DocuSign Envelope ID: 428B181F-FD40-4EB6-89E6-1EC7C583C883
Sheffield United Community Foundation Limited Annual Report For the year ended 31 August 2021
Company no 06736385 Charity no 1126620
DocuSign Envelope ID: 428B181F-FD40-4EB6-89E6-1EC7C583C883
Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
Company Information
LEGAL AND ADMINISTRATIVE DETAILS
A Charitable Company Limited by Guarantee
Company registration number: 06736385 Charity registration number: 1126620 Registered office: Sheffield United Football Club Bramall Lane Cherry Street SHEFFIELD South Yorkshire S2 4SU
Trustees: D Baker, Chairman S M Brown (resigned 15 June 2021) P S Flower S Basu G Valentine T R Joseph (resigned 26 November 2020) G Saville B J Simpson-Lyons M D Monteiro Bin Khalid Al Saud, Musaad, H.H.Prince (resigned 16 March 2021) V Anderson (appointed 1 October 2020) D W Hall (appointed 16 March 2021) Princess R Abdulaziz Al Saud (appointed 7 April 2021) Bankers: Santander Merrion Court 44 Merrion Street LEEDS LS2 8JQ Auditor: Grant Thornton UK LLP 1 Holly Street SHEFFIELD S1 2GT
DocuSign Envelope ID: 428B181F-FD40-4EB6-89E6-1EC7C583C883
Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
Index to the financial statements
| Report of the trustees | 1 – 7 |
|---|---|
| Independent auditor's report | 8 – 11 |
| Statement of financial activities (incorporating the | |
| income and expenditure account) | 12 |
| Balance sheet | 13 |
| Statement of cash flows | 14 |
| Notes to the financial statements | 15 – 21 |
DocuSign Envelope ID: 428B181F-FD40-4EB6-89E6-1EC7C583C883
Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
1
Report of the trustees
The trustees (who are also directors of the charity for the purposes of the Companies) present their annual report together with the financial statements of Sheffield United Community Foundation Limited (the charitable company) for the year ended 31 August 2021. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the applicable United Kingdom accounting standards including Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Structure, governance and management
Constitution
Sheffield United Community Foundation Limited ("the charitable company") is a company Limited by guarantee, which is governed by memorandum and articles of association dated 29 October 2008 and is a registered charity.
The company was registered as a charity on 10 November 2008.
These financial statements present the financial position as at 31 August 2021, and the result for the year then ended.
Method of appointment or election of trustees
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
The Articles of Association allow The Sheffield United Football Club Limited to nominate no less than 50% of the total number of trustees on the board at all times.
At the first annual general meeting held on 25 May 2009 all of the trustees were required to retire for reappointment. At each subsequent annual general meeting one third of the trustees shall retire for reappointment by rotation.
Induction and training of trustees
The trustees are mindful of their duties in connection with the induction and training for trustees and appropriate steps have been taken.
Trustees
All of the trustees served throughout the year, except where otherwise stated:
D Baker, Chairman S M Brown (resigned 15 June 2021) P S Flower S Basu G Valentine T R Joseph (resigned 26 November 2020) G Saville B J Simpson-Lyons M D Monteiro Bin Khalid Al Saud, Musaad, H.H.Prince (resigned 16 March 2021) V Anderson (appointed 1 October 2020) D W Hall (appointed 16 March 2021) Princess R Abdulaziz Al Saud (appointed 7 April 2021)
During the year the charitable company provided its trustees with third party indemnity insurance.
Risk management
The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the foundation and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
Policies and Objectives
The Foundations policies and objectives are for the benefit of the public generally and the inhabitants of Sheffield City Region.
The Foundations vision is:
A Healthy, Empowered, Inclusive Community.
The Foundations Mission is:
To provide equal opportunities to help Develop Personal Skills, Promote Health and Wellbeing, Improve Academic Achievement and Inspire people to unlock their potential.
The Foundation use the power of sport and the brand of Sheffield United Football Club to “Tackle Inequalities and Create Opportunities” for the people of Sheffield City Region.
Going Concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future being a period of 12 months from the point of signing the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
The impact of Covid19 in March 2020 saw significant changes to the Foundations operation as a sport development charity, and as a result, dramatically reduced the ability to deliver face to face initiatives, and in some cases halted delivery altogether. While some level of uncertainty remains around the exit route of Covid19 locally and nationally, we have since seen the return of all community projects in either a face to face or digital capacity, and indeed the return of staff to deliver such projects.
Detailed Covid-secure risk assessments and delivery plans have been developed by the management team to ensure a fluid transition from digital to face to face delivery as and when it is appropriate to do so, maintaining engagement with staff and beneficiaries alike.
With funding received from the Premier League in March 2020 and December 2020, covering the period up to August 2021, the trustees are confident in the Foundations ability to continue its operation in the short and medium term.
Stress testing has been undertaken to demonstrate the Foundations ability to meet its liabilities as they fall due for a period of at least 12 months after the date of the financial statements. In addition, with growth in the education department, largely due to digital developments, the Foundation has maintained a strong cash position, despite the setbacks Covid19 provided, which gives confidence to the trustees to deem it appropriate to prepare the financial statements on a going concern basis. The trustees believe that there are no material uncertainties which may cast doubt over the Foundations ability to continue as a going concern.
Achievements and performance
Review of activities
Overview
Sheffield United Community Foundation Ltd has, like many charities, been continually challenged by the ongoing disruption of the Covid-19 pandemic. Despite this, the Foundation were able to continue working towards its vision due to progress made in recent years, and the flexible nature of the work undertaken allowing delivery of services to be adapted to suit the ever-changing circumstances which our communities face. The Foundation continues to evidence sustainability despite these challenges and maintains its strong reputation in the city region as a high-quality provider.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
The Foundation enjoys a positive working relationship with Sheffield United Football Club, across all departments. Support from the club has enabled the Foundation to meet the challenges during the year and continue to support its communities without disruption. The Foundation have settled into their new premises at the Blades Business Hub, located at Bramall Lane Stadium and utilise some of the space within the stadium as a central delivery location. Education programmes expanded to sites across the city, namely Handsworth FC and St Georges Park: Westfield, both of which provide bespoke, state of the art facilities that have further enhanced our engagement across education programmes. At present, the Foundation continue to follow government guidance and operate a work from home policy where possible, with minimal use of office facilities for those who require them.
The Foundation Senior Leadership Team continued to review its operations throughout the year in line with the development of a strategic plan for the upcoming funding cycle (2022-2025) and as a result, has streamlined its operations to better reflect the charities objectives. As a result, the Foundation continues to implement its mission through the delivery of 24 (2020:20) high-quality programmes in the revised areas of:
Education & Employability Communities & Wellbeing
Financially, the charity has had a progressive year despite setbacks because of a national lockdown in early 2021 and continued restrictions until July 2021. The Foundation made a positive contribution into its reserves to sustain future charitable activities whilst also investing in facilities and infrastructure. The purpose of such development has helped to create future sustainability whilst achieving an increased level of community impact and social value.
During 2020-2021, the Foundation worked with 7468 individuals ranging from 5 years old to 96 years old. Because of the pandemic, the Foundation adapted delivery to reach as many people as possible, this included virtual sessions, care packages, smaller groups, and working outdoors more often. The 7468 individuals engaged in Foundation activities came from 93 different ward areas, including all 28 wards in Sheffield.
Structure
Ending the year with 36 FTE (2020: 38), and 42 casual staff members, The Foundation saw a mix of recruitment, increased use of casual staff and a management restructure due to leavers during the year. There were 15 leavers in 2020-2021 (2019-2020: 12) including 7 casual staff. Successful appointments were made to fill some of the existing full and part time roles, while others were picked up by existing staff, or left redundant. The Foundation made the decision to not employ a Business Development Manager during the year, after the previous manager moved into a vacant Health and Wellbeing Manager role internally. This was due to the uncertainty the restrictions posed on fundraising and income generation opportunities throughout the year. 13 appointments were made on a contractual basis in 2020-2021 including 3 kickstart roles, a Women’s and Girls Inclusion coordinator, LGBT Inclusion coordinator, LGBT coach, Health & Wellbeing Coach, 3 Education tutors, 2 Education coaches, and a dance teacher. These roles were implemented because of the expansion of education programmes, the addition of two new funded programmes (Empower: Women and girls, Empower: LGBT+) and increased delivery in Fans FC.
There were changes to the Leadership and Management team with the departure of the Health and Wellbeing Manager in April 2021. The decision to streamline the management structure saw the Health and Wellbeing programmes fall under existing management, thereby forming the revised “Communities and Wellbeing” strand. Subsequently, the departure of the NCS Manager in November 2021 saw the NCS programme fall under existing management also, forming the revised “Education and Employability” strand. At present, the two managers accountable for the two strands are “Acting senior managers” as part of the ongoing strategic developments and staffing structure.
Equality Diversity and Inclusion
The current diversity of the Foundation is as follows:
Trustees: 10 (30% Female, 70% Male). 30% (3) of Trustees consider themselves from an ethnic group other than white British/Welsh/Scottish, 10% (1) consider themselves gay/lesbian.
Staff: 42 (13 Female - 31%, 29 Male - 69%) (2019-2020 23% Female, 77% Male). Of the 13 female staff, 46% (6) have line management responsibilities, 7.6% (1) consider themselves to have any physical or mental health conditions or illnesses lasting or expected to last, 15% (2) from an ethnic group other than white British/Welsh/Scottish, 23% (3) are gay/lesbian, with 15% (2) preferring not to answer the question.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
Of the 29 male staff, 59% (17) have line management responsibilities, 13.7% (4) consider themselves to have any physical or mental health conditions or illnesses lasting or expected to last, 17% (5) from an ethnic group other than white British/Welsh/Scottish, 100% are straight/Heterosexual.
Trustees
The Board of Trustees has changed during the reporting period with the appointments of Vicki Anderson (October 2020), Dr Delroy Hall (March 2021) and Princess Reem Bint Abdullah Bin Mosaad Bin Abdulaziz Al Saud (April 2021). Retirements included H.H. Prince. Musaad Bin Khalid Al Saud (March 2021) and Steven Brown (June 2021). The Board comprises of 10 trustees and continues to have proactive involvement in the Community Foundation with roles and responsibilities being shared, based on the Trustees appropriate experience and skills.
Performance Overview
Education & Employability
The education and employability strand continues to have a strong Further and Higher Education offer which saw diversification of learning pathways to accommodate for a broader range of students.
Increased enrolment across a variety of programmes saw 69 (2020: 46) community study programme learners, 42 (2020: 30) women's pathway learners and 30 (2020: 26) Foundation Degree learners enrol in 20-21.
The Futures football development pathway saw a slight reduction in the year, enrolling 29 learners (2020: 34) while the Traineeship programme sustained enrolment with 27 learners during the year (2020: 27). The Foundation continued to deliver to the SUFC Academy scholars , working with 12 learners. A total of 209 (2020: 166) learners achieved with the Foundation in 2020/2021.
The strand particularly excelled across Further Education with 98% (2020: 96%) of learners completing the qualifications they set out on. 100% of graduates accessed Higher Education programmes.
NCS underwent an operational change during 2021 with the reduction of the programme from 3 weeks to 2 weeks, mid recruitment. This unfortunately impacted recruitment and saw 39 young people withdraw. Despite this, NCS recruitment for Summer 2021 saw the Foundation engage 270/305 young people (2020: 537) on the 2-week summer programme, and 95/100 young people on the autumn programme (delivered September), with signups at 90% against the contracted target. Although this was a reduced delivery year, the Foundation continue to deliver NCS and received similar contracted numbers for the following year at 405 young people, showing the strength of the relationship and the quality of the programme.
Communities & Wellbeing
Like 2019/2020, Covid-19 proved challenging for the strand with a series of school closures and restrictions on community engagement and group gatherings between 6th January and 19th July 2021. This impacted on the Foundations ability to continually engage local schools and resulted in lower engagement across Curriculum support and Healthy Schools programmes (4 schools) (2020: 15 schools).
The Foundations football camps were initially reduced because of restrictions over the Easter half term, however, due to additional funding of £56,000 from Sheffield City Council to deliver Holiday Activities and Food (HAF) provision The Foundation were able to provide free places on all our holiday camps for children eligible for free school meals, providing a healthy meal every day they attended too. This resulted in engagement during the summer of 691 children, totalling 1159 children across the delivery year.
Premier League Kicks engaged with 584 /440 (2020: 402/1150) young people between September 2020 and August 2021. This reduction in engagement was agreed with the Premier League Charitable fund as a direct result of the ongoing Covid-19 restrictions. The Joy of Moving programme engaged with 16/14 (2020: 35/10) primary schools, delivering to 930 children, while the formerly paused Premier League Primary Stars programme returned in September 2020 engaging with 33/20 primary schools, supporting 100 PE lessons, and 4391 children throughout the year.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
Fans Fighting Cancer progressed into its second year of delivery in 2020-2021, navigating the covid-19 restrictions to meet the needs of 249 people, delivering 15 physical activity and wellbeing sessions per week both in person and virtually where required. 184 care packages were delivered during the year, providing participants with useful resources to help them stay active during the virtual sessions.
The Communities and Wellbeing strand implemented two new projects because of Sheffield United’s second season in the Premier League, utilising funding from the PFA. The Empower: Womens and Girls and Empower: LGBT+ programmes were launched in March 2021 and engaged with 83 female participants and 331 LGBT + participants and allies in the second half of the delivery year respectively, providing a solid platform to build on in 2021-2022.
The strand also launched Welcome Through Football ; a refugee programme funded by the European Football Development Network (EFDN). The programme launched in April 2021 and engaged 15 refugees within the first 3 months.
Mental Health continued to be a key focus for the Foundation during the year. Utilising allocated funds, the Foundation successfully established Mental Health support sessions for Men, Women and Children, delivering 4 sessions per week in Q4, engaging with 66 people.
Fundraising – Superdraw lotto
In August 2020, the Foundation discussed the transfer of the club's Super draw Lotto, a society lottery that has been functioning for over 30 years, licensed under the Gambling Commission. The aim of the transfer of the Super draw Lotto, and the TUPE transfer of its 2 employees was to generate additional income by way of donation from the lottery, which is set at a minimum of 20% of the total income, as per gambling commission rules for large society lotteries. After consultation with the club and employees under the TUPE agreement, the Foundation adopted the Super draw Lotto and the TUPE transfer on Monday 31 August 2020, with the license for the Super draw being transferred to the Head of Foundation in October 2020. Throughout 20-21, funds raised from the society lottery totalled £78,196.
Funding
The financial position of the Community Foundation has changed with a turnover of £1,817,215 (2020: £1,559,006) and costs of £1,382,283 (2020: £1,192,400), providing a contribution into reserve of £434,933 (2020: £366,606). However, it is noted that £140,826 of the total reserve is restricted for operational costs relating to the future delivery of restricted projects including Empower Women’s and Girls, Empower LGBT+, Ending Forever Isolation, Premier League Primary Stars and Premier League Kicks.
The Foundation continues to develop financial efficiencies which have supported consecutive positive financial positions at year end, cumulating in an unrestricted reserve of £887,422. With Sheffield United Football Club being relegated to the Championship in 2021, the Foundations Core funding has reduced by £60,000 for the 2021-2022 delivery year. However, the Foundations financial forecasts for the 2021-2022 year indicate another positive operating budget that will sustain key charitable outputs despite the ongoing challenges presented because of Covid19, the current economic climate, and the league position of Sheffield United Football Club.
Club Relationship
The key relationship with Sheffield United Football Club continues to be progressive. In 2020-2021, the club appointed additional trustees, which now make up 40% of the whole Trustee Board, demonstrating the continuous development of the working relationship throughout the year and the collaborative approach between the organisations towards supporting the local community. The Foundation work jointly with the club across various themes including Equality, Diversity and Inclusion, match day fan engagement and holistic Safeguarding. Key relationships have been developed throughout the year ensuring clear connectivity, communication, and collaboration.
Reserves Policy
The Foundation’s policy is to retain free reserves at a level which provides adequate working capital and allows it to meet its anticipated commitments in the short and medium term. For this purpose, free reserves are defined as total reserves less restricted reserves. It is considered that free reserves to cover a three-month period are sufficient with a maximum free reserve of six months. The current level of free reserve stands at £887,422, which equates to approximately 7 months operating costs.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
Considering the Foundations general reserve exceeds the reserve policy maximum of 6 months operating costs, the Board of Trustees have approved expenditure of £127,000 in 2021-2022 across 3 areas: People, Projects, and Places as part of the Foundations Investment Policy, thereby reducing the reserve amount to 6 months operating costs.
It is envisaged that the Foundation will continue to invest in the 3 policy areas while ever their maximum reserves are met and will utilise the funds to meet the changing needs of the Sheffield community through the development of its people, the implementation of new projects and investment into facilities.
2021-2022 investment:
£7,000 - Annual subscription for Perkbox – rewards, physical mental and emotional support for staff. £4,000 - Annual subscription for Westfield Health cover for staff. £6,000 - Increase in staff salaries at 1.25% from March 2022.
£70,000 – Investment into ESports facilities to enhance curriculum offer in Further and Higher Education £40,000 – Investment into Mental Health support sessions across Sheffield
Conclusion
Building on the relative success of 2019-2020, and the continuation of activities throughout the various government restrictions, the Foundation has enjoyed a moderately successful year in terms of its intended purpose of creating a healthy, empowered, inclusive community in Sheffield. Consistency in governance, leadership and management helped the Foundation navigate the operational challenges presented by Covid-19 throughout the year. However, it was change that ultimately enabled the Foundation to successfully emerge in a stronger position. Change in attitude from our people to tackle the challenges head on, change in perception from the public on our organisation and our ability to support them, and a change in direction for some of our priorities and programmes: tackling isolation, championing diversity and inclusion with our LGBT+ communities, supporting peoples mental health and helping refugees settle in our city.
Not only is the Foundation in a position to sustain activities, but it is now able to resource the development of new activities, with a clear purpose.
Statement of trustees' responsibilities
The trustees (who are also directors of Sheffield United Community Foundation Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Report of the trustees
The trustees confirm that:
so far as each trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and
the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
D Baker
Chairman and Trustee Date: 7/7/2022
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Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited
Opinion
We have audited the financial statements of Sheffield United Community Foundation Limited (the ‘charitable company’) for the year ended 31 August 2021, which comprise the Statement of financial activities (incorporating the income and expenditure account), the balance sheet, the statement of cash flows and notes to the financial statements, including a summary of 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2021 and of its incoming resources and application of resources including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We have been appointed as auditor under the Companies Act 2006 and report in accordance with regulations made under that Act. 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We are responsible for concluding on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern.
In our evaluation of the trustees’ conclusions, we considered the inherent risks associated with the charitable company’s business model including effects arising from macro-economic uncertainties such as Brexit and Covid-19, we assessed and challenged the reasonableness of estimates made by the trustees and the related disclosures and analysed how those risks might affect the charitable company’s financial resources or ability to continue operations over the going concern period.
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 charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
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.
The responsibilities of the trustees with respect to going concern are described in the ‘Responsibilities of trustees for the financial statements’ section of this report.
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Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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The information given in the Report of the trustees for the financial year for which the financial statements are prepared is consistent with the financial statements.
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The report of the trustees has been prepared in accordance with applicable legal requirements.
Matter on which we are required to report under the Companies Act 2006
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in Report of the trustees.
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 Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a strategic report.
Responsibilities of trustees for the financial statements
As explained more fully in the Trustees' Responsibilities Statement set out on pages 6 and 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited
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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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The Company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if non-compliance were to occur; Charities SORP (FRS102), FRS 102, Charities Act 2006, Data protection Act 2018, the Charity code of Governance and the provision of the trust deed.
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We communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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We understood how the company is complying with those legal and regulatory frameworks by making enquiries of management. We corroborated our enquires through our review of board minutes and legal expenses.
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Audit procedures performed by the engagement team included:
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Evaluation of the controls established to address the risk related to irregularities and fraud.
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Testing manual journal entries, in particular journal entries determined to be large or relating to unusual transactions based on our understanding of the business.
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Identifying and testing related party transaction
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Completion of audit procedures to conclude on the compliance of disclosure in the annual report and accounts with applicable financial reporting requirements.
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These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it.
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Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited
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Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement teams.
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Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation.
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Knowledge of the industry in which the client operates
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Understanding of the legal and regulatory requirements specific to the entity .
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Michael Redfern, FCA Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Sheffield Date: 7/7/2022
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Statement of financial activities (incorporating the income and expenditure account)
| Note Income Donations Engagement activities Total income 4 Expenditure Resources expended Youth engagement activities Total expenditure 5 Net income/(expenditure) before transfers Transfers between funds 13 Net movement in funds Total funds brought forward 13 Fund balances carried forward at 31 August 2021 13 |
Unrestricted funds £ 78,195 1,129,674 |
Restricted funds £ - 609,346 |
Total funds 2021 £ 78,195 1,739,020 |
Total funds 2020 £ - 1,559,006 |
|---|---|---|---|---|
| 1,207,869 | 609,346 | 1,817,215 | 1,559,006 | |
| (741,732) | (640,551) | (1,382,283) | (1,192,400) | |
| (741,732) | (640,551) | (1,382,283) | (1,192,400) | |
| 466,137 - |
(31,205) - |
434,932 - |
366,606 - |
|
| 466,137 421,284 |
(31,205) 172,033 |
434,932 593,317 |
366,606 226,711 |
|
| 887,422 | 140,827 | 1,028,249 | 593,317 |
All activities are classed as continuing.
The accompanying accounting policies and notes form an integral part of these financial statements.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Balance sheet (registered number: 06736385)
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Creditors: amounts falling due after more than one year 11 Net assets 14 Charity funds Restricted funds 12 Unrestricted funds 12 |
2021 £ 34,752 |
2020 £ 32,348 |
|---|---|---|
| 314,533 828,538 |
109,869 766,404 |
|
| 1,143,071 (148,036) |
876,273 (312,761) |
|
| 995,035 | 563,512 | |
| (1,537) | (2,543) | |
| 1,028,249 | 593,317 | |
| 140,827 887,422 |
172,033 421,284 |
|
| 1,028,249 | 593,317 |
The financial statements were approved by the trustees on 7/7/2022
and signed on their behalf by:
D Baker Chairman and Trustee
The accompanying accounting policies and notes form an integral part of these financial statements.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Statement of cash flows
| Cash flows from operating activities Adjustment for: Depreciation Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash generated from operating activities Cash flows from investing activities Purchase of tangible fixed assets Proceeds from disposal of fixed assets Change in cash and cash equivalents in the reporting period Cash flows from financing activities Finance lease Obligations under finance lease Cash and cash equivalents brought forward Cash and cash equivalents carried forward |
2021 £ 434,932 12,698 (204,664) (164,724) |
2020 £ 366,606 32,237 81,128 (1,965) |
|---|---|---|
| 78,242 (15,729) 627 |
478,006 (25,132) - |
|
| (15,102) - (1,006) |
(25,132) - (1,482) |
|
| (1,006) | (1,482) | |
| 766,404 | 315,012 | |
| 828,538 | 766,404 |
The accompanying accounting policies and notes form an integral part of these financial statements.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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1
2
Notes to the financial statements
Company information
Sheffield United Community Foundation Limited is a registered charity and company limited by guarantee. The registered office is Sheffield United Football Club, Bramall Lane, Cherry Street, Sheffield, South Yorkshire, S2 4SU. The charitable company was incorporated in England and Wales.
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are presented in pounds sterling (£).
Company status
The company is a company Limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is Limited to £10 per member of the company. The members of the company are the Board of Trustees.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Income
All incoming resources are included in the Statement of financial activities when the company has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Expenditure
All expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Support costs are those incurred directly in support of expenditure on the objects of the charity. Governance costs are those costs incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Notes to the financial statements
Tangible fixed assets and depreciation
Tangible fixed assets costing £100 or more are capitalised at cost. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor vehicles - 25% straight line Fixtures & fittings - 25% straight line
Irrecoverable Value Added Tax
The Foundation is unable to recover the Value Added Taxation charged on its purchases. The irrecoverable amount is charged to the statement of financial activities.
Taxation
As a registered charity the company is exempt from taxation on its income and gains to the extent that they are applied for its charitable purposes.
Retirement benefits
Defined contribution pension schemes
The pension costs charged in the year represents the amount of the contributions payable to the schemes in respect of the accounting year.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Going concern
The impact of Covid19 in March 2020 saw significant changes to the Foundations operation as a sport development charity, and as a result, dramatically reduced the ability to deliver face to face initiatives, and in some cases halted delivery altogether. While some level of uncertainty remains around the exit route of Covid19 locally and nationally, we have since seen the return of all community projects in either a face to face or digital capacity, and indeed the return of staff to deliver such projects.
Detailed Covid-secure risk assessments and delivery plans have been developed by the management team to ensure a fluid transition from digital to face to face delivery as and when it is appropriate to do so, maintaining engagement with staff and beneficiaries alike.
With funding received from the Premier League in March 2020 and December 2020, covering the period up to August 2021, the trustees are confident in the Foundations ability to continue its operation in the short and medium term.
Stress testing has been undertaken to demonstrate the Foundations ability to meet its liabilities as they fall due for a period of at least 12 months after the date of the financial statements. In addition, with growth in the education department, largely due to digital developments, the Foundation has maintained a strong cash position, despite the setbacks Covid19 provided, which gives confidence to the trustees to deem it appropriate to prepare the financial statements on a going concern basis. The trustees believe that there are no material uncertainties which may cast doubt over the Foundations ability to continue as a going concern.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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3
4
Notes to the financial statements
Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions about the carrying amounts 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. The recognition of income from grants, including their classification as restricted, involves judgement as to whether performance or other entitlement commitments have been met.
Income received
| Donations SUSA Lottery Grants receivable Social Inclusion PL Kickz Programme WT Football Empower W&G Employer LGBT+ EF Isolation NCS Foundation Degree Kinder Head Office PL Primary Stars R Fans FC Camps Traineeships Project income Curriculum support Football Camps Grassroots Football development Healthy Schools Disability Mental Health PL Primary Stars S Education Study programme Traineeship Womens Futures Scholars Extra curriculum PL Kickz Programme Empower W&G Employer LGBT+ EF Isolation Head Office Year End Income |
Unrestricted funds 2021 £ 78,195 - - - - - - 87,687 71,958 - 243,285 - - - 22,607 |
Restricted funds 2021 £ - 21,000 81,272 6,987 43,780 35,000 5,113 70,899 - 14,700 38,470 70,000 113,334 56,760 - |
Total funds 2021 £ 78,195 21,000 81,272 6,987 43,780 35,000 5,113 158,586 71,958 14,700 281,755 70,000 113,334 56,760 22,607 |
Total funds 2020 £ - 4,000 125,000 - - - - 261,722 54,950 22,200 333,025 70,000 83,334 - 13,572 |
|---|---|---|---|---|
| 425,537 | 557,315 | 982,852 | 967,803 | |
| 6,682 71,062 - 2,682 1,624 3,000 3,000 45,882 - 186,753 29,843 141,710 154,880 10,080 20,601 - - - - 26,338 |
- 1,339 41,844 - - - - - - - - - - - - 2,708 420 720 5,000 - |
6,682 72,401 41,844 2,682 1,624 3,000 3,000 45,882 - 186,753 29,843 141,710 154,880 10,080 20,601 2,708 420 720 5,000 26,338 |
7,300 14,477 35,142 3,942 5,395 5,543 6,678 36,382 1,105 161,590 47,560 106,723 104,000 23,360 25,984 760 - - - 5,262 |
|
| 704,137 | 52,031 | 756,168 | 591,203 | |
| 1,207,869 | 609,346 | 1,817,215 | 1,559,006 |
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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5 Resources expended
Notes to the financial statements
| Youth engagement activities | Direct £ 299,309 |
Support costs Salary Overheads £ £ 964,196 118,778 |
Total Total 2021 2020 £ £ 1,382,283 1,192,400 |
|---|---|---|---|
6
Net income
| This is stated after charging: Depreciation of tangible fixed assets Depreciation of finance leases Audit of financial statements |
2021 2020 £ £ 11,691 31,231 1,006 1,006 8,000 7,500 |
|---|---|
During the year, no trustees received any remuneration or benefit in kind (2020: £nil). During the year, no trustees received any reimbursement of expenses (2020: £nil).
7
Staff costs
| Staff costs were as follows: Wages and salaries Social security costs Other pension costs The average monthly number of employees during the period was as follows: |
2021 £ 881,190 62,806 19,964 |
2020 £ 770,080 52,962 18,534 |
|---|---|---|
| 963,960 | 841,576 | |
| 2021 No. 36 |
2020 No. 34 |
The average monthly number of employees during the period was as follows:
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel
Key management personnel within the charitable company is defined as the Head of Foundations.
The total cost of employment in respect of the key management personnel was £68,899 (including employer NIC and employer’s pension contributions).
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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8
Notes to the financial statements
Tangible fixed assets
| Cost At 1 September 2020 Additions Disposals At 31 August 2021 Depreciation At 1 September 2020 Charge for the year Eliminated on disposals At 31 August 2021 Net book amount At 31 August 2021 At 31 August 2020 |
Motor vehicles £ 23,850 - - |
Fixtures & fittings £ 113,672 15,729 (27,235) |
Total £ 137,522 15,729 (27,235) |
|---|---|---|---|
| 23,850 | 102,166 | 126,016 | |
| 23,850 - - |
81,324 12,697 (26,608) |
105,174 12,697 (26,608) |
|
| 23,850 | 67,413 | 91,263 | |
| - | 34,752 | 34,752 | |
| - | 32,348 | 32,348 |
Tangible Fixed Assets includes two assets held at under finance lease with a net book value of £2,516 (2020: £2,600). No additions nor disposals made in relation to the finance leases in the year.
9 Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2021 £ 76,072 69,261 169,200 |
2020 £ 54,908 706 54,255 |
|---|---|---|
| 314,533 | 109,869 |
10 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income Obligations under finance lease |
2021 £ 13,988 23,654 1,764 107,652 978 |
2020 £ 28,333 14,565 3,860 265,024 979 |
|---|---|---|
| 148,036 | 312,761 |
Accruals and deferred income include deferred income of £ nil (2020: £179,945) relating to funding received from the Premier League Charitable Trust in the year for projects starting 1 September 2021.
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Notes to the financial statements
11 Creditors: amounts falling due after more than one year
| Obligations under finance leases 12 Obligations under finance lease Obligations under finance lease within one year Obligations under finance lease due after more than one year |
2021 £ 1,537 |
2020 £ 2,543 |
|---|---|---|
| 2021 £ 978 1,537 |
2020 £ 979 2,543 |
|
| 2,515 | 3,522 |
13 Statement of funds
| Unrestricted funds General funds Restricted funds Restricted funds Total funds |
Brought forward £ 421,284 172,033 |
Incoming resources £ 1,207,869 609,346 |
Resources expended £ 741,732 640,551 |
Transfer £ - - |
Carried forward £ 887,422 140,827 |
|---|---|---|---|---|---|
| 593,317 | 1,817,215 | 1,382,283 | - | 1,028,249 |
Transfer between funds
Management have carried out a detailed review of the various projects carried out under the restricted funds and have identified additional cost relating to the projects which had been incorrectly included under unrestricted funds.
Restricted funds
The restricted income carried forward at 31 August 2021 is made up as follows:
| PL Kicks Grassroots PL Primary Stars Kinder Wembley Fans FC EF Isolation WT Football Empower W&G Empower LGBT+ |
£ 41,576 8,539 4,320 65 2,060 42,404 8,904 3,091 16,684 13,184 |
|---|---|
| 140,827 |
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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2021
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Notes to the financial statements
14 Analysis of net assets between funds
| Tangible fixed assets Current assets Creditors due within one year Creditors due after more than one year |
Restricted funds 2021 £ 2,833 166,746 (28,752) - |
Unrestricted funds 2021 £ 31,919 976,324 (119,284) (1,537) |
Total funds 2021 £ 34,752 1,143,070 (148,036) (1,537) |
Total funds 2020 £ 32,348 876,273 (312,761) (2,543) |
|---|---|---|---|---|
| 140,827 | 887,422 | 1,028,249 | 593,317 |
15 Related party transactions
The related parties, through their relationship as Trustees of the Sheffield United Community Foundation Limited, are:
Sheffield United Football Club Limited: The company made sales of £22,182 this year (2020 £nil). The company incurred charges of £51,400 for accounting support and hire of facilities (2020: £67,477). £4,747 of historic sales ledger balances are subject to a bad debt provision.
Highlander Computing Solutions: The company incurred charges of £9,861 for IT equipment and support services (2020: £17,559).
JB Doors Limited: The company made sales of £3,889 (2020 £nil) for sponsorship of uniforms.
The related parties, through their relationship as employees of the Sheffield United Community Foundation Limited, are:
Sheffield United Supporters Association: The company received donations of £78,195 (2020 £nil). The company operates a payroll for SUSA and received £68,555 (2020 £nil) for payroll cost relating to the SUSA Superdraw Lottery.
16 Capital commitments
There were no capital commitments at 31 August 2021 or 31 August 2020.