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2021-03-31-accounts

Charity Registration No. 1136892 (England and Wales)

Charity Registration No. SC045967 (Scotland) Company Registration No. 7171285 (England and Wales)

GOALBALL UK

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

GOALBALL UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Grosvenor (Chair)
A Burchell
G Clancey (Senior Independent Director)
K Coghlan
P Elliott
D Lewis-Smith
P Reid (Appointed 17 November 2020)
R Singh (Appointed 17 November 2020)
M Winder
Secretary M Martin
Charity number (England and Wales) 1136892
Charity number (Scotland) SC045967
Company number 7171285
Registered office 3rd Floor
Chancery House
St Nicholas Way
Sutton
Surrey
SM1 1JB
Auditor Clarkson Hyde LLP
3rd Floor
Chancery House
St Nicholas Way
Sutton
Surrey
SM1 1JB

GOALBALL UK

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 19

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and financial statements for the year ended 31 March 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Chair's Review

On behalf of the Board of Directors it gives me great pleasure to present our Annual Report for 2020/21. This was a year when all our lives were impacted by COVID-19 and I will talk more about this later. However, as I write we are optimistic that restrictions will be lifted and we can get back to competitive goalball in 2021/22.

Goalball U.K.’s mission is to be world leading in promoting and providing sporting opportunities for blind and partially sighted people and to make goalball a universally recognised sport in the U.K.

We are driven to transform people’s lives through our sport by:

As an organisation, we are committed to serve our players with passion, act with integrity and to be responsive to our stakeholders. Our pride in working at Goalball U.K. must be reflected in our drive for success at all levels.

2020/21 was the year of the COVID-19 pandemic and I have to say that it has brought out the best in the Goalball U.K. family and in particular I would like to thank Mark Winder for his leadership of Goalball U.K. in a very challenging period.

There were three main priorities identified in April 2020.

This manifested in activities such as:

Like all partners of Sport England, we were fortunate to be afforded more freedom with our grant. This ensured all staff remained in employment throughout the year and has allowed us to develop several improvements in 2021/22. For example, an online ‘Table Officials Course’ to prepare volunteers prior to attending their first session.

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Throughout the year we worked with Sport England to establish priorities for 2021/22. These have been agreed as:

This has led to Sport England providing rollover funding for an additional year, as we work with them to establish longer term priorities.

All staff have undertaken significant equality diversity and inclusion training as we continue to develop our understanding and ensure our sport is accessible to as many people as possible.

We continue to develop our safeguarding work and pleasing progress has been made in relation to our policies and procedures. We also provided several online courses for clubs ensuring they are better placed in this area.

We are particularly proud of our ‘Find The Next’ programme which is providing opportunities for children and young people, as well as coaches who wish to develop. These sessions have initially been online, however we hope to be able to deliver them face to face imminently. We have maintained some of the funding in order to maximise these opportunities.

During the year we have also developed a ‘Young Person’s Reference Group’ in order to hear the voices of our younger members, I have attended a session of this group and I was very impressed with their enthusiasm and bright ideas. We hope this group will develop and evolve and I have no doubt will have a significant influence in shaping the direction of Goalball U.K.

We have also supported our clubs in different ways. For example, when possible, we supported clubs to deliver sessions. However, alongside this we delivered an online Conference in Autumn 2020 and have supported several clubs in developing their policies and structures.

In early 2021 we ended our 10-year anniversary celebrations with a piece of research which demonstrated a £4 social return of investment for every £1 spent. This was accompanied by a series of case studies which demonstrated the value of our sport to individuals, families and clubs. This was also chosen as the best time to launch our Patron and Ambassador programme. Whilst this has not yet fully come to fruition due to the restrictions, we hope to reengage with this talented group in 2021/2022.

For safety reasons, we decided to pause our Talent Programmes in 2021. We focused our attention on the previously mentioned ‘Find The Next programme’ in order to provide opportunities to younger people on the pathway. Some older ‘talent’ athletes attended Great Britain training to develop.

Throughout 2020/21 our Great Britain teams were provided opportunities to train and compete, the men’s team being beneficiaries of U.K. Sport Continuity Fund to help them prepare for the European B Competition in Finland. We are very grateful for their support. Without it the team would not have been able to prepare.

The women’s team just missed out on qualification for Tokyo but they continue to train and are preparing for the European A Competition in the autumn of 2021.

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

U.K. Sport chose not to fund our high-performance athletes on a world class or progression programme, but I am delighted to say that they have, from their Teams’ Fund, given us a grant of £287,000 to support our international programme through the Paris Cycle in 2024. This will allow us to provide consistent opportunities for the teams. We are aware we need to generate additional funds. However, this core funding will provide assurance to all that we can prepare and attend Paris qualifying events.

We were excited to hear the news Birmingham will host the IBSA World Games in 2023, British Blind Sport being successful in their bid to do so. This is incredibly positive news for the whole sector. However, goalball is one of the key events as it provides qualification opportunities for Paris 2024. Our inclusion, alongside judo, meant that the games are being supported by U.K. Sport.

We are also thankful of the Worshipful Company of Spectacle Makers who allowed us to keep our grant to continue to develop goalball in London. We hope to be able to continue the momentum in 2021/2022.

I am delighted that we were able to recruit two new directors during the year. Ranjit Singh and Paul Reid joined us with a wealth of experience in business and talent/high performance team sport respectively. It has not been easy for them as all the meetings etc they have attended have been virtual and they have not been able to meet the goalball family and to get to playing sessions. I believe we have a committed and talented board who have been very supportive during a very difficult year, they are all volunteers and Goalball U.K. benefits from their time and expertise.

I have already mentioned Mark Winder, our CEO, and I would like to praise him and all his Goalball U.K. team for steering Goalball U.K. through the last year and, as you can tell from above, they have been focused on looking ahead and getting ready for us all to play goalball again.

Finally, I would like to add my thanks to the entire Goalball family for your positive, supportive attitude throughout an incredibly challenging year. I am highly optimistic that we can re-establish our sport in a safe, measured way in 2021/22 and I look forward to seeing all the Goalball family on the court in the near future.

John Grosvenor Chair

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Staff and volunteers

The sport is highly dependent upon the large numbers of volunteers who help with every area of the sport while Goalball U.K. is fortunate to employ exceptional, committed coaching, administrative and development staff. The directors express their thanks to all volunteers and employees for their hard work and dedication during this unprecedented past year.

Financial review

Goalball U.K. continues to account separately for three distinct operational strands – Grass Roots, women’s High Performance and men’s High Performance. The Grass Roots operation is shown as unrestricted funds and is funded principally by Sport England. The High Performance programmes are shown as restricted funds. The women’s High Performance fund received no significant additional support during the financial year. However, the men’s High Performance fund was the beneficiary of a grant from U.K. Sport during the year.

The financial year was the fourth year of the 2017-21 Sport England funding cycle. Because of the operational difficulties caused by the Coronavirus pandemic, to offer some financial stability Sport England announced during the year that its financial award in the 2020-1 year would be replicated in the subsequent year.

The women’s High Performance fund went into the year with a surplus of £40,402 based on the award it had received from U.K. Sport in the previous financial year. With limited training and competitive opportunities as a result of the pandemic, it was a year of modest financial activity. Expenditure was just 11% of the previous year. There was no significant additional income and the fund returned a deficit of £14,531 during the year.

The Grass Roots funds were able to use the restrictions of the pandemic to build up a level of reserves which will protect the organisation against future financial uncertainties. A surplus on the fund of £109,483 was returned during the year. Despite the impact of a reduction in public donations and corporate support as a result of restrictions in public exposure, income during the year rose by 9.8% to £586,048. This growth was attributable to an increase in grants received. Meanwhile, expenditure fell by 10.7%, mainly as a result of an inability to deliver charitable programmes because of the pandemic.

The men’s High Performance fund returned a surplus in the year of £15,515. The fund was the beneficiary of a grant from U.K. Sport’s Continuity Fund, designed to help NGBs which have been financially impacted by COVID-19. Expenditure almost doubled as the team had a competitive championships to prepare for at the end of the financial year.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should ideally be maintained at a level equivalent to between three and six month’s non-project expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

The Trustees have a duty to identify and review the risks to which the charitable company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against known risks. The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charity.

Robust corporate governance is another critical area of risk management. Sport England and U.K. Sport demand that we continuously undertake a very rigorous self-assurance process to ensure we maintain good governance across the whole organisation and are in line where realistically possible with best practice.

Significant external risks to funding present the greatest threat to the charity's future. The Board maintains close links with Sport England and U.K. Sport to ensure it has a positive and supportive relationship with them. In parallel, numerous fund raising initiatives have been undertaken and donations sought to diversify the charity's sources of income.

The Trustees have instigated insurance policies with Hiscox Insurance.

The Trustees are satisfied that systems are in place to mitigate our exposure to the major risks.

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

Goalball U.K. is an independent charity and company limited by guarantee.

The T rustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J Grosvenor (Chair)

A Burchell G Clancey (Senior Independent Director) K Coghlan P Elliott D Lewis-Smith M Martin ( Term expired 17 November 2020) P Reid (Appointed 17 November 2020) R Singh (Appointed 17 November 2020) M Winder

None of the T rustees has any beneficial interest in the company. All of the T rustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The charity's current policy concerning the payment of trade creditors is to:

The members of the Board are the directors of Goalball U.K. and have the powers and responsibilities of the strategic management of the business of the organisation. The Board comprises:

With the exception of the Chief Executive Officer, the Board is comprised of non-executive directors. The day to day running of the organisation is delegated to the Chief Executive Officer.

The Board has appointed four Committees to support its work: a Competition and Club Committee, a Performance and Talent Committee, a Risk Group and a Finance and Operations Group. Following a review of our governance, the Audit and Risk Committee was separated into two groups this year.

The Club and Competition Committee’s purpose is to coordinate the development of the domestic competition and support clubs. The Finance and Operations Group’s purpose is to ensure that Goalball U.K.’s financial reporting is appropriate. The Risk Group ensures risk management procedures are comprehensive and pertinent. The Performance and Talent Committee’s purpose is to support coaches and staff, with the input of athletes, in developing a strong talent and performance pathway and programmes.

All Board members have a responsibility to act honestly, exercise reasonable care and skill in discharging their responsibilities and to fully understand their fiduciary duties in their capacity as directors of the charity.

We have referred, and complied where relevant, to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our purposes and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the purpose and objectives they have set.

Related party transactions consist of a director receiving consultancy fees through directorships of other companies as follows: M Martin £8,330 (2020: £13,830)

GOALBALL UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Employee involvement

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Disabled persons

The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the charity's performance.

Auditor

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

The T rustees' r eport was approved by the Board of Trustees. Worn M Winder Trustee/Director Dated: 22 July 2021

GOALBALL UK

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The Tr ustees, who are also the directors of Goalball UK for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the T rustees to prepare accounts 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 accounts, the T rustees are required to:

The T rustees 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 accounts 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.

GOALBALL UK

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF GOALBALL UK

Opinion

We have audited the financial statements of Goalball UK (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet and the 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

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

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

We have nothing to report in this regard.

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 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

GOALBALL UK

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF GOALBALL UK

Responsibilities of trustees

As explained more fully in the s tatement of T rustees' r esponsibilities, the T rustees, 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 T rustees 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 section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts 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.

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 .

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

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 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. 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 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Graham Speck (Senior Statutory Auditor) for and on behalf of Clarkson Hyde LLP 5 August 2021 Chartered Accountants Statutory Auditor 3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB

Clarkson Hyde LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

GOALBALL UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
14,694
-
Charitable activities
4
565,283
64,650
Other income
5
6,071
3,102
Total income
586,048
67,752
Expenditure on:
Charitable activities
6
476,565
66,768
Net income/(expenditure) for
the year/
Net movement in funds
109,483
984
Fund balances at 1 April
399
46,774
Fund balances at 31
March
109,882
47,758		 Total
Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
14,694
15,454
70,000
629,933
472,455
70,125
9,173
45,944
-
653,800
533,853
140,125
543,333
533,641
181,841
110,467
212
(41,716)
47,173
187
88,490
157,640
399
46,774		 Total
2020
£
85,454
542,580
45,944
673,978
715,482
(41,504)
88,677
47,173

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.

GOALBALL UK

BALANCE SHEET

AS AT 31 MARCH 2021

2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 10 1,972 2,666
Current assets
Debtors 11 2,465 37,134
Cash at bank and in hand 206,975 45,509
209,440 82,643
Creditors: amounts falling due within one
year 12 (53,772) (38,136)
Net current assets 155,668 44,507
Total assets less current liabilities 157,640 47,173
Income funds
Restricted funds 47,758 46,774
Unrestricted funds 109,882 399
157,640 47,173

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 March 2021, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 22 July 2021

J Grosvenor (Chair) Trustee

Company Registration No. 7171285

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Goalball UK is a private company limited by guarantee incorporated in England and Wales. The registered office is 3rd Floor, Chancery House, St Nicholas Way, Sutton, Surrey, SM1 1JB.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

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

1.2 Going concern

At the time of approving the financial statements, 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.

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 as to how they may be used.

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.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Playing equipment 20% Straight Line Fixtures, fittings & office equipment 33.3% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible 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, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs 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 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, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 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.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 F und accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designed for any other purpose.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Total Unrestricted Restricted Total
funds funds funds
2021 2021 2020 2020 2020
£ £ £ £ £
Donations and gifts 14,694 14,694 15,454 70,000 85,454

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

Sport England
grants received
UK Sport grants
received
TASS /Sports
Aid grants
received
Other grants
received
Total
2021
£
£
£
£
£
Performance related grants
448,475
59,750
-
114,058
622,283
Other income
-
-
7,650
-
7,650
448,475
59,750
7,650
114,058
629,933
Analysis by fund
Unrestricted funds
448,475
2,750
-
114,058
565,283
Restricted funds
-
57,000
7,650
-
64,650
448,475
59,750
7,650
114,058
629,933
For the year ended 31 March 2020
Unrestricted funds
378,019
16,200
500
77,736
Restricted funds
-
67,050
3,075
-
378,019
83,250
3,575
77,736
Other income
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2021
2021
2021
2020
£
£
£
£
Other income
6,071
3,102
9,173
45,944		 Total
2020
£
539,505
3,075
542,580
472,455
70,125
542,580
Total
2020
£
45,944

5 Other income

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

6 Charitable activities

Staff costs
Other
£
£
Staff costs
270,653
-
Depreciation and impairment
-
1,635
Charitable expenditure
-
266,502
270,653
268,137
Governance costs (see note 7)
-
4,543
270,653
272,680
Governance costs
Governance
costs
£
Audit fees
3,180
Legal and professional
1,363
4,543
Analysed between
Charitable activities
4,543		 Total
2021
£
270,653
1,635
266,502
538,790
4,543
543,333
2021
£
3,180
1,363
4,543
4,543		 Total
2020
£
222,367
2,232
486,263
710,862
4,620
715,482
2020
£
3,000
1,620
4,620
4,620

7 Governance costs

8 Trustees

The trustees were reimbursed a total of £ 156 travelling expenses (20 20 - £ 8,363 ) . At the year end, the charity owed £Nil (2020 - £169) to one of the trustees for travel expenses.

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

9 Employees

Number of employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Administration 9 8
Employment costs 2021 2020
£ £
Wages and salaries 265,105 219,070
Pension costs 5,548 3,297
270,653 222,367

There were no employees whose gross annual remuneration was £60,000 or more.

10 Tangible fixed assets

Playing
equipment
Fixtures, fittings
& office
equipment
£
£
Cost
At 1 April 2020
15,636
4,587
Additions
-
940
Disposals
-
(1,950)
At 31 March 2021
15,636
3,577
Depreciation and impairment
At 1 April 2020
13,939
3,618
Depreciation charged in the year
579
1,055
Eliminated in respect of disposals
-
(1,950)
At 31 March 2021
14,518
2,723
Carrying amount
At 31 March 2021
1,118
854
At 31 March 2020
1,697
969		 Total
£
20,223
940
(1,950)
19,213
17,557
1,634
(1,950)
17,241
1,972
2,666

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

11
Debtors
2021
Amounts falling due within one year:
£
Trade debtors
1,270
Other debtors
-
Prepayments and accrued income
1,195
2,465
12
Creditors: amounts falling due within one year
2021
£
Trade creditors
13,058
Other creditors
9,045
Accruals and deferred income
31,669
53,772
13
Analysis of net assets between funds
Unrestricted
Funds
Restricted
Funds
£
£
Fund balances at 31 March 2021 are represented by:
Tangible assets
1,972
-
Current (liabilities)/assets
107,910
47,758
109,882
47,758
14
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2021
£
Chief Executive Officer
64,398
Chief Finance Officer
2,000		 2020
£
810
4,073
32,251
37,134
2020
£
7,916
7,816
22,404
38,136
Total
£
1,972
155,668
157,640
2020
£
61,589
2,500

The balance includes £58,500 (2020: £56,250) of gross wages, £6,585 (2020: £6,227) of Employer's national insurance and £1,313 (2020: £1,612) of Employers pension contributions.

GOALBALL UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

15 Transactions with related parties

During the year the directors received consultancy fees net of remunerated salary through directorships of other companies, as follows:

M Martin £8,330 (2020: £13,830), the current year fees were incurred prior to M Martin's term expiring on the 17 November 2020.

At the year end the charity owed £Nil (2020: £1,458) to one of the directors for consultancy fees.

All fees earned by trustees are in an executive role and are at an arms length basis.

Other than those stated above, there are no further fees received by any of the other trustees.