# **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|



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**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 

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**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. 

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**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<br>School<br>Programme|Cricket<br>Engagement<br>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%)|



* To note, this is a unique number of schools that received a Play session 

_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. 

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**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 

- 14 (7 x U13 / 7 x U15); all were linked to Regional Development Centres 

- Teams at Regional Finals – 39 (U13) / 35 (U15) 

- Matches Played at Regionals Finals – 91 (U13) / 88 (U15) 

- Participants (approx.) – 666 (based on 9 participants per team) 

Year 7 Mixed County Finals 

- 7 County Boards submitted a proposal to deliver festivals. Finals numbers; 

- Schools – 75 

- Teams – 78 

- Participants – 843 

## **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. 

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**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: 

- Former Maccabee and Tailenders podcaster Felix White joining West Indies cricketing legend Carlos Brathwaite to meet pupils from St Paul's with St Michael's Primary school, Hackney. 

- Current England T20 & ODI player, Moeen Ali, visiting his old Primary School (Nelson Mandela School, Birmingham) to launch his children’s book ‘The Legend of Sparkhill’. 

- England’s first black test cricketer, Roland Butcher, visiting the Sheffield ‘wider engagement programme’ project, aimed at giving young children from areas with high black and Afro-Caribbean populations the opportunity to be introduced to the game. 

- Girls Chance to Compete Regional finals hosted by Southern Vipers Regional Development centre, with a number of current international and professional female cricketers in attendance as ambassadors. 

## **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. 

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**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. 

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**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.”_ 

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**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. 

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**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. 

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**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: 

- Developing and beginning to implement an Equity, Diversity & Inclusion strategy to complement and enhance the Charity’s existing strategic direction. 

- Establishment of an EDI steering group to help guide CTS’s EDI and strategy work. This a pan-organisation internal group representative of every department 

- Introducing a new inclusive recruitment tool Pinpoint which supports blind recruitment and other aspects such as helping to broaden job advert reach in order to diversity recruitment pools. 

- Partnering with Unleashed an inclusivity and EDI consultancy to help deliver EDI training to 385 CTS coaches nationwide. 

- Maintaining Board gender diversity to 42% and the Senior Management Team to 50% 

- Undertaking an anti-racism assessment which took a view on Plan4Sport’s report into racism in Scotland and used the criteria to hold a mirror up to CTS. It was an overall positive reflection, with areas for improvement identified such as; appointing a CTS trustee as Board EDI Champion and enhancing our whistleblowing communications to be clear this includes reporting incidents of racism. 

- Working with the Independent Commission into Equity in Cricket to submit written and verbal reports as part of their call for evidence. 

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. 

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**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. 

2. 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. 

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**CHANCE TO SHINE FOUNDATION LTD** 

**TRUSTEE DIRECTORS’ REPORT – year ended 30 September 2022** 


3. 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. 

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**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: 

- Data: An increased focus on sharing impact and demographic data with delivery partners has seen a marked difference in impact with disadvantaged and under-served communities i.e., by helping delivery partners understand easily which schools in their local area have high percentage of pupils on Free School Meals 

- Street: as a result of improved data, CTS were able to identify areas where growing our street programme would have the most impact. This growth will take CTS Street projects from 200 to 300 across England, Wales and Scotland. The ECB have committed to match funding this growth £ for £ over the next three years and as such as we look ahead we anticipate having the additional 100 projects running by the end of 2022/23, all linked to areas where children have the least opportunity to play cricket. 

- Talent pathway: whilst not changing our focus on grassroots cricket and the impact this can have. We have reflected that as we aim to help young people reach their potential; whatever that may be – children who are talented in cricket are likely currently underserved if they are in CTS programmes as our work falls outside of the traditional talent pathway. This is particularly true for Street participants. We are therefore committed to working with partners such as ECB and County Cricket Boards to help CTS participants who display talent to be firstly seen and then supported into the pathway. 

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 organisation or provision of facilities, which will enable and encourage young persons in any part of the British Isles to play cricket. 

- The organisation or provision of facilities for recreation for persons who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances. 

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

- to provide full or part-time courses for young persons and coaches. 

- to promote courses for the purpose of training teachers in the coaching of cricket. 

- to provide for the delivery and holding of conferences and practical demonstrations. 

- to prepare training programmes and courses with education bodies. 

- to lay out, equip and maintain playing fields (including non-turf pitches and practice pitches) or appropriate indoor facilities. 

- to provide appropriate cricket equipment. 

- to promote or organise cricket matches, competitions or tournaments. 

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



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**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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

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 

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**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: 

- Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 30 September 2022 and of the group’s resources and application of resources, including its income and expenditure, for the year then ended 

- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice 

- Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011 

## **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. 

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**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: 

- The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements 

- The trustees’ annual report has been prepared in accordance with applicable legal requirements 

## **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: 

- Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or 

- • The parent charitable company financial statements are not in agreement with the accounting records and returns; or 

- Certain disclosures of trustees’ remuneration specified by law are not made; or 

- We have not received all the information and explanations we require for our audit; or 

- • The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report. 

## **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. 

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**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: 

- We enquired of management and the audit committee, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to: 

   - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; 

   - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. 

- We inspected the minutes of meetings of those charged with governance. 

- We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience. 

- We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. 

- • We reviewed any reports made to regulators. 

- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. 

- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. 

- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. 

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. 

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



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

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**CHANCE TO SHINE FOUNDATION LTD** 


## **BALANCE SHEET AT 30 September 2022** 

|**Notes**<br>**Current assets**<br>Stock<br>Debtors<br>**12**<br>Bank and other cash deposits<br>**13**<br>**Total current assets**<br>**Current liabilities**<br>Creditors: amounts falling due<br>within one year<br>**14**<br>**Total assets less current liabilities**<br>Creditors: amounts falling due<br>after more than one year<br>**Total net assets**<br>Represented by:<br>Restricted funds<br>**15**<br>Unrestricted funds<br>**15**<br>Designated fund<br>**15**<br>**Total funds**|**Group**<br>**2022**<br> <br>**£’000**<br>-<br>1,450<br>5,415<br>6,864<br>(615)<br>6,250<br>-<br>6,250<br>1,813<br>3,569<br>868<br>6,250|**Group**<br>**2021**<br>**£’000**<br>3<br>1,157<br>5,281<br>6,441<br>(588)<br>5,853<br>-<br>5,853<br>2,833<br>2,692<br>328<br>5,853|**Company**<br>**2022**<br>**£’000**<br>-<br>1,392<br>5,057<br>6,448<br>(416)<br>6,033<br>-<br>6,033<br>1,813<br>3,352<br>868<br>6,033|**Company**<br>**2021**<br>**£’000**<br>-<br>1,051<br>4,798|
|---|---|---|---|---|
|||||5,849<br>(364)|
|||||5,485<br>-|
|||||5,485|
|||||2,833<br>2,324<br>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) 

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**CHANCE TO SHINE FOUNDATION LTD** 


## **CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 30 September 2022** 

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



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

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



## **C2 Analysis of changes in net cash resources** 

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

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**CHANCE TO SHINE FOUNDATION LTD** 


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

## **1 Accounting policies** 

- 1.1 **Basis of preparation** 

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** 

   - The trustees consider that there are no material uncertainties regarding the charity’s ability to continue as a going concern. The review of our financial position, reserves level, bank balances, budgets, cash flow forecasts, future plans and assessment of risks, gives the trustees confidence the charity remains a going concern for the foreseeable future. 

- 1.3 **Critical accounting judgements and estimates** 

   - In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income, expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

- 1.4 **Cash at bank and in hand** 

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. 

- 1.5 **Stock** 

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. 

- 1.7 **Debtors and prepayments** County Board prepayments have been recognised where funding has not been spent in the period for which it was granted. Prepayments will be deducted from the next payment due. 

- 1.8 **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 

## 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. 

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**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** 

- The Group contributes to the ECB Group Pension scheme, a defined contribution scheme, for its qualifying employees. Contributions are charged against income as they become payable. 

## 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: 

- The donor specifies that the grant or donation must only be used in future accounting periods; or 

- The donor has imposed conditions which must be met before the charity has unconditional entitlement. 

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** 


   - Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

   - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and serves for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

   - Support costs include staff, office administration and other overhead costs of the central function and have been allocated to activities on a basis consistent with the use of resources. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. per capita or staff time. 

   - Governance costs include those incurred in the governance of the Group and its assets and are primarily associated with constitutional and statutory requirements. 

   - Donated goods and services are included both as voluntary income and as expenditure under the relevant heading in the Statement of Financial Activities, at values estimated to equal the expense saved. Voluntary income and the analysis of expenditure do not include the contribution of volunteers, or the value of discounts on purchases, unless the relevant discount clearly represents a charitable donation. 

   - Any part of a grant to a delivery partner which is not spent in the year for which it was granted, is accounted for as a prepayment and will be subtracted from their next grant payment. 

- 1.16 **Tangible fixed assets** 

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. 

- 1.17 **General information** 

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<br>Legacies<br>Donated goods and services<br>Gift aid<br>England and Wales Cricket Board grants<br>Government grants – Department for Work and Pensions<br>Government grants – Sport England|**2021/22**<br>**£’000**<br>1,570<br>242<br>39<br>96<br>2,529<br>11<br>986<br>5,473|**2020/21**<br>**£’000**<br>1,184<br>96<br>19<br>61<br>1,809<br>2<br>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<br>Fundraising events|**2021/22**<br>**£’000**<br>159<br>396<br> <br>555|**2020/21**<br>**£’000**<br>430<br>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)<br>Commercial and sponsorship income<br>Investment income<br>**Investment Income**<br>Interest on bank and other cash deposits|**2021/22**<br>**£’000**<br>14<br>**2021/22**<br>**£’000**<br> <br>1,947<br>555<br>14<br> <br>2,516|**2020/21**<br>**£’000**<br>1,360<br>600<br>22|
|---|---|---|
|||1,982|
|||**2020/21**<br>**£’000**<br> <br>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<br>Wages and salaries<br>Social security costs<br>Pension costs<br>Other staff costs|**2021/22**<br>23<br>**£’000**<br>984<br>112<br>106<br>38<br>1,240|**2020/21**<br>22|
|||**£’000**<br>901<br>102<br>107<br>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: 

|<br>2). The table below shows these totals by activity:|||
|---|---|---|
|Charitable activities – operations management<br>Fundraising trading<br>Public relations and communications<br>General management, fundraising & finance|**2021/22**<br>8<br>2<br>3<br>10<br>23|**2020/21**<br>7<br>2<br>3<br>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<br>allocation|Voluntary<br>income|Fundraising<br>trading|Chance to Shine|Schools|Chance to Shine|Street|Other projects|Governance|**2021/22**<br>**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<br>allocation|Voluntary<br>income|Fundraising|trading|Chance to Shine|Schools|Chance to Shine|Street|Other projects|Governance|**2020/21**<br>**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,<br>Cricket Scotland,<br>Cambridgeshire, Cornwall,<br>Suffolk, Dorset, Cumbria,<br>Wiltshire, Shropshire,<br>Northamptonshire, TSA Sports|Cambridgeshire, Cornwall,<br>Cricket East, Cricket Scotland,<br>Cumbria, Dorset,<br>Herefordshire, Isle of Wight,<br>Lincolnshire, Norfolk,<br>Northamptonshire,<br>Oxfordshire, Shropshire,<br>StreetGames, Suffolk, TSA<br>Sports, Wiltshire|
|£50,000 to £99,999|Oxfordshire, Hertfordshire,<br>Norfolk, Worcestershire,<br>Lincolnshire, Devon,<br>StreetGames, Derbyshire,<br>Cricket East, Hampshire,<br>Northumberland,<br>Buckinghamshire, Somerset,<br>Nottinghamshire,<br>Leicestershire, Durham,<br>Cheshire|Berkshire, Buckinghamshire,<br>Cheshire, Derbyshire, Devon,<br>Durham, Hampshire,<br>Hertfordshire, Kent,<br>Leicestershire,<br>Northumberland,<br>Nottinghamshire, Somerset,<br>Staffordshire, Sussex,<br>Worcestershire|
|£100,000 to £149,999|Berkshire, Staffordshire,<br>Sussex, Gloucestershire, Kent,<br>Essex, Cricket Wales|Cricket Wales, Essex,<br>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<br>Direct costs<br>**Gross profit**<br>Administrative expenses<br>Management charge payable to parent undertaking<br>**Profit for the financial year**<br>**Retained earnings**<br>Total retained earnings brought forward at 1 October 2021<br>Profit for the financial year<br>Distribution under Gift Aid to parent charity<br>**Total retained earnings carried forward**<br>**at 30 September 2022**<br>**Aggregate of assets and liabilities and reserves**<br>Assets<br>Liabilities<br>**Reserves**|**2022**<br>**£’000**<br>555<br>(198)<br>357<br>(94)<br>(46)<br>217<br>368<br>217<br>(368)<br>217<br>417<br>(200)<br>217|**2021**<br>**£’000**<br>600<br>(99)|
|---|---|---|
|||501<br>(92)<br>(41)|
|||368|
|||277<br>368<br>(277)|
|||368|
|||619<br>(251)|
|||368|



Page 36 



**CHANCE TO SHINE FOUNDATION LTD** 


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

|**12**<br>**Debtors**<br>Amount due from subsidiary<br>Voluntary income receivable<br>Fundraising events<br>Bad debt provision<br>Gift Aid receivable<br>Commercial activities<br>Prepayments<br>Accrued income<br>Other debtors|**Group**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>-<br>-<br>13<br>2<br>37<br>50<br>(3)<br>(7)<br>55<br>11<br>12<br>60<br>423<br>833<br>912<br>207<br>1<br>1<br>1,450<br>1,157|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>-<br>-<br>13<br>2<br>-<br>-<br>-<br>-<br>55<br>11<br>-<br>-<br>411<br>830<br>912<br>207<br>1<br>1<br>1,392<br>1,051|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>-<br>-<br>13<br>2<br>-<br>-<br>-<br>-<br>55<br>11<br>-<br>-<br>411<br>830<br>912<br>207<br>1<br>1<br>1,392<br>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<br>Fixed term deposit and notice<br>accounts (< 1 year)|**Group**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>2,538<br>2,916<br>2,877<br>2,365<br>5,415<br>5,281|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>2,180<br>2,433<br>2,877<br>2,365<br>5,057<br>4,798||
||||4,798|



## **14 Creditors: Amounts falling due within one year** 

|Amount due to subsidiary<br>Deferred income<br>Taxation & social security<br>Other creditors<br>Accruals|**Group**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>-<br>-<br>128<br>174<br>8<br>39<br>427<br>274<br>52<br>101<br>615<br>588|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>1<br>26<br>-<br>-<br>-<br>-<br>375<br>247<br>40<br>91<br>416<br>364|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>1<br>26<br>-<br>-<br>-<br>-<br>375<br>247<br>40<br>91<br>416<br>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<br>Released in year<br>New deferrals<br>Carried forward|**Group**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>174<br>123<br>(154)<br>(115)<br>108<br>166<br>128<br>174|**Company**<br>**2022**<br>**2021**<br>**£’000**<br>**£’000**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-||
||||-|



## **15 Movement in funds** 

|**Restricted funds**<br>Chance to Shine<br>Chance to Shine Schools<br>Chance to Shine Street<br>Primary Schools (ECB)<br>Street (Sport England)<br>**Unrestricted funds**<br>General funds<br>Designated fund<br>**Total funds**|**Reserves**<br>**Income**<br>**Costs**<br>**Reserves  Reserves**<br>**brought**<br>**2021/22**<br>**2021/22**<br>**Transfer**<br>**Carried**<br>**forward**<br>**In/(Out)**<br>**Forward**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>1,576<br>23<br>470<br>-<br>1,129<br>-<br>165<br>350<br>185<br>-<br>168<br>444<br>394<br>-<br>218<br>531<br>2,029<br>2,560<br>-<br>-<br>558<br>986<br>1,078<br>-<br>466|
|---|---|
||2,833<br>3,647<br>4,852<br>185<br>1,813|
||2,692<br>2,395<br>793<br>(725)<br>3,569<br>328<br>-<br>-<br>540<br>868|
||5,853<br>6,042<br>5,645<br>-<br>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<br>represented by:<br>-<br>Net current assets<br>Funds balance at 30 September 2021 are<br>represented by:<br>-<br>Net current assets|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**funds**<br>**£’000**<br>**£’000**<br>**£’000**<br> <br>4,437<br>1,813<br>6,250|
||4,437<br>1,813<br>6,250|
||**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**funds**<br>**£’000**<br>**£’000**<br>**£’000**<br> <br>3,020<br>2,833<br>5,853|
||3,020<br>2,833<br>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**<br>**Funds**<br>**£’000**<br>**Income from:**<br>Donations and grants<br>1,020<br>Activities for raising funds<br>600<br>**Investment income**<br>22<br>**Total income**<br>**1,642**<br>**Expenditure on:**<br>**Raising funds**<br>Costs of generating<br>voluntary income<br>267<br>Fundraising trading<br>186<br>**Charitable activities**<br>219<br>**Total resources expended**<br>**672**<br>Reserves transfer<br>(410)<br>**Net movement in funds**<br>560<br>**Fund balance brought**<br>2,460<br>**forward at 1 October 2020**<br>**Fund balance carried**<br>**forward at 30 September**<br>**2021**<br>**3,020**<br>**20**<br>**Sport England grant income and expenditure**<br>Grants receivable<br>Chance to Shine Street<br>Direct programme costs<br>Administrative expenses<br>Total expenditure|**Restricted**<br>**Funds**<br>**£’000**<br>3,102<br>-<br>-<br>**3,102**<br>475<br>-<br>3,235<br>**3,710**<br>410<br>(198)<br>3,031<br>**2,833**<br>**2021/22**<br>**£’000**<br>986<br>705<br>148<br>225<br>1,078||**2020/21**<br>**Total**<br>**Funds**<br>**£’000**<br>**4,122**<br>**600**<br>**22**<br>**4,744**<br>**742**<br>**186**<br>**3,454**<br>**4,382**<br>**-**<br>**362**<br>5,491<br>**5,853**<br>**2020/21**<br>**£’000**|
||||951|
||||527<br>159<br>97|
||||783|



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