Registered number., 4286195 Charlty number. 1091941 2K PLUS INTERNATIONAL SPORTS MEDIA UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMETrTrs FOR THE YEAR ENDED 31 MARCH 2024 WR Partners Protscting your future.
2K PLUS INTERNATIONAL SPORTS MEDIA IA company limited by guarantee) CONTENTS Page Reference and admlnistratlve delalls of ihe Chafltable Company, Its Twstees and advlsor8 Truslees. report Independent examlner's rpport Statement of flnanclal actlvltles B•lan¢e $h••t 1D-11 Notes lo tha financial ststgments 12-22
2K PLUS IMfERNATIONAL SPORTS MEDIA (A company hmited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Tru5tee5 G Aj818, Chair lo 8 February 2024 (resigned 8 February 20241 E A Golding. Acting Chair fM 8 February 2024 P Musembi Rev S Vvnipola (appcinted 21 September 20231 Company reglstered number 4288195 Charity reglstered number 1091941 Reglsterod offl¢e Belmont House Shrewsbury Busin&ss Park Shreswsbury Shrq)shire SY2 6LG Company secretsry L Hwnilton Ac¢ouirtants WR Partners Chartered Accountants Belmont House Shrewsbury Business Pa Shrewsbury Shropshlre SY2 6LG Bankèrs National Westminster B¥nk PIC S Broadwater Street East Worthing West Su$sex BN14 9A8 Sollcitors Griffith Smith Farringlon Webb 47 Old Steyne BTighton BN1 INW P898 1
2K PLUS INTERNATIONAL SPORTS MEDIA IA cornpany Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trusteeg present thelr annual report together wilh the financial stalemenlB of the Chariloble Company fc the year 1 Apnl 2023 10 31 March 2024. The Annual report serves the purp05e3 of both a Trustee8' report and directors, report under company law. The Truslees confirm that the Annual report and financial statements of the charitable comp8ny comply with the Current statutory reqU1mentS, the requlremenls of the charitable company's governing docurnenl and the provisions of the Slalement of Recommended Practice ISORP) applicable lo charitie$ preparing their a¢¢ounts in accordance wih the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS1021 (effective 1 January 20191. Since the Charitable Company qualrfies as small under section 382 of Ihe cornp8ni8s Act 2005. the Stralegic report required of medium andlarge companie5 under the Companies Act 2006 Istrolegic Report and Directors. Report} Regulations 2013 has been ornilled. Objeclives and activltles a. Pollcles and objectives The trustees meet four limes a year for foTmo1 minuted meetings and responsible for strategic decisions whtth are implemented by the Charity's staff. The Trustees have ¢onsidered the latest Charity Governance Code for small ¢harilies an¢J Bre u81ng this in their ongoing assessment and improvement in the running of Passion for Sport Ithe registered working name of 2K Plus Inlernalionol Sports Media). Passion for Sport exists "lo advance the Chri51ian religion by reporting. writing and broadcasting upon sporting events, activities and personallties from a Chrislian perspective and publishing and broadcasting such material through radio, lelevi9ion, print, the internet and other such media as the Trustees may from time to time decide." In $elling obje¢tives and planning for activities. the Trustees have given due ¢on5ideration lo general guidance published by the Charity Commission relating to public benelil, including the guidance 'Publl¢ benefrt. running a charity {PB2I'. b. Strate9ies for achievlng oblectlves The Trustees have paid due regard to guidance issued by the Charity CDmmissiDn on public benefit in deciding wh* a¢tivilies the Charily should undertak8. The priority ts on the following aa$.. Reaching in." To grow and develop stakeholder partnerships aligned lo our $trale9iG objectives - advancing the sharing of the Christian worfdview especially lo our target audience of sports fans.. Reaching out.. To establish a model of incrèased engagement with our audience of people unreached or unmoved by faith through Continued improvements in quality of PTodvclion and creative undertaking., Page 2
2K PLUS INTERNATIONAL SPORTS MEDIA IA company limiled by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and aclivities (continued) Acliwlties undertakon to achleve obJe¢tlves AfAfter a ftFII and thorough review of our strategic plan by the working paty of Mr Hamilton and Dr Filby. it was aged to approve two amendments to our strategic plan. Firstly. the adoption and implementation of a student plament fiamewotk allowing Passion For Sport to fully Lrtilise the rKJol of potential students looking to break inlo the media industry andloT Sports evangelism. As part of this prcposal the working party atteThled a devotional study series with students of BeWa5t Metropolitan College. beknn October and December 2023, to deterynine the structure and needs of student$ loc&ing to move into industy from graduati(In in the wesenl lime. Secondly, the trustees approved the decision to launch a second radio programme aimed directly at listeners in the UK. Our e$tIng weekiy programme, Planet Sport Football Africa, continues to gain listeners and engagement on sacial media Channels. The trustees believe a framework has been established on how lo build an audience succe5sfulty and feel a UK orientated programme would show a wnmitrnenl tD grow our mi85ional a¢livity in the local communities of our stakeholders. In line with our (knjective lo gr{ strategic partner8hipg. Rev Sing• Vunipola joined th8 board In Septfjrnber 2023 as an advisor on UK growth strateuy. Rev Vunipola is an ordained minister In the Melhodisl churth and serve5 as minister in Hammersmith. London. Rev Vunlpola is also the mother of England rugby internationg15 Billy and Mako Vunipola. Rev Vunipola advised on the developrnent of our second treaCh event under the Sports Stories Spaces brand, focused on the Rugby Wodd Cup in Autumn 2023. Achievements and perfomiance . Revlew of actlvlties The trustees are pleased with the efforts to achieve the new amendments to th& strategi¢ plan,. the implementstion of a student work placement scheme and the launch of a second radio programme in the UK. At the Rugby Wodd Cup in Autumn 2023, Passion For Sport took a team induding nine students from Belfast Met to Paris to woth on our mission81 evangelism project, Sports Stories Spaces. The team worked tc secure a flagshrp venue in Paris. Stade Jean Bounin, and display an exhibit of past and pre3enl rugby interllaliona15 leslimonies through the medium of technology and art. The event took place over the weekend of 2nd-3rd of September 2023. A second student placetnent team WOTked on a project to develop a pilot show for Planet Sport from October to December 2023. StLJdents from Greenville University. USA. working under the $upNision of Mr Hamilton. created pilot shows of differing fomiats lo deterrrne a prefeThed style of prraMMe. This pilot sh(Y4V was then used to approach potential media partners in the UK to broadcast the programme from Summer 2024. Premier ChTlStian Radio have agreed lo work togetherwith Pa$5ion For Sport in achieving this aim. Page 3
2K PLUS INTERNATIONAL SPORTS MEDIA IA ¢Dmpany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perforniance Icontinuedl b. Fundralslng actlvlties and Income generatlon The Trustees are grateful for donations received during the year from DTganisations 8nd from individuals. The general policy 15 to s88k non-Teslricted funds allhough the Trustees recognise that certain events will appeal specifically to supporters. The charity is in the process of glrengthening its base of financial support within the UK. This year we exhibited at Bangor Worldwide Missionary Cunvention for the first time and explored other venues lo exhibil in 2024. A new fundraising plan is currently in development lo detemiine new sosjrces of income and opportunlties available with the launch of Planet Sport and other programming directing largeling operations in the UK. The charity has invested In upskilling our digital technology knowledge to capitalise speryfically on advertising income through Youtube and Inslagram. Financial review o. Going ¢oncom After making £pprDpriRte enquiries, th6 Trustees have a reasonable expectation th81 the Charitable Company has adequate resources lo continue in operational existence for the foreseeable futu. For Ihis reason, they ¢ontinue to adopt the ooing concern basis in preparing the financial 51atemenls. Further detai18 r8garding the adoption of the going concem basis can be found in the accounting pclicies. b. Reserves policy The Charity aims lo build reserves sufficient lo meet iwelve weeks. eypendilure. Free reserve5 at the ye8r-end Showed a surplus of £7,856 12023-. surplu5 of £16,279), calculaed as the unrestricted funds, less the tangible fixed assets. This level is below the slated aim of Melve weeks expenditure. Trustees are aware of the situabon and are working to increase the level of free r8serv8S. c. Principal risks and uncertalntle5 As wrth most charities, the ongoing UK economic situation presents ch811eng88 for our denors bul we monrtor very dosely our income and expenditure situation, in case adjusknenls need lo be made to our spending. Page 4
2K PLUS INTERNATIONAL SPORTS MEDIA IA company limited by guarantee TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Stru¢ture, govemance and management . Constltutlon 2K Plus International Sports M8dia is registered as a charitable company limited by guarantee in England and Wales and was set up by a Trust deed. b. Methods of appolntment or el¢ctlon of Trustees The management of the Charitsble Company is Ihe responsibility of the Trustees who are elected and co-opted under the temis of the Trust deed. . Oryanisational structure and declslon-maklng policies The directors ol the company are also charity trustees for Ihe purposes of charity law. Under lh8 requiremen1$ of the Artides of Association one third Of the Trustees are reqUId to rel1 at the AGM. those longest in office retiring first and the choice b8twe8n any of equal $eNl¢e being made by drawing lols. Truslee5 are required to meet at least twice a year and a quorum al each meeting is three Trustees. d. Flnanclal rlsk manag•ment The Trustees have assessed the major risks lo which th¢ Chaiitable Company is exposed, in particular those related to the operations and finances of the Charbtable Company, and are satisfied that systems and procedures ar@ in place lo mitlgale exposure lo the major risks. The TTuslees continue to assess risks that the th>Jltab18 company faces al their re9ular Trustees. meetings. No signfficant risks were identified during the year. Public h'abilily cover 1$ maintained at £5 million. Plon5 for future periods We wll contlnue lo explore q)portunltles lo develop the 8udience reach through social rnedia and online seNices, devebping and populating our Bocial media feeds across all accounts. We recognise tr1 the need lo increase staff hours to achieve th8se aims will be set against increasing challenges for UK oharities in developing existing, and 2tlrath"n9 new, income stream5. We intend to produce an updated 'Ca$e for Support,. for both Ihe domestic and intemalion?I markets. Analysis has suggested there may be polential for income growth overseas, particulaTly in the USA. Segmental informalion The charitable company operates woildwide. The majority of its incoming resources are generated in the UK. There was no income this year recerved from ihe USA. Page 5
2K PLUS INTERNAnoNAL SPORTS MEDIA IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 staternent of Twstges. responsibilities The Trustees (who are also the directors of the Charitable Ccwnpany for the purposes of company law) are responsible for preparing the TTUStees' report and the financial statements in accordance wrth applicable law and Uniled KIngdC Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law require5 Ihe Trustees to prepare financial statement5 for each finan¢ial . Under company law. Ihe Trustee5 must not approve the financial statements unless they are satisfied thal they give a true and fair view of the stste of affairs of Ihe Charitable Company and of ils incoming resources and application of resources. including its income and expendilure, for thal period. In preparing these financial statem8nls. the Trustees are required to.. select suitable accounting policies and then apply them consistenlty.. observe the methods and principles of the Charities SORP IFRS 102),. make judgments and accounting ests"m3les that are reasonable and prudent- $lale whether applicable UK Accounting Standard$ {FRS 1021 have been followed, subject lo any material dèpartures disclosed and explained in the financial ststements.. prepare the financial stalements on the going concern basis unless it is inappropriate lo presume that the Charitable Company will continue in business. The Trustees are resprJ)sible for keeping adequate accounting records that are 5ficient to show and explain the Charilable Company's transactions and di5dose wf(h reasonable accuracy at any lime the financial position of the Charitable Comp3ny and enable them to ensure that Ihe financial statements comply with the Companies Act 20[. They are also respSIble for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud ancl other irregu18rilies. Approved by order of the members of the board of Trustees arKI signed on their behaw by.. E A Golding Acling Chair of Trustees Date: Page 6
2K PLUS INTERNATIONAL SPORTS MEDIA IA company Ilmitsd by guarantee INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independpnt examinets report lo th• Trusiees of 2K Plus Int•matlon•l Sports Modla {Ihe Charitsble Company'l I report to the tharity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 Mèr¢h 2024. R•&ponslbllltles and basls of rèport A5 the Trustees of the Charitable Company land ils directors for the purposes of company kni) you are responsible for the preparalion of the accounts in accordan with the requirements of the CCnpanles Act 2006 rthe 20C6 Acfl. Having satisfied myself that the accounts of the Charitable Company 8re not required to be audited under Part 16 of the 20C6 Act and are eligible for independent examination, l Teport in respect of my examination of the Charitsble Company's accounts carried out undèr section 145 of the Charities Act 2011 Ilhe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14S(5)Ib) of the 2011 Acl. Page 7
2K PLUS INTeRNAlloNAL SPORTS MED IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent examlnerfs gtstement I have completed my examination. I confirm that no matter$ have come to my attention in CDnneclion the examlnation giving me cause lo believe.. accounting records were not kept in respe¢t of the Charitable Company as required by section 386 of the 2006 Act., or the accounts do not accord with those rec¢rds', or the accounts do not comply with the accounting requirements of sedlon 396 of the 2006 Act oiher than any reguirement thal the accounts give a 'true and fair. view whith is nol a matter considered as part of an independent examination., OT the accounts have not been prepared in accordance with Ihe methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities pparing their accounts in a¢¢ordan¢e wbth Ihe Financial Reporting Standard applicaNe in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other mattets in connection wilh the examination to which attentlon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 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. My work has been undertaken so that I might state to the Charitab18 Company's Trustees those matters l am reqltrired to state to them in an Independenl examinerfs report and for no olher purpose. To the fullest extent permilled by law, I do not a¢cepl or assume responsibility to anyMe other than the Charitable Company and the Charitable Company's Trustees 95 a body. for my Wofk or for this report. Signed.. Dated.. 1611212024 T Lunt 8A FCCA MTPI WR Partners Chartered Accounlants Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG Page 8
2K PLUS INTERNATIONAL SPORTS MEDIA IA Company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDrruRE Accoufrm FOR THE YEAR ENDED 31 MARCH 2024 Restrlcted Unrestrl¢l¢d funds funds 2024 2024 Total funds 2024 To181 lunds 2023 Note Income frnrn.. Donations and legacies Other Irading activities Investrnents 16.525 62,272 68,797 76, 753 11 11 33 Total income 16,525 52,283 68,808 80,786 Expenditure on: ChaTitable activitie5 16,737 60,795 77,532 68,342 Totsl exnditUre 16,737 60.795 77,532 68,342 Net movemènt in funds 1212 18,S121 18,724) IZ444 Reconciliation of fund8- Total funds brought forward Net movement in funds 212 12121 17.21M 18,5121 17,416 18,7241 4.972 12,444 Total funds carried for6Yard 8,692 8,692 IT,416 The St8tement of financial activities includes all gains and losses recognised in the year. The re5 on pages 12 10 22 fomi part of these financial statements. Page 9
2K PLUS INTERNATIONAL SPORTS MEDIA {A company Ilmitod by guarant•el REGISTERED NUMBER: 4286195 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assels Tangible assets 10 418 925 418 925 Current assets Cash al bank and in hand 15865 20.322 16,465 20,322 Creditors.. amounts falling due within one year 17,1911 (3.831) Net current a55Ets 8,274 16,491 Total aygety less current liabllltie5 8,692 17.416 Total Tret assets 8,692 17,416 Page 10
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guardnleel REGISTERED NUMBER-. 4286195 BALANCE SHEET (CONTINUED AS AT 31 MARCH 2024 2024 2023 Note Charity funds Restn'cted funds Unrestricted funds 12 12 212 17,204 8,692 Total funds 8.692 17.416 The Charitable C(mpany was entitled to exemption from audit under 8ec*ion 477 of the Companies Act 2006. The member5 have not required the Ctynpany to obtsin an audit for Ihe year in question in accordgnce wilh section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complylng with Ihe requirem8nls of the Acl with SPeCt to a¢¢ounting reGord8 and praTlon of financial statement5. The financial 8tatèments have been prepared in accordance with the provlslons applicable to entities subject to the Small comp8nies regimé. The financial statements were approved and authorised for i8sue by the Trustees and signed on their behalf by.. E A Goldin9 Acting Chair of Trustees Date.. The notes on p8ge5 12 tD 22 fomi part of these financial statements. Page11
2K PLUS INTERNATIONAL SPORTS MEDIA IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 Gentrnl Infomiatlon 2K Plus Intemational Sports Media 15 8 charitable company, limited by guarantee. and Resgi5tered with Companies House i England and Wales. The members of the company are the Twstees named on page 1. In the event Df the charitable company being wound up. the liability in fespect of the gLJarantee is limited to £1 per member. The reghstered office of the company is Belmont House, Shrewsbury Business Pa. Shrewsbury, shropshi, SY2 6LG with its principal place of busne5S at Enlerprise House, St Austell Bay Business Park, Par Moor Road. StAustell. Cornwall, PL25 3RF. Accounting pollcles 2.1 Basis of preparation of financlal atements The financial slemenls have been prepared in a¢wrdan¢e wth the Charities SORP IFRS 1021- A¢counling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordsnce with the Financial Reports'ng Standard applicable in the UK and Republic of Ireland {FRS 102> (effective 1 Juary 2019}, the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. 2K Plus Inlemalion81 Sports Media meèts the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy, 2.2 Going concern After making enquires. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational Existence for the foreseeable future. The Charity therefore GrtInueS lo adopt Ihe going concem basi5 in PTeparing its financial statements. The Charity is considered to be well positioned given the cuirent envirDnrnent wilh no impact on the going concern basis of the financial stalerrEnts. 2.3 Income All income is recogni5ed once the Charitable Coryany has entiuement to the income. it is prcJable that the income will be reiVed and the amounl of income receiv8ble can be measured reliably. Grants pre included in the Stement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period 15 shown in Ihe relevarbt fund5 on the Balan sheet. Where income 15 received in 8dvan¢e of enlrtlemenl of receipt, its recognition is deferred and included in creditors as deferred incom8. Where entitlement occurs before income is received. th8 income 15 accrued. Income tsx recoverable in relatson lo investmenl income is recognised at the time the investment income is receivable. Page 12
2K PLUS INTERNATIONAL SPORTS MEDIA IA company Ilmited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policie5 Icontinued) 2.4 Expenditure Expenditure 15 recognised once there is a legal or conslnjctive obligation to transfer economi benefi't to a third party, il is probable that a transfer of ecDnomic benefits will be required in settlement and the amount of Ihe obl*Jation can be measured reliably. Expendilure is classified by activity. The costs of each aclivily are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct wsl$ attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo rnore Ih8n one aclivity and support costs which are not attributable to a single activity are appDrtioned bekneen those activities on a basi5 consistent with the use of resources. Central slaff costs are allocaled on the basis of time spent, and depr8ciation charge8 albxaled on the portipn of the asset's use. Expenditure on charii8ble a¢tivitiè8 is illcufred on directly undertaking the activities which further the Charitable Company's objectives, a$ well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Tanglble fixed assets ¥rbd depreciation Tangible fixed assets are initially COgniSed at cost. After recognition, under the model, langible fixed assets are measured at cost less ae£umulated depreciation and any accumulated impairment ID55e5. All costs incurred to bring a tangible fixed assel into 115 inlended worfAing candition should be included in the measurement of co. Depreciation is charged so 8$ to allocate the cost of tangible fixed assets less their residual value over their eslirnated useful lives. using the straight-line method. Deprec¢ation is provided on Ihe fomowing basi5'. Office equipment 25% 16 Cash at bank and Ih hand Cash al bank and in hand include5 cash arKI short-temi highly liquid investments with a short maturity of three months or les8 from the date of acquisition or opening of the deposit or similar account. Page 13
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles 1cont1ned} 2.7 Liabllitles and provlslons Liabilitie5 are recogni5ed when Ihere is an obligation al the Balance Sheet date as a re$ull of a past event, it 15 probable Ihal a Iransler ol economic benefit will be require¢J in selllernent. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the arnounl that the Charitable Company anticipates il wll pay ID settle the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions are measured 81 the best eslimate of the amounts required lo settle the obllgation. Where the effect of the lime value of money 15 material. the provision is based on the present vèlue of those amourils, ¢Yiscount8d at the pre-tax discount rale that reflects the risks specrfic lo Ihe liability. The unwinding of the discounl is recogni$ed in the Statem8nl of linancial xlivities as finance cost. 2.8 Flnan¢lal ingtTuments The Charitable Ccmpany onty has financial assels and financi31 liabilities of a kind that qualify as basi¢ financial inslrumenls. Basic financial instrLments are initially recogni5ed at transaction value and subsequently mEasured at IheiT settlement value with the èxception ¢f bank loans which are subseqvenlly measured al amortised cost using the effe(aive interest method. 2.9 Pensions The Charrtable Company operates a defined conlribuiion pension scherne and the pension charge Tepresenls the amounts payable by the Charitable Company lo the fund in respect ctrf Ihe year. 2.10 Fund accounting General funds are unrestricted funds which are available lor use al the discretion of Ihe Trustees in furtherance of the general obJ'eclive5 of the Charltable Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specifiG restrictions imp05ed by donors or which have been raised by IhB Charit8ble Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is set out in the notes lo Ihe financial 5tstemenls. Investment incorne, gains and losses are allocaled lo the appropriate fund. Page 14
2K PLUS INTERNATIONAL SPORTS MEDIA (A company Ilmlted by guaranlee) NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 P4lARCH 2024 Incorne from donatlons and legAcies Restrlcted Unrestrl¢ted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Grants Simitar incoming resources 7,254 4S.000 18 7,254 61,525 18 6, 753 70.000 16,525 16,525 52.272 68,797 76.753 Tot812023 76, 753 76, 753 Income from other tradlng actlvltles Income from fundraising events Unrestrlct6d funds 2024 Total funds 2024 Tot81 funds 2023 Fundraising income 4,000 Total 2023 4,000 Analysis ol expendlture on charltable actlvltlés Summary by lund type Restrlcted Unrestrieted funds funds 2024 2024 Total 2024 Totsl 2023 Chari19ble activities 16.737 60.795 77.532 68,342 Total 2023 68,342 68,342 Page 15
2K PLUS INTERNATIONAL SPORTS MEDIA IA CDmpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysi5 of expendlture by •ctl¥ltig5 Activities undertaken directly 2024 Support G05ts Total funds 2024 Tdal funds 2023 2024 Charitable adrvitses 39.790 37,742 77,532 68,342 Tolal 2023 35,225 33.It7 68,342 Analysls of dlrect Costs Charitable activities 2024 Total funds 2024 Total funds 2023 Sporting events Planet Sport Fijotball Afric2 Olher direct produdion costs 13,047 19,296 7,447 13,047 19,296 7,447 4.260 23.380 7,585 39,7 39,790 35,225 Total 2023 35.225 35,225 Page 16
2K PLUS INTERNATIONAL SPORTS MEDIA IA compaTry limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expenditure by o¢tlvltio6 Icontlnuedl Analysls of support costs Charitable a¢tlvlties 2024 Total funds 2024 Tolal funds 2023 Staff costs Depreciation Membership and subscriptions Insurance Bank Charges Offe cost$ Travel and accomodalion Publicity and promotion Legal and Professlonal Loss on disposal Websites. li¢enG8s & software 26,242 406 100 997 593 1,829 1,029 2.431 1,843 101 2,171 26,242 406 100 997 593 1,829 1,029 2,431 1,843 101 2,171 21,930 507 633 997 480 2.372 925 1. 140 2.119 2,014 37,742 37,742 33,117 Tolal 2023 33,117 33,117 Independent examinerfs rem4Jneration 2024 2023 Fees payable to the Charitable Company's independent examiner for the independent examination of the Charitable Company'5 annual accounts 1,890 1.860 Staff costs 2024 2023 Wages and salaries Contribution lo defined contribution pension Schemes 25,867 375 21.577 26,242 21,930 Page 17
2K PLUS INTERNATIONAL SPORTS MEDIA (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 21 MARCH 2024 Staff costs (continued) The avèrage number of persons employed by the Charitable Company during the year was a5 follow5.' 2024 2023 Employees No emF4oyee e1Ved remuneration amounting lo more than £60.000 in eith8r year. Tolal employee benefits of key management personnel came to £19.693 (2022.. £18,458). This figure include5 gross salary, employer Nl conlribulions and employer penSlDll COntribulion5. Trust8e8' remuneratlon and expensèg During the year, no Trustee5 received any remuneration or other benefits (2023- £NILJ. During the year ended 31 March 2024. no Trustee expenses have been incurred (2023- £NIL)- Page 18
2K PLUS INTERNATIONAL 8PORTS MEDIA {A company Ilmffited by guarantepl NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible flxed assets Offlce •qulpmant Cost or valvatlon At 1 April 2023 Disposals 5.886 {4051 At 31 March 2024 5,480 Depreclatlon At 1 April 2023 Charge for the year On disposols 1304) At 31 March 2024 5,062 Net book value At 31 Mah 2024 418 At 31 2023 925 11. Creditors: Amounts falling due withln one year 2024 2023 Other credilors AGuuals and deferred inGome 447 3.384 7,191 7,191 3.831 Page19
2K PLUS INTERNATIONAL SPORTS MEDIA IA Company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 Ststement offunds Statement offunds- currenl year Balance at 31 March 2024 Balancè at I Aprll 2023 Income Expendlture Unrestrlcted fund5 General Funds 17,204 S2,283 160,7951 8,692 Restricted funds Russ Bravo AFCON Rugby Wodd Cup PSFA 1 Oth Annlversary 212 12121 17,500 17,025 12.01)O) 7,500 7,025 2,000 212 16,525 116,7371 Tolal of funds 17N16 68,808 (77,5321 8,692 Restricted funds were received In the year for various sporting events, these were fully spent during the year. Page 20
2K PLUS INTERNATIONAL SPORTS MEDIA IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMETrrrs FOR THE YEAR ENDED 31 MARCH 2024 12. Statement of funds Icontlnuedl Statement of funds . prlor y•ar 8alance al 31 March 2023 Balance 8t l Apiil 2022 Incwe Exp8ndilur@ Unrestrtcted funds General Funds 4, 760 80, 786 168,342) 17.204 Rèstrlcted funds Russ Bravo 212 212 Total of funds 4,972 80, 786 f68,342J 77,416 13. Analysls of nel assets between funds Analysis of net assets between funds - Current period Unrestrlcted funds 2024 Total funds 2024 Tangible fixed assets Current assels Creditors due within one year 418 15,465 17.191) 418 15,465 17.1911 Total 8,692 8,692 Page 21
2K PLUS INTERNATIONAL SPORTS MEDIA (A company lifftited by guarantee) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 13. Analysis of nei assots bètween funds (continued Analy$l$ of nel assets between funds - prfor period Restncted Unrestricled lunds funds 2023 2023 Total funds 2023 Tangible red assets Current assets 925 20,tIo (3,831) 925 20.322 (3,831) 272 Credtlors due wthin one year Total 212 17,204 17,416 14. Penslon commltments The charitable Gompany operates a ddined contribution pension scheme. The assets of the schem8 are held separately from those of the charity in an independently administered fund. The pension cost charge represents conlTibutions payable by the charity to lund and amounted to £37512023.. £353). The pens costs were fully paid at year end. 15. Related party tran8actlons The Charitable Ccffnpany has not entered into any related party transaction during the year, nor are there any outstanding balanGes owing beiween related parties and the CharitatrAe Cornpany al 31 March 2024. Page 22