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2023-08-31-accounts

Charity registration number 1140804

GIVE IT YOUR MAX

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

GIVE IT YOUR MAX

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees C Boden
G Brook
D Burles
J Clark
J Cooper
C Hurst-Brown
K Jones
P Riley
E Smith
M Stotesbury
T Stotesbury
J Tacon
M Horn (Appointed 9 February 2023)
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 2023

The trustees present their annual report and financial statements for the year ended 31 August 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 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 busy and positive year on numerous fronts. We implemented our new programme strategy, focusing on the inner cities of Aberdeen, Birmingham, London and Manchester. We also opened one new programme in Liverpool and plan to open an additional new programme in Hull. During the year we reached over 4,000 children working within 46 state primary/ SEN schools, all of which met our support criteria of having a minimum pupil premium level of 35% or above.

Our breakfast club offering (Max’s Breakfast Club) went from strength to strength. With the Government offering state schools across the country funding for breakfast clubs, we have run a reduced number of breakfast clubs to that which we were predicting when we introduced the programme. However, we understand the need and positive impact that this programme has on our children, with or without government funding, so we will continue to support those schools that need our help and which may not be eligible for government funding either now or in the future.

In 2022 we officially launched our nationwide sustainability campaign ‘Unloved and Unwanted’. With sustainability being such a hot topic and quite rightly so, at Give It Your Max we want to make sure that we are doing our bit for future generations. Through racket ‘dropboxes’ located within tennis clubs across the country and social media campaigns, we ask the nation for unwanted tennis rackets (child or adult). We then regrip each one and distribute the children’s rackets to the children participating in our programmes so that each child has their own tennis racket making tennis outside of GIYM sessions more affordable and accessible. The surplus of children’s rackets as well as the adult rackets collected are now listed for sale on our merchandise site which sits on the main GIYM website and all proceeds go back into the charity benefitting our programmes. A special thanks to Owen Purcell and his team for their work in producing our impressive looking merchandise site and to Wilson for their support with this campaign, on top of their general support for the charity.

GIVE IT YOUR MAX

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Event wise it was a busy year and we are proud to have welcomed a record number of guests to a variety of fundraising events throughout the year. Whether GIYM supporters wanted to play a bit of tennis and Padel with friends, test out their new handicap on a prestigious golf course, or sing their hearts out to Christmas carols, we had something for all. We closed out 2022 with our second annual Christmas Carol Concert at St Mary’s Church SW19 and had the generous support of our player ambassador Harriet Dart, along with professional players Liam Broady, Laura Robson, Eden Silva and Olivia Nicholls. We held a well-attended annual padel event at the NTC, and our Bradfield College mixed doubles tournament continued to embody the joy of playing competitive tennis with family and friends. We were lucky enough to enjoy a memorable golf day at Huntercombe Golf Club which greatly supplemented our fundraising efforts on account of the oncein-a-lifetime raffle prizes generously donated by our sponsors and supporters. We remain humbled by and grateful for the generosity of our sponsors, event attendees and charity ambassadors who somehow are able to prioritise GIYM in their busy schedules.

The Wimbledon Championships was once again a busy time for the charity. It was our third year collaborating with DropShot coffee shop and we very much appreciate their continued support. We hope to collaborate with more local shops and businesses within the SW19 area during the 2024 Championships.

In other fundraising, we are grateful to Luisa Markides for running the London Marathon and Becci Williams for completing the three peaks challenge and one of our programme coaches, Matthew Hillman, who completed a 24-hour tennis marathon, all in aid of Give It Your Max.

Our work throughout the year would not have been possible if it were not for the support of private donors, trusts and foundations and federations/businesses within tennis. We would like to pay special thanks to the Lawn Tennis Association, Wimbledon Foundation, GS Capital Partners, Steel Charitable Trust, Hargreaves Foundation, Inchcape, Rowlandson Trust and London Wall Partners.

Financial review

During the financial year, we received a total income of £168,183 (2022: £163,203). Total expenditure of the running of the programmes and fund raising activities amounted to £231,779 (2022: £168,692). The net expenditure for the year was £71,236 (2022: £46,810) after net loss on investment of £7,640. Charity funds totalled £508,816 at 31 August 2023 (2022: £580,052).

When considering the net expenditure of £71,236 during the financial year, it is noteworthy to highlight the increase of the Charity’s programme delivery investment (£60,435). In 2023 the Charity spent £111,935 on programme delivery, compared to programme delivery expenditure of £51,500 in 2022. This increase was in part due to us transitioning to a new, more focused and higher impact programme strategy (see above), targeting the inner cities of Birmingham, Manchester, London, Liverpool and Aberdeen.

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 two and a half 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 £394,040 (2022: £520,388). 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 2023

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 2023, the valuation of the investments in the balance sheet was at market value of £452,505 (2022: £452,096).

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 and self-esteem, high levels of obesity and inactivity, anti-social behaviour and gang crime and low levels of aspiration. With an unwavering commitment to delivering high quality programmes, we aspire to create positive and impactful moments that contribute to the child’s overall growth and wellbeing.

In the coming year, we are dedicated to forging impactful partnerships with brands and businesses, aligning their values with our mission. As well as collaborating closely with our esteemed ambassadors and patrons, we seek to amplify awareness of our charity, fostering a collective effort to make a lasting difference to the lives of vulnerable children across the UK.

Our sustainability campaign ‘Unloved and Unwanted’ will continue to be a cornerstone, promoting environmental responsibility and social change.

In the upcoming months, we are set to host a number of diverse fundraising events that will not only captivate but also drive meaningful contributions towards our mission. Our events are designed to cater to a wide audience, ensuring there is something for everyone.

And finally, a heartfelt thank you to our invaluable network of supporters – and especially to the committed brands that stand by our side, our esteemed ambassadors and patrons whose dedication is unwavering, and the trusts and foundations that generously fuel our mission.

GIVE IT YOUR MAX

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

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 G Brook D Burles J Clark J Cooper C Hurst-Brown K Jones P Riley E Smith M Stotesbury T Stotesbury J Tacon M Horn (Appointed 9 February 2023)

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: 1 February 2024

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 2023.

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: 1 February 2024

GIVE IT YOUR MAX

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
99,624
9,576
Other trading activities
3
50,971
-
Investments
4
8,012
-
Total income
158,607
9,576
Expenditure on:
Costs of raising funds
5
45,321
-
Cost of charitable
activities
6
186,458
-
Total expenditure
231,779
-
Net gains/(losses) on
investments
10
(7,640)
-
Net movement in funds
(80,812)
9,576
Fund balances at 1 September
2022
558,646
21,406
Fund balances at 31 August
2023
477,834
30,982		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
109,200
91,294
-
50,971
65,351
-
8,012
6,558
-
168,183
163,203
-
45,321
52,235
-
186,458
107,863
8,594
231,779
160,098
8,594
(7,640)
(41,321)
-
(71,236)
(38,216)
(8,594)
580,052
596,862
30,000
508,816
558,646
21,406		 Total
2022
£
91,294
65,351
6,558
163,203
52,235
116,457
168,692
(41,321)
(46,810)
626,862
580,052

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 2023

Notes
Fixed assets
Tangible assets
12
Investments
13
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		 2023
£
513
78,960
79,473
(24,206)
394,040
83,794		 £
1,044
452,505
453,549
55,267
508,816
30,982
477,834
508,816		 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

The financial statements were approved by the Trustees on 1 February 2024

M Stotesbury Trustee

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

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 2023

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 2023

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
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
63,021
-
Grant receivable
36,603
9,576
99,624
9,576
Grants receivable for core activities
Coronavirus Job Retention Scheme grant
-
-
Other
36,603
9,576
36,603
9,576		 Total
Unrestricted
funds
2023
2022
£
£
63,021
90,744
46,179
550
109,200
91,294
-
550
46,179
-
46,179
550		 Total
Unrestricted
funds
2023
2022
£
£
63,021
90,744
46,179
550
109,200
91,294
-
550
46,179
-
46,179
550
91,294
550
-
550

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

3 Other trading activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising events 49,871 65,351
Sponsorships and social lotteries 1,100 -
Other trading activities 50,971 65,351

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 7,460 6,491
Bank interest 222 40
Interest receivable 330 27
8,012 6,558
Costs of raising funds
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Staging fundraising events 12,688 28,052
Other fundraising costs 28,521 19,200
Fundraising & events 41,209 47,252
Fund management 4,112 4,983
45,321 52,235

5 Costs of raising funds

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

6 Cost of charitable activities

Coaching programme
Other
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
19,733
-
Sundry expenses
4,934
-
Bank charges
183
-
Depreciation
348
-
Salaries and wages
41,120
-
Insurance
712
-
Professional services
312
-
Pension costs
1,007
-
Accountancy fees
3,600
2,574
71,949
2,574
Analysed between
Charitable activities
71,949
2,574		 2023
£
108,359
3,576
111,935
71,949
2,574
186,458
186,458
-
2023 Support costs
Governance
costs
£
£
£
19,733
15,538
-
4,934
4,131
-
183
181
-
348
111
-
41,120
34,790
-
712
704
-
312
2,694
-
1,007
1,654
-
6,174
2,934
2,220
74,523
62,737
2,220
74,523
62,737
2,220		 2022
£
51,500
-
51,500
62,737
2,220
116,457
107,863
8,594
2022
£
15,538
4,131
181
111
34,790
704
2,694
1,654
5,154
64,957
64,957

7 Support costs

Governance costs includes payments to the independent examiner of £2,574 for the independent examination (2022: £2,220).

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 2023

9 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Chief Executive 1 1
Coaching staff 1 1
Total 2 2

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

10 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Movement in valuation of investments (4,410) (42,841)
Gain/(loss) on sale of investments (3,230) 1,520
(7,640) (41,321)

11 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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 September 2022 2,250
Additions 1,060
At 31 August 2023 3,310
Depreciation and impairment
At 1 September 2022 1,918
Depreciation charged in the year 348
At 31 August 2023 2,266
Carrying amount
At 31 August 2023 1,044
At 31 August 2022 332

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

13 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 September 2022 452,096
Additions 99,114
Valuation changes (7,640)
Disposals (91,065)
At 31 August 2023 452,505
Carrying amount
At 31 August 2023 452,505
At 31 August 2022 452,096
Listed investments included above: 2023 2022
£ £
Listed investments carrying amount 452,505 452,096

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
2023
2022
£
£
Listed investments
452,505
452,096
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 Fair value
2023
£
452,505
2023
£
214
299
513		 2022
£
452,096
2022
£
151
297
448

14 Debtors

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
1,115
2,075
21,016
24,206		 2022
£
-
3,783
5,040
8,823

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
Balance at Resources Balance at Incoming Balance at
1 September expended 1 September
resources		 31 August
2021 2022 2023
£ £ £ £ £
Donations 30,000 (8,594) 21,406 9,576 30,982

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 £394,040 (2022: £520,388). 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.

Balance at Transfers Balance at Transfers Balance at
1 September 1 September 31 August
2021 2022 2023
£ £ £ £ £
Coaching programme 544,628 (24,240) 520,388 (126,348) 394,040
544,628 (24,240) 520,388 (126,348) 394,040

GIVE IT YOUR MAX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

18
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
August 2023 are
represented by:
Tangible assets
1,044
-
Investments
452,505
-
Current assets/(liabilities)
24,285
30,982
477,834
30,982		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
1,044
332
-
452,505
452,096
-
55,267
106,218
21,406
508,816
558,646
21,406		 Total
2022
£
332
452,096
127,624
580,052

19 Related party transactions

There were no disclosable related party transactions during the year (2022: none).