Registered number. 09233473 Charity number.. 1161179 XATLAS THE ATLAS FOUNDATION (A Company Limited by Guarantee) UNAUDITED . TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 111 AC3N860X 1W512023 COMPANIES HOUSE
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THE ATLAS FOUNDAnoN . (A Company Llmlted ty Guarnntee) CoPErS Page R•f•ren¢e and Administrativ• D•taits ofth• Char6ty. its Trustees and Advisers Trust. Report Ind•pendent Examinerf$ Report Statement of Fthanclal Actlvltles Balance Shoot 10-11 Stst•m•nt of Cash Flows 12 Notes to the Financial Stal•m•nls 13-33
THE ATLAS FOUNDAnoN (A Company Limitad by Guarant••) REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2022 Trustees J Leonafd, Chair P A G Rendell (reSrd 2 November 2021) J A Prob I$ne 2 November 20211 Lord Addingkni NLMBlair M WhrtrhJ, Tfeasurer J P Cloughefty F Stockety 8 E Nichol>Jn J A CarOn O Iloie G D Hilton A Paul lappc#nled 2 Novwnber 2021) Company rngistsred number 09233473 Charity fegistered number 1161179 Registsr8d offlcg Chargrove House Shurdington Ri>ad Cheltenham Gloucestershire. GL514GA Prfncipal operating office 16 W*ersKle Ross-on4 Herefordshire HR9 5LN Chairnian J Leonard Independent Examinors Randall & Pae LLP Chargrove House Shurdington Road Chef(8nham Gloucestershire GL514GA Pa9e 1
THE ATLAS FOUNDATION IA Company Llmlted by Guarnntse) TRUSTEES. REPORT FOR THE PERIOD ENDED 31 OECEMBER 2022 The Trustees present their annual report together wth the finanaal statements of the Charity for the period 1 September 2021 to 31 December 2022. The Annual Rewt serves the purposes of both a Trustees, report and directors. report under company law. The Trustees confirm that the Annu Report and financial statements of the charitable company compty wrth the current ststutory requirements, the requirements of the charitable companls governing tjocument and the provi5i¢)ns of the Stalemenl of Recommended Pra¢lice ISORPI applicable lo charrties preparing thr aCCnts in acLordanee with the Financial Reportlng Stsndard apPIable in the UK and Republic of Ilartd IFRS1021 leffecbve 1 January 2019). Since the Charty qualifies as small under section 382 of the Compan$ Acl 2006. the strateg Report required of medium and large companies undw the Crynpani8s Act 2006 (Strategic Report and Directors. Report) R8gulion$ 2013 has been Crtied. During the PWKXI the Charty extended ifs year end lo 31 Oecernber 2022. Objectives and activitles a. Pollcles and obl•ctiv•s The eharivs ctfj'ectNe is lo grant fvnd organisats"on$ throughout the world. wrth a particular focus on those that support childft in vulnerable communits and thal use rugby unton to ¢ary out Iheir charitable purpose,. and to assist such organisations with management and advte lo help them app their resour MO efficiently. b. Acl1vit5 undertak•n to achiev8 obj•ctives Atlas raises money from events. and through donalKMs of money, goods and services from companies, clubs, and indivvjuals to distribute lo chafitable proiecls. Through a global netsvork of Rugby Champions, Atlas then identrfs and assesses potential projects. and once grant funded. monitors, and reports on project perlormance to improve the INes of some of the POCeSt pe(ple on earth. c. Grant4naking policies Our grant making poliw is lo identify grassroots projects that Use wgby to impThie tr* live5 and Pfospects for children and young adults who gfow up in vulnerable and marginalised communrties around the wortd. We favour small scale Ofganisalions wth a positive track record, but are under4esource(l. and offer grants that mak8 a meaningful difference. In April 2022 the board agreed a approach to fvnthng. We wll work with ow partners in threo primary ways.. Long-lemi partnerships- we commrt to funding projects we have W0e with before, who have proven Iheir abilty to deliver taTrgIb change, on a long4erm basis. New partnerships-we invest in a more re$trictr¥e way over a Pre-d8 lime-poriod and against more specffic criteria. Innovation- On1 payments aInst speofK pilot projects. We rarety grant m¢Ne than 25% of an organisatK)n's tumover. rKrt wishing to create dependency. We back up our financial support with donations of managemerrt expertise. marketing and promotion through the Atlas nettvorks and introductions to other syinpathetic supporters. Through our financial support projects can leverage additional matched fvnding. and through our addthonal. $upport. projects bewne better known whh helps bring new donors to them, and some of Auas's existing SUprterS ¢C'ne k) support personaly after Atlas's funding has finished. Page 2
THE ATLAS FOUNDATION (A Company lted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE PERIOO ENDED 31 DECEMBER 2022 Objectives and a¢tiviti•s Icontinu•dl d. hlain actlvltles undertaken to furth•r th• Charity's purposts for th• publi¢ nerrt Atlas provides public benefit by supporting projects that contribute to a reduction in human suffering or an increase in life opportunitS through the values of rugby union. It supports youth arKI adull development through grassroots projects that include coaching, edu&1tn. medical and feeding programmes., and it supports whole comrnunilies by funding the buildir¥J of educatKinal and sports falitIeS. Al the yearond Atlas had confirmed al time funding of £1,154,225 10 43 projects in 17 countries, direLIty supportin9 over 168.000 children. Grants range from a few hundred pounds to £55,000. and a capital proiect of £171,314. Most grants awarded are in the region of £20,000 per year. paid in ¢wartety instaknents. The trustees have had regard lo the CCICCNI'S guHJance on public berfiL Achiovaments and perfornHnce a. Key performarbC• indicatOf5 In this eiyhlh operating year, Atlas's cumulab.ve income reached £4.498,758. Between 1st September 2021 and 31st December 2022, Ihe Atlas FndatI)n rad £928.S27 {2020r21 £745.0821 and donated £445.012 12020121 Q09,839) lo proJe¢l$. Atlas holds restricted fvnds for partnership proieds and Avas regions. at the erKI of the year the amount hekt in restricted funds totalted £890.50312021)r21. £848,293).. The running costs of the chanty were £925.241. Allas ended the year wilh a suWus of £2.070. Page 3
THE ATLAS FOUNDATION (A Company Umited by Guardntse) TRUSTEES. REPORT {CONTINUED) FOR THE PERIOO ENDED 31 DECEMBER 2022 A¢hl¢v¢mnts and rfornIan {¢ontlnued) b. Rgvigw ol activittes Fundraising.. In 2021122 Alla5. in person furKlraising events were rKS longer affected by Covid-19 arKI could resume. The trustees deuded to opt for a lth arKI often approach lo lundratsing. Fundraising summary.. 4 exclusive dinner events at the House of Lords raising £104.253 neL Annual golf day raising £15,210 net. Atlas group of fundraisers al the Tr of Cambridge cyding event raising £11.632 neL The Winchester Christmas Ball. which hoped to be an annual event. raised £20.9C6.14 neL Fidelty ran a Velodrome fundraisin9 event which raised £15.604. Dinner raising fvnds for Israel C4>existence proiecL £26.W was raised for the prciect. In 2020121 we conlinued lo famil$. clubs and groups to raise their ¢)wn funds to support eligible wgby projects. We had 18 of such funds {2020r21201, each working on appropriate rugby programmes and supported by our administratKJn and charitable registiation. As Auas's fvndraisin9 covers our admin costs. 100% of private donations and personal and dub fund$ (less online payThenl fees) a passed slraighl through to projects. Thè continuation of these"fund$ brought in 34% of the income for the year at a total of £312.999. Atlas has established regions in Asia, Ireland, France. South Africa, and the USA. During the year the regions raised £25,552. The fUrS are held in rest[t reserves as the funds 11 be used for charitable project5 decided by the board members of re9ft. Charitable grants." In 2021122 Auas supported 19 projec¢s. totslling £243.563. During Ihis time, Al$.$ projects benefrtted more than 62.000 children - of whom benefitte(I cffi a regular basis li.e. at least once a week during temi timel. 100% of projects worked in partnershp with local schwls. 51% of participants We female. 90Yg of projects $upplEd children ¥th nutntious fwd and clean water to drink. 45Yo of projects supplied female Pa.c1pantS with feminine hygiene pic•Jucts. 36Yo of projects provided children wrth additty)nal mental health support. 27% of projects provided children with regutarrnedi¢al cheCkpS and medicine. 900A of projects educated chiklren on at kast one of the folkM"rKJ inclusmty towcs.. healthy relationships, consent, sellaworth, lemale hygiene. 73tsA of projects educated children on at knt one of the folkm.ng tw"cs'. healthy &iThJ, HIVIAIDSlother diseases, the danger5 of alcohol and drugs. 900A of projects Supply children krt lo wear. The Alla5 CEO visrted proieGts in 3 Countr.. South Africa. Kenya. and Indkni. Atlas trustee Maro Iloie visited projec15 in Kenya. Covid is no longer an issue for the prqects all &tivthes have resumed as normal. Administratffi". In September 2021 Atlas recruited a CEO and tlw in Oclober 2022. The trustees made the deslon to not recrurt a new CEO straight away and are eyplonng optn$. The part-lime Finance OffKer was recrurted as lulklime in July 2022 as Finance and Development Manager. Atlas also recrurted a work plaeemenl student for the first tsme in July 2022 Ipreviousty they have been on SemplOyed contracts}. The Finance Manager, 4 d4y5 a week work placement student and the trustees keep the charty going lo deliver rt5 0*"ectives. Atlas also employs a second placement student to work mainty wilh one of Atlas. partnership funds, the Matt Ratana Rugby Foundation. A contractor works part time in South Afru. Atlas also benefits from voluntary management and administraliori. vdunleer led cydin9 and goff events. its overseas entstv&s. its trustees and The Winchester gioup. P•38 4
THE ATLAS FOUNDATK>N (A Cornpny Limited by Guarnntee) TRUSTEES. REPORT {CONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2022 Achievements and perforniance Icontinued) c. Gifts in kind The trustees are extremety gralefvl to the foll¢)wng d¢)nors and volunteers for thwr generosity in this year which has considerably reduced our running costs and impr¢)ved our Charitable provision to Children around the world. .Neil 8lewrtt. Ben Wattord and the volunteers of The w1heSter group. The charty has received donated goojs that cannot be valued reliabty due to their composrtion. e.g.. Prizes whh contain eT$lOn%$th named guests. Thus. donated goods of this nature have not been re3n1$ed in the SOFA. d. Invèstment policy and perfomiance In 2018 Atlas opened investrnent account with the CCLA before de¢Ing to remove most of its capital and keep it in cash ¢Jue to concerns about a re-balance of the economy. The CCLA was selected for its ethical stance, previous perfomwnce, and abilty lo acce Ihe capital within a week. There remains a small,amounl of £10.918 in thbs a¢count. The bulk of our cash is spread across several bank accounts. the majority of which are savings accounts. No more than £85.000 is invested in exh acUnt and no account is held by the same bank, thus all of Aa$'S funds are protected by the FCA. Atlas 11 keep six months wthing Ca&1 in its reserves. Fin•n¢lal revlew a. Going con¢•rTh After making appropfiale enquiries, the Trustees have a TeasonatAe expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concem basis in pparIng the financial statements. Further dotails regarding the adoptfi of the going icem basis be found in the Acciwnts"ng pol$. b. Roser¥es policy The Atlas Foundathin is a tharity wth no endovKnent. needing to raise new voluntary income from events and donations each yew. During the year. the CEO recommended a funding approach, opting to commit lo funding projects on a long-tem) basis, whh meant grants are committed before funds have been raised. The Iruslees approved the approach at the board meeting in Apiil 2022. We also raise money for specfft projects. 11Th of which is $trthd for that charilable purpose. Thes& are legally restrict and are held in our reserves. Our administrative eosls for Ihe year averaged at £15,450 per month and we aim lo hold £78.000 in our reserves to cover these operatsng costs shoubj our ine¢¥ne substantialty dedine. The remaining unrestricted seNe3 of £87.916 a th*itabte free reserves. Total restitted reseNes". £890.503 Total designated reserves." £Nil. Page 5
THE ATLAS FOUNDATION (A Coryany LImil by Guartntse) TRUSTEES. REPORT {CONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2022 ¢. Principal risks and uTr¢ortain¢i•s To safe9uard Atlas from risk and uncertainty, th8 Charity maintains a risk register which includes mitigation for failure of major events. and failure of banks hc4ding the chanty's cash. By maintaining a risk register, this enables the board lo assess risk exposure and mrtryate through the appT¢¥)riate albcalion of resources. d. Prlnclpal fvnding Each year Atlas runs staple events wthich indude: . Annua Trok wrth hNJh-net-worth donors There was no financial eflect of t"S signrfKanl events during this year as Th)st funds had been raised in prev)us years with the trek having been Canlled on ts¥o oCcasnS due to Covid-19 and partiu"pants fundraising so far bein9.honoured. Funds raised for this event during the year broke even wth eosls. Atlas received £14,842 in relation lo the Jason Leonard Annual Dinner which is no longer an Atlas event. but ' Atlas is the main beneficiary. A donation frcrfn the event is expected in 2023. Through private partnerships. £312.999 was raised. Atlas Regions raised £25.552. Structure. governance and management a. Constltutlon The company is registered as a Charitsb ¢cmpary Iwnited by guarantee and VAS set up by a Memorandum of Association on 16 March 2015 and as a UK registered charty, number 1161179. Ils principd obj.ect is to prowde grant fvn(ry or otherwise assist organL8ations that use rugby union as a focus for carrwng out rts charrtable puryw8. b. Methods of appointment or elKti¢>n of Tntstees The management of the company is Ihe responsikn.lity of the Twstees wh) are elected and c(wtéd under the terms of the Articles of Assrxiation. c. Policies adopted for the induction and training of Trustees Under the tonslitution, the charity shall elect from its membership a Board of Dioclors, known as the Board of Trustee5 of a minimum of 2 directors wth maximum level. New Trustees are provthd with c¢)pies.of the conslilulion, meeting rninules and the chaIrt Commission guarKe on The essential trustee.. vthat you need lo krbow, what you need lo do, upon KKlucb"on. d. Pay policy for key senior staff The management pay is to pay rn0 than the Imng w•ae for senior stsff posts, lo benchmark pay for equivalent posts and n*ionalty arKJ lo Mainta staff wages in line with inflation. Pwje 6
THE ATLAS FOUNDATION {A Company Umittd by Guarnnteel TrUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 310ECEMBER 2022 Structure. governanc• and management Icontlnued) e. Organhatlonal structure and decigion making Operational deeisions wth a finanoal impacl £2.000 are delegated to the CEO by the Board, above this spending must be countersigned by the Chaim)an or Treasurer. The CEO 1$ able to make one-off grants of up40 £2.000. all other grant making decisions must be approved by a majority of the Trustees. where this is an even number the Chairman has the casting vote. Trustees meet quartedy to we•V the poli, strategy and finances of the charity. The CEO and Chaimian meet once a month lo review the oyeration and financial posilfv)n of the ¢ha'.ty. The CEO and Finance maner meet once a monlh to the finan¢ial positi'on of the charity. DecisK)ns regarding the invesknent of fvnds into aUnIS are debegaled by the board lo the Finance Manager. Statement olTry$tws' POnsIbIlit¥. The TNslees Ivtho are also the dYector5 of the Charity for the puseS of coryany lawl are responsible for preparing the Tru5tees' Report and the financk31 statements in accordance wi(h applicab and Unrted Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Praclicel. Company law UireS the Trustees lo prepare financial stalemenls for exh financial perio(J. Under company law, the Trustees must not approve the finanoal statements unless they are sisfied that they give a true and fair view of the state of affairs of the Chanty and of ils incoming resour and application of resources, including its income and expenditure, lor that peri1. In preparing these finanal stalemenls. the Trustees are required lo.. select suitable accounting polKies and then appty them con&stenl. observe the methods and principles of the Chanties SORP IFRS 102).. make jLtdgernents and a¢UntIng estimate5 that are reasonable and pnjdent", slate whèther applicable UK Accounting Standards IFRS 1021 bean fo1h¥8d, subj'ect to any material departures disclosed and explained in the finanoal stements,' ppare the finan81 ststements on the g)ing conrn basis unless rt 15 inapproprtate to presume that the Charty will continue in business. The Trustees are responsible lor keeping adequate accounting cOrdS th are $uffi¢ient to show and explain the Charitys transactions and disclose wtth reasonable accuracy * any time the financial position of the Charty and enable them to ensure that the financial statemenls comply with tho Companies Act 2006. They are also responsible for safeguarding the assets of the Chanty and hw)ce for tsking reasonabk step$ for the prevention and detection of fraud and olhef Irregularities. Approved by order of the members of the board of Trustees and swJned on their behaLf by. Jason Leonard Chaiman Dale". Page 7
THE ATLAS FOUNDATION IA Company Llmll•d ty Guarwt••) INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022 Independent Examinerfs Report to the Trustees of The Atlas Foundation fthe Charity'l I report to the charty Twstees on my exinatIon. of the ac¢Cnts of the Adas Foundalk)n for the pericY ended 310ecember 2022. ResponsibilitiK and BasÈs of Report As the Trustees of the Charty (and rts dyectO for the purposes of company I¥) you are responsible for the preparation of the accounts in aeeordanee wilh the requirements of the Companies Act 2006 {Ihe 20C6 Act.). Hawng sisfied myself that the accounts of the Chanty are not required to be audited under Part 16 of the 2006 Act an¢J are eligible for independent examinth"on. I report in respect of my examination of the Charivs accounts cafrie¢J out under se¢¢ion 14S of the Charrtie5 Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions gNen by the Charty CommissM)n under seclion 145151{bl of the 2011 Act. Indepandent Examin•rfs Stslem¢nt I have completed my eInab"On. I confThi that no matters have Come to my attention in COnnedn with the examination giving'me cause to belYa¥e.' accounting records were not kept in Rspect of the Charty as required by seth.on 386 of the 2006 Aet.. or the accounts do not accord with those record5," or the accounts do not comply with the aUnting requirements of sedion 3 of the 2006 Acl other than any requirement that the accounts gNe a Irue ar laif which is not a matter considered as part of an independent examination.. or the aCcOts have not been prepared in x¢rydan¢e tti the methc¥Js and principbs of the Stal8menl of Recomrnended Practice for accounting and reporting by charrties lapplicable lo charities preparing their accoun15 in accordance wrth the Financial Reporting Standard applicabbe in the UK IFRS 102). I have no concerns and have come &ross no other matters in connecli¢)n with the examination to which attention should be dfawn in this report in order to enable a proper understanding of the accthnts to be reached. This report is made sdgty to the Charitys Trustees. as a body. in acrdan with Part 4 of the Charrties (Aount$ and Reports) Regulalh?n$"2008. My woth has been undertaken so that I mtghl slate lo the Chartws Tru$lees those matters l am required to state to them in an Independenl Examinerfs Report and for no other purpose. To the fullest extent pem)itted by law. I do not accept or assun responsibility to anyone other than the . Charity and the Charity$ Trustees as a tKyJy. for my vrt)rk or for this report. Signed". Dated.. 21 P4>ril 2023 Ryan Moore CA Independent Examiner Randall & Payne LLP Chartered Accountants Chargrove House Shurdin9ton Road Chehenham Gloucestershi GL514GA Page 8
THE ATLAS FOUNDAMON .IA Company Umiled by Guarnntee) STATEMEpif OF FINANCIAL.ACTIVmES (INCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE PERIOD ENOEO 31 DECEPA8ER 2022 Restricted Unrestricted funds funds 2022 2022 Total funds 2022 To181 funds 2021 Note Income from: Donations and legacies Charitsble activrties Investments 508.156 165.879 243.421 11.071 674.035 243,421 11.071 604,027 135,955 5,100 Total in¢¢)me 508.156 420,371 928,S27 745,082 Expenditure on: Charitable actNitses 552.658 373.108 925.766 6T4.613 Total oxpendlturo 552.658 373.108 925.766 674.613 Net {expenditure)fincome beforè net (losse$llgain$ pn investrnents Net (lossesygains on investments 144.S02) 47.263 1691 2.761 {6911 70,469 1.623 Net (expenditureVirKom• Transfers between furKIs 144.$02) 86.712 46.572 186.712) 2.070 72.092 17 N•t movement in funds 42,210 140.140 2.070 72.092 Reconciliation of funds: Total funds brought fopward Nel ffw)vement in funds 848.293 42.210 128,056 (40.140) 976.349 1070 904,257 72.092 Total funds carrfed loa 890.503 87.916 978.419 976,349 The Statemont of Financial ActivitYJ$ indude$ all gains aThJ losses recognise(l in the period. The notes on pages 13 10 33 fomi part of these finwcial slalements. Page 9
THE ATLAS FOUNDATION IA Company Umtted by Guarnntee> REGISTERED NUMBEIi' 09233473 BALANCE SHEET AS AT 31 DECEMBER 2022 31 Dgcember 2022 31 August 2021 Note Flxed assets Tangible assets 11 1.812 1,844 1.812 1.844 Current assets Stocks 12 13 14 793 16.$32 10.918 993,266 793 10.5t2 11.610 970.7t8 Debtors" . Investments Cash al bank and in hand 1.021.509 993.633 Creditors.. amounts falling due within one 15 (44.902 (19. 128) Net current assets 976.607 974,505 Total net assets 978.419 976,349 Charlty funds Restricted funds Unrestricted funds 17 890.503 87,916 848.293 128.056 17 Total funds 978,419 976.349 The Challty was entitled lo exemption frcrfn audit under section 477 ofthe Companie$ Ad 2006. The members have not required the wnpany to obtan an audrt for the Per in quest in accordance with seth'on 476 of Companie$ Act 21x6. The Trustees acknwleilge thwr responsibilities c(rybn9 with th8 requirements of the Act with respect to counting records and preparalton of finanoal ststemgnts. The.finanal slalements have been prepared in accortsnce with thè provisions applKable to enlrties subject to the Small companies wime. The financial stements were approved and aLrttr)rised forissu8 by the TteeS and signed on their behalf by". Page 10
THE ATLAS FOUNDATION (A Company Limited by Guarnntee) REGISTERED NUIABER: 09233473 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2022 J Leonard Chairrnan Treasurer Date.. Zl The notes on pages 13 to 33 fomi part of these financid slalements. Page11
THE ATLAS FOUNDATION (A Compary Umlted by Guarnnlee) STATEMENT OF CASH FLOWS FOR THE PERiOO ENDED 31 DECEMBER 2022 2022 2021 Cash flows fn)m operating activities Net cash used in operating activrt 24.124 85.353 Cash flows from investing activities Losses from the sale of tsngible fixed assets Purchase of tangible fixed assets 722 12,298) {1,623J Net cash used In Investlng acllvltles 11,5761 (1.6231 Cash Ik)ws Irom flnan¢5ng a¢llvl¢les . Net cash provided by financing *ct•¥ities Change in ¢ash and cash equivalents in the period Cash and Cash equivalents * the beginning of the period 83.730 970.718 886.988 •$h and cash oquivalonts at thg end of the perlod 993.266 970.718 The notes on pages 13 to 33 fomi part of Ihese ffinancl statements Page 12
THE ATLAS FOUNDATION {A Cofflpany Limlted by Guarnntse} NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 General infornwlion The Atlas Foundabon 1$ a private company limiled by guarantee incorporated in England & Wales undgr Company number 09233473 and Charity number 1161179. The registered office is Chargrove. House, Shurdington Road. Chehenham. GIouSterShIre. GL514GA. Company slatus The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up. the liabilty in resped of the guarantee is limited 10 £10 Per member of the Chanty. Accounting pollcles 11 Basis of preparation of financial statements The finanual slalernents have been prepaT&J in accordan wth the Charities SORP (FRS 102} - Accounting and Reporting by Charrtie5.' Stalernent of Recommended Practu applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191, the Financial Reporting Starard applicable in the UK and Republ of Iland IFRS 102) and the Companies Aet 20C6. The Adas Foundation meets the definitk)n of a public benefit entsty under FRS 102. Assets and liabilities are inrtially rec()Jnised at historical cosl or tranSactn value unless othenmse st*ed in the relevant accounting policy. 22 Going con¢em The TnJstees consider thg Charity is a goirvj concem and the finan¢Éal statements have been prepared on this basis. At the period end, the Charity has total reserves.of £978,419 and cash al bank of £993,266. The Charty activety works on fvndraising Kleas which is the main basi5 of incom8 and maintains strong support fr¢)m the communty. The Trustees havg prepared forecasts for 2022r23 and have controls in place to monitor the ¢harty$ experKlrture and operating $1$. The Trustees are therefore satisfied thal the financial slatem8nls are prepared on the a$sumptson that the Charty 1$ a going ¢oncgrn. Page13
THE ATLAS FOUNDATION (A Company UM1t ty Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting policies {c(¥ntinued> 13 Incomo l incorning resources are inched in fvu in the Statement of Financial Actwities as soon as the follcvwing three factors can be met.. Entrtkment- arises wh8n a particular resource is rKeNable or the ChS rwhl bgcomes legamy enforceable.. PrOb6- wheft it is mre likety than not that the incoming resources wll bè received. and. Measurwnent- syhen the monetsry value of the incoming resources can be measured wih SLrfficient rdiatslty and the costs iUrred for the IransactN)n can be ffeasured reliabty. Grants are induded in th& Stalw)enl of Financial Activities on a receivable bast$. The balance of income received fof. speCrf purpose$ not expended during the period is shown in the relevant fvnds on the Balance Sheet. Where income is received in advance of enlillemenl of receipt, its rewJnition is deferred and induded in cr8d((ors as deferred income. Where entitlement ¢x¢urs before income is reeeived. the inccffne is acc. Gifts in kind donated for distribution are includ&a at valuation and retognised as income when they are distributed lo the prqects. Gffts donated for resale are irlded as income when they are sold. Donated facilits are included at the vdue to the company where thi5 can be quanlTfied and a third. party is bearing the cost. No anwnts are induded in the financial Statements for seThices donated by vdunteers. Doned services or ts¢rfities a rewgnised the company has control over the item, ary conditions associated wrth the donation item have been met. the feceipt of economi¢ benefit from the use of the company of the rtem is proba$ and that econorric benefft can" be measured reliably. On elp1, donated professional seNces and facilrti8s are rewgnised on the basis of the value of the grft lo the Company which is the amount rt wwkl have been willing to pay to obtain servi$ or facilrties of eqUNsnI economic benefft on the open market.. a cotresponding amount is then recognised in expenditure in the pervjd of receipL Page 14
ThE ATLAS FOUNDATION IA Company Umlted by Guarantsfr) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOO ENDED 31 OECEMBER 2022 A¢¢ounllng pollcles l¢ontlnued) 2.3 Income (continued) Incorne tax reVerable in ratn to d10n$ received urKler Gift AKI or deeds of covenant 15 regnIsed at the time ofthe donation. 2A Expenditure Expenditure is recognised once there is a legal or constructive oblwation to transfer economic benefit lo a third party, it is Probable that a transfer of economic benefits will be required in settlement and the amount of the obligatKJn can be measured reliabty. Expenditure is classrfied by actNily. The costs of each 8etMty are made up of the total of direcl costs and shared costs, Including support costs inVoed in undertaking each ath"wty. Direct costs attributable to a single actwty are allocated directly lo that activty. Shared cosls whKh contribute to more than one activity and support costs which are not attnbutable lo a single activty are appOrtd betsveen those actM"t5 on a basis consistent with the use of $oUrces. Central stsff costs are all¢xated on the basis of lime spent. and depreciation chaffJes alkxated on the of the asset's use. Charrtable ¥tivrts and Go¥eman¢e costs are costs incurred on the companls operats'on$, including support Costs and Cosls lating to the goveman¢e of the ¢panY appointed to charitable activttes. Grants payable a charged in the perioj when the offer is made except in those SeS where the offer is conditional, Such grants b.9 recc¥3nised as expenditure when the condttions attaching are fulfilled. Grants offered subject lo conditnS which have not been mel at the period end are noted as cunmiiment, but not acctued as expendrture. 2.5 Interest recelvable Interest on funds held on deposr¢ is included when receivable and the amount can be measured liabty by the Chartty". this nom)alty upon nolrfKabcm of the Inte$1 paid or payable by the institution with whom tr fvNls are deposited. 2.6 Inv•stmeThts Current asset inveslments are a form of finanoal instrument and ¥e initialty rgcognised at their transaction cost and subsequentty measUd * fair value at the Balance Sheet dale, unless the valu cannot be measUd liablY in which case (( is measured al wst less impairment. Investment gains and losses, whether alised ¢y unrealwd. are ¢ombined and pSented a$ 'GainsllLossesl on investnRnls' in the Ststement of Financial Actie$ incorporating Income and Expenditure xcount. 2.7 Slocks St¢xks are valued at the of cost and net realisable value after making due allowance for ¢)b$te and slow-nvIng slc¢ks. Cost indudes all direcl costs and an apprcpriale proporth)n of fixed and variable overheads. 2.8 Debtors Trade and other debtors a iecognised at the settlement amount after any trade discount offered. Prepayments a valued at the arnunl prepaid net of any trade discounts due. Pag8 15
THE ATLAS FOUNDATION (A Company Umlted by Guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting poli¢i•s (¢on¢inued) 2.9 Cash at bank and in hand Cash at bank in h indudes cash and short4erm hwJhty IKiuid investments with a short rnaturity of three rnthS or less from the date of acquisrtion or opening of the deposrt or similar account. 2.10 Liabilities and PfoY6skns . ablIrt are recognised when there is an obligation at the Balance Shgd date as a resuli of a past event. it is probable that a transfer of econmiic benefft will be required in settkn)ent. and the amount of the settlement can be estimaled reliably. Liabilities are renised at Ihe amount that the Charity antsupales rt win pay to settle the debt or the amount it has weNed as advanced payments fof the goods or serwces it musl provide. Provisws are measured at the best estimate of the amounts wuired to settb the obligion. Where the effect of the time value of money 1$ merial. the provisifM is based on the present value of those amounts, discounted at the prfrtax dis¢ounl rate that reflects the risks specfic to the liabilty. The unwinding of the diseounl 15 reccJnised"in the Statement of Financial ActivitS as a fiTran $t. 2.11 Financial inslrnments The Chartty onty has financial assets and financial liabilrties of a kind that qualTfy as basic financial instruments. Basic financial instruments are inrt1a1 recojnised at transaction value and subsequent measured * their settlement value with exceptson of bank loans which are subsequently measured at amortised cost using the effective interest melhcrfl. 2.12 Pensions The Charty operates a defined ¢ontributiM pensic Scheft and the pension charge represents the amounts payable by the Charty to the fund in respect of the perKXJ. 113 Fund accounting General funds are unre5tricled funds whth are available for use at the discretion of the Trustees in furthefance of the general objectives of the Charty and which have not been deSnated for other purposes. DeSnated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The and use of exh desynated fund is sei out in the notes to thg financial statements. Restricted funds a funds whith a to be used in accordan wilh specffic restrictions imposed by donors or which have been raised by the Charty for particular purposes. The costs of raising and Jministering such fvnds are dwrged against the specrfK fund. The and use of each restrictgd frjnd Is sel rxrt in the notes lo the financial statements. IrNestrnenl income. gains and k)sses are allo¢ed lo the appropri*e fund. Pago 16
ThE ATLAS FOUNDATION (A Company Umlted by Gu•tantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 310ECEM8ER 2022 Income from donatlon$ and legacie5 Total funils 2022 Total funds 2021 funds 2022 funds 2022 Donations 508,156 163,379 671.535 604,027 Grants. 508.156 165,879 674.035 604,02T Total 2021 604,027 604,027 Income from ¢haYitable activities Unrestricted funds 2022 Total fund$ 2022 Total funds 2021 FundraisirvJ events- Other 243,421 243,421 135.955 Total 2021 135,955 135,955 Investrnent incorne Unrestricted funds 2022 Total funds 2022 Total funds 2021 Bank inlerest 11.071 11.071 5.100 Total 2021 5,1 5. 100 Page 17
THE ATLK8 FOUNDATION (A C(KnpaThy Umlted ty Gu•rnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDEO 31 DECEM8ER 2022 Analysls of •xpenditurn on ¢harilabb •thilies Surnmary by fund type funds 2022 funds 2022 Total 2022 Total 2021 Fundraising events Donatn$ 374.421 178.237 301.031 72.077 675.452 250.314 464, 7T4 209.840 552.658 373.108 925.766 674,614 Total 2021 438.291 236,323 674.6141 Anatysis of expenditure by activities Activities undertaken dlrectly 2022 Support ' costs Total funds 2022 Tofal fvnds 2021 2022 Fundraising events t)onalions 481.$58 250.314 193,894 675,452 250.314 464.774 209.839 731,872 193,894 925.766 674.614 Total 2021 569.557 105.056 674.613 Page 18
TrIE ATLAS FOUNDATION IA Company L5mlted by Guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Anatysis of expenditure by acllvl¢i•s (¢¢)ntinuedl Anatysis of direct costs Fundraising Charitabl• events a¢tiville$ 2022 2022 Total funds 2022 Total funds 2021 Events expendrture Bank charges Legal and professional Donations Insurance Proiecl monitoring 438,936 15.587 27.036 438,938 15.587 27.036 238.228 524 11.562 314. 109 T,214 38,395 209,839 238,228 524 11,562 481.559 250,314 731.873 569,557 Total 2021 359.718 209.839 569,557 Page 19
THE ATLAS FOUNDATION (A Cryny Lknlled by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDEO 31 DECEMBER 2022 Analysis of •xp8nditure by activiti•s (continued) Analysis of support costs Fundrnising events Total fvnds 2022 Total funds 2021 2022 Staff costs Oeprecial*)n Postage and stationery Bank charges Advertising Legal and professional Accountancy Travel and subsistence Donations 135.567 1.608 2.542 3.120 1.455 9.937 3.091 14.941 8,525 135,567 1.608 45,528 662 692 3,120 1,455 9,937 3.091 14,941 8,52S 664 202 9.210 722 168 2.142 110 10,582 3,670 76.558 17.179 793 Insurance .Sundry expenses IT & softrNare Loss on the disposal of fixed assets Overseas transfer fee Rent 202 9.210 n2 168 2.142 7,388 230 193,894 193,894 105,056 Total W21 ' 10&056 . 105,056 Independent •xaminerf$ r•mun•ration 2022 2021 Fees payable to the Charws independent examiner for the independent examination of the Chanws annual accounts Fees payable to the Charws independent examiner in respecl ot. Accounts preparatKJn 907 907 1,695 1,695 Page 20
. THE ATLAS FOUNDAnoN (A Company Umlled by Guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OECEMBER 2022 Staff costs Perfod ended 31 Yearended December 31 Augusl 2022 2021 Wages and salaries Socbal secuTty costs .ContributIc lo deffned contribution pension schemes 131.225 2.623 1,719 41,048 3. 750 729 135.567 45,527 The average number of persons employed by the Charity during the perM)d was as follows.. 2022 No. 2021 No. Employees The number of empkjyees whose empw benefts (eXd1Ing empl[ pension costs) exceeded £60,000 was.. 2022 No. No. In the band £100,001- £110.000 The key management personnd of the charity comprise the INslees. the Chief Executive Officer and the ."F.inan¢e Manager. The total remunernkn.on of key rnanagemenl personnel during the year wa5 £118,685 12021. £41,048). During the period the Chf Executive Offter resigned and the Charity donated an asset as a leaving grft that has been appropriatdy disposed of. The carying value of this asset al Ihe date of disposal was £722. 10. Trustees. remuneration and exp•ns During the pericd, no Trustees receNed any remuneratron or ther benefits (2021- £NIU. DuriNJ the period ended 31 December 2022, expenses totalling £4.965 were roimbursed or paid directly 10 1 Trustee (2021- £fth lo l Trttee) for attendarKe at and fundraising fftnts. Page21
THE ATLAS FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 310ECEMBER 2022 11. Tanglble fixed as$ots Computer •quiprnent Cost or valuatlon Al 1 Septgrnber 2021 Additsons 3.609 2.298 11.0831 Di$p¢)sal$ At 31 Oecember 2022 4.824 Depreciation Al 1 September 2021 Chargè for the pemd On disposals 1.76S 1.608 13611 Al 31 December 2022 3,012 Net book value Al 31 December 2022 1.812 At 31 August 2021 1.844 12. Stocks 31 December 2022 31 August 2021 Stock- Trophies 793 793 Page 22
THE ATLAS FOUNDATION {A Company Umfted by Guafanteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOO ENDED 31 DECEMBER 2022 13. Debtors 31 Deetmber 2022 31 August 2021 Oue withln one year Trade debtors other debtors 16.070 462 10,512 16,532 10,512 14. Current asset Investments 31 December 2022 31 August 2021 Listed investments 10.918 17.610 The market value of the listed wivestmenls at 31 Oecember 2022 was £10,918 {2021..£11,610). The value of the investments at c¢)st is £1.CW12021..£1.000). 15. Creditorn: Amounts lalling due within one year 31 December 2022 31 August 2021 Trade creditors Other taxation and s101 security" Accruals and deferred incorr 29,305 1,026 14.571 13,676 2,652 44,902 19, 128 Page 23
THE ATLAS FOUNDATION {A Company Llmit•d by Guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 16. Financial Instruments 31 December 2022 31 Augusl 2021 Financial assets Finanaal assets m&2sured at fair value through In¢w and expdEtre - 1.1)04,184 982.328 Financial a55ets measured at fair vaue th[0h income and expenditure comprise of bank and cash and Current asset investments. Page 24
THE ATLAS FOUNDATION IA Company Limitad by GuaAnt•e) NOTES TO THE FINANCIAL STATEMElnS FOR THE PERIOD ENDED 31 DECEMBER 2022 17. SLitsm•nt of funds Statement of fitnds- current period Balance at 31 Dècember 2022 Balance at I September 2021 Transfer5 inlout Gainsl (Losses Income Exynditure . Unrestrlcted lunds Designat•d funds Designated Funds- all lund$ 16.595 (58.197 11,602 General funds General Funds- all funds Investment fund 86.446 395.251 11.610 1306.386 198.314) 76,997 10,919 1691) 3.251 1306.3861 198.3141 1691) 87,916 Total Unrestrict¢d funds 128.056 411.846 1364.$83 {86.7121 (691)_ 87,916 Restricted funds Ed Cooper Fund lan Williams Foundation Fund Nicholson Memorial Fund Matt Ratsna Foundation- Richmond Heavies Foundalton Fund Silver Hippos Fund 5.238 17.6801 7,24S 34.230 36,172 497.405 15.287 117.9001 494,792 123.287 136.050 172.7411 186,596 49.647 51231 152.3111 49.567 16.623 128.2691 34.147 Schools 2.650 116.000) 12.718 Page 25
THE ATLAS FOUNDATION IA Company Limlted by Guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OECEMBER 2022 17. Statefflent of funds Icontlnued} StatsmeTrt of funds- Current perlod l¢ontInu) Balance at 31 December 2022 Balance at 1 September 2021 Trnnsfern inlout Galnsl {LossesTr Incom• Expendlture. Love of the Game (previously Vascular Repair & Regeneration in Rugby} Township Atlas USA The Winchester Tonga Emergency Appeal Gold for Good Mark Philip Wiliams Project The Philip William Pro¢1 Other restricted funds 10.461 (85.6701 11.595 2,682 1.693 9.976 1.771 (18.6111 18.511 8.1161 (117.8241 127.800 4.260 4.204 1.502 {2.2621 1,701 {6731 1.072 1.743 53.067 20.698 (144.746) 106.780 35.799 848.293 508.156 1552.6S8) 86.712 890.503 Total of funds 976.349 920.1x12 1917.241) 1691) 978.419 Page 26
THE ATLAS FOUNDATION (A Company Limi¢wl by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 17. Ststement of funds Icontinuedl ststement of funds- prlor lIOd Balance af I September 2020 Balan at 31 August Transfers out Gain (Losses) Income Expenthtufe Unre$trict¢d fvnds Designated funds Designated Funds- all funds 107,365 35.719 (70.437) (42.647J 30.000 General funds General Funds- all lunds Investment fvnd 163.488 104,075 . (165,885) (15.232) 86,446 tl.610 173.092 104,075 (165.885) (15,232) 2.006 98,056 T¢)tal Unrestricted funds 2KI.457 139.794 (236.322) (57,879) 2,LK16 128.056 Restiicted. funds Ed Co)per Fund lan Williams Fovndation FurKI Ni¢hol$on Memorial Fund Richmond Heavies Foundation FuThJ (15.6CiIJ 14.409 5.238 33.066 25.946 {606) (24, 176) 34.230 445.C 178.317 (8.270) (117,642) 497.405 40.740 6Q.991 {6&293) 13.209 49.647 Matt Ratana Foundatwjn Silver Hippos Fund Sutton & Epsorn Rugby Club Israel All Schools 14.893 {107.761) 216. 155 123.287 33.156 34.345 (3.316) (19,642) 44.543 17.412 (77,412J 3.59) 26,832 (723) [27,) 2.650 Page 27
THE ATLAS FOUNDATION (A Company Umited ty Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENOEO 31 DECEMBER 2022 17. Ststsment of funds (continued) Statemenl of funds - wior peri¢xl {¢onlinued) Bolance 01 I September 2020 Balance al 31 Augusl 2021 Transfv inlout Gain (Losses) Love of the Game {Pfevx)u5ty Vascular Repair & Regeneration in Rugby) Other restrthd funds 18,088 23.718 (28.3461 (3.042) 10,418 45.680 219.664 (208.376) 23.907 80,875 623,8 .027 {438,291) 58. 757 848,293 Total of funds 904.257 743.821 (674,613) 878 976,349 Page 28
THE ATLAS FOUNDATION IA Company Umlt•d by Guarwt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 17. Statement of fibnds {¢ontinued) Ed Coop•r Fund- Humanrtarian for disadvantaged young ru9by players in area5 of interest to Ed Cooper. primarity bul not exclusNety in Tanzania. lan fvyilliams s lund- Provision to support the visipn of SEE Iscreen. encourage. enabl8) in order lo safeguard the heart of sporL Nicholson MemonalFund- Provision to fiJrtherAllas' obJ'ecti¥e5. set up in bn9 memory ofAnits and her two chikjren. Kolkata Str8•tKids Fund ffonn8rfyPettipher Family Fund). to support Auas program1rS oversea5. RichmondHeavies- Provision lo help protect all at the Rthrnond Rugby Club as well as being able to help those immedialdy impacted by a serious illness or bereavement. Matt Ratana Foundadon- To support the design and delTvery of initiatives that support wmmunty and schoofs rugby both nat)n81ty and inlemalionaly by suppo"ng kcal training, exchange experiencEs and invesl. in improving equipment and f&ilrties accross dubs in the UK. New Zealand and South Africa. SllverHippos Fund. to s)pOrtAtIas progr overseas. Sutton a Epsom Rugby Cle- Genwal chitable purposes ccmsistent with Atlas's objects. All Schoots Funds- ProvisK)ns of coaching. kit equipment and other resources required lo deliver Ih Atlas All Schools programme lo sdwl chiklren. A TLAS USA~ ProvisKsn to suppc¥t Alla$ USA, who exists to alleviate the SLrffering of the poorest and most deprived Children in the US, Soulh America. and the developing wodd through the power of rugby. Love of the Game (PrOUs Vascular Repair and r•g8neration in nwby)- Provigon to Support a study to look for ways lo treat vascular damage. The trVinchest8r- A nerking gro from the Hedge Fund indugty who have come together lo run a fundraising event for chatities. Gold forgood- A charitable foundation lo further Atlas. funded prei&ts as well as new future projeds. Alark Phllllps Memoi?al Fund - A fvnd to support the powt children on earth into edUCan and employment. The Phllllp Wlllams ProJe¢t- Provision to support the work and researth into the effects of swrt on the brain. Townshlp - To supp)rt driven ventures. broaden the honzons of undejprivileged young people and molivale them to engage in Iheir communities and remain in educatwjn. CEO Funding- PrO510n for the CEO posl. Otherr•stiicted funds- wnrnaterial Testricted funds whos8 puryK is to further the objectives of The Atlas Foundation. Page 29
THE ATLAS FOUNDATION {A Company Umited by Gu•rant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOO ENDED'31 DECEMBER 2022 17. Ststernonl of funds (continued) Transfers hwthin Ihe $trIcted funds are in latiOn to addNal bank charges incurred and also additional required incLJne lo support the funds expendrture. Designated funds are unrestitled ieseNes deswJnated ty the Iw5tees for a speufic use. .18. Summary of funds Summary of funds - ¢urr•nl period 8alan¢e at 31 Gain December ILoss•s) 2022 Balan¢9 al 1 S8ptembar 2021 Transfers inlout Incomg Exwndlturn Designated lunds General funds Reslri¢led funds 30.000 98.056 848.293 16.59S 395.251 508.156 (S8.19n 1306,3861 IS52,6581 11.602 {98.3141 86.712 1691 87,916 890,503 976.349 920.002 1917,2411 1691 978.419 Summary of fuftd$ - prior period 8alance at I September 2020 Balance al 31 August 2021 Trdnsfers Gains/ (Losses) Des*3naled funds General funds Restricled funds 107.365 173,092 623.8CX) 34719 104.075 604.027 (70.437) (165.885) (438,291) (42,647) (15,232) 58.757 98,056 848.293 904.257 743,821 (6T4,673) 8T8 976,349 Page 30
THE ATLAS FOUNDATION IA Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 19. . Analysis of net assets bètwoèn fvnd$' Analysis of nel assets bthèen funds - ¢urr•ni p•rlod R•stricted Unrestricted Total funds funds funds 31 31 31 t)ec¢mb•r D•¢ember December 2022 2022 2022 Tangible fixed assets Current 8$sets Creditors due within one year 1,812 131,006 {44,903} 1,812 1,021,509 144.903} 890,503 Total 89).503 87.916 978.419 Anatysls of not assets between funds- prior period Resfncted Unrestricted funds funds 31 August 31 August -2027 Total funds 31 August 2021 Tangible fixa assets Current assets Creditors due within one year 1,844 145,339 (19, 128) 1.844 993.632 {19. 128) 848.293 848,293 128.055 976.348 Page 31
THE ATLAS FOUNDATION (A Company Umited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR ThE PERIOD EMDED 31 DECEMBER 2022 20. Reconclllatlon of net movement in funds to net cash (low fn>m operatlng activities 31 December 2022 31'August 2021 . Net income for the Per las per Statement of Financial Activitssl 2.070 72,092 Adfrustments for: Depreciation charges (Gain05$ on investrnents Decreasellin3se) in debto Increase in ueditors 1.608 691 16,0201 25.775 662 (2,CV6J 4.927 9,6T8 Net cash provided by operating •ctlvl 24.124 85,353 21. Anatysis of ca$h and cash equivalents 31 Dec•mber 2022 31. August 2021 Cash in hand 993.266 970.718 Total ¢a$h and Cash equivalents 993.266 970, 718 22. Anatysls of Changes in net debt Atl September 2021 Cash flows At31 December 2022 Cash at bank and in hand Liquid investments 970.718 11.610 993.266 10,918 16921 982,328 21.856 1.004,184 Page 32
THE ATLAS FOUNDATION IA Company Limit•d by Gu•r4nt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 23. Related rtY transadions Related party Iransacbons during the pwiod were largety dLThts'on$ from ¢)ur Trustee's who we thank for their continued support in their capacity as both dorr5 and Trustees. . Jason Leonard is a Senior AdVr at Bes50 Group Ltd. During the period Besso Grow Ltd purchased 0 4 batl round5 of golf at the Annual Golf Day amounting lo £1.59012021." £7501 Jason Leonard also donated £50 to unreslrided serves. There is a nil balance outstsnding al the peric*J end. Trustee Neil 81aif donated £nil to the DigiBus proiecl in 2022 {2021= £5001 .There is a nil balance outstanding al year end. He also donated £102 to the Tonga Appeal. Neil Blair is a Trustee of The Jigsaw Netsrk CIO. The Jigsaw Netsvort CIO donated £9.Ofy) INards Rugty Israel. Trustee Michael Whitfield donated unrestricted fvnds of £20.350 in 202212021.. £4,698) . He also donated £nil12021'. £7101 to the DwJiBus prqecl and £200 (2021 .' £5101 lo the Nicholson MerrKJrial Fund. He donated £204 to KRDA 12021."£niry and purchased a sponsored 4 ball at the 2022 golf day lotaUing£1,530 and a SpOnse0 a four ball for the 2023 gdf day al a lotal of £2.391. Trustee John Cb)ughety donated unreStrted fvnds of £5.620 12021.. £5001 £nil 12021.. £6CK)I to the. DigiBus Proiecl and £204 to KRDA He purchased a 4 ball * the 2022 gollday tolalling £810. Trustee James car0 donated £3,9"8012021'. £7651 of unrestricted frJnds and £8.029 {2021.. É3.672) to The Love of the Game fund and £nil12021.' £4.000} to the DigiBus Project. He purchased a 4 ball al the 2022 gow day totalling £811 and sponsored the 2023 day toalling £861. Trustee Ben Nicholson donated £3.00012021.. £102 to the Nh01$Oft MerTr)rial Fund. £500 to the Tonga Appeal and £3,520 to unrestncted lurKIs. . Trustee Giles Hitton donated £100 to unrestricted lunds. Trustee Ann Paul dorwled £326 to the Al5 All Schools Fund. £997 to unrtricted fijnds and £102 to the Tonga Appeal The CEO during Ihe perKd, Boris Ptynroy dMated £26 to unrestricted fvnd$. The finance managef sal Hoddel dc¥iated £19 lo unrestrKXed fvnds. Page 33