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**Manchester City FC City in the Community Foundation**
**(a company limited by guarantee) Report and financial statements Year ended 31 August 2022**
**Registered number 07447531 Registered charity number 1139229**
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
|**Contents**|**Page**|
|---|---|
|Reference and administrative details|2|
|Report of the Trustees|3|
|Trustees’ responsibilities statement|17|
|Independent Auditor’s Report to the members of Manchester City FC City in the Community Foundation|18|
|Consolidated Statement of Financial Activities (including Income and Expenditure Account)|21|
|Consolidated and Charity Balance Sheet|22|
|Consolidated Statement of Cash Flows|23|
|Notes to the Financial Statements|24|
pg. 1
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Reference and Administrative Details**
## **Trustees**
R K Ballantine S R Cliff P J D Loftus K B Parker T N Pitchon S M Todd D Wilson V C Kloss C Onuoha
## **Secretary**
K Parry
## **Key Management**
Head of City in the Community Michael Geary City in the Community Ambassador Alex Williams Finance Director Karen Parry Senior Operations Manager Lisa McKay Senior Partnerships Manager Sam Dainty HR & Talent Manager Natalie Ingham Communications Manager Rachel Cummins
## **Registered Office**
City Football Hq, Etihad Campus, 400 Ashton New Road, Manchester, M11 4TQ
## **Charity number**
1139229
## **Company number**
07447531
## **Bankers**
Barclays Bank, Manchester City Office, PO Box 357, 51 Mosley Street, Manchester, M60 2AU
## **Auditor**
BDO LLP, 3 Hardman Street, Spinningfields, Manchester M3 3AT
## **Solicitors**
Gateley LLP, Ship Canal House, 98 King Street, Manchester, M2 4WU
pg. 2
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees**
The Trustees present their annual report and the financial statements for the year ended 31 August 2022.
## **Directors and Trustees**
The Directors of the Charitable Company are its Trustees for charity law and throughout this report are collectively referred to as the Trustees.
The Trustees who held office during the year were as follows:
Chartered Accountant Mr Patrick Joseph Dominic Loftus Company Director Mr Robert Kevin Ballantine Chief Executive Ms Sara Maria Todd Trafford Council City Football Group Mr Thomas Nissim Pitchon Manchester City FC Mr Daniel Wilson City Football Group Mr Simon Richard Cliff Company Director Mr Kevin Barry Parker City Football Group Mrs Victoria Clare Kloss Football TV Pundit & Former Professional Player Mr Chinedum Onuoha (appointed 21/10/2021)
Following the year ended 31 August 2022, the following changes have been made:
Victoria Clare Kloss resigned on 5 October 2022 Carolyn Macnab (City Football Group) appointed on 17 April 2023 Gary Tipper (Company Director) appointed on 17 April 2023
## **Governing Document**
Manchester City FC City in the Community Foundation (CITC) is a recognised charity in England and a company limited by guarantee. It operates under the rules of its memorandum and articles of association dated 22 November 2010. The management of the Charity is the responsibility of the Trustees who meet on a quarterly basis to administer it.
## **Appointment of Trustees**
The existing Trustees select new Trustees, when they consider that a new skill set is needed or when a vacancy has occurred due to resignation or death.
## **Trustees Induction and Training**
New Trustees undergo an induction and ongoing training to brief them on their legal obligations under charity and company law.
pg. 3
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## _**Manchester City FC City in the Community Foundation**_
## Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Organisation**
The Board of Trustees (BoT) during the year had nine Trustees. Following year end the changes noted above have taken place. The BoT has the provision to increase or decrease the figure as required.
The Trustees are responsible for the following:
- Setting the vision, mission and values.
- Development of the strategy with the Head of Foundation and approval of the business plan.
- Approval of the financial plan and annual budget.
- Responsible for overseeing the risk management .
- Responsible for review, approval and adoption of policies and procedures, unless it is delegated in writing to a particular person, position, or working group, committee or management team.
The senior management team are responsible for implementing the above for the Trustees and are responsible for the day-to-day running of the Foundation.
The Charity has a wholly owned subsidiary, Manchester City F.C. CITC Foundation Trading Company Limited.
## **Pay policy for senior staff**
The directors consider the board of directors, who are the foundation’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the foundation on a day-to-day basis. All trustees give of their time freely and no trustee received remuneration in the period. Details of trustees' expenses and related party transactions are disclosed in note 16 to the accounts. The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees benchmark against pay levels in other local football Foundations of a similar size. The remuneration benchmark is the mid-point of the range paid for similar roles adjusted for a weighting of up to 30% for any additional responsibilities. If recruitment has proven difficult in the recent past, a market addition is also paid with the pay maximum no greater than the highest benchmarked salary for a comparable role.
## **Objectives & Activities of the Charity**
The objectives of the Charity are:
- To promote any charitable purpose for the benefit of the community in the United Kingdom and overseas for the general purposes of such charitable bodies as the trustees may from time to time decide.
- To relieve poverty and economic deprivation within the community by such means as the Trustees think fit including, (but not by way of limitation) by providing financial and other material assistance to those in need.
- To promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving heath.
- To provide and assist in providing facilities for sport, recreation and other leisure time occupation of such persons who have need for such facilities due to their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life.
- To advance the education of children and other persons (including their academic, social and physical education) through such means as the trustees think fit in accordance with the law of charity.
All objectives are set and measured across a three-year period with specific, strategic objectives named above, being broken down into more operational and thus measurable objectives.
pg. 4
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Objectives & Activities of the Charity** (continued)
As shown in the CITC 2022 – 25 Strategy document, CITC has three core strategic priorities for the 2022 – 25 period:
## 1. **Visibility -** _**Increasing awareness, understanding, and advocacy**_
- Increasing awareness, understanding, and advocacy to internal and external stakeholders through a range of communication channels and formats of information.
- Aiming to grow our brand and digital footprint.
- Performance measured against KPI’s as set out in the CITC Communications Strategy.
To understand our progress all key stakeholders are surveyed at the end of each season providing insight regarding progress made and helping to shape priority audiences for the following year. During the summer 2022 survey, the key findings indicated that fans and staff reported the lowest amount of improvement in terms of awareness and understanding, these two groups have therefore been prioritised for the 2022/23 season.
## Visibility KPI’s:
1. Grow total social media audiences by 10% per year (new followers) and increase the conversion rate of views/ reach to engagement.
2. Raise the average level of awareness amongst all key engaged stakeholders 0.5 each season (measured out of 10).
3. Maintain or grow levels of interest amongst all stakeholder groups.
4. Increase the likelihood of stakeholders volunteering and or engaging in CITC events and activities.
## _2._ **Sustainability -** _**Lasting long-term impact for our communities, environment, and our people**_
Strategically CITC believe that sustained investment into all community programmes will create sustained impact. Between September 2021 and August 2022, over £3 million was invested into Manchester communities via the direct delivery of a range of community initiatives.
With the effects of the COVID pandemic still having a huge impact on many businesses and charities, it is credit to the relationships that CITC have built over many years that we were able to maintain our levels of funding during the 2021/22 financial year and subsequently maintain all staff positions within the charity both in-year and offer extensions beyond August 31[st] for a further 12 months.
The strategic priority of ‘Sustainability’ encompasses CITC’s ambition for long-term sustained investment into the community programmes we deliver and the communities we serve to support whilst ensuring the stability, security and longevity of the charity.
We are also passionate about sustaining our people by investing in their learning and development leading to professional opportunities for progression within the charity. In order to retain talented staff and attract new talent to the organisation we are committed to regularly reviewing staff hygiene factors.
As a charity we have a final ambition related to sustainability which is to contribute towards the Club’s goals for environmental sustainability aiming to be net zero by 2030.
## 3. **Inclusivity**
Inclusivity was highlighted consistently throughout workshops with both our BoT and the CITC leadership and wider management team, being an inclusive charity is a core value that stems back to the heritage of not only CITC but the football club itself.
There are three key workstreams that have been identified as contributing factors against this objective: o Delivering activations and achieving desired outcomes outlined in our EDI Strategy.
o Aiming to achieve a close representation of the demographic of Manchester both within our workforce and the participants we engage with.
o Becoming more authentically youth led/ youth informed.
pg. 5
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
To measure our performance against this strategic priority the following KPI’s have been implemented:
- Number of EDI campaigns and/ or awareness days/weeks actively supported (Target is to deliver a minimum of 12 per year).
- Achievement of EDI Objective – Improved awareness, attitudes, and behaviours towards EDI topics within the young people we work with in Manchester (not currently being measured).
- Representation – achieve a closer representation of the demographics of Manchester across our participants engaged (this will utilise the census data for Manchester and allow direct comparison with the demographics of our participant database).
- Youth Engagement/ Youth Led Initiatives.
- Target to involve a minimum of 500 participants in youth consultation each year.
- To deliver at least 1 youth led project (designed, planned and delivered by young people) each year.
## **Values:**
To achieve the objectives set out above we have agreed with our trustees and staff, through an inclusive engagement process, a set of shared values that underpin the work of the foundation. These values are:
Caring: Putting people first. Being compassionate and helping our people (participants, peers, and partners). Showing pride and passion in our work.
Inclusive: Valuing, respecting and supporting all individuals and communities through inclusive and accessible opportunities that break down barriers to participate and achieve their full potential.
Transformative: Causing positive change to our people and their communities through programmes which are influential, inspiring, innovative, and individualised.
Youth Led: Empowering and involving young people, providing the opportunity to participate meaningfully in decisions that affect them.
## **Our Methodology:**
In order to achieve our charity’s objectives, all CITC programmes are delivered with a consistent strategy and methodology which is defined as:
_We will achieve tangible, meaningful impact through regular, sustained & high-quality contact time between our staff and the participants they engage with._
pg. 6
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## _**Manchester City FC City in the Community Foundation**_ Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Our Activities:**
Simplifying our communication about our programmes and our impact has been a focus point over the last 12 months and has led to the development of three core pillars defining the aims and grouping programmes as shown below:
|**HEALTHY PEOPLE**|**HEALTHY FUTURES**|**HEALTHY COMMUNITIES**|
|---|---|---|
|We nurture healthy people by putting
physical activity and mental wellbeing
at the centre of our programmes.|We build healthy futures through
education and employability pathways.|We connect people by creating healthy
communities in safe, inclusive
environments.|
|**Programmes:**
City Play
Primary Stars
Soccer Schools
City Thrive
Walking Football
Military Vets
Reminiscity|**Programmes:**
City Girls
Inspires
BTEC
Degree
93:20 Volunteering
City Careers|**Programmes:**
Kicks
One City Disability
City Play Together
Safe Spaces to Play (Healthy Goals)|
## **Short Term Aims & Objectives (current financial year ending August 2023):**
- Refurbishment of CITC office space.
- New Partnerships development.
- Enhance player engagement.
- Continue to develop aspects of our work that bring to life our ambition to be more youth led and utilise the voices of young people to tell impact stories.
- Raise awareness and understanding of EDI topics with youth led discussion and content creation.
- Utilise the 2021/22 Census Data to review our participant representation of Greater Manchester and use this information to help shape decisions made for future delivery priorities.
- Develop closer working relationship with Greater Manchester Police to work together in tackling youth violence in Manchester.
- Complete the development of a new brand toolkit for CITC as part of the Club’s re-branding project.
- Development of additional community football pitches (refurbishment/ regeneration of existing pitches) in partnership with Manchester City Council and The Football Foundation.
## **Medium Term Aims & Objectives (August 2024):**
- Review and improve the fundraising function of CITC aiming to raise increased amounts of unrestricted funding.
- Development of additional community football pitches (refurbishment/ regeneration of existing pitches) in partnership with Manchester City Council and The Football Foundation.
- Enhance the monitoring and evaluation of CITC’s work to develop more robust impact reports that are stakeholder appropriate (including more detailed research papers demonstrating impact and ROI).
- Develop the work of CITC relating to environmental sustainability working closely with the Club to add value to existing workstreams.
## **Public Benefit**
In shaping our objectives for the period and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit. Over the last twelve months, CITC has continued to invest in the wider monitoring and evaluation initiative that has been developed over recent years. This project allows the charity to review the impact of all projects on both an outputs and outcomes led framework allowing the charity to highlight the benefit created for those engaged across all community projects. The development of a robust outcome framework has been instrumental in driving this function of the charity forward while additional resource in this area has been created to support the internal team, as this continues to grow, while ensuring key information is collected, reviewed and where relevant, provided to all external partners and associated organisations. It is imperative that constant project reviews are taking place to allow the charity to continue to learn, develop and progress across all areas.
pg. 7
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Public Benefit** (continued)
Furthermore, CITC is committed to continuing our long history of investing into local communities within Manchester through key partnerships at both a strategic and operational level. Partnerships have come from a range of sectors namely public, private, charitable and the Premier League. The relationship between the charity and the Club, Manchester City FC, continues to flourish and thrive with the Club providing in-kind support across a significant range of functions including but not limited to HR, payroll, infrastructure, catering and facilities maintenance. CITC have also invested in support resource, namely Safeguarding/IT/HR, to ensure additional support is in place for all outwardly facing staff.
## **2021 – 22 Impact:**
## **Outputs:**
- 18,967 Unique participants engaged in CITC programmes.
- 22,420 Community sessions delivered by CITC staff.
- Average contact time per participant of over 31 hours.
- 442 Qualifications achieved by programme participants.
## **Outcomes:**
- 86% of participants improved their physical health and wellbeing.
- 80% of participants improved their mental health and wellbeing.
- 82% of participants felt inspired and engaged.
- 83% of participants developed their skills and knowledge.
- 81% of participants improved their confidence and self-esteem.
Additional to the above-named support and impact demonstrated, CITC have continued to benefit from the wider CFG investment in facilities in East Manchester with a range of projects being delivered within the City Football Academy. This amounts to approximately 60 hours of football led projects on a weekly basis creating unique opportunities for young people and their families from the local communities to engage in inclusive football-led health and education projects within a world leading facility. In total during the 2021-22 reporting period, over 11,500 local people attended sessions adding up to over 1,500 hours at the Etihad Campus (including both the Etihad Stadium and the City Football Academy). The combination of providing access to City Football Academy facilities and our outreach work in communities across Greater Manchester in educational and leisure facilities allows us to maximise the reach and engagement with the people of our city ensuring opportunities are inclusive and accessible.
## **Related Parties**
The Trustees consider that Manchester City Limited and its subsidiary Manchester City Football Club Limited are related parties of the Charity.
All trustees and senior management of the charity have completed and signed related parties agreement documents.
The Chair of Trustees and ‘external’ trustees receive no remuneration for their roles. ‘Internal’ trustees who are employees of the related parties noted above receive remuneration for their employed roles however there is no additional remuneration or benefits associated with their role of trustee for the charity.
## **Investment and Reserves Policy**
Total reserves at the end of the reporting period are £1,659,536. The restricted fund amount is £172,333 and unrestricted (excluding fixed asset) reserves are £1,487,203.
The Foundation will retain adequate reserves to cover expenditure arising from standard operations.
Reserves will stem from unrestricted funds (i.e., funds that are not earmarked by funders for any specific project or programme and can be deployed at the Trustee's discretion to meet our charitable objectives). Restricted funds (i.e., funds that are ear marked by funders for specific charitable projects or programmes) will thus not count towards the charity’s reserves.
With the evolving complexity of the charity's operations, which now employs in excess of 100 staff and the level of funding being drawn down to be in the region of £3m, it is important that the risk with regards to future expenditure and potential unforeseen emergencies such as an unexpected repair bill or legal costs should be mitigated.
pg. 8
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Investment and Reserves Policy** (continued)
Operational costs are also worth noting, these will be costs such as additional staff members to cover long-term sick/absence.
It may well be that a source of income i.e., grant is discontinued suddenly and unexpectedly and therefore reserves would be needed to help wind a programme down responsibly or to give the charity some time to find another funder to continue the programme.
There will also be planned commitments that cannot be met by future income alone (e.g., a new programme-requiring match funding or infrastructure required to build the charity's capacity to fund raise and grow over time such as new software and systems).
Reserves can also be used for short-term deficits in the cash flow, e.g., money may need to be spent before a grant is received, if funders pay part of their grants retrospectively.
We currently endeavour to maintain reserves sufficient to cover a minimum of 3 months operating expenses, but due to the changes in the financial climate and recommendations released by Charity Commission we now feel it may be prudent to increase our reserves to a minimum of 6-month operating expenses.
Our total current reserves are £1,659,536, the minimum reserve amount of 3 months operating costs equates to £768,460, therefore our current total reserves exceed the desired 6 months operating costs.
Considering the above statement regarding a desire to increase our reserves from 3 to 6 months operating expenses, we are now conducting a process to establish a new reserves policy and support this with an income generation plan.
The reserves policy will be reviewed regularly by Trustees to ensure it continues to meet the evolving needs of the charity as it broadens in complexity and reach.
Where fundraising events are held specifically for an existing or new programme it may be required that these funds will be ring-fenced for the following year/s and classed as designated funds in the unrestricted reserves.
## **Donated services**
The Charity receives excellent support from Manchester City Football Club Limited to the extent that premises and football facilities are provided, also editorial space in match day programmes is granted, free of any charges. There is also support from the various departments within the club to share their expertise with the charity.
The donated services are detailed further in Note 16 of the ‘Notes to the financial statements’ section.
## **Achievements and Performance:**
In addition to the outputs and outcomes highlighted in a previous section, there are some additional highlights from the 2021-22 reporting period including:
- An all staff volunteering initiative where over 100 staff collectively gave their time to sort, pack and distribute over 45,000 essential items including food, clothes, toys and toiletries to 10 local charities supporting homeless people, families in need, and children’s homes.
- Donating over 5,000 Christmas presents, one for every child attending primary school in the East Manchester area and every child in foster care in Manchester.
- Providing 600 families across Manchester with a Christmas Day meal for up to 6 people.
- Supported the delivery of an online young leader summit while delivering training in over 14 cities globally.
- Provided over 4,600 free healthy meals.
- Provided over 2,600 hours of free football.
pg. 9
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Organisational Performance:**
During the 2021-22 reporting period each key function of the charity had a set of KPI’s to track and monitor performance which is demonstrated below:
|||**FINANCE**|**FINANCE**|||
|---|---|---|---|---|---|
|**KPI**|**Target**|**YTD**|**Difference +/- **|**Performance %**|**Overall**
**Performance**
**%**|
|Revenu
e|£3,228,000|£3,570,023|+342,023|111%|110%|
|Cost|£3,390,000|£3,081,324|-308,676|110%||
||**OPERATIONS**|**OPERATIONS**|||||
|---|---|---|---|---|---|---|
||**Target**|**YTD**|**+/- **|**Performance**
**%**|**Ave. %**||
|Unique Participants|18,000|18,926|+926|105%|||
|Sessions Delivered|18,000|21,931|+3,931|122%|||
|Contact Timeperparticipant(hours)|20|29|+9|145%|||
|Qualifications Achieved|250|291|+41|116%|||
||||||||
|Improvephysical health & wellbeing|90%|86%|-4%|96%|||
|Improve mental health & wellbeing|80%|80%|0%|100%|||
|Feel inspired & engaged|80%|82%|+2%|103%|||
|Developtheir skills & knowledge|80%|83%|+3%|104%|||
|Improve confidence & self esteem|80%|81%|+1%|101%|||
*The % figures for outcomes above are based on participant surveys completed by participants across the range of CITC programmes. The surveys consist of between 2 and 4 indicator questions per outcome listed above.
||**COMMUNICATIONS**|**COMMUNICATIONS**|**COMMUNICATIONS**|||
|---|---|---|---|---|---|
||**Target**|**YTD**|**+/- **|**Performance**
**%**|**Ave. %**|
|Grow total social media audiences
by10%(new followers)|5,673|18,376|+12,703|324%|185%|
|Raise the average level of awareness
amongst all key engaged
stakeholders by0.5(7.5 to 8)|8|8.1|0.1|101%||
|Maintain or grow levels of interest
amongst all stakeholder groups
(6.8/10)|6.8|8.8|2|129%||
pg. 10
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## _**Manchester City FC City in the Community Foundation**_ Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
**Organisational Performance** (continued)
||**PARTNERSHIPS**|**PARTNERSHIPS**|||||
|---|---|---|---|---|---|---|
||**Target**|**YTD**|**+/- **|**Perf. %**|**Ave. %**||
|Number of newpartners secured|5|7|+2|140%|||
|Partner Revenue Secured(£)|£300,000|£344,601|+£44,601|115%|||
|Partner Benefits Delivered|60|66|+6|110%|||
|Number of engagements at OSC
Meetings & OSC Events|24|29|+5|121%|||
||||||||
||**FUNDRAISING**||||||
|Total funds raised|£268,500|309,000|+£40,500|115%|||
|Number of fans engaged in
fundraisingevents/activities|2,000|1845|-155|92%|||
|Number of fundraising events and
activities delivered|6|6|0|100%|||
||**PEOPLE**|**PEOPLE**||||
|---|---|---|---|---|---|
||**Target**|**YTD**|**+/-**|**Perf. %**|**Ave. %**|
|Number of team members
identifying, working towards and
achieving developmental objectives
within PDRs|65|64|-1|98%|128%|
|Number of Safeguarding training
interventions delivered|7|13|+6|186%||
|Number of EDI campaigns and/ or
awareness days/weeks actively
supported|12|12|0|100%||
## **Summary of Performance vs KPI’s:**
## Performance vs KPI Targets
**----- Start of picture text -----**
200% 185%
180%
160%
128% 129%
140%
110% 112% 112%
120%
100%
80%
60%
40%
20%
0%
**----- End of picture text -----**
pg. 11
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## _**Manchester City FC City in the Community Foundation**_ Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Organisational Performance** (continued)
Communications KPI #1 re Social Media Growth has elevated the Comms Overall performance indicating the target was too low, (324% vs target). If we were to reduce/ limit this to match the performance in Comms KPI #3 at 129% then the overall Comms performance would be 120%; this would reduce the CITC Overall to 116%.
## **Grant making**
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
The provision for a multi-year grant is recognised at its present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the Trust that would permit the Trust to avoid making the future payment(s), settlement is probable, and the effect of discounting is material. The discount rate used is the average rate of investment yield in the year in which the grant award is made. This discount rate is regarded by the trustees as providing the most current available estimate of the opportunity cost of money reflecting the time value of money to the Trust.
There have been no grants awarded in this period.
## **Charitable Donations**
Donations includes monies raised by Manchester City FC City in the Community Foundation, payable to:
£37,397 of Puma footballs that were given away during the Christmas Campaign
£2,500 to 4CT Limited for food bank donation
£2,500 to Emmie’s Kitchen for food bank donation
£2,500 to Bridging the Gap for food bank donation
£1,000 for toys for Christmas Campaign
£6,273 to Murdered Abroad as part of a fundraising campaign
£6123 to Macmillan Cancer Support as part of a fundraising campaign
## **Financial Review**
The financial year runs from 1[st] September 2021 to 31[s t] August 2022. This period has shown an increase in income from the previous year. This is mainly due to the increase in our BTEC provision at Connell, Ashton, Cheadle and Oldham Colleges, there was also an increase in numbers for the Degree programme at Manchester Metropolitan University. Fundraising has also seen a rise with many local and global donations and grants for our Covid Recovery Project.
Please see Going Concern regarding the financial impact from Covid-19.
The Trustees report a net surplus in funds for the period of £ 488,699 (2021: £487,045). Total income for this period came to £3,828,923 (2021: £3,662,691). The net surplus in funds carried forward is now £1,659,536 (2021: £1,170,837).
pg. 12
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_**Manchester City FC City in the Community Foundation**_ Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Trading**
The Trading Company was formed in April 2012.
The purpose of the Company is to enable the Foundation to sell signed merchandise and to receive Sponsors hips from external companies.
The profits from this Company will be gifted to the Foundation.
During the year under review, the Trading Company has continued with the sponsorships from PZ Cussons, Ubtech and Music Magpie. There has also been a new sponsorship from CSM Sport & Entertainment.
## **Fundraising**
All Fundraising is led by two members of staff and supported by the wider team. We would normally have 5 main fundraising events each year and 4 to 5 small events which take place on some of the matchdays. The main events are advertised on Just Giving to enable participants to raise funds on-line. The smaller events are raffle ticket sales at Matchdays. All proceeds of these events are unrestricted funding for the Foundation.
City Football Group launched a Fundraising for Recovery project which CITC were part of. We launched a Global Giving site and raised funds which was in turn match-funded by City Football Group as part of their initiative to support the local community and for the launch of our new Mental Health Programme.
## **Going Concern**
The 2022-23 financial year is the first year of the Premier League 2022-25 funding cycle, however, at present Premier League have only committed to one year of funding with a view to confirming longer term sustainable funding for all the charities they fund before the current year ends. The level of funding received from Premier League remains at a very similar level to previous years and although the term of funding confirmed is a concern, our relationship with the Premier League and our proven track record of delivering high quality community programmes and meeting Premier League targets gives us confidence that the funding will continue for the foreseeable future.
With a substantial number of staff employed by the charity and the demands of the cost-of-living crisis, there is an element of concern because of our commitment to pay at/ above the Living Wage Foundation rate. The rate is subject to annual review (usually announced in November each year) so the concern related to this is that we have no control over the implemented increase amount, and it is difficult to predict when budgeting for the following financial year. To support the financial sustainability of the charity we are working hard to develop and grow the income generated through partnerships, new/ additional grant funding, and fundraising activities.
Based on the guidance of the Charity Commission, another financial challenge that is worth noting is the level of reserves held by the charity, recent guidance recommends charities work towards a minimum of 6 months' salary costs in reserves which is an increase from our current level of reserves held. We are working with our board of trustees to develop an income generation plan for the next 2 to 3 financial years to gradually increase our reserves.
## **Income**
Premier League - Management is expecting the contracted income to be received as planned in the next 12- month period which, delivery has been ongoing and regular updates have been provided to Premier League.
Schools Sport Programme and other activities - The charity has been able to provide both face to face and online activities, we have also been able to support with IT and holiday hunger at various schools to enable us to continue to deliver their income activities. Trustees are expecting income levels for the 12-month period, to be revised to take into account current and forecasted SLA’s signed. We are hopeful there will be an increase in schools signing up to the programmes for the forthcoming academic year.
EFSA Linked Grants – Trustees are expecting this income to continue for the 12- month period as these have already been received by the Universities and Colleges and is government backed funding along with the Universities/Colleges continuing their curriculums as planned.
pg. 13
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Expenditure**
Staff Costs - Trustees expect that the staff levels will be maintained in order to deliver the planned income generating activities, however these costs are continually reviewed to ensure they fall in-line with the income received.
Nevertheless, considering the uncertainties described above, the trustees have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
## **Governance Code**
The Trustees have adopted the Charity Governance Code for Larger Charities.
We have also completed and met the terms of the Premier League’s Capability Code of Practice. There are 14 areas this policy covers: Structure, Affiliated Club, Governance & The Board, People, Strategy, Safeguarding, Finance, Equality, Diversity & Inclusion, Data Protection, Risk Management, Health & Safety, Incident Reporting, Impact, Communications. This is specifically for us to achieve the Premier League funding.
The work with the Premier League on the Capability Code of Practice will continue to ensure it remains up to date and fit for purpose.
## **Board Review update**
During July 2022, the Chair of Trustees led a full and thorough review of the Board of Trustees (“the Board”) including one-to-one consultation meetings with each of the Trustees. The following key areas were discussed:
- Executive performance and trustee interaction
- Strategy
- Board make up and performance
- Club relationship
- CFF relationship
- Chairman’s performance
- Trustee tenure
The appointment and replacement of Trustees for CITC is a complex dynamic and there are specific skills and experience that are required including but not limited to:
1. Financial expertise
2. Consumer experience
3. Charity experience
4. Sports sector understanding
5. Human Resources
6. Compliance and safeguarding experience
7. Local authority knowledge
8. Boardroom experience
It is also important that the Board includes key members of The Executive of City Football Group as Trustees who individually have deep experience of CITC and as with the current members bring a significant amount to the charity both individually and collectively.
Whilst some of the Trustees have been in place for extended periods, following the appointments of Gary Tipper and Carolyn McNab, seven new Trustee appointments and four resignations have been made in the last seven years. Additionally, it was noted that the chief Executive was in his first year in role and that the leadership team needed hands on support. In line with the Charity Governance Code where Trustees have been in place beyond a period of nine years a complete review of the appropriateness of each Trustee’s role was undertaken and The Board concluded that the specific mix of skills was appropriate and that further changes to the Trustee group would not be beneficial to the Charity at this point in time. The Board committed to performing a detailed review each year.
pg. 14
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Principal Risks and Uncertainties**
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to anticipate their exposure to major risks. A full risk register document is held detailing risks related to Governance, Compliance, Operations, Safeguarding, Environment, EDI, and Communications. For this document the financial risks have been included below:
|uded below:|||
|---|---|---|
|Potential risk|Potential impact|Steps to Mitigaterisk|
|Budgetarycontrol
and financial
reporting|•Budgetdoes not match key objectives andpriorities.|•Linkbudgetto businessplanningand objectives.|
||• Decisions made on inaccurate financial
projections or reporting.|• Monitor and report in a timely and accurate way.|
||• Decisions made based on unreliablecosting data or
incomeprojections.|
•Use propercosting procedures for productorservice
delivery.|
||• Inability tomeetcommitmentsorkey objectives.|• Ensure adequateskillsbase to produceand interpret
budgetary andfinancial reports.|
||• Poor credit control.|• Agree procedures to reviewand action budget/cash flow
variancesandmonitor andcontrolcosts.|
||• Poor cash flow and treasurymanagement.|•Regularlyreview reservesand investments.|
||•Ability tofunctionas going concern.|• Regularly review concerns related to sustainability of
funding.|
|Reservespolicies|• Lack offunds or liquiditytorespond to newneedsor
requirements.|• Link reserves policy to businessplans,activities
and identified financialand operating risk.|
||•Inability to meet commitments orplanned
objectives.|• Regularly review reserves policy andreserve levels.|
||• Reputational risks ifpolicycannot bejustified|• Frequent interaction between citc communications|
|Cashflow
sensitivities|• Inability to meet commitments.|•Ensure adequatecash flowprojections (prudence
ofassumptions).|
||•Lack ofliquidityto covervariance in costs.|•Identifymajor sensitivities.|
||• Impact on operationalactivities.|• Ensureadequateinformationflow from operational
managers.|
|||• Monitor arrangements and reporting.|
|Compliance with
donor-imposed
restrictions|• Future relationship with donor and
Beneficiaries.|• Process for donor transactions ensuring receipt of donated
funds is provided.|
||• Regulatory action.|• Review of regulatory guidance for charities receiving
donations.|
|Fraud or error|• Financial loss.|• Review financial control procedures.|
||• Reputational risk.|• Segregate duties.|
||• Loss of staff morale.|• Set authorisation limits.|
||• Regulatory action.|• Agree whistle-blowing anti-fraud policy.|
||• Impact on funding.|• Review security of assets.|
|||• Identify insurable risks.|
|Counter party risk|• Financial loss.|• Research counter party’s financial sustainability.|
||• Disruption to activities or operations.|• Contractual agreement.|
|||• Consider staged payments.|
|||• Agree performance measures.|
|||• Monitor and review investments.|
|||• Establish monitoring and review arrangements
where counter party is the charity’s agent
(‘conduit funding’arrangements).|
pg. 15
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Report of the Trustees** _(continued)_
## **Plans For The Future**
Physical & Mental health and wellbeing of youth and young people in Manchester will be a core focus for CITC in the coming years under the headline of ‘Empowering better lives through football’.
Additionally, investing in and creating ‘Safe Spaces to Play’ across Manchester has been identified through stakeholder engagement and feedback as a priority for CITC to focus on.
As outlined in our 2022-25 strategy, we have identified two key elements to our approach.
**1. Be Unique**
**2. Be Impactful**
1. **Be Unique** - The vision is to stand out from the crowd of other football club charities, some of the ways we aim to achieve this are:
- Becoming more authentically youth led/ youth informed.
- Designing and implementing innovative programme curriculums to provide creative solutions to local social issues.
- Highlight the participant pathway and the journey from 2 years old through to employment.
- Authentically engaging our family of fans, staff, players and partners to improve lives.
- Connecting the young people of Manchester more closely to the global network of young people engaged with around the world.
2. **Be Impactful** - The vision is to plan, develop and deliver life changing programmes with clear, tangible and positive impact for the people we engage with in Manchester. Some of the ways we aim to achieve this are:
- Focusing on the impact of our work through increased contact time with participants.
- Delivering high quality programmes with pride and passion.
- Connecting impact to communications to demonstrate success stories.
- Agreeing and communicating effectively, a set of shared goals and values for all staff to strive towards (see page 6 ‘Values’)
- Striving for continual improvement by embedding a progressive learning culture and adopting a critical evaluation process that is led by the core purpose.
## **Statement as to disclosure to our auditors**
In so far as the Trustees are aware at the time of approving our trustees’ annual report:
- there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group’s auditor is unaware; and
- the Trustees have each taken all steps to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
This Trustees’ Report is signed by P J Loftus on behalf of the Board of Trustees.
PJD Loftus Director & Trustee 31-05-2023 | 1:05:56 PM BST
pg. 16
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Trustees’ responsibilities in relation to the financial statements**
Trustees’ responsibilities
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Charity and Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity and company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently.
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006/Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
PJD Loftus Director & Trustee 31-05-2023 | 1:05:56 PM BST
pg. 17
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **INDEPENDENT AUDITOR’S REPORT TO MEMBERS AND TRUSTEES OF MANCHESTER CITY FC CITY IN THE COMMUNITY FOUNDATION**
## **Opinion on the financial statements**
In our opinion, the financial statements:
- give a true and fair view of the state of the Group’s and of the Parent Charitable Company’s affairs as at 31 August 2022 and of the Group’s incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements of Manchester City FC City in the Community Foundation] (“the Parent Charitable Company”) and its subsidiary (“the Group”) for the year ended 31 August 2022 which comprise the consolidated statement of financial activities, the consolidated and charity balance sheet, consolidated statement of cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## _Independence_
We remain independent of the Group and the Parent Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
## **Conclusions related to going concern**
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent 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 responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude 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.
pg. 18
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **INDEPENDENT AUDITOR’S REPORT TO MEMBERS AND TRUSTEES OF MANCHESTER CITY FC CITY IN THE COMMUNITY FOUNDATION** (continued)
## **Other Companies Act 2006 reporting**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report, which includes the Directors’ Report and the Strategic report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic report and the Directors’ Report, which are included in the Trustees’ Report, have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the Parent Charitable Company, or returns adequate for our audit have not been received from branches not visited by us; or
- the Parent Charitable Company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
## _Extent to which the audit was capable of detecting irregularities, including fraud_
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
## _Non-compliance with laws and regulations_
Based on our understanding of the Group and the sector in which it operates; discussion with management and those charged with governance and obtaining an understanding of the Group’s policies and procedures regarding compliance with laws and regulations; we considered the significant laws and regulations to be the applicable accounting framework, being the Charities Act, Companies Act, and Charity Commission for England and Wales (Charity Commission) regulations.
pg. 19
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
**INDEPENDENT AUDITOR’S REPORT TO MEMBERS AND TRUSTEES OF MANCHESTER CITY FC CITY IN THE COMMUNITY FOUNDATION** (continued)
Our procedures in respect of the above included:
- Review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
- Review of financial statement disclosures and agreeing to supporting documentation;
- Review of legal expenditure accounts to understand the nature of expenditure incurred; and
- Review of serious incidents register and reports.
## _Fraud_
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:
- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- Obtaining an understanding of the Group’s and the Parent Charitable Company’s policies and procedures relating to: o detecting and responding to the risks of fraud; and
- internal controls established to mitigate risks related to fraud.
- Review of minutes of meetings of those charged with governance for any known or suspected instances of fraud;
- Discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be income recognition with regards to performance conditions; fund classification and management override of controls.
Our procedures in respect of the above included:
- Testing a sample of journal entries throughout the year, which met a defined risk criteria, to supporting documentation; and
- Testing a sample of income throughout the year to supporting documentation for both income recognition and fund classification.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:
https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
Sarah Anderson (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Manchester, UK 31 May 2023
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
pg. 20
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## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Consolidated Statement of Financial Activities** _**(Including income and expenditure account)**_
|**Year ended 31 August 2022**|||**Unrestricted**
**funds**
**2022**|**Restricted**
**funds**
**2022**|**Total**
**funds**
**2022**|
Total
funds
2021
(asrestated)|
|---|---|---|---|---|---|---|
|||**Notes**|**£**|**£**|**£**|£|
|**Income from:**|||||||
|Donations and legacies||**2a**|1,044,476|219,102|**1,263,578**|979,781|
|Other trading activities||**2b**|145,735|-|**145,735**|213,727|
|Income from charitable activities||**2c**|7,000|2,412,610|**2,419,610**|2,465,784|
|Other income||**2d**|-|-|-|3,398|
|**Total income**|||**1,197,211**|**2,631,712**|**3,828,923**|3,662,690|
||||||||
|**Expenditure:**|||||||
|Costs of raising funds||**3a**|(524,075)|(76,458)|**(600,533)**|(662,304)|
|Expenditure on charitable activities||**3b**|(242,734)|(2,489,472)|**(2,732,206)**|(2,506,003)|
|Othercosts||**3c**|(7,485)|-|**(7,485)**|(7,338)|
||||||||
||||||||
|**Total expenditure**|||**(774,294)**|**(2,565,930)**|**(3,340,224)**|(3,175,645)|
||||||||
|**Net income before transfers**|||**422,917**|**65,782**|**488,699**|487,045|
|**Transfer between funds**||**4**|**(71,970)**|**71,970**|**-**|-|
|**Net income and net**
**movement in funds for the year **|||**350,947**|**137,752**|**488,699**|487,045|
|**Reconciliation of funds**|||||||
|Total funds brought forward|||**1,136,256**|**34,581**|**1,170,837**|683,792|
|**Total funds carried forward**||**4**|**1,487,203**|**172,333**|**1,659,536**|1,170,837|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities. See note 18 for details of the prior period restatement.
The notes on pages 24 to 43 form part of these financial statements.
pg. 21
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Consolidated and Charity Balance Sheet as at 31 August 2022**
## **Company No: 07447531**
||||**Group**
**2022**|Group
2021|**Charity**
**2022**|Charity
2021|
|---|---|---|---|---|---|---|
||**Notes**||**£**|£|**£**|£|
||||||||
|**Fixed assets**|||||||
|Tangiblefixed assets|**8**||**-**|-|**-**|-|
|Investments|**9**||**-**|-|**1**|1|
|**Total fixed assets**|||**-**|-|**1**|1|
||||||||
|**Current assets**|||||||
|Debtors|**10**||**46,822**|36,166|**45,622**|22,966|
|Cash at bank|||**2,353,030**|1,856,594|**2,345,775**|1,849,882|
|**Total current assets**|||**2,399,852**|1,892,760|**2,391,397**|1,872,848|
||||||||
|**Creditors**|||||||
|Amounts falling due within one year|**11**||**(740,316)**|(721,923)|**(734,376)**|(713,174)|
|**Net current assets**|||**1,659,536**|1,170,837|**1,657,021**|1,159,674|
||||||||
|**Total assets less current liabilities**|||**1,659,536**|1,170,837|**1,657,021**|1,159,675|
||||||||
|Amounts falling due after one year|**12**||**-**|-|**-**|-|
||||||||
|**Net assets**|||**1,659,536**|1,170,837|**1,657,021**|1,159,675|
||||||||
||||||||
||||||||
|**Total funds of the charity**|||||||
|Unrestricted income funds|||**1,487,203**|1,136,256|**1,484,688**|1,125,094|
|Restricted income funds|||**172,333**|34,581|**172,333**|34,581|
|**Total charity funds**|**4, 14**||**1,659,536**|1,170,837|**1,657,021**|1,159,675|
|The company has taken advantage of the exemption under section 408 of the Companies Act 2006 and has not presented its own
Statement of Comprehensive Income in these financial statements. The net movement in funds of the parent Company for the year was
£497,346 (2021: £490,833).|||||||
The notes on pages 24 to 43 form part of these financial statements. The financial statements were approved and authorised for issue by the Trustees and were signed on its behalf on
PJD Loftus Director & Trustee 31-05-2023 | 1:05:56 PM BST
pg. 22
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
_**Manchester City FC City in the Community Foundation**_ Year Ended 31 August 2022
||||
|---|---|---|
|**Consolidated Statement of Cash Flows for the year ended 31st August 2022**|||
||**2022**|2021|
||**£**|£|
|**_Cash flow operating activities_**|||
||**488,699**|487,045|
|**Net income/(expenditure) for the year (as per the statement of financial activities)**|||
|_Adjustments for:_|||
|Interest from investments|**(2650)**|(1,001)|
|(Increase) / Decrease in Debtors|**(10,656)**|51,139|
|(Decrease) / Increase in Creditors|**18,393**|(5,524)|
||||
|**Net cash generated from operating activities**|**493,786**|531,659|
||||
|**Cashflows from operating activities**|||
|**Net cash generated from operating activities**|**493,786**|531,659|
||||
||||
|**Cashflows from investing activities**|||
|Interest from investments|**2,650**|1,001|
|**Net cash generated from investing activities**|**2,650**|1,001|
||||
|**Net increase in cash and cash equivalents**|**496,436**|532,660|
||||
|Cash and Cash Equivalents at beginning of the year|**1,856,594**|1,323,934|
||||
|**Cash and Cash equivalents at the end of the year**|**2,353,030**|1,856,594|
pg. 23
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year ended 31 August 2022
## **Notes to the financial statements**
## **1 Accounting policies**
Manchester City F.C. City in the Community Foundation is a company limited by guarantee and incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the company information page and the nature of the company’s operations and its principal activities are set out in the trustees' report.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of preparation**
The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2020) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Manchester City FC City in the Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The presentation currency of these financial statements is Sterling. All amounts in these financial statements have been rounded to the nearest £1.
## **Basis of consolidation**
The financial statements consolidate the results of the charity and its wholly owned subsidiary Manchester City FC CITC Foundation Trading Company Ltd on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.
The Charity has taken advantage of the exemption in section 408 of the Companies Act 2006 from presenting its individual Statement of Financial Activities. They have also taken advantage of the exemption in paragraph 1.12b of FRS 102 from preparing an individual Statement of Cash Flows, on the basis that it is a qualifying entity and the Consolidated Statement of Cash Flows, included in these financial statements, includes the Charity’s cash flows.
## **Going Concern Policy**
Through regularly forecasting we have closely monitored our income and expenditure and presented revised forecasting to the board of trustees. The revised forecasts and cash flow projections indicate that the Charity shall be able to generate sufficient funding for the 12-month period from signing of the financial statements based on estimated income levels.
The Charity has confirmed funding secured for the 23/24 financial year from grant funding, public sector grants and private sector partnerships with the addition of funds raised by the charity’s fundraising activities.
Therefore, the trustees have an expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
.
pg. 24
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **1 Accounting policies (continued)**
## **Income**
Income shown in the Statement of Financial Activities represent amounts receivable in relation to donations, coaching fees, contributions, subscriptions and grants. The income is recognised when we have entitlement of funds and performance conditions are met as set out in the relevant contract or service level agreement. Such income is only deferred when the donor specifies that the grant or donation must be used in future accounting periods or the donor has imposed conditions that must be met before the Charity has unconditional entitlement. Amounts received with such conditions are included within deferred income and released to income in the relevant year.
## **Donated services**
The Charity receives donated facilities of office premises and use of the football pitches from related parties which are valued at the value of the gift to the Charity. It also receives support of key personnel from related parties, however it is not possible to value this support. See note 16 for detail.
## **Expenditure**
All expenditure is accounted for on the accruals basis and is recognised when incurred. In particular:
- a) the costs of raising funds represent a proportion of the Executive Manager's salary;
- b) the expenditure of charitable activities represent all costs of the Charity except those apportioned to governance and costs of raising funds; and
- c) other expenditure represents those items not falling into any other heading.
## **Grant making**
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive a one-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
## **Charitable Donations**
Donations paid to charities principally represent donations by donor clients and are charged to the Statement of Financial Activities (SOFA) when both the Group and beneficiary charities are notified in the normal course of business of an unconditional obligation to transfer funds. Amounts to be paid at a future date are included in creditors.
## **Support Costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities in proportion to direct expenditure incurred. Support costs are allocated as set out in the funding application across all programmes. The support costs for this year have been calculated at 14% for restricted costs and 47% unrestricted costs.
pg. 25
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **1 Accounting policies (continued)**
## **Fixed assets and depreciation**
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred if the replacement part is expected to provide incremental future benefits to the group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. This will only apply to items of a greater net value of £1,000. The estimated useful lives range as follows:
|Computer equipment|25% per annum|
|---|---|
|Vehicles|20%per annum|
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within ‘other operating income’ in the statement of comprehensive income.
## **Investments**
Investments in unlisted company shares, which have been classified as fixed asset investments as the company intends to hold them on a continuing basis, are recognised at cost, with an impairment review done at each balance sheet date. Gains and losses on re-measurement are recognised in profit or loss for the period.
## **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 discounts due.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are 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 at their settlement amount after allowing for any trade discounts due.
## **Fund structure**
Unrestricted funds are funds that can be used in accordance with the charitable objects of the charity at the discretion of the trustees.
Designated funds form part of the charity's unrestricted funds but have been earmarked by the charity for a particular purpose.
The Charity has restricted income funds to account for situations where a donor requires that a donation must be spent on a particular programme or purpose. All other funds are unrestricted income funds.
pg. 26
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **1 Accounting policies (continued)**
## **Pensions**
The Charity operates a defined contribution scheme for employees. The cost of pensions is accounted for on an accrual basis.
## **Operating lease commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the life of the lease.
## **Financial instruments**
Financial liabilities and equity are classified according to the substance of the financial instruments contractual obligations, rather than its legal form.
The company’s cash at bank and in hand and trade and other debtors and its trade and other creditors and bank overdrafts are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
If a transaction constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest, except where loans are received from a person who is within a director’s group of close family members and that group contains a shareholder of the company, then these are initially recorded at transaction price, and subsequently at amortised cost using the interest rate implicit in the contract.
Investments in unlisted company shares (financial asset) are carried in the statement of financial position at fair value with changes in fair value recognised in profit or loss if their fair value can be measured reliably. Otherwise, they are carried as cost less impairment.
## **Foreign currency**
Foreign currency transactions are translated at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated at the rates ruling at the balance sheet dates. Any differences are taken to the profit and loss account.
## **Holiday pay accrual**
A liability is recognised to the extent of any unused holiday pay entitlement that has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
## **Taxation and Deferred Tax**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Profit from the trading entity, Manchester City FC CITC Foundation Trading Company Limited, are gift aided and as such the group does not attract a tax charge.
pg. 27
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **2 Income**
## **2A – Donations and legacies**
|**2A – Donations and legacies**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|**Unrestricted**|||
|Donations|**570,576**|463,221|
|Grants – Premier League|**215,000**|230,000|
|Grants – Other|**-**|-|
|Donated Services (note16)|**258,900**|264,620|
||**1,044,476**|957,841|
|**Restricted**|||
|Donations|**219,102**|21,940|
|Grants – Premier League|**-**|-|
|Grants–Other|**-**|-|
||**219,102 **|21,940|
||||
|**TOTAL**|**1,263,578**|979,781|
See note 18 for details of the prior period restatement.
|**2B – Other trading activities**|**2022**|2021|
|---|---|---|
||**£**|£|
|**Unrestricted**|||
|Fundraising events|**97,735**|124,227|
|Sponsorships|**48,000**|89,500|
||**145,735**|213,727|
See note 18 for details of the prior period restatement.
pg. 28
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **2 Income (continued)**
## **2C–Income from charitable activities – current year**
||**Premier**|||||||
|---|---|---|---|---|---|---|---|
||**League**
**Grant**|**Big Lottery Grant**||**ESFA Grant**|**Other sources**|**2022**|2021|
||**£**|**£**||**£**|**£**|**£**|£|
|**Restricted**||||||||
|Kicks/Disability/Targeted|243,000||-|-|154,537|**397,537**|374,856|
|Pitches Project|-||-|-|9,267|**9,267**|25,000|
|Ashton College BTEC|-||-|57,304|-|**57,304**|97,896|
|Cheadle College BTEC|-||-|77,700|-|**77,700**|98,700|
|Oldham College BTEC|-||-|139,750|-|**139,750**|107,500|
|MMU Degree|-||-|225,896|-|**225,896**|202,166|
|Cityzens Giving Project|-||-|-|-|**-**|-|
|City Thrive|-||-|-|120,818|**120,818**|55,973|
|Connell College BTEC|-||-|154,830||**154,830**|161,245|
|Xylem|-||-|-|16,445|**16,445**|-|
|Armed Covenant|-||-|-|7,917|**7,917**|-|
|School Sports Programme|140,000||-|-|367,251|**507,251**|513,712|
|Princes Trust|-||-|-|95,787|**95,787**|39,732|
|Soccer Schools|-||-|-|1,320|**1,320**|70.428|
|Inspires|70,000||-|-|196,400|**266,400**|225,833|
|City Play|250,000||-|-|84,388|**334,388**|333,800|
|City Lifestyles|-||-|-|-|**-**|158,775|
||**703,000**||**-**|**655,480**|**1,054,130**|**2,412,610**|2,465,616|
|**Unrestricted**||||||||
|PPA, one-off events, soccer|**-**||**-**|**-**|**7000**|**7000**|168|
|coaching andrelated activities||||||||
||**-**||**-**|**-**|**7000**|**7000**|168|
|||||||||
|**TOTAL**|**703,000**||**-**|**655,480**|**1,061,130**|**2,419,610**|2,465,784|
pg. 29
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **2 Income (continued)**
## **2C–Income from charitable activities – previous year**
||**Premier**||||||
|---|---|---|---|---|---|---|
||**League**
**Grant**|**Big Lottery Grant**|**ESFA Grant**|**Other sources**|**2021**|2020|
||**£**|**£**|**£**|**£**|**£**|£|
|**Restricted**|||||||
|Kicks/Disability/Targeted|247,365|-|-|127,491|**374,856**|378,097|
|Pitches Project|-|-|-|25,000|**25,000**|-|
|Ashton College BTEC|-|-|97,896|-|**97,896**|73,077|
|Cheadle College BTEC|-|-|98,700|-|**98,700**|86,100|
|Oldham College BTEC|-|-|107,500|-|**107,500**|70,950|
|MMU Degree|-|-|202,166|-|**202,166**|171,332|
|Cityzens Giving Project|-|-|-|-|**-**|62,188|
|City Thrive|-|-|-|55,973|**55,973**|-|
|Connell College BTEC|-|-|161,245|-|**161,245**|155,025|
|We Love Manchester|-|-|-|-|**-**|30,000|
|School Sports Programme|140,000|-|-|373,712|**513,712**|697,763|
|Princes Trust|-|-|-|39,732|**39,732**|-|
|Soccer Schools|-|-|-|70.428|**70.428**|-|
|Inspires|70,000|-|-|155,833|**225,833**|188,388|
|City Play|250,000|-|-|83,800|**333,800**|360,773|
|City Lifestyles|-|158,775|-|-|**158,775**|75,637|
||**707,365**|**158,775**|**667,507 **|**931,969**|**2,465,616**|2,349,330|
|**Unrestricted**|||||||
|PPA, one-off events, soccer|**-**|**-**|**-**|**168**|**168**|9,266|
|coaching andrelated activities|||||||
||**-**|**-**|**-**|**168**|**168**|9,266|
||||||||
|**TOTAL**|**707,365**|**158,775**|**667,507 **|**932,137 **|**2,465,784 **|2,358,596|
‘Other Sources’ includes various income from various schools and other small grants.
Government grants – ESFA is a form of government grant, granted to enable the charity to provide support and training to provide a BTEC course in partnership with Connell, Cheadle, Ashton & Oldham Colleges
|**2D– Other income**|**2022**|2021|
|---|---|---|
||**£**|£|
|**Unrestricted**|||
|Other income|**-**|3,398|
||**-**|3,398|
pg. 30
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **3 Expenditure**
|**Expenditure**|||||
|---|---|---|---|---|
|**3A – Costs of raising funds**|**Unrestricted**
**£**|**Restricted**
**£**|**2022**
**£**|2021
£|
|Staff costs|**56,838**|**12,966**|**69,804**|120,201|
|Travel & vehicle|**336**|**376**|**712**|519|
|Printing, postage and stationery|**4,325**|**-**|**4,325**|17,686|
|Facility hire|**10,321**|**-**|**10,321**|12,283|
|Catering|**1,128**|**-**|**1,128**|-|
|Equipment|**10,130**|**40,147**|**50,277**|2,049|
|Promotional Material|**2000**|**-**|**2000**|2,904|
|Professional Fees|**2,720**|**1,709**|**4,429**|300|
|Utilities|**(56)**|**-**|**(56)**|-|
|Depreciation|**-**|**-**|**-**|-|
|Sundries|**10,701**|**21,260**|**31,961**|26,104|
|Donated Services – Facility Hire (note 16)|**85,320**|**-**|**85,320**|85,320|
|Support Costs (note 3D)|**340,312**|**-**|**340,312**|394,937|
|**Total**|**524,075**|**76,458**|**600,533**|662,303|
||||||
|_2021_|_662,303_|_-_||_662,303_|
|**3A – Costs of raising funds**
**–previous year**|**Unrestricted**
**£**|**Restricted**
**£**|**2021**
**£**|2020
£|
|---|---|---|---|---|
|Staff costs|**120,201**|**-**|**120,201**|680,795|
|Travel & vehicle|**519**|**-**|**519**|98,706|
|Printing, postage and stationery|**17,686**|**-**|**17,686**|4,052|
|Facility hire|**12,283**|**-**|**12,283**|12,695|
|Catering|**-**|**-**|**-**|3,263|
|Equipment|**2,049**|**-**|**2,049**|38,591|
|Promotional Material|**2,904**|**-**|**2,904**|783|
|Professional Fees|**300**|**-**|**300**|35,911|
|Utilities|**-**|**-**|**-**|17,117|
|Depreciation|**-**|**-**|**-**|-|
|Sundries|**26,104**|**-**|**26,104**|14,498|
|Donated Services – Facility Hire (note 16)|**85,320**|**-**|**85,320**|-|
|Support Costs (note 3D)|**394,937**|**-**|**394,937**|-|
|**Total**|**662,303**|**-**|**662,303**|906,411|
||||||
|_2020_|853,157|53,254|**_906,411_**||
See note 18 for details of the prior period restatement.
pg. 31
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **3 Expenditure (continued)**
|**3B – Charitable activities**|**Unrestricted**|**Restricted**|**2022**|2021|
|---|---|---|---|---|
||**£**|**£**|**£**|£|
|**Direct Costs:**|||||
|Staff costs|44,262|1,773,159|**1,817,421**|1,736,003|
|Travel & vehicle costs|512|53,976|**54,488**|19,383|
|Printing, postage and stationery|450|7,658|**8,108**|9,362|
|Equipment|1,009|59,119|**60,128**|59,714|
|Utilities|-|2,069|**2,069**|2.013|
|Professional Fees|-|20,059|**20,059**|10,004|
|Catering|18|40,549|**40,567**|34.075|
|Venue costs|-|51,176|**51,176**|33,448|
|Promotional Material|-|3,075|**3,075**|-|
|Sundries|640|63,071|63,711|20,326|
|Donated Services – FacilityHire(note 16)|173,580|-|173,580|179,300|
|**Sub total**|**220,471**|**2,073,911**|**2,294,382**|2,103,628|
|**Grants to Institutions:**|||||
|Charitable Donations|-|58,292|**58,292**|120,844|
|Grants payable|-|-|**-**|450|
|Support Costs (note 3D)|22,263|357,269|**379,532**|281,081|
|**Total**|**242,734**|**2,489,472**|**2,732,206**|2,506,003|
||||||
|_2021_||_2,506,003_|_2,506,003_||
See note 18 for details of the prior period restatement.
Donations includes monies raised by Manchester City FC City in the Community Foundation, payable to:
£37,397 of Puma footballs that were given away during the Christmas Campaign
£2,500 to 4CT Ltd for food bank donation
£2,500 to Emmies Kitchen for food bank donation
£2,500 to Bridging the Gap for food bank donation
£1,000 for toys for Christmas Campaign
£6,272 to Murdered Abroad as part of a fundraising campaign
£6,123 to Macmillan Cancer Support as part of a fundraising campaign
pg. 32
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
|**3B – Charitable activities – previous year**|**Unrestricted**
**£**|**Restricted**
**£**|**2021**
**£**|2020
£|
|---|---|---|---|---|
|**Direct Costs:**|||||
|Staff costs|-|**1,736,003**|**1,736,003**|2,014,818|
|Travel & vehicle costs|-|**19,383**|**19,383**|12,031|
|Printing, postage and stationery|-|**9,362**|**9,362**|7,422|
|Equipment|-|**59,714**|**59,714**|93,105|
|Utilities|-|**2.013**|**2.013**|61|
|Professional Fees|-|**10,004**|**10,004**|4,954|
|Catering|-|**34.075**|**34.075**|13,516|
|Venue costs|-|**33,448**|**33,448**|22,247|
|Promotional Material|-|**-**|**-**|400|
|Sundries|**-**|**20,326**|**20,326**|25,890|
|Donated Services– FacilityHire (note16)|**179,300**|**-**|**179,300**|-|
|**Sub total**|**179,300**|**1,924,328**|**2,103,628**|2,194,444|
|**Grants to Institutions:**|||||
|Charitable Donations|**120,844**|**-**|**120,844**|1,249|
|Grants payable|-|**450**|**450**|-|
|Support Costs (note 3D)|-|**281,081**|**281,081**|-|
|**Total**|**300,144**|**2,205,859**|**2,506,003**|2,195,693|
||||||
|_2020_|_-_|_2,195,693_|_2,195,693_||
See note 18 for details of the prior period restatement.
pg. 33
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
|**3B**|**–**|**Healthy**|**Healthy**|**Healthy**|**International**|**Other Charitable**|**Total**|
|---|---|---|---|---|---|---|---|
|**Charitable**||**People**|**Futures**|**Communities**|**Trips**|**Activities**|**2022**|
|**activities**||**£**|**£**|**£**|**£**|**£**|**£**|
|**Direct costs:**||||||||
|Staff costs||894,881|689,164|189,445|42,909|1,022|**1,817,421**|
|Travel & vehicle||17,860|8,321|2,289|26,018|-|**54,488**|
|costs||||||||
|Printing, postage||2,952|5,156|-|-|-|**8,108**|
|and stationery||||||||
|Equipment||47,130|12,146|821|31|-|**60,128**|
|Utilities||1,322|691|-|56|-|**2,069**|
|Professional Fees||609|3,116|-|5,027|11,307|**20,059**|
|Catering||26,893|12,942|732|-|-|**40,567**|
|Venue costs||12,519|19,021|17,354|2,282|-|**51,176**|
|Promotional||173|2,902|-|-|-|**3,075**|
|Material||||||||
|Sundries||3,166|57,029|3,282|234|-|**63,711**|
|Donated Services|–|84,534|57,029|32,017|-|-|**173,580**|
|Facility Hire (note||||||||
|16)||||||||
|**Sub total **||**1,092,039**|**867,517**|**245,940**|**76,557 **|**12,329**|**2,294,382 **|
|**Grants to**||||||||
|**institutions:**||-|-|-|-|58,292|**58,292**|
|Charitable||-|-|-|-|-|**-**|
|Donations||178,967|162,893|37,072|-|600|**379,532**|
|Grants payable||||||||
|Support Costs||||||||
|(note 3D)||||||||
|||||||||
|**Total**||**1,271,006**|**1,030,410**|**283,012**|**76,557**|**71,221**|**2,732,206**|
The data is not available in this format for the prior period comparatives.
## **Notes to the financial statements (continued)**
|**3C– Other Costs**|**2022**|2021|
|---|---|---|
||**£**|£|
|**Unrestricted – Trading Company**|||
|Audit and Accounting|**7,300**|6,800|
|Sundries|**185**|538|
|**Total costs**|**7,485**|7,338|
See note 18 for details of the prior period restatement.
pg. 34
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
|**3D – Support Costs Analysis**|**2022**
**£**|2021|
|---|---|---|
|Staff costs|**610,665**|606,669|
|Travel & vehicle costs|**18,344**|298|
|Printing, postage and stationery|**1,794**|874|
|Equipment|**35,213**|27,699|
|Utilities|**13,142**|16,944|
|Professional Fees|**19,793**|17,136|
|Catering|**4,311**|7|
|Venue costs|**5,979**|-|
|Promotional Material|**1,497**|-|
|Sundries|**9,106**|6,391|
|**Total**|**719,844**|676,018|
pg. 35
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
**4 Funds reconciliation**
|||||**Transfers**||
|---|---|---|---|---|---|
||**Balance**|**Income**|**Expenditure**|**between funds**|**Balance**|
||**b/f 1/9/21**|**£**|**£**|**£**|**c/f 31/8/22**|
|**Charity**|**£**||||**£**|
|**Unrestricted funds**|911,546|1,198,373|(766,809)|(71,970)|**1,271,140**|
|Designated Funds|213,548|-|-|-|213,548|
|**Total unrestricted**|**1,125,094**|**1,198,373**|**(766,809)**|**(71,970)**|**1,484,688**|
|**funds**||||||
|**Group**||||||
|**Unrestricted funds**|922,708|1,197,211|(774,294)|(71,970)|1,273,655|
|Designated Funds|213,548|-|-|-|213,548|
|**Total unrestricted**|**1,136,256**|**1,197,211**|**(774,294)**|**(71,970)**|**1,487,203**|
|**funds**||||||
|||||||
|**Charity and Group**||||||
|**Restricted funds**||||||
|Kicks/Disability|14,960|427,537|(460,557)|30,410|12,350|
|Princes Trust|6,860|95,787|(82,143)|-|20,504|
|Soccer Schools|5,200|46,558|(75,831)|-|(24,073)|
|Cityzens Giving Project|(2,822)|79,089|(76,557)|-|(290)|
|BTEC Ashton College|-|57,304|(64,481)|-|(7,177)|
|Primary Stars|(9,002)|507,251|(507,603)|660|(8,694)|
|City Thrive|2,244|75,580|(84,931)|15,546|8,439|
|BTEC Connell College|-|154,830|(146,060)|-|8,770|
|BTEC Oldham College|-|139,750|(97,310)|-|42,440|
|Inspires|11,841|266,400|(269,705)|-|8,536|
|Pitches Programme|2,067|9,267|(9,267)|-|2,067|
|City Play|(2,742)|334,388|(310,132)|12,000|33,514|
|City Lifestyles|5,975|-|-|-|5,975|
|BTEC Cheadle|-|77,700|(92,240)|-|(14,540)|
|MMU Degree|-|225,896|(136,066)|-|89,830|
|Water Project|-|16,445|(17,109)|-|(664)|
|Veterans Project|-|7,917|(1,188)|-|6,729|
|Christmas Campaign|-|20,000|(45,897)|13,354|(12,543)|
|Camino|-|12,395|(12,395)|-|-|
|NothingVentured|-|77,618|(76,458)||1,160|
|**Total restricted funds**|**34,581**|**2,631,712**|**(2,565,930)**|**71,970**|**172,333**|
|||||||
|**Charity and Group**||||||
|**Total funds**|**1,170,837 **|**3,828,923**|**(3,340,224)**|**-**|**1,659,536**|
Transfer between funds – Negative restricted fund balances are supported by the unrestricted funds. Transfers in the year represent the use of unrestricted funds to fund certain of the costs of restricted fund projects.
## **Designated funds**
Where fundraising initiatives are held specifically for an existing or new programme it may be required that these funds will be ring-fenced for the following year/s and classed as designated funds in the unrestricted reserves.
pg. 36
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **4 Funds reconciliation (continued)**
## **Funds reconciliation – previous year**
|||||**Transfers**||
|---|---|---|---|---|---|
||**Balance**|**Incoming**|**Outgoing**|**between**|**Balance**|
||**b/f**|**resources**|**resources**|**funds**|**c/f**|
|**Charity**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**|595,818|1,020,338|(962,448)|257,838|911,546|
|DesignatedFunds|62,302|151,246|-|-|213,548|
|**Total unrestricted**|**658,120**|**1,171,584**|**(962,448)**|**257,838**|**1,125,094**|
|**funds**||||||
|**Group**||||||
|**Unrestricted funds**|610,768|1,023,888|(962,447)|257,838|922,708|
|DesignatedFunds|62,302|151,246|-||213,548|
|**Total unrestricted**|**673,070**|**1,175,134**|**(969,786)**|**257,838**|**1,136,256**|
|**funds**||||||
|||||||
|**Charity and Group**||||||
|**Restricted funds**||||||
|Kicks/Disability|15,987|374,856|(375,883)|-|14,960|
|Princes Trust|-|39,732|(32,872)|-|6,860|
|Soccer Schools|-|70,428|(65,228)|-|5,200|
|Cityzens Giving Project|(2,443)|21,940|(22,319)|-|(2,822)|
|BTEC Ashton College|-|97,896|(58,746)|(39,150)|-|
|Primary Stars|(7,815)|513,712|(514,899)|-|(9,002)|
|City Thrive|-|55,973|(53,729)|-|2,244|
|BTEC Connell College|-|161,245|(119,546)|(41,699)|-|
|BTEC Oldham College|-|107,500|(58,139)|(49,361)|-|
|Inspires|1,341|225,833|(215,333)||11,841|
|Pitches Programme|-|25,000|(22,933)|-|2,067|
|City Play|(3,254)|333,800|(333,288)|-|(2,742)|
|City Lifestyles|6,906|158,775|(159,706)|-|5,975|
|BTEC Cheadle|-|98,700|(61,571)|(37,129)|-|
|MMU Degree|-|202,166|(111,667)|(90,499)|-|
|**Total restricted funds**|**10,722**|**2,487,556**|**(2,205,859)**|**(257,838)**|**34,581 **|
|||||||
|**Charity and Group**||||||
|**Total funds**|**683,792 **|**3,662,690**|**3,175,645**|**-**|**1,170,837 **|
Negative restricted fund balances are supported by the unrestricted funds.
pg. 37
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **4 Funds reconciliation (continued)**
## **Restricted funds**
Kicks – To create a strong, safe and more respectful community by developing young people’s potential through the power of sport. This programme now also incorporates both our Disability and Women’s projects. Providing a range of sporting opportunities for young people with disabilities in school and out of school to include football, rugby, athletics & netball and to engage with Women & Girls in the local community to enable them to take part in sport.
Cityzens Giving – is a project working with Women & Girls in the local area giving them opportunities to take part in sport. The project is voted for by the fans of Manchester City Football Club and will be a three-year project.
Primary Stars – The Premier League Schools Sport Programme is a high-quality series of bespoke programmes that meet individual needs and requirements of Primary Schools in Manchester
Connell College (BTEC) – A two-year B-Tec course in partnership with Connell College, a Level 3 Extended Diploma in Sport for 16–19-year-olds.
Oldham College (BTEC) – A two-year B-Tec course in partnership with Oldham College, a Level 3 Extended Diploma in Sport for 16–19-year-olds.
Cheadle College (BTEC) – A two-year B-Tec course in partnership with Cheadle College, a Level 3 Extended Diploma in Sport for 16–19-year-olds.
Ashton College (BTEC) – A two-year B-Tec course in partnership with Ashton College, a Level 3 Extended Diploma in Sport for 16–19-year-olds.
Inspires – Using MCFC as an example of a business providing young people with an OCR accredited Entry Level 3 Business & Enterprise qualification. 21 hours’ project delivery per cohort of students suing a flexible delivery model at schools or the Etihad stadium.
City Play – The programme covers the EYFS curriculum delivered for all sessions. Sessions to include physical development, communication and language, personal, social and emotional development and links to cross curricular such as shape space and measure and phonetical sounds. Cover key elements of the prime areas of the EYFS National curricular:
City Thrive – City Thrive provides mental health support for all of City in the Community’s participants aged up to 25. The project blends specially adapted football sessions with one-to-one mentoring and group workshops on mental health awareness _._
City Careers – An employment programme for young people aged 16-24 who are not currently in employment, education or training.
City Lifestyles – The programme is designed to encourage children to make Healthy choices from an early age by supporting families to develop their skills and confidence when preparing and cooking meals.
pg. 38
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **5 Net movement in funds**
This is stated after charging:
|his is stated after charging:|||
|---|---|---|
||**2022**|2021|
||**£**
|£|
|Remuneration of Auditor|**19,500**|18,500|
|Non-Auditor Fees|**2,150**|3,050|
|Hire of Assets – operating leases|**13,490**|10,024|
## **6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
The average number of full-time persons employed by the Charity (including Trustees) during the financial period was 74 (2021 – 78). An average of 32 part-time/casual staff (2021 – 21) were also employed during the period.
There were no staff employed by the Trading Company.
The aggregate payroll costs of these persons were as follows:
Group and Charity
|roup and Charity|||
|---|---|---|
||**2022**|2021|
||**£**
|£|
|Wages and salaries|**2,126,452**|2,100,968|
|Social security costs|**191,350**|185,337|
|Otherpensioncosts|**157,437 **|161,976|
||**2,475,239**|2,448,281|
Include in wages and salaries is: Consultancy and sessional costs
The charity trustees were not paid or received any other benefits from employment with the Trust or its subsidiary in the year (2021: £nil) neither were they reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).
Four employees received emoluments for the period in excess of £60,000 (2021: £60,000). Pension contributions were made to the employees during the period of £9,713 (2021: £9,374).
||No.of Employees|No.of Employees|
|---|---|---|
||FY 2022|FY 2021|
|100,000+|**-**|-|
|90,001 - 100,000|**-**|1|
|80,001 –90,000|**-**|-|
|70,001 - 80,000|**1**|-|
|60,001 - 70,000|**3**|3|
The key management personnel of the parent charity, the Trust, comprise the trustees, the Head of City in the Community, Finance Director, Senior Operations Manager, City in the Community Ambassador, Senior Partnerships Manager, HR & Talent Manager and Communications Manager of Manchester City FC City in the Community Foundation. The total employee benefits of the key management personnel of the Trust were £403,750 (2021: £411,736) and pension costs of £15,315 (2021: £14,533)
pg. 39
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **7 Taxation**
The Charity raises and utilises funds, subscriptions and donations to meet its charitable objectives promoting youth football and educational facilities. The Charity does not trade for profit. As stipulated in the Charity’s articles the assets remaining on the winding up or dissolution would not be distributed to members but given to another charitable institution with similar objectives, consequently, any operating surpluses are considered exempt from corporation tax. The Charity enjoys charitable status and so is not liable to UK corporation tax on bank interest received.
## **8 Tangible Fixed Assets**
||**Other**|**Computer**|||
|---|---|---|---|---|
||**equipment**|**equipment**||**Total**|
|**Group and Charity**|£|**£**||**£**|
|**Cost**|||||
|As at 1 September 2021|-||-|-|
|Additions|-||-|-|
|**As at 31 August 2022**|**-**||**-**|**-**|
|**Depreciation**|||||
|As at 1 September 2021|-||-|-|
|Provision for theyear|-||-|**-**|
|**As at 31 August 2022**|**-**||**-**|**-**|
|**Net Book Value**|||||
|**As at 31 August 2022**|**-**||**-**|**-**|
|As at 31 August2021|-||-|**-**|
## **9 Investments – Charity**
|**nvestments – Charity**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|**Investments**–subsidiary|**1**|1|
The company owns 100% of the shares of its subsidiary company Manchester City FC CITC Foundation Trading Company Limited, a Company incorporated in England & Wales, with the same registered office as its parent, registration number 08037713. At the year end, the company had net assets of £2,515 (2021:net assets £11,162). For the period ended 31[st] August 2022 the company had turnover of £ 48,000 (2021: £89,500) and made a profit of £40,515 (2021: profit £82,162). The principal activity of the company is to receive sponsorships from external companies.
## **10 Debtors: due less than one year**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2022**|2021|**2022**|2021|
||**£**|£|**£**|£|
|Trade debtors|**35,701**|23,425|**34501**|10,225|
|Prepayments|**2090**|1,064|**2090**|1,064|
|Amounts owed by group|**-**|-|**-**|-|
|Amounts owed by related parties|**1000**|650|**1000**|650|
|Accruedincome|**8031 **|11,027|**8031 **|11,027|
||**46,822**|36,166|**45,622**|22,966|
Amounts owed by group and related parties are interest free and repayable on demand.
pg. 40
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **11 Creditors: amounts falling due within one year**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2022**|2021|**2022**|2021|
||**£**|£|**£**|£|
|Trade creditors|**22,076**|8,537|**22,076**|8,537|
|Taxes and social security|**61,227**|62,931|**62,037**|60,432|
|Amounts owed to related party|**2,012**|9|**2,012**|9|
|Accruals|**241,765**|288,611|**235,015**|282,361|
|Deferredincome (note13)|**413,236**|361,835|**413,236**|361,835|
||**740,316**|721,923|**734,376**|713,174|
There were no secured balances included in creditors.
Amounts owed to Group and related parties are interest free and payable on demand.
## **12 Creditors: amounts falling due after one year**
|||**Group**|Group|**Charity**||Charity|
|---|---|---|---|---|---|---|
|||**2022**|2021|**2022**||2021|
|||**£**|£|**£**||£|
|Deferred income(note|13)|**-**|-||**-**|-|
|||**-**|-||**-**|-|
There were no secured balances included in creditors.
## **13 Deferred income**
Deferred income represents sponsorship/grant income received in advance from various sponsors/funders and is outside the control of the charity.
|**Group **|**£**|
|---|---|
|Balance as at 1 September 2021|361,835|
|Amount received and deferred in the year|212,651|
|Amountsreleased toincomingresources|(161,250)|
|**Balance as at 31 August 2022**|**413,236**|
|**Charity **|**£**|
|Balance as at 1 September 2021|361,835|
|Amount received and deferred in the year|212,651|
|Amountsreleased toincomingresources|(161,250)|
|**Balance as at 31 August 2022**|**413,236**|
pg. 41
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **14 Analysis of total funds - Group**
|**Analysis of total funds - Group**|||||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|**Total**|
||**funds**|**funds**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|Fixed assets|-|-|**-**|-|
|Current assets|1,738,517|661,335|**2,399,852**|1,892,760|
|Creditors falling due within one year|(251,314)|(489,002)|**(740,316)**|(721,923)|
|Creditorsfalling due after more thanone year|-|-|**-**|-|
||**1,487,203**|**172,333**|**1,659,536**|1,170,837|
|**Analysis of total funds- Charity**|||||
|Fixed assets|1|-|**1**|1|
|Current assets|1,730,061|661,335|**2,391,396**|1,872,848|
|Creditors falling due within one year|(245,374)|(489,002)|**(734,376)**|(713,174)|
|Creditorsfalling due after more thanone year|-|-|**-**|-|
||**1,484,688**|**172,333**|**1,657,021**|1,159,675|
|**Analysis of total funds – Group**(prior year)|||||
||**Unrestricted**|**Restricted**|**Total**|**Total**|
||**funds**|**funds**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|Fixed assets|-|-|**-**|-|
|Current assets|1,412,034|480,726|**1,892,760**|1,411,239|
|Creditors falling due within one year|(275,778)|(446,145)|**(721,923)**|(727,447)|
|Creditorsfalling due after more thanone year|-|-|**-**|-|
||**1,136,256**|**34,581**|**1,170,837**|683,792|
|**Analysis of total funds- Charity **(prioryear)|||||
|Fixed assets|1|-|**1**|1|
|Current assets|1,392,122|480,726|**1,872,848**|1,384,782|
|Creditors falling due within one year|(267,029)|(446,145)|**(713,174)**|(715,941)|
|Creditorsfalling due after more thanone year|-|-|**-**|-|
||**1,125,094**|**34,581**|**1,159,675**|668,842|
The charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own profit and loss account. The surplus for the period dealt with in the accounts of the charity is £497,346 (2021: £490,833).
## **15 Operating Lease Commitments – Group and Charity**
At 31 August 2022 the charity had annual commitments under non-cancellable operating leases as follows:
||**2022**|2021|
|---|---|---|
||**£**|£|
|**Other:**|||
|Amounts due within one year|**9,655**|11,209|
|Amounts due betweenone andfive years|**8,362 **|13,081|
||**18,017**|24,290|
2021 - There are no other commitments at the current and prior year end.
pg. 42
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **Notes to the financial statements (continued)**
## **16 Related party transactions**
The Trustees consider that Manchester City Ltd and its subsidiaries Manchester City Football Club Ltd and City Football Group are related parties of the Charity by virtue of significant influence.
The relationship between the Foundation and Manchester City Football Club is defined in a signed SLA.
The Charity receives support from Manchester City Football Club Ltd and City Football Group to the extent that office premises and use of the football pitches at the CFA site are provided free of any charges. In addition, the football club provides in-kind support of key personnel from a range of departments within the organisation to support the activities of the charity. The monetary value of the donated services is estimated at £258,900 (previous year £264,620). In addition, the football club provides in-kind support of key personnel from a range of departments within the organisation to support the activities of the charity, however it is not possible to value this support.
S Cliff is an employee of City Football Group Limited. S Cliff is company secretary of City Football Group Limited and Manchester City Football Club Limited.
T N Pitchon is an employee of City Football Group Limited.
D Wilson is an employee of Manchester City Football Club.
The 2021/22 reporting period included the following financial support from the Club to Charity:
- £17 k raised via fan donations when purchasing match tickets.
- A contribution to salaries totalling £78k.
- £12k contribution from Safeguarding department towards CITC Safeguarding Officer role.
- £60k donated through profits being waived by the Club/ FFF at the Soccer Aid match in September 2021.
The Gift Aid amount transferred from Manchester City FC CITC Foundation Trading Company Limited to Manchester City FC City in the Community Foundation was £49,162 (2021: £85,950).
One of the Trustees, Kevin Parker is the General Secretary of the Manchester City Official Supporters Clubs, which have made donations to the Foundation in this period, of £32,126.
One of the Trustees, Sarah Todd made a donation of £1000 to the Charity in February 2022.
Also Chair of Trustees. Pat Loftus paid the charity £600 to support the Blues on the Green Event.
No other Trustees financially contributed to or received any funds from the Charity.
See note 6 for details of remuneration paid to trustees.
## **17 Control**
The Charity is limited by guarantee and therefore does not have any share capital. Any liability of its members is restricted to £10 per member.
pg. 43
DocuSign Envelope ID: 5F9713ED-0B8C-47DE-A471-87025E88B808
## _**Manchester City FC City in the Community Foundation**_
Year Ended 31 August 2022
## **18 Prior period adjustment**
The prior period income and expenditure have been increased by an equal amount of £271,959. This includes £264,620 which represents the value of donated facilities previously omitted from the 2021 financial statements, and £7,338 of costs that were incorrectly presented within total income.
Additional adjustments have been made between income and expenditure lines within notes 2 and 3 to correct misclassifications under the SORP.
The key movements are as follows:
||As previouslyreported|Priorperiod adjustment|Restated|
|---|---|---|---|
||£|£|£|
|Incomefrom:||||
|Donations andlegacies|797,323|182,459|979,782|
|Othertrading activities|124,227|89,500|213,727|
|Charitable activities|2,465,784|-|2,465,784|
|Other income|3,398|-|3,398|
|Total income|3,390,732|271,959|3,662,691|
|||||
|Expenditure||||
|Costs of raisingfunds|720,147|(54,553)|665,594|
|Expenditure on charitable
activities|2,183,540|319,173|2,502,713|
|Othercosts|-|7,338|7,338|
|Totalexpenditure|2,903,687|271,959|3,175,645|
|||||
|Netincome before transfers|487,045|-|487,045|
pg. 44