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2022-08-31-accounts

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report For the year ended 31 August 2022

Company no 06736385 Charity no 1126620

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

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 P Flower S Basu G Valentine G Saville B Simpson-Lyons M Monteiro V Anderson D Hall L Jones Bankers: Santander Merrion Court 44 Merrion Street LEEDS LS2 8JQ Auditor: Grant Thornton UK LLP 1 Holly Street SHEFFIELD S1 2GT

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

Index to the financial statements

Trustees report (incorporating the strategic report) 1 – 6
Independent auditor's report 7 – 10
Statement of financial activities (incorporating the
income and expenditure account) 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 – 20

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

1

Trustees report (incorporating the strategic report)

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 2022. 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 2019) – (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 2022, 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 P S Flower S Basu G Valentine G Saville B J Simpson-Lyons M D Monteiro V Anderson D W Hall Princess R Abdulaziz Al Saud (resigned 24 December 2022) L Jones (appointed 30 June 2022)

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.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

2

Trustees report (incorporating the strategic report)

Policies and Objectives

The Foundation’s policies and objectives are for the benefit of the public generally and the inhabitants of Sheffield City Region.

The Foundation’s vision is:

A Healthy, Empowered, Inclusive Community.

The Foundation’s Mission is:

Harnessing the power of Sheffield United Football Club, we deliver bespoke programmes that tackle inequalities and provide opportunities to improve people's lives and develop communities.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company 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 eased throughout 2021, which saw significant increases to the Foundation’s operation as a result, in effect making 2021-2022 the Foundations first full delivery year since 2019.

Stress testing has been undertaken to demonstrate the Foundation’s 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 continued growth in the Education and Employability department, and new developments in the Communities and Wellbeing department, 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 cost-of-living crisis. 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.

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 continue to operate from their Head Office 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 continue to operate at sites across the city, namely Handsworth FC and St George’s Park: Westfield, both of which provide bespoke, state of the art facilities that have further enhanced our engagement across education programmes.

The Foundation Senior Leadership Team continued to review its operations throughout the year in line with the development of a strategic plan for the current funding cycle (2022-2025) and as a result, has streamlined its operations to better reflect the charity’s objectives. The Foundation successfully launched the 2022-2025 strategy: Tackling Inequalities, Providing Opportunities in September 2022 and as a result continues to implement its mission through the delivery of 26 ( 2021:24 ) high-quality programmes across the following themes:

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

3

Trustees report (incorporating the strategic report)

Financially, the charity has had a progressive year due to the increase of its operations to pre-pandemic levels. 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 2021-2022, the Foundation worked with 12,081 ( 2021: 7,468 ) individuals ranging from 5 years old to 96 years old. The Foundation’s social value was calculated at £16,850,686 in 21-22 and is evaluated against 4 key areas of Physical health, Mental health, Social/community outcomes and Education, training and employment. Like 2021, the 12,081 individuals engaged in Foundation activities were engaged across all 28 wards in Sheffield.

Structure

Ending the year with 46 FTE ( 2021: 36 ), The Foundation saw a mix of recruitment, increased use of casual staff and the formation of an Operations team to monitor performance of programmes. There were 17 leavers in 2021-2022 ( 2020-2021: 15 ) including 2 Kickstart contracts that naturally concluded. 19 successful appointments were made to fill some of the existing full and part time roles, with new appointments being made in line with additional programme requirements, including Active Through Football, Empower: LGBT+ and Dame Kelly Holmes Trust.

The decision to streamline the management structure saw all programmes align under two departments, namely “Communities and Wellbeing”, and “Education and Employability” strands in 2021. The two managers accountable for the strands undertook “Acting senior manager” positions as part of ongoing strategic development, and subsequently secured the roles on a permanent basis prior to the Strategic launch in September 2022.

Equality Diversity and Inclusion

The current diversity of the Foundation is as follows:

Trustees: 11 (36% Female, 64% Male). 27% (3) of Trustees consider themselves from an ethnic group other than white British/Welsh/Scottish, 9% (1) consider themselves gay/lesbian.

Staff: 46 (17 Female - 37%, 29 Male - 63%) ( 2020-2021 23% Female, 77% Male ).

Of the 17 female staff, 35% (6) have line management responsibilities, 5.9% (1) consider themselves to have any physical or mental health conditions or illnesses lasting or expected to last, 12% (2) from an ethnic group other than white British/Welsh/Scottish, 18% (3) are gay/lesbian, with 12% (2) preferring not to answer the question.

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 appointment of Lauren Jones (30 June 2022). The Board comprises of 11 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 under the employability pathways.

Reduced enrolment because of the lack of face-to-face recruitment events in 2021 saw 129 ( 2021: 152 ) join the Study programme , with 38 ( 2021: 30 ) joining the Foundation Degree across year 1, 2 and 3. The Traineeship programme continued to engage young people not in education, employment or training (NEET) with 23 learners taking part during the year ( 2021: 27 ). A total of 190 ( 2021: 209 ) learners achieved with the Foundation in 2021/2022.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

4

Trustees report (incorporating the strategic report)

The study programme maintained achievement across programmes with 98% ( 2021: 98% ) of learners completing the qualifications they set out on.

NCS saw the return of the residential element of the programme following a two-year break due to Covid19. Unfortunately, due to staffing changes and a national contract delay from EFL Trust, there was an impact on recruitment and delivery as this commenced in January 2022, as opposed to September 2021, as in years previous. Despite this, NCS recruitment for Summer 2022 saw the Foundation engage 261/285 young people (2021: 270). Unfortunately, in December 2022, the EFL Trust were unsuccessful in their tender to remain the lead NCS delivery partner, therefore, the Foundation have ceased to deliver the programme.

Communities & Wellbeing

Fans Fighting Cancer progressed into its third year of delivery in 2021-2022, meeting the needs of 349 people ( 2021: 249 ), delivering 15 physical activity and wellbeing sessions per week both in person and virtually where required.

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, engaging with 191 people across the year ( 2021: 66 ).

Welcome Through Football; a refugee programme funded by the European Football Development Network (EFDN) continued into its second delivery year, engaging 45 refugees throughout the year ( 2021: 15 within 3 months ).

Extra-curricular clubs saw a return to pre-pandemic levels with 132 clubs being delivered throughout the year against a target of 86. Similarly, the Foundations Football camps engaged 6,292 children against a target of 5,700 and with the continuation of Holiday Activities and Food (HAF) provision, the Foundation were able to provide free places on holiday camps for children eligible for free school meals, providing a healthy meal every day they attended too.

Premier League Kicks engaged with 1109/1150 ( 2021: 584 /440) young people within the year across 13 sites in Sheffield. The Joy of Moving programme engaged with 27/27 ( 2021: 16/14 ) primary schools, delivering to 1,674 ( 2021: 930 ) children, while the Premier League Primary Stars programme supported 169/150 PE lessons in 17 primary schools.

The Empower: LGBT+ programme launched in March 2021 continued to strengthen engagement with 1367 participants (2021: 331), while the Empower: Womens and Girls programme engaged 352/250 participants during the year.

Young Leaders w/ Dame Kelly Holmes Trust is a five-month leadership programme for young people aged 1825 aimed at motivated young people, who want to make positive differences within their communities and who are particularly interested in improving health and wellbeing of others. The programme successfully engaged with 16/20 young people in February 2022.

Fundraising – Superdraw lotto

Throughout 21-22, funds raised from the “ Blades Superdraw ” society lottery totalled £77,165 (2021: £78,195).

Funding

The financial position of the Community Foundation has changed with a turnover of £1,950,033 ( 2021: £1,817,215 ) and costs of £1,672,241 ( 2021: £1,382,283 ), providing a contribution into reserves of £277,792 ( 2021: £434,932 ). However, it is noted that £181,688 ( 2021: £140,827 ) of the total reserve is restricted for operational costs relating to the future delivery of restricted projects.

The Foundation continues to develop financial efficiencies which have supported consecutive positive financial positions at year end, cumulating in an unrestricted reserve of £1,124,353. With Sheffield United Football Club narrowly missing out on promotion to the Premier League in 2022, the Foundations Core funding has reduced by a further £85,000 for the 2022-2023 delivery year. However, despite this, and current economic downturn, the Foundation continue to deliver 26 programmes, with further opportunities to expand across both the Education & Employability and Communities & Wellbeing departments.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

5

Trustees report (incorporating the strategic report)

Club Relationship

The key relationship with Sheffield United Football Club continues to be progressive. In 2021-2022, the club appointed an additional trustee, and as a result, the club now make up 50% 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 £1,124,353 , which equates to approximately 7 months operating costs.

Considering the Foundations general reserve exceeds the reserve policy maximum of 6 months operating costs, the Board of Trustees have approved expenditure of £146,299 in 2022-2023 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:

Conclusion

Building on the relative success of 2020-2021 given Covid19 restrictions, the Foundation has enjoyed a highly 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 rebuild engagement to pre-pandemic levels, with new programmes providing additional, accessible and inclusive engagement opportunities for a wider variety of participants. The launch of the Foundation’s strategy not only provides clarity around the sustainability of activities, but also sets out the clear direction of where the Foundation is heading, and the framework in which it intends to get there, whilst remaining consistent to its values, and transparent with the people of Sheffield.

Fundraising

The Foundation works in partnership with a number of Government agencies, local authorities, community partnerships and the voluntary sector. The Foundation does not undertake any fundraising activity or engage with any commercial fundraiser to undertake this activity on its behalf. Any funds received through occasional donations or gifts from individuals are unsolicited and are unconditional.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

6

Trustees report (incorporating the strategic report)

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:

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.

The trustees confirm that:

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies note

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

D Baker

Chairman and Trustee

Date: 29/6/2023

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

7

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 2022, which comprise 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:

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.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Report of the Trustees. 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.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

8

Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited

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 themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 the Report of the Trustees (incorporating the Strategic Report).

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:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 6, 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.

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.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

9

Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited

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:

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.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

10

Independent Auditor's report to the trustees of Sheffield United Community Foundation Limited

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.

Peter Edwards Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Sheffield Date: 29/6/2023

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

11

Statement of financial activities (incorporating the income and expenditure account)

Note
Incoming Resources
Donations
Engagement activities
Total income
4
Expenditure
Resources expended
Youth engagement activities
Total expenditure
5
Net income before transfers
Transfers between funds
13
Net movement in funds
Total funds brought forward
13
Fund balances carried forward at 31 August 2022
13		 Unrestricted
funds
£
77,165
1,174,591		 Restricted
funds
£
-
698,277		 Total funds
2022
£
77,165
1,872,868		 Total funds
2021
£
78,195
1,739,020
1,251,756 698,277 1,950,033 1,817,215
(1,014,825) (657,416) (1,672,241) (1,382,283)
(1,014,825) (657,416) (1,672,241) (1,382,283)
236,931
-		 40,861
-		 277,792
-		 434,932
-
236,931
887,422		 40,861
140,827		 277,792
1,028,249		 434,932
593,317
1,124,353 181,688 1,306,041 1,028,249

All activities are classed as continuing.

The accompanying accounting policies and notes form an integral part of these financial statements.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

12

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
13
Unrestricted funds
13		 2022
£
35,433		 2021
£
34,752
494,369
957,199		 314,533
828,538
1,451,568
(180,428)		 1,143,071
(148,036)
1,271,140 995,035
(532) (1,537)
1,306,041 1,028,249
181,688
1,124,353		 140,827
887,422
1,306,041 1,028,249

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved by the trustees on

29/6/2023 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.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

13

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
Obligations under finance lease
Change in cash in the year

Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2022
£
277,792
15,632
(179,836)
32,392		 2021
£
434,932
12,698
(204,664)
(164,724)
145,980
(16,313)
-		 78,242
(15,729)
627
(16,313)
(1,006)		 (15,102)
(1,006)
128 661
828,538		 62,134
766,404
957,199 828,538

The accompanying accounting policies and notes form an integral part of these financial statements.

DocuSign Envelope ID: 37E4C255-A229-47C4-9C58-1673329813CC

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

14

1

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.

2 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 2019) – (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 2022

15

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

After making appropriate enquiries, the trustees have a reasonable expectation that the company 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 eased throughout 2021, which saw significant increases to the Foundation’s operation as a result, in effect making 2021-2022 the Foundations first full delivery year since 2019.

Stress testing has been undertaken to demonstrate the Foundation’s 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 continued growth in the Education and Employability department, and new developments in the Communities and Wellbeing department, 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.

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.

3

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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

16

4 Income received

Notes to the financial statements

Donations
SUSA Lottery
Grants receivable
Social Inclusion
PL Kickz Programme
WT Football
Empower W&G
Employer LGBT+
EF Isolation
NCS
Skillsbooster
Active Through Football
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
Active Through Football
Study programme
Traineeship
Foundation Degree
Womens
Futures
Scholars
Extra curriculum
PL Kickz Programme
Empower W&G
Employer LGBT+
EF Isolation
Head Office
NCS
Weight Management
Dame Kelly Holmes Trust
Street Soccer
Twinning
Year End Income		 Unrestricted
funds
2022
£
77,165
-
-
-
-
-
-
134,025
35,490
-
98,100
-
207,215
2,000
-
500
280		 Restricted
funds
2022
£
-
-
95,422
10,843
46,000
47,500
-
84,094
-
52,500
-
22,704
8,000
70,000
131,666
46,821
-		 Total funds
2022
£
77,165
-
95,422
10,843
46,000
47,500
-
218,119
35,490
52,500
98,100
22,704
215,215
72,000
131,666
47,321
280		 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
477,610 615,550 1,093,160 982,852
3,038
81,683
-
213
392
2,000
2,000
65,191
-
443,699
35,683
980
-
-
-
40,703
-
-
-
-
12,069
364
150
-
6,316
2,500		 -
-
43,176
-
-
-
-
-
7,500
-
-
-
-
-
-
-
4,228
7,420
5,000
-
-
-
-
15,404
-
-		 3,038
81,683
43,176
213
392
2,000
2,000
65,191
7,500
443,699
35,683
980
-
-
-
40,703
4,228
7,420
5,000
-
12,069
364
150
15,404
6,316
2,500		 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
-
-
-
-
-
696,981 82,728 779,709 756,168
1,251,756 698,277 1,950,033 1,817,215

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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

17

5

Notes to the financial statements

Resources expended

6

Youth engagement activities
Net income
This is stated after charging:
Depreciation of tangible fixed assets
Depreciation of finance leases
Audit of financial statements		 Direct
£
404,839		 Support costs
Salary
Overheads
£
£
1,124,250
143,152		 Support costs
Salary
Overheads
£
£
1,124,250
143,152		 Support costs
Salary
Overheads
£
£
1,124,250
143,152		 Total
Total
2022
2021
£
£
1,672,241
1,382,283
2022
2021
£
£
14,626
11,691
1,006
1,006
14,000
8,000

Net income

During the year, no trustees received any remuneration or benefit in kind (2021: £nil). During the year, no trustees received any reimbursement of expenses (2021: £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:		 2022
£
1,035,102
66,465
22,683		 2021
£
881,190
62,806
19,964
1,124,250 963,960
2022
No.
46		 2021
No.
36

The average monthly number of employees during the period was as follows:

One (2021: one) 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 Foundation.

The total cost of employment in respect of the key management personnel was £73,610 (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 2022

18

8

Notes to the financial statements

Tangible fixed assets

Cost
At 1 September 2021
Additions
Disposals
At 31 August 2022
Depreciation
At 1 September 2021
Charge for the year
Eliminated on disposals
At 31 August 2022
Net book amount
At 31 August 2022
At 31 August 2021		 Motor
vehicles
£
23,850
-
-		 Fixtures
& fittings
£
102,166
16,312
-		 Total
£
126,016
16,312
-
23,850 118,478 142,328
23,850
-
-		 67,413
15,632
-		 91,263
15,632
-
23,850 83,045 106,895
- 35,433 35,433
- 34,752 34,752

Tangible Fixed Assets includes two assets held at under finance lease with a net book value of £1,510 (2021: £2,516). No additions nor disposals were made in relation to the finance leases in the year.

9 Debtors

Trade debtors
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Obligations under finance leases		 2022
£
99,866
-
394,503		 2021
£
76,072
69,261
169,200
494,369 314,533
2022
£
9,907
33,460
2,155
133,929
977		 2021
£
13,988
23,654
1,764
107,652
978
180,428 148,036

10 Creditors: amounts falling due within one year

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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

19

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 leases within one year
Obligations under finance leases due after more than one year		 2022
£
532		 2021
£
1,537
2022
£
977
532		 2021
£
978
1,537
1,509 2,515

13 Statement of funds

Unrestricted funds
General funds
Restricted funds
Restricted funds
Total funds		 Brought
forward
£
887,422
140,827		 Incoming
resources
£
1,251,756
698,277		 Resources
expended
£
1,014,825
657,416		 Transfer
£
-
-		 Carried
forward
£
1,124,353
181,688
1,028,249 1,950,033 1,672,241 - 1,306,041

Restricted funds

The restricted income carried forward at 31 August 2022 is made up as follows:

Head Office
NCS
PL Kicks
Grassroots
PL Primary Stars
Kinder
Wembley
Fans FC
EF Isolation
WT Football
DKH Trust
AT Football
Empower W&G
Empower LGBT+		 £
7,322
5,175
14,028
8,127
165
2,868
2,060
52,180
4,765
489
7,657
24,648
29,297
22,907
181,688

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Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2022

20

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
2022
£
10,020
199,343
(27,675)
-		 Unrestricted
funds
2022
£
25,413
1,252,225
(152,753)
(532)		 Total funds
2022
£
35,433
1,451,568
(180,428)
(532)		 Total funds
2021
£
34,752
1,143,070
(148,036)
(1,537)
181,688 1,124,353 1,306,041 1,028,249

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 £8,250 this year (2021: £22,182). The company incurred charges of £73,181 for accounting support and hire of facilities (2021: £51,400). £4,747 of historic sales ledger balances are subject to a bad debt provision. The Charitable company was owed £3,240 by Sheffield United Football Club Limited and was owed £11,347 by the Club.

Highlander Computing Solutions: The company was not a related party for IT equipment and support services in the year (2021: £9,861).

JB Doors Limited: The company made sales of £6,111 (2021: £3,889) 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 £77,165 (2021: £78,195). The company operates a payroll for SUSA and received £71,126 (2021: £68,555) for payroll and other costs relating to the SUSA Superdraw Lottery.

16 Capital commitments

There were no capital commitments at 31 August 2022 or 31 August 2021.