DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
Charity Registration Number: 1165303
Gloucester Rugby Foundation Report and unaudited financial statements For the year ending 30 June 2022
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Legal and administrative information**
|Trustees:|Ian Edward William Renouf-Watkins|
|---|---|
||Heyma Rita Holmes|
||Richard Weller|
||Matthew Mulcahy|
|Charity Number:|1165303|
|Charitable Incorporated Organisation Number:|CE005261|
|Office:|Kingsholm Stadium|
||Kingsholm Road|
||Gloucester|
||GL1 3AX|
|Accountants:|Hazlewoods LLP
Chartered Accountants|
||Staverton Court|
||Staverton|
||Cheltenham|
||GL51 0UX|
|Bankers:|HSBC Bank plc|
||The Cross|
||Gloucester|
||GL1 2AP|
1
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Contents**
||Page|
|---|---|
|Trustees Reports|3-6|
|Independent Examiners Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to Financial Statements|10-17|
2
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Trustees Report for the year ended 30 June 2022**
The trustees present their report together with the financial statements for the year to 30 June 2022.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
## **Structure, governance and management**
Gloucester Rugby Foundation is a Charitable Incorporated Organisation (CIO), incorporated on 25 January 2016. The company was established under a Memorandum of Association and is governed under its Articles of Association, copies of which are available for inspection at the company’s office or may be obtained by writing to the secretary.
The trustees who served during the year and up to the date of this report are set out on page 5.
The goal of Gloucester Rugby Foundation is to Engage, Educate and Inspire the local community to bring about positive social impact and new opportunities for all through sport.
The mission of Gloucester Rugby Foundation is to use the power and inspiration of rugby, along with the values of Gloucester Rugby, to make a difference by:
- delivering innovative programmes for people of all ages;
- developing partnerships that bring about success based on the needs of local people;
- providing new opportunities through sport for disadvantaged groups; and
- championing equality and diversity within rugby.
The Gloucester Rugby Foundation seeks to make its Board of Trustees as diverse as possible in terms of geographical knowledge, background, experience and capabilities. In this way, the requirements of the Gloucester Rugby Foundation and the community are best served. Suitable candidates are considered by the existing board of trustees.
The board of trustees has the power to appoint new trustees after due consideration by the board. Potential Trustees are recommended to the board by existing Trustees and Patrons. New trustees have normally shown particular interest in Gloucester Rugby Foundation and therefore have a clear concept of what the Charity is, what it aims to do and broadly how it goes about doing it.
New trustees spend time with the staff and Chairman to gain an in-depth knowledge of the governance and administration of the Foundations activities. The Foundation provides a dedicated ‘Trustee pack’ for new Trustees to provide a structured and more formal approach to induction.
## **Organisational structure**
The governance of the Gloucester Rugby Foundation rests with the board of trustees. This board has a membership with no defined maximum number. The trustees meet as necessary. Meetings include input from the Head of Foundation who has no voting rights and any others who can make a contribution.
3
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Trustees Report (continued) for the year ended 30 June 2022**
The Head of Foundation is responsible for managing the operation of the Gloucester Rugby Foundation on behalf of the Trustees and reports directly to the Chairman of that Board. All other staff report to the members of the Trustee board, enabled by the Head of Foundation. The Head of Foundation is responsible for the day to day organisation of the projects, programmes, initiatives, and current applications to various funds. The Foundation Team handle all matters relating to liaison with many communities in the immediate and extended counties making them aware of the aims and objectives of The Gloucester Rugby Foundation.
## **Trustees**
The following Trustees who have held office during the year are:
Ian Edward William Renouf-Watkins Heyma Rita Holmes Richard Smith (resigned 28 February 2022) Richard Weller Matthew Mulcahy (appointed 28 February 2022)
None of the Trustees have any beneficial interest in the company.
## **Risk assessment**
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The trustees conduct, on an annual basis, their own review of the major risks to which the charity is exposed and put into place systems to mitigate those risks identified. The trustees entrust the financial management and reporting of the Gloucester Rugby Foundation to Gloucester Rugby Limited.
External risks to funding have led to the development of a strategic plan which will allow for diversification of funding and cooperation with other charities, voluntary bodies and statutory authorities so long as the income and property of the charity shall be applied solely towards the promotion of the objects. Internal risks are minimised by the implementation of procedures for authorization of all transactions and projects to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they meet the needs of the charity.
## **Objectives and activities**
The objective of the Gloucester Rugby Foundation is to promote the education, motivation and inspiration of people through the power of sport, in particular the advancement of education, the protection of good health, both mental and physical and the relief of poverty distress and disability or sickness and other exclusively charitable purposes which are in the opinion of the Trustees beneficial to our communities.
The aims of our Foundation are:
- To help build a more active, inclusive and healthy community
- To improve educational standards within our community
- To help create a safer and more cohesive community
Our commitment to our community is through long-term projects that contain a focused purpose and outcome. Our community benefit greatly from the activities, and once the outcome has been achieved, the engagement vehicle of rugby allows us to further our aims of developing our brand and reputation while our Partners and Sponsors benefit from their investment.
4
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Trustees Report (continued) for the year ended 30 June 2022**
## **Achievements and performance**
Gloucester Rugby Foundation is the official charity of Premiership Rugby side, Gloucester Rugby.
Established in 2016, the Foundation has grown to become one of the leading charitable organisations in Gloucestershire, using sport as a vehicle to achieve positive social change. Every day, the Foundation’s team of coaches and educators work with people of all ages, from introducing children in primary schools to rugby union, right through to using the club’s proud heritage to tackle isolation in older people. Our strategy ‘Your Club, Your Community’ sets out a clear ambition to become a leading sports Foundation, recognised for its approach to partnership working and achieving community impact.
The three main pillars the work of Gloucester Rugby Foundation sit under are:
## _**Participation**_
To ensure every person in Gloucestershire has an opportunity to play rugby in their community, regardless of age or ability.
## _**Education**_
To boost education attainment, employment outcomes and improve life chances through bespoke sport based programmes delivered within schools and at Kingsholm Stadium.
## _**Health and wellbeing**_
To offer accessible opportunities that inspire people of all ages to lead healthier and more active lives.
The 2021/22 financial year has proved to be challenging, with the charity accumulating a small surplus for the year of £6,218 (2021 – deficit of £4,599).
The Gloucester Rugby Foundation saw a growth in delivery this year, due to the increase in need for services supporting those most vulnerable in the community. We are grateful for the support of local organisations who have supported our work, including funders who have committed to supporting more long-term projects.
Key highlights during the 2021/2022 period include:
- Increased number of young people graduating from our HITZ traineeship, with 2 students being nominated for national awards, including a visit to the Houses of Parliament at the Parliamentary Awards.
- Several funding partners including Henry Smith charity and the National Heritage Lottery Fund, committing to funding multi-year projects to ensure sustainability of service to our local community.
- Working with local organisations to develop joint projects such as our Men’s Group and our Reminiscence group.
- Delivering at capacity in local primary and secondary schools to support not only with physical activity, but also via educational programmes that encourage ‘Five ways to Wellbeing’ and our Engage’ programme which focuses on resilience.
- Increased delivery for veterans to help build communities.
- Additional walking rugby sessions developed to combat loneliness and isolation, and increase physical activity.
## **Reserves policy**
It is the objective of the charity to increase unrestricted funds to the level required to provide sufficient funds to cover administration costs for a period of three months.
## **Financial review**
The charity’s total income for the year was £293,741 (2021 - £182,971), comprising donations of £20,446 (2021 - £6,432), charitable activities of £136,132 (2021 - £90,047) and other trading activities of £137,163 (2021 - £86,492).
– The charity has accumulated a surplus of £6,218 during the year (2021 deficit of £4,599).
5
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Trustees Report (continued) for the year ended 30 June 2022**
## **Plans for the future**
The charity plans to continue the activities as outlined above in the forthcoming years, subject to satisfactory funding and selffunding arrangements.
## **Going concern**
The trustees consider that the charity has sufficient forecast income and available resources to cover the ongoing activities of the charity for the foreseeable future
## **Acknowledgements**
It is not practical to fully acknowledge all the support received by the Foundation, but the Foundation could not carry out its activities without the enormous unstinting effort from the professional players at Gloucester Rugby who continue to give voluntary input into the success of the Gloucester Rugby Foundation, and financial support from Gloucester Rugby Limited.
27/4/2023
Approved by the board of Trustees on ……………….. and signed on its behalf by
…………………………
M Mulcahy
6
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Independent examiners report to the trustees of Gloucester Rugby Foundation**
I report on the accounts of the Gloucester Rugby Foundation for the year ended 30 June 2022 which comprise the statement of financial activities, the balance sheet and the related notes,
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiners statement**
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Chartered Certified Accountants.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R Hancock On behalf of Hazlewoods LLP, Chartered Accountants 27/04/2023 Date: ……………..
Staverton Court
Staverton Cheltenham GL51 0UX
7
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Statement of Financial Activities including income and expenditure account for the year ended 30 June 2022**
|**Income from:**
**Notes**
Charitable activities
2
Donations and legacies
3
Other trading activities
4
**Total Income**
**Expenditure on**
**Charitable Activities**
5
**Net movement in funds**
Fund balances at 1 July 2021
**Fund balances at 30 June**
**2022**
11|**2022**
**Unrestricted**
**£**
5,747
15,426
9,989
**31,162**
**60,809**
**(29,647)**
30,276
**629**|**2022**
**Restricted**
**£**
130,385
5,020
127,174
**262,579**
**226,714**
**35,865**
37,804
**73,669**|**2022**
**Total**
**£**
136,132
20,446
137,163
**293,741**
**287,523**
**6,218**
68,080
**74,298**|**2021**
**Total**
**£**
90,047
6,432
86,492|
|---|---|---|---|---|
|||||**182,971**|
|||||**187,570**|
|||||**(4,599)**
72,679|
|||||**68,080**|
Income is derived wholly from continuing activities.
The company has no recognised gains or losses other than those stated in the Statement of financial activities above.
8
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Balance Sheet as at 30 June 2022**
|**Notes**
**Current assets**
Cash at bank and in hand
Trade debtors
**Creditors: Amounts falling due within one year**
**10**
**Net assets**
**Represented by**
Restricted Funds
11
Unrestricted Funds
11
27/4/2023|**2022**
**£**
115,276
23,195
138,471
(64,173)
**74,298**
73,669
629
**74,298**|**2021**
**£**
68,087
30,258|
|---|---|---|
|||98,345
(30,265)|
|||**68,080**|
|||37,804
30,276|
|||**68,080**|
||||
The financial statements were approved by the board of trustees on ……………….. And were signed on its behalf by
M Mulcahy Company Registration number CE005261
9
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statements for year ended 30 June 2022**
## 1 **Accounting Policies**
## **Basis of preparing the financial statements**
The charity is reliant on the continued financial support of Gloucester Rugby Limited. This support is not intended to be withdrawn in the foreseeable future. On the basis, the trustees consider it appropriate to prepare the financial statements on the going concern basis.
## **Accounting Convention**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on the going concern basis.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the company.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **Volunteers and donated services and facilities**
The value of services provided by volunteers is not incorporated into these financial statements.
Where services and facilities that would normally be purchased from a supplier are provided to the charity as a donation this contribution is included in the financial statements at an estimate based on the value of those services and facilities to the charity.
## **Income**
All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- investment income is included when receivable;
- incoming resources from charitable activity are accounted for when earned; and
- incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
10
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
## 1 **Accounting Policies (continued)**
## **Expenditure**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT and is reported as part of the expenditure to which it relates:
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activity and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
- Costs of generating voluntary income represent those costs which are incurred by the charity in the course of activities, which are designed to generate additional income that can be used for charitable purposes.
- All costs are allocated between expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.
## **Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any discounts due.
## **Cash and cash equivalents**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Taxation**
The company is not liable to taxation upon its income by reason of exemption under sections 466 to 493 of the Corporation Tax Act 2013.
## **Tangible assets**
Tangible assets are stated in the balance sheet at cost, less subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
## **Depreciation**
Depreciation is calculated so as to write off the cost of the asset, less its estimated residual value, over the useful economic life of the asset as follows:
Land and buildings
25% straight line
11
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
- **2 Income: Charitable activities**
|Walking Rugby
Premier Rugby projects
HITZ income
Wheelchair Rugby
**2021**
**Income: Donations and legacies**
Donations
**2021**|**2022**
**Unrestricted**
**£**
3,261
-
-
2,486
**5,747**
**1,446**
**2022**
**Unrestricted**
**£**
15,426
**6,432**|**2022**
**Restricted**
**£**
-
78,919
51,466
-
**130,385**
**88,601**
**2022**
**Restricted**
**£**
5,020
**-**|**2022**
**Total**
**£**
3,261
78,919
51,466
2,486
**136,132**
**90,047**
**2022**
**Total**
**£**
20,446
**6,432**|**2021**
**Total**
**£**
1,046
59,881
26,802
2,318|
|---|---|---|---|---|
|||||**90,047**|
|||||**2021**
**Total**
**£**
6,432|
||||||
- **3 Income: Donations and legacies**
12
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
**4 Income: Other trading activities**
|Lottery funding
Gems
The Veterans Foundation
Armed Forces grant
Gloucestershire County Council Trust
Tribute donation
Eventbrite
Jumpstart
Lions auction
Other fundraising
Laureu S Sport
Bals The Henry Smith Charity
Funding
Covid 19 response funding
**2021**
**Expenditure: Charitable activities**
Charitable activities :
Staff costs
Other costs (See note 6)
**2021**|**2022**
**Unrestricted**
**£**
-
-
-
-
-
243
174
3,539
1,734
4,299
-
-
-
-
**9,989**
**33,970**
**2022**
**Unrestricted**
**£**
-
60,809
**60,809**
**80,764**|**2022**
**Restricted**
**£**
60,950
16,674
6,960
27,370
15,220
-
-
-
-
-
-
-
-
-
**127,174**
**52,522**
**2022**
**Restricted**
**£**
192,684
34,030
**226,714**
**106,806**|**2022**
**Total**
**£**
60,950
16,674
6,960
27,370
15,220
243
174
3,539
1,734
4,299
-
-
-
-
**137,163**
**86,492**
**2022**
**Total**
**£**
192,684
94,839
**287,523**
**187,570**|**2021**
**Total**
**£**
12,100
15,733
6,960
-
-
-
-
-
-
-
8,859
8,870
21,770
12,200|
|---|---|---|---|---|
|||||**86,492**|
||||||
|||||**2021**
**Total**
**£**
110,125
77,445|
|||||**187,570**|
||||||
**5 Expenditure: Charitable activities**
13
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
- **6 Other costs comprise:**
|Premier Rugby Projects
Depreciation
Admin costs
Sponsorship
**2021**
**7**
**Employees**
**Staff costs consist of:**
Wages and salaries|**2022**
**Unrestricted**
**£**
5,666
-
10,143
45,000
**60,809**
**61,624**|**2022**
**Restricted**
**£**
25,200
-
8,830
-
**34,030**
**15,821**|**2022**
**Total**
**£**
30,866
-
18,973
45,000
**94,839**
**77,445**
**2022**
**Total**
**£**
192,684|**2021**
**Total**
**£**
15,821
12,107
4,517
45,000|
|---|---|---|---|---|
|||||**77,445**|
||||||
||||||
No employees were remunerated directly through the charity. The above wages and salaries have been recharged to the charity by Gloucester Rugby Limited.
||**2022**|**2021**|
|---|---|---|
||**Total**|**Total**|
|**The average number of employees during**|||
|**the year was:**|||
|Trustees/Directors (not remunerated)|4|4|
There were no employees whose annual emoluments were £60,000 or more.
## **8** Trustees’ remuneration
None of the trustees received remuneration this period.
14
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
**9 Tangible fixed assets**
|**Cost**
**At 1 July 2021 and 2022**
**Depreciation**
**At 1 July 2021 and 2022**
**Net book value**
**At 30 June 2021 and 2022**
**reditors: Amounts falling due within one year**
Trade creditors
Accruals
Amounts due to Gloucester Rugby Limited|**2022**
**Total**
**£**
1,041
3,000
60,132||**Land and**
**buildings**
**£**|
|---|---|---|---|
||||**48,427**|
|||||
||||**48,427**|
||||**-**|
|||
|**2021**
**Total**
**£**
4,482
3,000
22,783|
||**64,173**||**30,265**|
## **10 Creditors: Amounts falling due within one year**
15
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
**11 Movement of funds**
|**Restricted Funds**
Premier Rugby Projects
Wheelchair Rugby
HITZ
Lottery funding
Laureu S Sport
Gems
Bals The Henry Smith Charity
The Veterans Foundation
Armed Forces grant
Gloucestershire County Council
Grant
Other Grants
**Unrestricted Funds**
General funds|**At 1 July**
**2021**
**£**
**Incoming**
**Resources**
**£**
**Outgoing**
**Resources**
**£**
**At 30 June**
**2022**
**£**
8,409
1,918
9,284
4,191
3,069
5,450
3,073
2,410
-
-
-
78,919
-
51,466
60,950
-
16,674
-
6,960
27,370
15,220
5,020
63,598
140
50,304
49,117
3,069
13,437
3,073
5,609
22,057
12,265
4,045
23,730
1,778
10,446
16,024
-
8,687
-
3,761
5,313
2,955
975|
|---|---|
||37,804
262,579
226,714
73,669
30,276
31,162
60,809
629|
||**68,080**
**293,741**
**287,523**
**74,298**|
## **Purpose of restricted funds**
Premier Rugby Limited makes grants to the Charity to cover a proportion of the cost of the coaches delivering school and community rugby programmes (including HITZ) in line with the plan set out by the PRL. The income received from them can only be used as a contribution to salary, transport costs & equipment costs, hence the designation of this as a restricted fund.
The Wheelchair Rugby funding relates to membership fees received from players who are part of the team. This income is allocated to the specific bank account and can only be used for the purposes of funding the Wheelchair Rugby programme.
Lottery funding provides funding for the foundation to run and carry out programs relating to mental health and wellbeing within the local community. The funding received is used as a contribution towards salary costs.
Laureu S Sport provides funding for the foundation to provide programs for health and well being sessions to young people, with the funding received used as a contribution towards salary costs.
Gems is a source of funding in conjuncture with Gloucestershire County Council to provide education and job training skills for young people, the funding received contributes towards salary costs.
The Henry Smith Charity is for funding on programs relating to men’s health and the funding is used to contribute towards salary costs.
Veteran’s Foundation is funding allocated towards the foundation providing health and wellbeing sessions for Veterans of the Armed Forces, with the funding received contributing towards salary costs.
16
DocuSign�Envelope�ID:�5E47AA51-B41C-4B3D-A67A-E597FED16EF8
## **Gloucester Rugby Foundation**
## **Notes forming part of the financial statement for year ended 30 June 2022 (Continued)**
## **Purpose of restricted funds (continued)**
Armed Forces grant is funding towards providing weekly projects assisting Veterans, with funding received contributing towards salary costs.
Gloucestershire County Council grant is funding from the Digital Innovation Fund used to improve digital literacy within the local community and prevent a decline in independence, health or wellbeing, the funding received contributes towards salary costs.
## **12 Analysis of net assets between funds**
|Fund balances at 30 June 2022 are
represented by:
Non-current assets
Current assets
Creditors: amounts falling due within one
year|**Unrestricted**
**Funds**
**£**
-
64,802
(64,173)
**629**|**Restricted**
**Funds**
**£**
-
73,669
-
**73,669**|**Total**
**£**
-
138,471
(64,173)|
|---|---|---|---|
||||**74,298**|
## **13 Related party transactions**
During the year income and expenses amounting to £47,915 (2021 - £583) and £290,485 (2021 - £161,772) respectively were recharged from Gloucester Rugby Limited, a connected company, to the Gloucester Rugby Foundation. During the year the Gloucester Rugby Foundation paid a total of £205,221 (2021 - £164,126) to Gloucester Rugby Limited in respect of these transactions. At the year-end Gloucester Rugby Limited was owed £60,132 (2021 - £22,783) by the charity, which is disclosed within other creditors falling due in less than one year.
## **14 Control**
The charity was controlled throughout the year by the trustees collectively.
17