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2021-07-31-accounts

Trustees’ Annual Report and Unaudited Financial Statements

For the year ended 31 July 2021

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
Reference and administrative information 2
Trustees’ report 3
Independent examiner’s report 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; resigned 4 February 2022) 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

TRUSTEES’ ANNUAL REPORT

The Trustees, who are also directors of the company, present their annual report incorporating the directors’ report in accordance with the requirements of the Companies Act 2006, for the year ended 31 July 2021.

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

TRUSTEE’S ANNUAL 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 boost in pupils’ academic attainment and employability skills. 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:

The Foundations’ mission is to take the chance of success for young people and make it a choice. For more information visit www.dmsf.org.uk.

Policy on reserves

The Trustee’s agreed a reserves policy that is 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 2021 the charity had unrestricted funds of £25,028 (2021: £63,390) represented by unrestricted cash reserves of £41,956. The Trustee’s agreed to reduce the unrestricted reserves during the year to below £30,000 on the basis that restricted COVID-19 funding for fixed staff costs was received for a period covering disruptions during the COVID-19 period. Post year end, the charity has rebuilt the unrestricted reserve that suffered as a direct result of the COVID-19 pandemic and at the date of this report has once again a healthy unrestricted reserve in excess of the reserves policy. As a result of the COVID-19 pandemic and resultant UK wide lock down, the level of charitable activity was severely restricted at certain periods during the year. The charity made use of the government Coronavirus Job Retention Scheme and furloughed the majority of colleagues during these periods. The year under review has been a testing time financially, as we rely on continued support from our donors, during this period, 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

TRUSTEE’S ANNUAL REPORT (continued)

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 charity’s ability to continue in operational existence to support its charitable objectives will be dependent upon the support of donors.

Without doubt this has been one of the most difficult of years for everyone in the history of the organisation. The direct and indirect challenges that the Covid-19 pandemic presented were unrelenting and at times extremely frustrating. These included lockdowns, where the majority of young people had no access to their schools, education, their friends or access to a hot meal. The changing landscape of Covid-19 rules affected people’s mental health and well-being, particularly young people, many of whom were already vulnerable and for all of us our lives were made so much harder as the uncertainty impacted our support networks that we had all become to rely on as they were reduced or stopped completely.

Despite the incessant challenges I am so proud to write that our Senior Leadership Team, our Coaches, Volunteers, the Trustees and our wider team went above and beyond to keep our young people active, safe and supported, providing meals and well-being care and continuing to support their aspirations and deliver positive impact on their young lives. Without the leadership, culture and authentic teamwork the organisation would have struggled to pull through and I am extremely grateful for the commitment and resilience shown.

Achievements and Performance

In 2021 we registered 781 individual participants within DMSF delivering education and leadership programmes across 5 Schools and 2 Community Youth Hubs within Greater Manchester. We awarded 140 Assessment and Qualifications Alliance (AQA) certificates helping students to realise their potential across a variety of subjects including Managing Personal Finance, First Aid for Volunteers, Food Hygiene & Safety, Drugs Education, Diversity & Equality Awareness, Business for Life and Youth Leadership.

We employed 5 people including 3 on the Kickstart Apprenticeship Scheme and delivered 35 Career Professional Development opportunities for the DMSF team, including upskilling an AQA Unit Award Scheme Co-ordinator to internally certify our own certifications without delay.

The Summer Camp was a huge success, coming at a time when young people needed stability, opportunities to get outdoors, play and socialise. Delivered over 5 weeks, 275 young people registered with an average daily attendance of 64 children with a total of 1,672 attendances during the period.

In April 2022, post year end, we delivered the inaugural DMSF Easter Camp in partnership with MCRACtive at Cedar Mount Academy, with 4 days packed with multi-sport activity including crafts and well-being. Throughout the weeks we registered 42 young people with a total attendance of 92.

Another first included delivering our first ever Empowered Minds Primary School project at Rushbrook Academy in Gorton. A bespoke programme created to support a group of 50 pupils aged 9 – 11 years old. The intention of the programme is to develop confidence and self-esteem whilst providing the groups with an introduction to the necessary skills for becoming a successful member of their community both in and out of school. The impact has been significant:

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

TRUSTEE’S ANNUAL REPORT (continued)

2 Cohorts of 9 - 11 Year olds

We asked young people to fill out a questionnaire at the beginning and end of the programme as a way of measuring their perceived ability across six key areas:

Up to 22% increase in Character across both cohorts

Up to 24% increase in Interaction across both cohorts

Up to 21% increase in Skills across both cohorts

Up to 19% increase in Attitude across both cohorts

Up to 17% increase in Facing Challenges across both cohorts

Up to 12% increase in Behaviour across both cohorts

The External Engagement pillar of DMSF’s work goes from strength to strength despite very difficult times for businesses yet we have confirmed financial support over the next 2 years with 2 significant partners – Reside Property and Knight Knox. We are extremely grateful for the continued support of our longstanding partners including Daintree Wealth management and the Professional Football Association and also to our online donors without whom our impact would be diminished. The DMSF flagship fundraising gala dinner, in October 2021, post year end, also raised significant unrestricted funds enabling the organisation to support its existent programmes and extend into other relevant areas.

I wish to extend my gratitude to the whole team at DMSF for their commitment, resilience and passion to positively change young lives, I am proud to be involved and look further to further success.

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 26 April 2021 and signed on their behalf by

John Russell (Apr 26, 2022 11:06 GMT+1) John Russell

John Russell Chair of Trustees

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

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF DIANE MODAHL SPORTS FOUNDATION

I report on the financial statements of the charity for the year ended 31 July 2021, 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:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

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 ‘true and fair view’ and the report is limited to those matters set out in the statement below.

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

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF DIANE MODAHL SPORTS FOUNDATION (continued)

Independent examiner’s statement

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

have not been met; or

niiotuquaye

niiotuquaye (Apr 26, 2022 07:56 GMT+1)

Nii Otu Quaye FCCA FFA FCPA 11 Louvaine Close Manchester M18 8SJ Date: 26 April 2022

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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 2021

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
2021
Restricted
funds
2021
Total funds
2021
Total funds
2020
£
£
£
£
137,425
-
137,425
204,220
36,430
130,423
166,853
134,308
173,855
130,423
304,278
338,528
194,775
133,400
328,175
250,173
17,442
-
17,442
78,822
212,217
133,400
345,617
328,995
(38,362)
(2,977)
(41,339)
9,533
63,390
48,460
111,850
102,317
25,028
45,483
70,511
111,850

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 2021

Notes
Fixed assets
Tangible assets
5
Current assets
Debtors
6
Cash at bank & in hand
Creditors: amounts falling
due within one year
7
Net current assets
Net assets
Funds
Unrestricted funds
8
Restricted funds
8
Total funds		 2021
£
£
551
551
30,873
75,062
105,935
35,975
69,960
70,511
25,028
45,483
70,511		 2020
£
£
1,081
1,081
6,687
113,969
120,656
9,887
110,769
111,850
63,390
48,460
111,850		 2020
£
£
1,081
1,081
6,687
113,969
120,656
9,887
110,769
111,850
63,390
48,460
111,850
1,081
110,769
111,850
63,390
48,460
111,850

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 the provision of section 477 of the Companies Act 2006 (“the Act”) and 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 2021 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 26 April 2022.

John RussellJohn Russell (Apr 26, 2022 11:06 GMT+1) ~~………………~~ …………………… 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 2021

tatement of Cash Flows
or the year ended 31 July 2021
Cash flows from operating activities:
Net income
Adjusted for:
(Increase)/ decrease in debtors
Increase/ (decrease) in trade and other payables
Depreciation
Cash (used in)/generated from operations:
Cash flows from investing activities:
Purchase of equipment
Cash used in investing activities:
Net (decrease)/ increase in cash & cash equivalents
Opening cash & cash equivalents
Closing cash & cash equivalents		 2021
£
(41,339)
(24,186)
26,088
700
(38,737)
(170)
(170)
(38,907)
113,969
75,062		 2020
£
9,533
6,955
(5,380)
631
11,739
(805)
(805)
10,934
103,035
113,969

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 2021

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) (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’s ability to continue in operational 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 and global economy as a result of the COVID-19 pandemic and other geo-political factors, including high inflation, this may impact certain donor’s ability to continue their support of the charity. The charity receives donations from a diverse range of companies, individuals and organisations, and therefore does not consider these factor 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 2021

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 2021

1.13. Critical accounting judgements and key sources of estimation uncertainty

In applying the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The trustees’ judgements, estimates 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 £60,530 (2020: £24,889) have been recognised as an estimate of their gross value to the charity.

Grant income

Government grants:
DCMS Youth Covid Support Fund
Coronavirus Job Retention Scheme
Sport England
Other
Other grants:
COVID-19 grants
Other		 2021
£
71,467
27,328
10,000
-
-
58,058
166,853		 2020
£
9,795
17,561
52,180
-
2,962
51,810
134,308

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 (2020: £360); accountancy fees of £4,458 (2020: £3,358)

4. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 2021
£
122,472
7,283
2,758
132,513		 2020
£
123,444
7,684
2,506
**133,634 **

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 2021

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 £51,313 (2020: £51,311).

The average head count during the year was 4 (2020: 5). All employees are all full-time staff.

None of the trustees received any emoluments in connection with their duties as trustees during the year (2020: nil). No trustees received reimbursed out of pocket expenses (2020: 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 2020
Additions
At 31 July 2021
Depreciation
At 31 July 2020
Charge for the year
At 31 July 2021
Net book value
At 31 July 2021
At 31 July 2020		 Computer
equipment
£
1,960
170
2,130
879
700
1,579
551
1,081

6. DEBTORS

Trade Debtors
Prepayments
Other receivables
.
CREDITORS: amounts falling due within one year
Trade Creditors
Other Creditors		 2021
£
9,600
1,769
19,504
30,873
2021
£
708
35,267
35,975		 2020
£
-
1,343
5,344
6,687
2020
£
1,677
8,210
9,887

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 2021

8. STATEMENT OF FUNDS

Unrestricted funds
Restricted funds
The National Lottery Community
Fund
Serious Violence Intervention –
Tameside Metropolitan Borough
Manchester Active
Awards for All – National Lottery
DCMS Youth Covid Support Fund
Sport England - Return to Play
Postcode Neighbourhood Fund
Greater Sport – Satellite funding
Other specific projects		 Balance at
1 August
2020
£
63,390
14,012
32,824
-
-
-
-
,1,124
500
111,850		 Income
£
173,855
-
-
18,865
10,000
71,467
10,000
19,808
-
281
277,749		 Resources
expended
£
(212,217)
(14,012)
(24,426)
(6,041)
(6,341)
(71,467)
(622)
(8,651)
(1,124)
(714)
(319,088)		 Balance
at 31 July
2010
£
25,028
-
8,398
12,824
3,659
-
9,378
11,157
,-
67
70,511

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Creditors due within one year		 Restricted
funds
£
-
50,771
(5,288)
45,483		 Unrestricted
funds
£
551
55,164
(30,687)
25,028		 Total
£
551
105,935
(35,975)
70,511

10. RELATED PARTY TRANSACTIONS

Bryggen Sports Limited is a company controlled by Diane Modahl’s husband Jose Vicente Modahl, During the year Bryggen Sports Limited invoiced the charity £22,254 (2020: £29,641) for coaching services and training camp expenses provided on behalf of the charity. As at 31 July 2021 there was £1,392 due to this related party (2020: £6,714).

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