Aeglitered number: Ll6625967 Charlty nurnb•r: 1126799 Wolverhampton Wond•r•rn Foundatlon Trustees, report ond flnonciol stotements For the year ended 31 May 2024 DAINS
AUDIT ADID9HVE 2011212024 COMPANIES HOUSE A13
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Wolverhompton Wond•r•rs Foundatlon (A company fimited by guorantée) Contents Poge Aefermce and adminlstratlve detall8 of the Chartty. Its TruMe•s and advlsers Trustees, report IndePerent audltors. feport on the flnonclal itot•m•nts 8- 11 Stot•m•nt of flnanclal artlvlll•s 12 Balon sh• Stoiement of cash flow8 14 Not•8 to the fknanelal QternenI• 15-32
Wolverhompton Wanderers Foundatlon company Ilmlted by guarantee) Aeferen¢• and odministrotive details of the Charity. its Trusioe5 and odvlsers For th• year ended 31 May 2024 Trust5 K Aogers, Chalr Mwild A Purssell C Tonks R Skirrow A Khon (reslgned 23 June 2023) R Welch (oppointed 23 June 2023) Company reglster•d nvrnb•r 06625967 Chorlty reglsiered number 1126799 Regl•ter•d offlc• Mollneux Slodlum Woterloo Aood Wolverhomplon WVI 4QR Company S•Cf•tury Muckle Secretory Llmlted Heod of Foundatlon Wlll Clowe5 Indndent ¢wdltor* Dolns Audit Llmlted 2 Chomberloln Squore Porodlse Clrcus 8irmlngham 83 SAX Bonkers 8orclays 8onk PLC 15 Colmore Row Birminghom 83 28H Solldtors Muckle LLP Time Cenlrol 52 Gollowoale Newcostle upon Tune NEI 48F Poge I
Wolverhampton Wanderers Foundail (A compony Ilrnited by guarantee) Trust•e¥ report For th• yeur •nd•d 51 Mau 2024 The Trustees present thelf onnuol report together wlth the audlted Iinanclol storemènts of the Chorliy for the yeor I June 2023 to 31 Moy 2024. The Annual report serves the purposes ol both o Trustees, report ond tt directors. report vnder company law. The Trustees confirm thot the Annual report ond flnoncial statements of the choritable compony comply wllh Ihe current siorulory requlremenls, Ihe requlremenls ol the choriioble compony's governln9 document ond the provlsions of the Stolement ol Recommended Proctice (SORP) opplicoble to choritie5 preparin9 thelr accounts in occofdonce wlth the Flnanclol Reportlng Siondord oppllcoble In Ihe UK and Republlc of Irelond (FRS102) (effectlve I Januory 2019). Since the Charily quolllies os small under sectlon 382 of the Companles Act 2006, the 51roieglc report requlred of medlum ond lorge componles under the Companles Act 2006 (Stroieglc Report ond Olrectors, Report) Regulotlons 2013 hos been omilted. Ov•rvlow The Wolverhompton Wonderers Foundotlon (WWF) Is the olflclol chorlty of Wolverhomplon Wonderers Foolboll Club ('Wolves'>. It collaboroles wllh o voriety of locol porlner5 who support. shape. ond co-fund the Foundalion's choritoble obSeciives. These partner5 Include The fooiboll club's owrners, Fosun, Wolverhompton's Publlc Heallh Team & Cllnlcal Commlsslonlno Group. City of Wolverhampton College. the Vnlverslly ol Wolverhamplon. ond Wesl Mldlands Pollce. WWF olso works with national organlsolions. such as Ihe Premler Leogue Chorlloble Fund. The Profes51onal Footbcsllers Assoclotlon, The EnglSsh Footboll Leoque Trust, ond The Football Associatlon. WWF extends Jis Ihonks 10 oll Wolves Ions ond regvlor contrlbulors. Includlng rhose parllclpollng In Foundollon octlvllles, volunieers, ond those moklng ptsbllc donotions. Thls ongoing supporl Is cruclol to the Foundotlon's svccess ond the effecllve Implementatlon of Its sirotegic oblecllve& Key 51rotegl¢ Portners hove helped to shape and odvance the chorlly's core objectlves, whSch dlrecllu oddress the mosi presslng needs In the city.. Heolth & Wellbelng. Cammunity Coheslon, and Edvcotion & Skills. The Trustees hcve thoroughly reviewed these objectlves and contlnue to do so ot Ihelr qvorlerly meellngs. reofflrming their relevonce ond allgnrnenl wilh ihe Foundotion's mlssion. Though legolly seporole from Wolves FC. Ihe Foundollon hos a close and supportive relotlonshlp wlth the club. Wolves FC provldes free offlce spoce. occess lo professionol services (such os Heolth & Safety. Legol. and IT support). ond hondle5 poyroll servbces. with cosis opproprloiely cross-chorged lo the Foundatlon (see note 11. 510ff costs). The relalionship between the Club and the Foundatlon is formollsed through o structured Servbce Level Agreemenr. whlch helps mltigote mony of the rlsks the choTlty foce> The Trustees re9ulorly 055ess Ihese risks os port of ihelr onoolng review process, The Trvslees convene quorterly to review oovernonce. straleglc direction KPI'S ond the Foundotion'5 prlorftles. All meetlngs ore fullu mlnuled. and stofl Irequently present updotes on speciflc oreos of the Founclotion's work Doy"to-day monogemenlls overseen by Will Clowes, Heod of Wolverhomplon Wonderers Foundotlon." Page 2
Wolvethompton W•nderer6 Foundotion (A ¢ompqnu Ilrnlted by quarantee) Trustees. report (contlnued) . For the ueor •nded 31 May 2024 Oblertlves and actlvltlej a. mlsslon To use the power ol Wolves lo motlvote. educole ond Insplre local people and CDmmunllles ocross Wolverhomptor) io chonge Ihelr Ilves lor the better. b. Our valv•• Progresslve.. Ambitlous. creotive, innovollve Determlned.. Ownershlp, declsivene$5. ¢onslstency Unlty.. Connected. fomlly, togetherness Humble: Considerate, respectful, thoughtful Bdghl.. Insplrlng. engoglng. Intelllgenl c. ObJettlve5 The key oblectlves cf the chorlty as set ovt In the consiitutlon ore.. To promote communlly parllcloallon In heolih recreotion by Pfoviding focilllles for the ploylng of ossoclotlon footboll ond other sports capoble of improving heolth: To provlde and 055151 In provlding focllllles lor sport. recreollon or other lelsure tlme occupotlon of such persons who hove the need for such focllitles by reoson of Ihelr youth, oge. Inflrmlly or dlsoblement. poverty or soclol ond economlc clrcumstonces or for the public ot large In the Interests of sociol welfore ond wlth the object of Improvlno thelr conditions of Ilfe. To odvonce the educatlon of chllclren ond yovng people through such means os Ihe irvstees thlnk flt In occordance wllh the low ol chorily. ond Any other chorltoble purpose occordlng to the law of Englond ond Woles, The TrustEes hove glven coreful conslderotlon lo the Chorlty Commlssion's guldonce on public beneflt when setllng Ils olms ond Ocilvilies. In portlcular, the trustees consider how plonned acllvlties wlll conlrlbule ro Ihe Fovndauons alms on objectlves they hove sel. Achlevements ond performance a. Revl•w of octbvltles The Fovndollon's octivities ore ali9ned wlth lis core objective& ond performonce Is monoged throu9h slructured plonnlng. doto tracklng, performance torgels, ond regLslor ossessmenls. Reports. includlng performonce agolnsi Keu Performonce Indicotors (KP15) ond Red Amber Green (RAG) rollngs, ore presented to Trvstees for review. The success of eoch projecl 15 evolualed uslng ¥arlous *r1C0t0rs. which are d15cussed with Trustees. WWF dellvers mulllple prolecrs, eoch wlth its own set of complex KPIS. developed durlng Inltiol projecr plonnlng and qvollty assuronce. Mony prolects are svpported by steering groups ihot Involve porlners ond funders lo osse55 performonce ond trock progre5S. Po9e 3
Wolverhampton Wonderers Foundalion (A company limlted by gtsarantee) Trustees, report (cofttinued) For lh• yeor •nd•d 31 May 2024 A(hvementS and p•rtormone• (contlnu•d) b. Thonki The Trvstees wovld like io express Ihelr grolltude to all those who hove contrlbuted to the Foundolion's progre$5 over the past 12 months. Includlng Wolverhomplon Wonderers Fooiboll Club. The suppori of fooiboll or90n111onS such os The Premler Leogue, The Prolesslonol Fooibollers Assocloiion, ond the EFL Trust hos been Involuoble. The Truqtee.8 olso wlsh to ocknowledge the dedicollon of cll Foundotion stall. whose hord work h05 contributed to onother successful yeor. Finondal r•vlew o. Golng concern Followlng careful review. the Trustees ore confldenl ihot the charity h05 sulliclent resour¢es io conlinue operotlng for Ihe foreseeable future. As such, they conllnue lo prepore the financlol stotemenls on o goin9 concern bosls. Further detolls ore provlded In the 5toiement of occovntlng pollcles In the financlol storernenls, b. A•Mrv•• pollcy The Trustees olm to build reserves to cover 3.6 months of operatlng costs. In Ilne with the Choritles Commisslon's recommendotlons. As of 31 Moy 2024. unrestrlcted reserve5 Qre suffitient to cover opproxlmotely 3 months of operolionol costs. The Foundoiion inlends lo conlinue growing Ih25e reserve5 In occordonce wlth Churlly Commls51on guidelines. c. R•vl•w Of flnan¢lal po41110Tr F Is lully underwrltien by Wolves FC, The olm Is Ihot the Chorily Is to be ultimately sell.sufficient. Currently. WWF vnrestrlcled reserves slond ot £1,806.600 of 9enerol fvnd5 (2023.. £1.458.416). The reslrlcted feserves slond ol £800.969 (2025.. £973.949) whlch relole5 lo externally funded projects ol work. The endowment Ivnd cons15ts ol ihe Wolves Foundallon Areno ossel. whlch followlng deprecloiion chorges hos o net book volue of £339.994 (2Q23. £574,835). Statt cosis oi £1.378.502 {2023'. £1.223.352) represents o high yoportlon ol WWF'S totol cosis. Of Ihls figure. key management personnel remunerotion represents £460,739 (2023.. £404,676). Principal sources of income Include donoiions ond grunts from The Premier Leogue Charitoble Fvnd. The Professionol Footbollers A5soclatlon. The Engllsh Football Leogue Trust. ond The Footboll Foundatlon. ond the Trustees thank these orgonlsollons for their conllnued support. Poge 4
Wolverhampton Wanderers Foundatlon (A compony 11m1t by gugrantee) Trustees, r•port {contlnu•d) For the yeor ended 31 Moy 2024 d. Alsk managemfjnt The Trustees ore responsible lor Identifging and revlewlng risks, Th15 process is corded out through- Quarterly. minuted Trustees meellngs IdeniifSca¢ion of key rlsks by Trusiees Presentotlons from Foundollon ond Wolves stolf on rlsk monagemenl processes SaleguardSng is o core prlnciple for the chorily, wlth the welfare of all porricSponis poramount. Alosioir Purssell (Heod ol Legol ot WWFC ond WWF Trusiee) oversees sole9uordlng. worklng closelu wlth the WWFC Head ol Sofe9uordlng on oll reloted matter& Any sofeouardlng Incidents are carefully docvmented. Inve51190led. ond relerred to 1he opproprlote aulhorltles. including the Pollce ond Locol Auihorlly Designoted Oltlcer. Flnonclol rlsk Is a prlorlty for the Trustee5. ond Is monoged throu9h reguloi review ol the reserves pollcu ond risk 05sessment& Idenllfled rlsks include.. Unontlcipaied operotlng costs The Impocl of a volallle economic envlronment. such as Inflotlon ChJnges In fundlng slrolegles from mojor supporters Loss of key personnel WWF follows Wolves Fc's HR ond Heolih & Solety orclocols. en5urlng Ihot rlsks are rnonoged effectlvely. The chorily is olso osse55ed by the English F¢)otball League. Premier Leaoue. ond The FA on its soleguording procllce& •. Prtnclpal fundlng WWF recelves flnonclal support from The Premler Leo9ve Chartioble Fund. Engllsh Footboll Leogve Trust. The FA. The Professionol Foolbollers Assoclalion. ond The Footboll Foundalion, The Trustees extend thelr thanks l¢y thls ongoin9 support. Structure. govèrnance und monog•m•nt a. Con8tltvtlDn Wolverhompton Wanderers Foundallon Is o compony Ilmlted by guoronlee wlthout shore copltal ond reglstered vnder the Componies Act. The compony Is governed by Ils Memorondum ond Article5 of Associotion. doted 20 June 2008. b. Melhods of appointment or eledlon of Trustees Trustees ore norninoled ond oppointed b05ed on Ihelr suilability 05 decided by cvrrenl members of the Trvstees. They ore invSted lo ollend an Inductlon iralning process lor tlie rvnnlng ond operoiion ol the Foundotion. Additlonol Irolnlng Is offered 05 required Page 5
Wolverhampton Wanderers Foundallon (A ¢ornpgny Ilmlted b¥ guoroftt••) Trustee5' report {contlnved) For ihe year ended 51 Moy 2024 struclvr•. gov•rnance and fflanagem•nt {eoniinued) c. Orgonlsotlonol strvciure ¢nd d•¢i8lon-muk+ng pollelea The following Is bosed on WWF'S govern document.. Monthly meetlngs ore planned to d15CUS5 Ihe ongolng involvement and future developmeni ol the scheme wlth the Club's senior most OPP¢inted officer., Acrivlties orronged under the Scheme wlll be co-ordinoled by o full.llme person Involved in the scheme. Port- tlme stoll moy be used os and when requSred.. No person Involved in ihe scheme wlll hove ony ossoclorion ony olher professlonal Football Club,. All stoll ore employed by thè Foundotlon ond must adhere to oll procedures set out In HR pollcles.. and All heods of ocllvlly wlll meet wlth the Heod ol Wolverhompton Wonderers Fovndoflon on o weekly bos15 10 discuss ongolng ond future octlvliy InvolvemeDI. Mlnules and oction poSnt5 rolsed ol these meetlnos wlll form the ogendo for fulure dlscvsslon / meeiing& d. Pay pollcy for k•y monoyment per•onnel Relored 501ory costs lor all WWF sloll, Inclvdlng key monogemenl personnel. ore benchmorked agolnst induslfy comporlsons and oqreed through monagement ond/or trustee meetlngs. Stat•mtnt of Trutt•••' r•spgnslbllltl•s The Truslees (who are a150 Ihe dlreciors of the Charlty for the purposes of companu low) ore re5POllsible lor preparlng the Trustees, report ond the flnoncial. stolements In occordonce with applicoble low ond Uni18d Kingdom Accountin9 Slantjords (Unlted Klngdom Generolly Accepled Accountlng Procllce). Compony low reqvlres the Trusree5 to prepore Ilnanclol siolemenls lor eoch finonciol yeor. Under company low. the Truslees must not approve the flnonciol slotements unless they are sotisfled that they glve o true ond faic vlew of the stote of offolfs of the Chorlty ond of its Incomlng resources and opplicotlon ol resources. Includlng 115 Income Jnd expendStvre. lor thot per+od. In preparing these financlol 5totements. the Trustees are requlred to,, select suifoble occovnllng pollcles ond ihen apply Ihem conslstently: observe the methods ond principles ot the Charities SORP (FRS 102)., moke ludgmenis ond occounring esllmaies thoi ore reosonoble ond prudent., stale whether opplltoble UK Accouniing Stondord5 (FRS 102) hove been followed, subject lo any material deportures disclosed ond exploined In the Ilnancial stotements, prepore the finonciol 5toiements on the goln9 concern bosis unless it Is Inopproprlole to presume thot the Charlty will conlinue In buslness. The frustees ore responsible for keeplng gdequole accounting records thot ore sufflclenl to show ond exploin the Charlty's transoctions ond disclose wlth reaSonae occvracy ot ony time the financial positlon ol the Chority ond enable them io ensvre ihot ihe flnonclal sioiernenls comply wlth the Componies Acr 200& They ore olso respon&ble for Safeguarding the ossets of the Chortty hence lor toklng reasonable step5 lor the prevention and detection of fraLKI and other Irregulorltle& Page 6
Wolvethampton Wandefers Foundotion (A company Ilmlted by guorantee) Trustees, report (contlnued) For the year ended 51 May 2024 Olsclosure of Infomi•tlon to ovdltars Eoch of the persons who are Trsjstees gl the tlme when thls Trvstees, report Is opproved has confirmed thot.. so for os thot Trustee Is owore. there Is no relevont oudil informaiion of which the thority's oudiiors are unowafe. ond Ihot Trustee has token oll the Steps Ihot ought lo have been taken as o Trustee In order to be awore ol ony relevont oudlE Infoimotion ond io estoblSsh thoi ihe charl1$ uudltors ore owore of thoi informolio Audltori The audbtors. Doins Audit Umited, hove Indicoted their wllllngness to continue In offlce. The designated Trustees wlll propose o motlon reoppolntlng the oudltors at o meellng of the Trusiees. Approved by order of the members of the board of Trusiees on 12 December 2024 ond slgned on thelr behalf by.. Roger$ Trustee Poge 7
Wolverhampton Wonderers Foundaiion IA compon¥ Ilmltod by quarnntee) Ind¢pendent auditors, report to the Members of Wolverh&npton Wander¢fS Foundatlon Opinlon We hove audited ihe flnanclol slotemenis of Wolverhomplon Wandeiers FounLlollon (the 'chorltoble cornpony,) for the yeor ended 31 May 2024 which comprise ihe Statement of Iinoncial octivities. the Bolonce sheet. the Siaiement of cosh flows ond the reloted notes, Including o svmmory of slgnificonl occounlino policie& The financlol reporllng fromework thoi hos been opplled In ihelr preporotlon Is oppllcoble law ond United Klngdom Accounlin9 Standords, Includlng Financiol Reporting Standorcl 102 'The Financial Reportlng Stondord opplitable in the UK ond Republic ol Ireland, (Uniied Klngdom Generolly Accepted Accounting Pracllce). In our oplnion the flnanclol statements. glve o true ond falr view of the stole of the chorlloble ccmpony's offolrs os at 31 Moy 2024 ond of115 Incomlng resources ond oppllcotion of rescvrces. includlng its income ond expenditure for the year then ended., hove been properly prepared In occordonce wlth Unlted Klngdom Generolly Accepted Accounllng Procllce.. and hove been prepored in occordonce wlth the fequlremenls ol the Chorllles Act 201L 8osis for oplnlon We conducted our ovdil in accordance wllh Inlernotlonol Stortdords on Auditing (UK) {ISAs (UK)) ond opplicoble low. Our respon51bllilles under those stondords ore further descrlbed In the Auditors, responsibllltles for the audlt of the finoncial stotemenls sectlon of our report. We ore independent of ihe choritgble compony in occordonce wllh the ethicol requlremenls ihal ore relevant to our audlt of the flnanclal srotements In the Unlted Klngdom. Including the Flnonclal Reporiing Council's Erhlcol Siondord, ond we hove fullsiied our other eihlcal responsibllllies In occordonce with these requlrements. We belleve thot the audil evSdence we hove obtained Is sulflclent ond opproprlole lo prowde o basls lor our oplnlon. Con¢lusloni r•latlng to golng conc•rn In ovdlling ihe flnonciol stotemenis, we have concluded thor the Trustees, use of the going concern b0515 01 occounllng In the preparolion ol the finonclol slolemenls Is oppropriate, 8osed on the work we hcve performed, we hove noi Ideniifled ony molerial uncertointles reloring to events or condifions ihot. individually or collectlvely. moy cost significont dovbi on the chorlloble compony'5 obility to contlnue 05 a going concern far o perl¢)d ol ot leost twelve months Irom when thè flnonciol slotemen15 aro outhorI5ed for IS5ve. Ovr responslbllllles ond the responsibilitles of ihe Trvstees with respeci io golng concern ore de5Cbed in the relevont sec1S of this report. Poge 8
Wolverhampton Wanderers Foundotlon (A mpaNY Ilrnbied by guarontee> IndePendt ouditorf r•part to the M•mb•r8 of Wolv•rhomptM Wanderers Foundatlon (continued) Other inforniation The other Informafion comprlses the inforrnatlon inclvded in the Annuol report other thon the financlol statements and our Auditors, report thereon. The Trusiees ore responsible for the other informotlon contained wllhin the Annual report. Our oplnlon on ihe flnanJol statements does not cover the other Informollon ond. excepl 10 the extent olherwlse expllciily stoled In our report. we do not express ony form of ossuronce concluslon thereon. Our responslbilitu is to reod the other informotion ond. In dolng so, consider whelher the other Informolion 15 moterlolly inconslslenl wlth rhe flnonclol 5totements or ovr knowledge obtolned In the course of the oudll. Of Otherwlse oppeors to be moierlolly misstoted. If we Sdentify such material incon515tencies or opporent materiol misstotements. we ore reqvlred io determine whether this glve5 rise to o material rnlsslolemenl In ihe Ilnonciol statements themselves. 11, bosed on the Work we hove performed. we conclude thoi there Is a molerial mlsslotemenl of thls olher infcrmotlon, we ore reqvlred to report thal fact, We hove r)othlng to report In thls regard. Motters on whlch we ore reqvlred io report bu exception We hove nothlng io repori In respect of ihe following matters where the Chorltles (Accounts ond Peport5) Aegulolions 2008 requires us to report to you il. In our opinion., Ihe inlormoiion glven In the Truslees. repori Is Incons6slent In any moterlol respect with the lknonciol stotemenls.. or sufflclenl occounllng records hove not been kept., or the finonciol statemenrs ore not in ogreement with the occounling records and returns.. or we have not received oll the Inlormotlon ond explonollons we requlre for our oudll. Aesponslbllltles of ifustees A5 exploined more tully In rhe Trustees. responsibllities sioternent, the Trvstees (who ore also ihe dbreclors of the charltoble compony for the purposes cf compony law) are responslble for ihe preparatlon ol the linonclol stotemen15 ond for belng satlsfled rhol they give o Irve ond tolr vlew. ond for such Inrernol control os the Trustees delermlne Is necessory to enoble ihe preparation of finonclol stolements thol ore free from r(lerIo1 misstatement, whether due to froud or error. In preporlng ihe finonclol stotements. the Trustees ore responslble for ossesslno the chorltable compony's obiiity to coniinue 05 0 9olng concern. dlsclosln9. 05 oppllcoble. motters reloied lo golng concern ond using the going concern b05is of occounllng unless the Trustees either intend to Ilqvldote the chorltoble company or lo ce05e operotlon& or hove no reollstlc alternollve but tc do 50, Poge 9
Wolverhompion Wanderers Foundati¢ (A company Ilmlted by guofontee) Independent audltor$' report to the Member$ of Wolverhampton Wanderers Foundatlon (contlnued) Audbtors, fesponslblllties for ihe audit of the finoncial slatemen We hove been oppolnied 05 auditor under section 145 ol the Chorllles Act 2011 ond report in accordonce wlth the Act ond relevont re9ulotions mode or having effect thereunder. Our oblecrives ore to obtoln reosonoble ossuronce oboul whether the Iinonciol stalemenls os o whole are free from materfjol misstotemenl. wheiher due lo frovd or error. ond ro issue on Audltor5' report ihot Includes our oolnlon. Reosonoble assurance is a high level ol ossuronce. but Is not o guoronlee thot on oudlt conducted In accordonce with ISAS (UK) will olwoys delect o molerlol mi5sfatement when it exlsts. MIs5tatcment5 con ¢rlse from froud or error and ore considered moterlol If. Individuolly or In ihe ogoregole. they could reasonobly be expected to Influence the economlc decisions of users taken cn the basis of these 1Snonclal stotements Irregulorltle5. Includlng Iroud. ore Instances ol non-compllance wllh law5 ond regulollons. We deslgn procedures In Ilne wlth our respon51bllllles. ovtllned above. to detect moterlol mls51olements in respect of Irregulorltle5, Including fraud. The extent 10 whlch our procedures ore copoble of delectlng Irreguloritles, Includlng ffoud Is detalled below.. Ovr opprooch to Idenrlfylng und a55es51ng the risk5 Of moterial mi$5tolement In respect of irregulorltles. including fraud ond non-compllonte with ltsws ond regulotions. wos os lollows.. the senlor stclutory oudltor ensured thol the engaoemenl tearn collectlvely hod ihe oppropriote compeience. copobllltles and skllls to Identify or recognlse non-complbonce wllh oppllcoble laws and regulollons.. we Idenllfled Ihe lows and re9uIoiions oppllcoble lo the compony through dlscusslons wlth dlfeciors and other m¢Jnogemenl. ond from our commerclol knowledge and experience of the chorily sector,. we focused on specllic lows ond regulotlons whlch we consldered moy have a dlrect molerlal effect on rhe finonclol slolemenls or the operoiions of the compony. Including rhe finonclol reporting legi51otion. Componies Aei 2006, tOXUllon leglslotlon. anti-brlberu. employment, ond environmenlol ond heollh ond solety leglslotlon,. we ossessed the exlenl of compllonce with the lows ond regulollcsns identifled obove through moking enqulrles cf monoaement ond Inspecting le901 eorrespondence.. ond Identlfled lows ond regulotions were communScoted wiihln the oudit team regulorly ond the teom remained olert to In5tonce5 of non-compllonce throughout ihe avdll. We ossessed the suscepllblllty ol the company s flnonciol stolemenis io materlol mlsstotemenl. Inclvdlng oblolnlng an understondin9 of how fraud mlghi occur. by.. moking enquirles of monogemeni os lo where they considered ihere wos susceptlbility to fraud. their knowledge ol octual, suspected and alleoed froud,. ond onsidering the internal controls in place to miligote rlsks ol fraud and non-compliance wlth Iow5 and re9ulatlon& To oddress the rlsk of froud through mona9ement blos ond override of controls, we.. performed onolytlcol Pfocedures to Identity onu unusuol or unexpected relofionshlps., teste(J lournol entries to Idcnrify unv5val tronsodions.. Qssessed whether ludgemenls ond ossvmptlons rnode In deterrnlnlng the occounllng esllmoi2s were Indlcotfve of polentlol bias.. and invesligoted the rollonole behlnd slgnlflcont or unusuol IronsoctloTr& Poge 10
Wolverharnpton Wanderers F[ndatIon (A cornpany limiied by guorantee) Independent auditors, r•pon to th¢ M•mb•rs of Wolv•rhompton Wanderer• Fovndotlon (contlnued) Audltors. rwpon¥lblllil•s for ih• audh of th• flnartclal 4htat•m•nts (contlnuèd) In response lo the rlsk of Irregularltles ond non-compllonce wlth Iow5 ond reguloiions, w• designed procedvres which included. bul were not limited to.. ogreeing finonci(Jl st(Jlement disclosures tti underlying supporting documeniotion.. reoding Ihe mlnutes ol meetlngs ol those charged wlth governonce, enqulring of monogement as to actuol ond potential Illi9Otlon ond cloims.. ond revlewing correspondence wllh HMAC. relevoni regulotors and ihe compony's IEgol odvisors Becouse of the inherent limltalions ol an oudlt, there Is o rlsk that we will not detect oll Irregulorllles. inclvdlng those leodlng to o moterlol mSs.statement In ihe Ilnonclal 5totements or non-compliance wllh reguloiion. Thls rlsk Increoses the rnore ihot compllance wllh a low or reguloiion Is removed from the events ond ifonsactlons reflecied In the Iinonclol stolements. os we wlll be less likely to become oware of Instances of non"compllan¢e. The rlsk is olso greoter regordlng Irregulorltle5 occurrlng due lo Irovd rolher ih¢n error. os fraud Involves inlenllonol conceolmenl, forgery, collvslon. omlsslon or misrepresentotlon. A further descrlptlon of our re5ppnslbiiiiie5 for Ihe oudlt of the Ilnonclol slotemenls Is located on the Flnonclal Reportln9 Councll's websiie ot. udi This descrlpllon lorms part ol ovr Audllors, repori. Vse of our r•port Thls reporr Is mode 501ely 10 the charttoble componu's rnembers, os o body. In occordonce wlth Port 4 of the Chorllies <Accounls ond Fleporls) Reguloiions 2008. Our oudlt work has been underiaken so ihat we might sioie to ihe chtsAtable componu's members those molter5 we ore required 10 Stole to them In on Avdilor5' report and for no Qlher purpose. To the lullest extent permllled by low. we do not occepl or ossume responsibillty io onyone other thon the chodtoble ¢ompony ond Its members. os o body. for our ovdll work. for Ihls report, or for the oplnlons we hove formed. Mork Gurneu FCCA Isenlor slatutory audllor) for and on beholf of Dalni Audll Llmlt•d Stolutory Audltor Chortered Accountonts Blrmlnghom 12 December 2024 Poge 11
Wolverhompton Wonderers Foundatlon (A ¢ompony Ilnlted by guaront•e) Sttxement of financlal Qdivilies {ineorporating income ond expenditure otcount) For the year •nded 31 Moy ?024 Unrestrlcted funds 2024 Aestrlcted funds 2024 Endowment f und$ 2024 Toial funds Toial fvnd5 2023 2024 P4ot• Incom¢ ond endowment$ from: Donollons ond legacle5 Charltoble actlvrtle5 89,323 732.5 09.525 159.112 1.¢MI226 1.795.007 1.850,843 Other tradlng octlvltles 215.012 215.012 191.540 Total Income ond endowments 1.030.916 1.063.226 2.100.142 2,201,495 Expendlture on: Ra151ng funds Charltoble actlvmes 245.596 245.396 187.289 445,336 1.256.207 34.041 1.714.384 1.615.814 Total •xp•ndltur• 608.752 1.236.207 34.841 1.959.710 1.801.103 Net mov•rn•nt in funds 348.184 72.981) (34.84D 140.362 400,392 Reconclllotlon of fvnd$'., Total funds brought forward 1.458.416 348.184 975.949 374,835 <54.84D 2,007.200 140.562 2,406.808 Net movement In funds (172.981) 400.392 Total funds carrled forward 1.106,600 •IJO.968 559,994 2.947.561 2,807,200 The rleS on poges 15 10 32 form port of Ihese finonclol sioiement& Poge 12
Wolverhompton Wonderers Foundation (A company limited by guarofttee) Aegistered numb•r'. 06625967 8alonce sh•et As ot 31 Mgy 2024 2024 2023 Not• Fixed assets Tongible assets Currènt ass•i$ 13 339,994 374,835 Debtors 14 275.903 5SS,319 Cosh ol bonk and In hond 5.248.654 2.909.522 3.564.557 3.244.841 Crediiors.. omovnls folllng due within one year 15 (956.909) 1812.476) Net current ass•ti 2.007.568 2.432,365 Totol o$8•t$ l•s$ curr•nt Iloblllths 2.947.562 2.807.200 Total net ossets 2.947.562 2.807.200 Charlty funds Endowment funds 16 339.994 374.855 Restrlcted funds 16 800.968 1.006.600 973.949 Unrestrlcted fvnds 16 1.4S8.416 Total funds 2.947.562 2,807,200 The Trustees ocknowledge thelr responslbllllles lor complying wlth Ihe requlremenls ol Ihe Act wllh respecl to occountlng record5 ond preporotion ol finonciol stotemenls. The finonciol 51alements hove been prepgred In occordance wlth ihe prov155ons applicable lo entltles subject to the smoll companies regime. The finonclol stotemenls were approved ond ouihorlsed lor issue by the Trvstees on 12 December 2024 ond signed on thelr beholf by.. K Aagers Tru51ee The notes on poges 15 to 32 form pori of these fknonciol slalements Page 13
Wolverhomplon WandererG Foundatlon (A compony Ilmlted by guarontee) Statem•nt of cash ftows For the y•ar ended 31 May 2024 2024 2023 Cash tlows from operating actlvltles Net cosh used In operatlng OCTlvllies 579.132 518.597 Chang• In cash and cash equlvalents in the uear Y79.132 518.597 'Cash and cosh eqvlvolents at the beglnnlng of Ihe yeor 2.909.522 2J90.925 Cash and cath equlvalents at ihe end ol the y•or 5.288.654 2.909.522 The noles on pages 15 tts 32 form part of these finonclal statements Page )4
Wofverhompton Wonderers Foundation (A compony Ilmlted by guorantee) Notes to th• flnanclul s¢aternents For the y¢or ènded 31 Moy 2024 Gen•ral Informotl•n Wolverhompton Wonderers Foundotlon Is o charlty registered In England and Woles wlth the Charity Commission ond incorporated os o privote company limlted by guarantee is England ond Woles. The registered horlty ond compony numbers, olong with the reglstered office oddress. ore glven on poge l. The prlnclpol ocllvltles ol the charity are set out in the Trustees, Report beNnIng on page 2, Aceountlng pollcles 2.1 80s1$ ol preporatlon tsf flnanclal $tot*m•nt$ The finonciol slolements hove been prepored In occordonce wllh Ihe Chorllies SORP <FRS 102) - Accountln9 ond Reporllng by Chorltles., Slolement ol Aecornmended Practlce appllcoble lo charllles preparlng ihelr occounls In occordonce wllh the Flnonclal Reporting Stondord opplicoble In the UK ond Republic ot Irelond (FRS 102) (eflectlve l Jonuory 2019). the Flnonc5al Reporllng Stondord appllcoble In the UK ond Republlc of Irelan(I IFR5 102) ond the Companles Act 2006. Wolverhompton Wonderers Fovndolion meets the definltlon of o public benefSt entliy under FRS 102. Assets and Ilobllllles ore Inltlally recognlsed 0% hlstorlcol cost or Ironsocllon value unless olherw15e 5toled In the relevont occountlng pollcy. 2.2 Golng concern The Chorlly's acllvltles. logether wllh the lociors Ilkely to ollecr Its fulure developmenl, perforanCe ond P051tlon ore set ovt In the Trustees, Report. The Trusiees, Report further descrlbes the finonciol posltlon ol the Chorlty.. 115 Iiquldlty posltlon. the Charlty's objecllve5. policles and processes for monoglng rts capital,, Its finonclul rlsk monogemenl objectives.. its exposure to credll risk and Ilquldlty r15k. The Trustees hove prepared coshllow lorecosts and prolectlons, tokln9 accovnt of reasonobly p05slble chonges In Irodlng perlormonce. thal show that Ihe Chorlly should be able to operole withln Ihe level ol Ils current facility. The Trustees have o reasonoble e¥pectollon thot the Chorlly hos adequoie resoucces 10 contlnue in operotlonol exlstence for a perlod ol ol least twelve months Irom the dole of approval ol ihese finonclol stotement& Thus rhey hove concluded thot It Is reasonoble lo contSnue to prepore the finonclol stotemenls on o golng concern bosls. Poge 15
Wolverhampton Wanderers Foundotlon (A company limited by gvarantee) Notes ta the flnonelol stat•ments For the year ended 51 May 2024 Actounting poh'ci05 (¢ontlnued) 2.3 Income All Income Is recognlsed once the Chorlly hos entitlerneni lo the Income. It is proboble ihal the Income wlll be receive(J ond the omouni of income receivoble con be meosvred reliobly. The recognitlon of income from legocies Is dependent on estobllshing enltIernent. the probablllty ol recelpl ond the ablllly to estimole wirh sulfScieni occuracy ihe amount recelvoble, Evldence of enlltlement lo a legocy exlsls when the Chority hos svfflclent evldence that a gift hos been left to them (through knowledge ol the ex15tence of o volld will ond ihe deolh of ihe benefactor) and the executor 15 50t15fied thot rhe property In quesllon will not be required lo sotisly claims In the estate. Recelpt of o legacy must be recognlsed when It Is probable Ihal It wlll be recelved ond the folr volue of ihe omount recelvtsble. whlch wlll 9enerolly be the expected cash omovnt to be dlstribuled to the Chorlly. con be reliably measured. Gronls ore Inc1Led In the Stolemenl of flnonclol activStles on o recelvoble bosi& rhe bolonce of irtcome received for speciflc purposes but not expended during the perlod Is shown in the relevani fund5 on rhe 8olance sheet. Where Income 15 recelved In odvonce ol entltlemenr ol recelpl, Its reco9nlllon Is delerred ond Included In credltors as deferred Income. Where enllllemenl cccurred belore Income Is recelved. Ihe ncome Is occrued. Gifts In kind donoted for distribvtlon ore Included or valuoiion ond recognlsed 05 Income when Ihey ore dlstribvted to rhe projects. Glfts donated for resole are Included as Income when they are sold. Where the donoied good Is o fixed ossel.11 Is meosvred 0¢ foir volve. unless It Ss Improciicol lo meosure ihls reliobly, in which cose the cosi ol the iiem lo the donor should be used. The goln is recognised os income from donatlons ond o correspondlng omovnl is Inclvded In Ihe oppropriole flxèd osset closs ond deprecloied over the useful economlc life In occordonce wilh the Chority's Q¢COLtniing policles. On recelpt, dono¢ed professlonol servlces ond focllltles cre recognlsed on the bosis ot the value of the gift lo the Chorlty whlch Is rhe amount It would have been wlling lo poy lo obtoln services or facilities of equlvolent economlc benefit on the open morket. o corresponding omount 15 then recognlsed In expendlture In the period of reteipt. Income tox recoverable in relatlon to donotions recelved under Glfi Aid or deeds of covenonr is recogni5ed oi ihe Ilme of donollon. oiher incorne Is recognised In the perlod In whlch Is It recelvoble and lo the extent Ihe goods hove been provided or on complellon of the service. Poge 16
Wolverhampton Wonderers Fgundalion (A company Ilmited bu guoranteè) Nates to the flnaftclal staleinerits For the Year ended J1 May 2024 Accounting policies (continued) 2.4 Expendlture Expendllure Is recognlsed once there Is o legol or conslrucllve obligollon io Iran51er economlc benefll lo o Ihird porty. It Is proboble that o tronsfer of etoMIC beneflts will be reqvired In settlement cnd the omount of the obligotlcn con be rneasvred reliably. Expenditure 55 clossilled by octivlty. The costs of each aciivlty ore mode up of the total of direct costs and shored costs. Includ5no support costs Involved In undenoking eoch ocllvlty. Direci cost5 ollrlbvtoble to o slngle Qciivily ale ollocofed dlrectly lo thol uctivlly, Shared costs whlch conlrlbule to more thon one octlvSty ond svpport cost5 whlch ore not ottributoble to a single oclivlly ore opportloned between those octlvlties on o bosls con51stenl wlth the use ol re50vrces. Centrol stofl cos15 are ollocoted on ihe bo*'s of time spent. ond depreciatlon charges allocated on tt)e ponicn ol the ossei'5 Use. Expendlture on ralslng funds Includes all expenditvre Incurred by the Charlty to rolse funds for Its charllable pvrposes ond Includes costs of oll fundralsln9 ocl5vltle5 events ond non"charltoble Irodln9. Expendlivre on chorit)ble ocllvllle5 15 Incurred on dlrectly underioking the octlvltles whlch further the Chority's objecllves. os well as ony ossocloted suppori costs. All expendlture Is Inclusive of Irrecoverable VAT. 2.5 Toxotlon The Chorlly Is consldered lo poss the tes15 Set out In Parogroph I Schedule 6 of ihe Flnonce Act 2010 ond therefore It meets the delinltlon ol o chorltoble compony lor VK corperotion tox purpose& Accordingly. the Chorlty 15 Potenliolly exempl from loxallon In respecl of Income or copllal goins recelved within calegorles covered by Chopler 3 Port 11 of the Corporotlon Tox Act 2010 or Section 256 01 the Toxotlon of Chocgeable Golns Act 1992. to the extent that such income or golns are applled excluslvely lo chorltable purposes. 2.6 Tanqlble flxed ass•t$ ond depreclotlon Tonglble fixed a55els are coplto115ed ond recognised when future economic benef115 are proboble and rhe cost or valve of the ossei con be meosvred reliobly. Tongible lixed g55els ore initiolly reco9nlsed ot cost. After recognllion, under the cost model. tgngible fixed ossets are meosvred ot cost less accumuloied depreclotion and ony occumuloted ImJ>oirment losses. All costs incvrred io bring o tangible Ilxed 05sel into its intended worklng condltlon should be Included in the meosvrement of cost. Oepreciation 15 chorged so os lo ollocote the cost of longible tlxed ossels le55 their residual volue over their esb'moted useful Ilves. uslng ihe 5trgl9hi-Ilne method. Depreclotlon Is provlded on Ihe lollowlng boses.. Leosehol(J lond ond buildlngs Areno refurblshmenl over the life of the leose 10 yeors Poge 17
Wolverhampton Wonderers Found(rtlon (A company limlted by guaronte•) Notes to the IlnaTrclal stolement5 For th• ue•r ended 31 May 2024 Accountlng pollcles (contlnued) 2.7 O•btorJ Trode and other debrors ore recogn15ed ot the settlement omount offer ony trade dlscount offered. Prepoyment5 ore volued oi the omounl prepoid nei of any trode dlscounts dve. 2.8 Caih ot bonk ond In hond Cosh ol bank and In hond includes cosh ond short.term hlghlu liquid Investmenls with o short moiurity of three months or less from the dole of gcquisltlon or opening ol the deposll or slmllgr account. 2.9 Llab)Iltl•$ ond provlslon$ Llobilliles ore recognlsed when theie Is on obllgotlon at the Bolonce sheet dote os o re5vII cf o p05t evenl. it Is probable Ihot o tronsler of economlc benefit will be requiied in settlement, ond the amount of rhe settlement con be estlmoied rellobly. Llabllirie5 ore r¢cognlsed of the omounl thot the Charlty onficlpores It wlll poy to seltle the debt Or Ihe amount li hos received os advonced poymenis for rhe goods or services St must provlde, 2.10 Flnandol Instrum•nt• The Chorliy only hos flnonclol assets ond finonclol Ilobillties of o klnd thot quollfy os ba51c flnonclol Instrumen1& 8tssic flnanciol Instruments ore Inltlolly reeo9nlsed 01 Ironsociion value ond subsequenrly meosured ol iheir selllemenl volue with the excepllon of bonk loans which ore svbsequently meosvred at omorllsed cosl uslno the eflectlve Interest meihod. 2.11 Penslons The Chorlty operoles a defined conirlbullon penslon scheme and the penslon chorge represents th¢ omovnts poyoble by Ihe Chorlly to the fvnd In respect of the yeor. 2.12 Fund accountlng Generol fvnd5 are unrestrlcted tunds whlch ore OVQllable for vse 01 ihe dlscretion of the Tru51ees In Ivrtheronce of the general objecllves of the Chorlty ond whSch hove not been deslgnoled for other purposes Designoted funds comprlse unrestrlcled funds thot hove been Sel oslde by the Trvstees for particular purpose& The aim and use of eoch de51gnoted Ivnd Is set ovt In the note5 to the Ilnoncial stotements. Restrlcted funds ore funds whlch ure to be used In accordonce with specsfic restdcltjns Imposed by donors or whlch hove been raised by the Chorlly for porticvlor purposes. The cos15 of rolslng ond odmlnlsterlng svch funds ore charged ogolnsi Ihe speciflc fund. The alm and vse of eoch restrlcled fund 15 sel ovl In the notes lo ihe flnonclol stotemenls. Endowment funds represent o gift ol endowment ond there is no power lo convert the eapiial glfted into Income. The permonent endowmeni fund wlll be held indeflnifely subleu io on annvol depreciallon chorge. Poge 18
Wolverhampton Wgnderers Foundotlon <A company Imited by guorontee) Note$ to the financlol statern•nts For the year ended 31 May 2024 Crltlcal accountlng estlmates ond oreas of Ivdgmeni Estimotes ond ludgments ore contlnuolly evoluoted ond are based on hi5Torlcol experience ond othei foctors. Inclvdlng expectations of future events thal ore believed to be re050noble under the cirrurnslance& Crltlcol occounllng esrimotes ond ossumptions.. The Chorlty mokes esllmotes and ossumpllons concernlng the fulvre. The resullino accounting esllmotes and assumptlons wlll. by dellnltion. seldom equal the related aclvol results The estlmoles and ossvmplbons thol hove o sloniflcant risk of touslng o molerlal odjuslmenl to the corrying omounts of ossets and liobllllles wlthln the next flnonciol ueor ore dlscussed below. Crlllcal oreos cf judgment.. O•preclatlon The TSlee$ hove revlewed the useful Ilves of tlxed ossels and assocloled resldvol volues and conclvdcd Ihot they ore opproprlote to the octlvlt*s of ihe Chomly. Income frorn donotlons ond le9ocies Unr•strlct•d fundj 2024 Total fund8 2024 Total funds 2025 Donotions 89.325 09.523 159,112 Incom• from charltobl• octlvltl•i Unrestrlcl•d fund$ 2024 Aestricted funds 2024 Tolal funds 2024 Foundotion Actlvltles 264.345 204.345 Heolih ond Wellbelng Inclusion ond Cohesion 333.531 335.531 348.304 548.304 Edvcolion ond 5ki115 468.236 381.391 849.627 732.581 1.063.226 1.795.807 Poge 19
Wolverhampton Wondtrers Fotsndation (A company limited by guaruntee) Notes to the finonclal stot¢mtnt$ Fof the year ended 31 May 2024 Incom• from charltable actlvlti•s (conllnuèd) 'Unrestrlcled funds 2023 Restrlcted funds 2023 Toial funds 2023 Foundatlon Actlvllles 254,500 234.500 Heolth ond Wellbelng In¢lu&on ond Coheslon 495.840 495.840 550,903 550.903 Feed Our Pack 309.600 260.000 569.600 544,100 1,306.743 1.850.843 In the prlor yeor. the Trustees hove revlsed the actlvlty regortlng such thol Feed Our Pack Is now incorporcted Into Heolth ond Wellbelng and Edvcarlon and Skllls. hovlno prevlously been Included In Foundation Aciivlties.1s now reporled os Its own octlvlly. Incorn¢ from other tradlng actlvltlas lficom• from funthalslng event6 Unr••trtcted fund$ 2024 Total funds 2024 Tolol funds 2023 Fvndrolslng trodino octivlties Shop soles ond rentol Income 166.868 16é.861 142.207 48.144 41.144 49333 215.012 115.012 191.540 Page 20
Wolverhampton Wand¢rer$ Foundoilon (A company Ilmited by guarantee) Notes to the flnoftcial st•t•m•nts For the year ended 51 May 2024 Exp•ndlture on rql¥Snq funds Fundraislng trading èynses Unr•Itrl•d fund$ 2024 Total fvnds 2024 Totol fund5 2023 Wage5 and salorles Operollng 501es costs 240,643 240.643 170,216 4,753 4,753 17,073 245.596 245.396 187.289 Analy5 of •xp•ndltvr• on tharltabl• gctlvltl•* Summqry by fund typ• Unrestricted funds 2024 Ae$trlct•d End07•nt fvn lunds 2024 2024 Total funds 2024 Foundoiion ActlvStle5 249.913 34,841 284.754 Heollh ond Wellbeing Inclusion ond Cohesion 477.598 477.598 424,851 424.851 Edvcolion and Skills 193.423 355.758 527.181 443,336 1,236,207 34,841 1.714.304 Poge 21
Wolverhamptoft Wandèrers Foufidation (A compony Ilrnlted by guarante•) Notes to the fknoncial statements Far th• y•ar •nd•d 31 May 2024 Analysls of èxpenditure On charftable actlvltles {continved) Summary bu fuftd type Ccontlnued) Unrestrlcted funds 2023 Flesirlcted funds 2023 Endowmeni fvnds 2023 Totol funds 2023 Foundoiion ActlvStles 259,676 35.096 294,772 Heolth and WellbeSng Incluslon ond Coheslon 425.223 423.223 459,371 459.371 EducotSon ond Sk1115 168,328 268,120 436.448 428.004 1,150.714 35,096 1,613.814 Analy$li of •xp•ndlture by octlvltl•% A111?8 undertoke dlrectlu 2024 Support costs 2024 Total nds 2024 Foundoiion Actlvltles 98.984 185,770 112,942 284.754 477.59 Heollh ond WellbelrvJ Inclusion and Coheslon 364.656 373.495 51.356 424,851 527.181 Education and Skllls 450.835 76.346 1.287.970 426,414 1.714.384 Poge 22
Wolverhampton Wanderers Foundation (A company Ilmlted by guorantee) Notes to the finandal Stotements For rh• year •nded 31 Moy 2024 Analysls of ewpendlture by actlvitie$ (continued) Activities ndertaken direcrly Support cosis 2025 2023 Tolol funds 2023 Foundation ActivltiEs 106.346 188,426 294.772 Heolih ond Wellbelng Incluslon ond Coheslon 298.335 124.888 423.225 390.492 68,889 459.371 Educolion and Sk1115 354,271 82.177 436.448 1.149..434 464.380 1.613,814 kn¢lyg19 of suppgrt costs Fovndallon Affllv5tles 2024 H•glth and InthJ81on gnd Wellbeing Cohèsion 2024 2024 Edycatlgn and Ski115 2024 Total fund$ 2024 Governonce 1.102 1.395 1.455 3,548 51.631 7.500 Service cosis 114.104 104,411 45,026 515,172 IOJ.742 Flnance ond odmlnistrotlon 70.564 7,136 4.87S 21,767 185.770 112.942 51.356 76.346 426.414 Foundollon Actlvllies 2023 Health and Inclvslon ond Wellbelng Coheslon 2023 2025 Educotlon ond Skills 2023 Tolol tunds 2023 Governonce 894 1.856 2.063 2.063 6,876 Servlce costs 117.699 113.595 60.955 69.337 361,586 Flncnce ond odministrollon 69.853 9,437 5,871 10.777 95.918 188.426 124.88B 68.889 82,177 464.380 Poge 23
Wolv•rhamptan Wand•r*r$ FoUndln (A company Ilrnlted by guorantee) Notes to the financlal statements For th• yeor •nd•d )1 Mgy 2024 10. Net Income / (•xp•ndltur•) 2024 2023 Oepreclotion of ionglble flxed assers Avditorfs remunerotion - oudlt fee 34.041 35.096 7.500 6,875 11. Staff costs 2024 2023 Wages ond so10eS Soclol securlty costs Contribullon to defined contdbution penslon schemes 1.242.617 1,104,692 104.850 92.041 31.029 26,599 1.378.502 1,223,532 The overage ntsrnber of person5 employed by ihe Choritu durlng the ueor wos us follow5.. 2024 2025 No. Foundotion Acfivities 12 15 Heolth and Wellbeing Inclusion ond Cohesion 17 15 13 13 Educallon ond Skiiis 32 74 79 The number of employees whose employee benellts (excludlng emplcyer penslon cosls) exceeded £60.000 wa5.. 2024 No. 2023 No. In the bond £BO,001- E90.000 In the bond £90.001 £100.000 The key rnanogement personnel ol the Chorllu ore the Prlnclpol Offlcer& The lotol remunerollon pald lo the key monagement personnel In the yeor, inclvding pension £ontrlbutlons and social securtty costs. totolled £460.739 (2023 - £404.616). Poge 24
Wolverhampton Wonderers Foundatio (A compony Ilmlted bu guarantee) Notes to the fin4nclol Statements For tho yeor ended 51 Mou 2024 12. Trusteès, remuneration and expensès During the yeor. no Trustees received ony rernuneraticn or other benelits (2023 - £NIL). Ourlng the ueor ended 31 Mtsy 2024. no Trustee expense5 hove been incurred (2023 - £NILI Tanglbl• Ilx•d 4ss¢ts Leas•hold land x•no and bulldlngs refvrblshrnenl Totol Cosi or valuotlon At 1 June 2023 733.646 275.676 1.009.322 Al 31 Moy 2024 753.646 275.676 1.009.522 Depr•clatlon At l June 2023 S19.70S 114.782 6J4.4•7 Chorge for the year 7.2n 27.568 34.841 Al 31 Moy 2024 526.978 142.350 669.32 N•t book valu• Al 31 Moy 2024 206.068 133.526 339.994 At 31 Moy 2023 213.941 160.894 374.835 The total net book value of flxed ossets, representing the refurblshment of the WWF Aldersley Areno. hos been pledged 05 securlty under the ierms of Ihe £164.914 copital gronr received from The Footboll Foundoiion In conjuncllon wlth the refurblshment. Poge 25
Wolverhampton Wond•rers Found•tion (A cofflpanu Ilmited by guarantee) Not•$ to th• flnanclol statem•nt$ For the yèor ended 31 Moy 2024 14. Debtors 2024 2023 Due within one year Trade debtors 211.226 220.361 Prepoyments ond occrued Income 64.077 114.958 275.905 335,379 IS. Creditor&' Amouftts folllng due wlthln one year 2024 2023 Trode creditors 41.493 52,400 WWFC credltor 8S6.423 632.084 Other toxotlon and soclol securlty Other credltors 5,585 9.950 10,406 Accru015 ond deferred Income 43.558 117,586 956,989 812,476 2Q24 2023 Deferred Income at 1 June 2023 20.420 26.448 Resources deferred durlng ihe yeor Amounts rclcosed from prevlous perlods 20.420 (20.420) 26.448 20,420 Po9e 26
Wolverhampton Wanderers Foundation (A company Imlted bu guarantee) Noto$ to the flnondal stot•m•nts For the yoar endod 31 May 2024 16. Statement of funds Statement of fund5- eurrent yr Balance 1 June 2023 Transfers 8olonce ot 31 In/oul May 2024 Incoffl• Exp•ndttur• Unr•strlcted lundi Doilgnated funds SustoinabllSty slnk fund 121.562 23.604 145.166 G•nerol funds Generol Funds 1.336.854 1.056.916 (608.732) (23.604) 1.661.434 Total Unr•itrl¢t•d funds 1.458.416 1.056,916 (6BB,7)2> l.K16.600 Endowment funds Propertles 374.835 (J4.841) 339.994 Re$irlrted funds Health ond Wellbing Incluslon and Cohe51on 68S.710 333.531 548.504 (47?.598) (424.851) (553.758) 541.713 227.337 60.832 150.790 Educo#on cnd sk1115 581.391 10a.465 975.949 1.063.226 (1,236.20n 800,900 Total of fundi 2.807.200 2.100.142 0.959.no) 2,947.562 Poge 27
Walverhamptan Wanderers Fowdotion (A compony Ilmlt•d bu gvorantee) Notes to the flnandal stotements For the y•ar •nd•d 31 May 2024 16. Staternent of funds (contlnued) es nate The su510inabillty sink fund represents amounts set oside from generol funds for the relurblshment of Aldersley Stodlvm expecred to toke ploce In 10-15 yeors. Ae5trlcted funds represeni eerno1$Y funded prolecis thcl the Chorliy Is deliverlng In the flelds of Heolih, Inclusion and Educatlon olongslde Its core sporllng octlvllle& Foundotlon Arena refurbishmenr represents gront fundlng recelved toward5 the copllol renovolion of the Foundatlon Arena. Following complerlon of the refurbishment. the fund has been Ironsferred inio endowment funds os on enhoncemenl to Ihe orlginal glft. In the prlof yeor. the Trusrees rev15ed the octlvlty reporllng such that Feed Our Pack Is now Incorporoted Into Heolth & Wellbelng ond Educotion & Skllls. hovlng prevSovslu been Included in Foundotlon Aciivilie5, is now reported os Irs own octlvlty. wm The endowment lund Is solely represented by ihe net book volue of the refurblshed WWF Aldersley Areno Foclllty. This foclllty wos gllted ie the Foundoiion by Wolverhompton WondErers Footboll Club in 2012. The focllllu ond therefore movement wilhin ihe fund is due io the onnucl depreciatlon chorge. Poge 28
Wolv•rhamplon Wanderers Foundthion (A ¢ompony Ilmlted by guorantee) Notes to the flnanclal Motements For the y•ar ended 31 Moy 2024 Statem•nt of fund$ (comlnved) Stotement of funds - prlor year Bolonce at l June 2022 Tronsfers 8olonce ol n/oul 31 Moy 2023 Income Expenditure Unr•strlct•d funds Designated funds Sustolnobiliiu slnk fvnd 97,958 25.604 121,562 Generol funds Generol Funds 1.080,999 894,752 (615,293) (23.604) 1.336.854 Total Unrestrlcted funds 1.178,957 894.752 <615,293) 1,45B.416 Endgwment funds Propeilles 409,931 (35,096) 374.835 Aestrlcted funds Health und Wellbeing Incluslon ond Coheslon 284,797 495.840 (423,260) (459.372) 328.403 685.780 204.720 550.903 (68.914) (328.403) 68,914 227.337 Feed Our Pack 328,403 Educatlon ond skills 260,000 (268.082) 60,B32 817,920 1.506.745 (1,150.714) 973,949 Totol of fund5 2.406.808 2.201.495 0.801.103) 2.807.200 Page 29
Wolverhompton Wonderer$ Foundaiion (A componu Ilmlted guarantee) Not•s to thp financlal statements For Ihe year ended 31 May 2024 17. Summary of fundi Summary of funds . curr•nt year Balafice ot 1 Jun• 2025 TfaTr5fers aalance at 51 In/out Mau 2024 Incom• Expendltur• Designoted funds Generol funds 121.562 23.604 145.166 1.536.854 1.036.916 (600.752) (23.604) 1.661.454 En¢Jowmeni funds 374.855 4.841) 0,236,207) 339,994 800,96 Restricted funds 973.H9 7.063.226 2.107.200 2.100.142 (1.959.780) 2,947.562 Summary ol lund• - prlor year 8olonce oi 1 Jvne 2022 Tronsfers In/out ealonce oi 31 May 2023 Income Expenditure Designoted funds General funds 97.958 23.604 121.562 1.080.999 894.752 1615.293) (35,096) <1,150.714) (25.604) 1.536.854 Endowment funds 409.931 374.835 Restricted funds 817,920 1.306.745 973.949 2.406.808 2,201.495 (1.801,103) 2.807.200 18. Analysls of net assels ts•twe¢n funds Analusi$ of net assels belwe•n fund5- current perlod Unrestrlcted funds 2024 Restdcted End¢)wment fundi funds 2024 2024 Total funds 2024 Tonglble flxed ossets Current ossets 339.994 339.994 2,763.589 800.96B 3.564.557 1956.989) Credilor5 due wlthln one yeor (956.989) Total 1.806.6()0 800,968 339.994 2.947.S62 Page 30
Wolverhampton Wanderers Fowd4tlon (A company Ilmlted by guarantee) Noles lo the finonclal statements Fgr the y•or end•d 31 May 2024 18. Analysis of net assets b•tween funds (continued) Analy$ts of n•t asseis b•tw••n funds - prior p•riod Unrestrlded funds 2023 Restricled Endowment funds funds 2023 2023 Tolol fvnds 2023 Tonglble Ilxed assels Current assets 374.835 374,835 2.270,892 973.949 3,244,841 Credltors dve within one yeor (812.476) (812.476) Total 1.458,416 973.949 374,835 2.807.200 19. AKonclllotlon of n•t movem•nt In fundi to n•t ca•h flow fram op•ratlng actlvltl•A 2024 2025 Net Income for the perlod las per Slotement cf FSnonclol Acllvilie5) 140.562 400.392 Adlu$tm•nts for., Depreclotlon charges Decrease/(Increose) in debtors Increose In credltor5 34.041 59.416 35.096 {151,271) 234.380 IH.513 N•t cosh provld•d op•rotln9 O¢tl¥ltl•J 379.152 518.597 20. Anglysi$ of cosh ond cash equlvalents 2024 2023 Cosh ot bonk ond in hond 5.288.654 2.909.522 Totol cash and cash equbvalents 3.288.654 2,909.522 Poge 31
Wolv•rhampton Wanderern Foundotlon (A company Ilmited by guorantee) Notes to the finonciol statements For the yeor •nded 31 Moy 2024 21. Analysis of chonges In net debt At l Jun• 2023 Al 31 Moy 2024 Cash flows Cosh at bank und in hond 2.909.522 579.152 3.288.654 2.909.S22 579.132 3.288.654 22. P•rnlon eommltrn•nt• The Chorllu operoles a delined conirlbutlon penslon scheme. The ossets of the scheme ore held sepeialely Irom Ih05e of the Charity in cn Independently odmlnistered fund. The pension cost charge iepresents conlribullons payoble by ihe Charily lo the fund ond omounled to £31.029 In the year. There were no outstonding poyments ot the bolance sheei dole (2025 - £NII), 23. Memb•rs' Ilablllty Each member ol the charlloble company undertakes to contribute to the ossets of the company in the event of It belng wound up whlle he/she Is o member, or withln one year ofter he/she ceases to be o member. such omount as moy be requlred, not exceedlng £10 for ihe debts and Ilobllllles conlrocled before he/she ceoses to be a member.. 24. Related party transacllon$ The Chorlty Is reloted 10 Wolverhompton Wonderers Fooiball Club 0986) Llmlted by vlrlue of some Trustee5 01 the Chority beirng key managernent personnel ot the Fooiball Club. During the year. Wolverhomplon Wonderers Footboll Club (1986) Limlled rechorged costs of £128,778 (2023 - £103.939) to the Charlty. At the bolonce sheet dote. the Charily owed on omount of £856,423 (2023 - £632,084) to WolverhomplDn WondereT5 Fooiboll (1986) Llmlled. Poge 32