Full and final accounts, conforming to statutory requirements, will be lodged with Companies House after approval at an Annual General Meeting expected to take place in mid-June 2025.
This disclosure exercise continues our commitment to transparency about the money our members raise and how it is spent. A similar exercise has been done in previous years ahead of the 2023 and 2024 AGMs.
To help members understand the detail behind the accounts, we have prepared a supporting note, explaining the numbers and how they differ from last year’s financial results.
Short summary
The Jags Foundation has seen further sustained growth in its income compared with the previous reporting year (up 20%). This was the first full year in which we benefited from a rise in membership levels, mostly driven by the “call to arms” in the summer of 2023. Membership has since further increased, which should bode well for the 2024-25 income figures.
TJF’s income base mainly consists of members’ monthly pledges (slightly over £15kpm). This includes membership subscriptions and supplementary donations, paid monthly. This core income is used to meet three key pledges to the Club, Youth Academy and Women’s team.
The core income is then supplemented by regular fundraising through events, merchandise, raffles and auctions. This enables the Foundation to meet its administrative costs, to host events for fans, and to make contributions to various community causes. We were particularly proud in this reporting period to support the Beatson Cancer Charity from the proceeds of the Gerry Collins Pin.
The Foundation’s overall running costs fell significantly in 2023-24 compared with the previous year, despite some recurring expenditure rising with inflation and organisation growth. The overall reduction in costs was driven mainly by reduced demand for professional legal services.
Any questions?
If you have any questions or comments on the draft accounts, please get in touch with our treasurer Derek McLeish.
We would like to thank Morris and Young for their assistance in preparing the draft accounts, as well as Sandy Fyfe and Andrew Holloway for their help with the handover of financial reporting in the 2023-24 accounting period.