REPORT OF THE TRUSTEES **&** AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 **FOR** **The Russell Martin Foundation (A Company Limited by Guarantee)** # **2021 -2022** **REGISTERED COMPANY NUMBER: 10473815 (England and Wales) REGISTERED CHARITY NUMBER: 1174134** **Contents** of the Financial Statements for the Year Ended 31 August 2022 Reference and Administrative Details 1 Report of the Trustees 2-8 Report of the Independent Auditors 9-12 Statement of Financial Activities 13 Balance Sheet 14 Cash Flow Statement 15 Notes to the Cash Flow Statement 16 Notes to the Financial Statements 17-27 Detailed Statement of Financial Activities 28-29 **----- Start of picture text -----**
Education
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Health
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Football
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**Reference and Administrative Details** for the Year Ended 31 August 2022 1 ## **TRUSTEES** R K A Martin N Young G Peters (resigned 30.6.22) A H Batchelor K Watson R Bradford K Mercer (appointed 1.7.22) ## **REGISTERED OFFICE** Bank House Southwick Square Southwick West Sussex BN42 4FN ## **REGISTERED COMPANY NUMBER** 10473815 (England and Wales) ## **REGISTERED CHARITY NUMBER** 1174134 ## **INDEPENDENT AUDITORS** West & Berry Limited Chartered Certified Accountants Mocatta House Trafalgar Place Brighton East Sussex BN1 4DU ## **ACCOUNTANTS** Style and Silver Bank House Southwick Square Southwick West Sussex BN42 4FN **Report** of the Trustees 2 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objects are for the benefit of the public generally, both in the UK and overseas and, in particular, the inhabitants of Brighton, East Sussex and its surrounding areas: - to promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health (facilities in this means land, buildings, equipment and organising activities); - to advance the education (including academic, social and physical education) of such people through such charitable means as the Trustees think fit; - to encourage children and young people to participate in the game of association football, other leisure-time activities and educational activities so that they might grow to maturity as individuals and members of society and so that their conditions of life may be improved; - for the general purposes of such charitable bodies or for such other exclusively charitable purposes in each case as the Trustees may from time to time decide. ## **Our Vision** - For the local community to prosper. **Our Mission Statement** - Using the power of football to empower individuals to improve their lives and their environment. **Our Values** - Opportunity Inclusivity Quality Sustainability For greater detail please vist our website at www.russellmartinfoundation.co.uk ## **Aims and significant activities** The Russell Martin Foundation is a non-profit organisation based in Brighton & Hove which uses the power of football to help change people's lives. It was set up by professional footballer Russell Martin who wanted to give something back to the city where he was born. ## **Public benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. **Report** of the Trustees 3 ## **ACHIEVEMENT AND PERFORMANCE** ## **Message from Russell Martin, Founder and Chair of the Board of Trustees** I'm so proud of everyone for what we have achieved during 2021-22. Because of everything that has gone on in the world, we weren't sure what the year would look like for the Foundation. Thanks to everyone's hard work and commitment however, we have so much to look forward to. We are looking to extend our football provision into more college programmes, taking on more young footballers into the Russell Martin Academy and building on the success of the girls' tournament. We also had the progression of our brand new site at Old Barn Way and whilst it's a slow process, we are excited about what we can create for the community there. We have been supporting the advancement of our disability department and the exciting progression within our education centres which have had a huge impact upon the students who attend them. Everyone at RMF sprung into this year with ambition, enthusiasm and commitment to help us grow and improve on what we do. We are all very excited about the future. ## **Message from Alan Sanders CEO** I am delighted that the past 12 months has shown a growth of income which follows a similar trend over the previous 4 years. Our overall turnover has risen from £715,568 to £1,122,708 (an increase of over 57%). In addition, as in 2020-21, this was despite of Covid-19. It is pleasing that our football and education programmes have grown in equal measure both in terms of breadth and geographical provision. The notable successes were our development of the football pathway, the post-16 programme and again our boys' and girls' tournaments which catered for over 1000 players with the latter tournament a reflection of the interest shown with Women's Euros. From an education perspective we were delighted to open another centre, this time in Chichester, as our respite alternative provision continues to grow and this has increased the number of secondary schools we are currently working in partnership with to 23. ## **CHARITABLE ACTIVITIES** ## _This year at a glance_ ## **Russell Martin Academy (RMA)** The RMA has developed its provision significantly over the past few years, with 2021/22 being no exception. The Covid lockdown did nothing to curb the demand for our football provision as we worked towards reducing the waiting list. For this year we catered for nearly 600 regular paying members with over 100 paying for 1-1 sessions. The services we provided were: - A regular fixtures programme for our Performance Development Centre against professional club teams - RMA Play series - internal fixtures between our 4 centres - A Talent ID programme - Fixtures against grassroots teams - Strength and Conditioning programmes for Year 7 - Year 11 students - Saturday mornings for Reception class - Year 6 - Free Kicks Programme for Girls (see below) - Post-16 programme (see below) ## **After school clubs** For 2021/22, we have concentrated on increasing the provision within the 9 primary schools we partner with. This has included supporting pupils during curriculum time in multi-sport activities such as gymnastics, hockey and basketball as well as after school football clubs for boys and girls. **Report** of the Trustees 4 ## **Holiday Courses** Our holiday camps went from strength to strength during these twelve months. We delivered a variety of initiatives including; general holiday courses (open to all), Christmas Cup (internal competition), girls only courses, goalkeeping camps, RMA Play (internal fixtures), nutritional workshops, RMA days (invitation only). These activities took place within the Brighton & Hove conurbation as well as mid-Sussex and the numbers attending the courses have either been equal to or exceeded previous years. ## **Girls** We are particularly proud of the progress we have made in developing our football provision for girls with over 80 registered for our centres in Burgess Hill and Portslade. In June we also introduce the 'Free Kicks' programme which is free to play throughout the year. For this we were able to use the UEFA Women's Euros 2022 to encourage participation. ## **Post 16 programme** Our Varndean College football programme has gone from strength to strength as we have had record numbers applying and excellent retention levels of students completing the course. In addition for a relatively small further education/sixth form college, we had outstanding success in national competitions reaching the quarter finals in both the Under 18 and Under 19 tournaments. It has been so successful that we have been invited to run a similar programme at Shoreham Academy for 2022-23. ## **Disability** We were finally able to set up our disability department with a grant from the Sussex Community Foundation. This project had been delayed by nearly two years due to Covid. The grant enabled us to provide sessions at a day centre and 3 schools. One school in particular had been struggling to find any activities for their more severely disabled children. We were able to engage with children and staff to ensure they got the most out of any sport/activity we were providing. We were able to use a range of equipment to provide something for every child. During the pandemic the children had very little contact with anybody other than school and relatives/carers. We concentrated on helping strengthen muscles, encourage fine motor skills and improving social interaction. The project helped the school with their physical education especially with the children who had more complex disabilities. For the centre we were able to help the adults build confidence in understanding what their bodies could do. We were also able to help the carers understand and learn some of the activities and this meant the carers were able to deliver the sessions themselves to the beneficiaries. Overall the project was a massive success and we look forward to developing our disability provision from this. This was summed up by a PE co-ordinator at one of the schools; 'As a school we were extremely happy and thankful for the fantastic sessions provided' ## **Tournaments** We are extremely proud of the summer tournaments we have been able to deliver in partnership with Burgess Hill Town FC Juniors. We have 120 teams enter our boys' tournament and 104 teams for our girls' tournament, with over 1,000 participants involved for each. We believe the girls' tournament is one of the biggest in the UK. **Report** of the Trustees 5 ## **Extra Time - Brighton** Our Brighton Extra Time Project has now been running since September 2019 and we are really pleased that all 10 secondary schools in Brighton & Hove work in partnership with us on this initiative. Our aim is to support the students who are facing difficulties with mainstream education for a whole host of different reasons. Some of these students need some individual attention and mentoring to help them cope with some minor difficulties. However, others have complex needs and require support from our staff and support services. Once back in their own schools, after spending 12 weeks with us, we then continue to monitor and support them for up to a year. Highlights for this year have been visits to the local history museum, the Phoenix Art Gallery and the FMG Gym. Thank you to Donatello Restaurant which has sponsored and supported the centre since the start. ## **Extra Time - Chichester** We were delighted that following the request of the local authority, we were able to open a new centre in Chichester. For this inaugural year, 8 schools signed up to send selected students to the 12 week programme and we were delighted that we were able to support over 50 students get back into mainstream schools. Highlights for the year included regular visits to the Westgate Leisure Centre and visits to the Novium Museum, the Chichester Ship Canal and a boat trip along the Chichester canal. ## **Extra Time - Worthing** The Worthing centre has now completed its second year in operation, and is supported by the local authority and 5 local secondary schools. The centre was praised by Ofsted as part of their inspection of one of the partner schools, for the support we have been able to give to the students who have been referred to us. The head teacher said that the Extra Time Project 'has clearly played a key part in supporting the young person to get back on track' ## **Holiday Activities Food Programme** The government-funded programme was delivered by RMF in Brighton, Newhaven and Worthing during different holiday periods. The attendance of young people on free-school meals varied at these programmes which made prediction of staffing levels challenging. However, as a registered charity we are strongly in favour of this initiative as we look to support children from low income backgrounds. ## **Hove 3G** Since we started to manage the Hove Park 3G in May 2018, our main aim was to make the facility as accessible possible to the local community. We have delighted with the response and now we are often fully booked on week day evenings and throughout the weekend. For this year we have had 3,056 bookings from 489 individual users and these user include local teams, businesses, schools and just groups of friends ## **Old Barn Way** Having been awarded the lease for Old Barn Way (ex-home venue of Southwick Football Club) in early 2020, we have spent a great deal of time ensuring the ground safe and fit for purpose. The first stage was to provide a grass pitch that was suitable to play on and the second stage, in conjunction with Adur District Council, the Sussex FA and the Football Foundation, to plan for a new clubhouse and artificial pitch. For 2021-22 Adur District Council supported this process with a £50,000 grant. **Now** **Future** **Old Barn Way** **Report** of the Trustees 6 ## **FINANCIAL REVIEW** ## **Financial position** The results for the year reflect the easing of Covid restrictions and are as follows: total income for the year was £1,122,708 (2021: £715,568) and of this, £507,614 (2021: £217,093) related to restricted income. Expenditure for the year was £1,137,488 (2021: £687,788) and of this £490,704 (2021: £214,379) was restricted expenditure. There was an overall net deficit for the year of £(14,780) (2021: net surplus £27,780) and this was made up of a net deficit on unrestricted funds of £(31,690) and a net surplus on restricted funds in the year of £16,910. Unrestricted reserves carried forward at the 31st August 2022 was £59,135. ## **Reserves policy** It has been the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level would ensure that, in the event of a significant drop in funding or an event such as the Covid-19 pandemic, will ensure the charity's ability to continue its current activities while consideration is given to ways in which additional funds may be raised. The charity is currently building up its level of unrestricted reserves to meet this target. Unrestricted reserves at the year end were £59,135 (2021: £90,825) and restricted reserves at the year end were £19,625 (2021: £2,715). ## **FUTURE PLANS** We have now written a strategy for 2022-25 and although we see 2022-23 a year of consolidation, our future plans over the three year period are to meet the needs of the local population by: ## **Football** - To expand our football training pathway for young people - To provide a range of inclusive programmes that provide opportunities for all - To build and facility manage a clubhouse and 3G pitch at Old Barn Way, Adur and explore opportunities to manage others within Sussex ## **Education** - We will focus on encouraging pupils to engage with secondary school education - We will target the reduction of exclusion rates in our partner schools - We will deliver a range of suitable level adult accredited courses for the local community Health - Mental health wellbeing will be fundamental within all of our programmes for young people. - We will include smoking cessation as key area for all education programmes - We will address a some of the needs of local inhabitants by offering a range of healthimprovement programmes Of course none of this could happen without working in close collaboration with local organisations, particularly, the primary and secondary schools, the local authorities, the Sussex FA and of a whole range of sponsors and funders. Finally, this is an ideal opportunity to thank our valued trustees who have helped us throughout the year. **Report** of the Trustees 7 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Russell Martin Foundation is a charitable company limited by guarantee and is registered in England and Wales. It was incorporated on 10th November 2016 (company number 10473815) and registered as a charity with the Charity Commission on 4th August 2017 (charity number 1174134). It is governed by its Memorandum and Articles of Association, which describes the objects and powers of the charity. ## **Recruitment and appointment of new trustees** Trustees are recruited on the basis of their existing relevant knowledge to ensure a good range of skills are covered by the board of trustees as a whole. Information relating to The Russell Martin Foundation is provided ahead of any appointment and training, including safeguarding training provided to trustees. The Board oversees the charity and the day-to-day management is delegated to Dr Alan Sanders (CEO) and the senior management team. Remuneration of key management is set in conjunction with the trustees. None of the trustees has any beneficial interest in the charity. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date that the financial statements were approved were as follows: R K A Martin N Young G Peters (resigned 30/06/22) A H Batchelor K Watson R Bradford K Mercer (appointed 01/07/22) ## **Risk management** The trustees are responsible for overseeing the risks faced by The Russell Martin Foundation. Risks are identified and assessed throughout the year. The trustees are satisfied that any major risks have been adequately mitigated where necessary and have undertaken an overall risk assessment. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of The Russell Martin Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. **Report** of the Trustees 8 ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** - _continued_ The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, West & Berry Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on .....26/04/2023...... and signed on its behalf by: ............................................. R K A Martin - Trustee **Report** of the independant Auditors 9 ## **Opinion** We have audited the financial statements of The Russell Martin Foundation (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. **Report** of the independant Auditors 10 ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Corresponding figures and comparative financial statements** In the previous accounting period, the trustees of the charity took exemption under section 477 of the Companies Act, therefore the prior period financial statements were not subject to audit. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and - the directors' report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been 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 trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 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 are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. **Report** of the independant Auditors 11 ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise 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 statements. Irregularities, including fraud, are instances of non-compliance 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 fraud, is detailed below. The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Charities SORP (FRS 102), Companies Act 2006, and safeguarding legislation including Safeguarding Vulnerable Groups Act 2006 (SVGA). - We obtained an understanding of how the charitable company is complying with the legal and regulatory frameworks by making inquiries to management. - We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: - identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud; - understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; - made enquiries with management, including consideration of known or suspected instances of fraud or non-compliance; - assessing the extent of compliance with the relevant laws and regulations. - challenging assumptions and judgments made by management in its significant accounting estimates; - identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; - performed analytical procedures to identify any unusual or unexpected relationships; and - investigated the rationale behind significant or unusual transactions. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise non-compliance. **Report** of the independant Auditors 12 ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with 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 those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Michelle Westbury FCCA (Senior Statutory Auditor) for and on behalf of West & Berry Limited Chartered Certified Accountants Mocatta House Trafalgar Place, Brighton East Sussex, BN1 4DU Date: .....19/04/2023....... **Statement of Financial Activities** 13 (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2022 ## **CONTINUING OPERATIONS** The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. **Balance Sheet** 31 August 2022 14 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ...26/04/2023.... and were signed on its behalf by: ............................................. R K A Martin - Trustee **Cash Flow Statement** for the Year Ended 31 August 2022 15 **Notes to the Cash Flow** Statement for the Year Ended 31 August 2022 16 **Notes to the Financial Statements** 17 ## **1. CHARITY INFORMATION** The Russell Martin Foundation is a private charitable company limited by guarantee, incorporated in England and Wales. The registered office is the same as the principal address of the charity, Bank House, Southwick Square, West Sussex BN42 4FN. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £ ## **Going Concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Critical accounting judgements and key sources of estimation uncertainty** In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably ## **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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs include central functions and have been allocated to activity cost categories on the basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use **Notes to the Financial Statements** 18 ## **2.ACCOUNTING POLICIES** - _CONTINUED_ ## **Expenditure** Costs of generating funds relates to expenditure on raising donations. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 25% on reducing balance Computer equipment - 33% on cost ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or release the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. **Notes to the Financial Statements** 19 ## **2. ACCOUNTING POLICIES** - _continued_ Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **Derecognition of financial liabilities** Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **3. DONATIONS AND LEGACIES** Notes to the Financial Statements 20 CHARITABLEACTII"ITIES 31.8.22 31.8.21 Coaching and service delii'ery 829,265 580.159 IM"ESTIIIENT INCOME 31.8.22 31.8.21 Deposit account interest OTHER INCOME 31.8.22 31.8.21 BHCC for Apprentices Adi'ertising income GoTr'etnment covid grants 29.480 64.939 29,480 RAISING DONATIOYSAND LEGACIES 31.8.22 31.8.21 Costs of raising funds 9,792 (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 21 CHARITABLE ACTII'ITIES COSTS 31.8.22 31.8.21 Chaiitsble Activities (see Detailed SOFA) Share of Support costs (see note 8) Share of Goi'ernance costs (see note 8) 992276 593.736 114,781 82.7$2 20,639 11.300 1,127.696 687.788 Anali'sis bi. Fund-. UnTestTicled funds Restricted funds 636,992 473.409 4￿,704 214.379 1,127.696 687.788 31.8.22 31.8.21 Anall'sis M. Charitable Activity Charitable actii-ilies Support costs Goi"ernance costs ETP 387.966 689_51 OBII, 33.787 Covdcbing -570 523 45.830 20.639 992,276 114,781 20,639 33,787 636992 1.127,696 ETP 214.379 473.409 11.300 OBITr" Coaching 379.3)7 390.657 Charitable actiN'ities Support costs Governance costs 593.736 82.7$2 11.300 699,088 770.014 687.788 (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 22 SITPPORT COSTS General costs Totals Charitable actiiyities 114,781 20,639 13.S,420 Support costs. included in the above. are as folloivs: General 31￿.22 Cbarilable actil'ities 31.8.21 Total actiw ities Office rent and rates Repairs and renewals Insurance Light and heat Telephone Postage and slationery Adi'ertising Staff training Computer costs Motor expenses Vehicle leasing Travel and subsistence Subscriptions Cleaning Sundry expenses Entertaining Depreciation 7.729 17,677 8,073 7.768 2,466 4,010 2,937 4J83 3,946 3.126 7.083 lo￿56 23J(Kl 14 35 9,921 13284 1.714 67 1,117 1,019 1,860 6,410 2,772 3,402 6,627 114,781 82.752 Governance costs 31￿.22 Cbaritable activities 31.8.21 Total actii'ities Auditors, remuneralion Bank fees Accountancy Bank interest 8,400 149 12.090 11,160 20.639 IlJ(M) (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 23 10. NET IIYCOMEI(EXPENDITITRE) Net incomel(expendityre) is stated after chargingi(crediting): 31S.22 31.8.21 Depreciation - owned assets Other operating leases 8￿41 7,729 6,410 7.768 11. AIIDITORS, REMLINERATION 31￿.22 31.8.21 Fees pavable to the charity's auditors for the audit of the charity's rinancial statements 8,400 12. TRITSTEES, REMITNEIL4TION AND BENEFITS There ivere no trustees, Temuneration OT other benefits for the year ended 31 August 2022 nor foT the year ended 31 August 2021. Trustees, expenses There were no trustees, expenses paid for the vear ended 31 August 2022 nor for the year ended 31 August 2021. 13. STAFF COSTS 31S.22 31.8.21 Wages and salaries Social security costs Other pension costs. 370,287 28.048 7.084 49,043 11978 639,801 405.419 The average monthlv number of employees during the year was as follows: 31S.22 31.8.21 Coaching Teaching Management Admin and Support Key management 12 (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 24 13. STAFF COSTS- continued The number of employees ivhose employee benefits {excluding emplover pension costs) exceeded £60.000 31￿.22 31.8.21 £60.001- £70.0(M) Key management tothl employee benefits amounted to £71.1.53. Contributions lotalling £1,32 I (2021.. 0) vere paid to defined pension contribution schemes on behalf of employees ivhose emoluments exceeded £60.000. 14. COMPARATII"ES FOR THE STATEMENT OF FINAIYCI.4L.4CTII"ITIES Ullrestncted Restiicted fillid fillid Total f￿ld$ INCO.%￿ A.ND END01VN￿ NTS FRO.II Donations and legacies 2.5.961 40.934 66.89.5 Charitable actiN'ities Ini"estment income Other income 404.000 176,159 580.159 68,-509 Total 498.47$ 217.093 715 568 EXPE￿1)IT1.RE ON Charitable activities Charitable activities 473.409 214.379 687.788 NET INCOME 2.S,066 2,714 27.780 RECONCILIATION OF FUNDS Total funds brought fonN'ard 65.760 6_5.760 TOT.4LFI"NDSCARRIED FORITr"ARD 90.826 2.7l4 (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 25 TANGIBLE FIXED ASSETS Plant a acbillery Computer i11F￿ellt Totals COST At I September 2021 Additions 12,692 11.773 At 31 August 2022 21.548 37,026 DEPRECIATION At I September 2021 Chaige foi year 6,092 4.869 3.972 8.841 At 31 August 2022 9,631 10961 NET BOOKI;ALUE At 31 August 2022 11917 16,434 At 31 August 2021 7.033 5.681 12.714 16. DEBTORS: A￿￿OI￿Ts FALLIIG DITE II"ITHIN ONE 31.822 31.8.21 Trade debtors Prepayments IOJ02 1 S.863 3.50 10?02 16213 17. CREDITORS: A￿l01T￿Ts FALLING DITE 11:ITHIN 0￿E YEAR 31.822 31.8.21 Trade creditors Social security and other t&xes Net ivage control Pension control Accruals and deferred income Accrued expenses 8.491 14.173 1.892 2,606 10,0 14,4(MJ 7,976 1.367 25.000 15.020 (npi RUSSELL MARTIN FOUNDATION Notes to the Financial Statements 26 17. CREDITORS: AMO[I￿Ts FALLING DITE IVITHIN 0￿E YEAR- continued Deferred income movement 31.8.22 31.8.21 Deferred income is included ivithin current liabilities 10,( 25,000 Movements in )"ear Deferred income at I st sep￿rnber 2021 Released from preN"ious periods Resources defe￿ed in the y￿r (25,000) 10,0 25.000 10,o(K) 25.000 I& LEASING AGREEMENrs Minimum lease payments under non-cancellable opetating leases fall as follows: 31S.22 3 1.8.21 Within one year Between two and five years 27,000 27,000 393fj0 602.50 662W 872.50 (npi RUSSELL MARTIN FOUNDATION **Notes to the Financial Statements** 27 ## **20. RELATED PARTY DISCLOSURES** The following related party transactions occurred during the year: Payments of £1,325 (2021: £853) were made to a family member of the CEO for working on the Extra Time Provision. The transactions were all conducted at arms length. **Detailed Statement of Financial Activities** for the Year Ended 31 August 2022 28 **Detailed Statement of Financial Activities** for the Year Ended 31 August 2022 29