Do$3n Envelope ID: FE1hA568-6C1A4CF24FA8-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) FINAIYCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Charity Number 1126526 Rc8iStered Number 06443209 England and Walc5
Docuslgn Envelop8 ID.. FE1AAS6MC1A4CF2-8FAM8AE638A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS Page Reference and administrative details of the Charity, its trustees and advisors Rew)rt of the trustees 2- 11 Independent Auditor'5 Report 12-14 Statement of financial activilies 15 Balan¢c sheet 16 Statement of cash flows 17 Notes to th¢ financial statement5 18-26
DoCugn Envelope ID.. FE1AA568-6C1A4CF2-8FA6-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHAIUTY, ITS TRUSTEES AND ADVISORS FOR THE YEAR ENDED 30 JUNE 2024 Trustees and Dlrectors J R Rudkin S V Whelan A M Kapur A Beddow N Oakley- resigned 15 March 2024 R Nixon K Davies- appointed i i th June 2024 Regl$t¢r¢d offlee King Power Stadium Filbert Way Leicester LE2 7FL Company reglstered number 06443209 Charlty registered number 1126526 Auditor The Rowleys Partnership Ltd Chartered Accountants & Statutory Auditor Chamwood House Harcourt Way Meridian Business Park Leicester LE19 IWP
Docusign Envelope ID.. FE1AA568-6C1A4CF2-8FA6-A8AE636A4E32 LEICESTER CITV FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual T¢POrt tO8Cther with the financial statements of Leicester City Football Club Trust Limit¢d ("the Charity") for the year ended 30 June 2024 ('%he year"). The Trustees ¢onfim) that the r¢port of the Trustees and financial statements of thc charity comply with the ru¢nt statutory requirements, the requirements of the Charity'5 governing document and the provision5 of the Ststement of Recomrnendcd Practice (SORP) applicable to Charities preparing their financial slatements in accordance with the Financial Reporting Standard) applicable in the UK and Republic of Ireland (FRS 102) (effective l October 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT GoverDing Document Leicester City Football Club Trust Limited was incorporated under the Companies Act 2006 as a company limited by guarantee governed by its Memorandum and Articles of Association dated 3 December 2007. It was registered as a charity with the Charity Commission on 31 October 2008 (charity no,. 1126526). The liability of the members is limited to an amount not exceeding £10. Organi5atlon The Charity is operated by a Board of Trustees. The Board of Trustees meet as a minimum quarterly and il provides strategic guidance and governance. The Trustees are continually seeking to broaden the mix of experience and ski115 within the Board of Trustees in order to enhance the opera¢ion of the Charity and to fa¢ilitate th¢ growing range of projects being delivered. TD manage the day lo day operations of the Charity the Trustees have appointed a 'Head of Community, who has delegated authority within specified limits, for operalional matters including finance. employment and strategic development of the Charity. All areas of ihe Charity's operations and developments are reported upon by thc Head of Community during the Ttijstees, meetin8S. Dlrectors and Trustees The directors of the Charity are ily Tntstees for the purpose of charity law. Throughout this report they are collectively referred to as the Trustees. The Trustees who Served the charity during the year were as follows: J R Rudkin S V Whelan A M Kapur A B¢ddow N Oakley - re5igned15 March 2024 R Dixon K Davies- appointed I l June 2024 Trustees, reeruitment and Induetlons The Board of Trustees seeks to build on the Board's cuent skills mix when appointing new Trustees who bring new knowledge and impetus to the Charity. Specific specialisms are assigned to individual trustees. such as culture and ethos, finance and Safeguarding.
Docuslgn Envelope ID". FE1AA588-6C1A4CF2-8FA6-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 New Trustees are invited and encouraged to attend the various activities and operations of the Charity and to meet team members to familiarise themselves with the organisation dnd the context within which it operates. The Trustees are also guided by professional advisors and the Head of Community to ensure they have a full understanding of area5 such as: The obligations of the Trustees under eharity and company law The main documents which set out the operational framework for the organisation including the Memorandum and Articles of Association Recent copies of minutes of meetings The business plan and recent financial perfornlance of the or8anis&tion Future plans and objectives Rel8ted parties Leicester City Fovtball Club Limited ("LCFC") has supported the Charity both financially aTJd through facility, accounting and administration 5UPPQrt over the year. Susan Whelan is also a Director and Chief Executive of LCFC. The Premier Leasue Charitable Fund has ihe responsibility of supporting community progratnmes by offering the opportunily to apply for funding to provide themed activities in dItiOn to evaluating the Charity'5 'Capability status,. Rlsk manigement The Trustees have a risk managemenl strategy which comprises,, A Th annual review of the risks the charity may faLe. The establishment of systems and procedures to mitigate ihose risks identified. The implementation of procedures designed to minimise any potential impaGt on the charity should those risks materialisc. The Charity has a comprehensive 'Risk Register, which meets the Premier League's 'Capability Status Code of Practice, criteria. 'Risk' is a standing item on every Trustee's meeting agenda, The 'Risk Register, is therefore revicwed every two months. The greatest risks are identified as: saf¢guding. The Charity employs a dedicated full time 'Designated Safeguardin8 Lead.. has estsblished 'Safeguarding Forum, and has a nominated 'fru5tec with responsibility for 'Safeguarding', No f¢guarding incidences waanted reporting to the Charities Commission during this financial year. Finance. The Charity is aware that it needs to diversify its income streams and is focussing on local and National funders. League status. League Status cannot influcnced by The Trust either directly or indirectly so diversifying income and developing an investment strategy can alleviate the impact of this potential risk. Pandemic. The Charity is now aware that Covid19 is a risk and is reflected in the updated register. Leicester City Football Club were relegated from the Premier League in Junc 2023 resulting in a total loss of £310,000 of grant funding from Premier League Charitable Fund (PLCF) and Premier League Professional Footballers Association (PLPFA). The loss had been plann for and as a result there were no redundancies or significant changes to delivery and operations. In May 2024 Premier League status was secured following LCFC'S successful season in the EFL Championship.
Docvslgn Envelope ID.. FE1AA568-6C1A4CF2-BFA6-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 There 15 a place for everyone at Lticester City in the Community Leicester is our home. We belong here and we are proud to be part of this community, and it is our mission to ensure every person in Leicester, Leicestershire and Rutland (LLR) feels the same way.. that they belong. The 2023124 scason hag proven to be another successful year for Leicester City in the Community as w¢ continue to grow our presence across the city and county- During this period. we have secured significant new funding to enhance our work and to engage diverse communities, worked with kcy local partners to design and deliver a rang¢ of cornmunity and education activities to address loial need, and launched our new 2024-2027 Community Strategy which outlines our priorities and ways of working as we move lorwards. When we launched our previous strategy in 2019, it is fair lo say that we had no idea of the challenges that lay ahead. The COVID-19 pandemic, cost-of-living Crisis and numerous global conflicts had a seismic impact on people's lives within our community. New and acuie issues emerged. people needed our support more than ever. in ways we could never have foreseen. We had to listen, eollatK)rate and adapt in order to meet those needs. Not to say wc gol everything right, but wc were galvanised by the ways in which our strategy enabled us to change course and respond to the most urgent challenges. Our community hub model. the basis of that previous strategy, fa¢ilitated local action and ¢onsultstion, meaning we were able to effectively deliver targeted interventions 10 Ihose most in need. The outcomes of that work, and the impacl we delivered, assured us that the model is working. Bui ihcre is more to do - much more. Therefore, our strategy for 2024-2027 builds directly from the model, impa¢1 and learning from the previous cycle. Targeied interventions will be the foundational delivery mechanism for our work. We will continue to listen, understand and respond to communities on a Iocyal level. We are certain the conl¢xt will Change ()ver the course of the next four years, but so will our activity. We will continue to work tirelessly with those communities and our inLredible network of partners to enyure we deliver for people most in need within LLR. LLR has long been defined by it5 diversity, its spirit and its resilience. This won't change, but the challenges we face arc real and profound. Food povcrty is at.a record high. Young people report feeling isolated and like ihey do not belong. Mentsl health referrals are high and social isolation impacts negatively on both our younger and older community members. Activity and childhood obesity levels are amongst the worst in the country. These are merely a few of the deeprooted issues facin8 our communities.. we will do everything we can lo address them. We do not know what our precise programming strategy will be by the end of thi5 Cycle, bul we are sure of our approach= area- based, workin8 Wlth local people and partners to solve local problem5. We will spend every day fostering a sense of belonging for our communitics, cultivated by our amazing people and the indelible power of the Leicester City l--C family. No matter who we are or how wc got hcre, we all belong. We are Leicester. We are for everyone. OurApproa¢h Leicester's rich multiculturalism is one of its many slrengihs. The city of Leicester is the first in thc UK in which no ethnic group has a majority. The diverse socio-demographic composilion is what makes it such an inclusive place to live, but also means we must never adopt a one-size fits-all approach to our work. Each of our communities needs different things from us. Through intensive collaboration and Consultalion, we will design bcstx)ke and targeted activilies that mccl the needs of people at a local level. This will be underpinned by our core principles: Our Value5'. Everything we do is underpinned by our unwavering commitment to our six core values: we Engage, Inspirc and Empower through Togetherness, Respect and Pride. Our Ethos.. Our commitment to delivering impact is not limited to just the outcomes of our work, Tt is also fundamental to the way we will work. We have some unwavering principles, underpinned by our values. which reflect our commitment to our communities and our peopl¢.
Docusign Envalope ID: FE1 AA5684C1A4CF2-8FA&ABAE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 Targeted Interventions.. Evidence-based programmes and activities designed to ensure we reach ihe right people, at the right time, in the right place. These will be bespoke and created with. and for, our communities. Community Hubs: Built around a long-tern], sustainable vision. the hubs are LLR-wide, hyper-local anchor sites in the heart of the areas they represenL It is from these hubs that we will co-design- and then deliver- tailored programmes, interventions and activities that address the most pressing needs of that respective community. Partnerships.. We are stronger together. Collaboration is a foundational principle by which we operate. We will work closely with existing and new partners. local and national, to deliver greater impact and best serve th¢ needs of the people of LLR. Environmental Sustainability: We will work with our people and partners to embed environmental sustainability practice in everythin8 we do. We have a responsibility to lead the way, engagc, inspire and empower our communitie5 to reduce environmental impact at every opportunity. Our People,, Nothing happens without our in¢r¢dible, committed and passionat¢ team. This is not just those out in the community delivering programmes, but those working b¢hind-the scenes in operational and d¢velopment roles.. they are the glue that holds everything together. Our Thernes: Our primary thematic focus areas. the onw within which we will be working to deliver direct, life-changing outcomes for our communities, are Education and Community. Every programme we deliver will, in som¢ way, positively impact an individual's health and wellbeing. This underpin5 all of our work, across every strand.. it is fundamental. Our Diver3ity'. When we are truly diverse as an organisation, our people will accurately rellect the demographics of Leicester. After all, We Are Leicester and we are for everyone. We are not there yet and we will continue to work with our club and partners realise this vision. OBJECTIVES AND ACTIVITIES The Charity's objectives (the Objects) are for the benefit of the public 8cnerally and in particular, the inhabitants of Leicestershire and its suOund1ng areas as follows.. to promote community participation in healthy recrealion by providing facilities for the playing of association football and other sports capable of improving health. to provide and assist in providing facililies for Srt, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth. age, infirniity or disablement, poverty or SOCiV41 and cconomic circumstances or for the publi¢ at large in the interest5 of social welfare and with the object of improving their conditions of life. and to advance the edu¢ation of children and young people throu8h such means a5 the Trustees think fit in accordance with the law of charily. The Trustees confimi that they have referred to the guidance conlained in the Charity Commission's g¢ncral guidanr¢ on public benefit when reviewin8 the charity's aims and objedives and in planning filre artivities.
Docusign Envelope ID.. FE1AA568-6C1A4CF2_8FA6-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED {A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AND PERFORMANCE The 2023124 season has proven to be another successful year for Leicester City in the Community. From securing £1.8m in grant funding to engaging over 12.000 people through 30+ impactful projects. we've focused on driving meaningful change in Leicester, Leicestershire. and Rutland. Whether it's tackling food povety, promoting mentsl well-being. supporting young carers, welcoming refugees and pPIe seeking asylum or increasing opportunities for women and girls in sport, our Community initiatives have left a1&8ting mark. The passion and eommitment of our team. 26Yo of whom are fornler participants or volunteers. has been pivotal in our success. OUR SEASON IN NUMBERS Over 30 projects and prugrammes delivercd Over 12.000 participants engaged of which 39Yo were women and girls, 47Yo from minority ethnic communities and IOQ/o identified as having a disability. 74 player engagemenls (Men's, Women's and Development Squad) at sessions and events. 26Yo of our staff team are fornier participants or volunteers IOOYO of staff feel proud to work for Leicesler City in the Community (January Staff Survey 2024) Facilitated the investment of £130,000 of Apprenticeship Levy funding from LCFC into the Local Coach Core Apprenticeship partnership. EDUCATION Th¢ purpose of Education theme is to inspire children, young people and yuung adults across Leicester and Leicestershire to improve attainment and change attitudes towards learning. Highlights include: Premler League PriJn4ry Stars Premier League Primary Stars. funded by the Premier Leagu¢ Charitable Fund (PLCF), uses the appeal of the Premier League and professional football clubs to inspire primary llge children to be active and develop important life ski115. throu8h the delivery of a range of intervenlions including English, Maths, PSHE and PE. 18 primary schools eng&gcd in ihe programme. 3,163 children engaged. 900/0 of teachers feel more nfIdent delivering PE, 5 sports days and I I school Competitions deliver¢d. Premier LeAgue Insplres Premier League In5pire$, funded by the Premier League Charitable Fund (PLCF). empowers participants to develop personal. social, employability and lifeskills. through a Series of regular face-to-face group sessions, mentoring, workshops and social-action projects. 420 young people engaged in th¢ programme 250/0 average improvement in participant menthl wellbeing
OocJJ$lgn Envelope ID: FE1AA568-6C1A4CF2_8FA6.A8AE638A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUA114NTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 Vlolence Intervention Project The Violence Intervention Project. funded by the Leicestershire Violence Reduction Network. targets young people (aged I1- 25) in their most vulnerable moments. whether in A&E for violence-related injuries or in poli¢e custody for violen¢e-related offences. In these 'reachable moments, our partners offer tailored support to help guide young people towards recovery and growth, including referring into our sport and physical activity pathway. 87 participants engaged in the programme 750/0 of participants engaged positively with Lcitc COMMUNITY The purpose of our Community Engagement theme is to engage all communities to provide activities and programme$ that respond to local challenges and need. Highlights include: Premler League Kieks Premier League Kicks, funded by the Premier League Charitable Fund, uses the power of football and sport lo inspire young people to reach their potential. The programme creates opportunities for young people who are at risk of anti-social behavioury youth violence andlor from areas of high need to regularly en8aBe in football. sporl mentoring and personal development opportunities. 2,127 participants engaged. 24¥0 of participants identify as female. 21 weckly sessions delivered. I, l34 participants engaged in competitions 313 participants engaged in educational workshops Prolect 15 Project 15, funded by the Premier League 8nd Professional Footballers, Association (PLPFA) Community Fund and Barclays l 00 v 100 Fund is delivered in partnership with Women4Chan8e in St Matthews, and Team Hub in New Park5, and aims to provide families with targeted support and acGe5S to services that would otherwise find hard to access. The project takes a holistic approach to SUPPOrt, with sessions being tailored to the needs of the families with an aim to increase mental and physical wellbeing and reduce socialisation. 498 participants engaged in activity 8 r¢8ular weekly sessions delivered 42Yo of participants from Diverse Ethnic Communities. Attive Women Active Women, funded by the Fooiball Foundation's Active Through Football initiative, works with women aged 18-49 in the St Matthews and Highfields area ofthe city by dclivering a range of progrdmmes and sessions. Working predominantly with thc South Asian and Somali communities, the fivc-ycar project strives to increase access to more community activities, incrcasc physical and mental wcllbeing. reduce obesity and social isolation, and develop employability skills. 439 participants en8agd. 900/0 participants from Ethnically Diverse Communities 300 sessions d¢liv¢red equating to 4149 conta¢t hours
DofAJ$lgn Envelope ID.. FE1AA5684C1A4CF2-8FAFA8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARINTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 Food Poverty Food Poverty continue5 to be a priority area for Leicester City in the Community and our approach aims suprrf)rt individuals and families who are unable to afford or have access to food to make up a healthy diet, an issue which has continued to increase because of the cost-of-living erisis. Hi8Eilights include: Hosting 3 x Pop Up Pantries in parlnership with Leicester City Council and Samworth Broihers. 1,750 families engaged in Pop Up Pantry events. £13.5k 5cGur¢d to provide food parcels to families in need as part of the Islamic Relief UK summer food drive. Engaging 249 eligible participanls in DfE Holiday Activities and Food pro8ramme provision, of which 360/0 of participants were female and 600/0 from ethnically diverse communities. FOOTBALL DEVELOPMENT The purpose of our Football Development theme is to provide suitable football activities for individuals across Leic¢5ter and Leicestershire. Highlights include: 2,150 participants engaged in football camp provision. 51 I participant5 engaged in Skills Centre provision. 75 female participants engaged in our Girls School Football programmc. 9 participants engaged in our Powcr Chair Football pilot. Securing £14.4k as part of the Kellogg's l EFL Summer Holiday Football Camps Partnership Agreement. TALENT ENGAGEMENT Leicester City in the Community projects, programmes And participants have benefited from 74 in person pl&yer appearances, and 49 virtual player engagements during the 2023124 sea50n. In person player appearances consisted of: 8 x LCFC Men player appearances 13 x LCFC Women player appearances 42 LCFC Development Squad player appearances 8 LCFC Legend player appearances
Oocusign Envelope ID". FE1AA588-8C1A4CF2-8FAMBAE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUAtL4NTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 FINANCIAL REVIEW The Trustees would like to highlight that Leicester City Football Club Trust Limited has made positive progress within the 202312024 financial year. The Charity has made a financial surplus of £15,834 in unrestricted funds. The organisation ig pleased to rep)rt the extension and acquisition of additional levels of restricted funding through continued support from Premier League's Charitable fund (despite the change in league status for LCFC) and partnerships with additional grant funders secured. This has enabled the Charity to extend its reach and impact across the communities of Leicestershire addressing national and local agenda through the powcr of football. Restricted funds held decreased from £372,067 at JO June 2023 to £287,224 at 30 June 2024, The Charity has continued to operate under $tri¢t financial control. whilst ensuring projects are delivered effe¢tiv¢ly and meeting the Charity's minimum quality a55urance operating 31andards. Areas of improved financial perforniance havc b¢¢n achieved through closer monitoring and Clearer financial procedurc5. Taking into consideration the higher proportion of PL grant aid the Charity has continued to grow its operational structure, which ha5 resulted in an increase of overhead5 the Charity has had lo account for. Throughout the 2023124 year this has been carefully m8na8ed with the primary focus on serving the local community through the delivery of the projects detailed above. FUTURE PLANS The Head of Community will: Embed the Charity'5 new 5trate8y 'We Are Leicester. and ensure the organisational structur¢ can effectively deliver Ensure the development and implementation of a robust Theory of Change and Impact and Outcomes framework to effectively measure the impact of the Lcitc's Strategy Continue to diversify income streams including partnership working with International Funders (e.g., UEFA Foundation. VF Foundation), National funders {e.g., National Citizen Service, Sport England, Department for Educ&tion) and local funders (Leicester City Council, Leicestershire Violence Reduction Network, Office of the Police and Crime Commissioner for Leicester, Leicestershire and Rutland). Draft, publish and implement a facility development strategy Raise the profilc of the charity both internally within LCFC and externally- both locally and nationally. Continue to improve the quality and diversity of pro8ramm¢s and therefore increase measurable outcomes. Oversee the development of a trading subsidiary. Educatlon Funding from Heritage Lottery will enable us to grow and develop our Outdoor Learning offer. We will ¢ontinue to engage and develop participation and leamin8 OPPOrtunitie5 for care experienced children and young people, and young ¢arers. Communlty Funding from the Premier League and Professional Football Association Fund (PLPFA) will allow us to grow and develop our Proj¢¢t 15 offer. providing support for vulnerable families across th¢ city and county. Funding from NHS Leicestershire will allow us to provide dedicated support for Refugees and People Seeking Asylum. We will continue to invest in and develop our nctwork of Community Hubs, located in the heart of the communities that w¢ serve.
Docusign Envelope ID.. FE1AA568-6C1A4CF2-8FA&A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARINTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 Targeted Interventlons As part of our new organisatlODal strategy, we will develop a new Targeted Interventions theme which will enable us to develop projects and programmes that meet specific identified needs, promote behaviour ehange and deliver measurable impact. EnvlronmentAI Sustainablllty (ES) Lcitcs Environmentsl Sustainability Action Plan continues to support our efforts to champion, raise awareness and educate our staff, participants and communilics on the impact oFclimat¢ change and environmentally suslainable practices. Dlverslty* Equlty ind Incluslon (D,E and l) Finally, yet arguably most importantly, Lcitcs Div¢r5ity, Equity and Inclusion Action Plan is inforyncd by data, insight and engagement with our communities and continues to drive and support our inclusive ethos. There is a place for everyone at Lcitc. Ultimately. we want to create a measurable sense of belonging for ow people and our participants alike and onr¢ we are fully equal, diverse and inclusive we will 'look like Leicester,. RESERVES POLICY The Trustees have examined the Charily's requirements for reserves in light of the main risks to the organi5ation. It has established a policy whereby unresiricted funds not committed or invested in tangible fixed assets held by the Charity should be no les5 than 6 months of the unrestricted expenditure of the charity to ensure that there are sufficient reserves so that the Charity can conlinue as a going concern during any adverse period. GOING CONCERN The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going ¢oncern basis in preparing the financial statements. 10
DO$1g Enlope ID.. FE1AA5684C1A4CF2-8FA6-A8AE838A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees (who are also directors of Leicester City Football Club Trnst Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the twstees to prepare financial statements for each financial year. Under company law the trustees rnust not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable Company and of the incoming rcsourc¢s and application of resources. ineluding the income and expenditure, of the charitable company for that period. In preparing th¢se financial Statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe th¢ methods and principles in the Charities SORP 2019 (FRS 102); make judgments and ¢stimates that are reasonabl¢ and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare thc financial statements on the going concern basis unless it is inappropriate to presumc that the charitable Company will continue in operation. The Trustee5 are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with thc Companies ALt 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confim that: so far as each trustee is aware, there is no relevant audit infonnation of which the charitsblc company'5 auditor is unaware. and tE]e trustees have t&ken all the steps that they ought to have tsken as trustees in order to make themselves aware of any relevant audit inforniaiion ond to establish that the chariiable company's aUdIr is aware of that infomiation. AUDITOR The auditor. The Rowleys Partnership Ltd, will b¢ proposed for reappointment in a¢¢ordance with section 485 of the Companies Act 2006. SMALL COMPANIES NOTE In Preping this report, the directors have taken advantage of the small companies, exemptions provided by section 415A of the Companic5 Act 2006. 24 January 2025 This port was approved by the Board of Trustees on . and Signed on its behalf by: 8iontd by.. CD048F8E4B3... apur Chair of Trustees
Docusign Envelope ID.. FE1AA568-6C1A4CF2-BFAPrA8AE636A4E32 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) Opinion We have audited the financial 5tsternents of Leicester City Football Club Trust Limited (the 'charitabl¢ company,) for the period ended 30 June 2024 which comprise the Statement of Financial Activities. the Balance Sheet. the Statement of Cash Flows and notes to the financial statement4 including significant accounting policies. The financial reporting fram¢work that ha5 been appli¢d in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Siandard applicable in Ihe UK and Republi¢ of Ireland (United Kingdom Generally Acceptsd Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affAirs as al 30 June 2024. and of its incorning resources and application of resources, including its income g4nd expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Acc¢pted Accounting Practice. and have been prepared in accordance with the rwuirements of the Companies Act 2006. Basls for oplDlon We conducled our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further de5¢ribed in the Auditor's responsibilities for the audit of the financial statemenl5 section of our report. We are independent of thc Charitable company in accordance with the ethical requirements that are relcvant io our audit of th¢ financial statcments in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that the audil evidenLe we have obtained is sufficient and appropriate to pmvide a b&5is for our opinion. Contlusions rel4ting to going concern In auditing the financial statements. we have Loncluded that the trustees, us¢ of the 8oin8 Concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied, wc have not identified any material uncertainties relatin8 to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going con¢em for a period of at least twelve months from when the financial statements are authorised for issue. Our re5pon5ibilities and the responsibilities of the trustees with respec( to going concern are described in the relevant sections of this report. Other Information The other infomation comprises the information included in the trustees annual report. other than the financial stalements &nd our auditor's report thereon. The trustees are responsible for thc other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other inforniation and. except to the exlent otheNise explicitly stated in our reporL we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstatcd. If we identify suGh material inconsistencies or apparent material misstatements. we are required to deterniine whether thi5 gives rise lo a materiai misstatement in the financial statements themselves. If, b&8ed on the work we have pcrformed, we conclude that there is a material misstatetnent of this Other infomiation. we are required to report that fact. We have nothin8 to report in this regard. 12
Docusign Env8lope ID.. FE1AA568-6C1A4CF2-8FA6-A8AE636A4E32 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LJMITED BY GUAIi4NTEE) Oplnlons on other matters preseribed by the Comp2nles Aet 2006 In our opinion. based on the work undertaken in the course of the audit.. the infomation given in the trustees, report (ineorporating the directors, report) for the financial year for which the financial statements are prepared is consistent wich the financial statements. and the directors. report has been prepared in accordance with applicable legal requirements. Matters on which we Are requlred to report by exeeption In the light of the knowledge and understanding of the charitable company and its environment obiained in the course of the &udit, we have not identified material misstatements in the director5. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion,, adequate accounting records have not been kt, or returns adquate for our audit have not been received from branchcs not visited by us. or the financial statemenls are not in agreement with the accounting records and returns. or certain disclosures of directors. remuneration specified by law are not rnadc. or we have not received all the information and explanations we require for vur audit. or the trustees were not entitled to prepare the financial statements in accordance with the Small companiey, regime and take advantage of the small companies. exemptions in preparing the directors. report and from the requirement to prepare a strategic report. Responslbllltles of trustees As explained more fully in the trustees. responsibilities statement set out on page I I, the trustees (who are also thc directors of the charitable company for Ihc purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intcrnal control as the trustees determine is necessary to enable the preparation of financial statements that are free from mat¢rial misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible (or as5e5sin8 the charitable company's ability to continue a5 a going concern, disclosing. as applicable, malters related to going concem and using the going concern basis of accounting unless the trustees either innd to liquidate the charitable company or to cease operaiions, or have no realistic alternative but to do so. Auditor's reiponsibilities for the audlt of the financl41 statements Our objectlVCS are to obtain reasonable assurance about whether the finan¢ial 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 condurtcd in accordance with ISAS (UK) will always detect a marial mis51atement when it exists. Mi55tatements can arise from fraud or error and arc con5ider¢d material if, individually or in the ag8r¢gate. they could reasonably be expected to influence the economic decisions of users iaken on the basi5 of th¢5¢ financial statement5, Irregularities, including fraud. are instances of nOnomPlInce with laws and regulation5. We design procedures in line with our responsibilities, Qutlined 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: We obtained an understanding of the legal and regulatory framcworks that are applicable to the company and determined that the most significanl which are directly relevant to 5pecifi¢ assertions in the financial statements are those related to the financial rep)rting frameworks (UK Generally Accepted Accounting Practice, the Cornpanies Act 2006) and the relevant tax compliance regulations in the jurisdiction in which the company operates; 13
Do¢uslgn Envelope ID: FE1AA588-6C1A4CF2-8FA&ABAE636A4E32 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) We enquired of management, whether they were aware of any instance5 of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or allcged fraud. We assessed the su5¢eptibility of the entity's financial statements to material misstatemenl including how fraud might occur. Our testing considered unusual or unexpected joumal entries on a sample basis. We evaluated the assumptions and judgements used by management within significant accounting estimate5 and assessing if these indicate evidence of managernent bias- We tested significant transactions, in partieular the evaluation of the bu5ine5s rationale for any which appear unusual or outside the company's normal course of business. We assessed the appropriateness of the collective competence and capabilities of the engagement team by understandin8 the practical experience with audit engagements of a similar natu and complexity. plus ensuring the tcam had appropriate and relcvant training of the financial reporting framework and the relevant tax Compliance regulations specific to the entity. W¢ reviewed the financial slatemenls and tested the disclosures against supporting do¢umentaiion' and We communicated relevant matters lo all members of the audit team to ensure they understood the risks specific lo the entity and the audit procedures planned to mitigate these. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, in¢ludin8 those leading to a material misstatement in the financial statements or non-compliance with rcgulation. This risk increases the more that compliance with a law or regulation is removed from the event5 and transactions reflected in Ihe financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities is available on the FRC'S website at.. hit s.'IIM'wiv.l-rc.oi' .ukJaudiiorslaudil-assiiranLel ditor-s-r onsibililies-for-Ihe-audSt-ol'.Ihe-fildeqcri on -lorThis description fonns part of our auditor's report. ion-or- Use of our report This report is made solely to the charitable company's members, as a body. in acrdanCe with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work hg4S bcen undertaken so that we might state to the charitable company's members those matters we are required to sthte to thcm in an auditor's report and for no other purpose. To thc fullest extent pemiitted by l&w, we do not accepi or assume resw)nsibility to anyone other than the eharitable company and the charitable ¢ompany's member5 as a body, for our audit work, for this report, or for the opinions we have fomled. Mrs L G Park¢s FCA FCCA Senior Statutory Auditor for and on behalf of The Rowleys Partnership Ltd Statutory Auditor, Chartered Accountants Date: 9/ 14
ocusign Envelop8 ID.. FE1AA568-6C1A4CF2-8FAfvA8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) STA TEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 Note 2024 Unrestricted Fundg 2024 Restricted Funds 2024 Total Funds 2023 Unrestricted Funds 2023 Restricled Funds 2023 Total Funds INCOME FROM: Donations and subscriptions 117,157 124.821 231,991 231,991 Charitable aetlvltles: Grants Soccer schools, coaching and courses 173,967 383.287 1,117,OS2 6,434 1291,019 389,721 234,500 307,920 1,067,886 1,302,386 29.063 336,983 TOTAL INCOME 564.918 1,240,643 1005,561 542,420 1.328,940 1,871,360 EXPENDITURE ON: Charitlble activities Direct costs 349,259 1,472,161 1,821,420 271,641 1,460.599 1.732,240 Support StS 41,138 12,012 $3,150 34,277 25,174 59,451 TOTAL EXPENDITURE 390,397 1,484,173 1074,570 305,918 1,485,773 1,791,691 NET INCOMEI (EXPENDITURE) 174,521 {24530) (69.009) 236,502 (156,833) 79,669 Transfer of funds (158ffi87) 158,687 (l28,724) 128,724 NET MOVEMENT IN FUNDS 15034 (84043) (69,009) 107.778 (28,109) 79.669 TOTAL FUNDS AT I JULY 2023 1,021a62 372.067 1,393,429 913,584 400,176 1,313,760 TOTAL FUNDS AT 30 JUNE 2024 1,037,196 287.224 lJ24,420 1.021.362 372.067 1.393,429 All activitie5 relate to continuing operations. The notes on pages 18 to 26 forni part of these financial statem¢nts. 15
DoLwslgn Envelope ID.. FE1AA588-6C1A4CF2-8FAM8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AT 30 JUNE 2024 Iyott 2024 2023 FIXED ASSETS Tangible io 2,139 2,674 CURRENT ASSETS Debtors Cash at bank 183,269 1,506,952 60.663 1,713,985 1.690,221 1,774,648 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 12 367,940 383,893 NET CURRENT ASSETS lJ22J81 1,390.755 NET ASSETS 1,324,420 1,393.429 FUNDS Unrestricted funds Restricted funds 14 15 1,037,196 287.224 1.021.362 372,067 TOTAL FUNDS 1,324,420 1,393,429 These financial statements have been prepared in accordan¢e with the provisions applicable to companies subject to the small companies regime. 24 January 2025 The financial statements were approved by the Trustees on ..,...,.. . and were signed on its behalf by: by., F8e482... Company registration number 06443209 and Charity rcgistration number 1126526. The notes on pages 18 to 26 forni part of these financial statements. 16
Docuslgn Envelope10.. FE1AA568-6c1A4cF2-8FA8AE638A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED {A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 Total funds 2023 Totsl funds CASH FLOWS FROM OPEIL4TING ACTIVITIES.. Net (expenditurey income for the reporting period (69,009) 79.669 Adjustments for: Deprwiation charges {Increase)IDecrea5e in debtors (Decr¢) in ¢reditors 535 (122,606) (15,953) 668 8,589 (19,961) NET CASH PROVIDED BY OPERATING ACTIVITIES (207,033) 68.965 CASHFLOWS FROM INVESTING ACTIVITIES.. Purchase of fixed assets CHANGE IN CASH IN THE REPORTING PERIOD CASH AT THE BEGINNING OF THE REPORTING PERIOD (207,033) 1,713,985 68,965 1.645,020 CASH AT THE END OF THE REPORTING PERIOD IA06,952 1,713,985 17
DoDJsign Envelope ID.. FE1AA5884C1A4CF2-BFA6A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUAIi4NTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General Information Leicester City Football Club Trust Limiled is a company limited by guarantee. It is ineorporated in England and its registered ofTice is King Power Stadium, Filbert Way, Leicester, LE2 7FL. Aceountlng Pollcl¢$ The principal a¢countin8 policies are set out below: (a) Basis of preparallon of flnan¢lal stitements The finan¢i8l statements have been prepared in arwrdance with Accounting and Reporting by Charities: Statem¢nt of Recommended Practice applicable to charities pr¢paring their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (issued l October 2019)- Charities SORP (FRS 102)), the Financial Reportin8 Standard &pplicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Leicester City Football Club Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction valuc unless otherwise stated in the relevant accounting policy. The finartci&l statements are presented in sterlin8 {£). The following principal accounting policies have been applied: (b) Golng eoncern The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and Ihe expected level of income and expenditure for 12 months from the date of authorising these financial staiements. The budgeted income and expenditure is sutTicient with the Icvel of reserves for the charity tr) be able to continue as A going concern. (¢) Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the trustee5 in furtheranee of the general objeL'tives of the charity and which have not been designated for other purwjses. Restricted fund5 are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support Costs. 18
Doojsign Envelope ID: FE1AA568-6C1A4CF2-8FA&ABAE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUA114NTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 (d) Ineome All monetary donation5 and gifts are recognised once the charity has entitlement to the income, it is probable that the income will be received. and the amount of incorne receivable can be measured reliably. Ineome tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Grants, including grants for the purchase of fixed assets. are recognised in full in the Statement of Financial Activities in the period in which they are receivable. Where grants are relat to perfornian¢e these are accounted for as the ¢harity earns the right to its ¢onsid¢ration. Where such income has been received in advance of the relevant expenditur¢ having been incuryed. the income is held in the balan¢¢ Sheet as deferred income to b¢ released as the expenditurc is incurred. Income from soccer schools, coaching and courses is accounted for when earned. The value of services provided by volunteers has not been included. (e) Expendlture Expenditure is reco8Dised once there is a legal or wnstructive obligation to make payment to a third party, it 15 probable that settlement will b¢ required and the amount of thc obligation can bc measured rcliably. Expenditure Includ any VAT not recoverable and i5 reported as part of th¢ expenditure to which it relate5. Charitable expenditure comprises those costs Incued by the charity in the delivery of its activilic5. It include5 both costs that can be ati&ched directly to such activities and those costs of an indirect nature neressary to support them. Governance costs comprise those costs associated with the constitutional and statutory requirements of the charity. (D Penslons The charitable eompany operates a dcfined contribution pension scheme and the pension chArge repres¢nts the amounts payable by the company to the fund in respect of the year. (8) Fixed gssets Fixed assets are stated at eost less accumulated depreciation. Depreciation 15 provided at the rate of 20 % on a reducing balance basis. (h) Debtors Debtor5 are recognised at the settlement amount after any discount offered. Cash at Bank Cash at bank includes Short tenn highly liquid investments with & short maturity of three Months or less from the date of acquisition on opening of th¢ deposit or similar account. (i) Credltors Creditors are recognised where the charity has a present obligation r¢sulting from a past event that will probably result in th¢ transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are nornially recognised at their settlement amount after allowing for any diswunts due. 19
Do(xJsign Envelope 10.. FE1AA568-6C1A4CF2-8FA&A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 (k) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al Iransiction value and subsequently measured at their settlement value. Jlld£em¢nts In applying Aecountlng polleles and key sources of estimatlon uneert*lnty Certain of the amounts included in the financial statements involve the use of judgement andlor estimation. The judgements and estimates arc based on the trustees, best knowledge of the relevant fact8 and circumstances and have regard tg prior experience. but actual results may differ from the amounts included in the financial statements. Inforniation about such judgements and estimation uncertainty is contained in the a¢¢ounting policics andlor the notes to the financial statement5 and the key areas are summarised below: Deferred Income Th¢ ¢ru5tee5 calculate deferred income bAsed on contractual terms for each individual grant or service agreement and review those calculations every y¢aT, irfal ststUS The Charity is a company limit¢d by guarantec. The membcr5 of the company are the trustecs named on page l. In the event of the Charity being wound up, the liability in respect of th¢ 8uaranÉee is limited to £ l O per member. Gr4nts 2024 Unrtstrlc¢ed Funds 2024 Restrleted Funds 2024 2023 Tot81 Unrestricted Funds Funds 2023 Restricted Funds 2023 Total Funds Premier League Charitable Fund Other 8fdnls 173,967 500,000 617,052 673,967 617,052 234,500 665,923 401,963 900.423 401,963 173,967 1,117,052 1.291,019 234,500 ,067.886 I J02,386 20
Docusign Envelope ID.. FE1AA5884CIA4CF2-8FAe-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Charltable activitle5- direct costs 2024 Unrestricted Funds 2024 Restrieted Funds 2024 Total Funds 2023 Unrestricted Funds 2023 Restrieted Funds 2023 Totsl Funds Staff ¢osts (note 8) Facility hire Motor and travel expenses Equipment/Kit Sundries 250,498 28,420 6289 19,136 44,816 1,160,898 55,216 47,529 68,887 139,631 1,411J96 83,636 53.918 88,023 184,447 207.234 14,980 4,236 12.484 32,707 ,102,373 70.682 40.695 97,227 149.622 1,309,607 85,662 44.931 109,711 182,329 349,259 1.472.161 1021,420 271,641 1,460,599 1,732,240 Charltable aetivitles - support costs 2024 2024 Restricted Funds 2024 Total Funds 2023 Unrestricted Fund5 2023 Restricted Funds 2023 Total Funds. Unrestrieted Funds Post, stationery and advertising Telephone Depreciation Bank charges Governance costs: Auditor's remuneration for audit services Other fees 6,976 474 7.450 4,524 2,690 7,214 4327 23 6,936 11,021 512 15,248 S35 6,941 3,450 28 6,393 21.844 640 25,294 668 6,393 IiSS0 11,550 10,500 10.500 11,426 11,426 9,382 9J82 41,138 12,012 53,150 34.277 25,174 59,451 21
Dowslgn Envelope ID.. FE1AA588-6C1A4CF2-8FAeA8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 30 JUNE 2024 Staff eoxts 2024 2023 Wages and salaries Social security costs Pension costs 1276,686 102,193 32,S17 1,178,669 100.074 30,864 1,41lJ96 1.309.607 One employee received more than £70,001 (2023: one over £80.001). The average number of ernployees during the year was 47 (2023: 46). The average number of casual staff, employed in the delivery of the various projects, was 17 (2023.. 14). No Redundancy payments were made during the year (2023: £5,489). Key manA£ement personnel The key management personnel of the charity comprise of th¢ ¢Nstees and the Head of Community who is responsible for the day to day running of the charity. The total employee benefits (including employer pension contributions and employer national insurance) received by key management personnel of the rharity amounted to £83,328 (2023.. £93,732). Payments to trustees No trustees. who are the key management personnel, or a person with a family or business connection with a tru5t¢e, received any remuneration during the period, directly or indirectly from the Charity (2023.. £nil). No expenses were reimbursed to the trustees during the period {2023: £nil). 22
boujsign Envelope ID: FE1AA568-SC1A4CF2-8FA6-A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUAIi4NTEE) NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 30 JUNE 2024 10. Tangible Flxed Assets Motor VebRclt Office Equipment Equipment Totsl Cost At l July 2023 and 30 June 2024 4,000 1,371 1,496 6,867 Deprttiatlon At l July 2023 Charge for the period 1,440 512 1,323 io 1,430 13 4,193 535 At 30 June 2024 1.952 1,333 1,443 4,728 Net book vwlue At 30 June 2024 2,048 38 2,139 At 30 Junc 2023 2,560 48 66 2,674 ii. Debtors 2024 2023 Trade debtors Other debtors and prepayments 137,276 45,993 20,088 40,575 183,269 60,663 23
Docu$lgn Envelope ID: FE1AA5884C1A4CF2-8FA&A8AE636A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 12. Cttditors: Amounts falllng due within one year Trade creditors Social security and other taxes Amounts due to Leicester City Football Club Limited Amounts due to Leicester City Women Football Club Limited Deferred income Accruals 40.383 22,619 1.799 I,oso 276,207 25,882 30,611 20,450 12,141 297.489 23,202 367,940 383,893 Deferred Ineomt Defeed income at l July 2023 Amounts released from previous years Resources defe¢d in the year 297,489 (297,489) 276,207 Deferred income at 30 June 2024 276,207 13. Flnanclal Instruments 2024 2023 Financial assets measured at amortised cost 1690 221 74 Financial liabilities measured at amortised cost 345 363 443 Financial assets measured at amortised c05t include trade and other debtors and cash at bank. Financial liabilities measured at amortised cost include trade creditors, amounts due to Lei¢ester City Football Club Limited Leicestsr City Women Football Club. deferred income and accruals. 14. Summary of funds At 01107123 Income Expenditure Trwnsfer At (note 16) 30A)6124 Restricted funds: Analysis per note 15 372,067 1,240.643 {1,484,173) 158,687 287,224 Unr¢5tri¢ted funds.. General funds 1,021J62 564,918 (390J97) (158,687) 1,037.196 1,393,429 1,805,561 (1,874,570) lJ24,420 24
tCus1g Envelope ID: FE1M568-6C1A4CF2-8FA&A8AE836A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 15. An21ysls of restrlcted funds At 01107123 Ineome ExpeDditurè Transfer (note 16) At 30106124 Premier League Charitable (including matched funding) Other Funding Fund 324,541 582,802 (800,337) 148.687 2SS,693 47,526 657,841 (683,836) 10,o(KJ 31,531 372.067 1340.643 (1,484,173) 158ffj87 287.224 Purpose of rna1 re5trl¢ted funds Prernier League Charitsble Fund Funding for Prirnary Stars, Kicks, Refugee, Our City our Children, Health, Dare to be Youth Programme, PLPFA High Schools, RASP. United Leicester, Inspire and PL Work5, Disability, Project 15. Other Funding Funding for NCS. Prevent, Sport England, NHS Charities, UEFA, Young Carer4 Active Through F(N)tball, Cruyff Court, VRN, VF Foundation, Dementia and Prison Twinning. 16. Transfer between funds During the period £158,687 was transfwed from unrestricted funds to restricfrd fund5. This transfer was match funding to expand projects.. PL Primary Stars £83,870 PL Inspires £64.817 Prison Twinning £10,000 17. Analysls of net issets between the funds 2024 Unr¢$trl¢ted Funds 2024 Restrlcted Fund9 2024 Tot41 Funds 2023 Total Funds Fixed asscts Net current assets 91 1,037,105 2,048 285,176 2,139 lJ22,281 2.674 1,390,755 1,037,196 287.224 1,324,420 1.393.429 25
Do¢u$lgn Envelope ID.. FE1A4568-8C1A4CF2-8FAerA8AE836A4E32 LEICESTER CITY FOOTBALL CLUB TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 18. Commitments under optratlng leasti The total future minimum lease paymenls under non-cancellable operating leases are as follows: 2024 2023 Within one year Within 2-5 ye$ 1.980 7,920 1.980 1,980 9,900 19. Related pArty transACtions During the period Leicester City Football Club Limited collected income of £250 (2023: £16,440) and paid expense5 of £160,129 (2023: £152.673) on behalf of the Charity. During this period £170,221 (2023: £140,130) was repaid by the Charity. At 30 June 2024 £1,799 (2023: £12,141) was due Èo Leicester City Football Club Limit¢d by the Charity. During the period Leicester City Women's Football Club Limited paid expenses of £3.581 (2023.. £127) to the Charity. At 30 June 2024 £1,050 (2023.. £Nil ) due to Leiccster City Women's Football Club Limited by the Charity. S V Whelan, a trustee of the Charity, is a director of Leicester City Football Club Limited and Leicester City Women. Football Club Limited. During the period the charity received income of £Nil (2023: £19.150) from The National Forest Company for salaries and expenses relating to the Outdoor Learning Programme. There were no balances outstanding at the year end. A M Kapur had no involvement with setting this partnership up behveen the two charities. During the period the charity received ineome of £2,880 (2023.. £Nil) and paid £637 (2023.. £15.450) for delivery, venue hire and cquipment to Leicester Riders Foundation. At 30 June 2024 £2,880 (2023.. £Nil ) was due from Leicester Riders Foundation tr> the Charity, A M Kapur, a trustee of the Charity. is also a trustee of The National Forest Company and a Patron of Leicester Riders Foundation. 20. P¢nsion ¢ommitments The Charity operates a defined contribution scheme through an externally managed pension scheme. The pension cost charge represent5 contribution5 payable by the Charity to th¢ fund and amounted to £32.517 (2023.. £30,864). 26