REGISTERED CHARITY NUMBER: 1154131
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 6 August 2025
for
The Stiliyan Petrov Foundation
Ground Control Business Management
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 2025
----- Start of picture text -----
Page
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
----- End of picture text -----
The Stiliyan Petrov Foundation
Report of the Trustees
for the Year Ended 6 August 2025
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended6 August2025.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republicof 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 applythe 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
- Applicationsfromorganisations/institutionshaveto ensurethatany grantsare investedin the treatment,researchor prevention
of cancer based illnesses;
- The Foundationwill willinglywork in partnershipwith other organisationsto fund initiativesbeyondthe financialscope of a single
organisation.
TheTrusteeswillnotnormallyapprovetheuseoftheFoundation'sfundsforanythingexpectmedicalresearch,development or
treatment of cancer based illnesses.
All applicationsforgrantsshouldbe completedin conjunctionwiththispolicy.Theyare encouragedto contactthe Foundation via
the Foundation's website.
Any applicationswill be subject to initial assessmentto ensure they meet the basic criteria for funding. Applicantsmust be prepared
to providesuch otherinformationas the Trusteesmay reasonablyrequirein orderto assistthem in their decision-making process.
GrantswillbeconsideredbytheTrusteesattheirmeetings,andtheTrusteeswillaimtocontactallapplicantsinformingthem 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 2025
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Foundationhas been in existencesince September2013. In the year to 6 August 2025 the Foundationraised £46,905and spent
£42,076.TheFoundationhelda golfdayatTheForestofArdenintheWestMidlandsinMay2025.Theeventwasa huge success
with over twenty teams entering and a charity auction taking place in the evening.
Theeventwasattendedbymanyformerprofessionalfootballers,aswellothercelebritiesfromtheworldoftelevision and
entertainment.Itishopedthatasimilareventwillbeheldduring2026,togetherwithanothercharityfootballmatchin Bulgaria
featuring many former professional footballer players.
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 £46,905(2024- £10,168).Expenditureon charitableactivitieswas £41,336 (2024
- £31,127). Total expenditure for the year was £42,076 (2024 - £41,287).
Reserves policy
TheTrusteesdefinethecharity'sreservesas "incomewhichis tobe spentorinvestedat theTrustees'discretionin furtherance of
anyofthe charity'sobjects,but whichis notyetspent,committedor designated".Thelevelofreservesheldby the charityas at 6
August 2025 was £25,294 (2024 - £20,465). The Trustees consider this level of reserves to be satisfactory.
FUTURE PLANS
It is the Trusteesintentionto arrangefurthercharityfootballmatches,a sponsoredbicycleride,golfdays,and alsoto raise money
by them making high profile appearances on radio and television.
The Trustees intend to continueto make grants to support the treatmentof cancer and to assist and relieve the sufferingof persons
sufferingfromcancerin theUnitedKingdom.Additionally,theTrusteesareconsideringraisingfundstopayforcancer 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
Trustees
S Petrov
P Petrova
S Lynch
Page 2
The Stiliyan Petrov Foundation
Report of the Trustees
for the Year Ended 6 August 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Christopher Heeley FCA
Ground Control Business Management
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 5 June 2026 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 2025.
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 acrossno other mattersin 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
Ground Control Business Management
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
5 June 2026
Page 4
The Stiliyan Petrov Foundation
Statement of Financial Activities
for the Year Ended 6 August 2025
|
|
2025 |
2024 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
46,905 |
10,168 |
EXPENDITURE ON |
|
|
|
Raising funds |
|
37,018 |
17,127 |
Charitable activities |
|
|
|
Charitable activities |
|
3,548 |
14,000 |
Governance costs |
|
740 |
10,160 |
Management |
|
770 |
- |
Total |
|
42,076 |
41,287 |
NET INCOME/(EXPENDITURE) |
|
4,829 |
(31,119) |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
20,465 |
51,584 |
TOTAL FUNDS CARRIED FORWARD |
|
25,294 |
20,465 |
The notes form part of these financial statements
Page 5
The Stiliyan Petrov Foundation
Balance Sheet
6 August 2025
2025
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
4
20,500
Cash at bank
5,294
25,794
CREDITORS
Amounts falling due within one year
5
(500)
NET CURRENT ASSETS
25,294
TOTAL ASSETS LESS CURRENT LIABILITIES
25,294
NET ASSETS/(LIABILITIES)
25,294
FUNDS
6
Unrestricted funds
25,294
TOTAL FUNDS
25,294 |
2024
Total
funds
£
20,500
1,165
21,665
(1,200)
20,465
20,465
20,465
20,465
20,465 |
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon5 June2026andweresignedon 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 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisa publicbenefitentityunderFRS102,havebeenpreparedin accordance
withthe CharitiesSORP(FRS102)'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 incomeis 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'remunerationorotherbenefitsfortheyearended6August2025norfortheyear ended
6 August 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 6 August 2025 nor for the year ended 6 August 2024.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
10,168 |
EXPENDITURE ON |
|
Raising funds |
17,127 |
Charitable activities |
|
Charitable activities |
14,000 |
Governance costs |
10,160 |
Total |
41,287 |
continued...
Page 7
The Stiliyan Petrov Foundation
Notes to the Financial Statements - continued
for the Year Ended 6 August 2025
3. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|
|
|
|
|
Unrestricted |
|
|
|
|
fund |
|
|
|
|
£ |
|
NET INCOME/(EXPENDITURE) |
|
|
(31,119) |
|
RECONCILIATION OF FUNDS |
|
|
|
|
Total funds brought forward |
|
|
51,584 |
|
TOTAL FUNDS CARRIED FORWARD |
|
|
20,465 |
4. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Other debtors |
|
20,500 |
20,500 |
5. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Other creditors |
|
500 |
1,200 |
6. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
Net |
|
|
|
|
movement |
At |
|
|
At 7/8/24 |
in funds |
6/8/25 |
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
General fund |
20,465 |
4,829 |
25,294 |
|
TOTAL FUNDS |
20,465 |
4,829 |
25,294 |
|
Net movement in funds, included in the above are as follows: |
|
|
|
|
|
Incoming |
Resources |
Movement |
|
|
resources |
expended |
in funds |
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
General fund |
46,905 |
(42,076) |
4,829 |
|
TOTAL FUNDS |
46,905 |
(42,076) |
4,829 |
continued...
Page 8
The Stiliyan Petrov Foundation
Notes to the Financial Statements - continued
for the Year Ended 6 August 2025
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 7/8/23 |
in funds |
6/8/24 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
51,584 |
(31,119) |
20,465 |
TOTAL FUNDS |
51,584 |
(31,119) |
20,465 |
Comparative net movement in funds, included in the above are as follows: |
|
|
|
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
10,168 |
(41,287) |
(31,119) |
TOTAL FUNDS |
10,168 |
(41,287) |
(31,119) |
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
|
|
|
movement |
At |
|
At 7/8/23 |
in funds |
6/8/25 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
51,584 |
(26,290) |
25,294 |
TOTAL FUNDS |
51,584 |
(26,290) |
25,294 |
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 |
57,073 |
(83,363) |
(26,290) |
TOTAL FUNDS |
57,073 |
(83,363) |
(26,290) |
continued...
Page 9
The Stiliyan Petrov Foundation
Notes to the Financial Statements - continued
for the Year Ended 6 August 2025
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 6 August 2025.
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 2025
|
2025 |
2024 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
46,905 |
10,168 |
Total incoming resources |
46,905 |
10,168 |
EXPENDITURE |
|
|
Other trading activities |
|
|
Event costs |
37,018 |
17,127 |
Charitable activities |
|
|
Grants to individuals |
3,548 |
14,000 |
Support costs |
|
|
Management |
|
|
Social media |
770 |
- |
Governance costs |
|
|
Bad debts |
- |
9,920 |
Accountancy |
740 |
240 |
|
740 |
10,160 |
Total resources expended |
42,076 |
41,287 |
Net income/(expenditure) |
4,829 |
(31,119) |
This page does not form part of the statutory financial statements
Page 11