AMENDED Trustees, Report and Financial Statements For year ended 30 June 2022 LTSBO
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) STATEMENT ON THE REVISED ACCOUNTS This set of revised accounts replace the original annual accounts for the financial year ended 30 June 2022., This set of revised accounts are now the statutory accounts of the Company for the financial year ended 30 June 2022., This set of revised aceounls have been prepared as at the date of the original annual aceounls and not as al the date of revision and accordingly do not deal with events between those dales", The original annual accounts did not comply with the Companies Act 2006 and the relevant accounting standards, including the Charity SORP, in relation to the presentation of restricted funds., There were no further significant amendments made consequential upon the remedying of those defects.
Contents The Chair's Statement Trustees, Report Year in Review Fundraising Governance Statement of Trustees, Responsibilities Trustee Details p11 p12 p13 Independent Auditor's Report on the Financial Statements Statement of Financial Activities p17 Balance Sheet p18 p20 p21 Statement of Cash Flows Notes to Financial Statements pl
The Chair's Statement It has been my privilege to be Chair of Leadership Through Sport and Business (LTSB) for the last 10 years since I founded the charity in 2012. I would like to take this opportunity to thank our Staff, Trustees and Patrons for their terrific contributions over this period. When Paul Evans left as CEO in June 20221 also had the pleasure of acting as CEO for 4 months before Rob Burton joined as CEO on November 8th. Rob was previously CEO at Age UK Richmond. On April 1 2023 1 will be succeeded as Chair by Jeff Hayes who has been Chair of Trust for London for the last 10 years. I leave the charity in the hands of Jeff and Rob, our Trustees and our excellent Senior Leadership team, and l am confident that together they can take LTSB to even greater heights. Over the past year the charity has again experienced steady growth despite what I hope will be the back end of the Covid crisis. In this year as in prior years I would like to thank our employers and funders for their support. Many of them are rightly mentioned later in this report. I thank them all, both large and small. Many corporate employers are stepping up to help tackle the Social Mobility issues that the U K faces despite challenges such as Covid. l am inspired by their dedication and courage. l am delighted to mention in particular the Natwest Group that continually rises to these challenges no matter the obstacles. Last but not least I salute our Young People. By the end of 2023 we will have transformed the lives of nearly 1500. Notwithstanding the enormous efforts of all the above participants in this journeyi the Young People themselves still have to do much of the heavy lifting. l am in awe of what they achieve every year and beyond. David Pinchin, Chair p2
Trustees, Report The Trustees present their Annual Report together with the audited financial statements of the Charity for the 1 July 2021 to 30 June 2022. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charity qualifies as small under section 382 of the Companies Act 2000, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Our Vision A world where all young people flourish, regardless of their background. Our Mission Leadership Through Sport & Business (LTSB) prepares, connects and supports young people from disadvantaged backgrounds to careers with major organisations. Our programmes are designed to tackle the structural inequality in education and employment that prevents social mobility- We work with bright young people from economically disadvantaged backgrounds across the UK and unlock their potential through personal and professional development and career-makins employment. We do this by.. Promoting opportunities to those from background$ that are not normally reached Preparing young people for the workplace, and the workplace for the young people Placing candidates in careers, stewarding and contextualising their application Pastoral care - an additional support network for the first year of their career Our Programmes We help young people establish careers in the Business & Finance, Contact Centre, Customer Service, Digital, Legal and Marketing sectors. After our industry-specialised pre-employment programmes prepare them for work, we place them in meaningful roles and support them for the first year of their career. Public Benefit LTSB operates for public benefit and general charitable purposes according to the laws of England and Wales. The Trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken by the Charity during the year, and in planning activities and setting policies for the year ahead. Beneficiaries The beneficiaries of LTSB are young people between the ages of 16 and 24 from disadvantaged backgrounds. p3
Assessment of Public Benefit At each Trustees, meeting, the Trustees review reports prepared by the Senior Leadership Team. The report covers programme impact and results, programme development, policy changes, fundraising i f i nancial performance, and organisational risks. This enables the Trustees to ensu re they are in line with our strategy and that we are effectively operating for the benefit of the public in accordance with our objectives. The Trustees are satisfied that the information provided in the report meets the public benefit reporting requirements. LTSB may also pursue other charitable purpose or purposes according to the law of England and Wales as the Trustees in their absolute discretion shall select from time to time. Year In Review This reporti ng period was still signif icantly im pacted by the pandemic. I n-person recru itment in youth centres and communities was limited, bootcamp delivery remained predominantly online, and business uncertainty often meant that social mobility apprenticeship programmes were diff icult to prioritise. While this posed challenges for recruitment, retention, and placement, nevertheless our pandemic delivery model remained resilient, and we saw continued growth. Digital and Customer Service Our Digital and Customer Service programmes ran in Summer 2021 with young people from Birmingham, Bristol, Edinburgh, London and Manchester. Each bootcamp is three weeks long combining practical employability skills, critical thinking and exclusive industry insights. We delivered five Digital bootcamps to 95 participants, and 60 were placed with Bravura, MJ Hudson, Natwest Group, Renaissance Re and Tori Global, earning an average of £24,100. The Customer Service programme consisted of three bootcamps with 63 participants, 30 of whom were placed at Capco, Clay GBP, Hoares Bank, Natwest Group, Tori Global and Tottenham Hotspur Football Club, earning an average of £21,100. Digital & Customer Service Bootcamp Feedback. 100°A: "The support from the LTSB team has been important to my development" 100/.: '1 would recommend this bootcamp to other young people like me" ' I feel more conf ident" 96%: '1 feel my communication skills have improved 98Y.: I recommend any young person get involved with L TSB os it helps you learn new skills and open up new doors to your future, with great support from the L TSB team. Martin Definitely an opportunity worth takingi especially if you feel like you lack the skills that employers want. You won't regret taking the opportunity to enhance your skills. Georgina 'Available responses range frotn Strongly Agree to Strongly Disagree. Percentages here and throughout reflect respondents who Strongly Agreed or Agreed with the statement. p4
Contact Centre This programme prepares and supports candidates for apprenticeships with career progression at Natwest Group Contact Centres in Belfast, Edinburgh, Greenock, Liverpool and Southend. During the reporting period, we delivered 14 bootcamps, consisting of two weeks of LTSB employability and an additional two-day, on-site work experience. Of the 172 participants, 151 or 88 /ts completed the course, with 120 hired {79/0 of completions). In 2021, these roles paid £18,000, except in Southend, which paid £19,500. In 2022 this rose to £20,000, and £20,200 in Southend. Contact Centre Bootcamp Feedback 100%: "The support from the LTSB team has been important to my development" 99%: "1 would recommend this bootcamp to other young people like me" 97%: '1 feel my communication skills have improved 97%: '1 better understand how to work well in a team" Business and Finance We ran four Business and Finance programmes within this reporting window, including the first stage of a pilot initiative with BDO in Liverpool. In total, 32 young people from Birmingham, Liverpool, London and Manchester attended these bootcamps, with 29 (90/.) completing. Of these, 22 (76/0 of completions) were employed in companies including Bank of Beirut, BKL, Fever-Tree and Mayer Brown. The average national salary was just over £19,700, and the average London salary was nearly £21,000. Legal The development of paralegal and solicitor apprenticeships was signif icantly influenced by the desire to provide access to careers for those from disadvantaged and under-represented backgrounds the industry recognised the need for change. We secured three years, funding to establish a Legal programme, with a six-week pilot bootcamp starting in February 2022. 15 Legal Bootcamp Feedback "The support from the LTSB team has been important to my development" 100%: '1 would recommend this bootcamp to other young people like me" ' I feel my communication skills have improved 11 Completing the paralegal bootcamp with LTSB was one experience that I will never forget. l am so grateful for the skills I have been able to develop over the past O weeks which I know will stick with me all throughout my career. The support you receive from the whole L TSB team right from the beginning is something l appreciated so muchl Henna The programme is an absolute essential for people struggling to find the right puth into law, especially if you are being hindered by UCAS points. They do an excellent job of honing the right skills you need to impress intetviewers and moke it as a paralegal. Joss p5
young people in Birmingham, London, Leeds and Manchester participated, 14 completed and by the end of the reporting period six had been hired by Addleshaw Goddard, Allen & Overy CPS, Horwich Farrelly, Martin Kaye and Merton Council. Volunteering This period continued to see greatly reduced access to offices, and volunteering remained predominantly online. Companies like Bohill Partners, BPP, Capco, Kroll, Macquarie, Michael Page, Morgan McKinleyi Natwest Groupi Post Office and RSM provided their staff, who directly engaged with our beneficiaries through insight days, practice interviews and presentation judging sessions. On the Digital and Customer Service programme, eight bootcamps saw 184 hours of volunteering and 158 hours of mock interviews, representing around 15 interactions with industry figures and potential colleagues per participant. Our Contact Centre programme had five hours of volunteering per bootcamp, plus 221 hours of practice interviews across 14 bootcamps. In Liverpool, the Business and Finance programme benefited from BDO'S close involvement, with 21 volunteers giving over 80 hours. Our Legal programme included 50 hours of insight sessions from external employer partners and guest speakers, with an additional 14 hours of mock interviews. This constitutes a significant and meaningful contribution to the career journeys of our beneficiaries. Without the commitment of volunteers who believe in the value of our work, future apprentices would have a much poorer understanding of the working world. Senior Staff Changes CEO Paul Evans left in June 2022. Everyone at LTSB is grateful for Paul's leadership since his appointment in April 2020. David Pinchi n served as Executive Chai r during the transition period until Rob Burton was appointed as CEO, starting in post on November 7th 2022. Future Plans As we enter a transitional period with an incoming CEO and Chair, we have two areas of focus= Develop existing relationships with employers. Lead employers make a real difference, not only committing to hiring from the demographic we represent but also advocating for changes in their sectors more broadly. Havin9 proved the value of our work, we want to increase our impact with companies like Natwest Group and BDO, securing longer-term contracts and greater certainty about our partnerships. Expand our work to new disciplines, industries and cities. LTSB is always developing new employers and industries to give young people the opportunities they deserve. In Autumn 2022 our first Marketing cohort will begin in London, and we are working with recruitment sector to deliver a Recruitment programme in 2023. po
Fundraising We are grateful to our funders, without whom the work of LTSB would not be possible. We generate funds through a range of income streams. Business development and funding activity is also supported by other colleagues within the organisation and Trustees. We take our fundraising responsibility seriously and have policies in place to ensure good practice, in line with the charity governance code. We have never received a complaint regarding our fundraising practice. We have a Finance and Risk Committee in place which would be the nominated body to handle complaints shou Id they arise. Governance LTSB is registered as a charitable company limited by guarantee and was set up by a Trust deed. LTSB is a well-governed charity with a board drawn from many different sectors, and a clear commitment to continuous learning, improvement and strengthening. Trustees are particularly keen to ensure the voices of young people and staf* are heard at governance level and inform their decision making. Trustee Recruitment and Induction Election, retirement and re-election of Trustees are carried out according to the procedures set out in our Memorandum and Articles of Association, which is our governing document. LTSB reviews and recruits new Trustees to ensure the board is diverse and has the range of skills, knowledge and experience necessary to comply with its collective responsibility. After over ten years in post, Founder David Pinchin will retire as Chair in 2023 and become a Patron. Everyone at LTSB is grateful for his leadership. Jeff Hayes will join the board as Chair from April 1 st 2023. In the reporting period, we made three additions to our board: Gary Duggan has over 30 years, experience in the financial services and insurance industry, running large scale businesses in the UK, Asia and the Middle East. Gary is currently Chief Insurance Off icer at Tesco Bank and CEO of Tesco Underwriting. Dr Toyin Okitikpi worked for many years as a social worker before becoming a social work academic. He is currently a panel member on the Mental Health Review Tribunal, Ministry of Defence Service Complaint, and a Chair for the Chartered Institute for Legal Executives. Cheryl Stokes is the Chief Executive of CNEXT in 2022. Her previous roles include helping launch Duke Corporate Education, where she worked for 18 years, and as a partner at Heidrick & Struggles, where she focused on leadershipfr culture, and inclusion. Cheryl stood down as trustee in December 2022, but continues to support LTSB as a Patron. Julie Anne Carruthers resigned. Everyone at LTSB is grateful for her service. p7
All new Trustees have an induction to ensure their understanding of the role of Trustees under charity law and being a Director under company law. Induction also provides an overview of LTSB, its mandate, policies, procedures, structure, governance, mission and strategic direction with particular reference to the Charity Commission guidance. Role of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co- opted under the terms of the Trust deed. The Board of Trustees meet formally four times a year and have ultimate responsibility for ensuring that.. LTSB complies with statutory and regulatory requirements, the strateg ic di rection is in line with the LTSB constitutional objects, operational and financial management is in line with both LTSB'S strategic goals and the organisation's means, we are answerable to our beneficiaries and to our supporters, and there are adequate systems and procedures in place for good risk management. The Board takes responsibil ity to safeguard funds entrusted to us to positively change the lives of young people from disadvantaged backgrounds.The Board sub-comrnittee provides oversight on Finance and reports to the main Board. We have a zero tolerance policy on fraud, bribery and corruption. Where appropriate, Trustees may take independent professional advice at no personal expense. LTSB has Trustees, Liability i nsurance in place which is reviewed periodical ly. The financial statements have been prepared on the 90ing concern basis. This assumes that the company will continue to operate for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements and will be able to meet their debts as they fall due. The Trustees have reviewed the financial forecast for the next twelve months and are confident that with a healthy cash reserve balance, contracts in place, and fundraising successes that LTSB is on a secure financial footing. We have continued to receive funding in the period since the year-end, and at the date of signing the financial statements, LTSB had sufficient cash to cover more than six months of expenditure. Based on these factors, the Trustees consider it appropriate to prepare the financial statements on a going concern basis. Remuneration Policy for Key Management Personnel Remuneration for LTSB'S key management personnel is decided by CEO, in consultation with the Chair, and submitted to the Board for approval. Financial Review Total incoming resources for the year were £1,534,487 (2021: £1,176,821) and total outgoing resources £1,106,078 (2021: £972,485), producing a surplus of £428,409 (2021: £204,336)- LTSB is pleased to have grown its income once again, and particularly to have received funds from a greater number of funders. We have strengthened our relationship with Natwest Group and, with discussions at an advanced stage, we are confident the contract will be extended. At the year end, the charity had unrestricted (free) reserves of £612,390 (2021.. £460,232). Restricted reserves were £580,300 (2021.. £304,049), giving total net reserves of £1,192,690 (2021.. £764,281. No funds were designated. As part of a wider strategic review, the Trustees will assess designated fund requirements for 2023. p8
Reserves LTSB had 6 months running costs in reserves at the end of June 2022, which the Board and management team agreed was an appropriate level of reseNes. Risk Management and Internal Control In accordance with good governance practices, the Board regularly assesses the major risks to which the Charity is exposed, in particular those relating to the operations and finances of the Charity. Each year the Board undertake a comprehensive review of the risks faced by the Charity and of the steps and procedures needed to avoid and mitigate them, revising its Risk Register as appropriate, and ensuring it is satisfied that the necessary safeguards and procedures are in place, and that it can respond promptly to all foreseeable risks that may arise.A scheme of delegation is in place and the day to day operation of the Charity rests with the CEO. The CEO is responsible for ensuring that the Charity delivers the services specified and that key performance indicators are met. To ensure adherence to the Risk Management policy as stated above, the Charity management.. maintains a Risk Reg ister continually reviews, monitors, takes action and documents risks facing the Charity brings any serious potential hig h risk to the attention of the Board as soon as it is known issues up-to-date Risk Reglster to the board annuallyi as well as any action taken or planned to be taken. Principal Risks & Mitigations We have identified the key risks to LTSB as.. Finance - high proportion of operational income from a single company Safeguarding Recruitment Finance The principal risk to the charity is the proportion of income from a single corporate. We have a strong and developing relationshipi and with discussions at an advanced stage we are confident that the contract will be extended. Nevertheless, loss of this income would signif icantly reduce our ability to mai ntain current levels of expenditure and impact. We have a funding diversification strategy that supports us to generate funds from a range of sources, including institutional and ind ividual donors, events, corporates and commissioned income from contracts. We are continuously identifying new funding streams and corporate partners and are confident in our diversification strategy and pleased with progress. We have good liquidity and strong reserves, including a healthy cash balance. All of this would allow us suff icient time and resource to address any significant changes to the organisation. Safeguarding LTSB'S trustees and senior management team recognise that safeguarding our young people is a priority. As we g row it is inevitable that we will deal with more actual or potential safeguarding issues, especially considering the general increase in mental health support required by young people and the difficulties accessing NHS provision. The delivery team have received training focussing on trauma-informed practice, safeguarding issues are reported as a standing agenda item at executive meeti ngs, and we will appoint a full-time safeguarding off icer in early 2023. p9
Recruitment Our programmes need both young people from disadvantaged backgrounds capable of careers with major companies, and employers committed to social mobility who will provide full-time, living-wage opportunities. Both types of recruitment pose challenges, and some like wider labour market cond itions, especially duri ng the pandemic - are outside our ability to control. I n mitigation, we have a dedicated Employment team to develop relationships with companies, a Communications team to make the case publicly for social mobilityi and a focused recruitment strategy that reviews previous campaigns to refine advertising reach and effectiveness. plo
Statement of Trustees, Responsibilities The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, Report and the f inancial statements i n accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial period. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, includi ng its i ncome and expenditure, for that period. In preparing these f i nancial statements, the Trustees are requi red to.. select suitable accou nti ng policies and then apply them consistentlyi observe the methods and principles of the Charities SORP (FRS 102); make judgements and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other i rregularities. Disclosure of information to auditors Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that i nformation. Auditors During the year, Berg Kaprow Lewis LLP acted as auditor to the company until 31 March 2022. On 31 March 2022, Berg Kaprow Lewis LLP transferred its audit business to a new LLP, BKL Audit LLP. The Trustees consented to treating the appointment of Berg Kaprow Lewis LLP as extending to BKL Audit LLP with effect from 1 April 2022. Under section 487 (2) of the Companies Act 2006, BKL Audit LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for f il ing the accounts with the registrar, whichever is earl ier. Approved by order of the members of the board of Trustees on and signed on their behalf by: Lorraine Emma Barclay 29th March 2023
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2022 Trustees Julie Ann Carruthers Iresiqned 25 November 20211 Darren Gurner David Pinchin Juliet Thompson Patrick Charles Thornlon-smilh Wincie Wong Peter Norman Lodder Lorraine Bsrclay Toyin Okilikpi lappointed 10 February 20221 Gary John Duggan (appointed 10 February 20221 Cheryl Diane Stokes lappoinled 10 February 2022, resigned 16 December 20221 Company registered number 08033634 Charity registered number 1147616 Registered office Gmeme Hughes elo Brabners LLP Horton House, Exchange Flags Livetpool L2 3YL Company secretary Br8bners Secretaries Limited Chief executive officer David Pinchin Independent auditors BKL Audit LLP Chartered Accountants Slatulory Auditor 35 B811ards Lane London N3 1XW Page 12
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LEADERSHIP THROUGH SPORT AND BUSINESS Opinion We have audited the financial statements of Leadership Through Sport and Business (the 'charitable company'l for the year ended 30 June 2022 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of signifi'cant accounting policies. These revised financial statements repla the original financial statements approved by the trustees on 30 March 2023. 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, Iunited Kingdom Generally ACpted Accounting Praclicel. The revised financial statements have been prepared under the Companies (Revision of Defective Accounts and Reports) Regulations 2008 and accordingly do not take account of events which have tsken place after the dale the original financial statements were approved. In our opinion the financial statements.. give a true and fair view, seen as al the date the original financial statements were approved, of the state of the charitable company's affairs as al 30 June 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice seen as al the date the original financial slalemenls were approved., and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011, as they have effect under the Companies (Revision of Defective Accounts and Reports) Regulations 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, 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 lo our audit of the financial stslements in the United Kingdom, Including the Financial Reporting Council's Ethical Stsndard, 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 lo provide a basis for our opinion. Emphasis of matter - revision of the presentation of restricted funds We draw attention to note 16 to these revised financial statements which describes the need for revision of the presentation of restricted funds. The original financial stslements were approved on 30 March 2023 and our previous audit report was signed on that date. We have not performed a subsequent events review for the period from the date of our previous auditor's report lo the date of this report. Our opinion is not modified in this respect. Page 13
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LEADERSHIP THROUGH SPORT AND BUSINESS ICONnNUEDI Conclusions relating to going concern In auditing the financial statements, we have conduded that the Trustees. use of the going concern basis of accounting in the preparation of the original 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 charitable company's ability to continue as a going concern for a period of at least e1ve months from when the original financial ststemenls were authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going conrn are described in the relevant sections of this report. Other information The other information comprises the information induded in the Annual Report other than the financial statements and our Auditors. Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent othetwise explicitly ststed in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing lo report in respect of the following matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Trustees, Report is inconsislenl in any material respect with the financial statements., or sufficient accounting records have not been kept,. or the financial slalements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Page 14
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LEADERSHIP THROUGH SPORT AND BUSINESS ICONnNUEDI Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl 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 neSSary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial ststemenls, the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but lo do so. Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charits'es Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial ststemenls as a whole are free from material misslatemenl, whether due to fraud or error, and lo issue an Auditors, 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 IUKI will always detect a material misststemenl 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 lo influence the economic decisions of users taken on the basis of these financial ststemenls. Irregularities, including fraud, are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oudined above, lo delect material misstalemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, induding fraud is detailed below.. Enquiring of management around actual and potential litigation and claims., Reviewing minutes of meetings of those charged with governance., Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance with applicable laws and regulations. Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. 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 misstalemenl 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 lo 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. As part of an audit in accordan with ISAS IUKI, we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financi81 statements, whether due lo fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may involve Page 15
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LEADERSHIP THROUGH SPORT AND BUSINESS ICONnNUEDI collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstanTrs, but not for the purpose of expressing an opinion of the effectiveness of the charitable company's intern81 control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees. use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions that may cast significant doubl on the charitable company's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention In our Auditors. Report to the related disclosLJres in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our Auditors, Report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and conlenl of the financial ststemenls, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, induding any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and the Companies (Revision of Defective Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charitable company's Iruslees those matters we are required to stale to them in an Auditors. Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. BKL Audit LLP Chartered Accountants Statutory Auditor London Dale.. 0210812023 BKL Audit LLP are eligible lo act as auditors In terms of section 1212 of the Companies Act 2006. Page 16
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations Charitsble activities Investments 157,390 781,766 352 594.979 752,369 781,766 352 745,216 431,561 44 Total income 939,508 594,979 1.534,487 7,176,821 Expenditure on: Raising funds Charitable activities 67,550 719,800 67,550 1,038,528 150,935 821,550 318,728 Total expenditure 787,350 318,728 1.106,078 972,485 Net movement in funds 152,158 276,251 428,409 204,336 Reconciliation of funds.. Total funds brought forward Nel movement in funds 460,232 152,158 304,049 276,251 764,281 428,409 559,945 204,336 Total funds carried forward 612,390 580,300 1,192,690 764,281 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 21 to 40 form part of these financial statements. Page 17
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) REGISTERED NUMBER: 08033634 BALANCE SHEET AS AT 30 JUNE 2022 2022 2021 Note Fixed assets Tangible assets 13 6.681 70,066 6,681 10,066 Current assets Debtors Cash al bank and in hand 14 84.777 1,452,184 163,538 861,971 1,536,961 1,025,509 Creditors.. amounts falling due within one year 15 1350.952} f271,294J Net current assets 1,186,009 754,215 Total assets less current liabilities 1,192,690 764,281 Total net assets 1,192.690 764,281 Charlty funds Reslricled funds.. Reslricled funds 16 580.300 304,049 Totsl restricted funds Unrestricted funds 16 16 580,300 612,390 304,049 460,232 Totsl funds 1,192.690 764,281 Page 18
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) REGISTERED NUMBER: 08033634 BALANCE SHEET {CONTINUED) AS AT 30 JUNE 2022 The entity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtsin an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial slalemenls have been prepared in accordan with the provisions applicable to enlilies subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Lorraine Barclay Trustee Dale.. 0210812023 The notes on pages 21 to 40 form part of these financial statements. Page 19
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2022 2022 2021 Note Cash flows from operating activities Nel cash used in operating activities 592.538 372,553 Cash flows from investing activities Purchase of tangible fixed assets Interest reiVed 12.676} 352 (6,573) 44 Net cash used in investing activities 12,324) 16,5291 Cash flows from financing activities Net cash provided by financing activities Change in eash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 590,214 306,024 861.971 555,94T Cash and cash equivalents at the end ofthe year 1,452.185 861,971 The notes on pages 21 to 40 form part of these financial statements Page 20
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 General infomiation Leadership Through Sport and Business is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Brabners LLP, Horton House, Exchange Flags, Liverpool, Merseyside, L2 3YL. Accounting policies 2.1 Basis of preparation of financial statements The financial slalements have been prepared in accordan with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Leadership Through Sport and Business meets the delinilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Going concern The financial statements have been prepared on the going concern basis. This assumes that the firm will continue to operate for the foreseeable future, being a period of at least e1ve months from the dale of approval of these financial statements and will be able to meet their debts as they fall due. The trustees are very confident that with a healthy cash reserve balan, the multi-year contracts in plaTr and the increase in the number of corporate partnerships, the charity is on a secure footing lo create increased social impact In a financially robust way. The Iruslees are confident in our ability to generate funds from a variety of sources and support our funding diversification strategy. Based on these factors, the trustees consider il appropriate lo prepare the financial statements on a going conr basis. Page 21
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting policies Icontinuedl 2J Income All income is recognised once the Charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. 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 recgonised at the time of the donation. Gifts and seNices received in kind are recognised in the period received to the extent they can be measured reliably. Grants are included in the Statement of Financial Activities on a re1vable basis. The balan of income received for specific purposes bul not expended during the period is shown in the relevant funds on the Balan Sheet. Where income is received in advan of entiilemenl of receipt, ils recognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income lax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the lime of the donation. 2A Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds indudes all expenditure incurred by the Charity to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on direcdy undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2 Government grants Government grants are credited lo the Statement of Financial Activities as the related expenditure is incurred. Page 22
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting policies Icontinuedl 2.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notificab'on of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and depreciation Tangible fixed assets are capitslised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tsngible fixed asset into its intended working condition should be included in the measurement of cost. Al each reporting dale the Charity assesses whether there is any indication of impaimient. If such indication exists, the recoverable amount of the asset is determined lo be the higher of its fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis.. Fixtures, fittings & equipment Office equipment 250 330 Gains and losses on disposals are determined by comparing the prOedS with the carrying amount and are recognised in the Statement of Financial Aclivilies. 2 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 23
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting policies Icontinuedl 2.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has reiVed as advanced payments for the goods or setvices it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pr&tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cosL 2.11 Financial instruments The Charity 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 measured al their settlement value with the exception of bank loans which are subsequendy measured at amortised cost using the effective interest method. 2.12 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial ststemenls. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs 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 lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Critical accounting estimates and areas of judgement In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Page 24
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Income from donations Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Grants and corporate Individuals Fundraising events Donated goods and services Gift Aid 138,099 6,901 2,183 7,075 3,132 594,979 733,078 6,901 2,183 7,075 3.132 Total 2022 157,390 594,979 752,369 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Grants and corporate Individuals 183,683 47,188 90,678 580 382,460 26,789 566, 143 73,977 90,678 580 Fundraising events Gift Aid Government grants 13,838 13,838 To1812021 322, 729 423.087 745,216 As outlined by SORP FRS 102, donated goods and serVIS are lo be included in the accounts valued at the amount the charity would have spent on similar goods or Servi$, should they have not been reiVed as donations. There were no donated goods and services in 2021. Included in the above figures for 2022 are £7,075 of donated goods and services which relates lo events and gym memberships. Volunteer lime is not included in this figure. Income from government grants all relates lo the Coronavirus Job Retention Scheme. Page 25
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Income from charitable activities Unrestricted funds 2022 Total funds 2022 College revenue Employers, contribution Alumni placement 26,730 746,236 8,800 26,730 746.236 8,800 Total 2022 781,786 781,766 unstricted funds 2021 Total funds 2021 College revenue Employers, contribution Alumni placement 30,443 392,468 8,650 30,443 392,468 8,650 Total 2021 431,561 431,561 Page 26
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Investment income Unrestricted funds 2022 Total funds 2022 Investment income 352 352 Unrestricted funds 2021 Total funds 2021 Investment income 44 44 Page 27
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Expenditure on raising funds Fundraising and publicity Unrestricted funds 2022 Total funds 2022 Stsging fundraising events other fundraising costs Staff costs Depreciation 512 2,756 63,874 408 512 2,756 63,874 408 67,550 67,550 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Recruitment 287 287 Other fundraising costs staff costs Depreciation 18,248 117,925 637 18,248 131, 763 637 13,838 137,09T 13,838 150,935 Page 28
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2022 2022 Total 2022 Activities undertaken directly Gifts in kind staff costs Depreciation Support costs Governance costs 144,378 7,075 424,748 4,387 122,417 16,795 SO,833 195,211 7,075 690,079 4,387 124,981 16.795 265,331 2,584 719,800 318,728 1,038,528 Unrestricted funds 2021 Restricted funds 2021 Total 2021 Activities undertaken direcdy Staff costs 128, 160 313,672 2,259 146,730 47,94T 28,976 152,850 157,076 466,522 2,259 147, 746 47,94T Depreciation Support costs Governance costs 1,076 638, 768 182, 782 821,550 Page 29
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysis of expenditure by activities Support and Charitable governance Activities costs 2022 2022 Total funds 2022 Activities undertaken directly Gifts in kind staff costs Depreciation Support costs Governance costs 195,211 7,075 690,079 4,387 195,211 7,075 690,079 4,387 124,981 16.795 124,981 16,795 896,752 141,776 1,038,528 Activities Support 2nd undertaken governance directly osts 2021 2021 Total funds 2021 Activities undertaken directly Staff costs 157,075 466,522 2,259 157,075 466,522 2,259 147,747 47,94T Depreciation Support costs Governance costs 147,747 47,947 625,856 195,694 821,550 Page 30
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysis of expenditure by activities Icontinuedl Analysis of support costs Support Governance costs costs 2022 2022 Total funds 2022 Staff costs 101,660 650 8,389 1,114 2,564 630 101,660 650 8,389 Depreciation Accommodation, sustenance and travel Adminslralion Communications and IT Sundry expenses Loss on disposal of asset Audit & professional fees Governance 2,564 630 74 9,900 74 9,900 16,795 1 6,795 124,981 16,795 141,776 Support Govemance costs costs 2021 2021 Tot81 funds 2021 Staff costs Depreciation Accommodation, sustenance and travel Adminslrab'on 107, 724 518 35,813 173 142,937 691 743 743 1,635 5.336 24,605 3,266 2,160 2,360 1,635 5.336 24,605 3,266 2,160 2,360 71,961 Communications and IT Printing, photography, PR and design Staff recruitment and development Sundry expenses Irrecoverable VAT Audit & professional fees 11,961 147,747 47,947 195,694 Page 31
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 10. Auditors. remuneration 2022 2021 Fees payable to the Charitys auditor for the audit of the Charity's annual accounts 9.900 5,250 11. Stsff costs 2022 2021 Wages and salaries Social security costs 781,348 74.265 672,507 68,715 855.613 741,222 The average number of persons employed by the Charity during the year was as follows.. 2022 2021 Operations Chief Executs've 16 13 Fundraising I partnership management 20 18 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2022 No. 2021 No. In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 Page 32
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 12. Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits {2021- £NIL). During the year, no Trustee expenses have been incurred (2021- £NIL). 13. Tangible fixed assets Fixtures and rittings Office equipment Total Cost or valuation At 1 July 2021 Additions Disposals 4.834 15.079 2.676 {4,1081 19,913 2,676 18,9421 4,834} At 30 June 2022 13,647 13,647 Depreciation At 1 July 2021 Charge for the year On disposals 4.834 5.013 5.445 {3,4921 9.847 5,445 18,3261 4,834} At 30 June 2022 6,966 6,966 Net book value At 30 June 2022 6.681 6,681 At30 June 2021 10,068 10,066 Page 33
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 14. Debtors 2022 2021 Due within one year Trade debtors Other debtors 41,096 412 5,400 57 Prepayments and accrued income 43.269 158.081 84.777 163,538 15. Credltors: Amounts falllng due wlthln one year 2022 2021 Trade creditors 25.272 4,140 11,729 309.811 13,959 Other taxation and social security Other creditors Accruals and deferred income 7,423 249,912 350.952 271,294 Page 34
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Statement of funds Statement of funds - current year Balance at 30 June 2022 Balance at 1 July 2021 Transfers inlout Income Expenditure Unrestricted funds Designated funds 2021 Contact Centre contract 195.190 1195,190) General funds General Funds - 811 funds 265,042 939,508 {787,3501 195,190 612,390 Total Unrestrlcted funds 460,232 939.508 {787.3501 612,390 Restrlcted funds salesforce.com Foundation Fund lo support young people onto our bootcamps Santander UK Foundation Limited 290.948 146.4821 244.466 20.000 120.0001 100,000 123,5721 76,428 2,457 Fund for ment81 health support Macquarie Group Foundation- funding to support young people into apprenticeships The Eveson Trust- funding to support young people in Birmingham Chartered Accountsnts, Livery Charity- funding for young people on our Business and Finance programme Fund for work in Southend 2,457 51.447 60.000 171.4471 40.000 8.000 8,000 10,000 110,0001 13,1591 3,159 GJW Turner Trust- IT for young people in Bimiingham The Walcol Foundation European Social Fund and Education and Skills Funding Agency Fund for training and development of young people 2.000 14581 16.6591 1,542 17,058 23.717 15821 11,176 110,5941 231,144 53,3611 177,783 Page 35
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Statement of funds (continued) Statement of funds - current year {continuedl Balance at 30 June 2022 Balance at 1 July 2021 Transfers inlout Income Expenditure Fund for placing 62 young people into employment The Pilkington Charities Fund- funding to support young people in Livetpool Other Peter Cruddas Foundation- fvnding for young people on our Law programme 20 Fenchurch Street Legacy Fund- funding lo support young people in East London Wellington Management UK Foundation - funding for young people on our Business and Finanee programme 9,772 19,7721 6,000 6.250 16,0001 16.4301 841 661 10.000 110.0001 13,888 11,9831 11,905 3,811 35,000 38,8111 304,049 594.979 {318.7281 580,300 Totsl offunds 764,281 1,534.487 11,106,078) 1,192,690 Page 36
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Statement of funds (continued) The original annual accounts did not comply with the Companies Act 2006 and the relevant accounting standards, including the Charity SORP, in relation to the presentstion of restricted funds. salesforce.com Foundation- piloting our legal and marketing boolcamps. Fund lo support young people onto our boolcamps towards employment. supporting young people lo lake their fi'rst step Sanlander UK Foundation Limited - supporting young people on our digital boolcamps. Fund for mental health support- mental health training for staff. Macquarie Group Foundation- supporting young people into apprenticeships. The Eveson Trust- supporting young people in Birmingham. Chartered Accountsnts, Livery Charity programme. supporting young people on our Business and Finance Fund for work in Southend - supporting young people in Soulhend. GJW Turner Trust- IT for young people in Bimiingham. The Walcot Foundation- supporting young people in Lambelh. European Social Fund and Education and Skills Funding Agency - supporting young people in Greater Manchester. Fund for training and development of young people- supporting young people to gain apprenticeships. Fund for placing 62 young people into employment- supporting young people affected by COVID-19. The Pilkington Charities Fund- supporting young people in Liverpool. Other- supporting young people lo gain apprentiship5. Peter Cruddas Foundation- supporting young people lo gain a legal career. 20 Fenchurch Street Legacy Fund - supporting young people in East London Wellington Management UK Foundation programme. supporting young people on our Business and Finance Page 37
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Statement of funds (continued) Balan at 30 June 2021 Balan at l July 2020 Transfers in/oul Incom8 Expenditure Unrestricted funds Designated funds 2021 Contact Centre contract 195, 190 195, 190 General funds General Funds - 811 funds 482,367 753, T36 {175,865) (195, 190) 265,042 Total Unrestrlcted funds 482,361 753, 736 (775,865) 460,232 Restrlcted funds Recruitment fund Training & development Fund Women's economic empowerment and leadership project Other restricted funds Coronavirus job retention scheme 26,589 25,540 f26,589) (133, 795) 409,249 301,594 22,305 3,150 (22,305) (695) 2,455 13,838 (13,838) 77,584 423,087 (196,622) 304,049 Total of funds 559,945 1, 176,823 {972,487) 764,281 Page 38
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 17. Summary offunds Summary offunds- current year Balance at 30 June 2022 Balance at 1 July 2021 Transfers inlout Income Expenditure Designated funds General funds Reslricled funds 195,190 265,042 304,049 1195,190} 195.190 939.508 594,979 {787.3501 {318,7281 612,390 580,300 764,281 1.534,487 11,106.0781 1,192,690 £195,190 of unreslricled reserves was designated to run the 2021 Contact Centre contracL These have been incurred in this financial year. Summary of funds - prior year Balance at 30 June 2019 Balance at l July 2020 Transfers in/oul Incomg Expenditure Designated funds General funds Reslricled funds 195, 190 (195, 190) 195, 790 265,042 304,049 482,361 77,584 753, 736 423,087 (775,865) (196,622) 559,945 1, 7 76,823 {972,48T) 764,281 18. Analysis of net assets between funds Analysis of net assets between funds- current year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 125,8891 989,231 1350,9521 32,570 547,730 6,681 1,536,961 {350,9521 Total 612,390 580,300 1.192,690 Page 39
LEADERSHIP THROUGH SPORT AND BUSINESS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 18. Analysis of net assets between funds {continuedl Analysis of net assets between funds- prior year Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Tangible fixed assets Current assets Creditors due within one year 10,066 721,459 (271,294) 10,066 1,025,508 (271,294) 304,049 Total 460,231 304,049 764,280 19. Related party transactions During the period, D & G Pinchin donated £Nil12021.. £54,696) to the charity. Other donations from trustees totalled £Nil12021.. £8251- During the year, the charity incurred costs of £Nil12021.. £32,233) for consultancy services provided by Madin Wood Limited, a company of which Darren Gurner, a trustee, is a director and shareholder. The services were provided at a market rate, and at the year end the full balance had been paid. During the period, the charity incurred costs of £4,80012021.. £Nill for consultancy services provided by Caroline Adair Isheridanl, previoLJS CEO and partner of David Pinchin Ichairl after leaving LTSB {beeen July and October 20211. The aggregate renumeration of key management personnel was £359,69712021.. £240,5911- Page 40