## 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 2 **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: - The improvement of the physical and mental health of people under the age of 25 by participating in multi sports activities. - The provision or assistance in the provision of facilities and resources to enable, assist, and encourage young persons (without distinction of attainment or potential between them) under the age of 25 years receiving education at schools, universities colleges or similar establishments in the United Kingdom (or otherwise receiving education or vocational training in connection with their employment or a government sponsored scheme in the United Kingdom) in athletic pursuits in connection with such education, thereby helping to ensure that due attention is given to the physical education and development and occupation of their minds; - the relief generally of persons who are physically or mentally disabled from their disabilities by facilitating their participation in athletic sporting events; - to encourage and assist in the development of trainers to ensure that they can offer support in the attainment of the first objective; - the promotion of more effective working of other educational and recreational charities by the provision of advice, equipment and other facilities to them calculated to achieve directly such aims; - the advancement of public education and awareness in the provision of drug abuse in sport; and the general purposes of such bodies or for such other purposes as shall be exclusively charitable as the trustees may from time to time decide. 3 **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: - Schools sport, leadership, mentoring, skills for life - Community Youth Hubs multisport activity and leadership qualifications - Athletics Performance creating an environment where prohibitive barriers have been removed in order for young people to fulfil their sporting aspiration - Building the Future a hands-on career roadshow creating opportunities for young people to gain experience of a diverse range of industries to help inform career pathways External Engagement public sector and commercial partnerships 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. 4 **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. 5 **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** 6 **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 7 **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: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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 8 **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. 9 **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** 10 **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. 11 **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. 12 **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: - Costs of raising funds comprise fundraising expenses and advertising and marketing costs; Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes those costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 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. 13 **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. 14 **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** 15 **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). 16