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2020-11-30-accounts

Company Registration Number 05843571

Charity Registration Number

1119133

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

CONTENTS Page
Report of the Directors and Trustees 2
1
Reference and administrative details		 2
2
Structure, governance and management		 3
3
Objectives and activities		 3
4
Achievements and performance		 3
5
Public benefit		 6
6
Financial review		 6
7
Future plans		 7
8
Trustee indemnity insurance		 8
9
Trustees' responsibilities		 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13

Page 1

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

Directors' Report for the purposes of section 417 of the Companies Act 2006 and Trustees' Report for the purposes of part 8 of the Charities Act 2011

The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the financial statements for the year ended 30 November 2020. 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.

1 REFERENCE AND ADMINISTRATIVE DETAILS

Charity Name: Salford Red Devils Foundation
Charity Registration: 1119133
Company Registration: 5843571
Registered Office: Eccles Sixth Form College
Chatsworth Road
Eccles
Manchester
M30 9FJ
Web-site: www.salfordreddevilsfoundation.co.uk
Company Secretary: Taylored Business Secretaries Limited
Bankers: Co-operative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6WT
Independent Examiner: M G Garrett
Kay Johnson Gee Limited
1 City Road East
Manchester
M15 4PN

Directors and Trustees of the charity who served during the year and to the date of this report were:

A P A Snape M Pearson J Lowndes A Latief M Burke P A King A Morley (appointed 10 December 2020) G Tapp (appointed 11 December 2020)

Page 2

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

2 STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Salford Red Devils Foundation ("SRDF") is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 31 May 2006 (revised 20 May 2015). It is a charity registered with the Charity Commission on 9 May 2007.

Recruitment and appointment of trustees

The subscribers to the Memorandum are the first trustees of the charity. Membership of the charity is open to trustees of the charity and each trustee will automatically become a member on his or her appointment. Further trustees are elected by the members. The number of trustees shall not be less than three but shall not be subject to a maximum. At each Annual General Meeting 1/3 of the trustees are subject to retirement by rotation and can be reappointed by the other trustees if he so wishes.

Related Parties

The charity is supported by Salford City Reds (2013) Limited ("the Club"), in that it has the facility to utilise the Salford Red Devils brand.

3 OBJECTIVES AND ACTIVITIES

The objectives of the charity are for the benefit of the public generally and, in particular, the inhabitants of Salford, Greater Manchester and Cheshire and their surrounding areas;

Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect our aims and to provide public benefit. The trustees are more than satisfied that they do.

Further details on the Foundation's activities can be found on the web-site at :

www.salfordreddevilsfoundation.co.uk

4 ACHIEVEMENTS AND PERFORMANCE

Review of the year

2020 has been a year unlike any other in living memory and has brought unexpected challenges to all organisations. Whilst the Salford Red Devils Foundation (SRDF) senior management and Trustees were able to work with partners, grant funders, and commissioners to mitigate paused physical delivery (primarily through adopting virtual delivery means) to protect income at the start of the pandemic, like many third sector organisations, loss of ‘unrestricted income’ through planned fundraising has challenged the Foundation’s growth objectives for the coming years. The Foundation remains in a fully solvent position through prudent financial management and utilising the government’s coronavirus job retention scheme, and no compulsory redundancies have been made.

Page 3

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

4 ACHIEVEMENTS AND PERFORMANCE (continued)

Review of the year (continued)

Between September and December 2020, the Foundation Director led a ‘bounce back exercise’ with staff, partners, public sector bodies and participants. The task was to explore new development opportunities that would support communities to rebuild at a time of need, directly engage those most vulnerable, and derive income opportunities to support the Foundation’s long term sustainability. Amongst areas identified for progression was enhancing the Foundation’s work with children and young people through progressing new trading relationships specifically with primary schools in Salford that extended away from core sport and physical education sessions.

Salford Red Devils Foundation (SRDF) has settled into its new home at Eccles Sixth Form College (ESFC) which has seen a smooth transition with all staff now fully integrated into the new base. ESFC is a highly rated educational facility that, as SRDF’s education partner has seen an improvement in the range of courses that can be delivered. SRDF and ESFC have been successfully accredited as a Dual Development Academy which is just one of 4 nationwide. Recruitment for SRDF’s education programmes has seen a slight increase despite the lack of face-to-face activities throughout long periods of 2020.

SRDF has worked hard to engage the future sporting stars through its Academy programme which has an admirable record in nurturing its youth. Numerous students have been selected for representative honours which attests to the calibre of player being attracted to this outstanding programme .With a new partnership formed with Wales RL there is potential to see additional opportunities for players to develop. The pathway is now Dual and there has been strides taken in the development of the female pathway and despite restrictions SRDF will be looking forward to seeing a ladies team develop in 2021/22.

Head of Youth Danny Barton has been at the forefront of running the development pathway and saw some success with the newly developed Reserves team. Sadly, this league competition was suspended and has now been postponed till 2022. However, two of our players have progressed through our pathway and have earned professional contracts and seen first team action. This is a fantastic achievement and clearly highlights the pathway to success at Salford Red Devils. The club has recently employed Paul Rowley as Head of Rugby Transmission, Talent & Pathways showing a renewed focus on youth development. This is exciting times and SRDF will be integral to ensuring the outcomes of the renewed pathways are achieved.

SRDF’s continues to develop and refine its outstanding school delivery programme which has been a growth area and the organization is established as a premier supply of school sports delivery across Greater Manchester. The Rugby League World Cup is scheduled to take place in the UK in autumn 2021 and this gives a major opportunity to reach out to additional areas within Greater Manchester that do not currently have rugby league delivery with associated new funding available. RLWC2021 has aims to increase participation and develop new clubs and SRD is integral to these plans with Stockport having a particular focus as a new area for SRDF to develop delivery plans. The RLWC2021 Legacy programme has allowed us to source small funding to provide blocks of activity for free to areas and organisations that have previously missed out on rugby league. New provision always allows development of additional programmes that in the main lead to specialised delivery which is a chargeable provision. SRDF has excellent relationships within the GM community which sees us continue to deliver high quality sport, karate, wheelchair rugby, mental fitness and ‘animalates’ sessions.

As an organisation, we take pride in our approach of empowering children and young people to participate in designing and delivering our projects. Whilst we recognise the importance of working with statutory, third sector, and private industry partners to identify need, understand available evidence, and facilitate integrated delivery systems, our belief is that creating constructive opportunities for children and young people to tell us what they want to participate in, why, when and how, is of most importance. Throughout the Pandemic SRDF has worked tirelessly to ensure that we can continue to service our community. Where possible, COVID-19 Safe activity sessions have been run with the focus on engaging with those most vulnerable and negatively affected. SRDF have been prominent in local initiatives where online activity sessions have been created as a free resource to be used by schools and the local community.

Page 4

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

4 ACHIEVEMENTS AND PERFORMANCE (continued)

Review of the year (continued)

There has been much collaboration with Salford City Council which has seen SRDF active in the emergency response and regularly delivering food, medication and other essentials as part of the “spirit of Salford”. Additional links were made with the Lighthouse Church to help provide food and care packages for distribution to the homeless in partnership with Manchester City Council.

The SRDF Health department has continued to offer its Offload Mental Health programme which was adapted quickly to an online platform early in the year to ensure that our participants were fully supported throughout lockdown 1. This is also reflected in the Captain Confidence programme which again has been adapted to see elements delivered online. Schools have been able to access resources and physical sessions delivered online SRDF has continued to develop its health offer and is hoping to be commissioned to deliver an innovative community programme that builds provision for families from birth to adulthood in 2020. The male focus of Offload fits into the Salford Suicide prevention strategy which is key to ensuring that the maximum number of participants can benefit from the programme, especially in such uncertain times. Although this year has been tough for all, we have found that the programme has been well received and engagement has been high. We have seen additional demand and are proposing (subject to funding) to increase our capacity through additional sessions. These would include stand-alone online content and a targeted over 50's session (We have found that loneliness and isolation has become an even bigger issue throughout the Pandemic and our research highlights men over 50 as being at a much higher risk). We are also looking to partner with a local organisation to introduce a new weekly mental and physical fitness class. This class would be open to all as we find that after the initial session there is usually a need to engage with participant’s families in some form to help maximise the impact that we are making. Therefore females and young people would be actively encouraged to attend with our participants. We would also not exclude anyone from attending our programmes but there is always targeted marketing for specific groups.

SRDF is looking towards the programme's sustainability and as part of this process we are making partnerships to hopefully allow the programme to become self-funding. We feel that with this increased provision and participant numbers we could ultimately open up additional revenue streams. Opportunities such as sponsorship and the potential for the Foundation to brand the delivery programme to sell commercially to businesses could fund the communitybased sessions.

The ‘Sky Try’ project again underpins the majority of SRDF’s mass participation programme as it continues into the final year of its existence, again funded to its maximum figure. The organisation continues to plan for the end of this programme by creating additional commercial revenues and looking at additional funding streams independently and in collaboration with The RFL that can in part replace the Sky Try funds.

The club has again been successful in making an appearance at Wembley for its first challenge cup final appearance for 50 years. Whilst this has created a huge feel-good factor across the community there was disappointment in that crowds were not able to attend this game or indeed most of the season. It is imperative that both club and foundation can harness this success and build upon it for the coming years by increasing youngsters playing the game and ensuring that at the earliest opportunity we can get them to watch a live game. Foundation Director Neil Blackburn continues to work closely with the Club and their board to ensure that aims and objectives are closely aligned to ensure that the community is best served by the whole organisation.

SRDF is always open to enhancing its board of trustees and is open to welcoming new individuals on board that have a passion for the club and a wealth of skill and experience to share. SRDF is pleased to be able to confirm that there have been two new additions to the Board of Trustees with prominent local ex Councillor George Tapp and rugby league legend Adrian Morley joining us. Both will bring expertise and enthusiasm to the board with Adrian Morley having a huge impact in the community already as one of the most recognisable rugby league players worldwide.

Page 5

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

4 ACHIEVEMENTS AND PERFORMANCE (continued)

Review of the year (continued)

Recognising the new challenges young people face, we are committed to going further in creating a new ‘Young Trustee’ group within our governance arrangements that champions our work with children and young people in Salford and the surrounding region. This group will be made up of young people from our projects who will take part in a range of activity that helps inform our future provision to ensure we retain a focus on needs led delivery. Depending on how government restrictions progress, this activity may be done virtually, and should this be the case, we will work with the Manchester Safeguarding Partnership to ensure we approach this in a safe and secure way.

Although this year has been extremely challenging due to the COVID-19 Pandemic and its ongoing uncertainty that will unfortunately continue to have effects in the next financial year, SRDF has been able to adapt and continue to serve its community and stakeholders. Although may factors must be considered SRDF has been able to ensure a stable financial base that will allow the organisation to continue to develop and continue to be one of the local area's premier deliverers in the community.

5 PUBLIC BENEFIT

The Trustees of SRDF believe they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

SRDF exists to meet local needs by providing a range of sport, health and educated based activities for the benefit of all across Salford, Greater Manchester and beyond, regardless of background and ability. SRDF strongly believes it operates to provide more than just a positive experience when engaging with the Foundation. The benefits it regularly achieves are more significant and it instead strives to achieve a real difference to peoples’ lives by helping them back to work, stop smoking, lose weight, become more aware of the dangers of cancer, engage in volunteer opportunities, learn new skills such as driving and much more.

6 FINANCIAL REVIEW

Financial review

As we anticipated last year, the expected improvement in our financial position did materialise following the large reduction in our cost base, resulting from the move from the AJ Bell Stadium to Eccles College.

With COVID-19 significantly reducing our work in schools, the furlough scheme helped us maintain jobs and avoid compulsory redundancies.

Cash levels were healthy at the year end but we are not complacent and know the importance of finding funding alternatives to replace Sky Try which will end in the current year.

Reserves Policy

The Foundation’s policy is to accumulate free reserves in proportion to the risk associated with one or more income streams failing to deliver to profile. The free reserves target equates to three months operational costs, which are now considerably smaller than before and are predominantly wage costs.

The board of Trustees has judged this amount to be sufficient to enable the Foundation to effectively manage its affairs.

The Trustees are confident that the level of free reserves will continue to increase.

Surpluses generated in excess of the reserves target will be reinvested in activities which accord with the Foundation’s objectives.

Page 6

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

7 FUTURE PLANS

Although this year has been extremely challenging due to the COVID-19 Pandemic and its ongoing uncertainty that will unfortunately continue to have effects in the next financial year, SRDF has been able to adapt and continue to serve its community and stakeholders. Although may factors must be considered SRDF has been able to ensure a stable financial base that will allow the organisation to continue to develop and continue to be one of the local area's premier deliverers in the community.

In the current climate there are many pots of funding that have been made available to help the Covid 19 recovery. SRDF will look to access many of these that will enable the immediate deliveries to bounce back stronger when we can return to full activities. These bids are mainly short term focused and it is important to also look at larger more long-term funds. With the loss of SkyTry it is imperative for SRDF to realign its focus and be able to continue delivering outstanding programmes in the long term.

SRDF will actively look to partner with other third sector organisations to ensure that funders are offered the best possible outcomes for their money and it is believed that partnership work and collaboration is the best way to successfully source new large-scale funding. New partnerships have been formed with Foundation 92 which has seen some innovative new delivery in Salford. It is planned that this partnership will be developed further and lead to some largescale funding that will provide activities across Greater Manchester.

SRDF is looking towards the Offloads programme sustainability and as part of this process we are making partnerships to hopefully allow the programme to become self-funding. We feel that with increasing provision and participant numbers we could ultimately open up additional revenue streams. Opportunities such as sponsorship and the potential for the Foundation to brand the delivery programme to sell commercially to businesses could fund the community based sessions. Versions of Offload delivery will be integrated into most of the new and developing programmes as this will be an area that needs to be invested in as we all look to recover from the pandemic emotionally and physically.

SRDF will consolidate its position and continue to build up new programmes and funded bids to enhance current delivery while focusing on strengths. The outstanding schools programme will continue to grow with new inspiration acaedmy at the forefront of the new delivery model that will be sold into education institutions along with activities including but not limited to karate, dance and boxing.

Recognising the new challenges young people face, we are committed to going further in creating a new ‘Young Trustee’ group within our governance arrangements that champions our work with children and young people in Salford and the surrounding region. This group will be made up of young people from our projects who will take part in a range of activity that helps inform our future provision to ensure we retain a focus on needs led delivery. Depending on how government restrictions progress, this activity may be done virtually, and should this be the case, we will work with the Manchester Safeguarding Partnership to ensure we approach this in a safe and secure way.

SRDF will use the Rugby League World Cup 2021 to help spread the Rugby League delivery and engagement. While we will continue delivering a quality offer for players, coaches and volunteers across Salford, Manchester, Trafford, Bolton and Bury, SRDF will look to expand deliveries into the Stockport area hoping to establish a new club a s part of the legacy delivery plan.

SRDF will continue to be the community face of Salford Red Devils delivering activities and promoting the Club to the best of its abilities. SRDF will actively work with the clubs new Commercial Director in developing new partnerships and gaining new investment into the organisaton. SRDF can meet the corporate social responsibilities for local businesses looking to harness professional sports clubs power, playing an integral role in delivering key local and national wide messages to the local community.

At the earliest opportunity SRDF will return to delivering ‘Red Devils in the Community’ events around all first team matches. These exhibitions will include local schools and community clubs providing mascots and flag bearers for each fixture. Across the season SRDF will bring in excess of 1,500 spectators to live games as part of the final year of Sky Try commitment.

Page 7

SALFORD RED DEVILS FOUNDATION

Trustees' Report and Financial Statements For the year ended 30 November 2020

7 FUTURE PLANS (continued)

SRDF is always open to enhancing its board of trustees and is open to welcoming new individuals on board that have a passion for the club and a wealth of skill and experience to share that will continue to enhance SRDF’s reputation of excellence.

Finally, although we all hope that the pandemic will be soon brought under control, unfortunately there will likely be some long-term effects that are not yet fully known. The effects of the Pandemic will have a detrimental effect to SRDF both financially and in its ability to deliver physical activities in the short term and the organisation must prepare accordingly.

8 TRUSTEE INDEMNITY INSURANCE

Indemnity insurance in respect of the trustees has been provided during the year at a cost of £432 (2019 - £424).

9 TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Salford Red Devils Foundation for the purpose of company law) are responsible for preparing the Trustees’ Annual Report and 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 income and expenditure, of the charitable company for that period. 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.

The financial statements comply with current statutory requirements, the company's Memorandum and Articles of Association and the Charities SORP.

The Trustees report was approved and signed on behalf of the Trustees by:

Taylored Business Secretaries Limited Secretary

26 March 2021

Page 8

SALFORD RED DEVILS FOUNDATION

Independent Examiner's Report to the Trustees of Salford Red Devils Foundation For the year ended 30 November 2020

I report on the financial statements of the company for the year ended 30 November 2020 as set out on pages 10 to 18.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of financial statements. The trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the ‘2011 Act’) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has not been withdrawn. I understand that this has been done in order for the charity to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In connection with my examination, no matter has come to my attention:

have not been met; or

Use of my report

This report is made solely to the charity’s trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

M G Garrett FCA Kay Johnson Gee Limited 1 City Road East Manchester M15 4PN 26 March 2021

Page 9

SALFORD RED DEVILS FOUNDATION

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30 November 2020

Note
Income
Donations and legacies
3
Income from charitable activities
Provision of community development
-
Grants and contracts
5
Income from other trading activities
Fundraising
4
Government grants
6
Total income
Expenditure
Costs of raising funds
Fundraising
Expenditure on charitable activities
-
Provision of community development
7
-
Governance costs
8
Total expenditure
9
Funds at 1 December 2019
Total funds at 30 November 2020
15
Net income (expenditure) and net movement in
funds for the year		 Restricted
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
-
1,669
1,669
16,580
165,018
31,608
196,626
202,630
-
-
-
25,137
53,369
53,369
165,018
86,646
251,663
244,347
-
-
-
13,463
165,018
62,154
227,171
233,648
-
6,583
6,583
6,142
165,018
68,737
233,754
253,253
-
17,909
17,909
(8,906)
-
23,648
23,648
32,554
-
41,557
41,557
23,648

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

All income and expenditure derive from continuing activities.

Page 10

Company registered no: 05843571 Charity registered no: 1119133

SALFORD RED DEVILS FOUNDATION

Balance Sheet

As at 30 November 2020

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors : amounts falling due within one year
14
Net current assets
Net assets
Funds
Restricted funds
15
Unrestricted funds
15
Total funds		 2020
2019
£
£
14,280
18,727
10,123
15,729
57,579
15,461
67,702
31,190
(40,425)
(26,269)
27,277
4,921
41,557
23,648
-
-
41,557
23,648
41,557
23,648

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The directors acknowledge their responsibility for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2020 and of its surplus or deficit for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime .

The financial statements on pages 10 to 18 were approved by the Board of Trustees :

----- Start of picture text -----
A P A Snape
Trustee
26 March 2021
----- End of picture text -----

Page 11

SALFORD RED DEVILS FOUNDATION

Statement of Cash Flows

For the year ended 30 November 2020

Cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Disposal of fixed assets
Increase/(decrease) in cash and cash equivalents
Cash and cash equivalents
At 1 December 2019
At 30 November 2020
Cash and cash equivalents consists of:
Cash at bank and in hand
Net income/(expenditure) for year
Depreciation
(Increase) decrease in debtors
Decrease in creditors
Net cash flow from operating activities
Reconciliation of net income/(expenditure) to net cash flow
from operating activities		 2020
2019
£
£
42,118
12,647
-
(11,193)
-
10,000
42,118
11,454
15,461
4,007
57,579
15,461
57,579
15,461
2020
2019
£
£
17,909
(8,906)
4,447
11,238
5,606
3,271
14,156
7,044
42,118
12,647

Page 12

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

1 General information

Salford Red Devils Foundation Limited is a registered charity and a company limited by guarantee in the United Kingdom. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The Charity's operations and principal activities are the provision of education and sports activities.

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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, 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 as it applies from 1 January 2015.

2 Accounting policies

Basis of accounting

These financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in the functional currency of the Charity.

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.

Income

Income from donations is included in the financial statements for the period in which payment was received.

Investment income comprises of interest, and is accounted for on a receivable basis.

Grants and contract income receivable is credited to the SOFA in the period in which the charity becomes entitled to receive the grant. Grants which are for a specific future period are deferred to that period.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure is recognised when it is incurred and is reported gross of related income on the following basis:

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.

Page 13

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

2 Accounting policies (continued)

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised and included on the Balance Sheet initially at cost, any related grants being shown as restricted fixed asset funds if appropriate, which fund future depreciation of the assets.

Donated assets are included at an estimated value at the date of acquisition.

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Motor vehicles 4 years Office furniture & equipment 3 - 10 years

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Fund balances

Unrestricted funds are incoming resources receivable or generated for the objects of the charity, without restriction, and are available as general funds to be applied as the charity sees fit.

Restricted funds are to be used for a specific purpose as stipulated by the donor. Expenditure within this criterion is charged to the fund, together with a fair allocation of management and administration overheads.

Leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities in the year in which they accrue.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

3
Donations and legacies
Sundry donations
4
Fundraising
Events		 Restricted
Unrestricted
Total
Total
2020
2020
2020
2019
£
£
£
£
-
1,669
1,669
16,580
Restricted
Unrestricted
Total
Total
2020
2020
2020
2019
£
£
£
£
-
-
-
25,137

Page 14

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

5
Grants and contracts
Onside Education
Salford City College
Rugby Football League
Schools Sports Delivery
RL Cares
Sky Try
Start in Salford
Salford Primary Care
Salford City Council
Salford Community
Charities Trust
Funding Network
Lowry Trust
Supporters Trust
Salford Red Devils
Trafford MBC
6
Government grants
Furlough income
7
Expenditure
Wages
- Community development
- Running costs
Direct costs
Administrative costs
Governance costs		 Restricted
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
-
-
-
35,193
-
31,608
31,608
7,902
-
-
-
1,500
24,066
-
24,066
36,895
10,355
-
10,355
1,646
104,714
-
104,714
76,151
20,426
-
20,426
20,426
-
-
-
6,069
-
-
-
2,900
4,957
-
4,957
750
-
-
-
1,699
-
-
-
1,399
-
-
-
750
500
-
500
500
-
-
-
6,200
-
-
-
2,650
165,018
31,608
196,626
202,630
Restricted
Unrestricted
Total
Total
2020
2020
2020
2019
£
£
£
£
-
53,369
53,369
-
Charitable
TOTAL
activities
Fundraising
2020
2019
£
£
£
£
161,929
-
161,929
146,086
29,255
-
29,255
29,255
22,073
-
22,073
46,275
13,914
-
13,914
25,495
6,583
-
6,583
6,142
233,754
-
233,754
253,253

Page 15

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

8
Governance costs
Unrestricted expenditure
Company secretarial
Accountancy and independent examination fees
Legal fees
9
Net income (expenditure) and net movement in funds for the year
Net income (expenditure) is stated after charging:
Independent examiner's fees
Independent examination fees
Other services
Depreciation of tangible fixed assets
10
Staff costs
Wages and salaries
Social security costs
Pension costs
The average monthly number of employees during the year was:
No employee received remuneration in excess of £60,000.
Community development
Management		 2020
2019
£
£
830
1,195
4,000
4,000
1,753
947
6,583
6,142
2020
2019
£
£
4,000
4,000
1,623
375
4,447
11,328
2020
2019
£
£
173,824
159,231
14,100
13,488
3,260
2,622
191,184
175,341
2020
2019
Number
Number
33
54
87

11 Trustee remuneration and expenses

None of the trustees received any remuneration during either of the two years.

Page 16

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

12
Tangible fixed assets
Cost or valuation
At 1 December 2019
Additions
Disposals
At 30 November 2020
Depreciation
At 1 December 2019
Charge for the year
Disposals
At 30 November 2020
Net book value
At 30 November 2020
At 30 November 2019
13
Debtors
Other debtors
Prepayments
Grants receivable
14
Creditors : amounts falling due within one year
Other taxes and social security costs
Loans
Accruals
Deferred Income		 Motor
vehicles
£
8,490
-
-		 Office
furniture &
equipment
Total
£
£

23,250
31,740

-
-

-
-
8,490
23,250
31,740
354
2,122
-
12,659
13,013

2,325
4,447

-
-
2,476
14,984
17,460
6,014
8,266
14,280
8,136
10,591
18,727
2020
2019
£
£
7,489
-
-
3,000
2,634
12,729
10,123
15,729
2020
2019
£
£
5,836
3,230
-
1,000
3,801
8,459
30,788
13,580
40,425
26,269

Page 17

SALFORD RED DEVILS FOUNDATION

Notes to the Financial Statements

For the year ended 30 November 2020

15
Movement in funds
Note
Restricted funds:
Schools Sports Delivery
i.
RL Cares
ii.
Sky Try
iii.
Start in Salford
iv.
Salford Community
Supporters Trust
Unrestricted funds:
General funds
Total funds		 At 1 Dec
At 30 Nov
2019
Income
Expenditure
2020
£
£
£
£
-
24,066
(24,066)
-
-
10,355
(10,355)
-
-
104,714
(104,714)
-
-
20,426
(20,426)
-
-
4,957
(4,957)
-
-
500
(500)
-
-
165,018
(165,018)
-
23,648
86,646
(68,737)
41,557
23,648
251,663
(233,754)
41,557

Funds were received from the following to fund specific projects:

16 Related party transactions

The Foundation operates entirely independently of Salford City Reds (2013) Limited ("the Club") but works very closely with it to help maximise income opportunities for both parties.

There are agreed recharges of income and expenditure which are intended to be financially neutral for both parties.

At the year end there were no outstanding balances either due to or from the Club

Page 18