full accounts only - The Football Stadia Improvement Fund

Modern and safe facilities
for fans to enjoy the game
Annual Report 2000/2001
Contents
Financial Statements
Chairman’s Report
3
FSIF Funds Support
4
Chief Executive’s Report
6
National Association of
Disabled Supporters (NADS)
Grant Offers
8
12
Directors’ Report
16
Report of the Independent Auditors
to the Members of the Football Stadia
Improvement Fund Limited (FSIF)
17
Profit and Loss Account
18
Balance Sheet
19
Notes to the Financial Statements
20
The FSIF remit
To create modern and safe facilities for fans to enjoy the game
Boosting funding for the lower leagues and the non-league game
Establishing better playing surfaces and modern changing facilities
FSIF Annual Report 2000/2001 | 1
2 | FSIF Annual Report 2000/2001
“If it were not for the substantial grant we
received from the FSIF we could not have
contemplated redeveloping our ground. As
the old stadium was substandard without
their help the club would by now have
ceased to exist.”
Tony Swaisland, Chairman AFC Bournemouth
Rt Hon Lord Pendry P.C.
Chairman’s Report
Following on from the work of the Football
Trust the Football Stadia Improvement Fund has continued to invest in football
grounds throughout the country.
The Taylor Report established minimum
standards for professional grounds. The football
authorities, with the backing of the government
have decided to continue this investment to the
lower leagues, establishing benchmarks for
clubs outside the professional game - the non
league and the county standard clubs.
Sport England for making investment on this
scale possible.
Throughout the last year I have had the great
pleasure to visit many clubs at all levels of the
game. The facilities that these clubs now
provide their fans and staff is a tribute to their
dedication and to their ambition.
Unprecedented levels of funding have thus
been poured into the football pyramid, creating
a safe and secure environment for fans to
enjoy our nation’s favourite game and providing
the clubs with impressive new grounds, quality
playing surfaces and modern facilities.
Never before has the game been so vibrant 19 new stadiums have been built or
redeveloped using Stadia Improvement Fund
money and 115 clubs have taken advantage
of this funding.
It is vital for the survival of clubs outside the
Premiership that this level of investment
continues and I pay a particular thanks to
our funding partners, the F.A. Premier League,
The Football Association, the Government and
Throughout the game football is changing
and changing for the better. Never before has
the English game looked so healthy as clubs
develop the type of infrastructure the modern
game demands.
FSIF Annual Report 2000/2001 | 3
Safety and Improvement Panel
Bob Murray
Chairman,
Sunderland AFC
Rob Trent
Independent
Member
Michael Cunnah
Director of Finance,
Football Association
Colin Thwaite
Former Managing
Director
Littlewoods Pools
“It has been a busy and exciting
FSIF funds support:
CCTV installations
Pitch drainage
New stands
Floodlights
Traffic signs
Turnstiles and turnstile monitoring systems
Cover to terracing
Changing rooms
Commentary headsets
Barriers and fencing
PA systems
Toilets
Irrigation
Stewards radios
Dug outs
Improved power supply
Facilities for disabled spectators
Terracing
New seats
Emergency lighting
New stadia
year. The FSIF is making a real
difference throughout the game,
particularly in all the levels of
the National League System.
David Dent
Chairman, Safety and
Improvement Panel
Almost 75% of the grant aid we
have extended this year has
gone to clubs outside the Football
League, and we look forward to
continuing our work with these
clubs to encourage sensible
ground improvement projects.
Our work with those Football
League clubs tackling stadia
redevelopment projects
continues, and this year the
supporters of Preston North End,
Blackpool, Darlington and
Macclesfield Town have new or
improved stadia to enjoy. We also
look forward to the completion of
projects at Plymouth Argyle and
Cambridge United.
Finally my sincere thanks to the
members of the Panel for their
hard work over the year, and my
congratulations to all the clubs
who received grant aid.”
David Dent
Chairman, Safety and Improvement Panel
and Former Secretary of the Football League
4 | FSIF Annual Report 2000/2001
FSIF Annual Report 2000/2001 | 5
“These awards represent a huge commitment
to grass roots football. Our project is well
under way and on course for the planned
completion in the Spring of 2002. The
combined investment in the future of our game
between ourselves and both the FSIF and the
Football Foundation, are reflective of the belief
Peter Lee
Chief Executive
we hold that this is the way forward. We are
proud to be associated with the new
Community Club concept, and would like to
thank the FSIF and Football Foundation and
their staff for their hard work and assistance
in helping us to turn this plan into a reality.”
Steve Abbley, Chairman Cirencester Town Football Club
Chief Executive’s Report
The first year in the life of the Football
Stadia Improvement Fund has been one of
consolidation and development. By the
time of our launch in June most of the Taylor
redevelopment programme had been
completed. But a large number of clubs still
face major ground redevelopment work.
We aim to work closely with these clubs
and help them through what we know can
be a difficult and demanding experience.
We have continued to support much needed
safety and improvement work at Football
League clubs, helping with the installation of
new PA and CCTV systems and ensuring
that these vital safety features remain up to
date. Our priorities also include ensuring that
clubs do not lose sight of the need to
improve toilet facilities, or of their obligations
under the Disability Discrimination Act 1995
6 | FSIF Annual Report 2000/2001
to provide better access and facilities for their
disabled fans.
This year’s figures speak for themselves,
36 new stands, 73 major capital projects
and 14 improved pitch projects.
At the other end of the spectrum, it is
pleasing to see that 88 non league clubs have
taken advantage of the FSIF’s funding
packages available all the way down to local
county leagues.
All this adds up to an impressive £19m
investment. The momentum must continue,
creating the type of facilities that clubs
and fans in the Premier League and Division
One have become used to – facilities all fans
and players deserve.
FSIF Annual Report 2000/2001 | 7
NADS
Earlier this year we commissioned the National Association of Disabled
Supporters (NADS) to conduct a comprehensive audit of facilities for disabled fans at
every ground in the Premier League, Football League and Football Conference.
The NADS survey looked at some of the key
areas of concern for disabled fans, for
example which clubs provided disabled fans
with a decent view, a choice of where to sit
and with whom, and which provide cover
from the weather. The audit was undertaken
to highlight best practice and make clubs
aware of the steps they can take to make
their grounds more accessible.
Speaking at the launch of the survey Chairman
of the Association, Alan Milner said: “We have
been delighted by the positive response and
8 | FSIF Annual Report 2000/2001
support from the clubs we have visited, many
of whom are genuinely eager to get it right
and provide better facilities. Football fans take
great pride in their clubs and it’s not just about
their performance on the pitch – it’s about
everything that the clubs stand for and that
includes attitudes to disabled supporters.”
The research identifies best practice and will
form the backdrop to all future Football Stadia
Improvement Fund work. The FSIF will be
using the survey to encourage clubs
throughout the game to take full account of
the needs of their disabled fans.
Clubs planning new developments will be
encouraged to discuss their plans with their
disabled supporters and local access groups.
They will be encouraged to exceed “Green
Guide” standards where appropriate. Other
clubs will be asked to look at more modest
projects to improve access, increase the
level of provision for both wheelchair users
and the ambulant disabled, and to provide
commentary systems for those who are
visually disabled. Substantial grant aid will
be available to clubs who choose to improve
their facilities in this way.
Disabled Facilities
All FSIF work needs to include disabled
provision whether it be installing new
turnstiles or building a new stand. All our
redevelopment work must meet or exceed
Green Guide standards. Two examples
of such work are the match commentary
systems for blind and partially sighted
fans at Birmingham City’s St Andrews
Ground and the emergency evacuation
chairs for disabled fans at the Field Mill
Ground - the newly redeveloped home of
Mansfield Town.
FSIF Annual Report 2000/2001 | 9
Susan O’Brien
Head of Safety and
Improvement
“The FSIF has a unique role to play in the
System a club has reached. Conference clubs
development of the game’s infrastructure at both
can apply for up to £400,000 every three years,
league and non-league levels. The influence that
Level 2 clubs (feeders into the Conference)
can be brought to bear on projects, no matter
£150,000 and Level 3, £100,000. For the first
what size, ensures that best practice can be
time this year we have been able to offer
achieved at all levels. This is especially
support to the next level of the structure, with a
important now that our grant regime reaches
£10,000 ceiling for clubs at Level 4.
down to clubs at Levels 2, 3 and 4 of the
10 | FSIF Annual Report 2000/2001
National League System. Pre-application advice
We are, however, aware of the pressures
to these clubs can ensure that they work to a
ground grading requirements are placing on
long term development plan, phased into smaller
clubs, and look forward to these being
projects which ensures that their finances are
rationalised in the proposed restructuring of
not over-stretched.
the National League System.”
This is why grant aid for non-League clubs is
Susan O’Brien
subject to ceilings depending on the level of the
Head of Safety and Improvement
FSIF Annual Report 2000/2001 | 11
Grant Offers
Club
Grant Offer
£’s
Eligible Cost
£’s
Abingdon United Football Club
70,558
88,198
New changing rooms
Accrington Stanley Football Club
81,787
96,220
Main stand and upgrading of floodlights
AFC Aldermaston
10,000
25,000
New floodlights
2,200
2,500,000
3,324
6,000,000
Ampthill Town FC
21,800
33,560
Installation of floodlights
Ashton Athletic FC
10,000
15,638
Pitch drainage and surface treatment
Banbury United Football Club
20,067
22,297
Pitch drainage
Barnet Football Club
65,073
100,113
Safe standing work
Barwell Football Club
51,051
63,814
New seated stand
Beaconsfield Sycob Football Club
5,520
11,964
Replacement floodlights
Biggleswade Town Football Club
8,675
10,206
Covered stand with 39 seats and
terraced rows
Billingham Synthonia Football Club
4,680
6,685
Bishop Stortford Football Club
14,600
16,391
Pitch drainage
Boston United Football Club
16,300
20,377
Upgrade floodlights to conference standard
Bridgewater Town (1984) Football Club
31,688
42,866
Fencing, drainage, floodlights, PA system
and pathways
Brigg Town Football Club
59,126
78,835
New stand, turnstiles and perimeter fencing
Budleigh Salterton Football Club
10,000
29,167
Floodlighting
Burton Albion Football Club
17,443
77,732
21,804
90,603
Rebuilding turnstiles
Main stand extension and disabled toilets
Cambridge City Football Club
23,000
107,300
33,713
315,932
Canvey Island Football Club
68,000
85,013
30,000
2,750
1,000,000
164,000
2,600
46,409
3,950
1,225,300
1,225,300
4,000
Chesham United Football Club
34,099
52,460
Cirencester Town Football Club
200,000
476,875
34,770
43,459
Crewe Alexandra
1,730
2,390
2,655
3,414
Base station and radios
Colour cameras to replace b/w ones
Crystal Palace Football Club
6,000
9,250
Replacement of pitch perimeter barrier
400,000
456,670
1,200,000
10,965,851
AFC Bournemouth
Cheltenham Town Football Club
Corsham Town Football Club
Dagenham and Redbridge FC
Darlington Football Club
12 | FSIF Annual Report 2000/2001
Project
Seven traffic signs
Redevelopment of Dean Court
Non slip flooring in the changing rooms
Pitch drainage and automatic irrigation system
Extension to the main stand for 100 more seats
Ground improvement proposal
New floodlighting
25 Stewards’ radios
New stand and toilet
Wymans Stand redevelopment: loan
Traffic management scheme
New floodlights
New 1,000 capacity stadium
Floodlights
New stand and floodlights
New stadium
Club
Grant Offer
£’s
Eligible Cost
£’s
9,500
10,558
Upgrading of the football floodlighting
system and replacement lamps
60,000
75,182
New stand
4,140
5,640
43,022
47,802
Football League Ltd
164,882
164,882
Forest Green Rovers Football Club
169,000
192,100
Fulham Football Club
52,500
80,807
New toilet facilities at the Putney End
Gainsborough Trinity Football Club
36,147
40,163
Barriers, fencing, hard standing and
other work
Gravesend and Northfleet FC
120,000
150,000
Hadleigh United Football Club
23,400
36,000
New car park
Halesowen Town
55,000
64,832
Replacement floodlights
Hallam Football Club
25,000
34,157
New changing rooms for players and officials
Harrowby United Football Club
14,500
23,794
Installation of floodlights
150,000
320,000
Hayes Football Club
49,980
55,450
Hednesford Football Club
82,234
102,792
Cover of terraces, emergency lighting
Hemel Hempstead Town Football Club
35,206
85,400
54,163
131,487
Additional seating, toilets and turnstiles
New terraces
Henley Town Football Club
62,000
104,577
Floodlights, stand changing and fencing
Hucknall Town Football Club
24,820
38,182
Changing rooms and electricity supply
Hyde United Football Club
11,086
17,055
Repairs and upgrading of floodlights
Keynsham Town Football Club
14,750
22,686
Replacement of defective wall and improved
disabled toilets
233,416
2,036
291,771
2,715
Letchworth Football Club
33,123
50,969
Leyton Orient Football Club
9,181
84,000
29,250
12,175
105,000
45,000
1,385,860
1,600,000
800
1,230
64,260
71,400
300
516
Milton United
32,720
36,355
Levelling and draining playing surface
Newcastle Blue Star
80,000
99,629
Upgrade and additional changing facilities
and new perimeter fencing
Darwen Football Club
Deal Town Football Club
Dorchester Town
Farsley Celtic
Havant and Waterlooville Football Club
Kidderminster Harriers Football Club
Macclesfield Town Football Club
Mansfield Sports Football Club
Mickleover Sports Football Club
Millwall Football Club
Project
Pitch side shelters
Redevelopment work
Football Stewarding Qualification:
Years 2 and 3
Demolition and erection of new stand, toilets,
turnstiles and additional terracing
Additional seats, floodlighting, toilets, hard
standing and fencing
Renewal of stands
Barriers
Safety work required on promotion
Stewards’ radios
Floodlights, disabled accommodation and
new dugouts
Replace old CCTV facilities
Improve toilets and South Stand
Floodlight installation
Estate Road Stand and other
improvement work
Evacuation chairs for disabled spectators
New stand and drainage
Four traffic and one pedestrian signs
FSIF Annual Report 2000/2001 | 13
Club
Grant Offer
£’s
Eligible Cost
£’s
13,973
15,526
Norwich City
850
1,300
Oadby Town
19,300
21,982
Pitch drainage, sand slitting and renovation
Oldbury United Football Club
13,743
21,143
Refurbishment of floodlighting system
1,500,000
300,000
4,000,000
4,00,000
Portsmouth Football Club
26,040
52,080
Replacement floodlights
Potters Bar Town Football Club
45,650
65,700
Seated stand and dugouts
1,000,000
3,700,000
Prudoe Town Football Club
35,630
44,537
Changing rooms and ground improvements
Rossendale United Football Club
22,812
35,096
Replace full floodlighting systems
Scunthorpe United Football Club
10,320
13,760
Improvement to ground stand lighting and
emergency lighting
Sevenoaks Town
10,000
48,425
New changing rooms
100,000
157,906
Sheffield Wednesday Football Club
3,300
5,000
Traffic/pedestrian signs
Shrewsbury Town Football Club
5,070
7,800
New turnstile monitoring system
31,900
44,500
7,750
9,717
Solihull Borough Football Club
130,000
200,000
Southend Manor Football Club
7,540
11,600
Ground grading and hardstanding
St Blazey Football Club
10,000
14,812
Perimeter wall
St Francis Football Club
10,000
13,770
New drainage system
Stalybrdge Celtic Football Club
26,818
29,798
Pitch work
Stockbridge Football Club
10,000
28,863
New floodlights
6,633
10,205
Terracing and turnstiles
Stoke City Football Club
22,100
27,652
Fencing
Sutton United
53,882
76,626
Floodlights pitch drainage
Swindon Supermarine Football Club
21,440
31,334
48,240
34,816
New stand
New floodlights
Swindon Town Football Club
8,221
6,172
10,962
8,230
New stewards’ radio system
Millennium Compliancy
Telford United Football Club
400,000
833,407
Phase one of the new stadium project
Torquay United Football Club
12,500
167,000
16,851
265,000
New perimeter barrier fence
New Babbacombe End
Tranmere Rovers Football Club
18,781
34,369
Turnstile monitoring system, emergency
lighting and fire protection work
Tunbridge Wells Football Club
10,000
58,373
New clubhouse
Uxbridge Football Club
40,000
50,000
New toilet facilities
North Ferriby United
Plymouth Argyle Football Club
Preston North End Football Club
Sheffield Football Club
Skelmersdale United Football Club
Soham Town Rangers
Stockbridge Park Steels FC
14 | FSIF Annual Report 2000/2001
Project
Pitch drainage
Traffic signage scheme
Phase 1 of the redevelopment of Home Park
Loan: redevelopment of Home Park
Construction of South Stand
Safety and improvement work
New changing and officials rooms
New boundary fence
Stands, changing rooms, floodlights
and boundary fencing
Club
Grant Offer
£’s
Eligible Cost
£’s
Vosper Thornycroft Football Club
10,000
26,975
Floodlighting
Walton Casuals Football Club
19,963
22,182
Perimeter fencing
Watford Football Club
87,200
116,310
North Stand toilets
Welling United Football Club
250,000
505,162
New East Stand and social club
West Auckland Football Club
25,000
27,838
West Midlands Police
2,223
3,420
Camera for use at Wolverhampton Wanderers
West Midlands Police: Walsall
1,186
1,825
Hand held CCTV for Walsall FC
37,000
46,813
4,238
5,289
6,239
7,839
Renewal of electrical mains and installation of
emergency lighting
Renew steel stanchions behind goal
Whitstable Town
5,550
6,161
New roof to stand
Whyteleafe Football Club
11,412
16,362
Covered standing, fencing pitch drainage
Wigan Athletic Football Club
11,000
16,937
Safety fencing
Woodbridge Town
60,338
75,422
Pitch drainage, spectator accommodation
and turnstiles
Woodley Sports FC
15,019
16,688
Pitch drainage and seated stand and
changing rooms
Worcester City Football Club
10,000
15,364
Improved egress and emergency exits
Wycombe Wanderers Football Club
4,420
20,000
6,800
35,900
New turnstile monitoring system
Floodlighting
124,150
191,000
Weymouth Football Club
Whitby Town Football Club
Yeovil Town
Project
Upgrading players and officers changing
rooms, main stand refurbishment and
electrical work
Roofing of terraces
Cover to South stand terrace and viewing
facilities for disabled spectators
FSIF Annual Report 2000/2001 | 15
Financial Statements
for the year ended 31 May 2001
DIRECTORS’ REPORT
for the period ended 31 May 2001
The directors present their report and the audited financial
statements of the company for the period commenced on 30
May 2000, the date of formation of the company, to 31 May
2001.
Membership
The members of the company are The Football Association
and the F.A. Premier League. The company is a Company
Limited by guarantee. Each member of the Company
undertakes to contribute such amount as may be required,
not exceeding £1, to the Company’s assets if it should be
wound up while they are a member or within one year after
they cease to be members.
Review of activities
The principal activity of the company is to provide funding
for activities relating to the safety and re-development of
football stadia.
The results for the period are set out in the profit and loss
account on page 18.
Both the level of activity and the period end financial position
were satisfactory. The directors expect the level of activity to
increase substantially over the next few years.
Directors’ responsibilities statement
Company law requires the directors to prepare financial
statements for each financial year which give a true and fair
view of the state of affairs of the company as at the end of
the financial year and of the profit or loss of the company for
that period. In preparing those financial statements, the
directors are required to:
• select suitable accounting policies and then apply them
consistently;
• make judgements and estimates that are reasonable and
prudent;
• state whether applicable accounting standards have been
followed;
• prepare the financial statements on the going concern
basis, unless it is inappropriate to presume that the
company will continue in business.
The directors are responsible for keeping proper accounting
records which disclose with reasonable accuracy at any time
the financial position of the company and to enable them to
ensure that the financial statements comply with the
Companies Act 1985. They are also responsible for
safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud
and other irregularities.
Donations received in the period are set out in Note 10 to
the financial statements, and this period include monies
received from the F.A. Premier League and Sport England.
Future funding will be received from monies donated to the
company by operators of Football Pool schemes under the
Government Reduction in Pool Betting Duty initiative.
Auditors
A resolution proposing the reappointment of
PricewaterhouseCoopers as auditors to the company will be
proposed at the next annual general meeting.
By order of the board
Directors
Directors are appointed as follows:
P A Lee
The Football Association:
Two directors
The F.A. Premier League:
Two directors
Sport England:
One director
The Department for Culture, Media and Sport: One director
The directors of the company during the period, and up to the
date of this report were:
Appointed
Rt Hon Lord Pendry P.C.
T D Brooking
D G Richards
R C Scudamore
G Thompson
A Crozier
F Pattison
9 February 2001
16 | FSIF Annual Report 2000/2001
Resigned
9 February 2001
Company secretary
Date: 25 March 2002
p
REPORT OF THE INDEPENDENT AUDITORS TO THE
MEMBERS OF THE FOOTBALL STADIA IMPROVEMENT
FUND LIMITED
We have audited the financial statements on pages 18 to 24.
Respective responsibilities of directors and auditors
The directors are responsible for preparing the Annual
Report. As described on page 16, this includes responsibility
for preparing the financial statements in accordance with
applicable United Kingdom accounting standards. Our
responsibilities, as independent auditors, are established in
the United Kingdom by statute, the Auditing Standards
Board and our profession’s ethical guidance.
We report to you our opinion as to whether the financial
statements give a true and fair view and are properly prepared
in accordance with the United Kingdom Companies Act.
We also report to you if, in our opinion, the directors’ report is
not consistent with the financial statements, if the company
has not kept proper accounting records, if we have not
received all the information and explanations we require for
our audit, or if information specified by law regarding
directors’ remuneration and transactions is not disclosed.
We planned and performed our audit so as to obtain all the
information and explanations which we considered necessary
in order to provide us with sufficient evidence to give
reasonable assurance that the financial statements are free
from material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion we also evaluated
the overall adequacy of the presentation of information in the
financial statements.
Opinion
In our opinion the financial statements give a true and fair
view of the state of the company’s affairs at 31 May 2001 and
of its loss for the period then ended and have been properly
prepared in accordance with the Companies Act 1985.
PricewaterhouseCoopers
Chartered Accountants and Registered Auditors
London
Date: 27 March 2002
We read the other information contained in the Annual Report
and consider the implications for our report if we become
aware of any apparent misstatements or material
inconsistencies with the financial statements.
Basis of audit opinion
We conducted our audit in accordance with auditing
standards issued by the Auditing Practices Board. An audit
includes examination, on a test basis, of evidence relevant to
the amounts and disclosures in the financial statements. It
also includes an assessment of the significant estimates and
judgements made by the directors in the preparation of the
financial statements, and of whether the accounting policies
are appropriate to the company’s circumstances, consistently
applied and adequately disclosed.
FSIF Annual Report 2000/2001 | 17
PROFIT AND LOSS ACCOUNT FOR THE PERIOD 30 MAY 2000 TO 31 MAY 2001
Notes
Income
Interest received
Expenditure
Operating expenses
Period ended
31 May 2001
£’000
3
1,445
2
Operating profit
1,047
Gift aid payment to The Football Foundation Limited
Loss before taxation
(398)
(1,348)
6
Taxation
(301)
–
Loss after taxation
(301)
Retained loss for the period
(301)
All activities are continuing.
The company had no gains or losses other than those included in the result above. Therefore no separate statement of total
recognised gains and losses has been presented.
There is no difference between the profit before tax and the result for the period and their historical cost equivalents.
18 | FSIF Annual Report 2000/2001
BALANCE SHEET AS AT 31 MAY 2001
Notes
Fixed assets
Intangible assets
Current assets
Debtors - due within one year
- due in more than one year
Cash at bank and in hand
7
8
31 May 2001
£’000
(257)
2,266
3,822
26,640
32,728
Creditors: amounts falling due within one year
9
(1,555)
Net current assets
31,173
Total assets less current liabilities
30,916
Funds: falling due in more than one year
10
(31,217)
Net liabilities
(301)
Capital and reserves
Profit and loss account
(301)
The financial statements on pages 18 to 24 were approved by the board of directors on 25 March 2002 and were signed on its
behalf by:
T
Director
FSIF Annual Report 2000/2001 | 19
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MAY 2001
1 PRINCIPAL ACCOUNTING POLICIES
The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom.
A summary of the more important accounting policies, which have been applied consistently, is set out below.
Basis of accounting
The financial statements are prepared in accordance with the historical cost convention.
Cash flow statement
The company qualifies as a small company under the terms of Section 247 of the Companies Act 1985 and consequently has
taken advantage of the exemption provided by Financial Reporting Standard No. 1 (Revised) relating to small companies and has
not published a cash flow statement.
Goodwill
Negative goodwill represents the excess of the fair value of the consideration paid for assets acquired from The Football Trust over
the fair value of those assets.
Negative goodwill is credited to the profit and loss account on a straight-line basis over its expected useful economic life.
Donations
Capital donations received during the period are accounted for on a cash received basis, and have been included in the movements
in capital funds. Donations are accounted for on the balance sheet.
Grants
Grants are accounted for on a cash paid basis, as there remains an element of conditionality until the payment is made. Grant
expenditure is accounted for on the balance sheet in line with capital donations.
Pension costs
The company makes payments into a personal pension scheme in respect of certain employees, the assets of which are held
separately from those of the company in an independently administered fund. Contributions under this money purchase scheme are
accounted for as they fall due for payment.
2 NET OPERATING EXPENSES
Net operating expenses are stated after charging/(crediting):
Period ended
31 May 2001
£’000
Amortisation of negative goodwill
Auditors’ remuneration – for audit services
Auditors’ remuneration – for non-audit services
(87)
10
5
3 INTEREST RECEIVABLE
Period ended
31 May 2001
£’000
Bank interest received
20 | FSIF Annual Report 2000/2001
1,445
4 DIRECTORS’ EMOLUMENTS
Staff costs include the following remuneration paid to directors:
Period ended
31 May 2001
£’000
Wages and salaries
Social security costs
Pension costs
25
2
–
27
5 EMPLOYEES AND STAFF COSTS
Period ended
31 May 2001
£’000
Wages and salaries
Social security costs
Pension contributions
84
9
4
97
The employees of The Football Stadia Improvement Fund Limited have joint contracts with The Football Foundation. A portion of
their costs incurred have been recharged to The Football Stadia Improvement Fund Limited by The Football Foundation.
6 TAXATION
The Football Stadia Improvement Fund Limited gifts its taxable profit for the year to The Football Foundation, which is a registered charity.
No liability to Corporation Tax therefore arises.
7 INTANGIBLE FIXED ASSETS
Negative
Goodwill
£’000
Cost
At 1 June 2000
At 31 May 2001
(344)
(344)
Amortisation
At 1 June 2000
Charge for period
–
87
At 31 May 2001
87
Net book value
At 31 May 2001
(257)
At 1 June 2000
(344)
The negative goodwill which arose on the acquisition of assets from The Football Trust is amortised over four years, this being the
period over which The Football Stadia Improvement Fund Limited will receive its share of funding from The Football Association,
the F.A. Premier League and the Government.
FSIF Annual Report 2000/2001 | 21
8 DEBTORS
Period ended
31 May 2001
£’000
Loans to football clubs
- amounts due within one year
- amounts due after one year
Other debtors
Prepayments
2,242
3,822
20
4
6,088
Loans to football clubs represent amounts advanced to certain F.A. Premier League and Football League clubs. The loans are
repayable in periods of up to five years and are interest free. The loans are guaranteed by the F.A. Premier League and Football
League respectively.
9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Period ended
31 May 2001
£’000
Bank loans and overdrafts
Trade creditors
Accruals
56
28
1,471
1,555
10 CAPITAL FUNDS
Reduction
in Pool
Betting
Duty
account
£’000
Littlewoods
Football FA Premier
Spot Association
League
the Ball Contribution Contribution
account
account
account
£’000
£’000
£’000
Balance at 1
June 2000
8,133
347
8,894
17,478
Funds added
3,718
-
-
2,000
11,851
347
8,894
(1,692)
Less:
Grants paid out
of capital
(4,845)
(18)
Funds held for
Scotland,
Wales and
Northen
Sport
Ireland
England
(Note 11)
£’000
£’000
(477)
Total
£’000
6,598
40,973
5,058
1,962
12,738
19,478
4,581
8,560
53,711
(6,638)
(5,813)
(1,994)
(21,000)
Funds released
-
-
-
-
-
(1,487)
(1,487)
Expenses
-
-
-
-
-
(7)
(7)
7,006
329
7,202
12,840
Balance at
31 May 2001
22 | FSIF Annual Report 2000/2001
(1,232)
5,072
31,217
11 FUNDS HELD FOR SCOTLAND, WALES AND NORTHERN IRELAND
Scotland
Scotland
Littlewoods Reduction in
Spot the Pool Betting
Ball Account
Duty
£’000
£’000
Transferred in
at 1 June 2000
Wales
Scottish
Football
Association
Contribution
Account
£’000
Reduction
in Pool
Betting
Duty
£’000
Northern Ireland
Football
Association
of Wales Littlewoods
Contribution
Spot The
Account Ball Account
£’000
£’000
Reduction
in Pool
Betting
Duty
£’000
Total
£’000
575
-
1,748
575
14
3,973
248
323
3
232
14
70
-
859
6
6,598
1,757
285
-
(4)
(69)
(1)
(4)
-
(2)
(80)
575
2,333
4,151
325
242
70
863
8,560
Less:
Grants paid out
of capital
(88)
(1,460)
(274)
-
(172)
-
-
(1,994)
Funds released
-
(493)
-
(272)
-
-
(722)
(1,487)
(7)
-
-
-
-
-
-
(7)
480
380
3,878
53
70
70
141
5,072
Funds added
Interest received
Tax payable
on interest
Expenses
Balance at
31 May 2001
Under the Deed of Agreement between the Trustees of all The Football Trust 1998 and The Football Stadia Improvement Fund
Limited, the assets referable to England, net of associated liabilities were transferred to The Football Stadia Improvement Fund
Limited from the close of business on 31st May 2000.
Under the Deed of Agreement between the Trustees of The Football Trust 1998, The Football Stadia Improvement Fund Limited
and The Football Foundation, the assets of The Football Trust, net of associated liabilities representing the assets referable to
Scotland, Northern Ireland and Wales, were transferred to The Football Stadia Improvement Fund Limited on a restricted basis from
the close of business on 31st May 2000.
Under the Deed of Agreement between the Trustees of The Football Trust 1998 and The Football Foundation, the balance of
assets, net of associated liabilities, not included within the above were transferred to The Football Foundation from the close of
business on 31st May 2000.
12 GRANT COMMITMENTS
31 May 2001
£’000
Grant commitments
Loans awarded but not paid
25,726
1,964
27,690
Grant commitments represent awards made in accordance with the objects of the company that had yet to be paid at the year end.
FSIF Annual Report 2000/2001 | 23
13 RELATED PARTY TRANSACTIONS
Mr D G Richards and Mr R C Scudamore are the Chairman and Chief Executive of the F.A. Premier League respectively. The F.A.
Premier League donated £2m to The Football Stadia Improvement Fund Limited during the year.
Mr T D Brooking is the Chairman of Sport England. Sport England donated £5.058m to The Football Stadia Improvement Fund
Limited during the year.
As described in Note 5 above, employees of The Football Stadia Improvement Fund Limited have joint contracts with The Football
Foundation, and accordingly, a portion of their costs incurred have been recharged to The Football Stadia Improvement Fund Limited.
The details are disclosed in Note 5. In addition The Football Foundation recharges The Football Stadia Improvement Fund Limited
for an agreed proportion of its running costs.
14 ULTIMATE CONTROLLING PARTY
The Football Association and the F.A. Premier League each control 50 per cent of The Football Stadia Improvement Fund Limited.
Accordingly there is no ultimate controlling party.
24 | FSIF Annual Report 2000/2001
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