Registered number: 09152373 Charlty number: 1159381 COLCHESTER UNITED COMMUNITY FOUNDATION (Formerly Colchester United FC Football in the Community) (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
COLCHÈSTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guaranlee) CONTENTS Pages Reference and A¢mlnistrativè Details of thè Company and its Trustees Trustee$. Report Indepertdent Examlner's Report Statement of Financial Actlvllles Balan¢t Sheet 10 Statement of Cash Flows 11 Notes to the FlnancFal Statements 12-26
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY AND ITS TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 TrusteeslDirectors Robert Cowling Hayley Bannister (appointed 16 November 20241 Timoihy Waddington (resigned 24 March 2024) Richard Hunt (appointed 1 October 2024) David Murthwaite (appointed 1 October 2024) Linda Gaine Anne Turrell Dmitri Frederick Halajko (resigned I September 2024) Company regi$tered number 09152373 Charity reglstered number 1159381 Registered offlce PO Box C05 OLX JobseNe Community Stadium Unlled Way, Mile En¢ Colchester Essex C04 SUP Company secretsry Helen Haworth Webslte www.cu-fc,¢omlfit¢ Independent Examiner Scrutton Bland Limited Chartered Accountants Fitzroy House Crown Street Ipswich Suffolk IP13LG Page 1
COLCHESTER UNITED COMMUNITY FOUNDATION IA Coinpany LimAted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JLINE 2024 The Trustees present their annual report together with the financial statements ot Colchester United Community FourKlation {the "Charitable Company" or the "Ch8rtV') for the year ended 30 June 2024. The Annual Report seNes the pUoseS of both a Trustees. report and a Direclors. report under company law. The Trustees confirm that the Annual Report and financial statements of the Charitable Company compty with the current statutory requirements, the requirements of the Charitable Company's governing documenl and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republtc of Ireland (FRS 102) and the Companies Act Since the Charitable Company qualifies as small under set140n 382 of the Companies Act 2006, the Strategic Report required of medium and large companies 4mder the ConwanRs Act 2006 {Strategic Report and Directors, Report) Regulations 2013 has been omitted. The information on page I lorms part ol the Trustees, ReporL Oblectives and activltles a. Policies and objectives The piinupal object ot the Charltable Company ts to pro4ryOe community parttcipation in healthy recreation by providin9 progfammes for the playing of association f£tba and other sports capable of improvin9 health. During the year when planning ihe a¢tivib'es of the Charity, the Twstees have read aftd paid due regard to the Charty Commission'5 guidan on public benefil in accordance with sects'on 17 of the Charities Acl 2011. b. M•tn activitle$ undertaken to lurther the Company's purpose$ for the publlc benefit The Chafity provides high quality sports and educalion programmes to children. young people and adulls from across the local region. The Charity positions itself lo provide its programmes to people of all ages. Aehievements and performance a. Key perfomance indicators The surplus generated for the financial year is £67,876 (2023.. £66.605)- The reserves held at the end of this financial year are £725,062 (2023.. £657 186), of which1£147 136112023., £56,745) ale reslri¢ted. Pa9e 2
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 Achlevements and performance (contlnued} b, Revlew of actlvitles We are delighted to report that 2023.24 financial year has seen our hlghest ever revenue generaled, number of participates and delivery hours engaged in our provision. Thls is huge credit to the skills and expertise of our staff, volunleers and Irustees who are encouragin9 more people than ever before to improve Iheir lives through sport. health, and educalion. We are now uniquely pl8Ged to tackle some of the key issues that our community is facing, alongside combating bioader societal challenges, and supporting local arid nalional agendas. Through the engagement of over 9,5000 individuals on average each week, we positively impact our community by providing opportunities for people to become the best version of themselves. Ongoing partnership development is key to our strategy and together we will inspire, enrich, and vnite our communities. Adopting our "Enrich our communities" strategy and upgrading our approach for the times we are in, and the fulvre we want to build is crucial. We believe sport and physical activity has a huge role to play in improving physical and menlal health for all, supporting Ihe economy, reconnecting communities, and building a slronger society for all. This will be possible by our comprehensive governance and innovative leadership ID place to support our workforce as we diversify and expand our offer again. We believe that through our key stfategic priorities we wlll maximise all aspects of our partlcipant's journey and in lurn our programmes will grow, but also ensure that an individual's journey feels and looks further enricheo. We are always thère for our community bul more importantly, we have been there for our communilles thal need us most. Moving forwards: we will ensure we continue to make a difference whether that is to indivlduals, groups or Ihe ¢ornrnunity- The support of many partner organisalions has enabled us to be successful In eslablishing our programmes al the heart of the communlties whilst addressing mental health. physical health, loneliness, and isolation In our community. I hope you find our Chariles Commission report provides a clear insight into Colche8ter Uniled Communily Foundation financial position. We are proud of the work we undertake and achievements. and look foNard to ensuring another year of development, manageable growth and success ahead In 2025. Revlew of financial PDsltlon a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation Ihat the Company ha$ adequate resources to meet its liabilities as they fall due and to continue in operational existence for the foreseeable future. being al least 12 months from the dale of approval of these financial stalemenls. For this reason. they continue to adopt Ihe going concem basis in preparin9 the financial slalements. P8ge 3
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guaranlee) TRUSTEE5' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 b. Reserves pollcy The InCaSe in our restricted funds deficit Irom previous fi'nancial years relates to inCaSed prolecl expenditure, as these projects are ongoing, and further revenue is expected in the months and years ahead We are forecasting that these will neutralise and become break even by tbe end of this financial year. It is the policy of the Charity lo maintain unrestricted funds, which are free reserves of the Charity, at a level which equates to approximately six months unrestricted expenditure to prolect against a decline or interruption of future sources of income. Si¥ months being deemed suitable to enable the activities of the Charity in respect of fvnding allocalions, continuity in provision of service and iesponsibilities to staff to be fulfi15ed. The Trustees review the level of reserves of Ihe Charlty in contexl with Ihe current economic climale to ensure sufficienl reserves are mainlained to fulfill the Charitvs activities on an ongoing basis, Page 4
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDEO 30 JUNE 2024 Stfucture, governance and management a. Constltutlon The Company is registered as a Charitable Company Ilmited by guarantee. The Company is constituted under a Memorandum of Associalion dated 29 July 2014 and is a reglslered charity, number 1159381. The principal obiecl of the Charity Is to promote community participation in hEalthy recreation by providing facilities for Ihe playing of association football and other sports Capable of improving health. b. Methods of appolntment or election of Trustees The management of the Charity 1$ the responsibility of the Trustees who are elected and co.opled under the temis of the Trust deed. ¢. Pollcles adopted for the inductlon and tralning of Truslees New Trustees undergo three months, induction. During this lime the new Trustee receives inslruclion on their obligations under charity and company law, the Charity Commission guidance on public benefits, governance obligations, the committee and decision making processes, the business plan and recenl flnancial performances of the Charity. During induclion the new Trustee will attend approprlate external training events where these will facilitate Ihe undertaking of their role alongside an inductlon checkllst and introduction pack. d, Risk management The Charity relains a Risk Management Policy where all changes are brought to the attention of Ihe Trustees, and dependenl on severity, action plans implemented to address the risk. This policy is reviewed on an 8nnual basis at a board meeting. Plans for future periods To ensure the Charity continues to enrich the lives of the people within our communities through high quality, engaging and inspiring sporting provisions. Specifically to improve, grow and add to existlng programmes. Page 5
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Statement of Trustees. responsibllltles The Trustees (who are also Ihe Directors of the Company for the purposes of company law} are responsible for preparin9 the Trustees, Report and Ihe financial statements in ac¢ordan¢e with applicable law and Unlled Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the TrLJstees must not approve the financial statements unless they are satisfied thal they give a true and fair view of the state of affairs of the Chanty and of its incoming resources aniy application of resources, including its income and expendilure, for thal period. In preparing these financial siatements. the Trustees are requlred to: select suitable ac¢ounling policies and then apply them consislently,, observe the methods and principles of the Charities SORP <FRS 102)., make judgments and accounting estimates that are reasonatsle and prudent; State whether appli¢able UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained ID the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume Ihat the Charity wtll continue in business. The Trustees ?re respongible fof keeping adequate accounling records that are sufficient to show and explain Ihe Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable Ihem lo ensure that the financial slalemenls Comply wilh Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the Charity 8nd hence for taking reasonable steps for the prevention and detection of fraud and other ir", egularities. Approved by order of the members of the Board of Trustees on l% Itlf and si9ned on their behalt ljy: Mr R A Cowllng Trustee Page 6
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limlted by Guarantee INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024 Independent Examlnerfs Report to the Trustees of Colchester Unlted Communlty Foundatlon (Ihe 'Charlty') I report to the charity Trustees on my examination of the accounts of the Company for Ihe year ended 30 June 2024. Rèsponsibllltles and 8asls of Report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in ac¢ord8nce with the requirements of the Companies Acl 2006 ('Ihe 2006 Act,). Having satisfied myself thal the ac¢ounts of the Company are not fequired lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in spect of my examination of the Company's accounts carried out under section 145 01 the Charities AGt 2011 ('the 2011 Act,). In carrying Out my examination I have followed the Directions given by the Charity Commission under section 145{5}(b) of Ihe 2011 Act. Independenl Examlnerfs Statement Slnce the Companys gross Income exceeded £250,000 your examiner must be a member of a body listed in seclion 145 of the 2011 AGt, I confirm that l am qualified lo undertake the examination because l am a member of (enter body bere). which is one of Ihe lj'sted bodies. I h8ve completed my examination. I confirm thal no matters have come lo my attention In connection wilh the examination giving me cause to believe". accounting records were not kept in respe¢l of the Company as required by section 386 of the 2006 Acl: Dr the a¢counts do not accord wilh those records., DT the accounts do not comply wilh the accounling requirements of section 396 of the 2006 Act other than any requirement that Ihe accounts give a 'true and fairf view which is not a matter considered as part of an independenl examination.. or the accounts have not been prepared in accordance with the methods and principles of Ihe Statement of Recommended Practlce for accounting and ieporling by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}. Page 7
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmited by Guaranloe) INDEPENDENT EXAMINER'S REPORT ICONTINUED) FOR THE YEAR ENOED 30 JUNE 2024 I have no concems an(J have come across no other matters in connectn with the examinallon lo which attenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. sed. Dated: 11 l(SiS John PÈry FCA ScrLitttyI Bl8nO Limited Chartered AccoLtntants Fttzroy House Crown Street Ipswich Suffolk IPI 3LG Page 8
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmlted by Guarantee STATEMENT OF FINANCIAL ACTIVITIES <IN¢QRPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Notes Income from.. Donalions and legacies Charitable activities InvestmeDts 73,878 625,795 14,167 73,878 910,509 14,167 42,017 866,487 284,714 Total lrtcome 713,840 284,714 998,554 9Q8,504 Expendlture on: Charilable activilles 385,919 544.759 930,678 841,899 Tolal expendlture 385,919 544,759 930.678 841,899 Net Sncomel(Èxpenditurtl Transfers betvieen funds 327,921 (56,164) 1260,045) 56,164 67,876 66,605 15 Net movpment In funds 271.757 1203,8811 67,876 $6,605 Reconclllatlon of funds., Tolal funds broughl fomard Net movemenl in funds 600,441 271,757 56,745 (203,881) 657,186 67,876 590,581 66,605 Total funds Carrleo forward 872,198 1147,136) 725,062 657,186 The notes an pages 12 to 26 fom part of these financi81 statements. Page 9
CQLCHESTER UNITED ¢OMMUNITY FOUNDATION IA Company Limited by Guarantee) REGISTERED NUMBER: 09152373 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Fixed assels Tangible assels Investmenls 244.754 164,943 12 244,755 164,944 Currnnt assets Debtors Cash at bank and in hand 13 34,291 608,473 22,866 550,344 642,764 573.210 Credit(xs: amounts falling due within one year 14 (162,457) (80,968) Net current assels Total assets less current Ilabilities being nel assets 480,307 492,242 725.062 657.186 Charlty funds Restricted funds Unrestricled funds 15 15 {147,136} 872,198 56,745 600.441 Total funds 725.062 657,186 The Company was entitled to exemplion from audit under seclicn 477 of the Companies Act 2006 and the members have nol required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Truslees acknowledge their respon5ibililies for complying with the requirements of the Act with respect to accounting records and preparalion of financial statements. The financial sl8lements have been piepare(J in a¢¢ordanGe with Ihe provisions applicable to entities subject to the small companies re9ime. The financial slaleme re appr and aulhorised for issue by the Trustees on IE YWK(KItsIS and signed on their behall by.. Mr R A Cowling <Truslee) The notes on pages 12 10 26 form part of Ihese financial slalements Page 10
COLCHESTER UNITED COMMUNITY FOUNDATIQN (A Company Llmlted by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notes Cash flows from operating actlvitles Net $h generated from operating activities 18 196,048 20,883 Cash flows from Invesllng actlvlties Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets 700 {98,034} (137,920) Net ¢ash (used ln) by invesling aclivitles {137,9201 (97,334) Change In cash and cash èqulvalents In the year Cash and cash equivalenls at the beginnin9 of the year 58,128 176,4511 626,796 550,¥45 Cash and cash equiyalents at the end of the year 19 608,473 550,345 The notes on pages 12 to 26 form part of these financial stalements Page11
COLCHESTER UNITED COMMUNITY FQUNDATION (A Company Llmited by Guaraniee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General informalion The Chariiy is a company limited by guarantee. The members of the Company are the Trustees named on page l. In the event of the Company being wound up, the liability in respect of the guarantee is limlled to £10 per member of the Company. Accounting policles 2.1 Basls of Pfeparatlon of financlel statements The financial slatements have been prepared in a¢¢ordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. Colchester United Community Foundalion meets the definition of a public benefit entity under FRS 102. Assets and liabllities are initially recognised at historical cost or transaction value unless otheise stated in the relevanl accounling policy. 2.2 Going concem After making appropriate enquiries. the Truslees have a reasonable expectalion Ihal the Company has adequate resources to meet its liabilities as they fall due and to continue in operational existence for the foreseeable fulure. being at least 12 months from the date of approv81 of these financial statemenls. The Trustees also confim that at the time of approving the financial statements. there are no material uncertainlies regarding the Charit$ ability to contlnue in operational existence for the foteseeable future. Accofdingly, these financial statemer¢ts are prepared on the going concern basis. 2.3 Income All income is recognised Once the Charity has entillemenl to the income, It Is probable that Ihe income will be received and the amount of income receivable can be measured reliably. 2A Expenditure Expenditure is recogni5ed Oft there is a legal or Gonstructive obligation lo transfer economic benefit to 8 third party, it is probable thal a transfer of economic benefits iNill be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct cosls and shared costs. including supporl costs involved in undertaking each aclivity. Direct costs attribulable lo a single activity are allocaled directly to that aclivity. Shared costs which contribute lo more than one activity and support cosis which are nol attributable lo a single activity are apportioned between those activities Dn a basis consistent with the use of resources. Central slaff costs are allocaled on the basis of lime spent, and deprecialion charges allocated on the portion of the asset's use. Charitable aclivilies and Governance costs are costs incurred on Ihe Charity's educational operations, including support cosls and costs relaling to the governance of the Charity apportioned lo charitable aclivities. All expenditure is inclusive of irrecoverable VAT. Page 12
COLCHESTER UNITED COMMUNITY FOUNDATIQN IA Company Limlled by Guaranlee} NOTES TO THE FINAtrICIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 AGcounting poll¢lEs (contlnued) 2.5 Interest re¢elvabl• Interesl on funds held on deposit is included when receivable and the amount can be measured reliably by the Comp8ny', thls is normally upon notification of the interest paid or payable by the Institution with whom the funds are deposited. 2.6 Taxatlan The Chaflty is considered to pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company lor UK corporation lax purposes. Accordingly, the Charity is potentially exempt from laxation in respect of income or capitsl gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 2.7 Tangible flxed a$sets and depreclatlon Tangible fixed assets costing £500 or more are capitalised and recognised when fufvre economic benefits are probable and Ihe cost or value of the asset can be measured Teliably. Tangible fixed assets a intlially reco9nised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated deprecialion and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condilion should be included In the measurement of cost. Depreclatlon is charged so as lo allocate the cost of tangible fixed assets less their residual value oveT their estlmated useful lives on the following bases: Leasehold Improvements Equlpment Motor vehicles 20°/0 Straight line 100/0 10 330/0 slraight line 20°A slraighl line 2,8 Investment Inveslment in subsidiary is slated al cost less provision for impairment. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discouni offered. Prepaymenls are v8lued at the amount prep8id nei of any trade discovnls due. 2.10 Cash at bank and In hand Cosh al bank and in hand includes cash and short-term highly liquid investments with a short maturity of Ihree months or less from the dale of acquisition Qr opening Df the deposit or similar accounl. Page 13
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llrnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A¢countlng ppllcies (¢onllnued) 2.11 Liabllitles and provi$lon$ Liabilities are recognised when there is an obligation at the Balance Sheel date as a result of 3 pasl event, it is probable thal a transfer of economic benefi't will be required in settlement, and the amounl of the selllement can be estimated reliably. Liabilities are recognised at the arnounl that the Charily anticipates il will pay to settle the debi or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured ai the besf estimate of the amounts required to settle Ihe obligation, Where the effect of the time value of money 1$ material. the provision is based on Ihe present value of those amounts, discounled al Ihe pre-tax discount rate that reflects the risks specific to the liability, The unwinding of the discount is recognised wilhin interest payable and similar charges. 2.12 Financlal Instruments The Charlly only has financial assets and financial liabilities of a kind that quallfy as basic linaiicial tnstruments. Basic financial instruments are initially ¥ecognised at transaction value and subsequently measured at Iheir setlkment value. 2.13 Penslons Colchester United Football Club Limited, a company related by Common control, operates a defined contribution pension scheme and the pension charge represents the amount$ payable by Colchester United Football Club LIlled. to the fund in respect of the year, 2.14 Fund aGcounling General funds are unre$tricled funds which are available for use at the discretion of Ihe Truslees in furtheranLe of Ihe general objectives of the Charlty and which have not been designaled for other purposes. Reslriclecl funds are funds which are to be used in accordance wilh specific restricticns impDsed by donors or which have been raised by the Charlly for particular purposes. The costs of raislng and administerlng such funds are charged against Ihe specific fund. Investment incorne. gains and losses are allocaled lo the appropriate fund. Page 14
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmlted by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Incomè from donations and legacles Unteslricted funds 2024 Total funds 2024 Total funds 2023 Gift aid Government granls 24,128 49,750 24,128 49,750 42,017 73,878 73,878 42,017 Total 2Q23 42,017 42.017 Incom¢ from charitable actlvltles Unrestricted Restrl¢ted funds funds 2024 2024 Total funds 2024 Total funds 2023 Education Sports Participation Health and Inclusion Other 198,280 274,183 92,541 60,791 198,280 381,968 269,470 60,791 183,711 353,095 319,937 9,744 107,785 176,929 625.795 284,714 910,509 866.487 Total 2023 514,405 352.082 866,487 Investment income Unrestricted funds 2024 Total funds 2024 Tolal funds 2023 Interest ieceivable 14,167 14,167 Pago 15
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysls of expendllure by acti¥ltlp$ Activities undertaken dlrectly 2024 Supptsrt Costs 2024 Total funds 2024 Total funds 2023 Education Sports PgrtiGipation Health and Inclusion Other 71.009 275,255 322,198 21.771 43,352 90.679 69,705 36,709 114,361 365,934 391,903 58.480 97,107 344,87Q 373,151 26,771 690,233 240,445 930,678 841,899 Tolal 2023 678,758 163.141 841,899 Analysls of support costs 2024 2023 Professional fees Communicatiors expenses Vehicle expenses Managemenl charges Other supp¢rt costs 8,148 1,814 42,305 27,000 161.178 8,551 1,581 44,745 13,500 94.764 240,445 163,141 Net Incomel(expenditurel 2024 2023 Deprecialion of tangible fixed assels: owned by the Chafily Fees payable to the Independent ExaTniner in respect of: Independenl examinalion of the Charitls annual report 58,109 38.197 2,900 2,600 Page 16
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension scheme 441,629 58,559 48,668 445,828 60,715 50,502 548.856 557.045 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. 43 None of the employees received remuneration amounting to more than £60,000 in either the current or prior year. Key management remuneralion paid in the year consisted of remuneration amounting to È61,166 (2023". £58,666) and pension contrlbulions of £1,431 (2023.. £1,316). The Trustees received no remuneration for their qu31ifying services lo the Charlty in either the current or prior year. 10. Trustees, remuneratlon and expenses During the year, none of the Twslees received any remuneration or other benefits {20.23 . £NIL). During the year ended 30 June 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 17
COLCHESTER UNITED COMMUNITY FOVNDATION (A Company Limlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Tangible flxed assets Leasehold improvemen ts Motor vehicles Equipment Total Cost At 1 July 2023 Additions 7,134 47,187 19,391 14,897 210,496 75,836 237,021 137,920 At 30 June 2024 54,321 34,288 286.332 374,941 Depreciation Al 1 July 2023 Charge for the year 6,658 5,539 18,678 2,766 46,742 49,804 72,078 58,109 At 30 June 2024 12,197 21,444 96,546 130.187 Net book value AI 30 June 2024 42,124 12,844 189,786 244.754 AI 30 June 2023 476 713 163,754 164,943 12. Fixed asset investments Investments subsidiary companles Cost or valuation At 1 July 2023 At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 Page 18
COLCHE5TER UNITED COMMUNITY FOUNDATION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. Fixed asset Investments (Gontlnued) Princlpal subsldiary AI 30 June 2024, the Charity bad the following subsidiary undertaking: Name Registered office or princlpal Prlnclpal activlty placé of buslness Class of shares Colchester United Conimunlty Trading Limited Jobsetve Community Stadium United Way Mile End Col¢hester Essex C04 SUP Sports activities Ordinary These financial statements have not been consolidated with the tesults of the Charitls OllY owned subsidiary undertaking as the Group is small. Therefore these financial statemenls presenl the results of the Charily and not of ils Group. 13. Debtors 2024 2023 Due withln one year Trade (Jebtors Amounts owed lo subsidiary undertaking Prepayments and accrued income 5.796 8,464 20,031 11,228 11,638 34,291 22,866 The amoLJnts owed by tbe subsidiary undertaking are inlerest free and repayable on demand. Page 19
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. CredStors.' Amounls falllng due wlthln one year 2024 2023 Trade creditors Arnounts owed to subsidiary undertaking Amounts owed lo related parties Accruals and deferred in¢orDe 10,725 15,914 18,048 7,771 39,235 29,091 122,641 162,457 80.968 The amounts owed to the subsidiary undertaking and related parties are interest free and repayable on demand. Page 20
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 15. Statement of funds Statement of fvnds w current year Balance at 30 June 2024 Balance at 1 July 2023 Transfers Inloul Income Expenditure Unreslrlcted funds General Funds - all funds 600,441 713,840 (385,919} 156,164) 872,198 Restricted funds He81th & Inclusion Sports P?rticipation 64,812 18,067> 176,929 107,785 1417.27Q) (127,489> 56,164 1119,365} (27,771) 56,745 284,714 (544,759) 56,164 (147.136) Total of funds 657,186 998,554 (930,678) 725,062 Page 21
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 15. Statement of funds (contlnued) Statement tsf funds - prlor year Balance ai 30 June 2023 Balance al 1 July 2022 Income Expenditu Unrestrlcted funds General Funds- all funds 319,046 556,422 (27S,0271 600,441 Reslrl¢tÈd funds Health & Inclusion Sports Participalion 247,929 23,606 205,773 146,309 (388,890) (177,982) 64,812 18,0671 271,535 352,082 (566,872) 56,745 Total of funds 590,581 908,504 1841,899) 657,186 Page 22
COLCHESTER UNITED COMMUNITY FOUNOATION (A Company Limlted by Guarahfee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 15. statement of funds (continued) The Heallh and Inclusion restricted funds are for Ihe following initiatives: The Premier League Primary Stars Programme represenls inccme awarded for Ihe purposes of delivering activities to primary schools focusing on the core values of the Premier League Primary Slars Programme. All sessions are offereLI lo upskill teachers, provide en9aging sessions for participants and to increase participalion in sport. The Premier League Girls fund represents income awarded for the purposes of increasing participation for females within the communlty. Sesstons delivered in schools and at commuriity hub to support the en9agement of 11 + females in sport. The Premier League Kicks fund represents income awarded for the purpose of providing sports sessions in largeted areas to increase participants, decrease levels of anti-social behaviour and improve levels of community cohesion. As well as increasing physical activity, this project works towards key outcomes Includin9 volunleering and qualifications. The United Againsl Knife Crime fund represents income awarded for a community safely programme engaging young ¢hildrÈn around the d8ngers of knife crime. The Joy of Moving fund represen15 income awarded lo promole healthy eating and lifestyle choices in a programme delivered in primary schools. The EFL InfrastractUTe fund represents income awarded for the purpose ol improving the facilities to assist the Charily in delivering ils obleclives. The BSBT fund represents income awarded for the purpose of challenging extremism in the commLJnity. The BBC Children in Need grant fund is for supporting chlldren aged under 18 who suffer wilh disabilities and Ihis project is funded by Children in Need. The NCS fund Is a project for School year 11 and 12 studenls and provides them with residentlal expefience. social actions projects and life skills. Thp project is funded by Ihe NCS Trust. The Youth Investment Award fund was received in March 2022 to support the Cha¥ity's services and offering io yoiing people. The fund has enabled the Charity to improve its infrastruclure and offering io children and families that il serves. The Sports and Participation Fund relates lo the Aclive Essex Holiday Clubs which is to support working families throughout the school holidays. P8ge 23
COLCHESTER UNITED COMMUNITY FOUNDATION IA Company Limlt•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 16. Analysis of net assets between funds Analysis of net assets between funds - current perlod Unrestricted Restrlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Trade investments Current assets Creditors due within one year Difference 244,754 244,754 642,764 (16,407} (146.050) 1,086 (1,086) 642,764 (162,4571 Total 872,198 {147,136) 72S,062 Analysis of net assets between funds - prlor period Unreslri¢led funds 2023 Restricted funds 2023 Totsl funds 2023 Tangible fixed assets Fixed asset inveslments Current assets Creditors due within one year 164,943 164,943 516,465 (80,968) 56,745 573,210 (80,968) Total 600,441 56,745 657,186 Page 24
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 17. Related party transactions Al the year end, the Charity owed Colchesler United Football Club Limited, a company related by common control, an amount of £2,835 {2023: £6,099). During the year, the Charity incurred management charges from Colchester United Football Club Limiled amounting to £27,000 {2023'. £13,500). During the year, the Charity incurred recharges including slaff costs from Colchester United Football Club Limited amounting to £548,856 (2023.. £564,025). At the year end. the Charity owed Colchester United Hospitality Limited. company related by common control, an amount of £256 (2023: £7831. Al the year end, the Charity owed Aspire Projects Limited, a company relaled by common control, an amount of £86 (2023.. £297). At the year end, the Charity owed Jobserve Sports & Social Club, a charity related by Common control. an amount of £7,46612023: £591). At the year end, the Charity owed Colchesler Unitèd FC FITC Trading Limited, the subsidiary undertaking, an amount of £Nil (2023; £18,048}. During the year, the Charity received a gift aid donation from Col¢hester United FC FITC Trading Limlted amounting to £73,878 (2023: £42,017) in respect of tradlng profits gifted to the Charily. 18. Reconclllatlon of net movement In funds to net cash flow from operatlng activities 2024 2023 Net income for Ihe period (as per Statement of Financial Activities) 67,876 66,605 Adjustments for: Depreciation charges Loss on the sale of fixed assets Increase in debtors 58,109 38,197 2,096 (12,554) 173,4611 (20,676) 81,489 Increasel{decrease} in credilors Net cash generated by operatlng activities 186,798 20.883 Page 25
COLCHESTER UNITED COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 19. Analysis of cash and Gash equlvalents 2024 2023 Cash at bank and in hand 608,473 550,345 Total cash and cash equlvalents 608,473 550,345 20. Analysls of changes in net debt At 1 July 2023 Cash flows At 30 June 2024 Cash at bank and in han¢ 550,344 58,129 608,473 21. Controllln9 party The Charity is controlled by the Board of Trustees. Page 26
COL¢HESTEP UNITED f ¢ COMMUNITY FOUNDATION Reqistwed Chaiily Numbei 1159381 Colchester United Communit Foundation Charities Commission Re ort Jul 2023- June 2024 We are delighted to report that 2023.24 financial year has seen our highest ever revenue generated, number of participates and delivery hours engaged in our provision. This is huge credit to the skills and expertise of our staff, volunteers and trustees who are encouraging more people than ever before to improve their lives through sport, health, and education. We are now uniquely placed to tackle some of the key issues that our community is facing, alongside combating broader societal challenges, and supporting local and national agendas. Through the engagement of over 9.5)0 individuals on average each week, we positively impact our community by providing opportunities for people to become the best version of themselves. On8oing partnership development is key to our strategy and together we will inspire, enrich, and unite our communities. Adopting our"Enrich our communities" strategy and upgrading our approach for the times we are in, and the future we want to build is crucial. We believe sport and physical activity has a huge role to play in improving physical and mental health for all, supporting the economy, reconnecting communities, and building a stronger society for all. This will be possible by our comprehensive governance and innovative leadership in place to support our workforce as we diversify and expand our offer again. We believe that through our key strategic priorities we will maximise all aspects of our participanvsjourney and in turn our programmes will grow, but also ensu that an individual's journey feels and looks further enriched. We are always there for our community but more importantly, we have been there for our communities that need us most. Moving forwards, we will ensure we continue to make a difference whether that is to individuals, groups or the community. The support of many partnerorganisations has enabled usto be successful in establishing our programmes at the heart of the communities whilst addressing mental health, physical health. loneliness, and isolation in our community. I hope you find our Charites Commission report provides a clear insight into Colchester United Community Foundation financial position. We are proud of the work we undertake and achievements, and look forward to ensuring another year of development, manageable growth and success ahead in 2025. Corin Haines CEO TO INSPIRE, ENRICH AND UNITE OUR COMMUNITIES www.cu-fc.com/cucf cucf@colchesterunited.net 01206 755160 O @ColU_CF O /ColU_CF
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Shrub End Conimunity & Sport Centre, Boadicea Way, Colchester, E55ex, C02 9BG