## **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**||**to**7|
|**Report of the Independent Auditors**|8|
**to**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**|15|
**to**27|
|**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**
- �ur 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.
## **Values**
- �ssion - 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 / Serices**
- Early Years and Primary Education. Secondary Education and Training. Post .16 Education and Training. Youth Outreach.
- Community Outreach.
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:
- To promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health ('facilities' in this case means land, buildings, equipment and organising sporting activities); To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life;
- To advance the education of childhood and young people through such means as the trustees think fit in accordance with the law of charity; and
- For the general purposes of such charitable bodies or for such other exclusively charitable purposes in each case as the trustees may from time to time decide.
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
- 86% of service users reported improved mental and emotional wellbeing
- Learning & Skills
- 86% of service users reported an improved attitude to learning 93% of service users reported personal development and progression
- Building stronger communities 90% of service users reported an increased sense of belonging within their community 87% of service users reported improved relationships with peers
## 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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **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:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- - have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **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:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
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**
**beginning**of**the 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
- 25% reducing balance
- 25% reducing balance
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)|
|TOTAL**FUNDS**|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 ...
Page 26
## **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:-
- Cardiff City Football Club of which V K Choo is Chief Executive & S Barley is a Director purchases of £106,815 and sales of £211. At the year end there was an outstanding creditor balance of £70,771. There were total donations of £200,000 during the year, of which nothing was outstanding at the year end;
- House of Sport of which V K Choo & S Barley are Directors - purchases of £91,842. At the year end there were no outstanding balances.
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