Charlty number.. 1112912
THE REGATTA FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

THE REGATTA FOUNDATION
CONTENTS
Page
Referenoe and administrative d8tails of the Charityi its Trustees and advlser8
Trusteos, report
Indepèndent examlnerfs report
statement of financlal actlvltles
Balance sheet
Statement of cash flows
Notes to tho flnanclal statements
10-18

THE REGATTA FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees
K J Black
J Black Ims)
G J Rickard
Charity registered
number
1112912
Principal offic8
Ri501 House
Mercury Way, Dumplington
Urmston
Manch8Ster
M417RR
Accountants
Crowe U.K. LLP
statutory Auditor
3rd floor
st George's House
56 Peler Stre8t
Manchester
M2 3NQ
Bankers
HSBC
11 Church Street
Warrington
Cheshire
WA12EY
Page 1

THE REGATTA FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Trusteas present their annual report together with the financial statements of the Charity for the year from 6
April 2023 to 5 April 2024.
ObJectlvo8 and actlvltlos
a. Polleies and objectives
The objectlV8s of the charity state..
"The Trustees shall hold th8 capital and income of the trust fund upon trust to apply the capital, in the making of
grants and donations at such time or lim8s in such a manner to, or for the benefit of, such exclusively chgritable
objects and purposes in any part of the world as the trustees may in their absolute discretlon think fit.
In setting Ihe objectives and planning for activities, thè Trustees have given due consideratlon to the general
guidanc8 published by the charity commission relatlng to public benefit.
b. Actlvltles undertaken to achiev8 objectives
The Truslee5 meet these aims by making grants to charilable institutions as set out in note 4 to the accounts.
Achievements and performance
Revlew of a¢tlvltles
Income for the year was £41,454 (2023.. £7,893) and total expenses were £383,5E312023: £312.7591. This
produced a deficit for the year of £342,109 (2023.. deficit of £304,865)-
During th8 y8ar grants of £384,980 {2023- £306,971) were made to InstSlutlons. No grants were mada to
IndlvSduals (2023: NIL). Unrestricted fijnds at the yoar gnd were £789,643 (2023: £1,131,752).
b. Fundraising activities and income generation
Th8 charity had no fundraising activities requiring disclosure under S162A of the Charities Act 2011 .
Flnanclal revlew
. Going concern
Aftgr making appropriat8 enquires, the trustees have a reasonabla expectation that the ch8rity has adequate
resourcas to ¢ontinu8 in operational existence for the foreseeable future, For this reason, they contlnue to adopt
the going concern basis In preparing the financial statements. The Trust has considerable unr8Stricted funds
carried forward of £789,643 (2023: £1,131,752> and has flexibility with regards lo th& grants they give to
organisalions.
Page 2

THE REGATTA FOUNDATION
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
b. Reserves policy
Th8 trustees consider the the reserves of the Charity should be sufficient to guarantee the long term ftjlure of tha
Charlty. Free reserves at 5 April 2024 amount to £789,643 12023: £1,131,752). Tha charity has a target free
reserves level of £nil as it has no financial commitments other than tha 8xt8nl lo which it awards granl funding.
The trustees plan to utilise the free r&s8rv8s as of date over the next 2 years lo bring in line wlth Ihe reserve
policy. The funds are Iransfarred from Regatta Ltd and distributed as and when donations ar8 mad8.
structuré, govérnance and management
a. Constitutlon
The Regatta Foundation is a registered charity, number 1112912, and is constituted under a Trust dead datad 29
November 2005. The charity was registered as a charlty with the Charily Commission Dn 3 February 2006.
b. Methods of appointment or election of Trust8es
The management of the Charlty is the responsibility of th8 Trustees who are elected and COaOPted under the
tgrms of the Trust deed.
Plans for future periods
The trust plans to continue to make grants to charitable institutions for the foreseeable future.
statement of Trustees. responsibiliti8s
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom G8nerally Accepted Accounting
Practice).
The law appllcable to charlties in England & Wales requires the Trus18es to prepare financial statements for
each financial which givE+ a tru8 and fair view of the st8le of 8ffairs of Ihe Charily and of its incoming resources
and application of resources, including its income and expenditure, for that period. Sn preparing these financial
statements, the Trustees are required lo:
S818ct suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimate5 that are reasonablg and prudent.,
state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial ststemonts,,
prepare Ihe financial statements on the going CDncem basis unless il is inappropriate to presume that the
Charity will contlnue In buslness.
The Trustees ar8 r8sponsible for keeping adequate accounting records thal are sufficient to show and explain
the Charity's transactions and disclose with re8sonable accuracy at any time the financial position of the Charity
and enable them to ensure that the flnancial slatemenls comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed, They are also responsible for
safeguarding the assets of the Charity and hence for tsking reasonable steps for the preventlon and detection of
fraud and other irregularities.
Page 3

THE REGAThA FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Approv
f the board of Trustees and signed on their behalf by.
Date.. 4 February 2025
Page 4

THE REGATTA FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Independent examlner's report to the Trustees of The Regatta Foundatlon ('the Charlty'l
I report to tha charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024.
Responsibilltles and basls of report
As the Trustees of the Chan'ty you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the 2011 Act'l.
I raport in r8spect of my examination of the Charity's accounts carried out und8r section 145 of the 2011 Act and
In carrying out my examination I have followed the applicable Directions given by the Charlty Commission und6r
sectlon 145(5}{b} of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact thal the Charity has prepared th8 accounts in accordance with Accounting and
Reporting by Charities- Statement of Recommended Praclice appllcable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in
preference to the Accounting and Reporting by Chariti8s: Statement of Recommended PractlC8 issued on 1 April
2005 which is raferr8d to in the 8Xtant regulations but has been withdrawn.
l understand that this has been dong in ordar for thg accounts to provid8 a true and fair view in accordance with
the Generally Accepted Accounling Practic8 effsctiv6 for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confimi that no matters have come to my alt&ntion in connection with the
6xamination giving me cause to believe that in any material respect:
accounting records were nat kept in respect of the Charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those r8cords' or
the accounls do not comply wilh the applicable requirements conceming the form and content of
accounts set out In the Charltles {AcGounts and Reports) Regulations 2008 othar than any requirement
that the accounts give a 'lrue and fair, view which is not a matter considored as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounls lo bg reachad.
Page 5

THE REGATTA FOUNDATION
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
This report is made solely to th8 Charivs Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undartaken so that I might stale to the Charitys
Trustees those matters l am required to state to Ih8m In an Independent examiner's report and for no other
purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the
Charity and Ihe Charills Trustees as a body, for my work or for this report.
Signed,.
Dated,,
5th February 2025
Vlcky Szulist
Crow6 U.K. LLP
3rd floor
st George's House
56 Peter Street
Manchester
M2 3NQ
Page 6

THE REGATTA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrostrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Other incorne
41,454
41,454
7, 893
Total income
41,454
41,454
7,893
Expendilur• on,.
Charitable activities
383,563
383,563
312,759
Total expendlture
383,563
383,563
312, 759
N8t movement in funds
1342,1Q91
(342,109)
(304,866)
Reconclllatlon of funds:
Total funds brought fotward
Nel movement in funds
1,131,752
(342,109)
1,131,752
(342,109)
1,436,618
(304,866)
Total funds carried forward
789,643
789,643
1,131,752
The Staternent of financial activities includes all gains and losses recognised in thg year.
Thg notgs on pages 10 to 18 form part of thes8 financial statements.
Page 7

THE REGAThA FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Note
Current assets
Debtors
Cash al bank and in hand
1,007,893
134, 399
791,643
791.643
1, 142.292
Creditors.. amounts falling due within one
year
(2,000)
(10.540)
Net current assets
789,643
1,131,752
Total assets less current liabilities
789,643
1,131,752
Net assets excluding pension asset
789,643
1,131,752
Total net assets
789.643
t.131,752
Charity funds
Restricted funds
Unrestricted funds
789,643
1,131,752
Total funds
789,643
1, 131,752
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Date.. 4 February 2025
The notes on pages 10 to 18 form part of these financial slalements.
Page 8

THE REGATTA FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 5 APRIL 2024
2024
2023
Cash flows from operatlng actlvltles
Net cash used in Dperaling activities
(392,103) (304,126)
Cash flows from Investing activltlas
Bank interest received
10,926
N8t cash provided by Investlng actlvltles
10,926
Cash flows from financing activities
Loan lo related party
Repayments of Loan
Interest received
(1,007,895)
1,007,893
30,528
Net cash provlded byl(used In) flnancing activitles
1,038,421
(1,007,893)
Change In cash and cash 8quivalents in the yèar
Cash and cash equivalents at the beginning of the year
657,244 (1,312,019)
134,399
1,446,418
Cash and cash equlvalenls at the end of the year
791,643
134,399
The notes on paggs 10 lo 18 form parl of these financial statements
Page 9

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting pollcles
1.1 Basls of preparatlon of financial statements
The flnancial statements hav8 b88n prepared in accordance wlth the Charities SORP (FRS 1021
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariti8S
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) (effective 1 January 2019}, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Charities Acl 2011 .
The financial slatements have been prepared to give a 'true and fairf vi8w and have departed from
the Charities {AcGOUnts and Reports) Regulations 2008 only to the exlent required to provide a 'true
and fair, vi8w. This departure has involved following the Charities SORP (FRS 102} published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of R8commended
Practlce effective from 1 April 2005 which ha8 since been withdrawn.
The Regatta Foundatlon meets the definition of a publlc benefit enlity und@r FRS 102. Ass8ls and
liabilities are initlally recognised at historical cost or transaction value unl8SS Otherwise staled In the
relevant accounting policy.
1.2 Going concern
After making appropriat8 enquiri8s, the trustees have a reasonable expectation that the charily has
adequate resources to continue in operational existence for the foreseeable future. For this reason
they continue lo adopt the going ¢oncern basis in preparing the financial statements.
1.3 Income
All income is recognlsed once the Gharity has 8ntit18ment lo the incom8, It is probable that the
Incom8 will be r8ceived and the amount of income receivable can be measured reliably.
Olher Income is recognised in the period in which it is recaivable and to Ihe 8Xtent the goods have
been provided or on completion of the service.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third party, il is probable that a transfer of economic benefits will be requir8d in settlemant and
the amount of the obllgation can be measurgd reliably. Expenditure is classified by activity.
The costs of each activity are made up of tha total of direct costs and shared costs, including support
costs involved in undertaking each activity, Direct costs attributable to a slngle activity are allocat6d
directly lo that activity. Shared costs which contribute to more than one aotivily and support costs
which are not attributable to a single activity ara apportioned between those activities on a basis
consistenl with th8 use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectivgs, as we11 as any 8ssociatod support costs.
Grants payable are charged in the year when the offer is made excapt in thosg cases whare th6 offer
is conditional, such grants being recognisad as &xp8nditure when th8 conditions attachlng are
fulfilled. Grants offered subject to candilions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
Page 10

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng policies (continued)
1.4 Expendlture Icontlnued)
All expenditure is inclusive of irrecoverable VAT.
1.5 Debtors
Trade and oth8r debtors are recognised at the settlement amount afler any trade discount off&rad.
Prepayments are valued at the amount prapaid n8t of any trad@ discounts dua.
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-t8rrn highly liquid investm6nts with a short maturity
of three months or less frotn the dalg of acquisition or opening of the deposit or similar account,
1.7 Llabllltles and provisions
Liabilities are recognised when Ihere is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlemant, and the amount
of the settlement can be estimated reliably.
Liabllities are recogni5ed at the amount that the Charlty anticipates it will pay to settle the dabl or the
amount it has received as advanced payments for the goods or s9rvic8S it must provide.
Provisions are measLJf8d 8t the b8St 8Stimate of the amounts required to settle the oblig8tian. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to th8 liability The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost,
1.8 Financial Instruments
The Charity only has financial assets and financial liabililies of a kind that qualify as basic financlal
in3trum8nts. Basic financial instruments are initially recognised at transaction value and subsequantly
measured at their settlement value with the exceptlon of bank loans which are subsequently
measured at amortised cost using the aff@cliv8 inleresl method.
1.9 Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
pury)oses.
1.10 Crltlcal accounting estimates and ar8as of judgment
Estimates and judgments are continually evaluated and are based on historical experienc8 and other
factors, including éxpectations of future events that are beli8V8d to be reasonable under the
cirGumstan¢es.
Critical accounting estlmates and assumplions:
The charity has not made any estlmates and assumptions concarning the future.
Page11

THE REGArrA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
other In¢omlng resources
Unrestricted
funds
2024
Total
funds
2024
Other incomo
41.454
41,454
Unrestricted
fvnds
2023
Total
funds
2023
Other income
7,893
7, 893
Analysi5 of grants
Grants to
Institutions
2024
Total
funds
2024
Grants, Donations
384,980
384,980
Grants to
Instittjtions
2023
Total
funLIs
2023
Grants, Donations
306,971
306,971
Page 12

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Analysls of grants (contlnued)
The Charily has made the following grants to institutions durtng the year.,
2024
2023
Name of Instllutlon
Barnet Youth Zonelunitss
Onside Youth Zones
Manchester University
Conservation Collective
CSJ
The Janet Roonay HPB Net Cancer F8llowship
100,000
25.000
75,000
40,000
20,000
20,000
125, 000
25,009
25,000
19,000
20,QOO
280,000
214,000
Other grants to inslltulions
104,980
92,971
384,980
306,971
Analysis of expenditur8 by activities
Grant
funding of
activlties
2024
Support
costs
2024
Total
funds
2024
Diract costs
384,980
{1,417}
383,563
Grant
fundffng ol
activities
2023
Support
costs
2923
Tot81
funds
2023
Dlrect costs
306,971
5, 788
312,759
Page 13

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Independant examlner's remuneratlon
Fees payable to the Charity's independent examiner for the independent examinallon of the Charity's
annual accounts were £1,47012023: £1,400).
Staff cost
During the year, the Trust had Incured £Nil (2023.. £Nil} staff costs.
The averag8 numb@r of staff during the year was Nil (2023:Nil}.
Trustees. remuneratlon and expenses
During lh8 y8ar, no Trustees received any remuneration or other benefits (2023 - £nil).
Durfng the year ended 5 April 2024, no Trusl8e expens8s have been incurred (2023- £NIL).
Debtors
2024
2023
Due wlthln one year
Other debtors
1,007,893
t,007,893
Cr&dltors: Amounts falllng due wlthin one year
2024
2023
Accruals
2,000
10,540
Page 14

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
10.
Flnanclal Instruments
2024
2023
Financial assets
Financial ass@ts measured al fair value at amortised cost
791,643
1,142,292
2024
2023
Financial liabilitles
Financial liabilities measured at falr value at amortised cost
2,000
19,540
Financial assets measured at amortised cost comprise of cash al bank and debtors. Financial liabilities
measured at amortised cost comprise accruals.
Page 15

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
11. statement of funds
statement of funds - current y8ar
Balance at6
April 2023
Balance al 5
April 2024
Income Expondlture
Unrestrl¢ted fund5
General Funds- 811 funds
1,131,752
41,454
{383,5631
789,643
Statement of funds . prlor year
Balance al
6 April 2022
Balancg al
Income Exp8nditure 5 April 2023
Unrestrictsd funds
General Funds 811 funds
1,436,618
7,893
(312,759) I,t31,752
Page 16

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
12. Summary offunds
Summary of funds - current year
Balanco at 6
April 2023
Balance al 5
April 2024
Income Expenditur•
G&neral funds
1,131,752
41,454
1383,563)
789,643
Summary of funds - prior year
BalanGe at
6 April 2022
Balance al
Incom9 Exp6ndifur6 5 April 2023
General funds
1,436,618
7,893
(312, 759)
1. 137,752
13. Analysis of net ass8t8 b8tW8en funds
Analysis of nel assets between funds - current poriod
Unrestrlcted
funds
2024
Total
funds
2024
Current assets
Credltors due wlthin one year
791,643
12,000>
791,643
(2,000)
Toial
789,643
789,643
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Current assets
Creditors due within one year
1,142,292
(10,540)
1,142,292
(10,540)
Total
t,131,752
1, 131,752
Page 17

THE REGATTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
14. Reconclllatlon of net movement In funds to net cash flow from opèratlng actlvltles
2024
2023
Net 6xpenditure for the period las per Statamènt of Financial Activltles)
1342,109) (304,866)
Adju8tm8nts for:
Interest racaived on Loan
Bank interest recelved
Increasel(decrease) in creditors
130,528)
110,926)
(8,540)
740
Net cash used in operating actlvltles
(392,103) (304,126)
15. Analysis of cash and cash equivalents
2024
2023
Cash in hand
791,643
134,399
Total Cash and cash equlvalents
791,643
134,399
16. Analysis of changes in net debt
At 6 April
2023 Cash flows
At 5April
2024
Cash at bank and In hand
134,399
657,244
791,643
134,399
657,244
791,843
17. Related party transactions
During the year, grants of £tOO,ODO (2023: £125,000) were awarded to Barnet Youth Zone, a Charity for
which Mr K Black was a trustee until his resignation on 5th February 2024.
During th8 prior year, a loan worth £1,007,893 was awarded to Regatta Limited, a related party of the
Charity. Thls was fully repaid in the year.
Page 18