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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 06531532 (England and Wales)

REGISTERED CHARITY NUMBER: 1128529

Report of the Trustees and Financial Statements for the Year Ended 31 March 2021 for Dame Kelly Holmes Trust

Dame Kelly Holmes Trust

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Contents of the Financial Statements
for the Year Ended 31 March 2021
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Page
Report oftheTrustees 1 to 9
Report of the IndependentAuditors 10 to 12
Statement of Financial Activities 13
Statement of Financial Position 14
Statement ofCash Flows 15
Notes to the StatementofCash Flows 16
Notes to the Financial Statements 17 to 31
DetailedStatementofFinancialActivities 32 to 33

Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. information set out on pages 1 to 9 form part of the Trustees’ Report.

The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Trustees’ Report - Overview of the Year

As with all charities, businesses and individuals, this year has been like no other in our history. For a charity that had delivered all of our programmes in a face-to-face setting, we were faced with a choice. We could close things down and ride out the storm or face the challenges head on and try and continue to support young people at a time when we knew they would need support like never before. The last year has been tough in so many ways but we are proud to look back and see what we have accomplished as a team in this period.

The pandemic has hit every section of society hard, but young people in particular will bear the brunt of the economic and emotional fallout for years to come. Unable to attend school, find work or socialise with friends and with youth unemployment and inactivity levels both worryingly high, funding to support young people is crucial now like never before.

This year we have continued to develop our offerings, not only consolidating existing programmes but using the opportunity to launch new programmes virtually and reach young people that potentially we would have struggled to engage with using our standard model. We have completely re-worked our programmes for this virtual world and we are proud that we've supported over 600 young people remotely and then back to face-to-face when restrictions allowed. While we can't wait to get back to working face-to-face as the norm, virtual delivery is now ingrained in what we do and can offer an additional level of support that we couldn't offer previously. Athletes in Liverpool can deliver a taekwondo session to a group in Folkestone and an inspirational footballer in the West Country can inspire young people in the North-East of England. We can now use these learnings to deliver a blended approach including face-to-face, virtual and digital to help us reach young people in the most suitable format. One of the exciting developments this year was working in partnership with Alder Hey Hospital in Liverpool to support young people to develop and maintain positive physical and mental wellbeing within their hospital beds and wards. Working with primary care teams and within a hospital setting is completely new to us but what we achieved in partnership through this pilot was truly wonderful and we hope will lead to an exciting new way of working in the year ahead.

This year, in partnership with Sport England, we continued to deliver our Get on Track for Wellbeing programmes in communities across the UK, to increase the physical and mental wellbeing of the young people living there. We have now engaged nearly 800 young people facing challenges in their everyday lives and based on the numbers who have completed the 12-month programme to date, the positive impact on young people's physical and mental wellbeing is very encouraging. For the first time we have been able to engage our young people through a wellbeing app which we piloted with young people on our programmes from November onwards. This new app is designed to offer continuous support between mentoring sessions and has been made possible thanks to funding from the Coronavirus Community Support Fund, distributed by The National Lottery Community Fund. The new apphas been rolled out to 100 young people and will allow us to evaluate the impact and effectiveness of the app in supporting young people with their physical and mental wellbeing, ahead of hopefully rolling it out to all young people on our programmes. The app has been developed by Dame Kelly Holmes and offers workouts, motivational messages, nutritional advice, and dietary tips plus so much more.

At the start of the calendar year, we were really pleased to have secured three new separate pots of funding that we will use to support more vulnerable young people facing disadvantage over the next few months, and in some cases years.

We are grateful to St James's Place Foundation, KKR and Sanctuary Supported Living for providing funding that will allow us to equip nearly 300 young people over the next two years with the positive behaviours and mindset needed to tackle the disadvantage they face due to inequality in their everyday lives. This improves their wellbeing, helps them build healthy relationships and unlocks the confidence, self-esteem and resilience to achieve in education, work and life.

We are also extremely grateful for a substantial legacy gift which we received during the year. It is truly wonderful to know that the charity meant so much to this person and the work we do with young people chimed so impactfully within their own life.

Within our education programmes we are proud to have delivered another year in partnership with AQA of the AQA Unlocking Potential programme. This aims to raise young people's aspirations and expectations on future life goals, whether from school to Further Education, Further Education to Higher Education, or into training and employment. Over the last nine years we have now supported nearly 500 young people through this programme.

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Dame Kelly Holmes Trust

Report of the Trustees

for the Year Ended 31 March 2021

AQA Unlocking Potential normally ends with a big celebration event in London, however of course this could not happen this year. Instead, we hosted a virtual celebration event which included a speech from Col. Dame Kelly Holmes, a review of the amazing social action projects and a prizegiving for students who had gone the extra mile during lockdown. We would like to thank all the students, teachers, athletes and AQA volunteers for working so hard on this year's programme and making it so special for all involved.

The last year also saw us deliver our new athlete training programme, More Than Medals. We have welcomed new athletes to the Trust who have undertaken a training programme and they are now supporting young people. Some of our new athletes include double Olympic gold champion Sarah Ayton, England Netball Roses Serena Guthrie, Beth Cobden and Gabriella Marshall, as well as BMX world championship Tre Whyte and the first male Jamaican diver to compete at an Olympic Games, Yona Knight-Wisdom.

Finally, we'd like to say thank you to Nicky Roche who stepped down as trustee in April 2020, for the exceptional service she has given fo the organisation, whilst welcoming Sue Piper, Helen Donovan, Catherine Baker and Martin Henlan to the Board. They all joined in November 2020 following an open recruitment process; each joining on an initial three-year term.

With the continued support of our committed trustees, athlete mentors, partner organisations and staff, we are confident that we will continue to positively impact the lives of the young people we support and the communities they live in.

Further information about our work and impact can be seen from our website or by referring to our Impact Report - which can be found here - https:/Avww.damekellyholmestrust.org/our-impact

Trustees Report - Statement of Public Benefit

The charity's Trustees have complied with their duty in Section 4 of the Charities Act 2011 to have due regard to Public Benefit guidance issued by the Charity Commission. The Trustees do not receive any private benefit from the charity.

The public benefit outcomes identified by Trustees with regard to the advancement of education are as follows:

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |i)|Supporting|disadvantaged|young|people|up|to|the age|of 25|and|helping|them|to|lead|a|more| |positive|life.| |ii)|The development|of a|new|inspiring|workforce from|retired|world|class|sporting|champions.| |iii)|Providing|engaging|learning|opportunities|to empower young|people|to develop|skills|to|raise| |their|aspirations,|realise|their|potential|and|have|their achievements|recognised,|thereby|reducing| |the|risk|of them|experiencing|social|exclusion|and|being|drawn|into|antisocial|or criminal|behaviour.| |iv)|Empowering|young|people|as|individuals|so|that they may|actively|engage|in|and|contribute|to| |the|planning|process|and|future|direction|of the|Charity|and|the|communities|in|which|they|live|and| |take|greater|responsibility|for planning|their|own|lives.|

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Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

STRATEGIC REPORT

Trustees Report- Financial and Strategic Review

Financial Review The Trust achieved total unrestricted and restricted income of £1.457m (2020: £1.228m) with total unrestricted and restricted expenditure of £789k (2020: £1.120m). this resulted in an unrestricted surplus for the year of £402k including £115k of donated shares (2020: £148k) and a restricted surplus for the year of £266k (2020:£39k deficit).

Our fund balances as at 31 March 2021 stand at Unrestricted: £540kand Restricted: £490k

COVID-19 had an impact on the Trust and can account for some variances in funds between the 2 financial years. We are carrying forward a much larger restricted balance than before. Due to the pandemic, particularly within the first half of the year, some programmes had to be postponed or ran virtually causing delays and project extensions. The Trust has worked extremely hard to adapt and for the second half of the year in particular, achieved great success in re-implementing these programmes at almost 'normal’ capacity. The restricted fund balances are fully accounted for and ringfenced for all appropriate future programmes.

Some of our unrestricted surplus can also be attributed to COVID-19. We took part in the Government's Furlough Scheme which meant that we received grants of £41k to support our staff and gratefully received COVID funds from the People's Postcode Lottery (£50k) as well as some smaller donations. We are extremely humbled and honoured to have received £229k from a will legacy at the end of the year.

As with last year, we have worked hard to ensure our procurement procedures are sufficiently in place so that expenditure is closely monitored and within budget in order to be able to achieve reserve levels that enable the Trust to run in a secure and comfortable position to carry out our purpose.

Review of the year

Even before the lockdown on 23 March 2020, we were adapting our programmes to support young people. When asked to avoid all non-essential travel, we started to conduct programmes virtually via Zoom. Looking back, Kelvin Batey delivered our first remote session on 17 March on our AQA Unlocking Potential programme which begun a period of huge innovation where we re-wrote our programme frameworks to enable to us to continue to engage young people remotely when we couldn't meet face to face.

With the country all at home, many of the traditional fundraising events stopped and charities across the country were worried about their income. Taking place the same weekend as the cancelled London Marathon, the 2.6 Challenge offered charities the chance to get involved in a national campaign that would raise awareness of the plight of charities and generate much needed funds. Leading the way over the weekend of 26 April our CEO, Ben Hilton cycled 260 miles on a borrowed turbo trainer in his house over three days and other team members took on challenges such as walking 26,000 steps, doing 260 press ups in a day and teaching a dog to perform 26 tricks in a row and much more besides. Our President Dame Kelly Holmes got involved by delivering virtual fitness classes and overall, we raised over £10,000 in one weekend.

Very quickly we realised the situation was going to be long term and so we quickly looked at technology available and the content and structure of the sessions we were able to deliver. Within two weeks of the lockdown, we started delivering shorter sessions more often to our groups and by May we were proud that we were managing to deliver 55% of our programmes entirely virtually, with the remaining unable to be delivered due to schools or community partners being unable to continue at that time.

Over the summer, our world class athletes delivered virtual Bite Size Briefings on topics such as Leadership, Communication and Motivation. Over 400 people attended these free lunchtime sessions to learn key skills and to hopefully provide a break from the stay-at-home routine. Additionally, our athletes contributed workout videos and wellbeing tips to the national #StaylInWorkOut campaign.

Outside of work, members of our team stepped up in their own time to help other people. Our Programmes Manager Sarah made PPE clothing for her local care home including masks, headbands and scrub bags and then through the charity For the Love of Scrubs, started making scrubs for her local hospital as well as fabric masks for a local pharmacy. In total Sarah made over 40 separate pieces of PPE in those early days when there was a nationwide shortage. Our Programmes Officer Ane volunteered at Salisbury Hospital, assisting the elderly with their personal care, helping them at mealtimes and basic rehabilitation. She described it as an absolute privilege to be the only ‘visitor’ these patients may have had.

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Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

One of the undoubted highlights of the Trust's year is the AQA Unlocking Potential celebration event, which in 2020 was scheduled to be held at London Zoo. Sadly, this wasn't possible but in conjunction with our media partners TMG, we delivered a brilliant virtual celebration event featuring a live awards presentation, videos highlighting the amazing work of the young people and an appearance from our President Dame Kelly Holmes. The event was fantastic and a reflection of the Trust's attitude over the last year to look at what can be done rather than focussing on what we can't do.

In early 2021 we rolled out the pilot of a new app to participants on our Get on Track for Wellbeing programme. The app, produced in partnership with Dame Kelly Holmes, provides guided fitness sessions from world class athletes, wellbeing tips and healthy nutritious recipes from our partners Chartwells, plus so much more. This app will continue to be developed to provide more support to young people in between sessions with our athletes. Additionally, we created and sent out wellbeing packs funded by the National Lottery to students on AQA Unlocking Potential and select other programmes that included clothing, a water bottle, a pedometer and more to help keep the groups active over the latest lockdown.

The last year really has been a year like no other and we couldn't have supported as many young people as we have without the support of our funders, delivery partners and athlete teams. As life hopefully begins to return to a new normal this summer, we will remember the lessons learned over the last 12 months and continue our work to support young people facing disadvantage due to inequality in their everyday lives to become the best version of themselves.

Income Generation

Our income is derived from Corporates, Trusts and Foundations, Fundraising events and Partnerships, Individual Giving and Public Funding. We aim to not be over reliant on any one funding source. Our restricted income totalled £689k with the largest source being Public Funding income (£253k) followed by Corporate Funding Income (£203k) and Trust and Foundations (£205k). Our largest contract during the year was delivered through Sport England (£201k), followed by The National Lottery (£87k) & AQA (£87k) as well as the continuation of existing and smaller contracts. We continue to be grateful to our multiple year supporters such as AQA, Blagrave Trust, Bridgend County Borough Council, GWR, Sanctuary Supported Living and Southeastern to namea few, for their ongoing support.

Our unrestricted income totalled £768k with the largest source being Donations and Legacies (£693k). The People’s Postcode Lottery continued to be a very important partner to the Trust and made a donation of £300k during the financial year. As mentioned above we were also extremely privileged and grateful for a legacy donation left to the Trust for £229k and a share donation valued at £115k

Internal Controls

The Trust has a revised clear and consistent strategy aligned to the organisational structure. The strategy has been developed to exploit identified opportunities whilst monitoring material risks and implementing appropriate internal controls to mitigate risks. The Trustees are ultimately responsible for internal controls and risk management. In acknowledgment of its responsibilities, the Trustees have closely monitored the following internal controls:

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Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

STRATEGIC REPORT

Financial review Financial Risks

Reserves

During the year, the Trustees reviewed the current reserves policy and accepted that it remains in line with the aims and vision of the Trust; the Board has been regularly reviewing funds within the scope of the reserves policy against latest risks, opportunities, financial outturn, plans and projections for the year. As of 31 March 2021, total funds are £1,029,832 (2020: £361,340). General Unrestricted funds are showing a balance of £539,753(2020: £137,775) and restricted funds a balance of £490,079 (2020: £223,565).

Free reserves of £421,931 have been calculated by reference to the unrestricted funds balance at the year-end less fixed assets of £117,822.

The Trustees are pleased to see that the growth in our reserves and as at 31st March 2021, we have enough in our general unrestricted reserves to support all beneficiaries above and beyond a six month period in the event of an orderly wind down - which is the key principle of our reserves policy. We are in this position due to the commitment, professionalism and knowledge of the Board and the staff team, and the continued confidence of our impact by our funders and supporters. The aim of the Trustees, as stated within the Trust's reserves policy, is to have sufficient free reserves set aside to cover six months close-down operating costs if needed. We continuously review this position and will keep monitoring it through both our Finance and Audit Committee and the Board.

Investment Policy

During the year, the Trustees reviewed the Trust's investment strategy and approved its ongoing application. The objectives of the investment policy are for the Trust to seek the best financial return within an acceptable level of risk for both long term and short-term reserves with the ability to meet unanticipated cash flow requirements. We also ensure that allocated restricted funding is invested short term with Board approval. The Trustees regularly review the investments that are held and approve any additional investment recommendations made by the executive team.

The total reserves held in investment accounts at 31 March 2021 was £65. (2020: £172).

2021/2022 Projections

As we move into 2021-2022 with excitement and confidence due to key diversification of income stream activities being launched and a number of multiyear strategic corporate partnerships already in the pipeline, we remain prudent as our traditional funding through public grants and trusts and foundations, remains uncertain as we return from the pandemic. However, we have robust cost controls in place and an agile structure to work from. With the prudency we have undertaken in our pipeline forecasting, we are aiming for a turnover of circa £1.247m for the financial year.

Remuneration Policy for staff and key management personnel

The pay of all staff is reviewed annually by the Board of Trustees as part of the budget process. The Board also approves any increments and performance related payments of senior staff in accordance with average earnings in the sector. In view of the nature of the charity, the Trustees benchmark against pay levels in other sport, education and young people charities.

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Dame Kelly Holmes Trust

for the Year Ended 31 March 2021

Report of the Trustees

STRATEGIC REPORT

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. During this year we continued to develop our new 'Risk Management System’. The Risk Management System provides:

This has identified that there are four primary risks which are recognised, monitored and managed at Board level:

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |1)|Safeguarding|of young|people|and|athletes|(incl.|code|of conduct &|data|protection).| |2)|Sustainable|funding|and|diverse|income streams|-|allowing|us|to|build|and|maintain|a|prudent|level| |of|reserves.| |3)|Governance|of the|Charity|and|in|particular|succession|of trustees|and|our commitment|to|Equality,| |Diversity|&|Inclusion|across|the|organisation.| |4)|Ongoing|risk|to|high|standards|of operational|delivery|and/or|blended|delivery|models|of our|services| |due|to the|pandemic.|

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All risks have been identified at Board and Committee level and are owned by Trustee Committee Chairs and appropriate Executive Senior Managers. Where individuals within the Trust have responsibility for monitoring budgets or other aspects of the control environment, we have ensured that they have appropriate skills and knowledge to carry out these tasks. In addition, we have developed a major overhaul of our data management systems as part of our GDPR compliance action plan, embedded a new policy for safeguarding alongside a staff training programme.

Health and Safety

We are committed to continual improvement in health and safety performance. We recognise our duty of care to personnel, volunteers, and members of the public and young people using our services. To ensure our policy is implemented and maintained, our Programmes Committee review our health and safety management and reporting to assist in compliance with health and safety legislation and good practice. We have a comprehensive welfare and safeguarding policy for all our work with young people and continue to review staff knowledge, training and processes and controls.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees’ Report - Structure, Governance & Management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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Dame Keily Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

Dame Kelly Holmes Trust is a Company Limited by Guarantee governed by ifs Articles of Association which were reviewed, amended and adopted by special resolution on 24 October 2018. It is registered as a Charity with the Charity Commission. We have a Code of Governance that sets out our internal governance structure and this is reviewed annually. Terms of reference are in place for all committees: The Programmes Committee is currently led by Nigel Boatswain, the Finance and Audit Committee is led by Paula Harris, the Income Generation Committee is led by Catherine Baker and the Remuneration and Nomination Committee is led by Ed Bracher. Committees meet quarterly prior to Board meetings, and they systematically review associated KPIs and targets for that goa! area, the risks linked to their goal and provide challenge and support to the Executive team. In addition, this year there have been joint meetings looking at challenges and ambitions across the Trust and key Trustees have provided additional support and challenge for wider staff members involved in income generation and equality, diversity & inclusion. All Trustees have an open invite to visit our programmes, meet with the young people and see our work first-hand and engage in an annual strategy planning day.

Trustee Recruitment: this year we have embedded our new trustee recruitment policy and processes as well as worked against our diversity action plan which sets out our commitment to maintain the current gender parity of the Board and ensuring at all times we have a minimum of 30% of each gender on the Board, to achieving gender parity on our Board committees, and to progressing towards greater diversity generally including (but not limited to) BAME, disability and LGBTQ+ on our Board and Board committees. When a need has been identified to recruit trustees the Remuneration and Nominations Committee manage the process. The committees aim to have at least two Trustee members, and meetings require a quorum of two including one trustee and one independent member. The Chair of the organisation is the Chair of the Remuneration and Nominations Committee except when it is dealing with the appointment of a successor to the chair, when it shall be chaired by an independent non-executive director. The role of the Remuneration and Nominations Committee is to monitor and review the structure and composition of the Board, leading the process for all Board appointments, submit recommendations for Board appointments to the Board for consideration and if appropriate, approval. In this financial year the Trust has welcomed to the Board Catherine Baker (Nov 20), Martin Henlan (Nov 20), Helen Donovan (Nov 20) and Sue Piper (Nov 20).

Catherine is an ex-City Lawyer who now focuses on developing people and strategy at Board and Executive level. In 2015, Catherine set up Sport and Beyond, a training and consulting company, one of the company's first partnerships was with the Dame Kelly Holmes Trust and Catherine is excited to continue her relationship with the charity now as a Trustee.

Martin is an experienced media and communications executive with a particular expertise in revenue generation. Before his career in media, Martin played basketball in a 15-year professional career which included representing both England and Great Britain. Inspired by the work of the Trust, Martin joins it intending to use his life experience in sport and media to support the young people that the Trust seeks to reach and the athletes who deliver its programmes.

Having worked in education and specialised in neurodiversity for 20 years, Helen is passionate about having good role models and opportunities for individuals to reach their potential. Helen has worked in Advertising, Events, Education and national and international charities in strategy and programme development. She currently Chairs the board of a football foundation and also the Advisory Committee of BBC Children in Need (SE).

Sue is a fundraising professional within the charity sector and professional strategic leader with 20 years’ non-profit experience. Working in the hospice sector and more recently the Scouts Sue is driven by helping to create a positive impact in society. She has great aspirations to continue to build upon the incredible success of the Dame Kelly Holmes Trust to extend the reach and benefit many more young people in the future.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06531532 (England and Wales)

Registered Charity number 1128529

Registered office

Ground Floor and Basement 7 Barton Buildings Bath BA1 2JR

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Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

Trustees

Ed Bracher Chairman Tina Angela Kokkinos Nicola Roche (resigned 17.4.20) Paula Harris Nigel Boatswain Joy Aboim Catherine Baker (appointed 20.11.20) Martin Henlan (appointed 20.11.20) Helen Donavan (appointed 20.11.20) Sue Piper (appointed 20.11.20)

4 formal board meetings were held in the year. Attendance was as follows:

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|||||| |---|---|---|---|---| |Out|of a| |Attended|possible| |Ed|Bracher|4|4| |Paula|Harris|4|4| |Nicola|Roche|0|0| |Tina|Angela|Kokkinos|4|4| |Nigel|Boatswain|4|4| |Joy Aboim|4|4| |Catherine|Baker|2|2| |Martin|Henlan|2|2| |Helen|Donovan|2|2| |Sue|Piper|2|2|

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Numbers indicate attendance whilst serving on the Board. In addition, trustees attended numerous calls throughout the year as we navigated the situation which we were all in. Their commitment and hours supporting the Exec team through this period has been resolute.

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||||| |---|---|---|---| |Auditors| |Morris|Crocker|Limited| |Chartered|Accountants|&|Statutory Auditor| |Station|House| |North|Street| |Havant| |Hampshire| |POS|1QU|

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Bankers HSBC 60 Fenchurch Street London EC3M 4BA

President

Colonel Dame Kelly Holmes

Chief Executive

Ben Hilton

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Dame Kelly Holmes Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland”

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Dame Kelly Holmes Trust

Report of the Trustees for the Year Ended 31 March 2021

STATEMENT OF TRUSTEES' RESPONSIBILITIES — continued

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

AUDITORS

The auditors, Morris Crocker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on the 27" of July 2021 and signed on the board's behalf by:

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Report of the Independent Auditors to the Members of Dame Kelly Holmes Trust

Opinion

We have audited the financial statements of Dame Kelly Holmes Trust {the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 the charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except io the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

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Report of the Independent Auditors to the Members of Dame Kelly Holmes Trust

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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

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

From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern.

Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues concerning grant, legacy and donation income and management override concerning the size of the organisation.

We set financial statement materiality level based on the level of income at £30,800. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality of £27,800.

Substantive audit tests were designed after assessing and testing systems and controls. The systems and controls which have been designed to act as a preventative measure against fraud and error were operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested.

Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override.

The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation.

Management assessed there is no going concern risk. The audit undertook a review of budgets, management accounts and the review of board minutes and came to the same conclusion as management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www. frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the !ndependent Auditors.

Page 11

Report of the Independent Auditors to the Members of Dame Kelly Holmes Trust

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. 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 auditors’ 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.

Paul Underwood (Senior Statutory Auditor)

for and on behalf of Morris Crocker Limited Chartered Accountants & Statutory Auditor Station House North Street Havant Hampshire PO9 1QU Date: unfree. Vov\

Page 12

Dame Kelly Holmes Trust

Statement of Financial Activities {Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2021

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||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME AND|ENDOWMENTS|FROM| |Donations and|legacies|2|693,114|-|693,114|439,541| |Charitable|activities|4| |Charitable|activities|74,793|689,177|763,970|788,172| |Investment|income|3|65|-|65|172| |Total|767,972|689,177|1,457,149|1,227,885| |EXPENDITURE ON| |Raising|funds|5|103,112|13,863|116,975|81,547| |Charitable|activities|6| |Charitable|activities|454,712|216,970|671,682|1,037,912| |Total|557,824|230,833|788,657|1,119,459| |NET|INCOME|210,148|458,344|668,492|108,426| |Transfers|between|funds|20|191,830|(191,830)|-|-| |Net movement|in|funds|401,978|266,514|668,492|108,426| |RECONCILIATION|OF|FUNDS| |Total|funds|brought forward|137,775|223,565|361,340|252,914| |TOTAL|FUNDS CARRIED|FORWARD|539,753|490,079|1,029,832|361,340|

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The notes form part of these financial statements

Page 13

Dame Kelly Holmes Trust (Registered number: 06531532)

Statement of Financial Position
31 March 2021
2021 2020
Notes £ £
FIXED ASSETS
Tangible assets 14 2,328 1,665
investments 15 115,494 -
117,822 1,665
CURRENT ASSETS
Debtors 16 252,975 36,163
Cash in hand 741,643 780,330
994,618 816,493
CREDITORS
Amounts falling due within oneyear 17 (82,608) (456,818)
NETCURRENTASSETS 912,010 359,675
TOTAL ASSETS LESS CURRENT LIABILITIES 1,029,832 361,340
NETASSETS 1,029,832 361,340
FUNDS 20
Unrestricted funds 539,753 137,775
Restricted funds 490,079 223,565
TOTALFUNDS 1,029,832 361,340

The financial statements were approved by the Board of Trustees and authorised for issue on the 27" of July 2021 and were signed on its behalf by:

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EdBracher-Trustee
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The notes form part of these financial statements

Page 14

Dame Kelly Holmes Trust

Statement of Cash Flows for the Year Ended 31 March 2021

2021 2020
Notes £ £
Cash flows from operating activities
Cash generatedfrom operations sf 78,146 580,917
Netcash provided by operating activities 78,146 580,917
Cash flows from investing activities
Purchase oftangible fixed assets (1,404) (1,722)
Purchase offixed asset investments (115,494) -
Interest received 65 472
Netcash used in investing activities (116,833) (1,550)
Change incashand cash equivalents in
the reporting period (38,687) 579,367
Cash andcash equivalents atthe
beginning ofthe reporting period 780,330 200,963
Cash andcash equivalents atthe end of
thereportingperiod 741,643 780,330

The notes form part of these financial statements

Page 15

Dame Kelly Holmes Trust

  1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Notes to the Statement of Cash Flows for the Year Ended 31 March 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Net income|for the|reporting|period|(as|per the|Statement|of|Financial| |Activities)|668,492|108,426| |Adjustments|for:| |Depreciation|charges|741|742| |Interest|received|(65)|(172)| |(Increase)/decrease|in|debtors|(216,812)|158,168| |(Decrease)/increase|in|creditors|(374,210)|313,753| |Net cash|provided|by|operations|78,146|580,917|

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Ds ANALYSIS OF CHANGES IN NET FUNDS

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||||||||| |---|---|---|---|---|---|---|---| |At|1.4.20|Cash|flow|At|31.3.21| |£|£|=| |Net|cash| |Cash|at|bank and|in|hand|780,330|(38,687)|741,643| |780,330|(38,687)|741 643| |Total|780,330|(38,687)|741,643|

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The notes form part of these financial statements

Page 16

Dame Kelly Holmes Trust

Notes to the Financial Statements for the Year Ended 31 March 2021

. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The Trustees consider that there are no materia! uncertainties about the Trust's ability to continue as a going concern. Due to the changes implemented in the previous year to ensure the continued operation in the future, the Trustees are confident that the changes made, and the confirmed grant funding received so far, we have sufficient income to meet the programmes planned for the year.

Detailed budgets and forecasts have been prepared for the year and management accounts comparing budget to actual are regularly received and reviewed by the Finance and Audit Committee as well as updates on the income position.

Income

Donations and Legacies income includes donations, gifts and legacies 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. Such income is only deferred when:

Other Fundraising Activities and Investment Income is recognised on a receivable basis.

Income from Charitable Activities includes income received under contract or where entitlement to grant funding is subject to specific conditions is recognised as earned (as the related goods and services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Expenditure

Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - Straight line over 3 years Computer equipment - Straight line over 3 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated Funds are unrestricted funds that the Trustees have set aside for a specific purpose.

Restricted funds can only be used for restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

  1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Volunteers and donated services

The value of services provided by volunteers is not incorporated into these financial statements.

Donated professional services, assets and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services, assets and donated facilities are recognised based on the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services, assets or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Financial instruments

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and investments in stocks and shares. The measurement basis used for these financial instruments is detailed below.

Debtors and cash at bank

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash held on deposit or in a current account.

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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2021 2020
£ £
Donated Services and facilities 136,243 22,351
Donations - Organisations 25,005 8,883
Events income 2,704 2,200
Players ofPeople’s Postcode Lottery 300,000 400,000
Individuals - donations 228,730 -
Workplace fundraising 432 6,107
693,114 439,541

Donated Services and Facilities related to:

Meeting Space £nil (2020: £2,365), Computer equipment £1,749 (2020: £Enil), Legal Fees £19,000 (2020: £19,986) & Shares (£115,000) (2020: £nil) provided to the Trust without charge during the year.

The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with FRS102 and the Charities SORP (FRS 102), the economic constitution of general volunteers is not recognised in the accounts. The charity has been donated shares in a company that was listed on the OTC Market in the USA from August 2020. These have been valued at fair value with a 1/3 discount from market value. Whilst the shares havea listed market value, the charity is restricted from selling any shares until September 2022. When these restrictions are lifted then the shares can be traded by the charity.

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continued...

Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

3. INVESTMENT INCOME
2021 2020
£ £
Depositaccount interest 65 172
4, INCOME FROM CHARITABLE ACTIVITIES
2021 2020
Activity
Grants
Charitable activities		 £
661,483		 5
788,172
Exceptional items Charitable activities 102,487 ~
763,970 788,172
Exceptional items, included in the above, are as follows:
2021 2020
£ £
Coronavirus Job Retention Scheme 40,700 -
People’s Postcode Lottery -COVID Emergency Fund 50,000 -
Laureus Sport
OtherCOVID related funds		 8,787
2,500i		 -
i-
—__102,487
Grants received, included in the above, are as follows:
2021 2020
£ £
AQA (Corporate) 87,391 94,457
Sanctuary Housing (Corporate) 54,176 -
Tai Calon (Corporate) - 13,390
Small corporate grants (Corporate) 10,000 -
London and North Eastern Railway (Corporate) - 31,780
Colyer Fergusson Charitable Trust (Trusts and Foundations) - 12,211
Blagrave Trust (Trusts and Foundations) 33,976 -
Small grants (Trusts and Foundations) 50,366 111
Bridgend County Borough Council (Public) 10,500 -
BBO Heartofthe SouthWest (Public) - 10,804
BBO Facing Forward (Public) 4,065 4,038
Comic Relief(Levelling the field) (Public) - 1,425
Dept. ofCommunities, NI (Public) - 211,143
GreatWestern Railway (Public) 33,060 -
Sport England Coastal Communities (Public) 200,978 374,667
NCS Trust (Public) - 14,621
VariousSchools (Public) 5,000 12,740
Athlete Visits (Public) - 6,785
Staying Connected (Public) 87,410 -
KKR Investments 51,501 -
St James Place Foundation 33,060 -
661,483 788,172

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

5. RAISING FUNDS
Raising donations and legacies
2021 2020
£ E
Staffcosts 93,614 57,789
Fundraising costs 23,361 23,758
116,975 81,547
6. CHARITABLE ACTIVITIES COSTS
Direct Support
Cosis (see costs (see
note 7) note 8) Totals
£ E £
Charitable activities 417,054 254,628 671,682
T DIRECTCOSTS OF CHARITABLE ACTIVITIES
2021 2020
£ £
Staffcosts 226,729 206,137
Programme delivery 190,325 547,044
417,054 753,181
8. SUPPORT COSTS
Governance
Management
£		 costs
ba		 Totals
£
Charitable activities 207 ,965 46,663 254,628
Support costs, included in the above, areas follows:
Management
2021 2020
Charitable
activities		 Total
activities
£ £
Wages 138,298 104,527
Rates and water - 54
Insurance 8,777 8,097
Telephone 4,585 2,459
Postage and stationery 2,147 2,059
Computer& website costs 23,140 36,502
Payroll processing costs 2,649 2,343
Recruitment 290 6,904
Subscriptions & training 5,364 16,134
Sundry expenses 1,910 994
Temporary staff, consultants and volunteer
costs
Travel & subsistence		 6,300
3,804		 14,927
24,773
Irrecoverable VAT 9,615 17,494
Bankcharges 345 579
Depreciation oftangible and heritage assets 741 742
207,965 238,588

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continued...

Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

8. SUPPORT COSTS- continued Governance costs

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||||||| |---|---|---|---|---|---| |2021|2020| |Charitable|Total| |activities|activities| |£|2| |Auditors’|remuneration|6,130|4,610| |Accountancy|fees|12,260|12,336| |Legal|fees|-|19,986| |Meeting|rooms|6,699|7,631| |Professional|fees|21,574|1,580| |46,663|46,143| |9.|NET|INCOME/(EXPENDITURE)| |Net|income/(expenditure)|is|stated|after|charging/(crediting):| |2021|2020| |£|£| |Auditors'|remuneration|6,130|4,610| |Depreciation|- owned|assets|741|740|

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  1. TRUSTEES’ REMUNERATION AND BENEFITS

During the year, the key management personnel of the Charity comprised of the Trustees and the Chief Executive Officer.

The total employee remuneration and benefits of the key management personnel of the Trust was £74,290 (2020: £76,108)

There was no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees’ expenses

During the last 2 years, no trustees have been reimbursed out of pocket expenses.

  1. STAFF COSTS

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Wages|and|salaries|412,270|332,184| |Social|security|costs|37,593|29,571| |Other|pension|costs|8,778|6,698| |458,641|368,453| |The|average|monthly|number|of employees|during|the|year was|as|follows:| |Charitable|20217|2020a| |Support|4|3| |Fundraising|3|__2| |14|12| |The|number|of employees whose|employee|benefits|(excluding|employer pension|costs)|exceeded|£60,000|was:|

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2021 2020 £60,001 - £70,000 1 1

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

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|||||||| |---|---|---|---|---|---|---| |12.|COMPARATIVES|FOR THE|STATEMENT OF|FINANCIAL ACTIVITIES| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND|ENDOWMENTS|FROM| |Donations|and|legacies|439,541|-|439,541| |Charitable|activities| |Charitable|activities|21,517|766,655|788,172| |Investment|income|172|-|172| |Total|461,230|766,655|1,227,885| |EXPENDITURE|ON| |Raising|funds|74,010|7,537|81,547| |Charitable|activities| |Charitable|activities|505,629|§32,283|1,037,912| |Total|579,639|539,820|1,119,459| |NET|INCOME/(EXPENDITURE)|(118,409)|226,835|108,426| |Transfers|between|funds|266,224|(266,224)|-| |Net movement|in funds|147,815|(39,389)|108,426| |RECONCILIATION|OF|FUNDS| |Total funds|brought forward|(10,040)|262,954|252,914| |TOTAL|FUNDS|CARRIED|FORWARD|137,775|223,565|361,340| |13.|ANALYSIS OF TOTAL INCOME AND|EXPENDITURE,|WITH|MATERIAL|PUBLIC|INVESTORS|

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|||||||| |---|---|---|---|---|---|---| |Other|public|Non|public| |SportsEngland|sectorincome|sector|income|Total| |£|£|£|£| |Revenue|Grants|200,978|124,915|335,590|661 ,483| |Other|income|-|40,700|639,472|680,172| |Total|income|200,978|165,615|975,062|1,341,655| |Support|costs|10,382|5,416|238,830|254,628| |Direct|staff|costs|20,000|28,840|177,889|226,729| |Local|Delivery|projects|92,211|19,418|78,696|190,325| |Other|costs|-|13,863|103,112|116,975| |Total|expenditure|122,593|67,537|598,527|788,657| |Transfers|between|funds|(32,882)|(108,835)|141,747|-| |Net income|/ (expenditure)|45,503|(10,757)|518,252|522,998|

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

14, TANGIBLE FIXEDASSETS
Fixtures
and Computer
fittings equipment Totals
& £ £
COST
At 1 April 2020 575 18,975 19,550
Additions 220 1,184 1,404
At 31 March 2021 795 20,159 20,954
DEPRECIATION
At 1 April 2020 500 17,385 17,885
Charge foryear 27 714 741
At 31 March 2021 527 18,099 18,626
NET BOOKVALUE
At 31 March 2021 268 2,060 2,328
At 31 March 2020 75 1,590 1,665
15. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKETVALUE (FairValue*)
Additions 115,494
NET BOOKVALUE
At 31 March 2021 115,494
At 31 March 2020 -
*FairValue has been derived from a 1/3rd reduction ofmarket value as at 31 March 2021)
The shares are currently listed on the OTC Market in the USA.
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debiors 4,252 22,271
Other debtors - 858
VAT 793 2,238
Prepayments and accrued income 250,930 10,796
252,975 _36,163

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

17. CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR 2021 2020
£ £
Trade creditors 3,097 2,150
Social securityand othertaxes 9,510 8,882
Other creditors 1,764 2,706
Accruals and deferred income 68,237 443 080
82,608 456,818
Deferred income less than 1 year 2021 2020
£ £
Resources deferred at 1 April 2020 300,300 -
Amounts released to incoming resources (300,000) -
Resources deferred in theyear - 300,300
300 300,300
  1. LEASING AGREEMENTS Minimum lease payments under non-cancellable Within one year 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021 2020
£ =
Within one year - 3,795
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Fixed assets 2,328 - 2,328 1,665
Investments 115,494 - 115,494 -
Current assets 504,539 490,079 994,618 816,493
Current liabilities (82,608) - (82,608) (456,818)
539,753 490,079 1,029,832 361,340

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

20. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3:24
£ £ £ £
Unrestricted funds
General fund 121,641 198,453 183,344 503,438
National Citizenship Service 484 (311) - 173
Project contributions to Comms - 5,306 5,086 10,392
Project contributions to M&E - 4,695 ~ 4,695
Projectcontributions to Training 15,650 2,005 3,400 21,055
137,775 210,148 191,830 539,753
Restricted funds
AQA - Unlocking Potential 12,181 53,970 (39,195) 26,956
Building Better Opportunities - Heart ofthe
South West 3,316 - (3,316) -
Bridgend - Geton Track 7,250 3,521 (2,271) 8,500
Building Better Opportunities - Facing
Forward (4,065) - - (4,065)
Careersand Enterprises Company -
Mentoring Fund 2,114 (2,114) - -
Colyer-Fergusson Charitable Trust - Geton
Track 220 - (220) -
Comic Relief (Levelling the Field) - 7,245 (7,245) -
Department ofCommunities - Northern
Ireland 18,495 (5,109) (13,386) -
Hodge Foundation -OnTracktoAchieve 1,805 (225) (1,580) -
Kent Community Foundation -Geton
Track 1,311 (1,047) (264) -
London and North Eastern Railway 2,500 (350) (2,150) -
Sanctuary Housing - Supported Living -
GetOn Track 3,107 48,676 (4,169) 47,614
Shire - On Track toAchieve 1,712 4,698 (6,410) -
Sport England - Coastal Communities 165,233 78,384 (32,882) 210,735
Tai Calon - Geton Track 450 - (450) -
Various schools - On Track toAchieve 7,936 (1,081) (3,977) 2,878
Wiltshire (Blagrave Trust)—Get on Track - 32,517 (3,498) 29,019
Jersey Sport - (1,220) - (1,220)
Southwestern CCIF - Get on Track - 7,162 (1,617) 5,545
Staying Connected (TNL) - 73,975 (68,500) 5,475
Leadership in Sport - 1,100 (700) 400
Victoria Special School Charitable trust -
On track to Achieve - 5,000 - 5,000
Wales On Track toAchieve - 11,020 - 11,020
SJPF On Track to Achieve - 34,560 - 34,560
AOC Leadership Programme Resources - 6,000 ~ 6,000
On Track toAchieve - DRWx6
Programmes, Materials and Workbooks - (229) - (229)
PeterSowerby - Alderhay - 9,390 - 9,390
KKR - 51,501 - 51,501
Beacon Hill
-On Track to Achieve		 - 2,440 - 2,440
GreatWestern Railway - On Track to
Achieve CCIF - 33,060 - 33,060
SH Virtual Workshops - 5,500 - 5,500
223,565 458,344 (191,830) 490,079
TOTALFUNDS 361,340 668,492 - 1,029,832

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

20. MOVEMENT IN FUNDS- continued

Net movement in funds, included in the above are as follows:

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|||||||||| |---|---|---|---|---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|754,966|(556,513)|198,453| |National|Citizenship|Service|-|(311)|(311)| |Project|contributions|fo|Comms|5,306|-|5,306| |Project|contributions|to|M&E|4,695|-|4,695| |Project|contributions|to Training|3,005|(1,000)|2,005| |767,972|(557,824)|210,148| |Restricted|funds| |AQA|-|Unlocking|Potential|87,391|(33,421)|53,970| |Bridgend|-|Get on|Track|7,000|(3,479)|3,521| |Building|Better|Opportunities|-|Facing| |Forward|4,065|(4,065)|-| |Careers|and|Enterprises|Company|-| |Mentoring|Fund|-|(2,114)|(2,114)| |Comic|Relief|(Levelling|the|Field)|-|7,245|7,245| |Department|of Communities|-|Northern| |Ireland|-|(5,109)|(5,109)| |Hodge|Foundation|-|On|Track|to Achieve|-|(225)|(225)| |Kent Community|Foundation|-|Get|on| |Track|-|(1,047)|(1,047)| |London|and|North|Eastern|Railway|-|(350)|(350)| |Sanctuary|Housing|-|Supported|Living|-| |Get|On|Track|48,676|-|48,676| |Shire|-|On|Track|to Achieve|8,011|(3,313)|4,698| |Sport|England|-|Coastal|Communities|200,977|(122,593)|78,384| |Various|schools|-|On|Track|to Achieve|-|(1,084)|{1,081}| |Wiltshire|(Blagrave|Trust) —Get on|Track|33,976|(1,459)|32,517| |Jersey|Sport|-|(1,220)|(1,220)| |Southwestern|CCIF|-|Get|on|Track|10,000|(2,838)|7,162| |Staying|Connected|(TNL)|87,410|(13,435)|73,975| |Leadership|in|Sport|1,900|(800)|1,100| |Victoria|Special|School|Charitable|trust|-| |On|track|to|Achieve|5,000|-|5,000| |Wales|On|Track|to Achieve|11,020|z|11,020| |SJPF|On|Track|to Achieve|34,560|-|34,560| |AOC|Leadership|Programme|Resources|6,000|-|6,000| |On|Track|to|Achieve|-|DRW x|6| |Programmes,|Materials|and|Workbooks|-|(229)|(229)| |Peter Sowerby|-|Alderhay|9,990|(600)|9,390| |KKR|51,501|-|51,501| |Beacon|Hill|- On|Track|to Achieve|2,440|-|2,440| |Great Western|Railway|- On|Track to| |Achieve|CCIF|33,060|-|33,060| |SH|Virtual|Workshops|5,500|-|5,500| |Coronavirus|Job|Retention|Scheme|40,700|(40,700)|7| |689,177|(230,833)|458,344| |TOTAL FUNDS|1,457,149|(788,657)|668|492|

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

  1. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.20
£ £ £ =
Unrestricted funds
General fund (48,927) (117,549) 288,117 121,641
Athlete Visits 949 (949) - -
Flintshire - Get on Track 3,408 - (3,408) -
Kent Community Fund - OnTrackto
Achieve 5,000 (1,463) (3,537) -
London and South East Colleges - Geton
Track - 1,805 (1,805) -
National Citizenship Service 2,473 4,646 (6,635) 484
On Track toAchieve 4,530 - (4,530) -
Project contributions to Training 14,150 - 1,500 15,650
Prudential 7,949 (4,899) (3,050) -
South Eastern 180 - (180) -
YEI—Nottingham Geton Track 248 - (248) -
(10,040) (118,409) 266,224 137,775
Restricted funds
AQA - Unlocking Potential 17,803 16,120 (21,742) 12,181
Building Better Opportunities - Heart ofthe
South West 4,496 2,371 (3,551) 3,316
Bridgend - Get on Track 25,319 (4,050) (14,019) 7,250
Building Better Opportunities - Facing
Forward 8,396 (7,710) (4,751) (4,065)
Careers and Enterprises Company -
Mentoring Fund 20,317 1,665 (19,868) 2,114
Colyer-Fergusson Charitable Trust - Get on
Track - 8,461 (8,241) 220
Comic Relief(Levelling the Field) 23,768 (12,789) (10,979) -
Department ofCommunities - Northern
ireland - 76,731 (58,236) 18,495
GreaterLondon Authority 1,450 - (1,450) ~
GreatWestern Railway - Newport Get on
Track 1,256 (890) (366) -
GreatWestern Railway - Swindon - Get on
Track 26,873 (12,476) (14,397) -
Hodge Foundation - OnTrack to Achieve - 3,405 (1,600) 1,805
Kent Community Foundation -Geton
Track - (380) 1,691 1,311
Londonand North Eastern Railway - 8,495 (5,995) 2,500
Sanctuary Housing - Supported Living -
GetOn Track 53,982 (30,875) (20,000) 3,107
Shire - On Track to Achieve - 1,712 - 1,712
Sport England - Coastal Communities 41,881 197,869 (74,517) 165,233
Tai Calon - GetonTrack - 3,940 (3,490) 450
Various schools -On TracktoAchieve 10,876 1,485 (4,425) 7,936
Wiltshire (Blagrave Trust) —GetonTrack 22,550 (17,149) (5,401) -
YourConsortium 2,962 (9,100) 6,138 2
Small Restricted grants 1,025 - (1,025) =
262,954 226 835 (266,224) 223,565
TOTALFUNDS 252,914 108,426 - 361,340

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Dame Kelly Holmes Trust

  1. MOVEMENT IN FUNDS- continued

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

Comparative net movement in funds, included in the above are as follows:

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |E|£|=| |Unrestricted|funds| |General|fund|437,824|(655,373)|(117,549)| |Athlete Visits|2,805|(3,754)|(949)| |Corporate|training|fund|2,000|(2,000)|-| |Kent|Community|Fund|- On|Track|to| |Achieve|-|(1,463)|(1,463)| |London|and|South|East|Colleges|-|Get|on| |Track|3,980|(2,175)|1,805| |National|Citizenship|Service|14,621|(9,975)|4,646| |Prudential|-|(4,899)|(4,899)| |Restricted|funds|461,230|(579,639)|(118,409)| |AQA|-|Unlocking|Potential|94,457|(78,337)|16,120| |Building|Better|Opportunities|-|Heart|of the| |South|West|10,804|(8,433)|2:371| |Bridgend|- Get on|Track|-|(4,050)|(4,050)| |Building|Better|Opportunities|-|Facing| |Forward|4,038|(11,748)|(7,710)| |Careers|and|Enterprises|Company|-| |Mentoring|Fund|-|1,665|1,665| |Colyer-Fergusson|Charitable Trust|-|Get on| |Track|42,211|(3,750)|8,461| |Comic|Relief|(Levelling the|Field)|1,425|(14,214)|(12,789)| |Department|of Communities|-|Northern| |Ireland|211,143|(134,412)|76,731| |Great Western|Railway|-|Newport|Get|on| |Track|-|(890)|(890)| |Great Western|Railway|-|Swindon|-|Get|on| |Track|-|(12,476)|(12,476)| |Hodge|Foundation|- On|Track to Achieve|4,530|(1,425)|3,405| |Kent|Community|Foundation|-|Get|on| |Track|-|(380)|(380)| |London and|North|Eastern|Railway|31,780|(23,285)|8,495| |Sanctuary|Housing|-|Supported|Living|-| |Get On Track|-|(30,875)|(30,875)| |Shire|- On|Track|to Achieve|2,500|(788)|1,712| |Sport|England|-|Coastal|Communities|374,667|(176,798)|197,869| |Tai|Calon|-|Get on Track|13,390|(9,450)|3,940| |Various|schools|- On Track to Achieve|5,710|(4,225)|1,485| |Wiltshire|(Blagrave|Trust) —Get|on|Track|-|(17,149)|(17,149)| |Your Consortium|-|(9,100)|(9,100)| |766,655|(539,820)|___226,835| |TOTAL FUNDS|41,227,885|(1,119,459)|108,426|

----- End of picture text -----

Unrestricted funds

Athlete Visits Various one off visits / workshops from athletes to schools and / or community organisations.

Corporate Training Fund Various one off visits/workshops from athletes to corporate organisations.

Kent Community Foundation - On Track to Achieve

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

20. MOVEMENT IN FUNDS- continued

Funded through the Kent Community Foundation, we are delivering our On Track to Achieve programme in Kent to young people facing disadvantage to increase their confidence, self-esteem and resilience to raise their aspirations to improve their educational outcomes

National Citizenship Service

Our team of World Class athlete mentors are trained to deliver personal and social development activities to young people. Through a range of NCS local delivery partners, our athletes have delivered a range of inspirational and motivational sessions aligned to the programme using these skills as well as their status as inspirational role models.

Project contributions to Comms

Represents funds set aside for communication costs.

Project contributions to M&E

Represents funds set aside for monitoring and evaluation costs.

Project contributions to Training

Represents funds set aside for staff and athlete training costs.

Prudential A corporate donation to support young people with their physical wellbeing so they are able to participate in the PruGoals Ride London event.

Restricted funds

AQA - Unlocking Potential

This is a partnership programme whereby the Trust is funded to deliver the AQA Unlocking Potential programme

Building Better Opportunities - Heart of the South West

A contract funded by the National Lottery Community Fund and the European Social Fund titled "Empowering Enterprise 18-24" in the Heart of the South West to deliver Get on Track in Devon as part of the Building Better Opportunities programme funded by the Big Lottery Fund and the European Social Fund titled "Empowering Enterprise 18-24" project led by Petroc.

Bridgend - Get on Track

Bridgend City Borough Council awarded a grant to deliver Get on Track in Bridgend.

Careers and Enterprises Company Mentoring Fund

A contract to deliver our On Track to Achieve projects to schools in London and Bradford

Department of Communities - Northern Ireland

A grant to deliver a young leaders and ambassadors project within the Uniting Communities programme.

Hodge Foundation - On Track to Achieve

Funded through the Hodge Foundation, we are delivering our On Track to Achieve programme in Bridgend to young people facing disadvantage to increase their confidence, self-esteem and resilience to raise their aspirations to improve their educational outcomes.

Kent Community Foundation - Get on Track

Kent Community Foundation have awarded a grant to part fund our Get on Track project in Kent.

London and North Eastern Railway

Through the Customers, Communities Improvement Fund, we delivered a Get on Track programme to young people facing disadvantage in Edinburgh

Sanctuary Housing - Supported Living

A corporate grant to deliver Get on Track for Employability for 16-25 years old residents of Sanctuary Supported Living in various areas of England.

Shire - On Track to Achieve

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

20. MOVEMENT IN FUNDS- continued

Funded through Leicestershire County Councils Community Grant, we are delivering our On Track to Achieve programme to young people facing disadvantage to increase their confidence, self-esteem and resilience to raise their aspirations to improve their educational outcomes.

Sport England - Coastal Communities Sport England have awarded a lottery grant over a two-year period to allow the Trust to deliver its revised Get on Track programme to tackle inactivity in young people in 8 deprived coastal communities in England.

Tai Calon - Get on Track

Tai Calon have awarded us a grant to deliver Get on Track for Employability in Blaenau Gwent.

Various schools - On Track to Achieve Funded through grants and directly from schools we are delivering our On Track to Achieve programme to young people facing disadvantage to increase their confidence, self-esteem and resilience to raise their aspirations to improve their educational outcomes

Wiitshire (Blagrave Trust) - Get On Track

Blagrave Trust awarded us a grant to deliver Get on Track in Wiltshire.

The National Lottery - Staying Connected

The National Lottery awarded us funds to deliver our Staying Connected project to aid community support during COVID times.

AOC - Leadership in Sport AOC awarded us a grant to deliver online leadership programmes

Peter Sowerby Foundation - Alderhey Pilot Peter Soweby awarded us a grant to deliver the digitalisation of ,,Ready, Steady, Go' a pilot campaign to encourage young people to become more activity both in the hospital and once they return home after their stay. This was based in Alderhey Hospital, Liverpool. KKR Rockerfella Philanthropy Advisors awarded a grant on behalf of it's sponsored project 'KKR Covid Response Fund’ This is to support 40 disadvantaged young people living in West London.

Various On Track to Achieve Programmes delivered at schools Funded by: 29th May 1961 Charitable Trust Bridgend CBC Moondance Foundation St James Place Foundation Dallaglio Rugby Works West Midlands PCC The Eveson Trust GWR Swindon

Any funds in deficit have sufficient funding in the next financial year to fund this shortfall.

Transfers between funds

The transfer between funds relates to:

a) movements of funds where restricted income can be justifiably matched against unrestricted expenditure and overhead expenditure in line with the terms of the grant, and

b) designation of unrestricted funds by the Trustees for specific areas of the Trust's work.

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Dame Kelly Holmes Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

21. RELATED PARTY DISCLOSURES

During the year there were no related party transactions (2020: none).

22. ULTIMATE CONTROLLING PARTY

The charitable company is not under the control of another entity or one individual.

Page 31

Dame Kelly Holmes Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

2021 2020
£ £
INCOMEAND ENDOWMENTS
Donationsand legacies
Donated Services and facilities
Donations - Organisations
Events income
Players ofPeople’s Postcode Lottery
Individuals -donations
Workplacefundraising		 136,243
25,005
2,704
300,000
228,730
432		 22,351
8,883
2,200
400,000
-
6,107
693,114 439,541
Investment income
Depositaccount interest 65 172
Charitable activities
Grants
Exceptional items		 661,483
102,487		 788,172
-
763,970 788,172
Total incoming resources 1,457,149 1,227,885
EXPENDITURE
Raising donations and legacies
Wages
Fundraising costs		 93,614
23,361		 57,789
23,758
116,975 81,547
Charitable activities
Wages
Social security
Pensions
Programme delivery		 180,358
37,593
8,778
190,325		 169,868
29,571
6,698
547,044
417,054 753,181
Supportcosts
Management
Wages
Rates andwater		 138,298
-		 104,527
54
Insurance
Telephone
Postage and stationery
Computer&website costs
Payroll processing costs
Recruitment
Subscriptions & training
Sundryexpenses
Temporary staff, consultants and volunteer		 8,777
4,585
2,147
23,140
2,649
290
5,364
1,910		 8,097
2,459
2,059
36,502
2,343
6,904
16,134
994
costs
Travel &subsistence
irrecoverableVAT
Bank charges		 6,300
3,804
9,615
345		 14,927
24,773
17,494
579
Carriedforward 207,224 237,846

This page does not form part of the statutory financial statements

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Dame Kelly Holmes Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

2021 2020
£ £
Management
Brought forward 207,224 237,846
Depreciation of tangible and heritage assets 741 742
207,965 238,588
Governance costs
Auditors' remuneration 6,130 4,610
Accountancy fees 12,260 12,336
Legal fees - 19,986
Meeting rooms 6,699 7,631
Professional fees 21,574 1,580
46,663 46,143
Total resources expended 788,657 1,119,459
Netincome 668,492 108,426

This page does not form part of the statutory financial statements

Page 33

Dame Kelly Holmes Trust

Roger’s Story

rm currently doing a course at the City of Liverpool coast et College which is where | heard about the Get on Track 4 oe a ee ice reallyprogramme.enjoy playingI’ve alwaysdartsbeenand poolinto football,in the pu b ,utall| alsothat et. oefe 7. 4> | kind of stuff. | We started the programme last year and then had a break pol ' when lockdown started but all the way through, our athlete ’ po * mentor Neil has been great, he’s a really sound bloke. We j ae - acmens 4 did lots of stuff at the start of the programme around mental ‘ a a f ¥ hernay 2 " health, how to deal with life issues and things like that. It = , f= 4 really felt like we were learning to respect people and a > learning to grow. As a Scouser Neil will tell it to you straight gta ae . if you need to do something but he’s always keen to help ’ ra " ’ ‘r peopie. He’s a great role model for all of us. if r =] We've done loads of fitness stuff with Neil, every session he y 7 ' gets us doing something. He’s got us doing circuit sessions, : ; } playing table tennis and of course he took us skateboarding. If ’m honest, ! never really liked doing fitness stuff but I'm Now the programme's coming to an end, I’m a /ot fitter. I’m 18 stone right now and know | need to get fitter and lose going to the gym loads more after speaking to Courtney, | weight if I'm going to do the things | want to do. play football more again, I'm boxing 2-3 days a week, I'm ; ; ; just getting healthier. Neil also introduced us to other athletes who've delivered sessions for us. We've done taekwondo with Henry Cookey It's definitely a once in a lifetime opportunity to work with and boxing with Courtney Fry. Meeting Courtney was elite athletes. You have to take these opportunities when absolutely boss! | want to be a boxer, so it was great to you see them. I’m grateful that | got the chance to meet meet someone like that who’s achieved so much. | thought them, it’s been amazing for me. Not many people have this I'd blown it as the first thing | said to him was ‘aren't you the opportunity so it's great. bloke who lost to Roy Jones Jnr’ but he was great about it. Following the session at college, ve worked with him a bit ’'d 100% recommend Get on Track. I’ve been to multiple outside of the programme, it's amazing to think I’ve done colleges and schools and this course is just brilliant. I’ve pad work with someone who's beena pro. learned how to speak better, become more confident and : Seeing someone who's been there and done it all, it’s great, we've all learned loads over the last six months. you definitely want to listen to them. Hearing them explain Roger attended the Get on Track for Wellbeing programme that it was not easy but if you put your all into it you can in Liverpool. Thanks to funding from Sport England, we are achieve great things was really inspiring. working with 700 young people in coastal communities all Neil Danns, Danns, Athlete Mentor Mentor across England to help them become more active.

Neil Danns, Danns, Athlete Mentor Mentor

Roger has really grown in confidence as the programme has progressed and he’s really shown himself to be a strong leader in the group. He’s working on his fitness and doing loads more activity now.

f'm doing a white-collar boxing match in August to raise money for a mental health charity. I’ve been training for three months for it. The training has been so hard but | know | need to lose weight and ! need fo get healthier. | want to do stuff like that, and | knowif | want to box, | need to get fitter.

Aside from the fitness stuff, 've gained more confidence on the course as well. We were all asked to do a 3 or 4 minute story in front of the group and no one else got up to do it, so | got up and did it first to show other people it wasn’t that hard. After that a few other people got up and spoke after me. It's not just me Neil’s helped, other lads on the course have become less shy throughout the programme. Not everyone finds it easy to talk out loud and Neil has really helped—with that. Our athletes transform young * LOTTERY | SPORT people’s lives. FUNDED Alé@ ENGLAND Find out more at: www.damekellyholmestrust.org

This page does not form part of the statutory financial statements

Page 34