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2023-08-31-accounts

REGISTERED COMPANY NUMBER: 06799376 (England and Wales) REGISTERED CHARITY NUMBER: 1128443

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CARDIFF CITY FC COMMUNITY FOUNDATION

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

CARDIFF CITY FC COMMUNITY FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Page
Report of the Trustees 1to 7
Report of the Independent Auditors 8to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15to 28
Detailed Statement of Financial Activities 29

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

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

About Cardif Cit FC Communit Foundation

Cardiff City FC Community Foundation is the official charity of Cardiff City FC.

Mission

Our mission is to use the inspiration of Cardiff City FC to change lives and transform communities.

Vision

Our vision is for people in our communities to achieve their full potential.

Goals

Improving health and wellbeing Supporting learning and skills Building stronger communities

Objectives

To increase our reach within our communities To deepen our impact within our communities

To build a resilient and sustainable organisation

Pillars

Our pillars are the key functional areas of the charity that underpin the achievement of our goals and objectives:

Services - we will respond to the needs of our communities in a way that only we can.

People - we will build an empowered skilled, diverse and passionate workforce reflective of our communities. Safeguarding - we will offer positive experiences and create inclusive welcoming environments.

Marketing & Communication - we will build our reputation as the leading sport for social development organisation in Wales. Finance - we will establish a diverse portfolio of income, maximized to achieve social impact.

Governance & Assurance - we will develop a well governed organisation where the framework of strategy, risk management and controls are aligned to our purpose.

Values

Passion - we are passionate about inspiring others. Respect - we show respect and compassion.

Inclusion - we promote inclusion, celebrate diversity and challenge discrimination. Collaboration - we work together to make change.

Innovation - we imagine the possible and strive for continuous improvement.

Our Programmes I Services

Our core programmes and services are:

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

Objectives for the Public Benefit

The Foundation's objectives are for the benefit of the public generally and, in particular, the inhabitants of Cardiff and its surrounding areas:

Background

At the heart of our mission is the belief that football clubs can inspire hope, passion, and a sense of belonging. From the establishment of Riverside FC in 1899 to the opening of Ninian Park in 1910, Cardiff City FC's beating heart has always been the communities that support the Bluebirds. Working together, Cardiff City FC, the Cardiff City FC Community Foundation and our communities can achieve great things.

During the year, our communities were affected by a series of external events, including the ongoing impact of a global pandemic, an energy crisis, and the cost-of-living crisis. These realities have added up to what can be termed as a 'polycrisis' - multiple, simultaneous crises that are strongly interdependent. Like many other charities we have had to respond to changing demand for services against a challenging external environment.

The charity continued to provide services which contributed to our three long-term goals: improving health and wellbeing, supporting learning and skills, and building stronger communities. From primary education to community outreach, youth­ focussed programmes to initiatives supporting higher education, our hat-trick of goals served as our compass, guiding us towards making a lasting and meaningful impact.

Service engagement reached a 5-year high with total annual attendances exceeding 120,000. Service developments included refreshing and expanding the reach of our Secondary Education and Training programme to meet changing demand and the introduction of a new weight management service, FIT Bluebirds.

During the year there were changes to the composition of the Board of Trustees. Two Trustees stood down at the end of their respective terms. Following a thorough recruitment process, four new appointments were made to the Board in July 2023. Each trustee brings fresh perspectives, skills and diverse experiences to enrich the board.

The trustees recognise that the charity operates within a complex world and understand the importance of responding to the external environment to maximise social impact. As such, following extensive consultation with stakeholders, the Trustees reviewed the charity's purpose, examined the external environment and our internal capabilities before setting a new five­ year strategy for the period 2023-28. This new strategy builds upon the solid foundations laid during the previous strategic period and sets out our vision for the future.

KeYA!hievements and Performance

Service Engagement

During the year 11,544 participants regularly engaged with our services (21/22 = 8,904). Total attendances were 120,129 (21/22 = 109,473).

2

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

Service Delivery

We provided a total of 8,395 sessions (21/22 = 11,229) at 128 school and community venues (21 /22 = 149).

77% of our sessions took place in the 50% most deprived areas within our communities with 60% of the sessions taking place in the 30% most deprived areas.

49% of our sessions took place in the City of Cardiff, 22% of sessions were located in RCT, 16% in the Vale of Glamorgan and 8% in Caerphilly. The remaining of sessions took place in the counties of, Bridgend, Merthyr and Blaenau Gwent.

Impact

Outcome 1 - Improving Health & Wellbeing

Widespread health inequalities exist in our communities. There are unacceptable variances in healthy life expectancy between the most and least disadvantaged communities, high obesity rates and growing mental health issues. Statistics shed light on these challenges: the Welsh Health Survey reports obesity rates of 29% in Wales, surpassing the UK average of 28%. Additionally, the Mental Health Foundation's data reveals that nearly 1 in 4 people in Wales experience mental health issues annually. These statistics underscore the pressing need for initiatives, like ours at Cardiff City Community Foundation, aimed at enhancing health and wellbeing to address these prevalent issues.

Our focus on promoting health and wellbeing within the community led to notable improvements in both physical and mental wellbeing. Through various programs and initiatives, we provided access to physical activity and promoted healthy lifestyles for targeted groups and disadvantaged communities resulting in enhanced overall health and wellbeing.

79% of service users reported improvements in their physical health. 92% of service users reported improvements in the mental and emotional wellbeing.

88% of service users reported an improved understanding of the benefits of an active lifestyle.

Outcome 2 - Supporting Learning & Skills

Educational disparities persist in some communities in South Wales, presenting barriers to accessing quality education and training opportunities. The Children's Commissioner for Wales highlighted disparities in living conditions, indicating that "children in certain areas are over twice as likely to live in poverty, impacting their access to quality education." This is further exacerbated by high unemployment rates, as reported by the Office for National Statistics, signalling significant challenges in employment and skill development within the region. These statistics emphasize the urgency of programs focused on supporting learning and skill development to address these disparities.

We continued to support children and young people to learn and develop important life skills. Furthermore, our initiatives effectively raised aspirations, enhanced attitudes to learning, developed of transferable skills and readiness for progression into further education and training or the workplace:

60% of service users reported improvements in their attitude to learning.

62% of service users reported increases in exploring personal progressions such as further education and training. 70% of service users reported increases in transferable skills such as problem solving and teamwork.

Outcome 3 - Building Stronger Communities

Communities in South Wales often grapple with social isolation and a lack of community cohesion, influenced by economic challenges and demographic changes. Data from Age Cymru reveals that around 75,000 older people in Wales feel lonely, contributing to social isolation within communities. Moreover, the Joseph Rowntree Foundation highlights higher rates of poverty in Wales compared to other parts of the UK, impacting community dynamics and connections. These statistics underscore the necessity of initiatives aimed at building stronger communities, like ours at Cardiff City Community Foundation, to promote connections and address social isolation within the region.

Through our endeavours to build stronger communities, individuals within the community felt more connected and established better relationships with others. This outcome emphasizes our success in creating a sense of belonging and community cohesion among our service users.

86% of service users reported an increased sense of belonging in their community. 83% of service users reported improvements in relationships with their peers.

3

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

96% of service users reported more positive interactions with people from other backgrounds and cultures, highlighting the Community Foundation's role in promoting inclusivity and interaction among diverse groups.

Service Development and Future plans

Our plans for service development include:

Risks and Uncertainties

Risk management statement

The trustees have examined the major strategic business and operational risks which the Foundation faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen their risks.

The trustees are aware of the strict safeguarding policies and procedures when working with children and adults at risk and are involved in these policies and procedures. The trustees are also aware of the importance of compliance with said regulations relating to Health and Safety, Data Protection and Fundraising by staff and volunteers.

The trustees acknowledge the cost-of-living crises affecting the United Kingdom and recognise that effect on our activities will need close monitoring.

Financial Review and Financial Position

Total incoming resources amounted to £1,743,827 (2021/22 = £1,729,996) with £1,231,987 (2021/22 - £1,226,526) comprising restricted income. The balance of £511,840 (2021/22 - £503,470) representing unrestricted income comprised of £276,298 (2021/22 - £278,251) project and core funding and £235,542 (2021/22 - £225,219) general donations.

Total resources expended amounted to £1,787,543 (2021/22 - £1,722,496) with £1,589,653 (2021/22 - £1,489,764) of this being directly on charitable activities, £194,023 (2021/22 - £209,206) to support the delivery of services and £3,867 (2021/22 - £23,526) on fundraising costs.

The net movement in funds was a deficit of £43,716 (2021 /22 surplus - £7,500). The balance sheet at 31 August 2023 shows total reserves carried forward of £1,091,008 (2022 - £1,134,724).

Principal Funding Sources

The principal funding providers were the Premier League Charitable Fund (34%), Cardiff and Vale College (14%), Cardiff City FC (12%) and the English Football League Trust (7%).

Reserves Polici

The trustees review the charity's reserves policy annually in regard to the changing financial, regulatory and competitive environment. In considering the level of free reserves the charity should hold, several factors are considered including but not limited to, current and anticipated levels of income and expenditure, liquidity and non-monetary assets, risks, opportunities and contingencies.

The overall aim is to use funds carefully to further our charitable objectives whilst maintaining a prudent level of free reserves. Free reserves are defined as unrestricted funds, excluding any committed designated funds, that are not invested in functional fixed assets.

The trustees consider that given the nature of the charity's work, the charity should hold free reserves equivalent to between three to six months total expenditure. The trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources due to timing differences in income flows, adequate working capital to cover core costs, and will allow the charity to cope and respond to unforeseen events whilst action plans are implemented.

4

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

The total level of unrestricted reserve funds at year end was £1,055,670. This in line with the above policy.

The Trustees have considered both the level of reserves and the reserves policy in the context of the financial risks that the charity faces and future plans and will ensure that the level of reserves and reserves policy are regularly monitored.

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.

Cardiff City FC Community Foundation is a charitable company limited by guarantee, incorporated on January 22, 2009 and registered as a charity on March 6, 2009. The company was established under a Memorandum of Association which established the objectives and powers of the 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.

Recruitment of Trustees

The charity trustees for the purpose of charity law are also the directors for the purpose of company law.

Under the Articles of Association, the board of trustees shall not be less than seven and not more than 12 and shall consist of up to three trustees appointed by Cardiff City FC and four or more charity trustees appointed by the trustees. Trustees are appointed for a term of three years and may serve a maximum of three consecutive terms.

In selecting individuals for appointment as trustees, the trustees give regard to the skills, knowledge and experience needed for the effective governance of the Foundation. Trustees with specialist skills are appointed to relevant sub-committees.

The trustees' who served during the year and up to the date of this report, are set out on page 6.

Trustee Induction and Training

Trustees receive an induction and accompanying Trustee Good Governance Handbook on their appointment to the board of trustees. The induction includes a welcome to trustees and staff and an overview of the structure, finance, governance and administration of the Foundation. All trustees are DBS checked and receive formal safeguarding training. Trustees are also invited to visit projects and meet service users.

Trustees also receive regular updates regarding changes in legislation and regulatory guidance as well as ongoing training, which includes safeguarding refresher training.

The trustees consider the skills, knowledge and experience needed for the effective governance of the Foundation. Workshops are convened to improve skills and knowledge as required.

Decision making

The trustees are responsible for setting the strategic direction of the Foundation and approving the business plan and annual budget.

The board of trustees typically meets four times per year. Sub Committees with delegated responsibility oversee certain aspects of trustee's work and include; Safeguarding Sub Committee, Finance Audit & Risk Sub Committee and Remuneration Sub Committee.

The Foundation has a policy which sets out the powers delegated to the Foundation Director. The Foundation Director is responsible for the execution of the Business Plan and the day-to-day management of the Foundation. The Foundation Director is supported by a Senior Leadership Team. The Senior Leadership Team are considered to be the key management personnel of the Foundation.

5

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Remuneration of KMP

The Foundation is committed to ensuring a proper balance between offering fair pay to attract and retain personnel and careful management of the charity's funds. This approach ensures the greatest effectiveness in delivering our charitable objectives.

The organisation adopts a maximum ratio of 4:1 between the highest salary and median salary. The remuneration of key management personnel is summarised in Note 9.

Key Partnerships

The Foundation's success is built upon a long-standing relationship with Cardiff City FC. Our strategic partnerships include the Premier League and Premier League Charitable Fund, the English Football League Trust and Cardiff & Vale College.

Our partnerships with statutory bodies including Local Authorities, schools and community organisations, fan groups such as Cardiff City Supporters Club and Cardiff City Supporters Trust help us achieve and amplify our impact

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06799376 (England and Wales)

Registered Charity number 1128443

Registered office House Of Sport 3 Clos Pare Morgannwg Cardiff United Kingdom CF11 8AW

Trustees

Trustees who served during the year Trustees who served during the year
Name Board Role
Leighton Andrews Chair of Trustees
Steve Barley Vice Chair of Trustees
Kayley Griffiths Treasurer (Resigned 17 /05/23)
VK Choo
Hywel Dafydd
Katie Dalton
Chris Hatcher Treasurer (from 17/05/23)
Shikala Mansfield
Kerys Sheppard
Melanie Harmer (Resigned 29/09/23)
Catrin Stark (Appointed 06/07 /23)
James Bibby (Appointed 06/07/23, resigned 13/01/24)
Andrew Diplock (Appointed 06/07/23)
Ali Abdi (Appointed 26/07 /23)
Foundation Director
Gavin Hawkey
Key Management Personnel
Name Role
Gavin Hawkey Foundation Director
Natasha Applasamy Head of Governance and Assurance (Resigned 31/08/23)
Fiona Lott Head of Education & Training
Zac Lyndon-Jones Head of Community Development
Samir Mebarki Head of Finance & Resources
Carwyn Williams Head of Income Generation & External Affairs

6

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Bank

Barclays Bank pie St Davids Cardiff 28 Working Street Cardiff CF10 2DP

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Cardiff City FC Community Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re[-] appointment at the forthcoming Annual General Meeting.

Re12ort of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on .7.�b ... r.f\�.::l(GJ.,tand signed on the board's behalf by:

7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF CITY FC COMMUNITY FOUNDATION

Opinion

We have audited the financial statements of Cardiff City Fe Community 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).

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

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.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF CITY FC COMMUNITY FOUNDATION

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 are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; Management override of controls; and

obtaining an understanding of the legal and regulatory frameworks that the charity operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the

9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARDIFF CITY FC COMMUNITY FOUNDATION

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations; enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities f[o] r 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 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Jones (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: ...14 May 2024........ .

10

CARDIFF CITY FC COMMUNITY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Charitable activities
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
Charitable activities
5
Support costs
6
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forard
As previously reported
Prior year adjustment
11
As restated
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
235,542
276,298
511,840
3,867
283,053
194,023
480,943
30,897
96,416
127,313
872,282
56,075
928,357
1,Q55,670		 Restricted
funds
£
1,231,987
1,231,987
1,306,600
1,306,600
(74,613)
{96,416)
(171,029)
71,519
_84§
206,367
35,338		 2023
Total
funds
a
£
235,542
1,508,285
1,743,827
3,867
1,589,653
194,023
1,787,543
(43,716)
(43,716)
943,801
190,923
1,134,724
1,091,008		 2022
Total
funds
s restated
£
225,219
1,504,777
1,729,996
23,526
1,489,764
209,206
1,722,496
7,500
7,500
905,317
__n-901_
1,127,224
1,134,724

These notes form part of the financial statements

11

CARDIFF CITY FC COMMUNITY FOUNDATION

BALANCE SHEET 31 AUGUST 2023

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
92,373
68,364
1,003,255
1,071,619
(125,274)
946,345
1,038,718
1,038,718		 Restricted
funds
£
89,153
89,153
(36,863)
52,290
52,290
52,290		 2023
Total
funds
a
£
92,373
68,364
1,092,408
1,160,772
(162,137)
998,635
1,091,008

1,091,008
1,055,670
35,338
1,091,Q08		 2022
Total
funds
s restated
£
110,318
42,165
1,176,809
1,218,974
(194,568)
1,024,406
1,134,724
-
1,134,724
928,357
206,367
1,134,724

The financial statements were approved by the Board of Trustees and authorised for issue onl .. tl:'! .. m�.41.�. and were signed on its behalf by: J

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These notes form part of the financial statements

12

CARDIFF CITY FC COMMUNITY FOUNDATION

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023
Cash flows from operating activities
Cash generated from operations
Notes
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period
2023
£
(46,881)
(46,881)
(18,167)
(18,167)
(19,353)
(19,353)
(84,401)
1,176,809
1,092,408
 as 2022
restated
£
126,272
126,272
(95,710)
(95,710)

These notes form part of the financial statements

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE CASH FLOW ST A TEMENT FOR THE YEAR ENDED 31 AUGUST 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES


ACTIVITIES
2023 2022
as restated
£ £
Net (expenditure)/income for the reporting period (as per the Statement
of Financial Activities) (43,716) 7,500
Adjustments for:
Depreciation charges 36,112 28,954
(lncrease)/decrease in debtors
(Decrease)/increase in creditors		 (26,199)
(13,078)		 42,784
_034
Net cash (used in)/provided by operations (46,881) 126,272
ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.22 Cash flow At 31.8.23
£ £ £
Net cash
Cash at bank and in hand 1,176,809 (84,401) 1,092,408
1,176,809 (84,401) 1,092,408
Debt
Debts falling due within 1 year (19,353) _353
(19,353) _353
Total 1,157,456 (65,048) 1,092,408

2. ANALYSIS OF CHANGES IN NET FUNDS

These notes form part of the financial statements

14

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES

Basis of preparing 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 presentational currency is the Sterling (£) with rounding to the nearest pound. The company is incorporated in the United Kingdom and registered in Wales.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

There have been no material departures from Financial Reporting Standard 102.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on the historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

The preparation of the financial statements requires management to make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, be likely to differ from the related actual results.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations income includes donations and gifts that provide core funding or are of a general nature and are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Other trading activities are recognised as the related services are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the delivery of the service or event to which it relates.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

It is not the policy of the charity to show income net of expenditure.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities, both costs directly attributable and indirect support costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

15

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES - continued

Tangible fixed assets Plant and machinery - 25% reducing balance Motor Vehicles - 25% reducing balance Improvements to property - 20% straight line Computer equipment - 25% & 33% straight line

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial Instruments

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

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the group has a present Obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts arc shown within borrowings in current liabilities.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2023 2022
as restated
£ £
Donations 235,542 225,219

Included within donations is £200,000 from Cardiff City Football Club (2022 - £200,000)

16

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2023

3. INCOME FROM CHARITABLE ACTIVITIES

4.
5.
6.
Core
Education
Community
RAISING FUNDS
Raising donations and legacies
Fundraising activities
CHARITABLE ACTIVITIES COSTS
Core
Education
Community
SUPPORT COSTS
Core
Education
Community		 Unrestricted
Fund
£
91,313
184,985
276,298
Unrestricted
Fund
£
283,053
283,053		 Restricted
Fund
£
798,411
�576
.1,:31,987
Restricted
Fund
£
807,959
498,641
1,306,600		 2023
£
91,313
798,411
_'8,561
1,508,285
2023
£
3,867
2023
£
283,053
807,959
498,641
1,589,653
2023
£
34,924
98,952
60,147
194,023
2022
£
175,095
748,448
5§234
J.,504,777
2022
as restated
£
23,526
2022
£
263,573
767,508
458,683
1,489,764
2022
£
37,013
109,042
63,151
209,206

Support costs have been allocated to activities based on usage, i.e. proportionate to the expenditure incurred on charitable activities by each activity.

Included within support costs are Governance costs of £38,683 (2022 - £55,054). Of these Governance costs, £13,100 (2022 - £6,300) is in relation to auditors' remuneration.

continued ...

17

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2023

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets		 2023
£
13,100
36,112
2022
as restated
£
6,300
28,954

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.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2023
£
1,128,394
93,956
22,961
1,245,311		 2022
£
964,559
76,702
25,344
1,066_,605

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

2023 2022
as restated
Employees 55 51
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2023 2022
£70,000 - £79,999 1 1

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

The total key management personnel remuneration benefits during the year were £281,606 (2022: £185,021).

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Total		 Unrestricted
Restricted
funds
funds
a
£
£
225,219
278,251
. _,226,526
503,470
1,226,526		 Total
funds
s restated
£
225,219
1,504,777
1,729,996

continued ...

18

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
EXPENDITURE ON
£
Raising funds
23,526
Charitable activities
Charitable activities
263,573
Support costs
209,206
Total
496,305
NET INCOME
7,165
Transfers between funds
29,737
Net movement in funds
36,902
RECONCILIATION OF FUNDS
Total funds brought forard
As previously reported
891,455
Prior year adjustment
As restated
891,455
TOTAL FUNDS CARRIED FORWARD
928,357
Restricted
Total
funds
funds
as restated
£
£
23,526
1,226,191
1,489,764
209,206
1,226,191
1,722,496
335
7,500
{29,737)
(29,402)
7,500
13,862
905,317
221,907
_907
235,769
1,127,224
--
206,367
1,134,724

11. PRIOR YEAR ADJUSTMENT

Upon review of the prior year financial statements, it was noted that some income was not being recognised in line with Charities SORP. Grant income was being deferred until the corresponding expenditure was incurred. A prior year adjustment has been made to restate the opening fund balances at the commencement of the prior year.

The movement between previously reported reserves and restated reserves for the year ended 31 August 2021 is noted below:

As previously reported
Deferred income released
As restated
- Restricted
- Restricted		 Reserves
£
13,862
221,907
235,769

An additional prior year adjustment has been made to deferred income and other creditors in the prior year and funds at that year end.

19

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

11. PRIOR YEAR ADJUSTMENT- continued

The movement between previously reported reserves and deferred income, and the restated amounts for the year ended 31 August 2022 is noted below:

As previously reported
Deferred income released
Other creditors removed
As restated
- Restricted
- Unrestricted General Fund
- Restricted
- Unrestricted General Fund		 Reserves
£
71,519
872,282

943,801
176,732
14,191

190,923
206,367
928,357

1,134,724

Deferred income for 2022 has decreased from £221,448 to £44,716. Other creditors for 2022 have decreased from £21,242 to £7,051.

Income from Charitable activities has decreased from £1,539,032 to £1,504,777. Income from donations has increased from £221,948 to £225,219. The overall profit for the year has fallen from £38,484 to £7,500.

12. TANGIBLE FIXED ASSETS

Improvements
to
property
£
COST
At 1 September 2022
84,299
Additions
At 31 August 2023
84,299
DEPRECIATION
At 1 September 2022
8,025
Charge for year
17,660
At 31 August 2023
25,685
NET BOOK VALUE
At 31 August 2023
58,614
At 31 August 2022
76,274		 Plant and
machinery
£
19,713
19,713
15,534
1,068
16,602
3,111
4,179		 Motor
Computer
vehicles
equipment
Totals
£
£
£
24,000
110,321
238,333
18,167
� 167
24,000
128,488
256,500
21,598
82,858
128,015
601
16,783
_ 112
22,199
99,641
164,127
1,801
28,847
92,373
2,402
27,463
110,318		 Motor
Computer
vehicles
equipment
Totals
£
£
£
24,000
110,321
238,333
18,167
� 167
24,000
128,488
256,500
21,598
82,858
128,015
601
16,783
_ 112
22,199
99,641
164,127
1,801
28,847
92,373
2,402
27,463
110,318		 Motor
Computer
vehicles
equipment
Totals
£
£
£
24,000
110,321
238,333
18,167
� 167
24,000
128,488
256,500
21,598
82,858
128,015
601
16,783
_ 112
22,199
99,641
164,127
1,801
28,847
92,373
2,402
27,463
110,318
92,373
110,318		 92,373

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income		 2023
2022
as restated
£
£
8,235
24,021
60,129
18,144
68,364
42,165

20

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Bank loans and overdrafts (see note 15) 19,353
Trade creditors 44,461 48,639
Social security and other taxes 25,389 22,280
Other creditors 4,122 7,051
Accruals and deferred income 88,165 97,245
162,137 194,568
15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
as restated
£ £
Amounts falling due within one year on demand:
Bank loans 19,353

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023 2022
as restated
£ £
Within one year 84,854 69,388
Between one and five years 212,932 215,510
In more than five years 320,270 355,856
618,056 640,754

continued ...

21

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2023

17.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated Fund
Restricted funds
Education
PL Primary Stars
ACT Traineeship
PLPFA
PL Primary Stars
Innovation
CC Homework Club
PL Inspires
EFL Foundation Degree
Fitzalan High BTEC Level 2
CAVC BTEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
Community
PL Kicks
Children In Need
Royal British Legion
Royal Army Covenant
PL/BT Disability
Sol Foundation
British Lottery Fund
M & C Saatchi
PL Kicks Targeted
Joy of Moving
WCVA- Bluebirds
Experience
HAU Third Sector - Grange
Pavillion
Mental Health Foundation
WCVA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Cardiff and Vale
Depreciation fund
Torfaen PRU
CCC Great Winter Get
Together
Youth Justice Sport Fund
Fit Fans
TOTAL FUNDS		 Prior
year
At 1.9.22
adjustment
£
£
722,282
56,075
150,000
872,282
56,075
27,180
7,459
31,253
3,119
1,115
37,893
571
149
39
7,373
1,039
595
7,560
1,803
416
824
1,837
554
1,743
17,101
13
1,557
23,550
125
10,365
299
2,152
4,492
14,191
71,519
_3',841
943,801
190,923		 Net
movement
in funds
£
30,897
30,897
(29,855)
(8,605)
(157)
24,674
6,178
6,830
3,621
29,867
(31,336)
(21,673)
(8,000)
(8,089)
(1,415)
10,433
5,940
(13,384)
(9,904)
11
1,012
22
(14,176)
(14,191)
(2,514)
71
22
5
(74,613)
(43,716)		 Transfers
between
funds
£
96,416
96,416
29,855
8,605
(27,023)
(32,133)
(31,253)
(9,297)
(6,830)
(3,621)
(29,867)
(1,115)
(571)
21,524
588
(1,039)
(66)
(1,803)
999
(824)
(1,837)
(10,433)
(6,494)
(13)
(10,365)
14,176
2,514
(71)
(22)
(96,416)		 At
31.8.23
£
905,670
150,000
1,055,670
6,557
5,460
15,203
125
299
2,163
5,504
22
5
35,338
1,091,008

22

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS • continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 511,840 (480,943) 30,897
Restricted funds
Education
PL Primary Stars 150,509 (180,364) (29,855)
ACT Traineeship 42,072 (50,677) (8,605)
PLPFA (157) (157)
PL Primary Stars Innovation 42,624 (17,950) 24,674
PL Inspires 140,000 (133,822) 6,178
EFL Foundation Degree
Fitalan High BTEC Level 2		 66,658
47,883		 (59,828)
(44,262)		 6,830
3,621
CAVC BTEC Level 3 283,482 (253,615) 29,867
WCVA Traineeship (31,336) (31,336)
Community
PL Kicks 200,000 (221,673) (21,673)
Children In Need 18,569 (26,569) (8,000)
Royal Army Covenant 1,750 (9,839) (8,089)
Sol Foundation (1,415) (1,415)
PL Kicks Targeted 23,147 (12,714) 10,433
Joy of Moving 13,183 (7,243) 5,940
WCVA - Bluebirds Experience (13,384) (13,384)
Mental Health Foundation 45,000 (54,904) (9,904)
Twinning Project 40,991 (40,980) 11
CCC Legacy 31,494 (30,482) 1,012
CCC Prevent 8,750 (8,728) 22
Veterans Foundation 18,167 (32,343) (14,176)
Cardiff and Vale Depreciation fund (14,191) (14,191)
Torfaen PRU 12,000 (14,514) (2,514)
CCC Great Winter Get Together 5,000 (4,929) 71
Youth Justice Sport Fund 20,000 (19,978) 22
Fit Fans 20,708 (20,703) 5
1,231,987 (1,306,600) (74,613)
TOTAL FUNDS 1,743,827 (1,787,543) (43,716)

continued ...

23

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS • continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Fund
Restricted funds
Education
PL Primary Stars
ACT Traineeship
PLPFA
PL Primary Stars
Innovation
CC Homework Club
PL Inspires
EFL Foundation Degree
Fitzalan High BTEC Level 2
CAVC BTEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
Community
PL Kicks
Children In Need
Royal British Legion
Royal Army Covenant
PL/BT Disability
Sol Foundation
British Lottery Fund
M & C Saatchi
PL Kicks Targeted
Joy of Moving
WCVA- Bluebirds
Experience
HAU Third Sector - Grange
Pavillion
Mental Health Foundation
WCVA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
Veterans Foundation
Cardiff and Vale
Depreciation fund
TOTAL FUNDS		 Prior
Net
Transfers
year
movement
between
At1.9.21
adjustment
in funds
funds
£
£
£
£
741,455
7,165
29,737
150,000
891,455
7,165
29,737
(2,852)
2,852
(8,875)
8,875
104,963
(78,660)
877
7,459
19,640
11,613
3,119
28,252
(28,252)
3,197
(3,197)
11,533
(11,533)
1,115
37,893
571
149
39
15,617
(8,244)
1,039
595
9,959
(2,399)
1,803
390
26
824
1,837
281
10,793
(11,715)
641
554
55,101
(36,257)
13
25,107
125
7,054
3,311
5,834
(5,535)
2,152
4,492
14,191
13,862
221,907
335
_(29,737)
905,317
221,907
7,500		 At
31.8.22
£
778,357
J __0,000
928,357
27,180
7,459
31,253
3,119
1,115
37,893
571
149
7,412
1,039
8,155
1,803
416
824
1,837
554
18,844
13
25,107
125
10,365
299
2,152
4,492
- 91
206,367
1,134,724

24

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Education
PL Primary Stars
ACT Traineeship
PLPFA
PL Primary Stars Innovation
CC Homework Club
PL Inspires
EFL Foundation Degree
Fitzalan High BTEC Level 2
CAVC BTEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
Community
PL Kicks
Children In Need
Royal Army Covenant
Sol Foundation
PL Kicks Targeted
Joy of Moving
WCVA - Bluebirds Experience
HAU Third Sector - Grange Pavillion
Mental Health Foundation
WCVA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Cardiff and Vale Depreciation fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
503,470
(496,305)
7,165
140,000
(142,852)
(2,852)
96,511
(105,386)
(8,875)
(78,660)
(78,660)
44,352
(36,893)
7,459
15,420
(3,807)
11,613
55,250
(52,131)
3,119
64,633
(36,381)
28,252
38,817
(35,620)
3,197
249,171
(237,638)
11,533
15,000
(13,885)
1,115
49,112
(11,219)
37,893
6,440
(5,869)
571
200,227
(200,078)
149
31,854
(40,098)
(8,244)
35,915
(38,314)
(2,399)
32,196
(32,170)
26
33,926
(45,641)
(11,715)
12,466
(11,912)
554
(36,257)
(36,257)
5,000
(4,987)
13
45,000
(19,893)
25,107
16,403
(16,278)
125
4,010
(699)
3,311
1,400
(6,935)
(5,535)
5,760
(3,608)
2,152
7,492
(3,000)
4,492
5,980
(5,980)
14,191
14,191
1"�26,5�(
(1,226,191)
335
1,729,99(
(1,722,496)
__
7,500

25

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated Fund
Restricted funds
Education
PL Primary Stars
ACT Traineeship
PLPFA
PL Primary Stars
Innovation
CC Homework Club
PL Inspires
EFL Foundation Degree
Fitzalan High BTEC Level 2
CAVC BTEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
Community
PL Kicks
Children In Need
Royal British Legion
Royal Army Covenant
PL/BT Disability
Sol Foundation
British Lottery Fund
M & C Saatchi
PL Kicks Targeted
Joy of Moving
WCVA- Bluebirds
Experience
HAU Third Sector - Grange
Pavillion
Mental Health Foundation
WCVA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Cardiff and Vale
Depreciation fund
Torfaen PRU
CCC Great Winter Get
Together
Youth Justice Sport Fund
Fit Fans
TOTAL FUNDS		 Prior
year
At 1.9.21
adjustment
£
£
741,455
150,000
891,455
104,963
19,640
39
15,617
1,039
595
9,959
1,803
390
824
1,837
281
10,793
55,101
7,054
5,834
13,862
221,907
905,317
221,907		 Net
Transfers
movement
between
At
in funds
funds
31.8.23
£
£
£
38,062
126,153
905,670
150,000
38,062
126,153
1,055,670
(32,707)
32,707
(17,480)
17,480
(78,817)
(26,146)
32,133
(32,133)
11,613
(31,253)
9,297
(9,297)
35,082
(35,082)
6,818
(6,818)
41,400
(41,400)
1,115
(1,115)
6,557
6,557
571
(571)
(21,524)
21,524
(16,244)
588
(1,039)
(10,488)
(66)
(1,803)
(1,389)
999
(824)
(1,837)
(1,282)
(9,792)
6,494
(6,494)
(49,641)
5,460
13
(13)
15,203
15,203
125
125
3,311
(10,365)
(5,535)
299
2,163
2,163
5,504
5,504
22
22
(14,176)
14,176
(2,514)
2,514
71
(71)
22
(22)
5
5
(74,278)
(126,153)
35,338
(36,216)
1,091,008

continued ...

26

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Education
PL Primary Stars
ACT Traineeship
PLPFA
PL Primary Stars Innovation
CC Homework Club
PL Inspires
EFL Foundation Degree
Fitzalan High BTEC Level 2
CAVC BTEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
Community
PL Kicks
Children In Need
Royal Army Covenant
Sol Foundation
PL Kicks Targeted
Joy of Moving
WCVA - Bluebirds Experience
HAU Third Sector - Grange Pavillion
Mental Health Foundation
WCVA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Cardiff and Vale Depreciation fund
Torfaen PRU
CCC Great Winter Get Together
Youth Justice Sport Fund
Fit Fans
TOTAL FUNDS		 Incoming
resources
£
1,015,310
290,509
138,583
86,976
15,420
195,250
131,291
86,700
532,653
15,000
49,112
6,440
400,227
50,423
37,665
32,196
57,073
25,649
5,000
90,000
16,403
4,010
1,400
46,751
38,986
14,730
18,167
14,191
12,000
5,000
20,000
20,708
2,458,513
3,473,823
Resources
Movement
expended
in funds
£
£
(977,248)
38,062
(323,216)
(32,707)
(156,063)
(17,480)
(78,817)
(78,817)
(54,843)
32,133
(3,807)
11,613
(185,953)
9,297
(96,209)
35,082
(79,882)
6,818
(491,253)
41,400
(13,885)
1,115
(42,555)
6,557
(5,869)
571
(421,751)
(21,524)
(66,667)
(16,244)
(48,153)
(10,488)
(33,585)
(1,389)
(58,355)
(1,282)
(19,155)
6,494
(49,641)
(49,641)
(4,987)
13
(74,797)
15,203
(16,278)
125
(699)
3,311
(6,935)
(5,535)
(44,588)
2,163
(33,482)
5,504
(14,708)
22
(32,343)
(14,176)
(14,191)
(14,514)
(2,514)
(4,929)
71
(19,978)
22
(20,703)
5
(2,532,791)
(74,278)
(3,510,039)
(36,216)

Designated Funds

The Trustees have carried forward a designated fund created in the 18/19 year totalling £150,000. £100,000 is designated to support community and education projects and £50,000 to support the development and sustainability of services.

Education

Projects and programmes to support children and young people learn, be active, develop important life skills and progress to future education and employment opportunities.

continued ...

27

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

17. MOVEMENT IN FUNDS - continued

Community

Projects and programmes to support people in our communities to improve wellbeing and contribute to stronger, more cohesive communities.

Transfers between funds

An amount of £96,416 was transferred from unrestricted funds to cover a net overspend during the year.

18. RELATED PARTY DISCLOSURES

The following transactions have taken place with business linked to trustees of the charity:-

There were no other related party transactions for the year ended 31 August 2023.

continued ...

28

CARDIFF CITY FC COMMUNITY FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

FOR THE YEAR ENDED 31 AUGUST 2023
2023 2022
as restated
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 235,542 225,219
Charitable activities
Core 91,313 175,095
Education 798,411 748,448
Community 618,561 �234
1,508,285 1,504,777
Total incoming resources 1,743,827 1,729,996
EXPENDITURE
Raising donations and legacies
Fundraising activities 3,867 23,526
Charitable activities
Core 283,053 263,573
Education 807,959 767,508
Community 498,641 458,683
1,589,653 1,489,764
Support costs
Support costs
Auditors' remuneration 13,100 6,300
Rates and water (16,715) 4,501
Insurance 7,061 7,423
Telephone 4,988 3,853
Postage and stationary 1,424 264
Sundries 4,682 1,707
Vehicle hire, motor, travel & subsistence 2,471 2,499
Accountancy and legal fees 25,583 48,754
Computer website costs 48,627 43,818
Internal marketing & communications 44,311 20,579
Rent 15,440 29,658
Staff training & welfare 19,369 27,753
Depreciation of tangible fixed assets 23,682 12,097
194,023 �206
Total resources expended 1,787,543 1,722,496
Net (expenditure)/income (43,716) _
7,500

These page does not form part of the statutory financial statements

29