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|Annual
report forthe year ende|d 31Dece|mber 202|2||
|---|---|---|---|---|
|Contents|||||
|||||Pagels)|
|Directors, Trustees, officers and advisors ..|||||
|Directors and Trustees' report for the year ended 31December 2022..||||26|
|Independent
auditors'
report to the members|of Godolphin|International|Thoroughbred|Leadership|
|Programme
Limited. .|||||
|Statement ofBnancial activities for the year ended 31December 2022..|||||
|Balance sheet as at31December 2022.|||||
|Cash flow statement
for the year ended 31December 2022||.|||
|Notes tothe financial statements
forthe year|ended 31December 2022.........................,....,...,....,.,„„,||||
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|||||Note|2022|2021|
|---|---|---|---|---|---|---|
||||||E|E|
|Incoming|resources:||||||
|Incoming|resources from generated||funds||||
|Donations|and|gifts in kind|||1,099,965|946,682|
|Total incomin||resources|||1099965|946,682|
|Resources|expended:||||||
|Charitable||activities|||(1,082,004)|(935,968)|
|Governance||costs|||||
||||||(17,961)|(10,714)|
|Total resources expended|||||(1,099,965)|(946,682)|
|Net result|for|the year|||||
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|||||Note|2022|2021|
|---|---|---|---|---|---|---|
||||||6|6|
|Fixed assets|||||||
|Tan
ible assets||||||231|
|Totalfixed assets|||||45|231|
|Current assets|||||||
|Prepayments|and accrued||income|9|659,684|341,960|
|Cash at bank|and in|hand|||781|1,167|
|Total current|assets||||660,465|343,127|
|Creditors: amounts||fallin|due within one year|10|(660,510)|343,358|
|Net current|liabilities||||(45)|231|
|Total assets|less current liabilities||||||
|Net assets|||||||
|The funds of|the charity:||||||
|Unrestricted|income|funds|||||
|Total charity|funds||||||
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||||2022|2021|
|---|---|---|---|---|
|||Note|6|6|
|Net cash oufflow from operating|activities|13|386|16,012)|
|Decrease in cash in the year||14|(386)|(16,012)|
||||2022|2021|
||||6|6|
|Cash balance as at 1January|||1,167|17,179|
|Decrease in cash in the year|||386|16012|
|Cash balance asat31December|||781|1,167|
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|3
Do|natio|ns and gifts in kind|||
|---|---|---|---|---|
||||2022|2021|
||||E|E|
|Donations|and|gifts in kind:|||
|Non-charitable||organisations|1,015,965|862,682|
|Gifts in kind|||84,000|84,000|
||||1,099,965|946682|
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||Support|Other||||Support|Other|||
|---|---|---|---|---|---|---|---|---|---|
||costs|costs|Depreciation||2022|costs|costs|Depreciation|2021|
||E|E||E|E|E|E|E|E|
|Charitable
activities|997,818|84,000|186||1,082,004|851,762|84,000|206|935,968|
|Governance||||||||||
|costs||17,961|||17,961||10,714||10,714|
||997,818|101,961|186||1,099,965|851,762|94,714|206|946,682|
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|||2022|2021|
|---|---|---|---|
|||E|E|
|Net incoming resources|is stated after charging/(crediting):|||
|Depreciation oftangible|assets|186|206|
|Loss / (profit) on exchange||16,297|(589)|
|Auditors'
remuneration|for:|||
|Fees payable for the audit||8,988|6,240|
|Tax compliance
services||4,000|3,120|
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||||Computer|equipment|
|---|---|---|---|---|
||||2022|2021|
|Cost|||||
|At 1January|||3,294|26,583|
|Dis osals||||23,289)|
|At 31December|||3,294|3,294|
|Accumulated|depreciation||||
|At 1January|||(3,063)|(26,146)|
|Charge in the|year||(186)|(206)|
|Disposals||||23,289|
|At 31December|||3,249|(3,063)|
|Net book amount|||||
|At 31December||||231|
|9
Prepayments||and accrued income|||
||||2022|2021|
||||E|E|
|Amounts
falling due||within one year|||
|Prepayments|||24,408|75,699|
|Accrued donations|||635,276|266,261|
|Prepayments|and accrued income||659,684|341,960|
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|10
Creditors: amounts|10
Creditors: amounts|falling due|falling due|within one year|within one year||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
||||||||||f|E|
|Related party creditors||||||||625,629||310,029|
|Accruals and deferred|income||||||||34,881|33,329|
|||||||||660,510||343,358|
|Charity funds|||||||||||
||||Incoming||Resources||Incoming||Resources||
||||resources||expended|2022|resources||expended|2021|
|||||E|f|E|E||E|E|
|Unrestricted
income funds|||||||||||
|General reserve|||1,099,965||(1,099,965)||946,682|(946,682)|||
|Total charity funds|||1,099,965||(1,099,965)||946,682|(946,682)|||
|12
Analysis ofthe|net|assets between|||funds||||||
|All assets relate to unrestricted|||funds.||||||||
|13
Reconciliation|ofnet incoming|||resources to net cash outflow|||from operating||activities||
|13
Reconciliation ofnet incoming resources to net cash o|utflow from operating
activities||
|---|---|---|
||2022|2021|
||E|E|
|Continuing
activities|||
|Net result for the year|||
|Depreciation
oftangible assets|186|206|
|Increase
in debtors|(317,724)|(157,065)|
|Increase
in creditors|317,152|140,847|
|Net cash
outflow
from o crating activities|386)|(16,012)|
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|||2022|2021|
|---|---|---|---|
|||E|E|
|Cash at bank and in hand|at 1January|1,167|17,179|
|Decrease in cash in the|ear|386|16012)|
|Net funds at 31December||781|1,167|
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|||2022|2021|
|---|---|---|---|
|||E|E|
|Balance as at 31December||||
|Creditor||(253,143)|(124,096)|
|Summary oftransactions|for the year ended 31December|||
|Purchases||281,696|329,452|
|Donations
/ Gifts in kind||1,022,015|862,682|
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|Godolphin|LLC|||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||E|E|
|Balance as at31December||||||||
|Creditor||||||(163,831)|(43,134)|
|Summary|oftransactions||forthe year ended 31December|||||
|Purchases||||||189,897|97 105|
|Godolphin|Ireland|Limited||||||
|||||||2022|2021|
|||||||E|E|
|Balance as at 31December||||||||
|Creditor||||||47,217)|(21332)|
|Summary|oftransactions||for the year ended|||||
|Purchases||||||55,937|36,169|
|Gifts in kind||||||84000|84 000|
|Godolphin|Australia|Pty Limited (previously||Derley Australia|Pty Limited)|||
|||||||2022|2021|
|||||||E|E|
|Balance as at 31December||||||||
|Creditor||||||(161,438)|121,467)|
|Summary|oftransactions||for the year ended|31December||||
|Purchases||||||171,682|224,659|
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