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2024-08-31-accounts

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

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR

CARDIFF CITY FC COMMUNITY FOUNDATION

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

CARDIFF CITY FC COMMUNITY FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Page
Report of the Trustees to7
Report of the Independent Auditors 8
to10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15
to27
Detailed Statement of Financial Activities 28

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

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 2024. 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

The Trustees present the Annual Report and Audited Financial Statements for the year ended 31 August 2024.

About Cardiff 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

Goals

Objectives

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

To build a resilient and sustainable organisation.

Values

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

Our Programmes / Serices

Bluebirds Experiences (Soccer Schools).

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:

Page 1

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Background

At the heart of our mission is the belief that football clubs can inspire hope, passion, and a sense of belonging.

During the year, the charity continued to provide services which contributed to our three long-term outcomes; improving health and wellbeing, supporting learning and skills, and building stronger communities. We adopted a more place-based approach to service delivery, focussing our efforts within specific communities. This approach contributed to a record year for engagement and social impact as we strengthened connections with local partners and responded directly to local need.

In Primary Education, we used the power of football to support children to learn, be active and develop crucial life skills. Moving into Secondary Education, our programmes equipped young people with the tools they need to succeed as they progress through the education system and into early adulthood. Our Further and Higher Education programmes nurtured the wellbeing of young people by providing them with educational studies, training, and employment opportunities in a supportive environment.

Our youth outreach project created safer and more inclusive communities by offering free football sessions and personal development pathways for young people. Our Bluebirds Community projects extended support to the wider Cardiff City communities, promoting wellbeing and fostering a sense of belonging through initiatives like FIT Bluebirds, the 1927 Club, and our Armed Forces Veterans Hub.

Like many other third sector organisations, the charity experienced rising demand for services during a period of increased costs and reducing income. The charity used some of its reserves to address short term reductions in funding and explore opportunities for service development.

ACHIEVEMENT AND PERFORMANCE Key Achievements and Performance

Service Engagement

During the year 13,861 services users engaged with our services (22/23 = 11,544) representing a 20% year on year increase. There were 147,657 recorded attendances (22/23 = 120,129), representing a 23% year on year increase. 15% of services users were from ethnic minority backgrounds (22/23 = 9% ). 36% of service users were female (22/23 = 38%).

Participants with Disabilities: 10% of service users have a disability (22/23 7%).

These figures demonstrate our commitment to inclusion and efforts to engage with the diverse communities we serve.

Service Delivery Overview

In total, we delivered 9,619 sessions in 2023/24, an increase from 8,395 sessions in 2022/23. These were held at 131 schools and community venues, compared to 228 venues last year.

Location Breakdown:

37% of sessions took place in Cardiff (down from 49% in 2022/23).

34% were in Rhondda Cynon Taf (up from 22%).

10% were in the Vale of Glamorgan (down from 16%).

7% were in Caerphilly (slightly down from 8%). The remaining sessions were in Bridgend, Merthyr Tydfil, and Blaenau Gwent.

Deprivation Areas:

83% of our sessions were delivered in the 50% most deprived areas (up from 77% last year). 69% of sessions were in the 30% most deprived areas (up from 60%).

Page 2

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Social Impact

During the year we announced our estimated social impact value of £17.9 million - a substantial rise from £11 million in the previous year. The data, independently assessed using the UEFA Social Return on Investment model and supported by research from social value specialists Substance, highlights the Foundation's far-reaching influence in areas such as health and wellbeing, learning and skills and building stronger communities.

Health & Wellbeing

86% of service users reported improved physical health

Serice Development & Future Plans

Our plans for service development include:

Place based approach - continuous improvement and roll out of place-based approach. Learning and skills - introduction of a new Junior Apprenticeship and growth of FE/HE.

Health - increasing availability of programmes designed to improve health and wellbeing.

Risks and Uncerainties

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 invested 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.

Page 3

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Financial Review and Financial Position

Total incoming resources amounted to £1,646,505 (2022/23 = £1,743,827) with £1,405,474 (2022/23 - £1,508,285) comprising charitable income. The balance of £241,031 (2022/23 - £235,542) representing) general donations and investment income.

Total resources expended amounted to £1,752,118 (2022/23 - £1,787,543 with £1,540.975 (2022/23 - £1,589,653) of this being directly on charitable activities, £209,569 (2022/23 - £194,023) to support the delivery of services and £1,574 (2022/23 - £3,867) on fundraising costs.

The net movement in funds was a deficit of £105,613 (2022/23 - £43,716). The balance sheet at 31 August 2024 shows total reserves carried forward of £985,395 (2023 - £1,091,008).

Principle Funding Sources

The principle funding providers were the Premier League Charitable Fund (35%), Cardiff and Vale College (15%), Cardiff City FC (12%) and the English Football League Trust (10%).

Reseres Policy

The board of trustees reviews 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.

The total level of unrestricted reserve funds at year end was £976,868. The charity is holding reserves above the reserves threshold to safeguard against potential funding shortfalls in a volatile and uncertain funding climate. Maintaining reserves at this level also allows us to respond to opportunities without compromising financial stability.

The Trustees have considered both the level of reserves and the reserves policy in the context of the financial risks and uncertainties that the charity faces 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.

Page 4

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document

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 twelve and shall consist of up to three trustees nominated by Cardiff City FC and four or more trustees appointed by the trustees. Apart from the nominated 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 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 six 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, Development 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.

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 10.

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 in the Community and Cardiff & Vale College.

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

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06799376 (England and Wales)

Page 5

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Registered Charity number 1128443

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

Trustees Trustees who sered during the year Name Board Role Leighton Andrews Chair of Trustees Steve Sorley• Vice Chair of Trustees Chris Hatcher Treasurer Ali Abdi James Bibby* (Resigned 13/01/2024) VK Choo• Hywel Dafydd Katie Dalton Andrew Diplock Shikala Mansfield (Resigned 10/02/2025) Kerys Sheppard (Resigned 22/10/2024) Luke Takeuchi (Appointed 15/11/2024) Catrin Stark Huw Warren• (Appointed 7/05/2024)

*Nominated by Cardiff City FC

Foundation Director

Gavin Hawkey

Key Management Personnel

Name Role Gavin Hawkey Foundation Director Samir Mebarki Head of Finance & Resources Zac Lyndon-Jones Head of Community Development Veronica Moreno Head of Governance and Assurance (Appointed 6/11/2023) Fiona Lott Head of Education & Training (Resigned 31/03/2024) Joanne Bendon Head of Education & Training (Appointed 15/07/2024) Carwyn Williams Head of Income Generation & External Affairs (Resigned 28/06/2024) Catherine Angle Head of Fundraising and External Engagement (Appointed 1/10/2024)

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 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).

Page 6

CARDIFF CITY FC COMMUNITY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

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. Approved by order of the board of trustees on ... [§.] .[(] .$·(·'2-.[5 ] ................... and signed on its behalf by:

Page 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 FC Community Foundation (the 'charitable company') for the year ended 31 August 2024 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 f[o] r 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 staled 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:

Page 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: enquiring of management, including obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to; identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud; 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 operations of the charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

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 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.

Page 9

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

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 fomied.

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: 13th March 2025

Page 10

CARDIFF CITY FC COMMUNITY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Charitable activities
Investment income
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable activities
Support costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forard
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
funds
funds
£
£
232,052
225,752
1,179,722
8,979
466,783
1,179,722
1,574
287,081
1,253,894
209,569
498,224
1,253,894
(31,441)
(74,172)
(47,361)
47,361
(78,802)
(26,811)
1,055,670
35,338
976,868
8,527		 2024
2023
Total
Total
funds
funds
£
£
232,052
235,542
1,405,474
1,508,285
8,979
1,646,505
1,743,827
1,574
3,867
1,540,975
1,589,653
209,569
194,023
1,752,118
1,787,543
(105,613)
(43,716)
(105,613)
(43,716)
1,091,008
1,134,724
985,395
1,091,008

The notes form part of these financial statements

Page 11

CARDIFF CITY FC COMMUNITY FOUNDATION

BALANCE SHEET 31 AUGUST 2024

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
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
71,276
205,705
844,057
1,049,762
(144,170)
905,592
976,868
9�6,868		 Restricted
funds
£
8,527
8,527
8,527
8,527
8,527		 2024
Total
funds
£
71,276
205,705
852,584
1,058,289
(144,170)
914,119
985,395
985,395
976,868
8,527
985,395		 2023
Total
funds
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
1,091,008

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 and were signed on its behalf by: .5'-[ .. 13;-+1.2=6 ............

The notes form part of these financial statements

Page 12

CARDIFF CITY FC COMMUNITY FOUNDATION

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
Cash flows from operating activities
Cash generated from operations
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Notes
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginningofthe reporting period
Cash and cash equivalents at the end of
the reporting period
2024
£
(239,063)
(239,063)
(9,740)
8,979
(761)
(239,824)
1,092,408
852,584		 2023
£
(46,881)
(46,881)
(18,167)
(18,167)
(19,353)
(19,353)
(84,401)
1,176,809
1,092,408

The notes form part of these financial statements

Page 13

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

  1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024 2023
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (105,613) (43,716)
Adjustments for:
Depreciation charges 30,837 36,112
Interest received (8,979)
Increase in debtors (137,341) (26,199)
Decrease in creditors (17,967) (13,078)
-
-
Net cash used in operations (239,063)
---		 (46,881)
---

2. ANALYSIS OF CHANGES IN NET FUNDS

ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total
At 1.9.23
£
1,092,408
1,092,408
1,092,408		 Cash flow
£
(239,824)
(239,824)
(239,824)		 At 31.8.24
£
852,584
852,584
852,584

The notes form part of these financial statements

Page 14

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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, income represents the value of work done in the year, including estimates of amounts not invoiced. income 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.

Plant and machinery

Motor Vehicles

Page 15

continued ...

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES· continued

Tangible fixed assets

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

continued ...

Page 16

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES· continued

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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 are shown within borrowings in current liabilities.

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
2024 2023
£ £
Donations 232,052 235,542
Included within donations is £200,000 from Cardiff City Football Club (2023 - £200,000)
3. INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 8,979
4. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Restricted
Fund Fund 2024 2023
£ £ £ £
Core 98,116 98,116 91,313
Education
Communit		 127,636 776,155
403,567		 776,155
531,203		 798,411
618,561
225,752 1,179,722 1,405,474 1,508,285
5. RAISING FUNDS
Raising donations and legacies
2024 2023
£ £
Fundraising activities 1,574 3,867
6. CHARITABLE ACTIVITIES COSTS
Unrestricted Restricted
Fund Fund 2024 2023
£ £ £ £
Core 287,081 287,081 283,053
Education 799,052 799,052 807,959
Community 454,842 454,842 498,641
287,081 1,253,894 1,540,975 1,589,653

6. CHARITABLE ACTIVITIES COSTS

continued ...

Page 17

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS • continued FOR THE YEAR ENDED 31 AUGUST 2024

7. SUPPORT COSTS

SUPPORT COSTS
Core
Education
Community
2024
£
39,043
108,669
61,857
209,569		 2023
£
34,924
98,952
60,147
194,203

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 £39,796 (2023 -£38,683). Of these Governance costs, £12,810 (2023-£13,100) is in relation to auditors' remuneration.

8. NET INCOME/(EXPENDITURE)

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

2024 2023
£ £
Auditors' remuneration 12,810 13,100
Depreciation -owned assets 30,837 36,112

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
1,184,060
107,374
25,452
1,316,886
2023
£
1,128,394
93,956
22,961
1,245,311

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

2024 2023
Employees 56 55
The number of employee's whose employee benefits {excluding employer pension costs) exceeded £60,0
was:
2024 2023
£70,000 -£70,999 1 1

The number of employee's whose employee benefits {excluding employer pension costs) exceeded £60,000 was:

The total key management personnel remuneration benefits during the year were £319,487 (2023: £281,606).

continued ...

Page 18

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Suppor costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement In funds
RECONCILIATION OF FUNDS
Total funds brought forard
As previously reported
Prior year adjustment
As restated
TOTAL FUNDS CARRIED FORWARD
12.
TANGIBLE FIXED ASSETS
Improvements
to
Plant and
propery
machinery
£
£
COST
At 1 September 2023
84,299
19,713
Additions
Disposals
At 31 August 2024
84,299
19,713
DEPRECIATION
At 1 September 2023
25,685
16,602
Charge for year
16,859
835
Eliminated on disposal
At 31 August 2024
42,544
17,437
NET BOOK VALUE
At 31 August 2024
41,755
2,276
---
---
At 31 August 2023
58,614
3,111		 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
1,055,670
Motor
vehicles
£
24,000
24,000
22,199
450
22,649
1,351
---
1,801		 Restricted
funds
£
1,231,987
1,231,987
1,306,600
1,306,600
(74,613)
(96,416)
(171,029)
71,519
134,848
206,367
35,338
Computer
equipment
£
128,488
9,740
(88,835)
49,393
99,641
12,693
(88,835)
23,499
25,894
---
28,847		 Total
funds
£
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
Totals
£
256,500
9,740
(88,835)
177,405
---
164,127
30,837
(88,835)
106,129
71,276
---
92,373
---

continued ...

Page 19

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 10,179 8,235
Accrued income 92,972 41,718
Prepayments 102,554 18,411
205,705 68,364
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 78,566 44,461
Social security and other taxes 24,124 25,389
Other creditors 5,709 4,122
Accruals and deferred income 35,771 88,165
144,170 162,137

15. LEASING AGREEMENTS

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

2024 2023
£ £
Within one year 65,586 84,854
Between one and five years 152,342 242,932
In more than five years 284,685 320,270
502,613 648,056

continued ...

Page 20

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated Fund
Restricted funds
BPL Primary Stars
BPL Primary Stars Innovation
BPL Inspires
EFL Foundation Degree
Fitzalan High STEC Level 2
CAVC BTEC Level 3
WCVA Traineeship
BPL Kicks
Joy of Moving
WCVA - Bluebirds Experience
Mental Health Foundation
WVCA - Volunteering
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Fil Fans
Sport and BM Degree
CCC Ely & Caerau Schools
Kelloggs Camps
Cardiff Community Safety
Community Matters - National Grid
Ely & Caerau Community
National Lottery - Football Welcomes
NHS Wales - CAV-IT
BPL Fan Fund
TOTAL FUNDS		 At 1.9.23
£
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		 Net
movement
in funds
£
(31,441)
(31,441)
(34,763)
19,304
(244)
6,616
(17,870)
698
(6)
6,811
(17,470)
(798)
(26,220)
(913)
714
(16,024)
4,263
609
(4,058)
1,567
(67)
259
22
689
(1,550)
4,259
(74,172)
(105,613)		 Transfers
between
funds
£
52,639
(100,000)
(47,361)
34,763
(19,304)
244
(6,616)
17,870
(698)
(6,557)
6
(6,811)
(5,460)
2,267
673
(299)
24,057
(4,591)
(736)
16,024
(609)
4,058
(1,567)
67
(259)
(22)
(689)
1,550
47,361		 At
31.8.24
£
926,868
50,000
976,868
4,268
4,259
8,527
985,395

continued ...

Page 21

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2024

16. MOVEMENT IN FUNDS • continued

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

Incoming
resources
£
Unrestricted funds
General fund
466,783
Restricted funds
SPL Primary Stars
150,110
SPL Primary Stars Innovation
37,520
SPL Inspires
160,110
EFL Foundation Degree
77,783
Fitzalan High STEC Level 2
39,050
CAVC STEC Level 3
272,404
SPL Kicks
205,750
Joy of Moving
13,450
Mental Health Foundation
WVCA - Volunteering
Twinning Project
40,546
CCC Legacy
17,500
CCC Prevent
11,250
Veterans Foundation
20,000
Fit Fans
37,292
Spor and SM Degree
10,400
CCC Ely & Caerau Schools
15,328
Kelloggs Camps
20,239
Cardif Community Safety
3,000
Community Matters - National Grid
9,990
Ely & Caerau Community
2,300
National Lotter - Football Welcomes
10,000
NHS Wales - CAV-ITT
13,200
SPL Fan Fund
12,500
1,179,722
TOTAL FUNDS
1,646,505		 Resources
expended
£
(498,224)
(184,873)
(18,216)
(160,354)
(71,167)
(56,920)
(271,706)
(205,756)
(6,639)
(17,470)
(798)
(66,766)
(18,413)
(10,536)
(36,024)
(33,029)
(9,791)
(19,386)
(18,672)
(3,067)
(9,731)
(2,278)
(9,311)
(14,750)
(8,241)
(1,253,894)
(1,752,118)		 Movement
in funds
£
(31,441)
(34,763)
19,304
(244)
6,616
(17,870)
698
(6)
6,811
(17,470)
(798)
(26,220)
(913)
714
(16,024)
4,263
609
(4,058)
1,567
(67)
259
22
689
(1,550)
4,259
(74,172)
(105,613)

continued ...

Page 22

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Prior Net Transfers
year movement between Al
Al 1.9.22 adjustment in funds funds 31.8.23
£ £ £ £ £
Unrestricted funds
General fund 722,282 56,075 30,897 96,416 905,670
Designated Fund 150,000 150,000
---
872,282 56,075 30,897 96,416 1,055,670
Restricted funds
BPL Primary Stars (29,855) 29,855
ACT Traineeship (8,605) 8,605
BPL Project Manager 27,180 (157) (27,023)
BPL Primary Stars
Innovation 7,459 24,674 (32,133)
CC Homework Club 31,253 (31,253)
BPL Inspires 3,119 6,178 (9,297)
EFL Foundation Degree 6,830 (6,830)
Fitzalan High BTEC Level
2 3,621 (3,621)
CAVC BTEC Level 3 29,867 (29,867)
Hodge Foundation 1,115 (1,115)
WCVA Traineeship 37,893 (31,336) 6,557
Other Education Projects 571 (571)
BPL Kicks 149 (21,673) 21,524
Children In Need 39 7,373 (8,000) 588
Royal British Legion 1,039 (1,039)
Royal Army Covenant 595 7,560 (8,089) (66)
BPUBT Disability 1,803 (1,803)
Sol Foundation
British Lotter Fund		 416
824		 (1,415) 999
(824)
M&C Saatchi 1,837 (1,837)
BPL Kicks Targeted 10,433 (10,433)
Joy of Moving 554 5,940 (6,494)
WCVA - Bluebirds
Experience 1,743 17,101 (13,384) 5,460
HAU Third Sector -
Grange Pavillion 13 (13)
Mental Health Foundation 1,557 23,550 (9,904) 15,203
WVCA - Volunteering
Other Communit Projects		 125
10,365		 (10,365) 125
The Waterloo Foundation 299 299
Twinning Project 2,152 11 2,163
CCC Legacy 4,492 1,012 5,504
CCC Prevent 22 22
Veterans Foundation (14,176) 14,176
Cardiff and Vale
Depreciation fund
Toraen PRU		 14,191 (14,191)
(2,514)		 2,514
CCC Great Winter Get
Together 71 (71)
Youth Justice Sport Fund 22 (22)
Fit Fans 5 5
71,519 134,848 (74,613) (96,416) 35,338
TOTAL FUNDS 943,801 190,923 (43,716) 1,091,008
--- --- ---

continued ...

Page 23

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

16. MOVEMENT IN FUNDS - continued

Comparative 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
BPL Primary Stars 150,509 (180,364) (29,855)
ACT Traineeship 42,072 (50,677) (8,605)
BPL Project Manager (157) (157)
BPL Primary Stars Innovation 42,624 (17,950) 24,674
BPL Inspires 140,000 (133,822) 6,178
EFL Foundation Degree 66,658 (59,828) 6,830
Fitzalan High BTEC Level 2 47,883 (44,262) 3,621
CAVC STEC Level 3
WCV Traineeship		 283,482 (253,615)
(31,336)		 29,867
(31,336)
BPL 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)
BPL 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
Toraen PRU		 12,000 (14,191)
(14,514)		 (14,191)
(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)
TOTALFUNDS 1,743,827 (1,787,543) (43,716)

continued ...

Page 24

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

16. 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
BPL Primary Stars
ACT Traineeship
BPL Project Manager
BPL Primar Stars
Innovation
CC Homework Club
BPL Inspires
EFL Foundation Degree
Fitzalan High STEC Level
2
CAVC STEC Level 3
Hodge Foundation
WCVA Traineeship
Other Education Projects
BPL Kicks
Children In Need
Royal British Legion
Royal Army Covenant
BPUBT Disability
Sol Foundation
British Lottery Fund
M & C Saatchi
BPL Kicks Targeted
Joy of Moving
WCVA - Bluebirds
Experience
HAU Third Sector·
Grange Pavillion
Mental Health Foundation
WVCA - Volunteering
Other Community Projects
The Waterloo Foundation
Twinning Project
CCC Legacy
CCC Prevent
Veterans Foundation
Cardiff and Vale
Depreciation fund
Toraen PRU
CCC Great Winter Get
Together
Youth Justice Spor Fund
Fit Fans
Sport and BM Degree
CCC Ely & Caerau
Schools
Kelloggs Camps
Cardiff Community Safety
Community Matters -
National Grid
Ely & Caerau Community
National Lottery - Football
Welcomes
NHS Wales - CAV-IT		 Prior
Net
Transfers
year
movement
between
At
At 1.9.22
adjustment
in funds
funds
31.8.24
£
£
£
£
£
722,282
56,075
(544)
149,055
926,868
150,000
(100,000)
50,000
872,282
56,075
(544)
49,055
976,868
(64,618)
64,618
(8,605)
8,605
27,180
(157)
(27,023)
7,459
43,978
(51,437)
31,253
(31,253)
3,119
5,934
(9,053)
13,446
(13,446)
(14,249)
14,249
30,565
(30,565)
1,115
(1,115)
37,893
(31,336)
(6,557)
571
(571)
149
(21,679)
21,530
39
7,373
(8,000)
588
1,039
(1,039)
595
7,560
(8,089)
(66)
1,803
(1,803)
416
(1,415)
999
824
(824)
1,837
(1,837)
10,433
(10,433)
554
12,751
(13,305)
1,743
17,101
(13,384)
(5,460)
13
(13)
1,557
23,550
(27,374)
2,267
125
(798)
673
10,365
(10,365)
299
(299)
2,152
(26,209)
24,057
4,492
99
(4,591)
736
(736)
(30,200)
30,200
14,191
(14,191)
(2,514)
2,514
71
(71)
22
(22)
4,268
4,268
609
(609)
(4,058)
4,058
1,567
(1,567)
(67)
67
259
(259)
22
(22)
689
(689)
(1,550)
1,550

continued ...

Page 25

CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

16.
MOVEMENT IN FUNDS-continued
BPL Fan Fund
71,519
134,848
TOTAL FUNDS
943,801
190,923		 4,259
(148,785)
(149,329)		 (49,055) 4,259
8,527
985,395

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


as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 978,623 (979,167) (544)
Restricted funds
BPL Primary Stars 300,619 (365,237) (64,618)
ACT Traineeship 42,072 (50,677) (8,605)
BPL Project Manager (157) (157)
BPL Primary Stars Innovation 80,144 (36,166) 43,978
BPL Inspires 300,110 (294,176) 5,934
EFL Foundation Degree 144,441 (130,995) 13,446
Fitzalan High BTEC Level 2 86,933 (101,182) (14,249)
CAVC BTEC Level 3 555,886 (525,321) 30,565
WCVA Traineeship (31,336) (31,336)
BPL Kicks 405,750 (427,429) (21,679)
Children In Need 18,569 (26,569) (8,000)
Royal Army Covenant 1,750 (9,839) (8,089)
Sol Foundation (1,415) (1,415)
BPL Kicks Targeted 23,147 (12,714) 10,433
Joy of Moving 26,633 (13,882) 12,751
WCVA- Bluebirds Experience (13,384) (13,384)
Mental Health Foundation 45,000 (72,374) (27,374)
WVCA - Volunteering (798) (798)
Twinning Project 81,537 (107,746) (26,209)
CCC Legacy 48,994 (48,895) 99
CCC Prevent 20,000 (19,264) 736
Veterans Foundation
Cardif and Vale Depreciation fund		 38,167 (68,367)
(14,191)		 (30,200)
(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
Spor and BM Degree		 58,000
10,400		 (53,732)
(9,791)		 4,268
609
CCC Ely & Caerau Schools 15,328 (19,386) (4,058)
Kelloggs Camps
Cardif Community Safety
Communit Matters - National Grid		 20,239
3,000
9,990		 (18,672)
(3,067)
(9,731)		 1,567
(67)
259
Ely & Caerau Community 2,300 (2,278) 22
National Lottery - Football Welcomes
NHS Wales - CAV-IT		 10,000
13,200		 (9,311)
(14,750)		 689
(1,550)
BPL Fan Fund 12,500 (8,241) 4,259
2,411,709 (2,560,494) (148,785)
TOTAL FUNDS 3,390,332 (3,539,661) (149,329)

Designated Funds

The Trustees carried forward a designated fund of £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 ...

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CARDIFF CITY FC COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31 AUGUST 2024

16. 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 £47,361 was transferred from unrestricted funds to cover a net overspend during the year.

17. 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 2024.

Page 27

CARDIFF CITY FC COMMUNITY FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
Charitable activities
Core
Education
Community
Total incoming resources
EXPENDITURE
Raising donations and legacies
Fundraising activities
Charitable activities
Core
Education
Community
Support cost
Suppor costs
Auditors' remuneration
Rates and water
Insurance
Telephone
Postage and stationary
Sundries
Vehicle hire, motor, travel & subsistence
Accountancy and legal fees
Computer website costs
Internal marketing & communications
Rent
Staff training & welfare
Depreciation of tangible fixed assets
Total resources expended
Net expenditure		 2024
£
232,052
8,979
98,116
776,155
531,203
1,405,474
1,646,505
1,574
287,081
799,052
454,842
1,540,975
12,810
(2,194)
9,151
7,631
1,526
4,777
2,280
26,986
60,628
31,098
15,440
15,890
23,546
209,569
1,752,118
(105,613)		 2023
£
235,542
91,313
798,411
618,561
1,508,285
1,743,827
3,867
283,053
807,959
498,641
1,589,653
13,100
(16,715)
7,061
4,988
1,424
4,682
2,471
25,583
48,627
44,311
15,440
19,369
23,682
194,023
1,787,543
(43,716)

This page does not form part of the statutory financial statements

Page 28