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2020-07-31-accounts

Unaudited Financial Statements

For the year ended 31 July 2020

Diane Modahl Sports Foundation (A company limited by guarantee)

Company Registration No. 07211650 Registered Charity No. 1150767

Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

CONTENTS CONTENTS
Reference and administrative information 2
3
7
Statement of financial activities 9
Balance sheet 10
Cash flow statement 11
Notes to the financial statements 12

1

Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

REFERENCE AND ADMINISTRATIVE INFORMATION

FOUNDER AND CHIEF EXECUTIVE OFFICER

Diane Modahl

TRUSTEES WHO ARE ALSO THE DIRECTORS IN COMPANY LAW

Abid Hussain (appointed 17 December 2020) Clare Lisa Morton (appointed 17 December 2020) Jack Murphy (appointed 17 December 2020) Charlene Lancaster John Russell Aaron Saxon Steven Worthington Marc Yaffe

COMPANY REGISTRATION NUMBER

07211650

CHARITY REGISTERED NUMBER

1150767

REGISTERED OFFICE

Diane Modahl Sports Foundation Etihad Campus The National Squash & Regional Arena Rowsley Street Manchester M11 3FF

CHAIRMAN

John Russell

INDEPENDENT EXAMINER

Nii Otu Quaye FCCA FFA FCPA 11 Louvaine Close Manchester M18 8SJ

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

The Trustees, who are also directors of the company, present their annual report incorporating the 31 July 2020.

Structure Governance and Management

The charity is a company limited by guarantee and is governed by its Articles of Association which were last amended on 28 September 2012. The Trustees and management are aware of the rules and practices set out by the Charity Commission of England and Wales and always endeavour to act in accordance with the letter and spirit of those regulations and statements of practice.

Whilst the Trustees are legally responsible for the overall management and control of the Foundation, the day to day management of the Foundation is delegated to our Chief Executive Diane Modahl with her team of staff and our volunteers. There has been regular contact and support from the board and the Chairman.

The skills and needs of the Board of Trustees are continually reviewed and missing Board skills will be filled by appropriate recruitment.

The Trustees, who are also directors in company law, who acted in the financial year are listed on page 2. For convenience in the report, reference to trustees includes their roles as directors.

Objectives and Activities

Our Articles of Association state that our objectives are:

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

L REPORT (continued)

The Diane Modahl Sports Foundation ( DMSF ), is a public benefit charitable organisation that specialises in elevating sport as a catalyst for change, delivering exceptional impact across Greater Manchester within the top 20% areas of deprivation. The Foundation was co-founded by Diane Modahl MBE, four-time Olympian and a Commonwealth Games gold medallist, to champion young people from disadvantaged areas and help empower them in all areas of life.

It helps young people to develop ways of focused thinking, develop self-belief, self-assurance, social integration and promote aspiration. DMSF believes that through developing these qualities in young people, there will also be a development in focus and commitment, which will lead to a Driven by their values of acting with integrity, providing opportunities and instilling resilience, they have a passionate team of coaches and mentors who deliver programmes for young people that tap into five main areas of development:

young people and make it a choice. For more information visit www.dmsf.org.uk.

Policy on reserves

T approximately equal to three months of payroll and other committed costs, equating to £30,000. The level of reserves required to meet this policy will be reassessed as the charity grows and staff costs increase

Financial Review

As at 31 July 2020 the charity had unrestricted funds of £63,390 (2019: £77,628) represented by unrestricted cash reserves of £65,309. As a result of the COVID-19 pandemic and resultant UK wide lock down, between March 2020 and July 2020 the level of charitable activity was severely restricted. The charity made use of the government Coronavirus Job Retention Scheme and furloughed the majority of colleagues during this period. The period since March 2020 has been a testing time financially, as we rely on continued support from our donors, during this period and post year end, the charity has been successful in securing vital COVID-19 emergency support funding, both to allow the charity to continue to provide vital services to young people, in line with government guidance and to protect the liquidity of the charity.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

These accompanying financial statements have been prepared on a going concern basis. The directors have looked at least 12 months from the date of signing these financial statements and the ctives will be dependent upon the support of donors.

At the date of this report there are uncertainties in the UK economy as a result of the global COVIDcharity receives donations from a diverse range of companies, individuals and organisations, and therefore does not consider the impact of COVID-19 to pose a significant threat to the continuing existence of the charity.

Achievements and Performance

In 2019 we worked with 909 young people across 21 programmes. We provided 201 leadership opportunities, 10 work experience placements and employed the services of 5 young people as Community Coaches who have come through the DMSF programme.

We upskilled 15 DMSF Young Leaders from across several wards to come together and influence the development of our programmes. The DMSF Young Advisory Group reflects the diversity of our beneficiaries which provides valuable insight into their communities and through the establishment of this Group, young people have been intrinsic in the design and running of activities, sessions and events and have enabled our work to adapt quickly to the needs of our young people, with particular emphasis on mental health and well-being.

Over the period of restricted movement, we have seen an extreme dip in the mental health and wellbeing of young people involved in the DMSF programmes. Very quickly we were able to identify the support required to those in the most critical need regarding their nutritional health. To this end we worked hard with our partners and the local community to coordinate our efforts and support. KIND, makers of nutritious snacks were able to deliver over 1,000 free bars to the young people on DMSF program personally deliver goods to 16 families, 13 of which were identified as most in need. Furthermore, DMSF is now registered as a referral organisation at Manchester Central Foodbank (MCF) enabling the Foundation to make referrals on behalf of our young people.

We have a database of over 680 active participants aged between 7-25 years and an array of high profile ambassadors to enable a strong foundation of support through various means, and our volunteers have logged over 90 hours of commitment to the Foundation.

In the Summer of 2019 DMSF held its inaugural Summer Camp over 5 weeks in July and August in partnership with our flagship school Cedar Mount Academy and it was a resounding success with over 111 young people registered, a total of 791 attendances, 1,965 free meals provided, 70% repeat attendances and 125 coaching hours delivered.

Our response to COVID-19 has attempted to adapt to the immediate and specific needs of all our young people. We work with vulnerable, at-risk children who are coping with family breakdown, chaotic living environments and mental health problems which all affect their ability to develop healthy relationships, social skills and engage with education.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

Our specific response during this unprecedented global pandemic has been to establish a plan that enables a reduced workforce to continue to put the mental health and well-being of our young people at the heart of our delivery during this critical time.

Doing everything within our control to ensure the longevity of the organisation, we have made the very difficult decision to furlough 3, on occasion up to 4 members of our core team and take advantage of the Coronavirus Job Retention Scheme. As lockdown was eased and our sessions resumed, we were able to reintroduce our team back into our programmes.

In the early phases of the pandemic the CEO had bi-weekly meetings with the board, as required, to ensure the financial viability of the organisation and identify priorities.

Very quickly we were also able to identify the support required to those in the most critical need regarding their nutritional health. To this end we worked hard with our partners and the local community to coordinate our efforts and support. KIND, makers of nutritious snacks were able to deliver over 7,000 free bars to the young people on DMS largest supplier of dried foods were able to personally deliver goods to 16 families, 13 of which were identified as most in need.

These actions have enabled the team, despite the challenges our young people face at this time, to remotely provide ongoing support as best as we can.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Trustees on 23 April 2021 and signed on their behalf by

John Russell Chair of Trustees

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

SPORTS FOUNDATION

I report on the financial statements of the charity for the year ended 31 July 2020, which are set out on pages 9 to 16.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

examine the financial statements under section 145 of the 2011 Act;

follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

state whether particular matters have come to my attention.

This report, including my s pose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity have made.

Basis of independent e

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

SPORTS FOUNDATION (continued)

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Nii Otu Quaye FCCA FFA FCPA 11 Louvaine Close Manchester M18 8SJ Date: 23 April 2021

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account)

For the year ended 31 July 2020

Notes
Income
Donations
2
Grant income
2
Total income
Expenditure
Charitable activities
3
Raising funds
3
Total expenditure
Net income
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2020
Restricted
funds
2020
Total funds
2020
Total funds
2019
£
£
£
£
204,220
-
204,220
200,689
30,317
103,991
134,308
63,925
234,537
103,991
338,528
264,613
169,953
80,220
250,173
242,237
78,822
-
78,822
**43,632 **
248,775
80,220
328,995
285,869
(14,238)
23,771
9,533
(21,256)
77,628
24,689
102,317
123,573
63,390
48,460
111,850
102,317

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 12 to 16 form part of these financial statements.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

Balance Sheet

AS AT 31 JULY 2020

Notes
ixed assets
angible assets
5
urrent assets
ebtors
6
ash at bank & in hand
reditors: amounts falling
ue within one year
7
et current assets
et assets
unds
nrestricted funds
8
estricted funds
8
otal funds		 2020
£
£
1,081
1,081
6,687
113,969
120,656
9,887
110,769
111,850
63,390
48,460
111,850		 2019
£
£
907
907
13,642
103,035
116,677
15,267
101,410
102,317
77,628
24,689
102,317		 2019
£
£
907
907
13,642
103,035
116,677
15,267
101,410
102,317
77,628
24,689
102,317
907
101,410
102,317
77,628
24,689
102,317

The notes on pages 12 to 16 form part of these financial statements.

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors of the company (and charitable trustees) acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 July 2020 and of its net incoming resources for the financial year, in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2021.

John Russell

Chair of Board of Directors and Trustees

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

Statement of Cash Flows For the year ended 31 July 2020

tatement of Cash Flows
or the year ended 31 July 2020
Cash flows from operating activities:
Net income
Adjusted for:
Decrease in debtors
(Decrease)/ increase in trade and other payables
Depreciation
Cash generated from operations:
Cash flows from investing activities:
Purchase of equipment
Cash used in investing activities:
Net increase in cash & cash equivalents
Opening cash & cash equivalents
Closing cash & cash equivalents		 2020
£
9,533
6,955
(5,380)
631
11,739
(805)
(805)
10,934
103,035
113,969		 2019
£
(21,256)
106,927
1,147
248
87,066
(1,155)
(1,155)
17,124
85,911
103,035

The notes on pages 12 to 16 form part of these financial statements.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

1. ACCOUNTING POLICIES

1.1. Basis of preparation of the financial statements

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), and the Companies Act 2006.

Diane Modahl Sports Foundation meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

1.2. Company status

The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member. Diane Modahl Sports Foundation is incorporated in the United Kingdom.

1.3. Going concern

These financial statements have been prepared on a going concern basis. The directors have looked at least 12 months from the date of signing these financial statements and the charity existence to support its charitable objectives will be dependent upon the support of donors.

At the date of this report there are uncertainties in the UK economy as a result of the global COVID-19 donations from a diverse range of companies, individuals and organisations, and therefore does not consider the impact of COVID-19 to pose a significant threat to the continuing existence of the charity.

1.4. Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subject to restrictions on their expenditure imposed by the donor.

1.5. Income

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

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

1.6. Expenditure

All expenditure other than that capitalised has been reflected in the Statement of Financial Activities on an accruals basis.

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:

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and are included within charitable expenditure.

1.7. Fixed assets

Fixed assets are stated at their historical cost less depreciation and impairment. Depreciation of tangible fixed assets is calculated to write off the cost, less estimated residual value, over their anticipated useful economic lives as follows:

Computer equipment 3 years

1.8. Debtors

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

1.9. 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.

1.10. Creditors

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.

1.11. Financial instrument

The company 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.

1.12. Taxation

The company is a registered charity whose charitable activities are fully exempt from United Kingdom corporation tax.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

1.13. Critical accounting judgements and key sources of estimation uncertainty

and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The Trustees do not consider there to be any critical accounting judgements nor key sources of estimation uncertainty contained within the financial statements.

2. INCOME

The income is attributable to the principal activities of the company, all of which arise within the United Kingdom.

Donations

This represents income from fundraising events and other donations received.

Donated services and facilities of £24,889 (2019: £35,990) have been recognised as an estimate of their gross value to the charity.

Grant income

Government grants:
Sport England
COVID-19 emergency fund
Coronavirus Job Retention Scheme
Tameside Metropolitan Borough Council
Other
Other grants:
COVID-19 grants
Other		 2020
£
9,795
17,561
52,180
-
2,962
51,810
134,308		 2019
£
-
-
-
2,446
-
61,479
63,925

3. EXPENDITURE

All expenses are related to the continuing operations of the organisation.

During the year the charity incurred the following governance costs, Independent examination fees £360 (2019: £300); accountancy fees of £3,358 (2019: £1,708)

4. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 2020
£
123,444
7,684
2,506
133,634		 2019
£
104,897
5,801
1,735
112,433

No employee earned £60,000 per annum or more in the current or previous year.

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

4. STAFF COSTS (Continued)

The key management personnel of the charity comprise the CEO only. The total employee benefits of the key management personnel of the charity were £51,311 (2019: £49,228).

The average head count during the year was 5 (2019: 4). All employees are all full-time staff.

None of the trustees received any emoluments in connection with their duties as trustees during the year (2019: nil). No trustees received reimbursed out of pocket expenses (2019: nil).

The charity benefits from support in administration and delivery from volunteers, the approximate number of hours given by volunteers to the charity during the financial year totalled 90.

5. TANGIBLE ASSETS

Cost
At 31 July 2019
Additions
At 31 July 2020
Depreciation
At 31 July 2019
Charge for the year
At 31 July 2020
Net book value
At 31 July 2020
At 31 July 2019		 Computer
equipment
£
1,155
805
1,960
248
631
879
1,081
907

6. DEBTORS

Trade Debtors
Prepayments
Other taxes receivable
Other receivables
.
CREDITORS: amounts falling due within one year
Trade Creditors
Other Creditors		 2020
£
-
1,343
-
5,344
6,687
2020
£
1,677
8,210
9,887		 2019
£
10,667
1,283
1,692
13,642
2019
£
2,780
12,487
15,257

7. CREDITORS: amounts falling due within one year

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Diane Modahl Sports Foundation Company Registration No. 07211650 Registered Charity No. 1150767

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

8. STATEMENT OF FUNDS

Unrestricted funds
Restricted funds
The National Lottery Community
Fund
Serious Violence Intervention
Tameside Metropolitan Borough
Manchester Airport Group
Manchester Young Lives
4CT
Greater Sport
Satellite funding
Other specific projects		 Balance at
1 August
2019
£
77,628
-
-
5,000
10,056
9,633
-
-
102,317		 Income
£
234,537
16,388
52,180
-
15,740
10,500
5,715
3,468
338,528		 Resources
expended
£
(248,775)
(2,376)
(19,356)
(5,000)
(25,796)
(20,133)
(4,591)
(2,968)
(328,995)		 Balance
at 31 July
2020
£
63,390
14,012
32,824
-
-
-
,1,124
500
111,850

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Creditors due within one year		 Restricted
funds
£
-
48,660
(200)
48,460		 Unrestricted
funds
£
1,081
71,996
(9,687)
63,390		 Total
£
1,081
120,656
(9,887)
111,850

10. RELATED PARTY TRANSACTIONS

year Bryggen Sports Limited invoiced the charity £29,641 (2019: £6,089) for coaching services and training camp expenses provided on behalf of the charity. As at 31 July 2020 there was £6,714 due to this related party (2019: nil).

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