| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Audited Financial Statements for the Year Ended 31 August 2024 |
| for |
| The Russell Martin Foundation |
| (A Company Limited by Guarantee) |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Audited Financial Statements for the Year Ended 31 August 2024 |
| for |
| The Russell Martin Foundation |
| (A Company Limited by Guarantee) |
| The Russell Martin Foundation |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 12 |
| Report of the Independent Auditors | 13 | to | 16 |
| Statement of Financial Activities | 17 |
| Balance Sheet | 18 |
| Cash Flow Statement | 19 |
| Notes to the Cash Flow Statement | 20 |
| Notes to the Financial Statements | 21 | to | 34 |
| The Russell Martin Foundation |
| Reference and Administrative Details |
| for the Year Ended 31 August 2024 |
| TRUSTEES |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| INDEPENDENT AUDITORS |
| Chartered Certified Accountants |
| Nile House |
| Nile Street |
| Brighton |
| East Sussex |
| BN1 1HW |
| CEO | Alan Sanders |
| ACCOUNTANTS | Style and Silver |
| Bank House |
| Southwick Square |
| Southwick |
| West Sussex |
| BN42 4FN |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The charity's objects are for the benefit of the public generally, both in the UK and overseas and, in particular, the inhabitants of Brighton, East Sussex and its surrounding areas: |
| - to promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health (facilities in this means land, buildings, equipment and organising activities); |
| - to advance the education (including academic, social and physical education) of such people through such charitable means as the Trustees think fit; |
| - to encourage children and young people to participate in the game of association football, other leisure-time activities and educational activities so that they might grow to maturity as individuals and members of society and so that their conditions of life may be improved; |
| - for the general purposes of such charitable bodies or for such other exclusively charitable purposes in each case as the Trustees may from time to time decide. |
| Our Vision - For the local community to prosper. |
| Our Mission Statement - |
| Using the power of football to empower individuals to improve their lives and their environment. |
| Our Values - Opportunity Inclusivity Quality Sustainability |
| For greater detail please vist our website at www.russellmartinfoundation.co.uk |
| Aims and significant activities |
| The Russell Martin Foundation is a non-profit organisation based in Brighton & Hove which uses the power of football to help change people's lives. It was set up by professional footballer Russell Martin who wanted to give something back to the city where he was born. |
| Public benefit |
| The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| ACHIEVEMENT AND PERFORMANCE |
| Message from Russell Martin, Founder and Chair of the Board of Trustees |
| I am delighted to reflect back on 2023-24 as a year of continuing success for our foundation. Our football and sports participation programmes have flourished, providing players of all ages and abilities with more opportunities than ever before in which to learn, build their confidence, develop their skills and improve their health and wellbeing. Particularly noteworthy has been the significant growth of our girls' only programmes, including football tournaments, which are a key part of our strategic plan. |
| On the educational front, we have expanded our reach across Sussex through our Extra Time Projects centres which support disadvantaged pupils and their families. The effort put in by our staff to cannot be overstated and is highly praised by all our partners in the local community. |
| Our disability section is also experiencing growth, making an important difference in the lives of children and adults across Sussex. The increase in confidence among the students and participants attending these sessions is truly heartening and reinforces our mission. |
| The final approval process for the Old Barn Way facility which will be of huge benefit to the local community, is nearing completion and will be monumental milestone for the foundation upon its development. The dedication and hard work by everyone involved in bringing this vision to reality has been nothing short of outstanding. |
| I would like to take this opportunity to thank all our amazing staff, our supportive trustees, our valued community partners and our generous funders and sponsors. |
| The entire team at RMF has embraced their work with ambition, enthusiasm, and shared commitment for growth and improvement of all our projects. We are filled with excitement about the future and the possibilities it holds for us. |
| Message from Alan Sanders CEO |
| 2023-24 has been yet another year that has continued the trend of overall growth for RMF. Although this is not the only the measure of success to which we hold ourselves accountable to, it does give an overall picture of how we have been able to extend our provision for the local community, both geographically and also in terms of the variety of programmes we offer. |
| Whilst we are keen to work in partnership with all relevant charities and like-minded organisations we do think it is important to measure ourselves against others so that we can see where improvements can be made. We were extremely proud this year to be recognised regionally as finalists in the Central South Business Awards and nationally as one of the top three football community schemes outside of the Premier League at the Football Business Awards. |
| The end of this financial year means we are two thirds of the way through our three-year strategy. We are confident that by August 2025 we will have achieved and surpassed many of the targets through key performance indicators we set ourselves back in September 2022. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| CHARITABLE ACTIVITIES |
| Russell Martin Academy (RMA) |
| RMA ran at over 80% capacity for its sessions across all venues throughout the year. Sessions and activities included: |
| - Invite-only centres, with a focus on identifying talented players to train in these groups, rather than being open to all grassroots players wanting to participate. |
| - Our three RMA Centres, (University of Brighton, Burgess Hill and Hove Park) all had waiting lists due to the popularity of our provision. |
| - RMA Tournaments were very successful with an increase in participation from 2023 tournaments. |
| - Trips and Tours. For our annual trip to the Gothia Cup, in Gothenburg, Sweden, we took three squads (U15 and U16 age groups) including our first ever girls' team. In all, we took 47 players and 8 staff. We also participated in the Barcelona Football Festival where we took 2 squads (U11s and U12/13s). This was a huge success, with the U12/13s squad finishing third. |
| - Saturday Morning Soccer (Hove Park). This was very successful with the 5-7 year old group being at full capacity, and the 8-11 year old group running at 75% throughout the year. |
| - Free Kicks for Girls - our sponsored Saturday morning sessions for Girls' Only football. |
| - Fixtures Programme - this has been widened to include more game time. This includes the RMA. |
| - Play Series for our Development Centre groups, and fixtures during each school holiday break, including a trip to Norwich for the Canary Cup. |
| - Schools Provision - we have seen an increase in the services we provide our current schools, working closely with their school teams and also creating Girls' Only after school clubs. |
| - Social Football - this includes birthday parties which saw a sharp increase in demand. Funds raised are used to support our outreach and inclusive programmes at introductory level. |
| Facility Management |
| Hove Park |
| - The Hove Park 3G pitch enables the Russell Martin Academy (RMA) to run football development sessions, elite sessions, holiday courses, birthday parties and 1-2-1 coaching. |
| - Our live booking system provides an automated updated booking platform that allows members of the public to book singular or block bookings. |
| - The facility is manned 7 days a week until 10pm, with one full time member of staff and four self-employed. |
| - There has been an increase in the use of the Hove 3G pitch for inclusion and health programmes, including disability and refugee projects. |
| - Overall, there was an 11% increase in usage during 2023-24 |
| Old Barn Way, Southwick |
| - RMF has been awarded £2 million funding to develop the Old Barn Way site. |
| - We hope to have planning permission by the end of March 2025 to build a new full-size artificial pitch and clubhouse. |
| - It is hoped that the facility will be available for public use as well as being a home for Russell Martin Academy activities and senior club football matches. |
| - The clubhouse will be used for educational and health programmes when not being used for football-related activities. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| Post 16 programmes |
| Varndean College |
| - The academic year ended on a high as our First XI finished top and were crowned champions of the AOC Southern Division. This is the second time we have won this division in 3 years, having narrowly missed out by one point last season. |
| - The First XI also reached the quarter finals of the ESFA U18 National Super League, and the last 32 of the U19 AOC National Cup, unfortunately losing out on penalties. |
| - We maintained our impressive record of having another of our college students representing England Colleges at football. This means that 5 of our students in the last 7 years have pulled on the England shirt and represented RMA. |
| - The Second XI finished second in the Sussex U18s College League. This was their highest ever finish after a very successful season, with many players switching across to the first XI in the later stages of the season, showing great progression and development over the course of the year. |
| Shoreham Academy |
| - We have completed our second year at Shoreham Academy with our First XI finishing sixth in the league, their highest position for many years. |
| - We have had the highest student attendance on our training sessions, and the numbers of individuals enrolled on the course increased. As a result, we have secured an extension to our original contract with Shoreham Academy. |
| - We continue to operate a very good pathway for students seeking part time work, and many now go into full time contracted work with us. We employ students from our Post 16 programmes in various capacities as RMA Development Centre coaches, helping to look after facilities at Hove Park, staffing our tournaments, and supporting our after school clubs and holiday courses |
| Education |
| Key Stage 3 |
| - We delivered our respite alternative provision programme, the Extra Time Project (ETP) to 11-14 year old students in Brighton, Crawley, Newhaven and Worthing. |
| - ETP was praised by all Ofsted Inspectors who visited our centres as part of their mainstream school inspections. |
| - Despite government funding cuts, schools have continued to place children within our alternative provision. |
| - Children have enjoyed a variety of trips and opportunities within their local community, from library visits to cooking lessons, and guest speakers from organisations such as the Connor Saunders Foundation and St John's Ambulance. |
| - Aspiration sessions linked to our Random Acts of Kindness project offered children question and answer sessions with our founder, Russell Martin, where they were able to talk about their hopes for the future and discuss career paths. |
| Key Stage 4 |
| - This ETP provision has been aimed at students who are likely to obtain few GCSE's and who have an interest in sport. |
| - It includes a Sports Leadership Level 1 qualification and has been delivered to students aged 15-16 at our Brighton and Worthing ETP centres. |
| - Children reported that they gained valuable life skills around delivering sports sessions, health and fitness education, as well as completing their qualifications. |
| - We are looking to expand this provision in the future with a variety of other qualifications. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| Adult Education |
| - This provision is aimed at adults how have no or few qualifications, particularly those who are parents or carers of children who attend our Extra Time Project (ETP). |
| - We have delivered health and well-being qualification with a100% pass rate. |
| - In response to the cost of living crisis we have used "Multiply" funding from local councils to help adult learners to better deal with family and household budgeting. |
| - From the adults attending our education programme we have been able to recruit more volunteers for our Foundation, and also to offer to offer paid employment to some learners. |
| Health Improvement |
| - RMF has been delivering diversionary programmes aimed at health improvement in Crawley, commissioned by Crawley Council, with Violence Reduction Partnership funds. |
| - Through a programme of football and boxing we engaged with young people at crime hotspots, provided mentoring and raised awareness of the dangers of drug and alcohol. |
| - We also provided meals for vulnerable children who may not have access to healthy food over the summer holidays. |
| - Nuffield Health have been supporting our work with disadvantaged students attending our Extra Time Project centre in Crawley, offering boxing lessons and PE sessions. Response from the children was incredibly positive as was the feedback from the council and partner agencies Crawley Town FC and Crawley Youth Boxing Club. |
| - We have added mentoring for parents to the activities we offer pupils on our Key Stage 2 Transition education programme, offering coffee mornings at Moulsecoomb Primary School, Brighton which include adult education, signposting and guidance. |
| - We have been working holistically with families to improve their mental health and wellbeing, with families reporting feeling more contained and able to share concerns with RMF as a 'trusted' agency. |
| - RMF has continued to work with the Acts 435 charity who have provided financial support to aid the health and wellbeing of the deprived pupils attending our Extra Time Project centres in Sussex. Acts 435 have paid for children's clothes, cleared debts for families in overcrowded accommodation, and provided ovens for families who could not cook hot meals for their children. |
| Other Projects |
| Rehabilitation for Offenders |
| - RMF has been supporting adults to reintegrate into the community on completion of their sentences at Lewes and Ford Prisons through our Probation Service contract via Charlton Athletic Community Trust, funded by English Football League (EFL). This includes mentoring to build offenders' confidence and aspirations, helping them seek employment and volunteering opportunities, and increasing community cohesion. |
| - RMF has been providing mentoring sessions for children at secure accommodation at Swanwick Secure Lodge (Southampton) and Oasis Restore Secure School (Medway), working to improve their mental health. |
| - We have delivered mentoring sessions for children aged 14 -17 within Youth Offenders Institutes at Cookham Wood and Feltham, providing short term goal setting for boys who have received long term or life sentences, raising aspirations and building resilience. |
| - We have also prepared mentoring sessions for young people placed at HM Prisons ISIS and Feltham, covering opportunities within the prison system, longer term goal setting and improvement of their mental health. |
| - Feedback has been very positive from the young people, including 'I loved working with Charlie and Gerry and can't wait for them to return. They got me'. And 'Charlie was so honest and made me think about my actions and what opportunities I might have when I get out'. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| Working with Professional Football Clubs |
| - Commissioned by the Professional Football Association (PFA), RMF's ex professional footballer Charlie Oatway has been visiting young players at Under 21 level at professional football clubs to deliver mentoring and guidance. |
| - This covers the pitfalls of professional football, raising awareness of mental health and signposting the educational support available through the PFA. |
| - To date RMF has visited and supported young players at the following football clubs: Southampton FC, Charlton Athletic FC, Queens Park Rangers FC and AFC Wimbledon. |
| Disability (Post 16) |
| - We have increased the number of disability sessions delivered in Brighton & Hove as well as in Haywards Heath. |
| - Fixtures are now being played against other organisations. |
| - We have secured a long-term booking at a new venue, Manor Gym Hall, which has seen an increase in numbers attending our programmes. |
| Inclusion (Under 16s) |
| - 2023-2024 saw the introduction of an RMF Inclusion department delivering inclusion activities in mainstream schools thanks to funding from the Fonthill Foundation. |
| - RMF is now working with primary schools across Brighton & Hove supporting children with such complex needs that they require individual or one to two attention. |
| Case Studies |
| Extra Time Project |
| S. was referred to RMF due to challenging behaviour, including truancy, refusal to wear school uniform, and aggressive responses to staff. He faced the likelihood of permanent exclusion from mainstream school in Year 9. As a result, he was offered a placement at our Extra Time Project (ETP,) where work began on assessing his social and emotional needs. |
| Through building trusting relationships in ETP's supportive environment, S. disclosed fears about his home life. He revealed his role as a young carer for his siblings following his parents' separation and their exposure to domestic violence and economic abuse. With the help of the therapy dog, S.'s confidence grew, and he disclosed past abuse at home. |
| ETP referred S.'s family for social support, helped with basic needs like uniforms and food, and started an Education, Health & Care Plan (EHCP) assessment. This led to a successful transition back to mainstream school, where attendance improved, and nurture hubs and key staff support were put in place to manage his behaviour. During the ETP placement, severe dyslexia was identified, and assistive technology was provided to aid his learning. As S.'s fears and responsibilities at home reduced, his aggressive responses decreased. He reported feeling happier, more in control, and more engaged with his education upon his return to mainstream school. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| Disability & Inclusion Success |
| "As the Disability & Inclusion Lead at Russell Martin Foundation, you responded promptly and supportively to our inquiry about a young man with a brain injury who previously played (football) as a goalie. You provided clear details about the session requirements, making the process smooth and welcoming. |
| On arrival, you offered immediate 1:1 support to assess his needs, ensuring he could participate without delay. The session was outstanding, showcasing a level of diversity and inclusion rarely seen in similar settings. His participation was seamless, and he continues to enjoy attending, even looking forward to getting a long-sleeved shirt with elbow pads. |
| Your inclusive approach allowed him to interact confidently, and it was a pleasure to see him engaging verbally with new people for the first time. The group's diversity, along with Coach Brandon's discreet support, highlighted your commitment to wellbeing, engagement, and sport for all. |
| After 20 years in this field, I've never seen such a successful project. I wholeheartedly recommend this initiative to others in the therapy and rehabilitation community." |
| RMF's Support at Brunswick Primary School |
| The Russell Martin Foundation has been a vital partner in supporting local Primary Schools with sports participation, particularly in promoting sports activities for children with additional needs. At Brunswick Primary School we successfully ran an after-school Sports Club tailored for their most complex pupils, helping them to engage and interact with their peers in ways that were previously challenging. |
| "Jess Barnes, along with her dog Xoleni, has also been a key figure during our Diversity & Belonging Week, inspiring our Year 1 and Reception students to understand how people with disabilities can adapt and succeed with support." Brunswick Primary School. |
| "Our son, D, who has autism, has thrived in this inclusive environment. The familiar setting has boosted his willingness to engage, improving his physical health, social skills, coordination, and self-confidence. This club has been transformative, providing essential support that helps children like D. reach their full potential. We are incredibly grateful for the foundation's impact on our school |
| community." Parent. |
| Media & Communications |
| This year the Media & Communications team at RMF has played a key role in growing the foundation's reach, raising awareness about our programmes, and engaging with our community. |
| During 2023-24, our focus was on growing our online presence, increasing engagement across social media platforms, and enhancing the user experience on our website. |
| Our social media channels have seen significant growth. We focused on delivering content that highlights RMF programmes. Across platforms such as Instagram and Facebook, we gained over 1,000 more followers, reaching 70,000 accounts this year from our top 12 posts; last year the number was 43,000. |
| We redesigned the RMF website to improve its functionality and the user experience. The updated site now offers easier navigation for all users on any device. Traffic to the website has stayed about the same during the past year, however users had better engagement time. In addition to our digital media, we had local and national press stories which covered key events, including Russell Martin's honorary degree awarded by Brighton University. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| Looking forward, the Media & Communications team will continue to enhance RMF's social medial reach, exploring new platforms like TikTok to reach younger audience. |
| FINANCIAL REVIEW |
| Financial position |
| The results for the year are as follows: total income for the year was £1,448,826 (2023: £1,248,681) and of this, £692,289 (2023: £572,521) related to restricted income. Expenditure for the year was £1,505,538 (2023: £1,281,162) and of this £713,922 (2023: £565,519) was restricted expenditure. |
| There was an overall net deficit for the year of £56,712 (2023: net deficit of £32,481) and this was made up of a net surplus on unrestricted funds of £16,695 and a net deficit on restricted funds in the year of £73,407. Unrestricted reserves carried forward at the 31st August 2024 were a surplus of £36,348. |
| Reserves policy |
| The trustees' reserve policy is to have 3 months of operating costs to cover any unexpected eventualities, but given our current situation and the economic climate it would be reasonable to not expect this to be a reality for the next 3 years. |
| There are two key reasons why in 2023-24 our reserves have been depleted. Firstly, the Old Barn Way development for our restricted budget was in deficit (-£54,780) and we have used reserves to account for this. Secondly, there has been a significant rise in central costs. As a charity we do not ask partners or bid for funding with more than 15% of specific projects going towards these costs. Unfortunately, our overheads have risen beyond 15% mainly due to the economic climate. It is recognised by the trustees that there are few cutbacks that can be made within these costs, and therefore our strategy is to raise the level of unrestricted funds to cover this increase. To date, we have now recovered any deficit, and by August 2025 we expect our reserves to be in a much healthier position. |
| Our successful strategy for raising the level of reserves has been to target unrestricted funding by: |
| - Increasing commercial sponsorship |
| - Increasing the number of funding bids applied for |
| - Increasing fund-raising activities |
| To monitor and review this policy we will make reserve funding a standard item on our quarterly trustee meetings. We are looking to employ a Director of Finance in 2025-26, and the budget for next year will focus on raising unrestricted funds with a drive towards building up our reserves. This is especially important given the deficit budgets which many of our partner schools and local authorities are working with, as reliance on these partners cannot be guaranteed. |
| Going concern |
| At the balance sheet date the charity showed negative funds. The Trustees are actively managing reserves and cashflow by the monitoring of incoming and outgoing resources and with regular management accounts. The management accounts as at March 2025 show a surplus for the period and a positive reserves balance. |
| Funds in deficit |
| At the year end the charity had a deficit of £54,780 on the Old Barn Way project. The deficit arose due to initial expenditure being incurred before funding for the project has been received. The deficit position on this project will be rectified in the year ended 31st August 2025 |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| FUTURE PLANS |
| We are continuing our strategy for 2022-25 and our future plans over the three year period are to meet the needs of the local population by: |
| Football |
| - To expand our football training pathway for young people |
| - To provide a range of inclusive programmes that provide opportunities for all |
| - To build and facility manage a clubhouse and 3G pitch at Old Barn Way, Adur and explore opportunities to manage others within Sussex |
| Education |
| - We will focus on encouraging pupils to engage with secondary school education |
| - We will target the reduction of exclusion rates in our partner schools |
| - We will deliver a range of suitable level adult accredited courses for the local community |
| Health |
| - Mental health wellbeing will be fundamental within all of our programmes for young people. |
| - We will include smoking cessation as key area for all education programmes |
| - We will address some of the needs of local inhabitants by offering a range of health-improvement programmes |
| Of course none of this could happen without working in close collaboration with local organisations, particularly, the primary and secondary schools, the local authorities, the Sussex FA and of a whole range of sponsors and funders. |
| Finally, this is an ideal opportunity to thank our valued trustees who have helped us throughout the year |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The Russell Martin Foundation is a charitable company limited by guarantee and is registered in England and Wales. It was incorporated on 10th November 2016 (company number 10473815) and registered as a charity with the Charity Commission on 4th August 2017 (charity number 1174134). It is governed by its Memorandum and Articles of Association, which describes the objects and powers of the charity. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Recruitment and appointment of new trustees |
| Trustees are recruited on the basis of their existing relevant knowledge to ensure a good range of skills are covered by the board of trustees as a whole. Information relating to The Russell Martin Foundation is provided ahead of any appointment and training, including safeguarding training is provided to trustees. |
| The Board oversees the charity and the day-to-day management is delegated to Dr Alan Sanders (CEO) and the senior management team. |
| Remuneration of key management is set in conjunction with the trustees. |
| None of the trustees has any beneficial interest in the charity. |
| The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date that the financial statements were approved were as follows: |
| R K A Martin |
| N Young |
| A H Batchelor |
| K Watson |
| R Bradford |
| K Mercer |
| J Burt |
| J Martin (appointed 28.10.24) |
| Risk management |
| The trustees are responsible for overseeing the risks faced by The Russell Martin Foundation. Risks are identified and assessed throughout the year. The trustees are satisfied that any major risks have been adequately mitigated where necessary and have undertaken an overall risk assessment. |
| STATEMENT OF TRUSTEES' RESPONSIBILITIES |
| The trustees (who are also the directors of The Russell Martin Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
| Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
| - | select suitable accounting policies and then apply them consistently; |
| - | observe the methods and principles in the Charity SORP; |
| - | make judgements and estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
| The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| In so far as the trustees are aware: |
| - | there is no relevant audit information of which the charitable company's auditors are unaware; and |
| - | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
| AUDITORS |
| The auditors, West & Berry Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| Approved by order of the board of trustees on |
| Report of the Independent Auditors to the Members of |
| The Russell Martin Foundation (Registered number: 10473815) |
| Opinion |
| We have audited the financial statements of The Russell Martin Foundation (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the charitable company's affairs as at 31 August 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; 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 Auditors' 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 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 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. |
| Other information |
| The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
| 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 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. |
| Report of the Independent Auditors to the Members of |
| The Russell Martin Foundation (Registered number: 10473815) |
| Opinions 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
| We have nothing to report in respect of the following matters where the 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
| Responsibilities of trustees |
| As explained more fully in the Statement of Trustees' Responsibilities, 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. |
| Report of the Independent Auditors to the Members of |
| The Russell Martin Foundation (Registered number: 10473815) |
| Our 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 a Report of the Independent Auditors 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. |
| The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
| - We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Charities SORP (FRS 102), Companies Act 2006, and safeguarding legislation including Safeguarding Vulnerable Groups Act 2006 (SVGA). |
| - We obtained an understanding of how the charitable company is complying with the legal and regulatory frameworks by making inquiries to management. |
| - We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur. |
| Audit procedures performed by the engagement team included: |
| - identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud; |
| - understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; |
| - made enquiries with management, including consideration of known or suspected instances of fraud or non-compliance; |
| - assessing the extent of compliance with the relevant laws and regulations. |
| - challenging assumptions and judgments made by management in its significant accounting estimates; |
| - identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; |
| - performed analytical procedures to identify any unusual or unexpected relationships; and |
| - investigated the rationale behind significant or unusual transactions. |
| Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise non-compliance. |
| 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 Report of the Independent Auditors. |
| Report of the Independent Auditors to the Members of |
| The Russell Martin Foundation (Registered number: 10473815) |
| 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 auditors' 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Nile House |
| Nile Street |
| Brighton |
| East Sussex |
| BN1 1HW |
| The Russell Martin Foundation |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 3 |
| Charitable activities | 4 |
| Investment income | 5 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Raising donations and legacies | 6 | 3,076 | - | 3,076 | 4,900 |
| Charitable activities | 7 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
| Transfers between funds | 18 | 51,774 | (51,774 | ) | - | - |
| Net movement in funds | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | ( |
) | ( |
) | 46,279 |
| CONTINUING OPERATIONS |
| The statement of financial activities includes all gains and losses recognised in the year. |
| All income and expenditure derive from continuing activities. |
| The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. |
| The Russell Martin Foundation (Registered number: 10473815) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 14 |
| CURRENT ASSETS |
| Debtors | 15 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 16 | ( |
) | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| NET ASSETS | ( |
) | ( |
) |
| FUNDS | 18 |
| Unrestricted funds | 19,653 |
| Restricted funds | ( |
) | 26,626 |
| TOTAL FUNDS | ( |
) | 46,279 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| The Russell Martin Foundation |
| Cash Flow Statement |
| for the Year Ended 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | (58,186 | ) | (25,438 | ) |
| Net cash used in operating activities | (58,186 | ) | (25,438 | ) |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (5,491 | ) | (3,192 | ) |
| Interest received | 1,248 | 661 |
| Net cash used in investing activities | (4,243 | ) | (2,531 | ) |
| Change in cash and cash equivalents in the reporting period |
(62,429 |
) |
(27,969 |
) |
| Cash and cash equivalents at the beginning of the reporting period |
75,617 |
103,586 |
| Cash and cash equivalents at the end of the reporting period |
13,188 |
75,617 |
| The Russell Martin Foundation |
| Notes to the Cash Flow Statement |
| for the Year Ended 31 August 2024 |
| 1. | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Net expenditure for the reporting period (as per the Statement of Financial Activities) |
(56,712 |
) |
(32,481 |
) |
| Adjustments for: |
| Depreciation charges | 6,502 | 6,658 |
| Loss on disposal of fixed assets | 10 | 390 |
| Interest received | (1,248 | ) | (661 | ) |
| Increase/(decrease) in wages creditor | - | (1,892 | ) |
| Increase/(decrease) in pension creditor | 536 | (267 | ) |
| Increase in debtors | (22,120 | ) | (21,684 | ) |
| Increase in creditors | 14,846 | 24,499 |
| Net cash used in operations | (58,186 | ) | (25,438 | ) |
| 2. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.9.23 | Cash flow | At 31.8.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 75,617 | (62,429 | ) | 13,188 |
| 75,617 | (62,429 | ) | 13,188 |
| Total | 75,617 | (62,429 | ) | 13,188 |
| The Russell Martin Foundation |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | CHARITY INFORMATION |
| The Russell Martin Foundation is a private charitable company limited by guarantee, incorporated in England and Wales. The registered office is the same as the principal address of the charity, Bank House, Southwick Square, West Sussex BN42 4FN. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £ |
| Going Concern |
| At the balance sheet date the charity showed negative funds. The Trustees are actively managing reserves and cashflow by the monitoring of incoming and outgoing resources and with regular management accounts. The management accounts as at March 2025 show a surplus for the period and a positive reserves balance. |
| At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the application of the charity'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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Expenditure |
| 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs include central functions and have been allocated to activity cost categories on the basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. |
| Costs of generating funds relates to expenditure on raising donations. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
| useful life. |
| Plant and machinery - 25% on reducing balance |
| Computer equipment - 33% on cost |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The charitable company operates a defined contribution pension scheme. Contributions payable to the |
| charitable company's pension scheme are charged to the Statement of Financial Activities in the period to |
| which they relate |
| Financial instruments |
| The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or release the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 3. | DONATIONS AND LEGACIES |
| 31.8.24 |
General |
ETP |
Old Barn Way |
Total |
| £ | £ | £ | £ |
| Grants | 51,670 | 664,089 | - | 715,759 |
| Sponsorship | - | 10,000 | 18,000 | 28,000 |
| Donations | 13,299 | 200 | - | 13,499 |
| 64,969 | 674,289 | 18,000 | 757,258 |
| 31.8.23 |
General |
ETP |
Old Barn Way |
Total |
| £ | £ | £ | £ |
| Grants | 2,250 | 541,854 | 21,500 | 565,604 |
| Sponsorship | 17,058 | 9,167 | - | 26,225 |
| Donations | 35,728 | - | - | 35,728 |
| 55,036 | 551,021 | 21,500 | 627,557 |
| 4. | CHARITABLE ACTIVITIES |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Coaching and service delivery | 688,820 | 619,711 |
| Advertising income | 1,500 | 750 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 5. | INVESTMENT INCOME |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Deposit account interest |
| 6. | RAISING DONATIONS AND LEGACIES |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Costs of raising funds | 3,076 | 4,900 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | CHARITABLE ACTIVITIES COSTS |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Charitable Activities (see Detailed SoFA) | 1,258,901 | 1,114.077 |
| Share of Support costs (see note 8) | 187,180 | 141,703 |
| Share of Governance costs (see note 8) | 59,457 | 25,382 |
| 1,505,538 | 1,281,162 |
| Analysis by Fund: |
| Unrestricted funds | 791,616 | 715,643 |
| Restricted funds | 713,922 | 565,519 |
| 1,505,538 | 1,281,162 |
| 31.8.24 |
| £ | £ | £ | £ |
Analysis by Charitable Activity |
ETP |
Old Barn Way |
Coaching |
Total |
| Charitable activities | 527,969 | 39,766 | 691,166 | 1,258,901 |
| Support costs | 144,942 | 1,245 | 40,993 | 187,180 |
| Governance costs | - | - | 59,457 | 59,457 |
| 672,911 | 41,011 | 791,616 | 1,505,538 |
| 31.8.23 |
| £ | £ | £ | £ |
Analysis by Charitable Activity |
ETP |
Old Barn Way |
Coaching |
Total |
| Charitable activities | 392,120 | 67,442 | 654,515 | 1,114,077 |
| Support costs | 103,917 | 2,040 | 35,746 | 141,703 |
| Governance costs | - | - | 25,382 | 25,382 |
| 496,037 | 69,482 | 715,643 | 1,281,162 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 8. | SUPPORT COSTS |
| Governance |
| General | costs | Totals |
| £ | £ | £ |
| Charitable activities | 187,180 | 59,457 | 246,637 |
| Support costs, included in the above, are as follows: |
| General |
| 31.8.24 | 31.8.23 |
| Charitable | Total |
| activities | activities |
| £ | £ |
| Office rent and rates | 6,000 | 6,585 |
| Repairs and renewals | 17,808 | 24,045 |
| Insurance | 16,087 | 12,156 |
| Light and heat | 11,207 | 4,361 |
| Telephone | 8,168 | 6,509 |
| Postage and stationery | 2,413 | 1,581 |
| Advertising, publicity & media | 35,169 | 26,513 |
| Staff training | 3,825 | 4,446 |
| Computer costs | 12,274 | 8,059 |
| Motor expenses | 11,392 | 12,959 |
| Vehicle leasing | 29,221 | 17,388 |
| Travel and subsistence | 4,327 | 846 |
| Subscriptions | 87 | 1,535 |
| Cleaning | 1,566 | 1,722 |
| Sundry expenses | 18,091 | 5,576 |
| Entertaining | 3,043 | 764 |
| Depreciation | 6,502 | 6,658 |
| 187,180 | 141,703 |
| Governance costs |
| 31.8.24 | 31.8.23 |
| Charitable | Total |
| activities | activities |
| £ | £ |
| Auditors' remuneration | 9,600 | 9,600 |
| Bank & processing fees | 25,656 | 159 |
| Accountancy | 20,526 | 12,348 |
| Bookkeeping | 3,675 | 3,275 |
| 59,457 | 25,382 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 9. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Depreciation - owned assets |
| Other operating leases | 6,000 | 6,585 |
| Deficit on disposal of fixed assets |
| 10. | AUDITORS' REMUNERATION |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Fees payable to the charity's auditors for the audit of the charity's financial statements |
9,600 |
9,600 |
| 11. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| 12. | STAFF COSTS |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| 756,098 | 660,097 |
| The average monthly number of employees during the year was as follows: |
| 31.8.24 | 31.8.23 |
| Coaching | 9 | 6 |
| Teaching | 12 | 12 |
| Management | 3 | 3 |
| Admin and Support | 2 | 2 |
| Key management | 1 | 1 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 12. | STAFF COSTS - continued |
| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
| 31.8.24 | 31.8.23 |
| £70,001 - £80,000 |
| Key management total employee benefits amounted to £72,707 (2023: £72,831). Contributions totalling £1,321 (2023: £1,321) were paid to defined pension contribution schemes on behalf of employees whose emoluments exceeded £60,000. |
| 13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Raising donations and legacies | 4,900 | - | 4,900 |
| 4,900 | - |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 59,135 | 19,625 |
| TOTAL FUNDS CARRIED FORWARD |
19,652 |
26,627 |
46,279 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 14. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade creditors |
| Aged Debtor credit balances | 980 | 2,428 |
| Social security and other taxes |
| Pension control | 2,875 | 2,338 |
| Accruals and deferred income |
| Accrued expenses |
| Deferred income movement |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Deferred income is included within current liabilities | 18,470 | 9,500 |
| Movements in year |
| Deferred income at 1st September 2023 | 9,500 | 10,000 |
| Released from previous periods | (9,500 | ) | (10,000 | ) |
| Resources deferred in the year | 18,470 | 9,500 |
| 18,470 | 9,500 |
| 17. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall as follows: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Within one year | 28,650 | 19,900 |
| Between two and five years | 46,319 | 20,719 |
| 74,969 | 40,619 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 18. | MOVEMENT IN FUNDS |
| Restricted funds | As at | Income | Expenditure | As at |
| 1.9.23 | in year | in year | Transfers | 31.8.24 |
| Old Barn Way Project |
| Adur District Council | (31,769 | ) | - | (23,011 | ) | - | (54,780 | ) |
| MCR Media | - | 1,500 | (1,500 | ) | - | - |
| Rivervale | - | 1,500 | (1,500 | ) | - | - |
| SO Legal | - | 15,000 | (15,000 | ) | - | - |
| (31,769 | ) | 18,000 | (41,011 | ) | (54,780 | ) |
| Extra Time Project |
| Brighton & Hove City Council | - | 17,713 | (17,713 | ) | - | - |
| Chalk Cliff Trust | 5,000 | - | (5,000 | ) | - | - |
| Charlton Athletic FC | - | 12,195 | (12,195 | ) | - | - |
| Community Cooking Club | - | 250 | (250 | ) | - | - |
| Crawley Borough Council | - | 6,650 | (6,650 | ) | - | - |
| Donatello | - | 9,999 | (9,999 | ) | - | - |
| Ernest Kleinwort | - | 8,000 | - | - | 8,000 |
| Fonthill Foundation | 13,400 | 26,800 | (40,200 | ) | - | - |
| G Rogers | - | 200 | (200 | ) | - | - |
| Gatwick Airport Community Support | - | 1,000 | (1,000 | ) | - | - |
| National Foundation for Youth Music | - | 2,982 | (2,982 | ) | - | - |
| Peer Power | - | 1,200 | (1,200 | ) | - | - |
| PFA | - | 15,000 | (15,000 | ) | - | - |
| Sussex Community Foundation | - | 1,800 | (1,800 | ) | - | - |
| The Starr Trust | - | 2.429 | (2,429 | ) | - | - |
| University of Sussex | - | 2,400 | (2,400 | ) | - | - |
| West Sussex County Council | - | 12,473 | (12,473 | ) | - | - |
| VYD CIC | - | 375 | (375 | ) | - | - |
| ETP project income from schools | 39,996 | 552,823 | (541,045 | ) | (51,774 | ) | - |
| 58,396 | 674,289 | (672,911 | ) | (51,774 | ) | 8,000 |
| 26,626 | 692,289 | (713,922 | ) | (51,774 | ) | (46,780 | ) |
| Unrestricted funds | 19,653 | 756,537 | (791,616 | ) | 51,774 | 36,348 |
| TOTAL FUNDS | 46,279 | 1,448,826 | (1,505,538 | ) | - | (10,433 | ) |
| The transfer of £51,774 between restricted and unrestricted funds represents a correction of the | allocation of staff and consultants' costs to the ETP project income from schools |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| Restricted funds (contd) |
| RMF has been awarded £2 million funding to develop Old Barn Way to build a new artificial pitch | and clubhouse. It is hoped that the facility will be available for public use as well as being a home for | Russell Martin Academy activities, and when not being used for football related activities, the | clubhouse will be used for educational and health programmes |
| At 31st August 2024, Old Barn Way restricted fund has a deficit balance of £54,780. This balance | has built up over the last three years due to the charity having to cover various project related costs | such as legal fees ahead of confirmed funds being released. At March 2025, the charity has now | received the lease agreement and, once signed, this will prompt the release of funds from the Football | Foundation and Adur District Council. |
| It is expected that the deficit balance will have reversed by the end of the August 2025 year. |
| Restricted funds | As at | Income | Expenditure | As at |
| 1.9.22 | in year | in year | Transfers | 31.8.23 |
| Old Barn Way Project |
| Adur District Council | 16,213 | 21,500 | (69,482 | ) | - | (31,769 | ) |
| 16,213 | 21,500 | (69,482 | ) | - | (31,769 | ) |
| Extra Time Project |
| East Sussex Generation | - | 15,409 | (15,409 | ) | - | - |
| Brighton & Hove City Council | - | 34,653 | (34,653 | ) | - | - |
| Chalk Cliff Trust | - | 5,000 | - | - | 5,000 |
| Donatello | - | 9,167 | (9,167 | ) | - | - |
| Ernest Kiline | - | 5,000 | (5,000 | ) | - | - |
| Fonthill Foundation | - | 52,900 | (39,500 | ) | - | 13,400 |
| Groundwork UK | - | 1,000 | (1,000 | ) | - | - |
| Henry Smith Foundation | - | 10,000 | (10,000 | ) | - | - |
| National Foundation for Youth Musicl | - | 26,842 | (26,842 | ) | - | - |
| Sussex Community Foundation | - | 9,976 | (9,976 | ) | - | - |
| Twinkl Twinkl | - | 100 | (100 | ) | - | - |
| ETP project income from schools | 3,412 | 380,974 | (344,390 | ) | - | 39,996 |
| 3,412 | 551,021 | (496,037 | ) | - | 58,396 |
| 19,625 | 572,521 | (565,519 | ) | - | 26.627 |
| Unrestricted funds | 59,135 | 676,160 | (715,643 | ) | - | 19,652 |
| TOTAL FUNDS | 78,760 | 1,248,681 | (1,281,162 | ) | - | 46,279 |
| The Russell Martin Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 19. | EMPLOYEE BENEFIT OBLIGATIONS |
| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. |
| The charge to the profit and loss in respect of defined contribution schemes was £14,503 (2023: £12,445). |
| 20. | RELATED PARTY DISCLOSURES |
| Remuneration of key management personnel |
| The remuneration of key management personnel is as follows: |
| Aggregate compensation £74,027 (2023: £74,156). |
| The following related party transactions occurred during the year: |
| Payments of £7,300 (2023: £1,110) were made to a family member of the CEO for working on the Extra Time Provision. The transactions were all conducted at arms length. |