OpenCharities

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

2020-07-31-accounts

Registered number: 05538901 Charity number: 1111612

SPORTS AID TRUST

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

SPORTS AID TRUST

(A company limited by guarantee)

CONTENTS

Page
Chair’s Report 1
Support from HRH The Duchess of Cambridge 3
Trustees’ Report 4
Reference and administrative details of the charity, its trustees and advisers 24
Independent auditor's report 26
Consolidated statement of financial activities 30
Consolidated balance sheet 31
Charity balance sheet 32
Consolidated statement of cash flows 33
Notes to the financial statements 34

SPORTS AID TRUST

(A company limited by guarantee)

CHAIR’S REPORT FOR THE YEAR ENDED 31 JULY 2020

The 2019-20 period has been one of significant change and challenge. Some of the change was proactive and planned by the Trust, but some was in response to the Covid-19 pandemic and its far-reaching effects. The challenge has been to consolidate SportsAid’s operational activity and navigate a way through such unprecedented times.

Maintaining the capacity to make awards to young sports people proved more difficult. The specific funded programmes (with restricted Lottery funding via Sport England) were able to continue without much change, but SportsAid’s core charitable activity was diminished. In a typical year, the Trust would plan to make SportsAid athlete awards to around 800 or so young people, but in the period this was nearer half that number. In response to the challenges posed by the pandemic across many sectors, a number of SportsAid’s corporate partners chose to put their support on hold for 2020 and the funds normally generated from various events, particularly with the blanket cancellation of challenge events such as the London Marathon and the Ride 100, was non-existent.

The postponement or cancellation of various major sporting events in the period has created something of an existential threat to many sports and their national governing bodies. It has tested the motivation and resolve of many young athletes, but with the right support and encouragement, the feeling is that they will adapt and bounce back. SportsAid can play a crucial role in this recovery, helping the next generation to readjust their goals, refresh their resolve and reach their personal best. This a role that underlines SportsAid’s contribution to sport and society.

The Trustees were very pleased with manner in which the Trust was able to adapt and respond to these challenges. Business continuity was achieved very successfully. The initial focus was on ‘people and purpose’, ensuring that all employees were safe, connected and able to work effectively from home; and being clear about workloads and responsibilities. Once this was established, a more familiar working routine was developed enabling the Trust’s activities to continue without the need for any of the executive team to travel or visit the office since March 2020. The implementation of Office365 has greatly improved the effective and efficient access to shared information and data across the executive team.

The reorganisation of the executive team, with the recruitment of a new Head of Fundraising in 2019 and a Corporate Fundraising Manager in 2020, has resulted in a refreshed and revitalised fundraising strategy, SportsAid has continued to develop other areas of fundraising in an increasingly competitive environment. There is a greater focus on seeking support from trusts and foundations as well as cultivating connections with major individual donors. The continued commitment of the Trust’s current commercial partners, supporting trusts and foundations, challenge event participants, donors, supporters and volunteers is hugely valued and greatly appreciated during these unsettling and uncertain times.

The ability to quickly adapt SportsAid’s core offer has been impressive. For example, changing the delivery of SportsAid’s athlete-parent support workshops to an online platform was seen as very positive, ensuring that the charity could reach out to, and keep contact with, the young sports people and their families wherever they were isolating during the pandemic. Their world of training, travel and competition essentially came to a standstill overnight and the effect on their sense of identity, motivation and general wellbeing was quite profound, particularly during the first lockdown. The provision of regular support for mental wellbeing was a priority, giving free access to a qualified cognitive behavioural therapist for athletes and parents, which was very well received. This switch to effective online support is something to continue as part of a blended, online or in-person, offer for the future.

Good governance continues to remain a high priority. Three new trustees, with valuable skill sets including finance, strategic planning and digital marketing as well as an athlete’s perspective, were appointed as a result of an open Board recruitment process in conjunction with a diversity recruitment specialist, making the SportsAid Board of Trustees one of the most diverse in the sports charity sector. The charity has maintained its compliance at the highest ‘Tier 3’ level of the Code for Sports Governance and having a clear reserves policy has supported continued financial stability and operational integrity.

1

SPORTS AID TRUST

(A company limited by guarantee)

Looking forward, there is cause for cautious optimism. The longevity of several key partners and supporters, particularly Sport England, has proved vital and the continued Patronage and advocacy of HRH The Duchess of Cambridge is a huge boost. The very effective move to the online provision of workshop support reinforces the opportunities of greater digitalisation in SportsAid’s operational model. Also, the early results from a more focussed fundraising strategy are encouraging and SportsAid’s offer is evolving to support this. SportsAid being appointed as the delivery partner to Commonwealth Games England for the innovative ‘Team England Futures’ Programme at the Birmingham 2022 Commonwealth Games is very exciting and the working partnership with Sport England, seeing SportsAid as a critical pathway partner, bodes well. The Trust is stable, has adapted well during an unprecedented period and is ready to make the most of better times ahead.

Mike Westcott 19 February 2021

Chair and Trustee Sports Aid Trust

2

SPORTS AID TRUST

(A company limited by guarantee)

Since 2013, HRH The Duchess of Cambridge has been an active and committed Royal Patron to SportsAid, attending several flagship engagements to meet young athletes, parents and supporters.

Here seen at the London Olympic Stadium in February 2020 (pre-pandemic), meeting athletes and chatting with parents.

3

SPORTS AID TRUST

(A company limited by guarantee)

The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and financial statements for the year ended 31 July 2020. The financial statements have been prepared in accordance with the accounting policies set out therein and comply with the charity’s memorandum and articles and applicable law.

ACHIEVEMENTS AND PERFORMANCE

Review of activities

The Trust operates in three main areas to recognise and help talented young sports people: through SportsAid athlete awards; through the Talented Athlete Scholarship Scheme (TASS); and through Backing the Best (BTB). Each of these support programmes provides an element of financial support, but they differ somewhat in the various extra forms of support made available to the beneficiaries, as outlined below:

During the 2019-20 award cycle the Trust distributed £322,000 in awards to 342 young talented athletes across 56 sporting disciplines, including 17 disability sports. In addition, a further £35,000 was deployed in the provision of workshops to athletes and their parents. Of these athletes, 49% were male, 51% were female; 30% were athletes with a disability; and 23% were athletes from ethnically diverse communities (BAME).

The prevailing economic uncertainty pre-pandemic and the compounding effects of the pandemic itself during 2020, resulted in fewer athletes being supported than in previous years; some 38% of nominees being supported with a monetary award. This was partly as a consequence of the Trust having less award funding available and partly as a prudent response to the prevailing circumstances, considering the likelihood of changing athlete needs during the restrictive periods of lockdown.

In the process of recognising and helping these young people, SportsAid gathers information, feedback and insight from beneficiaries and their families in order to support the future case for funding and help to assesses the impact and effectiveness of the support provided by the charity – a particularly telling statistic over recent years is the growth in the average annual costs of a talented young sports person, rising from £5,022 to £7,266 (from 2010 to 2019) – an increase of some 45% - costs typically borne almost entirely by the parents. Interestingly, during 2020 initial research suggests these athlete costs fell as a direct result of the pandemic and the day-to-day restrictions being imposed across the country, particularly on travel and sporting activity. For example, their average weekly mileage travelling to train or compete had fallen from around 800 miles to 50 miles.

Other feedback also illustrates the degree of commitment shown by these young people and their families and how adaptable they have been during the pandemic in finding ways to train safely and stay fit. Some

4

SPORTS AID TRUST

(A company limited by guarantee)

have had to reassess their goals and ambitions and others feel their resolve has been strengthened and are more determined than ever to succeed.

From the athletes responding to SportsAid’s annual athlete survey for 2020, the following selection of findings are considered pertinent:

In pursuing their ambitions in their sport, these young people are developing their experiences, their character and their values. One of the Trust’s objectives is to share such information more widely in order to illustrate some of the challenges and barriers faced by these young sports people and their families as a means of generating support to help them.

In addition to the provision of financial awards to athletes, SportsAid offers places to athletes and parents at workshop days, providing the opportunity to meet various subject experts in areas such as mental wellbeing, practical sports nutrition, communication skills, lifestyle planning and performance management as well as the chance to meet with staff of the companies supporting SportsAid. These workshops also provide a unique opportunity for athletes and parents from different sports to meet and discuss their common experiences and ambitions. During the first half of 2020, when the country went into the first lockdown period, SportsAid was able to transfer the provision of these athlete-parent workshops online, utilising the Zoom meeting platform to provide access to these sessions wherever the athletes were isolating. The Trust was able to offer 30 of these online sessions, free of charge, with around 650 athletes and parents benefiting.

“I think SportsAid have been fantastic. The financial support has enabled me to buy equipment I would normally have access to in training so I can have the same set up at home. This has been great for both my mental and physical health and well-being. The [online] sessions have been fantastic providing insightful and motivational content, I couldn’t have been able to do some of the things I did if it wasn’t for SportsAid this year.” A young athlete being supported by SportsAid

5

SPORTS AID TRUST

(A company limited by guarantee)

Around 90% of the survey respondents said they were aware of these online sessions and more than half of the athletes said they had attended 1-5 sessions. The most attended sessions were on mental wellbeing, managing restful sleep and practical nutrition.

As part of the support from the Trust, the young athletes are also invited to be involved with various discussion panels and other engagement activities, sometimes linked to SportsAid’s supporting partners. A particular area of interest is the SportsAid ‘buddy scheme’ in which members of staff from the Trust’s supporting organisations, particularly the corporate sector, are encouraged and supported to take on a mentor type role with one or two young athletes. This scheme, managed and monitored by Trust staff, is an excellent personal development opportunity for all involved and is a safe introduction for the athlete to practise their networking skills and build their contacts and confidence in telling their story. Support for this scheme was also able to move online, encouraging and supporting the ‘buddies’ to remain connected and engaged with the young sports people during the pandemic.

This wider support from SportsAid is an important factor in helping athletes and parents to consider their approach to personal development and extend their experiences and confidence and is considered a key part of the Trust’s offer and something to be further developed – during the period, the transition to online sessions created more accessibility (flexible timings; no need to travel; free of charge) and a wider variety of topics and expert presenters was available. Looking forward, the Trust anticipates taking a blended approach with this support, with a balance of in-person and online sessions, pandemic restrictions allowing.

Another important aspect of the Trust’s work has been to continue to develop its profile, influence and advocacy in the sport and charity sectors, to better represent these young people and their families and to position the Trust as an authoritative and leading source of information and insight. With the pandemic in mind, SportsAid actively supported Sport England with their initiative to bring the talent sector together on a series of ‘Pathway People’ meetings, to offer support and share ideas in maintaining contact with the young sports people and their parents during the various lockdowns. Also, working closely with Sport England and an independent research company, SportsAid was able to share the findings of a groundbreaking athlete experience research project across the sector, offering insight to the sports on how best to involve and engage athletes and parents. Also in the period, through an open tender process the Trust was appointed by Commonwealth Games England as the delivery partner of an exciting new programme called ‘Team England Futures’, an initiative to provide a unique and inspirational experience for emerging talented young people in the build up to, and during, the 2022 Commonwealth Games in Birmingham. This programme is seen as an excellent opportunity for the Trust to further underline its vital role in providing support and personal development opportunities for a richly diverse cohort of young people from across the country.

6

(A company limited by guarantee)

SPORTS AID TRUST

SportsAid Week, held in September each year, is the Trust’s dedicated week of fun and fundraising to engage with more people and to raise the awareness and understanding of the Trust’s work. Since its inception in 2016, the Trust’s 40[th] anniversary year, it has become a firm fixture in the calendar of activities and events. SportsAid Week creates a focal point of interest and effort and provides a platform to develop the charity’s messaging and engagement with a variety of its supporters. A central element of SportsAid Week is the #MyMiles Challenge, an initiative to encourage people – such as pupils in school or colleagues in workplaces – to commit to be more active together, log the miles they complete and share their activity through social media. This could be by walking, running, swimming, cycling or rowing as a gesture of solidarity with the young athletes who are training throughout the year. Whilst financially SportsAid Week 2019 was not as successful as planned, engagement in the #MyMiles Challenge grew significantly, from a total of 5,741 #MyMiles in 2017 to a total of 50,001 in 2019. Planning for the 2020 edition of SportsAid Week had to adjust to the prevailing restrictions of the pandemic, so the approach was taken to simply feature the various activities that athletes, families and supporters had tried during lockdown, sharing SportsAid’s messaging across the groups.

A boost to SportsAid Week is expected from the 2020 edition of the Royal Bank of Canada ‘Ride for the Kids’, a cycling sportive in aid of SportsAid first introduced in 2018, which has had to be postponed from June 2020 and has to adapt to being a ‘virtual’ ride with small groups of cyclists. It is hoped the change in format does not detract from the appeal of what has been a very successful event.

The Trust’s primary purpose is to recognise and help talented young sports people. To support this purpose, the Trust operates as a fundraiser and award maker at a national level. The support provided to SportsAid by its many partners and donors enables the charity to help young people at a crucial time in their development, both as young individuals and as sports people. Most notable in supporting the Trust’s work have been the donations of Royal Bank of Canada, the Thompson Family Charitable Trust, GVC (now Entain), Nelsons and a variety of other trusts and foundations who have committed to help SportsAid in the period. The Trust is also extremely thankful for the valuable support provided by Eversheds-Sutherland and Hogarth Worldwide.

The range of challenge events offered to supporters continues to evolve despite a very competitive fundraising environment. Of particular note each year are the teams of supporters that undertake the London Marathon and the Ride 100 cycle sportive in aid of SportsAid, making a huge personal commitment for which the Trust is very grateful. During the period, the impact of the pandemic meant that these large scale participant challenge events could not happen in the usual format, eg the marathon was postponed to October 2020. Whilst this was a significant disappointment it was entirely understandable given the circumstances.

7

(A company limited by guarantee)

SPORTS AID TRUST

In response, a unique new ‘virtual’ challenge was created by a partnership of major event organisers in an attempt to provide support for the charity sector. SportsAid took the opportunity to become part of the ‘2.6 Challenge’ and encouraged its various supporters to get involved and raise as much as they could for the Trust, with some welcome success.

Whilst several of the Trust’s events had to be cancelled during the period due to the pandemic, it was possible to hold a few flagship events before the social distancing and lockdown restrictions came into place. SportsAid’s annual One to Watch Award was held in November 2019, with a new, less formal format and with lots of opportunity to hear from and interact with the top ten shortlisted athletes – something attendees in previous years had asked for. The event was very well received and the winner for 2019 was named as para-swimmer Ellie Challis, having her award presented by the Chair of UK Sport and SportsAid alumna, Dame Katherine Grainger. Also, the SportsAid Fellowship Dinner was held at the House of Commons, hosted by Baroness Tanni Grey-Thompson DBE and in early 2020, the Trust’s Royal Patron, HRH The Duchess of Cambridge attended an engagement at the London Olympic Stadium to recognise the role of parents in supporting talented young sports people. These events serve to stimulate awareness and engender greater engagement with the Trust’s work.

SAF Promotions Limited, the Trust’s trading subsidiary, returned a small operating loss during the period; the exit from the pandemic and a return of some degree of economic confidence should see this return to a surplus as in previous years.

Notwithstanding the significant challenges and uncertainty of the pandemic, the Trust continues to make a significant contribution to the development of young sports people and the wider success of British sport.

� TASS

During the year ended 31 July 2020 £2,480,987 was distributed as part of the TASS programme to support athletes and to strengthen the TASS network of institutions and practitioners. An element of this programme funding award from Sport England was used to provide management and operational

8

(A company limited by guarantee)

SPORTS AID TRUST

support. A total of 648 athletes were supported through the TASS programme in the year, from 33 different sports. The athletes comprised 53% male, 47% female; 17% from ethnically diverse communities (BAME); and 13% with a disability.

The partnership with the Football Association is worthy of note. It continues to grow in supporting more young female footballers across the country to continue with their education as well as their footballing development; from 93 in 2017-18 to 162 in 2019-20. The TASS network, currently comprising 34 delivery sites, is fundamental to the scheme, providing geographical and educational choice to athletes. The Dual Career Accreditation Scheme, introduced in 2016-17, is a central platform for this network, providing a framework to assess and recognise an educational institution’s commitment to supporting studentathletes, especially in providing some flexibility with the academic side of their development, ultimately benefitting many more young people than simply those being supported directly through TASS.

Despite some delivery sites having reduced staff, all were still able to deliver an adapted version of the TASS delivery model remotely and overall, the range, quality, and creative nature of the provision available to athletes was impressive. The speed at which the sites managed to adapt to the pandemic to work remotely was equally as impressive, meaning there was little to no break in service for TASS athletes. Being part of the TASS network for some sites proved to be a key factor in not having to furlough staff.

Alongside the move to remote working, TASS hosted three monthly sessions with the sites, enabling the whole network to get together as a group to discuss delivery models, inductions, gym re-opening schedules and to share best practice, which were well received.

Some relevant statistics include:

In total the TASS team was able to provide 657 different opportunities for practitioners and national governing body representatives to develop their professional skills and competencies during lockdown including practitioner calls, workshops, individual continuous professional development (CPD) opportunities, UK Coaching subscription, an online weightlifting course and the TASS Conference. The team also led a weekly practitioner call to discuss a variety of current topics including working remotely, sharing of best practice and resilience. Typically between 20-30 practitioners attended the call and the information collected was disseminated to other practitioners and sports leads.

The TASS team also hosted a virtual network event over two days, during which twenty-one different sports delivered their ‘What it Takes to Win on TASS’ models to around fifty TASS practitioners. These were very well received and have been recorded to share on the TASS YouTube site. The scheme also plays a leading role in coordinating and aggregating relevant research in the area of supporting personal development in sport and education, helping to avoid duplication and wasted resources.

The period saw the completion and dissemination of findings from a thorough TASS stakeholder consultation process by an independent firm of consultants. This consultation proved useful in gathering views and feedback from a broad range of stakeholders, with considerations on the perceived strengths and weaknesses of the scheme as well as pointers towards the opportunities and challenges it may face in the coming years. The TASS Management Group was given responsibility to review these findings and develop a plan to evolve the scheme in conjunction with the emerging Sport England Talent Strategy.

9

SPORTS AID TRUST

(A company limited by guarantee)

In a similar vein to direct support from SportsAid, being involved with TASS enables and encourages wider personal development as well as the direct help to succeed in sporting and academic endeavours.

The raison d’être of the TASS programme is the recognition and support of a dual career option for talented athletes, enabling them to continue their academic development whilst progressing in their chosen sport. The wider sports sector continues to show a growing interest in the area of athlete

10

SPORTS AID TRUST

(A company limited by guarantee)

wellbeing and in delivering a duty of care to sports people to support a positive and enriching experience from being involved with sport – the TASS programme directly contributes to, and supports, this.

During the year ended 31 July 2020, some £2,067,047 was incurred as expenditure in respect of the Backing the Best scheme, including £1,435,000 distributed to 287 athletes, a significant increase from the previous year (shown below). Of these Backing the Best athletes, 50% were male and 50% were female; 21% were athletes with a disability; and 25% were athletes from ethnically diverse communities (BAME) – both percentages significantly over-indexing on the typical population proportions. These athletes were awarded funding of up to £5,000 / athlete.

A range of sport-specific projects are being supported with the national governing bodies to help complement these athlete awards, enabling the sports to reach into geographical areas and population groups that they would otherwise not be able to. The Backing the Best (BTB) programme has an initial funding term to 2020-21, meaning eligible athletes may receive programme support for this period as long as they continue to develop within their chosen sport.

The Backing the Best programme is focussed on providing recognition and financial support to those athletes and families facing some very challenging circumstances which may mean that they cannot fully engage with sport or take up the opportunity to reach their personal best. Backing the Best is a very targeted programme in the Trust’s provision for young people which can make a significant impact in enabling, empowering and encouraging a specific group that might otherwise not be given the chance. The pandemic during 2020 is likely to have posed even more challenges to this target group and the Trust is considering some form of ‘Covid Response Fund’, through Backing the Best to respond to this and offer further support where needed.

The Trust also provides athlete-parent workshops specifically for the cohort being helped through Backing the Best. Similarly to the workshop provision mentioned earlier, they provide the opportunity for the athletes, parents and guardians to have time with various experts and senior international athletes to benefit from their experience and reflections. Backing the Best athletes and parents were included in the free of charge online provision of this sessions offered by the Trust during the pandemic.

11

SPORTS AID TRUST

(A company limited by guarantee)

Investment policy and performance

The investment powers given to the Trustees by the Trust deed are wide-ranging. The Board of Trustees has delegated the management of the investments portfolio to the Audit and Risk Committee. Its policies are:

The Committee reviews the performance of the investment in comparison to the FTSE 100 index at least annually.

OBJECTIVES AND ACTIVITIES

Policies and objectives

The charity’s objects included in its Articles of Association are:

The Board of Trustees has decided to fulfil these objectives by providing financial support and recognition to talented young athletes during the critical early stages of their sporting development. Annual research by the Trust has established that the two main barriers to young athletes progressing in their sport are in having sufficient means to do so and in being able to manage their lifestyle to accommodate all of their commitments. Providing recognition and financial help to those young sports people with talent and potential is considered crucial in nurturing aptitude, aspiration and ambition which can have positive knock-on effects to their family, friends, sporting peer groups, youngsters around them and their wider community.

12

SPORTS AID TRUST

(A company limited by guarantee)

“I really feel like SportsAid was a turning point for me and the point where I went from knowing that I could potentially be a champion – with my Mum as my biggest fan – to actually being recognised outside of my sport and in the wider community as one to watch. Financially as well, coming from a single parent home where my Mum was working in low-paid jobs and struggling. That little bit of financial help was really the reassurance that we both needed.” Nekoda Smythe-Davis, Commonwealth Games Champion

The Trust may also apply funds to other projects which use physical education and recreation to develop the bodies and minds of young people, as and if requested to do so by donors or sponsors.

The Trust completes three main activities in order to fulfil its objectives as agreed by the Board. These activities are:

SportsAid awards

Nominations for financial support are received annually from a wide range of national governing bodies of sport based on talent criteria. SportsAid aims to support as many of these athletes as available funding allows. Key measures in any accounting period are the number of athletes supported and the total benefit provided to those athletes such as cash awards, places at athlete-parent workshops and personal development opportunities.

The SportsAid awards are operated by eleven permanent members of staff; this includes the fundraising staff needed in order to generate the income to allow the Trust to make the awards. A proportion of time of finance, management and other support staff are spent on Sport England TASS and Backing the Best.

Sport England TASS

The Talented Athlete Scholarship Scheme (TASS) was launched in 2004 and is a National Lottery funded Sport England scheme, managed and delivered through the Trust, that represents a unique partnership between talented young student-athletes, National Governing Bodies of Sport (NGBs) and the Higher (University) and Further (College/School) Education sectors. TASS aims to provide the opportunity for young athletes to balance academic life with training and competition as a talented athlete without having to make the difficult decision to choose one or the other – the dual career.

The scheme’s original aims were to:

These aims fit comfortably within the objects of the Trust, and it has focused on playing its part in the scheme by:

Key measures in any accounting period are the number of athletes enrolled on the scheme; the proportion of those athletes progressing in both their sporting and academic development; and the number of athletes successfully completing their chosen education option whilst progressing in their chosen sport.

The TASS programme is operated by a team of ten permanent staff (seconded from Northumbria University) with finance and management support from some of the SportsAid awards staff.

13

SPORTS AID TRUST

(A company limited by guarantee)

Backing the Best

Backing the Best was launched in 2015 and is a National Lottery funded Sport England scheme aimed specifically at helping young, talented athletes in England who face the greatest financial pressures. Backing The Best is not simply designed to make the commitment to sport any easier, but rather it may actually be making it a possibility for some young people who show promise and potential but may be forced to give up sport entirely due to the costs involved. The criteria for success in this programme are the number of athletes supported and as each year progresses, the number of NGB projects supported through the programme funding and the number of eligible athletes identified from those projects who may also be considered for individual support.

The Backing the Best programme currently has one permanent employee with plans to recruit more administrative support as the programme continues to grow; it also has access to the SportsAid staff for finance, management and other support functions.

Fundraising approach

The Trustees have strategic oversight of the Trust’s approach to fundraising, with two Trustees being assigned to support and review the work delivered through the charity’s fundraising strategy. In the period, to strengthen the Trust’s fundraising function, a Head of Fundraising was appointed, reporting to the CEO, along with a Corporate Fundraising Manager. To monitor process and progress, relevant information on fundraising and finance is made available to the Trustees on a regular and routine basis, as well as to the wider staff team.

The Trustees have approved a policy which provides guidance on what should be considered in relation to the Trust’s acceptance of income.

The Trust is registered with the Fundraising Regulator. No matters have been raised in the period by the regulator relating to the Trust’s fundraising activities and the Trust received no complaints regarding its fundraising practices.

Grant making policies and delegated responsibilities

The Trustees have delegated responsibility for the oversight of grant award making to the SportsAid National Awards Committee, a sub-committee of the SportsAid Trustee Board, and for the operation of the grant award making to the National Awards Manager, who reports to the SportsAid Chief Executive.

Applications are invited from a wide range of national governing bodies (NGBs) of sport on an annual basis. Each governing body has one opportunity to submit its applications during the year. Nominees must be British talented sporting competitors, primarily living and training in the UK. Athletes should be within the sport’s defined home nation Talent Pathway. Priority is given to athletes aged between 12 and 18 years old for non-disabled athletes and up to 35 years old for disabled athletes. Flexibility may apply on a sport by sport basis based on specific sport talent pathways. Nominees must be deemed as talented by their NGB and are typically in some form of structured education. Each individual would not ordinarily be in receipt of support through a programme funded by UK Sport or the Talented Athlete Scholarship Scheme (TASS).

The Trustees have delegated responsibility for the oversight of the TASS programme to the TASS Management Group, a sub-committee of the SportsAid Trustee Board, and for the day to day operation of the programme to the TASS National Director, who reports to the SportsAid Chief Executive.

Athletes in receipt of TASS funding tend to be older than those in receipt of SportsAid awards as the athlete would typically be in higher or further education, or following some structured learning and development programme, in order to be eligible for TASS funding. As the funding is provided by Sport England, the athletes must be English.

TASS receives athlete nominations from a number of national governing bodies of sport and the core support for TASS athletes is then delivered at TASS Delivery Sites throughout England. As with SportsAid awards, nominations are received once a year, broadly in line with the academic year.

14

SPORTS AID TRUST

(A company limited by guarantee)

From time to time there may be other partnerships allied to TASS to support athletes of a similar criteria and calibre but not necessarily part of the central cohort supported from the main Sport England funding, e.g. funding from the army or additional places bought into by the national governing bodies, such as the Football Association.

The Trustees have delegated responsibility for the oversight of grant award making to the Backing the Best Awards Panel and for the operation of the grant award making to the Backing the Best Awards Officer, who reports to the SportsAid chief executive. Applications are invited from a wide range national governing bodies of sport on an annual basis. Each governing body has one opportunity to submit its applications during the year.

Nominees must be English talented sporting competitors, primarily living and training in the UK. Athletes should be within the sport’s defined England Talent Pathway. Priority is given to athletes aged between 12 and 18 years old for non-disabled athletes and up to 35 years old for disabled athletes. Flexibility may apply on a sport by sport basis based on specific sport talent pathways. Nominees must be deemed as talented by their NGB and are typically in some form of structured education.

Individuals may be in receipt of other funding either from programmes supported by UK Sport or from other programmes within SportsAid. Dual funding is allowed as these athletes have financial circumstances which indicate that the additional funding this programme provides may prevent them from having to leave the sport entirely.

Volunteers

The charity is most grateful for the time given by its Trustees and independent sub-committee members. The charity also wishes to acknowledge the time given by its alumni and supporters in relation to fundraising and events, especially to those taking on various sporting challenges during the year.

Public benefit

In shaping the Trusts’ objectives for the year and planning its activities, the trustees’ have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission and consider that all three areas of SportsAid’s work – SportsAid awards, TASS and Backing the Best – are for the public benefit.

“SportsAid makes a real difference to Britain’s most talented young sports stars – providing financial backing and recognition during the critical early stages of their development. I had support from the charity when I was just 17 and it helped me to focus on my swimming as I looked to establish myself at senior level. Four years later I became Olympic champion.” Adam Peaty MBE, Olympic Champion

“I know I can speak for my mum too that SportsAid reached out to us unexpectedly and certainly surprisingly. My dad lost his part time job during the first lockdown and I lost my grandma and nana during the first lockdown. I know mum and I have welcomed having the emotional support from SportsAid parent and athlete forums, sharing tips and advice, posting mainly during the first lockdown how I was doing in training at home and in my garden. Listening and reading what others had posted inspired me and my mum. The financial assistance came just at a time when we knew we'd struggle as a family to afford some of the equipment and sports clothes I needed, so it took a little pressure off my parents.” A young athlete being supported by SportsAid

15

SPORTS AID TRUST

(A company limited by guarantee)

FINANCIAL REVIEW

Financial review

The Trust has three main funding sources: through its long-standing alliance with Sport England (for core operational and specific programme funding); through its fundraising events programme, including challenge events; and through its wider fundraising activities and partnerships, particularly with corporate supporters. The challenges posed by the pandemic during the first half of 2020 were significant and did have an impact on the fundraising activities of the Trust.

The majority of the funding received from Sport England is to fund the TASS and Backing the Best programmes. This funding directly supports the charitable activities of the Trust and allows these programmes to continue and evolve. Sport England also provides a contribution of core funding to the Trust to enable it to operate and to allow the Trust to continue to raise the funds it requires for the SportsAid awards. The Trust is able to leverage the investment made in core funding from Sport England to develop its fundraising activities in order to generate the resources to make athlete awards. The charity is most appreciative of the support provided by Sport England in providing funds to help the Trust in achieving its charitable objects and commends the organisation for its leadership and financial commitment across the sector in response to the pandemic.

Fundraising events, including challenge events, would typically provide a varied income stream for the Trust as well as providing opportunities to raise the Trust’s profile. The funds raised at these events would provide unrestricted funding to allow the charity to operate and build capacity and capability as well as providing funding for SportsAid awards. The Trust had been in the process of developing its challenge event portfolio, but these plans were put on hold during the period as a consequence of the pandemic, with almost all in-person events, especially those involving many people, being cancelled or postponed.

Corporate partners continue to be a crucial supporter of the Trust’s work, even during the uncertainty of the pandemic. Such partnerships provide significant restricted funding for SportsAid awards and often additional benefits to be provided to the athletes they support, such as workshop places, a ‘buddy’ (a corporate employee as a type of mentor to an athlete) and other personal development opportunities, including office visits, work experience and discussion panels. SportsAid has a number of long standing corporate partners who continued their support throughout the period, despite the pandemic, which has been greatly valued. Inevitably the lingering Brexit economic uncertainty pre-pandemic and the subsequent impact of the pandemic itself has resulted in a number of partnerships concluding, which in turn has seen a decrease in corporate income. However, with the implementation of a new fundraising strategy and the appointment of two fundraising-specific posts, the Trust continues to look for new opportunities and partnerships. A greater focus on major giving (larger donations from individuals) and on trusts and foundations is an important element of the new strategy.

Income for the year ended 31 July 2020 was £5,642,742 compared to £5,258,335 in 2019. The main causes for the increase were related to planned growth in the programme funding for Backing the Best and increased buyin activity into the TASS scheme from several national governing bodies. There was virtually no income from events as a result of the pandemic and the Trust’s major event strategy is being reviewed. The review and refresh of the Trust’s fundraising has produced a new fundraising strategy to respond to these challenges and develop diversification and a compelling proposition for supporters.

16

(A company limited by guarantee)

SPORTS AID TRUST

Expenditure for the year ended 31 July 2020 totalled £5,489,859 compared to £5,316,924 for the year ended July 2019. This increase is mainly related to the planned growth of the Backing the Best programme expenditure, in line with the awards agreement. There was a reduction in grants made as SportsAid athlete awards as a result of smaller income generation. Overall, the benefit to athletes as a proportion of the Trust’s total expenditure remained substantial (87%).

The Trust had budgeted for a surplus for the year ended 31 July 2020 but, due to the pandemic, the period resulted in an overall deficit that was met from existing unrestricted funds.

Reserves policy

The Trustees consider that the appropriate level of free reserves for the charity to hold is an amount to cover approximately nine months of the charity's annual unrestricted costs. This has been calculated to enable the Trust to continue to operate should income fall unexpectedly. As noted in the risk management section below, financial risk, in particular in relation to the availability of unrestricted income, is one of the key risks to the organisation. The Trust’s unrestricted income is not received evenly throughout the year and the majority of income is received in line with the nomination cycle. A nine month period would allow the charity to continue to operate whilst identifying any operational changes required, allow the Trust time to find new funding sources, and ensure that the effect of a reduction in funding to the Trust, and therefore a reduction in the number of athletes supported, is minimised.

Any free reserves held in excess of this stated policy are considered for use by the Board of Trustees, on an annual basis, either to make additional awards to athletes and / or to allow for investment in the charity and opportunities it may consider appropriate.

At 31 July 2020, the Trust had reserves of £1,569,839 of which £835,421 related to restricted funds and £64,640 related to endowment funds. A further £85,104 related to designated funds which had been earmarked to be spent on other activities to support athletes and/or parents over the next year as a result of particular one off donations.

The restricted reserves held predominantly relate to athlete award funding to be used in future years. Some funds held are restricted to athletes in a particular geographic region or to a particular sport and therefore are carried over from one year to the next until athletes that fulfil the criteria are nominated to the Trust; others are multiple year commitments from funders and therefore the balances will reduce over time in line with the agreement from the funder. Other funds relate to the TASS and Backing the Best programmes and can only be used within these programmes. The endowment fund is expendable but restricted to rowing. Awards are made from this fund as the income allows as the Board of Trustees have determined that the capital should be maintained to provide future funding.

The Trust does not have any fixed assets funded from unrestricted funds therefore, after excluding the designated funds from the unrestricted funds position, the free reserves of the charity total £584,672 at 31 July 2020.

The reserves policy detailed above requires free reserves of £522,851 at 31 July 2020 which gives the Trust excess reserves of £61,821. The required policy figure increased slightly from the figure required at 31 July 2019.

17

SPORTS AID TRUST

(A company limited by guarantee)

The trustees have a policy of using excess free reserves to fund athlete awards and / or invest in the charity. The trustees have approved a cautious deficit budget for the year ended 31 July 2021. It is expected that the very challenging fundraising conditions seen in the year to 31 July 2020 will continue into the coming year as the recovery from the pandemic and the exit from lockdown restrictions progresses. As such it is possible that the excess free reserves could be reduced by 31 July 2021.

Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. These risks are formally documented and regularly reviewed and the Trustees are satisfied that systems are in place to mitigate the Trust’s exposure to significant risk. Separate risk registers are in place for the TASS programme and for the Backing the Best programme to ensure the details of these schemes are not overlooked. A SportsAid risk register exists to cover the Trust as a whole. This risk register also covers the activities undertaken by SAF Promotions Limited.

The Covid-19 pandemic presented some new risks and magnified others, but these were identified and considered in a timely manner and have been monitored throughout the period and mitigated against as far as possible. In particular Covid-19 has had a significant impact on SAF Promotions and its ability to generate income. The trustees consider this to be a short term impact only.

The Audit and Risk Committee includes all three risk registers as a standing item on its agendas for its quarterly meetings with a more detailed analysis and review held at one of these meetings or if thought necessary. The TASS Management Group and the Backing the Best Awards Panel also review their individual registers in detail once a year. The Board papers include all three risk registers on a quarterly basis in advance of the meetings and further any risk highlighted as high or as an issue arising is reported at each meeting of the Board of Trustees.

The three main risks the charity considers most pertinent are:

Financial

Although the Trust’s income streams are reasonably diverse, the security of income generated from fundraising (fundraising events, challenge events and corporate partners) is vital to the Trust’s ability to continue to support talented, young athletes. As such, the Trust continues to look for ways to further diversify its income. During the year ended 31 July 2020, fundraising conditions continued to be challenging made worse by the pandemic. This issue is considered high risk by the Trustees but they are satisfied with the mitigation strategies in place with regards to cost management and the continued diversification of the Trust’s income as part of a more focussed fundraising strategy.

Reputation

With the public’s trust in charities seemingly fluctuating somewhat over recent years, it is considered vital to ensure that SportsAid, in its communications and operational activity, especially fundraising and in its interaction with young sports people, maintains an unblemished reputation. The active Patronage of HRH The Duchess of Cambridge is a key factor in helping to ensure that the Trust operates in such a way as to retain good standing within the charity and sports sectors, as is the endorsement and support of funders and beneficiaries alike.

Relationships with funders, national governing bodies of sports and young athletes are all included on the risk registers, ensuring that no activities are completed, or communications misdirected, that may have a detrimental effect on the charity. The understanding, awareness and ethos of the staff team is fundamental to this.

Changes in fundraising regulation and the introduction of General Data Protection Regulation (GDPR) in recent years have both helped to ensure that the Trust’s policies and processes in relation to data gathering, protection and storage are as efficient and effective as possible. For reference, the Trust issued a new Data Protection Notice to this effect in May 2018.

18

SPORTS AID TRUST

(A company limited by guarantee)

Staffing

SportsAid is staffed by a small, permanent staff team with broad experience and relevant expertise. Changes to this team could result in a significant impact on the Trust, so the retention of staff is considered of high importance to the Board of Trustees. Inevitably at some point there will be changes to the staff team; at such time the response will be planned and implemented quickly to minimise any disruption and ensure a suitable handover of knowledge is managed.

The pandemic presented some specific challenges for staff, particularly in having to adapt to long-term working from home and the related operational risks, such as maintaining operational integrity, data protection and security and more health and wellbeing related issues, including morale and motivation. The maintenance of effective business continuity was delivered very well and the other risks and issues have been, and continue to be, monitored and addressed proactively by the chief executive and the wider staff team.

Going Concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable group to continue as a going concern, including the potential future impact of the pandemic and related government restrictions. The risk register has been updated to reflect the impact of the pandemic on the organisation and in particular the trustees have considered the charitable group’s forecasts and projections which have taken account of the potential pressures on grant and other voluntary income. In addition, the Trustees have considered the impact of SAF Promotions being unable to generate additional income for the foreseeable future.

After further examination, the trustees have concluded that there is a reasonable expectation that the charitable group has adequate resources to continue in operational existence for the foreseeable future and in particular for the 12 months from when these accounts are signed. The charitable group therefore continues to adopt the going concern basis in preparing its financial statements.

PLANS FOR THE FUTURE

In response to the challenges of recent years, particularly during the pandemic, the Trust has been able to maintain a relatively stable footing and continue to help a broad range of young people across the country. Reserves are strong and cost management has been effective.

A priority for the Trust is to continue to develop the efficiency and effectiveness of its operations and to implement its new fundraising strategy. As part of this process, the Trust has developed its work to build on the recent input of an external consulting agency with regard to reviewing the opportunities, assets and priorities for the coming years. The resultant strategic planning has helped to structure the Trust’s focus and priorities and the results and recommendations from the consultation process have been implemented. Continuing to develop the primacy of the SportsAid ‘brand’ in overseeing and managing the various programmes within its remit is key, in order to help underpin the concept of the ‘SportsAid family’ of programmes and initiatives, ie TASS and Backing the Best at present and potential others in the future. This should help to clarify the perception of the talent pathway appearing cluttered and confusing to athletes and parents.

Diversification of funding revenue remains a priority and relatively dormant areas for the Trust, such as major gifts and major donors, will also be explored further, possibly in conjunction with the established SportsAid Fellowship initiative. The support of other trusts and foundations is thought to have some potential too. Recovery from the pandemic will be challenging, but the Trust is focussed on the tasks at hand.

The Trust will continue to enhance its stakeholder engagement activities and will continue to develop its research and insight gathering. SportsAid has a preeminent and central position in the fabric of British sport which should be leveraged for the good of the sector and those operating in it – the so-called ‘critical pathway partner’ designation used by Sport England when referring to the Trust. SportsAid is well-placed to capitalise on opportunities that may emerge from developing such insight into the personal development of young people in sport and how they rate their experiences along the way. Athlete wellbeing, progression, inclusion and delivering

19

SPORTS AID TRUST

(A company limited by guarantee)

a duty of care to young athletes remain very topical themes that the Trust can contribute to. There is great potential in collaborating with relevant partners in the sector to deliver some ground-breaking new research with young people and their parents; these opportunities are being explored.

It is considered vital that the Trust’s stakeholders feel that their interaction with the charity is clear, transparent, worthwhile and importantly, an uplifting and inspiring experience. Recognising and helping the next generation to grow, develop and succeed should be something to be enjoyed and to be proud of and SportsAid will work to share this story more widely in the coming years, especially through various digital platforms and channels. In addition to the successful transition to the online delivery of athlete-parent workshops, plans are in place to develop a new SportsAid podcast, leveraging the unique relationship the Trust has with the next generation and providing them a platform to share their stories.

The athlete-parent workshops provided by the Trust are considered to be vital in supporting and engaging with beneficiaries. These workshops are unique in their format, providing expert advice and information to help make the most of their opportunity in sport and support their decision-making along the way; crucially, the workshops provide the rare opportunity for athletes and parents from different sports to meet and interact – something they may not otherwise do, unless perhaps they were to be selected into multi-sport national teams such as Team GB or Paralympics GB. The workshops are thought to have appeal to funders which will be explored further and the switch to online delivery should only support this work.

SportsAid Week has grown considerably its inception in 2016. Notwithstanding the disappointing fundraising returns in 2019, it continues to be seen as a high energy moment in the Trust’s calendar and an exciting opportunity to develop many more ways to grow the awareness of SportsAid and invite people to support the cause. A particularly successful element is the #MyMiles Challenge, a SportsAid initiative to encourage people to be more active during SportsAid Week and share their experiences on social media. It is a very flexible and accessible initiative, enabling the participants to choose how much or little they would like to do and in what format, ie walking, running, swimming, rowing, cycling or perhaps even through various other forms of exercise activity. The total number of #MyMiles logged by participants has grown almost tenfold in the three years since its launch. Following the restrictions of the various lockdowns during the pandemic, and the exponential rise in ‘virtual’, socially-distanced challenge events, the #MyMiles challenge is thought to have great potential for even more growth.

The role that the charity’s alumni can play with SportsAid Week remains key and will be further developed as well as the engagement with the thousands of younger athletes and their families who have benefited from support of the Trust over the years – these groups are seen as the primary drivers of growth for SportsAid Week as a national initiative. More resources and assets will be developed to support SportsAid Week and further financial investment is also being considered if the appropriate return can be identified.

The relationship with Sport England continues to be central to plans for the Trust to develop and widen its impact in the sector. The confirmed status of award funding support from Sport England for SportsAid’s core award work as well as to support the TASS and Backing the Best programmes provides a firm platform and helps to consolidate the Trust’s position as the leading national charity to help young sports people to develop their potential. This consolidation brings efficiencies to the sector and supports the potential for an even greater impact to be made. Sport England’s decision during the height of the pandemic to commit an extra year of certainty to this support, effectively extending it to the Spring of 2022, is very welcome.

The Backing the Best programme in particular is growing and is supporting more athletes and also more targeted NGB projects. The insight and feedback from Backing the Best athletes and their families is an important element of the programme which can inform other areas of the sporting sector in relation to accessibility, inclusion, affordability and diversity. It is therefore an area to be developed, most likely in close cooperation with Sport England and the NGBs. The intention to develop a Backing the Best ‘Covid Support Fund’ in response to the widespread effects of the pandemic is considered an important area of work to explore during 2020-21.

20

SPORTS AID TRUST

(A company limited by guarantee)

The TASS programme continues to be an exemplar of dual career support (sport and education together). It will continue to provide support to those talented athletes wishing to continue in their education and personal development but perhaps just as importantly, the programme will extend its network of supportive institutions and organisations through its accreditation scheme, which is introducing some minimum standards of best practice and facility provision across the sector – for the greater benefit of many more young people and communities. The findings from the TASS stakeholder consultation will inform future thinking on the evolution of the scheme for the coming years. This process has begun through the TASS Management Group with Sport England.

The skills, experience and diversity of the Board of Trustees has been enhanced during the period, with the appointment of three new Trustees from a thorough, open recruitment process in conjunction with a specialist diversity recruitment agency. It is felt that these new appointments will add considerably to the various initiatives the Trust is considering and to the Board’s wider strategic planning.

The postponement of the 2020 Summer Olympiad in Tokyo was an unwelcome but unavoidable setback for the sporting sector. Such major sporting events provide strong opportunities for the Trust to communicate its important role and profile in British sport as its many alumni are likely to be involved at the Games; this activity will shift to 2021 in the anticipation of the Tokyo Games eventually taking place. Such communication content and awareness should lift the mood and morale of the sector and may help to build interest and engagement in SportsAid Week 2021. There is more optimism and confidence looking further ahead to 2022 and the Commonwealth Games in Birmingham. With SportsAid having been appointed as the delivery partner for the ‘Team England Futures’ programme by Commonwealth Games England, there is an exciting and innovative highprofile project to plan and deliver that should have many benefits to the Trust and link well across several of its key work areas.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Sports Aid Trust was incorporated on 17 August 2005 as a company limited by guarantee and is governed by its Articles of Association. It is a registered charity (Charity No. 1111612). It was formed to assume the role of the unincorporated charity Sports Aid Trust (Charity No. 286917), founded by trust deed in 1983 and referred to henceforth as Sports Aid Trust [1983].

The previous Memorandum and Articles of Association were prepared under the Companies Act 1985. In 2017 the Trustees asked Eversheds-Sutherland LLP to review and update the format and references of these Articles to bring them in line with the Companies Act 2006 (and the Charities Act 2006). The Companies Act 2006 does not require a Memorandum of Association in addition to the Articles, so the two documents were merged to create a new Articles of Association for the Trust. These new Articles of Association were adopted by Special Resolution by the Trustees on 18 September 2017.

SportsAid was formed in 1976 as the Sports Aid Foundation Limited. For the first 21 years of its life, the charity funded elite athletes when no other funding was available to them. With the introduction of National Lottery funding for elite athletes in 1997, the charity changed its focus to young, talented athletes to ensure that funding was not duplicated and the charity’s funds were used in the most advantageous way in order to provide progress towards its objectives.

As part of SportsAid’s ongoing support from Sport England, the Trust was assessed and found to be compliant with the Code for Sports Governance as a Tier 3 organisation, the highest level of the Code.

Method of appointment or election of Trustees

The Trustees are elected by the charity's trustees (who are the sole members of the company) in accordance with the Articles of Association. The Articles of Association require trustee appointments to be completed via an open recruitment process that has been publicly advertised.

21

SPORTS AID TRUST

(A company limited by guarantee)

The Trustees who served during the year and to the date of this report are as follows:

Mr Mike Westcott (Chair of the Board of Trustees) Mr Ian Braid (Chair of the National Awards Committee and the Backing the Best Awards Panel) Mr Ronald Denholm (Chair of the Audit and Risk Committee)

Mr David Faulkner (Member of the TASS Management Group and the National Awards Committee) Mr Richard Glasson (Chair of the TASS Management Group) Baroness Tanni Grey-Thompson DBE (resigned 24 January 2020) Ms Michelle Moore Ms Heather Clark-Charrington (Member of the National Awards Committee) Ms Penny Brough (Member of the Audit & Risk Committee) Ms Ama Agbeze (Member of the Backing the Best Awards Panel)

The charity’s induction programme for new Trustees is as advised by the Charity Commission and the Sport England Code for Sports Governance. There is no formal ongoing training programme for the Board of Trustees but a budget line is in place to allow trustees to access training that they feel is relevant; a regular review of the Board’s range of skills and experience is completed as well as assessing Trustees’ circumstances and interest areas to make the most effective and efficient use of their time and input. Several of the Trustees may have a sporting background so advice on charity issues is available to them from the more experienced Trustees and through the Charity Commission.

Organisational structure and decision making

For the majority of the year, the Sports Aid Trust was served by up to twelve permanent staff led by the Chief Executive plus a further ten staff seconded to the charity from Northumbria University; these seconded members of staff operate TASS.

The permanent members of staff operate SportsAid awards and Backing the Best along with providing overall management of the charity. These staff are grouped into four main areas of operation – management and leadership, allocation of funds (including Backing the Best) and beneficiary liaison, communications and fundraising. Whilst TASS and Backing the Best are funded by National Lottery funding awards through Sport England, SportsAid awards must be funded from charitable fundraising.

The Board of Trustees provide the strategic direction for the Trust and monitor performance against the strategic targets set; the Board of Trustees meets at least four times a year. Delegated authority is in place to the Chief Executive for day to day operations of the charity.

The sub-committee structure of the Trust is shown below – the Audit and Risk Committee (A&R); the National Awards Committee (NAC); the TASS Management Group (TMG); and the Backing the Best Awards Panel (BTB). These are the principle sub-committees along with an ad hoc Nominations Committee (NC). All sub-committees include at least two members of the Board of Trustees and also include independent members.

Additionally and as required, other temporary advisory groups may be convened such as those for major events and SportsAid Week; these advisory groups are likely to be temporary and will be disbanded following the completion of their purpose.

The Audit and Risk Committee meets quarterly whilst the National Awards Committee, the TASS Management Group and the Backing the Best Awards Panel each meet three times a year.

The charity has a wholly owned trading subsidiary, SAF Promotions Limited (company number 02508698), through which trading activities and large scale fundraising events are completed. The board of directors of SAF Promotions Limited reports to the Board of Trustees.

22

SPORTS AID TRUST

(A company limited by guarantee)

----- Start of picture text -----
Overall SAF Society Board of Trustees
Committee SAF Promotions Ltd
Governance
Sub Audit & Risk National Awards TASS Management Backing the Best
Committees Committee Committee Group Awards Panel
Nominations
Example
Committee (ad hoc)
Advisory or
Working Groups
T= temporary SportsAid Week Major Event
Advisory Group (T) Committee (T)
----- End of picture text -----

Related party relationships

Sports Aid Foundation Society is an unincorporated society which has the same objectives as Sports Aid Trust. Its committee is the same as the Sports Aid Trust Board of Trustees. The Society has a 31[st] October year end. The Society was dormant during the financial year ended 31 October 2020.

One regional SportsAid charity operates in England under licence from Sports Aid Trust: Sports Aid Eastern (registered company number 03574841 and registered charity number 1070957). This entity has its own Board of Trustees and is independent of Sports Aid Trust but their charitable objectives are similar to those of Sports Aid Trust and are restricted to their region. Sports Aid Trust has a very close working relationship with Sports Aid Eastern to further the Trust’s charitable objects and provides grant funding to help with its overhead costs.

Sports Aid Trust has also established fully effective working relationships with similar trusts which operate in Scotland (Sports Aid Scotland), Wales (Sports Aid Wales) and Northern Ireland (The Mary Peters Trust). The organisations have been working together for a number of years for the benefit of talented athletes across the United Kingdom.

Key Management Personnel Remuneration

Remuneration of key management personnel is set by the Audit and Risk Committee and ratified by the Board of Trustees as part of the annual budget setting process. The Audit and Risk Committee consider the general economic climate, RPI, public sector pay rises and the charity’s own financial position before agreeing any pay rises for the whole staff team.

23

SPORTS AID TRUST

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Mr M Westcott, Chair
Mr I Braid
Mr R Denholm
Mr D Faulkner
Ms M Moore
Mr R Glasson
Ms Ama Agbeze MBE (appointed 24 January 2020)
Ms H Clark-Charrington (appointed 24 January 2020)
Ms P Brough (appointed 24 January 2020)
Baroness T Grey-Thompson DBE (resigned 24 January 2020)
Company registered
number 05538901
Charity registered
number 1111612
Registered office 21 Bloomsbury Street
London
WC1B 3HF
Company secretary Mr A Joelson
Chief executive officer Mr T Lawler
Independent auditor Moore Kingston Smith LLP
Chartered Accountants
Devonshire House
60 Goswell Road
London
EC1M 7AD
Bankers Lloyds Banking Group plc
39 Threadneedle Street
London EC2R 8AU
Solicitors Eversheds-Sutherland LLP
One Wood Street
London EC2V 7WS
Investment manager BlackRock Investment Management (UK) Limited
12 Throgmorton Avenue
London EC2N 2DL

24

SPORTS AID TRUST

(A company limited by guarantee)

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of Sports Aid Trust for the purposes 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. 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 state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITOR

So far as each of the Trustees is aware at the time the report is approved:

AUDITOR

A resolution proposing that Moore Kingston Smith LLP be re-appointed as auditors of the charity and the group will be put to the Annual General Meeting.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 15 of the Companies Act 2006.

This report was approved by the Trustees on 19 February 2021 and signed on their behalf by:

Mike Westcott Chair and Trustee

25

SPORTS AID TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SPORTS AID TRUST

Opinion

We have audited the financial statements of Sports Aid Trust (the ’company’) for the year ended 31 July 2020 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Ireland’.

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 financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 26

(A company limited by guarantee)

SPORTS AID TRUST

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SPORTS AID TRUST

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Page 27

(A company limited by guarantee)

SPORTS AID TRUST

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SPORTS AID TRUST

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page 28

SPORTS AID TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SPORTS AID TRUST

Use of this report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and, in respect of the consolidated financial statements, to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which 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 any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body, for our audit work, for this report, or for the opinion we have formed.

Shivani Kothari (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Devonshire House 60 Goswell Road London EC1M 7AD

Date: 3 March 2021

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

Page 29

SPORTS AID TRUST

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020

Note
INCOME AND ENDOWMENTS
Income and Endowments:
Donations and Legacies
2
Other Trading Activities
3
Investment income
4
Charitable activities
5
TOTAL INCOME
EXPENDITURE
Costs of raising funds
6
Charitable activities
6
TOTAL EXPENDITURE
Net operating
income/(expenditure)
Net (losses)/gains on
investment assets
17
Net income/(expenditure)
Transfers between funds
20
NET MOVEMENT IN FUNDS
FOR THE YEAR
Total funds at 1 August 2019
TOTAL FUNDS AT 31 JULY
2020		 Endowment
funds
2020
£
-
-
-
-
Restricted
funds


2020
£
-
-
-
5,091,114
Restricted
funds


2020
£
-
-
-
5,091,114		 Unrestricted
funds
2020
£
134,735
16,200
8,107
392,586		 Total
funds
2020
£
134,735
16,200
8,107
5,483,700		 Total
funds


2019
£

215,827
38,286
8,595
4,995,627
5,258,335
-
5,091,114		 551,628 5,642,742
-
-		 11,620
4,824,373		 208,974
444,892
653,866
(102,238)
(30,859)
(133,097)
38,965		 220,594
5,269,265
5,489,859
152,885
(44,084)
108,801
-		 218,355
5,098,569
5,316,924
(58,589)
10,173
(48,416)
-
(48,416)
1,509,455
1,461,039
- 4,835,993
-
(13,225)
(13,225)
-
(13,225)
77,865
216,156

619,265		 (94,132)
763,908		 108,801

1,461,039
1,569,839

64,640


835,421
669,776

The notes on pages 34 – 53 form part of these financial statements.

Page 30

SPORTS AID TRUST

(A company limited by guarantee) REGISTERED NUMBER: 05538901

CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2020

Note
FIXED ASSETS
Intangible fixed assets
16
Investments
17
CURRENT ASSETS
Stock
Debtors
18
Cash at bank and in hand
CREDITORS:amounts falling due
within one year
19
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Endowment funds
20
Restricted funds
20
Designated funds
20
Unrestricted funds
20
TOTAL FUNDS		 £
574
435,911
2,419,483		 2020
£
12,840
340,613		 £

5,676
491,131
1,722,399		 2019
£
-
384,696
353,453

1,216,386		 384,696

1,076,343
2,855,968
(1,639,582)		 2,219,206
(1,142,863)
1,569,839 1,461,039
64,640
835,421
85,104
584,672		 77,865
619,265
115,472
648,437
1,569,839 1,461,039

The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act

The financial statements were approved by the trustees on 19[th] February 2021 and signed on their behalf, by:

M Westcott Chair and Trustee

The notes on pages 34 - 53 form part of these financial statements.

Page 31

SPORTS AID TRUST

(A company limited by guarantee) REGISTERED NUMBER: 05538901

CHARITY BALANCE SHEET AS AT 31 JULY 2020

Note
FIXED ASSETS
Intangible fixed assets
16
Investments
17
CURRENT ASSETS
Stock
Debtors
18
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
19
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Endowment funds
20
Restricted funds
20
Designated funds
20
Unrestricted funds
20
TOTAL FUNDS		 £
574
468,030
2,380,618		 2020
£
12,840
340,615		 £
5,676
517,092
1,686,613		 2019
£
-
384,698
353,455
1,219,607		 384,698
1,078,778
1,463,476
2,849,222
(1,629,615)		 2,209,381
(1,130,603)
1,573,062
64,640
835,421
85,104
587,897		 77,865
619,265
115,472
650,874
**1,573,062 ** 1,463,476

The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006.

The charity has taken advantage of the exemption contained within 408 of the Companies Act 2006 not to present its own income and expenditure account. The net inflow of funds of the charity for the year ended 31 July 2020 was £109,586 (2019: outflow of £48,416).

The financial statements were approved by the trustees on 19[th] February 2021 and signed on their behalf, by:

M Westcott Chair and Trustee

The notes on pages 34 - 53 form part of these financial statements.

Page 32

SPORTS AID TRUST

(A company limited by guarantee) REGISTERED NUMBER: 05538901

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2020

2020 2019
£ £
Cash flow/ (outflow) from operating activities
Net cash provided by/ (used in) operating activities 706,658 33,342
═══════ ═══════
Cash flows from investing activities
Purchase of intangible fixed assets (17,681) -
Investment income and interest received 8,107 8,595
──────── ────────
(9,574) 8,595
═══════ ═══════
Net increase/ (decrease) in cash and
cash equivalents
697,084 41,937
Cash and cash equivalents at beginning of year 1,722,399 1,680,462
──────── ────────
Cash and cash equivalents at end of year 2,419,483 1,722,399
═══════ ═══════
Reconciliation of net income/ (expenditure) to net cash flow from operating activities
2020 2019
£ £
Net income/ (expenditure) including endowments 108,801 (48,416)
Adjustments for:
Net gains on investments 44,084 (10,173)
Depreciation 4,841 -
Investment income (8,107) (8,595)
Decrease/ (increase) in stock 5,100 (642)
Decrease/ (increase in debtors 55,220 (123,527)
Increase in creditors 496,719 224,695
──────── ────────
Net cash provided by/ (used in) operating activities 706,658 33,342
═══════ ═══════

Page 33

(A company limited by guarantee)

SPORTS AID TRUST

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

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of investments being measured at fair value through income and expenditure within the Statement of Financial Activities.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charitable Company and its subsidiary are a public benefit group for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

1.2 GOING CONCERN

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable group to continue as a going concern, including the potential future impact of Covid-19 and related government restrictions. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charitable group’s forecasts and projections covering the period to 31 January 2022 and have taken account of the potential pressures on grant and other voluntary income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charitable group has adequate resources to continue in operational existence for the foreseeable future. The charitable group therefore continues to adopt the going concern basis in preparing its financial statements.

1.3 COMPANY STATUS

The charity is a company limited by guarantee. The members of the company are the trustees named on page 20. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

1.4 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 charity and which have not been designated for other purposes.

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

Page 34

SPORTS AID TRUST

(A company limited by guarantee)

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

Investment income, gains and losses are allocated to the appropriate fund.

1.5 ENDOWMENT FUNDS

The endowment funds represent those assets which usually must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the requests of the donors, and is included as restricted income. Any capital gains / losses arising from the investments form part of the fund. The trustees have discretion to expend capital in a similar manner to the income.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.6 EXPENDITURE

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Costs of Raising Funds are those incurred in seeking voluntary contributions and in putting on fundraising events and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include management.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

All resources expended are inclusive of irrecoverable VAT.

1.7 GRANTS

Grants comprise SportsAid awards provided directly to athletes and TASS and Backing The Best funding allocated to individual athletes.

1.8 VOLUNTARY HELP

The value of time donated by trustees and committee members is not evaluated for inclusion in the accounts as this would not be practicable.

1.9 BASIS OF CONSOLIDATION

The financial statements consolidate the accounts of Sports Aid Trust and its subsidiary undertaking ('subsidiary').

Page 35

(A company limited by guarantee)

SPORTS AID TRUST

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

1.10 AMORTISATION POLICY

All intangible fixed assets related to computer software. Computer software is amortised straight line over a period of 3 years.

1.11 INVESTMENTS

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

The investment in the subsidiary is valued at cost less provision for impairment.

1.12 PENSIONS

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.13 TAXATION

The Trust, being a registered charity, is exempt from taxation on its income and capital gains to the extent that they are applied for charitable purposes.

1.14 TASS MEDICAL INSURANCE SCHEME

The charity operates a medical insurance scheme for TASS athletes. Contributions are treated as an expense as they are incurred.

1.15 STOCK

Stock of goods for resale is stated at the lower of cost and net realisable value.

1.16 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.

1.17 FINANCIAL INSTRUMENTS

The charity and its subsidiaries have elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity 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.

With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 17 and 18 for the debtor and creditor notes.

Page 36

(A company limited by guarantee)

SPORTS AID TRUST

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

1.18 EMPLOYEES BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense.

1.19 CRITICAL ESTIMATES AND JUDGEMENTS

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Page 37

SPORTS AID TRUST

(A company limited by guarantee)

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

2. DONATIONS & LEGACIES

Gifts
Challenge events		 Restricted
funds
2020
£
-
-		 Unrestricted
funds
2020
£
75,014
59,721
134,735		 Total
funds
Total
funds
2020
£
2019
£
75,014
84,144
59,721
131,683
- 134,735
215,827

In 2019 £0 of Gifts income was restricted.

3. OTHER TRADING ACTIVITIES

Special events
Other fundraising events		 Restricted
funds
2020
£
-
-		 Unrestricted
funds
2020
£
-
16,200		 Total
funds
2020
£
-
16,200
16,200		 Total
funds
2019
£
26,766
11,520
- 16,200 38,286

In 2019 £0 of Other fundraising events income was restricted.

4. INVESTMENT INCOME

Interest received Restricted
funds
2020
£
-		 Unrestricted
funds
2020
£
8,107		 Total
funds
Total
funds
2020
£
2019
£
8,107
8,595

In 2019 £0 of Interest received income was restricted.

5. INCOME FROM CHARITABLE ACTIVITIES

Restricted Unrestricted Total
funds funds funds
2020 2020 2020
£ £ £
TASS grant 2,000,000
-		 2,000,000
Backing the Best grant 2,076,013
-		 2,076,013
Sport England grants 15,000 330,000 345,000
Other grants 339,078 62,586 401,664
TASS projects 661,023
-
 661,023

5,091,114 392,586 5,483,700

Page 38

(A company limited by guarantee)

SPORTS AID TRUST

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

5. INCOME FROM CHARITABLE ACTIVITIES (continued)

TASS grant
Backing the Best grant

Sport England grant
Other grants
TASS projects		 Restricted
funds
2019
£
2,000,000
1,345,653
35,088
598,214
556,904
4,535,859		 Unrestricted
funds
2019
£

-

-
330,000
129,768

-

459,768		 Total
funds
2019
£
2,000,000
1,345,653
365,088
727,982
556,904
4,995,627

The TASS grant, Backing the Best grant and the Sport England grant are all received from Sport England. The TASS grant and Backing the Best grants are National Lottery funding.

6. ANALYSIS OF EXPENDITURE BY TYPE

Costs of raising funds
(see note 7)
Cost of charitable
activities
Costs of raising funds
(see note 7)
Cost of charitable
activities		 Grants
2020
£
(See note 9)
-
4,572,367		 Other Direct
costs
2020
£
(Notes 7 & 8)
220,594
245,755		 Support
costs
2020
£
(See note 10)
-
451,143
451,143
Support
costs
2019
£
(See note 10)
-
448,221		 Support
costs
2020
£
(See note 10)
-
451,143
451,143
Support
costs
2019
£
(See note 10)
-
448,221		 Total
2020
£
220,594
5,269,265
5,489,859
Total
2019
£
218,355
5,098,569

5,316,924
4,572,367 466,349 451,143

Grants
2019
£
(See note 9)
-
4,353,141
Other Direct
costs
2019
£
(Notes 7 & 8)
218,355
297,207
4,353,141 515,562 448,221

Page 39

(A company limited by guarantee)

SPORTS AID TRUST

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

7. DIRECT COSTS - COST OF RAISING FUNDS

Staff costs
Other staff costs
Accommodation costs
Printing, postage and
stationery
Direct special event costs
Direct challenge event costs
Direct other fundraising
costs
Direct donations costs
Irrecoverable VAT
Research and
communications
Insurance, legal &
professional fees
General expenses		 Restricted
funds
2020
£
-
-
-
-
-
-
-
-
-
-
11,620
-		 Unrestricted
funds
2020
£

119,231
4,937

19,691

1,343

18,195
11,849

18,894

225

6,593
2,439
3,781
1,796		 Total
funds
2020
£
119,231
4,937

19,691

1,343
18,195
11,849

18,894
225
6,593
2,439
15,401
1,796
220,594		 Total
funds
2019
£
116,432
5,594
16,550
1,871
12,012
25,741
22,754
-
7,744
4,080
3,497
2,080
11,620 208,974 218,355

In 2019 £0 of Cost of raising funds related to restricted funds.

Page 40

(A company limited by guarantee)

SPORTS AID TRUST

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

8. DIRECT COSTS- CHARITABLE ACTIVITIES

DIRECT COSTS- CHARITABLE ACTIVITIES
Athlete events
TASS projects
Backing the Best
Grants to regional charities
Staff costs
Other staff costs
Accommodation
Printing, postage and stationery
Irrecoverable VAT
Research and communications
Insurance, legal and professional fees
General expenses		 Total
2020
Total
2019
£
£
2,715 17,431
- 1,706
41,697 66,446
-
14,482
152,682 148,368
6,264 6,121
25,092 21,089
1,019 1,609
8,401 9,868
1,691 3,159
4,818 4,456
1,376 2,472
245,755
297,207
245,755

Grant expenditure to meet fundraising and administration costs of the regional charities represent amounts paid by the Trust to help with the running costs of the separately governed regional sports charities. In recent years, the activities undertaken by a number of the regional charities have been absorbed by Sports Aid Trust, with funds raised for distribution to athletes within a specific region accounted for as restricted funds in these accounts. The aggregate grants made by the Trust to regional charities in the year ended 31 July 2020 was £4,889 (2019: £14,482). Details of grant awards made by the regional charities can be found in the individual accounts for these regions, filed with the Charity Commission.

9. GRANTS TO INDIVIDUALS

Grants to individuals Number
1,378		 Total
2020
£
4,572,367		 Number
1,871		 Total
2019
£
4,353,141

Page 41

(A company limited by guarantee)

SPORTS AID TRUST

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

10. SUPPORT COSTS

SUPPORT COSTS
TASS
Backing the Best
Staff costs
Other staff costs
Accommodation
Printing, postage and stationery
Irrecoverable VAT
Research and communications
Insurance, legal and professional fees
General expenses
Depreciation
Grants to regional charities
Governance (see note 11)		 Total
2020
Total
2019
£
£
222,158
205,670
7,818
12,459
129,175
125,525
5,300
5,179
19,672
17,842
862
1,361
7,108
8,349
4,778
11,559
4,076
3,770
2,428
4,496
1,557
-
14,459
-
31,752
52,011
451,143
448,221
451,143

11. GOVERNANCE COSTS

GOVERNANCE COSTS
Audit and accountancy
Legal and professional fees
Meeting costs
Trustee training
Sport Collective project		 Total
2020
£
15,480
122
-
1,150
15,000		 Total
2019
£
16,379
116
428
-
35,088
52,011
31,752

12. ANALYSIS OF SPORT ENGLAND FUNDED EXPENDITURE

2020
TASS grant
Backing the
Best grant
Sport
England
core funding
Total		 Direct costs
– costs of
raising funds
£
-
-
102,029
102,029		 Direct costs
– charitable
activities
Grants to
individuals
£
£
-
2,205,589
41,697
2,017,532
102,029
-
143,726
4,223,121		 Support
costs and
transfers
£
222,158
7,818
99,576
329,552		 Governance
costs
£
-
-
31,752
31,752		 Total
£
2,427,747
2,067,047
335,386

4,830,180

Page 42

(A company limited by guarantee)

SPORTS AID TRUST

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

12. ANALYSIS OF SPORT ENGLAND FUNDED EXPENDITURE (CONTINUED)

2019
Direct
costs –
costs of
raising
funds
Direct costs
– charitable
activities
£
£
TASS grant
-
-
Backing the
Best grant
-
66,546
Sport
England
core funding
109,178
109,178
Total
109,178
175,724		 Grants to
individuals
£
2,288,520
941,795
-
3,230,315		 Support
costs and
transfers
£
205,670
12,459
89,040
307,169		 Governance
costs
£
-
-
52,011
52,011		 Total
£
2,494,190
1,020,800
359,407

3,874,397

13. NET INCOME / EXPENDITURE

This is stated after charging:

Auditor’s remuneration- audit
Auditor’s remuneration- other
Pension costs		 2020
£
15,480
-
20,793		 2019
£
16,379
-
21,024

During the year, no trustees received any remuneration or benefits in kind (2019 - £0). For details of expenses reimbursed to trustees, see note 14.

Page 43

(A company limited by guarantee)

SPORTS AID TRUST

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

14. STAFF COSTS

Staff costs were as follows:

2020
£
Wages and salaries
419,500
Social security costs
42,994
Pension costs
20,793
483,287
The average monthly number of employees during the year was as follows:
2020
No.
Employees
11
The number of higher paid employees was:
2020
No.
In the band £90,001 - £100,000
1		 2020
£
419,500
42,994
20,793		 2019
£
470,771
43,845
21,024
483,287 535,640

2019
No.
12
2019
No.
1

Pension contributions in relation to the higher paid employees totalled £13,002 for the year (2019: £13,002).

The trustees neither received nor waived any emoluments during the year. Expenses of £837 (2019: £837) were reimbursed to one (2019: one) trustee during the year.

Key management personnel include the Trustees and senior management team comprising the Chief Executive, Finance Manager and Head of Fundraising. The total employee benefits of the charity's key management personnel were £193,295 (2019: £173,689). No trustee received any remuneration as part of this figure.

Page 44

(A company limited by guarantee)

SPORTS AID TRUST

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

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
15.
TANGIBLE FIXED ASSETS
GROUP AND CHARITY
COST
At 1 August 2019
At 31 July 2020
DEPRECIATION
At 1 August 2019
At 31 July 2020
NET BOOK VALUE
At 31 July 2020
At 31 July 2019
16.
INTANGIBLE FIXED ASSETS
GROUP AND CHARITY
COST
At 1 August 2019
Additions
At 31 July 2020
DEPRECIATION
At 1 August 2019
Charge for the year
At 31 July 2020
NET BOOK VALUE
At 31 July 2020
At 31 July 2019		 Office
equipment
£
68,436
68,436

68,436
68,436
-
-
Computer
software
£
-
17,681
17,681

-
4,841
4,841
12,840
-

Page 45

(A company limited by guarantee)

SPORTS AID TRUST

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

17. FIXED ASSET INVESTMENTS

GROUP
MARKET VALUE
At 1 August 2019
Revaluations
At 31 July 2020
GROUP INVESTMENTS AT MARKET VALUE COMPRISE:
Listed investments
All the fixed asset investments are held in the UK.
CHARITY INVESTMENTS AT MARKET VALUE COMPRISE:
Listed investments
Investment in subsidiary company
Total		 2020
£
340,613
2020
£
340,613
2
340,615		 Listed
securities
£
384,696
(44,084)
340,613
2019
£
384,696

2019
£
384,696
2
384,698

All the fixed asset investments are held in the UK.

Historical cost represents the value (market value) of the investments acquired on transfer from Sports Aid Trust [1983] at 1 April 2006, plus subsequent additions, less cost of investments sold.

The investments are managed by Black Rock Merrill Lynch Investment Managers, and are Charishare Accumulation Units. The Charishare Fund is invested in shares in companies in the FT All Share Index. The investments are held within the powers of the trustees, and there are no restrictions on their realisation.

Investment in subsidiary undertaking

The investment in the subsidiary represents 100% of the ordinary share capital of SAF Promotions Limited, a company registered in the UK (Company number 02508698). The principal activity of SAF Promotions Limited is fundraising and promotional activity for Sports Aid Trust. The loss of the company for the year ended 31 July 2020 was £785 (2019: profit of £1,208) and the aggregate share capital and reserves at that date were (£3,223) (2019: (£2,437)).

Page 46

(A company limited by guarantee)

SPORTS AID TRUST

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

18. DEBTORS

DEBTORS
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 GROUP
2019
£
52,393
-
9,214
429,524
491,131		 2020
£
33,595
33,619
5,000
395,816
468,030		 CHARITY
2019
£
52,393
25,961
9,214
429,524
2020
£
35,095
-
5,000
395,816
435,911 517,092

19. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP CHARITY
2020 2019 2020 2019
£ £ £ £
Trade creditors 234,025 331,057 234,025 331,049
Other taxation and social security 16,891 37,403 18,254 37,421
Loan from SAF Society 4,291 4,291 4,291 4,291
Other creditors 1,206,460 716,136 1,206,460 716,136
Accruals and deferred income 177,915 53,976 166,585 41,706
1,639,582
 1,142,863
 1,629,615 1,130,603
The
loan		 from SAF Society is
interest		 free
and		 repayable on demand.

Other creditors include outstanding TASS and 2020 grants and operational expenditure of £268,636 (2019: £196,619).

20. SUMMARY OF FUNDS

Brought Carried
forward Transfers Gains/ forward
01/08/19 Income Expenditure in/out (losses) 31/07/20
£ £ £ £ £ £
Unrestricted funds 648,437 541,696 (613,567) 38,965 (30,859) 584,672
Designated fund-
athlete awards - - - - - -
Designated fund-
athlete workshops 115,472 9,932 (40,299) - - 85,104
Endowment fund 77,865 - - - (13,225) 64,640
Restricted funds
(see note 21) 619,265 5,091,114 (4,835,993) (38,965) - 835,421

Page 47

SPORTS AID TRUST

(A company limited by guarantee)

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

1,461,039 5,642,744 (5,489,859) - (44,084) 1,569,839

Endowment Fund

The endowment fund held is an expendable endowment fund restricted to the support of rowers. The trustees have determined that awards should only be made from this fund as the income allows, in order to maintain the capital to provide future awards.

Designated Funds- athlete awards

The designated funds relate to donations from two sources that were received as unrestricted donations but the trustees have determined should be used for athlete awards.

Designated Funds- athlete workshops

The designated funds relate to donations from a corporate donor that were received as unrestricted donations but the trustees have determined should be used for athlete workshops.

20. SUMMARY OF FUNDS (continued)

Brought
forward
01/08/18
£
Unrestricted funds
652,598
Designated fund-
athlete awards
55,887
Designated fund-
athlete workshops
53,285
Endowment fund
79,813
Restricted funds
(see note 21)
667,872
1,509,455		 Brought
forward
01/08/18
£
Unrestricted funds
652,598
Designated fund-
athlete awards
55,887
Designated fund-
athlete workshops
53,285
Endowment fund
79,813
Restricted funds
(see note 21)
667,872
1,509,455		 Income
£
722,476
-
-

-

4,535,859		 Expenditure
£
(667,110)
(57,054)
(9,215)
(5,000)
(4,578,545)
Transfers
in/out
£
(66,648)
1,167
71,402
-

(5,921)		 Gains/
(losses)
£
7,121
-
-

3,052
-		 Carried
forward
31/07/19
£
648,437
-
115,472

77,865

619,265
1,509,455 5,258,335 (5,316,924) - 10,173 1,461,039

Page 48

SPORTS AID TRUST

(A company limited by guarantee)

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

21. RESTRICTED FUNDS 2020

4
Elton John Sports Fund
4
OCS Group
4
Thompson Family
Charitable Trust
5
Dave Aitchison
5
Sports Aid London -
Greater London Authority
6
Deloitte Adaptive Rowing
7
Get Living London
8
Sports Aid London -
Greenwich Leisure
9
GVC
9
Royal Bank of Canada
10
TASS Award Grant
11
TASS project fund
12
Sports Aid South East -
Kent County Council
13
Other restricted funds
14
Sports Aid London - The
Girdlers Livery Company
15
The FA
16
Backing the Best
1
A Nelson
17
Benita Dakin
1
Boost Charitable Trust
18
Midtown Business Club
19
Mo Farah Foundation -
athlete awards
20
Peter Harrison
Foundation
21
Scarborough
4
Sports Aid East Midlands
- Morgan Cross
Consulting
Total restricted funds		 Brought
forward
Income
Expenditure
Transfers
in/out
Gains/
(losses)
Carried
forward
£
£
£
£
£
£
744,52
1,000
(17,291)
-
-
58,161
2,750
10,000
(10,750)
-
-
2,000
53,250
101,000
(74,000)
-
-
80,250
854
6,305
-
-
-
7,159
7,283
-
(283)
-
-
7,000
24,570
-
-
-
-
24,570
-
10,000
-
-
-
10,000
4,691
-
309
-
-
5,000
8,696
51,000
(52,400)
-
-
7,296
1,000
56,510
(54,157)
-
-
3,353
156,387
2,000,000
(1,994,617)
(30,000)
-
131,770
227,864
661,023
(486,370)
-
-
402,517
500
12,200
(4,500)
-
-
8,200
43,768
27,066
(4,889)
-
-
65,944
1,500
12,000
(12,000)
-
-
1,500
700
5,000
(4,000)
-
-
1,700
-
2,076,012
(2,067,047)
(8,965)
-
-
-
20,000
(17,000)
-
-
3,000
-
4,000
(3,000)
-
-
1,000
-
2,000
(2,000)
-
-
-
-
3,000
(2,000)
-
-
1,000
11,000
-
-
-
-
11,000
-
25,000
(22,000)
-
-
3,000
-
5,000
(5,000)
-
-
-
-
3,000
(3,000)
-
-
-
619,265
5,091,114
(4,835,993)
(38,965)
-
835,421

The transfer of funds from the Backing the Best fund relates to a contribution to SportsAid’s unrestricted overhead cost for costs jointly attributable to SportsAid awards and Backing the Best awards.

The transfer of funds from the TASS Award grant fund relates to expenditure from this fund on SportsAid fundraising events.

Page 49

SPORTS AID TRUST

(A company limited by guarantee)

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

Fund Information:

Page 50

SPORTS AID TRUST

(A company limited by guarantee)

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

21. RESTRICTED FUNDS 2019

1
A Helping Hand
16
Backing the Best
5
Dave Aitchison
6
Deloitte Adaptive Rowing
4
Elton John Sports Fund
7
Get Living London
9
GVC
17
Mo Farah Foundation
3
My Lotto 24 Limited
8
Nottingham Building
Society
4
OCS Group
9
Prudential Plc
9
Royal Bank of Canada
9
Reynolds Porter
Chamberlain
8
Sports Aid London -
Greenwich Leisure
14
Sports Aid London - The
Girdlers Livery Company
5
Sports Aid London -
Greater London Authority
12
Sports Aid South East -
Kent County Council
4
SSE
10
TASS Award Grant
11
TASS project fund
15
The FA
4
Thompson Family
Charitable Trust
13
Other restricted funds
Total restricted funds		 Brought
forward
Income
Expenditure
Transfers
in/out
Gains/
(losses)
Carried
forward
£
£
£
£
£
£
1,877
-
(1,877)
-
-
-
-
1,345,653
(1,338,947)
(6,706)
-
-
2,981
7,273
(9,400)
-
-
854
24,570
-
-
-
-
24,570
110,000
-
(35,548)
-
-
74,452
-
10,000
(10,000)
-
-
-
-
62,082
(53,386)
-
-
8,696
26,500
(4,500)
(11,000)
-
-
11,000
29,376
-
(29,376)
-
-
-
-
25,823
(25,823)
-
-
-
5,250
10,000
(12,500)
-
-
2,750
1,729
-
(1,729)
-
-
-
6,000
60,124
(65,124)
-
-
1,000
-
303
(303)
-
-
-
2,976
73,715
(72,000)
-
-
4,691
1,000
12,500
(12,000)
-
-
1,500
-
101,073
(93,790)
-
-
7,283
9,465
1,535
(10,500)
-
-
500
500
-
(500)
-
-
-
176,058
2,000,000
(1,989,671)
(30,000)
-
156,387
177,185
556,904
(506,225)
-
-
227,864
5,500
-
(4,800)
-
-
700
54,750
100,000
(101,500)
-
-
53,250
32,155
173,374
(192,546)
30,785
-
43,768
667,872
4,535,859
(4,578,545)
(5,921)
-
619,265

The transfer of funds from the Backing the Best fund relates to a contribution to SportsAid’s unrestricted overhead cost for costs jointly attributable to SportsAid awards and Backing the Best awards.

The transfer of funds from the TASS Award grant fund relates to expenditure from this fund on SportsAid fundraising events.

The transfer into other restricted funds relates to a shortfall in unrestricted funds for one award made. This has therefore been covered by unrestricted funds.

Page 51

(A company limited by guarantee)

SPORTS AID TRUST

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

Fund Information:

Page 52

(A company limited by guarantee)

SPORTS AID TRUST

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

22. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Endowment
funds
2020
£
Fixed assets
-
Fixed asset investments
102,185
Current assets
-
Creditors due within one year
-
Loan from unrestricted to
endowment funds
(37,545)
64,640
Endowment
funds
2019
£
Fixed asset investments
115,410
Current assets
-
Creditors due within one year
-
Loan from unrestricted to
endowment funds
(37,545)
77,865		 Endowment
funds
2020
£
Fixed assets
-
Fixed asset investments
102,185
Current assets
-
Creditors due within one year
-
Loan from unrestricted to
endowment funds
(37,545)
64,640
Endowment
funds
2019
£
Fixed asset investments
115,410
Current assets
-
Creditors due within one year
-
Loan from unrestricted to
endowment funds
(37,545)
77,865		 Restricted
funds
Unrestricted
funds
2020
£
2020
£
-
12,840

-
234,428
1,716,694
1,139,273
(881,273)
(758,309)
-
37,545
835,421
669,776
Restricted
funds
Unrestricted
funds
2019
£
2019
£

-
269,286
1,333,943
885,263
(714,678)
(428,185)
-
37,545
619,265
763,909		 Restricted
funds
Unrestricted
funds
2020
£
2020
£
-
12,840

-
234,428
1,716,694
1,139,273
(881,273)
(758,309)
-
37,545
835,421
669,776
Restricted
funds
Unrestricted
funds
2019
£
2019
£

-
269,286
1,333,943
885,263
(714,678)
(428,185)
-
37,545
619,265
763,909		 Total
funds
2020
£
12,840
340,613
2,855,968
(1,639,582)
-
64,640 835,421 669,776 1,569,839

Total
funds
2019
£
384,696
2,219,206
(1,142,863)
-
77,865 619,265 763,909 1,461,039

23. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £20,793 (2019: £21,024).

24. RELATED PARTY TRANSACTIONS

SAF Society is a society under common control, which the Trust occasionally uses for fundraising. At 31 July 2020, the charity owed £4,291 (2019: £4,291) to SAF Society.

During the year trustees purchased no tickets to events held by the charity and its subsidiary (2019: £150). At these events the year trustees spent an aggregate total of £nil (2019: £nil) on auction items.

During the year trustees made donations totalling £nil (2019: £1,000).

During the year the charity received a gift aid donation of £nil (2019: £nil) from its subsidiary company, SAF Promotions Limited. The charity also received income of £1,075 (2019: £1,338) in respect of management services provided. At the year end the charity was owed £38,617 (2019: £25,961) by SAF Promotions Limited.

Page 53