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← The Chartered Institute For The Management Of Sport And Physical Activity

2025-03-31-accounts

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

(incorporated by Royal Charter)

Report and Financial Statement

For the year ended

31 March 2025

Company registered number: RC000849 Charity registered number: 1144545

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Contents Page
Trustees’ Report 1 - 15
Independent Auditors’ Report 16 - 18
Statement of Financial Activities 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 - 37

The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Chartered Institute for the Management of Sport and Physical Activity (the Institute) for the year ended 31 March 2025. The Trustees confirm that the annual report and financial statements of the Institute comply with the current statutory requirements, the requirements of the Institute's governing document and the provisions of the Statement of Recommended Practice: "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS102)" second edition effective from January 2019.

The Institute is also known by the acronym CIMSPA.

Our Purposes and Activities

Policies and objectives

The purposes of the Institute as set out in its Charter are:

(a) to promote and advance public health by encouraging active participation in sport or other healthy recreation for the public benefit; and

(b) to promote for the public benefit the safety of facilities and services provided for active participation in sport or healthy recreation

in particular (but not exclusively) by:

(i) promoting excellence in the management and development of such facilities and services including sporting and recreational events and sports tourism.

(ii) advancing education, practical training, and the dissemination of knowledge amongst practitioners employed or engaged in the provision of such facilities and services.

(iii) carrying out or promoting research into and promoting awareness and understanding of the health and other benefits of well managed sport and recreation facilities and services.

CIMSPA seeks to achieve these purposes through the mechanisms of defining and promoting standards in best practice, customer care, education and professional development amongst its membership as engaged in the sport and physical sector and more widely through the key stakeholders, organisation’s, employees, and volunteers

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

operating in the sector.

Through these mechanisms CIMSPA aims to be a unifying voice driving sector growth and accredited to develop the workforce of tomorrow, providing opportunities for young leaders to develop and succeed, and providing leadership on the development and management of career pathways.

Public benefit

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the Charity.

The Charity Commission in its “Charities and Public Benefit” Guidance states that there are two key principles to be met in order to show that an organisation’s aims are for the public benefit: firstly, there must be an identifiable benefit and secondly, that the benefit must be to the public or a section of the public. The Trustees are satisfied that the aims and objectives of the charity, and the activities reported on below to achieve those aims, meet these principles. CIMSPA’s achievements in support of our charitable objectives are set out below, together with plans for the future, the further development of our services and encouragement of increasing standards within the sector, through which we in turn increase quality of service for the public benefit.

Any surpluses generated are invested to increase the Institute’s ability to deliver services more effectively and further develop our charitable aims.

Strategies for achieving objectives.

CIMSPA released its strategy 12 months ago –” Releasing the Power of our Profession “

“Releasing the Power of our Profession” sets out our commitment to six system

interventions which will deliver the individual and collective recognition that our sector workforce needs and deserves. And it illustrates the phenomenal additional impact that the profession will have through that recognition.

It ensures that as a profession we can maximise our agility to embrace emerging trends, and be positioned exactly where society needs us to be, to scale up the incredibly valuable contribution that we make to the health and wellbeing of the nation.

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Our strategy sets out a recognised, achievable career path for everyone that is in or wants to be part of our sector with entry routes, progression and status recognition that meet the needs of both the individual and the employer.

It ensures that training, qualifications and skills development opportunities are high-quality and meet the changing needs of the sector. It provides a foundation built on local needs, helping the right skillsets to be available in the right places, at the right time. It helps more people to engage in sport and physical activity and have safe, enjoyable experiences.

What we set out to achieve in this strategy cannot be pursued in isolation. That is why the foundation of Releasing the Power of our Profession, is our continued work to enhance the professional standards and education ecosystem that the sector has tasked CIMSPA to create.

Our strategy will deliver professional recognition through six system interventions.

Local skills plans / local skills delivery : Local skills plans success through local delivery. Brokering supply and demand – the right training, delivered in the right place, at the right time, to the right people.

National Training Academy / education ecosystem : Harnessing recent skills legislation to increase the positive impact of our quality-assured education delivery ecosystem.

Careers support : Continually improve the recruitment, training, retention and support of a diverse and inclusive workforce.

Business support hub : Enhancing business resilience and success for sector enterprises with a focus on smaller employers and those in a startup phase.

Workforce governance : Ensuring a professional, well-governed sport and activity workforce delivering safe and high-quality participation opportunities for all.

Workforce obervatory :: Developing research-led insights to anticipate and respond to sector needs.

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

UK sport and physical activity skills observatory : Leading an exciting new venture for our sector. Research-informed decision-making – moving from insight to foresight.

CIMSPA strategy system interventions – progress update

CIMSPA strategy system interventions – progress update
Intervention System intervention 2025
goal		 Spring 2025 update
Local skills
delivery		 By 2025 we will have a UK-
wide network of established
local skills hubs that deliver
against their local skills
plans by working effectively
with the CIMSPA National
Training Academy. The local
skills delivery team will
inform the local sector skills
plans and support local
economic, health, social and
wellbeing priorities.		 ON TRACK •
34 local skills accountability boards
working with CIMSPA
•
Engagement with over 1,000
partners at the local level
•
First five local skills plans
implemented
•
Continuous local skills diagnostics
process ongoing with over 800
completed
National
training
academy and
education
ecosystem		 By 2025 we will have a
network of quality-assured
education partners that can
respond to the training
needs highlighted in each
local skills plan.		 ON TRACK •
Training Academy for Sport and
Physical Academy launched
•
Over 120 education partners now
hold our highest quality assurance
status
•
Further education partnership
launched and actively aligning
curricula with local employer needs
•
Over 1,900 endorsed education
products within the sector,
enhancing flexible learning pathways
Careers
support		 By 2025 we will have
launched the sector’s first
careers support system. This
will feature pathways that		 ON TRACK •
New career guidance course
launched and signposting learners
and career changers to our sector

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FOR THE YEAR ENDED 31 MARCH 2025

are understood by all
stakeholders and
underpinned by occupational
maps, giving multiple
opportunities for the
workforce to achieve their
career aspirations.		 •
Department for Work and Pensions
working with CIMSPA at scale to
connect job seekers and those not
in education to our employers
•
Integration of our careers hub
resources, jobs board and training
academy into a new single online
portal ready for launch
Business
support hub		 By 2025 we will have
established our business
support hub as a crucial
support for small and micro
businesses and sole traders
to be more resilient and
adaptable.		 INSIGHT & RESEARCH UNDERWAY •
New business diagnostic process
launched in August 2024, focused
particularly on the needs of sole
traders and micro-enterprises, with
over 100 diagnostics already
completed
•
This insight will determine how we
build out our business support
intervention in the coming year
Workforce
governance
project		 By 2025 we will have
completed the two-year
project that Sport England
and UK Sport commissioned
to define what an effective
workforce governance culture
looks like.		 ON TRACK •
Commissioned Sport England and
UK Sport project work completed
•
The final report is on track to be
delivered in Spring 2025

Please read our 2024/25 Impact report for a detailed look at what we have delivered in the past 12 months CIMSPA strategy - update and impact report

Achievements and performance

Through the delivery of our strategy;

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Significant charitable activities undertaken.

The Institute’s significant charitable activities fall into two main categories:

Memberships and Partnerships – extending the reach of the Institute and sector alignment with our aims and objectives through the mechanism of increasing active memberships and formal organisational partnerships.

Through our employer relationships, CPD events and social media we seek to demonstrate the value of membership to those working in the sector, demonstrating the career pathway available to them and the support for this pathway we can facilitate. This increases our influence in the sector and the ongoing development of its services to the public.

Goods and services – promotion and expansion in the Institute’s range of endorsed qualifications, training courses and insight and data, guidance materials available to support members’ CPD requirements and opportunities, and the development of best practice in the sector generally, in support of our aims and objectives.

We partner with higher and further education, awarding organisations and training providers to formally recognise courses and qualifications relevant to those in the sector, and to ensure these are of a high standard. We partner with experts in the field to provide best practice guidance to the sector through our publications and guidance. Through the development of the sector workforce, we are able to improve the quality of its services to the public over time.

Investment policy and performance

The Trustees’ policy for investment of surplus funds is to invest for the longer term (10 years plus), whilst providing a sustainable level of income from the portfolio combined with the prospect of growth in both capital and income. The investment objective is therefore based upon a total Return Strategy. This is subject to moderate risk, delegating day to day investment decisions to appointed fund managers, in accordance with their powers under the Institute’s Charter. Following advice from Barclays Wealth, the appointed fund managers, the investments were transferred to Barclays Charity Fund – Discretionary

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The Chartered Institute For The Management Of Sport And Physical Activity

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

portfolio in February 2017. The Fund set the objective of achieving a sustainable income stream and the potential to maintain the purchasing power of the portfolio. This incorporated an income yield target of 3.5%. The overall return is benchmarked against a basket of various well-established investment assets and indices.

Fund performance to the end of March 2025 reports a small negative downturn of £165 during the year. This year’s return resulted in a closing fund value of £221,368 at the end of the year (2023/24 £221,534). The realised and unrealised gains and losses arising in the year are shown in the Statement of Financial Activities.

Financial review

The Institute achieved an operating deficit of £104,660 in the year ended 31 March 2025 (31 March 2024: deficit of £209,227). Of this £112,947 (2023/24 £228,876) sits within a designated fund as the reserves held as Intangible Fixed Assets funded by Sport England grant monies.

CIMSPA is a named Systems Partner of Sport England with a confirmed 5 years’ worth of funding to

2026/27 totalling £11.25m. CIMSPA was also in receipt of two additional grants, these being Workforce Governance (£2m over 2 years) and Local Skills (£2.5m over 2.5 years).

Principal sources of funding

CIMSPA generates income through its memberships, partnerships and those activities undertaken in support of its charitable objectives, including income from investments. CIMSPA’s 2024/25 activities continued to be significantly supported by Sport England. This grant funding helps to support investment into improved member services and facilities and sector changing guidance on standards as CIMSPA looks to raise the desirability and professionalism of the industry.

Principal risks and uncertainties

The Trustees have assessed the major risks to which the Institute is exposed, in particular those related to the operations, reputation, governance and regulatory matters, competitive environment and finances of the Institute, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

We have developed a new process for risk reporting and the Board has agreed on its risk appetite

The Chartered Institute For The Management Of Sport And Physical Activity

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

statements around financial risk, operational risk and reputational risk. Through the adoption of the new risk management framework, we have identified the 10 corporate risks that have been placed in one of the three categories. Each risk has a set of mitigations and controls that are monitored quarterly by the SLT, Audit & Probity Committee and the Trustees.

The one risk that currently sits outside of our risk tolerance relates to;

The Trustees mitigate risk in several ways;

Responsibility for monitoring of risks and making recommendations on risk management matters has otherwise been delegated to the Audit & Probity Committee, which reports directly to the Trustees.

Reserves policy

Reserves are held to support the continuation and expansion of activities in support of CIMSPA's objectives. The policy is reviewed by Trustees on an annual basis and targets set for retention of surpluses for the following year’s budget. The current target is based upon building free reserves to cover approximately 3 – 6 months of ongoing costs. The reserves target for the next 3 – 5 years is therefore between £293,991 and £1,005,907, averaging at £649,949 to be achieved through the retention of annual surpluses.

Against this policy, CIMSPA’s free reserves are currently in surplus in the sum of £553,973 (2023/2024 - £548,704).

In overall terms unrestricted reserves currently stand at £666,920 (12 months to 31 March 2024 - £771,580) after reflecting a deficit of £104,660 (2023/24 - £209,227). Such reserves include £112,947 (2023/24 - £222,876) represented by tangible and intangible fixed assets realisable only upon disposal.

Structure, governance, and management

Constitution

The Institute is registered as a charity in England. It is a charitable chartered body and was constituted under Royal Charter and Statutes on 5 October 2011.

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The Chartered Institute For The Management Of Sport And Physical Activity

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

CIMSPA’s Charter and Statutes provide governance to CIMSPA, its board and executive team. Derived from the sector legacy of ISRM, ISPAL and IMSPA, CIMSPA was created in 2012 and its Charter reflected the position of the sector at this time.

On the 12 June 2019, The Privy Council approved a revised version of the CIMSPA Charter and Statutes which remains in place today.

Appointment of trustees

Using the annual skills matrix, the board analyses the current board composition, diversity, skills, behaviour, experience, and competency of the board members against the ability to undertake CIMSPA’s objects and drive progress against its current strategy. This exercise highlights skills shortages which helps inform recruitment and training needs.

Up to nine Trustees may be appointed by the board in accordance with the provisions of the Statutes. Such appointments are made on the recommendations of the nominations committee following an open recruitment process, administered by the nominations committee, with final recommendations for appointment proposed to the board.

Up to three Trustees are elected by the membership. Invitations requesting nominations for elected board member positions which are vacant or will become vacant upon the retirement of a Trustee are circulated to all Members. Full members are then invited to vote in the election.

All board members serve terms of up to three years, after the three years, their position will be reviewed in accordance with the skills matrix, board composition and board diversity. The Chair and appointed members may be offered the option of a three-year extension. A maximum of three terms of three years may be served. In cases of elected members, they will be eligible to re-stand for election, for further terms of three years, with a maximum of three terms served.

The CIMSPA Board of Trustees is currently chaired by Marc Woods and is made up of 12 individuals with a wealth of experience both within, and external to the sector to support CIMSPA in the pursuance of our vision and mission.

The Board meet together at least four times per calendar year for the conduct of business.

Board Trustee Trustee
Position		 Start date as
a trustee
Current
term
start date
Additional Roles
Marc Woods Chair 30/09/2017 30/09/2023 Nominations Committee Chair
Remuneration Committee
Chair
Lorna Brooks Elected trustee 14/02/2024 14/02/2024 EDI Sub Group Member

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The Chartered Institute For The Management Of Sport And Physical Activity

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Tracy Levy Elected trustee 14/02/2024 14/02/2024 Membership
Committee
member
Manos
Kapterian		 Appointed
trustee		 22/05/2018 22/05/2024 Senior Independent Trustee
Membership Committee
Chair
Remuneration Committee
member
Elena Portas Appointed
trustee		 15/12/2021 15/12/2024 Youth Panel Advisor
Joelle Conway Appointed
trustee		 15/12/2021 15/12/2024 Disciplinary Committee Chair
Welfare and Safety Lead
Adrian Gaveglia Appointed
trustee		 14/09/2022 14/09/2022 Treasurer
Audit and Probity Committee
Chair
Remuneration Committee
member
Gavin Stewart Co-opted
Trustee		 15/05/2024 15/05/2024 Workforce Governance Sub
Group Member
Alicia Gayle Elected
Trustee		 18/09/2024 18/09/2024

Trustee induction and training

During April 2024 – March 2025 there were:

In May 2025 the following board movement has taken place:

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

New trustees, whether appointed, elected or co-opted are taken through a robust and tailored induction process. This incorporates introductions to the Chair of the Board, the CEO, trustees or committee members and the appropriate executive team members. The main induction session is delivered by CIMSPA’s CEO, the Chair of the Board and the governance team who provide a bespoke introduction to CIMSPA as a Royal Chartered Institute, a Charity and an organisation governed by the Sport England and UK Sport Code for Sport Governance. It informs inductees of their personal and collective responsibilities, their roles, code of conduct and all operational and strategic requirements they need to be aware of, prior to starting their role. A follow-up session is held with the Chief Operating Officer to introduce the Board’s financial responsibilities, and again this is tailored depending on the needs of the individual.

Training needs are assessed on an annual basis and recorded as part of the annual skill matrix review and personal development plan process. Training needs are then reviewed and actioned by the People and Culture and Governance and Compliance teams.

Trustees attended Safeguarding Training for the Board session in January 2025, delivered by the Child Protection in Sport Unit and the Ann Craft Trust, which focused on the Boards responsibilities relating to Safeguarding. They also attended a session delivered by the Chief Operating Officer regarding how to interpret and scrutinise CIMSPA’s management accounts. This was delivered in October 2024 as a follow up to the external financial training delivered in December 2023.

Governance

The Trustees are legally responsible for the governance and management of the Institute.

The board trustees pledge the following;

As the Board of Trustees, our role is to govern and support CIMSPA with passion, enthusiasm, balance, and integrity.

We do this by:

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

To do this we need:

Management

The Trustees are accountable for the strategic direction, governance and risks associated with the Institute. The Trustees are assisted in their responsibilities by the following standing committees:

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Youth Panel continue to support CIMSPA’s governance structure and whilst they do not have delegated authority from the board, they act in the capacity of youth representatives to ensure that CIMSPA’s governance reflects the authentic youth voice. A Youth Panel representative sits on the Membership Committee in a non-voting capacity, and a representative may be invited to attend Board of Trustee meetings to present feedback, participate in discussions or for personal development.

The roles and responsibilities of each committee are set out in more detail in specific Terms of Reference approved by the Trustees. All of the CIMSPA committee and panel Terms of Reference are reviewed and updated on a biennial cycle.

Authority to conduct the day-to-day operations of the Institute is delegated by the Trustees to the Chief Executive and their staff, working within the context of the approved strategic and operational plan and budget. The Chief Executive is responsible for the implementation of policies and strategies as determined by the Trustees.

Governance Codes

As a Sport England System Partner, CIMSPA is required to achieve and maintain compliance with Tier Three of A Code for Sports Governance. This sets out the levels of transparency, diversity and inclusion, accountability and integrity required from organisations in receipt of significant Sport England funding. The Code was recently revised, and CIMSPA was confirmed as compliant with the latest version in September 2024.

As a recipient of funding from Sport Wales, CIMSPA is also required to submit annual evidence of compliance against Sport Wales’ Capability Framework, which we did in June 2024. In addition to this, we completed our first annual self-assessment against the Charity Governance Code in December 2024. This is a voluntary code and, although for organisations in our sector the Code for Sports Governance takes precedence, CIMSPA has committed to also meeting the requirements of the Charity Governance Code wherever practicable.

Remuneration of Key Management Personnel

The Trustees consider the Board of Trustees and the senior leadership team (Chief Executive Officer, Chief Strategy Officer, Chief Operating Officer, the Director of Marketing & Communications and the Director of Digital Transformation and Innovation) to comprise the key management personnel of the Institute in charge of directing and controlling, running and operating the Institute on a day-to-day basis.

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The Chartered Institute For The Management Of Sport And Physical Activity

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Apart from the Chair, the Trustees give their time freely and no other Trustee received any remuneration in the year. The Board acknowledges that the role of Chair requires a high level of support and commitment from the CEO and Trustees and therefore offers an appropriate remuneration package, which was approved by the Charities Commission.

The Chief Executive Officer is responsible for reviewing the remuneration of other key management personnel within the bounds of the overall budget approved by the Board.

The Chair has responsibility for the setting and monitoring of the Chief Executive Officer’s performance targets, upon which potential additional earnings are based. This is then considered by the Remuneration Committee.

Relationships with related parties

Relationships with related parties are described within note 12 to these accounts.

Reference and administrative details
Company registered number RC000849
Charity registered number 1144545
Registered office and principal office SportPark Loughborough University
3 Oakwood Drive
Loughborough
Leicestershire
LE11 3QF
Trustees Marc Woods (Chair)
Dr Jon Argent (resigned 7thSeptember 2024)
Lorna Brooks
Joelle Conway
Jonathan Drakes (resigned 19thFebruary 2025)
Donna Fraser OBE OLY (appointed 15thMay 2024,
resigned 19thFebruary 2025)
Adrian Gaveglia
Alicia Gayle (appointed 18thSeptember 2024)
Manos Kapterian
Tracy Levy
Elena Portas (resigned 8thMay 2025)
Rowena Samarasinhe (resigned 15thMay 2024)

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Gavin Stewart (appointed 15thMay 2024)
Key Management Personnel: Tara Dillon (Chief Executive Officer)
Spencer Moore (Chief Strategy Officer)
Kay Simnett (Chief Operating Officer)
Annette Wade-Clarke (Director of Marketing and
Communications)
Ritchie Brett (Director of Digital Transformation and
Innovation)
Auditors HaysMac LLP
Chartered Accountants
10 Queen Street Place
London
EC4R 1AG
Bankers Lloyds Bank PLC
37 – 38 High Street
Loughborough
Leicestershire
LE11 2QG
Investment Managers Barclays Wealth
Barclays Investment Solutions Limited
One Snowhill
Snow Hill Queensway
Birmingham
B4 6GN

Trustees' responsibilities statement

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements

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The Chartered Institute For The Management Of Sport And Physical Activity TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

for each financial year which give a true and fair view of the state of affairs of the Charitable Institute and of the incoming resources and application of resources of the Charitable Institute for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the Charitable Institute and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provision of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed:

This report was approved by the Trustees on 9 July 2025 and signed on their behalf, by:

M{virx,

M. Woods

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AUDITOR'S REPORT TO THE TRUSTEES OF THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of The Chartered Institute for the Management of Sport and Physical Activity for the year ended 31 March 2025 which comprise the Statement of Financial Activity, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 trustees are responsible for the other information. The other information comprises the information included in the Trustees' Report. Our opinion on the financial statements does not cover the other information and,

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AUDITOR'S REPORT TO THE TRUSTEES OF THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

FOR THE YEAR ENDED 31 MARCH 2025

except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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 Charites (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 14, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to its Royal Charter and Bye Laws and those standard to UK charitable membership bodies, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, corporation tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial

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AUDITOR'S REPORT TO THE TRUSTEES OF THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

FOR THE YEAR ENDED 31 MARCH 2025

statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

HaysMac LLP

………………………………………………………………………………… HaysMac LLP 10 Queen Street Place Statutory Auditor London EC4R 1AG 16/07/2025 Date: ………………………………………………

HaysMac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

19

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account)

FOR THE YEAR ENDED 31 MARCH 2025

Year ended 31-Mar-25 Year ended 31-
Mar-24
Restricted Designated Unrestricted Total Total
Funds Funds Funds funds funds
Notes £ £ £ £ £
Income and endowments from:
Charitable activities 2 4,849,663 61,550 1,214,124 6,125,337 7,364,353
Other trading activities 3 - - 4,088 4,088 2,966
Investment income 4 - - 60,645 60,645 56,201
Other 5 - - 81,723 81,723 50,432
Total 4,849,663 61,550 1,360,580 6,271,793 7,473,952
Expenditure on:
Raising funds 6 - - 84,601 84,601 81,671
Charitable activities 7 4,849,663 171,479 1,270,545 6,291,687 7,615,540
Total 4,849,663 171,479 1,355,146 6,376,288 7,697,212
Net (gains)/ losses on
investments 14 - - (165) (165) 14,033
Net income/(expenditure) - (109,929) 5,269 (104,660) (209,227)
Transfers between funds 19 - - - - -
Net movement in funds - (109,929) 5,269 (104,660) (209,227)
Reconciliation of funds:
Total funds brought forward - 222,876 548,704 771,580 980,807
Total funds carried forward 19 - 112,947 553,973 666,920 771,580

All income arises from the continuing activities of the Institute. There were no other recognised gains or losses other than those stated above.

The notes on pages 22 to 37 form part of these financial statements.

20

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

BALANCE SHEET

Company registered number: RC000849

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible assets 13 112,947 222,876
Tangible assets 13 5,100 4,730
Investments 14 221,368 221,534
339,415 449,140
Total fixed assets:
CURRENT ASSETS
Stocks 15 1,950 1,546
Debtors 16 289,665 212,975
Cash at bank and in hand 22 1,289,373 1,535,203
Total current assets: 1,580,988 1,749,724
CREDITORS:amounts falling due
within one year: 17 (1,253,483) (1,427,283)
Net current assets 327,505 322,440
Total net assets: 666,920 771,580
The funds of the charity:
Restricted income funds 19 - -
Unrestricted designated funds 19 112,947 222,876
Unrestricted general funds 19 553,973 548,704
Total charity funds 666,920 771,580

Approved by the Trustees and authorised for their issue on 9 July 2025 and signed on their behalf by:

………………………………………………… M. Woods

The notes on pages 22 to 37 form part of these financial statements.

21

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Change in cash and cash equivalents in the year
Cash flows from operating activities:
Net cash (used in)/provided by operating activities
21
Cash flows from investing activities:
Dividends and interest from investments
Purchase of fixed assets
Proceeds from sale of investments
Draw down from investments
Net cash used in investing activities
Cash and cash equivalents at 1 April 2024
Cash and cash equivalents at 31 March 2025
22
(242,996)
(1,089,518)
(2,834)
(43,010)
(245,830)
(1,132,528)
Year ended
31-Mar-25
£
£
Year ended
31-Mar-24
£
£
1,535,203
1,289,373
2,667,731
1,535,203
60,645
(63,479)
-
-
56,201
(99,211)
-
-
(242,996)
(1,089,518)
(2,834)
(43,010)
(245,830)
(1,132,528)
Year ended
31-Mar-25
£
£
Year ended
31-Mar-24
£
£
1,535,203
1,289,373
2,667,731
1,535,203
60,645
(63,479)
-
-
56,201
(99,211)
-
-
(1,132,528)
2,667,731
1,535,203

The notes on pages 22 to 37 form part of these financial statements.

22

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Institute meets the definition of a public benefit entity under FRS102. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

1.2 Preparation of accounts on a going concern basis

Following their assessment of the current position, future forecasts and funding opportunities the Trustees are satisfied that the Institute continues to be a going concern and the financial statements have been prepared on this basis. Formal documentation reflecting the grant award from Sport England referred to in the Trustees Report is expected to be signed in the next month. In addition to this the cashflow forecast for the 12 months hence has been prepared on a prudent basis and shows no liquidity issues forecast. The organisation also benefits from receipt of its grant monies being received upfront of the funded activity spend.

1.3 Legal status of the Institute

The Institute is a registered charity in England and Wales and a chartered body constituted under Royal Charter and Statutes in the United Kingdom, whose registered office and primary place of business is at SportPark Loughborough University, 3 Oakwood Drive, Loughborough, Leicestershire LE11 3QF. It has no share capital. Its principal activities are to promote professional development of its membership and of the sector more widely, through the facilitation of high quality development opportunities aligned to its professional development framework.

1.4 Fund 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 Institute and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or grant-making bodies, or funds which have been raised by the Institute for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

23

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES (continued)

1.5 Income

All income is included in the statement of financial activities when the Institute is entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy. Income is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Our major sources of income are recognised as follows:

Membership and partnership – subscriptions are recognised on an accruals basis in accordance with the subscription period applicable, with amounts related to unexpired subscription periods being deferred to the future period.

Sale of goods and services – income is recognised at the point of despatch of goods or delivery of services in accordance with the terms of the applicable contract.

Grants receivable□(performance related) – grant incomes are recognised at the time and to the extent that the activity required by the funding agreement has been completed,expenditure incurred and any performance conditions attached to the agreement have been met. Income received in advance of the relevant conditions being met is deferred until the criteria for income recognition are met.

1.6 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources

1.7 Apportionment of costs between activities

Support costs are those functions that assist the work of the Institute but are not directly raising funds or charitable activities. Support costs include governance costs, staff costs, back office costs, legal and professional costs, insurance and financing costs. Governance costs are those incurred in connection with administration of the Institute and compliance with constitutional and statutory requirements.

These costs have been allocated between the Institute’s primary cost headings firstly through identifications of any component costs specific to such headings, and thereafter on the basis set out in note 10 to the accounts.

1.8[Significant judgements and estimates ]

Preparation of the financial statements may require management to make significant judgements and estimates.

There are no significant judgements or estimates having a material effect on the financial statements.

24

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES (continued)

1.9 Fixed assets, amortisation and depreciation

All assets costing more than £500 are capitalised with the exception of those purchased with time restricted funding. Those assets are written down at purchase.

Intangible fixed assets are stated at cost less amortisation, and tangible fixed assets are stated at cost less depreciation. Amortisation/depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Intangible assets: Website and CRM: 3 - 5 years straight line Tangible assets: Computer equipment: 2 - 5 years straight line Fixtures and fittings: 10 years straight line

In determining the useful life of tangible assets, consideration is given to historic experience of wear and tear on the assets concerned. For intangible assets, technological advances are such that a useful life of 5 years is considered appropriate in most cases, limited to the minimum licence period if less than 5 years.

Impairment reviews

A review for impairment of fixed assets is carried out annually, and further, where events or changes in circumstances indicate that the carrying amount of the fixed asset may otherwise be overstated. Such events or changes in circumstances include changes in useful life arising from changes in business activities or environment, significant decline in an asset’s market value during the period, or evidence of obsolescence or physical damage to the asset. Impairment losses arising are charged to the statement of financial activities.

Where the impairment is subsequently reduced or removed the carrying value is reinstated to the lower of the revised value or the amount at which it would have been carried had no impairment occurred, the amount of impairment released being credited to the statement of financial activities.

1.10 Investments

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

1.11 Operating leases

Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term.

1.12 Financial Instruments

The Institute only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently at their settlement value at the balance sheet date.

25

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES (continued)

1.13 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

1.14 Debtors

Trade and other debtors are measured at transaction price, less any impairment. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.15 Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value.

1.16 Pensions

The pension costs charged in the financial statements comprise the contributions payable by the Institute during the year for two defined contribution personal pension plans for staff. The Institute contributes up to a maximum of 6% and 10% respectively of an employee’s eligible pay for those employees having such plans.

26

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

2 INCOME FROM CHARITABLE ACTIVITIES

Membership and partnership
Sales of goods and services
Performance related grants receivable
Membership and partnership
Sales of goods and services
Performance related grants receivable		 Restricted
funds
Designated
fundsGeneral funds
Total funds
2025
2025
2025
2025
£
£
£
£
-
-
667,431
667,431
-
-
546,693
546,693
4,849,663
61,550
-
4,911,213
4,849,663
61,550
1,214,124
6,125,337
Restricted
funds
Designated
funds General funds
Total funds
2024
2024
2024
2024
£
£
£
£
-
-
825,082
825,082
-
-
444,092
444,092
5,998,171
97,007
-
6,095,178
5,998,171
97,007
1,269,174
7,364,353

27

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

3 INCOME FROM OTHER ACTIVITIES

Non-charitable trading
INVESTMENT INCOME
Interest receivable		 Restricted
funds
Designated
funds
General
funds
Total funds
2025
2025
2025
2025
£
£
£
£
Restricted
funds
Designated
funds
General
funds
Total funds
2025
2025
2025
2025
£
£
£
£
-
-
4,088
4,088
-
-
4,088
4,088
-
-
60,645
60,645
-
-
60,645
60,645		 General and
Total funds
2024
£
2,966
2,966
General and
Total funds
2024
£
56,201
56,201

4 INVESTMENT INCOME

5 OTHER INCOME

Other income comprises royalties earned from licensing of the Institutes intellectual property rights and operations contribution income in respect of grant management.

6 EXPENDITURE ON RAISING FUNDS

Activities
undertaken
directly
Support
costs
2025
2025
£
£
National & regional events
Non-charitable trading activities
58,033
19,102
5,609
1,857
63,642
20,959		 Total
2025
£
77,135
7,466
84,601
Activities
undertaken
directly
Support
costs
2024
2024
£
£
National & regional events
Non-charitable trading activities
51,093
23,196
5,000
2,383
56,093
25,579		 Total
2024
£
74,288
7,383
81,671

28

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

7 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

8 GOVERANCE COSTS
Memberships and Partnerships
Sale of goods and services
Ancillary trading
Memberships and Partnerships
Sale of goods and services
Ancillary trading		 Activities
undertaken
directly Support costs
2025
2025
£
£
4,755,185
1,249,876
237,020
4,776
-
44,830
4,992,205
1,299,483
Activities
undertaken
directly Support costs
2024
2024
£
£
5,794,949
1,492,951
170,962
6,355
-
73,072
5,965,911
1,572,378		 Total
2025
£
6,005,061
241,796
44,830
6,291,687
Total
2024
£
7,287,901
177,317
73,072
7,538,289
Governance costs comprise the following:
Auditors’ remuneration - audit
Auditors’ remuneration - other
Other professional services
Trustee indemnity insurance
Board, Committee and General meeting expenses
Directly allocated salaries
Chairman’s fees		 2025
£
2024
£
21,300
4,933
-
2,880
27,366
145,396
6,667
208,572
18,775
5,658
-
2,880
30,918
134,756
6,667
199,654

29

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

9 ALLOCATION OF SUPPORT and GOVERNANCE COSTS

Total:
The allocation is based upon
staff costs in each instance
Governance costs
Staff & related costs
Office costs
Legal & professional costs
Insurance and financing costs		 20,959
Raising
Funds
2025
£
3,295
1,309
8,232
4,884
3,239		 1,249,876
4,776
50,940
Charitable Activities
Memberships
and
partnerships
Sale of
goods and
services
Ancillary
trading
2025
2025
2025
£
£
£
196,517
751
8,009
78,074
298
3,182
490,889
1,876
20,007
291,230
1,113
11,869
193,166
738
7,873		 Total
2025
£
208,572
82,863
521,004
309,096
205,016
1,326,551
Total:
The allocation is based upon
staff costs in each instance
Governance costs
Staff & related costs
Office costs
Legal & professional costs
Insurance and financing costs		 25,578
Raising
Funds
2024
£
3,214
3,733
12,130
2,288
4,213		 1,492,951
6,356
63,867
Charitable Activities
Memberships
and
partnerships
Sale of
goods and
services
Ancillary
trading
2024
2024
2024
£
£
£
187,614
799
8,026
217,889
927
9,321
707,961
3,014
30,286
133,566
569
5,714
245,921
1,047
10,520		 Total
2024
£
199,653
231,870
753,391
142,137
261,701
1,588,752
9,205

30

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

10 NET INCOME / (EXPENDITURE) FOR THE YEAR

This is stated after charging:
STAFF COSTS
Staff costs were as follows:
The average monthly number of employees during the period was as follows:
Average number of employees
86
The number of higher paid employees was:
In the band £60,001 - £70,000
In the band £70,001 - £80,000
In the band £80,001 - £90,000
In the band £90,001 - £100,000
In the band £100,001 - £110,000
In the band £110,001 - £120,000
In the band £130,001 - £140,000
In the band £160,001 - £170,000
2025
£
2025
£
2025
No.
2025
No.
4
-
2
-
1
1
-
1
Amortisation and depreciation of owned fixed assets
Operating Leases:
Land & Building
Annual General Meeting costs
Auditors’ remuneration - Audit fees
Auditors’ remuneration - Other fees
173,038
11,904
1,657
21,300
4,933
Salaries
Chairmans' fees (excluding VAT)
Social security costs
Contributions to defined contribution pension schemes
Other benefits
Termination payments
3,183,099
6,667
351,488
179,232
32,828
37,230
3,790,544		 2024
£
229,918
35,712
1,665
18,775
5,658
2024
£
2,900,286
6,667
299,835
147,809
26,504
7,000
3,388,101
74
2024
No.
2024
No.
4
1
1
1
1
-
1
-

11 STAFF COSTS

During the year, 7 Trustees received reimbursement of expenses totalling £1,113 (2024 – 4 Trustees totalling £1,359.05).

Marc Woods, Chair has received remuneration of £8,000 including VAT (2024 - £8,000 including VAT). No other Trustee received any remuneration or other benefits.

The key management personnel of the Institute comprise the Trustees, the Chief Executive Officer, Director of Strategy, Director of Finance and Resources and Director of Client Services. The total employee benefits of key management personnel of the Institute for the year were £543,101 (2024: £500,448).

31

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

12 RELATED PARTY TRANSACTIONS

The following related party transactions took place with the Institute during the year:

Name of related party and
description of relationship		 Description of transactions(s) Transaction
amount (including
VAT)
Balance at 31-
Mar-25
£
£		 Transaction
amount (including
VAT)
Balance at 31-
Mar-25
£
£
Marc Woods - CIMSPA Chair.
Path to Gold Ltd		 Chairman fees payable FROM
CIMSPA		 £8,000
£2,000
Jon Argent - Board Trustee. Membership fees payable TO
CIMSPA		 £270
£Nil
Lorna Brooks - Board Trustee. Membership fees payable TO
CIMSPA		 £36
£Nil
TracyLevy- Board Trustee Membership fees payable TO
CIMSPA		 £36
£Nil

None of the transactions were subject to any security or guarantees, and all were subject to the supplying organisation's standard terms and conditions as applicable to the type of supply. No amounts were written off or provided against as bad or doubtful debts during the year. Three out of the ten Trustees held membership of CIMSPA for the duration of the 12 months ended 31 March 2025 (3 in 2023/24) on the same terms and conditions applicable to all members. All subscriptions were levied at amounts applicable generally to members within the same membership category, with standard membership payment options available.

32

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

13 INTANGIBLE and TANGIBLE FIXED ASSETS

Cost:
Amortisation and depreciation:
Net book value
At 31 March 2025
At 31 March 2024
At 1 April 2024
Additions
Disposals
At 31 March 2025
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025		 Intangible
Assets
CRM and
Website
£
112,947
222,876
720,388
61,550
-
781,938
497,512
171,479
-
668,991		 Tangible Assets
Computer
equipment
Fixtures and
fittings
Total tangible
fixed assets
£
£
£
37,957
7,237
45,194
1,929
-
1,929
-
-
-
39,886
7,237
47,123
35,332
5,132
40,464
1,559
-
1,559
-
-
-
36,891
5,132
42,023
2,995
2,105
5,100
2,625
2,105
4,730

There were no assets held under finance leases or hire purchase contracts as at 31 March 2025 (2024 – none).

Amortisation is charged to “support costs – insurance & financing costs” before further allocation to activities as described in note 10.

14 FIXED ASSET INVESTMENTS

Market value
At 1 April 2024
Additions
Disposals
Realised gains
Unrealised (loss)/ gains
Other cash movements
At 31 March 2025		 221,127
407
221,534
-
-
-
-
-
-
-
-
-
(165)
-
(165)
330
(330)
-
221,292
77
221,369
UK registered
unit trust
2025
£
Cash
Total
2025
2025
£
£		 207,501
-
-
-
14,033
-
Total
2024
£
221,534

33

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

15 STOCKS
Goods for resale
16 DEBTORS
17 CREDITORS - amounts falling due within one year
Trade debtors
Prepayments and accrued income
Other debtors
Trade creditors
Accruals
Deferred income (note 18)
Taxation and social security
Other creditors		 1,950
2025
£
2025
£
2025
£
113,064
138,578
38,023
289,665
89,257
173,878
838,831
137,986
13,531
1,253,483		 1,546
2024
£
2024
£
105,847
62,494
44,633
212,975
2024
£
139,065
266,412
892,373
103,029
26,404
1,427,283

18 DEFERRED INCOME

Deferred income comprises income in relation to the unexpired membership and partnership subscription periods and in relation to unexpired periods of endorsements, together with income received in advance of the delivery of goods or services, as applicable at the end of the financial year. It also includes deferred grant income related to the unexpired period of grant-funded services themselves recognised as prepayments.

34

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

18 DEFERRED INCOME (Continued)

DEFERRED INCOME (Continued)
At 1 April 2024
Income deferred during the year
Amounts released from previous years
At 31 March 2025
At 1 April 2023
Income deferred during the year
Amounts released from previous years
At 31 March 2024		 Subscriptions
2025
£
339,137
282,382
(339,137)		 Grants
2025
£
412,499
391,938
(412,499)		 Other
2025
£
140,737
164,512
(140,737)
282,382 391,938 164,512
Subscriptions
2024
£
270,068
339,137
(270,068)		 Grants
2024
£
1,704,854
412,499
(1,704,854)
412,499		 Other
2024
£
142,583
140,737
(142,583)
339,137 140,737

19 MOVEMENT IN CHARITABLE FUNDS

Sport England
Restricted
Designated fixed asset
fund
General funds
Sport England
Restricted
Designated fixed asset
fund
General funds		 At 1 April 2024
£
-
222,876
548,704		 Income
£
4,849,663
61,550
1,360,580
6,271,793
Income
£
5,998,171
97,007
1,378,773
7,473,952		 Expenditure
£
(4,849,663)
(171,479)
(1,355,146)		 Gains / (Loss)
on
investments
£
-
-
(165)
(165)
Gains / (Loss)
on
investments
£
-
-
14,033
14,033		 At 31 March
2025
£
-
112,947
553,973
771,580 (6,376,288) 666,920
At 1 April 2023
£
-
353,774
627,033		 Expenditure
£
(5,998,171)
(227,905)
(1,471,135)		 At 31 March
2024
£
-
222,876
548,704
980,807 (7,697,212) 771,580

Restricted funds relate to the Sport England grant set out in note 3. Many of the key aims and objectives of CIMSPA outlined in the Trustees report dovetail with those of Sport England. The grant is provided to support these aims.

Designated fixed asset fund comprise the reserves held as intangible fixed assets.

35

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

20 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year		 Restricted
funds
Unrestricted
designated
funds
Unrestricted
general funds
2025
2025
2025
£
£
£
-
112,947
-
-
-
5,100
-
-
221,368
-
-
1,580,988
-
-
(1,253,483)
-
112,947
553,973		 Total funds
2025
£
112,947
5,100
221,368
1,580,988
(1,253,483)
666,920
21
22		 NET CASH FLOW FROM OPERATING ACTIVITIES
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash at bank and in hand
1,289,373
2025
£
2025
£
(104,660)
Restricted
funds
Unrestricted
designated
funds
Unrestricted
general funds
2024
2024
2024
£
£
£
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
-
222,876
-
-
-
4,730
-
-
221,534
412,499
-
1,337,224
(412,499)
-
(1,014,784)
-
222,876
548,704
Net income/(expenditure) for the year
Adjustments for:
Amortisation and depreciation charges
Losses/ (gains) on investments
Dividends and interest from investments
(Increase)/decrease in stocks
(Increase)/ decrease in debtors
(Decrease) in creditors
Net cash provided by operating activities
173,038
165
(60,645)
(404)
(76,690)
(173,800)
(242,996)		 Total funds
2024
£
222,876
4,730
221,534
1,749,724
(1,427,283)
771,580
2024
£
(209,227)
229,918
(14,033)
(56,201)
(742)
40,560
(1,079,793)
(1,089,518)
1,535,203
2024
£

36

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

There are no debt instruments held, the only net debt is cash and cash equivalents.

23 PENSION COMMITMENTS

The Institute operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the Institute in independently administered funds. The pension cost charge shown in note 11 represents contributions payable by the Institute to these funds.

Pension costs form part of staff costs, and are allocated across activities and between restricted and unrestricted funds on the basis of staff time as described in note 9.

24 OPERATING LEASE COMMITMENTS

The Institute has the following minimum lease payments due in relation to non-cancellable operating leases :

Amount payable within 1 year
Amount payable between 1 and 5 years
Amount payable after more than 5 years		 Land & Buildings
2025
£
Land & Buildings
2024
£
11,904
-
-
35,712
11,904
-

Operating lease costs charged to the statement of financial activities in the year was £35,712 (2024: £34,181).

Under the terms of the lease the Institute has the right to break the day before any anniversary (not before the fifth anniversary), subject to three months’ prior written notice. The lease is due to expire on 31 July 2025.

Operating lease costs recognised in the year are shown in note 10.

37

THE CHARTERED INSTITUTE FOR THE MANAGEMENT OF SPORT AND PHYSICAL ACTIVITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

25 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR

Restricted Designated Unrestricted Total
Funds Funds Funds funds
Income and endowments from: Notes £ £ £ £
Charitable activities 2 5,998,171 97,007 1,269,174 7,364,353
Other trading activities 3 - - 2,966 2,966
Investment income 4 - - 56,201 56,201
Other 5 - - 50,432 50,432
Total 5,998,171 97,007 1,378,773 7,473,952
Expenditure on:
Raising funds 6 - - 81,671 81,671
Charitable activities 7 5,998,171 227,905 1,389,464 7,615,540
Total 5,998,171 227,905 1,471,135 7,697,211
Net losses/(gains) on investments 14 - - 14,033 14,033
Net income/(expenditure) - (130,898) (78,329) (209,227)
Transfers between funds 19 - - -
Net movement in funds - (78,329) (209,227)
Reconciliation of funds:
Total funds brought forward - 353,774 627,033 980,807
Total funds carried forward 19 - 353,774 548,704 771,580

All income arises from the continuing activities of the Institute. There were no other recognised gains or losses other than those stated above.

38