R8gist8red number: 10071079 Charity number: 1167276 MATCHROOM CHARITABLE FOUNDATION (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
MATCHROOIA CHARITABLE FOUNDATION (A company limited by guarantee) CONTENTS Page R•f•r•nc• and adminlstratfvo dotsll8 of the Company, its Trustees and Dlroctors and advlsers Trustees. report Trustees. responslbllltles 8tstement Independent audltorfs report on the flnanclal statements Statgment of flnanclal actlvltlos 10 Balance sheel Stalement of cash flows 12 Notes to the flnanclal ststements 13-23
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantea REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND DIRECTORS AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustoos and Dlrectors S J Heam, Chair C L Godding, Trustee C G Hearn, Trust88 E R C Lowy, Trustee J E Ferguson. Trustee W F Barker, Trustee A Le Guevel, Trustee Company roglster8d number 10071079 Charlty reglstered numb8r 1167276 Registered office Mascalls, Mascalls Lane, Gal Warley, Brenlwood, Essex, CM14 5LJ Company secretary W F Barker Chalr SJHeam Independent audltor Barnes Roffe LLP. Chartered Accountants & Statutory Audltor, LeonStOne House. Leytonstone. London. E11 1GA Page 1
MATCHROOM CHARITABLE FOUNDATION IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The trustees present thelr annual ieport together wilh the audlted flnancial statements of the Matchroom Charitable Foundation for the yearperiod 1 July 2023 to 30 June 2024. The Annual report serves the purposes of both a trustg8s' report and a dir8ctors' report undar company law. The trustees confirm that Ihe Annual r8POrt and financial statements of the charitable company comply with the Gurrent statutory requirements, the requirements of the charitable company's governing document and th8 provisions of the Slalemanl of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {effecliv@ 1 January 2019). Since the Company qualifies as small under seclion 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 is not required. Oblectiv•8 and activities Policies and objectives The charity's objectives are to administer and promote granls. awards and donations lo various charities in the United Kingdom from inGome recelved from a percentage of ticket sales to sportlng evgnts In partnership wlth Matchroom Sport Limited. In shaplng our objectives for the year and planning our acts'vilies. the Trustees have consldered the Charfty Cofflmission's guidance on public benefit, including the guidance 'pubSic benefit.. running a charity IPB21'. b. Actlvltles for achlevlng objectlves The Foundation collects £1 from the sale of each ticket to sporting events by Matchroom Sport Limited and its subsidiaries, The Professional Darts Corporation Ltd, World Seriès of Darts Ltd, World Snooker Lld, Matchroom Boxing Ltd and Malchroom Multi Sport Ltd (its Partner Companies) in order to fund its charltable aims. Achlèv8m8ntA And pèrformAneè a. Review of aclivities Within lh8 year w8 have received numerous grants from our cor8 donators, which the Trustees havg then d8cided the r8levant charitable organisalion to gift these incomes to. Flnanclal revlew Financial review During ihe period the charity raised £1,686,015 (2023 - £921,754) in donations and distributed £845,500 (2023 - £597,000) to UK charities. At the year end the charity has reserves of £1,307.097 (2023 - £476.883) thich were held ready for distributlon to selected charities following the agreement of the Trustees. Page 2
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 b. Reservès pollcy The charity does not hav8 a policy in Spect of the retantion of reseNes. The funds retained at the year end are awaltlng completion of the boards proce$s to approve the dlslribution of the relevant grants. As the charlty does not hav8 any staff or slgnSficant ovarhead costs, the need to hold any reserves is not deemed necessary. c. Prlnclpal rlsks and uncertainties The charitls principal risk is ils reliance on the sale of tickets to sporting events by Matchroom Sport Llmited and its subsidiaries, The Professional Darts Corporation Ltd, World Series of Darts Ltd. World Snooker Ltd Matchroom Boxing Ltd and Matchroom Multi Sport Ltd which determines the level of donalions received. Structure, governance and management a. Constitution The company Is r8gistered as a charitab18 company limited by guaranlee governed by its Memorandum and Articles of Association dated 10 March 2016. The company is a registered charity with the Charity Commission with number 1167276. The company registration number is 10071079. The principal address of the charily is Mascalls, Mascalls Lane, Great Warley, BrenoOd, CM14 5LJ. The company was incorporated on 18 March 2016. b. Methods of appolntment or election of trustees The appointment of Trustees is the responsibility and subject to the approval of the Trustees under the terms of the Articles of Association. Training of truste08 The tnjstees are regularly provided with any new guidance released and extemal courses are available and can be attended where deomed necessary. Page 3
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure, gov8rnance and management (CONTINUED) c. Organlsatlonal stru¢tur6 and de¢lslon-maklng pollclos S J Hearn - Chair, Director & Trustee W F Barker- Director & Secretary lappolnt8d 24 June 2024) J E Ferguson - Director & Trustee C L Godding - Director & Truslee C G Hearn- Director & Trustoe E R C Lowy- Director & Trustee A Le Guevel - Director & Trustee (appointed 24 June 20241 S J Hearn has been appolnted as the chalr and has been glven the responslbility to manage the Charity on a day-lo-day basi5. Supported by Ihe directors and truslees she continues to build relationships and liaise wlth those organisations that the Charity continu8s to support. Th8 Chalr Is supported by the Secretary, W F Barker, who provides adminstralive supporL. Grant making policy Grant making policy and strategy remain5 With the boa/d. The trustees discuss and agree on the grants lo be made based on their individual merits at each board meeting. Plans for future perlods The plan for future periods is to continue to obtain the donations from ticket sales made in order to fund its charitable aim5. The inlentlon golng forward Is lo Increase tha grants provided as cashflows and one-off donations permit. Small companles note saclion 415A of th8 Compani8s Act 2006. Dlsc108ure of Informatlon to audltor Each of Ihe persons who are trustees at the time when this Trustees, report is approved has confirmed that: so far as that trustee is aware, there is no relevant audit information of which the CharItS auditor is unaware, and thal trustee has taken all the steps Ihat ought to have bgèn tak8n as a trustee in order to be aware of any relevant audit informalion and to establish thal Ihe Charity's auditor is aware of that information. Approved by order of the members of the board of trustees and signed on their behalf by= W F Barker {Trusteel Date: 26 February 2025 Page 4
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2024 The trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practl¢&). Company law reqUIS the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfièd that they giv8 a true and fair vi8W of the state of affairs of the Company and of its incoming resources and application of resources, including its ncome and 8xp8ndilur8, for that p8riod, In preparing these flnanclal statements, th8 trust888 ar8 r8quired to.. select sultable accounting poll¢Ses and Ihen apply them ¢ons15tently', observe the methods and principles of the Charities SORP IFRS 102)., make judgments and accounting eslimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject lo any material departures disclosed and 8xplained In the financial statements., prepare the financial statements on the going concern basis unless it is inappropriat8 to presume Ihat the Company wlll continue In business. The tru5tee5 are responsible for keeplng adequate accountlng records that are sufficient to show and explaln the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable tham to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Cornpany and hence for taking 18asonable steps for the prevention and detaclion of fraud and olh8r irreguSarilies. Approved by order of the members of the board of trustees and signed on its behalf by.. IV T 56trkEP W F Barker Date: 26 February 2025 Page 5
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantèe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION Oplnlon We have audited the financial statements of Matchroom Charitable Foundation (the 'charitable company,) for the year ended 30 June 2024 which comprise the Slaloment of financial activities, the Balance sheet, the Slalement of cash flows and the related notes, including a summary of significant accounting poliGies. The financial reporting frarn8work that has been appli8d in their preparation is applicable law and United Kingdom Accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepled Accounting Pr8Cticel. In our opinion the financial statements.. give a true and fair view of the slate of the charitable companys affairs a5 at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; hAvp. beftn pmpp.rly prp.parp.d In apcordance with United Klngdom Generally Accepted Accounllng Pr8Ctlce; and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordancè with International Standards on Auditing IUKI11 SAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audil of Ihe financial slalemenls section of our reporl. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financi81 Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibllllles In accordance with these rÈqulremenls. We believe that the audll evldence we have oblalned Is sufficient and appropriate lo provide a basis for our opinion. Conclu$lon$ relatlng to golng concern In audlting the financial statements, we have concluded that the trustees, use Df the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforrned, we have not identified any material uncertainties relating lo event5 or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of at least e1ve months frorn when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respecl to going concern are described in the relevanl seclions of this report. Page 6
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantèa INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION ICONTINUED) Oth8r informatlon The other information comprises Ihe Information includad In thè Annual report other than th& financial statemants and our Auditor's report thereon. The Irustees are responsible for the other information conlained within the Annual report. Our opinion on Ihe financial stalemènls does not cover the other information and, exc8Pt to the extent otheiSe explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knoedge obtained in the course of the audit. or otherwise appears to be materially misstated. 11 we identify such material inconsislencies or apparent material misstatements, we are requlred to determine whether this gives rise lo a material misstatement In the financlal statements themselves. If. based on Ihe work we have performed, we conclude that there is a malerial misstat8ment of this other Information, we are required to report that fact. We have nolhing to report in this regard. Opinion on other mattors prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in Ihe course of the audit: the information given in the Trustees, report which includes the directors, report prepared for purposes of company law, for Ihe financial year for which th8 financial statements are pr8pared is consistenl with the financial stalaments. the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Malters on which we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not idenlified material misstatements in the directors, report included within the Trustees, report. We have nolhing to report in respect of the following malters in relation to which Companies Acl 2006 requires us to report to you if, in our opinion.. adequate accounting records have nol been k8Pt, or returns ad8qual8 for our audil have not be8n received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of truste8s' remuneration specifipd by18w are not mad9', or we have not received all the infomiation and explanations we require for our audit., or the trust88s were not entitled to prepare the financial statements in accordance with the small companies regime and lak8 advantage of the small companies, exemptions in preparing the Truslees. report and from the requirement to prepare a Strateglc report. Page 7
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION ICQNTINUED Responslbllities of trustees As explained more fully In the Trustee5' respon5ibilitles statement, th8 trustees Iwho are also the directors of the chariiable company for the purposes of company lawl are responsible for the preparation of the financial statements and for b@ing satisfied thal they give a true and fair view, and for such internal control as the trusteès detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees ar? responsible for assessing the charitable companls ability to continue as 8 going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic allernalive but to do so. Audltor's respon51bllltles for the audlt of tha flnanclal statements Our objectlV8s are lo obtain reasonable assurance 8bout whether the financial statements as a whole are free frorn matenal misstatément, whether due to fraud or error. and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audit conducted in ar,cordance with ISAS (UK) will always dalecl a material misstatement when il exists. Misslalemenls can arisa from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalemenls. Irregularitie5, including fraud, are instances of n0CoMpliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting Irregularities, including fiaud is detailed below.. Our approach lo identifying and assessing the risks of material misstaiement in respect of irregularilies, including fraud and non-compllanc8 Wlth laws and r8gulatlons, was as follows.. Ensuring that the engagement team collectlvely had the 8ppropri81e competence, capabililles and skills to identify non-compliance with applicable laws and regulations., We identified the laws and regulations applicable to the Company through discussions with directors, and from our commercial knowlgdge and experience of the relevant sector., The specific laws and regulations which we considered may have a direct material effect on the financial statements or the op8raliDns of thg Company, ara as frjllows - CompaniFJS Art 2QQ6, FRS 102, Charities Ae.t 2011 and Tax legislation. We assessed the extent of the compliance with the laws and regulations identified above through making enquiries of management and inspecting legal Gorrespondence. Laws and regulations were Communicated within the audit team at the planning meeting, and the audit team remained alert to instances of non-compliance throughout the audil. We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud mighl occur, by.. Making enquiries of management as lo Wha they considered there was susceptibility to fraud, their knowledge of actual, suspected 2nd alleged fraud; Considering the Internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations., Reviewing the financial statements and testing the disclosures against supporting doGumentation,' Page 8
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION ICONTINUED) Performing analytical procedu$ to identify any unusual or unexpected trends or anomalies. Because of thè inherent limitations of an audit. there is a risk that we will not delect all irregularities, including those leading to a material misstatement in the financial stalements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the flnancial slalemenls. as we will be less likely to become aware of instances of non-compliance. The risk is also greater gardIng irregularities occurring due to fraud r8ther than error, as fraud involves int8ntional concealment. forgery, colluslon, omission or misrepresentatlon. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's w8bsile al: www.frc.or .ukl8udilorsrp.s on%ibililies. This description forms part of our Auditorfs report. Othar matters In the previous accounting period the Company was granted th8 small charitable companies audit exemption. Therefor8 the prior period financial statements were not audited. Use of our report This 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 might state to the charitable company's members Ihose matters we are requirad lo slate to them in an Auditor's report and for no other purpose. To the fullesl extent pemiitted by law, we do not accept or assume responslbilily to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we hava formed. Mehmet Hu88oln {FCA> (Senlor statutory audltor) for and on behalf of Barnes Roffe LLP Chartered Accountants statutory Auditors Chartered Accountants & StatutoryAuditor Leytonstone House Leytonstone London E11 1GA 26 February 2025 Date.. Page 9
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 Total funds Unaudited 2023 Unrestricted funds 2024 Total funds 2024 Note Income from: Donations Investments 1,686,015 1,686,01S 921,754 3,960 Total income 1,686,015 1,686,015 925,714 Expenditure on: Charitable activities.. Support costs Other charitable activities 10.301 845,500 10.301 845,500 6.888 597,000 Total expenditure 855,801 855,801 603,888 Reconciliaiion of funds: Total funds brought forward Net mov8ment in funds 476,883 830,214 476.883 830,214 155.057 321,826 Total funds carried forward 1,307,097 1,307,097 476,883 The notes on pages 13 to 23 form parl of these financial statements. Page 10
MATCHROOM CHARITABLE FOUNDATION (A company Ilmited by guarantee) REGISTERED NUMBER: 10071079 BALANCE SHEET AS AT 30 JUNE 2024 Unaudited 2023 2024 Note Current ass6ts Cash at bank and in hand 1,315,497 481,923 Creditors.. amounts falling du@ within one year 18.400) (5,040) Net current assets 1,307,097 476.883 Total assets less current Ilabllltles 1,307,097 476,883 Total net assets 1,307.097 476,883 Charity funds Unrestricted funds 10 1,307,097 476, 883 Total funds 1,307,097 476, 883 The trustees acknowladgé thèir rèsponsibili116s for complying with the requirements of th8 Act with respect to accounting records and preparalion of financial statements. The financial statements have been prepared in accordance with the provlsions applicable to entities subject to the small companies regime. The financial ststements were approved and authorised for issue by the Irustees on 26 February 2025 and signed on thelr b8half by: F Eatk8 W F Barker Truslee The notes on pages 13 to 23 form part of Ihese financial statem@nts. Page11
MATCHROOM CHARITABLE FOUNDATION (A ¢ompany Ilmited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 Unaudited 2023 2024 Cash flows from operating actlvttlos Net cash used in operating activities 833,574 357,969 Cash flows from Investlng actlvltles N•t cash provided by investing activiti•s Cash flows from flnanclng actlvltles Net cash provlded by frnanclng actlvltles Change In cash and cash equivalents in the year Cash and cash equivalenls at Ihe beginning of the year 833,574 357,969 481,923 123,954 Cash and cash equivalent5 at the end of the year 1,315,497 481,923 The notes on pages 13 to 23 form part of these flnanclal statements Page 12
MATCHROOM CHARITABLE FOUNDATION (A company limited by guaranteè NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been pr8pared in 8word8nGe with the Charities SORP (FRS 1021 Accounting and Reporting by Charilios.. Slalemenl of Recommanded Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Matchroom Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otheNise stalèd In thè relevant accounting policy. 1.2 COMPANY STATUS Malchroom Charitable Foundation is a company limited by guaranlee, incorporated in England and Wales. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respecl of Ihe guarantee is limited lo £10 per member of the company. Ils regislored office 15 Masca115, Mascalls Lane, Great Warley, Brentwood. Essex, CM14 5LJ. 1.3 GOING CONCERN The Iru5tees consider that there are no material uncertain118s about the Charity s ability lo continue as a goir)g concern. Accordingly, they continue to adopt the going concern concept in preparing these financial statements. 1.4 INCOME All income is r@cognlsed once the Company has enlltlement to the Sncome, It Is probabl8 that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Grft Aid or deeds of covenant is recognised at the time of Ihe donation. Income tax recoverable in relation to investment income is recognised at the time the investment Incomo is receivable. 1.5 EXPENDITURE Expenditure is r8cognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and Ihe amount of the obligation can be measured reliably. Expenditure is classified by 8Ctivily. The cosls of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs atlribulable to a single activity are allocated directly to that activily. Shared costs which contribute lo more Ihan one activity and support costs which are not attributable to a single activity are apportioned between Ihose activities on a basis consistent wilh the use of resources. Central staff costs aro allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Cosls of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Page13
MATCHROOM CHARITABLE FOUNDATION (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (CONTINUED} 1.5 EXPENDITURE (CONTINUED) Charitable activities and Govemance costs are costs incurred on the company's educational operations, including support costs and costs relating lo the governance of th8 company apportioned to charitable activities. Grants payable are charged in the year when the offer is made except. in those cases where the offer is conditional, such granls being recognised as expenditure when the conditions attached are fulfilled. Grants offered subject to conditions whlch have not been met at the year end are noted as a commilmenl, but not accrued as expenditure. 1.6 INTEREST RECEIVABLE Inlerest on funds held on deposit is included when receivable and the amount can be measured reliably by Ihe Company; this is normally upon notificalion of ihe inlerest paid or payable by the Bank. 1.7 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and 5hort-term highly liquid investments wilh a short maturlty of Ihrge months or less from the data of acqulsltion or openlng of th8 daposit or similar accounl. 1.8 LIABILITIES AND PROVISIONS Liabililies are recognised when there is an obligation al the Balance sheet date as a resull of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the seltlement can be estimated reliably, Liabilities are recognised al the amount that the Company antlClP3tes il will pay to settle the debt or the amount it has roceived as advanced paym8nls for the goods or services It must provide. Provisions ar8 measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate Ihat reflects the risks specific lo the liability. The unwinding of the discount is recognised within inlerest payable and similar charges. 1.9 FUND ACCOUNTING Genaral funds are unrestricted funds whlch are available for use at the discretion of the truslees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Pag8 14
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantée NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 INVESTMENT INCOME Total funds 2024 Investment income - cash Unreslricted Total funds funds Unauditsd Unaudited 2023 2023 Investment income- cash 3,960 3, 960 Page15
MATCHROOM CHARITABLE FOUNDATION (Aeompany limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF GRANTS Grants to Institutions 2024 Total funds 2024 Grants to Welfare charities 845,500 845,500 Grants to Institutions Unaudited 2023 Tot81 funds Unaudiled 2023 Grants to welfare charities 59T, 000 597,000 Page16
MATCHROOM CHARITABLE FOUNDATION (A company limited by guaranteè NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF GRANTS (CONTINUED) The Company has made the following material grants to institutions during the year.. Unaudited 2023 2024 NAME OF INSTITUTION Alexandra Park and Palace Chariiable Trust Salnt Francis Hospice The Eden Dora Trust Kids Inspire REACH Newlife MNCC Changing Faces The Jessie May Trust Haven Hous8 Chlldren's Hosplce Handicapped Childrens Action Group Addenbrooke's Charitable Trust BLESMA Thurrock Youth Zone Barking & Dagenham Youth Zone Paces Sheffield Special Needs and Parents Limited Strongbon&s Children's Charitable Trusl Thr Roth&rh8m Hospllal and Community Charlly 60,000 50,000 60,000 50,000 35,000 20,000 25,000 30,000 84,000 30,000 30, 500 87,500 10,000 100,000 30.000 20,000 55,500 50,000 100,000 300,000 50,000 25,000 30,000 20,000 25,000 785,500 592,000 Olher grants to insitutions 60,000 5,000 845,500 597.000 Page 17
MATCHROOM CHARITABLE FOUNDATION IA company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Unrnstricled funds 2024 Total 2024 Support C08ts Grants 10,301 845,500 10,301 845,500 TOTAL 2024 855,801 855.801 Unrestricted funds Unaudited 2023 Total Unaudited 2023 Support costs Grants 6, 888 597, 000 6,888 597,000 TOTAL 2023 603,888 603,888 ANALYSIS OF EXPENDITURE BY ACTIVITIES Grant funding of activities 2024 Support costs 2024 Total funds 2024 Support costs Grants 10,301 10,301 845,500 845,500 TOTAL 2024 845,500 10,301 855,801 Page 18
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) Granl funding of activilies Support costs Unaudited Unaudited 2023 2023 Total funds Unaudiled 2023 Support costs Grants 6,888 6, 888 597,000 597,000 TOTAL 2023 597,000 6,888 603,888 ANALYSIS OF SUPPORT COSTS Support costs 2024 Total fund5 2024 Bank charg85 Ch8rlty insurance Audit fee Govemance Annual return fee Other administrative costs 229 1,659 8,160 13 240 229 1,659 8,160 13 240 TOTAL 2024 10,301 10,301 Total funds Unaudited 2023 Support costs Unaudited 2023 Bank charges Charlty insurance Govemance independent examination fee Govemance annual retum fee Other administrative costs 214 1,621 4,800 13 240 214 1.621 4,800 13 240 TOTAL 2023 6,888 6,888 Pege 19
MATCHROOM CHARITABLE FOUNDATION (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 AUDITOR'S REMUNERATION The auditorfs remuneration amounts to an auditor fee of £8,160 (2023- £4,800). STAFF COSTS The averag& number of persons employed by the Company during the y8ar was as follows: Unaudited 2023 2024 Directors Employees No employ88 r8ceived remun8ratlon amountlng to more than £60,000 in 8lth8r year. NET INCOMEI(EXPENDITURE During the y8ar, no trustees r8ceivèd any remuneration or other benefits (2023 - £NIL). During the year ended 30 June 2024, no trustee expenses have been incurred (2023- £NIL). CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Unaudited 2023 2024 Accruals and deferred incom8 8,400 5,040 Page 20
MATCHROOM CHARITABLE FOUNDATION IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 10. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 July 2023 Balance at 30 Expenditure June 2024 Income UNRESTRICTED FUNDS General Funds- all funds 476,883 1,686,015 1855,801) 1,307,097 STATEMENT OF FUNDS - PRIOR YEAR Balance at l July 2022 Balance at Expendituré 30 June 2023 Incom8 UNRESTRICTED FUNDS General Funds- all funds 155,057 925, 714 (603, 888) 476,883 SUMMARY OF FUNDS SUMMARY OF FUNDS - CURRENT YEAR Balance at 1 July 2023 Balance at 30 Expenditure June 2024 Income General funds 476.883 1,686,015 1855,801) 1,307,097 SUMMARY OF FUNDS - PRIOR YEAR Balance at l July 2022 Balance at Expendlture 30 June 2023 Incom8 General funds 155.057 925,714 (603, 888) 476,883 Page 21
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD Unrestricted funds 2024 Total funds 2024 Currenl assets Creditors due within one year 1,315,497 1,315,497 18,400) {8,400) TOTAL 1,307.097 1,307,097 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD Unrestricted funds 2023 Tolal funds 2023 Current assets Creditors due within one year 481,923 (5. 040) 481,923 (5,040) TOTAL 476, 883 476,883 13. RELATED PARTY TRANSACTIONS The charSty received don8tlons of £345,020 (2023 - £301,222) from companles of whlch some of the Trustee$ are also directors. The charity received donations of £1,250,000 (2023 - £562,500) from an individual who Is connected to the Trustees of Ihe charily. The are no terms and Conditions attached to the above related party transactions. Page 22
MATCHROOM CHARITABLE FOUNDATION (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2Q24 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 14. ACTIVITIES Unaudited 2023 2024 Net Income for the period las per Statement of Financial Activities) 830,214 321,826 ADJUSTMENTS FOR: Investment income Decrease in debtors Increase In credllors (3, 960) 40, 103 3,360 NET CASH PROVIDED BY OPERATING ACTIVITIES 833,574 357,969 15. ANALYSIS OF CASH AND CASH EQUIVALENTS Unaudited 2023 2024 Cash In hand 1,315,497 481,923 16. ANALYSIS OF CHANGES IN NET DEBT At 1 July 2023 At 30 June 2024 Cash flows Cash at bank and in hand 481,923 33,574 1,315,497 481.923 833,574 1.315,497 Page 23