Trustees, Report
and Financial Statements
For year ended 30 June 2024
LTSB e
Contents
The Chair's Statement
Trustees, Report
Year in Review
Fundraising
Governance
Statement of Trustees, Responsibilities
Reference and Administrative Information
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Independent Auditor's Report on the Financial Statements
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to Financial Statements
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The Chair's
Statement
l am proud to present the LTSB Trustee5' Report. It covers a very busy period of both direct
delivery and infrastructure investment, as we ensure the charity has systems and structures for
the next ten yeaTS of growth and life-changing work.
The need for LTSB shows no sign of abating: in fact, conditions for social mobility in the UK seem
to be getting tougher. But our current five-year strategy expands the way we address this
problem. The Schools and Community programmes will help young people better articulate their
ability and ambition, and find careers with purpose. And after years of preparing young people
for work, our Employer programme will prepare work for young people
Using our privileged
access to hundreds of career journeys to help managers and social-mobility champions create
environments where everyone can thrive.
These new initiatives allow us to maintain the focussed, transformative work of our employment
programme. At its heart, social mobility is about securing long-term careers, with pay and
conditions that create the stability for home, holidays, hobbies
in short, happiness. We will
always remain committed to finding careers for those who need our help.
Two highlights from this year stand out. Despite the focus on employment outcomes, it's also
important to take stock of our longer-term impact, and the responses to our Alumni Survey have
been a source of real pride. As well as promotions and pay-rises, we've heard about houses,
marriages, children - it's a privilege to have played our part in those journeys. This im pact is why
so many of our alumni continue to stay in touch and want to give back, and with the creation of
our Alumni Committee and first full Alumni Trustee, Nabhan Moore, we have now formally
integrated our benef iciaries at every level of the charity. LTSB will be the stronger for it.
As always, I would like to take this opportunity to thank our Trustees, Patrons, employers,
funders, donors, and supporters for the hard work that enables LTSB to deliver their much-
needed social mobility programmes. But I would particularly like to recognise our staff.. your
commitment to our young people and our work is remarkable, and LTSB would not be where it is
today without your dedication and loyalty.
Jeff Hayes OBE,
Chair
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Trustees, Report
The Trustees present their Annual Report together with the audited financial statements of the
Charity for the period 1 July 2023 to 30 June 2024. 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 backg rounds
Preparing young people lor the workplace, and the workplace for young people
Placing Candidates in careers, stewarding 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, 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
throughout the f irst year of their careei.
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 pol ic ies for the year ahead.
Beneficiaries
The beneficiaries ol LTSB are young people between the ages of 16 and 24 from disadvantaged
backgrounds.
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Assessment of Public Benefit
At each Trustees, meeting, the Trustees review reports prepared by the Senior Leadership Team.
The reports cover programme impact and results, programme development, policy changes,
f und raising, f inancial performance, and organisational risks. Th is 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 ol England and Wales as the Trustees in their absolute discretion shall select from
time to time.
Year In Review
Our full Impact Report is at 1]ttR£t[0Y[LQ0M, but key reportables are as below.
Business
During this reporting period LTSB ran three Business cohorts in Birmingharn, Liverpool, and
London. Over ten weeks, 45 young people had exclusive access to corporate spaces like ICE,
Macquarie and BGF and were prepared and supported for roles in Finance and Operations.
89°A of young people completed the bootcamp,
to date, 08/0 of those were employed in companies like Kroll, Morrison & Foersler,
Rabobank, RSM and Tottenham Hotspur FC.
Average Salaiies were £18.2k in Birmingham, £19k in Liverpool, and £22.9k in London.
Business Bootcamp Feedback"
97%: '1 would recommend this bootcamp to other young people like me"
94%.. "1 feel more employable"
"The L TSB programme helped me maximise my skill set, gain invaluable advice and
make meaningful connections. I couldn't recommend it more to anyone who is youngi
passionate and eager to get their foot through the door. It's clear that everyone that
works here is passionate and enthusiastic about the work that they dolll
Megan
"Available responses Fange trom Strongly Agree to Strongly Disagree. Percentages here and
throughout reflect respondents who Strongly Agreed or Agreed with the slatement.
Contact Centre
During this reporting period we ran nine three-week Contact Centre bootcamps in Belfast {3),
Edinburgh (2), Greenock {1), Manchester (1), and Southend (2). 140 young people were on
programme, with 128 (917.) completing the bootcamp. These programmes run exclusively with
Natwest Group, who hired 92 (Belfast 25, Edinburgh 20, Greenock 10, Manchester 11,
Southend 26,) or 72% of those who completed. The salaries were £23,940 nationally.
Di9ltal And Customer Service
These are three-week, full-time bootcamps delivered virtually. 93 young people from
Birmingham, Edinburgh, London and Manchester made up our 2023 Digital and Customer
seNice cohort, with 95% completing. Of those who completed the bootcamp, 70Yo were placed
at like FCA, Kroll, Natwest Group and Omnicom at an average salary of £23,700.
Di9ital & Customer Service Bootcamp Feedback
100%.. "The support from the LTSB team has been important to my development"
100%: '1 would recommend this bootcamp to other young people like me"
Alumni Perspective
Before L TSB, I didn't know any women working in STEM - let alone anyone who could
offer me advice for getting into a professional career. L TSB played a critical role in
reaching me just when I was deciding to apply for apprenticeships. This opportunity
taught me the difference between having a job and being able to have a career."
Desire
Law and Marketing
In 2023, the Law programme ran in Birmingham, London and Manchester, with 15 participants.
So far, OO°A have been placed at cofflpanies including Addleshaw Goddard, No5 Barristers,
Chambers, Home Office and Morrison & Foerster on an average salary of £20.7k.
15 young people also joined the Marketing programme in London. To date, 40/. are employed
at companies including SRG, Google and Post Office on an average salary of £24.4k.
Law and Marketing Bootcamp Feedback
100%: "I would recommend this bootcamp to other young people like me"
97Y.: "The support from the LTSB team has been important to my development"
I recommend the L TSB programme as it not only proposed a range of opportunities for
me but also allowed me to find myself. I struggled with the idea of not knowing what to
do next, L TSB gave me that reassurance and helping hand showing me that l am not
truly alone. l am forever grateful for this opportunity and experience.
Jamila
Volunteers
Volunteers ITOM the following organisations provided us with 308 hours of their time for mock
interviews across all our programmes: Addleshaw Goddard, AJ Gallagher, Alvarez & Marsal,
Azets, BDO, BGF, BKL, Boyden, BPP, Bravura, Capco, Charles Taylor, Crowe, Danos
Groupi Duco, Fladgate, Freshfields, Hays, Heidrick & Struggles, ICAP, Indemnity Legal,
lon Group, Kroll, Macquarie Group, Mason Frank, Metro Alliance, Michael Page, Miles
Smith, Metro Alliance, Moore Barlow, Morgan McKinley, MX UndeThvriting, Natwest
Groupi Omnicom, Pearson, Peter Macdonald Recruitment, Pwc, RSA, RSM, Salesforce,
Santander, Specialist Risk Group, Strathberry, Thrive Tech, Vantage Point, Volunteering
Matters and Weightmans.
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Our core programmes were delivered in 20 corporate spaces, with facilities and over 70 hours of
in-person volunteering from ACAST, BDO, BGF, BPP, Brabners, Bravura, Google, Haines
Watts, Hays, Heidrick & Struggles, ICE, No 5 Barristers, Chambers, Macquarie Group,
Mason Frank, Morgan McKinley, Liverpool FC Foundation, Post Office, Specialist Risk
Groupi RSM and Unicourse. A further 11 organisations contributed online to our law
programme, providing 22 hours of career insights.. Addleshaw Goddard, Career Legal, CILEX,
EY, Fladgate, Freshfields, Harbottle & Lewis, Indemnity Le9al, Moore Barlow, Squire Paton
Boggs and Weightmans.
Senior Staff Changes
CEO Rob Burton resi9ned in October 2024. Pete Ward will serve as Interim CEO until a
successor is appointed.
Strategy Implementation
This reportin9 year is the first of our five-year strategy (bttpLItillyL0o). We have
seen the following progress in our three Strategic Goals..
Ensure more young people are placed into meaningful careers and complete the first year
of employment.
This requires testing and measuring of potential new sectors. On one hand, we are starting
an Insurance boot¢amp in the north-west for the 24-25 period, responding to industry
growth and interest. On the other, we are suspending our Marketing programme, where
entry-level roles are signif icantly impacted by mach ine-learning tools
resulting in fewer
young people being employed, and most being placed in non-marketing roles. Our plans for
growth are chiefly within the charity's existing geographic footprint (London, North West
and the Midlands, where we have existing staff networks located) but with significant
growing interest and networks in Glasgow, we will also run core employment programmes
there from 2025.
Increase financial resilience through diversified provision.
We have made significant progress with our Schools programme, and have confirmed a pilot
to be run with over 180 Year Ten pupils from Saracens Academy in January - March 2025.
We have also created four new roles - one at the Director level dedicated to developing
alternative income streams.
Create a culture of high standards, well-being and belonging.
A core element of our strategy is substantial investment in our people and organisational
structure. Our newly established HR/Operations function reinforces our internal capacity,
equipping us to meet our obligations as a responsive, resilient employer and to support our
team effectively in delivering on our mission. We are developing delivery staff by assessing
them against a new excellence framework and recognising and rewarding high standards by
investing in professional development and celebrating success.
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Fundraising
We are grateful to our funders, donors, and volunteers, without whom LTSB'S work would not be
possible. We generate lunds through a range of income streams. Business development and
f und raising activity is supported by a range of colleagues within the charity as wel l as Trustees.
We take our fundraising Tesponsibility 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 lundraising practice, but our Finance and Risk Committee are the nominated body
to handle complaints should they arise.
Fundraising Activities
On 11th May 2024, LTSB took part in a National Three Peaks Challenge event. The target was to
raise £20,000 and the final result, after event fees, was £25,353. All income and expenditure
was incurred during the year. The event was promoted through our website and social media
channels. No professional fundraisers were used for this event.
Neither LTSB nor any person acting on behalf of the charity was subject to an undertaking to be
bound by any voluntary scheme lor regulating fundraising, or voluntary standard for fundraising
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 learning, 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 making.
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 rights. The trustees have no benef icial 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, one trustee, Juliet Thompson, has resigned. We are grateful for all her
support. Four new trustees have been appointed: Victoria Kirkhope, Bharat Mehta, Nabhan
Nassor Moore-Bastien and Ruth Poulten. All new Trustees have an induction to ensure their
understanding ol 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.
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The Board of Trustees meet formally lour times a year and have ultimate responsibility for
ensuring that..
LTSB complies with statutory and regulatory requirements,
the strategic d irection is in l ine 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 ITaud, bribery and
corruption. Where appropriate, Trustees may take independent professional advice at no
personal expense. LTSB has Trustees, Liability insurance in place wh ich 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 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 the CEO, in consultation with
the Chair, and submitted to the Board for approval.
Financial Review
Total incoming resources for the year were £1 ,265,054 (2023.. £1,760,528) and total outgoing
Tesources £1,255,931 (2023: £1,310,675), producing a surplus 01 £9,123 (2023.. £449,853).
At the year end, the charity had unrestricted (free) reserves of £848,503 (2023.. £963,171), fixed
asset5 of £384 (2023.. £2,936) and designated reserves of £062,840 (2023.. £339,835). This
resulted in total unrestricted reserves of £1,511,727 (2023.. £1,305,942).
Restricted reserves were £139,939 (2023: £336,601), giving total net reserves of £1,651,666
(2023: £1,642,543).
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 2024 to meet this
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.
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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 Register
continually reviews, monitors, takes action and documents risks facing the Charity
brings any serious potential high risk to the attention of the Board as soon as it is known
issues up-to-date Risk Register to the board annually, as well as any action taken or planned.
Principal Risks & Mitigations
We have identified two key risks to LTSB:
Finance
The principal risk to the charity is the proportion of income from a major corporate partner. While
there is strong chance of renewed contract for 2026, there has been a reduction of demand and
income from this for 2025, and further loss of this income would reduce our ability to maintain
current levels of impact. Our long-term strategy has funding diversification as a main aim, with
add itional programmes which will generate funds from a range of sources, including institutional
and individual donors, events, corporates and commissioned income from contracts. To support
this goal, we have created four new roles - one at the Director level dedicated to developing
alternative income streams. We have good liquidity and strong reserves, including a healthy
cash balance, allowing us suff icient time and resource to address any significant changes to the
organisation. The Financial Sustainability Designated Fund is part ol our risk mitigation strategy.
Economic Landscape
The UK'S shifting political and economic environment presents Complex risks to both our mission
and responsibilities as an employer. Changes in government priorities, economic instabil ity and
new employment regulations may impact young people's opportunities and are increasing
operational Costs
directly affecting the disadvantaged young people we support. OUT
programme diversification means we are no longer wholly reliant on employers and employment
for growth and impact, with a schools programme that addresses fundamental inequalities that
impact social mobility. This also preserves our ability to work in a locussed way on our core
programmes: small numbers, transformative impact, which is less vulnerable to economic
circumstances than a very large employment scheme. Finally, our newly established
HR/Operations function reinforces our internal capacity, equipping us to meet our obligations
as a responsive, resilient employer and to support our team effectively.
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.
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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, lor that
period. I n preparing these f inancial statements, the Trustees are requ ired 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 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 the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and d issemination of f inancial statements may differ from legislation
in other jurisdictions. The Trustees are responsible for keeping adeq uate accounting records that
are sufficient to Show and explain the Charity's transactions and disclose with reasonable
accuTa¢y 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 ol the Charity and hence for taking reasonable steps for the prevention
and detection ol 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 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 information.
Auditors
Slade & Cooper Ltd were reappointed 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
26 March 2025
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REFERENCE AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
Company number: 08033634
Charity number:
1147616 (England And Wales)
SC052928 (Scotland)
Registered office..
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:
Jeffrey Hayes, Chair
Lorraine Barclay
Gary Duggan
Darren Gurner
Victoria Kirkhope (appointed 12 June 2024)
Bharat Mehta (appointed 12 June 2024)
Nabhan Nassor Moore-Bastien (appointed 19 September 2024)
Ruth Poulten (appointed 12 June 2024)
Juliet Thompson (resigned 12 June 2024)
Patrick Thornton-smith
Wincie Wong
Rob Burton (resigned 18 October 2024), Shamaine Armstrong, Deborah
Barlow, Nic Skipwith, Steph Stevens and Pete Ward (Interim CEO)
Key management
personnel
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 OJG
## **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 2024, 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:
- give a true and fair view of the state of the charitable company’s affairs as at 30 June 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
## **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.
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## **Independent Auditor’s Report (continued)**
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees’ report has been prepared in accordance with applicable legal requirements.
## **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 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Trustees’ Annual Report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 10, 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.
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## **Independent Auditor’s Report (continued)**
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
- enquiry of management and those charged with governance around actual and potential litigation and claims.
- enquiry of the charity's staff, management and those charged with governance to identify any instances of non-compliance with laws and regulations.
- reviewing minutes of meetings of those charged with governance.
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
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/auditorsresponsibilities. This description forms part of our auditor’s report.
14
## **Independent Auditor’s Report (continued)**
## **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 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. 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 27 March 2025
Slade & Cooper Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
15
## Leadership Through Sport and Business
## Statement of Financial Activities (including Income and Expenditure account)
for the year ended 30 June 2024
|Unrestricted
funds
Note
£
**Income from:**
Donations and legacies
3
264,694
Charitable activities
4
735,225
Investments
5
39,552
**Total income**
**1,039,471**
**Expenditure on:**
Raising funds
6
69,925
Charitable activities
7
763,761
**Total expenditure**
**833,686**
205,785
9
**205,785**
Transfer between funds
-
**Net movement in funds for the year**
**205,785**
**Reconciliation of funds**
Total funds brought forward
1,305,942
**Total funds carried forward**
**1,511,727**
**Net income/(expenditure) before**
**net gains/(losses) on**
**investments**
**Net income/(expenditure) for the**
**year**|Restricted
funds
£
225,583
-
-
**225,583**
-
422,245
**422,245**
(196,662)
**(196,662)**
-
**(196,662)**
336,601
**139,939**|Total funds
2024
£
490,277
735,225
39,552
**1,265,054**
69,925
1,186,006
**1,255,931**
9,123
**9,123**
-
**9,123**
1,642,543
**1,651,666**|_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_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
A full comparative SOFA is available on the last page of the financial statements.
16
## Leadership Through Sport and Business Company number 08033634
Balance sheet as at 30 June 2024
|Note
£
£
**Fixed assets**
Tangible assets
13
384
**Total fixed assets**
**384**
**Current assets**
Investments
14
1,214,916
Debtors
15
316,241
Cash at bank and in hand
16
203,219
**Total current assets**
**1,734,376**
**Liabilities**
Creditors: amounts falling
due in less than one year
17
(83,094)
**Net current assets**
**1,651,282**
**Total assets less current liabilities**
1,651,666
**Net assets**
**1,651,666**
**The funds of the charity:**
Restricted income funds
19
139,939
Unrestricted income funds
General fund
20
848,887
Designated income funds
20
662,840
**Total charity funds**
**1,651,666**
2024|_£_
_£_
_2,936_
**_2,936_**
_-_
_597,622_
_1,194,202_
**_1,791,824_**
_(152,217)_
**_1,639,607_**
_1,642,543_
**_1,642,543_**
_336,601_
_966,107_
_339,835_
**_1,642,543_**
_2023_|_£_
_£_
_2,936_
**_2,936_**
_-_
_597,622_
_1,194,202_
**_1,791,824_**
_(152,217)_
**_1,639,607_**
_1,642,543_
**_1,642,543_**
_336,601_
_966,107_
_339,835_
**_1,642,543_**
_2023_|
|---|---|---|
|||**_2,936_**
**_1,639,607_**|
|||_1,642,543_|
|||**_1,642,543_**|
|||_336,601_
_966,107_
_339,835_|
|||**_1,642,543_**|
The notes on pages 19 to 38 form part of these accounts.
Approved by the trustees on 26/03/2025 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 2024
|Note
**Cash provided by/(used in) operating activities**
22
_Cash flows from investing activities:_
Dividends, interest, and rents from investments
Purchase of investments
**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|2024
£
**184,381**
34,636
(1,210,000)
**(1,175,364)**
(990,983)
1,194,202
**203,219**|_2023_
_£_
**_(267,060)_**|
|---|---|---|
|||_9,078_
_-_|
|||**_9,078_**|
|||_(257,982)_
_1,452,184_|
|||**_1,194,202_**|
18
Leadership Through Sport and Business
Notes to the accounts for the year ended 30 June 2024
## **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 2024 (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 2024 (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:
- Costs of raising funds include all expenditures incurred by the Charity to raise funds for its charitable purposes and include costs of all fundraising events and non-charitable trading.
- Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
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 2024 (continued)
## **k Current asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. They are instant access deposits or bank deposits with a maturity of greater than 3 months but less than 12 months.
## **l 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.
## **m 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.
## **n 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.
## **o 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.
## **p 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 £5,195 (2023: £4,631) outstanding contributions at the year end.
22
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (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. The charity is also a registered charity in England and Wales (1147616) and Scotland (SC052928). 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 11.
## **3 Income from donations and legacies**
|**Current reporting period**
Fundraising events
Gift Aid
Grants and corporate donations
Individuals
Other
**Total**
**Previous reporting period**
Fundraising events
Gift Aid
Grants and corporate donations
Individuals
**Total**|Unrestricted
£
27,344
439
232,897
3,014
1,000
264,694
Unrestricted
£
144,386
895
331,893
13,082
490,256|Restricted
£
-
-
225,583
-
-
225,583
Restricted
£
-
-
264,666
-
264,666|Total 2024
£
27,344
439
458,480
3,014
1,000|
|---|---|---|---|
||||490,277|
||||Total 2023
£
144,386
895
596,559
13,082|
||||754,922|
23
## Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **4 Income from charitable activities**
|**Current reporting period**
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
£
735,225
735,225
Unrestricted
£
6,800
14,765
974,963
996,528
Unrestricted
£
39,552
39,552
Unrestricted
£
9,078
9,078|Restricted
£
-
-
Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-|Total 2024
£
735,225|
|---|---|---|---|
||||735,225|
||||Total 2023
£
6,800
14,765
974,963|
||||996,528|
||||2024
£
39,552|
||||39,552|
||||2023
£
9,078|
||||9,078|
24
## Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **6 Cost of raising funds**
|Depreciation
Staff costs
Staging fundraising events
Other fundraising costs
All expenditure on cost of raising funds is unrestricted.
**Analysis of expenditure on charitable activities**
Activities undertaken directly
Depreciation
Staff costs
Governance costs (see note 8)
Support costs (see note 8)
Restricted expenditure
Unrestricted expenditure|2024
£
153
61,387
-
8,385
69,925
Total 2024
£
177,741
2,118
849,187
31,287
125,673
1,186,006
2024
£
422,245
763,761
1,186,006|_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|
- **7 Analysis of expenditure on charitable activities**
25
## Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (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
Staff costs
Time spent
Sundry expenses
Use of
resources
Audit and professional fees
Governance
Other governance
Governance
Accommodation, sustenance and
travel
Accommodation, sustenance and
travel|Support
£
2,658
7,759
1,743
281
112,543
689
-
-
125,673
Support
£
871
2,562
5,478
487
123,381
215
-
-
132,994|Governance
£
-
-
-
-
-
-
4,950
26,337
31,287
Governance
£
-
-
-
-
-
-
9,900
19,596
29,496|_Total 2024_
£
2,658
7,759
1,743
281
112,543
689
4,950
26,337|
|---|---|---|---|
||||156,960|
||||_Total 2023_
£
871
2,562
5,478
487
123,381
215
9,900
19,596|
||||162,490|
26
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **9 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):
Depreciation
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|2024
£
2,552
3,500
2,000
2024
£
907,764
89,156
26,197
1,023,117
61,387
849,187
112,543
1,023,117|_2023_
_£_
3,745
3,500
2,000|
|---|---|---|
|||_2023_
_£_
_850,751_
_86,003_
_25,077_|
|||_961,831_|
|||_79,185_
_759,265_
_123,381_|
|||_961,831_|
## **10 Staff costs**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|£60,000 was:||||||
|---|---|---|---|---|---|
|||2024||_2023_||
|||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 23 (2023: 22).
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 £303,491 (2023: £318,309).
27
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **11 Trustee remuneration and expenses, and related party transactions**
No members of the management committee received any remumeration or reimbursed expenses during the year (2023: Nil).
Two members of the management committee (2023: no) received travel and subsistence expenses during the year of £250 (2023: £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.
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 2024 (continued)
## **13 Fixed assets: tangible assets**
|**Fixed assets: tangible assets**|||
|---|---|---|
|**Cost**
Additions
Disposals
**Depreciation**
Charge for the year
Disposals
**Net book value**
At 30 June 2024
At 30 June 2024
At 30 June 2024
At 1 July 2023
At 1 July 2023
_At 30 June 2023_|Office
equipment
£
13,068
-
(8,363)
4,705
10,132
2,552
(8,363)
4,321
384
_2,936_|£
13,068
-
(8,363)
Total|
|||4,705|
|||10,132
2,552
(8,363)|
|||4,321|
|||384|
|||_2,936_|
29
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **14 Investments**
|Additions to investments at cost
Interest income
Management fees
Withdrawals from investments at cost
Investments at fair value comprised:
Bank deposits
Market value at the end of the year
Market value at the start of the year|2024
£
-
1,210,000
7,290
(1,239)
(1,135)
1,214,916
1,214,916
1,214,916|_2023_
_£_
_-_
_-_
_-_
_-_
_-_|
|---|---|---|
|||_-_|
|||_-_|
|||_-_|
All current asset investments are Basic Financial Instruments. They are instant access deposits or bank deposits with a maturity of greater than 3 months but less than 12 months.
## **15 Debtors**
|**15**
**Debtors**|||
|---|---|---|
|Trade debtors
Prepayments and accrued income
**16**
**Cash at bank and in hand**
Cash at bank and on hand|2024
£
198,500
117,741
316,241
2024
£
203,219
203,219|_2023_
_£_
_38,110_
_559,512_|
|||_597,622_|
|||_2023_
_£_
_1,194,202_|
|||_1,194,202_|
30
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **17 Creditors: amounts falling due within one year**
|Trade creditors
Short term compensated absences (holiday pay)
Other creditors and accruals
Deferred income
Taxation and social security costs
**18**
**Deferred income**
Deferred income brought forward
Income received
Released to income from charitable activities
Deferred income carried forward|2024
£
5,496
15,629
32,255
-
29,714
83,094
2024
£
92,891
-
(92,891)
-|_2023_
_£_
_11,538_
_-_
_25,652_
_92,891_
_22,136_|
|---|---|---|
|||_152,217_|
|||_2023_
_£_
_296,328_
_92,891_
_(296,328)_|
|||_92,891_|
Deferral in line with contract terms, or grants with performance related conditions that had not been met by year end.
31
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **19 Analysis of movements in restricted funds**
|Balance at
1 July 2023
£
**Material grants over £25k**
ICAP Charity Day
33,680
40,000
RSM Foundation
36,928
130,490
36,835
-
**Grouped funds**
38,532
-
15,000
Other
5,136
Total
336,601
Employment
Service Delivery
Cost of Living
Wellington
Management
**Current reporting**
**period**
Macquarie Group
Salesforce
Foundation
Santander UK
Foundation Limited
(1)|Income
£
-
60,000
50,000
-
25,000
35,000
25,583
30,000
-
-
225,583|Expenditure
£
(28,144)
(60,000)
(86,928)
(89,465)
(35,809)
(35,000)
(54,421)
(13,333)
(15,000)
(4,145)
(422,245)|Transfers
£
-
-
-
-
-
-
-
-
-
-
-|Balance at 30
June 2024
£
5,536
40,000
-
41,025
26,026
-
9,694
16,667
-
991|
|---|---|---|---|---|
|||||139,939|
32
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **19 Analysis of movements in restricted funds (cont.)**
## **Previous reporting**
|Balance at
1 July 2022
£
**Material grants over £25k**
Anonymous (1)
-
Anonymous (2)
177,783
ICAP Charity Day
-
40,000
RSM Foundation
-
244,466
76,428
-
**Grouped funds**
36,963
-
-
Other
4,660
Total
580,300
Cost of Living
Santander UK
Foundation Limited
(1)
Employment
Salesforce
Foundation
Wellington
Management UK
Foundation
Service Delivery
Macquarie Group
Foundation
**period**|Income
£
-
-
45,000
60,000
36,928
-
25,000
35,000
34,738
10,000
15,000
3,000
264,666|Expenditure
£
(124,024)
(28,794)
(11,320)
(60,000)
-
(113,976)
(64,593)
(35,000)
(58,134)
(10,000)
-
(2,524)
(508,365)|Transfers
£
147,476
(147,476)
-
-
-
-
-
-
-
-
-
-
-|Balance at 30
June 2023
£
23,452
1,513
33,680
40,000
36,928
130,490
36,835
-
13,567
-
15,000
5,136|
|---|---|---|---|---|
|||||336,601|
33
Leadership Through Sport and Business
Notes to the accounts for the year ended 30 June 2024 (continued)
## **19 Analysis of movements in restricted funds (cont.)**
## **Name of restricted fund Description, nature and purposes of the fund**
## **Material grants over £25k**
Anonymous The training and development of young people. Anonymous (1) and (2) were the same grant. It was re-purposed in 2022/23 with the approval from the funder, and information was kept separately to track the expenditure. 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) Wellington Supporting our London Business and Finance programme Management UK Foundation **Grouped funds** Employment Supporting young people into meaningful employment Service Delivery Supporting service delivery staff salaries Cost of Living Help towards our response to the cost of living crisis Other Smaller grants to support our charitable activities
34
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **20 Analysis of movement in unrestricted funds**
|Balance at
1 July 2023
£
966,107
HR Support
18,176
I.T Support
7,387
18,620
11,993
Recruitment
31,897
Bursary YP
20,000
231,762
-
1,305,942
Financial
sustainability fund
- to help mitigate
financial risks
from reliance on a
major corporate
partner
**Current reporting**
**period**
Staffing
investment
General fund
Designated fund
Office equipment -
upgrading I.T
equipment for
staff
IT software
investment|Income
£
1,039,471
-
-
-
-
-
-
-
-
1,039,471|Expenditure
£
(604,465)
(7,270)
(7,387)
(11,119)
(6,869)
(23,545)
(3,552)
(169,479)
-
(833,686)|Transfers
£
(552,226)
-
-
-
-
-
(6,448)
258,674
300,000
-|As at 30 June
2024
£
848,887
10,906
-
7,501
5,124
8,352
10,000
320,957
300,000|
|---|---|---|---|---|
|||||1,511,727|
35
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **20 Analysis of movement in unrestricted funds (cont.)**
|Designated fund
HR Support
General fund
I.T Support
Office equipment -
upgrading I.T
equipment for
staff
IT software
investment
Recruitment
Bursary YP
Staffing
investment
**Previous reporting**
**period**|Balance at
1 July 2022
£
612,390
-
-
-
-
-
-
-
612,390
|Income
£
1,495,862
-
-
-
-
-
-
-
1,495,862|Expenditure
£
(802,310)
-
-
-
-
-
-
-
(802,310)|Transfers
£
(339,835)
18,176
7,387
18,620
11,993
31,897
20,000
231,762
-|As at 30 June
2023
£
966,107
18,176
7,387
18,620
11,993
31,897
20,000
231,762|
|---|---|---|---|---|---|
||||||1,305,942|
## **Name of Description, nature and purposes of the fund unrestricted fund**
General fund The free reserves after allowing for all designated funds
36
Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **21 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
£
384
848,503
848,887
General
fund
£
2,936
963,171
966,107|Designated
funds
£
-
662,840
662,840
Designated
funds
£
-
339,835
339,835|Restricted
funds
£
-
139,939
139,939
Restricted
funds
£
-
336,601
336,601|Total
£
384
1,651,282|
|---|---|---|---|---|
|||||1,651,666|
|||||Total
£
2,936
1,639,607|
|||||1,642,543|
## **22 Reconciliation of net movement in funds to net cash flow from operating activities**
|**Net income/(expenditure) for the year**
**Adjustments for:**
Depreciation charge
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating**|2024
£
9,123
2,552
(39,552)
281,381
(69,123)
184,381|_2023_
_£_
_449,853_
_3,745_
_(9,078)_
_(512,845)_
_(198,735)_|
|---|---|---|
|||_(267,060)_|
37
## Leadership Through Sport and Business
## Notes to the accounts for the year ended 30 June 2024 (continued)
## **23 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**
Transfer between funds
**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
£
490,256
996,528
9,078
**1,495,862**
171,579
630,731
**802,310**
**693,552**
-
**693,552**
612,390
**1,305,942**|Restricted
funds
£
264,666
-
-
**264,666**
-
508,365
**508,365**
**(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**
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_**
_764,281_|
|||||**_1,192,690_**|
38