Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B Charity number: 1155782 SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND {formerly known as Samworth Brothers Sports Opportunity Fund) Unaudited ANNUAL REPORT For the Year Ended 31 March 2024
Docusign Envelope ID= 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Contents Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 9-12
Docusign Envelope ID: 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Reference and Administrative Details of the Charity. its Trustees and Advisers For the Year Ended 31 March 2024 Trustees S Wookey, Trustee (Chairman) T J Barker, Trustee- resigned 13th December 2023 J Milroy, Trustee- resigned 13th December 2023 L J Wainwright, Trustee- resigned 13th December 2023 R A Marris - appointed 13th December 2023 S E Topley- appointed 13th December 2023 J M Nickerson- appointed 13th December 2023 J Dave- appointed 13th December 2023 M A Ball - appointed 13th December 2023 Charity registered number 1155782 Principal office Chetwode House, 1 Samworth Way. Melton Mowbray. LeiStershire, LE13 1GA Independent Examiner Glen Bott FCA. Cooper Parry Group Limited. Skyview. Argosy Road, East Midlands Airport, Castle Donington. DE74 2SA Bankers HSBC plc, PO Box 68, 130 New Street, Birmingham. B2 4JU Solicitors Gateley Legal, Knightsbridge House. Lower Brown Street, Leicester, LE15NL Page 1
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Trustees. Report For the Year Ended 31 March 2024 The Trustees present their Annual Report and the financial statements of Samworth Brothers Community Opportunity Fund (the charity) for the year ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the charity comply with the Charities Act 2011, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities," applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). Structure, governance and management a. Constitution The charity is governed by a Trust Deed dated 12 August 2013, that was amended on 14 November 2023. The principal objects of the charity are= to promote community participation in healthy recreation by providing facilities for playing particular sports- the advancement of the physical education of young people whether or not they are undergoing fomial education,. and to improve the conditions of life of the classes of the person set out below by providing them with opportunities to participate in sporting activities and experiences: people with a mental or physical disability. people with any form of sensory impainnent. and persons in financial need and persons who are otherwise disadvantaged. In addition to the Constitution, the Trustees apply the following criteria to assess any application to the Samworth Brothers Community Opportunity Fund for an award. Are you in the right location? We only support projects where a Samworth Brothers business is an integral part of the local community. Are you about sport? We support clubs and organisations where sport is the starting point and the main focus of activities. We require our award recipients to be a member of their relevant sports governing body or to have Clubmark or equivalent status. Are you about young people? Our main target group is young people aged 12-18 years old. We only provide support to clubs and organisations working with young people in hard to reach and disadvantaged groups for our large grant awards. Are you looking to expand what you do? The main types of awards we make are to extend capacity. Examples of the activities we prefer to fund include projects to get more people qualified and supported with their coaching. The ability lo put on new club evenings or new sessions for different age groupslgenderlethnicity or plans to extend to new locations to reach more young people and other schemes to improve young people's experience of actively participating in sport. Will you be able to sustain this activity once our funding is ove You must have a plan for sustaining the activities we are funding beyond the funding period. We are keen that the projects we support are sustainable for the long term. We are happy to help a project get off the ground, but it then needs to be able to stand on its own iwo feel. Most of our awards are for one year, although we fund some multi-year projects but not usually for more than three years. The charity will support revenue and Capital cost projects. although ourfocus is on smaller scale capital projects that help extend capacity. We welcome proposals where our support can help release other funding, such as Sport England. Page 2
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Trustees. report (continued) For the Year Ended 31 March 2024 The charity will not support general fund-raising appeals. individuals, expeditions or fund-raising challenges, requests for retrospective funding projects that directly replace statutory funding or activities that are primarily the responsibility of the ntral or local govemment or sponsorship and marketing promotions. b. Method of appointment or election of Trustees The charitvs management is the Trustees, responsibility appointed by the Board of Directors of Samworth Brothers Limited. The duration of a Trustee appointment is three years and a retiring Trustee may be reappointed. Objectives a. Policies and objectives In selling aims and objectives in planning future activities and setting the grant-making policy for the year. the Truslees have given due consideration to general guidance published by the Charity Commission relating to public benefit. b. Grant making policies The Trustees consider any applications for grants based on the alignment of the proposed activity with the charity's objectives and the availability of uncommitted funds within the charity. Achievements and perfomiance a. Review of activities During the year, the charity has made grants totalling £112,659 (2023: £63.574) to local sports groups whose activities are aligned with the charitVs objectives. b. Investment policy and perfom)ance In accordance with the Trust Deed, funds that are not required for immediate use (including those which will be required for use at a future date) must be placed on deposit or invested based on the advice of a financial expert. Financial review At 31 March 2024, the charity had total unrestricted funds of £409.603 (2023: £308,838). a. Reserves policy The Trustees aim to maintain reserves at a level sufficient to support the operational expenditure and any commitments of the charity for a period of 12 months. Plans for the future a. Future developments In the coming year, it is intended that additional funds viill be made available to the charity to enable it to make future grants to local organisations. Page 3
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Public benefit The Trustees continue to keep the Charity Commission's guidance on public benefit under review when considering its future activities. This report was approved by the Trustees on24 5eptwnber2lP24 and signed on their behalf by: SvJMd by.. 42C1 SETopey. 1E40 rus Page 4
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND I report to the charity trustees on my examination of the accounts of the charityfor the year ended 31 March 2024 which are set out on pages 6 to 12. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act')- I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements Conrning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Glen Bott FCA Cooper Parry Group Limited Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA Date: 24 September 2024 Page 5
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND ststement of Financial Activities For the Year Ended 31 March 2024 Year ended 31 March 2024 Year ended 31 March 2023 Note INCOME FROM Donations Investment income-bank interest received 207,090 15,956 211,500 4,808 TOTAL INCOME 223,046 216,308 EXPENDITURE ON Grants Other charitable expenditure 112,659 9,622 63,574 5,100 TOTAL EXPENDITURE 122,281 68,674 NET INCOME THE YEAR 100,765 147,634 Total unrestricted funds at 1 April 2023 308,838 161,204 TOTAL UNRESTRICTED FUNDS AT 31 MARCH 2024 409,603 308,838 The notes on pages 9 to 12 fonm part of these financial statements. Page 6
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Balance Sheet As at 31 March 2024 2024 2023 Note CURRENT ASSETS Cash at bank 437,991 372.900 437,991 372,900 CURRENT LIABILITIES Creditors (28.388) (40,804} NET CURRENT ASSETS 409,603 332.096 Creditors due after more than one year (23,258} NET ASSETS 409,603 308,838 CHARITY FUNDS Unrestricted funds 409,603 308.838 TOTAL FUNDS 409,603 308,838 The financial statements were approved by the Trustees on 24 September 18@4 and signed on their behalf by.. SvJTred by.. 06542C122A1E405 S E Topley, Trustee The notes on pages 9 to 12 fom part of these financial statements. Page 7
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND ststement of Cash Flows For the year ended 31 March 2024 2024 2023 Note Cash flows from operating activities: Net cash froml{used inl operating activities 49,135 110,080 Cash flows from investing activities Interest from investments 15,956 4,808 Net cash provided by investing activities 15,956 4,808 Change in cash and cash equivalents in the year 65,091 114.888 Cash and cash equivalents at the beginning of the year 372,900 258,012 Cash and cash equivalents at the end of the year 437,991 372.900 Reconciliation of net income Net incomel(expenditure) for the year 100,765 147,634 Interest (15,956) (4,808) Decrease in creditors (35.674) (32.746) 49,135 110,080 Page 8
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Notes to the Financial Statements For the Year Ended 31 March 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities,. applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and applicable regulations. The accounts have been prepared under the hislorical cost convention with items recognised as cost or transaction value unless otherwise stated in the relevant note(s) to Ihe accounts. 1.2 Fund accounting General funds are unrestricted funds available for use at the discretion of the Trustees in furtherance of the charitys general objectives and which have not been designated for other purposes. 1.3 Incoming resources All incoming resources are included in the Statement of Financial Activities when the charity has an entitlement lo the funds after any perfomance condilions have been met. Therefore, the amount can be measured reliably, and the income will probably be received. 1.4 Resources expended Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered. these are accrued as soon as the recipient is nolified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grant. Where grants are conditional, the grant is only accrued where any unfulfilled conditions are outside the charitls control. 1.5 Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. 1.6 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualrfy as basic financial instruments. Basci financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. DONATIONS The Samworth Brothers Community Opportunity Fund received a donation of £207,090 (2023.. £211,500) from Samworth Brothers Limited. Page 9
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Notes to the Financial Statements For the Year Ended 31 March 2024 Unrestricted funds 2024 Unrestricted funds 2023 GRANTS TO INSTITUTIONS- SPORTS GRANTS Asfordby Amaleurs Ladies & Girls FC Atlas Boxing & Fitness club Barton Athletic Club Belvoir Cricket Club and Countryside Trust CKI School of Marbal Arts Coalville Town Hockey Club Cotehele Quay Gig Club Countesthorpe Cricket Club Devont)ort RSA Gilmorton Cricket Club Ivanhoe Robins Athletic Club Kegworth Bowls Club Leicester Boxing Education Leicester Combat Academy Leicester Hockey Club Leicester Junior Netball Leicester NiNana FC Leicester Outdoor Pursuits Centre Leicester Wheels for All Millbrook Skatepark Project Mounl Group Riding for the Disabled Mowbray Rangers FC Mini Rollers Musketeers Netball Club North Cornwall Dragons Swimming Club Saffron Young People Project Soarvalley Trampoline Club Southgate Colts St Matthews Big Local Uniting Communities for Football Young Heroes Leicestershire Limited Winstanley Wizards Table Tennis Club 2,700 7.100 22,000 1,144 1,500 970 5,000 898 7,115 3.000 1,909 2.890 10,370 2,000 9.190 9,996 15,565) 6,200 20.000 8,000 20.000 2,917 7.500 1,120 1.000 6,744 16,785) 2,000 11.000 1,310 630 6,100 5,680 600 112,659 63,574 Page 10
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Notes to the Financial Statements For the Year Ended 31 March 2024 OTHER CHARITABLE EXPENDITURE Unrestricted funds Unrestricted funds 2024 2023 Independent examination fee Other 4,560 5,062 4,500 600 9,622 5,100 NET INCOMING RESOURCES During the year. 1 Trustee reiVed £4,500 remuneration (2023'.nil). During the year, no Trustees received any benefits in kind (2023.. nil). During the year. 1 Trustee received £322.90 reimbursement of expenses (2023.'nil)- CREDITORS 2024 2023 Accruals less than one year Accruals more than one year 28,388 40,804 23.258 Total accruals 28,388 64.062 Incoming Resources resources Expended Carried Forward Brought Forward STATEMENT OF FUNDS Unrestricted funds General funds 308,838 223,046 (122,281) 409,603 Incoming Resources resources Expended Carried Forward Brought Forward STATEMENT OF FUNDS- PRIOR YEAR Unrestricted funds General funds 161,204 216,308 (68,674) 308.838 Page11
Docusign Envelope ID.. 39C69734-F3F34B91-A4FC-63374912FC2B SAMWORTH BROTHERS COMMUNITY OPPORTUNITY FUND Notes to the Financial Statements For the Year Ended 31 March 2024 RELATED PARTIES The Samworth Brothers Community Opportunity Fund reiVed a donation of £207,090 from Samworth Brothers Limited (2023.. 211.500). During the year. 1 Trustee reiVed £4.500 remuneration (2023'.nil). During the year. no Trustees received any benefrts in kind {2023: nil). During the year. 1 Trustee reiVed £322.90 reimbursement of expenses (2023:nil). Page 12