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2025-09-30-accounts

Charity Registration No. 1169421

THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

General information
Trustees’ report
Statement of trustees' responsibilities
Independent examiners’ report
Statement of financial activities
Statement of assets
Notes to the financial statements		 Page
3
4 - 6
7
8
9 - 10
11
12 - 18

Page 2

THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

Trustees Mr Neil Parsley
Mr David McDermott
Dr Colin Robertson
Mr Kevin Robinson
Mr Robert Keefe
Ms Sarah Stevenson
Charity number 1169421
Principal address 6 New Hall Lane
Wirral
CH47 4BP
Bankers HSBC Bank PLC
99-101 Lord Street Liverpool
L2 6PG
Accountant Alan Goddard Limited
Unit 14, Tower Street Century Building
Brunswick Business Park
Liverpool
L3 4BJ

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

TRUSTEES’ REPORT

The trustees present their report and financial statements for the year ended 30 September 2025

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objectives of the Foundation are as follows:

• Raise people’s awareness regarding what makes for effective physical activity, exercise and event specific training, and at the same time teach them about how healthy nutrition supports their aims.

• Using sport and physical activity, within an inspiring, innovative, forward thinking fitness facility as a vehicle to engage hard to reach individuals and groups into sustainable, accessible, affordable, fitness programs.

The main activities undertaken in relation to these objectives have been providing free structured coaching and health and wellbeing sessions to various community groups across Wirral and at our facility sites. The UTS Foundation works in partnership with a range of agencies, such as the NHS, police, youth service, youth offending teams, schools, colleges and youth clubs to help and support the following people:

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

By using physical activity as a vehicle to engage with such groups, we believe the Foundation is providing a public benefit which will hopefully bring lasting change to these people’s lives and the communities in which they live.

We can confirm that the trustees have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake.

Achievements and performance

Financial review

At the end of the reporting period, the Foundation has a total surplus fund of £ 90,055. This surplus can be allocated between unrestricted and restricted funds as follows:

Restricted: 26,458
Unrestricted general:
63,597
Total: 90,055

The funds held in restricted funds are those that have been granted/donated for a specific purpose. Further details of each of the projects can be found at note 14.

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two months' expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Also, the Foundation and its Trustees remain grateful to The Underground Training Station Limited for its continued support.

Risk Policy

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

Structure, governance and management

The UTS Foundation is a Charitable Incorporated Organisation and is governed by a Constitution of a Charitable Incorporated Organisation, with voting members other than its charity trustees. Also known as an Association model.

The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed or as an additional charity trustee provided that the maximum number of 12 trustees is not exceeded.

None of the trustees has any beneficial interest in the charity.

The trustees' report was approved by the Board of Trustees.

Mr David McDermott Trustee Dated: 30 July 2026

Page 6

THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees 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).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently.

• make judgements and estimates that are reasonable and prudent.

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. 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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THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2025 , which are set out on pages 8 to 10.

Respective responsibilities of trustees and examiner.

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Alan Goddard Ltd Dated: 30 July 2026

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THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025

----- Start of picture text -----
Unrestricted Restricted Total Total
Current Financial Year Notes Funds 2025 Funds 2025 Funds 2025 Funds 2024
Income from:
Charitable Activities 3 - 34,650 34,650 17,500
-
Donations and Legacies 61,703 61,703 33,705
Total 61,703 34,650 96,353 51,205
Expenditure on:
Rasing Funds 4 - - - -
Charitable Activities 5 28,607 18,145 46,752 33,191
Total Expenditure 28,607 18,145 46,752 33,191
Net expenditure for the year/ 33,096 16,505 49,601 18,014
Net movement in fund
Fund Balance - 30 Sep 2024 30,502 9,953 40,455
Fund Balance - 30 Sep 2025 63,597 26,458 90,055
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024

----- Start of picture text -----
Unrestricted Restricted Total Total
Prior Financial Year Notes Funds 2024 Funds 2024 Funds 2024 Funds 2023
Income from:
Charitable Activities 3 - 17,500 17,500 -
-
Donations and Legacies 33,705 33,705 22,129
Total 33,705 17,500 51,205 22,129
Expenditure on:
Rasing Funds 4 - - - -
Charitable Activities 5 19,546 13,645 33,191 16,786
Total Expenditure 19,546 13,645 33,191 16,786
Net expenditure for the year/ 14,159 3,855 18,014 5,343
Net movement in fund
Fund Balance - 30 Sep 2023 16,343 6,098 22,441
Fund Balance - 30 Sep 2024 30,502 9,953 40,455
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Page 10

THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

BALANCE SHEET

FOR THE YEAR ENDED 30 SEPTEMBER 2025

----- Start of picture text -----
Notes 2025 2024
Fixed assets
Tangible assets 9 - -
Current assets
Cash at bank and in hand 136,174 86,641
- -
Prepayments
Creditors: amount falling due within one year 12 (43,285) (37,761)
Total assets less current liabilities 92,889 48,880
Creditors: amount falling due after one year 13 (2,834) (8,425)
Net assets 90,055 40,455
Income fund
Restricted funds 14 26,458 9,953
Unrestricted funds 63,597 30,502
90,055 40,455
----- End of picture text -----

The financial statements were approved by the trustees on 30 July 2026

Mr David McDermott Trustee

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

ACCOUNTIING POLICIES

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the accounts and as detailed in the Trustees’ report the Trustees have considered the impact Covid-19 has had on the economy, the lingering effect on peoples’ finances and the impact this has on the charity. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants are recognised in the statement of financial activities when the conditions for receipt have been complied with.

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THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

ACCOUNTIING POLICIES (Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.

Costs of raising funds are those incurred in seeking voluntary contributions and applying for grant funding and do not include the costs of disseminating information in support of the charitable activities.

The costs of activities in furtherance of the charity's objects comprise expenditure on the charity's primary charitable purposes. Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

All expenditure is inclusive of irrecoverable VAT.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment 25% per annum straight line Hanger project 25% per annum straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

ACCOUNTIING POLICIES (Continued)

1.10 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.

1.11 Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

1.12 Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13

Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.

The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

----- Start of picture text -----
3 Donations and legacies Unrestricted Funds Unrestricted Funds
2025 2024
61,703 33,705
4 Raising funds Unrestricted Funds Unrestricted Funds
2025 2024
- -
5 Charitable activities
2025 2024
- -
Advertising
Professional fees 35,784 22,311
Insurance 828 330
Rent 9,600 9,600
Telecommunication Costs - -
Share of support costs (see note 6) - 410
Share of governance costs (see note 6) 540 540
46,752 33,191
Analysis by fund 2025 2024
Unrestricted funds 28,607 19,546
Restricted funds 18,145 13,645
46,752 33,191
----- End of picture text -----

6 Support costs
2025
2024
2025
2024
2025
2024
Depreciation
-
-
-
-
-
-
Interest Payable
-
410
-
-
-
410
Computer Costs
-
-
-
-
-
-
Accountancy
-
-
540
540
540
540
-
410
540
540
540
950
Expenditure Analysis
Charity Activities
-
410
540
540
540
950
Total Costs
Governance Costs
Support Costs

Governance costs for accountancy include a payment of £ 540 (2024: £540) for independent examination fees.

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

7 Trustees

Trustees' remuneration and other expenses amounted to £ 0, which related to all trustees for the year (2024: £ 0).

8 Employees

There were no employees during the year. (2024: no employees).

There were no employees whose annual remuneration was £60,000 or more. (2024: no employees).

Tangible fixed assets
Cost
At - 01 Oct 2024
At - 30 Sep 2025
Depreciation and impairment
At - 01 Oct 2024
Charge for the year
At - 30 Sep 2025
Carrying Amount
At - 30 Sep 2024
At - 30 Sep 2025
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
Loans and overdrafts
Bank loan
Payable after one year
Creditors: amounts falling due within one year
Other creditors
Bank loan
Accruals and deferred income
Creditors: amounts falling due after more than one year
Bank loans
13
12
11
10
9		 7,042
64,758
71,800
7,042
64,758
71,800
7,042
64,758
71,800
-
-
-
7,042
64,758
71,800
-
-
-
-
-
-
2025
2024
136,174
86,641
2025
2024
46,119
46,186
2025
2024
8,414
14,005
2,834
8,425
2025
2024
32,365
27,381
5,580
5,580
5,340
4,800
43,285
37,761
2025
2024
2,834
8,425
2,834
8,425
Fixtures
& Fittings
Total
Equipment

Page 16

THE UNDERGROUND TRAINING STATION FOUNDATION

(ALSO KNOWN AS THE UTS FOUNDATION)

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

----- Start of picture text -----
Balance Expenditure Balance Expenditure Balance
01-Oct-24 2024 30-Sep-24 2025 30-Sep-25
Rehabilitation and
- -
Development Centre 3,533 3,533 3,533
Anne Duchess of
Westminster’s Charity 2,565 3,855 6,420 (870) 5,550
LCVS Community Impact
Fund - - - 3,000 3,000
Sport England Movement
Fund Award - - - 5,352 5,352
National Lottery Community
Fund 7,500 (7,500) - 9,023 9,023
13,598 (3,645) 9,953 16,505 26,458
----- End of picture text -----

Rehabilitation and development centre

This fund is to develop a World Class, not-for-profit rehabilitation and development centre designed to help some of the most vulnerable members of our community tackle a range of illnesses and ill health. This includes those with mental ill health, drug and alcohol issues, obesity and type 2 diabetes, military veterans and post cancer care. Inside there will be space for counselling, workshops as well as excellent facilities, equipment and classes to help people recover and improve their health and wellbeing.

Anne Duchess of Westminster's Charity

The UTS received funding for the continued part-time employment of 2 x Cancer Rehabilitation Level 4 specialists coach and the creation of two new Community Nutrition and Wellbeing Practitioner roles.

National Lottery Community Fund

UTS Foundation delivered a 12-week Health and wellbeing programme for people living with cancer. The support covered physical assessments, psychological and social workshops with a focus on supporting peer to peer support.

Sport England Movement Fund Award

This project delivered a structured physical activity programme supporting over 200 individuals with long-term health conditions (including obesity, diabetes, cardiovascular disease, anxiety, and depression). Activities will be delivered in four rolling 12-week cohorts, with three sessions a week combining indoor strength and cardiovascular training and guided outdoor orienteering walks in nature. Funding supported coaching costs, project staff time, travel for outdoor sessions.

National Lottery Community Fund

This project delivered a health and wellbeing programmes for people living with Cancer. The grant supported our core wellbeing coaching provision, encompassing assessments, weekly one-to-one physical sessions, group coaching and virtual delivery. Further funds covered nutrition assessments and group nutrition workshops.

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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)

15 Analysis of net assets between funds

----- Start of picture text -----
Unrestricted Restricted Total
2025 2024 2025 2024 2025 2024
- -
Tangible assets
Current assets/(liabilities) 66,431 38,927 26,458 9,953 92,889 48,880
- -
Long term liabilities (2,834) (8,425) (2,834) (8,425)
63,597 30,502 26,458 9,953 90,055 40,455
----- End of picture text -----

16 Operating lease commitments

At the reporting end date, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows

Within one year
Between two and five years
In over five years		 2025
2024
7,200
7,200
28,800
28,800
122,400
122,400
158,400
158,400

17 Related party transactions

Transactions with related parties

Included in other creditors is a balance of £ 32,365 (2024: £ 26,841) owed to Underground Training Station Limited, a company in which three of the trustees, Neil Parsley, David McDermott and Colin Robertson, are also directors.

No Trustees received any remuneration for services as Trustees of the charity.

Page 18