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2021-03-31-accounts

Company registration number: 03039017 Charity registration numbers: 1046047 & SC043569

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

Audited

EXECUTIVE COMMITTEE'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

TABLE OF CONTENTS

Page No.
Charity Reference and Administrative Details 1
Executive Committees' Annual Report:
Executive summary 2
Our Aim and Objectives 3
A message from our CEO 3
Programmes and Impact Report:
How change happens – our model for change 9
Changing the story – identifying the social issues we tackle through sport 10
Impact highlights: April 2020 - March 2021 10
Programme by programme impact: April 2020 - March 2021 11
The Impact of the COVID-19 pandemic 14
Changing lives in our local community 16
Changing lives across the UK 16
Changing lives around the world 17
Everyone is talking about ‘Change’: Awards and media 17
Champions for change – thank you for supporting us 19
Structure, governance and management 20
Financial review 23
Our plans for the future 25
Public Statement of Benefit 27
Statement of Executive Committee’s Responsibilities 28
Independent Auditors' Report on the Financial Statements 29
Statement of Financial Activities 32
Balance Sheet 33
Statement of Cash Flows 34
Notes to the Financial Statements 35-56

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

REFEENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS EXECUTIVE COMMITTEE AND ADVISERS

Executive Committee
Alex Clode, Chair
Victoria Lowe, Vice-Chair
Steve Wootten, Treasurer
Rachel Billsberry-Grass
Asha Haji
Dan Drury (Appointed 17 th June 2020)
Jaya Handa
Helen Webster
Angela Murphy (Resigned 14th May 2020)
Harry Lewis (Resigned 14 May 2020)
Registered name The Change Foundation
Company registered no. 03039017
Charity registered nos. 1046047 and SC043569
Registered office: Cricket for Change Cricket Ground, Plough Lane
Wallington, Surrey, SM6 8JQ
Company Secretary Henry Wereko
Chief Executive Officer Andy Sellins
Independent auditors MHA MacIntyre Hudson
Sixth Floor, 2 London Wall Place
London
EC2Y 5AU
Bankers HSBC Bank plc
The Helicon, 1 South Place,
London
EC2M 2U

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

1.0 Executive Summary

The Executive Committee present their annual report together with the audited financial statements of the Charity for the period 1 April 2020 to 31 March 2021. The Executive Committee confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Since the Charity qualifies as a ‘Small' company under section 383 of The Companies Act 2006, the strategic report required of medium and large companies (Strategic Report and Director's Report - Regulations 2013) is not required.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

2.0 Our Aims and Objectives

The Change Foundation aims to change the lives of marginalised young people using the power of sport and dance.

Our approach is to be daring, empowering, and agile and for our leadership to be recognised around the world by sharing our knowledge, experience and solutions.

2.1 Message from our CEO

Changing times

When the Covid-19 pandemic hit in March 2020, many youth charities closed down temporarily and others sadly went out of business. With so many normal activities curtailed and mental and physical health challenges heightened by lockdown and social distancing, it was clear that the vulnerable young people we help needed us more than ever.

The response from The Change Foundation team was remarkable. We adapted our trusted face-to-face operations to become a pioneering online delivery model in just five days. Our team of Coach Mentors expanded our programming to include Esports sessions, online workshops and one-to-one mentoring. TikTok challenges, team fitness sessions and a whole range of online competitions kept our young people engaged and motivated, whilst mock interviews, CV writing workshops and career development advisors ensured that young people on our employability programmes stayed on track to secure their first job.

Our online delivery became the new normal, with sessions taking place up to ten times a day, including at weekends, providing a solid routine and something to look forward to for our vulnerable young people. Our regular contact and support ensured they did not feel isolated or anxious and helped prevent them being tempted into harmful activities. Our online services added to a range of new online platforms linking young people together from across London and the UK, with new friendships being formed every day. Instead of being traumatised by this extended period of lockdown, we worked harder than ever to make sure our young people developed positive memories of things they achieved and can be proud of, during these unprecedented times.

We are particularly proud of maintaining the same annual success rate of 85% on our Street Elite programme, which supports young people on the edges of gangs and criminal activity into employment, education or training and of maintaining or exceeding previous attendance and graduation rates on over 80% of our other programmes.

In the first half of the year, we made use of the government furlough scheme for some of our staff and by January all except our Centre bar staff were back to full time working. To help cover a portion of our loss of income at our Centre we received a number of local authority grants and made use of a number of Covid emergency grants made available by funders who were worried about charities who they had supported for years, going under.

In addition, we also embraced the government’s new Kickstart programme and the brilliant young people who have joined us to launch their careers have already started to make their mark on the Charity. Once again, we have learnt that if you find a way to unleash young people’s ideas and energies, they will often amaze you.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

As our programmes have had to adapt to new circumstances, so have our finances. Like most charities, we re-assessed our budget for the 2020/21 financial year several times and are delighted to have eventually finished the year with a modest deficit of around £4,000. Planning for our 2021/22 budget began early and with income from our Centre still uncertain and only gradually emerging rules about when we could expect to start expecting income from our extensive list of events and challenges, we created a budget for the year ahead which we think is conservative and achievable.

An exciting part of our planned 2021/22 financial year activities are our 40 events and challenges being undertaken by our staff, Trustees and Ambassadors as part of our 40[th] Anniversary celebrations. These are likely to produce a one-off fundraising income for this year of between £100,000 and £200,000, which we intend to use to expand the scope of our internal Innovation Fund, which can be used by our staff, young people and our Young Ambassadors to pioneer new ideas, which will improve our impact and efficiency.

By the end of the year, we intend to have 40 ‘Ambassadors for Change’ in place and the current 31 are all involved in fundraising for the charity in a range of different ways. Our Ambassadors have transformed our fundraising capacity and their impact will continue to be felt for many years after our 40[th] Anniversary celebrations have finished. In addition, we have strengthened our Trusts and Foundation Fundraising Team and their efforts bore great fruit in the 2020/21 financial year, with funding from this source exceeding income from the previous year.

We will also work with our Ambassadors to continue to grow our network of employers who are open to welcoming our young people into their workforce and running employer workshops to prepare them to recruit and support young people from a range of diverse backgrounds. This will in turn help them to become more inclusive in their employment practices, whilst allowing them to access a new source of young talent.

Over the last twelve months, we have secured a host of new corporate partners, including Give as you Live, Principal Insurance, Adidas and Barclays and our consultancy work is in greater demand than ever, with five sports’ governing bodies among the organisations now using our expertise to develop the sport for social change element of their operations.

We are also proud to have celebrated the tenth anniversary of both our Refugee Cricket Project, which has provided support and a safe place to play for over seven hundred child refugees, and our Street Elite programme, which has helped over six hundred young people evolve from a life of gangs and criminal activity into employment, further education or training.

Our Trustees have adapted extremely well to a rapidly changing budget, new online safeguarding guidelines and Trustees’ meetings on Zoom. Similarly, our Young Ambassadors have had to adapt how they operate and their ideas and their drive to make their mark on the world have helped us to transform our impact strategy, our programme design and our approach to digital communications.

Our entire team has been exhilarated by having to adapt to these changing times and find exciting new ways to keep our young people engaged. I am enormously proud of their response and it has been a truly amazing time to be the head of an organisation buzzing with new people, new energy and so many new ideas.

One of these ideas is for us to undertake a piece of research looking into the mental health of our young people as we emerge out of lockdown and use our findings to make changes to the way we run our programmes and to see if we are missing anything in our approach. We hope this research will inform our programme design and our recruitment strategies for the foreseeable future.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

None of our success would have been possible without the support of all our funders, donors, delivery partners and supporters, so on behalf of our young people, our staff, our Trustees and our Ambassadors, an enormous thank you. Your support has never been more important.

Finally, I would like to celebrate one member of our team who has been instrumental in The Change Foundation becoming a truly world class operation and that person is Carol Driver. Having played a high standard of cricket when she was younger and possessing an instinctive understanding of the power of sport to change young people’s lives, Carol initially joined us as a Trustee in the early 90s, when much of our work was focused on providing pioneering cricket opportunities for women and girls, young people with a disability and young people from ethnic minority communities living on some of London’s most deprived housing estates. Carol is now a member of staff and her role includes the running of our Centre and her pioneering work developing our Walking Sports programme. The programme now involves over a hundred over 60s playing football, netball, cricket and table tennis each week, the latter having been recently launched to link together our Walking Sports players with some of our young people on a programme in which they support each other to learn new skills. Carol’s wisdom and constant reminder to us to always do things in the right way, rather than the quickest way, has been a key part of developing our reputation for cooperation, constant learning and I hope, a strong sense of trust and reliability across everything we do. As we evolve again using the lessons learnt through the pandemic into a highly influential and constantly pioneering organisation, I would like to thank Carol for her three-decade contribution to making us who we are today.

How it all started

Thirty-nine years ago, in 1981, I was playing in a midweek cricket evening league on a park pitch in Islington. Each week we would have to chuck off local kids using it so we could play. After a couple of weeks, I suggested if they came back the following evening, I would bring some spare kit and would do some coaching. If they were keen, I could perhaps organise some matches. It caught on and pretty soon we had the makings of a squad.

The Brixton Riots, a few weeks earlier, had led to fears of gangs of disgruntled youths roaming the streets of London and Islington Council gladly gave me free use of the ground, a bag of cricket equipment and even printed some posters for me which went up in bus stops and on lamp posts. Our first ‘housing estate team’ was born. Cricket gave those young people from Islington something to do all summer. They particularly relished the chance to travel all over London and beat teams with ‘proper’ grounds, ‘proper’ kit and who played in ‘proper’ leagues. Over the course of the following year, I also helped some of the players get a job, helped some stay in school and watch all of them make new friends and feel a great sense of achievement. Some are still friends today.

That summer, I met three other people who were also pushing for social change and greater inclusivity in the sport. Mike Barnett had a plan to get cricket into every London primary school, Jenny Wostrack wanted exactly equal opportunities for women and girls to play cricket as boys and men and former West Indian cricketer, Reg Scarlett, was creating a college which would support black and Asian players to become professional players. Mike, Jenny, Reg and I were part of a movement that was initially called the ‘London Community Cricket Association’, later to be called ‘Cricket 4 Change’ and eventually to be renamed, ‘The Change Foundation’, to reflect the growing range of sports we were now using to deliver a social impact.

Whenever I hear youth workers, teachers and parents talk about sport ‘keeping kids out of trouble’ I think back to that summer in 1981 and the vital work that our foundation does up and down the country today. Well-run sports programmes can do much more than keep kids out of trouble. Outcomes can range from

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

‘social inclusion’ to ‘community cohesion’, but above all they have the power to build self-confidence and transform young lives. These four stories illustrate this perfectly

DC is a young man who is from a very tough neighbourhood in south London. He moved to the UK from Angola when he was only ten and really struggled in lessons due to his limited English. Like many young people, he was desperately looking to ‘fit in’ and find acceptance during his early teenage years and this is what unfortunately led him to becoming involved with the wrong crowd and caught up in what could be called ‘gang activity’. Academically he struggled through school from start to finish but became very popular and developed a large friendship circle. It was upon leaving school that he felt completely lost and with very few qualifications and no work experience to speak of, he lacked direction and his confidence in his own ability started to drop rapidly. Reflecting on this time in his life, he said, “I felt lost, in a bit of a hole and didn’t know how to get myself out of it”.

Coming from a poor household, money was not easy to come by and the need for bringing in some form of income was becoming increasingly more desperate. At times he contemplated ‘doing a few things he shouldn’t’ just to get by and was often a whisper away from getting involved with the police. This all changed when one day he took a trip down to his local youth centre to see who was about and saw one of the charity’s Street Elite sessions going on in the sports hall. Watching on from the balcony above he was spotted by one of our Coach Mentors, who immediately went up to speak to him and told him about the programme and how it supports young people to find employment.

“At first it felt a bit too good to be true you know, I thought to myself yeah yeah this probably won’t go anywhere, just another project saying their gonna do this for you, gonna do that for you” During the first few weeks, DC often became frustrated during the sessions and would react badly to things that did not go his way. His time keeping was poor and he was nearly always late. However, as the weeks went on and by spending time with his Coach Mentor, he started to change. His time management improved dramatically as did the way he dealt with conflict. After identifying the career he wanted to get into, his Coach Mentor arranged a work placement taster day with one of our programme employer partners. This really fuelled his hunger for work and after successfully completing a two-week work placement, he was awarded a three-month contract. Putting in an incredible effort over those three months, he was then offered a full-time apprenticeship. In 2019 he completed his apprenticeship a year ahead of schedule and has rapidly progressed through the ranks at the company. He is now a supervisor and mentors young apprentices who are facing the same types of pressures he faced when he was younger and starting out in the world of work.

“Without Street Elite I really don’t know where I would of ended up. I was completely lost. A lot of people I grew up with are either dead or in prison due to getting mixed up in bad stuff. Street Elite has given me everything. I’m proud of the hard work I’ve done to get me where I am today, I’m proud that I am able to financially support my family and I’m proud of the man and the father that I’ve become. However, none of that would of happened without Street Elite. It changed my life and I’ll always be thankful”.

OP is a young man with a moderate learning disability and autism, who was part of our London Futures disability employability programme. At the start of the programme, it was clear that OP had a lot of potential but his lack of faith in his own ability was really holding him back from securing paid employment. He would often report that he had seen job advertisements that he liked but didn’t have the confidence to apply for them. After attending the programme consistently, OP began to grow in confidence and after sharing that he wanted to improve his fitness and overall mobility, he and his Coach Mentor met regularly during lockdown in a Covid safe way to take part in a structured exercise programme. This regular interaction also served as a great vehicle for conversation about his personal goals and aspirations and provided space for him to share the mental health challenges he was experiencing throughout lockdown. OP worked hard with

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

his Coach Mentor to identify what employability skills he wanted to work on and what job roles he was interested in and after a couple of months of preparation and with support from his Coach Mentor, OP applied for a position at a central London Hotel and was successful in securing the job. He is currently in a great place, feeling that he has purpose, growing in confidence all the time and he now feels he has become a contributing and important member of society. His sense of confidence and self-worth led to him volunteering at a local charity project that helps isolated and lonely people connect back into wider society. This is something he is incredibly passionate about and is currently seeking out additional volunteering roles. He continues to be involved with the London Futures programme and acts as a peer mentor to other young people within the group.

When we first met MK and recruited her onto the G-Storm programme, she told her Coach Mentor that her aspiration was to become a stripper and marry a drug dealer. She was known to social services for being an ‘at risk’ young person and would often get caught up with the police. She was trafficking drugs as she saw it as a quick way of making money and she would often get involved in very dangerous situations, especially through her brother and his gang affiliations. During her time on G-Storm, she started to change how she viewed herself and her aspirations started to head in a more positive direction. She started to focus more at school and there were some marked improvements in her attitude. She reached out to us once again a year down the line because she was struggling with college and her mental health was not in a great place. After meeting with one of our Coach Mentors we offered her a place on our Street Elite programme and she grabbed the opportunity with both hands. MK worked well with others on the programme and as the weeks went on, she started to grow in confidence and believe in her own ability. Then the Covid pandemic hit. During the first lockdown MK really struggled mentally and she was finding it increasingly difficult to stay motivated and complete college. However, her Coach Mentors worked with her to develop a daily routine and would check in on her each day and set her goals and challenges. MK responded well to this and used this time to work on her personal development as well as increase her knowledge in her career interest of choice, which is quantity surveying. After completing a two-week work placement with one of our employer partners, MK was invited to apply for an apprenticeship opportunity with them. She worked hard with her Coach Mentor on her interview technique and it paid off as she was successful with the interview and was awarded an apprenticeship. MK is thrilled with where she is currently at in life. From the teenager who was caught up in drug dealing to a young professional making her way in the world, MK has come a really long way and we are incredibly proud of her achievements. She now has a career in a growth sector and has a very bright looking future ahead of her.

MI is a young man who lives independently in a hostel. MI got involved in gang activity from a young age, which ultimately resulted in him being arrested and spending time in prison. Upon his release, a former Street Elite participant put MI in contact with us and we met with him to discuss the programme. Keen to start afresh and not make the same mistakes again, MI was really motivated from the outset. He knew three people from the previous year’s cohort and inspired by their success, he wanted to follow in their footsteps and start a career in the construction industry. MI has shown incredible dedication and resilience whilst studying for his CSCS (Construction Skills Certification Scheme) test, which he initially really struggled with. The online group revision sessions really helped MI realise that it was not just him who was struggling and that as a group everyone was there to support him. MI successfully passed his CSCS test and completed a two-week work placement with a plumbing company and after impressing during his placement, he was subsequently awarded an apprenticeship in plumbing with the company.

The success and social value of what we do as an organisation starts and ends with the young people we work with. Ultimately, they change their own lives. Our role is to empower, create opportunities, coach and support. We start by understanding their circumstances, their lives and their communities, through our Coach Mentors and alumni, who have experienced the same challenges. We work from the ground up, often encountering a broad spectrum of social problems, and applying four decades of ‘learning by doing’. Our work is only made possible by our community partner networks, who help us identify and recruit our

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

young people, and a growing group of corporate partners who help our young people take their first step into a career and employment.

Andy Sellins, CEO

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

2.2 Programmes and Impact Report

2.2.1 How change happens – our model for change

Our staff: Our staff effect change in others. They are our most powerful resource. We do not expect our staff to fit a certain template, nor develop at the same pace as their colleagues. We do not expect them to have the same interests as each other, nor the same aspirations and nor do we expect them to succeed in everything they try. Indeed, we want them to try new things that end up not working; ‘fail quickly’, learn and move on. We do expect them to be kind to each other, to work hard and to take credit for all their successes, large and small. We believe that if our staff are treated in this way, they will treat our young people in a similar way so their talents emerge, and their aspirations will flourish.

Our approach: Our approach has seven distinct stages, honed and simplified over the course of the last forty years:

  1. Identify the social need – We take social action by responding to a need identified by our young people.

  2. Pilot new ideas – We design sport for social change programmes by testing a variety of sports and adapting their rules, trialling impact measurement tools, understanding the resources required and questioning assumptions. We do this by asking for and acting on young people’s ideas and testing them by delivering six to twelve-month pilot programmes.

  3. Recruit and retain – We invest time and resources in developing recruitment plans to ensure we work with the most marginalised young people in our communities. We work in partnership with local authorities, community groups, other charities and ‘on the street’ recruitment. The Change Foundation spends time matching the right programme for the right young person and learning about root causes that affect attendance.

  4. Deliver programmes that are flexible – We deliver sport for social change programmes that are flexible, adaptable and inclusive, through which young people can ‘learn as they go’. We take this approach because social change programmes are complex and unpredictable – they require supportive environments, reliable Coach Mentors, who lead by example and new and innovative coaching methods that weave in learning.

  5. Provide opportunities for young people to succeed – We recognise that change is personal, and that each young person drives their own change at their own pace dependent on their relationships, motivations, behaviours, values and aspirations. We provide a range of opportunities for young people as they graduate from our programmes, including high quality work experience, one to one career development support, involvement in our alumni programme and paid employment in their chosen sector.

  6. ‘Innovate and share’ what we learn – We systematically review impact through reflective practice, openly discussing successes and failures with all stakeholders and amending methods based on learning. We then share our learning with the international sport for social change sector helping them to innovate according to their own social and economic environments. We do this by training their coaches, consulting with national governing bodies and engaging partners to deliver programmes and access regular, ongoing development support.

  7. Provide the platform for programme graduates to give back – We encourage graduates of our programmes to visit regularly to inspire other young people to make good choices, work hard and make the most of their lives.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

2.2.2 Changing the story – identifying the social issues we tackle through sport

Responding to the challenges facing our young people, we have had to focus on a broad range of social issues over the past twelve months:

Knife crime and serious youth violence – Many of us do not realise half of all knife crime offenders in London are teenagers or even younger children (Metropolitan Police).

Social media influence on young women – Social media addiction is thought to affect around 5% of young people, particularly young women, with social media being described as more addictive than cigarettes and alcohol (Royal Society for Public Health).

Unemployment amongst vulnerable young people – The cost of youth unemployment over the next decade has been estimated at £28 billion, having wide social and economic effects (Youth Employment UK).

Disability inclusion in the workplace and in wider society – 3.3 million people of working age with a disability in the UK are economically inactive (Disability Rights UK – March 2018).

Mental health – One in eight children have a diagnosable mental health disorder; that is approximately three children in every classroom. One in six young people between the ages of sixteen to twenty-four has symptoms of a common mental disorder, such as depression or an anxiety disorder. In 2017, suicide was the most common cause of death for girls aged between five and nineteen (Young Minds).

2.2.3 Impact highlights – April 2020 – March 2021

The Change Foundation approach to impact measurement is based on the following principles:

We are authentic – we capture and translate authentic data from our young people, sharing knowledge and experiences that are relevant and true to the need we are addressing.

We are creative – we design creative impact measurement tools that engage our young people to provide high quality information.

We are consistent – we measure impact in a systematic way while young people are on our programmes and after they graduate, in order to track the difference we are making.

We are storytellers – we share the impact of our work as often as is possible with all stakeholders, taking a proactive rather than reactive approach to sharing our stories.

We are holistic in our approach– we believe that impact measurement is a coaching technique that is fundamental when delivering social impact programmes and requires the same preparation, innovation and training as delivering the sport itself.

We use a range of approaches to measure the impact of our work:

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(A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

THE CHANGE FOUNDATION

2.2.4 Programme by programme impact: April 2020 - March 2021

The Change Foundation uses sport as a vehicle to engage marginalised young people and to deliver measurable and sustained social impact. We systematically review and share social impacts, seeking to set and beat benchmarks and continuously raise the bar through innovation, a ‘test and refine’ approach and through continuous learning.

(i) Netball 4 Change – Teaching social media safety through netball Netball 4 Change uses the game of netball to teach girls affected by overuse of social media how to stay safe online. It empowers them to think more positively about their social graph, how it can affect their prospects and raises awareness of negative social media influences.

Netball 4 Change started in 2017 and over the last four years it has helped 919 girls aged 10 – 13 in Newcastle and London increase their knowledge about social media safety and reduce the time they spend on social media.

In 2020/21 59% of the young women reported that six months after the programme they were implementing key Netball 4 Change social media safety rules which has reduced the need to use social media so frequently, feelings of ‘FOMO’ (fear of missing out) and being drawn into unrealistic body images.

“Social media is a minefield and I definitely know that more than most…I’ve felt the pressure, but now I don’t care as much because you realise there’s more important things than impressing people you don’t know. That’s why amazing initiatives like Netball 4 Change are so worthwhile.” Montana Brown, Love Island 2017 star and Netball 4 Change supporter.

(ii) Street Elite – Training for work through sport

Street Elite is an award-winning training for work programme which engages young people aged 18 – 25 impacted by crime, violence and inequality and through sport help them transition from NEET (not in education, employment, or training) into work, apprenticeships, training, or education opportunities.

Street Elite started in 2011 and over the last 10 years Street Elite has recruited and trained 471 NEET young people in London and Birmingham (aged 16 – 25) on the edges of gangs and crime, preparing them

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

for employment through sport. In 2020/21, Street Elite recruited and engaged 58 young people of which 47 are now in work, education or training giving the programme an 81% success rate.

In 2019, The Change Foundation commissioned Bean Research to conduct a Social Return on Investment analysis of Street Elite based on the distance travelled for the 97 participants of the 2018 and 2019 cohorts. The analysis found, for every £1 invested, Street Elite generates £10.72 in social value over three years, through economic benefits, human capital gains, avoided exchequer costs and wellbeing improvements among programme participants. In fact, this equates to Street Elite generating £3.76million of social value through its last two years of delivery.

“Thank you, Street Elite, for all you have done for me. You gave me the opportunity to pursue something worthwhile and helped me pass my CSCS card and supported me on my way to a career in plumbing. I’m really grateful.”

L, Street Elite 2019 Graduate

(iii) London Futures – Reducing isolation through employability and sport London Futures is an employability programme for young Londoners aged 18 – 25 with learning disabilities and mental health problems, facing social isolation and loneliness. Using sport and specialised mentoring, these young Londoners unite to compete in employability challenges to improve their career aspirations and become more integrated in their communities.

The London Futures programmes started in 2019 and has engaged 92 young Londoners with a learning disability who are at high risk of long-term unemployment status and social exclusion. Their disabilities range from downs syndrome, autism spectrum disorder and moderate to severe learning disabilities and over 50% have associated poor mental health conditions.

In 2020/21, 67% transitioned into work, training, or education and 33% needed additional support with their employability skills.

“To find a service that is specifically for my son who is high functioning was wonderful. The staff are enthusiastic and engage well with all the young people. The activities are varied, and frequent reminders are sent out about what would be happening in each session in advance. I highly recommend the service and wish them all the best in the future!”

Parent of London Futures Graduate

(iv) Girls Win – Goal setting through sport

Girls Win uses sport to help young women with a disability aged 11 – 21 set short, medium and long-term goals. It empowers young women to think more positively about their future, how goal setting can develop their prospects for the future and engages them in activities that keep the body and mind healthy to adopt a positive attitude.

Girls Win started in 2016 and has engaged 242 young women in London, aged 11 – 16, with a minimum of two of the following disabilities: hearing impairment, visual impairment, autism spectrum disorder, physical and learning difficulties.

In 2020/21, 65% of Girls Win graduates demonstrated through one-to-one mentoring sessions with their Coach Mentor that they achieved their short, medium and long-term goals and feel more confident about their future.

“A enjoys coming to Girls Win, even if she’s unwell as it’s her favourite activity. She has gained in confidence since attending and has made new friends. For me as a parent, the Girls Win residential she attended with you was great as she had never been away before on her own. Her words were ‘it was fantastic, I want to

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

go again’. The Coach Mentor, Maddy, has had a positive impact encouraging A and making her feel at ease. She sees Maddy as a great role model.” Parent of Girls Win Graduate 2019

(v) 12 Rounds – Box smart, live smart

12 Rounds is an anti-knife crime education programme for children and young people in primary and secondary education. 12 Rounds uses boxercise, self-defence, and boxing to educate children and young people about the dangers of carrying a knife for protection and the impact carrying can have on themselves and others.

Our programme aims are:

100% of the children on the programme reported that ‘someone had been stabbed’ within two miles of their home, illustrating a desperate need for 12 Rounds in their local area.

In 2020/21, The Change Foundation partnered with Imperial College to deliver anti-knife crime awareness and education through the SHARP (Simulation-based Holistic Approach for Reducing and Preventing Knife Violence) project. The Change Foundation are responsible for delivering an anti-knife crime education through boxing and Imperial College provide virtual reality and in-person simulation, which recreates the story of someone who has been injured in a knife attack. As bystanders who join the simulation after the time of the injury, the young people provide first aid and support in a way that is safe for them and for the injured person. Young people follow the story beyond the initial injury, allowing them to learn more about the long-term impacts on the individual and their families. Young people also engage in facilitated debriefing with trained staff and trusted Change Foundation Coach Mentors and complete guided activities to help make sense of the learnings from the simulation and their own responses. In 2020/21, The Change Foundation young people helped to finalise and co-create the simulation ready for delivery in the autumn of 2021.

"There have been a number of exclusions due to pupils carrying a knife onto the school premises and on one occasion a student brought a BB gun into school and shot another student in the playground. I was shocked by the violence and the genuine intent to harm. What I've noticed is it tends not to be the "harder" students, the ones you'd expect. It's more likely to be your softer, more vulnerable students who are carrying a weapon for protection. As a teacher, you might be afraid, but often it's students I know well. It's so unpredictable. But when they’re carrying knives, it's frightening." Teacher from a school in East London

(vi) Visually Impaired Rugby – Inclusion and diversity across the rugby playing world In 2015, The Change Foundation set out to create an inspirational and completely new sport, designed to build on rugby’s commitment to social inclusion and personal wellbeing. We have been piloting the game

with youth and adult clubs in London and growing the game internationally through a visually impaired rugby three test match series in New Zealand during the British and Irish Lions tour in 2017 and in Japan during the Rugby World Cup in 2019. This has helped develop the rules, equipment and players to create a game based around the Rugby 7’s touch format. The gameplay takes into consideration a wide range of sight

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conditions whilst maintaining the fundamental codes, laws, and spectacle of rugby to both the players and spectators.

Over six hundred visually impaired players have joined visually impaired rugby clubs in the UK, New Zealand and Japan since the game was developed and over one hundred rugby referees from the UK, New Zealand and Japan have taken part in visually impaired rugby officiating training since 2016, helping to create a safe and accessible game for all.

Over two hundred visually impaired rugby coaches from the UK, New Zealand and Japan have taken part in visually impaired rugby coach training programme since 2016, ensuring there is a well-developed verbal communication system amongst players, which allows them to fulfil their potential as players and perform at high standard.

“I lost the sight in my left eye during a game of rugby. For me aged 20, it was hard to deal with but not as hard as some of the social issues young people face today. I believe strongly in the values within the game of rugby and I know the Change Foundation has been built around those same qualities. I look forward to being part of this positive movement.”

Ian McKinley, Rugby Union player for Italian side Benetton and Italian National Team and Change Foundation Visually Impaired Rugby Ambassador

- 2.2.5 The Impact of the COVID 19 pandemic

Being a sports charity, COVID-19 has had an obvious and direct impact on our engagement with the vulnerable groups we work with, but we adapted to continue to support them through online mentoring, messages, sessions and workshops, sports related tasks and challenges and providing counselling and support on the phone. We continued to create new ways to keep young people engaged otherwise we had the risk of the following to already vulnerable groups:

Delivering differently

For these reasons we developed online ‘sports at home’ weekly engagement, by creating a timetable of: TikTok dance challenges, fitness circuits and sports challenges recorded on smart phones, weekly wellbeing check-ins via WhatsApp groups and phone calls, referrals to online courses encouraging virtual learning and the creation of a Esports programme to help during the crisis. We continued our employability work of interview preparation and CV development remotely through business mentors. We supported very vulnerable young people by:

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COVID-19 Response Projects:

Since lockdown was enforced on 16 March 2020, we successfully gained funding for COVID-19 response projects to continue to engage vulnerable young people. The three projects we were funded for were:

  1. Esports – Esports is an increasingly popular form of sporting competition. It uses video games to bring individuals and teams together to compete in sports virtually and, like traditional sports, offers an engaging spectator element. At a time when the ongoing activities of the charity are being severely limited due to the coronavirus pandemic, we believe esports offers an innovative means of continuing to support and empower vulnerable young people during these unprecedented times. This pilot project ran for six months and consisted of: weekly esports tournaments, Esports meet-ups, with participants being linked up twice a week before and after tournaments to prepare for tournaments and debrief afterwards. It also served as a channel for participants to connect and get to know each other, share experiences, build friendships and a support network. We received a donation of 50 PlayStations from gaming company Take-Two Interactive which provided us with the necessary hardware to deliver this project.

  2. Indoor adventure – Each week for six months young people received a text message about an indoor adventure task and then through weekly Zoom calls we brought the group together to take part in live indoor adventures. Each adventure included a physical task, a critical thinking task and a creative task. Together, young people engaged in and created their own indoor adventure challenges to complete as a team during the calls. These weekly Zoom calls offered the young people an opportunity to socialise with their peers, set themselves goals to achieve and giving them an exciting adventure to look forward to every week.

  3. Self-care packs – To provide vulnerable young women with mental health care and support during COVID-19 by working in partnership with local groups in the heart of the community. The Change Foundation provided vital self-care packs to help vulnerable young women feel more positive during COVID-19. The self-care packs included items that reinforce the five NHS messages of maintaining good mental health. We delivered 2,500 self-care packs to vulnerable girls and young women on The Change Foundation programmes and to our referral partners.

The pandemic has helped the charity develop new skills and new methods of delivery, which we intend on keeping in our approach to sport for social change, these include:

2.2.6 Changing lives in our local community

The Change Foundation Centre and headquarters is in Wallington, in south London and is a crucial part of the local community. As well as providing a venue for local businesses, residents and sports teams, the Centre is home to two life changing programmes for local people.

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Refugee Cricket Project

The Refugee Cricket Project, delivered in partnership with the Refugee Council, works with young refugees and child asylum seekers, providing them with a safe space to play cricket, integrate into their new environment, gain advocacy support and help them develop a sense of belonging.

Over one hundred unaccompanied young refugees attend the Refugee Cricket Project each year. Over three hundred and fifty face-to-face advice sessions are undertaken at the project and young refugees are accompanied and supported at additional legal and welfare appointments.

Walking Sports

The Change Foundation delivers four walking sports sessions each week, which include walking football, cricket, netball and table-tennis. Over one hundred local residents, over the age of sixty, attend the walking sports clubs, helping them improve their physical and mental health, whilst providing an opportunity for socialising and networking.

Walking Sports participants say:

‘’I just like it here. It’s like when you are young kicking a ball around with your mates. It’s some time for myself. ‘’ David

“It helps me with the Parkinson’s disease. It’s great to kick a ball again with these guys.’’ Julian

2.2.7 Changing lives across the UK

London

The Change Foundation is based in London and employs thirty-two people. Through twelve sport for social change programmes in London, The Change Foundation recruited, engaged and helped 1,314 marginalised young people and vulnerable adults, transition to positive outcomes through sport.

Hat-Trick Project – Newcastle

The Change Foundation work in partnership with the Hat-Trick Project, who engage hard to reach local people in Newcastle's West End by delivering multiple sports projects. They have worked with over 20,000 people, with more than 9000 gaining sports qualifications and awards over thirteen years. The Hat-Trick Project delivers Netball 4 Change in Newcastle working with 158 marginalised girls and young women, aged 11 – 16, teaching social media safety through netball.

Serves – UK wide

The Change Foundation works in partnership with the Lawn Tennis Association, training Tennis Activators, across the UK, to deliver the ‘Serves’ social change programme, which integrates tennis and youth work to tackle social issues affecting the community. The Change Foundation trained over one hundred Tennis Activators from twenty sport for social change organisations across the UK.

British Fencing – UK wide

The Change Foundation facilitated the development of British Fencing’s strategy, building on their successful achievements and desire to increase more sport for social change work. The Change Foundation also helped British Fencing to develop new programme ideas and approaches.

Street Elite – Birmingham

The Change Foundation expanded the Street Elite programme to Birmingham, working in partnership with local community organisation, TSA Projects, aiming to reduce crime levels by supporting marginalised young people to reach their full potential. In 2020, Street Elite Birmingham worked with a cohort of fifteen

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young men, aged 18 – 25, involved in gangs and crime, helping them find suitable work and develop their careers to start a new way of life.

2.2.7 Changing lives around the world

The Change Foundation works closely with organisations around the world to help them adapt their methods to deliver sport for social change programmes. The outcome is more confident and skilled organisations capable of creating innovative programmes and measuring their impact.

International Visually Impaired Rugby – New Zealand, Japan and UK

The Change Foundation engaged over six hundred blind and visually impaired people using Visually Impaired Rugby across New Zealand, Japan and the UK and trained over two hundred coaches and one hundred officials in how to run the game. The Change Foundation created this innovative game in 2016, which is supported by World Rugby.

Euroleague Basketball – Spain

The Change Foundation provided online training for eighty-five representatives from forty-seven clubs involved in the Euroleague’s One Team CSR programme. The programme provides all clubs across Europe with a methodology to “use the power of basketball to integrate communities” and since its founding in 2012, the One Team programme has helped more than 16,000 participants through its team-focused projects.

2.2.8 Everyone is talking about ‘Change’: Awards and media

2020:

Awards Won

2019:

Awards Won

Highly Commended / Runner-up

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Media:

https://www.rugbyworld.com/tournaments/rugby-world-cup-2019/visually-impaired-rugby-hits-the-worldstage-in-japan-104434 https://www.itv.com/news/wales/2019-08-22/rugby-for-blind-and-visually-impaired-players-introduced-inwales/ https://www.rnib.org.uk/connect-community/connect-news-and-stories/vi-rugby https://warriors.co.uk/2019/08/29/warriors-hugby-players-selected-for-japan-tour/ https://www.quins.co.uk/news/harlequins-foundation-hosts-first-premiership-visually-impaired-hugbymatch/ https://www.stripes.com/visually-impaired-rugby-team-shows-military-kids-how-those-with-low-vision-canstay-in-the-game-1.603559 https://abilitytoday.com/visually-impaired-rugby-hits-the-world-stage-in-japan-rugby-world/ https://adventure.com/street-elite-change-foundation-columbia-sportswear-national-parks-uk/ https://www.thirdsector.co.uk/rising-stars-fundraisers-new-generation-2019/fundraising/article/1585198 https://www.eastlondonadvertiser.co.uk/news/boxing-champ-visits-youth-scheme-in-tower-hamlets-16092330 https://www.newhamrecorder.co.uk/news/teenagers-complete-street-elite-course-1-6069354 https://www.beyondthejoke.co.uk/content/7438/jennifer-saunders-netball https://www.thisislocallondon.co.uk/news/17974703.new-acton-social-club-welcomes-girls-disability/ https://www.waspslegends.co.uk/news/long-lunch-2019/ https://love.lambeth.gov.uk/street-elite-2019/ https://www.englandboxing.org/news_articles/limehouse-boxing-academy-team-up-with-street-eliteproject-to-help-londons-youth-unemployed/ https://www.newsshopper.co.uk/news/17719258.council-leader-celebrates-new-opportunities-for-thelocal-street-elite-graduates/ https://www.southwarknews.co.uk/news/pop-star-visits-young-mother-empowerment-street-eliteprogramme/ https://therooftop.news/2019/06/26/frank-bruno-backs-life-changing-street-elite-programme/ https://www.hillingdontimes.co.uk/news/17974703.new-acton-social-club-welcomes-girls-disability/ https://bccjacumen.com/saitama-hosts-blind-rugby/

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2.3 Our List of Funders - Champions for Change

Thank you to all our supporters, funders and partners. Without your contribution and generosity, our life changing work would not be possible.

2k Tiger A&J Ryan Alpha Solutions Bank of America Barclays Bank plc Barratt Homes BBC Children In Need Beagle Media Benetton Rugby Berkeley Foundation Best4Systems Bloomberg Bridge of Hope Bristol Bears Comm. Foundation British Blind Sport British Fencing Bryan Habana Foundation Capital City Media

Cardiff Blues Foundation Chapman Charitable Trust Charles Hayward Foundation Children in Need City and Guilds Group Comic Relief Community Action Sutton Ealing Borough Council EBM Charitable Trust

Educ.& Skills Funding Agency Eranda Rothschild Foundation Euroleague Basketball Freestar Garfield Weston Foundation Give as you Live Graeme Porteous Legacy Fund Greater London Authority Harlequins Foundation Hat-Trick Project Hodge Foundation Impact 100 London Investec Ireland Rugby Football Union

JMCMRJ Sorrell Foundation Sure UK/Rexona Laureus Sport for Good Table Tennis England Lawn Tennis Association Taborns Limehouse Boxing Academy Take-Two Interactive London Sport Tesco London Youth The Blagrave Trust Mackrell Solicitors The City Bridge Trust Magic Bus The Fairstead Trust Mayor of London The Wickham family Media Trust The Good Scout Company Mercedes Benz The Hargreaves Foundation Metro Blind Sport The James Trust Modest Golf Management Moore Stephens The Listening Fund Movement to Work The Mercers’ Company MRM National Grid Comm. Fund The National Lottery NaturallyTalentedMe.com The Primary Club New World Tech The Robert Gavron Trust NFL Flag The Sasakawa Foundation Norton Rose Fulbright Ospreys Foundation The Trevor Fund Penningtons Manches Coopers The Vintners Company Peter Cruddas Foundation The Will Charitable Trust Pinkster Gin Throgmorton Trust Postcode Community Trust Principle Insurance TSA Projects PwC Foundation United Business Group Refugee Council VCCP RNIB Viridor Credits Shoosmiths LLP Vision Foundation Souter Charitable Trust VX3 Southgate Rugby Club Southwark Council Waud Wines Sport England Wasps Foundation Springwell Clinic St James’s Place Foundation Wates Foundation Strathmore Comm Rugby Trust Willow Twin Sutton Community Fund World Rugby Sutton Educ. & Bus P’ship Youth Endowment Fund Sutton NEET Forum

The City Bridge Trust The Fairstead Trust The Wickham family The Good Scout Company The Hargreaves Foundation The James Trust The Lake House Foundation The Listening Fund The Mercers’ Company The Merchant Taylor’s Company The National Lottery The Primary Club The Robert Gavron Trust The Sasakawa Foundation Tony & Sheelagh Williams Foundation The Trevor Fund The Vintners Company The Will Charitable Trust Throgmorton Trust Toyota (GB) Charitable Trust TSA Projects United Business Group VCCP Viridor Credits Vision Foundation VX3 Wales Rugby Football Union Waud Wines Wasps Foundation Wasps Legends Charitable Foundation Wates Foundation Willow Twin World Rugby Youth Endowment Fund

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2.4 Structure, Governance and Management

The Change Foundation is a registered Charity in England & Wales and in Scotland and a company limited by guarantee. The liability of its members in the event of an insolvent liquidation is limited to a contribution of £1. The Charity’s governing instrument is its Memorandum and Articles of Association and it was incorporated on 23rd March 1995. It changed its name from The London Community Cricket Association to The Change Foundation on 5[th] March 2014. The Charity has two subsidiary undertakings – 4Change Enterprises Limited and Street2O Limited, incorporated on 25th March 2015 and 28th March 2006 respectively, and both currently dormant.

The Charity’s related parties are the Executive Committee members, senior staff and their related parties.

Committee Structure:

The Change Foundation places great emphasis on strong governance. The Charity current has an eightperson strong Trustee Board with the following supporting committees:

Resources and Governance Committee (RaG)

The Resources and Governance Committee takes responsibility for the following areas: Governance, company secretarial, legal, risk management, financial management and processes, human resources, board succession planning, operations, audit, benchmarking, Trustee appraisals, whistle blowing and systems management.

Programmes and Impact Committee (PIC)

The PIC has responsibility for ensuring that existing and new programmes are in line with The Change Foundation strategy and values; that programmes that are approved by this committee are referred to the board for approval; that our programmes are reviewed on a quarterly basis in relation to their income and expenditure; and that programmes are regularly reviewed by the committee to assess whether they are achieving the desired outcomes required by the Charity, our partners and funders.

Fundraising, Marketing and Communications Committee (FMC)

The FMC is responsible for overseeing, approving and monitoring our fundraising strategy, supporting the creation and implementation of our marketing and communications strategy and creating and approving innovative fundraising activities.

Principal Risks and Uncertainties

The board Trustees and each committee monitors and reviews the Charity’s risks at least once a year and have put in place effective control plans to manage and mitigate them.

The Charity’s current principal risks and their corresponding main control actions are:

  1. Risk of an incident or a child protection issue at a programme or other Charity event. A risk assessment is always undertaken as part of the programme or event planning process. All staff receive ongoing child protection training and DBS checks are mandatory for all staff, Trustees and volunteers.

  2. Unpredictability of income

Our fundraising staff aim at maximising the range of applications made to funders, while supplementary income is achieved through a range of fundraising events and challenges, as well as from our Cricket Centre trading activities. All income is monitored on a monthly basis as part of the charity’s internal procedures.

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3. Insufficient reserves

Our reserves policy aims at minimising such a risk. To this end, the charity’s income and expenditure is monitored on a monthly basis, driven by the monthly management accounts and related financial analysis and forecast

4. Loss or indisposition of key staff

This remains a risk and regular communication is encouraged through appraisals and debriefings as well as sabbaticals. Trustees continue to monitor and review the Senior Management Structure.

5. Risk of reputational damage caused by failure of a project

Project outcomes are regularly reviewed ensuring that programme goals are being achieved. The emphasis placed upon Impact measurement is fundamental to the success of the Charity. A rapid response group is in place to deal with the media and co-ordinate the Charity’s actions.

6. Risk of damage by cyber attacks

IT security is regularly reviewed, and additional measures have been introduced as a result. Regular system backups, new email security, increased staff awareness, regular system updates and the latest anti-virus software are features of the new IT policy.

7. The impact of the Covid-19 pandemic

The Charity developed and implemented a set of strategies and contingency plans in April 2020 to enable us to mitigate the potential impact of the pandemic on our operations and finances. The outcome and effectiveness of each of the strategies are regularly reviewed by the Executive Committee at scheduled / special committee and board meetings.

Charity Governance Code

Our Resources and Governance Committee have conducted a comprehensive review against all of the recommended practices contained in the Governance Code introduced in 2017. We are confident that we conform with the principles and outcomes therein. Some board actions undertaken to ensure ongoing conformity with the code include provision of guidance in the development of the Charity’s new 3 year strategy built around its vision and values; and also carrying out a Trustees’ skills audit aimed at informing recruitment and training required for board effectiveness.

Fundraising Standards Information

The Change Foundation is not involved in any form of consumer fundraising with the exception of events. Donations are all entirely voluntary and the only time that collection boxes are ever used is at the occasional event.

All other fundraising is aimed at Trusts, Foundations and companies with a CSR or Foundation arm. Where fundraising consultants have been used, their work is scrutinised and approved by members of the Senior Management Team who are involved in the fundraising bid process. The Charity does not use any professional fundraisers or commercial organisations to assist with its general fundraising and no complaints have been received in relation to this activity.

Remuneration Policy for Key Management Personnel

The Charity considers its key management personnel to comprise Trustees, CEO and the Senior Management Team as detailed in note 13.

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Executive Committee (Trustees)

The Trustees of the Charity are not paid. They may claim travel expenses and other legitimate expenses incurred in the performance of their Trustee duties. These expenses have to be approved by the Chair. The Chair’s expenses are approved by the Chair of the Resources and Governance Committee.

Chief Executive Officer

The remuneration of the Chief Executive Officer is decided by the Chair of the Charity in consultation with the Resources and Governance Committee and the Director of Corporate Services (HR) who annually researches pay in the sector and in comparable organisations.

The Charity seeks to remunerate the Chief Executive Officer so that we can recruit and retain a top-class individual who will deliver the Strategic Plan and enable the Charity to continue to develop its great work in a competitive environment. This may mean paying in the upper quartile for the sector.

Senior Management

The remuneration of the senior management team is reviewed annually in April and decided by the Chief Executive Officer and approved by RaG in consultation with the Director of Corporate Services (HR), whose own salary is reviewed by the CEO.

Staff & Trustee Development

Our development team is one of the Charity’s greatest assets. We take pride in recruiting our team members from within our programmes as they have a great understanding of the young people we target with our work. Staff development is therefore an essential element of the way we work.

The Change Foundation maintains the highest standards of programme delivery and impact measurement. The training structure is designed to support an evolving workforce that is empowered and ready to develop and deliver traditional and non-traditional programmes by:

Trustees are advertised for and/or we conduct searches for the required skills and experience taking account of our current skill base and diversity. Once appointed, Trustees are given an induction by the Chair and the CEO which ensures that Trustees:

All Trustees have regular relevant training and updates which are aimed at further equipping them to fulfil their duties to the Charity effectively. Recent Trustees’ training have included a session on Safeguarding within the context of the Charity’s operations.

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2.5 Financial Review

The results of the year’s activities are set out in the attached financial statements. The Charity’s gross income for the 2020/21 financial year was £1,059,721 (2020: £989,607), while its total expenditure was £1,063,633 (2020: £1,109,384), thus culminating in an overall net deficit of £3,912 (2020: £119,777 deficit). The improved net outturn relative to the previous year is mainly attributable to the volume of one-off Covid-19 support grants, donations and government grants received during the period. These strengthened our ability to continue to deliver specially adapted support and intervention services to our young people and other client groups all throughout the Covid19 pandemic. The receipts largely compensated for the significant adverse impact of the pandemic restrictions on our fundraising and Cricket Centre trading incomes for the year.

Our unrestricted income increased by 8% year-on-year to £344,216 (2020: £317,339). The unrestricted income comprised general donations of £265,355 (2020: £71,537), unrestricted income from charitable activities of £15,046 (2020: £47,713), fundraising and Cricket Centre trading income of £63,606 (2020: 196,712), and investment income (bank interest) of £209 (2020: £1,377). The increase in our unrestricted income is predominantly attributable to a 2.4 fold increase in general donations and donations-in-kind to £174,459 (2019: £71,537) thanks to generous receipts aimed at tiding the charity through the pandemic, and to government job retention (CJRS) and business support grants of £90,896 (2019: Nil) - mostly due to the covid-19 pandemic. The increases in the two income streams more than compensated for a 67% reduction in our fundraising and Cricket Centre trading incomes (as most of our planned fundraising events were cancelled save for the few that could be innovatively adapted/ redesigned for delivery online, while demand for Centre facility were curtailed by the pandemic lockdowns). Total unrestricted expenditure was down 8% to £331,305 (2020: £362,291), reflecting savings on fundraising and head office costs as many planned activities were either carried out remotely or cancelled. Overall, our unrestricted activities had a net surplus outturn of £12,911 for the year (2020: £44,952 deficit).

Restricted income totaled £715,505 for the year (2020: £672,268). The increased income is mainly attributable to a range of one-off Covid -19 support grants secured for the provision of specific support interventions aimed at mitigating the potential adverse effects of the pandemic on our client groups. Our restricted expenditure was £732,328 (2020: £747,093), the year-on-year decrease being a result of pandemic lockdown related cost savings. Restricted activities consequently incurred a net deficit of £16,823 for the year (2020: £74,825 deficit).

Total funds as at close of our 2020/21 financial year was £1,268,356 (2020: £1,272,268), of which £880,752 (2020: £897,575) is attributable to restricted reserves and £387,604 (2020: £374,693) to unrestricted reserves. The restricted reserves comprises the Cricket Centre and Indoor School facilities with total book value of £795,676 (2020: £821,389) and net programmes reserves of £85,075 (2020: £72,972). The unrestricted reserves consists of our designated Innovation Fund balance of £35,050 (2020: £50,000), our designated Fixed Asset Fund of £13,682 (2020: £14,856), and general funds (free reserves) of £338,872 (2020: £309,837). The £29,035 increase in free reserves corresponds with the £12,911 net surplus for unrestricted activities, after adjusting for a £14,950 expenditure charged to the Innovation Fund, and for a net expenditure of £1,174 charged to the Fixed Asset Fund.

Reserves Policy

The Trustees recognise that The Change Foundation needs to hold a certain level of free reserves. The purpose of the free reserves is to strengthen our core financial resilience in order to be able to

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effectively manage and navigate financial risks such as delays in grant receipts, programme funding shortfalls, inability to achieve fundraising and Cricket Centre income targets and challenges posed by unforeseen expenditure demands and events such as the covid-19 pandemic.

The Trustees have reviewed the level of reserves required to cover these eventualities. In line with good practice, the Trustees have opted to link the target level of free reserves directly to its analysis of the key risks faced by the Charity, the likely impact of those risks, and the probability of them occurring. On that basis, the Trustees currently estimate the amount of free reserves required to cover those risks to be £300,000 - which is equivalent to about 3 months worth of the Charity’s normal operational expenditure. The actual free reserves level at 31 March 2021 was £338,872 (2020: 309,837). The slightly higher closing free reserves relative to target gives us increased financial headroom to extend the scope and dimensions of some of our programmes, and to trial some new pilot cross-programmes activities with the aim of improving our levels of outcome overall.

Covid-19

As was anticipated at the outset of the financial year, the Covid-19 pandemic presented a unique set of challenges to our operations and finances during the year. On the whole, the charity’s Covid-19 response strategies developed by management in conjunction with the board of trustees proved successful as it enabled us to adapt and effectively deliver most of our continuing, as well as various one-off support programmes throughout the year, while securing diverse sources of funding to sustain our activities during such unprecedented times. We anticipate an ongoing impact of the pandemic into the early months of 2021/22 and have developed appropriate strategies in our operational and financial planning that position us to effectively manage likely eventualities.

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2.6 Our plans for the future

During discussions in the sport for development and youth charity sectors, you often hear people talking about the unprecedented challenges facing young people today and the use of the word ‘crisis’ is regularly used. We do not think this is a useful word when working with young people whose lives often need a strong positive focus and we prefer to highlight the new opportunities that change creates rather than dwell on what might have been. Our main role is to create hope and direction in our young people and increasingly in our many partners, most of whom are re-thinking how they operate, having had a year they had definitely not planned for. We had also not planned for a pandemic but what we do plan for and welcome is the inevitability of change. This approach has meant we have come out of this period of disruption even stronger than we entered it, with a host of new partnerships, pilot programmes, fundraising initiatives and, most importantly, new ideas about how we recruit and retain young people on our programmes, using a new combination of online and face to face delivery.

It is however clear that our young people are facing a host of uncertainties in the year ahead, with predicted high levels of youth unemployment, alongside other pressures, including feeling excluded, being under constant pressure from social media, the threat of knife crime, to feelings of loneliness and isolation. Developing a strong sense of purpose is a powerful way to help tackle these challenges and remains a common theme across our core programmes and our new pilot programmes, all of which have been created by our young people with support from our skilled and experienced Coach Mentors.

Another common theme across all our work is building resilience through being comfortable with change, trying new things and feeling the thrill of unexpected success. Sport provides the perfect vehicle through which young people can learn from failure and share success, life skills which help them develop their selfbelief and a positive perspective on their ability to deal with the ups and downs they will inevitably face.

For the charity as a whole, the next twelve months should be an exciting mix of launching new initiatives and getting to know new partner organisations. We already expect our new Esports programme to become an integral part of our programme delivery in the year ahead and for it to remain an important part of how we recruit and engage young people for years to come, complementing our normal face to face work. Our new Esports Academy, delivered in partnership with Razer Gaming, will support young people from a marginalised and disadvantaged background into their first job in the ever-growing gaming sector.

We are also developing an exciting new partnership with New World Tech (NWT), through which we match young people from our programmes who would like to pursue a career in the tech industries, with partner companies of NWT’s, who have vacancies they increasingly struggle to fill. It is still early days for these new highly focused employment programmes but we have great hopes for both of them being able to support our young people into these specialist careers.

Our young Coach Mentors and our walking sports players have developed ‘Table Tennis 4 Change’, a pioneering intergenerational programme based at our Centre in south London, which will link together people, aged sixty and over, with young people from our London Futures disability employment programme. Each group will teach each other new skills, work together to reduce feelings of social isolation, play table tennis together and keep mentally and physically fit.

Dance4Change will also be relaunching after a review by our young people and a re-structure, with a new emphasis on using dance with young women who are suffering from mental health challenges. A combination of year-round dance sessions and regular residentials will offer the young women practical insights into looking after their own mental health, providing group support at times of stress and anxiety and developing techniques to help them get their lives back on track.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

In partnership with Imperial College, our anti knife crime programme, 12 Rounds, is expanding its reach to west London, enhanced through a ground-breaking, new ‘knife crime simulation roadshow’. The programme teaches years six and seven children how to get home safely after school, by far the most common time for knife attacks.

Our Street20 Premier League will expand to eight cities across the UK, uniting young people from a range of religious, ethnic, cultural and geographic backgrounds, through competitions and residentials. Netball4Change is also growing, and the year ahead will see the programme expand into two new London boroughs and two more UK cities as it seeks to inspire more and more teenage girls to make sure their social media use has a positive rather than negative effect on their lives.

Two exciting new pilot programmes will start outside of London. ‘On Par’ is a new partnership with Modest Golf Management and uses golf to prepare young people who are marginalised or at risk of becoming longterm unemployed for a career in the golf sector and Rugby4Change teaches children in the last year of primary school about the dangers of county lines drugs gangs and how to avoid their growing influence. On Par is being piloted in Crawley and Rugby4Change in Brighton, a high-risk city in terms of county lines activity.

Our ‘Blind Lions’ visually impaired rugby team tour of South Africa to play the ‘Blind Boks’ in July was cancelled due to the Covid-19 pandemic, however, the game continues to grow and we will be working closely with each of the Premiership Rugby clubs to help them set up their own visually impaired rugby teams and support them into competing in the first national visually impaired rugby competition in September. We will also be supporting Wales, Scotland, Ireland, Italy and France to establish their own visually impaired rugby programmes in advance of the first Six Nations showcase event in 2022. An associated new ‘eye health’ campaign will use a host of high-profile rugby events to educate sighted rugby players and fans about the need to look after their eyesight and a new online training platform will educate and inspire players, coaches and officials across the rugby playing world to join us in making visually impaired rugby a truly worldwide sport. A new partnership with the RNIB and the continued support of the Wasps Legends Charitable Foundation, will ensure that this programme continues to inspire the world of rugby to be a world leader in inclusivity and diversity.

Many of our visually impaired players have been busy raising money for the continued development of the game in the UK and around the world, helping themselves and helping others. Our Young Ambassadors also continue to drive change through their ideas and initiatives, including creating our first Christmas gift appeal at the end of 2020 and distributing 2,500 care packs, during the height of lockdown, to socially isolated women and girls across south London, again learning new skills, whilst helping others.

Our growing women and girls’ network will also drive change across our programmes and ensure we remain at the cutting edge of using sport to create profound and lasting change in the lives of girls and young women across the UK and around the world.

The drive to ‘put something back in’ is very strong in our young people and we will continue to help unlock their energy and ideas through our expanded ‘Innovation Fund’, which our young people can use to support new ideas that increase our impact and which we can then share with the sport for social change sector. Our 40[th] Anniversary celebrations are a huge milestone for the organisation and our staff, Trustees and Ambassadors are each undertaking a fundraising event or challenge in the year ahead to raise funds for the Innovation Fund.

Page 26

THE CHANGE FOUNDATION (A Company Limited by Guarantee) EXECUTIVE COMMITTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

One of the new projects it is supporting is a new initiative created by the men and the women in the organisation, which is testing new ways to educate boys and young men about their role in making sure women and girls feel safe.

And it looks like the 40[th] country we will have worked in will be Gambia, where we are delighted to be working with Run the Bases, a relatively new NGO which uses softball to teach children about gender equality.

We know that many charities have struggled over the last twelve months, however, through innovation, feeling comfortable with change and through adapting our approach, we feel proud to report that we are busier and more in demand than we have ever been. Here is to a great 40[th] birthday.

2.7 Public Benefit Statement

The Executive Committee members confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The public benefit of the charity’s activities are outlined under ‘Objectives and Activities’ earlier in this document.

Auditors

MHA MacIntyre Hudson have indicated their willingness to accept re-appointment under Section 485 of the Companies Act 2006.

This report was approved and authorised for issue by the Executive Committee on 20[th] December 2021 and signed on its behalf by:

Alex Clode Chair – The Change Foundation

Page 27

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

2.8 STATEMENT OF EXECUTIVE COMMITTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021

The Executive Committee (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Executive Committee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The Executive Committee are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Executive Committee on 20[th] December 2021 and signed on its behalf by:

Alex Clode

Chair - The Change Foundation

Page 28

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION

Opinion

We have audited the financial statements of The Change Foundation (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report.

We are independent of the 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. Our evaluation of the Trustees’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided.

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 auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work

Page 29

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION

(CONTINUED)

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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ report.

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

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement included in the Trustees’ Annual Report, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Page 30

THE CHANGE FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION

(CONTINUED)

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

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Use of this report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart McKay BSc FCA DChA (Senior Statutory Auditor) For and behalf of

MHA MacIntyre Hudson Statutory Auditors London, United Kingdom

Date: 20/12/2021

Page 31

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations
4
Charitable activities
5
Trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9,10
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021

£
265,355

15,046
63,606
209
Restricted
funds
2021

£

-
715,505
-
-
715,505
-
732,328
732,328
(16,823)
897,575
(16,823)
880,752
Total
funds
2021

£
265,355
730,551
63,606
209
1,059,721
239,447

824,186
1,063,633
(3,912)
1,272,268
(3,912)
1,268,356		 Total
funds
2020
£
71,537
719,981
196,712
1,377
344,216 989,607
239,447
91,858		 304,473
804,911
331,305 1,109,384
12,911 (119,777)
374,693
12,911		 1,392,045
(119,777)
1,272,268
387,604

All income and expenditure derive from continuing activities.

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

The notes on pages 33 to 56 form part of these financial statements.

Page 32

THE CHANGE FOUNDATION (A Company Limited by Guarantee) REGISTRATION No. 03039017

BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
14
Investments
25
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 2021
2021
£ £
831,375
3
831,378
2,867
127,562
586,568
716,997
(280,018)
436,979
1,268,357
880,753
387,604
1,268,357		 2020
2020
£
£
836,245
3
836,248
4,391
77,470
539,013
620,874
(184,854)
436,020
1,272,268
897,575
374,693
1,272,268		 2020
2020
£
£
836,245
3
836,248
4,391
77,470
539,013
620,874
(184,854)
436,020
1,272,268
897,575
374,693
1,272,268
1,272,268
897,575
374,693
1,272,268

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005.

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

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

The financial statements were approved and authorised for issue by the Executive Committee on 20/12/2021 and signed on their behalf by:

...................................... ...................................... Alex Clode Steve Wootten Chair Treasurer

The notes on pages 35 to 56 form part of these financial statements.

Page 33

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Cash flows from operating activities
Note
Net cash used in operating activities
20
Cash flows from investing activities
Investment income
7
Purchase to acquire tangible fixed assets
14
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21		 2021
£
79,256		 2020
£
11,816
209
(31,910)		 1,377
(14,190)
(31,701) (12,813)
47,555
539,013		 (997)
540,010
586,568 539,013

The notes on pages 35 to 56 form part of these financial statements

Page 34

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

The Change Foundation is a charitable company and is registered with the Charity Commission (Charity Registered Numbers 1046047 and SC043569) and Registrar of Companies (Company Registration Number 03039017) in the United Kingdom.

In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activity is to change the lives of young people through sport and dance.

2. Accounting policies

2.1 Basis of preparation of financial statements

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

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

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound.

2.2 Funds

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

Designated funds comprise unrestricted funds that have been set aside by the Executive Committee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund where required by the funder.

2.3 Income recognition

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

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding

Page 35

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

amount is then recognised in expenditure in the period of receipt. No amounts are included in the financial statements for services donated by volunteers. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

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

The Charity receives government grants in respect of furthering its charitable objectives, including Covid-19 Job Retention Scheme grants during the 2020/21 financial year. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be reliably measured. If entitlement is not met then these amounts are deferred.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure recognition

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

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 36

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

The Cricket for Change Centre - 2% on building cost Indoor school - 3.33% on building cost Freehold land - Not depreciated Buildings Fixtures and Fittings - 10% on depreciated cost Sporting and Office Equipment - 25% on depreciated cost and Fixtures

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Debtors

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

2.8 Liabilities and provisions

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

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

Page 37

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.9 Financial instruments

The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the charity are as follows:

Debtors - trade debtors, other debtors and grants receivable are basic financial instruments and are debt instruments measured at amortised cost, this can be seen at Note 16. Prepayments and accrued income are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Liabilities - accruals are classified as financial instruments, and are measured at amortised cost, this can be seen at Note 17. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is simply an obligation to deliver services rather than cash or another financial instrument.

2.10 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.11 Going concern

The Executive Committee have assessed the charity’s financial position using the going concern principle, as part of which it considered possible events or conditions (including the impact of COVID19 pandemic) that might cast significant doubt on its ability to continue to operate.

The Executive Committee have made this assessment for a period of one year from the date of the approval of these financial statements. When assessing, the Executive Committee reviewed its overall reserves, cost and revenue implications and any specific additional costs. It concluded that for the period assessed, its cost base will reduce in line with any reduction in revenue caused by the COVID-19 pandemic in areas such as fundraising events and centre income. The forecasted income for 2021 and beyond remains strong and the pipeline for securing more funding to address the issues caused by the pandemic looks fruitful. The Executive Committee have therefore concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Furthermore, the Executive Committee does not believe that there are any material uncertainties over the Charity’s ability to continue as a going concern. The Charity therefore continues to adopt the going concern basis in preparing these financial statements.

2.12 Employee benefits

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The Charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Page 38

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In particular, due consideration was given to the potential implications of the COVID-19 pandemic on accounting judgements made in connection with the 2021 financial statements. The pandemic has not impacted the judgements made.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

4. Income from donations

General donations
Government Grants
Donations-in-kind
Total
Total 2020		 Unrestricted
funds
2021
£
136,421
90,896
38,038
265,355
71,537		 Total
funds
2021
£
136,421
9 0,896
38,038

265,355
71,537		 Total
funds
2020
£
71,537
-

71,537

Included within General donations is a donation of goods (in the form of 50 units of PS4 Playstation consoles) valued by the Charity at £15,600 (2020: Nil). The value of the goods was fully expensed in the 2020/21 accounts.

Also included within Income from donations is grant income of £72,368 (2020: £Nil) received from the Coronavirus Retention Scheme. There are no unfulfilled conditions or other contingencies attached to the government grants above.

Page 39

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

  1. Income from charitable activities
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
£ £ £
Disability - 180,315 180,315
Urban - 535,190 535,190
Cricket Centre and Indoor School 15,046 - 15,046
Total 2021 15,046 715,505 730,551

Included within Income from Charitable Activities is grant income received from the following government sources:

There are no unfulfilled conditions or other contingencies attached to the government grants above.

Unrestricted Restricted Total
funds funds funds
2020 2020 2020
£ £ £
Disability - 174,347 174,347
Urban - 497,921 497,921
Indoor School 47,713 - 47,713
Total 2020 47,713 672,268 719,981

Page 40

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. Income from other trading activities

Facility hire
Bar income
Fundraising events
Other income
Total 2021
Total 2020
Income from investments
Bank interest receivable
Total 2020		 Unrestricted
funds
2021
£
7,155
526
38,621
17,304
63,606
196,712
Unrestricted
funds
2021

£
209

1,377		 Total
funds
2021
£
7,155
526
38,621
17,304
63,606
196,712

Total
funds
2021

£
209
1,377		 Total
funds
2020
£
40,360
33,795
109,372
13,185
196,712

Total
funds
2020
£
1,377

7. Income from investments

Page 41

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Expenditure on raising funds

Direct costs
Direct costs
Support costs
Overheads
Premises costs
Website, advertising and publications
Legal, professional and consultancy fees
Governance costs
Staff costs
Depreciation		 2021
£
214,498
214,498
5,819
1,359
807
2,846
2,798
9,449
1,872		 2020
£
254,071
254,071
10,338
3,313
-
1,993
4,088
28,873
1,797
24,949
239,447		 50,402
304,473

In 2020/21, all expenditure on raising funds was from unrestricted funds.

Page 42

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. Analysis of expenditure on charitable activities - by fund

Disability
Urban
Cricket Centre and Indoor School
Other Charitable Activities
Total 2021		 Unrestricted Restricted
Total
funds funds
funds
2021 2021
2021
£
£
£
-
170,068
170,068
-
535,780
535,780
19,488
26,481
45,969
72,369 - 72,369
91,857 732,329
824,186		 Unrestricted Restricted
Total
funds funds
funds
2021 2021
2021
£
£
£
-
170,068
170,068
-
535,780
535,780
19,488
26,481
45,969
72,369 - 72,369
91,857 732,329
824,186		 Unrestricted Restricted
Total
funds funds
funds
2021 2021
2021
£
£
£
-
170,068
170,068
-
535,780
535,780
19,488
26,481
45,969
72,369 - 72,369
91,857 732,329
824,186
732,329 824,186
Disability
Urban
Cricket Centre and Indoor School
Total 2020		 Unrestricted
funds
2020
£
-
-
57,818		 Restricted
Total
funds
funds
2020
2020
£
£
180,092
180,092
541,289
541,289
25,712 83,530

747,093
804,911
57,818

Page 43

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Analysis of expenditure by charitable activities - by type

Disability
Urban
Cricket Centre and Indoor School
Other Charitable Activities
Total 2021
Disability
Urban
Cricket Centre and Indoor School
Total 2020		 Activities
undertaken
directly
2021
£
147,554
464,853
43,389
56,040
711,836
Activities
undertaken
directly
2020
£
150,709
452,966
74,098
677,773		 Support
costs
2021
£
22,514
70,927
2,580
16,330
112,350
Support
costs
2020
£
29,383
88,323
9,432
127,138		 Total
funds
2021
£
170,068
535,780
45,969
72,369
824,186
Total
funds
2020
£
180,092
541,289
83,530
804,911

Page 44

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Analysis of expenditure by charitable activities - by type

(continued) Analysis of support costs

Staff costs
Depreciation
Overheads
Premises costs
Legal, professional and consultancy fees
Website, advertising and publications
Governance costs
Total		 Total
funds
2021
Total
funds
2020
£
£
42,551
72,841
8,428
4,532
26,202
26,066
6,118
8,359
12,816
5,028
3,633
12,602
-
10,312		 Total
funds
2021
Total
funds
2020
£
£
42,551
72,841
8,428
4,532
26,202
26,066
6,118
8,359
12,816
5,028
3,633
12,602
-
10,312
112,350 127,138

11. Governance costs

Auditors' remuneration - Audit of the financial statements
Auditors' remuneration - PY Audit fees' under/(over) provision
Auditors' remuneration - Accounts preparation		 2021
2020
£
£
12,600
12,000
1,800
400
-
2,000
14,400
14,400

Governance costs of £14,400 (2020: £14,400) are represented by £10,944 (2020: £10,312) expenditure on charitable activities and £3,456 (2020 - £4,088) of expenditure on raising funds.

12. Executive Committee's remuneration and expenses

During the year, no Executive Committee Members received any remuneration or other benefits (2020 - £Nil).

During the year, no Executive Committee Members received any benefits in kind (2020 - £Nil) During the year ended 31 March 2021, no Executive Committee Members’ expenses have been incurred (2020 - £ Nil)).

Page 45

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Staff costs

Wages and salaries
Social security costs
Pension costs		 2021
£
622,033
59,030
39,305
720,368		 2020
£
563,133
49,146
35,787
648,066

The average number of persons employed by the Charity (including casual and part-time staff) during the year was as follows:

2021 2020 No. No. 3 3 10 9 5 5 6 6 4 4 28 27

Raising funds 3 3 Urban 10 9 Disability 5 5 Cricket Centre 6 6 Support 4 4

The average headcount expressed as full-time equivalents was:

2020 2020 No. No. Raising funds 2 2 Urban 10 9 Disability 4 4 Cricket Centre 1 1 Support 3 3 20 19

Page 46

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

In the band £60,001 - £70,000

2021 2020 No. No. 1 1

The total amount of employee benefits received by Key Management Personnel is £315,618 (2020: £308,617). The Charity considers its Key Management Personnel comprise:

Page 47

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14. Tangible fixed assets

----- Start of picture text -----
Cricket Centre Indoor Buildings Sporting & Total
school fixtures & office
fittings equipment
& fixtures
£ £ £ £ £
Cost or valuation
-
At 1 April 2020 964,600 289,329 79,278 1,333,207
Additions - - 25,999 5,911 31,910
At 31 March 2021 964,600 289,329 25,999 85,189 1,365,117
Depreciation
-
At 1 April 2020 326,952 105,588 64,422 496,962
Charge for the year 19,292 9,635 768 7,085 36,780
At 31 March 2021 346,244 115,223 768 71,507 533,742
Net book value
At 31 March 2021 618,356 174,106 25,231 13,682 831,375
At 31 March 2020 637,648 183,741 - 14,856 836,245
----- End of picture text -----

The Cricket Centre comprises freehold land and buildings at Plough Lane, Wallington which was converted to a cricket ground together with a pavilion and ancillary facilities. The land was originally purchased for a nominal £1. There is a covenant on the land restricting its use to sporting purposes.

The indoor cricket school, which was built on the Plough Lane land, is also restricted as to its use.

The Building fixtures and fittings additions are costs of installing new industry standard floor carpets and an energy efficient lighting system at the indoor cricket nets facility of the Indoor School. The bulk of the costs, as well as those for five new table tennis tables (included under Sporting & office equipment & fixtures) were donated by Viridor Credits.

15. Stocks

15. Stocks
2021
2020
£
£
Bar stock 2,867
4,391

Page 48

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
760
500
126,302
127,562		 2020
£
4,243
3,621
69,606
77,470

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
eferred income
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 March
Deferred income relates to:		 2021
£
3,796
15,519
4,894
255,810
280,019
2021
£
141,994
241,410
(141,994)
241,410		 2020
£
11,289
14,596
2,975
155,994
184,854
2020
£
151,436
141,994
(151,436)
141,994

Deferred income

Some of the 2021 deferred income for Facility hire and the Indoor school relate to cash receipts in anticipation of service provision sometime during the 2019/20 and 2020/21 financial years but which the Charity has been unable to provide due to the Covid-19 pandemic restrictions.

Page 49

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THFINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Statement of funds

Statement of funds - current year

Designated funds
Fixed Asset Fund
The Innovation Fund
Unrestricted funds
General Funds
Total Unrestricted funds
Restricted funds
The Cricket for Change Centre
Indoor Cricket School
Disability Programmes
Urban Programmes
Total of funds		 Balance at 1
April 2020
£
14,856		 Income
£
-		 Income
£
-		 Expenditure
£
-		 Expenditure
£
-		 Transfers
in/out
£
(1,174)		 Transfers
in/out
£
(1,174)		 Balance at
31 March
2021
£
13,682
50,000 - (14,950) - 35,050
64,856
309,837
374,693

640,863
183,740
70,340
2,632
897,575		 -
344,216
344,216

-
-
180,315
535,190
715,505		 (14,950)
(316,355)		 (1,174)
1,174		 48,732
338,872
(331,305) - 387,604
(19,292)
(9,635)
(170,068)
(533,334)		 -
-
-
-		 621,571
174,105
80,587
4,488
(732,329) - 880,751
1,272,268 1,059,721
 (1,063,633) - 1,268,356

Page 50

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Statement of funds (continued)

Designated funds

Fixed Asset Fund

The fixed assets are not easily realisable and therefore, for clarity, are not represented by the general reserve. The balance carried forward is equal to the year end net book value of fixed assets without continuing restriction. Restricted funds are those held for those subject to continuing restriction. The transfer from general funds in the year represents the net of additions of new fixed assets and the depreciation charged on the assets still in use.

The Innovation Fund

The Change Foundation Innovation Fund was created from £50,000 of unrestricted reserves in 2017. The award winning Fund aims to create a platform for our inspirational team to bring their ideas to life, with priority given to projects which:

The fund is available to all staff to apply for, either on their own or in partnership with other members of staff and/or in partnership with Trustees, ambassadors and our young people. The grant making panel is currently made up of the TCF Chair, TCF Vice Chair and TCF CEO.

To date, the Fund has facilitated some of our innovative pilot programmes such as Visually Impaired Rugby, Boxing 4 Change, and our Small Grants Programme for our young programme participants (nominal contributions towards specific promising career development activities).

The fund had two active projects during the year: the TCF Impact Assessment and Social Return On Investment (SROI) project (awarded £25,000 over three years). Its main objective is to work with experts and consultants to develop a more comprehensive and holistic framework for the assessment and measurement of the impact of the Charity’s work and programmes. The SROI project expenditure was £14,250 during the year. The fund also financed the set up of our new Young Ambassadors project (awarded £5,000 for one year). The project aims at creating and engaging an active group of young people aged between 17-25 in various ways to give them a voice to influence the charity’s work and represent all of the young people on our programmes. The project’s expenditure was £600 during the year.

Restricted funds

The Cricket for Change Centre

This relates to the cricket pavilion and grounds at Plough Lane which was funded by a restricted grant. The fund is reduced in line with the depreciation of the buildings.

Indoor School

This fund relates to capital grants received to develop the indoor cricket school (renamed The Paul Wickham Indoor Centre). The balance carried forward reflects the funds with continuing restriction, and is reduced each year in line with depreciation of the capital asset.

Disability Programmes Fund

This fund is for projects that improve the lives of people with a disability. During the year, two of our programmes, namely London Futures and Girls Win were successfully engaged in the Charity’s delivery of such intervention.

Page 51

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Statement of funds (continued)

Funding for these programmes were received from various sources during 2020/21, notably BBC Children in Need, Comic Relief, St James Place Foundation, Investec, Garfield Weston Foundation, Education and Skills Funding Agency, National Grid, Sport England, Merchant Taylor’s Company and The Tony & Sheelagh Williams Foundation. The fund has a balance carried forward of £778,703 to be further deployed in our Disability programme activities.

Programmes Urban Fund

The fund is for projects that improve the lives of young people from ‘at risk’ and disadvantaged backgrounds. Our charitable interventions are delivered using creative sport-based methodologies involving sports such as cricket, rugby, netball, boxing, dance and e-sport. Programmes delivered with

in this category during the year are Street Elite London, Street Elite Birmingham, Netball 4 Change, Dance 4 Change, 12 Rounds, Visually Impaired Rugby, the Refugee Cricket Project as well as a range of ad hoc Covid-19 support projects. During the financial year, funding for continuing programmes were notably received from the Berkeley Foundation, Comic Relief, Greater London Authority’s (GLA) Mayor’s Impact Partnership Fund, Laureus, Comic Relief, Hargreaves Foundation, EBM Charitable Trust, MIND, Impact 100 - London, Eranda Rothschild Foundation, Shoosmiths and The Refugee Council as well as from numerous other charitable donations. Additionally, funding for our cross-programmes Covid-19 support projects were received from Barclays Bank plc, Take Two Interactive, Comic Relief, The National Lottery Community Fund, The City Bridge Trust, Laureus Sport for Good, Toyota, PWC Foundation and The Lake House Charitable Foundation.

Page 52

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Fixed Asset Fund
The Innovation Fund
Unrestricted funds
General Funds
Total Unrestricted funds
Restricted funds
The Cricket for Change Centre
Indoor School
Disability Programmes
Urban Programmes
Total Restricted funds
Total of funds		 Balance at
1 April 2019

£
3,780
50,000
53,780
365,865
419,645
Income

£
-
-
-
317,339
317,339
Expenditure
£
-
-		 Transfers
in/out
£
11,076
-		 Balance at
31 March
2020
£
14,856
50,000
- 11,076 64,856
(362,291) (11,076) 309,837
(362,291) -
374,693
656,940
193,375
76,085
46,000
972,400
1,392,045
-
-
174,347
497,921
672,268		 (16,077)
(9,635)
(180,092)
(541,289)		 -
-
-
-		 640,863
183,740
70,340
2,632
(747,093) - 897,575
989,607 (1,109,384) - 1,272,268

Page 53

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Analysis of net assets between funds
Analysis of net assets between funds - current period
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted

funds
2021
£
13,682
3
653,938
(280,019)
Restricted

funds
2021
£
817,693
-
63,059
-
880,752
Restricted
funds
2020
£
821,389
-
76,186
-
897,575
Total
funds
2021
£
831,375
3
716,997
(280,019)
387,604 1,268,356
Unrestricted
funds
2020
£
14,856
3
544,597
(184,763)		 Total
funds
2020
£
836,245
3
620,783
(184,763)
374,693 1,272,268

19. Analysis of net assets between funds

Page 54

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges 14
Investment income 7
Decease/ (Increase) in stocks 15
(Increase)/ Decrease in debtors 16
Increase/ (Decrease) in creditors 17
Net cash provided by/(used in) operating activities		 2021
2020
£
£
(3,912) (119,777)

36,780
32,040
(209) (1,377)
1,524 (4,391)
(50,092) 109,476
95,165 (4,155)
79,256
11,816

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents
586,568
539,013
586,568
539,013
  1. Analysis of Net Debt
At 1 April
 Cash flows At 31 March
2020 2021
£ £ £
Cash at bank and in hand 539,013 47,555 586,568

23. Pensions

The Charity contributes to some staff members' pension schemes. The assets of the schemes are held separately from those of the Charity in independently administered funds. The pension cost charge represents contributions payable by the Charity to these funds and amounted to £39,305 (2020: £35,787). The contributions outstanding at the year end amounted to £NIL (2020: £NIL).

Page 55

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

24. Related party transactions

Unrestricted donations were received from 1 Trustee amounting to £2,000 (2020: 2 Trustees amounting to £2,300).

There were no other related party transactions during either period.

25. Subsidiary undertakings

The Charity has two subsidiary undertakings:

4Change Enterprises Limited - a dormant company registered in England and Wales with registration number 09510925 and registered address: The Cricket Centre, Plough Lane, Wallington, Surrey, England, SM6 8JQ; and

Street20 Limited - a dormant company registered in England and Wales with registration number 05759598 and registered address: The Cricket Centre, Plough Lane, Wallington, Surrey, England, SM6 8JQ.

The two issued shares of Street20 Ltd amounting to £2 and one issued share of 4 Change Enterprises Ltd amounting to £1 are held by The Change Foundation.

Page 56