Company registration number: 04976797 Charity registration number: 1101868 RUGBY FOUNDATION The Bath Rugby Community Foundation (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2024 Milsled Langdon LLP Chartered Accountants and Statutory Auditor 4 Queen Street Bath BA1 1HE
The Bath Rugby Community Foundation Contents Reference and Administrative Details Trustees. Report 2105 Statement of Trustees, Responsibilities Independent Auditors, Report 7t09 Statement of Financial Activities 10 Balance Sheet Statement of Cash Flows 12 Notes to the Financial Statements 13to29
The Bath Rugby Community Foundation Reference and Adminlstrative Details Chlef Executlve Officer Lynne Fernquest Trustees Tarquin McDonald Christopher Potter Louise Harvey Emma Haines Christopher Alexander Claire Taylor David Scotland Andrew Fleming, resigned 18 June 2024 Halena Coury, Head of Fundraising Alex Randall. Community Manager Jonathan Wc¥)d, Alternative Learning Manager Senior Management i Leadership Team Charlty Registration Number 1101868 Company Reglstration Number 04976797 The charity is incorporated in England and Wales. Bath Rec Sports Hub North Parade Road Bath BA2 4ET Registered Office Audltor Milsted Langdon LLP Chartered Accountants and Statutory Auditor 4 Queen Street Bath BA1 1HE Bankers Barclays Bank 15 Queen Square Bristol BS1 4NP Page 1
The Bath Rugby Community Foundation Trustees, Report Introduction The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report for the year ending 30 June 2024. Purpose of the Charity Bath Rugby Community Foundation (BRCF) exists to empower vulnerable children and young people (CYP) in Bath and its surrounding areas to succeed. We believe every child deserves a fair start in life. The charity's objects are.. To advance and assist in advancing education. To provide or assist in providing recreational and leisure facilities in the interests of social welfare, wrth the aim of improving the conditions of life for those for whom the facilities are provided. To promote other charitable purposes as deemed charitable by English law. In accordance ¥Mth the Charities Act 2006, BRCF'S activities are carried out for public benefit. The charity uses the power of sport to engage CYPS facing social and other disadvantages. The charity aims to improve mental and physical health, build self-esteem and confidence, and foster life skills that positively impact educational achievements and employability. Overyiew of Activities Inclusion Our inclusion programmes provide young people from diverse and disadvantaged backgrounds the opportunities to engage in physical activty, education, and social opportunities. fostering confidence and life skills development. Hi51 Clubs.. These after-school clubs for children with special educational needs and disabilities (SEND) supported 1,494 young people this year, helping them build social connections and engage in physical activity, addressing the challenges of isolation and inactivity. Project Rugby & Mixed Ability Rugby= These initiatives focused on providing inclusive opportunities for young people from underrepresented communities, empowering them to participate in rugby and other sports. The programmes helped 715 families, and over 370 children transrtioned into local sports clubs. expanding access to physical activity. Breakout Hubs.. This year, the holiday programmes provided essential hot meals and a safe space for children experiencing food insecurity. These hubs also encouraged physical and creative activities, contributing to the overall mental and physical well-being of participants. Education and Employability Our education and employability programmes are designed to meet the needs of young people at risk of exclusion from mainstream education. Alternativè Learning Hub {ALH).' The ALH continues to provide a supportive and tailored approach to education for young people facing challenges in traditional schooling. This year, 95°/o of ALH students achieved their academic targets. demonstrating the effectiveness of this model in empowering students to succeed and prepare for future educational or employment opportunities. Schools Partnershlp Programme.. BRCF worked with 53 schools across the region. directly engaging thousands of students to improve their resilience, life skills, and physical fitness This programme is a key driver in addressing the educational attainment gap, especially in areas facing high levels of poverty and disadvantage. Page 2
The Bath Rugby Community Foundation Trustees, Report Financial Review The total income for the year was £824,304 {2023.' £731,458). Income from grants, corporate donations, and fundraising events formed the bulk of the revenue, with £395,490 {2023- £297,547) of grant income supporting the foundation's key programmes. The total expenditure for the year was £791,402 (2023.. £781,970), primarily directed towards delivering programmes and maintaining the Foundation's operations. The surplus on unrestricted funds for the year was £13,710 (2023.. deficit of £34,249). The surplus on restricted funds for the year was £19,192 (2023.. deficit of £59,059). Last years deficits reflect the way income and expenditure is accounted for by charities which is different from commercial companies who have a closer correlation between revenue and cost. For charities, the accounts are based on a flow of funds with income recognised when prescnbed criteria are met. Those criteria do not necessarily correspond to the subsequent spending of the funds which can lead to a surplus of *unds arising in one year followed by a deficit in the following year as funds received in the prior year are spent. Unlike a commercial company where as 'loss' is seen as a negative, for charities a defi¢it simply represents the positive spending of funds previously received on the good Vrk that the charity does. Reserves Policy: The Trustees aim to hold reserves equivalent to three months of operational cosls, which is approximately £200,000. The unreslricted reserves at the year-end were £145,013 (2023.. £131,303). Fundraising Actlvities The Foundation is entirely self-supporting. It generates its revenue through grants, donations and diverse fundraising activities. These efforts are crucial to the charity's programmes and therefore the charity seeks to avoid reliance on any single income stream. A notable percentage of the charity's revenue comes from donations, particularly from high-net-worth individuals and businesses that are committed to supporting the Foundation's mission. This support is cultivated through personal relationships, targeted appeals, and corporate engagement initiatives such as the 1 st XV Club Membership, where businesses and individuals contnbute £7,000 annually to support the Foundation'5 activities. These relationships are foundational to the charity's long-term suslainability. In addition to direct donations, event income plays a vital role in fundraising. The charity benefits significantly from high-profile fundraising events, including annual fundraising dinners and activities held on Bath Rugby malchdays. These events not only generate critical income but also raise the Foundation's profile within the community. helping to attract new donors and partners. The combination of these strategic fundraising initiatives has enabled the Foundation to maintain financial stability, even during challenging economic periods. Governance Bath Rugby Community Foundation's governance is overseen by its Board of Trustees, who are responsible for ensuring the charity operates in line with best practices set forth by the Charity Commission and other regulatory bodies. To uphold these standards, the Foundation uses a Centralised record system that monitors the review and updating of all policies and procedures. This system ensures that policies remain current and compliant with evolving Statutory requirements and charily governance guidelines. Page 3
The Bath Rugby Community Foundation Trustees. Report The central record not only facilitates regular policy reviews but also provides a clear framework for governance oversight. It covers critical areas such as safeguarding, health and safety, fundraising, and data protection. A nominated member of the Board of Trustees examines this record, allowing them to address risks proaclively and ensure thal the charity remains fully compliant across all operational areas. Risk Management The Trustees continuously evaluate and manage risks that may impact the charity, focusing on key areas such as safeguarding, income generation, and health and safety. Policies related to these risks are periodically updated to minimise potential threats and ensure that BRCF operates in a safe, effective, and sustainable manner. This process is integral to the Foundation's broader governance strategy and helps to Safeguard its ongoing success. Safeguarding Safeguarding remains a priority, with continuous monitoring and updating of safeguarding policies and procedures. The introduction of the online platform My Concern has improved the management of safeguarding concerns and disclosures. Future Plans The Bath Rugby Community Foundation is driven by an ambitious vision to deepen its impact and extend its reach across Bath and the surrounding region. In the coming year, we are committed to scaling up our employability programmes, providing more young people with the skills, confidence, and opportunities they need to thrive in education, work. and life. By empowering those who face the greatest challenges we aim to break down barriers and create lasting, transformative change_ We will be deepening our engagement with the community, extending our programmes to reach more vulnerable children and families who need our support. By growing partnerships with schools, local organisations, and businesses, we wll offer even more young people access to life-changing experiences and pathways to a brighter future. To fuel this gr0h, we are prioritising the expansion of our fundraising efforts, seeking new grants and strengthening our relationships with corporate partners. These collaborations are vital to ensunng the long-term sustainability of our programmes and enabling us to Continue our mission of creating lasting change in the lives of children and young people across the region. Disclosure of information to auditor Each Trustee has taken steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit informalion and to establish that the charity's auditor is aware of that information. The Trustee confirm that there is no relevant information that they know of and of which they know the auditor is unaware. Small companies provlslon statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Page 4
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The Bath Rugby Community Foundation ststement of Trustees. Responsibilities The Tiv51f {wts) are also dITleAS of The 8ath Rugby Cunmunty Ftsjrthtion for trK" Wre5 ol comwny la) arc fesponsth for prepafry the Trustccs, rerYt and ffiar£o1 slalements m ¢ryd3rte p[Ile United Krys AccounDry srs (Unfjed Kir4dtrn Generalty Accepled Accwntinq Pr), IrrIlY FRS 1ff2 FwKta6 ReFKx1iig Stwtsd aFpltlc UK a$ Rewblic of Ir¢larr ClpY jaw rcquwes the TfWt¢es to Prcpare flfwls1 st3tements fty cth soar. UnL ccxnpwy thé Tw5tces musi not aFsvove thc skJnents unle5¥" Ifw .?re sisfd ltrwt Ihey gr¥Y a ¥KJ faw Nie of Ihe Stsie of affairs of the chrtat ccrfnpany •id of Ihe rtrniirvj (ourCeS and ax)INXw of fes4xJrctrs, fftdLKJing ts income aThJ exDenditure, oi the ctwitable ccxnpany for that perrjj In wepariffj these finarKial staiL¥nents. th¢ TN51ees arc requif&J lo" . seknl surfats &¢<nI1 &KI appty Irn constsloity. eknseNe trt metlKxls wpIeS Chdrrts SORP.. slatc whetPw appltabbe aCcnI# stsrKlards. ccrnl$ing FRS 102 been fokpATd. s to any rnate dewtuiL% dth)sed 3nd explained finarrial 5IdtLYnLnts, and The Trustees Jre Tespffisiblc ts keepwg Fyryjcr accJn19 records Ihai ¢3n dscthe wth re curacy at any trne fin3ncial positK)n of cc¥np(Iny eIle io ensure that statents compty wth ts ccffipIes kt 2C% They are 0 rcsponsib5e trjr saloguardKy the assels ol Ihe aDl1b1e c(xnpany aTrJ Iwre reasonth sleps lor the iYe¥&ilMJ wd doteciKm of fra other fffegulwities Trusiees we lu tThe rr.Jinten¥u' ¢irxJ Inie9rity ot the wF¥)rate and fi'n3noal Infcmaiion induded on thc rjaritabie ccmpanls websrte LegisFatton govemif¥J the aThJ O¢semination ol finKial stienh may differ frcffi legtsL7ts In other jurisdictior AFVU TflAtees Df charty ., T(Ltee 16114
The Bath Rugby Community Foundation Independent Auditor's Report to the Members of The Bath Rugby Community Foundation Oplnion We have audiled the financial statements of The Bath Rugby Community Foundation (the 'charity'l for the year ended 30 June 2024, which comprise the Statement of Financial Activities, Balance Sheet Slatement of Cash Flows, and Notes lo the Financial Statements. including a summary of significant accounting policies. The financial reporting framework Ihat has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatements.. 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 have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and have been prepared in aOrdanCe with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charily in accordance with the ethical requirements that are relevanl to our audit af the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with Ihese requirements_ We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern 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 charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements were authorised for issue. Our responsibililies and the responsibilities of the Trustees wth respect to going concern are described in the relevant sections of this report. Other Information The Trustees are responsible for the other informalion. The other information comprises the infomiation included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwse explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 7
The Bath Rugby Community Foundation Independent Auditorfs Report to the Members ofThe Bath Rugby Community Foundation In connection with our audit of the financial statements, our responsibility is lo 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Oplnion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with Ihe financial statements., and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by ex¢ept5on In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified malerial misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where 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. the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption5 in preparing the Directors, Report and from the requirement to prepare a Strategic Report. Responsibilitles of Trustees As explained more fully in the Statement of Trustees, Responsibilities (set out on page 7), the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees detèrmine is necessary to enable the preparation of financial 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 charity's ability to continue as a going concern. 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 ¢ease operations, or have no realistic alternative but to do so. Page 8
The Bath Rugby Communlty Foundation Independent Audltor's Report to the Members of The Bath Rugby Community Foundatlon Auditor responsibilities for tho audll of tho financial statements Our objectives are to obtain reasonable assurance about wheth8r the financial statements as a whole are freé from material misslatem6nt, whether due to fraud or error, and to issue 8n auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can aris6 from fraud or error and are considered materlal if, individually or in Ihe aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stat8ments. The 6Xtent to which our procedures ar6 capabl8 of detecting irregularities. including fraud is detailed below: Obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company Is complwng the legal and ra9ulatory framework., Inquired of management, and those charged hwth governance, about their own identificatlon and assessment of the risks or legUlatieS. including known and actual, 6uspecled or alleged instanc8S of fraud; Discussed matters about non-compliance with laws and regulations and how fraud might occur including assessmènt of how and where the financial stalements may be susceptible to fraud. How8ver. it is the primary responsibility of management, wrth the oversight of Ihos8 charged with gov&mance. lo ensure that the enlivs operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. A further description of our responsibilities is available on the Financial Reporting Council's website at: wvM.frc,org.uklauditorsr9sponsibilities. This description forms part of our auditor's report. U80 of our report This r8POrt Is made solely to the charitable company's Trustees, as a body, in accordanc8 WTth Chapter 3 of Part 16 of thè Companies AGt 2006. Our audit work has en undertaken so that we might stale lo thé charity's Trustee8 those mattèrs we are required to state to them in an audilorfs report and for no other purpose. To the fullèsl extent permllled by law, we do not accept or assum responsibility lo anyone other than Ihe charitable company and its Trustees as a body, for our audit work. for this report, or for th6 opinions we have formed. lan Lloyd (Sonior Statutory Auditor) For and on behalf of Milsted Langdon LLP, Statutory Auditor 4 Queen Street Bath BAI 1HE Dat8". Page 9
The Bath Rugby Community Foundation Statement of Financial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Account) Unrestrlcted funds Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 314,241 210,295 112,848 1,725 314,241 395,490 112,848 1,725 359,398 297,547 73,826 687 185,195 Total income 639,109 185,195 824,304 731,458 Expendlture on: Raising funds Charitable activities (229.164) (396,235> (229,1641 (562,238) (183,403) {841 ,363) 1166,003) Total expendilure (625.399) {166,003 (791.4021 {824,766 Net incomellexpenditure) Net movement in funds 13,710 19,192 32,902 193,308) 13,710 19,192 32,902 (93,308) Reconciliatlon of funds Total funds brought forward Total funds carried forward 131,303 119,262 250,565 343,873 18 145,013 138,454 283,467 250,565 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown lor 2023 is shown in note 18. The notes on pages 13 to 29 form an integral part of these financial Statements. Page 10
The Bath Rugby Communty Foundation {Registration number: 04976797) Balance Sheot as at 30 June 2024 2024 Tar¢ible assets Cun•nt assets Dets Cash at arKI m hwd 13 14.801 4.461 14 15 103.209 228.249 123.950 2Cg.S32 331.458 333.482 Cr•ditor3: Amounts faaing du• w•thin one y Nat eurr•nt ass•ts 16 87.378 ?.68.686 246.104 ?.83,467 250,565 Funds of th• charity: Resiricled fur 138.454 119.262 UnrTStrKt•d in¢om• funds UrYestrKted I 145.013 131.303 Tot•1 Iynds 18 283.467 29),TS The fin¥1 statements paqes 10 to 29 we by Ihe Tfustees. ar#J 1re£l for issue . * . arm8 svJrKd on Ihu'r bchaff by.. Tiustec IL £F Paw11
The Bath Rugby Community Foundation Statement of Cash Flows for the Year Ended 30 June 2024 2024 2023 Note Cash flows from operating activlties Net cash incomel(expenditure) Adjustments to cash flows from non4ash Items Depreciation Investment income 32,902 (93,308) 13 5.154 (1,7251 36,331 5,913 (687) {88,082) Working capital adjustment5 Decreasellincrease) in debtors (Decrease)lincrease in creditors Net cash flows from operating activities Cash flows from Investing attivitl8S Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investing activities Net increasel(decrease) in cash and cash equivalents Cash and cash equivalents at 1 July Cash and cash equivalents at 30 June 14 16 20,741 24,585 (12,4441 42,950 32,487 57,576 1.725 15,495) 687 2,535 13 13,770) (1,848 18,717 (59,424) 268,956 209,532 228,249 209,532 All of the cash flows are derived from continuing operations during the above periods The notes on pages 13 to 29 form an integral part of these financial statements. Page 12
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 1 Charlty status The Charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of ils registered office is.. Bath Rec Sports Hub North Parade Road Bath BA2 4ET These financial statements were authorised for issue by the Trustees on 2 Accounting polici8S Summary of significant accountwng policies and key accountlng estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial stalements have been prepared in accordance with 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 IFRS 102) {effeGlive 1 January 20191 (Charities SORP {FRS 102}), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. Basis of preparatlon The Bath Rugby Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern . The Trustees consider that there are no material uncertainties aboLrt the charity's ability to Continue as a going concern nor any significant areas of uncertainty that affect the Carrying value of assets held by the charity. The Trustees have reviewed the supply chains, key donors and the capital resources available and consider that the charity ha5 adequate resources in place to continue trading for the next tmelve months. Income and endowments 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 the income receivable can be measured reliably. Page13
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 Donations and legacies Donations are recognised when the Charity has been notified in writing of both Ihe amount and settlement date. In the event that a donation is subject to conditions thal require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Investment income Dividends are reGognised once the dividend has been declared and notification has been received of the dividend due. Volunteer tlme No amount is included in the financial statements for volunteer time in line with the Charity SORP (FRS 102). Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. with central staff Costs allocaled on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Irrecoverable VAT is included as a separate expense in the Statement of Financial A¢tivities. Raising funds These are costs incurred in attrading voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and Ihose costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategi¢ management and Trustees meetings and reimbursed expenses. Page 14
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 Taxation The charity is considered to pass the lests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. Tangible fixed assets Individual fixed assets costing £500 or more are initially recorded at cost, less any subseqLFent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortlsation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class Furniture and equipment Motor vehicles Depreclation method and rate 10 /0 Straight line 25 /0 Straight line Trade debtors Trade debtors are amounts due from customers for merchandise sold or seNices performed in the ordinary Course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. les5 provision for impairmenl. A provision for Ihe impairment of trade debtors is established whèn there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highty liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 15
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 Trade credltors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classrfied as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, lo defer settlement of the creditor for at least 1ve months after the reporting date. If there is an uncondttional right to defer settlement for at least e1ve months after the reporting date, they are presented as non-current Trade creditors are recognised initially al the transaction price and subsequently measured at amortised cost using the effeGtive interest method. Fund structure Unrestricted income funds are general funds that are available for use at the Trustees discretion in fijrtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the Trustees. Restricled income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 3 Income from donations and legacles Unrestricted funds Total 2024 Total 2023 Donations and legacies., General donations First XV Annual dinner Gift aid Foundation day 156,848 68,700 59,425 18,518 10,750 156,848 68,700 59,425 18,518 10,750 188,575 80,500 64,987 14.238 11,098 314,241 314.241 359,398 £314,241 (2023 - £359,398) of the income above was attribulable to unrestricted funds and £Nil (2023 £Nil) attribulable to restricted funds. Page 16
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 4 Income from charitable actlvltles Unrestrlcted funds Restricted funds Total 2024 Total 2023 Education Inclusion Employability Health 197.425 12,870 197,425 141.241 143,168 68,325 7,064 78,990 128,371 56,824 56,824 210,295 185,195 395.490 297,547 £210,295 (2023 - £206,722) of the income above was attributable to unrestricted funds and £185,195 {2023 - £90,825) attributable to restricted funds. S Income from other trading activlties Unrestricted funds Total 2024 Total 2023 Shirt Raffle income Other Fundraising Bath Half Marathon 51,117 38,404 23,327 112,848 51,117 38,404 23,327 27,783 18,515 27,528 73,826 112,848 £112,848 (2023 - £73,826) of the income above was attributable to unrestricted funds and £Nil {2023 - £Nil) attributable to restricted funds. Page 17
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 6 Investment income Unrestrlcted funds Total 2024 Total 2023 Interest receivable on bank deposits 1,725 1,725 687 £1.725 {2023 - £6871 of the income above was attributable to unrestficted funds and £Nil (2023 - £Nil) attributable to reslncted funds. 7 Expenditure on raising funds Unrestricted funds Total 2024 Total 2023 online Giving Fees Bath Half Marathon Shirt Raffle Annual Dinner Community General donations Season Ticket Renewal Trusts and Funds Matchday Support Costs First XV Grant Support Costs Sponsor a student Foundation day 4,980 19,962 19,649 29,870 32,471 696 1,622 75,074 793 23,722 4,980 19,962 19,649 29,870 32.471 896 1,622 75,074 793 23,722 3,505 16,823 6.296 30,489 4,929 34,984 9,468 18,468 35,505 18,719 4,217 18,198 2,127 18,198 2,127 229,164 229,164 183,403 £229,164 (2023 - £183,403) of the expenditure above was attributable to unrestricted funds and £Nil (2023 - £Nil) attributable to restricted funds. Page 18
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 8 Expendlture on charitable actlvities Unrestricted funds Restricted funds Total 2024 Education Inclusion Employability Health 282,667 83,655 721 29,192 282,667 194,485 2,050 83,036 110,830 1,329 53,844 396.235 166,003 562,238 Unrestrlcted fund5 Restricted funds Total 2023 Education Inclusion Employability Health 251,034 103,154 15,099 122,192 491,479 12,705 108,213 8,366 20,600 263,739 211,367 23,465 142.792 149,884 641,363 Activity undertaken directly Activity support costs 2024 Education Inclusion Employability Health 183,292 126,112 1,329 53,844 99,375 68,373 721 29.192 282,667 194,485 2,050 83,036 364,577 197,661 562,238 Activity undertaken directly Activity support costs 2023 Education Inclusion Employability Health 145,306 116,451 12,928 78,671 118,433 94,915 10,537 64.122 283,739 211,366 23,465 142,793 353,356 288,007 641,363 Page 19
The Bath Rugby Communlty Foundation Notes to the Financlal Statements for the Year Ended 30 June 2024 Support costs Unrestrlcted funds Total 2024 Total 2023 Premises Office costs Motor expenses Travel and subsistence Marketing and Communications Depreciation of office equipment Wages and salaries Legal and professional fees Governance costs 22,419 8,998 6,729 22,419 8,998 6,729 34,473 10,705 6,659 144 50,424 5.914 148,483 13,611 17,594 6,993 5,154 118,341 17,918 11,109 6,993 5,154 118.341 17,918 11.109 197,661 197,661 288,007 9 Net Incomingloutgoing resources Net incomingl{outgoing) resources for the year include.. 2024 2023 Operating leases - other assets Audit fees Other non-audit services Depreciation of fixed assets 8,112 7,682 3,427 5,154 8,792 7,300 3,344 5,913 10 Trustees remuneration and expenses No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No Trustees have received any reimbursed expenses from the charity during the year. Page 20
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 11 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 434,209 34,992 4,393 389,101 25,258 8.082 473.594 422,441 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2024 No 2023 Management Fundraising Programmes 12 14 14 The number of employees whose emoluments fell within the following bands was.. 2024 No 2023 No £70,001- £80,000 £80,001 - £90.000 The total employee benefits of the key management personnel of the charty were £265.309 (2023 - £170,153). 12 Taxation The charity is a registered charty and is therefore exempt from taxation. Page 21
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 13 Tangible fixed assets Furniture and equipment Total Cost At 1 July 2023 Additions 61,585 15,495 61,585 15,495 At 30 June 2024 77,080 77.080 DepGIatiOn At 1 July 2023 Charge for the year At 30 June 2024 57,125 5,154 57,125 5,154 62,279 62,279 Net book value At 30 June 2024 14,801 14,801 AI 30 June 2023 4,460 4,460 14 Debtors 2024 2023 Trade debtors Prepayments Accrued income 77,440 14.724 11,045 103,209 71,208 14,950 37,792 123,950 15 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 148 228,101 126 209,406 228.249 209,532 Page 22
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 16 Credltors: amounts falling due wilhln one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals 19,700 8,675 25,973 8,444 31,728 9,544 36,160 9,946 62,792 87,378 2023 Resources deferred in the period 34,442 17 Obligations under leases and hire purchase contracts Operatlng lease commltments Total future minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Land and buildlngs WÈthin one year Between one and five years 6,425 8,823 8,576 13,098 21,674 15,248 Other Within one year Beeell one and five years 1,264 2,528 1,517 4,550 3,792 6,067 Page 23
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 18 Funds Balance at 1 July 2023 Balance at 30 June 2024 Incomtng Resources resources expended Transfers Unrestricted funds General General Funds 54,947 639,109 (620,245) (15,494) 58,317 Designated Core Cost Fund Tangible Fixed Asset Fund 71,895 71,895 4,461 5.154 15,494 14,801 76,356 5,154) 15,494 86,696 Total unrestricted funds 131,303 639,109 625,399 145,013 Restrlcted funds Development Fund Volunteer Programme High Five Club Project Rugby Phase 3 HAF - Breakout Move wyth Bath 95,441 5,841 5,875 4,330 95.441 4,512 24,292 3,455 {1,329) {17,963) {92,866) (34,324) 19,521 36,380 91.991 34,324 22.500 7,775 10,754 Total restrlcted funds 119.262 185,195 (166,003 138,454 Total funds 250,565 824,304 (791,402 283,467 Page 24
The Bath Rugby Community Foundation Notes to the Financial Ststements for the Year Ended 30 June 2024 Balance at 30 Jun• 2023 Balance at 1 July 2022 Incoming Resources resources expended Transfers Unrestricted funds General General Funds 85,818 640,633 (668,969) {2,535) 54,947 Designated Core Cost Fund Tangible Fixed Asset Fund 71,895 71,895 7,839 5,913) 5,913) 2,535 4,461 79,734 2,535 76,356 Total unrestricted funds 165,552 640,633 674,882) 131,303 Restricted Development Fund Raising the Game, Secondary Volunteer Programme Heart of a Lion High Five Club Project Rugby Phase 3 Mindset Matters Move with Bath Farleigh Performance Total restrlcted funds 95,441 95,441 6,726 9.382 4,641 31,442 14,010 5,979 5,875 4,825 (6,726) (3,541) (4,841) (29,165) (74,407) (5,979) (20,600) (4,825 5,841 3.598 64,727 5,875 4,330 22,500 7,775 178,321 90,825 {149,884 119,262 Total funds 343,873 731,458 824,766 250,565 Page 25
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 The specific purposes for which the designated funds are to be utilised are as follows.. Core Cost Fund The Core Cost Fund is to be used to further improve the efficiency and impact of the Charity. Tangible Fixed Asset Fund The Tangible Fixed Asset Fund represents the value of tangible fixed assets held in the Balance Sheet and are included within a separate designated fund to indicate that these funds are not available to be spent within general funds or free reserves without the sale of the assets. The specific purposes for which the restricted funds are to be utilised are as follows.. Development Fund This can be used at the discretion of the Trustees for income generating activities. Ralsing the Game Secondary Raising the Game Secondary is secondary school-based mentoring programme for children who are disengaged with school andlor at risk of exclusion. This is an intensive programme and the participants are supported in small groups. Volunteer Programme This trains volunteers in support of the foundation. There has been no movement in this fund because March - June training did not take place. Heart of a Lion This is a program me funded by Heart Research UK working with students in Y5 from primary schools in Bath and the surrounding areas. The aim of the programme is to educate the children about the risk factors of heart disease and how to ensure they have a healthy heart. This programme has now been fully delivered with the remaining income being invoiced following the submission of a final report to Heart Research UK. Schools Partnership A school-based mentonng programme for primary and secondary school children who are disengaged with mainstream education andlor at risk of exclusion. Project Rugby A joint initiative between Premiership Rugby and the clubs, Gallagher and England Rugby and aims to increase participation in the game by people from traditionally underrepresented groups.. Black, Asian & Minority Ethnic People, People from Lower Socio-Economic backgrounds (top 30 % IMD), Disabled People. Advantage This is a partnership with the West of England Combined Authority and is for 19 to 24-year-olds who are already, or are in danger of becoming, NEET (Not in Education. Employment or Training). The course was created to not only encourage young people to enrol on college courses or gain the confidence to find job roles. but also to create a peer support group within them in which they could encourage and support each other on their journey. Alternative Learnlng Hub The Foundation has teamed up with Bath College lo deliver an education programme for teenagers disengaged with traditional education. Students learn differently. Cooking with professional chefs. trading with professional accountants and training with Olympic medal winning athletes can all be expected in a day Our lessons and assessments are different. A podcast might be seen as equal to a written assessment. Page 26
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 Breakout The Holiday Activities Fund funded programme is a multi-agency holiday food and activity programme based in community hubs in high need areas. supporting key vulnerable familiès, across Bath and North East Somerset. Each hub supports with playlcraftslsports and hol nutritious food, alongside cooking and wellbeing workshops and food parcels. Hub also provides much-needed parental down time and educational support. Move With Bath A 12-week programme providing localised and accessible indoor and outdoor space for children to engage in nutritional activities and physical activity. With positive Primary and Secondary School relationships in all schools in Trowbridge, the Foundation works with school nurses and pastoral leads to identify participants who require support. Working closely with Active Trowbridge, the Foundation can signpost to complementary activities. Hi5 Club This is an after-school club to encourage children and young people wth Special Educational Needs and Disabilitses to take part in social events and physical activity. Farleigh Performance Farleigh Performance is not a delivery programme, it's an executive leadership company we sometimes work in partnership with and they pay us. Page 27
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 19 Analysis of net assets between funds Unrestrlcted funds General Total funds at 30 June 2024 Restricted funds Tangible fixed assets Cuffent assets Current liabilities 14,801 193.004 62,792 14,801 331,458 {62,792 138.454 Total net assets 145,013 138,454 283,467 Total funds at 30 June 2023 Unrestricted funds General Deslgnated Restrlcted funds Tangible fixed assets Current assets Currenl liabilities 4,461 71.895 4,461 333,482 (87,378) 250.565 142,325 (87.378} 54,947 119,262 Total net assets 76,356 119,262 20 Analysls of nat funds At 1 July 2023 Financing cash flows At 30 June 2024 Cash at bank and in hand 209,532 18,717 228,249 Net debt 209,532 18,717 228,249 Page 28
The Bath Rugby Community Foundation Notes to the Financial Statements for the Year Ended 30 June 2024 At 1 July 2022 Financing cash flows At 30 June 2023 Cash at bank and in hand 268,956 {59,424 209.532 Net debt 268.956 {59,424) 209,532 21 Related party transactions During the year the charity made the following related party transactions.. Bath Rugby Limited During the period Mr T McDonald, a Trustee, was Chief Executive Officer of Bath Rugby Limited. During the period costs charged to the charity by Bath Rugby Limited were £21,459 {2023 - £54,393). Certain Costs were brought in-house in the year. During the period income received by the charity from Bath Rugby Limited amounled to £45,000 (2023 - £25,500). At the balance sheet date the amount due from Bath Rugby Limited was £Nil {2023 - £16.385). Page 29