Caseware UK (AP4) 2024.0.164 2024.0.164 Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-3095376626141949537662024-06-30No description of principal activity2023-07-01false762024-06-30 10071079 2023-07-01 2024-06-30 10071079 2022-07-01 2023-06-30 10071079 2024-06-30 10071079 2023-06-30 10071079 2023-07-01 10071079 2022-07-01 10071079 c:CompanySecretary1 2023-07-01 2024-06-30 10071079 c:RegisteredOffice 2023-07-01 2024-06-30 10071079 d:CurrentFinancialInstruments 2024-06-30 10071079 d:CurrentFinancialInstruments 2023-06-30 10071079 c:FRS102 2023-07-01 2024-06-30 10071079 c:Audited 2023-07-01 2024-06-30 10071079 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10071079 b:Trustee1 2023-07-01 2024-06-30 10071079 b:Trustee2 2023-07-01 2024-06-30 10071079 b:Trustee3 2023-07-01 2024-06-30 10071079 b:Trustee4 2023-07-01 2024-06-30 10071079 b:Trustee5 2023-07-01 2024-06-30 10071079 b:Trustee6 2023-07-01 2024-06-30 10071079 b:Trustee7 2023-07-01 2024-06-30 10071079 b:UnrestrictedFundsGeneral 2023-07-01 2024-06-30 10071079 b:UnrestrictedFundsGeneral 2024-06-30 10071079 b:UnrestrictedFundsGeneral 2023-06-30 10071079 c:ChiefExecutive 2023-07-01 2024-06-30 10071079 b:TotalUnrestrictedFunds 2024-06-30 10071079 b:TotalUnrestrictedFunds 2023-06-30 10071079 c:FullAccounts 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10071079
Charity number: 1167276










MATCHROOM CHARITABLE FOUNDATION
(A company limited by guarantee)









TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and Directors and advisers
 
1
Trustees' report
 
2 - 4
Trustees' responsibilities statement
 
5
Independent auditor's report on the financial statements
 
6 - 9
Statement of financial activities
 
10
Balance sheet
 
11
Statement of cash flows
 
12
Notes to the financial statements
 
13 - 23

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND DIRECTORS AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2024


Trustees and Directors
  
S J Hearn, Chair
C L Godding, Trustee
C G Hearn, Trustee
E R C Lowy, Trustee
J E Ferguson, Trustee
W F Barker, Trustee
A Le Guevel, Trustee


Company registered number

10071079

Charity registered number

1167276

Registered office

MascallsMascalls LaneGreat WarleyBrentwoodEssexCM14 5LJ

Company secretary

W F Barker

Chair

S J Hearn

Independent auditor

Barnes Roffe LLPChartered Accountants & Statutory AuditorLeytonstone HouseLeytonstoneLondonE11 1GA

Page 1

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report together with the audited financial statements of the Matchroom Charitable Foundation for the yearperiod 1 July 2023 to 30 June 2024The Annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required.
 

Objectives and activities
 

a. Policies and objectives
 

The charity's objectives are to administer and promote grants, awards and donations to various charities in the United Kingdom from income received from a percentage of ticket sales to sporting events in partnership with Matchroom Sport Limited.
 

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
 

b. Activities for achieving objectives
 

The Foundation collects £1 from the sale of each ticket to sporting events by Matchroom Sport Limited and its subsidiaries, The Professional Darts Corporation Ltd, World Series of Darts Ltd, World Snooker Ltd, Matchroom Boxing Ltd and Matchroom Multi Sport Ltd (its Partner Companies) in order to fund its charitable aims. 
 

Achievements and performance
 

a. Review of activities
 

Within the year we have received numerous grants from our core donators, which the Trustees have then decided the relevant charitable organisation to gift these incomes to. 
 

Financial review
 

a. Financial review
 

During the period the charity raised £1,686,015 (2023 - £921,754) in donations and distributed £845,500 (2023 - £597,000) to UK charities. 
At the year end the charity has reserves of £1,307,097 
(2023 - £476,883) which were held ready for distribution to selected charities following the agreement of the Trustees.
 

Page 2

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 
Financial review (CONTINUED)

b. Reserves policy
 

The charity does not have a policy in respect of the retention of reserves. The funds retained at the year end are awaiting completion of the boards process to approve the distribution of the relevant grants. 
As the charity does not have any staff or significant overhead costs, the need to hold any reserves is not deemed necessary. 
 

c. Principal risks and uncertainties
 

The charity's principal risk is its reliance on the sale of tickets to sporting events by Matchroom Sport Limited and its subsidiaries, The Professional Darts Corporation Ltd, World Series of Darts Ltd, World Snooker Ltd Matchroom Boxing Ltd and Matchroom Multi Sport Ltd which determines the level of donations received. 
 

Structure, governance and management
 

a. Constitution
 

The company is registered as a charitable company limited by guarantee governed by its Memorandum and Articles of Association dated 10 March 2016. The company is a registered charity with the Charity Commission with number 1167276. The company registration number is 10071079.
The principal address of the charity is Mascalls, Mascalls Lane, Great Warley, Brentwood, CM14 5LJ.
The company was incorporated on 18 March 2016.
 

b. Methods of appointment or election of trustees
 

The appointment of Trustees is the responsibility and subject to the approval of the Trustees under the terms of the Articles of Association.
Training of trustees
The trustees are regularly provided with any new guidance released and external courses are available and can be attended where deemed necessary. 
 

Page 3

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 
Structure, governance and management (CONTINUED)

c. Organisational structure and decision-making policies
 

S J Hearn - Chair, Director & Trustee
W F Barker - Director & Secretary (appointed 24 June 2024)
J E Ferguson - Director & Trustee
C L Godding - Director & Trustee
C G Hearn - Director & Trustee
E R C Lowy - Director & Trustee
A Le Guevel - Director & Trustee (appointed 24 June 2024)
S J Hearn has been appointed as the chair and has been given the responsibility to manage the Charity on a day-to-day basis. Supported by the directors and trustees she continues to build relationships and liaise with those organisations that the Charity continues to support. The Chair is supported by the Secretary, W F Barker, who provides adminstrative support. 
Grant making policy
Grant making policy and strategy remains with the board. The trustees discuss and agree on the grants to be made based on their individual merits at each board meeting. 
 

Plans for future periods
 

The plan for future periods is to continue to obtain the donations from ticket sales made in order to fund its charitable aims. The intention going forward is to increase the grants provided as cashflows and one-off donations permit. 
 

Small companies note
 

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
 
Disclosure of information to auditor
 

Each of the persons who are trustees at the time when this Trustees' report is approved has confirmed that:

so far as that trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
 

 

Approved by order of the members of the board of trustees and signed on their behalf by:



W F Barker
(Trustee)

Date: 26 February 2025


Page 4

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
 

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

The trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Approved by order of the members of the board of trustees and signed on its behalf by:



W F Barker

Date: 26 February 2025


Page 5

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION
 

Opinion


We have audited the financial statements of Matchroom Charitable Foundation (the 'charitable company') for the year ended 30 June 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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:

give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charitable company'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.


Page 6

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION (CONTINUED)


Other information


The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The trustees are responsible for the other information contained within the Annual reportOur 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Trustees' report which includes the directors' report prepared for purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements.
the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception


In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.


We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.


Page 7

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION (CONTINUED)


Responsibilities of trustees


As explained more fully in the Trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.
 

Auditor's responsibilities for the audit of the financial statements


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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the Company through discussions with directors, and from our commercial knowledge and experience of the relevant sector;
The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, are as follows - Companies Act 2006, FRS 102, Charities Act 2011 and Tax legislation.
We assessed the extent of the compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.
Laws and regulations were communicated within the audit team at the planning meeting, and the audit team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
Reviewing the financial statements and testing the disclosures against supporting documentation;
Page 8

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MATCHROOM CHARITABLE FOUNDATION (CONTINUED)


Performing analytical procedures to identify any unusual or unexpected trends or anomalies.


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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.


Other matters
 

In the previous accounting period the Company was granted the small charitable companies audit exemption. Therefore the prior period financial statements were not audited.


Use of our report
 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.





Mehmet Hussein (FCA) (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory Auditors
Chartered Accountants & Statutory Auditor
Leytonstone House
Leytonstone
London
E11 1GA

26 February 2025
Page 9

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2024


Unrestricted funds
2024
Total
funds
2024
Total
funds
Unaudited 2023
Note
    £    
    £ 
     £   

Income from:






Donations


1,686,015

1,686,015

921,754
 
Investments

2

-

-

3,960
 
Total income
1,686,015
1,686,015
925,714
Expenditure on:











Charitable activities:

4




Support costs



10,301

10,301

6,888
 
.Other charitable activities


845,500

845,500

597,000
 
Total expenditure
855,801
855,801
603,888


Reconciliation of funds:

  




Total funds brought forward

  

476,883

476,883

155,057
 
Net movement in funds

  

830,214

830,214

321,826
 
Total funds carried forward
  
1,307,097
1,307,097
476,883

The notes on pages 13 to 23 form part of these financial statements.

Page 10

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)
REGISTERED NUMBER: 10071079

 
 
BALANCE SHEET
AS AT 30 JUNE 2024


2024
Unaudited 2023
Note
£
£

Current assets
  

Cash at bank and in hand
  
1,315,497
481,923

Creditors: amounts falling due within one year
 9 
(8,400)
(5,040)

Net current assets 
  
 
 
1,307,097
 
 
476,883

Total assets less current liabilities
  
1,307,097
476,883

Total net assets 
  
1,307,097
476,883


Charity funds
  

Unrestricted funds
 10 
1,307,097
476,883

Total funds
  
1,307,097
476,883

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the trustees on 26 February 2025 and signed on their behalf by:




W F Barker
Trustee

The notes on pages 13 to 23 form part of these financial statements.

Page 11

 
MATCHROOM CHARITABLE FOUNDATION
 
(A company limited by guarantee)

 
 
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
Unaudited 2023
£
£

Cash flows from operating activities

Net cash used in operating activities

833,574
357,969

Cash flows from investing activities

Net cash provided by investing activities

-
-

Cash flows from financing activities

Net cash provided by financing activities

-
-

Change in cash and cash equivalents in the year
 
833,574
 
357,969

Cash and cash equivalents at the beginning of the year
481,923
123,954

Cash and cash equivalents at the end of the year
1,315,497
481,923

The notes on pages 13 to 23 form part of these financial statements

Page 12

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.ACCOUNTING POLICIES

  
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Matchroom Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.


1.2

COMPANY STATUS

Matchroom Charitable Foundation is a company limited by guarantee, incorporated in England and Wales. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. Its registered office is Mascalls, Mascalls Lane, Great Warley, Brentwood, Essex, CM14 5LJ.

  
1.3

GOING CONCERN

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. Accordingly, they continue to adopt the going concern concept in preparing these financial statements.

  
1.4

INCOME

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

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

  
1.5

EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

Page 13

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.5

EXPENDITURE (CONTINUED)

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except, in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 

  
1.6

INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the Bank.

  
1.7

CASH AT BANK AND IN HAND

Cash at bank and 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.


1.8

LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

  
1.9

FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Page 14

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.

INVESTMENT INCOME


Total
funds
2024
  £


Investment income - cash

-




Unrestricted funds
Unaudited 2023
Total
funds
Unaudited 2023
     £   
    £    



Investment income - cash

3,960

3,960


Page 15

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.

ANALYSIS OF GRANTS



Grants to Institutions
2024
Total
funds
2024
     £    
     £   



Grants to welfare charities

845,500

845,500






Grants to Institutions
Unaudited 2023
Total
funds
Unaudited 2023
    £    
    £    



Grants to welfare charities

597,000

597,000


Page 16

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.ANALYSIS OF GRANTS (CONTINUED)

The Company has made the following material grants to institutions during the year:

2024
Unaudited 2023
£
£

NAME OF INSTITUTION

Alexandra Park and Palace Charitable Trust
60,000
60,000

Saint Francis Hospice
50,000
50,000

The Eden Dora Trust
-
35,000

Kids Inspire
20,000
20,000

REACH
-
25,000

Newlife
-
30,000

MNCC
-
84,000

Changing Faces
-
30,000

The Jessie May Trust
55,500
30,500

Haven House Children's Hospice
50,000
87,500

Handicapped Childrens Action Group
-
10,000

Addenbrooke's Charitable Trust
100,000
100,000

BLESMA
-
30,000

Thurrock Youth Zone
300,000
-

Barking & Dagenham Youth Zone
50,000
-

Paces Sheffield
25,000
-

Special Needs and Parents Limited
30,000
-

Strongbones Children's Charitable Trust
20,000
-

Thr Rotherham Hospital and Community Charity
25,000
-

785,500
592,000

Other grants to insitutions
60,000
5,000

845,500
597,000

Page 17

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.

ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES





Unrestricted funds
2024
Total
2024
     £    
      £    



Support costs

10,301

10,301

Grants

845,500

845,500

TOTAL 2024


855,801
855,801



Unrestricted funds
Unaudited 2023
Total
Unaudited 2023
     £    
    £  



Support costs

6,888

6,888

Grants

597,000

597,000

TOTAL 2023


603,888
603,888


5.

ANALYSIS OF EXPENDITURE BY ACTIVITIES




Grant funding of activities
2024
Support costs
2024
Total
funds
2024
     £    
     £    
      £   




Support costs

-

10,301

10,301

Grants

845,500

-

845,500

TOTAL 2024


845,500
10,301
855,801





Page 18

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Grant funding of activities
Unaudited 2023
Support costs
Unaudited 2023
Total
funds
Unaudited 2023
     £   
     £    
     £   




Support costs

-

6,888

6,888

Grants

597,000

-

597,000

TOTAL 2023


597,000
6,888
603,888


ANALYSIS OF SUPPORT COSTS



Support costs
2024
Total
funds
2024
     £    
      £     



Bank charges

229

229

Charity insurance

1,659

1,659

Audit fee

8,160

8,160

Governance Annual return fee

13

13

Other administrative costs

240

240

TOTAL 2024


10,301
10,301



Support costs
Unaudited 2023
Total
funds
Unaudited 2023
    £    
    £    



Bank charges

214

214

Charity insurance

1,621

1,621

Governance independent examination fee

4,800

4,800

Governance annual return fee

13

13

Other administrative costs

240

240

TOTAL 2023


6,888
6,888

Page 19

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.

AUDITOR'S REMUNERATION

The auditor's remuneration amounts to an auditor fee of £8,160 (2023 - £4,800).

7.



STAFF COSTS





The average number of persons employed by the Company during the year was as follows:


2024
Unaudited 2023

No.
No.


Directors
7
5

Employees
-
1

7
6

No employee received remuneration amounting to more than £60,000 in either year.





8.


NET INCOME/(EXPENDITURE)

During the year, no trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 June 2024, no trustee expenses have been incurred (2023 - £NIL).


9.



CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024
Unaudited 2023
£
£


Accruals and deferred income
8,400
5,040

Page 20

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.

STATEMENT OF FUNDS


STATEMENT OF FUNDS - CURRENT YEAR

Balance at 1 July 2023
£
Income
£
Expenditure
£
Balance at 30 June 2024
£

UNRESTRICTED FUNDS





General Funds - all funds

476,883

1,686,015

(855,801)

1,307,097
 



STATEMENT OF FUNDS - PRIOR YEAR

Balance at
1 July 2022
£
Income
£
Expenditure
£
Balance at
30 June 2023
£

UNRESTRICTED FUNDS





General Funds - all funds

155,057

925,714

(603,888)

476,883
 





11.

SUMMARY OF FUNDS


SUMMARY OF FUNDS - CURRENT YEAR

Balance at 1 July 2023
£
 
Income
£
 
Expenditure
£
 
Balance at 30 June 2024
£
 
General funds

476,883

1,686,015

(855,801)

1,307,097
 


SUMMARY OF FUNDS - PRIOR YEAR

Balance at
1 July 2022
£
 
Income
£
 
Expenditure
£
 
Balance at
30 June 2023
£
 
General funds

155,057

925,714

(603,888)

476,883
 

Page 21

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.

ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

Unrestricted funds
2024
Total
funds
2024
        £
        £


Current assets

1,315,497

1,315,497

Creditors due within one year

(8,400)

(8,400)

TOTAL 


1,307,097
1,307,097



ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD

Unrestricted funds
2023
Total
funds
2023
        £
        £


Current assets

481,923

481,923

Creditors due within one year

(5,040)

(5,040)

TOTAL 

476,883
476,883


13.


RELATED PARTY TRANSACTIONS

The charity received donations of £345,020 (2023 - £301,222) from companies of which some of the Trustees are also directors.
The charity received donations of £1,250,000 
(2023 - £562,500) from an individual who is connected to the Trustees of the charity.
There are no terms and conditions attached to the above related party transactions.

Page 22

 
MATCHROOM CHARITABLE FOUNDATION

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.



RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES


2024
Unaudited 2023
£
£

Net income for the period (as per Statement of Financial Activities)



830,214

321,826

ADJUSTMENTS FOR:

Investment income
-
(3,960)

Decrease in debtors
-
40,103

Increase in creditors
3,360
-

NET CASH PROVIDED BY OPERATING ACTIVITIES
833,574
357,969



15.



ANALYSIS OF CASH AND CASH EQUIVALENTS


2024
Unaudited 2023
£
£

Cash in hand
1,315,497
481,923


16.



ANALYSIS OF CHANGES IN NET DEBT





At 1 July 2023
Cash flows
At 30 June 2024
£
£

£

Cash at bank and in hand

481,923

833,574

1,315,497



481,923
833,574
1,315,497

Page 23