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← The Change Foundation

2025-03-31-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 2025

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Executive Committee and 1
Advisers
Executive Committees' Annual Report 2 - 20
Statement of Executive Committee's Responsibilities 21
Independent Auditor's Report on the Financial Statements 22 - 25
Statement of Financial Activities 26
Balance Sheet 27 - 28
Statement of Cash Flows 29
Notes to the Financial Statements 30 - 50

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS EXECUTIVE COMMITTEE AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Executive Committee Vicky Lowe, Chair
Helen Webster, Vice Chair
Steve Wootten
Rachel Billsberry-Grass
Asha Haji
Daniel Drury, Treasurer
Daniel Button (resigned 6 February 2025)
Tarun Patel
Luke Southall
Rebecca Martin
Company registered
number
03039017
Charity registered
numbers
1046047 and SC043569
Registered office
Cricket for Change Cricket Ground
Plough Lane
Wallington
Surrey
SM6 8JQ
Company secretary
Jean Stevens (appointed 1 April 2024) (deceased 11 March 2025)
Simon Masini Pullan (appointed 11 March 2025)
Chief executive officer
Andy Sellins (resigned 1 April 2025)
Navjeet Sira (appointed 1 April 2025)
Independent auditor
David Boosey BA (Hons) FCA
Senior Statutory Auditor
MHA
Regus House
41 London Road Castle Court
Reigate
United Kingdom
RH2 9RJ
Bankers
HSBC Bank Plc
The Helicon
1 South Place
London
EC2M 2UP

Page 1

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

1. A message from our incoming CEO

Stepping into the role of CEO from our founder, Andy Sellins, is the greatest privilege of my career. I first joined The Change Foundation in 2010 as a volunteer coach, and today, leading this remarkable charity is a true honour. My journey is a testament to the power of this organisation’s culture, one built on belief, transformation, and opportunity. It’s also a reflection of the extraordinary people who are the beating heart of The Change Foundation.

This past year has been one of the most pivotal in our charity’s history. Not only did we navigate a leadership transition, but we are proud that our workforce became 100% equity-led. We define equity-led as being led by people who have personal experience with the issues our charity addresses and the communities we serve. This places the lived experiences of the vulnerable communities we support at the centre of all we do. As one of the UK’s oldest sport for development charities, this evolution marks a significant milestone in our mission to transform lives through sport.

Highlights of an Extraordinary Year

From grassroots to global impact, our work this year has broken new ground:

Page 2

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

These stories represent just a fraction of the impact we’ve had this year. At its core, The Change Foundation is powered by a team of exceptional, committed, and passionate individuals. They are the heartbeat of the charity. They walk alongside the vulnerable people we serve, putting themselves second every time, and they are the true reason behind our continued success.

With Heartfelt Thanks

To our trustees, funders, partners, ambassadors, and supporters: thank you. Your belief in us never wavers. You give us the space to innovate, the confidence to act boldly, and the resources to keep going. We are deeply grateful and simply could not do this without you.

Looking Ahead

The future of The Change Foundation is rich with potential. We will:

In the coming months, I will lead the development of our next five-year strategy, and I invite everyone who believes in this mission to join us in writing this bold new chapter. Young people’s lives are more complex than ever, and so our vision must be equally ambitious.

Sport is just the beginning. Together, we change systems, break cycles, and help young people and communities realise their power.

Navjeet Sira, CEO

~~*—CO__|~~ 2. Our mission

The Change Foundation is an award-winning charity, that was founded in 1981, following the Brixton Riots in south London, where it used cricket as a tool to promote community cohesion and peace during a conflict at the heart of the local community. For 44 years we have pioneered the use of sport for social change programmes, helping children and young people around the world, which are designed on three key objectives though sport: health, skills, and employment.

We achieve these objectives by providing life-changing daily programmes that combine sport, youth work, and social work for the most vulnerable communities. In inclusive and safe spaces, young people can access daily mentoring, both face-to-face and virtually, with inspiring Social Change Coaches. Every year we celebrate the achievements and stories of the amazing people we work with in The Change Foundation awards.

Our mission is to use sport to change the lives of marginalised young people. We deliver targeted, long-term, education interventions for the most vulnerable people in our communities though Social Change Coaches with first hand lived and learned experience, providing regular sport, personalised mentoring and work-related opportunities.

Page 3

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

We have three clear objectives:

  1. Improving health – laying the foundation for individuals to reach their full potential.

  2. Building skills – equipping people to make the most of life’s opportunities.

  3. Enhancing employability – enabling upward social mobility and long-term independence.

We’ve set these objectives in this specific order because we believe real, lasting change follows a natural progression. First, a person needs a strong foundation of physical and mental health. With that in place, they can begin to develop and grow their skills. And once those skills are established, meaningful employment becomes achievable.

This pathway reflects the journey we support at The Change Foundation, a step-by-step transformation that empowers individuals to create better futures.

3. Our approach

Believe in the power and potential of young people

We believe in young people even when they don't believe in themselves or feel unsupported elsewhere. Our approach is built on the following: listening, empowering, and creating new opportunities. We listen actively to truly hear their perspectives, challenges, and strengths. We then empower them by providing the tools, guidance, and safe spaces they need to develop new skills and build confidence. We open doors to new opportunities, helping them envision and achieve a brighter future. This integrated approach helps young people realise their worth and navigate life's challenges with resilience and self-belief.

We are inclusive to all

We are inclusive to all. This isn't just a statement; it's fundamental to our ethos and practice. We firmly believe that every young person deserves the opportunity to thrive, regardless of their background or circumstance, they will find a welcoming and supportive environment with us. We tear down barriers to participation, ensuring that our programmes are accessible and tailored to meet diverse needs. Our commitment is to support all and accept all, fostering a community where every individual feels valued, understood, and empowered to reach their full potential.

The true power of sport

We believe in the true power of sport from all our team’s experiences of sport and how it has changed their lives. We know that there is much more to sport than just the sport itself. It is our biggest tool in engaging young people through mentoring and acts as a first step towards real social change where young people can find a voice, purpose, and potential. For us, sport is just the beginning of this journey.

Being youth led is our focus

The young people we work with are not just participants in our programmes; they are the driving force behind them. We believe in their power to shape and deliver solutions that truly work for them and their communities. From the initial concept to implementation, young people are central to our design process. They identify the needs, share their insights, and co-create the programmes that serve them. The young people then help us deliver them back to their communities, becoming Social Change Coaches, inspiring other young people. This collaborative approach cultivates a sense of ownership, builds invaluable leadership skills, and amplifies the positive change effect across their networks.

Page 4

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

We value holistic support

Holistic support is woven into the very fabric of our programmes, ensuring every young person that we work with gains the skills and confidence to navigate their entire life journey. This means we don't just focus on one aspect of their development; we consider their complete well-being. Our programmes are intentionally built to provide comprehensive support, equipping young people with a broad range of capabilities. We foster emotional resilience and strong social connections We strive to create an environment where young people feel safe to explore, learn, and develop skills and confidence they need to thrive, no matter what comes their way.

Always looking forward to our next challenge

We are always looking forward to our next challenge the young people that we work with tell us what these challenges are, and we listen to them and react to their needs. We are always looking to innovate on how we support the young people that we work with. No challenge is too great for us to face, and by having this innovative approach, we can support all different groups of young people in ways that work for them.

We have a real commitment and sense of responsibility

Our commitment to social change is embedded in our DNA. It's the driving force behind everything we do, reflected in how we design, deliver, and evaluate our work. Through innovative sport for social change programmes, we go beyond traditional interventions. We strategically harness the power of sport, its ability to engage, inspire, and unite, to cultivate essential life skills, build resilience, promote inclusion. This integrated approach ensures that every participant's journey with us contributes to a broader movement for real social change.

4. From lived experience to lasting change: Our new equity-led future

With a shift in leadership this year, we are proud to announce that The Change Foundation is now a 100% equity-led organisation. This milestone is more than symbolic, it’s fundamental to our mission and the way we operate. Being equity-led means that our leadership and approach are deeply rooted in lived experience. We don’t just recognise the social issues and systemic barriers that young people face; we understand them firsthand. This allows us to engage more authentically, respond more effectively, and drive meaningful, lasting change in the communities we serve.

Our equity-led approach is built on three key pillars:

1. Lived experience as our driving focus

A key aspect of us being equity-led is the pivotal role of Social Change Coaches, all of which have lived or learned experiences of the issues that our young people face. Crucially, our programmes are designed by those with firsthand experience of young people's challenges. This direct insight ensures our solutions are rooted in reality and empower participants to drive meaningful change within their own lives and communities.

2. Tailored support, not one-size-fits-all

Another key to this is that we have a one size does not fit all approach. Our lived experience gives us the knowledge that not everyone starts off at the same point or has the same barriers that someone else might have, regardless of which one of our programmes they might access. This adaptability allows us to be completely flexible on how to help that person and how we can tailor the support they get as part of their unique experience.

Page 5

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3. We listen, learn, and react

We listen to our team who have lived through the social issues that our young people face today. Our innovation fund allows our team, and alumni of our programmes, to create and pilot-test new approaches, giving the people who know best the opportunity to create a programme to help those that are like them in a creative and innovative way.

Overall, being an equity-led organisation means we don’t just create opportunities — we confront and remove the barriers that keep young people from accessing them. Our commitment to justice and fairness ensures every young person, no matter their starting point, has the chance not just to grow, but to thrive. This approach empowers us to create deeper, lasting change — and we’re excited to share that journey.

5. Our new theory of change: The Change Effect

The Change Effect represents a fresh, dynamic approach to our Theory of Change. Inspired by the Butterfly Effect, a concept from chaos theory, it’s built on the idea that small actions can create powerful, far-reaching change over time.

The Butterfly Effect suggests that a tiny shift in a complex system, can eventually lead to a major impact. We see The Change Foundation in the same way: our targeted programmes, even if small at first, can significantly shift the direction of a person’s life.

The Change Effect is intentionally designed to be flexible and evolving. As we continue to develop new, innovative approaches to support vulnerable people, this model will grow and adapt alongside us, always rooted in the belief that lasting change often begins with a single, well-placed action.

Here is our new Theory of Change:

We see the reality

We work with people who are often overlooked, those navigating life without the support, access, or recognition they deserve. Their lived experiences include systemic challenges and personal struggles that can leave them feeling hopeless or invisible.

What they’re up against: Disability, no options, crime, violence, loneliness, social media addiction, discrimination, no support, childhood trauma, lack of skills, no self-respect, mental health challenges.

We listen and respond

We listen first. Then we co-create innovative, flexible programmes that respond directly to the evolving needs of young people. Our approach is rooted in empathy, trust, and understanding, because change starts with being seen and heard.

We walk the journey together

Young people tell us, and show us, that their lives are changing. Sport gives them focus, motivation and the chance to try, fail, and grow, together. Through consistent relationships with Social Change Coaches who truly understand their journeys, they begin to rebuild confidence, imagine new futures, and take meaningful steps forward.

What starts to shift: Ambition, confidence, creativity, support network, role models, real options, acceptance, healing, becoming a Social Change Coach.

Page 6

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

We build for life

The change doesn’t end when the programme does. Young people leave with stronger foundations, deeper selfbelief, and a lasting network they can rely on, tools they carry into future challenges and opportunities.

6. Our impact measurement process

We use a mixed-methods approach to capture both the data and the context behind the change we create. Each element is vital in building a complete picture of our impact:

Baseline data collection: We collect key demographic and background information from young people at the start of their journey. This helps us understand who we're reaching and how we can best support them.

Interactive surveys: Co-designed with our Alumni and delivered during sessions, these surveys gather programme-specific feedback without disrupting valuable contact time. They ensure young people’s voices are heard and help us assess direct impact.

Coach observations: Our Social Change Coaches draw on lived experience to provide meaningful, real-time insights. Their observations add depth and context to survey data, helping us interpret the real-world impact on young people.

Stories of change: Each year, we compile personal stories from young people with informed consent, to highlight the human impact of our programmes, powerful narratives that go beyond the numbers.

Long-term tracking: We maintain trusted relationships with young people to follow their progress over time. This not only helps us measure sustained impact but also identify those who may need continued support.

Social Return on Investment (SROI): We are developing an SROI framework to quantify the broader economic and social value of our work within communities.

7. Our Impact this year

Empowering young people and strengthening local communities

In the past year, The Change Foundation has supported a total of 1,548 vulnerable individuals across our programmes, from at-risk young people to older adults in our local community. This reflects our commitment to intergenerational change, rooted in lived experience and community connection.

Supporting young people

We worked with 1,381 young people through a combination of long-term programmes, community events, and mentoring support:

Page 7

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Our young people reflect the diversity of the communities we serve:

We worked in partnership with:

Engaging older adults in our community

In our South London headquarters' local area, we continued to run our Active Aging programme, supporting 167 people aged 50 and over through accessible sport and social activities:

All of our Active Aging participants live locally in Sutton, where our deep community roots allow us to provide consistent, meaningful support.

Together, across generations, we are creating a ripple effect of change, building stronger individuals, stronger communities, and a stronger future.

8. Our programmes

Over the past year, The Change Foundation has delivered 15 targeted programmes, reaching 1,548 young people and older adults. Each programme is tailored to meet the unique needs of vulnerable groups, empowering individuals through sport, mentoring, education, and community connection.

Programme Aim Number of
Young
people		 Impact
Street Elite Street Elite is a training-for-work
programme that uses sport to engage
18–25-year-olds affected by crime,
violence, and inequality, moving them
from NEET status into employment,
education, or training.		 125 107 young people
transitioned into EET with a
record-breaking 86%
success rate.
London
Futures		 London Futures supports young
Londoners living with a disability to find
long term employment opportunities.		 15 Achieved a 54% success
rate into sustained EET.
Fencing 4
Change		 Fencing 4 Change uses the art of fencing
to reduce the risk of social isolation and
improve gross and core motor skills for
young people aged 11-16 with autism
spectrum disorder.		 126 89% improved motor skills;
80% increased empathy
and emotional
understanding.

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Adapted sport Provides physical activity access for
young people with complex disabilities in
day centres.		 40 In year one, saw a 60%
increase in physical activity
despite severe mobility
barriers.
Netball 4
Change		 12-week programme that teaches
vulnerable and at-risk girls and young
women about social media safety and
digital resilience through netball.		 122 80% improved
understanding of online
safety, privacy, and digital
responsibility.
12 Rounds 12-week anti-knife crime education
programme for primary and secondary
school children. It uses boxercise, self-
defence, and boxing to teach about the
dangers and impact of carrying a knife.		 106 90% reduced belief in the
need to carry a knife for
safety, a key attitude shift.
Ukraine
Refugee
sports Camp		 Supports Ukrainian refugee families
through holiday sports camps.		 30 families Built peer friendships and
confidence; helped young
people improve English and
adapt to life in the UK.
Golf 4
Change		 Golf 4 Change uses the values of golf
and golf club networks to support young
people to fulfil their potential and enter
employment.		 55 80% progressed into
education, employment or
training.
Rugby 4
Change		 12-week programme that uses touch
rugby to educate children and young
people about county lines drug gangs and
street safety. Delivered by expert Social
Change Coaches with lived experience,
the curriculum culminates in a festival
celebrating learning and reinforcing
safety messages.		 119 90% increased awareness
of gangs and how to seek
help when approached.
Young Mums
Sports
Network		 Supports young mothers (and their
children aged 1–5) through physical
activity and outdoor sessions, improving
their wellbeing and confidence.		 45 88% now have access to a
safe, supportive community
space enabling their growth
and improved health.
Mind Coach
Project		 Mind Coach is designed to address the
critical gap in mental
health support within vulnerable
communities, particularly for young
people who face barriers
to accessing mental health services.		 21 Offered vital mental health
support to both young
people and staff, informing
future strategy of integrated
mental health support at the
charity.
Cricket 4
Change		 Cricket 4 Change uses the power of
Cricket to work with young refugees and
child asylum seekers providing them with
a safe space to play cricket and integrate
into their new environment.		 37 Weekly sessions created
routine, belonging, and
support for new arrivals.
VI Rugby Builds and provides visually impaired (VI)
rugby as an inclusive sport through
specialist training and supports local club
development.		 11 Developed a new VI Rugby
club in Southport and
transitioned Sutton &
Epsom to community
ownership.
Change the
Game not the
Girl		 Challenges barriers to female
participation in sport for those who feel
they do not belong, through coaching,
confidence-building, and adapted sport.		 100 Delivered 10 workshops;
boosted confidence,
leadership, and life skills for
girls and young women.

Page 9

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Active Aging Active Aging works with people aged 50
and over, using the power of Walking
Sports to engage them in a local
community programme.		 167 95% improved fitness and
mental wellbeing; strong
community bonds reduced
loneliness.

Looking ahead: Expanding impact through innovation and inclusion

As we continue delivering our core programmes next year, we're also proud to launch and relaunch a series of new and returning initiatives. Each of these has been shaped by the evolving needs of the communities we serve, combining lived experience, innovation, and a commitment to inclusive growth.

TCF United: Creating community and opportunity for young disabled people

Target: 20 young people

A returning initiative, TCF United is a youth club for 16–25-year-olds with disabilities, run from our charity HQ. It offers a safe, supportive space to connect, try new activities, and build community. With guidance from Social Change Coaches, members will receive tailored support, from job prep to benefit access, alongside building lasting friendships and greater independence.

Walk 4 Change: Reconnecting young people with complex needs to nature, one step at a time

Target: 40 young people

Walk 4 Change is a new project tackling inactivity among young people with multiple impairments. Through guided walks and safe, accessible routes, we aim to boost physical confidence, encourage independence, and help participants feel safer and more empowered in their everyday lives.

Tennis Talk: Using tennis to serve up conversations around mental health

Target: 800 young people

Tennis Talk combines the benefits of tennis with the principles of talking therapy to break the stigma around mental health. Alongside improving physical wellbeing, the programme supports young people in understanding and managing their mental health, promoting long-term resilience and open dialogue. Following a successful pilot, the programme is set to expand nationwide over the next three years.

Queer Sports and Support: Creating safe spaces for LGBTQIA+ people through sport and solidarity

Target: 25 people

Co-designed by queer individuals for their community, Queer Sports and Support provides access to inclusive sport, peer connection, and tailored support. The programme addresses the lack of safe spaces for LGBTQIA+ people, focusing on improving both physical and mental health through community and play.

Play 4 Change: Laying strong foundations for children aged 0–5 and their families

Target: 100 children and parents

Play 4 Change supports families from marginalised communities by improving early childhood development through play. It focuses on enhancing motor, communication, and problem-solving skills, while also building parental confidence and strategies for home learning, ensuring every child has the best possible start in life.

Page 10

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

These new and returning initiatives demonstrate our ongoing commitment to evolving with the needs of the communities we serve. From early childhood to young adulthood, and from disability support to mental health and LGBTQIA+ inclusion, we’re building a future where no one is left behind, and where sport, connection, and care remain at the heart of every programme.

9. Stories of Change

We’re proud to share this year’s Stories of Change, powerful, personal accounts that highlight the real-life impact of our programmes. Each story was captured by Chad Mace, our charity storyteller, who spoke directly with the young people to hear, in their own words, how The Change Foundation has shaped their journey.

Story of Change One: Extraordinary, Passionate, Forward-Thinking

I’m 20, I’m from Neasden in Northwest London and I’m an aspiring actor. From a young age I’ve always loved acting, I love the concept of playing a different character and it’s something I’ve always had a passion for. I’m currently at the Kingdom Drama School where I’m aspiring to a career in acting on-screen, and The Change Foundation helped me get to where I am today.

I first met The Change Foundation through The Change Foundation podcast where me and my friend would talk about loads of different things from football to culture stuff, like growing up in London, and growing up in certain areas like gentrified areas. I then met Dean who liked my personality and how I came across and so recruited me to Street Elite.

The Street Elite Cup really stands out to me from my time on Street Elite. It was such a big occasion because it wasn’t just about the football, it was about bringing people together. Certain people there could have been out on the road doing stupidness but having a safe space to express yourself, as well as having loads of future opportunities like work experience meant that they weren’t and that made it a really special event that’ll always have a place in my heart.

My Social Change Coaches have really helped push me to be more confident and outspoken and they’ve given me the confidence to really express myself and show people my talent and what I’m capable of. Since being on Street Elite, it’s given me a different perspective on life and it’s helped me to learn things I didn’t even know it was possible to learn through my Beagle Media work experience, like what it takes to create a show or documentary. They also helped me with a couple of instalments of funding for drama school as I wasn’t in the best financial situation at the time of my auditions. The coaches and Street Elite have helped to elevate me as a person, not just with the skills I need to be an actor.

If I was to pick three words to describe The Change Foundation it would have to be extraordinary , for how quickly they change you as a person and the links they’ve got to help you in your career. Passionate , because you can feel the desire of the mentors to consistently want to help us and to make sure you do well, and forward-thinking , because they never look to the past, instead they ask where do you see yourself in five years and they help you achieve that.

Story of Change Two: Amazing, Supportive, Community

I’m 12 years old, I live in Surrey, and I have Autistic Spectrum Disorder (ASD), which is how I met The Change Foundation. They were running fencing training at my school, so I signed up to join Fencing 4 Change. At first, I wasn’t sure if fencing was going to be something I enjoyed, but now I’m really passionate about it and I find it really interesting to learn about the rules of fencing and how it is done in tournaments and competitions.

The best part of my time on Fencing 4 Change is feeling accepted by the Fencing 4 Change community. Despite being one of the only girls, the community is really supportive, and I’m always encouraged and praised to keep on going. This makes it feel more supportive than a mainstream fencing club.

Page 11

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

I’ve changed a lot as a person since joining Fencing 4 Change. My posture is so much better, and I’ve really improved as a fencer, to the point that I’m even fencing the coaches as I really enjoy fencing people of the same or better ability. This has taught me that I can give things a go, even if I may fail. As I’ve improved at fencing, I’ve also become more competitive and I love to win, but it has also taught me that winning doesn’t always matter.

If I had to describe Fencing 4 Change and The Change Foundation in three words, I would choose amazing , supportive , and community . They’ve given me a love of fencing so that I now want to pursue a career in fencing and I want to compete at the elite level like the Olympics. Before Fencing 4 Change and The Change Foundation coaches, I never thought about being a professional fencer, but now I’m desperate to. If I was to recruit a young person to The Change Foundation, I’d tell them that it is a supportive community where you can be yourself, have fun, and learn lifelong skills.

Story of Change Three: Comfortable, Life-Changing, Opportunities

I’m 19 and I’m from Southwark. I grew up around Peckham before moving to the Aylesbury Estate. Last year, my friend was shot and killed. It was traumatic, but Golf 4 Change and The Change Foundation have helped me to deal with it and bought me happiness.

I first met The Change Foundation through Street Elite, back in 2023. I was going to kick a ball around with a few friends after sixth form and we ran into Dean and Dan. They said they’ll coach us and pay us £20 to come to a session, but it was the coaching that really intrigued me, which is how I joined Street Elite. After finishing Street Elite, I still wanted to come to sessions so I signed up for Golf 4 Change.

I was new to golfing, I didn’t know anything about the rules or even how to swing a club, but after a few sessions I started to get into it. I always thought golf looked quite quiet and boring, but it can actually be fun and I’ve actually been enjoying golf. The best part of the programme is that it brings people from different boroughs together. A lot of these people you’d never think of speaking with, but through Golf 4 Change and The Change Foundation, you become quite close. Everyone has an understanding of each other and can relate to it, which makes it easier to get along.

The coaches helped me to realise there’s more to learning than school. Through their one-to-one coaching, I felt like I was actually learning something and that made me want to learn more. They’ve also taught me that there’s always someone you can rely on. When my friend was shot, I felt comfortable being able to talk to Dan. That human-to-human conversation gave me a peace of mind which stopped me going crazy or doing something stupid.

I think I’ve changed a lot since being on Golf 4 Change. I’m not a social person but I make everyone laugh. Being on Golf 4 Change, it’s a social sport, and I’m talking to people all the time. It’s made me more comfortable talking to people. I think it will help me in my future because at first, when people meet me, they sometimes think I’m scary but when they get to know me, I’m actually a nice, reasonable person. It’ll help me when coming to get a job as now I’m more comfortable talking to people, when it comes to interviews, they’ll be able to get a better understanding of me.

I’d describe Golf 4 Change and The Change Foundation as Comfortable , more than anything else. It helped me be more comfortable around more people and be comfortable to talk about deep things. I’d say life-changing , because you become close with people that you’d never even think of interacting with outside of The Change Foundation. It also provides opportunities , like going to Legal and General, where I learnt more in a week and was treated like more of an equal, than I ever was in school. Story of Change Four: Fun, Caring, Amazing

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THE CHANGE FOUNDATION (A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

I’m 22, I live in a Mother and Baby unit in Abbeywood and I have a two year old girl. Being both a young mum and a care leaver is a bit of a rollercoaster, particularly due to social services. As soon as I was pregnant, social services got involved and told me I couldn’t be a mum because I had been through the care system, they don’t even give you a chance to show you can be a good mum. I’m in court currently fighting to keep my daughter with me so she doesn’t end up in the care system herself. That’s why the Young Mums Sports Network is so important to me.

I don’t have a lot of support but the Young Mums Sports Network, and particularly the coaches, have become like a family for me. They ask me how I am, what’s going on, and I can be open with them about everything that is going on at home. With court being so difficult at the moment, I can have a conversation with them about it, and they help me process it and work it through. I feel like I have that family connection, it’s like having a big sister. Even for my daughter, the Young Mums Sports Network supports her. While I’m in the session, the childminders are playing with her, running around with her, and she’s comfortable with them which is really nice.

Before the Young Mums Sports Network, I found being around people and groups of people really difficult because I was scared of being judged. I’m very shy and I worried that if I wasn’t talking or being involved, people would judge me for it. Since I’ve joined the network, I’ve become less shy and I’m willing to try new things. It’s helped me understand that people don’t automatically judge me for being quiet, and often, they actually want to help. In group activities, I’ll interact and participate, and it’s given me the confidence to do new things which I wouldn’t have before. Now, I take my daughter swimming every Wednesday and it’s a nice activity for us to do together which is good for both of us.

If I had to describe Young Mums Sports Network and The Change Foundation in three words, I would choose Fun , Caring , and Amazing . Their support has inspired me to want to become an advocate for people that have been in care and are now going through the care system with their own child. I want to be able to go with them and show them that no matter what, everything you do is for a reason and you’re never going to be alone. At first, I would have never thought of doing this, of meeting new people and talking to them, but now it’s my dream.

I’d say to any young person joining The Change Foundation that it's amazing. You learn new things every time you go and it's like a massive family.

Story of Change Five: Fun, Engaging, Exciting

I’m 20 and I’m part of the Tower Hamlets Street Elite female cohort. I live in Waltham Cross, on the border between London and Hertfordshire, and every Wednesday I travel over an hour to make it to the Tower Hamlets session. After being hospitalised in my first year of university, I couldn’t continue my studies, and I didn’t finish my degree. It really took a toll on my mental health, and I was in therapy for a while. With the help of Street Elite and The Change Foundation, I’m trying to get back into the motion of work and work opportunities so I can become a Project Manager in Construction.

I first met Street Elite through Hannah and Heidi. I was at the Westfield Centre in Stratford, and they approached me to tell me about Street Elite. The way they incorporated different elements of sport into the programme really spiked my interest as sport is something I’ve been trying to get myself back into.

There’s not a lot of clubs or support around where I live, so having somewhere to go where I can meet new people from different areas and talk about our different interests has been my favourite part of Street Elite. Last week, after our gym session, we sat down and did a session on our CV’s and discussed our different experiences around CVs and applying for jobs. Activities like that where we get to talk about our different experiences and I can surround myself with people that I don’t normally get to, are really valuable to me, particularly since being on the programme.

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(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The coaches are very, very engaging and I think it’s because they make themselves so easy to talk to. If there’s any issues or anything, they always make it known that we can come to them and we can talk to them about anything. They’re also really reliable, I know that whether it’s over the phone or in person, I can rely on them to help me.

During the first month of Street Elite, we did a construction site visit, which was really beneficial, as I could talk to different people on the site, ask them questions about what was going on, and get their email addresses. Opportunities like that helped set in stone in my mind what I wanted to do. The other activities, like the gym sessions, have built on my skills like teamwork, communication, and working with different people have definitely helped too.

Fun, engaging, and exciting is how I’d describe Street Elite and The Change Foundation. Being able to go each week and being a part of something which motivates you is really engaging. It’s exciting because we do new things every session and the sports make it fun too. I’d tell a young person joining The Change Foundation that they're guaranteed to be surrounded by good people and good energy. There's something different and something new to look forward to every single time that you're there, which really fulfils you and helps your own personal growth.

10. Everyone’s talking about Change

Here’s a look at how our work has been recognised in the media over the past year, showcasing the impact, innovation, and voices behind our programmes:

VI Rugby was mentioned by The University of Portsmouth as a student was selected to represent England in VI Rugby: https://www.port.ac.uk/news-events-and-blogs/news/portsmouth-student-selected-to-represent-englandin-vi-rugby

Children and Young People Now wrote a feature on Street Elite, titled “Sport provides springboard to work”: https://www.cypnow.co.uk/content/best-practice/sport-provides-springboard-to-work/

12 Rounds and Netball 4 Change was discussed in the Hello Magazine when the Duke of Westminster and Olivia Henson made their first public appearance since their wedding, at one of our sessions: https://www.hellomagazine.com/royalty/737322/duke-of-westminster-olivia-henson-first-public-appearancewedding/

Street Elite was mentioned in the SWLondoner for our Street Elite Festival in Ealing: https://www.swlondoner.co.uk/sport/28062024-bright-futures-beckon-for-ealing-street-elite-graduates

VI Rugby was mentioned in the SWLondoner for the Alex Bassan Cup between England, Ireland, and Japan, which England went on to win: https://www.swlondoner.co.uk/sport/21112024-englands-visually-impaired-rugbyteam-aim-for-more-glory-in-sutton

ITV Interviewed VI Rugby player, Lee Robshaw, ahead of the Alex Bassan Cup: https://www.youtube.com/watch?v=YaXlIVAqr_I

Our Ukraine Refugee Sports Camp was subjected to a feature on the six o’clock news of BBC Southeast Today: https://www.bbc.co.uk/programmes/m001ycy5

A member of our Alumni, Layyah 'Generational talent', was crowned The Rap Game UK winner on the BBC news: https://www.bbc.co.uk/news/articles/cvg6lgvlj20o.amp

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11. Our partners and supporters

Thank you to all our supporters and partners, your commitment has made our work possible. This past year, your support has been instrumental in helping us create meaningful change in the lives of young people. We couldn’t do it without you.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 5th March 2014. The Charity has one subsidiary undertaking – 4Change Enterprises Limited. It did have another Street20 Limited which was dissolved on 22 August 2023.

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 currently has an eleven person 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.

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(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 Trustee Board 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.

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 IT policy.

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.

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(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

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 Head of Finance 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 RaG in consultation with the Head of Finance, whose own salary is reviewed by the CEO.

Staff & Trustee Development

Our team are 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:

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(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 has included a session on Safeguarding within the context of the Charity’s operations.

13. Financial Review

Financial Review statement

The results of the year’s activities are set out in the attached financial statements. The Charity’s total income for the 2024/25 financial year was £1,268,386 (2024: £1,375,367), while total expenditure was £1,329,748 (2024: £1,432,186), resulting in a deficit of £61,362 (2024: £56,819 deficit).

Unrestricted income totalled £547,988 in the year, which is slightly lower than the prior year (2024: £577,699). Unrestricted income included £157,563 from general donations (2024: £115,039); Charitable activities at the Cricket Centre and Indoor School were up at £91,854 (2024: £157,033); £271,219 from fundraising events and the Cricket Centre bar and facility income (2024: £282,672). £20,356 was gained from investment income (2024: £22,955) due to prudently investing some free reserves into the money market and the favourable movement in the interest rates receivable. Unrestricted expenditure totalled £587,784 in the year ended 31 March 2025 (2024: £552,370) which is an increase of £35,414 or 6.4%. This resulted in an unrestricted deficit of £39,796.

Restricted income totalled £720,398 in the year, which is at a similar level to the prior year (2024: £797,668). Total restricted expenditure was £741,964 (2024: £879,816), an decrease of 137,852 or 15.7%. This meant deficit of £21,566 (2024: £82,148 deficit) in restricted activities.

Total funds at the close of the 2024/25 financial year were £1,113,815 (2024: £1,175,177), composed of £687,930 (2024: £709,496) restricted reserves and £425,885 (2024: £465,681) unrestricted reserves. The restricted reserves are represented by the Cricket Centre, Indoor School facilities and the Urban and Disability Programmes. The unrestricted reserves consist of the designated Innovation Fund balance of £21,605 (2024: £22,822), the designated Fixed Asset Fund of £16,970 (2024: £28,729) and general funds (free reserves) of £387,310 (2024: £414,130).

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 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. 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 £340,000 – which is equivalent to around 3-4 months’ worth of the Charity’s normal operating expenditure. The actual free reserves level at 31 March 2025 was £387,310 (2024: £414,130).

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 ‘About us’ earlier in this document.

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

EXECUTIVE COMMITTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14. Final words from our Head of Impact

My name is Daniel Mynott, and I’m proud to introduce myself as the newly appointed Head of Impact at The Change Foundation. My journey with this charity began 13 years ago as a young participant in our disability programme, Hit the Top. The Change Foundation quite literally changed my life, and now, I have the privilege of showing the world just how deeply it continues to change the lives of others.

This year’s report reflects more than numbers. It tells the story of transformation, of young people overcoming barriers through sport, mentorship, and community. It shows what’s possible when lived experience drives the design of programmes, and when those who’ve walked the path are empowered to lead others.

As we look ahead, I’m excited to evolve how we measure and share our impact. With your continued support, we’ll ensure every story, every step forward, and every breakthrough is seen, valued, and celebrated.

To all our partners, funders, and supporters: thank you. Your belief in us fuels everything we do. We look forward to another year of bold, inclusive, and high-impact social change.

Thank you for reading our annual report and for being part of this journey.

15. Disclosure of information to the auditors

The trustees of the charity who held office at the date of approval of these Financial Statements confirm, so far as we are aware, that:

16. Auditors

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP

MHA will be proposed for reappointment in accordance with section 144 of Charities Act 2011.

................................................

Vicky Lowe Chair Date: 8th December 2025

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

STATEMENT OF EXECUTIVE COMMITTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

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 . 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 the Companies Act 2006. 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 and signed on its behalf by:

................................................ Daniel Drury Treasurer Date: 8th December 2025

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THE CHANGE FOUNDATION (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S 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 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Executive Committee's 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 Executive Committee with respect to going concern are described in the relevant sections of this report.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Executive Committee are responsible for the other information contained within the Annual Report. 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.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Executive Committee's Responsibilities Statement, the Executive Committee (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 Executive Committee 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 Executive Committee 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 Executive Committee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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THE CHANGE FOUNDATION (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

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

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

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THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHANGE FOUNDATION (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

David Boosey BA (Hons) FCA Senior Statutory Auditor for and on behalf of MHA, Statutory Auditor Reigate, United Kingdom

Date: 10 December 2025

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

Page 25

THE CHANGE FOUNDATION (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations
4
Charitable activities
5
Trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
157,563
98,850
271,219
20,356
547,988
224,323
363,461
587,784
(39,796)
465,681
(39,796)
425,885		 Restricted
funds
2025
£
7,473
697,434
15,491
-
720,398
10,938
731,026
741,964
(21,566)
709,496
(21,566)
687,930		 Total
funds
2025
£
165,036
796,284
286,710
20,356
1,268,386
235,261
1,094,487
1,329,748
(61,362)
1,175,177
(61,362)
1,113,815		 Total
funds
2024
£
172,898
874,118
305,396
22,955
1,375,367
220,338
1,211,848
1,432,186
(56,819)
1,231,996
(56,819)
1,175,177

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 30 to 50 form part of these financial statements.

Page 26

THE CHANGE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03039017

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
14
Investments
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current assets
Net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 2,279
72,483
846,331
921,093
(501,005)		 2025
£
693,726
1
693,727
420,088
1,113,815
687,930
425,885
1,113,815		 2,163
106,119
682,924
791,206
(350,441)		 2024
£
734,411
1
734,412
440,765
1,175,177
709,496
465,681
1,175,177

Page 27

THE CHANGE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03039017

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

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 and signed on their behalf by:

................................................

Daniel Drury Treasurer Date: 8th December 2025

The notes on pages 30 to 50 form part of these financial statements.

Page 28

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Investment income
7
Net cash provided by 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		 2025
£
143,051
20,356
20,356
163,407
682,924
846,331		 2024
£
(12,590)
22,955
22,955
10,365
672,559
682,924

The notes on pages 30 to 50 form part of these financial statements

Page 29

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

Page 30

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

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

Page 31

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Expenditure recognition (continued)

All expenditure is inclusive of irrecoverable VAT.

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:

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 32

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue.

The Executive Committee have made this assessment for a period of one year from the date of the approval of these financial statements. The Executive Committee have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. 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 33

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

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

Unrestricted
funds
2025
£
General donations
157,563
Unrestricted
funds
2024
£
General donations
115,039		 Restricted
funds
2025
£
7,473
Restricted
funds
2024
£
57,859		 Total
funds
2025
£
165,036
Total
funds
2024
£
172,898

Page 34

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from charitable activities

Unrestricted
funds
2025
£
Disability
3,996
Urban
3,000
Cricket Centre and Indoor School
91,854
Total 2025
98,850
Unrestricted
funds
2024
£
Disability
-
Urban
-
Cricket Centre and Indoor School
157,033
Total 2024
157,033		 Restricted
funds
2025
£
208,446
480,677
8,311
697,434
Restricted
funds
2024
£
160,754
556,331
-
717,085		 Total
funds
2025
£
212,442
483,677
100,165
796,284
Total
funds
2024
£
160,754
556,331
157,033
874,118

Page 35

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Income from other trading activities

Unrestricted
funds
2025
£
Facility hire
26,902
Bar income
32,616
Fundraising events
188,025
Other income
23,676
Total 2025
271,219
Unrestricted
funds
2024
£
Facility hire
22,539
Bar income
26,709
Fundraising events
223,796
Other income
9,628
282,672		 Restricted
funds
2025
£
-
-
15,491
-
15,491
Restricted
funds
2024
£
-
-
12,408
10,316
22,724		 Total
funds
2025
£
26,902
32,616
203,516
23,676
286,710
Total
funds
2024
£
22,539
26,709
236,204
19,944
305,396

Page 36

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Income from investments

Unrestricted
funds
2025
£
Bank interest receivable
20,356
Unrestricted
funds
2024
£
Bank interest receivable
22,955		 Total
funds
2025
£
20,356
Total
funds
2024
£
22,955

Page 37

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Expenditure on raising funds

Direct costs
Direct costs
Support costs
Overheads
Premise costs
Website, advertising and publications
Legal, professional and consultancy fees
Governance costs
Staff costs
Depreciation
Other staff costs		 2025
£
197,838
197,838
5,975
3,439
416
639
3,590
10,333
11,759
1,272
37,423
235,261		 2024
£
141,545
141,545
29,943
2,385
1,507
2,110
3,219
17,115
11,759
10,754
78,792
220,337

£10,938 (2024 - £Nil) of the above costs were attributable to restricted funds. £224,323 (2024 - £220,337) of the above costs were attributable to unrestricted funds.

Page 38

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure on charitable activities - by fund

Unrestricted
funds
2025
£
Disability
-
Urban
22,700
Cricket Centre and Indoor School
42,613
Other Charitable Activities
298,148
Total 2025
363,461
Unrestricted
funds
2024
£
Disability
-
Urban
93,914
Cricket Centre and Indoor School
23
Other Charitable Activities
238,095
Total 2024
332,032		 Restricted
funds
2025
£
223,957
478,139
9,638
19,292
731,026
Restricted
funds
2024
£
156,940
692,949
29,927
-
879,816		 Total
2025
£
223,957
500,839
52,251
317,440
1,094,487
Total
2024
£
156,940
786,863
29,950
238,095
1,211,848

10. Analysis of expenditure by charitable activities - by type

Disability
Urban
Indoor School
Other Charitable Activities		 Activities
undertaken
directly
2025
£
206,189
465,919
39,171
227,723
939,002		 Support
costs
2025
£
17,768
34,920
13,080
89,717
155,485		 Total
funds
2025
£
223,957
500,839
52,251
317,440
1,094,487

Page 39

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Analysis of expenditure by charitable activities - by type (continued)

Disability
Urban
Indoor School
Other Charitable Activities		 Activities
undertaken
directly
2024
£
106,502
533,978
29,950
161,576
832,006		 Support
costs
2024
£
50,438
252,885
-
76,519
379,842		 Total
funds
2024
£
156,940
786,863
29,950
238,095
1,211,848

Analysis of support costs

Staff costs
Depreciation
Overheads
Premises costs
Website, advertising and publications
Legal, professional and consultancy fees
Governance costs
Other Staff Costs		 Total
funds
2025
£
58,554
1,425
33,981
19,443
2,354
11,155
20,341
8,232
155,485		 Total
funds
2024
£
96,982
-
169,671
13,516
8,539
11,957
18,243
60,934
379,842

We have reviewed the analysis of these costs during the current year and revised the allocation between categories to better reflect the nature of the expenditure. We have not adjusted the analysis of the prior year's costs.

Page 40

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Governance costs

Auditors' remuneration - Audit of the financial statements
Auditors' remuneration - Prior year Audit fees under/(over) provision
Auditors' remuneration - Accounts preparation		 2025
£
16,884
3,087
3,960
23,931		 2024
£
16,080
1,602
3,780
21,462

Governance costs of £23,931 (2024 - £21,462) are represented by £20,341 (2024 - £18,243) expenditure on charitable activities and £3,590 (2024 - £3,219) of expenditure on raising funds.

12. Executive Committee's remuneration and expenses

During the year, no Executive Committee received any remuneration or other benefits (2024 - £NIL) .

During the year, no Executive Committee member received any benefits in kind ( 2024 - £NIL )

During the year ended 31 March 2025, there were no expenses reimbursed or paid directly to Executive Committee members (2024 - £90 to 1 Executive Committee) .

13. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
£
637,325
58,804
41,587
737,716		 2024
£
767,737
54,447
39,176
861,360

Page 41

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Staff costs (continued)

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

Raising funds
Urban
Disability
Cricket Centre
Support
The average headcount expressed as full-time equivalents was:
Raising funds
Urban
Disability
Cricket Centre
Support		 2025
No.
4
9
3
11
3
30
2025
No.
3
8
4
1
2
18		 2024
No.
3
14
3
7
4
31
2024
No.
2
8
3
-
1
14
The number of employees whose employee benefits (excluding employer pension costs) The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2025 2024
No. No.
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 1 1

The total amount of employee benefits received by Key Management Personnel is £303,155 (2024 - £345,227). The Charity considers its Key Management Personnel comprise:

The Trustees (Executive Committee Members) Chief Executive Officer Director of Design and Impact Corporate Services Director Head of Finance Head of Business Development Head of Programmes

Page 42

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Tangible fixed assets

Cost or valuation
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
964,600
964,600
404,120
19,292
423,412
541,188
560,480		 Long-term
leasehold
property
£
289,329
289,329
144,127
9,635
153,762
135,567
145,202		 Short-term
leasehold
property
£
110,202
110,202
98,903
9,158
108,061
2,141
11,299		 Fixtures and
fittings
£
25,999
25,999
8,569
2,600
11,169
14,830
17,430		 Total
£
1,390,130
1,390,130
655,719
40,685
696,404
693,726
734,411

The Cricket Centre comprises of 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 Plough Lane land, is also restricted as to its use.

15. Stocks

==> picture [448 x 35] intentionally omitted <==

----- Start of picture text -----
2025 2024
£ £
Bar stock 2,279 2,163
----- End of picture text -----

Page 43

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Debtors

Due within one year
Trade debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Bank overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 March		 2025
£
11,000
61,483
72,483
2025
£
851
34,639
17,223
-
448,292
501,005
2025
£
303,593
419,659
(303,593)
419,659		 2024
£
82,682
23,437
106,119
2024
£
-
6,047
16,510
249
327,635
350,441
2024
£
266,568
303,593
(266,568)
303,593

17. Creditors: Amounts falling due within one year

Deferred income in the year relates to grants that have been received in the year but relate to the next year.

Page 44

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 2024
£
28,729
22,822
51,551
414,130
465,681
560,480
145,202
3,814
-
709,496
1,175,177		 Income
£
-
-
-
547,988
547,988
8,308
-
228,063
484,027
720,398
1,268,386		 Expenditure
£
(11,759)
(1,217)
(12,976)
(574,808)
(587,784)
(19,292)
(9,635)
(229,010)
(484,027)
(741,964)
(1,329,748)		 Balance at
31 March
2025
£
16,970
21,605
38,575
387,310
425,885
549,496
135,567
2,867
-
687,930
1,113,815

Page 45

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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).

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 Cricket 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

Funding for projects that improve the lives of people with a disability remains a priority for The Change Foundation.

Urban Programmes

The fund is for projects that improve the lives of young people from ‘at risk’ and disadvantaged backgrounds in addition to walking sports provided at the Centre for local residents over the age of 50. Our charitable interventions are delivered using creative sport-based methodologies involving sports such as cricket, rugby, netball, boxing, dance and e-sport.

Page 46

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Statement of funds (continued)

Statement of funds - prior year

Designated funds
Fixed Asset Fund
The Innovation Fund
Unrestricted funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
The Cricket for Change Centre
Indoor Cricket School
Disability Programmes
Urban Programmes
Total Restricted funds
Total of funds		 Balance at
1 April 2023
£
40,488
35,050
75,538
364,814
440,352
579,772
154,837
-
57,035
791,644
1,231,996		 Income
£
-
-
-
577,699
577,699
1,000
-
160,754
635,914
797,668
1,375,367		 Expenditure
£
(11,759)
(12,228)
(23,987)
(528,383)
(552,370)
(20,292)
(9,635)
(156,940)
(692,949)
(879,816)
(1,432,186)		 Balance at
31 March
2024
£
28,729
22,822
51,551
414,130
465,681
560,480
145,202
3,814
-
709,496
1,175,177

Page 47

THE CHANGE FOUNDATION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
16,970
Fixed asset investments
1
Current assets
909,919
Creditors due within one year
(501,005)
Total
425,885		 Restricted
funds
2025
£
676,756
-
11,174
-
687,930		 Total
funds
2025
£
693,726
1
921,093
(501,005)
1,113,815

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
28,729
1
690,482
(253,531)
465,681		 Restricted
funds
2024
£
705,682
-
100,724
(96,910)
709,496		 Total
funds
2024
£
734,411
1
791,206
(350,441)
1,175,177

Page 48

(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Investment income
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Loss on the disposal of investment in a subsidiary
Net cash provided by/(used in) operating activities
21.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
22.
Analysis of changes in net debt
At 1 April
2024
£
Cash at bank and in hand
682,924
Bank overdrafts repayable on demand
-
682,924		 2025
£
(61,362)
40,685
(20,356)
(116)
33,636
150,564
-
143,051
2025
£
846,331
846,331
Cash flows
£
163,407
(851)
162,556		 2024
£
(56,819)
40,686
(22,955)
-
(11,408)
37,904
2
(12,590)
2024
£
682,924
682,924
At 31 March
2025
£
846,331
(851)
845,480

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(A Company Limited by Guarantee)

THE CHANGE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 £41,587 (2024 - £39,176) . The contributions outstanding at the year end amounted to £3,647 (2024 - £10) .

24. Related party transactions

Unrestricted donations were received from 1 Trustee, V Lowe, amounting to £Nil (2024 - 1 Trustee, V Lowe, amounting to £100).

During the year, amounts totalling £13,578 (2024 - £Nil) were paid to AMHC Europe Limited, a company owned by the Charity’s ambassador, Adam Hall. The amounts paid were for the provision of management services for two fundraising events. As at the year end, the amount outstanding was £Nil (2024 - £Nil).

25. Subsidiary undertakings

The Charity has one 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.

One issued share of 4 Change Enterprises Ltd amounting to £1 is held by The Change Foundation.

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