Charity registration number." 1143121 Exeter Chiefs Foundation Annual Report arKI Financial Slalemenls for the Year Ended 30 June 2025
Exeter Chiefs Foundation Contents {continuedl Reference and Administrative Details Trustees, Report 2103 Statement of Trustees, Responsibilities Independent Examiner's Report Stslemenl of Financial Actwities 6t07 Balance Sheet Notes to the Financial Slalements 9t020
Exeter Chiets Foundation Reference and Administrative Details ChaTity Rggl$tratlon Number 1143121 Trustees Mr A G E Rowe CBE Hon LLD Mr K Northcott Mr M Caines M8E Mr M Astley Mr D Bird Mr K Hassan MBE Principal Offlcg Sandy Park Stadium Sandy Park Way Exeter Devon EX2 7NN Accountant Thompson Jenner LLP 1 Collelon Crescent Exeter Devon EX2 4DG Bankers Barclays Bank PLC Page 1
Exeter Chiets Foundation Trustees. Report The trustees Pfesenl the annual report together with the financial statements of the charity for the year ended 30 June 2025. Mission Statement To prowde the city of Exeter and its surrounding areas wrth a 'Civic Tiusf that will promote our mmunily and pursue the vision of people who live and work there. The Foundation will act as a fundraising body wrth a commitment to the future prosperity of Greater Exeter. and also as a vehicle for promoting collective CIV pride. Structure Govemance and Management The ¢harrty was established under the dedaralion of trust dated 11 April 2011 as an unincorporated association and was registered with the charities commission on 27 July 2011. The charty is managed by the board of trustee5. There musl be al least 3 trustees. Apart from the first Iruslee, every Iruslee will be appointed for a term ol three years by resolution of the Iruslees. In selecting individuals for appointment as trustees, the trustees musl have regard to the skills, knowledge and experience needed for the effective administration of the Charty- New Iruslees are provided with an induction pack, an initial inductron programme, and on-goij training and support as required. All trustees gwe their lime Ireely and no remuneration or expenses were paid in the period. The day lo day running and adminislralion of the charrty is delegated by the board to Exeter Rugby Group Plc. Public Benefit Slalemenl The Iruslees confimi that they have Complied with their duty lo have due regard lo the guidance on public benefrt published by the Charities Commission. The Iruslees are confident that the aims and objectives of the charty. as Set out below. deliver a clear public benefrt lo the community within Exeler, East and Mid Devon. Page 2
Exeter Chiefs Foundation Trustees, Report Icontlnu8dl Aims an ives The ¢harily works wlh Exeter Rugby Club Limited and other k)cal businesses lo raise money through match day collections, donations and other fundraising activities. The charity dislribules these funds lo worthwhile local charitable causes within the Exeler, East and Mid Devon areas, wth the aim of improving future prosperity and promoting civic pride. The charity hopes to provide this through.. the relief of povety., the advancemgnl of education", the care of the eldedy, sick or infim.. the support of disadvantaged children and families,. the promlion of physical, inlelleclual, soclal and spiritual well&eing of individuals,. and any other charitabl8 purpose Achtevemenls and erformance During the period, the charity has raised £240,08012024 - £262.9651 from its charitable activiti8s and has made distributions of £152.58912024- £137,25?1 lo over 30 worthwhile local charrtable causes. In addition, the ITUStees have designated £10,00012024 - £31,944} at the period end as donations lo local causes agreed in principle and £12,212 for the Pa51 Player B8nevolent Fund 12024 £24,620) and £5,01712024- £4,311) for the Chiets, Engage PTogTamme fund. The charty, being mindful ol Charty Commission guidance, aims to maximise the use of available funds for the benefft of the citizens of Exeter and the surrounding area so far as is commensurate wi(h prudent levol of unrestllcted reseryes, taking into consideration the running expenses and known liabilitie5 of the charity. On this b8SlS the trustees consider that reserves held at 30 June 2025 of £100,126 {2024- £86.9281 to be appropriate. The annual repo behalf by.. approved by the trustees of the charity on and signed on its MrAGERowe Trustee Hon LLD Page 3
Exeter Chiefs Foundation Statement of Trustees. Responslbllities The trustees aTe responsible for preparing the Iruslees. report and the financial slalements in accordance with the United Kingdom A¢counting Standards (United Kingdom Generally Accepted Accounting Practice) and applicablè law and regulations. The law applicable lo charities requires the ITUStees to PTepare financial slalements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the chaiity for that period. In preparing these financial slalements. the Iruslees are required lo.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP., make judgements and estimates that ale reasonable and prudent., slate whether applicable accounting standards have been followed, Subject to any materia departures disclosed and explained in the financial slalement5, 8nd prepare the financial statemen15 on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The trustees aTe responsible for keeping proper accounting records that disclose wrth reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements Comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provision5 of the con51itulion. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees ale responsible for the maintenance and inlegrty Df the corporate and financial infom3tion included on the charitable Gompanws website. Legislation governing the preparation and dissemination of financi81 statements may differ from leg151alion in other jurisdictions. Approved by he truslees of the chanty on .................... and signed on ils behalf by.. MrAGER Trustee BE Hon LLD Page 4
Exeter Chiets Foundation Independent Examlner's Report to the trustees of Exeter Chiefs Foundatlon I report lo the Iruslees on my examination of the accounts of Exeter Chiefs Foundation for the year ended 30 June 2025. Responslbl1iti and basis of report As the chaity truste&s of Exeter Chiefs Foundation you are responsible for the preparation of the aOUnts in accordance wth the requirements of the Charities Act 2011 I'lhe Acri. I report in respect of my examination of the Exeter Chiefs Foundation's accounts carrted out under section 145 of the 2011 Act and in carying out my examination I have folfrd all the applicable Directions given by the Charity Commission under s8clion 14515}Ibl of the Act. Independent 8xamlner'$ statement I have completed my examination. I confim that no matsrial matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. 1. accounting records were not kept in respect of Exeter Chi9ts Foundation as required by section 130 of the Act., or 2. the accounts do not accoTd wi(h those records,. or 3. the accounts do not comply wth the accounting rJIrements con¢eming the fom and conlenl of accounts sel Dut in the Ct)arities {A¢counts and Reports) Regulations 2008 other than any requirement that the accounts give a 'truo and fair view, which is not a mattel considered as part of an independent examination. I have no concerns and have com& across no other matters in connection wrth the examinatDn lo which attention should be drawn in this report in order lo enable a proper understanding of tho accounts to be reached. Mr Dave Tucker Thompson Jenner LLP Institute of Chartered Accountsnls in England and Wales 1 Colleton Crescent Exetèr Devon EX2 4DG Date:............................. Page 5
Exeter Chiefs Foundation ststement of Financial Activities for the Year Ended 30 June 2025 Unrestrlcted funds Designated General Total 2025 Note Income and Endowments from: Donations and legacies Other trading actrvilies Investment income 73,558 116,245 50,135 142 189.803 50,135 142 Total Income 73,558 166,522 240,080 Expenditure on: Raising funds Charrtable activit5 Other expenditure 136,4391 167,8691 19,207 136.4391 1181,2361 9.207 1113,3671 Total Expenditure 113,367 113.5151 1226,8821 Net lexpendilurellincome Gloss transfers between funds 139,6091 6,163 53,007 16,1631 13,198 Nel movement in funds 133,6461 46,844 13.198 Reconciliation of fund$ Total funds brought forward Total fund5 Carried forward 60,875 26,053 86.928 16 27,229 72,897 100,126 ra these financial ststemenls. Page 6
Exeter Chiets Foundation statement of Financial Actlvltles for th8 Year Ended 30 June 2025 (continued) Prior year comparatlve UnTestTiCted funds Dosignated General Total 2024 Nots Income and Endowments from.. Donation5 and legacies Other trading activities Investment incomo 75,935 136,819 49.956 255 212.754 49,956 255 Total Income 75,935 187.030 262,965 Expenditure on: Raising funds Charitable adivitie$ Other expenditure 158,9721 151.9811 5.998 158,972) 1164,489) 5,998 (112.5081 Total Expenditure Nel lexpendilurellincome Gross transfers betsveen funds 112,508 116.951 229,459 136.5731 24,496 70,079 24,496 33,506 Nel movement in funds 112,Q7n 45,583 33.506 Reconciliation of funds Total funds brought forward Total funds carried forward 72,962 19.530 53,422 16 60,875 26,053 86,928 All of the charity'5 activities derive from continuing operatsons during the above periods. The notes on pago$ 9 to 20 fomi an integral part of these financial slatemenls. Pagè 7
Exeter Chiets Foundation (Regislration number: 1143121) Balance Sheet as at 30 June 2025 2025 2024 Note Fixed assets Tangible as5els 12 3,249 1,857 Current assets Oebtors Cash al bank and in hand 13 14 101,553 71,193 91,925 67,113 172.746 159,038 Creditors: Amounts falling due within one year Net CllTrent assets 15 75.869 73,9671 96,877 85,071 Net asset$ 100.126 86,928 Funds of the ¢harSty'. Unrestricted income funds Unrestricted funds 100,126 86,928 Total funds 16 100.126 86.928 The financ al nd ments on pages 6 10 20 were approved by the Iruslees. and authorised for issue on signed on their behalf by.. MrAGE Twslee CBE Hon LLO pa ese financial sialemenls. Page 8
Exeter Chiets Foundation Notes to the Financbal Statements for the Year Ended 30 June 2025 1 Accounting pollcles General infomiation The charity was established under the declaration of tnjsl dated 11 April 2011 as an unincorporated assochation. The Principal office of tho charity is.. Sandy Park Stadium Sandy Park Way Exeter Devon EX2 7NN Statement of compliance The financial slalements have been prepared in accordance wth the second edition of the Charities Slalement of Recommended Practice iSSLred in Odober 2019, the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2011. Basis of preparation Exeter Chiefs Foundation meets the definf(ion of a public benefit entity under FRS 102. The accounts (financial slatemenlsl have been prepared under the historical cost convention with ilerns recognised al cost or transaction value unless otherwise stated in the felevant notglsl to these accounts. Th8 financial statements are prepared in sterling, which is the functional currency of the charty. Golng concem The trustees nSIdr that there are no material uncertainties about the charty$ abilty to continue as a going Concern. Income and endowments Voluntary income including donations and legacies is recognised where there is enlrtlomonl to the income. certainty of receipt and the amount can be measured wth sufficient reliability. Investment income Investment income is recognised on a re1vable basis. Expendlture Liabilities are recognised as soor> as there is a legal or conslructThie obligation committing the charity to the expenditure. All expenditure is acwunl& for on an accruals basis and has been classified under headings that aggre9ale all costs related lo the category. Rain9 funds Costs ol generating funds are the costs associated wth attractin9 voluntary in¢ome. Charitable actlvitles Charitable expenditUTO compfises those costs incurred by the charty in the delivery of its activities and services for ils beneficiaries. 11 includes both costs that can be allocated directly lo such actr'vilies and thgse cost5 of an indirect nature necessary 10 5UPPOrt them. Page 9
Exeter Chiefs Foundation Notes to the Financial Statements for the Year Ended 30 June 2025 (continued) Grant provisions Provisions for grants are made when the intention lo make a grant has been communicated to the recipient but there is uncertainty about e((her the liming of the grant or the amount of grant payable. Support costs Support costs include ntral functions and have been allocated lo activity cost categories on a basis consislenl with the use of resources, for example, allocating property costs by floor areas, or per capila, staff costs by the time spent and other costs by their usage. Tangible fixed assets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Dèpr¢clatlon and amortisatlon Oeprecialion Is provided Dn tangible fixed assets so as to wiile off the cost or valuation, less any eslimaled re5Ual value, over their expected Ltseful economic life as follows". Asset class Equipment Depreciation method and rate 209/0 slraighl line Trade debtors Trade debtors are amounts due from customers for merchandise 501d or Services perfomied in the ordinary course of business. Trade debtors are recognised inilialty al the Iransactson price. They are subsequently measured al amortised cost using the effective interest method, less provision for impaimient. A provision foT the impairment of trade debtors is established when there is objective evidence that the charity will not be able lo collect all amounts due according lo the orKJinal terms of the receivables. Cash and cash equivalents Cash and eash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount ol cash and are subject to an Insignificant risk of change in value. Trade Credltors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course gf business from suppliers. Accounts payable are classified as current liabilities if the does not have an Ljncondilional right, al the end of the reporting period, lo defer settlement of the creditor for al least twelve months after the reporting dale. 11 there is an unconditional right lo defer settlefflenl for al least twelve months after the reporting dale, they are presented as non-cuttenl liabilities. Trade creditors are recognised inf(ialty al the transaction price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricted income funds are general funLts that are available for use al the trustees discli0n in furtherance of the objectives of the charity. Page 10
Exeter Chlefs Foundation Notes to the Financial Ststements for the Year Ended 30 June 2025 (continued) Designated fvnds are unreslrided tund$ sel aside for spe¢rfic purposes al the dire1)n of the trustee5. Page11
Exeter Chiets Foundation Notes to the Financial Statements for the Year Ended 30 June 2025 (continued) 2 Incom¢ from donatlons and legacies Unrestricted funds Total 2025 Total 2024 Designated General Donations and legacies.. FourKlation XV donations Bu¢kel Collections and Car Parking Other Donations 27,999 27,999 39,491 72.558 1.000 72,558 89,246 75,373 97,890 88.246 73,558 116,245 189,803 212.754 3 Income from other trading activities Unrestricted funds Designated General Total 2025 Total 2024 Events Income., Other events income 50,135 50,135 49,956 50.135 50,135 49.956 4 Investment income Unrestrlcted funds Total 202S Total 2024 Designated General Interest Teceivable and similar income., Interest receivable on bank deposrts 142 142 255 Page 12
Exeter Chiefs Foundation Notes to the Flnanclal Statements for the Year Ended 30 June 2025 Icontinued} S Expenditure on ralsing funds al Costs of genorating donatlons andlggacies Unrestrlcted Total 2025 Total 2024 Deslgnated General Marketing and publicty Other dired costs of generating voluntary income 440 440 1,218 3,234 3.234 1,025 2,243 3,674 3,674 bl Costs of trading activities Unrestr5ct8d funds Oeslgnated Genoral Total 2025 Total 2024 Nolo Events and conferences 32.765 32.765 32,765 56,729 32,765 56,729 Total 202S Total 2024 Dlro¢t costs Costs of generating donations and legacies Costs of trading activities 3,674 32,765 3,674 32,765 36,439 2,243 $6,729 36,439 58,972 Page 13
Exeter Chiefs Foundation Notes to the Flnancial Statements for the Year Ended 30 June 2025 (continued} 6 Expenditure on charitable activitie$ Unr&strl¢tsd funds Dgnated General Total 2025 Total 2024 Note Players benevolent fund Chiets, Engage Programme Grant funding of activrtie5 staff costs 12,408 12,408 6,627 294 294 4,198 100,665 51.924 15,945 152,589 15,945 137.251 16,413 113,367 67,869 181,236 164,489 7 Other expenditure Unrestricted funds Designated General Total 2025 Total 2024 Depreciation. amortisalion and other similar costs Other resources expended 2.184 7.023 2,184 7,023 9,207 2,335 3,863 9.207 5.998 8 Gfant-making Anatysis of grants Grants to institutions 2025 2024 Anatysis Educabon Medical r&sear¢h and support Social welfare Social welfare and education through sport Social welfare for the eldedy 3,223 26,741 27,633 89,507 5.485 1,689 23,329 25,898 80,393 5,942 152,589 137,251 Page 14
Exeter Chiefs Foundation Notes to the Financial Ststements for the Year Ended 30 June 2025 (continued) Below are detsils of material grants made to institutions by the charity. 2025 2024 Name of institution Adventure Therapy Age UK 8albons Bower Canr Support BTain Tumour Support Childrens Hospice South Wesl Co Create Exetei CIC Cranbrook ArTOWS Netball Dam-A-W8Y ELF Eststutory League of Fr¢end8 Exeter Athletic RFC Exeter Communty Transport Association Exeter Hockey Club Exeter Food Action Exeter Leukaemia Fund Exeter Lions Club Exeter Lfftle Theatre Exmoor Calvert Trust Fearfree FORCE HITZ Honilon Carers Ils in the bag Jals Aim Julian House Living Options Devon Love St Thomas Maddys Mark Mix- Scartetts MNDA Exeter Morelonhampslead Swmming Pool National Coast Watch Exmouth Parental Minds On The Hill RDE NHS Trust Royal Devon Hosprtal Charity Royal Marin8s Charity See the Future SKlmoulh Bowling Club 1,000 5,942 1,188 5,485 1.508 4,663 1,988 2,257 1,000 3,154 3,497 7,500 5,760 2,752 1,876 5,504 4,879 1,950 1.500 13.988 2.500 8,898 1.939 4,503 5,691 5,000 2,698 1,7S1 2,252 16,911 1,029 2,057 500 1.440 8,898 1,439 3,502 1,000 1,000 1,029 1,100 1,376 1,126 2,502 400 2,537 500 1.371 4.410 1,876 2,331 2,468 1,508 10,000 11,801 1,876 Page 15
Exeter Chiets Foundation Notes to the Financial Statements for the Year Ended 30 June 2025 (continued) Soulhwesl MS Therapy Centre South West Blood Bikes Stanley Beau Foundation The Bro Project The Childrens Society The Stroke Assocsation Thorverton Cricket Club Topsham Swimming po Vranch House Weslbank Community Health and Care Weslcountry Hav4k5 Wheelchair Rugby Withycombe RFC Wooden Spoon Devon Yoga for the Frontline Zero Mile Garden 2,263 2,057 1,000 1,126 1,029 1.029 1,028 1,000 3,500 15,000 3,223 1,689 6,954 1,029 1,314 25.000 8,131 2,000 6,926 1.234 1,754 152,589 137.251 9 Trustses remuneration and expenses No trustees, nor any persons Connected with them, have received any remuneration from the charity durin9 the period. No trustees have received any reimbufsed expenses or any other benefits from the charity during the period. Donations made by the trustees wthout any conditions attached lotalled £100 fr)r the year 12024 £751 10 Stsff ¢o$t$ The aggregate payroll Costs were as follows.. 2025 2024 Staff ¢osts during the yearweTe- Wages and salaries 75,945 16,413 The monthly average number of persons (including senior management I leadership leaml employed by the charity during the year expressed a5 full lime equivalents was as follows.. 2025 No 2024 No Adminislralion No employee received emoluments ol more than £60,000 during the year Page 16
Exeter Chiets Foundatlon Notes to th8 Financial Statements for the Year Ended 30 June 2025 {contlnuedl 11 Taxation The charity is a registered charity and 18 therefore exempl from taxation. 12 Tanglble tlxed ass•ts Furnlture and oquipment Total Cost AI 1 JLbly 2024 Additions 11,679 3,576 11,679 3,576 AI 30 June 2025 15,255 15,255 Doprgclation At 1 July 2024 Charge tor the year 9,822 2,184 9,822 2,184 At 30 June 2025 12,006 12,006 Net book value AI 30 June 2025 3,249 3.249 AI 30 June 2024 1,857 1,857 13 Debtors 2025 2024 Trade debtors Other debtors 10,000 91,553 13,860 78,Ck85 91,925 101,553 14 Cash and cash aquivalgnts 2025 2024 Cash * bank 71,193 67,113 15 CreditoTs- amounts falllng due within one year 2025 2024 Trade creditors other credito 1,488 74,381 5,922 68,045 75,869 73,967 Page 17
Exeter Chiets Foundation Notes to the Financial Statements for the Year Ended 30 June 2025 (continued) 16 Funds Balance at 1 July 2024 8alanc& at 30 Jung 2025 Incomlng Resourc0$ resources expeTrdgd Translers Unrestricted funds General Unresliicled income fund 26,053 166,522 {113.5151 16,1631 72,897 Designated Exeter Rugby Club match day bucket and car parking donations Donations aged in principle Past Player Benevolent Fund Chiefs, Engage Programme fund 72.558 {71,3791 11,1791 31,944 129,2861 7,342 10,000 24,620 112,4081 12,212 4311 1,000 2941 113,367 5,017 60.875 73.558 6,163 27.229 Total funds 86,928 240,080 1226,882} 100,126 Page 18
Exeter Chiefs Foundation Notes to the Financlal Ststements for the Year Ended 30 June 2025 (continued) Balance at 30 Jun8 2024 Balance at 1 July 2023 Incomlng Rosou05 rosources oxpendgd Transfer5 Unrestrlcted funds General Un$t[iCted income fund {19,530} 187,030 1116.9511 124,4961 26,053 Designated Exeter Rugby Club malch day bucket and car parking donations Donations agreed in principle Past Player Benevolent Fund Chiets, Engage Programme fund 68.746 168,0451 17011 40,385 133,6381 25,197 31,944 24,620 6,627 {6,6271 24,620 7,947 4,198 112,508 4,311 60,875 72,952 75,935 24,496 Total funds 53,422 262,965 229,459 86,928 The specific purposes for whi¢h the funds are to be applied are a$ follows.. Unrestricted funds comprise those funds which the trustees are free lo use in accordance wf(h the charitable objects. The match day bucket and car parkn'ng donations designated fund relates to the collections by and subsequent distributions to nominated charitie9. Any unused match day bucket and car parking donations are transferred lo the general fund for distribution to other causes. The donations agreed in principle designated fund consists of donations which have been agreed in principle, bul not finalised at the period end dal8. The designated past player benevolent fund is a reserve set aside to provide assistance, if ne8ded, to former players of the Exeter Chièfs. The designated Chiefs, Engage Programmo donations have been inslTumental in enabling the Chiefs, Engage Programme, an educational programme run by the Exeter Chiefs Community and for 18 to 24-year-old$ not in education, employment or training the chance lo provide an array of valuable activities and experiences ftir students. Fostering not only their physical well-being but also their personal and social development. Thank5 to these donations, the programme has been equipped with the nesSary resources and equipment lo offer diverse physical activity experiences. This fsnancial ba¢king has been pivotal in ensuring Ihat the programme continues lo enrich the lives of students by offering them opportunrtifjs that might otherwise have been Inaccessible. Page 19
Exeter Chiets Foundation Notes to the Financial Statements for the Year Ended 30 June 2025 (continued) 17 Anatysis of net assets betweèn funds Total funds at 30 June 2025 Unrestricted funds General Designated Tangible fixed assets Current assets Current liabilities 3,249 71,136 1,4881 3,249 172,746 75,8691 101,610 174,381 Total net assets 72,897 27.229 100.126 Total funds at 30 June 2024 Unrestricted funds General Designated Tangible fixed assets Current assets Current liabilities 1,857 30,118 {5,9221 1.857 159,038 73,9671 128,920 168,045 Total net asset5 26,053 60,875 86.928 18 Related party transaGtions During the year the charity made the following related party Iransackn'ons.. MrAGE Rowe CBE (Diredor of Exeter Rugby Club Limiledl Mr AGE Rowe CBE is also a d1Ctor of Exeter Rugby Club Limited. During the period the Charity paKI £13,633 12024 £13,488) lo Exeter Rugby Club Limited to cover the admini5tralion costs of the charity. The charity also purchased ealering facilities frorn Exeter Rugby Club Limited amounting lo £16,597 12024 £31,591}, including lo h051 the Exeter Chiefs Foundation Christmas Lunch. Al the period end, £1,407 (2024 - £5,265) was due lo from Exeter Rugby Club Limrted. Exeter Rugby Club Limited had a company loan al 30 June 2025 of £91.55312024' £78,065). At the balance sheet date the amount due tomrom Mr AGE Rowe CBE was £Nil12024 - £Nill. Page 20