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2022-08-31-accounts

Charity registration number 1140804

GIVE IT YOUR MAX

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

GIVE IT YOUR MAX

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees C Boden (Appointed 16 November 2021)
G Brook
D Burles
J Clark
J Cooper
C Hurst-Brown
K Jones
P Riley
E Smith
M Stotesbury
T Stotesbury
J Tacon
Charity number 1140804
Independent examiner PK Audit LLP
1 Parkshot
Richmond
Surrey
TW9 2RD

GIVE IT YOUR MAX

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

GIVE IT YOUR MAX

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

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 Charity's Trust Deed 7 March 2011, the Charities Act 2011 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)".

Principal activities

Give It Your Max pays for qualified tennis coaches to introduce tennis to children in state primary schools in low-income areas and SEN schools across the UK. All state schools where we operate must have a pupil premium percentage in excess of 35%. This is to ensure that we are working in areas of deprivation and that we are reaching the children most in need.

Objectives, aims and public benefit

Give It Your Max works with disadvantaged and vulnerable children between the ages of 4-18 in the UK’s most deprived areas, using sport as a tool for change. At Give It Your Max, we use tennis to tackle socio-cultural issues, including poor mental health and self-esteem, high levels of obesity and inactivity, tackling anti-social behaviour and gang crime and low levels of aspiration.

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

Achievements and performance

Give It Your Max has had a very positive year. With the pandemic behind us, we are grateful that our 21 programmes are running as normal once again and the children have returned to in-person tennis lessons. We have also introduced two new programmes in Kings Norton and north London, reaching a total of 3,395 children, working in 46 schools over the year. In 2021 we launched our Max’s Breakfast Club programme, where we go into state primary schools across the country to deliver a tennis session before the children start their academic day, catching them when they are at their freshest and most responsive. On top of this we offer a healthy and nutritious breakfast, all at no cost to the child or school. Typically the tennis session starts at 8am and always takes place within the school, being delivered by a Give It Your Max coach. We currently have 12 Breakfast Clubs running and feedback remains very positive from both children and teachers. Many of our programme children do not always get well fed at home so this way we can introduce and educate the children about healthy nutrition and make sure they eat well which sets them up for the best day possible at school. "The children come to the classroom energised and ready for the day after Max's Breakfast Club" - Teacher at Headlands Primary School.

It’s been a busy year for the charity. We officially launched our Unloved and Unwanted campaign at the 2022 Wimbledon Championships with professional Player Ambassadors, Cameron Norrie, Joe Salisbury and Heather Watson. It raised such intrigue that other players such as Liam Broady and Dan Evans got involved and have been donating their rackets ever since. Unloved and Unwanted is our ongoing sustainability and awareness project. We are all too aware that there’s an abundance of ‘unloved and unwanted’ tennis rackets sitting in cupboards and garages in homes across the UK. At Give It Your Max we ask for those rackets to be sent to us, we clean and regrip them and get each racket into the hands of one of our programme children. Our plan is to sell the adult rackets we receive on the merchandise page of our website which will bring in funds that we can use to enhance our programmes. Our campaign has been very well received and we are grateful to the Wimbledon Foundation, the charity arm of The All England Lawn Tennis Club and The Wimbledon Championships, for becoming our official ‘Supporter’ of the initiative.

GIVE IT YOUR MAX

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Event-wise we’ve been busy, welcoming 586 guests across a variety of fundraising events throughout the year. We had a Padel event at the National Tennis Centre, a dinner with Sir Trevor McDonald and Annabel Croft at The All England Lawn Tennis Club, mixed doubles tennis at Bradfield College and our annual Christmas Carol service at St Mary’s Church in Wimbledon Village. All were a great success and we are grateful to those who donated and/or attended for their support.

We were excited to announce US Open Men’s Doubles Champion Joe Salisbury as the newest member of our professional Player Ambassador team. Joe is a fantastic role model; we are excited to have him onboard and look forward to having him visit one of our programmes soon. We are very grateful to all of our professional Player Ambassadors for their continued support. As well as Joe, they comprise Harriet Dart, Cameron Norrie and Heather Watson.

We had another busy Wimbledon Championships. Once again collaborating with DropShot Coffee in Southfields, where ten percent of every coffee sold during the fortnight was donated to Give It Your Max. The campaign raised awareness for the charity and over the Wimbledon fortnight we increased our social media followers by 64%. We will look to work with more shops and cafes based in SW19 during the 2023 Championships. DropShot Coffee is a great supporter of Give It Your Max and we very much appreciate its ongoing support.

In August we launched our new website which we hope accurately communicates the work we do. Owen Purcell kindly volunteered his time and expertise to help us with this project and we are very grateful for his support.

John Beddington joined our esteemed board of Patrons. John was one of the founding Trustees and has been a tremendous support to Give It Your Max over many years. We are immensely grateful to John for all his hard work and efforts for the charity and it is only right for him to join Tim Henman, Sir Trevor McDonald, Leon Smith and Virginia Wade as a Patron of Give It Your Max.

In May our Co-Founder Mike Stotesbury stepped down as Chairman after 18 years at the helm. Mike is now President of the charity and remains very much involved. Give It Your Max would not exist if it were not for Mike and Tara’s passion, dedication and vision. They have both worked tirelessly to get it to where it is today, which is a charity enhancing the lives of over 200,000 children through the game of tennis. With Mike stepping down we are delighted that our Trustee Conor Boden accepted the position of Chairman and we look forward to working with Conor under his strong leadership. Conor brings a great deal of experience to the charity and we are all very confident that Conor will make a great Chairman and continue to drive the charity forwards.

Financial review

During the financial year, we received a total income of £163,203 (2021: £166,034). Total expenditure of the running of the programmes and fund raising activities amounted to £168,692 (2021: £100,985). The net expenditure for the year was £46,810 (2021: net income: £122,130) after net loss on investment of £41,321. Charity funds totalled £580,052 at 31 August 2022 (2021: £626,862).

Reserves policy

Due to the main income stream being events fundraising, and having at present very minimal regular income resources, the Trustees consider that the Charity requires designated reserves to reduce the impact of risks to our established tennis programmes which currently number twenty. With so much uncertainty in the economy, we have worked hard to get our reserves to a sustainable level so that we can offer our programmes, and the disadvantaged and vulnerable children that we help, stability and continuity. Like with everything we do, we take a long term approach and therefore understand the importance of having adequate reserves. Every programme’s requirements is different, but in some cases we would support a programme for a further four years. The sum allocated to the designated reserves amounts to an estimate of the programme costs in addition to the salaries and other costs of running the Charity for a period of time determined by the size of the programme and the investment made by the charity and the programme manager. At the balance sheet date this amounted to £520,628 (2021: £544,868). The remaining funds will be held in the general reserve and are to be used at the Trustees' discretion for opening more programmes and developing the Charity's objectives.

GIVE IT YOUR MAX

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Investment policy

The trustees seek to hold in cash or building society deposits one and a half year's rolling cost of the Charity's active tennis programmes. Any resources in excess of this amount are held with Scottish Widows Charity Deposit account or managed by the Charity division at Rathbones Investment Management.

The aim of the investment policy is to achieve an investment return, after costs, that exceeds cash savings and that can protect against inflation over the time horizon in order to maintain the purchasing power of the funds. In the longer term, the portfolio aim is to pay for qualified coaches to introduce tennis to primary school age children in state schools in deprived areas of the UK.

In order to achieve the stated investment objective, the majority of the portfolio is held in equity risk assets, with a range of 55-75%, albeit at the lower end. The balance is held in liquid and diversifying assets with ranges of 10-30% and 5-25% respectively, which act as a buffer against equity volatility. The strategy is best represented by Rathbones Risk Strategy 3. This portfolio strategy sits towards the middle of their risk / return spectrum. It is the equity type risk assets which will be the main driver of growth, as the strategy aims to grow ahead of inflation (CPI) by 2%. The benchmarks utilised by them are MSCIPIMFA Income, or ARC Sterling Balanced and CPI +2%.

At 31 August 2022, the valuation of the investments in the balance sheet was at market value of £452,096 (2021: £480,820).

Risk management

The trustees have considered the risks to which the charity is exposed and they have put in place structured procedures to mitigate harm to the beneficiaries and the charity as a whole.

Future plans

Our mission remains to enhance the lives of disadvantaged and vulnerable children across the UK. We use tennis to tackle socio-cultural issues, including poor mental health, self-esteem, high levels of obesity and inactivity, tackling anti- social behaviour and gang crime and low levels of aspirations.

As we look at the year ahead, we are committed to delivering the very highest quality of work within our programmes. We are grateful to our team of coaches across the country who are all passionate about helping others less fortunate and making a difference within their community. Max’s Breakfast Club and our sustainability campaign Unloved and Unwanted will be the focus areas of the charity - we are passionate about driving these forward and therefore enhancing our offering. Both have a great deal of potential in raising awareness for the charity and most importantly making a positive difference to our children.

It is important for us all to be mindful that one third of UK children are overweight or obese by the time they leave primary school, and worryingly, one in five children have at least one mental health disorder. This statistic drives us to do more and to make sure that the work within our programmes is always responding to a need and making a positive impact. Of course, without funds we are not able to continue our work so equal focus is spent on fundraising so we can continue to do more and make a greater impact. As well as the usual events, we will continue to look at creative and innovative ways of raising funds. We have an exciting schedule of fundraising events and plan to deliver more, including a golf day and a fundraising dinner, with guest speaker, in the autumn. We will build on our collaborations with the likes of Wilson, WP Sports and DropShot and hope to build more positive partnerships with likeminded organisations and tennis clubs across the UK.

GIVE IT YOUR MAX

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management

The Charity is an unincorporated charitable trust, with the charity registration number 1140804, registered on 14 March 2011 with Charity Commission and is governed by the Trust Deed dated 7 March 2011 which establishes the objects and powers of the charity.

The trustees who served during the year and up to the date of signature of the financial statements were: C Boden (Appointed 16 November 2021) G Brook D Burles J Clark J Cooper R Dolman (Resigned 16 November 2021) C Hurst-Brown K Jones P Riley E Smith M Stotesbury T Stotesbury J Tacon

The trustees meet formally quarterly. During the year there are regular communications between trustees and the CEO. All decisions are made unanimously. Trustees are recruited to fill perceived skill gaps and contribute toward the running of the charity. In selecting individuals for appointment as charity trustees, the charity trustees will have regard to the skills, knowledge and experience needed for the effective administration of the charity. The trustees collectively reviewed the Charity Commission's Guidance (CC3) 'The Essential Trustee: what you need to know' as part of the induction for new trustees.

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

M Stotesbury Trustee Dated: 29 March 2023

GIVE IT YOUR MAX

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GIVE IT YOUR MAX

I report to the trustees on my examination of the financial statements of Give It Your Max (the Charity) for the year ended 31 August 2022.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Annie Lee FCA ICAEW

PK Audit LLP 1 Parkshot Richmond Surrey TW9 2RD

Dated: 29 March 2023

GIVE IT YOUR MAX

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
2
91,294
-
Other trading activities
3
65,351
-
Investments
4
6,558
-
Total income
163,203
-
Expenditure on:
Costs of raising funds
5
52,235
-
Cost of charitable
activities
6
107,863
8,594
Total expenditure
160,098
8,594
Net gains/(losses) on
investments
10
(41,321)
-
Net movement in funds
(38,216)
(8,594)
Fund balances at 1 September
2021
596,862
30,000
Fund balances at 31 August
2022
558,646
21,406		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
91,294
114,056
30,000
65,351
15,951
-
6,558
6,027
-
163,203
136,034
30,000
52,235
21,128
-
116,457
76,792
3,065
168,692
97,920
3,065
(41,321)
57,081
-
(46,810)
95,195
26,935
626,862
501,667
3,065
580,052
596,862
30,000		 Total
2021
£
144,056
15,951
6,027
166,034
21,128
79,857
100,985
57,081
122,130
504,732
626,862

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

GIVE IT YOUR MAX

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2022
£
448
135,999
136,447
(8,823)
520,388
38,258		 £
332
452,096
452,428
127,624
580,052
21,406
558,646
580,052		 2021
£
443
153,740
154,183
(8,584)
544,868
51,994		 £
443
480,820
481,263
145,599
626,862
30,000
596,862
626,862

The financial statements were approved by the Trustees on 29 March 2023

M Stotesbury Trustee

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

Give It Your Max is an unincorporated charity created under the Trust Deed dated 7 March 2011.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's trust deed, the Charities Act 2011, 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 Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

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.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors 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.

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

Resources expended are included in the Statement of Financial Activities in the year in which they are incurred, inclusive of any VAT which cannot be recovered.

Resources expended are allocated and apportioned between costs in furtherance of charitable objects namely coaching programme costs, support costs and governance costs.

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Coaching programme costs represent all costs directly incurred in the course of furthering the charity's principal objective through the provision of tennis coaching to children.

Support costs represent those costs incurred through the administration of the charity's activities in furtherance of the charity's principal objective.

Costs incurred in assisting the trustees in their stewardship of the charity are classified under governance costs.

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:

Computers

25% reducing balance basis

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 the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 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).

1.9 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.

1.10 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. There are no financial assets classified as receivable more than one year, which need to be amortised.

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. There are no financial liabilities classified as payable more than one year, which need to be amortised.

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.

Derecognition of financial liabilities

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

1.11 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.

1.12 Retirement benefits

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

2 Donations and legacies

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2022
2021
2021
£
£
£
Donations and gifts
90,744
87,864
30,000
Grant receivable
550
26,192
-
91,294
114,056
30,000
Grants receivable for core activities
Coronavirus Job Retention Scheme grant
550
26,192
-
550
26,192
-		 Total
2021
£
117,864
26,192
144,056
26,192
26,192

3 Other trading activities

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising events 65,351 15,951

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

4 Investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Income from listed investments 6,491 5,961
Bank interest 40 53
Interest receivable 27 13
6,558 6,027
5 Costs of raising funds
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Staging fundraising events 28,052 7,311
Other fundraising costs 19,200 9,600
Events 47,252 16,911
Fund management 4,983 4,217
52,235 21,128

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

6 Cost of charitable activities

Coaching programme
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds
Support costs
Support costs
Governance
costs
£
£
Marketing and PR services
15,538
-
Sundry expenses
4,131
-
Bank charges
181
-
Depreciation
111
-
Salaries and wages
34,790
-
Insurance
704
-
Professional services
2,694
-
Pension costs
1,654
-
Accountancy fees
2,934
2,220
Computer running costs
-
-
62,737
2,220
Analysed between
Charitable activities
62,737
2,220		 2022
£
51,500
62,737
2,220
116,457
107,863
8,594
116,457
2022 Support costs
Governance
costs
£
£
£
15,538
18,244
-
4,131
2,663
-
181
168
-
111
147
-
34,790
22,074
-
704
693
-
2,694
1,372
-
1,654
1,850
-
5,154
2,700
2,100
-
140
-
64,957
50,051
2,100
64,957
50,051
2,100		 2021
£
27,706
50,051
2,100
79,857
76,792
3,065
79,857
2021
£
18,244
2,663
168
147
22,074
693
1,372
1,850
4,800
140
52,151
52,151

7 Support costs

Governance costs includes payments to the independent examiner of £2,220 for the independent examination (2021: £2,100).

8 Trustees

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

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

9 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:
2022 2021
Number Number
Chief Executive 1 1
Coaching staff 1 1
2 2
There were no employees whose annual remuneration was £60,000 or more.

10 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Movement in valuation of investments (42,841) 26,989
Gain/(loss) on sale of investments 1,520 30,092
(41,321) 57,081
Tangible fixed assets
Computers
£
Cost
At 1 September 2021 2,250
At 31 August 2022 2,250
Depreciation and impairment
At 1 September 2021 1,807
Depreciation charged in the year 111
At 31 August 2022 1,918
Carrying amount
At 31 August 2022 332
At 31 August 2021 443

11 Tangible fixed assets

12 Fixed asset investments

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

12 Fixed asset investments (Continued)
Listed
investments
£
Cost or valuation
At 1 September 2021 480,820
Additions 80,534
Valuation changes (49,061)
Disposals (60,197)
At 31 August 2022 452,096
Carrying amount
At 31 August 2022 452,096
At 31 August 2021 480,820
Listed investments included above: 2022 2021
£ £
Listed investments carrying amount 452,096 480,820

Fair value of financial assets carried at amortised cost

Except as detailed below the trustees believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

Financial assets
Carrying amount
2022
2021
£
£
Listed investments
452,096
480,820
13
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss		 Fair value
2022
£
452,096
2022
£
452,096		 2021
£
480,820
2021
£
480,820

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other creditors		 2022
£
151
297
448
2022
£
8,823		 2021
£
151
292
443
2021
£
8,584

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Balance at Balance at
1 September Incoming Resources
1 September		 Resources
31 August
2020 resources expended 2021 expended 2022
£ £ £ £ £ £
Donations 3,065 30,000 (3,065) 30,000 (8,594) 21,406

The costs incurred related to Max's Breakfast Club programme.

17 Designated funds

The sum allocated to the designated reserves amounts to an estimate of the programme cost in addition to the salaries and other costs of running the Charity. At the balance sheet date this amounted to £520,388 (2021: £544,628). The remaining funds will be held in the general reserve and are to be used at the Trustees' discretion for opening more programmes and developing the Charity's objectives.

Movement in
funds
Balance at Incoming Balance at Transfers Balance at
1
resources		 1 31 August
September September 2022
2020
£		 £ 2021
£		 £ £
Coaching programme 458,185 86,683 544,628 (24,240) 520,388
458,185 86,683 544,628 (24,240) 520,388

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

18
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
August 2022 are
represented by:
Tangible assets
332
-
Investments
452,096
-
Current assets/(liabilities)
106,218
21,406
558,646
21,406		 Total
Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
332
443
-
452,096
480,820
-
127,624
115,599
30,000
580,052
596,862
30,000		 Total
2021
£
443
480,820
145,599
626,862

19 Related party transactions

There were no disclosable related party transactions during the year (2021: none).