Charity Registration No.1141651 Company Registration No.07366844 (England and Wales) # **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023** ## **LEGAL AND ADMINISTRATIVE INFORMATION** Trustees Mr E Holt Mr J Edwards Mr A Carpenter Mr C Gregory Mrs M Pearson Mr P Rossborough Mr M Varnom Charity number: 1141651 Company number: 07366844 Registered office: The Butts Arena Butts Coventry CV1 3GE Independent examiner Jeff Walker ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** **CO NT E NT S** Page Trustees’ report 2-4 Independent examiner’s report 5 Statement of financial activities 6 Balance Sheet 7 Notes to the financial statements 8-13 1 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023** The trustees present their report and financial statements for the year ended 30 September 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** The charity’s core objective is to lower barriers to sport and promote health equality within the local area. It achieves this by creating and running community programmes that increase access to sport for targeted groups who may otherwise have been marginalized and/or unable to participate. Currently, the charity runs programmes under four main themes: - ➢ Education - ➢ Disability Sport - ➢ Elderly & Isolation - ➢ Youth Intervention. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake. ## **Achievements and performance** The Foundation continually looks to expand the scope of its programmes to maximise the benefit to the local community within the constraints of the available funding. Via these programmes our objective is to engage with and support the following groups: - ➢ People with physical and learning disabilities - ➢ Hundreds of children across our schools network within the West Midlands - ➢ Retirees who are at risk of sporting exclusion and/or declining health - ➢ Disadvantaged youths facing health inequalities and who are dependent on state programmes within their schools. Our objective is to see this investment increase each year and with the support of Coventry Rugby Club we are able to offer the use of the world class facilities of the Butts Park Arena. I am pleased to report that The Foundation spent £90,146 on charitable activities during the year ending September 2023 (year ending 30 September 2022: £113,998). 2 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** We would like to thank the following organisations for their generous donations during the last year: The Albert Higgs Trust Barbara Ward Foundation Baron Davenports Charity The Blakemore Foundation The Bruce Wake Charitable Trust Capita Coventry City Council Coventry Builder’s Charity Coventry Supporters Club Douglas Arter Foundation The Eveson Charitable Trust Jack Garton’s Charity The Lennox Trust Souter Organisation The Warburtons Foundation The Wesleyan Foundation Wheelwrights Charity Various contributions from private individuals Without these generous contributions Coventry Rugby Community Foundation charitable work would not be possible. We would also like to thank Coventry Rugby Club for the support and use of their facilities. ## **Financial review** The financial transactions of the charity are shown on pages 6 to 13. The trustees consider the financial position of the charity to be satisfactory. The charity, at this stage, has no intention of building long term free reserves. It will retain sufficient funds to fulfil pledges made for projects, etc., but the intention is to put raised funds back into the community projects as quickly as possible, to achieve their maximum purpose. 3 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The Foundation meets generally monthly throughout the year and minute records are kept of all meetings. ## **Structure, governance and management** The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served during the year were: Mr E Holt (resigned 1 January 2024) Mr P Rossborough Mr C Gregory Mrs M Pearson (resigned 20 September 2023) Mr M Varnom Mr J Edwards (appointed 1 January 2024) Mr A Carpenter (appointed 1 January 2024) New trustees are recruited and appointed by the existing trustees. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding-up. The charity uses the facilities of Coventry Rugby Club. During the year one of the trustees was also a director of Coventry Rugby Limited. The Trustees’ report was approved by the Board of Trustees. ## **Mr J Edwards** ## **Chair** **Dated:** 25 June 2024 4 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **INDEPENDENT EXAMINERS REPORT** I report to the charity trustees on my examination of the accounts of the company for the year ended 30 September 2023, which are set out on pages 6 to 13. ## Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act"). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under Section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the directions given by the Charity Commission under section 145 (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe in any material respect: 1. accounting records were not kept in respect of company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the financial statements do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. 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 (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. Mr J Walker 5 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023** |**Notes**
**Income from:**
Grants and donations
**3**
Investments
**4**
**Total income**
**Expenditure on:**
Charitable
activities
**5**
Other costs
**6**
**Total costs**
**Net income/ (expenditure)**
Fund balances at 1 October 2022
**Fund balances at 30 September 2023**|**Unrestricted Restricted**
**Total**
Total
**funds**
**funds**
**2023**
**2023**
**2023**
2022
£
£
£
£
474
79,988
80,462
90,705
0
0
0
0| |---|---| ||474
79,988
80,462
90,705
0
90,146
90,146
113,998
259
0
259
1,236| ||259
90,146
90,405
115,234
215
-10,158
-9,943
-24529
6,029
47,072
53,101
77,631| ||6,244
36,914
43,158
53,102| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 6 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **BALANCE SHEET AS AT 30 SEPTEMBER 2023** ||**Notes**|**2023**|2022| |---|---|---|---| |||£|£| |**Current assets**|||| |Cash at bank and in hand||43,858|54,769| |**Creditors**|||| |Amounts falling due within one year|**9**|-700|-1,667| |**Net current assets**||43,158|53,102| |**Income funds**|||| |Restricted funds|**10**|36,914|47,073| |Unrestricted funds||6,244|6,029| |||43,158|53,102| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022. The trustees acknowledges his responsibilities for ensuring that the charity 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 the end of the financial year and of its incoming resources and application of resources, including the income and expenditure, for the financial year in accordance with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 8[th] May 2024 ## **Mr J Edwards Chair** Company Registration No. 07366844 7 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023** ## 1 **Accounting policies** ## **Charity information** Coventry Rugby Community Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Butts Arena, Butts, Coventry, CV1 3GE. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. 8 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** ## **1.5 Resources expended** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fees and costs linked to the strategic management of the charity. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## 2 **Critical accounting estimates and judgements** In the application of the charity's accounting policies, the trustees are required to make judgements , estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 9 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** ## **3. Grants and Donations** |**3. Grants and Donations**|||| |---|---|---|---| |Grants
Subscriptions and
donations|**Unrestricted Restricted**
**funds**
**funds**
**2023**
**2023**
£
£
0
77,518
474
2,470|**Total**
**2023**
£
77,518
2,944|Total
2022
£
87,005
3,700| ||474
79,988|80,462|90,705| ## **4. Investments** |**4. Investments**||||| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|**Total**|Total| ||**funds**|**funds**||| ||**2023**|**2023**|**2023**|2022| ||£|£|£|£| |Interest receivable|0|0|0|0| 10 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** ## **5. Charitable activities** |Sports camps, schools works
and community activities
Commission
Sports equipment
Hall hire
Membership/tournament fees|**Community**
**Wheelchair**
**All**
**Kids**
**Total**
Total
**Unrestricted**
**Officer**
**Rugby**
**Active**
**2023**
2022
**£**
**£**
**£**
**£**
**£**
£

0
24,000
9,000
46,409
79,409
104,060
0
0
2,300
3,672
5,972
5,853
0
0
0
0
0
750
0
0
3,115
0
3,115
1,130
0
0
1,650
0
1,650
2,205| |---|---| ||0
24,000
16,065
50,081
90,146
113,998| ## **6. Other costs** |Marketing materials
Bank charges
Administration|**2023**
2022
**£**
£
0
600
246
248
13
388| |---|---| ||259
1,236| 11 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** ## **7. Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year and no expenses were reimbursed. ## **8. Employees** There were no employees during the year. ## **9. Creditors: amounts falling due within one year** |||**2023**|2022| |---|---|---|---| |||**£**|£| |Accruals and deferred income|.|700|1,667| ## **10. Restricted funds** |Community Team
All Kids Active
Wheelchair Rugby|**Balance at**
**Incoming**
**Outgoing**
**Balance at**
**01/10/2022**
**resources**
**resources**
**30/09/2023**
**£**
**£**
**£**
**£**
8,825
19,561
24,000
4,386
29,041
36,673
50,081
15,633
9,206
23,754
16,065
16,895| |---|---| ||47,072
79,988
90,146
36,914| The Community team fund represents resources donated towards the Foundation Manager and Community Officer costs. The All Kids Active fund represents resources donated for rugby club activities in schools and Project 500 camps. The Wheelchair Rugby fund represents resources donated to promote wheelchair rugby. 12 ## **COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)** ## **11. Analysis of net assets between funds** |**11. Analysis of net assets between**
**funds**||||| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|**Total**|Total| ||**funds**|**funds**||| ||**2023**|**2023**|**2023**|2022| ||**£**|**£**|**£**|£| |Fund balances at 30 September 2022||||| |are||||| |represented by:||||| |Current assets/(liabilities)|6,244|36,914|43,158|53,102| ## **12. Related party transactions** There were no disclosable related party transactions during the year (2022 nil.) 13