Charity registration number 1132364
Company registration number 06982786 (England and Wales)
PETERBOROUGH UNITED FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PETERBOROUGH UNITED FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
R Symns
M Woods
K Berkley
K Scarff
L J Kendrick
(Appointed 12 October 2022)
V Ravinthiran
(Appointed 12 October 2022)
J Jones
(Appointed 12 October 2022)
L P Mitchell
(Appointed 12 October 2022)
C A Clarke
(Appointed 12 October 2022)
M J Pittock
(Appointed 12 October 2022)
Secretary
G Wignall
Charity number
1132364
Company number
06982786
Principal address
London Road Stadium
London Road
Peterborough
PE2 8AL
Registered office
London Road Stadium
London Road
Peterborough
PE2 8AL
Independent examiner
Kerry Hilliard ACA FCCA CTA
Key management personnel
G Wignall
Bankers
Barclays Bank PLC
1 Church Street
Peterborough
Cambridgeshire
PE1 1XE
Solicitors
Pinder Reaux & Associates
61a East Street
Barking
Essex
IG11 8EJ
PETERBOROUGH UNITED FOUNDATION
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Statement of cash flows
8
Notes to the financial statements
9 - 19
PETERBOROUGH UNITED FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -

The Trustees present their report and financial statements for the year ended 31 August 2023.

 

Peterborough United Foundation is a company Limited by Guarantee incorporated in England and Wales at Companies House under company number 06982786 and is also registered with the Charity Commission for England and Wales under registration number 1132364.

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 charitable company's governing document, the Companies Act 2006 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)" (effective 1 January 2019).

Objectives and activities

Peterborough United Foundation has all the required policies from a governance, financial and safeguarding viewpoint and has reached an Exemplary standard in the Capability Code of Practice standard set by the Premier League Charitable Fund and English Football League Trust.

 

The board of eleven trustees meet on a quarterly cycle and are responsible for the strategic direction and policy of the charity. Sub committees are in place for Finance and Equality, Diversity and Inclusion which also meet in addition to the full board on a quarterly basis. A scheme of delegation is in place and day-to-day responsibility for the provision of the services rest with the CEO, supported by department managers, coaching and marketing staff. The CEO is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The CEO also provides individual supervision of the staff team and ensures that the team continues to develop their skills and working practices in line with good practice.

 

Since the Foundation was formed in 2009 the charity has delivered across the four key themes set out by EFLT, namely Social Inclusion, Sports Participation, Health, and Education. Our inclusive activities support all ages from the community of Peterborough and the surrounding areas.

 

The Foundation aims to provide activities that will positively impact all in the city and surrounding areas. Peterborough has an extremely diverse population, some of which come from very deprived areas. We use the brand, reach and reputation of Peterborough United Football Club to help us to work with those from difficult to reach groups to improve lives and communities.

 

The Foundation aims to help improve the mental and physical health and wellbeing of people of all ages in the local community. We aim to reduce health inequalities by promoting a broader understanding of how to live a healthier, happier lifestyle by providing activities and support that foster improved life choices.

 

To provide and promote community participation in healthy recreation by providing facilities for the playing of sports, other sports, and other physical activities.

 

To promote and assist in providing facilities for sport, recreation or other leisure time occupation for such persons who need such facilities by way of their age, infirmity, disablement, poverty, or social economic circumstances or for the interests of social welfare and with the object of improving their conditions of life.

 

Any charitable purposes that the trustees deem fit.

 

The Foundation carries out its objectives by providing a wide range of sport related and educational based projects planned to cover our key areas. The English Football League Trust and Premier League Charitable Fund provide funding for core expenditure.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

The charity acknowledges the valuable contribution made by all of its volunteers and the support of so many organisations to allow it to deliver its objectives.

 

PETERBOROUGH UNITED FOUNDATION
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
Achievements and performance

The activities of the Foundation are linked to the education sector by providing support for local primary and secondary schools. The Foundation, in partnership with Nene Park Academy, offers a football in education programme. The aim of this is to keep year 12 and 13 students engaged with their education by including football training and matches as part of their timetable. We currently have 36 boys and 20 girls on the programme.

 

The charity delivers a variety of sports-based provision within the local community, which include evening and holiday based coaching for all ages.

 

This year we started to develop our Health & Wellbeing department. We have a walking football session to support physical and mental health in adults. There is also an Xtra time Hub to help prevent isolation for the retired and semi-retired. This session is a social event for those aged 55 and over and involves games, local speakers and visits out. We are working with the Peterborough Dementia Centre and various care homes to deliver chair-based exercises to effected groups. We also hold a weekly yoga session for adults. In 2022-23 we started a weight management programme, which involved support around eating habits, nutrition, and physical exercise.

 

Our boys and girls football pathway which encourages young people to remain active has over 400 young people, boys and girls, participating on a weekly basis. The pathway starts in our early years (4 to 7) and goes through to 16 years. The feedback we receive is that this is helping both their physical health and mental health and wellbeing too.

 

Primary Stars is funded by the Premier League Charitable Fund and is delivered in local primary schools, offering support to teachers. Our coaches help the teachers to build their confidence in the delivery of PE and school sport. We also work with students for targeted interventions.

 

PL Kicks engaged with over 300 young people across 3 sites in Peterborough offering both boys and girls aged 8 to 16 the opportunity to engage with sport for the first time or to re-engage with it. The sessions are free to attend.

 

Our holiday camp provision continues to expand and in 2023-24 will be held at the Peterborough United Training Ground. The camps see an average of 50 primary school attending per day.

Financial review

The general fund is unrestricted and represents the total reserves of the charity.

In determining the level of reserves required the trustees consider the level to 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.

 

The Foundation's reserve policy is that the balance of funds should cover two months' salary costs. Whilst as at 31 August 2023, free reserves were not at this level, we consider that this was due to the effects of COVID-19 and various lockdowns during recent years. The current year will show an increase in free reserves.

 

The Foundation's Statement of Financial Activities shows net resources expended of £9,668 for the year. The reserves of the Foundation at 31 August 2023 were £33,503.

The financial position of the Foundation at 31 August 2023 is considered satisfactory and more than adequate to meet the objectives of the Foundation.

The Trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

 

The risks are RAG rated and reviewed regularly by key management personnel and The Board of Trustees.

The Trustees have considered the guidelines issued by the Charity Commission on Public Benefit and are of the opinion that the criteria are being met within the Objectives and Activities of the charity.

 

 

PETERBOROUGH UNITED FOUNDATION
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
Plans for future periods

The Foundation plans to continue its core activities outlined above in forthcoming years after securing continued funding from The Premier League Charitable Fund and The English Football League Trust.

Structure, governance and management

Peterborough United Foundation is a company limited by guarantee governed by its Memorandum and Articles of Association. The company is also registered as a charity with the Charity Commission.

 

The charity's trustees are also the directors for the purposes of the Companies Act.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

R Symns
M Woods
A Palmer
(Resigned 19 April 2023)
A Lennox
(Resigned 11 January 2023)
K Berkley
M Ebdon
(Resigned 6 January 2023)
K Scarff
A Hornsby
(Resigned 5 January 2023)
L J Kendrick
(Appointed 12 October 2022)
V Ravinthiran
(Appointed 12 October 2022)
J Jones
(Appointed 12 October 2022)
L P Mitchell
(Appointed 12 October 2022)
C A Clarke
(Appointed 12 October 2022)
M J Pittock
(Appointed 12 October 2022)

The Trustees administer the charity. Trustees are recruited after due procedure and induction training is provided.

 

None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

PETERBOROUGH UNITED FOUNDATION
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
Statement of Trustees' responsibilities

The Trustees, who are also the directors of Peterborough United Foundation for the purpose of company law, are responsible for preparing the Trustees' Report 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 year.

 

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;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

The Trustees' report was approved by the Board of Trustees.

J Jones
Trustee
Dated: 19 April 2024
PETERBOROUGH UNITED FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PETERBOROUGH UNITED FOUNDATION
- 5 -

I report to the Trustees on my examination of the financial statements of Peterborough United Foundation (the charitable company) for the year ended 31 August 2023.

Responsibilities and basis of report

As the Trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Kerry Hilliard ACA FCCA CTA

Institute of Chartered Accountants In England and Wales

 

 

Price Bailey LLP

36 Tyndall Court

Commerce Road

Lynchwood

Peterborough

PE2 6LR

Dated: 19 April 2024
PETERBOROUGH UNITED FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
30,557
-
30,557
16,663
-
16,663
Charitable activities
4
374,151
133,761
507,912
354,331
149,459
503,790
Investments
5
201
-
201
6
-
6
Total income
404,909
133,761
538,670
371,000
149,459
520,459
Expenditure on:
Charitable activities
6
414,577
133,761
548,338
356,097
149,459
505,556
Net (expenditure)/income for the year/
Net movement in funds
(9,668)
-
(9,668)
14,903
-
14,903
Fund balances at 1 September 2022
43,171
-
43,171
28,268
-
28,268
Fund balances at 31 August 2023
33,503
-
33,503
43,171
-
43,171

The statement of financial activities includes all gains and losses recognised in the year.

All income 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.
PETERBOROUGH UNITED FOUNDATION
BALANCE SHEET
AS AT 31 AUGUST 2023
31 August 2023
- 7 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
3,456
3,535
Current assets
Debtors
11
19,078
20,753
Cash at bank and in hand
68,240
86,626
87,318
107,379
Creditors: amounts falling due within one year
12
(57,271)
(67,743)
Net current assets
30,047
39,636
Total assets less current liabilities
33,503
43,171
Income funds
Unrestricted funds
33,503
43,171
33,503
43,171

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 17 April 2024
J Jones
Trustee
Company registration number 06982786
PETERBOROUGH UNITED FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2023
- 8 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
18
(15,433)
32,065
Investing activities
Purchase of tangible fixed assets
(3,154)
(429)
Investment income received
201
6
Net cash used in investing activities
(2,953)
(423)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(18,386)
31,642
Cash and cash equivalents at beginning of year
86,626
54,984
Cash and cash equivalents at end of year
68,240
86,626
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 9 -
1
Accounting policies
Charity information

Peterborough United Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is London Road Stadium, London Road, Peterborough, PE2 8AL.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 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) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. 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 charitable company has adequate resources to continue in operational existence for the foreseeable future.

 

Future funding has been secured from Premier League Charitable Fund and the contract with Nene Park Academy is still in place.

 

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.

1.4
Income

All incoming resources are recognised when the charitable company is legally entitled to the income after any performance conditions have been met, the amount can be quantified with sufficient accuracy, it is probable that the income will be received.

 

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount.

 

Government grants relating to revenue are recognised as income over the periods when the related costs are incurred. This includes the Government Coronavirus Job Retention Scheme grant which is included as 'other income'.

1.5
Expenditure

Expenditure is accounted for on an accruals basis.

PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 10 -
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.

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:

Computer equipment
33.3% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
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 charitable company 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
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 11 -
1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Total
Unrestricted
funds
funds
2023
2023
2022
£
£
£
Sponsorship (treated as donation) and other donations
15,658
15,658
8,663

Other grants received

14,899
14,899
8,000
30,557
30,557
16,663
Grants receivable for core activities
Twinning project
5,000
5,000
-
Cambridge Com B2B
3,477
3,477
-
Versus Arthritis
2,822
2,822
-
Innovation fund
-
-
8,000
Other small grants
3,600
3,600
-
14,899
14,899
8,000
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 12 -
4
Charitable activities
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£

Scholarship programme

97,826
-
97,826
112,299
-
112,299

Football in the community

41,229
-
41,229
35,604
-
35,604

School sports programme

86,583
-
86,583
76,729
-
76,729

Boys development and elite training

81,822
-
81,822
83,129
-
83,129
Women and girls development and elite training
30,954
30,954
13,116
13,116
School holiday camps
32,041
32,041
30,380
30,380
Disability football
700
700
1,059
1,059

Community work

2,996
26,707
29,703
2,015
7,750
9,765

Premier League Charitable Fund

-
84,500
84,500
-
65,000
65,000

National Citizen Service

-
22,554
22,554
76,709
76,709
374,151
133,761
507,912
354,331
149,459
503,790
Analysis by fund
Unrestricted funds
374,151
-
374,151
354,331
-
354,331
Restricted funds
-
133,761
133,761
-
149,459
149,459
374,151
133,761
507,912
354,331
149,459
503,790
5
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
201
6
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 13 -
6
Charitable activities
Charitable activities
Charitable activities
2023
2022
£
£
Staff costs
388,604
350,441
Depreciation and impairment
3,233
4,462

Motor expenses

35,767
30,890

Facility hire

67,226
67,196

Rent

4,680
-

Repairs and maintenance

4,948
966

Printing, postage and stationery

5,419
5,202

Telephone

3,994
5,863

Catering

81
109

Sundry expenses

922
1,167

Subscriptions

1,451
1,301

Sports equipment

16,676
12,395

Charitable donation

-
2,000

Marketing and entertainment

3,451
12,635

Insurance

801
1,067
537,253
495,694
Share of support costs (see note 7)
8,090
6,208
Share of governance costs (see note 7)
2,995
3,654
548,338
505,556
Analysis by fund
Unrestricted funds
414,577
356,097
Restricted funds
133,761
149,459
548,338
505,556
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 14 -
7
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
Basis of allocation
£
£
£
£
£
£

Legal and professional fees

5,908
-
5,908
3,631
-
3,631

100% Charitable activities

Payroll fees

1,927
-
1,927
2,038
-
2,038

100% Charitable activities

Bank charges

255
-
255
539
-
539

100% Charitable activities

Independent examination fees

-
2,995
2,995
-
3,654
3,654
Governance
8,090
2,995
11,085
6,208
3,654
9,862
Analysed between
Charitable activities
8,090
2,995
11,085
6,208
3,654
9,862
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 15 -
8
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
9
Employees
Number of employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
39
35
Employment costs
2023
2022
£
£
Wages and salaries
353,222
321,891
Social security costs
18,818
17,446
Other pension costs
16,564
11,104
388,604
350,441

The remuneration of key management personnel during the year amounts to £48,237 (2022: £49,074).

There were no employees whose annual remuneration was £60,000 or more.
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 16 -
10
Tangible fixed assets
Computer equipment
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2022
20,881
25,464
15,409
61,754
Additions
1,868
1,286
-
3,154
Disposals
(7,798)
(7,619)
-
(15,417)
At 31 August 2023
14,951
19,131
15,409
49,491
Depreciation and impairment
At 1 September 2022
17,742
25,068
15,409
58,219
Depreciation charged in the year
2,816
417
-
3,233
Eliminated in respect of disposals
(7,798)
(7,619)
-
(15,417)
At 31 August 2023
12,760
17,866
15,409
46,035
Carrying amount
At 31 August 2023
2,191
1,265
-
3,456
At 31 August 2022
3,139
396
-
3,535
11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,220
11,484
Prepayments and accrued income
17,858
9,269
19,078
20,753
12
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
4,961
5,437
Trade creditors
2,299
4,867
Other creditors
46,816
54,134
Accruals and deferred income
3,195
3,305
57,271
67,743
PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 17 -
13
Retirement benefit schemes
Defined contribution schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £16,564 (2022 - £11,104).

14
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 September 2021
Incoming resources
Resources expended
Balance at
1 September 2022
Incoming resources
Resources expended
Balance at
31 August 2023
£
£
£
£
£
£
£
National Citizen Service
-
76,709
(76,709)
-
22,554
(22,554)
-
Premier League Charity Fund
-
65,000
(65,000)
-
84,500
(84,500)
-
Community work
-
7,750
(7,750)
-
500
(500)
-
Street Games UK
-
-
-
-
18,920
(18,920)
-
Cambridgeshire Police - Youth Fund
-
-
-
-
3,287
(3,287)
-
National Lottery - Healthy Goals
-
-
-
-
4,000
(4,000)
-
-
149,459
(149,459)
-
133,761
(133,761)
-

National Citizen Service - funds received from EFL Trust to deliver a programme of activities for young people to undertake personal and social development.

 

Premier League Charity Fund - a three year Kicks and Stars grant with funds provided from the Premier League to reach out to children in within the community and local schools.

 

Street Games UK – received from the Youth Justice Sport Fund to deliver football activities to vulnerable young people who are at risk of becoming involved in crime.

 

Cambridgeshire Police - Youth Fund – funds received to go towards free football sessions for young people, particularly teenagers.

 

National Lottery - Healthy Goals  - funds received from the National Lottery to deliver a programme to assist with weight management.

 

PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 18 -
15
Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
-
672
16
Status

The company is limited by guarantee and does not have a share capital. The directors are members of the company and each member, during his or her membership or within one year afterwards, undertakes to contribute a sum not exceeding £10 to the assets of the company in the event of it being wound up.

17
Related party transactions
Transactions with related parties

During the year the charitable company entered into the following transactions with related parties:

An amount of £19,352 (2022: £24,574) was invoiced by the Foundation to Peterborough United Football Club Ltd for expenses and sponsorship recharge. Amounts of £25,877 (2022: £23,976) were charged by Peterborough United Football Club Ltd for pitch hire, £8,023 (2022: £7,729) for various playing and coaches kit, £4,680 (2022: £Nil) for rental of office space and £11,624 (2022: £10,388) for other miscellaneous recharged expenses. At the year end the Foundation was owed £353 to Peterborough United Football Club Ltd (2022: £900).

 

At the year end the Foundation was holding £Nil (2022: £16,433) on behalf of the Chris Turner statue fund. This fund has been used to maintain the appearance of the statue.

PETERBOROUGH UNITED FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 19 -
18
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(9,668)
14,903
Adjustments for:
Investment income recognised in statement of financial activities
(201)
(6)
Depreciation and impairment of tangible fixed assets
3,233
4,462
Movements in working capital:
Decrease in debtors
1,675
685
(Decrease)/increase in creditors
(10,472)
12,021
Cash (absorbed by)/generated from operations
(15,433)
32,065
19
Analysis of changes in net funds

The charitable company had no debt during the year.

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