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The Daily Mile Foundation
Charitable incorporated organisation Annual report and financial statements Charity number 1166911
31 December 2024
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Contents
| Officers and professional advisors | 3 |
|---|---|
| Trustee report | 4 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and expenditure account) | 10 |
| Statement of financial position | 11 |
| Notes to the financial statements for the year ended 31 December 2024 | 12 |
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Officers and professional advisors
Registered charity name Charity registration number 1166911 Date of incorporation 4 May 2016
The Daily Mile Foundation
Charity’s principal address Hawkslease Chapel Lane Lyndhurst Hampshire SO43 7FG
The Trustees
| Elaine Wyllie | FoundingTrustee | From incorporation topresent. |
|---|---|---|
| John Wyllie | Trustee | From incorporation topresent. |
| Leonardus H Heemskerk |
Founding Trustee | Trustee from incorporation, Founding Trustee from 8 February 2017 to present. |
| Ursula Heath | Trustee | From 3 July2018 topresent. |
| Thomas P Crotty | Trustee | From 1 October 2023 to present. |
Principle supporter INEOS
Hawkslease Chapel Lane Lyndhurst Hampshire SO43 7FG Independent examiner Simon Brown BA ACA DChA Chartered Accountant Azets Audit Services Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS Bankers Barclays Bank Plc Southampton 2 Leicester Leicestershire LE87 2BB
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Trustee report
The trustees present their report and financial statements of The Daily Mile Foundation for the year ending 31 December 2024. The trustees confirm that the annual report and financial statements of the charity are prepared in accordance with the accounting policies as set out in Note 3 to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the FRS 102.
Reference and administrative details
Reference and administrative details are shown in the schedule of officers and professional advisers on page 3 of the financial statements.
The Trustees
The trustees who served the charitable incorporated organisation during the year were as follows:
E Wyllie
L H Heemskerk
J Wyllie
U Health
T P Crotty
Structure, governance and management
Governing documents
The Foundation was incorporated on 4 May 2016 and established under constitution of a CIO, that established the objects and powers that govern the operation of the charity. The only voting members are its charity trustees.
Appointment of Trustees
Elaine Wyllie, Founding trustee, is entitled to appoint those with requisite knowledge, skill and experience, and if there ceases to be a founding trustee, appointment shall be by resolution of all the charity trustees.
Organisational structure
Elaine Wyllie, Founding Trustee and founder of The Daily Mile initiative, leads the provision of services, both in person and online, backed by administrative and strategic support from a team of staff and ambassadors. Support staff being provided by the Foundations’ principle supporter, INEOS, as a donation in kind.
On 15 March 2024, The Daily Mile Foundation merged with Go Run For Fun Foundation to form a single charitable entity. See Note 4 in relation to the merger.
Risk management
The main risks associated with the Foundation are being managed by the trustees. The actual risks identified related to promoting The Daily Mile concept are perceived to be limited and therefore the foundation is not operating a formal risk register, assessment, prioritisation and mitigation process. However through regular, operational meetings the trustees are ensuring that the foundation’s activities and resources are aligned with its key objectives.
Key management personnel
The charity does not directly employ any staff, and therefore the trustees are considered to be the key management personnel and remain responsible for the day-to-day operation of the Charity.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Trustee report (continued)
Objectives and activities
The vision of The Daily Mile Foundation (the ‘Foundation’ from hereafter) is a world where every child can enjoy the benefits of regular physical activity. The charity aims to work in partnership with schools, Governments, national, regional, and local organisations, to promote and improve the physical, emotional, and social health and wellbeing of children. The Daily Mile involves children running, wheeling, or walking in their primary school or nursery settings for just 15 minutes each day.
Research studies have shown that The Daily Mile can help to improve children’s fitness, body composition, mental health, and contribute towards improved academic attainment. There are many non-specific studies that also prove the positive short-term and long-term effects of regular physical activity with regards to physical, social and mental wellbeing.
The Foundation will facilitate successful adoption of The Daily Mile model and sharing of advice and best practice between schools – both through sharing information via digital platforms and through direct consultancy with sector partners, educational leaders, teachers, local councils, public health organisations and other stakeholders. It will also seek to raise wider public awareness of The Daily Mile as a simple, free, scalable and impactful model to increase childhood activity and improve wellbeing.
The Foundation undertakes activities relating to the promotion of The Daily Mile model including online communications; speaking engagements; presence at relevant health and wellbeing events, conferences, PR activations; and school visits.
Although The Daily Mile started in the UK, the model has been adopted by schools in countries worldwide. To support this organic growth, the Foundation seeks to build partnerships with organisations globally that share the same passion for improving children’s physical, emotional, social and/or mental health and wellbeing.
Achievements and performance
Following an organisational review at the end of 2023, the Foundation started 2024 with a new Strategic Framework which aimed to deliver sustainable growth and development for the charity. The approach to building further capacity for the Daily Mile model is focused on developing and managing strong partnerships with likeminded organisations who are also committed to improving children’s health. Improving the charities insight into the needs and wants of schools and teachers and strengthening the charities marketing & communications capacity and capabilities to better support our core audiences is also central to this new strategic framework.
The charity and its partnership network continued to be successful in getting schools to adopt the Daily Mile model as a way of increasing physical activity. Across 2024, 1,938 new schools registered to participate in the Daily Mile globally, an increase of 10% across the year and providing an end of year total of 21,265 schools and early year settings globally (11,130 in UK) registered. In March 2023 the charity celebrated the milestone of over 5 million across the world benefitting from participation in the Daily Mile since the charity was established.
This significant scale of school registration to the model across many countries is important but so is sustained participation by schools. Early in 2024 the charity introduced the Children Fit For Life Award as one of a number of mechanisms to be implemented to gain greater insight into the sustained participation by schools. By the end of the year over 300 schools had been successful in achieving Children Fit For Life status.
In May 2024 the charity was delighted that our Founder and Trustee, Elaine Wyllie MBE, was recognised for transforming millions of lives all over the world by receiving the Lifetime Achievement Award at The Daily Record Pride of Scotland Awards 2024.
Insight gained from teachers and school leaders highlighted the increasing concerns around children’s mental health and social wellbeing, with many anecdotally stating that these concerns were the main motivation to participate in the Daily Mile. In May the charity expanded its partnership with children’s mental health charity, Place2Be, supporting their ‘Children’s Mental Health Week’ campaign by developing shared resources which provide practical tips for parents, caregivers, and teachers on promoting children and young people's mental wellbeing through physical activity.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Trustee report (continued)
Achievements and performance (continued)
The charity continued to work with our implementation partners across the UK to lobby and advocate for the importance of regular physical activity in our schools. With strong evidence demonstrating that active children are healthier and happier, and healthy and happy children learn better, it is essential that policy allows for and encourages more physical activity in the school day. At the Labour Party Conference in Liverpool in September, Kim Leadbeater, MP and Stephanie Peacock, Minister for Sport, Media, Civil Society and Youth joined children from a local school to complete a Daily Mile and advocate for sport and physical activity opportunities within schools. In December, Northern Ireland Health Minister Mike Nesbitt joined other politicians and over 100 local Belfast school children to complete a Daily Mile around the grounds of Stormont. As part of the activation, Mike Nesbitt confirmed that the Daily Mile would form part of a new obesity strategy in Northern Ireland.
The charity has always looked to use milestone events or activations to engage schools, teachers, and children in the Daily Mile. On 5[th] December 2024, the charity launched the inaugural ‘Daily Mile Santa Run’, an event providing schools with the opportunity to give their Daily Mile a festive twist. The Santa Run campaign was promoted across the UK in its first year, providing schools with resources to encourage children to dress up for their festive Daily Mile. In collaboration with the Manchester United Foundation, we also hosted a Daily Mile Santa Run event at the Old Trafford Stadium, providing over 200 children from local schools in disadvantaged communities with a unique festive experience. It was a fantastic way to round off a very positive year for the charity.
Financial review
The principal supporter and contributor to the Foundation is the business INEOS (www.ineos.com).
During the year the Foundation’s accounts recognise expenditure totalling £340,921 (2023 (restated): £392,233 ) having been directly incurred by the Foundation in its own name and having received cash donations and grants of £12,500 (2023 : £348,744) .
During the year INEOS made quantifiable donations in kind of £478,244 (2023 (restated): £458,794) . As per the accounting policies in Note 3, donations in kind are not included within the financial statements. These arose by INEOS providing manpower resource to support the Foundation activities of £444,722 (2023 (restated): £412,827) , incurring allowance and expense costs of £33,522 (2023 (restated): £45,967) for the Founding Trustee E. Wyllie.
In addition to this, INEOS has made unquantifiable contributions in kind, by providing ad-hoc administration support to the Foundation as well as allowing the Foundation to operate from its premises free of charge.
At the year end, The Foundation holds a cash balance of £7,750 (2023 (restated): £154,822) and has unrestricted free surplus upon reserves of £343,799 (2023 (restated): £640,272) .
Going concern
INEOS, the principal supporter, has indicated its intention to continue to provide donations and donations in kind to the Foundation, until such time as the Foundation is able to obtain sufficient sources of income to support itself.
The Trustees, having received notification from INEOS of its intention to continue with its support, are not aware of any material uncertainties about the charity's ability to continue as a going concern.
Reserves policy
The Foundation has no formal reserves policy. However, the Trustees through regular operational meetings and working in partnership with its principal supporter INEOS, manages its day to day working capital and forthcoming annual operation requirements through agreed funding from INEOS.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Trustee report (continued)
Plans for future periods
The revised strategic framework implemented for 2024 has served the charity well and will be extended into the delivery plan for 2025. The charity has strengthened its partnerships across the UK and Ireland, with Scottish Government, Welsh Athletics, Athletics Ireland, and Athletics Northern all extending their status as implementation partners in their respective countries. In England, the charities partnership with London Marathon Events will be expanded in 2025 from a London only focus to an England wide focus, with additional investment in three new regional roles to promote the Daily Mile within schools. Alongside these national level partnerships, the charity will continue to collaborate with other organisations who share our vision and passion for increasing physical activity and improving children’s health. Projects with Junior parkrun, SAMH, Place2Be, the Team GB Foundation, among others are planned for 2025 and beyond. The charity is also continuing the same partnership led approach to building capacity across Europe, working strategically with organisations like the International Sport & Culture Association (ISCA) to connect with potential implementation partners. The process of identifying and onboarding The Dutch Athletics Federation in the Netherlands provides a strong template for future partnerships. At the time of writing this report positive progress is being made in Belgium and Denmark, with ongoing conversations also taking place with organisations in Spain.
In the USA our colleagues at the ICAN Foundation continue to successfully use educational conferences and publications as their main platforms for engaging educational leaders and teachers and registering schools to the Daily Mile model. The challenge of scale remains, so work to try and identify potential implementation partners on a state, regional or national level will form part of the work in the USA as the charity moves forward.
As outlined above, the further improvement of our marketing & communications activity is a big focus for the charity. The recruitment of a new Marketing & Communications Manager and the investment in a new website and email marketing platform (to go live in 2025) is an important part of this work. At the time of writing this report the charity is also progressing some branding work to simplify and freshen up the Daily Mile brand to help the charity better engage its core audiences.
Closely aligned with this marketing & communications work will be a new research project in collaboration with the University of Stirling, the University of Edinburgh, and The Daily Mile Foundation. Starting in 2025, a three-year PhD placement will investigate how messaging can support behavioral change in relation to the implementation and sustainability of the Daily Mile intervention.
The ability of the charity to monitor, measure, and report its impact remains a strategic priority, and as part of the Foundation’s extended partnership with London Marathon Events, it is developing a new Theory of Change model and set of KPI’s that can be extended across the UK and Ireland and beyond following its initial implementation across England.
Public benefit
The trustees have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The charitable objectives also are set in order to provide a clear and demonstrable public benefit.
Fundraising policy
The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.
Trustees’ responsibilities statement
The charity's trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and regulations.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Trustee report (continued)
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under the law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that year. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent examiner
A resolution to re-appoint Simon Brown BA ACA DChA of Azets Audit Services as independent examiner for the ensuring year will be proposed at the annual general meeting.
The financial statements were approved by the Trustees on 16 October 2025 and signed on their behalf by:
L Heemskerk
Leonardus Heemskerk 16 Oct 2025 14:48:00 BST (UTC +1)
L.H. Heemskerk Trustee The Daily Mile Foundation Hawkslease, Chapel Lane, Lyndhurst Hampshire. SO43 7FG
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Independent examiner’s report to the trustees of The Daily Mile Foundation
I report to the trustees on my examination of the financial statements of The Daily Mile Foundation (the Charity) for the year ended 31 December 2024.
Respective responsibilities of trustees and examiner
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’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 examiner’s statement
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner’s statement
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
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the accounts do 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.
( Be. oevean
Simon Brown 17 Oct 2025 07:57:43 BST (UTC +1)
Simon Brown BA ACA DChA Azets Audit Services Chartered Accountant Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS
Azets Audit Services is a trading name of Azets Audit Services Limited
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Statement of financial activities (including income and expenditure account)
for the year ended 31 December 2024
| Unrestricted | Restricted | Total funds | ||
|---|---|---|---|---|
| Note | funds 2024 | funds 2024 | 2024 | |
| £ | £ | £ | ||
| Income | 5 | |||
| Grants | - | 12,500 | 12,500 | |
| Interest income | 31,948 | - | 31,948 | |
| Total income | 31,948 | 12,500 | 44,448 | |
| Expenditure | ||||
| Expenditure on charitable activities | 6 | (328,421) | (12,500) | (340,921) |
| Total expenditure on charitable activities | (328,421) |
(12,500) |
(340,921) |
|
| Deficit for the year | (296,473) |
- |
(296,473) |
|
| Reconciliation of funds | ||||
| Total funds brought forward | 640,272 | - | 640,272 | |
| Net movement in funds | (296,473) | - | (296,473) | |
| Total funds carried forward | 343,799 |
- |
343,799 |
|
| Unrestricted | Restricted | Total funds | ||
| Note | funds 2023 | funds 2023 | 2023 | |
| (restated) | (restated) | (restated) | ||
| £ | £ | £ | ||
| Income | ||||
| Grants | 5 | 298,744 | 50,000 | 348,744 |
| Interest income | 20,775 | - | 20,775 | |
| Gain on disposal of investment | 1,850 |
- | 1,850 | |
| Total income | 321,369 |
50,000 | 371,369 | |
| Expenditure | ||||
| Expenditure on charitable activities | 6 |
(342,233) |
(50,000) | (392,233) |
| Total expenditure on charitable activities | 4 |
(342,233) |
(50,000) | (392,233) |
| Deficit for the year | 4 |
(20,864) |
- | (20,864) |
All activities of the Company relate to continuing operations.
The Statement of financial activities includes all gains and losses recognised in the year.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Statement of financial position as at 31 December 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| (restated) | |||
| £ | £ | ||
| Current assets | |||
| Debtors | 9 | 339,713 | 520,775 |
| Cash at bank and in hand | 7,750 |
154,822 | |
| 347,463 | 675,597 | ||
| Creditors:amounts falling due within one year | 10 | (3,664) |
(35,325) |
| Net current assets | 343,799 |
640,272 | |
| Total assets less current liabilities | 343,799 |
640,272 | |
| Net assets | 343,799 | 640,272 | |
| Funds of the charity | |||
| Unrestricted funds | 12 | 343,799 | 640,272 |
| Restricted funds | 12 | - |
- |
| Total charity funds | 343,799 | 640,272 |
These financial statements on pages 10 to 20 were approved by the Board of Trustees on 16[th] October 2025 and were signed on its behalf by:
L Heemskerk
Leonardus Heemskerk 16 Oct 2025 14:48:00 BST (UTC +1)
L H Heemskerk Trustee
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements)
1 General information
The charity is a charitable incorporated organisation (CIO), a registered charity in England and Wales. The address of the registered office is Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG.
The principle activity of the charity is to work in partnership with schools, governments, national and local organisations, to promote and improve the physical, emotional, and social health and wellbeing of children.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3 Accounting policies
Basis of preparation
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. In accordance with the FRS 102 Public Benefit Entity 3.3A the trustees confirm that this charitable incorporated organisation is a Public Benefit Entity.
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
On 15 March 2024, The Daily Mile Foundation merged with Go Run For Fun Foundation to form a single charitable entity. See Note 4 in relation to the merger.
Going concern
At the balance sheet date, the CIO had a surplus of current assets over current liabilities of £343,799 (2023 (restated): £640,272 ) and surplus of net assets over net liabilities of £343,799 (2023 (restated): £640,272) . The CIO held cash of £7,750 (2023 (restated): £154,822) . The financial statements have been prepared on a going concern basis which assumes the CIO will continue in operational existence for the foreseeable future. The validity of the use of this basis depends upon the following:
The CIO manages its day to day working capital requirements through funding from INEOS. There is also a commitment made by INEOS Holdings Limited that it intends to support the CIO, for at least one year after these financial statements are signed.
The trustees have considered the financial position and consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
Disclosure exemptions
The entity has taken advantage of FRS 102 section 1A available to small entities and therefore no cashflow statement is required.
Monetary income
Donations and other income are recognised where it has been received, or there is entitlement to receipt.
In the event that a donation or income is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
3 Accounting policies (continued)
Grants
Grants are recognised when the Foundation has an entitlement to the funds and any conditions linked to the grant have been met. Where performance conditions are attached to the grant and are yet to be met the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Donations in kind
Non-monetary donations and services provided free of charge, are not included within the financial statements, as such items are unable to be consistently measured with sufficient reliability. However where such items have been received, such items are narratively indicated within the notes to the accounts.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
All expenses are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
Fund accounting
Restricted funds are maintained in accordance with the restrictions placed upon monies received from the donor.
Unrestricted funds are the free funds of the Charity to use at the discretion of the trustees in the furtherance of the charity's objectives. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of one month or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
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 recognised at their settlement amount after allowing for any trade discounts due.
Fixed asset investment
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognized in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
4 Merged accounts
On 15 March 2024, The Daily Mile Foundation merged with Go Run For Fun Foundation to form a single charitable entity. The merger qualifies for merger accounting under FRS 102 Section 34 and Charities SORP Module 27, as no party was dominant, governance was by consensus, and purposes and beneficiary classes remained substantially unchanged.
All comparative figures for the previous year have been restated on a combined basis to comply with merger accounting presentation requirements under Charities SORP Module 27.
In the tables below, The Daily Mile Foundation and Go Run For Fun Foundation refer to the charities with registration numbers 1166911 and 1156230 respectively.
Analysis of principal Statement of financial activities components – 31 December 2024
| The Daily Mile Foundation (pre-merger) Go Run Fo (pre £ Total income - Total expenditure (4,250) Net expenditure (4,250) Net movement in funds (4,250) Total funds brought forward 107,826 Total funds/(deficit) carried forward 103,576 |
For Fun undation -merger) £ - - |
The Daily Mile Foundation (post-merger) £ 44,448 (336,671) (292,223) (292,223) 103,576 (188,647) |
Total £ 44,448 (340,921) (296,473) (296,473) 640,272 343,799 |
Total £ 44,448 (340,921) (296,473) (296,473) 640,272 343,799 |
|---|---|---|---|---|
| - |
||||
| - 532,446 |
||||
| 532,446 |
343,799 |
Analysis of principal Statement of financial activities components – 31 December 2023
| The Daily Mile | Go Run For Fun | Inter-company | Total | |
|---|---|---|---|---|
| Foundation | Foundation | trade removal | ||
| (pre-merger) | (pre-merger) | |||
| £ | £ | £ | £ | |
| Total income | 415,594 | 20,775 | (65,000) | 371,369 |
| Total expenditure | (392,233) |
(65,000) |
65,000 |
(392,233) |
| Net income/expenditure | 23,361 |
(44,225) |
- |
(20,864) |
| Net movement in funds | 23,361 | (44,225) | - | (20,864) |
| Total funds brought forward | 84,465 |
576,671 |
- |
661,136 |
| Total funds carried forward | 107,826 |
532,446 |
- |
640,272 |
Analysis of principal Statement of financial position – 31 December 2023
| The Daily Mile Foundation Go Run For Fun Foundation £ £ Debtors - 520,775 Cash 143,151 11,671 Creditors (35,325) - Net assets 107,826 532,446 |
Total £ 520,775 154,822 (35,325) |
|---|---|
| 640,272 |
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
4 Merged accounts (continued)
Analysis of net assets as at date of merger – 15 March 2024
| The Daily Mile Foundation Go Run For Fun Foundation £ £ Net assets 103,576 532,446 Represented by: Unrestricted funds 95,243 532,446 Restricted income funds 8,333 - Total funds 103,576 532,446 5 Income Unrestricted income Donations INEOS donation income Event donation income Total donation income Other Gain on disposal of investment Interest income Total unrestricted income Restricted income Grants Sport England Total restricted income Total income |
Total £ 636,022 627,689 8,333 636,022 2024 2023 (restated) £ £ - 200,000 - 98,744 - 298,744 - 1,850 31,948 20,775 31,948 321,369 12,500 50,000 12,500 50,000 44,448 371,369 |
|---|---|
5 Income
During the year INEOS made quantifiable donations in kind of £478,244 (2023 (restated):£458,794) by providing direct manpower resource to support the charities activities. ( See note 8) .
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
6 Charitable activities
| Unrestricted charitable activities Support and Governance_(Note 7)_ Marketing and communications Event costs Research Travel costs Grant payments Manpower project coordinator Total unrestricted charitable activities Restricted Manpower project coordinator Total restricted charitable activities Total expenditure on charitable activities 7 Support and governance Bank fees Independent examiners fees Trademark registration and protection Fines and penalties |
2024 ( £ 15,864 224,776 8,127 75,066 2,088 - 2,500 328,421 12,500 12,500 340,921 2024 ( £ 109 3,650 12,005 100 15,864 |
2023 restated) £ 5,426 132,423 157,184 7,200 - 30,000 10,000 |
|---|---|---|
| 342,233 |
||
| 50,000 |
||
| 50,000 |
||
| 392,233 |
||
| 2023 restated) £ 42 2,450 2,934 - 5,426 |
7 Support and governance
Independent examiners remuneration for the year consists of independent examiners fee of £3,650 (2023 (restated): £2,450).
In additional to this INEOS makes unquantifiable contributions in kind, by providing manpower and administration support to the Foundation and also allows the Foundation to operate from its premises free of charge.
8 Trustee and staff costs
The Foundation had no employees during the year (2023: none) .
The CIO considers its key management personnel to be the Trustees.
No Trustee received remuneration from the Foundation during the year in respect of their services to the Foundation (2023: nil).
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VirtualSignature Transaction Ref. MBW4-5WWM-XG46 17 Oct 2025 07:57:47 BST (UTC +1) D 1/3 P 17/20
The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
8 Trustee and staff costs (continued)
INEOS made quantifiable donations in kind during the year of £478,244 (2023: £458,794) .
These arose by INEOS directly incurring the following costs:
Manpower resource supporting the Foundation activities of £444,722 (2023: £412,827).
Allowance and expense costs of £33,522 (2023: £45,967) for the Founding Trustee E Wyllie.
9 Debtors
| Amounts owed by related parties | 2024 £ 339,713 339,713 |
2023 (restated) £ 520,775 520,775 |
|---|---|---|
On 26 December 2023, Go Run For Fun Ventures Limited (“Ventures”), a wholly owned subsidiary of Go Run For Fun Foundation (“GRFFF”), was dissolved in advance of the Merger. At the date of dissolution, a loan with a principal amount of £500,000 remained outstanding from Ventures to GRFFF. Under the terms of the Loan Agreement, the total balance payable by Ventures to GRFFF including accrued interest and penalties was £520,775.
The Loan Agreement included:
-
an obligation to repay the principal loan amount of £500,000 in five annual instalments of £100,000 each; and
-
an obligation to pay interest on the outstanding balance quarterly in arrears, with any unpaid interest being capitalised
-
and added to the principal amount of the Loan.
The directors of INEOS Holdings Limited (“IHL”) resolved to support GRFFF by assuming the debt owed by Ventures. A Deed of Novation was executed, under which IHL became obligated to pay the outstanding loan balance of £520,775 to GRFFF and, following the Merger, to TDM.
The facility terms allow The Daily Mile Foundation to draw up to £100,000 per annum. Interest is payable upon amounts drawn at 5%, and the agreement expires in January 2027.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
10 Creditors
| Trade creditors Accruals Deferred income Arising from deferred income Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January Released from previous periods Resources deferred in the year Deferred income at 31 December |
2024 2023 (restated) £ £ 314 20,725 3,350 2,100 - 12,500 3,664 35,325 2024 2023 £ £ - 12,500 2024 2023 (restated) £ £ - 12,500 12,500 12,800 (12,500) (12,800) - 12,500 - 12,500 |
|---|---|
11 Related parties
During the period the Foundation had the following transactions with entities controlled by INEOS Limited.
Donations in Kind received of £nil (2023: £247,650) from INEOS Holdings Limited. Donations in Kind received of £478,244 (2023: £211,144) from INEOS European Holdings Limited. Five year unsecured loan with INEOS Holdings Limited (See Note 9).
In additional to this INEOS has made unquantifiable contributions in kind, by providing manpower and administration support to the Foundation and also allows the Foundation to operate from its premises free of charge.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
12 Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| 1 | January | 31 December | |||
| 2024 | Income | Expenditure | 2024 | ||
| £ | £ | £ | £ | ||
| General funds | 640,272 | 31,948 | (328,421) |
343,799 | |
| 1 January | 31 December | ||||
| 2023 | Income | Expenditure | 2023 | ||
| (restated) | (restated) | (restated) | (restated) | ||
| £ | £ | £ | £ | ||
| General funds | 661,136 |
321,369 |
(342,233) |
640,272 |
|
| Restricted funds | |||||
| 1 | January | 31 December | |||
| 2024 | Income | Expenditure | 2024 | ||
| £ | £ | £ | £ | ||
| Sport England | - |
12,500 |
(12,500) |
- |
|
| 1 January | 31 December | ||||
| 2023 | Income | Expenditure | 2023 | ||
| (restated) | (restated) | (restated) | (restated) | ||
| £ | £ | £ | £ | ||
| Sport England | - |
50,000 |
(50,000) |
- |
Reserve note
Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds, where the trustees, at their discretion, have created a fund for a specific purpose.
The basis for calculating 'free reserves' are after allowing for all designated funds, fixed assets and other noncurrent assets and liabilities.
Restricted funds comprise of a grant made by Sport England in regard to a Daily Mile England project coordinator for two years.
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The Daily Mile Foundation Annual report and financial statements 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
(forming part of the financial statements) (continued)
13 Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Debtors | 339,713 | - | 339,713 |
| Cash | 7,750 | - | 7,750 |
| Creditors | (3,664) |
- | (3,664) |
| Net asset | 343,799 |
- | 343,799 |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| (restated) | (restated) | (restated) | |
| £ | £ | £ | |
| Debtors | 520,775 | - | 520,775 |
| Cash | 142,322 | 12,500 | 154,822 |
| Creditors | (22,825) |
(12,500) | (35,325) |
| Net asset | 640,272 |
- | 640,272 |
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