Tn*tees' knnual Rep￿ & Finw*ial Stal
2022
FINANCIAL
STATEMENTS
45

Irish FA Found*ion Limited
STATEMENT OF TRUSTEES,
RESPONSIBILITIES
The trustees 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 Accounting Practice).
The law applicable to charities in
STATEMENT OF DISCLOSURE
Northern Ireland requires the trustees OF INFORMATION TO
to prepare financial statements
for each financial year which give
AUDITORS
a true and fair view of the state of
affairs of the Foundation and of the
incoming resources and application
of resources of the Foundation 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
Makejudgments and estimates
that are reasonable and prudent
State whether applicable
accounting standards, comprising
FRS102, have been followed,
subject to any material departures
disclosed and explained in the
financial statements
In so far as the trustees are aware
There is no relevant audit
information of which the
Foundation's auditor is unaware
The Trustees have taken all steps
that they ought to have taken to
make themselves aware of any
relevant audit information and to
establish that the auditor is aware
of that information
INDEPENDENT AUDITORS
The auditors,
Pricewaterhousecoopers LLP, have
indicated their willingness to remain
in office and a resolution for their
reylection will be proposed at the
forthcoming Annual General Meeting
The trustees. report was approved by
the Board of Trustees and signed on
their behalf.
Prepare the financial statements
on the going concern basis unless
it is inappropriate to presume that
the Foundation will continue in
business
David Martin
Trustee and Chairman
Date.. 20 April 2023
The trustees are responsible for
keeping proper accounting records
that disclose with reasonable
accuracy at any time the financial
position of the Foundation and enable
them to ensure that the financial
statements comply with the Charities
Act (Northern Ireland) 2008. They are
also responsible for safeguarding the
assets of the Foundation and hence
for taking reasonable steps for the
prevention and detection of fraud and
other irregularities.
46

Tnthees. knnual Rep￿ & Fin**ial
2022
INDEPENDENT AUDITORS,
REPORT TO THE MEMBERS OF
IRISH FA FOUNDATION LIMITED
Report on the audit of the financial statements
OPINION
In our opinion, Irish FA Foundation
Limited s financial statements (the
"financial statements J:
give a true and fair view of the state
of the charitable company's affairs
We remained independent ofthe
as at 31 December 2022 and of its
charitable company in accordance
incoming resources and application Wlth the ethical requirements that are
of resources, Including its income
relevant to our audit of the financial
and expenditure, and cash flows.
statements in the UK, which includes
for the year then ended,
the FRCS Ethical Standard and
we have fulfilled our other ethical
have been properly prepared in
responsibilities in accordance with
accordance with United Kingdom
these requirements
Generally Accepted Accounting
Practice (United Kingdom
Accounting Standards, including
102 "The Financial Reporting
Standard applicable in the UK and
Republic of Ireland" and applicable
law),. and
have been prepared in accordance
with the requirements of the
Companies Act 2006.
We have audited the financial
statements, included within the
Annual Report and Financial
Statements (the 'Annual Report).
which comprise: the Charity
balance sheet as at 31 December
2022, the statement of financial
activities (including Income and
expenditure account) and the
statement of cash flow for the year
then ended and the notes to the
financial statements, which include
the accounting policies.
sufficient and appropriate to provide
a basis for our opinion.
statements and our auditors,
report thereon. The trustees
are responsible for the other
information. Our opinion on the
financial statements does not
cover the other information and,
accordingly, we do not express
an audit opinion or, except to
the extent otherwise explicitly
stated in this report, any form of
assurance thereon.
INDEPENDENCE
In connection with our audit
of the financial statements,
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 in the
audit, or otherwise appears to be
materially misstated. If we identify
an apparent material inconsistency
or material misstatement, we are
required to perform procedures
to conclude whether there is a
material misstatement of the
In auditing the financial statements.
financial statements or a material
we have concluded that the trustees,
misstatement ofthe other
use of the going concern basis of
information. If, based on the work
accounting in the preparation of the
we have performed, we conclude
financial statements is appropriate.
that there is a material misstatement
of this other information, we are
However. because not all future
iequired to report that fact. We have
events or conditions can be predicted, nothing to report based on these
this conclusion is not a guarantee as
responsibilities.
to the charitable companls ability to
continue as a going concern.
With respect to the Trustees, Annual
Report, we also considered whether
Our responsibilities and the
the disclosures required by the UK
responsibilities of the trustees
Companies Act 2006 and Charities
with respect to going concern are
Act 2011 have been included.
described in the relevant sections of
this report.
CONCLUSIONS RELATING TO
GOING CONCERN
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 charitable companys
abilityto continue as a going concern
for a period of at least twelve months
from the date on which the financial
statements are authorised for issue.
BASIS FOR OPINION
We conducted our audit in
accordance with International
Standards on Auditing (UK) ('ISAs
(UK).) and applicable18w. Our
responsibilities under ISAS (UK) are
further described in the ALJditors'
responsibilities for the audit of
the financial statements section
of our report We believe that the
audit evidence we have obtained is
Based on our work undertaken in the
course of the audit, the Companies
Act 2006 requires us also to report
certain opinions and matters as
described below.
REPORTING ON OTHER
INFORMATION
The other information comprises
all of the information in the Annual
Report other than the financial
47

Irish FA Found*ion Limited
TRUSTEES, ANNUAL REPORT
either intend to liquidate the
charitable company or to cease
operations. or have rlo realistic
alternative but to do so.
Regulations (Northern Ireland)
2015. We evaluated management's
incentives and opportunities for
fraudulent manipulation of the
financial statements (including the
risk of override of controls) and
determined that the principal risks
were related to posting inappropriate
journal entries to manipulate
financial results, including the
recognition of incoming resources,
and management bias in accounting
estimates or significant judgements.
Audit procedures performed included..
Identifying and testing journal
entries, in particular anyjournal
entries posted with unusual
account combinations.,
In our opinion, based on the work
undertaken in the course of the audit
the information given in the Trustees,
Annual Report forthe year ended 31
December 2022 is consistent with
the financial statements and has
been prepared in accordance with
applicable legal requirements.
In light of the knowledge and
understanding of the charitable
company and its environment
obtained in the course of the audit,
we did not identify any material
misstatements in the Trustees,
Annual Report.
AUDITORS. RESPONSIBILITIES
FOR THEAUDIT OFTHE
FINANCIAL STATEMENTS
Our objectives are to obtain
reasonable assurance about whether
the financial statements as a whole
are free from material misstatement,
whether due to fraud orerror, and to
issue an auditors, 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.
RESPONSIBILITIES FOR THE
FINANCIAL STATEMENTS AND
THE AUDIT
Assessed managements
compliance with the commitments
under their restricted funds.,
Discussions with management,
including consideration of
known or suspected instances
of noncompliance with laws and
regulations and fraud.,
Reviewing the charitable
company's litigation register as far
as it related to non-compliance with
laws and regulations and fraud., and
Reviewing relevant meeting
minutes, including those of the
Trustees
RESPONSIBILITIES OF
THE TRUSTEES FOR THE
FINANCIAL STATEMENTS
As explained more fully in
the Statement of Trustees,
responsibilities, the trustees
(who are also the directors of
the charitable company for the
purposes of company law) are
responsible for the preparation
of the financial statements in
accordance with the applicable
framework and for being satisfied
that they give a true and fair view.
The trustees are also responsible
for such internal control as they
determine is necessary to enable
the preparation of financial
statements that are free from
material misstatement, whether due
to fraud or error.
Irregularities, including fraud, are
instances of non£ompliance
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.
There are inherent limitations in the
audit procedures described above.
We are less likely to become aware
Based on our understanding ofthe
of instances of non-compliance
charitable company, we identified
with laws and regulations that are
that the principal risks of non-
not closely related to events and
compliance with laws and regulations
transactions reflected in financial
and we considered the extent to
statements Also, the risk of not
which non<ompliance might have
detecting a material misstatement
due to fraud is higher than the risk
a material effect on the financial
of not detecting one resulting from
statements. We also considered
those laws and regulations that
error, as fraud may involve deliberate
concealment by. for example, forgery
have a direct impact on the financial
or intentional misrepresentations or
statements such as the Companies
through collusion.
Act 2006. the Charities Act (Northern
Ireland) 2008 and Regulation (8) of
A further description of our
The Charities (Accounts and Reports) responsibilities for the audit of the
In preparing the financial
statements, the trustees are
responsible for assessing the
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
48

Tnthees. knnual Rep￿ & Fin**ial Stalements 2022
financial statements is located
on the FRCS website at.. www.frc.
org uk/auditorsresponsibilities.
This description forms part of our
auditors, report
ENTITLEMENTTO
EXEMPTIONS
Underthe Companies Act 2006 we
are required to report to you if, in our
opinion, the trUst￿S were not entitled
to.. prepare financial statements
in accordance with the small
companies, regime, take advantage
ofthe small companies. exemption
in preparing the Trustees, Annual
Report,. and take advantage of the
small companies exemption from
preparing a Strategic Report. We
have no ex￿p[lonS to report arising
from this responsibility.
USE OF THIS REPORT
This report, including the opinions,
has been prepared for and only for
the charitys members as a body in
accordance with Chapter 3 of Part 16
ofthe Companies Act 2006 and for
no other purpose. We do not, in giving
these opinions, accept or assume
responsibility for any other purpose
orto any other person to whom this
report is shown or into whose hands
it may come save where expressly
agreed by our prior consent in writing.
OTHER REQUIRED REPORTING
COMPANIES ACT 2006
EXCEPTION REPORTING
Martin Cowie
Senior Statutory Auditor
for and on behalf of
Pricewaterhousecoopers LLP
Chartered Accountants and Statutory
Auditors
Belfast
31 May 2023
Under the Companies Act 2006 we
are required to report to you if, in our
opinion..
we have not obtained all the
information and explanations we
require for our audit,. or
adequate accounting records have
not been kept or
certain disclosures of trustees,
remuneration specified by law are
not made,. or
the financial statements are not
in agreement with the accounting
records and returns.
We have no exceptions to report
arising from this responsibility.
49

Irish FA Found*ion Limited
STATEMENT OF
FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
for the year ended 31 December 2022
2022
2021
Reslricted
Funds
Total
FurKIs
2022
Un-
restricted
Funds
Total
Funds
2021
Restricted
Funds
Funds
Note
£000
£000
£000
Incomiry resources
Incoming resources from generated funds
Contributions from governing bodies
1.478
1.478
g3g
939
Coaching, education and training
526
526
515
515
Sponsorship incorne
312
312
218
218
Grant funding
1313
850
850
Income from othertrading activiiies
Income from othertrading activities
24
24
Total inwnirvj resour¢eslin¢ome
1103
75
2.007
539
2,546
Resources expÈiKledlexpe￿lltUre
(*barilable activities
(3289)
{3.289)
12,1731
12,1731
Swport costs
(269)
(269)
12ggi
129gi
Total re$ources expethleXpendr￿ye
(3,558)
{3.558)
12,4721
12.4721
Net loutgoingllincornirwJ resources before trans
(455)
117
14651
53g
74
Transfer be￿een funds
{455)
465
14651
Net movement in funds
74
74
Reconciliation of funds
Tol81 funds brought forward
1.536
1.536
1,462
1,462
Total fwKIs cwried forward
ifi53
1,536
1,536
The statement of financial activities includes all gains and losses recognised in the year.
All irlcome and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
50

Tnthees. knnual Rep￿ & Fin**ial Stalements 2022
CHARITY
BALANCE SHEET
Registered No. N1642595
at 31 December 2022
2022
2021
Note
£000
£000
Current assets
Debtors
2.373
2,591
Cash and cash equivalents
122
2,495
3,232
Creditors= amounts falling due within one year
1842)
11.6961
Net current assets
1,653
1,536
Net as$et$
1.653
1.536
The funds of the Charity
Unrestricted funds
1.653
1,536
Flestricted funds
Total funds
1.653
1,536
The notes on pages 53 to 59 are an integral part of these financial statements.
The financial statements on pages 50 to 59 were approved bythe trustees on 20 April 2023 and were signed on
its behalf by.
David Martin
Trustee and Chairperson
Date= 20 April 2023
51

Irish FA Found*ion Limited
STATEMENT
OF CASH FLOW
for the year ended 31 December 2022
2022
2021
£000
£000
Cash generated from opwating activities
Net outgoing/lincoming1 resources before Iranslers
117
74
Movement In debtors
218
15951
Movement In creditors
(854)
851
Cash inflowl{outflow) from operating activities
Cash and cash equivalentg at the beginning of the year
Total cash and ¢ash equivalents al the end of ihe year
(519)
330
641
311
122
641
2022
2021
£000
Cash and cash equivalents consists of=
Cash and cash equivalentg
122
641
Total cash and ¢ash equivalents at end of the year
122
641
52

Tnthees. knnual Rep￿ & Fin**ial
NOTES TO THE
FINANCIAL STATEMENTS
for the year ended 31 December 2022
I. ACCOUNTING POLICIES
statements. Thus, the trustees
continue to adopt the going concern
basis of accounting in preparing the
accounts.
that assist the work of the
Foundation but do not directly
undertake charitable activities
The Irish FA Foundation Limited
is a private company limited by
guarantee, incorporated in Northern
Ireland. The registered office Is the
National Football Stadium at Windsor
Park, Donegall Avenue, Belfast,
BT12 6LU.
Charitable expenditure comprises
those costs incurred by the
Foundation in the delivery of its
activities and services for its
beneficiaries. It includes both costs
that can be allocated directly to
such activities and those costs of an
indirect nature necessary to supply
them. Support costs are allocated to
their relevant activity based on the
income re￿Ived.
c) Incoming resources
Income is recognised when the
Foundation is legally entitled to it
after any performance conditions
have been met, the amounts can be
measured reliably, and it is probable
that income will be received.
The principal accounting policies
adopted, judgements and key
sources ofestimation uncertainty
In the preparation of the financial
statements are as follows..
Donations are recognised on receipt
Other donations are recognised once
the Foundation has been notified of
the donation, unless performance
conditions require deferral of the
amount. Income tax recoverable
in relation to donations received
under gift aid or deeds of covenant
is recognised at the time of the
donation.
a) Basis of Preparation
The Foundation's 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 Flepublic of Ireland (FRS 102)
effective l January 2015 {Ch8rities
SORP (FRS 102) and the Companies
Act 2006.
Pension Costs
The Foundation operates a
defined contribution scheme
for its employees. Contributions
are charged to the statement of
financial activities in the period to
which they relate.
e) Fund accounting
The Foundation has various types of
funds for which it its responsible and
which require specific disclosure. A
definition of the different types is as
follows.
On receipt, donated facilities or gifts
in kind are recognised on the basis of
the value of the gift to the Foundation
which is the amount the Foundation
would be willing to pay to obtain
Irish FA Foundation Limited meets
services and facilities of equivalent
the definition of a public benefit entity
economic benefit on the open
under FRS 102. Assets and liabilities
market. a corresponding amount is
are Initially recognised at historical
then recognised in expenditure in the
cost and transaction value unless
period of receipt.
otherwise stated in the relevant
Income from government and other
accounting policy note(s). The
grants, whether'capital, or'revenue.
financial statements are prepared
grants, is recognised when the
on a going concern basis. Taking
Foundation has entitlement to the
account of the risk review undertaken
funds. any performance conditions
by the Trustees they do not consider
attached to the grant have been meL
there to be a risk to the going concern It is probable that the income will
status of the Foundation.
be received and the amount can be
b) Going concem
measured reliably.
At the time of approving the
d) Resources expended
accounts, the trustees have a
Expenditure is recognised once there
reasonable expectation that the
is a legal or constructive obligation
Foundation has adequate resources
to make a payment to a third party.
to continue in operational existence
it is probable that settlement will
for the foreseeable future and it is not be required and the amount of the
anticipated that significant losses
obligation can be measured reliably.
will be Incurred over the period of 12
months from signing the financial
Support costs are those functions
Restricted Funds
Restricted funds are to be used for
specified purposes as laid down by
the donor. Expenditure which meets
these criteria is charged to the fund,
together with a fair allocation of
overheads and support costs.
Unrestricted Funds
Funds which are expendable at
the discretion of the Foundation in
furtherance ofthe purpose of the
charity In addition to expenditure on
activities, such funds may be held in
order to finance capital investment
and working capital.
f) Cash and cash equivalents
Cash and cash equivalents Includes
cash in hand, deposits held at call
with banks
53

Irish FA Found*ion Limited
I. ACCOUNTING POLICIES
(continued)
g) Foreign currency
Foreign exchange gains and losses
resulting from the settlement of
transactions and from the translation
at period- end exchange rates of
monetary assets and liabilities
denominated in foreign currencies
are recognised in the Statement of
Financial Activities.
i) Financial instNments
The Foundation has elected to apply
the provisions of Section I I 'Basic
Financial Instruments. and Section 12 Trade creditors are obligations to pay
'Other Financial Instruments Issues,
for goods or services that have been
of FRS 102 to all of its financial
acquired in the ordinary course of
instruments.
operations from suppliers. Amounts
payable are classified as current
liabilities if payment is due within one
year or less. If not, they are presented
as non-current liabilities. Trade
creditors are recognised initially at
transaction price and subsequently
Financial assets and liabilities
measured at amortised cost using
are offset. with the net amounts
the effective interest method.
presented in the financial statements, 2. CRITICAL ACCOUNTING
when there is a legally enforceable
JUDGEMENTS AND
right to set off the recognised
ESTIMATION UNCERTAINTY
amounts and there is an intention
to settle on a net basis or to realise
the asset and settle the liability
simultaneously.
Basic financial assets
Debt instruments are subsequently
carried at amortised cost, using the
effective interest rate method.
Financial instruments are recognised
in the Foundation's balance sheet
when the Foundation becomes party
to the contractual provisions of the
instrument.
Foreign exchange gains and losses
that relate to borrowings and cash
and cash equivalents are presented in
the Statement of Financial Activities.
Foreign currency transactions
are translated into the functional
currency using the spot exchange
rates at the dates of the transactions.
At each period end foreign currency
monetary items are translated using
the closing rate.
h) Grants payable
Grants are recoqnised in the
accounts as liabilities after they
have been approved by the trustees
even if there are conditions attached
to them. This is because there is a
valid expectation by the recipients
that they will receive the grant.
Where a grant is awarded for a
period of greater than one year.
future instalments of which are
subject to satisfactory reports
to the Foundation, the future
grant Instalments are Included
in commitments but are not
recognised in the accounts until
satisfactory reports are received.
This is because the terms on which
these grants are awarded do not
create a valid expectation of receipt
until the Foundation's trustees are
satisfied with the reports received
on the use made ofthe previous
year's instalments
Estimates and judgments are
continually evaluated and are based
on historical experience and other
factors, including expectations of
future events that are believed to be
reasonable under the circumstances.
Basic financial assets, which include
debtors and cash and bank balances.
are initially measured at transactior)
Criticaljudgements in applying the
price including transaction costs
entitys accounting policies.
and are subsequently carried at
There are no critical judgements in
amortised cost using the effective
applying the Foundation s accounting
interest method unless the
policies
arrangement constitutes a financing
transaction, where the transaction
Critical accounting estimates and
assumptions.
is measured at the present value
of the future receipts discounted at
There are no critical estimates and
a market rate of interest. Financial
assumptions.
assets classified as receivable within 3. LEGAL STATUS OF THE
one year are not amortised.
FOUNDATION
Basic financial liabilities
The Foundation is a company limited
by guarantee and has no share
capital. The liability of each member
in the event of winding-up is limited
to£l.
Basic financial liabilities, including
creditors and bank loans are initially
recognised at transaction price
unless the arrangement constitutes
a financing transaction, where the
debt instrument is measured at the
present value of the future receipts
discounted at a market rate of
interest. Financial liabilities classified
as payable within one yearare not
amortised.
54

Tnthees. knnual Rep￿ & Fin**ial
4. INCOMING RESOURCES FROM GENERATED FUNDS
2022
2021
£000
£000
Contributions from football governing bodies
Coaching, education & training
Sponsorship Income
Grant funding
Total
1,478
939
526
515
312
218
1.313
850
3,629
2,522
5. INCOME FROM OTHER TRADING AcfiviTIES
2022
2021
£000
£000
Other income
46
24
6. CHARITABLE ACTIVITIES EXPENDITURE
2022
2021
£000
£000
Wages and salaries
Events & competitions
Equipment & facilities
Grants provided
Total
1.607
1,518
958
288
526
205
198
162
3.289
2,173
7. SUPPORT COSTS EXPENDITURE
2022
2021
£000
£000
Wages and salaries
Administration & professional fees
ioi
148
198
Total
269
299
55

Irish FA Found*ion Limited
8. NET (OUTGOING)/INCOMING RESOURCES
2022
2021
£000
£000
This is slated after charging:
Salaries
1,482
1,410
Social security costs
Other pension costs
Staff costs
142
125
104
84
1,728
1,619
9. EMPLOYEES AND DIRECTORS
Employees
The average monthly number of employees employed by the Foundation during the year was.
2022
2021
Number
Number
Average
57
59
Trustees
During the year no trustee received any emoluments (2021- £Nil).
Key management compensation
The compensation paid or payable to key management for employee services is shown below
2022
2021
£000
£000
F(ey manaqement compensation
£155k of Key Management Compensation was paid, and the charge borne. by ihe Irish Football Association
(2021 . £120k).
232
175
56

Tnthees. knnual Rep￿ & Fin**ial Stalements 2022
10. DEBTORS
2022
2021
£000
£000
Trade debtors
2,067
2,403
Prepayments and accrued income
Total
306
188
2.373
2,591
I I. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
2021
£000
£000
Trade Creditors
78
166
Accruals and deferred income
697
1,498
Other taxation and social security
Total
67
32
842
1,696
Deferred income relates to fundraising income and contributions from governing bodies recognised over more than one
financial year in accordance with the accounting policy stated in note l.
12. DEFERRED INCOME
At
l January
2022
Amounls
released in
the year
Additional
provisions
made
At
31 December
2022
£000
£000
£000
£000
Contributions from football
governing bodies
589
(262)
81
408
Coaching, education & training
Sponsorship income
Grant fLJnding
Total
(8)
(293)
(1.251)
(1.814)
27
27
82
260
49
669
691
109
1,348
1.059
593
57

Irish FA Found*ion Limited
13. FINANCIAL INSTRUMENTS
The Foundation has the following financial instruments-
2022
2021
£000
£000
Financial assets held at amortised cost
Trade debtors
2.067
2,403
Accrued income
165
118
Tolal
2,232
2,521
Financial liabilities held at amortised cost
Trade creditors
78
166
Accruals
104
150
Total
182
316
14. TAXATION
The Foundation is a registered charity and, as such. is entitled to certain tax exemptions on income and profits from
investments and surpluses on any trading activities carried on in furtherance of the Foundation's primary objectives, if
these profits and surpluses are applied solely for charitable purposes.
15. ANALYSIS OF CHARITABLE FUNDS
UnreslTiCted Funds
£000
At l January 2022
Coaching, education and training
Other trading activities
Net outgoing resources before transfers
Transfer to restricted funds
1.536
526
46
(455)
1.653
At 31 December 2022
58

Tnthees. knnual Rep￿ & Fin**ial Stalements 2022
15. ANALYSIS OF CHARITABLE FUNDS (continued)
Restricted Funds
£000
At l January 2022
Contributions from governing bodies
Sponsorship income
Grant funding
Net outgoing resources before transfers
Transfer from unrestricted funds
1,478
312
1.313
(3.558)
455
Al 31 December 2022
A transfer between funds is performed to relocate sufficient unrestricted funds to ensure that there is no overspend on
the restricted fund for the year.
16. ANALYSIS OF NEfASSETS BETWEEN FUNDS
Restrithed
Funds
Unrestricted
Funds
Total
Funds
£000
£000
£000
Net current assets
1,653
1,653
Total
1,653
1,653
17. RELATED PARTY TRANSACTIONS AND ULTIMATE CONTROLLING PARTY
Transactions with related parties included..
Transactions with the Irish Football Association Limited of £l.035k (2021. £1,265k)
Grant funding of £500k from Irish Football Association released in 2022. with £1 Ook included in deferred income at
year-end12021'. £600k)
Amounts receivable at the year-end of £2,025k (2021.. £1,971 k) due from the Irish Football Association Limited
Amounts payable at the yearend of £391 (2021.. £Nil) due to the IFA Stadium Development Company Limited
Purchases at normal market prices totalling £1,448 (2021. £455) were made from Tri-sport Trophies Limited, who are
controlled by a family memberof a current Director. The balanceoutstanding at 31 December 2022 was £NIl (2021..
£Nil).
18. LIABILITY OF MEMBERS
Irish Football Association Ltd is a company limited by guarantee The liability of the members is limited to an amount
not exceedinq £1.
19. FINANCIAL COMMITMENTS
There were no financial commitments as at 31 December 2022 (31 December 2021.. none).
59

Irish FA Found*ion Limited
Registered number.. N1642595
Charity Commission number. NIC 7 0622g
Inland RevenLJe Charity number. N1006 7 6
Directorstrrustees
David Martin (Chairman)
Patrick Nelson
Allen McKinstry
Ryan Adams
Clare McAuley
Alan Willis
Company Secretary
Rebekah Shearer
Registered Office
The National Football Stadium at Windsor Park
Donegall Avenue
Belfast
BTI 2 6LU
Bankers
Ulster Bank
91-93 University Road
Belfast
BT71NG
Solicitors
A&L Goodbody
42-46 Fountain Street
Belfast
BTI 5EF
King & Gowdy
2g8 Upper Newtownards Fload
Belfast
BT43EJ
Independent Auditors
Pricewaterhousecoopers LLP
Chartered Accountants and Statutory Auditors
Merchant Square
20-22 Wellington Place
Belfast
BTI 6GE
60

IRISH FA FOUNDATION LIMITED