REGISTERED COMPANY NUMBER: 05526637 (England and Wales) REGISTERED CHARITY NUMBER: 1114673 Roport of tho Trustoos and Financial Statements for the Year Ended 31 st March 2024 for Association for Physical Education Richards Sandy Audit Services Limited (statutory Auditor) Thomeloe House 25 Barbourne Road Worcester WR1 1RU
Assoclatlon for Physical EdutIOn Contents of the Flnanclal Statements for the Year Ended 31st March 2024 Pago Reference and Administratlvo Detalls Roport of the Trustees Roport of the Independent Auditors 7 to 10 statement of Flnancial Activili88 11 Balance Sheet 12 Cash Flow Statsmont 13 Notes to the Cash Flow Statemont 14 Notes to tho Financial Statsmonts 15 to 25 Detailèd Statement of Flnanclal Aclfvities 26 to 27
Assoclation for Physi1 Education Rofarnnco and Admlnlslratlvè Detsils for the Year Ended 31st March 2024 TRUSTEES Ms Rebecca Antcliffe lfjran Bali (resigned 1.4.24) Dr Rachael Bullingham Prof Jo Harris Prof Jeanne Keay Mr Charlie L'Ansc Dr Christine Lloyd (appointed 29.2.24) Julie Mulcahy {resigned 1.4.23) Mr Ri(*ard Neal (resigned 1.9.24} Suzarme Speak (resigned 31.7.23) Mithael Stevenson {appoinl8d 29.2.24) Kate Stephenson {appointed 12.12.24} Rich£rd Grain8r lappoint8d 12.12.24) Mike Jess {appointsd 23.2.24) COMPANY SECRETARY Kate Thomton-Bousfield (from 1 October 2024) Susan Wilkinson {to 30 Septsmber 2024) REGISTERED OFFICE 1 Elgar Business Centre M(yseley Road Hallow Worcestershire WR2 6NJ REGISTERED COMPANY NUMBER 05526637 (England and Wales} REGISTERED cHARy NUMBER 1114673 AUDITORS Richards Sandy Audit Services Limited (Statutory Auditor) Thomeloe House 25 BaTboum8 Road Worcester WR11RU CHIEF EXECUTIVE OFFICER Kate Thornton-Bousfigld (from 1 Octob6r 2024) Sue Wilkinson (to 30 September 2024) MEMBERSHIP MANAGER Simon Leach (to 10 November 2023) FINANCE MANAGER Kim Banks Lyndsey Davies (from 23 Octobér 2023) (to 23 October 2023} Page 1
A5$0¢iation for Physical Educatlon Rèport of tho Trust•88 for the Year Endod 31st March 2024 The trusts8s who 8r8 also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial slalements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Prdcttce applicable to chartties preparing their accounts in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objects The charity's objects as set out in its goveming dUment are the 8dVanment of high qualty physical education for the benefft of the public. particularly but not exdusively by providing consultation and qualified advice to the teaching profession. sthools and other statutory or govemment agencies. Slgnificant activities The Association for Physical Education (8fPE) is a charitsble company. a membership organisation and the subject association for physicd education in the United lfjngdom. We are the voice of PE and our vision 15 to support the worf(force to put physical education at the heart of school life. We provide quality assured services and resounys and valuable professional support for our members and the physical education. school sport and physi(l activity sector. We offer: A wide range of high quality membership seniices. AcGredited professional leaming opportunilies and vocational qualificalions. Journals (Physical Education Matters & Physical Education and Sport Pedagogy). Advice. support & employment opporiuntties. Monthly e•newsletter. Emaillvideolwebinar updates. Representation at key stskeholder meetings and naticfflal working p8rbes. Insurance cover and dedicated helplines. including support for health & safety and leg81 advi. We are not about quick fit solutions, we want a sustainabl818gacy. so that in another 15 years we do not havo inadive young people and a growing obesity profjl?. Proactive solutions WOTked acrc>ss the sertor by key stakèholders in twe partnership, will ensure children and young people havè the knOedge, skills but more importantly the physical health and emotional wellbeing to achieve the very best that they can. Help us to make it h8ppenl afPE's Mlsslon Statsment The Association for Physical Education (alPE) is commltt8d to being the UK representative organisation of choice for People and agencies delivering or supporting physical education in schools and thé wider communlty. alPE's Corporats Objoctlvos Demonstrate the di5tincliv8 rol8 of physical education in children and young people's leaming. development and achievement. Establish and sustaln physical education at the heart of schcol life and whole-school development, through support for high quality leaming and teaching. research. ethical leadership and politically inforrned advocacy and representation. Raise awareness of physi&ql eduction's eA)ntribution to public health and well-being and in(Trased parlicipation. Play a18ading role in the development of 8 workrorce wilh Ihe skills and qualities required to 8ssur8 high quality physical education and sport in schools and in the wider community. Provide high quality. professional. sustainable senlices for members and partners. Public bonofit The trustees confinn that they have complied with the duty in Section 4 of Chariiies Act 2011 to have due regard to the guidan issued by the Charity Commission conceming public benefit The trustses are satisfied that the thariV8 activities are for the public b8nofit. b8ing the development. establishment and sustained high quality PE, sport and physical activity across the education. sport and physical activity sedor. 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 aclivity and its contiibution to public health and well-being. ACHIEVEMENT AND PERFORMANCE Charitsbla activiti08 During 202312024 alPE has continued to focus on supporting its membgrs in 8 range of woy3 including the provision of professlon81 devèlopment opwrtuniti8S', representing members and the subjeot as a whole in political debates and revl8ws: and supporting m9rnbers. Page 2
Association for Physlcal Educatlon Report of the Trustee8 for tho Year Endod 31st March 2024 The provision of profe88ional development opportunities induded running a national 8V8nt for the first time since 2019, which was trialled as a Development Day in December 2023. This model was very succe8sfvI and will be replicatèd so thal alPE can retain a national profile as a professional development provider that en8bles not only PE professionals. It also wider sector partners, to understand and engage the 'PE for1rf8' ideology and commitment. afPE continued to work alongside accrediting partner, the Lgad8rship Skills Foundation (LSF), to develop a¢Jdilional opportunities, which hav8 b88n designed, piloted and implemented. Somo are still at the creation stage vthile others were launthod 8arfler in the year. Current qualificalions are under periodic review and as 8fPE moves forward the data will infomi any need for Ghange thal rnay need to align to any fvlure gov8mm6nt policy. The Quality Mark process involves a significant rgvi8w of practice 8nd provides som8 8vid8nce of afPE's effective support to the vrkforCe. Thls process will b8 r8Vi8W8d in 202412025. Various resources to SUPPQrt the workforce to d8liv8r PE were developod. Indudlng summary guidan documents and posters for key partners such as the Oak National Academy, Aclive Black Country and the Commonwealth Swimmlng Legacy Group. The final resource which was completed in r8adin8ss for various stsg8s of edlting, was the 'Safe Practice In PE and Sport Practice 2024 guidanc8'. 111h edition. alPE has continued to engage wlth tho Department for Education (DfE) through rnonthly keeping in touch meetings, plus meetings with various Ministers to not only ensure PE is kept high i)n the political agenda but also to infom new discussions concéming curriculum PE, improving Inacllvity and eXtr8<A11Iar engagement. Alongside the Youth Sport Trust {YST), afPE has been instrumental in designing the Primary PE and Sport fundirvJ and Impaci reporting template and has engaged in several joint meetings and organised webinars with DfE and YST to ensure that all primary schools Gan aesS aGcurate and up to date infomiallon. In 2022 alPE commissioned Loughborough University to'8xamin8 the case for core PE, and they are now in stage two of th8 WO which should b8 completed at lh8 end ofthis year. They have presented initial findings which highligm many positives but also many challenges the sector and govemment must address. Th8 'PE for Life, resaarch has been supported by afPE as a result of the shared common g081s and the importance of the AsSoation being part of this progressive rese8h. In addition, last yeer afPE partnèred to support the Creating Active Schools development and research. alPE has been involvod in several All-Paty Parliamentary Groups (APPGS), including Swmming. Fit 8nd H88lthy Childhood and its report on 'Fair Play for Gids, and Sport. The impact has involved support and greater engagement from across the House of Commons and the House of Lords and ineased invitations to events and m8etings. Discussion with pclicy adviser5 across Ihe hous9 resultsd in afPE planning to ¢reat8 th8 first specthc fcundation subject APPG. A successful Parfiamentary event was held on March 61h to attract attention for a PE APPG and to launch afPE's manifesto ask, to 811 p8rti8S. afPE vrds represented on th8 Sport England Physical Llteracy w01ng group vthich. in collaboration. created the 'Physical Literacy Consensus statement,. afPE was 81s0 a key partner in the work of the School Sport and Physical Activity Advis(ry Board that subs8quently18d to th8 revised SSPA Forum and tsrgeled worf<ing groups. At the end of thè 202213 fiscal year a review of s8rvic8S Was canled OUL as a result. afPE introduced 8 2417, 365 wellbeing support element. including a confidential helpline and asS to 8 wid8 r8ng8 of resources. Members enjoy representing afPE as volunteers 8t events or areas where they have a particular specialism thal the Association needs to call upon. Feedback suggosts thls Is boneficial not only to afPE but trj members, profèssional growth and developrnent. Through th6 afPE Newsletter, th8 various social medla platfomis. PE Matters and PESP, afPE excels in keeping members up to date wth accurate information. Fundralslng a¢tlvltles The charity does not solicit members of the publicfor donations or engage in any other trading activity that does not directly relate to the charitable purpose of the charity. FINANCIAL REVIEW Financlal posltlon At the year end th8 charity has total reserves of £405.687 (2023- £597.312). including total restricted funds of £676 (2023 - £69.363). Page 3
Association for Physical Education Report of the Trustaes for the Year Ended 31st March 2024 Prlncipal funding sources The primary sourcè of income of th8 charity is membership subscriptions, which make up more than hair the charity's annual income. Inv•slmont policy and objectives The charity operates a low risk approach to the investment of funds, suth that any available cash reserves are held in short notice interest bearing bank accounts. Reserves poli¢y The charity's reserv8 pdicy is to hold a minimum level of free reserves of 8t least £300.000 in order to ensure that any delay in reIpt of income by the charity. caused by the actions of third parties, does not effect the ability of the charity to meet its obligations to its benefiaaries. At the year end the charity has free reseNes (unrestricted funds. excluding those held as fixed assets) of £399.447 {2023 - £524,188). The trustees believe that this level of free reserves is appropriate. Principal risks and uncertaintles The trustees have a duty lo identify and review the risks to vthich the Charity is exposed and to ensure appropriate controls ere in place to provide reasonable assurance against fraud and error. The principal risks that the charity are exposed to are the risk of a sudden loss of subscription income and the risk of un8voidable costs increasing in excess of available income for a sustained period of time. Th6 trustees regularly review budget and management a¢Unt information prepared by the charity's staff. FUTURE PLANS The Board of Trustees has implèmented several strategic th8nges to the prevlous stsffing structure in response to the challenging economic environment curr8nlly affecting alPE. Key among these changes is the recruitment of a new CEO, alongside the appointment of several key staff members, eath with ¢1garty defined roles aimed at driving the Association's financial stability. growth, and continued success. Appointed in October 2024, thé new CEO has outlined 8 comprehensiv8 set of corpor8t8 8nd personal objectives for the Board of Trustees, focusing on revenue generation. cost reduction. and the enhancement of intemal processes. The CEO will be supported by the followlng key members of her executive team: A professionally qualified company accountant. responsible for estsblishing robust finanGial procedures, ensuring accurate and timely r8FQrting to the Board. A Mémbership and Engagem8nt Officer, tasked wth increasing membership numbars and achieving revenue tsrgets necessary for the ongoing surxess of the Association. An experienced Operations Manager, focused on delivering significant cost reductions through the mdemization of systems. processes, and improved operalional efficiency. In lin8 with these changes and lo optimize the use of salary expendilure. the Board has made the decision to remove two positions from the staffing structure: Deputy CEO and Assistant Deputy CEO. Any critical functions previously Garried out by these roles will now be absortjed by the new CEO. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The charity is controlled by its goveming document, its Artides of Association. and constitutes a limited company, limited by guarante8. as dgfined by th8 Companies Act 2006. Member5. liability Each member prornises, rfthe tharity is dissolved wthile he or she is a member or within 12 months after he or she ceases to be a rnember, to contrilxrte suth sum not exceeding £1 as may be demanded of hirn or her towards the paym8nt of the debts and liabilities of the charity incuffed before he orshe ceases to be a member. and ofthe costs. charges and expenses of wnding up. R8crultmant and appointment of nfrw trnstees The seleclion of trustees, including that of the thair is required lo be CnduCted via an open, publicly advertised, skills based recruitment process. Any member or non-momber, excluding staff, may nominate themselv8s or another person to b8 a tmstee. Persons identified or nominated as potential truslees need to exhibit the skills necessary to contributs to maintaining an effective management board. The majority of trusteès must be considered independent trustees. i.e. be free of any interesL business cf olhor relalionship which could roasonably be peiVed to intsrfere with that person's ability to act in the best interests of the charity. The membership shall be infomed by July of eaoh year of the names and skills of persons selected to be trustees. If the maximum number of trustees is not meL the board may co-opt other persons to sèrvice for a period up to on8 y88r and may SèTViC8 bèyond thèir initial tsrm up to a maxlmum of three years. Page 4
Association for Physi1 Education Roport of the Trustees for tho Yoar Endod 31st March 2024 Each trustee seNice for three years after selection. at the end of which they retire. Reliring Irustses are 8llgibl8 for immediate re-seledion for 0 rn8ximum of tsvo further temis of three years, after which they are not eligible for fvrtheT sèlection until a period of at laast four years has elapsed. In exc£ptional circumstances. a trusts8 may hold office for a further year. Th8 maximum number of trustees is knwelve. sTRUruRE. GOVERNANCE AND MANAGEMENT Ckganisational structur• The board of Irustegs nonnally meets at least four times per year and establishes an overall framework for the governance of the tharity and detemiining membership. temis of reference and procedures of committees and other group. Th8 board r8ceived reports from the finance committee and other groups where relevant. and decided on whether lo adopt any recommendations received from such groups as de8m8d r818vanL The activities of Ihe committees are monitored by way of reading the minutes of Iheir meetings and reports submitted to the board. The board may from tim8 to time establish working groups to perform specific tasks oveT a limited timescale. The ffinance committee meets at least three times a year and is responsible for monitoring, evaluating and reviewing tt policies and p8rft)nnance of the charity in relation to financial management and Complian with financial reporting and other regulatory requirements. It also inrpOrateS the role of the audit Gommitt89. The finance committee is required to mprise of at least two truste8s norninated by the board of trustees. The board of trustees considers any proposals for changes to the status or goveming document of the charity and its committee structure as appropriate. The board of tnjstees is responsible for settlng general policy, adopting a str8tegic plan and budget, approving the statutory accounts, monitoring the charsty by use of budgets and Other dats and making major decisions about the direction of ihe chaiity. capital expenditure and staff appointments. Induction and training of new tru5t•os The training and induction provided for new trustees depends upon their existing experience but will always include the provision and èxplanation of explanatory documents. such as Yhe Essential Trustee. and similar guidance. key policies and regular professional leaming opportunities at the b8ginning of board m8etings. As there are nomially only fv40 or three new trustees each year, induction tends to be donè Inf0mllY and is tailored Specifically to the individual. Relevant courses offérèd by oth8r bodies 8r8 8tt6nd8d by trustees where available. Key management personnel The board of trustees has delegated responsibilty for the day to day management of the charity lo the key management personnel. The key management personnel comprise th8 Chief Executive Officer. the Operalions Managerand Ihe Finance Manager. The key management personnel implement the policies laid down by the trusts8s and report back to them on performance. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of sociation 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 Aocounting Standards (United lfjngdom Gonerally Accepted Accounting Practice). Company law requires the trustees to prepare fjnancial statements for each financial year vthich give a true and fair view of Ihe state of affairs of the tharitable (x)mpany and of the incoming resources and application of resources. including1he income and expenditure. of the charitable company for that period. In preparing those financial statements, the twstee5 a required to select suitsble accounting policies and then apply them consistently,. obser¥e the methods and principles in the Charity SORP." make judgements and estimates that are reasonable and prudent: prepare the financial statements on tho going concem basis unless it is inappropriate to presume thet the charitable company will continue in business. Tho trustees are responsible for keeping proper accounting records which disdose reasonable accuracy at any time the financial position ofthe charitsble company and to enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are also reswnsible for safeguarding th8 assets of the charitable company and hence for tsklng reasonable steps for the prevention and detection of fraud and other irregularities. Pag8 5
Association for Physical Educatlon Report of the Tru8tO08 for tho Yoar Ended 31st March 2024 In so far as the trustees are aware: there is no relevant audit infoTmation of which the tharitable companys auditors are unaware.. and the trustees have taken all steps that they oupht to have taken to make themselves avre of any relevant audit Infomiation and to e8t8blish that the auditors are aware of that inft>rniatlon. This report has been prepared in accordance th the special provisions of P8rt 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of tnjstees on ...........20.1.25...........................-...... and signgd on its behalf by. Pn)f Jeann8 K8ay- Trusts8 Pag8 6
Report of the Indepondont Audhoro to tho MornborB of Assoclatlon for Physlcal Education Opinion W8 have audited th8 financial statements of Association for Physical Edu¢ation {thè 'charitsble company.) for the year ended 31st M8r¢h 2024 which comprise the Statement of Financial Activities. the Balance Sheet. the Cash Flow Statsment and notes to th8 financial statements, induding a summary of signific8nt accounting polici88. The financial reporting framework that has been applied in their preparation is applicablè law and United Klngdom Accounting Stsndards (United lfjngdorn Generally Aoceptsd Accounting Pr8Ctic8). In our opinion the financial statements: give a true and fair vlew of tho state of the charitable company's affairs as at 31 st M8rch 2024 and of its inoNning resources and application of resources, including its income and expenditure, for Ihe year then ended,. have begn properly prèpared in accord8nc8 with United Kingdom Generally Accepted Accounting Praclice; and have b88n prepared in accordance with the requirements of the Companiès Act 2006. Basis for opinion We conducted our audit in accordance with Intem8tional Standard5 on Auditing (UK) {ISAs {UK)) and applicable law. Our resFonsibilities undèr thos8 Standards are further described in the Auditors, responsibilities for the audit of tho financial statements section of our report. We are independent of th8 charitabl8 company in accordance with the ethical requirements that are relevant to our audit of the financlal statements in the UK. including the FRC'S Ethical Standard, and the provisions available for small entilies, in the circumstsnces set out in note 24 to the financial statements. and we have fulfilled our other ethical responsibilitie5 in accordance Vth these r8quir8ments. We believe thal the audit èvidenc8 We have obtsined Is sufficient and appropriate to provide a basis for our opinion. Conclusions rèlating to golng concam In auditing the financial statements. we have concluded that the trustees. use of the going concem ba818 of accounting in the preparation of the financial statements is appropriate. Based on the work wè hav8 Performed, w8 have not Identified any material uncertainties relating to 8verrts or conditions that. individually or collectively, may Cast SignifinI doubt on the charitsblè company's ability to continue as a going concem for a period of at least e1ve months from when the financial statements are authorised for issuè. Our responsibilities and the r8spon5ibilitl8s of th8 trustses with respect to going concem a described in th8 relevant sections of this report. Othor matters - comparatiVg8 audited by another auditor The fin8nci81 statements of the charilabl8 company for the year ended 31 st March 2023 were audited by another auditor who expressed an unmodified opinion on those financial statements. Other Infomiatlon The trust8es are r8sponsibl8 for th8 Other Infomation. The other inforniation comprises the infornation included In the Annual Rgport, other than the finanal statsments and our Rèport of the Indep8nd8nt Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise èxplicitly stated in our report, W8 do not Oxpress any fom of assurance Conclusion thereon. In connection wth our audit of the financial ststements, our responsibility is to read the other information and. in doing so, ¢on8ider whether the other information is materially inconsistent with the financial statements or our knowledge obtalned in thè audlt or otherwis8 app8ars to be matsrially misstated. If identify suth material inconsist8nci8s cr8pparent material misstatements, are required to detemiine vthelh8r thls 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 misstatsment of thi8 other information. we are required to rèport that fact. Wo have nothing to report in this regard. Opinions on other matters prnscribod by the Companles Act 2006 In our opinion. based on the work undertaken in the coursé of th8 audit: the information giv8n in the Report of the Trustees for the financAal year for which the financlal stat8ments are prepared is consistent wth the financial statements; 8nd th8 Report of tha Trustees has been prepared in aCrdanCe with 8Fplicable legal requlrements. Page 7
Report of tho Indepondont Auditors to thè M8mbfrrs of Association for Physlcal Educatlon Mattèrs on which we aro requlred to report by exception In the light of the knowledge and understanding of th8 charftab18 company and its envtronment obtained in the course of the audit, we have not identÈfièd material misstat8m8nts in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 r8quir8s us lo report to you if. in our opinion: adequate accounling records have not been kept or r8tums adequate for our audit have not been received from branches not visited by us,. or the financial 5tat8ments are not in agreement with the accounting records and retums,. or certain disclosures of trustees. remuneration specified by law ar8 not made- or we have not reiVed all the information and explanations ¥ require for our audit- or the trustees wer8 not 8ntiUed to take advantsge of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of twstees As explained more fully in the Statemenl of Trustees, Responsibilities. fhe truste85 (who are also the directors of the charilable company for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view. and foT such intemal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material mis51atement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible forassessing the ch8ritable company's ability to continue as a going concern. disclosing. as applicable. matters related to going concem and using the going c(mcem basis of 8CLounting unless the truste95 either intend to liquidate th8 charitable Company or ta cease operations, or have no r88listic altemative but to do so. Our responsibilities tor the audlt of the financlal stat8monts Our objectives are to obtain reasonable assur8nce abjut whether the financial statements a8 a whol8 are free from material misststement, whether duo to fraud or error, and to issue a Report of the Ind8P8nd8nt Auditors that includ8s our opinion. Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit conduc18d in accordancè with ISA8 (UK} will always d8t8Ct a m8t8rial misstatement when it exists. Misstaternents can arise from fraud or error and aro considered material if, individually or in the aggr6g8tè. they could reasonably be expected to influence the econcthic decisions of usérs taken on the basis ol these financial statements. The exient to vthich our proc8dur8s are capable of detecting irregularities. Including fraud is detailgd below: Irrègularities, including fraud, ar8 Instances of nonrycompliance wth laws and regulations. We design procedures in line with our responsibilities, outlingd above. to del8Ct matsrial missLgtements in respect of iegularitieS, including fraud. However. il is the primary responsibility of management. wlth the oversight of those charged with govemance. to ensure that the entity's operations are conducted in accordance with the provisions of laws and r8gulations and for the prevention and detectIC of fraud. In identifying and assessing risks of material misst8tem8nt in respect of irregularities. including fraud. we have: obtained an understanding of the nature of the industry and sector, induding the legal and regulatory framgwork that the company operates in and how the company is complying with Ihg legal and regulatory framework" and inquired of Management, and those charged with govemance. about their own identification and assessment of the risks of irregularities. including any known actual. suspected or a118g8d inslances of fraud. As a result of these procedures we consider the most significant layds and regulations that have a direct impact on the financi81 statements are the Charities SORP (FRS 102) 'Ac¢ounting and Reporbng by Charities.. Ststement 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),, Financial Reporting Standard 102 The Financial Reporbng Standard applicable in th8 UKand Republic of Ireland,, the Companies Act 2006 (and related legislation). the Charitie5 Act 2011 (and related legislation) and regulation5 relating to the employment and payment of staff induding, but not limited to, the Employment Rights Ad 1996. the National Minimum Wage Acl 1998 and the Pension Act 2008. We p8rfom8d audit pro¢edur8S to detect Mn-compliances which may hav8 a material impacl on the financial slatements. whith induded reviewing the financial statement disclosures and sample testing of monthly payroll records for the calculation of gross wages, payroll taxe5 and pension WiSts. We idenlified the greatest risk of matsrial imp8d the financial statements from irregularities. including fraud, to be the timing of recognition of grant and contract income. and Ihe allocation by management of costs to individual restricted funds. Our audit procedures to respond to these risks included. testing of a sample of grant and contract income against the terms of th8 funding agr88m8nts and the requirement ofthe Charilies SORP (FRS 102), sample testing on the posting of journals and reviewing accounting 8stim8t8s for biases. Page 8
Rèport of the Indepondont Audltors to tho Membern of Assoclallon for Physical Edu&*lon Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial stataments or nonwcompliance with regulation. This risk increases the more that Complian with a law or regulation is removed from the events and transadions r8fiect8d in the ffinancial statements, as we will be less likely to become aware of instances of n0CoMpli8nCe. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involv8s intentional concealmenL forgery, collusion. omission or misrepresentstiw. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's Vbsite at vwrt.frc.org.ukl8uditorsresponsSbilities. This description fomis part of our Report of the Independent ditors. Pag8 9
Report of thè Independent Auditors to the Mombèrs of Assoclallon for Physlcal Educatlon Use of our report This report is made solety to the charitable companvs member5, as a l)ody, in acrdanCe with Chapter 3 of Part 16 of Companies Act 2006. Our audit worf( has be8n undertaken so that we might state to the charitable companvs members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest èxtent rrnItted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable companls members as a body, for our audli work. for thls report. or for the opinlons w8 have fomied. Melissa Jean Godwin ACA ACCA (Senior Statutory Auditor) for and on behalf of Rith8rds Sandy Audit Sèrvices Limited (Statutory Auditor) Thom8109 House 25 Barboume Road Worcester WR1 1RU Date:....Tr7.. -01:..LS..: Page 10
Association for Physlcal Educatlon statamant of Flnanclal Actlvltles for tho Year Ended 318t March 2024 2024 Total funds 2023 Total funds as restated Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 10.000 10,000 Charilabl8 activitios Charitable activities 557,998 557.998 544.089 Inv8strn8nt income 7,217 5,260 Total 565.215 10.000 575,215 549.349 EXPENDITURE ON Charitable activities Charitable activities 688.153 78.687 76 697.746 NET INCOMEI(EXPENDITURE) (122,938) (68.687) {191.625) (148.397) RECONCILIATION OF FUNDS Totsl funds brought fOard 527,949 69.363 597,312 745,709 TOTAL FUNDS CARRIED FORWARD 676 405 687 597,312 The notes form part of thes8 financial statements Page 11
Association for Physlcal Educallon Balance Sheet 31st March 2024 2024 Total funds 2023 Totsl funds as rnstated Unrestricted funds R8stricted funds Notes FIXED ASSETS Tangible assets Investrnents 16 17 5,563 5.563 3.760 5.564 5.564 3.761 CURRENT ASSETS Debtors Investments Cash at bank and in hand 18 19 50.907 255.000 373.151 50,907 255,000 373,827 173,069 151,606 581,583 676 679,058 676 679,734 906,258 CREDITORS Amounts falllng du8 Wthin one year 20 1279,611) {279,611) {312.707) NET CURRENT ASSETS 676 400,123 593,551 TOTAL ASSETS LESS CURRENT LIABILITIES 405.011 676 405.687 597,312 NET ASSETS 405.011 676 405.687 597.312 FUNDS Unrestricted funds Restricted funds 22 405,011 676 527.949 69.363 TOTAL FUNDS 405,687 597.312 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subjed to the small companies regime. The financial statements were approved by the Board of Trustses and aulhorised for issue on 1910112025 and were signed on its behalf by: M.steVesOv 19/01/25 Michael Stevenson - TTU8tse The notes form part of Ihese financial statements Page 12
As$o¢ialion ft•r Physical Educ*ion Cash Flow Statement for the Yoar Ended 31st March 2024 2024 2023 as restated Notes Cash flows from operating aclivitlOS Cash generated from operations Interest paid (107.532) (141,732) Net cash used in operating activities 107 532) 141.758) Cash flows from investing a¢tlvlllos Purchase of tsngible fixed assets Cash paid into f8d t8mi d8posit bonds Maturity of fixed tem deposit bonds Intest receivad (4,047) {255,000 1 51.606 (395) (151.606) 300.000 5.260 Nat cash (used inyprovided by investing activities 100,224) 153.259 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of tho rnporling period 1207.756) 11.501 570.082 Cash and cash equlvalents at tho end of the roporting period 373 827 581583 The notes fomi part of these finanGial staternents Page 13
As$ociation for Physlcal Educatlon Notes to tha Cash Flow Slatement for tho Year Endod 318t March 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTivrriES 2024 2023 as reststed Net oxpendlture for the reporting period las per the Statèment of Financial Activilles) Adjustmonts for. Depreciation charges Interest received Interest paid Décr8as8 in debtors D8(x8ase in creditors (191,625) (148.397) 1,976 (5.260) 26 35,779 25,856 17,217) 122.162 33,096 Net Cash u8ed in oporations 107.532 141.732) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Not cash Cash at bank and in hand 581.583 207 756 373.827 581583 207,756 373 827 Liquid resources Deposits included in cash Current asset investments 151.606 255 000 255.000 Total 733 189 104.362 The notes form part of th8S8 financial ststements Page 14
Association for Physical Education Notès to the Financial Statsmants for the Year Ended 31st March 2024 ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable Company. which is a publlc ben8ffit éntity under FRS 102. have been prepared in accordance with the Charities SORP {FRS 102)'Accounting and Reporting by Charities: Statement of Recommended Pradice applicable to charitie5 preparing their accounts in accordance with the Financial Roporting standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019).. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The finanrAal statements have been prepared under the historical cost convention. vdith the 8xc8ption of investments which are induded at market value. PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS The financial stalements contsin infomiation about Association for Physical Edu(alion as an individual company and do not contain consolidated finanal infomwtion as the parent of a group. The tharity is exempt under Section 399(2A) of the Companies Act 2006 and under Section 139(3) of the Charities Act 2011 from the requirements to prepare consdidaied financial statements. GOING CONCERN These financial statements have be8n prepared on a going cx)ncem basis. as the tNstees believe that no material uncgrtainli8s regarding going concem exist. In making this assessment. the trustees have considered the levd of funds held and the expected18vel of incom8 and expenditur8 for a p8riod not less than 12 months from thè date thal these financial statements have been authorised. INCOME All income is recognised in the Statement of Financial Activitles once the charity has entitlement to th8 funds. it is probable that the income will be received and the amount (an be measured reliably. Income from grants is recognised in the period in which the charity is entitled to receipt and the amount can be measuréd with r88sonab18 C8rtalnty. Incomè from grants Is only deferred when the charity has to fjjlfil conditions not yet met before becoming entilled to it or where the donor has speafied that the income is to be expended in 8 futur8 P8ri0d. Subscription incom8 is recognised on a straight line basis over tho period of thè subscription. Incom8 from th8 provision of cours8s and other comm8rci81 services are recognlsed on delivery of those services. Incom8 from advertising is recognised in line With the provision of such advertising services. Royalties incom6 is recognis8d in line with the periods for which such income rolates. EXPENDITURE Liabilities a recognised as expendilure as soon as there is a legal or constructive obligation committing the charity to that 8xpenditure, it is probable that a trdnsf8r of economic b8neffts will be required in seluement and the amount crf the obligation r2n be measured reliably. Expenditure is accounted for an accruals basis and has been classified under headings that aggregate all cost related to the cthegory. Where Costs (annot be directly athibuted to particular headings they have been allocated to activities on a basis consistent wth the us8 of resourc8S. TANGIBLE FIXED ASSETS Depreciation 1$ provided at the following annual rates in order to write off eath asset over its estimated useful lrfe. Offir£ equipment Computer equipment 25Qh on rnst 25% on cost The chanty has set a capitalisation limit of £1,000. such that items below this limit are nomially expenses through the statement of fjnancial acbvities rather than being capitalised. FIXED ASSET INVESTMENTS Inv8stments in subsidiaries ar8 measured at cost, less any provlslons for impairmenL TAXATION The charity is exempt from corporation tax on Its charitable activlti8S. Page 15 continued...
Associatlon for Physical Edu&*ion Notos to the Flnaneial Statements - continued for the Yoar Endod 31st March 2024 AccouNfiNG POUCIES - continuod FUND ACCOUNTING Unr8strictsd funds can be used in accordance with the charitsble objectives at the discretion of th8 trustees. Restricted funds can only be used for particular reslrided purposes withln the obj8cts of the charity. Restrictions arise when specified by th8 donor or when funds are raiséd for partlcular restricted purposes. Further explanation of the nature and purws8 of eath fund is includ8d in the notes to the financial statements. OPERATING LEASE COMMITMENTS Rentsls paid under operating188ses are charged to thg Ststement of Flnancial Acbvities on a straight line basis over the period of th8 laasg. PENSION COSTS The charitable company operates a defined contribution pension scheme. Contiibutions payable to the charitable company's pension scheme are charged to the Ststement of Financial Activities in the period to which they r8late. DONATED SERVICES Donated rental facilities are included as bjth donation income and as expenditure, provided the value of the gift can be rneasured reliably. Where the value of the gift cannot be mea8urèd reliably. no amourrts are included. The contribution of unpaid general voluntsers arè not recognised on the basis that it is Impractical to measure rellably the fair value of donalèd goods. FINANCIAL INSTRUMENTS The tharity has electéd to apply the provisic$ of Section 11, Basic Financial Instmments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instNments are recognised when the charity becomes p8ty to contractual provisions of the instrument. Financial assets are offset, the net amounts presented in the 8ccounts where there is a 18gally enforceable right to set off th8 r8cognlsed amounts and there is an int8ntion to settle on a net basis or to realisg th8 asset and settle the liability simultaneously. Basic financial assets Basic finanGial asséts, which indude trade and other receivables and cash and b8nk balances. are initially measured at transaction price induding transaclion costs and are subsequenlly carried at 8mortlsed cost using the èfféctive Int8rest method unless the arrang8m8nt constitutes a financing transaction, where the transaction is measured at the present valu8 of th8 future receipts dIntsd at a market rate of interest. Cash at bank and in hand Cash at bank and in hand includes cash and short-tsmi highly liquid inv8Stments with 8 short maturity of 3 month or Ivas from the date of acquisition or opening of the deposit or similar acunt. Current asset investmonts Current asset inveslments includes cash equivalents on deposit with a maturlty of more than 3 month. but less than one year, from the date of acquisition or opening of the d8POSit or similar accounts. Basic financial liabilitios Basic financial liabilities. including trade and olher payables, ar8 initially recognised at transaction price unless the arrang8m8nt constitutes a financing transaction. whore the debt instrument Is measured at the près8nt value of future receipts. discountèd at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate m8thod. Trade payables are obligations to P8y for goods or services that h8v8 b8en acquired in the ordinary cOue of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction. Page 16 continued...
Assoclatlon for Phys11 Educatlon Notos to the Flnanclal Statements - conllnued for tho Year Endod 31st March 2024 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estimatès and judgèmènts 8r8 conttnually evaluat8d and are based on historical experience and other factOf5, including 8XP8Ctalions of future events that are b81i8ved to reasonable under the circumstances. Critical araas of judgamanl The allocation of staff costs behveen individual unrestricted and restrirted funds is based on thè estimated split of staff time for ea¢h individuel employe8 of the charity bètween such funds. DONATIONS AND LEGACIES 2024 2023 as r8stat8d Donations 10.000 INVESTME1 INCOME 2024 2023 as restatsd Bank interest 5.260 INCOME FROM CHARITABLE ACTMTIES 2024 2023 as r8Stat8d Subscriptions Royalties Advertising Training courses and conferences Olher contract income 338,245 64,970 17,992 114,266 22,525 365,230 60.712 17.433 68,169 557 998 544.089 CHARITABLE ACTIVITIES COSTS Direct Costs Is8e note 7) Support costs {s88 note 8) Totals Charitable activities 272,376 494,464 766,840 DIRECT COSTS OF CHARITABLE ACTMTIES 2024 2023 as r8Stat8d Training courses and conferences Project and contract work cost Travel Sundries Physic81 Education Matters publication costs Physl¢al Educatlon and Sport Pedagogy publication costs General advertising activities Conferences and other events 109,020 46,166 14,458 55.568 123,664 11.755 4.513 48.125 37,038 3.374 16.905 53,872 30,437 3.909 272.376 300,942 Page 17 continued...
Association for Physlcal Educatlon Notes to the Financlal Statemonts - continued for th• Yoar Ended 31st Mareh 2024 SUPPORT COSTS Govemancg costs Management Totals Charitable activities 460 933 33,531 494,464 Support costs, included in the above. are as follovts: MANAGEMENT 2024 2023 as reststed Wages Social $e¢urity Pensions Photocopier rental costs Rent Premise expenses Insurance Office running costs Stsff trav61 Bank charges Health & safety and other technical advi89r8 Irrecoverable VAT Depreciation Bank interest 269,597 22,254 21,780 3,779 11,299 4,708 27,926 27,012 11,824 2,817 30,722 24,971 2,244 221,866 19,176 18,118 3,897 4,408 26,791 19,454 6,660 2,207 27,136 12,666 1,976 26 460 933 GOVERNANCE COSTS 2024 2023 as restated Auditors. remuneration Trustee meeting costs Governance officer fees Legal and professional fe8S 7,350 5,027 16,781 4,373 9,605 7.676 15.142 33,531 32,423 NET INCOMEI(EXPENDITURE) Net incomellexpendiiure) is stated after chargingl(crediting)= 2024 2023 as restated Depreriation - ¢Jwned assets Hire of plant and machinery Other operating leases 2,244 3,779 11,299 1.976 3.897 Page 18 ontinued...
Association for Physical Edu&ition Notes to tho Flnan¢lal Statemènts - continued for the Year End 31st March 2024 10. AUDITORS. REMUNERATION 2024 2023 Current year auditors Audrt of the financial 5tatsments 8,820 Prior year audltors Audit of the finanaal statements Audit of the financial statements - overl(under) on last yeals 8ccrual 8.820 785 1,470 1,470 9.605 Total auditors. rnmunoration 9.605 11. TRUSTEES. REMUNERATION AND BENEFrrs There were no tn15tees' remuneration or other benefits for the year ended 31 st March 2024 norfor the year endèd 31st March 2023. TRUSTEES. EXPENSES During the year 10 trustees were reimbursed expenses totalling £3.184 (2023 - 3 trustees were reimbursed expenses totalling £1,944). 12. STAFF COSTS 2024 2023 8s restated Wages and salaries Social security costs Other pension costs 269,597 22,254 21.780 221,866 19.176 18,118 313.631 259,160 Pension costs relate tri defined contribution sehemes only. The avgfdge t1K)nthly numb8r of employees during the year was as ft)Ilows". 2024 2023 as r8Stated Staff The numb8r of employe8s whose employee benefits (exduding employer pension costs) 8xceeded £60,000 was: 2024 2023 as restated £70,001- £80.000 Key management rSonn rnmuneratlons The key managemerrt personnel of the charity comprises the Chief Executive Officer. the Membership Manager and tho Finan Officer. Totsl remunerations (induding employers N.1. and pension contributions) totslled £156.201 (2023- £169.685). Page 19 continued...
A$socialion for Physlcal Educatlon Notes to the Flnanclal Statements - continued for the Year Ended 31st March 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricled funds Restricted funds Total funds as restatsd INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 544.089 544.089 Investrnent income 5.260 5,260 Total 549,349 549,349 EXPENDrruRE ON Charitable activities Charitable activities 605,031 697,746 NET INCOMEI(EXPENDITURE) <55.682) (92,715) (148.397) RECONCILIATION OF FUNDS Total funds brought forward 583.631 162.078 745.709 TOTAL FUNDS CARRIED FORWARD 527.949 69.363 597.312 14. PRIOR YEAR ADJUSTMENT The compara11ves hav8 been restated for the following adjustments: 1 Deferred membership income was miscalculated in prior years. The comparatives have been 8mended to increase deferred incomg as at 31 Mah 2023 from £32.512 to £204.587 and as at 31 March 2022 frorn £44,334 to £206,691. 2 In prior years restricted fund grant income was accounted for uslng the accrual model. However Charfties SORP requires that grant income be recognised using Ihe perfomianc8 mod81. Thè comparatives have been amended to refiect the different point in time that grant incom8 is recognised under the perfomance model compared to the acxrual rnodel. 3 In prior years there was a rèslricted fund called Regions and Home Counties fund. Howeverthis fund derived from unrestricted trading inrne. The compar8tiv8s have been amended to show this viithln general unrestricted funds, rather than as a restricted fund. 4 Cash held in 1 yearfixed tem d8POSit b)nds totalling £1 $1.606 (2022- £300.000)were in prioryears included in cash at bank. The comparatives have been amended lo redassify these balances as current asset investments The effect of th8s8 prior year adjustrnents on lasl yeafs statement of financial activities is as follow5- Original balances adjust adjust adjust adjust Adjusted balances Incorne Donations and legacies Charitable activities Investment Income 98.644 553,807 5,260 (98.644) (9.718) 544.089 5.260 Expendlturo Charitable adivities 697.746) 697.746) Net incomel(expenditure) (40.035) (9,718) (98.644) (148,397) Opening totsl funds 780.048 162.359) 128,020 745,709 Closlng total funds 740.013 172.077) 597.312 Page 20 conlinued...
Assoclatlon for Physl¢al Educatlon Notss to the Flnanclal Slatements - contlnued for the Year Ended 31st March 2024 14. PRIOR YEAR ADJUSTMENT - contlnu•d Th8 effèct of these prior year adjustments on the balance sheet as at 31 March 2023 is as follows." Original balances adjust adjust adjust adjust Adjustod balances Tangible fixed assets Fixed asset investments Debtor5 Current asset investments Cash at bank Creditors 3.760 3.760 143.693 29.376 173,069 151.606 581.583 312.707) 151,606 (151,606) 733.189 140.630) 172.077) 740.013 172,077 29,376 597.312 Unrestrided fvnds R8strict8d funds 663.515 76,498 {172,077) 36,511 527,949 69,363 740.013 172,077 29,376 597,312 The effect of these prior year adjustrnents on the balance sheet as at 31 March 2022 is as follows.. Original balances adjust adjust adjust adjust Adjustod balan¢e8 Tangible fixed assets Fixed asset invesbments Debtors Current asset investments Cash at bank Creditors 5,341 5.341 96.348 112,500 208.848 300.000 570.082 338,563) 300.000 (300.000) 870.082 191.724} 162.359) 15.520 780.048 162.359 128.020 745.709 Unrestrided funds Restricted funds 721.523 58.525 (162.359) 24.467 583.631 162,078 780,048 162,359 128 020 745,709 15. DONATED SERVICES During both the current and previous years, the University of Worcester provided the charity with office space and re18ted s8Nic8s fr88 of charg8. No value has been included in the financial statem8llts to reflect this donalion of services, on the basts the value of thes8 seNices cannot be reliably detemined. Page 21 continued...
A8sociation for Physical Educatlon Notos to the Flnanclal Statements - eontlnued for tho Yoar Endod 31st March 2024 16. TANGIBLE FIXED ASSETS Office equipment Computer equipment Totals COST At 1st April 2023 Additions 3,008 782 29,288 3,265 32,296 4,047 At 31st March 2024 3,790 32.553 36.343 DEPRECIATION At 1 st April 2023 Charge for year 2,712 296 25.824 28,536 2.244 At 31st March 2024 30,780 NET BOOK VALUE At 31st March 2024 782 4,781 5,563 At 31st March 2023 296 3.760 17. FIXED ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At 1 st April 2023 and 31 st March 2024 NET BOOK VALUE At 31st March 2024 At 31 st March 2023 The company's Investments at the balance sheet date in the share pital of companies include the following: alPE Limited Registered offi. 1 Elgar Business Centre. Moseley Road. Hallow. Worcester, WR2 6NJ Nature of buslness: Domant Class of share: Ordinary holding 100 2024 2023 Aggregate capital and reseNes 18. DEB TORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 as restat8d Trade debtors Other debtors A¢¢rued income Prepayments 14,692 3,025 19.107 14,083 36.043 124.101 12,925 173.069 Page 22 continued...
Assoclation for Physlcal Educatlon Notes to the Finan¢ial Ststemgnts - continued for the Year Ended 31st March 2024 19. CURRENT ASSET INVESTMENTS 2024 2023 as rèstated Cash equivalents on deposit 255,000 151,606 20. CREDITORS: AMouKfs FALLING DUE wrrHIN ONE YEAR 2024 2023 as restated Trade creditors Social security and other taxes VAT Other creditors Accrued expenses Deferred income 42,312 6,298 14,162 2,480 23,778 190 581 50,273 6,314 11.632 7,118 12,447 224,923 279.611 312,707 Deferred income Defeed income at the year end consist of.. 2024 2023 Membership subscrlptlons Advertising income Royalties Annual conference fees Other income 174,460 12,371 3,750 204,587 12,371 3.750 2,124 2.090 190,581 224,922 All deferred income at the end of last year was released tr) thè statement of financial 8Ctivities during th8 curnnt financial year. 21. LEASING AGREEMENTS Minimum lease payments under nonwcancellable operating leases fall due as follows: 2024 2023 as reslaled Within one year Between one and five years 15,448 13,402 2.730 2.730 Page 23 continuad...
Association for Physical Educatlon Notes to the Flnancial Statoments - Continued forthe Yoar Ended 31st March 2024 22. MOVEMENT IN FUNDS Nel movement in funds At 31.3.24 At 1.4.23 Unrestrictsd funds General fund 527.949 1122.938) 405,011 Restricted fund8 Gerald Murray Sport England- Primary PE Sport England- Secondary Teather Training 676 39.313 29.374 676 (39,313) 29,374 69.363 68.687 676 TOTAL FUNDS 597.312 191625) Net mov8m8nt in funds. induded in the above ar8 as follows: Incoming resources Resources expended Movement in funds Unrostricted funds General fvnd 565.215 {688,153) {122.938) Restrided funds Sport England - Primary PE Sport England - Secondary Teacher Training Concussion Tesources for schoo15 (39.313) (29.374) {39.313) {29,374) 10.000 8,687 TOTAL FUNDS 575.215 66.840) 191,625) Comparatlves for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds Generdl fund 583.631 (55.682) 527.949 Restricted funds Gerald Murray Sport England - Primary PE Sport England - Secondary Tèacher Training 676 42.080 119.322 676 39.313 29.374 {2,767} 162.078 92,715 69.363 TOTAL FUNDS 745 709 148.397) 597.312 Page 24 ontinued...
Association for Physlcal Edu&*lon Notss to the Flnanclal Statements - contlnued for the Yoar Endod 31st March 2024 MOVEMENT IN FUNDS - continued Comparative net movement in funds. included in the above are as follows: Incoming resources Resources èxpended Movemènt in funds Unrestrided funds General fvnd 549,349 (605.031) (55.682) Restrlcled funds Sport England - Primary PE Sport England - Secondary Teacher Trainlng (2,767) 89.948 (2.767) 92.715 92.715 TOTAL FUNDS 549,349 697,746) 148,397 DESIGNATED FUNDS Règions and Home Counties Relates to funds raised by regional committees which is ring-fenced for those regions future use. There is no fixed time fram8 under vthich th8so funds are expected to be spent by. RESTRICTED FUNDS Gerald Murray Relates to a historical bequest to be used to reward the professi¢)nal vthen colleagues have madè 8 significant contribution. Sport England - Primary PE Relates to grdrts reiVed from Sport England to b8 Used to assist with providing PE aclivities to primary school children. Sport England - Secondary Teacher Training Relates to grants reeEived from Sport England to be used to provide a secondary teacher training programme. 23. RELATED PARTY DISCLOSURES There were no r8lat8d paty transactions for th8 y8ar ended 31 st March 2024. FRC EfHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES In common wlth many othor businesses of our slze and nature we use our auditors to prepare assist with tha preparation of the financial statements. Page 25
Assoclatlon for Phys11 Educatlon Dotalled Statomont of Flnanclal Actlvltles for tho Yoar Ended 31st March 2024 2024 2023 as restated INCOME AND ENDOWMENTS Donations and legacios Donations 10,000 Inveslrnent Income Bank interest 7,217 5,260 Charitable activitias Subscriptions Royalties Adverbsing Training courses and conferenc85 other contract income 338,245 64,970 17,992 114.266 22,525 365,230 60.712 17,433 68,169 32.545 557.998 544,089 Total incoming resources 575,215 549.349 EXPENDITURE Charitablé activitias Training courses and conferences Proied and cntraCt worf( st Travel Sundries Physical Education Matters publication costs Physical Education and Sport Pedagogy publication costs General advertising activities Conferences and other events 109,020 46,166 14,458 55.568 123,664 11,755 4,513 48,125 53,872 30,437 3,909 37.038 3,374 16.905 272,376 300,942 Support costs Wages Social security Pensions Photocopier rental costs Rent Prernise expenses Insurance Office running costs Staff travel Bank charges Health & safety and other tsGhni¢al advisers Irrecoverab18 VAT Depre¢ialion Bank interest 269,597 22,254 21,780 3,779 11.299 4,708 27,926 27,012 11.824 2,817 30,722 24,971 221.866 19.176 18.118 3.897 4.408 26.791 19.454 6,660 2.207 27,136 12,666 1,976 26 460,933 364.381 This pag8 does not fom part of th8 stalutory financial stateff*nts Page 26
Assoclatlon for Physlcal Education Detallod Statement of Financial Activiti08 for the Yèar Endèd 31st March 2024 2024 2023 a5 restated Govemance costs Auditors, remunoration Trustee meeting costs Govemanc8 officer fees Legal and professional fees 7.350 5,027 16,781 4.373 9,605 7,676 15.142 33,531 32.423 Total r8sources expend8d 766.840 697.746 Net oxpondlture 148.397) This page do8s not fom part of the statutory financial statements Page 27