Company number: 06858117 (England and Wales)
Charity number: 1129723
Chelsea FC Foundation
Annual Report and Consolldated Flnanclal Statements
For the Year Ended 30 June 2024

Chelsea FC Foundallon
(A Company Limited by Guarantee)
Contents
Page
Report of the Trustees
Independent Audltors, Report
Consolldated Statement of Flnanclal Activities
10
Consolidated Balance Sheet
11
Charltable Company Balance Sheet
12
Consolldat8d Cash Flow Statement
13
Notes to the Flnanclal Stat8m8nts
14-28

Chelsea FC Foundatlon
(A Company Limited by Guarantee)
Report of the Trustees
For the year ended 30 June 2024
The trustees are pleased to present thelr trustees, annual report together wlth the consolidated financial statements
of Chelsea FC Foundation (the Charity) for the year ended 30 June 2024 whlch are also prepared to meet the
requirements for a dlrectors, report and accounts for Companies Act purposes.
The consolldaled financial statements have been prepared In accordance wlth the accountlng policies set out on
pages 14 to 28 of the attached consolidated financial statements and comply with the Charity's Memorandum and
Articles of Assoclation, applicable laws and the Statement of Recommènded Practlce: Accounting and Reportlng by
Charjtles (the SORP) applicable to charilles preparing their accounts In accordance wlth the Flnanclal R8POrting
standard appllcable In th8 UK and Republlc of Ireland (FRS 102) and Companles Act 2006, effectlve from
accountlng perlods comm8nclng 1 January 2019 or later.
Structure. Governance and Management
Governlng Document
Chelsea FC Foundatlon Is a company Ilmited by guarant88, govemed by Its Memorandum and Articles of
Assoclatlon dated 25 March 2009 and amended on 25 January 2011 and 16 August 2018. 20 May 2022 and 17 June
2024. It Is reglstered as a charfty with the Charlty Commlsslon (reglstered number 1129723).
Appolntment of Trustees
As set out In the Artlclas of Assoclatlon, Trustees are Invited to loln the Board. Chelsea FC Holdings Llmltad ('the
Club,) can appolnt up to three Trustees.
On appolntment, Trustees complete a reglster of interests and new Trustees wlll undertake an Inductlon programme
that Includes famlliarisatlon wllh the purposes and operation of the Charity, Its strategies and its oblectivas. There Is
a Iralnlng programme for Trustees and Trustees are encouraged to attend appropriate external tralning ev8nts to
assist them In the undertaklng of Ihelr role.
Organlsatlon
The board of Trust8es, whSch shall Include no less than three members. administers the Charlly. The board meels at
four limes a year. A Head of Foundation Is appointed by the Trustees lo manage the day-to-day operatlons of the
Charlty. To facllitate effectlve operations, the Head of Foundation has delegated 8Uthorlty, wlthln terms of delegalion
approv6d by the Trustees. for operational matters Includlng finance, employment. education and sport related
actlvlty.
Subsldlary companles
The Charlty has one trading subsldiary, Chelsea FC Foundation Tradlng Company Llmited {TCL) and one charltable
subsldiary, The Chelsea Players, Trust {CPT).
Any profit generated by the actlvities of the trading subsldlary is donated to the Charity.
Related Partles
The Trustees consider that the Club and its subsldlaries ar8 related parties of the Charity. In additlon to this, as the
parent company of Chelsea FC Holding Limited the Trustee's consider Blueco 22 Limited as a connected party.
Risk Management
The Trustees have a duty to identify and revlew the risks to whlch the charity is exposed and to ensure appropriate
controls are In place to provide reasonable assurance against fraud and error. Trustees have assessed the major
rlsks to which the Charlty Is exposed, with particular attention focused on non-financial rlsks arislng from working
with young people. A key element In the management of financial risk is the setting of a regular review through the
management team.

Chelsea FC Foundatlon
{A Company Limlted by Guarantee)
Report of the Trustees
For the year ended 30 June 2024
Chalr's Report
Thls flnancial year has marked my first full as Ch8ir of Chelsea Foundation.
As a Ilfelong Chelsea FC fan, I have always been very proud of ourwork In the communlty, and to have seen thls
outstanding work first-hand has been extremely fulfilling.
Football Is key In breaking down barrlers, contributlng to soclal Improv8ment and posltlvely affectlng our communltles
and cultural attitudes. Chelsea Foundatlon Is formed by these valu8s and a commltment to ensure football Is used as
a force for change, glvlng back to the communities we serve.
We are ambltlous and want to ensure we are leaders on and off the pltch. Whether that be our commltment to
provldlng opportunltles for young glrls to play football, uslng the power of the Chels8a badge to support varylng
educatlonal needs, or our continued efforts to combat all forms of hate. Chelsea Foundation is ensuring we have a
tanglble Impact on our local communltles.
Durlng thls perlod, we have also welcomed Millie Bright OBE and Loulse Jacobs as trustees of Chelsea Foundatlon.
Followlng thls, we have also now welcomed Laura Cordlngley as Chelsea Foundation's Chlef Executiv8.
Laura wlll be Instrumental In evolvlng the Foundatlon's dellvery even further. hyper focused on supporting our local
communilles with an Impact-led approach, ensurlng we are posltlvely Impactlng those who need our help the most
and where we're best placed to support.
l am extremely exclted by the next chapter In the Foundatlon's work.
Lord Danlel Flnkelsteln OBE,
Chalr of Chelsea FC Foundatlon

Chelsea FC Foundation
(A Company Limit8d by Guarantee)
Report of the Trustees
For the year ended 30 June 2024
Financlal Revlew
The results for the year ended 30 June 2024 show a surplus of £537.524{2023: £1.580.229}. Total InGoming
resources wer8 £8.612.501 (2023: £7,678,450) and total resources expended were £8,074,677 (2023: £6,101.292).
The underlylng activity has contlnued to operate from a strong financlal base through the hard work of the
Foundation staff and the continued support from our partners. Thls has been strengthened further by the fundlng thal
has been provided by Blueco 22 Limited.
Donated Servl¢e8
The Charity recelves financial support from th8 Club and Its subsldlari8S to the extènt that support functlons ara
provided free of any charg8.
Investment procedures and pollcy
At the present time the Chelsea FC Foundatlon has taken the declslon to not hold any Investments. The Trustees
have the power to revlse this posltion as they see flt, a5 set out in the Memorandum and Artlcles of Assoclallon.
Raservos Pollcy
To be able to cover all commltments the Foundatlon's policy Is to hold unrestrlcted reserves of b8twe8n £0.8m and
£1 .2m. This was revlewed and r8conflrmed by the Trust88s on 8th March 2022.
Trustees consider free reserves to be th8 unrestrlcted reserv8s of the charlty. whlch have a surplus at the year-end
of £1,414,076 (2023.. £2,389,551). Thls level Is above that agreed in the reserves policy and the Trusteé's and senlor
management team are currently revlewlng programmes that the addltional reserves can b8 designated towards.
Please see note 21.
The flnanclal statements have been prepared on the golng concern basls which the trustees bellev8 to b8
approprlale. See Note I for further detalls.

Chelsea FC Foundation
(A Company Llmited by Guarantee)
Report of the Trustees
For the year ended 30 June 2024
Reference and Administratlon Detalls
Reglstered company number..
0685817 (England and Wales)
Reglstered charity numb8r:
1129723
Rp.oi.8tftrfid offir.A'
8tamfnrd RridoA. Fiilham Rnad, I nndnn, Swfi 1H.8
Dlrectors and Irustaos
The dir8Ctors of the charltable company are Its trustees for the purpose of charfly law. The trustees and offlcers
servlng durlng the year and slnce the y8ar end were as follows:
Lord D Flnk81stèln OBE (Chair)
EC Hay8s OBE
P Powar
Rt Hon Slr Robertson KCMG DL
B Charone
L Jacobs
M Bright
Reslgned 23 January 2024
Appolnled 01 March 2024
Appolnt8d 01 May 2024
Key management personnel
The key manag8ment personnel are Ihe non-executlve dlrectors of the organlsatlon; they are responslble for thé
day-t¢>day management of th8 Gharlty's actlvitles:
Operatlons Dlrector
International Development Managar:
Head of Community Programmes:
Head of Football Development:
H8ad of Educatlon & Innovation..
T Readlng
I Woodroffe
P Haslings
D Jacquart
S GaskSn-Kemp
Banker
Barclays
Pall Mall Corporate Banking Centre
50 Pall Mall
London, SW1A 1QA
Audltor
CLA Evelyn Partners Limited
17 Queens Lane
Nawcastle Upon Tyne
NE1 1RN

Chelsea FC Foundatlon
(A Company Limited by Guarantee)
Report of the Trustees
For the year endad 30 June 2024
STATEMENT OF DIRECTORS RESPONSIBILITIES
The trustees (who ar8 also director5 of Cholsea FC Foundation for the purposes of company law) are responslble for
preparing tho Dlréctors. report and tho financlal statftm8nt5 In accordance wlth applicable law and United Klngdom
Accounting Standards (Unltod Klngdom Gonorally Accepted Accounting Practice).
Company law requlres the Irust68S to prepare financial statements for each financlal year which give a true and falr
view of the stata of affalrs of the charltable company and of the Incomlng resources and applicatlon of resources,
including the Income and expenditure, of the charltable company for that perlod. In preparlng these financial
statements, the trustees are requlred to:
select sultable accountlng pollcles and then apply them conslstently",
observe the methods and principles In the Charities SORP 2015 (FRS 102);
make judgements and estlmates that are reasonable and prudent;
slate whether appllcable UK Accounting Standards hav8 been followed, subject to any materlal departur8S
dlsclosed and explalned In the flnanclal statements;
prepare the financial ststements on the golng concern basls unless It Is Inapproprlate to presume that the
charitable company wlll continue In operatlon.
The trustees are responslble for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy at any
tlme the flnancial posltion of the charltable company and enabl8 them to ensure that the flnanclal statements comply
wlth th8 Companles Act 2006. They are also r8sponslble for safeguardlng the assets of the charltable company and
hence for taklng reasonable steps for the preventlon and detectlon of fraud and olher Irregularltles.
So far as each of the trustees Is awar8 at tha tlme the report Is approved:
there Is no relevant audlt Informatlon of whlch the charitable company's audltors are unaware, and
the trustees have taken all steps that Ihey ought to have taken to make themselves aware of any relevant
audit information and to establlsh that the auditors are aware of that Information.
Thls report was approved by the truslees on .iufv-. ..3... 202¥and slgned on its behalf, by:
Auditors
A resolution to appolnt auditors for the ensuing year wlll be proposed at the annual general meeting In Ilne wlth the
charlty's policles and In accordance with section 485 of the Companies Act 2006.
Thls report was ap
roved by the trustees on ...............
..) 202Sand slgned on Its behalf. by..
Lord D Flnkelstein OBE
Chair
Chelsea FC Foundation
(A Company Limited by Guarantee)

Independent Auditors, Report to the members of Chelsea FC Foundatlon {ConelnuedJ
For the year ended 30 June 2024
Opinlon
We have audlted the financial stalements of Chelsea FC Foundation (the 'charitable company,) and ils subsidiary
(the 'group') for the year ended 30 June 2024 which comprise the Statemenl of Financial Activities. Group Balance
Sheet and Charitable Company Balance She8t, Iha Cash Flow Statement and notes to the financial statements,
including a summary of signlficant accounting policies. The financial reporting framework that has be6n applied In
their preparatlon Is applicable law and Unlted Klngdom Accounting Standards. Including Flnanclal Reportlng
Standard 102 Th6 Financial Reporting Standard applicab19 in the UK and Republic of Ireland (United Klngdom
Generally Accepted Accounting Practice).
In our oplnion the financial statements:
glve a true and falr vlew of the state of th8 group's and charitable company's affalrs as at 30 June 2024, and of
th6 group's Incomlng resources and appllcatlon of resources. Includlng Its Incom8 and expendlture, for the y8ar
then ended-
have been properly prepared In accordance with Unlted Kingdom Generally Accepted AccDuntlng Practlce,. and
have been prepared In accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance wlth Internatlonal Standards on Auditing (UK) (ISAS (UK)) and appllcabl8 law.
Our responslbilities under those standards are further descrlbed In the Audltor's responsiblllties for the audlt of the
financlal statements seGtlon of our report. We are Independent of the charity In accordance wlth the ethlcal
requlrements that are relevant to our audlt of the financial statements In the UK, Includlng the FRC'S Ethlcal
standard, and we have fulfilled our oth8r elhlcal responsibilities in accordance wlth these requirements. We belleve
that the audlt evldence we have obtalned Is sufflcient and appropriate lo provide a basis for our oplnlon.
Concluslons rolatlng to golng concern
In audlllng the financial stat&menls, we have concluded that the trustees. use of the golng concern basls of
aGcountlng In the pr8parallon of the financlal statements Is approprlate.
Based on the work we have performed, we have not Ident1fl8d any materlal uncertalntles relatlng to events or
condltlons that, Indivldually or collectlV81y, may cast significant doubt on the charftles abillty to continue as a golng
concern for a period of at least twelve months from when the finandal statements are authorlsed for Issue.
Our rgsponslbllltles and the responslbllltles of the trustees with respect to golng con￿rn are described In the
relevant sectlons of this report.

Chelsea FC Foundatlon
(A Company Llmlted by Guarantee)
Independent Auditors, Report to the members of Chelsea FC Foundatlon (Conelnued)
For the year ended 30 June 2024
other Informatlon
The trustees are responsible for the other Information. The Other informatlon comprises the information included In
the trustees, annual report, other than the financial statements and our 8uditoVs report thereon. Our oplnlon on the
flnanclal 6tat8ments does not COV8r the other Infonnatson and, except to tha extent oth8rwl80 expllcltly stated in our
report. we do not express any form of assurance conclusion thereon.
In connection wlth our audll of the finandal statements. our responsibility Is to read the other informallon and. In
doing so, consld8r whether the other information is materlally inconsistent with the financial statements or our
knowledge oblalnad In the audit or Othe￿Is8 appears to be materlally misstated. If we Identlfy such materlal
Inconslslencles or apparent material misslalements, we are requlred to detemiine whether there Is a materlal
mlsstatement In the flnanclal stat8ments or a materlal mlsstatement of the other informatlon. If. based on the work
we have performed, we conclude thal there Is a materlal mlsstatement of thls other Informatlon, we are requlr8d to
report that fact.
We have nothlng to report in thls regard.
Matters on whlch we are requlrad to report by exceptlon
In the Ilght of our knowledge and understanding of the charltles and Its envlronment obtalned In the course of the
audlt, we have not Identlfied material misstatements In the trustees r8POrt.
We have nolhlng to report In respect of the following matters In relatlon to whlch the Charltles Act 2011 r8qu5res us to
report to you if, in our oplnlon:
adequate accountlng records have not been kept, or retums adequate for our audlt have not been recelved from
branches not vlsited by us. or
the flnancial slalements are not In agreement wlth the accountlng records and returns., or
certaln disclosures of dlrectors, remuneration speclfied by law ar8 not made; or
we have not r8celv8d all the Information and explanatlons we require for our audlt: or
the trustees were not entitled to prepare the flnanclal statements In accordance vAth the small companles,
reglme and take advantage of the small companles, exemptlons in preparlng the dlrectors, report and from the
r8quir8ment to prepare a strategic report.

Chelsea FC Foundation
(A Company Llmited by Guarantee)
Independent Audltors, Report to the members of Chelsea FC Foundatlon (Confinued)
For the year ended 30 June 2024
Responslbllltles of trustees
As explained more fully in the trustees, responsibilities ststement set out on page 7, the trustees are responsible for
the preparatlon of the financial statements and for baing sallsfied that they give a true and falr vlew, and for such
Internal r.nnlr()l as thp. trii.8199.8 d&lHrmlnp 1.% nftr.ft88ary Ir) 8nahle th8 preparalinn nf finanr.1818tal8mfints that arfi frpA
from materlal mlsstalement, whether due to fraud or error.
In pr8parlng the flnanclal statements, the truslees are responsible for assassing the charlties abllity to continue as a
going concem, disclosing, as applicable, matters related to golng concern and uslng the golng concern basls of
accounting unless th8 trustees either intend to liquidate the charitable company or to cease operatlons, or have no
reallstlc alternatlV8 but to do so.
Audltor's responslbllltles for the audlt of the flnanclal statements
Our objectlves are to obtain reasonable assuranc8 about whether the financlal stataments as a whole are fr8e from
materlal mlsstatement, whether due to fraud or error. and to Issu8 an audllofs report that includes our oplnlon.
Reasonable assurance is a hlgh level of assurancè, but Is not a guarantee that an audlt conducted In accordance
wlth ISAS (UK) wlll always detect a malerial mlsstatement wh8n it exists. Mlsstatements can aris8 from fraud or error
and are consldered material if, Individually or In the aggregat8, they could reasonably b8 expected to Influence the
economlc declslons ol users taken on the basls of these financial statements.
Irregularltles, Includlng fraud, are Instances of non-compllance with laws and regulations. We daslgn procedures In
Ilne wlth our responslbllilles, outlln8d above. to detect material mlsstatemenls In resp8Ct of Irregularltles, Includlng
fraud. The extent to whlch our procedures are capable of deteGtlng Irregularitles, Includlng fraud, Is detalled b810w.
We obtalned an understandlng of the legal and regulatory framework applicable to both the charlty ItS8lf and Ihe
Induslry In whlch It operate5. We Identified areas of laws and regulallons that Gould reasonably be expected to have
a materlal effect on the finanGlal statements from our sector experlence and through dlscusslon with the trustees and
other management. The most significant were Identlfled as the Charltles Act 2011, UK GAAP (FRS102) and relevant
tax leglslallon. We consldered the extent of compliance with those lav￿ and regulations as part of our procedures on
the relat&d flnanclal statements. Our audlt procedures Included:
maklng enquires of trustees and management as to where they conslder there to b8 a susceptibillty to fraud and
whether Ihey have any knowledge or suspiclon of fraud.,
obtaining an understanding of the Internal controls estsblished to mttlgate risks related lo fraud or non-
compllance with laws and regulatlons.
revlewlng the minutes of meetings of those charged with gov8manc8',
assesslng the rlsk of management overrid8 Including identifying and lesting journal entrles. and
conflrmation re¢elved dlrectly from the banks to verify the balance at 30 June 2024,.

Chelsea FC Foundation
(A Company Limited by Guarantee)
Independent Audltors, Report to the members of Chelsea FC Foundation (Contlnued)
For the year ended 30 June 2024
Our audll did not identify any key audlt matters relating to the detection of Srregularlties including fraud. However,
despite the audit being planned and conducted In accordance wlth ISAS (UK) there remains an unavoldable risk that
materlal mlsstatements in the financlal statements may not be detected owing to Inherent Ilmitatlons of the audit, and
that by their vory natur8, any 6UGh instances of fraud or Irregularity likely involv8 coIIu61on. forgary. intentional
misrepresentatlons. or the overrlde of Internal controls.
A further descrlptlon of our responsibllltles for the audlt of the financial statements is located on the Flnanclal
Reporting Councll's webslle at: www.frc.org.uklauditorsresponsibilities. This descrlptlon forms part of our auditorfs
report.
Use of Our Report
ThSs report Is made solely to the charlties trustees. as a body, In accordance with Part 4 of the Charltles Regulations
2008. Our audlt work has been und8rtaken so that we mlght state to the charltable company's members thosa
matters w8 are requlred to state to tham In an audltofs report and for no other purpose. To the fullest extenl
permllted by law, we do not accept or assume responslblllty to anyone Other than th8 charlty and the charlties
trustees as a body, for our audit work, for thls report, or for the oplnlons w8 have fomied.
CPL
Cralg Henderson (Sanlor Statutory Audltor)
For and on behalf of CLA Evelyn Partners Llmlted
IZ loL
Chartered Accountants and
Statutory Audltors
17 Queens Lane
Newcastle upon Tyne
NE1 1RN

Chelsea FC Foundatlon
(A Company Limlted by Guarant8e)
Consolldated Statement of Flnanclal Activitles (IncorpoTating the consolldated Incomè and Expendlture Account)
For the year ended 30 June 2024
Unrestrlct8d Deslgnaled Restrlcted
funds
funds
funds
Total
2024
Total
2023
Notes
Incom8 from:
Donations
Charltable activities
Fundralsing Income
Investment Income
1,308.160
4,943,808
100,613
144,697
1.000.000 2,308,160
1.114.923 6,058,731
100,613
144,697
2,150.730
5,403,066
98,275
26,335
Total Incomo
6,497,278
2,114,923 8,612,201
7,678,406
Expendlture on..
Charltable actlvlties
6.248,804
1.825,873 8,074,677
6.098,178
Total expendltura
6,248,804
1,825,873 8,074,677
6.098,178
Net movament before transfers
248.474
289,050
537,524
1,580,228
Transfers between funds
21
(1,223,949) 1,179,797
44,152
Nel movoment In funds
{ 975,475) 1,179.797
333.202
537,524
1,580,228
Reconclllatlon of funds
Total funds brought forward
2,389,551
200.228
567,527 3,157,306
1,577,078
Total funds carrled forward
1,414.076
1,380,024
900,730 3,694,830
3,157,306
The results for the year derfve from continuing actlvltles and there are no galns or losses other than those shown
above.
10

Chelsea FC Foundation
(A Company Limlted by Guarante8)
Consolldated Balance Sheet
As at 30 June 2024
2024
2023
Notes
Flxed assets
Tangible assets
Intanglble assets
15
16
222,158
9,720
43,919
15,698
231,878
59,615
Current assets
Deblors
Cash at bank and In hand
18
2,970,413
2,149,103
450,596
3,867,294
5,119,516
4,317,890
Llabllltles
Creditors.. amounts falling due
wlthln one year
19
(1,656,564)
{ 1,220.199)
Nat current assets
3,462,952
3,097.691
Total assots las8 current Ilabllltles
3,694,830
3,157,306
Total net assets
3,694,830
3,157,306
Th8 funds of the charlty
Unr8Strlcted funds
Deslgnated funds
21
21
1,414.076
1,380.024
2,389,551
200,227
2.794.100
900.730
2,589,778
567,528
Restrlct&d funds
21
3,694,830
3,157,308
These flnanclal statements have been prepared In accordance with the provisions appllcable to companios subject to
the small companies regime.
The ftnanclal statements were approved by the Board of Trustees on .
signed on its behalf by:
. 202¥and were
Lord D Finkelstein OBE
The notes on pages 14 to 28 form part of these financial statements.
11

Chelsea FC Foundatlon
(A Company Limited by Guarantee)
Charlly Balance Sheet
As at 30 June 2024
2024
2023
Notes
Flxed assets
Tangible assets
Intanglble assels
Investments
15
16
17
222,158
9.720
43,919
15,696
231,879
59,616
Current assets
Debtors
Cash al bank and In hand
18
2.704.864
1,929,634
451,088
3,601.813
4,634,498
4,052,901
Llabllltles
Creditors: amounts falllng due
wlthln one year
19
(1,656,564)
(1,245,942)
Nat current assets
2,977,934
2.806.959
Total assets less Current Ilabllltles
3,209,813
2,866.575
Total net assets
3.209.813
2,886.575
The funds of the charlty
Unreslrlcted funds
D8slgnated funds
21
21
929,059
1,380,024
2.098,820
200,227
2,309.083
900,730
2,299,047
567,528
Restricted funds
21
3,209,813
2,866,575
These financial statements have be8n prepared In accordance with the provlslons appllcable to companies subject to
the small companies regime.
The financial statements were approved by the Board of Trustees on
slgned on Its behalf by-
. 202¥and were
Lord D Fink8lstein OBE
12

Chelsea FC Foundatlon
(A Company Llmlted by Guarantee)
Consolidated Statement of Cash Flows
As al 30 June 2024
Cash flow8 from oporallng actlvltl86:
Cash generated from operatlons
26
(1,939,875) 1,595,795
Net cash provlded by operatlng actlvltles
(1.939,875) 1.595.795
Cash flows from Investing actlvitles:
Purchase of tanglble fixed assets
Interest recelved
{ 203,844) (32,670)
144,697
26.335
Net cash used In Investing actlvltles
{ 59,147) (6,335)
Change In cash and cash equlvalents In the year
(1,718,191 ) 1,589,460
Cash and cash equlvalents at the begSnnlng of the year
3,867,294 2,277,834
Cash and cash equlvalents at the end of the year
2,149,103 3,867,294
Cash and cash equlvalents conslst of:
Cash at bank and In han(F
2,149.103 3.867,294
13

Chelsea FC Foundation
(A Company Llmited by Guarantee)
Notes to the financial statements
for the year ended 30 June 2024
1. Accountlng pollcles
Ch81sea FC Foundation is a private company limited by guarantee (Companies House No. 06858117) and a
reglstered charity (Registered Charity No. 1129723). It is incorporated and domiciled in England and Wales.
The registered offlce is Stamford Bridge. Fulham Road. London, SW6 1HS, UK. The principal activSties of Ihe
Group and Charity are mentioned in the Trustees. Report.
The followlng accountlng policies have been applled consistently in dealing with Items which are consldered
materlal In relation to the Group's financial statements.
1.1 Basls of praparallon of flnanclal statements
The financlal statements have been prepared in accordance wlth Accountlng and Reportlng by Charlt188:
Stat8ment of Recommended Practlce appllcable to charitles preparlng their accounis In accordance wlth th8
Flnanclal Reportlng Standard applicable In the UK and Republlc of Ireland (FRS 102) Issued In October 2019,
the Flnanclal Reporting Standard app15cable In the United Klngdom and Republlc of Ireland (FRS 102), the
Charities Act 2011 and UK Generally Accepted Accountlng Practice.
Chelsea FC Foundation meets the definltlon of a publlc benefit entity under FRS 102. The flnanclal
statements are prepared under the historical cost convenllon or transactlon value unless otherwlse staled In
the relevant accounting pollcy note{s). The flnancial statements are prepared In Sterllng whlch Is th8
functional currency of the charlty and rounded to th8 near8St £.
The slgnlficant accounting policles applled In the preparatlon of these financlal statements are set out below.
These pollcles have been consistently applied to all years presented unless otherwise slated.
1.2 Basls of consolldatlon
These consolldated financlal stat8menls consolklate the results of the Charfty and Its wholly owned subsldiary
undertaklngs, Chelsea FC Foundation Trading Company Ltd and The Chelsea Players, Trust on 8 Ilne-by-line
basis. A separate Statement of Flnancial Activities and Income and Expendlture Account for the charity has
not been presented because Chelsea FC Foundatlon Trading Company Ltd and The Chelsea Players, Trust
has taken advantage of the exemption afforded by sectlon 408 of the Companies Act 2006.
1.3 Golng concern
The financial statements have been prepared on a going concem basls. The trustees have reviewed and
consldgred relevant Information, Including the annual budgets In making Ihelr assessment. Based on these
assessments, the Increased level of demand for tha servlces and the additlonal funding available the trust88S
have concluded that they can contlnue to adopt the going concern basis In preparing the annual report and
accounts.
1.4 Fund accountlng
Unrestricted funds can be used in accordance With the charitable objecllves al the discretlon of the trustees.
Designated funds comprfse unrestricted funds that have been set aside by the trustees for particular purposes.
The aim and use of each designal&d fund is set out In the notes to the financial statements.
Restrlcted funds can only be used for partlcular reslricted purposes 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.
14

Chelsea FC Foundation
(A Company Llmited by Guarantee)
Notes to the flnanclal statements
for th8 year ended 30 June 2024
1.5 Income
All Incoming resources are included In the Stat8ment of Financial Acdvitles when the charity Is legally entitled
to the income after any performance conditlons have baon met, the amount can be measured rellably and It Is
probablo that tho incomo will bo roGOiVOd.
Income from charitable activities Includes Income recelved under contract or where entitlement to grant
fundlng is subject to specific performance conditions and Is recognlsed as earned. Grant income included in
this category provldes funding to support p&rformance aclivlties and is recognised where there is entitlamont,
cerlainty of roceipt and the amount can be measured with reasonable certainty. Income received to dellver
servlces over a speclfic perlod coverlng more than one flnancial year Is aGGounted for over the speclflc perlod.
related expendllure Is accounted vthen Incurred.
For donatlons to be recognlsed th8 charlty wi15 have been nottfied of th6 amounts and the settlement date In
wrltlng.
Flxed asset glfts In klnd are recognlsed when rec8lvabl8 and are included at falr value. They are not deferred
over the Ilfe of the asset.
Interast recelvabl8 on funds h81d on deposlt Is Included when rec8lvab18 and th6 amount can b8 measured
r611ably by the charlty, th15 Is normally upon notlfication of the Inlerest pald or payable by the bank.
1.6 Expendlture and Irra¢ovorable VAT
Llabilitles are recognlsed as expenditure as soon as there Is a legal or constructlve obllgatlon commltllng the
charlly to that expenditure, it Is possible that a transfer of economic beneflts wlll be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basls and
has b&en classlfied under headlngs that aggregate all cosl related to the category. Where costs cannol be
dlreclly attrlbuted to partlcular h8adings they have been allocated to activltles on a basls consist8nt wlth the
use of resources.
Irrecoverable VAT Is charged agalnst the cost against the 8xp8nditure was Incurred.
1.7 Allocatlon and apportlonment of costs
Support costs are those functions which assist the work of the charity but do not dlrectly undertake charltable
aGlivilies. Support costs Include office costs. finance, personnel, payroll and governanc8 Costs whlch support
the charity's programmas and activities.
1.8 Tanglble flxed assets
Tanglble flxed assets are stated at cost (or deemed cost) or valuation less accumulated dep￿CIatIOn and
accumulated Impairment losses. Cost Indudes costs directly attrlbut8ble to maklng the asset capable of
operatlng as intended.
Depreciation Is provlded at the following annual rates in order to write off each asset over Its estimated useful
Ilfe.
Fixtures & Flttings
Leasehold Improvements
3 years
10 years
Fixed assets costlng less than £500 are not capitallsed.
15

Chelsea FC Foundation
(A Company Limited by Guarantee)
Notes to the financial statements
for the year ended 30 June 2024
1.9 Impalrment of flxed assets
At each reporting end dat8. the charlty reviews th8 carrying amounts of Its tangible assets to determin8
whether there Is any Indication that those assets hav8 suffered an Impalrment loss. If any such indication
exlsts, the recoverable amount of the asset is estimated In order to detemilne the extent of the impairment
loss {If any)-
1.10 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade dlscounts due.
1.11 Cash at bank and In hand
Cash at bank and cash In hand Includes cash and short tenn highly Ilquid Investments whlch are Instantly
accesslble from thg openlng of the deposlt or slmllar account.
1.12 Credltors and provlslons
Creditors and provislons are recognlsed where the charfty has a present obllgatlon resultlng from a past event
that wlll probably result In the transfer of funds to a thlrd paty and the amount dua to settla the obllgation can
be measured or estimated reliably. Creditors and provisions ar8 normally recognlsed at thelr settlement
amount after allowlng for any discounts due.
1.13 Flnanclal Instrumenls
The charitable company only h85 financlal assets and flnanclal Ilabllitles of a klnd that qualify as baslc flnanclal
Instrum8nts. Baslc financlal Instruments are InltialEy recognlsed at transactlon value and subsequently
measured at thelr settlement value wlth the 8xceptlon of bank loans whlch are subs8qu8ntly measured at
amortlsed cost uslng the effective inter8St method.
1.14 Penslons
Payments to d8fln8d contributlon retirement benefit schemes are charged as an expense as they fall due.
Judgements In applylng accountlng pollcles and key sources of estlmatlon uncortalnty
In the appllcation of the charfty's accounllng pollcles, the trus18es are requlred to make Judgements, estlmates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The 8slimates and associated assumptions are based on historical experience and olher factors that
are considered to be relevant. Actual results may differ from these eslimates.
The estlmates and underlylng assumptions are revlewed on an ongoing basls. Revlslons to accountlng
estlmates are recognised in the period In whlch Ihe estimate is revlsed where the revislon affects only that
perlod, or in the period of the revision and future periods where th8 revislon affects both current and future
periods.
There are no significant estimates.
16

Chelsea FC Foundallon
(A Company Limiled by Guarantee)
Notes to the flnancial statements
for the year ended 30 June 2024
Statement of Financlal Actlvltles for the prlor year
UnrgStrlct•d D•slgnat•d R•slrlct•d
funds
funds
funds
Total
2023
Tolal
2022
Notes
Income from:
Donations
Charllable actlvitles
Fundralslng Income
Investment Incom8
1,110.690
4,287,303
98,275
26,335
1.040.040 2,150,730
1,115,763 5,403,066
98,275
28,335
400.481
5.396,273
181,555
Total Income
5,522,803
2,155,803 7,678,406
5,978,309
Expendlture on:
Charitable actlvltles
4,404,425
70.272
1,623,481 6,098,178
6.461.299
Total expendlture
4,404,425
70.272
1,623,481 6.098,178
6,461,299
Not movement before transfers
1.118.178
(70,272)
532,322 1,580,228
(482,990 )
Transfers between funds
21
354,000
(22.500) (331,500)
Net mov8m8nt In funds
1,472.178
{ 92,772)
200,822 1,580.228
(482,990)
Reconclllatlon of funds
Total funds brought fO￿ard
917,373
293,000
366,705 1,577,078
2,060,068
Total funds carrled forward
2,389.551
200,228
567.527 3,157.306
1,577,078
17

Chelsea FC Foundatlon
{A Company Llmited by Guarante8)
Notes to the financial statements
for the year ended 30 June 2024
Donatlons
2024
2023
Gifts, donations & legacies
Blue Co. donation
308,160
150,730
2,000,000 2,000,000
2,308,160 2.150.730
Income from charltable actlvltles by activity
2024
2023
Grant Income
Dlrect charltable actlvltles
1,741,744 1,539,935
4,316,987 3,863.131
6,058,731 5.403.066
Income from fundralslng actlvltles
2024
2023
Raffles and lottery
100,613
98,275
100,813
98,275
Investment Income
2024
2023
Bank Interest
144,697
26.335
144.697
26,335
Charltable actlvltles expendlture
2024
2023
Staff costs
Coaching programme costs
Transport costs
other costs
Coach educatlon costs
Support costs
4,407,158 3.494.197
1.853,519 1,554,120
65,881
64,841
665,945
381,389
461
843
1,081.711
602,787
8,074,677 6,098,177
18

Chelsea FC Foundation
(A Company Llmlted by Guarantee)
Notes to the flnancial statements
for the year ended 30 June 2024
Support costs
Telephone, postage, stationary & printing
Con8ultancy and prof6661onal cost8
Depreciation and amortisatlon
Other support costs
Governance costs (note 10)
45,633
156,228
31,581
824.729
23.540
1,081,711
10. Gov8rnance costs
Audlt fee
Tax & other non-audlt fees
20.200
3.340
23,540
11. Audltors remuneratlon
2024
2023
Audlt fee
20,200
19,260
12. Net Income
2024
2023
This is slated after charglng:
Depreciation and amortisation
Operating lease charges
(31,581 ) { 20,895 )
(120.000) (120,000 )
13. Flnanclal performance of the charltable company
The Consolldated Ststement of Financial Actlvities includes the results of the wholly owned subsldiaries.
The summary financial performance of the charlty alone is;
2024
2023
Income
Expenditur8
8.357,510
7,625.291
(8,014,272) (6,055,352)
Net surplusl(deficit)
343,238
1.569,939
19

Chelsea FC Foundatlon
(A Company Limited by Guarantee)
Notes to the financlal statements
for the year ended 30 June 2024
14. Analysls of staff cosls. trustee remuneration and expenses. and the cost of key management
personnel
2024
2023
Wages and salaries
Soclal securlty costs
Other pension costs
3,575,608 3,165,550
374.262
306,421
161.418
128,669
4.111,288 3,600.640
The average monthly number of employees durlng the year was as follows:
2024
2023
Core Staff
122
90
122
90
The number of employees who earned £60,000 per annum or more (Includlng taxable benefits but excludlng
employer pension conlrlbullons) durlng the year were as follows".
The number of hlgher pald employees was:
2024
2023
In the band £60,001- £70,000
In th8 band £70,001- £80,000
In the band £80,001- £90,000
In the band £110,001- £120.000
In the band £140,001- £150.000
The charity trustees were not paid or recelved any other beneflts from employment in the year (2023 - £nil) No
trustees were r81mbursed expenses durlng the year. {2023 - £nil). No charity Trustee received payment for
professlonal or other servlces supplied to the charity (2023 - £nil).
The key management personnel of the charity comprise the Trustees and Senlor Management. The total
employee benefits of th8 key management personnel of the charity were £299.206 (2023 - £446,428).
20

Chelsea FC Foundatlon
(A Company Llmited by Guarantee)
Notes to the flnanclal statements
for the year ended 30 June 2024
15. Tangible fixed assets (Group & Charity)
Assets under
construction
Flxtures & Leasehold
Flttlngs Improvements
Total
Cost
At l July 2023
Addlllons
33.514
97,913
94,184
127,698
201,967
104,054
AI 30 June 2024
104,054
131,427
94.184
329,665
Dapreclatlon
At 1 July 2023
Charge for year
12,356
14,310
71,423
9.418
83,779
23,728
At 30 June 2024
26,666
80,841
107,507
Net book value
At 30 June 2024
104,054
104,761
13,343
222,158
At 30 June 2023
21,158
22,761
43,919
16. Intanglble flxed assets (Group & Charlty)
Software
Llcence
Total
Cost
At 1 July 2023
Addlllons
23,558
1,877
23,558
1,877
At 30 June 2024
25,435
25,435
Amortlsatlon
At 1 July 2023
Charge for ysar
7,862
7,853
7.862
7.853
At 30 June 2024
15,715
15,715
Net book value
At 30 Jun8 2024
9,720
9.720
At 30 June 2023
15,696
15.696
21

Chelsea FC Foundation
(A Company Limited by Guarantee)
Notes to the financial statemenls
for the year ended 30 June 2024
17. Investments
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Investment In wholly owned subsldlary
companies
Chelsea FC Foundation Trading Company Ltd
Total Invostments
Percentage
Shareholdlng
100%
Charltable Company
The Chels8a Players Trust
Country
England and Wales
Descrlptlon
Ordlnary
The Chelsea Players Trust relleves In cases of need, hardshlp or dlstressed persons who are or have been
employed or engaged by Chelsea FC Holdlngs Limit8d or Its associated antilles. The results and summary of
ass8ts and118billtles of th8 charltable company are as follows..
2024
2023
Donallons
Interest recelvabla
Expenditure
243,040
5,654
(60.307)
50,000
1,647
{ 41,555)
Deflcil for the year
188,387
10.092
2024
2023
Total assets
Total liabllltles
366.224
177,837
Charitable funds
366,224
177,837
Percentage
Shareholding
Company
Chelsea FC Foundation Trading
Company
Country
Descriptlon
England and Wales
100%
Ordinary
Chelsea FC Foundatlon Tradlng Company is held within the Group to house any activity that the Charity
engages in that can be consid8red commercial in nature. No activity was Garrled out withln the period. The
results and summary of assets and liabilities of the company are as follows-
2024
2023
Interest receivab18
Adminlstrative expenses
5.997
(100)
1,468
(1,268 )
Profitl(Loss) for the year
5,897
200
22

Chelsea FC Foundation
(A Company Limited by Guarantee)
Not8S to the flnancial statements
for the year ended 30 June 2024
17. Inveslments (Contlnuedj
2024
2023
Total assets
Total liabilities
134.076
128.178
Shareholders, funds
134,076
128,178
18. Debtors
Group
2023
Charlty
2023
2024
2024
Trade debtors
Other debtors
Prepayments and aocrued Incom8
322.158
284.598
2,363,657
390.683
10.967
48.946
322,158
19,049
2.363.657
390,683
11,459
48,946
2,970,413
450,596
2,704,864
451.088
19. Credltors: amounts falllng due wlthln one year
Group
2023
Charlty
2023
2024
2024
Trade credStors
Amounts owed to group undertaklngs
Other laxatlon and soclal security
Accruals and deferred Income
other credltors
165.553
88,356
165.553
280.831
133,961
1,072.154
4,065
88,356
26,272
125,805
1,005,508
133,961
1.352,985
4.065
126.335
1,005,508
1,656.564
1,220,199
1,656,564
1,245,942
Deferred Income
Deferred Income relates to Income recelved for future periods.
At l July 2023
Amounts released to Income
Additions during the year
486,000
(486,000)
244,151
AI 30 June 2024
244,151
23

Chelsea FC Foundation
(A Company Limited by Guarantee)
Notes to the flnancial statements
for th6 year ended 30 June 2024
21. Statèment of funds
For the
ear ended 30 June 2023
At
1 July
2023
At
30 June
2024
Income Expendlture Transfers
Unrestrlcted fund
General fund
2,389,551 6.497,278 (6,248,804)(1.223,949) 1,414.076
Daslgnated fund
CFC MIND S6rl8s Donatlon
Jamel Edwards Fund
Paul Canoville Fund
Insplre Her
200,228
(160,203)
40,024
1,000,000 1,000,000
240,000
240,000
100,000
100.000
Total unrestrlcted funds
2,589.778 6,497.278 (6,248,804) (44,152) 2,794,100
R8strlcted funds
No to Hate
PL Actlvate Senlors
PL Chelsea Champlons
PL Core Fundlng
PL Insplres
PL Entrapreneur
PL Klcks
PL Klcks Targeted
PL Football PF
PL Prlmary Stars
PLFA Fund
209.495 1.000.000 { 682.172)
30,147
88.000
(82,599)
101,214
171,554 (244.273)
38,585
230,000 (230.000)
39,947
102,983
(90,352)
18.769
70,631
(58,691 )
63.230
291,754 (324,245)
6,630
15,000
44,511
527,323
35,548
64,227
38,585
52,578
32,704
.39,105
35,732
1,995
8,366
15,000
85,680
10,000
150,000 (113,501 )
10,000
4,650
Total restrlcted fvnds
567.528 2,114.923 (1,825,873)
44,152
900.730
Total funds
3,157,306 8.612.201 (8,074,677)
3.694,830
Deslgnated funds
During the year the Club made a donation to the Foundation from licket sales for the MIND Serles friendly
played against Tottenham Hotspur. The Trustee took the declslon lo deslgnate these funds to projects that will
be run for 2 years from July 2023.
24

Chelsea FC Foundatlon
(A Company Llmlted by Guarantee)
Notes to the flnanclal statements
for the year ended 30 June 2024
Al year and the Trustees have designated £1.34m of the unrestricted reserves to the delivery of future
programmes. Of this. £1.24m Is to provlde multiyear grants to two partner Foundatlons. A further £100k has
been deslgnated towards the Ch8lsea Foundation Insplre Her programme whereby we have recelved a
Gommitment for 1 y8ar of 3rd party fLinding of a similar valiie. This d8signatlon will allow the deliv6ry of this
programme to be unaff8Cted for 12 months rf thls funding is not renewed.
Restrlcted funds
These funds conslst of grants and fundlng from various bodies Includlng those for the followlng projects..
Klcks, PL Actlvate Senlors. PL Chelsea Champions. PL Core Fundlng. PL Inspires. PL Entrepreneur. PL
Football PF and PL Prlmary Stsrs. PLFA Fund and No to Hate. The No to Hate proJ8Ct aims to hlghllght
ongoing issues around antlsemltlsm withln football and the wlder Gommunlty.
21. Stalemant of funds {¢ontlnued)
For the
ar ended 3
June 2023
At
1 July
2022
At
30 June
2023
Income Expendlturo Transfers
Unrestrlcted fund
General fund
917,373 5,522,603 { 4,404,425) 354,000 2,389,551
Deslgnated fund
CFC MIND Series Donatlon
293,000
{ 70.272 ) (22.500) 200,228
Total unrestrlcted funds
1,210,373 5,522,603 (4,474,697) 331,500 2.589,779
Restrlcted funds
No to Hate
PL Actlvata Senlors
PL Chelsea Champions
PL Core Fundlng
PL Insplres
PL Entrepreneur
PL Klcks
PL Klcks Target8d
PL Football PF
PL Primary Stars
1.040.040 (476.545) (354.000) 209,495
82,700
(82,142)
30,147
188,833 (226,979)
101,214
230,000 { 230,000 )
38,585
90.000
(77.118)
39,947
74,900
{ 64.508)
18,769
275,823 (274,067)
.63,230
23.147
(37,126)
6,630
15,000
44.511
29.589
116.860
38.585
27,065
8.377
61.474
20,610
15,000
49,146
22,500
150,360 (154,995) (37.873)
Total rostricted funds
366.705 2,155,803 (1,623.481) (331,500) 567,528
Total funds
1,577.078 7,678,406 (6,098.178)
3,157,306
25

Chelsea FC Foundatlon
(A Company Llmited by Guarantee)
Notes to the financlal statements
for the year ended 30 June 2024
22. Analysls of net assets by fund
Far thR
nded
Unrestrlcted Restrlcted
funds
fund5
Total
Flxed assets
Current assets
Current liabllltles
231.878
4.218,786
{ 1,656,564 )
231,878
900,730 5,119,516
(1,656,564)
2,794,100
900,730 3,694,830
For the
8ar ended 30 June 2
23
Unrestrlcted Restrlcted
funds
funds
Total
Flxed assets
Current assets
Current Ilabllltl8S
59,615
3,750,362
(1,220,199 )
59,615
567,528 4.317,890
(1.220,199)
2,589,778
567.528 3,157,306
23. Penslons
Deflned contrlbutlon
Penslon conlrlbutlons payable for the year 8nded 30 June 2024 amounted to £161,481 (2023 - £128.669).
24. Called up share capltal
The Charity is limlted by guarantee and has no share capltal. The liability of the trustees as members Is Ilmlted
by guarantee to not more than £10.
26

Chelsea FC Foundation
(A Company Limited by Guarante8)
Notes to the financlal statements
for the year ended 30 June 2024
25. Related Party transactions
The Charity conducts buslness transactlons on a nomial commercial basls wlth, and receives a number of servlces
from the following related Companies:
Chelsea FC Holdings Llmlted, Chelsea Football Club Limited, Chelsea FC MerchandlsSng, Chalsea Women's
Football Club Llmlted and Chelsea Car Parks Llmited are related partles due to a number of Trustees of Chelsea FC
Foundation belng dlrectors of the Chelsea FC group companles.
Sales to Chelsea Football Club Llmlted includ8 the recharge of coaching time conducl8d by Foundatlon staff on
behalf of the Football Club. Sales during the year amounted to £260,161 (2023 - £232,093). Purchases durlng the
year amounted to £112,116 {2023- £90.962) At the year end, £nil was du8 (2023- £29,337).
81u8co 22 Llmited made a £2,000,000 donatlon {2023- £2,000,000) durlng th8 Period.
Chelsea FC Holdings Llmlted pay the pension costs whlch are recharged to the Foundation on a monthly basls as
well as othar s8rvlces provlded to th8 Foundallon. Purchases durlng the year amounted to £625,799 (2023 -
£814,992. At the year end, amounts payable was £nil (2023 - £nll}.
Amounls owed lo Chelsea FC Merchandlslng Ltd relate to costs for one-off charges of merchandlse It8ms or stadlum
tours us&d as lotterylraffle prlz8s. Purchases during th8 year amounted lo £15,085 (2023 - £14.426).
Chelsea Car Park Ltd, provldes car parklng at stamford Bridge. Purchases durlng the year amounted to £nll (2023 -
£4,176).
Coachlng tlme Is recharged to Chelsea Football Club Women Ltd, durlng the year amounted to £8,179 (2023-
£333). At the year end £nil was due (2023- £nil).
27

Chelsea FC Foundatlon
(A Company Limlted by Guarantee)
Notes to the financial statements
for the year ended 30 June 2024
26. Reconclllatlon of net Incomel(expendlture) to net cash flow from operating actlvltles
2024
2023
N8t Incomel(exp8ndlture) for thè perlod
Adjustment5 for:
DeprecSatlon charges
Amortlsatlon charg8S
Interest recelvable
Decreasel{increase) in debtors
Decreasel(Increase) in creditors
537,524 1,580.228
23,728
15.733
7,853
5.162
1144.697) (26.335)
{ 2,519.817) 109,393
436,365
(88,388)
Net cash provlded by operallng actlvltl8S
(1.659,044 ) 1,595.795
27. Analysls of changes In net debt
The charitable company had no debt durlng the year.
28