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2022-07-31-accounts

Trustees’ Annual Report and Unaudited Financial Statements

For the year ended 31 July 2022

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

CHIEF EXECUTIVE OFFICER

Diane Modahl (resigned 27 March 2023) Aaron Willis (appointed 27 March 2023)

TRUSTEES WHO ARE ALSO THE DIRECTORS IN COMPANY LAW

Abid Hussain (resigned 4 February 2022) Mark Gerard Mann (appointed 25 July 2022) Clare Lisa Morton Jack Murphy Charlene Lancaster John Russell Aaron Saxon Steven Worthington Marc Yaffe

COMPANY REGISTRATION NUMBER

07211650

CHARITY REGISTERED NUMBER

1150767

REGISTERED OFFICE

Diane Modahl Sports Foundation Foursynergy Quays Reach 16 Carolina Way Salford M50 2ZY

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 2022.

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 2022 the charity had unrestricted funds of £46,711 (2021: £25,028) represented by unrestricted cash reserves of £69,876. In the prior year the Trustee’s agreed a temporary reduction to the unrestricted reserves 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. During the current financial year, the charity has worked hard to rebuild the unrestricted reserve that suffered as a direct result of the COVID-19 pandemic and the unrestricted reserves policy relaxation removed.

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

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

TRUSTEE’S ANNUAL REPORT (continued)

Achievements and Performance

In 2022 we registered 1,040 participants within DMSF delivering education and leadership programmes across 5 Schools and 2 Community Youth Hubs and 3 satellite sessions within Greater Manchester. We awarded 145 Assessment and Qualifications Alliance (AQA) certificates helping students to realise their potential across a variety of subjects including Sports Leadership levels 1 & 2, Interview skills, CV writing, Sport Event Planning, Introduction to Managing Personal Finance, Budgeting for & Cooking Healthy Meals, Basic First Aid, Youth Leadership and 10 Sports Specific Units.

We employed 2 on the Kickstart Apprenticeship Scheme and delivered 7 Career Professional Development opportunities for the DMSF team.

The continuation of our Summer Camp was a huge success again this year. Providing much needed opportunities for our young people to get outdoors, play and socialise. Delivered over 4 weeks, 270 young people registered, 40% of which are entitled to free school meals. Our average daily attendance was 75 children with a total of 1,202 attendances during the period.

In December 2022, post year end, we delivered the inaugural DMSF Winter Camp in partnership with MCRACtive at Cedar Mount Academy, with 4 days packed with multi-sport activity including crafts and well-being. We facilitated a trip to the theatre for 40 children to watch a Christmas pantomime. During the camp we registered 67 young people and had a total of 160 attendances.

We have continued the success of our pilot primary Empowered Minds programme at Rushbrook Academy in Gorton. The bespoke programme was created to support a group of 75 pupils aged 9 – 11 years old in termly cohorts of 25 across the academic year. 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 continues to be significant:

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

TRUSTEE’S ANNUAL REPORT (continued)

3 Cohorts of 9 - 11 Year olds

In the first term we asked the first cohort 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:

15% increase in Character – this area concerns an individual’s confidence, self-esteem, and pride in their abilities and who they are.

14% increase in Interaction – this area concerns the skills needed to communicate effectively with others, a crucial element of being part of a team and a leader.

5% increase in Basic Skills – this area concerns an individual’s ability to achieve goals by a deadline, make decisions and complete tasks on their own.

13% increase in Attitude – this area concerns an individual’s ability to take responsibility for themselves with regards to their actions, learning and general personal administration.

15% increase in Facing Challenges – this area concerns an individual’s skills in conflict resolution and problem solving. Individuals also reflect on their willingness to learn something new and whether they know who to go to for assistance in resolving problems.

6% increase in Behaviour – this area concerns an individual’s ability to show care and respect for others alongside the ability to control emotions, feelings, and behaviour in difficult situations.

The DMSF flagship fundraising gala dinner, in October 2021, 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 30 May 2023 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

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 2022, 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

− 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: 30 May 2023

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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 2022

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
2022
Restricted
funds
2022
Total funds
2022
Total funds
2021
£
£
£
£
196,472
-
196,472
137,425
42,818
151,223
194,041
166,853
239,290
151,223
390,513
304,278
185,345
138,560
323,905
328,175
32,262
-
32,262
17,442
217,607
138,492
356,167
345,617
21,683
12,663
34,346
(41,339)
25,028
45,483
70,511
111,850
46,711
58,146
104,857
70,511

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 2022

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		 2022
£
£
470
470
7,754
127,126
134,880
30,493
104,387
104,857
46,711
58,146
104,857		 2021
£
£
551
551
30,873
75,062
105,935
35,975
69,960
70,511
25,028
45,483
70,511		 2021
£
£
551
551
30,873
75,062
105,935
35,975
69,960
70,511
25,028
45,483
70,511
551
69,960
70,511
25,028
45,483
70,511

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 2022 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 30 May 2023.

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 2022

tatement of Cash Flows
or the year ended 31 July 2022
Cash flows from operating activities:
Net income
Adjusted for:
Decrease/ (increase) in debtors
(Decrease)/ Increase in trade and other payables
Depreciation
Cash generated from / (used in) operations:
Cash flows from investing activities:
Purchase of equipment
Cash used in investing activities:
Net increase/ (decrease) in cash & cash equivalents
Opening cash & cash equivalents
Closing cash & cash equivalents		 2022
£
34,346
23,119
(5,482)
600
52,583
(519)
(519)
52,064
75,062
127,126		 2021
£
(41,339)
(24,186)
26,088
700
(38,737)
(170)
(170)
(38,907)
113,969
75,062

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 2022

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 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 2022

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 2022

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 £18,885 (2021: £60,530) 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 grants:
National lottery
Other		 2022
£
-
-
4,725
82,966
106,350
194,041		 2021
£
71,467
27,328
10,000
`10,000
48,058
166,853

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 (2021: £360); accountancy fees of £4,648 (2021: £4,458)

4. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 2022
£
145,643
9,692
3,493
158,828		 2021
£
122,472
7,283
2,758
132,513

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 2022

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 (2021: £51,313).

The average head count during the year was 5 (2021: 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 (2021: nil). No trustees received reimbursed out of pocket expenses (2021: 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 865.

5. TANGIBLE ASSETS

Cost
At 31 July 2021
Additions
At 31 July 2022
Depreciation
At 31 July 2021
Charge for the year
At 31 July 2022
Net book value
At 31 July 2022
At 31 July 2021		 Computer
equipment
£
2,130
519
2,649
1,579
600
2,179
470
551

6. DEBTORS

Trade Debtors
Prepayments
Other receivables		 2022
£
603
7,151
-
7,754		 2021
£
9,600
1,769
19,504
30,873

7. CREDITORS: amounts falling due within one year

Trade Creditors
Other Creditors		 2022
£
1,141
29,352
30,493		 2021
£
708
35,267
35,975

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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 2022

8. STATEMENT OF FUNDS

Unrestricted funds
Restricted funds
Serious Violence Intervention –
Tameside Metropolitan Borough
Manchester Active – Holiday Active
Funds
Awards for All – National Lottery
Sport England - Return to Play
Postcode Neighbourhood Fund
The National Lottery Community
Fund: Reaching communities
Henry Smith Charity –
Sustainability grant
Sport England Governance Award
Young Manchester Holiday Buzz
Other specific projects		 Balance at
1 August
2021
£
25,028
8,398
12,824
3,659
9,378
11,157
-
-
-
-
67
70,511		 Income
£
239,290
-
23,353
2,160
-
-
80,806
27,700
4,725
12,479
-
390,513		 Resources
expended
£
(217,607)
(8,398)
(16,885)
(5,819)
(9,378)
(11,157)
(47,003)
(22,649)
(4,725)
(12,479)
(67)
(356,167)		 Balance
at 31 July
2022
£
46,711
-
19,292
-
-
-
33,803
5,051
-
-
-
104,857

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Creditors due within one year		 Restricted
funds
£
-
61,730
(3,584)
58,146		 Unrestricted
funds
£
470
73,150
(26,909)
46,711		 Total
£
470
134,880
(30,493)
104,857

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 £21,320 (2021: £22,254) for coaching services and training camp expenses provided on behalf of the charity. As at 31 July 2022 there were no amounts due to this related party (2021: £1,392).

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