**REGISTERED COMPANY NUMBER: 09106604 (England and Wales) REGISTERED CHARITY NUMBER: 1161638**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 May 2021**
## **for**
## **Leicester Riders Foundation**
**Leicester Riders Foundation**
## **Contents of the Financial Statements for the Year Ended 31 May 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**|5|to|6|
|**Notes to the Financial Statements**|7|to|14|
**Leicester Riders Foundation (Registered number: 09106604)**
## **Report of the Trustees for the Year Ended 31 May 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Foundation has the following objectives:
1. To promote community participation in sport and recreation by provision of services and facilities to improve people's health.
2. To further or benefit people without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the people and organisations in a common effort to advance education and to provide facilities, in the interests of social welfare, for recreation and leisure time occupation with the objective of improving the conditions of life of those people.
3. For the public benefit to promote education (including social and physical training) of people in such ways as the charity sees fit.
4. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For clarity, 'socially excluded' means being excluded from society, or part of society, as a result of being a member of a socially and economically deprived community.
5. To promote equality and diversity for the public benefit by promoting activities to foster understanding between peoples of diverse backgrounds.
The aims of the Foundation are entirely consistent with the objectives described above.
## **Significant activities**
The Foundation has established and is assisting in running an education and training support facility in Loughborough. It has also secured grants to deliver community basketball coaching as part of its educational and social inclusion programs.
The Foundation's subsidiary undertaking, Leicester Community Sports Arena Limited, has constructed and now manages a purpose built sports arena in Leicester.
## **Public benefit**
The activities undertaken during the year, as described above, demonstrate how the charity has met the public benefit requirements.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
## **FINANCIAL REVIEW**
## **Financial review**
The trustees are satisfied with the financial position of the charity as shown in the attached financial statements.
## **Reserves policy**
The Foundation's policy on reserves is that sufficient reserves should be maintained to cover at least three months fixed operating costs.
Page 1
**Leicester Riders Foundation (Registered number: 09106604)**
## **Report of the Trustees for the Year Ended 31 May 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is governed by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee.
The charity was incorporated on 27 June 2014 and adopted its current Memorandum and Articles of Association on 8 April 2015; it became a registered charity on 7 May 2015.
## **Recruitment and appointment of new trustees**
The Foundation has been established with trustees representing those involved with the running of the Leicester Riders Basketball Club, local businesses, local authority councillors and local education institutions.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
09106604 (England and Wales)
## **Registered Charity number**
1161638
## **Registered office**
31 Charter Street Leicester Leicestershire LE1 3UD
## **Trustees**
K T Routledge S R Mugglestone R G Levenston M T Ellis Cllr A M D Clarke S Ismail S W Winfield D Glover Mrs T S Hallam (appointed 17.2.21)
## **Independent Examiner**
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 25 February 2022 and signed on its behalf by:
K T Routledge - Trustee
Page 2
## **Independent Examiner's Report to the Trustees of Leicester Riders Foundation**
## **Independent examiner's report to the trustees of Leicester Riders Foundation ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
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 Company 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.
Peter Morris FCA Institute of Chartered Accountants in England and Wales torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
25 February 2022
Page 3
**Leicester Riders Foundation**
## **Statement of Financial Activities**
## **(Incorporating an Income and Expenditure Account) for the Year Ended 31 May 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
46,379
**Charitable activities**
Residential training schemes
129,805
Community projects
9,398
Other trading activities
4
-
Investment income
5
48,463
Other income
6
154,652
**Total**
388,697
**EXPENDITURE ON**
Raising funds
8
**Charitable activities**
7
Residential training schemes
276,490
Community projects
103,342
**Total**
379,840
**NET INCOME/(EXPENDITURE)**
8,857
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
27,060
**TOTAL FUNDS CARRIED FORWARD**
35,917|Restricted
funds
£
42,255
-
-
-
-
-
42,255
-
-
15,301
15,301
26,954
-
26,954|31.5.21
Total
funds
£
88,634
129,805
9,398
-
48,463
154,652
430,952
8
276,490
118,643
395,141
35,811
27,060
62,871|31.5.20
Total
funds
£
174,518
128,205
48,328
3,430
18,058
39,549
412,088
4,380
262,602
174,856
441,838
(29,750)
56,810
27,060|
|---|---|---|---|
The notes form part of these financial statements
Page 4
## **Leicester Riders Foundation (Registered number: 09106604)**
## **Balance Sheet**
## **31 May 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
13
1
**CURRENT ASSETS**
Debtors
14
228,774
Cash at bank and in hand
106,133
334,907
**CREDITORS**
Amounts falling due within one year
15
(258,498)
**NET CURRENT ASSETS**
76,409
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
76,410
**CREDITORS**
Amounts falling due after more than one year
16
(40,493)
**NET ASSETS/(LIABILITIES)**
35,917
**FUNDS**
18
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
211,112
211,112
(184,158)
26,954
26,954
-
26,954|31.5.21
Total
funds
£
1
228,774
317,245
546,019
(442,656)
103,363
103,364
(40,493)
62,871
35,917
26,954
62,871|31.5.20
Total
funds
£
1
199,137
14,892
214,029
(136,970)
77,059
77,060
(50,000)
27,060
27,060
-
27,060|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
## **Leicester Riders Foundation (Registered number: 09106604)**
## **Balance Sheet - continued 31 May 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25 February 2022 and were signed on its behalf by:
K T Routledge - Trustee
The notes form part of these financial statements
Page 6
**Leicester Riders Foundation**
## **Notes to the Financial Statements for the Year Ended 31 May 2021**
## **1. STATUTORY INFORMATION**
Leicester Riders Foundation is a private company, limited by guarantee, registered in England and Wales. The registered number and registered office address can be found in the Report of the Trustees.
The members, currently only the trustees, are liable to contribute an amount not exceeding £10 each towards the liabilities of the charity in the event of insolvency.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Preparation of consolidated financial statements**
The financial statements contain information about Leicester Riders Foundation as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
## **Related party exemption**
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 7
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Government grants**
Government Grants receivable in relation to expenditure are recognised when the expenditure is charged in the Statement of Financial Activities.
## **Debtors**
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
## **Creditors**
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
## **Going concern**
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
## **3.**
## **DONATIONS AND LEGACIES**
|Gifts
Donations
Grants
Grants received, included in the above, are as follows:
ESF Community Learning and Skills
Leicestershire & Rutland Community Foundation
BBC
Local Apprenticeship Programme
Ingeus
National Lottery
United Leicester
Leicestershire County Council||31.5.21
£
-
46,379
42,255
88,634
31.5.21
£
11,330
-
-
-
24,550
-
-
6,375
42,255|31.5.20
£
71,104
44,369
59,045|31.5.20
£
71,104
44,369
59,045|
|---|---|---|---|---|
||||174,518||
|||||31.5.20
£
3,070
28,400
2,500
1,425
18,350
300
5,000
-|
|||||59,045|
Page 8
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
|**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
**5.**
**INVESTMENT INCOME**
Rents received
**6.**
**OTHER INCOME**
Covid-19 Grants
**7.**
**CHARITABLE ACTIVITIES COSTS**
Residential training schemes
Community projects
**8.**
**SUPPORT COSTS**
Support
team
£
Residential training
schemes
60,216
Community projects
86,653
146,869|Finance
costs
£
147
146
293|31.5.21
£
-
31.5.21
£
48,463
31.5.21
£
154,652
Support
Direct
costs (see
Costs
note 8)
£
£
206,465
70,025
22,182
96,461
228,647
166,486
Governance
Overheads
costs
£
£
3,812
5,850
3,812
5,850
7,624
11,700||31.5.20
£
3,430
31.5.20
£
18,058|
|---|---|---|---|---|
|||||31.5.20
£
39,549|
||||Totals
£
276,490
118,643||
||||395,133||
||||Totals
£
70,025
96,461||
||||166,486||
Activity Basis of allocation Support team According to relevant proportion of time spent Finance costs Equally across all charitable activities Overheads Equally across all charitable activities Governance costs Equally across all charitable activities
Page 9
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.5.21|31.5.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|-|286|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **11. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|31.5.21
£
136,771
7,693
1,445
145,909|31.5.20
£
130,895
1,170
1,091|
|||133,156|
The average monthly number of employees during the year was as follows:
|Residential training scheme
Support team|31.5.21
9
11
20|31.5.20
10
13
23|
|---|---|---|
No employees received emoluments in excess of £60,000.
## **12. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
||Computer|
||equipment|
||£|
|**COST**||
|At 1 June 2020 and 31 May 2021|859|
|**DEPRECIATION**||
|At 1 June 2020 and 31 May 2021|859|
|**NET BOOK VALUE**||
|At 31 May 2021|-|
|At 31 May 2020|-|
Page 10
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **13. FIXED ASSET INVESTMENTS**
|**13.**|**FIXED ASSET INVESTMENTS**||||
|---|---|---|---|---|
||||Shares|in|
||||group||
||||undertakings||
||||£||
||**MARKET VALUE**||||
||At 1 June 2020 and 31 May 2021||1||
||**NET BOOK VALUE**||||
||At 31 May 2021||1||
||At 31 May 2020||1||
||There were no investment assets outside the UK.||||
||The company's investments at the balance sheet date in the share capital of companies||include the||
||following:||||
||**Leicester Community Sports Arena Limited**||||
||Registered office: 31 Charter Street, Leicester LE1 3UD||||
||Nature of business: Operation of a sports arena||||
|||%|||
||Class of share:|holding|||
||Ordinary|100|||
|||31.5.21|31.5.20||
|||£|£||
||Aggregate capital and reserves|3,222,651|3,372,481||
||Loss for the year|(149,829)|(229,540)||
|**14.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||31.5.21|31.5.20||
|||£|£||
||Trade debtors|206,261|199,137||
||Amounts owed by group undertakings|21,500||-|
||Other debtors|1,013||-|
|||228,774|199,137||
Page 11
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
|**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 17)
Trade creditors
Social security and other taxes
Other creditors
Rent deposits
Accruals and deferred income
**16.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 17)
**17.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years
**18.**
**MOVEMENT IN FUNDS**
At 1.6.20
£
**Unrestricted funds**
General fund
27,060
**Restricted funds**
Erasmus
-
National Citizen Service
-
Coach Core
-
European Social Fund
-
-
**TOTAL FUNDS**
27,060|31.5.21
£
9,507
32,722
29,984
1,788
8,400
360,255
442,656
31.5.21
£
40,493
31.5.21
£
9,507
9,747
30,746
-
Net
movement
in funds
£
8,857
(2,900)
12,149
6,375
11,330
26,954
35,811|31.5.20
£
-
10,357
13,863
1,769
5,700
105,281
136,970
31.5.20
£
50,000
31.5.20
£
-
10,000
30,000
10,000
At
31.5.21
£
35,917
(2,900)
12,149
6,375
11,330
26,954
62,871|
|---|---|---|
||||
Page 12
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **18. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Erasmus
National Citizen Service
Coach Core
European Social Fund
**TOTAL FUNDS**|Incoming
resources
£
388,697
-
24,550
6,375
11,330
42,255
430,952|Resources
Movement
expended
in funds
£
£
(379,840)
8,857
(2,900)
(2,900)
(12,401)
12,149
-
6,375
-
11,330
(15,301)
26,954
(395,141)
35,811|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At 1.6.19
in funds
£
£
56,810
(29,750)
56,810
(29,750)|At
31.5.20
£
27,060|
|---|---|---|
|||27,060|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Satellite clubs
Building a Stronger Britain Together
Erasmus
BBC Children in Need
National Citizen Service
Coach Core
European Social Fund
Hoops 4 Health
**TOTAL FUNDS**|Incoming
resources
£
300,334
2,484
28,400
41,825
2,500
26,000
2,475
3,070
5,000
111,754
412,088|Resources
Movement
expended
in funds
£
£
(330,084)
(29,750)
(2,484)
-
(28,400)
-
(41,825)
-
(2,500)
-
(26,000)
-
(2,475)
-
(3,070)
-
(5,000)
-
(111,754)
-
(441,838)
(29,750)|
|---|---|---|
Page 13
continued...
**Leicester Riders Foundation**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 May 2021**
## **18. MOVEMENT IN FUNDS - continued**
## **Details of Restricted funds**
## **Leicester Youth Offending Service (LYOS)**
Targeted intervention with identified young people in contact with LYOS to give them experience of interacting with staff and leaders in the Leicester Riders Foundation team including involvement in specialist sport activities.
## **Satellite clubs**
Community basketball project funded by Basketball England aimed at increasing regular sport participation by young people over 14 years of age in a fun environment. The initial funding has been supplemented by numerous subsequent grants and donations.
## **Building a Stronger Britain Together (BSBT)**
The Home Office's BSBT programme supports civil society and community organisations who work to create more resilient communities, stand up to extremism in all its forms and offer vulnerable individuals a positive alternative, regardless of race, faith, sexuality, age or gender.
## **Erasmus**
European Union funded programme to allow young athletes to experience other cultures.
## **BBC Children in Need**
A project to help disabled children and young people in Leicester to have improved health and well-being.
## **National Citizen Service**
A Government scheme targeted at students to undertake community engagement activities to build understanding of their responsibilities as citizens.
## **Coach Core**
Apprenticeship scheme with councils and Leicestershire & Rutland Sport.
## **European Social Fund**
A project to facilitate upward social mobility for disadvantaged young people from deprived areas of Leicester through supporting them to get and retain meaningful employment.
## **Hoops 4 Health**
Supported by Loughborough University School of Business, a project for pupils in school years 5 and 6 covering, alongside basketball, fitness, healthy eating and non-smoking.
## **19. RELATED PARTY DISCLOSURES**
There is a balance of £96,814 (2020: £138,651) owed to the foundation by a company controlled by two of the trustees. This loan is interest free and repayable on demand.
Page 14