OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-09-30-accounts

Company Registration No: 06441426 Charity Registration No: 1123385

CHANCE TO SHINE FOUNDATION LTD

A charitable company limited by guarantee

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

CHANCE TO SHINE FOUNDATION LTD

CONTENTS Page
Legal and administrative information 3
Trustee Directors’ report 4 to 20
Independent auditors’ report 21 to 24
Consolidated statement of financial activities 25
Consolidated balance sheet 26
Cash flow statement 27
Notes to the accounts 28 to 41

Page 2

CHANCE TO SHINE FOUNDATION LTD

LEGAL AND ADMINISTRATIVE INFORMATION - year ended 30 September 2022

Status

The organisation is a charitable company limited by guarantee, incorporated on 30 November 2007.

Governing Document

The company was established under Memorandum and Articles which established the objects and powers of the charitable company as amended by Special Resolution on 29 January 2018.

Trustee Directors:

Sir Donald Brydon (Chair) Dana Abdulkarim Sir Daniel Alexander Martin Darlow Anshuman Jain (resigned 13 August 2022) Sir Mark Harford (appointed 3 October 2022) William Lawes Douglas McAllister Sophie O’Connor Alison Oliver Ebony Rainford-Brent (resigned 31 January 2022) Caspar Rock Kriti Sharma

Chief Executive : Laura Cordingley

Key Management Personnel: Vanessa Greene, Kate Jacques, Ross Jeavons, Steve Peyman, Nicholas Platt

President: Lord King of Lothbury KG GBE FBA Vice-Presidents: Duncan Fearnley, Mark Nicholas, Sir Tim Rice

Honorary Vice-Presidents: Graham Able, Nick Anstee, Adrian Beecroft, Judy Coles, John Dodge, Simon Dyson, Charlotte Edwards CBE, Peter Gale, Garri Jones, Wasim Khan MBE, Tim O’Gorman, Russell Perry, Ebony Rainford-Brent MBE, Michael Reyner, Mike Soper, Oliver Stocken CBE, Luke Swanson

Company registration number: 06441426 Charity registration number: 1123385 Registered Office: The Kia Oval London SE11 5SW Secretary: MSP Corporate Service Limited 27-28 Eastcastle Street London W1W 8DH Auditors: Sayer Vincent LLP Invicta House 108-114 Golden Lane London, EC1Y 0TL

Page 3

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

The Trustee Directors present the annual report and financial statements of the Company for the year ended 30 September 2022.

1) OBJECTIVES AND ACTIVITIES

In planning the objectives and activities for the period, the Trustee Directors considered the Charity Commission’s guidance on public benefit, in particular the guidance regarding public benefit from the advancement of education and of amateur sport.

Chance to Shine’s (CTS) mission is for all young people to have the opportunity to play, learn and develop through cricket. We want them to learn a love of the game and in doing so develop their wider wellbeing.

We do this by providing opportunities through our two core programmes: Chance to Shine Schools and Chance to Shine Street.

We focus on four outcomes for children; Physical Wellbeing, Mental Wellbeing, Personal Development and Social Wellbeing.

Our programmes are designed to help children and schools, concentrating on the outcomes above. Six key components sit at the heart of our work; INSPIRE, PLAY, LEARN & DEVELOP, TEACH & TRAIN, COMPETE, PROGRESS.

To understand our impact, in addition to the outcomes for children and young people listed above we measure programme outputs; who takes part in our programmes, how they engage and whether cricket is being sustained in schools, clubs and communities.

In order to deliver our programmes and achieve these outcomes for children and young people we work in close partnership with the England and Wales Cricket Board (ECB), all 39 County Cricket Boards (CCBs) in England and Wales and Cricket Scotland and broader charities such as Street Games. In doing so, we provide professional cricket coaching, teacher training, competition and links to community settings in state primary and secondary schools.

Our community cricket programme, CTS Street, brings the sport to thousands more young people in disadvantaged areas. Delivered through CCBs and StreetGames, it uses the game to increase aspiration, develop life skills, promote social cohesion and provides additional support for areas such as crime prevention in some of the most disadvantaged areas of the country.

Across Schools and Street, the role of delivery partners is to develop and deliver activities that best meet local needs while meeting Chance to Shine Foundation Ltd’s charitable objectives. CTS provides grant funding to CCBs and other delivery partners to support the delivery of their programmes.

Our programmes have been designed to develop sustainable cricket cultures in schools and communities. Structured programmes of coaching, competition and teacher development are delivered by qualified coaches who are recruited and managed by CCBs.

Page 4

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

2) ACHIEVEMENTS AND PERFORMANCE

Across the year Chance to Shine delivered to over 570,000 children and young people in Schools and Street projects. This is the first full year of delivery since 2018/19, with delivery levels returning to pre-pandemic.

DELIVERING AGAINST OUR OBJECTIVES

From September 2021 to August 2022, 570,235 children and young people took part in a Chance to Shine programme in 3,885 primary and special schools, 204 secondary schools as well as 197 Street projects.

Primary Schools

539,583 children took part in Chance to Shine programmes in 3,885 primary and special schools.

Here is a breakdown of delivery against our two offers delivered in Primary Schools:

Total Whole
School
Programme		 Cricket
Engagement
Day
Schools *2,183 *1,930
Coaching hours 54,475 12,377
Children 252,783 310,302
Boys 129,104 (51%) 155,596 (50%
Girls 123,679 (49%) 154,706 (50%)

Whole School Programme (WSP): half-term of cricket aimed at building teacher confidence and whole child development with a clear pathway to community sport.

Cricket Engagement Day (ED) : a single day in schools aimed at connecting to community programmes and inducting new schools for future involvement with a Whole School Programme.

Within the primary programme in terms of planning we reached 109.7% of schools for Whole School Programmes and 73.1 % for Cricket Engagement Days. Priority was given to the delivery of WSPs, as we know WSP return the greatest impact on the lives of children and the school.

Inter Schools Competition is also a key component of the Primary Schools Programme. This academic year saw the first uninterrupted and full year of the new ECB ‘Dynamos Schools’ programme which replaced the previous ‘Kwik Cricket’ format. Across all CTS funded Inter-School Competitions (which included Skills Festivals & Dynamos Schools), 82,014 children took part. A further 14,368 children took part in events which were captured on the CTS Portal, but funded directly using ECB’s investment.

Coach Training

In October 2021, CTS launched an updated set of Primary Schools resources which were developed in partnership with Youth Sports Trust (YST). The resources covered most of the component parts of a CTS programme – Inspire, Play, Lead, Compete & Progress. The new programme introduced a new Life Skills focussed Play curriculum and an ‘I/We/You’ approach to supporting the development of teacher confidence.

In support of the new resources, CTS also partnered with YST to deliver a Coach Training programme. This programme involved both the training of a CTS Tutor Team as well as supporting new coaches through a two-day course. The initial tutor training was attended by 33 tutors. A further 138 new coaches received support from the CTS & YST tutor team.

Page 5

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

A one day refresher course for existing trained coaches was also piloted, with delivery reaching 52 coaches.

Girls Secondary School Programme

Now in its fourth year this programme aims to develop leadership skills and introduce cricket to new participants. The 21-22 academic year was the first since COVID restrictions (such as class bubbles and limited external visitors) were removed. However, the ability to deliver the full programme as intended was still limited by the significant challenges faced in secondary schools – with a number of schools not able to fully apply the leadership principles. Despite this we managed to reach 204 schools and 23,987 girls offering a combination of leadership sessions, tasters, and competition. This included some new partner CCBs delivering the programme for the first time.

Chance to Compete

For the first time since COVID regulations allowed, CTS returned to a full delivery programme for Chance to Compete, including regional progressions for Girls u13s and u15s. With a new structure for women’s & girls’ cricket, relationships were developed with eight ECB Regional Development Centres of which 7 supported events. CTS also piloted a Year 7 mixed competition, linked as a simple progression from Dynamos Schools. The results were positive.

Across all CCB level events, which were predominantly Girls u13 & u15 (funded through the Girls Secondary Leadership Programme) a total of 10,624 participants took part in competition.

Girls Regional Finals

Year 7 Mixed County Finals

Cricket Scotland

In 2021/22 Cricket Scotland have delivered CTS’s Whole School Programme in 27 schools in Aberdeenshire and Edinburgh, whilst also creating new out of school opportunities via three Street Projects; Fraserburgh and Peterhead in Aberdeenshire, and Westerhales in Edinburgh.

Looking ahead to 2022/23 - the programme in Scotland intends to deliver 29 Whole School Programmes (18 in Aberdeenshire & 11 in Edinburgh) and to offer out of school opportunities for participants in the form of the Street Projects and other community offers.

Hospital Schools

Chance to Shine deliver cricket sessions for children aged 5 to 18 in four London hospital schools: The Children’s Hospital at Great Ormond Street, Evelina Children’s Hospital at St Thomas’s, The Teenage Cancer Unit at The Royal Marsden Hospital and The Lavender Walk Adolescent Mental Health Unit at Chelsea and Westminster Hospital.

Page 6

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

Coaches from our delivery partner, Capital Kids Cricket, run a 36-week cricket themed programme during school hours. It aims to support children’s wellbeing by having fun, playing with others and being physically active to the best of their ability.

National Cricket Week (NCW)

In 2022, NCW took place 27th June - 1st July. The week was themed around the principle that ‘cricket is a game for everyone’ – an important topic given the challenges faced by the game in recent times. The week was therefore aimed at showcasing the fantastic diversity across all of CTS’s programmes. This included showcase events such as:

MCC Open Day

In July 2022, Chance to Shine and MCC welcomed 20 schools and 500 children from around the country to Lord’s for a celebratory open day. A mass assembly led by Mark Nicholas highlighted everything cricket has to offer. The children had the opportunity to play matches on the outfield, explore the history of the ground with an expert guided tour and work on their skills in the indoor centre.

Street Programme

From Sept 21 – Aug 2022, 6,665 young people were engaged in the programme – 81% of young people were from ethnically diverse communities and 65% were living in the most deprived areas of England. Priority this year was given to returning delivery to pre-pandemic levels (200 projects), and it was a huge achievement to reach that milestone.

As we recovered from the pandemic, we took this opportunity to review all projects to ensure we’re delivering in the areas where young people have the least opportunities available to them, most notable in areas of highest deprivation.

Through a successful Sport England application earlier this year, and with ECB investing in Street, we are on track to grow our programme in line with our 2024 ambition of 300 projects across England, Wales and Scotland.

A major consideration in growing Street has been the locations where we are delivering, with more insight being used to influence and prioritise. To do this, we’ve used data on deprivation, diversity, and inactivity to focus on giving those with the least the most opportunity.

This growth in Street aligns closely with the additional investment made by ECB in Primary Schools. For many of the new schools being selected in more deprived communities, the opportunities to continue to play are limited, therefore a new Street project connected will provide that outlet.

Page 7

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

Identifying more girls only projects has also been prioritised, along with ensuring the diversity of a project is reflective of the community where it’s located. We have also seen a rise in the number of projects engaging specifically with refugees, increasing from 15 to 21 in the next 12 months.

CTS Street competitions returned in 2022. Teams compete at a county level before progressing to Regional Finals. Thirteen regional events took place with 106 teams and 700+ participants taking part.

The regional winners were then invited to our 2022 National Finals at Lord’s and Nottingham University in August. The finals demonstrated a great deal of talent, something which we aim to raise awareness of with partners such as ECB to help such young people progress in the talent system.

Lead your Ship

Our Crime Prevention Programme (Lead your Ship) is a twelve-week secondary school based programme working with young people at risk of exclusion from secondary schools in the West Midlands, London and Bournemouth.

Negative influences can have an adverse effect on young people’s behaviour in educational settings and lower their aspirations. Lead Your Ship is aimed at raising awareness and developing skill sets for young people to navigate safely in today’s inner city youth culture. Twelve pupils from each school attend the Lead Your Ship program which lasts two-hours session.

The first hour is a lesson on topics in the course content followed by the second hour which is a lesson playing Cricket. This interactive programme includes small group discussions, educational activities and personal reflection. The programme is partnership with TSA Sports & Education.

Page 8

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

OUR IMPACT

In 2021/22 we took a variety of approaches to understand the impact of our programmes as well as reflecting on what young people need to feel included when they play cricket. We carried out surveys, focus groups and interviews with 1,110 teachers and 100 parents of Street participants. We surveyed 2,500 children at the beginning and end of CTS programmes to understand their change in attitudes over time. Below is a selection of findings from this research. Full details will be available in our next Impact Report.

CREATING OPPORTUNITIES TO PLAY

CTS has played an important role in creating fun and inclusive opportunities for children to play cricket. We target areas where children have fewer opportunities to play regularly in their community - for example, 40% of primary schools that took part this year have a high proportion of pupils receiving free school meals.

The majority of children surveyed agreed they felt included (91%) and happy (92%) during CTS sessions. Almost all agreed their coach was kind (96%) and fair (92%). Teachers felt the programme was designed with inclusion in mind – activities could be easily adapted for children with a range of skill and needs, coaches focused on a child’s personal best rather than one fixed idea of success.

5% of children surveyed said they didn’t feel included. When asked why, they told us they felt left out by their peers. This reinforces the need for coaches to ensure all children are treating one another with respect during sessions.

PHYSICAL WELLBEING

Sport England’s Active Lives research shows that as well as creating the right opportunity to play, we need to help children enjoy sport and feel confident playing. In schools, almost all teachers surveyed agreed taking part in CTS had supported their pupils’ physical wellbeing (99%) and developed their fundamental movement skills (98%).

PERSONAL, MENTAL AND SOCIAL WELLBEING

When we spoke to parents of young people playing cricket at Street projects, they reflected on how taking part had supported their children to develop themselves. One parent in London commented: “If my son wasn’t doing this, what would he be doing at home now? It just takes one little spark. It’s one of those sports that is a life skill, that teaches friendship and teamwork. I think for some of these kids, it’s almost their only outlet outside of school, making relationships with each other. That’s why I bring my son here, just so he meets other kids.”

In schools, almost all teachers surveyed noted this impact on their pupils’ personal development (97%), mental (95%) and social (99%) wellbeing. Teachers highlighted the importance of teamwork, with one teacher commenting: “It gave children an opportunity to work with each other so that they could feel individual and team success. Many children who were in groups had not worked with each other before so they could experience working with others.”

Page 9

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

COMMUNICATIONS

2021/22 saw continued progress in line with the annual goals of the CTS Communications Strategy:

Effective and Consistent Engagement with Stakeholders

A renewed social strategy in summer 2022 increased post frequency and content creation, leading to additional engagement across the majority of channels.

Within Public Affairs, meetings with MPs took place - aimed at creating CTS advocates in parliament and organising a future game of Street cricket at Westminster.

Positive relationships continue to be honed with the media such as Sky Sports and BBC, leading to repeated broadcast coverage in 2022.

Ensuring people understand Chance to Shine/Changing behaviour where necessary

A ‘how to talk about Chance to Shine’ session was run for CTS staff to improve consistency and quality of messaging. A ‘teachers webinar’ was also held to launch the new CTS play resources, and emphasise cricket’s ability to inspire change in young people.

Demonstrating the importance and success of our work

Extensive media coverage was achieved throughout National Cricket Week, Impact Report launch and Oval test match, including live pieces on Sky Sports, Test Match Special and features in the Guardian and Independent Online. Our new agreement with Sport England was launched with a piece on BBC News at One.

To increase the number of case studies produced on an annual basis, a case study hub has been created on the Portal to the digitise process for story submission.

Diversifying our audiences

CTS activated in person at the Youth Sport Trust conference, including actively promoting new Portal resources.

On social media, the focus on Instagram stories was increased throughout the year in an effort to communicate directly to a younger audience. Relationships were also developed with the Caribbean Cricket, Murali End and Women’s Cricket Chat podcasts, including hosting the first CTS Podcast Street Cricket Tournament. Media pitches have also been targeted to journalists specialising in women’s sport, as well as those with a demonstrable interest in EDI.

Illustrator Harkiran Kalsi contributed to Impact Report design – her work has previously led campaigns highlighting issues around racism and inequality

FUNDRAISING

CTS undertakes fundraising activity to its supporters via fundraising events and dinners, individual giving including appeal letters, email and telephone. In addition, funds are raised from trusts & foundations and corporate partnerships.

Chance to Shine Foundation Ltd is registered with the Fundraising Regulator and adheres to its Code of Fundraising Practice and its associated rulebooks for fundraising activities. Additional guidance and information are sought from the Institute of Fundraising to inform best practice.

Page 10

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

CTS is compliant with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 and will only contact prospective and existing supporters in line with its Privacy Policy which can be viewed in full at www.chancetoshine.org/privacy.

CTS recognises the importance of protecting our vulnerable supporters and follows the guidance issued by the Institute of Fundraising and the Fundraising Regulator on treating donors fairly. CTS supports its staff who encounter supporters to provide high quality customer care, ensuring anyone donating to the charity is in a position to make a free and informed decision.

CTS welcomes feedback on its fundraising activities and has a complaint policy which outlines how the charity will react should a complaint be received regarding its fundraising methods. CTS received no complaints during the year.

During the financial year, Chance to Shine Foundation Ltd received total income of £6.042m. £2.529m of that was funding received from the England and Wales Cricket Board (ECB). £2.029m of this was for the Primary School programme which was reduced from the anticipated £2.5m as a result of carrying forward unspent funding from 2020/21 due to the impact of COVID-19 on our ability to deliver the programme. £0.5m was unrestricted funding and relates to match-funding as a result of private fundraising efforts in during the year.

Sport England gave £0.986m towards the Chance to Shine Street programme.

The remaining £2.528m came from a combination of individuals, corporate donations, sponsorship agreements, fundraising events, trusts and foundations and investment income. This income is in line with our fundraising strategy target set in 2019.

Page 11

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

DIVERSITY

In line with the Code for Sports Governance, CTS continues to place great importance and focus on diversity and inclusion. Our Diversity policy can be found on our website (www.chancetoshine.org/governance), it includes our commitment to diversity targets.

CTS also maintains a Diversity Action Plan (DAP) covering Recruitment, Engagement and Progressing Talent from Within. This plan contains short, medium and long terms goals.

In 2021/22 the charity continued our commitment towards this important piece of work by:

Diversity of participation and equality is of huge importance to Chance to Shine. 51% of all participants are girls and 79% of Chance to Shine Street participants are from ethnically diverse communities. Our programmes aim to support all young people to benefit from cricket.

Page 12

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

3) FINANCIAL REVIEW

The financial statements included with this report consolidate the results of the Company and its wholly-owned trading subsidiary Chance to Shine Enterprises Limited and have been prepared on a going concern basis. A separate statement of financial activities and income and expenditure account is not presented for the Company itself following the exemptions afforded by Section 408 of the Companies Act 2006.

During the year a total of £6.042m was raised from all sources (2020/21: £4.744m). Of this, £0.555m was raised from commercial activities and fundraising events which is a slight decrease on the previous year when £0.600m was raised. Sponsorship income reduced by 67% as a result of two large charity sponsorship agreements coming to an end. It remains a priority to secure replacement sponsors in 2022/23. The drop in sponsorship income was offset by a significant increase in event income due to being able to host in person events following restrictions during the covid pandemic in 2020/21. Therefore, related fundraising trading costs for the year have also increased proportionally to £0.319m compared to £0.186m in 2020/21.

Voluntary income increased from £4.122m in 2020/21 to £5.473m in 2021/22. The ECB donation increased to £2.529m from £1.809m in 2020/21 and includes £0.5m of accrued match funding. The core Primary Schools grant of £2.5m was reduced to £2.029m as a result of carrying forward unspent funding from 2020/21 due to the impact of COVID-19 on our ability to deliver the programme. Sport England funding increased slightly to £0.986m (2020/21: £0.951m). Excluding Sport England and the ECB, other voluntary income for the year remained at a similar level of £1.958m compared to £1.362m in 2020/21.

The organisation’s costs of generating this voluntary income rose slightly from £0.742m in 2020/21 to £0.758m.

Charitable activity costs increased to £4.568m (2020/21: £3.454m) as programme activity was returned to pre-pandemic levels.

Governance costs were £0.049m (2020/21: £0.038m).

Overall, Chance to Shine Foundation Ltd achieved a surplus of £0.397m for the year (2020/21: £0.362m surplus). This is mainly a result of the ECB match funding which is accrued for at year end but budgeted to be spent in the following year.

There was a net cash inflow for the year of £0.134m versus a £0.268m inflow in 2020/21.

The Trustee Directors seek to ensure that funds raised are spent effectively for all of its charitable activities, monitoring a range of metrics including the following:

  1. Costs of generating funds as a % of incoming resources from generated funds: 18% (2020/21: 20% )

A measure of the total costs of fundraising activity as a percentage of the total income generated, excluding investment income. This encompasses all forms of voluntary, commercial and event-based fundraising.

  1. Charitable activities costs as a % of total resources expended: 81% (2020/21: 79%)

A measure of the expenditure on the charitable programmes of Chance to Shine Foundation Ltd as a proportion of total expenditure.

Page 13

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

  1. Support costs as a % of charitable activity costs: 15% (2020/21: 14% )

A measure of the costs of the Operations management team and allocated overheads (support costs) as a percentage of the total charitable expenditure on Chance to Shine Foundation Ltd’s programmes.

The year-on-year movement in these ratios reflects a number of factors and in particular our programmes and activities returning to pre COVID-19 pandemic levels.

RESERVES POLICY

It has been a long-held conviction, and evidenced by our experience, that the full benefits derived from our Chance to Shine programmes arise from providing long-term, not short-term, opportunities to participate. Working with our delivery partners, we aim to engage with schools and communities on a sustainable basis. To do this we believe that it is essential to be assured of our funding position in order to be able to plan effectively and to deliver the programmes most successfully.

The Trustees have, therefore, determined that we should seek to hold reserves equivalent to between one and two years of planned programme expenditure, from restricted and unrestricted reserves as appropriate, as well as sufficient unrestricted reserves to cover between six months and one year of future management and administration costs. Chance to Shine receives funding from certain donors, including ECB, Sport England and many trusts and foundations, that are restricted for use in particular programmes and/or in specified geographical areas. Other fundraising, together with surpluses arising from commercial activities, are unrestricted. The reserves target range at the year-end was between £1.5m - £2.9m.

At the end of the year reserves totalled £6.250m, of which restricted funds £1.813m. In July 2022 the Trustees agreed to designate a further £0.54m to support the growth in Chance to Shine Street over the next 3 years bringing the total designated funds at the end of the year to £0.868m. This leaves £3.569m of general unrestricted funds which the Trustees are free to use in accordance with the Company’s charitable objectives.

Existing restricted reserves and future expected restricted funding will continue to help fund the Primary Schools and Street programmes. A further £0.525m of unrestricted reserves will be required, to supplement the restricted reserves, to cover 12 months of other planned, unfunded programmes. The Trustees agree that the current level of reserves is appropriate for the short term and will be agreeing a plan of investment of reserves in 2022/23 to enhance Chance to Shine’s charitable activities as part of developing a new strategic plan.

INVESTMENT POLICY

Investments are made according to an agreed policy that enables surplus cash (above that required for the following three months’ requirements) to be invested in longer-term opportunities that balance returns with a low level of risk, most likely being fixed term cash deposits, notice accounts or bonds. Investment planning takes into account both cash balances held together with pledged and forecast income where there is a high degree of certainty of the value and timing of future receipts. In current circumstances, given the anticipated future cash requirements and the rates of return available, the investment of such surplus funds has been restricted to sterling deposits with British banks with an acceptable credit rating. A limit is applied for the maximum proportion of total funds that can be held in any one institution.

The implementation of the investment policy is overseen by the Investment Committee on behalf of the Board of Trustees. All investments held currently or at any point during the year were in the form of fixed term or notice cash deposit accounts.

Page 14

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

4) FUTURE PLANS AND STRATEGY

Our current period of strategic focus is 2020-24 and as such the strategy maintains our commitment to our mission in helping children to play, learn and develop through cricket. We continue to concentrate on doing so principally via our Schools and Street programmes; these are major priorities for future focus and investment.

In 2021/22 we assessed our strategic objectives across all areas of our work and remain committed to helping children and young people through maintaining our focus on State schools and disadvantaged communities via our Street work.

In reflecting at the start of the year, some areas of focus emerged for CTS to enhance focus on, in addition to maintaining our core work:

Our fundraising strategy continues to focus on diversifying our income, particularly with corporate partners and individual supporters. We now aim to grow our income from sources other than the ECB and Sport England to £3m by 2025.

Looking ahead CTS will undertake a strategic review in 2022/23 which will set future strategy beyond 2024. The trustees and senior executive have set out to evolve the organisation and as such still see the core mission remaining very similar, however much work will be undertaken to assess progress against objectives, the socio-economic landscape and where the charity is best placed to concentrate it’s efforts in the future.

Chance to Shine continues to seek restricted and unrestricted donations in support of its programmes from individuals, companies, trusts and foundations. It remains sincerely grateful to all such organisations and individuals for their generous support.

Particular thanks to our generous individual supporters and our corporate supporters including NatWest, Yorkshire Tea, Lifebuoy, BGC, Vestey Holdings, Sage and IG Group. Trusts and foundations including The Angus Lawson Memorial Trust, Buffini Chao Foundation, Garfield Weston Foundation, The Harpur Trust, The John Armitage Charitable Trust, John Lyon's Charity, Monday Charitable Trust, The Taylor Family Trust and Kasuma Trust.

Page 15

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

5) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY

Chance to Shine Foundation Ltd is a registered charity and a company limited by guarantee. The liability of its Members in the event of an insolvent liquidation is limited to a contribution of £1.

The governance of Chance to Shine Foundation Ltd is entrusted to the Trustees who are the Members of the Company and are also registered at Companies House as the Directors of the Company.

Bound by its Memorandum and Articles of Association, Chance to Shine Foundation Ltd is required to allocate its funding for charitable purposes in the pursuit of cricket and education. The Chair and the Trustee Directors have ensured that activities funded by the charity are in line with the Memorandum and Articles.

The two key areas eligible for funding, as established within its Memorandum of Association as objects of the charity, are:

The following are specific areas itemised in the Memorandum of Association for which funding may be awarded:

Chance to Shine Foundation Ltd’s primary activities are the Chance to Shine Schools and Chance to Shine Street programmes, details of which are on page 4.

All activities within the Chance to Shine programmes comply with one or more of the terms of reference of the Memorandum of Association.

Page 16

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

6) STUCTURE, GOVERNANCE AND MANAGEMENT

THE TRUSTEE DIRECTORS

The Trustee Directors of Chance to Shine Foundation Ltd are appointed by their fellow Trustee Directors, as members of the Company, for their specific expertise in areas relevant to the charity, either in terms of cricket, business, educational, legal, financial or fundraising matters. All new Trustee Directors are made familiar with the terms of the charitable company’s governing document and the objectives and aims of the charity as part of a formal induction process. Trustee Directors are assisted in fulfilment of their duties and ongoing training by colleagues with relevant expertise or by the involvement of outside experts.

Trustee Directors can be appointed to serve for periods of up to three years and can be renewed for a maximum of two additional three year terms.

TRUSTEE DIRECTOR APPOINTMENTS AND RESIGNATIONS

Sir Mark Harford was appointed as a Trustee of Chance to Shine on 3 October 2022. Mark is a founding partner and director of Vitruvian Partners LLP and the Chair of the Chance to Shine Development Board.

Ebony Rainford-Brent resigned as a Trustee of Chance to Shine on the 31 January 2022.

Everyone at Chance to Shine was deeply saddened to learn of the passing of Anshuman Jain, a Trustee of Chance to Shine, on the 13 August 2022.

SPORT ENGLAND GOVERNANCE CODE

Chance to Shine achieved compliance on 6 March 2018 with the Code for Sports Governance published by UK Sport and Sport England and will be assessed against the new areas of the revised Code for Sports Governance in 2023. Compliance with the Code for Sports Governance is a requirement of Sport England funding to Chance to Shine. Chance to Shine has a dedicated governance section on our website which demonstrates our ongoing compliance with the Code. www.chancetoshine.org/governance

AUDITORS

Sayer Vincent LLP were appointed as auditors of the Company.

TRUSTEE DIRECTOR MEETINGS, RESPONSIBILITES AND DELEGATION

The Trustee Directors normally meet four times per year at formal Board meetings and on any other occasions as judged necessary. Trustee Directors have established a number of subcommittees and boards to advise the Board on specific areas of the Company’s operations.

The Audit & Risk Committee meet at least three times during the year and its purpose is to oversee the application of internal controls, performance reporting, external audit, risk management and related matters. Sophie O’Connor chaired this committee throughout the year.

The Governance & Remuneration Committee, chaired by Sir Donald Brydon, meets biannually, and as required. It is responsible for making recommendations regarding Board membership and for the appointment of the Chief Executive. It also oversees the remuneration of all employees of Chance to Shine and is responsible for reviewing and setting key management personnel remuneration taking into account current market salaries and price indices.

Page 17

CHANCE TO SHINE FOUNDATION LTD

TRUSTEES DIRECTORS’ REPORT – year ended 30 September 2022

The Investment Committee oversees the investment policy for Chance to Shine’s cash and other monetary assets, which is agreed by the Board, and monitors the performance of the investments. Caspar Rock chaired this committee throughout the year.

The Development Board, chaired by Sir Mark Harford, is an advisory board of independent members created to assist Chance to Shine to raise funds for its ongoing and future programmes.

The County Advisory Board, chaired by Martin Darlow, is an advisory board comprised of county cricket representatives which evaluates the relationship and expectations between Chance to Shine and the County Cricket network.

Each of the Trustee Committees has a documented remit that has been reviewed and agreed by the Board and can be viewed, along with current membership, on our website www.chancetoshine.org/governance

EXECUTIVE AND SENIOR MANAGEMENT

The day-to-day management of Chance to Shine Foundation Ltd is delegated to the Chief Executive, Laura Cordingley. She is supported directly by Steve Peyman, Director of Operations; Nicholas Platt, Director of Finance & Resources; Kate Jacques, Director of Fundraising, Ross Jeavons Director of Communications & Digital and Vanessa Greene, Director of Impact & Evaluation.

RISK MANAGEMENT

Chance to Shine (CTS) has a formal risk management process through which the Senior Management Team identifies the major risks to which the organisation may be exposed and has ranked these by likelihood and impact, culminating in a risk control document which is updated on a regular basis. All significant risks, together with current mitigation actions, are reviewed regularly throughout the year by the Audit & Risk Committee and the Board of Trustees. The Trustees are satisfied that systems have been developed and are in place to mitigate identified risks to an acceptable level.

During the year the Senior Management Team, alongside the Audit & Risk Committee, conducted a full review of the organisation’s risks. The current principal risks and uncertainties identified by the charity are in the following table:

Page 18

CHANCE TO SHINE FOUNDATION LTD

TRUSTEES DIRECTORS’ REPORT – year ended 30 September 2022

Risk identified Action taken to mitigate risk
Racism and the reputation
of cricket		 Developed Equity, Diversity and Inclusion (EDI) Strategy in Jan 22
Incorporate Diversity and Inclusion Action plan into EDI strategy
in line with new requirements of the Code for Sports Governance
Continued EDI training for staff and wider coaching workforce
Completed anti-racism assessment and developed anti-racism
policy
Cost of living pressures Quarterly reviews with delivery partners to understand any
increased costs i.e. facility hire and any changes in workforce
which could affect quality and quantity of delivery.
Factored in increased costs to delivery in 2202/23 via partnership
plans and agreements.
Internal benchmarking of existing and new roles to assess against
market.
Strategy becomes mis-
aligned with that of key
funding partners.		 Maintain close and regular contact with key stakeholders.
Meetings with England and Wales Cricket Board (ECB) and Sport
England to discuss key strategic decisions relevant to both
organisations.
CTS is a key partner in ECB’s new Youth Strategy supporting
growth in disadvantaged areas through expanding schools and
street to support children in schools with high percentage (40+)
of children receiving Free School Meals.
Develop new organisational-wide strategy from 2023 onwards.
Fundraising Target is not
reached.		 Implement existing CTS fundraising strategy and develop new
strategy in line with organisational strategy from 2023 onwards,
underpinned by an annual plan with targets reviewed periodically
by Trustees.
Ongoing monitoring of government sport policy and potential
implications for future funding for CTS.
Incident at a CTS session
or event. (e.g. serious
injury or safeguarding)		 All CTS coaches are required to have ECB CA membership that
provides personal and public liability cover, Disclosure and Barring
Service clearance and mandates risk assessment and safety
design of sessions.
Chance to Shine has a Safeguarding Children and Young People
Policy which is embedded in partnership agreements with delivery
partners.
New staff member appointed with specific remit for Safeguarding
and a designated Welfare and Safety Lead on the Board.
The quality of activities
delivered is not of the
standard associated with
Chance to Shine’s brand.		 Minimum quality standards are set for delivery partners in signed
partnership agreements, including requirement to ensure coaches
are qualified, trained and attend ECB’s working in schools course.
Regular feedback requested to assess programme quality,
including external, independent spot checks.
End of year reviews are held with Regional Managers and
delivery partners to analyse quality of delivery.

Page 19

CHANCE TO SHINE FOUNDATION LTD

TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022

7) RESPONSIBILITIES

STATEMENT OF TRUSTEE DIRECTORS’ RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustee 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 the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The Trustee Directors are responsible for keeping proper accounting records that 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.

STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS

So far as each of the Trustee Directors is aware, there is no relevant information that has not been disclosed to the Company’s auditors and each of the Trustee Directors believes that all steps have been taken that ought to have been taken to make them aware of any relevant audit information and to establish that the Company’s auditors have been made aware of that information.

FINANCIAL STATEMENTS

The Trustee Directors confirm that the accompanying financial statements comply with statutory requirements, the requirements of the Companies Act 2006 and the Statement of Recommended Practice ("SORP").

In preparing this report, the trustees have taken advantage of the small companies exemptions provided in Section 415A of the Companies Act 2006.

Approved by the Board of Trustee Directors of Chance to Shine Foundation Ltd on 30 January 2023 and signed on its behalf by:

Sir DH Brydon Director

Page 20

CHANCE TO SHINE FOUNDATION LTD

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CHANCE TO SHINE FOUNDATION LTD

Opinion

We have audited the financial statements of Chance to Shine Foundation Ltd (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 30 September 2022 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, 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 group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of 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 Chance to Shine Foundation Ltd.’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 trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves.

Page 21

CHANCE TO SHINE FOUNDATION LTD

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CHANCE TO SHINE FOUNDATION LTD

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.

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 group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

Page 22

CHANCE TO SHINE FOUNDATION LTD

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CHANCE TO SHINE FOUNDATION LTD

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 23

CHANCE TO SHINE FOUNDATION LTD

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CHANCE TO SHINE FOUNDATION LTD

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Orchard (Senior statutory auditor)

Date 8 February 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

Page 24

CHANCE TO SHINE FOUNDATION LTD

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 September 2022

Unrestricted
Notes
Funds
£’000
Income from:
Donations, grants and legacies
2
1,826
Activities for raising funds
3
555
Investment income
5
14
Total income
2,395
Expenditure on:
Raising funds
Costs of generating
voluntary income
8
300
Fundraising trading
8
319
Charitable activities
8
174
Total resources expended
793
Reserves transfer
(185)
Net movement in funds
1,417
Fund balance brought
forward at 1 October 2021
3,020
Fund balance carried
forward at 30 September
2022
4,437		 Restricted
Funds
£’000
3,647
-
-
3,647
458
-
4,394
4,852
185
(1,020)
2,833
1,813		 2021/22
Total
Funds
£’000
5,473
555
14
6,042
758
319
4,568
5,645
-
397
5,853
6,250		 2020/21
Total
Funds
£’000
4,122
600
22
4,744
742
186
3,454
4,382
-
362
5,491
5,853

The notes on pages 28 to 41 form part of these accounts.

Page 25

CHANCE TO SHINE FOUNDATION LTD

BALANCE SHEET AT 30 September 2022

Notes
Current assets
Stock
Debtors
12
Bank and other cash deposits
13
Total current assets
Current liabilities
Creditors: amounts falling due
within one year
14
Total assets less current liabilities
Creditors: amounts falling due
after more than one year
Total net assets
Represented by:
Restricted funds
15
Unrestricted funds
15
Designated fund
15
Total funds		 Group
2022

£’000
-
1,450
5,415
6,864
(615)
6,250
-
6,250
1,813
3,569
868
6,250		 Group
2021
£’000
3
1,157
5,281
6,441
(588)
5,853
-
5,853
2,833
2,692
328
5,853		 Company
2022
£’000
-
1,392
5,057
6,448
(416)
6,033
-
6,033
1,813
3,352
868
6,033		 Company
2021
£’000
-
1,051
4,798
5,849
(364)
5,485
-
5,485
2,833
2,324
328
5,485

The company’s result as a single entity was: income £5,901,000 and a surplus of £548,000 (2020/21: income £4,463,000 surplus £271,000).

The notes on pages 28 to 40 form part of these accounts.

The financial statements were approved and authorised for issue by the Board of Trustee Directors on 30 January 2023 and signed on their behalf by:

…………………………… ………………………………………. Sir DH Brydon SJ O’Connor Chair Director

Company registration number: 06441426 (England and Wales)

Page 26

CHANCE TO SHINE FOUNDATION LTD

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 30 September 2022

Net cash inflow/(outflow) from operating activities
C1
Investing activities
Investment income receipts
Increase/(decrease) in cash in the year
C2		 2021/22
£’000
120
14
134		 2020/21
£’000
246
22
268

C1 Reconciliation of changes in resources to net inflow from operating activities

Net incoming/(outgoing) resources
Investment income
Increase/(decrease) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash inflow/(outflow) from operating activities
lysis of changes in net cash resources
30 Sep
2021
£’000
Current accounts
5,281		 2021/22
£’000
397
(14)
3
(293)
(27)
120
Cash-
Flow
£’000
134		 2020/21
£’000
362
(22)
-
(53)
(41)
246
30 Sep
2022
£’000
5,415

C2 Analysis of changes in net cash resources

The notes on pages 28 to 41 form part of these accounts.

Page 27

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

1 Accounting policies

The financial statements are prepared under the historical cost convention as modified to include the revaluation of investments at market value, and in accordance the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019) and applicable accounting standards (FRS 102). The charity is a Public Benefit Entity as defined by FRS 102.

1.2 Going Concern

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

Stocks are valued at the lower of cost and net realisable value.

1.6 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

1.9 Foreign currency translation

The charities functional and presentational currency is pound sterling. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the Statement of Financial Activities.

Page 28

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

1.10 Group accounts

These financial statements consolidate the results of the Company and its wholly owned subsidiary Chance to Shine Enterprises Limited on a line by line basis. A separate statement of financial activities and income and expenditure account are not presented for the Company itself following the exemptions afforded by Section 408 of the Companies Act 2006.

1.11 Fund policy

Income declared and received for specific charitable purposes is allocated to Restricted Funds, and its use is restricted to expenditure on those purposes only. General unspecified funds received are categorised under Unrestricted Funds and spent in furtherance of the Company’s objects.

1.12 Employee benefits

Short term benefits - Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits - Termination benefits are accounted for on an accrual basis and in line with FRS 102.

1.13 Pensions

1.14 Incoming resources

Voluntary income including donations, gifts and grants that provide core funding or are of general nature are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Entitlement to income is considered when there is a formal and unconditional written offer. Verbal pledges are recognised when the donation is received. Income is only deferred when:

Gift aid and deed of covenant income resulting from membership is accounted for on a receivable basis.

Income from commercial activities is recognised on a receivable basis, according to contract or invoice. Income from fundraising events is recognised when the event has taken place, with income from auctions held at events recognised when the auctioned item has been received by the bidder.

Investment income is recognised on a receivable basis.

1.15 Resources expended

Expenditure is included on an accruals basis. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional and such conditions are set by the Trustees, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants are only made to institutions.

Page 29

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost of each fixed asset over the estimated useful life using the following rates:

Office equipment and fixtures: 33.3% per annum Marketing equipment: 50% per annum

Assets individually costing more than £2,000 would be subject to capitalisation under this policy. No assets have been capitalised to date.

The charity is a company limited by guarantee, incorporated in England and Wales (company no. 06441426) and a charity registered in England and Wales (charity no. 1123385). Its registered address is The Kia Oval, London SE11 5SW.

Page 30

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

2 Donations and grants

Gifts, donations and grants
Legacies
Donated goods and services
Gift aid
England and Wales Cricket Board grants
Government grants – Department for Work and Pensions
Government grants – Sport England		 2021/22
£’000
1,570
242
39
96
2,529
11
986
5,473		 2020/21
£’000
1,184
96
19
61
1,809
2
951
4,122

3 Activities for raising funds

This income in 2021/22 relates solely to revenue raised by Chance to Shine Enterprises Limited, including trading activities undertaken with commercial partners and from a number of fundraising events.

Sponsorship agreements
Fundraising events		 2021/22
£’000
159
396

555		 2020/21
£’000
430
170
600

4 Total external fundraising

Chance to Shine’s annual fundraising targets are set and monitored by the Board against total external fundraising, incorporating donations, gifts, gift aid, commercial income, sponsorship income and investment income.

Gifts and donations (including gift aid)
Commercial and sponsorship income
Investment income
Investment Income
Interest on bank and other cash deposits		 2021/22
£’000
14
2021/22
£’000

1,947
555
14

2,516		 2020/21
£’000
1,360
600
22
1,982
2020/21
£’000

22

5 Investment Income

Page 31

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

6 Staff costs and numbers

taff costs and numbers
Average number of employees
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2021/22
23
£’000
984
112
106
38
1,240		 2020/21
22
£’000
901
102
107
24
1,134

Other staff costs comprise car lease, recruitment costs and costs of a private medical scheme.

The number of employees at 30 September 2022 was 25 and the average number of employees throughout the year was 23.

The average number of employees, expressed as Full Time Equivalents, was 23 (2020/21: 22). The table below shows these totals by activity:


2). The table below shows these totals by activity:
Charitable activities – operations management
Fundraising trading
Public relations and communications
General management, fundraising & finance		 2021/22
8
2
3
10
23		 2020/21
7
2
3
10
22

The table below shows the number of higher paid employees with emoluments falling in the following ranges (on a full annual basis). Emoluments include salary, bonuses and taxable benefits in kind and other payments made to employees.

2021/22 2020/21
Total Total
£60,000 to £69,999 3 1
£70,000 to £79,999 1 2
£80,000 to £89,999 - 1
£90,000 to £99,999 1 -

The total employee benefits of the key management personnel of the group were £526,584 (2020/21: £508,364). All of this relates to key management personnel of the charity. The key management personnel of the group during the period are considered to be: Chief Executive, Operations Director, Director of Finance and Resources, Director of Communications and Digital, Director of Fundraising and Director of Impact and Evaluation.

Contributions in the year to the ECB defined contribution Group Pension scheme were £50,001 (2020/21: £45,286) for higher paid employees.

Page 32

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

7 Trustee Directors’ emoluments

For all other Trustees the total emoluments were £ nil (2020/21: £nil). No trustee was reimbursed expenses and there were four Trustee Board meetings during the year (2020/21: four).

8 Total resources expended

Basis of
allocation		 Voluntary
income		 Fundraising
trading		 Chance to Shine Schools Chance to Shine Street Other projects Governance 2021/22
Total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Costs directly allocated to activities
Shared staff costs Staff 331 78 245 194 13 - 861
Direct programme
costs Direct - - 2,616 1,196 45 - 3,857
Communications Direct 50 - - - - - 50
Fundraising
expenses Direct 92 - - - - - 92
Fundraising event
costs Direct - 179 - - - - 179
Commercial
activities Direct - 18 - - - - 18
Legal &
Professional Direct - - - - - 4 4
Audit fees Direct - - - - - 16 16
Support costs allocated to activities
Support staff costs Staff 180 30 76 61 4 28 379
Office and Direct
administration /staff 105 14 37 30 2 1 189
758 319 2,974 1,481 64 49 5,645
Board
Governance costs Time - - 22 22 5 (49) -
2021/22 Total 758 319 2,996 1,503 69 - 5,645
2020/21 Total 742 186 2,660 754 40 - 4,382

Page 33

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

Total resources expended (cont.)

Total resources expended prior year

Basis of
allocation		 Voluntary
income		 Fundraising trading Chance to Shine Schools Chance to Shine Street Other projects Governance 2020/21
Total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Costs directly allocated to activities
Shared staff costs Staff 306 82 236 188 12 - 824
Direct programme
costs Direct - - 2,379 527 22 - 2,928
Communications Direct 26 - - - - - 26
Fundraising
expenses Direct 70 - - - - - 70
Fundraising event
costs Direct - 72 - - - - 72
Commercial
activities Direct - 16 - - - - 16
Legal &
Professional Direct - - - - - 4 4
Audit fees Direct - - - - - 18 18
Support costs allocated to activities
Support staff costs Staff 267 - 16 13 1 13 310
Office and Direct
administration /staff 73 16 12 9 1 3 114
742 186 2,643 737 36 38 4,382
Board
Governance costs Time - - 17 17 4 (38) -
2020/21 Total 742 186 2,660 754 40 - 4,382

Page 34

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

9 Grants to institutions

Chance to Shine awards grants to their partners to deliver its Schools and Street programmes. All grants are made to institutions, which include all the County Cricket Boards, and no grants are made to individuals. The total of grants made to the 41 (2020/21: 41) institutions was £3,922,000 (2020/21: £3,147,000) in the following ranges:

2021/22 2020/21
£0 to £49,999 Isle of Wight, Herefordshire,
Cricket Scotland,
Cambridgeshire, Cornwall,
Suffolk, Dorset, Cumbria,
Wiltshire, Shropshire,
Northamptonshire, TSA Sports		 Cambridgeshire, Cornwall,
Cricket East, Cricket Scotland,
Cumbria, Dorset,
Herefordshire, Isle of Wight,
Lincolnshire, Norfolk,
Northamptonshire,
Oxfordshire, Shropshire,
StreetGames, Suffolk, TSA
Sports, Wiltshire
£50,000 to £99,999 Oxfordshire, Hertfordshire,
Norfolk, Worcestershire,
Lincolnshire, Devon,
StreetGames, Derbyshire,
Cricket East, Hampshire,
Northumberland,
Buckinghamshire, Somerset,
Nottinghamshire,
Leicestershire, Durham,
Cheshire		 Berkshire, Buckinghamshire,
Cheshire, Derbyshire, Devon,
Durham, Hampshire,
Hertfordshire, Kent,
Leicestershire,
Northumberland,
Nottinghamshire, Somerset,
Staffordshire, Sussex,
Worcestershire
£100,000 to £149,999 Berkshire, Staffordshire,
Sussex, Gloucestershire, Kent,
Essex, Cricket Wales		 Cricket Wales, Essex,
Gloucestershire
£150,000 to £199,999 Surrey, Warwickshire
£200,000 to £249,999 Warwickshire Middlesex, Yorkshire
£250,000 to £299,999 Yorkshire, Surrey, Middlesex Lancashire
£300,000 to £349,999 Lancashire
10 Other costs
2021/22 2020/21
£’000 £’000
Auditors’ remuneration – current year 16 18
- prior year (1) -
- non-audit services 1 1

Page 35

CHANCE TO SHINE FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

11 Subsidiary undertaking

The charity owns the whole of the issued ordinary share capital of Chance to Shine Enterprises Limited, a company registered in England. The company number is 05105487. The registered office address is The Kia Oval, London, SE11 5SW. The subsidiary is valued at the original nominal value of £1 and hence does not appear separately on the Balance Sheet.

A summary of the results of the subsidiary is shown below:

Turnover
Direct costs
Gross profit
Administrative expenses
Management charge payable to parent undertaking
Profit for the financial year
Retained earnings
Total retained earnings brought forward at 1 October 2021
Profit for the financial year
Distribution under Gift Aid to parent charity
Total retained earnings carried forward
at 30 September 2022
Aggregate of assets and liabilities and reserves
Assets
Liabilities
Reserves		 2022
£’000
555
(198)
357
(94)
(46)
217
368
217
(368)
217
417
(200)
217		 2021
£’000
600
(99)
501
(92)
(41)
368
277
368
(277)
368
619
(251)
368

Page 36

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

12
Debtors
Amount due from subsidiary
Voluntary income receivable
Fundraising events
Bad debt provision
Gift Aid receivable
Commercial activities
Prepayments
Accrued income
Other debtors		 Group
2022
2021
£’000
£’000
-
-
13
2
37
50
(3)
(7)
55
11
12
60
423
833
912
207
1
1
1,450
1,157		 Company
2022
2021
£’000
£’000
-
-
13
2
-
-
-
-
55
11
-
-
411
830
912
207
1
1
1,392
1,051		 Company
2022
2021
£’000
£’000
-
-
13
2
-
-
-
-
55
11
-
-
411
830
912
207
1
1
1,392
1,051
1,051

Prepayments include amounts recoverable from County Cricket Board grants, due to underspend in Board projects of £388,000 (2020/21: £769,000) that will be offset against future funding. Accrued income includes £500,000 (2020/21: £nil) of match funding due from the England and Wales Cricket Board as a result of private fundraising efforts during the year. Legacies due that have not been accrued at year end are estimated to be a minimum of £30,000.

13 Bank and other cash deposits

ank and other cash deposits
Current accounts
Fixed term deposit and notice
accounts (< 1 year)		 Group
2022
2021
£’000
£’000
2,538
2,916
2,877
2,365
5,415
5,281		 Company
2022
2021
£’000
£’000
2,180
2,433
2,877
2,365
5,057
4,798
4,798

14 Creditors: Amounts falling due within one year

Amount due to subsidiary
Deferred income
Taxation & social security
Other creditors
Accruals		 Group
2022
2021
£’000
£’000
-
-
128
174
8
39
427
274
52
101
615
588		 Company
2022
2021
£’000
£’000
1
26
-
-
-
-
375
247
40
91
416
364		 Company
2022
2021
£’000
£’000
1
26
-
-
-
-
375
247
40
91
416
364
364

Page 37

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

Creditors: Amounts falling due within one year (cont.)

Deferred income analysis

eferred income analysis
Brought forward
Released in year
New deferrals
Carried forward		 Group
2022
2021
£’000
£’000
174
123
(154)
(115)
108
166
128
174		 Company
2022
2021
£’000
£’000
-
-
-
-
-
-
-
-
-

15 Movement in funds

Restricted funds
Chance to Shine
Chance to Shine Schools
Chance to Shine Street
Primary Schools (ECB)
Street (Sport England)
Unrestricted funds
General funds
Designated fund
Total funds		 Reserves
Income
Costs
Reserves Reserves
brought
2021/22
2021/22
Transfer
Carried
forward
In/(Out)
Forward
£’000
£’000
£’000
£’000
£’000
1,576
23
470
-
1,129
-
165
350
185
-
168
444
394
-
218
531
2,029
2,560
-
-
558
986
1,078
-
466
2,833
3,647
4,852
185
1,813
2,692
2,395
793
(725)
3,569
328
-
-
540
868
5,853
6,042
5,645
-
6,250

Movement in funds prior year

Reserves Income Costs Reserves Reserves
brought 2020/21 2020/21 Transfer Carried
forward In/(Out) Forward
£’000 £’000 £’000 £’000 £’000
Restricted funds
Chance to Shine 1,887 23 334 - 1,576
Chance to Shine Schools - 95 505 410 -
Chance to Shine Street - 224 56 - 168
Primary Schools (ECB) 754 1,809 2,032 - 531
Street (Sport England) 390 951 783 - 558
3,031 3,102 3,710 410 2,833
Unrestricted funds
General funds 2,073 1,642 613 (410) 2,692
Designated fund 387 - 59 - 328
Total funds 5,491 4,744 4,382 - 5,853

Page 38

CHANCE TO SHINE FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

Movement in funds (cont.)

Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the Company’s charitable objectives. During the period the Trustees designated £540,000 to support the growth in the Chance to Shine Street programme from 2022/23 and £185,000 was transferred to cover the costs restricted to the Chance to Shine Schools programme.

The Chance to Shine restricted fund consists of reserves restricted to be spent on Chance to Shine Foundation Ltd’s charitable programmes that do not apply to specific charitable activities. This fund can be used to cover costs of any of the charity’s existing programmes.

The Chance to Shine Schools restricted fund represents income and costs restricted to the Chance to Shine Schools programme. £185,000 was transferred from unrestricted funds to cover costs on the programme.

The Chance to Shine Street restricted fund represents income and costs restricted to the Chance to Shine Street programme.

The Primary Schools restricted fund is funding from the England and Wales Cricket Board restricted to the primary schools part of the Chance to Shine Schools Programme.

The Sport England Street restricted fund is Lottery funding which is restricted to the Chance to Shine Street programme.

16 Analysis of net assets between funds

nalysis of net assets between funds
Funds balance at 30 September 2022 are
represented by:
-
Net current assets
Funds balance at 30 September 2021 are
represented by:
-
Net current assets		 Unrestricted
funds
Restricted
funds
Total
funds
£’000
£’000
£’000

4,437
1,813
6,250
4,437
1,813
6,250
Unrestricted
funds
Restricted
funds
Total
funds
£’000
£’000
£’000

3,020
2,833
5,853
3,020
2,833
5,853

17 Taxation

The Company is a registered charity and is entitled to the exemptions from tax afforded by sections 505 ICTA and 256 TCGA 1992 as far as its income and gains are applied for charitable purposes.

Page 39

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

18 Related party transactions

Payments of £46,973 was made to The Youth Sport Trust, for whom Alison Oliver, a Trustee of Chance to Shine Foundation Ltd, is the Chief Executive. This was for development of the primary school programme resources.

Payments totalling £23,645 were made to Capital Kids Cricket, for whom Martin Darlow, a Trustee of Chance to Shine Foundation Ltd, is a Director. This was for the delivery of the Hospital Schools Programme. Martin Darlow is also a Director of the England and Wales Cricket Board.

Payments of £316,981 were made to Surrey County Cricket Club Limited, for whom Ebony Rainford-Brent, a Trustee of Chance to Shine Foundation Ltd, is a Director and Laura Cordingley, Chief Executive of Chance to Shine Foundations Ltd, is a Non-Executive Director. £259,115 related to grant funding to Surrey Cricket Foundation, £26,820 was for a hospitality box at the Oval Test Match and Surrey membership and £31,045 was for the rental of office space. Surrey County Cricket Club made a donation of £10,085 to Chance to Shine Foundation relating to funds raised during the Oval Test Match.

The total amount of donations received from Trustees in the year was £3,446 (2020/21: £33,596).

Page 40

CHANCE TO SHINE FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 September 2022

19 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR THE YEAR ENDED 30 SEPTEMBER 2021
Unrestricted
Funds
£’000
Income from:
Donations and grants
1,020
Activities for raising funds
600
Investment income
22
Total income
1,642
Expenditure on:
Raising funds
Costs of generating
voluntary income
267
Fundraising trading
186
Charitable activities
219
Total resources expended
672
Reserves transfer
(410)
Net movement in funds
560
Fund balance brought
2,460
forward at 1 October 2020
Fund balance carried
forward at 30 September
2021
3,020
20
Sport England grant income and expenditure
Grants receivable
Chance to Shine Street
Direct programme costs
Administrative expenses
Total expenditure		 Restricted
Funds
£’000
3,102
-
-
3,102
475
-
3,235
3,710
410
(198)
3,031
2,833
2021/22
£’000
986
705
148
225
1,078		 2020/21
Total
Funds
£’000
4,122
600
22
4,744
742
186
3,454
4,382
-
362
5,491
5,853
2020/21
£’000
951
527
159
97
783

Page 41