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2023-08-31-accounts

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SWANSEA CITY AFC FOUNDATION

(A COMPANY LIMITED BY GUARANTEE)

(PREVIOUSLY SWANSEA CITY AFC COMMUNITY TRUST)

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DR A
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MHA Chartered Accountants and Statutory Auditor MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

CONTENTS OF THE FINANCIAL STATEMENTS

Reference and Administrative Details 1
Chairman’s Report 2
Report of the Trustees 3
Statement of Trustees’ Responsibilities 13
Report of the Independent Auditors 14
Statement of Financial Activities 18
Balance Sheet 19
Cash Flow Statement 20
Notes to the Financial Statements 21

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Dr E S Davies C Harris D R Jones S J McDonald A J Rhodes C Staples R L Morgans Storer – appointed 7 September 2022 L C Trundle J Wilshire – resigned 15 December 2023 J Winter – resigned 23 June 2023 Secretary D R Jones Registered (and principal) office Swansea.Com Stadium Landore Swansea SA1 2FA Registered company number 06714819 (England and Wales) Registered charity number 1126933 DR A Independent Auditors MHA Chartered Accountants and Statutory Auditor MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS Bankers Barclays Bank Plc 262 Oxford Street Swansea SA1 3BR

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

CHAIRMAN’S REPORT –

I am pleased to provide the Chair’s report for the 2022/23 year, where the Foundation has continued to broaden its work and impact across our region. We have seen our overall turnover increase to £1.14m as we have widened our fundraising and project work, finding new partners across south and Southwest Wales. The Foundation will always have a reliance on the hugely successful Premier League funded programmes, which have long formed the mainstay of our funding and delivery effort, but the focus in the last two years has been to diversify our income and provide wider opportunities for the Foundation to deliver benefits for the local community stretching beyond the main Premier League funded programmes.

One of the hallmarks of the Foundation’s work in the local community in the past year has been the incredibly popular ‘Fit Jacks’ programme – a dedicated programme of lifestyle change, weight loss and making long-term healthier choices. The programme is one of the most well-attended of its type and has found itself with full cohorts for each programme. There are numerous examples of the Foundation’s wider work such as a sleepout at the stadium where over £28,000 was raised for Matthew’s House, a local homelessness charity, a prostate cancer testing programme for 250 men sponsored by local businesses, and the vital ‘everyone deserves a Christmas’ campaign which provided 1,200 hampers and fed an additional 800 people.

The foundation continues to work with a wide range of partners, and we are pleased to see the completion of the new facilities at Cefn Hengoed which provides brand new football facilities in the local area, including an indoor pitch for all weathers. DR A

The Foundation’s Soccer Camps have remained very a very popular destination for local children during school holidays where they learn new skills and play football, meeting some of their favourite Swansea City players, as part of our wider outreach and work with the Club. During the last year, the Foundation has delivered 97 camp sessions for local children.

The social value delivered by the Foundation remains impressive with £16.4m delivered against a turnover of £1.14m, which is higher than many similar organisations with higher turnover. The Foundation finds itself in a strong position with our objective for the coming year to be a continuation of this growth and diversification of activity across the region.

………………………..

A Rhodes

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023 REGISTERED COMPANY NUMBER.. 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933 CHAIR, SWANSEA CITY AFC FOUNDATION

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE TRUSTEES

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Foundation’s objects as set out in the Memorandum of Association are for the benefit of the public generally and the inhabitants of South Wales and its surrounding areas:

The Foundation carries out these objectives by providing a wide range of activities and promoting the community ethos of Swansea City AFC in accordance with the Premier League Charitable Fund’sDR A programmes, for community cohesion, education, health and sports participation.

Significant activities

The Foundation’s core activities include after school clubs, holiday and half-term courses and summer school camps. It provides opportunities for student volunteers to gain coaching experience across the programmes that are delivered, which are summarised below.

Premier League Primary Stars

Premier League Primary Stars uses the appeal of professional football clubs to inspire children to learn, be active and develop important life skills through the power of sport. The programme aims to develop the whole child by looking to improve their physical literacy, classroom engagement and develop a healthier and more positive lifestyle. Delivering both classroom and practical physical education sessions, the project engaged with 51 schools, working on a regular basis with 32 partner schools. The project also supports teachers by working alongside them during the practical delivery to improve their confidence and competence in delivering high quality PE.

Over the course of the season, the project engaged with 2,870 participants, with over 50,000 attendances across 2,298 sessions, supporting over 50 teachers. The project achieved some notable outcomes with 76% of participants reporting to have improved their physical wellbeing. Some of the highlights of the year included delivering anti-bullying workshops to over 100 pupils at the stadium, focusing on the impact of cyber bullying and providing pupils with advice and guidance around how to stay safe online. The project also delivered several workshops to celebrate Black History Month , alongside first team defender Joel Latibeaudiere.

Premier League Inspires

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

Premier League Inspires is the Foundation’s main project for secondary school age children across the region. Our aim is to use the power of Swansea City AFC as a positive force to inspire young people to

Objectives and aims, continued

develop the personal skills and positive attitudes to succeed in life. Delivered in school and at the Swansea.com Stadium, the health and wellbeing course inspires and encourages young people to develop a healthy lifestyle and relationships that brings lifelong benefits. To maximise the impact, the project works with small cohorts of pupils who have been specifically identified by the school as having certain risk factors.

Over the course of the season, the project worked with nearly 300 pupils from 14 different schools across Swansea, Neath Port Talbot and Carmarthenshire. The project delivered a considerable impact in improving the mental wellbeing of those involved, with only 2% of pupils reporting high wellbeing at the start of the programme compared to 34% at the end. 60% of pupils also reported agreeing that they had developed their skills and knowledge throughout the programme. The project was instrumental in improving the mental health of one young participant, Sophie who, as a result of her involvement of the programme, feels she “really knows how to deal with stressful situations properly”. Highlights of the season included taking a group of young participants to Wolverhampton, alongside other CCO’s, to celebrate the Inspires challenge which focused on environment sustainability. Other highlights included Academy players Josh Carey and Cameron Llewellyn joining Foundation staff for Inspires stadium day, which included workshops on healthy relationships and mental wellbeing.

Premier League Kicks

Swansea City AFC Foundation’s Kicks initiative is a national programme that uses the power of football and sport to regularly engage children and young people of all backgrounds and abilities in football, sport and personal development, providing a trusted, positive influence in high-need areas across Wales. Theproject delivers free weekly sessions, giving young people between the ages of 8-18 across South WestDR A Wales the opportunities to play, coach and officiate in football and a range of sports. Although the immediate emphasis of the programme is football, Foundation coaches work in partnership to support the younger generation with societal challenges and improve community safety.

During the 22/23 season we engaged with nearly 3,000 participants (2,945) across all our sessions. We delivered 897 sessions across 15 different locations, including Police and Crime Commissioner funded sites in Aberystwyth, Newtown, Pembroke, Carmarthen and Seaside (Llanelli). Dyfed Powys Police and Crime Commissioner Dafydd Llywelyn joined Lee Trundle and first team player Ryan Manning to commemorate the launch of hate crime awareness week in September. In addition to the regular football sessions, participants attended a workshop around hate crime and its impact. The project delivered a range of outcomes with participants reporting to feel more confident and better at dealing with stressful situations. Several parents of young people involved in the project also provided positive feedback with 96% feeling as though the project has a positive impact in the community with 83% feeling that their child’s mental health has improved as a result of attending the sessions.

Targeted Interventions

Following on from funding provided by the Ministry of Justice via Streetgames , we delivered a 12-week mentoring intervention to young people at risk of entering the criminal justice system. The overall aim of the project was to divert young people away from the criminal justice system by reducing risk factors and increasing protective factors. To achieve this, the project used a combination of one-to-one mentoring, small group workshops and personal development activities that were tailored to the individuals’ needs and interests. Mentors worked with young people to nurture optimism, encourage pro-social behaviours and empower young people to strive for successful futures. Weekly one-to-one sessions assisted young people

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

with emotional regulation, conflict resolution and behaviour management, by teaching effective coping mechanisms to deal with day-to-day life.

Objectives and aims, continued

We created personal development plans that focused on building confidence and self-esteem, emotional and physical wellbeing, healthier lifestyle choices, goal setting and more. Throughout the year, we offered volunteering opportunities and qualifications to expand the skillset and enhance future prospects for young people. The project engaged with 52 young people with 293 mentoring sessions delivered.

Inclusion

One of the core aims of the Foundation is to promote inclusivity. We have several projects that look to offer opportunities for underrepresented groups from across Swansea and South West Wales to take part in sport.

Our girls football sessions aim to encourage young females to participate in football through fun sessions which are open to all abilities. The sessions are provided by experienced and qualified coaches in a welcoming and supportive environment in a bid to help young players discover a passion for the beautiful game, and eventually become confident enough to join local club teams. One of the highlights of the season was our free girls only camps which were also attended by Swansea City Women players Jess Williams and Chloe Bull. Williams and Bull handed out certificates and prizes for the aspiring footballers, as well as posing for photos, signing autographs and answering questions from attendees.

Disability Football sessions aim to increase sports participation for all. Overall, it covers a wide range of disabilities with the simple aim of getting more people involved in sport. Currently, people with disabilities are half as likely to take part in sport compared to non-disabled participants.DR A The programme aims to break down some of these barriers to participation and encourage more disabled people to get involved. During the season we delivered several sessions to around 24 participants. One of the highlights of the year was when our pan disability football participants won the Premier League Disability Festival tournament in Wolverhampton. The participants were given the chance to travel on the Swansea City first-team coach from the Swansea.com Stadium to Wolverhampton Wanderers' Sir Jack Hayward training centre. This was a fantastic experience for all the young people involved who all thoroughly enjoyed representing Swansea City against other CCO’s. Additionally, we delivered a celebratory event for all participants involved at the stadium with first team players Joel Piroe and Liam Walsh in attendance.

Soccer Camps

Swansea City AFC Foundation Soccer Camps take place during school half-terms and holiday periods at venues across South West Wales. Our camps provide the perfect environment for Junior Jacks to develop and hone their skills. Children attending enjoy fun technical activities, small-sided games, competitions and prizes – all delivered by our FAW qualified coaches in a safe and friendly environment. Over the season we engaged with 5,353 participants across 99 sessions. We also developed partnerships with local grassroots teams to deliver individual soccer camps for their players. As part of the agreement, the Foundation gifted more than £3,500 back to the community clubs to support their development moving forward.

Health & Wellbeing

We have a separate Health and Wellbeing division and we summarise some of their activities during the year below.

Fit Jacks

Fit Jacks is the Swans Foundation FIT FANS programme – a weight management and lifestyle change programme which we started delivering at the stadium early 2023.

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

FIT FANS is proven to work. It uses the power of the football club badge and interest in football to attract adults aged 35-65 to a 12-week healthy lifestyle multi component programme delivered by trained Foundation coaching staff. It is proven to help people achieve significant long-term improvements in weight loss, increased physical activity, diet and lifestyle choices, and psychological wellbeing. It has evidenced a

Objectives and aims, continued

direct impact on many of the greatest contributors to premature death; obesity, poor diet, high blood pressure and lack of activity.

The course provides free, weekly fitness sessions which are planned and organised by the Foundation’s coaches and are catered to those who wish to lose weight and improve their general fitness and wellbeing.

Fit Jacks is part of the EFL’s FIT FANS initiative, which has already helped thousands of football fans to achieve long-term improvements in weight loss, physical activity, diet, and general wellbeing. Participants on average lost over five per cent of their body weight and have seen lasting benefits.

By giving fans the tools, information and support to make small manageable changes to their lifestyles, Fit Jacks can make a huge difference to participant’s lives. FIT FANS is a quality assured evidence based programme, with Key Outcomes around:

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Most change happens in the 12 weeks and then it’s about maintenance sessions and referral to other programmes.

The main learnings published recently from across the EFL are about the ability the programme has to reach MALES (52% of total engagement to date), with a typical male being 51 yrs old/17.3 stone/35 BMI and 116cms waist. So, it has the opportunity, potential and ability to reach people that the Health Board/system may struggle to engage…….as part of the PREVENTION Agenda.

– Baseline results for April July 2023:

No completed: 40 participants Total waist loss: 304 cms Total weight loss: 133.5kgs

Jacks Against Hunger

At the end of each cohort for Fit Jacks (two since starting delivery in February 2023), Fit Jacks participants have collected and donated to the Swansea Community Fridge (Goleudy); an opportunity for them “to give back”.

Cwtch Coffee Mornings

The Cwtch coffee morning session is a weekly coffee social drop in taking place at the Swansea.com stadium every Tuesday. It was set up to help tackle loneliness and aspects of social isolation people may experience. It offers people an opportunity, in a safe space and one which most people in Swansea are familiar with, to socialise and enjoy a hot drink together.

There are guest speakers as well as a chance to see behind the scenes on a stadium tour, and opportunities to win match tickets and Swans merchandise.

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

The launch of the Cwtch Coffee Mornings was part of our drive to promote and support good emotional health and wellbeing of adults in our community by bringing people together, encouraging connections and social inclusion. Connections are the cornerstones of life and building these will support and enrich people's lives and the aim is to encourage and enable this.

Objectives and aims, continued

Since launching in November 2022, it has become a thriving community with a regular attendance of around 25 people, who attend every week.

Walking Football

We facilitate a number of walking football sessions in Swansea across the week. Walking football is recognised by the Football Association of Wales as an inclusive format of the game. Primarily (but not exclusively) aimed at those over 50, it offers the opportunity to maximise participation for all groups and to encourage sustained participation for players of all abilities. Our sessions are inclusive and free to access and although there is friendly competition, we are not part of any formal/competitive league. The weekly physical activity session is followed by an “extra time” coffee and chat, for people to have the opportunity to connect socially – the aim is to support people with their physical and mental health.

Walking football is stop-start, which gets the heart pumping. Research shows that walking improves cardiac risk factors such as cholesterol, blood pressure, diabetes, obesity as well as mental stress. It was originally designed to help people aged 50+ battle isolation and inactivity by boosting general wellbeing and its popularity shows that its clearly doing its job. Walking football is an excellent way of staying fit. Studies have shown it can be effective in the treatment of mild to moderate hypertension. It can produce high aerobic activity with marked improvements in fat oxidation and aerobic power. There are also substantial health benefits. It is a holistic approach to health and wellbeing.

A walking football session offers people the opportunity to meet new, like-minded people in a friendly and inclusive setting. From sharing some banter on the pitch to catching up over a coffee, it’s social from startDR A to finish. And they are in a safe and supported space, the whole time.

Outcomes:

Penlan Leisure Centre – average 14-16 attendees a session (53 sessions in last 12 months; 22 unique participants)

Pure Football – average 10-12 attendees a session (29 sessions since starting at venue in April; 24 unique participants)

Talk Club

We host this session at the stadium – a men’s mental fitness talk & listen group. It is facilitated by a volunteer captain who is trained by Talk Club, a separate mental fitness/health charity.

Warm Spaces (2022/23)

Over the winter months, there was funding in place to extend the Cwtch Coffee Morning time and space to offer the community a “warm space” at the stadium, with tea, coffee, soup and a roll available. “Warm packs” were supplied to those who attended the warm space and to participants of our other adult projects, Matthew’s House and Goleudy – Swansea charities we “work with”.

A specific fundraising initiative, The Christmas Hamper Campaign, Everyone Deserves a Christmas raised funds for hampers to donate to struggling families over the Christmas period. £84,738 of funds were raised, £49,349 was expended and unspent monies have been carried forward to Christmas 2023.

Swansea Council and COAST funding

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

The Trustees wish to acknowledge the contributions made by the above organisations. In particular a £1,290 grant for the Hampers appeal, £800 for the warm spaces activity and £4,000 for Summer Camps (including contribution for food) at Townhill and Morriston.

Public benefit

The trustees confirm that they have had regard to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims, objectives and in planning its activities.

Grant making

No grants were distributed under the Swans Aid programme to community organisations, charities and grass roots sports teams across South West Wales. (2022 - none).

Volunteers

The Foundation recognises the importance of offering volunteering opportunities. However, because of the vulnerabilities of many of our participants, the Foundation has decided, for safeguarding reasons, to restrict the number of volunteer places it offers.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Monitoring of achievement is an ongoing process connected to each project and the Foundation has systems in place to capture and safeguard the data.

The figures below outline the achievements of the Foundation for the year ended 31 August 2023:

2023 2022
Number of participants engaged DR A 11,258 8,310
Sessions delivered 4,216 4,140
Total attendance 88,096 85,229
Male/Female Split 69/31 68/32
Number of participants with disability 1,035 607
Ethnically Diverse Participants 1,024 673
Schools engaged 71
 71
Teachers engaged in our CPD programmes 50
 95

Targets are agreed with the Premier League and English Football League for each season. As we diversify our funding base, we also agree additional targets with other funders.

FINANCIAL REVIEW

Results for the period

Overall income levels increased by £163,451, building on an increase of £169,000 in 2022.

Expenditure levels also increased as a result of a greater level of activity, with staff costs involved in coaching increasing by over £138,000. Other costs showed a good level of control.

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

Cash generation

The Foundation reported a modest surplus, referred to above. There was also a decrease in debtors and increase in creditors, together with an increase in deferred income. The impact of this on the reported surplus can be seen in note 17 to the accounts. A modest investment in fixed assets, as well as other balance sheet movements, resulted in the increase in cash of £109,106.

Financial position

Cash funds held by the Foundation exceeds the total of net assets, albeit that £224,753 of cash is held in relation to restricted funds. As explained in more detail in the reserves note, the level of unrestricted funds

Financial position, continued

has been compared with the reserves policy and the trustees consider that the period end financial situation of the Foundation to be robust.

Principal funding sources

The Trust’s principal funding sources are the Premier League, the English Football League, schools in the area and a range of local partners.

Reserves

The trustees have identified the risks to the Foundation's income streams, which could lead to insolvency. They consider that to mitigate such events, a suitable Reserve Fund should be established and maintained. The trustees recognise that they have a legal, regulatory and moral obligation to establish a reserves policy, and a right under the constitution to do so.

The reserves policy is determined by an analysis of likely future needs, opportunities, contingencies or risks and the assessment of the likelihood of the charity not being able to meet the financial consequences of those events. This policy will be reviewed on an on-going basis with the involvement of staff to ensure it is tailored to the needs of the Foundation and its activities.DR A

A cash reserve is maintained by adjusting the level of income relative to expenditure as far as is reasonably possible. Management is also exercised over the levels of discretionary expenditure as appropriate. Additional income streams are sought as and when necessary.

The trustees consider it prudent to review their underlying documents and financial forecasts to recalculate the reserve figure on an annual basis, or more frequently if circumstances change significantly. The trustees are informed by management accounts, reporting recent performance and forecasting future levels of income and expenditure, and annual audited accounts.

It is recommended that:

This policy will be reviewed annually.

Total reserves at 31 August 2023 were £823,649 (2022: £765,107), this is split as follows:

 Restricted funds £221,387 (2022: £113,643)  Designated unrestricted funds £327,309 (2022: £326,810)  Unrestricted funds £274,953 (2022: £324,654)

Designated funds represent monies ring fenced for the Swans Aid grants of £82,309 and a contingency fund of £245,000. The contingency fund is held to cover unforeseen loss of grant income, redundancy

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

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costs, to guard against future operating cost increases and to cover future capital expenditure requirements for the replacement of equipment.

DR A

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

Reserves , continued

Closed Projects

Where surplus funds remain on restricted reserves on closed projects, the following steps are considered:

Step 1 - Consideration is given to transferring the fund to a similar fund.

Step 2 - Where a specific budget carry-forward has been agreed with funders and there is an additional historical surplus on that reserve, then any surplus over and above the agreed carry-forward may be transferred to the unrestricted reserve or the Swans Aid Reserve. The primary funder may also agree to a transfer of this nature for continuing projects.

Step 3 - If no similar fund can be identified from Step 1 above, then that surplus may be transferred to the unrestricted fund or the Swans Aid Reserve.

Going concern

The trustees consider that it is appropriate to prepare the accounts on a going concern basis. The business plan for the next two years is formulated in the light of ongoing grants and income generation. They have reviewed any financial uncertainties regarding the charity’s financial sustainability and consideration of going concern and the steps being taken to address these uncertainties with the continued support of the English Football League and Premier League.

Future plans

The core activities and the Foundation’s involvement with the Education and Youth Engagement projects are funded by the Premier League and the English Football League. They will also explore ways of ensuring that, despite the expansion of services, provision is made to retain the highest quality, as would be expected of any organisation associated with the Premier League and the English Football League.

Future capital projects are formulated in conjunction with the Football Foundation and other local partners.DR A

We continue to work with key stakeholders – the Welsh Government, Swansea Council, the English Football League, the Premier League, and other funders.

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Swansea City AFC Foundation was incorporated on 3 October 2008 in Wales and registered as a charity on 25 November 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

The name of the charitable company was changed from Swansea City AFC Community Trust on 11 August 2021.

Recruitment and appointment of new trustees

New trustees are appointed upon the recommendation of existing trustees. One third of the trustees must retire at each annual general meeting and offer themselves for re-election.

Induction and training of new trustees

Training is provided following appointment and is in the form of a "welcome pack" along with briefing by the Chairman and members of the Senior Management Team. Formal training is reviewed on an annual basis for all trustees.

Organisational structure

Day to day responsibility for the provision of service rests with the Head of Community as supported by a team of coaches and support staff.

Decision making

The trustees have a policy on delegated decision making which is reviewed regularly. DR A

In accordance with the Board’s role as the ultimate decision-making body within the charity, the charity has a written schedule of matters reserved to the Board, or decisions that are to be taken only by the Board and which may not be delegated to any individual, group, committee or the Senior Management Team.

The matters reserved to the Board include as a minimum;

The Board will meet to receive information on and to discuss the following:

Decisions to be referred to board:

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

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The charity has an agreed mechanism recorded in writing by which the Board (and working groups and committees) may make decisions outside of meetings. Timeframes for decisions will vary, depending on their nature.

STRUCTURE, GOVERNANCE AND MANAGEMENT, continued

Key management remuneration

Key management personnel are considered to be those personnel who are not trustees but sit within key operational and strategic roles. Key management remuneration is reviewed by trustees on an annual basis and consideration is given to local market rates for specific job roles.

Related parties

The trustees consider that there are no related parties, other than the board of trustees and key management personnel.

Risk management

Developing a strategy for managing risk is an essential part of risk control. The risk strategy correlates with the organisation’s strategic business plans and is reviewed when changes to these documents take place and where major changes in the operating environment become evident, or at the very minimum on an annual basis. As having in place good effective policies and procedures is the key to prevention, all such documents will also be reviewed and reassessed at minimum on an annual basis.

As part of the strategy a risk register will be kept which:

This risk management policy document will be reviewed annually.

Financial instruments

The Foundation’s principal financial assets are bank balances, cash and trade debtors/creditors. Credit risk is primarily attributable to trade debtors. The amounts presented in the balance sheet are net of allowances for doubtful debts. The Foundation actively monitors and manages the credit risk associated with the trade debtors.

The Foundation also actively manages its liquidity risk by maintaining sufficient cash reserves as noted in the reserves section, to ensure that the charity has sufficient available funds for its operations, and future plans.

The Foundation does not have any borrowing and is therefore not affected by interest rate rises.

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Swansea City AFC Foundation for the purposes of company law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which 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 those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 ofDR A fraud and other irregularities.

In so far as the trustees are aware:

Small company exemptions

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

AUDITORS

The auditors, MHA, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 17 May 2024 and signed on its behalf by:

SJ McDonald Trustee

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SWANSEA CITY AFC FOUNDATION

Opinion

We have audited the financial statements of Swansea City AFC Foundation (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

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 Auditors 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

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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

P a g e | 16

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

DR A

P a g e | 17

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SWANSEA CITY AFC FOUNDATION

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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 areDR A 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non –compliance with laws and regulations. We design procedure in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

P a g e | 18

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SWANSEA CITY AFC FOUNDATION

Detecting Irregularities

The objectives of our audit in relation to fraud are as follows:

However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Auditor's approach to assessing the risks of material mis-statement due to irregularities, including fraud

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (FRS 102 and Companies Act 2006) and the relevant tax compliance regulations in the UK.

We assessed the risks of material misstatement in respect of fraud and considered the extent to which non-compliance with laws and regulations might have a material effect on the financial statements.

Audit procedures designed to respond to the risks of non-compliance with laws and regulations

DR A

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. We made enquiries of management to understand how the company is complying with those frameworks.

Audit procedures performed by the engagement team also included a review of the financial statements disclosures to underlying supporting documentation.

Audit procedures designed to respond to the risks of fraud

We assessed the susceptibility of the company's financial statements to material mis-statement, including how fraud might occur by meeting with management to understand where they considered there was susceptibility to fraud.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud.

As well as adopting an attitude of professional scepticism, we have obtained information for use in identifying the risk of fraud when performing risk assessment procedures, and performed the following procedures in light of the risk of fraud:

P a g e | 19

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SWANSEA CITY AFC FOUNDATION

Management override of controls

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach. The audit engagement team performed journal entry testing using a risk-based approach and evaluating whether there was evidence of bias, with a focus on any journals indicating large or unusual transactions based on our understanding of the charity.

Considerations around likelihood of detection

However, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material mis-statements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of DR A the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

…………………………………………

For and on behalf of MHA Chartered Accountants and Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS

Date: 17 May 2024

P a g e | 20

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

Notes
Income and
endowments from
Donations and legacies
3
Charitable activities
4
Investment income
Total income
Expenditure on
Charitable activities
5
Other
5
Total expenditure
Net
(expenditure)/income
Reconciliation of funds
Transfer between funds
15
Total funds brought forward
15
Total funds carried
forward
15		 DR A
Restricted
funds
£
18,519
847,974
-
866,493
769,919
-
769,919
96,574
11,170
113,643
221,387		 Unrestricted
funds
£
90,375
183,598
2,567
276,540
294,836
19,736
314,572
(38,032)
(11,170)
651,464
602,262		 2023 Total
funds
£
108,894
1,031,572
2,567
1,143,033
1,064,755
19,736
1,084,491
58,542
-
765,107
823,649		 2022 Total
funds
£
141,235
838,330
17
979,582
936,244
16,550
952,794
26,788
-
738,318
765,107

The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

P a g e | 21

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

BALANCE SHEET

ALANCE SHEET
Notes
Tangible fixed assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors
Amounts falling due within one year
12
Net current assets
Accruals and deferred income
13
Net assets
Funds
Unrestricted funds
15
Restricted funds
15
Total funds		 2023
£
20,798
67,615
832,132
899,747
(78,763)
820,984
(18,133)
823,649
602,262
221,387
823,649		 2022
£
27,582
56,487
723,026
779,513
(41,988)
737,525
-
765,107
651,464
113,643
765,107

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring anDR A audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 May 2024 and were signed on its behalf by:

SJ McDonald Trustee

P a g e | 22

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

CASH FLOW STATEMENT

Notes
Cash flows from operating activities
17
Cash flows from investment activities
Interest received
Purchase of tangible fixed assets
Net cash provided by/(used in) investing
activities
Change in cash and cash equivalents in
the reporting period
Cash and equivalent at the beginning of the
reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
112,892
2,567
(6,353)
(3,786)
109,106
723,026
832,132		 2022
£
(31,873)
17
(9,416)
(9,399)
(41,272)
764,298
723,026

Cash and cash equivalents are represented by bank balances and cash in hand.

DR A

P a g e | 23

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

1. Statutory information

Swansea City AFC Foundation is a charitable company, limited by guarantee, incorporated in England and Wales. The company’s registered number and registered office address can be found on page 1.

2. Accounting policies

Basis of preparation of the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charitable company’s functional and presentational current is the pound sterling (£) and balances are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

DR A

Significant judgements and estimates made

The trustees make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next year are addressed below:

P a g e | 24

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

2. Accounting policies

Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Expenditure and irrecoverable VAT

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation coming the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributable to particular headings, they have been allocated to activities on a basisDR A consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Tangible fixed assets and depreciation

Tangible fixed assets are measured at cost less accumulated depreciation. Only assets costing more than £500 are capitalised. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computers and equipment etc.

25% straight line

All fixed assets are employed in the furtherance of the charity's objectives.

P a g e | 25

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

2. Accounting policies

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Gifts in kind and donated assets and services

Gifts in kind are logged in a central register and quantified as a donation for significant contributions. Donated assets and services worth more than £500 will be included wherever relevant, if the value can be reliably estimated.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Operating leases

Expenditure relating to operating leases is recognised in the Statement of Financial Activities in the period to which it relates.

DR A

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the charity to the fund, in accordance with the rules of the scheme.

3. Donations and legacies

Core funding
EFL – Core
PL - Core
EFL – Business Development
EFL – Other
Other income
Swansea City AFC – Kit
Kickstart
FAW Trust
Total		 Restricted
funds
£
-
-
-
-
12,237
6,282
-
18,519		 Unrestricted
funds
£
54,500

35,000
-
875
-
-
-
90,375		 2023
Total
£
54,500
35,000
-
875
12,237
6,282
-
108,894		 2022
Total
£
35,000

65,000
8,000
875
16,527
10,433
5,400
141,235

P a g e | 26

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

3. Donations and legacies

For the year ended 31 August 2022

Core funding
Other income
Total		 Restricted
funds
£
-
32,360
32,360		 Unrestricted
funds
£
100,000
8,875
108,875		 2022
Total
£
100,000
41,235
141,235

4. Income from charitable activities

Premier League projects
PL Kicks Universal
PL Primary Stars
PL Inspires
PL Kicks Targeted
Other charitable activities
Armed Forces Covenant Fund Trust
Fund
Police Crime Commissioner
WGRP Adults
City & County of Swansea
WGRP Children & Young People
WGRP Disability Fund
‘All Cwtched Up’
Degree Programme
Every Player Counts
EFL Fit Fans
Youth Justice Sport Fund -
Streetgames
SWP YTF Grant
Courses, Soccer Camps & after
School Clubs
EFL Kids/Girls Cup
Hampers Project
Fundraising
Other
Total
For the year ended 31 August 2022
Premier League projects
Other charitable activities
Total		 DR A
Restricted
funds
£
201,250
150,000
101,500
23,147
1,750
100,000
24,425
-
45,007
42,886
10,800
-
-
22,085
27,425
8,000
-
-
84,738
4,961
-
847,974
Restricted
funds
£
455,000
258,295
713,295		 Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
7,700
-
-
-
-
163,215
-
-
10,532
2,151
183,598
Unrestricted
funds
£
-
125,035
125,035		 2023
Total
£
201,250
150,000
101,500
23,147
1,750
100,000
24,425
-
45,007
42,886
10,800
7,700
-
22,085
27,425
8,000
163,215
-
84,738
15,493
2,151
1,031,572
2022
Total
£
455,000
383,330
838,330		 2022
Total
£
200,000
140,000
70,000
45,000
35,000
100,000
-
31,952
37,506
-
-
7,500
8,000
-
-
-
108,681
1,110
43,359
7,984
2,238
838,330

P a g e | 27

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023 REGISTERED COMPANY NUMBER.. 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933 Page 128

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

5. Analysis of expenditure
Costs directly allocated to
charitable activities
Wages and coaching
Training
Kit and equipment
Motor, travel and subsistence
Advertising
Venue hire
Vehicle hire
Competitions and events
Hampers Project
Depreciation
Total direct costs
Support costs allocated to
charitable activities
Administrative salaries
Pensions
Audit and accountancy
Insurance
Equipment hire
Telephone
Printing,
stationery
and
publications
Postage
Computer and software
Depreciation
Sundry
Bank and credit charges
Bad debts
Total support costs
Total expenditure		 Restricted
Unrestricted
2023
2022
funds
funds
Governance
Total
Total
£
£
£
£
£
475,116
217,147
-
692,263
553,833
5,891
2,776
-
8,667
9,919
43,019
(8,036)
-
34,983
38,996
35,018
3,171
-
38,189
30,108
180
466
-
646
940
38,959
24,335
-
63,294
54,190
27,192
-
-
27,192
36,606
625
894
-
1,519
2,176
49
,349
-
-
49,349
30,548
9,727
-
-
9,727
-
DR A
685,076
240,753
-
925,829
757,314
5
3,309
16,49
0
-
69,79
9
113,421
13,174
4,782
-
17,956
13,840
-
-
14,341
14,341
11,708
7,080
-
5,395
12,475
10,845
198
880
-
1,078
1,733
4,266
2,635
-
6,901
5,220
3,029
2,926
-
5,955
7,132
-
-
-
-
164
2,881
11,248
-
14,129
10,861
-
3,409
-
3,409
14,391
251
8,559
-
8,810
2,412
655
3,154
-
3,809
3,753
-
-
-
-
-
84,843
54,083
19,736
158,662
195,480
769,919
294,836
19,736
1,084,491
952,794

P a g e | 29

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

5. Analysis of expenditure

For the period ended 31 August 2022

r the period ended 31 August 2022
Costs directly allocated to charitable activities
Support costs allocated to charitable activities
Total		 Restricted
Unrestricted
2022
funds
funds
Governance
Total
£
£
£
£
692,430
64,883
-
757,314
29,832
149,099
16,550
195,480
722,262
213,982
16,550
952,794

6. Net income/(expenditure)

DR A
Net income/expenditure is stated after charging:
Auditors’ remuneration
7. Staff costs
Salaries and wages
Social security costs
Pension costs		 2023
£
8,000
2023
£
702,727
59,261
18,030		 2022
£
5,000
2022
£
611,305
53,221
16,569

The amount owed to the defined contribution pension scheme at the year-end was £3,343 (2022 – £3,497).

Number of employees who received emoluments of more than £60,000. 1 -

The highest paid employ received emoluments of £68,133 during the year.

The average number of employees were as follows:

Charitable activities
Administrative		 2023
36
3
39		 2022
36
3
39

Key management personnel are considered to be those personnel who are not trustees but sit within key operational and strategic roles. The total cost of the senior management team was as follows:

Key management personnel 2023
£
228,421		 2022
£
156,916

There were 16 (2022 - 18) volunteers. The benefit to the charity of volunteers’ time has not been quantified nor has any amount been recognised in the accounts.

P a g e | 30

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

8. Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

9. Comparatives for the statement of financial activities

Income and endowments from
Donations and legacies
Charitable activities
Investment income
Total income
Expenditure on
Charitable activities
Other
Total expenditure
Net income/(expenditure)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 DRA
Restricted
funds
£
32,360
713,295
-
745,655
722,262
-
722,262
23,393
90,250
113,643		 Unrestricted
funds
£
108,875
125,035
17
233,927
213,982
16,550
230,532
3,396
648,068
651,464		 Total
2022
£
141,235
838,330
17
979,582
936,244
16,550
952,794
26,788
738,318
765,107

10. Tangible fixed assets

Cost
At 1 September 2022
Additions
Impairment
At 31 August 2023
Depreciation
At 1 September 2022
Charge in period
Impairment
At 31 August 2023
Net book value at 31 August 2023
Net book value at 31 August 2022		 Plant &
Machinery
etc
£
83,713
6,353
-
90,066
56,132
13,137
-
69,269
20,798
27,582

P a g e | 31

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

DRA
11. Debtors
2023
£
Accrued income
24,000
Trade debtors
25,880
Other debtors and prepayments
17,735
67,615
12. Creditors: amounts falling due within one year
2023
£
Trade creditors
44,034
Accrued expenses
34,729
Tax and Social Security
-
78,763
The balances above are payable within one year and are not interest bearing.
13. Deferred Income
2023
£
Deferred Income (performance related grants)
18,133
Reconciliation of deferred income movements
2023
£
Balance brought forward
-
Released during the year
-
Deferred during the year
18,133
Balance carried forward
18,133
14. Analysis of net assets between funds
Restricted
funds
Unrestricted
funds
£
£
Tangible fixed assets
15,165
5,633
Current assets (excluding cash at bank and in
hand)
54,939
12,676
Current assets (cash at bank and in hand)
Current liabilities
224,753
(55,337)
607,379
(23,426)
Deferred income
(18,133)
-
Net assets
221,387
602,262		 2022
£
24,000
3,450
29,037
56,487
2022
£
13,452
13,326
15,210
41,988
2022
£
-
2022
£
11,500
(11,500)
-
-
Total
funds
£
20,798
67,615
832,132
(78,763)
(18,133)
823,649

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SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

14. Analysis of net assets between funds

For the year ended 31 August 2022

or the year ended 31 August 2022
Tangible fixed assets
Current assets (excluding cash at bank and in
hand)
Current assets (cash at bank and in hand)
Current liabilities
Net Assets		 Restricted
funds
£
21,656
46,962
58,801
(13,776)
113,643		 Unrestricted
funds
£
5,926
9,525
664,225
(28,212)
651,464		 Total
funds
£
27,582
56,487
723,026
(41,988)
765,107

15. Fund movements

Movements in unrestricted funds (including designated funds):

General fund
SwansAid
fund
(designated)
Contingency (designated)		 31/08/22
£
324,654
81,810
245,000
651,464		 DRA
Income
£
275,940
600
-
276,540		 Expenditure
£
(314,471)
(101)
-
(314,572)		 Transfers
£
(11,170)
-
-
(11,170)		 31/08/23
£
274,953
82,309
245,000
602,262

Movements in unrestricted funds (including designated funds) for the year ended 31 August 2022:

General fund
SwansAid fund (designated)
Contingency (designated)
ovements in restricted funds:
PL Kicks Universal
PL Kicks Targeted
PL Primary Stars
Other

Kit		 General fund
SwansAid fund (designated)
Contingency (designated)
ovements in restricted funds:
PL Kicks Universal
PL Kicks Targeted
PL Primary Stars
Other

Kit		 31/08/21
£
321,155
81,913
245,000		 Income
£
233,846
81
-		 Expenditure
£
(230,319)
(213)
-
(230,532)
Expenditure
£
(197,495)
(23,924)
(160,393)
(375,870)
(12,237)
(769,919)		 Transfers
£
(28)
28
-
-
Transfers
£
-
777
10,393
-
-
11,170		 31/08/22
£
324,654
81,810
245,000
648,068 233,927 651,464
31/08/22
£
-
-
-
89,
643
24,000
113,643		 Income
£
201,250
23,147
150,000
479,859
12,237
866,493		 31/08/23
£
3,755
-
-
193,632
24,000
221,387

Movements in restricted funds:

P a g e | 33

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

The balance of funds relating to restricted funds at the year end relates to various projects which continue past the year end and are held to complete those identified projects.

NOTES TO THE FINANCIAL STATEMENTS

15. Fund movements

Movements in restricted funds for the year ended 31 August 2022:

PL Kicks Universal
PL Kicks Targeted
PL Primary Stars
PL Inspires
Other
Kit		 31/08/21
£
5,000
2,250
5,000
3,500
50,500
24,000
90,250		 Income
£
202,022
45,000
141,110
70,000
270,996
16,527
745,655		 Expenditure
£
(192,126)
(39,862)
(178,334)
(69,865)
(225,548)
(16,527)
(722,262)		 Transfers
£
(14,896)
(7,388)
32,224
(3,635)
(6,305)
-
-		 31/08/22
£
-
-
-
-
89,643
24,000
113,643

Funds have the following purposes:

PL Kicks Universal

PL Kicks Universal and Targeted are projects funded by the Premier League Charitable Fund which useDRA the power of football and value of sports participation to help hard to reach youngsters and reduce antisocial behaviour.

PL Primary Stars

A new programme to replace School Sports, which delivers English and Maths sessions in schools with the aim of inspiring children in teamwork and sports.

PL Inspires

Premier League Inspires is a pilot programme being funded and run in partnership between Premier League Charitable Fund, The Princes Trust and 9 club community organisations. The project aims to work with young people in a schools-based programme, where they complete 2 modules of a GCSE equivalent qualification.

Other

xxx

P a g e | 34

SWANSEA CITY AFC FOUNDATION YEAR ENDED 31 AUGUST 2023

REGISTERED COMPANY NUMBER: 06714819 (England and Wales) REGISTERED CHARITY NUMBER: 1126933

NOTES TO THE FINANCIAL STATEMENTS

15. Fund movements

Designated funds have the following purposes:

Swans Aid

Funds designated by the Trust for distribution to smaller local community groups.

Contingency fund

Funds designated by the Trust as a contingency against future costs or reductions in income streams.

16. Related parties

There were no related party transactions during the year, other than remuneration paid to key management personnel, as disclosed in note 7.

17. Reconciliation of net movements to net cash flow from operating activities

DRA
Net income/(expenditure) for the
reporting period as per the SOFA
Add back depreciation charge
Deduct investment income
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
(Decrease)/Increase in deferred income		 2023
£
58,542
13,137
(2,567)
(11,128)
36,755
18,133
112,892		 2022
£
26,788
14,391
(17)
(7,679)
(62,807)
(11,500)
(31,873)

18. Operating lease commitments

At the balance sheet date, the charity had commitments under non-cancellable operating leases totalling £4,332 (2022 - £15,071).

19. Contingent assets

At the balance sheet date, the charity had been awarded grants of £nil (2022: £nil) which are subject to certain conditions which preclude income recognition.

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