Company Number". 05538901 Registered Charity No.. 1111612 Sports Aid Trust A company limited by guarantee TRUSTEES. ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
Company Number". 05538901 Registered Charity No.. 1111612 Contents Page Trustees, Report Independent Auditor's Report 17 Consolidated statement of financial activities 21 Consolldated balance sheet 22 Charlty balance sheet 23 Consolidated ststement of ¢ashllows 24 Notes to the flnanclal stalements 25
Company Number.. 05538901 Registered Charity No.. 1111612 Trustees, Report The Trustees, who are also directors of the charty for the purposes of the Companies Act, present their report, which includes the directors, report and slralegic report, and financial slalemenls for Ihe year ended 31 July 2025. The financial stalemenls have been prepared in accordance with the accounting policies set out therein and comply with the charity's memorandum and articles and applicable law. Vision & Mission SportsAid was founded on the premise Ihal a sporting joumey can change a life joumey,. a notion that still holds true today. The challenges young people face are greater and more complex than ever and young sports people are not exempl. In fact. in committing to their journey in compelrtive sport, they are likety to see these challenges intensified and morè frequenlty than their peers. Vision: From potential to personal best - whatever your story. SportsAid seeks a fulure where lalenled young alhleles can pursue their ambitions- whatever Iheir background, circumslances or income. A future where lalenl and polenlial is nol losl because life gets in the way and where support from SportsAid comes early. consislentty and without condrtions. Mission: SportsAid exists to champion and support the next generation of athletes to fulfil their potential in sport and in life. SportsAid will provide support when it's needed mosl. The charity brings logelher partners, supporters and alumni lo provide financial help, trusted guidance and belief- particularly at the moments when staying in sport becomes hardest. For five decades, SportsAid has stood alongside young sports people when success was uncertain, and outcomes were unknown. Evolvlng Theory of Change: SION From Desi. atever y(xJr ThE PROBLEM SOLUMONS UstenkvJtoIt aryEtXed INpuIs Prrwldlrg 5UPWt to rrttt BLYry inteni¥JDaW iT51¥E Age ond stage reanl SUPF OUTCOMES Idect & i Cthbtyi¥Ah NG8s ar*1 HEIFE 4 Mure L¥AL4LK)rntNe arml enVIrments ol i[u$ ana tru51 Sports Aid Trust- Year Ended 31 Juty 2025 Page 1
Company Number.. 05538901 Registered Charity No.. 1111612 Objectives & Purpose Providing recognrtion and financial help lo Ihose young sports people with lalenl and potential is considered crucial in nurturing aptitude, aspiration and ambrtion. supporting educational, personal and sporting development in tandem which can have posrtive knock-on effects to their family, friends, peers, youngslers around them and Iheir wider communty. This support helps young people lo develop the building blocks for a happy. healthy life. The charity's objects included in its Articles of Association are.. To advance for the benefit of the public the education of young persons who are pupils at schools, colleges and universities in any part of the British Isles by ensuring that due attention is given to the physical education of such pupils as well as to the development and occupation of their minds and with a view to furthering that object to provide funds and to assisl in the organisation and provision of facilities which will enable and encourage such pupils lo participate in physical recreation and sport., In the interests of social welfare to provide funds or lo organise or provide lor assist in the organisalion or provision of) facilities for recreation in any part of Ihe British Isles Iwith the object of improving the condrtions of life for the persons for whom the same are provided) for persons who by reason of their youth or social and economic circumstances have need of such funds or facilities.. Such objects and purposes in the British Is5 being objects and purposès èxclusively charrtable in accordance with the laws of England and Wales. The Board of Trustees has decided lo fulfil these objectives by providing financial support and recognilion lo lalenled young sports people during the cnlical early slages of Iheir sporting development. Research by the Trust has established that the hvo main recurring barriers to young alhleles progressing in their sport are having sufficient means lo do so and in being ablè lo manage their unusual lifestyle lo accommodale school and family life alongside lime with their friends and meeting their sporting ¢ommrtments. The Truslees have slralegic oversighl of Ihe Trusl's approach lo fundraising through Ihe charity's fundraising strategy which is led by a Head of Fundraising who leads a small team and reports lo the charity's Chief Executive.. no extemal fundraisers are involved. To monitor process and progress, relevant informalion on fundraising and finance is made available lo Ihe Trustees on a regular and routine basis, as well as lo the wider staff leam. The Truslees have reviewed and approved a policy which provides guidance on what should be considered in relation to the Trust's acceptance of income and a slruclured approach to knowing more about potential donors. The Trust is Tegislered with the Fundraising Regulator. In the penod no matters have been raised by Ihe regulalor relating lo Ihe Trusl's fundraising aclivlties and the Trust received no complaints regarding ils fundraising practices. During the Financial year the trust did not engage an external professional fundraiser to cary out income generation nor did il aclively solicit donalions from the general public. Grant making and delegated responsibilities The Trust delivers its Mission through fr)ur support programmes, namely the SportsAid National Awards, Backing the Best. the Talented Athlete Support Scheme (TASS) and the Diploma in Sport Excellence {DiSEI programme. Sports Aid Trust- Year Ended 31 Juty 2025 Page 2
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid The Trustees have delegated responsibilty for the oversight of grant award making through these various support programmes, respeclively. to several sul>commTttees as follows.. to the SportsAid National Awards Commrttee and lo Ihe Nalional Awards Manager", lo the Backing Ihe Best Awards Panel and the Backing the Best Programme Manager.. lo the TASS Management Group and TASS National Director.. and lo the DISE Management Group and the DISE Programme Manager. Each sub-committee is accountable to the SportsAid Trustee Board and each of the operational programme leads report to the charty's Chief Executive. Volunteers The charity is most grateful for the time given by its Trustees and independent sutFcommillee members. The charity also wishes to acknowledge the lime given by its alumni and supporters in relation lo fundraising and evenls, especially lo Ihose laking on vanous sporting challenges during the year or helping the Trust in other ways. e.g. supporting the various in-person engagement events involving athletes and parenlslcarers. Public benefit In shaping the Tnjsl's objeclives for the year and planning rts aclivilies, Ihe Iruslees have considered the Charty Commission's guidance on public benefit, including the guidance 'publi¢ benefit.. running a charity IPB2I'. The trustees confirm that they have complied with the duty in Section 17 of the Chanlies Act 201110 have due regard lo public benefit guidance published by Ihe Charrty Commission and consider Ihal all four areas of SportsAid's work- SportsAid awards, Backing the Best, TASS and DISE - are for the public benefit. Activities & Performance SportsAid provides rècognition and financial help to èmerging young talèntèd sports pèoplè- Ihe next generation of British sporting heroes and heroines- often al a crucial lime in Iheir personal and sporting development. In receiving support from SportsAid and pursuing their ambrtions in their sport, these young people are developing their expenences. their charactèr and their values. The charrty manages and delivers several programmes of support including SportsAid Athlete Awards, the Talenled Alhlete Support Scheme ITASSI, Ihe Diploma in Sporting Excellence IDISEI and Backing The Best. These programmes respond lo the changing needs and development stages of young sports people, supporting their personal, educational and alhlelic developmenl- from the more holist and pasloral lo incorporate more lechnical and laclical input. SportsAid Programme Focus: DISE HIGH POTENTIAL HIGH PERFORMANCE FLWSFHP& Sports Aid Trust- Year Ended 31 Juty 2025 Page 3
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid SportsAid athlete awards are often the first help and recognition a young sports person receives, typically at a crucial lime in their developmenl. Nominations for financial support are received annually from a wide range of nalional goveming bodies of sport based on clear cnteria. The 2024-25 Athlete Survey {by the research agency Hark}, provided updated infomialion and insighl from beneficiaries. Perhaps mosl nolably bul nol surprisingly, average annual cosls lo remain involved with sport have risen by c33Wo since 2021 to just under £9.000 per annum land a little higher for non-disabled athletes} and they are still being asked to travel around 200 milesAveek lo Irain and compele. Backing the Best is a National Lottery funded Sport England programme aimed specifically at helping young, lalenled alhleles in England who face Ihe greatest financial challenges. The programme is focussed on providing recognition and financial support to those athletes and families facing some very challenging Circumstan5, often financial, which may mean thal Ihey cannot fulty engage with sport or lake up the opportunity lo reach their personal best. Backing the Best is a very largeled programme in the Trust's provision for young people which can make a significant impacl in providing access and means lo a specific group Ihal mighl olherwise nol be given the Chance. TASS is a National Lottery funded Sport England programme, managed and delivered through Ihe Trust. that represents a unique partnership belween alhleles approaching the top of the England Talent Pathway. national governing bodies of sport INGBs} and the Higher Education sector. TASS has continued lo evofve and respond to the adapting needs of the sector. implementing learning and enhancing the provision of flexible, sustainable. high-qualily alhlele support services lo talented alhleles. This evolution includes largeled slrenglh and condilioning support for those Backing the Best athletes wrth limited experience and provision. This broadens the programme's provision of support, including io those not in fomal education, by utilising the high quality facililies and personnel in Ihe TASS network. DISE is a nationwide programme supporting young sports people in a College161h Form environment lo acquire a recognised qualificalion - Ihe Diploma- leveraging their aplilude for, and interest in, sport. Programme funding is provided by Sport England. The alhleles should be identified by the NGBS and be of a Consislent, clear ¢rileri*profile. DISE itself is quite accessible to young alhleles from all soci¢>economic backgrounds, but them gelling lo Ihe point of seleclion lo be nominated for a place on the programme may nol be straightforward. Whilst the stubborn and recUlng barriers of travel and other additional costs can be restrictive lo young alhleles, Ihe programme is generalty appealing, including to those less likely lo engage wrth educalion, and can be seen as a fom) of'levelling the playing field, for some in providing surtable attematives and options to continue their development. Across Ihese various support programmes, SportsAid was able lo provide help to just under 5,000 young sports people, including those wrth a disabilty. from a range of over 50 sporting disciplines. This cohort of beneficiaries was broad baland 50-50 for male and female., around 20¥0 were from ethnically diverse communtlies Iwilh a higher representation in Ihe Backing the Best cohort).. and typicalty behveen 15Qh to 20Yo With a disabilty. SportsAid conlinues lo innovale wrth new delivery approaches lo fvrther improve impacl and value lo the recipients. Alongside the charity's online delivery of Ihemed alhlele-parenl support workshops, the provision of SportsAid Live, an in-person gathering of alhleles, parenlslcare- Sports Aid Trust- Year Ended 31 Juty 2025 Page 4
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid givers, specialist topic experts and athlete alumni. has been very well received. wrth the 2024 edition, fealuring SportsAid alumni who competed at the Paris Olympic or Paratympic Games, was a special occasion for all attendees. The Trust's primary purpose is to recognise and help talented young sports people. To support Ihis purpose, Ihe Tnjsl operales both as a fundraiser and award maker al a nalional level. The support provided lo 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 Ihe Trust's work has been the longslanding commitment from Royal Bank of Canada, Aldi, Entain, the Thompson Famity Charrtable Trust and Marsh amongst a variety of other organisalions and individuals which have CoMmed to help SportsAid in the period. The Trusl is also extremely graleful for the invaluable support provided by Eversheds- Suiherfand LLP and Hogarth Worldwide. Anolher importanl aspecl of Ihe Trust's work is lo continue lo develop rts own profile, influence and advocacy in the sport and charity sectors. lo better represent these young people and their families and lo posrtion the Trust as an authoritatrve and leading source of infomialion and insight. During the period, the charty collaborated with Sport England Ithe Govemm8nt's ami's length body lo lead on sport and physical aclivtyl, lo create an inilialive focussing on convening ¢ommunrties to listen and engage on themes around supporting young people to access sport and the lalenl pathway. especially those feeling marginalised and excluded in some way. Ai a minimum rt provides a plarfomi to Captu the fruslralions and INed experiences in a more meaningful, direct way., but il should also support the identification of recurring themes, quick wins and more persistent barriers lo accessing sport. Parls 2024 Alongside Ihe delivery of day-l¢>day operalional commilmenls. Ihere was Ihe excrtemenl of ihe Paris 2024 Otympic and Paratympic Games, which involved hundreds of SportsAid alumni. Major Multsport championships such as the Paris Otympic and Paratympic Games, provide a spotlight on the progress and achievements of Team GB and Paralympics GB. both of which contain athletes previousty supported by the charty. hilsl not a crrtical performance indicator for SportsAid. il can be a milestone moment for many of the aspiring alhleles the chaTty has helped on their joumey. It is certainly an exciting and inspiralional indicalor for the chanty lo share in celebrating Ihe successes of rts beneficiaries.. 64Yo of Team GB alhleles had been supported by SportsAid winning 53 medals 73 /0 of Paratympics GB alhleles had been supported by SportsAid winning 101 medals Sports Aid Trust- Year Ended 31 Juty 2025 Page 5
Company Number.. 05538901 Registered Charity No.. 1111612 Financial Review Overview of financial aclwity The Trust has three main funding sOurS.. through ils fundraising activrties and partnerships, particularty with corporate supporters,. through its ftjndraising events programme, primarily challenge events such as the London Marathon,. and through its long- slanding alliance wrth Sport England Ifor core operational and specific programme fvndingl. The Trust has a refreshed &yeaT fundraising strategy wrth three main pillars.. to create overall net growth,. to rebalance income towards unreslTicled funding,. and lo engage SportsAid's wider community in supporting the charity. Corporate partners continue lo be a crucial supporter of the Trust's work. The 2024-25 period represents the second year of this new strategy and there were encouraging signs of bolh income growth and rebalancing. The maiorty of the funding received from Sport England is to fund the Backing the Best, TASS and latlerty, the DISE programmes. This funding direclty supports thé charrtable activities of thè Trust and allows Ihese programmes lo continue and evolve. Sport England also provides a contribution of core funding towards Ihe Trusl's operalional capacrty. enabling the charity lo conlinue lo raise Ihe funds il requires for the SportsAid awards and build its efficiency and effectiveness. The charty is most appreciative of the support provided by Sport England in providing funds to help the Trust in achieving its charrtable objects and commends the organisation frjr ils continued leadership and financial commitment across the sector SPORTS AID TRUST YEAR ENDED 31 JULY 2025 The Trust's income for the year ended 31 Juty 2025 was £16.80m compared lo £16.03m in 2024. Expenditure for Ihe penod lolalled £16.08m compared lo £15.04m for Ihe year ended Juty 2024. The oveiall benefrt to athletes as a proportion of the Trust's lolal expenditure remained subslanlial187.20kl versus last year191.0%}. Planning for the anlicipaled costs of building team capacrty and two major projecls during the period. the Trust had anlicipaled an unreslricled operational defi¢il for the year ended 31 July 2025 which was in line with expeclalion. Reserves policy is under review however cUrn11Y Ihe Truslees consider that the appropriate level of unreslricled reserves for the Charty to hold is an amount lo cover approximately nine months of the charity's annual unrestricted costs. This has been calculated to enable the Trust to conlinue lo operate should income fall unexpecledly. A ninethmonlh period would therefore enable the Charity lo Continue lo operate whilst identifying any operational changes required. On 31 Juty 2025 lolal reserves were £6,472.125 {£5.717.463 FY231241 wrth £754.823 unrestricted funds, compared to a target level of £685,000. £5.627,037 related to restricted funds and endowment funds of £90,265. The restricted reserves held predominantty relate to athlete award funding to be used in future years. Other reslricled funds relate lo the TASS. Backing the Best and DISE programmes and can only be used wrthin Ihese programmes. The endowmenl fund is a pem)anenl endowmenl reslricled lo support of rowing,. awards a made from this fund as Ihe income allows as Ihe Board of Trustees have determined that the capital is required to be maintained to provide future funding. The Iruslees have approved a balanced budget for the year ended 31 July 2025. It is expected Ihal the continuing challenging fundraising condrtions seen in recenl years will conlinue inlo the coming year but the encouraging signs of a revilalised fundraising strategy gaining traction supports some optimism for growth. Sports Aid Trust- Year Ended 31 Juty 2025 Page 6
Company Number.. 05538901 Registered Charity No.. 1111612 Investment policy and perforrnance The investment powers given to the Trustees by the Trust deed are wide-ranging. The Board of Trustees has delegated the management of the investment's portfolio to the Audit and Risk Committee. Ils policies are.. To employ a repulable Inveslmenl Manager. Currentty BlackRock Investment Management (UK} Ltd. To seek to manage its Charishare accumulating unrts by striking a balance beeen the needs of Ihe present Ireflected in current spending) and the needs of the future Ireinveslmenti. To hold funds required for the day to day running of SportsAd in a bank deposit account. The Committee reviews Ihe performance of the inveslmenl in companson lo Ihe FTSE 100 index at least annualty. The fund grew from £525.791 10 £561.027 outperforming deposit rates and inflation. Rlsk The Truslees have assessed Ihe major risks lo which the chanty is exposed, in particular those relaled lo the operations and finances of the Trusl. These risks are regularly reviewed. and the Trustees are satisfied Ihal systems are in place lo mrtigale the Trust's exposure lo significanl risk. Separate risk registers have been in place for the TASS programme and for the Backing the Best programme,. the intention is lo consolidate these into an overall organisational risk register for the Trust. whilst ensuring the various aspects of these work areas are not overlooked. This risk register also covers the activitEs undertaken by SAF Promotions Limited. The three main risks the ¢haTty considers most pertinent are.. Financial Atthough the Trust's income streams are reasonabty diverse. the security of income generated from fundraising is vilal lo the Trust's abilty lo continue lo support lalenled, young alhletes and lo secure unreslricled funding lo meel operational expendtlure. As such, Ihe Trust continues to look for ways lo develop more predictable income and to rebalance the mix of reslricled and unrestncted income- a key objectNe of the current &year fundraising strategy. Reputational Whilsl charities continue to be more trusted than most other instrlulions and seclors in public life, this trust has eroded somewhat in recent years desprte the positive role played by charities for the public benefrt. It is therefore considered vrtal lo ensure Ihal SportsAid, in ils govemance, communicalions and operalional activty, especially fundraising and in rts interaction with young sports people, maintains an unblemished reputation. Relationships with funders, national goveming bodies of sports and young athleles are approached in such a way as lo ensure that no aclivrties are completed, or communications misdi¢ted. thal may have a delrimenlal effecl on the charity. The active Patronage of HRH The Princess of Wales is a key factor in helping to ensure Ihal Ihe Trusl operales in such a way as lo relain good slanding wrthin Ihe chaTity and sports seclors, as is Ihe endorsement and supporl of funders and beneficiaries alike. Sports Aid Trust- Year Ended 31 Juty 2025 Page 7
Company Number.. 05538901 Registered Charity No.. 1111612 Staffing and capacity SportsAid is staffed by a small. permanent staff team wilh broad experience and relevant expertise. The period has seen some changes lo this leam, wrth some significant reorganisalion and recrurtmenl lo build capacity and expertise. Such changes have been Ihoughlfully planned to avoid any negative impacts on the retention and motivation of staff. Maintaining the posrtive. supportive culture of the organisation during a time of change and uncertainty is considered of high importance lo Ihe Board of Trustees. Effeclive business conlinurty has been delivered and the other risks and issues have been. and continue to be. monitored and addressed proactivety by the chief executive and the wider staff team. Going Concern The Iruslees have assessed whelher the use of Ihe going concem basis is appropriale and have considered possible events or condrtions that might cast significant doubl on the abilrty of the charrtable group to continue as a going concern, including the curTenl cost-of-living crisis and relative political and economic uncertainty. The assessment of risk reflects this, and 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 addrtion, the Trustees have considered the limited effectiveness of SAF PrOmotnS lo generate additional income in recenl years. The trustees have concluded that there is a reasonable expectation that the charitable group has adequate resources lo continue in operational existence for the foreseeable future and in particular for the 12 months from when these accounts are signed. The charrtable group therefore continues to adopt the going concem basis in preparing its financial slalements. Plans for the Future The charty marks its 501h anniversary year in 2026. Planning for the anniversary is underway, with the purpose lo celebTale 50 years of empowering the next generalion of athletes while building awareness, raising funds and engaging supporters, alhleles and alumni lo shape Ihe charrty's next chapter. Maln annlversary oblecllves: Awareness.. raise sport sector and media awareness of SportsAid's impact over the past five decades, while clearly communicating the charty's purpose and freshed vision. Engagement.. r&engage athletes, alumni, supporters and partners through meaningful campaign messaging and events, fostering stronger connections and encouraging ongoing involvemenl with SporlsAid. Fundraising.. generate addrtional income during the anniversary year and strengthen the donor pipeline to support sustainable fundraising growth beyond the campaign. To support Ihese objectives, a review and refresh of various aspecls of Ihe charty's operations, policies and processes is underway wrth a commrtment to continue to develop the charrty's capacrty and capabilrties lo deliver rts mission and be as sustainable and impaclful as possible. One notable aspect of this is the charity's capability to acquire, collate, interrogate and utilise dala lo develop meaningful and largeled engagement (of supporters and beneficiaries). Ralher than continue to invesligate and upgrade per funclion or per programme lo address this, il was decided lo investigate an organisatioTrwide solution - a MUltFfaed project termed Sports Aid Trust- Year Ended 31 Juty 2025 Page 8
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid 'ONESportsAid', which includes a refresh of vision, mission, values and the supporting operational funclions, including a CRM database implemenlalion projecl. Elements of the 'ONESportsAid' organisational change project: One source database Clear, unified brand identity Processes and policies Fundraising Strategy & Case for Sijpport Consistent L¥OSS- prooramme rinAnr.iAI rp.rJnrting Stretegic approach to communiCatnS land language) Review people and roles". Board success R•visit VMOST & cullurelv8lues Investing in a new CRM database is a strategic decision Ihal will enhance SportsAid's ability to build stronger relationships wilh slakeholders lespecially beneficiaries), increase operalional efficiency and improve fundraising oulcomes. All fundamental drivers of impact and growth. More specifically lo enable the abilty to.. Support alhleles, build relationships wilh them and follow their progression. Develop relationships wrth alumni, corporate partners and other Contacts. Support drfferenl fundraising streams and activities Increase impact through better-targeted communications. Evaluate, understand and communicate impact. Improve operational efficiencies for all staff, cross-programmelfunclion. Support compliance, dala securty and minimise risk. Be flexible lo support new iniliatNes and programme changes. To complement this broader engagement wrth beneficianes, and in response from feedback from parents and car&givers of Ihe young people SportsAid support- 89¥¢ of parents and care givers would like SportsAid to provide secure online access to trusted information and advice ISportsAid Parenl Survey by Hark 2024J- the Trust is developing a secure, free-ttraccess online portal, called 'SportsAid Connect,. This portal will be a repository of tTusled and reliable informalion for young sports people and Iheir parents and care-givers, offering a library of reference content on the lopics and Ihemes athletes and parents have asked for from SportsAid. alongside live online sessions wrth topic experts and expenenced athletes. Sports Aid Trust- Year Ended 31 Juty 2025 Page 9
Company Number.. 05538901 Registered Charity No.. 1111612 t young athlete8 need tsom SportsAk'd or4LY WFOFAThLETESF¥[L S ARE JUGGLE TNE DIFFENENTLlfHAWDSOF V4OF PANfWT5AIIDCA*ÉGNÈH5 AIIT PlQn( OMLJME ADREplTE 11 is widety recognised that to succeed in sport. or any meaningful. focussed endeavour. lakes a combination of talent, dedication and hard work. There are other needs loo such as the support of family and friends, significant financial resour$ and perhaps often ovet1ooked or laken for granted. the life skills lo face the inevitable Challenges along the way. The provision for life skills development for young sports people can be palchy. often expensive and not aVayS of the highest qualty. Development is underway lo expand the provision of support under the theme of'life skills,, ie the transferable personal skills that can form the building blocks for a happy healthy life. in sport or more widely, such as financial literacy, menlal rrtness and communication skills. Early intervention in these areas is recognised to be crucial in CTealing a positive ripple effect for the overall success of alhleles in sport and beyond. a themé Ihal links strongly wrth Ihe work being led by Ihe Royal Foundation under Ihe leadership of SportsAid's Patron HRH The Princess of Wales. This 'life skills. module will form a central part of SportsAid's work in developing an online resource hub SportsAid Connect. Evolutlon of SportsAld alhlele awards The SportsAid athlete award programme has èvolved SnIficant ovèr the years, but thère is a pressing need lo continue lo adapt and respond lo change. Within the cohort of alhleles SportsAid supports each year, all have been identified as having notable potential in their sport. fewer have been identified as having significant financial and circumstantial barriers. This was illuslraled in the recenl postcode ACORN analysis by CACI on behalf of SportsAid. The current approach is effective in recognising talent and polenlial, but Ihere is an opportunrty lo evolve SportsAid awards lo better address inequalities of access and support lo focus more on supporting alhleles who face the most significant financial challenges land other barriers) while demonslraling exceptional lalenl and potential in their sport." lo help Ihem more effectively Igrealer impacl of Ihe support), and lo better support the narralive around SportsAid's Case for Support wrth potential supporterslpartners. During 2026, the charty will plan, deliver and evaluate a pilot of a revised more largeled approach lo providing athlete awards. The new approach would.. Embed financial hardship and personal circumslances as core elements of the eligibility criteria
From consultation wrth athletes. offer awards of up to £2.500 per alhlete to a smaller number in 2026, with the purpose of securing fijrther resources to grow the number of athletes being helped in subsequent years Sports Aid Trust- Year Ended 31 July 2025 Page 10
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid Strengthen athlete supwrt services leg. mentoring, financial planning, lifestyle advice) via the new SportsAid Connect offer, to maximise the impact of the award Monitor Ihe pilot and evaluate impact and leamings To complement the insighl gathered from this beneficiary and slakeholder consultalion, an independenl evalualion of Ihe impacl of Ihe various nalional governing body lalenl inclusion projects funded through Backing the Best will be undertaken. Findings from this evaluation will help to inform the next phase of the charty's investment into creating a more accessible and inclusive sporting palhway. Team England Futures ITEF) SportsAid is again the chosen partner lo collaborate with Commonwealth Games England ICGEI lo develop and deliver the next edrtion of Team England Futures at the Commonwealth Games in Glasgow in 2026, building on Ihe successful delivery of this 'next generalion, projecl by SportsAid for CGE al Ihe Commonweahh Games in Bimiingham in 2022. Team England Fulures is an immersive and inspiratnal project, creating the opportunty for a Cohort of emerging athletes and coaches to experience the various aspects of a major mutti- sport Games, in-person, but wrthout the added pressure of performance and competition. 11 is also an excellent development opportunity for Ihe SportsAid team lo COn1Ve, develop and deliver such a high profile pro11. SportsAld Values As part of the ONESportsAid approach. a review of the charty's values is underway. We put athletes flrst The lived experience, wellbeing and long-lem fuluTe of young sports people guide the charity s decisions. Alumni consislenlty reflecl Ihal SportsAid was the only organisalion who supported them with no personal agenda- simpty because we believed in them. We ¢hamplon falrness and Inclu3lon Talent is evewhere bul opportunty is not. SportsAid lakes diversity and inclusion seriousty- from ensuring 50150 gender representation in our awards, amplifying diverse voices, lo supporting the national governing bodies of sport to build more inclusive pathways. We work together SportsAid's culture is built on trusl, mutual support and Ihe willingness lo share mislakes and learn from them. We collaborale openly across teams and wtlh partners who Sha our purpose. We are arnbitious and accountable SportsAid sets high standards. We reflect honestty. leam continuousty and take responsibility for improving. Sports Aid Trust- Year Ended 31 July 2025 Page11
Company Number.. 05538901 Registered Charity No.. 1111612 Structure, Governance & Management Constitution SportsAid was formed in 1976 as Ihe Sports Aid Foundation Limited. For Ihe firsl 21 years of its life, the charity funded high performance lelrte) athletes when no other funding was available lo them. With the introductKsn of National Lottery funding for elrte athletes in 1997, the charity changed rts focus to young, lalenled alhleles lo ensure that funding was nol duplicated and Ihe charity's funds were used in the most advantageous way in order lo provide progress towards its objectives. Sports Aid Trust was inwrporated on 17 Augusl 2005 as a company limited by guarantee and is govemed by rts Articles of Association. It is a registered charrty (Chanty No. 11116121. It was formed lo assume the ro of the unincorporated charty Sports Aid Trust (Charity No. 2869171, founded by trust deed in 1983 and referred lo henforth as Sports Aid Trusl119831. The previous Memorandum and Articles of Association were prepared under the Companies Act 1985. In 2017 the Trustees asked Eversheds-sulherland LLP lo review and updale Ihe formal and references of these Articles lo bring them in line with the Companies Act 2006 land the Charities Act 20061. The Companies Act 2006 does not require a Memorandum of Associalion in addition lo the Articles. so Ihe tsvo dMentS were merged lo creale 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. As part of SportsAid's ongoing support from Sport England. the Trust is Tequired to meet the standards noted in the Code for Sports Governance. Method of appolntrnent or electlon of Trustees The Truslees are elecled by Ihe charty's trustees {who are the sole members of the company) in accordance with the Articles of Association. The Articles of Association require Iruslee appointments lo be completed via an open recrurtment process that has been publicly advertised. The Trustees who served during the year and to the date of this report are set out on page 15. Wrth Mr Mike Westcott completing three full terms as trustee. his managed retirement from the Board prompted a Chair search and succession process, through open recrurtment, which was concluded wrth the appoinlmenl in February 2026 of Mr David Thomas as Chair of the Board of Tnjslees. Notrficalion of resignation was received from Heather Clark-ChaTTington and Penny Brough, both of whom have served Iwo lerms as Iruslees. Ms Clark-CharTington slepped down in February 2026 and Ms Brough will remain involved until May 2026 lo support succession planning and continuty when she will then slep down. These changes will prompl furthei Board iecTUrtmenl during 2026 following an updated Board skills analysis before drafting the search specificalion. The charrty's induction programme for new TrusIS is as advised by Ihe Chartty Commission and the Sport England Code for Sports Govemance. There is no fomial ongoing training programme for the Board of Trustees, but a budget is available for trustees lo access training that they feel is relevant,. a regular review of the Board's range of skills and experience is Sports Aid Trust- Year Ended 31 July 2025 Page 12
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid completed as well as assessing Trustees, circumstances and interest areas to make the most effeclive and efficienl use of their lime and inpul. Several of the Trustees may have a sporting background so advice on more generic charty issues is available lo them from the more experienced Trustees and through the Charty Commission. An independenl, extemal Board Evaluation is completed every three or four years. Organisational structure and decision making For the majority of the year. the Sports Aid Trust was served by fifteen pernanent staff led by the chief executive plus a further frfteen staff seconded to the charrty from Northumbria Universty", Ihese seconded members of staff operate TASS. The permanent members of staff operate SportsAid awards, Backing the Best and DISE along wilh providing overall managemenl of Ihe charty. These staff are grouped inlo four main areas of operation - management and leadership.. programme management lallocalion of resources through SportsAid awards, Backing the Besl and DISEI.. fundraising and communications.. and finance. SportsAid awards are funded from charitable fundraising, whilst TASS and Backing the Best are funded by National Lottery funding and the DISE programme through Exchequer funding, each awarded through Sport England. The Board of Truslees provide the slralegic directn for the Trusl and monrtor performance againsl the slralegic priorrties.. Ihe Board of Truslees meels al leasi four limes a year. Delegated aulhorty is in place to the chief executive for day-l¢>day operations of the charty. Boa of TNIt••• Audit & Risk Commrttee Nafional Award$ Committe• TASS manernet Group Bathlng th• eesl Award8 Panel DISE Management Group The sub-committee structure of the Trust is shown above- the Audit and Risk Committee IA&RI,' the National Awards Committee INAC),. the TASS Management Group ITMGI., the Backing the Best Awards Panel IBTB),. and Ihe DISE Management Group IDMGI. These are Ihe principal SUtCOMmitteeS along with an ad hoc Nominations Committee and Remuneration Committee. All sutpcommittees will include at least Iwo members of the Board of Trustees as well as independent members. Additionalty, and as required, other temporary advisory groups may be convened such as those for major events, projects or the 50, anniversary year planning,. these advisory groups are likety lo be temporary and will be disbanded following the completion of their purpose. The Audrt and Risk CoMMee meets quarterty whilst each of the other sub-committees meet Ihree limes a year. Sports Aid Trust- Year Ended 31 July 2025 Page 13
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid The charty has a wholty owned trading subsidiary. SAF Promotions Limrted (company number 02508698}, through which Irading aclivities and large-scale fvndraising events are completed. The board of direclors of SAF Promolions Limrted reports lo Ihe Board of Truslees. Related party relationships Sports Aid Foundation Society is an unincorporated society which has the same objectives as Sports Aid TTUSt. Its committee is the same as the Sports Aid Trust Board of Trustees. The Society has a 31 October year end. The Society was domanl during Ihe financial year ended 31 October 2025. One regional SportsAid charty operales in England under linCe from Sports Aid Trust.. Sports Aid Eastern Iregislered company number 03574841 and registered charity number 10709571. This entity has its own Board of Trustees and is independent of Sports Aid Trust but their charrtable objectives are similar lo those of Sports AKI Trust and are reslricled lo Iheir region. Sports Aid Trust has a very close working relationship with Sports Aid Eastern to further the Trust's charrtable objects and provides grant funding to help wrth rts overhead costs. Sports Aid Trust has also established fulty effective working relationships with similar trusts which operate in Scotland Isports Aid Scolland), Wales (Sports Aid Wales} and Northem Ireland (The Mary Peters Trus1}. The organisalions have been working logelher for a number of years for the benefrt of talented alhleles across the Unrted Kingdom. Key Management Personnel Remuneratlon Remuneration of key management personnel is set by the Remuneration Commee. an ad hoc sub-group of the Audrt and Risk Committee and ratified by the Board of Trustees as part of the annual budget setting process. The Audrt and Risk Committee consider Ihe 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. An exercise lo benchmark the salanes offered by Ihe Trust wilh those most relevant organisalions across the charty and sport sectors is conducted every couple of years.. the most recent exercise found the Trust's provision lo be congruent. Sports Aid Trust- Year Ended 31 July 2025 Page 14
Company Number.. 05538901 Registered Charity No.. 1111612 Administrative Information Trustees Mr M Westcott, Chair (Retired 23102120261 Mr David Thomas Chair {Appointed 23102120261 Msvsim Ms H Clark-charrington {Relired 23102120261 Ms P Brough Sir M Pinsent CBE Ms A Agbeze MBE Ms C Bishop Ms E George Company registered Number 05538901 harlty reglstered Number 1111612 Reglstered offlce House of Sport Marathon House 190 Great Dover Street London SE14YB Company secrelary Mr T Cheeseman Chlef •x•cutlve officer Mr T Lawler MBE Independent audltor Saffery LLP 71 Queen Victoria Street London EC4V 4BE Bankers Lloyds Banking Group plc 39 Threadneedle Street London EC2R 8AU Solicitors Eversheds-suthedand LLP One Wood Street London EC2V 7WS Investment manager Blackrock Investment Management {UKI Ltd 12 Throgmorton Avenue London EC2N 2DL Sports Aid Trust- Year Ended 31 July 2025 Page 15
Company Number.. 05538901 Registered Charity No.. 1111612 Trustees, Responsibilities Statement The Trustees {who are also directors of Sports Aid Tnjst for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunrted Kingdom Generally Accepted Accounling Praclice). Company law requires the Trustees to Prepare financial statements for each financial year. Under company law the Trustees musl nol approve the financial slalemenls unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and the group and of the incoming resources and application of resources. including the income and expendilure, of Ihe chantable group for Ihal period. In preparing these financial statements. the Trustees are required to.. selecl surtable accounting policies and then apply Ihem consislenlty,. observe the methods and principles in the Chanlies SORP., make judgments and accounting eslimales thal are reasonable and prudent,. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on the going concern basis unless rt is inappropriatè to presume Ihal the charilable group will conlinue in operation. The Trustees are responsible for keeping adequate accounting COrdS that are sufficiènt to show and explain Ihe chanlable company and Ihe group's transactions and disclose with reasonable accuracy al any lime the financial position of the charilable group and enable them lo ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for laking reasonable sleps for the prevention and detection of fraud and other irregularities. So far as each of the Trustees is awa at the lime the report is approved.. there is no relevant audit infomiation of which the chanty and the group's auditors are unaware, and the Truslees have laken all steps Ihal they ought lo have taken lo make themselves aware of any relevant audit information and lo establish that the audrtors are aware of that information. Auditor A resolution proposing that Saffery LLP be re-appointed as auditors of the charity and the group will be pul lo Ihe Annual General Meeling. This report, which includes Ihe d1ClOrS, report and Strategic Report, was approved by the Trustees on 28 April 2026 and was signed on their behalf by.. David Thomas Chair and Trustee Sports Aid Trust- Year Ended 31 July 2025 Page 16
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPORTS AID TRUST Opinion We have audrted the financial statements of Sports Aid Trust (the 'parent charitable company'} and its subsidiary Ilhe 'group'l for the year ended 31 July 2025 which comprise Ihe Consolidated Statement of Financial Actwrties. the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes lo the financial stalements, including a summary of significanl accounting F)olicies. The financial reporting framework thal has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standards Iuniled Kingdom Generalty Accepted Accounting Practice) including FRS 102 'The Financial Reporting Slandaid Applicable in Ihe UK and Ireland.. In our opinion the financial statements.. give a true and fair view of the slate of the affairs of the group and the parent charitable company as al 31 Juty 2025 and of the group's incoming resources and application of resources, including rts income and expenditure. for the year then ended", have been propety prepared in accordance with United Kingdom Generalty Accepted Accounting Praclice.. and have been prepared in a¢¢ordance with the requirements of the Companies A¢1 2008. Basls for oplnlon We conducted our audit in accordance wrth International Standards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibiif(ies under those standards are further described in Ihe Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the group and parent charitable company in accordance with the elhical reqviremenls Ihal are relevanl lo our audrt of Ihe financial slalemenls in Ihe UK, including Ihe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtained is sufficient and appropnale lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the Preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectivety, may cast significant doubt on the group or the parent charrtable company's ability lo continue as a going concern for a period of al least Iwelve months from when Ihe financial slalemenls a aulhorised for issue. Our responsibilities and the responsibilities of the trustees wilh respecl lo going concem are described in Ihe relevanl sections of Ihis report. Other inforniation The other information comprises the information included in the annual report, other than the financial statements and our audrtorfs report thereon. The trustees are responsible for the other infomalion. Our opinion on Ihe financial slalemenls does nol cover Ihe olher infomalion and, except lo the extent otherwise explicitty staled in our report. we do nol express any fomi of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing Sports Aid Trust- Year Endeil 31 July 2025 Page 17
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPORTS AID TRUST (continued) so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent malerial misslalemenls, we are required to delemiine whether this gives rise to a material misstatement in the financial statements themsefves. If, based on the work we have performed. we conclude that there is malenal misslalemenl of Ihis olher infom)alion," we are required lo report Ihal facl. We have nothing lo report in this regard. Other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, Annual Report which includes the Directors, Report and the Strategic Report for Ihe financial year for which the financial slalemenls are prepared is Consislenl wrth the financial statements.. and the Trustees, Annual Report which includès the Directors, Report and thè Strategic Rèport has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to rèport by exceptlon In Ihe light of Ihe kn¢)wledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audrt. we have not identified material misstatements in the Trustees, Annual Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 require us lo report lo you if, in our opinion.. adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visrted by us,. or the parent charitable company financial stalemenls are not in agreement wrth the accounting records and retums.. or ertain disclosures of trustees, remuneration specifpd by law are not made.. or we have nol received all Ihe infonnalion and explanations we require for our audit. Responsibilities of trustees As explained more fulty in the Slalement of Trustees. Responsibilities set out on page 16, the trustees Iwho are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial slalements and for being satisfied that they give a tnje and fair view, and for such inlemal control as the Iruslees delemiine is necessary lo enable the preparab'on of the financial stalemenls that are free from malenal misslalement, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group and the parent charitable company's abilty to continue as a going concem. disclosing, as applicable, matters related lo going concem and using Ihe going concem basis of accounting unless the Sports Aid Trust- Year Endeil 31 July 2025 Page 18
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPORTS AID TRUST (continued) Iruslees either inlend lo liquidale Ihe group or Ihe parent charitable company or lo cease operations, or have no realistic alternative bul to do so. Auditor's responsibilities for the audit of the financial sLiternents We have been appointed as audrtors under the Companies Act 2006 and report in accordance with regulations made under that Acl. Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstalemenl, 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. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS delecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered matenal if, individualty or in the aggregate, Ihey could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stalemenls. Irregularities. including fraud. are instances of nOn-mpl1an with laws and regulations. We design procedures in line with our responsibilrties, outlined above. to delect material misslalemenls in respect of irregulanties, including fraud. The specific procedures for this engagement and the extent to which these are capable of deteing irregularities. including fraud are detailed below. Identifying and assessing risks relaled to irregularilies.. We assessed the susceptibility of the group and paTent chantable company s financial slalemenls lo material misslalemenl and how fraud might occur, including Ihrough discussions with the Iruslees, discussions within OUT audrt team planning meeting, updating our record of internal controls and ensuring these controls operaled as intended. We evaluated possible incenlives and opportunilies for fraudulent manipulation of Ihe financial slalemenls. We identified laws and regulations that are of significance in the context of the group and parent charrtable company by discussions with tTuslees. and updating our understanding of the sector in which the group and parent charitable company operate. Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Acl 2006 and guidance issued by the Chanty Commission for England and Wales. Audil response lo risks Klenlified.. We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial slalemenl rtems including a review of financial slalemenl disclosures. We reviewed the parent charitable company's records of breaches of laws and regulations. minutes of meetings and correspondence with relevant authorities lo identify polenlial malerial misslalemenls arising. We discussed Ihe parenl chaTrtable company s policies and procedures for compliance with laws and regulations wtth members of managemenl responsible for compliance. During the planning meeting with the audil team. the engagement partner drew attention lo the key areas which might involve non-compliance wrth laws and regulations or fraud. We enquired of management whether Ihey were aware of any instances of non-compliance wrth laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management ovemde of controls by testing the appropnateness of journal entries Sports Aid Trust- Year Endeil 31 July 2025 Page 19
Company Number.. 05538901 Registered Charity No.. 1111612 SportsAid INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPORTS AID TRUST (continued) and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whetherjudgements made in making accounting estimates gave rise to a possible indicalion of managemenl bias. Al Ihe completion stage of Ihe audit, Ihe engagemenl partne¢s review included ensuring that the team had approached their wotk with appropriate professional sceplicism and thus the capacty to identify non-compliance with laws and regulalions and fraud. There are inherent limrtations in the audit procedures described above and the further removed non-compliance wrth laws and regulalions is from Ihe events and Iransaclions reflecled in Ihe rinancial slalements. the less likety we would become aware of rt. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberale concealment by, for example, forgery or intentional misrepresenlalions, or through collusion. A fijrther description of our SponSibl1111es is available on the Financial Reporting Council's websile al.. mvw.frc.org.uklaudrtorsresponsibilrties. This descnption forms part of our audilor's report. Use of our report This Teport is made solely to the parent charrtable company's members. as a body, in accordance wilh Chapter 3 of Part 16 of the Companies Acl 2006. Our audit work has been undertaken so Ihal we might slate lo the parent chanlable company's members those matters we are required lo slate to them in an audrtor's report and for no other purpose. To the fullest extent pemed by law, we do not accepl or assume responsibility lo anyone other Ihan Ihe parent chanlable company and the parent charitable company's members as a body, for our audit work. for this report. or for the opinions we have formed. Helen Wilkie (Senior Slalulory Audilor) for and on behalf of Saffery LLP Slalulory Audrtors 71 Queen Viclona stet London EC4V 4BE Date.. 08 May 2026 Saffery LLP is eligible to act as an auditor in temis of seclion 1212 of the Companies Act 2006 Sports Aid Trust- Year Ended 31 July 2025 Page 20
Company Number: 05538901 Registered Charity No: 1111612
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025
(Incorporating the income and expenditure account)
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | ||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||
| Note | £ | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM: | ||||||
| Donations and legacies | 2 | 793,618 | - | - | 793,618 | 451,878 |
| Other trading activities | 3 | 12,915 | - | - | 12,915 | 15,605 |
| Investments | 4 | 25,375 | - | - | 25,375 | 93,888 |
| Charitable activities | 5 | 365,000 | 15,596,429 | - | 15,961,429 | 15,472,844 |
| Other | - | 5,065 | - | 5,065 | - | |
| -------------------------------------- | ----------------- | ----------------- | ----------------- | |||
| TOTAL INCOME | 1,196,908 | 15,601,494 | - | 16,798,402 | 16,034,215 | |
| ==================================================== | ||||||
| EXPENDITURE ON: | ||||||
| Raising funds | 6 | 497,212 | 1 | - | 497,213 | 316,495 |
| Charitable activities | ||||||
| Supporting athletes and sporting | ||||||
| excellence | 6 | 924,245 | 14,656,518 | 1,000 | 15,581,763 | 14,727,338 |
| -------------------------------------- | ----------------- | ----------------- | ----------------- | |||
| TOTAL EXPENDITURE | 1,421,457 | 14,656,519 | 1,000 | 16,078,976 | 15,043,833 | |
| ==================================================== | ||||||
| Net operating (expenditure)/ income | (224,549) | 944,975 | (1,000) | 719,426 | 990,382 | |
| Net gains on investments | 11 | 24,665 | - | 10,571 | 35,236 | 54,608 |
| -------------------------------------- | ----------------- | ----------------- | ----------------- | |||
| Net (expenditure)/ income | (199,884) | 944,975 | 9,571 | 754,662 | 1,044,990 | |
| Transfers between funds | 14 | (85,596) | 85,596 | - | - | - |
| -------------------------------------- | ----------------- | ----------------- | ----------------- | |||
| NET MOVEMENT IN FUNDS FOR THE YEAR | (285,480) | 1,030,571 | 9,571 | 754,662 | 1,044,990 | |
| Total funds brought forward | 1,040,303 | 4,596,466 | 80,694 | 5,717,463 | 4,672,473 | |
| -------------------------------------- | ----------------- | ----------------- | ----------------- | |||
| TOTAL FUNDS | 754,823 | 5,627,037 | 90,265 | 6,472,125 | 5,717,463 | |
| ==================================================== |
The notes on pages 25 – 37 form part of these financial statements.
Sports Aid Trust – Year Ended 31 July 2025
21
Company Number: 05538901 Registered Charity No: 1111612
CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible fixed assets | 10 | 24,272 | - | ||
| Investments | 11 | 561,027 | 525,791 | ||
| --------------- | --------------- | ||||
| 585,299 | 525,791 | ||||
| CURRENT ASSETS | |||||
| Debtors | 12 | 4,677,528 | 126,141 | ||
| Cash at bank and in hand | 3,067,374 | 12,136,347 | |||
| --------------- | --------------- | ||||
| 7,744,902 | 12,262,488 | ||||
| CREDITORS:amounts falling due within one year | 13 | (1,858,076) | (7,070,816) | ||
| --------------- | --------------- | ||||
| NET CURRENT ASSETS | 5,886,826 | 5,191,672 | |||
| --------------- | --------------- | ||||
| NET ASSETS | 6,472,125 | 5,717,463 | |||
| ========= | ========= | ||||
| CHARITY FUNDS | |||||
| Unrestricted funds | |||||
| General funds | 14 | 518,498 | 731,793 | ||
| Designated funds | 14 | 236,325 | 308,510 | ||
| Endowment funds | 14 | 90,265 | 80,694 | ||
| Restricted funds | 14 | 5,627,037 | 4,596,466 | ||
| --------------- | --------------- | ||||
| TOTAL FUNDS | 6,472,125 | 5,717,463 | |||
| ========= | ========= |
The financial statements were approved and authorised for issue by the trustees on 28 April 2026 and are signed on their behalf, by:
…......................................
David Thomas Chair and Trustee
The notes on pages 25 – 37 form part of these financial statements.
Sports Aid Trust – Year Ended 31 July 2025
Page 22
Company Number: 05538901 Registered Charity No: 1111612
CHARITY BALANCE SHEET AS AT 31 JULY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible fixed assets | 10 | 24,272 | - | ||
| Investments | 11 | 561,029 | 525,793 | ||
| --------------- | --------------- | ||||
| 585,301 | 525,793 | ||||
| CURRENT ASSETS | |||||
| Debtors | 12 | 4,742,136 | 164,420 | ||
| Cash at bank and in hand | 2,993,292 | 12,088,548 | |||
| --------------- | --------------- | ||||
| 7,735,428 | 12,252,968 | ||||
| CREDITORS:amounts falling due within one | |||||
| year | 13 | (1,851,761) | (7,067,038) | ||
| --------------- | --------------- | ||||
| NET CURRENT ASSETS | 5,883,667 | 5,185,930 | |||
| --------------- | --------------- | ||||
| NET ASSETS | 6,468,968 | 5,711,723 | |||
| ========= | ========= | ||||
| CHARITY FUNDS | |||||
| Unrestricted funds | |||||
| General funds | 14 | 515,341 | 726,053 | ||
| Designated funds | 14 | 236,325 | 308,510 | ||
| Endowment funds | 14 | 90,265 | 80,694 | ||
| Restricted funds | 14 | 5,627,037 | 4,596,466 | ||
| --------------- | --------------- | ||||
| TOTAL FUNDS | 6,468,968 | 5,711,723 | |||
| ========= | ========= |
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 2025 was £757,245 (2024: inflow of £1,044,052).
The financial statements were approved and authorised for issue by the trustees on 28 April 2026 and are signed on their behalf, by:
…...................................... David Thomas Chair and Trustee
The notes on pages 25 – 37 form part of these financial statements.
Sports Aid Trust – Year Ended 31 July 2025
Page 23
Company Number: 05538901 Registered Charity No: 1111612
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
| FOR THE YEAR ENDED 31 JULY 2025 CONSOLIDATED STATEMENT OF CASH FLOWS |
||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Note | £ | £ | ||
| Cash flow from operating activities | ||||
| Net cash (used in) / provided by operating activities | A | (9,070,076) | 6,554,645 | |
| Cash flows from investing activities | ||||
| Purchase of intangible assets | (24,272) | - | ||
| Investment income and interest received | 25,375 | 93,888 | ||
| --------------- | --------------- | |||
| Net cash provided by investing activities | 1,103 | 93,888 | ||
| Net (decrease) / increase in cash and cash equivalents | (9,068,973) | 6,648,533 | ||
| Cash and cash equivalents at beginning of year | 12,136,347 | 5,487,814 | ||
| --------------- | --------------- | |||
| Cash and cash equivalents at end of year | 3,067,374 | 12,136,347 | ||
| ========= | ========= | |||
| Note A | ||||
| Reconciliation of net income to net cash flow from operating activities | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Net income including endowments | 754,662 | 1,044,990 | ||
| Net gains on investments | (35,236) | (57,722) | ||
| Investment income | (25,375) | (93,888) | ||
| Decrease in stock | - | 5,943 | ||
| (Increase)/ decrease in debtors | (4,551,387) | 13,492 | ||
| (Decrease)/ increase in creditors | (5,212,740) | 5,641,830 | ||
| --------------- | --------------- | |||
| Net cash (used in) / provided by operating activities | (9,070,076) | 6,554,645 | ||
| ========= | ========= | |||
| Analysis of changes in net funds | ||||
| At 1 August | At 31 July | |||
| 2024 Cash flows | 2025 | |||
| £ | £ | £ | ||
| Cash | 12,136,347 (9,068,973) | 3,067,374 | ||
| ========= ========= | ========= |
The notes on pages 25 – 37 form part of these financial statements.
Sports Aid Trust – Year Ended 31 July 2025
Page 24
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. ACCOUNTING POLICIES
1.1 COMPANY STATUS
The charity is a company limited by guarantee incorporated in England and Wales. The members of the company are the trustees named on page 15. 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. Details of the registered office address are provided on page 15.
1.2 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. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies adopted in the preparation of the financial statements are set out below.
1.3 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 current cost-of-living crisis and relative political and economic uncertainty. The assessment of risk reflects this and 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 limited effectiveness of SAF Promotions to generate additional income in recent years.
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.
1.4 INCOME RECOGNITION
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income from the government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
Income received by the charity from donated services is recognised in income and expenditure at the estimated value of the service to the charity.
Sports Aid Trust – Year Ended 31 July 2025
Page 25
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. ACCOUNTING POLICIES
1.5 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.
Designated funds are earmarked formally by the trustees for a particular purpose and can be formally undesignated and go back into the general fund.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.6 ENDOWMENT FUNDS
The endowment funds represent those assets which usually must be held for the longer term 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.
1.7 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.
Expenditure on 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.
1.8 GRANTS EXPENDITURE
Grant commitments are recognised when there is a binding obligation and the recipient has a valid expectation of receipt.
1.9 VOLUNTEER TIME
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Sports Aid Trust – Year Ended 31 July 2025
Page 26
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. ACCOUNTING POLICIES
1.10 BASIS OF CONSOLIDATION
The financial statements consolidate the accounts of Sports Aid Trust and its subsidiary undertaking, SAF Promotions Limited, ('subsidiary') for the year ended 31 July 2025 on a line by line basis.
1.11 INTANGIBLE ASSETS
All intangible fixed assets related to computer software. Computer software is amortised straight line over a period of 3 years. Assets under development are not amortised.
1.12 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.
1.13 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.
1.14 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.
1.15 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.
1.16 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 12 and 13 for the debtor and creditor notes.
1.17 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.
Sports Aid Trust – Year Ended 31 July 2025
Page 27
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
2. DONATIONS & LEGACIES
| 2. | DONATIONS & LEGACIES | ||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations | - | 653,382 | 653,382 | 330,949 | |
| Challenge events | - | 140,236 | 140,236 | 120,929 | |
| ------------------- | ------------------- | ------------------------------------- | |||
| - | 793,618 | 793,618 | 451,878 | ||
| =========== | ================================ | ||||
| 3. | OTHER TRADING ACTIVITIES | ||||
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Other fundraising events | - | 12,915 | 12,915 | 15,605 | |
| ------------------- | ------------------- | ------------------------------------- | |||
| - | 12,915 | 12,915 | 15,605 | ||
| =========== | ================================ | ||||
| 4. | INVESTMENT INCOME | ||||
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Interest received | - | 25,375 | 25,375 | 93,888 | |
| ------------------- | ------------------- | ------------------------------------- | |||
| - | 25,375 | 25,375 | 93,888 | ||
| =========== | ================================ | ||||
| 5. | INCOME FROM CHARITABLE ACTIVITIES |
| Designated | Designated | |||||
|---|---|---|---|---|---|---|
| and | and | |||||
| Restricted | Unrestricted | Restricted | Unrestricted | Total | Total | |
| funds | funds | funds | funds | funds | funds | |
| 2025 | 2025 | 2024 | 2024 | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| TASS grant | 4,180,000 | - | 3,315,000 | - | 4,180,000 | 3,315,000 |
| TASS projects | 456,044 | - | 534,580 | - | 456,044 | 534,580 |
| DiSE grant | 8,423,921 | - | 8,423,921 | - | 8,423,921 | 8,423,921 |
| Backing the Best grant | 2,480,000 | - | 2,480,000 | - | 2,480,000 | 2,480,000 |
| Other Sport England grants | - | 365,000 | - | 365,000 | 365,000 | 365,000 |
| Other grants | 56,464 | - | 204,802 | 149,541 | 56,464 | 354,343 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | |||
| 15,596,429 | 365,000 | 14,958,303 | 514,541 | 15,961,429 | 15,472,844 | |
| ====================== | =========== | ================================ |
The TASS, Backing the Best, DiSE and Sport England grants are all received from Sport England. The National Lottery provides the funding for TASS and Backing the Best which is then received from Sport England.
Sports Aid Trust – Year Ended 31 July 2025
Page 28
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. ANALYSIS OF EXPENDITURE BY TYPE
| Other Direct | Support | ||||
|---|---|---|---|---|---|
| Grants | costs | costs | Total | ||
| 2025 | 2025 | 2025 | 2025 | ||
| £ | £ | £ | £ | ||
| Note 7 | |||||
| Raising funds | - | 497,213 | - | 497,213 | |
| Charitable activities | |||||
| TASS | 3,608,799 | 347,075 | 355,609 | 4,311,483 | |
| DiSE | 8,083,226 | 76,732 | 14,388 | 8,174,346 | |
| Backing the Best | 1,959,027 | 99,157 | 18,592 | 2,076,776 | |
| Sports Aid - core | 368,600 | 329,281 | 266,932 | 964,813 | |
| Governance costs | Note 8 | - | - | 54,345 | 54,345 |
| ------------------- | ------------------- | ------------------------------------- | |||
| 14,019,652 | 852,245 | 709,866 | 15,581,763 | ||
| ------------------- | ------------------- | ------------------------------------- | |||
| Total expenditure | 14,019,652 | 1,349,458 | 709,866 | 16,078,976 | |
| =========== | ================================ | ||||
| Other Direct | Support | ||||
| Grants | costs | costs | Total | ||
| 2024 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | ||
| Note 7 | |||||
| Raising funds | - | 316,495 | - | 316,495 | |
| Charitable activities | |||||
| TASS | 2,863,482 | - | 361,985 | 3,225,467 | |
| DiSE | 7,939,527 | 37,238 | 6,982 | 7,983,747 | |
| Backing the Best | 2,077,551 | 82,443 | 15,458 | 2,175,452 | |
| Sports Aid - core | 810,500 | 285,484 | 215,874 | 1,311,858 | |
| Governance costs | Note 8 | - | - | 30,814 | 30,814 |
| ------------------- | ------------------- | ------------------------------------- | |||
| 13,691,060 | 405,165 | 631,113 | 14,727,338 | ||
| ------------------- | ------------------- | ------------------------------------- | |||
| Total expenditure | 13,691,060 | 721,660 | 631,113 | 15,043,833 | |
| =========== | ================================ | ||||
| Expenditure on grants | includes: | 2025 | 2024 | ||
| £ | £ | ||||
| Grants to institutions | University of Loughborough | 5,278,414 | 4,904,487 | ||
| SGS | 2,196,242 | 1,986,127 | |||
| Hartpury College | 171,171 | 279,851 | |||
| Marathon Sports with Canterbury College | - | 260,832 | |||
| Bishop Burton College | 51,623 | 54,340 | |||
| Exeter College | 54,340 | 54,340 | |||
| Activate Learning (City of Oxford College) | 67,925 | 70,642 | |||
| Other < £50,000 | 263,511 | 328,908 | |||
| ------------------------------------- | |||||
| 8,083,226 | 7,939,527 | ||||
| Grants to individuals | 5,936,426 | 5,751,533 | |||
| ------------------------------------- | |||||
| 14,019,652 | 13,691,060 | ||||
| ===================== |
Grants to institutions are made to support individuals as they progress through educational, coaching or support programmes. Grants to individuals offer support in kind and through direct financial support.
Sports Aid Trust – Year Ended 31 July 2025
Page 29
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
7. SUPPORT COSTS
8.
| SUPPORT COSTS | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Staff costs | 381,964 | 349,498 | |
| Office and IT costs | 148,793 | 95,695 | |
| Travel and subsistence | 73,328 | 60,533 | |
| Irrecoverable VAT | 17,200 | 9,729 | |
| Insurance, legal & professional fees | 12,119 | 9,987 | |
| Other costs | 22,117 | 74,858 | |
| Governance | Note 8 | 54,345 | 30,814 |
| ------------------------------------- | |||
| 709,866 | 631,114 | ||
| ===================== | |||
| GOVERNANCE COSTS | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Audit and accountancy | 53,430 | 26,356 | |
| Insurance, legal & professional fees | 527 | 402 | |
| Trustee meeting expenses | 388 | 656 | |
| Trustee training | - | 3,400 | |
| ------------------------------------- | |||
| 54,345 | 30,814 | ||
| ===================== |
Auditor's remuneration includes audit services £39,775 (2024: £25,006), accountancy services £10,575 (2024: £nil) and tax services £3,080 (2024: £1,350). All figures are stated including VAT.
9. STAFF COSTS
| Staff costs were as follows: | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Wages and salaries | 711,368 | 569,286 |
| Social security costs | 80,748 | 60,460 |
| Pension costs | 25,537 | 38,930 |
| ------------------------------------- | ||
| 817,653 | 668,676 | |
| ===================== | ||
| The average monthly number of employees during the year was as follows: | 2025 | 2024 |
| No. | No. | |
| 16 | 14 | |
| ===================== |
The number of employees who received employee benefits (excluding Employer National Insurance Contributions and employer pension costs) of more than £60,000 were:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| £60,001- £70,000 | - | 1 |
| £90,001‑£100,000 | 1 | 1 |
| ===================== |
The Trustees neither received nor waived any emoluments during the year. Expenses of £nil (2024: £nil) were reimbursed to trustees during the year.
Key management personnel include the Trustees and senior management team comprising the Chief Executive, Head of Finance, Head of Fundraising and Head of Policy and Culture. The total employee benefits of the charity's key management personnel were £304,460 (2024: £301,301). No trustee received any remuneration as part of this figure.
Sports Aid Trust – Year Ended 31 July 2025
Page 30
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
10. INTANGIBLE FIXED ASSETS - GROUP AND CHARITY
| INTANGIBLE FIXED ASSETS - GROUP AND CHARITY | |
|---|---|
| Computer | |
| software | |
| COST | £ |
| At 1 August 2024 | 17,681 |
| Additions | 24,272 |
| ------------------- | |
| At 31 July 2025 | 41,953 |
| ------------------- | |
| AMORTISATION | |
| At 1 August 2024 | 17,681 |
| Charge for the year | - |
| ------------------- | |
| At 31 July 2025 | 17,681 |
| ------------------- | |
| NET BOOK VALUE | |
| At 31 July 2025 | 24,272 |
| =========== | |
| At 31 July 2024 | - |
| =========== |
11. FIXED ASSET INVESTMENTS
| Listed | Investment in |
||
|---|---|---|---|
| securities | subsidiary | Total | |
| £ | £ | £ | |
| At 1 August 2024 | 525,791 | 2 | 525,793 |
| Revaluations | 35,236 | - | 35,236 |
| ------------------- | ------------------------------------- | ||
| At 31 July 2025 | 561,027 | 2 | 561,029 |
| ================================ |
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.
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. For the year ended 31 July 2025, the company generated income of £12,915 (2024: £15,605) and incurred expenditure of £15,498 (2024: £14,666). The loss of the company for the year ended 31 July 2025 was £2,583 (2024: profit of £939) and the aggregate share capital and reserves at that date were £3,160 (2024: £5,743).
12. DEBTORS
| DEBTORS | ||||
|---|---|---|---|---|
| GROUP | CHARITY | |||
| 2025 | 2024 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Trade debtors | 355,238 | 86,652 | 352,016 | 86,650 |
| Amounts owed by group undertakings | - | - | 68,568 | 38,281 |
| Other debtors | 11,536 | 5,000 | 10,798 | 5,000 |
| Prepayments and accrued income | 4,310,754 | 34,489 | 4,310,754 | 34,489 |
| ------------------- | ------------------- | ------------------------------------- | ||
| 4,677,528 | 126,141 | 4,742,136 | 164,420 | |
| =========== | ================================ |
Accrued income includes £4,227,500 from TASS (£2,440,000), Backing the Best (£1,605,000) and Sport England (£182,500) for funding confirmed in July 2025 and received in August 2025 (2024 accrued income: £nil).
Sports Aid Trust – Year Ended 31 July 2025
Page 31
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| GROUP | CHARITY | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Trade creditors | 696,187 | 231,948 | 695,553 | 230,312 |
| Other taxation and social security | 20,985 | 19,861 | 20,985 | 20,219 |
| Other creditors | 1,014,846 | 1,103,418 | 1,014,846 | 1,103,418 |
| Accruals and deferred income | 126,058 | 5,715,589 | 120,377 | 5,713,089 |
| ------------------- | ------------------- | ------------------------------------- | ||
| 1,858,076 | 7,070,816 | 1,851,761 | 7,067,038 | |
| =========== | ================================ | |||
| Deferred income reconciliation: | ||||
| Brought forward | 5,676,781 | |||
| Released in the year | (5,676,781) | |||
| Amounts deferred in year | 60,833 | |||
| ------------------- | ||||
| Carried forward | 60,833 | |||
| =========== |
Deferred income relates to Sport England core funding 2025: £60,833; (2024: Core funding £60,833) and DiSE funding received in advance of the period to which it relates - 2025: £nil (2024: £5,615,947 as full year funding was received in full).
Other creditors include outstanding TASS operational expenditure £86,327 (2024: £349,090) and Backing the Best 2025 grants, £925,963 (2024: £754,328).
Sports Aid Trust – Year Ended 31 July 2025
Page 32
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
14. SUMMARY OF FUNDS – GROUP
| Brought | Carried | |||||
|---|---|---|---|---|---|---|
| forward | Transfers | Gains/ | forward | |||
| 01/08/24 | Income | Expenditure | in/(out) | (losses) | 31/07/25 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 731,793 | 797,908 | (1,147,769) | 111,901 | 24,665 | 518,498 |
| Designated funds | ||||||
| Yorkshire & | 32,808 | - | (24,000) | - | - | 8,808 |
| Humberside | ||||||
| Athletes & workshops | 190,106 | 399,000 | (249,688) | (111,901) | - | 227,517 |
| DiSE working budget | 85,596 | - | - | (85,596) | - | - |
| Endowment fund | 80,694 | - | (1,000) | - | 10,571 | 90,265 |
| Restricted funds (see note | ||||||
| 15) | 4,596,466 | 15,601,494 | (14,656,519) | 85,596 | - | 5,627,037 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | |||
| 5,717,463 | 16,798,402 | (16,078,976) | - | 35,236 | 6,472,125 | |
| ====================== | =========== | ================================ | ||||
| Brought | Carried | |||||
| forward | Transfers | Gains/ | forward | |||
| 01/08/23 | Income | Expenditure | in/(out) | (losses) | 31/07/24 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 710,341 | 791,722 | (807,561) | - | 37,291 | 731,793 |
| Designated funds | ||||||
| Yorkshire & | 34,995 | - | (2,187) | - | - | 32,808 |
| Humberside | ||||||
| Athletes & workshops | 232,312 | 200,000 | (242,206) | - | - | 190,106 |
| DiSE working budget | - | - | 85,596 | - | 85,596 | |
| Endowment fund | 95,377 | - | (32,000) | - | 17,317 | 80,694 |
| Restricted funds (see note | ||||||
| 15) | 3,599,448 | 15,042,493 | (13,959,879) | (85,596) | - | 4,596,466 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | |||
| 4,672,473 | 16,034,215 | (15,043,833) | - | 54,608 | 5,717,463 | |
| ====================== | =========== | ================================ |
Sports Aid Trust – Year Ended 31 July 2025
Page 33
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
14. SUMMARY OF FUNDS – CHARITY
| Brought | Carried | |||||
|---|---|---|---|---|---|---|
| forward | Transfers | Gains/ | forward | |||
| 01/08/24 | Income | Expenditure | in/(out) | (losses) | 31/07/25 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 726,053 | 784,993 | (1,132,271) | 111,901 | 24,665 | 515,341 |
| Designated funds | ||||||
| Yorkshire & | 32,808 | - | (24,000) | - | - | 8,808 |
| Humberside | ||||||
| Athletes & workshops | 190,106 | 399,000 | (249,688) | (111,901) | - | 227,517 |
| DiSE working | 85,596 | - | - | (85,596) | - | - |
| budget | ||||||
| Endowment fund | 80,694 | - | (1,000) | - | 10,571 | 90,265 |
| Restricted funds (see note | ||||||
| 15) | 4,596,466 | 15,601,494 | (14,656,519) | 85,596 | - | 5,627,037 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | |||
| 5,711,723 | 16,785,487 | (16,063,478) | - | 35,236 | 6,468,968 | |
| ====================== | =========== | ================================ | ||||
| Brought | Carried | |||||
| forward | Transfers | Gains/ | forward | |||
| 01/08/23 | Income | Expenditure | in/(out) | (losses) | 31/07/24 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 705,539 | 776,117 | (792,894) | - | 37,291 | 726,053 |
| Designated funds | ||||||
| Yorkshire & | 34,995 | - | (2,187) | - | - | 32,808 |
| Humberside | ||||||
| Athletes & workshops | 232,312 | 200,000 | (242,206) | - | - | 190,106 |
| DiSE working | - | - | - | 85,596 | - | 85,596 |
| budget | ||||||
| Endowment fund | 95,377 | - | (32,000) | - | 17,317 | 80,694 |
| Restricted funds (see note | ||||||
| 15) | 3,599,448 | 15,042,493 | (13,959,879) | (85,596) | - | 4,596,466 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | |||
| 4,667,671 | 16,018,610 | (15,029,166) | - | 54,608 | 5,711,723 | |
| ====================== | =========== | ================================ |
Endowment Fund
The endowment fund held is a permanent endowment fund restricted to the support of rowers. The trustees have determined that awards are required to only be made from this fund as the income allows, in order to maintain the capital to provide future awards.
Designated fund - Yorkshire & Humberside
The designated funds relate to donations, the Trustees have designated to be used for athlete awards in this i
Designated Funds - athlete awards and workshops
The designated funds relate to donations the trustees have determined should be used for athlete awards and workshops. The transfer of £112k from designated to unrestricted general funds reflects the release of athlete centric funds to the unrestricted funded pot to align with new fundraising strategy.
Designated fund - DiSE working budget
Funding from Sport England ringfenced to establish the DISE programme. The fund was fully spent in the year.
Sports Aid Trust – Year Ended 31 July 2025
Page 34
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
15. Restricted Funds 2025
| Brought | Carried | ||||||
|---|---|---|---|---|---|---|---|
| forward | Transfers | Gains/ | forward | ||||
| 01/08/24 | Income | Expenditure | in/out | (losses) | 31/07/25 | ||
| £ | £ | £ | £ | £ | £ | ||
| 1 | TASS | 2,554,559 | 4,641,109 | (4,311,484) | - | - | 2,884,184 |
| 2 | DiSE | 696,941 | 8,423,921 | (8,174,343) | 85,596 | - | 1,032,115 |
| 3 | Backing the Best | 1,115,146 | 2,480,000 | (2,076,777) | - | - | 1,518,369 |
| 4 | Athlete Awards | 229,820 | 56,464 | (93,915) | - | - | 192,369 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | ||||
| 4,596,466 | 15,601,494 | (14,656,519) | 85,596 | - | 5,627,037 | ||
| ====================== | =========== | ================================ | |||||
| - |
Restricted Funds 2024
| Brought | Carried | ||||||
|---|---|---|---|---|---|---|---|
| forward | Transfers | Gains/ | forward | ||||
| 01/08/23 | Income | Expenditure | in/out | (losses) | 31/07/24 | ||
| £ | £ | £ | £ | £ | £ | ||
| 1 | TASS | 2,264,921 | 3,905,605 | (3,615,967) | - | - | 2,554,559 |
| 2 | DiSE | 357,362 | 8,423,921 | (7,998,746) | (85,596) | - | 696,941 |
| 3 | Backing the Best | 703,298 | 2,508,165 | (2,096,317) | - | - | 1,115,146 |
| 4 | Athlete Awards | 273,867 | 204,802 | (248,849) | - | - | 229,820 |
| -------------------------------------- | ------------------- | ------------------- | ------------------------------------- | ||||
| 3,599,448 | 15,042,493 | (13,959,879) | (85,596) | - | 4,596,466 | ||
| ====================== | =========== | ================================ |
Fund Information:
-
1 This fund represents the Talented Athlete Scholarship Scheme (TASS).
-
2 This fund represents the Diploma in Sporting Excellence Scheme (DiSE)
-
3 This fund represent National Lottery funding received via Sport England for the Backing the Best scheme.
-
4 These funds represent funds received to provide athlete awards in specific areas or to support athletes who compete in a particular sport.
Sports Aid Trust – Year Ended 31 July 2025
Page 35
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS - GROUP
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Endowment|Restricted|Unrestricted|Total|
|funds|funds|funds|funds|
|2025|2025|2025|2025|
|£|£|£|£|
|Fixed assets|-|-|24,272|24,272|
|Fixed asset investments|90,265|-|470,762|561,027|
|Current assets|-|7,351,851|393,051|7,744,902|
|-|
|Creditors due within one year|(1,724,814)|(133,262)|(1,858,076)|
|-------------------|------------------- -------------------------------------|
|90,265|5,627,037|754,823|6,472,125|
|=========== ================================|
|Endowment|Restricted|Unrestricted|Total|
|funds|funds|funds|funds|
|2024|2024|2024|2024|
|£|£|£|£|
|Fixed assets|-|-|-|-|
|Fixed asset investments|80,694|-|445,097|525,791|
|Current assets|-|11,315,830|946,658|12,262,488|
|-|
|Creditors due within one year|(6,719,364)|(351,452)|(7,070,816)|
|-------------------|------------------- -------------------------------------|
|80,694|4,596,466|1,040,303|5,717,463|
|=========== ================================|
|ANALYSIS OF NET ASSETS BETWEEN FUNDS - CHARITY|
|Endowment|Restricted|Unrestricted|Total|
|funds|funds|funds|funds|
|2025|2025|2025|2025|
|£|£|£|£|
|Fixed assets|-|-|24,272|24,272|
|Fixed asset investments|90,265|-|470,764|561,029|
|Current assets|-|7,351,851|383,577|7,735,428|
|-|
|Creditors due within one year|(1,724,814)|(126,947)|(1,851,761)|
|-------------------|------------------- -------------------------------------|
|90,265|5,627,037|751,666|6,468,968|
|=========== ================================|
|Endowment|Restricted|Unrestricted|Total|
|funds|funds|funds|funds|
|2024|2024|2024|2024|
|£|£|£|£|
|Fixed assets|-|-|-|-|
|Fixed asset investments|80,694|-|445,099|525,793|
|Current assets|-|11,315,830|937,138|12,252,968|
|-|
|Creditors due within one year|(6,719,364)|(347,674)|(7,067,038)|
|-------------------|------------------- -------------------------------------|
|80,694|4,596,466|1,034,563|5,711,723|
|=========== ================================|
----- End of picture text -----
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS - CHARITY
17. 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 £25,537 (2024: £38,930).
Sports Aid Trust – Year Ended 31 July 2025
Page 36
Company Number: 05538901 Registered Charity No: 1111612
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
18. RELATED PARTY TRANSACTIONS
During the year Hogarth Worldwide Limited, a company with a common director, provided pro-bono gift in kind website and support services to the charity of circa £75k (2024: c£75k).
At the year end the charity was owed £68,568 (2024: £38,281) from its subsidiary company, SAF Promotions Limited. The charity also received income of £1,291 (2024: £1,561) in respect of management services provided.
19. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
(Incorporating the income and expenditure account)
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and Legacies | 451,878 | - | - | 451,878 |
| Other Trading Activities | 15,605 | - | - | 15,605 |
| Investments | 9,698 | 84,190 | - | 93,888 |
| Charitable activities | 514,541 | 14,958,303 | - | 15,472,844 |
| ------------------- | ------------------- | ------------------------------------- | ||
| TOTAL INCOME | 991,722 | 15,042,493 | - | 16,034,215 |
| =========== | ================================ | |||
| EXPENDITURE | ||||
| Raising funds | 316,495 | - | - | 316,495 |
| Charitable activities | - | |||
| Supporting athletes and sporting excellence | 735,459 | 13,959,879 | 32,000 | 14,727,338 |
| ------------------- | ------------------- | ------------------------------------- | ||
| TOTAL EXPENDITURE | 1,051,954 | 13,959,879 | 32,000 | 15,043,833 |
| =========== | ================================ | |||
| Net operating income | (60,232) | 1,082,614 | (32,000) | 990,382 |
| Net gains on investments | 37,291 | - | 17,317 | 54,608 |
| ------------------- | ------------------- | ------------------------------------- | ||
| Net (expenditure)/ income | (22,941) | 1,082,614 | (14,683) | 1,044,990 |
| Transfers between funds | 85,596 | (85,596) | - | - |
| NET MOVEMENT IN FUNDS FOR THE YEAR | 62,655 | 997,018 | (14,683) | 1,044,990 |
| Total funds brought forward | 977,648 | 3,599,448 | 95,377 | 4,672,473 |
| ------------------- | ------------------- | ------------------------------------- | ||
| TOTAL FUNDS | 1,040,303 | 4,596,466 | 80,694 | 5,717,463 |
| =========== | ================================ |
Sports Aid Trust – Year Ended 31 July 2025
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