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2023-06-30-accounts

cor" Trustees, Report and Financial Statements For year ended 30 June 2023 LTSBe

Contents The Chair's Statement Trustees, Report Year in Review Fundraising Governance Statement of Trustees, Responsibilities Reference and Administrative Information p11 p12 p13 p16 p17 p18 p19 Independent Auditor's Report on the Financial Statements Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to Financial Statements pl

The Chair's Statement On the 1 st of April 2023, it was a real honour and privilege for me to take over the Tole of Chair at Leadership Through Sport and Business (LTSB) from David Pinchin, who founded the Charity in 2012. Over his 12-year tenure as Chair, David, the Trustees, and staff developed LTSB into a leading Social Mobility charity that has transformed the lives of over 1500 young people from disadvantaged backgrounds, who now have a positive long-term future ahead of them. David has rightly become our Founding Patron at LTSB and has left an endurin9 legacy for me and everyone else at LTSB to protect and develop. Since my appointment, I have seen the positive impact that LTSB has on the lives of those we support. From initial interviews to the bootcamps, through to employment and continued support, the LTSB staff ale constantly on hand to encourage our young people, develop their skills, and give them the confidence lo develop a long term career in their chosen profession. Of course, it is also important to recognise the key role our employers playi championing the best from all backgrounds and offering career opportunities that significantly change young people, lives, and in many cases that of their f amilies. It is clear that the need for our Social Mobility programmes will remain high, and it is incumbent upon everyone at LTSB to do all they can to increase the number of young people that we place into our programmes. However, this will only be achieved if LTSB is able to increase the number of employers it works with. That is why one of my immediate priorities has been to develop a clear 5-year strategy for growth, which includes developing long term relationships with a greater number of employers. I have also implemented the restructuring of both the Trustees and Senior Leadership team at LTSB that will enable them to focus their time and efforts on ensurin9 we meet our Charitable mission and objectives. I look forward to giving further updates on our progress over the next few years. Finally, I would like to take this opportunity to thank our Trustees, Patrons, staff, employers, funders, donors, and supporters for the hard work that enables LTSB to deliver their much- needed Social Mobility programmes. I would also like to recognise the importance of the young people, both past and present. Your enthusiasm and commitment to our programmes is remarkable, and LTSB would not be where it is today without your dedication and loyalty. Jeff Hayes OBE, Chair p2

Trustees, Report The Trustees present their Annual Report together with the audited financial statements of the Charity for the period 1 July 2022 to 30 June 2023. 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 2006, 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 can choose their careers. Our Mission LTSB prepares, connects and supports young people from disadvantaged backgrounds to careers with leading 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 lower socio-economic backgrounds across the UK and unlock their potential through personal and professional development and career-making employment. We do this by.. Promoting opportunities to those from under-represented backgrounds Preparing young people for the workplace, and the workplace for young people Placing candidates in careers, stewardin9 and contextualising their application Providing pastoral care - a 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, Digltal, Legal and Marketin9 sectors. After our industry-specialised pre-employment programmes prepare them for work, we place them in meaningful roles and support them throughout the f irst 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 durin9 the year, and in planni ng 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, meetingi the Trustees review reports prepared by the Senior Leadership Team. The reports cover5 programme impact and results, programme development, policy changes, f und raising, f inancial performance, and organisational risks. This enables the Trustees to ensure 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 Business During this reporting period LTSB ran three Business cohorts in Birmingham, Liverpool, and London. These are part-time bootcamps of varying length, co-delivered with education and sport partners. These cohorts held 33 young people, of which 29 completed (85/.). 21 were employed (72/0 of those who completed the bootcamp) at a national average salary of £22,100. (Non-London average was £20,000, and the London average was £24,100.) Our employers were BDO, Blackrock, Capita, Clay GBP, CSCS, Duco, Gallagher, Karios Media, No 5 Chambers, Pen Underwriting, and RSM. Business Bootcamp Feedback. 89%.. "The support from the LTSB team has been important to my development" 89%: '1 would recommend this bootcamp to other young people like me" 95%.. '1 leel more confident" If you are struggling with your own application or interviews for a corporate job then this programme will help a lot in that aspect. It will also boost your confidence so you can do it on your own. Joline This course wos engaging ond lun os well os extremely helpful in developing the correct skills needed for going into the workplace and boosting confidence. Very good opportunity for people wanting to work in professional services. Steven 'Available response5 range liom Stron9ly Agree to Strongly Disagree. Percentages here and Ihroughout rellect respondent5 who Strongly Agreed or Agreed with the staternenl. Contact Centre During this reporting period we ran 14 three-week Contact Centre bootcamps in Belfast (3), Edinburgh (3), Greenock (3), Liverpool (2), Manchester (1), and Southend (2). 214 young people were on programme, with 194 (91°A) completing the bootcamp. These pro9rammes run exclusively with Natwest Group, who hired 135 (Belfast 29, Edinburgh 29, Greenock 25, Liverpool 20, Southend 23, Manchester 9) or 70Y¥ of those who completed. The salaries were £22,590 for those in Southend and £22,455 everywhere else.

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" 95%: '1 feel my communication skills have improved Overall I think the bootcamp was a great success and I learned a lot of new skills and qualities. Cioran delivered everything perfectly ond helped us understand how the rol8 works and what we need to be successful. Aydon There is nothing better that could have been done on the bootcamp with Lynsey - she was amazing and kept everyone going for 2 weeks. Adam Digital And Customer Service These are three-week, full-time bootcamps delivered virtually. 114 young people from Birmingham, Bristol, Edinburgh, Glasgow, London and Manchester made up our 2022 Digital and Customer service cohort, with 98 completing (86/.). Of those who completed the bootcampi 59 /r* were placed at ABRN, Aegon, Amazon, Computershare, Hoare Bank Lloyds Banking Group, Natwest Group or the Post Office at an average salary of £22,800. Digital & Customer Service 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" 93%.. '1 feel more employable" I was someone who joined this bootcamp with no background in any software engineering but at the end.. I left with the knowledge and confidence I needed to get out into the working world. I know now I have the skills and mindset to go for more, This bootcamp honestly helps you in many ways and not just for joining your specific job sector. Mahzeb I would hi9hly recommend L TSB to any young individual trying to get a foot into the working environment, as this bootcamp has given me more of an insight [into work]. It has also boosted my communication skills [and] confidence to present in front of an oudience. Darryl Law and Marketing The Marketing programme ran in London and returned a 100/? completion rate from a cohort of 17. 13 (76 1) were placed with an average salary of £23,000 at Akin Gimp Law, AMS Media, Convatec, Danos Group, FCA, ICE, Jeremy Jacob Letting, Mindful Education, Natwest, Omnicom, SBHL, Schuh, and Specialist Risk Group. The Law programme was delivered remotely to a national cohort of 11, with 100/0 completing the bootcamp, and four (36/.) placed at Carpenters Group, DAC Beachcroft and No.5 Chambers on an average salary of £19,500. p5

Marketing Bootcamp Feedback 100%: '1 would recommend this bootcamp to other young people like me" 94%: "The support from the LTSB team has been important to my development" 100%: '1 feel more employable" The L TSB Pre-employment bootcamp in Marketing is honestly the best choice to see whether that is the path for you. They genuinely care about giving you the best opportunities they can find and getting you noticed by and networking with amazing people from great companies around London. Shante Volunteers We had volunteers from Accenture, Addleshaw Goddard, A113 Media, Alvarez & Marsal, Azets, BDO, BGF, Boyden, BPP, Capco, Charles Taylor, CROWE, The Dano$ Group, Duco, Elements Talent, Ennismore, Hays, Heidrick & Struggles, Hexcel, Holden Partners, Hoptroff, The lon Group, Macquarie Group, Michael Page, Microsoft, Miles Smith, Mitchell Charlesworth, Morgan M¢Kinleyi Natwest Group, OMNICOM, Pearson, Peter Macdonald Recruitment, Pwc, QA, R3, RSM, Sabio Group, Salesforce, Santander, The Specialist Risk Group, Thrive Tech, Vantage Point, and Weightmans. They provided 80 hours of mock interviews, 46 hours of career insights and 12 hours of presentation judging for our Marketing, Business and Law cohorts, and 250 hours of mock interviews, 50 hours of career insights and 20 hours of presentation judging for the Digital and Contact Centre cohorts. For our Business, Law and Marketing cohorts, ACAST, Charles Taylor Fever Tree, Hays, Heidrick & Struggle, ICE, Macquarie Group, Post Office, and RSM provided lacilities and staff, directly engaging with our beneficiaries through in-person insi9ht days, practice interviews and presentation judging sessions. Future Plans We have confirmed a five-year strategy Wlth three main aims.. Ensure more young people are placed into meaningful careers and complete the first year of employment. We have projected consistent but modest growth of our core employment programme, reflecting our commitment to our beneficiaries. In a still-diff icult jobs market, we cannot significantly expand the input of young people without high confidence in a matching output of job opportunities. Increase financial resilience through diversified provision. While our ultimate focus is employment, diversified provision both expand5 our work and increases funding opportunities with three new work streams: a schools programme thal raises aspirations,. a community programme that gives practical tips to young job seekers,. and an employer advocacy programme that will use our impact to create systemic change. Create a culture of high standards, well-being and belonging. We are creating a quality assurance role which will develop delivery staff by assessing them against a new competency framework. We're recognising and rewarding those high standards by investing in professional development, bringing in new employee support systems and policies, and celebrating success. p6

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, but our Finance and Risk Committee are the nominated body to handle complaints should they arise. Fundraising Activities On 30th March 2023 LTSB held a 10th anniversary fundraising gala. The target was to raise £60,000 and the final result, after auction fees, was £57,523. All income and expenditure was incurred during the year. The sale of tickets was carried out by the employment team to employer partners and other stakeholders. This was carried out internally with no external commercial assistance. LTSB used the services of an external Charity auction agency to provide auction items together with gifts given to the charity which were auctioned on the night. Neither LTSB nor any person acting on behalf of the charity was subject to an undertaking to be bound by any voluntary scheme for regulating fundraising, or voluntary standard lor fundraisin9 in respect of activities on behalf of the charity. 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 learningi improvement and strengthening. Trustees are particularly keen to ensure the voices of young people and staff are heard at governance level and inform their decision makin9. Members of the charity guarantee to contribute an amount not exceeding £1 per member to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rig hts. The trustees have no beneficial interest in the charity. 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. Since our last report, two trustees have resigned: Dr Toyin Okitikpi, and Judge Peter Lodder KC. Everyone at LTSB is grateful for their service. 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, structurei governance, mission and strategic direction with particular reference to the Charity Commission guidance. p7

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 strategic d irection 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 is responsible for safeguarding funds entrusted to us to positively change the lives of young people from disadvantaged backgrounds. The board sub-committees 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 ha5 Trustees, Liability in5UTance in place which is reviewed periodically. The financial statements have been prepared on the going 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 ol these financial statements and will be able to meet their debts as they fall due. The Trustees have reviewed the financial forecast fol the next twelve months and are confident that with a healthy cash reserve balance, contracts in place, and fundraising 5ucce55es that LTSB is on a secure financial footing. We have continued lo receive funding in the period since the year-end, and at the date of signing the financial statements, LTSB had suff icient 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 90ing concern basis. Remuneration Policy for Key Management Personnel Remuneration for LTSB'S key management personnel is decided by the CEO, in consultation with the Chair, and submitted to the Board for approval. Financial Review Total incoming resources for the year were £1,760,528 (2022-. £1,534,487} and total outgoing resources £1,310,675 (2022= £1,106,078), producing a surplus of £449,853 (2022.. £428,409). At the year end, the charity had unrestricted (free) reserves of £ 963,171 (2022.. £605,709), fixed assets of £2,936 (2022: £6,681) and designated reserves of £339,835 (2022.. £nil). This resulted in total unrestricted reserves of £1,305,942 (2022: £612,390). Restricted reserves were £336,601 (2022: £580,300), giving total net reserves of £1,642,543 (2022: £1,192,690). Reserves The Trustees believe that LTSB should hold at least six months operating costs in reserve to ensure that the charity can continue to operate effectively in the event of unforeseen circumstances arising. LTSB had sufficient free reserves as at 30 June 2023 to meet this p8

obligation. Due to our investment in staff, operating costs are assessed quarterly to ensure that the levels held are still suff icient to support the charity's growth. 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 Reglster a5 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 Register continually reviews, monitors, takes action and documents risks facing the Charity brings any serious potential h igh risk to the attention of the Board as soon as it is known issues up-to-date Risk Register 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 sin9le company Safeguarding Recruitment Finance The principal risk to the charity is the proportion of income from a single corporate. We have recently had a three-year extension to the contract and high levels of delivery-satisfaction, bul nevertheless loss of this income would signif icantly reduce our ability to maintain current levels of expenditure and impact. Our new five-year strategy has funding diversification as a main aim, with additional programmes which will generate funds from a range of sources, including institutional and individual donors, events, corporates and commissioned income from contracts. 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 sig nificant changes to the organ isation. Safeguarding LTSB'S trustees and senior management team recognise that safeguarding our young people is a priority. As we grow it is i nevitable that we will deal with more actual or potential saf eguarding issues, particularly supporting mental health and housing issues. With the appointment of a safeguarding officer, our reporting and documentation structures have been revised and improved; the delivery team receives annual safeguarding and trauma-informed practice training,. and safeguarding issues are reported as a standing agenda item at executive meetings. 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 are outside our ability to control. In mitlgation, we have a dedicated Employment team to develop relationship5 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. Related parties and relationships with other organisations Details of related parties and relationships with other organisations are included in the related parties note in the accounts. 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 financial statements in 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, including Its income and expenditure, for that period. I n preparing these f inancial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently,. 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 f i nancial statements,. and prepaie the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees ale responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom 90verning the preparation and d issemination of f inancial statements may differ f rom legislation in other jurisdictions. The Tru5tee5 are responsible for keepin9 adequate accounting record5 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 irregularities. 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 chaiity'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 information. Auditors Slade & Cooper Ltd were appointed as the charitable company's auditors and have expressed their willingness to continue in that capacity. This report has been prepared in accordance with the provisions applicable to companies subject to the small companies, regime of the Companies Act 2006. Approved by order of the members of the board of Trustees on and signed on their behalf by: Lorraine Emma Barclay 19 March 2024

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 JUNE 2023 Company number: Charity number.. Registered office.. 08033634 1147610 Graeme Hughes, Brabners LLP, Horton House, Exchange Flags, Liverpool, Merseyside, L2 3YL The charitable company uses the name 'LTSB' as an abbreviation of the registered name. Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows.. Jeff rey Hayes {appointed 1 April 2023) Chair David Pinchin (resigned 1 April 2023) Chair Lorraine Barclay Gary Duggan Darren Gurner Juliet Thompson Patrick Thornton-smith Wincie Wong Peter Lodder (resigned 19 January 2024) Toyin Okitikpi (resigned 9 June 2023} Cheryl Stokes (resigned 16 December 2022) Key management personnel Rob Burton (CEO), Paul Evans (ex-CEO), Deborah Barlow, Rose Hardman, James Hinton, Kate Oprava, Steph Stevens and Pete Ward Bankers HSBC UK Bank PIC 1 Centenary Square, Birmingham, B1 1 HQ Solicitors / Brabners LLP / Brabners Secretaries Limited Company Secretary Horton House, Exchange Flags, Liverpool, Merseyside, L2 3YL Auditors Slade & Cooper Limited Beehive Mill, Jersey Street, Manchester, M4 6JG p12

Independent Auditor’s 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’) for the year ended 30 June 2023, which comprise the Statement of Financial Activities (including the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes. 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 Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 charitable company'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’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, 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.

13

Independent Auditor’s Report (continued)

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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.

14

Independent Auditor’s Report (continued)

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditorsresponsibilities-for-the-audit/. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christy Yun Hing Lau FCCA DChA CTA

Senior Statutory Auditor

for and on behalf of

Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG

20 March 2024

15

Leadership Through Sport and Business

Statement of Financial Activities (including Income and Expenditure account)

for the year ended 30 June 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
490,256
Charitable activities
4
996,528
Investments
5
9,078
Total income
1,495,862
Expenditure on:
Raising funds
6
171,579
Charitable activities
7
630,731
Total expenditure
802,310
693,552
9
693,552
Net movement in funds for the year
693,552
Reconciliation of funds
Total funds brought forward
612,390
Total funds carried forward
1,305,942
Net income/(expenditure) before
net gains/(losses) on investments
Net income/(expenditure) for the
year		 Restricted
funds
£
264,666
-
-
264,666
-
508,365
508,365
(243,699)
(243,699)
(243,699)
580,300
336,601		 Total funds
2023
£
754,922
996,528
9,078
1,760,528
171,579
1,139,096
1,310,675
449,853
449,853
449,853
1,192,690
1,642,543		 Total funds
2022
£
752,369
781,766
352
1,534,487
67,550
1,038,528
1,106,078
428,409
428,409
428,409
764,281
1,192,690

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

16

Leadership Through Sport and Business Company number 08033634

Balance sheet as at 30 June 2023

Note
£
£
Fixed assets
Tangible assets
13
2,936
Total fixed assets
2,936
Current assets
Debtors
14
597,622
Cash at bank and in hand
15
1,194,202
Total current assets
1,791,824
Liabilities
Creditors: amounts falling
due in less than one year
16
(152,217)
Net current assets
1,639,607
Total assets less current liabilities
1,642,543
Net assets
1,642,543
The funds of the charity:
Restricted income funds
18
336,601
Unrestricted income funds
General fund
19
966,107
Designated income funds
19
339,835
Total charity funds
1,642,543
2023		 £
£
6,681
6,681
84,777
1,452,184
1,536,961
(350,952)
1,186,009
1,192,690
1,192,690
580,300
612,390
-
1,192,690
2022		 £
£
6,681
6,681
84,777
1,452,184
1,536,961
(350,952)
1,186,009
1,192,690
1,192,690
580,300
612,390
-
1,192,690
2022
6,681
1,186,009
1,192,690
1,192,690
580,300
612,390
-
1,192,690

The notes on pages 19 to 36 form part of these accounts.

Approved by the trustees on //2024 and signed on their behalf by:

Lorraine Barclay (Trustee)

17

Leadership Through Sport and Business

Statement of Cash Flows for the year ending 30 June 2023

Note
Cash provided by/(used in) operating activities
21
Cash flows from investing activities:
Dividends, interest, and rents from investments
Purchase of tangible fixed assets
Cash provided by/(used in) investing activities
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Increase/(decrease) in cash and cash
equivalents in the year		 2023
£
(267,060)
9,078
-
9,078
(257,982)
1,452,184
1,194,202		 2022
£
592,538
352
(2,676)
(2,324)
590,214
861,970
1,452,184

18

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023

1 Accounting policies

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

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.

Leadership Through Sport and Business meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees are very confident that with a healthy cash reserve balance, the multi-year contracts in place and the increase in the number of corporate partnerships, the charity is on a secure footing to create increased social impact in a financially robust way. The trustees are confident in our ability to generate funds from a variety of sources and support our funding diversification strategy.

The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

19

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e 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 notification of the interest paid or payable by the Bank.

20

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Office equipment

33%

21

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

k Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n 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 at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

o Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were £4,631 outstanding contributions at the year end.

22

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 12.

3 Income from donations and legacies

Current reporting period
Donated goods and services
Fundraising events
Gift Aid
Grants and corporate donations
Individuals
Total
Previous reporting period
Donated goods and services
Fundraising events
Gift Aid
Grants and corporate donations
Individuals
Total		 Unrestricted
£
-
144,386
895
331,893
13,082
490,256
Unrestricted
£
7,075
2,183
3,132
138,099
6,901
157,390		 Restricted
£
-
-
-
264,666
-
264,666
Restricted
£
-
-
-
594,979
-
594,979		 Total 2023
£
-
144,386
895
596,559
13,082
754,922
Total 2022
£
7,075
2,183
3,132
733,078
6,901
752,369

23

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

4 Income from charitable activities

Current reporting period
Alumni placement
College revenue
Employers' contribution
Total
Previous reporting period
Alumni placement
College revenue
Employers' contribution
Total
5
Investment income
Current reporting period
Income from bank deposits
Previous reporting period
Income from bank deposits		 Unrestricted
£
6,800
14,765
974,963
996,528
Unrestricted
£
8,800
26,730
746,236
781,766
Unrestricted
£
9,078
9,078
Unrestricted
£
352
352		 Restricted
£
-
-
-
-
Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-		 Total 2023
£
6,800
14,765
974,963
996,528
Total 2022
£
8,800
26,730
746,236
781,766
2023
£
9,078
9,078
2022
£
352
352

24

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

6
Cost of raising funds
Depreciation
Staff costs
Staging fundraising events
Other fundraising costs
All expenditure on cost of raising funds is unrestricted.
7
Analysis of expenditure on charitable activities
Current reporting period
Activities undertaken directly
Depreciation
Gifts in kind
Staff costs
Governance costs (see note 8)
Support costs (see note 8)
Restricted expenditure
Unrestricted expenditure		 2023
£
262
79,185
86,863
5,269
171,579
Total 2023
£
214,345
2,996
-
759,265
29,496
132,994
1,139,096
2023
£
508,365
630,731
1,139,096		 2022
£
408
63,874
512
2,756
67,550
Total 2022
£
195,211
4,387
7,075
690,079
16,795
124,981
1,038,528
2022
£
318,728
719,800
1,038,528

25

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

8 Analysis of governance and support costs

Current reporting period
Basis of
apportionment
Use of
resources
Administration
Use of
resources
Communications and IT
Use of
resources
Depreciation
Portion of
the asset's
use
Staff costs
Time spent
Sundry expenses
Use of
resources
Audit and professional fees
Governance
Other governance
Governance
Previous reporting period
Basis of
apportionment
Use of
resources
Administration
Use of
resources
Communications and IT
Use of
resources
Depreciation
Portion of
the asset's
use
Loss on disposal of asset
Portion of
the asset's
use
Staff costs
Time spent
Sundry expenses
Use of
resources
Audit and professional fees
Support
Other governance
Governance
Accommodation, sustenance
and travel
Accommodation, sustenance
and travel		 Support
£
871
2,562
5,478
487
123,381
215
-
-
132,994
Support
£
8,389
1,114
2,564
650
74
101,660
630
9,900
-
124,981		 Governance
£
-
-
-
-
-
-
9,900
19,596
29,496
Governance
£
-
-
-
-
-
-
-
-
16,795
16,795		 Total 2023
£
871
2,562
5,478
487
123,381
215
9,900
19,596
162,490
Total 2022
£
8,389
1,114
2,564
650
74
101,660
630
9,900
16,795
141,776

26

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

9 Net income/(expenditure) for the year

This is stated after charging/(crediting):
Depreciation
Loss/(profit) on disposal of fixed assets
Auditor's remuneration - audit fees
Auditor's remuneration - accountancy fees
Staff costs
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Allocated as follows:
Cost of raising funds
Charitable activities
Support costs		 2023
£
3,745
-
3,500
2,000
2023
£
850,751
86,003
25,077
961,831
79,185
759,265
123,381
961,831		 2022
£
6,966
74
9,900
-
2022
£
764,650
74,265
16,698
855,613
63,874
690,079
101,660
855,613

10 Staff costs

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£60,000 was:
2023 2022
No. No.
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 - -
In the band £80,001 - £90,000 - 1

The average number of staff employed during the period was 22 (2022: 20).

The key management personnel of the charity comprise the Senior Leadership Team (including the trustees and the Chief Executive Officer). The total employee benefits of the key management personnel of the charity were £318,309 (2022: £359,697).

27

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

11 Trustee remuneration and expenses, and related party transactions

No members of the management committee received any renumeration or reimbursed expenses during the year (2022: Nil).

No members of the management committee received travel and subsistence expenses during the year (2022: £Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

Under strict agreement and control by the Board, the Charity employs Catherine Gurner, married to Darren Gurner (Trustee). The relationship is reported on the Charity’s Register of Interests and managed under the Charity’s conflict of interest policy. The setting of the employee’s salary and position in the Charity is under the control of the Chief Executive Officer and the Board, and any changes must be approved by the Finance Committee (of which Darren Gurner is not a member). The Board consider the arrangement to be fair and in the best interest of the Charity. Catherine Gurner is the Head of Business Development as part of the Employment Team. Her salary is comparable to that of those with similar responsibilities who work within the Charity. Her salary does not fall above the benefits bandings, which require disclosure in note 10.

In 2022, the charity incurred costs of £4,800 for consultancy services provided by Caroline Adair (Sheridan), previous CEO and partner of David Pinchin (chair) after leaving LTSB (prior between July and October 2021).

No other trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year.

12 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

28

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

13 Fixed assets: tangible assets

Fixed assets: tangible assets
Cost
Additions
Depreciation
Charge for the year
Net book value
At 30 June 2022
At 30 June 2023
At 30 June 2023
At 1 July 2022
At 1 July 2022
At 30 June 2023		 Office
equipment
£
13,647
-
13,647
6,966
3,745
10,711
2,936
6,681		 £
13,647
-
Total
13,647
6,966
3,745
10,711
2,936
6,681

29

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

14
Debtors
Trade debtors
Other debtors
Prepayments and accrued income
15
Cash at bank and in hand
Cash at bank and on hand		 2023
£
38,110
-
559,512
597,622
2023
£
1,194,202
1,194,202		 2022
£
41,096
412
43,269
84,777
2022
£
1,452,184
1,452,184

16 Creditors: amounts falling due within one year

Trade creditors
Other creditors and accruals
Deferred income
Taxation and social security costs
Deferred income
Deferred income brought forward
Income received
Released to income from charitable activities
Deferred income carried forward		 2023
£
11,538
25,652
92,891
22,136
152,217
2023
£
296,328
92,891
(296,328)
92,891		 2022
£
25,272
25,212
296,328
4,140
350,952
2022
£
243,612
296,328
(243,612)
296,328

17 Deferred income

Deferral in line with contract terms, or grants with performance related conditions that had not been met by year end.

30

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

18 Analysis of movements in restricted funds

Anonymous (1)
Anonymous (2)
Anton Jurgens Trust
GJW Turner Trust
ICAP Charity Day
RSM Foundation
The Eveson Trust
Other
Total
Wellington
Management UK
Foundation
Santander UK
Foundation Limited
(2)
Macquarie Group
Foundation
Salesforce
Foundation
Santander UK
Foundation Limited
(1)
The Walcot
Foundation
Anne Duchess of
Westminster's Fund
Current reporting
period
The Pilkington
Charities Fund
Chartered
Accountants' Livery
Charity
East End Community
Foundation
Medicash
Essex Community
Foundation		 Balance at
1 July
2022
£
-
177,783
-
-
-
11,905
-
1,542
-
40,000
2,457
-
244,466
76,428
-
8,000
-
17,058
-
661
580,300
 Income
£
-
-
10,000
5,000
3,000
-
1,632
-
45,000
60,000
-
36,928
-
25,000
15,000
-
6,000
19,106
35,000
3,000
264,666		 Expenditure
£
(124,024)
(28,794)
(10,000)
(5,000)
(3,000)
(11,905)
-
(226)
(11,320)
(60,000)
-
-
(113,976)
(64,593)
-
(8,000)
(1,894)
(28,335)
(35,000)
(2,298)
(508,365)		 Transfers
£
147,476
(147,476)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at 30
June 2023
£
23,452
1,513
-
-
-
-
1,632
1,316
33,680
40,000
2,457
36,928
130,490
36,835
15,000
-
4,106
7,829
-
1,363
336,601

31

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

18 Analysis of movements in restricted funds (cont.)

Anonymous
GJW Turner Trust
Medicash
RSM Foundation
The Big Give
The Eveson Trust
Other
Total
Macquarie Group
Foundation
Salesforce
Foundation
Santander UK
Foundation Limited
Chartered
Accountants' Livery
Charity
East End Community
Foundation
Peter Cruddas
Foundation
The Pilkington
Charities Fund
The Walcot
Foundation
Wellington
Management UK
Foundation
Workers' Educational
Assoc. (ESF
Manchester)
Essex Community
Foundation
Previous reporting
period		 Balance at
1 July
2021
£
231,144
-
-
3,159
2,000
51,447
2,457
-
-
-
-
9,772
-
-
-
3,811
(582)
841
304,049


 Income
£
-
10,000
13,888
-
-
60,000
-
10,000
20,000
290,948
100,000
-
8,000
6,000
23,717
35,000
11,176
6,250
594,979		 Expenditure
£
(53,361)
(10,000)
(1,983)
(3,159)
(458)
(71,447)
-
(10,000)
(20,000)
(46,482)
(23,572)
(9,772)
-
(6,000)
(6,659)
(38,811)
(10,594)
(6,430)
(318,728)		 Transfers
£
-
-
-
-
-
-		 Balance at 30
June 2022
£
177,783
-
11,905
-
1,542
40,000
2,457
-
-
244,466
76,428
-
8,000
-
17,058
-
-
661
580,300

32

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

18 Analysis of movements in restricted funds (cont.)

Name of restricted fund Description, nature and purposes of the fund

Anonymous The training and development of young people. Anonymous (1) and (2) were the same grant. It was re-purposed with the approval from the funder, and information was kept separately to track the expenditure. Anne Duchess of Supporting the salary of a new CDM in Liverpool Westminster's Fund Anton Jurgens Trust Supporting our Business and Finance programme in Birmingham Chartered Supporting a young person through our Business and Finance programme in Accountants' Livery London Charity East End Community Supporting young people into meaningful employment in East London Foundation Essex Community Supporting young people into meaningful employment in Southend Foundation GJW Turner Trust Provision of IT for young people in Birmingham ICAP Charity Day The hire of a Safeguarding Officer Macquarie Group Supporting young people into enduring careers Foundation RSM Foundation Supporting young people into roles in the business and finance sectors Salesforce Enabling the pilot of two new professional pathways; legal and marketing Foundation Santander UK Supporting young people through our digital programmes Foundation Limited (1) Santander UK Help towards our response to the cost of living crisis Foundation Limited (2) The Eveson Trust Supporting young people into meaningful employment in Birmingham The Pilkington Supporting young people into meaningful employment in Liverpool Charities Fund The Walcot Supporting young people into meaningful employment in Lambeth Foundation Wellington Supporting our London Business and Finance programme Management UK Foundation Other Supporting young people to gain apprenticeships

33

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

19 Analysis of movement in unrestricted funds

HR Support
I.T Support
Recruitment
Bursary YP
Current reporting
period
General fund
Staffing
investment
General fund
Previous reporting
period
Designated fund
Office equipment
upgrading I.T
equipment for
staff
IT software
investment
Designated fund
2021 Contact
Centre contract		 Balance
at 1 July
2022
£
612,390
-
-
-
-
-
-
-
612,390
Balance
at 1 July
2021
£
265,042
195,190
460,232

-		 Income
£
1,495,862
-
-
-
-
-
-
-
1,495,862
Income
£
939,508
-
939,508		 Expenditure
£
(802,310)
-
-
-
-
-
-
-
(802,310)
Expenditure
£
(787,350)
-
(787,350)		 Transfers
£
(339,835)
18,176
7,387
18,620
11,993
31,897
20,000
231,762
-
Transfers
£
195,190
(195,190)
-		 As at 30 June
2023
£
966,107
18,176
7,387
18,620
11,993
31,897
20,000
231,762
1,305,942
As at 30 June
2022
£
612,390
-
612,390

Name of Description, nature and purposes of the fund unrestricted fund

General fund The free reserves after allowing for all designated funds

34

Leadership Through Sport and Business

Notes to the accounts for the year ended 30 June 2023 (continued)

20 Analysis of net assets between funds

Current reporting period
Tangible fixed assets
Net current assets/(liabilities)
Total
Previous reporting period
Tangible fixed assets
Net current assets/(liabilities)
Total		 General
fund
£
2,936
963,171
966,107
General
fund
£
6,681
605,709
612,390		 Designated
funds
£
-
339,835
339,835
Designated
funds
£
-
-
-		 Restricted
funds
£
-
336,601
336,601
Restricted
funds
£
-
580,300
580,300		 Total
£
2,936
1,639,607
1,642,543
Total
£
6,681
1,186,009
1,192,690

21 Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Loss/(profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating		 2023
£
449,853
3,745
-
(9,078)
(512,845)
(198,735)
(267,060)		 2022
£
427,431
6,966
74
(352)
78,761
79,658
592,538

35

Notes to the accounts for the year ended 30 June 2023 (continued)

Leadership Through Sport and Business

22 Prior year Statement of Financial Activities (including Income and Expenditure account)

Income from:
Donations and legacies
Charitable activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net income/(expenditure)
for the year
Net movement in funds
for the year		 Unrestricted
funds
£
157,390
781,766
352
939,508
67,550
719,800
787,350
152,158
152,158
460,232
612,390		 Restricted
funds
£
594,979
-
-
594,979
-
318,728
318,728
276,251
276,251
304,049
580,300		 Total funds
2022
£
752,369
781,766
352
1,534,487
67,550
1,038,528
1,106,078
428,409
428,409
764,281
1,192,690		 Total funds
2021
£
745,216
431,561
44
1,176,821
150,935
821,550
972,485
204,336
204,336
559,945
764,281

36