�������������������� ������� ��� ������ � ����� �� � � **Charity registration number: SC045450 (Scotland)** ## **GLASGOW CITY FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS** ||Page| |---|---| |Trustees' report|2 - 6| |Independent examiner's report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|10–17| 1 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES’ REPORT** The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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 (FRS 102)". ## **Objectives and activities** The specific objectives of the charity as set out in its governing document are: - to advance health and wellbeing amongst girls and women - to advance public participation of girls and women in football - to advance education, learning and employability for girls and women - to promote equality and diversity - to provide recreational facilities, or to organise recreational activities, for community participation - the giving of grants or other forms of assistance to persons undertaking projects, initiatives and/or activities that further the above. The above encompass our overall mission to champion Women and Girls by using the power of football and sport to promote physical and mental health and well-being, active citizenship and inclusion within our community and places of interest. ## **Achievements and performance** ## **Glasgow City Academy** ## Academy Restructure In late 2024 the Board of Trustees of the Glasgow City Foundation conducted a lengthy and considered review of the Academy structure within the Foundation and the best way to utilise our funds. Several factors influenced this review: the number of providers of girls and women’s football has increased considerably since our founding: the Academy had been running at a considerable financial loss each year with the shortfall funded by a significant charitable donation; the introduction of the SFA NextGen Performance Programme in 2024 and the significant costs associated with this initiative. The decision was made to reduce the number of Academy teams and refocus priorities in accordance with Foundation aims to ensure that we can operate the full football pathway to the highest possible level; alongside providing access and opportunities to young girls. ## Strip Sponsorship Holyrood Asset Management continued their strip sponsorship for all our Academy teams in 2024. ## Sport Science Support A program of sports science support for all Academy teams was delivered by Athlete Focused (AF). Ageappropriate support includes fitness testing (profiling), nutrition and psychology. Our Next Gen teams had in person meetings which covered psychology, nutrition, strength and conditioning and female athlete advice. 2 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES’ REPORT** ## **Achievements and performance (continued)** ## The Football Base Partnership The Football Base partnership was introduced to the Academy in 2022. It is a highly developed online resource platform to help coaches plan, implement and evaluate football coaching sessions. In 2024 the curriculum was implemented by the coaches in the Junior Academy. ## School Holiday Football Camps The Foundation hosted three football camps for girls at our Academy training base at Glasgow Hutchesons' Aloysians’ Rugby Ground, during the Easter, Summer and October school holidays. Each camp had between 30-40 girls attending each event. Camps were led by Academy coaches who provided both fun and competitive football for girls between the ages of 5 and 14. In addition, a free summer camp was offered which was made possible by a grant from Scottish Gas which was matched by donations from individuals. ## Mindfulness Project/Sports Psychology Workshops The mindfulness project was designed to develop levels of psychological flexibility among Academy players and was rolled out to four teams. The programme, delivered in three sessions, provided players with the skills to allow them to be able to adapt to life challenges, while staying focussed on what truly matters. Following the success of our mindfulness sessions with our own Academy we expanded this project to local women’s football teams who would otherwise not benefit from this level of expertise and assistance within their own clubs. These sessions were delivered to Motherwell FC Women, Rossvale FC Women and Queens Park FC Women to enable the mental growth and development of the female players at their clubs. In total three sessions were provided to each club, either at the club’s own premises or those of Glasgow City if easier, working on such areas as ‘Using your Values’, ‘Getting Comfortable Being Uncomfortable’ and ‘Committing to Action’. ## Malawi The Foundation continued to support the Active Schools Glasgow initiative to send old training kits and match day strips to schools in Malawi. Another shipment of kits was sent to Malawi in 2024. We receive regular updates, via social media, showing young boys and girls wearing Glasgow City Academy kits in their PE lessons. ## Access to Glasgow City Football Club Thanks to the close relationship between the Foundation and Glasgow City Football Club, the charity was able to provide a large number of opportunities for the community to engage with one of the top women’s football teams in Scotland at no cost. This included the provision of over 200 opportunities for children to be flag bearers and ball girls at Glasgow City FC Scottish Women Premier League matches, along with access tickets to the wider local community. In total the Foundation supported the distribution of over 2000 tickets, with over a quarter of those targeted at the LGBTQI+ community, fostering inclusion and diversity. ## **Community Activities** ## Glasgow City Schools Project There are limited opportunities for young girls to play football in the north of Glasgow. In partnership with Barclays, Active Schools Glasgow and Glasgow Life; Glasgow City Foundation helped deliver a number of free football programmes for girls (P3 – P7). The programme, delivered weekly sessions in 8-week blocks, was led by Glasgow City Academy coaches to four primary schools in the Springburn area. 3 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES’ REPORT** ## **Achievements and performance (continued)** ## Network Rail In 2024 the Foundation re-launched our partnership with the Scottish FA and Network Rail to promote rail safety. Vital rail safety messages were delivered to all Academy players. These messages were also promoted through our various social media channels. This partnership will continue until December 2025. ## **Financial review** The Trustees are satisfied with the financial position of the charity and its ability to meet its ongoing commitments, after taking into account the financial risks and uncertainties detailed below. During the year, the charity received £326,437 (2023: £440,176) and incurred expenditure totalling £432,251 (2023: £456,500). ## _Reserves policy_ It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves should be maintained throughout the year. At the year end, the charity held free reserves of £54,660 (2023: £150,744) which amounts to two months expenditure and will therefore review areas where funding might be improved. ## **Plans for future periods** ## SFA NextGen Performance Programme Glasgow City Academy currently has U13s, U15s, U17s NextGen (Category 1 League Competition) squads for our most talented players in all three age categories. There are significant costs associated with this initiative and the Trustees will closely monitor developments in 2025 to make sure that there are sufficient funds to adapt to the changing football landscape in Scotland. ## Academy Restructure Trustees will monitor the operation of the Academy restructure and will review again at the end of the 2025 season. ## Legal Changes Glasgow City Foundation will be vigilant to ensure it is fully compliant with the changes brought about by the commencement of the Charities (Regulation and Administration) (Scotland) Act 2023 and the changes Disclosure Scotland will make to its services in 2025. 4 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES’ REPORT** ## **Plans for future periods (continued)** ## **Community Activities** We will continue to provide opportunities for women and girls in north Glasgow by working in partnership with the SFA, West Region, Active Schools Glasgow, Glasgow Life and Barclay’s to deliver free football programs for women and girls in 2025. ## School Holiday Football Camp The Foundation will host three football camps for girls in 2025 during the Easter, Summer and October school holidays. A Foundation Bursary Fund will be established to provide help with the cost of attending our Soccer Camps. The fund will be open to those who live in an area which has been classified as being in Decile 1-3 of the Scottish Index of Multiple Deprivation (SIMD). ## **Structure, governance and management** The charity is a Scottish Charitable Incorporated Organisation, registered in Scotland and is governed by its SCIO constitution. The trustees who served during the year and up to the date of signature of the financial statements were: - ## _Recruitment and appointment of trustees_ Since its establishment in 2014, the Foundation has operated under the guidance of a Board of Trustees with a breadth of perspectives relevant to its charitable activities. When selecting trustees, the Foundation aims to ensure that there is a broad range of relevant skills. Trustees are appointed after interviews with existing trustees. ## _Organisational structure_ The Trustees are responsible for overall operation and management of the charity. The Trustees are currently reviewing the structure for managing the day to day activities of the Academy and all operational requirements of the Foundation to reflect the growth of its operations. The Trust considers its key management personnel comprise of the Trustees and the Academy Manager. ## _Induction and training of trustees_ All new Trustees will attend an induction meeting with the management team to learn about the work of the charity and will receive a Trustee induction pack. ## _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 or error. The trustees' report was approved by the Board of Trustees. 5 0￿￿gn EnveW ID". oBED[￿9>289743D￿￿8￿1E2297FFAFA3 GLASGOW cl￿ FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. REPORT SLitement of Trustees. Responsibilities The Trustees are responsible for preparing the Annual Report and the )Inancial statements in accordance wrth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. The law applicable lo charities in Scotland requires the Trustees lo prepare financial statements for each financial year which give a INe and fair view of the state of affairs of the charrty and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to.. Select suliable accounling policies and then apply them consistently- Obsetve the methods and principles in the Charities SORP 2019 IFRS 102)- Make judgements and estimates that are reasonable and prudent- State whether applicable accounting stsndards 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 appropriate to assume that the charty will continue operation. The Trustees are responsible for keeping proFer accounting records that disclose wrth reasonable accuracy at any lime the financial posrtion of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Invesknent IScolland} Act 2005, the Charities Accounts (Scotlandl Regulations 2006 {as amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other i￿egUla￿tIes. On behalf of the Board of Trustees. Trustee 14 July 2025 Date:.................................. 0￿￿gn EnveW ID". oBED[￿9>289743D￿￿8￿1E2297FFAFA3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the financial statements of the charity for the year ended 31 December 2024 whKh are set out on pages 8 to 17. This report is made to the trustees, as a body. in accordance with the terms of my engagement. My work has been undertaken lo enable me to report my opinion as set out below and for no other purpose. To the fullest extent pemitted by law. I do not accept or assume responsibility to anyone other than the Chanty and the trustees, as a body, for my work or for this report. Respective responsibilities of trustees and independent examiner The charty's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment IScolland} Act 2005 {the Act) and the Charities Accounts {Scolandl Regulations 2006 (as amended) (the Regulations). The charty trustees consider that the audit requirement of Regulation 1011 Ila) to Icl of the Regulations does not apply. It is my responsibility to examine the financial ststements as required under section 44111{cl of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's statemenl My examination is carried out in accordance wrth Regulation 11 of the Regulations. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and cOnsequen￿Y I do not express an audit opinion on the view gwen by the financial statements. Independent exarniner's 51aternent In the course of my examinab'on. no matter has come to my attention" which gNes me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with Section 44{11{a} of the Act and Regulation 4 of the Regulations, and to prepare financial 5tatemenls which accord with the accounting records and comply wilh Regulation 8 of the Regulations have not been met; or to which. in my opinion. attention should be drawn in order to enable a proper understanding of the financial statements to be reached. CT Chartered Accountants and Independent Examiners 61 Dublin Street Edinburgh EH3 6NL 16 July 2025 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES** |**Notes**
**Income from:**
Donations and
legacies
2
Charitable activities
3
Total income
**Expenditure on:**
Charitable activities
4
Total expenditure
**Transfers**
**Net expenditure**
**and movement in**
**funds**
**Reconciliation of**
**funds:**
Fund balances at 1
January 2024
Fund balances at
31 December 2024|**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**funds**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
228,071
2,000
230,071
327,850
- 327,850
96,366
-
96,366
112,326
-112,326| |---|---| ||324,437
2,000
326,437
440,176
- 440,176| ||427,188
5,333
432,521
456,500
-456,500| ||427,188
5,333
432,521
456,500
- 456,500| ||(13)
13
-
-
- -
(102,764)
(3,320)
(106,084)
(16,324)
-
(16,324)
150,744
10,000
160,744
167,068
10,000 177,068| ||47,980
6,680
54,660
150,744
10,000 160,744| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 10 to 17 form part of these financial statements. 8 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 DECEMBER 2024** |**Notes**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
Cash at bank and in
hand
**Creditors: amounts**
**falling due within one**
**year**
10
**Net current assets**
**Total assets less**
**current liabilities**
**Net assets**
**The funds of the**
**charity**
Restricted funds
11
Unrestricted funds|**2024**
**£**
**£**
5,646
27,311
94,772
122,083
(73,069)
49,014
54,660
54,660
6,680
47,980
54,660|**2023**
**£**
**£**
6,211
-
161,493
161,493
(6,960)
154,533
160,744
160,744
10,000
150,744
160,744|**2023**
**£**
**£**
6,211
-
161,493
161,493
(6,960)
154,533
160,744
160,744
10,000
150,744
160,744| |---|---|---|---| ||122,083|161,493|| ||(73,069)|(6,960)|| ||||| ||||160,744| ||||160,744| ||||10,000
150,744| ||||160,744| ������ � The financial statements were approved by the trustees on ……………………………. **----- Start of picture text -----**
.
**----- End of picture text -----**
Trustee The notes on pages 10 to 17 form part of these financial statements. 9 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. Accounting Policies** ## _1.1 Accounting convention_ The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## _1.2 Going concern_ At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## _1.3 Charitable funds_ Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## _1.4 Income_ Income is recognised when the charity 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. Cash donations are recognised on receipt. Other donations are recognised once the charity 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. ## _1.5 Expenditure_ Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. 10 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. Accounting Policies (continued)** ## _1.6 Tangible fixed assets_ Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. All purchases that are expected to provide benefit to the charity for a period exceeding 12 months will be considered for capitalisation, subject to materiality thresholds. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment: 25% Straight Line Computers: 25% Straight Line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## _1.7 Impairment of fixed assets_ At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## _1.8 Financial instruments_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of 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 measured at amortised cost using the effective interest method. ## _1.9 Retirement benefits_ Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 11 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Income from Donations and Legacies** |**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
Donations and gifts
211,082
-
211,082
325,100
-
325,100
Grants
16,989
2,000
18,989
2,750
-
2,750
228,071
2,000230,071
327,850
-
327,850
**. Income from Charitable Activities**
**Academy**
**Academy**
**2024**
**2023**
**£**
**£**
Membership fees
65,566
91,446
Sponsorships
30,800
20,880
96,366
112,326
**Analysis by fund**
Unrestricted funds
96,366
112,326|**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
211,082
-
211,082
325,100
-
325,100
16,989
2,000
18,989
2,750
-
2,750|**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
211,082
-
211,082
325,100
-
325,100
16,989
2,000
18,989
2,750
-
2,750| |---|---|---| ||228,071
2,000230,071|327,850
-
327,850| |||**Academy**
**Academy**
**2024**
**2023**
**£**
**£**
65,566
91,446
30,800
20,880| |||96,366
112,326| |||96,366
112,326| ## **3. Income from Charitable Activities** 12 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **4. Expenditure on Charitable Activities** |**Unrestricted**
**Restricted**
**2024**
**2024**
**£**
**£**
**Direct costs**
Staff costs
51,476 -
Coach fees
109,646
3,350
Pitch costs
84,821 -
GCFC - coaching and
related costs
108,000 -
Physio fees
780 -
Referee fees
7,669 -
Kit and equipment costs
14,800
1,200
Tournament costs
3,091 -
Affiliation fees
690 -
Coach development
50 -
Sports science
29,376 -
Volunteer costs
- -
Program fees
2,281
796
Medical Purchases
60-
412,740
5,346
**Share of support and governance costs (see note 5)**
Support
Governance|**Unrestricted**
**Restricted**
**2024**
**2024**
**£**
**£**
51,476 -
109,646
3,350
84,821 -
108,000 -
780 -
7,669 -
14,800
1,200
3,091 -
690 -
50 -
29,376 -
- -
2,281
796
60-|**Total**
**Unrestricted**
**Restricted**
**2024**
**2023**
**2023**
**£**
**£**
**£**

51,476
142,072
-

112,996
26,286
-

84,821
82,052
-

108,000
114,000
-

780
1,230
-

7,669
6,190
-

16,000
25,639
-

3,091
2,326
-

690
1,052
-

50
5,035
-

29,376
39,253
-

-
141
-

3,077
2,793
-
60
-
-|**Total**
**2023**
**£**

142,072

26,286

82,052

114,000

1,230

6,190

25,639

2,326

1,052

5,035

39,253

141

2,793
-| |---|---|---|---| ||412,740
5,346|
418,086
448,068
-|448,068| |||9,680
4,755
432,521|6,064
2,367| ||||456,499| ## **5. Support Costs Allocated to Activities** |Depreciation
Other administrative costs
Advertising and branding
Membership admin costs
Governance costs
Analysed between:
Academy|**2024**
**2023**
**£**
**£**
1,774
783
7,396
4,668
-
240
510
373
4,755
2,367| |---|---| ||14,435
8,431| ||14,435
8,431| 13 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **6. Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **7. Employees** |Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**2023**
3
19| |---|---| ||**2024**
**2023**
**£**
**£**
46,869
135,816
3,665
5,395
942
861| ||51,476
142,072| There were no employees whose annual remuneration was more than £60,000 (2023: none). ## **Key Management Personnel** Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity, including the Trustees (directors) and the Academy Manager. The total compensation paid to key management personnel for services provided to the charity was £36,615. ## **8. Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **9. Tangible Fixed Assets** |**Cost**
At 31 December 2023
Additions
At 31 December 2024
**Depreciation and Impairment**
At 31 December 2023
Depreciation charged in the year
At 31 December 2024
**Carrying Amount**
At 31 December 2024|**Plant and**
**Equipment**
**Computers**
**Total**
**£**
**£**
**£**
5,895
1,099
6,994
1,208-
1,208| |---|---| ||7,103
1,099
8,202| ||737
46
783
1,499
275
1,774| ||2,236
321
2,556| ||4,867
778
5,646| ## **10. Creditors: Amounts Falling Due Within One Year** |Trade creditors
Other creditors
Accruals|**2024**
**2023**
**£**
**£**
5,609
3,334
227
1,106
67,233
2,520| |---|---| ||73,069
6,960| 15 �������������������� ������� ��� ������ � ����� �� � � ## **GLASGOW CITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **11. Restricted Funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |SPFL Trust
Barclays Fund
Communities Mental
Health and Wellbeing
Fund
**Previous year:**
Communities Mental
Health and Wellbeing
Fund|**At 1 January**
**Incoming**
**Resources**
**At 31**
**December**
**2024**
**Resources**
**Expended**
**Transfers**
**2024**
**£**
**£**
**£**
**£**
-
1,000
(1,000)
-
-
-
1,000
(1,013)
13
-
10,000
-
(3,333)
-
6,667| |---|---| ||**At 1 January**
**Incoming**
**Resources**
**At 31**
**December**
**2023**
**Resources**
**Expended**
**Transfers**
**2023**
**£**
**£**
**£**
**£**
**£**
10,000
-
-
-
10,000| ## **Notes on restricted funds:** **SPFL Trust fund** represents an amount given for the purchase of equipment. **Barclays Fund** was given to deliver a number of free football programmes for girls (P3 – P7). **Communities Mental Health and Wellbeing Fund** is to support local clubs and groups with access to sports psychology expertise ## **12. Unrestricted Funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants, which are not subject to specific conditions by donors and grantors as to how they may be used. |General funds
**Previous year:**
General funds|**At 1**
**January**
**Incoming**
**Resources**
**At 31**
**December**
**2024**
**Resources**
**Expended**
**Transfers**
**2024**
**£**
**£**
**£**
**£**
**£**
150,744
324,437(427,188)
(13)
47,980| |---|---| ||**At 1**
**January**
**Incoming**
**Resources**
**At 31**
**December**
**2023**
**resources**
**expended**
**Transfers**
**2023**
**£**
**£**
**£**
**£**
167,068
440,176
(456,500)
-
150,744| 16 0￿￿gn EnveW ID". oBED[￿9>289743D￿￿8￿1E2297FFAFA3 GLASGOW cl￿ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Related Party Transactions The following trustees of the charrty also served as directors and shareholders of the registered company Glasgow City Football Club in the period covered by these accounts= During the year, the Chanty agreed to pay a total of £108,00012023.. 114,000) in relation to the service level agreement betsveen both parties. £60.000 was due to be paid al the year end120223'. £nil)- During the year, {2023= £300.0001. a trustee of the charity. made a donatKsn to the charity tolalling £127.000 17