THE JD FOUNDATION TRUSTEES, REPORT AND AUDITED ACCOUNTS Registered charity number 1167090 Company number 09808812 For the year ended 31 January 2024
THE JD FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Traci Corrle Nell Greenhalgh (resigned 1 March 2023) Nlgel Keen NScola Kowalczuk Mlchael ATmstrong (appolnted 16 March 2023) Theresa Casey (appolnted 10 June 2023) Chalrperson Trac5 Corrle company Number 09808812 Charlty Number 1167090 Audltors Barlow Andrews LLP Carlyle House 78 Chorley Now Road Bolton BL14BY Bankers Barclays 43 High Street Sutlon Surrey SM11DR Sollcltors DLA Plper UK LLP Prlnces Exchange Princes Square Leeds LS14BY Addleshaw Goddard LLP On6 St Peter's Square Manchester M2 3DE Reglstered Offlce Edlnburgh House Holllnsbrook Way Pllsworth Bu.ry Lancashire BL9 8RR
THE JD FOUNDATION CONTENTS Page Trustees. report Statement of trustees, responsibllltlès Independant audltor's rèport statement of finan¢lal actlvllies Balance sheet statement of cashflows 10 Notes to the accounts
THE JD FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The Trustees present their annual report and financial statements for tha year ended 31 January 2024. The financial statements have been prepared In accordance wilh Ihe accounllng pollcles set out In note 1 to the financial statements and comply with the charity's Memorandum and Articles of Assoclatlon, the Gharities Act 2011 and "Accountlng and Reportlng by Charities: Statement of Recomm6nded Practice appllcable to Charitles preparing tholr accounts In accordance wlth the Flnanclal Reportlng Standard applioable In the UK and Republlc of Ireland <FRS 102) leffectlV6 1 January 2019)" Structure, governanca and management Trustees The trustees who served durlng the period were.. Tracl Corrig Neil Greenhalgh (resigned 1 March 2023) Nigel Keen Nicola Kowalczuk Mlchael Armstrong (appointed 16 March 2023) Theresa Casey (oppolnted 10 June 20231 Governing Document The JD Foundation ('JD Foundation,) was In¢orporated on 4 October 2015 as a company limited by guarantee and is govemed by its memorandum and articles of associalion. The company was subsequ8ntly registered as a charlty with Ihe Charlly Commlssion on 13 May 2016. The directors are trustees for the purposes of charity law and in thls raport are collectlvely referred to as the trustees. Responsibillty for JD Foundatlon's direction and affalrs lies with the trustee8. Appointment of trustees, Induction, and tralnlng The skill requirements for the trust body are reviewed and any vacancy arislng is filled by consensus amongst the remaining trustees to meet the necessary criteria. When new Iruslees are appointed, they are glven an Introducllon to the work of the trust and provlded with the informatlon needed to fulfil their roles, which Includes informalion about the role of trustees and charity law, Meetlngs take place at leasl Ilce a year to review the charity's financial matters and g8neral op8rating management, Objectlves and actlvltles JD Foundatlon's vlslon was adapted and ratlfied on 14 September 2023 durlng a Trustee Meeting. The new vislon of JD Foundation Is "young people achlevlng their unllmlted potentlal" wlth our mlsslon belng "buildlng stronger youth communities and transformlng young people's lives through opportunllies, engagemenl and soclal change.. Principal fundlng sourG8S Th8 trust has 2 principal sources of income: 100°/o of the income {net of VAT) arislng from the sale of slngle use carrler bags in JD Sports retail stores in England, Scolland. Wales. Northern Ireland and Europe. Micro-donations made by customers at the polnl of sale vla our charity partner Pennles. Thase donatlons are received across all stores includlng JD. Slze, Go Outdoors, Blacks. Mlllets. Charities Supported This income is then distrlbuted as follows: Mounlaln Rescue England & Wales- a specific donatlon reflecting 109/0 of tho amount ralsed In8t of VAT) from Ihe sale ofcarrier bags in JD Sports retail stores in England & Wales. Scottish Mountain Rescue- a speclficdonation reflecung 10 /0 oflhe amount ralsed {netofVAT}from Ihe sal8 of carrl8r bags in JD Sports ratall stores in Scotland. JD Foundation's nomlnated charltles and other support projacts- donallons ofvarylng amounts from th6 remainlng 900/9 of the amount ralsed (net of VAT) from the sale of ¢arrler bags In England, Wales and Scotland plus income from other sources of fundralslng.
THE JD FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 JD Foundatlon's nominated charlties during the year to 31 January 2024 were,. C,R.Y. {Cardlac Risk in the Young) Aaron James Dlxon Memorial Fund Once Upon A Smile Salford Foundation Smiling Famllles Kldscape Manchester Youth Zone Papyrus Youngmlnds Sport4 Llfe UK Bolton Wanderers Community Trust The Wellspring Sacriston Youth & Community Prolect Hldeout Blueprint 4 All Buddies Of The Blrches Unseen Harmony Youth Ptoject SaSford Foundation Trust Dlane Modahl Sports Foundation The Wee Haven Project (WHY) Tha Raheem Sterllng Foundation Sign Along Wlh Us Foundatlon Scottish Mountaln Rescue Mountain Rescue England & Wales Flnanclal revlew The Stalemenl of Financlal Activitles forthe perlod Is sel oul on page 8. Flnanclal accounts are reviewed by all trustees regularly and the annual flnanclal statements ara subjecl to audit by reglslered auditors. Achlevemenls durlng the year The perlod covered by thls report and attached financlal statemenig Is 1 February 2023 to 31 January 2024, Durlng thls porlod the actlvity of JD Foundatlon comprised the receipt of income from JD Sports Fashlon PIC of £2,622,242 (2023: £1,713.397) and subsequent donatlons to the nominated youth and envlronmental charities of £1,071,394 (2023". £657.317). During the year, we continued to support numerous organlsations Ihrough our charitable donatlons. as outlined above and In note 5 to the accounts. Princlple fundlng source The Foundatlon Is dependent on all Income (net of VAT) arlslng from Ihe sale of slngle use carrler bag8 In JD stores In England, Scolland, Wales, Northern Ireland and other European countrles, as w811 as mlcro-donalions from customers at the Store polnt of sale and colleague donallons & fundraislng. Plans for the future The trustees and the senlor leadershlp leam have been working hard to ensure that JD Foundatlon Is havlng as much impact as possibl8 for the chosen benefi¢larSes, and as a result of Ihls, JD Foundatlon has been through a fijll rebrand of it8 vl8lon, mlsslon and values In re¢enl months. Thls rebrand leaves Ihe board feellng confldent that tho Foundatlon Is future-proofed to ensure an unwaverlng commitment to the outcomes of young people for years to com8. Slnce 2015, JD Foundallon has supported a wlde range of Charllies across UK who have been prlmarlly focused on provlding opportunitles for young pèoplé, and we have now declded to double down on thls as our sole focus based on feedback from our JD Group colleagues, our ¢harlty parlners and feedback from our consumers. As dlscussed in last year's Trustee Report, we have redeveloped our slrategy whlch breathes fresh air into the focus of JD Foundatlon, whilst embeddlng the charily arm of the group Into the corporate slrategy for JD Sports Fashlon Plc.
THE JD FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Plans for the future (continued) Our new strategy is broken down into 2 key areas: Community This consists of the provislon of Grants and Partnershlps to charltable organisatlons who align with our vision and that operate across communities wlthln the UK. This strand is made up of a colleague-led Grant Glving programme, alongside our exlstlng Charlty Partnership model. Opportunlty Thls conslsts prlmarlly of programmes and partnershlps that help us to achleve our vislon, on a more strategic and national level. Examples of this include our JDUP careers and opportunlly programme, as well as our partnership with Prlnce's Trust. We are looking foNard to this next iteratlon of JD Foundation In the knowledge that we can continue to improve our working practices to allow us to better support our communities, colleagues, and consumers, buildlng on the Ilfa-changlng work that our Trustees have led on since JD Foundation was first formed In 2015. Reserves The trustees have revlewed the reseNe5 of the trust. The policy Is lo meet its commllments glven to speclfic nominated charities each year. Unrestricted general funds (free reserves) total £1,318,545 (2023: £768,869) and deslgnated funds total £1,361,322 at 31 January 2024 {2023: £565,558}. The trustees confirm that they are ultlmately accountabl& for settlng and monitorlng the level of reserves kept by JD Foundatlon and will keep Ihe reserves pollcy under review to ensure It remalns appropriate. Rlsk factors The trustees have assessed Ihe malor rlsks to whlch JD Foundatlon Is exp08ed and have establlshed systems and procedures to manage them. In partlcular fraud and flnanclal control are kept under revlew, The trustees believe that all major risks are mitigated. Related partles JD Foundatlon receives its Income from, but is independent of, JD Sports Fashion Pl¢. The trustees take all decisions in the best Interest8 of the furtherance of the charity and Its charitabl6 objectives. Publlc benefit statement The trusteès confirm that JD Foundalion complled wlth the Charities Act 2011 In the perlod. Each year, the truslees review the objectives and aotlvities of the charity to ensure that th8y contlnue lo rellect their aims and provide a publlc benefit. The trustees are satlsfied that they do. The trustees have pald due regard to guidance Issued by the Charily Commlssion in r6lation to a¢livities for the public benefit in decldlng what activities the charlty should undertake. Dlsclosure of Inforrnation to thè audltors So far as we are aware, th8re Is no relevant audit Informatlon of whl¢h JD Foundation's audltor Is unaware and wo have taken all steps that we ought to have taken as trustees to make ourselves aware of any relevant audlt Informatlon. Audltors A resolutlon for the reappolnlment of Barlow Andrews LLP as auditors Is to be proposed at the forthcomlng Annual General Meeting. The trustees recommend Ihat Barlow Andrews LLP remaln In office unlil further nolico. I declare in my capaclty of charity trustee that the trustees have approved the report above and have aulhorl8ed me to sign it on th9lr behalf. Signed by Nicola Kowalczuk, Trustee
THE JD FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2024 Unlted Kingdom law 8pplicable to charitles in England and Wales requlres Ihe Iru8tees to prepare accounts for each financial year whlch give a true and falr vlew of the Incomlng resources and applicatlon of the resources of Ihe charlty during the year and of Ils state of affalrs at the end of the year. In preparing the accounts the trustees should follow besl practice and: select suitable accountlng pollcles and then apply them conslstently. make Judgem6nts and estimates Ihat are reasonable and prudent. state whether applicable accountlng standards and statements of recommended practice have been followed., and prepare the accounts on Ihe golng concern basls unless it is inappropriate to assume that the charfty wlll be able to continue to meet its oblecllves. The trustees are responsible for keeplng proper accounting records whlch dlsclose with reasonable accuracy at any tlme Ihe financial position of the charity and whlch enabl8 them to ascertain its financial position and to ensure that the accounts comply with the Charitlas Act 2011, the Charitlès (Accounts and Reports) Regulatlons 2008 and Ihe Trust Deed. Thoy are also responsible for safeguarding Ihe assots of th6 charily and henc8 for taklng reasonable steps for the preventlon and detection of fraLtd or other Irregularltle8.
THE JD FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE JD FOUNDATION Opinion We have audited the financial statements of JD Foundation for the year ended 31 January 2024 whlch comprise Ihe Statement of Financial Activities, the Balanc6 Sheet, Ihe Statement of Cash Flows and notas to the flnancial statements, including a summary of slgnificant accountlng policies. The financlal reporting framework Ihat has been applled in thelr preparation Is applicable law and United Klngdom Accounting Slandards, Includlng Flnancial Reportlng Standard 102 the Financlal Reportlng Standard appllcable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountlng Practlce). In our oplnion the financial statements: give a true and fair view of the state of the charitable company's affairs as al 31 January 2024 and of its incoming resources and applicallon of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practl¢6; and have been prepared In accordance wlth Ihe requlrements of th8 Companles Act 2006. Basis for oplnlon We conducted our audit In accordance with International Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our responsibilities under those standards are further descrlbed in the Auditorfs responsibllltles for the audit of the financial statements sectlon of our report. We are Independent of the charitable company in accordance with the ethlcal requirements that are relevant to our audit of the financlal statements in the UK, includlng the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilltles in accordance with these requlrements. We believe that the audlt evidence we have obtained is sufficlent and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In audltlng the financial statements, we have concluded that the IfUStees' use of the going concern basls of aocounting in the preparation of Ihe financlal statements is approprlate. Based on the work we have p8rformed. we have not identified any material uncertainties relating lo events or condltions that, individually or collectively, may cast significant doubt on Ihe charity's ability to continue as a golng concern for a perlod of at least e1ve monlhs from when the financial statements are authorised for issue. Our responsibilities and the rèsponsibilities of Ihe trustees with respeot to going concern are descrlbed In the relevant sections of this report. Other Information The other Information comprises the information included in the annual report other than the ftnancial statements and our auditorfs report thereon. The trustees are responsible for the other informatlon contained withln the annual report. Our oplnion on the financial statements does not cover the other Information and we do not express any form of assurance conclusion thereon. Our respons5blllty is to read the other information and, In doing $0, consider whether the other information is materially Inconslstant with the financlal statements or our knowledge obtained in the Gourse of Ihe audlt, or otheIse appears lo be materially mlsstated. If we identify such material inconsistenclas or apparent material misstatemenls, we are requlred to determine whether this gives rise to a material mlsstatement in the financial statemenls themselves. If, based on the work we have performed, we conclude that there Is a material misstatament of this other informallon. we are requlred to report that fact. We havè nothing to report In this regard. Opinions on other matters prescribed by the Companles Act 2006 In our oplnlon based on the work undertaken in the course of our audSt the information given In Ihe trustees, report, which Includes the directors, report prepared for tho purposes of company law, for the financlal year for which tho financial statements are prepar8d is Gonslstent wilh the flnancial statements: and the dlrectors, report Included wlthln the trust8e8' report have been prepared In accordance with appllcable leg81 requirements.
THE JD FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE JD FOUNDATION Matters on which we are requlrèd to report by exceptlon In Ilght of the knowledge and understandlng of the charitable company and Ils envlronment oblalned In the course of the audlt, we have not idantlfied material missiatemenls in the directors, report Included w5thln the trustees, report. We have nothlng to report In resp8Ct of the followlng matters In relatlon to whlch the Companles Act 2006 requlres us to report to you If, In our oplnion: the information given In tha flnancial statemènts is inconslstent In any material respect wlth the trustees, report. or sufficlent a¢¢ountlng records have not been kepl., or the financlal statements are not in agreement wllh the accounting records. or we have not received all the Informatlon and explanalions we raqulr8 for our audit. Responslblllties of trustee$ As explalned more fully in the statement of trusteés, responslbllltles, the trustees are responslble for the preparatlon of Ihe financlal statements and for belng satisfied that they glve a true and fair vlew, and for such Intemal control as the trustees determlne is necessary to enable the preparation of financlal statements that are free from material mlsstatemenl, whether due to fr8ud or error. In preparing the financlal slatements, the trustees are responslble for assessing th8 charity's abllity to Gontlnue as a golng concern. discloslng, as appllcable, matters related to golng concein and uslng Ihe going concern basls of a¢countlng unless the trust8es ellher intend to cease operatlons, or have no reallstlc altemalive but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements We have been appolnted as audltor under section 144 of the Charltles Act 2011 and report In accordance with the Act and relevant regulallons made or havlng effect thereunder. Our oblectives are to obtaln reasonable assurance about whether Ihe financial slatemenls as a whole are free from materlal mlsslatemenl, whelher due lo fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance Is a hlgh level of assurance but is not a guarantee that an audll conducled in accordance with ISAS (UK) will always detèct a materlal mlsstatement when It exlsts. Mlsstatements can arlse from fraud or error and are considered material if, Indivldually or in the aggregate, they could reasonably be expected lo Influence the economic declslons of users taken on th8 basls of these financlal statements. Irregularitles, includlng fraud, are Instances of non-compllance with laws and regulations. We deslgn procedures In Ilne with our responsibi1Sties, oulllned above, to detect material misstalements In respect of irregularltles, Includlng fraud. The extent to whlch our procedures are capable of detecllng Irregularlties, Includlng fraud, Is detailed below: the engagement partner ensured Ihat the engagement team collectively had Ihe approprlate competence, capabllities and skills to Identify or recognlse non-compllance wlth appllcable laws and regulatlons. we identified the laws and regulallons applicable to thé company through dSscusslons wlth directors and other management, and from our commerclal knowledge and experience of the charity sector,. we focused on speclflc laws and regulatlons whlch we consldered may have a dlrect materlal affect on Ihg flnanoial statements or th8 oparalions of the company. Includlng thè Companles Act 2006, employment and health and safety leglslatlon. we assessed Ihe extent of compllance wilh the law,s and regulallons Idenlilled above Ihrough maklng enqulrles of management and Inspe¢tlng legal correspondence: and Idenllfled laws and regulations were communicated wllhln the audil team regularly and the team remained alert lo Instances ol non-compliance throughout the audit.
THE JD FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE JD FOUNDATION We assessed the susceptibllity of the company's financlal slatements to material misstatement, including obtainlng an understanding of how fraud mlght occur. by.. making enquiries of management as to whare they consldered there was susceptlblllty to fraud, their knowledge of actual. suspected and alleged fraud; conslderlng the int6rnal controls In place to millgate risks of fraud and nonvcompllance with laws and regulations. and understanding the deslgn of the company's rémunerallon pollcles. To address the rlsk of fraud Ihrough management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationshlps; tested journal entries to idenlify unusual transactions. In response to the rfsk of Irregularltles and non-compllance with laws and regL51atlons, we deslgned procedures which Included, bul were not Ilmlted to,. agreeing financlal statement disclosures to undérlying supporting documentation., reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigaÉlon and claims. There are Inherent limitations in our audit procedures described above. The more removed thal laws and regulatlons are from financial transacllons, the less Ilkely it is that we would become aware of non-compllance. Auditing standards also Ilmlt the audlt procedures reoulred to Identify non<ompliance wlth laws and regulations to enqulry of the dlrectors and other manag6ment and the Inspectlon of regulatory and lagal correspondence, If any. Material misstatements that arise due to fraud can be harder to detect than those Ihat arise from error as Ihey may involve deliberate concealment or colluslon. A furlher description of our responslbilities Is available on the Flnanclal Reportlng Council's website al: https:Ilwww.frc.org.uklauditorsresponslbilities. This descrlption forms part of our auditorfs report. Use of our report Thi8 report Is made solely to the charitable company's members, as a body, In accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charltable company's members Ihose matters we are required to state lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslbllity to anyone other than the charitable company and the charitable Company's members as a body, for our audit work. forthis report, or for the opinions we have formed. Davld Kay FCA (Senior Auditor) For and on behalf of Barlow Andrews LLP 13 September 2024 Chartered AcGountants and Statutory audltors Carlylè House, 78 Chorley Naw Road, Bolton BL14BY
THE JD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024 Unrostrlcled Fund5 Dèslgnated Funds Total 2024 Unrestrlcted funds Deslgnated Funds Total 2023 Not85 Incomgfrom: Donatlons 1,584,434 1.037,808 2,622,242 953,829 759,568 1,713,397 Total Income 1,584,434 1,037,808 2,622,242 953,829 759,568 1,713,397 Expendlluie on: Charltable acllvlties (1.034,758) 1242,044) (1,276,802) (574,9251 (194,010) 1768,935) Total 8xpendlture {1,034,758) {242,044) {1,276.802) {574,925} 1194,010) {768,935} Net Income 549,676 795,764 1,345,440 378,904 565,558 944,462 Transfers between funds Net rnovement In funds 549,676 795,764 1,345,440 378,904 565,558 944.462 Fund balances brought foNard 565,558 1,334,427 389,965 389,965 768,869 Fund balan¢es carrled forward 1,318,545 1,361,322 2,679,867 768,869 565,558 1,334,427 The statement of financlal actlvltles also complles wilh the requirements for an Income and expendlture account under the Companles Act 2006. The charlty has no re¢ognl3ed gains or losses olher than the net movement in funds In Iha P8rfod. All results derlve from Continulng aclivltSes. The notes on pages 11 to 16 form part of these financlal Statements.
THE JD FOUNDATION BALANCE SHEET AS A T 31 JANUARY2024 2024 2023, Notes Current Assets Debtors 800,623 1.965,533 2,766,156 518,308 842,156 1,360,464 C8sh al bank and In hand Current Llabilities Creditors (86,289) (26,0371 Total Net Assets 2,679,867 1,334,427 The Funds of the Charity Designated Funds Unrestricted Funds 1,361,322 9 1,318,545 2,679,867 565,558 768,869 1.334,427 Total Charlty Funds The prior ye8r has been reclassffied. Thesè relate lo mlsclasslfled assets whlch havo been recl8ssmed lo the oorreGt flnancial Ilne Ilem. The accounts were approved by Ihe Board of Trustses on 13 September 2024 and signed on ils behalf by: Nicola Kowalczuk, Trustee
THE JD FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 Notes Cash flows from operatlng actlvitie5 Net cash Inflow from operatlng actlvllles 10 1,123,377 473,637 Nèt cash used In Invostlng acllvltles Not ca$h usod in flnanclng actlvltles Nel increase In cash and cash equlvalents 1,123,377 473,637 Cash and cash equlvalenls at beglnnlng of year Cash and cash equlvalents at end of year 842,156 368,519 1,965,533 842,156 io
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 1. Accounting policies The following accountlng policles have been applied conslstently in dealing with Items whlch are consldered matgrlal In rolation to the financial statements. Company Informatlon The JD Foundatlon Is a prlvate company Ilmited by guarantee Incorporated in England and Wales. The reglslered offlce is Edinburgh House, Hollinsbrook Way, Bury, BL9 8RR. Basls of preparatlon The financlal statements have been prepared in accordance wlth the accounling policies set out in note 1 to the financlal statements and comply with Ihe charity's Memorandum and Articles of Associatlon, the Charltles Acl 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing their accounts in accordance wilh the Financial Reportlng Standard applltrable in the UK and RepubllG of Ireland (FRS 102) (effective 1 January 2019)".The charity Is a Public Benefit Entlty as defined by FRS 102. The accounts have departed from the Charlties (Accounts and Reports) Regulatlons 2008 only to the extent requlred to provide a true and fair view. Thls departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the verslon of the Slatement of Recommended Practlce which is referred to in the regulations but which has since been wilhdrawn. The accounts are prepared in sterling, which Is the functlonal currency of the company. Monetary amounts in these flnanclal statements are rounded to the nearest £. The accounts havè been prepared on a golng concern basls and on a hlstoric81 cost basis undar Ihe accrual concept othar than as stated below. Golng conc6rn At the time of approvlng the accounts, the trustees have a reasonable expectallon that the charity has adequate resources to continue in operatlonal existence for the foreseeable fulure. Thus the trustees contlnue to adopt Ihe going concern basis of accounting In preparlng the accounts. There are no materlal uncertalnlles about the charivs ablllty to contlnue to OP8rate. Funds Unrestrlcted fund5 are funds whlch are expendable at the dlscretion of the trustee5 in furtherance of the objects of the charlty. Deslgnaled funds are those which have been set aslde for specific expendllure, al the discretion of the Charity. Incomlng resources These are included In the Statement of Financial Activities (SOFA) when: 1. the charlty becomes legally enlllled to the benefits of use of the resour¢es' 2. an Inflow of economic benefit Is probable., and 3. Ihe monetary value can be measured wilh sufflclent rellabillty. Resources expended Liabilities are recognised as soon as an oufflow of economic benefits is probable. Charltable expenditure comprises those costs Incurred by the charlty In the delivery of its activllies and services for its beneficiaries. It Includes bolh costs that can be allocated directly to such activitles and those costs of an Indirect nature necessary to support them. Grants payable are accounted for when the trustees have accepled a legal or moral obllgatlon and accounted for as resoUrS expended In the Statement of Financial Activities. GovernanGe costs Include costs of the preparation and examination of statutory accounts. Cash and cash equivalents Cash and cash equivalents include cash In hand and deposits held at call with banks.
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 1. Accountlng pollcles {contlnued) Flnanclal Instruments The charity has elected to apply the provlslons of Secllon 11 'Baslc Flnancial Instrumenls, and Section 12 '01her Flnanclal Instruments Issues, of FRS 102 to all of Ils financial Inslruments. Flnancl81 Instruments are recognlsed In tha charlty's balance sheat when Ihe charily becomes pariy to the contractual provlslons of the Instrumenl. Financial assets and liabilltles are offset, wllh Ihe net amounts presented In Ihe financlal statements, when there is a legally enforceable right to set off the recognlsed amounts and there is an inlentlon to settle on a not basls or to realise the asset and settle the liability simultaneously. Baslc flnanclal assets Baslc Ifnanclal assets, whlch Includes cash and b8nk balances, are measured at transactlon prlc8. Olher flnanclal assets Flnancial assets classlfled as other flnanclal assets are slated at falr value with any galns or losses arlslng on remeasurement recognlsed In the statement of financlal actlvltles. Flnanclal assets are derecognlsed only when the contractual rights to the cash ftows from the asset explre or are settled, or when th8 charlty transfers the financlal asset and substantlally all the risks and rewards of ownership to another enllty, or if some slgnificant risks and rewards of ownershlp are retained but control of the asset has transferred lo another party that is able to sell the asset In Ils entlrety to an unrelated thlrd party. Baslc flnanclal Jlabllltles Basic financlal Ilabllltles, which include other credllors, are recognlsed at transa¢tlon price. 2. Income from charttable actlvltles Current year: Unrestrlcted Designated Funds Funds Total 2024 Donallons from JD Sports Fashlon PIC (UK Entities) 1,563,850 201,228 1,765,078 Donatlons from JD Sports Fashlon PIC (European Entities) 201,471 201,471 Donations from Pennles 557,059 557,059 Donations from Size Campaign 78,050 78,050 Donatlons from JD Sports Fashlon PIC staff fundralslng 20,584 20,584 1,584,434 1,037,808 2,622,242 The donatlons made by JD Sports Fashion PIC malnly ralate lo Ihe income generated from the sale of carrler bags in JD Sports stores across England, Scotland, Wales, Northern Ireland and Europe. 12
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 2. Income from charltablo actlvities {¢ontlnued> Prlor year: Unrestrlcted Designated Fund5 Funds Total 2023 Donatlons from JD Sporis Fashion PIC (UK Entitles) Donations from JD Sports Fashion PIC (European Entities) 869,680 140,994 1,010,674 192,398 192,398 Donatlons from Pennles 241,601 241,601 Donatlons from Size Campaign Donatlons from JD Sports Fashlon PIC staff fundralslng 184,575 184,575 84,149 84,149 953,829 759,568 1,713,397 3. Trustees and employees None of the trustees (or any persons connected with them) recelved any remunerallon or beneflis from the charity during the period. The foundatlon had four employees during the year (2023.. Iwo). The employee is employed by JD Sports Fashlon PIC and wage costs are recharg8d to JD Foundatlon. 2024 2023 75.843 Wages and salarles 110,498 4. Related parties and relat¢d party transactlons There were no related party transactions durfng the year ended 31 January 2024 (2023.. none). 5. Expendlture on charltable actlvities Expenditure on charitable activities was primarily charitable donations. During Ihe year, the twst made 86 donatlons (2023: 33) to the Foundation's nominated charilles, in additlon to the quarterly donations to the Mountain Rascue England and Wales and Scottlsh Mountain Rescue. Further donatlons are analysed by sector. 2024 2023 Donatlons 96.631 Mountaln Rescue 173,761 453,013 306,750 Youth 172,025 101.587 Health 64,800 Soclal Servlces 13,251 Educatlon 30,000 43,000 229,344 44,549 Other 1,071,394 657,317 13
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 5. Expenditure on ¢haritablo actlvitles (continued) 2024 2023 Support costs Staff costs (note 3) 110.498 75,843 Other support Costs 89.910 32,775 200,408 108,618 Governance costs Audlt fe88 5,000 3,000 Total charltablo expendlture 1,276,802 768,935 'Other' donatlons Include donatlons for memorlals and fundralslng events. 'Other support costs, Include costs for bank changes and other ml8¢ellaneous costs. 6. Debtors 2024 2023 Prepayments and accrued Income 800,623 518,308 Debtors Include Income due to th8 charity at the period end. 7. Credltors 2024 2023 Accruals and deferred Income 86,289 26,037 Credltors Include expandlture commltted by the charlty bul not paid at the perlod end. 8. Flnanclal instruments 2024 2023 Carrylng amount of flnanclal assets Moasured at amortlsed c08t 2,766,156 1,360,464 Carrying amount of Ilnanclal Ilabllltles Measured at amortised cost 86,289 26,037 14
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 9. Movement in funds Balance brought forward 01.02.23 Balance carrled forward 31.01.24 Current year: Movement In funds Income Expendlture Transfers Deslgnated Funds Mountsin Rescue Organisations {1) Norihorn Ireland Carrier Bag Donations (2) European Carrier Bag Donatlons (3) 44,363 173,761 {173,761) {44,363) 27,467 44,363 71,830 192,398 201,471 393,869 Pennles (41 241.601 557,059 798,660 Size Campaign (5) 87,196 78,050 {68,283} 96,963 Unrestricted Funds 768,869 1,584,434 {1,034,758} 1,318,545 Total Funds 1,334,427 2,622,242 (1,276,802) 2,679,867 Unrestricted funds are represented by total net asseis. Deslgnated funds are funds which the Trustees earmark specifically for the following each year.. (1) Mountaln Rescue Organlsallons receive a spllt of the total carrier bag levy income to help save Ilves in the hills, mountains and moorlands of England, Scotland, and Wales. (2) Northern Ireland Carrler Bag - this money has been ringfenc6d until the end of 2024, wlth a view to provldlng a number of initiatives wlthin these territories In 2025. 13) European Carrier Bag- thls money h8$ been ringfenced until the end of 2024. with a vlew to providing a number of iniliatlves wlthin these territori8s In 2025. These wlll Include versions of JDUP, as well as localised granls given to charitable organlsalions that help us to achieve our global mlsslon. {4) Pennles- this money wi51 be dlstrlbuted to charltlas across the UK. Each charity wlll be nominated by a colleague within JD Group. and distributed as part of our Grant Glvlng programme, in partnershlp wlth Neighbourly, our corporate purpose plattorm. {5) Slze Campaign - our Size? fascla has raised vital money to svpport several Charitles across the UK over the past 12 months. a campaign that we wish to continue to develop. Balance brought forward 01.02.22 Balance carried forward 31.01.23 Prlor year: Movement In funds Income Expendlture Transfers Designated Funds Mounlain Rescue Organisations {1) 140,994 (96,631) 44,363 European Carrier Bag Donations (2) 192,398 192.398 Pannles {3) 241.601 241.601 SIZÈ C2mpglgn14) 184,575 {97,379) 87,196 Unrestricted Funds 389,965 953,829 (574,925) 768,869 Total Funds 389,965 1,713,397 {768,935) 1.334,427 15
THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 9. Movement In funds {continued> Unrestricled funds are represented by total net assets. Designated funds are unrastricted funds which the Trustees aarmark speclflcally for certaln purposes or organisatlons each year. 10. Cash generated from operatlons 2024 2023 Net Income for the year 1,345.440 944,462 Movement In worklng capital: Decrease l {increase) In debtors {De¢rease) I Increase In creditors {282,315) 60,252 {488,641) 17,816 Cash generated from operations 1,123,377 473,637 11. Analysls of net assèts between funds All funds are unrestrlcted in this year and in the previous year. 12. Analysis of changes In net funds The charity had no debt during the year. 16