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← Leeds Rugby Foundation

2023-10-31-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 2023

LEEDS RUGBY FOUNDATION

CONTENTS

Page
Legal and Administrative Information 1
Trustees’ Report (Including Directors’ Report) 2
Chair and Chief Executive Officer’s Report 8
Independent Auditor’s Report 11
Consolidated Statement of Financial Activities 14
Consolidated Balance Sheet 15
Charity Balance Sheet 16
Consolidated Statement of Cash Flows 17
Notes to the Financial Statements 18

LEEDS RUGBY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P H Caplan Chair resigned 18 April 2023
P G Hirst FCA Resigned 18 April 2023
G Hetherington Resigned 18 April 2023
J D P Jones-Buchanan MBE
M Pexton Chair appointed 18 April 2023
N H Clephan OBE
C Kaiper-Holmes
N A Wilson
J D Pryor
P A Hill
K Brown
M Birkinshaw
F E Venner
S M Ward Appointed 31 October 2023
Company Secretary P A Hill
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 AMT Headingley Rugby Stadium
St Michaels Lane
Leeds
LS6 3BR
Company registration number 03364718 (England and Wales)
Charity registration number 1112580
Auditor MHA
Richard House
Winckley Square
Preston
PR1 3HP
Bankers Barclays Bank Plc
Leeds 2
Leicester
LE87 2BB
Virgin Money
94-96 Briggate
Leeds
LS1 6NP

-1-

LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDING 31 OCTOBER 2023

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 2023. 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, 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 (updated 18 April 2023) 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 Limited (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 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 2023

Our objectives: -

Our aims: -

Details of our significant activities are provided in the Chair and 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.

No trustees received any remuneration or other benefit from their work with the charity and 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 2023

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 wide ranging perspectives encourage debate, improve decision making and governance and provide 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 respect of 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 CEO for any questions or background.

Existing trustees

In accordance with the Articles of Association, trustees are appointed for a three year term after which they must retire, but may be subject to re-election.

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 £10,305; the original budget was set as a £36,986 deficit.

The Foundation continues to deliver its services in an ever challenging post-covid environment. Turnover decreased by 3% from the previous year; this was mainly due to a drop in donations and the ability to deliver some of our core fundraising activities. We were however successful in securing new funding which enabled us to continue to deliver and grow services, such as our disability projects, and to increase some of our schools provision.

Expenditure increased by 3% since the previous year; this was expected due to new projects taken on and an increase in services, although we endeavour to make savings whilst taking opportunities to develop different and efficient ways of delivering activities.

Although there was a drop in income from the previous year and spend was higher, the overall net assets increased since the previous year.

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LEEDS RUGBY FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDING 31 OCTOBER 2023

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 continuous 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 and is undertaken at least annually.

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

Reserves policy

The Group’s unrestricted funds as of 31 October 2023 are £452,536 (2022: £449,128). Total reserves on 31 October 2023 are £499,552 (2022: £489,247). Of these £47,016 (2022: £40,119) relate to restricted income received for a specific purpose but not fully spent at the year-end. In addition, £68,744 (2022: £81,324) 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 whereby 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 2023-24 is £1,467,235 and therefore the target set is £734k in unrestricted free reserves.

The charity is holding free reserves of £383,792 (2022: £367,804). 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 2023

Plans for future periods

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

The Foundation has set out its ambitions to increase the level and range of activities undertaken in order to be the epitome of a modern sports and community foundation with work ongoing to launch a new strategic ambition within the next financial year.

Future capital commitments

There are no future planned capital commitments at this stage.

Key performance indicators

Year ended 31 October 2023 Year ended 31 October 2022
Turnover: -
Unrestricted 1,046,509 857,986
Restricted 309,715 533,630
Staff Numbers - direct 36 38
Current Ratio 2.66 3.17
Reserves: -
Unrestricted 452,536 449,128
Restricted 47,016 40,119

Events since the year end and going concern considerations

There have been no material events occurring since the end of the year.

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 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 2023

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, a resolution proposing the appointment of MHA as auditor for the year ending 31 October 2024 will be put forward at the Annual General Meeting 2024.

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 26 June 2024 and signed on its behalf by:

…………………………………

P A Hill Trustee

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LEEDS RUGBY FOUNDATION

CHAIR AND CHIEF EXECUTIVE OFFICER’S REPORT FOR THE YEAR ENDING 31 OCTOBER 2023

Welcome from Chair Mariana Pexton and CEO Bob Bowman QPM

The Leeds Rhinos Foundation has continued to build on its positive performance over the past few years. Our ability to ‘bounce back’ following the pandemic illustrates that we can be rightly proud of our charity’s governance, staff and volunteers. If we are to be judged solely on our purpose of changing lives through the power of sport then the financial period 1[st] November 2022 to 31[st] October 2023 was very successful.

The Senior Leadership Team and staff group deliver a great range of activities that make a difference every day, ensuring value for money and strong business development to make the most of opportunities that align with the vision. The Board of Trustees continue to deliver rigorous and vigorous challenge to the charity’s Senior Leadership Team whilst also adopting the can-do attitude and supporting, in so many ways, the day to day operational side of the Foundation. It was also a very positive milestone when in April 2023 Mariana Pexton became the charity’s first ever female Chair.

The following illustrates just a small selection of activities from the year:

Following on from the launch of our Rugby League Development Plan in January, February half term saw hundreds of young, aspiring players, from both Oldham and Leeds, engaging with our programmes.

275 boys and girls attending our Rhinos Talent Pathway in Leeds

55 boys attending our Rhinos Talent Pathway in Oldham

26 boys and girls attending Talent Transfer sessions in Leeds

34 boys and girls attended our @leedscitycollege Development Academy Open Sessions 150 players attending Primary Mini Camps in Leeds

25 coaches attended our Transition Coaching Workshop

In March, our Leeds Rhinos Wheelchair team kicked off their season with an outstanding win on the road against Warrington Wolves, seeing their season start with an 118-12 win. The Wheelchair First Team have also provided inspiration, time and energy into the creation of our junior and community development squads. Across the rest of our Inclusion offer we now have increased numbers taking part in our Learning Disability Rugby League programme and weekly junior development sessions working alongside our Physical Disability team.

During the Easter holiday’s over 150 children joined us for our multi-sport camps. Through funding routes such as local ward councillors and the James Milner Foundation, we were able to give children around Leeds the opportunity to have fun at the same time as keeping active and making new friends whilst being away from their school environments.

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LEEDS RUGBY FOUNDATION

CHAIR AND CHIEF EXECUTIVE OFFICER’S REPORT FOR THE YEAR ENDING 31 OCTOBER 2023

May was a very busy month here at the Foundation with staff members taking part in the inaugural Rob Burrow Leeds Marathon and our annual trip to Butlins for Rhinos Challenge. The annual Rhinos Challenge events took place over two weekends in May. They were both huge successes with 280 Rugby League and 103 Netball teams competing and over 1,250 matches taking place.

The Marathon attracted over 12,000 runners, many taking part for the first time. The Foundation was a major stakeholder in bringing the event to fruition after a twenty year absence. As a result of all runner's endeavours in excess of £5m was raised for charities and other good causes.

The beginning of June saw players from both our Community Integrated Care Learning Disability Super League and Physical Disability Rugby League team take to Newcastle for the annual Magic Weekend. Magic Weekend is one of the biggest dates in the Super League calendar and to have representation from our PDRL and LDSL teams there, showed how inclusive our sport really is.

Also taking place in June, members from our community put on their running trainers to take part in the Run for All Leeds 10k as part of our Run with the Rhinos team. Everyone did their part to raise vital funds for our Foundation, whilst achieving their own personal goals as part of an amazing team. Following this event and the marathon in May a decision was made that as a Foundation we will establish a weekly social running club based at the stadium. This will be for the everyday runner and provide a lasting legacy to the inaugural Rob Burrow CBE Leeds Marathon.

July saw one of the biggest days in the rugby league calendar, as the University of Hull hosted a Central Inclusion festival featuring three variations of the disability and inclusive game. As part of this our Learning Disability Super League team took to the hallowed turf of Headingley Stadium, playing in front of thousands of Rhinos fans.

Despite their loss in the Challenge Cup Final the previous month, in September our Wheelchair Team were announced as the 2023 League Leaders for the fourth year running.

Also in September, the Foundation launched our Parkinson’s Physical Activity sessions, in partnership with Parkinson’s UK. We now host weekly meetings at Headingley Stadium for people to improve and maintain their physical activity levels through accessible, fun and engaging rugby themed sessions.

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LEEDS RUGBY FOUNDATION

CHAIR AND CHIEF EXECUTIVE OFFICER’S REPORT FOR THE YEAR ENDING 31 OCTOBER 2023

In addition, we continue with our regular programme of activities, including match night opportunities for young people and for those who would normally face too many barriers to attending a major sporting venue. We look forward to further exciting developments and growth of the Foundation going forward with our continued focus to use sport as a vehicle to support and enable everyone to be their best, and building on our strong links with the Club more broadly.

Finally, we would like to thank all those who have generously supported us, or created fundraising opportunities, to enable us to carry on funding our incredible work.

………………………………… …………………………………

M Pexton Chair

B Bowman QPM Chief Executive Officer

26 June 2024

…………….…

26 June 2024

…………….…

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

FOR THE YEAR ENDING 31 OCTOBER 2023

Opinion

We have audited the financial statements of Leeds Rugby Foundation (the ‘parent charitable company’) for the year ended 31 October 2023 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 2023

Opinions on other matters prescribed by the Companies Act 2006

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.

Matters on which we are required to report by exception

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 specific procedures for this engagement and the extent to which these 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 2023

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/auditorsresponsibilities. 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, Statutory Auditor Preston, United Kingdom

10/07/2024

……………………

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

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LEEDS RUGBY FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDING 31 OCTOBER 2023

Note
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income and endowments
Expenditure on:
Charitable activities
8
Raising funds
11
Other
12
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
£
300,974
593,400
151,526
609
-		 Restricted
funds
£
36,000
273,715
-
-
-		 Total funds
Total funds
2023
2022
£
£
336,974
350,764
867,115
871,107
151,526
169,745
609
-
-
-
1,356,224
1,391,616
1,291,454
1,269,435
5,149
22,885
49,316
9,412
1,345,919
1,301,732
10,305
89,884
-
-
10,305
89,884
489,247
399,363
499,552
489,247
1,046,509 309,715
987,406
5,149
49,316		 304,048
-
-
1,041,871 304,048
4,638
(1,230)		 5,667
1,230
3,408
449,128		 6,897
40,119
452,536 47,016

All income and expenditure derive from continuing activities.

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

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LEEDS RUGBY FOUNDATION

CONSOLIDATED BALANCE SHEET

FOR THE YEAR ENDING 31 OCTOBER 2023

Note
Tangible 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
£
68,744
68,744
93,255
470,849		 Restricted
funds
£
-		 Total
Total
funds
funds
2023
2022
£
£
68,744
81,324
68,744
81,324
114,337
125,955
575,832
469,877
690,169
595,832
(259,361)
(187,909)
430,808
407,923
499,552
489,247
-
-
499,552
489,247
452,536
449,128
47,016
40,119
499,552
489,247
-
21,082
104,983
564,104
(180,312)		 126,065
(79,049)
383,792 47,016
452,536
-		 47,016
-
452,536 47,016
452,536
-		 -
47,016
452,536 47,016

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:

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………………………………
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P A Hill Trustee Company number: 03364718

The notes on pages 18 to 37 form part of these financial statements.

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LEEDS RUGBY FOUNDATION

CHARITY BALANCE SHEET

FOR THE YEAR ENDING 31 OCTOBER 2023

Note
Tangible 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
£
68,744
1
68,745
47,370
454,147		 Restricted
funds
£
-
-		 Total
Total
funds
funds
2023
2022
£
£
68,744
81,324
1
1
68,745
81,325
68,452
92,959
559,130
437,382
627,582
530,341
(258,381)
(187,408)
369,201
342,933
437,946
424,258
-
-
437,946
424,258
390,930
384,139
47,016
40,119
437,946
424,258
-
21,082
104,983
501,517
(179,332)		 126,065
(79,049)
322,185 47,016
390,930
-		 47,016
-
390,930 47,016
390,930
-		 -
47,016
390,930 47,016

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 A Hill Trustee Company number: 03364718

The notes on pages 18 to 37 form part of these financial statements.

-16-

LEEDS RUGBY FOUNDATION CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDING 31 OCTOBER 2023

2023
Note
£
£
Cash inflows from operating activities:
(i)
117,008
Cash flows from investing activities:
Purchase of property, plant and equipment
(11,053)
Purchase of intangible assets
-
(11,053)
Change in cash and cash equivalents in the year
105,955
469,877
(ii)
575,832
Net cash used for investing activities
Cash and cash equivalents at 31 October
2023
Net cash generated from operating
activities
Cash and cash equivalents at 1 November 2022
(i)
Reconciliation of net income/(expenditure) to net cash from operating
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
Deposit account		 £
(4,677)
-		 2022
£
(113,711)
(4,677)
activities
2023
£
10,305
23,633
-
-
11,618
71,452
(118,388)
588,265
469,877
2022
£
89,884
24,782
375
8,523
(55,189)
(182,086)
(113,711)
2022
£
469,877
-
469,877
117,008
2023
£
425,223
150,609
575,832

-17-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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 sixteen 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 £1,299,472 (2022: £1,332,582) and the net increase in funds was £13,688 (2022: £46,867). The parent company’s surplus for the year for Companies Act purposes was £13,688 (2022: £46,867).

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.

-18-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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.

-19-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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.

-20-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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
NCS
Total for the year ended 31 October 2023
General Donations
Rugby League Development
Community
Education, Health and Wellbeing
Heritage
Netball
NCS
Total for the year ended 31 October 2022		 Unrestricted
funds
£
142,122
118,948
26,000
10,210
2,740
-
954		 Restricted
Total funds
funds
2023
£
£
36,000
178,122
-
118,948
-
26,000
-
10,210
-
2,740
-
-
-
954
36,000
336,974
Restricted
Total funds
funds
2022
£
£
36,000
193,141
26,490
73,116
-
10,000
-
11,281
126
2,226
-
61,000
-
62,616
350,764
300,974
Unrestricted
funds
£
157,141
46,626
10,000
11,281
2,100
61,000
-
288,148

-21-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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
Services
Other income
Netball
Services
Other income
NCS
Grants and contracts
Heritage
Grants and contracts
Core
Other income
Total for the year ended 31 October 2023		 Unrestricted
Restricted
Total funds
funds
funds
2023
£
£
£
2,600
102,667
105,267
164,459
-
164,459
3,086
-
3,086
-
39,160
39,160
320,370
-
320,370
2,467
-
2,467
300
108,417
108,717
12,100
-
12,100
50
-
50
50,229
50,229
1,235
1,235
-
23,471
23,471
13,000
-
13,000
-
1,500
-
1,500
593,400
273,715
867,115

-22-

LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2023

4 Income from charitable activities (continued)

Rugby League Development
Grants and contracts
Services
Other income
Community
Grants and contracts
Services
Other income
Education, Health and Wellbeing
Grants and contracts
Services
Other income
Netball
Services
Other income
NCS
Grants and contracts
Heritage
Grants and contracts
Core
Other income
Total for the year ended 31 October 2022		 Unrestricted
funds
£
-
105,694
36
-
273,835
2,833
-
-
6,468
6,958
-
-
-
4,269		 Restricted
funds
£
144,295
32,973
153,985
-
139,761
-		 Total funds
2022
£
144,295
105,694
36
32,973
273,835
2,833
153,985
-
6,468
6,958
-
139,761
-
4,269
400,093 471,014 871,107

£139,734 (2022: £254,360) 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 2023		 Unrestricted
funds
£
-
30,791		 Restricted
funds
£
-
-		 Total funds
2023
£
-
**30,791 **
30,791
120,735		 -
-		 30,791
120,735
151,526 - 151,526

-23-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

5 Income from other trading activities (continued)

Archie Gordon pitch
Fundraising events
Charity total
Income from trading subsidiary
Total for the year ended 31 October 2022
6
Income from investments
Bank interest
Gift aid donation from trading subsidiary
Total for the year ended 31 October 2023
Bank interest
Gift aid donation from trading subsidiary
Total for the year ended 31 October 2022		 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
£
609
63,983		 Restricted
funds
£
-
-		 Total funds
2023
£
609
63,983
64,592 - 64,592
Unrestricted
funds
£
-
20,966		 Restricted
funds
£
-
-		 Total funds
2022
£
-
20,966
20,966 - 20,966

7 Other Income

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

-24-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

8 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
Netball
NCS
Heritage
Total restricted expenditure
Total expenditure on charitable activities for the year
ended 31 October 2023		 Staff
costs
£
291,001
356,959
22,101
117,894
-
-
-		 Admin
Total funds
costs
2023
£
£
81,943
372,944
47,804
404,763
12,261
34,362
28,460
146,354
-
-
28,983
28,983
-
-
199,451
987,406
6,664
117,337
11,014
55,510
2,147
117,750
-
1,800
-
11,651
-
-
19,825
304,048
219,276
1,291,454
787,955
110,673
44,496
115,603
1,800
11,651
-
284,223
1,072,178

-25-

LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2023

8 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 2022		 Staff
costs
£
176,776
301,207
25,593
28,753
25,374
-
-		 Admin
Total funds
costs
2022
£
£
75,778
252,554
49,723
350,930
16,670
42,263
40,000
68,753
16,670
42,044
1,746
1,746
23,734
23,734
224,321
782,024
27,746
178,465
9,670
33,956
9,939
143,758
13,370
131,232
-
-
60,725
487,411
285,046
1,269,435
557,703
150,719
24,286
133,819
117,862
-
426,686
984,389

9 Support costs

Rugby League Development
Community
Education, Health and Wellbeing
Netball
NCS
Total for the year ended 31 October 2023		 Staff
costs
£
84,562
86,625
24,750
5,109
-		 Admin
Total funds
costs
2023
£
£
41,895
126,457
42,917
129,542
12,262
37,012
-
5,109
-
-
107,387
308,433
201,046

-26-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

9 Support costs (continued)

Support costs (continued)
Rugby League Development
Community
Education, Health and Wellbeing
Netball
NCS
Total for the year ended 31 October 2022		 Staff
Admin
costs
costs
£
£
61,622
40,484
68,872
45,248
25,373
16,670
-
-
25,374
16,670
181,241
119,072		 Total funds
2022
£
102,106
114,120
42,043
-
42,044
300,313

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.

10 Governance costs

Auditor's fees
Legal and professional fees
Wages and salaries		 2023
£
12,170
270
**30,807 **		 2022
£
12,425
114
24,795
43,247 37,334

11 Expenditure on raising funds

Expenditure on raising funds
Fundraising events
Total for the year ended 31 October 2023
Fundraising events
Total for the year ended 31 October 2022		 Staff
Admin
Total funds
costs
costs
2023
£
£
£
-
5,149
5,149
-
5,149
5,149
Unrestricted funds
Staff
Admin
Total funds
costs
costs
2022
£
£
£
-
22,885
22,885
-
22,885
22,885
Unrestricted funds
-

-27-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

12 Other expenditure

Trading costs of subsidiary
Loss on disposal of fixed assets
Total for the year ended 31 October 2023
Trading costs of subsidiary
Loss on disposal of fixed assets
Total for the year ended 31 October 2022		 Staff
Admin
Total funds
costs
costs
2023
£
£
£
20,801
28,515
49,316
-
-
-
20,801
28,515
49,316
Staff
Admin
Total funds
costs
costs
2022
£
£
£
-
889
889
-
8,523
8,523
-
9,412
9,412
Unrestricted funds
Unrestricted funds

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

13 Net income/(expenditure)

2023 2022
£ £
These are stated after charging:
Auditor's remuneration - charity 12,170 12,425
Auditor's remuneration - trading subsidiary 720 700
Depreciation 23,633 24,782
Amortisation - 375
Operating lease rentals 1,246 5,040

14 Auditor’s remuneration

The auditor’s remuneration amounts to the charity audit fee of £10,800 (2022: £10,300) and the trading subsidiary audit fee of £nil (2022: £nil). Other non-audit services payable by the charity were £1,370 (2022: £2,125) and other non-audit services payable by the trading subsidiary were £720 (2022: £700).

-28-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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

Wages and salaries
Social security costs
Employer's contribution to defined contribution pension schemes
Other staff costs		 2023
2022
£
£
909,093
797,031
76,465
62,424
24,766
21,102
1,010,324
880,557
82,655
103,832
1,092,979
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:

2023
No.
Direct charitable
36
36
The number of employees whose annual remuneration was £60,000 or more was:
2023
No.
In the band £60,000 - £70,000
2		 2023
No.
36		 2022
No.
38
36 38
2022
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 £269,630 (2022: £225,696).

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 £24,766 (2022: £21,102). Contributions totalling £24,045 (2022: £8,799) were payable to the fund at the reporting date.

-29-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

16 Tangible fixed assets – Group and Charity

Archie Gordon
pitch
Cost
£
At 1 November 2022
690,183
Additions
-
Disposals
-
At 31 October 2023
690,183
Depreciation
At 1 November 2022
620,980
Charge for year
18,899
At 31 October 2023
639,879
Net Book Value
At 31 October 2023
50,304
At 31 October 2022
69,203		 Archie Gordon
pitch
Cost
£
At 1 November 2022
690,183
Additions
-
Disposals
-
At 31 October 2023
690,183
Depreciation
At 1 November 2022
620,980
Charge for year
18,899
At 31 October 2023
639,879
Net Book Value
At 31 October 2023
50,304
At 31 October 2022
69,203		 Computer
equipment
£
31,815
3,399
-
35,214
27,639
2,525		 Plant &
Machinery
£
20,756
7,654
-
28,410
19,683
2,209
21,892
6,518
1,073		 Heritage
assets
£
6,872
-
-		 Total
£
749,626
11,053
-
760,679
690,183 6,872
620,980
18,899		 -
-		 668,302
23,633
639,879 30,164 - 691,935
50,304 5,050 6,872 68,744
69,203 4,176 6,872 81,324

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 at 31 October 2023		 Total
2017
£
£
6,872
2,000		 2016
2015
£
£
750
4,122

-30-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

17 Investments – Charity

2023 2022
£ £
At 1 November 2022 and 31 October 2023 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 2023 were £61,606 (2022: £64,989). A summary of its results for the period ended 31 October 2023 and year ended 31 October 2022 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		 2023
£
120,735
(60,135)		 2022
£
80,000
(16,017)
60,600
-		 63,983
-
60,600
64,989
(63,983)		 63,983
21,972
(20,966)
61,606 64,989

18 Debtors

Trade debtors
Prepayments
Accrued income
Amounts owed by group undertakings		 2023
2022
£
£
97,929
56,821
8,351
7,281
8,057
61,853
-
-
114,337
125,955
Group		 2023
2022
£
£
97,929
56,821
8,351
7,281
8,057
61,853
-
-
114,337
125,955
Group		 2023
2022
£
£
42,795
56,821
8,351
6,285
8,057
29,853
9,249
-
68,452
92,959
Charity
114,337 125,955

-31-

LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 OCTOBER 2023

19 Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year year
Trade creditors
Other taxes and social security
Accruals
Deferred income
Amounts owed by group undertakings		 2023
2022
£
£
40,004
11,251
34,605
24,125
55,881
30,921
128,871
121,612
-
-
259,361
187,909
Group		 2023
2022
£
£
40,004
11,251
34,605
24,125
55,151
30,221
128,621
121,612
-
199
258,381
187,408
Charity
259,361 187,909

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

Deferred income
Balance at 1 November
Amount released to income
Amount deferred in the period
Balance at 31 October		 2023
2022
£
£
121,612
224,310
(118,612)
(208,120)
125,871
105,422
128,871
121,612
Group		 2023
2022
£
£
121,612
224,310
(118,612)
(208,120)
125,621
105,422
128,621
121,612
Charity
128,871 121,612

Deferred income comprises of the following:

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LEEDS RUGBY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

22 Movements in funds

At 1 November
2022
£
Unrestricted funds
General fund
384,139
Restricted funds
Rugby League Development
9,260
Community
-
Education, Health & Wellbeing
21,789
Heritage
541
NCS
8,529
Core
-
40,119
Charity total funds
424,258
Unrestricted funds
Leeds Rugby Foundation
Services Limited
64,989
Group total funds
489,247		 At 1 November
2022
£
Unrestricted funds
General fund
384,139
Restricted funds
Rugby League Development
9,260
Community
-
Education, Health & Wellbeing
21,789
Heritage
541
NCS
8,529
Core
-
40,119
Charity total funds
424,258
Unrestricted funds
Leeds Rugby Foundation
Services Limited
64,989
Group total funds
489,247		 Incoming
resources
£
925,774
102,667
39,160
108,417
-
23,471
36,000		 Resources
expended
£
(981,736)
(102,577)
(40,390)
(113,430)
-
(11,651)
(36,000)		 At 31 October
Transfers
2023
£
£
62,753
390,930
-
9,350
1,230
-
-
16,776
-
541
-
20,349
-
-
1,230
47,016
63,983
437,946
(63,983)
61,606
-
499,552
40,119 309,715 (304,048)
424,258
64,989		 1,235,489
120,735		 (1,285,784)
(60,135)
489,247 1,356,224 (1,345,919)

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

Rugby League Development

RFL continue to support the Foundation to deliver and develop our specific areas of engagement in rugby league, specifically women and girls, wheelchair, PDRL/LDSL and growth areas outside of Leeds. Our long term relationship with Aspire sustains our delivery specific to helping those adults with learning difficulties to access physical activity.

Community

Leeds City Ward Councillors and their respective area committees continue to support the Foundation’s delivery of 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 deliver more personal development camps year on year.

Education, Health and Wellbeing

Education

Ongoing funding enables us to continue delivering our offender rehabilitation/management intervention work.

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 to maintain healthy living lifestyles. We also continue to receive funding from Rugby League Cares, to deliver mental health and resilience training to children and adults. We received specific funding from the NHS and Parkinsons UK to support our work with those specific conditions.

-33-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

22 Movements in funds (continued)

Heritage

Funding was received to support a national museum rugby league proposal/bid.

NCS

The NCS programme was delivered for the final year in the Foundation with a focus on high impact/short term intervention to raise confidence, self-esteem and reduce the risk of NEET.

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
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)

-34-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

23
Analysis of net assets between funds
Fund balances at 31 October 2023 are represented by:
Tangible fixed assets
Current assets
Current liabilities
Creditors due in more than one year
Fund balances at 31 October 2022 are represented by:
Tangible fixed assets
Current assets
Current liabilities
Creditors due in more than one year		 Unrestricted
funds
£
68,744
564,104
(180,312)
-		 Restricted
2023
funds
Total
£
£
-
68,744
126,065
690,169
(79,049)
(259,361)
-
-
47,016
499,552
Restricted
2022
funds
Total
£
£
-
81,324
123,158
595,832
(83,039)
(187,909)
-
-
40,119
489,247
452,536
Unrestricted
funds
£
81,324
472,674
(104,870)
-
449,128

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		 2023
2022
£
£
-
4,695
-
-
-
4,695
Group		 2023
2022
£
£
-
4,695
-
-
-
4,695
Group		 2023
2022
£
£
-
4,695
-
-
-
4,695
Charity
- 4,695

-35-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

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 £100 (2022: £478).

During the period Leeds Rugby Foundation received donations under gift aid of £63,983 (2022: £20,966) from its subsidiary Leeds Rugby Foundation Services Limited. Other income of £10,819 (2022: £15,128) was received from Leeds Rugby Foundation Services Limited. On 31 October 2023 £9,249 was due to the charity from Leeds Rugby Foundation Services Limited (2022: £199 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, J D P Jones-Buchanan and S M Ward are directors. Other income of £55,279 (2022: £26,400) 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 £16,612 (2022: £59,441) for other charges.

During the period, Leeds Cricket, Football and Athletic Company Limited charged the subsidiary £714 (2022: £nil). The subsidiary received income of £83,359 (2022: £38,400) from Leeds Cricket, Football and Athletic Company Limited.

At the period end the charity owed £nil (2022: £nil) and the subsidiary company owed £nil (2022: £nil) to Leeds Cricket, Football and Athletic Company Limited. At the period end, Leeds Cricket, Football and Athletic Company Limited owed £nil (2022: £nil) to the charity and owed £55,135 (2022: £38,400) to the subsidiary.

G Hetherington and M Pexton are directors. During the period Leeds Rhinos Netball charged Leeds Rugby Foundation £305 (2022: £48,000). At the period end the charity owed Leeds Rhinos Netball £nil (2022: £nil).

During the period RAM Films Limited is a company of which trustee J D P Jones-Buchanan is a director. During the period RAM Films Limited charged Leeds Rugby Foundation £6,135 (2022: £nil). At the period end the charity owed RAM Films Limited £6,000 (2022: £nil).

During the period Rugby League Cares is a company of which trustee G Hetherington is a director. During the period Rugby League Cares was charged £45,520 (2022: £20,488) by Leeds Rugby Foundation and Rugby League Cares charged Leeds Rugby Foundation £1,250 (2022: £nil). At the period end Rugby League Cares owed the charity £6,574 (2022: £nil) and the charity owed Rugby League Cares £1,250 (2022: £nil).

During the period Chadwick Lawrence LLP is a partnership of which trustee N Wilson is a managing partner. During the period Chadwick Lawrence LLP was charged £667 (2022: £350) by Leeds Rugby Foundation. During the period Chadwick Lawrence LLP charged Leeds Rugby Foundation £1,781 (2022: £nil). At the period end, Chadwick Lawrence LLP owed the charity £nil (2022: £nil) and the charity owed Chadwick Lawrence LLP £350 (2022: £nil).

During the period Chadwick Lawrence LLP was charged £7,200 (2022: £7,200) by Leeds Rugby Foundation Services. At the period end Chadwick Lawrence LLP owed the subsidiary company £nil (2022: £nil).

There are no other related party transactions.

-36-

LEEDS RUGBY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 OCTOBER 2023

26 Financial instruments

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

2023
2022
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
97,929
56,821
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
575,832
469,877
673,761
526,698
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(40,004)
(11,251)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
-
(40,004)
(11,251)
Group		 2023
2022
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
97,929
56,821
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
575,832
469,877
673,761
526,698
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(40,004)
(11,251)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
-
(40,004)
(11,251)
Group		 2023
2022
£
£
Financial assets
Debt instruments measured at amortised cost:
Trade debtors (note 18)
97,929
56,821
Amounts owed by group undertakings (note
18)
-
-
Cash at bank and in hand
575,832
469,877
673,761
526,698
Equity instruments measured at cost less
impairment:
Fixed asset unlisted investments (note 17)
-
-
-
-
Financial liabilities
Measured at amortised cost:
Trade creditors (note 19)
(40,004)
(11,251)
Amounts owed to related companies (note
19)
-
-
Other creditors (note 19)
-
-
(40,004)
(11,251)
Group		 2023
2022
£
£
42,795
56,821
9,249
-
559,130
437,382
611,174
494,203
1
1
1
1
(40,004)
(11,251)
-
(199)
-
-
(40,004)
(11,450)
Charity		 2023
2022
£
£
42,795
56,821
9,249
-
559,130
437,382
611,174
494,203
1
1
1
1
(40,004)
(11,251)
-
(199)
-
-
(40,004)
(11,450)
Charity
673,761 526,698 494,203
- - 1 1
- - 1 1
(40,004)
-
-		 (11,251)
-
-		 (40,004)
-
-		 (11,251)
(199)
-
(40,004) (11,251) (40,004) (11,450)

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 2023 there were twelve (2022: twelve) members.

-37-