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2022-10-31-accounts

Company No: 03364718 (England and Wales) Registered Charity Number 1112580

LEEDS RUGBY FOUNDATION (A Charitable Company Limited by Guarantee)

Annual Report For the Year Ended 31 October 2022 Amended Accounts

LEEDS RUGBY FOUNDATION

CONTENTS

Page
Legal and Administrative Information 1
Trustees’ Report (Including Directors’ Report) 2
Chair’s Statement 8
Chief Executive Officer’s Report 9
Independent Auditor’s Report 12
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16
Charity Balance Sheet 17
Consolidated Statement of Cash Flows 18
Notes to the Financial Statements 19

LEEDS RUGBY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P H Caplan Chair
P G Hirst FCA
G Hetherington
J D P Jones-Buchanan MBE
M Pexton Deputy Chair
N H Clephan OBE
C Kaiper-Holmes
N A Wilson
P K Mackreth Resigned 29 June 2022
J D Pryor
J A Dowson Resigned 25 October 2022
P A Hill
K Brown
M Birkinshaw
Company Secretary P G Hirst FCA
Executive Team Bob Bowman QPM Chief Executive Officer
Naz Hamid FCCA Head of Finance & Resources
Dan Busfield Head of Partnerships & Developments
Gareth Cook Head of Communities & Engagement
Registered and principal office Headingley Stadium
St Michaels Lane
Leeds
LS6 3BR
Company registration number 03364718 (England and Wales)
Charity registration number 1112580
Auditor MHA Moore & Smalley
Richard House
Winckley Square
Preston
PR1 3HP
Bankers Barclays Bank Plc
Leeds 2
Leicester
LE87 2BB

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDING 31 OCTOBER 2022

The trustees (who are also directors of the charity for the purposes of company law) present their report and the audited financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity, which are also prepared to meet the requirements for a director’s report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Companies Act 2006, and Accounting and Reporting by Charities: - Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, effective 1 January 2019.

Structure, governance and management

Constitution

Leeds Rugby Foundation is constituted under the Memorandum and Articles of Association dated 2 May 1997 and is a registered charity, number 1112580. The company was granted charitable status on 21 December 2005 by the Charities Commission. On 6 October 2014, the charity changed its working name to Leeds Rhinos Foundation.

Leeds Rhinos Foundation the ‘Group’, comprises Leeds Rugby Foundation (the charity) and Leeds Rugby Foundation Services Ltd. (its trading subsidiary) and is overseen by the Board of Trustees (who are also referred to as the Directors).

The Board of Trustees meet six times per year to oversee the activities of the Foundation. In addition to reviewing financial and operational performance, the trustees consider strategy, planning, training, risk management and governance. To support the Board, two sub-committees focussing on Finance & Governance and Heritage have been established. The Board ensures that the sub-committees operate in accordance with approved terms of reference and provide regular reports on their activities.

The responsibility and reporting structure of the Foundation is set out by way of the company’s organisation chart which clearly demonstrates the structure. The Chief Executive Officer is responsible for the day to day operations of the organisation and is supported by the Heads of Departments who report directly to this position. The Senior Leadership Team through enquiries and contacts, together with their historical strength and reputation of the organisation, identify opportunities for consideration. The viability of each one is closely examined together with an assessment of the risk. Those opportunities which are subsequently undertaken are monitored and reported to the trustees on a regular basis and any weaknesses and threats highlighted are addressed.

The setting of pay and remuneration of all employees of Leeds Rhinos Foundation, including key senior management personnel, is in accordance with the Financial Management Policy, with all roles subject to job evaluation at creation or when job changes in responsibilities are required of the post holder.

Principal activity and objectives

The on-going principal aim and objective of Leeds Rugby Foundation during the period is that of the advancement and enhancement of the quality of life of the public generally, and in particular those living and/or working within Leeds and Yorkshire and any other surrounding areas through the promotion of education, development, teaching and training in sporting and academic skills.

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in the planning of future activities.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDING 31 OCTOBER 2022

Our objectives: -

Our aims: -

Details of our significant activities are provided in the Chief Executive Officer’s report.

Fundraising

As a charity we rely on donations from individuals and organisations. Fundraising income allows us to offer a range of activities in line with our charitable objectives. Fundraising activities are governed by the standards expected from a charitable organisation as set out in the Code of Fundraising Practice. Relative to all fundraising, we as trustees ensure that Leeds Rugby Foundation adheres to the following key principles and procedures: -

Related parties

In order to meet the objectives of the charity, a close working relationship has been developed with Leeds Cricket, Football and Athletic Company Limited (“LCF&A”). LCF&A provide administrative support and the use of premises for the charity to meet its objectives; this is charged as a management fee by way of invoice.

No trustees received any remuneration or other benefit from their work with the charity; a full list of related parties and transactions are mentioned at note 25.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDING 31 OCTOBER 2022

Trustees

The trustees who have served during the year and since the year-end are as listed on page 1. They come from diverse backgrounds and bring a variety of different skills and experience, in line with the trustee development framework. These diverse perspectives encourage debate, improve decision making and governance and bring professional advice and guidance when necessary to both the Board and staff.

This year the Board of Trustees continued to focus on governance and trustee development. They have formally adopted the Charity Code of Governance for larger charities in which the Foundation is substantially compliant. An annual cycle has been established which ensures that due attention is given by the Board to governance, trustee development and succession, strategy, planning and risk. The effectiveness of the Board is evaluated through an internal review on an annual basis.

The Board can access professional advice where necessary and governance issues are reviewed, discussed and implemented where required. As a result of the above approach the trustees are of the opinion that they are effective as a governing body.

None of the trustees have any beneficial interest in the company. All of the members of the company guarantee to contribute £10 in the event of a winding up.

New trustees

Members of the Board of Trustees are appointed with the aim that each appointee brings individual skills, divergent thinking, diversity and knowledge to the Foundation, so all areas of responsibility and governance are covered.

The recruitment procedure has been updated and trustee opportunities are advertised through social media, the website and word of mouth, so that suitable candidates can apply by submitting a letter of application to the Chair setting out their qualities and the contribution they can make. There is a selection and interview process against the criteria set out in the advert, with a recommendation to the Board being made by the Chair and appointment being confirmed by ordinary resolution to be proposed at the next trustees meeting.

New trustees are inducted by being provided copies of the Memorandum & Articles of Association, statutory accounts, the latest management accounts, annual report, along with other key documents about what is expected from them as a trustee, in line with the expectation of the Charity Code and the Essential Trustee guide. Additionally, there are other induction opportunities, such as a tour of the stadium and visits/shadowing of various Foundation activities and access to other trustees and the Chief Executive Officer for any questions or background.

Existing trustees

At the AGM, in accordance with the Articles of Association, three trustees retire by rotation and vacate office at the conclusion of the AGM, unless reappointed. An ordinary resolution is then proposed to reappoint individual trustees where applicable.

Financial review

The year end result for the Group was a surplus of £89,884. The original budget was set as a £36,407 deficit.

The first full year of delivery post-Covid restrictions resulted in a very positive financial outcome for the year increasing total reserves by 23%. Turnover increased from the previous year by 21%. A large contributing factor was the generous support of donors increasing charitable donations this year; this enabled us to expand and diversify the services we were able to deliver. In addition, more funding was raised from fundraising activities than in previous years.

Expenditure increased by 18% more than the previous year, although this was lower than projected for this year. We continued to make savings whilst taking opportunities to develop different ways of delivering activities within the community.

We continue to regularly review efficiencies across the organisation.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDING 31 OCTOBER 2022

Risk management

Trustees and Executive Management recognise that sound risk management is vital to good governance practice. Risk management should form an integral part of the decision-making process and is conducted on all new activities and projects ensuring they are in line with policy and objectives. Any material risks arising are identified, analysed and reported.

Risk management is undertaken on a continual basis with areas of concern highlighted by management for consideration by the Board. A formal review of the risk management framework was introduced in December 2022, after the year end, and will be undertaken annually henceforth.

Factors likely to affect future financial performance and position would be:

Reserves policy

The Group’s unrestricted funds as of 31 October 2022 are £449,128 (2021: £369,637). Total reserves on 31 October 2022 are £489,247 (2021: £399,363). Of these £40,119 (2021: £29,726) relate to restricted income received for a specific purpose but not fully spent at the year-end. In addition, £81,324 (2021: £110,327) relate to fixed assets held for the furtherance of the charity’s objectives which are being depreciated over their useful economic lives.

The trustees have reviewed the reserves of the charity, considering the current economic climate and inflationary challenges, and have established a policy whereby the level of free reserves provides security against future risks to the organisation; this is always balanced against the need to maximise opportunities to continue the furtherance of the charity’s objectives.

Leeds Rhinos Foundation’s reserves policy is to assist in strategic planning and address any uncertainty in future income streams and help meet future unforeseen operational costs and eventualities. It has established a policy where unrestricted funds, not committed or invested in tangible fixed assets held by the charity, should be 6 months of budgeted expenditure. Budgeted expenditure for the financial year 2022-23 is £1,287,460 and therefore the target set is £644k in unrestricted free reserves.

The charity is holding free reserves of £367,804 (2021: £259,310). This level of free unrestricted reserves is noticeably short of the target level; therefore the charity continues to implement cost saving measures and the strategy is to build reserves by generating annual surpluses in an effort to bring free reserves in line with the required level.

Monitoring and managing of cash flow is continually undertaken in relation to all income and expenditure within the entire Leeds Rhinos Foundation activities.

The reserves are held in accordance with the investment policy of the charity and in order that the funds are readily available, the liquid assets consist solely of cash and short-term debtors.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDING 31 OCTOBER 2022

Plans for future periods

The fundamental objectives of the Foundation are set out on page 3 of the Trustees’ Report.

The Foundation seeks to increase the activities generally in line with the objectives and a SWOT analysis will be periodically reviewed with achievable parameters recognised, considered and undertaken where suitable opportunities arise.

Future capital commitments

There are no future planned capital commitments at this stage.

Key performance indicators

Year ended 31 October 2022 Year ended 31 October 2021
Turnover: -
Unrestricted 857,986 582,624
Restricted 533,630 564,903
Staff Numbers - direct 38 34
Current Ratio 3.17 1.78
Reserves: -
Unrestricted 449,128 369,637
Restricted 40,119 29,726

Events since the year end and going concern considerations

COVID-19 Risk Assessment

The worldwide threat of Covid-19 is receding, but is not over. This has, in the opinion of the trustees, enabled them to view the future risks posed to the charity relative to this situation, as under control.

If however there is a serious recurrence then measures similar to those taken previously will be reinstated.

Conclusion

In their opinion the trustees consider the Foundation’s organisational and control measures as currently effective. They are satisfied that the measures taken, together with availability of resources, meet the going concern parameters. The Finance and Governance sub-committee review the position on a regular basis and continue to give their support. Trustees are confident that the charity is able to carry out its activities and that its income generation and costs are being kept under constant review enabling them to react accordingly to ensure that the entity is a going concern.

Leeds Rhinos Foundation has achieved growth over the years, with a very positive result this year; it is the intention that it will continue to operate for the foreseeable future. The detailed financial projections for the coming year provide comfort to the Board regarding the financial health and viability of the Foundation.

The trustees believe that it remains appropriate to prepare the financial statements on a going concern basis.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDING 31 OCTOBER 2022

Trustees’ responsibilities

The trustees (who are also directors of Leeds Rugby Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to the auditor

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

In accordance with the Company’s Financial Management Policy, the audit will go out for tender and a resolution proposing the appointment of auditors for the year ending 31 October 2023 will be put forward at the Annual General Meeting 2023.

In preparing this report the trustees have taken advantage of the small companies exemption provided by the Companies Act 2006.

The report was approved by the board on 18 April 2023 and signed on its behalf by:

…………………………………

P G Hirst FCA Trustee

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LEEDS RUGBY FOUNDATION

CHAIRMAN’S STATEMENT

FOR THE YEAR ENDING 31 OCTOBER 2022

Coming out of pandemic restrictions, but with programmes still impacted, it was anticipated that this would be an immensely challenging year financially, indeed a deficit budget was approved in principle whilst the Foundation regained its feet. The turnaround in performance to a healthy surplus and increased reserves, in line with our reserves policy, is a huge testament to the Senior Leadership Team, not least their rigorous work on cost, and the ethos instilled in the staff. We are committed to offering all the platform for their skills and talents to be continually recognised, developed and honed.

Some new opportunities were identified and brought into our portfolio of projects, with the Foundation continuing to broaden its scope, most especially in hard to reach areas of the local population, in line with the terms of its aims and objectives.

The exhaustive work on governance and policy, including formalising terms of tenure for the trustees for the first time, was further advanced and nears completion, with a suite of documents now in place. That, as well as the monitoring of the financial position and recommendations for both, was initially overseen by the Finance & Governance sub-committee which reported to the Board, enables a more concentrated overview at trustee meetings, the Chair and CEO meeting on an almost weekly basis in addition. The detailed and comprehensive papers now available to the Board in advance of the meetings, together with an annual schedule of key matters, has meant the trustees have been best briefed to monitor and challenge any findings or recommendations.

The appointment of two new trustees as part of the updated trustee development process and a renewed, avowed commitment to divergent thinking among the Board has continued.

Significant work has gone in to drawing up the new Rugby League Development Plan for 2023-2027 which will see even greater and more inclusive offers within the women’s and girl’s, wheelchair, and physical and learning disability areas to facilitate change in even more lives through the power of sport. Likewise in the spread of community netball.

The viability and reputation of the Foundation has been further enhanced, not least through its bespoke South Stand Hub, which has seen a range of groups and ages throughout the community avail themselves of the facilities.

My continued thanks go to the Board of Trustees for their understanding, patience and input over a period of necessary and rigorous examination of all aspects of the Foundation, which will stand it in best stead for the next phase of growth.

They, in turn, join me in thanking all who have contributed to the Foundation being able to continue its vital work, including the club, our sponsors, donors, supporters and volunteers.

…………………………… P H Caplan Chair

18 April 2023

………………..

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LEEDS RUGBY FOUNDATION

CHIEF EXECUTIVE OFFICER’S REPORT FOR THE YEAR ENDING 31 OCTOBER 2022

At the time of writing this annual report the Leeds Rhinos Foundation, staff, trustees, volunteers and supporters reflect on the life of its inaugural Chair, and first Life President, David Sidney Oxley CBE who passed away recently. It goes without saying that without his leadership, vision, support and scrutiny over the years Leeds Rhinos Foundation would not be in as strong a position as it currently is.

The year ending 31st October 2022 has been a very successful one for Leeds Rhinos Foundation and I am sure David would have been very proud of our achievements in this full operating year ‘free’ of the negative influences of Covid-19. At this time one considers what we mean by success and I think it only fitting to start this report with words chosen by David himself for his funeral.

What is success?

To laugh often and much; to earn the respect of intelligent people and to win the affection of children; to appreciate the beauty in nature and all that surrounds us; to seek out nature and the best in others; to give the gift of yourself to others without any thought of return, for it is in giving that we receive; to have celebrated with great joy and enthusiasm and sung with exaltation; to have hope even in times of despair, for as long as you have hope, you have life; to love and be loved; to be understood and to understand; to know that even one life has breathed easier because you have lived; this is to have succeeded.

Ralph Waldo Emerson

Under our ‘Sports’ pillar we were able to enjoy a full rugby league season, a complete academic year at schools and a full calendar of community activity enabling us to return to 2019 levels of activity, engagement and partnerships.

Our ‘Community’ involvement within the ‘Rhinos Netball’ offer allowed us to take forward a sport that alongside women and girls rugby league meant that we were increasing delivery in the sphere of female participation in sport.

This past year saw our ‘Inclusion’ strategy really take off. It was our first year taking complete control of the ’Wheelchair’ rugby league team who went on to finish top of the table, win the Challenge Cup and reach the Super League Grand Final. This bodes well for the future and the squad not only look forward to a home World Cup but also developing a community/second and youth team.

Our ‘Learning Disability’ Super League squad has grown and they have enjoyed many festivals, but more importantly we have created numerous volunteering opportunities for them, including the women's football EUROS during the summer.

Our ‘Physical Disability’ team won their Grand Final resulting in many more people showing an interest in playing when they thought the game was no longer accessible to them. A highlight of the year was a blind member of our squad going viral on social media as he was filmed live kicking a successful conversion! The future is very bright for this area of our work and it is highly likely our resources into it increase in the forthcoming year.

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LEEDS RUGBY FOUNDATION

CHIEF EXECUTIVE OFFICER’S REPORT

FOR THE YEAR ENDING 31 OCTOBER 2022

‘Health’ is at the forefront of everyone in the country and services that we deliver have never been more in demand. We continue to provide our regular weight management programmes and dementia support, but we have also seen a large increase in mental health first aid and awareness provision.

Via our highly acclaimed ‘Offload’ project many hundreds of people have benefitted from our service which helps people to realise speaking up and sharing experiences in a group setting really does help. As a result of this success, towards the latter end of the year we were selected by the national charity Movember to deliver a fully funded ‘Ahead of the Game’ project that will target hundreds of young fourteen year olds who are struggling with their mental health.

We have also played a major part this year in establishing, along with partners, the first ever Rob Burrow Leeds Marathon which will take place in May 2023 where in excess of 12,000 runners will pound the streets of Leeds for 26.2 miles, starting and finishing at our home stadium. This event has provided us with a new annual pathway to encourage people to take up running. Our ‘Run with The Rhinos’ 2022 event saw just short of 200 participants taking part and raising funds for the Foundation, the Marathon will provide us with a perfect springboard to grow these numbers.

Our relationships with schools in Leeds goes from strength to strength, in particular our Well Schools collaboration, meaning that hundreds of young people experience top class physical activity provision before, during and after school. We now employ two full time schools’ games organisers via our partner school arrangements, meaning the Foundation is at the forefront of education leaders’ minds when they are looking to increase sporting opportunities for their pupils.

We continue to play a major strategic role within the Leeds Learning Alliance and during this year we have entered into negotiations with other members around developing a unique project to be based at the stadium which will target the concerning levels of violence and misogynistic views expressed by too many young men.

Post Covid also meant that we were able to deliver our ‘OnSide’ project once again within the secure setting and it has also resulted in the local Violence Reduction Unit expressing a desire for us to deliver in Leeds Prison and also in Wetherby Young Offenders Institution.

The contracted staff of the Foundation have performed extremely well this year, they are our most important marketing tool and their success results in our growth in both profile and size. Following two severely Covid affected years we felt it was important to continue to focus on their welfare and development. A fully structured and diarised schedule of training days have taken place which included their involvement in a SWOT analysis of the organisation. The Chief Executive Officer also made time for every member of staff to have an individual 1-2-1 session with him; this was taken up by 100% of the staff team.

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LEEDS RUGBY FOUNDATION

CHIEF EXECUTIVE OFFICER’S REPORT

FOR THE YEAR ENDING 31 OCTOBER 2022

It is only right that I also pay tribute to the Board of Trustees of the Foundation who, this year in particular, have worked tirelessly with the Senior Leadership Team in regard to our adherence to the governance code for larger charities. This has resulted in a much more professional, compliant and strategic model of governance which cascades right down to staff on the front line, assisting them to perform to their highest levels. Instrumental in this area of work has been our appointment of a new role within the senior management structure, a Head of Compliance, Governance and Risk role, which means we are much more proactive in this important area of our role as a charity.

It is extremely pleasing to finish the year in a very strong financial position. Controlling expenditure, attracting a greater number of donations and being successful with most grant applications has assisted in creating a sizeable surplus. We go into our next year full of confidence across all facets of the Foundation in the expectation that the Rugby League World Cup, which commenced in the final month of this current financial year, will provide a springboard for expansion.

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B Bowman QPM Chief Executive Officer

18 April 2023

…………….…

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF LEEDS RUGBY FOUNDATION

FOR THE YEAR ENDING 31 OCTOBER 2022

Opinion

We have audited the financial statements of Leeds Rugby Foundation Limited (the ‘parent charitable company’) for the year ended 31 October 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF LEEDS RUGBY FOUNDATION

FOR THE YEAR ENDING 31 OCTOBER 2022

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees report and the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 7, the trustees (who are also the directors of Leeds Rugby Foundation for the purposes of company law) 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 determine is necessary to enable the preparation of financial statements that are free from material misstatements, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’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 group and parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF LEEDS RUGBY FOUNDATION

FOR THE YEAR ENDING 31 OCTOBER 2022

Because of the field in which the client operates we identified the Data Protection Act, employment law, safeguarding legislation, health and safety legislation, compliance with the UK Companies Act and tax legislation as the areas most likely to have a material impact on the financial statements.

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 compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidancefor-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx.

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Williams (Senior Statutory Auditor) For and on behalf of

MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP

12/06/2023 ……………………

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LEEDS RUGBY FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDING 31 OCTOBER 2022

Note
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income
6
Total income and endowments
Expenditure on:
Charitable activities
7
Raising funds
10
Other
11
Total expenditure
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
23
Income and endowments from:
Total funds carried forward		 Unrestricted
funds
£
288,148
400,093
169,745
-
857,986		 Restricted
funds
£
62,616
471,014
-
-		 Total funds
Total funds
2022
2021
£
£
350,764
194,040
871,107
741,340
169,745
111,975
-
100,172
1,391,616
1,147,527
1,269,435
1,068,493
22,885
9,324
9,412
25,226
1,301,732
1,103,043
89,884
44,484
-
-
89,884
44,484
399,363
354,879
489,247
399,363
533,630
746,024
22,885
9,412		 523,411
-
-
778,321 523,411
79,665
(174)		 10,219
174
79,491
369,637		 10,393
29,726
449,128 40,119

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

-15-

LEEDS RUGBY FOUNDATION CONSOLIDATED BALANCE SHEET

FOR THE YEAR ENDING 31 OCTOBER 2022

Note
Tangible assets
15
Intangible assets
16
Total fixed assets
Current assets
Debtors
18
Cash at bank and in hand
Total current assets
Liabilities
19
Net current assets
Total assets less current liabilities
20
Net assets
Funds
Unrestricted general fund
Restricted funds
Total funds
23
Fixed assets
Creditors:Amounts falling due after more
than one year
Creditors:Amounts falling due within one
year		 Unrestricted
funds
£
81,324
-
81,324
85,515
387,159		 Restricted
funds
£
-
-		 Total
funds
2022
£
81,324
-		 Total
funds
2021
£
109,952
375
-
40,440
82,718		 81,324
125,955
469,877
595,832
(187,909)		 110,327
70,766
588,265
472,674
(104,870)		 123,158
(83,039)		 659,031
(369,995)
367,804 40,119 407,923 289,036
449,128
-		 40,119
-		 489,247
-		 399,363
-
449,128 40,119 489,247 399,363
449,128
-		 -
40,119		 449,128
40,119		 369,637
29,726
449,128 40,119 489,247 399,363

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

and signed on its behalf by:

………………………………

P G Hirst FCA Trustee Company number: 03364718

The notes on pages 19 to 37 form part of these financial statements.

-16-

LEEDS RUGBY FOUNDATION

CHARITY BALANCE SHEET

FOR THE YEAR ENDING 31 OCTOBER 2022

Note
Tangible assets
15
Intangible assets
16
Investments
17
Total fixed assets
Current assets
Debtors
18
Cash at bank and in hand
Total current assets
Liabilities
19
Net current assets
Total assets less current liabilities
20
Net assets
Funds
Unrestricted general fund
Restricted funds
Total funds
22
Fixed assets
Creditors:Amounts falling due after more
than one year
Creditors:Amounts falling due within one
year		 Unrestricted
funds
£
81,324
-
1
81,325
52,519
354,664		 Restricted
funds
£
-
-		 Total
funds
2022
£
81,324
-
1		 Total
funds
2021
£
109,952
375
1
-
40,440
82,718		 81,325
92,959
**437,382 **		 110,328
60,814
575,067
407,183
(104,369)		 123,158
(83,039)		 530,341
(187,408)		 635,881
(368,818)
302,814 40,119 342,933 267,063
384,139
-		 40,119
-		 424,258
-		 377,391
-
384,139 40,119 424,258 377,391
384,139
-		 -
40,119		 384,139
40,119		 347,665
29,726
384,139 40,119 424,258 377,391

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

and signed on its behalf by:

………………………………

P G Hirst FCA Trustee Company number: 03364718

The notes on pages 19 to 37 form part of these financial statements.

-17-

LEEDS RUGBY FOUNDATION CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDING 31 OCTOBER 2022

Note
£
Cash inflows from operating activities:
(i)
Cash flows from investing activities:
Purchase of property, plant and equipment
(4,677)
Purchase of intangible assets
-
Change in cash and cash equivalents in the year
(ii)
Net cash used for investing activities
Cash and cash equivalents at 31 October
2022
Net cash generated from operating
activities
Cash and cash equivalents at 1 November 2021
(i)
Reconciliation of net income/(expenditure) to net cash
Net income for the reporting period
Adjustments for:
Depreciation charges
Amortisation charges
Loss on disposal of fixed assets
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash generated from operating activities
(ii)
Analysis of cash and cash equivalents
Current account		 £
(4,677)
-		 2022
£
(113,711)
(4,677)
(118,388)
588,265
469,877
from operating		 £
(1,950)
-		 2021
£
4,756
(1,950)
2,806
585,459
588,265

-18-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

1 Accounting policies

General information and basis of preparation

Leeds Rugby Foundation is a private company limited by guarantee in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Trustees’ Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The accounts have been prepared on the basis that the Foundation can continue to operate as a going concern. The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the next eighteen months. The trustees approved the 2022-23 financial budget and reviewed forecasts incorporating known challenges and pressures of inflation. The charity’s profile is still deemed in high regard as is the demand for its services. Based on this, the trustees believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments or material uncertainties that would result from the basis of preparation being inappropriate.

Group financial statements

The statement of financial activities and the balance sheet consolidate the financials of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The charity has adapted the Companies Act formats to reflect the special nature of the charity’s activities. No separate Statement of Financial Activities has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006 and the SORP. Total incoming resources for the charity alone were £1,332,582 (2021: £1,119,671) and the net increase in funds was £46,867 (2021: £61,496). The parent company’s surplus for the year for Companies Act purposes was £46,867 (2021: £61,496).

Funds

Unrestricted funds are incoming resources receivable or generated without further specified purpose. They are available for use at the discretion of the trustees in furtherance of the objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Transfers are made from restricted to unrestricted funds where applicable. Transfers from unrestricted funds to restricted funds are made if a project’s expenditure has exceeded income and this is not anticipated to reverse.

-19-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

1 Accounting policies (continued)

Income recognition

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The charity receives grants in respect of specific projects. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Donated services and facilities

Donated services and facilities are included as income and matching expenditure in accordance with the estimated value of the service and facilities provide as advised by the donor. If the services or facilities are in relation to a project for which other funding is restricted, the donated income and expenditure is accounted for as restricted. All other donated services and facilities are accounted for within unrestricted funds. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report where applicable.

Expenditure recognition

Expenditure is included in the Statement of Financial Activities on an accruals basis. Resources expended are allocated directly to a particular activity where costs relate directly to that activity. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. An analysis of these support costs is included in note 7.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities, with irrecoverable VAT being allocated as a support cost across the activities of the charity.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

Tangible and intangible fixed assets

Assets with a cost in excess of £250 intended to be of ongoing use to Leeds Rugby Foundation in carrying out its activities are capitalised as fixed assets.

Fixed assets are stated at cost or valuation less accumulated depreciation/amortisation. Depreciation and amortisation are provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment 33% straight line Plant & machinery 33% straight line Motor Vehicles 50% straight line Archie Gordon Pitch 10 years straight line Website 33% straight line

Heritage assets are stated at cost, net of any provision for impairment. They are considered to have an infinite useful economic life and therefore are not depreciated.

-20-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

1 Accounting policies (continued)

Investments

Investments in subsidiaries are measured at cost less impairment.

Grants receivable

Grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expenses useful lives of the assets concerned. Grants are only deferred when the company must fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be used in a future period.

Financial instruments

The charity only has financial assets and financial liabilities of a kind which qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Leases

Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Redundancy and termination payments are recognised as falling due at the termination date provided that a value can be reliably measured.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

In the trading subsidiary, the tax expense represents the sum of the tax currently payable and deferred tax.

-21-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

2 Key judgements and estimation uncertainty

In preparing these financial statements, the trustees have had to make the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.

3 Income from donations

General Donations
Rugby League Development
Community
Education, Health and Wellbeing
Heritage
Netball
Total for the year ended 31 October 2022
General Donations
Rugby League Development
Community
Education, Health and Wellbeing
Heritage
Netball
Total for the year ended 31 October 2021		 Unrestricted
funds
£
157,141
46,626
10,000
11,281
2,100
61,000		 Restricted
funds
£
36,000
26,490
-
-
126
-		 Total funds
2022
£
193,141
73,116
10,000
11,281
2,226
61,000
288,148 62,616 350,764
Unrestricted
funds
£
164,650
11,177
70
-
950
-		 Restricted
funds
£
17,193
-		 Total funds
2021
£
164,650
11,177
70
-
18,143
-
176,847 17,193 194,040

-22-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

4 Income from charitable activities

Rugby League Development
Grants and contracts
Services
Other income
Community
Grants and contracts
Services
Other income
Education, Health and Wellbeing
Grants and contracts
Other income
Netball
Services
NCS
Grants and contracts
Core
Grants and contracts
Other income
Total for the year ended 31 October 2022
Rugby League Development
Grants and contracts
Services
Community
Grants and contracts
Services
Other income
Education, Health and Wellbeing
Grants and contracts
Other income
Netball
Services
NCS
Grants and contracts
Core
Grants and contracts
Other income
Total for the year ended 31 October 2021		 Unrestricted
funds
£
-
105,694
36
-
273,835
2,833
-
6,468
6,958
-
-
4,269		 Restricted
Total funds
funds
2022
£
£
144,295
144,295
-
105,694
-
36
32,973
32,973
-
273,835
-
2,833
153,985
153,985
-
6,468
6,958
139,761
139,761
-
-
-
-
4,269
471,014
871,107
Restricted
Total funds
funds
2021
£
£
123,679
123,679
50,640
33,350
33,350
225,466
448
119,826
119,826
45
12,782
126,850
126,850
43,833
43,833
4,421
447,538
741,340
400,093
Unrestricted
funds
£
-
50,640
-
225,466
448
-
45
12,782
-
-
4,421
293,802

-23-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

4 Income from charitable activities (continued)

£254,360 (2021: £207,892) of government grants were received for specific projects. These have been recognised in line with the terms of the agreements in place and deferred where relating to later periods or unfulfilled performance criteria.

5 Income from other trading activities

Archie Gordon pitch
Fundraising events
Charity total
Income from trading subsidiary
Total for the year ended 31 October 2022
Archie Gordon pitch
Fundraising events
Charity total
Income from trading subsidiary
Total for the year ended 31 October 2021		 Unrestricted
funds
£
22,000
67,745		 Restricted
funds
£
-
-		 Total funds
2022
£
22,000
67,745
89,745
80,000		 -
-		 89,745
80,000
169,745 - 169,745
Unrestricted
funds
£
20,000
26,141		 Restricted
funds
£
-
-		 Total funds
2021
£
20,000
26,141
46,141
65,834		 -
-		 46,141
65,834
111,975 - 111,975

6 Other income

During the current year there is no other income to report.

Coronavirus Job Retention Scheme grants
Total for the year ended 31 October 2021		 Unrestricted
funds
£
-		 Restricted
Total funds
funds
2021
£
£
100,172
100,172
100,172
100,172
-

-24-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2022

7 Expenditure on charitable activities

Unrestricted funds
Rugby League Development
Community
Education, Health and Wellbeing
Netball
NCS
Heritage
Archie Gordon pitch
Total unrestricted expenditure
Restricted funds
Rugby League Development
Community
Education, Health and Wellbeing
NCS
Heritage
Total unrestricted expenditure
Total expenditure on charitable activities for the year
ended 31 October 2022		 Staff
costs
£
164,536
287,527
20,553
28,753
20,334
-
-		 Admin
Total funds
costs
2022
£
£
75,778
240,314
49,723
337,250
16,670
37,223
40,000
68,753
16,670
37,004
1,746
1,746
23,734
23,734
224,321
746,024
27,746
190,705
9,670
47,636
9,939
148,798
13,370
136,272
-
-
60,725
523,411
285,046
1,269,435
521,703
162,959
37,966
138,859
122,902
-
462,686
984,389

-25-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2022

7 Expenditure on charitable activities (continued)

Expenditure on charitable activities (continued)
Unrestricted funds
Rugby League Development
Community
Education, Health and Wellbeing
Netball
NCS
Heritage
Archie Gordon pitch
Total unrestricted expenditure
Restricted funds
Rugby League Development
Community
Education, Health and Wellbeing
NCS
Heritage
Total restricted expenditure
Total expenditure on charitable activities for the year
ended 31 October 2021		 Staff
costs
£
88,415
173,479
29,501
15,105
19,994
-
-		 Admin
Total funds
costs
2021
£
£
71,225
159,640
32,180
205,659
25,218
54,719
3,689
18,794
19,909
39,903
2,181
2,181
18,711
18,711
173,113
499,607
160
174,478
3,804
62,513
12,630
152,261
20,007
162,856
16,778
16,778
53,379
568,886
226,492
1,068,493
326,494
174,318
58,709
139,631
142,849
515,507
842,001

8 Support costs

Rugby League Development
Community
Education, Health and Wellbeing
NCS
Total for the year ended 31 October 2022		 Staff
costs
£
61,621
68,872
25,373
25,374		 Admin
Total funds
costs
2022
£
£
40,485
102,106
45,248
114,120
16,670
42,043
16,670
42,044
119,073
300,313
181,240

-26-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2022

8 Support costs (continued)

Staff
costs
£
Rugby League Development
84,534
Community
39,451
Education, Health and Wellbeing
35,693
NCS
28,179
Total for the year ended 31 October 2021
187,857		 Admin
Total funds
costs
2021
£
£
59,728
144,262
27,873
67,324
25,218
60,911
19,909
48,088
132,728
320,585

Support costs are those associated with admin, IT and establishments that are charged centrally. These are then apportioned on a basis consistent with the use of the resource.

9 Governance costs

Auditor's fees
Legal and professional fees
Wages and salaries		 2022
2021
£
£
12,200
6,775
114
46
24,795
20,579
37,109
27,400

10 Expenditure on raising funds

Fundraising events
Total for the year ended 31 October 2022
Fundraising events
Total for the year ended 31 October 2021		 Staff
Admin
Total funds
costs
costs
2022
£
£
£
-
22,885
22,885
-
22,885
22,885
Unrestricted funds
Staff
Admin
Total funds
costs
costs
2021
£
£
£
-
9,324
9,324
-
9,324
9,324
Unrestricted funds
-

-27-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

11 Other expenditure

Trading costs of subsidiary
Loss on disposal of fixed assets
Total for the year ended 31 October 2022
Trading costs of subsidiary
Loss on disposal of fixed assets
Total for the year ended 31 October 2021		 Staff
Admin
Total funds
costs
costs
2022
£
£
£
-
889
889
-
8,523
8,523
-
9,412
9,412
Staff
Admin
Total funds
costs
costs
2021
£
£
£
-
25,226
25,226
-
-
-
-
25,226
25,226
Unrestricted funds
Unrestricted funds
-

All other expenditure is from unrestricted funds in the current and preceding period.

12 Net income/(expenditure)

2022 2021
£ £
These are stated after charging:
Auditor's remuneration - charity 12,200 6,775
Auditor's remuneration - trading subsidiary 700 1,175
Depreciation 24,782 76,082
Amortisation 375 1,000
Operating lease rentals 5,040 9,062

13 Auditor’s remuneration

The auditor’s remuneration amounts to the charity audit fee of £10,300 (2021: £5,775) and the trading subsidiary audit fee of £nil (2021: £750). Other non-audit services payable by the charity were £2,145 (2021: £1,635) and other non-audit services payable by the trading subsidiary were £700 (2021: £425).

-28-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

14 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

personnel
Wages and salaries
Social security costs
Employer's contribution to defined contribution pension schemes
Other staff costs		 2022
£
797,031
62,424
**21,102 **		 2021
£
684,500
57,066
17,688
880,557
**103,832 **		 759,254
82,747
842,001
984,389

Other staff costs relate to amounts recharged from related companies along with other costs of employment.

The average number of employees during the period, analysed by category was:

2022
No.
Direct charitable
38
38
The number of employees whose annual remuneration was £60,000 or more was:
2022
No.
In the band £60,000 - £70,000
1		 2022
No.
38		 2021
No.
34
38 34
2021
No.
1

The number of employees whose annual remuneration was £60,000 or more was:

The key management personnel of the Group are listed on page 1. The total employee benefits of the key management personnel were £256,696 (2021: £241,106).

The trustees received no remuneration or other benefits and no expenses were reimbursed in either the current or preceding period.

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. Contributions are charged to the Statement of Financial Activities in the year in which they become payable.

The pension cost charge represents contributions payable by the Group to the fund and amounted to £21,102 (2021: £17,688). Contributions totalling £8,799 (2021: £14,571) were payable to the fund at the reporting date.

-29-

LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

15 Tangible fixed assets – Group and Charity

Archie Gordon
pitch
Cost
£
At 1 November 2021
690,183
Additions
-
Disposals
-
At 31 October 2022
690,183
Depreciation
At 1 November 2021
602,081
Charge for year
18,899
At 31 October 2022
620,980
Net Book Value
At 31 October 2022
69,203
At 31 October 2021
88,102		 Archie Gordon
pitch
Cost
£
At 1 November 2021
690,183
Additions
-
Disposals
-
At 31 October 2022
690,183
Depreciation
At 1 November 2021
602,081
Charge for year
18,899
At 31 October 2022
620,980
Net Book Value
At 31 October 2022
69,203
At 31 October 2021
88,102		 Computer
equipment
£
28,191
3,624
-
31,815		 Plant &
Machinery
£
19,703
1,053
-		 Assets
under
construction
£
8,523
-
(8,523)
-
-
-
-
-
8,523		 Heritage
assets
£
6,872
-
-		 Total
£
753,472
4,677
(8,523)
749,626
690,183 20,756 6,872
-
-
602,081
18,899		 24,196
3,443		 17,243
2,440		 643,520
24,782
620,980 27,639 19,683 - 668,302
69,203 4,176 1,073 6,872 81,324
88,102 3,995 2,460 6,872 109,952

Heritage assets

Heritage assets are all held at cost and consist of historical items relating to the rugby club and held for display to the public. The charity has not obtained a valuation of its donated heritage assets. It is impracticable because given the low value of the assets held, the cost to the charity of obtaining such a valuation would outweigh the benefits gained.

Summary analysis

Purchased
Assets held at cost
16
Intangible Assets – Group and Charity
Cost
At 1 November 2021
Additions
At 31 October 2022
Depreciation
At 1 November 2021
Charge for year
At 31 October 2022
Net Book Value
At 31 October 2022
At 31 October 2021		 Total
£
6,872		 2017
£		 2016
2015
£
£
2,000 750
4,122
Website
Total
£
£
3,000
3,000
-
-
3,000
3,000
2,625
2,625
375
375
3,000
3,000
-
-
375
375

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LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

17 Investments – Charity

2022 2021
£ £
At 1 November 2021 and 31 October 2022 1 1

The investment relates to the charity’s investment in Leeds Rugby Foundation Services Limited (Company number: 06091052) representing 1 Ordinary share of £1 each, which is the company’s entire share capital.

The principal activity of Leeds Rugby Foundation Services Limited is to generate trading income in support of the activities undertaken by the charity. The capital and reserves of Leeds Rugby Foundation Services Limited on 31 October 2022 were £64,989 (2021: £21,972). A summary of its results for the period ended 31 October 2022 and year ended 31 October 2021 are as follows:

Turnover
Admin expenses
Profit before taxation
Taxation
Profit after taxation
Retained earnings brought forward
Distributions to parent charity under gift aid
Retained earnings carried forward		 2022
£
80,000
(16,017)		 2021
£
65,834
(44,868)
63,983
-		 20,966
-
63,983
21,972
(20,966)		 20,966
38,984
(37,978)
64,989 21,972

18 Debtors

Trade debtors
Prepayments
Accrued income
Amounts owed by group undertakings		 2022
2021
£
£
56,821
61,219
7,281
4,778
61,853
4,769
-
-
125,955
70,766
Group		 2022
2021
£
£
56,821
61,219
7,281
4,778
61,853
4,769
-
-
125,955
70,766
Group		 2022
2021
£
£
56,821
46,219
6,285
4,778
29,853
4,769
-
5,048
92,959
60,814
Charity
125,955 70,766

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LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2022

19 Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year year
Trade creditors
Other taxes and social security
Other creditors
Accruals
Deferred income
Amounts owed by group undertakings		 2022
2021
£
£
11,251
16,915
24,125
20,886
-
68,649
30,921
39,235
121,612
224,310
-
-
187,909
369,995
Group		 2022
2021
£
£
11,251
16,915
24,125
20,886
-
68,649
30,221
38,058
121,612
224,310
199
-
187,408
368,818
Charity
187,909 369,995

20 Creditors: Amounts falling due after more than one year

At the year end there are no amounts falling due after more than one year.

21 Deferred income

Balance at 1 November
Amount released to income
Amount deferred in the period
Balance at 31 October		 2022
2021
£
£
224,310
387,389
(208,120)
(266,799)
105,422
103,720
121,612
224,310
Group		 2022
2021
£
£
224,310
387,389
(208,120)
(266,799)
105,422
103,720
121,612
224,310
Group		 2022
2021
£
£
224,310
379,056
(208,120)
(258,466)
105,422
103,720
121,612
224,310
Charity
121,612 224,310

Deferred income comprises of the following:

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LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

22 Movements in funds

At 1 November
2021
£
Unrestricted funds
General fund
347,665
Restricted funds
Rugby League Development
16,940
Community
809
Education, Health & Wellbeing
11,562
Heritage
415
NCS
-
Core
-
29,726
Charity total funds
377,391
Unrestricted funds
Leeds Rugby Foundation
Services Limited
21,972
Group total funds
399,363		 At 1 November
2021
£
Unrestricted funds
General fund
347,665
Restricted funds
Rugby League Development
16,940
Community
809
Education, Health & Wellbeing
11,562
Heritage
415
NCS
-
Core
-
29,726
Charity total funds
377,391
Unrestricted funds
Leeds Rugby Foundation
Services Limited
21,972
Group total funds
399,363		 Incoming
resources
£
777,986
170,785
32,973
153,985
126
139,761
36,000		 Resources
expended
£
(762,304)
(178,465)
(33,956)
(143,758)
-
(131,232)
(36,000)		 At 31 October
Transfers
2022
£
£
20,792
384,139
-
9,260
174
-
-
21,789
-
541
-
8,529
-
-
174
40,119
20,966
424,258
(20,966)
64,989
-
489,247
29,726 533,630 (523,411)
377,391
21,972		 1,311,616
80,000		 (1,285,715)
(16,017)
399,363 1,391,616 (1,301,732)

The specific purposes for which the funds are applied are as follows:

Rugby League Development

The on-going grant support from the RFL allows us to continue to deliver and develop specific areas of engagement in rugby league, specifically, women and girls, wheelchair, PDRL and growth areas outside of Leeds. Mencap and Community Integrated Care are partnerships which allow us to continue growing the accessibility of these vulnerable groups to take part in physical recreation and sport. Funding is also received to support an initiative to facilitate disadvantaged communities to access a gameday spectacle.

Community

Leeds City Ward Councillors and their respective area committees recognise that the Foundation delivers high quality provision at excellent value for money in the most challenging and deprived areas of the city. They support this work with the provision of grant funding which allows us to continue to deliver more personal development camps year on year.

Education, Health and Wellbeing

Education

Funding was secured to enhance vulnerable young people’s development via a designated scheme in schools for Y7 pupils.

Ongoing funding was secured through the local Violence Reduction Unit enabling us to continue delivering our offender rehabilitation/management intervention work.

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LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

22 Movements in funds (continued)

Health and Wellbeing

The Foundation offers an effective, credible and respected health intervention service which attracts funding allowing us to deliver services to those clients who suffer health inequalities, specifically in the areas of weight management (obesity). Ongoing funding was also received via a national charity, Rugby League Cares, to deliver mental health and resilience training, predominantly to adult males.

Heritage

We commenced a project in the previous financial year to recognise the services of Kevin Sinfield OBE and Rob Burrow MBE via a statue called the ‘Brothers in Arms’ project. Minimal funding was secured this year with the project coming to a halt.

NCS

The NCS programme was delivered for its 3rd year in the Foundation continuing to empower young people and build their confidence and social development. The Kickstart grant continued into this year allowing five young people to work across our various departments and gain valuable skills and experience. Pleasingly, we were able to offer a full time post to one of the Kickstart workers, who now works in our Community department.

Core

Ongoing funding is secured to continue our work promoting ruby union within the community.

General unrestricted funds

Unrestricted income funds represent the resources which may be used towards meeting any of the charitable objects of the charity at the discretion of the trustees. Where restricted funding for individual projects has been overspent in the year transfers are made from the general unrestricted fund to subsidise the projects.

At 1 November
2020
£
Unrestricted funds
General fund
285,628
Restricted funds
Rugby League Development
3,326
Community
-
Education, Health & Wellbeing
15,835
Heritage
-
NCS
11,106
Core
-
30,267
Charity total funds
315,895
Unrestricted funds
Leeds Rugby Foundation
Services Limited
38,984
Group total funds
354,879		 At 1 November
2020
£
Unrestricted funds
General fund
285,628
Restricted funds
Rugby League Development
3,326
Community
-
Education, Health & Wellbeing
15,835
Heritage
-
NCS
11,106
Core
-
30,267
Charity total funds
315,895
Unrestricted funds
Leeds Rugby Foundation
Services Limited
38,984
Group total funds
354,879		 Incoming
resources
£
516,790
163,538
51,863
137,621
17,193
140,123
54,565		 Resources
expended
£
(489,289)
(149,924)
(51,054)
(141,894)
(16,778)
(154,671)
(54,565)		 At 31 October
Transfers
2021
£
£
34,536
347,665
-
16,940
-
809
-
11,562
-
415
3,442
-
-
-
3,442
29,726
37,978
377,391
(37,978)
21,972
-
399,363
30,267 564,903 (568,886)
315,895
38,984		 1,081,693
65,834		 (1,058,175)
(44,868)
354,879 1,147,527 (1,103,043)

-34-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2022

23 Analysis of net assets between funds

Fund balances at 31 October 2022 are represented by:
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Creditors due in more than one year
Fund balances at 31 October 2021 are represented by:
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Creditors due in more than one year		 Unrestricted
funds
£
81,324
-
472,674
(104,870)
-		 Restricted
2022
funds
Total
£
£
-
81,324
-
-
123,158
595,832
(83,039)
(187,909)
-
-
40,119
489,247
Restricted
2021
funds
Total
£
£
-
109,952
375
170,796
659,031
(141,070)
(369,995)
-
-
29,726
399,363
449,128
Unrestricted
funds
£
109,952
375
488,235
(228,925)
-
369,637

24 Commitments under operating leases

The charity had minimum lease payments under non-cancellable operating leases as set out below:

Expiring:
Within one year
Between one and five years		 2022
2021
£
£
4,695
5,040
4,695
4,695
9,735
Group		 2022
2021
£
£
4,695
5,040
4,695
4,695
9,735
Group		 2022
2021
£
£
4,695
5,040
4,695
4,695
9,735
Charity
4,695 9,735

-35-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

25 Transactions with related parties

The trustees neither received nor waived any emoluments during the period and no expenses were reimbursed. Total donations received without condition from trustees amounted to £478 (2021: £nil).

During the period Leeds Rugby Foundation received donations under gift aid of £20,966 (2021: £37,978) from its subsidiary Leeds Rugby Foundation Services Limited. Other income of £15,128 (2021: £19,642) was received from Leeds Rugby Foundation Services Limited. On 31 October 2022 £199 (2021: £5,048) was due from the charity to Leeds Rugby Foundation Services Limited.

During the period Leeds Cricket, Football and Athletic Company Limited is a company of which trustees G Hetherington and P G Hirst are directors. Other income of £26,400 (2021: £35,044) was received by the charity from Leeds Cricket, Football and Athletic Company Limited. During the period Leeds Cricket, Football and Athletic Company Limited charged the Group £59,441 (2021: £82,548) for management fees and other charges.

During the period, Leeds Cricket, Football and Athletic Company Limited charged the subsidiary £nil (2021: £28,500). The subsidiary received income of £38,400 (2021: £nil) from Leeds Cricket, Football and Athletic Company Limited.

At the period end the charity owed £nil (2021: £nil) and the subsidiary company owed £nil (2021: £nil) to Leeds Cricket, Football and Athletic Company Limited. At the period end, Leeds Cricket, Football and Athletic Company Limited owed £nil (2020: £nil) to the charity and owed £38,400 (2021: £nil) to the subsidiary.

During the period Leeds Rhinos Netball Limited, a company of which trustees M Birkinshaw, G Hetherington and M Pexton are directors, was charged £nil (2021: £1,041) by Leeds Rugby Foundation. During the period Leeds Rhinos Netball charged Leeds Rugby Foundation £48,000 (2021: £100). At the period end Leeds Rhinos Netball owed the charity £nil (2021: £nil) and the charity owed Leeds Rhinos Netball £nil (2021: £nil).

During the period Chadwick Lawrence LLP, a partnership of which trustee N Wilson is managing partner, was charged £350 (2021: £270) by Leeds Rugby Foundation. During the period Chadwick Lawrence LLP charged Leeds Rugby Foundation £nil (2021: £1,431). At the period end, Chadwick Lawrence LLP owed the charity £nil (2021: £nil). Chadwick Lawrence LLP was charged £7,200 (2021: £nil) by Leeds Rugby Foundation Services. At the period end Chadwick Lawrence LLP owed the subsidiary company £nil (2021: £nil).

There are no other related party transactions.

-36-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2022

26 Financial instruments

The carrying amounts of the charity’s financial instruments are as follows:

2022
2021
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
56,821
61,219
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
469,877
588,265
526,698
649,484
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(11,251)
(16,915)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
(68,649)
(11,251)
(85,564)
Group		 2022
2021
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
56,821
61,219
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
469,877
588,265
526,698
649,484
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(11,251)
(16,915)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
(68,649)
(11,251)
(85,564)
Group		 2022
2021
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
56,821
61,219
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
469,877
588,265
526,698
649,484
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(11,251)
(16,915)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
(68,649)
(11,251)
(85,564)
Group		 2022
2021
£
£
56,821
46,219
-
5,048
437,382
575,067
494,203
626,334
1
1
1
1
(11,251)
(16,915)
(199)
-
-
(68,649)
(11,450)
(85,564)
Charity
526,698
- -
- -
(11,251)
-
-		 (16,915)
-
(68,649)
(11,251) (85,564)

27 Members

The liability of members is limited to a guarantee of £10 each if the charitable company is wound up during membership or within one year after ceasing to be a member. At of 31 October 2022 there were twelve (2021: fourteen) members.

28 Amended accounts

These amended accounts replace the original accounts filed at Companies House on 25 May 2023 and are now the statutory accounts. The amended accounts have been filed due to formatting issues in the original document, other than this the content has not changed.

-37-