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 2024
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr J Edwards Mr A Carpenter Mr C Gregory 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
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
CONTENTS 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
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their report and financial statements for the year ended 30 September 2024.
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:
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Education
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Disability Sport
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Elderly & Isolation
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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:
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People with physical and learning disabilities
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Hundreds of children across our schools network within the West Midlands
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Retirees who are at risk of sporting exclusion and/or declining health
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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 generated income of £104,395 in the year ending 30 September 2024 which was 22% higher than the previous year. As a result, we were able to increase our spending on charitable activities to £114,589 during the year (year ending 30 September 2023: £90,146).
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 (CONTINUED)
We would like to thank the following organisations for their generous donations during the last year:
Coventry City Council Coventry Builder’s Charity Coventry General Charities Coventry Supporters Club Dumbreck Charity Field Family Charitable Trust Green Hall Foundation Groundwork UK Lodders Solicitors Newfield Trust Sport England The 29[th] May 1961 Charitable Trust The McBride Charitable Trust The Warburtons Foundation The Woodward Trust 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.
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 (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 Mr P Rossborough Mr C Gregory Mrs M Pearson (resigned 1 February 2024) Mr M Varnom Mr J Edwards (appointed 1 February 2024) Mr A Carpenter (appointed 1 February 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 two of the trustees were also directors of Coventry Rugby Limited.
The Trustees’ report was approved by the Board of Trustees.
Mr J Edwards
Chair
Dated: 7 April 2025
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COVENTRY RUGBY COMMUNITY FOUNDATION UMITED INDEPENDENT EXAM114ERS REPORT I report to the charty Iwstees on ry examination of accourts of the rnPany for the rKJed 30 Soptemr 2024. vhwch •(e •ei on pag•• 6 to 13. ResponsibbIrt and bas of report As Ihe chanty truslees of the c(¥npany (and also rts directors fcK the purpose of ccffipany I) you are responsible for the preparatn of the accounts In aCCoance wrth the requiioments of the Cornpan Ad 21XE ('Ihe 2CHX Acr.) Having satisfied myself that the acc£Junts of the company afe not required to be audited urKler Part 16 of the 2006 Act and a el•ble for Independent examinatKJn. I report In respect of my examinatKJn of your c(MTpany'$ 4ccounts as cariied out under Seth'on 145 of the chariti.es Act 2011 {Ihe 2011 Acf). In Carng out my examinalion I haNe folkywed the dffections gNen by Charity Commlssion sectbon 146 Ib> of the 2011 A Irmlependerrt exwnIn5 Statement I have complet& my examinalN)n. I confirm that no rnatte have c(Kne to My attwrtion in conneclion Mth tl)• •xarnmtTh giving me rnu8• to beliew in any fr4terl rPecI. l. accnng r&ords were not kept in res ol ccxnpary as required by Section 386 of tt 2006 Act. 2. the accounts do not with those records, or 3. Ihe fin8naal statements do not comply wtth the accountlng requirements ol Seetion 396 of the 21 Act other than any rwjuirement that the ac(x)unt5 give a true arKJ fair view whth is not a matter cOnSered as part of an Independent eX8rrwnatn". 4. the financ1 slatoments havo nol b8en preparod in accordar vAlh tho mglhod8 and princ4)les of the Statement of Rec(xnmended Practice for acc¢)untirvJ and report by thafths applicable to charits preparing Ihew accounts in a¢¢offjanc• wlh th• Financial Repjrting Standard applic)le the UK IFRS 102). I have rK) cCOm8 orKI have come acrc48 Tx) 0r mattef8 in conn8th. wrth the examination to wthich atlentK)n Sh{ld be drwn in this in order to enalsp a proper und8rslandmg ol th¢ finaal 8tatthnents to be reached. Mi J W•lk•r
COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 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 2023 Fund balances at 30 September 2024 |
Unrestricte d Restricte d Total Total funds funds 2024 2024 2024 2023 £ £ £ £ 1,662 102,733 104,39 5 80,462 0 0 0 0 |
|---|---|
| 1,662 102,733 104,39 5 80,462 1,500 113,089 114.58 9 90,146 1,747 0 1,747 259 |
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| 3,247 113,089 116,33 6 90,405 -1585 -10,356 -11,941 -9,943 6,244 36,914 43,158 53,101 |
|
| 4,659 26,558 31,217 43,158 |
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.
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
BALANCE SHEET AS AT 30 SEPTEMBER 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Current assets | |||
| Cash at bank and in hand | 33,072 | 43.858 | |
| Creditors | |||
| Amounts falling due within one year | 9 | -1,855 | -700 |
| Net current assets | 31,217 | 43,158 | |
| Income funds | |||
| Restricted funds | 10 | 26,558 | 36,914 |
| Unrestricted funds | 4,659 | 6,244 | |
| 31,217 | 43,158 |
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 theirresponsibilities 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
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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
Mr J Edwards Chair
Company Registration No. 07366844
COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
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 £.
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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.
COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (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
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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.
COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (CONTINUED)
3. Grants and Donations
| 3. Grants and Donations | ||||
|---|---|---|---|---|
| Unrestricte | Restricte | |||
| d | d | Total | Total | |
| funds | funds | |||
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Grants | 267 | 99,248 | 99,515 | 77,518 |
| Subscriptions and | ||||
| donations | 1,395 | 3,485 | 4,880 | 2,944 |
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1,662 102,733 104,395 80,462
4. Investments Interest receivable
| Unrestricted | Restricted | Total | Total |
|---|---|---|---|
| funds | funds | ||
| 2024 | 2024 | 2023 | 2023 |
| £ | £ | £ | £ |
| 0 | 0 | 0 | 0 |
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (CONTINUED)
5. Charitable activities
| Sports camps, schools works and community activities Commission Hall hire Membership/tournament fees |
Communit y Wheelchair All Kids Total Total Unrestricted Team Rugby Active 2024 2023 £ £ £ £ £ £ 1,500 24,000 17,100 61,593 104,193 79,409 0 0 100 6,381 6,481 5,972 0 0 3,080 0 3,080 3,115 0 0 835 0 835 1,650 |
|---|---|
| 1,500 24,000 21,115 67,974 114,589 90,146 |
6. Other costs
| Marketing materials Bank charges Administration |
2024 2023 £ £ 1,308 0 276 246 163 13 |
|---|---|
| 1,747 259 |
COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (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
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals and deferred income | . | 1,855 | 700 |
10. Restricted funds
| Community Team All Kids Active Wheelchair Rugby |
Balance at Incoming Outgoing Balance at 01/10/2023 resources resource s 30/09/2024 £ £ £ £ 4,386 28,104 24,000 8,490 15,633 69,753 67,974 17,412 16,895 4,876 21,115 656 |
|---|---|
| 36,914 102,733 113,089 26,558 |
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 and netball club activities in schools and Project 500 camps.
The Wheelchair Rugby fund represents resources donated to promote senior and junior wheelchair rugby.
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COVENTRY RUGBY COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (CONTINUED)
| 11. Analysis of net assets between | ||
|---|---|---|
| funds | ||
| Unrestricte | Restricte | |
| d | d | |
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Fund balances at 30 September 2022 | ||
| are | ||
| represented by: | ||
| Current assets/(liabilities) | 4,659 | 26,558 |
12. Related party transactions
There were no disclosable related party transactions during the year (2022 nil.)
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