## **The National Football Trust**
## **Company limited by guarantee**
**Consolidated annual report and financial statements For the year ended 31 March 2025**
**Company Registration Number 11535526**
**Charity Number 1184825**
**The National Football Trust**
## **Company limited by guarantee**
## **Contents**
## **Year ended 31 March 2025**
||**Page**|
|---|---|
|Trustees Annual Report (including Directors' Report)|1 - 9|
|Report of the Auditor|10 - 12|
|Consolidated Statement of Financial Activities|13|
|Consolidated Balance Sheet|14|
|Consolidated Statement of Cash Flows|15|
|Charitable Company Statement of Cash Flows|16|
|Notes to the Accounts|17 - 27|
## **The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report)**
## **Year ended 31 March 2025**
The Trustees present their report and audited consolidated financial statements of the charity and group for the period end 31 March 2025 which are also prepared to meet the requirements for a director's report and accounts for Companies Act purposes.
The financial 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 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 published in October 2019.
## **Reference and Administrative Details**
|**Charity name**|The National Football Trust|
|---|---|
|**Company number**|11535526|
|**Charity number**|1184825|
|**Registered address**|Wembley Stadium|
||Wembley Park|
||Wembley|
||London|
||HA9 0WS|
|**Trustees**|C Bunting (London Borough of Ealing Council) (resigned 24 June 2025)|
||D Gallagher (Leisure United)|
||J Kendall (The Football Association)|
||K Mills (Sport England)|
||A Parrott (Premier League)|
|**Independent Trustees**|H James (resigned 21 January 2025)|
||P Williamson|
||K Shah|
||P Shores|
||V French (appointed 24 June 2025)|
||N Russell (appointed 24 June 2025)|
|**Company secretary**|Muckle Secretary Limited|
|**Bankers**|Santander Bank PLC|
||Bride Road Bootle|
||Merseyside|
||L30 4GB|
||Cambridge & Counties Bank Limited|
||Charnwood Court New Walk|
||Leicester|
||LE1 6TE|
|**Auditor**|Lovewell Blake LLP|
||Chartered Accountants & Statutory Auditor|
||Bankside 300|
||Peachman Way|
||Broadland Business Park|
||Norwich|
||NR7 0LB|
1
## **The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Objectives and activities**
The objects of the charity are for the benefit of the public generally and, in particular, the inhabitants of England and Wales:
- to promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health;
- to provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disability, financial hardship, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and
- to advance public education, in particular physical education, with a focus on children and young people with 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 fulfils its objects by providing communities with the opportunity to play football and take part in other sports and activities, within a safe, inclusive, and welcoming environment.
Together, the Charity and its subsidiary charity, Leisure United have a shared commitment to develop grassroots football through an open and honest partnership that is founded on trust and shared success. Together, the partnership aims to support the development of grassroots football by:
- providing opportunity and affordable access to safe, inclusive and welcoming facilities;
- using football as a vehicle to tackle inequalities; and
- resource and deliver the best possible outcome for each facility.
Under the National Football Trust model, surplus income generated in each local area (town/city) must be reinvested locally within that territory and in line with the criteria set out in the Trust's Surplus and Investment Policy. 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.
## **Public benefit statement**
The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission, in exercising their powers and duties. The public benefit of the group's activities are outlined under 'Objectives and activities'.
2
**The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Achievements and Performance (including strategic report)**
In the previous 12 months the reach of the Charity grew significantly with five new openings, increasing the number of sites under the Charity’s control to 18. With a stable number of sites in the year leading to 31 March 2025, the Charity was able to focus on activating its inaugural five-year strategy; ‘Hubs of the Community’. The Strategy has five key objectives and key achievements during the year include:
**----- Start of picture text -----**
Objective Key activity
Ensure Sustainability New LED floodlights were installed across 28 artificial grass pitches in Sheffield, Liverpool and Sunderland –
supporting financial sustainability through reduced energy consumption and maintenance, and environmental
sustainability by reducing our carbon footprint.
High Quality Facilities The group secured £1,334,022 grant funding to refurbish the artificial grass pitches and pavilion at Sandwell’s
Wednesbury Hub, including a full re-fit of its gym and café. Leisure United successfully managed the project and
re-opened the facility in October 2025.
Sheffield’s Westfield gym and studio were refurbished with new health and fitness equipment, flooring and
lighting.
The café areas of Sheffield’s Graves, Thorncliffe and Westfield hubs were refurbished with new furniture, floor
coverings, and redecoration.
Prioritise Women & Girls Significant work took place during the year to baseline our current women and girls’ football usage and set
ambitious growth targets for the next five years.
Derby Racecourse reached its first anniversary of operation, setting the benchmark of equal access with each
Saturday now dedicated to hosting women and girls matches with 115 games each week from mini-soccer to
open age groups.
Strengthen Communities Leisure United created a new Development directorate and recruited a Community Engagement Team focussed
on using our hubs to tackle inequalities and support local communities.
Support Local Football Over the 2024-25 season, the 18 hubs hosted over 22,000 affiliated football matches from mini-soccer to adult
age groups.
Leisure United entered into partnership with Liverpool County Football Association to create a secondment
delivering football development across Liverpool’s four hubs.
Leisure United entered into a multi-year partnership with Essex County Football Association to create a new 0.5
FTE post focussed on developing community-led activities at The Bobby Moore Sports Hub in Barking and
Dagenham.
**----- End of picture text -----**
The Trustees are extremely grateful for the significant funding grants the group was awarded during the year from the Football Foundation, Sheffield City Council, Sunderland City Council, Sandwell Metropolitan Borough Council and Sport England.
This period of site stability allowed for consolidation as the Charity strengthened its systems and controls in readiness for the next wave of new sites planned for 2026. A Finance, Risk and Audit Committee was established to support effective governance, risk management and control across the Group’s activities and to provide oversight and assurance in general terms for the Board of Trustees.
Following highly competitive recruitment processes, in June 2025, Nick Russell was appointed as an Independent Trustee and Victoria French was appointed as the Local Authority associated Trustee. We are delighted to have appointed both Nick and Victoria who bring valuable knowledge, skills and experience to the Board rooted in a passion for community sport and tackling inequalities.
## **Financial review**
The results for the period are shown on pages 13 to 27.
Income increased significantly due to the continued expansion of Leisure United with all 18 sites being fully operational throughout the whole year, through which the charity's facilities are operated and the recognition of a full year of income as a group, leading to an overall annual increase in income of 39%.
With the increase in activity, expenditure also increased however by a lesser percentage to that of income. This resulted in a significant surplus before surplus transfers generated by Leisure United.
The Sheffield Football Trust and The Sunderland Football Trust were dissolved during the year.
## _**Principal funding sources**_
The principal funding source of the Charity is the income it generates through the facilities it controls.
3
**The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## _**Reserves policy**_
The Trust operates a reserves policy to help it absorb any setbacks - principally the closure of a site(s), bridge short term fluctuations in income or cost, and help plan for growth.
The reserves policy is reviewed annually and as each new site comes under the Charity’s control. The Charity’s reserve level is currently set at three months of operating costs. This provides sufficient unrestricted funds to sustain ordinary activity, support fluctuations in income and/or costs, and cover essential operations in a particular territory while recovery or exit arrangements are put in place.
The Trust holds designated funds for key liabilities such as lifecycle replacement of fixtures, fittings and equipment, and artificial grass pitches.
The Trust and Leisure United are not reliant on donations or external revenue funding to support day-to-day activities, the operating cost base is relatively fixed and income is generally highly predictable and reliable in nature. The most significant setback would be an enforced closure of a site(s), resulting in a total loss of income whilst costs remain – predominantly staff and facility-related costs.
At the year end the group had free reserves of £3,512,854 (2024: £2,510,921) and the charity had £1,179,940 (2024: £742,001).
4
**The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Plans for the Future**
Over the next 12 months we expect to embark on unprecedented growth as we take possession and open six new Hubs. The new hubs are located in Wyke (Bradford), Wealden (West Sussex), Billingham (Stockton-on-Tees), Woodhall and Green Park (Leeds) and Wythenshawe (Manchester). Each facility is rooted in supporting local football, with 17 artificial grass pitches in total – representing a 29% increase in our playing stock. Supported by impressive pavilion building’s, the sites will also support local communities to enjoy other sports and get active with high quality facilities for athletics, padel, tennis, netball and wheeled sports.
A key focus for the Board of Trustees over the coming period will be to ensure that the Charity and Leisure United is ready and prepared to manage each new site alongside the continued successful operation of the existing portfolio.
The uniqueness of our charity is that through our growing network of Hubs, we can make a wider impact over time by re-investing surpluses into additional facilities and programmes for the local communities we operate in. As part of our new strategy, we have recently activated facility development projects in Sheffield and Liverpool to create additional artificial grass pitches to meet local demand. Over the next 12 months we expect to secure planning permission and use surplus income to apply for external grant funding support for each scheme.
## **Structure, Governance and Management**
The National Football Trust is a registered charity and company limited by guarantee with no share capital. The liability of members in the event of insolvent liquidation is limited to £10 each.
The company was incorporated on 24 August 2018 and subsequently obtained charitable status. The charitable company's governing document is its Memorandum and Articles of Association.
On 23 September 2021 a resolution was passed to change the name of the charity from The London Football Trust to The National Football Trust and also the geographical restrictions from London to being able to operate nationally.
## _**Recruitment and appointment of Trustees**_
The number of Trustees shall not be less than two and shall be subject to a maximum of twelve. The following organisations are entitled 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 Premier League: up to one Trustee
- In addition there shall be at least two but not more than four independent Trustees and there may be appointed up to three additional coopted Trustees.
5
## **The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Structure, Governance and Management (continued)**
## _**Trustee training and induction**_
On appointment Trustees are provided with:
- The charity's Memorandum and Articles of Association;
- **∙** Key roles in the organisational structure;
- Trustee person specification.
Newly appointed Trustees are also encouraged to read publications released by the Charity Commission.
## _**Risk Management**_
The Trustees acknowledge the Charity Commission's recommendation for them to evaluate the major risks to which the group is exposed. The Trustees maintain a strategic risk register which is reviewed on a quarterly basis. The most significant risks identified by the Charity
**----- Start of picture text -----**
Risk Risk Management Strategy
Employment costs Increasing facility utilisation, seeking new income streams, and the sensitive application of pricing increases.
As above, alongside applying robust facility management practices, forward purchasing energy to ensure
Utility costs affordability and reduce risk to external events affecting supply costs and investment in technologies that
reduce utility costs, such as LED lighting and solar photovoltaic panels.
Loss of income due to
Applying sensitivity to annual budgets based on historic impact.
weather
Ban on the sale and use Through the Gordon Banks Sports Hub in Sheffield we continue to support the research of the Football
of SBR rubber crumb infill Foundation and other national bodies to trial potential future surfaces and infills for artificial grass pitches.
It is currently uncertain whether the UK will mirror the European Union and adopt the ban on the sale and use of
SBR (Styrene-Butadiene Rubber) infills for artificial turf pitches from 2031.
Organisational Structure and Related Parties
The current organisational structure and related parties of the National Football Trust is summarised by the following diagram.
The National Football Trust
(Charity number 1184825 and
Company number 11535526)
Leisure United The Sheffield Football Trust The Sunderland Football Trust
(Charity number 1174371 and (Charity number 1163900 and (Charity number: 1193193 and
Company number 10076004) Company number 09587064) - Company number: 11555914) -
dissolved 28 May 2024 dissolved 28 May 2024
Key
Leisure United Enterprises Ltd Active
(Company number 13296943) - currently Dormant
dormant Dissolved
**----- End of picture text -----**
## _**Key management remuneration policy**_
The charity itself has no employees as all employees of the group are employed by Leisure United. The Trustees of Leisure United set the management teams' salaries in line with industry expectations. The salaries of the teams are reviewed annually by the Trustees of Leisure United.
6
## **The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Structure, Governance and Management (continued)**
## _**Employment of disabled persons**_
The charitable company is committed to equality of opportunity in all aspects of employment and to ensuring that no individual is
- Recruitment: It is the policy of the charitable company to give full and fair consideration to applications for employment made by disabled persons, having regard to their aptitudes, skills, and abilities.
- Continuing Employment: Where existing employees become disabled during the course of their employment, the charitable company will make every reasonable effort to continue their employment, including making appropriate adjustments to the workplace or duties, and providing suitable alternative employment where practicable.
- Training and Development: The charitable company is committed to the training, career development, and promotion of disabled employees on equal terms with other members of staff, ensuring that they have access to the same opportunities for advancement and professional development.
## _**Employee engagement**_
During the year, the charity continued to strengthen its approach to employee engagement and workforce development through the implementation of the Leisure United People Plan - a key project within our five-year strategy. This plan is designed to ensure our people feel valued, motivated, and empowered to grow within the organisation.
## **(i) Actions taken during the year**
- **(a) Providing employees systematically with information on employee matters of concern**
Communication across all levels of the organisation has been enhanced through a newly launched weekly staff newsletter, providing updates from the Central Team and celebrating best practice and local success stories from site teams. In addition, three annual in-person staff events have been introduced to strengthen connection, alignment, and collaboration between Central Team members and General Managers. Regular updates on organisational performance, progress, and key challenges are also shared through the Executive report and SMT meetings.
## **(b) Consulting employees or their representatives regularly**
The charity established a People Plan Steering Group, led by the HR Business Partner and comprising employees from across different roles and sites. This group meets monthly to shape the direction of the People Plan and provides actionable recommendations to the Senior Management Team (SMT). In addition, staff-led focus groups have been introduced in specific areas such as Fitness Development and Business Systems, enabling employees to directly contribute ideas and influence operational improvements.
## **(c) Encouraging involvement of employees in the charity's performance**
We continue to encourage employees to take ownership of their personal and team performance through an enhanced Performance Development Review (PDR) process, which promotes two-way dialogue and sets clear performance objectives. The charity also launched internal initiatives to recognise outstanding contributions through refreshed staff recognition programmes. A review of performance-related pay and staff bonus structures has been completed and recently approved by the Executive Committee board to ensure alignment with charity values and performance outcomes.
## **(d) Achieving common awareness of financial and economic factors**
Regular reporting and communication have been implemented to ensure employees understand the financial and operational performance of the charity. Quarterly reports to the Board include staff satisfaction and engagement KPIs, with headline results communicated across the organisation. This ensures that employees have visibility of how their work contributes to broader organisational goals.
7
**The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Structure, Governance and Management (continued)**
## **(ii) How directors have engaged with employees and had regard to employee interests**
The Executive Committee Board and Senior Management Team (SMT) have remained closely involved in employee engagement activities. The COO and HR Business Partner provide monthly progress updates to SMT and updates to the Executive Committee Board, ensuring that employee feedback and engagement metrics are considered in strategic decisions.
During the year, key workforce challenges - including high turnover within the first year of employment and difficulties in recruiting skilled roles - were reviewed by the Executive Committee Board. These insights directly informed decisions to review pay structures, redesign onboarding processes, and invest in targeted training and development programmes.
The Executive Committee Board recognises that employee engagement and satisfaction are critical to organisational performance. Accordingly, several early wins from the People Plan have been delivered, including the introduction of a "Train the Trainer" programme, the use of apprenticeship levy funding to create new development opportunities, and the commissioning of management training on difficult conversations to strengthen accountability and support effective leadership across all sites.
The charity's directors will continue to monitor the implementation of the People Plan throughout the financial year, recognising that successful delivery will require sustained communication, resource support, and investment.
## _**Board Oversight**_
The Board recognises that the success of Leisure United depends on the commitment and engagement of its employees. Throughout the year, the Executive Committee Board has reviewed employee engagement data quarterly and considered workforce impacts as part of key strategic and operational decisions. In approving the budget, the Board specifically took account of the recommendations arising from the People Plan Steering Group, ensuring that the charity's investment in people remains aligned with organisational growth and sustainability objectives.
## _**Fundraising**_
As reflected within the financial statements, the group does not participate in fundraising activities. However, should any fundraising be carried out, the charity is compliant with the requirements of the Fundraising Regulator's voluntary regulation scheme and the Code of Fundraising Practice. In addition, fundraising would not engage directly with vulnerable people and the public.
During 2024/25 the group did not work with any professional fundraisers or commercial participators, there were no instances of failure to comply with the above schemes, and no complaints were received regarding the group's fundraising activities.
## _**Events after the end of the reporting period**_
Particulars of events after the reporting period are detailed in note 26 to the financial statements.
8
## **The National Football Trust**
## **Company limited by guarantee**
## **Trustees' Annual Report (including Directors's Report) (continued)**
## **Year ended 31 March 2025**
## **Statement of Trustees' Responsibilities**
The Trustees (who are also directors of The National Football Trust for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Account Practice).
Company law requires the Trustees to prepare financial statements for each financial year, under Company Law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including income and expenditure, of the charitable company and the group for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company and group will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Auditor**
Each of the persons who is a Trustee at the date of approval of this report confirms that:
- in so far as they are aware, there is no relevant audit information of which the charitable company and group's auditor is unaware; and
- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charitable company and group's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
The Trustees' annual report and the strategic report were approved on 18 December 2025 and signed on behalf of the board of trustees by :
James Kendall Trustee
9
## **The National Football Trust**
## **Company limited by guarantee**
## **Independent Auditor's Report to the members and trustees of The National Football Trust Year ended 31 March 2025**
We have audited the financial statements of The National Football Trust (the 'Parent Charitable Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025 which comprise of the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheet, the Consolidated and Charitable Company Statement of cash flows and notes to the financial statements, including 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).
## **Opinion on financial statements**
In our opinion, the financial statements:
- give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 March 2025, and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **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 auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 group and parent charitable company'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.
## **Other information**
The Trustees are responsible for the other information contained within the Trustees' annual report. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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 during 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
10
## **The National Football Trust**
## **Company limited by guarantee**
## **Independent Auditor's Report to the members and Trustees of The National Football Trust (continued)**
## **Year ended 31 March 2025**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:
- adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made;
- we have not received all the information and explanations we require for our audit; or
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement set out on page 9, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 group and parent charitable company’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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
11
## **The National Football Trust**
## **Company limited by guarantee**
## **Independent Auditor's Report to the members and trustees of The National Football Trust (continued)**
## **Year ended 31 March 2025**
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed under the Companies Act 2006 and Section 151 of the Charities Act 2011 and report in accordance with those Acts.
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 auditor’s 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:
- Enquiry of management and those charged with governance to confirm there are no instances of fraud or non-compliance with laws and regulations.
- Reviewing journal entries to ensure they are appropriate and do not indicate management override.
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of activities and reviewing accounting estimates for bias.
- Review of disclosures within the financial statements and vouching these to supporting documentation to ensure compliance with applicable laws and regulations.
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 is available on the FRC's website at https://www.frc.org.uk/auditors/audit-assurance/auditor-sresponsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report.
We communicate with those charged with governance regarding, amount other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during out audit.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’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 charitable company’s members and its Trustees those matters we are required to state to them in an auditor’s 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 charitable company and the charitable company’s members as a body and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Mark Proctor FCA DChA (Senior Statutory Auditor)
For and on behalf of
Lovewell Blake LLP Chartered Accountants & Statutory Auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
18 December 2025
12
## **The National Football Trust**
## **Company limited by guarantee**
## **Consolidated Statement of Financial Activities (incorporating income and expenditure account)**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
Notes Unrestricted Restricted 2025 2024
Funds Funds Total Total
£ £ £ £
Income and endowments from:
Donations and legacies 4 - 484,600 484,600 -
Charitable activities 5 8,248,854 - 8,248,854 6,199,074
Other trading activities 6 3,081,650 - 3,081,650 2,413,443
Other income 7 133,468 - 133,468 38,312
Investment income 8 75,497 - 75,497 7,431
Total income and endowments 11,539,469 484,600 12,024,069 8,658,260
Expenditure on:
Raising funds 9 1,257,549 - 1,257,549 1,177,109
Charitable activities 10 8,813,666 33,859 8,847,525 6,530,808
Total expenditure 10,071,215 33,859 10,105,074 7,707,917
Net income before transfer of funds 1,468,254 450,741 1,918,995 950,343
Transfers between funds 450,741 (450,741) - -
Net movement in funds and net income 1,918,995 - 1,918,995 950,343
for the year
Reconciliation of funds:
Total funds brought forward 2,700,694 122,500 2,823,194 1,872,851
Total funds carried forward 21 4,619,689 122,500 4,742,189 2,823,194
**----- End of picture text -----**
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes set out on pages 17 - 27 form an integral part of the accounts
13
## **The National Football Trust**
## **Company limited by guarantee**
## **Consolidated and Charity Balance Sheet**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
Notes 31 March 2025 31 March 2024
Charity Group Charity Group
£ £ £ £
Fixed Assets
Intangible assets 15 - 79,274 - 118,914
Tangible assets 16 - 1,027,560 - 70,858
Investments 17 - 1 - 1
- 1,106,835 - 189,773
Current Assets
Stock 18 - 73,663 - 58,916
Debtors 19 - 426,796 - 360,841
Cash at bank and in hand 1,343,238 4,353,588 890,659 3,238,165
1,343,238 4,854,047 890,659 3,657,922
Current Liabilities
Creditors: amounts falling due
within one year 20 (40,798) (1,218,693) (26,158) (1,024,501)
Net current assets 1,302,440 3,635,354 864,501 2,633,421
Net assets 1,302,440 4,742,189 864,501 2,823,194
Funds of the charity
Unrestricted funds 21 1,179,940 4,619,689 742,001 2,700,694
Restricted funds 21 122,500 122,500 122,500 122,500
Total funds 1,302,440 4,742,189 864,501 2,823,194
**----- End of picture text -----**
During the year, the charity made a surplus of £437,939 (2024: surplus of £863,023).
These financial statements were approved and authorised for issue by the Trustees on 18 December 2025 and are signed on their behalf by:
James Kendall Trustee
Company registration number: 11535526
The notes set out on pages 17 - 27 form an integral part of the accounts
14
## **The National Football Trust**
## **Company limited by guarantee**
## **Consolidated statement of cash flows**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
2025 2024
£ £
Cash flows from operating activities
Net income for the year 1,918,995 950,343
Adjustments for:
Depreciation of tangible fixed assets 158,978 36,129
-
Amortisation of tangible fixed assets 39,640
Other interest receivable and similar income (75,497) (7,431)
Changes in:
(Increase) in debtors (65,955) (217,073)
Increase in creditors 194,192 417,403
(Increase) in stock (14,747) (20,705)
Cash generated from operations 2,155,606 1,158,666
Interest received 75,497 7,431
Net cash provided by operating activities 2,231,103 1,166,097
Cash flows from investing activities
Purchase of tangible fixed assets (1,115,680) (69,839)
-
Purchase of intangible assets (22,499)
Net cash flow (used in) investing activities (1,115,680) (92,338)
Net increase in cash and cash equivalents 1,115,423 1,073,759
Cash and cash equivalents at 1 April 2024 3,238,165 2,164,406
Cash and cash equivalents at 31 March 2025 4,353,588 3,238,165
Cash and cash equivalents consist of:
Cash at bank and in hand 4,353,588 3,238,165
Cash and cash equivalents at 31 March 2025 4,353,588 3,238,165
**----- End of picture text -----**
The notes set out on pages 17 - 27 form an integral part of the accounts
15
## **The National Football Trust**
## **Company limited by guarantee**
## **Charitable Company Statement of cash flows**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
2025 2024
£ £
Cash flows from operating activities
Net income for the year 437,939 863,023
Adjustments for:
Other interest receivable and similar income (45,734) (7,431)
Changes in:
Decrease in debtors - 7,435
Increase in creditors 14,640 14,038
Cash generated from operations 406,845 877,065
Interest received 45,734 7,431
Net cash provided by operating activities 452,579 884,496
Net increase in cash and cash equivalents 452,579 884,496
Cash and cash equivalents at 1 April 2024 890,659 6,163
Cash and cash equivalents at 31 March 2025 1,343,238 890,659
Cash and cash equivalents consist of:
Cash at bank and in hand 1,343,238 890,659
Cash and cash equivalents at 31 March 2025 1,343,238 890,659
**----- End of picture text -----**
The notes set out on pages 17 - 27 form an integral part of the accounts
16
## **The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
## **1 General information**
The charity is a public benefit entity and a private 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 0WS.
## **2 Statement of compliance**
The group constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
## **3 Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows. These accounting policies have been applied consistently throughout the period.
## **(a) Basis of accounting**
The financial statements have been prepared on the historical cost basis
The financial statements are prepared in sterling, which is the functional currency of the group.
## **(b) Fund accounting**
Unrestricted funds are available for use at the discretion of the Trustees to further the group's purposes.
## **(c) Going concern**
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the group be to able to continue as a going concern.
## **(d) Income**
All income is included in the statement of financial activities when entitlement has passed to the group, it is probable that economic benefits associated with the transaction will flow to the group and the amount can be reliably measured. The following specific policies are applied to particular categories of income.
- Income from trading activities includes income earned from activities to raise funds for the group and is recognised when entitlement has occurred.
- Income from charitable activities includes income earned from charitable activities and is recognised when entitlement has occurred.
- Income from grants, where related to performance and specific deliverables, are accounted for as the group earns the right to consideration by its performance.
## **(e) Expenditure**
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 relates:
- Expenditure on charitable activities includes all costs incurred by a group 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 group apportioned to charitable activities.
- Expenditure on raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
- All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
17
## **The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
## **3 Accounting policies continued**
## **(f) Intangible assets**
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
## **(g) Amortisation**
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, overthe useful life of that asset as follows:
Website development - 33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
**(h) Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
## **(i) Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 33% straight line
Motor vehicles - 33% straight line
## **(j) Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
## **(k) Financial instruments**
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
## **(l) Consolidation**
The financial statements consolidate the results from it's wholly owned subsidiaries, Leisure United, The Sheffield Football Trust and The Sunderland Football Trust on a line by line basis. A separate Statement of Financial Activities of (including Income and Expenditure account), for the charity itself is not presented because the charity has taken advantage of the exemption of Section 408 of the Companies Act 2006.
The financials statements of Leisure United Enterprises Limited have not been consolidated within the group as the company is dormant.
18
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2025|2024|
|4|Donations and legacies|£|£|
|Grant income|484,600|-|
**----- End of picture text -----**
During the period ended 31 March 2025 £484,600 (2024: £Nil) income from charitable activities was attributable to restricted funds. Grant income includes £49,215 of government grant income.
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2025|2024|
|5|Income from charitable activities|£|£|
|Pitch income|5,513,611|4,092,434|
|Gym memberships|1,894,100|1,552,361|
|Education income|701,043|402,929|
|Grant income|140,100|151,350|
|8,248,854|6,199,074|
**----- End of picture text -----**
During the period ended 31 March 2025 £Nil (2024: £125,000) income from charitable activities was attributable to restricted funds.
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2025|2024|
|6|Income from other trading activities|£|£|
|Catering income|2,939,430|2,301,345|
|Other trading income|142,220|112,098|
|3,081,650|2,413,443|
**----- End of picture text -----**
During the period ended 31 March 2025 £Nil (2024: £Nil) income from other trading activities was attributable to restricted funds.
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2025|2024|
|7|Other income|£|£|
|Other income|133,468|38,312|
|133,468|38,312|
|During the period ended 31 March 2025 £Nil (2024: £Nil) other income was attributable to restricted funds.|
|2025|2024|
|8|Investment income|£|£|
|Bank interest receivable|75,497|7,431|
|75,497|7,431|
**----- End of picture text -----**
During the period ended 31 March 2025 £Nil (2024: £Nil) investment income was attributable to restricted funds.
19
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
|**9 Costs of other trading activities**
Catering costs
**10 Charitable activities**
Wages and salaries
Rates and water
Light and heat
Repairs and maintenance
Insurance
Equipment purchase
Telephone
Property rent
Other office costs
Uniform
Licences and subscriptions
Advertising and marketing
Support services
Depreciation
Bank charges
Governance costs|**2025**
**£**
1,257,549
**2025**
**£**
5,337,418
231,557
975,087
571,807
128,482
91,738
38,113
100,094
296,356
7,452
276,006
113,566
197,175
198,618
241,795
42,261
8,847,525|2024
**£**
1,177,109
2024
**£**
3,883,349
243,573
861,489
387,955
81,551
63,263
32,968
-
220,865
7,181
218,143
180,077
83,875
36,129
198,829
31,561
6,530,808|
|---|---|---|
During the period ended 31 March 2025 £22,142 (2024: £2,500) expenditure from charitable activities was attributable to restricted funds.
|**Analysis of Governance costs**
Audit fees - The National Football Trust
Audit fees - Leisure United
Other non-audit fees - Leisure United|**2025**
**£**
10,789
26,992
4,480
42,261|2024
**£**
13,211
17,850
500
31,561|
|---|---|---|
## **11 Auditor's remuneration**
The auditor’s remuneration amounts to an audit fee of £42,261 (2024: £31,561) and other professional services of £5,694 (2024: £803).
20
## **The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2025|2024|
|12|Net income|£|£|
|-|
|Amortisation of intangible assets|39,640|
|-|
|Operating lease payments|114,000|
|Depreciation of tangible assets|158,978|36,129|
**----- End of picture text -----**
## **13 Staff costs**
All staff are employed by Leisure United, there were no employees in The National Football Trust during the period.
**----- Start of picture text -----**
||||
|---|---|---|
|2025|2024|
|£|£|
|The aggregate payroll costs were:|
|Wages and salaries|4,643,340|3,384,842|
|Social security costs|307,987|238,279|
|Pension contributions|146,209|160,444|
|5,097,536|3,783,565|
|Self employed instructors|87,616|99,784|
|-|
|Management secondment charges|152,266|
|5,337,418|3,883,349|
**----- End of picture text -----**
## Particulars of employees:
The average number of staff employed by the Leisure United during the period amounted to 276 (2024: 214).
**----- Start of picture text -----**
||||
|---|---|---|
|The number of employees that received emoluments in the following bands:|2025|2024|
|£60,000 - £69,999|1|2|
|£70,000 - £79,999|1|-|
|£90,000 - £99,999|1|1|
|£120,000 - £129,999|-|1|
|£210,000 - £219,999|1|-|
**----- End of picture text -----**
The key management personnel of Leisure United comprise of the Managing Director, Director of Operations, Executive Consultant, Head of Finance and Resources, Head of Business Systems and Chief Operations Officer. The total employee benefits of the key management personnel of Leisure United were £644,482 (2024: £578,871 relating to six employees). Also included in wages and salaries are payments made to the Football Foundation for the secondment of the Chief Executive Officer and the Director of Development totalling £113,655 (2024: £Nil), since the year end these personnel have transferred to Leisure United.
Wages and salaries include a settlement payments totalling £172,500 (2024: £Nil).
## **14 Trustee Remuneration**
The Trustees were not entitled to or received any remuneration. One Trustee had expenses totalling £1,135 (2024: four Trustees totalling £3,829) reimbursed for travel costs.
21
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
15 Intangible assets - Group
Website
development Total
£ £
Cost
At 1 April 2024 118,914 118,914
Additions - -
At 31 March 2025 118,914 118,914
Amortisation
- -
At 1 April 2024
Charge for the period 39,640 39,640
At 31 March 2025 39,640 39,640
Carrying amount
At 31 March 2025 79,274 79,274
At 31 March 2024 118,914 118,914
16 Tangible fixed assets - Group
Motor
vehicles Equipment Total
£ £ £
Cost
At 1 April 2024 18,468 91,597 110,065
Additions - 1,115,680 1,115,680
At 31 March 2025 18,468 1,207,277 1,225,745
Depreciation
At 1 April 2024 9,234 29,973 39,207
Charge for the period 6,156 152,822 158,978
At 31 March 2025 15,390 182,795 198,185
Net book value
At 31 March 2025 3,078 1,024,482 1,027,560
At 31 March 2024 9,234 61,624 70,858
**----- End of picture text -----**
22
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
|**17 Investments**
Subsidiary undertakings:
All investments shown above are held at cost.|**Charity**
**Group**
**Charity**
**Group**
**£**
**£**
**£**
**£**
- 1 -
1
**31 March 2024**
**31 March 2025**|
|---|---|
The National Football Trust is the sole member of charitable companies Leisure United. The Sheffield Football Trust and The Sunderland Football Trust were also members of the group until they were dissolved on 28 May 2024. Leisure United Enterprises Limited was incorporated on 28 March 2021, the company is a wholly owned subsidiary of Leisure United. The company has been dormant from date of incorporation to 31 March 2025.
The summary financial performance of the Leisure United alone is:
|Total income
Total expenditure
Surplus
Amount transferred to The National Football Trust
Net assets|**2025**
**2024**
**£**
**£**
11,978,335
8,525,829
(10,087,529)
(7,688,481)
1,890,806
837,348
409,750
750,028
3,427,380
1,946,324|
|---|---|
The Sheffield Football Trust was dormant throughout the year. The net assets of the charity at the 31 March 2024 were £3,781. The company was dissolved on 28 May 2024.
The Sunderland Football Trust was dormant throughout the year. The net liabilities of the charity at the 31 March 2024 were £942. The company was dissolved on 28 May 2024.
|**18 Stocks**
Items for resale
**19 Debtors**
Trade debtors
Prepayments and accrued income
**20 Creditors: Amounts falling due within one year**
Amounts owed to group undertakings
Tax and social security
Accruals and deferred income
Other creditors
Trade creditors|**Charity**
**Group**
**Charity**
**Group**
**£**
**£**
**£**
**£**
-
73,663
-
58,916
**Charity**
**Group**
**Charity**
**Group**
**£**
**£**
**£**
**£**
-
29,432
-
59,523
-
397,364
-
301,318
-
426,796
-
360,841
**Charity**
**Group**
**Charity**
**Group**
**£**
**£**
**£**
**£**
6,306
532,469
6,385
380,164
23,452
1
9,405
1
-
170,709
-
84,812
11,040
491,881
10,368
536,696
-
23,633
-
22,828
40,798
1,218,693
26,158
1,024,501
**31 March 2025**
**31 March 2024**
**31 March 2024**
**31 March 2024**
**31 March 2025**
**31 March 2025**|
|---|---|
23
## **The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
|**20 Creditors: Amounts falling due within one year (contined)**
**Deferred income**
Deferred income brought forward
Income released in the year
Income deferred in the year
Deferred income carried forward|**Charity**
**Group**
**Charity**
**Group**
**£**
**£**
**£**
**£**
-
155,709
-
52,480
-
(114,000)
-
(10,771)
-
-
-
114,000
-
41,709
-
155,709
**31 March 2025**
**31 March 2024**|
|---|---|
Deferred income relates to funds received to be offset against future costs of grass pitch maintenance.
|**21 Funds**
**Year ended 31 March 2025**
**Group**
**Unrestricted funds**
General funds
**Restricted funds**
Replacement facility signage
NFT strategic development
LED floodlighting
Goalpost
Maintenance
**Charity**
**Unrestricted funds**
General funds
**Restricted funds**
Replacement facility signage
NFT strategic development|**At 1 April**
**Income**
**Expenditure**
**Transfers**
**At 31 March**
**2024**
**2025**
**£**
**£**
**£**
**£**
**£**
2,700,694
11,539,469
(10,059,498)
450,741
4,631,406
120,000
-
-
-
120,000
2,500
-
-
-
2,500
-
450,741
-
(450,741)
-
-
11,717
(11,717)
-
-
22,142
(22,142)
-
-
122,500
484,600
(33,859)
(450,741)
122,500
2,823,194
12,024,069
(10,093,357)
-
4,753,906
**At 1 April**
**Income**
**Expenditure**
**Transfers**
**At 31 March**
**2024**
**2025**
**£**
**£**
**£**
**£**
**£**
742,001
455,484
(17,545)
-
1,179,940
120,000
-
-
-
120,000
2,500
-
-
-
2,500
122,500
-
-
-
122,500
864,501
455,484
(17,545)
-
1,302,440|
|---|---|
Replacement facility signage: represents funding received to support the costs related to the replacement facility signage at Sheffield, Liverpool and Sunderland Hub sites. NFT strategy development: represents funding received to support the costs related to the development of the National Football Trust strategy.
LED floodlighting: represents funding received from the Football Foundation and Sheffield City Council towards the costs of installing LED floodlights throughout the charity's various sites.
Goalposts: represents funding received from the Football Foundation towards the costs of goalposts.
Maintenance: represents funding received from the Football Foundation towards the costs of repairs and maintenance.
24
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
21 Funds (continued)
Year ended 31 March 2024 At 1 April Income Expenditure At 31 March
2023 2024
Group £ £ £ £
Unrestricted funds
General funds 1,872,851 8,533,260 (7,705,417) 2,700,694
Restricted funds
- -
Replacement facility signage 120,000 120,000
-
NFT strategic development 5,000 (2,500) 2,500
-
125,000 (2,500) 122,500
1,872,851 8,658,260 (7,707,917) 2,823,194
At 1 April Income Expenditure At 31 March
2023 2024
Charity £ £ £ £
Unrestricted funds
General funds 1,478 757,459 (16,936) 742,001
Restricted funds
- -
Replacement facility signage 120,000 120,000
-
NFT strategic development 5,000 (2,500) 2,500
-
125,000 (2,500) 122,500
1,478 882,459 (19,436) 864,501
Funds are represented by the following assets:
As at 31 March 2025 Restricted Unrestricted 2025
Funds Funds Total
Group £ £ £
-
Intangible assets 79,274 79,274
-
Tangible assets 1,027,560 1,027,560
Investments - 1 1
Current assets 122,500 4,731,547 4,854,047
-
Creditors : Due within one year (1,218,693) (1,218,693)
122,500 4,619,689 4,742,189
Restricted Unrestricted 2025
Funds Funds Total
Charity £ £ £
Current assets 122,500 1,220,738 1,343,238
-
Creditors : Due within one year (40,798) (40,798)
122,500 1,179,940 1,302,440
**----- End of picture text -----**
25
**The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
**----- Start of picture text -----**
21 Funds (continued)
As at 31 March 2024 Restricted Unrestricted 2024
Funds Funds Total
Group £ £ £
-
Intangible assets 118,914 118,914
-
Tangible assets 70,858 70,858
Investments - 1 1
Current assets 122,500 3,535,422 3,657,922
-
Creditors : Due within one year (1,024,501) (1,024,501)
122,500 2,700,694 2,823,194
Restricted Unrestricted 2024
Funds Funds Total
Charity £ £ £
Current assets 122,500 768,159 890,659
-
Creditors : Due within one year (26,158) (26,158)
122,500 742,001 864,501
22 Analysis of changes in net debt
At 1 April Cash At 31 March
2024 flows 2025
£ £ £
Cash 3,238,165 1,115,423 4,353,588
Total 3,238,165 1,115,423 4,353,588
**----- End of picture text -----**
## **23 Company limited by guarantee**
The Trust is a company limited by guarantee. Each member of the company undertakes to contribute such amount (not exceeding £10) as may be required in the event of winding up.
## **24 Results of The National Football Trust**
During the year, the charity achieved net income of £437,939 (2024: net income of £863,023). The charity is not required to produce their own Statement of Financial Activities because of the exemption provision in Section 408 of the Companies Act 2006.
26
## **The National Football Trust**
## **Company limited by guarantee**
## **Notes to the Accounts**
## **Year ended 31 March 2025**
## **25 Related party transactions**
During the current and previous period the following related party transactions were undertaken:
The group received administration and management support from DGEMS Ltd of which Mr D J Gallagher is a director.
**----- Start of picture text -----**
||||
|---|---|---|
|2025|2024|
|DGEMS Ltd|
|Administration and management support|30,000|26,000|
|-|-|
|Amounts owing to DGEMS Ltd at the year end|
**----- End of picture text -----**
The group received marketing support from Blue Dawn Pictures which is controlled by a close family member of the key management personnel.
**----- Start of picture text -----**
||||
|---|---|---|
|Blue Dawn Pictures|
|Marketing support|-|200|
**----- End of picture text -----**
The group received grant income from The Football Assocation of which Mr J Kendall is a Director of Football Development.
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||||
|---|---|---|
|2025|2024|
|The Football Assocation|
|Grant income|-|5,000|
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## **26 Post balance sheet events**
In August 2025, the charity's subsidiary, Leisure United, became aware that they had been named in a personal injury claim relating to an incident that occurred in 2022. Recent correspondence in December has indicated that the case is proceeding further.
The Trustees are working closely with professional advisors to determine where responsibility for the claim lies and to what extent this can be mitigated. At this stage, the outcome of these discussions is uncertain, and the amount of any potential liability cannot be measured with sufficient reliability.
Accordingly, no provision has been recognised in these financial statements. The matter will continue to be monitored, and further disclosure/provision will be made as appropriate once additional information becomes available.
27