REGISTERED COMPANY NUMBER: 055266371England and Wales) REGISTERED CHARITY NUMBER: 1114673 Report of tho Tru8tw and Flnanclal Statémènts for tho Yoar Endèd 31st March 2025 for Assoclatlon for Ph￿1¢¥[ Education Richards Sandy Audit Sen*ices Llmlted {Statutory Auditor) Thomeloe House 25 8art)oume Road WOr￿Ster WR11RU A88oclallon for Phy41¢al Educatlon Contonts ol th? Flnanelal 8tatom•nt• for the Year End•d 3181 Mareh 2025 Pag• Referen¢e and Admlnlstratlw Detall• Report of th? Tru8toe8 2 to 6 Report of the Indopondent Audltorn 7 to 9 Statement of Flnanclal Actlvltie• 10 ane• Sh••t 11 Ca8h Flow Statsmont 12 Note• to the Cash Flow Statsment 13 Not05 to the Flnanclal 8tatomonts 14 to 23 Dotallod Statement of Flnanclal Acllvltl•s 24 to 25 A8so¢latlon for Physl¢al Educatlon Rof•ronce and Admlftlstratlvo Dota118 for the Year Ended 31st Mar¢h 2026 TRUSTEES Ms Rebecca Antcjiffe Mr IfjTan Bali {re5igned 1.4.24) Dr Rachael Bullingham Mr Richard Patel Grainger (appointed 12.12.24) ProfJo Harris Mr Mike Chalmers Jess Prof Jeannè Keay Mr Charfie L'Anson Dr Christine Lloyd Mr Richard Neal {resigned 31.8.24) Ms Kate Pjexandra Stephenson (appointed 12.12.24) Mr Michael Stevenson COMPANY SECRETARY Ms Kate Louise Thomton-Bousfield REGISTERED OFFICE 1 Elgar Business Centre Moseley Road Hallow Worcestershire WR2 6NJ REGISTERED COMPANY NUMBER 05528837 (England and Wales) REGISTERED CHARITY NUMBER 1114673 AUDITORS Richards Sandy Audit Services Limited (ststutory Auditor) Thomeloe House 25 B8rboume Road Worcester WR1 1RU CHIEF EXECUTIVE OFFICER Suè Wilkinson Kate Thomton-Bousfield (to 30 September 2024) {from 1 October 2024) FINANCE MANAGER IQM Banks OPERATIONS MANAGER Mike Goode (from l June 2024) Page 1 A88oclatlon for Phy8l¢al Edu¢atlon Roport of the Trustses for thg Y•ar Endod 318t March 2025 The trusteos who aro also directors of the ¢harity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for thè year ended 31st Ma￿h 2025. Thè trustees have adopted the provisions of Accounting and Reporting by Charitiés.. Ststement of Recommended Practice 8pplicabl8 to charities preparing their accounts in accordance with the Finandal Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objects The charity's obj8cts a5 set out in its goveming document are the advanc8ment of high-quality physical education foT the benefit of the public, parbcularfy but not exdusively by pmmding consultstion and qualified adwce to the teaching profession, schoo15 and other ststutory or govemment agencies. Slgnifi¢ant aclivlUe¥ The Assocaation for Physical Education {afPE) is a charitable company. a membership organisation and the subjeL association for physical education in the United Kingdom. We are the voice of Physical Education (PE) and our vision is to support the workforce to put physical education at the heart of school life. We provide quality assured services and resource8 and valuabte professional support for our members and Ihe physical education, Khool sport and physical actimty secior. We offer. A wide range of high-quality membernhip 8ervic8s. Accredited professional leaming opportunities and vocational qu81ifications. Joumals (Physical Education Matters & Physical Education and Sport Pedagogy). Advice, support & employment opport4Jnities. Monthly e-newsletter, Ernailthd&otheblnar updatos. Representation at key stskeholder meetings and national working partles. Insurance covEr and dedicatsd helplines. including support for health & safety and legal advlce. We are not about quid( fit solutipns. wfj want a sustalnable legacy, so that in another 15 years do not have ina¢tiv8 young people and a growlng obesity profile. Proaclivo solutlons worked across the sector by key stakeholders in tNe partnership, will ensure children and young people have the knowledge. skills but more importantly the ph￿1￿1 health and emotional wellbeing to achieve tha vary best Ihat Ihey can. alPE* Ml8slon Statsmont The Association for Physical Education laTrE) is committed to belrKJ tho UK representative organisalion of choice for people and agencies d91ivering or SuppO￿n9 physical education in schools and the wider cornmunity. afPE'¥ Corporato ObJocllve$ Demonstrats the distinctive rolè of physlcal educa￿'on in children and young péople's leamlng, development and achievement Estsbli$h and sustsin physical education at the ￿art of school life and wholfrschool development, through suwort for high quality leaming and teaching: research,- gthical lead8rship and politi￿llY infcnned advocacy and representation. Raise awareness Df physical education's contn"bution to public health and welkbeing and increased parbcipation. Play a leading role in the development of a Workfor￿ with thé skills and qualities required to assure high qualty physical education and sport in schools and in the wder community. Provide high quality, professional, sustainabl8 s8Nces for members and partners. Publlc bonoflt Thg trustpes Confi￿ that they have complied the duty in SeLlion 4 of Challtiès Act 2011 to have due regard to the guidance issued by the Charity Commission conceming publtc benefiL The trustees are sats'sfied that the charivs actiirities are for th8 public benefit, being the development. establishment and sustained high quality PE, sport and physical activity arxoss the education. sport and physi￿1 actiwty sector. This benefits the community by demonstrating, raising awareness, supporting, guiding and advising on the importance of th uptske and partiGip8lion in phy3i¢HI education. sport and physi￿1 actimty 2nd its contribution to public heallh and W811-being. ACHIEVEMENTS AND PERFORMANCE Charftabl• activhlos During 202415 afPE has continued to focus on supporting its members in a range of ways Includlng l. the provision of professional development opportunities.. ii. representing members and the subject as a ￿Ole in political debates and rovlews., and ill. supporting members both individually and across the health and safety sector. Page 2 Asso¢iatlon for Physl¢al Education Rèport of tho Trustees for the Year End•d 31st March 2025 The provislon of professional development opportunlties induded running a Professional Development Day in Der*mber 2024. 250 profession815 attended. This model vRs successful but will be developed to reflect the growing n8eds of the profession. A swtch in the timing of the event and locatlon will be reviewed for 2025126 to enable larger reach and engagwnent reflerting the growng membership. 8IPE has continued to host regular CPD events eround Early Years support, curriculum development. trampolining and health and safety. alPE has reviewed its professional dovelopment portfolio and its approach to delivering CPD providing regular webinars and members input into sharing good and ￿st practice. afPE has retained a national profile as a professional development provider that enables not onSy PE professionals, but wider sector partners, to understand and engage Ihe 'PE for life, ideology and commitrnenL afPE continued to WOTk alongside accredi￿n9 partner, the Leadership Skills Foundation (LSF), to develop additional opportunities, which have been designed, piloted and implemented. The ejisting level 5 qualification has undergone a S￿nIfi￿nt overhaul and investment into re wrsling it to ensure it is fit for pU￿0$e has undertaken. A new delivery model will also be implemented whith will bring consistency in the content and delivery, as ￿￿11 as bringing higher income for afPE. afPE h8s implemented a quality assurance servl¢e for providers of CPD to be afPE approved 81ongslde approving commercial schemes of work. The Quality Mark IQM)process has undergon8 a significant rewi8w in temis of process. It has boon streamlined to become more time efficient and cost effectivo. The new QM process has been rolled out and byill be o)ntinually reviewed to ensure it remains relevant and meets the needs of schools in rewewing how good their PE provtsion is. QM wll have to be reNiewed again once the new Otsted Framework is in place. QM continues to provtde examples of good practSce that are shared wth Department for Edu¢ation and acls as effective support to the workforce. afPE has provided significant support to Oak National Academy PE curriculum resources through a health and safety lens. This work has been carried out vath key sector parthers. These resources signpost to alPE as the Subject Association and are freely 8V8iIBble to 811 practitioners and trainees ralsing aw8reness of our role. Safe Practicè h8S bgen Temèwed 8nd 202415 saw Safe Proc*i¢e become a digital resource. This not only incr88sed its reach and accessibility but allowed thè functionalty for it to be edited immediatety to align any changes in law and practi ensuring guidance was ahvays up to dste. aiPE has continued to engage Viith the Deparlment for Education {DfE) through monthty keeplng in touch meelings, (K.l.n, plus meetings various Ministers to not onty ensure PE is kept hlgh on the polibcal agend8 but also to info new discussions conceming curriculum PE, improving inactimty and e>thE has held a series of consultstions with the sector and provid8d a revised PE paper that was read by the CAR Panel and DE. We are hoping to se• the content of the paper reflected in the recommendations to DIE for curriculum change. atPE was represented on the Sport England Physical Litsracy working group Nthich. In collaboration, created tho 'Physical Litèracy Consensus slatemert. afPE was also a key partMr in the work of the School Sport and PhysieAI Aciivlty Advisory Board that subsequently18d to the remséd SSPA Forum and tsrgètsd vthing oroups. afPE presented at the spring SSPA Forum around curriculum refom). Page 3 A880elatlon lor Ph￿1￿1 Educallon Rèport of tho for the Yèar End?d 31st Mar¢h 2025 hA8mbers enjoy reprgsènting alPE a$ volunteers at events or areas vthere they have a parkncular $peualism that the Association needs to call upon. Feedback suggests thi3 18 b8neficial not only to aTrE but to members, Professional grovth and development. Through the afPE Newsletter, the various $a¢ial media platfomis, PE Matters and PESP, afPE excel$ in keeping members up to d8te accurate infonnation. Fundral8lng actlvftle8 The charity does not solicit members of the public for donations or engage in any other trading activty that doe5 not directly relate to the charitable purpose of the charity. FINANCIAL REVIEW Flnanclal posltlon At the year end the charity has total reser¥Es of £215,594 {2024 - £405.687), including total restricted funds of £676 (2024 - £6761. Prlncipal lundlng sources The primary source of income of the charity is membership subscriptions. vthich make up more than half thè charitys annual inc(The. Invostm•nt policy and oblèctlws The charity operates a low risk opproach to the in￿Strnent of funds, such that any available cash res?rve3 are hekl In short notice interest bearing bank accounts. Rèt•rve8 pollcy The charitys reservè pollcy Is to hold a minimum bvel of free resep48s of at least £300.000 in order to ensurè that any delay in receipt of Income by the charity, caused by the adions of third parties, do8s not affect the ability ofthe charity to meet its obligations to Ils beneficiaries. At the year end the charity has free r&sen48s (unrestricted funds, exduding those held as fixed a¥sets) of £209.506 (2024- £399.447). Th6 trustees believe thatthis level of free Rserves Is appropriate. The trustees have gndors8d the new CEO'S strategy for retuming the organisation to profitsbility. At the date of signing this report (November 2025) this strategy has retumed the association to profitsble ststus as per the documènted July 2025, year to dats finances. We will continue to remew our finan¢os and when prudent to do so, we will Tebuild our reserves to the £300,000 position stated in our resorvas policy Prfnclpal rfsk8 and uneértalntl•s The trusteos have a duty to Identify and rewew the risks to vthich Ihe charity is exposed and to ensure approprlats controls are in plac¥ to provide rea8on8bi8 assurance against fraud and error. The principai risks that the tharity are eyposed to are the risk of a sudden loss of subsrJiplion income and the risk of unavoidable costs incfeasing in exf*SS of available income for a sustained period of time. The trustees regularly revi budg8t and management account infomiation prepared by the charity's Staff. FiJfuRE PLAN8 During the 2024125 finanual year. the Board of Trustees implemented several stratggic changes to the staffing structure in response to alPE's challenging econi)mic enMronmenL The new CEO appointed in October 2024 has already delivered on a range of activities focused on revenue gengration. cost reduction. and the onhan(*ment of internal processe5. Thi8 will continue to ba the focus in the ye8r ahead. The CEO h85 been supported by her ex8cutive team, in partiujlar.. o A professionalty qualified company accountant responsible for establishing robust financial procedures, ensuring accurats and timely reporting to the Board. o A Membership and NetWOTks M8nager tasked with increasirMJ membership number5 and a¢hi8vlng revenue targets n￿ssary for the ongoing success of the AssoGi*ion. Page 4 A8soclation for Physl¢al Education Rèport of th• Tnmte for th• Year Endod 31•t March 2025 The Board of Trustees have worked dosely with thè CEO in recent months to establish a set of corporats cojectives for 2025f26 that will continue th9 programme of change already undertaken and ensure organisational success. These objectives includ8 - o A restructured executive team with roles, responsibilities and perfomianco management allgned to the organisation's Key Perfornian￿ Indicators. o The implementation of a new membershlp management Systsm which will enable end support in¢rea$ed membership numbers and improve automated integration V￿th our current finance system. o Embed new T&Cs to ensure the remu￿ratiOn pad(ages of executive staff reward perfomiance and accomplishment of organisational objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT Govomlng documènt The charity is ￿ntrOlled by ts goveming document, its Articles of Association, and constitutes a limited comp8ny. limited by guarantee. as defined by the Companies Act 2006. Mèmb•rn' Ilablllty Each member promises, if the charity is dissolv8d while he or she is a member or wbthin 12 months after he or she ceases to be a mèmber, to contribute su¢h sum not exceeding £1 as may be demanded of him or her towards the payment of the debts and liabilities of the charity incurred b8for8 he or she ¢e8ses lo be a member, and of the costs. d)arges and expènses of *fjnding up. Recrullment and appolntmont of now tru8tse8 The selection of trustees, including that of the thair is required to be conducted an open, publidy advertised, skills based recfUitm8nt process. Any member or non-member, exduding staff, may nominats themselves or another person to be a trustee. PeTsons identified or nominated as potentlal trustees need to èxhiblt the s￿11$ necessary to contrlbute to maintaining on effective management board. The majority of trustses must be considgred independent trustees, i.e. free of any interest, business or other relationship vA)ich could reasonabty be percelved to interfere with that person's ability to act In the best interests of the tharity. The membership shall bo informed ty July of each year of the names and skills of p8rsons selected to be trustees. If the maximum numbèr oftrustees is not met, the board may COwOPt other persons to sebvice for a poriod up to one year and may service b&yond their initial tsmi up to a maximum ofthree years. Each trustee Servi￿ for three years after selection, at thè end of which they retlre. Retiring trustees are eligible for immediate re48lection for a maximum of two fijrther teThs of thr66 years. after which they aro not eligible for further selection until a ￿riod of at least four years has glapsed. In ex￿pIlOna1 circumstanrAs, 8 trust88 may hold Offi￿ for a furthèr year. The maximum number of trustees is trwelve. Oryanllatlonal 8tNcturo The board of trustses nomially meet at least four times per year. and estsblishes an overall framework for the govemance of thè d)arlty and determining membèrship, temis of reference and procedures of eth)mlttees and other groups. Thè board received reports from the finan￿ committee and other groups, where relevant, and decbded on whether to adopt any recommendations recalved from suth groups as de￿e￿ relevant. The activities of the committees are monitorèd by way of reading the minutes of thelr meetings and reports submitted to Ihe board. The board may from time to time estsblish working groups to perform 5￿cifiC tasks over a limlted timescale. The finance committee meets at teast thre8 tlmes a year and Is rosponsible for monitorlng, evaluating and reviewlng the policies and perfomance of the charity in relatlon to financial management and compliance with financial reporting and other regulatory requirements. It also inco￿OrateS th8 role of the audit committeo. The finanf* commltte8 is required to mprisè of at least tr4VO trustees nominated by the board of trustees. The b¢)8rd of trustees considers any proposals for ¢hang8S to the status or govemlng document of th8 tharlty and its committa• stnJciure as approprfate. The board of trustses is responsible for seth.ng gengrol pollcy, adopting a strateglc plan and budgè( approving the statutory accounts. monitoring the Charity by use of budgets and other data and making malor decisions about the direction of the Charity, capltal e￿endIture and stsff appointments. Indu¢llon and tralnlng of nèw trustees The training and Induction provided for new trustees depènds upon their existing e>perience but will always include the provision and explanation of explanatory documents. such as The Essential Trustee. and slmilar guidance, key policies and regular pyof￿1Onal leamlng opportunities at the beginning of board meetings. As there are nonnally only tr•¥0 or three new trustees each year. induction tends to be dono infornally and is tailored speclfically to thè individual. Specific relevant courses offered by other bodiès are attended by trustees where av8ilable. Page 5 A•soclatlon for Phy•lcal Edu¢atlon Report of tho Tru8ts8* for the Year Ended 31•t Plarch 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT K?ymanauomont pfrr•onnèl Th8 board of trustees have delegated responsibility for the day4Hlay management of the charfty to the key management pèrsonnel. Tho key management P8rsonnel comprise the Chlef Executive Officar, the Membershlp and Nelworts Manager and the Fin8na81 Officer. The key management personnel implement the polia8s 18ld by the trustees and report back to them on performance. STATEMENT OF TRUSTEES, RESPON81BILITIES Th8 trustses (who are also the directors of Association for Physical Education for the purposes of company law) aré responsible for preparing th& Report of the TNstees and the financial statements in accordance with applicable law and United lQngdom A￿Ounting Standards {United Kingdom Generally Accepted knOun￿n9 Practice). Company law requires the tru$tses to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statemgnts In accordants Unitad lQngdom G8nerally Accepted kcounting Practice (Unlted lQngdom A￿OUnting Standards and appllcable law). Undor company law thè trustees must not approve the financlal statements unless they are satisfied that they give a true and f8ir view of the stats of affairs of th8 chariiable Company and of the incoming resourckns and appllcation of resour￿$, induding thè income 8nd expenditure. of the charitable ¢4)rnpany for that period. In preparing those financial statements. thè trustees are required to select sultsble accounting pollcl8s and then apply thèm consistently, observe the methods and principles in the Charities SORP: make judggments and estimates that are reasonablo and prudent., prepare the financial statements on the going concem basis unless It is inappropriats to presume that the Charitable company will continua in buslness. The Irustees are résponsible for keeping proper accoun￿'ng records vthich dlsclose Vthith reasonablo accura¢y at any time the financial position of the charltsble company and to enable them to ensure that the finanoal statements ￿MplY with the Companies Act 2006. They are also ffjsponsible for safeguarding the assets of the charitable Company and hence for tsking reasonablè stsps for the prevention and detection of fraud and other irregularities. In ￿ far as the trustses are aware: there 18 no rèlevant audit information ofwhich the charilable eompanvs auditors are unaware., and the truste￿ have taken all step$ that they ought to havo tsken to make themselves aware of any rel*￿nt audit infonnation and to establish that the audrtors are aware of that infom)ation. This report has been prepared in accordance with the special provkslons of Part 15 of the Ccfflpani88 Act 2006 relating to small companSes. APpro￿d by order of the board of thjstees on 13th November 2025 and signed on its behalf by.. Mr Mlcha81 Stevenson- Trustse P8ge 8 Roport of tho Indopondent Audltors to the Momb•rn of Assoclatlon for Phygl¢al Edu￿tIon Oplnlon We have audited the financial ststements of Associatlon for Physical Education (the 'charitsble company) for the yè8r ended 31st March 2025 which comprise the Statement of Financial Actimties, the Balance Sheet, the Cash Flow ststement and notes to the financial statsments, in¢ludin9 a summary of significant a¢countr'ng policies. The financial reporting framework that has been applied in their preparation is applicable law 8nd United lfjngdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Pra¢ti¢e). In our opinion the financial statements: give a true and fair view of the state of the charitable companys affairs as at 31st Marth 2025 and of its incoming resources and application of re50urce5, induding its income and ewenditure. for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wth the requirements of the Companies Act 2LKJ6. Ba818 for opinlon We conducted our audit in accordance *ryth Intemational Standards on Auditing {UK) (ISAS {UK)) and applicable law. Our responsibilities under those standard5 are further described in tho Auditors, responsibilities for the audit of the financial statements section of our repo￿ We are inde￿ndent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financAal slatements in the UK induding the FRC'S Ethical Standard, and the promsions available for small entities, in the circumstsnces Set out in nots 23 to the financial ststements, and we havg fulfilled our other ethical responsibilrties in accordance with these requirements. We believe that the audit evidence have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslon8 rèlatlng to golng concern We draw your attantion to note 1 to th8 8ccounts. Othgrwi88. in auditing the financial $tatements. we have conduded that the tTustse8' US8 of the going concem basis of accounting in the preparation of the finanaal statsmants is appropriats. Based on the have perforrned, we h8ve not identified any matsrial uncertainties rèlating to events or conditions that, indivldually or collectively, may cast signfficant doubt on the charilable company's ability to continue as 8 going concem for 8 period of at least Iwelve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilitles of the trustses V￿1h respect to going ¢oncem are desoibéd in the relevant sectlons af this rÈporL Other Inforniallon Thè trustees are responsibl6 for th8 other infonnation. Tho other Snfomation comprises the information included in the Annual Report. othèr than the financial ststements and our Report ofthè Independent Auditors thereon. Our opinion on the finandal statements does not cover the other infomialion and, except to the extent othenthse explidtly stated in our report, we do not express any fom of assuranGe conclusion thereon. In connection wth our audit of the financial statements. our responsibility is to read the other infonnation and, in doing so, consider whether the other infoThnalion is materially inconsistent Iwth the financial statements or our knowAedge obtained ID the audit or othe￿ise appears to be materialty misstated. If we identify such matsrial inconsistencies or apparent material misstatements. we are required to deternine whether this giv85 rise to a material rni55tatemerrt in the financial statements themseFves. If. based on the worf( we have p8rfomied, we conclude that there is a material mi5ststement of this other infom)ation, V•P are Tequired to report that fact. We h*¥* nothing to report in this ￿gard. Oplnions on oth•r mattorn prgBcribgd by tho Companles Act 2006 In our opinion. based on the work undertaken in the course of the auditr. the infornation given in the ReF￿rt of the Tnthe$ for the financial year for which the financial statements are prepa￿d is consistent W￿th the fina￿tal ststements" and the Report ofthe Twstees has tjeen prepared in accordanc8 bMth applicable18gal requirements. Mattor8 on whlch TW• aro roqulred to r•port by ox¢eptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audQ we have not identified material misstatements in the Report of the Trustses. We have nothing to report in respect ofthe following matters where th8 Companies Act 2006 requirns u$ to report to you if, in our opinion- adequate accounting records have not b88n kept or retum5 adequate for our audit have not been Trc8ived from branches not visited by us: or the financi81 statements are not in agreement with the accountlng records and retums. or cartain disdosure5 of Irustees, remuneration specif￿￿ by law are not made; or have not ￿1Ved all tho infomation and explanations we require for our audit,. or the trustees were not entiued to take advantage of the small Companles exemption from the requirement to prepare Strategic Report or In preparing the Report of the Trustees. Page 7 Roport of th• Indopendent Audltorn to the Momber8 of Assoclatlon for Phyglcal Educatlon R••ponslbSllti•s of tru$tsè8 As explaingd more fvlly in the Statement of Trustees, Responsibilities, the trustses (tho are also the directors of the charitable company for thè purposes of company law) are responsible for th& preparation of the financial sl*ements and for being satisfied that they give a tru8 and falr vlew, and for 5uth Intemal Control as the trustees d8tsmilne is necessary to enable the preparation of finan￿al ststsments that are free from material misststèment. vthether due to fraud or error. In preparing the financial statements, the trustses are responsible for assessing th8 charltable companys ability to continue a5 a going cOn￿rn, disclosing, as applicable. matters related to going concem and using the going concem basss of accounting unless the trustee8 either intend to liquidate the charitable Cffiipany or to cease operations, or have no realistic alternatlve but to do 80. Our r•spon8lbllltle* for the audlt of the flnancial 8tatsmonts Our obj'eclives are to obtain reasonable assuranc8 about vthether the financial ststements 8s a bthole are fr08 from material misstatement, whether duo to frasjd or error, and to issue a Report of the Independgnt Auditors that Indudes our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audtt conducted in accordance V￿th ISAS (UK) will a￿ayS deted a material misstatement when it exS5ts. mI￿tat8ments can arise from fraud or error and are considered material if, individually or in the aggregate, they Could reasonably be expected to inlluence the economlc decisions of u$ers taken on the basis of tha$e financial ststements. The extent to which our procedures are capable of detèctlng irregularities, includlng fraud is dotallod below.. Irregularitios. induding fraud. are Instances of nonw¢omplIan￿ with laws and regulations. We d&sign procedurés In line %Mth our responslblllties, outlined above. to detect material misststsm8nts in respect of irregularities, including fraud. However, it is the primary responsibilty ol management, with the oversight of those c*arged govèrnan￿. to ensure that the entity's operations are ¢onductéd In accordance Nmth the provisions of laws and règulatlons and foT the prevention and detection of fraud. In Identifying and assessing risks of material misstaternent In respect of Irregularil'e8, including fraud, V•P have.. obtainwj an und8rstsndlng of the nature of the industry and sèctor, induding the legal and regulatory tramowork that the company cperates In and how the company is complying y￿th th818gal and regulatory framowork: and ir*quiTed of management, and th088 charged wbth govemance, about their oym Identification and 8ssessment of the risks of irregularibes, Including any knovm actual. suspected or alleged in8tanc88 of fraud. As a result of these procedures we considw the most Signifi￿nt laws and regulations that have a direct impact on the finan¢tal statoments are the Charftles SORP (FRS 102) 'Accounting and Reporting by Charities.. Ststement of Recommendèd Practicè applicable to charities preparing their accounts in accordance with the Finanaal Reporting Stsndard applic3bl8 in the UK and Republic of Irdand (FRS 102) (effective 1 January 2019}'. Financial Reportin9 Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republlc of Irgland,. the Companles Ad 2006 (and related legislalionl, the Charities Act 2011 land related legisl*lon) and regulation$ relating to the Émployment and payment of staff including, but not Ilmttèd to, the Employment Rigtts Act 1996, the Natienal Mlnlmum Wage Act 1998 and thè Penslons Act 2008. Wè pertomed audit proceduras to deted noTreompIlan￿S vthich may have a material impact on the financlal statements, which includ8d revleving the financlal statement dt3dosures and samplp t8Sting of monthly payroll re￿rdS for the calculation of gross wages and payroll taxes. We identified the greatest risk of material impact on the finan¢i81 statements from irregularities, including fraud. to be the timlng of recognition of grant and contract income, and the allocati¢)n by management of costs to individual restrlcted nds. Our audit procedures to respond to these risks in¢luded, tesling of a sample of grant and contract income against the tems of the funding agreements and the requlrement of th9 Chariues SORP {FRS 102), sample testing on the posting of joumals and revitiwing accountEng estimatss for biases. Because of the inherent Ilmitation8 of an aud1( thoro is a risk that will not d9tsct all Irregularities, Including those leading to a materlal misststsment In the financial 8tstsments or non-complianc8 wth regulatlon. Thls risk increases the more that compliance with a law or rngulalion is removed from the events and transaction8 reflectsd in the financial statements, as y￿ ¥￿11 b818ss likely to become aware of Instsn￿8 of non-compliance. The rfsk is also greater rogardlng irregularrtles occurring duo to fraud rather than èrnr. as fraud involves Intentional concgalmont, forgery, collusion, omlssion or mi8repr8sentaUon. A further description of our rnspon31bllltles for the audit of the financial statements is located on the Flnancial Reporbng Council's website at ww.frc.org.ukJauditor¥responsibilities. This desrJiption forms p8rt of cur Report of the Independent Auditors. Page 8 Report of the Independent Auditorn to the Members of Assoclallon for Phy8lcal Education Use of our report This report is made solely to the charitable company's members. as a body, in accordance Viith Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable ccmnpanws members those matters we are required to state to them in an auditors, Teport and for no other PUTpose. To the fulle* exrtent pemiitted by law. vk do not accepl or assume responsibility to anyone other Ihan the chaiitabl8 company and the charitable company's members as a body, for our audit worft, for this report or for the opinions have fomied. Melissa Joan Godwin ACA ACCA (Senior Statutory Auditor) for and on behalf of Rithards Sandy Audii SeNces Limitsd {Statutory Auditor) Thomeloe House 25 Barboume Road Worcestsr WR11RU Dats: ....lÉ...ii.,.LS.: Page 9 A•$o¢latlon for ph￿l¢al Edu¢atlon Statomont of Financlal A¢llvlllo8 for the Year Ended 318t March 2025 2026 Total fund8 2024 Total funds Unrestricted fvnds Restricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 4.000 4,000 10.000 Charltsblo a¢tlvlti Charitable activitie$ 535.65£ 635,656 557,998 Inveskn8nt Income 17,049 17,049 7.217 Total 652,705 4.000 556,706 575.215 EXPENDITURE ON Charltable actlvltles Charitable actiwties 742,798 4,000 746,798 766.840 NEf INCOMEI{EXPENDITURE) 1190.093) (190,093) {191.625) RECONCIUATION OF FUNDS Total fvnds brought forward 405.011 676 405.687 597.312 TOTAL FUNDS CARRIED FORWARD 214918 676 215,694 405.687 The notes fomi part of these financial ststemonts Page 10 A88oclatlon for Physlcal Edu¢atlon Balanc• Sheet 31st March 2025 2025 Totsl funds 2024 Total funds Unr8stricted fvnds Restricted fvnds Notes FIXED ASSETS T8ngible assets Investments 15 16 5,411 5,411 5.563 5.412 5,412 5.564 CURRENT ASSETS Debtors Investments Cash at bank 17 18 49,178 251,246 229,642 49,178 251,246 230,318 50.907 255,000 373,827 676 530,066 676 630,742 679,734 CREDrroRS Amounts falling duè b%lthln one year 19 {320.560) (320,680) (279,611) NEf CURRENT ASSErs 209.606 676 210,182 400.123 TOTAL ￿￿ETs LESS CURRENT LIABILrriES 214.918 676 215.594 405.687 NEf ASSETS 214.918 676 215,594 405.687 FUNDS Unrestrici8d funds Resln"cted funds 21 214.918 676 405,011 678 TOTAL FUNDS 215,594 405,687 These financial $t8tements have been prepargd in accordance the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorlsod for issue on 13th Novemter 2025 and were signed on its b8half by: Mr Micha81 Stevenson- Trustee The note8 fo￿ part of these finanaal statements Pag8 11 Assoclation for Phpl¢al Edueatlon Cash Flow Statsment for the Year Ended 31•t Ma￿h 2025 2026 2024 Notes Cash flo￿ from oporatlng acllvhle• Cash generated from operations (161.310) (107.532) Net cash used in operating acti￿tieS (161,310} (107,532> Cash flow8 from Invosting a¢tlvlllo8 Purchase oftangible fixed assets Cash paid into fixed tÉmi deposit bonds Maturity of fixed tenn deposit bonds Interest received {3,002) (251.246) 255.000 17,049 (4,047) (255.000} 151.606 7.217 Net cash provided byl(used in) investing activities 17.801 (100,224> Change In cash and ¢a8h equlvalents In the reportlng poriod Cash and cash equlvalonts at tho bgglnnlng of tho rnportlng p•rlod 1143,609) (207.756) 373.827 581,583 Cash and cash èqulval•nts at th• ond of tho reportlng perlod 230,318 373,827 The notes fom part of these financi81 ststsments Page 12 A8soclatlon for Phy8l¢al Education Notss to the Cash Flow Statsmont for tho Year Ended 318t March 2025 RECONCILIATION OF NEf EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2026 2024 Net exponditurè for the reporting perlod (a8 per the Statoment of Flnan¢ial Activltles AdJu8tmont8 for. Depreciation charges Interest receivod Dècrèase in debtors Increa$el{decreasè} in creditors (190,093) 1191.6251 3,164 (17,049) 1,729 40,949 2.244 17.217) 122,162 (33,096} Net ¢a$h usod In opèratlon8 (161.310) (107,532) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net ¢a$h Cash at bank and in hand 373,827 (143,509) 230,318 373,827 (143,509) 230,318 Llquld I￿9ure•S Deposlts included in ¢ash Currènt ass8t invesknents 266,000 (3,764) 251,246 255,000 13,764) 251,246 Total 628,827 (147,263) 481.664 The notes form part of these ffin8ncial statements Pagg 13 Association for Physlcal Edu¢atlon Nots8 to the Flnan¢lal Stat•monts r the Yoar Ended 318t Mar¢h 2025 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitsble 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". Statsment of Recommended Practi￿ applicable to ¢harities preparing their accounts in accordance Trmlh the Finanual Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019),. Financial Reporting Standard 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The finanrial statements h8ve been prepared under the historical cost Gonvention. wilh the exception of investrnents which are included at market value. PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS The financial statements contsin information about Association for Physical Education as an individual ¢ompany and do not contain consolidated financial infomation as the parent of a group. The charity is exempt under Section 399{2A) of the Companies Act 2006 and under Section 13913) of the Charities Act 2011 from the requirements to prepare consolidated financial statements. GOING CONCERN These financial statements have been prepared on a going concern basis, as the trustses believe that no material uncertaintles regarding going concem exist In making thi5 assessment, the trustees halp considered the level of funds held and the 8xp8cted level of income and expenditure for a period not less than 12 months from the dats that these financ4al statements have been authorised. The trustses recognise Ihat successive deficits have been made in the prfor few financial years. However the charity has made steps to redu¢e total staff costs through a resbiJcture of the team, and move to onlin8 publication rather than printed manuals. INCOME All in¢omé Is recognised in the St8tèmant of Financ4al Actiwlles On￿ the charity ha8 entitlement to the fund5. It is pmbabla that the incomè will b8 recelved and th* amount can be measured reliably. Inc￿Me from grants Is recognised in thè pericAY in vthich the Charity is entiU9d to receipt and the amount can be mea5ur8d with reasonablè c8rtainty. Income from grants is only deferrèd vthen the charity has to fulfi5 condltions not yet met before becoming entiled to it or where the donor has spe¢ifièd that tho income 1$ to be expended in 8 fijture period. Subscription incorne is recognised on a stralght line basis over the period of the subscription. Inmme from th& provision of courses and other commercial services are recognised on deli￿ of tho60 seNcgs. Inc￿Me from advertising is recognised in line with the provision of suth adv9rtising $6Nce$. Royatties income is recognised in line with the peritx15 for v*hi(* suth income relates. EXPENDITURE Liabilities are recognised as e>penditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it 13 probable that a transfer of e¢onomic benefits wll be required in settlement and the amount of the obligation can be measured reliably. E>penditure is accounted for on an accruals basis and has been classified under headings that 8ggregats all cost related to the category. Where costs cannot be directly attributed to particular headings they have been 811ocated to activitie$ on a basis consistent with the use of resourrx. TANGIBLE FIXED ASSETS Depreciation 18 provided at the foll0v￿ng annual rates in order to wite off each asset over its estimatsd useful Offic* equipment Computer equipment The charfty has set a Cgpitalisation Ilmit of £1.000, such that itèms below this limit ar8 nomally e>pensas through the ststement of financlal acti1￿ti@S ralher than being capitali$ed. 25•k on Gost 25°/o on cost FIXED ASSET INVESTMENTS Pag¢ 14 continued... Asgoclatlon for Physical Educatlon Nots8 to tho Flnanclal Stat•monts - eontlnuod fortho Yoar End￿ 31st March 2026 ACCOUNTING POLICIES - eontlnuèd TANGIBLE FIXED A88ETS Investsnents in subsidiaries are measured at cost, le$$ any provisions for impaiment. TAXATION The charity is exempt from corporation tsx on its charit8ble acti*thies. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable obl6￿1ve$ at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restricttons arise when $peciffied by the donor orNthèn funds are raised for particular restrScted purposes. Further eyplanalion ofthe nature and purpose of each fund is included in tho notes to the financial 8tatsments. OPERATING LEASE COMMITMENTS Rentsls paid under operatin9 leases are charg8d to the Statsment of Financial Activities on a straight line besis over th• period of the lease. PENSION COSTS The Charitable ￿rnpanY operates a defined contribution penslon scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Flnancial Adivitias in the peri¢)d to vthich they relate. DONATED SERVICES Donated rental facilities are induded as both donation income and as e>pendiiure, provided tho value of the gift can be measured reliably. Wher8 the value of the gift cannot bè measured Teliably, no amounts aro induded. The contribution of unpaid general voluntsers are not recognised on the basis that st is impradc81 to measure Teliably the fair value of donated goods. FINANCIAL INSTRUMENTS The charity has elected to apply thg provisions of Section 11, Basic Finan¢ial Instrumonts, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial Instruments. Financial in$truments are recognised when the charity becomes party to contrathial provisions of the instrument Financial assgts are offset with th6 net amounts pr8s8nted in the accounts wthere there is a legally enforceabte right to set off the recc*Jnised amounts and there 1$ an intention to settle on a net b8sis or to realise thè asset and settle the liability 8imultsneously. Baslc fln•neial asset• Basic financial assets, ￿1¢h include trade and othèr receivables Ènd cash and bank balances, are initialty méasured at transaction price inc1￿1ng transaction costs and are subsequently ￿[rIed at amortised cost using the effertive Interest method unless the arrangement constiiutès a ffinancing transaction, wher8 the transaction is measured atthe prosent value ofthe future receipts discounted at a market rate of intsr8St Ca8h at bank and In hnd Cash at bank and in hand includes cash and short-temi highly liquid investments viilh a short maturity of 3 month or less from the date of aquisition or opening of the deposit or simllar accounL Current a8•rt inveslmonts Current asset investrnents includes cash equivalents on deposit with a maturity of moro than 3 month, but less than one year, from the date ol acquisition or opening ofthe deposit or simllar accounts. Bas1¢ flnanelal Ilabllltlo Basic financlal liabilities, including trade and other payablès, are iniiially recognised at transadion prtce unlèss the arrangemènt constttutes a financlng trans8Ction. ￿ere the debt instrument is measured at the present value of future receipts. discounted at a market rats of intsrest. Debt inslruments aré subsequently earrled at amortised wst. uslng the effectlve interest rats method. Tradè payablos arg obligations to pay for goods or services that have been acquired in thg ordinary ¢ourse of the opefdtions from suppliers. A¢¢ounts payabl8 are dassified as current liabiliiios Sf payment Is due within one year or less. If no( they are presented as non4urrent liabilities. Trade payab￿8 are recognised inltlally at transaction. Page 15 continued... Agsoclatlon for Phyaleol Educatlon Notss to the Flnan¢lal Statwnents - Contlnuod for tho Year Endèd 31st March 2025 CRITICAL ACCOUNTING JUDGEMENTS AND SOURCES OF ESTIMATION UNCERTAINTY Estimates and judgements are continually evaluated and are based on historical experienty and olhar factors. including g>pectations of fijture events that are believéd to be reasonable under the Circumstan￿$. Crltl¢al arnas ofjudgemènt The allocation of staff costs bets•￿en indimdual unrèstricted and restricted funds is basèd on the estimated split of staff time tor each Indiwdual employee of the chaiity beiwèon such fvnds. DONATIONS AND LEGACIES 2025 2024 Donations 4,000 10,000 INVESTMENT INCOME 2026 2024 Bank interest 17.049 7,217 INCOME FROM CHARITABLE ACTIVftlES 2025 Charitsble activities 2024 Total 8Ctivities Subscriptions Royaliies Advertising Training courses and conferences other contract income 342,406 55,664 17,798 119,131 767 338.245 64.970 17.992 114,266 22.526 535,666 557.998 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7) Support osts {$ee note 8) Tota18 Charitable activitles 262,271 494,527 746.798 DIRECT COSTS OF CHARrrABLE ACTMTIE8 2026 2024 Training courses and confernnces Project and Contract work cost Travel Phy$ical Education Matter¥ publlcation costs Physical Education and Sport Pedagogy publlcation costs General advgrtising 8Ctiwties Conferences and other events 92,485 42,198 9,900 46,767 49,299 8,222 4,400 109,020 46,166 14,458 53,872 30,437 3,909 14,514 252.271 272,376 Psge 16 continued... As8oelallon for Phpleal Edueatlon Notss to th• Finanelal Statemént8 - continuèd for thg Year Ended 31¥t Ma￿h 2025 SUPPORT COSTS Governance costs Management Totals Charitable adiMtie$ 460,374 34,163 494.527 Support costs, included in the above, ara as follows: MANAGEMENT 2025 Charitable activilie5 2024 activities Wages Social s8curity Pensions Photocopier rental costs Rent Premise expenses Insuranco Office running costs Stsff travel Bank charges Health & safety and other tèchnical advisers Irrecoverable VAT Deweciation 264,315 20.556 18.864 3.683 12,640 9.514 27,696 28,3S3 11,271 1866 36.894 20,680 3,154 269,597 22,254 21.780 3.779 11.299 4.708 27.926 27.012 11,824 2,817 30,722 24971 2.244 480,374 460,933 GOVERNANCE COSTS 2026 Charitable activities 2024 Total activities Auditors, remuneration Tru5t88 meeting costs Governan￿ offi￿r fees Legal and professional fees 8.130 5,712 15,496 4815 7.360 5,027 16,781 4,373 34.163 33.531 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingllcrediting): 2025 2024 Depreciation - owned assets Hire of plant and machinery Other operating leases 3,154 3,683 12.640 2,244 3.779 11,299 Page 17 continued... A¥$o¢latlon for Phy8lrAI Edu¢atlon Notes to tha Flnanclal Statsments - eontlnuod for the Y•ar Endod 31st Ma￿h 2025 10. AUDITORS, REMUNERATION 2025 2024 Curvgnt year audltorn Audit of the financial statements Audit of the financial statements- overl(under) on last years accru81 8.750 (620) 8.820 8.130 8,820 Prfor year auditar• Audit of the financial statements Audit of the financial statements - overl(under) on last years accrual {1.470) {1,470) Total audltorn. rnmunorallon 8,130 7.350 11. TRUSTEES. REMUNERATION AND BENEFrrs There were no trustee8' remuneration or other b8nefits for the year ended 31$t March 2025 nor for the year ended 31st March 2024. TRUSTEES, EXPENSES During the year 9 trustees were relmbursed travgl expenses totslling £3,558 12024 - 10 trusteés were r￿mbU[S8d travel expenses totalling £3,184). 12. STAFF COSTS 2025 2024 Wages and $8laries Social security costs Other pénsion costs 264.316 20,556 11864 269,597 22,254 21.780 303,735 313,631 Pension costs rolate to defined contribution schemès only. The average monthty number of employees during the year vrds as follows.. 2025 2024 No emFloyees were paid In excess of£60,000 durfng the year. Koy managoment pernonnel romun•ratlon• The key management personn81 of the Charity comprisos the Chi8f Executive Officor, the Membèrshlp Manager and the Finance Officer. Total rnmunerations {indudlng employers N.1. and ponsion contrlbutions) totslled £155,62512024- £156,201). P8ge 18 Continued... A8so¢latlon for Physlcal Education Nots8 to tho Flnaneial Statsments - Continu forth¢ Yéar Ended 318t March 2025 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNITIES Unrestricted fvnds Restricted funds Tot81 funds INCOME AND ENDOWMENTS FROM Donations and legacies 10,000 10.000 Charltable activltio$ Charitable actimties 557,998 557.998 Investrnent income 7,217 7,217 Total 565.215 10,000 575,215 EXPENDITURE ON Charltabl? actlvitlo8 Charitable aGtiMtie5 688.153 78,687 766,840 NET INCOMEI(EXPENDITURE (122.938) (68.687) (191.625) RECONCIUATION OF FUNDS Total funds brought fo￿ard 527.949 69,363 597,312 TOTAL FUNDS CARRIED FORWARD 405,011 678 405,687 14. DONATED SERVICES During ihe prewous year, the University ofworcester provided the tharity office space and related seNices ftee of charge. No valuè has been induded in tho financial stateménts to reflect this donatlon of seNce$. on the basis the value of these senrices cannot be reliably detennined. 15. TANGIBLE FIXED AS8ET8 Office equipment Ccffiputer equipment Totals COST At 1st April 2024 Addition8 3,790 32,653 3,002 36,343 3.002 At 31st M8reh 2025 3,790 35,555 39,345 DEPRECIATION At 1st April 2024 Charge for year 3.008 27,772 2,860 30,780 3.154 At 31st March 2025 3,302 30,632 33,934 NET BOOK VALUE At 31st March 2025 4,923 5rt11 At 31st March 2024 782 4,781 5.563 Page 19 continued... Assoelatlon for Phy8le¥l Educatlon Note# to thè Flnanclal Statsments - ¢ontlnuad for tho Yoar Endod 31st March 2025 16. FIXED ASSET INVESTMEKrs Shares in group undertakings MARKET VALUE At 1st April 2024 and 31st March 2025 NET BOOK VALUE At 31st March 2025 At 31st March 2024 The companvs investrfients 8t the balance sheet date In the share capital of comp8nles indude thp followlng: alPE Llmltod Registered offic8'. 1 Elgar Business Centra. Moseley Road, Hallow. Worcester, WR2 6NJ Natur8 of business.. Domant Class of share.. Ordinary holding 100 2025 2024 Aggregate capital and reserves AFPE Limited was struck off on 8th July 2025. 17. DEBTORS: AMOUNTS FALLING DUE biirrHIN ONE YEAR 2026 2024 Trade debtors other debto A¢¢Tued income Prepayments 37,522 3.026 2.688 6.043 14,692 3,025 19.107 14,083 49,178 So,￿7 18. CURREKf ASSET INVE8TMENTS 2026 2024 Cash equivatents on deposit 251,246 255,OLXI Page 20 continued... As8o¢latlon for Physlcal Edu¢allon Nots8 to the Flnanelal SLit•m•nts - conllnued for the Year Ended 31$t March 2025 19. CREDrroR8: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2026 2024 Trade creditors Social security and other taxes VAT Other credltors Accsued expenses Deferred income 44,416 5.122 13,619 2.179 10.254 244.970 42.312 6.298 14.162 2.480 23,T18 190.581 320.560 279,611 D•ferrgd Income Deferred income at the year end consist of. 2025 2024 Membership subscriptions Advertising income Royalties Annual conference fees Other income 228,230 12,990 3,750 174,460 12,371 3.750 2.124 2.090 244,970 190.581 All deferred income at the end of last year was released to the statement of financial activitres during the current finanaa year. LEASING AGREEMENTS Minimum le8se payments under nonw¢an￿1labl8 operating leases fall due as follows: 2026 2024 Within one year Betsveen one and five years 16,202 26,200 15,448 13,402 41,402 28,850 21. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unr•8trfeted fund$ General fvnd 406.011 1190,093) 214.918 Restrlctsd fund• Gèrald Murray 676 676 TOTAL FUND8 406.687 (190,0931 216.694 Page 21 continued... Association for Physlcal Education Notè8 to tho Flnanclal Statements - contlnuéd for tho Year Ended 31st Mareh 2025 21. MOVEMENT IN FUNDS - Contlnu Net movernent in funds, induded in the above are as follows: Incoming resources Resources eypended Movement in funds Unrestrfctsd funds Gener81 fund 552,705 1742.798) {190,093) Ro¥tri¢tod funds Gerald Murray 4000 14000) TOTAL FUNDS 666,705 (746,798) (190.093) Comparatlve8 for mov•m•nt In fund• Net movement in funds At 31.3.24 At 1.4.23 Unreslrfcted funds General fund 527.949 (122.938) 405.011 Re8trlctsd funds Gerald Murray Sport England - Primary PE Sport England - Secondary Teacher Training 676 39.313 676 (39,313) 29,374 (29,374) 69,363 (68,687) 676 TOTAL FUNDS 597.312 (191,625) 405.687 Compardtive net movoment in funds, included in the above a￿ as follows". Incoming rgsourc8$ Resources eynded Movement in fvnds Unmtrl¢tsd funds General fijnd 585,215 (688,153) (122.938) Restrlctsd funds Sport EnglarKI- Primary PE Sport England- Secondary Teacher Training Concussion resources for sthools (39.313) {39,313) (29,374) {10.000) (29.374) 10.CK)O 10.000 {78.687) (68.887) TOTAL FUNDS 575,215 (766.840) (191.625) RESTRICTED FUNDS Gerald Murray Relates to a historical bequest to bg used to reward the professional when colleagues have made a significant contribution. Sport England - P•lmary PE Relates to grants received from Sport England to b9 used to assist with providing PE activities to primary school Children. Page 22 rA)ntinued... A88oclatlon for Phy81cal Education Notes to the Flnan¢lal Stal•m•nts- wntlnued ft•r the Year Ended 318t March 2026 21. MOVEMENT IN FUNDS- contlnuod Sport England . Sèeondary Teacher Trainlng Relates to grants réceived from Sport England to be used to proMd8 a secondary teacher training programme. Concu88lon Resource8 Relatss to a grant awarded for concussion resource$ for schools. RELATEO PARTY DISCLOSURES There were no relatsd p8ty transactions for the yèar ended 31st March 2025. 23. FRC EfHICAL STANDARD . PROVISIONS AVAILABLE FOR SMALL ENTITIE8 In common wlth many other businesses of our siz8 and natu￿ we use our auditors to 8$S1St wth the prnparation ofthe financial statements. Page 23 Assoclatlon for Physlcal Edu¢atlon Dètalled Statemènt of Flnanclal Aetivltl for tho Year Endod 31st March 2025 2025 2024 INCOME AND ENDOWMENTS Donallon8 and lègacles Donations 4,000 10.000 Inve•lJnenl Ineomo Bank interest 17.1)49 7,217 Charitsblo actlvltl¢• SubsLYiptions Royatlies Advertising Training courses and confewnces Other contract income 342,406 66,654 17,798 119,131 767 338,245 64,970 17,992 114.266 22,525 535.668 557.998 Totsl Incomlng mourcos 556.706 575.215 EXPENDrruRE Charhabh a¢tlvltle• Training ojursgs and conferences Project and contract work Cost Travel Physlcal Education Matters publi¢ation costs Physical Education and Sport Pedagogy publication costs General advertlsing activities Conferences and othér events 92.486 42,188 9,900 45,767 109,020 46.166 14.458 53.872 49,299 8,222 4.400 30.437 3,909 14,514 262.271 272,376 Support coots Managemènt Wages Social se¢writy Pensions Photocopier rental costs Rent Premlse expenses Insuran¢¢ Offth running Msts Staff tra￿1 Bank charges Health & safety and other technical aomse Irrecoverable VAT Depreciation 264.315 20,656 18,864 3.683 12,640 9,514 27,695 28,353 11,271 2,855 36.894 20,580 3,164 269,597 22,254 21,780 3,779 11,299 4,708 27,926 27,012 11,824 2,817 30,722 24,971 2,244 460,374 460.933 Governan¢g costs Audltors. remun9ration Trustee meèting costs Govemance officer fe Carried forward 8,130 5,712 15,496 29,338 7.350 5.027 16.781 29.158 This page does not fomi part of the statutory fin8ncl81 statements Page 24 As•o¢lation for Phy•l¢al Education Delallod Ststgment of Flnancial Actlvlti for the Year Ended 31•t Mareh 2026 2025 2024 Governance costs Brought forward Legal and profe88ional fees 29,338 4,815 29,158 4,373 34,153 33,531 Total resources expended 746.798 766,840 Nèt expondlture (190,093) (191.625) This page does not fonn part of th8 Statutory financial ststsm8nts Page 25