REGISTERED COMPANY NUMBER: 063318 {En£land and Wales} REGisfERED CHARITY NUMBER", 1136235 Re rt of the Tru5tee5 and Financial Statements for the Year Ended 30 June 2024 esterfleld F. mmunl Tr Sutton McGrath Hartley 5 Westbrook Court Sharrowvale Road Sheffield South Yorkshire 5118YZ
Contents of the Financial Statements tth ear Ended une 2024 P¥e Report of the Truste•s Report of the Indgpendent Audltors 7 to 10 ststement of Flnan¢lal ktivities li Balan¢e Sheet 12 Cash Fkni Statement 13 Notes to the Cash How Staternent 14 Notes to the Knandal Statemeblts 15 to 25
Chesterfleld F.C. Tnr Re rEnd The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the fSnan¢lal statemernts of the charity for the year ended 30 June 2024. The tru5tee5 have adopted the provision5 of Accounting and Reportlng by Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts in attordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffective ljanuary 20191. OBJEcnvES AND AcfwiTIES ObJectl¥es and activities The purpose of the Trust is captured in our Vision.. To WO in partnership with our communities to develop a wide ran8e of ¢pportunrfties which Improve the quality of life and outlook for individuals, 8TOUPS and nei8hbourhoods in Chesterfield and the surrounding area. This is delivered by promotlng ¢ommunSty participation In sport, health rècreation or other leisure time occupatSon of such persons who have need fuir such faclllties by reason of their youth, age. Infirmity or disablement. poverty or social and economic circumstance5 trr for the publlc at large in the interesls of Social welfare and with thè objert of improving their conditions of life. The delivery of these Li)lectfves Is undertaken by our main departments. ktivities and Sports, Education and Health and Wellbeing. The f3¢illties at the stadlum and particularly the HUB are used to enable projects for the Trust and partner5. In accordance with the Charity Cornmissionèr's guidance on pvblic benefrt. the proletts have identifiable out¢0mes that are beneficial, and they are open to the public in general. or an appropriate 5ertitin of that public. Achlevements and perfomian¢e Changes made over recent months means ownershlp of the Club has passed to Ashley and Phil Klrk. The Trust taking control of the Club was always seen as the only means of securing the future of both that Club and the Charity that sar alongside. Pro8res5 and promotion at the Club means the investment netegsary for an elite football club doesn't fit well wlth continued tharity ownership. A strong service level agreement and financial changes around the lease of thè facilitiès rnean that the Trust Is in a 5tronBèr position ihan before the new share issue and certainly than in 2020. The new owners have made it clear that the community model developed works for Che5terNeld FC gpin8 forward. The year covered by the accounts saw activities contlnue to grow. Chester's Den now sees well over 12000 entries in vear. There were a8ain record numbers at holiday Soccer Schools and projerts such a5 Camp Inspire and Pan-Disability Clubs. The young persons, social prescribln8 project, THRIVE. has contlnued to grow. The work done In this project has resuhed in an increase in funding from the local health trusts and a resulting increase In staff and outromes. This follows the prolect being recognised at the HSJ Partnership Awards 2023 as the Most EffertNe Contribution to Integrated Health and Care. A nLtmber of health trusts around the UK have enquired about establishing a stheme based on our model. Page I
Chesterfleld F.C. mmun Trust Re ort of the Trustees for the Year End 30June 1024 OBJEcnvES AND AcfMTIES The work on Camp Inspire based on the holiday al¥ltieS and food proBramme madt regional news reports once agaln. Delivered in partnership with Street Game5, our prolect is notetl for the large number of SEND children involved from the deprived families supported. Although this project becornes financially more and more difficult to sustain the prole¢i outcomes outweigh this strugglè and we would like to offer our thanks to the Camp Inspire staff and SLT staff member5 who worked on Camp alongside their role to ensure the success. The Youth Football Academy now has more than 130 full time students, girls and boys. who are combining thelr education with playing competrtive football to a high lèvel. Many of these players represented the Chesterfield first-team in cup competitions with around twenty playing at steps 2 to 6 of the football pyramid. One wa5 even called up for his country for European Nations fixture5. The junior academy now h¥5 over 250 players over nlne age groups to join the four senior age Efoup5. In July 2014 the Academy moved over to thè Football Club. however the Trust will remaln to run the Football and Education section which is Boing from strength to stren8th. The growih In Walking Football. both locally and on a national level, ha5 8iven rise to more player5, both male and female. jolning us to play the beautiful game. Chesterfièld FC Community Trust is the home of Walkin8 Football, with chief executive offir john Croot inventin8 the game. In May the Intemational Walking Football Federation World Championships was be held at the SMH Group Stadium. The Trust were pivotal in the delivery of this Competition whlch invofved teams from Australia. Lithuania, Sweden, Norway, France, Wales, Poland and the hosts, En813nd. Our Senior Spireltes Walklng Football Team played a series of 8ames aBainst the competlng teams to help prepare them before the Tournament started. Working in partnership wlth the PL)lice Crime Commissioner, Chesterfield 8orou8h Council, Derbyshire County Council, Blend Youth Prolect. Community safety teams and Chesterfield Police, the Trust rèmained active within the Queen's Park, West Bars and Market Place to help combat Anti-5otial Behaviours and criminal damage costs. Keeping our youth safe on the streets and signposting to local community seNices. During the year the Boots on the Ground project expanded to Buxton in which we ha¥e already seèn positive steps in combatting the anti-social behaviour In this area. The fact that the projert is expanding further aflel¢J highlights the p051tive impact it has on the Community. The Spireites"ABC"_ Affected by Cancer project continues to support local people as do several prgjecls with older people providing exercise and social interaction. Projects to support those afferted by mental health Issues or those recoverin8 from addiction also continue. It Ss important to note that our Senior 5pireites project now runs a third session during the week a5 the Wednesday and Friday group were runnin8 at capacity. The charity retumed a £4,472,273 loss on activities before taxatlon12023 £346.9751. The c105in8 net assets at 30 Junè 2024 were £922,65412023 - £5,394,927) of which £81.72512023 - £44,866) were restrirted funds. Total income excludlng exceptions write offs increased by 13% to £1,926.82012023- £1.699,1341. Page 2
mm nl Trus Re rt of the Trustees O June 202 for OBJECTIVES AND AcfiviTIES Flnaft¢lal re¥Sew a. Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in oper?tional existence for the foreseeable future. For this rèason, thèy continue to adopt the goin8 concern basis in preparing the finan¢lal ststements. Further details re8arding the adoption of the going cOnrn ba515 can bè found in the accountinB policie5. b. Reserves PDIicy The Trustees have stated that the Trv5t shuuld have in reserve the equivalent of three months Beneral working capital and an additional one month's salary costs. At present the level of resetves does not meet this requirement but it is something that the Trust Head of Finance alongside the Head of the Trust 19 3Ctively working towards. Our free reserves deficit has iwnproved to a £915.181 deficit12023 £1,375,882 deficit). The level of reserves is monitored and reviewed by Trustees throughout the year as part of our onBoin8 management of risk. Our free serveS level is not assessed as a slgnificant risk at present. We have in place a plan to incrementally increase the level Df free reseNes held. c. Prlncipal rlsks and uncertaSntles, flnancial risk-manaBement, and fundlng The major ri5k5 to thé charty are those that affect all busine55es. there is a feeling that issues around Covld are well diminished. there are still major Issues in the economy. While there will always be threats to finance, inclLsding that through l(Kal 8overnment xhemes. mu¢h of this fundlng Is meant to alleviate the Issues In society. The Trust ha5 a dlverse range of income source5 5ndudin8 commerclal iradln& dlrect participant fundlng, local government contrarts and grant funding. The Trust operate5 a Full C05t Retovery principle where all projects and initiatives should be fully costed including all onvcosts, adrninistration, 5UPPOrt ServIS and facility hire (including where we use our own pmIse$l. Where the intentlon is that every project will be financially sell-contained any variation to this will be 8t the discretion of the Board of Trustees. STRATEGIC REPORT STRucfuRE. GOVERNANCE AND MANAGEMENT Govemln8 document The charity is controlled by its governlng document. a deed of trust. aThl con5titute5 a limlted company, limited by guarantee, as defined by the Companies Act 2LK)6. Charlty constltutlon cheSterfld F.C. Comrnunity Trust Is reglstered as a charitable company limited by 8uarantee and was set up by a Trust deed. Elertlon of Trustets The management of the Grovp and the Charity is the responsibility of the Trustèes who are elected and co- opted under the terms of the Trust deed. Organi5ational structure and dedsknn-maklng policies The Board of Trustees meets at least bi-monthly. That Board appolnts relevant groups to undertake control of varlous asperts of the work of the charity. The senior officers of the charlty have an appropriate mandate manage day-t<Fday busines5. The heads of departments operate within set budgets. Page 3
Chesterfleld F. omm¥t Trust Re ort of tht Trustees for the Year Ended 30 Juno 2024 STRUCTURE, GOVERNAMCE AND MANAGEMENT Pollcles adopted tor the Sndurt40n and tralnlng ol new trustees There Is a protocol in place forthe induction of Trustee5 based on the Charity Commisslon Charity trustee welcome pack Pay pollcybr maament personMI A Remuneration Group is appointed by the Board of Trustees. Thi5 group meets twlce yearly and recommends pay and management changes to the Board. The pay of the Chief ExecutlvÈ OffKer and thè Chièf Finance Offi¢er1$ Set by the Board of Trustees Related party relatlonshlps The Board ofTrustees abides by the Policy on Conflirt of Interests Flnanclal rlsk mana8ement The Trustees have a$5essed the major Asks to whlch the Group and the Charlty are exposed, In particular those related to the operations and finances of the Group and the Charity and are satisfled that systems and procedures are in place to rnitiBate exposure to the major risks. Trustee Indemnlty The insurance poliry for the charity Includes provlsSon for ihe indemnity of trustees to the value of £lm. REFERENCE AND ADMINISTRATIVE OAlL$ Reglstered Company number 06903318 (England and Wales) Re8istered Charlty number 1136235 Reglstered offlce The Hub, SMH Groupstsdium Sheffield Road Whittington Moor Chesterfield Derbyshire S41 8NZ Trnstèes M5 1 A Cooper Dlrector M W Goodwin Retired N John50n Sports Journalist P M Roberts Accountant Iresi8ned 2717120241 D Simmonds Retired Dr P C Stankard Consultsnt Psychiatrist M E Thacker Deputy Direttor Iresi8ned 2717120241 W T Ward Retired P A Kirk (appointed 1110120241 Company Seuetary P Whiteley Page 4
Chèstèrfield F.L Commun Trust Re rt of the Trustees REFERENCE AND ADMINISTRATIVE E}AlL5 Audltors Sutton McGrath Hartley 5 Westbrook Court Sharrolwale Road Sheffield South YorkshSre Sll 8YZ PiANS FOR FUtURE PERIODS There ttJntinuÈs bèèn tonsiderable Browth in the SIZÈ and numbèr of projècts delivered by the Trust. There is no expectation that this 8rowth will slow over the next few years. However, the Trust will always be mindful that in delivering a greater number of social outcomes that the quality of the work done does not suffer. The Trust 15 always restricted by Facility Size as we are limited to the amount of inside space we have. We are hopinB that the development of the 3G pitch will commence this year which will be essential for the running of our Football and Education programme alongside Pan-Disability sports, Walking F(K)tball and many of our other projects. There are considerable opportunities to help communities in Chesterfield and the wider county by working WFth the holiday activity and food programme. The Trust will continue to work with Street Games to ensure the initiatives delivered In Chesterfleld can be dupllcated In the surroundlng counclls. The Trust has always benefrted from havlng the Chesterfield FC badge as 3 part of its reach. The level of 8oodwill at Chesterfield Football Club due to the communlty model and the stability created since the Trust take-over does benefit the charity side. The reLitionship with the Club has not changed since the shift in control. Current partnership5. includin8 discounted tlckets to support the Trust and Sts projects. have continued. We would like to thank the Club for their support In the charitsble projects we run. STATEMENT OF TRUST£ES' RESPONSIBllmES The trustees Iwho are also the dlrectors of Chesterfield F.C. Community Trust for the purposes of company lawl are responsible for preparlng the Report of the Trustees and the financial statements In èccordance with applicable law and Unlted Klngdom Attounting Standards Iunited Klngdom Generally Accepted Accountlng Practice). Company law rÈquirÈs the trusteès to prèpare financial statements for each financial year which give a true and fair view of the state of alfalrs of the ¢haritable Company and of the Incoming resources and applicatSon of resources. including the income and expendlture. of th¢ charitable ¢ompany for that perlod. In preparSng those financial statements, the trustee5 are required to selèct suitable actounting polieies and then apply them tonsistentty- observe the method5 and principlp5 in the Charity SORP,. make judgements and estimates that are reasonable and prudent- stste whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. preparè thè financial statements on the going concem basis unless r( is inappropriate to presume that the charitable company will continue in bu5ine55. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financlal positlon of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 20(. They are also spOnSIble for safeguarding the assets of the charitable company and hence for taking reasDnable stepsfor the prevention ènd detection ol fraud and other irregularities. Page 5
Chesterfield F.C. Commu Trust Re rt of the Trustees Y r Ended Ojune 20 srATEMEKf OF TRUSTEES, RESPONSI8ILmES- contlnued In 50 far a5 the trustees are aware: there Is no relevant audot information of whlch the charitable company's audltDf5 are unaware- and the trustees have taken all Steps that they ought to have tsken to make themselves aware of any relevant audit information and to establish that the auditor5 are aware of that Informatlon. AUDITORS The auditors, Sutton McGrath Harrley, wrll be proposed for re-appolfttment at the forthcomln8 Annual General Meeting. Report of the trustees. Incorporating a strategic report, approved by order of the board of trustees, as the company dlrectors, on ...... . and signed on the board's behalf bv: M W Goothwin- Trustee Page 6
Re ort of the lftde ndent Auditors to the Members of Chesterfield F.C. Communlt Trust Opinion We have audited the financial statements of Chesterfield F.C. Community Trust lthe 'charitable company'l for the year ended 30 June 2024 which comprise the Statement of Financial Activitie5, the Balance Sheet, the Cash Flow Statement and notes to the finantial stètements, including a summary of signifiont 4Quting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards Iunlted Kin8dom Generally A¢¢epted A¢¢ounting Practi¢el- In our opinion the financial statements.. 8ive a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incominB resources and application of resources, induding its income and expenditure, for the year then ended,. have been properly prepared In accordance with United Kingdom Generally Accepted Accountlng Practice; and have been prepared in accordance with the requirements of the Companles Art 2006. Basls foroplnlon We conducted our audit in accordance wlth International Standards on Audlting IUKI IISAS IUKII and applicable law. Our respon5ibil¢(ies under those standards are further described in the Auditors, respon5ibilitie5 for the audit of the financial statements sertlon of our report. We are independent of the charitsble company in occordance with the ethlcal requirements that are relevant to our audit of the financial Statements in the UK, includin8 the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our oplnion. Conclusions relatin8 10 going concern In auditin8 the financial statements, we have concluded that the trustees, use of the 80in8 concern basis of accountin8 in the pparatIOn of the finanaal statements Is approprlate. Based on the work we have performed. we have not identified any materlal uncertalntles relating to events or Cond10n5 that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitles of the trustees with respect to golng concern are descrlbed in the relevant sections of this report. Other information The trustees are responsible for the other infom)ation. The other Snformation comprises the Information included in the Annual Report, other than the finènclal statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise expllcitly stated In our report. we do not express any form of assurance concluslon thereon. In connection with our audlt of the flnancial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomiation is materially inconslstent with the finantlal statements or our knowled8e obtained in the audit or othernise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this give5 rise to a materlal mlsstatement in the rinancial statements themselves. If. based on the work we have performed, we tonclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opln5ons on rther matters pregcrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audlt.. the information given in the Report of the Trustees for the financial year for whlch the financial statements are prepared is consistent with the financial ststements,. and the Report of the Trustees has been ppared in accordance with applicable legal requirements. Page 7
Re rt of the Inde ndent Auditor5 to the Membèrs of Che rfteld F.C. Commun Trust Matters on which we ar• requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtalned in ihe course of the audit. we have not identified moterial misstatements in the Report of the Trustees. We have nothing to report in respect of the following m¥tters where the Companies Act 2CQ6 requlres us to report to you if. in our opinion-. adequate accovntin8 records have not been kept or retums adequate for our audit have not been received from branches not visited by us,. or the financial statèmÈnt5 are not in agreement with the accounting records and retums; or certaln disclosures of trustees, remuneratign specified by law are not made.. or we have not received all the informatlon and explanatlons we require for our audlt. Responslbllltles of trustees As explainÈd more fully in the Statement gf Trustees, ResponsibS1itre5, the trustees (who are also the directots of the charitable wmpany for the purposes of company lawl are responsible for the preparation of the financial ststements and for being 5ati5fied that they give a true and fair v, and for such internal ¢ontToI as the trustees dètermine is nècèssary to enable the preparation of financlal staiement5 that are free from materlal misstatement, whether due to fraud or error. In preparlng the financial ststement5. the trustees are responsible for assessin8 the charitable ¢ompany'5 ability to continue as a going concern, di5c105ing, as applicable, matters related to 80ing concern and uslng the goin8 ¢on¢ern basis of accountinB unless the trustees elther intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Page 8
Re rt ofthe Inde ndent Auditorsto the Member5 of Chesterfield F.C. Communi Trust Oui responsibilltlesfor the audlt of the Ilnanclal ststements Our objertives are to obtain reasonable assurance about whether the financial statemenis as a whole are free from material mlsstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that include5 our opinion. Reasonable assurance is a high level of assurance, but Is not a guar3ntee that an audlt condurted in accordance with ISAS IUKI will always detect a material mi55tatement when it exists. Mi55tatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influentt the e¢onomic decisions of user5 taken on the basis of these financial statements. The extent to whlch our ProdureS are capable of detecting itregularities, including fraud is detailed below: Our assessment of the sus¢eptlbility to material mlsstatement, whether by fraud or error, is made in a risk based pproach. In this approach, laws and regulations applicable to the entity, such a5 the Companie5 Art 2006, United Kingdom Generally Accepted Accounting Prartice including Financi31 Reporting Standard 102, Charities SORP, along wlth employment law, safeguarding legislation, data protertion law and Health and Safety law. The policle5 and controls the entlty has in place to comply with these laws are reviewed, by discussion, reviews of correspondence and registratlons monitored by external bodies. The engaBement team remained alert to any indications of fraud or non-compliance with law5 and regulations throughout the audit. Pollcles and controls relating to the rlsk of materlal misstatement as a result of fraud, management override of controls, and revenue recognitions are also considered. These are assessed by obtaining an understsndin8 of the company's operations and control environment. The policies and controls have been reviewed by discussion, review and sample testing of accounting entries, ineludlng journals, challenging assumptions and judgements, reviewing and evaluating related partles tran5a¢tlons, and wlder background Searches. Testing of Inrne reco8nltlon and fund accounting 15 also completed. We have ensured that the engagement team have appropriate levels of competence and experience to effectively monitor thesè risks and carry out WO rèlevant to our assessment of each risk, including consideration of the sector the company gper4te5 in and its 5Trze and complexitv. A further destription of our re5pon5ibilitiès for the audlt of the financlal statements Is located on the Financial Reporting Council's webslte at www.fr¢.or8.uklauditorsresponsSbillties. Thls descrlption forms part of our Report of the Independent Audrtors. Page 9
rt of thè Inde ndent Aud5tors to the Members of Chesterfleld F.C. mmunit Trust Use tyf our report Thi5 report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so thal we might state to the charitable company's members those matters we are required to state to them in an auditor$' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's member5 as a body. for our audit work, for this report, or for the opinions we have fomied. Howard Matthew$ BA FfA (Senior Statutory Audltorl for and on behalf of Sutton McGrath Hartley 5 WestbTook Court Sharrowvale Road Sheffield South Yorkshlre Sii 8YZ Page 10
Chesterf*ld F.C Commun Trust Ststement of Financlal Artlvities for the Year End d un 2024 2024 Total fund5 2023 Total fund5 Unrestrlcted fund Restrlcted hjnds Notes INCOME AND ENDOWMENTS FROM l)onatlons and legaciès 80.543 72883 407,684 Charltable artl¥llies Charitable artivities I,19016 190MIO 1,219,707 Other trading attivities Other income 7,127 632,748 7,127 632,748 32.201 39,542 Trtal 1,91L228 1559,568 1,699,134 EKPENDrruRE ON ¢harltable acti¥lties tivitles undertaken dlrectly Support C05t5 Impairment of shares in associated undert•klngs 1,273.4U 253.881 4A93.066 607,981 1,881,394 257381 4,893x166 1,822,455 223,654 Total 6A20,360 611A81 7.031A41 2,046,109 NET INCOME/IEXPENDITURE} I4.l9.132} 36.859 (4.472273) 1346,9751 RECONCIUATION OF FUNDS Total funds brought forward 5,350,061 4466 5394.927 5,741,902 TOTAL FUIIDS CARRIED FORWARD 840,929 81,7Z5 922,654 5,394,927 The Mltes fomi part of these financial statements Pègell
Balan Sheet 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Note5 FIXED ASSETS Tangible assets Investments 12 13 &579,199 I8236 1,579,199 282,836 1,609.907 5,175,902 1,86103S IW,035 6,785.809 CURRENT ASSErs Debtors Cash at bank and in hand 14 7,289 1340 81.725 89,0 2,340 335,634 45.044 9,629 81,725 91,354 380,678 CREDITORS Amounts falling due within one year 15 1502.681) 1$02,6831 1819,8781 NET CURRENT ASSETS (493M541 81,725 {411,329} {439,2001 TOTAL ASSETS LESS CURRENT LIABILMES IA68.981 81.725 IA50,706 6,346.609 CREDITORS Amount5 falling due after more than one year 16 1513.0521 1513.0521 1936,6821 PROVISIONS FOR UA81LITIES 19 115,0001 115.0001 115,C(Ql ASSETS 840,929 81,725 922ffi54 5,394,927 FUNDS Unrestricted fund5 Restricted funds 20 840829 81,725 5.350.061 44,866 TOTAL FiINOS 921654 5,394,927 The financial statements were approved by the Board of Twstees and authorlsed for issue on and were Signed on its behalf by.. M W Goodwin - Trustee The note5 form part of these financial statements Page 12
Chesterfield F.C. Cornmun Trust sh Flow Statèment for the Year Ended un 2024 2023 Notes Cash flows from operatlng actmtles Cash 8enerated from operations 161.342 756,266 Net cash provlded by operatlng activities 161,342 756,266 Cash flows fvorn financin8 activities New loans in year Loan repayments in year Interest paid Loans transferred to group company 105,(KJO 1380,102) 47,331 323,170 193,1451 38,656 {I,000.0001 Net cash used In flnanclng actSvities {227,7711 1731,3191 Chan¥e in ¢ash cash eqUalents In the reportknl perlod Cash and rash equlvalerts at the be8lnnlng of the reportin8 perlod 1668291 24,947 45,IM4 20.097 Cash and ¢ash equivalents at the end of tho report5n8 period {2¥385) 45,044 The notes form part of these financial statements Page 13
Che5terfleld F.C. Commun Trust Notes to the Cash Flow Stattment forthe Ye* Ended 30 June 2024 RECONCILIATION OF EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTivmES 2024 2023 Net expendlture for the reportlnz perlod las perthe Ststement of FSnanclal Artivitiesl Adjustments fer: Oeprèciation chaiges De(rease/llncreèsel in group debtors Exceptional items Impairment of shares Decrease in dÈbtors Intreaselldecreasel in creditors (4rt712731 1346,9751 30.708 85.812 1498.740} 4.893,066 a634 35,935 135,220 959,406 54.074 145,4591 Net cash provlded by operatlons 161342 756,266 ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash In hand Notice deposits (less than 3 months) Overdrafts induded in bank loans and overdrafts falllng due withln one year 2,156 9,592 35,452 123,7251 Total cash and cash equivalents 121,3851 45,044 ANALYSIS OF CHANGE5 IN NEf DEBT At 117123 Cash flow At 3016124 Net cash Cash at bank and in hand Bank overdraft 45,044 {42.7041 123,7251 123,725) 45,044 166.4291 121.3851 Debt Debts falling due within l year Oebts falling due after I year {419A18} {936,682) 224,930 501,581 {194.4881 (435,1011 {1,356,1001 726,511 1629,589) Totsl (1.31156> 660.082 1650,9741 The notes form part of these financial statements Page 14
Chesterfleld F.C. Commun Notes to the Flnanclal S ement Year En June 2 ACCOUNTING POUCIES Basls of preparkngthe financial statements The financial statements of the charitable company, whlth is a public benefit entity under FRS 102, have been prepared in accordance with the Chaiities SORP (FR5 1021 'Accountirbg and Reporting by Charities: Statement of Recommended Praciice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Finantial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial Statements have been prepared under the historital tost convention, with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. rt is probable that the income will be received the arnourbt can be measured reliably. Expendlture Liabilits"es are recognised as expenditure as soon as thèrè Is a legal or constructive obll8ation mmIttIng the harity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount gf the Dbligatlon can be measured reliably. Expenditure is accounted for on an actruals basis and has been tlasslfied under headln8S that a88regate all c95t related tg the category. Where costs cannot be directly ttributed to partlcular hèadings they have been allocated to acrivhties on a basis consistent with the use of resour5. Tangible fixed a55ets Depre¢iation Is provided at the following annual rate5 in Ofderto write off each asset over its e5tiTnated useful life. Long leasèhold Plant and machinery Straight line over the M3[Alg perlod 20% on cost Taxatlon The charity is exemptfrom corporation tax on Its charitable ¥ctivltles. Fund accguntin Unrestricted fund5 can be used in accordance with the charitable obiectSves at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund 15 included in the notes to the fi'nancial statements. Page 15 continued...
Cheslerfleld F.C. mufl tes to the Flnao)clal Sta ear En ements- ntinued 30 June 2024 iM)NATIONS AND LEGACIES 2024 2023 Donatlon5 Grants Donations Memorlal Garden Donations Chatsworth 80A38 41,287 360,686 3,891 1,820 105 72&883 407,684 Grants recelved, included in the above, are as follows: 2024 2023 Revenue grants NLT grant income 638,340 iO.OOD 333,186 27,500 648340 360.686 OTHER TRADING ACTivinES 2024 2023 Income from tenants Emerging talents 7,127 15,801 16,400 7,127 32,201 INCOME FROM CHARITABIE ACTivmES 2023 Activlty Charitable activtties Income from tralnFng Income from activities and fund ralsin8 s481 628,928 Charitable activities 641,829 590,779 1,190.810 1,219,707 Page 16 continued...
Chestertleld F.C. Cornmunl Trust Notes to the Financial Statements. Continued r the Year Ended 30 June 2024 CHARITABLE ACTIVITIES COSTS Direct Costs Activities undertaken directly Support costs Impairment of share5 in a550ciated undertakings 1,881,394 257.381 4,893,066 7,OYIWII Included in charitable activities 15 a £4,893.066 impairment 1055 relating to the dilution of Chesterfield F.C. Community Trust's shareholding in the associated company CFC 2001 Ltd. Thls is Shown in Note 13 of the accounts. INCOMEI{EXPENOITUREI Net incomellexpenditurel is Stated after char8in8/lcreditin81'. 2024 2023 Depreciation- owned assets 30,708 135,220 TrUSTEÉS' REMUNERAnoN AND BENEFITS There were no tru5tee5' remuneration Dr other benefits for the year ended 30 June 2024 nor for the year ended 30 lune 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. STAFF COSTS 2024 2023 Wages and salaries Social security costs Contributlons to defined contrlbution pension scheme5 1,158,200 64,503 20,696 1,165,440 79,460 18,473 1,243,399 1,263,373 The average monthty number of employees during the year was as follows.. 2024 120 2023 105 Average number of employees Pase 17 continued...
Chestèrf*ld F.C Communlt Trust to the Fln ements- con STAFF COSTS kn contlnued No employees received emoluments in excess of £60,000. The total remuneration for key management personnel, Induding employer's national insurance amoLrnted to £90,917. Durlng the yeartotal penslons of £2,064 were payable to key management personnel. EXCEPTIONAL ITEMS Included in other income are exceptional items in the year totalling £632,748 relating to balan due to CFC 2001 Ltd which have been subsequently written off as a result of the share r&strurture in the football club. io. COMPARATWES FOR THE STATEMENT OF FINANCIAi AcnviTIES Unrestricted fund Re5tritted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and le8acies 53.998 353,686 407.684 Charltable actlvStles Charitable activities 1,027,576 192.131 1,219,707 Othertrading activities Other income 32,201 39,542 32.201 39.542 Total 1.153,317 545,817 1.699,134 EXPENDITURE ON Charitable artlvlties Activities undertaken dirertly Support costs 1,278,532 223,654 543,923 1,822,455 223.654 Tothl 1.$02,186 543,923 2,046.109 NEY INCOME1(EXPENDUREj 1348.8691 1.894 1346,9751 RECONCILIATION OF FUNDS Total funds brought forward 5,698,930 42,972 5,741,902 TOTAL FUNDS CARRIED FORWARD s,350.(1 44,866 S.394.927 Page 18 continued...
Notes to thè FSnanclal Statements. contlnued ar Ended 30 20 IL AUDITORS, REMUNERAMON 2024 2023 Fees payable fty the audit of the annual a¢¢OLrnts 15 20.000 Auditors, remuneration is Included in support costs as part of the charitable activities. 12. TANGIBLE FIXED ASSEfs Lon8 leasehold Plant an machinery Totsls COST At l July 2023 and 30 JunÈ 2024 1,799,185 384 2,184,033 DEPRECIATION At l July 2023 CharBe for year 200,389 26.478 373.737 574,126 30.708 At 30 June 2024 126W67 377,967 604,834 NET BOOK VALUE At 30 June 2024 1,571318 61 L579.199 At 30 June 2023 1,598.796 ii.iii 1,609,907 13. FIXED ASSET INVESTMENTS 2024 2023 Shares Investments 5,175,902 282,836 282.836 5,175,902 There were no investment aetS outside the UK. Investments Ineither li51ed nor unlistedl were a5 follows: 2024 2023 Shares In CFC 2001 Ltd 282.836 In January 2024 CFC 2001 Ltd issued shares leadin8 to Chesterfield F.C. Community Trust no longer being the majority shareholder of the entity. As a result the investment in CFC 2001 Ltd became an associated investment rather than shares in group undertakin8S. Page 19 continued...
Chesterfield F.C Commun Trust e5 to the Flnanclal for the Year E otemenls- cont5nued oj 13. FIXED ASSET INVESTMENTS- contlnued As a result of thls, the dllution resulted In an impairment in Chesterfield F.C. Community Trust's investment of £4,893,066, shown in Note 5. DEBTORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amounts owed by 8roup undertakings Other debtors Prepayments and accrued income 73,974 44,823 85,812 193.780 11,219 10A0 s40 335,634 15. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 20Z4 2023 Bank loans and overdraftslsee note 171 Othèr loans (see note 171 Trade creditors Socral security and other tsxe5 VAT Other creditors A¢¢ruals and deferred income 60,261 157,952 38,761 54,173 47,296 372,122 117.552 189.306 13.464 5,715 74,423 7,389 184,147 502,683 819.878 16. CREDITOR&. AMOUNTS FAiUNG DUE AFTER MORE THAN ONE YEAR Z024 2023 Bank loan5 Isee note 171 Other loans (see note 171 social security and other taxe5 435,101 437,942 498,740 77,951 513M52 936,682 Page 20 contlnued...
Chesterfield F.C. Communit Trust Oles to the Financial Statements- ¢0 In 17. LOANS An anal15 of the maturity of loans is Biven below.. 2024 2023 Amounts falling due within one year on demand.. Bank overdrafts Bank loans Other loans 23,725 36,596 157,952 47,296 372.122 218,213 419,418 Amounts falling between one and fv40 years: Bank loans- 1-2 years 39.678 33.459 Amounts falllng due between two and flve years.. Bank loans- 2-5 years other loans- 2-5 year5 144017 310,258 498,740 144,017 808.998 Amounts falling due in more than five year5: Repayable by instalrnents.. Bank loans more 5 yr by Instal 251,406 94,225 LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 2023 Within one year Between one and flve years 1,528 8,807 1,528 1,528 10,33S Page 21 continued...
Ch eld F.C. Communl o the Finan s-con In 19. PROVISIONS FOR UABIUTIES 2024 2023 Repair provi5i9n IS,OOD 15.CK)O 20. MOVEMENT IN FUNDS Net movement in funds At V7123 At 3016124 Unre#rirted funds General fund 5.350.061 {4,509,1321 840?29 Restrirted funds A Spire Right Social Pre5cribin8 Link Works Christm¥5 HAF Wellbein8- Adult Welght Management 9375 27.484 9,375 33,290 5,806 25 39,035 39,035 4466 36,859 81.725 TOTALFUNDS 5.394927 14A72.2731 922,654 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General lund 1.911,228 (4420.3601 14,509,132) R•strlrted funds Natlonal League Grant A Spire Right PL Kicks Premier League Primary Social Prescrlbing Link Works Camp Inspire Camp Easter Christmas HAF Active For fe lo,> 61,260 a5,IMXI 25.000 524.651 124.817 41,672 19.050 6.890 {io,000) 151.885} 135,0001 125,0001 1297.167) 1124,817) (41,672) (19,050) 16,8901 9.375 27A84 648,340 1611NI) 36.859 TOTAL FUNDS 259.568 17031,8411 {4,472373} Page 22 continued.
Cheslerfleld F.C. Commvnl Trust Notes to the Fbnancial Statements- contlnued r Ended 30 June 202 20. MOVEMENT IN FUNDS- contlnued Comparatlves for m¢)¥ement In funds Net movement In fun(Js At inft2 At 3016123 Unrestrlcted funds General fund 5,698,930 1348,869 5,3SO.061 Restrl¢ted fimds A Spire Higher Social Pre5cribin8 Link Work5 Chri5tma5 HAF Wellbein8- Adult Weight Mana8ement 7,492 115,0201 17,4921 20,826 25 111.4651 5,806 25 39,035 50.5 42.972 1,894 44,866 TOTAL FUNDS 5,741.902 1346,9751 5,394,927 Comparative net movement in fvnds. included in the above are a5 follows: In¢omlng re50urce5 Resources expended Movement in funds Unrestrirted funds General fund 1,153.317 11,502,186) 1348.8691 Restrkted lunds National League Grant A Spire Right A Spire Higher PL KScks Premier League Primary Social Prescribing Link Works Camp Inspire Camp Easter Christmas HAF Wellbeing- Adult Weight Management 33.500 3,150 11.250 40,610 13,377 162,979 83,509 71.147 121.119 5,176 133,5001 13,1501 118,7421 140,6101 113,3771 1142,1531 183,5091 171,1471 1121,0941 116,6411 17.4921 20,826 25 111,4651 545,817 1543,9231 I94 TOTAL FUNDS 1,699,134 12,046,109) 1346,9751 Page 23 continued..-
Che5terfleld F.C. Communft Trust Notesto he Flnan¢lal Statements- contlnu he Year End Ojun 024 MoVEmEP IN FUNDS- continued A Current year 12 months and prior year 12 months combined posltion is as follows: hlÈt movement in funds At 117122 At 3016124 Unrestrirted funds General fund 5,698,930 14,858,(M)11 840.929 Restrkted funds A Spire Right A Spire Higher Social Prescribing Link Work5 Christma5 HAF Wellbeing- Adutt Weight Management 9,375 17,4921 48,310 25 111,4651 9,375 7,492 115,0201 33.290 25 39.035 50.500 42,972 38,753 81,725 TOTAi FUNDS 5,741,902 14,819,248) 922,654 A current year 12 months and prror year 12 monih5 combined net movement in funds, included in the above are s follows.. Incomin8 resources Resource5 expended Movement in funds Unrestrirted fund$ General fund 3,064,545 17,922.5461 14,858,001) Restrl¢ted fund5 Natlonal League Giant A Spire Right A Spire Higher PL Kicks Premier Lèa8ue Primary Social Pres¢ribin8 Link Work5 Camp Inspire Camp Easter Christmas HAF Wellbeing- Adult Weight Management Active For Life 43,500 64.410 11,250 75,610 38,377 487,630 208,326 112,819 140,169 5,176 6,890 143,5001 155.0351 118,7421 175,6101 138,3771 1439,3201 1208,3261 1112,8191 1140,1441 116,6411 16,8901 9,375 17,4921 48,310 25 111.4651 1,194.157 11,155,404) 38,753 TOTAL FUNDS 4,258,702 19,077,950) 14,819,248) National league grant Grant to fund salaries to WO on projects within schools. Page 24 continued...
Chesttrfield F.C. Commun Tr Motes o ihe Fjna forthe Y al Statements- nd Ojun ntinued MOVEMENT IN FUNDS- contlnued A SpirÈ Right Substance mi5U5e programme to help recovery- 6 cohorts of 8 week5. A Spire Higher Educatlon programme for over 18s to learn functional schools- en81ish, maths and tr. PL Kicks Offers opportunitie5 to underrepresented communities to take part in sports. PLPS PSHE sessions In Primary Schoo15 using the power of football to engage young people. Soclal prescribing Vouth soelal prescribing offering to under 18s in and around Chesterfield. Camp Offers holiday camp and meal to thildren who are on free school meals. Christmas HAF Food hampers given out to children on free school meals. Ad weiBht management Weekly session to asstst with wèight loss amongst over 18s. 21. RELATED PARTY DISCLOSURES At the year end the charity had a balance totalling £Nil12023: £85,812> owÈd from CFC 2001 Limited. a company the trust hold5 shares In. Page 25