REGISTERED COMPANY NUMBER: 10950075 (England and Wales)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2025

FOR

THE SELHURST FOUNDATION

(A COMPANY LIMITED BY GUARANTEE)

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

to

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Statement of Cash Flows

8

Notes to the Statement of Cash Flows

9

Notes to the Financial Statements

10

to

17

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 31st October 2025. 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).

The financial statements have been prepared in accordance with the accounting policies set out in the Notes to the Financial Statements.

OBJECTIVES AND ACTIVITIES

Public benefit

The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit when setting the charitable company's objectives and aims.

The objectives of the charitable company are:

(i) The promotion of community participation in healthy recreation in particular the provision of facilities for the playing of football, martial arts, boxing and other sports;

(ii) To promote for the benefit of the inhabitants of London and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have the need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants;

(iii) To advance the physical education of children and young people under the age of 25 years (who may be attending schools or in full time education or not undergoing formal education) by providing sports facilities; and

(iv) The advancement of such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the Trustees may in their absolute discretion think fit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year £10,000 was pledged to Fundacao Freshzone a charity in Guinea-Bissau.

Fundraising activities

No specific fundraising activities have been undertaken in the year.

Investment performance

The charity disposed of its managed investments during the year due to poor performance, resulting in a loss on disposal of £14,930. At the year end the sum of £2,195,708 was held as a short term deposit and interest is being earned on this deposit.

FINANCIAL REVIEW

Financial position

The trustees consider that the charity now has sufficient funds to pursue its charitable aims and activities and continue to research further suitable charitable projects for funding and support. At 31 October 2025 unrestricted funds of £2,146,633 were held by the charity.

Principal funding sources

The charity has received interest income from investments and loans in the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the memorandum and articles, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

The charitable company was registered as a charity with the Charity Commission on 26 March 2019.

Recruitment and appointment of new trustees

New trustees are appointed by resolution of the charitable company's members and serve for an initial term of three years. Trustees may serve a total of two consecutive terms, being eligible for re-election only after a year has elapsed, unless the Board of Trustees consider it is in the best interests of the charitable company for the trustee to be eligible for re-election on his or her retirement for such number of further terms as the Trustees shall resolve.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10950075 (England and Wales)

Registered Charity number

1182639

Registered office

49

Cheyne Place

London

SW3 4HL

Trustees

M W Harold

Ms P Arteaga

Independent Examiner

George Hay & Company

Chartered Accountants

83 Cambridge Street

Pimlico

London

SW1V 4PS

Website:

https://www.selhurstfoundation.co.uk

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 31st July 2026 and signed on its behalf by:

M W Harold - Trustee

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of The Selhurst Foundation ('the charitable company') for the year ended 31st October 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of charitable company 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 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') and 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.

As permitted by Direction 2, issued by the Charity Commission the firm for which I work has provided the charitable company with bookkeeping services during the year ended 31st October 2025. As a consequence I have followed the requirement of the FRC's Ethical Standard when undertaking this assignment.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement

Independent examiner's statement

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

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

Act; or

• the financial statements do not accord with those records; or

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

• 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.

Michael Davis FCA FCCA

George Hay & Company

Chartered Accountants

83 Cambridge Street

Pimlico

London

SW1V 4PS

31st July 2026

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Investment income

2

64,807

110,023

Other income

118,090

-

Total

182,897

110,023

EXPENDITURE ON

Raising funds

3

1,183

1,885

Charitable activities

4

General costs

19,642

26,910

Other

-

1,636

Total

20,825

30,431

Net gains/(losses) on investments

(14,930

)

(7,486

)

NET INCOME

147,142

72,106

RECONCILIATION OF FUNDS

Total funds brought forward

1,999,491

1,927,385

TOTAL FUNDS CARRIED FORWARD

2,146,633

1,999,491

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

10

-

2,207

Investments

11

-

24,801

-

27,008

CURRENT ASSETS

Debtors

12

9,741

1,995,683

Investments

13

2,195,708

-

Cash at bank

438,841

27,195

2,644,290

2,022,878

CREDITORS

Amounts falling due within one year

14

(463,343

)

(14,043

)

NET CURRENT ASSETS

2,180,947

2,008,835

TOTAL ASSETS LESS CURRENT LIABILITIES

2,180,947

2,035,843

CREDITORS

Amounts falling due after more than one year

15

(34,314

)

(36,352

)

NET ASSETS

2,146,633

1,999,491

FUNDS

17

Unrestricted funds

2,146,633

1,999,491

TOTAL FUNDS

2,146,633

1,999,491

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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 31st July 2026 and were signed on its behalf by:

M W Harold - Trustee

Cash flows from operating activities

Cash generated from operations

1

2,551,784

(1,944,952

)

Interest paid

(723

)

(1,858

)

Net cash provided by/(used in) operating activities

2,551,061

(1,946,810

)

Cash flows from investing activities

Sale of fixed asset investments

9,871

872,493

Term deposit

(2,195,708

)

-

Interest received

48,460

81,616

Net cash (used in)/provided by investing activities

(2,137,377

)

954,109

Cash flows from financing activities

Loan repayments in year

(2,631

)

(10,181

)

Interest charged

593

1,784

Net cash used in financing activities

(2,038

)

(8,397

)

Change in cash and cash equivalents in the reporting period

411,646

(1,001,098

)

Cash and cash equivalents at the beginning of the reporting period

27,195

1,028,293

Cash and cash equivalents at the end of the reporting period

438,841

27,195

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

147,142

72,106

Adjustments for:

Depreciation charges

-

1,636

Losses on investments

14,930

7,486

Loss on disposal of fixed assets

2,207

-

Interest received

(48,460

)

(81,616

)

Interest paid

723

1,858

Decrease/(increase) in debtors

1,985,942

(1,947,150

)

Increase in creditors

449,300

728

Net cash provided by/(used in) operations

2,551,784

(1,944,952

)

2.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.11.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank

27,195

411,646

438,841

27,195

411,646

438,841

Liquid resources

Deposits included in cash

-

-

-

Current asset investments

-

2,195,708

2,195,708

-

2,195,708

2,195,708

Debt

Debts falling due within 1 year

(5,882

)

-

(5,882

)

Debts falling due after 1 year

(36,352

)

2,038

(34,314

)

(42,234

)

2,038

(40,196

)

Total

(15,039

)

2,609,392

2,594,353

1.	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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Expenditure

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% straight line

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.

Investment assets

Investment assets form part of the unrestricted funds. All income arising from these investments is credited as unrestricted fund incoming resources.

Investment assets are measured at fair value at the Statement of Financial Position date, with changes in being recognised in income and expenditure. Gains or losses on disposal of investment assets are calculated as arising from the latest Statement of Financial Position valuation and are credited or charged as realised gains or losses to unrestricted funds.

Financial instruments

The charitable company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activities.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

2.	INVESTMENT INCOME

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

£

£

Other investment income

16,347

28,407

Interest receivable

48,460

81,616

64,807

110,023

3.	RAISING FUNDS

Investment management costs

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

£

£

Portfolio management

1,183

1,885

4.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 5)

Totals

£

£

£

General costs

10,000

9,642

19,642

5.	SUPPORT COSTS

Other

Information

support

Governance

Finance

technology

costs

costs

Totals

£

£

£

£

£

General costs

3,671

1,664

2,207

2,100

9,642

Support costs, included in the above, are as follows:

Finance

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

General

Total

costs

activities

£

£

Insurance

220

200

Bank charges

2,728

5,688

Foreign exchange (gain)/loss

-

(438

)

Bank interest

130

74

Bank loan interest

593

1,784

3,671

7,308

Information technology

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

General

Total

costs

activities

£

£

Computer expenses

1,664

747

Governance costs

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

General

Total

costs

activities

£

£

Accountancy & legal fees

1,200

3,608

Independent examination

900

1,800

2,100

5,408

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

£

£

Depreciation - owned assets

-

1,636

Deficit on disposal of fixed assets

2,207

-

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st October 2025 nor for the period ended 31st October 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st October 2025 nor for the period ended 31st October 2024.

8.	STAFF COSTS

The average monthly number of employees during the year was as follows:

Period

1.5.23

Year Ended

to

31.10.25

31.10.24

Trustees

2

2

No employees received emoluments in excess of £60,000.

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Investment income

110,023

EXPENDITURE ON

Raising funds

1,885

Charitable activities

General costs

26,910

Other

1,636

Total

30,431

Net gains/(losses) on investments

(7,486

)

NET INCOME

72,106

RECONCILIATION OF FUNDS

Total funds brought forward

1,927,385

TOTAL FUNDS CARRIED FORWARD

1,999,491

10.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st November 2024

6,543

Disposals

(6,543

)

At 31st October 2025

-

DEPRECIATION

At 1st November 2024

4,336

Eliminated on disposal

(4,336

)

At 31st October 2025

-

NET BOOK VALUE

At 31st October 2025

-

At 31st October 2024

2,207

11.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1st November 2024

24,801

Disposals

(33,765

)

Revaluations

8,964

At 31st October 2025

-

NET BOOK VALUE

At 31st October 2025

-

At 31st October 2024

24,801

Investment assets held outside of the UK total £Nil (2024: £24,801).

Cost or valuation at 31st October 2025 of listed investments was £Nil (2024: £24,801)

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

-

1,939,671

Deposit with stockbrokers

9,741

56,012

9,741

1,995,683

13.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Other

2,195,708

-

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 16)

5,882

5,882

Other creditors

439,962

-

Pledged donations

10,000

-

Accruals and deferred income

7,499

8,161

463,343

14,043

15.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 16)

34,314

36,352

16.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year on demand:

Bank loans

5,882

5,882

Amounts falling between one and two years:

Bank loans - 1-2 years

5,882

5,882

Amounts falling due between two and five years:

Bank loans - 2-5 years

17,647

17,647

Amounts falling due in more than five years:

Repayable by instalments:

Bank loans more 5 yr by instal

10,785

12,823

Bank loans are unsecured and repayable over 10 years from February 2022 at an interest rate of 2.5 per cent per annum.