REGISTERED COMPANY NUMBER: 07877720 (England and Wales) REGISTERED CHARITY NUMBER: 1145603 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 FOR THE NATIONAL LEAGUE TRUST LTD Blackthorns Chartered Accountants and Registered Auditors Admiral House Waterfront East Brierley Hill West Midland8 DY5 IXG
THE NATIONAL LEAGUE TRUST LTD CONTEIYTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Page Report of the Trustees Report of the Independent Auditors 7 to 9 Statement of Flnanelal Aetlvltle$ io BalAnc¢ Sheet Cash Flow Statement 12 Notes to the Cash Flow Statement 13 ote8 to the Financlal Ststements 14 to 22 Detalled Statement of Flnanclal Actlvlllei 23
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 The twstees who are also directors of the charity for the puOSe8 of the Companies Act 2006, present their rq)ort with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitl¢S PTq)aring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OWECTIVES AND ACTIVITIES Objectlves and vdlms for the publlc benellt The objectives of tlle charity are as follows.. to promote the physical education of children and young per80ns, community participation in healthy recreation by providing facilities for playing football or other sports capable of improving physical health, to assist in providing facilities for recreation or other leisure time occupation of per8ons who have need for such facilities by reason of age, infmity or disablement. poverty or social economic circumstance8 or for the public at large in the interests of social welfare, to advance the education of children and young people and provide opportunities for them to develop their full capabilities to enable them to become responsible member8 of society. Individual schemes are run by Club Community Organisations (CC08) of member clubs of The National League and these are grant aided by the Charity through donations from The Pretnier League and The Professional Footballers Association. In May 2023 both or8ani8ations confirnied that they would continue to fund the Trust for five years from August 2023. The trustees confmn that they have reviewed the guidance contained in the Charity Commi88ion's general guidance on publAC benefit wllen reviewing the Tru8t'8 aims and objectives and in planning future activities and setting the grant making policy. Granlmaklng The Trust has two objectives.. to develop the abiltty of each club's community organisation (CCO) to plhn and deliver a Sustainable programme of activities and to make fi]nding available for those activities. The Trut•t runs a training and development programme and invites applications periodically throughout the year To be eligible, a CCO must be associated with a Club that is a member of The National League in the current playing season. Applications mu8t be for project5 or activitie8 in line with the Trust's aim8 and objectives. If accepted by truslees, there is a range Offiding levels available, depending on the status of the applicant. The¥e are.. £1 0,000 - for clubs applying for the first time or who are not currently funded £15,000 - club-rLm projects who have previously received Tnt funding and have 5ucce8sfully delivered the project and for new charities who have not applied to the Trust before £20,000 - for established charities funded before, or for a programme run by a CIC that 18 separate to thc club £25,000 for established charities who have achieved a satisfactory standard in a¥sessment of Capability Code of Practice (CCOP). Grants are to a maximum of 750/0 of thc eligible cost, meaning at least 250/0 must come from other sources, Ch2rlties and CCOP As part of the development of CCOS and to improve their governance. th¢ Trust supports two initiative8: to encourage clubs to create a separate charity to manage their community programme and to further develop the governance of those charities through Capability Code of Practic¢ (CCOP). In 2023124 there were 72 clubs in the National League. Of these, 47 had a separate charity or conllnunity interest company managing their programme and Trust funding.
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 OBJECTIVES AND ACTIVITIES During the year the Trust continued to work with its sisler bodie5 the Premier League Charitable Fund (PLCF) and th¢ English Football League in tbe Community to develop the governance standard lfflown as CCOP at National LEaguc CCOS who were interested in developing their organisation. CCOP helps CCOS work towards improving ar¢a8 highlighted by the Charity Commission as being the hall marks of a well-run charity.. o Structure o Governance and the board o Safeguarding o Finance o People o Data Pmtection o Health & Safety In 2023124 there were 25 CCOS Cither working towards CCOP or had achiev¢d a rating of satisfactory or above. Premler League Prlmary Stars Sin¢¢ 2016117 the Trust hail worked with the PLCF a8 part of this flagship grant programme. This is an ¢ducation programme that connects learning to the world of sport to enthuAe pupils when tsckling challenging tOPlC8. 11 18 linked to the national curriculum and the aim is that it is available to as many primary schools in England and Wales as possible. It uses the appeal of the Premier League and professional football clubs to Improve and enhancc physical education (PE) and other curriculum areas, developing 8kills and valucs. Only National League CCOS with charitable Status and working toward a satisfactory standard of CCOP are able to apply to this progrAmme. In 2023124 fifteen CCOS received grants of either £25,000, £20,000 or £15,000 depending on their ability to deliver this complex programme. Each level of funding requires different levels of KPIS. There is a strong partn¢rship with the PLCF to ensure that the quality of delivery 18 maintained across all CCO8 in ihe Premier League and EFL. This ensure that programme8 can grow 88 they improve. A range of support and training opportunities 18 available, including coach development in partnership with the FA. Women and Glrls Pllot Progr8mme In 2018119 the Trust worked with the Wembley National Stadium TNst (WNST) to create a pro8ramme funding Women and Girls development at 8elected CCOS. £IOO,000 was given by WNST to fund the programm¢ and eleven projects were successfully delivered, receiving grants of £67,325. The pandernic led to the project being suspended with a rcsidual amount (after costs) of £22,273. In Spring of 2023 the Trust and WNST agreed to rLm a ¥mall grants programme with activities to coincide with the FIFA Women's World Cup. In May 2023 trustees agreed to make a contribution and increa8e the fund to £32,000, allowing eight grants of £4,000 to be offered. Eight grdnt8 w¢re made to a group of CCOS who were establithed charities with & satisfactory CCOP level. The aim of these projects wa8 to engage with women and girls not currently playing football and from disadvantaged and underrepresented groups. This programme was succeSSfi in a¢hi¢ving its targets.
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 ACUIEVEMEIYT AND PERFORMANCE Charitable activities This year has been one of consolidation for the Trust. The security of future funding has allowed the recruitment of additional statT re8ource5, and this has improved the service the Trust offers to CCOS, including a higher degree of support and monitoring of governance and improved feedback to projects. This has had the impact of reducing the risk of funding poor perforniing projects and ensuring that all charities are meeting the reporting requirement8 of the Charity Commtssion. These projects included working with young people at risk of offending, supporting health initiatives, cheerleading music, dance and other arts activities, encouraging volunteering, working with young people not in employment, education or training (NEETS), helping different disability groups to play sport, creating educational initiatives for adults and children, working with isolated community groups, green projects, healthy eating and lifcstyle and working in phrtnership with schools to deliver football coaching and other initiatives. The Trust funded 43 projects during the year. The type and variety of projects was: Anti-social behaviour CCO development Disability sport Football/sport activitie8 Health & wellbeing Mental health Older peoplc School 8POrt l interventions Social inclu.8ion Women & 8ir18 io Those projects referred to as CCO development were for the recruilment of core staff. This is an important aspect of NLT funding, particularly for new or developing charities. Increasingly. CCOS are delivering project8 with a wider community benefit than just sport. Investment performvdnce The charity does not deliver projects, it instead makes grants to CCOS to enable them to deliver the projects. To receive a grant for a project, KPIS must be Set by the applicant which must be acceptable to the charity and two of four core outcome5 must be achieved by the project. At both the half way point and the end of the project, an assessment of how the project has perfonned against these me88ure8 must be submitted to the charity, and if the results are satisfactory then payment of the grant will be made. Perforniance data is still being reviewed. but it is estimated that funded projects delivered at least 20,820 session8 and ev¢nts during the ycar producing ov¢r 31,280 hours of activity al 565 venues. There were over 370.000 attendances. NLT Under Ils Cup This annual tournament for primary schools again attracted 45 entries in its sixth year. Most clubs entcred both the mixed and girls, events. Clubs hold their own tournaments to find their champion schools. and this involved almost 1,000 schoo15 across the country. The Trust then nll a series of regional tournaments. hosted by National League clubs. This year eight were held at Boreham Wood. Hartlepool United, Oldham Athletic, Solihull Moors, Tonbridge Angels, Woking. Yeovil Town and York City. Winners and rlllmers-up then competed in the 8emi-finals, hosted by Slough Town and Chesterfield. The finals are played at Wembley Stsdium prior to the League's promotion play-off. This year, Oldham Athletic beat Aldershot Town in the mixed competition and AFC Fylde defeated Slough Town in the girls fmal.
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 FINANCIAL REVIEW PriDcRpal fundlng sources The principal funding source is the Professional Footballers Association who have donated £1,200,000. The level of funding for 2024125 will also be £1,200,000. Each year £300,000 of the donation has been ring-fenced for the Premier L£ague Primary Stars grant programme in line with the ternis of the grant received. Both the Premier Leagu¢ and PFA have committed to continue to fvnd the Trnst until 2028. Reserves polley Free reserves at 31 May 2024 amounted to £1,] $6,661(2023 - £1,143,321). These are held for future grant ¢laims and support costs in 2023124 restricted funds. At all times the Trust has an uncommitted reserve of £IOO,000. Interest will continue to be received on the cash deposits and the trustees consider there are sutTicient reserves to cover all expenditure in the coming year. Golng concern The charity has rnore than sufficient funds available to meet its committed liabiliti¢s and no material uncertainties exist regarding its ability to continue. The Trustees therefore b¢lieve that it 18 corrccl to prepare these fmancial statements on a going concern basis. PrlnelpAI rl$k8 and uncertaintles The main uncertainty regarding income has been relieved by the agreement with the PFA which Qonfimied funding until July 2028. This agreement includes the arrangement that portion of fimd¥ are paid every three months. Funding is subject to r¢porting to the PFA during cach year, and there are repaent clau8es in place if the Trust fails to nieet these obligations. The major risk is in respect of potential fraud in re8PCCt of grants paid. This is managed in part by the majority of grants being made mainly to CCOS. Where grants are made lo club-based project8 these amounts are underwritten by The National L£ague, who have committed to recoup the money from the cluby and repay it to the Trust. The League have also agreed to offer bookkeeping seryices to the Trust at no cost. FUTURE PLANS In 2023 the Trust began work on a strategic review, including discussions with the National League about how the two organi8atlos could work together more effectively. This review is expected to be completed during 202516 and will consider future Income dcv¢lopment, the ¢harity's structur¢ and staff succession planning. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by it8 governing document, the articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In the event of the company being VUnd up the member 18 required to contribute an amount not ex¢eedin8 £1. Trustees The charity is governed by the trustees who currently meet four times a year and the meetings are attended by trust Staff, who act in an advisory and reporting capacity only. Each year one third of the Tru,stee5 must retire but they may be reappointed and there must be a minimum of three at all times. The trustees have been Selected for their experience in football administration, knowledge of the bcneficiary ¢lubs and general business 8kn'lls, together with their prominence a8 commiinity figures. N J Perchard and T Angus have also been appointed as representstives of the major donors to 8&818t with the objectives of the charity being met. The charity has further strengthened this position by the appointment of an independent trustee in January 2024. Nabila Zulfiqar is a solicitor specialising in professional regulation and governance and a non-executive director of the National League. Tnle¢S are given training as required, to include training on the asse8sment of grant applications.
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure All decisions are made by the Trustees at their meetings. The administration of the scheme is managed by the TnL8t'8 staty, who deal directly with each applicant and report to the Trustees on the proposed projects. Key management remuneratlon The remuneration of key management is agreed by the Trustees. Related partles Details of related parties and related paty transactions are given in note 17 to the financial statements. Rlsk management The trustees have a duty to identify and review th¢ risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable a&8urance against fraud and error. REFERENCE AND ADMINISTIL4TIVE DETAILS ReEl8tered Company number 07877720 (England and Wales) Reglstered Charlty number 1145603 Reglstered offlce Waterloo House 20 Waterloo Strect Binningham B2 5TB Tru¥tees J D Pearce - Chair Lord Faull(ner of Worce8ter N J Perchard P G F&irclough N Zulfiqar (appointed 25, l.24) Auditor8 Blackthorns Chartered Accountants and Registe d Auditor5 Admiral House Waterfront East Brierley Hill West Midlands DY5 IXG Sollcltors Bates Wells & Braithwaite London LLP, 2-6 Cannon Street, London EC4M 6YH Bankers National Westminster Bank plc, Northwich, Chc8hire
THE NATIONAL LEAGUE TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 STATEMENT OF TRUSTEES, RLSPONSIBILITIES The trustees (who are also the dircctors of Thc National Lcague Tnjst Ltd for the purposes of compary law) are respunsiblc tor prcparing the Rq)ort ot.the Trustees and thc financial s18tcments in accordance wlth applicable law und United Kingdom ALcounting Standards (lJnited Kingdom Generally Acccpicd Accounting Practice). Comp8ny law requircs the truslccs to prepare financial si4tcments for edGh financial year which give a true and fair view of th¢ state ol. affairs of the Lharitable company and of thc incoming r¢sources and application of rcsources, inLluding th¢ income and cxpenditurc, of the charitable company for that pcrlod. In preparing those financial statement5. the trusiecs are required to sclect suitablc accounting policies and Ihcn apply thcm consisientty. observc the methods and principles An the Charity SORP. make judgements and cstimatcs that are reasonablc and prudenL' prepare ihc financi41 statemcnls on the going ¢oncem b&gis unless it is inappropriate to presume that thc charitable company will continue in businexs. The truste¢s are r¢sponsible for keeping proper accounting records whi¢h disclose with reasonable aLcuracy at any time thc financial position of the charitable company and to cnablc them to ensurc that the linancial statements comply with Ihc Cumpanie8 Act 2006. Thry Arc al80 r¢spon8ible for safc8uarding the assets of the Lharitablc company and h¢ncc for tskin8 reasonable steps for ihc preventiun and detcction of traud and o¢her irrcgularitics. In so lar as the tntee8 are aware: therc is no relevant audit inforn)ulion of which thc charitablc company's lluditors are unawwc. and thc truste04 havc takcn all sleps that thcy ought lo have taken tu makc themsclves aware of any rclcvant audit infomation and to establish that ihe auditors are aware ol'thal intorniation. AUDITORS The auditors, Rluckthorns, will bc pN)posed for re-appointmcnt at the forthcoming Annual Cyencral Mcctin8. 17121 Approved by order of th¢ bL)ard ot"Irust¢es un .....,...... . and sI¢d on its bchalf by: J D Pearce - Trus ee
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LEAGUE TRUST LTD Opinion We have audited the financial statements of The National League Trust Ltd (the 'charitable companl) for the year ended 31 May 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Sialement and notes to the fthancial statements, including a summary of significant accounting policies. The fUnCIal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PrlIce). In our opinion the financial statements: give a ttue and fair view of the state of the charitable companys affair8 as at 31 May 2024 and of its incoming resources and application of resources, including its income and expenditure, 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 Companie8 Act 2006. BA818 for oplnion We conducted our audit in accordance with Inl¢rnational Slandards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for ihe audit of the financial statem¢nls section of our report. We are independent of the charitablc company in accordance with the ethical requirements that arc relevant to our audit of the fanCIal statements in thc UK, including the FRC'S Ethical Standard, end we have fulfjlled our other ethical responsibilities in accordance with these requirements. We believe that the audit evAdence we have obtained 18 suificient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financial statements, we have concluded that the trustee5' use of the going concern basi8 of accountins in the preparation of the financial statements i¥ appropriate. Based on the work we have perfonned, wc have not identified any material uncertainties relating to events or condition8 that. individually or collectively, may casl significant doubt on the charltable companls ability to continue as a going concern for a period of at least twelve months from when the fmancial statements are authorised for i8sue. Our re8pon8ibilities and the responsibilities of the trustees with re8pect to going concern are described in the relevant sections of this report. Other informallon The trustees are responsible for the other infomtion. The other inforn)ation comprises the infonnation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial .8tstements doe.q not cover the other inforn]ation and, except to the extent otherwise explicitly stated in our r¢port, we do not ¢xpress any forni of assurance conclusion thereon. In Connection with our audit of the finan¢ial statements. our responsibility is to read the other InfOrntion and, in doing so, consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge obtaincd in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, are required lo d¢temiine wh¢th¢r this gives rise to a material mis.ststement in the fllwicial statements thems¢lves, If, based on the work we have perforn]¢d, we conclude that there 18 a malcrial misstatement of this other inforn]ation, we are required to report that fact. We have nothing to report in this rcgard. Oplnlons on other matters pre5crlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the cour¥e of the audit: the inforniation given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements.
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LEAGUE TRUST LTD Matters on which we are required to report by exeeption In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audiL we have not identified material misstatements in the Report of the Ttee8. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to rq)ort to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, rernuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit; or the trustees were not entitled to take advantage of the 8mall companies exemption from the requirement to prepare a Strategtc Report or in preparing the Report of the Trustees. Responslbllities of trustees As explained more fully in the Statement of TSleeS, Re¥ponsibiliti¢s, the trustees (who are also the directors of the charilable company for th¢ pUrpoS of Company law) ar¢ r¢spon¥ible for the preparation of the financial statements and for being 8ati¥fied that they give a true and fair view. and for such internal Control as th¢ truslecs deterniine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or ernir. In preparing the financial statements, the trust¢cs are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable. matter8 related io going concern and using the going concern basis of accounting unless the truslees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 80. Our re8ponsibllltles for the audlt of the financial statements Our objectives are lo obtain reasonable assurance about whether the fanCIal statements as a whole are frec fmm material mi88ta*ment, whether due to fraud or error. and to issue a Report of the Independent Auditor8 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 misslatement when it exisit>. Misstalemenls 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 the¥e financial Statements. Th¢ ¢xtent to which our procedures are capable of detecting irregulBrities, including fraud 18 detailed below: Based on our understanding of the company and industry we did not identify any risks of non compliance with law8 and regulations that would impact on the companls ability lo trade or have a marIal impact on the financial statements. We also con8idered those laws and regulations that have a direct impact on the preparation of the financial statements. such the Companies Act 2006 and UK tsx legislation, We evaluated management's incentives and opportunxties for fraudulent manipulation of the financial ststements (including the risk of override of controls), and deterniined that the principal risk was regarding futLwe funding and whether the charity could meet its commitments. Audit procedures p¢rfom)ed includcd: discussions with management, including con8idcration of known or suspected instance8 of non-compliance with laws and regulations and fraud. reviewing correspondence for any issues of non-compliance. challenging assumptions and judgernents made by management in their significant a¢¢ounting estimates and judgements. review minutes from all board minutes to ensure that all grants are approved and to note any significant matters that may require adjustment ofor disclosure in the fUnCIal statements. testing the commitments in detail to confJrn] fLmding levels required. reviewing funding agreements for any clawback provisions.
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LEAGUE TRUST LTD There are inherent limitations in the audit procedures described above and the further renVed non-compliance WAth laws and regulations is from the events and transactions reflected in the rjnancial statements, the less likely we would become awar¢ of it. Also. the risk of not detecting a malerial misstatement due to fraud is higher than the risk of not detecting one resulting from ermr, as fraud may involve deliberate concealment or collusion. A further (ks¢ription of our responsibilities for th¢ audit of the fanCIal 81alennts is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsre8ponsibilities. Thi8 description forn part of our Report of the Indep¢ndent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, in aOrdanCe 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 compan8 members those matters we are requir¢d io state to them in an auditors, report and for no other puOSe. To the fullest extent pern]itted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charxtable companys member3 as a body. for our audit work, for this report, or for th¢ opinions we have fonned. Victoria Brassington BA FCA (Senior Statutory Auditor) for and on behalf of Blackth0rn8 Chartered AOUntants and Re8lStered Auditors Admiral House Waterfront East Brierley Hill West Midlands DY5 IXG 28 Febnwy 2025
THE NATIONAL LEAGUE TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2024 31.5.24 Total funds 31.5.23 Total funds Unrestrleted fund Restricted fundg Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,200,000 1,200,000 1,209,724 Investment incomc 20,349 20,349 7,420 Total 1.220,349 1,220,349 1,217,144 EXPENDITURE ON Charltable aetlvltles Grants to Club Community Organisations (CCOS) Management Governance 1,025,858 1.025,858 1.124,632 5,755 6,879 11.265 11,265 Other 139,919 139,919 102,240 Total 1,177,042 1,177,042 1,239,506 NET L¥COMEI(EXPENDITURE) 43,307 43,307 (22,362) RECONCILIATION OF FUNDS Total fimds brought forward 1,143,321 1,143,321 1,165,683 TOTAL FUNDS CARRIED FORWARD 1,186,628 1,186,628 1,143,321 The notes forn] part of these financial statements -io-
THE NATIONAL LEAGUE TRUST LTD BALANCE SHEET 31 MAY 2024 31.5.24 Tot41 funds 31.5.23 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Tangible assets 12 3,232 3,232 412 CURRENT ASSETS Debiors Cash at bank 13 1,200,000 731,600 1.200,000 731.600 1,909,260 1,931.600 1,931,600 1,909,260 CREDITORS Amounls falling duc within one year 14 (748.204) (748,204) (766,351) NET CURRENT ASSETS ,183,396 1,183,396 1,142,909 TOTAL ASSETS LESS CURRENT LIABILITIES 1,186,628 ,186,628 1,143,321 NET ASSETS 1,186,6211 1,186,628 1,143.321 FUNDS Rcslricted lunds: Main Grdnt Fund Prtmary 8tar8 Fund 16 ,013,613 173,015 893,082 250,239 1.186,628 .143,321 TOTAL FUNDS 1.186,628 1,143,321 Thesc financial slalements have bcen prepared in accordan¢¢ with thc provisions applicable to charitable ¢ompanics subject to th¢ small compani¢s regimc. The financial statemcnts were approved by the Board of Truslees and authorised for i88UC . and wer¢ signed on its behalf by: on . .7.. ".z¥c/J . car N J Perchard- Tnte¢ The notes form part of these financial statements
THE NATIONAL LEAGUE TRUST LTD BALANCE SHEET 31 MAY 2024 31.5.24 Total funds 31.523 Total funds Unre5trlcted fund Restrleted funds Notes FIXED ASSETS Tangible ass¢ts 12 3,232 3,232 412 CURRENT ASSETS Debtors Cash bank 13 1.200.000 731,600 1,200,000 731,600 1.909.260 1.931,600 1,931,600 1,909.260 CREDITORS Amounts falling due within one year 14 (748,204) (748,204) {766.351) NET CURRENT ASSETS 1,183.396 1,183,396 1,142,909 TOTAL ASSETS LESS CURRENT LIABILITIES 1,186,628 1,186,628 1,143,321 NET ASSETS 1,186,628 1,186.628 1,143,321 FUNDS Restricted fiinds.. Main Grant Fwjd Prirnory Stars Fund 16 1,013,613 173,015 893.082 250,239 1,186,628 1,143.321 TOTAL FUNDS 1,186,628 1,143,321 These financial 8tat¢ments havc been prepared in a¢¢ordance with the provision5 applicablc to charilable companies subject to the sm1 comp&nies r¢8ime. The financial statements wcre approved by thc Board of Trustees And authorised for issue 27 IZI<.,S" . and were si8n¢d on its behaifby.. on J D Pearce - Tntee N J Perchard - TnteC Th¢ notes fomi part of thes¢ fjnancial statements
THE NATIONAL LEAGUE TRUST LTD CASH FLOW STATEMEiYr FOR THE YEAR ENDED 31 MAY 2024 31.5.24 31.5.23 Notes Cash IloTrvs from operating actlvltles Cash generated from operations (1,321,557) (22,042) Net cash used in operating activities (1.321,557) (22,042) Cash flows from Investlng Acllvities Purchase of tsngible fixed assets Interest received (3,300) 20,349 7,420 Net cash provided by inve8ting activities 17,049 7,420 Change In cash And cash equlvalents In the reportlDg perlod Cydsh Vdnd txsh equivalents at the beglnnlng of the reportlng perlod (1,304,508) (14,622) 1,909,260 1,923,882 Cash and ea8b equlvvdlents At the end of the reportlng perlod 604,752 1,909,260 The notes fonn part of these fmancial statements -12-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2024 RECONCtLIATtON OF NET INCOMEI(EXPENDTTURE) TO IYET CASH FLOW FROM OPERATING ACTIVITIES 31.5.24 31.5.23 et Incomel(expenditure) for the reporting perlod (as per the Statement of Flnanclal Activltles) Adjustments for: Depreciation charges Interest received (Increa8e)/decrease in debtor8 (Decrease)lincrea8e in creditors 43,307 (22.362) 480 (20,349) (1.200,000) (144.995) 705 (7,420) 460 6,575 Net cash used In operations (1.321,557) (22.042) ANALYSIS OF CASH AND CASH EQUIVALENTS 31.5.24 31.5.23 Notice deposils {less than 3 months) Overdrafts included in bank loans and overdrafts falling due WAthin one year 731,600 (126,848) 1,909,260 Total cash and ¢a8h equivalents 604.752 1,909,260 ANALYSIS OF CHANGES IN NET FUNDS At 1.6.23 Cash flow At 31.5.24 Iyet caih Cash at bank Bank overdraft 1,909,260 (1,177,660) (126,848) 731,600 (126.848) 1,909,260 (1,304,508) 604,752 Total 1,909,260 (1,304,508) 604,752 The notes forn] part of these fllW]cial statements -13-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 STATifroRY INFORMATION The National Ixague Trust Ltd is a private charitable company, limited by guarantee. regtsterrd in England and Wale8.The registered company number is 07877720. The address of the charity's registered offic¢ is Waterloo House, 20 Waterloo StreeL Binningham. B2 5TB. The financial statements are pre¥ented in Sterling, which is the functional currency of the charitable company. ACCOUNTllYG POLICIES Basls of prep¥drlng the flnanelal statements The fmancial ststements of the charitable company? which is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practic¢ applicable to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income 18 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Voluntary income by way of donations are included in full in the Statement of Financial Activitics when receivable. Bank interest is included in the period in which it accwes. Resources expended Liabilities are recogni8ed as cxpenditure a8 soon as there is a legal or ¢onstructive obligation Committing the charity lo that expendttLwe, it 18 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrua18 basis and has been classified under h¢ading8 that ag8re8ate all cost r¢lated to the ¢at¢gory. Where costs ¢annot be dirtlY attributed to particular headings they have been allocat¢d to activities on a basis consi8tent with the use of re50urce8. The charity 18 not registered for VAT, and expendimre 18 analy8ed inclusive of VAT where this has bcen incurred. Support costs compri¥e those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. Governance costs include th08e Costs associated with meeting the constitutional and statutory requirement8 of the charity and include the audit fee and costs linked to the strategic management of the charity. Grants payable are payments to third parties in the furtherance of the charitable objecL8 of the TrusL Granis are accounted for in the year in which they are awarded without conditio Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expendiiure. Cvdsh and cash equivalents Cash and cash equivalents compri8¢ cash at bank and on hand, demand dq)osits with bank8 and other Short terni highly liquid investments with original rnaturities ofthree months or less. -14-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 ACCOUNTING POLICIES - continued TAnglble fixed assets Depreciation 18 provided at the following annual rates in order to write off each asset over its estima*d usefi life. Fixtures and fittings Computer equipment 200/0 on cost 25Q/o on c08t Tangible fLxed assets held for the charitable CoMpanS own use are 8tated at cost less depreciation and accumulated impainnent1088es. At each balance sheet date, the charitable company reviews the ¢arrying amount of its tangible fixed assets to detern]ine whether there is Any indication that any items have suffered an impairnient loss. If any su¢h indication exists, the recoverable amount of an asset is estimated in order to detcrniine the extent of the irnp&irn)ent108ses, if any. Where it is not P088ible to estimate the recoverable amount of the asset, the company estimales the recoverable amount of the cash-generating unit to which the ass¢t belongs, Taxatlon The charity 18 exempt from corporatton tsx on its charitsble activitie8. Fund aecountlng untricted ndS can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restriction arise when specified by the donor or when funds are raised for particular restricted purpotJes. In the year to 31 May 2023 all funds are restricted and the balance on the funds, and further explanation of the nature and purpose of each fund. are included in the notes to the financial 8tatement8. Flnanelal In8trument$ The charity only ha8 financial assets and fanCIal liabilities of a kind that qualify a8 basic fancIal instruments. Basic fanCial in8trument8 are initially recOgnid at transaction value and subsequently measured at their 8ettl¢ment value. Trade and other debtorg Trade and other debtor8 are recongnised at the settlement amount after any trade di8COiUIt offered. Trade and other credltors Trade and other creditor8 are recognised where the charity ha8 a pre8ent obligation resulting from a past event and the amount due to ¥etile the obligation can be measured or e8timated reliably. Creditors are recognised at their settlement amount after allowing for any trade dAscounts du¢. Going coneern No nterial uncertaintie¥ exist related io events or conditions that may cast doubt upon the charAty'8 ability to continue as a going concern. -15-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 DONATIONS AND LEGACIES 31.5.24 31.5.23 Donations 1,200,000 1,209,724 INVESTMENT INCOME 31.5.24 31.5.23 Deposit account interest 20,349 7,420 CHARITABLE ACTIVITIES COSTS Grant funding of acllvltlel (see note o) Support Costs (see note 7) Total8 Grant8 to Club Community Organisation8 (CCOS) Governance 1,025,858 1,025,858 11,265 11,265 1,025,858 1,265 1,037,123 GRANTS PAYABLE 31.5.24 31.S.23 Grants to Club Community Or8anisations (CCOS) 1,025,858 1,124,632 31.05.2024 31.05.2023 Grants to National League CCOS Grants WAthdrawn Transfer of fimds from n1n grant fimd to Women and Girls fund 1,025.858 1,183,308 (68,400) 9,724 1,025,858 1,124,632 -16-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMEIIryS - eontinued FOR THE YEAR ENDED 31 MAY 2024 SUPPORT COSTS Governance eosts Management Other Totals Other re80urces expended 84,704 55,215 139,919 11,265 11,265 84,704 55,215 11,265 151,184 Support costs. included in the above, are as follow8: 31.5.24 31.5.23 Other re8ouree8 expended Total aetlvit1¢6 Total actlvllles Governance Admini8tration support Sundries Publi¢ relations and media costs Tournaments Computer and Software Views monitoring Depreciation of tangible fed asset8 Auditors, remuneration Accountancy and legal fee8 84,704 7,563 9,186 20.426 1,432 16,128 480 84,704 7,563 9,186 20,426 1,432 16,128 480 4,771 6,494 63,795 7,707 1,037 17,942 2,352 14,457 705 4,380 2,499 4.771 6,494 139,919 11,265 151,184 114,874 1¥4ET INCOMEI{EXPENDITURE) Net incomel(¢xpenditure) is stated after chargingl(crediting): 31.5.24 31.5.23 Auditors, remuneration Dcpreciation - owned assets 4.771 480 4,380 705 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneratxon or other benefits for the year end¢d 31 May 2024 nor for the year ended 31 May 2023. -17-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 TRUSTEES, REMUNERATION AND BENEFITS - continued Trustees, expenses During the year a trustee was paid a total of £387 {2023 - £Nil) for travelling and slationery costs. io. STAFF COSTS Total staff costs for the year ended 31 May 2024 werc 31.05.2024 75,841 2,023 6,839 31.05.2023 56,336 1,734 5,726 Wages and Salaries Social security costs Pension contributions 84.703 63,796 The average monthly number of employees during the year was as follow8: 31.S.24 31.5.23 Administration No cmployees received emoluments in excess of £60,000. ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrleted fund Restrleted funds Total funds INCOME AND ENDOWMENTS FROM Donation8 and legacie8 1,209,724 1,209,724 Investment income 7,420 7,420 Total 1.217,144 1,217,144 EXPENDITURE OIY Charltable aelivltles Grants to Club Community Organisations {CCOs) Management Governance 1,124,632 5,755 6,879 1,124,632 5,755 6,879 Other 102,240 102240 Total 1,239,506 1,239,506 NET INCOMEI(EXPEIYDITURE) (22,362) (22,362) RECONCILIATION OF FUNDS Total funds brought forward 1.165,683 1,165,683 -18-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - eontlnued Unrestrlcted Restricted fund funds Totsl funds TOTAL FUNDS CARRIED FORWARD 1,143,321 1,143.321 12. TANGIBLE FIXED ASSETS Flxtures and flttlngs Computer equipment Tota COST At l June 2023 Addition8 Disposals 3,524 1,642 3,300 (1,642) 5,166 3.300 (1,642) At 31 May 2024 3,524 3.300 6,824 DEPRECIATION At l June 2023 Charge for year Elin]inated on disposal 3,112 411 1,642 69 (1,642) 4.754 480 (1,642) At 31 May 2024 3,523 69 3,592 NET BOOK VALUE At 31 May 2024 3,231 3.232 At 31 May 2023 412 412 13. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.5.24 31.5.23 Other debtors 1,200,000 -19-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MAY 2024 14. CREDrroRS: AMOUNTS FALLING DUE WTTHIIY ONE YEAR 31.5.24 31.5.23 Bank loans and overdrafts {se¢ not¢ 15) Grants awarded Other creditors Accrned ¢xpenses 126,848 615,269 760,541 6,082 5,810 748,204 766,351 15. LOANS An analysis of the maturity of loans is given below: 31.5.24 31.5.23 Amounts falling due within one year on demand: Bank overdraft8 126,848 16. MOVEMENT IN FUNDS Net movement In fundg At 31.5.24 At 1.6.23 Restrlcted funds Main Grant Fund Primary Stars Fund 893,082 250,239 120,531 (77,224) 1,013,613 173,015 1,143.321 43,307 1,186,628 TOTAL FUNDS 1.143,321 43,307 1,186,628 Net movement in funds, included in the above are as follows: Incomjng resources Resources expended Movement In funds Reslrlcted funds Main Grant Fund Primary Stars Fund 920,349 300,000 (799,818) (377,224) 120,531 (77.224) 1,220,349 (1,177,042) 43,307 TOTAL FUNDS 1,220,349 (1,177,042) 43.307 -20-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 16. MOVEMEI¥4T IN FUNDS - contlnued Compvdratives for movement In funds Net movement in funth At 31.5.23 At 1.6.22 Re8trlcted lunds Main Grant Fund Primary Stars Fund Women & Girls Developmeni Fund 812,540 330,867 22,276 80,542 (80,628) (22,276) 893,082 250,239 1,165,683 {22,362) 1.143,321 TOTAL FUNDS 1,165,683 (22,362) 1,143.321 Comparative net movement in funds, included in the above are a8 follows: Ineomlng resource8 Resources expended Movement In fund8 Restrlcted funds Main Grant Fund Primary Stars Fund Women & Girls Development Fund 907,421 299,999 9.724 (826,879) (380,627) (32,000) 80,542 (80,628) (22.276) 1,217,144 (1,239,506) {22,362) TOTAL FUNDS 1,217,144 (1,239.506) (22.362) A current year 12 months and prior year 12 months combined position is as follows: 1¥4et movement In funds At 31.5.24 At 1.6.22 Restricted funds Main Grant Fund Primary Stars Fund Women & Girls Development Fund 812,540 330,867 22,276 201,073 (157,852) (22,276) 1,013,613 173,015 1,165,683 20,945 1.186,628 TOTAL FUNDS 1,165.683 20,945 1,186,628 -21-
THE NATIONAL LEAGUE TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024 16. MOVEMENT IN FtJNDS - continued A current year 12 months and prior year 12 months combined net movement in funds. included in the abov¢ are as follows-. Incon8 resources Resources expended Movement In fullds Restrlcted funds Main Grant Fund Primary Stars Fund Wonjen & Girls Development Fund 1,827,770 599,999 9,724 (1,626,6971 (757,851) (32,000) 201,073 (157,852) (22,276) 2.437,493 (2.416,548) 20,945 TOTAL FUNDS 2,437,493 (2,416,548) 20,945 Premler Levdgue Primary Stars - This is an education programme that connects learning to the world of sport to enthuse pupils when tackling challenging topics. Women and Glrls Fund - Thi8 pilot programme was in conjunction with the Wembley National Stsdium Trust. Selected CCOS w¢re chosen in partnership with the FA to pmvide an effective vehicle to cncourage more female8 to play football. Maln Fund - All other projects 8UPPOrted by the charity are under the main fund. This 8UPPOrts all other projects of CCOS to promote a healthier physical and mental lifestyle in the local community. 17. RELATED PARTY DISCLOSURES There were no related party transa¢tions for the year ended 31 May 2024. 18. ULTIMATE CONTROLLING PARTY The ultimate ¢ontrolling paty 18 The Football Conference Limited, known as The National League, who is the Sole member, although the charity is under the day to day control of the Tru5t¢e8. -22-
THE NATIONAL LEAGUE TRUST LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024 31.5.24 31.5.23 INCOME AND ENDOWMENTS Donatlons and legydeles Donations 1,200,000 1,209,724 Investment Incon Depo8lt account interest 20,349 7,420 Total Incomlng reiources 1,220,349 1,217,144 EXPENDrruRE Charitable aetivltlej Grants to institutions 1,025,858 1.124,632 Support colts Management Admini¥tration support 84,704 63,795 Other Sundrie8 Public relations and media costs Tournaments Computer and software Views monitoring Fixtures and fittings Computer equipment 7,563 9,186 20,426 1,432 16,128 411 69 7,707 1,037 17,942 2,352 14.457 705 55,215 44,2CH) Covernanee eostg Auditors, remuneration Accountancy and legal fees 4,771 6,494 4,380 2,499 11,265 6,879 Total resoUe8 expended 1,177,042 1,239,506 Iyet Incomel(expendlture) 43.307 (22.362) This page does not forni part of the statutory fuwicial statements -23-