LORD'S TAVERNERS Empowerin9 young people through cricket •k4 THE LORD'S TAVERNERS LIMITED IA company limited by guarantee and not havin9 a share capilall Trustees, Annual Report and Consolidated Financial Statements For the year ended 30 September 2024 Registered Company No." 582579 Registered Charity No= 306054 OSCR Regulotor No." SC046238 FLJIiERAJgXG
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 CONTENTS PAGE Reference and Administrative Details Chair's Introduction Report of ihe Trustees (incorporating the report of the Directors and Sialement of Truslee responsibilities) Financial Review 16 Independent Auditor's Report 28 Consolidoted Sialement of Financiol Activities 31 Siolement OF Financial Activities Chority only 32 Bolonce Sheets 33 Consolidated Siolement of Cash Flows 34 Notes to the Financial Sialemenls 35
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REFERENCE AND ADMINISTRATIVE DETAILS Founding Patron and Twelfth Man HRH Prince Phillip President Dovid Gower Trustees and Dire<tors Tim Luckhursl Chair Suzy Forihing (née Chrislopherl Vice Choir Mike Galting Rachel Kirby-Rider Jenn Barnett Abeed Janmohamed Gordon Kennedy Froncis D'souzo Sukh jit Grewal Poul Walker Col Sohal Resigned April 2024 Senior Leadership Team Mark Curtin Will Gogerty Mike Hortwell Gobby Shirley Bernord Watts Chief Executive Director of Engogement ond Portnerships Director of Marketing ond Communicolions Director of People ond Programmes Director of Finonce and Operations Registered Office 8-1 O Grosvenor Gordens, London SW I W ODH conloclord$1Qyerner5.0rg www.lordslaverners.org Registration Companies House Chority Commission Office of the Scottish Charities Regvlator 582579 (registered in England ond Wales) 306054 SC046238 Bankers National Westminster Bank plc St James's and Piccodilly Branch 208 Piccodi Ily London WIA 2DG Legal Advisers Brown Rudnick 8 ClifFord Streel London Wl S 2LQ Auditor hoysmocintyre LLP l O Queen Street Ploce London EC4R I AG Investment Managers Close Brothers Assel Managemenl l O Exchange Square Primrose Street London EC2A 2BY
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 CHAIR'S INTRODUCTION Looking back over the highlights OF the past 12 months, I Ihink we can all be proud of Ihe progress the charity has made ond there is no clearer indication of this ihan the number of young people on which our progrommes have a doily impact. In 2023/2024, I'm so proud to say that we ore emFX)wering nearly 30,000 yoijng people across our cricket programmes. It is a milestone number as we head into the milestone year of our 751h anniversary. I doubt many OF the group OF well-meaning individuals who decided io give Something back by Forming the club in 1950 could have dreamed so many would beneFil Irom our life changing crickel programmes, or that the nome of the Lord's Toverners would be synonymous with having such on impact on young ople wilh o disobility and from disadvantaged communities. As olwoys, I'd urge you to toke fhe opportvnity OF visiling o progromme neor you - there will be rnany given we are oclive i n every county in England along with Wales and Scotlond to see first hand the difFerence this is making not only lo Ihe young people, bul also their friends and family across all aspects of their lives. But it's not just within our programmes where we continue lo progress. Away from Ihe fronl line of delivery, work conlinues lo ensure we are a stable and compliant charity meeting oll obligations to the young people we are here to support bul olso lo our partners, major Funder5 and mernbers who make our work possible. Our current Ihree-year strategy has focused greatly on ensuring we are fit for purpose and here for another seven decades. I'm pleased lo report that we've ochieved o huge omount in this area over the pas112 months - you con read obout this in more detail later in this report. But key areas include the developmenl ol our First and long overdue customer relotionship management system and o focus lo diversify ovr income which is vitol in an ever changing and unslable world. As you will see from looking al our financial slalemenls, 50 % of our income is now sourced from long-lerm funding agreements and corporate portnerships making 1150 much eosier to plon with certointy- Much OF this work goes unnoliced, bul il 15 Vltal as re9ulotions ond complionce play an ever-increasing role in the day-t(Aoy work of a modern charity. As mentioned earlier, in 2025 we are celebrating our 75th anniversary ond this will be commemorated by a series of events acr055 the covnlry lo allow u5 to celebrate in true Toverners style ond reflect on the past while looking forword to whot lies ahead. We ore also delighied to hove o new Royal Potron in Prince Edward, The Duke of Edinburgh, continuing a long- standing relalionship with the Taverners ond the Royal Family. The Future will olso hold a change of Chair OF Trustee5 a51 step down from the role hoving completed my fIVYear term. Following on extensive search, we're delighied that Lucy Pearson has been appointed our new Chair from May. She brings o wealth OF experience from the educalion and sports seclor hoving olso been a former member of the England & Wales Cricket Board and, among many other occolodes, twice England Women's Cricketer of Ihe Year having played more than 75 games For her country. Anoiher long-standin9 board Tnember 10 step down hom hi5 role hoving cornpleled his term is Mike GolFing someone who needs no introduction ond who continues to work tirelessly for the chority- On behalf of everyone connected with the Taverners, I'd like to thank Mike for oll his support and his work as a Truslee bul I'm sure il's nol goodbye given his dedication and continued desire lo ensure we support the young people on our programmes. Finally, I'd like lo thank everyone who has helped me over the posi five yeors. There's been some fantastic memories to look back on and some 9real achievements bvt most importanily, I'm so honoured to have had the chance to meet ond work with lot5 of incredible people. The Lord s Toverners 15 truly o unique organisation, wilh an incredible h istory but one that has adapted lo the times and has an exciting 75 years lo look forward lo. As I've olready highlighted, getting to see our programmes first-hand can't help bul make you feel so proud Ihol we, Toverner5 members, ore helping to make that happen up ond down the counlry every week. If you hod lo choose a single event, which let's be honesl. is going to be tough wilh everything we do, then my choice would be Table Cricket Finals day al Lord's. This year it's on 25 June and is part of a wider doy lo celebrote disobility cricket, pleose let us know if you would like to come olong, youll have the mosl omazing day and will leave with the biggesl smile on your facel The lost fTve years have flown by, there have been a few tricky siluotions, but I really believe that ihe Lord's Toverners is going from strength to strength and will grow its reach and impact even further. I look forward to meeling mony of you during the course of our 75th anniversary celebralions thi5 year. rim Luckhurst Chair, Lord s Taverners
LORD'S TAVERNERS Empowering young people ihrough cricket WHAT WE DO We are a community that provide innovative, inclusive, and impactful cricket programmes, empowering young people with disabilities and from disadvantaged communities to develop the knowledge, skills, capabilities, and confidence required to overcome the challenges of inequality, raise their aspirations and reach their potential. Driven by a passion for equality, we strive to be a lead organisation at the heart of social change; maximising our knowledge, experience and insight gained through our work with young people and their communities experiencing inequality. OUR PURPOSE We exist to empower and positively impact the lives of young people facing the challenges of inequality. OUR VISION Every young person can overcome the challenges of inequality and achieve their potential. OUR MISSION Delliver high quality cricket programmes that will empower young people facing inequality to make positive choices, improve their health and wellbeing and achieve positive outcomes. OUR VALUES 'ImcLUDE We create a safe space in a community where everyone belongs. A happy place where friendships are made, where we are all respected. We encourage each other to be the best we can be. We support each other, building confidence through our personal and shared experiences. We create a positive place to thrive. We take pride in the part that we play, as individuals and role models. "' EMPQWER ' INSPIILE vrfww.lordstaverners.org
LORD'S TAVERNERS Empowering young people through cricket WE EXIST TO POSITIVELY IMPACT THE LIVES OF YOUNG PEOPLE FACING THE CHALLENGES OF INEQUALITY We work across the UK and beyond to provide inclusive and impactful programmes, empowering young people with disabilities and from disadvantaged communities to develop the knowledge, skills, capabilities and confidence required to overcome the challenges of inequality, raise their aspirations and reach their potential. •LIPIR 1.6• gives young people with a disability aged 12-25 the chance to play regular, competitive cricket. By creating community cricket hubs we give participants the chance to compete against their peers and enjoy the benefits of playing sport. WICKETZ is a cricket programme for young people aged 8-19, living in disadvantaged communities. We provide year-round weekly cricket sessions with a focus on breaking down barriers, developing life skills and creating stronger communities. TABLE CRICKET is an adapted version of cricket, played on a table tennis table. The game is inclusive and specially designed to give young people with a disability the chance to play, understand tactics, be part of a team and develop social skills. Our Cricket Kit Recycling programme collects usable cricket kit from across the UK, which is then sorted and redistributed to partner organisations within the UK and around the world, allowing young people with a lack of equipment to access the sport. www.lordstaverners.org 00000
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Programme Highlights 2023/2024 Super 15 The Super I s Disobility Cricket progromme continues to grow with weekly sessions now being delivered in 176 locations across Englond, Woles and Scoilond - Ihot's 0 2410 increase in venues on the previous year. The progromme delivered life<honging impact to more thon 1,800 young people while olso delivering o wide range of personal development workshops on topics such as physicol ond menlol heolth. ond employobility which is a key focus for the progromme. Wi¢ketz Active in 19 towns and cities ocross the UK and offering free cricket sessions 0178 different locotions, Wicketz engaged with more thon 2,400 young people - this included a growth in female porticipotion on the progromme lorgely thonks lo the l O girls only Wicketz hubs we deliver. Workshops remoin o key element of the delivery with key issues covered including onli-social behaviour, personol development and employability. Table Cri¢ket Yorkshire's Beckfoot School were crowned the 2024 National Table Cricket Chompions oi Lord's os part of a competition that this year ottrocled more ihon 70 schools ond 500 young people from across 37 counties. We continue lo roll out robust and qvick to assemble loble cricket equipment which con deliver thousands of hours of fun. The gome wos also played for the first time in the historic Long Room within the Lord's Povilion as port of o celebration of disability cricket held at the home of crickel. Ill Iirl
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Programme Highlights 2023/2024 (continued) Cricket in SEND Settings On the back of a pilot programme launched two years ago to take cricket into schools lo ensure young people with special educational needs and disabilities ISENDI can engage in the most appropriale Form of cricket, we worked with 769 settings in the pasl year. It now means we are delivering cricket in 50/0 of the SEND settings Wlth the long-term aim lo work in all 1,500 across the UK. This has enobled nearly 25,000 lo regularly enjoy the game and 9ive Ihem the chance lo transition into crickel in a community setti ng. Cricket Kit RyClIng More than l O,OOOkg of cricket kit was recycled and distribuled to projects in the UK and abroad with over 31,000 items donated 194/0 of everphing we received was saved from londfilll. The current 2024/25 year of activity will be the losl for Ihe programme Following the decision to wind il down after a period under review. It had become clear that Crickel Kit Recycling doesn't align with our strategy lo focus on areas of our work Ihal deliver the greatest impact. As such. going forward we will be prioritising our disability and community cricket programmes where the demand for our work has never been greater. However, we are committed to workin9 with the wider game on a solution to lackle the ongoing challenge of access to offordable kit. Minibuses We delivered minibuses durin9 the year which were the last of our approved applications that had been delayed due lo worldwide supply issues. As updated in last year's annual report. we are no longer taki ng applicalions for new minibuses. Programme5 We Support Johnners Trust Johnners Trust has dual aims to help promising young crickelers on the elite pathway who are in need of Financial assislance, and lo support cricket for people livin9 wilh a visual impairment. Each year the Trust awards gronts, known as Johnners scholarships, to lalenled youih cricketers in county or regional age group pathways in England and Wales who need help lo meet the costs and demands of travelling to training or buying the necessary kit needed lo fijlfil their polential at county and regional level and upwards. The Trust also awards grants lo Blind Cricket En9land and Wales to support visually impaired cricket. Johnners Trust will wind down in 2025 as il celebrates its 30ih anniversary. 'I'HE JOHNNERS TRUST
THE LORD'S TAVERNERS LTD
Year ended 30 September 2024
REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS)
2024 Impa
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Our Outcomes Our outcomes are underpinned by core themes thal we seek to develop within eoch of our pro9romme5'. Improve Artivity Levels and Promote Healthy Lifestyles IMPROVE AcllviTY LEVELS Children and young people From less aFFluenl Families are less likely lo engage in physical activity, putting them at greoter risk of on unhealthy lifestyle. This issue is even more pronounced for Ihose with disabilities, who face barriers lo accessing sporls and facilities. Regular physical ond sociol oclivity is crucial for both menlol and physical health. Our Free, inclusive cricket programmes aim lo lackle this, offering weekly sessions thal promote exercise, compelition, ond the developmenl of life skills among young people. here's pupils I can think of now ihol, os a resuli of playing cricket and Ihe engagement ond enthusiasm Ihat ihey've had. ore now more oclive. They're goin9 out al lunchtime and doing a daily mile, when they weren't before. They know Ihey've got cricket coming ond you can see them olways trying lo r&enoci the crickel lessons wilh one of them being the leacher on Ahe playing field." SEND Teacher AND PROMOTE HEALTHY LIFESTYLE.S Increase Confidence and Self-Esteem Self-esleem and confidence are vital lor the gr0h of young people with disabilities and from disadvontoged bockgrounds. They help improve wellbeing ond personol development wiihin their communities. Studies show a strong link beeen sporls ond mental heolih, with young people in underserved Oreos benefiting from physical activity. Regular participation boosts self-worih, resilience, and menlol healih. Confidence also helps combot depression and loneliness, ond our programmes provide a supporlive environment For young people lo thrive through consistent oclivity in local community hubs. INCREASE (ONFIDENCIE Mum OF Hampshire Super I s Participanl, Hodley." "His conlidence hos gone throu9h the roof since joining Super 15. A few years ago, Hodley would have been terrified lo walk into o hall full of people he didn'l know. Super Is is inclvsive and friendly yel keeping the activity compefilive. It's the best of both worlds. AND SELF-ESTEEM Promote Social Inclusion Community cricket programmes like Super I s ond Wicketz help breok borriers to pcrlicipalion, including discrimination and exclusion. By Fostering inclusivity, sport builds stronger communities ond supports individuals focing sociol isolohon. Our programmes ensure young people with disabililies and from deprived areas Feel crickel is for them. Inclusive sessions bring tO9eiher those facing ineqvolity. offering a supportive space lo be active. Young parliciF)anls and their families gain opporlunilies to connect, overcoming chollenges through shared experiences in a welcoming environment. PROMOTE. SOCIAL INCLUSION South Wales Wickelz parlicipanl.. -1 can't really imo9ine myself nott doing Wicketz now. I think even if others I play wilh live with a disability or have different religious beliefs, we all corne Aogefher and we're one team.-
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Inspiring Stories IMOGEN Imogen lives with Autism and ADHD. She hod to slop attending school a few years ago due lo bullying (mental, physical and cyber) she was experiencing, which contributed lo her menlol heolih reaching on all- time low. Nearly a year aFter her First experience walching cricket al The Hundred, Imogen decided she wanled to ploy os well. Mum Sleph sow a flyer for Super I s shortly aFterwards, and Imogen decided lo give il a go. Since her first session Imogen has gone from strength lo strength. She's played variou5 Super I s tournament5 and even tried hard ball cricket. Ploying the sport hos massively developed Imogen'5 confidence,. She hos made new friends, where she 5tru99led to maintain relationships before, ond has become a role model For other girls looking to toke up the gome_ Cricket has been Iransformotionol for Imogen, with the illusFrotion of this bein9 that she is now considerin9 a return to a suitable schwl. "I love going to Super 15. 1 feel happy and safe and enjoy playing where the proFe5sionals proclice" EMMANUEL Emmonuel lives in a deprived oreo of Glasgow where his Fomily hos few economic advantage5, and social cohesion 15 a bi9 issue. He hos been coming lo Wickelz sessions in Springburn since April 2018, olongside children from a vast range of cultural backgrounds. When Emmanuel started comin9 to Wicketz, he didn't take any port of il seriously- just like ol school. However, it wosn'l long beFore there wos a marked change in hi5 attitude showin9 nol only in the cricket ses5ion5 bul olso ol school ond home. According lo his school, he is now excelling academically. He has also become an inlegral port of the Wickelz community, where he now serves os o young leoder and mentor to other parlicipanls. Over the course of his lime with Wicketz, Emmanuel's mother has observed significantr chonges in his personal and sociol development_ He ha5 formed many new friendships and he now lakes care of his sister ol home ond during Wickelz sessions, ond helps her with homework. The leadership work5hop5 al Wickelz have helped Emmanuel develop his skills ond sense OF responsibility. He hos become more conscienlious about supporting the coach and his team, and he has taken on more responsibililies such os serving os the coploin of his leom_ Both Emmanuel's parents hove become involved with Wicketz too ond ore enjoying the social inclusion this has brou9hi the family as they socialise with the wide ronge of people involved in Ihe Glosgow project. 10
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Our Strategic Objectives The charity's mission is to empower young people facing ihe challenges of inequality. We have put thi5 at the hearl of everything we do. We launched a ihree-year slralegy in 2022. 11 has seven Strategic objectives ihai focus on improving our impact and reach, and also prioritised our need lo transform our culture, struclures and approache5 lo meet the expectations OF our stakeholders as well as the requirement5 of regulators and legislator5 Wlth ihe drive to significantly improve the capability and performance of the organisation. The successful execution of the stralegy will ensure we are a more modern, forward looking, agile organisalion thal continuously develops lo meet the ever<hanging environment that we operale in. We made significant progress during the second year of the strategy as demonstrated below. We have much more to do and with 5igniFicant positive sleps forward made, now have ihe momentum and strong foundation5 10 successfully achieve our strategic goals going forward. Our three-year strategy and objectives can be viewed here. What did we achieve in 2023124 l. Become a values-led organisation Whai have we achieved? We recruited a People Manager and working with our newly formed People & Culiure Committee are ensuring employees have a best in practice people journey through their time at the charity- Other highlights include amended working practices, gr0h in opporlunities for learning and development, and improved people workplace benefits. We have recruiled 14 Youih Ambassadors from our programmes to increase youth voice across local, regional and national programmes and events. This ha5 included speaking engagemenls and supporting the recruitment proce5S for the new Chair of Trustees. We have also built our youth voice at a local level, engaging with Development Officers to bring youth voice inlo the heart of programme activity. We have crealed an employee voice Forum within the organisation lo diversify our thinking on operalional aspects of the charity as well as created an extended leadership team to diversify our ihinking on slrategic aspects of the organisalion. We have worked to creale new Taverner5 values following workshops with multiple stakeholder5 and these will be at the centre OF our thinking and decision making moving Forward. Work io define the value5 largely took place in the year under review but they were launched in February, 2025. Our wider organi5ational designated safeguarding leam has continued to work ihrough it5 action plan, increasing our capability lo mitigate risk and manage and respond io reporled incidents. We continue to build strong partnerships (including ECBI with oihers in the safeguarding landscape to check and challenge our practices. Our new EDI Plan for Action ensures all employees, volunteers, member5 and 51okeholders are welcomed, included and can play an active parl in our work. What's next? Embed youih voice al a local level and continue Youth Ambassador Iraining and development lo give young people engaged in our programmes increased opportunities lo influence and campaign on our behalf at a regional and national level. Deliver a high-quality safeguarding system with effective reporting. recording and responding. Implement our EDI Plan for Action taking accountability across all areas of the organisation. Maintaining ihe Foundations we have put in place to ensure we create a high performing workplace environment Using Fivefields as a base. 2. Be impactful Whai have we achieved? You can read more about whal we have achieved in our 2024 Im act Re Working with industry leaders Trust Impact. we will continue to develop our Theory of Change model and understand how we can be even more impact-focu55ed. This wa5 highlighted a5 a priority for ihe year under review but this was pul on hold due to competing resource priorities, bul it conlinues to be an area of work that need5 focus to ensure we have greater transparency and accountability to our stakeholder5. 11
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Our Strategic Objectives {continued) We Saw a 24% increase in the number of Super 15 and Wickelz hubs- that's regular activity now happening in 254 locations acr05S the UK. A focus for ihe year under review was the delivery of our life skills workshops and a particular focus on employability. As such we delivered 482 life skills workshops12570 increase) and 65 employability workshops lengaging 358 parlicipantsl- Whal's next? Develop our theory of change and greater understanding of our impact- thi5 remain5 a key focus. Continue to build our network of, and engagemenl wiih. employability subject matter expert5. Deliver more employability workshops with a focus on ensuring young people reach iheir potential. Work with our Development Officers to create a connection belween the development of young leader5 and hjture employment opportunities. 3. Grow our reach to those who need us most Whai have we achieved? We reached over 24,000 young people in 769 SEND (special educalional needs and disabilitiesl setting5. That 15 50 /0 of all UK SEND settings wilh the long-term aim of being able to deliver cricket in all 1,500 UK SEND settings. We Saw a 22% increase in female Super I s participanls and delivered l O gir15 only Wicketz hubs. We also hosted our first girls Super I s residential. Whal's next? Exlend our reach by developing partnerships in Ireland and Northern Ireland that enable u5 to delivery cricket programme activity. Drive women and girls, participation and engagemenl Review, develop and sustain all our programme activity- 4. Positively influence and lead social change Whai have we achieved? Greater collaboration with sector partner5 such as Chance to Shine. Take Her Lead and ACE Programme. Continued to influence and inform leaders within Parliament and beyond. Working closer with key partners such as ECB, Sport England and People s P05tcode Lottery, has given u5 a great platform to raise awareness of our work, its impacl and have an input into how cricket and 5POrt for Social development are critical Means to improve and develop people and their communities. Several national media opportunities acr05S the year, worldwide parlnerships in Canada and being part of the first Disability Crickel Day at Lord's working in partnership with the MCC and ECB. Whal's next? Become a leading voice in and oul of the 5eclor by developing media and wider engagement opportunities. Continue to Use our impacrful content to increase brand awareness and understanding of our work wiihin cricket and beyond. 5. Be driven by insight Whai have we achieved? Our digital campaign5 and online activity continue to build awareness and drive rehJrns wilh particular successes in targeting recruitment of challenge event fundraisers - which included a record 60 runners taking part i n the London Marathon. We launched ihe charity's firsi dedicated customer relationship management system ICRMI to now have all member and supporter information in one place with dala accessed from muliiple plarforms. Technology transformation work now mean5 Ihal current and historical data collected acr055 all our activity is now being used to make informed decisions acr055 the charity- 12
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Our Strategic Objectives {continued) What's next? Wider focus on our digital campaigns lo drive relurns and develop a more long-term targeted approach as we learn more aboul our members and supporters. Ensure our rnembership data is cleansed and sy51ems updated to ensure they are fit for purpose to enable an enhanced membership journey and retention. Continue to develop our CRM syslem to ensure we are driven by insight in all our decision making. 6. Create a more sustainable income model What have we achieved? 50 /0 of our annual incorne is now Secured a5 part of long-lerm parlnerships. We saw a significant increase in challenge event income- which includes a record £150,000 raised through our London Marathon learn. A Trust5 and Foundalions focus led to significant wins throughout ihe year For new funding - both regionally and nationally. We recruited a Membership Manager to implement recommendations following the Membership Matter5 survey. Much time has been spent working on cleansing our data and putting in place compliant processes and technology, and with a wider rnernbership engagement plan to be rolled out from February 2025. We have refreshed our events Strategy with more OF a focus on bespoke and targeted event5, and giving greater central support lo our regional event programme. Whal's next? Deliver a new event slralegy while also launching and implementing a giving club. Widen and grow our audiences to convert engagement into regular income. Deliver events and activity related to our 75th anniversary. Continue to diversify income from corporate partners and trusts and foundalions through prospecting. 7. Become a high performing organisation Whai have we achieved? We moved io a new workplace in January 2024 wilh Fivefields in Victoria now our new home- a charity hub and collaboration space intended for ihose whose outcome is lo have a Social impact on young people. Not only ha5 this created a modern, Fit for purpose and high performing environment for our operations, it has also delivered significant financial savings. We have a new financial 501ution in place allowing For grealer underslanding, visibility, decision making and planning while ensuring we are compliant and meeting all statutory regulations. Our work to achieve the Sport England Tier 3 code of Sports Governance has continued as we pul in place policies, procedures and training towards acheiving the mandalory code of governance for organisation5 in receipt of public funding. Our wider Iransformalion programme continued with project5 including a new CRM system, Financial solution, move to a new workplace, historical dala and governance. We have pul in place a detai led risk register across the organisation detailing all our aclivity and support. Training has been undertaken and policies have been put in place lo mitigate these risk5. Whal's next? Continue to deliver our three-year Iransformalion programme and ongoing busine55 improvement and development to improve reporting and transparency so we remain accounlable for our performance a5 we Strive lo achieve all our objectives. Deliver a leading people journey to improve performance, capability and capacity across all areas of our workforce while developing and implemenling a wellbeing Strategy. As part of ongoing work relating to governance. compliance and risk we will achieve Tier 3 code of Sport5 Governance, decrease and manage risk acr055 the organisation and pul in place further sy5tem5 10 Support high quality financial management and reporting. Plan and develop a future organisational slralegy for 2025-2028. 13
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) How do we fundraise Strategic Relationships We are also supported by o nvmber of strategic and long-term portnerships with governing bodies, statutory fijnders, trusts, foundations ond corporole organisotions who share ovr mission ond vision to support young people. This yeor we hove invested in development of the Engogement and Partnerships teom- to build on the Lord's Toverners, previous success securing funding from grant making orgonisotions ond corporate portners, and to develop a new strategy to moximise impact from these relationships and grow these vitally important income streoms. People's Post<ode Lottery (PPL) PPL, through the Postcode Active Trust, have been a key partner and supporter for a number of yeors. PPL'S approach is diFFerent from other organisations in that it provides unreslricted funds. These Funds enable us to invest in our chariloble programmes in the areas of most need as defined by the charity, but we also have ihe option to invesl in infrastruclure, including fundraising capacity, systems and aspects of governance ihal restricted funds may nol support. We are proud lo be parl of ihe PPL family of charities. Thank you to the players of the People's Postcode Lottery. •PEOPLE'SII PO%l(-tlDE POSTCODE, AC.TII'F. LOTTERYll , THI'5T England and Wales Cri¢ket Board (ECB) In 2021, we launched o new mvlti-year portnership with the England ond Wales Cricket Boord to help lockle inequolity ond provide opporlunilies for young people living with o disobility to access crickel within their locol communities. This has svpporled the growth of the Super I s progromme and this year we consolidated delivery within a1139 county cricket boards through o nehvork of locolised community cricket hvbs to provide young people living with a disability the chance lo ploy regulor ond competitive cricket. Addilionolly, thanks lo funding from the ECB we are delivering work in Speciol Educotionol Needs ond Disobility settings ocross the country, to provide further opportunities to engage i n cricket. This year we grew our reoch from 400 10 769 UK SEND settings. ECB Sport England We have been working with Sport England across our disability cricket activity for a number of years and we are delighted that Ihey hove continued to support our Super I s and Table Cricket activity alongside Ihe ECB and Berkeley Foundalion,. allowing us to exlend the reach of our programmes as outlined. SPORT I ENGLAND Corporate Partnerships Parlicular thanks go to Berkeley Foundation. Berkeley came on board more than len years a90 as a partner in our disability cricket programme and without their valuable financial and proFessional support, Super I s would not be where it is loday- a programme wilh o truly national reach. We have continued lo work logether as parl of our current Ihree year parlnership. This year we also received fantaslic support from ICE Futures Europe, who provided financial support lo help deliver summer residentials across our programmes. We would also like to Ihank Wavestone, Brown Rudnick, the P&M Group, Seabourne Cruises, the Central London Alliance, and Black Opal Travel Group, for their financial and professional support to the charity- 4 Berkeley Foundation Trusts and Foundations In 2023/2024 the Lord's Taverners benefited from significant contribulions from the following funders, for which we remain hugely grateful= City Bridge Foundation, The Elizabeth and Prince Zoiger Trust, The Loppylugs and Barbara Morrison Charitable Trust, The Moondance Foundation, Peter Harri50n Foundalion, POM Charilable Trusl. The Walerloo Foundalion, The Westminster Foundation and Garfield Weston Foundation. 14
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) How do we fundraise (continued) Events Ovr centrol office team and volvnleers across the country orgonise o wide range OF events to Fundroise for our chorilable activity. Our regional commillees ploy o key role in linking our programme activity to local supporters while engoging regionol partners. These events include: dinners, lunches, concerts, cricket motches, golf days and a variety of sponsored challenge events. A huge Ihonks must go lo all the volunteers, members, supporters, sponsors, and orgonisers across the country who enable the chority to continue to roise much needed fvnds, ond hove continued to reloin ond build our neOrk ocross the UK. Members Ovr members and regions ore o very speciol part of the Taverners community. As well os playing a mojor role in supporting our events on a regulor basis ocross the UK, they olso provide us with o significant bonk of volunteers who work with us on our fundraising octivities. Individual Supporters and Sponsors Individuals svpport ovr work in mony ways either Ihrough onfroff donations, ongoing adivity, making us o beneficiory OF their estate or roising money through o sponsored event. We olso received support from a number of gronl-moking orgonisotions who ore SVPF)orling our work oll across the UK and we would like to give speciol ihonks to: The Alon Jenkin Siokes Memoriol Trust, The Astor of Hever Trust Bruce Wake Choriloble Trvsl, Denness Luckhursi Foundotion, The Felix Byom Shaw Foundotion, The Gannochy Trust, The HowFhorne Choritoble Trust, The Hovghion Dunn Chariloble Trvsl, The Hugh Froser Foundolion, The Hugo Holkes Choritoble Trust, Hvmberside Police and Crime Commissioner. Hompshire Police ond Crime Commissioner, The James Edword Harris Trust, London Morothon Choritoble Trvst, Peter Stormonth Dorling Choritoble Trust, Redditch Council VCS Gronls Scheme, The Simon Gibson Charitoble Trust, The Skipton Building Society Choritable Foundotion, Sports Foundation for the Disobled, Sionley Foundolion and The Wixamtree Trust. We would also like to thonk everyone who hos made generol donations to the chority, inclvding: Allan Wilkins, Terry Allcock, Keith Bonks and Ronold Monsell who left us o legocy, Members of ovr giving club, And to oll the other individuals who.- completed a morathon, bike ride, ottended and svpported our events, donated to us, supported our Big Give oppeol, or otherwise helped the chority throvghoul the yeor. The charity underlakes fundraising in line wilh Ihe Fundraising Code of Practice set by the Fundraising Regulator. We have not received any complainls in the last Iwelve month5 in relation to our fundraising praclice5. 1HANK Yeui 15
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Financial review Introdu¢tion We ore extremely gratefvl to all our svpporters for their continued generosity despite the financiolly chollenging times. Our Finoncial approoch for the yeor was focused on continuing to deliver ond improve financial robustness, investment in progrommes, and efficiency improvements within the chority whilst continuing lo operole within our ogreed reserve ronge. This oligns with our long-term slrolegic plon ond ensures ihol we continue to deliver i mpoct while mointaining Financial resilience. In 2023/24 we roised £6. I m, which is the highest level of income in 5 yeors ond enobled us to reach 28,669 young people through our cricket progrommes. Importantly, 44/0 of the income is either multi-year funding or secured funding which in addition to ollowing us to operole ot scole olso ensures thot we con support multi-yeor progrommes so thot we con deliver sustained and losting impact for young people. As part of our financiol risk monagemenl the Board ossesses the risks ond opportunities thot the organisolion Faces to determine the oppropriole reserve ronge for the coming year. For 2023/24 the Board opproved that the reserve ronge should be £1.4m to £2m, ond we ended the year within the ronge ot £l.8m. However, while income grew marginolly in the year this wos lower than budgeted ond despite progromme expenditure bei ng lower, we hod o higher deficit thon plonned. Clearly the orgonisotion connol continue to Fund deficits bul in the lost few years given our strong finoncial position ond the agreed Strotegy 2022-25 we hove been oble lo drowdown on our reserves lo invest i n ovr fvndroising copobility, technology, ond our strong desire to continue to i nvest in our progrommes - all of which support the delivery of our thre&yeor strategy and outyjut targets. Through the Governance and Finance Committee, Fundraising and Marketing Commiifee ond Charitoble Programmes Committee we will continue to scrutinise our financiol performonce ond working with monogement moke iTryeor odjustments os necessory. ke., Financial Performance - In¢ome and Expenditure Our general unrestricted donotions were £3,614,000- an increose of 16/0 compored to 2023. However, ol the some lime, membership income decreosed by 23 /0 compored to the previous year to £196,000 ond this can largely be ottributed to o chonge of policy to debtors. As yov can see elsewhere within this report, there ore exciting plans in place to improve the experience of our members ocross oll oreos of activity with new technology lo raise engagement levels. Our event costs decreased by 7/. from £1,386,000 10 £1,249,000 as we continue to odapt to the chonging fundroising environment. This comes at o time when we have refreshed our strategy with more of a focus on bespoke and torgeled events ond giving greoler cenlrol supp)rt to our regional event progromme. Our operoling costs increosed by 6/. from £1,893,000 to £2,017,000. This comes as we continue to invest in capability ond copocity across all areas OF octivity which includes lovnching the chority's first dedicated Customer Relationship Management system which will ploy o vital role in engogement with oll our slokeholders moving forward. 16
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Financial Performance - In¢ome and Expenditure (¢ontinued) Our charitoble progrommes costs decreosed by l 0/0 in the year From £4,287,000 in 2023 to £3,839,000 in 2024. The value and impact certainly did not reduce, ond we ochieved oll of our output torgets despite this. Levels of activity in Wicketz and Super I s remoi ned bul there was significont growth in our work in Speciol Educational Needs and Disability ISENDI settings. The lower costs come as a result of a reduction in residentiol octivity during the summer months, stoff voconcies ot vorious parts of the yeor and Ihe storl of the planned winding down of the Cricket Kit Recycling programme. The Trustees olso ogreed during the year 2023/24 to vndertake a staff salary review following years of pay being considerably vnder inflotion levels which wos important to retain tolenl within the staff and provide slobility. Balance Sheet Changes We chonged our policy for membership revenue during the yeor and this is now recognised when the cash is received lo reflect the voluntary nature. Previously, unpoid memberships were recorded os ovtslanding debis, with o provision ogoinst them. You will also notice thot ovr debtors bolance hos decreosed. Investment in o new finance system launched lost yeor hos improved our obility to identify ond reoct to bod debts quickly which hos contributed to this decreose. Our progrommes team have worked closer with delivery portners to ensure bills for controcted delivery are received sooner. Typically, we are billed qvorterly by these portners which meant large liabilities on our bolonce sheet ot quarter end and yeorend. This hos improved to ensure short-term liobilities hove olso decreosed and this impact is reFlecied in our cosh balance. This is an area in which we are looking to continuolly improve Reserves and Future Financial Planning The charity mointained on unrestricted reserve level OF £ I .8m, (policy is a ronge OF £ I .4m - £2ml ensuring sufFicient liquidity to manage operotional risks ond working capital. Plans for 2025 ond beyond inclvde securing newer contracted, multi-yeor funding, exponding donor engogement with the recently lavnched Customer Relotionship Monogement system, ond more improved membership proposition. All OF these are live projects. We are aiming for o breokeven budget in 2025 but will spend ovr designated fvnds for our continued investment in the final year of our Ironsformotion programme. lil Conclusion The Finoncial year 2024 was a chollenging, olbeit successful and tronsformotive one For the chority, with improved stability ond increased impoct which hos built the foundolions for continued success. We continue to work towards our slralegic objective for a more robust ond informed opprooch to finoncial management ond we are confident this will be achieved within the current slrolegic cycle ihal ends in September 2025 - putting in ploce structures lo ensure we can be even more impoctFvl ocross all oreas of the charity in the yeors to follow. Finally, we wovld like lo make note that ogoinst a tough financiol bockdrop ond uncertain market place, we ore performing well compared to the rest of our sector with now more thon 50Yo of our income secured for 2025 in long- term partnerships although we still hove o circa 15 /0 of income thot sits within whol we consider high-risk. We the Trustees extend our thanks to ovr supporters, donors, partners, ond stakeholders for their continued svpporl in our mission to empower young people through cricket. 17
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Financial results The consolidoted finonciol results OF the chority are shown in on poge 4 in Appendix A under Siolement of Financiol Activities. Below is o summory of the overall activity for the losi four years. Year ended 30 September 2023 2022 2024 2021 In¢ome Fundraising events Donation5 Legocies Subscriplions Inveslment and other income 2,169 3.614 78 196 105 2,592 3,110 27 2,346 2,584 587 260 885 2,693 40 300 122 254 119 6.162 11.2491 4.913 12,0161 2,897 6,102 11.3861 4,710 11,8931 2,823 5,895 11,2061 4,689 11,5371 3, 152 4,040 1393) 3,653 11,5491 2, 104 Cost of events Conlribvlion From lundroising octivity Operating ond ndraising costs Surplus of income over expenditure L•ss: Choritobl• oxpondifvrn Cricket Progrommes - Disobility 2.377 2.485 1.808 1, 141 Crickel Pr(¥rammes - Disadvantage Minibuses ond other grants Johnners Trust ,322 107 33 1,567 201 34 1,546 161 42 1, 126 140 20 3,839 {942) 4,287 {IA64) 1541 11,521) 3,557 (405) 12491 (054) 2,033 (329J 440 Net expendihlre before profits on investments Nel Ilossesl goins on inveslmenls Net (expenditure} in¢ome for the year {829} Funded by (from) to Unrestricted re5erve5 Restricted reserves Reserves designoled lor specilic projects 15351 193 11401 14441 jl,521j 13431 110 14211 133} 218 174J 13391 {829) Results for the Year The year to September 2024 showed a deficit of £535,000 on Unrestricted reserves. This included a net investment goin during the year of £1 13,000 In oddilion, the charity utilised £339,000 OF its designoled reserves, through investment in the new table cricket equipment, and investment in tronsformation projects. 18
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Operating and fvndraising costs All the operalionol costs of the charity ore related, either directly or indirectly. to our choriloble pvrposes. In looking at these it is imporlonl to oppreciote the judgments involved in how they are reflected in the annuol Finoncial stotements. The chority's structure falls into brood functional heodings and the following gives an indication OF how operational costs incurred in each of those areas are treated: Charitable Programme5 These individuals manage each of our programmes and also gather data lo enable us lo report on the impact of our programme5 to our supporter5 and to the general public. These are dIreCY attributable to the underlying programme5. Their role is to ensure thal os for as possible there is a good awareness of l)oth our charitable activity and ils impact on the lives of young people and those around ihem, and olso the events ihat we ore orgonising in order to raise funds to support our future aclivity. Their cosls are split belween charilable activity and fundraising. Their role is to develop long-lerm partnership and tundraisi ng opportunities with the prime purpose of raising funds for our charitable aclivity. These areas include corporale partnerships, trusts and foundalions, events, membership and support our regions with their activity. Their costs ore regarded as operating and fundraising cosl. Marketing and Communications Engagemenl and Portnerships Supporting oll of these activities are the central pon<hority areas including the Finance, People and CEO teom. Having regard lo the levels of oclivity and the volume of tronsactions, their costs are split beeen charitoble programme costs ond fundroisi ng and operating costs. OfFice and other related costs will generally be split on Ihe basis OF the payroll allocation, unless there is a clear reason For ollocolion into either Fundroising (for exomple investment monogement fees) or progrommes. Investments The chority's investments are managed by Close Brothers Assel Management Limited. The investment criteria comprise the following broad investment paromelers- Preservation of volve in reol terms,. Achieve copitol growth overoll lo targeted overoge onnual total return of 4/0 above RPI wos considered an appropriole lorget over the investment life OF the porrfoliol,- and Currently considered to be a medium-term porrfolio- i.e., 5 - 7 years. The risk profile was seen as low-medivm and the return is evoluated on o total relvrn Inoi distinguishing beeen copitol ond incomel bosis. As ot 30 September 2024 the investment portfolio wos volued ot £2,799,000. The porrfolio opened the year with a voluolion OF £3,359,000 and during the finonciol yeor £750,000 wos drown down. Adjusting for this drowdown indicotes a total return loss dvring the period of opproximately 6/. The portfolio comprises o mixlvre of equilies ond bonds ond Further onolysis is provided in the Finonciol statements. The Investment monoger hos confirmed Ihol if there was o requirement to occess cash, that oi leost 90/0 of the portFolio could be realised with o negligible impocl on volue. 19
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Reserves The reserves con therefore be summorised os follows: Unrestricted reserves lundesignaledl The Charity Subsidiaries General reserves to ensure conlinuity 1,792 131 1,923 Designated Funds National Cricket Centre 100 Funds set aside by Trustees for specific purposes Table Cricket Development Transformation Programme 40 205 345 Restricted reserves 315 Funds donated For specific purposes 2,583 Unrestri<ted Reserves The Trustees have considered the oppropriale level of unrestricted reserves hoving regord lo the identified risks thot could hove a seriovs impoct on the charity's ability to roise funds, ond in the context of Chority Commission Publication 19 'Building Resilience" In identifying the target level of unrestricted reserves, which would be reconsidered at the end of each finoncial year, the Trustees consider the difference beeen the level of expendilvre, including overheads and chorilable programmes, that they consider should represent conlinvolion of the current octivity ot on acceptable level, ond a conservotive level of income thol the Trustees con expect lo be received. The Trustees have considered budgeted total expendihjre, including charitoble expenditvre, fundraising costs and operating costs Istoff/oFFice coslsl ond, lo the extent thot is not covered by controcted restricted income, considered o detailed risk assessment. The ossessmeni looks at Five key oreos thot could be impacted on reserve levels. These ore in no order, cessotion, Income risk levels, Working capitol, Opportunity or Strategic ond odverse events. Using oll this insight to ossess the level of the generol reserves oppropriote For the chority to mointoin. They then hove determined ihal o range for reserves of £1,400,000 to £2,000,000 is oppropriate. The unrestricted reserves of the charity os of 30 September 2024 were £1,792,000. Designated Reserves The Trustees have created the Following designoted funds. Table Cri<ket Development Fund £40.000 balance. £20.000 expended in the year. This fund is held for our newly designed toble cricket eqvipment, Ihal is stored and then dislribvted. A smoll number still needs to be distributed which continues to hoppen until oll stock is cleared. This balonce will cover the Ironsportotion ond any ongoing storoge costs. 20
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Designated Reserves {<ontinued} National Cricket Centre. Worcester - £1 00.000. £400.000 transferred to Transformation fund. The Trustees originally set oside o sum of £500,000 nearly l O years ago for a potentiol investment alongside ECB and the University OF Worcester in a new dedicated inclusive cricket center, designed with the needs of people with a disability al its heart, owned ond operoled by the University of Worcester, ond to complement the New Road cricket grovnd which is to be the moin venue k)r mojor disobility cricket fixtures. Given that this project has nol progressed For mony yeors, members ond other stakeholders raised concerns that our Funds designated for this continued io remoin vnspenl at o time when we were increasing our investments into commvnity cricket programmes ond the slrotegic Ironsformolion of the charity. Therefore, following o review the Trustees took the decision to redesignate some of these funds to the tronsformotion fund such that this key investment was oble lo continue. Our policy is thol we remain committed to the Worcester Project but will require some clority and cerlointies from the University before we con make a fully informed decision os to whether we con continue to plan to invest fvnds into this project. We remain in discussions with Worcester University. Transformation Project - £206.000 balance. £319.000 expenditure in the year. The Trustees have set oside for the investment in systems and infroslrvcture ocross the charity, this is part of the current Strategy and Business Plan developed by the Executive Team and approved by the Trustees setting out the chority's ambition. This project is sel to end in 2025. The Ironsformotion projects are estimoled to cost £206,000 over the next year. Our Governance Structure Our primary purposes and publi¢ benefit We corry out a range of octivities with the main purpose of empowering young people from disodvontoged bockgrounds ond those with a disobility through crickel. We believe thot sport, ond particvlarly cricket, con help yovng people goin confidence as well as bvild sociol skills, leodership, and olso engoge with their communities. We believe Ihol this enhances their prospects in loler life. We therefore believe thot we meet the public benefit requirements os set out within the Chority Commission's gvidance. Fvrthermore, public benefit guidonce ploys o central role in developing our future strategy. 21
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Board of Trustees The Trustees, who ore also directors of the Compony under Company Low, as at the dole of Ihis report ore sel out on poge 2. The Trvslees who served during the finoncial yeor are as Follows= Tim Luckhurst Chair Suzy Forihing (née Chrislopherl Vice Choir Mike Galting Rachel Kirby-Rider Jenn Barnett Abeed Janmohamed Gordon Kennedy Col Sohal Froncis D'souzo Sukh jit Grewal Paul Walker Term served Februory 2025 Resigned April 2024 The Board would like to thonk Col ond Mike for their conlribulion lo both the Boord ond the chority during their term of off ice and look forward to their fvtvre support of the chority. How does an individual become a Trustee? The Board comprises vp to e1ve Trustees of whom: Three are elected by the Members; ond Up to Nine are Appointed by the Board, based on recommendations from the Nominations Committee. Elected Trustees Elected Trustees are voted on whenever an Elected voconcy arises by the Members of the Lord's Toverners, normally prior to the Annual General Meeting, for o term OF three yeors. When on elected Trvslee comes to the end of their thre year term, a voconcy is created ond Members ore invited to put themselves forward for consideration os a condidote in the elections. Nominations Committee consider the opplicotion bosed on current Board requirements and then, if oppropriate, put the condidole forward to Members for Election. No Elected Trvslee is allowed to serve more thon nine consecutive yeors in office. Appointed Trustees If the Trustees, in discussion with the Nominations Committee, do nol consider thol there ore the requisite skills on the Board, then they have the right to oppoinl vp to Nine odditionol Trustees lo provide those skills. The Nominations Committee is then asked io oversee the process whereby individuols can opply to become a Trustee, be interviewed, ond then be recommended to the Board. Appointed Trustees ore for terms OF up to three years, after which their re- oppointmenl would be reviewed. No Appointed Trustees is ollowed io serve more than nine consecutive yeors. The Nominations Committree has specific responsibility For the monogemenl of the election or ballot process for the election of Elected Trustees, including the provision of guidonce to the Trustees ond to the Members on the strengths ond weoknesses OF condidates in those elections. In oddition, it olso provides guidance lond if oppropriate will moke recommendations) to the Trustees on condidotes for Appointed Trustee positions. To ensure its independence, the mojority of the Committee's members are not Trustees. 22
THE LORD'S TAVERNERS LTD
Year ended 30 September 2024
REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS)
Trustee delegation and
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Our Committees The Trustees have established o number OF committees in order lo hove oversight of various ospects of the Charity. Eoch committee has its own terms of reference, is chaired by o Trustee ond eoch meets ol leosl four limes a yeor. The principal Committees ore os Follows: Governance and Finance Focuses on ihe Chority's governonce and compliance matters, as well as oversight over finoncial matters ocross the Charity- It will also consider ihe audit and auditor independence, oversee Inveslment Management, and consider the Charity's internal controls. It also works wilh the executive team to ensure that there is a framework i n place for transparency, accountability and risk management. It meets at leasi four times a year and is choired by Truslee Francis D'souza. Committee Members are David Baxondale, Nick Govin-Brown, Nigel Halkes and Sophie Kilvert. Charitable Programmes Oversees all of the aclivity of the charitable programmes team, including approval of new initiotives, and considerotion of issues arising out OF the programmes. It also works closely wilh the executive leam in considering oreas OF impact, and the processes in place for monitoring and evaluation of the effectiveness of programmes. It meets at least four limes a year and is chaired by Trustee Paul Walker. Committee Members are Paula Koutroubis, Ajay Sharma, Shruit Saujani. Fundraising and Marketing Works wilh the executive team on Ihe areos of membership, marketing ond fijndroising, deboting new initiotives ond cvrrent trends. li will consider areas of brond, exlernol communication, portnerships, statvtory funding ond fundraising campaigns, os well as considering woys to enhonce existing aclivity. It meets ot least four times o year and is chaired by Trustee Rochel Kirby-Ryder. The other Trustee representatives ore Svkhjit Grewol ond Gordon Kennedy. Committee Members ore Tommy Lloyd, Ben Siogg. Anush Newmon, Geroinl Jones and Jamie Grohom. People and Culre The People and Culture Committee takes delegated responsibility on behalf of Ihe Trustees for the oversighi of the people and culture strategy embedding of Ihe Charity's values and culture into and across ihe organisalion. It is responsible for responsible for ensuring safe9uardin9 rules are integrated into the people and culture plan and oversee safeguardin9 of employees. volunleers and members. It meets at least four times a year and is chaired by Trustee Jenn Barnett. Suzy Farthing is Ihe Safeguarding Trustee. Committee Members are Tracy Warrington, Marion Inkster, Peler Johnson and Rebecca Fox. Transformation This committee was sel up in year to support the delivery of the Iransformalion programmes. It main purpose is to agree high-level ai ms/strategy of the projects. Check and challenge on the budgeting and planning of the projects and monior risks. Approve projecls to launch, and reportin9 lo board like the other committees. It meets a least four times a year and is chaired by Trustee Abeed Janmohamed. Committee Members are Sieve Thomas and Bernadette Gilbert. As well as Members with appropriate expertise and members of the Executive team, the Chair of a Committee can also invite individuals who are outside of the Charity to sil on Committees where iheir expertise is considered appropriate. 24
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Risks The Trustees, with the Senior Leadership Team, review the risk register on a regular basis. This is lo ensure Ihot there is a cleor recognition of the significont risks for the chority and ihol there ore plans in ploce, os for as is reasonably proclical, to mitigole those risks. The Trustees, odvised by the Governonce and Finonce Committee, hove identified the key risks ond have pul in place a number of procedures in order to, os Far os possible, sofegvord the charity from those risks. The principle risks ore.. Safeguarding Sofegvording applies ocross oll of the chority's activities, and relates to every individuol who comes into contact with us, whether they ore participants, svpporters, staff, trustees, volunteers or members of the public. The chority has established clear channels of communicotion in relotion to the reporting ond monogemenl of safegvording incidents. ond has enhonced its internol troining progrommes. In relolion to our cricket progrommes we continue to work closely with the ECB io ensure thai the programme coaches ore fully trained and hove the obility to raise concerns. To support Trustees we have an independent consvltation ponel who ossist on procedvres ond policies. Fundraising Income and financial stability Unlike many charities, the Lord's Taverners derives income from a nvmber of sources. That having been sold the pandemic hos shown ihal significant income streoms lsvch os fundraising events) can swiftly come to o holt. Our portnerships with People's Postcode Lottery, England ond Wales Cricket Board, Sport England and Berkeley Foundation are significant however there remains a need to expand our ronge of fundraising to redvce our relionce on a hondful of key funders, or a single income stream. Diversificotion and slrengihening the income streams for the chority is o core port of the Strategy ond Business Plan approved by Trustees ond now being implemented by the Executive Teom. This includes enhonced skills and experience, ond improved systems ond pipeline management. Governance The Lord's Taverners is a Company limiled by guarantee, where our Members are our "shareholders" for companies act purposes. This 9ives us the ethos of a membership charity. as has been parl of the charity's culture since it was founded in 1950. In the current environment il is essential that the charity conforms wilh all of the governance requiremenls, and indeed reflects best charity sector practice wherever possible. The Truslees conlinue to focus on ensuring good governance and have improved Ihe balance of the Board to ensure il can have access to the most appropriale skills and lived experiences around Ihe table, and enhancin9 the role of the Nominations Commillee to help ensure this is achieved. Media and Social Media Inappropriate commenls on social media or within the media can, in the digital age, quickly gain momentum, wheiher they genuinely reflect the views of the charity or nol. The charity conlinues to review and enhance its Sy5tem5 for managing and monitoring Social media, providing guidance to volunteer5 - particularly those in organising events, improving briefings for speakers at our events, and enhancing our communication framework generally. 25
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Risks (¢ontinued) Asset resource management / Organisation change Good managemenl of our assets and resources, be they people, property, investmenls, brand5. repulalion. or programmes, is an essential part of good governance. Each of these areas, while delegated on a day-t(>day ba51S to the executive team. is overseen by a particular committee lo ensure that the charity has strong inlernal controls. effectively manages all of its asset5, and, for example, in relation to 5tafF and volunteer5 provide the appropriale training and iools for ihem lo develop. The executive team ha5 been strengthened through the recruitment of a Director of People and Organisational Development. working c105ely with the executive team on ensuring ihe charity ha5 a well skilled and motivated work force, and a150 with Truslees around the Board and Committee memberships. Cyber / Data protection Proteclion of our dato contained on our membership and supporter dalabases and security around all of our IT systems - particularly i n a time of hybrid working is conslanily monilored. Following ihe review of IT security and systems and in the light OF changes in doto legislolion, the charity is currenily undergoing an independent review around data monogemenl, policies, procedures and retenlion ensuring that the charity is complying with all relevant legislalion, and that staff and volunteers have ihe right levels of knowledge and experience in this area. In line wilh besl practice, the charity hos appoinled an independent dala expert as their Data Prolection Officer, enabling an objective assessment of praclices and policies to be applied. 26
THE LORD'S TAVERNERS LTD Year ended 30 September 2024 REPORT OF THE TRUSTEES {INCORPORATING THE REPORT OF THE DIRECTORS) Statement of Trustee Responsibilities The Trustees, who ore also directors of the choritable company, ore responsible for preparing their report and the finoncial stotements in accordance with opplicoble low ond regulotions. Compony law requires the Trustees to prepare Finoncial stotements for eoch financial yeor. Under ihoi law the Trustees hove elected to prepare the Finoncial stotements in occordonce with United Kingdom Generolly Accepted Accounting Practice (United Kingdom Accounting Stondords ond applicoble lawl- The Finoncial stotements are required by low to give a true ond foir view of the state OF the offairs of the choritoble compony ond the group and of the surplus or deficit for thot period. In preparing these Finonciol statements the Trustees ore required io.. Select suitable accounting policies ond opply them consistently Observe methods ond principles in the Chorities SORP Make judgements ond estimoles thot ore reosonable and prudent Stole whether applicable occovnling standards hove been followed, subject lo any moterial departures disclosed and exploined in the Financial stotements Prepore the finonciol slolements on the going concern bosis unless il is inappropriate to ossume that the charitable company will continue in operotion The Trustees are also responsible For keeping proper occounting records that disclose with reasonable occvrocy at ony time the finonciol position of the choritoble compony ond enoble them to ensure that the financial slolements comply with the Companies Act 2000. They are also responsible for sofeguording the assets of the choritable company ond hence For toking reosonoble steps for the prevention and detection of froud ond other irregularities. Statement of disclosure to the auditors So Far as the Trustees are aware: lol there is no relevont audit informolion of which the Company's auditors ore vnowore, and Ibl they hove token oll the steps that they ought lo have taken as Trvslees in order to make themselves aware of any relevont audit information ond to establish thot Ihe Compony's auditors ore oware of that informotion. Going Con<ern The Trustees have assessed whether the use of the going concern ossumption is appropriate in preparing these occounls. The Trustees have made this ossessment in respect OF a period of one year from the dote ol opproval of these Finoncial slalemenls. The Trustees of the charity hove concluded ihol there ore no molerial vncertainlies reloted to events or conditions thot may cast significoni doubt on the ability of the charity to continue os o going concern. The trustees hove given consideration lo projected forecasts of fijture donations against underlying costs and ore of the opinion thot the chority will have sufficient resovrces lo meet ils liobilities as they foll due. Auditors In occordonce with Section 485 OF the Componies Act 2006 0 resolution proposing thot Hoysmocintyre LLP be r oppointed as auditors will be put to the Annual Generol Meeting. Approved by the Trustees on 9 April 2025 ond signed on their behalf by: Tim Luckhurst Choir of Trustees 27
THE LORD'S TAVERNERS LIMITED Year ended September 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE LORD'S TAVERNERS LIMITED Opinion We have audited the financial statemenls of the Lord'5 Taverners Limited for the year ended 30 September 2024 which comprise Consolidoted and Charity Statement of Finoncial Activilies, the Group and Charity Balance Sheets, the Consolidated Sialement of Cash Flow and the notes lo the financial statements, including a summary of significant accounting policies. The financial reporting Framework ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial ReFX)rting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountin9 Praclicel. In our opinion, the financial statements.. give a true and Fair view of the state OF the group's and of the parent charitable company's affairs as al 30 September 2024 and of the group's ond parent charitable company's nel movemenl in funds, including the income and expenditure, for the year then ended,- have been properly prepared in accordonce with United Kingdom Generolly Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment Iscoilondl Act 2005 ond regulolion 8 of the Charities Accounts Iscodandl Regulotions 2006. Basis for opinion We conducted our audit in accordance with Inlernationol Slondards on Auditing IUW IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's resF)onsibililies for the audit of the financial statements seclion of our report. We are independent of the group in accordance with the ethicol requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe Ihal the audit evidence we have obtained is sufficient and appropriate to provide a basis For our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the truslees. use OF the going concern basis of accounting in the preparation of the financial slotemenls is appropriate. Based on the work we have performed, we have not idenlified any malerial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue a5 a going concern for a period of al least h¥elve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this reFX)rt. Other information The Iruslees are responsible for the other information. The other inforniation comprises the information included in the Trustees, Report and the Chair's Introduction. Our opinion on the h-nancial statements does not cover the other information and, except Fo the exFent otherwise explicitly statsd in our reF)Ort, do not express any Form of assurance conclusion thereon. In connection with our audit of the h-nancial stotemenls, our responsibility is to read the other information and, in doing so, consider wheiher the other inFormation is materially inconsistent wilh the financial slaternenls or our knowledge obiained in the oudil or otherwise oppears to be moteriolly misstoied. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the h'nancial statement5 or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mis5talement of this other inFormalion, we are required lo reFX)rt that fact. We have noihing to reFX)rt in this regard. 28
THE LORD'S TAVERNERS LIMITED Year ended September 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE LORD'S TAVERNERS LIMITED (CONTINUED) Opinions on other matler5 pre5¢ribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Truslees, Report Iwhich includes the strotegic report and Ihe diredors, report prepared for the purposes OF comFxJny lawl for the financial year For which the financial statements are prepared is consistent with the financial stalemenls,. and the strategic report and the directors, report included within the Tru5tees' Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understonding of the group and the porent charitable company and its environment obtained in the course of the audit, we have not identified material mis5talements in the Tru51ees' Report (which incorporates the slralegic report and the directors, report). We have nothing lo report in respect of the following motters in relation to which the Companies Act 2006 and the Charity Accounts Iscotlandl Regulations la5 amended) us to reF)Ort to you if, in our opinion.. adequate accounling records hove not been kepl by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us,. or the parent charitable company financiol statements are not in agreement with the accounting records and relurns,. or certain disclosures of Frustees, remuneration specified by law are not made,- or we have not received oll the information and explonolions we require for our audil. Re5pon5ibilities of trustee5 for the financial statements As explained more fully in the truslees, resF)onsibililies Stalemenl sel out on F)age 27 the trustees (who are also the directors of Ihe chorilable compony for the purposes OF company lowl are responsible For the preparation of the Financial statements and for being salisFied that they give a true and fair view, and for such internal control as the trustees deFermine is necessary to enable the preparation of financial stotemenls th are free from material misstalement, whether due to fraud or error. In preparing the financial slotements, the tnjstees are responsible for assessing the group's and the parent charilable company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidale the group or the parent charitable company or to cease operations. or have no realistic aliernalive bul to do so. Auditor's responsibilities for the audit of the financial 5tatement5 Our objective5 are lo obtain reasonable assurance about whether the financial statements as a whole are free From material misstatement, whether due lo fraud or error. ond to issue an avditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl when il exists. Misstatements con arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalemenls. Irregularities, including froud, are instances of non<ompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to deled material misslatements in respect of irregularilies, including fraud. The extent to which our procedures are capable of delecling irregularilies, including fraud is detailed below.. 29
THE LORD'S TAVERNERS LIMITED Year ended September 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE LORD'S TAVERNERS LIMITED (CONTINUED) Based on our understanding of the group ond the environment in which il operates. we identified that the principal risks of non<ompliance with laws and regulthions related to Charity Law and Company Law and we considered the extent to which non<ompliance might hove o material effed on the financial slolements. We also considered those laws and regulation5 thal have a direct impad on the preF)aration of the financial statements such as the Companie5 Act 2006 and the Charities Act 2011, ond consider other fodors such as payroll tox and soles tax. We evaluated managemenys incentives and opporhJnities for fraudulent monipulotion of the financial statements (including the risk of override OF conlrolsl. Audit procedures performed by the engagement leam included= Inspecting corresFX)ndence with regulators and lax QhOrIties,- Discussions with management including consideration of known or suspected instances of non<ompliance with laws and regulation and fraud,- Evaluating management's controls designed to prevent and deled irregularities,. Identifying and testing journals,. and Challenging assumptions and jvdgemenls made by management in their critical accounting estimates Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstalemenl in the financial stotemenls or non<omplionce with regulation. This risk increases the more Ihal compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non<omplionce. The risk is also greater regarding irregvlarilies occurring due to Fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion, ornission or misrepresentation. A Further description of our respJn5ibilities for the audit OF the financial statemenls is locatsd on the Financial Reporting Council's website al.. www.frc.or auditorsres onsibilities. This description forms port of our auditor's report. Use of our report This report is made solely b the charitable company's members, as a &)dy, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 441 I Ilcl of the Charities and Trustee Inveslmenl Iscodondl Act 2005 and regulation l O of the Charilies Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we might slate to Ihe charitable company's memktrs those matters we ore required to state to them in on Auditor's report and For no other purpose. To the Fullest exFenl permitted by law, we do not accept or assume resFX)nsibility lo anyone other than the charitable company and the charitable company's members as a body. for our oudil work, for this report, or for the opinions we have formed. Thomas Wilson (Senior SlahJlory Auditor) For and on behalf of Haysmac LLP, Statutory Auditor l O Queen Street Place London EC4R I AG li April 2025 30
THE LORD'S TAVERNERS LIMITED Year ended September 2024 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure account) For the year ended 30 September 2024 Unrestrickd Funds Note General Designale Restricted Funds Total 2024 Total 2023 £'ooo £'ooo Income Income and endowments from: Fundraising events 2,144 25 2,169 2,592 Voluntary income Donalions Legacies Subscriptions and entrance fees Investment and other income 1,293 78 190 105 2,321 3,614 78 196 105 3,110 27 254 119 Total income 3.816 2,346 6,162 6,102 Expendilure Raising funds Fundraising activities 2,889 319 57 3,265 3,279 Charitable a<tivities Cricket programmes - Disability Cricket programmes- Disadvantage Minibuses and other gronls Johnners Trust 331 1,160 51 33 20 2,026 162 56 2,377 1,322 107 33 2,485 1,567 201 34 1,575 20 2,244 3,839 4,287 Total expendilure 4.464 339 2,301 7,104 7,566 Net income {expenditurel before profits on investments Net reolised ond unrealised Ilossesl gains on investments 16481 13391 19421 11,4641 113 113 157) Net income {expenditure} for the year 15351 13391 45 18291 11,5211 Inter hJnd transfer Net movement in fijnds For the year 15351 13391 45 18291 11,5211 Balance5 broughi forward at l October 2,458 684 270 3,412 4,933 Balances carried forward at 30 September 16 1,923 345 315 2,583 3,412 The consolidated accounts reflect the activities of the Charity and its subsidiaries All amounts relate lo continuing activities. There are no recognised gains and losses for the CLsrrent financial year and the preceding financial period other than as shown above. The notes on pages 34 to 48 form F)art OF these financial statements. 31
THE LORD'S TAVERNERS LIMITED Year ended September 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE CHARITY ONLY (incorporating the income and expenditure account) For the year ended 30 September 2024 Unrestrickd Funds General Designale Restricted Funds Total 2024 Total 2023 £'ooo £'ooo £'ooo Income Income and endowments from: Fundraising events 2,129 25 2,154 2,592 Voluntary income Donalions Legacies Subscriptions and entrance fees Investment and other income 1,293 78 194 104 2,321 3,614 78 194 104 3,110 25 252 117 Total income 3,798 2,346 6,144 6,096 Expendilure Raising funds Fundraising activities 2.864 319 57 3,240 3,279 Charitable a<tivities Cricket programmes - Disability 332 20 2,026 2,378 2,485 Cricket programmes - Disa&antage Minibuses and other grants Grant to the Johnners Trusl 1,160 51 102 56 1,322 107 1,567 201 1,543 20 2,244 3,807 4,253 Total expendifvre 4,407 339 2,301 7,047 7,532 Net income {expenditure) before profits on investments Net realised and unrealised Ilossesl gains on investments 16091 13391 19031 11,4301 113 1571 Net income {expenditure} for the year 14901 13391 45 17901 11,4931 Inter hJnd transfer Net movement in funds For the year 14961 13391 17901 11,4931 Balances broughi foward at i October 2,288 684 270 3,242 4,735 Balances carried forward at 30 September 1,792 345 315 2,452 3,242 All amounts relate to continuing activities. There are no recognised gains and losses for the current financial year and the preceding financial period other than as shown above. 32
THE LORD'S TAVERNERS LIMITED Year ended September 2024 BALANCE SHEETS Company Number: 582579 At 30 September 2024 Group Charity 2024 2023 2024 £'ooo 2023 Notes FIXED ASSETS Tangible fixed assets Intangible fixed as5els Investments - in subsidiary other inveslmenls 40 68 20 40 68 20 2,799 3,359 2,799 3,359 2,855 3,447 2,855 3,447 CURRENf ASSETS Stock Debtors Cash al bank and in hand 253 030 645 I,oii 253 540 640 887 880 1,665 796 1,536 CREDtTORS: amounts falling due within one year 11,1581 11,7001 11,1991 11,7411 NET CURRENT ASSETS (UABIUTIES) 12721 1351 14031 12051 TOTAL ASSETS LESS CURRENT LIABiufiES BEING NEf ASSETS 2,583 3,412 2,452 3,242 Represented by. Unreslricled funds.. General funds Designated hjnds - Johnners Trust 1,792 345 131 2,287 684 171 1,792 345 2,288 684 2,268 3,142 2,137 2,972 ReslricFed funds 315 270 315 270 2,583 3,412 2,452 3,242 The financial 5Falements were approved and authori5ed for issue on 9 April 2025 and were signed below on 115 behalf by= Trahcli P'SoHza Tim Luckhursl Chair of Trustee5 Francis D'souza Finance Trustee The notes on pages 34 10 48 form port of these financial statements. 33
THE LORD'S TAVERNERS LIMITED Year ended September 2024 CONSOLIDATED STATEMENT OF CASH FLOWS AND NOTES For the year ended 30 September 2024 2024 2023 Cash flows from operating aclivihes Nel cash used in operating activities - see below. 1858J Cash flows from investing artivities Dividends and interest from inveslmenls Purchase of tangible and intangible assets Nel change in investment cash Proceeds from sale of investments Purchase of investments 105 121 {28J 347 1,347 1783) 75 1,403 18051 Nel cash provided by investing aclivilies 770 1,004 Change in cash and cash equivalents in the financial year Cash and cash equivalenls at beginning of financial year 13811 140 I,oii 805 Cash and cash equivalenls at the end of the financial year 630 1,011 NOTES TO THE CASH FLOW STATEMENr Reconciliation of net income to net cash flow from operaling activities et expenditure for the year las reF)Orted in the Consolidated Slatemenl of Financial Acliviliesl Deprecialion charges Nel Igoinsl/losses on investments Dividends and interest from investments Increase Idecrea5el in stock Increase in debtor5 (Decrease) in creditors 1829J 39 1113) {105J {1,5211 50 57 1121J 16 712 (57J 392 154 IJ Net cash used in operthing aclivilies (1,151] 1858J Analysis of net debt Opening cash balances 1,01 i 805 Nel cash loutflowsl/inflows For the year {38 IJ 140 Closing cash balances 630 1,01 I 34
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 September 2024 ACCOUNTING POLICIES The Lord's Taverners Limited is a private charitable company limited by guarantee Ino 5825791, registered in England and Wales al the registered off ice shown on page I, and also registered as o charity with the Charity Commission in England and Wales Ino 3000541, and the OfFice of the Scottish Charity Regulator IOSCRI Ino SC0462381. The charitable company is a public benefit entity as defined in Financial Reporting Standard 1021"FRS102"1. Basis of accounling The financial slalements are prepared in accordance with ComF)anies Acl 2006 and the Charities Act 2011 and Accounting and Reporting by Charities= Siolement of Recommended Practice applicoble lo charities (the "SORP") preparing their accounts in accordance with FRS102, the Financial ReFX)rting Standard applicable in the UK and Ireland. A going concern basis has been adopted and Ihe Irustees consider that no molerial uncertainties exist about the charity's ability to continue for the foreseeable future. Assets and liabilities are inilially recognised at historical cost or transaction value unless Otherwise Staled in the relevant accounting policy notes. The Trustees consider that there are no areas of eslimotion uncertointy in preparing these accounts which give rise to a signiFicant risk of an adjustment being required in a subsequent period to the carrying value OF Ihe assets or liabilities. The consolidated financial statemen15 comprise the financial slalements OF the Charity and ils subsidiary undertakings, Lord's Taverners Enterprises Limited. Lady Taverners Limited. Lord's Toverners Kil Recycling Limited and the Johnner5 Trust, on a lin&by-line basis. The Lord's Tovemers 15 a corporate truslee of Johnners Trust and exercises control over the oppointmenl OF the other trustees. b) Charity Statement of Financial Aclivilies The Charity had total incoming resources in the year of £6,144,OCK)12023.. £6,096,000) including nel reali5ed and unrealised gains on investmentsl and totol resources expended of £7.047.000 including nel realised and unrealised losses on investment512023.. £7,532,000). Net expendihjre For the year was £790,(J)012023: nel expenditure of £1,493,000). Fund accounting General funds are unrestricted hjnds which ore avoiloble for use al the discretion of the Trustees in Furtherance of the general objectives of the Charity and which have noi been designated For other purpose5. They include the unreslricFed reserves of Lord's Taverners Kit Recycling Limited. Designated fund. The designoled fvnds are unrestricted fvnds earmorked for speciFic purposes by the Trustees. The Designated funds cover Ihe activities that are set oul in the Trustees Annual ReFX)rt on page 18. Johnners Trust. Unrestricted funds which are available for use al the discrelion of the Trustees of the Johnners Trust in Furtherance of the general objectives of that Trust. Reslricled funds are funds which are lo be used in occordance with specih-c restrictions imposed by the donors or which have been raised by the charity for 5peciFic purF)oses. 35
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 ACCoU1NG POUCIES (continued) d) Income Income is recognised when the charity ha5 entlernent to the funds, any performance conditions attached lo the income has been met, it is probable that the income will be received and the value of that income can be measured reliably. Specihcally.. Income from grants to the charity are recognised on the above basis. Where grants are restricted to specific aclivilie5 and the expenditure relating lo those oclivilies is expected to ctcur in a hjture period then the grant lor a proportion thereofl is carried forward to next year as part of Restricted Reserves Legacies are recognised as income where the charity has been notified OF an entiilemenl, Ihe value of that entiilemenl can be established with reasonable certainty, and its distribution has been confirmed. usually by way of confirmation from the executor. Donations are recognised when the charity is notified OF them, conditions associated with the donations have been met, and their receipt is certain. Income and expenditure conneded b hndroising events are rewrted separately and recognised in the period lo which the Fundraising event related. Annual subscrffPtions are treated on a cash basis. Related gift aid is recognised when a claim 15 made to Her Majesty's Revenue & Customs. Investment income is accounted for when receivable and includes the related lax recoverable. Donations of gifts. services. and facilities The charity receive5 donations of audion itern5 and raffle prizes, many of which are unique or not available on the open market. In addition, our event organisers. both notionally ond regionolly, negotiate supply agreements on the basis of the charity's status and receive use of exclusive facilities not available lo the general public. Similarly, our ChariFable Programmes team will negoliale venves to host our aclivilies al reduced charity rates or on a Fretruse basis. As such the Trustees consider it impractical lo be able to ascribe a value b the various donated gifts, service5 and Facililies. f) Expenditure Expenditure is recognised on an occrvals basis and excludes recoverable VAT. Costs of fundraising events comprise direct costs of the events, the cosls of hJndraising staff and a proportion of attributable overhead costs. Expenditure on charitable aclivilies comprises all expenditure dIreY related to the objects of Ihe Charity and includes grants payable, which ore recognised when the 9ranl becomes unconditional and has been fully funded by income. Charitakile activities also include the costs OF staff directly involved with charitable cclivilie5 as well as a proportion of attributable overhead costs Governance costs comprise expendihJre relaling to the governance and stralegic management of the Charity and it5 subsidiaries and include Ihe cosls of statutory compliance, audit fees, Trustees, expenses, legal fees where these are related lo strategic issues and o proportion of overheod cosls where these can be attributed to the governance arrangements of Ihe group. Governance costs also include the costs OF the meetings of Trustees and other committee meetings. Governance costs are allocated behyeen Fundraising and Charitable activities Prrat0 lo other non<haritable direct overhead5. 36
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 ACCOUNTING POLICIES (continued) Direct payroll and other costs thal relate to charitable adivilies have been included in charitable giving. Staff and support costs relating to more than one activity have been cllocaled to adivities on a k)asis consistent with the use OF the resources, including an eslimole of the proportion of time that is spent on those aclivilies. That apportionment is then used as a basis For allocating office overheads. Costs incurred in connection with the end of an employment relationship, outside of those contained in the contract, are recognised at Ihe dote employmenl ceoses. g) Tangible and intangible fixed assets and heritage assets Gifted Art, regarded as herilage assets, is held at valuation wheie such valuations are available. They were last valued in 1997. Depreciation has been provided to write off tangible fixed ossels evenly over their expected useful lives. Depreciation is also charged on heritage assets as these are believed to have finite lives. The rates of depreciation applied to assets are: Gifved ort OFFice equipment Trodemorks 2% per onnum 33.3% per onnum l 0% per annum h) Investments Investments in subsidiary vndertokings are held at cost less any impairmenl in value. Quoted investments are valued at fair-value at the balance sheet dale. Realised and unrealised gains and losses are included in the Statement of Financial Aclivilies. Sto¢k Stock is stad al the lower of cost and net realisable value. Leases Rental costs on operafing leoses are charged to the statemenl of financial adivifies over the period of the lease, with Ihe benefit OF any payment-free periods being spread over the terrn of the lease. Pensions The Lord's Taverners conlribules to a defined contribution pension scheme for all ils employees. The charge in the year represents contributions paid during the year. Judgments and estimales The key judgments and eslimales used in the preparation of these financial statements are as follows: k) The deprecialion of tangible lixed ossets ond amortisotion of trademarks,. The split of 5UPPOrt costs between charitable and fundraising activities,. Recoverability of debiors. There are no other key assumptions covering ihe fure and other key sources of estimation or uncertainty al the reFlOrting dale that have a significant risk of causing a material adjustment to the carrying amounts of asset5 and liabilities within the next finonciol year. 37
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 FUNDRAISING EVENT INCOME 2024 2023 Ticket sales to events Auclions Raffles External SUPFX)rt (includes restricted income of £25,000 2022.. £69,0(x)I oiher fundraising aclivilies 203 97 252 92 21 76 419 69 304 Central hJndraising 673 860 Regional fundraising Johnners Trus1 1,481 1,732 2,169 2,592 DONATIONS - 2024 Total 2024 £'ooo Unrestrickd Restricted £'ooo Cricket programmes- Disability Cricket progrommes - Disadvanloge Minibus and other gran15 Other 2,001 193 41 86 2,001 193 41 1,379 1,293 1,293 2,321 3,614 Donations - 2023 Total 2023 £'ooo Unrestrictsd Reslricted Cricket programmes - DisabilAty Cricket progrommes - Disadvantage MNnibus and other grants Other 1,810 212 121 1,810 212 121 967 967 907 2,143 3,110 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest and investment income 105 119 38
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 COSTS OF FUNDRAISING AcllviTIES - 2024 Total 2024 Central Regional £'ooo Direct costs of evenls Fundraising staff cosls Premises costs Depreciotion Investment management fees other overhead costs 399 1,076 92 21 17 810 850 1,249 1,076 92 21 810 2,415 850 3,265 Costs of Fundraising Aclivities 2023 Central Regional 2023 Dired costs of events Fundraising staff costs Premises costs DeprecialNon Investment management fees Other overhead costs 430 955 157 27 22 732 950 1,386 955 157 27 22 732 2,329 950 3,279 CHARITABLE ACTIVITIES - 2024 Direct charitable expenditure Staff and support costs Total 2024 £'ooo Cricket programmes - Disability Crickel Programrne5 - Disadvantage Minibus and Olher grants Johnners Trust 1.350 785 91 33 1,027 537 2,377 1,322 107 33 2,259 1,580 3,839 Charitable Artivilies - 2023 Dirert charitable expenditure St(rfF and support costs Total 2023 £'ooo CrAcket pro9rammes - Di50bility Cricket Progrommes - Disadvantage Minibus and Other grants Johnners Trusfr 1,489 797 150 34 990 770 45 2,485 1,507 201 34 2,476 1,811 4,287 39
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2023 CHARITABLE A1VITIEs - Continued Stcff and support costs above, and premises costs included in note 5, include £173,25812023= £198,151) rent expense under operoting leases in respect of premises. Direct charitable expenditure includes £43,000 12023.. £43,000) rent expense under operaling leases in respect OF premises. The amounts F)aid in the year for rentwere £173,32412023 £241,151). Direct charitable expenditure aknve includes grants in relation to 47 individuals totaling £23,500 12023: 38 individua15 lolaling £19,000) and 3 organisations bknling £133,087 12023.. 4 organisalions totaling £170,023). GOVERNANCE COSTS Governance cosls included in Support Costs comprise (for information): 2024 2023 Audilor's Fees - for audit Meetings, AGM ond eleclion costs Legal and proFes5ional fS Attributable staff time 30 29 26 03 206 187 237 324 Auditors did not receive fees for other services connecled to governance in the year.12023.. £7,750) STAFF COSTS 2024 2023 Salaries and related costs Social security costs other pension costs Inole I lill 1,877 212 iio 1,816 202 100 2,199 2,118 The following employees received more than £60,000 lexcluding Nalional Insurance and benefits) in the Financial year.. £1 I0.000- £120,000 £90,000- £100,000 £70,000 - £80,000 £60,000 . £70,000 The remuneration of the Senior Leadership Team for the year including national insurance, pension and other benefits was £486,436 12023.. £649,3001. Non-stotutory poyments were made in connection with the departure OF employees totaling £44,025 in the year12023.. £30,426). The average number of staff employed during the year (full time and Fxjrt limel was: Fundraising, regional supp)rt and administration Charitable Giving Governance and stralegy 29 27 42 The Charity employed 4712023: 401 full time equivalent employees during the year 40
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2023 STAFF COSTS Continued The Charity has approximolely 30 octive regionol committees organising events and raising money to SUPFX)rt our charitable causes. Each OF these committee5 comprises up Fo l O individua15, all volunteers, who are supported by their own neorkS of sUPPOrters. No costs are reflected in these financial statements in respect of the contribution of unpaid volunteers. TRUSTEES REMUNERATION AND EXPENSES Costs relating to Trustees, meeting5 and travel costs were £1,817- Four IrusFees 12023: £2,331 Trusleesl Four I O. TANGIBLE FIXED ASSErs Office furniture, fittings and quipment Gifted art Total Group and charity Cost or valualion At 30 September 2023 Additions in the Year Disposals in the Year 51 351 402 At 30 September 2024 51 358 409 Depreciation At 30 September 2023 Charge for the Year Disposals in the Year 24 310 29 334 35 At 30 September 2024 30 339 369 Nel Book Value At 30 September 2023 27 41 68 At 30 Sepfember 2024 40 INTANGIBLE FIXED ASSErs TradeMaS Group and charity Cost or valuation AI 30 September 2023 Additions in the Year 83 AI 30 September 2024 84 Depreciation AI 30 September 2023 Charge for the year 64 AI 30 September 2024 68 Net Book Value AI 30 September 2023 20 Af 30 September 2024 10 41
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 12. SUBSIDIARY UNDERTAKINGS AND OTHER INVESTMENTS Subsidiary undertakings Active Subsidiaries The Charity is a corporate trustee and member OF the Johnners Trust (Formerly the Brian Johnston Memorial Trust) company number 03004117, Charity number 1045946 ond hos the power lo appoint the other trustees. The financial statemen15, which will be filed with the Registrar OF ComFJanies and the Charity Commission, are summarised below. Johnners Trust 2024 2023 Incorne Expenditure 19 1591 1331 Net income for the year 1401 {271 Funds broughi forword 171 198 Funds carried lorward and netr ossets 131 171 Inaclive Svbsidiaries The Charity owns IOO/o OF the issued Share capilal of Lord's Taverners Enterprises Limited (company no. 036027251 and Lady Taverners Limited (Company no. 07535181 I, ly)th companies are registered in England and Wales, were dormant throughout the period and had net assets of £2 and £1 respectively. The Charity, through it5 ability to appoint Trustees, controls Lord's Tavemers IGt Rerycling LimId (Company no. 7593015, Charity no. 11476211 with nel assets OF £551 12023.. £5511 Other Investments The investment portfolio of the Charity was managed during the financial year by Close Assel Managemenl Limited. The movement in investments for the year was os follows= 2024 2023 Inveslments Opening balance Acquisitions al cost Disposals at C05t (Proceeds £1.403,0(X), 2023 - £1,237,000, Profit on disposal £21.000, 2023 - £11 I ,(M)01 Unrealised Ilossl profit for the year 3,276 805 11,4031 3,898 783 11,237J 42 fl68J Closing balance 2,720 3,270 Inveshnent Cash Openin9 balance Transfer to Lord's Tavemers bank account Acquisitions al cost Proceeds on disposal Other cash movements 83 17501 18051 1,424 135 430 11,000) (7831 1,347 89 Closing balance 79 83 Total Investments at Market Value at 30 September 2024 2,799 3,359 Total Investments at Cost at 30 September 2024 2,757 2, 978 42
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 12. SUBSIDIARY UNDERTAKINGS AND OTHER INVESTMENTS (continued) Represented by: 2024 2023 Fixed Income Securities UK Equities cer5e05 Equities Alternative ond Propety Investments Cash 1,010 424 791 495 79 1,012 560 1,089 615 83 2,799 3,359 13. STOCK Group 2024 Charity 2024 2023 2023 Merchandise For Resale 14. DEBTORS Group 2023 Charity 2024 2024 2023 Trade Debtors Debtors in respect of region5 Taxes recoverable other debtors Prepayments and accrued income 337 97 09 84 58 51 47 27 46 82 337 97 09 79 58 47 27 46 82 253 645 253 640 15. CREDITORS: amounts falling due within one year Group 2023 Charity 2024 2023 £'ooo £'ooo 2024 Creditors reloted to chariloble aclivities Creditor5 in respect OF region5 other credilors Taxation and s(xial security Accruals and deferred income Owed to subsidiary comFJany 654 217 226 61 806 183 221 97 393 654 217 214 01 806 183 216 97 393 40 53 1,158 1,700 1,199 1,741 Accruals and deferred income include £89,00012023= £67,0(X)l of deferred income. The 2023 deferred income was released during the year ended 30 September 2024. 43
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 I6a FUNDS 30 September 2024 Incoming resovr(es / net investment gains Outgoing resouttes / net investment losses Balante th I ber 2023 Balance at 30 September 2024 £'ooo Transfers Grovp Unrestrictsd funds General Johnners Trust 2,287 171 3,910 19 14,4051 1591 1,792 2,458 684 3,929 14,4641 391 1 ,923 345 Designated lunds (Note 181 Tthal unrestri<ted funds 3,142 3,929 14,8031 2,268 Restricted funds (see Note 171 Cricket PrrrIMmes'. Disability Disadvantage Minibuses and other Grants 225 30 15 2,026 191 128 12,0261 225 60 30 Tthal restriCd funds 270 2,345 12,3001 315 Tthal funds 3.412 6,274 17,1031 2,583 lob FUNDS 30 September 2023 Incoming resources / net InVestnnI gains resources / nel inveslment losses Balonte at I <ktober 2022 Balance ai 30 September 2023 £'ooo Transfers Group Unrestricted funds General Johnner5 Trust 3,197 198 3,922 14,832) 1331 2,287 171 3,395 1, 128 3,928 14,805J 14441 2,458 684 DeSign0d funds IN0 18) Total unrestricted funds 4,523 3,928 15,309) 3,142 Restricted funds (see Note 17) Crickel Pr(Erammes'. Disability Disadvantage Minibuses and other Grants 315 40 55 1,841 212 121 11,931) 12221 [1611 225 30 15 Total restricted lunds 410 2, 174 12,314) 270 Total funds 4,933 0, 102 17,623J 3,412
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 Ioc Group net assets between funds 30 September 2024 Unrestrirted Funds General Designated Restricted Funds Total Tangible fixed assets Intangible fixed assets Investments Current Assets Current Liabilities 40 40 2,799 226 11,1581 2,799 886 11,1581 345 315 1,923 345 315 2,583 16d Group net assets behveen lunds 30 Septsmber 2023 UnrestlYrt Funds Genernl Designated £'ooo Restrickd Funds Total £'ooo Tangible fixed asset5 Intangible fixed assets Investments Current Assets Current Liabilities 68 20 2,371 1,699 11,700J 08 20 3,359 1,665 11,700J 988 {304J 270 2,458 084 270 3,412 17. RESTRicfED FUNDS The restricted funds reported within the financial stalements represent the consolidalion of a number of individual fijnds that relate lo specific charitoble progrommes ond may be hjrther restricted either by region or speciFic activity. The following indicate the sources of reslricled income across each OF the programme categorisations. Cricket programmes: Super Is provides year-round weekly inclusive cricket sessions in the community for young people with a disability aged 12-25 the chance to play regular, competitive cricket. Table Cricket is a game designed around cricket. played on a loble tennis table, to engage individuals with both physical and learning disabilitie5 in sport and io build teamwork and self<onfidence. Cricket in SEND Schools: Provides young people with a disability in the school environment who otherwise have limited access to 5FX)rt, providing participonts with inclusive coaching, training for teachers and appropriate equipment while also giving young people the chance to transilion into cricket in a community setting Isuper I sl. 45
THE LORD'S TAVERNERS LIMITED Year ended September 2024 RESTRicfED FUNDS (Continued) Cricket programmes contr WKkelz is a specific programme delivering weekly year-round cricket coaching lo young people in areas of high deprivation, alongside dher workshops to develop life skills and improve the welkbeing OF participants. Cricket Kit recycling, whereby new and used kit is collected, sorted, and dispatched to participants in Ihe UK and around the world lo enable local people to participate in sp)rt. Minibuses are provided io special needs schtxjls to enable their pupils to participate in activities outside OF the School premises. As well as Ihe beneficiary schools who provide a donation towards the cost OF their minibus. 18a DESIGNATED FUNDS - 2024 Balance at l Expendilure October 2023 Transfer to between funds Balance at 30 September 2024 Table Cricket Fund Worcester Cricket Centre Fund Transformation Project 60 500 124 1201 40 100 205 14001 13191 400 684 13391 345 The Designated Funds comprise the following: Table Cricket Fund - This hjnd is held for our newly designed toble cricket equipment. that is stored and then distributed. A small number slill needs lo be distributed which continues to happen unlil all stock is cleared. This balance will cover the transportation and any ongoing storage cosls. Worcester Nalional Cricket Centre- Given thai this projecl has not proJressed for many years, members and other stakeholders raised concerns thal our fijnds designated for this continued lo remain un5penl at a time when we were increasing our investments into community cricket progrommes and the strategic transformation of the charity. Therefore, Following c review the Trustee5 took the decision to redesignale Itransfeil some of these funds lo the transformation fund such thol this key investment was oble to continue. Transfomiation Fund This hos been set aside to hjnd investmenl in a modernisiolion project across the charity, including systems across volunteers and centrally, insight, and SUPFX)rter development and engagement. 46
THE LORD'S TAVERNERS LIMITED Year ended September 2024 NOTES TO THE FINANCIAL STATEMENTS (<ontinued) For the year ended 30 September 2024 18b DESIGNATED FUNDS - 2023 Balance al l Expenditure October 2021 Transfer to behyeen funds Balance at 30 September 2022 £'ooo Table Cricket Fund Worcester Cricket Centre Fund Transformation Project 329 500 299 12691 60 500 124 11751 1,128 14441 684 19. TAXATION As the Lord's Taverners Limiied is o regislered chority il is entided lo the exemptions from corporation lax afforded by the relevant sections of the Corporalion Tax Act 2011 so far as its income and gains are applied for charitable purFX)se5. 20. COMMITMENTS The lease in respect of the main offices ot 90 Chanry Lane expired in February 2024. The new offices al Fivefields Victoria are on a ihree-year lease thal started in January 2024. The lolal payable over this term 15 £502,344. The rent under the lease is £165,240 per annum. HalF of this cost Is covered by a restricFed grant from the Westminster Foundation for the duration of the lease. A len-year lease for a warehouse wos entered inlo in relation to cricket kil recycling programme in Ipswich in November 2022. The rent due under thi5 lease is £43,000 per annum and there is a break exercisable on the sixth anniversary, the commitment to that dote kting £50,167. We have a leose for office printers. The cosi for the three printers is £3,OCK) per calendar month, including VAT, creating a liability of £108,000 For the remaining terms of the lease. The Charity had no other material commitments as of 30 Seplember 2024 which are not subject to fijndraising in future period. The above operating lease commitments can 0150 be summorised as follows: 2024 2023 Payable in less than one year 244 78 Payable in 2 5 years 459 50 703 128 47
THE LORD'S TAVERNERS LIMITED Year ended September 2024 21. RELATED PARTY TRANSACTIONS As at 30 September 2024 the Charity owed £53,445 lo the Johnners Trust12023: £46.0(K)l. During the financial year the Charity made a grant lo the Trusl of £nil.12023.. £nill. There were no fijrther related paty Iransaclions in the period. 22. CONSTITUTION The Lord 5 Taverners Limited 15 a company limited by guarantee with approXimalY 1 ,609 members. The moximurn liability on winding up for each member is £ l . 48
LORD'S TAVERNERS Empowering yovn9 people through cricket Li's IN Iiil Lord's Taverners Fivefields, 8-1 O Grosvenor Gardens London SWIW ODH contact@lordstaverners.org 020 7025 0000 www.lordstaverners.org FJOOOOO