Cotnwany rcgistraiion numb¢r.' 09408894 Charity r¢gistration number: 1161401 Port Vale Football Club Foundation (A company limited by guarantee) Annual Report and financial StatenKnls for th¢ Y¢ar End¢d 31 Augu 2024
Port Vale Football Club Founéatlon Contents Reference and Administtative Details Trnstees, Report 2to8 Statement of Truslcc8' Rcsponsibiliti¢s Independent Examiner's Report Ioio 11 Statement of Financial Activities 12 Balance Sheet 13 Siaiemenl of Cash Flows 14 Noles lo the Financial Stsi¢inenls 15to27
Port V&le Football Club Foundatlon Reference and Administrative Details Trustces Ms Racl)el B¢ck¢tt Mr Matthew James Parker Mr Simon Peter Whitehouse Ms Keely Dawn Brown Ms Julie Sadler-ll'iiglit Ms Carol Ann Sh]ahan Mr Andrew James Taylor Ms Clair¢ Lou&s¢ Halkcl Mr Andrew Richard lJiirge8S Mr Matthew John l.lanLoLk Mr Mi¢ha¥l Jones Mr Ikrgm Hussain Senlor Management l Leodershlp Will TLirner TtAm ChArlty ReglstrAilon Number 161401 Compin}' Regl8trAtlon Number 09408894 Thc cliarity is incorporal¢d in England & Wales. Pori Vnle Foundalion 14amil Roud Stok¥wOii-Trent ST6 IAW Reg191ered Offlce Prlnelpal Offlet Vale Park Hamil Rolld Stok¢-On-Trent Stsffordshire ST6 IAW Tndep¢nd¢nt Examlnor Alextra Group Limit¢d 7-9 Mtteon Court Crewe Chcshire CWI 6EA Page I
Port Vale Football Club Foundydtion Trustees, Report The ttLs, wlio are directors for tli¢ purposes of company law. prescnt th¥ annual report together with ¢l)e finaiicial slarements of the Charitable compuny for the year ended 31 Augusi 2024. The filn¢la1 st8tein¢nts have b¢¢n pwpar¢d in #¢¢ordanc¢ ivith thc accoynling policics set oul in note 2 to the ranCIal stalements and comply with the charity's Mcmorandum and .QTticles of Asso¢iJtion, Ihe Companies Act 2006 and 'Accowiting and Reporting by Charities.. Statemen¢ of Re¢0Metled PiaLtice applfftcable to charities preparii)g their aLcounls in accordance 'ith the Financial Reporting S18nd8rd applicable in the UK and Republi¢ of Ireland (FRS 102), (¢ffectiv¢ l January 2019)- objtc1lv 4nd 4Ltlvltles 'fh¢ Charity's objccts are restiictcd to the following charitsble purposc5 for 1he benefit of Ihe public g¢nerJlly. both in thc Umiied Kingdom and overseas. and mosl especially the inhobiton15 01- Stok¢-on-I'renl und Statlordshire with particular locus on ih¢ ar¢a around Bursl¢m and ih¢ ST6 poslLodc area: Pagc 2
Port Vale Football Club Founqlrdtlon Trustees, Report l. To incrcase levels of pnrticipation in sporl and physical ociivity by providing a core offer of opportunilies lor hildren> young people and adults. 2. To increase the level of aspiration and attainment by developing the essential life skills of people aLross Stoke-on-Trent and Staffordshire. Providing access to Positii-e lean)ing environments. traiiiing. and employinenl. 3. To r¢duce health incqualities by proinottng o bTolldeT undcrsÈai)ding of ho, to lii'e a healthier. happier lifestyle, providing aclivilies and suprA)rt Ihal loslers improved lile choices. 4. TLJ create opportunhties for positive soLial ¢han8e, by brin8ing people together and being ai the hLart of gr'Ing and diversL communities. providin&T a menu of nced8 led support to those who r¢quir¢ it most. S. To utilise the poiv¥Y and brand of Port Vale Football Club lo help to inspire people Ihrougb ille&nin8ful experiences and Lonnections to Port Vale Football Club and its assets incliiding facilities, players, staff. malchdays and events. 6. For the general purposes of such chdrilie5 or lor such other Lharitsblc pwpose5 under ikn¢ laws England and Wules in eULI) Cdse a8 the TnJstL¢s may trom lim¢ to tim¢ d¢¢id¢. Pmblle beAefli The foundation carries oul ils obj¢ctives by pro¥'idin8 a wid¢ T8n¥e ofprojects and inililllive8 pIAnned lo cover the key areas of sport & physical Jctsvityl educatioty health and wellbeing and cojmllunily engag¢ll)¢nt. These areas of actiN-ities have been identified as key in iising the poiver of football lo m8k¢ a difference, inspire beliefs and change ¢ultur¢s. The boundation works closely with Ihe Englis]i Football League 'ftust and Premier Leaglie Charitsble fund to ensurc Iliai oclivilies and projects continue gnd r¢¢eives lunding Irom the Inglish Football Lea8u¢ Trnsl ond Premier LL'ague Charitabl¢ AcliviliLs Fund for ils core aclii'ities. Th¢ Inistecs contirm that ihey have complied with tli¢ Irquiremenls of section 17 ot. thc Charities Act 2011 to have due regard lo Illo piibli¢ bcnefit guidanLe publishcd by Ihe Cliariiy Commission fol. F.iigl¥nd and Walls. Use of volmiiteer The F(Trundation continues to utilise volui)leers in a range of settings. supw)rting the ¢xecution of the progmmm¢s, which deliver our our¢omes. W¢ provide work placement opportunities across our programme8 to school students, interns and college stt]dents. Paqe 3
Port Vale Football Club Foundation Trustees, Report A¢hievements and performAnee This y¢Ar h4iS se¢n continued a period of growth and development. Th¢ yfar the first trne 12 month period of op¢raiing under rhe new governallce structure following a year whereby th¢ y¢ar end was extended to aligD better with significaiit funding partners and the school year. During the year to August 2024, we delivered significant regults again8t 0r key obi¢ctives and for the fust time delivered oiir first illdependent impact Report. delivered by an extemal organisation EVLD Impact. This w99 released in line with our yeor end al celebrated at Port Vale Foundolioll Awards Evening 2024. Th¢ board overnance and operation has taken a sig]iificant Step forward this year, Iviih tsub groups being effective. fully opmlional and reporting into ihe full board ¢onsistenily. Sub groups for Pei)ple and Policyy chaired by Trustee Malt Parkcr and Finaiice & Risk, ehaircd by Andy Burgess have providcd confidenc¢ ond ¢onsislen¢y in our govcrnancc op¢rotion, In the year lo Aiigubl 2024. we have also apwii)ted two new (nlee$ specifically fUsing on Equlllity* Diversity and Inclusion. 'fhis ha5 .4hown our cominilincnl to EDI us a board and has ¢n8bled a slrongcr b(md and conn¢clion wilh the Port V8le FC for EDI relaied aclivily. Full staff away days in September 2023 and JAniry 2024 were delivered to support on goiiig staff and volunt¢¢r dev¢lopin¢nt. These included full staff briefingb, delivering slrdtegic Incssag¢s and Co[eCting differcni dcpartments togeiher. ID addition, we have rctained specifiL Idrgeled senior managllen1 days and the oppominity for beiier connection between ytalTand owqtees. Complihnce against Premier League Charilable Fund CCOP audit has progressed well. We hav¢ achieved a sLore of 81 % by August 2024, whiLh iy con%idercd vcry 00d. Our next 8ini Is 1¢) work ¢oivard6 exemplary as Ibe EfL and PLcf are evolvillg ¢h¢ir compli]¢¢ slundards witli CCOP 3.0. 'I'he Foundalion ond Cliib relationship is u ¢oniiniiing suceess factor. the iindcrsionding across Ilie wholc Club and Foundaiion lias evolved lor thL beiier and il is evidcnl of a joinLd up 8pproa¢h. Playcr ¢n&¢mentS have rown und bcen niore impuLLful. to illLludc ALudL'my SLliolars. 'rhe work iiwi Pon Vole Foundaiion docy is underpinncd by a Iconi ofdedicaicd slalT. voltsntcers &nd Irusl¢c$. 'I'l)e wpport and ¢XrE1sC thcy oljer conlinues lo cxpand ¢hc dcptli ol. work. cr¢ating clearer and mor¢ deflned iinpact lo make a la51ing diff¢ren¢e in Siokwn-Tr¢nt and Siaffordshire. Pag¢ 4
Port V8le Football Club Foundatlon Trustees, Report Flnancial review The results for th¢ yeftr are shown in the Stafrment of Financial Actii'ities. In¢omTng resources for Ihe year lotalled £923,458 (2023: £1,169.798) consistiJ]g of unre5tri¢led income of £$46.395 (?021: £742.278) and restrict income of £377,063 (2023.. £427.520). Expenditure for the ye8r was £1,045,05012023.. £1.140.130) with unrestricted reserves totalling £?2,712 (?023.' £9.3.518) and restrict¢d rIdS £nil (2023.. £50,7116) at.11 Augus¢ 2024. The Balance Slieet shows tha¢ at 31 Augu.qt 2024 toial r¢servcs were £22,712 (202.1.. £144,-104) The losses wer¢ a result of previous level of understanding on the linancial op¢ration. Ai Ihe beginning of September 202.3. we were qtill tran8iLionin8 from the old financial syslerns lo the new ones aiid didii't haiic a.s clear undcrstllnding th¢ financiol Piclure us we do now. Tliis meant thnl the grlmls und associnlcd sta1n8 was un¢l¢ar kukd w¥ retained Ilitt mdjortty of il)e worklorLe. wliere Iliere was a th'i)p oll. in gran1¥. Ilrdl we now know. We have liud a yLar of development in this current finoncial year, nL'w 8ybtL'rnS haye been put in place and the live picture 18 more posilive, with finance now being a key priority for the Itusiee8 and focusing on organisational health. In addition, Ihe financial governance and N'_developmcnl diiring the year I8 been documente(I tlirougli board ineelii)gs und tli¢ Fin4n¢e and Risk Sub Comrnillee. Donations in the previuu5 year were significant ai)d allowed rhe loss for Iliis year to be ¢ov¢r¢d by the iyseives in plaLe. In Rddition, the financial govemftn¢e and re-development during the yeAr has been documented throiigh board mLetin&$ And the FintLn¢e and Risk Sub Coinmittce. Pollcy ON ru¢rveJ ThL' Trustees Iwv¢ cxaminod the Foundation's re4uiirmeni for reserves in light of IhL main risks to the organisution and the possible r¢du¢tion in fuThJin& 11 hus estoblished a policy whcreby the iinre8tTi¢lcd fttnds not cornmttted 01 invcsled in tfjngiblc fixed a51els hcld by Ihc ¢harily should bc bciwe¢n 3 and (> InondL8 of the cxpeiiditurc. The ¢urrcnL level ol re$er¥es ig shoivn on the Balanc¢ ShL¢I. Tl)e rcserve$ arc rcqilired to meet working capital requirement8 iiicluding lh¢ salary ¢omniitmenl8 of the Foun4J#tion und thi TThitLes are ¢onfidLnl ti)at al Iht's l¢v¢l Ih¢y would bc able lo continu¢ the currcnl aclivilics in ih¢ ei'eni ot a signifiuant di'op in funding and ihe Trustees will endeavtsur lo inLrease reserves aLLL)rdingly. Page 5
Port Vale Football Club Fovndatifyn Trustees, Report Pl#ns for future periods From September 2024 through the next financial year, we have maDy exciting plans ahead for Port Vale Foundation. Thri'c will bc the continued itrivc for cxcellcnce in governancc. finan¢¢. partnersliips. d¢livcry ld Ihc club relationsliip. In addition. w¢ will hav¢ an exciting n¢w evolution of our 5tTUCture as we Ivork towdrds a strdt¢gi¢ r¢vtcw. We will be amending the strn¢tyre to align better with Port Vale FC. wtth the view to creating a Community and CSR Director rol¢, supported by a neiv position of Head of Foundatioii and r&working the Sport & Physical A¢ti%'ily Ma]Rager rolc to be a Head of Coinmunity fooiball, Ivhich will Iransilion Women and Girls, player pathways and paid football provision away trom th¢ Foundation's core work. We ivill continue to deliver our key Strat$ of ivork, Ivhilst undertaking R strdt¢gi¢ revi¢iv b¢ginnin8 ivith a work81iop at our firsi board Ine¢ling in the new financial year, in November 2024. Onc olour most signifi¢anl areas of dcvclopment wiihin our futurc pla4 is our facility stock. We ar¢ exploring the dcvelopineiii of Bradcley Football Developincnt Ccntre. a new Ploy£onc and leading the delivery or community focused "cainpus" at the h¢ort ol. Burlsem. providin¥ inspiring and innovaiive spaces lor people froin the lo¢al communily to engage in. Strncture. govern4ne¢ ind n78nagement Port Val¢ Football Club Fouiidation is o charithble compally limited by guarfjnt¢¢. incorpornted on 27 j11111ry 2015 and registered as a Foundaiion on 23 April 2015. The company was esiablished under a Memorandum of A550ciaiion and is govemLxd undL'r its Arti¢l¢s of AqsoL'ialion. Tn the cvent of Ihe ¢ompany being wound lip mLmbLrs ure r¥quired to Lvntribute ai) amvunt not exCdIng £1 U. The Irustee8, ivho are direcior8 for the purpose of Lompany laiv and Tru5tee8 for the purpohe of charitable laiv, who served durin8 thc pci'iod and up to thc dute of si¥natyr¢ of the finllnLLal statemen15 were.. Trusl¢¥s.' Ms Rachel Beckett Mr Motihew Jaincs Parker (opJ)oint¢d I Seplcinber 2023) Mr Siinon Peter Whilehou Ms Keely Dawn Brown Ms Julie Sadler-wright (appointed I Seplember 2023) Ms C#rol Ann Shallahan Mr Andrew James Taylor Ms Claire Louis¢ Halkel Mr Andrew Richard Bur¥ess {8PPOlftted I Scplcmb¢r *023) Mr MatthL'W John HanLock Mr Mi¢ha¢l JonL'S (appointed 31 May 2024) Mr Ikram Hu55ain (appointcd 31 May 2024) Page 6
Port Vale Football Club Fovndatiom Trustees, Report Structure) governance And m4nn%ement ReLruilMent oiid appoinlmenl ofiru.slee.f Each Ttee sholl retir¢ froni oftiLe at the conclusion of the third Annual Trnstve Meeting following his or her most r¢¢¢nt appointment or reappoiniment biit. subject to Article 24.4 in the Memorandum shall then be eligible for reappointment. A TnJ5tee who has ser¥ed for six years consecutively or more must take a break from offiLe and may not be reappointed until the ¢arlier of.. l) The amiiversary of thc eomin¢n¢¢inent of his OT her break fiDm offi¢¢,' and 2) 'fhe Annual 'l'rnslec MeetinbJ lollowing th¢ Annual Trnslee Mecting al which his or her break from Olee commenced; The oppoinlimenl rules do not apply to Covopled truslecs os sel out ift Arti¢l¢ 25 of lh¢ Memornndurn UDd Articles ol'Association. The names ofihe present TTUSt¢es are sd oul in iiyis report. Port Vllle Footbo11 c.lub will hold 3 ex-oITico trustee roles of (he Club Owner and Two Dii'eclors. N¢w TNslees are supplied with the Charity Comnussion publication, The E55enli81 Trustee.. Wh41 Yoii Need to Know,, along witli tli¢ Men)ornndum and ArtlLles and ih¢ 14lest finanLial statement5 ongoing ad ho¢ trninin8. A full day induction 18 provided with the Head of Community tor Trew trusle¢s. orynrt1.IlOKfj1 slrncliire During ihc previous financial year, significant chiinge toDk plac¢ following a review of our pr(>gress and current position. Thi8 Icad io ll changL of Icadership Ri)d th¥ appoiiilnicni of a new l.ILAd of Cornniuniry, Will Turncr. The Board ofTrustees 8re now working iviih Will via our newly forn)¢d Pcople Sul>Commi(leC to eiisuTL Ihal he is supported fjnd Ih4t the relevant workforce 8trn¢ture 1$ in plaL¢ lo Ii¢lp aLliieve our aim5 and objL%tives. Po8¢ 7
Port Vale FootbY411 Club Foundation Trustees, Report Other matters Risk maii4geMenl The Board of TTuslees is aware of ihe required procedures involi'ed in the recruitmellt of staff prior to employment. Strict procedures are necessary when working with children under the age of sixtr¢n y¢ors and adults over this agc ivho are deemed vulnernble adults. Prior lo rtcruittnent ot- ststl ¢heck include DBS checks. veriti¢ation ofqualific2tions and an interview process. The Trustees are involi'¢d in these procedures ivhere deemed appropriate. In additiOIJ PTOLedures are in place to ensure compliance with heulth and safcry rcglilations by all ytuff. Th¢ procedures and lorniats are periodi¢ally reviewed and asbesbed lo ensure ikni 11)¢y continue to meet Ihe needy of the Foundation to liiltil its responsibilities. Crltlc41 ae¢ountlng esilmatts Ind &reAs of Judgement Estimar¢s and judgLmLnts al'e continually evaluat¢d and dre basLYI on a number of factors in¢ludin8 expectations of fure ei¥'ents thal Rr¢ believed to be reasonable under the ¢iwumslances. Independent examlners Alextra Group Limited werc appointed os Inde¢¢ Examiners by ihe cbtsrily. The annual report was &pproY¢d by the trustees of the charity on .2&.k.ts1.2Sand signed on its behalf by: Mr Andreiv James Taylor Trusiee Page 8
Port Vale Football Club FoundAtion Statement of Trustees, Responsibilities The ttlL8tees (who are also tl)e direLtors of Port Vale Football Club Foundation tor th¥ PuOsL8 of company law) are r¢sponsible for preparing the trustees, r¢port and thc finan¢iul sl&t¢ments in accordance with applicable laiv and Uniled Kingdom Accounting Standards (United Kingdom Cienerally Acceptcd Accounting Pra¢lie¢). including FRS 102 'The Financial RortIng Stsndard applicable in the UK and R¢publi¢ of Ireland" Company laiv requires the trustees to PTepare financial statements for each financial yvar. Under ¢ompany law the trustees inii8t not approvc th¢ financial sthlement% unless they are satisfied that they give a and fair view of the state of atyairs of Il)e charilablc company and of the inconiing resources and application of r¢sowc¢s. includin¥ its income and expenditui'e, ol the charitsble company tor Ilwl period. In pr¢paring th¢s¢ fumncial ststeinen15, the trustees are required to-. select suitable acLounling poliLies and apply them consistently: obs¢ive tlie meiliods and prin¢&ples in the Charities SORP; make judgemenls and estimates that aTe reasonable and prudent. statc ivhcther applicable accounting standards. comprisiytg fRS 102 hftv¢ b¢en follow¢d. subjecl to any material departures disLloscd and explaiiied in the financial ytstemuits- and pr¢par¢ th¢ financial statements on Ilie gToing concern basis iinless it is inappropriate lo presume that the chai'itablL Lompuny will Lontll)UL' in business. The ttvsl¢¢s ar¢ responsibl¢ for kceping pi'oper accounting records that can disc105c with rcasonabl¢ nccur4¢y al any limc the finanLial position of thL' charitable company and enable them lo ¥'nsuTe that thL financial statLmonts comply with th¢ Companies Act 2006. They are also rL'spollsibl¢ for Saf¥ardIng the Assets of th¢ ¢harilabl¢ coinpany and hence for lakiii8 reasonable steps for lh¢ preveniion and dele¢tion of fraud wid other irregularities. The irubl¢¢s are T¢sponsible for the inaii1teD]ce and inlegrily of the curporatc and fin#i)cial infom)alion included on the charitable ¢ompany'y w¢b4itr. L¢gis18tion governing the preparation 8nd dissemination or rinoiicial statanenL$ moy differ from legislation in other juri%dTCtions. Approvcd by thc Irnstccs ofthe ¢harily on . ,2kn1.ok>liC und si¥ncd on it¥ bd)dlf by.. Mr Andr¢w James Tuylor Trustee Pag¢ 9
Port Vale Football Club Foundatlon Independcnt Examinerls Report to the trustees of Port Vale Football Club Foundation ('the Company,) I report to the chariiy Iruslees on my examination of the accounts of the Company for the year end¢d 31 August ResponsEbllltles basls of report As the charity's tnbstees of the Coinpany (and also its dir¢¢tors for the PUTposes of Company 18w) you are respoiisible for the pr¢p&ralion olthe occounts in accordallce with the requirements of the Companies Act 2006 ('the 21N)6 Act.). 14aving salisfi¢d myself that tlie aLLounts of (he Company are noi required to be &udiied under Part 16 of the 2006 Act ar¢ ¢ligibl¢ for independent Lxamination, l report in rcspc¢t of my examination of your charity's &¢eounls as carried out under s¢ction 145 01- Ili¢ Charili¢s Act 2011 {'the 2011 A¢t'). In carrying out my examination I liove tollowed the Directions given by ihe ChariLy Comniission under section 14515)Ibl ol- the 2011 Act. An indepcndcnl cxattitnalion docs not involve goili¢ring all the evidcncc that would bc r¢qiiir¢d in on aiidil and Lon%¢quei)Ily does iiot coi'LY all thc MattL thal an auditor ¢oi)siders in giving thLir opinioii 01) Ihe a¢¢ouuls. The planning and conduLi of 811 8udii goes beyond the limited as8ufdnce ihai an Independent examiiiaiion can provide. ConscqLiently l expres8 tw opinion as io ivh¢th¢r the occovntg PTesent o 'true ond fair. I'icw and my rcport is liinilcd to thosc specific moiiers sct out ID th¢ ind¢p¢ndenl exnIner'S slfjlcm¢nt. Page 10
Port Vale Football Club Foundgdtion Independent Examiner's Report to the trustees of Port Vale Football Club Foundation ('the Company,) Independent exAmiAer'8 Statement Since the Company's gross income exceeded £250,000 your examiner must be a memb¢r of a body lisled in section 145 of ihe 2011 Act. l ¢onfJrni that l am qualifked undertake ihe exanjination because l am a member of ACCA. which is one ofthe lisled bodies. I hai'e compl¢ted iny exainination. I confirni thot no matters have com¢ to my attention in connectiou ivith the ¢xaininalion gi¥'ing Ine caus¢ w beltev¢: ac¢ounling records were noi kept in respect ot Port Vale Football c.lub Foundation as required by seclion 386 ofil?e 2006 Act,. or 2. the accounts do not acLord with those records; or 3. the accounts do not comply ivith Ihc accounting requirements of seclion 396 of ihe 2006 Act Oth than any rcquircment that the account% give a 'lTU¢ and fair view, Ivhich is nol & inatter ¢onbidcred as part of an independenl cxamination. or 4. the a¢¢oiinls haiie not been prepnrod in accordan¢¢ with the meth(yds and principles of the Statement of Rccoinmcnded Practice lor occoullting ond rctK)rting by chariti¢s [gpplicablc to chariliey pparIng their accounlb in ac¢ordan¢e with the Fiuaiicial Repor(in% Standard applicablc in the UK and Republic of Irelund (FRS 1021]. I have no concerns and knve coin¢ ocioss no other matters in conneciion with tl)e examination to ivhich atlenlion yhoiild bc drawn in thi5 report in order to enable a proper understanding of Ihe accounts lo be reBched. lan willi71 Biddinglon ACCA 7-9 Macon Court Cffiv¢ Cheshire CWI 6EA Dote.. Pagell
Port Vale Football Club Foundation Statement of Financial Activities for the Year Emded 31 August 2024 (Including Income and Expenditure Account and Staternent of Total Recognised Gains and Losses) Unre$trl¢te fund5 Restricted funds Tot#] 2024 Note Income and Elldowmenls from: Donation% and legacies Cliaritdble activities 38? 562 163,833 368,743 8,320 751.305 172.153 Totsl income 546,395 377,063 923,458 Expenditure on: c.haritable activitics (617.2011 {427,849) (1,045.050) Total expcndilure 617,201 427,%49) 1.045.050 Nei ¢xpenditur¢ Nei movement in fLthds {70.80C)} 50.786 121.592) (70,8061 150,786) (121.592) Re¢onclll*llon of fvndg Total fLinds broii8ht fonvard Total funds carricd fonvard 50.786 144,304 13 22,712 22.712 Tot&l 2023 Unreslrieted funds Reslrleled funds Note Income Ind F.ndowmenls from: Donations and legacie5 Charitable activities 385,045 357.213 409,045 18,475 794.090 375,711¥ Total income 742.278 427.520 1.169,798 Expendlture on: Charitable ucliviticy 718,830 421,300 1.140,130 Total expenditure 718.830 421,3 1,140.130 Nei income 23,448 (?.220 29,6CI8 N¥t mvv¢mcnt in liwds 23,448 6,220 29.668 RtconclllalRon of funds Total fuiids brought forward Tolal fund8 carried lonvard 70.070 44,566 114,636 93,51 50,786 144,304 All of th¢ charity's activities derive from continuing operations during the above two period5. The Eunds breakdown for 2021 is shomi in note 1.1. The iioies on pages 15 to 27 form an ii)tegrdl part ot iliue fiJ)ancial 8tatcments. Page 12
Port Vale Football Club Foundation (RL'gistration number: 09408894) Balance Sheet as at 31 August 2024 2024 202.1 Not¢ Flxed assets "rangible assels io 5.975 Current a$5¢ts Debtors Cash at bank and iii hand li 101,82J 18.609 91.602 191.446 120,432 283.048 Credltors: Amounts falllng du¢ withln one year 12 1103,6951 1138.7441 Net eurr¢nt assets 16.737 144,304 Net assets 22,712 144,304 Funds of the charlty: Re$trlcted Income fund5 Restricted funds 50,786 Unrestrlcted Income funds Unrcslricled flinds 22,71 93,518 TotAI fund$ 13 22.712 44,304 For the financial y¢or ¢nding.I l August 2024 the charity was cnlitled to cxemption from aiidit undcr $eclion 477 ol'the Companics Act 2006 rclaling io small coinpanies. Directors, respon8ibilities.' The mLmbers have not required the charity io obtain 8n audit of its accounts for the year in question in accordftnce with section 476: Rnd The director8 acknowledg¢ their r¢sponsibilities for complyin8 ivitli requirements of the Act il'ith respect to accounting records and the preparation of accounts. Thc financial stateinents on pagL'$ 12 10 27 w¢r¢ approved by the ¢ruslces. and authorised for issue on .Zlp.lth.Izk.. and si8ttcd on ih¢ii' b¢litsll by: Mr Andrew James Taylor TNstee Tlie notes on pages 15 to 27 form an inl¢gral part of tliese financial statements. Page 13
Port Vale Football Club Foundation Statcmcnt of Cash Flows for the Year Ended 31 August 2024 2024 2023 Note Cash flows from Dperting Activities Ne¢ ¢ash (expenditure)liiieome 1121,592) 29.668 Adjustments to eash flows from non-e$b items Depreciatioij 1,014 (1?0.578) 29,668 Vorking c&pltal adjustmenls (Increa.qe)Idecreg8¢ in debtors (DeLreasellincreabe in ¢r¢ditors 110.221) 135,049) -5ri,094 42.749 12 Nct Cabh nows Irom operating activities 1165,8481 130.511 Cash flvws from Ini'estlng a¢tlvltle8 Purchaye of tsngible fixed assets N¢i (decT¢aSe)lincrease in cush and cash equivalents 10 6.989) (172,83T) 130,51 Cayb and casb equivalents at I September 191,446 60.935 Cash alld cash equii'8l¢nls at 31 August 18,609 191,446 All ofih¢ cash flolvs are derivcd from continuii)g OPLrations during the above two periods. Th¢ notes on pages 15 to 27 form an integral part of these financial statements. Page 14
Port Vale Football Club Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 I Charity status Port Vale Football Club Foundation is a Charity limited by guarantee, Incoor4t¢d in England. and consequently does not l]ave sliare capital. EaGli ot'the Tntstees is liable to contribute an atN)wil not exceeding £10 iowthrils the assets of the Ll)arity in tli¢ ¢vent of liquidaiion. The address of its registered office is: Port Vale Foundation Hamil Road Sioke-On-Trent ST6 IAW 2 A¢counting poli¢le$ Accountlng eonvemtlon The financial slolenienls hove been pr¢por¢d in occordence wilh the ¢hgriWs gcgverning dliment. the C.ompanics Act 2006, FRS 102 'The Financial Reporlin¥ Standard applicuble in the UK and RcpubliL of Ircland, I'FRS 102,1 and th¢ Charities SORP 'A¢LounLing und Reporting by Charilies: Statemenl of Reconimen¢Jed PraLtice (applicablc to Lharilies preparing tlieir aLLounts in aLcordanLe with Ilie FinanLial Reportin8 SthndaNI pplicable in th¢ UK and Republi¢ ot. Ireland IFRS 102), (¢ffe¢tiv¢ l JanuAry 2019). I'he ch8rily is a Pliblic Bencfit Entity as defined by FRS 102. BAsIs of pi'ep*r&tlon The finan¢i81 stalements are pr¢paT¢d in slerling (£) whlch is the functioiiEtI cenCY of ihe charity. Monethry ainounls these financial %iaithn¢nts are rounded to the n¢aresl £. The financial stalemcnts have been prepared under the hisforical cost conv¢nlion. Th¢ principal aLcouJitiiig policies adoplcd are s¢t oui below. Golng eoncern Tli¢ F8¢11 slatcments hay¢ been prepAred on a goin¥ concern busis. Th¢ trnst¢&s Hsses8 whether the use of going concern is appropriate i.e. wheiher there are any material unccrttsinties relaled to events or Condilions Iliut moy ¢asl signifi¢onl doubt on Ihc obilily of ihc charity lo ontinue 8 going concern. Tlie trustees niake this ussessmenl in respect Lira periud of une year from (h¢ d4(¢ of approval of (he tinancial sta(ements. Crltleal ae¢ountlng estlm74te$ and Judgements Iii the application of the charity's accouEkling policies. thc tru¥l¢¢s ar¢ r¢quircd makL' judgLllnen(s, esliin8tes and ussumpuong aboLiI thc ¢OTrying amounL of assets and liabilities thai are not readily appai'ent from other soiirces. The estimates and a580Ciated as%iimptiOn5 arc based on historithl expcricncc and oth¢r laclors Lhal are onsidered to be rcltvant. Actual results may differ Irom Ihese eslimAt¢s. The estunates und Ullderlyin8 assumptions are revi¢w¢d on an ongoin8 basis. Revisions lo occounliDg estiinates are recognised ill the period An which tile ¢stkmale is revis¢d where the revision aifects only that period, or in the period of the revision and fvtur¢ p¢rIS where the revision atlecls both current and liiture periods. Page 15
Port Vale Football Club Foundatlon Notes to the Financial Statements for the Year Ended 31 August 2024 Income &nd endowments DoMailoii.¥ legaeie Cash donations 8re recogiiised on receipt. Other donation.s are recogni8ed on¥¢ the charity has been notifi of the donation. iinlesg perfornlance conditioi)s reqiiire deferral of the amthint. Income tax recoNerabl¢ in relation to donalions received under Gift Aid or decds of covenant is reLognised at the tijne of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impendin¥ disti'ibution. the amount is know. and rec¢ipt is expe¢t¢d. If the amount is not known. the legacy is treated a ¢ontingent a%set. GwKts receivable Grants are recognised onec the charily ha8 enliilemeni to th¢ income. it is probable that (he in¢ome will be 'eived 4md lh¢ amouni ofihe income receivable can bc mCUSUTcd relillbly. Expendlture All exp¢nditur¢ is ron{s¢d on¢e there is u legal or conslructive obli¥otion to that expenditure, it is probable s¢(tleinent is required anLI the amoiinl cali be measured reliably. All costs are allo¢aL¢d 10 tli¢ appli¢able expendimr¢ heading that gggregat¢ similar LOSts to thai caiegory. WherL Losts cannot be direLtly attributed to particulai. hcadings they have been allo¢al¢d on A basis consistent with the use of iesourc¢s. wirh central staff costs allocated on the b8sis of timc spent. and deprecialion charges allocated on Ihe portion of the assei's use. OtliLr siipport Costs are 811o¢ated b45ed on the spread of staff costs. Charliable actlvlil Churithble ¢xpendilure comprises tliose Losls incurr¢d by the charily in Ihe delivery of its aLtiviiies and ¥erviG¢s for ils beiiLfiLiariLS. It inLlud¢s both Losts that Lan be alloLaied directly to suL.h aLtivitie5 and thosc costs of an indi¢ nature necessary to suppoit them. Support ¢ost$ Support co4ls incliide ccntral fllnclion5 and have beett allocaied to activity ¢051 Colcgories on a tJll%is con8iStenl wilh th¢ use of resources. lor examplc. allo¢olin¥ prop¢rLy Costs by floor areas, or per capiia, slatl costs by the tiinc spcni and other costs, by their Lisage. Txx*tLo The Lhai'iry is considered lo pass Ihe tests set out in Paragraph I Schcdule 6 of th¢ Finance Act 2010 and thern.fore it the defiriition of a Chai'itable iompany for UK LorpoTation tax PUTpo8es. A¢Lordin8ly, th¢ chArity 15 Potenlially cxcmpi from iaxation in rc5peLt of income or ¢ftpitAI blains rL'CLived within catc¥ories Lova'¢d by ChaptLY 3 Pari I l of the Corporalioi) T8x ALt 2010 or SeLlion 256 of IhL Taxation of Chargeable GY4ins Act 1992. to the ¢xt¢nt that suLh inLome or gains arL' appli¢d ¢xLlusiv¢ly lo Lharitable purposes. TAnglble fixed A55¢ts Tallgiblc fix¢d purchases are initially rccordcd at ¢osi. less any subsequent accurniilated dcprecialion and irnpainnent losses. Depre¢iation and amortlSOtion D¢piL¢lation is proi'ided on tangible fixed 8ss¢1s $0 to write off the c05t OT valuaiion. 1¢sg any estimated residual valu< over their eXpted useful economic lif¢ as folloivs: Page 16
Port Vale Football Club FouDdation Notes to the Financial Statements for the Year Ended 31 August 2024 Asset ¢lss o(rice Equipment D¢prc¢ition method And rAte 330/0 S(rahghL line Trode debtors Trade debtors are amoullts du¢ from donations al ¢huritable actlVLties. Trade debtors are recogmised initiully Jt the transaction price. They are subseqiiently mea8ured at amortised cost u$ing the effective interesi n)ethod, less provision for impoirn)cnt. A provision for the impoirm¢nt of trade debtors is ¢stablish¢d when ihere is objeclivc evidcn¢e thai thc Lharily will not bc dbl¢ lo collcLI ail amounis due aeLording io Ilie original lernis of Ihe receivables. Cash and e$h equlvalonts Cash and cabh cquivalcniy comprise cash on hand and call deposits. and othcr short-tenn highly liquid invL4Stmenl8 that are I.eIlY convertible to a known amount of cash and ar¢ subject to an Insilficant risk of change in value. Trade credltorj Trade creditors are obligatioos to puy for goods or services thai have been acquireil in the ordittary course ot Inless Irom suppliers. Accounis payable are classiti¢d as current liabilitie8 it the charity do¢s not have an unconditional right, nt th¢ ¢nd of tl)e repoTting PLriod. to defer setil¢ment of the creditor for ut Icast tw¢lve iiionthi> 41fter the reportii)g dale. If there is ai) uncondilioithl right to defer 8eiilemenl for at lethst twelve months aft the repvrting dute, Ih¢y are pre8enled us non-currenl liabilities, Trddc CrltorS are r¥Losni.4ed initially at the trdnsllction pricL and qubsequently mL&$ured at amortisyd Lost usin¥ the L.ffLCtivL intere81 miW4thod. Charltsble funds Unr¢stricl¢d fi]nds 8r¢ available for use at the discretion of th¢ ffi181ecs in furtherance of their charilpbl¢ obj'eclii'es. Resirictcd funds arc subject lo spccAlic conditions by donors or grantors as to how th¢y may be uscd. Thc purposes and uses oftli¢ restricted funds are sel OUL in Ilie notes to ihe fInClu1 statemenls. Elldowmeni funds are subjcGt to sp¢¢ihe conditions by donors rhat the capital musl b¢ inaintained by the charity. Penslons and other post retiromettt obllgntlons PayinLI)Is to d¢fin¢d Lontribution retirLlliciit bciiifil SLh¢nies ar¢ charged as &n expense as ihey fall due. FlnnelAI Instruments cla35ific4ilon Financial assL%ts and finan¢ial liabilities are recognised when the charity becomes a party to the contraLttwl provisions of the instrLiment. Finllncial liabilities and equlty instruinents are classified 8¢¢ording to the siibstaTh¢e of the contractual arrangements entered into. An quity instrument is any ¢ontract that evidences a residual intcrest in the assets ofthe charity aficr ddu¢¢ing all ofits liabili(ies. Page 17
Port Vale Football Club FounqlY4tion Notes to the Finan¢ial Statements for the Year Knded 31 August 2024 Recognition mea.f4remen¢ All financial assets and liabfrlities are initially measured at lrnnsaction pric¢ (including transaction costs). except for those financial a$5ets classified as at fair value through profit or loss, which nre inifially measured at fair valu¢ (ii,hi¢h is nornlally Ihe transaciion pri¢¢ ¢xcluding transaction coms). un]ess the at'rangernent constitutes a rinanLing Iransaction. Ir ali arrarbgemeni LonbtitU(ety a tinancing trnn6thLtion. Ihe finan¥ial asset or financial liability is measured at the present value of the flitu paym¢n¢s discounted at a market rdte of interest for a similar debi ii)strument. Financial assets alld liabilities are only olTsel in the statemenl of finall¢ial pDsition ¥vhen. and only whLn thLYe exists a legally enforceable right to sei off the recognised amounts and the charity intends either to settle on net basis. or lo realis¢ the asset and settle the liability simultaneously. Financial assets are derccognised wlicn and only when a) the coDtraclual ri¥hts to the cash flows from the rii)ancidl a$8Ct expire or ar¢ .4e¢il¢d. b) the chirily transfers lo another parly siibslantially all OF the risks und rewards ol. ownersliip of the financial asscl, or ¢) the charity. dcspile knving relaine41 some, bul noi oll. significant risks and rewards vf ownership, lias lrnnslerred Lonirol of ihe assei io inoilier pgrry. Financial liabilities are derecognised only when Ihe obligo1ion specified in the ¢onira¢l is diseharged, cancelled or expls. Page 18
Port Vale Football Club Foundation Notes to the Financial Statements for the Year EftdL'd 31 August 2024 Debi IAslruinenls Debt instruments whiLh meet the following conditions are subsequently nieaswed at amortised cost using ihe effective interest mdhod- (a) The Gontractual relum lo th¢ holder is (i) a fixed amount; (ill a positive fixed raie or a positive v8riable rate. or (iii) a combination of a positive or a negmtive fixed rnte and R positive variable rate. (b) Th¢ contrdcl may Provide tor repayrnents of the principal or the retur]] to the holder (but not both) to be linked to a single rel¢van¢ observable iDdex of generdl price inflalion of th¢ curren¢y in which the debi instriiment is denominated, provtded such links are not levern8ed. (c) The Lonlract may provid¢ for a d¢i¢rniinabl¢ v8riaiion of thc rctum to th¢ hold¢r during the life of the inslrumeni, provided thal (i) Ihc nciv raie satisfics condition (a) ond (he variation is not contingent on futLire evcnts other than ( l ) a ch8iige of & ¢ontrJctual variable rate-12) lo protect Ihe hold¢r against credil dcleriorllion ol. the issuer:13) changes in levies applied by a central bank or orising Irom changes in relevani taxa(ion or law: or (ill tlie new rate is a markel rale vf inierest and sutisfies condition la). (d) There is no contraclual provision thot could. by its lernis, result in Ihe holder losing the principal amount or any interest attributable to the currcnl p¢riod or prior periods. (e) Contractual provisions thai permit the igsuer to pr¢pay g d¢bt instrument or pem?it th¥ holder to put it back to the issuer belore inoturity are not conlingenl on tuiure events. other tlian lo protect the lioldcr ggBin5t Ilic cr¢dil deterioration of tlie igsuer or a change in conln)l of the issuer, or to pie¢l the holder or is&uer ogainsl chwi¥e8 in levi¢s appli¢xl by 8 central bank or arising from chan8es in relevant taxotion or law. (fj Contractual provisions may perniil the extension of the lenn of Ihe debt instrnmen¢, provided that thL retum to the holdeT And any other conlT8Ctual PTOVi.4ions applicable during the cxt¢nd¢d t¢nn 581isfy the conditions of paragraphs {a) to (¢). Debi instrumenls that are classified as payable or rcccivable ivithin one year on initial recolI10]I and ivhich meet the above condiiions are meaSLired at the undi4counled ainoullt of the cash or other consideration expe¢t¢d lo be poid or r¢ceivcd. nel of impairn1enl. Wilh the exceplion of some hedging iL8lruments. other debi inslrurnenls not meeting these conditions are measured at fair valiie throiigh profil or loss. Conimilmenls lo mokc and receive Iotsn5 wl)i¢h meet tlie conditions tnenlioned tsbove nre measured OE cosl Iwliich Inay be nil) l¢bS impainnenl. Fair value itteasvrenieiit The best cvidence ol. fair valu¢ 1$ a quoted price for an identical a55et in un active markct. When quot prices are unai'ail4bl¢, the price of a en1 iransaclion for an iden(ical asset provides eviden¢e of fair value as long as tIILfL has not been a signifi¥ant change in econoiniL ¢ir¥umslancL¥ or a significant lapse of tim¥ sini¥ the tran$tIon took place. Ir the n)ark¢i is nol aclive and rcccnt trnnsaciions ol. an identical asset on their own ar¢ not a estimatr ot. tair value. th¢ fair value is cstimated by using a vgluation t¢chniquc. Page 19
Port Vale Football Club FoundY4tion Notes to the Financial Statements for the Year Ended 31 August 2024 3 Ineome from donatloJbS and legieies Unrestricted funds CenerAI Restrieted funds Tot*R 2024 Donations and legacies; Donations troni individuals Grants. including ¢apilal grants 291,651 90.911 30,280 338,463 321,931 429,374 -382,562 IC)8,74.3 751,305 Unrestrlcted tund$ Gcneral Restrfcted fund$ Tot81 2023 Donations and legacies. Donationb froni iiith'viduals Grants. including Lflpital grants 295,946 89,099 4,669 404,376 300,615 493,475 409,04.5 794,090 4 Income from chArlt4ble Actlvl¢le8 Unre$trl¢¢ed runds General Restrl¢ted Ihiid8 Totol 2024 Partics Coaching and clubs Tickd5. Trophi&4 and Match days 15.868 109,019 38,946 15.868 17,339 38,946 8.320 163,833 8,320 172,153 Unres¢rlcted funds Gener41 Re5trlcted funds Total 2023 Parlies CoaLliing and Llubs Tickets, Trophics Mnd Mmtch days Other ineornc 3,614 265.243 48,711 39.Ci65 3,614 270,243 48,711 5.000 13,475 357,233 18,475 375,708 Pagc 20
Port Vale Football Club Foundatlon Notes to the Financial Statements for the Year Ended 31 August 2024 5 Expendlture on ¢h&ritllbl¢ actlvltles Uttrestrlcted funds General Restrlcied funds Total 2024 Staff costs Coaching ld cliibs Governance costs Deprcciation 462.968 141.679 11,540 1,014 237,224 83,833 6,792 325,512 1.014 617.201 427.849 1.045,050 Unrtslrlcted funds General Restrlcted fund$ Totol 2023 Staff costs Coaching and club Govema#¢e cosis 507,956 199.965 10.900 284,962 136,338 792,918 336,303 io,()00 718,821 421.300 1,140,121 6 Net Ineomlngloutgolnx regource8 Nei (ou¢goin¥)lin¢oming resources for the yerw include.. 2024 2023 Audit fee5 Indepelldent exainination feey 9.000 5.750 7 Trustees remuneratlon and expenges No trust¢es, nor any persons Lonnecled witl) tliem. have receiv¢d llny remuneration from the cliarily durin£ the year. No In¢¥ Ls have rec¢iv¥d any Irimbur5cd L'xpenses or any othLr ben¢fits from thL charity during the y¢ar. Page 21
Port Vale Football Club Foundation Notes to the Financial Statements for the Year Emded 31 August 2024 8 Stsff costs The a8gr¢8ai¢ payroll ¢osls w'ere 45 follows: The monthly averoge number of p¢rsons (including senior management I leadership team) employed by the Charity durillg Ibe year expressed us full time equivalellls was as follows.. 2024 No 2023 Avera8e niimb¢r of employees 50 65 Contributions to the employee pension schem¢s for thL year totslled £13,904 (2023 - £10,518). During the yeftr. the charity made redundancy andlor terminalion p&yments ivhich tolalled £Nil (2023 £13..1.33). No mployee received emoluments of more than £60.000 durin8 the y¢aT. The totsl employee benefits of the key managemeni personnel of the charity were £40.616 (2023 - £41.894). Page 22
Port Vale Football Club Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 9 Taxatlon The charity is n r¢8islered charity and is therefore exempt from taxation. 10 Tangible fiAed Asstts Fr]lure and equlpm¢nt TotHI Cost Additions 6,989 6,989 Al I l August 2024 6,989 6.989 Depre¢lalion Clwge lur the year 1,014 1,014 Al 31 August 2024 1,014 1,014 Net book value At 31 Au8USt 2024 5,975 5,975 11 Debtors 2024 2023 Trad¢ debiors Pr¢payments Other debiors 33.351 9()7 67,475 55.473 34,779 101,823 91,602 Page 23
Port Vale Football Club Foundation Notes to the Finaneial Statements for the Year Ended 31 August 2024 12 Creditors: amounts falllng due within yeHr 2024 2023 Trade creditors Other laxation and social sccllrity Orher creditors Accruals 20.380 20,744 7,635 3,196 107.169 63.005 8,999 103,695 138,744 13 Funds Balhnee At I S¢ptember 2023 Inttsmlng r¢$ourc¢s Regources expended Balance 4131 August 21124 Unre5tr1Lted fuDds Geiiei*l General fund8 93.518 546,395 {617,201) 22,712 Restrleted funds EfL Conimunity Grants EFL CominLinityFil f48ns EFL Commwiily NCS Grant Preniier l.em1¢ Priinary Kicks Premier League Priinary Stars Siokcryon-Trent Cily Council National Lortery Awards for All CoiMi)unity Ciranls Twinning and Literacy PrOjl The Communiry Foundation The National Lotlery-Golden Valiants Th¢ Hubb foui)dation Other Str¢elgamcs UK Siafford,shire County Council Thc Borclays Community Eryootball Fund Pr¢niier League fans fund Premier League Core 53.442 10,(MK> 14,400 35,(KK) 35,INA) 30.980 87,580 (53.4421 (i 0,000) (14,400) 135.000) (35.000) (5.3,673) 187.5801 (1.791) (23,807) (26,947) 22,693 .791 4.000 1.947 19,1307 25.IXK) 12.609 (12.609) {24,454) (7.746) (2.$00) (2,900) 24.454 7.746 2,-fj00 (1.000) 125,000) (i o.uooi 25.0(K) 10,000 Total restricted funds 50,786 -177,063 427,849) Total funds 144.304 923,458 11.045.050) 22.712 Page 24
Port Vale Football Club Foundatio Notes to the Financial Statements for the Year Ended 31 August 2024 at I September 2022 Incomlng resources Resources expended BAl*nce at 31 August 2023 Unrestritted funds General General ndS 70.070 742278 (718,8.10) Restrlcted EFL Community Grdnls EFL Con)miinilyFit Fans EF,L Cominunily NCS Grant F.FL Oih¢r PrL'mi¢r LLagu¢ Primary Kicks Premier League Primary Stars Sloke-on-Trelll City Coiiiicil Dudley College of ThnolOgy National Loltcry Awards for All Police & Crime ('.ommi&sioners ASB Projc¢l Community Grants Twtnning and Literacy Project YMLA YES Projeci Youth Ju8tic¢ Sport Fund The Comniunity Foundation Thc NRtional Lottery-Golden Valiantb Th¢ Hubb Foundation GarfiLld Wesion Grant Other 1.096 3.387 19.0961 (9.0721 (49.626) 13.8001 (37,916) 140,8341 (107,473) 13,000} 15,5501 5,685 49.626 3,800 35.(KK) 35.(Krf) 98.833 2.916 5,834 31,333 22.693 5,550 {5,000) 113.624 (65,8371 (23,313) (13,588) (6.-386) 15.415 69.837 23.313 13.-$88 1,791 4,000 1.947 24,396 7,-$00 (11,787) (7,500) 12.609 10.644 2.898) 7.746 Total restrleted funds M.566 427,52 421,31K>) 50.786 Totsl funds 114.676 1 169 798 1,140,1.10 Page 25
Port Vale Football Club Foundation Notes to the Financial Statemcnts for the Year Ended 31 August 2024 The 8peciftc purposes for ivhich the funds arc to be applied are as follows.. EFL Coinmunity Grants- Fundin8 from the English Fooiball League Trusl to provide community activities using the power ol Port Vale FC in the local community io engage and cornie people lo positive activities. EFL Coillmunity Fit fans- Fundiiig from the Eiiglish football League to provide targeted weight inanageinelll prograinc, using the power of Port Vale rc to engage people in wcight loss activity $upported by local Iiealth parlnershtps. EFL Community NCS- Funding to delivei. a targ¢t¢d pi'ogramme for sLh(K)I leavLrs aged 15. 16. 17 attending a slru¢tured lif¢ skills and edu¢aiional d¢velopmen¢ progr&mm¢ drIng Ihb summer holidllys inLluding skills bousters, wurksliops and on¢-oll' Cv¢n ul Pol'l Vale. Pi'Lmier Leagu¢ Primary Kicksp Funding from the Premier Ix&guL and Port Vule FC I(allY lo inspir¢ teenh8ers and youn¥? Rdulis lo learn, grow and to conn¢¢t with their community, redueing their involvement in rislry behaviour. ASB and turning them iowards positi*e tIvItIes, whilst ¢n8bling them to develop importalll lifc skills. Premi¢r Lep4gu¢ Primary Stars- r,unding from the Prcmi¢r Leagu¢ folloii'ing on from the Scliools Sports intiative using the appeal of Ihe Preinier League and prof¢ssional football Llubs to iiispire priJn¥ry school Lliildren to learn. be active 8Dd develop iinportant life sk711s. Siok¢-on-Tr¢nt City Council- TWinnin¢1}t0ring- funding from Stokc oil Tr¢nl OpportUDlty Are8 to support the incnloring. rSOnal dcvelopinLnl and traiThing of i¥r¥eted young p¢ople in Siokc on Treni secondary 8chDols. We OTe %upportin8 Wlth the devclopmenl of life skill$ traiftin& sell4levelopm¢nl and ac¢¢ss to sporling ac(iviiies. CIF %ranl- Fundin¥ from StokL' On Trcnl City C.owi¢il Community Invcstmcnl Fund to support ihc cllpilal build project of the Port Vale comniuniiy ki(clien and iL¢ms inside Dudley College of Technology- Appren(icesl)ips funding. Nalional IA)ttery Awards for All- Di59bility project funding. Police & Crime Commi8sioner5 ASB Project- ASB proj¢ct lld¢d by PCC. Twnning and Lil¥rftLy ProjeLt- A project delivering ¢duLation, litei'acy and football coaching in a women'$ prison to offenders due for releas¢. funded by the HM Prison Service via Twinning. YMCA YES Project- An eu)ploygbility and skills projLYt for young peoplc at risk of being NEET (Nol in Education. Employment or Training). Youih Justice Sport Fund- A young p¢ople's project supporting young people at risk. The Community Foundation- A T¢cns Mcnthl Hculih projcct supporting young people with Ihcir mcnlal wellbcing. The Nationlll Lottery-. Golden Valliants- Related lo sU1 and external delivery corning into se55ions. The Hubb Foundalionry A lo¢aL volunlecr project to support voluntcers being wmmunity coJllJectors and supporting people in the IoLal wmmuniry. Page 26
Port Vale Football Club Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 Garfield Weston Grnnt- A con¢i'ibution to salaries for older people programme. The Barclays Communiiy Football Fund - H¢lp you make football more acce54ible foT underr¢presented young people in your community. Streetgames UK- Further their mission lo irdtssform th¢ lives of young people living in low-incom¢, ulld¢gerved communities through sport and phystcal aciivity. St&tTord$hi County Council - Pro%'idc dIfferlt f&cilities oi)d opportunities in line with their initiatlV¢5. Pren)ier Leaguc fans fund - The Grant must be used towards delivery of the Projcei from l December 2023 to 30 Noi'¢mber 2024. Pren)ier l¢ague cor¢ The Giant Inust be used towards dcliv¢ry ol. tli¢ Proj¢ci from l Dc¢¢mb¢r 2023 10 30 Noveniber 20?4. The rL'Stricted fund$ of the charity Comprise the unexpended balances of donitions and grants held on tnist subject lo specific conditions by donor5 as to how thLy may be used. Unrestrlcted Fund% The unrestricted fiinds of the charity comprise the unexpended balances of doDlltions and 8rRniS ivliich are not subjL¢t to specific coiidillolls by donors uild grJniors as to hoiv Iliey n)ay be used. These uiclude dcsignaled runds ivhich have been sei aside oui of uDresiri¥Led funds by the trut>te¢s for speLific purposes. 14 Analysls of net A$set8 behveen funds Unregtrieted funds Cellcral Total funds at 31 August 2024 22,712 Current asse15 Unrestrl¢ted runds General I'otal funds at 31 Augus1 2023 Restrlcted funds 144,304 Current as8cls 93,518 50,786 The charity had iio mtsieriDI debt during the year. IS RelAtd PArty tran8etlons During thc period tl)e charily ¢ntcr¢d into Ihc following Iransa¢tions witli Port Vale Football Club Limited. a coinpany in which thre¥ uf tiie Iruslees are alsv a direLior. During the period to 31 August 024. sales wer¢ made to Port Vale Football Club Limited on nomal ¢ommeirial terms lo the vllluc of £NIL 12023: £24.9971. In addilioA, purchlls¢s were mode from Port Vale Football Club Liinited on nornial coinmercial term¥ to Ili¢ value of £70,688 12023.. £156,575). At 31 August 2024 th¢re was an amount of £NIL (2023.. £19,912) due from the company. P8ge 27