Charity registration number 1154346
Company registration number 08398177 (England and Wales)
THE NEW SAINTS FC FOUNDATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
THE NEW SAINTS FC FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms H M Harris
Mr M K Harris
Mrs G M T Jones
Mr I Williams
Charity number
1154346
Company number
08398177
Registered office
Hollis House
Maesbury Road
Oswestry
Shropshire
United Kingdom
SY10 8NR
Independent examiner
Azets
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
THE NEW SAINTS FC FOUNDATION LIMITED
CONTENTS
Page
Trustees' report
1 - 7
Independent examiner's report
8
Statement of financial activities
9
Balance sheet
10
Notes to the financial statements
11 - 20
THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

The Trustees present their report and accounts for the year ended 30 November 2023.

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 Foundation'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

 

The Foundation's objects are to make physical activity available, accessible and affordable to as wide a cross section of the community as possible, with the aim of improving health and social wellbeing.

 

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

 

The Foundation began its activities during the 2015 financial year.

The Foundation's activities extend across many areas such as: Education, Health, Social Inclusion and Equalities, underlining their commitment to making a positive difference in Oswestry and the surrounding areas.

Public benefit

For the objects listed above, the perceived public benefits are as follows:

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Achievements and performance

This has been the ninth full year of operation of the Charity (having been established in October 2013, but not fully operational until February 2014), and during this time, we have again continued to build our activity programme and community profile.  We have worked with Partners such as Shropshire Council, The FAW, Shropshire FA, the local County Sports Partnership, and local parish and town councils to:

 

 

We have been encouraged by the growth in our activity provision during 2022/23 and we are increasingly viewed by local stakeholders as a trusted partner, with a reputation for quality, reliable, accessible activity provision/delivery for the local community regardless of age, background or ability.  We have this year been asked to provide activities for partners such as Energize STW County Sports Partnership; The FAW; Shropshire Council, Oswestry Town Council, Whittington Parish Council, Selattyn & Gobowen Parish Council; Weston Rhyn Parish Council; St Martins Parish Council and Ellesmere Town Council – all of which have been well received, and have led to discussions about further enhanced joint working during 2023/24.  We have also been able to grow/enhance our youth engagement programme, thanks to support during the year from Parish Councils and from the Helena Foundation - operating youth clubs/cafes in Gobowen and Weston Rhyn, Whittington, Ellesmere and Oswestry during 2022/23. 

 

Schools provision

We have continued to grow and consolidate our school PE and ‘out of school’ club contracts/provision during 2022/23 – retaining all except one contract, and securing additional delivery in other schools. We continue to work positively with all local schools and are confident of an ongoing market for our provision during 2023/24.

 

Holiday activities

The DfE funded Holiday Activities and Food (HAF) programme has continued to be a key contributor to the Foundation’s work and income during 2022/23, and has enabled us significantly to enhance our previous free holiday activity provision. The Foundation was again confirmed and commissioned in April 2023 as a ‘Core Provider’ of this programme and has worked closely with the local authority and other stakeholders to ensure successful implementation in North-West Shropshire. The Foundation is represented on the County HAF Stakeholder group which oversees the strategic direction of this provision. HAF funding is intended to benefit children who are eligible for free school meals (about 20% of the local children’s population). In order to maximise the benefits of this funding, and to meet our charitable objectives of making physical activity as available and accessible to as wide a cross-section of the community as possible, the Foundation has again worked hard with other local funders and stakeholders to ‘match’ the DfE funding available to meet the core costs of activity provision to enable a free universal access provision of school holiday activities – including an extension to provide activities and food in all half term holidays. A total of 558 hours of free holiday activities were provided across North-West Shropshire during 2022/23, providing 4,261 free places and 4,261 free healthy meals for local children attending across all school holidays. We are very grateful to all those local funders and stakeholders who have recognised the local need for and importance of free holiday activity provision for children and young people, and who have contributed to our programme, which has received much local recognition as a contributor to local community well-being. The HAF programme includes opportunities to educate children and families about the benefits of healthy eating, managing budgets through reducing food waste, etc., and the Foundation has worked with other local charities (including OsNosh CIC) to enable a ‘best practice’ programme of activities.

 

Community football

The Foundation offers weekly term-time low-cost fun football skills sessions for children and young people – providing children with opportunities to meet new friends, gain confidence, and keep active, regardless of ability. 240 x 1 hour fun football skills sessions have been provided for boys and girls aged 4 to 15 years during 2022/23 – Mini Saints, Junior Saints, Teen Saints, Wildcats and Huddle. Mini Saints and Junior Saints are accredited as part of the FAW McDonalds Fun Football programme, and Wildcats and Huddle are accredited as part of the FA and FAW girls participation programmes. Numbers at almost all sessions have grown significantly during 2022/23 with a total of 188 children participating, and we envisage this continuing during 2023/24.

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -

SEND provision

We continue to be particularly proud of a programme which offers a term-time programme of activity for young people aged 4 to 16 years with special educational needs and/or disabilities – enabling their families to take a ‘short break’ from their caring responsibilities.  We have received very positive comments from the commissioner, participants and parents/carers of the participants about the difference the programme has made to the individuals concerned – offering affordable, accessible activities and environments which those young people are normally restricted from enjoying. We secured a further contract from the Actio Consortium (overseen by Energize County Sports Partnership) to continue/grow our provision between March 2023 to April 2024. In September 2022 we appointed a senior officer responsible for overseeing all safeguarding, inclusion, disability and participation aspects of our provision. This appointment has been key in developing our SEND provision over the past year, and other aspects of inclusivity across all Foundation programmes. The location for delivery of this programme moved to a town centre location in September 2023 in order to provide even more accessible facilities for the young people attending.

 

Female participation

Female participation continues to be a focus of the Foundation. The New Saints FC women’s provision has continued to sit within the Foundation and 2022/23 again saw the Womens’ First Team participating in the Football Association of Wales (FAW) Genero Adran Premier League – securing its place in that league also for the 2023/24 season. Arrangements have been put in place during this year for all 2022/23 and 2023/24 revenue costs of this programme to be met by The New Saints FC, with a view to transfer of the programme into a new stand-alone organisation for the 2024/25 football season. In the meantime, the success of the England Women’s Team in the ‘Euros’ and higher media profile for girls/womens football has continued to lead to increasing interest in girls participation in football, and the Foundation offers two girls only affordable ‘fun football’ sessions per week during term time – one at Park Hall, Oswestry, and one in partnership with Welshpool Ladies Football Club in Welshpool. Participation in both these sessions has grown during 2022/23 and we anticipate them growing further in 2023/24. These elements of girls’ football will continue to be delivered by the Foundation – enabling us to retain our focus purely on inclusion and engagement of girls of all abilities.

 

Youth clubs/youth cafes

The need for young people’s provision is particularly evident in our rural location – where there is very little local provision for young people, and where public transport is extremely limited. We have again worked during 2022/23 with local parish and town councils to provide weekly term time youth clubs/youth cafes in the villages of Gobowen, Weston Rhyn, Whittington and commenced a new youth club provision in Ellesmere. We are also part of a collaborative contract with Shropshire Youth Association to provide weekly youth club provision in Oswestry town centre.

 

The youth clubs/cafes offer young people a safe meeting place in their village/town, where they can socialise with their friends, discuss matters of concern with our team – subjects covered and discussed include peer on peer abuse, loneliness, personal safety, healthy choices, looking after our mental health, self-reliance, etc. The provision is open to all children and young people aged 10 – 16 years and offers activities which otherwise would be inaccessible and unavailable locally. The provision also offers food for those whose families may be struggling with household budgets. Being part of a group helps young people develop important personal and interpersonal skills and can also help young people gain self-confidence and self-esteem, supporting them to become positive and valued members of their community. Young people involved in our youth provision can develop job and life skills, including organisation, the ability to run meetings, and leadership skills. Young people can bring a tremendous amount of life to local communities – often their energy, enthusiasm, creativity and perspective are invaluable to the local community if harnessed positively, and the aim of our youth provision is to ensure local communities view their young people positively and give young people access to opportunities they otherwise may not have. We were delighted to continue to receive the support of the Helena Foundation, who made a commitment in 2022 towards the costs of our rural youth provision in 2022, 2023 and 2024.

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -

We have also continued to be involved in discussions with Oswestry Town Council and another interested local charity with regard to taking on the operational management of the main youth building in Oswestry – currently in the ownership of Shropshire Council, but likely to be the subject of a community asset transfer to Oswestry Town Council within the next 12 months. The building was constructed approximately 12 years ago (replacing a previous youth building), but due to budgetary constraints the local authority has been unable to invest in the youth services originally planned for the building. Oswestry Town Council is keen to re-invigorate the building to support youth provision and community wellbeing in Oswestry and surrounding areas. It has identified the Foundation as a key stakeholder/deliverer to enable this to happen. Discussions are at an early stage, but Foundation Trustees have confirmed their support for ongoing discussions as the facility would provide a much-needed base for the Foundation and a significantly enhanced profile in Oswestry – as well as providing opportunities for closer working with other key charities in the area.

 

Using sport as a hook to engagement

The Foundation was successful in securing funding support from StreetGames UK to undertake a ‘demonstration’ project between January 2023 and March 2023 working with local Secondary School The Marches Academy to test the value of sport in engaging disengaged young people most at risk of exclusion – described as Tier 2 (i.e. at risk of involvement in ASB, crime and violence). The project was part of a UK wide programme and gave 10 identified young people the opportunity to develop their sporting skills and experiences as well as mentoring support and finding out more about careers and opportunities in sport. The impact of the programme on the young people concerned was closely monitored by the school, and the results were significant in terms of what was achieved in just 10 weeks. As a result of this project and its demonstrated impacts, the Foundation secured further funding from Shropshire Council Thriving Children and Families fund to continue the programme with further cohorts in partnership with The Marches Academy and Oswestry Town Council between September 2023 and July 2024. The programme to date has continued to show positive outcomes for the young people participating, and we are currently seeking further sources of funding to enable the programme to continue beyond July 2024. We envisage this work to be an important aspect of our provision and likely to grow further should we be able to secure the youth building mentioned above.

 

Work programme 2023/24

We continue to work with all local partners to understand local community needs and priorities and identify appropriate funds and partners to support and develop our activities. This includes the ongoing discussions referred to above about the potential to partner with another local charity to establish a ‘community hub’ within Oswestry Town Centre. The Foundation has reached a point where it requires dedicated space to develop and grow its potential in terms of regular community wellbeing provision in partnership with key local stakeholders, young people’s activities, equipment storage, ‘brand recognition’ within the locality, etc. Trustees will therefore be collaborating further with partners during 2023/24 to bring these proposals to fruition, with a view to securing a permanent Town Centre base for the Foundation.

 

We will continue to seek sources of funding which can in particular support provision of rural youth and youth engagement activities, whilst seeking to maintain and grow our schools and community fun football contracts/provision.

Financial review

As at 30 November 2023, the Foundation has made a deficit of £38,730 (2022: £24,761) for the financial year and has net assets of £18,631 (2022: £57,361), made up of unrestricted funds of £18,631 (2022: £57,361) and restricted funds of £nil (2022: £nil).

The deficit in the 2022/​23 year has arisen as a result of a reduction in the level of funding received, combined with an increase in staff costs.

The Trustees consider that the Foundation is a going concern and has the support of the Trustees and its associated company The New Saints FC Limited.

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -

It is the policy of the Foundation that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three 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 Foundation’s current activities while consideration is given to ways in which additional funds may be raised.

This policy has assisted the cash flow in the period under review, when unrestricted funds have fallen below a level equivalent to three month’s expenditure. The Trustees consider that reserves will grow in the forthcoming year, due to improved performance and new sources of funding.

 

The Trustee Board will collectively review its performance at regular intervals, again preferably quarterly. It should also review the performance of the Chair person.

 

The Trustee Board will use resources available from Government Governance Support Agencies to support this process.

 

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.

Plans for future periods

The costs for running the 1st Team Ladies exceeded the anticipated funding for the season 2023/24 and an additional award of £40,000 has been donated in early 2024 to maintain reserves at the appropriate level.

Structure, governance and management

The Foundation is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

 

The Board of Trustees, at their annual meeting in January of each year, receive information about the UK Sport/​Sport England Code of Good Governance, together with a summary of structures, policies and procedures in place and in development to ensure Board compliance with the above code of good governance, and agree:

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:

Ms H M Harris
Mr M K Harris
Mrs G M T Jones
Mr I Williams

Recruitment and appointment of Trustees

For The New Saints FC Foundation, the Charity Trustees are the Board of Directors of the Organisation and are known as The New Saints FC Foundation Trustee Board. Co-opted members do not have voting rights, but are invited to join the board for their areas of specialist interest. Although they do not have the same legal responsibilities as Trustees, they will be recruited and inducted in the same manner and would be required to adhere to the same code of conduct.

Rules governing the appointment of Trustees

In the governing documents of The New Saints FC Foundation (memorandum and articles of association) there is no maximum number of Trustees set, but there should, at any one time, be in place a minimum of three Trustees which represents the quorum. A Trustee must be over 18 years of age.

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
Qualifying third party indemnity provisions

The Trustees form the membership of the organisation, and are entitled to vote. A third of the Trustee board retires at each Annual General Meeting, but can be re-elected if there is a proposer, seconder and majority vote in their favour.

Eligibility to become a Trustee

It is a criminal offence for an individual to serve as a Trustee if disqualified from doing so. Rigorous checks will be carried out to ensure that all persons applying to become a Trustee are eligible. These checks will include:

 

Process for appointment of Trustees

Potential Trustees can be recruited through:

 

Potential Trustees will, in the first instance, be met by the nominated Trustee and given an overview of the organisation from an operational perspective. They will be given background written information about the organisation and invited to meet with two representatives of the Board.

The subsequent meeting with two members of the Board will ascertain the following information:

 

It is a two-way process and the discussion should present the prospective trustees with an opportunity to find out more about being a Trustee for The New Saints FC Foundation and decide whether or not they are still interested. They will be asked to complete, at this stage, an application form and a DBS form if they wish to continue the process of appointment. Two references will be followed up, directly following this meeting.

Following this meeting and on receipt of the references and DBS check, recommendations will be made to the board of Trustees and, if agreed, the new candidate will be invited to attend the next available board meeting.

The new Trustee will be asked to: complete and sign the declaration of interest form; sign a declaration that they are eligible to serve as a Director; agree and sign two copies of the code of conduct, to be retained by the nominated Trustee.

The new Trustee will be elected at a Board meeting and the Trustee will be sent a letter of appointment. The nominated Trustee will notify Companies House of the appointment.

THE NEW SAINTS FC FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -

Induction and training of Trustees

All Trustees should receive:

 

All new Trustees will be invited to attend:

 

All new Trustees will be encouraged to visit, at least, one of the leisure projects provided by The New Saints FC Foundation and will be invited to meet the staff at the registered office.

Ongoing Support and Training

Trustees will be offered ongoing training opportunities and be kept up to date with Charity Commission guidance and policy news through the board meetings and via email.

They will be invited to attend relevant training pertinent to their role, such as:

The Trustees report was approved by the Board of Trustees.

Mrs G M T Jones
Trustee
25 October 2024
THE NEW SAINTS FC FOUNDATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE NEW SAINTS FC FOUNDATION LIMITED
- 8 -

I report to the Trustees on my examination of the financial statements of The New Saints FC Foundation Limited (the Foundation) for the year ended 30 November 2023.

Responsibilities and basis of report

As the Trustees of the Foundation (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 Foundation 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 Foundation’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 Foundation’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 , 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 Foundation 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.

Mr M A Jackson FCA DChA
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
PE2 6FZ
United Kingdom
Dated: 29 October 2024
THE NEW SAINTS FC FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 9 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
61,216
2,455
63,671
19,568
2,292
21,860
Charitable activities
4
90,885
132,495
223,380
91,330
126,310
217,640
Other trading activities
5
2,900
-
2,900
8,400
-
8,400
Investments
6
15
-
15
13
-
13
Total income
155,016
134,950
289,966
119,311
128,602
247,913
Expenditure on:
Charitable activities
7
193,746
134,950
328,696
136,223
136,451
272,674
Net expenditure for the year/
Net movement in funds
(38,730)
-
(38,730)
(16,912)
(7,849)
(24,761)
Fund balances at 1 December 2022
57,361
-
57,361
74,273
7,849
82,122
Fund balances at 30 November 2023
18,631
-
18,631
57,361
-
57,361

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.
THE NEW SAINTS FC FOUNDATION LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 10 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
12
69,669
114,574
Cash at bank and in hand
5,678
33,490
75,347
148,064
Creditors: amounts falling due within one year
13
(56,716)
(90,703)
Net current assets
18,631
57,361
Income funds
Unrestricted funds
18,631
57,361
18,631
57,361

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 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 25 October 2024
Ms H M Harris
Trustee
Company registration number 08398177
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 11 -
1
Accounting policies
Charity information

The New Saints FC Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Hollis House, Maesbury Road, Oswestry, Shropshire, SY10 8NR, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Foundation's governing document, the Companies Act 2006, 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 Foundation is a Public Benefit Entity as defined by FRS 102.

 

The Foundation has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Foundation. 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

The Trustees consider that the Foundation is a going concern and has the support of the Trustees and its associated company The New Saints FC Limited.

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 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Foundation.
1.4
Income
Income is recognised when the Foundation is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Foundation has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

 

Government grants are recognised when the Foundation is legally entitled to them, and after any performance conditions have been met.

THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 12 -
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.

 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Foundation 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 Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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 Foundation’s contractual obligations expire or are discharged or cancelled.

THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 13 -
1.8
Taxation

The Foundation is exempt from corporation tax on its charitable activities.

1.9
Employee benefits

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

 

Termination benefits are recognised immediately as an expense when the Foundation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
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 Foundation’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
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
61,216
2,455
63,671
19,568
2,292
21,860
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 14 -
4
Charitable activities

Coaching activities

Coaching activities

2023
2022
£
£

Coaching activities

223,380
217,640
Analysis by fund
Unrestricted funds
90,885
91,330
Restricted funds
132,495
126,310
223,380
217,640
5
Other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Sponsorships and social lotteries
2,900
8,400
6
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
15
13
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 15 -
7
Charitable activities
2023
2022
£
£
Wages
110,951
100,318

Administration expenses

7,024
9,219

Coaching activities

130,187
113,005

Hire of training facilities and equipment

15,120
10,305

Coaching equipment and expenses

47,614
25,608

Sundries

10,579
7,000
321,475
265,455
Share of support costs (see note 8)
3,440
2,258
Share of governance costs (see note 8)
3,781
4,961
328,696
272,674
Analysis by fund
Unrestricted funds
193,746
136,223
Restricted funds
134,950
136,451
328,696
272,674
8
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£

Insurance

3,075
-
3,075
2,032
-
2,032

Bank charges

365
-
365
226
-
226
Independent Examiner's fees
-
3,360
3,360
-
3,384
3,384
Accountancy
-
421
421
-
1,577
1,577
3,440
3,781
7,221
2,258
4,961
7,219
Analysed between
Charitable activities
3,440
3,781
7,221
2,258
4,961
7,219
9
Trustees

During the year G Jones received remuneration of £18,000 (2022: £13,500) for her work within The New Saints FC Foundation Limited but not in her role as a Trustee. Pension contributions of £353 (2022: £176) were also paid.

 

One trustee was reimbursed £6,000 (2022: £6,050) in expenses.

THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 16 -
10
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
7
8
Employment costs
2023
2022
£
£
Wages and salaries
106,022
95,155
Social security costs
3,444
3,820
Other pension costs
1,485
1,343
110,951
100,318
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
24,147
35,556
Other debtors
42,813
76,014
Prepayments and accrued income
2,709
3,004
69,669
114,574
13
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Other taxation and social security
-
2,011
Deferred income
14
38,704
59,074
Trade creditors
14,652
26,110
Other creditors
-
124
Accruals and deferred income
3,360
3,384
56,716
90,703
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 17 -
14
Deferred income
2023
2022
£
£
Other deferred income
38,704
59,074

Deferred income is included in the financial statements as follows:

2023
2022
£
£
Deferred income is included within:
Current liabilities
38,704
59,074
Movements in the year:
Deferred income at 1 December 2022
59,074
7,849
Released from previous periods
(59,074)
(7,849)
Resources deferred in the year
38,704
59,074
Deferred income at 30 November 2023
38,704
59,074
Included within deferred income is restricted funds as follows:
2023
2022
£
£
Selattyn & Gobowen Parish Council
667
500
Weston Rhyn Parish Council
700
667
Helena Foundation
20,625
52,708
Shropshire Council - HAF Provision - Summer
11,649
994
St Martins Parish Council Grant - Holiday Activity Provision
250
250
Connexus Housing Group Community Fund
545
833
Three Parishes Big Local - Holiday Activity
-
917
Ellesmere Town Council
381
400
Whittington Parish Council
900
1,000
Energise STW
595
805
Oswestry Town Council - Holiday Activity
1,167
-
Shropshire Youth Association
1,225
-
38,704
59,074
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 18 -
15
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 December 2021
Incoming resources
Resources expended
Balance at
1 December 2022
Incoming resources
Resources expended
Balance at
30 November 2023
£
£
£
£
£
£
£
Connexus Community Grant
500
2,167
(2,667)
-
2,455
(2,455)
-
Shropshire Council - HAF programme
-
89,614
(89,614)
-
91,693
(91,693)
-
Shropshire Council - Sport England Warm Hubs Activity Project
-
-
-
-
1,565
(1,565)
-
Energize STW
658
9,070
(9,728)
-
7,170
(7,170)
-
StreetGames
-
-
-
-
18,508
(18,508)
-
Oswestry Bonfire and Firework Fund
-
-
-
-
750
(750)
-
Selattyn & Gobowen Parish Council
404
1,767
(2,171)
-
1,333
(1,333)
-
Whittington Parish Council
-
2,000
(2,000)
-
1,800
(1,800)
-
Weston Rhyn Parish Council
642
1,975
(2,617)
-
1,400
(1,400)
-
St Martins Parish Council
-
500
(500)
-
500
(500)
-
Oswestry Town Council
-
778
(778)
-
2,333
(2,333)
-
Ellesmere Town Council
-
1,200
(1,200)
-
1,768
(1,768)
-
Three Parishes Big Local
1,000
8,337
(9,337)
-
-
-
-
Shropshire Council - Youth Activities
2,718
-
(2,718)
-
-
-
-
Helena Foundation
-
2,292
(2,292)
-
-
-
-
Whittington weekly youth club
500
500
(1,000)
-
-
-
-
Easter Holiday Club
-
1,539
(1,539)
-
-
-
-
Wrekin Housing Trust
400
400
(800)
-
-
-
-
Ladies/girls activity programme
1,027
1,027
(2,054)
-
-
-
-
Shropshire Youth Association
-
5,436
(5,436)
-
3,675
(3,675)
-
7,849
128,602
(136,451)
-
134,950
(134,950)
-
THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
15
Restricted funds
(Continued)
- 19 -

The restricted funds relate to the following:

 

Shropshire Council - Holiday Activities & Food (HAF) programmes, Winter 22, Easter 23 and Summer 23.

 

Connexus Housing Group - funding towards holiday activity.

 

Selattyn & Gobowen Parish Council - youth club and holiday activities.

 

Oswestry Town Council - commissioned youth activity and coach costs.

 

Weston Rhyn Parish Council.

 

Whittington Parish Council - grant towards holiday provision.

 

Connexus Housing Group Community Fund.

 

Energize STW funding support.

 

Ellesmere Town Council - grant towards holiday activity provision.

 

St Martins Parish Council - grant towards holiday activity.

 

Shropshire Youth Association - commissioned youth activity.

THE NEW SAINTS FC FOUNDATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 20 -
16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 30 November 2023 are represented by:
Current assets/(liabilities)
18,631
-
18,631
57,361
-
57,361
18,631
-
18,631
57,361
-
57,361
17
Related party transactions
Transactions with related parties

During the year transactions took place between The New Saints FC Foundation Limited and associated companies that are beneficially owned by Mr M K Harris. All such transactions are on an arms length basis. During the year transactions took place with the following companies:

 

 

During the year The New Saints FC Limited gave an unrestricted donation to The New Saints FC Foundation Limited of £25,000 (2022: £16,541).

The following amounts were outstanding at the reporting end date:

2023
2022
£
£
The New Saints FC Limited
30,669
64,014
Hog Parks Limited
12,000
12,000
42,669
76,014
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