**Registered Charity Number: 1188644**
**THE BRAZIL FOOTBALL FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**THE BRAZIL FOOTBALL FOUNDATION CONTENTS**
||**Page**|
|---|---|
|Reference and Administration Details|1|
|Report of the Trustees|2 to 4|
|Independent Examiner’s report|5 to 6|
|Statement of Financial Activities|7|
|Statement of Financial Position|8|
|Notes to the Financial Statements|9 to 11|
**THE BRAZIL FOOTBALL FOUNDATION CHARITY INFORMATION**
|**Trustees:**|T.G. Teoh|
|---|---|
||T.P. Alonso|
||D. Darst|
|**Registered Charity Number:**|1188644|
|**Registered Office:**|First Floor|
||16 Kingly Street|
||London|
||W1B 5PT|
|**Independent Examiner:**|Nikki Crane FCA|
||Wilson Wright LLP|
||Chartered Accountants|
||5 Fleet Place|
||London|
||EC4M 7RD|
|**Bankers:**|Metro Bank Plc|
||One Southampton Row|
||London|
||WC1B 5HA|
1
**THE BRAZIL FOOTBALL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **REPORT OF THE TRUSTEES**
The Trustees, present their report and the financial statements of The Brazil Football Foundation which is a Charitable Incorporated Organisation (“the CIO”), for the year ended 31 December 2022. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **CONSTITUTION**
The charity was formed as a Charitable Incorporated Organisation on 19 February 2020, and is registered with the Charity Commission – Registration number 1188644.
## **STRUCTURE, GOVERNANACE AND MANAGEMENT**
## **Governing document**
The Brazil Football Foundation (the “Charity”) is a CIO and is governed by its constitution dated 19 February 2020.
## **Method of appointment of trustees**
Any person may be appointed to be a trustee by ordinary resolution, or by a decision of the trustees. The number of trustees should be not less than 3. The trustees are appointed and operate in accordance with the Trust Deed. No formal policies have been adopted for the induction and training of trustees.
The induction process for any new Trustee consists of an initial meeting with existing Trustees prior to the commencement of a mentoring process overseen by the Trustees.
None of the Trustees receive any remuneration from the CIO in respect of their role as Trustees.
## **Risk management**
The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the major risks to which the Charity is exposed, and systems have been established to mitigate these risks.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the CIO are to provide financial grants to other charities, organisations and projects which are based in, or carry out their work in Brazil, and to generally support the public and communities in need in Brazil, in accordance with its charitable purposes.
2
**THE BRAZIL FOOTBALL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Public benefit statement**
The Charities Act 2011 requires all charities to meet the legal requirement that its aims are for the public benefit. The Charity Commission in its Charities and Public Benefit guidance states that there are two key principles to be met in order to show that an organisation’s aims are for the public benefit: firstly, there must be an identifiable benefit or benefits and secondly, that the benefit must be to the public or a section of the public. The Trustees consider that they have complied with Section 17 of the Charities Act 2011 including guidance the ‘Public benefit: running a charity (PB2)’.
## **ACHIEVEMENT AND PERFORMANCE**
## **Review of the year**
During the year the Charity hosted its first annual fundraising event in London for the Instituto Gerando Falcoes project. All the donations raised from the fundraising dinner were granted and paid to Instituto Gerando Falcoes during the year. Gerando Falcoes is a not-for-profit organisation incorporated under the laws of Brazil, whose main purpose is to deliver education, economic development, and citizen services in the favelas of Brazil.
## **Financial Review**
During the year ended 31 December 2022, the CIO received donations, other trading income and interest of £329,643 (2021: £4,920), and expenditure of £301,974 (2021: £3,720) was incurred.
At the Balance Sheet date, restricted funds were in surplus by £24,270 and unrestricted funds were in deficit by £221 (2021: £3,620 deficit in unrestricted funds). A Trustee has undertaken to provide further financial support to the CIO to cover the deficit on unrestricted funds.
## **RESERVES POLICY**
The Charity’s aim is to maintain minimal reserves, which should be sufficient to cover its expected non grant expenditure for at least one year. As noted above, a Trustee has undertaken to provide further financial support to the CIO to cover the deficit on unrestricted funds.
## **TRUSTEES**
Trustees during the year and at the date of this report are listed on page 1.
## **EVENTS AFTER THE REPORTING DATE**
Post year end the CIO hosted another fundraising dinner and the Charity received donations totalling £733,203. As a result of the funds raised, the Charity entered into a commitment in September 2023 to grant these funds to Instituto Gerando Falcoes.
## **FUTURE AIMS**
The Trustees intend that the Charity will continue to support a range of causes through the provision of grants.
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law regulations.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.
3
**THE BRAZIL FOOTBALL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting 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;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **By Order of the Trustees**
**Trustee: T P Alonso Date :** 28 October 2023
4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRAZIL FOOTBALL FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2022**
I report to the trustees on my examination of the financial statements of The Brazil Football Foundation for the year ended 31 December 2022, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
As permitted by Direction 2, issued by the Charity Commission the firm for which I work has provided the Company with bookkeeping services during the year ended 31 December 2022. As a consequence I have followed the requirement of the FRC’s Ethical Standard when undertaking this assignment.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
## **Independent examiner’s statement**
Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
5
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRAZIL FOOTBALL FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2022**
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Nikki Crane FCA
**Wilson Wright LLP** Chartered Accountants 5 Fleet Place London EC4M 7RD
Date: 30 October 2023
6
**THE BRAZIL FOOTBALL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Notes**
**INCOME**
Donations
Other trading activities
**2**
Interest
**Total incoming resources**
**EXPENDITURE**
Cost of raising funds
Charitable expenditure
**3**
Governance costs
**4**
**Total Resources Expended**
**Total funds at 1 January**
**Total funds at 31 December**
**NET INCOME AND MOVEMENT IN FUNDS**|**Unrestricted Restricted Total Funds**
**Funds**
**Funds**
**2022**
**£**
7,166
-
7,166
-
322,050
322,050
427
-
427|**Total Funds**
**2021**
**£**
4,920
-
-|
|---|---|---|
||7,593
322,050
329,643|4,920|
||-
37,168
37,168
-
252,794
252,794
4,194
7,818
12,012|-
-
3,720|
||4,194
297,780
301,974|3,720|
||3,399
24,270
27,669
(3,620)
-
(3,620)|1,200
(4,820)|
||(221)
24,270
24,049|(3,620)|
All income and expenditure has arisen from continuing activities.
7
## **THE BRAZIL FOOTBALL FOUNDATION BALANCE SHEET AT 31 DECEMBER 2022**
|**Notes**
**CURRENT ASSETS**
Debtors
**6**
Cash at bank and in hand
**CURRENT LIABILITIES**
Creditors: amounts falling due within one year
**7**
**NET CURRENT ASSETS/(LIABILITIES)**
**NET ASSETS/(LIABILITIES)**
**FUNDS**
Unrestricted
**8**
Restricted
**8**
**TOTAL FUNDS**|**£**
**£**
32,622
3,679
36,301
12,252
24,049
24,049
(221)
24,270
24,049
**2022**|**£**
**£**
-
100
100
3,720
(3,620)
(3,620)
(3,620)
-
(3,620)
**2021**|**£**
**£**
-
100
100
3,720
(3,620)
(3,620)
(3,620)
-
(3,620)
**2021**|
|---|---|---|---|
||||(3,620)|
||||(3,620)
-|
||||(3,620)|
## **Approved by the Trustees and signed on their behalf**
## **Trustee: T P Alonso**
Date: 28 October 2023
8
## **THE BRAZIL FOOTBALL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting policies**
## **1.1 Basis of preparation of accounts**
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the Charity.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
**1.2 Going concern** At the balance sheet date, the Charity's restricted funds were in surplus by £24,270, but unrestricted funds were in deficit by £221 (2021: £3,620). A Trustee has undertaken to provide further financial support to the charity to cover the deficit on unrestricted funds.
Based on the above, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly the Trustees continue to adopt the going concern basis of accounting in the financial statements.
## **1.3 Income and expenditure**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the charity has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably.
Donated goods and services are recognised when the Charity has control over any item, any conditions associated with the donation have been met, and the receipt is probable.
The value of the goods and services are measured on the basis of the value of the gift to the Charity, which is the amount the charity would have been willing to pay to obtain the goods or service. A corresponding amount is recognised in expenditure in the period of receipt.
## **1.4 Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
9
**THE BRAZIL FOOTBALL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting policies (continued)**
## **1.5**
## **Resources expended**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure is classified under the following activity headings.
Expenditure on charitable activities comprises those grants payable and associated costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support it.
Governance costs comprise all costs associated with meeting the constitutional and statutory requirements of the charity. The basis for allocation or apportionment is on time spent in relation to the relevant fund and is analysed in note 4.
## **1.6 Financial instruments**
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments which include trade and other receivables, trade and other payables and cash and bank balances. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2 Income from other trading activities**
|Fundraising events
Donated goods and services|**Restricted**
**2022**
**2021**
**£**
**£**
302,150
-
19,900
-|
|---|---|
||322,050
-|
## **3 Charitable expenditure**
|Grants to Instituto Falcoes Gerandos
Donated goods
Bank charges|**Restricted**
**2022**
**2021**
**£**
**£**
233,203
-
19,500
-
91
-|
|---|---|
||252,794
-|
## **4 Governance costs**
|Accountancy
Independent examination fees
Legal and professional|**Unrestricted**
**Restricted**
**Total Unrestricted**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
2,094
1,866
3,960
3,720
2,100
2,100
4,200
-
-
3,852
3,852
-|
|---|---|
||4,194
7,818
12,012
3,720|
10
**THE BRAZIL FOOTBALL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5 Trustees**
None of the Trustees received remuneration in the year nor were any expenses reimbursed to them.
## **6 Debtors**
|Amounts falling due within one year:
Other debtors
**7**
**Creditors**
Amounts falling due within one year:
Trade payables
Accruals
**8**
**Movement in funds**
**Balance as at 1 January 2021**
Incoming resources
Resources expended
**Balance at 31 December 2021**
Incoming resources
Resources expended
**Balance at 31 December 2022**
**9**
**Analysis of charity net assets between funds**
Unrestricted Funds:
General
Restricted Funds:
Instituto Falcoes Gerandos project|**2022**
**2021**
**£**
**£**
32,622
-
32,622
-
**2022**
**2021**
**£**
**£**
2,340
**-**
9,912
3,720
12,252
3,720
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
(4,820)
-
(4,820)
4,920
-
4,920
(3,720)
-
(3,720)|**2022**
**2021**
**£**
**£**
32,622
-|
|---|---|---|
|||32,622
-|
|||**2022**
**2021**
**£**
**£**
2,340
**-**
9,912
3,720|
|||12,252
3,720|
||(3,620)
-
(3,620)||
||7,593
322,050
329,643
(4,194)
(297,780)
(301,974)||
||(221)
24,270
24,049||
||**Current**
**Current**
**Assets**
**Liabilities**
**Total**
**£**
**£**
**£**
3,679
(3,900)
(221)
32,622
(8,352)
24,270||
||36,301
(12,252)
24,049||
## **10 Transactions with related parties**
No related party transactions requiring disclosure took place during the year.
## **11 Events after the reporting period**
Subsequent to the year end the Charity hosted another fundraising dinner and received donations totalling £733,203. As a result of the funds raised, the Charity entered into a commitment in September 2023 to grant these funds to Instituto Gerando Falcoes.
11