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← Beyond Sport Foundation

2023-12-31-accounts

Beyond Sport Foundation Trustees, Report (Including Directors, Report) For the year ended 31 December 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in not& I to the financial statements and comply with the charity's governing document, the Comp8nies Act 2006 and Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities pr&paring their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FR5 1021" leffective l January 20191. Oblectlves and actlvltles The charity's objectives are to promote the use tsf sport for Social change. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance During the period the charity h35 5UCCe5sfully received funding from corporate and individual donor5 to fund projects undertaken in the 58rne period. The charity wrote grant5 to 38 organi58tions in the period as detailed in not& 4. Financial review The charity received £2,641,41112022 EI,230,9851 of funds in the period. It incurred charitable expenditure in the period of £1,705,55412022 - £948,168), and other costs of £769,53112022 £422,945). The closing balance on unrestricted funds and toral funds amounted to a deficit of £83,88812022- a deficit of £250,214). As at the Balance Sheet date the charity has net liabilities of £83,888. 8en£hmark Sport Holdings Lirnited, a company with directors that are also trustees of 8eyond Sport Foundation, has agreed to provide financial support to the charity so that it can meet it5 liabilitie5 a5 they fall due, for at least twelve tnonth5 from the date of approval of the financial staternents. Based on the above support the tru5tee5 have a reasonable expectation that the charity ha5 adequate re50urce5 to continue in operational eKi5tence for the foreseeable future. Thus the tru5tee5 continue to adopt the going concern ba515 of accounting in preparing the financial statements. The tru5tee5 believe that the cornpany should hold in reserve5 a sufficient cushion of fund5 to enable it to continue to exist through a period of reduced income. and should it be necessary to ce85e to operate and wind up in an orderly fashion. The trustees consider the desirable level of reserves for this purpose to be 6 months of operational expenditure. There is a deficit on unrestricted funds of £83.88812022- a deficit of £250,214). The charity continues to seek funding and th& trustees believe that the charity's affairs ar& uncomplicated and costs can be e3sily controlled. The trustees are committed toward building the r&serves to the required level and based upon financial projections and continued support from related entiti&s the charitv will have adequate r&sources to meet its liabilities as they fall due. Public benefit requirements The trustees h3ve referred to guidance in the Charity Commission's general guidance on Public Benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objertives they hav& set.

Beyond Sport Foundation Trustees, Report (Including Directors, Report) {Continued) For the year ended 31 December 2023 Plans for futu￿ periods 2023 witnessed continued revenue growth for Beyond Sport in the majority of Streams of fundraising secured. The tearn continued to deliver to its largest partnerships with huge succes5, while focus5ing efforts on increasing sourcing of funding that were mor& sust8inable li.e. multi-yearl than previous. We hav& continued to enhance our internal governance processes to ensure we 8re streamlined, transpar&nt and compliant to great eff&ct. We h3ve also t3ken huge lengths to managing our cost base, ensuring we were able to P3y off a large portion ol the loan at year end. As we look ahead, 2024 plans include another scale up in terms of fundraising growth with several new partnerships being secured. Our Board has stepped up its support of rhe team and we have several plans in place for 2024 that include a fundraising gala and other efforts to utilise the support they can bring. Structure, 8overnan¢e and mana8ement The charity is a cornpany limited by guarantee governed by it5 Memorandum ol Association dated 23 July 2008. It is registered as a charity with the Charity Commission in England and Wales. The trustees who Served during the year and up to the date o151Bnature of the financial 5taternents, of which N Keller and R Becker are a150 the director5 lor the purpose ol company law, were.. R Becker A Chalat N Keller M de Carvalho J Gle3sure K Nascimento A Shab3ZZ J Teik Oon C Rogers J Afterman S Moloko (Resigned 22 March 20241 (Resigned 9 February 20241 (Resigned 11 December 20231 Trustees are appointed or reappointed by the Board or at the AGM. New tru5tee5 are invited to familiari5e thern5elve5 Wlth the charity and the context within which it operates by attending a briefing session led by the chairman of the Board. No rernuneration is paid to tru5te&5 for their service. Auditor In accordance with the company's articles, a resolution proposing that Gilberts Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting.

Beyond Sport Foundation Trustees, Report (Including Directors, Report) {Continued) For the year ended 31 December 2023 Disclosure of information to auditor Each of the trustees has confirmed that there is no information of which they are aware which 15 relevant to the audit. but of which the auditor 15 unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees. report was approved by the Board of Trustees. Eecke David Becker Isep 2 K, 2024 11..02 GMT+ll R Becker Trustee 27 September 2024

Charity registration number 01130439

Company registration number 06659482 (England and Wales)

Beyond Sport Foundation

Annual Report and Financial Statements

For the year ended 31 December 2023

Beyond Sport Foundation

Contents

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent auditor's report 5 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 22

Beyond Sport Foundation

Legal and administrative information

Trustees R Becker
A Chalat
N Keller
J Gleasure
K Nascimento
A Shabazz
C Rogers
J Afterman
Charity number 01130439
Company number 06659482
Principal address 110 High Holborn
5th Floor
London
WC1V 6JS
Registered office 110 High Holborn
5th Floor
London
WC1V 6JS
Auditor Gilberts Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ

Beyond Sport Foundation

Trustees' Report (Including Directors' Report)

For the year ended 31 December 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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).

Objectives and activities

The charity's objectives are to promote the use of sport for social change.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the period the charity has successfully received funding from corporate and individual donors to fund projects undertaken in the same period. The charity wrote grants to 38 organisations in the period as detailed in note 4.

Financial review

The charity received £2,641,411 (2022 - £1,230,985) of funds in the period. It incurred charitable expenditure in the period of £1,705,554 (2022 - £948,168), and other costs of £769,531 (2022 - £422,945). The closing balance on unrestricted funds and total funds amounted to a deficit of £83,888 (2022 - a deficit of £250,214).

As at the Balance Sheet date the charity has net liabilities of £83,888. Benchmark Sport Holdings Limited, a company with directors that are also trustees of Beyond Sport Foundation, has agreed to provide financial support to the charity so that it can meet its liabilities as they fall due, for at least twelve months from the date of approval of the financial statements.

Based on the above support the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The trustees believe that the company should hold in reserves a sufficient cushion of funds to enable it to continue to exist through a period of reduced income, and should it be necessary to cease to operate and wind up in an orderly fashion. The trustees consider the desirable level of reserves for this purpose to be 6 months of operational expenditure. There is a deficit on unrestricted funds of £83,888 (2022 - a deficit of £250,214). The charity continues to seek funding and the trustees believe that the charity's affairs are uncomplicated and costs can be easily controlled. The trustees are committed toward building the reserves to the required level and based upon financial projections and continued support from related entities the charity will have adequate resources to meet its liabilities as they fall due.

Public benefit requirements

The trustees have referred to guidance in the Charity Commission's general guidance on Public Benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Beyond Sport Foundation

Trustees' Report (Including Directors' Report) (Continued)

For the year ended 31 December 2023

Plans for future periods

2023 witnessed continued revenue growth for Beyond Sport in the majority of streams of fundraising secured. The team continued to deliver to its largest partnerships with huge success, while focussing efforts on increasing sourcing of funding that were more sustainable (i.e. multi-year) than previous.

We have continued to enhance our internal governance processes to ensure we are streamlined, transparent and compliant to great effect. We have also taken huge lengths to managing our cost base, ensuring we were able to pay off a large portion of the loan at year end.

As we look ahead, 2024 plans include another scale up in terms of fundraising growth with several new partnerships being secured. Our Board has stepped up its support of the team and we have several plans in place for 2024 that include a fundraising gala and other efforts to utilise the support they can bring.

Structure, governance and management

The charity is a company limited by guarantee governed by its Memorandum of Association dated 23 July 2008. It is registered as a charity with the Charity Commission in England and Wales.

The trustees who served during the year and up to the date of signature of the financial statements, of which N Keller and R Becker are also the directors for the purpose of company law, were:

R Becker A Chalat N Keller M de Carvalho (Resigned 22 March 2024) J Gleasure K Nascimento A Shabazz J Teik Oon (Resigned 9 February 2024) C Rogers J Afterman S Moloko (Resigned 11 December 2023)

Trustees are appointed or reappointed by the Board or at the AGM. New trustees are invited to familiarise themselves with the charity and the context within which it operates by attending a briefing session led by the chairman of the Board. No remuneration is paid to trustees for their service.

Auditor

In accordance with the company's articles, a resolution proposing that Gilberts Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting.

Beyond Sport Foundation

Trustees' Report (Including Directors' Report) (Continued)

For the year ended 31 December 2023

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

David Becker

David Becker (Sep 27, 2024 17:02 GMT+1)

R Becker

Trustee

27 September 2024

Beyond Sport Foundation

Statement of Trustees' Responsibilities

For the year ended 31 December 2023

The trustees, who are also the directors of Beyond Sport Foundation for the purpose of company law, are responsible for preparing the Trustees' 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Beyond Sport Foundation

Independent Auditor's Report

To the Trustees of Beyond Sport Foundation

Opinion

We have audited the financial statements of Beyond Sport Foundation (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Material uncertainty relating to going concern

We draw attention to note 1.2 in the financial statements which indicates that while the trustees have a reasonable expectations that the charity will continue in operational existence for the foreseeable future, there is a reliance on external funding from the Benchmark Group. The fact that this funding is not legally binding gives rise to a material uncertainty relating to going concern. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Beyond Sport Foundation

Independent Auditor's Report (Continued)

To the Trustees of Beyond Sport Foundation

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the 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 as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Explanations as to what extent the audit was considered capable of detecting irregularities, including fraud

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. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed in our approach below:

We did not identify any key audit matters relating to irregularities, including fraud.

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

Beyond Sport Foundation

Independent Auditor's Report (Continued)

To the Trustees of Beyond Sport Foundation

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Luke Parker ACA (Senior Statutory Auditor) for and on behalf of Gilberts Chartered Accountants

27 September 2024 Pendragon House 65 London Road St Albans Hertfordshire AL1 1LJ

Gilberts Chartered Accountants is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Beyond Sport Foundation

Statement of Financial Activities Including Income and Expenditure Account

For the year ended 31 December 2023

Unrestricted
funds
2023
Notes
£
Income and endowments from:
Donations and legacies
2
1,485
Charitable activities
3
661,436
Other income
4
272,936
Total income
935,857
Expenditure on:
Charitable activities
5
769,531
Net income/(expenditure) for the
year/
Net movement in funds
166,326
Fund balances at 1 January 2023
(250,214)
Fund balances at 31 December
2023
(83,888)		 Restricted
funds
2023
£
-
1,705,554
-
1,705,554
1,705,554
-
-
-		 Total
Unrestricted
funds
2023
2022
£
£
1,485
111,940
2,366,990
170,877
272,936
-
2,641,411
282,817
2,475,085
422,945
166,326
(140,128)
(250,214)
(110,086)
(83,888)
(250,214)		 Restricted
funds
2022
£
-
948,168
-
948,168
948,168
-
-
-		 Total
2022
£
111,940
1,119,045
-
1,230,985
1,371,113
(140,128)
(110,086)
(250,214)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Beyond Sport Foundation

Balance Sheet

For the year ended 31 December 2023

2023
Notes
£
Fixed assets
Intangible assets
10
Current assets
Debtors
11
630,124
Cash at bank and in hand
319,690
949,814
Creditors: amounts falling due within one
year
12
(1,035,572)
Net current liabilities
Total assets less current liabilities
Provisions for liabilities
Net liabilities
Income funds
Unrestricted funds		 £
1,870
(85,758)
(83,888)
-
(83,888)
(83,888)
(83,888)		 2022
£
398,060
305,292
703,352
(949,560)		 £
2,125
(246,208)
(244,083)
(6,131)
(250,214)
(250,214)
(250,214)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 27 September 2024

David Becker

David Becker (Sep 27, 2024 17:02 GMT+1)

R Becker

Trustee

Company Registration No. 06659482

Beyond Sport Foundation

Statement of Cash Flows

For the year ended 31 December 2023

2023
Notes
£
Cash flows from operating activities
Cash generated from operations
16
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
£
14,398
-
-
14,398
305,292
319,690		 £
234,248
-
-
234,248
71,044
305,292

For the year ended 31 December 2023

Beyond Sport Foundation

Notes to the Financial Statements

1 Accounting policies

Charity information

Beyond Sport Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 110 High Holborn, 5th Floor, London, WC1V 6JS.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

As at the Balance Sheet date the charity has net liabilities of £83,888. Benchmark Sport Holdings Limited, a company with directors that are also trustees of Beyond Sport Foundation, has agreed to provide financial support to the charity so that it can meet its liabilities as they fall due, for at least twelve months from the date of approval of the financial statements.

Based on the above support the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Although this expectation is reasonable, the continued reliance on external funding does give rise to a level of uncertainty.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Trademarks

10% straight line

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand anddeposits held at call with banks.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

1 Accounting policies

(Continued)

1.10 Taxation

The Charity is exempt from tax on income and gains falling within sections 472-489 of the Corporation Tax Act 2010 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

1.11 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Donations and legacies

Sponsorship Sponsorship
income income
2023 2022
£ £
Donations and gifts 1,485 111,940

3 Income from charitable activities

Grant income
2023
£
Other income
2,366,990
Analysis by fund
Unrestricted funds
661,436
Restricted funds
1,705,554
2,366,990		 Total
Grant income Delegate fees
2023
2022
2022
£
£
£
2,366,990
1,111,096
7,949
661,436
162,928
7,949
1,705,554
948,168
-
2,366,990
1,111,096
7,949		 Total
2022
£
1,119,045
170,877
948,168
1,119,045

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

4 Other income

Service charge income
Write back of intercompany loan
5
Expenditure on charitable activities
Direct costs
Staff costs
Fundraising & event costs
Overheads
Sub contracted consultancy
Grants payable
Reversal of prior year grant income
Audit fees
Profit on foreign exhange
Analysis by fund
Unrestricted funds
Restricted funds
6
Grants payable
Grants to institutions (79 grants):
ACE Projects
Active Community Network
America Scores New York
Asociacion Tarjeta Verde
Aspire Cairns Community Limited
Associacao Nacional de Futebol de Rua
Associacio Superaccio
Association Kabubu
Badu Community CIC
Barnet Community		 2023
£
147,936
125,000
272,936
2023
£
296,929
215,544
59,583
196,550
1,705,554
(6,131)
13,000
(5,944)
2,475,085
769,531
1,705,554
2,475,085		 2022
£
-
-
-
2022
£
196,170
91,751
91,020
3,746
979,052
-
11,600
(2,226)
1,371,113
422,945
948,168
1,371,113
2023
£
23,404
766
17,021
241
11,489
198
241
197
47,519
15,260

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

6 Grants payable (Continued)
BIGKID 60,000
BIGKID 827
Bloomsbury Football Foundation 1,938
Charity Bounce 34,043
Charlton Athletic Community Trust 31,625
Childfund Australia 8,500
Connect Stars 59,138
Creating Chances 34,043
Dallaglio Rugbyworks 40,000
Dancing Ground 12,766
Deptford Lionesses 46,971
Disability Sport Auckland 15,319
Dragones de Lavapies 241
Fundacion Futbol Mas Mexico 38,298
Fundacion Tiempo de Juego 11,100
Futebol Social 38,298
Generation Spirit 27,660
Girls United 13,066
HR Sports Academy 59,880
HYPE Merseyside 827
INSTITUTO ESPORTE EDUCACAO 29,787
Integration durch Sport und Bildung e.V 832
Kick Mit Osterreich 438
L.E.A.D 12,766
La Nuestra Futbol Femenino 13,066
Leicester Tigers Foundation 36,000
Liberi Nantes Asd 172
Love Futbol 174,787
Luta Pela Paz 12,766
Maori Football Aotearoa 29,787
ML Community 25,368
Moriarty Foundation 21,277
Muslimah Sports Association 9,883
NASSA 17,267
PeacePlayers 21,277
Phoenix Community Care 25,840
Proyecto Cantera Juntos para Mexico AC 8,511
REMS 34,543
Shooting Touch 12,766
Single Homeless Project 60,000
Skate Aid international 832
Slum Soccer 28,936
Southall Community Alliance 41,250
Spartans Community Football Academy 827
Special Olympics Arg 23,404
Special Olympics Australia 25,532
Special Olympics Brazil 25,532
Special Olympics GB 21,277
Special Olympics Mex 23,404

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

6 Grants payable (Continued)
Special Olympics New Zealand 15,319
Sport 4 Life 827
Sport Against Racism Ireland 594
Step Stiftung 832
Stichting Fonds Gehandicaptensport 281
Stichting Life Goals Nederland 281
Street Child United Brazil 12,766
Street Soccer London 12,766
Street Soccer USA 37,449
The Change Foundation 60,000
The Change Foundation 29,787
THe Play Equity Fund 26,132
The Shift Foundation 11,064
The Sports Creative 12,766
Transformacion Social 8,511
UmRio 52,265
United Kidz Sports Development 21,777
Yoga & Sport with Refugees 197
Yousport Asd Aps 172
Youth Run NOLA 12,766
1,705,554

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

Grants payable (Continued)
2022
£
Grants to institutions (50 grants):
ACE Projects 21,186
Amandla GmbH 6,431
Associacio esportiva Rammass 7,187
Badu Community CIC 24,111
Barnet Community 7,630
BIGKID Foundation 20,000
Bloomsbury Football Foundation 5,368
Coaches Across Continents 72,034
Connect Stars 19,713
Dancing Grounds 7,663
Deptford Lionesses 15,657
El Desafio Foundation 8,441
Fight 4 Peace 3,373
Futbol Mas Foundation 16,915
Futbol Social 8,458
Futebol Social 12,712
Generation Spirit 12,734
Girl Power 7,187
Greenhouse Sports 12,712
HR Sports Academy 19,960
instituto esporte 20,339
L.E.A.D. Center for Youth 7,663
La Nuestra Futbol Femenino 8,691
Lead Inc 5,071
League of Tolerance 7,187
Love Futbol 168,963
Luta Pela 5,085
ML Community 12,684
Muslimah Sports Association 4,942
National Coaching UK 15,254
Newham All Star Sports Academy 8,634
Onerio 10,169
Phoenix Community Care 12,920
Play Equity Fund 20,435
Positive Coaching Alliance 43,173
REMS 21,169
Shooting Touch 12,652
Single Homeless Project 20,000
Southall Community Alliance 13,750
Special Olympics 100,237
Sported Foundation 21,186
Street Child 8,458
Street Soccer USA 21,243
Street Soccor 12,712

6 Grants payable

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

6 Grants payable (Continued)
Te Aud Romania 7,187
The Change Foundation 32,712
The Play Equity Fund 13,548
UK Coaching 2 4,946
UmRio 15,254
Yoga & Sport with Refugees 7,187
Laureus 6,131
979,052

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

No grants were received from trustees in 2023; grants totalling £26,000 were received from trustees in 2022.

8 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
The number of employees whose annual remuneration was more than £60,000 is as
follows:		 2023
Number
6
2023
£
296,929
2023
Number
1		 2022
Number
4
2022
£
196,170
2022
Number
1

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Intangible fixed assets

Cost
At 1 January 2023 and 31 December 2023
Amortisation and impairment
At 1 January 2023
Amortisation charged for the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals		 2023
£
577,541
-
52,583
630,124
2023
£
13,934
427,153
146,587
136,851
311,047
1,035,572		 Trademarks
£
2,549
424
255
679
1,870
2,125
2022
£
383,547
9,918
4,595
398,060
2022
£
20,534
316,119
3,932
462,468
146,507
949,560

11 Debtors

12 Creditors: amounts falling due within one year

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

13 Provisions for liabilities

2023 2022
£ £
- 6,131

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources
At 31 December
At 31 December
2023 resources expended 2023
£ £ £ £
General funds (250,214) 935,857 (769,531) (83,888)
Previous year: At 1 January Incoming Resources
At 31 December
2022 resources expended 2022
£ £ £ £
General funds (110,086) 282,817 (422,945) (250,214)

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

15 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The charity received £147,936 service charge income from a non for profit organisation under same management and incurred £35,436 service charge expenses from Company C under the control of N Keller.

The following amounts included within creditors were outstanding at the reporting end date:

Amounts owed to related parties Amounts owed to related parties
2023 2022
£ £
Company A under the control of N Keller - 38,206
Not for profit organisation under same management 35,740 232,617
Company B under the control of N Keller 97,258 182,965
Company C under the control of N Keller 139,094 5,116
Company D under the control of N Keller - 323
Directors loan account 4,539 3,241
276,631 462,468

The following amounts included within debtors were outstanding at the reporting end date:

Amounts owed by related
parties
2023 2022
£ £
Company B under the control of N Keller 877 -
Company C under the control of N Keller 576 -
Company E under the control of N Keller - 478
Company F under the control of N Keller - 9,441
1,452 9,919

Beyond Sport Foundation

Notes to the Financial Statements (Continued)

For the year ended 31 December 2023

16 Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 166,326 (140,128)
Adjustments for:
Depreciation and impairment of tangible fixed assets 255 255
Movements in working capital:
(Increase) in debtors (232,064) (255,440)
(Decrease)/increase in creditors (25,022) 312,554
Increase/(decrease) in provisions (6,131) 6,131
Increase in deferred income 111,034 310,876
Cash generated from operations 14,398 234,248

17 Analysis of changes in net funds

The charity had no material debt during the year.

Beyond Sport Foundation 5[th] Floor 110 High Holborn London WC1V 6JS

Gilberts Pendragon House 65 London Road St Albans Hertfordshire AL1 1LJ

27[th] September 2024

Dear Sirs

Letter of representation

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your audit of the Company’s financial statements for the year ended 31 December 2023. These enquiries have included inspection of supporting documentation where appropriate, and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.

General

We have fulfilled our responsibilities as directors under the Companies Act 2006 and as trustees under “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) for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.

All the accounting records have been made available to you for the purpose of your audit and all the transactions undertaken by the Charity have been properly reflected and recorded in the accounting records. We have provided you with unrestricted access to all appropriate persons within the Charity, and with all other records and related information requested, including minutes of all management and trustee meetings. All other records and related information, including minutes of all management and trustee meetings, have been made available to you.

The financial statements are free of material misstatements, including omissions and we believe that the effect of uncorrected misstatements is immaterial both individually and in total.

Scope of the audit report

We confirm that we are aware that the audit report given by Gilberts Chartered Accountants is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports)

Registered office: 5[th] Floor, 110 High Holborn, London, WC1V 6JS Charity Number: 1130439

Regulations 2008, and that the audit work was undertaken so that this report could be prepared and for no other purpose. We confirm that we are aware that Gilberts Chartered Accountants, to the fullest extent permitted by law, do not accept responsibility to anyone other than the Charity and the Charity’s trustees as a body, for their audit work, for the audit report, or for the opinions they have formed.

Internal controls and fraud

We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect error and fraud. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others.

Assets and liabilities

The Charity has satisfactory title to all assets and there are no liens or encumbrances on the Charity’s assets, except for those disclosed in the accounts. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.

All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.

Accounting estimates

The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial framework.

Loans and arrangements

The Charity has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.

Audit adjustments

We approve the attached profit reconciliation which details the audit adjustments made to the financial statements. We believe that the effects of uncorrected misstatements (as set out in the attachment to this letter) are immaterial both individually and in total.

Going concern

We believe that the Charity’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the Charity's needs. We also confirm our plans for future actions required to enable the Charity to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. Having taken into account other loans and sources of finance the directors believe would be available to the Charity, we believe that no further disclosures relating to the Charity's ability to continue as a going concern need to be made in the financial statements. We confirm that we have made you aware of all relevant information in connection with your going concern assessment of the audit.

Events since the balance sheet date

All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.

Transactions with directors

The Charity has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.

Related party transactions

Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and

Registered office: 5[th] Floor, 110 High Holborn, London, WC1V 6JS Charity Number: 1130439

transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of charity law or accounting standards.

We acknowledge the support letters dated 26[th] April 2024 and 4[th] September 2024 show balances of £96,571.32 and £71,175.68 owed to Benchmark Sport Limited and Beyond Sport Foundation US respectively. Since this date, the following adjustments have been made:

The amounts owed to Benchmark Sport Limited have increased by £42,522.90. The amounts owed to Beyond Sport Foundation US have decreased by £35,435.75.

As a result, the amounts owed to Benchmark Sport Limited and Beyond Sport Foundation are now £139,094.22 and £35,739.93 respectively.

Legal claims

We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.

Laws and regulations

We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.

We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware.

Each director has taken all the steps that he ought to have taken as a director in order to make him/herself aware of any relevant audit information and to establish that you are aware of that information.

Benchmark Sport Loan

The charity has amounts owed to Benchmark Sport Limited of £96,571.32 at the year end. We have provided a payment plan, spanning the next five years, to support the payment of these loans.

Benchmark Sport Holdings Limited have agreed to write down the Beyond Sport Foundation UK loan by £125,000 during the year.

Benchmark Service Charge

We believe that the methodologies for calculating the Beyond Sport Foundation and Benchmark Sport Limited service charges are appropriate.

For the Beyond Sport Foundation service charge, this is based on total shared overheads excluding the Benchmark Sport Limited service charge. In 2023, this represented income of £147,935.75.

For the Benchmark Sport Limited service charge, this is based on the proportion of total unrestricted income for Beyond Sport Foundation UK and Beyond Sport Foundation US. In 2023, this represented an expense of £35,435.75.

Yours faithfully

Signed on behalf of the board of directors by

David Becker

David Becker (Sep 27, 2024 17:02 GMT+1) Name David Becker Position

Trustee

Registered office: 5[th] Floor, 110 High Holborn, London, WC1V 6JS Charity Number: 1130439

Financial Statements 2024 Final Reviewed

Final Audit Report 2024-09-27

Created: 2024-09-27 By: Karen Smith (karen@wearebenchmark.com) Status: Signed Transaction ID: CBJCHBCAABAAtlZkmIPezoPOKoKJrVYyKI4Ae8LO8Fu3

"Financial Statements 2024 Final Reviewed" History

Document created by Karen Smith (karen@wearebenchmark.com)

2024-09-27 - 2:33:18 PM GMT- IP address: 77.99.110.67

Document emailed to david@beckerkemp.com for signature

2024-09-27 - 2:37:42 PM GMT

Email viewed by david@beckerkemp.com

2024-09-27 - 4:01:32 PM GMT- IP address: 94.14.79.18

Signer david@beckerkemp.com entered name at signing as David Becker

2024-09-27 - 4:02:29 PM GMT- IP address: 94.14.79.18

Document e-signed by David Becker (david@beckerkemp.com)

Signature Date: 2024-09-27 - 4:02:31 PM GMT - Time Source: server- IP address: 94.14.79.18

Document emailed to Luke Parker (luke.parker@gilberts.uk.com) for signature 2024-09-27 - 4:02:32 PM GMT

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Agreement completed.

2024-09-27 - 4:36:05 PM GMT

Beyond Sport Foundation Aduit Completion Report for the year ended 31 December 2023

Gilberts Chartered Accountants

Strictly Private and Confidential

27[th] September 2024

FAO: Board of Directors

We are pleased to enclose our report in respect of our audit for the year ended 31 December 2023 of Beyond Sport Foundation (the “Entity”). The primary purpose of this report is to communicate the significant findings arising from our audit that we believe are relevant to those charged with governance.

The scope and proposed focus of our audit work was summarised in our Audit Planning Report, which we have already communicated to you.

We have completed the majority of our audit work and expect to be able to issue an unmodified audit opinion on the financial statements.

As a firm we are embracing technology and innovation opportunities. Our work was performed using Inflo, which allows us to perform a data-driven Digital Audit, ensuring a high-quality and effective service.

We look forward to discussing our report with you on 27[th] September 2024.

Luke Parker

Gilberts Chartered Accountants

The objectives of our work, our procedures and their limitations are set out in our engagement letter. This letter also explains our approach to reporting audit findings to management, taking into account your requirements as well as our professional responsibilities. The matters raised in this and other reports that will flow from the audit are only those which have come to our attention arising from or relevant to our audit that we believe need to be brought to your attention. They are not a comprehensive record of all the matters arising, and in particular we cannot be held responsible for reporting all risks in your business or all internal control weaknesses. This report has been prepared solely for your use and should not be quoted in whole or in part without our prior written consent. No responsibility to any third party is accepted as the report has not been prepared for, and is not intended for, any other purpose.

2

Contents

Executive Summary ........................................................................................................................................................... 4 Significant audit and accounting matters ......................................................................................................................... 5 Matters related to Internal Controls ................................................................................................................................. 7 Other matters ................................................................................................................................................................... 8 Appendices ........................................................................................................................................................................ 9

3

Executive Summary

Audit scope and approach

We have adopted a risk-based audit approach, focussing on the risks of the largest magnitude and with the greatest likelihood of material misstatement.

Our initial judgements in relation to planning and risk assessment have been updated to reflect the year end performance and the balance sheet position.

We have updated our materiality assessment to reflect the year end actual results. We have set overall materiality at £24k and we will report all errors above £1.2k.

Use of digital and data technologies

Our work this year has been performed using Inflo’s Digital Audit platform. Inflo provides a range of digital capabilities which facilitate a more collaborative and data-driven approach to auditing.

Our use of Inflo supports a high-quality audit, allowing us to analyse entire transaction populations through data analytics. We can also work more effectively and transparently with you though Inflo’s digital collaboration, whether we are remote or on-site. And Inflo also allows us to extract additional insights to share with you as a value-adding perspective.

Audit status

Our detailed work on the audit of the Entity is largely complete. There are no other significant matters outstanding that need to be brought to your attention.

4

Significant audit and accounting matters

We approach our risk assessment using our knowledge of the Entity, the industry in which it operates, the extent to which controls meet their specific objectives, the relative materiality of individual balances and their impact on the financial statements.

This understanding helps us to form our point of view regarding audit risk, which drives our audit approach and forms the basis for planning and guiding all subsequent audit activities.

To do this we consider the significance of the combined magnitude and likelihood of each audit risk to the financial statements, resulting in a risk classification of significant (risks that appear on the upper end, red area of the Spectrum of Risks), elevated (risks that are appear within the middle, orange line of the Spectrum of Risks) and normal risks (risks that appear on the lower end, green area of the Spectrum of Risks).

The following significant risks have been identified:

The following elevated risks have been identified:

We consider all other risks to be normal risks.

A summary of the work performed and the conclusion for each of these risks has been presented within Appendix A of this report.

5

Matters related to Internal Controls

Significant control deficiencies

There were no significant control deficiencies identified.

Material weaknesses

There were no material weaknesses identified.

Other findings

The other findings identified have been presented within Appendix D of this report.

7

Other matters

Fraud

Based on audit procedures performed, we have not noted any fraudulent activities of a material nature or value.

Subsequent events

We are not aware of any events occurring after the balance sheet date which would impact upon the presentation of the Entity’s financial statements.

Laws and regulations

Based on audit procedures performed, we noted no instances of non-compliance with laws and regulations relevant to the Entity.

Litigation and claims

Based on audit procedures performed and management inquiry, there were no instances of events which might lead to litigations or claims.

Related party transactions

Based on audit procedures performed, no related party transactions outside of the normal course of trading have been identified.

Contingent assets/liabilities

Based on audit procedures performed and management inquiry, we are not aware of any significant contingent liabilities or assets that require disclosure in the Entity’s financial statements.

Independence

We recognise the fundamental importance of independence and objectivity in all aspects of the work we perform and take great care in ensuring the correct procedures are in place to mitigate such risk. Independence and objectivity are critical to our ability to serve as auditors and thus are continually reviewed across the year to ensure our independence.

No issues have come to our attention over the course of the audit that need to be communicated to those charged with governance.

Non-Audit services

The following non-audit services have been performed during the year:

Fee Service
Provider
Title of
Service
Description
of Service		 Actual
Fee
Safeguards
Gilberts
Chartered
Accountants
Preparation
of the
statutory
accounts
Preparation
of the
statutory
accounts		 2,400
As we are preparing the statutory accounts from the client
prepared TB, all adjustments will be discussed and agreed
with informed management who will show their consent by
signing a profit reconciliation. No management decisions will
be made by the audit team.

Any other business

We ask that you confirm to us any knowledge of any events or factors that contradict the conclusions stated above.

8

Appendices

A. Summary of work performed and conclusions

CHARITABLE ACTIVITIES

Risk Name
Risk Level		 Explanation of risk level
Risk of fraud in revenue
Significant - Fraud		 Likelihood:
recognition Revenue recognition is an area that is susceptible to
being manipulated by management. It is presumed the
likelihood of fraudulent manipulation is heightened.
Magnitude:
Increased magnitude risk as the balance is over 50
times performance materiality.
Transactions recorded in the
Elevated		 Likelihood:
incorrect period As above.
Magnitude:
Increased magnitude risk as the balance is over 50
times performance materiality.
Summary of work performed Conclusion
Grant transactional and cut off testing has been carried There is no indication that sales is materially misstated.
out. In the former, all grant income was agreed to
relevant documentation and only one error was
identified. This relates to the NFL grant, where not
enough income was deferred in relation to the timeline
set out in the central agreement. This totalled
£10,037.04. For cut off testing, all the items sampled
were found to be recognised in the correct accounting
period and agreed to suitable documentation. No errors
were noted.

MANAGEMENT OVERRIDE OF CONTROLS

Risk Name Risk Level Explanation of risk level
Risk of management override of Significant - Fraud Likelihood:
controls Management is in a unique position to perpetrate fraud
because of management's ability to manipulate
accounting records and prepare fraudulent financial
statements by overriding controls that otherwise
appear to be operating effectively.
Magnitude:
Management is in a unique position to perpetrate fraud
because of management's ability to manipulate
accounting records and prepare fraudulent financial
statements by overriding controls that otherwise
appear to be operating effectively.

9

Summary of work performed

Conclusion

The reliability of the trial balance and general ledger There is no indication that the financial statements, was tested and reconciled to the financial statements. based on the work carried out in this section, are We used Inflo Detect to identify a list of high risk materially misstated or subject to fraud. journals. Explanations were obtained for each of these. All year end journals posted were reviewed and all appeared in line with expectations.

VOLUNTARY INCOME

Risk Name Risk Level Explanation of risk level
Risk of fraud in revenue Significant - Fraud Likelihood:
recognition Revenue recognition is an area that is susceptible to
being manipulated by management. It is presumed the
likelihood of fraudulent manipulation is heightened.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
Transactions recorded in the Elevated Likelihood:
incorrect period As above.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
Summary of work performed Conclusion
Grant transactional and cut off testing has been carried There is no indication that sales is materially misstated.
out. In the former, all grant income was agreed to
relevant documentation and only one error was
identified. This relates to the NFL grant, where not
enough income was deferred in relation to the timeline
set out in the central agreement. This totalled
£10,037.04. For cut off testing, all the items sampled
were found to be recognised in the correct accounting
period and agreed to suitable documentation. No errors
were noted.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - ACCRUALS FOR GRANTS PAYABLE

Risk Name Risk Level Explanation of risk level
Accruals may not exist Elevated Likelihood:
Increased likelihood of risk due to presence of
Accounting Estimates.
Magnitude:
Increased magnitude risk as the balance is between 10
and 20 times performance materiality.
All accruals have not been Elevated Likelihood:
recorded Increased likelihood of risk due to presence of
Accounting Estimates.
Magnitude:

10

Explanation of risk level

Risk Name

Risk Level

Increased magnitude risk as the balance is between 10 and 20 times performance materiality.

Summary of work performed Conclusion
The accruals listing was reviewed analytically and any There is no evidence to suggest that the accruals
variances from the prior year or our current balance is materially misstated.
expectations based on our knowledge of the client
were investigated. Accruals were substantively tested.
No errors were identified. Three invoices have not
been received at the audit fieldwork date; however, the
accruals appear reasonable.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - DEFERRED INCOME

Risk Name Risk Level Explanation of risk level
Deferred income may not exist Elevated Likelihood:
Increased likelihood of risk due to presence of
Accounting Estimates.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
All deferred income has not Elevated Likelihood:
been recorded Increased likelihood of risk due to presence of
Accounting Estimates.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
Summary of work performed Conclusion
An analytical review comparing the deferred income There is no evidence to suggest that deferred income is
recognised in the year compared to the prior year has materially misstated.
been completed, with any explanations being obtained
for any significant differences. All deferred income
tested has been found to be correctly deferred. No
errors have been identified.

CURRENT ASSETS TRADE DEBTORS

Risk Name Risk Level Explanation of risk level
All balances have not been Elevated Likelihood:
recorded Likelihood is low due to a relatively low number of
transactions.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
Balances may not exist Elevated Likelihood:

11

Explanation of risk level

Risk Name

Risk Level

Risk Name Risk Level Explanation of risk level
Likelihood is lower due to the bulk of the trade debtor
balance relating to Unilever
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.
Customers experiencing Elevated Likelihood:
financial difficulty Likelihood low as main customer is Unilever, who are
not experiencing financial difficulty.
Magnitude:
Increased magnitude risk as the balance is between 20
and 50 times performance materiality.

Summary of work performed

The aged debtors report for the 31st December 2023 was reconciled to the accounts with no differences. Of the debtors substantively tested, all related invoices making up these balances could be traced to post year end bank statements. There were no old debtors or negative balances to consider. No debtor provision is required, and no post year credit notes from January to February 2024 were identified.

Conclusion

There is no indication, based on the work carried out in this section, that debtors is materially misstated.

EXPENDITURE ON CHARITABLE ACTIVITIES

Risk Name Risk Level Explanation of risk level
Transactions recorded in the Elevated Likelihood:
incorrect period As above
Magnitude:
Increased magnitude risk as the balance is over 50
times performance materiality.

Summary of work performed Conclusion Data analytics was completed to identify any trends in There is no evidence to suggest that expenditure on the data. Grants paid was compared to grants received charitable activities is materially misstated. and any instances were the balances did not contra fully were investigated. Low reliance was placed on data analytics. A reconciliation for the expenditure on charitable activities with the grants received was completed and no differences were identified. All grants paid tested were confirmed to grant agreements. In addition, the grant agreements were reviewed to check for any conditions and these were compared with the conditions for the grants received to ensure the funds are being used for the purposes intended.

GOING CONCERN

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Risk Name Risk Level Explanation of risk level
Inappropriate use of going Elevated Likelihood:
concern assumption Likelihood increased due to impact of inherent risk
factors
Magnitude:
Magnitude of pervasive risk considered moderate

Summary of work performed Conclusion Reverse stress testing has been carried out and forecasts have been reviewed. The Rexona contract (in its fourth year) expires in November 2026, therefore we have confidence over the security of this income stream. Considered the liabilities of the charity and whether these could be settled when due. Inquired as to subsequent events and whether this may impact the going concern assessment. No concerns were noted based on the above.

There is no indication, based on the work carried out in this section, that the charity is not a going concern.

RELATED PARTY TRANSACTIONS

Risk Name Risk Level Explanation of risk level
Unidentified balances and Elevated Likelihood:
transactions Likelihood increased due to impact of inherent risk
factors
Magnitude:
Magnitude of pervasive risk considered moderate

Summary of work performed Conclusion Related party transactions have been reviewed with There is no evidence to suggest that any related parties reference to those that occurred in the prior year. The have not been disclosed. financial statements have then been reviewed for any pre existing RPT's to check if balances exist in the current year. All loan accounts with the Benchmark Group have been consolidated into one loan account in the current year - this is inline with our expectations. A search for known related parties has been conducted using the Companies House website. Existing directors and shareholders have been found on Companies House and we have clicked through to discover any other relationships that exists. No additional relationships have been identified. One trustee resigned during the year and two further trustees resigned post year end. Individual detect tests were created using related party key words to identify any additional transactions. There were no transactions with directors or trustees identified other than those with the executive director Fred Turner which we were already aware of.

SUPPORT COSTS

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Risk Name Risk Level Explanation of risk level
Transactions recorded in Elevated Likelihood:
inappropriate accounts As above
Magnitude:
Increased magnitude risk as the balance is between 3
and 10 times performance materiality.
Transactions have not been Elevated Likelihood:
recorded appropriately As above
Magnitude:
Increased magnitude risk as the balance is between 3
and 10 times performance materiality.
Transactions may not have Elevated Likelihood:
occurred As above
Magnitude:
Increased magnitude risk as the balance is between 3
and 10 times performance materiality.
All transactions have not been Elevated Likelihood:
recorded As above
Magnitude:
Increased magnitude risk as the balance is between 3
and 10 times performance materiality.

Summary of work performed

We reviewed the calculation for the foundation service charge. This was found to include the Benchmark Sport service charge in the total shared overheads. We have removed this and recalculated the foundation service charge so as to reflect the actual commercial substance of the transactions. The Benchmark sport service charge was split between both foundation entities using the percentage of unrestricted income. An audit adjustment was posted for the Benchmark service charge for £35k. There is no impact to profit for the audit adjustment. No further issues were noted.

Conclusion

After the audit adjustment has been posted there is no evidence that the support costs are materially misstated.

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B. Required communications

We are required to make a number of specific communications to those charged with governance. These communications and how they have been addressed are summarised in the table below:

Planning Completion
Copy of engagement letter to those charged with governance ✓
Nature and scope of the engagement ✓
Independence and objectivity confirmation ✓ ✓
Detail of all non-audit services provided by the firm and related fees ✓ ✓
Inquiry about knowledge of any actual, suspected or alleged fraud ✓ ✓
Significant changes to the audit plan ✓
Corrected and uncorrected misstatements (Appendix C) ✓
Significant findings ✓
Proposed auditor's report ✓
Management representation letter ✓
Other required matters, or items identified during the engagement ✓ ✓

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C. Summary of Misstatements

During the audit work performed, we have identified the following misstatements:

Description
Debit
Credit		 Type
Status
Error in recognition of this
income
Grants (general
nature) (4090) - £375
Grants (general
nature) (4025) - £750
Grants (general
nature) (4015) -
£8,913
Trade debtors (1100)
- £10,038		 Factual
Misstatement
Uncorrected
Three transactions were
identified where prepayments
should have been recognised.
The actual error is £5,376
Prepayments (1160) -
£5,376
Costs of Raising funds
(5085) - £5,376		 Factual
Misstatement
Uncorrected
No holiday pay accrual
recognised in the accounts
Wages and salaries
(7010) - £3,550
Accruals for grants
payable (2400) -
£3,550		 Factual
Misstatement
Uncorrected
Adjustments are made to reflect
the substance of the transactions
Support costs (8500)
- £35,436
Other Income
(8505A) - £35,436		 Factual
Misstatement
Agreed to
correct
OBA
Unrestricted general
funds (3200) - £36
Other debtors (860) -
£36		 Client Journal
Corrected
Move service charge income
from expenses to income
Support costs (8505)
- £112,500
Other Income
(8505A) - £112,500		 Reclassification
Misstatement
Corrected

Management have not adjusted the uncorrected misstatements above as they do not believe they are material to the financial statements.

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D. Other Findings

D. Other Findings
Finding
Type
Title
Description
Recommendation		 Management
Response
Control
Deficiency
Unrestricted
income for
NFL
The Foundation need to start deferring some of
the unrestricted funds stated in the NFL
agreements. It states £50k per annum for 2 years,
for example, however the agreement actually
runs for 27 months and does not directly
correlate with the accounting period (Jan-Dec ).
This was missed last year.
Start calculating
the amounts
which need to be
deferred re.
unrestricted
income.

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