Registered number: 10404792 Charity number: 1170736
CITY RUGBY FOUNDATION (A Company Limited by Guarantee) UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
RPG CROUCH CHAPMAN LLP Chartered Accountants 40 Gracechurch Street London EC3V OBT
Document Ref: 6MHBF-6HJOK-VCGSE-BKE7E
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2-3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| NotestotheFinancialStatements | 6-12 |
Document Ref: 6MHBF-6HJOK-VCGSE-BKE7E
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024
|Trustees||. A. Burman, Director| |---|---| ||T. J. W. Downing, Director| ||D. D. Harris, Director| ||G. |. Boxall, Director| ||K. P. Yates, Director| |Company registered|| |number|10404792| |Charity registered|| |number|1170736| |Registered office|C/O Laytons Lip 1st Floor| ||Yarnwicke| ||119-121 Cannon Street| ||London| ||EC4N 5AT| |Accountants|RPG Crouch Chapman LLP| ||Chartered Accountants| ||40 Gracechurch Street| ||London| ||EC3VOBT|
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees present their annual report together with the financial statements of the Company for the 1 October 2023 to 30 September 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 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 has been omitted.
Objectives and activities
a. Policies and objectives
The aim of the City Rugby Foundation is to raise funds for charitable causes through rugby related activities in and around the City of London and beyond. Allied to this the Foundation aims to provide opportunities for retired rugby professionals and other ex-professional sports people to garner introductions to the City of London with the aim of establishing careers and businesses following retirement or who otherwise may need help with funding in their post career for health education or employment reasons.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
b. Activities undertaken to achieve objectives
Owing to the pandemic the trustees have not been able to undertake any activities.
Achievements and performance
a. Main achievements of the Company
The company had a deficit £2,074 during the year under review.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The company aims to hold sufficient reserves to allow it to meet its obligations as they fall due.
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Structure, governance and management
- a. Constitution
City Rugby Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) 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 Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company 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 Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
° select suitable accounting policies and then apply them consistently;
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° observe the methods and principles of the Charities SORP (FRS 102); ° make judgments and accounting estimates that are reasonable and prudent; ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Approved by order of _ the members of _ the board of Trustees on
27/08/2025 and signed on their behalf by:
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|. A.Burman (Trustee)
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | |
| Income from: | ||||
| Donations and legacies | 4 | 40,000 | 40,000 | - |
| Investments | 5 | 29 | 29 | 15 |
| Total income | 40,029 | 40,029 | 15 | |
| Expenditure on: | ||||
| Grants provided | 40,000 | 40,000 | - | |
| Charitable activities | 6 | 2,103 | 2,103 | 1,471 |
| Total expenditure | 42,103 | 42,103 | 1,471 | |
| Net movement in funds | (2,074) | (2,074) | (1,456) | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 2,612 | 2,612 | 4,068 | |
| Net movement in funds | (2,074) | (2,074) | (1,456) | |
| Totalfundscarriedforward | 538 | 538 | 2,612 |
The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 6 to 12 form part of these financial statements.
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CITY RUGBY FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 10404792
BALANCE SHEET AS AT 30 SEPTEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Current assets | |||||
| Cash at bank and in hand | 3,058 | 5,158 | |||
| 3,058 | 5,158 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within | |||||
| one year | 9 | (2,520) | (2,546) | ||
| Net current assets | 538 | 2,612 | |||
| Total assets less current liabilities | 538 | 2,612 | |||
| Net assets excluding pension asset | 538 | 2,612 | |||
| Total net assets | 538 | 2,612 | |||
| Charity funds | |||||
| Restricted funds | 10 | - | ~ | ||
| Unrestricted funds | 10 | 538 | 2,612 | ||
| Totalfunds | 538 | 2,612 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 27/08/2025 and signed on their behalf by:
|. A. Burman
The notes on pages 6 to 12 form part of these financial statements.
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. General information
City Rugby Foundation is a private company limited by guarantee incorporated in England and Wales, company number 10404792. The registered office is C/O Laytons Llp 1st Floor Yarnwicke, 119-121 Cannon Street, London, EC4N 5AT.
The company is also a registered charity, charity number 1170736
- Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
City Rugby Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
Based on their assessment of the twelve months from the date on which the balance sheet was signed the trustees are of the opinion that the company is a going concern as it holds sufficient cash reserves. The accounts have therefore been prepared on the going concern basis.
2.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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CITY RUGBY FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
2. — Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs 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 attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 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 three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to 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 at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
2. Accounting policies (continued)
2.8 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. The Company has no other funds.
2.9 Fund accounting
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. However, the trustees are of the opinion that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4. Income from donations and legacies
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | |||
| E | £ | £ | |
| Donations | 40,000 | 40,000 | . |
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
5. — Investment income
| Un- | ||||||
|---|---|---|---|---|---|---|
| restricted | Total | |||||
| funds | funds | |||||
| 2024 | 2024 | |||||
| £ | £ | |||||
| Investment | income | - | local | cash | 29 | 29 |
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2023 | 2023 | |||||
| £ | £ | |||||
| Investment | income | - | local | cash | 15 | 15 |
6. Analysis of expenditure on charitable activities Summary by fund type
| Un- | |||
|---|---|---|---|
| restricted | |||
| funds | Total | ||
| 2024 | 2024 | ||
| £ | £ | ||
| Administrative | expenses | 2,103 | 2,103 |
| Un- | |||
| restricted | |||
| funds | Total | ||
| 2023 | 2023 | ||
| £ | £ | ||
| Administrative | expenses | 1,471 | 1,471 |
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
- — Analysis of expenditure by activities
| Support | Total | ||
|---|---|---|---|
| costs | funds | ||
| 2024 | 2024 | ||
| £ | £ | ||
| Administrative | expenses | 2,103 | 2,103 |
| Support | Total | ||
| costs | funds | ||
| 2023 | 2023 | ||
| £ | £ | ||
| Administrative | expenses | 1,471 | 1,471 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - ENIL).
During the year ended 30 September 2024, no Trustee expenses have been incurred (2023 - £ NIL).
- Creditors: Amounts falling due within one year
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals | and | deferred | income | 2,520 | 2,546 |
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
10. Statement of funds
Statement of funds - current year
| Balance at 30 | |||||
|---|---|---|---|---|---|
| Balance at 1 | September | ||||
| October 2023 | Income Expenditure | 2024 | |||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General Funds- all funds | 2,612 | 40,029 | (42,103) | 538 | |
| Statement offunds - prior year | |||||
| Balance at | Balance at | ||||
| 1 October | 30 September | ||||
| 2022 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| GeneralFunds-allfunds | 4,068 | 15 | (1,471) | 2,612 |
- Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Current assets | 3,058 | 3,058 |
| Creditors due within one year | (2,520) | (2,520) |
| Total | 538 | 538 |
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CITY RUGBY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
11. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Current assets | 5,158 | 5,158 |
| Creditors due within one year | (2,546) | (2,546) |
| Total. | 2,612 | 2,612 |
12. Related party transactions
The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 30 September 2024.
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