``` REGISTERED CHARITY NUMBER: 1154131 ``` ``` Report of the Trustees and Unaudited Financial Statements for the Year Ended 6 August 2023 ``` ``` for ``` ``` The Stiliyan Petrov Foundation ``` ``` Clay GBP Ltd St Johns House 16 Church Street Bromsgrove Worcestershire B61 8DN ``` ``` The Stiliyan Petrov Foundation ``` ``` Contents of the Financial Statements for the Year Ended 6 August 2023 ``` **----- Start of picture text -----**
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 10
Detailed Statement of Financial Activities 11
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``` The Stiliyan Petrov Foundation ``` ``` Report of the Trustees for the Year Ended 6 August 2023 ``` ``` The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended 6 August2023.The trustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities preparing their accountsin accordancewith the FinancialReportingStandard applicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims for the public benefit`** ``` The Trusteesprimaryobjectiveis to hold the capitaland incomeof the trust,and apply the income,and all or such part or parts of thecapital,atsuchtimes,insuchmannerastheTrusteesmayintheirdiscretionthinkfit,for,ortowardsanygeneral charitable purposes,including,but not exclusively,to supportmedicalresearch,and the supportof childrenand familiesof children suffering from medical conditions or diseases. ``` ``` Under the terms of the Trust Deed, the objects of the Foundation are: - To provide practical and/or financial support to individuals suffering with cancer related illnesses ("Aim 1"). ``` ``` - To provide financial support to those institutions whom treat sufferers or research into development of treatment in this area ("Aim 2"). ``` ## **`Public benefit`** ``` TheTrusteesconfirmthattheyhavehaddueregardtotheguidanceprovidedbytheCharityCommissionanddutiessetout in Section 17 (5) of the Charities Act 2011 in respect of public benefit. ``` ## **`Grantmaking`** ``` In awarding grants, the Trustees will apply the following principles: ``` - `Applications from any geographical area, but predominantly within the UK are eligible for consideration` - `Applications will typically be considered only from applicants that are in need of treatment` - `Applications from organisations/institutions have to ensure that any grants are invested in the treatment, research or prevention of cancer based illnesses;` ``` - The Foundationwill willinglywork in partnershipwith other organisationsto fund initiativesbeyond the financialscope of a single organisation. ``` ``` TheTrusteeswillnotnormallyapprovetheuseoftheFoundation'sfundsforanythingexpectmedicalresearch,development or treatment of cancer based illnesses. ``` ``` All applicationsforgrantsshouldbe completedin conjunctionwiththis policy.Theyare encouragedto contactthe Foundation via the Foundation's website. ``` ``` Anyapplicationswillbesubjecttoinitialassessmenttoensuretheymeetthebasiccriteriaforfunding.Applicantsmust be prepared to providesuch other informationas the Trusteesmay reasonablyrequire in order to assist them in their decision-making process.Grantswillbe consideredbytheTrusteesattheirmeetings,andtheTrusteeswillaimtocontactallapplicants informing them of the outcome of their application for funding. ``` ``` Applicantsshouldnotethat,aswithmanyothercharitabletrusts,theStiliyanPetrovFoundationreceivesfarmore applications than it has funds to support. Even if an applicationfits within the criteriaand prioritiesof the Foundationand a detailed assessment has been made, the Foundation may still be unable to provide a grant. ``` ``` The Trustees will not be obliged to provide an explanation to the applicants should their application be unsuccessful. ``` ``` ItisthepolicyoftheTrusteestomonitorallgrantsmade.Tothisend,beforeagrantcanbeconfirmed,conditionsmay be stipulatedappropriatetotheapplicationandprogressmaybeassessedagainstagreedtargetsand/ormilestones.Ifthegrant is payableininstalments,thenpaymentofsubsequentgrantinstalmentsmaybedependentonsatisfactoryprogresshaving been demonstrated and the Trustees reserve the right to withdraw the grant on receipt of unsatisfactory progress reports. ``` ``` FailuretosubmitreportsatthetimespecifiedbytheTrusteesmayalsojeopardisethecontinuationoftheFoundation's support. ThegrantrecipientshouldinformtheFoundationofanyextenuatingcircumstanceswherebythesubmissionofanyreport is delayed, to allow a mutually acceptable date for submission to be agreed. ``` ``` Monitoring visits by representatives of the Charity may be made during the period of a grant. ``` ``` Page 1 ``` ``` The Stiliyan Petrov Foundation ``` ``` Report of the Trustees for the Year Ended 6 August 2023 ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` The Foundationhas been in existence since September 2013. In the year to 6 August 2023 the Foundationraised £87,761 and spent £87,097.InJune2023theFoundationhostedagolfdayatTheBelfryintheWestMidlands..Theeventwasahugesuccess with twentyteamsenteringthe golfdayand overone hundredpeoplein attendanceforthe eveningmeal,includingmanycurrent and ex professional footballers ``` ``` TowardstheendoftheyearpreparationsalsobeganfortheMatchofHope,ancharityfootballmatchbetweenex professionals, which was to be held in Sofia, Bulgaria in September 2023. ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` TheTrusteeshaveareasonableexpectationthattheFoundationwillcontinueinexistencefortheforeseeablefutureand have, therefore, used the going concern basis in preparing the financial statements. ``` ``` TheFoundationisdependentupondonationsfrommembersofthegeneralpublic,frombusinessassociates,andfrom income generatedby events. Incomeduring the year was £87,761 (2022 - £40,292).Expenditureon charitableactivitieswas £85,777 (2022 - £25,253). Total expenditure for the year was £87,097 (2022 - £27,353). ``` ## **`Reserves policy`** ``` The Trusteesdefinethe charity'sreservesas "incomewhichis to be spentor investedat the Trustees'discretionin furtherance of any of the charity'sobjects,but whichis not yet spent,committedor designated".The levelof reservesheld by the charityas at 6 August 2023 was £51,584 (2022 - £50,920). The Trustees consider this level of reserves to be satisfactory. ``` ## **`FUTURE PLANS`** ``` It is the Trusteesintentionto arrangefurthercharityfootballmatches,a sponsoredbicycleride, golf days,and also to raise money by them making high profile appearances on radio and television. ``` ``` TheTrusteesintendtocontinuetomakegrantstosupportthetreatmentofcancerandtoassistandrelievethesuffering of personssufferingfromcancerintheUnitedKingdom.Additionally,theTrusteesareconsideringraisingfundstopayfor cancer treatments in Bulgaria, this being the home country of two of the Trustees. ``` ``` The Trusteeshave plans in place that will ensure that the funding of the Foundationcontinues.This will enable them to continue to make funding grants aimed and improving the treatment available to sufferers of cancer across the United Kingdom. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document`** ``` The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ``` ## **`Recruitment and appointment of new trustees`** ``` The Trustees may appoint new and additional Trustees by a resolution of the Trustees passed at a Trustees meeting. ``` ## **`Organisational structure`** ``` All administrative decisions are made jointly by the Trustees. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Charity number`** ``` 1154131 ``` ## **`Principal address`** ``` First Floor St Johns House 16 Church Street Bromsgrove Worcestershire B61 8DN ``` ``` Page 2 ``` ``` The Stiliyan Petrov Foundation ``` ## **`Report of the Trustees for the Year Ended 6 August 2023`** ## **`Trustees`** ``` S Petrov P Petrova S Lynch ``` ## **`Independent Examiner`** ``` Christopher Heeley FCA Clay GBP Ltd St Johns House 16 Church Street Bromsgrove Worcestershire B61 8DN ``` ## **`Solicitors`** ``` Gregory Abrams Davidson Solicitors 20-24 Matthew Street Liverpool L2 6RE ``` ``` Approved by order of the board of trustees on 6 June 2024 and signed on its behalf by: ``` ``` S Petrov - Trustee ``` ``` Page 3 ``` ``` Independent Examiner's Report to the Trustees of The Stiliyan Petrov Foundation ``` ## **`Independent examiner's report to the trustees of The Stiliyan Petrov Foundation`** ``` I reportto the charitytrusteeson my examinationof the accountsof The StiliyanPetrovFoundation(the Trust)for the year ended 6 August 2023. ``` ## **`Responsibilities and basis of report`** ``` As the charitytrusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the examination giving me cause to believe that in any material respect: ``` `1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.` ``` I have no concernsand have come across no other matters in connectionwith the examinationto which attentionshould be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` Christopher Heeley FCA ``` ``` Clay GBP Ltd St Johns House ``` ``` 16 Church Street Bromsgrove Worcestershire B61 8DN ``` ``` 6 June 2024 ``` ``` Page 4 ``` ``` The Stiliyan Petrov Foundation ``` ## **`Statement of Financial Activities`** ## **`for the Year Ended 6 August 2023`** |||**`2023`**|**`2022`**| |---|---|---|---| |||**`Unrestricted`**|**`Total`**| |||**`fund`**|**`funds`**| ||**`Notes`**|**`£`**|**`£`**| |**`INCOME AND ENDOWMENTS FROM`**|||| |`Donations and legacies`||`87,761`|`40,292`| |**`EXPENDITURE ON`**|||| |`Raising funds`||`68,836`|`15,152`| |**`Charitable activities`**|||| |`Charitable activities`||`16,300`|`5,550`| |`Governance costs`||`1,961`|`6,651`| |**`Total`**||`87,097`|`27,353`| |**`NET INCOME`**||`664`|`12,939`| |**`RECONCILIATION OF FUNDS`**|||| |`Total funds brought forward`||`50,920`|`37,981`| |**`TOTAL FUNDS CARRIED FORWARD`**||`51,584`|`50,920`| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ``` The Stiliyan Petrov Foundation ``` ## **`Balance Sheet`** ## **`6 August 2023`** |**`2023`**
**`Unrestricted`**
**`fund`**
**`Notes`**
**`£`**
**`CURRENT ASSETS`**
`Debtors`
`4`
`48,269`
`Cash at bank`
`5,715`
`53,984`
**`CREDITORS`**
`Amounts falling due within one year`
`5`
`(2,400)`
**`NET CURRENT ASSETS`**
`51,584`
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
`51,584`
**`NET ASSETS`**
`51,584`
**`FUNDS`**
`6`
`Unrestricted funds`
`51,584`
**`TOTAL FUNDS`**
`51,584`|**`2022`**
**`Total`**
**`funds`**
**`£`**
`30,420`
`31,212`
`61,632`
`(10,712)`
`50,920`
`50,920`
`50,920`
`50,920`
`50,920`| |---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon6 June2024andweresignedon its behalf by: ``` ``` S Petrov - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` The Stiliyan Petrov Foundation ``` ``` Notes to the Financial Statements for the Year Ended 6 August 2023 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichis a publicbenefitentityunderFRS102,havebeenpreparedin accordance with the CharitiesSORP(FRS 102) 'Accountingand Reportingby Charities:Statementof RecommendedPractice applicable to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared under the historical cost convention. ``` ## **`Income`** ``` All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings they have been allocated to activities on a basis consistent with the use of resources. ``` ``` Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbut not accrued as expenditure. ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ## **`2. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended6August2023norfortheyear ended 6 August 2022. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 6 August 2023 nor for the year ended 6 August 2022. ``` ## **`3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** ||**`Unrestricted`**| |---|---| ||**`fund`**| ||**`£`**| |**`INCOME AND ENDOWMENTS FROM`**|| |`Donations and legacies`|`40,292`| |**`EXPENDITURE ON`**|| |`Raising funds`|`15,152`| |**`Charitable activities`**|| |`Charitable activities`|`5,550`| |`Governance costs`|`6,651`| |**`Total`**|`27,353`| ``` continued... ``` ``` Page 7 ``` ``` The Stiliyan Petrov Foundation ``` ``` Notes to the Financial Statements - continued for the Year Ended 6 August 2023 ``` ## **`3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** |||||**`Unrestricted`**| |---|---|---|---|---| |||||**`fund`**| |||||**`£`**| ||**`NET INCOME`**|||`12,939`| ||**`RECONCILIATION OF FUNDS`**|||| ||`Total funds brought forward`|||`37,981`| ||**`TOTAL FUNDS CARRIED FORWARD`**|||`50,920`| |**`4.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||| ||||**`2023`**|**`2022`**| ||||**`£`**|**`£`**| ||`Trade debtors`||`9,920`|`9,920`| ||`Other debtors`||`20,500`|`20,500`| ||`Prepayments and accrued income`||`17,849`|`-`| ||||`48,269`|`30,420`| |**`5.`**|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||| ||||**`2023`**|**`2022`**| ||||**`£`**|**`£`**| ||`Trade creditors`||`1,200`|`1,200`| ||`Other creditors`||`1,200`|`9,512`| ||||`2,400`|`10,712`| |**`6.`**|**`MOVEMENT IN FUNDS`**|||| ||||**`Net`**|| ||||**`movement`**|**`At`**| |||**`At 7/8/22`**|**`in funds`**|**`6/8/23`**| |||**`£`**|**`£`**|**`£`**| ||**`Unrestricted funds`**|||| ||`General fund`|`50,920`|`664`|`51,584`| ||**`TOTAL FUNDS`**|`50,920`|`664`|`51,584`| ||`Net movement in funds, included in the above are as follows:`|||| |||**`Incoming`**|**`Resources`**|**`Movement`**| |||**`resources`**|**`expended`**|**`in funds`**| |||**`£`**|**`£`**|**`£`**| ||**`Unrestricted funds`**|||| ||`General fund`|`87,761`|`(87,097)`|`664`| ||**`TOTAL FUNDS`**|`87,761`|`(87,097)`|`664`| ``` continued... ``` ``` Page 8 ``` ``` The Stiliyan Petrov Foundation ``` ``` Notes to the Financial Statements - continued for the Year Ended 6 August 2023 ``` ## **`6. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |||**`Net`**|| |---|---|---|---| |||**`movement`**|**`At`**| ||**`At 7/8/21`**|**`in funds`**|**`6/8/22`**| ||**`£`**|**`£`**|**`£`**| |**`Unrestricted funds`**|||| |`General fund`|`37,981`|`12,939`|`50,920`| |**`TOTAL FUNDS`**|`37,981`|`12,939`|`50,920`| |`Comparative net movement in funds, included in the above are as follows:`|||| ||**`Incoming`**|**`Resources`**|**`Movement`**| ||**`resources`**|**`expended`**|**`in funds`**| ||**`£`**|**`£`**|**`£`**| |**`Unrestricted funds`**|||| |`General fund`|`40,292`|`(27,353)`|`12,939`| |**`TOTAL FUNDS`**|`40,292`|`(27,353)`|`12,939`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |||**`Net`**|| |---|---|---|---| |||**`movement`**|**`At`**| ||**`At 7/8/21`**|**`in funds`**|**`6/8/23`**| ||**`£`**|**`£`**|**`£`**| |**`Unrestricted funds`**|||| |`General fund`|`37,981`|`13,603`|`51,584`| |**`TOTAL FUNDS`**|`37,981`|`13,603`|`51,584`| ``` A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ``` ||**`Incoming`**|**`Resources`**|**`Movement`**| |---|---|---|---| ||**`resources`**|**`expended`**|**`in funds`**| ||**`£`**|**`£`**|**`£`**| |**`Unrestricted funds`**|||| |`General fund`|`128,053`|`(114,450)`|`13,603`| |**`TOTAL FUNDS`**|`128,053`|`(114,450)`|`13,603`| ``` continued... ``` ``` Page 9 ``` ``` The Stiliyan Petrov Foundation ``` ``` Notes to the Financial Statements - continued for the Year Ended 6 August 2023 ``` ## **`7. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 6 August 2023. ``` ## **`8. FUNDS`** ``` The general fund is used to further the objectives and aims of the charity. ``` ``` Page 10 ``` ``` The Stiliyan Petrov Foundation ``` ``` Detailed Statement of Financial Activities for the Year Ended 6 August 2023 ``` ||**`2023`**|**`2022`**| |---|---|---| ||**`£`**|**`£`**| |**`INCOME AND ENDOWMENTS`**||| |**`Donations and legacies`**||| |`Donations`|`87,761`|`40,292`| |**`Total incoming resources`**|`87,761`|`40,292`| |**`EXPENDITURE`**||| |**`Other trading activities`**||| |`Event costs`|`68,836`|`15,152`| |**`Charitable activities`**||| |`Grants to individuals`|`16,300`|`5,550`| |**`Support costs`**||| |**`Management`**||| |`Social media`|`641`|`4,551`| |**`Governance costs`**||| |`Accountancy`|`1,320`|`2,100`| |`Total resources expended`|`87,097`|`27,353`| |**`Net income`**|`664`|`12,939`| ``` This page does not form part of the statutory financial statements ``` ``` Page 11 ```