Registered number..
Charity number.. 1177994
The Buffalo Foundation
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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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
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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
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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
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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.
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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.
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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
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The Buffalo Foundation
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
by..
9_9
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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
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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.
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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.
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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.
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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.
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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
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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
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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
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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
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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
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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).
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