Charity registration number 1157548
Company ￿giStratIon number 09035797 {England and Wales)
IPSWICH TOWN FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

IPSWICH TOWN FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
R Neal
RAdam
M Holland
N Thomas
M Ashton
A Stevens
C Chaplin
P Over
E Edwards
T Ball
R Mackie
Charity number
1157548
Company number
09035797
Registered office
Ipswich Town Football Club
Portman Road
Ipswich
IP12DA
Auditor
Ensors Accountants LLP
Connexions
159 Princes Street
Ipswich
IP1 1QJ
Bankers
Bardays Bank UK PLC
Birmingham
B13PF
Solicitors
Birketts LLP
141-145 PrIn￿S Street
Ipswich
IP1 1QJ
CEO
Mr Daniel Palfrey

IPSWICH TOWN FOUNDATION
CONTENTS
Page
Trustees, report
Statement of trustees. responsibilities
Independent auditorfs report
9-12
Statement of financial activities
13
Balance sheet
14
statement of cash flows
15
Notes to the financial statements
16-28

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 JUNE 2024
The trustees present their annual report and financial statements for the year ended 30 June 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply wth the charity's goveming document, the Companies Act 2006 and "Accounting
and Reporting by Charities= Statement of Recommended Practice 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 2019).
Objectives and activities
Ipswich Town Foundation is the official charity of Ipswch Town Football Club. The charity's goveming document, the
memorandum and articles of association sets out its purposes for the benefit of the inhabitants of the town of
Ipswich, the county of Suffolk and surrounding areas through the charitable objectives.
The Charitable Company's objects are for the benefit of the public generally and in particular the inhabitants of
Suffolk and the surrounding areas and are=
To promote and assist in promoting community participation in healthy recreation:
b. To further and assist in the education (on a social and physical basis) of children attending schools within
Suffolk and the surrounding area through the use of the game of football and other sports activities as
educational tools-
To advance and assist in advancing the education of children and young people attending schools in
Suffolk and the surrounding area by the provision of lectures, classes, and activities for the benefit of such
children and young people and by the provision of educational materials for distribution to such children
and young people.
d. To promote social inclusion for the public benefft by preventing people from becoming socially excluded
from instances such as unemployment.. financial hardship,. youth or old age., ill health (physical or mental},
relieving the needs of these people who are socially excluded and assisting them to integrate into society.,
To provide or assist in providing facilities for recreation and other leisure time occupation in the interests of
social welfare and with the object of improving the condits'ons of life for those whom the facilities are
provided.,
To act as a resource for young people in Suffolk and the surrounding area by providing advice, assistance
and organising programmes of physical, educational and other activities as a means of= (a) advancing in
life and helping young people by developing their skills, capacities and capabilities to enable them to
participate in society as independent, mature and responsible individuals, and (b) advancing education.,
g. To promote any other purpose. which is charitable according to English law.
Ipswich Town Foundation - S-year strategy12023-2028)
Ipswich Town Foundation is one year into its 'Presence wth Purpose, strategy which aims to build an empowered,
inspired and inclusive community to be proud of. By using the presence, power and reach of Ipswich Town Football
Club, the Foundation aims to inspire individuals to realise their potential both on and off the football pitch and create
pride in their communities.
Significant progress has been made, with the Foundation building on its existing work, helping 9,000 young people
and vulnerable adults through the range of diverse programmes.
Within the strategy, the Foundation illustrates its four key pillars that underpin the delivery of our provision to the
community, which are..
Community Participation and Indusion
Health and Wellbeing
Education and Employability
Sport and Physical Activity

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Principal activities
Activities and achievement forpublic benefit
Across each of the four key pillars of our provision. a wide-ranging depth of programmes is undertaken on a weekly
basis with meaningful growth and community impact achieved in the last 12 months to the benefit of Ipswich and the
wider Suffolk community. This growth has seen a number of new projects and programmes launched including,
Powerchair Football, DIVERT. Active Blues and LGBTQ+ Football.
A summary of the programmes the Foundation undertakes in the local community are listed below..
Communi
Partici
ation and Inclusion
Our strategic aim within community partiapation and indusion is to 'build healthier, safer and more cohesive
communities, actively encouraging and celebrating equality, diversity and inclusion., Our disability provision has
seen tremendous growth with the launch of Powerchair Football in addition to Adult PAN disability, Youth PAN
disability and Frame Football programmes.
Our disability sessions provide participants with a safe and indusive environment, where sporting and social skills
such as self-esteem and confidence can thrive. We have a fixture programme in place for our adult and youth
disability teams.
Our Refugee Football sessions which are run in partnership with SLrffolk Refugee Support continue to attract very
strong numbers every week. Weekly sessions help refugees in Suffolk feel welcomed by their local football club,
using football as a universal language to improve physical. social and mental wellbeing. We run a session once a
week at Goals Soccer Centre. providing a ￿ntral location for accessibility.
Another new programme we have launched, is LGBTQ+ Football. which provides a safe and inclusive environment
for individuals within the LGBTQ+ community. The sessions are further open to those who are supportive of the
LGBTQ+ community who wish to participate in regular stwctured and enjoyable activities led by a qualified
Foundation coach. The sessions are being delivered in conjunction with the Club's official LGBTQ+ supporters
group, Rainbow Tractors. The weekly session. open to people aged 16 and over of all abilities. wll provide the
opportunity to meet new people and promote good mental health.
The Foundation ran holiday camps during all school holiday periods during 2023124, wth an emphasis on providing
HAF (Holiday Activities and Food Programme) Soccer Schools for children that are in re￿Ipt of free school meals
in Suffolk, including in Ipswich, Stowupland and Becdes.
Weekly participation sessions for children from the age of 3-years-old to 16-years-old take place across Suffolk.
Town Tots and Bluey's Ballers are introductory football sessions for children be￿een 3-6 years. Furthermore,
Player Development Centres are affordable weekly football sessions for children aged 6- 16 years and are open to
all abilities.

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Health and Wellbein
Almost 1 in 4 {23.80A) of Suffolk's population are aged 65 or over, compared to the national average of 18.5 %.
Furthermore, 14.3 % of people aged 65 and over in Suffolk are living on their ovm, which is 1.50h higher than the
national average. Over 130,000 Suffolk residents either sometimes or often feel lonely. The above statistics highlight
why health and wellbeing is a fundamental area of our work here in Suffolk.
Our strategic aim is 'to increase opportunities and ServI￿S available to individuals in Suffolk, in order to improve
individuals, mental and physical wellbeing whilst reducing social isolation., We've seen a strong level of growth in
the health and wellbeing department, focusing on tackling key societsl issues such as social isolation, hypertension
and mental health through the power of Ipswich Town Football Club.
Our Senior Blues session tackles social isolation by providing local residents with a free to attend session at
Portman Road with light refreshments provided. Social circles and mental health have all been noted as improved
through these sessions.
The Golden Days Café supports those living dementia. alongside their carers and those bereaved. The
monthly initiative, which is run in partnership with Ipswich Dementia Action Aliance (IDAA), is hosted in the Hall of
Fame restaurant at Portman Road. In July 2023. the Golden Days Café was expanded to Bury St Edmunds.
Weekly Walking Football sessions at Portman Road have been hugely successful with over 60 participants across
two sessions. Walking Football is a slower paced version of football for those no longer able to participate in
regular football. The sessions also provide a wonderful social opportunity for participants. The Wednesday morning
session is designed for over 60s and a hot beverage is provided after each session to encourage social interactions
and friendships to be fomied.
Mental health continues to be a prevalent issue with all ages in society. Our bi-weekly programme called Talk Club
is a talking and listening framework which helps keep men mentally fit. A bespoke mental health programme for
children experiencing minor to moderate mental health COn￿rnS was also delivered at Portman Road.
Education and Em
abili
Our education and employability programmes aim to 'assist and further the educational attainment and enjoyment of
children and young people in Suffolk through our range of provision. in tum increasing employability and a positive
contribution to society.,
The proportion of young people in Suffolk that are not in education. employment or training is dedining. However.
this is still above the national average. The Post-16 Football and Education programme in partnership with Suffolk
New College, provides boys and girls between the ages of 16-19 years with the opportunity to combine academic
studies at Suffolk New College whilst playing competitive football at the Foundation. Alongside the Suffolk New
College partnership, we also have students at Northgate Sixth Fomi enrolled on our programme.
Our Premier League Primary Stars programme uses the power of Ipswich Town Football Club to inspire, motivate
and engage children to be active and develop important life skills. The programme has been developed and is
managed by the Premier League Charitable Fund, a Premier League funded charity which aims to create positive
and lasting sporting, health and education outcomes for children, young people and the wider community.
Furthermore, our PE and School Sport in local primary schools continues to thrive - we support schools with PPA
delivery and school clubs. Our coaches also work with disengaged groups of children in school settings, by using
the power of the Ipswich Town Football Club badge to inspire and empower.
As of 2023, the crime rate in Ipswich is 43¥0 higher than the East of England and 28% higher than the national
average. In December 2023, the DIVERT programme was launched which actively engages and raises aspirations
of young people aged 13-17 years old that are on the periphery of, or entrenched in, serious youth violence. The
sessions are aimed at reducing reoffending. raising aspirations, enhancing skills and improving employability, with
workshops covering a range of topics from CV writing to knrfe crime and county lines. DIVERT is fvnded by the
Suffolk Police and Crime Commissioner.
Reducing re-offending is a desired outcome of DIVERT. along wth the Twinning Project which is a partnership
th HM Prison and Probation Service and professional football clubs wth the objective of twinning every prison in
England and Wales with a local professional dub. The Foundation currently works wth HMP Hollesley Bay to co-
deliver accredited coaching and employability qualifications to prisoners. with the aim of increasing aspirations and
career prospects after their release.

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
S ortandPh
sical Activi
As set out in the strategy, within the Sport and Physical Activity pillar, the Foundation aims to 'develop lifelong
habits of regular physical activity participation. whilst continuing to provide achievable pathways to excellence.,
A thriving boys and girls development pathvrfay is in place across the region. which offers players the opportunity to
train and develop at weekly centres.
This year, the Foundation took over the Emerging Talent Centre, which is a funded FA programme for girls.
Weekly sessions are held at the Club's training ground at Playford Road. Previously, the Emerging Talent Centre
was run by Ipswich Town Football Club.
Achievements and Performance
It has been another year of significant impact across the Foundation's range of provision. Particular growth within
Community Participation and Indusion and Health and Wellbeing has been noted as a success with the launch of
Powerchair Football, LGBTQ+ Football and the Dementia Café expanding to Bury St Edmunds.
Furthemiore, the Health and Wellbeing department was awarded 'Active Community of the Year, at the annual
Active Suffolk awards. The Frame Football team were awarded runners-up in Team of the Year and Community
Apprentice, Lauren Revill and Disability Coach, Eoin McNamee were both runners-up in the Activity Champion of
the Year.
Mark Pendlington, High Sheriff of Suffolk, presented the Ipswich Town Foundation with the Certificate of Gratitude
and Recognition, an award that shows appreciation for the work being carried out across our diverse provision to
support communities in Suffolk. This award was handed over as part of a visit to Portman Road that saw the High
Sheriff take in one of the Foundation's DIVERT workshops. The programme provides targeted intervention to young
people in Ipswich that are on the periphery of. or entrenched in, serious youth violence.
In October 2023, the Foundation made a significant stride forward by moving OLrt of Portsnan Road to Grafton House
on Russell Road, which is adjacent to Portman Road. The move has been extremely beneficial, providing all
members of staff with a working space befitts'ng their roles.
November 2023 saw the inaugural Fundraising Dinner, which celebrated the impact the Foundation is having in the
local community, with over 200 attendees. Over £30,000 was raised to benefit the local community. Furthermore.
the annual 'Foundation Fixture. vs Middlesborough on 13th April 2024, raised £55,000.
The Foundation hosted its first 'Dream Day,, designed to provide children in difficult circumstances with a day of
exclusive activities, which involved meeting first-team players. Furthemiore, in June 2024, the Foundation hosted
the inaugural Disability Awards at Portman Road which saw over 100 participants receive recognition for their year
with the Foundation - Trustee Conor Chaplin handed out the awards.
Financial review
The financial objective of the Foundation is to operate sustainably, whilst maintaining a surplus and resetves
sufficient to meet fixed overhead requirements. During the year the Foundation delivered a net surplus of £317,965.
(£18,801 deficit for 2023). This surplus is split as a restricted fund deficit of £9,356 12023.. deficit £1,515) and an
unrestricted fund surplus of £327,321 (2023.. £17,286). The year end unrestncted fund balance is £488,320 {2023=
£168,880) and restricted fund balan￿ of £922 {2023= £2.397) The overall held cash reserves remain strong at the
period end with a balan￿ of £382,498, {2023: £300,010).

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Future plans
With the Club securing promotion to the Premier League in May 2024. this will provide the Foundation with
increased funding opportunities to respond to local community need. Therefore, there will be growth next year in
grant funding.
Structure, governance and management
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were=
R Neal
RAdam
M Holland
N Thomas
M Ashton
A Stevens
C Chaplin
P Over
O Magnus
E Edwards
T Ball
R Mackie
(Resigned 16 November 2023)
Ipswich Town Foundation is a company limited by guarantee that has been registered as a charity. Its governing
documents are the Memorandum and Articles of Association dated 20th December 2022. Under the terms of these
Articles of Association the minimum number of Trustees is five and the total number of Trustees shall not be more
than fifteen. Other trustees are appointed by the Board. All trustees are appointed for a fixed term and can be re-
appointed.
Recommendations for trustees are put before the Board for approval and once a recommendation is approved it is
agreed by the Board. The Charitable Company is developing a procedure to ensure that any new trustee..
is aware of his or her responsibilities as a trustee-
has a good understanding of the work of the Charitable Company-
has an understanding of the Charitable Company s strategy for the future., and
is offered ongoing training and infomiation to ensure they are brought up to date with developments in law.
Senior Management remuneration is agreed as part of the annual pay review by the Board of Trustees. Their
decision is based on the recommendation of the Chairperson and on the review of the performance and meeting of
measurable objectives set in the annual appraisal. A periodic review of data sources such as Charity Jobs supports
this decision-making process.
The Director of the Foundation I CEO, Dan Palfrey, oversees the day-ts>day running of the organisation.

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Risk management
The Board review the Charity's risk register on a regular basis. This document is considered by the management
team and trustees in delail once every year. The Board consider that the principal risk facing the Charitable
Company is the failure to secure funding from extemal organisationslbodies for future projects. Any major risks, to
which the Charity is exposed, which include the loss of a major ftjnder as identified by the trustees and
management team, have been reviewed and systems or procedures have been established to manage those risks.
Investment policy
The Charity has no investments. If and when investments are made the trustees will create an appropriate policy.
Public benefit
The Charitable Company confimis that the twstees have complied wth their duty to have due regard to the
guidance on public benefit published by the Charity Commission in exercising their powers or duties.
Reserves policy
The Board of Trustees of Ipswch Town Foundation recognise that an open and honest reporting of the level of the
reserves it holds and its reasons for holding them will reassure donors and the public generally that it is acting
responsibly.
The Board recognises that it is under a general legal duty to apply income fvnds towards the objects of Ipswich
Town Foundation within a reasonable time of receiving them.
The Board will comply with the wshes or requirements of fvnders or donors and, unless they specify otherwise.
treat the funds received as restricted or designated income.
The Board agrees that the target balances held in reserves shall be based on:
forecasts for levels of income in fijture periods. taking into account the reliability of each source of income and
the prospects for opening up new sources-
forecasts for monthly and annual expenditure in future periods on the basis of planned activity,.
its analysis of any future needs, opportunities, contingencies or risks, the effects of which are not likely to be
able to be met out of income, if and when they arise..
The potential impact of a future pandemic or other event, which restricts the ability of the Foundation to operate
it a normal manner-
its assessment, on the best evidence reasonably available. of the likelihood of each of those needs. etc arising
and the potential consequences if Ipswich Town Foundation is not able to meet them.,
6. The impact of the increase in the volume of the Foundations activities, and the associated risk incurred when
increasing the scale of any operation, including its impact on cashflows- and
7. A periodic and detailed review of sources and uses of funds, in order to ensure reserves are being held for the
appropriate reasons, with the reason for holding reserves jointly being to meet liabilities as they fall due and to
ensure sufficient headroom in kept to meet future costs anticipated in at lease a 3-6 month period.
Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to
adopt the going concem basis of accounting in preparing the financial statements.
Fundraising statement
This year, fundraising efforts increased and V￿re instrumental in supporting various initiatives. The Foundation
worked with professional fundraisers Superstars and Matchwomshirt. who both ran silent auctions on behalf of the
charity. The Foundation always had oversight of these events.
Auditor
Ensors Accountants LLP were appointed as auditor to the charitable company and a resolution proposing that they
be re-appointed will be put at a General Meeting.

IPSWICH TOWN FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Disclosure of infomiation to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
The trustees, report was approved by the Board of Trustees.
M Ashton
Trustee
Date:.............................................

IPSWICH TOWN FOUNDATION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2024
The trustees, who are also the directors of Ipswch Town Foundats"on for the purpose of company law, are
responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally A￿epted Accounting Practi￿).
Company Law requires the trustees to prepare finanaal statements for each financial period which give a true and
fair view of the slate of affairs of the charity and of the incoming reSoUr￿S and application of resources, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to=
select suitable accounting policies and then apply them consistently-
obseNe the methods and principles in the Charities SORP;
make judgements and 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 con￿rn basis unless it is inappropriate to presume that the charity
11 continue in operation.
The trustees are responsible for keeping adequate accounting records that 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. 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.

IPSWICH TOWN FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF IPSWICH TOWN FOUNDATION
Opinion
We have audited the financial statements of Ipswich Town Foundation (the 'charity') for the year ended 30 June
2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes
to the financial statements, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming
resources and application of resources, including its income and expenditure. for the year then ended-
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice:
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS IUK)} and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities ft)r the audit of
the financial statements section of our report. We are independent of the charity 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. We believe
that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have conduded 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 perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going
concem 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 wth respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the infomiation included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual
report. 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 fomi 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 kno￿edge 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 detemiine whether this gives rise to a material misstatement in the financial statements themselves. If.
based on the work we have perfomied, we condude 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the trustees, report for the financial year for which the financial statements are
prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the
financial statements., and
the directors, report included within the trustees, report has been prepared in accordance wth applicable legal
requirements.

IPSWICH TOWN FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF IPSWICH TOWN FOUNDATION
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charty and its environment obtained in the course of the
audit, we have not identified material misststements in the directors, report included within the 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, or retums 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. remuneration specified by law are not made" or
we have not received all the infom)ation and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing ihe trustees, report and from the
requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the statement of trustees. responsibilities, the trustees, who are also the directors of the
charity for the purpose 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 intemal 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 charity's ability to
continue as a going concem, disclosing, as applicable, matters related to going concern and using the going
concem basis of accounting unless the trustees either intend to liquidate the charitable company or to Cease
operations, or have no realistic altemative but to do so.
Auditorfs responsibilities for the audit of the financial statements
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 auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
th ISAS (UK} will always detect a material misstatement vthen 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.
The extent to which our procedures are capable of detecting irregularities. induding fraud, is detailed below.
In planning our audit. we identify and assess the risk of material misstatement within the financial statements.
whether due to fraud or error. In assessing the risks, consideration is given to the control environment (including
trustees, and management's own processes for identification and risk assessment) as well as the nature of the
entity, the sector in which it operates and the underlying perfomiance. Consideration is also given to the attitudes
and incentives of management to commit fraud, with specific procedures planned and perfomed to respond to the
risk of inappropriate management override of controls.
We also obtain an understanding of the applicable laws and regulations to which the charity must adhere, through
discussions wth management and those charged wth govemance, as well as commercial knowledge of the sector
and statutory legislation, in order to detemiine the key laws and regulations applicable to the charity.
10-

IPSWICH TOWN FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF IPSWICH TOWN FOUNDATION
After assessing the risk of fraud, we perfomied audit procedures to gain assurance regarding fraud and
management override of controls as follows:
Auditing the risk of management override of controls, induding through testing joumal entries and other
adjustments for appropriateness, and evaluating the rationale behind significant transactions OLrtside the normal
course of business.
Assessment of accounting estimates within the financial statements in order to assess their reasonableness to
determine whether there is any bias in the estimates.
Review of meeting minutes of trustees and management
Enquiring of management and trustees as to whether they are aware of any alleged, suspected or actual fraud
during the period
We also perfom)ed prO￿dureS to satisfy ourselves regarding Complian￿ viith applicable laws and regulations,
including=
Enquiry of trustees and management around actual and potential litigation and claims
Reviewing minutes of meetings of those charged viith govemance
Reviewing correspondence wth relevant legal authorities
Reviewing legal expense accounts for any indicators of litigations
All audit team members were made aware of the applicable laws and regulations. as well as potential fraud risks
during the planning stage of the audit and this was discussed at the audit team planning meeting. It was therefore
determined that team members all had the relevant awareness and Competen￿ to identify any instances of non-
compliance or fraud.
There are, however, inherent limitations to our above audit procedures. Auditing standards only require us to
enquire of the trustees and management regarding non-compliance with laws and regulations, as well as review
regulatory and legal correspondence (if there is any). It is therefore possible that instances of non-¢omplian¢e could
be missed, particularly where the law in itself is far removed from any financial transactions.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https=Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
11

IPSWICH TOWN FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF IPSWICH TOWN FOUNDATION
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 CompaniesAct 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 companls members as a body. for our audit work, for this report. or for the opinions we
have formed.
Helen Rumsey (Senior Statutory Auditor)
for and on behalf of
Ensors Accountants LLP
Chartered Accountants
Statutory Auditor
12-

IPSWICH TOWN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
Unrestricted Restricted
funds
funds
Total Unrestricted Restricted
funds
funds
Total
2024
2024
2024
2023
2023
2023
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Other income
722,654
1,639,865
321,234
177,231
899,885
1,639,865
321,234
1,003,607
1,036,042
37,065 1,040,672
1,036,042
Total income
2,683,753
177,231
2,860,984
2,039,649
37,065 2,076,714
Expenditure on:
Charitable activities
2,395.141
186,587 2.581.728
2,056,935
38,580 2,095,515
Net incomel(expenditure)
288.612
(9,356)
279.256
(17.286)
(1,515)
(18.801)
Transfers between
funds
(7,881)
7,881
Net movement in
funds
280.731
(1,475)
279.256
(17.286)
(1,515)
{18.801)
Reconciliation of funds:
Fund balances at 1 July 2023
168,880
2,397
171,277
186,166
3,912
190,078
Fund balances at 30 June
2024
449,611
922
450.533
168,880
2,397
171,277
The statement of finanaal activities indudes all gains and losses recognised in the year. All income and expenditure
derive from conts-nuing activities.
13-

IPSWICH TOWN FOUNDATION
BALANCE SHEET
AS AT 30 JUNE 2024
2024
2023
Notes
Fixed assets
Tangible assets
11
50,765
48,272
Current assets
Debtors
Cash at bank and in hand
12
371,146
382.498
162,786
300,010
753.644
462,796
Creditors: amounts falling due within
one year
13
(353.876)
1339.791)
Net current assets
399,768
123,005
Total assets less cur￿nt liabilities
450,533
171,277
Income funds
Restricted funds
Unrestricted funds
16
922
449,611
2,397
168,880
450.533
171,277
The financial ststements were approved by the Trustees on .........................
M Ashton
Trustee
Company registration number 09035797
14-

IPSWICH TOWN FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
Notes
Cash flov￿ from operating activities
Cash generated froml(absorbed by)
operations
21
103,716
{26,487)
Investing activities
Purchase of tangible fixed assets
(21,228)
(41,165)
Net cash used in investing activities
(21,228)
{41,165)
Net cash used in financing activities
Net increasel(decrease) in cash and cash
equivalents
82,488
{67,652)
Cash and cash equivalents at beginning of year
300,010
367,662
Cash and cash equivalents at end of year
382.498
300,010
15-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accounting policies
Charity information
Ipswch Town Foundation is a private company limited by guarantee incorporated in England and Wales. The
registered office is Ipswich Town Football Club, Portman Road, Ipswich, IP12DA.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland" ('FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. The
charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions imposed by donors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any perfonnance conditions have been met,
the amounts can be measured reliably. and it is probable that income will be re￿ived.
Grants and donations are recognised when the charity has been notified of the amounts receivable and the
settlement date. If there are conditions attached to the grant or donation that require a level of performance
before entitlement can be obtained, the income is deferred until those conditions are fully met or the fulfilment
of those Conditions is wthin the control of the charity and it is probable that they will be fulfilled.
Income from charitable activities reflects eamings from community and school coaching. Income is received in
exchange for supplying goods and services and is recognised when entitlement has occurred.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation.
Gifts in Kind are included in the statement of financial activilies at a reasonable estimate of their value at the
time they are utilised by the charity, wth an equivalent amount recognised as charitable expenditure. No
amounts are included in the financial ststement for time donated by volunteers.
Other income is recognised in the penod in which it is receivable and to the extent the goods have been
provided or on completion of the service.
16-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Accounting policies
{Continued)
Fundraising income represents monies received from supporters of the charity's fvndraising events and are
recognised at the time of the event.
1.5 Expenditure
Expenditure is recognised On￿ there is a legal or constructive obligation to transfer economic benefits to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of ead) activity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activty are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
Gifts in kind
Expenditure in relation to the charity bome by Ipswich Town Football Club Company Limited has been
attributed and allocated to each expenditure category according to where the gifts in kind were expended and
with the corresponding income benefit being recorded under 'Donations and legacies,. Gifts in kind have been
valued at management's estimate of the cost of an equivalent supply.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the Cost or valuation of assets less their residual values over their
useful lives on the following bases=
Plant and equipment
Computers
Motor vehicles
33% straight line
330kn straight line
200A straight line
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaiment
loss {if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
17-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Accounting policies
{Continued)
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial inslruments are recognised in the charity's balance sheet when the Charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and setue the liability simultsneously.
Basic financial assets
Basic financial assets, which indude debtors and cash and bank balan￿s, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the fvture receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction pri￿ and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the perrod in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide temiination benefits.
1.11 Retirement benefits
Payments to defined contribution rets"rement benefit schemes are charged as an expense as they fall due.
18-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Critical accounting estimates and judgements
In the application of the charity's accounting policies. the trustees are required to make judgements, estimates
and assumptions about the carying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experien￿ and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods vthere the revision affects both current and future
periods.
The following have been identified as being significant judgements and estimates.
Staff costs in gifts in kind
Staff costs included in the gift in kind have been estimated by management based on the number of hours
each staff member dedicates to Ipswich Town Foundation on a weekly basis.
Donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Totsl Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
Gifts in kind
EFL Trust core funding
Other grants
145,861
459,824
35,000
81,969
1,740
147,601
459,824
35,000
257,460
160,608
500,699
35,000
307,300
160,608
500,699
35,000
344,365
175,491
37,065
722.654
177,231
899.885
1,003,607
37,065
1,040,672
Gifts in kind
Gifts in kind Comprise complimentary match tickets and hospitslity, admin support, facilities hire, unifom),
equipment and staff time.
Income from charitable activities
2024
2023
Community and school coaching
1,639,865
1,036,042
19-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Other income
2024
2023
Corporate sponsorships
Junior blues
Matchday experiences
147,907
87,421
85,906
321,234
Expenditure on charitable activities
2024
2023
Direct costs
staff costs
Depreciation and impaimient
Hire of facilities
Kit and equipment
Travel expenses
Other staff costs
Football and education
1.447,826
18,736
257,767
112,096
38,382
4,635
370,951
1,229.998
11,296
183,547
83,931
41,040
9,493
354,867
2,250,393
1,914,172
Share of support and governance costs Isee note 7)
Support
Governan
316,935
14,400
168.203
13.140
2.581,728
2,095.515
Analysis by fund
Unrestricted funds
Restricted funds
2,395,141
186,587
2,056,935
38,580
2,581,728
2,095,515
-20-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Support costs allocated to activities
2024
2023
Printing
Accountancy services
Computer costs
Licences and subscriptions
Bank charges and interest
other costs
Admin support from ITFC
Bad debt expense
Governan￿ costs
10.532
7.735
10.543
2,088
53,104
40,623
160,354
31,956
14,400
3.449
3.893
6.846
12,291
279
16,445
125,000
13,140
331,335
181,343
2024
2023
Governance costs comprise:
Audit and accountancy fees
14,400
13,140
14,400
13,140
Net movement in funds
2024
2023
The net movement in funds is stated after chargingl{crediting)'.
Fees payable to the charity's auditor.
for the audit of the charity's financial statements
for other services
Depreciation of owned tangible fixed assets
11.400
3.000
18,736
10.400
2.740
11,296
Trustees
None of the trustees (or any persons connected with them) received any remuneration, benefits or expenses
from the charity during either period.
10 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Full employees
48
46
21

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
10 Employees
{Continued)
Employment Costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
1,313,760
99,485
34,581
1,136,747
71,774
21,477
1,447,826
1,229,998
The number of employees whose annual remuneration was more than £60,000
is as follows-
2024
Number
2023
Number
£60,001- £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024
2023
Aggregate compensation
131,340
109,765
Key management remuneration indudes total gross pay. employer pension contributions and employers
national insurance contributions.

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
11 Tangible fixed assets
Plant and
equipment
Computers
Motor
vehicles
Total
Cost
At 1 July 2023
Additions
11,882
8,865
12,232
12,363
40,410
64,524
21,228
At 30 June 2024
20,747
24,595
40,410
85.752
Depreciation and impaimient
At 1 July 2023
Depreciation charged in the year
2,113
4,843
4,705
5,810
9,433
8,083
16,251
18,736
At 30 June 2024
6,956
10,515
17,516
34,987
Carrying amount
At 30 June 2024
13,791
14,080
22,894
50,765
At 30 June 2023
9,769
7,527
30,976
48,272
12 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
264,494
106,652
69,536
93,250
371,146
162,786
13 Creditors: amounts falling due within one year
2024
2023
Notes
Other taxation and social security
Deferred income
Trade creditors
Amount due to ITFC
Accruals
95,683
105,004
25,874
81,425
45,890
20,107
118,815
40,452
123,051
37,366
14
353,876
339,791
14 Deferred income
2024
2023
Deferred income
105,004
118,815
-23-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
14 Deferred income
{Continued)
Deferred income is included in the financial statements as follows=
2024
2023
Deferred income is included within..
Current liabilities
105,004
118,815
Movements in the year..
Deferred income at 1 July 2023
Released from previous periods
Resources deferred in the year
118,815
(118.815)
105.004
141,860
{141.860)
118.815
Deferred income at 30 June 2024
105.004
118.815
Deferred income relates to coaching and education income received in advance.
15 Retirement benefit schemes
2024
2023
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
34,581
21,477
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered ￿nd.
-24-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
16 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific ￿nditionS imposed by donors as to how they may be used.
At 1 July 2023
Incoming
resources
Resources
expended
Transfers
At 30 June
2024
Active Suffolk
PL Primary Stars
Business development- laptops
SCC HAF
Skills Booster
Wildcat Funding
FA ETC Funding
Squad Girls
PL Fans Fund
DIVERT Programme
Donations
15.230
35.000
(16.702)
(39.875)
(1,514)
{31,957)
(42,036)
(3,500)
(25,000)
(600)
(12,500)
{10,811)
(2,092)
1.472
4.875
2,397
883
31,919
42,075
3,500
25,000
600
12,500
9,667
1,740
38
39
1,144
352
2,397
177.231
(186.587)
7,881
922
Previous year:
At 1 Juty 2022
Incoming
resources
Resources
expended
Transfers
At 30 June
2023
Active Suffolk
PL Primary Stars
Business development- laptops
SCC HAF
Years of service
Skills Booster
Twnning Project- HMP
1.413
17.500
(1.413)
(17.500)
(1.515)
(8.490)
(892)
(1.270)
(7.500)
3.912
2,397
8.490
892
1.270
7.500
3,912
37,065
38,580
2,397
-25-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
16 Restricted funds
{Continued)
Active Suffolk
Restricted funding for our Senior Blues programme which aims to improve the mental and physical wellbeing
of older people in our community.
Premier League Primary Stars
Restricted funding for Premier League project delivery in local schools increasing attainment in English,
Maths, Physical Activity and Environmental Sustainability among others.
SCC HAF
Restricted funding to deliver holiday camp activities and food to participants in receipt of free school meals.
Skills Booster
Restricted funding as an additional delivery strand of NCS, arranged into 3 modules, each containing 5 or
more lessons around life skills and independent living.
Twinning Project
Restricted funding to deliver equivalent FA Level 1 course to cohorts in HMP Hollesley Bay and HMP Wdrren
Years of Service
Restricted funding to cover wages and on costs for the Foundation to employ a Health and Wellbeing
Activator to be part of the wider Year of Service campaign.
Business Development
The business development grant was to assist with specific business expenses. Induding IT equipment which
has been split out separately.
Wildcat funding
Restricted funding from the FA to put on non-competitive football sessions for girls aged &11 years old.
Squad girls funding
Restricted funding from the FA to put on non-competitive football sessions for girls aged 12-14 years old.
FA ETC (Emerging Talent Centres) Funding
Restricted funding from the Premier League to help create greater access for girls to FA Pathway
programmes.
Premier League Fans Fund
Restricted funding from the Premier League to deliver fan-focused and fan-led projects to create meaningful
engagements through schemes for under-represented groups.
DIVERT Programme
Restricted funding to deliver the DIVERT programme, run in partnership with Suffolk Constabulary, to engage
with and raise aspirations of young people aged 13-17 years old in Ipswich who may be involved with serious
youth violence.
Donations
Other donations given to the Foundation for specified purposes.
-26-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how Ihey may be used.
At 1 July 2023
Incoming
resources
Resources
expended
Transfers
At 30 June
2024
General funds
168,880
2.683.753
(2,395.141)
(7.881)
449,611
P￿VIouS year:
At 1 Juty 2022
Incoming
resources
Resources
expended
Transfers
At 30 June
2023
General funds
186,166
2,039.649
(2,056.935)
168,880
18 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 30 June 2024:
Tangible assets
Current assetsl(liabilities)
49.377
400.234
1.388
(466)
50.765
399.768
449,611
922
450,533
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 30 June 2023:
Tangible assets
Current assetsl{liabilities)
45,875
123,005
2,397
48,272
123,005
168,880
2,397
171,277
-27-

IPSWICH TOWN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
19 Related party transactions
The following amounts were outstanding at the reporting end date:
Amounts owed to related
parties
2024
2023
Ipswich Town Football Club Company Limited
81,425
123,051
81,425
123.051
The charity enjoys a close working relationship with Ipswich Town Football Club Company Ltd.
During the year the charity has benefitted from the provision of support in terms of facilities, staffing, tickets
and administration to the value of £459,824 (2023= £500,699), from Ipswch Town Football Club, with no
payment made by the charity for these goods or seniices. These are reflected in the accounts as a gift in kind
within donations.
In addition to these transactions, purchases of £22,861 were made from Ipswich Town Football Club, and
income of £73,776 was received. There remains a debtor at the year end of £16,172.
20 Members. guarantee
The charitable company has no Sha￿ capital but is limited by guarantee. The members of the charitable
company are guarantors and undertake to contribute to the assets of the charitable company in the event of it
being wound up. such amount as may be required. The members, liability is limited to £10 each.
21 Cash generated from operations
2024
2023
Surplusl{deficit) for the year
279,256
{18,801)
Adjustments for:
Depreciation and impairment of tangible fixed assets
18,736
11,296
Movements in working capital..
(Increase} in debtors
Increase in creditors
(Decrease) in deferred income
1208,361)
27,896
(13,811)
(118.918)
122,981
{23,045)
Cash generated froml{absorbed by) operations
103,716
{26,487)
22 Analysis of changes in net debt
The charity had no debt in the period.
-28-