Company registration number: 14095933 Charity registration number: 1202666
World Netball Foundation
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 3 I December 2024
World Netball Foundation
Contents
| Reference and Administrative Details | |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
World Netball Foundation
Reference and Administrative Details
Trustees Dame Elizabeth Nicholl DBE (Chair) MrGYoung Ms K Bates Miss M Ravele Charity Registration Number 1202666 Company Registration Number 14095933 The charity is incorporated in England and Wales. Registered Office Tomorrow Blue Media City Salford MSO 2AB Independent Examiner Beever and Struthers The Beehive Lions Drive Shadsworth Business Park Blackburn BBl 2QS
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World Netball Foundation
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024.
Objectives and activities
Objects and aims
The objectives of the charity are the advancement of amateur sport, in paticular but not exclusively the sport of netball, for the public benefit by assistance in the provision of facilities for participation in sport. As well as to further such charitable purposes as the trustees see fit from time to time.
Objectives, strntegies and activities
The World Netball Foundation will use the reach of netball to deliver positive and lasting outcomes, changing lives of individuals and improving communities on a global basis.
Public benefit
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.
Achievements and performance
During 2024 the Trustees of the World Netball Foundation met monthly to discuss how their activities could achieve their aims and objectives and in tum provide public benefit. They actively sought paitnerships to support their vision and mission and made significant progress announcing partnerships with Maitrayana and Griffith University.
Maitrayana
In April 2024 WN Foundation partnered with Indian non-for-profit organisation, Maitrayana Charity Foundation (Maitrayana).
Maitrayana, aims to leverage the power of sport, to create ecosystems that empower girls and young women to fulfil their potential, whilst also furthering girls and women's rights, which aligns with the WN Foundation's mission.
Through this partnership, the WN Foundation set out to put 500 girls through life changing programmes where they will have the opportunity to take part in both netball and life skills programmes, with a focus on their rights. They also offer leadership pathways and economic justice programmes.
The partnership so far has exceeded expectations, with 530 girls as of February 2025 having received netball and life skills training through the YPI Pragati and Netball Clubs due to the grant. The partnership with Maitrayana is ongoing and is continuing to provide benefit.
During the year grant funding of£15,000 was provided to Maitrayana.
Griffith University
Alongside Griffth University the WN Foundation will aim to create impact through work-integrated learning opportunities for students, collaborative research and community engagement, advancing their joint mission to create social change.
The target for 2025 is to increase the visibility of the Foundation and to sustain partnerships.
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World Netball Foundation
Trustees' Report
Financial review
Policy 011 reserves
The charity aims to hold reserves of£ 1,685. This equates to the legal notice of the employee of the International Netball Federation who is seconded to the charity.
At the year end the charity held reserves totalling £4,702 (2023: £5,000) all of which are considered as free reserves.
The charity will continue with its charitable aims to reach the desired reserves level.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Dame Elizabeth Nicholl DBE (Chair)
MrGYoung Ms K Bates Miss M Ravele
Structure, governance and management
Nature of govemillg doc11111e11t
The organisation is a charitable company limited by guarantee, incorporated on 9 May 2022 and registered as a charity on 11 April 2023.
The company was established under a memorandum of association which established the objects and powers of
the charitable company and is governed under its articles of association.
Statement of trustees' responsibilities
The trustees (who are also the directors of World Netball Foundation for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trnstees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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World Netball Foundation
Trustees' Report
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other ir[r] egularities.
The tmstees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ f[r] om legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 22 July 2025 and signed on its behalf by:
Dame Elizabeth Nicholl DBE (Chair) Tmstee
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World Netball Foundation
Independent Examiner's Report to the trustees of World Netball Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Pmt 16 of the 2006 Act and are eligible for independent examination, I report in respect ofmy examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
1. accounting records were not kept in respect of World Netball Foundation as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 in order to enable a proper understanding of the accounts to be reached.
Suzanne Lomax FCA
The Beehive Lions Drive Shadsworth Business Park Blackburn BB1 2QS
22 July 2025
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World Netball Foundation
Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Other expenditure Total expenditure Net expenditure Net movement in fnds Reconciliation of funds Total fnds brought forward Total funds carried f1ward Note 3 4 5 12 |
Unrestricted funds 2024 39,905 39,905 (39,861) (342) (40,203) (298) (298) 5,000 4,702 Unrestricted funds 2023 43,933 43,933 (43,933) (43,933) 5,000 5,000 |
|---|---|
All of the charity's activities derive from continuing operations during the above two periods.
The prior year Statement of Financial Activities is shown on page 13.
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
World Netball Foundation
(Registration number: 14095933) Balance Sheet as at 31 December 2024
| Current assets Cash at bank and in hand Funds of the charity: Unrestricted income funds Unrestricted fnds Total funds Note 10 12 |
2024 £ 4,702 4,702 4,702 2023 £ 5,000 5,000 5,000 |
|---|---|
For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 22 July 2025 and signed on their behalf by:
rJ.e,..,,wt
Dame Elizabeth Nicholl DBE (Chair)
Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Charity status
The charity is 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 £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Tomorrow Blue Media City Salford M50 2AB
These financial statements were authorised for issue by the trustees on 22 July 2025.
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 fmancial 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and.the Companies Act 2006.
Basis of preparation
World Netball Foundation meets the defmition 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.
The comparative period was a seven month period from 1 June 2023 to 31 December 2023.
Going concern
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.
Key judgements
The preparation of the financial statements requires management to make certain judgements, estimates and assumptions that 11ffect the amounts repmted for assets, liabilities, income and expenditure. Management do not consider that there are any key judgements or estimates.
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.
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World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 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.
Expenditure
All expenditnre is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and tl1e amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that catego1y. 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.
Charitable activities
Charitable expenditnre comprises those costs incmTed by the chaiity in the delive1y of its activities and se1vices 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.
Grant expenditure
Grants payable are payments made to third paiiies in fu1iherance of the Charities' objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant awarded. This notification gives the recipient a reasonable expectation that they will receive the grant.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
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.
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.
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World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
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.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity 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 in the Statement of Financial Activities 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
| Unrestricted funds General £ Donations and legacies; Donations fom companies, trusts and similar proceeds 39,905 39,905 |
Total Total 2024 2023 £ £ 39,905 43,933 39,905 43,933 |
|---|---|
4 Expenditure on charitable activities
| Note Charitable Activities Grant funding of activities Staff costs Governance costs 6 |
Unrestricted funds General £ 3,208 15,000 20,208 1,445 39,861 |
Total Total 2024 2023 £ £ 3,208 14,064 15,000 20,208 20,219 1,445 9,650 39,861 43,933 |
|---|---|---|
The grant funding advanced during the year was advanced to the Maitrayana Charity Foundation.
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World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 2024
5 Other expenditure
| Allocated support costs | Unrestricted funds General £ 342 342 Total 2024 £ 342 342 Total 2023 £ |
|---|---|
6 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Legal fees |
Unrestricted funds General £ 1,445 1,445 Total 2024 £ 1,445 Total 2023 £ 9,650 9,650 |
|---|---|
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration f[r] om the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| 2024 £ Staff costs during the year were: Wages and salaries 18,449 Social security costs 1,274 Pension costs 485 Other staff costs 20,208 |
2023 £ 16,189 2,691 1,208 131 |
|---|---|
| 20,219 |
All staff are employed by International Netball Federation Limited. It provides key management personnel to the Charity.
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World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 2024
No employee received emoluments of more than £60,000 during the year.
9 Taxation
The income and gains of the charity are exempt f[r] om taxation to the extent that they are applied to its charitable objectives.
10 Cash and cash equivalents
Cash at bank
| 2024 | 2023 |
|---|---|
| £ | £ |
| 4,702 | 5,000 |
11 Contingent liabilities
At 31 December 2024, the charity had committed to providing grant funding to support its charitable activities in future periods for £5,000. These commitments have been formally approved by the trustees and meet the recognition criteria for disclosure under the applicable accounting f[r] amework.
12 Funds
| 12 Funds | |||||
|---|---|---|---|---|---|
| Balance at 31 | |||||
| Balance at 1 | Incoming | Resources | December | ||
| January | 2024 | resources | expended | 2024 | |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General | 5,000 | 39,905 | (40,203) | 4,702 | |
| Balance at 31 | |||||
| Balance at 1 | Incoming | Resources | December | ||
| .Tune 2023 | resources | expended | 2023 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General | 5,000 | (43,933) | 5,000 |
13 Analysis of net assets between funds
| Unrestricted | Total funds at | |
|---|---|---|
| funds | 31 December | |
| General | 2024 | |
| £ | £ | |
| Current assets | 4,702 | 4,702 |
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World Netball Foundation
Notes to the Financial Statements for the Year Ended 31 December 2024
| Unrestricted | Total funds at | |
|---|---|---|
| funds | 31 December | |
| General | 2023 | |
| £ | £ | |
| Current assets | 5,000 | 5,000 |
14 Related party transactions
During the year the charity made the following related party transactions:
The charity received donations of £39,905 (2023: £43,933) f[r] om the parent company, International Netball Federation Limited. At the balance sheet date the amount due to/from was £Nil (2023 - £Nil).
15 Prior year Statement of Financial Activities
| Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of fnds Total fnds brought frward Total fnds carried frward 12 |
Unrestricted funds £ 43,933 43,933 (43,933) (43,933) 5,000 5,000 |
Total 1 June 2023 to 31 December 2023 £ 43,933 |
|---|---|---|
| 43,933 | ||
| (43,933) | ||
| (43,933) | ||
| 5,000 | ||
| 5,000 |
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