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← The Rangers Charity Foundation SCIO

2025-06-30-accounts

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

CHARITY NO: SC047681

THE RANGERS CHARITY FOUNDATION SCIO

REPORT AND GROUP FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

RANGERS CHARITY FOUNDATION SCIO

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

PAGE
Reference and Administrative information 1
Report of the Trustees 2-13
Independent Auditor’s Report 14-18
Consolidated Statement of Financial Activities 19
Consolidated Balance Sheet 20
Charity Statement of Financial Activities 21
Charity Balance Sheet 22
Cashflow Statement 23
Notes to the Financial Statements 24-40

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

RANGERS CHARITY FOUNDATION SCIO

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees

Senior Management

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Principal Office Argyle House Ibrox Stadium Glasgow G51 2XD Charity Number SC047681 Independent Auditors Wbg (Audit) Limited 168 Bath Street Glasgow G2 4TP Bankers The Bank of Scotland The Mound Edinburgh EH1 1YZ Solicitors Thorntons LLP 33 Yeaman Shore Dundee Angus DD1 4BJ

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report and financial statements of the charity for the year ended 30 June 2025.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, the Constitution, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The legal and administrative information on page two forms part of this report.

Trustees

The Trustees serving during the year and since the year end unless otherwise stated, were as follows:

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Objectives and Activities

The Rangers Charity Foundation SCIO exists to be a force for good on behalf of the Rangers Family, showing compassion to those in need, tackling inequalities and creating opportunities for people of all ages to change their lives for the better.

Everything the Foundation does is focused on creating a positive difference for people and communities. In line with OSCR guidance, the Trustees are confident that our programmes and support deliver genuine public benefit, whether through helping young people into education and employment, improving health and wellbeing, or providing care and compassion to those most in need.

Within our broad charitable purpose and current strategic approach, the focus of our activity can be split into seven thematic pillars:

We are a Foundation for:

Potentia l

Offering life changing opportunities in education and pathways towards employment.

Healthy Lives

Supporting children and adults to improve their health and wellbeing.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Everyone and Anyone

Championing diversity and inclusion for all.

Our Local Community

Being a good neighbour by supporting and working with local people

A Better World

Building powerful partnerships across Glasgow, Scotland and the world.

Giving

Enabling others to support causes and people close to their heart.

Dreams

Making dreams come true for those who need it most.

Achievements and Performance

It has been a year of further strategic success and wide-ranging impact for the Rangers Charity Foundation. During the final year within our current strategic cycle, we have continued to champion our mission in supporting people of all ages to change their lives for the better. The diversity of our work, in relation to the charity’s size, is remarkable, and we recognise the unique ability that we have to respond to needs in society around us and to use the trust placed in us by those using our services, wisely and with compassion. Monitoring and reflecting upon our impact for people is important to the Foundation and we remain proactive in sharing project reports, activity outcomes and case studies across our digital media platforms.

During the year, we worked with several valued local and national charity partners and delivered a diverse range of 26 community programmes and initiatives reaching almost 7,000 people of all ages. Delivery of an extensive suite of bespoke educational programmes for young people resulted in 319 SQA awards. Thousands of primary school pupils benefitted from a range of tailored programmes focused upon health and wellbeing and diversity and inclusion. Further investment in the rejuvenation of the Ibrox Community Complex continues to pay dividends for our own community programme delivery as well as the many partners and groups which have used the facility during the year.

We responded to 2,453 requests for support and provided a positive response or in-kind donation to 96% of these. In addition, our Rangers Charity Dream Fund has enabled the Foundation to hold out the hand of friendship to those in need of a boost. Providing a personal touch has always been important to the Foundation and we remain dedicated in showing compassion to those who have faced unique challenges, illness, or bereavement during the past year.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Community Programmes

With over 26 different community programmes and initiatives delivered over the year to over 7,000 children and adults the Foundation remains committed to enabling tangible and sustained positive change for people in diverse, but tailored, ways.

A Foundation For Potential

Thanks to the Foundation’s community programmes, hundreds of young people are given the opportunity to learn, grow in confidence, improve their employability prospects and identify routes to other positive destinations, such as further education and volunteering.

Our CashBack For Communities – Towards New Futures programme funded by Scottish Government, which aims to re-engage young people leaving prison or with experience of the criminal justice system continues to exceed expectations. Young people were supported into a range of positive destinations, including employment, college, further training or work experience and volunteer roles.

It was a record year for our SQA Programme of Wider Achievement with 21 schools from eight different local authorities engaging with the initiative. Thanks to the Foundation’s SQA Approved Centre status, we are able to guide pupils who may be disengaged in the school environment through SQA approved qualifications.

Our Hub in the Community initiative runs in four high schools across Glasgow, seeing each school with a full-time member of Foundation staff on campus to assist with improving attainment and attendance. In partnership with Whitehill Secondary School we were delighted to be able to recruit a second Hub Officer to help expand the impact and support for young people at the school. This year we hosted age group cohorts from all four schools and learning units within the schools to participate in Hub School tournaments at the Ibrox Community Complex. A group of pupils from our Govan Hub School also had the opportunity to visit our friends at the Manchester Utd Foundation to share good practice and take in a match at Old Trafford.

Ready for Uni, a leadership programme which supports young people from our Hub Schools with their aspirations of attending university, was delivered over a number of sessions this season at the University of Glasgow.

A Foundation For Healthy Lives

Our wide range of programmes target older people, young children and everyone in between thanks to a comprehensive range of initiatives designed to help people improve their health and wellbeing.

Supporting mental wellbeing is a significant strand of our work within this charitable pillar. Our now long-established Team Talk initiative is funded via Rangers FC shirt sponsor UNIBET (a brand of FDJ United) and has three key elements, a ‘football and check in’ session, a weekly online wellbeing session and a 12 week more intensive mental wellbeing support course.

Our Changing Room programme in partnership with SAMH continued and we were pleased to expand our support for veterans by establishing our Veterans at Ease programme, which also focuses upon mental wellbeing.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

A Foundation For Healthy Lives (continued)

To support people who are dealing with and recovering from addiction, we continued to facilitate a Recovery Drop In Service thanks to long-term funding support from the National Lottery Community Fund. Combined, these services were used by 211 adults during the year.

We run tailored activities for older people, such as Walking Football and Football Memories, and a school-based programme for young children focusing on nutrition and exercise, Joy of Moving.

Rangers Women’s player Mia McAulay visited a Joy of Moving session at Pollokshields Primary School to talk to pupils about the importance of keeping active and having a balanced diet. Joy of Moving is a national SPFL Trust initiative funded by Ferrero.

In partnership with the Scottish FA and thanks to funding from the Scottish Government, we were able to continue our Scottish FA Extra Time initiative, which provides free after-school care for children at local schools as well as a parent support group.

One of the Foundation’s most popular programmes is Football Fans in Training, an initiative for adults aged 35 – 65. FFIT helps overweight men and women improve their fitness, lose weight and train with fellow fans at Ibrox. This season, 122 adults lost a collective total of over 401kg and 657cm from their waists. Over 200 men and women also benefitted from our weekly Tuesday night FFIT for Life sessions which have helped participants who have finished the FFIT course to maintain and build upon their successes. FFIT is a national SPFL Trust initiative funded by Scottish Government.

Our Trauma Counselling Service remains embedded within a number of our programmes providing vital, person-centred support to a range of participants. A number of programme funders backed the service during the year, including via a generous donation from The Ellen and Ian Graham Foundation.

A Foundation For Everyone and Anyone

The Foundation is committed to championing and celebrating diversity and inclusion, which is reflected in the programmes we run under our Everyone Anyone pillar, as well as our wider work.

Following the launch last year of Count Me In, 18 young adults who have a learning disability have taken part in this empowering programme, which for some included the fantastic opportunity to represent the Foundation at the Football is More Helvetia Cup in St. Gallen, Switzerland, thanks to our partnership and friendship with the Football is More Foundation.

Our flagship Diversity Wins programme was the first of its kind in the UK when it launched in 2018 and was delivered to 832 primary pupils this season. Run in partnership with Glasgow City Council, this initiative teaches P6s and 7s about discrimination and prejudice, stereotyping and employability.

Autism Friendly Football (supported by Better Breaks) and Visually Impaired Football (supported by Better Breaks and The Powell Family Foundation) continue to be of great benefit to young people who might otherwise be unable to enjoy structured football. The sessions

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

A Foundation For Everyone and Anyone (continued)

provide an opportunity to have fun, become more physically active and allow parents and carers to connect.

As part of our collective commitment to diversity and inclusion, Rangers Football Club and Rangers Charity Foundation were proud once again to take part in Glasgow’s Pride March.

A Foundation For Our Local Community

Being a good and trusted neighbour is important to the Rangers Charity Foundation and we are proud to play an active part in supporting other organisations in the local community as well as individuals.

Our refurbished Ibrox Community Complex is now used for a range of community programmes available at no cost to local people, such as Walking Football, Recovery Drop In, our weekly Saturday Night Youth Hub which provides 8-18 year olds with access to football, indoor sports and games, supervised by our community coaches and Scottish FA Extra Time which provides free after-school care to Ibrox Primary School to assist local parents.

We provided monetary donations to a number of small charitable organisations, many of them local, and arranged matchday bucket collections supporting a wide range of good causes.

At the request of Glasgow South Health and Social Care Partnership, we were pleased to administer the distribution of £8,500 to a number of local organisations as part of a Participatory Budgeting initiative.

At Christmas time, we welcomed 80 local senior citizens to Ibrox for a special Christmas lunch with entertainment as part of the SPFL Trust’s Festive Friends initiative. Among the guests was ex-player Lee McCulloch. We also delivered hampers to the doorsteps of those who were unable to attend.

A Foundation For A Better World

The Rangers Charity Foundation aims to make the world a better place by working with charities in the local community and across the country and has donated over £6.9 million in cash and in-kind support to date.

For season 2024/25 we worked with Scottish Action for Mental Health as our National Charity Partner, donating £20,000 for its ground-breaking new mental health support service in Glasgow, The Nook, as well as sharing important messaging around mental wellbeing throughout the year.

We also continue to support local partners, helping Glasgow Children’s Hospital Charity bring the magic of the festive season to the wards by funding Christmas decorations as well as funding towards a specialist piece of sleep monitoring equipment.

Glasgow City Mission and the Simon Community Scotland received £17,000 from our Big Ibrox Sleep Out events, taking our total donated to homeless projects to over £350,000 to date. The donation helped Glasgow City Mission sustain their Housing Resettlement project

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

A Foundation For A Better World (continued)

and support the Simon Community Scotland to deliver the charity’s new Connect Hub for women experiencing homelessness in Glasgow.

The Rangers Charity Foundation has demonstrated steadfast support for services related charities over many years and, along with the club, holds a Ministry of Defence Employer Recognition Scheme Gold Award, an accolade which has recently been renewed for a further five years. This season we donated £10,000 in total to TAPS (Tragedy Assistance Program for Survivors) and Forces Children Scotland through our Armed Forces Fund, taking our total donations to date to £261,000 for services-related charities.

A Foundation For Giving

The Foundation aims to support as many people as possible in the community who are working hard to raise funds for causes close to their hearts.

Over the past year we responded to 2,453 requests for support from people raising money for a wide variety of worthwhile causes and were able to say yes to 96% of these requests.

Thanks to our discretionary grants fund we also donated vital funds to local organisations including several with the elderly and veterans, charities alleviating poverty and a local Christmas toy bank.

We provided a wide range of charities and other good causes with the opportunity to hold a can collection at Ibrox Stadium, donated complimentary match tickets and stadium tours to individuals and community groups and sent letters and goodie bags to children and adults in hospital.

A Foundation For Dreams

This season the Rangers Charity Foundation continued to bring smiles to the faces of those in need of a boost through the Rangers Charity Dream Fund.

The Foundation was delighted to be able to host two special Dream Days at the Rangers Training Centre, as well as a number of Dream Fund experiences on matchdays at Ibrox. 22 nominees and their guests attended the Rangers Training Centre where they had the opportunity to meet the First Team and the Manager and enjoy an exclusive photo and autograph session, followed by a stadium tour and meal at Ibrox.

Another highlight was our annual Dream Fund Christmas party. Children living with life limiting illnesses and in other difficult circumstances were treated to entertainment, games and food as well as a surprise visit from Rangers stars Jefté, Robbie Fraser and Mason Munn.

Our Dream Day Matchday Experiences this season offered guests a day to remember. These included a special meet and greet with Rangers First Team players pre-match, before a tour of the trophy room and the chance to experience the match with hospitality.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Ibrox Community Complex

The Rangers Charity Foundation took on a 25-year lease of the Ibrox Community Complex from Glasgow City Council in September 2022, and with the strong backing of Rangers Football Club looks forward to continuing the rejuvenation of this facility over the coming years to support the Foundation’s strategic approach and priorities. Working collaboratively with our trading subsidiary RCF Community Complex Ltd has enabled the Foundation to increase its physical presence in the local community and to expand the range of programmes and initiatives we can deliver for people to help them change their lives for the better. A successful bid for funding from the SFA’s Grassroots Fund 2023, supported by UK Government, together with financial support from Rangers Football Club, enabled the replacement of the artificial pitch with a new 3G surface and improvement to the facilities and decoration within the building.

Fundraising

Fundraising highlights during the year included:

Future Strategy

A new long-term strategy for the Rangers Charity Foundation was approved by the board of trustees in May 2025 and is due to be implemented, as planned, from July 2025. The strategy represents a positive future vision for the charity, reinforcing the success of our existing work and providing a range of tactical developments to further amplify our impact and strengthen our future sustainability.

While our long-term strategy sets out where we want to be in five years’ time, the year ahead brings some immediate priorities. We want to build on what we started in 2024/25, make sure our new programmes bed in well, and continue investing in our team. We will also focus on broadening our fundraising base and showing clearly how our work changes lives, so we can keep earning the trust of our supporters and funders.

Our mission remains unchanged and our new organisational values, strategic priorities and key charitable pillars which will guide the way in which we seek to make a powerful difference for people during the next five years are as follows:

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Our Mission

We exist to be a force for good on behalf of the Rangers Family, showing compassion to those in need, tackling inequalities and creating opportunities for people of all ages to change their lives for the better.

Our Values

Strategic Priorities

Our Key Pillars

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Financial Review

Results for the year

The Group Statement of Financial Activities on page 19 shows a surplus of £100,728 (2024: deficit of £22,156). The group’s net assets at the period end amounted to £706,074 (2024: £605,346), of which £5,111 was in restricted funds (2024: £63,467). The Charity Statement of Financial Activities on page 21 shows a deficit of £16,641 (2024: surplus of £51,885). The charity’s net assets at the period end amounted to £662,745 (2024: £679,387), of which £5,111 represents restricted funds (2024: £63,467).

Principle funding sources

The principle funding sources of the charity are: donations received; funding from trusts, foundations, companies, local authorities and Scottish and UK governments for the delivery of specific community programme activity; the annual Charity Ball; our True Blue Heroes campaign and other organised fundraising events and activities.

Reserves policy

It is the policy of the charity that accumulated income should not fall below a level sufficient to fund three months of running costs and any redundancy costs. Based on current expenditure levels this would equate to £388,818. At 30 June 2025 the charity had free reserves of £556,761 which is above the target level. This is the amount in unrestricted funds less funds designated by trustees for a specific purpose. During the year, the trustees have increased investment in the Foundation’s community programme activity, discretionary grant giving and in the staffing necessary to effectively implement the Foundation’s wider strategy. The Foundation looks forward to upholding its mission and planning for the next strategic phase.

Investment policy

The trustees have the power to invest as they see fit.

Principle risks and uncertainties

Every charity faces risks, and we take these seriously. We regularly review our risk register and make sure that the biggest risks — like looking after our staff, protecting our reputation, and managing the running of the Ibrox Community Complex — are closely monitored. Each risk is ranked by how likely it is and how big the impact could be. We then put clear actions in place to reduce these risks, and update our plans as circumstances change. This helps ensure the Foundation stays strong and focused on delivering for the people we serve.

We believe that the following are the key areas which bring both risk and uncertainty:

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Principle risks and uncertainties (continued)

We mitigate potential impacts by: having a flexible working framework in place; providing health and wellbeing benefits via a national health cash plan provider, including access to a Doctor; providing a free counselling service; undertaking and implementing the recommended outcomes of an independent benchmarking exercise across all roles in the Foundation and maintaining close dialogue between the Foundation’s Chief Executive and the Foundation Chair regarding staff and their welfare.

We mitigate against this by maintaining effective dialogue between the Foundation Chief Executive and Club executives to ensure that a mutually agreeable working arrangement can be maintained. The recent lease agreement for the Ibrox Community Complex also provides the Foundation with additional delivery space and staff working spaces, should this be required. A contingency plan to ensure that operating data is stored or saved in an alternative location is also in place.

Any form of external release or communication which is deemed to have a potentially damaging effect is approved by the Foundation Chief Executive, or where there is potentially a severely damaging effect or danger of misinterpretation, by a majority quorum of trustees prior to release. Careful consideration is also given by the Foundation’s Chief Executive with regard to any third parties who may act on the Foundation’s behalf.

All legal documents and agreements were carefully reviewed by the Foundation’s legal advisers and the board of trustees prior to signing. Funding arrangements are in place with Rangers Football Club and a separate trading company and bank account for RCF Community Complex Ltd have been established to appropriately separate the trading activities of this initiative from Rangers Charity Foundation SCIO. Appropriate Corporate Tax and VAT advice has been sought to ensure that the operation of our proposed trading subsidiary and financial management of the facility is delivered effectively and follows best practice. Appropriate staffing has been secured to ensure that appropriate checks, procedures and management systems are in place and staff support and resource will continue to be reviewed as our operation and management of the facility evolves.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Principle risks and uncertainties (continued)

A health and safety policy (and associated risk assessments) and safeguarding policies have been established and the Foundation’s public liability policy is reviewed regularly, and appropriate cover secured. Community coaching staff hired from Rangers FC have received and accepted these policies as being current and understood. All appropriate policies are maintained and updated as necessary by key Foundation personnel. An organisational risk register is maintained, regularly updated and shared with all trustees, with additional oversight by a nominated trustee.

Structure, Governance and Management

The Scottish Charitable Incorporated Organisation (SCIO), which is a charity registered in Scotland (SCO47681), is operated under the rules of its constitution. Rangers Charity Foundation SCIO was incorporated as a SCIO with the Office of the Scottish Charity Regulator (OSCR) on 30 August 2017. The Foundation converted to a SCIO for day to day operations on 1 January 2019 and Rangers Charity Foundation SCIO (SCO47681) replaced Rangers Charity Foundation (SC033287) following the transfer of assets and liabilities to this new entity.

New trustees may be appointed at the discretion of the existing board of trustees under procedures outlined in the charity’s constitution.

All major decisions relating to strategy, aims, objectives, priorities and targets are taken by trustees at periodic meetings or by an individual trustee in the interim as necessary. As the senior managerial employee of the Foundation, the Chief Executive liaises directly with trustees, implementing decisions and putting forward development proposals for consideration.

Trustees’ meetings are held on a quarterly basis or more regularly when business requires. The Foundation’s Chief Executive reports on a more regular basis to the Chair of trustees who has been delegated authority to oversee key financial and operational matters on behalf of the trustees. A management report covering operational matters is submitted to the trustees by the Foundation’s Chief Executive on behalf of the senior management team on a bi-monthly basis.

The remuneration of all Foundation employees is reviewed annually by the trustees and is based upon the overall sustainability of the Foundation, prevailing external factors (including benchmarking) and where appropriate individual performance. The remuneration of the Foundation’s Chief Executive is considered in a similar way with additional benchmarking analysis where a significant change in responsibility is applicable.

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Trustees’ responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006, and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure to the auditor

So far as the trustees are aware, there is no relevant audit information of which the Charity’s Auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees, in order to make themselves aware of all the relevant audit information and to establish that the Charity’s Auditors are aware of that information.

Approved by the trustees on 29[th] October 2025 and signed on their behalf by:

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Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE RANGERS CHARITY FOUNDATION SCIO FOR THE YEAR ENDED 30 JUNE 2025

Opinion

We have audited the financial statements of The Rangers Charity Foundation (the ‘charity’) for the year ended 30 June 2025 which comprise the Group and Parent Charity’s Statement of Financial Activities (incorporating an income and expenditure account), the Group and Parent Charity’s Balance Sheet, the Group and Parent Charity’s Cash Flow Statement and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical 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 requirements. We believe that 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 trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve 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 report.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE RANGERS CHARITY FOUNDATION SCIO FOR THE YEAR ENDED 30 JUNE 2025

Other information

The other information comprises the information included in the report and financial statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charity or to cease operations, or have no realistic alternative but to do so.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE RANGERS CHARITY FOUNDATION SCIO FOR THE YEAR ENDED 30 JUNE 2025

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’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 (UK) will always detect a material misstatement when it exists. Misstatements can 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 statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, responding appropriately to fraud or suspected fraud identified during the audit process. This includes obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. The primary responsibility however for the prevention and detection of fraud rests with those charged with governance and executive management of the entity.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

Based on our understanding of the charity and the sector we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to;

We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006.

16

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE RANGERS CHARITY FOUNDATION SCIO FOR THE YEAR ENDED 30 JUNE 2025

We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks were related to;

Audit response to the risks identified;

Our procedures to respond to the risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 misstatement in the financial statements or non-compliance with regulation. This risk increases the more that 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-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

17

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE RANGERS CHARITY FOUNDATION SCIO FOR THE YEAR ENDED 30 JUNE 2025

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 44(1)© of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Senior Statutory Auditor For and on behalf of Wbg (Audit) Limited, Statutory Auditor Date 29[th] October 2025

168 Bath Street Glasgow G2 4TP

18

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 30 JUNE 2025

(Including an Income and Expenditure account)

Note
Income and endowments from:
Donations and legacies
5
Charitable activities
6
Other trading activities
7
Other incoming resources
8
Total Income
Expenditure on:
Raising funds
Raising donations & legacies
9
Other trading activities
11
Charitable activities
13
Other expenditure
15
Total Expenditure
Net income/(expenditure) for the year
Transfers between funds
23
Taxation
29
Net movement in funds
Funds Reconciliation
Total Funds brought forward
23
Total Funds carried forward
23		 Unrestricted
Restricted
Total Funds
Unrestricted
Restricted
Total Funds
Funds
Funds
2025
Funds
Funds
2024
2025
£
2025
£
£
2024
£
2024
£
£
215,172
-
215,172
598,544
-
598,544
431,667
425,967
857,395
207,077
697,101
904,178
561,575
29,183
590,997
449,419
36,137
485,556
2,953
-
2,953
69
-
69
1,211,367
455,150
1,666,517
1,255,109
733,238
1,988,347
46,406
-
46,406
76,579
-
76,579
446,987
-
446,987
806,734
-
806,734
536,793
489,000
1,025,793
343,167
784,023
1,127,190
-
36,084
36,084
-
-
-
1,030,186
525,084
1,555,270
1,226,480
784,023
2,010,503
181,181
(69,934)
111,247
28,629
(50,785)
(22,156)
(11,578)
11,578
-
(8,693)
8,693
-
169,603
(58,356)
111,247
19,936
(42,092)
(22,156)
(10,519)
-
(10,519)
-
-
-
159,084
(58,356)
100,728
19,936
(42,092)
(22,156)
541,879
63,467
605,346
521,943
105,559
627,502
700,963
5,111
706,074
541,879
63,467
605,346

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

19

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDTION SCIO

CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2025

Note
Current assets:
Debtors
20
Cash at bank and in hand
26
Total Current Assets
Liabilities:
Creditors falling due within one year
21
Net Current assets
Net assets
The funds of the charity:
Restricted funds
23
Unrestricted funds
23
Total charity funds		 2025
£
2024
£
150,242
161,356
899,943
846,244
1,050,185
1,007,600
(344,111)
(402,254)
706,074
605,346
706,074
605,346
5,111
63,467
700,963
541,879
706,074
605,346

Approved by the trustees and signed on their behalf by:

==> picture [404 x 58] intentionally omitted <==

Date: 29[th] October 2025

20

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 30 JUNE 2025 (Including an Income and Expenditure account)

Note
Income and endowments from:
Donations and legacies
5
Charitable activities
6
Other trading activities
7
Other incoming resources
8
Total Income
Expenditure on:
Raising funds
Raising donations & legacies
10
Other trading activities
11
Charitable activities
14
Other expenditure
15
Total Expenditure
Net income/(expenditure) for the year
Transfers between funds
Net movement in funds
Funds reconciliation
Total Funds brought forward
Total Funds carried forward		 Unrestricted
Restricted
Total Funds
Unrestricted
Restricted
Total Funds
Funds
Funds
2025
Funds
Funds
2024
2025
£
2025
£
£
2024
£
2024
£
£
53,140
-
53,140
164,300
-
164,300
631,065
226,330
857,395
621,118
283,060
904,178
465,990
29,183
495,173
420,348
36,137
456,485
2,953
-
2,953
-
-
-
1,153,148
255,513
1,408,661
1,205,766
319,197
1,524,963
46,406
-
46,406
76,580
-
76,580
266,873
-
266,873
257,244
-
257,244
786,576
289,363
1,075,939
355,231
784,023
1,139,254
-
36,084
36,084
1,099,855
325,447
1,425,302
689,055
784,023
1,473,078
53,293
(69,934)
(16,641)
102,670
(50,785)
51,885
(11,578)
11,578
-
(8,693)
8,693
-
41,715
(58,356)
(16,641)
93,977
(42,092)
51,885
615,919
63,467
679,386
521,942
105,559
627,501
657,634
5,111
662,745
615,919
63,467
679,386

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

21

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

CHARITY BALANCE SHEET AS AT 30 JUNE 2025

Fixed assets:
Investments
Note
19
Total Fixed Assets
Current assets:
Debtors
20
Cash at bank and in hand
26
Total Current Assets
Liabilities:
Creditors falling due within one year
21
Net Current assets
Net assets
The funds of the charity:
Restricted funds
Unrestricted funds
Total charity funds		 2025
£
1
2024
£
1
1
1
164,151
153,538
774,464
822,559
938,615
976,097
(275,871)
(296,711)
662,744
679,386
662,745
679,387
5,111
63,467
657,634
615,920
662,745
679,387

Approved by the trustees and signed on their behalf by:

==> picture [408 x 58] intentionally omitted <==

Date: 29[th] October 2025

22

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

CONSOLIDATED AND CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDING 30 JUNE 2025

0 JUNE 2025
Note
Cash flows from
operating activities:
Net cash provided
by/(used in)
operating activities
25
Cash flows from
financing activities:
Interest received
Change in cash and
cash equivalents in
the year
Cash and cash
equivalents brought
26
forward
Cash and cash
equivalents carried
26
forward		 Group
Charity
Group
Charity
2025
£
2025
£
2024
£
2024
£
50,746
(51,048)
(31,891)
(55,576)
2,953
2,953
-
-
53,699
(48,095)
(31,891)
(55,576)
846,244
822,559
878,135
878,135
899,943
774,464
846,244
822,559

23

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 1. Accounting Policies

(a) Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The charity’s presentational currency is sterling and amounts in the financial statements are rounded to the nearest £.

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

The financial statements consolidate the results of the wholly owned subsidiary RCF Community Complex Ltd on a line by line basis.

(b) Funds structure

Further details of each fund are disclosed in note 22.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be qualified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Voluntary income is received by way of grants, donations and gifts and included in full in the Statement of Financial Activities when reasonable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of the services provided by volunteers has not been included in these accounts.

Investment income is included when receivable. Incoming resources from charitable trading activities are accounted for when earned.

24

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 1. Accounting Policies (continued)

Income is only deferred when:

(d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e) below.

(e) Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.

Governance costs and support costs relating to charitable activities have been apportioned based on the time spent. The allocation of support and governance costs is analysed in note 12.

(f) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(g) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

25

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

1. Accounting Policies (continued)

(h) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(i) Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity contribution is restricted to the contributions disclosed in note 16. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within support and governance costs and charged to the unrestricted funds of the charity using the methodology set out in note 16.

(j) Taxation

The Foundation is a charity within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the Foundation is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to charitable purposes only.

(k) Financial instruments

The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(l) Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

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

(m) Operating leases

The charity classifies the lease of properties as operating leases; the title to the properties remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease.

2. Legal status of the Charity

The charity is a Scottish Charitable Incorporated Organisation (SCIO).

26

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

3. Financial activities of the subsidiary

The wholly owned trading subsidiary “RCF Community Complex Ltd” was formed as a trading company which will operate as a subsidiary of the charity. This venture was incorporated on 20[th] January 2020 and was dormant up to 31 January 2023. For the year to 30 June 2025, the subsidiary reported a profit of £117,369. The charity owns the entire share capital of 1 ordinary share of £1.

A summary of the financial activities undertaken by the subsidiary is set out below:

Turnover
Administration expenses
Profit/(Loss) before taxation
Taxation
Profit/(Loss) for the financial year
The assets and liabilities of the subsidiary were:
Current assets
Current liabilities
Total net assets/(liabilities)
Aggregate share capital and reserves		 Year ended
30 June 2025
£
308,002
(180,114)
127,888
(10,519)
117,369
130,863
(87,534)
43,329
43,329		 Year ended
30 June
2024
£
475,448
(549,489)
(74,041)
-
(74,041)
36,307
(110,347)
(74,040)
(74,040)

4. Related party transactions and trustees’ expenses and remuneration

During the year ended 30 June 2025 the following transactions took place between Rangers Charity Foundation and The Rangers Football Club Limited:

Rangers Charity Foundation received donations totalling £16,917 (2024: £112,967) from The Rangers Football Club Limited.

The Rangers Football Club Limited continued to support the activities of the charity and provide office space and utilities to the charity free of charge. £919,399 (2024: £999,255) of expenditure incurred by The Rangers Football Club Limited, on behalf of the Foundation, was recharged. The expenditure incurred related to salary, administration and events costs. The Foundation remits amounts owed periodically during each financial year and at 30 June 2025 the charity owed The Rangers Football Club Limited £72,723 (2024: £87,797).

Annette Bell is a Trustee of the Charity and also a director and co-owner of the Bell Group UK, the charity received income totalling £5,700 (2024: £4,100) from the Bell Group UK during the year. RCF Community Complex Ltd, a subsidiary company of the Charity, was charged £nil (2024: £31,237) from the Bell Group during the year for work carried out.

27

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

4. Related party transactions and trustees’ expenses and remuneration (continued)

No Trustees received any remuneration during the year (2024: £nil)

No expenses were claimed or waived during the year (2024: £nil).

No Trustees made donations during the year (2024: £nil).

Other than as stated above, no Trustee or other person related to the charity had any personal interest in any contract or transaction entered by the charity during the year (2024: £ nil).

5. Income from donations and legacies

Donations
Grants
. Income from charitable activities
Community projects
. Income from other trading activities
Fundraising events
Charity ball income
Other income
Facility hire		 Group
Charity
2025
£
2025
£
53,140
53,140
162,032
-		 Group
Charity
2024
£
2024
£
164,300
164,300
434,244
-
215,172
53,140		 598,544
164,300


Group
Charity
2025
£
2025
£
857,395
857,395

Group
Charity
2024
£
2024
£
904,178
904,178
857,395
857,395		 904,178
904,178
Group
Charity
2025
2025
£
323,422
£
323,422
160,725
160,725
11,026
11,026
95,824
-		 Group
Charity
2024
2024
£
241,709
£
241,709
131,198
131,198
83,578
83,578
29,071
-
590,997
495,173		 485,556
456,485

6. Income from charitable activities

7. Income from other trading activities

8. Income from other incoming resources

. Income from other incoming resources
Other income Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
2,953
2,953
69
-
2,953
2,953
69
-

28

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

9. Raising funds – expenditure on raising donations and legacies (Group)

Direct
Costs
Support
Costs
Total
2025
Costs of generating voluntary income
£
28,520
£
17,886
£
46,406
28,520
17,886
46,406
Direct
Support
Total
Costs
£
Costs
£
2024
£
Costs of generating voluntary income
57,944
18,635
76,579
57,944
18,635
76,579
0. Raising funds – expenditure on raising donations and legacies (Charity)
Direct
Support
Total
Costs
£
Costs
£
2025
£
Costs of generating voluntary income
28,520
17,886
46,406
28,520
17,886
46,406
Direct
Support
Total
Costs of generating voluntary income
Costs
£
57,944
Costs
£
18,636
2024
£
76,580
57,944
18,636
76,580
1. Other trading activities
Group
Charity
Group
Charity
2025
£
2025
£
2024
£
2024
£
Fundraising costs
266,873
266,873
257,244
257,244
Facility costs
180,114
-
549,490
-
446,987
266,873
806,734
257,244		 Direct
Costs
Support
Costs
Total
2025
£
28,520
£
17,886
£
46,406
28,520
17,886
46,406
Direct
Support
Total
Costs
£
Costs
£
2024
£
57,944
18,635
76,579		 Direct
Costs
Support
Costs
Total
2025
£
28,520
£
17,886
£
46,406
28,520
17,886
46,406
Direct
Support
Total
Costs
£
Costs
£
2024
£
57,944
18,635
76,579		 Direct
Costs
Support
Costs
Total
2025
£
28,520
£
17,886
£
46,406
28,520
17,886
46,406
Direct
Support
Total
Costs
£
Costs
£
2024
£
57,944
18,635
76,579
57,944
18,635
76,579
28,520
17,886
46,406
Direct
Support
Total
Costs
£
57,944
Costs
£
18,636
2024
£
76,580
57,944
18,636
76,580
Group
Charity
2025
£
2025
£
266,873
266,873
180,114
-		 Group
Charity
2024
£
2024
£
257,244
257,244
549,490
-
806,734
257,244
446,987
266,873

10. Raising funds – expenditure on raising donations and legacies (Charity)

11. Other trading activities

29

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

12. Allocation of governance and support costs (Group)

The breakdown of support costs and how these were allocated between governance and other support costs is shown in the table below:

Cost type
Wages & salaries
Employers NI
Staff Pension
Costs
Printing, postage,
and stationery
General expenses
Total		 Total
Raising
Other
Charity
Other
Community
Governance
Basis of
allocated
funds
Trading
Partnerships
charitable
projects
related
apportionment
2025
£
£
£
activities
£
£
£
684,715
7,374
98,757
22,385
£
56,884
484,041
15,274_Time spent_
57,216
616
8,252
1,871
4,753
40,448
1,276_Time spent_
32,238
347
4,650
1,054
2,678
22,790
719_Time spent_
24,709
247
741
2,471
16,308
2,471
2,471_Time spent_
107,180
1,072
3,215
10,718
70,739
10,718
10,718_Time spent_
906,058
9,656
115,615
38,499
151,362
560,468
30,458
Cost type
Wages & salaries
Employers NI
Staff Pension
Costs
Printing, postage,
and stationery
General expenses
Total		 Total
Raising
Other
Charity
Other
Community
Governance
Basis of
allocated
funds
Trading
Partnerships
charitable
projects
related
apportionment
2024
£
£
£
activities
£
£
£
£
642,654
7,313
87,534
21,052
71,800
442,102
12,853_Time spent_
78,793
897
10,732
2,581
8,803
54,204
1,576_Time spent_
Time spent
47,733
542
6,502
1,564
5,333
32,837
955
Time spent
2,882
30
86
288
1,902
288
288
160,545
1,604
4,816
16,055
105,960
16,055
16,055_Time spent_
932,607
10,386
109,670
41,540
193,798
545,486
31,727

30

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

12. Allocation of governance and support costs (Group) (continued)

Governance costs:
Consultancy
Auditor’s remuneration – parent
Auditor’s remuneration – subsidiary
Support costs (see above)
llocation of governance and other support
Raising funds
Other trading
Charity Partnerships
Other Charitable Activities
Community Projects
Facility costs
Raising funds
Other trading
Charity Partnerships
Other Charitable Activities
Community Projects
Facility costs		 2025
£
2024
£
1,690
1,520
9,000
8,000
5,025
5,725
30,458
31,727
46,173
46,972
costs:
Support costs
Governance
2025
£
9,656
8,230
17,886
115,615
-
115,615
38,499
6,172
44,671
151,362
6,172
157,534
560,468
20,574
581,042
-
5,025
5,025
875,600
46,173
921,773
Support costs
Governance
2024
10,386
8,249
£
18,635
109,670
-
109,670
41,540
6,187
47,727
193,798
6,187
199,985
545,486
20,624
566,110
-
5,725
5,725
900,880
46,972
947,852

Allocation of governance and other support costs:

13. Analysis of expenditure on charitable activities (Group)

Charitable donations
Travelling expenses
Project costs
Governance costs (note 12)
Support costs (note 12)		 Charity
Partnerships
£
Other
Charitable
Activities
£
Community
Projects
£
Total
2025
£
19,567
-
-
19,567
559
-
-
559
-
-
222,420
222,420
6,172
6,172
20,574
32,918
38,499
151,362
560,468
750,329
64,797
157,534
803,462
1,025,793

31

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

13. Analysis of expenditure on charitable activities (Group) (continued)

Charitable donations
Travelling expenses
Project costs
Governance costs (note 12)
Support costs (note 12)		 Charity
Partnerships
£
Other
Charitable
Activities
£
Community
Projects
£
Total
2024
£
102,777
-
-
102,777
839
-
-
839
-
-
209,752
209,752
6,187
6,187
20,624
32,998
41,540
193,798
545,486
780,824
151,343
199,985
775,862
1,127,190

14. Analysis of expenditure on charitable activities (Charity)

Charitable donations
Travelling expenses
Project costs
Governance costs (note 12)
Support costs (note 12)		 Charity
Partnerships
£
Other
Charitable
Activities
£
Community
Projects
£
Total
2025
£
69,713
-
-
69,713
559
-
-
559
-
-
222,420
222,420
6,172
6,172
20,574
32,918
38,499
151,362
560,468
750,329
114,943
157,534
803,462
1,075,939
Charitable donations
Travelling expenses
Project costs
Governance costs (note 12)
Support costs (note 12)		 Charity
Other
Community
Partnerships
Charitable
Projects
Activities
£
£
£
Total
2024
£
114,841
-
-
114,841
839
-
-
839
-
-
209,752
209,752
6,187
6,187
20,624
32,998
41,540
193,798
545,486
780,824
163,407
199,985
775,862
1,139,254

15. Other expenditure

Refurbishment costs Group
Charity
2025
2025
£
£
36,084
36,084		 Group
2024
Charity
2024
£
-
£
-
36,084
36,084		 -
-

32

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

16. Analysis of staff costs and remuneration of key management personnel

Salaries and wages
Social security costs
Other pension costs
Total staff costs and employee benefits		 Group
Group
2025
£
2024
£
764,813
717,923
64,600
60,147
34,911
34,521
864,324
812,591
The charity made £34,911 of contributions to the pension plan operated by Trustees on behalf of
the employees (2024: £34,521).
2025
£
2024
£
Key management personnel remuneration
83,708
78,750
This total includes gross pay (including salary sacrifice), employers’ national insurance and
employers’ pension costs.
The average weekly number of persons, by headcount, employed by
2025
No.
2024
No.
the charity during the year was:
22
23
17. Net (expenditure) for the year – Group
This is stated after charging:
2025
£
2024
£
19. Fixed Asset Investments - Charity
2025
£
2024
£
Ordinary shares of £1 each
1
1
1
1
Audit remuneration – parent
9,000
8,000
Audit remuneration - subsidiary
5,025
5,725
18. Government Grants (Group and Charity)
2025
£
2024
£
Scottish Government – Cashback for Communities
126,314
128,752
126,314
128,752		 The charity made £34,911 of contributions to the pension plan operated by Trustees on behalf of
the employees (2024: £34,521).
2025
£
2024
£
Key management personnel remuneration
83,708
78,750
This total includes gross pay (including salary sacrifice), employers’ national insurance and
employers’ pension costs.
The average weekly number of persons, by headcount, employed by
2025
No.
2024
No.
the charity during the year was:
22
23
17. Net (expenditure) for the year – Group
This is stated after charging:
2025
£
2024
£
19. Fixed Asset Investments - Charity
2025
£
2024
£
Ordinary shares of £1 each
1
1
1
1
Audit remuneration – parent
9,000
8,000
Audit remuneration - subsidiary
5,025
5,725
18. Government Grants (Group and Charity)
2025
£
2024
£
Scottish Government – Cashback for Communities
126,314
128,752
126,314
128,752		 The charity made £34,911 of contributions to the pension plan operated by Trustees on behalf of
the employees (2024: £34,521).
2025
£
2024
£
Key management personnel remuneration
83,708
78,750
This total includes gross pay (including salary sacrifice), employers’ national insurance and
employers’ pension costs.
The average weekly number of persons, by headcount, employed by
2025
No.
2024
No.
the charity during the year was:
22
23
17. Net (expenditure) for the year – Group
This is stated after charging:
2025
£
2024
£
19. Fixed Asset Investments - Charity
2025
£
2024
£
Ordinary shares of £1 each
1
1
1
1
Audit remuneration – parent
9,000
8,000
Audit remuneration - subsidiary
5,025
5,725
18. Government Grants (Group and Charity)
2025
£
2024
£
Scottish Government – Cashback for Communities
126,314
128,752
126,314
128,752
2025
£
9,000
5,025		 2024
£

8,000

5,725
2025
£
126,314		 2024
£

128,752
126,314
128,752
2025
£
1		 2024
£

1
1
1

Rangers Charity Foundation owns the entire share capital of the trading subsidiary RCF Community Complex Ltd.

33

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

20. Debtors

0. Debtors
Trade debtors
Other debtors
Amounts owed to group undertakings		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
81,733
£
76,349
£
60,551
£
60,251
68,509
68,509
100,805
88,484
-
19,293
-
4,803
150,242
164,151
161,356
153,538

21. Creditors: amounts falling due within one year

Group Charity Group Charity
2025 2025 2024 2024
£ £ £ £
Trade creditors 5,889 2,073 130,281 30,655
Other creditors and accruals 82,017 28,112 54,885 48,968
Deferred income (Note 22) 172,963 172,963 129,291 129,291
Taxation and social security 10,519 - - -
Amount owing to Rangers Football Club
Limited		 72,723 72,723 87,797 87,797
344,111 275,871 402,254 296,711

22. Deferred Income - Group

Balance as at 1 July 2024
Amount released to income earned from charitable activities
Amount deferred in year
Balance as at 30 June 2025		 2025
£
2024
£
129,291
169,704
(129,291)
(169,704)
172,963
129,291


172,963
129,291

Deferred income is in relation to the following grants awarded in the year: Autism Football, VI football, Towards Better Futures, 32 Red Team Talk, Lottery Recovery Project, Armed Forces Covenant, Clydebank High School, Count Me In Sponsorship, The Powell Foundation, Shared Care Scotland, Veterans Foundation, Whitehill Secondary School, Glasgow City Council – Holiday Programme, Mainstay Trust, Holyrood Secondary School and Shawlands Academy.

34

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

23. Analysis of charitable funds – Group

Analysis of
Fund movements
Unrestricted funds
Community Hub Officers
Strategic Investment
Total designated funds
General funds
Total unrestricted funds
Restricted fund
Armed Forces Fund
Big Sleep Out
Cashback – Towards New
Futures
Count Me In
FFIT
Glasgow Veterans Utd – Helping
Heroes
Govan Participatory Budgeting
Initiative
Hillsborough Fund
Kinder Sport & Move
RCF CC Refurbishment Grants
RCF CC Running Costs Grants
RCF Community Complex Lets
VI Football
150 Appeal
Total restricted funds
TOTAL FUNDS		 2024
2025
Balance
Fund
b/fwd
Income
Expenditure
Taxation
Transfers
c/fwd
£
£
£
£
£
£
41,090
-
36,888
-
-
4,202
-
-
-
-
140,000
140,000
41,090
-
36,888
-
140,000
144,202
500,789
1,211,367
993,298
10,519
(151,578)
556,761
541,879
1,211,367
1,030,186
10,519
(11,578)
700,963
349
12,002
10,801
-
-
1,550
334
17,181
17,514
-
(1)
-
-
126,822
126,931
-
109
-
-
11,303
18,086
-
6,783
-
-
24,700
25,580
-
880
-
-
10,503
14,313
-
3,810
-
-
9,500
9,500
-
-
-
2,175
-
-
-
-
2,175
-
31,908
31,905
-
(3)
-
-
81,969
81,969
-
-
-
-
47,869
47,869
-
-
-
-
69,799
69,799
-
-
-
1,493
11,594
11,701
-
-
1,386
59,116
-
59,116
-
-
-
63,467
455,150
525,084
10,519
11,578
5,111
605,346
1,666,517
1,555,270
10,519
-
706,074

35

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

23. Analysis of charitable funds – Group (continued)

Analysis of
Fund movements
Unrestricted funds
Community Hub Officers
Total designated funds
General funds
Total unrestricted funds
Restricted fund
Armed Forces Fund
Big Sleep Out
Cashback – Towards New Futures
FFIT
Foodbank Collection
Glasgow Veterans Utd – Helping
Heroes
Govan Thriving Place
Hillsborough Fund
Kinder Sport & Move
RCF CC Pre Trading Grants
RCF CC Refurbishment Grants
RCF CC Running Costs Grants
RCF Community Complex Lets
VI Football
150 Appeal
Total restricted funds
TOTAL FUNDS		 2023
2024
Balance
b/fwd
Income
Expenditure
Transfers
Fund
c/fwd
£
£
£
£
£
79,217
-
38,127
-
41,090
79,217
-
38,127
-
41,090
442,726
1,255,109
1,188,353
(8,693)
500,789
521,943
1,255,109
1,226,480
(8,693)
541,879
7,293
3,056
10,000
-
349
5,544
24,493
24,743
(4,960)
334
-
128,752
128,908
156
-
-
22,942
23,169
227
-
-
154
154
-
-
-
2,127
5,413
3,286
-
14,580
4,000
18,580
-
-
2,175
-
-
-
2,175
-
6,535
16,519
9,984
-
-
105,519
105,519
-
-
-
376,374
376,374
-
-
-
14,458
14,458
-
-
-
23,209
23,209
-
-
-
19,566
18,073
-
1,493
75,967
2,053
18,904
-
59,116
105,559
733,238
784,023
8,693
63,467
627,502
1,988,347
2,010,503
-
605,346

Purpose of designated funds

The Foundation allocated funds from its general reserves for the following:

The Community Hub Officer – Knightswood & Drumchapel - represents the Foundation’s share of the salary cost and project support for these roles.

Strategic Investment – represents the investment for additional roles and activities following the implementation of a new five year strategic phase.

General funds represent the free reserves of the charity which the trustees are able to use in the furtherance of the charity’s objectives.

Restricted Funds

Armed Forces Fund – This fund represents the proceeds of a can collection held at Ibrox at and Armed Forces Day event together with income from a match worn poppy shirts auction. The Foundation makes financial donations each year to armed forces related charities.

36

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

23. Analysis of charitable funds – Group (continued)

Big Sleep Out – Three sleep out events held which raised income for local homelessness charities.

Cash Back - Towards New Futures – A bespoke employability programme that re-engages people with offending backgrounds into the community and supports their aspirations towards a sustained positive destination

FFIT – The purpose of this grant is to assist in the delivery of Football Fans in Training (FFIT). Income received from The SPFL trust during the year was £24,700.

Foodbank Collection – Money collected on our Christmas matchday collection which was divided to two chosen local foodbanks (Riverside Primary School & Glasgow SW Foodbank).

Glasgow Veterans Utd - Helping Heroes – The funded project aims to improve the wellbeing and lifestyle choices of veterans struggling with mental health issues, addictions or social isolation and helps them address the negative attitudes that are affecting their lives and relationships with family and friends. Participants can discuss issues with their peers in a safe, open environment before channelling their energy into exercise through football coaching, which sees them learn the skills to sit their SFA Level 1 coaching exam. The course gives veterans the time, space and support they need to examine their lifestyle choices, change attitudes and learn valuable skills for the future.

Govan Participatory Budgeting Initiative – Glasgow South Health and Social Care Partnership asks for our support in distributing funds to local organisations as part of a local participatory budgeting initiative. The Foundation agrees the process and application criteria with this partner in advance and, following the outcome of applications and participatory budgeting feedback from local people, distributed the funds as agreed and following the assessment process to confirm eligibility.

Hillsborough Fund – This fund represents the balance of can collections for Hillsborough.

Kinder Sport & Move – This is a fund provided by the SPFL Trust to cover costs associated with the Sport and Move Project.

RCF CC Pre Trading Grants – Grant income received in connection with the operation of Ibrox Community Complex prior to the trading start date of RCF Community Complex Ltd (RCFCC Ltd) on 1 January 2024.

RCF CC Refurbishment Grants – Grant income paid via Rangers Charity Foundation to RCFCC Ltd for pitch and building refurbishment costs.

RCF CC Running Costs Grants – Grant income paid via Rangers Charity Foundation to RCF Community Complex (RCFCC Ltd) post 1 January 2024.

RCF Community Complex Lets – Payment for facility hire at the RCF Community Complex made via Rangers Charity Foundation.

VI Football – Income to run pilot community course.

37

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

23. Analysis of charitable funds – Group (continued)

150 Appeal – To commemorate the 150th anniversary of Rangers Football Club, the Rangers Charity Foundation created a special 150 Anniversary Appeal to help build the future of the Foundation. This fund will be restricted to support the following three projects: A New 3 Year Disability Football Programme, Expansion of Hub in the Community Schools, Ibrox Community Hub Renovation and Dream Fund.

Transfers – The above noted transfers are in relation to overspends on restricted funds along with underspends on funds complete.

24. Net assets over funds – Group

4. Net assets over funds – Group
2025
Debtors
Cash
Creditors
2024
Debtors
Cash
Creditors		 Unrestricted
Funds
£
150,242
894,832
(344,111)
700,963
Unrestricted
Funds
£
161,356
782,777
(402,254)
541,879		 Restricted
Funds
£
-
5,111
-
5,111
Restricted
Funds
£
-
63,467
-
63,467		 Total
2024
£
150,242
899,943
(344,111)
706,074
Total
2023
£
161,356
846,244
(402,254)
605,346

38

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

25. Reconciliation of net expenditure to net cash flow from operating activities

Net income/(expenditure) for the year per
the statement of financial activities
Adjustments for:
(Increase)/Decrease in debtors
(Decrease) in creditors
Interest received
Net cash provided by /(used in)
operating activities		 (2,953)
(2,953)
-
-
Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
100,728
(16,641)
(22,156)
51,885
11,114
(10,613)
42,405
50,220
(58,143)
(20,841)
(52,140)
(157,681)


50,746
(51,048)
(31,891)
(55,576)

26. Analysis of cash and cash equivalents

Cash at bank and in hand
Total cash and cash equivalents		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
899,943
774,464
846,244
822,559
899,943
774,464
846,244
822,559

27. Operating lease commitments

At the year-end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows;

In less than one year
Between two and five years
Greater than five years		 2025
£
2024
£
750
750
3,000
3,000
13,500
14,250
17,250
18,000

28. Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

39

Docusign Envelope ID: 8EBDAC05-D559-4697-88FB-E58F3344704C

THE RANGERS CHARITY FOUNDATION SCIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025

28. Judgements and key sources of estimation uncertainty (continued)

Allocation of expenditure between activities – Support costs are allocated between charitable activities and governance based on the time spent by senior management on undertaking the charity’s activities.

Critical Judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Leases

Determine whether leases entered into by the charity either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease-by-lease basis.

29. Taxation

9. Taxation
Current tax
UK corporation tax on profits for the current period		 2025
£
2024
£
10,519
-
10,519
-

40