Charlty number: 1048993 THE MIKE GOOLEY TRAILFINDERS CHARITY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE MIKE GOOLEYTRAILFINDERS CHARITY CONTENTS Page Reference and Administratlve Detalls of the Charity, Its Trustees and Advlsers Trustses. Report Independent Audltors. Report on the Flnancial Statsments Statement of Financlal Activities 10 Balance Shaet 11 Statement of Cash Flows 12 Notss to the Flnancial Statements 13-22
THE MIKE GOOLEY TRAILFINDERS CHARITY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees Sir M D W Gooley, C.B.E Mrs B M Gooley Mr T P Gooley Lady F K Gooley Ms S H E Machin Mr J C O'Dowd Charlty registered number 1048993 Registered offlce 9 Abingdon Road London W8 6AH Page 1
THE MIKE GOOLEY TRAILFINDERS CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present thelr annual report together with the audited financial statements of the Charity for the 1 July 2023 to 30 June 2024. The Trustees confirm that the Annual Report and financial statements of the charlty comply with the current statutory requirements. the requirements of the charity's governing document and the provislons of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Objoctlves and activitles Poli¢les and objectives The Charity's principal objective is to benefit other bodies, trusts, associations, local community, institutions or organisatlons established or about to be established for charitable purposes. In settlng objectives and plannlng for activities, the Trustees have given due consideration to general guidance published by the Charlty Commlssion relating to public benefit, including the guidance 'Public beneflt,. running a charity (PB2)'. Achievements and perfonnance a. Review of actlvlties Donations, gift aid and investment income during the year totalled £4,673,561 (2023: £8,150,415). Outgoings totalled £4,263,106 (2023: £5,489,405). Income exceeded expenditure by £410,455 (2023: £2,661,010), increasing the balance of the general fiJnd carried forward to £28,735,149 (2023: £28,324,694). Financial revlew . Going concern After making appropriate enquirles, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further detalls regarding the adoption of the going concem basis can be found in the accounting policies. Structura. governance and management a. Constitutlon The Charity was registered on 9 September 1995 by means of a Trust Deed executed by the Trustees and commenced trading on that date. The Charity (Registered Number 1048993) is administered from 9 Abingdon Road, London, W8 6AH. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the tenns of the Trust deed. Page 2
THE MIKE GOOLEY TrAILFINDERS CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure, governance and management (continued) c. Organisational Structure and decision-making policie5 The Founder has the power to appoint new or additional Trustees. After the death of the Founder, this power shall be vested in such person or person as the Founder shall, by deed or will, nominate for the purpose. The Mike Gooley Trailfinders Charity is a simple organisation in as much that: There are no payroll costs, and administrative expenses are minimal. All those who work for the Charity do so without remuneration. The objectlves of the Charity are limited, being essentially to provide support for medical research. community projects which encourage young people in outdoor activities and Armed Forces veteran organisations. It does not seek or require fund raising from the public. There are no fund raising costs. Income generation derives almost exclusively from donations made by Trailfinders Limited, an entity wholly owned by the Executive Chairman Sir M D W Gooley, C.B.E, who is also the Founder Trustee of the Charity. d. Policies adopted for the Induction and tralning of Trustees New Trustees are met by the founder of the charity and are given a detailed briefing. Trustees have access to appropriate Iraining courses as required. e. Land and Bulldlngs The Charity continues to own a sports ground. which it leases to Trailfinders Sports Club Limited, a company in which Sir M D W Gooiey, C.B.E and Lady F K Gooley are unpaid directors with no vested interest. f. Financial risk management The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures a in place to mitigate exposure to the major risks. The level of the bank balance is closely monitored by the Trustees to ensure the funds contlnue to eam a competitive rate of interest. The simple nature of the Charity and the small number of transactions enable the control and reconGiliation of both the current and treasury accounts to the penny. The Trustees have performed a risk assessment and consider the risk to the Charity to be minirnal. The Trustees have seen fit to preclude investment in the Stock Exchange and have never traded a share since foundation. The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems are in place to manage and review any identified risk on a regular basis. The actions needed to be taken if a recognised potential risk occur5, or if a change in the likelihood of a risk occurring is identified, have also been considered and are monitored by the Trustees. At the end of the year the balance sheet reserves of £28,735,149 were held in an unrestricted general fund, comparad to £28,324,694 in the previous year. Of this amount, £27.619,565 (2023: £25.307,858) is represented by freehold properties, leaving free reserves of £1,115.584 (2023: £3,016,836). Page 3
THE MIKE GOOLEY TRAILFINDERS CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Plans for future periods The Founder of the Charity is also the sole ovffler of the Trai5finders Group of companies, which is the Charity's main benefactor, and so continued incoming resour$ are assured always, providing these entities generate sufficient profit from the field of travel and tourism. He has indicated that the Charity will benefit substantially by the way of legacy on his death. As touched on in other parts of this Report, the aims and key objectives of the Charity are to financially support causes within the United Kingdom, in particular youth and education. the Armed Forces, such as through military charities, and public services such as medical research. The Charity does not seek to raise funds from the public and so there are no planned activities. Statement of Trusta•s' responsibiliti•s The Trustees are responsible for preparing the Trustees, Report and the financi81 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law requires the Trustees to prepare financial statements for each financial year. The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming reSoUrS and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles of the Charities SORP 2019 (FRS 102)., make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of informatlon to auditors Each of the persons who are Trustees at the time when this Trustees, Report is approved has confinned that: so far as that Trustee is aware, there is no relevant audit infomation of which the charity's auditors are unaware. and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitvs auditors are aware of that information. Page 4
THE MIKE GOOLEY TRAILFINDERS CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Auditors The auditors, Xeinadin Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: Sir M D W Gooley C.B.E (Chair of Trustees) Date: Mr J C O'Dowd Page 5
THE MIKE GOOLEY TRAILFINDERS CHARITY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MIKE GOOLEY TRAILFINDERS CHARITY Oplnion We have audited the financial statements of The Mike Gooley Trailfinders Charity (the 'charity') for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accountlng 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 Financlal Reportlng Standard applicable In the UK and Republic of Ireland, (Unlted Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the charity's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basi5 for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsiblllties in accordance with these requlrements. We believe that the audit evidence we have obtained is sufficient and appropriate to provlde a basis fcK our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concem 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 charity's ability to continue as going concern for a period of at least Iwelve 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. Page 6
THE MIKE GOOLEY TRAILFINDERS CHARITY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MIKE GOOLEY TRAILFINDERS CHARITY (CONTINUED) Other Information The other inforrnation comprises the informatiorb induded in the Annual Report other than the financial staterrEnts and our Auditors, 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 expliutly stated in our report. we do not express any form of assuran conclusion thereon, Our responsibility IS to read the other information and, in doing so. consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwlse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a materlal misstatement in the financial stat8ments 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. Matter5 on which we are requir•d to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the infonnation given in the Trustees, Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept. or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Responsibilltles of trustees As explained more fully in the Trustees. Responsiblllties Statemant, the Trustees are responsib18 for the preparation of the financial statements and for being satisfied that they give a true and falr view, and for such internal control as the TNStees deternine is necessary to enable the preparation of finanGial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charlty's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operation5, or have no realistic altemative but to do so. Page 7
THE MIKE GOOLEY TRAILFINDERS CHARITY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MIKE GOOLEY TRAILFINDERS CHARITY (CONTINUED) Auditors. responsibillties for the audlt of the financial statements We have been appointed as audltor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the flnancial statements as a whole are free from materlal misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinlon. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS (UK) wlll always detect a rnaterlal misstatement when it exlsts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularltles, Including fraud, are Instances of non-compliance wlth laws and regulations. We design procedures in line with our responsibillties, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detectlng irregularities, induding fraud is detailed below: Enquiry of management and those charged with governance around actual and potential litigation and claims. Enquiry of management and those charged with govemance to identify any instances of non-compliance with laws and regulations related to Charities Act 2011 and induding the provisions of 8pplicable legislation and guidance issued by the Charity Commission. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations, such as the Companies Act 2006., Pefonning audit work over the risk of management oveffide of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the nomal course of business and reviewing accounting estimates for bias. 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 regulation. This risk increases the more that compllance with a law or I'egulation is removed from the events and transactions reflected in the financial statements, as we will be less Ilkely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's webstte at: W.frC.o -uklaudltorsres onsibilities. This descript5on fomis part of our Auditors, Report. Page 8
THE MIKE GOOLEY TRAILFINDERS CHARITY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MIKE GOOLEY TRAILFINDERS CHARITY (CONTINUED) Use of our report This report is made solely to the Charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an Auditors, 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 Charity's and its trustees, as a body, for our audit work. for this report. or for the opinions we have formed. Xeinadin Audit Limited Chartered Accountants Statutory Auditors 8th Floor Becket House 36 Old Jewry London Date: 18 Feb 25 Page 9
THE MIKE GOOLEY TRAILFINDERS CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income from: Donations Interest receivable and rental income 4,500.000 173,561 4,500,000 173,561 8,000.000 150.415 Total income 4,673,561 4.673,561 8,150.415 Expenditure on: Donations and sponsorship Administration Depreciation 3,443.359 94,991 724.756 3.443,359 94.991 724,756 4,733.147 75,433 680,825 10 Total gxpendlture 4,263.106 4.263,106 5,489.405 Net movement in funds 410,455 410,455 2,661,010 Reconciliation of funds: Total funds brought for4vard Net movement in funds 28,324,694 410,455 28,324,694 410,455 25,663, 684 2,661,010 Total funds carrled forward 28,735,149 28,735,149 28,324,694 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 22 form part of these financial statsments. Page 10
THE MIKE GOOLEY TrAILFINOERS CHARITY CHARITY NUMBER: 1048993 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Nots Fixed assets Tangible assets 10 28,379.221 25,523, 198 28,379,221 25,523. 198 Current assets Debtors Cash at bank and in hand 11 162,196 254,563 74,577 2, 852,395 416,759 2.926,972 Creditors: amounts falling due within one year 12 (60.831) (125,476) Net current assets 355,928 2,801,496 Total assets less Gurrent liabllltles 28,735,149 28.324,694 Total net assets 28,735,149 28,324,694 Charity funds Unrestricted funds 13 28,735,149 28,324,694 Total funds 28,735,149 28,324,694 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Sir M D W Gooley (Chair of Trustees) Date: i ¥(ozlis The notes on pages 13 to 22 form part of these financial ststements. Mr J C O'Dowd Page 11
THE MIKE GOOLEY TRAILFINDERS CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 982,947 3,391,507 Cash flows from investing actlvlties Purchase of tangible fixed assets Donation of tangible fixed assets (3,580,779) (1,264,157) 42.281 Net cash used In investlng activitles (3,580,779) (1,221,876) Cash flows from financlng activities Net cash provided by financing activitles Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (2,597,832) 2.169,631 2,852,395 682,764 Cash and cash equivalents at the end of the year 254,563 2,852,395 The notes on pages 13 to 22 form part of these financial statements Page 12
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General infonnation The Mike Gooley Trailfinders Charity is a Charity reglstered in England, United Kingdom. The address of the registered office is given in the reference and administrative details of the Charity, its Trustees and advisers section of these finanaal ststements. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accountlng 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 Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) and the Charities Act 2011. The Mike Gooley Trailfinders Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hlstorical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Incoma All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statsment of Financial Activities on a receivable basis. The balan of income received for specific purposes but not expended during the period is shown in the relevant fvnds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the incorne is accrued. Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be me8sured reliably. On receipt, donated professional services and facilities are recognised on the basls of the value of the gift to the Charity whlch is the amount it would have been willing to pay to obtain services or faulities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of reipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 13
THE MIKE GOOLEY TRAILFINDERS CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcies (continued) 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economi benefrt 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 dassified 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 contrlbute to more than one activity and support costs which are not attributable to a single activity are apportioned between those actlvities on a basis consistent with the use of reSoUs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on ralslng funds Includes all expenditure incurred by the Charity to rdise funds for its charltable purposes and includes costs of all fundrdising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is indusive of irrecoverable VAI". 2.4 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity: this is normally upon notffication of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tanglble fixed assets and depreclation Tangible fixed assets costing £1.000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Assets under construction are accounted for at cost, based on direct costs incurred to 30 June 2024. These assets are not depreciated until the accounting period in which they are brought into use. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over thelr estimated usefvl lives. using the straight-line method. Depreciation is provided on the following bases: Freehold property 30 - 50 years straight line basis Fixtures and fittings 20/0-200/0 straight line basis 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 14
THE MIKE GOOLEY TrAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (continuad) 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liablllties and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlemen( and the amount of the settlement can be estlmated reliably. Liabilities are recognised at the amount that the Charity antlclpates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estlmate of the amounts required to settle the obllgation, Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.9 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qU81ify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement v,'alue with the exception of bank loans which are subsequently measured at amortlsed cost using the effective interest method. 2.10 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectNes of the Charity and which have not been designated for other purposes. Critical accounting estimate5 and areas of Judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that a believed to be reasonable under the circumstances. CritiGal judgements The trustees are of the view that there are no further critical judgements (apart from those involving estimates) in applying their accounting policies that have had a significant effect on amounts recognised in the financial statements. Key sources of estimation uncertalnty The trustees are of the view that there are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. Page 15
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from donations Unrestricted funds 2024 Total funds 2024 Donations Gift Aid 3,900,000 600.000 3,900,000 600,000 4,500,000 4,500,000 Unrestricted funds 2023 Total fvnds 2023 Donations 8, 000,000 8,000.000 Interest recelvable and other incoming resources Unrestrlcted funds 2024 Total funds 2024 Rental Income Interest Receivable 138,000 35,561 138.000 35,561 173,561 173.561 Unrestricted fvnds 2023 Total funds 2023 Rental Income Interest Receivable 138, 000 t2,415 138.000 12,415 150,415 150,415 Page 16
THE MIKE GOOLEY TRAILFINDERS CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Donatlons and Sponsorships Unrestricted funds 2024 Total funds 2024 Sponsorships Donations 2,334.845 1,108.514 2.334.845 1.108,514 3,443.359 3,443,359 Unrestricted fvnds 2023 Total fvnds 2023 Sponsorships Donations 3,403,448 1,329, 699 3,403,448 1,329,699 4,733, 147 4,733,147 Page 17
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Management and administration Unrestricted funds 2024 Total 2024 Repairs Rates Audit fees Legal and Professional Insurance Maintenance Computerisation Bank charges 37,919 23,134 9.000 12,155 11,677 804 286 16 37,919 23,134 9,000 12,155 11,677 286 16 94,991 94,991 Unrestricted fvnds 2023 Total 2023 Repairs Rates Audit fees Legal and professional Insurance Bank charges t4,389 23,092 19,775 10,100 8,066 Iq 14,389 23,092 19,775 10,100 8,066 75,433 75,433 Auditors. remuneration 2024 2023 Fees payable to the Charfty's auditor for the audit of the Charity's annual accounts 8,000 8,000 Page 18
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Trustees. remuneration and expen58S During the year, no Trustees reiVed any remuneration or other benefits (2023 - £NIL). During the year ended 30 June 2024, no Trustee expenses have been incurred (2023- £NIL). 10. Tangible fixed assets Assets Freehold Fixtures and under property flttings construction Totsl Cost or valuation At 1 July 2023 Additions 30,682,582 2,985,600 644,872 95,556 31,327.454 3.580,779 499,623 At 30 June 2024 33,668,182 740,428 499,623 34,908.233 Depreciatlon At 1 July 2023 Charge for the year 5,374,724 673,893 429,532 50,863 5,804,256 724756 At 30 June 2024 6,048.617 480,395 6,529,012 Net book value At 30 June 2024 27,619,565 260,033 499,623 28,379,221 At 30 June 2023 25,307,858 215,340 25.523, 198 11. Debtors 2024 2023 Due within one year Other debtors Prep8yments and accrued income 121,093 41,103 28,676 45,901 162,196 74,577 Page 19
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. Creditors: Amounts falling due within one year 2024 2023 Trade cdItorS Accruals 51,330 9,501 11,882 113,594 60,831 125,476 13. Statement of funds Statement of funds - current year Balanc• at 30 June 2024 Balance at 1 July 2023 Income Expenditurn Unrestrlcted funds General Funds - all funds 28,324,694 4,673,561 (4,263,106) 28,735,149 Statement of funds - prlor year Balance at 30 June 2023 Balance 8t l July 2022 Income Expenditure Unrestricted funds General Funds - all funds 25,663,684 8, 150,415 (5,489,405) 28,324,694 Page 20
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. Analysis of net assets between funds Analysis of net asset5 between funds - current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 28.379,221 28,379,221 416,759 416.759 (60,831) (60,831) Total 28,735,149 28,735,149 Analysis of nat assets between funds - prior perlod Unr9Stricted funds 2023 Total fvnds 2023 Tangible fixed assets Current assets Creditors due within one year 25, 523, 198 25,523, 198 2,926,972 2,926,972 (125,476) (125,476) 28,324,694 28,324,694 Total 15. R•conciliation of net movement in funds to net cash flow from operating activitias 2024 2023 Net income for the period (as per Ststement of Financial Activities) 410,455 2,661,010 Adjustrnents for: Depreciation charges Increase in debtors Increasel(decrease) in creditors 724,756 (87,619) (56,645) 680,825 (54.381) 104,053 Net cash provlded by operating actlvlties 990,947 3,391,507 Page 21
THE MIKE GOOLEY TRAILFINDERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 16. Analysis of cash and cash equlvalents 2024 2023 Cash in hand 254,563 2,852,395 Total cash and cash equivalents 254,563 2.852.395 17. Analysis of changes in net debt At 1 July 2023 Cash flows At 30 June 2024 Cash at bank and in hand 2,852,395 (2,597,832) 254,563 2,852,395 (2,597,832) 254,563 18. Related party transactions During the year, donations totalling £1,500,000 (2023: £8,000,000) were received from Trailfinders Limited, a company owned and controlled by Sir M D W Gooley, C.B.E. Payments totalling £10,200 (2023: £7,950) were paid to Tr8ilfinders Limited in the year. There were no amounts outstanding as at the year end (2023: £nil). During the year, donations totalllng £2,400,000 (2023: £nil) were recelved from Sir M D W Gooley, C.B.E. The land and buildings owned by the tharity are leased to Trailfinders Sports Club Limited. a company in which Sir M D W Gooley, C.B.E and Lady F K Gooley are unpaid directors with no vested interest. During the year, rental income of £138,000 (2023: £138.000) was eamed from Trailfinders Sports Club Limited in respect of this lease arrangement. There were no amounts outstanding as at the year end (2023: £nil). During the year. payments totalling £2,419,050 (2023: £3.397,448) were paid to Ealing Trailfinders Professional Rugby Management Limited, a company owned and controlled by Sir M D W Gooley, C.B.E. No amounts were outstanding as at the year end {2023: £nil). There are no other outstanding balan at the year end in respect of any transactions with related parties. Page 22