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2023-06-30-accounts

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CHARITY NUMBER: 1178842

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CONTENTS

CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and
Advisers 2
Words from our CEO 3
Words from our Chair 4
Structure, Governance and Management 5
Our Young People 7
Looking Back on the Year 8
Foundation & Academy 9
Sessions in Schools & Housing Estates 9
Girls & Young Women 9
Disability Support 10
Refugee & Asylum Seeker Support 10
Early Years Support 10
Collaborations & Partnerships 11
Economic Climate 12
Future Planning 13
Strategy Launch 13
Theory of Change 14
Impact Assessment & Key Statistics so Far 15
Financial Review 16
Fundraising 16
Reserves Policy 17
Risk 17
Trustees’ Responsibilites 18
Auditors 19
Independent auditors’ report on the fnancial statements 20-23
Statement of fnancial activities 24
Balance sheet 25
Statement of cash fows 26
Notes to the fnancial statements 27-4�

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BLOOMSBURY FOOTBALL FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2023

Trustees C Cowen, Chair N Jenkins (resigned 26 January 2023) M Von Herkomer D Austin S Bunis T Jothilingam S Bennett M Ahmed (appointed 20 July 2023) Charity registered number 1178842 Principal office LABS Atrium Camden The Stables Market London NW1 8AH Chief executive officer Charlie Hyman Independent auditors Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames Surrey TW18 4BP Bankers Barclays Bank 15-17 Tottenham Court Road Fitzrovia London W1T 1BH

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WORDS FROM OUR CEO Introduction by Charlie Hyman, Founder and CEO of Bloomsbury Football.

Bloomsbury Football Foundation was created in 2018 with the support of founding �rustees Daniel Austin and Mark von Herkomer. We saw how increasing inactivity rates among young people in London, compounded by childhood obesity rates, were contributing to declining mental and physical health and increasing isolation.

We saw how financial barriers to support services were making matters worse, and so decided to create a high-quality, affordable football programme that got young people active and that everyone could benefit from.

Since the first session, which I ran for four young people with a bag of cones and some footballs at the Castlehaven Community Centre in Camden Town, Bloomsbury has grown to become an essential part of the lives of thousands of young people.

5,000 young people a week across London now feel the physical, mental and social benefits of playing regular football thanks to Bloomsbury’s excellent coaches and the inclusivity of the financial assistance model.

It has been incredibly gratifying to see Bloomsbury Football develop from that first session, and I look forward to realising the next stages in our growth journey.

Charlie Hyman, Founder

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WORDS FROM OUR CHAIR

Introduction by Charlie Cowen, Chair of Bloomsbury Football.

The work that Bloomsbury Football carry out is vital for young people in the capital. Amid mental health and cost of living crises, the unifying power of sport can be a driving factor for positive change, for both individuals and wider society. By providing affordable, accessible coaching to those at highest risk, Bloomsbury Football is proud to proactively impact London’s communities for the better.

I am delighted by how successfully the Foundation has grown since 2018. The impact data and testimonials the team receives from attending players, their parents and their coaches underline the success of the organisation, highlighting how sessions empower young people through better confidence, foster lasting friendships and improve both mental and physical health.

The development and launch of the Foundation’s new strategy this year is very exciting. The new strategy will allow Bloomsbury Football to drive continued impact on a large scale whilst maintaining a localised approach.

I am excited to continue working to enrich the lives of all our programmes’ beneficiaries – be those players, parents, staff, coaches and members of the wider community.

Charlie Cowen. Chair

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STRUCTURE, GOVERNANCE & MANAGEMENT

Bloomsbury Football Foundation is a Charitable Incorporated Organisation registered with the Charity Commission in England and Wales. Its governing document is the constitution dated 19th June 2018.

The objects of Bloomsbury Football Foundation are to advance in life and help young people through the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life.

In order to measure the success of our work in pursuit of our charitable objectives, we have used a range of methods, both quantitative and qualitative, to monitor impact: notably pre- and post-delivery beneficiary surveys, parent surveys, feedback groups, and case studies. The metrics we measure are aligned to the Collaborative for Academic, Social and Emotional Learning (CASEL) wheel and assess improvements in our beneficiaries’ mental and physical wellbeing, life skills and social cohesion in our communities.

TRUSTEES

The Trustees meet 6 times per year to discuss a full range of matters relating to safeguarding, risk management, strategy, finance and general operational running.

Trustees are appointed according to the charity’s governing document, and to meet specified capability requirements. The appointments are overseen by the current �rustees. All Trustees give their time voluntarily and receive no benefits from the charity. All �rustees have due regard to the Charity Commission’s guidance on Public Benefit. New Trustees receive an induction into the work of the charity from the Chief Executive Officer and existing Board and undertake training as necessary regarding the responsibilities of Trustees.

The Chief Executive Officer is appointed by the Trustees to manage the day-today operations of the charity. The Trustees review the aims, strategic objectives and activities of the charity each year and approve all decisions relating to strategy and budget. The Trustees receive reports before their Board meetings on activities, which include financial reports, progress against the strategic objectives, key performance indicators, feedback from our service users and suggestions for the future. Each �rustee is assigned an area of responsibility: there is, for example, a trustee who leads on safeguarding.

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The Board of Trustees constitutes the most senior management structure at Bloomsbury, occupying the position of ultimate authority. Below them sit the senior leadership team, consisting of the following staff: the Chief Executive Officer, the Foundation Programme Manager, the Finance & Operations Manager, the Academy Programme Manager, the Head of Partnerships, the Head of Fundraising and Impact, the Girls Super League Manager, the Schools Programme Manager, the Futsal Programme Manager, and the Marketing Manager. Of these senior managers, the Chief Executive Officer is of the highest rank. The remuneration of all senior managers is agreed upon by the Board of Trustees and the Chief Executive Officer benchmarked on comparative pay rates.

VOLUNTEERS

Volunteers are occasionally used to deliver the programmes within the charity. This is often as part of a corporate volunteering scheme and tends to take the form of 5 hours per month on average. These hours are typically spent assisting on holiday camp provision. We have assessed the risks of using volunteers in our risk register.

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OUR YOUNG PEOPLE

Read the testimonial from one of our incredible young people, Ava.

AVA, 15

This testimonial is taken verbatim from ‘Ava’, a 15-year-old, recently arrived from Iran, who participates in Bloomsbury’s Refugee and Asylum Seeker Programme:

“I hope everyone that is reading this doing well!

From the day I came in London I had no friends and nowhere to spend my free time until one of the guys in my hotel told me about Bloomsbury’s football sessions!

After the day I enter to this session I find more friends and I could spent my free time on something that is special to me and now is my favourite thing to do!

Everything in the Bloomsbury’s football session is good and we can enjoy and play with the guys are there and playing football with them is the best thing! And the best coaches that can help you with everything and always is caring about us.

All I want to say is Thanks Bloomsbury for everything and taking us to play and enjoy football.”

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LOOKING BACK ON THE YEAR... PROGRAMME OVERVIEW

Bloomsbury Football Foundation uses football to provide life-changing support to young people of all backgrounds.

In 2022/23, we engaged c.5000 young people per week, providing holistic, care-first football coaching, regardless of background or ability. Our financial assistance model, which provides subsidised places for those in need, minimises the cost barrier, allowing us to support young people from all backgrounds, particularly those from backgrounds traditionally labelled as ‘disadvantaged’.

We never turn a child away because of their financial circumstances, and affording every young person access to our sessions helps reduce inequalities in both physical and mental health. Further, our programmes are designed to improve transferable soft skills, like communication and confidence, while improving off-pitch behaviour.

Our beneficiaries are from a large variety of backgrounds: over 60% of our beneficiaries identify as minority ethnic, 38% receive Free School Meals, and over 1,500 of our weekly participants are girls.

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Foundation & Academy

Throughout 2022-23, we offered structured football opportunities to all young people, irrespective of their ability. This was achieved through the Bloomsbury Foundation (open to those of all abilities) and the Bloomsbury Academy (limited to elite players).

The Foundation provides weekly training sessions and optional weekend matches for its participants and was attended by several hundred young people. A similar number were involved in the Academy, these young people benefitting from tri-weekly training sessions and competitive fixtures at the weekend.

Players in both programmes can benefit from the extensive financial assistance available across the organisation, there�y benefitting from private football coaching at a genuinely affordable price.

Sessions in Schools & Housing Estates

The Foundation’s free-to-play football sessions reach thousands of young people per week an� are hosted in 30+ schools and nurseries, as well as a range of housing estates across the capital. By hosting sessions in the centre of these communities in easily accessible spaces, we ensure football is right on the doorstep of young people.

Girls & Young Women

Both the aforementioned Foundation and Academy have dedicated girls-only programmes, allowing us to engage with over 1,500 young women each week. The Girls Super League (GSL) gives further opportunity for competitive play at a fixed location each week, removing physical access barriers.

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Disability Support

The Foundation hosts a weekly Pan-Disability session for young people with a range of learning impairments, as well as weekly sessions for blind and visually impaired children. We are delighted to have partnered with England International Blind Footballer Azeem Amir, who has led sessions to help remove the stigma around visual impairments and other disabilities.

Refugee & Asylum Seeker Support

The successes of the Refugee programme in 2022/23 has enabled its growth this year, allowing us to cater for over 100 young people who are recently-arrived refugees or asylumseekers. Children from a diverse ethnic backgrounds come together in these sessions, including Afghans, Ukrainians, Iranians, Albanians, Salvadorans and Nicaraguans, among others. Most are housed in bridging hotels in Camden, and we offer English language learning support for them and their parents.

Early Years Support

The ‘Bloomsbury Bears’ programme caters for children between the ages of two and six, offering an introduction to football. These sessions help with participants’ physical health, social and cognitive development, and contribute to the improvement of their motor skills. In 2022/23, we engaged over 300 early learners weekly through our after-school programmes and extra-curricular sessions in nurseries.

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COLLABORATIONS & PARTNERSHIPS

We use a collaborative approach of partnering with local community groups; first to inform our need assessments, then to help drive engagement in our programmes and throughout to improve the quality of our charitable provision, ensuring that it is youth-informed and community-led at all times. As an example of one such partnership, we have been running a programme of free-to-access football provision on the Peckwater Estate in Kentish Town for the past year. The NW5 Project have been critical in providing a constant channel of communication between coaches and parents in the programme, most of whom are not present in either dropping off their children or picking them up. As a result, we work closely with them to deliver communication on the day-to-day logistics of the project, as well as ensuring that it meets our safeguarding standards as an organisation, while we meet a longstanding need within the community, providing a pathway to regular engagement in physical activity for children living on the Peckwater Estate.

Other successful campaigns in 2022/23 include collaboration with Freda to provide female-identifying young people with sustainable period products, partnering with Nike to host watch parties for the Lionesses’ victorious Euros run, and being named Havas’ Charity of the Year. Such partnership work also forms qualitative evidence of our impact on the young people in our programmes; profiles by the Guardian, Sky News, ITV News, the Evening Standard and many more have highlighted some of the personal stories showcased by our coaches and beneficiaries. Further to this, after building confidence through long-term engagement in our programmes, several young people have given interviews to mainstream media channels such as Sky News and BBC News on the power of football and an SEL-based approach to coaching and mentoring. Such opportunities to take a thought leadership role in the sport for good sector is exemplified by girls in our Academy participating in the Period Project with Freda, achieving a lasting impact in the space.

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ECONOMIC CLIMATE

2022-23 saw everyone – individuals, charities and businesses – feel the squeeze of the Cost of Living Crisis. With individuals exposed to greater food insecurity and with less money in their pockets in real terms, charities were further strained and competition for grants increased. We asked every family receiving a subsidised place in our programmes if further reducing the cost of their child’s place would help, and we had a fantastic response. The majority of respondents replied in the affirmative, so with the support of a grant from the Evening Standard we were able to halve the cost of our provision for those most in need.

While the crisis has by no means abated, we feel confident that we have the financial controls and policies to ensure sustainability and growth, including contingency plans which are triggered by certain financial benchmarks. This includes a policy of trying to maintain three months’ worth of running costs in unrestricted reserves at all times.

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FUTURE PLANNING

STRATEGY LAUNCH

As we’ve enjoyed such rapid growth since our founding, we recently put a halt to starting new programmes while we undertook a strategy review, so that our future growth can take place scalably, efficiently, and have the strongest impact on our beneficiaries.

We put a tender out to a range of consultancies, with a large range of size and expertise, and fielded presentations on the future of the organisation from each of them. A boutique charity consultancy was selected as the best-placed organisation to support our growth and charitable impact, and together we have begun to work with focus groups and participant data to analyse what it is that we do best.

We know that there is a demand for our services across London and, given we currently run in six of a possible thirty-two boroughs, we would like to offer our support to a larger group of beneficiaries. The development of a new strategy will allow us to expand our charitable provision without sacrificing the quality of the support we offer, whether to new participants or existing beneficiaries. Importantly, the strategy will also focus on how we can deepen our social impact across our main areas of interest - physical health, mental health, community outlook, and life skills - whilst also improving our impact-measuring processes.

As we scale, we expect our essential model to remain the same: we will continue to provide accessible sport with a focus on improving the holistic development and well-being of young people. We hope to adapt our programmes so as to reach as many under-engaged young people as possible: most notably, by continuing to expand our dedicated programmes for girls, refugees, and young people with disabilities.

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THEORY OF CHANGE

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IMPACT ASSESSMENT & KEY STATISTICS SO FAR

Our impact evaluation methods have come on significantly over the past 12 months, but we know that this is an ever-evolving process as we seek to understand the work we do and the impact we have on young people in our communities as best we can. We now use a range of methods, both quantitative and qualitative, to monitor impact: notably pre- and post-delivery beneficiary surveys, parent surveys, feedback groups, and case studies. Our surveys use a bespoke version of Sport England’s ‘Sporting Futures’ framework, developed alongside industry-leading consultants from Portas and experts at the University of Westminster, alongside the CASEL wheel to measure changes in SEL competencies, as well as physical and mental health and social outlook. Using Sport England’s framework allows us to compare our results to national, regional, and local averages and measure our impact on a wider community level in line with the Mayor of London’s focus on integrated communities.

Through this monitoring and evaluation framework, a survey of some of our 5,000 beneficiaries this year found that:

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FINANCIAL REVIEW

22/23 was a productive year with the charity producing a surplus; this enabled the charity to move towards its target of 3 months reserves and increase the overall financial stability of the charity. Whilst the charity is reliant on fundraising, the trading income, largely from player fees and school payments, ensures that there are reliable sources of income amongst an often unpredictable fundraising outlook.

FUNDRAISING

We view longevity and financial sustainability with the utmost importance. Our organisation has a diversified income stream� approximately 40% of our income comes from trading income (more affluent parents paying for their children’s sessions so that external funding goes towards the families and young people who need it most), and the rest is fundraised. We have a full-time member of staff dedicated to building corporate partnerships, and another dedicated to working with charitable trusts and foundations. This helps to ensure financial sustainability. We have the financial controls and policies to ensure sustainability and growth, including contingency plans which are triggered by certain financial benchmarks.

Since 2018, we have experienced significant growth year-on-year, with total income in FY 2020/21 of £624,784, total income in FY 2021/22 of £1,382,661 and total income in FY 2022/23 was £2,372,662. Fundraising efforts and the growth of our programmes have played a dual role in this growth, particularly as the percentage of beneficiaries receiving bursaries has increased over the last few years as well. Our funding pool has been wide and varied; we feel that our diversified income streams and fundraising pool is a strength of our financial sustainability.

Whilst our income has experienced significant growth, our costs have risen significantly too to reflect the growth in our programmes.

Over the last year, the unit costs for the delivery of our programmes have increased � this is predominantly due to inflation in staffing & facilities costs. This, alongside the increase in the percentage of beneficiaries receiving financial assistance has meant that it has been particularly important for our fundraising to remain resilient.

Costs were £2,134,350 (2022: £1,295,738) and there was a surplus of £238,312 for the year (2022: £86,923).

Total fundraised income in 2022/23 was £1.53m, against a target of £1.7m. We are registered with the Fundraising Regulator and our fundraising efforts are carried out solely by employees of Bloomsbury Football Foundation, as outlined above. Bloomsbury Football

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received no complaints during the year in relation to its Fundraising. Special care is taken not to put undue pressure on elderly or vulnerable donors.

RESERVES POLICY

Bloomsbury Football has always had a policy of using its funds to the greatest extent possible to meet its charitable objectives.

In order to ensure that Bloomsbury has enough funds to pay its liabilities as and when they fall due it should ensure it maintains adequate funds in easily accessible bank account(s). These minimum level of funds are described as “reserves”.

Our reserves are calculated based on the gross spending for the next 3 months including capital expenditure but excluding fully funded events/tournaments.

Our policy is to maintain 3 months worth of running costs in unrestricted reserves; this amounts to approximately £600,000. At 30 June 2023 the charity had total funds of £423,485; after deducting restricted funds of £114,824 and amounts invested in functional fixed assets of £3,172, there were free reserves of £305,489. However, the restricted funds of £114,824 are closely related to the core activities of the charity and available to use to pay operating costs in relation to these programmes.

RISK

Whilst we have an agreed reserves policy, board meetings are used as a chance to regularly assess risk and sign off on financial and other decisions.

Safeguarding is a permanent feature of a Board meeting agenda; mitigating risks through improving our Safeguarding processes is a large part of our risk management.

All decisions which take on material risk, financial or otherwise, are signed off on by the board.

We have developed a Risk Register, alongside a Risk Matrix, which is considered by the Trustees at board meetings. The Trustees meet 6 times per year to discuss a full range of matters relating to safeguarding, risk management, strategy, finance and general operational running. Whilst we have not had any significant issues with risk management, of which safeguarding forms a large part, we have an agreed crisis management strategy, among many other measures taken to mitigate risk. Central to such measures is regularly monitoring our top risks, which are cash flow sensitivities, the potential for adverse publicity and the loss of key staff, all of which risks we have taken significant steps to address and mitigate.

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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 & 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and 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 Trust deed. 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.

Insofar as the �rustees are aware:

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AUDITORS

Xeinadin Audit Limited cease to act as auditors in November 2023 and Menzies LLP were appointed in to fill a casual vacancy and have been appointed as auditor for the ensuing period�

Approved by order of the members of the board of Trustees and signed on their behalf by:

.................................................................................

Charlie Cowen (Chair of Trustees) Date: 29/02/2024

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BLOOMSBURY FOOTBALL FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLOOMSBURY FOOTBALL FOUNDATION

Opinion

We have audited the financial statements of Bloomsbury Football Foundation (the 'charity') for the year ended 30 June 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

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BLOOMSBURY FOOTBALL FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLOOMSBURY FOOTBALL FOUNDATION (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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BLOOMSBURY FOOTBALL FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLOOMSBURY FOOTBALL FOUNDATION (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

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BLOOMSBURY FOOTBALL FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLOOMSBURY FOOTBALL FOUNDATION (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Menzies LLP

Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Date: 16-Apr-2024

Menzies LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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BLOOMSBURY FOOTBALL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
846,922
834,352
3,754
1,685,028
142,218
1,376,737
1,518,955
166,073
142,588
166,073
308,661		 Restricted
funds
2023
£
687,634
-
-
687,634
-
615,395
615,395
72,239
42,585
72,239
114,824		 Total
funds
2023
£
1,534,556
834,352
3,754
2,372,662
142,218
1,992,132
2,134,350
238,312
185,173
238,312
423,485		 Total
funds
2022
£
768,792
605,905
7,964
1,382,661
72,500
1,223,238
1,295,738
86,923
98,250
86,923
185,173

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 27 to 42 form part of these financial statements.

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BLOOMSBURY FOOTBALL FOUNDATION

BALANCE SHEET AS AT 30 JUNE 2023

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
15
Total net assets
Charity funds
Restricted funds
16
Unrestricted funds
16
Total funds		 469,927
167,940
637,867
(192,552)		 2023
£
1,509
1,509
445,315
446,824
(23,339)
423,485
114,824
308,661
423,485		 79,981
267,303
347,284
(132,551)		 2022
£
2,940
2,940
214,733
217,673
(32,500)
185,173
42,585
142,588
185,173

The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by:

C Cowen (Chair of Trustees)

16-Apr-2024

The notes on pages 27 to 42 form part of these financial statements.

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BLOOMSBURY FOOTBALL FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Repayments of borrowing
Payment of interest on loan
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20		 2023
£
(88,394)
-
-
(9,161)
(1,808)
(10,969)
(99,363)
267,303
167,940		 2022
£
151,452
(2,556)
(2,556)
(7,500)
(313)
(7,813)
141,083
126,220
267,303

The notes on pages 27 to 42 form part of these financial statements

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1. General information

The Bloomsbury Football Foundation is a Charitable Incorporated Organisation registered with The Charity Commission for England and Wales. The address of its registered office is Bloomsbury Football, 19 Chalton Street, London, NW1 1JD.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Bloomsbury Football Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in Sterling to the nearest £1.

2.2 Going concern

At the time of approving the accounts 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.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Grants are credited to the Statement of Financial Activities when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipment - 33% Straight Line

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting policies (continued)

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight-line basis over the lease term.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. The full expense and liability are charged to unrestricted funds.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.13 Termination benefits

Termination benefits are recognised as a liability and expense in profit or loss when the charity is demonstrably committed either to terminate the employment of an employee or group of employees before the normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The charity is demonstrably committed to a termination only when there is a detailed formal plan from which there is no realistic possibility of withdrawal.

Termination benefits are measured at the best estimate of the expenditure that would be required to settle the obligation at the reporting date.

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

3. Income from donations and legacies

Donations
Grants
Government grants
Total 2022		 Unrestricted
funds
2023
£
212,097
495,278
139,547
846,922
398,853		 Restricted
funds
2023
£
55,408
632,226
-
687,634
369,939		 Total
funds
2023
£
267,505
1,127,504
139,547
1,534,556
768,792		 Total
funds
2022
£
282,160
471,608
15,024
768,792

4. Income from charitable activities

Sponsorship
Fees and Payments
Total 2022		 Unrestricted
funds
2023
£
-
834,352
834,352
565,905		 Restricted
funds
2023
£
-
-
-
40,000		 Total
funds
2023
£
-
834,352
834,352
605,905		 Total
funds
2022
£
40,000
565,905
605,905

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

5. Income from other trading activities

Income from non charitable trading activities

Other trading income
Total 2022		 Unrestricted
funds
2023
£
3,754
7,964		 Total
funds
2023
£
3,754
7,964		 Total
funds
2022
£
7,964

6. Expenditure on raising funds

Costs of raising voluntary income
Staff costs
Total 2022		 Unrestricted
funds
2023
£
54,000
88,218
142,218
72,500		 Total
funds
2023
£
54,000
88,218
142,218
72,500		 Total
funds
2022
£
-
72,500
72,500

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

7. Analysis of expenditure on charitable activities

Summary by fund type

Football programmes
Total 2022		 Unrestricted
funds
2023
£
1,376,737
855,884		 Restricted
funds
2023
£
615,395
367,354		 Total
2023
£
1,992,132
1,223,238		 Total
2022
£
1,223,238

8. Analysis of expenditure by activities

Football programmes
Total 2022		 Activities
undertaken
directly
2023
£
1,637,117
996,979		 Support
costs
2023
£
355,015
226,259		 Total
funds
2023
£
1,992,132
1,223,238		 Total
funds
2022
£
1,223,238

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Sports kit
Coaches and referees
Leagues and tournaments
Facilities and venues
Travel expenses
Payment processing fees
Tours
Consultancy
Staff training
Telephone
Marketing
Total 2022		 Activities
2023
£
455,100
108,304
350,756
24,411
386,831
40,998
10,549
134,274
71,453
11,935
8,615
33,891
1,637,117
996,979		 Total
funds
2023
£
455,100
108,304
350,756
24,411
386,831
40,998
10,549
134,274
71,453
11,935
8,615
33,891
1,637,117
996,979		 Total
funds
2022
£
347,319
71,448
166,333
38,899
286,868
22,135
-
-
29,629
1,780
9,505
23,063
996,979

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Activities
2023
£
Staff costs
156,108
Depreciation
1,430
Accountancy and legal fees
27,480
Insurance
8,510
Software
58,390
Sundries
18,989
Staff entertainment
9,247
Subsistence
3,232
Rent
39,639
Bank charges
2,690
Loss on disposal of fixed assets
-
Governance costs
13,500
Conferences & Events
15,800
355,015
Total 2022
226,259
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above		 Total
funds
2023
£
156,108
1,430
27,480
8,510
58,390
18,989
9,247
3,232
39,639
2,690
-
13,500
15,800
355,015
226,259
2023
£
8,500
2,750		 Total
funds
2022
£
95,225
1,100
11,111
10,072
33,632
5,623
-
12,900
35,191
5,824
7,781
7,800
-
226,259
2022
£
5,700
2,100

9. Auditors' remuneration

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
633,601
52,991
12,834
699,426		 2022
£
467,980
37,666
9,398
515,044

Included in staff costs is one non-statutory/non-contractual severance payment totalling £Nil (2022 - £5,000). The payment in the prior year related to a mutual settlement agreed between both parties. No amounts remained payable at the prior year balance sheet date.

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Employees 25 19

No employee received remuneration amounting to more than £60,000 in either year.

The key management of the charity comprise the Trustees and the senior management team. The total amount of employee benefits received by key management for their services to the charity was £233,753 (2022 - £59,350).

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 30 June 2023, no Trustee expenses have been incurred (2022 - £NIL) .

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

12.
Tangible fixed assets
Cost or valuation
At 1 July 2022
At 30 June 2023
Depreciation
At 1 July 2022
Charge for the year
At 30 June 2023
Net book value
At 30 June 2023
At 30 June 2022
13.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
100,341
1,690
367,896		 Computer
equipment
£
4,333
4,333
1,393
1,431
2,824
1,509
2,940
2022
£
64,386
2,750
12,845
469,927 79,981

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

14. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 July 2022
Resources deferred during the year
Amounts released from previous periods		 2023
£
10,000
46,563
17,241
55,789
62,959
192,552
2023
£
19,133
40,883
(19,133)
40,883		 2022
£
10,000
52,449
11,704
27,958
30,440
132,551
2022
£
-
19,133
-
19,133

Income has been deferred in respect of event and membership fees received relating to the next financial year.

15. Creditors: Amounts falling due after more than one year

Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years		 2023
£
23,339
2023
£
10,000
13,339		 2022
£
32,500
2022
£
10,000
22,500

Included within Bank loans is a Bounce Back Loan made available as part of the UK Government Coronavirus support scheme. The loan is guaranteed by the UK Governments under BBLS. The loan attracts interest at a rate of 2.50% and is repayable by 60 monthly instalments of £833.33. The final repayment is due in September 2026.

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BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

16. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Funded Places
Holiday Camps
Events
School sessions
Staff costs
Pilot Project
Open sessions
Open sessions
Refugees Programme
Total of funds		 Balance at 1
July 2022
£
142,588
11,620
9,674
-
-
-
21,291
-
-
-
42,585
185,173		 Income
£
1,685,028
139,613
214,848
155,964
42,000
11,772
12,333
16,200
24,000
70,904
687,634
2,372,662		 Expenditure
£
(1,518,955)
(132,543)
(199,848)
(155,964)
(21,000)
(6,140)
(9,000)
(16,200)
(24,000)
(50,700)
(615,395)
(2,134,350)		 Balance at 30
June 2023
£
308,661
18,690
24,674
-
21,000
5,632
24,624
-
-
20,204
114,824
423,485

The specific purposes for which the funds are to be applied are as follows:

Unrestricted funds are applied to the general work of the Charity to support the charitable activities.

Holiday camps - funds are applied for the purpose of running programmes for young people during school holidays.

Funded places (Bursaries, Foundation Sessions) - funds are applied for the purpose of funding young people to attend our programmes.

Refugee programmes - funds are applied for the purpose of running our refugee programes.

Girls football league programme - funds are applied for the running of the a league for girls.

School sessions - funds are applied for the purpose of funding school sessions.

Event - funds are applied for the purpose of funding events run by Bloomsbury.

Pilot project (Engagement & Hard to Reach) - funds are applied for the purpose of funding the pilot project targetted programmes.

Staff costs - funds are applied for the purpose of funding staff costs supporting & delivering the range of programmes.

Open sessions - funds applied for the purpose of funding Bloomsbury's 'Open session' programmes.

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DocuSign Envelope ID: C4BDB1B0-A7EC-4926-A3E0-4CBB46C0856ADocuSign Envelope ID: 197CC1E1-99E0-4F2D-A5F6-9AC5A08A5F10

BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

16.
Statement of funds (continued)
Statement of funds - prior year
Unrestricted funds
General Funds
Restricted funds
Funded Places
Engagements & Hard to Reach
Foundation Sessions
Holiday Camps
Sponsorship income
Blind Football
Coach/Workforce Development
Girls Super Leageue
Good for Girls
Open Sessions for Girls
Women's Futsal
Total of funds		 Balance at
1 July 2021
£
98,250
-
-
-
-
-
-
-
-
-
-
-
-
98,250		 Income
£
972,722
9,620
45,833
3,000
225,253
40,000
5,000
5,800
60,000
6,100
4,333
5,000
409,939
1,382,661		 Expenditure
£
(928,384)
-
(24,542)
(1,000)
(215,579)
(40,000)
(5,000)
(5,800)
(60,000)
(6,100)
(4,333)
(5,000)
(367,354)
(1,295,738)		 Balance at
30 June 2022
£
142,588
9,620
21,291
2,000
9,674
-
-
-
-
-
-
-
42,585
185,173

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DocuSign Envelope ID: C4BDB1B0-A7EC-4926-A3E0-4CBB46C0856ADocuSign Envelope ID: 197CC1E1-99E0-4F2D-A5F6-9AC5A08A5F10

BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

17. Summary of funds

Summary of funds - current year

General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds		 Balance at 1
July 2022
£
142,588
42,585
185,173
Balance at
1 July 2021
£
98,250
-
98,250		 Income
£
1,685,028
687,634
2,372,662
Income
£
972,722
409,939
1,382,661		 Expenditure
£
(1,518,955)
(615,395)
(2,134,350)
Expenditure
£
(928,384)
(367,354)
(1,295,738)		 Balance at 30
June 2023
£
308,661
114,824
423,485
Balance at
30 June 2022
£
142,588
42,585
185,173

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2023
£
1,509
523,043
(192,552)
(23,339)
308,661		 Restricted
funds
2023
£
-
114,824
-
-
114,824		 Total
funds
2023
£
1,509
637,867
(192,552)
(23,339)
423,485

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DocuSign Envelope ID: C4BDB1B0-A7EC-4926-A3E0-4CBB46C0856ADocuSign Envelope ID: 197CC1E1-99E0-4F2D-A5F6-9AC5A08A5F10

BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

18. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2022
£
2,940
304,699
(132,551)
(32,500)
142,588		 Restricted
funds
2022
£
-
42,585
-
-
42,585		 Total
funds
2022
£
2,940
347,284
(132,551)
(32,500)
185,173

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease in stocks
Increase in debtors
Increase in creditors
Loss on disposal of fixed assets
Interest on bank loan
Net cash provided by/(used in) operating activities
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2023
£
238,312
1,431
-
(389,946)
60,001
-
1,808
(88,394)
2023
£
167,940
167,940		 2022
£
86,923
1,100
3,732
(44,676)
96,279
7,781
313
151,452
2022
£
267,303
267,303

20. Analysis of cash and cash equivalents

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DocuSign Envelope ID: C4BDB1B0-A7EC-4926-A3E0-4CBB46C0856ADocuSign Envelope ID: 197CC1E1-99E0-4F2D-A5F6-9AC5A08A5F10

BLOOMSBURY FOOTBALL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

21. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1 July
2022
£
267,303
(10,000)
(32,500)
224,803		 Cash flows
£
(99,363)
9,161
-
(90,202)		 Other non-
cash
changes
£
-
(9,161)
9,161
-		 At 30 June
2023
£
167,940
(10,000)
(23,339)
134,601

22. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund.

23. Operating lease commitments

At 30 June 2023 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
44,423
-
44,423		 2022
£
39,000
36,000
75,000

The following lease payments have been recognised as an expense in the Statement of financial activities:

2023 2022
£ £
Operating lease rentals 39,639 33,750

24. Related party transactions

Income in the year from related parties totals £5,400 (2022 - £410). This was received from Trustees and is in relation to fees paid for their children to attend football programmes. Aggregate donations from related parties amounted to £51,000.

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