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|||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|
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||||||||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|
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|||||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|
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|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|
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|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|
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|2022|2021|
|---|---|
||f|
|400,481|1,539,890|
|400,481|1,539,890|
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|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|
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|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|
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|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|
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|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|
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|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||
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|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|
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|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|
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|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|
##
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|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|
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|||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)|