Docusign Envelope ID". 1 EA02A63-B53949D5-AE2D-D4D165OBFB69 •• 31wiiJp- Premier League Charitable Fund Report and Financial Statements for the year ended 31 July 2021 Company Registration No. 07331384 Registered Charity No. 1137208
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Report and financial statements 2021 Contents Page Off icers and professional advisers Strategic report Report of the Trustees 26 Trustees. responsibilities statement 51 Independent auditor's report 32 Statement of financial activities, incorporating an income and expenditure account 36 Balance sheet 37 Cash flow statement 38 Notes to the financial statements 39
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier League Charitable Fund Company Re9iStration No.07331384 Off icers and professional advisers Board of Trvstees Tim Godwin, OBE QPM (Chair) Bill Bush (Premier League) 8obby Barnes (Professional Footballers, Association) Christine Davies, CBE Gail Scott-spicer (McKay) Tom Finn General Manager Ruth Shaw Audit and Risk Committee Tom Finn (Chair) Christine Davies, CBE Legal status The Premier League Charitable Fund I"PLCF") is a company limited by guarantee (Company number07331384) incorporated in the United Kingdom and registered in England and Wales. It is registered with the Charity Commission under registration number 1137208. Registered Office 8runel Building 57 North Wharf Road London W2 IHQ Bankers 8arclays Bank PLC I Churchill Place London E145HP Solicitors Mccormick's Solicitors Wharfedale House 37 East Parade Harrogate North Yorkshire HGI 5LQ Auditor Deloitte LLP Statutory auditor Hill House l Little New Street London EC4A 3TR
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier League Charitable Fund Company Re9iStration No.07331384 Strategic report A message from the Chair: This year has not been without its challenges,. the implications of the Covid-19 pandemic continue to impact individuals, families and communities across the nation. The support of the charitable sector has never been more important and I'm proud ofthe support that the PLCF, through the organisations it funds, has offered to those that needed it most in this difficult year. The Premier League Charitoble Fund Board took a decision early on that PLCF would once again maintain existing grant payments to Club Community Organisations (CCOs} at originally agreed levels for the 2020-21 delivery year, to ensure CCOS across the Premier League, EFL and National League, could continue to support their workforce and communities. It is a testament to the drive, determinotion and agility of the Clubs and CCOS that even in these exceptional circumstances they were able to provide much needed support to their communities by adapting delivery to meet local need. An example of this was the Premier League Kicks Holiday Activity initiative. In partnership with Barclays, the initiative saw over 3,000 young people offered three-days of Premier League Kicks multi-sports, workshops and nutritional meals in December 2020. 73 CCOS delivered the initiative and it also included the launch of the #WeAreOneTeam sociol action project supported by England and Manchester United ployer, Marcus Rashford. An outstanding example of the power of football to deliver change for good and one that l am proud the charity could be a part of. Collaboration and partnership continue to be key elements of ensuring we can continue to positively impact and change lives. Over the year relationships have strengthened with colleagues and partners such as the Premier League, National Football League, Professional Footballers, Association, Sport England, Barclays, the Football Association (FA), BBC Children in Need and the
iwill Fund, through a common purpose and real need.
This year has also been one of self-reflection for the charity and its Board, with a focus on its long- term goals and objectives. These reflections saw the launch of a new five-year strategy as well as strategies for two extremely important areas, Equality, Diversity and Inclusion and Mental Health and Wellbeing ensuring both are embedded at the heart of everything we do from Board level to on the ground delivery of programmes. We have taken strides to ensure our organisation, the organisations we fund, and our programmes, are inclusive and prioritise positive mental wellbeing, with a wealth of training opportunities and resources provided to both the CCOS and PLCF staff. We understand that there is still more to be done and action plans and Committees have been created to ensure this work continues to be driven forward. Looking ahead to the 2021/22 season we want to continue to see young people in their communities supported and given the opportunities they need to achieve their full potential. We will also mark the 15-year anniversary of the Premier League Kicks programme and the five-year anniversary of the Premier League Primary Stars Programme. We will take the opportunity to look back on the positive impact the power of football has already had on so many lives and celebrate the individuals and organisations that were instrumental in delivering this positive change. It will also be a chance to reflect on those successes and take steps to ensure we continue to remain agile in a constantly changing world to offer the best service possible to the beneficiaries we serve now, but also in the future. It is my continued pleasure and privilege to lead the organisation as we celebrate these two milestones, and I look forward to the ways in which the PLCF will continue to serve the needs of children and young people and build stronger, safer and more inclusive communities for generations to come. Tim Godwin 08E QPM PLCF Chair of Trustees
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Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 July 2021 Restricted Funds 2021 Restricted Funds 2020 Notes Income from,. ,Donations linvestments 30,182,761 40,361,322 8,603 144,756 Total income 30,191,364 40,506,078 Expenditure on; Charitable activities,. Community Cohesion IEducation 22,964,469 23,200,470 10,595,822 11,380,569 Total expenditure 33,560,291 34,581,039 Net (expenditure)/income for the year before and after tax 13,368,927) 5,925,039 Funds brought forward 21,209,754 15,284,715 Funds carried forward 17,840,827 21,209,754 There were no other recognised gains or losses other than those listed above and the net income for the year. All income and expenditure derives f rom continuing activities. 36
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Balance sheet As at 31 July 2021 2021 2020 Notes Current assets Debtors 8,478 Cash and cash equivalents Short term deposits |Cash at bank and in hand 14 21,500,000 36,942 18,188,739 18,188,739 21,545,420 'Creditors: amounts falling due within one year 1347,912) 1335,666) Total assets less current liabilities being net current assets 17,840,827 21,209,754 Restricted funds 17,840,827 21,209,754 Total fvnds 17,840,827 21,209,754 These f inancial statements of the charity Premier League Charitable Fund registered charity number 1137208 were approved by the Trustees and authorised for issue on 15 December 2Qkkl signed on their behalf by.. T Godwin Chairman, PLCF 37
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Cash flow statement For the year ended 31 July 2021 2021 2020 Notes Net cash inflow from operating activities 13 13,356,806) 1,556,787 Cash flows from investing activities: ,Changes to short term deposits over 3 months linterest received 21,500,000 {2,500,0001 8,603 144,756 Increase/(decrease) in cash and cash equivalents in the year 18,151,797 (798,4571 Cash and equivalents brought forward 14 36,942 835,399 Cash and equivalents carried forward 14 18,188,739 36,942 38
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Accounting policies The Premier League Charitable Fund, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. The Trustees comply with the provisions of the Statement of Recommended Practice ISORP 20191 'Accounting and Reporting by Charities ISORP 20191, applicable to charity preparing their accounts in accordance with financial reporting standard applicable in UK and Republic of Ireland IFRS 102), effective l January 2019, and Companies Act 2006. The principal accounting policies adopted, which have been applied consistently in the current year, are described below. These financial statements have been prepared on a going concern basis as the Trustees are satisf led that the Charity has sufficient financial resources for at least 12 months from the date these accounts were signed. This assessment has been made taking regard of the current levels of cash, the known incomefor the next 12 months and assessing the likely level of charitable expenditure over the same time period within each restricted fund,. please refer to the 'Reserves" and "Going concern" sections of the report of the trustees on pages 26-27 for additional informatiorL The functional currency of the charity is sterling, being the currency of the country in which it operates. Accounting convention These accounts are prepared under the historical cost convention. Fund accounting Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor. Further details of each fund are disclosed in note 9. Income All income is included in the Statement of Financial Activities I'SOFA,) when the charitable company is legally entitled to the income and the amount con be quantified with reasonable accuracy. The following specific policies apply to categories of income: Donations are recognised in the SOFA when receivable unless the donor specifies that the grant or donation must only be used in particular financial accounting years or the donor has imposed conditions which must met before the charity has unconditional entitlement, in which case the income is deferred,. Where income is received in advance of its recognition, it is deferred and included in creditors,. Where entitlement occurs before income is received, the income is accrued,. and Investment income is recognised on a receivable basis. Donated staff time received from the Premier League has not been recognised in the financial statements as it is not practicable to quantify the cost. Cost of charitable activities This includes all expenditure directly related to the objects of the Charity. This consists mainly of assessing grant applications and making and monitoring grants. It also includes support costs representing staff ing and associated costs. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, they have been recognised as support costs and allocated to activities on 39
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 a basis consistent with use of resources. The allocation of support cost is agreed on an annual basis by the Trustees, as part of the budget process. No support costs have been applied to Other programmes as minimum grant making activity and stafF time has been spent on these activities. Grants are charged to the SOFA when a constructive obligation exists. Where grants are awarded over a number of years, future instalments of the grants are dependent upon the satisfactory fulfilment of the PLCF'S monitoring and quality assurance requirements. PLCF reviews projects at least annually to approve future instolments of the gronts. Governance costs Governance costs are the costs associated with the governance arrangements of the Charity. Included within this category are costs associated with the strategic as opposed to day to day management of the Charity's activities. These costs are shown in note 5. Pension costs For defined contribution pensions the amount charged to the prof it and loss account in respect of pension costs and other post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet. Irrecoverable VAT Irrecoverable VAT is charged as an expense in the SOFA and ollocated tothe same category as the associated expense. Financial assets and liabilities Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. Financial assets are derecognised when and only when la) the contractual right to the cash flows from the financial asset expires or is settled, (b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or Ic) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all its liabilities. All financial assets and liabilities are initially measured at transaction price (including transaction costs) unless the arrangement constitutes a financing transaction, when the financial asset or financial liability is measured at the presentvalue ofthe future payments discounted at a market rate of interest for a similar debt instrument. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash highly liquid investments. Creditors and provisions ore recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised ot their settlement amount after allowing for any trade discounts due. 40
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Critical accounting judgements and key sources of estimation uncertainty In the application of the Charity's accounting policies, which are described in this note, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Artual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no critical accounting judgments or key sources of estimation uncertainty at the reporting date. Donations Income from donations comprises: 2021 2020 |Grant income- FA Premier League |Grant income- PFA |Grant income- Sport England |Grant income- #iwill Fund ' |Grant income- Barclays PLC |Grant income- Comic Relief," Grant income- South Yorkshire Police Grant income- Children In Need |Grant income- MOPAC |Other donations Total 20,192,500 8,400,000 30,430,000 8,400,000 107,733 500,000 500,000 125,000 125,000 108,300 135,000 666,667 666,667 150,000 23,594 13,622 30,182,761 40,361,322 'The #iwill Fund is an England wide joint investment that brings together funding from the Department for Digital, Culture, Media and Sport and The National Lottery Community Fund, creating a central investment pot. '£125k IFY20.' £75k) of funding from this funder is the result of a tripartite agreement with BT Group. 41
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Analysis of expenditure Year ended 31 July 2021 Grants to Direct Support institutions costs costs Total 2021 Community Cohesion., PL Kicks PLPFA Community Other 10,482,184 11,137,924 151,806 443,439 92,744 358,021 10,992,011 298,351 11,879,714 92,744 21,620,108 687,989 656,372 22,964,469 Education; PL Inspires PL Primary Stars 2,029,082 7,077,326 55,182 897,200 179,011 2,263,275 358,021 8,332,547 9,106,408 952,382 537,032 10,595,822 30,726,516 1,640,371 1,193,404 33,560,291 Support costs have been allocated on a basis consistent with use of resources,. no support costs hove been allocated to Other as no direct activities were completed by PLCF staff on these projects in the current year or prior year. 42
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Analysis of expenditure (continued) Analysis of expenditure Year ended 31 July 2020 Grants to Direct Support institutions costs costs Total 2020 Community Cohesion., PL Kicks PLPFA Community Other activities 10,770,500 11,120,815 233,550 410,023 92,869 312,389 11,316,439 260,324 11,791,162 92,869 21,891,315 736,442 572,713 23,200,470 Education; PL Inspires PL Primarystars 2,129,500 7,295,000 37,046 1,450,439 156,195 2,322,741 312,389 9,057,828 9,424,500 1,487,485 468,584 11,380,569 31,315,815 2,223,927 1,041,297 34,581,039 CCO Grant payment analysis Number Number of Non of Non cco cco 2021 2020 Number Number of CCO of CCO 2021 2020 £0 to £500k £501k to £lm £lm+ 67 26 29 Total 93 94 43
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Analysis of expenditure (continued) The above grants are paid to a number of organisations to carry out the approved projects. CCOS and other orgonisations can apply for grants under a number of different programmes. As described in the Trustees, report, PLCF invited applications from CCOS from the Premier League, English Football League and Nationol League. The largest single programme grant given in the year was £250k (2020: £250k) and the largest total grant given to a single CCO was £961k (2020.. £1.12m). Net income/(expenditure) is stated after charging: 2021 2020 Fees payable to the company's auditor for the audit of the companls annual accounts 14,400 10,920 Direct and support costs Direct Support costs costs 2021 2021 Direct Svpport costs costs 2020 2020 Total 2021 Total 2020 Staff costs External project support other expenses Office overheads Governance Costs 885,433 885,433 1,640,371 2,223,927 200,871 92,700 14,400 661,735 661,735 2,223,927 275,942 92,700 10,920 1,¢540,371 200,871 92,700 14,400 275,942 92,700 10,920 1,6L10,371 1,193,404 2,833,775 2,223,927 1,041,297 3,265,224 staff costs and numbers 2021 2020 Employee costs during the year amounted to: Wages and salaries Social security Pension Other employee benefits 712,305 81,131 80,970 11,027 535,906 | 61,481 | 56,994 | 7,354 | 885,433 661,735 44
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 staff costs and numbers (continued) The average headcount analysed by function was.. 2021 No. 2020 No. Administration and management 14 li | During the current year, the following employees, emoluments {excluding employer pension costs) exceeded £60,000: Employees Employees 2021 2020 No. No. Band: |£60,000 to £70,000 |£70,000 to £80,000 £ioo,000 to £llO,000 During the year, pension contributions on behalf of these staff amounted to£17,76812020: £13,229) Key management personnel are represented by one individual, being the General Manager of the PLCF. The total remuneration {including Employers, Nl and pension costs) for key management personnel in the period totalled £122,10012020: £122,633). The pension liability outstanding at year-end was nil12020: Nil). Debtors: amounts falling due within one year 2021 2020 Prepayments and accrued income 8,478 | 8,478 | 45
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Creditors: amounts falling due within one year 2021 2020 Accruals 347,912 335,666 | 347,912 335,666 | Restricted funds Balance BIF from Donation Investmen 2020 Income t Income Direct and support costs Total C/F 2021 Grants paid PL Kicks 7,867,088 9,684,167 PL PFA Community 6,959,430 11,824,258 PL Inspires 2,252,474 2,185,742 PL Primary Stars 3,366,267 6,115,000 'other' Restricted funds 764,495 373,594 2,581 110,482,184) 1509,828) 6,561,824 2,151 111,137,924) 1741.7901 6,906,125 1,290 12,029,082) 1234,1931 2,176,231 2,581 {7,077,3261 {1,255,2211 1,151,301 {92,7431 1,045,346 Total restricted funds 21,209,754 30,182,761 8,603 130,726,516) 12,833,775) 17,840,827 Restricted funds (2020) Direct and support cost5 Balance 8/F from Donation 2019 Income Total C/F 2020 Investment Income Grants paid PL Kicks 4,805,407 14,334,693 PLPFA Community 6,246,820 12,246,991 PL Inspires 1,152,486 3,401,016 PL Primary Stars 2,165,668 10,215,000 Players, Kits Scheme, 'other' Restricted funds 43,427 36,189 21,713 43,427 110,770,500) 1545,9391 7,867,088 111,120,815) 1670,3471 6,738,838 {2,129,5001 1193,2411 2,252,474 {7,295,0001 11,762,828) 3,366,267 220,592 693,742 220,592 {92,869) 764,495 163,622 Total restricted funds 15,284,715 40,361,322 144,756 {31,315,815113,265,224121,209,754 46
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 Restricted funds (continued) 'As at the start of the Yinancial Year 202L these programmesweremerged/transferred as per following. Total C/F 2020 Merge with Transfer amount Surplvs PL Kicks PL PFA Community PL Inspires PL Primary Stars 7,867,088 6,738,838 2,252,474 3,366,267 7,867,088 6,959,430 2,252,474 3,366,267 220,592 PLPFA Community Players, Kits Scheme 'other' Restricted funds 220,592 {220,592) 764,495 764,495 Total restricted f unds 21,209,754 21,209,754 Note- Internal transfers are approved by the PLCF Board and any funding partners of those progrommes. Funds received f rom principal donors are for specific projects including external project support and general administration costs. The internal transfer represents the agreed reallocation of the fund to its related programme. The main projects represent: PL Kicks PL Kicks derived from the originol 'Kicks' programme which began in 2006. PL Kicks looksto engage 8t0 19 years oldsfrom high need areas in football and other sports. Sport acts as the engagement tool allowing the positive CCO role models to provide guidance and opportunities such as volunteering and qualifications to enable young people on the programme to move into positive pathways, be it in sport or education/employment. Delivered by 91 clubs, PL Kicks combines sports participation to promote a sporting habit for life with positive social outcomes, such as contributing towards a reduction in crime and anti-social behaviour. PLPFA Community The Premier League Professional Footballers, Association Community Fund empowers individual professional football clubs to work in collaboration with local strategic partners to meet the needs of their local communities in key areas such as education, community cohesion and sports participation. PL Inspires PL Inspires is an education programme for 11 to 18 years olds that uses the workings of a football club and its brand to introduce young people to the basic principles of business and enterprise. The programme has been running for over eight years. 47
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 The PL currently partners with Sport Reliefto deliver the programme. The partnership includes the Premier League and Sport Relief Enterprise Challenge, an annual event where teams of young people work with clubs to develop solutions to a real football business task. Premier League Primary Stars (PLPS) Premier League Primary Stars focusses on providing children and young people with a holistic whole person offer. It incorporates access to high quality coaching opportunities in football and multi-sport delivered by clubs, leading to enhanced physical literacy and fundamental movement skills. In addition, it also involves the delivery of Personal, Social, Health and Economic {PSH E) education, literacy and numeracy, all using the unique assets of Clubs to engage young people. Funding is used to deliver in-school activity and is utilised f lexibly at a local level to ensure that CCOS can provide an offer that meets the needs of partner schools. The PLPS offer includes highly developed Premier League digital resources which can be used by teachers in areas that are geographically remote from clubs, as well as adding value to club delivery. The website includes resources covering English, maths, PE and PSHE. The resources also connect learning to the real world of sport, helping teachers to enthuse pupils when tackling challenging topics such as resilience, diversity, self-esteem and fair play. The final element of delivery is built around competitions, events and incentives. These range from national football tournaments to creative writing competitions, whilst registered schools have been able to apply for free sports kit and equipment, book boxes and PL values packs. 10. Future project funding Following the three year agreement with the Premier League, which was signed in October 2019, PLCF intends to continue its programme of project funding over the next e1ve months. This is expected to total £96.Im over three years of which c£65m has been paid out as grants. The remaining amount of £31.Im is to be paid out in season 2021/22. However, future instalments of the grants are dependent upon the satisfactory fulfilment of the PLCF'S monitoring and quality assurance requirements for the duration of the grant agreement and funding being received from funding partners to enable the PLCF to provide the grants. Due to the continued negative impact of COVID-19, there has been a c.£240k underspend from the grants provided in season 2020/21 which will be off-set against grant payment in season 2021/22. 11. Taxation PLCF is a registered charity, No. 1137208, which benefits from corporation tox exemptions available to charitable bodies. On the basis that its activities fall within its charitable purposes and its funds are applied only for these purposes, no provision for corporation tax or deferred tax is made. 12. Related party transactions and Trustees. remuneration All Trustees give of their time f reely and no Trustee remuneration was paid in the year. One Trustee is a paid Director of Premier League,. he is not remunerated for his role as a Trustee. Trustee expenses are reimbursed strictly on the basis of expenses incurred necessarily and 48
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 wholly for the purposes of the Charity's expenses, being principallytravel and accommodation expenses. Due to COVID-19,there were no trustee expensesduring this financial year12020.' two trustees, £1,762). There are no other related party transactions. Two members of the board of trustees are also a member of the PLCF'S key funding partners. We are satisfied that conflicts are managed in a satisfactory manner. 13. Reconciliation of net income/(deficit) to net cash inflowfrom operating activities 2021 2020 Net (deficit)/income for the year Interest received Decrease/(increase) in creditors Decrease in debtors (3,368,927) 5,925,039 | 18,6031 1144,756)1 12,246 14,348,51811 8,478 125,022 Net cash {outflow)/inflow from operating activities {3,356,8061 1,556,787 14. Analysis of cash and cash equivalents Short- term deposits over Total 3 months 2021 2020 Short-term deposits over 3 months 2021 Cash 2021 Cash 2020 Total 2020 Short-term deposits over 3 months 21,500,000 21,500,000 Total Short- term deposits 21,500,000 21,500,000 Cash at bank and in hand 18,188,739 18,188,739 36,942 36,942 Total 18,188,739 18,188,739 21,500,000 36,942 21,536,942 15. Post Balance Sheet Events Due to the continued impact of the COVID-19 pandemic, we have been notified that in the season 2021/21 the funding from PL will be reduced by £2m. Whilst conditions continue to be challenging, the Premier League hos received Government supportforan Exclusion Orderwhich will enable their current domestic broadcast agreementsto be extended foranother three year period from the season 2022/23. Subject to further discussions, agreements and unforeseen 49
Docusign En¥ÈlopÈ ID." 1EA02A6&853W49D&AE2D-D4D1650BFB69 The Premier Leagve Charitable Fund Company Registration No. 07331384 Notes to the financial statements (continued) For the year ended 31 July 2021 circumstances, the Premier League have stated the intention to return donations to the PLCF to pre-pandemic levels in the 2022-25 funding-cycle. 50