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← Ipswich Town Foundation

2025-06-30-accounts

Charity registration number 1157548 (England and Wales) Company registration number 09035797 IPSWICH TOWN FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

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OWN FOUNDATION

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t auditor's report

Statement of financial activities

Balance sheet

Statement of cash flows

Notes to the financial statements

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and financial statements for the year ended 30 June 2025.

Th ncial statements have been prepared in accordance with the accounting policies set out in note 1 to the fin | statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting an orting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in ac nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (ef e 1 January 2019).

Ob ves and activities Ips Town Foundation is the official charity of lpswich Town Football Club. The charity’s governing document, the me dum and articles of association sets out its purposes for the benefit of the inhabitants of the town of Ips the county of Suffolk and surrounding areas through the charitable objectives.

Th ritable Company’s objects are for the benefit of the public generally and in particular the inhabitants of Su ounding areas and are:

and assist in promoting community participation in healthy recreation; nd assist in the education (on a social and physical basis) of children attending schools within the surrounding area through the use of the game of football and other sports activities as | tools; e and assist in advancing the education of children and young people attending schools in the surrounding area by the provision of lectures, classes, and activities for the benefit of such d young people and by the provision of educational materials for distribution to such children people. social inclusion for the public benefit by preventing people from becoming socially excluded ces such as unemployment; financial hardship; youth or old age; ill health (physical or mental), e needs of these people who are socially excluded and assisting them to integrate into society; or assist in providing facilities for recreation and other leisure time occupation in the interests of are and with the object of improving the conditions of life for those whom the facilities are resource for young people in Suffolk and the surrounding area by providing advice, assistance sing programmes of physical, educational and other activities as a means of: (a) advancing in Iping young people by developing their skills, capacities and capabilities to enable them to in society as independent, mature and responsible individuals, and (b) advancing education; any other purpose, which is charitable according to English law.

Ips ndation — 5-year strategy (2023-2028) Ips dation is two years into its ‘Presence with Purpose’ strategy which aims to build an empowered, ins ve community to be proud of. By using the presence, power and reach of Ipswich Town Football Clu n aims to inspire individuals to realise their potential both on and off the football pitch and create pri nities.

Sig has been made, with the Foundation building on its existing work, helping 9,000 young people an ts through the range of diverse programmes. Wi e strategy, the Foundation illustrates its four key pillars that underpin the delivery of our provision to the co ity, which are:

Community Participation and Inclusion Health and Wellbeing Education and Employability Sport and Physical Activity

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Principal activities

Activities and achievement for public 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 Ilpswich and the wider Suffolk community. This growth has seen a number of new projects and programmes launched including, our oral health programme, SHINE and our Empower community hub in an in-need area of Ipswich.

Asummary of the programmes the Foundation undertakes in the local community are listed below:

~~Community Participation and Inclusion~~

Our strategic aim within community participation and inclusion 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. The Foundation had funding approved for Premier League Kicks, which is a youth engagement programme, which provides free-to-access football and sport sessions in the community. The programme works in partnership with the Police, to ensure young people have positive diversionary activity, to steer them away from anti-social behaviour, whilst also keeping young people physically active. Sessions launched at Portman Road, Ipswich Academy, Westbourne Academy, Chantry Academy and Murrayside Community Centre. A new initiative launched, is the Foundation Dream Day, which sees young people and families who have found themselves in exceptionally challenging circumstances welcomed to Portman Road for once in a lifetime opportunities and activities, including arts and crafts, games consoles, and a tour of the stadium. Each Dream Day sees a selection of Town’s first-team players and staff involved, with Kieran McKenna, Conor Chaplin, Leif Davis and more all involved over the past 12 months. Our disability sessions provide participants with a safe and inclusive 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 Suffolk 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 central location for accessibility.

We have begun running coffee mornings and breakfast events for our veterans community in partnership with Combat2Coffee. These events provide a safe and welcoming environment for veterans and their families to come together, meet like-minded people, and support one another.

The Foundation ran holiday camps during all school holiday periods during 2024/25, with an emphasis on providing HAF (Holiday Activities and Food Programme) Soccer Schools for children that are in receipt of free school meals in Suffolk, including in lpswich, Bury St Edmunds, Felixstowe, Stowupland and Beccles.

~~Health and Wellbeing~~

During this year, we have launched an oral health programme, SHINE, which sees us deliver a six-week oral health programme in primary schools in areas of high-need in Ipswich. Oral health is a prevalent issue in young people across the UK, with 30,587 teeth extracted in children due to decay in 2023-2024, over 10% of those in the East of England. SHINE is supported by the Premier League Foundation and Professional Footballers Association, as well as Suffolk & North East Essex Integrated Care Board.

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TOWN FOUNDATION

S' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) YEAR ENDED 30 JUNE 2025

4 (23.8%) of Suffolk’s population are aged 65 or over, compared to the national average of 18.5%. 14.3% of people aged 65 and over in Suffolk are living on their own, which is 1.5% higher than the age. Over 130,000 Suffolk residents either sometimes or often feel lonely. The above statistics highlight nd wellbeing is a fundamental area of our work here in Suffolk.

aim is ‘to increase opportunities and services available to individuals in Suffolk, in order to improve ental and physical wellbeing whilst reducing social isolation.’ We’ve seen a strong level of growth in d wellbeing department, focusing on tackling key societal issues such as social isolation, hypertension ealth through the power of Ipswich Town Football Club. Blues session tackles social isolation by providing local residents with a free to attend session at d with light refreshments provided. Social circles and mental health have all been noted as improved sessions.

Days Café supports those living with dementia, alongside their carers and those bereaved. The tive, which is run in partnership with lpswich Dementia Action Alliance (IDAA), is hosted in the Hall of rant at Portman Road. In July 2023, the Golden Days Café was expanded to Bury St Edmunds. ing Football sessions at Portman Road have been hugely successful with over 60 participants across . Walking Football is a slower paced version of football for those no longer able to participate in all. The sessions also provide a wonderful social opportunity for participants. The Wednesday morning signed for over 60s and a hot beverage is provided after each session to encourage social interactions hips to be formed. We have expanded our Walking Football provision to a female only session, which gely popular

Ith continues to be a prevalent issue with all ages in society. Our bi-weekly programme called Talk Club and listening framework which helps keep men mentally fit. A bespoke mental health programme for eriencing minor to moderate mental health concerns was also delivered at Portman Road. d funding to deliver a programme in Care Homes in Ipswich, called Active Care Homes, this saw the engage with five different care homes, promoting light physical activity and social connection amongst

~~and Employability~~

on and employability programmes aim to ‘assist and further the educational attainment and enjoyment of young people in Suffolk through our range of provision, in turn increasing employability and a positive to society.’

ramme is our Talking Tactics programme, which is designed to increase access to NHS Child and Mental Health Services, help tackle waiting times and reduce health inequalities by providing 1-2-1 upport for young people aged 11-21 years with mild-moderate mental health. Sessions support young g a goals-based approach with the aim of reducing health and social inequalities.

tion of young people in Suffolk that are not in education, employment or training is declining. However, bove the national average. The Post-16 Football and Education programme in partnership with Suffolk e, provides boys and girls between the ages of 16-19 years with the opportunity to combine academic Suffolk New College with playing competitive football at the Foundation. Alongside the Suffolk New College partnership, we also have students at Northgate Sixth Form 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.

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

We continued our work on the DIVERT programme 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 knife crime and county lines. DIVERT is funded by the Suffolk Police and Crime Commissioner. In May, we received increased funding to run DIVERT sessions in primary schools, which are aimed at children in year 5 and year 6, focusing on an earlier intervention.

~~Sport and Physical Activity~~

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 pathway is in place across Suffolk and the surrounding areas, which offers players the opportunity to train and develop at weekly centres.

The Foundation continues to run the Emerging Talent Centre, which is an FA funded programme for girls. Our Performance Squads were introduced for the 2024-25 season, which is our top tier of girls football within our pathway — this includes U14 and U16 teams, who have received player visits from members of the Women’s team.

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 between 3-6 years. Furthermore, Player Development Centres are affordable weekly football sessions for children aged 6-16 years and are open to all abilities.

The Foundation operates a ‘hardship fund’ for parents that are experiencing financial hardship, which removes cost as a barrier to participation, which is absolutely critical to the way we operate. Last year, over £5,000 was distributed to families to contribute towards participation fees.

Achievements and Performance

With our affiliated club achieving promotion to the Premier League for the first time in over 20 years, this provided a buzz around the town and county, which the Foundation felt the benefits from, with increased interest in our programmes. Furthermore, this unlocked grant funding that has allowed the charity to deliver innovative programmes that meet local needs in our community. Over the past year, Ipswich Town Foundation has continued to grow its impact across Suffolk, delivering a range of programmes that support participation, inclusion and community engagement. A major highlight has been the successful launch of the new Premier League Kicks programme, which has engaged more than 800 unique participants throughout the year. The programme has provided safe, structured activities for young people and has been further strengthened through the introduction of our younger DIVERT sessions in primary schools. This earlier intervention approach has produced particularly strong outcomes, allowing us to engage with children at a younger age and provide positive pathways through sport and education.

Fundraising has also been a significant success. In November, our annual fundraising dinner raised more than £34,000 to support the Foundation’s work across the community. This was followed by our Foundation Fixture against Wolves in April 2025, which generated over £50,000, demonstrating the continued generosity and support of the club’s fanbase and partners.

Inclusion remains at the heart of everything we do. In June 2025, we hosted our annual Disability Awards, celebrating the achievements of participants across our disability provision. Earlier in the year, our inaugural Disability Christmas Party brought participants, families and staff together to celebrate the inclusive environment the foundation strives to create. March 2025 also saw a Royal Visit from Prince Richard, Duke of Gloucester, which provided a fantastic opportunity to showcase the breadth, diversity and impact of our work across all generations.

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

In June 2025, we strengthened our football provision through a new partnership with St Joseph’s College, enabling 40 hours of weekly delivery on a brand-new state-of-the-art 3G pitch. The same month also saw the return of our Play on the Pitch event at Portman Road, offering participants from across our programmes the unforgettable experience of taking part in activities on the stadium pitch. The Foundation’s Safeguarding team made significant progress in embedding best practice across all delivery areas, particularly new programmes such as SHINE. Through proactive case management, regular staff training and robust policy implementation, we were able to provide a safe and supportive environment for all participants and staff. Financial review

The financial objective of the Foundation is to operate sustainably, whilst maintaining a surplus and reserves sufficient to meet fixed overhead requirements. During the year the Foundation delivered a net surplus of £91,576, (2024: £279,256 surplus). This surplus is split as a restricted fund surplus of £29,347(2024: deficit £1,475) and an unrestricted fund surplus of £62,229 (2024: £280,731). The year end unrestricted fund balance is £511,840 (2024: £449,611) and restricted fund balance of £30,269 (2024: £922). The overall held cash reserves remain strong at the period end with a balance of £516,316 (2024: £382,498).

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

R Adam

n Foundation is a company limited by guarantee that has been registered as a charity. Its governing re the Memorandum and Articles of Association dated 20th December 2022. Under the terms of these ssociation the minimum number of Trustees is five and the total number of Trustees shall not be more Other trustees are appointed by the Board. All trustees are appointed for a fixed term and can be re-

ations for trustees are put before the Board for approval and once a recommendation is approved it is e Board. The Charitable Company is developing a procedure to ensure that any new trustee: ware of his or her responsibilities as a trustee; a good understanding of the work of the Charitable Company; an understanding of the Charitable Company’s strategy for the future; and ffered ongoing training and information to ensure they are brought up to date with developments in law.

agement remuneration is agreed as part of the annual pay review by the Board of Trustees. Their ased on the recommendation of the Chairperson and on the review of the performance and meeting of objectives set in the annual appraisal. A periodic review of data sources such as Charity Jobs supports -making process.

of the Foundation / CEO, Dan Palfrey, oversees the day-to-day running of the organisation.

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Risk management The Board are in the process of producing a risk register. Once established, the Board will review the register on a regular basis, and it will be considered in detail by management and trustees once every year. The Board consider ipal risk facing the Charitable Company is the failure to secure funding from external organisations/ re projects. Any major risks, to which the Charity is exposed, which include the loss of a major funder y the trustees and management team, have been reviewed and systems or procedures have been manage those risks. olicy as no investments. If and when investments are made the trustees will create an appropriate policy. it le Company confirms that the trustees have complied with their duty to have due regard to the ublic benefit published by the Charity Commission in exercising their powers or duties. licy Trustees of Ipswich Town Foundation recognise that an open and honest reporting of the level of the Ids and its reasons for holding them will reassure donors and the public generally that it is acting

cognises that it is under a general legal duty to apply income funds towards the objects of Ipswich tion within a reasonable time of receiving them. ill comply with the wishes or requirements of funders or donors and, unless they specify otherwise, s received as restricted or designated income.

rees that the target balances held in reserves shall be based on:

for levels of income in future periods, taking into account the reliability of each source of income and ects for opening up new sources; for monthly and annual expenditure in future periods on the basis of planned activity; is of any future needs, opportunities, contingencies or risks, the effects of which are not likely to be met out of income, if and when they arise; tial impact of a future pandemic or other event, which restricts the ability of the Foundation to operate in a normal manner; Its assessment, on the best evidence reasonably available, of the likelinood of each of those needs, etc arising and the potential consequences if lpswich Town Foundation is not able to meet them; The impact of the increase in the volume of the Foundation's activities, and the associated risk incurred when sing the scale of any operation, including its impact on cashflows; and iodic and detailed review of sources and uses of funds, in order to ensure reserves are being held for the priate reasons, with the reason for holding reserves jointly being to meet liabilities as they fall due and to e sufficient headroom is kept to meet future costs anticipated in at least a 3-6 month period. ncern e of approving the financial statements, the trustees have a reasonable expectation that the charity has resources to continue in operational existence for the foreseeable future. Thus the trustees continue to going concern basis of accounting in preparing the financial statements. ing statement , fundraising efforts increased and were instrumental in supporting various initiatives. The Foundation ith professional fundraisers Superstars and MatchWornShirt, who both ran silent auctions on behalf of the e Foundation always had oversight of these events.

ptember 2025, our auditors, Ensors Accountants LLP, merged with Azets Audit Services Limited. ly, Ensors Accountants LLP formally resigned as the company's auditors with the trustees duly appointing dit Services Limited, trading as Ensors, to fill the vacancy arising. In accordance with the company's resolution proposing that the auditor, Azets Audit Services Limited, trading as Ensors, be reappointed will a General Meeting.

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IPSWICH TOWN FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

E YEAR ENDED 30 JUNE 2025

re of information to auditor

the trustees has confirmed that there is no information of which they are aware which is relevant to the t of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to uch relevant information and to establish that the auditor is aware of such information.

ees' report was approved by the Board of Trustees.

Tos

026

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IPSWICH TOWN FOUNDATION

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2025

The trustees, who are also the directors of Ipswich Town Foundation 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 Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources 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:

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.

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CH TOWN FOUNDATION

NDENT AUDITOR'S REPORT MEMBERS OF IPSWICH TOWN FOUNDATION

udited the financial statements of Ipswich Town Foundation (the ‘charity’) for the year ended 30 June comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes cial statements, including significant accounting policies. The financial reporting framework that has been their preparation is applicable law and United Kingdom Accounting Standards, including Financial Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United enerally Accepted Accounting Practice).

ion, the financial statements: a true and fair view of the state of the charitable company's affairs as at 30 June 2025 and of its incoming rces and application of resources, including its income and expenditure, for the year then ended; been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

been prepared in accordance with the requirements of the Companies Act 2006.

s pinion e cted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable . sponsibilities under those standards are further described in the Auditor's responsibilities for the audit of al statements section of our report. We are independent of the charity in accordance with the ethical u ts that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical an and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe t dit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. n ns relating to going concern a the financial statements, we have concluded that the trustees' use of the going concern basis of co in the preparation of the financial statements is appropriate.

sed on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described relevant sections of this report.

in the

Other information e other information comprises the information included in the annual report other than the financial statements d our auditor's report thereon. The trustees are responsible for the other information contained within the annual ort. Our opinion on the financial statements does not cover the other information and, except to the extent erwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our ponsibility is to read the other information and, in doing so, consider whether the other information is materially (e) inancial statements or our knowledge obtained in the course of the audit, or otherwise appears b tated. If we identify such material inconsistencies or apparent material misstatements, we are u whether this gives rise to a material misstatement in the financial statements themselves. If, se e have performed, we conclude that there is a material misstatement of this other information, a ort that fact.

e port in this regard.

in atters prescribed by the Companies Act 2006 ou on the work undertaken in the course of our audit: given in the trustees' report for the financial year for which the financial statements are includes the directors' report prepared for the purposes of company law, is consistent with the ents; and port included within the trustees’ report has been prepared in accordance with applicable legal

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SWICH TOWN FOUNDATION

DEPENDENT AUDITOR'S REPORT (CONTINUED) THE MEMBERS OF IPSWICH TOWN FOUNDATION

tters on which we are required to report by exception the light of the knowledge and understanding of the charity and its environment obtained in the course of the dit, we have not identified material misstatements in the directors' report included within the trustees' report.

e have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or

we have not received all the information 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 the trustees' report and from the requirement to prepare a strategic report.

sponsibilities of trustees explained more fully in the statement of trustees’ responsibilities, the trustees, who are also the directors of the arity for the purpose of company law, are responsible for the preparation of the financial statements and for being tisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to able the preparation of financial statements that are free from material misstatement, whether due to fraud or or. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to ntinue as a going concern, disclosing, as applicable, matters related to going concern and using the going ncern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease erations, or have no realistic alternative but to do so.

ditor's responsibilities for the audit of the financial statements ives are to obtain reasonable assurance about whether the financial statements as a whole are free from isstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. le assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or re considered material if, individually or in the aggregate, they could reasonably be expected to influence ic decisions of users taken on the basis of these financial statements.

escription of our responsibilities is available on the Financial Reporting Council’s website at: https:// g.uk/auditorsresponsibilities. This description forms part of our auditor's report.

to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

g our audit, we identify and assess the risk of material misstatement within the financial statements, ue to fraud or error. In assessing the risks, consideration is given to the control environment (including nd management's own processes for identification and risk assessment) as well as the nature of the sector in which it operates and the underlying performance. Consideration is also given to the attitudes ives of management to commit fraud, with specific procedures planned and performed to respond to the propriate management override of controls.

btain an understanding of the applicable laws and regulations to which the charity must adhere, through s with management and those charged with governance, as well as commercial knowledge of the sector ry legislation, in order to determine the key laws and regulations applicable to the charity.

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IPSWICH TOWN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF IPSWICH TOWN FOUNDATION

After assessing the risk of fraud, we performed audit procedures to gain assurance regarding fraud and management override of controls as follows: - Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the rationale behind significant transactions outside the normal course of business.

We also performed procedures to satisfy ourselves regarding compliance with applicable laws and regulations, including:

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-compliance could be missed, particularly where the law in itself is far removed from any financial transactions.

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IPSWICH TOWN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF IPSWICH TOWN FOUNDATION

ur report rt is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 mpanies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s those matters we are required to state to them in an auditor’s report and for no other purpose. To the tent permitted by law, we do not accept or assume responsibility to anyone other than the charitable and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we ed.

msey (Senior Statutory Auditor) n behalf of 30 April 2026

d Accountants y Auditor

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WICH TOWN FOUNDATION

ES TO THE FINANCIAL STATEMENTS (CONTINUED) THE YEAR ENDED 30 JUNE 2025

Accounting policies Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other sh investments with original maturities of three months or less, and bank overdrafts. Bank overdra within borrowings in current liabilities.

Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ a ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity become contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stat 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 settle the liability simultaneously.

Basic financial assets Basic financial assets, which include debtors and cash and bank balances, 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 at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. cial liabilities ial liabilities, including creditors and bank loans are initially recognised at transaction price unless ment constitutes a financing transaction, where the debt instrument is measured at the present future payments discounted at a market rate of interest. Financial liabilities classified as payable ear are not amortised.

ents are subsequently carried at amortised cost, using the effective interest rate method. ors are obligations to pay for goods or services that have been acquired in the ordinary course of rom suppliers. Amounts payable are classified as current liabilities if payment is due within one . If not, they are presented as non-current liabilities. Trade creditors are recognised initially at price and subsequently measured at amortised cost using the effective interest method.

ion of financial liabilities bilities are derecognised when the charity’s contractual obligations expire or are discharged or 1.11 enefits any unused holiday entitlement is recognised in the period in which the employee’s services are benefits are recognised immediately as an expense when the charity is demonstrably committed the employment of an employee or to provide termination benefits. 1.12 benefits defined contribution retirement benefit schemes are charged as an expense as they fall due.

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