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2022-08-31-accounts

KINETIC FOUNDATION

Financial Statements

For the year ended 31 August 2022

COMPANY NUMBER 08246319 CHARITY NUMBER 1151315

Contents of the financial statements For the year ended 31 August 2022

KINETIC FOUNDATION

Page
1 Trustees' report – statutory information
2 - 8 Trustees’ report
9 Independent examiner’s report
10 Statement of financial activities
11 Balance sheet
12 - 17 Notes to the financial statements

Trustees’ report – statutory information For the year ended 31 August 2022

KINETIC FOUNDATION

DIRECTORS AND TRUSTEES

Mr A Barnes Resigned 4 May 2022 Mr K Bates Resigned 19 April 2022 Mr S Briggs Mr N Calvert Chair – Resigned 1 March 2023 Ms H Charlton Mr T Gardner Resigned 18 April 2022 Mr R Moore Mr S Munday Resigned 22 April 2022 Mr A Rennison Resigned 12 May 2022 Mr J Stevens Mr M Marinelli Appointed 27 April 2023

SENIOR MANAGEMENT TEAM

Mr J. Fotheringham Chief Operating Officer Mr H Hudson Academy Manager

REGISTERED OFFICE

5 Robin Hood Lane Sutton Surrey SM1 2SW

COMPANY NUMBER 08246319 CHARITY NUMBER 1151315

BANKERS

Lloyds TSB Commercial, Registered Office 25 Gresham St, London, EC2V 7HN

SOLICITORS

Dorsey & Whitney (Europe) LLP, 199 Bishopsgate, London, EC2M 3U

INDEPENDENT EXAMINER

Paul Newton FCA Jacob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW

Page 1

KINETIC FOUNDATION

Trustees’ report For the year ended 31 August 2022

The Trustees present their report and the financial statements of Kinetic Foundation for the year ended 31 August 2022, which have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102).

Executive summary

The Trustees are proud to summarise the progress made during the period in question as follows:

OUR AIMS AND OBJECTIVES

Purposes and Aims

The Kinetic Foundation supports disadvantaged and/or disengaged young people from the most deprived areas in London by delivering a wide range of educational opportunities for them to learn new skills and improve their employment potential. Focusing on community togetherness and using football as the hook for participation, we offer free sport and education projects regardless of gender, ability, financial situation or ethnicity, which deliver structured and engaging, learning and competition. We offer opportunities, raise aspirations and develop those often overlooked and written off.

The Need : Young people's ability to reach their potential and the opportunities afforded to them are affected by their social and demographic background.

Our Vision : Young people from any background are supported to develop core social and emotional skills to fulfil their potential as they transition to adulthood.

Our Purpose : Use football to engage young people and support them through education whilst developing their social and emotional skills.

We further these aims by specifically undertaking the following activities:

Page 2

Trustees’ report (continued) For the year ended 31 August 2022

KINETIC FOUNDATION

Ensuring our work delivers our aims

We have now completed the tenth year of operation as a registered charity. In the last 12 months, as in the previous years, we have built upon the projects we continue to run and launch, all with further success. Continually reviewing how our projects connect to and further our aims and objectives, we monitor each project as they progress and assess the achievements and the benefits that they have brought to our young people, so learning important lessons.

The focus of our work

We take each young participant and use their passion for football to focus and encourage them to participate in education, volunteer work and ultimately to provide them with viable prospects and a grounding for future work opportunities. But it is equally important that these young people then in turn use their position to coach, encourage and guide many other young people in their communities to similarly find confidence, opportunity and friendship through sport.

Page 3

KINETIC FOUNDATION

Trustees’ report (continued) For the year ended 31 August 2022

How our activities deliver public benefit

We doubled our engagement, staff, school numbers and participants during the covid-19 pandemic. In 2021/2022 the Kinetic Foundation delivered:

Initial engagement with young people is through free weekly football sessions often run at evening hours of high crime and antisocial behaviour. Football provides a platform for mutual respect and communication, which is a powerful tool for initial engagement and breaking down boundaries. The main aims of the structured community sessions are to give young people access to free physical activity and for our highly skilled coaches to provide support and advice, whilst signposting to future education and employment opportunities available to the individual.

Our main project is the Kinetic Academy, an inclusive Post-16 Football Academy. The project encourages every participant at Kinetic to stay in education and complete a University recognised course, all whilst pursuing their football dreams. This education environment, partnered with a structured football programme, provides each participant with an invaluable structure to help them develop and opens avenues into further education or employment. Our success stories show that 97% of our graduates secure employment or move on to university. We have alumni fulfilling their dreams of playing professional football, scholars at American universities, others attending Russell Group UK universities as well as a large number entering paid employment. All these outcomes are made possible through providing a clear vision and journey for each young person, changing their mindsets and unlocking their potential, all through a passion for football.

Our case studies highlight the barriers that our young people face due to their backgrounds and upbringing. In numerous cases of successful university admissions, students are the first of their family to attend. We provide opportunities to young people, whilst providing a support network to their families, who may otherwise find themselves involved in crime, gang culture or disengaged with society.

We have been a successful delivery partner of the HAF programme across London and Surrey engaging numerous young people, providing them nutrition education, physical activity and a nutritious meal during the Christmas, Easter and Summer holidays.

Page 4

Trustees’ report (continued) For the year ended 31 August 2022

KINETIC FOUNDATION

Launch of girls’ football

The Youth Sport Trust has identified that secondary age girls are more likely to experience barriers to participation than boys. Girls’ football is one of the fastest growing sports globally, yet many girls are still denied opportunities to take part in any physical activity, with football included in this.

Because of this, we analysed the scope and opportunities for girls’ football in our local area, and, in partnership with the Harris Federation, designed, consulted and piloted a girls’ football programme across 5 clusters of London. These sessions gave over 100 females the chance to play in structured football coaching sessions with the goal of participating in events in the Summer term.

Our end of season football tournament in July was meant to be a celebration of the project, the progress of the participants and bring girls together from across London, however this was cancelled due to the extreme heat. It has been rescheduled for October 2023. We will grow the team to include a girls’ football lead.

FINANCIAL REVIEW

Funding for the Charity comes mainly from partner school service delivery fees, grants, corporate partnerships and events.

The trustees would like to express their thanks and appreciation to the following benefactors for their very generous support:

During our tenth year in operation we raised funds of £470,818, an increase on the previous year. The largest contribution was £176,018 of Education Grants and Harris staff recharges made to support our full time Academy programme. The other major contribution was £205,000 of community grants for the delivery of community and holiday projects. Of the funds raised £526,660 was spent. With an increased number of hours delivered, young people in our programmes and further financial support by donors for our projects, our largest expenditure was £358,3766 in relation to staff costs, consultants and sub-contractors. We have a balance of £109,194 available at the end of the financial year which we intend to use to support our ongoing and new initiatives moving forward in-line with our financial reserves policy.

During a period of growth for the organisation, it was decided that our previous reserves were too large and that a significant spend should be attributed for staffing against our increased numbers. That included a growth of the senior leadership team to bring stability, management and expertise to our many projects. We also spent on growth projects such as girls’ football, marketing and fundraising to help improve and diversify our income streams.

FUTURE YEARS

We have received national coverage and awards for the Kinetic Academy project, our young people and the outcomes generated. Because of this, the number of Post-16 school spaces are continuing to grow and we are inundated with requests to join our programmes and want to provide more opportunities for more young people.

With course offerings at Harris Academy St John’s Wood, Harris Academy Orpington and Harris Invictus Academy Croydon launching last year, our numbers will continue to grow with additional Year 12 intakes

Page 5

Trustees’ report (continued) For the year ended 31 August 2022

KINETIC FOUNDATION

in September 2022. We have more than 300 young people enrolled on our Post-16 programmes for school year 2022/23 and envisage numbers passing 400 by September 2023.

We will maintain our engagement with 14-16-year-old participants through our free funded community football where we can continue to have the biggest impact on younger lives. This SportEducate project continues to run with generous funds donated by the Dylan Howells Foundation in South London and the Octavia Foundation in North London.

Holiday engagement will also continue with the HAF fund in our target locations. We aim to use this to engage more Year 10 and 11 students who receive benefits related free school meals and give 18-yearold graduates opportunities at their first coaching jobs.

We will grow the team to include a girls’ football lead to continue the cluster model of coaching across the 5 locations of London. It is our strategic goal to launch a post-16 girls’ football academy by September 2023.

We are embarking upon a new strategy that will focus on the following five areas:

  1. Widening Participation – Launch, establish and maintain participation in new geographic areas and further establish women and girls’ participation

  2. Educational, employability and personal development activities – Develop additional structured Educational, employability and personal development activities

  3. Impact – develop and communicate impact recording and reporting

  4. Financial stability – widening our partners and income streams

  5. Organisational development – ensure that staff and board positions align to our growth and that we provide development opportunities

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 12 October 2012 and registered as a charity on 21 March 2013. The company was established under a memorandum of association and articles of association which set out the objects and powers of the charitable company and govern its operations. In the event of the company being wound up the members are each required to contribute an amount not exceeding £10.

Board of Trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the articles of association, at each annual general meeting one-third of the board of trustees (such number to be made up of the longest serving members) must be put forward for re-election.

All members of the Board of Trustees give their time voluntarily and receive no benefits from the charity.

At the annual general meeting held on 28 June 2022, Hannah Charlton, Soye Briggs and Nicholas Calvert offered themselves for re-election and were duly re-elected. James Stevens offered himself for election and was duly elected.

As the charity’s focus is on young people and the provision of the bespoke sports-related programme, the Board of Trustees seeks to ensure that the requirements of this group and the programme are accurately reflected through the diversity of the trustee board. This is continually reviewed by the Board of Trustees – and all trustees have committed to ensuring the board is comprised of a balanced set of skills that add value to the charity, its partners and its beneficiaries.

Page 6

KINETIC FOUNDATION

Trustees’ report (continued) For the year ended 31 August 2022

The trustees have a good working knowledge of the Foundation’s aims and objectives and the initiatives in place to meet them. The board members bring vastly different experiences, qualifications and knowledge from traditional business; legal skills; experience in sports and working with underprivileged young people.

Organisational Structure

As of 31 August 2022, Kinetic Foundation had a board of trustees of 5 members from a variety of professional backgrounds relevant to the work of the charity, who meet at least quarterly and are responsible for the strategic direction and governance of the charity.

The day-to-day management of the Foundation including provision of the programmes and other initiatives is delegated to the Chief Operating Officer and the Academy Manager. They have responsibility for the overall operational management of the programmes including supervision of the young people and ensuring that the instructional and support team involved continue to develop their skills and working practices in line with good practice.

RESPONSIBILITIES OF THE BOARD OF TRUSTEES

The trustees (who are also directors of Kinetic Foundation for the purposes of company law), as set out on page 1, are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report is prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Page 7

KINETIC FOUNDATION

Trustees’ report (continued) For the year ended 31 August 2022

CONCLUSIONS

The Trustees continue to support and challenge all that Kinetic Foundation is doing in delivering its increasingly comprehensive programme to support young people. In spite of the challenges exerted by the coronavirus pandemic in past years – and the deep impacts this had on the communities Kinetic exists to serve, delivery of all key elements of Kinetic’s programmes has continued and in the case of the financial year in question, the reach and positive impact of the charity continues to grow. The Board of Trustees and the Kinetic management team seeks to continue delivering value to its strategic partners and we thank them for all of their support during the period. The trustees seek to further the reach of Kinetic foundation, investing sustainably in current and future delivery of programmes to ever greater numbers of young people, without compromising on safety and quality.

Kinetic Foundation maintains a strong financial position thanks to its core funding base from its strategic educational partners, in combination with a broadening programme of fundraising endeavours to diversify income streams and make the foundation ever more resilient and sustainable into the long term. The Board of Trustees operates with a reserves policy such that the Foundation continues reinvesting funds into carefully scaling the reach and impact of its core services – whilst balancing this with ensuring Foundation is financially stable. We as a Board of Trustees are grateful to Harry, James and all the Kinetic team for their tireless work in striving for positive outcomes for the young people with whom they work. Providing challenge and experience, the board has supported in shaping a recently revised future strategy of Kinetic – focused very carefully on doing “more of the same”, with a laser focus on improving the outcomes of as many young people as Kinetic can reach – and being as inclusive as possible. In the financial period under review and subsequently, this strategic review has included an assessment of the collective skillset possessed by the Board of Trustees, identifying any gaps and ensuring a sustained commitment by all trustees to delivering the very best outcomes possible at the charity. This has resulted in collectively making some changes in board composition, positioning the charity for considered and sustainable growth.

In delivering what we do, we are in deep gratitude to the many people, our strategic partners and organisations that generously donate their money, their time and their ideas. On behalf of everyone at Kinetic Foundation, we extend our thanks to them once again. We simply could not exist and help all the young people within our realm without that support and in turn those young people would be denied the life chances we seek to give them.

It is hugely gratifying and humbling to see the lives of the young people we exist to support develop positively; but the relationship between them, Kinetic Foundation and all our supporters is a symbiotic one where everyone derives some benefit. We would never presume it to be one way because it is the essence of our ethos that by giving and sharing, everyone gains including society as a whole. One only has to hear the stories of some of our Alumni to understand that.

As in every year, we extend and reiterate our infinite thanks to Harry and James for their tireless work and boundless passion and enthusiasm for all that Kinetic Foundation does, a sentiment I know that our young people would echo as they try their hardest to be the best that they can be and carry the Kinetic Foundation message into the world in their way.

Approved by the Board of Trustees on 22 May 2023 and signed on its behalf by:

J Stevens Board of Trustees, Director

Page 8

KINETIC FOUNDATION

Independent examiner’s report to the members of Kinetic Foundation For the year ended 31 August 2022

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022 set out on pages 9 to 16.

Responsibilities and basis of report

As the charity’s trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charites Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of 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 the Republic of Ireland (FRS 102)

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paul Newton FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW

Date: 24/05/2023

Page 9

KINETIC FOUNDATION

Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 August 2022

2022
Unrestr-
Restr-
icted
icted
Funds
Funds
Note
£
£
Income from:
Donations and legacies
2
28,627
-
Grants
2
146,108
105,242
Other trading activities
2
21,173
-
Other income
2
169,668
-
Total income
2
365,576
105,242
Expenditure on:
Raising funds
3
-
-
Charitable activities
3
416,401
110,259
Total expenditure
3
416,401
110,259
Net income
( 50,825) ( 5,017)
Transfers between funds
-
-
Net movement in funds
( 50,825) ( 5,017)
Reconciliation of funds
Total funds brought forward
9
160,019
5,017
Total funds carried forward9
109,194
-		 2022 Total
Unrestr-
icted
Funds
£
£
28,627
18,792
251,350
181,009
21,173
252
169,668
79,561
470,818
279,614
-
-
526,660
200,135
526,660
200,135
( 55,842)
79,479
-
-
( 55,842)
79,479
165,036
80,540
109,194
160,019		 2021
Restr-
icted
Funds
£
-
101,404
-
-
101,404
-
96,610
96,610
4,794
-
4,794
223
5,017		 Total
£
18,792
282,413
252
79,561
381,018
-
296,745
296,745
84,273
-
84,273
80,763
165,036

All of the activities are continuing. There were no recognised gains or losses other than those stated above.

The notes on pages 11 to 16 form part of these financial statements.

Page 10

KINETIC FOUNDATION

Balance sheet As at 31 August 2022

Note
Fixed assets
Tangible assets
6
Current assets
Debtors
7
Cash at bank and in hand
Creditors: Amounts falling due
within one year
8

Net current assets
Total assets less current liabilities
Funds:
Unrestricted fund
9
Restricted funds
9
Total Funds		 2022
£
£
2,121
30,715
117,744
148,459
(41,386)

107,073
109,194
109,194
-
109,194		 2021
£
£
3,455
54,936
189,689
244,625
(83,044)
161,581
165,036
160,019
5,017
165,036

For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the statement of affairs of the company as at the end of the financial year and of its profit for the year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the Company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved by the directors on 22 May 2023:

J Stevens Board of Trustees, Director

The notes on pages 11 to 16 form part of these financial statements.

Page 11

Notes to the financial statements For the year ended 31 August 2022

KINETIC FOUNDATION

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared under the Companies Act 2006 and 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 (FRS102) as amended by Update Bulletin 1) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting, and are prepared in sterling, which is the financial currency of the charity, rounded to the nearest £.

Kinetic Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW. The charity meets the definition of a public benefit entity under FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Tangible fixed assets

Tangible fixed assets costing more than £100 are capitalised and included at cost including any incidental expenses of acquisition.

Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life of four years on a straight line basis.

Debtors

Grants receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising 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 recognised at their settlement amount.

Financial instruments

The charity only has financial assets and 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.

Restricted funds

These are restricted income funds given to the charity for specific purposes. They are expendable by the trustees in furtherance of particular projects within the charity objects.

Page 12

Notes to the financial statements (continued) For the year ended 31 August 2022

KINETIC FOUNDATION

1. ACCOUNTING POLICIES (continued)

Unrestricted funds

These are funds expendable at the discretion of the trustees in furtherance of the objects of the charity.

Income recognition

Donations and other incoming resources (including legacies) are included in the Statement of Financial Activities (SOFA) when the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Grant income is accounted for on an accruals basis and matched to the appropriate period. No amounts are included in the financial statements for services donated by volunteers.

Expenditure recognition

All expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities and has been classified under headings that aggregate all costs related to the category.

2. INCOME

INCOME
Unrestr-
icted
Funds
£
Donations and legacies
Subscriptions and contributions
16,627
Sponsors
12,000
Gift Aid
-
28,627
Other trading activities
Fundraising activities
21,173
Grants
Core funding grants
40,000
Community grants
99,758
Education grants
6,350
146,108
Other Income
Job Retention Scheme
-
Harris Academy staff recharge
169,668
169,668
365,576		 2022 Total
Unrestr-
icted
Funds
£
£
16,627
14,354
12,000
4,000
-
438
28,627
18,792
21,173
252
40,000
19,970
205,000
24,057
6,350
136,982
251,350
181,009
-
12,051
169,668
67,510
169,668
79,561
470,818
279,614		 2021
Restr-
icted
Funds
£
-
-
-
-
-
-
105,242
-
105,242
-
-
-
105,242		 Restr-
icted
Funds
£
-
-
-
-
-
-
101,404
-
101,404
-
-
-
101,404		 Total
£
14,354
4,000
438
18,792
252
19,970
125,461
136,982
282,413
12,051
67,510
79,561
381,018

Page 13

KINETIC FOUNDATION

Notes to the financial statements (continued) For the year ended 31 August 2022

3. EXPENDITURE

EXPENDITURE
Unrestr-
icted
Funds
£
Charitable activities
Staff costs (note 5)
260,893
Contractors
34,199
Equipment and Kit
11,231
Facility Hire Football and Tours
36,039
Tours
-
Travel/accommodation
5,661
Advertising and administration
23,345
Rent
256
I.T. costs
461
General running costs
1,372
Subscriptions
104
Holiday programme costs
12,649
Entertainment
309
Fees and Fines
17,928
Insurance
1,072
Consultancy
7,308
Legal expenses
-
Depreciation
1,334
Telephone
280
Independent examination fees
600
Other accounting costs
1,360
416,401		 2022 Total
Unrestr-
icted
Funds
£
£
303,376
93,733
47,692
35,945
19,491
8,643
51,704
15,139
-
4,013
5,661
5,930
24,745
11,068
256
1,000
461
172
6,460
1,011
104
1,301
36,439
11,030
309
411
17,928
5,040
1,072
1,890
7,308
-
-
720
1,334
1,699
360
(205)
600
958
1,360
637
526,660
200,135		 2021
Restr-
icted
Funds
£
42,483
13,493
8,260
15,665
-
-
1,400
-
-
5,088
-
23,790
-
-
-
-
-
-
80
-
-
110,259		 Restr-
icted
Funds
£
49,440
14,008
7,162
9,090
-
-
3,910
-
-
3,550
1,220
7,260
-
-
470
-
-
-
500
-
-
96,610		 Total
£
143,173
49,953
15,805
24,229
4,013
5,930
14,978
1,000
172
4,561
2,521
18,290
411
5,040
2,360
-
720
1,699
295
958
637
296,745

4. TRUSTEES’AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES

No trustee received any emoluments during the year (2021: £nil). The total remuneration of the key management personnel of the charity was £20,713 (2021: £22,811).

5. STAFF COSTS

Wages and salaries
Social security costs
Pension costs
Other staff costs including recruitment and training		 2022
£
278,477
20,242
3,817
302,536
840
303,376		 2021
£
136,325
5,014
1,479
142,818
355
143,173

No employee earned more than £60,000 per annum. The average monthly number of employees during the year was 13 (2021: 8).

Page 14

KINETIC FOUNDATION

Notes to the financial statements (continued) For the year ended 31 August 2022

6.
TANGIBLE FIXED ASSETS
Fixtures &
Motor
Equipment
Vehicles
£
£
Cost
At 1 September 2021
3,795
3,000
Additions
-
-
Disposals
-
-
At 31 August 2022
3,795
3,000
Depreciation
At 1 September 2021
2,590
750
Charge for the year
584
750
At 31 August 2022
3,174
1,500
Net book value
At 31 August 2022
621
1,500
At 31 August 2021
1,205
2,250
7.
DEBTORS
2022
£
Trade debtors
30,140
Prepayments
575
30,715
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Trade creditors
31,114
Accruals
1,560
Deferred income
6,650
Other Creditors
944
Taxation and social security
1,118
41,386
Movement on the deferred income account:
At 1 September 2021
40,500
Grants released
(40,000)
Grants received relating to future periods
3,900
Sponsorship released
( 500)
Sponsorship received relating to future periods
2,750
At 31 August 2022
6,650		 Total
£
6,795
-
-
6,795
3,340
1,334
4,674
2,121
3,455
2021
£
52,586
2,350
54,936
2021
£
40,986
960
40,500
-
598
83,044

Page 15

KINETIC FOUNDATION

Notes to the financial statements (continued) For the year ended 31 August 2022

9. FUNDS

Balance at
31.8.2021
£
Unrestricted funds
160,019
Restricted funds
Real Madrid Foundation
5,017
Bromley Council
-
Croydon Council
-
Octavia
-
Sport England
-
5,017
165,036
Balance at
31.8.2020
£
Unrestricted funds
80,540
Restricted funds
Real Madrid Foundation
223
Community Foundation
for Surrey
-
Bromley Council
-
Croydon Council
-
London Funders
-
Octavia
-
223
80,763		 Transfers/
Balance at
Income Expenditure
Gains
31.8.2022
£
£
£
£
365,576
(416,401)
-
109,194
16,607
( 21,624)
-
-
37,937
( 37,937)
-
-
36,298
( 36,298)
-
-
8,100
( 8,100)
-
-
6,300
(6,300)
-
-
105,242
(110,259)
-
-
456,041
(526,660)
-
109,194
Transfers/
Balance at
Income Expenditure
Gains
31.8.2021
£
£
£
£
279,614
(200,135)
-
160,019
26,381
( 21,587)
-
5,017
7,700
( 7,700)
-
-
29,301
( 29,301)
-
-
23,652
( 23,652)
-
-
9,970
( 9,970)
-
-
4,400
(4,400)
-
-
101,404
(96,610)
-
5,017
381,018
(296,745)
-
165,036

The Real Madrid Foundation funding was to support the delivery of our community football sessions in Croydon.

Bromley Council funding was to run the HAF programme in 2022.

Croydon Council funding was to run the HAF programme in 2022.

Octavia Foundation funding was to run employability project at Harris Academy St John’s Wood to show new participants the new project launch in September 2022.

The Sport England Grant was from their Community Emergency Fund to support through the COVID19 crisis.

Page 16

Notes to the financial statements (continued) For the year ended 31 August 2022

KINETIC FOUNDATION

10. RELATED PARTY TRANSACTIONS

Kinetic Foundation paid staff costs under joint contracts of employment of £20,713 (2021: £22,811) to Kinetic Coaching in Sport Ltd during the year, a company jointly owned by the key management personnel Mr J Fotheringham and Mr H Hudson. Kinetic Foundation also recharged £169,668 (2021: £67,510) of staff costs under joint contracts of employment to Kinetic Coaching in Sport Ltd during the year. At the year end the charity owed £21,347 (2021: £30,169) to Kinetic Coaching in Sport Ltd.

Page 17