OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

Charity registration number 1085817

Company registration number 041542431085817 (England and Wales)

THE SPORTING CHANCE CLINIC

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE SPORTING CHANCE CLINIC

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr G A R Ball
Ms A Collis
Mr L Elias
Mr A Leslie
Mr M Muijen
Ms K Legg
Secretary Mrs S Heather
Charity number 1085817
Company number 04154243
Registered office Unit 19 Broxhead House
60 Barbados Road
Bordon
Hampshire
UK
GU35 0FX
Auditor Sumer Audit
Piper House
4 Dukes Court
Bognor Road
Chichester
PO19 8FX
Bankers Barclays Bank Plc
6 Clarence Street
Kingston Upon Thames
KT1 1NY

THE SPORTING CHANCE CLINIC

CONTENTS

Page
Trustees' report 1 - 5
Statement of trustees' responsibilities 6
Independent auditor's report 7 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 23

THE SPORTING CHANCE CLINIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The main objective of The Sporting Chance Clinic is to provide confidential access to therapeutic services for those engaged in professional and elite sport.

This includes:

Providing a pathway to our national network of counsellors and therapists for individuals presenting with emotional and mental health issues.

A residential service for addictive disorders treating individuals who present with alcoholism, drug dependency or compulsive gambling issues. This service combines a recognised model of residential treatment for addictions with an episode of one-to-one therapy that extends beyond the residential stay. Participants will also partake in a physical wellbeing program to suit their needs.

Online recovery meetings for individuals who have accessed the Sporting Chance residential programme and/or practitioners from the charity's national network to address their relationship with substances including alcohol, drugs and/or gambling.

Sporting Chance Clinic also has an education department that offers seminars and workshops to our stakeholders and participants in sport addressing emotional welfare issues.

Sporting Chance Clinic provide advice and training to our stakeholders and their clubs in creating a safe sporting environment that encourages good mental health.

Sporting Chance Clinic arrange an annual conference to showcase our work and to share good practice across professional and elite sport.

Public Benefit

The Charity's ethos offers a holistic approach encouraging good emotional well-being and mental health for those engaged in professional and elite sport. We aim to provide professional, safe and confidential services for those in need of support. The charity strives to make the workplaces of professional sports participants emotionally safe and create pathways for those in need accessible.

We have referred to the guidance contained in the Charities Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

THE SPORTING CHANCE CLINIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Significant activities and achievements against objectives

Charitable activities

The main areas of charitable activity are one-to-one counselling and therapy offered either through Sporting Chance Clinic's in-house team of therapists or via its national network of associates. All individuals providing these services have been vetted as appropriate, qualified and insured.

The charity has a residential facility that offers treatment programmes for those suffering with addiction, it offers a range of treatment episodes. Individuals are assessed as to which programme will suit their needs. All clients who attend residential treatment are offered ongoing support though one-to-one counselling and online support groups.

The charity runs on-line recovery meetings for Sporting Chance clients addressing substance use including alcohol, drugs and/or gambling addiction.

The charity provides educational seminars and workshops to professional sports clubs and sporting bodies across all age groups on topics of emotional well-being, lifestyle and addiction.

The charity works with governing bodies, leagues and clubs to create frameworks and processes that encourage good mental health.

Advice and information about services or the issues are working with can be found on our website www.sportingchanceclinic.com or by telephoning our offices on 0870 220 0714.

Outreach

The charity works closely with the player welfare structures within professional sport to create easy and confidential access to those seeking support. The charity will also promote confidential access to the charity's services via social media, player workshops and our website.

Educational Seminars

The Sporting Chance Clinic Education Department offers a range of seminars and workshops that are tailored to the audience. The Charity holds contracts to provide education with: The Premier League and League Football Education. Women's Super-League and the FA in football, with Rugby Leagues Cares in Rugby., The National Jockeys School and the Professional Jockey Association in horseracing and across sport in Northern Ireland through Sport Northern Ireland. The charity also provides education seminars to our other stakeholders in Darts, Cricket, Tennis and Squash when requested.

Education seminars cover the main themes of the Charity's work covering topics including emotional wellbeing and mental health. Seminars can be tailored to focus on specific behaviours or symptoms that indicate or can lead to poor mental health such as gambling, substance use including alcohol and social media use. Seminars are clinically informed and offer a high level of information appropriate to the age of the participants, a self-reflective process for the audience. Sporting Chance will also include a "Player's Story" when appropriate. The player's story is told by a retired or current sports person that has experienced issued discussed in the main presentation and has now found a solution.

The charity also provides education to the staff of our stakeholders and clubs on topics relating to working with elite and professional sport participants and creating environments that encourage good mental health.

THE SPORTING CHANCE CLINIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

The Trustees are satisfied with the performance and state of the Charity. Total funds are represented by unrestricted funds. Strenuous efforts have been made to increase funding so that additional skills can be employed to broaden and deepen the scope of work carried out. A major aim has been to create surpluses that allow a reserve to be created against future working capital requirements and it has long been the charity's intention to expand the brand, services and support to more sports, more clients and to wider geographical areas, all of which require investment.

The Trustees regularly examine the Charity's requirements and the need to maintain a reserve to fund both expansion and any change to the timing and size of income. To date, the funds arising have only been sufficient to leave as a reserve. If in the future an excess arises over and above the short-term funding requirements the trustees will consider appropriating this to a separately designated fund.

Principal funding sources

The Sporting Chance Clinic Charity has relationships with over ten sports and twenty stakeholders. The Professional Footballers' Association provides the largest amount of funding being annual core funding in 2023 of £443,750 (2022: £425,000). This includes an element of funding for their members and ex-members to be supplied with one-to-one therapy, mentoring and support, and residential rehabilitation treatment. During the year the Football Association provided core funding of £118,752 (2022: £125,000).

The Trustees consider the above core funding to represent unrestricted donations for use by the Charity in its charitable activities.

Reserves policy

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Investment policy and objectives

Up until now there have been insufficient funds to allow for the long term investment so surplus funds have been kept in a bank deposit account. The Trustees have discussed the level of reserves required and aim to have at least 6 months of operating costs be covered by the level of reserves and cash held.

Plans for future periods

The Charity is established as the country's main provider of mental health services to individuals who participate in professional sport. We will be focused on increasing our influence to inform and improve the landscape that creates the working environment for current and retired professional and elite sport participants. We will continue to promote our work and services globally. The Charity is committed to the continued development of therapeutic services and education content that is clinically informed and offers meaningful change to those we serve. We will continue to develop and expand relationships with existing stakeholders with a view to offering services to more individuals within the existing sports we serve. We will also offer existing services and expertise to other stakeholders and sports with a view to increasing the charity's reach.

The charities mission is "When any sports person has the courage to reach out for support with an emotional or mental health concern, there must be support available. The support must be professional, confidential and safe - Sporting Chance can be that place".

Structure, governance and management

The Sporting Chance Clinic is a company limited by guarantee, incorporated on 6th February 2001 and registered as a Charity on 26th March 2001.

The company established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under its Articles of Association.

THE SPORTING CHANCE CLINIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr G A R Ball Ms A Collis Mr L Elias Mr A Leslie Mr M Muijen Ms K Legg

Recruitment and appointment of trustees

The Trustees are appointed according to their various skills and knowledge of the aims and aspirations of the Charity. The Trustees possess significant business skills which collectively and individually provide expertise in all areas.

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

At each Trustees meeting a review of the risks to which the Charity is exposed is discussed and considered. Reporting procedures are in place which ensures compliance with health and safety of staff, clients and visitors.

Organisational Structure

The day to day operation of the Charity is delegated to the chief executive, Colin Bland, who is in regular contact with the Trustees about matters arising. The CEO meets with the Chair of Trustees weekly and he and the COO, Shellie Heather, meet with the full board on a quarterly basis. The COO also meets with the Chair for monthly reviews of the charity's finances.

If necessary, the individual skills of the trustees are called upon if needed for particular assignments or operations.

Induction and training of new trustees

Most Trustees are already familiar with the practical work of the Charity, having had access to literature and detailed discussions at meetings of the work undertaken and holding similar positions on other charities. Additionally, new trustees are invited and encouraged to attend training sessions to familiarise themselves with the Charity and the context within which it operates.

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Audit be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

THE SPORTING CHANCE CLINIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees' report was approved by the Board of Trustees. Ly Hhejary Ge

Mr G A R Ball Chair of Trustees

Date: 24th September 2024

THE SPORTING CHANCE CLINIC

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees, who are also the directors of The Sporting Chance Clinic for the purpose of company law, are responsible for preparing the Trustees' 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust 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 trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE SPORTING CHANCE CLINIC

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE SPORTING CHANCE CLINIC

Opinion

We have audited the financial statements of The Sporting Chance Clinic (the ‘trust’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

THE SPORTING CHANCE CLINIC

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SPORTING CHANCE CLINIC

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 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.

Identification and assessment of irregularities including fraud

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

THE SPORTING CHANCE CLINIC

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SPORTING CHANCE CLINIC

Audit response to the risk of irregularities including fraud

Based on the results of our risk assessment, our procedures included, but were not limited to:

Conclusions regarding the risks of irregularities including fraud

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We considered our audit was capable of detecting irregularities due to:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

THE SPORTING CHANCE CLINIC

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE SPORTING CHANCE CLINIC

Mr Jordan Abbott BSc ACA (Senior Statutory Auditor) for and on behalf of Sumer Audit

25/09/2024

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

Chartered Accountants Statutory Auditor

Sumer Audit Piper House 4 Dukes Court Bognor Road Chichester PO19 8FX

Sumer Audit is eligible for appointment as auditor of the trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Sumer Audit is a trading name of Sumer Auditco Limited.

THE SPORTING CHANCE CLINIC

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 137,668 62,142
Charitable activities 4 1,783,505 1,607,029
Investments 5 343 128
Total income 1,921,516 1,669,299
Expenditure on:
Raising funds 6 45,009 10,178
Charitable activities 7 1,713,370 1,656,784
Other expenditure 13 40,272 -
Total expenditure 1,798,651 1,666,962
Net income and movement in funds 122,865 2,337
Reconciliation of funds:
Fund balances at 1 January 2023 707,683 705,346
Fund balances at 31 December 2023 830,548 707,683

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE SPORTING CHANCE CLINIC

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 15 1,444,242 519,640
Current assets
Debtors 16 197,807 161,229
Cash at bank and in hand 255,984 258,010
453,791 419,239
Creditors: amounts falling due within 18
one year (295,150) (231,196)
Net current assets 158,641 188,043
Total assets less current liabilities 1,602,883 707,683
Creditors: amounts falling due after
more than one year 19 (772,335) -
Net assets 830,548 707,683
The funds of the trust
Unrestricted funds 21 830,548 707,683
830,548 707,683

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

The financial statements were approved by the trustees on 24th September 2024

ey, Mogae Ke. Mr G A R Ball Chair of Trustees

Company registration number 1085817 (England and Wales)

THE SPORTING CHANCE CLINIC

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 23 161,161 247,809
Investing activities
Purchase of tangible fixed assets (951,391) (389,858)
Investment income received 343 128
Net cash used in investing activities (951,048) (389,730)
Financing activities
Proceeds from new bank loans 787,861 -
Net cash generated from/(used in)
financing activities 787,861 -
Net decrease in cash and cash equivalents (2,027) (141,921)
Cash and cash equivalents at beginning of year 258,010 399,931
Cash and cash equivalents at end of year 255,984 258,010

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The Sporting Chance Clinic is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 19 Broxhead House, 60 Barbados Road, Bordon, Hampshire, GU35 0FX, UK.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations are accounted for on a received basis.

Legacies are recognised on receipt or otherwise if The Sporting Chance Clinic has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Core funding is accounted for on a receivables basis when the Charity has entitlement to the funds.

Interest on funds held is included when receivable.

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

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 are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 10% on cost
Leasehold land and buildings 10% on cost
Fixtures and fittings 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The useful life of assets

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The key area of judgement or estimation uncertainty is the useful life of assets which is an estimation.

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 137,668 62,142
Donations and gifts
Other 137,668 62,142
137,668 62,142

4 Charitable activities

Therapy and
Rehabilition
2023
£
Sales within charitable
activities
846,959
Performance related
grants
775,302
1,622,261
Performance related grants
The Professional
Footballers' Association
443,750
The Football Association
118,752
The Rugby Football
League
-
The Professional Dart
Players Association
13,750
The Professional Cricketers
Association
84,300
The Professional Jockeys
Association
37,500
The FA National Teams
77,250
Other
-
775,302		 Education
Seminars
2023
£
161,244
-
161,244
-
-
-
-
-
-
-
-
-		 Total
2023
Therapy and
Rehabilition
2022
£
£
1,008,203
700,548
775,302
755,317
1,783,505
1,455,865
443,750
425,000
118,752
125,000
-
24,871
13,750
12,813
84,300
74,300
37,500
22,500
77,250
70,833
-
-
775,302
755,317		 Education
Seminars
2022
£
151,164
-
151,164
-
-
-
-
-
-
-
-
-		 Total
2022
£
851,712
755,317
1,607,029
425,000
125,000
24,871
12,813
74,300
22,500
70,833
-
755,317

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 343 128
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising and publicity
Staging fundraising events 45,009 10,178
7 Expenditure on charitable activities
Charitable Charitable
activities activities
2023 2022
£ £
Direct costs
Staff costs 587,968 582,945
Depreciation and impairment 26,788 27,368
Rent and rates 23,926 40,400
Counsellor network 566,215 569,496
Utilities and laundry 10,266 8,732
Repairs and maintenance 54,164 21,574
Insurance 26,665 26,050
Motor vehicle expenses 8,638 10,659
Travel and subsistence 39,662 46,633
Sundry expenses 3,119 1,574
Telephone 14,752 16,132
Other office costs 49,714 39,479
Therapy and treatment consultants 198,992 190,534
Education seminars 67,276 54,474
1,678,145 1,636,050
Share of support and governance costs (see note 9)
Governance 35,225 20,734
1,713,370 1,656,784
Analysis by fund
Unrestricted funds 1,713,370 1,656,784

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

8 Charitable Activities

Charitable activities

9 Support costs allocated to activities

Governance costs
Analysed between:
Charitable activities
10
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2023
£
35,225
35,225
2023
£
6,550
26,788		 2022
£
20,734
20,734
2022
£
6,516
27,368

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
11
2023
£
517,133
55,389
15,446
587,968		 2022
Number
10
2022
£
505,585
55,372
21,988
582,945

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12 Employees (Continued)

The number of employees whose annual remuneration was more than £60,000
is as follows:
£80,000 to £89,999
£110,000+
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2023
Number
1
1
2023
£
204,310		 2022
Number
1
1
2022
£
202,680

The Key Management of the Charity comprise of the Trustees, the Chief Executive Officer and the Deputy Chief Executive Officer. The above remuneration comprises of all emoluments paid to the Key Management personnel during the year.

There were no related party transactions during either year.

13 Other

**Unrestricted ** Unrestricted
funds funds
2023 2022
Financing costs 40,272 -
40,272 -

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 January 2023
521,612
Additions
951,391
At31 December 2023
1,473,003
Depreciation and impairment
At 1 January 2023
33,913
Depreciation charged in the year
13,175
At31 December 2023
47,088
Carrying amount
At 31 December 2023
1,425,915
At 31 December 2022
487,700
16
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
17
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Leasehold
land and
buildings
£
47,140
-
47,140
32,998
4,714
37,712
9,428
14,142		 Fixtures and
fittings
£
82,146
-
82,146
64,348
8,899
73,247
8,899
17,798
2023
£
67,352
130,455
197,807
2023
£
787,861
15,526
772,335		 Total
£
650,898
951,391
1,602,289
131,259
26,788
158,047
1,444,242
519,640
2022
£
151,686
9,543
161,229
2022
£
-
-
-

The long-term loans are secured by fixed charges over freehold property.

On 28 April 2023 Sporting Chance Clinic drew down on a mortgage of £798,000 secured on their Freehold Property, Crouch Cottage, Champneys Forest Mere, Liphook GU30 7JQ. The mortgage has a 25 year term at an interest rate of 6.31%.

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

18 Creditors: amounts falling due within one year

Notes
Bank loans
17
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
19
Creditors: amounts falling due after more than one year
Notes
Bank loans
17
20
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2023
£
15,526
32,991
1,555
10,837
234,241
295,150
2023
£
772,335
2023
£
15,446		 2022
£
-
24,806
5,008
7,356
194,026
231,196
2022
£
-
2022
£
21,988

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
Sporting Chance Benevolent
Fund
General funds		 1 January
2023
Incoming
resources
Resources
expended
£
£
£
4,245
40
-
703,438
1,921,476
(1,798,651)
707,683
1,921,516
(1,798,651)		 Transfers
At 31
December
2023
£
£
-
4,285
-
826,263
-
830,548		 Transfers
At 31
December
2023
£
£
-
4,285
-
826,263
-
830,548
830,548

THE SPORTING CHANCE CLINIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

21
Unrestricted funds
Previous year:
At
Sporting Chance Benevolent
Fund
General funds		 1 January
2022
Incoming
resources
Resources
expended
£
£
£
9,787
8
-
695,559
1,669,291
(1,666,962)
705,346
1,669,299
1,666,962		 (Continued)
Transfers
At 31
December
2022
£
£
(5,550)
4,245
5,550
703,438
-
707,683

The sum of the Benevolent Fund is directly related to the donations received. The Fund is in place to support current or retired professional/elite sports persons who require the charities support and have no access to such services through another professional body or union connected to their sport. Qualifying individuals are required to demonstrate that they are unable to fully fund or contribute to the cost of treatment required, and that they have explored and have a good reason why statutory or self-help services are not suitable

22 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

23
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash generated from operations
24
Analysis of changes in net debt
At 1 January
2023
£
Cash at bank and in hand
258,010
Loans falling due within one year
-
Loans falling due after more than one year
-
258,010		 2023
2022
£
£
122,866
2,337
(343)
(128)
26,788
27,368
(36,578)
142,168
48,428
76,064
161,161
247,809
Cash flows At 31 December
2023
£
£
(2,026)
255,984
(15,526)
(15,526)
(772,335)
(772,335)
(789,887)
(531,877)