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2023-03-31-accounts

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SPORTING EQUALS

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

31 MARCH 2023

Company No: 05853520

Charity No: 1119365

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SPORTING EQUALS

CONTENTS

Legal and administrative information 1
Directors’ and Trustees’ report 2-18
Auditor’s report 19-22
Statement of financial activities 23
Balance sheet 24
Statement of cash flows 25
Notes to the financial statements 26 - 40

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LEGAL AND ADMINISTRATIVE INFORMATION

Registered Charity Name Sporting Equals
Company number 05853520
Charity number 1119365
Trustees and directors:
Densign White MBE
Beverley Mason
Naz Deen
Lorraine Deschamps MBE
Craig Edmondson
Urvasi Naidoo
Yun Hui Teoh
Barbara Thompson
Vanessa Wallace
Chief Executive Arundeep KangOBE
Registered Office Office ICG. 18
Coventry University Technology Park
Puma Way
Coventry
CV1 2TT
Bankers HSBC
46 Old Church Road
Chingford
London
E4 8DB
Statutory Auditor Edwards Pearson & White (Audit) Limited,
Chartered Certified Accountants & statutory auditor,
8 Jury Street,
Warwick,
CV34 4EW

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DIRECTORS’ AND TRUSTEES’ REPORT Year ended 31 March 2023

The directors and trustees have pleasure in presenting their report and financial statements for the year ended 31 March 2023.

About Sporting Equals

Sporting Equals is a national charity championing race equality and promoting ethnic diversity in sport and physical activity across the UK. We are experts in engaging ethnically diverse communities in this sector and advising sports organisations on race equality and community engagement.

Mission

To use sport and physical activity as vehicles to create healthier, fairer and stronger communities.

We inform, influence and inspire in order to create a society in which ethnically diverse communities can participate in, and influence, all levels of sport and physical activity from grassroots to elite.

Objectives

Sporting Equals has three key objectives:

These objectives will have been completed when ethnically diverse communities:

How this is achieved

Values

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Sporting Equals has a unique reach into 500 ethnically diverse organisations that includes sports clubs, faith centres and community groups. We work closely with suppliers and facilitators of sport to give ethnically diverse people opportunities to be active and compete. We are the go-to organisation for National Governing Bodies (NGBs) and sports organisations from community brokerage to Board vacancy services. We have strong relationships with the media (mainstream, ethnic and faith) and a strong social media presence to achieve significant reach and influence. We have a proven track record and strong empathy with our ambassadors, appointed as role models to inspire and influence from grassroots to elite champions.

We have a successful record of creating pioneering projects including the Sporting Equals Race Equality Charter, the Sporting Equals Awards, (formerly known as the British Ethnic Diversity Sports Awards), Making Equals (a Community Cohesion project), LeaderBoard (the first ever leadership programme for ethnic diversity in sports Boards and the Sport Monitoring Advisory Panel (SMAP) that monitors the work of sports organisations in sport participation of black communities in the UK. The first annual Race Representation Index (RRI) Survey was distributed in October 2021, with the findings publicly shared in March 2022. The RRI compares and grades ethnically diverse representation to national Census figures in the senior roles and elite sporting positions in Sport England funded NGBs. It is now entering its third year. In 2022 the Race Discrimination Support Service launched, providing pro-bono legal support for victims of racial discrimination.

Delivering for the public benefit

Sporting Equals’ key public benefit duty is exemplified in the wider ambition of creating a society in which ethnically diverse communities can participate and influence in all levels of sport and physical activity - creating healthier, fairer and stronger communities through sport and physical activity.

Our work fits around the following three policy areas:

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Sporting Equals reviews its mission, objectives and activities each year. We analyse our research and insight data, reviewing the results of our work, and the benefits these have brought to ethnically diverse people in the sport and physical activity sector. We do this through regular consultation with over 500 of our associate members community organisations via surveys and focus groups. Our key cities where we have established strong projects over the year, include Coventry, Wolverhampton, Manchester, Bradford, London, Leicester, Glasgow, Slough and Birmingham. With regards to public benefit, Sporting Equals’ Trustees acknowledge their duty in accordance with the UK Charities Act 2011 and follow the Charity Commission’s guidance on the operation of this public benefit.

The issue in numbers

Communities from ethnically diverse backgrounds are least active which leads to further health inequalities. They are also underrepresented in many talent pathways and in the workforce. Sporting Equals focuses on fostering systemic change within sports organisations as well as increasing / widening diversity within the sector. Acting not only as a baseline for National Governing Bodies, our Race Representation Index research provides an important insight into the state of the sector. Our pulse surveys keep us close to our communities reporting back on the challenges they face.

Key statistics include:

By conducting research with ethnically diverse communities, we have been able to influence and advocate for change. Through media and social media, we have increased the knowledge of the sport sector and ethnically diverse communities to make a change.

Research Strategy 2020-2023

This Research Strategy provides a framework to guide our insight and research work contributes to the implementation of Sporting Equals 2020-23 Business Strategy. The strategy builds on our knowledge and evidence gaps identified by previous research, strategies of partners, and a review of our core projects and activities. The strategy was updated in July 2022 to reflect the changes resulting from the start of Sport England’s Uniting the Movement 10-year vision, the continued development of the annual Race Representation Index, and the learning from projects.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Key Research and Monitoring, Evaluation and Learning (MEL) of programmes undertaken during 2022/23 includes;

Race Representation Index 2022-2023

The RRI publicly reports grades for ethnic representation for four main criteria based on a comparison with national ethnic representation. It is based on a scorecard template developed to grade hiring practices in professional and college sport based in the USA. This is the first survey of its kind in the UK sport sector to aim to obtain this level of ethnicity data. In 2021 we invited 52 NGBs to take part. In 2022 we invited 64 as we included UK wide NGBs that did not have specific England, Scotland, Wales or Northern Ireland bodies. Despite this increase we saw the engagement rise from 75% to 86%. We believe this is testament to the value the RRI has for the sector and the commitment to transparency and accountability.

The average overall grade for NGBs participating in the RRI was D – the full report is here. We are aware of the limitations of the first iteration of the survey and have taken on feedback from respondents. This will be reflected in our data collection strategy for the following year.

Sweaty Betty Foundation Girls Powered: Greater Manchester

The final report for the Girls Powered (phase 2) project was submitted to the Sweaty Betty Foundation at the end of January 2023. It provides an overview of the project and its indicators of success, the milestones since the project was launched through to project delivery and continuing the next phase (January 2023-December 2024). It also provides an overview of the recruitment process and community organisations, session and attendance figures, and learning points from the baseline survey, the participants, the community organisations, and working with the Sweaty Betty Foundation. The report also included testimonials and reflections from the girls. The project took place in five locations across Manchester. 165 girls from ethnically diverse backgrounds participated. Two workshops based on girls empowerment and leaders’ steering group and sustainability were delivered by Sporting Equals staff members. Two of the CICs have been nominated for Sports Awards for Community Projects achievements and one of those is the ‘face’ of Bolton On the Move and is working in close collaboration with local authorities.

Peloton Back2Active

Back2Active supported by Peloton was focused on supporting London-based associate members returning to participation and delivery post covid lockdown. Working with delivery partners within London who truly represent and reflect the communities they serve, showcasing the variety of sports and physical activity sessions and challenges the stereotype often faced by those from ethnically diverse communities whilst celebrating culture, religion and community.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

A mixture of qualitative and quantitative data collection methods were used, namely session attendance, testimonials and case studies. Data will be analysed and presented to Peloton.

Nike Future Female Leaders

The Nike Future Female Leaders (FFL) programme aimed to increase the participation of ethnically diverse women in sport and physical activity. For the recruitment of candidates, we had a targeted comms campaign and used our social media platforms to advertise the programme as well as sharing information with our associate member network. Candidates were then shortlisted based on the “Future Females Expression of Interest” application details.

A workbook was created, designed and printed to aid the FFL cohort in tracking their progress and provide some space for reflection and capture information as they develop through the training. It will be used to help capture data on the true experiences and stories of the women which can then be shared as a good point of reference for the women. Furthermore, eight touchpoints / modules were delivered both in-person and online to provide training to the participants.

The impact is summarised below and the full report can be accessed here.

Comic Relief – Active Minds, Healthy Bodies

The aim of the project was to create and deliver training workshops for volunteers to enable them to act as mentors and / or advocates for older people using the Fit as a Fiddle model which highlights the barriers and cultural sensitivities of working with older people from ethnically diverse communities.

The project entailed:

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

A report was given to Comic Relief using their framework.

Marketing and Communications

Our Marketing and Communications work for 2022-23 centred on supporting our advocacy and influencing activity in combatting racism as well as showcasing talent and good practice when it comes to sport and physical activity and ethnically diverse communities. Key elements include the following:

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

We have seen significant improvements in our social media and newsletter performance. This is attributed to the following key actions:

This has resulted in (as of March 2023) 60% year on year growth for LinkedIn, 24% growth on Instagram and 8% on Twitter. We hope to start to use YouTube more actively in the near future. Our Newsletter performance sees an average open rate of 46% and an average click through rate of 26%.

Website

The website proposals were presented to the CEO in March 2023 with a forecast sign-off of June 2023, completion September / October 2023. The new website is needed as the old one is built in SQL Server and therefore very inflexible. We are unable to adjust the navigation tree autonomously. We cannot apply alt tags to images and updating things like the footer and headers is out of our control, impacting search engine optimisation. We are unable to embed video on the current website. The job board is not up to the standards expected by modern users. The website is not responsive in design and cannot be optimised for tablet or smartphone. Consequently, images become heavily pixelated. As a consequence of the above points the user experience on the website is very negative. A modern website using a more suitable content management system, with autonomous management by Sporting Equals, will enable the charity to communicate it’s values, purpose and methods better.

Community Empowerment and Brokerage

Over the last year Sporting Equals has increased our Associate Member network to 544 organisations, a 36% increase. Combined these organisations have over 300,000 service users. Sporting Equals works closely with these Associate Members in gaining funding, providing information and development through workshops and training sessions.

The Associate Member network enables the charity to stay informed on what is occurring at ground level of sport and physical activity delivery. It enables Sporting Equals to understand best practice and develop effective community engagement and participation models. These feed into local and national policy recommendations.

The LeaderBoard programme forms part of this empowerment process – giving ethnically diverse people from these community organisations the skills and experience to influence change at Board room level.

This year Sporting Equals developed a Gold Member offering. This is for our more strategic community partners and has been designed to be a more formal relationship where both sides have an obligation to support each other's strategic needs on a case-by-case basis. We have 14 Gold Members.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

PROJECTS AND EVENTS ACROSS 2022/23 INCLUDED THE FOLLOWING:

Equally Active

The Equally Active project was completed between July and September 2022. Reports were produced by Quali Projects (Independent Evaluator) describing the purpose, methodology and the impact Sporting Equals has had across the 10 Equally Active sites.

England Hockey

A pilot project with England Hockey project started in 2020 to help engage ethnically diverse people with the support of three hockey clubs; Waltham Forest Hockey Club, Plashet Hockey Club and Tower Hamlets Hockey Club. We worked with the three clubs to create delivery plans in 2020, however due to the pandemic, delivery was delayed. The project was wrapped up in February 2023.

Youth LeaderBoard Phase 1 (funded by Zwift)

The Zwift Youth LeaderBoard Programme has now been delivered. This programme has supported young people from ethnically diverse communities to develop leadership and employability skills. Recent touchpoints include:

A Zwift end of project impact report document and slide deck has been created with some key findings including; 78% of respondents saying they felt more able to influence diversity in their work in sport organisations.

Key illustrations of the success of the programme include participants, Rachel Owen progressing into an Equality, Diversity and Inclusion role with Lancashire County FA and Serena Mahandru having taken up a sports governance role advocating for social change. Uzair Nayab is now more confident in conducting himself during interviews.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Sporting Equals Charter

The Sporting Equals Charter supports organisations in the sport and physical activity sector to become more inclusive for ethnically diverse communities. It is a framework that will allow these oganisations to be more representative and reflective of the UK population.

This year saw 44 organisations becomes signatories including the LTA, Swim England, Golf Foundation, London Marathon Events, England Lacrosse and the British Equestrian Federation. Each of these organisations is developing specific action plans to enable greater race equality.

During 2023 we will continue to develop this offer to drive improved value and traction.

Spirit of 2012 - Breaking Boundaries Project

Breaking Boundaries was funded by Spirit of 2012 and delivered in partnership with Youth Sport Trust.

It socially connected young people, their families, and communities together through regular cricket or multi/sport engagement. The project was delivered in 5 cities: Bradford, Birmingham, London (Barking & Dagenham), Manchester and Slough. The project was supported by a coordinator in each city who connected with wider community organisations working local to support delivery.

Grant Distribution

Sporting Equals has worked alongside Comic Relief / National Emergencies Trust (NET) and Sport England to deliver key support to community organisations within the sport and physical activity sector to allocate and distribute emergency funding because of the impact of Covid-19.

Comic Relief / NET

We have supported 84 organisations and distributed £432,000 of Comic Relief / NET emergency relief funding. The purpose of this funding was to support and sustain organisations to continue services and enable communities to engage with sport and physical activity opportunities. Our monitoring and evaluation found that approximately 12,000 individuals benefited from this funding.

We completed the monitoring and evaluation with Comic Relief and fed into further evaluation which is now being considered for future projects.

Sport England Tackling Inequalities Fund (Phase 2 and 3)

At the end of Phase 3 of this project we distributed over £410,000 of funding with the Sport England Tackling Inequalities Fund. The purpose of this funding is to support grassroots organisations to provide sport and physical activity opportunities for local communities. We have since been successful with our application to continue into the Together Fund phase of this project including completing all the assurance activity.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Girls Powered (Sweaty Betty Foundation)

Phase 2 of the Girls Powered project was successfully completed in December 2022 and a final impact evaluation report has been produced.

Following an updated proposal Sporting Equals has received a new partnership contract with the Sweaty Betty Foundation for Phase 3 of the project which commenced in January 2023. Phase 3 will have a stronger focus on capacity building and long-term sustainability.

The aims of Phase 3 Girls Powered will still be targeting the least active girls of ethnically diverse backgrounds to engage in physical activity. Seven groups will be part of the project, three existing from Phase 1 and 4 new groups, where there will be an element of mentoring from the older groups, as well as development opportunities for both girls and CIC leaders. The overarching outcome of the project is to produce a model which can be packaged and replicated by any organisation who would want to work with ethnically diverse females and engage them into physical activity opportunities.

Back2Active (Peloton)

Following the ‘Back2Active’ project that commenced in September 2022, we then secured a new partnership with Peloton, that included a grant donation of £45,000 plus Peloton assets. This included part funding fit for operational costing and use of peloton assets in the form of access to studios, access to bikes, access to merchandise, live call outs promoting the charity and social media brand association. These assets will be used to help us build on the work from the Back2Active campaign. The use of assets was managed in line with our Associate Member strategy to add value and support our wider work.

Future Female Leaders (Nike)

The Future Female Leaders Programme is funded through NIKE and empowers women aged 18 upwards from ethnically diverse communities in and around London to overcome social, educational, and economic barriers to diversify and create more ethnically diverse coaches and leaders in the sport and physical activity sector whilst also increasing physical activity levels in local communities. It is a London-based programme working directly with 35 women.

The programme kicked-off on the 29[th] of October. To date, four touchpoints out of eight have been delivered, two online and two face-to face, including one practical workshop. Most of the women have started their coaching qualification and the next step will be for them to deliver a minimum of 10 sessions of group exercise in their respective communities. The next four touch points will be a mix of online and face to face workshops, culminating with a celebratory event by May. Key contributors include Anita Asante, Manisha Tailor, Michelle Moore, and Hope Powell.

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Comic Relief – Active Minds, Healthy Bodies

Funding has been secured for the Comic Relief Active Minds, Healthy Bodies project which involves working with seven delivery partners in London to deliver Physical Activity and Mental Wellbeing activities for ethnically diverse older people within the local community. The project was onboarded in September and a project plan put in place. At the end of the reporting period the training has been delivered and the project is in action.

Between November 2022 and January 2023 the following key actions took place:

Weekly delivery for all organisations started week commencing 13[th] February 2023. A baseline survey was created and completed by those older people joining the programme. Session forms have been developed to collect appropriate data on a weekly basis.

Celebrating South Asians in Football (funded by Sky)

The Sky partnership focused on underrepresentation in, and promoting of, South Asian women and girls in football. The key element to the project was an exhibition. The exhibition highlighted four athletes: Kira Rai, Simran Jhamat, Mariam Mahmood and Millie Chandarana as well as presenting a timeline of South Asian involvement in football.

The exhibit was then taken on a tour of our Associate Members including Indian Gymkhana, Singh Sabah Slough and Sporting Khalsa as well as having a presence at Stamford Bridge and Wembley Stadium. It was seen by approximately 5,700 people.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Financial Review 2022/23

Summary

During the year 2022/2023, Sporting Equals received income of £1,280,908 an increase of £297,375 (30%) from 2021/22. Sport England is the largest source of funding. Sporting Equals has continued to work towards reducing reliance on this funding by continuing to increase funds from other areas, including growing the amount of unrestricted funding received. Sporting Equals continues to diversify its income sources and going forward the management team intend to keep this momentum in order to diversify further.

Resources expended during the year 2022/23 amounted to £1,053,040 an increase of £330,069 on the previous year. As with previous years, 100% of expenditure was spent on charitable activities.

Reserves

The Trustees regularly review the Charity’s need for reserves we have a reserves policy in line with the guidance issued by the Charity Commission. The policy is to always hold 6-12 months of operating costs.

The general reserve shows a balance of £604,381 at the end of the year: equivalent to just over eight months of current operating costs.

Investment Policy

The Trustees are empowered by the Memorandum and Articles of Association to invest the Charity’s funds as they see fit. The investment policy requires that surplus funds, not required for working capital purposes, should be invested to provide maximum return at minimum risk to the organisation. All funds that are surplus from time to time are invested on a short- or medium-term fixed interest basis. To minimise the risk to funds, investments are deposited with many banking institutions who are regulated by the Financial Services Authority and are members of the Financial Services Compensation Scheme. The Charity’s investment policy is reviewed on an annual basis.

Governance

Code for Sports Governance

Sporting Equals is committed to high standards of governance and across 2022/2023 constantly reviewed our governance to ensure that we continued to meet Tier 3 of the Code for Sports Governance (which we were proud to have achieved formal compliance against in August 2018). Maintaining compliance is ongoing as part of our good governance.

In December 2021 the new Code for Sports Governance was published by Sport England / UK Sport and Sporting Equals is working on aligning to the revised code by March 2024

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Legal structure and governing document

Sporting Equals is registered as a charity in England and Wales (1119365) and is registered with Companies House as a Private Limited Company by guarantee (05853520). Sporting Equals therefore does not have a share capital, the liability of members is limited, and details of their guarantee are given in the notes to the financial statements. Sporting Equals is governed by the rules and regulations within its Memorandum and Articles of Association. Sporting Equals Memorandum of Association states that the charity’s objects are:

“To promote equality and diversity in sport for the public benefit in the United Kingdom by

Sporting Equals’ Trustees (Directors) and other volunteers

Sporting Equals is governed by a Board of Trustees (Directors). As Sporting Equals is both a registered charity and private company limited by guarantee, Sporting Equals’ Trustees are also company Directors and therefore beholden to both charity and company law.

The Board of Trustees meets formally at least four times a year (together with the Chief Executive and other senior managers as required) as well as specific sub committees which are detailed below. The Board of Trustees is responsible for the strategic direction and governance of the Charity. The Board of Trustees delegates responsibility for the delivery of the business plan and provision of services to the Chief Executive.

Sporting Equals’ Board of Trustees currently includes nine Trustees (with the Articles of Association allows a maximum of twelve Trustees). Trustees are elected for a three-year term and may not serve more than three consecutive terms of three years (with a break of at least four years required before standing for re-election). Sporting Equals’ Board of Trustees has four sub- committees where trustees with specific skills and experience can focus on priority governance areas in more detail (Finance, Audit, HR & Remunerations). Due to the small size of the Board, the Board currently acts as the Nomination Committee.

Sporting Equals’ Trustees are volunteers who bring valued experience to Sporting Equals from a range of backgrounds. Sporting Equals’ Trustees do not receive remuneration for their time or services as Trustees and only directly incurred expenses are reimbursed (with any expenses reclaimed as set out in note 6 to the financial statements). Sporting Equals has a Trustee Conflict of Interest policy and register, where all Trustees declare any conflict of interest. New Trustees undergo induction training to brief them on their legal obligations under both charity and company law, the content of the Memorandum and Articles of Association, the charity’s structure and decision-making process, the charity’s recent performance (including the most recent Annual Report and Accounts) and the charity’s strategy (including the charity’s current business plan).

Appropriate indemnity insurance cover is held for the Trustees of the Charity (in line with Sporting Equals’ Articles of Association).Sporting Equals also continues to engage special advisers who, on a voluntary basis, provide additional advice to the board and officers on matters such as research, business development and income diversification.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2022

Sporting Equals' Trustees (and appointment dates)

Densign White MBE - Chair (23 April 2012) Beverley Mason – Vice Chair, Senior Independent Director (27 January 2015) Naz Deen (20 January 2021) Lorraine Deschamps MBE (15 February 2016) Craig Edmondson (27 February 2019) Urvasi Naidoo (10 January 2019) Yun Hui Teoh (20 January 2021) Barbara Thompson (20 January 2021) Vanessa Wallace (20 January 2021)

Sporting Equals Staff

Key management personnel

Following are the key management of the charity during the year end of March 2023:

Risk Management

The Board of Trustees identifies and reviews risks at every Board meeting using a formal risk register - to ensure that key risks facing the organisation are identified and appropriate actions are put in place to mitigate those risks. As part of the Charity’s risk management process, the Trustees acknowledge their responsibility for the Charity’s system of internal control and reviewing its effectiveness.

Risk is also a regular item on the Senior Management Team meeting agendas, with risks identified and escalated up to the Board of Trustees as appropriate.

We have detailed below the key areas of risk that have been identified and our approach to mitigation.

Funding & Fundraising - risk that Sporting Equals does not generate enough income to cover its commitments

We have continued to actively seek out new funding sources whilst maintaining our existing contractual obligations making strides in broadening our income generation portfolio. This includes exploring various avenues to bring in revenue and collaborating closely with our current partners to ensure a diverse and robust financial foundation. It's crucial that we strike a balance between these efforts and remain mindful of potential risks.

In April 2020, in response to the global pandemic, our Board of Trustees took a proactive step to fortify our financial security. They made the strategic decision to increase our maximum allowable reserves, expanding the coverage from 3 – 6 months of operating costs to a range of 6 – 12 months. This forward-thinking move has been instrumental in providing us with a substantial cushion against unforeseen circumstances, enabling us to navigate uncertainties with confidence and stability. We have remained steadfast in upholding this strategic approach.

Staffing – risk that Sporting Equals has inadequate staffing resources to deliver its contractual commitments

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Sporting Equals has focused on retention and staff development, with staff having regular 1:1s, performance reviews, in-house training and development in place. Following a role mapping and a skills matrix exercise in 2022 Sporting Equals changed its structure to add in additional staff to areas such as Marketing and Communications, Social Impact / Project Delivery and Research and Insight. 2022/23 was a considerable growth period for Sporting Equals staffing.

In February 2022, recognising the potential challenge of accommodating a growing staff base, a hybrid model was put into place with an emphasis on supporting the needs of the business and staff wellbeing. Staff benefit from the ability to work from home a majority of the time while still having office space to use when needed and in person relationship building and support from their colleagues and line managers.

Data Protection – risk that Sporting Equals or its partners inadvertently disclose personal data

A Data Protection & Records Management Policy is in place, alongside associated protocols.

Reviews of IT security as well as GDPR protocols are completed annually. Sporting Equals has cloud-based systems, which enables managerial oversight and allowed for minimal disruption with the move to working from home during the pandemic.

IT security and Data Protection to reduce the risk of inadvertent breaches by individuals' forms part of the induction for new staff.

As part of our governance and operations continual review we also regularly receive and review updates from the Information Commissioner's Office to identify any areas of good practice / breaches from other organisations that we can learn from.

Governance – risk that the governance arrangements of Sporting Equals do not meet best practice

Corporate governance structures and systems are in place to meet all legal requirements, together with governance requirements of funders.

Compliance with Tier 3 requirements of the Code of Governance for Sport, which was achieved in 2017, is regularly reviewed. In December 2021 the new Code for Sports Governance was published by Sport England / UK Sport and Sporting Equals is working on aligning to the revised code by March 2024.

Sporting Equals also regularly engages with the Sports Governance Academy as part of continual review, sharing good practice and development.

Safeguarding – risk that a major incident takes place at a Sporting Equals event or funded activity

Safeguarding remains a constant area of focus, both in terms of Sporting Equals internal delivery and the provision of any delivery partners.

Sporting Equals has a risk-based approach to checking and challenging our safeguarding policy and practice to ensure the well-being of all. All staff take part in an annual review of the safeguarding policy and are involved in regularly reviewing any potential risks to well-being with regards to any of the work of Sporting Equals and putting mitigation in place.

In 2022 Sporting Equals reviewed and updated its safeguarding policies and processes to better reflect its holistic and pro-active culture on safeguarding.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Plans for future period

In 2023/24 we will continue to work on two key fronts using a top down and bottom-up approach. We will continue our work on influence and advocacy especially across England and Scotland. Working with the national governing bodies of sport and other sports organisations. Key work here will include the Race Representation Index, the LeaderBoard programme and our research and insight work with community partners. We will also reintroduce our Awards formally known as the British Ethnic Diversity Sports Awards (BEDSAs). We will rename them the Sporting Equals Awards to give the event a stronger meaning. To tackle further the underrepresentation in the workforce and talent pathways we will work closer with sports organisations using the Race Representation Index and survey to support gaps

Our bottom-up approach will ensure we continue to work with our corporate partners including Peloton and Sky Sports to empower communities and inspire the next generation. We will also empower communities to help them become healthier through sport or physical activity.

We will conduct a campaign on banter to ensure the sport sector understands the issues and how to support victims.

Key ambitions for 2023 / 2024 include:

This year we will increase our influence and advocacy work with governing bodies of sports. We will also support this work with key research and insight with surveys aimed at sports bodies and community groups. We will also deliver projects on the ground to ensure those in deprived areas have an opportunity to play sport at their chosen level. The overall ambitions for the year include:

Please go to www.sportingequals.org.uk for further details of the work of Sporting Equals.

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DIRECTORS’ AND TRUSTEES’ REPORT (continued) Year ended 31 March 2023

Statement of trustees’ responsibilities

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

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

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

In so far as the directors are aware:

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 29 January 2024 and signed on behalf of the board of trustees by:

D White Chair

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Independent Auditor's Report to the Members of Sporting Equals Year ended 31 March 2023

Opinion

We have audited the financial statements of Sporting Equals (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Other Matter

Comparative information in the financial statements is derived from the company’s prior period financial statements which were not audited.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

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Independent Auditor's Report to the Members of Sporting Equals Year ended 31 March 2023

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

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

Responsibilities of trustees

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

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

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Independent Auditor's Report to the Members of Sporting Equals Year ended 31 March 2023

Auditor's responsibilities for the audit of the financial statements

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

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

Our assessment focused on key laws and regulations the charity has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement.These key laws and regulations included but were not limited to compliance with the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice, Charities SORP and relevant tax legislation.

We are not responsible for preventing irregularities. Our approach to detect irregularity included, but was not limited to, the following:

  1. An understanding of the legal and regulatory framework applicable to the charity and how the charity is complying. 2. Obtaining an understanding of the charity's policies and procedures and how the charity has complied with these, through discussions and sample testing. 3. An understanding of the charity's risk assessment process, including the risk of fraud. 4. Performing audit work over the risk of management override of controls, including testing of journal entries for appropriateness.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities from fraud are inherently more difficult to detect than those arising from error.

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 statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Also the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations.

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

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Independent Auditor's Report to the Members of Sporting Equals Year ended 31 March 2023

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

Use of our report

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

David Pearson (Senior Statutory Auditor)

For and on behalf of Edwards Pearson & White (Audit) Limited Chartered Certified Accountants & statutory auditor 8 Jury Street Warwick CV34 4EW

29 January 2024

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STATEMENT OF FINANCIAL ACTIVITIES (Charity No.1119365) (Incorporating the income and expenditure account) for the year ended 31 March 2023

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
Notes £ £ £ £
Incoming resources
Donations 3 68,616 - 68,616 17,315
Charitable activities 3 52,281 1,155,611 1,207,892 966,188
Investment Income 3 4,400 - 4,400 30
_ _ __ ______
Total incoming resources 3 125,297 1,155,611 1,280,908 983,533
_ _ __ ______
Expenditure on:
Charitable activities 145,430 907,610 1,053,040 722,970
_ _ __ ______
Total resources expended 4 145,430 907,610 1,053,040 722,970
_ _ __ ______
Net incoming/ (outgoing) resources
before transfers being net income/ (20,133) 248,001 227,868 260,563
(expenditure) for the year
Transfers between funds - - - -
Net movement in funds (20,133) 248,001 227,868 260,563
Reconciliation of funds
Total funds brought forward 624,514 44,111
668,625		 408,062
_ _ _ _
Total funds carried forward 604,381 292,112 896,493 668,625

The statement of financial activities includes all gains and losses in the year.

All incoming resources and resources expended derive from continuing activities.

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BALANCE SHEET BALANCE SHEET
AS AT 31 MARCH 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible fixed assets 7 9,223 10,190
Current assets
Debtors 8 191,645 297,568
Cash at bank and in hand 948,601 610,014
__ _
1,140,246 907,582
Creditors:amounts falling
due within one year 9 (252,976) (249,147)
________ _
Net current assets 887,270 658,435
_ _
Net assets 896,493 668,625
Represented by:
Unrestricted funds 10 591,381 611,514
Designated funds 10 13,000 13,000
Restricted funds 10 292,112 44,111
__
_
Total funds 896,493 668,625

The trustees acknowledge their responsibilities for

(a)Ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)preparing the financial statements, which give a true and fair view of the state of affairs of the charity as at the end of each financial year, and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial states were approved the board of trustees and authorised for issue on 29[th] January 2024 and were signed on behalf of the board by:

D White Trustee

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STATEMENT OF CASH FLOWS AS AT 31 MARCH 2023

Note
Cash flow from Operating activities
12
Net cash flow from Operating activities
Cash flow from investing activities
Office equipment
Interest received:
- Deposit
Net cash flow from Investing activities
Net Increase / (decrease) in cash and cash equivalents
Cash and cash equivalents at 1st April 2022
Cash and cash equivalents at 31st March 2023
Cash and cash equivalents consist of:
- Cash at bank and in hand		 2023
£
338,528
_

338,528
_______

(4,341)
4,400
_

59
_______

338,587
610,014
_

948,601
948,601
_______
 2022
£
(17,959)
_
(17,959)
_
(13,452)
30
_
(13,422)
_
(31,381)
641,395
_
610,014
610,014
_

See note 12 for reconciliation of net income / (expenditure) to net cash flow from operating activities and analysis of changes in net debt.

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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

1. Summary of significant accounting policies

(a) General information and basis of preparation

Sporting Equals is a charitable company in the United Kingdom Incorporated and registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities to actively promote greater involvement in sport and physical activity for disadvantaged communities particularly the black and minority ethnic population. Sporting Equals is a national partner of Sport England and advisors to the Department of Culture Media and Sport.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The charitable company has taken advantage of the option provided in SORP (FRS102) to use headings in the Statement of Financial Activity that are applicable to its operations rather than reporting on an activity basis.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have consistently applied to all years presented unless otherwise stated.

The charity adopted SORP (FRS 102) in the current year and no adjustments to previously reported figures were required.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which will not designated for other purposes.

Designated funds comprise unrestricted funds that have set aside by the trustees for purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have met, the amount can measure reliably and it is certain that the income will be received:

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NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2023

For donations to be recognized the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The charity receives government grants in respect of funding from Sport England. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as surplus funds on bank deposit. Interest income is recognised using the effective interest method.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises and other overheads have been allocated on a percentage use of resources basis.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 4.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2023

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

IT equipment 33% straight-line basis

(g) Debtors and creditors receivable/ payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease.

(i) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(j) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(k) Going concern

The financial statements have been prepared on a going concern basis, as the trustees has determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern. COVID-19 is not expected to have a significant impact on the entity. It expects that COVID-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.

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NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2023

(l) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had to be made in preparing these financial statements.

(m) Financial instruments

The company only has basic financial instruments.

Financial assets: Financial assets comprise items such as cash at bank and in hand, trade and other debtors. These are initially recorded at cost on the date they originate. The company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit or loss.

Financial liabilities: Financial liabilities comprise items such as corporation and other taxes, bank and bank loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable. The company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit or loss.

(n) Defined contribution plans

Contributions to defined contribution plans are recognized as an expense in the period in which the related service is provided. Prepaid contributions are recognized as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settle wholly within 12 months of the end of the reporting date in which the employees render the service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognized as an expenses in the period in which is arises.

(o) Deferred income

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

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NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2023

2. Comparative information – Statement of Financial Activities 2022

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
Notes £ £ £ £
Incoming resources
Donations 3 17,315 - 17,315 9,399
Charitable activities 3 387,289 578,899 966,188 691,859
Investments – interest received 3 30 - 30 181
______ ______ ______ ______
Total incoming resources 3 404,634 578,899 983,533 701,439
______ ______ ______ ______
Expenditure on:
Charitable activities 114,335 608,635 722,970 626,688
______ ______ ______ ______
Total resources expended 4 114,335 608,635 722,970 626,688
______ ______ ______ ______
Net incoming/ (outgoing) resources
before transfers being net income/ 290,299 (29,736) 260,563 74,751
(expenditure) for the year
Transfers between funds - - - -
Net movement in funds 290,299 (29,736) 260,563 74,751
Reconciliation of funds
Total funds brought forward 364,393 43,669 408,062 333,311
______ ______ ______ _
Total funds carried forward 654,692 13,933 668,625 408,062

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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

3. Analysis of Income 2023

Unrestricted
Restricted
£
£
Charitable activities
Sport England grant
-
650,000
LMCT
-
9,000
LTA
-
-
Spirit
-
35,025
ZWIFT
18,776
-
Sweaty Betty
-
94,803
Active Minds – CR
-
41,708
Awards-Sp England
-
70,000
Comic Relief – Org. Development
-
135,000
Nike
-
97,150
Together Funds
-
22,925
Other
33,505
-
Total from charitable activities
52,281
1,155,611
Donations
68,616
-
Investment income
4,400
-
Total
125,297
1,155,611		 2023
Total
£
650,000
9,000
-
35,025
18,776
94,803
41,708
70,000
135,000
97,150
22,925
33,505
1,207,892
68,616
4,400
1,280,908		 2022
Total
£
400,000
47,250
37,200
81,494
-
50,155
-
-
-
-
-
350,089
966,188
17,315
30
983,533

Of the total income received in 2023 £1,280,908 (2022 - £983,533), £125,297 (2022 - £404,634) related to unrestricted income and £1,155,611 (2022-£578,899) related to restricted income.

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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

3a. Analysis of Income 2022 - Comparatives

Unrestricted
Restricted
£
£
Charitable activities
Sport England grant
-
400,000
LMCT
-
47,250
LTA
37,200
-
Spirit
-
81,494
EFDS / GOGA
-
-
Sweaty Betty
-
50,155
BEDSA
-
-
Other
350,089
-
Total from charitable activities
387,289
578,899
Donations
17,315
-
Investment income– Interest received
30
-
Total
404,634
578,899
 2022
Total
£
400,000
47,250
37,200
81,494
-
50,155
-
350,089
966,188
17,315
30
983,533		 2021
Total
£
403,000
50,667
17,050
78,653
-
-
-
142,489
691,859
9,399
181
701,439

Of the total income received in 2022 £983,533 (2021 - £701,439), £404,634 (2021 - £169,199) related to unrestricted income and £578,899 (2021-£532,320) related to restricted income.

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SPORTING EQUALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 March 2023

4. Total resources expended 2023
 4. Total resources expended 2023
 4. Total resources expended 2023
 Active SENG SPIRIT Sweaty Together LMCT Others
 Total Total
Minds-CR Betty Funds 2023 2022
Direct allocated costs Basis £
Staff costs Direct 17,574 388,370 23,784 31,513 19,258 12,585 140,799 633,883 484,540
Staff welfare Direct - 406 -
-		 - -
83		 489 2,067
Agency staff Direct 150
-		 12,048 4,583 - 3,064 2,593 22,438 35,873
Travel & subsistence Direct 891 23,549 2,141 988 46 932 15,129 43,676 12,038
Staff training & development Direct -
-		 -
-		 - -
-		 - 5,557
Refreshments Direct 104
3,154		 53
-		 - 29 2,090 5,431 1,611
Project expenses Direct - 4,908 -
-		 - 3,149 5,525 13,582 10,424
Bank charges Direct - 20 -
-		 - - 261 281 287
Depreciation Direct - - -
-		 - - 5,308 5,308 8,365
Consultancy costs Direct 1,000 30,026 -
-		 - - 19,414 50,440 50,302
Equipment Direct -
-		 -
-		 - - - - 680
Marketing Comm & Pun; Direct - 49,200 - 900 - 4,426 10,776 65,301 12,619
Legal & Professional Direct 290
113,428		 4,760 8,567 2,064 975 18,264 148,349 46,828
Support costs allocated to activities.
Office expenses % use of resources
-		 3,782 696 1,691 272 83 2,132 8,656 8,294
IT expenses % use of resources
-		 9,918 495 815 120 66 432 11,846 7,503
Insurance % use of resources
-		 8,334 1,269 2,115 630 94 1,815 14,257 8,897
Property costs % use of resources
622		 14,905 2,927 1,137 535 192 8,785 29,103 27,084
______ ______ _ __ _
Total resources expended 20,631 650,000 48,173 52,309 22,925 25,595 233,407 1,053,040 722,970
======
=======		 ======
======		 ====== ====== ======= ======== =======

Of the total expenditure in 2023 £1,053,040 (2022 - £722,970), £145,430 (2022 - £114,335) related to unrestricted funds and £907,610 (202 - £608,635) related to restricted funds.

Page 33

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 March 2023

4a. Total resources expended 2022 - Comparatives

Direct allocated costs
Basis
Staff costs
Direct
Staff welfare
Direct
Agency staff
Direct
Travel & subsistence
Direct
Staff training & development Direct
Refreshments
Direct
Project expenses
Direct
Bank charges
Direct
Depreciation
Direct
Consultancy costs
Direct
Equipment
Direct
Marketing Comm & Pun;
Direct
Legal & Professional
Direct
Support costs allocated to activities
Office expenses
% use of resources
IT expenses
% use of resources
Insurance
% use of resources
Property costs
% use of resources
Total resources expended

 Sport
England
£
296,864

43
-
5,230
100
698
7,720
152
-
18,835

544
9,148
28,620

4,896
5,445
5,962
15,743
400,000
======		 LTA
LMCT
Spirit
Sweaty
Other
2022
2021
Betty
Total
Total
£
£ £
£ £
£
£
21,569
33,987 54,597 30,449
47,074 484,540
430,986
-
- -
- 2,024
2,067 1,274
3,924
13,818
14,251
216 3,665
35,874
37,435
-
39 1,297
118 5,355 12,039
475
-
- - 540
4,917 5,557
795
-
-
46
-
867
1,611
69
-
125
-
- 2,578
10,423
25,036
11
19
25 12 68
287
295
-
-
-
-
8,365
8,365 4,179
1,022
1,258
3,153
403 25,632 50,303
20,375
-
-
-
- 136
680
907
114
966
521 162 1,708 12,619
5,935
1,600
4,364
4,681
1,744
5,818 46,827
47,405
321
744
1,045 382
906
8,294
6,610
134
253
475
185
1,011
7,503
7,163
300
650
828
315
842 8,897 8,806
1,182
2,380
3,150
1,260
3,369 27,084 28,942
__
____
_
30,177
58,603
84,069
35,786 114,335 722,970
626,688
=====
====== ===== ===== ===== ====== =======

Of the total expenditure in 2022 £722,970 (2021 - £626,688), £114,335 (2021 - £101,009) related to unrestricted funds and £608,635 (2021 - £525,679) related to restricted funds.

Page 34

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

5. Net incoming resources for the year

Net incoming resources for the year are stated after charging:
Independent examiner’s fee
Auditor Fee
Depreciation
6.
Employee information
Staff costs
Wages and salaries
Social security costs
Other pension costs

Average number of employees employed during
the year.
Administration		 2023
£
-
6,000
5,308
2023
£
542,367
50,660
23,132
_

616,159
2023
No.
15		 2022
£
1,740
-
7,172
2022
£
421,627
41,043
21,870
_
484,540
2022
No.
11

The number of employees whose annual emoluments were £60,000 or more were:

2023 2022
£ £
£60,000 - £70,000 - -
£70,000 - £80,000 1 1
£80,000 - £90,000 - -
£90,000 - £100,000 - -
£100,000 - £110,000 1 1
Above £110,000 - -

Key Management Personnel of the Charity comprise of the Senior Executive team which includes Chief Executive Officer, Director of Development and Director of Projects and Director of Operations & Governance whose total salary and benefits are £232,871 (2022: £239,546). Key management personnel are set out in the directors’ and Trustees’ Report at Page 15.

£1,542.42 was reimbursed for directly incurred travel expenses to three trustees (2022 - £Nil).

Page 35

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

7.
Tangible fixed assets
IT Equipment
£
Cost
At 1 April 2022
27,184
Additional during the year
4,341
__
At 31 March 2023
31,525
Depreciation
At 1 April 2022
16,994
Charge for the year
5,308
At 31 March 2023
22,302
Net book value
At 31 March 2023
9,223
At 31 March 2022
10,190
8.
Debtors
2023
£
Trade debtors
186,742
Other debtors
2,516
_
189,258
8a.
Prepayments
2023
£
Prepayments
2,387

2,387
9.
Creditors: Amounts falling due within one year
2023
£
Trade creditors
39,253
Credit card
5,367
Social security and other taxation
325
Pension payable
3,179
Deferred income
-
Other creditors
139,413
Accruals
65,439
_____

252,976		 Total
£
27,184
4,341
__
31,525
16,994
5,308
22,302
9,223
10,190
2022
£
293,209
1,680
_
294,889
2022
£
2,679

2,679
2022
£
10,064
2,017
-
4,784
38,770
191,772
1,740
____
249,147

Page 36

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

10. Reconciliation of movements in funds 2023

1 April Incoming Outgoing 31 March
2022 resources resources Transfers 2023
£ £ £ £ £
Unrestricted funds 611,514 125,297 (145,430) - 591,381
Designated funds 13,000 - - - 13,000
Restricted funds
Sport England - 650,000 (650,000) - -
Spirit 13,147 35,025 (48,172) - -
Sweaty Betty 14,369 94,803 (52,310) - 56,862
Together Fund - 22,925 (22,925) - -
Active Minds – CR - 41,708 (20,631) - 21,077
Awards-SP England
-		 70,000 - - 70,000
Comic Relief – Org. Develop.
-		 135,000 (3,290) - 131,710
Nike - 97,150 (84,687) - 12,463
LMCT 16,595 9,000 (25,595) - -
44,111 1,155,611 (907,610) - 292,112
Total funds 668,625 1,280,908 (1,053,040) - 896,493

10a. Reconciliation of movements in funds 2022 – Comparatives

1 April Incoming Outgoing 31 March
2021 resources resources Transfers 2022
£ £ £ £ £
Unrestricted funds 351,393 404,634 144,513 - 611,514
Designated funds 13,000 - - - 13,000
Restricted funds
Sport England - 400,000 400,000 - -
Spirit 15,721 81,494 84,068 - 13,147
Sweaty Betty 50,155 35,786 - 14,369
LMCT 27,948 47,250 58,603 - 16,595
43,669 578,899 578,458 - 44,111
Total funds 408,062 983,533 722,970 - 668,625

Page 37

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

Designated funds

The designated fund is a fund the Trustees have agreed to ring-fence to cover any future redundancy costs in the event the charitable company was to cease its operations.

Restricted funds

Sport England provides grant funding for agreed outputs under its national partner programme.

Spirit of 2012 - funds Sporting Equals and Youth Sport Trust as National Delivery partners to deliver the Breaking Boundaries project which uses cricket as a catalyst for social cohesion within five locations in England.

London Marathon Charitable Trust - has provided funding to support a faith centre model supporting communities to become physically active.

Sweaty Betty - has provided funding during 2021 to help support a faith centre model supporting

communities.

Together fund a grant distribution project funded by Sport England - to help the sport and physical activity sector through the coronavirus (Covid-19) crisis. The grants enabled community groups to continue to exist and engage with their communities, supporting people to be engaged and active.

Active Minds, Healthy Bodies - funded by Comic Relief, is a community programme aimed at people aged 55+ to get them engaged in physical activity and reengage in society following the Covid 19 pandemic.

Nike - provided funding to support a project entitled "Future Female Leaders” to support and empower women to gain qualifications and develop their skills and confidence in coaching in a variety of sports. This would help to increase the number of female role models in sport as well as diversifying the coaching workforce in sport.

Comic Relief - provided funding to support Sporting Equals in their growth, development and resilience plan and work with a view to helping the Charity meet its objectives as well as put ourselves in a fit for purpose position to disburse funds on behalf of Comic Relief.

11. Analysis of net assets between funds

General Designated Restricted
funds funds funds Total
£ £ £ £
Fund balances at 31 March 2023 are
represented by:
Tangible fixed assets 9,223 - - 9,223
Current assets
 835,134 13,000 292,112 1,140,246
Current liabilities (252,976) - - (252,976)
_ ______ ______ ______
Total net assets 591,381 13,000 292,112 896,493
====== ====== ====== =======

Page 38

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

11a. Analysis of net assets between funds 2022 - Comparatives

General Designated Restricted
funds funds funds Total
£ £ £ £
Fund balances at 31 March 2022 are
represented by:
Tangible fixed assets 10,190 - - 10,190
Current assets 850,471 13,000 44,111 907,582
Current liabilities (249,147) - - (249,147)
__ ______ ______ ______
Total net assets 611,514 13,000 44,111 668,625
======= ====== ====== ======

12. Reconciliation of net income / (expenditure) to net cash flow from operating activities

2023
£
Net income for the year
227,868
Interest income
(4,400)
Depreciation and impairment of tangible fixed assets
5,308
Decrease / (Increase) in debtors
105,923

Increase / (Decrease) in creditors
3,829

_
Net cash flow from operating activities
338,528
Analysis of change in net debt
1 April
Cash flow
Acquisition
Other non-
2022
and Disposals cash changes
£
£
£
£
__ _
_
___
Cash at bank and in hand 610,014
338,587
-
-		 2022

£
260,563
(30)
7,172
(153,855)
(131,808)
_
(17,959)
31 March
2023
£
______
948,601

12a. Analysis of change in net debt

13. Controlling party

The charitable company is under the control of the Board of Trustees.

14 . Pension contributions

The charity offers all staff the workplace pension scheme.

P age 39

DocuSign Envelope ID: 1A4DA2A3-2B9B-4670-A0BE-4D711F1AB269

SPORTING EQUALS

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

15. Company status

The company is limited by guarantee and does not have any share capital.

Every member of the company undertakes to contribute to the assets of the company in the event of its beings wound up while he is a member or within one year after ceasing to be a member, for payments of the debts and liabilities of the company contracted before he ceased to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves such amount as may be required, not exceeding £1.

16. Limitation of audit liability

auditor limiting the audit's liability to a maximum of £1,500,000 (including interest).

P age 40