Registered Charity No: 1204643 THE NEW CROFT FOUNDATION {A Charitable Incorporated Organisation) Annual Report and Financial Statements for the period 8 September 2023 to 31 July 2024 THE¥L£JJJCROFT FOUNDATION INSPIRING OPPORTUNITIES
THE NEW CROFf FOUNDATION (AChaniablelncorporatedOrganiSationl INDEXTO THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2024 Page Charity Reference and Administrative Oetails Trustees. Annual Report (incorporating Director's'Reportl Independent Examiners, Report Statement of Financial Activities (incorporating Income & Expenditure Account) Balance Sheet Notes to the Accounts 10-15
THE NEWCROFT FOUNDATION lACtable10r1rated0rg15jty(1il TRUSTEE'SANNUAL REPORT IlncoiporatinÉ Direclorf5 Report) FOR THE PERIOD ENDED 31 JULY2024 Charity Name: Charity Registration Number: 1204643 The New Croft Foundation Principalofflceaddress: The New Croft Chalkstone Way Haverhill Suffolk CB90BW Trustees: Tom Harrison Jonathan Ball Peter Betts Kayleigh Steed Graham Jones Holly Mayhew Catherine Merch_chammon Nicholas Keeble Lois Balfour Kan Jarvis Chair-Appointed 0810912023 Appointed 0810912023 Appointed 0810912023 Appointed 0810912023 Appointed 0810912023 -V Appointed 0810912023 Appointed 0211012023 Appointed 1610112024 Appointed OII1112024 Appointed 0810912023 Resigned 1511012024 Independent Examiners: Stephanie J Beeston-clarke FCCA Beeston-clarke Accountants Ltd ChorteredCertifiedAccountonts 92 Gladstone Street Winsford Cheshire CW7 4AZ Bankers: Lloyds Bank Ictoria London
THE NEW CRO FOUNDATION (Acharirablelncpèted0tI5atiwI TRUSTEE'SANNUAL REPORT l1ncorporatsngDiIorts Reportl FOR THE PERIOD ENDED 31 JULY2024 The trustees present their report and financial statements of the charity for the period ended 31 July 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS1021 in preparing the annual financial statements of the charity. The financial statements have beerb prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document. the Charities Act 2011 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 (second edition). STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a Charitable Incorporated Organisation and was registered as a charity under the Charities Act 2011 on 8 September2023. None of the TTUStees have any beneficial interest in the charity. All of the Trustees are volunteers. Trustees are a5SlSted to fulfil their duties by the Chief Executive and by other advisors, who offer information and assistance in undertaking all their governance tasks. It IS the responsibility of the Trustees to meet to make balanced, proportionate and clear decisions about the future ofthe charity. and make all disclosures about the organisation. Through consideration of reports on financial management, income. expenditure, liquidity, investments and of forecasts for the next twelve months. Trustees have analysed any risks to the charity, and have identified no material uncertainties that cast doubt about the ability of the charity to continue as a going concern. Recruitment and Appolntment of Trust•ès The first trustees appointed must retire at the end of their term12 or 3 years but are then eligible for reappointment. Haverhill Community Sports Association (appointing bodyl may appoint up to two charity trustees. Each appointment of a charity trustee must be for a term of three years. There must be at least three trustees with no maximum number specified. Risk Management The Trustees ofThe New Croft Foundation recognisetheir responsibility for maintaining an effective system of risk management and regularly reviewing its effectiveness. As a 5POrting foundation, the charity acknowledges exposvre to a variety of operational. financial. health and safety, and reputational risks. Effective risk management enables the charity to achieve its objectives. safeguard its beneficiaries, staff, and volunteers, and ensure long-term sustainability. The charity maintains a comprehensive risk register, reviewed at least annually, or more frequently when circumstances require. Each risk includes assigned mitigation strategies, responsible persons, and indicators for review. The Trvstees also consider the charity's risk appetite. balancing the pursuit of opportunity with the need to manage threats. Risk management is embedded in strategic and operational decision-making processes at all level5.
THE NEW CROFT FOUNDATION (Acharitab1n[orporated orlSatiOn1 TRUSTEE'SANNUAL REPORT IlntorporatinÉ Dire¢torf5 Report) FOR THE PERIOD ENDED 31 JULY2024 OBJECTIVES AND ACTIVITIES The objects of The New Croft Foundation are5pecifically restricted to the following charitable purposes for the public benefit and in particularthe inhabitants of Haverhill and its surrounding areas- i. to promote community participation in healthy recreation by providing or asslsting in the provision of facilities for the playing of association football and other sports capable of improving health Ifacilities in this clause 3 means land. buildings, equipment and organlsing sporting activities). 2. to promote and protect good physical and mental health by providing or asslstlng in the provision of sports and other activities designed to alleviate health issues or promote a healthier lifestyle; 3. to advance the education of children and young people including by providing or assisting in the provision of educational courses and qualifications in sport and related subjects. Thi5 year, all of our activities have been carried out with the aim of furthering these charitable purposes for the public benefit. ACHIEVEMENTS AND PERFORMANCE The Trustee5 of The New Croft Foundation are pleased to present this report outlining our activities, achievements, and perfom)ance for the year. Our charity exists to support people in our local community of all ages, genders and abilities being able to participate in organised activity for the benefit of the public, and we remain committed to delivering seNices that improve the lives of our beneficiaries. A¢tlvltle$ Undertaken During the reporting period, the charity delivered the following key activities.. Promoted and delivered a range of footballing activities for people of all ages, genders and Promoted and delivered disability and mentsl health provisions for people of all ages, genders and abilities Promoted and deliVed an educational programme for students at P05t 16 AchiÈv*ments and Impart We are proud of the measurable difference our work has made this year. Highlights include: Reaching over 150 direct beneficiaries across our programmes in our first year. Delivering over 12 new community-based programmes in footballing activities, mental health and education. Providingopportunities foryoung peopleto stay in education within ourlocal communityduring a cost-of-livingcrisis where local students couldn't all afford to travel to colleges in nearby larger towns and cities. Performance Against Objectives As it'5 our first year we set out to achieve the following goals and would then review them and look to increase our objectives the following year. l. Expand our community provisions in footballing opportunities for both males and females Achieved. 2. Expand our community provisions for people with disabilities-Aihieved. 3. Engage with the local community to develop a volunteerworkforce to support with some of our
THE NEW CRO FOUNDATION (Achantablelp*eo1Sation} TRUSTEE'S ANNUAL REPORT IlncorwabnE0irect.sReportl FOR THE PERIOD ENDED 31 JULY 2024 community activities whilst providing exit routes for potential employment opportunities Partially achieved, recruitment ongoing within the volunteer sector. 4. Look to secure funding from partners to support delivering first class disability and education programmes Achieved through successfvl grant applications and partnership5 Wlth the school. We received a lot of challenges along the way but the key to our achievements was engaging with the local community and raising awareness of the opportunities available. Partnershlps and Community Engagement Co15aboration has been key to our success this year. We partnered with: Abbeycroft Leisure to support the delivery of our disability and special educational need projects. We built key relation5 Wlth Samljel Ward Academy to deliver our education programme. We developed fantastlc Telationships with Suffolk FA who supported our community footballing provisions for people of all ages, genders and abilitie5. Future Plans Looking ahead, we plan to.. Grow our community provision for boys and girls. Grow and develop both daytime and eveningopportunities within the mental health section for male and female adults Develop our own team of staff capable of meetingthe demands ofthe local community and with a skill set to really drive standards and opportunities for people Look to provide exit routes from community programmes into regularorganised team activities. Conclusion The Trustees are proud of the achievements made this year and remain dedicated to fulfilling the charity's purposes. We thank our staff, volunteers, partners. funders, and supporters for their invaluable contributions during our first year of service. Flnancial Revlew The New Croft Foundation were delighted to receive a third party donation of £350,000 in the financial period, this donation provided a platform for us to grow our community programmes offering sustainability and to be able to provide Haverhill Community Sports Association with a £280,000 contribution towards the state of the art new 3G facility- The new facility has provided us with a platform to Sustain and grow our initiatives within the local community in the years to come under a sustainable model. Total income received during the period to 31 July 2024 was £400,044. Total expenditure on charitable activities was £346,196. Total funds at 31 July 2024 were £53.849. This is made up of £44,997 of Unrestricted funds which are free to spend on how the trustees decide. and restricted funds of £8,851 which are to spent on the restrictions given by their funders. Reserves Policy It is the policy of The New Croft Foundation to maintain unrestricted funds which are free reserves, at a levelwhich equate5 to approximatelythree months expenditure to protectagainst interruption ordecline of future sources of income {£30-£35kl.
THE NEW CROFT FOUNDATION IAChaftJbleln¢OrpDratoaltlonl TRUSTEE'SANNUAL REPORT 1lncorp0rbtingreCtorfsRe>rtl FOR THE PERIOD ENDED 31 JULY2024 Three rnonths is deemed as being suitable to enable charitable activities to continue in respect of staff fulfilments to continue current provisions. Trustees are to review the level of re5etves of The New Foundation in context with the current economic climate to ensure sufficient reserves are maintained to fulfil the Foundations activities on an ongoing basis. TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees, who are also directors of the charity are responsible for preparing the Trustees, Report and rinancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fairview of the state of affairs of the charity and of the incoming resouices and application of resources of the charity for that period. In preparing those financial statements, the trustees are reqUId to.. select suitable accounting policies and then apply them Consistently., observe the methods and principles in the Charities SORP 2019 IFRS 1021. 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. prepare the financial statements on the goingconcern basis unle55 It is inappropriate to presume that the company will continue in operation. The trustees are responsible for keeping proper accounting records that disc105e 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 Charities (Accounts and Reports) Regulation5 2008 and the provisions of the trust deed. They are also re5pon5ible for safeguarding the assets of the charity and hence for taking rea50nable steps forthe prevention and detection of fraud and other irregularities. Approved by the Trustees on .lolA-. and signed on its behalf by: Tom Harrison Chair of Trustees
THE NEW CROFT FOUNDATION (ACh•tilablelncorpDratedOr8anisationl INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 JULY2024 We report the trustees on our examination of the accounts of the company for the period ended 31 July 2024 which are set out on pages 8 to 15. Responsibilities and basis of report As the charity trustee5 you are responsible for the preparation of the accounts in accordance with the Charitie5 Act 20111'the Act'l. I report in respect of my examination ofthe Trust's accounts as required under section 145 ofthe 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of theAct. Independent Examlner's St•tement 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 Tnjst as required by section 130 of the Act: or 2. that accounts do not accord with those records. or 3. that accounts 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 the requirement that the accounts give a'true and fair view. which is not a matter considered as part of an independent examination. I have no concems 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 undetstanding of the accounts to be reached. Stephanie J 8eeston-Clarke FCCA Beeston-clarke Accountants Ltd CharteredCertifiedAccountonts 92 Gladstone Street Winsford Cheshire CWT 4AZ Dated= 13 Oclober 2025
THE NEW CROFT FOUNDATION STATEMENT OF FINANCIAL AcfiviTIES PERIOD ENDING 31 JULY 2024 Unre5trlcted Funds Restrl¢ted Funds Total Funds Note 2024 2024 2024 Income Donation5 & legacies Charitable activities Other trading activities 351.316 27,453 425 8,350 12,500 359.666 39,953 425 Total In¢omlnq Resources 379.194 20,850 400.044 Expenditure Charitable activitles 334.197 11,999 346,196 Total Expendlture 334,197 11,999 346,196 Net Incomellexpendlturel 44.997 8.851 53,849 Transfer5 Gross transfers between fund5 Net movements In fvnd5 44.997 8,851 53,849 Reconc115atlon of Funds Total funds carried forward at 31 july 2024 44,997 8,851 53,849 The Statement of financial activities includes all gain5 and105ses recognised in the year. All income and expenditure derives from continuin8 activitie5. The notes on pages 10 to 15 form part of these financial statements
THE NEW CROFf FOUNDATION BALANCE SHEET AT AT 31 JULY 2024 Note 2024 Flxèd Assets Tangible Assets 2.515 Currtnt Auets Debtor5 Cash at bank and in hand 5.669 93,173 98WZ Cr•dltors- amounts fallln8 due wfthln on• v io 47.507 NEY CURRENT ASSErs 51.334 NET ASSETS 14 $3,849 THE FUNDS OF THE CHARiri', Rèstrltted Funds 15 8.851 Unre5trlrt*d Funds General Fund 16 44.997 TOTAL CHARITY FUNDS 53,849 The accounts were approved by the Trustees, on and were signed on thelr behalf bv- Tom Harrison Dated The notes page5 10 to 15 form part of these financial statements
THE NEW CROFT FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 I. ACCOUNTING POLICIES Ba515 of Prepuration The charity constitutes a publit benefit entity as defined by FRS102. The financial statements have been prepared under the historical cost convention and in accordance with Accountin8 and Reporting by Charities.. Statement of Recommended pralee 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 (Charitles SORP FR51021. the Charities Act 2011 and UK Generally Accepted Accourttin8 Practice. The financial Statements are prepared on a goin8 COrt¢ern basis under the historical cost ¢onvention15ee note 151, and are presented in sterling. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountin8 policy notelsl. FlxedA55ets Fixed assets are stated ar ¢ost les5 depreciation. Depreciation is ¢al¢ulated to write down the cost or valuation ol tangible fixed assets to their estimated residual values over their estimated useful lives at the following annual rates Equipment 25% of c05t Income recoqnltlon All in¢ome is reco8nised once the charity has legal entitlement to the income, when there Is sufficient certainty of receipi and the amount of income receivable can be measured reliably. Donations are recognised upon receipt and classified at that point as either unrestricted or restricted if the donatSon is foi a speclfi¢ purpose. No amounts are included in ihe fjnancial statements for serylces donated by volunteers. Expendlture recoqnltlon Liabilities are recognised a5 expenditure as 5¢)on as there is a le8al or constructive obligation cornmittin8 thè charity to that expenditure. it is probable that settlement will be required and the amount of the obligation an be measured reliably. Expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. including support and governance costs. For more information on this allocation refer to the note 'allocation of governance and support costs" below. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources. Charitable activity expenditure are those costs incurred in attrarting voluntary income. and Include expenditure directly associated with individual project5 and 5UPPOrt costs relating to those activities. io
THE NEW CROFT FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 I. ACCOUNTING POLICIES Icontinuedl Allo¢utlon oAtyovernun¢e andsupportcosts Governance costs a those incurred in connertion with the management of the thality and its assets, organisational admini51ration and compliance wlth tonstitutional and statutory iequirements. Support costs include central function5 and have been allocated to activity ¢osr ¢ategorie5 on basis consistent wirh their use of resoLtsrces. The allocatlon ol governance and support tost5 15 3naly5ed in note 6. RestrfrtedFun45 Restrlcted funds ale accounteil lor In accordance with the particular terms of trust arlsln8 from the express or implied wishe5 of donors in 50 far as these a iniended to be bindin8 on the Trustees. GenerolFund Free reserves that are those available for the general purposes of the charlty, aftei deduction of restricted funds. des$8nated lunds. and the Capital Fund. 2. Donatlons & Le8a¢les 2024 Restrlcted Unr•strlcted Totsl Oonations Grants 351,316 352,716 6,950 6,950 Total 351.316 8,350 359.666 3. Income from Charltable Acthdtles 2024 Restricted Unrestrlcted T¢)tal Football in the Communitv Educational Pro8ramrne5 27.453 27,453 12.SChJ 12.5C Total 27.453 12.S(N) 39,953 4. Income from Other Trading Artivities 2024 Restricted Unreslr1ed Totsl Fundrai5in8 Sponsorship 325 Ic 325 Ic Total 425 425 li
THE NEW CROFf FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 5. Charitable Activitles 2024 Restrlrted al Analysls of expendlture on Charitable actlvltles Salaries & Wages Donation5 & Sponsorships Communlty Football International Travel Total Unrestricted Total 10,122 280.520 14,862 4,559 310 063 9,138 19.260 280.520 16,200 4,559 10 475 320 $39 1,338 2024 Restrlcted bl Analysls of support costs Unrestrlcted Total Staff Training Staff Unlform Equipment Purchase 790 3,033 1,143 1,536 380 2,567 1,500 330 588 625 126 495 142 790 4,521 1,143 I,S36 380 2,567 1,500 330 588 625 162 495 142 1,487 Insvrance Printing, Postage & Stationery Consultant Fees Atcommodation Travel Subsistence Payroll Bank Fees Depreclation 36 Total cl Analysis of governance 2024 Restrlrted Unrestricted Total 1,800 2,640 4.440 Accountancy Independent Examiner's Fees Total 1,800 2,640 4,440 12
THE NEW CROFT FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 6. Net IncomellExpenditure) Nei income/lexpendit¥rel for the year is Stated after char8in8'. Independent Examinerfs Fees DepreciatSon 2024 142 7. Analysls ot Staff Costs 2024 Wa8e5 & Salaries Social Security Costs Pension Costs 18,915 266 78 19,260 Totsl The avera8e head count of employee5 during the year was l. No staff were paid more than E60.C¥)O during the year. 8. Tan8lble Flxed Assets rnen Totsl Cost or Voluotlon.. As at l Au8 2023 Additions Oisposa15 As at 31 july 2024 2.657 2,657 2.657 2,657 Depreclatlon.. As at l Au8 2023 Charge for year Disposals As at 31 July 2024 142 142 142 142 Netbook value.. As at 31 July 2023 At 31 July 2024 2.515 2,51S All materlal assets are held for the Charity's own use. 9. Debt¢rs ZOZ4 Trade Debtors Debtois & Prepayments Social SecrIty 5,553 112 5,669 13
THE NEW CROFf FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 10. Creditors . Amounts falling due withln one year 2024 Trade credltors Deferred income Accrued expense5 Other creditors 2.301 40.634 4,440 133 47.507 11. Capital Commltments & Post Balance Sheet Events There were no capital commltments at 31 July 2024. 12. Related Party Transactlons Ouring the year to 31 July 2024 payments totalling £304.313 were made to Haverhlll Community Sports As50clation IHCSAI of which Trusiee Tom Harrfjson Is a Director. and Trustee Peter 8etts is CEO. Payments made during the year were a5 follows- Community Football International Travel Printin8, Posta8e & Statlonery IT 15.345 861 1.146 403 625 280.400 5,2C(I 333 304,313 Sub515tence Donations & Sponsorships Legal Fees Travèl A Rrant of £SOO was recel¥ed fiom Haverhill Youth Artivities Tnt of which Trustee Tom Harrison 15 Trustee. The grant ts restrtcted for ust of the Haverhi51 Football Academy's UK Tour. TRUSTEES: No other Trustee or related party recefved any rèmuneration in respect ol the year ended 31 July 2024. 14
THE NEW CROFT FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2024 13. Golth8 Concem The TStee5 haveas5e55ed the risk to the Charity in relatK to 1n8tr¢rn. 14eW£rOftFQudaQTr ha5 budieted io incur10s5e5 duri the financial year th 31 Juty2026thtQthe1050f eduCaana1 Income I£SOk approxlmaielyl. asa result the Foundation is lookinKtoirueaseother reveThuesrreamsatrossttsopeiatsons includinE income from progrnme5. enhancin8 newcommuntty-based aCtItieS and ¢xt¢ndinBwrcutrEnl partnerships ommercially. The Foundation wil beW0lIngloWJrdS deli¥¢rlnia new educational pwramme fvom Septembor2026 whlfh 11 result on ihe financial posifkjn beln8 far wrethble. ThisvMII be closely mon¢tored by the tN5tees. and they wll maefvrther redsxtiovsebEwherewithin the Foundation If and when requlred, hr¥4r theTrustees •r• conhdenr th•tth • pmath?approach to theabovethere 11 b•no furthei challen8es. Therefore, at the tkne of ipprovlni Ihefinandalstatements, theTNstses a te•son•ble expectatlon that the8okn8 on¢¢rn bas15 r•rnalns approprliie. 14. Anaty515 of N•t ts 8•tw••n Funds R•5trftt•d fuThd¥ B,851 851 Unrqstwlttvd lunds 2.515 1.515 42.483 53 Geheral lunt1s At 3lJuly 2024 16 42.483 l515 15. Restrlcted Funds Movernent Anaty51s PLI 07 AbberOtt Lelsu West 5ufFolk Councll Haveihill Communlty Unltyk Graphlc P<Trt Ltd Haverhlll Y(xJth Att11¢5 Trytt UK Shared Prosperity Fund Sullolk FA- sguads Sulfolk FA- Walkin8 Fcolball Suflolk FA- Wil¢¢ats L50) I2,$(& $.149 821 4,352 579 234 126 276 126 8.851 174 174 174 IL939 450 20,850 TheAbbeycroft Lelsure8rantwas pro¥ldedfor stsff costs to delwerd1b1Ifootball ses51onE In Ilavethlll The8rant from West Suffolk Council 15 lorSEN d¢sability sports sesslons Haverhill Communlty Unity SchoDI prnwdÈd a 8rantfor Ihe Haverhill Football Acaderny Graphic Point Ltd donated fund1n8forthe Havethill Footballkademyktl Ha¥trhill yOh ActMtit5 Trust provided a irnnt fow the Haverhill FoothankademVs UKTour The grant from the UK shared P105penty Fund Isfor 5tsffuniform 9Jffolk FAhave provided knndin8 for Squad5. W¥ini Football. and kIcts5erK 16. Llnrestrfcted Funds Movement Analy515 BalanL• b dibjre Transfers Balance at 31 07 2024 44,997 General Fund5 379.194 334.197 379.194 334.197 44.997