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2024-06-30-accounts

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

Company registration number: 11365387 Charity registration number: 1183005

London Irish Foundation

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 30 June 2024

Brebners 130 Shaftesbury Avenue London W1D 5AR

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Balance Sheet 10
Notes to the Financial Statements 11 to 21

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Reference and Administrative Details

Chairman P Lennon
Trustees P Lennon
J W Brownlee
T Ojo
A Alli
F J Boorman
R M Brown
Charity Registration Number 1183005
The charity is incorporated in England and Wales.
Company Registration Number 11365387
Registered Office Hazelwood Centre
Hazelwood Drive
Sunbury-On-Thames
Middlesex
TW16 6QU
Independent Examiner Darren Bond
Brebners
130 Shaftesbury Avenue
London
W1D 5AR

Page 1

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and independent examiners' report of the charitable company for the year ended 30 June 2024.

Objectives and activities

Objects and aims

The Foundation is the charitable arm of London Irish Rugby Football Club (LIRFC) and delivers projects that use the power of sport to make a lasting and sustainable legacy for sport and education across the communities it serves.

In its fifth year as a registered charity, the Foundation continued to work directly with community-based organisations such as local authorities, councils, businesses, schools, housing shelters and like-minded charities, to identify local issues and needs and develop and deliver community-led projects that address them.

There are four key work strands at the core of the Foundation’s activities: rugby development, education, community engagement and inclusion, all of which are underpinned by a set of core values: family, home-from-home, open to all with rugby at the heart.

Objectives, strategies and activities

During the year the Foundation continued to deliver a portfolio of programmes that fulfilled its purpose while coping with the unexpected impact of the administration of London Irish Holdings Ltd.

Following the administration of London Irish Holdings Ltd on June 6th 2023, which took effect from the end of the 2022/2023 rugby season (30th June 2023), the Foundation was excluded from the Premiership Rugby programmes including Project Rugby and "Champions" app that were an important contributor to its activities over previous seasons. As a result, the Foundation's staff had to focus on other projects and identify new opportunities at relatively short notice.That they were successful in doing so is a great credit to their enterprise and expertise.

Among the new projects that were secured and delivered successfully were the EmpowerHER rugby programme in the Borough of Brent in north-west London, a schools-based project for the Heathrow Community Trust in the London Heathrow Airport catchment area, and a new programme for the Mayor of London's Violence Reduction Unit.

The Foundation's annual disability festival attracted a record number of participants to Maidenhead in December where they enjoyed competing in a series of specially adapted sports competitions.

While generating discretionary funding was difficult, the Foundation was able to continue its valued "Beat the Street" programme that helps homeless people in the Boroughs of Spelthorne and Elmbridge. By bringing stability into the lives of those involved, in the process of restoring confidence and improving skills, "Beat" continued to transfrom participants' lives for the better.

An invitation to participate in a new fundraising initiative called "Kitround" was accepted. The initiative, which has the support of Visa, the financial services company, invites sportspeople and clubs to "declutter and do good" by recycling unwanted sports clothing and equipment for charity. Still in its early days, the initiative has produced encouraging results for the Foundation.

Given the nature of its projects and target audeinces, the Foundation made consistent and persistent efforts to ensure that it's Safeguarding Policies and background checks were reviewed and updated as necessary and were applied thoroughly.

All the Foundation's policies are available on its website.

Page 2

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Trustees' Report

Fundraising disclosures

The funding of the major projects undertaken was satisfactory throughout the year. The key performance indicators (KPIs) set by the various collaborators were achieved and the related payments received.

The Foundation's efforts to build reliable sources of discretionary funds continued in what was an unstable environment. The ability to claim Gift Aid on donations provided a worthwhile return.

An associate company, London Irish Foundation Trading Limited, exists to enter sponsorship agreements on commercial terms with interested partners. This company is effectively controlled by the Foundation and has covenanted to remit all of its profits to it.

Public benefit

The Trustees have followed the guidance issued by the Charity Commission with regard to the public benefit arising from the activities they decide the Foundation will undertake. The objectives and aims of the Foundation are covered in more detail in this report.

The Foundation provides its surrounding communities with a range of free and affordable opportunities to participate in sport, leisure and education, promoting inclusion and opportunity for all who wish to take part.

The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Going concern

While the administration of London Irish Holdings Ltd and its subsidiary, London Irish Scottish Richmond Limited, which took effect on 6th June 2023, has created operational difficulties for the Foundation, the Trustees have confirmed that the charity does not rely on London Irish Holdings Ltd funding and future projects will provide adequate resources.

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they have adopted the going concern basis in preparing the financial statements.

Reserves policy

The charity aims to maintain a prudent level of reserves to ensure financial stability and meet unforeseen challenges. The target reserve level will be reviewed annually, considering operational needs, potential risks, and compliance requirements.

Page 3

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Trustees' Report

Trustees and officers

The Trustees and officers serving during the year and since the year end were as follows:

Trustees: P Lennon J W Brownlee T Ojo C Judge (resigned 7 December 2023) A Alli F J Boorman R M Brown Chairman: P Lennon

Structure, governance and management

Nature of governing document

The charity is controlled by its Memorandum and Articles of Association, being a company limited by guarantee, as defined by the Companies Act 2006. Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 30 June 2024 was six. The company was incorporated on 16 May 2018 and was granted charitable status by the Charity Commission on 16 April 2019.

Recruitment and appointment of trustees

Trustees are selected for their professional skills and experience across a variety of areas to which they can contribute towards the effective running of the charity. New trustees must be approved by the Board and are appointed by an ordinary resolution of the company. The number of trustees must be not less than three and there is no maximum provided always that London Irish Holdings Ltd shall be entitled at any time to appoint up to two trustees. Each new trustee receives a welcome pack and an introduction to the organisation and support is readily available from the officers of the charity.

Organisational structure

London Irish Foundation is a private company limited by guarantee and is registered with the Charity Commission.

Andrew Keast, Chief Executive, who is not a Trustee, is responsible for the day-to-day operation of the Foundation.

Page 4

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Trustees' Report

Relationships with related parties

The London Irish Foundation is an independent organisation constituted as a company limited by guarantee with charitable status directed by a Board of Trustees.

Major risks and management of those risks

The Trustees regularly identify and review the risks to which the charity is exposed and ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. Therefore, they are aware of the major risks facing the Foundation and are taking appropriate steps to protect the Foundation. During the period, the major risks related to the challenge of ensuring the Foundation continues to deliver its charitable objectives while awaiting a resolution of the administration of London Irish Holdings Ltd.

Impact of the Administration of London Irish Holdings Ltd

The unexpected Administration of London Irish Holdings Ltd and its subsidiary London Irish Scottish Richmond Limited meant that the Foundation could not continue to participate in RFU and Premiership Rugby programmes. Hitherto successful programmes were stopped with consequent setback to the Foundation's business plan.

It is a reflection of the value of the Foundation's other programmes, the enthusiam of the participants and the professionalism of the Foundation's staff that delivered them that so much benefit was achieved.

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in interest rates.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the statement of accounting policies in the financial statements.

Page 5

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LONDON IRISH FOUNDATION

Trustees' Report

Appreciation

On behalf of the Trustees I would like to thank the companies and organisations that collaborated on the Foundation's programmes and activities during the year including Pump Technology Limited, The Mayor of London's Office, London Irish Supporter's Group, Enterprise rent-a-car, London Broncos rugby league club, Middlesex County Rugby and the Wooden Spoon Society.

The Foundation is fortunate to have committed and professional staff. We are very appreciative of their contribution, in particular, the Foundation’s Chief Executive, Andrew Keast and Head of Operations, Wayne Wedgebury who provided exemplary leadership through a challenging year.

I would also like to thank my fellow Trustees for their support and for giving so freely of their time and expertise.

Small companies provision statement

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

19-Dec-24

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... P Lennon Chairman and trustee

Page 6

Docusign Envelope ID: 9CA975F1-3149-44A8-BB77-0F1911F00AE0

20-Jan-25

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Statement of Financial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
23,125
11,960
1,524
35,564
72,173
(22,935)
(75,988)
(98,923)
(26,750)
(74,970)
(101,720)
137,414
35,694		 Restricted
funds
£
-
118,503
-
-
118,503
(9,881)
(149,602)
(159,483)
(40,980)
74,970
33,990
20,970
54,960		 Total
2024
£
23,125
130,463
1,524
35,564
190,676
(32,816)
(225,590)
(258,406)
(67,730)
-
(67,730)
158,384
90,654

The notes on pages 11 to 21 form an integral part of these financial statements. Page 8

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Statement of Financial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
53,823
56,566
31,819
599
6,445
149,252
(18,582)
(35,188)
(53,770)
95,482
(79,732)
15,750
121,664
137,414		 Restricted
funds
£
-
98,867
-
-
-
98,867
(3,026)
(164,266)
(167,292)
(68,425)
79,732
11,307
9,663
20,970		 Total
2023
£
53,823
155,433
31,819
599
6,445
248,119
(21,608)
(199,454)
(221,062)
27,057
-
27,057
131,327
158,384

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 20.

The notes on pages 11 to 21 form an integral part of these financial statements. Page 9

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

(Registration number: 11365387) Balance Sheet as at 30 June 2024

Note
Fixed assets
Tangible assets
15
Current assets
Debtors
16
Cash at bank and in hand
17
Creditors: Amounts falling due within one year
18
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
19
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
20		 2024
£
3,367
7,689
129,888
137,577
(40,992)
96,585
99,952
(9,298)
90,654
54,960
35,694
90,654		 2023
£
3,446
46,855
190,562
237,417
(63,181)
174,236
177,682
(19,298)
158,384
20,970
137,414
158,384

For the financial year ending 30 June 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 8 to 21 were approved by the trustees, and authorised for issue on 19-Dec-24 .................... and signed on their behalf by:

......................................... P Lennon Chairman and trustee

The notes on pages 11 to 21 form an integral part of these financial statements. Page 10

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

1 CHARITY STATUS

The charity is a private company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Hazelwood Centre Hazelwood Drive Sunbury-On-Thames Middlesex TW16 6QU

2 ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

London Irish Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. These financial statements are presented in sterling, which is the functional currency of the entity,

Going concern

During the year, programmes and initiatives have been able to return to pre-pandemic levels despite the concerns over the administration of London Irish Holdings Ltd. The Foundation is expecting a number of new projects to get underway in the near future and looking forward to planning for future fundraising events with them successfully managing to obtain grant funding and donations post year end. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 11

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Donated services and facilities

Where services or facilities are provided to the charity as a donation that would normally be purchased from suppliers, this benefit is included in the financial statements at fair value. Where the fair value of the donated services or facilities cannot be reliably measured, then the benefit is valued at the cost to the donor or the resale value of goods that are to be sold.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Page 12

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Tangible assets are stated on the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Office equipment 3 years straight line

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 13

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

Notes to the Financial Statements for the Year Ended 30 June 2024

LONDON IRISH FOUNDATION

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity uses a defined contribution pension scheme. A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 INCOME FROM DONATIONS AND LEGACIES

Donations and legacies;
Donations from individuals
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
23,125
23,125
53,823		 Total
funds
£
23,125
23,125
53,823

Page 14

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

Notes to the Financial Statements for the Year Ended 30 June 2024

LONDON IRISH FOUNDATION

4 INCOME FROM CHARITABLE ACTIVITIES

Sports camp and coaching income
Grant income
Total for 2024
Total for 2023
5
INCOME FROM OTHER TRADING ACTIVITIES
Total for 2024
Total for 2023
6
INVESTMENT INCOME
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2024
Total for 2023
7
OTHER INCOME
Sundry Other Income
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
9,960
2,000
11,960
56,566		 Restricted
funds
£
-
118,503
118,503
98,867
Unrestricted
funds
General
£
-
31,819
Unrestricted
funds
General
£
1,524
1,524
599
Unrestricted
funds
General
£
35,564
35,564
6,445		 Total
funds
£
9,960
120,503
130,463
155,433
Total
funds
£
-
31,819
Total
funds
£
1,524
1,524
599
Total
funds
£
35,564
35,564
6,445

Page 15

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

Notes to the Financial Statements for the Year Ended 30 June 2024

LONDON IRISH FOUNDATION

8 EXPENDITURE ON RAISING FUNDS

A) COSTS OF GENERATING DONATIONS AND LEGACIES

Note
Donations
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
973
973
2,362		 Total
funds
£
973
973
2,362

B) COSTS OF TRADING ACTIVITIES

Note
Events and conferences
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
21,314
21,314
15,626		 Restricted
funds
£
9,881
9,881
3,026		 Total
funds
£
31,195
31,195
18,652

C) INTEREST COSTS

Note
Interest payable;
Other interest payable
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
648
648
594		 Total
funds
£
648
648
594

Page 16

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

Notes to the Financial Statements for the Year Ended 30 June 2024

LONDON IRISH FOUNDATION

9 EXPENDITURE ON CHARITABLE ACTIVITIES

Charitable activities
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
75,988
75,988
117,400		 Restricted
funds
£
149,602
149,602
82,054		 Total
funds
£
225,590
225,590
199,454

10 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

GOVERNANCE COSTS

Independent examiner fees
Examination of the financial statements
Legal fees
Independent examiner fees
Examination of the financial statements
Legal fees		 Unrestricted
funds
General
£
9,375
13
9,388
Unrestricted
funds
General
£
6,320
1,413
7,733		 Total
2024
£
9,375
13
9,388
Total
2023
£
6,320
1,413
7,733

11 TRUSTEES REMUNERATION AND EXPENSES

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 17

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

12 STAFF COSTS

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
177,164
14,746
2,329
194,239		 2023
£
154,667
15,875
2,272
172,814

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Monthly average number of employees
The number of employees whose emoluments fell within the following bands
£60,001 - £70,000		 2024
No
5
was:
2024
No
1		 2023
No
4
2023
No
1

The total employee benefits of the key management personnel of the charity were £67,780 (2023 - £61,821).

13 INDEPENDENT EXAMINER'S REMUNERATION

Examination of the financial statements 2024
£
9,375		 2023
£
6,320

14 TAXATION

The charity is a registered charity and is therefore exempt from taxation.

Page 18

Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

15 TANGIBLE FIXED ASSETS

Cost
At 1 July 2023
Additions
At 30 June 2024
Depreciation
At 1 July 2023
Charge for the year
At 30 June 2024
Net book value
At 30 June 2024
At 30 June 2023
16 DEBTORS
Trade debtors
Due from group undertakings
Prepayments
Accrued income
Other debtors
17 CASH AND CASH EQUIVALENTS
Cash at bank		 Office
equipment
£
9,914
-		 Motor vehicles
£
-
3,000
3,000
-
972
972
2,028
-
2024
£
-
389
5,440
-
1,860
7,689
2024
£
129,888		 Motor vehicles
£
-
3,000
3,000
-
972
972
2,028
-
2024
£
-
389
5,440
-
1,860
7,689
2024
£
129,888		 Total
£
9,914
3,000
12,914
6,468
3,079
9,547
3,367
3,446
2023
£
7,917
269
17,217
21,450
2
9,914 3,000
6,468
2,107		 -
972
8,575 972
1,339 2,028
3,446 -
2024
£
-
389
5,440
-
1,860
7,689
2024
£
129,888
46,855
2023
£
190,562

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Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

18 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income		 2024
£
10,648
21,093
2,940
366
5,945
-
40,992		 2023
£
10,648
21,964
4,370
879
5,200
20,120
63,181

19 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Bank loans
Bank loans are guaranteed by the UK Government.		 2024
£
9,298		 2023
£
19,298

20 FUNDS

Unrestricted funds
General
Unrestricted funds
Restricted funds
BEAT the Street - Sunbury
Manor
Premiership Rugby -
Tackling Health
Get Berkshire Active
Heathrow Community Trust
EmpowerHER
GBA Start Life Well
VRU
Old Windsor Parish Council
Total restricted funds
Total funds		 Balance at 1
July 2023
£
137,414
4,791
12,835
1,344
-
-
2,000
-
-
20,970
158,384		 Incoming
resources
£
72,173
-
-
-
2,363
40,000
-
76,140
-
118,503
190,676		 Resources
expended
£
(98,923)
-
-
-
(3,274)
(6,010)
-
(145,617)
(4,582)
(159,483)
(258,406)		 Transfers
£
(74,970)
-
-
-
911
-
-
69,477
4,582
74,970
-		 Balance at
30 June
2024
£
35,694
4,791
12,835
1,344
-
33,990
2,000
-
-
54,960
90,654

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Docusign Envelope ID: 16C09EEA-BD92-4973-ACE9-426469FE3508

LONDON IRISH FOUNDATION

Notes to the Financial Statements for the Year Ended 30 June 2024

A transfer of £77,333 was made from unrestricted funds to clear restricted funds where expenditure on these projects was greater than donations in a prior year and no additional funding had been obtained in the current year. The trustees have decided to continue these projects from unrestricted funding for now until suitable future funders can be found.

The specific purposes for which the funds are to be applied are as follows:

B.E.A.T the Street - funding to deliver an intervention programme for homeless people in the Spelthorne area.

Premiership Rugby (Tackling Health) - funding to deliver rugby based exercises to encourage children to become more active and to eat more healthily.

Get Berkshire Active Apprenticeship - funding for a rugby-based fitness initiative.

Heathrow Community Trust - funding for the areas surrounding Heathrow Airport.

EmpowerHER - funding to provide rugby training to girls.

GBA Start Life Well - funding to deliver rubgy and other physical activity sessions to young people.

Coaching - funding for a rugby coach.

VRU - funding to engage with 360 young women and girls from targeted schools to deliver team building activities.

21 RELATED PARTY TRANSACTIONS

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions with companies wholly owned within the group.

During the year, London Irish Holdings Ltd made donations to London Irish Foundation totalling £389 (2023: £319).

22 ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Board of Trustees, who are directors of the company.

Page 21