Registered Company Number: 07267733 (England and Wales)
Registered Charity Number.. 1136618
ON COURSE
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2023
Russell & Co
Chartere(l Accountants
Station House
Station Approach
East Horsley
Surrey
KT24 6QX

ON COURSE
Contents
Pag•
Chairnian's Report
Our Objectives and Activities
Achlevements and Performancg
Financial Reylew
Structure. Governance and Management
Legal and Administrdtive Details
Statement of Trustees Responsibilities
10
Independent Examinerfs Report
Statement of Financial Activiti8$
12
Balancg Sheet
13
Cash Flow Statemont
14
Notes to the Cash Flow Statement
15
Notes to tho Flnancial Statements
16
Detsiled Statemgnt of Financlal Activities
26

ON COURSE
Chairman's Report
On Course Foundation was founded thirteen years ago during the height of the Afghanistan conflict at
a stage when our milit- ry actiV￿eS were daily fronl-page news and pictures of our fallen and returning
wounded Servu personnel were regular fe*ures on nightty telewsion broadcasts.
Our missv)n was lo support t￿se who were injured in this and previous military campaKJns by
usirKJ the sport of goff ds a veh￿Ie to aid recovery as they each looked lo return to a normal lrfe after
suffering what foi mans, were life<hanging initjries. Alongside their familEs, tw all needed to adjust
to their new-found srtuation and to leam to cope with the daity drfficuttFes that they woukl now be
facing_
Since 2010 we have bEen there to help them on theirjoumey through this pr￿$$ by introdLJcing a
game into their lives wtriich many had never considered participating in before. Whilst the benefits of
playing golf may be academically drfficuli lo prove, the IMp￿vernent in their physical 2nd mental
strength along with the camaraderie enjoyed during the projramme of activi(ies that the charity
deliveis makes it obvious that we are ab￿ to offer a way out of the datl(ness and cre*e opportunities
for a brighter future.
"It has saved my lrfe. I slwggled to leave Ihe house with my PTSD and my anxiety was through the
roof, but the OCF evenJS have helped me get back into s(uety through golf and its the only thing I
ally enjoy in lrfe..
CP- Benefi¢iary since..
Following two drffIcu￿ pandemic-f¢xussed years we have now moved on and enjoyed ￿e1ve months
in which we have been able lo deliver more a¢tivf(ies wrthin our event programme lo a larger number
of benefiCiar￿S than ever before. The report that follows will provide the detsils on this and whilst
fundraising has continuKJd to remain a challenge, we are confident and enthused about facing the
demands made on us that Ite ahead.
One of the most gratyiii g eyriences has been the support that the Charty has received from the
beneficiaries themselves. Many have taken on a variety of inrti"atives to generate funds, raise
awareness and incmsi! the profile of their charty. wanting to gwe back for the help that they feel
they have received. None more so than the group that walked the length of the country last ju￿ via
I past and present Open venues to arrive at Sl Andrews on the eve of the 150kn Championship to be
met by HRH The Princess Royal beside the 181h green - a challenge that ￿l￿d on camaraderie and
teamwork that had been such essential requirements during their military Car￿rs.
th golf being the charity's ccfflerslone. we would not have been able to ￿hleve any of this over the
years wrthout the support of the golfing famity themselves. The sport has a history of coming together
in the name of charity and wrth the game being front and centr& of everything thal we do. we are
hugely grateful for the halp that we reCe￿e from trx)th golf ¢lubs and their individL¢al members who
consistently support US through their drfferenl fundraising initiatives_
Thank you lo everyone INho has worked so hard lo ensure that On Course Foundation remains bc*h
relevant and successfvl so that we can continue lo provhde our serwces to those that need them.
Kenneth D Schofield CEE
Chairman of Trustees

ON COURSE
Our Objectives and Activities
The charrtable objectNes of On Course Foundation remain unchanged and are.
To support the recovery of Service personnel and veterans who have a physical disability,
suffei from a piysical or mental illness or who are in need of rehabilitatK)n as a ￿sU11 of such
disabiSrty or illn*s Ihroijgh the encouragement supwrt and provision of golf actvities.
To assist their Jansrtion back to nom)al civilian lrfe by providing lrfe skills and employment
training, facili181ing work experien￿ placements and styjrcing both part-time and full-time
employment opportunibes.
Public Benefrt Statement
On Course Foundation works to provKle support for wounded, injured and sick SeNice personnel an
veterans through the sport of gow. The Trustees have consklered the Charty Commission's general
guidance on public benèfft and have taken it into account when ￿VIewIng the chaty's aims and
objectives and in plann ng its f(rture activrties. The Trustees are satisfied that the aims of the charity
arè carried out wholty in pursuit of ((s charitable aims for the public benefft.
How We Achieve Our Objgctives
As the only military eharity that uses goW to support Ihe recovery pathway and ongoing wellbeing of
our wounded Serviee p>rsonnel and veterans, we play a vital role in this phase of the process as
each l¢Joks to retum lo their previous milrtary career or transilion outside to a normal civilian lrfe.
By providing go￿ as an option, On Course Foundation Introdu￿ a sport that helps to restore self-
confidence and buikls sew-belief within an environment th* promotes camaraderie as eath individual
boks lo recover from their life-changing injuries.
This is achieved by deli￿ring a programme of nationwide gotf events that range from one day
introductory sessions fcr beginners to residential gow skills courses fr>r the more advanc￿ under the
expert luf(ion of our PG,1 qualified teaching profe&8ionals. Supplemented wrth compelrtwe matches
ainsl golf clubs and associations including the Amiy, Royal Navy and Royal Air Force as well as
overseas warm weather training camps, this programme delNers a structured p*hway for each
beneficiary to follow th81 improves not only their go￿Ing ability but also their rehabilrtation and
pwsonal welfare.
W((h many looking to complete their recovery joumey from the military to a nomwl ciwlian lif& by
finding employment, On Course Foundalh)n endeavours to source appropriate opportunrf(ies for them
wrthin the golfing sector From hokling one-on-one interviews and career guKlance during events lo
8ttendan¢e at company 'insight days" lo learn about indwidual businesses, we aim lo identfy the
different omployment opb.ons that may be $urtable and avaitabk for them as they look to rebuild their
OurAims Going Forward
Wlh sport playing such a wtal role in aidrng recovery. our aims remain the same. We shall continue to
support each and every wounded Serv1￿Man, woman and veteran who requires our assistance by
introducing the game of golf into their Iwes, growing the programme of events that form part o* their
recovery cycle and sour-ing employment ¢)pportunities for them wthin the industry in order to add
financval security and a sense of puryxjse to their long-tem) future.

ON COURSE
Achievements and Perfomiance
2022 was a year in which we were able to fully retum lo delivering our nomial activrties folkming a
iwo-year period when the govemment restiictions impos&Y forced us lo adopt nthv initiatives to
ensure that we could c,)ntinue lo serve our benef￿aries al a tume of nKJst need.
We have looked to eons01idate our POSTtion across all key areas increasing the range of act1vil￿ that
we offer to beneficiaries to provide a support structure th* many have come to rely on.
This sectK)n provides a summry of &tivities and rewews their impact and Ihe outcomes that
were achieved.
Membership
There were 69 applicat ons for membership during the year with 30 teing receThied from veterans and
39 from eurrenl serying personnel awarting their medKal discharge. Of this number 46 were suffering
from some form of physical injury whilst 23 experienced mental health issues. The new irrtake of
members indudecl 2 females taking their total representation to 32.
In a continued effort to ansuie GDPR C(¥npIian￿ we have removed those individuals from our
membership datsbase iNho have not participated in any OCF activ￿"e$ for a signrfi¢ant period of lime
or responded to our various communications. PeTsonal infomation rs no longer retained in
accordance with our GDPR Register of Systems and Ihks action ha% resulted in 77 individuals leaving
the Foundation.
Al 31 March the total number of benef￿larIeS St¢X￿ * 905.
Wrth over haW of the nem members experiencing the game for the first time, joining On Course
Foundation not only introduces golf as playing an integral part in their recovery program￿￿ bul also
represents for many the beginning of a lif&long asscciation wrth the sport.
Events
We delivered a programme of $2 events during 2022 that were attended by 664 benefick8ries.
Figures that represent the largest number of activit￿$ and hNJhest attendance that the charity has
ever achieved as we kx)ked to extend the geographtal boundaries of our event programme into new
r￿lon$. For the first linie we visited Northem Ireland stsging three events and attracting strong
support encouraging us lo I￿k at increasing our presence there over the next ￿e1Ve months.
After making Scotland an area of focus for our event prcyJramme we wefe able to hold 9 events north
of the border which were attended by a total of 87 benefiC￿[￿S and included 3 of our flagship two-day
residential GOW Skills and Employment Courses.
After a gap of three years we were ab￿ to wntroduce Ouf Wami Weather Training Camp held in
Orlando. Florida when tLan of our beneficiaries travelled for a week of intensive coaching alongside
their counterparts al OCF USA. The camaraderie shared between the groups and the
experiences gained froni the trip ensure that this is a highty posilNe and Valuab￿ element in the
recovery pathway for the individuals involved.
With matches against the vari(￿S Services and specific coaching days directed towards both
introductory and elitè groups, the year's programme offered beneficiaries at all drfferenl levels of
ability the opportunity lo be inVo￿e￿ and benefrt from the charitable activities provided.

ON COURSE
Changes of personnel and restrucbjring at the various Personnel Re(x)very Centres and Units meant
that we were able to stage fewer events than had been inrtialty scheduled with these facilrties
reducing our opportunity lo showcase the charty to sery￿e personnel attending as part of their
habilitation programrne prK)r to di￿harge. Tradi(ionalty this has aKvays been a sliong Sour￿ for
attracting new membe1"5 and it is hopa that our activities will retum to prewous levels wrth these
bcations shortty.
Employment
11 was a quiet year in terms of employment actNity continuing the recent trend of beneficiaries
showing 8 redU￿d leval of interest in taking up posilions wtthin the go￿ industry. Various reasons can
be attributed to this and whijst the MOD have an increased focus on retenbon rather than discharge,
those that a￿ transitioiiing out of the milrtary are being offered far greater resetuemenl support and
career guidan¢e now on the drfferent options available. Whilst working in the gotf sector may be one
of them- for many it is not.
One of the highlights was CravJe Hume's appointment as General Manager ofworlebury Gotf Club in
Somersel and becoming our first benekiary to lake such a leading management role in the industry.
Having supported CraiiJe through his GCMA Diph)ma Course to gel the necessary edtJcatK)nal
qualifutions, we can be iustifKably proud of playing a part in his career achievement.
In totsl during the year we placed 34 benefici?ries into a variety of employment arKI educational
training positions which fell wthin the following Categ￿e$."
Full-time Empl¢)ymenl
Part-time Empk)ymenl
Volurtary
Work ExperierTrce
Exterial Courses
18
We a￿ fortunate in that many golf clubs approach us with the offer of potential employment
opportunibes for our beneficiaries. however too often geographical restraints pLgy a part in u$ not
being able lo take advGnlage of them- due eithe¥ to a lack of members residing in the locab.on
concemed or low level of interest in employment from those that do.
Members Actlvlties
Juty saw over fifty of OLr beneficiaries working together on an inrtiative of their Q•¥n making to raise
fvnds for the charity around the 150th Open Championship. Over a period of three weeks, members
walked, ran, cycled ancl even swam in relay frorn Royal St George's Gow Club in Kent visiting all 14
past and present Open venues before arriving at St Andrew5 on the eve of the Championship. After
o of our beneficiaries walked up the 18th fairway along5Kle Tommy Fleetwood, they were then
greeted by the Captain of the R&A and HRH The Princess Royal beside the green in front of the
crowded spectator stands.
The annual Simpson Cjp match against our counterparts at On Course Foundation USA is held to
raise awareness and sèlves as a fundraiser for the h¢Jst country. Thirteen members from each of the
o charlties compete i i Ihe"Ryder Cup. style event over tsvo days showcasing the faet that golf
provides the opportunitrj for indiwduals of all different ab51rt￿ and disabiif(ies lo play against ea¢h
other competi(ively thariks lo rts unique handicapping system. Whilst nomialty slagecl on an
af(ernaling home and away basis, the 2022 edrtion was again held in America al 8aKusrol GOW Club,
New Jersey and followiig a recent run of USA successes, the GB team managed to come away wf(h
a convincing 13.5 to 5.5 vttory lo levd up the series at 5 matches each.

ON COURSE
Fundraising and Supporter5
Revenues are principally derived from th￿ main sources- frcm supporter donations, grants from
trusts and foundations or from the gow eommunty itself thanks ef(her lo the support of individual golf
clubs or from our own-undraising inTtL*ives.
Having relumed to a period when one wjld be confhlent that planned aCtiv￿e$ would aclualty take
place, in April we slagLxl a two-day fundraising event wrth the support of Royal Sl George's and
Princes Golf Clubs. Ten teams of four enjoye(f 36 hoFes over these two iconic courses and attended
an auct*)n dinner in the Royal St George's clubhouse during the evening be￿eR the two rounds. Its
success has led us lo plan further exclusive events for our Supporte￿ in the fthure.
Our annual fundraising event at Skipton GolF Club saw rnany of our benef￿larieS joining teams of
membefs and friends trelping to ra15e sbJnfficanl sums and we ale hugely indebted to David Rasche
who is one of our b￿gest supporters for continuing to organise this event to benefft us exh year.
2022 saw the end of OLir seven-year relationship with the National Golf Club Challenge. during whKh
time Stacey Jeffn"es and Matt Leighton have worked hard to raise signfficanl funds for us from their
nationwide online aucti)n. We have now brought this initiative in-house under our own OCF Auction
banner with Stacey continuing to W the proieet on our behaff.
Much of the revenue derived from the golfing community comes from being designated as the
benefitting charity by clJb eaptains during their year in office. We are hugely grateful lo them which
not only provides on important souree of revenue for us but also helps raise awareness and the Profile
of the charity amongsl-.heir members. Special mention must go to our beneficpry, Kale Surman who
as Lady Captain of The Springs. t¢)gelher wf(h the Men's Captain raised subslanlial funds for us
during the year.
Vffth individual donors and grants received from Trusts and Foundations becoming an increasingly
vital source of revenue help￿n9 to underpin the financial stability of the tharity, we would wish to make
special mention of the f?Ilowing.'
The Armed For¢es Covenant Fund Trust
The Sinclair Chartty
The Charles Skey Charitable Trusl
David and Diane Ras¢he
The Team Am'l Sports Foundation
The Royal FO￿ Benevolent Fund
The Joseph anil Lilk8n Sulty FOUndat￿n
The Veterans Foundation
The National G,JW Club Challenge
The Simon Gibson Charrtable Trust
FB Coates No4 (Famity Trust)
Charles S French Charrtable Trust
The Hobson Charity Trust
The Edrth Murphy Foundation
The Nath)nal Lottery Community Trust
The Am)y Central Fund
ABF The Soldiers, Charity
The Red Arrows Trust
The Poslcode Community Trust
The Awred Dunhill Links Foundation
The Royal & Ancient GO￿ Club
Ryder Architecture
The Hugh Fraser Foundation
Houghlon Dunn Charitable Tfust
On Course Foundation ,-.arries out fundraising activsties through its own team of in-house dedicated
staff and relies on voluntary 5UPPOrt from the wider gojfing communty to ger*rate revenues thfough
rnember events wf(hin their individual clubs.
Vve look lo ensure th81 ive comply wf(h the General Data Protection Regulations and follow the
Fundraising Regulator's Code of Fundraising Standards al all times and have ￿ceiVed no formal
complaints in relation lo our fundraising activities dunng the year_

ON COURSE
Financial Review
General Perfonnance
During the mon=hs under review the chanty incurred a loss of £51,753 and follows on from the
previous two years in vihich we also recorded deficrts of £22,566 and £44,755 ￿SpeCt￿ety. sin￿ the
outbreak of the pandemic we have SLrffered a £119.074 reductM)n in the level of our retained reserves
reflecting the damaginJ( impact that Covid-19 has inflicted on the ¢harrty's finances.
Income for the year tolalled £552.297 representing a small increase on the prwous fvIe￿e months
figure of £529.184 and whilst we saw an improvement in the amounts generated from our various goLf
fundraising activities, revenues from indNidual donatk)ns atjng wrth grants recewed from trusts and
loundalk?ns declined ir comparison to the year before.
GOK fundraising revenues increas&l by 21% to a figure of £236.328 compared to the previous year
and whilst this total is still well below the amounts that were achieved pre-pandemic, the outbok is
encouraging with $ome excrting new fundraising initiatNes bwng planned for the future.
Income from individual donations and grants re￿Ved from charitable trusts declined by £24,952 10
figure of £300.729 in comparison to the previous year. AKhough our grant revenues from trusts and
foundations actually rose by £41.993 year-on-yeaf, this inciease was ouiweighed due to the dip in
voluntary income from ndNidual supporter donations whKh totalled £33,626- down from the
£100,571 that had beer) recewed the year before.
Expendf(ure on charitah￿ activities, raisirwJ fttnds and support costs an￿Unted to £582,298 which
represented a 7% increase over the previous yearfs figure and was predominantly due lo our spend
on charitable actNrties I"ising ty £22.019 on account of the greater number of activities that we were
able lo deliver lo beneficiaries. We conlinue to monitor support costs careftjlty to ensure efficiencies
and savings are made iyherever possible. DireLt fundraising costs account￿ for 2p of every £1 of
revenue raised.
We suffered a net Ioss i)f £21,752 on our investments during the twefve months reflecting the market
value of the portfolio at yearond.
Investrnents
Following th& 608rds d6rision in 2021 th* the eharrty shoukl invest some of its cash resetves, a
review of the various OFtions available in the market was Concluded wrth hyo investment managers
appointed. A pooled fuiid approach was adopted in accordance with our Investment Policy and
assets currenlly held by the two funtj managers al yearond We￿ valued al £219,726.
Funds managed by BlaithR¢xk are held in the Amied Forces Charities Growth & Income Distribution
Fund. The value of investments in this fvnd at 31 March 2023 was £132.634 having declined by
£15.834 over the fvjelve months whilst we retsived £5,042 in distributh)n income during the period.
Funds held with JM Finii are invested in their CSI Growth Accumul*ion Fund and at year*nd were
valued al £87,090 which was £5.918 lower than the year previousty.
World events over the past fvIe￿e months have created uncertainty and vojalility in the mat*ets and
current valuations of the portfolio reflect this.
Risk Management
The trustees have overGII responsibilty for the management of risk in the charity and regularty review
policies at each Board Nleeling, amend where necessary and update.lo reflect current practice. Major
risks are mon(£ored according lo their probability and potential impact on the charty to ensure that
systems are in place 1¢ Initigale exposu￿ lo such dangers.

ON COURSE
The signfficanl areas cf risk that the charity eurrentty faces are".
Financial- duè lo the Unpredictab￿ nature of its income generation. We continue to loc4(10
source new ard aliemative fundraising opportunities.
Safeguarding .. ensuring that the highest standards are rroinlained in order to protect both
beneficiaries and staff.
The charity has strong internal controls in pLace to prevent financial k)ss and lo guard against any
potential reputstional damage.
Reserves Pollcy
Reserves are held lo ensure that we can continue to delNer our charitable activrf(ies in the event of a
downturn in income. Tlie trustees have considered the guidance issued by the Charity Commis$ion
ancl detemiined that to protect and meet its obligations, a tsrget ￿Ve1 of one year of operating costs
should be retained to Frovide stsbility and ￿rtaInty that these objexlives can be met.
The deficrt for the year of £51.753 has resutted in the Charities reserves falling to £353,626 al 31
March and is a figu￿ that is telow the target level set by the trustees. The resurts of the last Ihree
years Sin￿ the outbredk of the pandemic have had a maior impaci the levd of our retained fund5
however the trustees feel that the reserves held are within acceptable parameters of the current
pdicy.
There are no reslrictgj fvnds held at yearend and all reseryes are therefore freely available to
support the general ob ectives of the chaiity.
Going Concem
The Board are satisfied that On Course Foundation can continue to operate as a going concem
having taken into consider8tvJn Tts level of reserves, oper*'ng challenges on income. delivery of
charrtable a¢tivrbes and future commitsnents.

ON COURSE
Structure, Governance and Management
The charity was incorporated on 27 May 2010. registergj wrth the Charty CoMmiss￿n on 28 June
2010 and launchgd al the Royal Household Golf Club on 2 JlI￿ 2010.
The following sections explain how the charty is govemed and Manag￿..
Govemance
The charty currentty has a Board of six Directors. all of whom are t￿￿teeS of the charity. The Board
aims lo meet three ¢y f?ur times a year. FomiJ minutes are taken and papers ar8 circuLated before
each meeting.
The charity seeks to apwinl trustees wth a broad range of skill-sels and backgrounds and the clF￿enI
make-up of the Board provides a cross-seetK)n of exper￿nce within the goW management. military.
medical and commercial sectors and i% well represented to fulfil all i(s ￿spOnsibl1111es. Further
information on the trus-.ees is prowded within the Legal and Admini5tralNe Details section.
There are currently no standing sub-cc¥nmrttees of the Board.
A51 Iruslees are issued wf(h the Charity Commission guidance documents covering their roles and
responsibilities and rehjvant govemance updates are available as and when required.
All trustees have signed a Trustee C(xle of Conduca Polw.
Management
The day lo day management of the charty L8 deleg*ed to the Chief Executive who is responsible for
•mplemenling the polioi and Strateg￿ direction set by the Board. Regular communication btheen
the parties ensures that key decisions are acted upon and delTvered. The remuneration of the Chief
Executive is detemiined by the Board.
The employee roster ¢i)nsists of four full-lime members of staff supported by a part-time b(x)kkeeper
alongside work experience and other staff who are taken on as and when required_
Recommendations on staff salaries are set by the Chief ExecutNe and present￿ lo the Board for
approval.
Trustees are not remunerated for their role. however reasonab￿ expenses are reimbursed when
incurred wh￿h a￿ directly related to their duties.
The charity does not Current￿ make any direct u* of vdunteers.

ON COURSE
Legal and Administrative Details
This is the thirteenth N nnual Report of On Course Foundation and cover5 the periDJ of hvelve morrths
from 1 April 2022 to 3- March 2023.
The trustees who are also Directors ofthe charity for the purposes of the Companies Act 2006
present this report wi(h the financial statements of the charty for the year ended 31 March 2023.
Registered Company Number.
07267733 (Engtand and Wales)
Reglstered Charty Number:
1136618
Reglstered Office:
28 FaI￿aff House
Bardolph Road
Richmond
Surrey
TW9 2LH
Founder and President:
John S Simpson MBE
Trustees:
Kenneth D Schofield CBE Ichairmanl
Neil C Coles MBE
Dr Timothy J K Leonard
Gillian M Faldo
Sir Andrew Gregory KBE CB DL
Charfes Michael Lake CBE LVO
Chief Executive:
Alistair J B McKay Forbes
Bankers
Coutts & Co
440 Strand
London
WC2R OQS
Independent Examiner of Accounts
Russell & Co
Chartered Accountants
Stathjn House
Statk)n ApprO￿h
East HOrs￿Y
Surrey
KT24 6QX

ON COURSE
Statement of Trustets Responsibilitles
The TrpJstees (who ar* also the directors of On Course Foundab"onl are responsible lor preparing the
Annual Report and IhE Financial Statements in accordance with appl¢cable law and Unrtèd Kingdom
Accounting Standards IL•nited Kingdom Genelalty Aec•pted Aecounting Pr8cticel.
Company law requires the Trustees to prepare financial ststements foi ea¢h financial year which gNe
a true and fair view ol the state of 8ffairs of the Charty and of the incoming resou¥ces and application
of resources, includtng the ineorne and expenditure of the ChaTty for that period.
In preparing these financial statements, the Trustees are requited to..
Sow surtable auounting poI￿leS and thèn appty thèm consBtenty.
Observe the rnethijfss and pnn￿p1e$ In the Charty SORP.
Make judgements and ests"mat8s that are reasonable and prudent
Prepare the fina￿ al statements on Ihe going concein basis unless it is inappropriate to presurr
that the Charty will continue in business.
The Trustees are respnnsibEe for keeping proper accounting records wh￿h dis¢k)se wrth reasonab18
accur8¢y at any tsme tr e financial pOs￿0Th of the Charty and to enable them to ensure that the
financial statemallts cotTh)ly with the Companies Act 20L￿_
They are also re$ponsi?le for safeguarding the assets of the Charity and he￿￿ fortaking responsible
steps forthe preventiori of fraud and other irregularrties.
Thn8 report has been pi"eparèd in accordance wth thè specral piowsions of Part 15 ofthe Companies
Act 20(XS relating to small ¢ompanies.
Approval
Approvèd by the Board ol Trustees on 25 Septèmber 2023 and sb3ned on its behalf by..
Mr Kènneth Schofièld C BE
Chairrron of Trust¢•s
25 September 2023
10

Independent Examiner's Report to the Trustees of
OD Course Foundatio
Independetlt tA*miner's report to the trustees ofon Course FoundatiOJI ('the Co]nwny'}
rep)rt to the charity trustee> on my examination of the ac¢ounts of the Company for the year ended 31 March 2023.
Responsibilities and bssis (>f report
As the ¢harity's tn15tees of tF e Cornpany {and also its directors for the purtx)se5 of company Saw) you are ￿$￿nSIble for
the preparation of the accourits in acwrdance wilh the requirements of the Companies Act 2￿6 {*he 2006 Aci'l
Having satisfled myself thai the accounts of the Company are rKTrt requiFed io be audited under Pan 16 of the 2006 Act
and are eligible for indepen<lent examination, I retK)rt res[￿1 of my examination of your charity's accounts as carried
out under Section 145 of th: Charitie5 Act 201 I (Ihe ?01 l Act'l. In carrying oui my eXaMi￿atIon I have followed the
DiTECtions giveTh by the Chariry CotnEnission wider Seaion 145{5) (b) of the 2011 Act.
Independent eyamintr's st&temeDt
Since your charity's gross irtome exc¢￿ed £250.0(KJ your examiller must be a Tnemb¢r of a lisied tM)dy. I can confirni
Ihat l am qualified to undeTtake the examination because l am a member of the Institut¢ of Charte￿d Accountants in
England and Wales, which is one of the listd Ixmjies.
I have completed my examir*ion. I coTrfimi that M rnatteys havecometo my attention in tonne¢tion with the examination
giving me ¢&use to believe:
aceouniing records i¥ere not kepl irt reS￿¢t of lh¢ Company as required by Section 386 of the 2006 Act. or
the accounts do not Jccord with those records: or
the acc4)unts do noi comply wilh ihe accounting requir¢m¢nts of Section J96 of ihe 2(K)6 Act oiher than any
requirement thAtthe accounts give a and fasT view which is Th)1 a rnatter ¢on5idered as part of an independetlt
examination; or
the accounts have not been prepared in a¢¢ordanc¢ with the methods and principles of th¢ Staternent of
Recornmended Prdctice for ac¢ouniing and ieponing bv ¢hariiies lapplieable to charities preparing thcir accounts
in accordance wilh ihe Financial Rep)rting Staodard applicable in the UK almi Republic of Ireland {FRS 102)).
I have no ¢on¢erns and hav¢ come acn)ss Do other matttTS in cor￿cct10rt with the examination to which attention should
be drawn in this report in order to enable a proper understhnding of the to be reached.
Andr¢w Rus
The Institute of Chartered tkccouniants in England and Wales
Russell & Co
Station Elouse
Station Approach
East Horsley
Leatherhead
SU￿eY
KT24 6QX
Date..
Page 11

OTr4 COURSE FOUliDATION
Statement of FinAn¢ial Aoivities
for the YeAr Ended 31 Ma rch 2023
2023
UDf¢5tricted
fund
2022
Total
funds
Notes
INCO,ME AND Er1￿)wME￿Ts FROM
Donations and legacies
546121
526,223
Investment income
2.961
Totsl
552297
529.184
EXPENDITURE ON
Raising funds
12.727
11,492
Charitable activities
Golf skills and employment tfdining
her
381,659
359,640
187.912
172096
Total
582298
543,228
Operatin8 Loss
(30.001)
{14.044)
Nei gainslllosses) on investffients
NET INCOMEI(EXPENDI'fuRE)
(51.753)
(22.5661
RECOYCILIATION OF FIINDS
Total futtds brought fonvard
405J79
427,945
TOTAL FUNDS CARRIED FORWARD
353.626
405.379
The notes form part of these finan¢¥ai statements
Page 12

ON COIIRSE FOIJYDAThON
Balance Sbeet
31 M$rth 2023
2023
Total
fund$
2022
'lotsl
￿￿¢$
FIXED ASSETS
SoL"ial illvestmwits
14
219.726
241.478
ctrRRENT ASSETS
DebioTS
Cash at bank" a#d
15
66
265.745
76,143
241 382
332,029
277525
CREDftORS
All￿￿￿t5 fdbM8 withill i)ne l.ear
16
(198,129)
1113.624)
NET cuRRE￿r A&%ETS
133.
163.901
TOTAL ASSETS LESS CIJRRENT
LIABILITIES
353.626
40i.379
IYET ASSETS
354.046
4ai.179
FUNDS
Uwestrictd fun(ts
18
353.626
4115.R79
TOTAL FufiDS
The ¢ltsritable Losnpalli. is eJitit]*yJ to eKeTllPtion from a￿lit s￿1]0￿ 477 of the Comp4mies Aci for the v¢>r
eudtrj 31 Mar¥"h 2023.
The ni¢nitrft5 h81"e not requiied the co[[E￿I. to obtain m A￿]it ot" its fin￿¢]￿] statanetlts for the Lithd
?1 March 21)21 in acc()rdan￿ section 476 of the ComtonitsAct 21M)6.
Th¢ trus￿￿3 aLkno￿l¢￿8¢ IhirrwnsJTr>ili￿s for
(al
sunng thal the ch￿l￿b]e k**JS a¢eothJtillg rttotds that torDpty S￿￿On$ 186 ajxi 387 ot the
Companies Act 2(Itk5 md
prcpllring fu￿nCIal s&. lunents Mhtch give and faIr￿•￿.0ftht *ate o(atTairs of the chwt(ablecompans" as
al die Lnd of Lacli tLiancJal and o( its Ststplu¥ or defjcil (or ￿(h flliartciaj Tr.￿r ￿ aciorJallLe w.ith
IWIUTements of Sthliilljb 394 anKt.?9i attd Iitii¢h otheryiise io]nph the Iwuirettieutsof the COM￿￿5 Act
2006 rllabng to ttnanLial stateM¢ll￿ so faras app]icabk ￿ thechaJitsNe¢Omw￿.'.
Ibl
The fllwiLidl sknl¢mellts' t*TL" apwJi'¢d b} the EJo8DJ ofTnJst¢ts and awh0ii￿j i.or 25
wete SLgnedoJi its behaifbv."
Sepkjnber 1023 a
K D 8chofield_ Trustee
ThrN rAge does not forni p&t ofthe StsDJion' financial 4*al¢ments
Pa8e I

ON COIJRSE Fouf¥DATION
Cash Flow Statement
for the Year Ended 31 March 202J
202)
2022
Note5
C#$h flows fry)m oper#tlllE aetivitses
Cash generdtrd from opeMii)ns
18087
78 548}
Net c&sh providd by/lused in) opeming a¢tivities
18J87
78 548}
Cash flow$ from investing activities
Pllr¢hase of social investments
Interest received
(250,000)
2,961
5.476
Net cash provided byllused irn) investing a¢tivities
247 0391
Change in casb c*5h equivAlents
the reporting perlod
Cash and ¢*$h equivalents .4t the
beginning of the reporting period
24J63
{325.587)
241 J82
Cash and cgsh equiv#lents Jt the eDd •f
the reporting perlod
265 745
241.382
The rtote$ ftirm part of these finaTKia] statement5
Page 14

ON COURSE FOUIYDATION
Notes to the Cash Flow Staiement
for the Year Evded 31 ￿larch 2023
RECOIYCILIATION OF NET EXPENDITLRE TO YET CASH FLOW FROM OPERATIYG
ACTIVJTIES
2023
2022
Net expenditure for the reporting peri￿ (as p¢r the Ststement of
Financial Activities)
Adjustments for:
Losses on investmenis
Jnterest received
Increase in d¢btors
Incre&selld¢crease) ir creditors
(51 J33)
(22,566)
21.7S2
(5,4761
130.1411
84.085
8.5?2
1?.961}
(23,738}
37,805
Net cash provided byl{used in) operxtions
18J87
78,5481
ANALYSIS OF CH.INGES NET FUNDS
At 1.4.22
Cash flow
At31J.23
Net cg$h
Cash at batlk and in hand
Z41 J82
24J
265.745
241JS2
24J63
265.745
Total
241 JS2
24J63
265.745
The notes form part of these r1naTtci￿ statement5
Page 15

ON COURSE FOUTr4DATION
Notes to the Financial Statements
for the Year Ended 31 March 2023
GENERAL INFORMATION
The Charitable compimy i$ incorporated and domiciled in the United Kingdom. The addres5 of its regi51ered
office is 28 Fa]staff House. Bardolph Road. Richmond. Surrey. TW9 2LH. The registered numbeT of the
company is 0726773-' The registered number of the charity is 1136618.
The financial irtfomi<ttion presented Ès for the year ended il March 2023 and 31 March 2022. The infonnation
is presented in sterlin
Accour(ri￿G POLICIES
Bssis of preparing tl)e finAn¢i*l statements
The financial statemEnts of the ehatitsble company. which is a public benefjt entty under FRS 102. have b¢en
prepared in accordan:e with the Charities SORP ffils 102)'Accounting and Rwrting by Charities.. Siai¢metti
of Recommended Praetice appli¢able to charities preparin8 their ac£ouThis Ln accordance with the Financial
Reporting Standard ai)plitable In the UK and Republie of Ireland (FRS 1021 (effective l January 2019).. Financial
Reporting Standard l J2 The Financial Reporting Standard applicable in the UK and Repllblic of Ireland, and the
Companie5 Act ?OOI). The financial st*ernellt5 have been prepared under the hisiori¢al ¢osi ¢onveniion. as
modified by the revaluation of certain &¥sets.
4} Going ¢ott¢ern b¥$i$
The "Reserves Polic) and Goirtg Cortcern" section of the rnstee5' TerATrrt sets out various considerntions relative
to the going ¢oncem position of the Charity artd explains why the mjstees eontinue to adow the goit)g concern
basis in preparniion of these financial $￿eMen
bl Significant judgejnettts and ¢stimaies
The trnstees considcj. that th¢re art no ar￿ of judgement or estitnation whÉch M￿triallY affect the financial
statements.
Income
All income is recogn sed in the Ststement ofFir)athciai Activities once the charity has entitlement to the funds. it
is probable that the ircome will be received and ihe atllount can be measured reliably.
Voluntsry income is Y¢¢ived by way of dO￿l0￿S and is included in full in the Statement of Financial Activities
when receivable.
Other income in re5PXkn t of Services provided 15 rec￿￿1$¢￿ when. and to the extent that, ￿rfo￿nanCC occur5 and
is me&sured at the fair value of the considerdiion receivable.
Inie¥est on ￿rtd$ held on dep)sit is included when receivable and ihe amount can be measured reliably by the
charitable company.-this is normally urybn notification of the inieffsi w4id or payable by the bank.
Expenditure
Lsabilities are recoyiised &$ expenditure as 5(K)n as ihere is a legal or constructive obligation committing the
¢hariry to th￿ expeniliture. it is probable a transfer of econotnic benefits wtll be required in Settlement and
the amount of the obligation can be measured reliably. Expenditute 15 attounied for on an accruals basis and has
been ¢lassifi¢d unde.. htrddit)gs that aggrega￿ ail cost relatrd to the ¢￿t80ry. Illhere eosts cannot be directly
attributed to particular headings they have been allocated to activiti¢s on a basis consistent with the use of
resourG¢s.
[r￿￿)verable VAT iq charg&4 &5 a cosr against the activtty for which ihe expendan]re was ineurred.
Ch#ritsble activitie
Charitable expenditut comprises direct and 5UPP)rt o)sis_ Direct costs relate specifically 10 the delii'ery of golf
skills and employmejit training. Supwrt Costs are those costs that, whilsi necessary to deliverthe activity of golf
skills and employmeiit trairting, do noi themselves produce the output of the ¢harithbl¢ activity.
Page 16
continued...

ON COURSE FOUNDATION
Note5 to the Fallancial Stgttments- eontinued
for the Year Ended 31 March 2023
ACCOUNTING POLICIES- coTrtlDued
Govern&Dee costs
Governan¢e costs inc ude compliance with Constitution￿ and s￿￿tOry requireM￿ts.
Allocation and APtM)rtionmeNt of costs
Support costs include all those overhead costs of office, ulility ￿rViceS and other serwites and ¢ost& which ar¢ in
support of the activiti. They have been allocated to attivity cost categories on a basis ¢onsisient with the use of
resources.
Tangible fixed AsseL&
Depreciation is provided at ihe followin8 annual raies in orderto write off each asset over itscstlm￿ed useful lift.
OtTice equipment
- Straight line over 3 years
Tgxatio
The charity is exempt from ¢orp)r&ion t&x on its charitsble activities.
Fund xceounting
Unrestricted funds ¢wi be used in *cordan¢e with the charitable objectives at the discretion of the trustees.
Restricted funds can ctjly be used for particularresth¢ted purrK)ses within the objects of the charity. Restrictions
arise when specifi¢d by the dO[￿r or wh¢n funds are ral￿d for particular r¢siri¢ted pu[￿se5.
Further explanation o-.the natur¢ anil purpose of each fund is includa in the noies to thr financial ststements.
HRr¢ pureltase #Dd I￿$￿n¥ ¢ommltmettts
RetLla15 pasd under OFieraiing le&ses are eharged to the Swement of Financial Aetiviiies on a straight line b&fjis
over the period of the lease.
Pensi(bn COSt$ other post-reiiremeNt benefits
The eharitable CoMp￿]Y oper*es A deflned eontriblliion pet)sion scheThe. Contributions payable to the ¢haritsble
company's pension sc.ieme are charged to the Stataneni of Financia] A¢iiwities in the period to which they rela*_
Fin*ncial instrurntn
Th¢ ¢harity only h&5 1 inancial in5trurnenis of a kind that qualify as basic financial instruments. Basic finart¢ial
instruments initially recognised at transaction value and subsequently measured at their s¢ttl¢ment V￿uc.
Cash at b*￿k
Cash at bank inelud¢s bank dew)sÉt aceollnts and is measured at tra￿￿CtIon price.
Debtors
Trade and other debtory are T￿gnised at the settlemet)i amount due. Prepaymentsare reeognised at the invoi¢ed
cost pr¢paid.
Creditors
c￿ditOrS are re¢ognised when the charity a p￿sent obligation resulting from a p&st event that will probably
result in the transfer i)f funds to a third party and the amount due to settle the obligotion can be measured or
estimat¢d reliably. Creditors are nornially it￿gnISed at the settlement amowit.
Pag¢ 17
continued...

or4 COURSE FOUNDATION
Notes to the Financial StatsmentS- Colltittued
for the Year Ended 31 March 2023
tK)r4ATIONS AND LEGACIES
2023
2022
Ik)nations
Gift aid
541,981
4.840
521 ?72
4,951
546021
526,223
INVESTMEi4rt INLOME
21123
20?2
tkposit account inteiE5t
5.476
2,961
RAISING FUNDS
Raising donations *Rd legacies
21123
2022
Fundry4ising ¢osts
12.727
11.492
CHARITABLE ACTIVITIES COSTS
Golf skills and employmeni training
381.659
DIREcf COSTS OF CHARITABLE AcfiviTIES
2023
2022
Delivery co￿$
Staging costs
262,912
118747
261,504
98.136
381ffj59
359.640
Page 18
Continued...

ON COURSE FOUTr4DATION
otes to the Finantixl St*ttments- contillD¢d
for the Year Ended 31 March 2023
SUPPORT cosrs
Governance
cost5
Management
Totals
Golf skills and emplc,yment tia¥ning
183.292
4,620
187,912
Support ¢OSts, in¢luded in the alxkve. are as follows=
MAn*gemtnt
21123
2022
Total
activities
Total
aciiviiies
SalaTies & managemeni
Pensions
Office reNt
Rates and water
Insurance
Lighi and heat
Telephone
Postage and s¢ation¢iy
Sundries
Car parking
Sub515tence
Clothing
Computer costs & website
Bookkeeping
cl￿ning
Offjce maintenance
Subscriptions
Forei￿ exchange di-.Terence
lo5.(￿0
4,740
37.980
5,128
4,644
2J53
3.011
103,%M
4,6211
37,9811
5331
3095
lJ32
2JlS
1,262
445
654
391
17,492)
4,984
6J85
645
348
91
10
5,408
7.170
2.000
3.147
854
74
J08
14
167,896
Page 19
continued...

ON COURSE FOUNDATION
Notes to the Financial St•tÉ.rn¢nts- CODti￿ved
for the Yvdr Ended 31 i¥lareh 2023
SUPPORT cosrs- continued
Govern40¢e ¢o$ts
21123
Other
resources
expertded
2022
Tot
a¢tivitie5
Independent examtner's fee
42110
NET INCOMEI(EXPENDITURE)
Net incomeJ(expendiiurel is ststed afterchargintylcreditingl:
2023
2022
Other operdtin8 leases
37,980
i7.980
Independent examiner- independent extTnination
4,620
4,?00
TRUSTEES. REMI'NERATION AND BENEFITS
There were no irnstee's, reTnuThcration or other benefits for the year cndcd 31 March 2023 Tror for the year ¢nded
31 Mar¢h 2022.
Trnstees. expenses
DuTing the year. the trustees and rhe de fa¢to tTUSiC¢ charged trusrees. expenses of£0 {202I £0) in trspeclof travel.
subsistence and other costs incuned Whil￿ undertaking charitable aciiviiies.
STAFF COSTS
2023
2022
Wages and salaries
Social securiiy costs
Other pension costs
284,800
26,112
4.740
281,500
29.204
4.620
31S652
315.6?4
The averdge monthly nllmber of employees during the year w&$ &$ follows:
2023
2022
Stsff
(hhers
Page ?0
continued...

ON COURSE FOUNDATION
Noies to the Financial StateTnent5- continued
for the Year Ended 31 March 2023
12.
COMPARATIVES FOR THE STATEMEYT OF FIN￿￿cIAL A￿1vITIEs
Unresiriaed
fijnd
Ir4coME AND ENI)OWMENTS FROM
Ik)nations and lega¢i#
526223
Investsneni income
Total
529 184
EXPENDITURE ON
Rwsing fvnds
11,492
Charitable #etivitie5
Golf skills and emplcyment training
409,140
Other
122.596
Tot81
543228
Net gain￿{lOsSeS} on investments
NET INCOMEI(EXPEI%DITURE}
122,5661
RECOYCILIATIOiY OF FLPIDS
Total funds brought lJn¥ard
427,945
T(YfAL FUNDS CARRIED FORWARD
40i.379
13.
TATraGIBLE FIXED ASSETS
OtTic¢
Equipment
COST
At l April 2022 and."Jl March 20?3
42
DEPRECIATION
At l April 2022 and.ll March 2023
42.854
IYET BOOKVALUE
At 31 March 2023
At 31 Mar¢h 2022
Page21
continued...

ON COURSE FOUNDATION
iotes to the FinaThciY41 Statements- tontinlle
ror the Yeor Ended 31 March 2023
14.
SOCJAL INVESTMENTS
Other
investments
MARKET VALiiE
Ai l April 2022
Revaluations
241,478
21752)
At 31 March 2023
219,726
NET BOOK VALUK
At 31 Match 2023
219.726
At 31 MaTch 2022
241,478
COM or valuation at 31 March 2023 is represented by..
Other
investments
Valuaiiorl in 2022
Valuation in 2023
241.478
219,726
DEBTORS
21123
2022
Amounts falling due-within year=
Other debtors
Pr¢payments
29527
32,757
427
31.716
62284
Amounts falling due.ifier more than one year.
Other debtors
4.000
4,000
Aggr¢gat¢ amounts
66384
36,143
Page ??
continued...

ON COURSE FOUNDATION
Notes to tht Financial Stattments- continued
for ihe Year Ended 31 March 2023
16.
CREDITORS: AMC)UYTS FALLING DUE WITHIN ONE YEAR
d Inctsme
2023
2022
Balance broughi fon4ard
Amounis released io .neoming resources
Arnounts deferred in the y
93977
-93,977
176514
137,107
137,107
Balance carried forw.wd
176514
Ikferred income comprises donations rtteived in the yvar, which relate to events to ￿ held after the year end.
17.
LEASING AGREEMENTS
Minimum lease payments under non-¢an¢ellable operating Iwes f811 du¢ as follows:
2023
2022
Within one year
37.980
18.
MOVEMEiIT ITr4 FIJNDS
N¢t
movement
in fvnds
At
31.3.23
At 1.4.22
UDr¢stri¢ted funds
General fund
41W79
(51,753)
353.626
TOTAL FUNDS
405J79
51.753}
353,626
Net movement in fvnd& included in the aiK)ve a￿ as follow5..
locoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Lnrestrirted funds
GeneraI fund
552297
(582298)
(21.7S21
{51.753)
TOTAL FUNDS
552297
582298
21.7521
Page 2)
eontinued...

ON COURSE FOiiNDATION
r*otes to the Fin&ncixl Statements- CODtinued
for the Year End¢d 31 March 2023
MOVEMENT IN FiJf4DS- continued
Comparatives for mgvement ID fuDds
Net
movement
in funds
Ai
31.3.22
Ai 1.4.21
Unrestrieted
General fund
427.945
{22J661
405,379
TOTAL FUNDS
427.945
22,5661
405.i79
CoTnparative n¢t Mo￿tment fund& included in the above are as follows=
IncoTning
resources
R¢sourees
expended
Gain5 and
ios5e5
Mov¢m¢nt
in fllnds
Unrestricted funds
Genera] ￿Thd
529,184
(543228)
{8,52?1
{2?,5661
TOTAL FUNDS
529.184
{54i2281
.527}
22.566
A ¢urr¢nt year 12 months and prior year 12 Tnonths Combined pjsiiion is as follows:
Net
movement
in funds
At
31.3.23
At 1.4.21
i'Jnre5tricted fund5
General fund
427.945
{73,899)
354,046
TOTAL FUNDS
427,945
73 899)
354.046
A ¢urrent year 12 months and prior year l? months combined net movement in funds. included in th¢ above are
as follows:
Incoming
tesourtts
Resources
expended
Gains and
losses
Movem¢nt
in funds
Unrestricted hDds
General fund
1.081.481
{I,125,106)
(302741
(73.8991
TOTAL FUNDS
.081.481
11,l?j.1061
(iO.274)
{73,899
Page 24
continued...

ON COURSE FOUNDATION
Notes to the Fin#neial StAternenis- continued
for the Ye#r Ended 31 Marth 2023
19.
RELATED PARTY DISCLOSURES
There were no r¢lateO party transa¢tions for the year ended 31 March 2023.
211.
CHARITABLE COMPANY LI.MITED BY GL'ARAhTEE
Each member has a ￿.￿]MUM wktential liability of £10 in the event of the ch￿l￿ble company being wound up.
Pdge 25

OY COURSE FOUNDATION
Detailed Statement of Finatiti*l A¢tivilies
for the Year Ended 31 M4rch 2023
2023
2022
INCOME AND ENDOwmE￿rS
DoDAtions leg*cles
Donat1ts115
Gift aid
541.981
521.272
4.951
546121
526223
Investment income
Dep051t account interest
5,476
2,961
Total incomiDg resources
552297
529.184
EXPENDITURE
Raising dom*tions #Thd legALie5
Fundraising costs
J2,727
11,492
Ch￿ritable activiti¢s
Delivery costs
Social security
Staging costs
236WO
26,112
118.747
232.300
29,204
98,li6
381ffj59
359.640
Support Costs
Management
Salaries & mafia#ement
Pensions
Office rent
R*cs and water
Insurance
Light and heat
Telephone
Postsge and stationery
Sundries
Car parking
Subsistence
ClothiRg
Computer costs & websiie
B(x)kkeeping
Cl¢aning
Office maintenance
Subscriptions
Foreign exchange differenc-
105.000
4,740
37,980
5,128
4,644
IOi,500
4,6?0
37.980
5231
3,895
l.i32
2.815
1.262
445
6)4
i91
{7,4921
4,984
6.385
1,800
3,011
689
645
348
91
io
5,408
7,170
2,OIM
3,147
854
74
108
183292
167,896
Th s page does not fornj part of the statutory financial $￿ementS
Pdge 26

ON COURSE FOUNDATION
Detailed Statement of Finaiicial Activitits
for the Ye#r Ended 31 March 2023
2023
2022
Management
GowerD#n¢e costs
Independent examinerfs fee
4ffj20
4200
Total resources expended
582398
543,228
Net expenditsre before gaiiis alld losxs
{30WI)
114,0441
Re#lised reeogni5ed gains and losses
Realised gain￿{losSes) on pr.)gr￿￿rn¢ related
investttlents
21.752
Net expenditur¢
51.753
225661
This page th)e5 not form part of th¢ statutory financial statements
Page 27