THE FOOTBALL ASSOCIATION BENEVOLEI NT FUND
FINAIYCIAL STATEI MENTS FOR THE YEAR ENDED
31 DECEMBER 2023

THE fiooTBALL ASSOCIATION BEI NEI VOLE( NT FUND
riOR THE< YEI AR ENDED 31 DEI CEI MBER 2023
LEGAL AIYD ADMINISTRATIVE DEI TAILS
Cliai-ity Naine:
The Football Associatioii Bei)evoleiit Flind
Legal StatLIS:
Tlie Charity was originally known as The football National Wai. Fiind
establislied on 12 Deceinber 1917 under the Wai. Chai'ities Act 1916. It
ceased to opei'ate as a War Charity on 25 Fcbriiaiy 1938 and the fiinds
tliei-eof continiied to be applied iindei. the iianie of The Football
Association Benevoleiit Fiiiid, Nvhich was foi'inally establislied Liiidei. a
tl'LlSt deed dated 13 Octobei. 1976. A i'evised tl'LlSt deed was issiied
dated 10 Mai-ch 1988. Tlie Charity is regist¢i'¢d with tlie Chai-ity
Coinmission (registration nLiiiibei' 299012).
Addi'ess of Cliai'ity:
The Football Associatioii Beiievoleiit Flind
Weinbley Stadiiiin
Weinbley
Middlesex
HA9 OWS
Ti'iistees:
G Tlioinpson
M Leggett
R Sliah
Seci'etary to tlie Ti'ustees:
R McDei'mott
Investinent Advisoi's..
HSBC Global Asset Maiiageinent
Bankei's:
Bai'clays Bank PIC
Aiiditoi's..
Roddis Tayloi. Robinson
Cl)aitei'ed Accoiintants
Uiiit 6 Acoi'ii Busiiiess Pai'k
Woodseats Close
Slieffield
S8 OTB

THE fiooTBALL ASSOCIATION BEI NEI VOLEI NT fiUND
TRUSTEI ES, ANNUAL REPORT
r4 OR THE YEI AR ENDED 31 DEI CEI MBER 2023
STRUCTURE GOVEI RNANCI AND MANAGEMEI NT
'nie Ti'LlStees are responsible foi- prepai-iiig the Triistees, Aniiiial Repoi't and tlie Financial Stateinents in
accoi'daiice witli applicable law aiid Uiiited Kiiigdom Accoiiiiting Standards (Uiiited Kiiigdoiii Genei'ally
Accepted Accouiiting Pi-actice).
The law applicable to Cliai'ities in England and Wales I'equii-es tlie Ti'ustees to pi-epai'e Financial
Statemeiits foi. eacli fiiiancial yeai. wliicli give a ti'iie and fail. view of the state of affairs of the Chai'ity and
of tl)e incoilliiig I'esoiii-ces and application of i-esoiii-ces of the Charity for that period. In pi'eparing these
Financial Statemeiits, tlie Trustees are reqiiii-ed to..
select siiitable accoLintiiig policies and thei) apply thein coiisisteiitly.
obsei-ve the metliods and pi'iiiciples iii tl)e applicable Cliarities SORP 2019 (FRS 102).
niake jiidgeinents aiid estiimates tliat al-e i'easoiiable and pi-lident.
state ivliether appl icable accoiiiiting standai'ds have been followed, siibject to any matei'ial departLires
disclosed aiid explaiiied in tlie financial statements; aiid
prepai'e the financial stateinents on the goiiig coiicei'ii basis iinless it is inappi-opriate to pi-esLiine that th¢
Charity will coiitiiiiie iii opei'atioii.
The Ti-iistees al'e I'espoiisible for keeping pi'oper accoiinting i'ecoi'ds tliat disclose with reasoiiable acciii'acy
at any time tlie financial position of tlie Charity and eiiable tliein to ensLlI'e that the Fiiiaiicial Stateineiits
comply with the Cliarities Act 2011, the Charities (Accoiints aiid Repoi-ts) Regiilatioiis 2008 aiid the
pi'ovisioiis of the Triist Deed. They al'e also I'esponsible for saf¢LTiiai'ding tli¢ assets of tlie Cliarity and
lieiice foi. takiiig I'easonable steps foi. tl)e pi'eveiition and detection of fi'aiid aiid otliei. ii'regiilai-ities.
Trustees arc iisiially recruited fi'om the Football Association's Coiincil Membei's, wlio are expei'ienced in
both the Football Association inattei-s and of the objectives of the Chai'ity- Ti'iistees are also recriiited foi.
their vaiyiiig pi'ofessioiial skills.
Mi. R McDei'inott, Seci-etai'y to tlie Triistees, is in cliai-ge of day to day adilliiiisti'ation inatters.
Tlie Ti-LlStees are aware of tlie inajor i-isks to wliich the Cliai'ity is exposed and cali confirm tliat i'easonable
measiii'es al'e being taken to Initigate the effect of tliese risks on the Cliarity.
OBJECTIVES AND ACTIVITIES
Tlie Cliarity's pi-incipal objective is to pi'ovide support to persons, and tlieii. depei)dants, wliicli is necessary
by reasoii of poveity oi. age oi. pl)ysical ot. meiital iiifii'inity 01- disability, who are connected or previously
have been coniiected to Association Football. Tlie Ti'LlStees confii'in tliat they Iiave refei'red to the
giiidance contained iii tlie Chai'ity Commissioii's geiiei'al giiidaiice 01) piibli¢ beiiefit wlieii i-¢viewing tlie
Triist's aiins aiid objectives aiid iii plaiiiiiiig fLltiii'e activities aiid settiiig tli¢ gi'aiit Inakiiig policy foi. the
year.
Applicatioiis for assistaiice fi'om the fiind al'e inade through Couiity Football Associatioiis aiid each aiid
every application foi. assistaiice is coiisidei'ed by the Ti'LlStees.
This policy is consisteiit with pi'evious yeai's.

THE FOOTI3ALL AS.%OCIATION BINEVOLENT fiUND
TRUSTEES, ANNUAL REI PORT (CONTINUED)
FOR THE YEIAR r.NDf.D 31 DF.CEMBER 2023
ACHIII VEMEI NTS AND I)Ei Rf4OIIMANCE
Total gi'aiits payable lids dcci'case(I by 40/0 to £82,597 (2022: £86,074). Tliei'e wci'e 46 beiieficiai'ies in tlie
year (2022: 32).
Inv¢stment income incrca.8ed by 27% to £139,117 (2022: £109,622) and the value of investments
increased by 90/0 10 £5,723,783 (2022: £5,246,825).
The I'eserves policy aims to liold siifficient reserves to maintain tlie Charity's abil ity to fLilfil it8 objectives
in the long tei'm. The Trustccs are satisfied tliat the current level of reserves is adeqiiate foi. this pui'pose.
FINANCIAL RF.VIF,W
All assets are being held for tlie purpose of meetiiig tlie Charity's objective.
The principal objective of tlie Charity's investment policy is to earn the higliest total retiirn on the
investment poitfolio whilst acceptiiig ali overall mediiiin level of risk. The Cliarity I'elies on specialists to
advise on stock Inarket investin¢nts ai)d also seciire liaveiis for bank deposits.
All investin¢iits held by tlie Cliarity have beeii acqiiired in accoi'dance with tlie powei's available to
Trustees.
Due to tlie sti'eiigtli of tlic balaiice slieet the Cliai'ity is independent of Football AssOLiatioii Limited.
The Chai-ity's net asscts amoiiiit to £5,885,357 and tlie Trustees believe them to be adeqLiate to be able to
fulfil the obligatioiis of tlie Cliai'ity,
PLANS FOR FUTURE PERIODS
The plans foi. the fiiliire are to contilllie to siipport, by way of gi?nts, those beneficiaries whose application
has beeii approved by tlie 'l'riislees. A specific designation of £150,000 from tlic a.ssets of tlie Benevolent
Fund have been made available to suppoit the players and families of tlie England 1966 Woi'ld Clip squad
who qualify as "beneficiaries" in accordance with the objectlves of tlie Charity. Additionally, the
definition of "beneficiaries" now includes individuals who are in need of siipport by reason of abuse,
neglect or other ti'auma experienced tlii'ougli football.
Approved by tlie Trustees on 30 October 2024 and signed on their belialf by..
G Thonipson

INDII PEI NDENT AUDITOR'S RE4 POIIT TO THE TRUSTEI fi S OF THE fiOOTBALL
ASSOCIATION BE< NEI VOLEI NT fiUND
Opinioii
We l)ave aLidited the fiiiaiicial stateiT]ents of Tlie Football Association Beiievoleiit FLiiid (tlie 'cliai-ity') for
tlie yeai. elided 31 Deceinber 2023 wliicli coinprise the Stateiiient of Fiiiiliicial Activities, tlie Balaiice Sheet
aiid the notes to tlie t51l¢111cial stateiiieiits, iiiclLiding sigiiificaiit accoiiiitiiig pol icies. The finaiicial reporting
fi-ainework tl)at has beeii applied ii) tl)eii' pi'epc11'ation is applicable law aiid Uiiited Icingdoiii Accoiii)ting
Stand¥1rds, inclLiding Fiiiancial Repoi-tiiig Staiidai-d 102 Tlie fiiiancial Reporting Standai'd applicable li) tl)e
UK ciiid RepLiblic of Ii'elaiid (Uii ited Icinirdoin Generally Accepted Accoiii)tiiiLJ Pi'cictice).
Ili OLlI- opin ioii tlie financial stateineiits..
give a tl'Lie and fair view of the state of the cliai'ity's affaii's as at 31 Deceinbei. 2023, aiid of its
incoiniiig I'esoiii'ces aiid applicatioii of resoiirces, incliiding its incoine and expenditiii'e, foi. the year
tlien elided.
liave beeii pi'operly pi'epai'ed in accordance witli Uiiited Icingdom Geiiei'ally Accepted Accoiiiiting
Pi'actice. and
liave been prepai'ed in accoi'daiice with tlie i-eqiiii'einents of the Charities Act 2011,
Basis foi" opinion
We coiidiicted OLir aiidit in accoi'dance with Ii)teriiational Standai'ds 011 Aiiditin(r (UK) (ISAS (UK)) aiid
applicable law. OLII. responsibilities Lll)dei- those standai'ds al-e fiiitliei. described in tlie Aiiditor's
I'esponsibilities for tl)e aiidit of tl)e financial stateineiits section of OLir report. We al'e independent of tlie
charity in accoi'dan¢¢ witli th¢ etliical I'equii'einents tliat are relevant to Olir aiidit of tlie financial stateineiits
in tlie UK, iiicliiding tlie FRC'S Etliical Standai'd, aiid we have fLilfilled OLII. Otlier etliical i-espoiisibilities iii
accoi'daiic¢ witli these i-eqiiireilleiits. We believe tliat tlie aiidit evidence we liave obtained is siifficient and
appi'opriate to pi-ovide a basis foi. oiii. opiiiioii.
Conclusions relating to going eoneei'n
In aLiditing the fiiiaiicial statements, we have coiicluded that tl)e ti'ustees, use of tlie goiiig concei-n basis of
accoiinting iii the pi-eparation of the fiiiancial stateiiients is appi'opriate.
Based on tlie work we have perfoi'med, we liave iiot ideiitified any Inatei-ial Lincertainties i'elatiiig to events
oi. coiiditioiis tl)at, ii)dividLially oi. collectively, Inay cast sigiiificaiit doubt oii the cliarily's ability to
coiItIllLie as a going coiicerii for a pei-iod of at least twelve montlis from wheii the finaiicial stateinents al'e
aiithoi'ised foi- issiie.
Oui- respoiisibilities and tlie responsibilities of the tl'LlStees witli respect to going concei'n are described in
the I'elevant sections of this report.
Other xnfoi'mation
Tlie othei- iiifoi'imation coinpi-ises tlie infoi'ination incliided in the trustees, annLial i-eport, othei. thali the
fiiiancial stateinei)ts and oiir aiiditoi s repoi-t thei'eon. The ti'ustees are respoiisible foi- tli¢ othei. infoi'ination
coiitained witliin the aiiniial report. Oiir opiiiion on tlie fiiiancial statements does not cover the otliei.
infoi-lnation and, except to tlie exteiit otliei'wise explicitly stated in oiir I'epoi't, we do not expi-ess aiiy forin
of assiii'ance coiiclusion thei'eon.

INDIPENDENT AUDIT()II'S REPORT TO THE TRUSTEII S OF'fiiE,: FOOTIIALL
ASSOCIATI()N Bri Nl,:VOLfi.NT FUND {COIYTIIYUED)
Oui. i'espoiTrsibil ity is to read tlie otlier iiiforination aiid, in doing so, coiisidei. whetliei. the otlier inforination
is matei-ially iiiconsisteiit witli tlie finaiicial stateineiits or oiir knowledge obiaiiied iii tlie coiii'se of tlie aiidit
oi. otliei'wise appeal's to bc matei'ially Inisstat¢d.
If we ideiitify SLiclI Inatei'ial iiiconsisteiicies oi. apparent Inatei'ial misstaleineiits, we al'e i-eqLllI'ed to
detei'miiie wlietliei. tliis gives rise lo a matei'ial misstaleineiit in tlie financial staleinents tliemselves. If,
based 011 tlic woi'k we liave perforined, we coiielude tliat tliei'e is a matei'ial Inisstateiiient of tliis other
infoi'ination, we al'e I'eqiiired to I'eport that fact.
We have nothing to report in tliis regard.
Matters on which we are require(I to report by exception
We liave iiothiiig to report in respect of the following Inatters in relation to which the Charities (Accoiints
and R¢ports) Regulations 2008 reqiiire lis to report to yoii if, in our opinion:
the infom]ation given in the financial stateillents is inconsistent in any Inaterial respect with tlie trustees,
repoil. or
tlie charity lias i)oi kept adeqiiate accoiinting iEcords' or
the financial stateinents air Iiot in agreeineiit with the accounting records aiid i'eliirns. or
we have not received all the inforiiiatioii and explaiiations we i-equii-e for our aiidit.
Responsibilities of trii.stee$
As explaiiied moi'L fiilly in the ti'iistees, i'esponsibilities stateinent set out on page 2, tlie ti'ustees are
responsible foi. the pi'eparation of fiiiancial statements aiid for beiiig saligfied tliey give a tl'Lie aiid fair view,
aiid for sucli intei'iial coiiti'ol as the tl'LlStees d¢t¢i'mine is neccssai'y to enable tlie prLpai'ation of financial
stateinents tliat are free froin matei-ial In isstatemcnt, wlietliei- due to fi'aLid or eri'oi,.
In pi'epariiig tlie fiiiancial stateinents, the trustees are responsible foi. assessing tlie cliai'ity's ability to
continiie as a going concern, disclosing, as applicable, matters i'elated to going concei'n aiid using the going
concei'n basis of accoLintiiig iinless the trustees eithei. iiitend to liqiiidate the cliarity or lo ccase i)perations, or
have no realistic alternative biit to do so.
Auditor's responsibilities for the au(lit of the financial statements
We have been appointed as aiiditor linder section 145 of the Charities Act 2011 and report in accordance
with regulations made ui)der section l 54 of ihat Act.
Our objectives are to obtain IEasonable assurance about wlicther the financial slatcments as a whole are free
from matei'ial misstatement, whetlier diie to fraud or error, and to issue an auditor's report tliat incliides oui.
opiiiion. Reasonable as.sui'aiice is a high level of assiirance but is not a giiai'anlee that an audit conducted in
accordaii¢¢ with ISAS (UK) will always delect a material misstatement wlien it exists. Misstateinents can
arise fi-oin fi'aud oi. eri'oi. and are considered Inatei'ial if, individually or iii the aggi'egate, tliey could
i'easonably be expcctcd to influ¢ii¢e tlie econoinic decisions of usei's takeii based oil tliese finaiicial
statetnents.
IrregLilai'ities, iiiclLiding fraLid, al'e iiistances of non-compliance witli laws aiid t'egu lations. We design
procedlires iii liiie witli OLII. responsibi lities, oiitlined above, to detect matei'ial Inisstateinents in I'espect
of iri'egularities, incliidiiig fi'aiid. The exteiit to which our procedures al'e capable of detecting
irregularities, including fi'aLid is detailed below:

INDEIPEINDENT AUDITOR'S RLIPORT TO THE TRUSTEI s ofi THE fiOOTBALL
ASSOCIATION BEI NEI VOLEI NT f4UND (CONTINUII D)
Tlie cliaj'ity is siibject to laws ai)d i'egiilatioiis tliat directly and iiidii'ectly affect tlie fiiiaiicial stateiiiejits. Based
on our iindei-staiidiii(y of tlie chai-ity aiid tlie envii'oiiineiit in wliicli it 01)ei-ates, we detei-miiied tliat tlie laws aiid
regulalions wliicli wel'e inost sigiiificaiit iiicliided the Cliai'ities Act 201 l. We coiisidei-ed tlie exteiit to wliich
iioii-ooinpliaiice witli laws aiid i-egulations iniglit Iiave a iiiaterial effect oil tlie fiiiaiicial stateineiits, iiicliiding
liow fi'aiid Iniglit occiii-. We evaluated the iiiceiitives aiid oppoi-tiiiiities foi- fi-aiiduleiit iiiai)ipiilatioii of tlie
fiiiaiicial stateineiits (iiicludiiig tlie i'isk of oveii'ide of coiitJ'ols} aiid detei'iiiined tliat tlie pi-iiicipal i'isk i'elated to
gi'aiits being paid to iiidividuals wlio do iiot ineet tlie stated objectives of tlie Cliai-ity.
Aiidit pi'ocedui'es pei'foi-lned by tlie eiigageineiit teaTn iiicliided:
Disciissioiis witli maiiageineiit to obtaiii an iindei'staiiding of tlie legal aiid i-egulatoi'y fraiiieivork
applicable to tlie cliai-ity and Iiow it eiisui'es Goinpliaiice, iiicludiiig consideratioii of known oi.
suspected iiistaiices of noii-coinpliaiice with laws and i'egiilatioiis aiid fraud.
Reviewing docuinelitatioii to eiisui-e tliei-e is no evidence of Iioii-coinpliaii¢¢ witli laws aiid regulatioiis.
Reviewing iniiiutes of Ti'iistees meetiiigs.
Ideiitifying aiid assessiiig tlie effectiveiiess of iiiteriial conti'ols in place to Initigate risks of fi'aiid and
Iioii-coillpliaiice witli laws aiid i'egiilatioiis wliicli iiicliides tests desigiied to eiisure gi'ant claiins are
pi-operly vetted and appropi-iately aiitliorised.
EIiquii'ii](F of iiiaiiageineiit as to actiial and poteiitial litigatioii aiid claiins.
Ideiitifyiiig ai)d testiiig joiiriial eiitries, iii pai-ticiilai- any joui-iial eiitries posted witli iiiiiisiial a¢couiit
coinbinatioiis.
Tliere are inliei'ent limitatioiis iii the audit procedures desci'ibed above aiid tlie iiioi'e i'einoved Iioii-coinpliaiice
with laws and regulatioiis is from tlie eveiits aiid ti'ansactions i'eflected iii tlie fiiiaiicial stateineiits, tlie less
likely we al-e to become aware of it. Also, tlie I'isk of Iiot detecting a inaterial misstatement diie to fi'aud is
l)igliei- t11￿1 the risk of iiot detecting one resulting fi'oin eri-oi-, as fi'aiid inay iiivolve delkbei'ate concealtnent by,
foi. example, foi'gery oi. iiiteiitioiial inisrepresentatioii oi. tlll'oligli colliisioii.
A fuitliei. desci'iptioii of our i'esponsibilities foi- tlie audit of tlie fiiiaiiGial stateinents is located 011 tlie Fiiiaiicial
Reporting Coiincil's website at wwiv.frc.org.uklauditoi.srespoiisibilities This desci-iptioii foi'ins pai-t of oui.
Report of the Aiiditors.
Use of our i'epoj't
Tliis i-eport is inade solely to tlie cliai'ity's ti'ustees, as a body, iii accoi'daiice witli Pai't 4 of the Cliai'ities
(Accouiits aiid Repoi-ts) Regulations 2008. Oiir aiidit woi-k lias beeii uiidertakeii so iliat we iniglit state to tlie
cliai-ity's trustees tliose iiiatters we al'e i-eqiiii-ed to state to tliein in ali auditor's i'epoi't and foi. iio otlier pui'pose.
To tlie fiillest exteiit pei-lnitted by law, we do iiot accept or assiime i-espoiisibility to anyoiie otlier tliaii tlie
cliai'ity and tlie chai'ity's trustees as a body, foi. oui. aiidit woi'k, foi. this repoi't, or foi. the opiiiions we liave
foi-lned.
Roddis Taylor Ro
Cliartered Accoiiiitaiits
Statutoiy Aiiditoi-
Unit 6 Acokii Busiiiess Pai'k
Woodseats Close
Slieffield
S8 OTB
soil
31 Octobei. 2024
Roddis Tayloi. Robiiison is eligible to act as an auditor in tei'ins of section 1212 of tlie Coinpaiiies Act 2006.

THE F(OOTBALL ASSOCIATION BENEI VOLENT FUND
STATEI MEI NT OF FtNANCIAL ACTIVITIfi S
FOR THE YCI AR EI NDEI D 31 DEI CEI MBEI R 2023
Uiii'estricted
Total
Total
2023
2022
Notes
INCOME
Investineiit iiicoine
Doiiations
139,117
109,622
TOTAL INCOME
139,117
109,622
I XPENDITURE
Cost of I'aising fiinds..
Investinent inaiiageinent fees
40,546
43,427
Cliat'itable activities:
Grants payable
82,597
86,074
Govei'iiance costs-
Manageinent and adininisti'ation
34,860
21,225
TOTAL EXPEI NDITURE
158,003
150,726
NET EI XPENDITURE BEFORE
GAINSI(LOSSES) ON IfivEI STMEI NTS
(18,886)
(41,104)
Net gai1is1(losses) on investineiit assets
368,510
(489,799)
NET MOVEMENT IN FUNDS
349,624
(530,903)
RECONCILIATION OF FUNDS
Flind balances bi'oLight foi'ward
5,535,733
6,066,636
Fiiiid balai)ces cari'ied forwai'd
5,885,357
5,535,733

THE fiOOTBALL ASSOCIATION BEI NE( VOLENT FUND
BALANCE SHEI Ei T AS AT 31 DEI CEI MBf.R 2023
Notes
Total f4 unds
2023
Total Fuii(Is
2022
FIXED ASSETS
Iiivestinents
5,723,783
5,246,825
CURRENT ASSII TS
Debtors
Casli at baiik
924
184,650
3,122
308,232
TOTAL CURREI NT ASSETS
185,574
311,354
CREI DITORS: AMOUNTS DUE
WITHll¥ ONE AR
24,000
22,446
NET CURRENT ASSETS
161,574
288,908
TOTAL ASSETS LEI SS
CURRENT LIABILITIES
5,885,357
5,535,733
NET ASSETS
5,885,357
5,535,733
FUNDS
UNRESTIIICTED INCOME FUNDS
Genei'al flind
5,885,357
5,535,733
Tlie Fiiiancial Statements wei'e approved by tli¢ Ti'iistees on 30 Octobei. 2024 and wei'e sigiied oil theii.
belialf by:
G Tl)ompson
M Leggett

THE FOOTBALL ASSOCIATION BE( NEI VOLEI NT fl UND
NOTES TO THE ACCOUNTS
FOR THE YEI AR Il NDED 31 DEI CEI MBER 2023
ACCOUNTll¥G POLICIEI S
The accouiits 111( ve beeii pi-epared linder tlie histoi'ical cost coi)veiitioii witli iteins I'ecogiiised at
cost oi. ti-aiisactioii valiie uiiless othei'wise stated iii tlie i-elevaiit notes to these accoiiiits.
Tlie cl)ai'ity constitLltes a piiblic benefit entity as defined by fRS 102. The financial stateinents
liave beeii pi'epared iii c1CCOI-daiice with Aceouiiting aiid Repoi'ting by Cliarities.. Stateinent of
Recoininended Pi'actice applicable to cliarities pi'epai'itig theii. accoiiiits iii accordance witl) the
Finaiicial Reporting Staiidai'd applicable in tlie UK and Repiiblic of Ii'elaiid issued in October
2019, tlie Finaiicial Reporting Standai'd applicable ii) tlie United Iciiigdoin and Repiiblic of Ireland
(FRS 102), the Cliai'ities Act 2011 and UK Genei'ally Accepted AccoLinting Pi'actice.
The finaiicial stateineiits have beeii prepai-ed to give a 'tl'Lie aiid fail view aiid liave departed from
tlie Cliai'ities (Accouiits and Repoits) RegLilatioi)s 2008 oiily to tlie extent reqiiired to provide a
'tl'Lie and fail. view,. This depaitLlI-e lias involved following tlie AccoLllltiiig aiid Reportiiig by
Cliarities: Statement of Recomineiided Pi'actice applicable to cliai'ities pi'eparing their accoiints in
accoi'daiice with tlie financial Reportiiig Staiidai'd applicable iii tlie UK ai)d Repiiblic of Ii'elaiid
(FRS 102) issiied iii October 2019 l-atlier than the AccoLintiiig and Reportiiig by Cliai-ities:
Statement of Recomiiieiided Pi'actice effective fi-oin l Api'il 2005 whicli lias sinc¢ been
withdi'awii.
The fiiiaiicial stateiJ)ents al'e pi-esented in sterling which is the fiiiaiicial ciii'lEncy of tlie Cliarity
aiid rouiided to tlie nearest £ l.
All grants, donatioiis and vollintai'y incoine al'e accoiinted for gross when receivable, as
long as tliey are capable of finaiicial Ineasiii-ement.
All expei)ditiire is accounted foi- gl'oss, oli an accriial's basis.
Direct cliai'itablc expenditLlI'e incliides tlie dii'ect costs of tlie activities.
Gi'ants payable al'e I'ecogiiised as expenditiii'e wheii an applicatioii lias beeii appi'oved
and tlie commitinent is entei'ed iiito. Wliei'e such a grant is to be paid over instalineTIts,
tlie OLltstanding balance is disclosed as a liability.
Debtoi's and ci-editoi-s al'e i'ecorded at transaction valiie.
Investments al'e initially i'ecogiiised at tlieii. ti'ansaction valiie and SLibseqLiently measiii'ed
at tlieii. mai'ket value as at tlie balaiice slieet date using the closiiig quoted Inai-ket price.
Tlie Stateinent of Fiiiancial Activities includes the iiet gaiiis aiid losses ai'ising on
revaliiatioii of disposals tlii-oiiglioiit the yeai..
Tlie cliai-ity does not acquire, oi. use put optioiis, dei'ivativ¢s oi. otliei. complex fiiiancial
investineiits.

THE FOOTBALL ASSOCIATION BEI NEVOLFNT fiUND
NOTES TO THEI ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DE4 cfl
MBER 2023
INVEI STMEI NT INCOME
2023
2022
Baiik iiitei'est I'eceivable
Iiicoine I'eceivable from UK listed investments
Income i'eceivable fi'oin UK uiilisted iiivestiiieiits
Incoine I'eceivable fi-oin overseas listed investments
Iiicoine I'¢ceivable fi-om overseas uiilisted investineiit
9,829
9,665
59,567
30,688
29,368
3,772
9,116
49,234
34,049
13,451
139,117
109,622
GRANTS PAYABLE
2023
2022
Payable to individiials
82,597
86,074
All the gi'ants air paid in accoi'dance witl) the Cliarity's pi'incipal objective as set oiit in the
Ti'LlStees Repoit.
MANAGEMEI NT AND ADMll4llSTRATION COSTS
2023
2022
Baiik charges
Aiidit fees
Other siippoit costs
360
3,150
31,350
3,150
18,075
34,860
21,225
10

THE FOOTBALL ASSOCIATION BEI NEI VOLINT fuND
NOTES TO THE ACCOUNTS (CONTINUEI D)
r4OR THE YEI AR E( NDED 31 DE4 CE( MBER 2023
INVEI STMEI NTS
2023
2022
Mai'ket valiie as at l Jaiiiiaiy
Additions
Disposal pi'oceeds
Net iiivestineiit gaiiis/(losses)
5,246,825 5,571,413
2,667,131
2,634,388
(2,558,683) (2,469,177)
368,510
(489,799)
Mai'ket valiic as at 31 Deceinbei.
5,723,783
5,246,825
liivestiiienls are i'epresented by..
UK listed investinents
UK Liiilisted investinents
Ovei'seas listed investments
Ovei'seas uiilisted ii)vestineiits
273,369
278,731
2,705,978 2,549,875
2,110,718
1,821,297
633,718
596,922
5,723,783 5,246,825
DEBTORS
2023
2022
Otliei. debtoi's
Prepaynieiits
Accriied iiicoine
800
2,812
310
124
924
3,122
CREDITORS: AIVIOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Gi'aiits payable
A¢ci'iials
250
23,750
4,984
17,462
24,000
22,446

THE f4OOTBALL ASSOCIATION BEI Nli VOLENT FUND
NOTEI S TO THE ACCOUNTS (CONTINUED)
ri OR THE YEI AR EI NDID 31 DEI CEI MBEI R 2023
FUND REI CONCILIATION
Balaiice at
l Janiiaiy 2023
Gaiiis/
ExpeiiditLlI'e (Losses)
Balaiice at
31 Deceinbei. 2023
Iiicome
Unresti'icted 5,472,733
(Gei)eral)
Designated
139,117 (158,003)
368,510
5,822,357
63,000
63,000
5,535,733
139,117 (158,003)
368,510
5,885,357
Fuiid (lesci'iptions
Uni-esti'icted {geiiei'al)
Geiiei'al fiiiids are iiiii'esti-icted fiiiids wliicli are available foi. iise at tlie disci'etion of tlie Trustees in
fiii-tliei'ance of tlie general objectives of tlie cliai'ity and whicli have iiot been designated foi. othei.
piii-poses.
Designated
Ai) aiTiOLint of £150,000 was designated to siipport the playei's aiid families of tlie 1966 Woi'ld Clip
Sqiiad wlio l)ave encoiiiitered fiiiaiicial hardsliip. No gi-aiits wei'e awarded diii'ing the yeai. elided 31
Deceinbei. 2023 fi'om tliese fiiiids (2022: iioiie} tlie total to date aiiioLlllts to £87,000.
RELATED PARTIES
No Ti-iistee oi. connected person i'eceived any I'einuneration either dii'ectly or indirectly.
No Ti-LlStee received any i'eimbui'sed expenses.
No indeiniiity iiisiii-aiice was pui-chased diii'iiig tlie yeai..
Thei'e is no ultiinate conti'olling pai-ty.
Tlie Football Association Benevolent Fiind and Football Association Liinited are coiisidei'ed to be
I'elated parties diie to liaviiig senioi. officials in coinmon. Thei'e wei'e no h'ansactioiis witli Tlic
Football Associatioii Liinited in tlie yeai..
12