| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| THE INTERNATIONAL GOLF CHARITY |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| THE INTERNATIONAL GOLF CHARITY |
| THE INTERNATIONAL GOLF CHARITY |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2024 |
| Page |
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 | to | 10 |
| THE INTERNATIONAL GOLF CHARITY (REGISTERED NUMBER: 04134006) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 October 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 October 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 following 'purposes of the charity' are set out in its governing document as summarised below. |
| The objectives of the charity are: |
| a. The promotion of the welfare, and provision of opportunity, to young people in need of assistance, in order to improve their conditions of life, mental or physical health, activity and development, by involvement in extramural studies and activities; |
| b. The provision of such opportunities for the social rehabilitation of young offenders in need of assistance; |
| c. The support and promotion of charitable organisations anywhere around the world (whether or not incorporated) established for the benefit of children and young people, as the trustees in their absolute discretion, see fit; |
| d. The support of other charities and objectives anywhere around the world, as the trustees in their absolute discretion, see fit. |
| Main activities undertaken |
| The Charity's policy is to achieve its objectives, through the promotion of fundraising golfing events worldwide. In these events amateur golfers take part in local heats of the Duke of Edinburgh Cup, in which winners in each regional tournament receive trophies provided by the International Golf Charity (IGC). IGC seeks local partners and sponsors for regional events who must organise and cover the costs of the event, including the cost of winners to attend the World Finals (see below) . Given that the organisation and accounting for each regional event is carried out by the local partner, and not through IGC books, the attached accounts do not include the detailed results of regional events (in accordance with the Charities SORP) |
| The surplus from each event is used to fund donations to local charities, approved by and in accordance with the aims and objects of Duke of Edinburgh Cup/IGC. |
| Winners and runners-up of each regional event qualify to compete in the annual World Finals of the Duke of Edinburgh Cup, held in the UK and organised by IGC. As described above the local partners make donations to IGC to cover the costs of the World Finals, and fund further charitable donations from surpluses arising. Necessary expenses for attendees are provided by the Charity within the rules of Amateur Golf as laid down by The Royal and Ancient and the United States Golf Association. |
| The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. |
| Grantmaking |
| The Charity gives the Trustees absolute discretion over the distribution of surplus funds. It is the policy of the trustees to distribute all available surplus funds, subject to maintaining a small working capital reserve. |
| As all monies donated to the charity are to be redistributed in grants, the charity does not retain funds for investment. Any temporarily held funds are placed on deposit to achieve the best interest rate possible. |
| THE INTERNATIONAL GOLF CHARITY (REGISTERED NUMBER: 04134006) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 October 2024 |
| OBJECTIVES AND ACTIVITIES |
| The main achievements and performance of the charity during the year |
| The 2024 World Finals were contested by competitors drawn from 15 events. Global events leading to the World Finals, organised by local charities, under the auspices of the Duke of Edinburgh Cup, raised a total of £681,000. Monies raised since the Charity’s inception in 2001 now stands at over £6 million. The background and ethos of the Duke of Edinburgh Cup and the International Golf Charity, continue to be that monies raised are distributed to children and youth Charities around the work following careful scrutiny and pre-approval by Trustees. |
| Charities supported in 2024 include The Duke of Edinburgh International Award, the Barbados Community Fund, The City of London Sheriff and Recorder’s Fund, The Disabled Sports Hub and SUPability Gibraltar. |
| Trustees remain committed to looking to grow the Charity as best they can. These efforts are bearing fruit and as a result, 2025 is looking very good with more new events confirmed. |
| HRH The Duke of Edinburgh kindly attended the prize giving Gala Dinner at Windsor Castle. |
| The Trustees are grateful to HM The King, for allowing the charity to use the Royal Household Golf Club course as part of the World Final event. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| As a result of the charity's activities during 2024 the International Golf Charity (IGC) in cooperation with local charities |
| has generated over £354,000 for charitable organisations supporting young people around the world. |
| In accordance with the SORP, the amounts raised by regional events, donated directly to local charities and not remitted to IGC, are not reported in these accounts. |
| FINANCIAL REVIEW |
| Financial position |
| The financial position of the UK charity alone, as at 31st October 2024, together with comparatives, are fully detailed in the attached accounts. |
| In summary, the charity received donations amounting to £ 337,435 in the year and made payments to charitable causes amounting to £100,475, leaving a deficit for the period of £8,351. The Charity's reserves at the year end were £33,947 (2023- £42,298). |
| Reserves policy |
| The Trustees gave due consideration to the reduction in reserves, incurred during the year and were confident that the reserves position should not reduce further in 2025 and beyond. |
| In conclusion the Trustees are satisfied that the assets of the Charity are sufficient to meet its obligations for both Unrestricted and Restricted Funds. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of new trustees |
| The methods used to recruit and appoint new charity trustees. |
| The chairman asks trustees always to be on the look-out for new trustees. Those proposed are vetted by a working group of the chairman and one or two other trustees, before a recommendation is made the full board. Most candidates are well known in the golf, charity, or business world. Trustees serve for a 5 year term, renewable at the discretion of the trustees for one further 5 year term. The policies and procedures are explained to the new trustees by the chairman. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| THE INTERNATIONAL GOLF CHARITY (REGISTERED NUMBER: 04134006) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 October 2024 |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Adriaan van den Broek |
| Kingfisher Business Advisors Ltd |
| Chartered Accountants |
| 2 High St |
| Chobham |
| Woking |
| Surrey |
| GU24 8AA |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| THE INTERNATIONAL GOLF CHARITY |
| Independent examiner's report to the trustees of The International Golf Charity ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
| I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
| Adriaan van den Broek |
| Kingfisher Business Advisors Ltd |
| Chartered Accountants |
| 2 High St |
| Chobham |
| Woking |
| Surrey |
| GU24 8AA |
| 23 July 2025 |
| THE INTERNATIONAL GOLF CHARITY |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the Year Ended 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds | 4 |
| Charitable activities |
| IN2 Adventures Ltd | - | - | - | 1,438 |
| Possabilities | - | - | - | 10,000 |
| Friends of Calpe House | - | - | - | 5,000 |
| Terence Regan Charity | 1,000 | - | 1,000 | 1,000 |
| KD Mowbray Golf Foundation | 1,500 | - | 1,500 | - |
| Duke of Edinburgh - Turkey | 14,968 | - | 14,968 | - |
| Sherrif and Recorders Funds | 14,234 | - | 14,234 | - |
| ETAC Ltd Larna Sharna | - | 3,412 | 3,412 | - |
| Rotary Club of Gibraltar | - | 6,000 | 6,000 | - |
| Gibraltar Sea Scouts | - | 4,000 | 4,000 | - |
| The Nautilus Project | - | 12,000 | 12,000 | - |
| Supability Ltd | - | 11,475 | 11,475 | - |
| J Rix SMS | - | 1,184 | 1,184 | - |
| GBC Open Day | - | 100 | 100 | - |
| Troon Charity | - | 292 | 292 | - |
| Disabled Sports Hub | 19,311 | - | 19,311 | - |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| Transfers between funds | 10 | (29,946 | ) | 29,946 | - | - |
| Net movement in funds | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 42,298 |
| THE INTERNATIONAL GOLF CHARITY (REGISTERED NUMBER: 04134006) |
| BALANCE SHEET |
| 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| ACCRUALS AND DEFERRED INCOME | 9 | ( |
) | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) |
| FUNDS | 10 |
| Unrestricted funds | 42,298 |
| Restricted funds | - |
| TOTAL FUNDS | 42,298 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| 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 INTERNATIONAL GOLF CHARITY |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2024 |
| 1. | 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, with the exception of investments which are included at market value. |
| 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. |
| 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
| 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. |
| 2. | OTHER TRADING ACTIVITIES |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Profit/(Loss) on Foreign Exch | - | 263 |
| 3. | INVESTMENT INCOME |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Interest receivable - trading | 763 | 115 |
| THE INTERNATIONAL GOLF CHARITY |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2024 |
| 4. | RAISING FUNDS |
| Raising donations and legacies |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Fund raising costs | 202,642 | 151,810 |
| Support costs |
| 202,642 | 157,810 |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| MARKET VALUE |
| At 1 November 2023 |
| Disposals | ( |
) |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 | - |
| At 31 October 2023 | 1 |
| There were no investment assets outside the UK. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| THE INTERNATIONAL GOLF CHARITY |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 9. | ACCRUALS AND DEFERRED INCOME |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Accruals and deferred income | 210,810 | 216,910 |
| 10. | MOVEMENT IN FUNDS |
| Net | Transfers |
| At | movement | between | At |
| 1.11.23 | in funds | funds | 31.10.24 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 42,298 | (6,379 | ) | (29,946 | ) | 5,973 |
| Restricted funds |
| Restricted fund - Gibraltar | - | (1,972 | ) | 29,946 | 27,974 |
| TOTAL FUNDS | (8,351 | ) | 33,947 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 281,265 | (287,644 | ) | (6,379 | ) |
| Restricted funds |
| Restricted fund - Gibraltar | 56,170 | (58,142 | ) | (1,972 | ) |
| TOTAL FUNDS | ( |
) | (8,351 | ) |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 20,623 | 21,675 | 42,298 |
| TOTAL FUNDS | 20,623 | 21,675 | 42,298 |
| THE INTERNATIONAL GOLF CHARITY |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2024 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 368,522 | (346,847 | ) | 21,675 |
| TOTAL FUNDS | 368,522 | (346,847 | ) | 21,675 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| At | movement | between | At |
| 1.11.22 | in funds | funds | 31.10.24 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 20,623 | 15,296 | (29,946 | ) | 5,973 |
| Restricted funds |
| Restricted fund - Gibraltar | - | (1,972 | ) | 29,946 | 27,974 |
| TOTAL FUNDS | 20,623 | 13,324 | - | 33,947 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 649,787 | (634,491 | ) | 15,296 |
| Restricted funds |
| Restricted fund - Gibraltar | 56,170 | (58,142 | ) | (1,972 | ) |
| TOTAL FUNDS | 705,957 | (692,633 | ) | 13,324 |
| 11. | RELATED PARTY DISCLOSURES |