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2025-12-31-accounts

Registered number: 09233473 Charity number: 1161179

THE ATLAS FOUNDATION

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 - 10
Statement of Cash Flows 11
Notes to the Financial Statements 12 - 31

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees J Leonard, Chair
Lord Addington
N L M Blair
F Stockley (resigned 16 September 2025)
B E Nicholson
D J Bradbury
N P Bracken
Company registered
number
09233473
Charity registered
number
1161179
Registered office
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA
Principal operating
office
16 Waterside
Ross-on-wye
Herefordshire
HR9 5LN
Chairman
J Leonard
Accountants
Randall & Payne LLP
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

Page 1

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Objectives and Activities

Our mission

The Atlas Foundation uses the sport of rugby to engage, inspire and support children and young people living in extreme poverty or marginalised communities. Working with local partners, the charity delivers programmes across three core areas — education, health, and inclusion — to create long-term improvements in young people’s lives.

Through rugby’s values of teamwork, integrity, commitment and enjoyment, Atlas aims to help children thrive socially, physically and academically across diverse global contexts.

Activities and Programmes

The Atlas Foundation operates by forming partnerships with local organisations, schools, sports clubs and community groups that understand on-the-ground needs. Together they design and implement initiatives that address barriers to children’s education, health, nutrition and inclusion.

Atlas supports grassroots projects including:

As a registered charity, Atlas works to ensure all our activities align with the Charity Commission’s guidance by:

The trustees regularly review and ensure projects are targeted to those in need and have measurable outcomes that contribute to improved wellbeing.

Atlas raises money from a variety of events, and through donations of money, goods and services from companies, clubs and individuals to distribute to our partner projects. Through its global network Atlas identifies and assesses potential projects, and once grant funded, monitors, and reports on project performance to improve the lives of some of the poorest people on earth.

At the year-end Atlas had confirmed all-time funding of £2,157,445 to 52 projects in 21 countries, directly supporting over 278,000 children. Grants range from a few hundred pounds to £55,000, and a capital project of £171,314. Most grants awarded are in the region of £20,000 per year, paid in quarterly instalments.

The trustees have had regard to the CC/CCNI's guidance on public benefit.

Page 2

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Grant making policies

Our grant making policy is to identify grassroots projects that use rugby to improve the lives and prospects for children and young adults who grow up in vulnerable and marginalised communities around the world. We favour small scale organisations with a positive track record. They are often under-resourced and a grant from Atlas would make a meaningful difference.

We work with our partners in three primary ways:

We back up our financial support with donations of management expertise, marketing and promotion through the Atlas networks, introductions to other sympathetic supporters and networking. Through our financial support projects can leverage additional matched funding, and through our additional support, projects become better known which helps bring new donors to them.

Achievements and performance

Key financial performance indicators

In this tenth operating year, Atlas’ cumulative income reached £6,927,605. During 2025, the Atlas Foundation raised £872,078 (2024 £966,622), made grants of £260,465 (2024 £211,605) to projects and spent £177,251 (2024 £122,079) on direct costs for project delivery.

Atlas holds restricted funds for projects, private funds and Atlas regions, at the end of the year the amount held in restricted funds totalled £1,066,987 (2024 £1,025,845).

Atlas has designated funds of £111,583 to projects for 2026+ (2024 £94,923). The support costs of the charity were £174,466 (2024: £182,809).

Atlas ended the year with a surplus of £92,603 (2024 £157,214).

Page 3

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Review of activities

Fundraising summary for 2025:

In 2025 we continued to work with families, clubs and groups to raise their own funds to support eligible rugby projects. We had 11 of such funds which were active during the period (2024 13), each working on appropriate rugby programmes and supported by our administration and charitable registration. As Atlas’s fundraising covers our admin costs, 100% of private donations and personal and club funds (less online payment fees) are passed straight through to projects. The continuation of these funds brought in 23% (2024 38%) of the income for the year at a total of £190,085 (2024 £355,509).

Atlas has established regions in Asia, Ireland, France, South Africa, and the USA. During the year the regions raised £5,941 (2024 £16,809). The funds are held in restricted reserves as the funds will be used for charitable projects decided by the board members of each region.

In 2025 Atlas supported 13 projects, totalling £336,791. During this time, Atlas’s projects benefitted more than 102,000 children – 92% of whom benefitted on a regular basis (i.e. at least once a week during term time).

Administration: For the year Atlas had a Head of Fundraising, working 1 day a week, on a self-employed basis. Chairman, Jason Leonard, took a lot of the responsibilities such as donor engagement. The General Manager, Finance Manager, 4 days a week work placement student and the trustees keep the charity going to deliver its objectives. Atlas also employed a summer intern student to work on a marketing project and from September, a 1 day a week marketing lead for the TackleLondon project. A contractor works part time in South Africa. Atlas also benefits from voluntary management and administration, its overseas entities and its trustees.

Page 4

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Gifts in kind

The trustees are extremely grateful to the following volunteers for their generosity in this year which has reduced our running costs and improved our charitable provision to children around the world: Gideon Bard, Yana Rachkova. The charity has received donated goods that cannot be valued reliably due to their composition, e.g., prizes which contain excursions with named guests and second-hand rugby kit. Thus, donated goods of this nature have not been recognised in the SOFA.

Investment policy and performance

In 2018 Atlas opened an investment account with the CCLA before deciding to remove most of its capital and keep it in cash due to concerns about a re-balance of the economy. The CCLA was selected for its ethical stance, previous performance, and ability to access the capital within a week. There remains a small amount of £12,659 (2024 £12,911) in this account. The bulk of our cash is spread across several bank accounts, the majority of which are savings accounts. No more than £120,000 is invested in each account and no account is held by the same bank, thus all of Atlas’s funds are protected by the FCA. Atlas aims to keep six months working capital in its reserves, currently valued at £80,000.

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources 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. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Principal funding

Each year Atlas runs staple events which include: an Annual Trek with high-net-worth donors raising £113,883 net. Atlas received £66,467 in relation to the Jason Leonard Annual Dinners in 2023 & 2024 for which Atlas was the main beneficiary. A donation from the 2025 event is expected in 2026. Through private partnerships, £190,084 was raised. Atlas Regions raised £5,941.

Principal risks and uncertainties

To safeguard Atlas from risk and uncertainty, the charity maintains a risk register which includes mitigation for failure of major events, and failure of banks holding the charity’s cash. By maintaining a risk register, this enables the board to assess risk exposure and mitigate through the appropriate allocation of resources.

Reserves policy

The Atlas Foundation is a charity with no endowment, needing to raise new voluntary income from events and donations each year. Atlas commits to raising funds before designating them to projects.

We also raise money for specific projects, 100% of which is restricted for that charitable purpose. These funds are legally restricted and are held in our reserves.

Our administrative costs for the year averaged at £13,171 per month, we aim to hold £80,000 in our reserves to cover these operating costs should our income substantially decline. The remaining unrestricted reserves are charitable free reserves.

Total restricted reserves: £1,066,987 Total designated reserves: £111,583

Page 5

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Structure, governance, and management

Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 16 March 2015 and as a UK registered charity, number 1161179. Its principal object is to provide grant funding or otherwise assist organisations that use rugby union as a focus for carrying out its charitable purpose.

Method of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

Policies adopted for the induction and training of Trustees

Under the constitution, the charity shall elect from its membership a Board of Directors, known as the Board of Trustees of a minimum of 2 directors with no maximum level. New Trustees are provided with copies of the constitution, meeting minutes and the Charities Commission guidance on 'The essential trustee: what you need to know, what you need to do' upon induction.

Pay policy for senior staff

The management pay policy is to pay more than the living wage for senior staff posts, to benchmark pay for equivalent posts locally and nationally and to maintain staff wages in line with inflation.

Organisational structure and decision making

Operational decisions with a financial impact below £2,000 are delegated to the General Manager by the Board, above this spending must be countersigned by the Chairman or Treasurer. The General Manager can make one-off grants of up-to £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 quarterly to review the polices, strategy and finances of the charity. The General Manager and Chairman meet once every 2 months to review the operation and financial position of the charity. Decisions regarding the investment of funds into accounts are delegated by the board to the Finance Manager.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Jason Leonard (Apr 28, 2026 11:00:27 GMT+1)

J Leonard Chairman

Date: 28/04/2026

Page 6

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Independent Examiner's Report to the Trustees of The Atlas Foundation ('the Charity')

I report to the charity Trustees on my examination of the accounts of The Atlas Foundation for the year ended 31 December 2025.

Responsibilities and Basis of Report

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

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

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

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 28/04/2026 Ryan Moore Ryan Moore (Apr 28, 2026 11:09:11 GMT+1) Ryan Moore CA Independent Examiner

Randall & Payne LLP Chargrove House Shurdington Road Cheltenham Gloucestershire GL51 4GA

Page 7

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income before net
(losses)/gains on investments
Net (losses)/gains on investments
Net income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
288,291
480
56,672
345,443
335,432
335,432
10,011
(252)
9,759
41,702
51,461
142,129
51,461
193,590		 Restricted
funds
2025
£
525,770
865
-
526,635
443,791
443,791
82,844
-
82,844
(41,702)
41,142
1,025,845
41,142
1,066,987		 Total
funds
2025
£
814,061
1,345
56,672
872,078
779,223
779,223
92,855
(252)
92,603
-
92,603
1,167,974
92,603
1,260,577		 Total
funds
2024
£
798,055
124,175
44,392
966,622
810,031
810,031
156,591
623
157,214
-
157,214
1,010,760
157,214
1,167,974

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 31 form part of these financial statements.

Page 8

THE ATLAS FOUNDATION

(A Company Limited by Guarantee) REGISTERED NUMBER: 09233473

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
Fixed assets
Current assets
Debtors
11
Investments
12
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 13,667
12,659
1,238,188
1,264,514
(3,937)		 2025
£
-
1,260,577
1,260,577
1,260,577
1,066,987
193,590
1,260,577		 22,352
12,911
1,144,681
1,179,944
(11,970)		 2024
£
-
1,167,974
1,167,974
1,167,974
1,025,845
142,129
1,167,974

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Jason Leonard (Apr 28, 2026 11:00:27 GMT+1) J Leonard Chairman Date: 28/04/2026

Page 9

THE ATLAS FOUNDATION

(A Company Limited by Guarantee) REGISTERED NUMBER: 09233473

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025

The notes on pages 12 to 31 form part of these financial statements.

Page 10

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 12 to 31 form part of these financial statements		 2025
£
93,507
-
-
93,507
1,144,681
1,238,188		 2024
£
189,205
-
-
189,205
955,476
1,144,681

Page 11

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

1. General information

The Atlas Foundation is a private company limited by guarantee incorporated in England & Wales under Company number 09233473 and Charity number 1161179. The registered office is Chargrove House, Shurdington Road, Cheltenham, Gloucestershire, GL51 4GA.

Company status

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 liability in respect of the guarantee is limited to £10 per member of the Charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006.

The Atlas Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees consider the Charity is a going concern and the financial statements have been prepared on this basis.

At the period end, the Charity has total reserves of £1,167,974 and cash at bank of £1,144,681. The Charity actively works on fundraising ideas which is the main basis of income and maintains strong support from the community.

Page 12

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

2. Accounting policies (continued)

2.3 Income

All incoming resources are included in full in the Statement of Financial Activities as soon as the following three factors can be met:

  1. Entitlement - arises when a particular resource is receivable or the Charity's right becomes legally enforceable;

  2. Probable - when it is more likely than not that the incoming resources will be received, and;

  3. Measurement - when the monetary value of the incoming resources can be measured with sufficient reliability and the costs incurred for the transaction can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donation item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the company appointed to charitable activites.

Page 13

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

2. Accounting policies (continued)

2.4 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

2.7 Investments

Current asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities incorporating Income and Expenditure account.

2.8 Debtors

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

2.9 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.

Page 14

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 15

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

3. Income from donations and legacies

Donations
Grants
Total 2024		 Unrestricted
funds
2025
£
288,291
-
288,291
160,847		 Restricted
funds
2025
£
380,189
145,581
525,770
637,208		 Total
funds
2025
£
668,480
145,581
814,061
798,055		 Total
funds
2024
£
662,104
135,951
798,055

4. Income from charitable activities

Fundraising events
Total 2024
Investment income
Bank interest
Total 2024		 Unrestricted
funds
2025
£
480
124,173
 Restricted
funds
2025
£
865
2
Unrestricted
funds
2025
£
56,672
44,392		 Total
funds
2025
£
1,345
124,175
Total
funds
2025
£
56,672
44,392		 Total
funds
2024
£
124,175
Total
funds
2024
£
44,392

5. Investment income

Page 16

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

6. Analysis of expenditure on charitable activities

Summary by fund type

Fundraising
Charitable activities
Governance
Total 2024		 Unrestricted
funds
2025
£
138,115
194,317
3,000
335,432
150,752		 Restricted
funds
2025
£
110,986
332,805
-
443,791
659,280		 Total
2025
£
249,101
527,122
3,000
779,223
810,032		 Total
2024
£
400,988
406,719
2,325
810,032

7. Analysis of expenditure by activities

Fundraising
Charitable activities
Governance
Total 2024		 Activities
undertaken
directly
2025
£
153,375
451,383
-
604,758
627,222		 Support
costs
2025
£
95,726
75,740
3,000
174,466
182,809		 Total
funds
2025
£
249,101
527,123
3,000
779,223
810,031		 Total
funds
2024
£
400,987
406,719
2,325
810,031

Page 17

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Fundraising
2025
£
Events expenditure
147,373
Bank charges
5,065
Legal and professional
937
Donations
-
Governance costs
-
Project monitoring
-
Project costs
-
153,375
Total 2024
174,647		 Charitable
activities
2025
£
13,959
-
12,048
291,812
313
841
132,410
451,383
452,575		 Total
funds
2025
£
161,332
5,065
12,985
291,812
313
841
132,410
604,758
627,222		 Total
funds
2024
£
301,765
3,086
12,055
205,535
223
5,847
98,711
627,222

Page 18

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Fundraising
2025
£
Staff costs
20,011
Depreciation
-
Insurance
-
Postage and stationery
9
Bank charges
-
Advertising
121
Legal and professional
33,125
Accountancy
-
Travel and subsistence
-
Donated good and services
35,942
Sundry expenses
3,600
IT & software
2,918
Overseas transfer fee
-
Rent
-
95,726
Total 2024
78,917		 Charitable
activities
2025
£
29,244
-
495
69
180
-
36,225
3,558
2,953
-
51
450
136
2,379
75,740
101,567		 Governance
2025
£
-
-
-
-
-
-
-
-
-
3,000
-
-
-
-
3,000
2,325		 Total
funds
2025
£
49,255
-
495
78
180
121
69,350
3,558
2,953
38,942
3,651
3,368
136
2,379
174,466
182,809		 Total
funds
2024
£
53,313
204
495
1,117
1,750
2,341
47,400
4,044
20,200
37,158
4,206
7,330
145
3,106
182,809

8. Independent examiner's remuneration

2025 2024
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 1,075 1,000
Fees payable to the Charity's independent examiner in respect of:
Accounts preparation 1,750 1,700

Page 19

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

9. Staff costs

Wages and salaries
Contribution to defined contribution pension schemes		 2025
£
48,585
670
49,255		 2024
£
52,688
625
53,313

The average number of persons employed by the Charity during the year was as follows:

2025 2024
No. No.
Employees 3 3

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the trustees, the General Manager and the Finance Manager. The total remuneration of key management personnel during the year was £28,574 (2024: £27,060).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 December 2025, expenses totalling £10,364 were reimbursed or paid directly to 1 Trustee (2024 - £13,411 to 1 Trustee) for attendance at meetings and fundraising events.

11. Debtors

Due within one year
Trade debtors
Other debtors		 2025
£
6,674
6,993
13,667		 2024
£
13,061
9,291
22,352

Page 20

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

12. Current asset investments

2025 2024
£ £
Listed investments 12,659 12,911

The market value of the listed investments at 31 December 2025 was £12,659 (2024:£12,911).

The value of the investments at cost is £1,000 (2024:£1,000).

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income		 2025
£
687
472
2,778
3,937		 2024
£
715
423
10,832
11,970

14. Financial instruments

2025 2024
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 1,250,847 1,157,592

Financial assets measured at fair value through income and expenditure comprise of bank and cash and current asset investments.

Page 21

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Designated
Funds - all
funds
General funds
General Funds
- all funds
Investment fund
Total
Unrestricted
funds
Restricted
funds
Ed Cooper
Fund
Ian Williams
Foundation
Fund
Nicholson
Memorial Fund
Matt Ratana
Foundation
Richmond
Heavies
Foundation
Fund		 Balance at 1
January
2025
£
94,923
34,296
12,910
47,206
142,129
587
34,592
477,314
169,053
89,505		 Income
£
-
345,443
-
345,443
345,443
5,667
1,116
5,356
39,630
1,315		 Expenditure
£
(104,466)
(230,966)
-
(230,966)
(335,432)
(5,963)
(120)
(46,898)
(40,650)
(11,875)		 Transfers
in/out
£
121,126
(79,424)
-
(79,424)
41,702
-
-
-
14,345
-		 Gains/
(Losses)
£
-
-
(252)
(252)
(252)
-
-
-
-
-		 Balance at
31
December
2025
£
111,583
69,349
12,658
82,007
193,590
291
35,588
435,772
182,378
78,945

Page 22

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

Statement of funds - current year (continued)

Israel co-
existence
programme
Love of the
Game
Township
Atlas USA
The Winchester
Ocean View
and
Masiphumelele
High Schools
Bhubesi Pride
Foundation
KRDA
DigiBus
SKRUM
Silver Hippos
Fund
DigiBus South
Africa
Maintenance
Fund
Little Sports org
TackleLondon
Other restricted
funds
Total of funds		 Balance at 1
January
2025
£
8,764
-
9,031
2,578
63,950
-
-
-
-
-
47,858
35,251
25,937
52,681
8,744
1,025,845
1,167,974		 Income
£
28,569
313
28,169
348
85,450
10,211
23,865
52,220
75,000
11,634
24,596
-
5,832
110,211
17,133
526,635
872,078		 Expenditure
£
(26,808)
(17)
(36,020)
-
(108,402)
(8)
-
(2,996)
-
(1,634)
(7,207)
(1,356)
(12,894)
(132,425)
(8,518)
(443,791)
(779,223)		 Transfers
in/out
£
-
-
-
-
(28,690)
-
-
-
-
-
(9,859)
-
-
(13,398)
(4,100)
(41,702)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(252)		 Balance at
31
December
2025
£
10,525
296
1,180
2,926
12,308
10,203
23,865
49,224
75,000
10,000
55,388
33,895
18,875
17,069
13,259
1,066,987
1,260,577

Page 23

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Designated
Funds - all
funds
General funds
General Funds
- all funds
Investment fund
Total
Unrestricted
funds
Restricted
funds
Restricted
Funds - all
funds
Ed Cooper
Fund
Ian Williams
Foundation
Fund
Nicholson
Memorial Fund
Matt Ratana
Foundation		 Balance at
1 January
2024
£
107,592
(6,207)
12,287
6,080
113,672
10,000
4,702
35,172
476,689
122,695		 Income
£
-
329,720
-
329,720
329,720
-
3,293
50
16,105
83,151		 Expenditure
£
(111,717)
(212,400)
-
(212,400)
(324,117)
(10,000)
(7,408)
(630)
(15,480)
(36,793)		 Transfers
in/out
£
99,048
(76,817)
-
(76,817)
22,231
-
-
-
-
-		 Gains/
(Losses)
£
-
-
623
623
623
-
-
-
-
-		 Balance at
31
December
2024
£
94,923
34,296
12,910
47,206
142,129
-
587
34,592
477,314
169,053

Page 24

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

Statement of funds - prior year (continued)

Richmond
Heavies
Foundation
Fund
Israel co-
existence
programme
Love of the
Game
Township
Atlas USA
The Winchester
Ocean View
and
Masiphumelele
High Schools
Bhubesi Pride
Foundation
KRDA
DigiBus
SKRUM
Silver Hippos
Fund
DigiBus South
Africa
Maintenance
Fund
Little Sports org
TackleLondon
Other restricted
funds
Total of funds		 Balance at
1 January
2024
£
79,242
8,408
616
11,319
2,096
64,058
4,204
1,502
1,072
1,743
15,000
34,147
-
-
-
24,423
897,088
1,010,760		 Income
£
19,416
31,407
2,331
17,683
482
209,841
-
-
-
-
-
16,635
35,258
26,518
167,637
7,095
636,902
966,622		 Expenditure
£
(9,153)
(31,051)
(2,947)
(19,971)
-
(209,949)
(4,204)
-
-
-
(15,000)
(2,924)
(7)
(581)
(114,700)
(5,116)
(485,914)
(810,031)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(256)
(21,975)
(22,231)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
623		 Balance at
31
December
2024
£
89,505
8,764
-
9,031
2,578
63,950
-
1,502
1,072
1,743
-
47,858
35,251
25,937
52,681
4,427
1,025,845
1,167,974

Page 25

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

Page 26

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

Ed Cooper Fund - Humanitarian support for disadvantaged young rugby players in Tanzania.

Ian Williams’s fund – Provision to support the vision of SEE (screen, encourage, enable) in order to safeguard the heart of sport.

Nicholson Memorial Fund – Provision to further Atlas’ objectives, specifically in the continent of Asia, set up in loving memory of Anita and her two children.

Richmond Heavies – Provision to help protect all at the Richmond Rugby Club as well as being able to help those immediately impacted by a serious illness or bereavement. Provision is also to supply defibrillators to rugby clubs across the UK.

Matt Ratana Foundation - To support the design and delivery of initiatives that support community and school's rugby both nationally and internationally supporting local training, exchange experiences and invest in improving equipment and facilities accross clubs in the UK, New Zealand and South Africa.

Silver Hippos Fund - To support Atlas programmes overseas.

ATLAS USA – Provision to support Atlas USA, who exists to alleviate the suffering of the poorest and most deprived children in the US, South America, and the developing world through the power of rugby.

Love of the Game – Provision to support a study to look for ways to treat vascular damage.

DigiBus South Africa Maintenance fund - Support fund for ongoing maintenance costs of the Atlas DigiBus currently in operation in Cape Town so it can continue to serve communities weekly.

Little Sports org - A project in Kenya that is transforming disadvantaged young Kenyan's lives through rugby and education with a particular focus on female empowerment.

TackleLondon - A partnership project with star* Scheme and Matt Ratana Rugby Foundation which uses sports mentoring through rugby programmes in schools and community clubs to uplift young Londoners who have been affected by Adverse Childhood/Community Experiences.

Israel co-existence programme - A project that uses Tag Rugby to bring together Jewish and Arab children, fostering friendships, teamwork, and mutual respect through the game.

Township - Based in the Eastern Cape Province of South Africa, this project uses rugby to broaden the horizons of underprivileged young people and motivate them to engage in their communities, to remain in education, to participate in sport and to improve their situation.

The Winchester - An investment management networking group of like-minded volunteers who run fundraising events with a mission to support a variety of UK based charities with a rugby focus.

Ocean View and Masiphumelele High Schools - Based in Cape Town, South Africa this project uses rugby to tackle local community issues. The young people at these schools receive mentoring through rugby and digital literacy classes through our purpose built media centres.

Bhubesi Pride Foundation - This project works with disadvantaged children in rural Lilongwe, Malawi to give children a chance to overcome the severe challenges they face and uplift themselves through development programmes run at their sports and community centre.

Page 27

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

15. Statement of funds (continued)

KRDA - This project gives children from the Kibera slums in Nairobi, Kenya, access to a better education, nutritious food, clean water, medical support and rugby to develop them and give them a chance to escape poverty.

DigiBus - A fund to support either existing or new Atlas DigiBuses – digital classrooms on wheels that can bring digital literacy, coding, AI and robotics lessons to schools where children have no access to computers.

SKRUM - Using rugby as a vehicle for engagement, this project creates safe and fun environments to educate young people on HIV/AIDS and its cultural causes in Eswatini. It tackles gender and healthcare inequalities and taboos to empower the young people and create a healthier future.

Other restricted funds - immaterial restricted funds whose purpose is to further the objectives of The Atlas Foundation.

Transfers within the restricted funds are in relation to additional bank charges incurred and also additional required income to support the funds expenditure.

Designated funds are unrestricted reserves designated by the trustees for a specific use.

16. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Restricted
funds		 Balance at 1
January
2025
£
94,923
47,206
1,025,845
1,167,974		 Income
£
-
345,443
526,635
872,078		 Expenditure
£
(104,466)
(230,966)
(443,791)
(779,223)		 Transfers
in/out
£
121,126
(79,424)
(41,702)
-		 Gains/
(Losses)
£
-
(252)
-
(252)		 Balance at
31
December
2025
£
111,583
82,007
1,066,987
1,260,577

Page 28

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

16. Summary of funds (continued)

Summary of funds - prior year

Designated
funds
General funds
Restricted
funds		 Balance at
1 January
2024
£
107,592
6,080
897,088
1,010,760		 Income
£
-
329,720
636,902
966,622		 Expenditure
£
(111,717)
(212,400)
(485,914)
(810,031)		 Transfers
in/out
£
99,048
(76,817)
(22,231)
-		 Gains/
(Losses)
£
-
623
-
623		 Balance at
31
December
2024
£
94,923
47,206
1,025,845
1,167,974

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Current assets
197,527
Creditors due within one year
(3,937)
Total
193,590		 Restricted
funds
2025
£
1,066,987
-
1,066,987		 Total
funds
2025
£
1,264,514
(3,937)
1,260,577

Analysis of net assets between funds - prior year

Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
-
-
-		 Restricted
funds
2024
£
1,025,845
-
1,025,845		 Endowment
funds
2024
£
154,099
(11,970)
142,129		 Total
funds
2024
£
1,179,944
(11,970)
1,167,974

Page 29

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

18.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net income for the year (as per Statement of Financial Activities)
92,603
Adjustments for:
Depreciation charges
-
(Gain)/Loss on investments
252
(Increase)/decrease in debtors
8,685
Increase/(decrease) in creditors
(8,033)
Net cash provided by operating activities
93,507
19.
Analysis of cash and cash equivalents
2025
£
Cash at bank and in hand
1,238,188
Total cash and cash equivalents
1,238,188
20.
Analysis of changes in net debt
At 1
January
2025
Cash flows
£
£
Cash at bank and in hand
1,144,681
93,507
Liquid investments
12,911
(252)
1,157,592
93,255		 2024
£
157,214
204
(625)
46,906
(26,119)
177,580
2024
£
1,144,681
1,144,681
At 31
December
2025
£
1,238,188
12,659
1,250,847

Page 30

THE ATLAS FOUNDATION (A Company Limited by Guarantee)

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

21. Related party transactions

The Atlas Foundation Trustee Jason Leonard, and his wife Amanda Leonard are directors of FunBus Entertainment Limited. During the period FunBus Entertainment Ltd donated £20,833.33 (2024: £29,229.34) as a result of The Atlas Foundation being the charity beneficiary of Jason Leonard’s annual charity dinner in 2023. FunBus Entertainment Ltd donated £45,634.39 (2024: nil) as a result of The Atlas Foundation being the charity beneficiary of Jason Leonard’s annual charity dinner in 2024. FunBus Entertainment Ltd transferred £12,346 in pledge funds that were raised for a specific charitable project at Jason Leonard’s annual charity dinner in 2025 (2024: £18,415). There is a nil balance outstanding at the period end.

The charity paid £696.98 for return flights to Morocco for Jason Leonard to be in attendance at our Atlas Mountains Trek fundraising challenge event and £24.75 for branded Atlas clothing for him for the same event.

Trustee Neil Blair is also a Trustee of The Jigsaw Network CIO. The Jigsaw Network CIO donated £9,000 (2024: £10,000) towards the Rugby Israel coexistence programme.

Trustee Ben Nicholson donated £nil (2024: £116.30) to the Nicholson Memorial Fund, and £nil (2024: £25) to unrestricted funds.

Trustee Lord Addington donated £100 to the Big Give Christmas Campaign. Thanks to Lord Addington The Atlas Foundation was also able to use the office space in Millbank House on the parliamentary estate to hold 7 staff meetings and the interviews for our Intern placement. Lord Addington purchased £80.81 (2024: £50) worth of tickets in the Sporting Chance Prize draw.

Trustee Nicholas Bracken donated £120 (2024: £60) to the Silver Hippos fund.

Trustee Damian Bradbury is a director of St. James’s Place, during the period St James’s Place donated 20 hours of meeting room usage for staff and board meetings.

The General Manager, Peter Scott donated £15.75 to a fundraising campaign for a specific charitable project.

The Finance Manager, Sally Hoddell, purchased £30 (2024: £10) worth of tickets in the Sporting Chance Prize draw and donated £1 into unrestricted funds.

The Head of Fundraising, Jo Rolfe purchased £50.30 worth of tickets in the Sporting Chance Prize draw and donated £15.75 to a fundraising campaign for a specific charitable project.

Page 31