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2024-06-30-accounts

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

Charity registration number 1179205

THE CARDIFF BLUES COMMUNITY FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

CONTENTS

Page
Trustees' report 1 - 8
Statement of trustees' responsibilities 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 26

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The objects of the CIO are:

For the benefit of the public in the geographical area of the Cardiff Blues rugby region.

(A) Promotion of community participation in amateur sport.

The objectives and activities of the charity are to promote community participation throughout the Cardiff Blues region. Delivering inclusive, innovative, and sustainable programmes on sport related themes, health, mental health, social inclusion, and education. Using sport to deliver change in the community, harnessing social good, improving, and increasing opportunities and empowering people to make positive life choices, irrespective of race, gender, disability, belief, sexual orientation, age, or socio-economic background.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have had regard to it when reviewing the aims and objectives of the charity, and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the objectives set by the charity, specifically the promotion of community participation in healthy recreation by providing facilities for the playing of rugby and other sports.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Volunteers

Volunteers play a huge part in the charity; we recognise the value that volunteering has for any organisation and are proud to play our part in supporting volunteers.

Last year the charity had 138 volunteers through our community coaching mentorship programme comprising of USW students and Secondary Schools pupils completing their Rugby leaders and Sports leadership awards. 11 volunteers have also volunteered within our Wheelchair rugby, visually impaired rugby and general fundraising activity.

These volunteers play a significant role in ensuring we continue to increase engagement throughout our region, and we will continue to increase our numbers of volunteers going forward.

Achievements and performance

This year has been phenomenal, we directly supported and engaged 80,238 people, of all ages, from all different backgrounds, with a huge range of different challenges. This has been achieved by increasing our staffing and focussing on our communities’ needs for delivery.

The need for our services has been unprecedented, and we are struggling to keep up with demand. We support right throughout our communities, sport really does have the power to SUPPORT, CHANGE & most importantly bring HOPE to thousands of people. Some of our delivery highlights are below.

Some of our key highlights throughout 2023/2024:

Health and Wellbeing Programme/Primary Engagement

Secondary School Delivery

Leadership Programme

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Believe Programme

Re-engage Programme.

Raising Aspirations

Rugby Leaders

Community Club Engagement

Fit, Fed, Fun

All camp locations are chosen through the Welsh Index of Multiple Deprivation and children are referred through various local authorities and programmes such as family’s 1[st] and flying start – this ensures that we are really making differences for children at real risk of Holiday Hunger.

Food and Fun

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Inclusive Rugby

Tag Festivals

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Events

Staff training and upskilling

All community staffed undertook and passed the below courses:

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Financial review

Total income for 2023/24 was £360,349 (2022/23: £423,449) and expenditure £413,529 (2022/23: £412,250).

This shows a deficit of £53,180.

This was a planned deficit, budgeted at a £50,000 loss against restricted spend as per grant conditions and also a planned spend of unrestricted funds on employing another member of staff.

Reserves

Free reserves held at the year-end were £107,209 (2022/23: £147,036)

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should aim to be maintained at a level equivalent to between three and six-month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Structure, governance and management.

The charity is a charitable incorporated organisation registered with the Charity Commission on 16[th ] July 2018.

The charity's governing document is a CIO Foundation Constitution.

Day-to-day management of the organisation is delegated to the Foundation Director, who manages a team of staff, consultants, and volunteers.

A community manager has been employed to oversee the operational management of staff day to day.

Recruitment and appointment of trustees

Every appointed trustee must be appointed for a term of two years by a resolution passed at a properly convened meeting of the trustees. In selecting individuals for appointment as appointed trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Reference and administrative details Charity name The Cardiff Blues Community Foundation Charity number 1179205 Principal office Cardiff Arms Park Westgate Street Cardiff CF10 1JA Trustees Richard Holland – Resigned 10.04.25 Martyn Ryan Kay Martin Sarah Hopkins Hywel Peterson - Resigned 22.04.25 Tomos Shanklin Independent examiners Tungsten Corporate Solutions Limited 8 Well Street Porthcawl CF36 3BE The Board of Trustees approved the trustees’ report. .............................. Kay Martin – Trustee

Dated: 30[th] April 2025.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2024

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE CARDIFF BLUES COMMUNITY FOUNDATION

I report to the trustees on my examination of the financial statements of The Cardiff Blues Community Foundation (the charity) for the year ended 30 June 2024.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Chartered Institute of Management Accountants, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the financial statements to be reached.

Michelle Perkins ACMA CGMA For and on behalf of Tungsten Corporate Solutions Limited 8 Well Street Porthcawl CF36 3BE

Dated: 30[th] April 2025

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
114,642
-
Charitable activities
4
240,707
5,000
Other trading activities
5
-
-
Total income
355,349
5,000
Expenditure on:
Raising funds
6
44,021
-
Charitable activities
7
351,155
18,353
Total expenditure
395,176 18,353
Net income/(expenditure) for
the year/
Net movement in funds
(39,827)
(13,353)
Fund balances at 1 July 2023
147.036
40.058
Fund balances at 30 June
2024
107,209
26,705		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
114,642
221,833
-
245,707
190,616
11,000
-
-
-
360,349
412,449
11,000
44,021
70,598
-
369,508
317,299
24,353
413,529
387,897
24,353

(53,180)
24,552
(13,353)
187,094
122,484
53,411
133,914
147,036
40,058		 Total
2023
£
221,833
201,616
-
423,449
70,598
341,652
412,250
11,199
175,895
187,094

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Fixed assets
Intangible assets
11
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
18
Unrestricted funds
Designated funds
19
General unrestricted funds
Total Funds		 2024
£
74,692
101,007
175,699
(57,119)
7,683
99,526		 £
6,000
39,239
45,239
118,580
163,818
(29,905)
133,914
26,705
107,209
133,914		 2023
£
132,490
179,674
312,163
(149,388)
12,084
134,952		 £
9,000
56,996
65,996
162,775
228,771
(41,677)
187,094
40,058
147,036
187,094

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended. 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, as far as applicable to the charitable company.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

BALANCE SHEET - Continued AS AT 30 JUNE 2024

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 ……………………………...... and were signed on its behalf by:

………………………………………..

Kay Martin - Trustee

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

The Cardiff Blues Community Foundation is a charitable incorporated organisation registered in England and Wales. The principal office is Cardiff Blues Community Foundation, Cardiff Arms Park, Westgate Street, Cardiff, CF10 1JA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from charitable activities is recognised in the period to which the service is provided.

Income from fundraising is recognised when the event takes place.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

Grants are only included in the SoFA when the general income recognition criteria are met.

In the case of performance-related grants, income must only be recognised to the extent that the charity has provided the specified goods or services, as entitlement to the grant only occurs when the performancer e l a t e d conditions are met. Grants receivables are treated in different ways dependent upon their purposes and the terms of the grant.

Grants receivable for specific purposes are also treated as restricted funds so that any unused funds can be separately identified.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise the costs in relation to generating income such as fundraising activities.

Expenditure on charitable activities includes all costs relating to the furtherance of the society’s objectives as stated in the trustees’ report. This also includes all costs relating to compliance with constitutional and statutory requirements.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Community Foundation App 20% on cost

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Wheelchairs 20% reducing balance. Computers 20% reducing balance.

The gain or loss arising from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 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 to realise 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Taxation

As a registered charity, the organisation is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects’ purposes only.

2 Critical accounting estimates and judgements

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.

3 Donations and legacies

2024 2023
£ £
Donations and gifts 114,642 221,833

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

4 Charitable activities

Education programme
Community programme
Grants
Analysis by fund
Unrestricted funds
Restricted funds
Grants
GB Wheelchair Rugby
Community Foundation Wales		 2024
£
19,829
220,878
5,000
245,707
240,707
5,000
245,707
-
5,000
5,000		 2023
£
43,815
146,801
11,000
201,616
190,616
11,000
201,616
1,000
10,000
11,000

5 Other trading activities

Fundraising
Sponsorship
Other trading activities		 2024
£
-
-
-		 2023
£
-
-
-

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Fundraising and publicity
Charitable activities
Staff costs
Community programme
Bank charges
Management fee
Professional fees
Computer & Software
Insurance
Motor Expenses
Subscriptions
Depreciation
Operational costs
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2024
£
44,021
44,021
2024
£
299,694
27,322
2,208
-
2,370
2,313
5,564
440
20.759
7,088
367,758
1,750
369,508
351,155
18,353
369,508		 2023
£
70,598
70,598
2023
£
240,868
41,473
2,480
20,000
1,126
3,749
465
4,889
727
18,924
4,493
339,192
2,460
341,652
317,299
24,353
341,652

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

8. Governance Costs
Independent examiner fee
Legal costs		 2024
£
1,750
-
1,750		 2023
£
2,460
-
2,460

9 Trustees Remuneration and Benefits

There were no trustees’ remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

10 Staff costs

The average monthly number of employees during the year was as follows:

Staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
No.
15
2024
£
267,673
25,664
6,357
299,694		 2023
No.
18
2023
£
218,142
18,321
4,405
240,868

No employees received remuneration in excess of £60,000.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

11 Intangible fixed assets

Intangible fixed assets
Community Foundation App
£
Cost
At 1 July 2023 and 30 June 2024 15,000
Amortisation and impairment
At 1 July 2023 6,000
Amortisation charged for the year 3,000
At 30 June 2024 9,000
Carrying amount
At 30 June 2023 9,000
At 30 June 2024 6,000

12 Tangible fixed assets

12
Tangible fixed assets
Wheelchairs & other
Equipment
Computers
Cost
£
£
At 1 July 2023
81,787 5,604
Additions
-
-
At 30 June 2024
81,787
5,604
Depreciation and impairment
At 1 July 2023
27,875
2,520
Depreciation charged in the year
16,356
1,401

At 30 June 2024
44,231
3,921
Carrying amount
At 30 June 2024
37,556
1,683

At 30 June 2023
53,912
3,084
13
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
74,692		 Total
£
87,391
-
87,391
30,395
17,757
48,152
39,239
56,996
2023
£
132,490

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

14 Creditors: amounts falling due within one year

Notes
Bank Loans
Deferred income
Other creditors
Accruals and deferred income
15
Creditors: amounts falling due after more than one year
Bank Loans		 2024
£
13,279
1,500
40,590
1,750
57,119
2024
£
29,905		 2023
£
13,571
33,124
100,943
1,750
149,388
2023
£
41,677

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Incoming Resources Balance at Incoming Resources Balance at
resources expended 1 July 2023 resources expended 30 June
£ £ £ £ £ 2024
WRU Collaborative
Projects (13,353) 40,058 (13,353) 26,705
(13,353) 40,058 (13,353) 26,705

WRU Collaborative Projects Funding received to support the setup, and support of wheelchair rugby (fixed assets).

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

17 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Movement in funds| |Transfers|Balance at|Incoming|Resources|Balance at| |1 July 2023|resources|expended|30 June| |£|£|£|£|2024| |-|-| |Intangible assets|9,000|(3,000)|6,000| |Fixed Assets|-|3,084|-|(1,421)|1,683| |-|-| |12,084|(4,421)|7,683|

----- End of picture text -----

Intangible assets

Fund relates to the unrestricted net book value of the charity's intangible assets.

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

18 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024 2024
£
£
£
Fund balances at 30 June 2024 represented by:
Intangible fixed assets
-
6,000
-
Tangible assets
10,851
1,683 26,705
Current assets/(liabilities)
118,580
-
-
Long term liabilities
(29,905)
-
-
99,526
7,683 26,705		 Total
Unrestricted
funds
Designated
&
Restricted
funds
2024
2023
2023
£
£
£
6,000
-
9,000
39,239
13,854
43,142
118,580
162,775
-
(29,905) (41,677)
-
133,914 134,952
52,142		 Total
2023
£
9,000
56,996
162,775
(41,677)
187,094

Docusign Envelope ID: 9FA98101-4092-478B-A528-D90F44612DBB

THE CARDIFF BLUES COMMUNITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

18 Related party transactions

During the year Cardiff Rugby Limited received income on behalf of the charity totalling £37,791 (2023: £107,271) and recharged expenditure to the charity totalling £378,898 (2023: £470,374). Details of the income and expenditure can be found in the financial statements. At the year end the charity owed Cardiff Rugby Limited £40,590 (2023: £100,943). The organisations are related due to common directors/trustees.