**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:
- Health and nutrition programmes.
- Education support to increase access to and retention in schooling.
- Coaching, mentoring and sporting opportunities.
- Building or improving educational and sports facilities where needed.
As a registered charity, Atlas works to ensure all our activities align with the Charity Commission’s guidance by:
- Enhancing life opportunities for children in vulnerable situations.
- Reducing causes and effects of human suffering through practical, sustainable interventions.
- Supporting health, education and inclusion without discrimination.
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:
- Long-term partnerships – we commit to funding projects we have worked with before, who have proven their ability to deliver tangible change, on a long-term basis.
- New partnerships – we invest in a more restrictive way over a pre-defined time-period and against more specific criteria.
- Innovation – One-off payments against specific pilot projects.
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:
- Atlas trek to Morocco raising £113,883 net.
- The Winchester Christmas Ball 2024 raised £14,345 for Atlas.
- Donations received from FunBus Ltd in regard to The Jason Leonard Annual Dinner 2023, where Atlas was the beneficiary, totalled £20,833.
- Donations received from FunBus Ltd in regard to The Jason Leonard Annual Dinner 2024, where Atlas was the beneficiary, totalled £45,634.
- Individual donations linked to The Jason Leonard Annual Dinner 2025 totalled £37,666 net, which are restricted donations for the Sunday Rugby Feeding Programme at KRDA in Nairobi, Kenya.
- Atlas was the charity of the year at Dauntseys school for the 2024-25 academic year. During 2025 pupils at Dauntseys school raised £13,637 net, for KRDA in Kenya.
- Atlas received £110,211 in grant awards for the TackleLondon project.
- A restricted donation of £75,000 was received for our DigiBus project.
- £27,000 was received in donations restricted to the Israel co-existence through Rugby project.
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).
- 100% of projects worked in partnership with local schools.
- 58% of participants were female.
- 77% of projects supplied children with nutritious food and clean water to drink.
- 54% of projects supplied female participants with feminine hygiene products.
- 62% of projects provided children with additional mental health support.
- 31% of projects provided children with regular medical check-ups and medicine.
- 69% of projects educated children on at least one of the following inclusivity topics: healthy relationships, consent, self-worth, female hygiene.
- 62% of projects educated children on at least one of the following health topics: healthy eating, HIV/AIDS/other diseases, the dangers of alcohol and drugs.
- 92% of projects supplied children with kit to wear.
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:
- Computer equipment Straight line over 3 years
## **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