REGISTERED COMPANY NUMBER: 09106604 (England and Wales) REGISTERED CHARrrY NUMBER: 1161638 ort of tho Tru8tees and Audlt•d Consolldatod Flnanclal Stst•ments for the Y•ar Ended 30 Novembw 2024 Le tor Rldors Foundatlon
L Icester Rlders Foundatlon Contents of the Flnanclal Statements for the Year Ended 30 November 2024 Page Report of the Truste8s 1 to 7 Report of the Independent Audltors 8 to 11 Consolldated Statement of Financlal Actlvltles 12 Consolldated Bal Sh••t 13 Company Balance Sheet 14 Consolidated Cash Flow Statement 15 Notes to the Consolldatod Cash Flow Stat•ment 16 Notes to the Flnanclal Statements 17 to 40
Le1cter Rlde Foundalion Re ort of the Tru8tee8 for th• Year Ended 30 Nov mber 2024 The trustees who are also directors of the charity for the purposes of the Companoes Act 2006, present thelr report wlth the financial ststements of the clxrty for Ihe year ended 30 November 2024. The trustees have adopted the provisions of Accounting and Reportlng by Charities: Statement of Recommended Practke appllcable to charities preparlng their accounts In aordanCe with the Financial Reportlng Stsndwd appllcable In the UK and Republic of Ireland (FRS 102) (effective 1 Januw 2019). OBJECTIVES AND ACTMTIES Objectlves and al The FourKlatSon has following objectives: 1. To promole communlty paruclpatlon In sport arKI recreation by rxovision of servlces and facilities to Improve people's health. 2. To further benefft people without distinctlon of sex, sexual orientatlon, race or of political, religious or other opinlons by associating together the people and organisations In a common efftirt to advan( education and to provide facilities. in the inlerests of soclal weffare, for recreation and leisure time occupation with the objective of improvirKJ the Corll10nS of Ilfe of those people. 3. For the public benefit to promote education (Including social and physlcal training) of people In such ways as the tharity sees fjt. 4. To promote social inclusion for the public benefrt by prevenling people from becoming socialty exduded, relieving the needs of those people who are socially excluded and assisllng them to integrate into society. For clarity, 'socI81 exduded, means being excluded from soclety, or part of socFety, as a result of being a member of a socially and economlcalty dewlved communty. 5. To promote eqLity and dNersty for the publlc benefit by promoting activities to foster UrerstandIng belween peoples of dNerse backgrounds. The alms of the Foundatlon are entlrely conslstent with the objeclives dexribed above. IAaln actlvftles The charty Is Involved in a wide range of activities whlch Include providing basketball playing opportunities to boys and girfs of all ages and abilities, providing coachlng to schools arKI universities, and delivering a wide range of projects, indudlng to support the most disadvantaged In our community. We work In p8rtn8rship with education sector, the local authorities, the Pollce and the Police & Crlme Commissioner, the NHS, Other sportirvJ charilies of the professional sportlng clubs. as well as a range of public and third sector organisations. Whlle uslng physical activity to Improve people's lives is at the core of much of the Foundatlon's actfvttles, we are also involved In addressing mentsl health, anli-social b8havK)ur, Improving life skills, creatlng employment opportunltles aThY runnlry apwenticeship schemes. We work as well with the less able in our communtties, developlng bespoke programmes atKI projects. We also run a residential facility in Loughborough for young people and provide scholarships and support to disadvantaged young people alu9h we plan to close that facS11ty In summer 2025. Strategles The charty YKJrks In partnership wilh a wide rawe of organisatlons to deliver Its charitable obits in the most efficient and most effective ways. Thls indudes local SCIoIs, colleges and unlversltles but, also, we work In partnership under the Unlted Leicester umlxella, involving the charitable amis of LCFC, Lekester Tlgers and Le5terShIre County Cricket Club. We tske particular advantage of the brand arrfl reach of the Leicester RId5, one of the top maje and female professional baskett)all dubs in the UK, to maxSmSse our posftlve Impact in the local communities we serve. Page 1
Lelcester Rldors Foundatlon Rg rt of tho Trustees for the Period Year Endod 30 November 2024 OBJECTIVES AND ACTivrriES The charity focuses on improving physical and mental wellbeing of all the people we serve by tsrgeted and ell researched inlervenlions, working with key players in each sector we serve. charity also aims to maximise the potential of all the young people we work with. Slgnlflcant actlviths The Foundation secures grants and donations to deliver its community actlvlties. Other Foundation actlvltles are part fvnded by the p8rticipants andlor the education sector. The Foundation runs a resldential propety to support fts education and tralnlng delivery In Loughbwough. The Foundation's subsidiary undertaking, Lekester Communty Sports Arena Llmlted, has constructed and manages the operation of a purpose-built sports arena in Lefcester. In 2022 the Arena built a 1200m2. £2.5m, 2 ball court extension. SlgnlfirAnc• of volunt•8r8 A number of the young people we engage with, and their parents. provmle support arKI volunteering to tt FndatIon. This includes relate(I to Ihe organisation arKI delivery of our many projects and in general administration and support We have an established pathway for interested young people to receive training and qualifrcations leading to employment OPFX)rtunities wlth the Foundation and rdated companies. Public banafit The activities undertaken during the year, as described above, demonstrate how the charity has met the public benefrt requ5rements. The trustees confirm that they have complied with the requirements of section 4 of the Charitles Act 2011 to have due regard to the public benefit guidance publlshed by the Charity Commi&8ion. Page 2
Lelc•8ter Rld•rs Foundatlon Ro rt of the Tru8t¢e8 for the Year Ended 30 November 2024 ACHIEVEMENT AND PERFORMANCE Summary of maln achievements We have worked with a record number of educational establishments and young people over the period. The perio(1 has also seen important new inclusion partnwships with Menphys and Vlsta for the less able. We have increased our engagement with the 3 unAversities. Including expanding the opporknjnities for students to support the Foundation in 8 variety of volunteering and work placement roles. We have also continued our work on 8nti-knife crime and antisoclal behaviour activitie5. Progress towards obJectlves Particularly with our inclusion work discussed above, our continued inltlatives 1th holiday food projects. and r increase(J engagement with students for training, volunteering and qualifications opportunities. we have maintained the footprint of the Foundation in its communities during the period. while sorne projects had reduced funding. Kay perfornianco Indlcators èxplaining output achleved by actlvltie8 For all our projects vrfe maintain detailed records of the people we work with. and report the key metrics as dictated by the funders. Inevitably these vary project to project. but we have had consistently good to excdlent feedback from all our stakeholders in the period. Fundralsing actlvities The charity carried out only a few modest fundralslng activities, such as events involving the Club's supporters and awards dinners. Page 3
Lol¢e8ter Rlders Foundatlon . ort of the Trust••8 for th• Year En 30 November 2024 FINANCIAL REVIEW Flnanclal revlow The total income for tha year was £2,200,550 (2023: £2,244,943) which, after deductlng expenditure of £2,248,927 (2023". £2,430,219) resulted In net kncome of £48,377 (2023: net expendtture of £185,276). At 30 November 2024 the charlty had total reserves of £209,026 {2023: £61,486). £89,330 (2023: £90,829) of this Is held In restricted funds. The trustees are satisfied with the finandal position of the charity as shown in the finandal statements. Signlfi¢ant events that have affect perforniance durfng the perlod During the perlod there was a change In General Manager wAth an extended perfod under interlm 8rraryements. in order to have an Ilependt review of the Foundatlon and its leadarshlp, before a new Manager was recruited In August 2024. The period was also chardcterlsed by slgnifKanty Increased labour costs and shortages and Increases in insurance, gas and electrlcity whlch has the largest Impact on our residentlal propety and on our subsldiary company which operates the arena. Mitigatlon adions were undertaken but were limited in their effectiveness. Prlnciple rlsk8 and untaInti8$ and summary of strategy for managlng these The cost*-11vIng crisis impacts the Foundalion in many ways as is the case for other small businesses. Our staff who are on modest wages struggle to work as flexibly as in the past, and we have limited abllty to Increase prices for our services. We will be reviewed all aspects of our business to reduce overtrEads where possible and increase joint worklNJ with partners. Factors Ilkely to affect futuro perfornianco The imm of recent prlce rises across board are tskirKJ some tlme to dissipate, and thus improved work ocesses will be key. We also contlnue to bld for bigger public sector projects In partnership wlth others. although those are highly competitive. Prlnclpl• fundlng sourc•s The anticipated furKJing sources in the future are expected to bias to larger public sector grants. Securing these will need the Foundation to fonn the right partnershlps. Better planned use of the Arena through its subsidiary should also assist the FndatIon to expand Its footprfnt. This has InclLKled working wlth Leicester College on bullding a sports academy. Reserv pollcy The FourKJalion's policy on reserves Is thal sufficient reserves should be maintsine(I to cover at least thre8 monlhs red operatlng costs, although that has been challenged more recently. FUTURE PLANS Future plans including alms and activities planned to achlevo them We had completed a detailed revlew of our business by a third paty to re-set our detalled objectives and deltvery. This Included an aim to slgnifKantly improve utilizatlon of our new, expanded venue and of our staff. Page 4
Lel er Rkl•rn Foundatlon Re rt of th• Trust••8 for tho Year Ended 30 November 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 governed by its governing document, the Memorandum and Artldes of Assoo*ion, and constitutes a limFted company, limtted by guarantee. T1 charity was incorporated on 27 June 2014 and adopted its current Memorandum and Artides of Association on 8 April 2015; It became a registered charlty on 7 May 2015. RKruitment and appolntment of now truste•8 The Foundation has been established wtth trustees rewesentlng those involved with the running of the Leicester Riders Basketball Club. l¢xal businesses, local aulhorlty and local education representatives. We undertake a regular skills audlt to ensure our Board is capable of responding to the ever-thangSr allenges of our communities, and th& wider business environment. We are actively seeklng greater diversAty In our governance. Oryanlsatlonal Structuro and declslon maklng The charity is controlled by its Board of Trustees. Two of the trustees provide regular Input to gulde the management team on behalf of the Board. and to ensure there is close working with partners. On8 of the trustee is also involved in many dlscusslons and meetings wlth extemal stakeholders. Indu¢tlon and Tralnlng of Now Tru8tee6 We have undertaken a review of key areas and intend to continue to Frovide Increased safeguarding trainlng to a number of trustees In Ilght of the importance of that functi¢)n. Koy management remuneratlon The remuneration arrangements of key personnel are agree(I In consult8tion by a subgroup of the Board. includlng the two trustees who most dosely Interact with the Foundatlon team. R•laltKI parti•8 There are two common members of the Boards of the related companles, who ensure there is close wYKking and appropriate arrangements with related companies. One of those members is an accountant, and the companAes share common internal financial resources, arKI Secu extemal accounting support and advke from Duncan & Toplis. REFERENCE AND ADMINISTRATIVE DEfAILS R•gl8t•rod Company numbor 09106604 (Er¥Jland and Wales) Registered Charfty number 1161638 Reglstgrgd office Mattloll Arena 12 Memory Lane Leicester Lelcestershlre LE13UL Page 5
Lelcester Rlder8 Foundatlon Re ort of the Trustees for the Year Ended 30 Novembar 2024 REFERENCE AND ADIAINISTrATIVE DEfAILS K T Routledge S R Mugglestone R G Levenslon (resigned 30.06.2024) M T Ellis Cllr A M D aarke (resigned 24.06.2024) S W Winfield D Glover (resigned 16.09.2024) Mrs T S Hallam (resigned 08.01.2025) Ms D M Donnarumma (reslgned 16.09.2024) Mrs L Hathaway Audltors Duncan & Toplrs Audit Limited Statutory Auditor Park House 37 Clarence Streat LeKester Leicestershlre LE13RW Solicltors Edward, Hands & Lewis Solicrtors Ltd 299 Main Stt Bulwell Nottingham NG6 8ED Bank•rs National Westminster Bank 135 Bishopsgate London EC2M 3UR Kay Managwnent Per60nnel The Foundatlon has been le(1 by General Manager Robert Anthony Jarram supported by key trustees. Page 6
Lekester Riders Foundatlon Re ort of tho Trustee8 for the Year Ended 30 Novomber 2024 STATEMENT OF TRUSTEES. RESPONSIBILrriES The trustees (who are also the directors of Lelcester Riders Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and financial statements in accordance wlth applicable law and Unfted Kingdom Accountlng Standards (United Kingdom Generalty Accepted Accountlng Practi). Company law requlres the truslees to prepare financial statements for each financial year whth give a true and falr view of the slate of affairs of Ihe charitable company and of the incoming resources and application of resources, indudlng the Income and expenditure, of the charllable company for that period. In preparing those financlal statements, the trustees are required to select suitable accounting policies and then apply them consistenti observe the methods and prlnclples In the Charity SORP," make Judgemenls and estimates that are reasonable arKI prudent; prepare the financial statements on the going concem basls unless rt Is Inappropriate to presume that the ckfjritable company wll continue In buslness. The trustees are responsible for keeplng proper accounting records which disdose wlth reasonable accuracy al any time the firnCIal position of the charitable company and to enable them to ensure that the flnanclal statements comply with Companies Act 2006. They are also responslble for safeguardiThJ the assets of the charitable company and hence for taklng reasonable steps for the preventlon and detection of fraud and other irregularities. In so far as trustees are aware: there is no relevant audlt infomation of which the charitable CoMpanS auditors are unaware: and the trustees have taken all steps that tWI ought to have taken to make themsefves aware of any relevant audlt infonnation and to establish thal auditors are aware of that InformatK)n. AUDITORS The audltors, Duncan & Toplis Audit Limlted. will be proposed for re-appolntment at the forthcoming Annual General Meeting. This report has been prepared in acccffdance with the special provisions of Part 15 of the Companies A 2006 relatlng to small companies. Approved by order of the board of trustees on ......... . and signed on ts behalf by: KT utledge - Tru Page 7
rt of the Inde endent Auditors to the Member8 of L•lcest•r Rlders Foundation Oplnlon We have audited the financial statements of Lelcester Riders Foundatlon ('the charitable Coffyan} and ts subsidiary (the 'group') for the year ended 30 November 2024 whk* comprise the consolidated statemenl of financial actlvfties (incorporating an Income and expenditure account), consolidated and parent charitable compary balance sheets, consolidaled cash Ilow statement arKI notes to the consolidated cash flow statement. and notes to the financial statements, induding a summary of signifant acGounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi) including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generalty Accepted Accounting Practice). In our opinion the financBI statements: give a tnje and fair view of the state of the group's and of the charitable company's affaits a8 al 30 November 2024 and the group's incoming resources and 8pplicatK•n of resources, including its income and expenditure, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in a¢cordarKe with the requirements of the Companies Act 2006. Ba818 for oplnlon We conduded our audit in accordance with Intematlonal Stsndards on Auditir¥J (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further descrlbed in the Audit(xs' responsibllllles for the audit of Ihe financial statements section of our report. We are Independent of the charitable company In accordance with the ethicAI requirements that are relevant to our audlt of the financial statements in the UK, induding the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responsibillties in acCdanCe wlth these requlrements. We balleve that the audit evidence we have obtained is SLrfficient and approprlate to provide a basis for our opinion. Mat•rlal uncertaintles relatlng to golng concern We draw 8ttentlon to Note 2 in the financial statements, which Indicates that the group incurred a net deficit of £48,377 during the year ended 30 November 2024 8nd, as of that date, the group had net current liabilitles of £957.989. As ststed in Note 2, these events or conditions. along with other matters as set forth in Note 2, indicate that a material UnrtaInty exists that may cast significant doubt on the group's abilty to continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financi81 statements. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the trustees, assessment of the group's ability to continue to adopt the going COnM basis of accounting included reviewing the group's latest position. agreements and correspondence from key lenders, and value of ts assets, all of which enabled us to assess the trustees, assertK)n that the group conlinues to have the support of key lenders arKI there is no indication that financing facilities will be withdrawn. Our responsibilities and the responsibilitie5 of the trustees with respect to going concem are described in the relevant sections of this reporL Page 8
rt of the Inde endent Audltor8 to the Membor8 of Lc8st9r Rlders Foundatlon other Information The trustees are responsible for the other Information. The other infomiation compri58s the Information included in the Annual Report, other than the fir)ancial statements and our Report of the Audito thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated In our reporL we do not express any fomi of assurance conclusion thereon. In ¢onrtIOn with our audit of the financial ststements, our responsibility is to read the other information and, in doing so, consider whether the Ottrr InfOnatiOn is materially inconsistent with the financial statements or our knowledge obtained in the course of the audiL or otheiSe appears to be materially misstated. If we identrfy such material irKonsistencies or apparent material misstatements, we are required to determine whether this gives rise to a rnaterial misstatemenl in the financial statements themselves. If. based on the work V have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit: the informatSon given In the Report of the Trustees for th8 financial year for which the financial statements are prepared is conslstent with th8 financial statements; and the Rewt of the Twstees has been prepar8d In accffdance th applicable legal requirements. Matt•r8 on whl¢h wo are roqulred to report by •xcoption In the light of the knowledge and understandlng of the group and the charitable company and Its envlronment obtained in the course of the 8udiL we have not identified material mlsstatements in the Report of the Trustees. We have nothing to report In respect of the followlThJ matters re the Companles Act 2006 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audlt have not been received from branches not vlsited by us,. or the financial statements are not in agreement th the accountlng records and returns,. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the Infom)ation arKI explanations we require for our audit,, or the trustees were not entitled to take advantsge of the small companies, exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Re5ponslbilitl•8 of trustees As explained more fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company18w) are responsible for the preparation of the financial statements and for being satisfie(J that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or errff. In preparing the financial statements, the directors are responsible for assessing the group's and charitable company's ability to continue as a going conrn. disclosing. as applicable, matters related to going COnM and using the going concern basis of accounting unless the trustees either intend to liquidate the chwitable company or to ase operations, or have rK) realistk alternative but to do so. Page 9
Re ort of the Inde endent Auditor8 to the Members of Lolcester Rldors Foundatlon Authtorfs rmponslbllttles lor the audlt of tho financlal statsments Our objectives are to obtain reasonable assurance about whether Ihe financial statements as a whole are free from materlal misstatement, whether due to fraud or em)r. and to issue a Report of the Independent Auditors that indudes our opinK)n. Reasonable assurance is a high Jevel of assurance, is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detecl a material misstatement when It exists. Misstatements can arise from fraud or errff and are considered material rf, individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users taken on the basis of these financial statsments. The capabilty to detect irregularitw is based on the auditor Mlentfying and assessing the risks of material misstatement of the financial statements, thether due to fraud or error, and then designing and perfomiing audit procedures resnSIve to those risks. including obtsining audit evidence that is sufficient and appropriate to provide a basis for our opinion. The extent to which our procedures are capable of detecting irregulartties, induding fraud is detailed below. Extent to which the audit was considered capabl• of ddectlng Irregularities. includlng fraud The capability to detect irregularities is based on the auditor Klenlifying and assessing the risks of material mi&statement of the financial statements, whether due to fraud or emy, and then designing and performing audit procedures responsive to those risks. irbduding oblaining audtt evidence that is sufficient arKI 8ppropriate to Fyovide a basls for our opinKJn. a) Identifying and assessing potentlal rfsks related to rregularities In idenllfying and assessing risks of materlal misstatement in respect of irregularities, including fraud and non-compliance with laws arKI regulatlons, the following apPrh was taken: - Underst8ndir¥J the nature of the industy and sector, control emiironment and buslness perfonnance: - Consfderation of the results of our enquiries of markqpment arKI those charged wllh govemance about their own identificatron and assessment of the risks of Irregularies,. UrxlerslarKling the ¢ompanVs policies and procedures on compliance wlth laws and regulations and management of fraud risk. induding dcKumentation of Instances of rnMplIance of laws and regulations and instances of actual, suspected or alleged fraud,. - ConsideratSon of matters dlscussed among the audit engagement team regarding how and wtrEre fraud might occur in the financial statements and any potential indicators of fraud; Understandir¥J the legal and regulatory frameworks that the entity operates in through enqulry of management and those charged wtth govemance and understandlng its industry and sector. The key laws and regulations that were conSided to have an effect on material amounts and disdosures in the financial statements included the Companies Act and tax legislat. b) Audit response to risks identified Based on this understanding, the following audlt procedures were design1 and perford to respond to the risks idenlified: - Reviewing the financial statement dIS(reS and testing lo sup)rting documentatron to assess compliance with applicable laws and regulations desixibed as having a direct effect on the financial statement. Enquiring of management, those charged with govemance and. where applicable, the entity's solicitors OnrnIng adual and potential litigation and claims". - Performing analytical priwlures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.. - Reviewing minutes of meetings of those charged with governan and, where applicable, correspondence with regulators,. - Performing audit work over the risk of management override of controls. includiro testing of journal entries and other adjustments for appropriateness and evaluating the business ralionale of Signifnt transaGtions outside the rmjrmal course of business: Communication of potenlial fraud rlsks to all engagement team members arKI remaining alert to any Indlcations of fraud or non-cOmplnCe with laws and regulatlons throughout the audlt. Page 10
ort of tho Inde end•nl Audltorn to the Members of Lelcester Rlders Foundatlon Because of the inherent limitations of an audit. there is a risk that will not detect all irregularities, induding those leading to a material misstatement in the financial statements w non<0mplian with regulation. This risk increases the more that compliance with a law or regulation is removed the events and transactions reflected in the firk3ncial ststements. as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities OCCUffing due to fraud rather than em)r, as fraud involves intentional Concealmtt, forgery. collusion, omission OT misrepresentation. A further descriptron of our responsibilities for the audit is located on the Financial Reporting CThJncil's webslte aL' www.frc.org.ukJaudltorsresponsibilities. This descn'ption forms part of our Report of the Auditors. Use of our report This report is made solety to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companffies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs reFx)rt and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's MberS as a body, for our audit work, for this rerx)rt, or for the opinions we have fornd. Peter NlcKris FCA (Senior Stslutcry Auditor) for and on behalf of Duncan & Toplis Audit Limited Statutory Auditor Park Hse 37 Clarence Street Leicester Leicestershre LE13RW Date: ........... Page11
Lel¢ester Rlders Foundation Con8olld•ted Ststement of Flnanclal Actlvltles ncor ratln an Income and Ex enditure Account for the Year Ended 30 November 2024 Year Ended Year Ended 30.11.24 30.11.23 Total Total funds funds Unrestricted Restricted fund funds INCOME AND ENDOWMENTS FROM Donations and legacies 33,522 39,754 73,276 129.352 Char•table actlvttles Residential training schemes Community projects Fieldhouse 37,268 37.268 118,103 204.681 118,103 M.681 211,423 175,799 216,941 Other trading activities Investment income 1.726,916 40,306 1.726,916 40,306 1,426,272 85.156 Total 2,123,528 77.022 2,200.550 2.244,943 EXPENDITURE ON Raislng funds 1,763,477 1,763,477 1,641,684 Charltable actlvitie8 Residentlal trainlng schemes Communlty projects Fieldhouse 10,548 158,545 237,837 12,046 171,445 301.959 134.001 350.127 304.407 12,900 64,122 Total 2.170,405 78,522 2,248,927 2,430,219 NET ANCOMEI(EXPENDITURE) Transfer between funds {46,877) (1.5) (48,377) {185.276) Net movament In funds {46.877) (1.500) (48.377) (185.276) RECONCILIATION OF FUNDS Total funds brought forward 3.463.307 90,829 3.554,136 3.739.412 TOTAL FUNDS CARRIED FORWARD 3,416.430 89,329 3,505.759 3.554,136 As pemiltted by Section 408 of the Companies Act 2006, the Statement of Financial ActivitSes of the parent company is not presented as part of these financial statements. CONTINUING OPERATIONS All income and expenditure has arisen from continuing activltles. Page 12
Lelcester Rlders Foundatlon Consolldated Balance Sheat 30 November 2024 30.11.24 Total furKIs Unrestricted Restricted fund furKIs 30.11.23 Total funds FIXED ASSETS Tangible fixed assets 13 7,204,248 7.204,248 7,206,888 CURREKfASSEf8 Stock 23,013 639,493 96,356 23,013 730,322 100,972 15.000 336,504 $4,117 Cash at bank and In hand 90,829 4,118 CREDrroRS Amounts falling due within one year 758,862 95,445 854,307 405.621 17 (1,806,180) (6.116) (1.812.296) (1.555.454) NET CURRENT LIABILrriES (1,047.318 89.329 957,989 (1.149,833) TOTAL ASSETS LESS CURREKr LIABILMES 6,156,930 89.329 6,246,259 6,057.055 CREDITORS Amourrts falling due after more than one year 18 (2,740.500) (2,740,500) (2,502.920) NEf ASSErs 3.416,430 89,329 3 505,759 3 554 136 FUNDS Unrestricted funds Restrkted funds 22 3,416,430 3.463,307 TOTAL FUNDS These financlal statements have been prepared in accordance with the provlslons applicable to charitable companies subject to the small companies regime. The fi I statements were approved by the Board of TnleeS and authorised for issue on .. and were signed on its behalf by: Routledge - rustee Page 13
Lelc•ster Rlders Foundatlon Com an BaLe Sheet 30 November 2024 30.11.24 Total funds 30.11.23 Total furKIs fund funds Noles FIXED ASSErs Investments 14 CURREKf A8SErs Debtors Cash at bank and In hand 16 482,182 6,360 90.829 6,116 573,011 330,996 23,202 488,542 96,945 558,487 354,198 CREDrroRS Amunts falling due wtthin one ye 17 (202,636) (6,116) {208,752) (268,472) NEf CURRENT ASSETS 287,405 376.735 85,726 TOTAL ASSETS LESS CURRENT LIABILITIES 287,406 89,329 376,736 85,727 CREDITORS Amounts falling due after more than one year 18 (167,710) {167.710) (24,241) NEf ASSETS 119.696 89,329 209,026 61,486 FUNDS Unrestricted funds Restricted funds 22 119.696 89,330 {29,343) 90.829 TOTAL FUNDS 209,026 61,486 These financial statements have been prepared in acciwthnce with the provisions applicable to charitable companies subject to small companies regime. The fi I statements were approved by Ihe Board of Trustees and authorised for Issue on 10.IS.................. and were slgned on Its behaff by: Routiedge - Trustee Page 14
Leicoster Rlders Foundatlon Consolklated Cash Flow Statemont for tho Year Ended 30 November 2024 Year Ended Year Ended 30.11.24 Notes 30.11.23 Cash flows from operatlng activitles Cash generated from OperanS Interest paid (49,506) 12,696 338.055 Net cash (used inyprovided by operating activities Cash flows from 5nvestlng actlvitles Purchase of tangible fixed assets Flnanco incom 299,682 (121.116) 28 {393.733) Net cash (used inyprovided by Investing a(Aivitles 121.088) 393,732) Cash kn from flnanclng actlviti08 Naw loans in year Loan and other repayments In year Net cash (used inywovided by financing activities 335,0 97.630 291,000 169,872 237.370 121.128 Chango In cash and cash equivalonts In the reporting perlod Cash and cash •qulvalents at the b•glnning of the reportlng porfod Cash and cash •qulval•nts at the ond of tho reporting perlod 54.080 27,078 100,972 46.892 Page 15
Lelcestor Rlders Foundation Notes to th• Consolidated Cash Flow Statement for the Y•ar Ended 30 November 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTMTIES Year Ered Year ended 30.11.24 30.11.23 N•t Income for the r•porting perlod (a8 per tha Statement of Flnanclal Activit1) Adjustm•nts for. FinarKe income Finan costs {48.377) (185.276) (28) 12,696 (1) 38.373 Depreciatlon charges Increase in stocks (Increaseydecrease in debtors Increasel{decrease) in (xeditiys 124,296 (8,013) (393,818) 263,378 131,119 1,250 (32,372) 384,962 Net cash {u8od In)Iprovlded by 0ratIOnS 338,055 ANALYSIS OF CASH AND CASH EQUIVALENTS 30.11.24 30.11.23 Cash in hand Notice deposts (less than 3 months) Overdrafts induded in bank loans and overdrafts falling due within one year 10,455 97.413 4,872 49.245 Total cash and cash equivalents 100,972 46,892 ANALYSIS OF CHANGES IN NEf DEBT At 1.12.23 Cash flow At 30.11.24 cash Cash at bank arnl in hand Bank overdraft 54,117 7.225) 53,751 107,868 46,892 54.080 100,972 Debts falllng due withln 1 year Debts falling due after 1 year (435.001) (1.297,239) (20,562) 70.175 {455.563) {1,227.064 (1,732,240 49.613 (1,682 627) Total (1685,348) 103,693 (1,581655) Page 16
Lelcester Rlders Foundatlon Notes to the Flnandal Statements for the Year Ended 30 November 2024 STATUTORY INFORMATION Leicester Riders Foundation is a private company, Ilmlted by guarantee, registered in England and Wales. The registered number and registered Offi address can be found in the Report of the Trustees. The members, currently only the trustees, are liable to contribute an 8mount not exceeding £10 each towards the liabilities of the charity in the event of insolvency. ACCOUNTING POLICIES Basis of proparing 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 Practi 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, arKI 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. Going Concem The group incurred a net deficit of £48.377 in the year ended 30 November 2024, however. it continues to maintain a healthy net asset balance of £3,505,759 as shown In the balance sheet on page 13. Due to the nature of its business, the group is affected by volatillty In InMe. which in turns creates challenges for short-term cash management as reflected by its net current Ilabilities of £957,989. As at 30 November 2024, the group managed its financing requirements through a mixture of bank loans amountlng to £70,458, other loans amounting to £2,390,203 including from 8 trustee. The group has hlstorically met its capital and interest repayments, and the trustees are satisfied that the group's latest financing position will enable it to contlnue meeting all obligations as they fall due. In line with this, the trustees, latest discussions with its lerKlers have ralsed no issues of concern. The trustees concluded, based on the above, that uncertainties exlst that casts some doubt on the group's abillty to continue as a going concern and that, therefore, the group may be unable to realise its assels and discharge its liabilities in the normal course of business. However, the trustees have a reasonable expectation that the group hss adequate resources to continue In operational existence for the foreseeable future and so continue to adopt the going concem basis of accounting in preparing the 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 s 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 c18ssified under headrngs that aggregate all cost related to the category. Where costs cannot be directly attributed to parttculsr headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the yearend date are noted as a commitment but not accrued as expenditure. Page 17
Lelcester Rlderg Foundatlon Notes lo the Flnancial Statements for the Year Ended 30 November 2024 Allocatlon and apportionment of costs Expenditure irKurred on support costs are allocated to activities based on management Ilm8 spent. Remaining costs are allocated equalty between charitable activities. Tanglble fixed ass8 Depreciation is provided at the followi anwal rates In order to write off each asset over ts estimated useful lrfe. Leasehold propety Plant and machinery Fixtures and fthings Mot(* vehicles Computer equipment 1% on cost 20% on reducing balare 15% on re(lucing balances 25% on cost 33% on cost Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds Can be used In accordance with the charitable obiectlves at the discretion of the trustees. RestrKled funds can only be used for partKular restricted purposes wlthin Ihe objects of the charity. Restrictions arise when speclfied by the donor or when fvnds are ralsed for particular restrlcted purposes. Further explanation of the nature and purpose of each fund is included in the not8S to the financlal statements. Hlrn purchase and l¢a8ing commitments Rentsls pald under operating leases are charged to the Slatement of Finarthl Activitie8 on a straight- line basls over the period of the lease. P•nslon costs and othor po8t-retlr•ment benef The charitable company opwates a defined contritIon pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Acthifties in the perK)d to which they relate. Donated goods Donated goods. facilities and serdices are recognised when t charity has control over the items, it is probable that economrcs benefrts will flow to the chwty and the value can be reliably measured. If it is impractical to measure fair value of goods donated for resale or rf the costs of valuation outweigh the benefft to users of the aCCnts and the charity of this inforniation, the donated goods are recognised WI they are sold. Govarnment grants Government grants are ognISed in aCrdan with the perfomiance model. Page 18
Lolcester Rid•rn Foundation Notes to the Flnanclal Stat•monts - ¢ontlnued for the Year Endod 30 Novwnbor 2024 ACCOUNTING POLICIES - continued Investment8 Investments in subsidiary undertakings we recognised at cost. Stocks are valued at lower of cost and estimated sejling price less costs to sell on a first in first out basls. Debtors Short tenn debtors are measured at transaction pri, le8s any Impairmerrt. Loans recelvable are measured inibally at fair value, net of trartsaction costs. and are measured subsequently at amortis8d cost using the effective rate of interest method, less any impainnenL Creditor8 Short term creditors are measured al transaction price. Other financial liabilities, including bank loans. are measured Inrtlally at fair value. net of transaction costs, arKI are measured subsequentty at amorlised cost using effectlve interest method. Page 19
Lelcestsr Rkler8 Foundation Notes to the Flnancial Statements - ¢ontinued for the Year Ended 30 Novemb•r 2024 DONATIONS AND LEGACIES. GROUP Year Ended Year Ended 30.11.24 30.11.23 Donations Grants 33,522 39.754 39,220 90,132 129,352 Govemment grants of £10.743 (2023: £41,532) are induded within grants which are not subject to any corKliknons. Grants receNed, included in the above. are as followE: Ye8r Ended Year Ended 30.11.24 30.11.23 Asian Sports Fund BBC Local Apprenticeship Programme LelceStershI County Council Pollce and Crlme Commissioner for Lelcestershire Mencap Mighty Creatlve The Basketball Foundatlon Streetgames ApprentiShip St Philips Centre One Team Leicester pvent Projecl Access Reach Fund Friday Night Hoops Oadby & Wigston Borough Council House of Commons People in Development HAF- LCC 1.700 500 2,200 19.745 1,667 5,900 500 13.000 19.800 2,222 1,900 6,000 9.000 11,000 1.111 4,000 474 5.000 15,646 8.521 90,132 Page 20
Lekestar Rlders Foundatk•n Notes to tho Flnancial Statèments - eontinued for the Ythqr Ended 30 November 2024 OTHER TrADING ACTIVITIES- GROUP Year Ended Year Ended 30.11.24 30.11.23 Court hire Food and beverag8S Arena sponsorship Other income Ticket agency fees Fundraising events Sponsorships 582,441 916,686 53,440 108,299 58.935 7.115 564,967 733,024 36,200 15,401 41,412 5.860 15,000 1,726,916 1.426,272 INVESTMENT INCOME - GROUP Year Ended Year Ended 30.11.24 30.11.Z3 Rents received Solar feed Income Deposit account interest 40.278 48,856 36,299 28 INCOME FROM CHARITABLE ACTIVITIES- GROUP Year Ended Year Ended 30.11.24 30.11.23 Residentlal training Communty projects Total activities Total actlvities Fleldhouse Student rent contributions Coaching and dasses Contributions from attendees Grants Court Hire Camps Junlor Natlonal League All stsr camp 204,681 204,681 216.941 33,513 33,513 67.200 37,268 9.106 202,317 3,625 51,758 53,216 37.268 540 22.825 38,870 22,355 540 22,825 38.870 37,268 118 103 204,681 360,052 604,163 Page 21
Lel¢ester Rldeys Foundation Notes to the Flnanclal Statsmants - continuad for the Year Ended 30 November 2024 INCOME FROM CHARrrABLE ACTivrfiES- GROUP- continu Grants receFved, included in the above, are as follows: Year Ended Year Ended 30.11.24 30.11.23 Ingeus LCFC in Community Erasmus Turing NCS 10,148 105,279 86,890 37,268 RAISING FUNDS- GROUP Ralslng donations and legacl•s Year ErKled Year Ended 30.11.24 30.11.23 Fundraising events 9,515 2,957 515 Other tradlng actlvities Purchases Wages Social securlty Pensions Other operating costs Depreciation Leasehold propety Flant and machlnery Fixtures and fttings Computsr equipment Interest and finance charges 662.766 308.337 37,731 8,371 488,041 580,871 321,059 36,459 7,853 487,825 73.287 7,472 29,705 13,292 131,518 73,155 8.168 34,242 15,554 1,763,477 1,841,684 Page 22
Lelcester Rldors Foundatlon 08 to the Flnanclal Statements - contlnuod f r the Year Ended 30 Novemb•r 2024 CHARITABLE ACTIVMES COSTS- GROUP Grant funding of activities Support costs (see note 9) Direct Costs Totals Residential trainlng schemes Community tyojects Fieldhouse 3.000 35,136 235,240 9,046 136,309 66.719 12,046 171.445 301.959 273,376 212,074 485,450 SUPPORT COSTS- GROUP Support team Finance Govemance costs Overheads Totals Resldentlal training schemes Communty projects Fieldhouse 2,116 6.348 4,232 2,373 7,121 4,747 4,557 13,671 9,113 109,189 48,627 136.309 66.719 Page 23
Lelcester Rld•rs Foundatlon Notes to Ihe Flnanclal Statements - contlnued for the Year Ended 30 November 2024 SUPPORT COSTS- GROUP- ¢ontlnu tlvlty Support team Flnance costs Overheads Govemance costs Basls of allocation According to relevant proportion of tlme spent According lo relevant proportion of time spent According to relevant proportion of time spent According to relevant proportion of time spent 10. NET INCOMEI(EXPENDITURE). GROUP Net Incomel{expenditure) is stated after chargingl(crediting): Ye* Ended Year Ended 30.11.24 30.1123 Audltors, remuneratlon 11. TRUSTEES. REMUNERATION AND BENEFITS- GROUP There were no trustees, remuneration or other benefits for the pericxl ended 30 November 2024 rK)r for the year ended 30 November 2023. Tto•s. •xp•nse8 There were no trustees, expenses pald for the perfod ended 30 November 2024 nor for the year ended 30 November 2023. 12. STAFF COSTS- GROUP Year Ended Year Ended 30.11.24 30.11.23 Wages and salaries Social securlty costs Other pension costs 554,687 52.848 698,857 56,227 13.374 Page 24
Leicester Rlders Foundation Note8 to the Financlal Statements - contlnued for the Year Ended 3 ovember 2024 12. STAFF COSTS- GROUP- continued The average monthly number of employees during the period Was as follows: Year Ended Year Ended 30.11.24 30.11.23 16 18 13 12 43 Other trading activitles Residential training scheme Support team 33 The number of employees whose employee benefrts (excluding employer pension costs) exceeded £60.0 was: Year Ended Year Ended 30.11.24 30.11.23 £60,001- £70.000 The expense recognlsed In the statement of financial actfvitles for defined penslon contrlbutlon plans is £3.298. The expense ts allocated belween activities and funds on the basis of work perfMed by the empknyees &ro8s the categories. Remun8r8tion paid to key management personnel ¢Jurlng the year was £13,322 (2023 - £36,388). Page 25
Lelcestsr Rlders Foundatlon Not88 to the Flnanclal Statem•nts - Contlnuad for Ihe Year Ended 30 Nov•mber 2024 q& TANGIBLE FIXED ASSEfs. GROUP Flxtures and fittIs Leasehold propety Plant arKI machinery COST OR VALUATION At 1 December 2023 Additions Dlsposals 7,331,905 29,688 59.679 20.835 639,372 70,593 At 30 November 2024 7,361.593 80,514 709,965 DEPRECIATION At 1 December 2023 Charge for year Eliminaled on disposal 432,356 73,287 15,557 7,472 421,194 29,705 At 30 November 2024 505,643 23,029 450,899 NET BOOK VALUE At 30 November 2024 6.855,950 57.485 259,066 At 30 November 2023 8,899.549 44,122 218,178 Motor vehicles Computer equipment Totals COST OR VALUATION At 1 December 2023 Additions Disposals 49,261 158.199 8,238.417 121,116 At 30 November 2024 49.261 158,199 8,359 533 DEPRECIATION At 1 December 2023 Charge for year Eliminated on disposal 49,261 113.161 13.292 1,031.529 123,756 At 30 November 2024 126,453 1.155.285 NET BOOK VALUE At 30 November 2024 31,746 7,204,248 At 30 November 2023 45,038 The Leasehold property has been pledged as security. Page 26
Leicester Riders Foundatlon Notes to the Financial Statements - continu for the Year Ended 30 November 2024 1 FIXED ASSET INVESTMENTS- COMPANY Shares in group undertakings MARKET VALUE At 1 December 2023 and 30 November 2024 NET BOOKVALUE At 30 November 2024 At 30 November 2023 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.. L•l¢estor Communlty Sports Arena Limltod Registered office.. 12 Memory Lane, Leicester, LE13UL Nature of business.. Operation of a sports arena Class of share: Ordinary holding 100 30.11.24 30.11.23 Assets Liabilities Capital and reserves Turnover and other operating income Expenditure ProfiV{loss) 7,835,186 4,538,448 3,296,738 1,838,576 1,784,518 54,086 7,376,657 3,884,005 3.492,652 1,569,067 1,665.499 96.432 15. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR- COMPANY 30.11.24 30.11.24 Trade (lebtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 21,816 367,455 179,142 4,598 45,507 118,347 166,786 357 573.011 330,996 15. DEBTORS: AMOUNTS FALLING DUE MTHIN ONE YEAR- GROUP 30.11.24 30.11.23 Trade debtors Other debtors Prepayments and accrued income 135,779 568,142 26,401 53.746 274,403 8,355 Page 27
Lelca8t•r Rldern Foundation Notes to th• Flnandal Statanonts . ¢ontlnued for the Year Ended 30 November 2024 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- COMPANY 30.11.24 30.11.23 Bank loans and overdrafts (see note 18) other loans {see note 18) Trade creditors Social security and other tsxes 10,277 38,385 65.645 46.753 1.224 12,250 34,219 17,248 60,200 74,073 63,439 1.096 8.250 44,166 Rent deposlts Accruals and defeffad income 208,752 268,472 Accruals and delerred Income Includes deferred Incorr of £17,220 (2023- £32,387). Defetred income indudes grants recelved in advance of achlevlng perfom)ance related conditions of £6.116 {2023 - £15.469). The remainiro deferred income consists of income recelved for deliverlng servlces that take place following the year end. 16. CREDrroRS: AMOUNTS FALLING DUE MTHIN ONE YEAR- GROUP 30.11.24 30.11.23 Bank loans and overdrafts (see note 18) Other loans (see nole 18) Trade creditors Social security and other taxes VAT Other creditors Rent deposits Accruals and deferred income 40.242 475,251 579,963 163,045 204,561 269,305 12.250 67,679 181,430 260,796 530,138 191,381 101,060 218.141 8.250 64,258 1812,296 1555 454 Accruals an(J deferred Income Indude deferred income of £17,220 (2023 - £32,367). Deferred Income Includes grants received In advance of achieving perf0mnCe related condltlons of £6,116 (2023 - £15,469). The remaining deferred income conslsts of Income received for dellvering services thal take place following the year end. 17. CREDrroRS: AMouKfs FALLING DUE AFfER MORE THAN ONE YEAR - COMPANY 30.11.24 30.11.23 Bank loans (see note 18) Other lo£ns (see note 18) 13,998 24,241 167710 Page 28
Lelc•8tsr Rlders Foundation Notes to tho Financlal Statemants - ¢ontinued for the Year Endod 30 November 2024 17. CREDrroRS: AMouKfs FALLING DUE AFfER MORE THAN ONE YEAR- GROUP 30.11.24 30.11.23 Bank loans (see note 18) Other loans {see note 18) Other creditors 30,216 1,196,848 1,513,436 107,662 1,189,577 1,205 681 2,740,51X) 2,502.920 Amounts falling due In more than five years". Repayable by Instalments Olher loans 457,377 603.817 Included in other creditors are loans totalllng £7,175,481 (2023.. £1,175,481) 1¢h are Interest free and repayable wlth a minimum of 53 weeks, notice. LOANS- COMPANY An analysls of the maturity of roar is glven below: 30.11.24 30.11.23 Amounts falllng due within one year on demand: Bank loans and overdrafts Other loans 10,277 38,385 17,248 60.200 48,662 77,248 Amourrts falling between one and Iwo years: Bank loans - 1-2 years Otrr loans - Repayable in 1-2 years 10,536 10,277 48,015 10.277 Amounts falllng due between two and five years: Bank loans - 2-5 years Other loans - Repayable In 2-5 years 3,462 116232 13,964 Page 29
Lelc•st•r Rlder8 Foundatlon N tes to the Flnanclal Stat•ments - contlnugd r the Yr Ended 30 November 2024 18. LOAN8- GROUP An analysis of the maiurity of loans is glven below: 30.11.24 30.11.23 Amounts falling due within one year on demand.. Bank overdrafts Bank loans Other loans 7.225 174,205 260,796 40.242 475,251 515493 442,226 Amounts falling between one and two yews: Bank loans - 1-2 years Other loans- Repayabje in 1-2 years 26,754 183,919 70,677 146,440 210.673 217,117 Amounts falling due between two and fwe years: Bank loans- 2-5 yews Other loans - Repayable in 2-5 years 3.462 555.552 36,985 439,320 476,305 Amounts falllng due in more than 5 years: Other loans 457,377 603.817 457,377 603.187 19. SECURED DEBTS- GROUP The following secured debts are included within creditors." 30.11.24 30.11.23 Other loans 37.955 68,288 68.288 The Other loans are secured by a fLxed charge over the leasehold propety and a floating charge over all other assets. 20. OTHER FINANCIAL COMMITMENTS- GROUP company has a financial commilmert not included In the balance sheet, of £4,700.000 (2023: £4.740.000). This represents the ground rent payable, at £40,000 per year, under a lease whlch expire8 on 3 December 2140. Page 30
Lelcestsr Rldars Foundatlon to the Flnanclal stateme - contlnued for Ihe Year End•d 30 November 2024 21. MOVEMENT IN FUNDS. COMPANY Prior year adjustment Net movement In funds At 30.11.24 At 1.12.23 Unrostrlctod fund8 General fvnd (29,343) 149,040 119,696 Restrlcted fund8 BBC Children in Need National Citizen Service Carry a Basketball not a Blade Tackling Inequalities National Lottery SpcKt England Big Issue Mighty Creative lencap LCC Erasmus Slreetgames Ingeus 1,000 27.488 1,500 3,400 1.700 2,500 5,000 13.000 1.975 7,758 1,500 13,860 1,000 27.488 1.500 1.700 5,000 13.000 1,975 7.758 (1,500) 13,860 TOTAL FUNDS 147,540 209,026 Net movement in funds, Included in the above are as follows: Incoming resourGgs Resources expended Movement in funds Unrestrlctod funds General fund 653,698 {504.658) 149,040 Restrlcted funds AppntICeship Leicestershire Police - Hoops HAF- LCC St Philips Centre One Team Leicester Prevent Project Access Reach Fund Friday Night Hoops National Clzen Service Erasmus 1,900 2,222 8,521 6,000 9.000 11,000 1,111 37,268 (1,900) (2.222) (8,521) (6,000) (9,000) {11,000) {1,111) (37,268) 1,500) 1,500 1.500 TOTAL FUNDS 730,720 147,540 Page 31
elcest r Rld•r8 Found lon Notes to he Flnan¢lal Stat•m•nts - ¢ontlnued for th Y•ar End 30 Novemb r 2024 21. MOVEMENT IN FUNDS- COMPANY- contlnuod Comparatives for movemont in funds Prior year adjustment Net movement In funds At 30.1123 At 1.12.22 Unre8trlct•d funds Genwal fund 120,975 {150,318) (29,343) Rostricted funds BBC Children in Need National Citizen Service Coach Core European Social Fund Carry a Basketball not a Blade Tackling Inequalities Natlonal Lottery 1,000 15,339 (6,376) (11,330) 1,500 3,400 11149 6,375 11.330 27.488 1,500 P. li Sport England Blg Issue Mlghty Creatlve Mencap LCC Erasmus Streetgames Ingeus 1,700 2,500 5,000 13,000 1,975 7,758 1,500 13,860 10,148 1,700 2,500 5,000 13,000 1.975 7,758 1,500 13,860 29,854 80,975 TOTAL FUNDS 61,486 Page 32
L•lce8ter Rlders Foundatlon Notes to th• Flnanclal Statements - contlnued for tho Year Ended 30 Novomber 2024 Comparative net movement in funds. included in Ihe above are as follows". Incomlng resources Resources Movement expended in funds UnrOBtrlctod funds General fund 500,246 {592,664) {92,418) R08trleted funds Erasmus Streetgames BBC Chlldren In Need Nalfonal Cltlzen Service Coach Core European Social FurKI Tackling Inaqualitles Fund Hardship Fund Mighty creattve Apprenticeship 113,287 19.800 500 (111.787) (5,940) 1,500 13,860 500 (14,661) (6,375) (11.330) 1,700 (14.661) (6.375) (11,330) 1.700 (3,000) (500) {2,200) (4.425) (13,000) {87.987} (4,000) {1,667) (474) (19,745) (5,000) {9,388) 2,200 5,900 13,000 87,987 4,000 1,667 474 19,745 5,000 15,646 10,148 1,475 British Basketball League Turing Florida Oadby & Wigston BOrgh Council Leicestershlre Pollce - Hoops House of Commons Lekester Cty in the Communlty People in DevelopffEnt LCC Iw6u8 6,258 301479 3.075 TOTAL FUNDS 89,343) Page 33
Lolcester Ridws Foundatlon Notes to the Flnanclal Statements . Contlnued for the Year Ended 30 Novomber 2024 21. MOVEMENT IN FUNDS- GROUP Net movement in fUrS At 30.11.24 At 1.12.23 Unrestrlcted funds General fund 3,463,307 (46,877) 3,416,430 Restrlcted funds BBC Children in Need Natlonal Citizen Service Carry a Basketball not a Blade Tackli Inequaliti88 Nalional Lottery Sport England Blg Issue Mighty Creatlve Mencap LCC Erasmus Turing Florlda Streetgames Ingeus 1,000 27,488 1,000 27,488 3,400 1,71)0 2,500 5.000 13.000 1,975 7,758 1,500 3,400 1,700 2.500 5,000 13,000 1.975 7,758 (1,500) {1,500) 13,860 10.148 13,860 10,148 89,329 TOTAL FUNDS 3,554.136 48.377 3.505,759 Page 34
hLd¢o8t¢r Rld r8 Foundatlon Notes to the Flnan¢ial Statemonts - ¢ontlnued for th• Year Ended 30 Nov•mb•r 2024 21. MOVEMENT IN FUNDS- GROUP- contlnued Net movement in funds, included in above are as follows: Incomlng Resources Movement resources expended In fuThJs Unrestrlcted funds General fund 2.123.528 (2,170,405) (46.877) Restricted funds Apprenti LCC pd (1,900) (25) (2,222) {8,496) (6,OlX)) (9,¢)00) (11,000) {1,111) (37.268) (1.500) 25 2.222 8,496 6.000 9,000 11.000 1,111 37,268 St Philips One Team Access FrKlay National Citizen Services Turiw Florida {1.500) 77,022 78.522 1.500 TOTAL FUNDS Page 35
Lelcester Rldo Foundatlon Not to the Flnanclal Statements - ¢ontlnued for the Yèar Ended 30 Novembor 2024 21. MOVEMENT IN FUNDS- GROUP- contlnued Comparativos for movemont In funds Net movement In fvnds At 1.12.22 30.11.23 Unrestrlctod funds General fund 3,651,658 (188,351) 3.463.307 Restrfct•d funds BBC Children in Need National Citizen Service Coach Core European Social Fund Carry a Basketball not a Blade Taokling Inequalities National Lottery Sport England Big Issue Mighty Creative Mencap LCC Erasmus Streetgames Ingeus 500 42,149 6,375 11.330 1.000 27.488 (14.661 } {6,375) {11,330) 1,500 1,700 1.700 2,500 5,000 13,000 500 1.500 1,500 1,700 1,700 2.500 5,000 13.0(X) 1.975 7,758 1,500 13.860 10,148 1.475 6,258 1.500 13.860 10,148 TOTAL FUNDS Page
Lelcest•r Rlders Foundallon Notes to the Flnancial Statements . contlnued for the Year Ended 30 Novembor 2024 21. MOVEMENT IN FUNDS- GROUP - continued Comparative net movement in funds, included in the above are as follows." Incoming resources Resources expended Movement in furKIs unrtrICted fund8 General fund 1,940,388 (2,128,739) (188.351) Re8trfcted fund8 Erasmus Streetgames BBC Children in Need National Citizen Service Coach Core European Sooial Fund Tacking Inequalities Fund Hardship Fund 2022123 Mlghty Creative Apprentlceship Meilcap British Basketball League Turing Florida Oadby & Wigston Borough Councll Leicestershire Police House of Commons Leicester City in the Community PpIe in Development LCC Ingeus 113,288 19,800 500 (111.787) (5.940) 1,500 13,860 500 (14.661) (6.375) (11.330) (14,661) (6,375) (11,330) 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 {3,000) (500) (2.200) (4,425) (13.000) (87,988) (4,000) (1.667) (474) (19,745} (5,000) (9,388) 1,475 6,258 10,148 304,555 301,480 3.075 TOTAL FUNDS 2,430,219 2,244,943 185 276) Page 37
L•icest¢r Rlders Foundation Notes to th• Financlal Stat•ments - contlnued for the Year Ended 30 November 2024 21. MOVEMENT IN FUNDS Dota118 of Restrlcted funds Stro•t games Street Garnes are a national charty that secures fvnding to promote physical activty amongst disadvantaged communities. It used the Foundation to address delivery commitments they made in Leicester. Tackling In•qualitles Fund This is a fund particularfy basically targeting mirK)rity groups, in this case lo FYovi(le a socia Se&%n where South Asian women meet together and play some baskelball unVered and feel safe to do so. Apprentlceship Funding provided by a training partner to take on full-time apprenti to gain a qualification as a Community Activator Coach ApprentKe L2. Turlng Florida Turi is replacement for Erasmus programme funding after UK left European Unlon. It allows yOuJ athletes to go abroad and play swt wlth other youngsters and share cultures and experfences. Oadby & Wlg8ton Borough Councll FouThlatlon staff provide activlties in basketball for y¢)ung people Identiried ty the Dislrlct Councll on weekly basis, as part of the Foundation's Positive Futures wogramme. Ld¢estershlro Pollce Police Identlfied a number of challenged groups of youth for the Foundatlon to provlde diverslonary activitles using basketball as the main activity but with other leaming opportunlties induding interactlons with players. House of Commons Funded trip for young people Involved in Foundation's progrdmmes to visit the Houses of Parllament Peopl• in development This project provides posrtive activities and sporting opportunities USI baskelball to promote health, wellbeing and education opportunities and physical activty, as wdl as community engagement and cohesion. Erasmus European Union funded programme to allow young athletes to experience other cultures. BBC Chlldren in Need A project to help disabled children and young people in Leicester to have improved health and well- being. National CStlz•n Servlce A Governmer•t scheme targeted at students to undertake Gommunity engarnent activities to twlld understanding of their responsibilities as citizens. Coach Coro Apprenticeship scheme with councils and Leicestershire & Rutland Sport. European Social Fund A pro to facilitate upwaril soc1 mobilty for disadvantaged young people from deKYwed areas of Leicester through supporting them to get and retain meaningful employment. Page 38
Le1cter Rlders F undatlon Notes to the Flnanclal Statem•nts kn continued f rtheye r Ended 30 Nov ber 2024 Ighty Creatlve This project was ftjnded by national govemment to aid in the recovery of specified communftles from Covid. It provided fundlng to speclffc crtles via a London creative agency to engage young people In sport and culture activltles, including rewar(Ilng them for reengagement and the most creatrve inftiatives. The Momlngslde Aren8 and the Foundalion was a key centre for this project in Lelcester. Moncap MerKap is a charlty supportlng those wlth a leaming disabli ty. The Foundatlon has set up a number of sesslons specSfically for those young people wfiich have proved Immensely popular wlth the young people and their parents. The sessions are golng to be expanded in temis of frequency and scope. Unlted Leicester UL is a partnershlp wlth Leicester City In the Communlty, Leicester Tigers Foundation and the communty arm of Leicestershire County Cricket. We have secured a number of small grants from the Premier League Foundatlon, the NHS arKI from Everards charlty to undertake actlvltles with young people. LCC This contract 18 to provide holiday activty camps alongside food wovi81on for the most disadvantaged young people who qualfy for free school meals. A simllar contract has recently been won for the County Council. Hardship Fund Our Foundation Is 8ccessed by some of the most disadvantaged communlties in Lel¢ester and Leicestershlre. Some of the young people can afford only a small or no contributlon to running costs and may not have access to suitable footwear. We have set up a number of funding inltlatives to provide services lo these young people at no cost and to provlde donated materials, Including playing boots. One Team Lelcoster The alm of our One Team Leicester (OTL) project Is to engage vulnerable and at-rlsk young males aged 16-25. in challenging conversation directly focusing on extremlsm and radlcalisation th support from Leicester Cty Council and the Prevent project. Access Reach Fund The FndatIOn was able to secure a grant from Access Reach via their partner the Big Issue. which helped with the business planning process induding assessing return on capital invested. Frfday Night Hoops This project is a local community Interventlon to provide basketball as a diversionary activity. British Basketball Leag• The league secured funding vl8 the Basketball Foundation to understand and Improve the governance of aub Foundations. Page 39
L•lter Rlders Foundatlon Notes to the Flnanclal Statements - continued for the Year Ended 30 November 2024 RELATED PARTY DISCLOSURES The charftable company has taken advantsge of exemptlon, 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 transactrons with wholly owned subsldlaries within the group. During the perlod, the charty made a loan of £12,524 to Lelcester Basketball Limited, a company controlled by two of the trustees. The total balance outstanding Is £178.765 (2023: £166.241). 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 (2023: £1,175,481). The loan Is interest free and repayable with a minimum of 53 weeks, notice. Page 40
L•lcester Rldern Foundatlon Consolldated Dotailed Stat•ment of Flnancial Activltles for the Year Ended 30 November 2 Year Ended 30.1124 Year Ended 30.11.23 INCOME AND ENDOWhlENTS Donatlons and18gacles Donations Grants 33,522 39,220 90,132 73,276 129,352 Other trading actfvities Court hire Fo(xl and beverages Arena sponsorship Other income Tickel agency fees Fundra•sing events 582,441 916,686 53.440 108,299 58,935 7,115 564,967 733,024 36,200 29,809 41,412 5,860 1,726.916 1,426,272 Investment Income Rents received Solar leed Income Deposit account Interest 40,278 73,278 36,299 28 40,306 85,156 Charftable actlvlties Coaching and classes Student Trt contributions ContrilxJtK)ns from attendees Grants Court Hire Camps Junior National League All Star Camp 33,513 204.681 67,200 282,599 9.106 202,317 3,625 28,519 53.216 23,239 37,268 540 22,825 38,870 360,052 604,163 Total Incomlng resourc•8 2,200,550 2,244,943 P8ge 41
Lelcester Rlders Foundatlon Consolldated Detailed Statement of Flnanclal Activltles for the Year Ended 30 Novembor 2024 Year Ended 30.11.24 Year Ended 30.11.23 EXPENDITURE Ral8lng donatknns and legacles Fundralsing events 9.515 2.957 9.515 Purchases Wages Soclal security Penslons Other operating costs Depreclation Leasehold property Plant and machinery Fixtures and fittings Motor vehicles Computer equipment Loss on dlsposal of fixiures 8nd fittings Interest and finance charges Other trading actlvhle8 662,766 308,337 37,731 8,371 488,041 750,691 321,059 36.459 7853 487,825 73,287 7,472 29,705 73.155 8,168 34.242 13,292 15,554 131.518 1,763,477 1.641.684 Charftabl• activfths Wages Social 8ecurity Pensions Communlty basketball projects Field Hou88 expenses Coachlng purchases Erasmus Turing NCS Rates and utilities Repairs 8nd maintenance Food purchases 101,584 4.419 148,512 5,321 1,178 73,931 19,547 134 49,631 79,831 2,512 46,721 27,650 34,136 14,815 3.000 2,156 48,276 20,154 43,870 Support costs Support t•am Wages Soclal securlty Pensions Sundrfes 273.376 511,798 144,766 10.698 2.332 953 229,286 14,447 2,343 953 157,796 249.029 Page 42
Lolc•8ter Riders Foundation Consolldated Detalled Statemont of Flnanclal Actlvities f r lh• Y•ar Ended 30 Novembor 2024 Year Ended 30.11.24 Year ErKJ 30.11.23 Flnanc• c08ts Bank Charges HMRC Interest Bank loan interest Loan 821 4,500 6,014 1,359 1.005 379 12,694 Ovorheads Rent Rates and water Insurance Telephone Postage and stationery Sundries Motor expense8 TravellirKJ Staff training Unlfomis and workwear (28,610) 2,g90 1,450 4.897 9,167 1,422 4,904 1,832 74 4,290 11,848 2,687 14,241 Governan¢• ¢osts Auditors, remuneration Professiork21 fees 33,319 7,000 20,341 6,200 16,81)0 27,341 Total resources expended Nat Incomel{•xpenses) 23,000 2 248,927 2.430,219 48,377 185,276) Page 43