The National Football Trust Company limited by guarantee Consolidated annual report and financial statements For the period ended 31 March 2022 Company Reglstratlon Number 11535526 Charity Number 1184825
The National Football Trust Company limited by guarantee Contents Period from 1 September 2021 to 31 March 2022 Page Tiustees Annual Report Report of the Auditor Consolidated Statement ol Financial Activities 10 Consolidated Balance Sheet Consolidated Statement ol Cash Flows 12 Charitable Company Ststement of Cash Flows 13 Note5 to the Accounts 14-21
The National Football Trust Company limited by guarantee Trustees, Annual Report Period from 1 September 2021 to 31 March 2022 The Trustees piesent their report and audited con$olidated financial statements of the charity and group for the peiiod end 31 March 2022 which ale also prepared to meet the requirements ft>r a directorts report and accounts for Companies Act purposes. The fi'nancial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document. the Charities Act 2011 and Companies Act 2006 and Acoounting and Reporting by Charities statement of Recommended Practi applitsble to charities pieparing their accounts In accordance wth the Financial Repotting Standard applicable in the UK and Republic ol Ireland published in October 2019. Reference and Administrative Details Charity name The N8tion81 Footb811 Trust Company number 11535526 Charity number 1184825 Registered addres8 Wembley Stadiutn Wembley Park Wembley London HA9 OWS Trustees C Bunting D Gallagher lappointed 23 September 20211 J Kendall (appointed 23 Septembei 20211 K Mills (appointed 23 September 20211 A Parrott (appointed 23 September 20211 C McRoyall (resigned 23 September 20211 A Morton (resigned 23 September 20211 C Piingle (resigned 23 September 20211 J Kilby ISIgned 23 September 20211 S Lockyer (resigned 23 September 20211 Company 8e¢retsry Muckle Secretary Limited Bankers Santander Bank PLC Bride Road Boode Merseyside L30 4GB Auditor Lovewell Blake LLP Chartered Accountants & StatLrtory Auditor Bankside 300 Peachman Way B103dland Business Park Notwch Norfolk NR7 OLB
The National Football Trust Company limited by guarantee Trustees, Annual Report (continued) Period from 1 September 2021 to 31 March 2022 Objective8 and activities The objects of the group are for the benefit of the public generally and. in particular. the inhabitants of England and Wale5' to promote community participation in healthy recreation by providing facilities for the playing of assouation football and other sports capable of improving health, to provide and assist in providing facilities fvr sport. recreation or other le15ure titne occupab.on of Such peisons who have need for such facilities by reason of their youth. age. infinnity or disability, financial hardship. poverty or social and economic circumstanTrs or foi the public 8t1srg8 in the int8re5ts of social w81fare and with th8 object of Improving th8ir conditions of lif8, snd to advance public education, in particular physical education, wth a focu5 on children and young people wth a view to helping children and young people develop and grow to maturity as members of society by such means as the Trustees think fit The Charity lulfils Its objects by providing communities with a great place to play football and other sports and activities, wthin a sale, inclusive, and welcoming environment. The Trust is committed to reinvesting its surplus income back into grassroots football to help Improve the game and make It tnore 5U5tainable. Publie bènèfit statèmènt Th8 Trustees confirm that th8y have cornplied with their duty to hav8 due regard to th8 guidance on public ben8fit published by th8 Charity Commission in exerusing their powers and duties. The public benefit of the charitable company's activities a oudined under'objeetives and activities..
The National Football Trust Company limited by guarantee Trustees, Annual Report (continued) Period from 1 September 2021 to 31 March 2022 Achlevements and Performance Th8 National Footb811 Trust was cr8at8d in S8Ptemb8r 2021 with s vision to allow football to hav8 mor8 r8SPOn5ibility and involv8m8nt in the management of grassroots facilities. The charity was bom out ol the lomier London Football Trust which passed a resolution to change its name and geographical focus to operate nationally. During th8 p8riod. The Nation81 Football Trust has b8com& the 5018 m8mb8r of th8 following thr8e organi5ation5. Leisure United Icharity number 1174371 and Company number 100760041.. The Sundedand Football Trust (Charity number 1193193 and Company number 115559141.. and The Sheffi'eld Football Trust (Charity number 1163900 and Company number 095870641 Leisure United is devoted in its operations to managing facilits'es of the group and currendy operates 10 sites across Sheffield. Liverpool and Sunderfand which together feabjre 28 fv11-size artifiaal grass pitches and four health and rrtness clubs. Th8 charity and L8isui8 Unit8d hav8 a shared cotnrnitment to developing grsssroots football through an op8n and honest partn8rship that is founded on trust and shared suC$S. Together, the partnership is designed to support the development of grassroots football by.. Providing opportunity and affordable access to safe, indusive and welwming facilities.. Using football as a vehicle to tackle Inequalth"es, and A shared commitment to resour and deliver the best possible outcome lor each facility. Our Commitment to each loc81 authority we partner with is to re-invest 100% of all surplus revenue generated by their facilities back into grassroots football In their a8. This helps to maximise the Impact of the original capital investment used to create the facility, as well as helping to make the game more sustainable and less reliant on the public sector. Financial review The results for the period are shown on pages 10 to 21. Income increased significantly due to the formation of the group and the inclusion of Leisure United. through which the charity's facilities are operated. Income wthin Leisure United Increased significantly during the period as a iesult tsf the removal of Covid 19 restriction5 and the expansion of the charity leading to an overall increase in income of 117010. With the increase in activity. expenditure also increased however by a lesser perntage to that of income. This resuhed in a significant surplus being achieved by L8isuie Unitsd. Th8 Sh8ffield Football Trust and The Sund8dand Football Tiust wer8 dorm8nt throughout th8 year. Prlnclpal fundlng sources The prinupal funding source of the group is the income it generates through the facilities it controls. Res•N•$ policy The group aims to establish a six-month reserve 8$ a rirng-fen sum for each loc81 authorty area in which it operates. At the period end the group had free reserves 01 £1,391,80812021.' £7,018) and the charrty had £2,51812021'. £7,018).
The National Football Trust Company limited by guarantee Trustees, Annual Report (continued) Period from 1 September 2021 to 31 March 2022 Plans for the Future The trustees of The Sunderland Football Trust and The Sheffield Football Trust have each taken the decision to wnd up their respective charity and company and transfer the assets of each organisation up to The National Football Trust. This Pro$3 is expected to be completed by 31 March 2023. The charity will establish a Local Advisory Group for each of Sunderland and Sheffield. Each Local Advisory Group will operate under Temis ol Reference provided by the charity which provide delegated powers and responsibilities that will ernab local stakehdders to continue to collaborate and support their local facilities that are under the charity's control. The membership of each Local Advisory Group Is expected to comprise of the relevant Lo1 Authority, County Football Assouation, and the Community Organisation Icharityl of the lotsl professional football Clublsl. This is an exciting time for the charity as it embarks on a period of significant growth. as it expects lo open six new football facilities in 2023 across Newcastle, Wigan. Sheffield and Dagenham. Together, these new facilth.es will offer 11 full-size and 10 small-sided floodlit artifiaal grass prtches and three sites wll feature health and fitness clubs. To support this growth. the charity has held a recruitment for independent trustees and 0 appointments have been made. In 2023. the chsrty plans to iecruit up to a further Iwo independent trustees. wrth a focu5 on irnproving board diversty. The charity is a150 considering appointing ctropted trustees that can bring specialist knowdge, skills and experience to its Board. Structure, Governance and Management The National Football Trust is a giSted charity and company limited by guarantee with no Sha capital. The liability of members in the event of insolv8nt liquidation is limit8d to £10 each. The company was Incorporated on 24 August 2018 and subsequendy obtained charItae status. The charitable company's governing document is its Memorandum and Articles of Association incorporated 24 August 2018. On 23 Sept&mb8r 2021 a resolution was passed to chang8 the name of the chaiity from Th8 London Football Trust to Th8 National Football Trust and also the geographical restrictions from London to being ae to operate nationally. R•ernitm$nt and appointm$nt oltrust•es The number of Trustees shall not be less than two and shall be subjeci to a maximum of Iwelve. The following organisations are ent(ded to nominate Trustees to the charity.. The FA". up to one Trustee Sport England.. up to one Trustee Leisure United. up to one Trustee Local Authority Associated Person.. up to one Trustee The Pietnier League. up to one Trustee Tmstee training and induction On appointm8nt trust8es are provided with." Th8 charity'5 Memorandum 8nd Articles of Association", Key roles in the org8nisation81 structure", Trust88 P8rson Specification.
The National Football Trust Company limited by guarantee Trustees, Annual Report (continuedl Period from 1 September 2021 to 31 March 2022 Rlsk Management The trustees acknowledge the Charrty Commission's comMenda.0n for them to undertake a review of the major risks to which the charity is exposed. The Trustees have undertaken a full risk assessment during the year and as a result the Trustees have identified the following risks to the charity. Pipeline hubs being d81ayed Rising cost of energy Organisational Struetur• and R•lated Pa"•$ The current organisational Structu and related parties of the National Footb211 Trust is summarised by the following diagram. Tho NatSonal Football Trust (Charity nutnber 1184825 arbd Company number 115355261 Lel8ur8 Unlted Charity number 11743718nd Compan umber 100760041 Tho Sh8ffl8ld Football Trust (Charrty number 1183900 and Company number 0958714) Th8 Sund8rfand Football Trust Charity numbèr." 1193193 and Comp8ny number.. 115559141 L8fjsure Unlted Ent8rprlses Ltd IComp8ny nLJmber 132969431 Keymanagement remuneratlon pollcy The charity itself has no employees as all employees ol the group are employed by Leisu United. The trustees ol Leisu United set the manag&m8nt tsams s81aries in line with industry 8XP8Ct8tIOns. The s818ries of th8 t88ms ar8 reviewed annually by th8 truste8s of Leisur8 United. Fundraising A5 r8flect8d within the financial statem8nts, th8 group does not p8tticip8t8 in fundiaising activit18s. How8V8r, should any fundraising be carried out. the charity is compliant with the reQuirnents of the Fundraising Regulatorfs voluntary gulatIOn sd)eme and the CcKle ol Fundraising Pr8ctic8. In 8ddition. fundraising would not engage directly with vulner8ble p80ple and the public. During 2021122 the group did not work with any professional fundraisers or commeraal partlClP2tors. the were no Instan$ ol failure to comply with the above schemes. and no mmplaints were received regarding the group'$ fundraising activities.
The National Football Trust Company limited Ly guarnntee Tru8to08' Annual Roport {continiied} Perlod from 1 S¢ptemb+r 20Y1 to 31 V.ai'Gh 2022 sto•ni 01 Tr1. R4$115tlfj The TNst885 (WI are a190 direc1 of Tho National Fojtball Twu$t for Ihe wrpos•s of company l•vl arg re5J$4• lor pr•pariNJ thè Trust••s' Annual Rert and lh8 financial staknnenls in 4ccOrda with •pF4iet48 Iw Unit•Y Kitydun Accountlry Standards (United rydcffi G•nwAny Acc4ptsd AtrKunt PractKel. Comp•ty 14w r•gulrg6 thè TN¢teeg to propar¢ fin91 •tolornents for •ach finano•l yoar. whKh 9e 0 ond f•r of -tale ol aff8ir¥ ol the ¢haritab company and thè grwp )rJ Df the IrKcffllThJ resources aThJ aFplicaUon of TL. kncorne ewdlture. ofth• chantsblg ¢omF4ny and t 9roupfor that pèrttrj. In pr8parkng thesg f"81 slatqments. Trustees arg reqLW8d lo.. lèk8ct siilabb ocwjnbng 8nd IPn ar¢ty thorn co1$18n1.' csew the m•thtsJs arKI In thè Charthe& SORP 2019 IFRS 1021." make juthjemènts #Try estsrnatos that ar• r•asor and pntyJ8nL •iats Wther aw1¢ab UK rxtyJntir#J Standards h8% b¢gn fokned, Jolto wy mJtgri•l (knp•luw dc)wA 8nd •wLqin•J in th8 financial stst¢menlS'. and preparB the financlal StatenlS on thè goiThJ basi& unknK8 it l& rnsum• thAttha ch•ttabl8 conyAny %Thl group will eonbnu• in ¢Fwation. Th• TfUSI #re resp18 for keephg adequate accwrrtlry reccrfds that dfjsdos• wfth reasonable acoJacy at ary Ome th• flnAndal of th• charitsbkn company and th• group ar •nalylè IMM to èThsur8 that thg finawal ststsrrents compty wth the CrynPan Act 2(. TW ar• 01$0 rnspm8lb ffjr sawroirg IM Assèts ¢h•)T8t ¢tynp8ny D)¢ grP •)a yea80nab s fei prthents.on and delectlon ol frats and otlw irregulariib5. In so far as th8 Trustees are aware.. Ur• 1$ no rbvant aj11 information Qlwhich ¢h¥rilobkn ¢¢mMny8 •udilor Is waware,. gTrJ If Tw$tees laken all sttys that Ihty ougm to hw• tak•Tr to the•1¥ awaK• ¢4 any tvknv•t a¥Jll hrfonnatits) and lo es1 trt th• ll5 awar• rfTh•i lnfornio1¢. E¥h of th8 pernons who 1$ a trust•e •1 dale olawwoval ¢flNs rep3rtcor¢frn that . In so far ¥s th¥y ar• are. ther• * no rebvarn ajrt irrforma)"on Ofwluc Ihe groupts I110r Is ¥0r0.. ' Itw have en ali stepB that tw ouyht tv os o tru¥tsp to tnokv IlwTweh5 of any rfevant al11 llffomwtson and to oslat4h that th8 gwwp'$ audiior is #Wa ol Ihat Inlcimabon. alitOr 1$ deernd lo be¢n (&apwnted in 467 of ¢an15 Small cornpary pro110 s r•pJrt has been prep•r¢d In accry0•n wlth IIK ipKial lor smo P4rt 15 ol the Compths A¢t 2rth. Sj w L*haWof TnAtets on 21 March 2023. James Kendall Ttuslee
The National Football Trust Company limited by guarantee Independent Auditovs Report to the members and trustees of The National Football Trust Period from 1 September 2021 to 31 March 2022 We have audited the financial statements ol The National Footbsll Trust (the 'Parent Charitable Companll and its subsidiaries Ithe 'Group'l for the period ended 31 March 2022 which comprise Group Statement of Financial Activities. the Group and the Parent Charitable Company Balants Sheet, the Group and Parent Charitable Company Cash Flow ststement and notes to the financial statements, including a summary of significant accounting policies. The financial porting framework that has been applied in their preparation is applicable law and United Kingdorn Accounb"ng Standards, Including Financial Repotting Stsndsrd 102 The Financial Repotting Standard applicable In the UK and Republic of Iland Iunited Kingdom Generally Apted Accounting Practi1. Opinion on financial statements In our opinion, the financial statements. give a true and lair view of the state of the group's and the parent charitable company's affairs as at 31 March 2022, and of the group's incoming resources 8nd application of resources, including its income 8nd expenditure. for the period then ended.. have be8n properly prepared in accordanc8 with Unit8d Kingdom Gen&rally Acc8Pted Accounting Practice,. and have been prepa in accordance with the wuirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance wth International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We sre independent of the group and parent charitable cornpany in accordance with the ethical iequirement5 that ale relevant to our audit ol the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethic81 spOnSibl11t1es in accordance wth th8se requir8ment5. W8 b8li8ve that the audit evidence w8 have obtained is sufficient and 8ppropriste to provid8 a bs515 for our opinion. Conclusions rèlating to going eone•rn In auditing the financial statements, we have concluded that the trustees, use ol the going conrn basis ol accounting in the preparation of th8 financial 5tatsrnents is appropiiat8. Based on the work we have perfomied, we have not identified any material uncertainties lating to events or conditions that. individually or collectiV81y. may cast significant doubt on the charity'5 ability to continu8 as 8 going concern for a p&riod of at least Iwdve months from when the financial statements are authorised lor issue. Our SponsIbl11.es and the responsibilities of the trustees with respect to going cOnM are described In the relevant sections ol this report. Other inforniation The trustees are responsible fvr the other information. The other infOa"0n comprises the Information induded in the ttustees. annusl report. other than the financial statements and our auditor's port thereon. Our opinion on the financial statements does not cover the 0th8r Information and, except to the extent othetW158 8xplicitly stated In our 18POrt, W8 do not express 8ny form of assurance conclusion thereon. In connection with our audit of the financial ststements. our responsibility is to read the other informats'on and. in doing so. consider whether the other infottnstion IS Tnaterially incon515tent with the financial 5tatetnents or our knedge obtained in the audit or otherwise appears to be materially misstated. If we identify such rnalerial inconsistencies or 8PP8rent rnalerial rnisslatemenls. we are required to determine whether there Is a mat81ial misstatement In th8 financial statem8nts or a material m15Statem8nt of the oth8r Infotmstion. If, based on the work we have performed, we condude that the is a materi81 rnisslatement of this other infonnalion, we are required to report that fact. We have nothing to report in th15 regard
The National Football Trust Company limited by guarantee Independent Auditorfs Report to the members and trustees of The National Football Trust (continued) Period from 1 September 2021 to 31 March 2022 Opinions on othèr mattèrs proscribèd by thè Compania$ Aet 2006 In our opinion, based on the worf( undertaken in the course of the audit.. the information given in the trustees, report lincorporating the directors, report) for the financial period for which the fi'nancial statetnents are prepared is consistent wth the financial statetnents". and th8 dir8Ctors' report has be8n pr8par8d in accordanc8 Wth applicab18 18gal requir8ments. Matters on which we are required to report by 8xc8ption In th8 light of our know18dg8 and understanding of the group 8nd p8rent charitab18 mmp8ny and its environm8nt obtained in the course of the audit, we have not Identified material misstatements In the directors. Eport. We have nothing to port In respect of the following matters In rtlation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion.. adequate and suffiaent accounting records hsve not been kept by the paient charitable company, 01 tumS adequate for our audit have not been reiVed from branches not visited by us.. or the parent charitable company's fi'nancial statements are not in agreement with the awounting records and retums.. or C8rt8in disclosur8s of directors, remun8r8tlOn SP8cified by law ar8 not made.. or W8 hav8 not received 811 the information and &xplanatlOnS W8 requir8 for our audit. the trustees were not entitled to prepare the financial st8tements in 8ccOrd8n( with the small companies, regime and take advantage ol the small companies. exemptions in preparing the directors, report and from the requirement to prepsre a strategic report. Responslbllltles of trustees As explained more fully in the trustees. responsitiilities statement set out on page 6. the trustees (who are also the directors ol the ch8rtsb18 comp8ny for the purpos8s of cornpany lawl are responsible for th8 pr8par8tion of th8 financi81 statem8nts and for b8ing s8tisfied that they give a true and fair view, and lor such intemal control as the trustees determine is ne$sary to enable the pParatIOn ol Iinanaal ststem8nts that ar& fr8e from mat8rial misstatement, wheth&r due to fraud or error. In preparing the financial statements. the trustees are sponsible for assessing the group's and parent charitaije company's ability to continue 35 a going concern. disclosing, as applicsble, matters ielated to going concem and u51ng the going concern basis of accounb.ng unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realists'c alternative but to do so.
The National Football Trust Company limited by guarantee Independent Auditorfs Report to the members and trustees of The National Football Trust (continued) Period from 1 September 2021 to 31 March 2022 Auditor's responsibilities for the audit of the financial statements We hsve been appointed under the Cornpanies Act 2006 and Section 151 of the Chariti8s Act 2011 and 18POrt in accordance Wth the58 acts. Our obiectiV8s sre to obtain r8850nable assurance about whether the financis15tstetnents ss a whole ar8 fre8 frorn material misststernent, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuran is a high level of assurance, but 15 not a guar8nt8e th8t an 8udit conduct8d in 8ccord8nce with ISAS IUKI will 81ways d8tect 8 material misst8t8rnent wh8n it exists. Misstatements can arise from fraud or error and are eonsidertd material If. individually or In the aggregate, they could asonablY be expected to influence the 8conomic decisions of users taken on th8 basis of th8se fin8ncial statements. Irregularities, induding fraud, are Instances of non-c0tnpl18n with laws and regulations. We design procedure5 in line with our responsibilities. outlined above, to detect material misstatements in respect ol irregul8rities, including fraud. The extent to ¥vhich our PIOC8dur8s are Capab of d8t8Cting irr8gularitl8s. induding fiaud is d8tailed b810w". Enquiry of management and those charged wth governan to confirm there a no instan$ of fraud or non-compliance with laws and iegulations. Reviewing journal 8nt118S to 8nsur8 th8y ar8 appiopriat8 and do not indicat8 manag8m8nt OV8rrid8. Performing audit work over the risk of rnanagetnent override of contrds, including testing of joumsl entries and other sdjustments for appropriateness, evaluating the rationale of significant transactions outside the nomal course of activities and reviewing awounts estimates for bias. Review of disclosures within the financial statements and vouching these to supporting documentation to ensu Complian with 8pplicable18WS and regulations. Because of the inherent limitations ol an audit. there is a risk that we will not detect all irregularities. induding those leading to a material rnis5tstem8nt in the financi81 stat8m8nt5 or non-complianc8 th rulation. This risk increases th8 more that complianc8 with a 18w or regulation is removed from the events and transactions flected in the financial statements, as we will be less likdy to become aware ol instanc8s of non-compliance. Th8 risk is also greatei iegarding irregularit18s occurring due to fraud rather th8n 8rror. as fraud involves Intents"onal Conalment, forgery, collusion, omission or misrepSerntatlon. A further de5CriPtion of our respon51bilthe5 is available on the FRC'5 website at https."lkn.fraorg.uklauditO1slaudit-assuran19udlt0[4- responsibilities-for-the-8udit-ol-the-fildescription-ol-the-8uditort/oE2%80Yo99s-responsibilities-for. This description fomis part ol our auditorfs r8POrt. We comtnunicate with those charged wth govemanTr iegaiding, smount other matters, the panned scope and timing of the audit and significant Budit findings, including any significant deficiencies in internal control that we identify during out audit Use of our report This report 1$ made solely to the charitable company's members. as a body. in aWOrdan with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company's trustees. as a body, In accordants with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charitable company's members and its Iruslees those matters we ale required to State to them In sn auditor's report and foi no other purpose. To the fullest extent permitted by law, we do not accept or assume SponsIbl11ty to anyone other than the charitable company and the charitable company's rnembers as a body and the charitable cornpany's trustee5 85 s body, for our audit work, for this report, or foi the opinions we hsve formed. Mark Proctor FCA DChA (Senior Ststutory Auditor) For and on behalf of Lovewell Blske LLP Chartered Accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 OLB 2310312023
The National Football Trust Company limited by guarantee Consolidated Statement of Financial Activities (incorporating income and expenditure account) Period from 1 September 2021 to 31 March 2022 Period from 1Sep21to 31 Mar 22 Totsl Year to 31 Aug 21 Totsl Notes Unrestricted Restricted FundB Funds Income and endowments from.. Charitable activities other trading activities Other income 1,991,671 672.673 1,096,034 1,991,671 672.673 1,096,034 Total income and endowments 3,760,379 3,760,379 Exp8nditur• on.. Raising funds Charitable activities 309.565 2,066,022 309.565 2,066,022 720 Totsl expenditure 2,375,587 2,375,587 720 Net movement in funds and net incomellexpenditLJrel for the year Rèconciliation of funds= 1,384,792 1,384,792 17201 Total funds brought forward 7.018 7.018 7.738 Total funds carried forward 16 1,391.810 1,391,810 7,018 All incorne and expenditure derive from continuing a1VIlle5. The ststemenl of financial activities indudes 811 gains and losses recognised during the year. The notes sel out on pages 14- 21 form an integr81 part of the accounts 10
The National Football Trnst Company Ilmited by guarantse Consolldatod Balance Sheet Perlod onded 31 March 2022 31 March 2022 31 Auwmt 2021 Ch•rty 12 13 14 7.757 127.8C 1.639,996 Cash at bonk arKI kn h8ThJ 7.ne Cuvv•rt Li••>lNII•• 7,736 1.775,5S3 Cr•dbtorn'. •mount8 fallthg d ithin ong >or 15 (a,2201 13e3,7451 N•t¢unM¢•H•t• 2,518 1,391,808 7.018 Z.518 1,391.810 7,018 Fund• ofth• ehaAty 16 2,518 1,391.810 7,018 2,518 1.391,810 7,018 ¢latwn•nta Ytr• appro%d •uthorId for by the Trus on th• arJ •[• r•d fm tslrbeh•ii w. James Ken Tru•t 21 March 2023 CttAyty rHNr* 11S35Y2fj Th• not••e•tout on p•o•1 14- 21 •n Intsqr41 p•rt•fth• a¢cn
The National Football Trust Company limited by guarantee Consolidated statement of cash flows Period from 1 September 2021 to 31 March 2022 Period frorn 1Sep21to 31 Mar 22 Year to 31 Aug 21 Notes Cash flows from operating activities Net income for the year 1,384,792 Adjustments for." Reserves acquired on formation of group Cash introduced on formation of group 1995.2931 1,135,663 Changes in.. Decrease in debtors Increase in creditors Increase in stock 14,253 104,453 13,8721 Net cash from operating activities 1,639,996 Net decrease in cash and cash equivalents 1.639.996 Cash and cash equivalents at 1 September 2021 Cash and cash equivalents at 31 March 2022 17 1,639,996 Cash and cash 4uival•nts eonsist of= Cash al bank and In hand 1,639,996 ash and cash equivalents at 31 March 2022 1.639,996 The notes set out on pages 14- 21 form an integral part ofthe accounts 12
The National Football Trust Company limited by guarantee Charitable Company Statement of cash flows Period from 1 September 2021 to 31 March 2022 Year to 31 Aug 21 2022 Cash flows from operating activiti•s Nel expenditure for the year 14.5001 {7201 Chang8S in.. Increaselldecreasel in creditors 4,500 11,447) Net cash from operatlng actlvltles 12,1671 Net decrease in cash and cash equivalents 12.16n Cash and cash 4uival•nts at 1 Septèmber 2021 7,738 9,905 Cash and cash equivalents at 31 March 2022 7.738 7.738 Cash and cash equivalents consist of= Cash at bank and in hand 7.738 7,738 Cash and cash equivalents at 31 March 2022 7.738 7,738 The notes set out on pages 14- 21 form an integral part ol the accounts 13
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 1 General Informatlon The charity is a public benefit entity and a piivate company limited by guarantee. registered In England and Wales and a registered charity in England and Wales. The address of the registered office is Wembley Stadium, Wembley Park, Wembley, London, HA9 ows. 2 Ststement of compliance The charity constitutes a public benefi't entty as defined by FRS 102. The financial statements have been prepared in accord8n th Accounting and Reporting by Char"e$.. Statement of Recommended PractiTr 3pplic3ble to ch81ities preparing their acwunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued In October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021, the Charrties Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 3 Aecounting polieiès The principal accounting policies adopted, judgements and key SoUrS of estimation unTrrtainty in the preparation of the financial statements 8re as follows. These acoounts.ng policjes have been applied consistently Ihioughout the period. lal Basls of accountlng The financial statements have been prepared on the historical cost basis The financial staternents are prepared In 5teding. which 15 the function81 currency of the charty. Ibl Fund a¢¢ounting Unrestricted funds are available lor use at the discretion of the trustees to further any of the charity's purposes. Icl Going concern The financial statements have been prepared on s going concern basis as the tiustees bdieve that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure lor the 12 months from aulhorising these fv'nancial statements. The budgeted income and expenditure is sufficient with the levd ol reserrfes lor the charity be to able to continue 35 8 going cOnrn. Idl In¢ome All income is included in the statement ol financial activits.es wthen entiuement has passed to the charity, it is probable that economic benefi'ts associated wth the transaction will flow to the charity and the amount can be reliably measured. The following sp1¢ policies are applied to particular categories of inwrne. Income from trading activities includes Income earned from activities to raise funds for the charity and Is recognised when entiuement has occurred. Incorne from charitable activities Includes incorne earned frorn charitable activib.es and Is iecognised when entillernent has Occur. Incorne from grants, where related to performance and specifi'c deliverables, are accounted for as the charity earns the right to consideration by its performance. lel Expendoture Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it rdates." expenditure on charitable activities indudes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support Costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure indudes all expenditure that is neither related to raising funds lor the charity nor part ol its expenditure on charitable activities, All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to 8 single activity are allocated direcdy to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 14
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 3 Accounting policies continued lfj Operating lea5e5 Lease payments are recognised as an expen8e over the lease tenn on a straht-1Ine basis. The aggregate benefit of lease incentives is recogni88d 88 a reduction to expense over the ase t8mi, on a straight-lin8 ba81S. Igl Stocks Stocks are measured at the lower of Cost and estimated selling price $$ costs lo complete and sell. Cost indudes all costs of purchase. costs of conversion and othèr costs incurred in bringing the stock lo ils pr&senl location and condition. Ihl Financial instruments A financial asset or a finanual liability is recognised onty when the entity becomes a party to the contractual provisions of the instrument Basi¢ financial instruments a initially recognised al the amount ceIV3e or payable induding any related transaction costs. nless the arrangement ¢onslitul&s a financing transa¢tion, where It is re¢ognised al the present value of the future payments discounted at a market r8le of interest for a similar debt instrument. Curnt assets and crn1 liabilities are subsequenly measured at the cash or other consideotion expected to be paid or 1Ve and not dis¢oJnted. lil Consolidation The financial slal&ments consolidate the results from the dale of formation of the group and its wholly owned subsidiaries. Leisure Unil&d. The Sheffield Football Trust and The Sund&rland Football Trust on a line by line basis. A separate Statement of Financial Activili8s of Income and Exp8nditure account, for the charity ils8lf is not presentsd b8cause th8 charity has tsken advantag? of the exemption of Section 408 of the Companies Act 2006.
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 Period from 1Sep21to 31 Mar 22 Year to 31 Aug 21 4 Incomè from eharitablè aetiviti•s Pitch income Gym memberships Education income 1,515,385 297,237 179,050 1,991,671 During the period ended 31 March 2022 £Nil 12021.. £Nill income from charitable activities was attributable to restricted fund5. During the period ended 31 March 2022 £44,420 was received from government or public bodies. PerSod from 1Sep21to 31 Mar 22 Year to 31 Aug 21 S Income from other tradlng actlvltles alering income Other trading incorne 635,471 37,202 672,673 During the period ended 31 March 2022 tNil 12021.. £Nill incotne from other trading activities W8S 8ttribut8ble to restricted fvnds. Perlod from 1Sep21to 31 Mar 22 Year to 31 Aug 21 6 Other income Other income Reserves on formation of group 100,742 995,293 1,096,034 During the period ended 31 March 2022 £Nil12021". £Nill othei income was attributable to restricted funds. 16
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 Period from 1Sep21to 31 Mar 22 Year to 31 Aug 21 7 Costs of other trading activities Catering costs 309,565 Period from 1Sèp21to 31 Mar 22 Year to 31 Aug 21 8 Charitable activities Wages and salaries Qper8ting leases Rates and water Light and heat Repairs and rnaintenan Insurance Equipment purchase Telephone Other office costs Uniform Licences and subscriptions Advertising and marketing Support services Bank charges Accountancy fees G0Veman costs 1,292,471 16,773 35,738 189,551 107,352 14,2891 32,042 11,179 61,818 1,158 51,911 42,408 156.569 47,936 720 23,405 2,066,022 720 During the period ended 31 March 2022 £Nil {2021'. £Nill expenditure from charitable activities was attributable to restricted funds. Period from 1Sep21to 31 Mar 22 Year lo 31 Aug 21 Analysis of Governance c08t¥ Audit fees- The National Football Trust Audit fees- Leisure United Independent examination fees- subsidiaries 4,500 16,294 2,611 720 23.405 720 9 Aud5t0$ remuneratlon The auditor's remuneration amounts to an audit fee of £20,79412021'. £Nill and other professional services of £Nil 12021.. £Nill. 17
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 10 Staff co8t8 All staff ale employed by Leisure United, there were no employees in The N8tion81 Footb811 Trust during the period. Period from 1 Sep 21 to 31 Mar 22 Year lo 31 Aug 21 The aggregate payroll costs were.. Wages and salaries Social security sts Pension contributions 2,075,082 118.645 59,590 2,253.317 W8ge5 and Salaries pre-fortnation of group 1981,8321 1,271,485 Self ernployed instructors 20,986 1,292,471 Particulars of employees.. The average nutnber of staff employed by the Leisuie United during the peiiod amounted lo 15512021.. 1391. Period from 1 Sep 21 to 31 Mar 22 Year to 31 Aug 21 The number of employees that received emoluments in the following bands.. £70,000 - £79.999 £80,0(KJ - £89,999 £150,000- £159,999 The key management personnel of Leisure United comprise of the Managing Director, Director of Operations, National Operations Manager, Executive Consultant and Head of Finance. The total employee benefits of the key rnanagement personnel of the Leisure United were £327.826 12021.. £Nill. The Executive Consultant also provided management consultancy throughout the year receiving fees in total of £7,31012021'. £Nill, detailed on note 20. W8ge5 and sa18ries in¢lude 51alulory redundan pay of £Nil12021.. £Nill. 11 Trustee Remuneration The Trustees were not entided to or received any remuneration. No expenses have been reimbursed by the Trust to the Trustees. 18
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 31 March 2022 Charity Group 31 August 2021 Charity Group 12 Investments Subsidiary undertakings.. Leisure United Enterprises Limited is a wholly owned subsidiary of Leisure United. The company was dormant at the period end date. The Sheffield Football Trust Trading Cornpany Litniled is a wholly owned Subsidiary of The Sheffield Football Trust. The company was dormant at the period end date and was dissolved on 25 October 2022. The National Football Trust is the sole member of charitable companies Leisure United, The Sheffield Football Trust and The Sunderfand Foolb811 Trust. 31 Mah 2022 Charity Group 31 Augu¥t 2021 Charity Group 13 Stock8 Items for res8le 7,757 Stock held al the year end represents food held for resale. 31 March 2022 Charity Group 31 August 2021 Charhty Group 14 Debtors Trade debtors Prepayments and accrued income Other debtors 11.939 90,692 25.169 127,800 31 Mar¢h 2022 Charity Group 31 August 2021 Charity Group 15 Craditors.. Amounts falling du• within on• yèar Trade creditors Amounts owed to group undertakings Tax and social security Accruals and deferred income Other creditors 720 86,902 81,083 200,749 15,029 4,500 720 5,220 383,745 720 Deferred income Deferred income brought fotward Income leaSed in the year Income deferied in the year 16,8 Defeired income carried forvrdrd 16.890 Deferred income relates to membership fees received for future periods. 19
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 16 Funds Reserves acquired on formation Group At 1 September 2021 Income Expenditure At 31 March 2022 Period ended 31 March 2022 Unrestrlcted funds General funds 2.765,086 12.375,5871 1.002,311 1.391.810 Reserves acqui on formation charity At 1 September 2021 Income Expenditure At 31 March 2022 Perlod ended 31 March 2022 Unrestrlcted funds General funds 7,018 14,5001 2,518 Reserves a¢qulred on forrnatio Charlty onty At 1 September 2020 Income Expendlture At 31 August 2021 Year ended 31 August 2021 Unrestricted funds General funds 720 Fund5 are rgpres8ntsd by the following a5s8ts- As at 31 March 2022 UnStricte Funds 2022 Totsl Group Investments Current assets Creditors '. Due wthin one year 1.775,553 1383,7451 1,775,553 1383.7451 1.391,810 1.391,810 As at 31 March 2022 Unrestricte Funds 2022 Totsl Charlty Current assets Creditors . Due wthin one year 7,738 15,2201 7.738 15,2201 2,518 2.518 Year to 31 Aug 21 Totsl As at 31 August 2021 Unrestrictsd Fund$ Charity only Current assets Creditors '. Du8 Wthin one y8ar 7,738 17201 7,018 20
The National Football Trust Company limited by guarantee Notes to the Accounts Period from 1 September 2021 to 31 March 2022 17 Analysis of changes in net debt At 1 September 2021 Cash flows At 31 March 2022 Cash Debt falling due within one year 1,639,996 1.639,996 Total 1,639,996 1,639,996 18 Company limited by guarantee The Trust is a company limited by guarantee. Each mernber of the company undertakes to contribute such amount (not exceeding £11 as may be required in the event of winding up. 19 Results of The National Football Trust During the year, the charity incurred net expenditure of £4,50012021'. net expenditure of £7201. The charity is not required to produce their own Statement of Financial Activities because ol the exemption provision in Section 408 of the Cornp8nies Act 2006. 20 Related party transactions During the period the following related party tr8n88lonS were undertaken.. The group received administration and managernent support in Leisure United from SLT Enterprises Limited. SLT Enterprises Limited was part of the SLT Group, ol which Mr Stephen Ardley is a Trustee ol both Leisure United and SLT Group. Period from 1Sep21to 31 Mar 22 Year to 31 Aug 21 SLT Enterprises Limited Adrninislralion and tn8nagement support 22,214 Adrninistration and management support paid in advance Iservice not received due to liquidation) 66,641 Amounts owing to SLT Enterprises Limited at the year end Sèntinel Lèisurè Trust (subsidiary of SLT Group) Bad debt written off 122,9301 Amounts owing to Leisure United at the year end Th8 group ieceives administration and tnanagement support from DGEMS Ltd of which Mi D J Gallagher is 8 director. During the period the following related party transactions were undertaken.. DGEMS Ltd Adrninislralion and m8nagement support 10,500 Amounts owing to DGEMS Ltd at the year end 4,500 21