The trustees present their annual report and financial statements for the year ended 31 August 2025.
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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".
Southend United Community Foundation exists to use the power of sport, education and community engagement to improve lives across Southend-on-Sea and South East Essex.
The Foundation is the official charity of Southend United Football Club and works with children, young people, adults and older people to create opportunities that improve physical health, mental wellbeing, educational attainment, employability and community cohesion.
Our charitable objectives as set out in and in compliance with our governing document remain:
to promote community participation in healthy recreation through football and sport;
to provide facilities and opportunities that improve health, wellbeing and quality of life for people of all ages and backgrounds;
to advance education and learning; and
to strengthen communities through inclusive programmes that encourage participation, aspiration and social connection.
The Foundation delivers programmes across four strategic themes:
Participation
Education
Health & Wellbeing
Community Cohesion
Programmes are delivered in schools, colleges, community venues, sports facilities, healthcare settings and neighbourhoods across Southend-on-Sea and South East Essex.
The Trustees have paid due regard to the Charity Commission's guidance on public benefit when determining the Foundation's objectives and activities.
The trustees review the Charity's aims, objectives and activities each year and consider how best to achieve its charitable purposes for the public benefit. In pursuing these objectives, the Charity seeks to maximise its impact through the effective use of its resources and by maintaining strong governance and financial management arrangements.
The Foundation believes that the power of sport can be used as a catalyst for lasting social change.
Using the trusted Southend United badge alongside experienced staff, strong partnerships and high-quality programme delivery, the Foundation provides sustained opportunities for people to participate, learn, develop and thrive.
Rather than delivering isolated activities, our programmes are designed to create long-term outcomes including:
increased physical activity;
improved confidence and resilience;
greater educational engagement;
stronger employability skills;
improved physical and mental wellbeing;
reduced social isolation; and
stronger, more connected communities.
The Foundation works collaboratively with schools, education providers, Southend-on-Sea City Council, healthcare partners, community organisations, businesses and Southend United Football Club to maximise both impact and value for the communities we serve.
The Trustees monitor organisational performance through a balanced framework of financial, operational and impact measures.
Performance is reviewed regularly through Board reporting and includes:
delivery against programme and contractual targets;
participant engagement and retention;
learner recruitment, achievement and progression;
grant and contract performance;
financial performance;
organisational sustainability;
workforce development; and
stakeholder feedback.
During the year the Foundation increased total income to £1.24 million whilst returning to a surplus position and continuing to invest significantly in charitable activities.
The Trustees consider these results to represent positive progress in delivering the Foundation's charitable objectives whilst strengthening the organisation's long-term sustainability.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
A Year of Growth and Development
During 2024/25 the Foundation continued to use the unique reach of Southend United Football Club to engage people throughout Southend-on-Sea and South East Essex.
Through a broad range of education, participation, health and community programmes the Foundation continued to create opportunities that improve lives whilst responding to increasing demand across local communities.
Participation
Participation remained central to the Foundation's work.
Through school-based activity, holiday provision, football development programmes, Premier League initiatives and community sessions, the Foundation continued to encourage people of all ages to become more active while developing confidence, teamwork and resilience.
Our approach focuses upon sustained participation, enabling individuals to build positive habits and remain engaged over extended periods rather than through one-off interventions.
Education
Education continued to represent one of the Foundation's most significant areas of growth.
Working with education partners, the Foundation expanded opportunities for young people to access high-quality post-16 education alongside football development, coaching, personal development and employability opportunities.
The continued growth in educational activity during the year reflects increasing confidence in the Foundation's provision and provides an important platform for future organisational sustainability.
Health & Wellbeing
The Foundation continued to develop programmes that improve both physical and mental wellbeing.
Working alongside local partners, activities supported healthier lifestyles, active ageing, improved confidence and reduced isolation for participants across a wide range of age groups.
Additional investment secured during the year has enabled the Foundation to continue developing its health-related provision.
Community Cohesion
Community programmes continued to provide safe, inclusive and welcoming environments where participants could build relationships, develop new skills and become more active within their communities.
The Foundation remains committed to promoting equality, diversity and inclusion throughout all programmes, ensuring opportunities are accessible regardless of age, background or ability.
Organisational Development
Growth in programme delivery during the year was supported through continued investment in staffing, governance and organisational infrastructure.
The Foundation increased its workforce during the year and continued to strengthen governance arrangements, recognising that strong leadership and effective management are fundamental to delivering sustainable community impact.
The charity undertakes fundraising activities to support its charitable objectives. The charity seeks to ensure that all fundraising activities are conducted ethically, transparently and in accordance with applicable laws and regulations.
The charity does not employ professional fundraisers or commercial participators to carry out fundraising activities on its behalf. The trustees monitor fundraising activities to ensure that they are consistent with the charity's values and objectives.
The charity is committed to protecting members of the public, including vulnerable individuals, from unreasonable intrusion on privacy, unreasonably persistent approaches or undue pressure to donate. Appropriate procedures are in place to ensure that fundraising activities are conducted responsibly.
The charity continued to develop and strengthen its fundraising activities during the year, achieving total fundraising income of £9,296 (2024: £8,111). This was made possible through the ongoing support of individual donors, grant-making bodies, corporate partners and fundraising events.
Key fundraising achievements during the year included:
Securing grant funding from a number of charitable trusts and foundations to support the charity's core activities and specific projects.
Maintaining strong levels of support from existing donors while attracting new supporters to the charity.
Successfully delivering fundraising campaigns and events which increased awareness of the charity's work and generated valuable unrestricted income.
Strengthening relationships with corporate and community partners, resulting in additional financial and in-kind support.
The trustees are grateful for the continued generosity of all supporters whose contributions have enabled the charity to further its charitable objectives and increase its impact on beneficiaries throughout the year.
Total income for the year increased to £1,244,667 (2024: £904,156, as restated).
The Foundation recorded a surplus of £12,430, compared with a restated deficit in the previous year of £65,222. This represents an important improvement in the organisation's financial position whilst continuing to invest significantly in charitable activities and services.
Education continued to represent a significant area of growth alongside continued investment in participation, health and community programmes.
At the year end total funds stood at £40,554 (2024: £28,124 as restated), including restricted funds of £14,350 (2024: Nil.)
The Trustees remain committed to prudent financial management and ensuring that available resources are directed towards activities that deliver the greatest benefit to local communities.
During the year, it was discovered that a number of adjustments needed to be made to the Balance Sheet as at 31 August 2024 in respect of calculations to entries included within accrued and deferred income.
As these sums were material, the figures for prepayments & accrued income and accruals & deferred income have been amended, resulting in a prior period adjustment.
Comparative figures have been restated and an adjustment has been made to opening funds, details of which can be found in note 22.
In addition, this is the first year which the charity qualifies for audit based on its income threshold.
Additional disclosure has been provided for the year to 31 August 2024 to comply with the framework's requirements.
The trustees have assessed the charitable company's ability to continue as a going concern. In making this assessment, the Trustees have reviewed the Foundation's financial position together with cash flow forecasts, future budgets and anticipated funding.
The following are considered by the trustees to be the most significant challenges facing the charitable company at the present time.
Ongoing integration issues regarding the new educational contract with Southend City College and the wraparound provision for new service levels.
Disappointing success rates in respect of funding applications due to tough market conditions. This is shortly to be addressed with the appointment of a new trustee with a strong financial background.
Whilst recognising the continuing challenges associated with funding, education growth and the wider economic environment, the Trustees are satisfied that appropriate plans and mitigating actions are in place and are satisfied that the entity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, at the time of approving the financial statements they conclude that these do not represent a material uncertainty that may cast significant doubt on the charitable company's ability to continue as a going concern.
They are grateful for the ongoing support of Southend United Football Club, and for this reason and those mentioned above, the financial statements have been prepared on the going concern basis.
The Trustees aim to maintain unrestricted reserves equivalent to approximately three months of operating expenditure in order to protect the Foundation against unexpected reductions in income or unforeseen expenditure.
Although this level has not yet been achieved, continued improvement in the Foundation's financial position remains a strategic priority.
The Trustees will continue to strengthen unrestricted reserves as opportunities arise whilst balancing the need to invest in frontline charitable activities.
The Trustees review the Foundation's strategic and operational risks on a regular basis.
The principal risks identified during the year included:
maintaining sustainable income within an increasingly competitive funding environment;
continued expansion of education provision;
recruitment and retention of skilled staff;
successful delivery of funded programmes;
operational pressures associated with organisational growth; and
wider economic conditions affecting local communities and funding partners.
Appropriate governance arrangements, financial controls, monitoring procedures and risk management systems remain in place to mitigate these risks.
The Trustees remain optimistic about the Foundation's future.
Building upon continued organisational growth during 2024/25, priorities for the coming year include:
expanding education provision;
increasing participation opportunities across all age groups;
developing additional health and wellbeing programmes;
strengthening fundraising and income diversification;
building new strategic partnerships; and
continuing investment in governance, staff development and organisational resilience.
The Foundation will continue working towards its long-term ambition of improving lives across Southend-on-Sea and South East Essex through the power of sport, education and community engagement.
Southend United Community Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 16 March 2004 and amended by special resolution passed 6 February 2014.
None of the Trustees has any beneficial interest in the company. All the Trustees are members of the company and guarantee to contribute an amount not exceeding £10 in the event of a winding up.
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:
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Southend United Community Foundation is a charitable company limited by guarantee.
Responsibility for the governance of the Foundation rests with the Board of Trustees, who provide strategic leadership, monitor organisational performance and ensure that the charity continues to fulfil its charitable purposes.
The Trustees delegate responsibility for day-to-day operational management to the Chief Executive Officer and senior leadership team.
The Board remains committed to maintaining high standards of governance and regularly reviews its effectiveness, skills and succession planning to ensure the Foundation is well positioned to meet future opportunities and challenges.
The trustees delegate the day-to-day management of the charity during the reporting period in question to Dale Spiby, who is Chief Executive.
All new trustees receive an induction on appointment to familiarise them with the charity's objectives, governing document, organisational structure, key policies and procedures, financial position, and the legal responsibilities of trustees. New trustees are provided with relevant background information and have the opportunity to meet with senior staff and fellow trustees to gain an understanding of the charity's activities and operations.
The charity is committed to ensuring that trustees have the knowledge and skills necessary to fulfil their duties effectively. Trustees are encouraged to undertake appropriate training and development activities, including attendance at external seminars, workshops and sector-specific events. Ongoing updates are provided on changes in charity law, governance, financial reporting requirements and other matters relevant to the charity's activities.
The remuneration of key management personnel is determined on an interim basis by the Trustees. The levels of remuneration are based upon performance and the prevailing industry rates of pay.
The Foundation's policy is to consult and discuss with employees at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the Foundation's performance.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Charity continues and that the appropriate training is arranged. It is the policy of the Charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
The Foundation is greatly assisted by Southend United Football Club in being able to carry out its charitable activities, via the sharing of its significant resources. The Club and Foundation share many operations resources, have directors in common and are subject to common influence and are hence related parties.
The trustees, who are also the directors of Southend United Community 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.
In accordance with the company's articles, a resolution proposing that Buckley Watson Limited be reappointed as auditor of the company will be put at a General Meeting.
The Trustees wish to place on record their sincere thanks to our staff, volunteers, partners, funders, schools, participants, Southend United Football Club and everyone who has supported the Foundation throughout the year.
Their continued commitment has enabled Southend United Community Foundation to make a positive difference to thousands of people across Southend-on-Sea and South East Essex.
The Trustees remain proud of what has been achieved during the year and look forward to building upon this progress in the years ahead.
The trustees' report was approved by the Board of Trustees.
Opinion
We have audited the financial statements of Southend United Community Foundation (the ‘charitable company’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Auditing Standards (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; and to respond appropriately to those risks.
Based on our understanding of the charity and industry, and through discussion with the directors and other management (as required by the auditing standards), we identified the principal risks of non-compliance with laws and regulations related to The Children Acts 1989 & 2004, Working Together to Safeguard Children 2023, Safeguarding Vulnerable Groups Act 2006, Protection of Freedoms Act 2012, Police Act 1997, health and safety and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice, Charities Act 2011, Charities (Protection and Social Investment) Act 2016, as well as the constitution of the company.
We communicated identified laws and regulations through our team and examined alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in the allocation and valuation of accrued income. Audit procedures performed by the engagement team included:
Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations and fraud, and review of the reports made by management.
Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud.
Auditing the risk of management override of controls, including through testing journal entries at the year end and post year end, and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
Testing was undertaken on random items in the balance sheet and the performance statement to avoid predictability in our testing.
Challenging assumptions and judgements made by management in its significant accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with laws and regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters
The financial statements for the year ended 31 August 2024 were not audited. Accordingly, no audit opinion was expressed on the prior period financial statements at the time.
A prior period adjustment was required within the financial statements to 31 August 2025. Further details of this prior period adjustment can be found in Note 22.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The figures for the year ended 31 August 2024 are restated due to a prior period adjustment, details of which are found in note 22.
Company registration number 05074505
Southend United Community Foundation is a private charitable company limited by guarantee incorporated in England and Wales. The registered office is Roots Hall Football Ground, Victoria Avenue, Southend-on-Sea, Essex, SS2 6NQ, UK.
The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". 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 British Pound Sterling.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The trustees have assessed the charitable company's ability to continue as a going concern. In making this assessment, the Trustees have reviewed the Foundation's financial position together with cash flow forecasts, future budgets and anticipated funding.
The following are considered by the trustees to be the most significant challenges facing the charitable company at the present time.
Ongoing integration issues regarding the new educational contract with Southend City College and the wraparound provision for new service levels.
Disappointing success rates in respect of funding applications due to tough market conditions. This is shortly to be addressed with the appointment of a new trustee with a strong financial background.
Whilst recognising the continuing challenges associated with funding, education growth and the wider economic environment, the Trustees are satisfied that appropriate plans and mitigating actions are in place and are satisfied that the entity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, at the time of approving the financial statements they conclude that these do not represent a material uncertainty that may cast significant doubt on the charitable company's ability to continue as a going concern.
They are grateful for the ongoing support of Southend United Football Club, and for this reason and those mentioned above, the financial statements have been prepared on the going concern basis.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Generally, income is recognised when the charitable company 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.
Legacies are included in income when the charity is entitled to the legacy, receipt is probable and the amount can be measured reliably. Legacies are recognised at the best estimate of the amount receivable. Any adjustments to previously recognised legacy income are accounted for in the period in which the adjustment becomes known.
Grant income is recognised in income when the charity has entitlement to the funds, receipt is probable, and the amount can be measured reliably. Grants which are subject to specific performance-related conditions are recognised as income only when the conditions have been met. Where grants are received in advance of meeting such conditions, the amounts are deferred and included within creditors. Grants receivable for the general purposes of the charity are recognised when the charity has an unconditional entitlement to the income. Any grants receivable but not yet received at the reporting date are included within debtors.
Income is deferred where the grant receivable covers performance conditions which cover a set period of time, generally being the football season. Income is allocated on a pro-rated monthly basis.
Membership fee income is recognised when the charity is entitled to receipt, it is probable that the income will be received, and the amount can be measured reliably. Where membership subscriptions relate to a specific period, income is recognised on a straight-line basis over the period to which the membership relates. Amounts received in advance relating to future periods are deferred and recognised as income in the relevant accounting period. Membership subscriptions are classified as income from charitable activities where members receive benefits that further the charity's charitable purposes. Where subscriptions are primarily in the nature of donations, they are recognised as income from donations and legacies.
Income from fundraising activities, including donations received through fundraising events, appeals, sponsorships and other fundraising campaigns, is recognised when the charity is entitled to the income, receipt is probable and the amount can be measured reliably. Income from fundraising events is recognised when the event takes place. Where fundraising income is received in advance of the related event, it is deferred and recognised in the period in which the event occurs.
Donations and sponsorship income are recognised when the conditions for recognition are met. Gift Aid recoverable on donations is recognised when the related donation is recognised and there is reasonable certainty that the claim will be received. Any fundraising income received subject to donor-imposed restrictions is included within restricted funds.
Expenditure in respect of charitable activities and raising funds are 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 estimated time spent, and depreciation charges are allocated on the proportion of income.
Governance costs include costs associated with constitutional and statutory requirements, including external audit, independent examination, trustee meetings, and preparation of statutory accounts
These costs do not include the direct management or administration of charitable activities or fundraising.
Governance costs are recognised on an accruals basis in the period to which they relate, measured at the amounts payable for goods and services received, gross of irrecoverable VAT.
Support costs comprise costs incurred directly in support of expenditure on the objects of the charity and include finance, human resources, IT, office management, premises, and administrative staff costs.
Support costs are allocated to the charitable activities and costs of raising funds on a basis consistent with the use of resources. The bases of allocation are reviewed annually and applied consistently. The principal method of allocation is in direct proportion to the level of income each activity generates in the year.
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
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.
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).
Cash and cash equivalents include cash in hand, deposits held at call with banks, and bank overdrafts.
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.
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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors 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.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
The trustees have assessed the charity's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. In making this assessment, they have considered the charity's current financial position, cash flow forecasts, available financing facilities, expected future income streams, and the prevailing economic environment.
The assessment requires the exercise of judgement, particularly in relation to assumptions regarding future income, expenditure levels, and the timing of cash receipts. Based on this assessment, the trustees have concluded that it is appropriate to prepare the financial statements on a going concern basis.
The Trustees are required to consider the allocation of support and shared costs between charitable activities and raising funds. This depends on the nature of the expenditure incurred.
The Trustees are required to estimate rates of depreciation for tangible fixed assets. These are based on the category under which the asset is categorised and calculated using an estimated residual value for each asset
Given the timing of the year-end near to the closure of educational establishments for the summer holidays, there are a significant number and value of outstanding invoices for expenditure made in respect of the year but not received or paid until some time after. The Trustees are required to extensively review post year-end records to ensure all known liabilities at the year-end are recognised.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of the charity.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Deferred income is included in the financial statements as follows:
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 restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The operating leases represent a lease of £24,000 to third parties. The original lease expired 31 August 2025 and was re- negotiated for a further term of 2 years with rentals fixed at £52,000 per annum.
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:
During the year the charitable company entered into the following transactions with related parties:
The related party is Southend United Football Club, an entity with which the Foundation shares significant operational resources, have one Director and Trustee in common and who is able to exert influence.
The charge in respect of facilities of £20,000 (2024: £10,000) covers office space including utilities, use of an executive box, tickets for league games, Youth Team playing facilities for FA Youth Cup fixtures, off-season pitch hire, Youth Team use of gym and physiotherapy facilities.
The following amounts were outstanding at the reporting end date:
The following amounts were outstanding at the reporting end date:
The charitable company had no material debt during the year.