Gumball 3000 Foundation (A company limited by guarantee) Annual Report and Financial Statements Year Ending 31[ st ] July 2022 Charity number: 0 1158246 Company number: 08863453 ## **Contents** |**Reference and Administrative Details**|**2**| |---|---| |**Trustees’ Report**|**3-10**| |**Independent Examiner’s Report**|**10**| |**Statement of Financial Activities**|**10**| |**Balance Sheet**|**11-12**| |**Notes to the Financial Statement**|**13-14**| 1 ## **Reference and Administrative Details** **Charity Name:** Gumball 3000 Foundation **Charity Number:** 01158246 **Company Number:** 08863453 **Principal and Registered Office:** Gumball Headquarters 303-315 Latimer Road London W10 6RA Tel: +44 (0) 208 964 7878 Website: www.gumball3000foundation.org Email: foundation@gumball3000.com Instagram: @gumball3000foundation **Trustees:** Cynthia Irene Cooper Johnnie Stanley Cooper **CEO:** Maximillion Fife Alexander Cooper **Bankers:** Barclays Bank Plc Leicestershire LE87 2BB **Solicitors:** Fladgate LLP 16 Great Queen St Holdborn, London WC2B 5DG 2 ## **Trustee’s Report** The trustees are pleased to present their annual directors’ report together with the consolidated financial statements of the charity and its subsidiary for the year ending 31st July 2022, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in January 2016. **Chair’s report** The Gumball 3000 Foundation was established Since being established in 2013 to benefit underprivileged youth through educational and recreational infrastructure focused projects around the world. The mission is to give underprivileged youth greater opportunities in life, ensuring that the legacy of Gumball is both positive and lasting. Further to capitalizing on a powerful Alumni of individuals, the Foundation works alongside established charities and global commercial partners to assist in their charitable efforts and to guide their respective and considerable philanthropic attentions to causes which Gumball can identify from as its unique position as a successful youth culture brand. The Gumball 3000 Foundation selects partners who share the same values and meet the criteria for responsible governance, giving underprivileged youths across the world the opportunities they deserve. Over the past four years the Foundation has worked closely with several charitable partners including When You Wish Upon A Star, The Laureus Sport For Good Foundation, The Tony Hawk Foundation, The Sir Simon Milton Foundation, The Nelson Mandela Children’s Fund UK, Football Beyond Borders, Fair Shot Cafe, Latimer Community Art Therapy Centre, and The Westway Trust. Maximillion Cooper 3 ## **Governance and Objectives** The key objectives of the charity are: - To advance in life and help young people through: - The provision of recreational and leisure time activities provided in the - interest of social welfare, designed to improve their conditions of life; - o Providing support and activities that develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. - To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities so that they may grow to full maturity as individuals and members of society. - To act as a resource for young people up to the age of 30 living across the world by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: - Advancing in life and helping young people by developing their skills, - capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; - Advancing education - Relieving Unemployment - Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. 4 ## **The Gumball 3000 Rally and Alumni** The Gumball 3000 Foundation was established in 2013 to benefit underprivileged youth through education and recreational infrastructure based projects around the world. The mission is to give underprivileged youth greater opportunities in life, ensuring that the legacy of Gumball is both positive and lasting. Further to capitalizing on a powerful Alumni of individuals, the Foundation works alongside established charities and global commercial partners to assist in their charitable efforts and to guide their respective and considerable philanthropic attentions to causes which Gumball can identify from as its unique position as a successful youth brand. The Gumball 3000 Foundation selects partners who share the same values and meet the criteria for responsible governance, giving underprivileged youths across the world the opportunities they deserve. Over the past seven years the Foundation has worked closely with several charitable partners including When You Wish Upon A Star, The Laureus Sport For Good Foundation, The Tony Hawk Foundation, The Sir Simon Milton Foundation, The Nelson Mandela Children’s Fund UK, Football Beyond Borders, Fair Shot Cafe, Latimer Community Art Therapy Centre, and The Westway Trust. ## **Our Partners** ## WHEN YOU WISH UPON A STAR When You Wish Upon A Star has a simple mission, to grant the wishes of children living with a life threatening illness aged 2-16 years. Since their inception in 1990 they have proudly granted over 16,000 wishes across the UK. In 2014 the Gumball 3000 Foundation pledged £100,000 to When You Wish Upon A Star which enabled 100 children to swap their hospital beds for sleigh rides as they flew on a specially chartered aircraft to Lapland where they spent the weekend visiting Father Christmas. Accompanied by Maximillion Cooper and his wife Eve, the children and their families spent their time enjoying the snow, telling Father Christmas their wishes for the festive season and spending time away from the confines of the hospital. Upon meeting Father Christmas they were photographed and at the end of the trip given a DVD documenting the trip as a reminder of their magical day. The Gumball 3000 Foundation is proud to work with When You Wish Upon A Star and to be able to make this trip possible for so many people. ## THE WESTWAY TRUST Gumball 3000 Headquarters has always been based in West London and when the Foundation was formed in 2013 it was a key aim of the Foundation that it looked towards supporting the surrounding area and reach out to the local community to engage with teenagers growing up in the borough. The Foundation works closely with the Westway Trust supporting their Creative Employment Programme (CEP) to provide employment opportunities for young people to learn valuable skills, to gain recognized qualifications and benefit from invaluable experience in the workplace. 5 ## LAUREUS SPORT FOR GOOD FOUNDATION The Gumball 3000 Foundation has been a long-term supporter and partner of Laureus and have consistently been amongst their biggest donors, working closely with them on an array of incredible sports programmes both domestically and worldwide. Laureus is a global organisation that celebrates sporting excellence and uses the power of sport to transform the lives of children and young people. There are three distinct elements to the Laureus family and all three work together to help Laureus Sport for Good achieve its charitable aims. (1) Laureus Sport for Good is the separate charitable arm of the Laureus family. Over the last 20 years, Laureus Sport for Good has raised more than $150m for the Sport for Development sector and, together with its partners, has reached and helped change the lives of almost 6m children and young people. Laureus currently supports more than 275 programmes in over 50 countries. (2) The Laureus World Sports Awards is an annual award ceremony honouring individuals and teams from the world of sports along with sporting achievements throughout the year. (3) The Laureus World Sports Academy is a unique association of more than 60 of the greatest living sporting legends from sports as diverse as football, tennis, athletics, skateboarding and motor racing. All members of the Academy share a belief in the power of sport to break down barriers, bring people together and improve the lives of young people around the world. The Academy is also the ultimate sports jury, voting each year to decide the winners of the Laureus World Sports Awards. This year, the Gumball 3000 Foundation donated £100,000 to fund and support some fantastic youth-centred sports initiatives, with a particular focus on London-based football programmes that use football as a tool to engage underprivileged youth in fun, recreational activities whilst also providing essential educational infrastructure to enable a successful transition into adulthood. Furthermore, through the 2022 Charity Grid the Gumball 3000 Foundation facilitated Jordan Melville’s (Gumball Alumni) astonishing £160,000 donation to the Maple Leafs Sports & Entertainment Foundation, a Laureus Sport for Good partner based in Canada. All parties are working together to identify worthy sports initiatives within the North America region to assign these funds to. ## THE SKATEPARK PROJECT (formerly Tony Hawk Foundation) The Gumball 3000 Foundation has proudly supported The Skatepark Project (TSP) in recent years, donating as much as $100,000 from previous rallies and this year the Gumball 3000 Foundation donated a further $50,000 to TSP to support a selection of their current projects outlined below. TSP is partnering with the Blue Lab Preservation Society’s ReefLine initiative and Es Devlin to design and create a “skateable” artificial reef and public skatepark. The reef’s design will inspire and complement the design of the eco-friendly public skatepark in Miami Beach. Founder and Artistic Director of the ReefLine Ximena Caminos sums up the goals and inevitable outcomes of the initiative best - “The ReefLine is a singular investment in civic infrastructure, public art and environmental protection that will pay dividends over the coming decades and attract ecologically-minded tourists and art lovers.” TSP is also working with The Underline to transform the land below Miami’s Metrorail into a 10 mile linear park, urban trail, and public art destination. As part of the project, TSP is collaborating with The Underline to develop plans for an integrated skatepark. TSP will be providing critical guidance surrounding community 6 engagement and skatepark design and construction. This skatepark would serve Miami residents and would be accessible to the greater Miami metro area by way of the Metrorail. The Skatepark Project was set up to create high quality, public skateparks in low-income communities around the world. Skateparks not only encourage youths to be active and healthy but are spaces where they meet other creative, like-minded individuals, from communities and together build self-confidence and awareness of the sometimes misunderstood sport. ## THE NELSON MANDELA CHILDREN’S FUND UK Nelson Mandela established the Nelson Mandela Children’s Fund (NMCF) when he became President in 1994 as a personal commitment to improve the treatment and future prospects of children in South Africa. He was so determined to see the charity succeed, that he donated a third of his Presidential salary for the five years he was in office to the organization. NMCF has evolved into an internationally recognized charity with the welfare of children at its core. Each year it helps up to 100,000 vulnerable children and young people through various programs of work. The Gumball 3000 Foundation has supported the charity’s latest initiative, The Nelson Mandela Children’s hospital located in Johannesburg, helping to contribute towards the project, of which £39 million has been raised. The building was completed at the end of 2015, with its first patients being admitted in early 2016. The Nelson Mandela Children’s Hospital represents the ultimate project to carry on Nelson Mandela’s name as a living legacy and final tribute to his unbound love of children. ## SIR SIMON MILTON FOUNDATION Sir Simon Milton was for ten years one of London’s most successful politicians, who believed passionately that it was the responsibility of every individual to extend opportunity for all, whether young or old. The Sir Simon Milton Foundation was created following his premature death in 2011, with the aim to continue his vision of a city in which the young can aspire and the older thrive. The flagship project of the Sir Simon Milton Foundation is a new college for 14-18 year olds, which will educate and train young Londoners from all backgrounds for careers in engineering and construction industries. Based in central London and opening in September 2017, it will be the only educational facility of its kind in the city. Their aim is to inspire and develop a new generation of engineers, technicians and business leaders with the skills, confidence and knowledge they need to be a success in life. The college will offer a unique opportunity to develop key skills with the latest technology and engineering equipment. Leading employers supporting the college such as Network Rail, Land Securities, Crossrail, Sir Robert McAlpine, Transport for London and BT Fleet will present the students with business challenges. The University of Westminster is involved in the curriculum development, will run summer schools for new students and provide mentors to learners. The Gumball 3000 Foundation and its supporters are uniquely placed to help this school establish itself and support students who wish to pursue a career in the automotive industry. ## PROJECT WRECKLESS 7 Project Wreckless is a capacity development programme targeting youth in its community who are more likely to drop out of school, abuse substances and or engage in criminal activity. Project Wreckless provides tools for life through an immersive curriculum all centred on the restoration of cars. From the practical skills of rebuilding a car to the fiscal responsibility of keeping the projects on budget and on time, Project Wreckless challenges each participant to expand their own capacities. The programme instills self-confidence through meaningful guidance and support from instructors and mentors. The Gumball 3000 Foundation began supporting Project Wreckless in the build up to the 2019 rally Mykonos to Ibiza, which saw the restoration of a scrapped 1968 Shelby Mustang GT500 KR by the Project Wreckless team, which then went on to participate in the rally. The Foundation’s contribution included a car build, sponsorship of one youth and the purchase of necessary tools for the Project Wreckless workshop. One of the Foundation's most successful auction lots at the Live 2022 Auction in Nashville was the Project Wreckless 1966 Mustang Fastback car build project. The two winning bidders are now coordinating with the Project Wreckless garage to manage their respective car builds. This amazing project has given the Project Wreckless youth the opportunity to utilise and develop their mechanical skills on a fun, challenging project which will ultimately enhance their skill set for future employment opportunities. ## FOOTBALL BEYOND BORDERS Football Beyond Borders (FBB) was founded in 2013 and exists to change the lives of young people. FBB recognises that there are thousands of young people who are not fulfilling their potential at school. Working in partnership with schools, FBB works with young people from disadvantaged backgrounds who are disengaged at school, helping them to finish school with the skills and grades required to make a successful transition into adulthood. FBB achieves this by providing long-term, intensive support, built around relationships and young people’s passions in the classroom and beyond and have since onboarded over 2,000 students across numerous UK schools. Having already made an initial donation of £20,000 to FBB, the Gumball 3000 Foundation is working with FBB to integrate Gumball work experience and internships into their student programme. Furthermore, the Foundation wishes to offer performance-based incentives for FBB students, including the opportunity to play for the Gumball All-Stars in its annual charity football matches involving a number of celebrities and ex-professional football players. ## FAIR SHOT CAFE Fair Shot Cafe is a charity addressing the UK’s current 95% unemployment levels for young people with learning disabilities. Fair Shot Cafe is providing year-long training programmes to grow the next generation of skilled baristas and expert cafe assistants. After the programme, they find their graduates paid employment with forward-thinking employers and keep supporting all parties involved for the following 6 months. In 2022, the Gumball 3000 Foundation provided £20,000 in funding to help secure Fair Shot’s new cafe premises in Covent Garden and has committed to extending this partnership by providing additional funding in 2023. ## LATIMER COMMUNITY ART THERAPY Latimer Community Art Therapy (LCAT) is a local organisation that provides Art Psychotherapy for the local 8 youth and all those affected by the tragic Grenfell fire in 2017. In September 2022, the Gumball 3000 Foundation joined forces with a number of emerging local artists and creative minds to launch the inaugural Create Community campaign, with the aim of leveraging the power of the arts to raise all important awareness of the Grenfell story, in recognition of its 5th anniversary. The Gumball 3000 Foundation identified Latimer Community Art Therapy (LCAT) as the worthy beneficiary of the funds donated to this project. The project involved working closely with the artists and the young children at LCAT to produce artwork that was later displayed at a public exhibition in Soho, before being auctioned off at the Foundation’s wonderful celebratory night at The Broadcaster in West London. In addition to the funds raised throughout the project, the Gumball 3000 Foundation donated £15,000 to LCAT in 2022 and has pledged a further £15,000 in 2023. Each of these donations is able to pay for half a year of Art Therapy across all of LCAT’s Community Centres. ## CUBA SKATE Cuba Skate’s focus is on the evolution of skateboarding in Cuba, building local communities and international connections, and cultivating youth through sport. Skateboarding brings together communities and develops individuals and it is a unique way to engage youth and bring people together at the intersection of sport, culture, and transportation. Through their programs, Cuba Skate develops a new generation of leaders that are better equipped to tackle challenges in their own lives and connect their local and global communities. Cuba Skate have collaborated with universities, artists, and brands to help support Cuba Skate clinics, exhibits and other programs around the world and have previously released a limited edition sneaker with renowned skate brand DC Shoes. In 2022 The Gumball 3000 Foundation donated $15,000 to see the renovation of an existing Cuba Skate park in Cuba. ## **Our Activities** ## CHARITY GRID Ahead of Flag Drop, all rally entrants are given the opportunity to claim pole position on the grid by donating to the Foundation. Competing for this coveted pole position creates a great sense of competition amongst the teams, who whilst competing are also raising funds for the Gumball 3000 Foundations charitable partners. With a shared mission to benefit disadvantaged youth through educational and recreational infrastructure based projects, the Gumball 3000 Foundation, with your invaluable help, is working toward creating a better world for the youth of today. The top ten teams that have raised the most money for charity will line up at the front of the start grid with the team raising the highest amount taking the pole position. Collectively 2022’s online grid raised a total of £752,282, with Team 42 & Team 108 taking pole position after raising an incredible £125,000 for their teams. 9 ## **CHARITY AUCTION** The Gumball 3000 Foundation has hosted its annual charity auction in a number of cities worldwide. In partnership with Christie’s, the auction features a range of sporting, celebrity and automotive memorabilia, as well as money can’t buy experiences. The annual auction is an important fundraising campaign for the Gumball 3000 Foundation and has helped raise funds for many worthy initiatives. The auction consists of both live and silent auction lots kindly donated by a variety of partners, celebrities, athletes and Gumball 3000 alumni. ## **Independent Examiner’s Report** The accounts were not subject to Independent Examination ## **Small Company Provision** This report has been prepared in accordance with the small companies regime under the Companies Act 2006 Approved by the board 30[ th ] April 2023 Maximillion Cooper CEO 10 ## **Gumball 3000 Foundation** **Statement of Financial Activities (including income and expenditure account) for year ending 31[ st ] July 2022** All of the Charity’s activities derive from the continuing operations during the above two periods. 11 ## **Gumball 3000 Foundation Balance Sheet as at 31[ st ] July 2022** For the financial year ending 31[ st ] July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charity to obtain an Audit of its accounts for the year in question in accordance with section 476. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to the accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees and authorised for issue on 30[ th ] April 2023 and signed on their behalf by: Maximillion Cooper, CEO 12 ## **Notes to the Financial Statements for the Year Ended 31[ st ] July 2022** ## **1. Accounting Policies** ## **a) Basis of Preparation** The financial statements have been prepared in accordance with 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[ st ] January 2015) and the Companies Act 2006 In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. On review, there were no transition adjustments required. ## **b) Company Status** The charity is a company limited by guarantee. The members of the company are the trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10.00 per member of the charity ## **c) Going Concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate recourses to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements ## **d) Incoming Resources** Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **e) Tangible Fixed Assets** Individual fixed assets are capitalised at cost Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as follows: Fixtures and Fittings: 20% straight-line basis ## **f) 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 ## **g) Cash at bank and in hand** Cash at bank and 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. ## **h) Creditors** Creditors are recognised when 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 13 obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discount. ## **i) Fund Accounting** The charity has a number of restricted income funds to account for situations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. Further explanations of the nature and purpose of each fund is included in the notes to the financial statements. All other funds are unrestricted income funds, which can be used in accordance with the charity’s objectives. ## **j) Finance and Operating Leases** Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred. The charity currently has no assets under finance leases. ## **k) Irrecoverable VAT** All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against a category of resources expended for which it was incurred. - **l) Operating Leases** - Rentals payable under operating leases are charged in the statement of financial activities on a straight-line basis over the lease term. ## **m) Pensions** The Charity currently has no pension scheme in place. End of Report 14