REGISTERED COMPANY NUMBER.. 09106604 (England and Wales} REGISTEREO CHARITY NUMBER.. 1161638 ort of the Trustees and Audited Consolidated Financial Statements forthe Year Ended 30 November 2023 for Leicester Riders Foundation
Leicestor Ridèrs Foundation ontents of the Financial Stat8ment5 for the Year Ended 30 November 2023 Page Report ofthe Trustaes Report of the Indepandent Audilors 8 10 11 Consolidated Statement of Financial Actlvities 12 Consolidated Balance Shgel 13 Company Balance Sheet 14 Consolidated Cash Flow Slatoment Notes to the Consolidated Cash Flow Statement Notes to the Financial Statements 17 10 40
Lelcester Riders Foundation Re ort of the Trustees for the Year Ended 30 Novgmber 2023 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial slalemenls of the charity for the year ended 30 November 2023. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES ObltIveS and aims The Foundalioll has the following objectives.. 1. To promote community participation in sport 2nd recreation by provision of services and facilities lo improve people's health. 2. To further or benefit people wilhoul distinction of sex, sexual orientation, race or of political. religious or other opinions by associating together the people and organisalions in a common effort lo advance education and to provide facilities, In the interests of social welfare, for recreation and leisure lime occupation with the objective of improving the conditions of lrfe of those people. 3. For the public beD.efil lo promote education {including social and physical training) of people in such ways as the charity sees fil. 4. To promote social inclusion for the public benefit by preventing peoFAe from becoming socially excluded, relieving the neeijs of those people who are socially excluded and assisting them lo integrate into society. For clarity, 'socially excluded, means being excluded from society, or part of society, as a result of being 8 member of a socially and economically deprived community 5. To promote equality and diversity for the public benefit by promoting ackn'vilies lo foster understanding between peoples of diverse backgrounds. The aiffls of the Foundation are entirely consistent with the objectives described above. Main activities The charity is involved In a wide range of activities which include providing basketball playing opportunities lo boys and girls of all 2ges and abilities, providing coaching to schools and universities, and delivering a wide r8nge of projects, including lo support the most disadvantaged in OLJr community. W• work in p4rtner5hip with th8 education 9ector, the local authoritie), the Police and the Pollce & Crime Cornmissioner, the NHS. other sporting charilies of the professional sporting dubs, as well as a range of public and third sector organisalions. While using physical activity lo improve people's lives Is 21 the core of mLJch of the Foundation's 8clivilies, we are also involved in addressing mental health, anti-social behavioLJr, improving lrfe skills, creating employment opportunities and rLJnning apprenticeship schemes. We work as well with the less able in our communities, developing bespoke programmes and projects. We also run a residential facility in Loughborough for young people and provide scholarships and support lo disadvantaged young people. Strategies The charity works in partnership with a wide range of organisalions lo deliver its charitable Objects in the most effiGienl and most effective ways. This includes local schools, colleges and univers11ies but, also, we work in partnership under the United Leicester umbrella, involving the charitable arms of LCFC, Leicester Tigers and Leice51ershire County Cricket Club. We lake particular adv2nlage of the brand and reach of the Leicester Riders, one of the lop male and female piofessional basketball clubs in the UK, lo maximise our positive impact in the local communities we serve. Page 1
Leicestèr Riders Foundation Re ort of the Trustees for the Period Year Ended 30 Novembèr 2023 OBJECTIVES AND ACTIVITIES Criteria used to Measure Success The charity focuses on improving physical and mental wellbeing of all the people we serve by largeled and well researched Inlervenlions, working writh key players in each sector we serve. The charity also aims lo maximise the potential of all the young people we work with. Significant actlvltles The Foundation secures grants and donations lo deliver its community aclivilies. Other Foundation activities are part funded by the participants andl or the education sector. The Foundation runs a resldenlial property lo support ils education and training delivery in Loughborough. The Foundation's subsidiary undertaking. Leicester Community Sports Arena Limited, has conslrLJCted an manages the operation of a purpose-buill sports arena in LeTCEStEr. In 2022 the Arena built a 1200m2, £2.5m, 2 ball court extension. Significancg of volunteers A number of the young people we engage with, and their parents, provide support and volunteering lo the Foundation. This includes related lo the organisalion and delivery of our many projects and in general adminislralion and support, We have an established pathway for interested young people lo receive training and qualrficalions leading lo employment opportunities with the Foundation and related companies. Public benefit The activities undertaken during the year, as described above, demonslrale how the charily has mel the public benefit requirernents. The Iruslees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 10 have due regard lo the public benefit guitjance PLJblished by the Charity Commission. Page 2
Leicèster Rlders Foundation ort of the Trustees for the Year Ended 30 Novembor 2023 ACHIEVEMENT AND PERFORMANCE Summary of main achiavements We have worked with a record number of educational eslablishmenls and young people over the period. The period has also seen important new inclusion partnerships with Menphys and Vista for the less able. We have signrficanlly increased our engagement with the 3 universities, including expanding the opportunities for students 10 5UPPOrt the Foundation. During the period, the Foundation increased ils OLJlreach through the National Citizens Service project but there were government delays in releasing Ihe funding and in finalising project objectives, reducing the Foundations funding and the number of young people participating, as well as leading to significant inefficiencies. During the period the Foundation completed ils work as one of the lop delivery agents of the national Sport England funded Ambassadors project by the Basketball FourKialion. The Ambassadors project led lo a new Momentum project involving one of the Riders lop players, engaging with young people about the common challenges they will face. We have also continued our work on anti-knife crime and antisocial behaviour activities. Progress towards objectives Particularly with our inclusion work discussed above, our new initiatives wlh holiday food projects, and our increased engagement with students for training, volunteering and qualrficalions opportunities, we have materially expanded the footprint of the Foundation in ils communities during the period. Key performance indicators explaining output achieved by activities For all our projects we maintain detailed records of the people we work wth, and report the key metrics as dictated by the funders. Inevitably these vary project lo project, bul we have had consislenlly good lo excellent feedback from all our stakeholders In the period. Fundraising activities The charity carried out only a few modest fundraising activities, such as a golf day. Page 3
Lelcéster Riders Foundation ort of the Trustees forthe Year Ended 30 November 2023 FINANCIAL REVIEW Financial review The lolal income for the year was £2,244,94312022.' £3,426.0221 which, after deducting expenditure of £2.430,21912022.. £3,003,923) resulted iri nel expenditure of £185,27612022'. nel income £422,009). AI 30 November 2023 the charity had lolal accumulated funds of £3,554,13612022". £3,739,412). Out of this, £90,82912022-. £87,754) is held in reslricled funds. The trustees are satisfied with the financial position of the charity as shown in the financial stalemenls. Significant events that have affected performance during the period The period was partly impacted by significant change in funding by Government of NCS leading lo additional costs ané reduced revenues. The period was also characlerised by labour shortages and increases in insurance, gas and electricity which has the large51 irnpact on our residenllal property and on our subsidiary company which operates the arena. Miligalion actions were undertaken bul were limited in their effectiveness. Principle risks and uncertainties and summary of stralegy for managing these The cosl-of-living crisis irnpacls the Foundation in many ways as is the case for other small businesses. Our staff who are on modest wages struggle lo work as flexibly as in the past, and we have limile(l ability lo increase prices for our services. We will be reviewing all aspecls of our business to reduce overheads in the 2025 financial year where possible and increase joint working with partners, where possible. Factors lik?ly to affect future p8rfomiancè The impact of recent price rises across the board are taking some time lo dissipate, and thus improved work processes will be key. We also continue lo bid for bigger public sector projects in partnership with others, although those are highly cornpelilive. Principle funding sources The anlicipaled funding sources In the future are expected lo bias lo larger public sector grants. Securing these will need the Foundation to form the right partnerships. Beller planned use of the Arena through ils subsidiaTy should also assist the Foundation lo expand ils foolprinl. Resorves policy The Foundation's policy on reserves is that sufficient reserves should be maintained to cover al leasl three months fixed operating costs. FUTURE PLANS Future plans including aSm5 and actlvlties planned to achieve them We are undertaking a detailed review of our business lo re-sel our detailed objectives and delivery. This will include an aim to significantly improve ulilizalion of our new. expanded venue and of our staff That review is anticipated lo complete in 2025, having being delayed this year by the loss of experienced staff, Page 4
Leic8Ster Rlders Foundation ort of the Trustees for the Year Ended 30 November 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is governed by ils governing document, the Memorandum and Articles of Association, and conslilules a limited company, limited by guarantee. The charity was incorporated on 27 June 2014 and adopted ils current Memorandum and Articles of Association on 8 April 2015,. it became a registered charity on 7 May 201 S. STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appolntment of new trustees The FoLJndalion has been established with Iruslees representing those involved with the running of the Leicester Riders Basketball CILJb, local businesses, local authority councillors and local education inslilulions. We undertake a regular skills audit lo ensure our Board is capable of responding to the ever<hanging challenges of our communities, and the wider business environment. We are actively seeking greater diversity in our governance. OLJr governance is currently being reviewed by BBL. on behalf of Sport England. in common with other BBL and WBBL clubs, lo help guide our future dSreclion. Organisational structure and decision making The charity is controlled by ils Board of Trustees. One of the trustees provi(Jes daily Input lo guide the managemerTrl team on behalf of the Board, and lo ensure there is close working with partners. The IrLJslee is also involved in many discussions and meetings with extern81 stakeholders. The Chairman also provides regular support and guidance lo the General Manager. Induction and Training of New Trustees We have recently un(Jertaken 8 review of key areas and intend to provide increased safeguarding Irsining lo a nutnber of Iruslees in light of the importance of that function. Key management remuneration The remuneration arrangemerTrls of key personnel are agreed in consullalion by a subgroup of the Board, including the two Iruslees who most closely inleracl with the Foundation team. R8lat8d parties There are Iwo common members of the Boards of the related companies, who ensure there is close working and appropriate arrangements with related companies. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09106604 (England and Wales) Registered Charity number 1161638 Registered offic Morningside Arena 12 Memory Lane Leicester Leicestershire LE1 3UL Page 5
Leicestgr Riders Foundation ort of the Trustees forthe Year Ended 30 November 2023 REFERENCE AND ADMINISTRATIVE DETAILS Trustees K T Roulledge S R Muggleslone R G Levenslon Iresigned 30.06.20241 M T Ellis Cllr A M D Clarke Iresigned 24.06.20241 S W Winfield D Glover Iresigned 16.09.20241 Mrs T S Hallam (resigned 08.01.20251 Ms D M Donnarumma Director (resigned 16.09.20241 Mrs L Hathaway lappoinled 25.1.20231 Auditors Torr Walerfield Limiled Slalulory Auditor Park House 37 Clarence Street Leicester Leicestershire LE1 3RW Solicitors Edward, Hands & Lewis Solicitors Lid 299 Main Street Bulwell Nollingham NG6 8ED Bankers National Westminster Bank 135 Bishopsgale London EC2M 3UR Key Management Personnel The Foundation has been led by General Manager Laura Shephard supported by key Iruslees, but Ms Shepherd left in December 2023 and a new General Manager has since been iecruiled lo replace her. Page 6
Leicèster Ridors Foundation ort of the Trustees forthe Year Endod 30 Novembgr 2023 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also Ihe directors of Leicester Riders Foundation for the purposes of Company lawl are responsible for preparing the Report of the Trustees and the financial slalemenls ir? accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccoLJnling Practice). Company law requires the trustees lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and applicali of resources. including the income and expenditure, of the chari12ble company for that period. In preparing those financial slalemenls, the Iruslees are required to select suitable accounting policies and then apply them consislenlly-, observe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in bLJsiness. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and lo enable them to ensure that the financial slaletnenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Iruslees are aware.. there is no relevant audit Information of which the charitable companys auditors are unaware-, and the Iruslees have taken all steps that they ought lo have taken lo rnake themselves aware of eny relevanl audit Information and lo establish that the auditors are aware of that information. AUOITORS The auditors, Torr Walerfield Limited, will be proposed for re-appoinlmenl al the forthcoming Annual General Meeting. 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 . 2 9 MLt lo15 and signed on ils behalf by.. KTRO ledge - Tr slee Page 7
Re ort of the Ind endent Auditors to the Members of Leicester Riders Foundation Opinlon We have aLJdited the financial slalemenls of Leicester Riders Foundation {'Ihe charitable company'l and ils subslarY Ilhe 'group'l for the year ended 30 November 2023 which comprise the consolidaled statement of financial activities lincorporaling an income and expenditure account}, consolidated and parent charitable company balance sheets, consolidated cash flow statement and notes lo the consolidated cash flow statement, and notes lo the financial slalemenls, including a summary of signrficanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccounliTrg Practice) including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financi81 stalemenls". give a true and fair view of the slate of the group's and of the charitable company's affairs as al 30 November 2023 and the group's incoming resources and application of resources, Including ils Income and expenditure, for the year then ended., have been properly prepared in 2ccordan¢e with United Kingdom Generally ACpted AcGounting Practice,. and have been prepared in accordance with the requbremenls of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS IUKII and applicable law. Our responsibilities under those sland8rds are further described in the Auditors, responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements Ihal are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fUilled our other ethical responsibilities in accordance with these requiremen15. We believe that the aLJdil evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Material uncertainties relating to going concern We draw allenlion lo Note 2 in the financial slalemenls, which indicates that the group incurred a nel deficit of £185,276 during the year ended 30 November 2023 and, as of that dale, the group had net current liabilities of £1, 149,833. As slale(i in Note 2, these events or conditions, along with other matters as sel forth in Note 2, indicate that a material uncertainly exists that may ¢asl significant doubl on the group's ability lo continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting In the preparation of the financial statements is appropriate. Our evaluation of the trustees, assessmerTrl of the group's ability lo continue lo adopt the going concern basis of accounting included reviewing the group's latest position, agreements and correspondence from key lenders, and value of its assets, all of which enabled us lo assess the trustees. assertion that the group continues lo have the support of key lenders and there is no indic21ion that financing facilities will be withdrawn. Our responsibilities an(J the responsibilities of the Iruslees with respect lo going concern are described in the relevant sections of this report. Page 8
Re ort of the Inde endent Auditors to the Members of Leicester Riders Foundation Other information The trustees are responsible for the other information. The other infomiation comprises the information included in the Annual Report, other than the financial slalemenls and our Report of the Auditors Ihereon. Our opinion on the financial slalemenls does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Iheieon. In connection with our audit of the financial slatemenls. our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slaletnenls or our knowledge obtained in the Course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whether this gives rise lo a material misslalemenl in the financial slalernenls themselves. If, based on the work we have performed, we conclLJde that there is a material misslalemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Opinions on othar matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit., the information given in the Report of the Trustees for the financial year for which the financial statements are prepared Is consislenl with the financial slalements.. and the Report of the Trustees has been prepared in accordance with applicable legal reqLJiremenls. Matters on which we are required to report by exceptlon In the light of the knoedge and understanding of the group and the charitable company and ils environment obtained in the course of the audit, we have not idenlrfied material misslalemenls in the Report of the Trustees. We have nothing lo report in respect of the following mallers where the Companies Act 2006 requires us lo report lo you if, in our opinion". adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us-, or the,, inancial slalemenls are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the Iruslees were not entitled to take advantage of the small companies. exemption from the requirement lo prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of trustees As explained more fully in the Slalemenl of Truslees, Responsibilities, the Iruslees (who are also the directors of the chaiilable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such intern81 control as the Iruslees determine is necessarw lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls. the directors are responsible for assessing the group's and charitable company's ability to continue as a going con[, disclosing. as applicable. mallers related lo going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the charitable company or lo cease operations, Dr have no realistic allernalive bul lo do so. Page 9
rt of the Ind¢ ¢ndent Auditors to the Members of Leicester Riders Foundation Audito3 responsibilitles for tho audlt of the financial stataments Our objectives are lo obtain reasonable assurance about whether the financial slalefflents as a whole are free frorn malerial misslalemenl, whether due lo fraud or error, and lo issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalerllenls Can arise from fraud or error and are considered material rf, individually or in the aggregate, they Could reasonably be expected to influence the economic decisions of users taken on the basis of these financlal statements. The exlenl lo which our procedures are capable of delecling iiregularilies, including fraud is detailed below.. Extenl to which the audlt was considered capable of detecting irregularities, includlng fraud The capability lo delecl irregularities is based on the auditor idenlrfying and assessing the risks of material mi55t3.:emenl of the financial slalemenls, whether due lo fraud or error. and then designing and perfoming audit procedures responsive to those risks, including obtaining audit evidence that IS sufficient an appropriate lo provide a basis for our opinion. al Identpfying and assessing potential risks related to irregularities In Idenlrfying and assessing risks of material misslalemenl in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken.. Understanding the nature of the industry and sector, control environment and business perform2nce', Consideration of the results of our enquiries of managetnenl and Ih05e charged with governance about their own identrficalion and assessment of the risks of irregularities,. Understanding the company's policies and procedures on compliance with laws and regulations and management of fraud risk, Including documentation of instances of non-compliance of laws an regulations and instances of actual, Suspected or alleged fraud-, Consideration of matters discussed among the audit engagemenl team regarding how and where frau might occur in the financial statements and any potential in(Jicalors of fraud", Understanding the legal 2nd regulatory frameworks that the enlily operales in through enquiry of managernenl and those charged with governance and understanding ils industry and sector. The key laws 2nd regulations that were considered lo have an effect on material amounts and disclosures in the financial slalemenls included the Companies Act and lax legislation. bl Audrf£ response lo risks idenlrfied Based on this underslznding, the following audit procedures were designed and performed lo respond lo the risks idenlrfied., Reviewing the financial statement disclosures and testing lo supporting documentation lo assess CDmpliance with applicable laws and regulation5 described as having 2 direct effect on the financial slalemenl,, Enquiring of management, those charged wilh governance and. where applicable, the enlily's solicitors concerning actual and potential liligalion and claims,. Performing analytical procedLJres lo identify any unusual or unexpected relationships that may indicate risks of m21erial misslalemenl due lo fraud., Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regiJl8lors", Performing audil work over the risk of rn2nagemenl override of controls, including testing of journal entries and other adjuslmenls for appropriateness and evaluating Ihe business r81ionale of significant Irarlsaclions outside the normal course of bL)siness', Communication of potential fraud risks lo all engagement team members and remaining alert lo any indication5 of frau(J or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is 3 risk that we will not delecl all irregularities, including those leading lo a material misslalemenl in the financial statemen15 or non<ompliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the evenls and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non- Page 10
ort ofthe Inde endent Auditors to the Members of Leicester Riders Foundation compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresenlalion. A further description of our responsibilities for the audit is located on the Financial Reporting Council's website al". www.frc.org.uk/auditorsresponsibililies. This description forms part of our Report of the Auditors. Use of our report This report is made solely lo the charitable company's members, as a body, In accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our auijil work has been undertaken so that we might slate lo the charitsble company s members those mallers we are required lo slate lo them in an aLJditor's report and for no other purpose. To the fullest exlenl perrnilled by law, we do not accept or assume responsibility ID anyone other than the charitable company ané the charitable company's members as a body, for our audit work, Tor this report, or for the opinions we have formed. Peter Morris FCA (Senior Slalulory Audilorl for and on behalf of Torr Walerfield Limited Stalulory Auditor Park House 37 Clarence Street Leicester Leicestershire LE1 3RW Dale.. 1015 Page 11
Leicestor Riders Foundation Consolidated Statement of Financial Activities Incor oratin an Income and Ex enditure Account for the Year Ended 30 November 2023 Year Ended Period 1.6.21 lo 30.11.22 Total funds 30.11.23 Total funds Unreslricled fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 36,220 93,132 129,352 743.803 Charitable activlties Residential training schemes Community projects Fieldhouse 211,423 211,423 175,799 216,941 82,707 428,349 282,599 175,799 216,941 Other trading activities Investment income Other income 1,426,272 85,156 1,426,272 85,156 1,686.296 98,787 103,481 Total 1,940,388 304 555 2 244.943 3,426.022 EXPENDITURE ON Raising funds 1,641,684 1,641.684 2.080,979 Charitable activities Residential training schemes Community projects Fieldhouse 4,539 178,109 304,407 129,462 172,018 134,001 350,127 304,407 87,361 515.354 320,229 Total 2,128,739 301,480 2,430,219 3,003,923 NET INCOMEIIEXPENDITURE) 1188,3511 3.075 {185,2761 422,099 Transfer between funds Net movement in funds (188,3511 3,075 1185,2761 422,099 RECONCILIATION OF FUNDS Total funds brought foiward 3 651,658 3 739412 3317,313 TOTAL FUNDS CARRIED FORWARD 3.462,307 90,829 2.S54,136 3,739.412 As perrnitted by Section 408 of the Companies Act 2006, the Slalemenl of Financial Activities of the parent company is not presented as part of these financial slalemenls. COMTINUING OPERATIONS All income and expenditure has arisen from continuing aclivilies. Page 12
Lolcèstgr Riders Foundation Consolidated Balance Sheet 30 November 2023 30.11.23 Total funds 30.11.22 Total funds Unreslricled fund Reslricled funds Notes FIXED ASSETS Tangible fixed assets 7,206,888 7,206,888 6,944,273 CURRENT ASSETS Stock Debtors Cash al bank and in hand 15.000 253,408 30,915 15.000 336,504 16,250 304,132 148 169 83,096 299,323 106,298 CREDITORS Amounts falling due within one year 405.621 468,551 18 11,539,985) 115,4691 11,555,454) 12,442,275) NET CURRENT LIABILITIES 11,240,662) 90.829 11,149,8331 11.973,7241 TOTAL ASSETS LESS CURRENT LIABILITIES 5,966,226 90,829 6,057,055 4,970,549 CREDITORS Amounts falling due after more than one year 19 12,502,920) 12,502,920) 11.231,137) NET ASSETS 3,463,307 90,829 3,554,136 3 739,412 FUNDS Unrestricted funds Reslricled funds 23 3,463,307 90,829 3,651,658 87.754 TOTAL FUNDS 3,554,136 3,739412 These financial slalemenls have been prepared in accordance with the provisions applicable to Charitable companies subject lo the small companies regime. The financial slalemenls were approved by the Board of Trustees and aulhorised for issue on and were signed on ils behalf by-. Roulledge - Trustee Page 13
Leicoster Riders Foundation Com Balanee Sheet 30 November 2023 30.11.23 Total funds 30.11.22 Total funds Unreslricled fund Restricted funds Notes FIXED ASSETS Inve51menls 16 CURRENT ASSETS Debtors Cash al bank and in hand 17 247,900 83.096 330,996 23 202 467,045 247.900 106,298 354,198 549,367 REDITORS Amounts falling due within one year 18 1253,0031 115,4691 1268,4721 1364,1481 NET CURRENT ASSETS 90,829 85,726 185,219 TOTAL ASSETS LESS CURRENT LIABILITIES 15,1031 90,829 85,727 185,220 CREDITORS Amounts falling due after more than one year 19 (24,241) (24,241) (34,8911 NET ASSETSIILIABILITIES) 29,3441 90,829 61,486 150,329 FUNDS Unrestricted funds Reslricled funds 23 129,343) 90,829 120,975 29,854 TOTAL FUNDS 61,486 150,329 These financial slalemenls have been prepared in 2ccordance with the provisions applicable lo charitable companies subject to the small corllpanies regime. The financial slalemenls were approved by the Board of Trustees and aulhorised for Issue on ..l.f.. .If!@J' 1¢ 15............ and were signed on ils behalf by.. utled9e ruslrr Page 14
Leicester Riders Foundation Consolidated Cash Flow Statgment for the Year Ended 30 Novèmber2023 Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Notes Cash flows from operatlng activities Cash generated from operstions Interest paid 338,055 38 3731 2,015,777 70 8231 Nel cash (used Inyprovided by operating activities 299,682 1 944 954 Cash flows from investing activiti68 Purchase of tangible fixed assets Finance income 1393,7331 12,023,817) 23 Nel cash lused inllprovided by financing activities 393,7321 12.023.794} Cash flows from financing activities New loans in year Loan and other repayments in year 291,000 16g.872} 76,1821 Net cash (used in)Iprovideé by financing activities 94,050 76,1821 Change In cash and cash 8quivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 27,078 1155.0221 19,814 174,836 Cash and cash equivalents at the end of th¢ rgporting period 46,892 19,814 Page15
Leicester Riders Foundation Notes to tho Consolrdated Cash Flow Statement for the Yèar Ended 30 November 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Period 1.6.21 to 30.11.22 Year Ended 30.11.23 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for.. Finance income Finance costs Loss on disposal of fixed assets Depreciation charges Ilncreaselldecrease in stocks Ilncreaselldecrease in debtors Increaselldecreasel in creditors 1185,2761 422,099 {1} 38,373 1231 70,823 6,995 196,422 116,2501 1136,9301 1,472.641 131,119 1,250 132,3721 384,962 Net cash (used in)IprovidÈd by operations 338,055 2.015,777 ANALYSIS OF CASH AND CASH EQUIVALENTS 30.11.23 30.11.22 Cash in hand NDli¢e deposits (less than 3 monlhsl Overdrafts included in bank102ns and overdrafts falling due within one year 4,872 49,245 4,148 144.021 7,2251 128,3551 Total cash and cash equivalents 46,892 19.814 ANALYSIS OF CHANGES IN NET DEBT At1.1222 Cash llow AI 30.11.23 Net cash Cash al bank and in hand Bank overdraft 148,169 128.3551 {94,052 121,130 54.117 7,2251 19.814 27.078 46,892 Debt Debts falling due within 1 year Debts falling due after 1 year 1206,246} 256,657 1228,7551 {1,040,582 1435,0011 1,297.239 462,9031 11,269,337) 11 732,240 Total 443,089 11,242,259) 11,685,348) Page16
Lgicester Riders Foundation Notes to thg Financial Statements forthe Year Ended 30 November 2023 STATUTORY INFORMATION Leicester Riders Foundation is 8 private company, lirniled by guarantee, registered in England and W21es. The registered number and registered office address can be found in the Report of the Trustees. The members, currently only the trustees, are liable lo contribute an amount not exceeding £10 each towards the liabilities of the charity in the event of insolvency. ACCOUNTING POLICIES Basis of preparing the flnanclal stalements The financial statements of the charitable company, which is a public benefil enlily under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the hislorical cost convention, with the eXpIlO of inveslmenls which are included al market value. Going Concern The group incurred a nel deficit of £185,276 in the year ended 30 November 2023. however, il continues lo maintain a healthy nel asset balanGe of £3,554,136 as shown in the balance sheet on page 13. Due lo the nature of ils business, the group Is affected by volalilily in income, which in turns creates challerjges for short-lerm cash management as reflected by its nel current liabilities of £1,149,833. As al 30 November 2023, the group man2gèd ils financing requirements through a mixture of bank loans and overdrafts amounting lo £289,092, other loans amounting lo £1,450,373 and a loan from K T Roulledge, Iruslee, amounting lo £1.175,481. As of May 2025, the group's bank loans and overdrafts sland al £21,284, other loans total £1,921,731 and the loan from K T Roulledge remains al £1,175,481. The group has historically mel Ils capital and interest repayments, and the trustees are satisfied that the group's lalesl financing position will enable it lo continue meeting all obligations as they fall due. In line with this, the Iruslees, latest discussions with ils lenders have raised no issues of concern. The Iruslees concluded. based on the above, that uNcertainlies exist that cast some doubl on the group's ability lo continue as a going concern and that, therefore, the group may be unable lo realise ils assets and discharge ils liabilities in the normal course of business. However, the Iruslees have a reasonable expectation that the group has adequ31e resources to Continue in operational existence for the foreseeable future and so continue lo adopt the golng concern basis of accounting in preparing the financial slalemenls. Income All income is re¢ogni5ed in the Sialemenl of Financial Activities once the charity h8s enlillemenl lo the funds, il is probable that the income will be received and the amount can be rlleasured reliably. Expenditure Liabilities are recognised as expenditure a5 soon as there is a legal or conslruclive obligation commilling the charity lo that expenditure, il 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 accoLJnled for on an accruals basis and has been classrfied under headings that aggregate all cost related lo the category. Where costs cannot be directly allribuled lo particular headings they have been allocated lo aGlivilies on a basis consislenl with the use of resources. Gr2nls offered subject lo conditions which have not been mel at the yearend date are noted as a commitment bLJI not accrued as expenditure. Page 17
Leicester Riders Foundalion Notes to the Financial Statements for the Year Ended 30 November 2023 Allocation and apportionment of costs Expenditure Incurred on support costs are allocated lo activities based on managemeNt lime spent. Ramaining costs are allOted equally between charitable aclivilies. Tangible fixed assets Depreciation is provided al the following annual rates in order lo write off each a5sel over its estimated useful life. Leasehold property Plant and machinery Fixtures and fittings Motor vehicles Computer equipment 10/0 on cost 200/0 on reducing balance 15Q/o on reducing balance 25Q/o on cost 33 /0 on cost Taxatlon The charity is exempt from corporation lax on ils Charitable activities. Fund accounting Unreslricled funds can be used in accordance with the charitable obieclives al the discretion of the Iruslees. Restri¢led funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial 51alements. Hire purchase and leasing commitments Rentals paid under operating leases are charged lo the Slalemenl of Financial Activities on a strahl- line basis over the period of the lease. Penslon costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged lo the Statement of Financial Activities in the period lo which they relate. Donated goods Donated goods, facilities and services are recognised when the charity has control over the items, it is probable that economics benefits will flow to the charity and the value can be reliably measured. If11 Is impractical to measure the fair value of goods donated for resale or rf the costs of valuation outweigh the benefit lo users of the accounts and the charity of this information, the donated goods are recognised when they are sold. Govomment grants Government grants are recognised in accordance with the performance model. Page 18
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 November 2023 ACCOUNTING POLICIES- continued Investments Investments in subsidiary undertakings are recognised al cost. Stocks Stocks are valued al the lower of cost and eslirnaled selling price less costs lo sell on a first in first out basis. Debtors Short term debtors are measured al Iransaclion price, less any impairtnenl. Loans receivable are measured initially at fair value, nel of transaction costs, and are measured subsequently al amortised cost using the effective rale of interest method, less any impairment. Creditors Short term creditors are measured al the transaction price. Other financial liabilities, Including bank 102ns, are measured initially al fair value, nel of transaction costs, and are measured subsequenlly al amortised cost using the effective interest method. Page19
Leicester Riders Foundation Notes to the Financial Statements continued for th9 Year Ended 30 November 2023 DONATIONS AND LEGACIES- GROUP Period Year Ended 30.11.23 lo 30.11.22 Donations Grants 39,220 90,132 14.113 729,690 129,352 743.803 Government grants of £19, 74512022. £8,137) are included within grants which are not subject lo any conditions. Grants received, included in the above, are as follows.. Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Asian Sports Fund BBC Local Apprenticeship Programme The Big Issue Leicestershire County Council Police and Crime Commissioner for Leicestershire Barclays Community Aid Mencap Mighty Creative Violence Reduction Network National Lollery - I Will Fund Sported Foundation The Basketball Foundation Streelgames Mallioli Wpods Oadby HOC People HAF 1,700 500 2,200 19,600 16,072 12,000 8,137 19.745 1,667 100,000 1.525 24,756 35,000 3,200 400 9,000 5,900 500 13,000 19,800 500,1)00 4,000 474 5.000 15,646 90,132 729,690 Page 20
Leicester Riders Foundatlon Note5 to the Financial Statements - continued forthe Year Ended 30 November 2023 OTHER TRADING ACTIVITIES- GROUP Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Court hire Food and beverages Arena sponsorship Other income Ticket agency fees Fundraising events Ticket Sales Sponsorships Raffles Sale of donated items 564,966 733.024 36,200 29,810 41,412 5,860 678,843 875,051 45,000 10,507 72,414 844 292 4,200 10 15,000 1,426,272 1,686,296 INVESTMENT INCOME- GROUP Perio¢Y Year Ended 30.11.23 lo 30.11.22 Rents received Solar feed income Deposit account interest 48,856 36,299 73,278 25,486 23 85,156 98,787 INCOME FROM CHARITABLE ACTIVITIES- GROUP Period Year Ended 30.11.23 lo 30.11,22 Residential training schemes Community projects Total aclivtties Total activities Fieldhouse Student rent contributions Coaching and classe5 Contributions from allendees Grants Court Hire Camps Junior National League 216,941 216,941 282,599 67.200 67,200 120,130 9,106 202,317 9,106 202,317 3,625 51,758 53,216 3,000 285.025 2.530 75,704 24,667 3,625 51,758 53,216 211,423 175,799 216,941 604.163 793 655 Page 21
Leicester Riders Foundation Notes to the Financial Statements - Continued for the Year Ended 30 November 2023 INCOME FROM CHARITABLE ACTIVITIES_ GROUP- continued Grants received, ineluded in the above, are as follows.. Period 1.6,21 lo 30.11.22 Year Ended 30.11.23 Ingeus LCFC in the Community Erasmus Tunng 10,148 191,663 13,655 79,707 1 D5,279 86,890 202,317 285,025 OTHER INCOME. GROUP Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Covid-19 Grants Kick start Grants Misc Income 95,024 6,874 1,583 103.481 RAISING FUNDS- GROUP Raising donations and legacies Period 1.6.21 lo 30 11.22 Year Ended 30.11.23 Sundries Fundraising events 324 9,515 9.515 324 Other trading activitiès.. Purchases Wages Social security Pensions Other operating costs Depreciation Leasehold property Plant and machinery Fixtures and fillings Motor vehicles Computer equiprnenl Loss on disposal of fixtures and fillings Interest and finance charges 580,871 321,059 36,459 7,853 487,825 750,691 467,764 40,283 T,752 561,041 73,155 8,168 34,242 81,827 6,734 70.327 1 S.554 37,535 6,995 49,707 2 080,655 66,983 1 632,169 1,641,684 2,080,979 Page 22
Lelcester Rldgrs Foundation Notes to the Financial Statements - continued forthe Year Ended 30 November 2023 CHARITABLE ACTIVITIES COSTS- GROUP Grant funding of activities (see note 10 Support costs (see note 111 Direct Costs Totals Residential training schemes Community projects Fieldhouse 129,462 139,126 243210 4,539 211,001 61,1g7 134,001 350,127 304 407 511798 276,737 788.535 10. GRANTS PAYABLE. GROUP Period Year Ended 3011.23 lo 30.11.22 Community projects 8,100 The total grants paid lo institutions during the period was as follows.. Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Leicester Basketball Limited 8.100 11. SUPPORT COSTS- GROUP Support team Finance costs Governance costs Overheads Totals Residential training schemes Community projects Fieldhouse 14,7681 114.3041 9,5371 5,474 16,895 10,949 3,833 11.499 7.667 4.539 211.001 61,197 196,911 52,118 249,029 28,609} 33,318 22,999 276.737 Page 23
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 November 2023 SUPPORT COSTS- GROUP- continued Activity Support team Finantte costs Overheads Governance CDSIS Basis of allotIon According to relevant proportion of lime spent According lo relevant proportion of lime spent According lo relevant proportion of lime spent According lo relevant proportion of lime spent NET INCOMEIIEXPENDITUREI- GROUP Nel incomel{expendilurel is slated after chargingl(credilingl'. Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 Auditors, remuneration 6,200 5,000 13. TRUSTEES. REMUNERATION AND BENEFITS- GROUP There were no Iruslees, remuneration or other benefits for the period ended 30 November 2023 nor for the period ended 30 November 2022. Trustees. èxpenses There were no Iruslees, expenses paid for the period ended 30 November 2023 nor for the perii)d ended 30 November 2022. 14. STAFF COSTS- GROUP Period 1.6.21 to 30.11.22 Year Ended 30.11.23 Wages and salaries Social security costs Other pension costs 698,857 56,227 13,374 981,993 62,532 11,658 768 458 83 Page 24
Leicester Riders Foundation Notes to the Financial Statements - continued forthe Year Ended 30 November 2023 14. STAFF COSTS- GROUP- continued The average monthly number of employees during the period was as follows-. Period 1.6.21 lo 30.11.22 19 13 Year Ended 30 11.23 18 13 12 43 Other trading activities Residential training scheme Support team 45 The number of etnployees whose employee benefits (excluding employer pension costs) exceeded £60.000 was.. Period 1.6.21 lo 30.11.22 Year Ended 30.11.23 £60,001 - £70,000 The expense recognised in the slalemenl of financial activities for defined contribution pension plans is £13,374. The expense is allocated between activities and funds on the basis of work performed by the employees across the categories. Remuneration paid lo key management personnel during the year was £36.38812022 - £47,760). Page 25
Leicester Riders Foundation Notes to the Financial Statements - continued forthe Year Ended 30 November 2023 15. TANGIBLE FIXED ASSETS- GROUP Fixtures and fittings Leasehold property Plant and machinery COST OR VALUATION At 1 December 2022 Addition5 Disposals 6,995,397 336,508 31,307 28,372 639,372 At 30 November 2023 7 331 905 59,679 639,372 DEPRECIATION Al 1 December 2022 Charge for year Eliminated on disposal 359,201 73,155 7,389 8.168 386,952 34,242 AI 30 November 2023 432,356 421,194 NET BOOK VALUE AI 30 November 2023 6.899.549 44,122 218.178 AI 30 November 2022 6.636,196 23,918 252,420 Motor vehicles Computer equipment Totals COST OR VALUATION Al 1 Decembei 2022 Additions Disposals 49,261 130,205 28,853 7,845,542 393,734 AI 30 November 2023 49,261 159,058 8,239,276 DEPRECIATION Al 1 December 2022 Charge for year Eliminated on disposal 49.261 98,466 15.554 901,269 131.119 AI 30 November 2023 49,261 114,020 1,032.388 NET BOOK VALUE AI 30 November 2023 45,038 7 206,888 At 30 November 2022 6,944 273 The Leasehold property has been pledged as securty Page 26
Leicester Riders Foundation Notes to the Financial Statemgnls - continued for the Year Ended 30 November 2023 16. FIXED ASSET INVESTMENTS- COMPANY Shares In group undertakings COST At 1 December 2022 and 30 November 2023 NET BOOK VALUE At 30 November 2023 AI 30 November 2022 There were no investment assets outside the UK. The comF)any's inveslrnenls al the balance sheet dale in the share capital of companies include the following-. Leicester Communily Sports Arena Limited Registered office.. 31 Charter Street, Leicester LE1 3UD Nature of business.. Operation of a sports arena Class of share-. Ordinary holding 100 30.11 23 30.11.22 Assets 7,376,657 7,081.884 3,884,005 3,492,800 3.492,652 3,589.084 1,569,067 2.478,408 1,665,499 2,112.084 96,4321 366.334 Capital and reserves Turnover and other operating income Expenditure Profitlllossl 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- COMPANY 30.11.23 30.11.22 Trade debtors AmoLJnls owed by group undertakings Other debtors Prepayments and accrued income 45,507 118,347 166.786 357 26,624 276.327 156,051 8,043 330 996 467 045 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- GROUP 3011,23 30.11.22 Trade debtors VAT Other debtors Prepayments and accrued income 53.746 67,035 63,387 158,268 15,442 274,403 8355 316.504 Page 27
Leicester Riders Foundation Notes to the Finaneial Statements - continued for the Year Ended 30 November 2023 18. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR . COMPANY 30.11.23 30.11.22 Bank10gns and overdrafts (see note 201 Other loans (see note 201 Trade creditors Social security and other taxes Other creditors Rent deposits Accruals and deferred income 17,248 60,200 74,073 63.439 1,096 8,250 77,083 137,629 14,074 58,360 11,372 8,250 57,380 268.472 364,148 Accruals and deferred income includes deferred income of £32,367 {2022 - £55,640). Deferred income includes grants received in advance of achieving performance related conditions of £15,469 {2022- £41,318). The remaining deferred income consists of income received for delivering services that take place following the year end. 18. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR- GROUP 30.11.23 30.11.22 Bank loans and overdrafts Isee note 20} Other loans (see note 201 Trade creditors Social security and other taxes VAT Other creditors Rent deposits Accruals and deferred income 181,430 260,796 530,138 191,381 101.060 218,141 8,250 64,258 168,332 166,269 1.570.975 180,173 270,8D4 8,250 77,472 1555 454 2 442,275 Accruals and deferred income include deferred income of £32,36712022- £55.6401. Deferred income includes grants received in advance of achieving performance related conditions of £15.46912022 - £41,318). The remaining deferred income consists of income received for delivering services that lake pla following the year end. 19. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR- COMPANY 30.11.23 30.11.22 Bank loans (see note 20} 24.241 34,891 24.241 34,891 Page 28
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 November 2023 19. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - GROUP 30.11.23 3011.22 Bank loans (see note 201 Other loans Isee note 201 Other creditors 107,662 1,189,577 1,205,681 111,275 145,382 974,480 2,502,920 1,231,137 Amounts falling due in more Ihan five years". Repayable by inslalmenls Other loans 603,817 30,827 603,817 30.827 Included in other creditor5 are loans lolalling £1,205,681 {2022.. £974,480) which are interest free and repayable with a minimum of 53 weeks, notice. 20. LOANS- COMPANY An analysis of the malurily of loans is given below.. 30.11.23 30.11.22 Amounts falling due within one year on demand.. Bank overdrafts Bank loans Other loans 7,224 10,024 60,200 67,306 9,777 137,629 214.712 Arllounls falling between one and two years.. Bank loans - 1-2 years Other loans- Repayable in 1-2 years 10,277 10,024 10,277 10,024 Amounts falling due between Mo and five years.. Bank loans - 2-5 years 13,g64 24.867 Page 29
Leicester Riders Foundation Notes to thg Financial Statements - continued for tho Year Ended 30 November 2023 20. LOANS- GROUP An analysis of the malurily of loans is given below. 30.11.23 30.11.22 Amounts falling due within one year on demand.. Bank overdrafts Bank loans Other loans 7.225 174,205 260,796 128,355 39,977 166,269 442.226 334,601 Amounts falling between one and two years.. Bank loans - 1-2 years Other loans - Repayable in 1-2 years 70,677 146,440 40,224 28,639 217,117 68.863 Amounts falling due between two and five years". Bank loans- 2-5 years Other loans - Repayable in 2-5 years 36,985 439,320 71,051 85,916 476,305 156,967 Amounts falling due in more than 5 years.. Other loans 603,817 30,827 603,187 30,827 21. SECURED DEBTS- GROUP The following secured debts are included within creditors.. 30.11.23 30_11.22 Other loans 68,288 174,021 68,288 174,021 The Other IDans are secured by a fixed charge over the leasehold property and a floating charge over all other assets. 22. OTHER FINANCIAL COMMITMENTS- GROUP The company has a financial commitment, not Included In the bal8nce sheet. of £4,740,000 12022.. £4,780,0001_ This represents the ground rent payable, al £40,000 per year, under a lease which expires on 3 December 2140. Page 30
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 November 2023 23. MOVEMENT IN FUNDS- COMPANY Prior year adjuslmenl Nel movement in funds At 30.11.23 At1.12.22 Unrestricted funds General fund 120,975 1150,3181 129.3431 Restricted funds BBC Children in Need National Citizen Service Coach Core European Social Fund Carry a Basketball not a Blade Tackling Inequalities National Lolleiy Sport England Big Issue Mighty Creative Mencap LCC Erasmus Slreelgames Ingeus 1,000 15.339 16,3751 111,3301 1,500 3,400 1,700 2,500 5,000 13,000 1,975 7,758 1,500 13,860 10,148 1,000 27,488 12,149 6,375 11,330 1,500 3,400 1,700 2,500 5,000 13.000 1,g75 7,758 1,500 13,860 10,148 29,854 60,975 90,829 TOTAL FUNDS 150,329 89,3431 61,486 Page 31
Nel movement in funds. included in the above are as follows-. Incoming resources Resources expended Movement In funds Unrestricted funds General lund 500,246 1592,6641 {92.4181 RestriGtod funds Erasmus Street games BBC Chil(Jren in Need National Citizen Servi Coach Core European Social Fun Tackling Inequalities Fund Hardship Fund 2022123 Mighty Creative Apprenticeship Mencap British Basketball League Turing Florid Oadby & Wigslon Borough Council Leicestershire Police- Hoops House of Commons Lelcesler City in the Community People in Development LCC Ingeus 113,287 19,800 500 1111,787} 15,9401 1,500 13,860 500 114,661) 16,3751 111,3301 1,700 114,6611 16,3751 111,3301 1,700 3,000 500 2,200 5.900 13,000 87,987 4,000 1,667 474 19,745 5,000 15,646 10,148 13,0001 15001 {2,2001 14,4251 113,000) 187,9871 14,0001 11,667) {474} 119,745) 15,0001 19,3881 1.475 6,258 10,148 304,554 301,479} 3,075 TOTAL FUNDS 804,800 894 1431 89.343} Page 32
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 Novembor 2023 23. MOVEMENT IN FUNDS- COMPANY- continued Comparatives for movement in funds Prior year adjustment Nel movement in funds Al 30.11.22 Al 1.6.21 Unrestricted funds General fund 35,918 120.6081 105,165 120,475 Restricted funds Erasmus BBC Children in Need National Citizen Servlce Coach Core European Social Fund Carry a Basketball not a Blade Tacking Inequalities Fund National Lollery Sport England 12,9001 2,0 17,300} 7,300 12,149 6,375 11,330 12,149 6,375 11,330 17,000 8,300 9,700 10,000 117,0001 18,3001 19.7001 10,0001 26,954 52,300 4g,4001 29,254 TOTAL FUNDS 62,872 31,692 55,765 150,329 Comparative nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 708.728 1603,563} 105,165 Restrictgd funds Erasmus BBC Children in Need National Citizen Service Carry a Basketball not a Blade Tackling Inequalities Fund National Lottery I Will Fund Sport England Big Issue 1967 Club Hardship Fund Mighty Creative Apprenticeship Mencap Violence Reduction LCFC United Leicester British Basketball League LCC Mallioli Courts 79.707 19,600 191,663 176.8071 126,9001 {191,6631 117,0001 18,3001 19,7(K)I 13,2001 110,000} 112.0001 18.1001 14,0001 124,7561 116,0721 11,5251 135,0001 11,5001 112,1551 {9,0001 18,1371 500,0001 2,900 17,3001 117,0001 18,3001 {9,7001 3,200 110.0001 12,000 8.100 4,000 24,756 16,072 1,525 35,000 1,500 12,155 9.000 8,137 500,000 926,415 975,815 49,4001 TOTAL FUNDS 1635,143 11,579,378) 55,765 Page 33
Leicester Riders Foundation Notes to the Financial Statements - continued for thg Year Ended 30 November 2023 23. MOVEMENT IN FUNDS- GROUP Nel movement in funds Al 30.11.23 At 1.12.22 Unrestricted funds General fund 3,651,658 1188,3511 3.463,307 Restri¢tod funds BBC Children in Need National Citizen Service Coach Core European Social Fund Carry a Basketball not a Blade Tackling Inequalities Nalional Lollery Sport England Big Issue Mighty Creative Mencap LCC 500 500 114,661 } 16,3751 111,3301 1,000 27.488 42,149 6,375 11,330 1.500 1,7 1,700 2,500 5,000 13,000 500 1,500 1,500 3,400 1.700 2,500 5.000 13,000 1,975 7.758 1,500 13,860 10.148 11,7001 1,475 6,258 1.500 13.860 10.148 ErasmLJS Slreelgatnes Ingeus 87,754 3,075 90,829 TOTAL FUNDS 3,73g,412 185,2761 3,554,136 Page 34
Lolcoster Riders FoundatSon Notes to the Financial Statements - continued forthe Year Ended 30 Novémber 2023 23. MOVEMENT IN FUNDS- GROUP- contlnued Nel movement In funds, included in the above are as follows.. Incoming resources Resources expended Movemenl in funds Unrestrlcted funds General fund 1,940,388 12,128,739) 1188,3511 Restrictgd funds Erasmus Slreelgames BBC Children in Need National Citizen Service Coach Core European Social Fund Tacking Inequalities Fund Hardship Fund 2022123 Mighty Creative Apprenticeship Mencap British Basketball League Turing Florida Oadby & Wigslon Borough Council Leicestershire PoliGe House of Commons Leicester City in the Comrnunlty People in Development LCC Ingeus 113,287 19,800 500 1111,7871 15,940) 1,500 13,880 500 {14,6611 16,3751 111,3301 1,700 114,6611 {6,3751 111,3301 1,700 3,000 500 2,200 5,900 13,000 87.988 4,000 1,667 474 19,745 5,000 15.646 10,148 13,0001 15001 12,2001 14,4251 113.0001 187.988} 14,0001 11,6671 1474) 119,7451 15,0001 19,3881 1.475 6,258 10,148 304,554 301 4801 3,075 TOTAL FUNDS Page 35
Lèi¢e5ter Riders Foundation Notes to the Financial Statements - continued for the Year Endèd 30 November 2023 23. MOVEMENT IN FUNDS- GROUP- continued Comparatives for movement in funds Prior year adjuslmenl Nel movement in funds Transfers between funds Ai 30.11.22 A11,12.21 Unrestricted funds Geneial fund 3,258,667 120,6081 186,4011 500,000 3,651,658 Rgstricted funds Erasmus BBC Children in Need National Citizen Servlce Coach Core European Social Fund Carry a Basketball not a Blade Tackling Inequalities National Lottery Sport England Big Issue Mighty Creative Mencap LCC MattKli Courts 12,9001 2,900 {6,80DI 30,000 7,300 500 42,149 6,375 11,330 12,149 6,375 11,330 17,000 8,300 9.700 10,000 115,5001 {6,6001 18,0001 17,5001 5,000 13,000 500 1,500 500,000 1,500 1.700 1,700 2,500 5.000 13,000 500 1,500 1500,0001 26,954 52,300 508,500 87,754 TOTAL FUNDS 3,285,621 31,692 422,099 3,739,412 Page 36
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 Novèmber 2023 23. MOVEMENT IN FUNDS- GROUP- contlnued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 2,499,607 12,586,008) 186,4011 Restrlcted funds Erasmus BBC Children in Need National Citizen Service Carry a Basketball not a Blade Tacking Inequalilies Fund National Lollery I will Fund Sport England Big Issue 1967 Club Hardship Fund 2022123 Mighty Creative Apprenticeship Mencap Violence Reduction LCFC 79,707 19,600 191,663 {76,807} 126.4001 1161,6631 115.5001 16,6001 18,0001 13,200) 17,5001 17,0001 {8,1001 14,000) 111,7561 116,0721 11,025} 135,0001 11,5001 112.155) 19,000} 16,6371 2,0 16,8001 30,000 115,500) 16,6001 18.0001 3,200 {7,5001 5,000 12,000 8,100 4,000 24,756 16,072 1,525 35,000 1,500 12,155 9,000 8,137 500,000 13,000 500 ulte{j Leicester British Basketball League LCC Mallioli Courts 1,500 500,000 926,415 417,915 508.500 TOTAL FUNDS 3 426.022 3,003,923) 422,099 Page 37
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 Novernber 2023 23. MOVEMENT IN FUNDS Details of Restricted funds Street games Street Games are a national charity that secures funding lo promote physical activity amongst disadvantaged communities. It used the Foundation lo address delivery commitments they made in Leicesler. Tackling Inequalities Fund This is a fund particularly basically targeting minority groups, in this case lo provide a social session where South Asian women meet together and play some basketball uncovered and feel safe lo do so. Apprenticeship Funding provided by a IrainSng partner lo lake on full-lime apprentice lo gain a qualification as a Community Aclivalor Coach Apprentice L2. Turing Florida TLJring is replacement for Erasmus programme funéing after UK left the European Union.11 allows young alhleles lo go abroad and play sport with other youngsters and share CLJliures and experIenS, Oadby & Wigston Borough Council Foundation staff provide activities in basketball for young people idenlrfied by the District Council on weekly basis. as part of the Foundation's Positive Futures programme. Lei¢est•rshiro Police Police identified a number of challenged groups of youth for the Foundation lo provide diversionary activities using basketball as Ihe main activity bul with other learning opportunities including inleraclions with players. ouse of Commons Funded trip for young people involved in Foundation'5 progr2rnmes lo visit the Houses of Padiament People in development This project provides positive activities and sporting opportunities using basketball lo promote health, wellbeing and education opportunities and physical aclivily, as well as community engagement and cohesion. Erasmus European Union funded programme lo allow young alhleles lo experience other cultures. BBC Children In Need A project lo help disabled children and young people in Leicester lo have irllproved health and well- being. National Citizen Service A Governrnenl scheme largeled al students lo undertake community engagement activities lo build understanding of their responsibilities as citizens. Coach Core Apprenticeship scheme wth councils and Leicestershire & Rulland Sport. European Social Fund A project lo facilitate upward social mobility for disadvanlaged young people from deprived areas of Leicester through supporiing them to gel and relain meaningful employment. Page 38
Leicester Riders Foundation Notes to the Financial Statements - continued forthe Year Ended 30 Novembèr 2023 Big Issue The Big 155ue charity have provided several grants and loans lo specrfically oddress the Foundations, recovery from Covid. That has allowed the Foundation lo invest in infrastructure and business processes, including marketing. lo help build resources and to assist in the Foundation responding lo other external grant opportunities. Mighty Creative This proje¢l was funded by national government lo aid in the recovery of specrfied Communities frorn Covid. 11 provided funding lo specific cities via a London creative agency lo engage young people in sport and culture aclivilies, including rewarding them for reengagemenl and the most cre2tive inilialives. The Morningside Arena and the Foundation was a key centre for this project in Leicester. LCFC Leicester City in the Community have provided funding for the Leicester Riders Foundation lo support their delivery of their Kicks project, funding by the Premier League Foundation. Mencap Menc8p is a charity supporting those with a learning disability. The Foundation has sel up a nutnber of sessions specifically lor those young people which have proved Immensely popular with the young people and their parents. The sessions are going lo be expanded in terms of frequency and scope. Vista Vista is a charity supporting those with sile10ss. The Foundation has sel up a number of sessions al the Arena specifically for those young people which were very popular with Ihe young peoe. United Leicaster UL is a partnership wlth Leicester Cty in the Community, Leicester Tigers Foundation and the community arm of Leicestershire County Cricket. We have secured a number of small grants from the Premier League Foundation, the NHS and from Everards charity to undertake activities wth young people. Ambassadors Project This Project uses professional BBL Players lo inspire yOLJng people lo overcome their challenges and use edLJcalion as opportunity for growth, via talk5 to schools, assemblies. It is called the Amb3ssadors project and is funded by Sport England via the Basketball Foundation, administered and managed by the BBL. LCC This conlfacl Is lo provide holiday activity camps alongside food provision for the most éisadvanlaged young people who qualify for free school meals. A simi18r contract has recently been won for the County Council. Hardship Fund Our Foundation is accessed by some of the most di58dvanlaged communilles in Leicester and Leicestershire. Some of the young people can afford only a stnall or no contribution lo rijnning costs and may not have access lo suitable footwear. We h2ve sel up a number of funding inilialives lo provide services lo these young people al no cost and lo provide donated malerrdls, including playing boots. Page 39
Leicester Riders Foundation Notes to the Financial Statements - continued for the Year Ended 30 November 2023 24. RELATED PARTY DISCLOSURES The charitable company has taken advantage of exemption, under the terms of Financial Reporting SlandÈrd 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, not lo disclose related party transactions with wholly owned subsidiaries within the group. During the period, the charity made loan advances of £10,499 to Le1$ter Basketball Limited, company controlled by two of the Iruslees. The lolal balance oulslanding is £166,241 12022. £155,742). This loan is interest free and repayable on demand. Included within other creditors due in more than 1 year is a loan of £1,175,481 {2022'. £974.4811 owed lo K T Roulledge, a Iruslee of Leicester Riders Foundation and a (Jireclor of Leicester Community Sports Arena Limited. The loan is interest free and repayable with a minimum of 53 weeks, notice. Page 40