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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 05526637 (England and Wales) REGISTERED CHARITY NUMBER: 1114673

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2021

for

ASSOCIATION FOR PHYSICAL EDUCATION

Haines Watts Worcester Audit Limited First Floor Saggar House Princes Drive Worcester WR1 2PG

ASSOCIATION FOR PHYSICAL EDUCATION

Contents of the Financial Statements for the year ended 31 March 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2
to		 11
Report of the Independent Auditors 12 to 15
Statement of Financial Activities 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Cash Flow Statement 19
Notes to the Financial Statements 20 to 28
Detailed Statement of Financial Activities 29 to 30

ASSOCIATION FOR PHYSICAL EDUCATION

Reference and Administrative Details for the year ended 31 March 2021

TRUSTEES K Adamson J Harris R Neal M Stevenson A Tansley K Bali J Mulcahy S Munday S Speak COMPANY SECRETARY S Wilkinson REGISTERED OFFICE Room 117, Bredon University Of Worcester Henwick Grove Worcester Worcestershire WR2 6AJ

REGISTERED COMPANY NUMBER 05526637 (England and Wales)

REGISTERED CHARITY NUMBER 1114673

AUDITORS Haines Watts Worcester Audit Limited First Floor Saggar House Princes Drive Worcester WR1 2PG

Page 1

Report of the Trustees for the year ended 31 March 2021

ASSOCIATION FOR PHYSICAL EDUCATION

The Trustees present their annual report together with the financial statements and Auditors' report of the Charity for the year ended 31 March 2021, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Trustees of the Charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who served during the year and since the year end were as follows:

K Adamson
K Bali – appointed 28thSeptember 2020
M Crichton – resigned 31stMarch 2021
J I’Anson – resigned 15thJuly 2020
J Harris
J Mulcahy – appointed 28thSeptember 2020
S Munday – appointed 16thApril 2020
R Neal
S Speak – appointed 28thSeptember 2020
M Stevenson
G Swindlehurst – resigned 15thJuly 2020
A Tansley

CHAIR'S REPORT

It is with pleasure that I write the foreword for this year's Annual Report. For the past 4 years I have been able to report year on year growth of the Association for Physical Education (afPE) and this has continued for 2020-2021. This does not happen by accident. It is down to the hard work and insight of the CEO and staff in particular, the support of the Board of Trustees and of course the engagement and positive contributions of members, associates and partners. All have a role to play in the continuous success and stability of afPE.

As is the norm, education and Government policy, strategies and priorities change so afPE must keep current and 'move with the times'. I am delighted to say we have responded over the last 12 months with positivity and purpose and ensured that we have played a central part in shaping current and future developments. Along with national partners, afPE has been at the forefront of continuing to support and develop; in particular, the Department for Education's Primary PE & Sport Premium advice and guidance to schools and the Sport England Secondary Teacher Training Approach Programme. afPE has also been highly visible and influential in its support for schools and the sector with regards to the first year of the implementation of the Ofsted Education Inspection Framework. afPE has continued to contribute to the All Party Parliamentary Group's (APPG) work on 'A Fit and Healthy Childhood'. The CEO, staff and consultant team have worked relentlessly over the year and have travelled far and wide, spreading the afPE message and corporate objectives and have presented at a large number of key national conferences and events including the Academies Show (one of the largest education conferences in the UK) where the CEO delivered one of the key note presentations. afPE has continued to support Government departments, in particular the Department for Education (DfE) with a plethora of expert guidance and insight. The Association has also been involved with a large number of national partners in the development of strategies to support the implementation of the School Sport and Physical Activity Action Plan.

afPE remains the UK's single PE Subject Association and takes its place as part of the Council for Subject Associations (CfSA). afPE has continued to be highly influential, credible and respected within and beyond the education sector. The Board of Trustees has reviewed its operation and has regularly evaluated the success indicators of its four year Strategic Plan (2017 2021). The Board have agreed that the Association has successfully met the outcomes through the corporate objectives that it set in 2020. Over the past 12 months; importantly, the Risk Register has been re-formatted and overall the confidence level remains high with very few major areas of high risk and concern.

Page 2

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

2020-2021 has seen continuous growth and development due to the sound and rigorous financial management conducted by the Board of Trustees and well led and monitored by the Finance Officer, the Treasurer and the Finance Committee. The Association is in a 'healthy' position. The Trustees in conjunction with the staff have focused on ensuring a sustainable level of financial activity including controlling the cost base whilst steadily growing the balance sheet. We have seen a further increase in business activity, the number of Business Associates and most significantly in afPE membership where we have 'hit' our best membership number on record. Yet again, this demonstrates the appeal that the Association has had and the realisation for many, that we are a well-run, effective and efficient organisation that truly works to support the PE, school sport and physical activity sector in 'Putting PE at the Heart of School Life'.

As I have stated in previous Annual Reports, the continuous innovative and informative work of afPE has had an immediate impact on membership growth as has the Association's highly influential and growing social media presence across all platforms. This year has been no exception and we continue to be proud of being 'first to press the button' on many national PE, sport, physical activity and education sector updates, which in turn has driven substantial media traffic to afPE. The Trustees can confidently report that afPE has remained 'ahead of the game' when it comes to communicating important information, news and developments to the PE, Sport and Physical Activity community.

afPE has continued to grow and build additional capacity through establishing new partnerships and increasing its consultant base, whilst retaining its values and commitment to delivering a high level of service to its members and the wider sector. This, alongside the important need and rise in business activity, the substantial work to ensure compliance against the UK Sport Governance Code and the expectation of members and national partners, has remained a positive challenge for afPE. The Board of Trustees believes that afPE has risen to the challenge and we are confident that the Association has remained the 'UK representative organisation of choice for people and agencies delivering or supporting the delivery of physical education in schools and in the wider community'. Building on our successes, we continue to assess the challenges and achievements evenly, while the priority remains on the day to day activity that demands a full and clear focus. We remain upbeat and positive and believe that the role of afPE continues to become increasingly important in the ever challenging times ahead for the sector.

As always and in conclusion, the Trustees would like to congratulate and thank the staff for their continued passion, hard work and commitment to afPE during this last year. They have continued to work to ensure the Association meets the outcomes of the 2017 - 2021 afPE Strategic Plan. I would also personally like to thank my fellow Trustees for their support and rigour in keeping the Association on track and monitoring its growth. Finally, the Trustees would like to acknowledge the continued loyalty and support of its members, not only over the past 12 months but over the past years. This does not go unnoticed and as a result we have been able to maintain a solid foundation. Thank you.

Page 3

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

OBJECTIVES AND ACTIVITIES Objectives and aims

The Charity's core objects, as set out in its Memorandum of Association, are:

The advancement of high quality physical education for the benefit of the public, particularly but not exclusively by providing consultation and qualified advice to the teaching profession, schools and other statutory or government agencies.

The Charity's aim is as follows:

The strategies employed to achieve the Charity's aims are to:

  1. Demonstrate the distinctive role of physical education in children's and young people's development and achievements.

  2. Establish and sustain physical education at the heart of school life and whole school development, through support for high quality learning and teaching; research; ethical leadership; and politically informed advocacy and representation.

  3. Raise awareness of physical education's contributions to public health and well-being.

  4. Play a leading role in the development of a workforce with the skills and qualities required to assure high quality physical education and sport in schools and in the wider community.

  5. Provide high quality, professional, sustainable services for its members and partners.

The criteria the Charity used to assess success in the reporting period were:

The significant activities undertaken during the period were:

These activities contribute to the achievement of the Charity's aims and objectives by:

Page 4

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

Public benefit statement

The Trustees have reviewed the activities of the Charity in the light of the guidance published by the Charity Commission on public benefit. The Trustees are satisfied that the Charity's activities are for the public benefit, relating as they do to the development, establishment and sustained high quality PE, sport and physical activity across the education, sport and physical activity sector. This benefits the community by demonstrating, raising awareness, supporting, guiding and advising on the importance of the uptake and participation in physical education, sport and physical activity and its contribution to public health and well-being.

Our volunteers

Through its membership, afPE encourages and recruits volunteers to support various aspects of its work including advocacy, representation and in some cases, the delivery of the afPE aims and objectives at local, regional and national level i.e.

The Trustees would like to take this opportunity to thank all members, Business Associates and key partners for giving their time on a voluntary basis to support the work of the Association.

Page 5

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

STRATEGIC REPORT Achievement and performance Charitable activities

The following achievements allowed afPE to deliver against all 5 corporate objectives, working towards the achievement of the 2021 outcomes:

Page 6

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

Financial review

Financial position

During the year ended 31 March 2021, the Charity received total income of £697,345, an increase of £8,104 compared to 2019/20. Expenditure for the year totalled £543,642, a decrease of £181,358 compared to 2019/20. The surplus of income against expenditure was £153,703 for the year.

At the year end the Charity had total reserves of £718,813 with restricted reserves of £40,586, an increase of £25,158 compared to 2019/20.

The Finance Committee reviews the level of reserves held annually. This review includes assessment of the nature of income streams and committed expenditure, future liabilities, disaster recovery costs and/or dissolution costs.

The Trustees continue to explore strategies for investing the current surplus reserves to support our charitable purposes and related charitable projects.

The Charity had no reserves in deficit at 31 March 2021.

Investment policy and objectives

The Charity operates a low risk approach to the investment of funds. Total income from all investments for the year ended 31 March 2021 was £3,163. There were no expenses incurred in earning this income.

Reserves policy

The total reserves of the charity increased by £153,703 to £718,813 from £565,110. Restricted funds increased from £15,428 to £40,586. Unrestricted funds increased from £549,682 to £678,227 in the year.

afPE's reserve policy is to hold a minimum level of free reserves equivalent to £300,000, in order to ensure that any delay in the receipt of income by the Trust, caused by the actions of third parties, does not affect the ability of the Trust to meet its obligations to its beneficiaries.

The amount held in free reserves at 31 March 2021 was £675,128 which would cover 14 months of expenditure. The Trustees regularly review the appropriateness of the reserves policy with regard to the current environment in which the Trust operates and believe the level of free reserves to be appropriate.

Going concern

The Trustees have reviewed the circumstances of the Charity and consider that adequate resources continue to be available to fund the activities of the Charity for the foreseeable future. In particular, this year the Trustees’ have responded to the COVID-19 situation by taking the following actions:

The Trustees are of the view that the Charity is a going concern.

Page 7

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

STRATEGIC REPORT

Financial and risk management objectives and policies

The principal risks faced by the Charity are:

The Trustees have a risk management strategy which comprises a regular review of the Risk Register and discussion at Board of effective mitigation of these risks.

Future plans

The Charity has identified the following areas as the key aspects of future plans to be pursued during the next financial year (which will include a review and modification of the corporate objectives):

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Association for Physical Education is a company limited by guarantee, governed by its Articles of Association dated 3 July 2019. It is registered as a charity with the Charity Commission.

Details of the Trustees who served throughout the year are included in these accounts.

Members' liability

Each member of the Charitable Company undertakes to contribute to the assets of the Company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 (amended from £10 on 5 July 2017) for the debts and liabilities contracted before they cease to be a member.

Page 8

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

In July 2018 the membership approved amendment of the Articles of Association relating to appointments to the Board. All potential trustees, including the Chair of the Association, may be nominated by members and also sought through external agencies to provide a blend of member and independent (non-member) representatives. A rigorous process, based on specific expertise to establish and maintain an effective Management Board, then identifies those selected for a tenure of three years. All Trustees may be re selected for one further period of three years. The Chair, Vice Chair and Treasurer are nominated and appointed to each specific position. The Memorandum and Articles provides a minimum of 7 Trustees, to a maximum of 12 Trustees, with a rotation of tenure completion providing a balance between continuity and new representation. The Trustees have the power to co-opt up to 3 further trustees, to the maximum of twelve in total, to fill specialist roles where the Board identifies specific needs.

All members are circulated with invitations to nominate Trustees, advising them of any retiring Trustees and requesting nominations for the vacant positions. When considering co-opting Trustees, the Board has regard to the requirement for any specialist skills needed, for example, business development, marketing, human resources and recruitment skills.

When appointing new Trustees, the Board gives consideration to the balance of skills and experience needed to ensure that the Board has the necessary skills to contribute fully to the Charity's development.

The training and induction provided for new Trustees will depend upon their existing experience but would always include the provision and explanation of explanatory documents such as "The Essential Trustee" and similar guidance, key policies and regular professional learning opportunities at the beginning of Board meetings. As there are normally only two or three new Trustees a year, induction tends to be done informally and is tailored specifically to the individual. Advantage is taken of specific courses offered by the other bodies where available and relevant.

Organisational structure

The Board of Trustees normally meets four times per year, establishing an overall framework for the governance of the Charity and determining membership, terms of reference and procedures of Committees and other groups. It receives reports from the Finance Committee and other groups where relevant, with recommendations for adoption, as appropriate. It monitors the activities of the Committees through the minutes of their meetings and reports to each Board meeting. The Board may from time to time establish Working Groups to perform specific tasks over a limited timescale.

The Finance Committee meets at least 3 times a year and is responsible for monitoring, evaluating and reviewing policy and performance in relation to financial management, compliance with reporting and regulatory requirements and reporting. It also incorporates the role of an audit committee.

The Board of Trustees considers any proposals for changes to the status or constitution of the Charity and its committee structure, approval of the four year strategic plan, budget and other strategic decisions as appropriate and relevant to the objects of the Association.

The Trustees are responsible for setting general policy, adopting a four year strategic plan and budget, approving the statutory accounts, monitoring the Charity by the use of budgets and other data, and making major decisions about the direction of the Charity, capital expenditure and staff appointments.

Key management personnel

The Board of Trustees have devolved responsibility for day to day management of the Charity to the key management personnel. The key management personnel comprise the Chief Executive Officer, the Membership and Communications Manager and the Finance Officer. The key management personnel implement the policies laid down by the Trustees and report back to them on performance. Further details regarding key management personnel are disclosed in these accounts.

Page 9

ASSOCIATION FOR PHYSICAL EDUCATION

Report of the Trustees for the year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Related parties

None of our Trustees receive remuneration or other benefit from their work as Trustees for the Charity. Trustees may receive appropriate recompense for work for the Association other than that of a Trustee, providing the Chief Executive informs the Board that such consultative positions are held on merit and are open to other members of the Association. Further details regarding these transactions are disclosed in note 20 of these accounts.

The Charity has a wholly owned subsidiary, afPE Limited. The subsidiary is dormant, and details are disclosed in note 13.

FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS

The Charity and its Trustees do not act as the Custodian Trustees of any other Charity.

ADDITIONAL COMPANIES ACT REQUIREMENTS:

A Register of Persons with Significant Control is maintained annually. At this time, no Trustee has the power to apply such influence.

A register of Interests is also maintained with potential conflicts declared as they arise.

Review and confirmation of accuracy of the Register of Interests is recorded at each meeting of the Board of Trustees.

All Trustees complete HMRC Fit and Proper Person and Charity Commission Trustee Eligibility declarations confirming their suitability to act as Trustees.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Association for Physical Education for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Page 10

A&SOCIATION FOR PHYSICAL EDUCATION Rep￿ of the TnLStees for the year ellded 31 l¥larch 2021 AifDrroiLS The audIt￿s. Haines Watts w￿CeStrr Audit L4mityL ￿11 i% prwol for re-apPMt￿e1tt at the forthcriniti8 Annu Ga]eral Meeltn& Rep(rt of th¢ ?I ttrate8i¢ r4W by of the bmrd of truaee4 as the c(1n￿Y d wed on the b(wds Ixhalfby: S Munday-Tn Pagell

Report of the Independent Auditors to the Members of Association For Physical Education

Opinion

We have audited the financial statements of Association For Physical Education (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charitable company's trade, customers, suppliers and wider economy. The Trustees' view on the impact of COVID-19 is disclosed on accounting policies note.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 12

Report of the Independent Auditors to the Members of

Association For Physical Education

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Page 13

Report of the Independent Auditors to the Members of Association For Physical Education

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We obtained an understanding of the legal and regulatory framework applicable to both the charitable company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the trustees and other management. The most significant were identified as the Companies Act 2006, the Charities Act 2011 and the Charities SORP (FRS102).

We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included:

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 14

Report of the Independent Auditors to the Members of Association For Physical Education

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Hughes ACA (Senior Statutory Auditor) for and on behalf of Haines Watts Worcester Audit Limited First Floor Saggar House Princes Drive Worcester WR1 2PG

15/12/2021 Date: .............................................

Page 15

ASSOCIATION FOR PHYSICAL EDUCATION

Statement of Financial Activities for the year ended 31 March 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS
Donations and legacies
2
-
Charitable activities
4
533,146
Investment income
3
3,160
Total
536,306
EXPENDITURE ON
Charitable activities
5
407,761
Total
407,761
NET INCOME/(EXPENDITURE)
128,545		 Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS
Donations and legacies
2
-
Charitable activities
4
533,146
Investment income
3
3,160
Total
536,306
EXPENDITURE ON
Charitable activities
5
407,761
Total
407,761
NET INCOME/(EXPENDITURE)
128,545		 Restricted
funds
£
145,751
15,285
3
161,039
135,881
135,881
25,158		 2021
Total
funds
£
145,751
548,431
3,163
697,345
543,642
543,642
153,703		 2020
Total
funds
£
175,000
509,143
5,098
689,241
725,000
725,000
(35,759)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 549,682
678,227		 15,428
40,586		 565,110
718,813		 600,869
565,110

The notes form part of these financial statements

Page 16

ASSOCIATION FOR PHYSICAL EDUCATION

Balance Sheet 31 March 2021

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
12
3,098
Investments
13
1
3,099
CURRENT ASSETS
Stocks
14
-
Debtors
15
68,994
Cash at bank and in hand
760,151
829,145
CREDITORS
Amounts falling due within one year
16
(154,017)
NET CURRENT ASSETS
675,128
TOTAL ASSETS LESS CURRENT
LIABILITIES
678,227
NET ASSETS
678,227
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
90,768
90,768
(50,182)
40,586
40,586
40,586		 2021
Total
funds
£
3,098
1
3,099
-
68,994
850,919
919,913
(204,199)
715,714
718,813
718,813
678,227
40,586
718,813		 2020
Total
funds
£
7,845
1
7,846
1,315
47,820
802,005
851,140
(293,876)
557,264
565,110
565,110
549,682
15,428
565,110

The financial statements were approved by the Board of Trustees and authorised for issue on 13 December 2021 and were signed on its behalf by:

The notes form part of these financial statements

Page 17

ASSOCIATION FOR PHYSICAL EDUCATION

Cash Flow Statement for the year ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2021
£
45,751
45,751
3,163
3,163
48,914
802,005
850,919		 2020
£
178,109
178,109
5,098
5,098
183,207
618,798
802,005

The notes form part of these financial statements

Page 18

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Cash Flow Statement for the year ended 31 March 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
2021 2020
£ £
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities) 153,703 (35,759)
Adjustments for:
Depreciation charges 4,747 5,768
Interest received (3,163) (5,098)
Decrease/(increase) in stocks 1,315 72
Decrease/(increase) in debtors (21,174) 71,709
(Decrease)/increase in creditors (89,677) 141,417
Net cash provided by operations 45,751 178,109
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 802,005 48,914 850,919
802,005 48,914 850,919
Total 802,005 48,914 850,919

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 19

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements for the year ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The trustees continue to adopt the going concern assumption as the basis of preparation of the charity's financial statements. In doing so, the trustees confirm they believe that no material uncertainties exist in the foreseeable future regarding the charity's ability to continue as a going concern. In forming this conclusion, the trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements.

In response to the ongoing impact of the COVID-19 pandemic, the trustees have further considered their projections to take into account possible scenarios, alongside the measures that they can take to mitigate the impact. Based on these assessments, together with the current resources available, the trustees have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable the income will be received.

Grant income 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 be measured reliably.

Subscription income is recognised on receipt basis and deferred until criteria for income recognition is met.

Royalties and advertising income is recognised on invoice basis, in the period it relates.

Training course income is recognised on invoice basis when the event takes place.

Investment income is interest earned on bank accounts. This is recognised when receivable and the amount can be measured reliably, which is normally on notification by the bank of the interest paid.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Fixed assets are included at cost or valuation, items below £1,000 will be normally expensed through the statement of financial activities.

continued...

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ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Computer equipment - 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in a separate heading in the Statement of financial activities.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund, or employees' personal pension schemes, as appropriate.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. These are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

continued...

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ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

2.
DONATIONS AND LEGACIES
Unrestricted
funds
£
Grants
-
-
Grants received, included in the above, are as follows:
Sport England – Primary PE
Sport England – Secondary TT
3.
INVESTMENT INCOME
Unrestricted
funds
£
Interest receivable
3,160		 Restricted
funds
£
145,751
145,751
Restricted
funds
£
3		 2021
Total
funds
£
145,751
145,751
2021
£
36,051
109,700
145,751
2021
Total
funds
£
3,163		 2020
Total
funds
£
175,000
175,000
2020
£
50,000
125,000
175,000
2020
Total
funds
£
5,099

continued...

Page 22

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

4. INCOME FROM CHARITABLE ACTIVITIES

Professional Leadership

Membership Services

International contract income
Organisational development and capacity building
Advocacy and influence
Other Income



 2021
£
75,871
362,900
-
17,109
90,151
2,400



548,431		 2020
£
132,616
280,496
6,000
22,741
67,104
186
509,143

5. CHARITABLE ACTIVITIES COSTS

Professional Leadership
Membership Services
Governance costs
Other income		 Direct
Costs
£
165,525
110,419
-
400
276,344		 Support
costs (see
note 6)
£
111,061
133,821
22,416
-
267,298		 Totals
£
276,586
244,240
22,416
400
543,642

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ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

6. SUPPORT COSTS

Governance
Finance
Other
costs
£
£
£
Professional Leadership
-
111,061
-
Membership Services
4,748
129,073
-
Governance costs
-
-
22,416
4,748
240,134
22,416
Support costs, included in the above, are as follows:
Governance costs
2021
Total
activities
£
Auditors' remuneration
5,250
Board meeting costs
2,957
Other governance costs
14,209
22,416
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021
£
Depreciation - owned assets
4,747
8.
AUDITORS' REMUNERATION
2021
£
Fees payable to the charity's auditors and their associates for the audit of the
charity's financial statements
5,250		 Totals
£
111,061
133,821
22,416
267,298
2020
Total
activities
£
4,750
6,820
16,634
28,204
2020
£
5,769
2020
£
4,750

continued...

Page 24

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustee’s remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. However, 1 trustee carried out consultancy work for the Association (2020 2). Payments, excluding reimbursement for relevant travel costs (which are detailed below), incurred during the year were £3,450 (2020 £9,745).

Trustees' expenses

During the year, Trustees received reimbursed expenses amounting to £1,797 (2020 £7,780)

10. STAFF COSTS

Staff costs were as follows:

Staff costs were as follows:
Wages and salaries
Social security costs
Other pension costs		 2021
£
175,333
14,066
15,397
204,796		 2020
£
159,920
13,092
14,370
187,382

The average number of persons employed by the company during the year was as follows:

2021 2020
No. No.
5 5
The number of higher paid employees was:
2021 2020
No. No.
In the band £70,001 - £80,000 0 1
In the band £80,001 - £90,000 1 0

The key management personnel of the Charity comprises the Chief Executive Officer, the Marketing and Communications Manager and the Finance Officer, whose employee benefits totalled £139,903 (2020 £147,963), including employers National Insurance and pension contributions.

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continued...

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

12. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment
Totals
£ £ £
COST
At 1 April 2020 and 31 March 2021 2,613 24,117 26,730
DEPRECIATION
At 1 April 2020 2,613 16,272 18,885
Charge for year - 4,747 4,747
At 31 March 2021 2,613 21,019 23,632
NET BOOK VALUE
At 31 March 2021 - 3,098 3,098
At 31 March 2020 - 7,845 7,845
13. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 April 2020 and 31 March 2021 1
NET BOOK VALUE
At 31 March 2021 1
At 31 March 2020 1
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
afPE Limited
Registered office: Room 117, Bredon, University of Worcester, Henwick Grove, Worcester, WR2 6AJ
Nature of business: Dormant Company
%
Class of share: holding
Ordinary 100
2021 2020
£ £
Aggregate capital and reserves 1 1

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continued...

ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

14. STOCKS

Finished goods
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income		 2021
£
-
2021
£
13,430
55,564
68,994
2021
£
37,176
4,942
17,530
2,377
142,173
204,199		 2020
£
1,315
2020
£
18,390
29,430
47,820
2020
£
60,890
4,694
15,623
1,429
211,240
293,876

DEFERRED INCOME

DEFERRED INCOME
Released to
As at 1 incoming Deferred in As at 31
April 2020 resources the year March 2021
£ £ £ £
Membership 36,695 (36,695) 42,266 42,266
Advertising 12,433 (12,433) 12,433 12,433
Annual conference 1,457 - - 1,457
Royalties 3,750 (3,750) 3,750 3,750
Grant income 147,803 (132,504) 34,783 50,082
Training courses 2,473 (952) - 1,521
Total 204,611 (186,334) 93,232 111,509

At the balance sheet date the charity was holding funds received in advance for services due to be delivered after the year end and for which entitlement to the income is not received until the service is delivered.

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2021
£
3,640
6,370
10,010		 2020
£
3,640
10,010
13,650

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ASSOCIATION FOR PHYSICAL EDUCATION

Notes to the Financial Statements - continued for the year ended 31 March 2021

18. FUNDS

Unrestricted funds
General fund
Restricted funds
Gerald Murray
Regions and Home Counties
Sport England - Primary PE
Sport England - Secondary TT
TOTAL FUNDS		 Balance
b/f
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance
c/f
£
549,682
536,306
(407,761)
- 678,227
549,682
536,306
(407,761)
-
678,227
866
-
-
-
866
13,101
15,289
(7,820)
-
20,570
-
36,051
(16,901)
-
19,150
1,461
109,699
(111,160)
-
-
15,428
161,039
(135,881)
-
40,586
565,110
697,345
(543,642)
-
718,813

Gerald Murray - This fund resulted from an historical bequest and its purpose is to reward the profession when colleagues have made a significant contribution.

Regions and Home Counties - Funds raised by regional committees and the income is ring-fenced for their future use.

Sport England - Primary PE - Income from a third party with specific project objectives and therefore restricted funds.

Sport England - Secondary TT - Income from a third party with specific project objectives and therefore restricted funds.

19. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund, or employees' personal pension schemes, as appropriate, and amounted to £15,397 (2020 £14,370).

20. RELATED PARTY DISCLOSURES

During the year a summary of the related party transactions are:

2021 2020
£ £
Sales transactions with trustees 916 -
Amounts owed to trustees included within trade creditors 1,188 1,520
Purchase transactions with trustees 3,450 9,745
Expenses reimbursed to trustees 1,797 7,780

21. INDIRECT DONATIONS

The University of Worcester supplied office accommodation and services to the approximate value of £15,000 during the year for which the Association is very grateful. The donation is not reflected in the income and expenditure shown.

Page 28

ASSOCIATION FOR PHYSICAL EDUCATION

Detailed Statement of Financial Activities for the year ended 31 March 2021

Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Grants
-
145,751
-
145,751
Investment income
Interest receivable - trading
3,160
3
Charitable activities
Subscriptions
362,900
-
Royalties
90,151
-
Advertising
17,109
-
International contract income
-
-
Training courses
60,586
15,285
Other contract income
2,400
-
Exceptional items
-
-
533,146
15,285
Total incoming resources
536,306
161,039
EXPENDITURE
Charitable activities
Insurance
27,675
-
Advertising
81,083
-
International contract costs
-
-
Course costs
49,770
81,998
Travelling
-
-
Professional fees
29,071
679
Sundries
6,068
-
193,667
82,677
Support costs
Finance
Computer equipment
3,880
868
Other
Wages
135,890
39,443
Carried forward
135,890
39,443		 2021
Total
funds
£
145,751
145,751
3,163
362,900
90,151
17,109
-
75,871
2,400
-
548,431
697,345
27,675
81,083
-
131,768
-
29,750
6,068
276,344
4,748
175,333
175,333		 2020
Total
funds
£
175,000
175,000
5,098
280,496
67,104
22,741
6,000
132,616
-
186
509,143
689,241
28,174
81,224
1,627
259,879
9,220
69,510
5,889
455,523
5,768
159,920
159,920

This page does not form part of the statutory financial statements

Page 29

ASSOCIATION FOR PHYSICAL EDUCATION

Detailed Statement of Financial Activities for the year ended 31 March 2021

Unrestricted
Restricted
funds
funds
£
£
Other
Brought forward
135,890
39,443
Social security
11,846
2,220
Pensions
12,810
2,587
Irrecoverable vat
3,606
806
Premises costs
1,721
385
Office running costs
20,937
5,487
Financial charges
1,958
438
188,768
51,366
Governance costs
Auditors' remuneration
4,291
959
Board meeting costs
2,957
-
Other governance costs
14,198
11
21,446
970
Total resources expended
407,761
135,881
Net income
128,545
25,158		 2021
Total
funds
£
175,333
14,066
15,397
4,412
2,106
26,424
2,396
240,134
5,250
2,957
14,209
22,416
543,642
153,703		 2020
Total
funds
£
159,920
13,092
14,370
13,260
2,504
30,380
1,979
235,505
4,750
6,820
16,634
28,204
725,000
(35,759)

This page does not form part of the statutory financial statements

Page 30