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← Sheffield United Community Foundation

2023-08-31-accounts

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report For the year ended 31 August 2023

Company no 06736385 Charity no 1126620

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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 2023. 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 2023, 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 (resigned 24 January 2023) 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

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: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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. The forecast has been prepared to August 2025. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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, 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 Limited has, like many charities, been continually challenged by the economic climate in 2022-2023. 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 challenges and maintains its strong reputation in the city region as a high-quality and trustworthy 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 office and classroom space within the stadium as a central delivery location. Foundation programmes continue to operate at 85 sites across the city, all of which provide bespoke facilities that cater to the needs of our programme participants and ensure we remain cognizant of our aim to be within 10 minutes of our participants travel time from an engagement and an environmental sustainability perspective.

The Foundation Senior Leadership Team continued to review its operations throughout the year in line with the implementation of its strategic plan where continued delivery of 26 ( 2022:26 ) high-quality programmes across the following themes:

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

3

Trustees report (incorporating the strategic report)

Financially, 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 2022-2023, the Foundation worked with 10,958 ( 2022: 12,081 ) individuals ranging from 0 years ( 2022: 5 ) old to 95 ( 2022: 96 ) years old. Like 2022, the 10,958 individuals engaged in Foundation activities were engaged across all 28 wards in Sheffield, across 85 delivery sites. The average contact time per participant was 46 hours ( 2021-2022 : 25 hours).

Structure

Ending the year with 43 FTE ( 2022: 46 ), The Foundation saw a mix of recruitment and increased use of casual staff. There were 39 leavers in 2022-2023 ( 2021-2022: 17 ) with 28 successful appointments being made to fill some of the existing full and part time roles, with new appointments being made in line with additional programme requirements, including ESports, Premier League Inspires, Youth Hubs and Youth Services. The gap in starters and leavers signifies the end of the NCS contract the year previous, where casual employees were not replaced.

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. Note: 2 trustees retired during the year.

Staff: 44 FTE (43 FT, 8 PT, 9 Trustees), 20 Female (33%), 40 Male - (67%) ( 2021-2022 37% Female, 63% Male ).

Of the 20 female staff (including part time), 35% (7) have line management responsibilities, 17% consider themselves to have any physical or mental health conditions or illnesses lasting or expected to last, 15% from an ethnic group other than white British/Welsh/Scottish, 30% are gay/lesbian, with 10% preferring not to answer the question.

Of the 40 male staff (including part time), 48% (19) have line management responsibilities, 10% (4) consider themselves to have any physical or mental health conditions or illnesses lasting or expected to last, 25% (10) from an ethnic group other than white British/Welsh/Scottish, 98% are straight/Heterosexual, with 2% preferring not to answer the question.

Trustees

The Board of Trustees has changed during the reporting period with the resignation of Princess Reem Bint Abdullah Bin Mosaad Bin Abdulaziz Al Saud (24[th] December 2022) and Dr Subhashis Basu (24[th] January 2023). The Board comprises of 9 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 department continues to have a strong Further and Higher Education offer which saw diversification of learning pathways to accommodate for a broader range of learners throughout the year.

Increased recruitment events in 2022-2023 saw improved enrolment with 140 learners joining the Study programme ( 2022: 129 ), and 43 ( 2022: 38 ) joining the Foundation Degree across year 1, 2 and 3. In addition to the Study Programme, the Foundation launched its first Esports programme in September 2022 with 17 learners enrolling in the accredited BTEC programme in its first year.

The Traineeship programme continued to engage young people not in education, employment or training (NEET) with 28 learners taking part during the year ( 2022: 23 ), while the Street Soccer Academy , a programme tackling youth homelessness, provided a learning and development opportunity for 19 young people aged 17-25.

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

4

Trustees report (incorporating the strategic report)

The Twinning Project is a partnership between HM Prison and Probation Service (HMPPS) and professional football clubs with the objective of twinning every prison in England and Wales with a local professional football club to deliver programmes that improve mental and physical health, wellbeing and a includes an accredited qualification which will help improve prisoners' life chances on release. We are currently twinned with HMP Moorlands and engaged 29 prisoners on the programmes in 2022-2023.

New programmes aiming to enhance employability and reduce disengagement with education included the Premier League Inspires programme (engaging 96 secondary school pupils across 3 schools) and the Youth Hubs programme, funded by the Department for Work and Pensions (engaging 83 young people aged 18-25 who are in receipt of Universal Credit).

A total of 455 ( 2022: 190 ) learners achieved with the Foundation in 2022/2023.

Communities & Wellbeing

Fans Fighting Cancer progressed into its fourth year of delivery in 2022-2023, meeting the needs of 476 people ( 2022: 349 ), 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 delivered Mental Health support sessions for Men, Women and Children, delivering 28 sessions throughout the year, engaging with 715 people across the year ( 2022: 191 ).

Welcome Through Football; a refugee programme funded by the European Football Development Network (EFDN) continued into its third delivery year, engaging 45 refugees throughout the year ( 2022: 45 ).

Extra-curricular clubs saw an increase in engagement with 196 ( 2022: 132 ). Similarly, the Foundations Football camps saw 10,696 bookings ( 2022: 6,292 ) across the year 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 1,014/1,000 ( 2022: 1,109/1,150) young people within the year across 19 sites in Sheffield. The Joy of Moving programme engaged with 19 ( 2022: 27 ) primary schools, delivering to 1,074 ( 2022: 1,674 ) children, while the Premier League Primary Stars programme supported 95/88 PE lessons in schools across the city.

The Empower: LGBT+ programme continued to strengthen engagement with 1,033 participants, while the Empower: Women and Girls programme engaged 685 participants during the year.

Active through Football , funded by Sport England via the Football Foundation, aims to engage inactive people aged 16+ in Burngreave and Parsons Cross through recreational football activities. We are the lead organisation for the project on behalf of a consortium of partners which include Yorkshire Sport Foundation, Sheffield City Council, Sheffield Wednesday Community Programme, VAS, Sheffield & Hallamshire CFA, SOAR Community and other voluntary sector organisations. The programme engaged with 56 /40 participants in its first year.

Our Grassroots Women and Girls programme continues to support football provision for 15 teams, comprising of 233 players aged U8 to open age. The club continues to be the biggest girls only football club in the region.

Weight Management support sessions for children and adults provide nutritional advice and physical activity sessions designed to help people live a healthier lifestyle. The aim is to improve the health and wellbeing of adults, young people and children in the communities in which we operate. The programme engaged with 40 /15 women across the year and started to engage with children (9) because of ongoing development.

Fundraising – Superdraw lotto

Throughout 22-23, funds raised from the “ Blades Superdraw ” society lottery totalled £87,347 (2022: £77,165).

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

5

Trustees report (incorporating the strategic report)

Funding

The financial position of the Community Foundation has changed with a turnover of £2,034,885 ( 2022: £1,950,033 ) and costs of £1,970,781 ( 2022: £1,672,241 ), providing a contribution into reserves of £64,104 ( 2022: £277,792 ). However, it is noted that £57,121 ( 2022: £181,688 ) 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 £1,131,336. With Sheffield United Football Club gaining promotion to the Premier League in 2023, the Foundations Core funding has increased by £65,000 for the 2023-2024 delivery year.

Club Relationship

The key relationship with Sheffield United Football Club continues to be progressive. At the end of 2022-2023, the club held 3 trustee positions, and as a result, makes up 33% of the whole Trustee Board. Additional appointments of at least 2 club representatives are planned for 23-24 to bring the total to 50%, demonstrating the continuous development of the working relationship. 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 £1,131,336 , which equates to approximately 6 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 £126,575 in 2023-2024 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.

2023-2024 investment:

Conclusion

Building on the success of 2021-2022, 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, financial management, leadership and operations management helped the Foundation diversify engagement, with new programmes providing additional, accessible and inclusive engagement opportunities for a wider variety of participants, whilst creating sustainable pathways for lifelong success.

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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 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:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.

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.

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D Baker

Chairman and Trustee

28/3/2024 Date:

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

7

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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 2023, 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 inflation and cost of living, 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 Trustees report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Trustees report. 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: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

8

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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 Trustees report (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 5, 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: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

9

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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: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

10

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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.

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Peter Edwards Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Sheffield Date: 28/3/2024

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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 2023
13		 Unrestricted
funds
£
87,347
1,149,131		 Restricted
funds
£
-
798,407		 Total funds
2023
£
87,347
1,947,538		 Total funds
2022
£
77,165
1,872,868		 Total funds
2022
£
77,165
1,872,868
1,236,478 798,407 2,034,885 1,950,033
(1,229,495) (741,286) (1,970,781) (1,672,241)
(1,229,495) (741,286) (1,970,781) (1,672,241)
6,983
-		 57,121
-		 64,104
-		 277,792
-
6,983
1,124,353		 57,121
181,688		 64,104
1,306,041		 277,792
1,028,249
1,131,336 238,809 1,370,145 1,306,041

All activities are classed as continuing.

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

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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		 2023
£
95,566		 2022
£
35,433
495,165
1,025,740		 494,369
957,199
1,520,905
(246,326)		 1,451,568
(180,428)
1,274,579 1,271,140
- (532)
1,370,145 1,306,041
238,809
1,131,336		 181,688
1,124,353
1,370,145 1,306,041

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

and signed on their behalf by:

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D Baker

Chairman and Trustee

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

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

13

Statement of cash flows

Cash flows from operating activities
Adjustment for:
Depreciation
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Loss on disposal of fixed assets
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		 2023
£
64,104
30,502
(796)
66,372
1,994		 2022
£
277,792
15,632
(179,836)
32,302
-
162,176
(92,629)
-		 145,980
(16,313)
-
(92,629)
(1,006)		 (16,313)
(1,006)
68,541
957,199		 128,661
828,538
1,025,740 957,199

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

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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.

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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 Gaming Computers - 33% 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. The forecast has been prepared to August 2025. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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, 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

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited

16

Annual Report for the year ended 31 August 2023

4

Notes to the financial statements

Income received

Donations
SUSA Lottery
Grants receivable
Universal Youth Grant
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
PL Inspires
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
Youth Hub
Fans FC
Extra curriculum
PL Kickz Programme
Empower W&G
Employer LGBT+
Memory Lane
Head Office
NCS
Weight Management
Dame Kelly Holmes Trust
Street Soccer
Twinning
Esports
Year End Income		 Unrestricted
funds
2023
£
87,347
-
-
-
-
-
-
(8,652)
25,900
-
107,775
-
90,375
-
-
-
-
-		 Restricted
funds
2023
£
-
65,300
127,175
15,209
44,000
47,500
-
(5,175)
-
105,000
-
16,268
-
75,000
131,668
52,719
-
50,000		 Total funds
2023
£
87,347
65,300
127,175
15,209
44,000
47,500
-
(13,827)
25,900
105,000
107,775
16,268
90,375
75,000
131,668
52,719
-
50,000		 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
-
215,398 724,664 940,062 1,093,160
-
146,511
-
-
-
-
-
92,735
-
479,176
69,320
3,605
21,642
-
56,085
-
-
-
-
2,071
-
-
-
6,192
5,000
51,396		 -
1,980
38,500
-
-
-
-
-
-
-
-
-
-
20,000
-
6,445
2,200
5,000
2,600
-
-
-
(2,982)
-
-
-		 -
148,491
38,500
-
-
-
-
92,735
-
479,176
69,320
3,650
21,642
20,000
56,085
6,445
2,200
5,000
2,600
2,071
-
-
(2,982)
6,192
5,000
51,396		 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
-
933,733 73,743 1,007,476 779,709
1,236,478 798,407 2,034,885 1,950,033

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited

17

Annual Report for the year ended 31 August 2023

5

Notes to the financial statements

Resources expended

Youth engagement activities Direct
£
551,125		 Support costs
Salary
Overheads
£
£
1,240,412
179,244		 Total
Total
2023
2022
£
£
1,970,781
1,672,241

6

Net income

This is stated after charging:
Depreciation of tangible fixed assets
Depreciation of finance leases
Audit of financial statements		 2023
2022
£
£
29,496
14,626
1,006
1,006
22,200
14,000

During the year, no trustees received any remuneration or benefit in kind (2022: £nil). During the year, no trustees received any reimbursement of expenses (2022: £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:		 2023
£
1,127,476
87,396
25,540		 2022
£
1,035,102
66,465
22,683
1,240,412 1,124,250
2023
No.
44		 2022
No.
46

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

One (2022: 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 £76,778 (including employer NIC. and employer’s pension contributions).

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

18

8

Notes to the financial statements

Tangible fixed assets

Cost
At 1 September 2022
Additions
Disposals
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
Eliminated on disposals
At 31 August 2023
Net book amount
At 31 August 2023
At 31 August 2022		 Motor
vehicles
£
23,850
-
-		 Fixtures
& fittings
£
118,478
92,629
(38,778)		 Total
£
142,328
92,629
(38,778)
23,850 172,329 196,179
23,850
-
-		 83,045
30,502
(36,784)		 106,895
30,502
(36,784)
23,850 76,763 100,613
- 95,566 95,566
- 35,433 35,433

Tangible Fixed Assets includes two assets held at under finance lease with a net book value of £503 (2022: £1,510). 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		 2023
£
294,876
-
200,289		 2022
£
99,866
-
394,503
495,165 494,369

Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Obligations under finance leases		 2023
£
22,028
31,726
1,974
190,095
503		 2022
£
9,907
33,460
2,155
133,929
977
246,326 180,428

10

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2023

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		 2023
£
-		 2022
£
532
2023
£
503
-		 2022
£
977
532
503 1,509

13 Statement of funds

Unrestricted funds
General funds
Restricted funds
Restricted funds
Total funds		 Brought
forward
£
1,124,353
181,688		 Incoming
resources
£
1,236,478
798,407		 Resources
expended
£
1,229,495
741,286		 Transfer
£
-
-		 Carried
forward
£
1,131,336
238,809
1,306,041 2,034,885 1,970,781 - 1,370,145

Restricted funds

The restricted income carried forward at 31 August 2023 is made up as follows:

Head Office
NCS
PL Kicks
Grassroots
PL Primary Stars
Kinder
Wembley
Fans FC
EF Isolation
Memory Lane
WT Football
DKH Trust
AT Football
Empower W&G
Empower LGBT+
PL Inspires
Youth Services		 £
5,179
-
7,991
3,338
3,246
2,105
2,059
46,427
1,429
2,600
1,642
-
55,248
23,616
30,215
4,002
49,712
238,809

DocuSign Envelope ID: 3AB6E39C-1F88-420C-AD84-3D3BD3D2A57D

Sheffield United Community Foundation Limited

20

Annual Report for the year ended 31 August 2023

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
2023
£
7,910
284,059
(53,160)
-		 Unrestricted
funds
2023
£
87,656
1,236,846
(193,166)
-		 Total funds
2023
£
95,566
1,520,905
(246,326)
-		 Total funds
2022
£
35,433
1,451,568
(180,428)
(532)
238,809 1,131,336 1,370,145 1,306,041

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 £3,014 this year (2022: £8,250). The company incurred charges of £144,660 for accounting support and hire of facilities (2022: £73,181). £4,747 of historic sales ledger balances are subject to a bad debt provision. The Charitable company owed £6,240 to Sheffield United Football Club Limited and was owed £14,361 by the Club.

J B Doors Limited: The company made sales of £nil (2022: £6,111) for sponsorship of uniforms.

The related parties, through their relationship as employees of the Sheffield United Community Foundation Limited, are:

Sheffield Chamber of Commerce. The company incurred charges of £3,656 for patronage (2022: £nil) Sheffield United Supporters Association: The company received donations of £87,347 (2022: £77,165). The company operates a payroll for SUSA and received £56,922 (2022: £71,126) for payroll and other costs relating to the SUSA Superdraw Lottery.

There were no capital commitments at 31 August 2023 or 31 August 2022.

16 Capital commitments