C(mp nwnbw. 06858117 {EWand #nd Wales) Charity number. 1129723 Chelsea FC Ftsundabon nual •nd clIda1•d Flnandal Stal•m•nts For th• Y••r End•d 30 JUD• 2023 ¥ACY)8ECX4 QW0312D24 cCPANIEs HOUSE A11
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Chels•a FC Foundation (A Ccmpany Limited by Guarantee) Contents Pag• ReL of the TreeS lThleFndent A•t0. Reprt 6-9 CC8¢11daled Sktement ol Fin8rrti* A¢1p1"¢$ 10 Corwlidaled Balance Slwet 11 Chwitable C(¥npany arKe Sheet 12 Consolidat¢d C8sh Fkw Slatunent 13 Not•s to Finarttial Sta{ents 14-28
Chelsea FC Foundatlon IA Ccmpany Limitad by Gu¥arrteel R¢port of the Trustees For the year ended 30 June 2023 The trteeS are pleased to W0s0nt Iheir trusl¢¢s' rep¥yt t8 ilh the wnsolklatsd finandal statements of Chelsea FC Fourh4aliM (the Charity) for the year eiled 30 June 2023 vhmch are alw pryrJ lo meet I quirements for a threcl(xs' r8p(rt and Ccvnparoeg Act The conlIdated finanLY statements have been wepwed in vfilh the accfjuntiry polioes sel out pages 14 10 28 crf the attached nSol1dat9d financial sLilements and ct¥np4y ith Ihe charis MemorarJum and Artides of Assctialion, ¥F41cae lavts arKJ the SLeJwl ol Re(nmended Pra(ce.' Accounting and Rep)rting by Charilies (the SORPI appli¢•L4e lo tharitse5 weparing lhr accounts in accord Vith the Financial Reporb'rvj Stsn¢Jèrd applicae the UK and Rerthlic of (FRS 11r2) arn1 Ctynpares Act 2006, effecbve fr(Yn countsng Feriods ccfflmenang 1 January 2019 or ler. Struc1. Gov•rnan¢o •nd manag•1 Govemlng l)o¢ument Chelsea FC Foundab'on is a ccwnpany liThHled by e¢. ty ils and Artides crf AssocIatn dated 25 March 2009 and ended on 25 Janry 2011 and 16 August 2018 and 20 May 2022. It 1$ registe as 8 ch8Fity Kilh the Ch'ty C(wnrnission {regislered Nmber 11297231. Appolnlm•nt ofTwst•es As $8t out in tho Arlides rfAssoryaion, Tnth are invited toic#n the Board. Chdsea FC Hcldin9s Limited (Ihe IUD,) cao appoint up lo ihree Tfte On appoinlment, TrLtstees comFdete 8 re9isler cl irtwe5ts aThl new TrStee$ vlim undertake an induclion FxrJramme that indudes fan111arfi0n ith the purp)ses and operation cl the Chwity. its strategS and its objeclive$. T0 Is a IrainFng programme for Trusiees and Trustees we to ttMI wopYiat¢ exlwnal tr•nirvJ events 1¢ assist them in the undwtaknng of tsir rde. Organlsatlon The boa d Tnjstees. thich shall irKJtyJ• no th•n Ihree rnwnter& athynister5 th& Charity. The rneets al four times 8 ye8r. A Head of Fourklab¢ffi 1$ 8twinted by the TnleeS to manage the day-t op8rations of th• Charity. To faalit818 effectNe operatio, the Head of Foundation has delegated autlrrfity. wilhin lem$ ol ddegatbon approved by the Trustees, for CVTatiI mattgrs indudiTr3 ffinance. empbwmnt. athjcation aThJ sport related activity. Subsldlary companles The Charty has ce irliNJ swbgdiary. c15a FC Foundat Trathng canP Lmniled ffCL) and one chwitaL40 subsidiary. The Chdsea Players. Tntst (CPT). Any gwwatsd by the xtNities of the tradiry Adi8ry is dtyw¢e(I to Charity. R•lat•d Partles The Trust•es considw that th8 Club aThJ its &>diaries are related pallies of Ihe ChtY. In addition to this. as thg parent conpany of Chdsea FC Holding Limited the Tntstee's con&der Blueco 22 Linited as a conntcted paty. Rlsk Management The Tnjslees have a duty to itsntsfy and reviewthe risks to the charity is expced to ensure •Foropriat8 controls are in plac8 to provide rean¢ assur•Ko agwnst fr4 and error. Trust hjve assessed Ihe rnaior risks to vthich the Charity is exposed. VAth partKdar attan¢i lo¢usad on Tr>vfinarJ risks 8ri&rvJ frc¥n ofking wlth young tffjjle. A key in tr mwww)t offinanc¥al risk 1$ the setting cla rJar th1 the managemont t80m.
Ch•ls•a FC Foundallon {A Company Liffliled by Gu¥anle81 Report of the Twu5t•¢s For the year ended 30 June X23 Head ofth• Foundatlon Report In a period d charoe the Foundation on¢¢ again knpd its adaptsblty. Ttr stroNJ 9wgmanca structures in place allowed a Snooth transtion Idlov+iry ts apIntment of nth¥ dub representstives onto the t)ar¢l of Trustee& We were d•lighled to welc(¥ne director5 Barbara Charone and Lryd Dan Fiein to Ihe Foffidation and to aFvoint Ltyd FineSte1n as the Ftyjthlron. The Foundalion is also 9181eful forts backwwj frtyn the ovffierstrmp group have dernonslr8ted their Commitment to our commurwties ltrwh therhe gJp&x)rt of our Their 5UPWt is rKM alloing the Foundati lo ueate a rar4Je d new. inrKwNe prryrammes. usiThJ the of swt to inwre educate and motivate. W¢ also delighted for Ihe conlinued supp(Mt lo p¥tws many d wlKm hwe 7Avrk•d on n•w and ex(ity"ng inthatives for COMM1.8$ at hne aTrJ ald. This adaptabilty has also been evident in our woJr74nmes and delKJhted to announ a new groundbraaking strategi¢ partnership th Impwial Cdlege Htsaltlre NHS TrSt to exine InnatiVe v•Y& to use the power of football to prOte better Wth in our mmurlies. Througfr1 the sea have eng&3ed lens of trU5nd of reop ol all ages arKI backgrounds in a range of prograrnmes. W• have introduced a range of iMCNative prqects to em[th female players. indvdirvj the lafwl everccrfnrTWtment to engage S(MJO prirnary SC and giviTrJ Irrst expeiiencs of fwtbaN as ¥11 as prcwiding •mporin9 educaticffial se55ions iN111r# body Djtdence wwj resilien. We are proud to be conlinuiNJ to %)rk V•ith fans, g)Ile•Js and communibes to highlight the ptive ex8mrAo8 of dhergty at Chelsea and the C¥)ntribubC that peoF4efrfyn dierse back$ hwe maje to the our Club. un9 leamiThJs from initiabves as M) To Anlisemitisn TAB 7AiII the to erw moro c<mnunilio$ to Und8nd the barriers may face and to th ith ihun to create me opwtuthes to both play and wal¢h football. There is still a grgal of th lo do trwjt there can be rK) d(thirg the ccrfnmilment d Ihe aThJ Chdsea Fndation to create a both a diverse dub and vider game arKI lo develop ¢(xnmunibes that aro op. indusNe and 1C1rj to As part of th1$ commitmenL honcwrnd to be the fitst ever PreThMer Lea9ue dub to 1xt an Open Iftar invrting 250 memb&r of our local Musl'm Cunmwty to L¥eak Ir last dng Rnadan aThJ enp3e in thai03 Vilh fans and ith cOlagUeS from across Il club and FrAlati. To charlge the culture and increase rewe5entation dl Ihe pitth are now treating a rnrYJe cl new opportunili8s. Our work with the FA to pfornote opportuThtres for coaches frcrfn wts.represent&J groups continues and our p¥rtn¢tship th Black CollectNe cl Media in StKxl (BCO•ASI has I10•d asFxring S joumalists to undertakè their NCTJ quaifications. A new ptrrship ¥bith Versus is now ¢tiNj coportunilies lor urder preSented rLJmmunities in the ueative indvstries, PTovAlirwJ bursarie5 Iwo yOLWV4 pewe to cle prqecls to Increase their portlolios d work and receive mwrttying frun trJth O1[110r. As industry leaders. we hontyjred to be irwiled to sho1 ow at the UThled Nalwx and delighted to join the Government, FA and Premier Lew in GefflHny on an educatiOr lour to look at exwnples d besl practice in equality. cc#nmwNty agtht indusAin frL¥n 5$ the BurMle51iga.
Chelwa FC Foundatlt)n {A Company Limited by Guarantee) Report of th• Trnste•s For tho yoar ended 30 Jum 2023 FinKially the FouNlation 1$ in a strcffjg tion ith reStried resep4es in excess of the Fevel sel by the Trustees. The Trustees and Sen1 leadeTslNp ill be 7ADthing on pro[1$ to uffise Ihis surpjus to enhanGe w community lo¢ussed and fre8 to programme5, n9 tt¥'$ 3t a5 a force fty gxd. Simon Taylor Head of FJrIatIOn Fin•n¢il R•vlew The rèsults for the year 30 June 2023 S)W a surplus 01£1.580,229 (2022 defiiit.. £482.WJl. Totsl inc(ing resour¢e$ were £7.678.450 {2022.. £5.978,3091 and totsl rescwrtes expended wre £6,101,292 {2022.. £6,461.2991. The underty?n9 activity has continued to qyeraie frcrfn a stIj financial base throwh the hard of thg FoLmdalion staff and the 0jnlinld support fr(yn our partners. This has strer4Jthened further by the lundiTrJ that has been provided by UecO 22 Limiled. Donated S•r¥l¢¢$ The Charity re¢tyves frn tr Gub and its ¥Athdiaries to eXl that support fUnon5 pThided free of any chwge. Invesbn•nt proc•dur•s and policy Al the present lime the Chdsts FC Flxmdth has tsken the decision to not hold investments. The Tnths have th8 P)w to revise Ills ption as tsy see fiL as sel in thg orandUm and ldeS of Alat)n. Re8•rw•s Pollcy To be able to cover all ctyrmilm¢nts the Foundation's poliw 1$ lo hdd unreslrided of b8lBen £0.8m arrfl £1.2m. Tlws revimd arwj re¢firmed by the Trustets on 8th M¥¢h 2022. Trustees conder free reserves to be the UnrestriCj reseNes of th• clwity, thich have a suryjlus at tho yoar•end 01 £2.389.55112022.' £917.3731. This level is abo4e that agree(l in the res¢Nes Oicy aThJ the Trustee's and senior management team are currenuy rv4i•bing prr>Jrammes that the addifion r&ser¥e5 can be designated Imrfs. Please see nrth 21. Th?finatKial statements have been prep¥8d on the corwxn bags the Intsl¢•s Wiwe to t approw8te. See We 1 ftyfurth¢r dell
Ch•l$Èa FC Foundation (A Company Limited by Gu1¢0) Report of th• Trust•o$ For th• y•ar ended 30 June 2023 Reference and AdmlnlstratSon O•talls Registefed company number 0685817 (ErylaMI •MI Wales) R4istered charity nMber. 1129723 Reglslered offr£: Dlrnctors and trustee$ The dire¢kn of ths ¢haiil¥bl¢ ¢onpany ar¢ its Inte¢s fry pjrpose of thawity law. Thè trustees and officars s¢rvirvJ dwiThJ the year and since the year end ere as follry••%" Lord D Finkelstein OBE (Chairl EC Hayes OBE P P¢)war P Ramo$ Rt Hon Sir Rotertson KCMG DL B Charc 'nted 08 Fetyuary 2023 Appjinted 08 2023 Company S•cr•tary Muckle Secretary Lirnit Kty rnanagomont p•rsann•l The key managtyn$nt perso¢1 ¥Ke non4xtcth thredtys of the oryonisalim: they arè rèsponsble for the doy-ttrdgy managwnenl charity's actpiibes.. Hgod of Fo811. Head of COMMlty.. Inlemaliond DeVelOpent Manager. Hèad of Community Prr)Jarnmes: Head of Football tYeveloFment Head of Edu¢alion & Inrv4abon: S Tayl SGM I Wcojrc P Hastings D Jacqu•t S Gaskin-Kwnp Barclays Pall Mall Cwat• Bankityj Contre 50 Pall Mall London. S¥V1A 1QA Solldtor Muckle LLP 32 Gallovffjatè Newcasue Upon Tyne. NE14BF Auditor Haines Watts North Ea# AJIt LLP 17 Queens Lane NeKastle UF*Jn Tyne NE1 1RN
Chlso4 FC Foundallon IA Ccfflpany Limited by GL4Wtee} Report of the Truste•s For th• y•ar •nd•d 30 June 2023 srATEMEKf OF DIRECTORS RESPONSIBILrrEs Th¢ trustees (who are also irectoTs d csea FC FLwThlation for ts purposes of cnpanY lawl are responsible for preparing the Diredors. rgp)rt ar the firhanci81 Sts18ftts in accordwKe vitth appbcaNe law aThJ United Kingdom Accounting S18rhdards IUnit¢d KIngdn Generalty A¢cepled Acc4xnts'ng Praclice). Cornpwy law requir¥s the tnts1 to pYepar¢ fir1aal stal•n¢nts for uch finanoal th1¢h a trne and f•r vrtw of the stale of aff¥irs or the charitatjle company and crf the IncnIrj regjurces and application of reKJurces. irKlu(ng the incune ènd exp¥Ilure. cl the cclnpany for that peiiod. In pr8paring these finanrAal statements. the trustees are required to.. select suilable thxoJntirvJ porleS then apply them conststently.. observe the methods and prinaF4es in the Charitie5 SORP 2015 (FRS 102).. make1ud9ts and estimates that * reasonabjè #nd state Vh•thèr applicab UK Acl1ft9 StaThJarfs havo been fcloed. xtie¢t lo ary rnateri departu isdosed and explained in the financial statements", prepafe the statements on the sK•ruJ Cl basis unless it is inappropriale to wesume that the ¢harilabl¢ Lx¥npany 711 c¥)ntsnue in operalim. The trustees are responsie for keeping adequate ac(>1 recdS that di9Jose ith 8¥Inable accuracy at any lime the financial position d Ihe charitae company enable them to ensure that the financial staternents GnPlY th C(mnpanies Ad 2006. They 80 also respon&We fty safeguardiNJ a>yets of the charil8bbg 0)rnny and hance rea50nat4e steps for thg preventi aThY detecti( d tra1 and other 1rTwultieS. So far as each of the trustees is awe at th time the l]rt rs approved: there is no relevant audit irrfolmation cl wlM¢h the iarrt>le c4Jmp8ny'5 wjdilors a wawrdre, and the trustees have taken 1 steps that they 0h¢ to taken to make themselves aware of any relevant audit informlon WKI to establish that the authtots ware of that infcm)alion. This iepxt was approved by the .
. 2024 and on its ttro11. ty. Audltors A relutiOn lo appoirrt aLtdilors for the engjiro year V•ill be woposed at the annul ggneral meeb'rvj in line ¥th the ¢hariWs psioes and in accordwc ith sedion 485 C(¥npanie5 Ad 2(K6. rtvms approv bythe trus on. ........ ............ ".3. 2024 si on its behaw. by: Lord D Finkejslein 08E Chalr
Ch•ls•a FC Foundatlon (A C(ynpany Limiteij by Gu¥8nte81 Indop•nd•nt Audltors. R•port lo th• m•fflkn of Chelsea FC Foundatlon (ConlA For the year ended 30 June 2023 Oplnl We have A111•d financAd statements crf Chdsea FC Fwxltifv Ilhtr '¢h#lle cunpanY} and its subwdi8ry {tr 'group'l the year ended 30 Jurte 2023 wthtch cx)mprise the Statement of Fir81 •W"1V.0$, Group Balance SI81 and Ch¥ri1oble Crmpany Balance SW the Cash Fktyw Ststwnent and r¢0$ to thg financi staternenls indudin9 a summary of signrfunt accounliry pJlio¢ Th¢ ffirwKial rep)"n9 that has been appliad in Iheif preparati¢Jn is 8Wicable law ¥r#J United Kirydom A(£4)unlirvJ Standards. induthng Finanryl Reportirg Standard 102 The Financial Rèpong Slandard appliGats in the UK •nd R&puW¢ ol lTrlJnd (United KiJdOM GenerallyAccepted ACCnI1J Practice). In our opiryon the financial statement&. give a true aThJ fwr view of the state d the gr<wp'$ arKI ¢haritat4e cthmpry'S affairs as al 30 June 2023, 8nd of the group's In¢ing resources ¥ThJ applicatic of 18sous. indutiThJ its incune PendIture. for the year th ended," have been properly prepared in a(zordartt wth Unl1 lfjngthjn Generaly Accepted Ac£owrting Pracllce: ond have been prepared in att0rdare Ihe reqUIents of the Ctynpanies A¢i 2(rf)6. Basls for oplnlon We cond&ted our aLJit in accordance ith Irerri staThjts AJ)Jling (LKI IISAS IVK)) ond apF4icable law. Our r&spongbilities under thos¢ standaS are further desuibed in A10<$ r¢spons.1rtIeS for the audit of the ffinanc4al statemenls se¢tion of our rerth. We are independ8nl of charity in accgydan¢e Voith Ihe ethical requirements Ihat are relevant lo our lt ol the finKial statents in the UK iLK11n9 FRC'S Ethical Standard. ar have lfilled our otrr ethicd respongtmlilies in accordance wth these raquir¢m&nts. We beli8ve that the alIt evidence have ot1a1j 15 5uffLoerrt ¥#J apprwiate lo wovide a basis lor our c•in1. Concluolons rnlallng tr• gothg conc•m In au(litsng the finanual statements. ¥4E have conduded tlwt tl tnthos. use of the g(xr¥J 0Cern basis of accounlir¥J in the prepara1 d the fal statements is appTopiiate. Based on hwe pgrfonned. hwe Th)1 idenbfied ary materi wrIn&S rnlating to evonts or )nditions Ihal. individually ry (yJle¢bvety. may east ssiwficant bt on the ¢tsitie5 aknlty to ¢tin as a going tr)ncem for a period of at least mth$fr(M the finan04 W¢menls are authorised for Is5. Our responbililies and the resp(Thibilities of the IteeS vAth respttt to witvj (¢¢M ore dewibed in the relwant sKb"ons of trms report
Chelsea FC Foundatlon {A Ccrnpany Limited by GL4rante8) Independent Auditorn, Report to the m•fflkn of Ch•ls•a FC Foundallon IC For the year •nd•d 30 Jun• 2023 other inforniatlon The trnstegs aw respolb18 for the other infonnirffi. The (ther irrformallon oThwises thg infom8li(ffi ircluded in th8 tru$t¢¢$' annual report. other than the fin1? stemths arKI wr wd1$ lherer. Our opinion the financlal statements loes not cover the ottw infomiatKffl and, except to the extent othern expliriuy stated In our report. we do not oxpress any fomi of assurar condusion thereon. In cnectIon th audit of the finanual statnents, our SpsibIlIty is to read thè othw Irforniat and. in doirwJ $0. considef Vrtther the other inforrnabon is materialy Ir1)nsIstenI ith the financiol stal¢m¢nts or our knovAedge obtained in alIt othwise apFears lo bg materially misstsled. W identify such malewial ineonsislencies or apparent material misstatements. are reqd to deterniine thera is a material mlsstatemenl in the financial slalements or a material rnisstatement of the other irrfoffliation. If. based on the vDrk we h8vÈ perfomied. % c(ffldude that the is a material missialement of th"$ oth&r infom8bon, vo are require(1 to report that facL We have rthI Io ffjF#>t in IIMS rryard. Matters on whlch we ar• r¢qylred to report by exception In the light crf our knovA8dge and understsrKling of the chtieS aThl its 0ined in (urse of Ihe dil. have rK>t identified rnalerial misstatements in Ih? tmste8s feFtst. We have notling lo reryi in rwe¢t of Ihg fc4ttrhiNJ mattws in r¢lalh2n to ThKh the Charilies Act 2011 requires us lo report lo you if. in our opir40n". adequate accounting reo)rds have not been kept. (Y fdn$ adewatè for w audit hwe nat been receNe¢J from branches t visiled by us.. or the financial alemenls e¥e not in agwnent ith the acc(Amliry reconls ar#1 relum& or certain disclosures of threctors, remuneraticfft by la4¥ are Th)1 made.. have not receNed all the infomiation ar eXana11$ w¢ wuire fty our a$t., or the trustees were rtot enliued to prepare the statnents in XCI)rd Vilh trt g7)all rgynponles. rngimè and lake •dvwtsge gl Ihe ynall c4xnpanies' exernpthjns in preparifyj thg thrg¢ttys' report and from tho rqertt to prep¥e a strategic reFrfMI.
Ch•lsea FC Foundati¢)n (A CL¥npany Limited ty G(wantsel Ind•p•nd•nt Audltors. Report to t mwthrs of Chdsoa FC Foundatlon {Ci¥thv•d) For thè yèar endèd 30 Junè 2023 Ro$pon$Hliffj•$ of lrnste•s A$ explained fully in InJ5tee¥ responsbilities ststwnent set on p#yo 7. the trustees a responsible for Ihe prgparalion of the finarwl statements and for satisfied that itw s¥ve a true ar fw viow. and for such intemal contrd as thè trustées dètèrmine is nècessary tr wepwalion of financ¢al statements that are lrne from malwial Th$statenL VAr du8 to fraud or wror. In Preparing ihe financia statemenls. the trLtsiees are resls1te for assessiThJ the thare$ ablily to contynue as a going concem. disclosng, as aOicable. maters related to gc#r¥J conrn aThJ usiry the g)ing eowm basi$ of acnting esS the tntstees ther intend to liwidate the charitable CoMY or to cease (Wall5. or have no rèalistie #liam8ti¥e lo do so. Auditorf$ re$pon$itiiMie for the of the statements Our objecaives are to obtaln reasonable assurance about %thether the finanraal statements as a Whle are fw frtyn rnaterial misstatemenL %thether duè to fraud or eOr. aThJ to ISS an aLKlitorfs report that indude$ our opnion. Reasonable assurance is a high of awrance. tArt is a guafantee that an audil cldUcted in acc(Mdanc• %ith ISAS {UKI will thays d•t•d • materi misstatsmant it axisi$. Mtsstatements can arise from fraud or error and are ¢on$idered m8lwièl rf. individually cy in 499•te. cwld $¢nablY be expectod to irffluenca th8 économic t1È¢4$0ns of usern taken the b5 of IFEse finwKi814•tèménts. Irregularities. i1dIng fraud. are instances of non-comF4iance tmth laws aThJ reglatIOnS. We design procedurès in line with our responsibilithes, jIned above. to detecl matla1 misstatements in Pect ot irregularib¢s. iwKluding fraud. The teA1 to vthith procèdures arè capable of dètecliry irrÈgAarities. indudiThJ fraud. is detailed below. We obta.ned an UèrstaThlrt9 of the legal and regufatory framevnrk 8pplicat4e to )th the charity itself ld tho industry in htch it operate5. We Mlentified ar&35 of laws ar regulations that could re¥x>nably bo exp8¢t¢d lo have a materia effec on the finarKTral slatements from our sector experiwce and through dis¢ussion Vith the Iwstees and other management. Tho most sgnrficant re identified as the Chaiitie5 Ac 2011. UK GAAP IFRS1021 and relevant tax legislation. We consdered the exlent of c.3ftCe Vlith those la and reguLations as part of c4Jr predureS on the related financial $totty))¢rts. Our aLKlbt W0ced induded.. mthing qUireS ol tNstees and management •$ to Ire to be a suxgptibility lo fra1 aThJ vthether they have any knovAedge or swpicion rA fraud,. obtaining an understandiThJ of the intema rThbtroJs estalAId to milwe risks ffj141od ¢0 fraud or r- compliance with la8 and regulati¢)ns: reviewng the minutes ol me8tin9s of Iho8e (*oryd Thith yemxe: Jssessing the risk uf marwenl (Nerride induding idenlrf>ryng 8ThJ tesb.ng jOUff01 ¢ntries: and confirmthon received thredty from thg banks to vuify the at 30 June 2023:
Ch•l$ea FC FoundatSon (A Compary Lirnited by Guarantee) Ind•pendent Auditor5, Report to the of Chelsea FC FOdll¢n (Cdj For the year ended 30 June 2023 Our audlt did not idenlrfy any key al11 mallers rel8tiNJ to It dete¢ticffj rf irrewlawities induding fraud. Hmver. despite the audit Ing plamed and COn(th in accLYdance ilh ISAS (UK) there remans an unavoidable risk that material misstatements in th& finanaal statnts may bo deth l¥j lo inher¢nl limitations of the audit. and Ihal by their very ture. any such insl8n¢es of frJ ty irre9arity lik irwce cdlusion, Itygery, intentional misrepr&%entation5. or the erride of intema c(¥rtrol& A fUrtr description of r resw>biles f(Y the •Jdil of finan(xal swements 15 kncaled on the FanCIal Repo¥ng Countyl's vte at.. w¥hv.froorg.uk1alt(mSresw5lb1btse5. TIMS desrAiplion fomis part of our auditorfs Ust of Our Report This repcrft is made %Jfdy to Ihe charities tntstees. as a trKAty. in ncE ith Part 4 d the Charitses Regulations 2008. Our audil vth has b8en dertaken so that * mi9N Slate lo the ¢haritstrk ctynpanls memb&ts those m•tters we are reqiired to Stale lo in an auditorf5 retrtxt and for rn rAhef purpose. To lulle5t exlenl Ferynitted by law, do not act%pt assume respongbility to anyone other than the charity the tharities trustees as a bjdy, for ow outht ¥th. for this r¢tw( or fLY the opiTh(Ms Vo havo f(med. Donna Bulm•f BA (Honsl ACA (Senlor Stalulory Atsditthl For and on behalf of Halne5 Watts .?.%..hb.fLiory ..Zo.ILfr Charternd Accountants and Statutory AuditoT$ 17 Qu$en$ Lane NeKaslle upon TJ NE1 IRN
Ch•lMa FC Foundatlon (A Ccffnpany Limited by Gu¥lee) Consolklated Stattment ol FI¢ Adlvltles tht cr%(4d¢ IK(one •nd Eynd*ur•Accourt) Forthe y•ar •nd•d 30 Jun• 2023 T¢Aal 2022 lund$ fvnds 2023 Income from: Donations ' Charitable activities FundraisiNJ inojme Investmwrt ingjne 1.110.6 4.287.303 98.275 1.040.040 2.150.730 1.115.763 5.403.066 98.275 400,481 5.396,273 181.555 Tolal incom• 5.522.603 2.155.803 7.678.4LIS 5,978,309 Expendltur• on: Charitablg acb¥itie5 4.404,425 70272 1.623.481 6,09B.178 6.461.299 Tolal •xpwdlturg 70272 1,623,101 6,OQB.178 8.481.2 Net movement befor• transf•rs 1.118.178 (70.272 ) 532.322 1.580.228 { 482,91 I TsIerS tlen funds 21 354.000 122.SLY)1 1331.500 ) N•t mov•mÈnl in funds 1.472.178 I W2.772 200.822 1.580.228 1482.990 ) Re¢on¢iliation of funds Totsl lund5 bTougM fcThwd 917.373 293.iIMJ 366.705 1,STT,078 2.(60,068 Total funds carrl•d 10ThId 2.389.551 200.228 567.527 3.157,31 1.577,078 The regJlts for the yew dwive frc¥n activikn aThl there are Th) gairys or losses other than those Shown ty)ve. 10
Chelsea FC Fowdallon IA Cc¥npany Limited by Guarantee) Consolidat•d 8•lan¢• Sh••t As at 30 June 2023 2023 2022 Flx•d ass•ts Targible assets Intaryible 8ssots 15 16 43.919 15.696 40,820 7.020 59.615 47.840 Cunent assets Deblors Cash at bank and in haTrJ .596 3.867.294 559.989 2.2n,834 4,317,890 2.837.823 Li¥bilities Creditors.. amounts fallir¥J due wittrun one year 19 (1.220.199) (1.308,5851 Ntrt CUnI us•ts 3.097.691 1,529.238 Total as$•ts bss ¢urrnnt li•biliti•s 3,157. 1.577,078 Total net assets 3.157,X6 1,577,078 Th¢ funds of the charlty Unrestricted funds Dgnated fund5 21 21 2.389,551 200,227 917.373 293,0 2.$89.778 567,528 1210.373 366,705 Restrided funds 21 3.157.306 1,577.078 These financial statements have teen rryared in accx)rdancè ith prty1$C owdtsble to ¢cmpanie5 subj8Ct to the small componies regime. TMfinanc4 ststements apped by the Board of TnleeS on ... signed on its behalf by.. .. 2024 Lord D Flnke13tn 08E Thè notes on pages 14 to 28 forni part d th•se finanoal slatmn 11
Chelsea FC Foundation IA CoMpY Limited by Guarantee) Charlty Balanc• Sh••t As at 30 June 2023 2022 Fixed as5•ts Tangible assets Intwgible assets Investmènts 15 16 17 43,919 15.696 59.616 47,841 Curr•nt a58•ts Oebtors Cash at bank In hand 18 451.088 3.601.813 687.070 1.870.311 4.052,1 2,557.381 Llabiliti•s Creditors-. amounts falling due vrithin ce ye¥ 19 11.245.942) 11,308,585 } Nal eurrènl 2.806,959 1.248.796 Total assets le$$ eUTrent liablllll•s 2.866.575 1,296,637 Tol*l net assets 2.866.$75 1,296.637 lunds of th• charlty Unrèstricted funds Dgnated funds 21 21 2.098,820 200.227 636,932 293.000 2.299,047 567.528 929.932 366,705 Restricted funds 21 2.866.575 1.296.637 Th8$& financial statements have been prepared in vAlh the wlS1On$ •pliCae to ctynpanies ble¢1 to the small compar¥es wme. The financial statements approved by the Board of Tntstees ... . . gned its beh¥W .. 2024 and vwe D Finkelstein 08E 12
Chel$•a FC FOdlOn (A Company knmited by Guarantee) ConsolSdat•d Stat¢m•nt of Cash Flows AS at 30 June 2023 Cash Ilows from 0ratIng actlvltS•s: Ca$h g8neraled fron operatims 1,595,795 478,965 N¢¢ pmvAd•dby¢)pr4Ung a¢Uvlrf•s 1,595,795 478,965 Cash flows from Inv•sting acll¥ltkn: Pur¢hasg of I1b10 fixed assets Purch ol irttsngitye fixed asset$ PrdS of sale cl intangitA8 assels Interest re*ved { 32.670) (4,652 ) (9.720 ) 8,100 ¢•sh used In investlng •cUvi¢ies { 6.335) (6.272 } Change In cash and cash •qulvalents In the y•x 1.589.460 472.693 Cash 8nd ¢•sh WUb¥denls at lh& b¢ginning of y 2.277.834 1,805.141 C•sh and cash •qulvthts at th• end ofth• y•ar 3.867.294 2,277,834 CMh and cash •qulval•nts wjnslst OP. Cash al bank and In harwj 3.867.294 2,277,834 13
FC Foundatlon IA Ccrfnpany Limited ty Guantee) Notes to the financlal stateThents forth• y•ar •nded 30 Jun• 2023 1. Accountlng polldes Chelsea FC FwndaIlL is a private company limited by guarantee {Cornparyes House No. 068581171 and registered Charity (Registered Charity No. 1129773). 11 is iN>xporatèd and dMI¢ed in England and Wales. The giStered office is Stwnford Bridge. Fitham Road. L¢(kn. SW6 1HS. UK. The prirripd actNities ofthe Group and Charity are fflentKJno(l in the Tn1889, Report. Tho fdloryng aCrJn9 poloes h8vè boon aprft¢d in dgaling Items thich arn considwed malewial in rdalion to the (0'S finants statanents. 1.1 Basls of pr•paratlon of finandal statom The finanoal StatentS hwe ten prepared in accudarKe wilh Acc¢Mling and Reporting by Charitigs.. Statement of Rel)rnended Pracce alcale to thrities weparirrfj thw"r axounts in accordance wth the Financial Rep(yliTrJ Standard appli¢atye in the UK aNI Rewblic d IrelaThl IFRS 1021 issued in October 2019. the Finanoxal RepoTtiThJ Standard Fvk'calJtr in th¢ unit arwj Repthlic d Irdand (FRS 1021. the Charities Act 2011 aNI UK Generally Axept&J knnting Praclice. Chelsea.FC Fo(ThJatJn meets the defiThtion crf a puNic tenefit entity under FRS 102. Thè finanLial stat•m8nts ar• prepargd undèr trwsior cost convention LY transactson value unles5 Otherwise Staled in the relevant ac¢(wnts"rg psicy rx)lelsl. The finala1 st2ternenis are pPa in Sterling which is the fundional ¢urr¢n¢y d Ihè ¢h•rity ond to th• n•arest £. Th8 signrficanl pol(yes 4pplied in preparation clthese financial statements are set I[ b810w. These li08S have teen consistently ied to 1 years present1 unle55 otheThbi$e stated. 1.2 Basls of consolldatlon These consobidated fjnancia siatements oJnKlidate the res of the Charity and its Vholly 9Jbsldiary und¢rtaknng5. Chdwa FC Foundabffi Tr4din9 Company Ltd aThJ The Chelsea FlayeTS' Trust on a line-by4tne basis. A separate Stattynent of Firwoal Actvi.¢$ ar¥J Iftce aThl ExpeTrJilure Account for the charity has IKJI been presented because Chelsea FC FoLThl8liM TraditYJ Canpany Ltd and The Chdsea Players, Twusl 1.3 Going concern The financial slatemeTrts have been Pfepared on a gOIj concem bass. The ItUStees have reviehspd and (x)ngdere(I relevant irrfoffnè1i, ind)Ing thè annual bts in maknng their assessment. Based on these a$s¢mnts. the incftrased levd cl for the a1 8(Jditicfflal funding avail8 Ihe trustees have conduded thal can contirwe to adcpt the ¢xwKem t1$ in preparitw the nOI rep1 and 1.4 Fund accounting Unrestricted fund$ can be used in 0]IdaTh ith the iwi"Lth ¢)tr4'eLvie5 al the thscffjtl of the trust. Designated funds comprise unrestricled lund5 Ihat have been set asde by tho tnJstees f¢r parfi¢iAof purposes. The aim and use of each des1Wled is set (xrt n Ihe notes to finwwl slaternents. Restricted funds can be used fN partiudar restri puws speufied by the doTKW or when funds aro raised fcff particJJlai reslricteil purposes. Furiher etynati d the Ire arwj ol eath Iw)d is induded in the notes to the finanry statements. 14
Ch•ls•a FC Foundation (A Cornpany Lirnited by Gyarantsel Note$ to th¢ finn¢ial $ts1oments for the year ended 30 June 2023 1.5 Incom• l inccffling T&rCeS arn included in th8 Ststwnent d Finarwl Aclivilies thg charity is legally enlitled to the income after any portlarKe ¢ttwthbons hwe twn m•( th• can be measur•d Mliy arwj it is probabl8 that the irKcrfne be reCed. Income frcth charitatra aetivibes ir£the (ttei¥•d eontracl or entitl8ment to grant funding is subiecl to speufic pwf0Tmce conditsons and 15 recwr¥5ed as eamed. Grant incCe induded in this Category prIdeS funding to supwt perfonar activities and is nised thhere there is enb'llemen( certainty of receipt arKI the OUnt be measured with rea9)nable cwtainty. Income recaved to delr¥er services ovw a moo Ihan year is aClted for over period; r•loted is accnted iFKurred. For dcx7atits to be recryJnis8d ts ¢harity ill hw¢ w¥)tiffftl d thg and the tlement dale in VKIIINJ. Fixed 8sset gft5. in are TecrMJrised kn receNabbe and are irKJjed at fr vdue. They are not ddeThed over the life of the asset. Interest recwvat4e on funds held deposit is ir tn receNatAe wnount can bè measwed reli¥tdy by the tharity, this is nOalty Th)tifi(ion of the interest paid ry payable by the baw. 1.6 Exp•ndllur• and Irrecov•rabl• VAT Liabilities are reco9Nsed as expwKliturn as soon as there is a legal or construthe oblwaiion committing the charity to that eXpdItUre. it is Fossible that a transfer of ecorJmic bets 11 be required Éft settlement and the amount of the obh"gation be ffleasu reliatly. Expenditwe is accoted for on an a(%nJals basis and has been ¢18s$ifd under headings that aggregate all related to the categyy. Where costs Car01 be direcuy attributed to parf11ar heathngs Ilw h•¥te bw alb2ted to activibes a basis o)ngsienl Vith th use of resources. Irro¢overablo VAT is th•rpJ against c4>51 against the eKpwdrture wa5 ifKYmd. 1.7 Allo¢atlon and apportlonmwt of c45ts Support eosis ar¢ tknse fun¢bons thi¢h assist the of the cwty but do n¢1 direclty undertake chaftlatrAe activities. Supp1 Costs indude office co3 finance. payroll ¥¥J eMarKe costs which wpport the charity's PfO9ramm¢$ and aLvtss. 1.8 Tanglble flxed assets Tangible fixed ass¢l$ art slated at L¥ (or deemed o)511 ty valubtion kn ar¢umated depTeci¥tion and acwnulaled Impalm 10$5e5. C05t incrJeS costs diT• tribulable lo maknThJ the asset capable of operatlrwj as inleNJed. Depreciation is provided at the folloirwJ a)r¥JaJ rates in rthr to te off eath asset over its eimated usef lrfe. Fixtuw & Frtiir Leasehold Improvements 10 years Fixed assèts cosliThJ less thon £SOO art not ¢apWised.
Ch•ls•a FC FodatIOn (A Company Limited by Guaranteo) Notss to th¢ finan¢lal ststtm•nls for the ye•r•nded 30 June 2023 1.9 Implmienl of fixed assets At exh reporting end date, the charity revie the am(wJts of its IwwJitle a5$0ts lo d¥t•miine V•ttether there is any indication that thxe assets have gjffered an wnwmient loss. If Y SLth indication eSiS. th8 recoverat48 oUNt of the asset is estynatgd In rxder lo detefflii ts extent of the wnpaimienl loss lil any>. 1.10 Oebto Trade and other debtors are recogntsed al the settlemenl amwrth due after any trade di5w offered. Prepayments are vaued al the wnryjnt prepwd net d any trade discounts due. 1.11 Cash at bank and In hand Cash at bank and cash in h•d irtd cash shcffl tom tsgNy hquid investments vthich we in5tantty accessilje from the openiry of the dep)sl oy smilar WXOLmt. 1.12 Cr1101¥ and pro¥l$lo and pro4isions are TecryJrysed Rre the charity has a present Oblyti fewltirg a pasl event Ihal will probaily result in the transfer of fvThJs to a ttyrd party and the Ount dutr lo sttU• t Ol9tion ¢an be measured or estimaled rekably. Creditus and prcwisions are wrusei1 at Ih•ir settl¢ment amounl after allcwng for any th'Scots due. 1.13 Flnandal Instfum•nts The charrtable company hos finaNid as and fffianoal liaL¥lities of a kirJ thal qualify as basic financk irtstrumenls. 8asi¢ finan¢ial instwments irwtiafy recogrwsed al transacti ¥ue and sub5equenlly rneasu at their settlement value ith the eXpkn of bk I0S wthich are SubSewY mea8wed al am0"Sed cost uwng the offective intw¢sl metlb)d. 1.14 P•nslMs PayThents to defird (x¥IbutiOn lit benefit SCJm are rJhwye(l •$ an expens• as th¥y f811 du•. JUdg•Trts in PlyIng a¢¢owting policies d kny sour¢os •sllmallon uncwtalnty In the applicaion of the charity's accountiThJ pdi¢x the Irustees ¥e tequire(F to rnake lutsmen e5timatss and 859Jmptiorts atJul the carryiThJ amounl (4 assets arwj liabililies that are not readity 8ppaont from other sourc&s. The esbrnales ar 8sSCKiated assumptiwts #re based on hi*orical exp8ri8nc8 aThJ othgr ladS ihal are ¢onsidered lo be relevant Adual results may drffer frtyn these ethmates. The estimales and underfwng aSsumpbS are rle¥d on an ongoin9 bass. Revi510ns lo accounting estirnaes are r•co9nised in thè riod in 7Athich the eslThate bs lSed where the revision affects only that . (Y in the period Mis1 aThl future Ped$ the re¥ksion affeAs tth ojffenl and future There are no ggniftartt eslimato5. 16
Ch•ls•a FC Foundatton IA Ccfflpany Limited by Guae) Not•s to the financil statefflonts for tho yvr •nd¢d 30 Jung 2023 Stat•ment of FInanCL AGtlvltles for th• prfory As rn$tatod Total 2021 Unrestricted Deslgnated Restrlcted funds funds Total 2022 Income from: Donations Charilable aciivibes Fundrai5iThJ inctyne 4(KJ.481 4,658,018 181.555 4(MJ,481 738.255 5.396.2n 181,555 1.539.890 3,974.505 177,805 Tot•1 in¢on 5,240,054 738,255 5,978.309 5,692.200 Exp•ndilurn on: Costs of rai$rvJ lunds Chari&e activibes 156 1.748.122 6.461.299 6.373.422 4.713.177 Totsl •xp•ndltur• 4,713.177 1,748,122 6,461,299 6,373,578 N•t rnGv•m•Tht b•lorn transl•rs 526.877 { 1.ty)9.8671 1482.9901 1681.3781 Translefs beiwn furvJ$ 21 {575211 1 293.(MM) 282.211 N•t mov•mwt In fvnd$ (48.334) 293,0ty) 1727.656) 1482.990 } { 681,3781 Reconcillatlon of fund5 Tolal funds fop•rard 965.707 1.094.361 2,0.068 2,741,446 Total funds cathed fom 917.373 293.(m 366,705 1.577.078 2.060.068 17
Ch•ls•a FC Foundation {A Company Limited by Guatee> Notss to the Ilnanclal stat¢m•nts for the ar •ndod 30 2023 Donatlons 2023 2022 Gifts, donalions & legacies 81uo Co. donation 150.73D 2,000.0 40J.481 2.150.730 41KJ.481 Incom• from ¢haiitsbl• xts¥itie$ by activity 2023 2022 Gr8rtt income Oirect charitable adNities 1.539.935 1.523.030 3.863.131 3.873.243 5.403.066 5.396.273 Ineom¢ from fundraisiry •i¥le9 2023 2022 Raffles t4KI lottery 98.275 181,555 98,275 181,555 Irw¢stmont In¢om• 2023 2022 Bank int•rost 26,335 26.335 Charitabl• acii¥iti•s gxp•ndiiyrn 2023 2022 Staff costs Coaching programme co* Tran5POrt costs Other costs Coa¢h edution c051s Supwt 3.494.197 3.377.789 1.554.120 1.778.486 64.841 39,341 381.389 449.417 12,757 803.509 602,787 6,098,177 6,461,299 18
Chol$•a FC Foundation IA cpanY Limited by Guar•)tee) Not•s to th• financial statsments for th• y•ar and 30 Jun¢ 2023 Support $ts Telepe, p051age. stalionary & piiMNJ Consullanw and profwional c(tsts Depreciation 8ThJ amtytisati Olher support costs G¢NemarKe o)sts IMt• 10) 17.289 51.659 20.895 512,944 21.770 602.787 10. Governance Gosts Audit fee Tax & other nOTralt feey 19,250 2.520 21.770 11. Auditors r•mun•rati¢)n 2023 2022 Audit fee 19.250 18.000 12. 14•t Ineome 2023 This is stated aftff ¢hargry". Owoation #nd Ortisa¢ft OperalirvJ lease chanJes (20,895 } { 16.679 1 (120.0001 1120.000 1 13. FInan¢1 perfornwice of the chritable Ccrnltdat•d Slatwnenl of Fina481 Athdies indLths rewlls of the TMly owffi SL*15iLliaries. summary fin¢10[ pfjrfryma chwity 8lc#w is.. 2023 Inu>me Exponditure 7.625.291 5,978,310 16,055,352 ) 16,457,413 ) N•1 $¥rplusl(dofi¢it) 1.569,939 1479.103 ) 19
Cholse• FC Foundatlon (A Cclnpany Limited by Guarantee) Notes to th• finan¢lal Statements for th• y•ar•nded 30 Jun• 2023 1& Analysls of slaff $ts. trustee vemun•rntion and expenses. •nd the eost ol key m•n•gem•nt peOn 2023 2022 Wages ar#J Saries Sood sKurity c¥)sts Other penmn co&s 3.165.550 2.941,490 306.421 302.695 128,669 133,604 3,600,640 3,377,789 The avwage monthty numberd emooyees dwing thè as fdl¢Ms.' 2023 No. 2022 No. Core Staff The mber of employees earned t60. per annum or Tnrye (indwjwwj tsxabl¢ t¢nefits bui exdLJing ernoYer pension conlribulion51 during the year re as foll¢M.' Tho nwnber of higher p3id ernoYees 2023 No. 2022 No. In the band £60.001- £70,0 In th¢ band £80.001 - £9),000 In the b#nd £110.001 - £120.000 The Charity Iruslees we not paid or rttaved any other benefits from emF4oyrnent in the year (2022 - £nill No trustees were r8imbursed expenses during yeaf. 12022 - £nill No chartty TNstéa recai¥ad payment for professional or 01 seThrces supplitd to the charty {2022- £nill. The key management personnel d the charity CL)mprise the Trustees and Senior Management. The I1 emF4oyee tenefits of Ihe key managament perswl of the ¢h8rtty re £446.42812022 - £453.8231.
Ch•l$e• FC Foundatlon (A Company Limited by GLwranteel Nol•s to th• financlal $t•m¢nts forthe ar ¢Thd 30 rte 2023 15. TgIbl• Ilx•d 488•ts (Grnup & Chrlty) Flxiurns & L•avhold Fitllngs Improv•m8nls Total At 1 JY W22 14.682 18,832 94.184 108.866 18.832 At 30 June 2023 33.514 94.184 127,698 Depreciati¢)n At 1 July 2022 Charge ftyyeor 6.041 6.315 62.005 9.418 68.046 15.733 At 30 June 2023 12,356 71,423 83,779 Net book valu• At 30 Jung 2023 21.158 21761 43,919 At 30 June 222 8.641 32.179 1& Intangil)lefixed assÈts (Group & Chaiity) Liun¢• Total Cost At 1 July 2022 Additior 9.720 13.838 13.838 AI 30 June2023 23.558 23,558 Amortlsation Al 1 July 2022 Charge for year 2.700 5.162 2.700 5.162 AI 30 June 2023 N•t book v•lu• At 30 Jun8 2023 1S.696 15.696 At 30 June 2022 7.020 7.020 21
Chelsea FC Foundatlon IA Company Limited by GLorontee) Notes to th• finanelal sLm•nts for Iho ar ended 30 Juno 2023 17. Inv•stm•nts Group 2023 Group Cbarlty 2022 2023 Charfty 2022 sthi•nt In wAllY own•d wbsl&l•ry ¢¢rnpanles Chelsea FC FtyJndali Tr•JrvJ Company Ltd Total Inveslmwrt¥ Per¢ent•ge Shar8holdlng Charltabl• Company The Chelsea playe Trusl Country ErJIo awKI W$ D•scrtptlon Ordinary The Chelsea Players TnAt rdie4es in cases of need. distressed prts •ro ty have b employed or ertgw by Chelsea FC Fdc or its as%)ciated entiti$& The r¢wlls and summary of assets aTrJ lialilities of the charltatle (thipany or¥ as 2023 2022 Donati$ Intere re¢¢iv8t Expendituro 1.647 {41.555 ) { 3.699) othtfor the year 10.092 (3.699) 2023 2022 Total asset5 Totsl liabilities 177.837 283.138 (115.3931 Charitable 177,837 167,745 P•ve•ntag Shareholifjng Company Chelsea FC Foundat Trnthr¥J Company County Oe•cription Erg18r¥J arKI Wales Otdinary Chelsea FC Foundation Trading Ccnpany is witfrin Ihe Group to house any ¥¢kn"¥ity that the Charity engages in that can bè &>ere c¢mmer(xal in natwe. No activity was Ca1 J1 rythin the w*Jd. The sulls and summwy d assets and lialItieS of the are as ftlltyo.. 2023 2022 1,468 { 1.268 ) AdrninistratNe expenses (1861 PrOfrtllLoI for the ygar 200 (186)
Chelsea FC FodatIoft IA Ctsnpany Lirnited by Guarantee) Motos to th• financial statements fortho year ended 30 June 2023 17. Inv•slm•nts (Conth4j 20ZJ Total assets Total liabilities 128,178 127.979 Shareholders, fw¥ts 128,178 127,979 1& D•blors Group 2022 Charfty 2022 2023 2023 Trade debtors knoun15 oAEd ty gmup wmlertakir Olher debto Prepayments arnl aed incfyme 177.717 390.683 1TT,717 127,083 32,951 349.319 10,967 48,946 11,459 48.946 349.319 450.596 559.989 451.088 687.070 19. CredStors: amounls fallkng due t*lthln on• ye Group Charlty 2022 2023 Trade credrto Amounts 0d to group uThJertakirv Othèr taxation arttl soo81 security Accruals arKI deferred inc(¥ne 17.424 88,356 26,272 125.805 1,005,508 17.424 126.335 1.005,508 102.534 1.188,F27 102.534 1,188.627 1.220.199 1.308.585 1.245,942 1.308.585 O•f•rr¢d In¢om• Oeferred inrxxne rdates to irlle forfirtUTe FeriL¥Is. Al 1 July 2022 AJnounts released lo i(ne Additions during the year 219.738 1219.7381 486,000 AI 30 June 2023 486.000
Chelsea FC Foundalion (A coMY Limited by Guarantee) Notes to the flnanclal statemonts for th• y•ar •nd•d 30 fi• 2023 21. Stat•m•nt of fvnds 37 Jim• 20 1Juty 2022 Income Exp•nditurn Transf•rs 3OJun• 2023 Unrestrf¢t•d lund General fund 917.373 5.522.603 (4.404.425) 354,000 2.389.551 D•slgfftd fur CFC MIND Seiies tyonal 293.0ty) (70.272 ) (22,500 ) 2CiJ.228 1,210.373 5.522.603 (4.474.697) 331.500 2.589.779 Reslrfet•d funds No io Hate PL Activate Seniors PL Chdsèa Chamior PL Core Funding PL Inspires PL Enlrepreneur PL Kiths PL Kiths Targeted PL Football PF PL Prnnary Stars 1,LMO.040 { 476.545) 1354.000 ) 209,495 82.7CKI {82,142 ) 30.147 188,833 { 226,9791 22,$00 101,214 230.0(KI 1230.000) 38.585 177.1181 39.947 74.) (64,508) 18.769 275,823 (274.0671 "63.730 23.147 (37.1261 6,630 15.rKJo 44.511 29,589 116,860 38.585 27.065 8.37T 61.474 20.610 15.C 49.146 150.360 (154.9951 { 37,873 ) 366.705 2.155.803 (1.623.481) { 331.SLXI I S67,528 Total fvnds 1.577.078 7.678,406 { 6.098.178) 3.157.306 Transf¢ Due to th8 sanclions Ihal Vre placed on Ihe Qub a tranche of fundrrwJfrytrE No lo Hate project was unable lo be rnade. Rather than carKdlir¥J the acbVatiCfflsf this w)Je(a uNestricted furKI ere utilised to cover the shorttall. UFW recwing the fuThng after sanc11u on Te litled, thi5 transfer vrns feversgd. D¥$lgnated lunds DurirvJ the year the C4ub made a donatic to the Fourthtion fr¢m ti¢k•t sales fc the MIND Swies frien¢Jy played against Tottonhwn Hotspur. The Truslee tr#)kts de(a%on to deale thesè fLmds to Ihalw411 b¢ for 2 years frrjn July 2023. Re5trfcted funds These funds ¢wst of grants and fr(m V¥iOUs lyjdtes Indli1¥j t10 for tr fdh74biro proJe¢ts'. lfjck5, PL Adfvate SeThors. PL Chelsea Chafflpions. PL Core FuThJiThJ. PL Inspires, PL Entrepreneur, PL Ftball PF ar#S PL Primary Ststs arbJ No lo Hats. The No to Hate Fwciecl aims to high1ht orld issues around antisemitisrn Mlhin fcJtbaU and the ider ¢xrfnmunity. 24
Ch¢lsea FC Foundallon {A Company Limlted by Guarantee) Not•s to the financlal stat¢monts far the yoar •nded 30 June 2023 21. Stat¢m•nl ollunds For the 1Juty 2021 30 Jun• 2022 Incom• Exp•ndlture Trnnsl•rs UnrestrlGted fvnd General fund 965.707 5.240.Q54 14.713,177) { 575.211 1 917,373 D*signat¢d fund CFC MIND S8ftes Donalion 293,OLKI 293.lJOO .707 5.240,054 (4,713.1TT I { 282.211 ) 1,210,373 R•$trf¢t•d tsnds No to Hate PL Activate Seniors PL Chelsea Chwnwons PL Core Furnjirvj PL Inspires PL Entreweneur PL Kicks PL Kick5 Target PL F(tball PF PL lMary St¥s 189.718 16.962 105.958 38,585 137.211 19.843 310.944 46,164 15.(Krf) 213.976 1548.807 ) 359,089 75.473 { 62,8461 225.520 1214.6181 230.000 1230.0001 { 71.141 ) { 39.rA751 84,4fy) 195.8661 71.937 { 321,407 } 50.925 (76.479) 29,589 116,860 38,585 27.065 8.377 .61.474 20,610 15.000 49.146 (126.957 ) { 37,8731 1.094.361 738.255 (1.748.122) 282.211 366,705 Total funds 1.775.741 5.978.309 16,461,299) 1.577.078
Chel$•a FC Found•llon (A crynpy Limited by Guarantee) Ilol•$ to the Ibnan¢lal statements for th• year ended 30 Jyn* 1023 21 knaly818 ol nol by fund orl r ended 31 March 23 funds funds Fbxed ossels Current assets Current lialylities 59.615 3.750,362 { 1.220.199) 59.615 567.528 4,317.890 11.220.199) 2.589.778 567,528 3,157,306 ar ended 31 March 202 Unrestricted Restricted fvnds fund$ Fixed awts Current assets Current liabililies 47.840 2.471.117 (1.308,5851 47,840 366,705 2.837,823 11.308.5B51 1.210.372 366,70S 1.577.078 23. Pensions D•fin•d e¢)ntrlbutlon pens contributions pay•blo lor Ihè year ¢nd¢d 30 2023 •ncwnt8d to £128,669 (2022. £133,604). 24. Called up share capital The Charity is limited by w8rante8 a1 has no share catmtal. Tha liability of the truste8s as membars is limit] by guarantee lo not more Ihan £10.
Chelsea FC Foundallon IA Company Limile11 by Gu8nleel Note$ to Ihe finandl statem•nts forthe Y end 30 June 2023 2S R•lal•d Party tr4nMction$ The Charity conducts trsineSS transa¢knLW M a rM)mwl cMclaI b1$ TAilh. and rec•¥8s a nwnb8r of services frorn the fc41owng related Ccthpani Chelsea FC Holdings Limited, Chdsea FootbaN aub Limited. c FC Merthandising, Chelsea Women's Football aub Lynited and Chelsea Car Paths Limit •e related paities duè to a nLunber of Truste8s of Cholsea FC Foundation bng direcloo of tha Chdsea FC wup cnpare Sales lo Chelsea Fojtbal Club Lirnited indLN4e the recharge of coxhing time cljnducted by Foundation stsff on half of the Football CILtrb. Sales durirrfJ the yw lo £232.09312022- £262.759). Pwthases durin9 th¢ year &nounted to £90,2 {2022- £54.112J At th¢ yearwd. £29.337 ¥AS du• (2022- £3.039). Blueco 22 Limited made a £2.000,000 donatic (21W2- £ndl dwiw the pwi¢xl. Chelsea FC Holdings Limf(ed pay the pertsi r¥)5ts ¥thich are ro¢h8ryed to the Fndati0ft on • monthly baws a5 wdl as other sèfvi¢es prtyided to the Fnd$1¥). Puria5es dwing the year wnounted to £814,99212022- t747.422. At t yew erhy. oUrtts payable was £nil (2022- £nil}. Amounts 0d to Chelw FC merchdIS•) Ltd relate to cgjsts charges ofmefchandise it$ or stadium IOLKS used as lotterylraffle prizes. Pur¢hase$ during the yw nted to £14.426 {2022- £5.2351. Chelsea Car Park Ltd. ytyides car pathirKJ at Sl•nford Bndge. Purchases during Ihe ye8r omwnted to £4,176 12022- £4.176). Coathing lime is recharged lo Chelsea FttIl Clubwcxnen Ltd, dwing the year nounted to £33312022- £6.6101. At the year end £nil was due12022- £30).
Chelua FC Foundallon IA Company Limited by Guarantse) Notes to the financlal statements for the year endod 30 June 2023 Re¢oncith*tion of net wKomel{expernlilurn) to nel fiow from OlAt1 actl¥ities 2022 N•t Incom(8xPlndturn) for th• p•riod AdJuslm•nts for. Deweciatson charges Amortisation charges Interest receivatrAe Decreas•l{intrtw) in dtbtors Decreasel{increw) In credltors 1,580,228 1482.990 ) 15.733 5.162 (26.335 ) 109,393 J5.660 { 88,386 ) 39,615 13.980 2.700 Net cash pmvlded by operatlng actlvllles 1.S95.795 478.965 27. An•lysi8 of changej in net debt The charitable company had debt during the y.