2025-05-31-accounts

Hertford Town Community FC Sports Education Trust (“HTYFC”) Registered Charity Number: 1171072

Summary Financial Statements and Trustee Report For the year ended 31 May 2025

Contents

Legal and Administrative Information	Page 3
Structure, Governance & Management	Page 4
Report of the Trustees for the year ended 31 May 2025	Page 5
Independent Examiner’s report to the Trustees of Hertford Town	Page 9
Community FC Sports Education Trust
Statement of Financial Activities (including the Income &
Expenditure Account) - 12 months ended 31 May 2025	Page 11
Notes to the financial statements for the year ending 31 May 2025	Page 13

Legal and Administrative Information

Trustees

The Trustees who were in office during the period were:

Mr David Goodey

Mr Paul Nash (left role after period end)

Website

www.hertfordtownyouth.co.uk

Reference and Administrative details

Registered Charity Number 11714072

Hertford Town Community FC Sports Education Trust 23-25 Maidenhead Street Hertford SG14 1DW

Bankers

Lloyds Bank Plc

Structure, Governance & Management

Type of Governing Document

Constitution

How the Charity is constituted

Charitable Incorporated Organisation

Trustee Selection Methods

New Trustee appointments are made by the Executive Committee and/or Trustees in office. New Trustees are provided with a copy of the constitution and other documents relevant to the charities operations and aims.

Organisational Structure

Hertford Town Community FC Youth Education Trust (‘the Charity’ or ‘HTYFC’) has a Board of Trustees who meet at least quarterly and are responsible for the strategic direction and policy of the Charity. Formal decision making is undertaken by the Executive Committee. The Executive Committee, in line with the constitution, comprises the Chair, The Treasurer and the Club Secretary and other persons, subject to an overall limit of 12 members, who are appointed to the Executive Committee by vote at the Annual General Meeting of the Charity’s members.

The Trustees and Executive Committee are supported in their roles by a volunteer Management Committee who assist with the day-to-day operations of the charity.

Risks and Risk Management

The Trustees consider the various risks to which the Charity may be exposed and are confident that they have appropriate systems in place to mitigate these risks. During the period covered by this report, the Charity was impacted by a suspected theft of funds (see page 6 for full details). Accordingly, steps have been taken following the period covered by this report to evaluate and strengthen policies relating to financial control and operation of bank accounts.

Practical risk assessments and Health and Safety assessments associated with the delivery of football training and matches (the Charity’s main function) are carried out periodically by HTYFC’s Welfare Officer.

Report of the Trustees for the year ended 31 May 2025

Charitable Purposes and Objects

The Charity’s purposes or objects, as set out in our governing document, are:

To organise or provide or assist in the organisation and provision of facilities (including without limitation equipment and coaching) which will enable members of the community resident in Hertford or the surrounding area (‘the area of benefit’) to participate in healthy recreation (including Association Football) ensuring that due attention is given to the physical, personal and educational needs of said community and to the development and occupation of their minds.

To further such other charitable purposes under the laws of England and Wales, particularly in the area of benefit, as the Executive Committee may from time to time decide.

Activities and Achievements

Matches and Training

The 2024/25 football season saw HTYFC field in excess of 20 teams in local grassroots football leagues. At the end of the reporting period the club has approximately 280 playing members competing in both friendly leagues (under 7 to under 11 age groups) and competitive leagues (under 12 to under 18 age groups). Additionally, HTYFC provides well attended introduction to football sessions on a weekly basis for children aged 4-6.

HTYFC shares its Football Association (‘FA’) affiliation with a linked senior men’s football club, a senior women’s football club and a junior girl’s football club. HTYFC holds FA 3-star accreditation, the highest level of FA accreditation available.

In addition to providing playing members with the opportunity to compete in league football, HTYFC has continued to offer weekly training sessions to all playing members. Each HTYFC team is overseen by a HTYFC lead coach who holds a valid FA Approved DBS certificate, and FA approved coaching, safeguarding and first aid qualifications

Annual Tournament

During the reporting period HTYFC held its second annual summer football tournament across two weekends. Over 50 local youth football clubs provided teams to compete in the tournament, with approximately 400 participates in all, ranging from the age of 6 to 18. As well as promoting HYTFC in the local community, the tournament helped raise funds for the Charity’s future operations.

Extraordinary Matters to Report

Suspected theft of charity funds

Following the period this report covers, in November 2025, HTYFC discovered a suspected theft of charity funds. This suspected theft began towards of the end of the prior reporting period, continued during the reporting period and continued afterwards until the time of discovery. Within the Income and Expenditure Account forming part of this report, we have included an item titled ‘suspected theft of funds’. This represents the full value of all potentially suspicious transactions (within the reporting period) identified as part of HTYFC’s review following discovery of the suspected theft. While investigations are ongoing to establish if all these transactions are indeed theft, for prudence the Trustees have recorded the worst-case estimate within the Income and Expenditure Account.

A summary of the amounts identified as suspected fraud is:

Prior reporting period (1 June 2023 to 31 May 2024) : £1,136 Current reporting period (1 June 2024 to 31 May 2025): £18,933 Post reporting period (1 June 2025 until discovery): £48,317 Total £68,386

Following discovery of the suspected theft, the matter was reported by the Chair of Trustees under the Serious Incident Guidelines to the Charity Commission and to the Hertfordshire Police. At the time of this report, investigations are ongoing by both parties. HTYFC is working with the Charity Commission and the Police to assist their investigations.

Once these investigations are completed, it is the intention of the Trustees to restate the annual return and accounts for the period covering 1 June 2023 to 31 May 2024. While the position in respect of the income and expenditure for this period will not change on a gross level, these accounts will be restated to correctly identify the actual level of actual theft of company funds during that period in the Income and Expenditure account.

Steps taken following discovery

As well as the formal reporting steps outlined above, the following steps were taken immediately upon discovery of the suspected theft:

• The Charity’s bank accounts were immediately frozen and debit cards cancelled;

• An independent individual was appointed by the Trustees (on a volunteer basis) to lead an investigation into the suspected theft, and to review the charity’s financial controls and policies, with the support of the Management Committee;

• • Access to the charity’s accounting system was withdrawn from all but critical individuals;

• Regular meetings of both the Executive Committee and the Management Committee were implemented to ensure the Charity responded swiftly to the suspected theft and,

• New individuals with no prior involvement in the management of the Charity were appointed as Trustee, Club Secretary and to the Management Committee (see below).

Steps taken following review

• The independent party appointed to undertake the review, and who had no prior role in the management of the Charity, agreed to become a Trustee of the charity and to act as Treasurer;

• An individual with experience of working with other charities, and who had no prior involvement with the management of the Charity, agreed to become Club Secretary;

• The Management Committee was expanded and additional individuals appointed. The Management Committee now comprises individual holding the following roles:

• ➢ Safeguarding & Welfare Officer

• ➢ Assistant Safeguarding & Welfare Officer

• ➢ Financial Controller

• ➢ Registrations Officer

• ➢ Fixtures/Pitch Officer

• ➢ Fines Officer

• ➢ Kit Officer

• ➢ Tournament Officer

• ➢ Social Media Officer

• ➢ Referee Mentor

• ➢ Head Coach;

• The Trustees have resolved that, should each individual agree, that each member of the Management Committee be appointed to the Executive Committee, subject to approval of the same at the AGM to be held in June 2026;

• HTYFC’s Financial Control, Whistleblowing, Conflict of Interest & various other policies have been updated and strengthened;

• A formal budget has been prepared to demonstrate the Charity’s ability to continue to operate its day-to-day operations while continuing to generate surplus funds; and,

• New bank mandates have been put in place, segregating roles and adding additional payment controls.

Impact of the suspected theft on HTYFC

At the commencement of the reporting period, HTYFC was in the fortunate position of holding a reserve of funds. Additionally, a review of budgets confirms that ordinary operations of the charity continue to generate surplus funds on an annual basis. Accordingly, the Executive Committee is satisfied that despite the suspected theft, there is no immediate threat to HTYFC’s ability to continue its operations.

Notwithstanding the above, the suspected theft appears to have exhausted HTYFC’s reserves position which will impact the Charity and its members by way of a reduction of planned investment in new match day and training equipment. Additionally, it is noted by the Executive Committee that careful financial management and regular review of financial performance against budget will be required to continue to monitor this position.

Signed on behalf of the Trustees.

Gary Shankland Trustee

Independent examiner’s report to the trustees of Hertford Town Community FC Sports Education Trust

I report on the accounts of the Trust for the year ended 31 May 2025, which are set out on pages11 to 14.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the 2011 Act;

• to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act; and

• to state whether particular matters have come to my attention

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

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 Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records.

Prior to the commencement of my examination, I was made aware of an incident concerning the misappropriation of charity funds by a former trustee. This suspected fraud was uncovered by the Trust in November 2025 and has been reported to the Charity Commission and the Police who are conducting their own investigations, with the Trust’s assistance. The Trust’s own investigation has identified transactions totalling £68,386 which are potentially fraudulent in nature. It is expected that the ongoing Police investigation will provide further clarity on whether all these transactions are fraudulent in nature or if any are bona fide Trust expenses.

Of the £68,386, transaction totalling £18,933 fall with the accounting period ending 31 May 2025, £1,136 fall within the prior year comparative period ending 31 May 2024, and the balance of £48,317 fall within the next accounting period ending 31 May 2026. Included within the statement of Financial Activities is a payments line where all suspected fraudulent transactions have been classified. However, the prior year comparative (period ending 31 May 2024) has not been restated to reclassify the suspected fraudulent transactions into a separate payments line. It is my understanding that the Trustees intend to restate the period ending 31 May 2024 once they have clarity on which transactions are fraudulent.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

SIGNATURE: Name: Ben Haines

Qualification: Associate Chartered Accountant (ACA) Dated: 31[st] March 2026

Hertford Town Community FC Sports Education Trust

Statement of Financial Activities (including the Income and Expenditure Account) for the 12 months Ended 31 May 2025

	£	£
	31.05.2025	31.05.2024
Incoming Resources (charitable activity)
Player Membershipand Gift Aid	87,148	87,128
Sponsorship& Grants	4,375	5,125
Pitch Hire Recharges	10,259	0
Bank Interest	91	222
Tournament Income	7,258	4,420
Total income	109,131	96,895
Resources Expended
Pitch Hire	62,999	66,981
Players Kits and Equipment	16,817	16,055
Bank Charges	95	0
IT and Software	1,417	425
League and FA Registrations	3,420	2,995
Tournament Costs	536	2,057
Volunteer and Coach Training	280	1,320
League DisciplinaryFines	1,339	833
Referee Fees	7,329	9,018
Insurance	550	995
Trophies	0	3,593
Administrative Expenses	300	1,078
Other Costs	100	906
Suspected Theft of CharityFunds	18,933	0
**Total Outgoings **	114,115	106,256
Surplus/ (Shortfall)	(4,984)	(9,361)

Note: A new accounting system is now in operation by HTYFC; accordingly, some items of income and expenditure may be classified differently to the prior year accounts and therefore the prior year comparisons above may differ slightly because of accounting policy changes. The Trustees are satisfied that none of these changes are material.

Hertford Town Community FC Sports Education Trust Reconciliation of Movement in Funds

Opening cash or cash equivalents Income Expenditure Closing Balance Funds Held as: Cash at UK Clearing Bank PayPal Restricted Funds	Unrestricted Funds Restricted Funds Total Funds £ £ £ 14,667 0 14,667 109,131 0 109,131 (114,115) 0 (114,115)	Unrestricted Funds Restricted Funds Total Funds £ £ £ 14,667 0 14,667 109,131 0 109,131 (114,115) 0 (114,115)
		9,683 0 9,683 9,659 24 0 9,683

All results relate to continuing operations.

The Notes on pages 13 and 14 form part of these financial statements

The financial statements were approved by the Trustees on 06/03/2026

Notes to financial statements for the year ended 31 May 2025

Accounting Policies

The Accounts (Financial Statements) have been prepared in accordance with guidelines laid out by the Charity Commission ‘Charity Reporting and accounting: The Essentials’ guidance 2013. The Trustees regularly review the financial strength of the charity, and the financial statements are prepared on a going concern basis.

Incoming Resources

The Incoming Resources are recognised on a receipts and payments (cash accounting) basis. This can lead to timing differences across year end results.

Resources Expended

The Resources Expended are accounted for on a receipts and payments (cash accounting) basis. This can lead to timing differences across year end results.

A separate expenditure line has been added to the accounts to show the maximum level of funds misappropriated in respect of the ongoing investigation into the suspected theft disclosed within this report.

Fund Accounting

The Charity holds no restricted funds. Where any funds are restricted funds, such funds are earmarked by the donor for the use of the Charity but restricted to certain parts of its activities or projects. The balance of funds held at the end of the reporting period are entirely unrestricted.

A reconciliation of movement in funds, together with a comparison of Income and outgoing resources to the previous year is included within the statements.

Taxation

As a registered charity, HTYFC is exempt from tax on income and profits applied for its charitable purposes.

Basis of preparation and accounting period

The financial statements reflect all transactions for the 12 months ended 31 May 2025 together with a comparison to the figures recorded in the previous financial year.

Exceptional Item – suspected theft of charity funds

As detailed on pages six and seven, and within the Income & Expenditure account on page 10, there was a suspected theft of charity funds within the reporting period. While all identified transactions suspected of being theft continue to be investigated by the Trustees and the appropriate authorities, the sum of £18,933 has been included within

the Income and Expenditure account under the heading ‘suspected theft of charity funds’. This amount represents the full value of any suspicious transactions identified as has been included to represent the Trustees view of the maximum level of funds that were misappropriated during the period.

Reporting Currency

These financial statements have been prepared and are stated in GBP/£