DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**REGISTERED COMPANY NUMBER: 07956602 (England and Wales) REGISTERED CHARITY NUMBER: 1151127** 

**RIO FERDINAND FOUNDATION (A COMPANY LIMITED BY GUARANTEE)** 

**REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

Cox Costello & Horne Chartered Accountants and Tax Advisors 26 Main Avenue Moor Park HA6 2HJ 



**RIO FERDINAND FOUNDATION** 

**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Financial Statements**|10 to 17|





DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

**REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022** 

## **TRUSTEES** 

B Crookes-Martin R G Ferdinand J G Townsend J D Benson M R Profitt (appointed 1.4.21) 

## **COMPANY SECRETARY** 

Kerry Secretarial Services Limited 

## **REGISTERED OFFICE** 

C/O Cox Costello & Horne 26 Main Avenue Moor Park HA6 2HJ 

**REGISTERED COMPANY NUMBER** 07956602 (England and Wales) 

## **REGISTERED CHARITY NUMBER** 1151127 

## **INDEPENDENT EXAMINER** 

Cox Costello & Horne Chartered Accountants and Tax Advisors 26 Main Avenue Moor Park HA6 2HJ 

## **WEBSITE** 

rioferdinandfoundation.com 

## **Board of Trustees** 

The charity shall have a board of trustees comprising not less than two trustees. The board of trustees shall be elected by and from the charity members. The composition of the board of trustees shall be reviewed every year using procedures set out by the board of trustees. 

The Articles of Association allow for the trustee or former trustee of the charity to be indemnified out of the charity's assets against any liability included by the trustee. The trustees may purchase and maintain insurance at the expense of the charity for the benefit of any trustee or former trustee in respect of any loss or liability incurred in connection with their duties or powers in relation to the charity. 

Page 1 



DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019). 

The Report of the Trustees also represents the Directors' Report as required by Company Law. 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

The Rio Ferdinand Foundation ("RFF") seeks to address inequality and poverty through the provision of training, opportunities and pathways for young people to achieve their potential. To deliver against this mission the Foundation has four key pillars of work: 

- Safe spaces for young people; 

- Physical and mental health and wellbeing; 

- Stronger, safer and more inclusive communities; and 

- Progression pathways. 

Within these pillars of work the Foundation delivers the following activities: 

- Grassroots sports, arts and educational activities to engage and support young people. 

- Personal development programmes to build confidence, skills and networks; 

- Accredited training pathways to build vocational skills; 

- Volunteering and work placement opportunities to build experience; and 

- Signposting pathways to further education, training and employment. 

The Foundation particularly targets provision with working class communities and those facing additional economic and social disadvantage such as minority ethnic groups and those living in poverty. 

## **Public benefit** 

The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. 

## **Volunteers** 

RFF's projects benefit greatly from the commitment and support of a number of volunteers and their contribution is gratefully acknowledged. The contributions of volunteers have been excluded from the Statement of Financial Activities as the value of their contribution to the charity cannot be reasonably quantified in financial terms. 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 

## **STRATEGIC REPORT Achievement and performance** 

## **Charitable activities** 

2021-22 continued to be a challenging year for the Rio Ferdinand Foundation as the Covid-19 pandemic continued to impact on our work with continuing lockdowns in the early part of the year, ongoing restrictions on engagement and a very changed set of challenges for the young people and communities with which we work as we returned to face to face delivery. 

The willingness of funders to re-profile their grants and investments helped mitigate some of these challenges, allowing us to continue to be flexible in returning to work with young people and responding to need, so our core infrastructure remained stable. Some of our private sector sponsorship was again deferred or subject to renegotiation which impacted on our growth as an organisation, however towards the end of the year with funding confirmed for 2022-23 the organisation retained staff through using unrestricted reserves to ensure our services were continued. 

In terms of delivery, the Rio Ferdinand Foundation continued to invest in online learning and new digital programmes that enabled the organisation to continue to support young people online, combined with socially distanced outreach work and engagement where possible in the earlier part of the year, whilst the latter part of the year our face-to-face delivery focused on rebuilding relationships and building the confidence and networks of the young people with whom we work. 

The Rio Ferdinand Foundation delivered a number of key performance indicators to be noted in 2021-22: 

-  Continued investment in new equipment and ways of working to make our venues Covid safe for staff and young people as we returned from covid. 

-  Launching a new portfolio of branding, communications, website, and social media with significant input from young people and communities. 

-  Ongoing development and implementation of a new partnership with the UEFA Foundation to train and support young people to deliver social action projects to tackle racism and division in Northern Ireland and Ireland, culminating in the BT Sport sponsored Hope Cup in the Summer of 2021 and subsequent broadcast documentary. 

-  A new pilot partnership with Warner Music to inspire young people to build skills and employability in the music industry from October 2021. 

-  A new partnership with the Gym Group to inspire young people to build skills in the fitness industry. 

-  Established new partnerships with Housing Associations in London and Manchester. 

-  Continuing ongoing relationships with existing funders to find new ways of working to respond to the challenges of post pandemic society. 

Overall, the organisation has sustained its activities in supporting communities and young people through an extremely challenging year, while establishing new networks, partnerships and working practices to build a platform for growth in 2022-23. 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 

## **STRATEGIC REPORT Financial review** 

## **Principal funding sources** 

During the year the principal source of funds came from a mixture of avenues including: 

£58,128 from Statutory sector grants including: 

Salford City Council - £300 Oldham Opportunity Area - £40,000 Police Service Northern Ireland - £10,000 Manchester Violence Reduction Unit (VRU) - £7828 

## **2) Grant giving Trusts and Foundations:** 

£167,358 from Grant Giving Trusts and Foundations including: 

London Community Foundation The National Lottery Community Fund Children in Need Sport England London Sport One Oldham Fund Youth Investment Fund Safe Lives UK Active 

## **3) Corporate Investment:** 

£121,371 from commercial donations and sponsorships including: 

Warner Music UK UEFA Children's Foundation The Gym Group We Are 8 

## **4) Housing Associations:** 

£32,000 from Housing Association partnerships including 

The Guinness Social Partnership 

L&Q Foundation 

## **5) Earned income:** 

£13,721 from delivery of services and training 

Page 4 



DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 

## **STRATEGIC REPORT Financial review Reserves Introduction** 

The Charity Commission recognises the need for charities to hold sufficient reserves to secure their viability beyond the immediate future and to protect themselves against future uncertainties. It recommends that charities should be able to demonstrate, by reference to the charity's current position and future prospects, why holding a particular level of reserves is right for the charity at the present time. Responsibility for establishing an appropriate reserves policy lies with the trustees of the charity. 

The charity's reserves are allocated to two different types of fund in its financial statements: 

## **Restricted funds** 

These funds relate to unspent money from grants and other incoming sources where the funder has specified what the money must be spent on and the trustees do not have the power to use the funds for other purposes. 

## **Unrestricted funds** 

These funds relate to unspent money from grants and other incoming sources where the funder has not specified what the money should be spent on thereby granting the trustees full control to spend on general activities which further the objectives of the charity. 

The following relates to the level of unrestricted funds needed by the charity. 

## **Reasons for reserves** 

Unrestricted reserves may be needed to provide cover and security in the following events: 

-  any salary, administration, accommodation and support costs, without which the charity could not function, in the event of a loss of or reduction in funding; 

-  any notice and redundancy costs should it be necessary to reduce core staffing levels, or if project staff cannot be redeployed when funding comes to an end; 

- any working capital when funding is delayed or paid in arrears; 

- any deficits arising on restricted funds; 

-  any unbudgeted events such as sickness, maternity leave, recruitment to fill existing posts, unexpected replacement of capital items; and 

-  any other risks and unforeseen expenditure which may arise that are beyond the charity's control and cannot be met from existing income. 

## **Policy and procedures** 

The trustees have reviewed the level of reserves needed by the charity and agreed that: 

-  the charity should aim to hold unrestricted reserves which are sufficient and will normally exceed three month's estimated operating costs for the organisation as a whole during the following 12 months; 

-  should reserves fall below the stated level, the trustees and the chief executive will endeavour to raise additional unrestricted funds as a matter of urgency, or take steps to reduce operating costs; and 

-  a summary of this reserves policy and a statement regarding the current level of reserves will be included in the charity's annual report, as required by the Charity Commission's SORP (Statement of Recommended Practice). 

## **Reserves review** 

The level of reserves will be reviewed annually by the trustees, and charity's financial position will be monitored by the trustees on a regular basis (unless financial circumstances require a more urgent change). 

## **Future plans** 

Key plans for the development of the charity in 2022-23 include: 

-   Appointment of a Training and Progression Manager to lead on the establishment of our training and employability offer. 

-   Enhanced fundraising and engagement with the corporate sector to build to extend the range and breadth of our services to young people and build a mixed economy approach to reduce reliance of grant funding bodies. 

- Launch of two pieces of independent research to inform our work in Ireland and in the employability space. 

- Review of staffing structure and project implementation in light of new funding. 

Page 5 



DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

RFF is a charitable company limited by guarantee without share capital, as defined by the Companies Act 2006. The charitable company was incorporated on 20th February 2012 and is governed by its Memorandum and Articles of Association. 

## **Charity constitution** 

RFF is a company limited by guarantee without share capital, as defined by the Companies Act 2006. and is a registered charitable company with the Charity Commission. 

RFF was registered as a charity, dated 7th March 2013, with the Charity Commission. 

## **Membership** 

The charitable company has no share capital, but in the event of the company winding up, the members have undertaken to contribute a sum not exceeding £1 to the assets of the company. Trustees are not members as individuals and therefore do not hold guarantees. 

## **Financial statements** 

The financial statements comply with the Charities Statement of Recommended Practice - Accounting and Reporting by Charities FRS 102 effective January 2019,  the Companies Act (2006) and the requirements of the charity's governing documents. The trustees' report and financial statements are submitted to the Charity Commission and Companies House following approval by the membership at the AGM. 

## **Recruitment and appointment of new trustees** 

The Board of Trustees can appoint new trustees by Ordinary Resolution. New trustees are appointed who have a knowledge and experience of the youth, sports and education sectors and can bring additional skills to grow and sustain the Foundation. 

## **Organisational structure** 

The charity is managed by regular trustees meetings. 

On a day to day basis the business is managed by the Chief Executive Officer, responsible for the wider strategy and performance of the charity and its obligations. 

## **Induction and training of new trustees** 

New trustees are provided with a one to one briefing of the charity's objectives and procedures and their own responsibilities as a trustee. 

## **Risk management** 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

Risks and risk management are discussed at board meetings, with the Chief Executive and senior staff team flagging new risks with trustees as they occur. 

The trustees believe that it is appropriate to prepare the financial statements on a going concern basis. More details of this are included in note 1. 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company 21 December 2022 directors, on ............................................. and signed on the board's behalf by: 

........................................................................ B Crookes-Martin - Trustee 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIO FERDINAND FOUNDATION** 

## **Independent examiner's report to the trustees of Rio Ferdinand Foundation ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. 

## **Responsibilities and basis of report** 

As the charity's trustees of the Company (and also its directors for the purposes 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 charity'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(5) (b) of the 2011 Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies. 

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: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Michael F Cox FCA Institute of Chartered Accountants in England and Wales Cox Costello & Horne Chartered Accountants and Tax Advisors 26 Main Avenue Moor Park HA6 2HJ 21 December 2022 Date: ............................................. 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>Notes<br>£<br>£<br>**INCOME FROM**<br>Donations<br>16,682<br>7,161<br>**Charitable activities**<br>Grants<br>180,267<br>204,302<br>Community projects<br>28,628<br>2,534<br>Other income<br>-<br>-<br>**Total**<br>225,577<br>213,997<br>**EXPENDITURE ON**<br>Raising funds<br>-<br>-<br>**Charitable activities**<br>Community projects<br>197,852<br>273,022<br>Other<br>3,550<br>706<br>**Total**<br>201,406<br>273,728<br>**NET INCOME/(EXPENDITURE)**<br>24,175<br>(59,731)<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>8,854<br>78,609<br>**TOTAL FUNDS CARRIED FORWARD**<br>33,029<br>18,878|31.3.22<br>Total<br>funds<br>£<br>23,843<br>384,569<br>31,162<br>-<br>439,574<br>-<br>470,874<br>4,256<br>475,130<br>(35,556)<br>87,463<br>51,907|31.3.21<br>Total<br>funds<br>£<br>48<br>483,138<br>-<br>4,799<br>487,985<br>1,696<br>400,132<br>-<br>401,828<br>86,157<br>1,306<br>87,463|
|---|---|---|



The notes form part of these financial statements 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **BALANCE SHEET 31 MARCH 2022** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>6<br>**CURRENT ASSETS**<br>Debtors<br>7<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>8<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>10<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|31.3.22<br>£<br>6,286<br>69,601<br>34,290<br>103,891<br>(58,270)<br>45,621<br>51,907<br>51,907<br>33,029<br>18,878<br>51,907|31.3.21<br>£<br>4,385<br>18,912<br>102,945<br>121,857<br>(38,779)<br>83,078<br>87,463<br>87,463<br>8,854<br>78,609<br>87,463|
|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2022 ............................................. and were signed on its behalf by: 

............................................. B Crookes-Martin - Trustee 

The notes form part of these financial statements 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102 as amended by Update Bulletin 1) 'Accounting and Reporting by Charities: Statement of Recommended Practice' applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Companies Act 2006 and the requirements of the charity's governing documents. The financial statements have been prepared under the historical cost convention. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 

## **Preparation of the financial statements on a going concern basis** 

The financial statements are drawn up on the going concern basis which assumes the charity will continue in operational existence for the foreseeable future. The Board of Trustees have given due consideration to the working capital and cash flow requirements of the charity. The Board of Trustees consider the charity's current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 12 months from the date of signing the financial statements. 

## **Critical accounting judgements and key sources of estimation uncertainty** 

In preparing these financial statements, the Board of Trustees have made judgements, estimates and assumptions that affect the application of the charity's accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key areas that are deemed to be material for these financial statements is as follows: 

## Income recognition 

An appropriate proportion of income, sufficient to cover future costs, is deferred to future periods when the charity has obligations extending to future periods. As a result, judgement is required in assessing the extent and associated costs of fulfilling those future obligations. The charity uses historical experience and forecast activity levels in determining the appropriate amount of income to recognise in the current period and how much to defer to future periods. 

## Allocation of support costs 

Allocation of support costs involves an appropriate proportion of staff time and estimated costs. As a result, judgement is required in assessing the extent of staff time and associated costs. The charity uses historical experience and forecast activity levels in determining the appropriate amounts to be allocated. 

## Volunteers 

The value of the contribution of the hours donated by its unpaid volunteers has not been reflected in these financial statements. The SORP does not permit the accounting for such contributions due to the inherent uncertainty in applying an accurate and reliable financial measurement in accordance with the SORP. 

## **Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income received in advance of a service is deferred until the criteria for income recognition are met. Income arises in the United Kingdom. 

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

Gifts in kind are valued at estimated value to the charity. They are included in the charity's financial statements if the estimated value is in excess of £500. 

Interest receivable on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

Unrestricted charitable donations are recognised in the financial statements when the charitable donation has been received, or if, before receipt, there is sufficient evidence to provide the necessary certainty that the donation will be received and the value of the incoming resources can be measured with sufficient reliability. 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. A further analysis of this expenditure is given in the notes to the financial statements. - Cost of raising funds comprises the costs of commercial trading and their associated support costs. 

- Expenditure on charitable activities includes the costs of the charity's services undertaken to further the purpose of the charity and their associated support costs. 

- Other expenditure represents those items not falling into any other heading. 

Support costs, which include general management, payroll administration, budgeting and accounting, information technology, and human resources, are apportioned based on the estimated amount of time spent by the support area on each activity category. 

## **Tangible fixed assets** 

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The charity only capitalises items costing more than £200. 

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows: Computer equipment  - 3 years Fixtures and fittings    - 3 years 

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Financial Activities. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

Debtors - trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

Cash at bank and in hand - cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

Creditors and provisions - creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Taxation** 

The charity is an institution within the meaning of the Charities Act 2011 and as such is a charity within the meaning of Section 506(1) of the Taxes Act 1988. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains within categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes. The charity receives no similar exemption in respect of Value Added Tax. 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Taxation** 

The charity is an institution which is established for charitable purposes within the meaning of the Charities Act 2011 and as such is a charity within the meaning of Para 1 of Schedule 6 to the Finance Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Sections 478-488 of the Corporation Tax Act 2010 (formerly enacted in Section 505 of the Income and Corporation Taxes Act 1988) or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes. The charity receives no similar exemption in respect of Value Added Tax. For this reason, the charity is generally unable to recover input VAT it suffers on goods and services purchased. The charity is not registered for VAT, as the trustees consider the charity's sources of income are exempt from VAT. VAT is included within the attributable cost under resources expended. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity.  Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Leasing commitments** 

Rentals payable under operating leases are charged to the Statement of Financial Activities evenly over the period of the lease. 

## **Pension costs** 

From 1 April 2015, under the Pensions Act 2008, the charity must put certain staff into a pension scheme and contribute towards it. This is called automatic enrolment. To comply with automatic enrolment laws, the charity signed a participation agreement with a pension provider by which staff become members of an independently administered pension plan. The charity and staff make contributions as specified in the plan. 

In the aforementioned schemes, staff contract directly with the pension company, and assets of those schemes are held separately from those of the charity. The charity acts as agent in collecting and paying over staff pension contributions. Once the contributions have been paid, the charity as employer has no further obligations. 

The charity's contributions are charged to the Statement of Financial Activities in the period to which they relate. At the reporting date, outstanding contributions amounted to £463 (2021: £645). 

## **2. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||31.3.22|31.3.21|
|---|---|---|
||£|£|
|Auditors' remuneration|4,000|3,528|
|Auditors' remuneration for non audit work|1,476|1,968|
|Depreciation - owned assets|3,132|1,199|
|Other operating leases|6,524|-|



## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. 

## **Trustees' expenses** 

|**Trustees' expenses**|||
|---|---|---|
||31.3.22|31.3.21|
||£|£|
|Trustees' expenses|1,218|-|



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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **4. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

## Events 

|31.3.22|31.3.21|
|---|---|
|11|7|



No employees received emoluments in excess of £60,000. 

No employees received emoluments in excess of £60,000 during the current or preceding year. 

Key management personnel included the trustees none of whom received any remuneration during the current or preceding year. 

## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>£<br>£<br>**INCOME FROM**<br>Donations<br>48<br>-<br>**Charitable activities**<br>Grants<br>69,895<br>413,243<br>Other income<br>4,799<br>-<br>**Total**<br>74,742<br>413,243<br>**EXPENDITURE ON**<br>Raising funds<br>1,696<br>-<br>**Charitable activities**<br>Community projects<br>57,133<br>342,999<br>**Total**<br>58,829<br>342,999<br>**NET INCOME**<br>15,913<br>70,244<br>**Transfers between funds**<br>(8,365)<br>8,365<br>**Net movement in funds**<br>7,548<br>78,609<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>1,306<br>-<br>**TOTAL FUNDS CARRIED FORWARD**<br>8,854<br>78,609|Total<br>funds<br>£<br>48<br>483,138<br>4,799<br>487,985<br>1,696<br>400,132<br>401,828<br>86,157<br>-<br>86,157<br>1,306<br>87,463|
|---|---|



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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **6. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 April 2021<br>Additions<br>At 31 March 2022<br>**DEPRECIATION**<br>At 1 April 2021<br>Charge for year<br>At 31 March 2022<br>**NET BOOK VALUE**<br>At 31 March 2022<br>At 31 March 2021<br>**7.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments<br>**8.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|Fixtures<br>and<br>Computer<br>fittings<br>equipment<br>£<br>£<br>104<br>25,631<br>1,929<br>3,104<br>2,033<br>28,735<br>99<br>21,251<br>541<br>2,591<br>640<br>23,842<br>1,393<br>4,893<br>5<br>4,380<br>31.3.22<br>£<br>57,478<br>421<br>11,702<br>69,601<br>31.3.22<br>£<br>8,253<br>2,187<br>462<br>47,368<br>58,270|Totals<br>£<br>25,735<br>5,033<br>30,768<br>21,350<br>3,132<br>24,482<br>6,286<br>4,385<br>31.3.21<br>£<br>11,999<br>421<br>6,492<br>18,912<br>31.3.21<br>£<br>6,364<br>3,256<br>645<br>28,514<br>38,779|
|---|---|---|



Included in accruals and deferred income is deferred income of £46,500 (2021: £21,911). Deferred income comprises of funds which relate to projects and/or programmes to be expended during the 2022/2023 financial year. 

At the reporting date, the relevant funders were SafeLives Limited  £6,500 and Jocket Club £40,000 (2021 - Salford SVS £4,599 and UEFA Foundation £17,312 ). 

## **9. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>£<br>£<br>Fixed assets<br>6,286<br>-<br>Current assets<br>85,013<br>18,878<br>Current liabilities<br>(58,270)<br>-<br>33,029<br>18,878|31.3.22<br>Total<br>funds<br>£<br>6,286<br>103,891<br>(58,270)<br>51,907|31.3.21<br>Total<br>funds<br>£<br>4,385<br>121,857<br>(38,779)<br>87,463|
|---|---|---|



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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

## **RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **10. MOVEMENT IN FUNDS** 

|||Net||
|---|---|---|---|
|||movement||
||At 1.4.21|in funds|At 31.3.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|8,854|24,175|33,029|
|**Restricted funds**||||
|Sport England|-|6,149|6,149|
|Go Girl Project|-|1,607|1,607|
|Worth My Wellbeing|13,385|(13,500)|(115)|
|Oldham Council|-|4,427|4,427|
|Worth My Wellbeing|-|628|628|
|Princes Trust|12,003|(12,003)|-|
|London Community Response|12,760|(12,760)|-|
|Children in Need Northern Ireland|17,711|(16,859)|852|
|Police service of Northern Ireland|22,750|(22,750)|-|
|Youth In Action Programme|-|331|331|
|Guiness Partnership|-|4,092|4,092|
|Manchester VRU|-|907|907|
||78,609|(59,731)|18,878|
|**TOTAL FUNDS**|87,463|(35,556)|51,907|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|225,577|(201,402)|24,175|
|**Restricted funds**||||
|Sport England|6,554|(405)|6,149|
|Go Girl Project|2,343|(736)|1,607|
|Platform 5 Awards for All|9,242|(9,242)|-|
|Worth My Wellbeing|48,864|(62,364)|(13,500)|
|Oldham Council|42,688|(38,261)|4,427|
|Worth My Wellbeing|15,001|(14,373)|628|
|Princes Trust|(9,343)|(2,660)|(12,003)|
|London Community Response|(3,939)|(8,821)|(12,760)|
|Children in Need Machester|10,325|(10,325)|-|
|Children in Need Northern Ireland|15,156|(32,015)|(16,859)|
|Police service of Northern Ireland|(3,848)|(18,902)|(22,750)|
|Youth In Action Programme|49,331|(49,000)|331|
|Access to Work|3,723|(3,723)|-|
|Return to Play|5,499|(5,499)|-|
|Guiness Partnership|4,130|(38)|4,092|
|L&Q Lewisham|6,891|(6,891)|-|
|London Sport|2,252|(2,252)|-|
|Manchester VRU|1,507|(600)|907|
|YIF Children in Need|7,621|(7,621)|-|
||213,997|(273,728)|(59,731)|
|**TOTAL FUNDS**|439,574|(475,130)|(35,556)|



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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **10. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|Net<br>Transfers<br>movement<br>between<br>At 1.4.20<br>in funds<br>funds<br>At<br>£<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>1,306<br>15,913<br>(8,365)<br>**Restricted funds**<br>Sport England<br>-<br>(5,319)<br>5,319<br>Big Lottery<br>-<br>(1,450)<br>1,450<br>Building Stronger Britain Together<br>-<br>(982)<br>982<br>Platform 5 Awards for All<br>-<br>(48)<br>48<br>Pre-Hack Engagement Programme<br>-<br>(456)<br>456<br>Worth My Wellbeing<br>-<br>13,385<br>-<br>Princes Trust<br>-<br>12,003<br>-<br>London Community Response<br>-<br>12,760<br>-<br>Children in Need Machester<br>-<br>17,711<br>-<br>Children in Need Northern Ireland<br>-<br>(110)<br>110<br>Police service of Northern Ireland<br>-<br>22,750<br>-<br>-<br>70,244<br>8,365<br>**TOTAL FUNDS**<br>1,306<br>86,157<br>-|31.3.21<br>£<br>8,854<br>-<br>-<br>-<br>-<br>-<br>13,385<br>12,003<br>12,760<br>17,711<br>-<br>22,750<br>78,609<br>87,463|
|---|---|



Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|74,742|(58,829)|15,913|
|**Restricted funds**||||
|Sport England|-|(5,319)|(5,319)|
|Big Lottery|7,500|(8,950)|(1,450)|
|Children In Need|9,990|(9,990)|-|
|Building Stronger Britain Together|-|(982)|(982)|
|Platform 5 Awards for All|-|(48)|(48)|
|Anti-Knife Crime Community Fund|12,816|(12,816)|-|
|Pre-Hack Engagement Programme|-|(456)|(456)|
|Worth My Wellbeing|104,719|(104,719)|-|
|Oldham Council|45,000|(45,000)|-|
|Worth My Wellbeing|62,400|(49,015)|13,385|
|Hope2020 Programme|60,000|(60,000)|-|
|Princes Trust|21,145|(9,142)|12,003|
|London Community Response|42,693|(29,933)|12,760|
|Children in Need Machester|19,050|(1,339)|17,711|
|Children in Need Northern Ireland|2,930|(3,040)|(110)|
|Police service of Northern Ireland|25,000|(2,250)|22,750|
||413,243|(342,999)|70,244|
|**TOTAL FUNDS**|487,985|(401,828)|86,157|



## **Purpose of unrestricted funds:** 

To ensure our work is protected from the risk of disruption at short notice due to a lack of funds, whilst at the same time ensuring we do not retain income for longer than required. 

## **Purpose of restricted funds:** 

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DocuSign Envelope ID: 5C1DB829-AB7C-467A-82B9-28ED3190F556 

**RIO FERDINAND FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** 

## **10. MOVEMENT IN FUNDS - continued** 

These funds relate to unspent money from donations and other incoming sources where the funder has specified what the money must be spent on and the trustees do not have the power to use the funds for other purposes. 

## **11. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2022. 

## **12. COMPANY LIMITED BY GUARANTEE** 

The charitable company is limited by guarantee and has no share capital. Every member of the charity undertakes to contribute to the assets of the company in the event of its being wound up, for payments of the debts and liabilities of the company, such amount as may be required, not exceeding £1. 

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