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← Sheffield United Community Foundation

2024-08-31-accounts

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report For the year ended 31 August 2024

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

Index to the financial statements

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 S Flower G Valentine (resigned 18 June 2024) G Saville B J Simpson-Lyons M D Monteiro V Anderson (resigned 28 November 2023) D W Hall (resigned 21 December 2023) L Jones (resigned 10 April 2024) L Clarke N Sheppard D Andrew (appointed 16 September 2024) P Fielder (appointed 17 September 2024) S Hancock (appointed 11 September 2024) A Little (appointed 17 September 2024)

Bankers:

Auditor:

Santander UK plc Merrion Court 44 Merrion Street LEEDS LS2 8JQ Grant Thornton UK LLP Royal Liver Building Liverpool L3 1PS

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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 2024. 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 2024, 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 G Valentine (resigned 18 June 2024) G Saville B J Simpson-Lyons M D Monteiro V Anderson (resigned 28 November 2023) D W Hall (resigned 21 December 2023) L Jones (resigned 10 April 2024) L Clarke N Sheppard D Andrew (appointed 16 September 2024) P Fielder (appointed 17 September 2024) S Hancock (appointed 11 September 2024) A Little (appointed 17 September 2024)

During the year the charitable company provided its trustees with third party indemnity insurance.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

2

Trustees report (incorporating the strategic report)

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.

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 Trustees have had regard to the Charity Commission’s guidance on public benefit.

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 2026. 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

The Foundation continues 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 ( 2023:26 ) high-quality programmes across the following themes:

During 2023-2024, the Foundation worked with 14,328 ( 2023: 10,958 ) individuals. Like 2023, the 14,328 individuals engaged in Foundation activities were engaged across all 28 wards in Sheffield, across 85 delivery sites.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

3

Trustees report (incorporating the strategic report)

Structure

Ending the year with 48 FTE ( 2023: 43 ), The Foundation saw a mix of recruitment and increased use of casual staff. There were 21 leavers in 2023-2024 ( 2022-2023: 39 ) with 23 successful appointments being made to fill some of the existing full and part time roles.

Equality Diversity and Inclusion

The current diversity of the Foundation is as follows:

Gender

These percentages highlight a predominantly male workforce across all levels, with the highest representation of women in Delivery Staff roles.

Race and Ethnicity

Overall, the Foundation comprises 109 White individuals (79.6%), 2 Mixed (1.5%), 5 Asian (3.6%), 17 Black (12.4%), and 4 Other (2.9%). The data highlights limited diversity in Middle Management and Senior Leadership compared to Delivery Staff.

Trustees

The Board of Trustees has changed during the reporting period with the resignation of Vicki Anderson (28[th] November 2023), Dr Delroy Hall (21[st] December 2023) and Lauren Jones (10[th] April 2024). The appointment of Lynn Clarke (11[th] June 2024) and Nick Sheppard (18[th] June 2024) was followed by post year end appointments from Club staff, taking the board to 11 trustees as of September 2024.

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.

2023-2024 saw increased enrolment with 154 learners joining the Study programme ( 2023: 140 ), and 45 ( 2023: 43 ) joining the Foundation Degree across year 1, 2 and 3. Addition learners took the Esports programme to 25 (2023:17) learners in its third year.

The Twinning and Probation Project engaged 62 offenders on the programme in 2023-2024.

The Premier League Inspires programme engaged 162 (2023:96) secondary school pupils across 6 schools and the Youth Hubs programme, funded by the Department for Work and Pensions engaged 187 (2023:83) young people aged 18-25 who are in receipt of Universal Credit.

Nature based Blades , an environmental sustainability programme delivered in secondary schools, engaged with 30 pupils in 2023-2024 in its first year.

NCS – Be on side , a programme aimed at supporting young people with Social Mixing, Independent living and Personal Development, engaged with 250 participants in the summer of 2024.

Communities & Wellbeing

Fans Fighting Cancer progressed into its fifth year of delivery in 2023-2024, meeting the needs of 490 ( 2023: 476 ) people affected by cancer in Sheffield.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

4

Trustees report (incorporating the strategic report)

Mental Health continued to be a key focus for the Foundation during the year. Utilising allocated funds, the Foundation successfully saw 237 men, 265 women and 235 children and young people engaged in programmes.

Football camps saw 5,962 participants across the year with 954 girls engaged.

Premier League Kicks engaged with 1,008/1,000 ( 2023: 1,014/1,000) young people within the year. The Joy of Moving programme engaged with 19 ( 2023: 19 ) primary schools, delivering to 1,585 ( 2023: 1,074 ) children, while the Premier League Primary Stars programme engaged 80 teachers in CPD support whilst also supporting 11 mass participation events with 36 targeted interventions to 1,870 children.

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 100 (2023:56) participants in its second year.

Our Grassroots Women and Girls programme continues to support football provision for 15 teams. The club continues to be the biggest girls only football club in the region.

Incoming Resources

The Foundation achieved total income off £2,085,894 ( 2023: £2,034,885 ), an increase of £2.5% from the previous year. This was derived from :

Donations of £100,394 (2023: £87,347), reflecting an increase of 15%.

Engagement Activities £1,985,500 (2023: £1,947,538) . Consisting of £1,437,828 from unrestricted funds and £547,672 from restricted funds.

Expenditure

Total expenditure amounted to £2,310,630 ( 2023: £1,970,781 ), with resources expended as follows:

Youth Engagement Activities: £2,310,630, split between unrestricted (£1,493,978) and restricted (£816,652) funds.

The 17% increase in total expenditure reflects the scaling of activities to meet increasing community needs and the continuation of targeted programmes supported by restricted funding.

Net Income and Transfers

Net income before transfers stood at £(224,736) (2023: £64,104). Following transfers between funds of £83,665, the net movement in funds for the year was split as follows:

Unrestricted Funds : £(39,421)

Restricted Funds: £(185,315)

Fund Balances

The Foundation carried forward total funds of £1,145,409 as of 31 August 2024, compared to £1,370,145 in the prior year. This comprises:

Unrestricted Funds: £1,091,915 (2023: £1,131,336)

Restricted Funds: £53,494 (2023: £238,809)

The reduction in restricted funds is attributed to the strategic deployment of these resources for programme delivery. Unrestricted reserves continue to provide a strong financial foundation for future operations.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

5

Trustees report (incorporating the strategic report)

Financial Sustainability and Impact

The Trustees remain committed to ensuring the long-term sustainability of the Foundation’s activities. Despite the net reduction in funds during the reporting period, the organisation has maintained a robust financial position, with unrestricted reserves of £1,091,915, ensuring resilience against future challenges and supporting the delivery of impactful programmes.

This financial performance highlights the Foundation’s ability to adapt and grow while maintaining a clear focus on community engagement, youth support, and sustainability.

Club Relationship

The partnership with Sheffield United Football Club remains strong and progressive. At the end of 2023-2024, the club held 5 trustee positions, and as a result, makes up 45% of the whole Trustee Board, reflecting the continued growth of this collaboration. The Foundation and the Club worked together across areas such as Equality, Diversity and Inclusion, match day fan engagement and holistic Safeguarding. Strong relationships were fostered throughout the year, ensuring effective communication, coordination and alignment.

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 £1,091,915, which equates to approximately 5.6 months operating costs.

Conclusion

Following the achievements of 2022-2023, the Foundation had another highly successful year, advancing its mission to create a healthy, empowered, inclusive community in Sheffield. Effective governance, financial management, leadership and operations enabled the Foundation to expand its reach. New programmes introduced accessible and inclusive opportunities for diverse participants, establishing sustainable pathways for long-term success.

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:

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

6

Trustees report (incorporating the strategic report)

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.

D Baker Chairman and Trustee

Date: 9/5/2025

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

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 2024, which comprise Statement of Financial Activities, Balance sheet, Statement of Cash Flow 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.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

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 Trustees’ Report (incorporating the Strategic Report) included in the Trustee 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.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

9

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

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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

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.

Gareth Hitchmough BSc FCA

Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Liverpool Date: 9/5/2025

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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 2024
13		 Unrestricted
funds
£
100,394
1,437,828		 Restricted
funds
£
-
547,672		 Total funds
2024
£
100,394
1,985,500		 Total funds
2023
£
87,347
1,947,538		 Total funds
2023
£
87,347
1,947,538
1,538,222 547,672 2,085,894 2,034,885
(1,493,978) (816,652) (2,310,630) (1,970,781)
(1,493,978) (816,652) (2,310,630) (1,970,781)
44,244
(83,665)		 (268,980)
83,665		 (224,736)
-		 64,104
-
(39,421)
1,131,336		 (185,315)
238,809		 (224,736)
1,370,145		 64,104
1,306,041
1,091,915 53,494 1,145,409 1,370,145

All activities are classed as continuing.

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

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

12

Balance sheet (registered number: 06736385)

Note 2024 2023
£ £
Fixed assets
Tangible assets 8 115,445 95,566
Current assets
Debtors 9 413,247 495,165
Cash at bank and in hand 958,274 1,025,740
1,371,521 1,520,905
Creditors: amounts falling due within one year 10 (341,090) (246,326)
Net current assets 1,051,293 1,274,579
Creditors: amounts falling due after more than one year 11 (467) -
Net assets 14 1,145,409 1,370,145
Charity funds
Restricted funds 13 53,494 238,809
Unrestricted funds 13 1,091,915 1,131,336
1,145,409 1,370,145

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.

9/5/2025 The financial statements were approved by the trustees on 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.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

13

Statement of cash flows

Cash flows from operating activities
Adjustment for:
Depreciation
Decrease/(increase) in debtors
Increase in creditors
Gain/(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		 2024
£
(224,736)
41,586
81,918
95,914
(30)		 2023
£
64,104
30,502
(796)
66,372
1,994
(5,348)
(61,465)
31		 162,176
(92,629)
-
(61,434)
(684)		 (92,629)
(1,006)
67,466
1,025,740		 68,541
957,199
958,274 1,025,740

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

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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), the provisions of FRS102 Section 1Asmall entities 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.

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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 2026. 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

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

16

4 Income received

Notes to the financial statements

Donations
SUSA Lottery
Grants receivable
Universal Youth Grant
PL Kickz Programme
WT Football
Empower W&G
Employer LGBT+
Nature Based Blades
NCS
Skillsbooster
Active Through Football
Foundation Degree
Kinder
Head Office
PL Primary Stars R
Fans FC
Camps
Healthy Fans Healthy Futures
PL Inspires
Project income
Curriculum support
Football Camps
Grassroots
PL Primary Stars S
Nature Based Blades
Study programme
Traineeship
Probation
Foundation Degree
Youth Hub
Fans FC
PL Inspires S
Extra curriculum
PL Kickz Programme
Empower W&G
Employer LGBT+
Memory Lane
Head Office
NCS
Healthy Fans Healthy Futures
Dame Kelly Holmes Trust
Street Soccer
Twinning
Esports
Year End Income		 Unrestricted
funds
2024
£
100,394
-
-
-
-
-
-
18,840
2,055
-
109,900
-
115,000
-
-
-
-
-		 Restricted
funds
2024
£
-
28,796
129,586
(15,044)
-
-
19,167
-
-
96,250
-
22,169
-
75,000
-
53,134
19,167
48,497		 Total funds
2024
£
100,394
28,796
129,586
(15,044)
-
-
19,167
18,840
2,055
96,250
109,900
22,169
115,000
75,000
-
53,134
19,167
48,497		 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
245,795 476,722 722,517 940,062
-
158,442
-
64,707
-
627,280
-
3,250
3,640
61,045
-
37,309
50,370
-
-
-
-
(113)
56,428
-
-
1,737
-
127,938		 -
-
30,736
-
6,666
-
-
-
-
-
-
-
-
5,130
-
1,390
1,000
16,028
-
10,000
-
-
-
-		 -
158,442
30,736
64,707
6,666
627,280
-
3,250
3,640
61,045
-
37,309
50,370
5,130
-
1,390
1,000
15,915
56,428
10,000
-
1,737
-
127,938		 -
148,491
38,500
92,735
-
479,176
69,320
-
3,605
21,642
20,000
-
56,085
6,445
2,200
5,000
2,600
2,071
-
-
(2,982)
6,192
5,000
51,396
1,192,033 70,950 1,262,983 1,007,476
1,538,222 547,672 2,085,894 2,034,885

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

17

5

Notes to the financial statements

Resources expended

6

Support costs
Direct
Salary Overheads
£
£
£
Youth engagement activities
637,700
1,437,716
204,014
Net income
This is stated after charging:
Depreciation of tangible fixed assets
Depreciation of finance leases
Audit of financial statements		 Support costs
Direct
Salary Overheads
£
£
£
Youth engagement activities
637,700
1,437,716
204,014
Net income
This is stated after charging:
Depreciation of tangible fixed assets
Depreciation of finance leases
Audit of financial statements		 Support costs
Direct
Salary Overheads
£
£
£
Youth engagement activities
637,700
1,437,716
204,014
Net income
This is stated after charging:
Depreciation of tangible fixed assets
Depreciation of finance leases
Audit of financial statements		 Governance
£
31,200		 Governance
£
31,200		 Total
Total
2024
2023
£
£
2,310,630
1,970,781
2024
2023
£
£
40,927
29,496
659
1,006
31,200
22,200

Net income

During the year, no trustees received any remuneration or benefit in kind (2023: £nil). During the year, no trustees received any reimbursement of expenses (2023: £nil). The Audit fee is inclusive of VAT.

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:		 2024
£
1,305,125
102,726
29,865		 2023
£
1,127,476
87,396
25,540
1,437,716 1,240,412
2024
No.
49		 2023
No.
44

One (2023: one) employee received total employee benefits within the band £60,000 to £70,000.

Key management personnel

Key management personnel within the charitable company are defined as the Chief Executive Officer and the Chief Operating Officer.

The total cost of employment in respect of the key management personnel was £134,617 (including employer NIC. and employer’s pension contributions).

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

18

8

Notes to the financial statements

Tangible fixed assets

Cost
At 1 September 2023
Additions
Disposals
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
Eliminated on disposals
At 31 August 2024
Net book amount
At 31 August 2024
At 31 August 2023		 Motor
vehicles
£
23,850
-
-		 Fixtures
& fittings
£
172,329
61,465
(5,031)		 Total
£
196,179
61,465
(5,031)
23,850 228,763 252,613
23,850
-
-		 76,763
41,586
(5,031)		 100,613
41,586
(5,031)
23,850 113,318 137,168
- 115,445 115,445
- 95,566 95,566

Tangible Fixed Assets includes one additional asset held at under finance lease with a net book value of £777 (2023: £nil). Two assets held under finance lease with a new book value of £nil (2023: £503) were disposed of during the year.

9

10

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
Creditors: amounts falling due after more than one year
Obligations under finance leases		 2024
£
35,954
2,508
374,785		 2023
£
294,876
-
200,289
413,247 495,165
2024
£
56,278
32,636
842
251,050
284		 2023
£
22,028
31,726
1,974
190,095
503
341,090 246,326
2024
£
467		 2023
£
-

Creditors: amounts falling due within one year

11 Creditors: amounts falling due after more than one year

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

19

Notes to the financial statements

12 Obligations under finance lease

Obligations under finance leases within one year
Obligations under finance leases due after more than one year
13
Statement of funds
Brought
forward
Incoming
resources
£
£
Unrestricted funds
General funds
1,131,336
1,538,222
Restricted funds
Restricted funds
238,809
547,672
Total funds
1,370,145
2,085,894		 Obligations under finance leases within one year
Obligations under finance leases due after more than one year
13
Statement of funds
Brought
forward
Incoming
resources
£
£
Unrestricted funds
General funds
1,131,336
1,538,222
Restricted funds
Restricted funds
238,809
547,672
Total funds
1,370,145
2,085,894		 Obligations under finance leases within one year
Obligations under finance leases due after more than one year
13
Statement of funds
Brought
forward
Incoming
resources
£
£
Unrestricted funds
General funds
1,131,336
1,538,222
Restricted funds
Restricted funds
238,809
547,672
Total funds
1,370,145
2,085,894		 Resources
expended
£
1,493,978
816,652		 2024
£
284
467


2023
£
503
-
751 503
Transfer *
£
(83,665)
83,665		 Carried
Forward
£
1,091,915
53,494
1,370,145 2,085,894 2,310,630 - 1,145,409

Restricted funds

The restricted income carried forward at 31 August 2024 is made up as follows:

Head Office
NCS
PL Kicks
Grassroots
PL Primary Stars
Kinder
Wembley
Fans FC
EF Isolation
Memory Lane
WT Football
Healthy Fans Health Futures
AT Football
Empower W&G
Empower LGBT+
PL Inspires
Nature Based Blades
Youth Services		 £
5,976
-
-
-
232
684
2,059
-
-
3,337
-
4,236
4,782
713
-
27
5,146
26,302
53,494

Company no 06736385 Charity no 1126620

Docusign Envelope ID: E006576C-6DF3-499F-94EF-1FD2DD9A3478

Sheffield United Community Foundation Limited Annual Report for the year ended 31 August 2024

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
2024
£
7,738
186,009
(140,253)
-		 Unrestricted
funds
2024
£
107,707
1,185,512
(200,837)
(467)		 Total funds
2024
£
115,445
1,371,521
(341,090)
(467)		 Total funds
2023
£
95,566
1,520,905
(246,326)
-
53,494 1,091,915 1,145,409 1,370,145

15 Related party transactions

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

The Sheffield United Football Club Limited: The company made sales of £92 this year (2023: £3,014). The company incurred charges of £147,783 for accounting support and hire of facilities (2023: £144,660). £4,747 of historic sales ledger balances are subject to a bad debt provision.

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 £12,000 for patronage (2023: £3,656) and £13,923 for training (2023: £nil).

Sheffield United Supporters Association: The company received donations of £100,394 (2023: £87,347). The company operates a payroll for SUSA and received £49,961 (2023: £56,922) for payroll and other costs relating to the SUSA Superdraw Lottery.

16 Capital commitments

There were no capital commitments at 31 August 2024 or 31 August 2023.

Company no 06736385 Charity no 1126620