REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
THE NATIONAL LEAGUE TRUST LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
THE NATIONAL LEAGUE TRUST LTD |
THE NATIONAL LEAGUE TRUST LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
Report of the Trustees | 1 | to | 5 |
Report of the Independent Auditors | 6 | to | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 | to | 22 |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MAY 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims for the public benefit |
The objectives of the charity are as follows: |
- | to promote the physical education of children and young persons, community participation in healthy recreation by providing facilities for playing football or other sports capable of improving physical health, |
- | to assist in providing facilities for recreation or other leisure time occupation of persons who have need for such facilities by reason of age, infirmity or disablement, poverty or social economic circumstances or for the public at large in the interests of social welfare, |
- | to advance the education of children and young people and provide opportunities for them to develop their full capabilities to enable them to become responsible members of society. |
Individual schemes are run by Club Community Organisations (CCOs) of member clubs of The National League and these are grant aided by the charity through donations from The Premier League and The Professional Footballers Association. In May 2023 both organisations confirmed that they would continue to fund the Trust for a further five years. |
The trustees confirm that they have reviewed the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy. |
Grantmaking |
The Trust has two objectives: to develop the ability of each club's community organisation (CCO) to plan and deliver a sustainable programme of activities and to make funding available for those activities. The Trust runs a training and development programme and invites applications periodically throughout the year To be eligible, a CCO must be associated with a club that is a member of The National League in the current playing season. |
Applications must be for projects or activities in line with the Trust's aims and objectives. If accepted by trustees, there is a range of funding levels available, depending on the status of the applicant. These are: |
- | £10,000 - for clubs applying for the first time or who are not currently funded |
- | £15,000 - club-run projects who have previously received Trust funding and have successfully delivered the project and for new charities who have not applied to the Trust before |
- | £20,000 - for established charities funded before, or for a programme run by a CIC that is separate to the club |
- | £25,000 for established charities who have achieved a satisfactory standard in assessment of Capability Code of Practice (CCOP). |
Grants are to a maximum of 75% of the eligible cost, meaning at least 25% must come from other sources. |
Charities and CCOP |
As part of the development of CCOs and to improve their governance, the Trust supports two initiatives: to encourage clubs to create a separate charity to manage their community programme and to further develop the governance of those charities through Capability Code of Practice (CCOP). |
In 2022/23 there were 72 clubs in the National League. Of these, 47 had a separate charity or community interest company managing their programme and Trust funding. |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MAY 2023 |
OBJECTIVES AND ACTIVITIES |
During the year the Trust continued to work with its sister bodies the Premier League Charitable Fund (PLCF) and the English Football League Trust (EFL Trust) to develop the governance standard known as CCOP at National League CCOs who were interested in developing their organisation. CCOP helps CCOs work towards improving areas highlighted by the Charity Commission as being the hall marks of a well-run charity: |
o Structure |
o Governance and the board |
o Safeguarding |
o Finance |
o People |
o Data Protection |
o Health & Safety |
32 CCOs were working towards CCOP in 2022/23. |
Premier League Primary Stars |
Since 2016/17 the Trust has worked with the PLCF as part of this flagship grant programme. This is an education programme that connects learning to the world of sport to enthuse pupils when tackling challenging topics. It is linked to the national curriculum and the aim is that it is available to as many primary schools in England and Wales as possible. It uses the appeal of the Premier League and professional football clubs to improve and enhance physical education (PE) and other curriculum areas, developing skills and values. |
Only National League CCOs with charitable status and working toward a satisfactory standard of CCOP are able to apply to this programme. In 2022/23 fifteen CCOs received grants of either £25,000, £20,000 or £15,000 depending on their ability to deliver this complex programme. Each level of funding requires different levels of KPIs. There is a strong partnership with the PLCF to ensure that the quality of delivery is maintained across all CCOs in the Premier League and EFL. This ensure that programmes can grow as they improve. A range of support and training opportunities is available, including coach development in partnership with the FA. |
Women and Girls Pilot Programme |
In 2018/19 the Trust worked with the Wembley National Stadium Trust (WNST) to create a programme funding Women and Girls development at selected CCOs. |
£100,000 was given by WNST to fund the programme and eleven projects were successfully delivered, receiving grants of £67,325. The pandemic led to the project being suspended with a residual amount (after costs) of £22,273. |
In spring of 2023 the Trust and WNST agreed to run a small grants programme with activities to coincide with the FIFA Women's World Cup. In May 2023 trustees agreed to make a contribution and increase the fund to £32,000, allowing eight grants of £4,000 to be offered. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
These projects included working with young people at risk of offending, supporting health initiatives, cheerleading, music, dance and other arts activities, encouraging volunteering, working with young people not in employment, education or training (NEETs), helping different disability groups to play sport, creating educational initiatives for adults and children, working with isolated community groups, green projects, healthy eating and lifestyle and working in partnership with schools to deliver football coaching and other initiatives. |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MAY 2023 |
ACHIEVEMENT AND PERFORMANCE |
Investment performance |
The charity does not deliver projects, it instead makes grants to CCOs to enable them to deliver the projects. To receive a grant for a project, KPIs must be set by the applicant which must be acceptable to the charity and two of four core outcomes must be achieved by the project. |
At both the half way point and the end of the project, an assessment of how the project has performed against these measures must be submitted to the charity, and if the results are satisfactory then payment of the grant will be made. |
Training is given to the CCOs regarding guidance in how to measure the outcomes and what is required. |
FINANCIAL REVIEW |
Principal funding sources |
The principal funding source is the Professional Footballers Association who have donated £1,200,000. The level of funding for 2023/24 will also be £1,200,000. Each year £300,000 of the donation has been ring-fenced for the Premier League Primary Stars grant programme. Both the Premier League and PFA have committed to continue to fund the Trust until 2028. |
Reserves policy |
Free reserves at 31 May 2023 amounted to £1,143,321 (2022 - £1,165,683). These are held for future grant claims and support costs in 2023/24 restricted funds. At all times the Trust has an uncommitted reserve of £100,000. Interest will continue to be received on the cash deposits and the trustees consider there are sufficient reserves to cover all expenditure in the coming year. |
Going concern |
The charity has more than sufficient funds available to meet its committed liabilities and no material uncertainties exist regarding its ability to continue. The Trustees therefore believe that it is correct to prepare these financial statements on a going concern basis. |
Principal risks and uncertainties |
The main uncertainty regarding income is in respect of the level of funding to be received each year, which is agreed on an annual basis. To manage this risk the charity always ensures that it has sufficient monies in the bank account to cover the full extent of its liabilities under grants made, and new rounds of grant funding will only be made if there are sufficient funds available to cover these in full. |
The major risk is in respect of potential fraud in respect of grants paid. This is managed in part by the majority of grants being made mainly to CCOs. Where grants are made to club based projects these amounts are underwritten by The National League, who have committed to recoup the money from the clubs and repay it to the charity. |
FUTURE PLANS |
The charity plans to continue the activities in 2023/24 following the funding pledge as above and to complete the projects started in previous periods. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, the articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In the event of the company being wound up the member is required to contribute an amount not exceeding £1. |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MAY 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Trustees |
The charity is governed by the Trustees who meet four times a year and the meetings are attended by S O'Brien, the project manager, who acts in an advisory and reporting capacity only. Each year one third of the Trustees must retire but they may be reappointed and there must be a minimum of three at all times. |
The trustees have been selected for their experience in football administration, knowledge of the beneficiary clubs and general business skills, together with their prominence as community figures. N J Perchard and T Angus have also been appointed as representatives of the major donors to assist with the objectives of the charity being met. |
The charity is looking to further strengthen this position by recruiting additional independent Trustees who can add to the skills already offered by the current trustees. |
Trustees are given training as required, to include training on the assessment of grant applications. |
Organisational structure |
All decisions are made by the Trustees at their meetings. The administration of the scheme is handled by the project manager, S O'Brien, who deals directly with each applicant and reports to the Trustees on the proposed projects and advises on all payments to be made. |
Key management remuneration |
The remuneration of key management is agreed by the Trustees. |
Related parties |
Details of related parties and related party transactions are given in note 16 to the financial statements. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MAY 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Auditors |
Chartered Accountants |
and Registered Auditors |
Admiral House |
Waterfront East |
Brierley Hill |
West Midlands |
DY5 1XG |
Solicitors |
Bates Wells & Braithwaite London LLP, 2-6 Cannon Street, London EC4M 6YH |
Bankers |
National Westminster Bank plc, Northwich, Cheshire |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of The National League Trust Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | 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 auditors are aware of that information. |
AUDITORS |
The auditors, Blackthorns, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
THE NATIONAL LEAGUE TRUST LTD |
Opinion |
We have audited the financial statements of The National League Trust Ltd (the 'charitable company') for the year ended 31 May 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 May 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. |
Other information |
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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 such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
THE NATIONAL LEAGUE TRUST LTD |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
Responsibilities of trustees |
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 and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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 either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the 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 or error, and to issue a Report of the Independent Auditors 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Based on our understanding of the company and industry we did not identify any risks of non compliance with laws and regulations that would impact on the company's ability to trade or have a material impact on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and UK tax legislation. 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 risk was regarding future funding and whether the charity could meet its commitments. Audit procedures performed included: |
- |
discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; |
- | reviewing correspondence for any issues of non-compliance; |
- |
challenging assumptions and judgements made by management in their significant accounting estimates and judgements; |
- |
review minutes from all board minutes to ensure that all grants are approved and to note any significant matters that may require adjustment of or disclosure in the financial statements; |
- | testing the commitments in detail to confirm funding levels required; |
- | reviewing funding agreements for any clawback provisions. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
THE NATIONAL LEAGUE TRUST LTD |
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Registered Auditors |
Waterfront East |
Brierley Hill |
West Midlands |
DY5 1XG |
THE NATIONAL LEAGUE TRUST LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MAY 2023 |
31.5.23 | 31.5.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 | 1,209,724 |
Investment income | 4 | 7,420 |
Total | 1,217,144 |
EXPENDITURE ON |
Charitable activities | 5 |
1,124,632 |
5,755 |
6,879 |
Other | 102,240 |
Total | 1,239,506 |
NET INCOME/(EXPENDITURE) | (22,362 | ) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,165,683 |
TOTAL FUNDS CARRIED FORWARD | 1,143,321 | 1,165,683 |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
BALANCE SHEET |
31 MAY 2023 |
31.5.23 | 31.5.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 | 412 |
CURRENT ASSETS |
Debtors | 13 | - |
Cash at bank | 1,909,260 |
1,909,260 |
CREDITORS |
Amounts falling due within one year | 14 | (766,351 | ) | ( |
) | ( |
) |
NET CURRENT ASSETS | 1,142,909 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
1,143,321 |
NET ASSETS | 1,143,321 |
FUNDS | 15 |
Restricted funds: |
Main Grant Fund | 893,082 | 812,540 |
Primary Stars Fund | 250,239 | 330,867 |
Women & Girls Development Fund | - | 22,276 |
1,165,683 |
TOTAL FUNDS | 1,165,683 |
THE NATIONAL LEAGUE TRUST LTD (REGISTERED NUMBER: 07877720) |
BALANCE SHEET - continued |
31 MAY 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE NATIONAL LEAGUE TRUST LTD |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (22,042 | ) | 137,659 |
Net cash (used in)/provided by operating activities | (22,042 | ) | 137,659 |
Cash flows from investing activities |
Interest received | 7,420 | 449 |
Net cash provided by investing activities | 7,420 | 449 |
Change in cash and cash equivalents in the reporting period |
(14,622 |
) |
138,108 |
Cash and cash equivalents at the beginning of the reporting period |
1,923,882 |
1,785,774 |
Cash and cash equivalents at the end of the reporting period |
1,909,260 |
1,923,882 |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
31.5.23 | 31.5.22 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(22,362 |
) |
141,551 |
Adjustments for: |
Depreciation charges | 705 | 704 |
Interest received | (7,420 | ) | (449 | ) |
Decrease in debtors | 460 | - |
Increase/(decrease) in creditors | 6,575 | (4,147 | ) |
Net cash (used in)/provided by operations | (22,042 | ) | 137,659 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.6.22 | Cash flow | At 31.5.23 |
£ | £ | £ |
Net cash |
Cash at bank | 1,923,882 | (14,622 | ) | 1,909,260 |
1,923,882 | (14,622 | ) | 1,909,260 |
Total | 1,923,882 | (14,622 | ) | 1,909,260 |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
The National League Trust Ltd is a private charitable company, limited by guarantee, registered in England and Wales.The registered company number is 07877720. The address of the charity's registered office is Waterloo House, 20 Waterloo Street, Birmingham, B2 5TB. |
The financial statements are presented in Sterling, which is the functional currency of the charitable company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Voluntary income by way of donations are included in full in the Statement of Financial Activities when receivable. |
Bank interest is included in the period in which it accrues. |
Resources expended |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. The charity is not registered for VAT, and expenditure is analysed inclusive of VAT where this has been incurred. |
Support costs comprise those costs incurred by the charity 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 to support them. |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fee and costs linked to the strategic management of the charity. |
Grants payable are payments to third parties in the furtherance of the charitable objects of the Trust. Grants are accounted for in the year in which they are awarded without condition. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less. |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets held for the charitable company's own use are stated at cost less depreciation and accumulated impairment losses. At each balance sheet date, the charitable company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment losses, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
In the year to 31 May 2023 all funds are restricted and the balance on the funds, and further explanation of the nature and purpose of each fund, are included in the notes to the financial statements. |
Financial instruments |
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Trade and other debtors |
Trade and other debtors are recongnised at the settlement amount after any trade discount offered. |
Trade and other creditors |
Trade and other creditors are recognised where the charity has a present obligation resulting from a past event and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for any trade discounts due. |
Going concern |
No material uncertainties exist related to events or conditions that may cast doubt upon the charity's ability to continue as a going concern. |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
3. | DONATIONS AND LEGACIES |
31.5.23 | 31.5.22 |
£ | £ |
Donations |
4. | INVESTMENT INCOME |
31.5.23 | 31.5.22 |
£ | £ |
Deposit account interest |
5. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
(see note | costs (see |
6) | note 7) | Totals |
£ | £ | £ |
Grants to Club Community Organisations (CCOs) |
1,124,632 |
- |
1,124,632 |
Management | - | 5,755 | 5,755 |
Governance | - | 6,879 | 6,879 |
1,124,632 | 12,634 | 1,137,266 |
6. | GRANTS PAYABLE |
31.5.23 | 31.5.22 |
£ | £ |
Grants to Club Community Organisations (CCOs) | 1,124,632 | 951,280 |
31.05.2023 | 31.05.2022 |
£ | £ |
Grants to National League CCOs | 1,183,308 | 1,007,242 |
Grants withdrawn | (68,400 | ) | (55,962 | ) |
Transfer of funds from main grant fund to Women and Girls fund | 9,724 | - |
1,124,632 | 951,280 |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
7. | SUPPORT COSTS |
Governance |
Management | Other | costs | Totals |
£ | £ | £ | £ |
Other resources expended | 58,040 | 44,200 | - | 102,240 |
Management | 5,755 | - | - | 5,755 |
Governance | - | - | 6,879 | 6,879 |
63,795 | 44,200 | 6,879 | 114,874 |
Support costs, included in the above, are as follows: |
31.5.23 | 31.5.22 |
Other |
resources | Total | Total |
expended | Management | Governance | activities | activities |
£ | £ | £ | £ | £ |
Administration support | 58,040 | 5,755 | - | 63,795 | 62,745 |
Sundries | 7,707 | - | - | 7,707 | 4,699 |
Public relations and media costs |
1,037 |
- |
- |
1,037 |
11,392 |
Tournaments | 17,942 | - | - | 17,942 | 6,974 |
Computer and software | 2,352 | - | - | 2,352 | 1,970 |
Views monitoring | 14,457 | - | - | 14,457 | 10,848 |
Depreciation of tangible fixed assets |
705 |
- |
- |
705 |
704 |
Auditors' remuneration | - | - | 4,380 | 4,380 | 4,380 |
Accountancy and legal fees | - | - | 2,499 | 2,499 | 3,906 |
102,240 | 5,755 | 6,879 | 114,874 | 107,618 |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.5.23 | 31.5.22 |
£ | £ |
Auditors' remuneration | 4,380 | 4,380 |
Depreciation - owned assets |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022. |
Trustees' expenses |
During the year a trustee was paid a total of £Nil (2022 - £28) for travelling and stationery costs. |
10. | STAFF COSTS |
Total staff costs for the year ended 31 May 2023 were |
31.05.2023 | 31.05.2022 |
Wages and salaries | 56,336 | 56,491 |
Social security costs | 1,734 | 1,650 |
Pension contributions | 5,726 | 4,604 |
63,796 | 62,745 |
The average monthly number of employees during the year was as follows: |
31.5.23 | 31.5.22 |
Administration |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 1,200,000 |
Investment income | 449 |
Total | 1,200,449 |
EXPENDITURE ON |
Charitable activities |
951,280 |
62,745 |
8,286 |
Other | 36,587 |
Total | 1,058,898 |
NET INCOME | 141,551 |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | - | 1,024,132 |
TOTAL FUNDS CARRIED FORWARD | - | 1,165,683 | 1,165,683 |
12. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2022 and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Other debtors |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Grants awarded | 760,541 | 751,803 |
Social security and other taxes |
Accrued expenses |
15. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.6.22 | in funds | 31.5.23 |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 812,540 | 80,542 | 893,082 |
Primary Stars Fund | 330,867 | (80,628 | ) | 250,239 |
Women & Girls Development Fund | 22,276 | (22,276 | ) | - |
(22,362 | ) |
TOTAL FUNDS | (22,362 | ) | 1,143,321 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 907,421 | (826,879 | ) | 80,542 |
Primary Stars Fund | 299,999 | (380,627 | ) | (80,628 | ) |
Women & Girls Development Fund | 9,724 | (32,000 | ) | (22,276 | ) |
( |
) | (22,362 | ) |
TOTAL FUNDS | ( |
) | (22,362 | ) |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
15. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.6.21 | in funds | 31.5.22 |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 669,224 | 143,316 | 812,540 |
Primary Stars Fund | 332,632 | (1,765 | ) | 330,867 |
Women & Girls Development Fund | 22,276 | - | 22,276 |
1,024,132 | 141,551 | 1,165,683 |
TOTAL FUNDS | 1,024,132 | 141,551 | 1,165,683 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 900,449 | (757,133 | ) | 143,316 |
Primary Stars Fund | 300,000 | (301,765 | ) | (1,765 | ) |
1,200,449 | (1,058,898 | ) | 141,551 |
TOTAL FUNDS | 1,200,449 | (1,058,898 | ) | 141,551 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.6.21 | in funds | 31.5.23 |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 669,224 | 223,858 | 893,082 |
Primary Stars Fund | 332,632 | (82,393 | ) | 250,239 |
Women & Girls Development Fund | 22,276 | (22,276 | ) | - |
1,024,132 | 119,189 | 1,143,321 |
TOTAL FUNDS | 1,024,132 | 119,189 | 1,143,321 |
THE NATIONAL LEAGUE TRUST LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
15. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 1,807,870 | (1,584,012 | ) | 223,858 |
Primary Stars Fund | 599,999 | (682,392 | ) | (82,393 | ) |
Women & Girls Development Fund | 9,724 | (32,000 | ) | (22,276 | ) |
2,417,593 | (2,298,404 | ) | 119,189 |
TOTAL FUNDS | 2,417,593 | (2,298,404 | ) | 119,189 |
Premier League Primary Stars - This is an education programme that connects learning to the world of sport to enthuse pupils when tackling challenging topics. |
Women and Girls Fund - This pilot programme was in conjunction with the Wembley National Stadium Trust. Selected CCOs were chosen in partnership with the FA to provide an effective vehicle to encourage more females to play football. |
Main Fund - All other projects supported by the charity are under the main fund. This supports all other projects od CCOs to promote a healthier physical and mental lifestyle in the local community. |
16. | RELATED PARTY DISCLOSURES |
17. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is The Football Conference Limited, known as The National League, who is the sole member, although the charity is under the day to day control of the Trustees. |