Registered number.. Charity number.. 1177994 The Buffalo Foundation UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ENV30719684-8563-DCFB-8268-F8F8 12117r2025 19.13 PM UTC
The Buffalo Foundation CONTENTS Page Reference and Administrative Details of the Company. its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financial Activities statement of Financial Position Notes to the Financial Statements 10-17 ENV30719684-8563-DCFB-8268-F8F8 12117r2025 19.13 PM UTC
The Buffalo Foundation REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees T Hanley J Joubert S Thiele Charlty reglstered number 1177994 Prlnclpal operatlng office clo Briars Group Ltd Floor 2, Suite 3, The Oulsel Sankey Street Warringlon Cheshire WA1 1NN ENV307196 12117r2025 19.13 PM UTC Page 1
The Buffalo Foundation TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Iruslees present their statutory report along with the financial statements of The Buffalo Foundation for the year ended 31 March 2025. The financial statements have been prepared in aecordance with the accounting policies sel out on pages 10 to 12 and comply wth the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with 'lhe Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, I'FRS, 1021. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The Buffalo Foundation I'lhe charity") is a charitable incorporated organisalion ICIOI, not having share capital and was incorporated on 17 April 2018. 11 operates in accordance with a Constitution adopted on 28 March 2018. If the charity is wound up, the members have no liability lo contribute lo its assets and no personal responsibility for settling its debts and liabilities. Organisation and management The Iruslees make the key decisions about the Conduct of the charity. The trustees give their time voluntarily and do not receive any remuneration for their services to the charity. The administration of the charity was carried out by a team of coordinators comprised of Luke Treadwell and Shameeg Salie who are employed by Rainmaker Solutions Limited. Rainmaker Solutions Limited is a related party and provides financial support to the charity. The trustees alone are considered the key management personnel of the charity- Recruitment and appointment of Trustees The Iruslees have complete control of the charity in relation lo the application of funds. Trustees are appointed in accordance with the charity's goveming document. All decision-making of the charity is made in accordan with the charity's Conflicts of Interest policy. Trustees The trustees of the charity during the year ended 31 March 2025 and up to the date of approval of this report were". T Hanley J Joubert S Thiele OBJECTIVES AND ACTIVITIES ENV307196 12117r2025 19.13 PM UTC Page 2
The Buffalo Foundation TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 a. Objectives of the charity The main objectives of the charity and their activities are.. The advancement of education of disadvantaged people in the UK and around the world through the provision of grants or services that would enable them lo participate in eduealional opportunities that would improve their life skills and career opportunities that would lift themselves and their families from povety. The promotion of community participation in healthy recreation in the UK and around the world by the provision of facilities for the playing of amateur sports, in particular but not exclusively cycling, for persons who, by reasons of poverty, economic or social circumstances may not otherwise have access lo such facilities. b. Public benefit staternent The trustees of the charity have given due regard to the Charity Commission's guidance on public benefit and have taken reasonable steps to ensure that this guidance has been considered in the activities undertaken by the charity lo deliver its charitable purposes. The charity delivers a benefit lo the public through the pursuance of its principal objects, in particular the advancement of education and promotion of community participation. ENV307196 12117r2025 19.13 PM UTC Page 3
The Buffalo Foundation TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE a. Key performance indicators The charity made payments to projects the Iruslees elected lo support tolalling £27,394 12024". £20,610>. The charity worked with various South African academies with the aim to uplift disadvantaged communities through access lo sport and education and these make up the majority of the charity's support for this year. Kwano Cycling Academy were the recipients of £5,000 12024.. £nill, used lo cover operational costs of managing the Academy, which focuses on the coaching of young cycling lalenl. The funds also support after- school homework programs and educational tutoring provided to the students. This forms part of a longer-term partnership. Songezo Academy were the recipients of £17,582 12024.. £14,504) used to SUPF)Ort the living wage of the cycling coach and lo provide amenities to the Academy. The funds also contribute to after-school homework support and educational tutoring. This is the start of a longer term partnership and the Iruslees expect to continue providing these funds throughout 2025-2026. Coaehone were the reeipients of £1,63212024.. £1,359>, used to provide coaching advice and guidance to the academies. The tfUStees expect to continue providing these funds throughout 2025-2026. 8onga.org Cycling Academy were the recipients of £3,180 12024". £4,747), used to support the academy in South Africa. The trustees expect lo continue providing these funds throughout 2025-2026. Fundraising income by the charity in 2024-2025 was £19,981 12024.. £15,229) comprising of a series of regular donations made under the Buffalo Club, the regular gift programme established by the charity and donations made al events hosted by the charity. Additionally, some of the operational expenditure of the charity is covered by a monthly donation from Rainmaker Solutions, meaning that all funds raised from members of the public, our Corporate supporters and other fundraising events can be used to support good causes. The total contributions from Rainmaker Solutions Limited during the period of report amounted lo £36,73012024". £34,793). Financial review a. Results for the year The results for the year are shown in the statement of the financial activities on page 7. During the year, the charity received donations and other income lotalling of £56,711 12024. £50,022). The cost of raising fund was £32,790 12024.. £27,6391 and amount spent on charitable activities lotalled to £27,394 12024." £26,049) which brought total expenditure for the period lo £60,18412024.. £53,688). The result for the year ended 31 March 2025 was a deficit of £3,47312024. deficit £3,6661. The balance of the unrestricted reserves as at 31 March 2025 was £9,885 12024.. £13,328) and restricted reserves totalled £nil12024." £nill. ENV307196 12117r2025 19.13 PM UTC Page 4
The Buffalo Foundation TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 b. Reserves policy The level of reserves is monitored and reviewed by the trustees at least annually. The trustees believe that the charity should target to hold unreslrieled financial reserves equivalent lo a minimum of four month's operating costs. As at 31 March 2025 the charity's unrestricted reserves was £9,885. This is in line with the target set out in the reserves policy above. c. Plans for future years The charity intends lo continue supporting the projeets it currently has funding agreements with. This includes the Kwano Academy, under a conlinualion of the previous agreement, with the intention to continue funding their work, as well as the Bonga.org Cycling Academy. Statement of Trustees. responsibilities The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102". Th Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Praclicel.. The law applicable to charities in England and Wales requires the Iruslees lo prepare financial statements fo each financial year, which give a true and fair view of the slate of affairs of the charity and of the income and expenditure of the charity for the year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in 'Accounting and Reporting by Charities., Statement o recommended practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102", make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any material departure disclosed and explained in the financial slalements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that th charity will continue in business. The Iruslees are responsible for maintaining proper accounting records which disclose with reasonable accurac at any time the financial position of the charity and enable them to ensure that the financial statements compl with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trus deedlconslitulion. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial infomiation included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination o accounts may differ from legislation in other jurisdictions. Approved by order of the members of the board of Trustees on 30 November 2025 and signed on their behairf ENV307196 12117r2025 19.13 PM UTC Page 5
The Buffalo Foundation TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 by.. 9_9 ENV307196 12117r2025 19.13 PM UTC Page 6
The Buffalo Foundation INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's report to the trustees of The Buffalo Foundation I report to the charity Iruslees on my examination of the accounts of The Buffalo Foundation for the year ended 31 March 2025. Responsibilities and Basis of Report As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with th requirements of the Charities Act 20011'the Act'} I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 14515llbl of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl o accounts sel out in the Charity (Accounts and Reports) Regulations 2008 other than requirement that th accounts give a 'true and fair view, which is not a matter considered as part of an independen examination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Signed.. Dated.. 30 November 2025 Gemma Bignell FCCA ENV307196 12117r2025 19.13 PM UTC Page 7
The Buffalo Foundation STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies 56.711 56.711 50,022 Total Income 56,711 56,711 50,022 Expendlture on: Raising funds Charitable activities 32,790 27.394 32,790 27.394 2T,639 26,049 Total expendlture 60,184 60,184 53,688 Net movement in funds 13.4731 13.4731 (3,666) Reconciliation of funds: Total funds brought forward Nel movement in funds 13.328 13,4731 13.328 13,4731 16,994 (3,666) Total funds carried forward 9.855 9.855 13,328 The Ststemenl of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 17 form part of these financial statements. ENV307196 12117r2025 19.13 PM UTC Page 8
The Buffalo Foundation REGISTERED NUMBER: STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Current assets Debtors Cash al bank and in hand 10 12,471 4,231 5,649 16,172 16.702 21,821 Current liabilities Creditors." amounts falling due wthin one year 11 6,847) (8,493) Net current assets 9.855 13,328 Total assets less current liabilities 9.855 13,328 Net assets excludlng penslon asset 9,855 13,328 Total net assets 9,855 13,328 Charity funds Reslricled funds Unrestricted fLJnds 9,855 13,328 Total funds 9.855 13,328 The Company was entitled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo 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 I accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject I the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 30 November 2025 and signed on their behalf by.. The notes on pages 10 to 17 form part of these financial statements. ENV307196 12117r2025 19.13 PM UTC Page 9
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General information The Buffalo Foundation I the charity") is a charitable incorporated organisation {CIOI, not having share capital and is incorporated in England and Wales. The charity registration number is 1177994. Ils registered office and principal pla of business is St. Peters House, 130 Wood Street, London, EC2V 6DL. Accounting policies 2.1 Basis of preparation of financial Statements These accounts have been prepared for the year ended 31 March 2025 with comparative information presented for the year ended 31 March 2024. The financial statements have been prepared under the historical cost convention wrfch items recognised al cost or transaction value unless otherwise stated in the relevant accounting policies below or in the notes to these accounts. The financial statements have been prepared in accordance wth Accounting and Reporting by Charites. Statement of Recommended Practice applicable lo Charities preparing their financial statements In accordance with the financial reporting standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 1021" The financial reporting standard applicable in the UK and Republic of Ireland I'FRS, 1021, and the Charities Act 2011. The charity constitutes as public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound. 2.2 Critical accounting estimates and areas of judgement The preparation of financial stslements in compliance wth FRS 102 requires the use of certain critical a¢¢ounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The following principal accounting policies have been applied.. 2.3 Assessment of going Concern The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect lo a period of al least one year from the dale of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Iruslees are of the opinion that the charity will have sufficient resources to meet ils liabilities as they fall due. 2.4 Cashflow statement The financial stslements do not include a cash flow statement because the charity, as a small reporting entity, Is exempl from the requirement lo produce such a statement under Accounting and Reporting by charib.es Statement of Recommended Practi ICharib"es SORP IFRS 10211. ENV307196 12117r2025 19.13 PM UTC Page 10
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.5 Income recognition Income is recognised in the period in which the charity is enlilled lo receipt, the amount can be measured reliably and il is probable that income will be received. Where income relates to future periods, this income will be deferred. Grants and donations received for the general purposes of the charitable company are included as unreslricled funds,. grants and donations for activib'es restricted by the wishes of the donor are taken to reslricled funds. 2.6 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commilling the charity to make a payment to a third party, it is probable that a transfer of economic benefit will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is included in the accounts on an accruals basis and included attributable VAT, which cannot be recovered. Expenditure is allocated to the particular activity on a direct basis or by allocation based on the level of direct expenditure relating lo that activity.. Expenditure comprises the following.. a. The costs of charitable activities comprise expenditure related to the charity's primary charitable purposes. Such costs include.. Grants Related support costs b. The cost of raising funds comprises expenditure related to the charity's expenses in relation lo raising funds for the charity. Such costs include.. Direct costs Related support costs c. Support costs are the costs associated with the governance arrangements of the charity and the general running of the charity. Included within this category are costs associated with the strategic management of the charity's activities as opposed to day-lo-day management. Support costs are allocated on the basis of time spent of these aclivilies. 2.7 Debtors Debtors are recognised al their settlement amount, less any provisions for non-recoverability. Prepayment are valued at the amount prepaid. They have been discounted lo the present value of the future cash receipt where such discounting is material. 2.8 Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the dale of acquisitions. ENV307196 12117r2025 19.13 PM UTC Page11
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.9 Creditors and provisions Creditors and provisions are recognised when there is an obligation al the balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllemenl can be eslimaled reliably. Creditors and provisions are recognised al the amount the charity anlicipales il will pay to settle the debt. They have been discounted lo the present value of the future cash payment where such discounting is material. 2.10 Taxation The Buffalo Foundation is a registered charity and therefore is not liable lo income lax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. 2.11 Fund accounting Restricted funds are to be used for specific purposes as specified by the donor. Expenditure which meets their criteria is charged to the fund. Unreslricled general funds are available for use al the discretion of the trustees in the furtherance of the general objectives of the charity. Donations and legacies Unrestricted funds 2025 Total funds 2025 Donations Recurring donations One off donations Donations from Rainmaker Solutions 19,856 36,730 125 19.856 36.730 125 Sponsorship Other donations 56,711 56.711 ENV307196 12117r2025 19.13 PM UTC Page 12
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Donations and legacies {continued} Unrestricted funds 2024 Total funds 2024 Donations Recurring donations One off donations Donations from Rainmaker Solutions Sponsorship Other donations 7,498 13,689 34, 793 42 1,498 13,689 34, 793 42 50,022 50,022 Raising funds Unrestricted Unrestricted 2025 2024 Allocated support costs (note 71 Fundraising costs 30,390 38,515 30,390 38,515 Charltable actlvltles Allocated support costs (note 71 Total funds 2025 2025 Bonga project Kwano project Songezo project Coachone 3,180 3,180 22,582 1,632 22,582 1,632 27,394 27.394 ENV307196 12117r2025 19.13 PM UTC Page 13
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities {continued) Allocated support costs (no Grant funding of activities 2024 Total funds 2024 7) 2024 Bonga project Songezo project Coachone 4,747 14,504 1,359 5,439 10,186 14,504 1,359 20,610 5,439 26,049 Grants 2025 2024 Grants paid during the period 27,394 20,610 27.394 20,610 Grants for the period have been made in support of the following charitable activities 2025 2024 Social welfare 27,394 20,610 27.394 20,610 ENV307196 12117r2025 19.13 PM UTC Page 14
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 The following institutions were awarded grants during the year ended 31 March 2025. Grants are not made to individuals. 2025 2024 Bonga Kwano Cycling Songezo Academy Coachone 4,747 2,999 14,504 1.359 16,855 1, 768 20,610 21,622 Support Raising Charitable funds Inote activities {note 51 2025 Total Unrestricted Funds 2025 41 2025 staff costs Consultancy fee Bank & card fees Awountancy & examinab'on fees Fundraising 2,781 17,295 104 10,209 2.781 17,295 104 10,209 2.400 2,400 30,389 2,400 32,789 Raising Charitable Total funds (note activities Unrestricted 4) (note 5) Funds 2024 2024 2024 staff costs 2,498 16,817 115 2,498 16,817 (5,323) 19,084 Consultancy fee Bank & card fees (5,438) Accountancy & examination fees 19,084 38,514 (5,438) 33,076 ENV307196 12117r2025 19.13 PM UTC Page 15
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Support costs are allocated on lime spent on aclivilies. The charity has not employed any staff directly. Administrative services are supplied by staff employed by Rainmaker Solutions Limited which are subsequently recharged to the charity. Independent examiner's remuneration 2025 2024 Accountancy fee Independent examination fee 10.209 19,084 10,209 19,084 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024- £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NILJ. 10. Debtors 2025 2024 Due within one year Trade debtors 12.471 5,649 12,471 5,649 11. Creditors: Amounts falling due within one year 2025 2024 Trade creditors Aecruals and deferred income 6,851 14) 2,246 6,247 6,847 8,493 ENV307196 12117r2025 19.13 PM UTC Page 16
The Buffalo Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Current assets Current liabilities Difference 16,702 16,8471 16,702 16,8471 Total 9,855 9,855 Analysis of net assets between funds - prior year Unrestricted Endowment funds funds 2024 2024 Total funds 2024 Current assets Current liabilities 21,821 (8,493) 21,821 (8,493) Total 13,328 13,328 13. Related party tran$aetions During the year ended 31 March 2025, donations were received by the charity fmm trustees J Joube £NIL12024. £4001 and T Hanley Nil12024. £Nill. During the year: Rainmaker Solutions Limited donated £36,73012024.. £34,793) to the charity. Rainmake Solutions Limited also provided setvices lo the charity tolalling £17,29512024". £22,979). At the reportin date, the amount owed was £6,84912024.. £2,246). J Joubert is also the director of Rainmaker Solution Limited. The were no other related paty transactions during the year ended 31 March 202512024.. none). ENV307196 12117r2025 19.13 PM UTC Page 17
ENV30719684-8563-DCFB-8268-F8F8 12117r2025 19.13 PM UTC