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← Rio Ferdinand Foundation

2025-03-31-accounts

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

RIO FERDINAND FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

MCA Audit Limited Chartered Accountants and Statutory Auditors

7 St. Johns Road, Harrow, England, HA1 2EY

RIO FERDINAND FOUNDATION

CONTENTS FOR THE YEAR ENDED 31 MARCH 2025

Page Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Activities 11
Statement of Financial Position 12
Statement of Cash Flows 13
Notes to the Financial Statements 14 to 26

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RIO FERDINAND FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES B Crookes-Martin
R G Ferdinand
J G Townsend
J D Benson
M R Profitt
COMPANY SECRETARY Kerry Secretarial Services Limited
REGISTERED OFFICE C/O Cox Costello & Horne
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ
REGISTERED COMPANY NUMBER 07956602 (England and Wales)
REGISTERED CHARITY NUMBER 1151127 (England and Wales)
AUDITORS MCA Audit Limited
Chartered Accountants and Statutory Auditors
7 St. Johns Road,
Harrow, England,
HA1 2EY
BANKERS Metro Bank PLC
One Southampton Row
London
WC1B 5HA
CHIEF EXECUTIVE OFFICER G Stannett
WEBSITE www.rioferdinandfoundation.com

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees are also directors for the purposes of Company Law, and the Report of the Trustees also represents the charitable company's Directors' Report.

Trustees present their report along with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Charities SORP (FRS 102) '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 31 January 2022)'. The annual report also complies with the provisions of the Charity's Governing Document and the Companies Act 2006.

OBJECTIVES AND ACTIVITIES

Objectives and aims

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

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

The Foundation particularly targets provision with working class communities and those facing additional economic and social disadvantage such as UK minority 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.

Achievement and performance Charitable activities

The financial year 2024-25 the Rio Ferdinand Foundation has built on a platform of growth from the previous two years and invested heavily in enhancing our offer to young people and communities in the UK, Ireland and overseas.

Key developments and achievements of note this year are as follows:

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance- continued Charitable activities

The trustees and management team feel the Foundation has consolidated its financial position and extended the range and quality of its services and opportunities, in an increasingly difficult socio-economic environment which reflects the dedication of our staff team, volunteers, partners and funders in delivering services for young people.

Financial review

Financial position

The fund balance carried forward as at 31 March 2025 was £421,211 (2024 - £299,523) consisting of £374,246 (2024 - £160,301) of unrestricted funds and £46,965 (2024 - £139,222) of restricted funds.

1) Principal funding sources

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

£69,948 (£40,388 in 23-24) from Statutory sector grants including:

West Midlands Police & Crime Commissionner £2100 Workers Educational Association (WEA) Oldham and Salford £65,348 Southwark Council £2500

2) Grant giving Trusts and Foundations:

£326,346 (£319,923 in 23-24) from Grant Giving Trusts and Foundations including:

The National Lottery Community Fund The Blavatnik Foundation's Social Justice Fund The International Fund for Ireland City Bridge Foundation The London Marathon Foundation

3) Corporate grants:

£675,682 (£493,404 in 23-24) from commercial donations and sponsorships including:

Warner Music Group UK Warner Music Ireland Statom Group Findel Education Live Nation & Festival Republic UEFA Children's Foundation The Jockey Club Four Towers Ltd EMS Kent Ltd We Are 8

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Financial review- continue Principal funding sources

4) Housing Associations:

£129,047 (£59,000 in 23-24) from Housing Association partnerships including

Choice Housing The Guinness Social Partnership Great Places Housing

5) Public Donations:

£350 (£5,141 in 23-24) from public donations

6) Earned income:

£16,421 (£88,277 in 23-24) from delivery of programmes, services and training.

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:

Policy and procedures

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

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Financial review- continue

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

For the financial year 2025-26 the Foundation plans to:

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.

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 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.

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.

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT- continue

The CEO's salary is set by the Board based on equivalent sector posts with a review of salary through the annual review process.

The Director position's salary is set by the CEO again based on equivalent sector salaries and reviewed at the point of annual performance review.

The Regional Heads of Programmes salaries are benchmarked again equivalent sector role and banded, each with annual performance based reviews.

Regional team member and sessional worker salaries are based on National Living wage and above, all benchmarked against equivalent sector salaries with annual performance based reviews and set in line with the affordability for the Foundation at the time.

Risk management

The Charity Trustees have considered the major risks to which the charity is exposed and have satisfied themselves that procedures and systems are in place to manage those risks.

Specifically, the Foundation has a strong process for the identification and management of major threats and opportunities to the organisation's ongoing success and financial health, overseen by the Audit committee and the Board. Although on a sound financial footing, the board are aware of the challenging financial climate. The trustees have put in place increased oversight through income generation being rigorously analysed and discussed at every board meeting.

The management of operational delivery risks, around ensuring a safe environment for young people who take part at all Foundation activities, has also been improved through rigorous risk assessment of every event and venue. The Foundation continues to work with professional consultants, venue management and our health and safety support agent Croner as appropriate to make sure that our activities are as safe as possible for the young people taking part.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Rio Ferdinand Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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RIO FERDINAND FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Auditors

The auditors, MCA Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees approved by order of the board of trustees, as the company directors, on 16 December 202 5 and signed on the board's behalf by:

Vee by:

........................................................................ 7AB669628533473... B Crookes-Martin - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RIO FERDINAND FOUNDATION

Opinion

We have audited the financial statements of Rio Ferdinand Foundation London (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RIO FERDINAND FOUNDATION

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We designed procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

We obtained an understanding of the legal and regulatory frameworks that the charity operates in, and identified the key laws and regulations that:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our: general commercial and sector experience; through verbal and written communications with those charged with governance and other management; and via inspection of the company's regulatory and legal correspondence.

We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations to our team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company.

International Auditing Standards (UK) limits the required procedures to identify non-compliance with these laws and regulations, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance with laws and regulations that could have a material impact on the financial statements.

These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RIO FERDINAND FOUNDATION

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with International Auditing Standards (UK). For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Pankaj Rajani (Senior Statutory Auditor) OCC7D9D98DC2425... for and on behalf of MCA Audit Limited Chartered Accountants and Statutory Auditors 7 St. Johns Road, Harrow, England, HA1 2EY

Date:

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RIO FERDINAND FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
fund
Notes
£
INCOME FROM
Donations
2
695,874
Charitable activities
3
Grants
10,987
Community projects
-
Investment income
2,071
Total
708,932
EXPENDITURE ON
Charitable activities
4
Community projects
467,447
NET INCOME/EXPENDITURE
206,485
Transfers between funds
15
7,460
NET INCOME/EXPENDITURE
213,945
RECONCILIATION OF FUNDS
Total funds brought forward
160,301
TOTAL FUNDS CARRIED FORWARD
374,246		 Restricted
funds
£
130,647
469,089
16,421
-
616,157
735,954
(84,797)
(7,460)
(92,257)
139,222
46,965		 31.3.25
Total
funds
£
826,521
480,076
16,421
2,071
1,325,089
1,203,401
121,688
-
121,688
299,523
421,211		 31.3.24
Total
funds
£
535,997
604,411
94,321
162
1,234,891
1,058,706
1,058,706
-
176,185
123,338
299,523

The notes form part of these financial statements

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RIO FERDINAND FOUNDATION

STATEMENT OF FINANCIAL POSITION 31 MARCH 2025

31.3.25 31.3.24
Notes £ £
FIXED ASSETS
Tangible assets 10 10,233 14,472
CURRENT ASSETS
Debtors 11 95,464 165,868
Cash at bank and in hand 353,318 152,689
448,782 318,557
CREDITORS
Amounts falling due within one year 12 (37,804) (33,506)
NET CURRENT ASSETS 410,978 285,051
TOTAL ASSETS LESS CURRENT LIABILITIES 421,211 299,523
NET ASSETS 421,211 299,523
FUNDS 15
Unrestricted funds 374,246 160,301
Restricted funds 46,965 139,222
TOTAL FUNDS 421,211 299,523

The financial statements were approved by the Board of Trustees and authorised for issue on 16-12-2025 and were signed on its behalf by:

............................................. Vee7AB669628533473... by: B Crookes-Martin - Trustee

[Townsend] ............................................. |[NES] Signed1A2F86DC0931407... by: J G Townsend – Trustee

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

The notes form part of these financial statements

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RIO FERDINAND FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
17
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.25
£
200,540
200,540
(1,982)
2,071
89
200,629
152,689
353,318		 31.3.24
£
(5,595)
(5,595)
(16,063)
162
(15,901)
(21,496)
174,185
152,689

The notes form part of these financial statements

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RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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) '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 31 January 2022)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of the financial statements on a going concern basis

The trustees have prepared the financial statements on a going concern basis. The trustees not aware of any materiality uncertainties that the charitable company has adequate resources to continue its activities for the foreseeable future and at least one year from the date of approval of the financial statements, and no material uncertainties exist. Accordingly, the trustees continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees Responsibilities.

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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RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

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.

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.

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 - creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The charity is an institution established for charitable purposes within the meaning of the Charities Act 2011 and is therefore a charity within the meaning of Paragraph 1 of Schedule 6 to the Finance Act 2010. Accordingly, the charity is potentially exempt from taxation on income and capital gains within categories covered by Sections 478–488 of the Corporation Tax Act 2010 (formerly Section 505 of the Income and Corporation Taxes Act 1988) and Section 256 of the Taxation of Chargeable Gains Act 1992, provided such income or gains are applied exclusively to charitable purposes.

The charity does not receive a similar exemption in respect of Value Added Tax (VAT). Consequently, it is generally unable to recover input VAT incurred on goods and services purchased. The charity is not registered for VAT, as the trustees consider its sources of income to be exempt from VAT. VAT is included within the attributable cost under resources expended.

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RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

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 £2,054 (2024: £2,056).

2. DONATIONS

Unrestricted
Funds
£
Berkeley Homes
-
Brixton Ultimate
350
Choice Housing Ireland Limited
-
Crowdfunder
-
EMS Kent Ltd
42,000
Four Towers Ltd
3,000
Great Places Housing Group
-
Jockey Club Racecourses Limited
880
Live Nation (Music) UK Ltd
25,000
Lunar Cloud Software Solutions
548
8 Media Ltd
171
Ralph Lauren
174,820
Statom Group Limited
185,163
The Guinness Partnership
500
Warner Music Ireland
8,120
Warner Music UK Limited
150,000
West Midlands Police and Crime-
-Commissioner
-
Other
-
Donated services
105,322
695,874		 Restricted
Funds
£
-
-
97,720
-
-
-
5,000
-
-
-
-
-
-
25,827
-
-
2,100
-
-
130,647		 31.3.25
Total
Funds
£
-
350
97,720
-
42,000
3,000
5,000
880
25,000
548
171
174,820
185,163
26,327
8,120
150,000
2,100
-
105,322
826,521		 31.3.24
Total
Funds
£
8,000
-
59,000
2,412
-
-
-
40,980
-
-
-
-
170,430
-
16,861
150,000
-
3,499
84,815
535,997

continued...

Page 1�

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
£
Activity
Grants/Contractual income
10,987
Community Projects
-
10,987
4.
CHARITABLE ACTIVITIES COSTS
Community projects
5.
SUPPORT COSTS
Management
Finance
£
£
Community projects
79,504
639
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Hire of plant and machinery
Other operating leases
Auditors’ remuneration
Auditors’ remuneration - non audit
7.
TRUSTEES' REMUNERATION AND BENEFITS		 31.3.25
Restricted
Total
Funds
Funds
£
£
469,089
480,076
16,421
16,421
485,510
496,497
Support
Direct
costs (see
Costs
note 5)
£
£
1,054,293
149,108
Human
Governance
resources
costs
£
£
60,809
8,156
31.3.25
£
6,221
-
-
4,200
1,492		 31.3.24
Total
Funds
£
604,411
94,321
698,732
Totals
£
1,203,401
Totals
£
149,108
31.3.24
£
6,030
-
39,952
4,200
1,492		 31.3.24
Total
Funds
£
604,411
94,321
698,732
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended
31 March 2024.
Trustees' expenses
31.3.25 31.3.24
£ £
Trustees' expenses 2,337 2,713

The nature of expenses were travel, subsistence and accommodation related. The number of trustees reimbursed for expenses was 2.

Page 17

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

8. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management
Charitable activities - salaried
Charitable activities - zero-hours		 31.3.25
£
403,131
33,459
14,418
451,008
31.3.25
1
9
20
30		 31.3.24
£
355,185
27,227
11,220
393,632
31.3.24
1
7
14
22
The number of employees whose employee benefits (excluding employer pension costs) exceeded The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
31.3.25 31.3.24
£70,001 - £80,000 1 1

Total remuneration for key management personnel during the year was £191,101 (2024: £170,015).

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Restricted
fund
funds
£
£
INCOME FROM
Donations
458,166
77,831
Charitable activities
Grants
317,987
286,424
Community projects
11,695
82,626
Investment income
162
-
Total
788,010
446,881
EXPENDITURE ON
Charitable activities
Community projects
683,892
374,814

NET INCOME
104,118
72,067
Transfers between funds
2,656
(2,656)
Net movement in funds
106,774
69,411
RECONCILIATION OF FUNDS
Total funds brought forward
53,527
69,811
TOTAL FUNDS CARRIED FORWARD
160,301
139,222		 Total
funds
£
535,997
604,411
94,321
162
1,234,891
1,058,706
176,185
-
176,185
123,338
299,523

Page 18

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2024
3,466
45,065
Additions
1,982
-
At 31 March 2025
5,448
45,065
DEPRECIATION
At 1 April 2024
2,063
31,996
Charge for year
606
5,615
At 31 March 2025
2,669
37,611
NET BOOK VALUE
At 31 March 2025
2,779
7,454
At 31 March 2024
1,403
13,069
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Trade debtors
59,793
Other debtors
1,114
Prepayments
7,935
Accrued income
26,622
95,464
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Trade creditors
25,456
Social security and other taxes
10,125
Other creditors
2,054
Accruals and deferred income
169
37,804
13.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.25
£
Within one year
�,���		 Totals
£
48,531
1,982
50,513
34,059
6,221
40,280
10,233
14,472
31.3.24
£
35,350
1,114
16,466
112,938
165,868
31.3.24
£
10,536
9,095
2,056
11,819
33,506
31.3.24
£
6,454

continued...

Page ��

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Restricted
fund
funds
£
£
Fixed assets
10,233
-
Current assets
401,817
46,965
Current liabilities
(37,804)
-
374,246
46,965		 31.3.25
Total
funds
£
10,233
448,782
(37,804)
421,211		 31.3.24
Total
funds
£
14,472
318,557
(33,506)
299,523

15.

MOVEMENT IN FUNDS

Net Transfers
movement between
At 1.4.24 in funds funds At 31.3.25
£ £ £ £
Unrestricted funds
General fund 160,301 206,485 7,460 374,246
Restricted funds
A4A WMW 9,100 (9,100) - -
Guiness/ Clean Kicks 1,267 9,189 - 10,456
Manchester VRU GoGirl 21,497 (20,113) - 1,384
YIF Children in Need 331 (331) - -
Catalyst - 3,603 - 3,603
Choice Housing 16,952 (3,171) - 13,781
Choice small grant Dungannon - 6,000 - 6,000
IFI - (2,221) - (2,221)
The National Lottery Community Fund -
The Peckham Settlement Project 29,840 (29,840) - -
Active Spaces 7,169 (7,169) - -
City Bridge Trust 8,578 (16,401) - (7,823)
Hope Collective 30,491 (30,491) - -
Salford CVS Partnership Challenge 7,460 - (7,460) -
Social Justice Fund 6,537 845 - 7,382
Southwark Council - 2,500 - 2,500
Sport England 2024/25 - 280 - 280
WEA Salford - 11,623 - 11,623
139,222 (84,797) (7,460) 46,965
TOTAL FUNDS 299,523 121,688 - 421,211

The restricted fund for IFI reflects a deficit of £2,221, and the City Bride Trust fund shows a deficit of £7,823. These deficits are attributable to timing differences and are expected to be resolved as future income is received.

Page 20

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
A4A WMW
Guiness / Clean Kicks
Guinness Peabody & SNG
Manchester VRU GoGirl
Choice Housing
Choice small grant Derry
Choice small grant Dungannon
IFI
The National Lottery Community Fund -
The Peckham Settlement Project
Active Spaces
Catalyst
City Bridge Trust
Findel
Hope Collective
Social Justice Fund
Southwark Council
Sport England 2024/25
UEFA
WEA Oldham
WEA Salford
YIF Children in Need
TOTAL FUNDS		 Incoming
resources
£
708,932
-
15,373
15,454
-
77,000
10,720
10,000
186,732
32,799
-
8,921
43,068
54,287
9,600
38,708
2,500
14,958
30,689
25,265
40,083
-
616,157
1,325,089		 Resources
expended
£
(502,447)
(9,100)
(6,184)
(15,454)
(20,113)
(80,171)
(10,720)
(4,000)
(188,953)
(62,639)
7,169
(5,318)
(59,469)
(54,287)
(40,091)
(37,863)
-
(14,678)
(30,689)
(25,265)
(28,460)
(331)
(700,954)
(1,203,401)		 Movement
in funds
£
206,485
(9,100)
9,189
-
(20,113)
(3,171)
-
6,000
(2,221)
(29,840)
(7,169)
3,603
(16,401)
-
(30,491)
845
2,500
280
-
-
11,623
(331)
(84,797)
121,688

Page 21

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between
At 1.4.23 in funds funds At 31.3.24
£ £ £ £
Unrestricted funds
General fund 53,527 104,118 2,656 160,301
Restricted funds
Oldham Council 4,427 (4,427) - -
Worth My Wellbeing 14,563 (14,563) - -
Children in Need Northern Ireland 852 - (852) -
Youth In Action Programme 569 - (569) -
Guiness Partnership - 1,267 - 1,267
Manchester VRU 16,735 4,762 - 21,497
YIF Children in Need 331 - - 331
A4A Downham 386 - (386) -
Choice Housing 7,672 9,280 - 16,952
Community Foundation NI 38 (38) - -
Community Links 38 - (38) -
IFI 16,997 (16,997) - -
St. James's Place Charitable Foundation 560 - (560) -
The National Lottery Community Fund -
The Peckham Settlement Project 4,354 25,486 - 29,840
Youth Music Safe & Sound 2,289 (2,210) (79) -
Active Spaces - 7,169 - 7,169
City Bridge Trust - 8,578 - 8,578
Findel - 296 (296) -
Hope Collective - 30,491 - 30,491
Salford CVS Partnership Challenge - 7,460 - 7,460
Social Justice Fund - 6,537 - 6,537
UEFA 3 - (124) 124 -
A4A WMW - 9,100 - 9,100
69,811 72,067 (2,656) 139,222
TOTAL FUNDS 123,338 176,185 - 299,523

Page 22

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
People's Postcode
Oldham Council
Worth My Wellbeing
Children in Need Northern Ireland
Guiness Partnership
Manchester VRU
Choice Housing
Community Foundation NI
Footlocker/Laureus
IFI
Jockey Club
The National Lottery Community Fund -
The Peckham Settlement Project
Youth Music Safe & Sound
Active Spaces
Catalyst
City Bridge Trust
Findel
Hope Collective
IFI GM Trip
Million Hours Fund
Salford CVS Partnership Challenge
SCC - Sports & Wellbeing
Social Justice Fund
UEFA 3
A4A WMW
TOTAL FUNDS		 Incoming
resources
£
788,010
261
-
-
169
1,412
4,867
29,000
510
2,349
175,329
11,781
33,422
5,009
9,980
3,163
22,345
10,364
85,501
18,964
5,048
10,150
570
6,537
-
10,150
446,881
1,234,891		 Resources
Movement
expended
in funds
£
£
(683,892)
104,118
(261)
-
(4,427)
(4,427)
(14,563)
(14,563)
(169)
-
(145)
1,267
(105)
4,762
(19,720)
9,280
(548)
(38)
(2,349)
-
(192,326)
(16,997)
(11,781)
-
(7,936)
25,486
(7,219)
(2,210)
(2,811)
7,169
(3,163)
-
(13,767)
8,578
(10,068)
296
(55,010)
30,491
(18,964)
-
(5,048)
-
(2,690)
7,460
(570)
-
-
6,537
(124)
(124)
(1,050)
9,100
(374,814)
72,067
(1,058,706)
176,185

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. Much of these funds are from donors who support the core ethos of our work and models of youth and community development developed by the Foundation.

Warner Music Group (WMG) – Provide unrestricted funding and in-kind support for our social mobility work across the UK and Ireland. Together we have delivered a range of careers events, training programmes, and progression pathways for under-represented young people.

Ralph Lauren – Provide unrestricted funding for the Foundation’s core work via the sales of their Pin of Solidarity, a cause-related marketing campaign delivered by their employees across stores and online. In addition to this annual donation, we collaborate closely with the Ralph Lauren team on our Early Careers programme providing careers events and internships for our young people.

Live Nation / Festival Republic – provide an annual unrestricted donation towards our core work in addition to collaborating closely with us on our Early Careers programme providing careers events and internships for our young people.

Statom Group – we are the recipient of the proceeds of the annual Statom Charity Ball with funds raised contributing to our core work.

Page 23

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS – continued

Purpose of restricted funds:

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.

Guiness Partnership - Two programmes funded including our ‘Clean Kicks’ environmental sustainability and social mobility programme in Greater Manchester in partnership with Guinness and Great Places Housing. And our Powering Potential social mobility programme working across under-resourced communities in London, in partnership with Peabody Housing and the Guinness Social Partnership.

Manchester VRU - A local partnership alliance providing opportunities for young people in Moss Side, Hulme and Rusholme funded by the Manchester Violence Reduction Unit (VRU).

YIF Children in Need - Capital funding for music-based equipment to enable and develop our creative support services for young people across Greater Manchester.

Choice Housing - Youth and community development initiatives in Northern Ireland, specifically focusing on new-comer communities, community cohesion, and social mobility. A main grant covering various geographies in Northern Ireland and two small grants (Derry and Dungannon.

IFI - A sports-based youth and community development programme called 'Beyond the Ball', funded the International Fund for Ireland (IFI), delivering development pathways for young people across the border counties of Ireland and Northern Ireland, in partnership with the PSNI and Garda as well as a range of local organisations.

TNLCF Peckham - A three-year youth a community development programme, funded by The National Lottery Community Fund (TNLCF) supporting young people and families in Peckham and across the London borough of Southwark.

Active Spaces - A sports-based youth and community development programme, funded by the London Marathon Foundation's Active Spaces fund, supporting young people in South Lewisham.

City Bridge Trust - funding to develop our Youth Advisory Groups across Lambeth, Southwark and Lewisham via training, workshops, and youth social action initiatives.

Findel - Our Findel Communities programme supports the wellbeing and progression of children and young people across Greater Manchester.

Hope Collective - A youth-led, national cross-sector coalition supporting young people to reimagine society via youth social action which sees us acting as secretariat for the Hope Collective CIC.

Salford CVS - A programme designed by children & young people to support their wellbeing during transitional periods, developed utilising our Worth My Wellbeing model.

Social Justice Fund - Funded by the Blavatnik Foundation and WMG, this project delivers youth skills training and projects in under resourced UK communities looking at community policing reform.

UEFA - Funding from UEFA Foundation for Children for our UK and Ireland wide Powering Potential social mobility programme.

A4A WMW - Replicating our Worth My Wellbeing (WMW) model developed over three years working in Salford, this funding from the National Lottery Awards for All enabled us to deliver the programme for young people in Manchester.

Sport England - Sport England gave the Foundation a small grant for sports participation and development programmes.

Jockey Club - Our partnership with the Jockey Club provided a range of personal development opportunities, accredited training and career development pathways for young people from across London and Manchester.

Catalyst - Our partnership with Catalyst in provides training and progression pathways for young people in Northern Ireland.

Page 24

continued...

����������������������������������������������������������

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS – continued

Southwark Council – Our Southwark Sport programme provides open access sports-programmes and personal development pathways for young people across the London borough of Southwark.

WEA Salford & WEA Oldham – Our WEA programmes provide tailored support and progression pathways for young people who are not in education, employment, or training (NEET).

Transfers between funds

During the reporting year, with the funder’s approval, subsidies of £7,460 (2024: £2,656) were transferred from restricted funds to unrestricted funds to correct the fund allocation from the previous year .

16. RELATED PARTY DISCLOSURES

Other than Key Management Compensation disclosed in Note 8, and reimbursements to trustees disclosed in note 7, there were no related party transactions for the year ended 31 March 2025 nor for the year ended 31 March 2024.

17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest received
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 31.3.25
£
121,688
6,221
(2,071)
70,404
4,298
200,540		 31.3.24
£
176,185
6,030
(162)
(137,892)
(49,756)
(5,595)

18. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 152,689 200,629 353,318
152,689 200,629 353,318
Total 152,689 200,629 353,318

19. 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.

continued...

Page 2�

RIO FERDINAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. DEFERRED INCOME

DEFERRED INCOME
31.3.25 31.3.24
£ £
Balance as at 1st April - 55,232
Amount Released to Income during the Year - (55,232)
Amount deferred in the Year - -
- -

Deferred income represents funding received from The National Lottery Community Fund - £nil (2024: £nil) and Findel Education Limited £nil (2024: £nil), towards cost of the projects or programmes to be expended during the 2025/2026 financial year.

Page 2 6