Company Registration Number 05843571 Charity Registration Number 1119133
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 2 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
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 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Kccounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.
CONTENTS
Page
STRATEGIC REVIEW
| STRATEGIC REVIEW | |
|---|---|
| Achievements and performance | 3 |
| Financial review | 3 |
| Future plans | 3-5 |
| GOVERNANCE | |
| Reference and administrative details | 6 |
| Structure, governance and management | 7 |
| Objectives and activities | 7 |
| Public benefit | 7 |
| Trustees' responsibilities | 8 |
FINANCIAL STATEMENTS
| IndependentExaminer’sReport | |
|---|---|
| Independent Examiner’s Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Statement of Cash Flows | 12 |
| Notes to the Financial Statements | 13-19 |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 3 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
ACHIEVEMENTS AND PERFORMANCE
Review of the year
2024 has seen the Salford Red Devils Foundation continue to deliver sport, health and wellbeing programmes across our community, making a difference to people of all ages and abilities. The ever-changing funding landscape has presented some challenges throughout the year in terms of accessing funding to deliver a range of programmes.
It has also been a year of change as long serving Foundation Director and Chair of Trustees left the Foundation. Both colleagues have had great impact in their respective roles over a number of years, steering the Foundation through some challenging times and leave with our best wishes.
The Development Academy has continued to grow, both in terms of numbers accessing the programme as well as those progressing further along the club’s player pathway programme. The club’s successful 2024-2027 Elite Academy Licence bid is a huge bonus for the pathway programme, which will provide further opportunities to increase the numbers into the Development Academy from the newly established Scholarship programme as well as from our usual recruitment methods. This is a hugely exciting step for the Foundation as two of our staff have been appointed as part of the Elite Academy coaching staff, alongside their Foundation roles. These deserved appointments will support further professional development for both of them, as well as providing additional opportunities for boys and girls on the Foundation programmes.
Disability Rugby League programme has continued to grow, with numbers attending our Wheelchair, Learning Disability and Physical Disability provision. The greater profile of Disability Rugby League and Disability sport in general can be a catalyst to see this growth continue in the future.
FINANCIAL REVIEW
The financial position is set out in the attached financial statements.
The challenges of the financial year have been minimised with cost management and careful planning. The Trustees and leadership will continue to be cautious to ensure that the Foundation can be in a stronger position, leading to sustainable growth.
FUTURE PLANS
2025 promises to be an exciting year for the Foundation.
A key driver for 2025 will be to further develop the alignment between the Foundation and club. The appointment of the Director of Foundation and Rugby Partnerships working across both organisations is evidence of this enhanced relationship between the club and foundation, ensuring greater collaboration between the two organisations.
The first ever Foundation Takeover Super League game will take place for the Castleford Tigers fixture in July 2025. This will allow us to highlight the best of the Foundation’s work to a wider audience on a matchday through a range of activities on show, media content as well as the opportunity for people to donate to support our programmes.
At the start of 2025, the Foundation will undertake a rebrand, with a new logo and branding. This will be aligned with the
2025 will see the Foundation team launch a new revised vision, mission and values of the Foundation, alongside the creation of 7 themes to ensure our work is focused on achieving our aims, whilst addressing the needs of our community.
Our new vision is to be a dynamic, ambitious Foundation which works with people of all ages and abilities across our communities to empower better lives through Rugby League. Our new mission at Salford Red Devils Foundation is that we raise aspirations and inspire potential in all, improving the life chances of people in our communities.
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 4 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
FUTURE PLANS (continued)
Our 7 themes for 2025 are:-
-
Increasing Rugby League participation
-
Raising Aspirations
-
Empowering Healthy Lifestyles
-
Creating Belonging in our communities
-
Enhancing Disability Rugby League
-
Developing Pathways on and off the field
-
Providing Training & Careers opportunities
Every programme we deliver will be aligned to one or more of these themes. This ensures coherence with our delivery in order to achieve our aims, whilst also demonstrating the breadth of our work to our local community and beyond.
Raising awareness of the incredible work of the Foundation is a key action for 2025. We will be partnering with the University of Salford to provide internships for Masters students to support with developing our media output to share our work. This will allow us to develop our content range to share stories, as well as reporting on the programmes being delivered.
We will be seeking a significant increase in commercial income for 2025. Early in the year, we will be launching our Commercial Brochure with the new branding to formalise the breadth of opportunities for local and regional businesses to support the Foundation at varying levels of financial commitment. These will range from general programme support, to team and individual opportunities for our Disability Rugby League programmes and sponsorship of the annual Lance Todd Trophy Presentation Dinner.
There will be a significant increase in the breadth and number of school-based programmes for 2025 to allow us to have a greater impact on more young people in schools across Salford, Greater Manchester, Lancashire and Cheshire. Our programme offer will be split into four categories, Aspire, Active, Belong and Lead. Each of these categories will contain a range of programmes to engage students from both primary and secondary schools.
The launch of the club’s Elite Academy and Scholarship programmes will be a significant moment for the whole pathway across the Foundation and Club. The Foundation led school programmes, Rising Stars and Development Academy will have even greater importance in providing a quality pipeline of talent into the Elite Performance programmes at the club.
There will be significant growth in the Disability Rugby League programme during 2025. Early in 2025, we will be starting our 3-year Disability Rugby League Strategy, engaging with a range of stakeholders to create sustainable growth. A key part of this is to raise the profile of our Disability Rugby League teams. For 2025, these teams will have the same profile on the club’s website as our Men’s and Women’s First Grade, the Foundation’s social media will follow the club’s process for squad announcements and game day promotion. Early in the 2025 season, we will be having the club’s first ever Disability Team Media Day, again replicating the model used by our first grade teams. These aspects will promote our Disability Rugby League programme to a wider audience whilst also ensuring our existing players see themselves as an integral part of the club, feel valued and belong.
For 2025, the Wheelchair Team will be playing competitive games for the first time, following their promotion to Wheelchair Rugby League’s Championship West competition. There will also be the launch of a Development Squad and a Junior Squad, as part of the Wheelchair Team growth strategy for 2025. We will be looking to increase the number of players for our Learning Disability and Physical Disability teams.
We will be looking to further develop the reach of our community programmes. This will include growing the number of venues where we deliver our Older Movers and Reminiscence programmes, walking and men’s health initiatives, as well as innovative programme to support people with Parkinsons Disease in partnership with Mind 2 Muscle, an external partner.
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 5 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
FUTURE PLANS (continued)
As the amount and breadth of programmes continues to grow, our staffing will need to mirror this both in numbers and expertise. The existing Foundation staff and volunteer team are first class, delivering high quality programmes to inspire and engage, underpinned by a real sense of purpose to deliver the Foundation’s vision of ‘empowering better lives through Rugby League’. As an outward facing organisation, we will ensure that our staff are seeking opportunities for professional development, both within and outside Rugby League, to ensure we are providing the highest quality programmes. Using our existing partnership with Coach Core, we will explore employing additional apprentices to develop a strong succession plan.
2025 promises to be a very exciting year for the Salford Red Devils Foundation. The team of staff and volunteers are driven to have an even greater impact on our community through our programmes.
Since the production of these accounts, the Club have suffered severe financial problems which have been well publicised and they face a HMRC winding up order on 29th October 2025. The Trustees are currently looking at all potential options for the Foundation should the Club fold.
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 6 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
REFERENCE AND ADMINISTRATIVE DETAILS
| Charity Name: | Salford Red Devils Foundation |
|---|---|
| Charity Registration: | 1119133 |
| Company Registration: | 05843571 |
| 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 |
| Xeinadin | |
| 100 Barbirolli Square | |
| Manchester | |
| M2 3DB |
Directors and Trustees of the charity who served during the year and to the date of this report were:
A P Morley A P A Snape - resigned 14 November 2024 A Latief G T Tapp J Lowndes M Pearson M Burke - resigned 3 October 2024 P A King
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 7 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
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.
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;
-
To promote community participation in healthy recreation by providing facilities for the playing of rugby and other sports capable of improving health (‘facilities’ in this clause means land, buildings, equipment and organising sporting activities);
-
To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and
-
To advance the education of children and young people through such means as the trustees think fit and in accordance with the law of charity.
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
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.
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 8 of 19
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
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:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
M Pearson Trustee
Date :
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 9 of 19
SALFORD RED DEVILS FOUNDATION
Independent Examiner's Report to the Trustees of Salford Red Devils Foundation For the year ended 30 November 2024
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Salford Red Devils Foundation (‘the charitable company’) for the year ended 30 November 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.
Responsibilities and basis of report
As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
-
- the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
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 Xeinadin 100 Barbirolli Square Manchester M2 3DB Date :
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 10 of 19
SALFORD RED DEVILS FOUNDATION
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30 November 2024
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| Note | 2024 | 2024 | 2024 | 2023 | |
| Income | £ | £ | £ | £ | |
| Donations and legacies | 3 | - | 1,604 | 1,604 | 21,600 |
| Income from charitable activities | |||||
| Provision of community development | |||||
| - Grants and contracts |
5 | 172,361 | - | 172,361 | 178,675 |
| Income from other trading activities | |||||
| Fundraising | 4 | - | 17,006 | 17,006 | 14,371 |
| Government grants | - | - | - | - | |
| Total income | 172,361 | 18,610 | 190,971 | 214,646 | |
| Expenditure | |||||
| Costs of raising funds | |||||
| Fundraising | 6 | - | 16,328 | 16,328 | 11,086 |
| Expenditure on charitable activities | |||||
| - Provision of community development |
6 | 172,361 | 13,606 | 185,967 | 232,262 |
| - Governance costs |
7 | - | 23,945 | 23,945 | 11,720 |
| Total expenditure | 172,361 | 53,879 | 226,240 | 255,068 | |
| Net income (expenditure) and net movement in | |||||
| funds for the year | 8 | - | (35,269) | (35,269) | (40,422) |
| Funds at 1 December 2023 | - | 49,691 | 49,691 | 90,113 | |
| Total funds at 30 November 2024 | 14 | - | 14,422 | 14,422 | 49,691 |
The statement of financial activities includes all gains and losses in the year.
All income and expenditure derive from continuing activities.
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 11 of 19
SALFORD RED DEVILS FOUNDATION
| Balance Sheet | Company registered no: | 05843571 | |
|---|---|---|---|
| As at 30 November 2024 | Charity registered no: | 1119133 | |
| Note | 2024 | 2023 | |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 11 | 4,507 | 5,691 |
| Current assets | |||
| Debtors | 12 | - | 47,627 |
| Cash at bank and in hand | 24,224 | 14,927 | |
| Creditors : amounts falling due within one year | 13 | 24,224 (14,309) |
62,554 (18,554) |
| Net current assets | 9,915 | 44,000 | |
| Net assets | 14,422 | 49,691 | |
| Funds | |||
| Restricted funds | 14 | - | - |
| Unrestricted funds | 14 | 14,422 | 49,691 |
| Total funds | 14,422 | 49,691 |
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 2024 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 19 were approved by the Board of Trustees:
M Pearson Trustee
Date :
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 12 of 19
SALFORD RED DEVILS FOUNDATION
Statement of Cash Flows
For the year ended 30 November 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flow from operating activities | 9,297 | (57,109) |
| Cash flow from investing activities | ||
| Payments to acquire tangible fixed assets | - | - |
| Increase/(decrease) in cash and cash equivalents | 9,297 | (57,109) |
| Cash and cash equivalents | ||
| At 1 December 2023 | 14,927 | 72,036 |
| At 30 November 2024 | 24,224 | 14,927 |
| Cash and cash equivalents consists of: | ||
| Cash at bank and in hand | 24,224 | 14,927 |
| Reconciliation of net income/(expenditure) to net cash flow | 2024 | 2023 |
| from operating activities | £ | £ |
| Net income/(expenditure) for year | (35,269) | (40,422) |
| Depreciation | 1,184 | 2,954 |
| (Increase) decrease in debtors | 47,627 | (12,383) |
| Decrease in creditors | (4,245) | (7,258) |
| Net cash flow from operating activities | 9,297 | ( 57,109) |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 13 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
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 6 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 the Statement of Recommended Practice : Accounting and Reporting by Charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019.
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:
-
Costs of generating funds comprise costs associated with attracting voluntary income and the costs of other income generated.
-
Charitable expenditure comprises direct expenditure including direct staff costs attributable to its activities. Where costs cannot be directly attributable, they have been allocated to activities on a basis consistent with the use of those resources.
-
Governance costs, including those incurred in the governance of its assets and are directly associated with constitutional and statutory requirements.
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.
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 14 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
2 Accounting policies (continued)
Tangible fixed assets
Tangible fixed assets costing more than £250 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 | Restricted | Unrestricted | Total | Total |
|---|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Sundry donations | - | 1,604 | 1,604 | 21,600 | |
| 4 | Fundraising | Restricted | Unrestricted | Total | Total |
| Events | 2024 £ - |
2024 £ 17,006 |
2024 £ 17,006 |
2023 £ 14,371 |
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 15 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
| 5 | Grants and contracts | Restricted | Unrestricted | Total | Total |
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Armed Forces Covenant | 5,210 | - | 5,210 | 9,300 | |
| Bury MBC | 1,527 | - | 1,527 | - | |
| Cheshire Business | 536 | - | 536 | - | |
| Coachcare | - | - | - | 5,250 | |
| Community Organisation | 17,658 | - | 17,658 | - | |
| Cost of Living Fund | - | - | - | 11,496 | |
| ESC Lottery Fund | 9,970 | - | 9,970 | - | |
| Great Places Housing | 2,145 | - | 2,145 | 6,500 | |
| Heritage Film | - | - | - | 2,634 | |
| Heritage Lottery | - | - | - | 24,091 | |
| OCL New Cluster | - | - | - | 1,225 | |
| RFL | 31,938 | - | 31,938 | 25,500 | |
| Salford City College | 29,064 | - | 29,064 | 28,884 | |
| Salford City Council | 1,945 | - | 1,945 | 19,995 | |
| Salford Community | 9,852 | - | 9,852 | 12,167 | |
| Salford Community CVS | 7,500 | - | 7,500 | - | |
| Schools | 28,616 | - | 28,616 | 30,934 | |
| SJP Foundation | 1,250 | - | 1,250 | - | |
| University of Manchester | 3,200 | - | 3,200 | - | |
| University of Salford | - | - | - | 700 | |
| Veterans | 9,950 | - | 9,950 | - | |
| Workers Educational | 12,000 | - | 12,000 | - | |
| 172,361 | - | 172,361 | 178,675 |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 16 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
| 6 | Expenditure | Charitable | TOTAL | ||
|---|---|---|---|---|---|
| activities | Fundraising | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Wages | |||||
| - Community development | 127,348 | - | 127,348 | 144,622 | |
| - Running costs | 26,628 | 2,627 | 29,255 | 29,255 | |
| Direct costs | 24,824 | 12,994 | 37,818 | 53,791 | |
| Administrative costs | 7,167 | 707 | 7,874 | 15,680 | |
| Governance costs | 23,945 | - | 23,945 | 11,720 | |
| 209,912 | 16,328 | 226,240 | 255,068 | ||
| 7 | Governance costs Unrestricted expenditure Company secretarial Accountancy and independent examination fees Other professional fees |
2024 £ 1,159 4,668 18,118 |
2023 £ 380 4,886 6,454 |
||
| 23,945 | 11,720 | ||||
| 8 | 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 |
2024 £ 4,668 1,134 1,184 |
2023 £ 4,886 475 2,954 |
||
| 9 | Staff costs Wages and salaries Social security costs Pension costs |
2024 £ 146,519 7,390 2,694 |
2023 £ 162,608 8,302 2,967 |
||
| 156,603 | 173,877 |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 17 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
9 Staff costs (continued)
| The average monthly number of employees during the year was: | 2024 | 2023 |
|---|---|---|
| Number | Number | |
| Management | 44 | 4 |
| Community development | 34 | 4 |
| 7 | 8 | |
| No employee received remuneration in excess of £60,000. |
10 Trustee remuneration and expenses
None of the trustees received any remuneration during either of the two years.
| 11 | Tangible fixed assets | Office | |
|---|---|---|---|
| Cost or valuation | Motor vehicles £ |
furniture & equipment Total £ £ |
|
| At 1 December 2023 | 8,490 | 26,575 35,065 |
|
| Additions | - | - - |
|
| Disposals | - | - - |
|
| At 30 November 2024 | 8,490 | 26,575 35,065 |
|
| Depreciation | |||
| At 1 December 2023 | 8,490 | 20,884 29,374 |
|
| Charge for the year | - | 1,184 1,184 |
|
| Disposals | - | - - |
|
| At 30 November 2024 | 8,490 | 22,068 30,558 |
|
| Net book value | |||
| At 30 November 2024 | - | 4,507 4,507 |
|
| At 30 November 2023 | - | 5,691 5,691 |
|
| 12 | Debtors | 2024 2023 |
|
| Other debtors | £ £ - 47,627 |
||
| - 47,627 |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 18 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements For the year ended 30 November 2024
| 13 | Creditors : amounts falling due within one year | 2024 | 2023 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other taxes and social security costs | 2,275 | 4,300 | |||
| Accruals | 6,994 | 8,421 | |||
| Deferred Income | 5,040 | 5,833 | |||
| 14,309 | 18,554 | ||||
| 14 | Movement in funds | At 1 Dec | At 30 Nov | ||
| Restricted funds: | Note | 2023 Income £ £ |
Expenditure £ |
2024 £ |
|
| Abbott | i | - 8,353 |
(8,353) | - | |
| Armed Forces Covenant | ii | - 5,210 |
(5,210) | - | |
| Bishop Fraser | iii | - 750 |
(750) | - | |
| Blessed Thomas Holford | iii | - 6,664 |
(6,664) | - | |
| Bridgewater Primary | iii | - 2,355 |
(2,355) | - | |
| Bury MBC | i | - 1,527 |
(1,527) | - | |
| Cheshire Business | i | - 536 |
(536) | - | |
| Clifton Primary | i | - 2,941 |
(2,941) | - | |
| Community Organisation | iii | - 17,658 |
(17,658) | - | |
| ESC Lottery Fund | iii | - 9,970 |
(9,970) | - | |
| Great Places Housing | iii | - 2,145 |
(2,145) | - | |
| Lewis Street Primary | i | - 1,430 |
(1,430) | - | |
| Link Education Irlam Primary | i | - 2,860 |
(2,860) | - | |
| RFL | iii | - 31,938 |
(31,938) | - | |
| Salford City College | i | - 29,064 |
(29,064) | - | |
| Salford City Council | i | - 1,945 |
(1,945) | - | |
| Salford Community | iii | - 9,852 |
(9,852) | - | |
| Salford Community CVS | iii | - 7,500 |
(7,500) | - | |
| Schools | i | - 1,203 |
(1,203) | - | |
| SJP Foundation | iii | - 1,250 |
(1,250) | - | |
| St Teresas | i | - 2,060 |
(2,060) | - | |
| University of Manchester | i | - 3,200 |
(3,200) | - | |
| Veterans | iii | - 9,950 |
(9,950) | - | |
| Workers Educational | iii | - 12,000 |
(12,000) | - | |
| - 172,361 |
(172,361) | - | |||
| Unrestricted funds: | |||||
| General funds | 49,691 18,610 |
(53,879) | 14,422 | ||
| Total funds | 49,691 190,971 |
(226,240) | 14,422 |
SALFORD RED DEVILS FOUNDATION Trustees' Report and Financial Statements For the year ended 30 November 2024
Page 19 of 19
SALFORD RED DEVILS FOUNDATION
Notes to the Financial Statements
For the year ended 30 November 2024
14 Movement in funds (continued)
Funds were received from the following to fund specific projects:
-
i Education coaching/delivery
-
ii Veterans grant
-
iii Community activities
15 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.
16 Post balance sheet note
Since the production of these accounts, the Club have suffered severe financial problems which have been well publicised and they face a HMRC winding up order on 29th October 2025. The Trustees are currently looking at all potential options for the Foundation should the Club fold.
SALFORD RED DEVILS FOUNDATION
Trustees' Report and Financial Statements For the year ended 30 November 2024