Registered number: 4286195 Charity number: 1091941 2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 WR 4,& Partners Protecting your future.
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Charitable Company, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities 10 Balance sheet Notes to the financial statements 13-21
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees K Asare (appointed 5 February 2025) A E Golding. Chair P Musembi Rev S Vunipola (resigned 22 July 2024) Company registered number 4286195 Charity registered number 1091941 Registered office Passion For Sport 218 York Street Belfast BT15 1GY Company secretary L Hamilton Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Bankers National Westminster Bank PIC 5 Broadwater Street East Worthing West Sussex BN14 9AB Solicitors Griffith Smith Farrington Webb 47 Old Steyne Brighton BN1 1NW Page 1
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the Charitable Company for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the cuent statutory requirements, the requirements ofthe charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The trustees meet four times a year for fOnal minuted meetings and responsible for strategic decisions which are implemented by the Charity's staff. The Trustees have considered the latest Charity Govemance Code for small charities and are using this in their ongoing assessment and improvement in the running of Passion for Sport {the registered working name of 2K Plus Intemational Sports Media). Passion for Sport exists 'to advance the Christian religion by reporting, writing and broadcasting upon sporting events, activities and personalities from a Christian perspective and publishing and broadcasting such material through radio, television, print, the intemet and other such media as the Trustees may from time to time decide." In setting objectives and planning for activities, the Tnjstees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB2}'. b. Strategies for achieving objectives The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the Charity should undertake. The priority is on the following areas: Reaching in= To grow and develop stakeholder partnerships aligned to our strategic objectives - advancing the sharing of the Christian worldview especially to our target audience of sports fans., Reaching out.. To establish a model of increased engagement wth our audience of people unreached or unmoved by faith through continued improvements in quality of production and creative undertaking- Page 2
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities (continued) c. Activities undertaken to achieve objectives During the year, the Trustees continued to implement the strategic priorities agreed in the previous planning ycle, with particular focus on developing student engagement pathways, strengthening UK operations, and expanding African partnerships. In April 2024, the charity commenced a second student placement initiative in partnership with Greenville College, USA. The purpose of this placement was to develop a comprehensive 'Case for Support" for future activity in the United States, with particular reference to engagement opportunities surrounding the FIFA World Cup 2026 and the Los Angeles Summer Olympic Games. The student team consisted of eight undergraduates studying across a range of academic disciplines. Each participant was actively involved in collegiate sport and utilised their neorkS to establish focus groups to infomi the research. The team evaluated the potential benefits and implications of applying for 501lcl{31 charitable status in the United States and considered alternative structures for financial support and partnership development. The report was completed and published internally in the final quarter of 2024 and is currently under review by the Board. As a continuation of the strategic plan to expand UK-facing content. the Board commissioned the production of a second podcast series exclusively for a UK audience. The programme was branded Sports Stories Weekly, aligning it with the charity's exhibib'on brand, Sports Stories SpaS. Pre-production commenced in July 2024 and recording of the first series concluded in Dember 2024, including coverage of the Summer Olympic Games and other major sporting stories. The Trustees were pleased to appoint Tom Middler as Series Producer and Editor. Mr Middler brings professional experience from work undertaken wth UEFA and the IOC, together with a strong personal commitment to sport and faith-based storytelling. He assembled a presenting team comprising Russ Bravo and David Garratt, forming a three-person presenting fom)at. Mr Garratt is an ordained minister in the Church of England, bringing pastoral experience to the programme's tone and engagement. In May 2024, Mr Hamilton attended The Podcast Show in London to gain further insight into emerging technologies and production processes relevant to the charivs programming. During this visit, he met with Mr Daniel Jinadu, founder of F3 Football. a UK-based faith-oriented chanty operating in the football sector. Given the alignment in vision and objectives beeen the two organisations, initial discussions were held regarding the potential for collaborative activity in 2025. In September 2024, Kwame Asare was appointed as Africa Development Manager for the charity's flagship programme, Planet Sport Football Africa. Mr Asare is an ordained pastor in Ghana and a longstanding advocate for sports ministry across the continent. He has undertaken an initial strategic review of the role with a three-year horizon, wth Year One focused on building and strengthening partnerships wthin Ghana, and Years Two and Three aimed at developing a framework for wider grovrth across additional African territories. During the year. Kukua Asare. formedy Afn'ca Development Manager, was COwOPted to the Board of Trustees following her relocation to Jersey to pursue a professional career in accountancy with PWC. The Trustees believe that Ms Asare's ministry experien. combined wth her professional financial expertise, represents a valuable addition to the governance and strategic oversight of the charity. The Trustees also record their gratitude to Rev Singa Vunipola. who stepped down from the Board during 2024 in order to dedicate more time to her family commitments. The Trustees express sincere thanks for her contribution to the charity's work. particulady in relation to previous rugby-focused outreach initiatives, and look forward to Continuing to benefit from her wisdom and counsel on an informal basis. Page 3
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perfomiance Review of activities The Trustees are encouraged by the progress made during the year in implementing the charity's strategic objectives. The Greenville College placement has provided substantive research and analysis to inform the Board's consideration of future United States engagement. The intemal publication of the Case for Support has created a structured foundation for decision-making regarding potential legal structures, fvndraising approaches, and international expansion opportunities linked to forthcoming global sporting events. The launch of Sports Stories WeeY represents a significant development in the charity's UK outreach. The completion of the first series has established a replicable production framework and strengthened the organisation's capacity to deliver high-quality, faith-infomied sports media content to a domestic audience. The Trustees believe that the appointment of an experienced production lead and presenting team has enhanced the professionalism and credibility of the programme. The appointment of Kwame Asare as Africa Development Manager provides renewed focus and leadership for Planet Sport Football Africa. Early engagement wthin Ghana has begun to identify partnership opportunities that may support both audience growth and long-temi sustainability. The Trustees recognise that the three-year framework adopted for this role offers clarity and measurable progression for African expansion. Engagement at The Podcast Show and dialogue v4ith F3 Football has opened potential pathways for collaboration and knoedge-sharlng within the UK sports ministry sector. While discussions remain exploratory, the Trustees believe such partnerships may strengthen impact and reduce duplication of effort. b. Fundraising activities and income generation The Trustees remain grateful for the continued support of individual donors and organisational partners throughout the year. Consistent with previous policy. the Trustees have prioritised the development of non-restricted income streams to provide operational flexibility, while recognising that certain projects may attract designated support. In January 2025, the charity approached a UK-based clothing manufacturer regarding potential lead sponsorship of Sports Stories Weekly. Following careful consideration by both parties, it was mutually agreed that an agreement could not be reached at that time. The Trustees continue to explore sponsorship opportunities for the programme and remain optimistic that a suitable partner may be secured in 2025. In March 2025, discussions commenced wth Diaspora Insurance conceming potential sponsorship of Planet Sport Football Africa. A meeting was held at the companys headquarters in Birmingham, during which a statement of terms was agreed in principle for Diaspora Insuran to become lead sponsor of the programme. Discussions are ongoing to finalise the agreement. Representatives from Diaspora Insurance have arranged to visit the charity's production studio in Zimbabwe and meet wth producer Steve Vickers in July 2025. Both organisations have expressed a desire to establish a long-term partnership and have initiated preliminary planning in relation to the African Cup of Nations tournament in December 2025. The Trustees recognise the importance of securing stable sponsorship arrangements to underpin programme delivery and reduce reliance on voluntary donations. Sponsorship development therefore remains a key priority for the forthcoming year. Page 4
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expectstion that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going cOnM basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves policy The Charity aims to build reserves sufficient to meet e1ve weeks, expenditure. Free resetves at the year*nd showed a surplus of £29.925 (2024.. surplus of £7,856), calculated as the unrestricted funds, less the tsngible fixed assets. This level is above the stated aim of twelve weeks expenditure. . Principal risks and uncertainties As with most charities, the ongoing UK economic situation presents challenges for our donors but we monitor very closely our income and expenditure situation. in case adjustments need to be made to our spending. Page 5
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management . Constitution 2K Plus International Sports Media is registered as a charitable company limited by guarantee in England and Wales and was set up by a Trust deed. b. Methods of appointment or election of Trustees The management of the Charitable Company is the responsibility of the Trustees who are elected and c(topted under the tems of the TnJst deed. . Organisational structure and decision4naking policies The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Articles of Association one third of the Trustees are required to retire at the AGM, those longest in office retiring first and the Choi beeen any of equal service being made by drawing lots. Trustees are required to meet at least twce a year and a quorum at each meeting is three Trustees. d. Financial risk management The Trustees have assessed the major risks to which the Charitable Company is exposed. in particular those related to the operations and finances of the Charitable Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The Trustees continue to assess risks that the charitable company faces at their regular Trustees, meetings. No significant risks were identified during the year. Public liability cover is maintained at £5 million. Plans for future periods Looking ahead, the Trustees wll continue to prioritise audience development, strategic partnerships and sustainable income generation. Subject to Board approval of the Greenville College report. further exploration of United States engagement, including potential structural and fundraising mechanisms, will be undertaken. The charity wll assess the feasibility and timing of any formal expansion in advance of major intemational sporting events. The Trustees intend to build upon the initial success of Sports Stories Weekly, refining distribution channels and exploring sponsorship and syndicab'on opportunities to maximise reach and financial sustainability. Within Africa, Year One objectives for the Africa Development Manager will be reviewed and measurable targets established for Year Two, with particular emphasis on scalable partnership frameworks. The charity will continue to pursue sponsorship discussions and explore aligned partnerships wthin the UK sports and faith sectors to strengthen long-temi financial resilience and missional impact. Page 6
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limrted by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Segmental information The charitable company operates woddwide. The majority of its incoming resources are generated in the UK. There was no Income this year received from the USA. Statement of Trustees, responsibilities The Trustees (who are also the directors of the Charitable Company for the purposes of company lawl are responsi ble for preparing the Trustees. report and the financial statemenls ln accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Pr3clice). Company law requires the Trustees to prepare financial statements for each financial Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charitable Company and of its incoming resources and application of resour5, including its income and expenditure. for that peri. In preparing these financial statements, the Trustees are required lo.. select suitable accnunting policies and then apply them consistently- observe the melliods and principles of the Charities SORP {FRS 102)., make judgments and accounting estimates thal are reasonable and prudent., state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial stalemenls- prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are respon51ble for keeping adequate accx)unting records that are SLJfficienl to Show and explain the Charitable Company's transactions and disclose with reasonable accuracy at any bme the financial position of Ihe Charilable Company 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 Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularib'es. Approved by order of the members of the board of Trustees and signed on their behalf by: E A Golding Chair of Trustees Date.. Iq-ob-2olL Page 7
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's report to the Tntstees of 2K Plus International Sports Media ('the Charitable Company. I report to the charity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2025. Responsibilities and basis of report As the Trustees of the Charrtable Company {and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wth the requirements of the Companies Act 2006 {'the 2006 Act'i. Having satisfied myself that the accounts of the Charitable Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charitable Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In arrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Page 8
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe- accounting records were not kept in respect of the Charitsble Company as required by section 386 of the 2006 Act,. or the accounts do not accord wth those records.. or the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention 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 wth Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitable Company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitsble Company and the Charitable Companys Trustees as a body, for my work or for this report. Dated. 2410312026 T Lunt BA FCCA MTPI WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG Page 9
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Investments 84,622 84,622 68,797 11 Total income 84,625 84,625 68, 808 Expenditure on: Charitable activities 63,184 63,184 77,532 Total expenditure 63,184 63,184 77,532 Net movement in funds 21.441 21.441 (8, 724) Reconciliation of funds: Total funds brought forward Net movement in funds 8,692 21,441 8,692 21,441 17,416 (8, 724) Total funds carried fonNard 30,133 30,133 8, 692 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 21 form part of these financial statements. Page 10
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) REGISTERED NUMBER: 4286195 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets 208 418 208 418 Current assets Cash at bank and in hand 32,752 15,465 32,752 15,465 Current liabilities Creditors.. amounts falling due Ythin one year 10 12,827) (7, 191) Net current assets 29,925 8,274 Total assets less current liabilities 30,133 8, 692 Total net assets 30,133 8, 692 Page11
2K PLUS INTERNATIONAL SPORTS MEDIA IA company IiTnited by guarantee REGISTERED NUMBER: 4286195 BALANCE SHEET {CONTINUED) AS AT 31 MARCH 2025 2025 2024 Note Charity funds Reslricled fvnds Unrestricted funds 11 11 30,133 8, 692 Total fijnds 30,133 8.692 The Charitable Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not iequired the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complyng with the requirements of the Act with respecl to accounting records and preparation of financial statements. The financial slatements have been prepared in accordance with the provisions applicable lo entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their beha5f by: JJ E A Golding Chair of Trustees Date.. 9_03-2olG. The notes on pages 13 to 21 form part of these financial statements. Page 12
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiation 2K Plus Intemational Sports Media is a charitable company. limited by guarantee, and Resgistered with Companies House in England and Wales. The members of the company are the Trustees named on page 1. In the event of the charitable company being wound up. the liability in respect of the guarantee is limited to £1 per member. Accounting policies 2.1 Basis of preparation of financial statements The financial ststements have been prepared in accordance wth the Charities SORP (FRS 102) Accounting and Reporting by Charities= Stalement of Recommended Practice applicable to charities preparing their accounts in accordance Yth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 2K Plus International Sports Media 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. 2.2 Going concem 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 continues to adopt the going conrn basis in preparing its financial statements. The Charity is considered to be well positioned given the current environment no impact on the going concern basis of the financial statements. 2.3 Income All income is recognised once the Charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes bLrt not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is defeed and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Page 13
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty. 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 Charitable COmpanS objectives. as well as any associated support costs. All expenditure is indusive of irrecoverable VAT. 2.5 Tangible fixed assets and depreciation 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 usefiJl lives, using the straight-line method. Depreciation is provided on the foll0Yng basis= Office equipment 25% 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 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 wll be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNices 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 14
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinued) 2.8 Financial instruments The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wth the exception of bank loans which are subsequendy measured at amortised cost using the effective interest method. 2.9 Pensions The Charitable Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitable Company to the fund in respect of the year. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance specific restrictions imposed by donors or which have been raised by the Charitable Company 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 15
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Donations 9,622 75,000 9,622 75,000 7, 254 61,525 18 Grants Similar incoming resources 84,622 84,622 68,797 Total 2024 16,525 52,272 68, 797 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2025 2025 Total 2025 Total 2024 Charitable activities 63,184 63,184 77,532 Total 2024 16,737 60, 795 77,532 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Charitsble activities 31,486 31,698 63,184 77,532 Total 2024 39, 790 37, 742 77, 532 Page 16
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities (continued) Analysis of direct costs Charitsble activities 2025 Total funds 2025 Total runds 2024 Sporting events Planet Sport Football Africa Other direct production costs 12,566 18,455 465 12,566 18,455 465 13,047 19,296 7,447 31,486 31,486 39, 790 Total 2024 39, 790 39, 790 Analysis of support costs Charitable activities 2025 Total funds 2025 Total funds 2024 Staff costs 22,978 210 22,978 210 26, 242 406 Depreciation Membership and subscriptions Insurance Bank charges Office costs Travel and accomodation Publicity and promotion Legal and Professional Loss on disposal Websites. licences & software 184 100 1.023 518 2,123 129 1,217 2,098 1,023 518 2,123 129 1,217 2,098 997 593 1, 829 1,029 2,431 1, 843 101 2,171 1,218 1,218 31,698 31,698 37, 742 Total 2024 37, 742 37, 742 Page 17
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Independent examinerfs remuneration 2025 2024 Fees payable to the Charitable Company's independent examiner for the independent examination of the Charitable Company's annual accounts 2,064 1,890 staff costs 2025 2024 Wages and salaries Contribution to defined contribution pension schemes 22,587 391 25,867 375 22.978 26, 242 The average number of persons employed by the Charitable Company during the year was as follows: 2025 No. 2024 No. Employees No employee received remuneration amounting to more than £60,000 in either year. Total employee benefits of key management personnel came to £19,669 (2024.. £19,275). This figure includes gross salary and employer pension contribLrtions. Trust8es' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 18
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Office equipment Cost or valuation At 1 April 2024 5,480 At 31 March 2025 5,480 Depreciation At 1 April 2024 Charge for the year 5,062 210 At 31 March 2025 5,272 Net book value At 31 March 2025 208 At 31 March 2024 418 10. Creditors: Amounts falling due within one year 2025 2024 Accruals and deferred income 2,827 7,191 Page 19
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure Unrestricted funds General Funds 8,692 84,625 (63,184) 30,133 Statement of funds - prior year Balance at 31 March 2024 Balance at l Apnl 2023 Income Expenditure Unrestricted funds General Funds 17.204 52,283 (60, 795) 8, 692 Restricted funds Russ Bravo 212 (212) (7, 500) (7, 025) (2, 000) AFCON Rugby Wodd Cup PSFA 10th Anniversary 7,025 2,000 212 16,525 (16,73T) Total of funds 17,416 68,808 (77, 532) 8, 692 Page 20
2K PLUS INTERNATIONAL SPORTS MEDIA (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Analysis of net assets between funds Analysis of net assets betn funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due wthin one year 208 208 32,752 (2,827} 32,752 (2,827) Total 30,133 30,133 Analysis of net assets betn funds - prior year Unrestncted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wthin one year 418 418 15,465 (7, 191) 15,465 (7,191) Total 8, 692 8, 692 13. Pension commitments The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the chanty in an independently administered fund. The pension cost charge represents contributions payable by the charity to fund and amounted to £375 (2023= £353). The pension costs were fully paid at year end. 14. Related party transactions The Charitable Company has not entered into any related paty transaction during the year, nor are there any outstanding balances ¢)wing between related parties and the Charitable Company at 31 March 2025. Page 21