2022-06-30-accounts - Chelsea FC Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Report of the Trustees		1-5
Independent Auditors' Report		6-9
Consolidated Statement of Financial	Activities	10
Consolidated Balance Sheet
Charitable Company Balance Sheet
Consolidated Cash Flow Statement		13
Notes to the Financial Statements		14-28

							As restated
			Unrestricted	Designated	Restricted	Total	Total
			funds	funds	funds	2022	2021
		Notes
Income from:
Donations			400,481			400,481	1,539,890
Charitable activities			4,658,018		738,255	5,396,273	3,974,505
Fundraising income			181,555			181,555	177,805
Total income			5,240,054		738,255	5,978,309	5,692,200
Expenditure on:
Costs of raising funds							156
Charitable activities		7	4,713,177		1,748,122	6,461,299	6,373,422
Total expenditure			4,713,177		1,748,122	6,461,299	6,373,578
Net movement before transfers			526,877		( 1,009,867 )	(482,990 )	( 681,378 )
Transfers between	funds	19	( 575,211 )	293,000	282,211
Net movement in funds			( 48,334 )	293,000	( 727,656 )	( 482,990 )	( 681,378 )
Reconciliation offunds
Total funds brought	forward		965,707		1,094,361	2,060,068	2,741,446
Total funds carried	forward		917,373	293,000	366,705	1,577,078	2,060,068

				2022		2021
						As restated
		Notes			F
Fixed assets
Tangible assets		13		40,820		50,148
Intangible assets		14		7,020		8,100
				47,840		58,248
Current assets
Debtors			559,989		1,465,649
Cash at bank and in hand			2,277,834		1,805,141
			2,837,823		3,270,790
Liabilities
Creditors: amounts	falling due
within one year		17	( 1,308,585 )		( 1,268,970 )
Net current assets				1,529,238		2,001,820
Total assets less current liabilities				1,577,078		2,060,068
Total net assets				1,577,078		2,060,068
The funds ofthe charity
Unrestricted funds		19		917,373		965,707
Designated funds		19		293,000
				1,210,373		965,707
Restricted funds		19		366,705		1,094,361
				1,577,078		2,060,068

				2022		2021
						As restated
		Notes
Fixed assets
Tangible assets		13		40,820		50,148
Intangible assets		14		7,020		8,100
investments				1		1
				47,841		58,249
Current assets
Debtors		16	687,070		1,610,131
Cash at bank and in hand			1,870,311		1,387,801
			2,557,381		2,997,932
Liabilities
Creditors: amounts	falling due
within one year		17	( 1,308,585 )		( 1,280,440 )
Net current assets				1,248,796		1,717,492
Total assets less current liabilities				1,296,637		1,775,741
Total net assets				1,296,637		1,775,741
The funds ofthe charity
Unrestricted funds		19		636,932		681,380
Designated funds		19		293,000
				929,932		681,380
Restricted funds		19		366,705		1,094,361
				1,296,637		1,775,741

Cash flows from operating	activities:
Cash generated from operations			24	478,965	1,914,368
Net cash provided by operating activities				478,965	1,914,368
Cash flows from investing	activities:
Purchase oftangible fixed assets Purchase of intangible fixed assets Proceeds of sale of intangible assets				(4,652 ) ( 9,720 ) 8,100	( 7,292 ) ( 8,100 )
Net cash usedininvesting	activities			( 6,272 )	( 15,392 )
Change in cash and cash	equivalents	in the year		472,693	1,898,976
Cash and cash equivalents	at the beginning		ofthe year	1,805,141	3,704,117
Cash and cash equivalents	at the end ofthe year			2,277,834	1,805,141
Cash and cash equivalents	consist of:
Cash at bank and in hand				2,277,834	1,805,141

Statement ofFina	ncial Acti	vities for the prio	r year
						Total
			Unrestricted	Restricted	Designated	funds
			Funds	Funds	Funds	2021
		Notes
Income from:
Donations			584,602	955,288		1,539,890
Charitable activities			3,005,522	968,983		3,974,505
Fundraising income			177,805			177,805
Total income			3,767,929	1,924,271		5,692,200
Expenditure on:
Raising funds			156			156
Charitable activities			4,318,535	2,054,887		6,373,422
Total expenditure			4,318,691	2,054,887		6,373,578
Net movement in funds			( 550,762 )	( 130,616 )		( 681,378 )
Reconciliation offunds
Total funds brought	forward		1,516,469	1,224,977		2,741,446
Total funds carried	forward		965,707	1,094,361		2,060,068

2022	2021
	f
400,481	1,539,890
400,481	1,539,890

Income from ch	aritable	activities by activity
			2022	2021
Grant income			1,523,030	1,070,924
Direct charitable	activities		3,873,243	2,903,581
			5,396,273	3,974,505
Income from fundraising		activities
			2022	2021
			f
Raffles and lottery			181,555	177,805
			181,555	177,805

Charitable activities	expenditure
		2022f	2021
Staff costs		3,377,789	3,512,223
Coaching programme	costs	1,778,486	1,193,843
Transport costs		39,341	27,799
Other costs		449,417	680,433
Coach education costs		12,757	9,864
Support costs		803,509	949,416
		6,461,299	6,373,578

8.	Support costs	Support costs
	Telephone,	postage,	stationary	8 printing		43,367
	Consultancy	and professional		costs		122,280
	Depreciation					16,679
	Other support costs					621,183
	Governance	costs (note 9)				28,000
						803,509
9.	Governance	costs
						E
	Audit fee					18,000
	Tax 8 other	non-audit	fees			10,000
						28,000
10.	Auditors remuneration
					2022	2021
						E
	Audit fee				18,000	25,000
11.	Net incomel(expenditure)
					2022	2021
	This is stated	after charging:
	Depreciation Operating lease charges				( 16,679 ) (120,000 )	( 19,329 ) (120,000 )

Th	e n	umber	of higher paid employees was:
				2022	2021
				No.	No.
In	the	band	f60,001 - F70,000	4	4
In	the	band	f80,001 -890,000	1	1
In	the	band	F110,001 - 8120,000	1	1

13.	Tangible fixed assets (Group &Charity)
		Fixtures 8	Leasehold
		Fittings	Improvements	Total
			E	f
	Cost
	At 1 July 2021	16,386	94,184	110,570
	Additions	4,652		4,652
	Disposals	(6,356 )		(6,356 )
	At 30June 2022	14,682	94,184	108,866
	Depreciation
	At 1 July 2021	7,836	52,586	60,422
	Charge for year	4,561	9,419	13,980
	Eliminated on disposal	(6,356 )	-	(6,356 )
	At 30June 2022	6,041	62,005	68,046
	Net book value
	At 30June 2022	8,641	32,179	40,820
	At 30June 2021	8,550	41,598	50,148
14.	Intangible fixed assets (Group &Charity)
			Software
			Licence	Total
			f	E
	Cost
	At 1 July 2021		8,100	8,100
	Additions		9,720	9,720
	Disposals		( 8,100 )	(8,100 )
	At 30June 2022		9,720	9,720
	Depreciation
	At 1 July 2021
	Charge for year		2,700	2,700
	Eliminated on disposal
	At 30June 2022		2,700	2,700
	Net book value
	At 30June 2022		7,020	7,020
	At 30June 2021		8,10D	8,100

Investments
												Group	Group	Charity		Charity
												2022	2021	2022		2021
												E
Investment	in wholly owned			subsidiary
companies
Chelsea FC	Foundation		Trading		Company		Ltd
Total investments															1	1
The charity owns 100%			ofthe	shares of its subsidiary							company,	Chelsea FC Foundation Trading			Company
Limited which	is incorporated			in	England	and Wales					with the same registered		office as its parent,		Company
number 06924S21.
The charity has one charitable				subsidiary,			The	Chelsea Players'				Trust which is incorporated		in England and
Wales with the same		registered			office as	its parent,				Charity number 1120214.
Financial statements		for	both	subsidiaries			for the		year ended 30			June 2022 are filed with the		Registrar of
Companies.
Debtors
												Group				Charity
											2022	2021	2022			2021
											F					F
Trade debtors									177,717			680,789	177,717			680,789
Amounts owed by group			undertakings										127,083			129,202
Other debtors										32,953		89,916	32,951			89,916
Prepayments	and accrued income								349,319			694,944	349,319			694,944
									559,989			1,465,649	687,070		1,594,851
Creditors: amounts		falling due			within one year
												Group				Charity
											2022	2021	2022			2021
												E	F			F
Trade creditors										17,424		50,305	17,424			50,305
Amounts owed to group			undertakings													12,220
Other taxation	and social security								102,534			93,590	102,534			92,840
Accruals and	deferred	income						1,188,627				1,125,075	1,188,627		1,125,075
								1,308,585				1,268,970	1,308,585		1,280,440

Deferred	income relates to income received for future periods.
		K
At 1 July	2021	360,724
Amounts	released to income	( 360,724 )
Additions	during the year	219,738
At 30June 2022		219,738

Change to	the balance sheet
					As	restated
		As	previously		at	30June
			reported	Adjustment		2021
			E
Funds
Unrestricted	funds		666,100	15,280		681,380
			666,100	15,280		681,380

For the ear ended 31June 2021
	At				At
	1 July				30June
	2020	Income f	Expenditure	Transfers	2021 f
Unrestricted fund
General fund	1,530,606	4,883,182	(5,448,081 )		965,707
Total unrestri cted funds	1,530,606	4,883,182	( 5,448,081 )		965.107
Restricted funds
AntisemitismlSay no to Hate	508,518	2,922	( 321,722 )		189,718
PL Activate Seniors	7,429	88,267	( 78,734 )		16,962
PL Chelsea Champions	105,311	194,025	( 193,378 )		105,958
PL Core Funding	38,585	230,000	( 230,000 )		38,585
PL Inspires	179,966	1,890	(44,645 )		137,211
PL Entrepreneur	18,102	84,400	( 82,659 )		19,843
PL Kicks	458,430	52,300	( 199,786 )		310,944
PL Kicks Targeted	22,106	67,917	( 43,859 )		46,164
PL Football PF		15,000			15,000
PL Primary Stars	314,005		( 100,029 )		213,976
Total restricted funds	1,652,453	736,720	( 1,294,812 )		1,094,361
Total funds	3,183,059	5,619,902	(6,742,893 )	-	1,775,741

Analysi Forthe	s ofnet assets by fund ear ended 31March 2022
		Unrestricted	Restricted
		funds	funds	Total
		E		E
Fixed assets		47,840		47,840
Current	assets	2,471,117	366,705	2,837,823
Current	liabilities	( 1,308,585 )		( 1,308,585 )
		1,210,372	366,705	1,577,078
For the	ear ended 30June 2021	Unrestricted	Restricted
		funds	funds	Total
		E	F
Fixed assets		58,248		58,248
Current	assets	2,176,429	1,094,361	3,270,790
Current	liabilities	( 1,268,970 )		( 1,268,970 )
		965,707	1,094,361	2,060,068

		2022 2021
Net (expenditure)/income for the period Adjustments for:		(482,990 ) (681,378 )
Depreciation charges		13,980 19,329
Amortisation charges		2,700
Decrease/(increase) in debtors		905,660 831,042
Increase/(decrease) in creditors		39,615 (2,052,577)
Net cash provided by operating	activities	478,965 (1,883,584)