**Charity number: 1152390** 

## **PLAY FOR CHANGE** 

**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2021** 



## **PLAY FOR CHANGE** 

## **CONTENTS** 

|Legal and administrative information|1|
|---|---|
|Trustees’ Report|2 - 8|
|Independent examiner’s report|9|
|Statement of financial activities|10|
|Balance sheet|11|
|Notes to the financial statements|12 - 18|





## **PLAY FOR CHANGE** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

|**Trustees**|A. Radrizzani|
|---|---|
||D. Menken|
|**Charity registered number**|1152390|
|**Principal office**|Suite LG|
||11 St James's Place|
||London|
||SW1A 1NP|
|**Independent examiner**|Amy Healey FCA CTA DChA|
||Lindeyer Francis Ferguson Limited|
||Chartered Accountants|
||North House|
||198 High Street|
||Tonbridge|
||Kent TN9 1BE|
|**Bankers**|HSBC Bank plc|
||79 Piccadilly|
||London|
||W1J 8EU|
|**Accountants**|Charter Tax Consulting Limited|
||11 St James's Place|
||London|
||SW1A 1NP|



1 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

The Trustees present their annual report together with the financial statements of Play for Change (the charity) for the year ended 31 March 2021. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions 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 Republic of Ireland (FRS 102)” (effective 1 January 2019) (Charities SORP(FRS 102)). 

The information on page 1 forms part of this report. 

## **Structure, governance and management** 

The charity is governed by its Trust deed dated 12 March 2013. The charity was registered with the Charity Commission on 12 June 2013. 

There have been no changes in the objectives since the last annual report. 

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. 

## **Objectives and activities** 

## _Objectives_ 

In setting objectives and planning activities, the Trustees’ have given due consideration to general guidance published by the Charity Commission relating to public benefit. 

The objects of the charity as set out in the governing document are: 

1. the provision of facilities for recreation or other leisure time occupation, either for the benefit of the general public or for the benefit of those who by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances have a need of such facilities. 

2. the relief of poverty, distress or suffering by appropriate charitable (whether medical, rehabilitative, financial or other) assistance in any part of the world whether victims of: 

   - breaches of human rights; 

   - any public calamity (including famine, earthquake or pestilence); 

   - the immediate or continuing effects of lack of natural or other resources; or 

   - any other cause of poverty distress or suffering. 

3. the promotion of community participation in healthy recreation by the provision of facilities for playing sports. 

4. the advancement of the physical education of young people whether or not undergoing formal education. 

5. the provision of life-enhancing opportunities for children and young people from disadvantaged backgrounds. 

6. to develop the health and life skills of children and young people through education, utilising in particular the teaching and playing of sport. 

2 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

The charity achieves its objectives by: 

- Working with local partners to create educational and employment opportunities for young people, enabling them to build life skills and better prospects. 

- Providing support to other charities and causes that share a passion and commitment to helping children and young people. 

- Building long lasting friendships with corporate partners, charities and stakeholders in order to continue to raise awareness and funds for causes that make a difference by empowering the young. 

- Organising events and other fund-raising initiatives through its subsidiary company, I Play for Change Limited, whose profits have been entirely donated to the Charity. 

## **Achievements and performance** 

Play for Change is an International charity organisation, dedicated to the development of sports and educational programs with the aim of improving the life expectations of children and young people living in vulnerable contexts or in economical, cultural and social distress. Along with the Italian Social Enterprise, we create and invest in social innovation projects by creating sustainable business models 

## **Our Goal:** 

We aim to enhance life opportunities for children and young people, living in vulnerable contexts by spreading the values of sport as the most powerful key to overcome prejudice, reduce inequalities and break down social and cultural barriers. By creating inclusive and accessible sport activities and by equipping young generations with the life skills they need, we unleash new possibilities and better prepare them for the circumstances that future may present. We strongly believe that social interaction through sport and recreational arts leads to community development, life skills enhancement and healthy generations. 

Our programs are carefully designed with local partners to meet the needs of beneficiaries and communities, encouraging sports participation, addressing social issues and supporting policies to ensure in the long-term, a sustainable development of the community. 

The values of sport: 

- A fundamental right for everybody 

- The catalyst for social and cultural change 

- It has got a significant role in children's cognitive, emotional and physical development 

- It creates an ecosystem within economic development for communities 

- It provides an educational model for underprivileged youth 

- It is a tool for integration and aggregation 

- It is promoter of healthy lifestyle and well-being with positive effects in sickness prevention 

## Results achieved: 

- Finalised a new programme in different territories 

- Establish various cooperation at local level and institutional funding 

3 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

- Maintained a good reputation as a non-profit organization 

- Created a recognised brand in Nepal (KK) and launched a social program in Italy 

- Contributed to create long-term impact by entering around 100 schools with over 6,000 children and 10,000 community members 

- Carried out a cost-effective analysis to evaluate different options for using the funds 

- • Optimised resources for a more appropriate use and in line with the objectives and outcomes to achieve 

During the year ended 31 March 2021, the charity has continued to deliver sustainable sport initiatives by: 

- Working with local communities and identifying experts from various sectors to develop an infrastructure for regular sporting activities that are accessible by all children 

- Liaising with sport organisations and federations to maximise the social impacts and raise awareness of our causes 

- Increasing engagement from corporates to create unique global pathways for companies to deliver social responsibility projects 

- Spreading influence through the ambassadors and leverage the networks through running events that raise funds and awareness of our programmes. 

During the 2020-21 year there were two active projects: 

**1. Nepal ( Lalitpur):** with the overall objective to create a conducive learning environment for both girls and boys at their school and community by providing sporting opportunities for their physical, mental and emotional health. The project was carried out in 16 schools, involving indirectly 2K students and 16 teachers, using volleyball, badminton and Zumba as main sport activities. 

## Context of reference: 

- High drop out rate in schools and lack of conducive learning environment, particularly impacting socially excluded groups 

- Lack of sport infrastructure (facilities, equipment, structure and knowledge about sport) 

- High level of gender inequality, embedded throughout many aspects of the community 

## Main achievements: 

- Launched 3 community outdoor gyms 

- Improved sport facilities to carry out the sports activities. 

- Gender sensitization, Life skills training and open theatre sessions completed 

- Training to 25 women group and 22 youth groups finalised 

- Sports equipment and first aid kits distributed to all schools 

Due to the Covid restrictions, the project activities were interrupted in March and could not regularly continue until October 2020. The team organized few different activities: 

- Content production on YouTube about sport motivation 

- Bike tour with girls promoting gender equality and a social campaign against female violence and rape 

- Distributing food and other items to the community families in need 

- Online courses for fitness and nutrition 

4 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

Along with the local partner, Global Action Nepal, an extension plan has been finalised and waiting to receive positive feedback in order to be launched. The name of the proposed project is Keti Sakti, meaning girls power. 

Context of reference: Nepal, one of the poorest countries of the world, has high levels of gender discrimination due to a patriarchal society and women passive participation/low engagement in the society. 

Among rural youth this is reflected in educational, social, and work inequalities. Furthermore, serious health consequences for women come from child marriage and labour, human trafficking, early pregnancy, domestic violence, and abandonment. 

The overall objectives: Creation of several Community Learning Centers where marginalized girls will learn competences ranging from sport to soft skills (leadership, global citizenship, public speaking) to income generating activities (haircutting, candle/soap making, cooking). 

## Main goals: 

The project aims to use football as powerful tool to break down barriers, overcome prejudice and reduce social inequalities 

Provide a healthy educational environment to involve local girls in understanding their own needs and taking active part in better shaping the community 

The CLCs will implement an innovative methodology to develop a national-level network to empower marginalized girls, equipping them with skills to live with dignity and economic independence 

**2. Italy ( Naples):** the project, started in July 2019 was aimed to the  the renovation of a community sport center in the Sanità district in the city of Naples and to the delivery of a sport program, involving up to 150 children (from 6 to 14 years old) including those affected by disabilities 

## Context of reference: 

The district is one of the most deprived areas of the city of Naples, characterized by high density of population and rate of social inequality. High rates of early school dropout (16% between the ages of 6 and 16). Lack of social, cultural and sports facilities 

## Main goals: 

To prevent school drop-out and any form of criminal behavior 

To promote healthy lifestyles 

To provide children with cultural development and physical training 

- To integrate children from different background and with any form of disability 

- To create a network within the community to support the positive change 

Due to Covid restrictions, activities were interrupted in March 2020 however the local partner was able to organize a summer camp in June and July 2020 involving more than 150 children and teenagers who were able to play sport and enjoy other recreational activities. A final report was sent to UEFA Foundation in October 2020 with positive feedback. 

5 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

**Play for Change Social Enterprise:** Following the decision of the president and main donor Andrea Radrizzani to create a new hub in Italy, a social enterprise was set up in January 2020, owned 100% by Aser Media, with the mission to support greater social equity and long-term sustainability to local communities by delivering innovative social projects.  The team is made of Valeria Ignarra as MD and Ludovica Gorla as partnership manager. 

Main areas of actions: 

## 1. Sport for sustainable Development 

The social company operates along with an anonymous UK and USA Charitable Trust, dedicated since 2015 to the development of sports and educational programs with the aim to improve the life expectations of children and young people living in vulnerable contexts or affected by economical, cultural, and social distress . 

## 2. Support and Empowerment 

- We promote the sustainable development by offering a support and strengthening digital platforms to non- profit associations and companies. 

## 3. Business Consulting 

We provide companies with the necessary advice to implement the ESG strategy to reach the SDGs goals, along with the monitoring & reporting of the social impact delivered. 

## 4. Social innovation projects 

We invest in social inclusion projects, developing the most effective and innovative solutions by implementing them according to sustainability, scalability, and replicability criteria. 

## Our Values: 

- Inclusion: ensuring access to recreational and sporting activities to everyone, in respect of different abilities, social and cultural background. 

- Participation: take an active part by generating a positive impact 

- Collaboration: supporting innovative projects by creating a collaborative network 

The transfer to our representative office in Milan, has been a strategic and perfectly timed decision meaning that we could follow closely the development of the project in Naples, funded by the UEFA Foundation. 

In June 2020, the Swedish multinational clothing-retail company H&M, selected Play for Change as their charity partner for the special kids’ football collection sale campaign, featuring replica football shirts from 16 countries around the world to celebrate the power of football as a tool to shape the future of children, transforming lives and communities. The campaign, launched simultaneously in different countries, donated 100% of the profits to support Play for Change programs. After 20 days of campaign, where the minimum target was Eur 150K, the total amount raised was Eur 240K 

Through the Italian social enterprise, the team managed to close an important partnership with other two Italian Foundations for a three-year project raising in total Eur 1mil. The main purpose is to create five Sport Community centers in three different cities (Rome, Naples, and Palermo) with the aim to make sport accessible to young children and people living in disadvantaged contexts to support them in developing life skills through the powerful values of sport. 

## Main goal: 

- To involve children and young people in educational and sport activities 

- To include people with disabilities 

6 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

- To support girls and young women participation in sport 

- To reduce school -dropout and criminal behavior 

- To enhance networks and alliances with no-profit institutions, corporations and individuals sharing the same values 

- To involve the communities and families 

- To renovate sport centers to make them a safe place for social aggregation 

- To promote health & wellbeing, active citizenship and volunteering 

**Expected Sport activities** : gymnastics, karate, tennis table, volleyball, basketball, athletics, football 

## **Expected Impact:** 

- § 1200 direct beneficiaries 

- § 700 community members involved 

- § Greater social integration 

- § Job creation 

- § Gender equity 

- § Environmental impact with green spaces 

- § Material recycling and electric mobility 

- 

- § Long term sustainability 

In January 2021, the Italian Social enterprise launched an innovative platform called OGNI SPORT OLTRE (Any Sport Beyond) as the first Italian digital platform for social sport projects, supporting local associations to raise funds for their activities and promoting accessible sport for people with disabilities. 

Fundraising activities were previously carried out through the Charity’s subsidiary company, I Play for Change Limited, which was closed in 2020 and therefore no profits were donated in the year (2020: £0). 

In support of its activities, the charity made grants during the year of £35,191 (2020: £114,035). 

## **Financial review** 

In the year ended 31 March 2021, unrestricted income receivable was £28,540 (2020: £81,048). Unrestricted expenditure was £17,017 (2020: £46,908). Restricted income receivable was £16,597 (2020: £70,496). Restricted expenditure was £25,958 (2020: £114,035). The net surplus for the year was £2,162 (2020: deficit of £9,399). Total reserves as at the year end were £263 (2020: deficit of £1,899) and none of these were restricted. Unrestricted free reserves at the year-end were £263 (2020: deficit funds of £11,260). The trustees confirm that sufficient cash reserves continue to be maintained to meet the Trust’s obligations. 

## _Reserves Policy_ 

The trustees have determined that the appropriate minimum level of unrestricted reserves should be equivalent to a year’s worth of operational expenditure of approximately £26,000 unrestricted funds. The trustees review the reserves policy each year and in doing so consider the expected costs for the year ahead. As at 31 March 2021, unrestricted free reserves were £263, however following a donation post year end, the trustees consider that there are sufficient funds for 2021/22 and further funding is in the process of being agreed for 2022/23. 

7 



## **PLAY FOR CHANGE** 

## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **Statement of Trustees’ responsibilities** 

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations. 

Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its surplus or deficit for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP (FRS 102); 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

This report was approved by the Board of Trustees on 31 January 2022 and signed on their behalf by: 

A Radrizzani 

## **Trustee** 

8 



## **PLAY FOR CHANGE** 

## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PLAY FOR CHANGE** 

## **Independent examiner’s report to the trustees of Play for Change** 

I report to the trustees on my examination of the accounts of Play for Change (the Charity) for the year ended 31 March 2021. 

## **Responsibilities and basis of the report** 

As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report on my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner’s statement** 

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

1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 

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

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 

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. 

Dated: 31 January 2022 

**Amy Healey FCA CTA DChA Lindeyer Francis Ferguson Limited** Chartered Accountants North House 198 High Street Tonbridge Kent TN9 1BE 

9 



## **PLAY FOR CHANGE** 

## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

|**Notes**<br>**Income from:**<br>Donations<br>**2**<br>Bank interest<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**3**<br>**Total expenditure**<br>**Net income/(expenditure) and net**<br>**movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**10**|**_2021_**<br>**_2021_**<br>**_2021_**<br>**_Unrestricted_**<br>**_Funds_**<br>**_Restricted_**<br>**_Funds_**<br>**_Total_**<br>**_funds_**<br>**_£_**<br>28,522<br>16,597<br>45,119<br>18<br>-<br>18|**_2020_**<br>**_Total_**<br>**_funds_**<br>**_£_**<br>151,487<br>57|
|---|---|---|
||28,540<br>16,597<br>45,137|151,544|
||17,017<br>25,958<br>42,975|160,943|
||17,017<br>25,958<br>42,975|160,943|
||||
||11,523<br>( 9,361)<br>2,162|( 9,399)|
||( 11,260)<br>9,361<br>( 1,899)|7,500|
||**263**<br>**-**<br>**263**|**( 1,899)**|



10 



## **PLAY FOR CHANGE** 

## **BALANCE SHEET** _**AS AT 31 MARCH 2021**_ 

|**Notes**<br>**Fixed assets**<br>Investments<br>**7**<br>**Current assets**<br>Debtors<br>**8**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within one year**<br>**9**<br>**Net current assets**<br>**Total net assets**<br>**Charity funds**<br>Unrestricted funds<br>Restricted funds<br>**Total funds**<br>**10**|**_2021_**<br>**_£_**<br>22<br>4,297|**_2021_**<br>**_£_**<br>-|**_2020_**<br>**_£_**<br>5,829<br>5,228|**_2020_**<br>**_£_**<br>1|
|---|---|---|---|---|
|||-<br>263||1<br>( 1,900)|
||4,319<br>( 4,056)||11,057<br>( 12,957)||
||||||
|||**263**||**( 1,899)**|
|||263<br>-||( 11,260)<br>9,361|
|||**263**||**( 1,899)**|



The financial statements were approved by the Trustees on 31 January 2022 and signed on their behalf, by: 

## A. Radrizzani 

## **Trustee** 

11 



## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **1 Accounting policies** 

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

## **1.1 Basis of preparation** 

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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

Play for Change 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 note(s). 

The financial statements are presented in pounds sterling and rounded to the nearest pound. 

## **1.2 Status** 

Play for Change is an unincorporated charity registered with the Charity Commission in England and Wales. The address of the principal office is Suite LG, 11 St James's Place, London, SW1A 1NP. 

## **1.3 Going concern** 

The trustees have considered the level of reserves at the year end, and have arranged for funds to improve the position post year end. They therefore do not consider there to be any material uncertainties relating to going concern in this regard. The trustees have also considered the impact of Covid-19, and do not consider any material uncertainties to have been created by the pandemic. 

## **1.4 Income recognition** 

Income is recognised once the charity has entitlement to income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. For donations, this is either on receipt or when the charity is notified that a donation is receivable. Donated services are recognised at the value of the fees waived. 

12 



**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **PLAY FOR CHANGE** 

## **1.4 Income recognition continued** 

For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds. Where grants are received in response to a proposal including a budgeted timescale, such that the timescale for the expenditure is implicit in the grant agreement, the income is recognised in accordance with that timescale. 

## **1.5 Resources expended** 

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be measured or estimated reliably. 

Grants payable are recognised when the offer is made except in those cases where the offer is conditional and payment is possible but not probable, such grants being recognised as expenditure when the conditions attaching are likely to be fulfilled. Grants offered subject to conditions where payment is possible but not probable are noted as a commitment, but not accrued as expenditure. 

Support costs are those costs incurred in support of expenditure on the objects of the charity. 

## **1.6 Financial instruments** 

The charity has financial instruments of a kind that qualify as basic financial instruments. The charity's short term debtors and creditors are recognised at the settlement amount. 

## **1.7 Fixed assets** 

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their expected useful lives on the following bases: 

Office equipment          -         4 years straight line 

## **1.8 Investments** 

Investments in subsidiary undertakings are stated at cost less provision for impairment. 

## **1.9 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the provider of the grant or donation. 

13 



## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **2 Donations** 

|**Donations**|||
|---|---|---|
|Donations<br>Grants<br>Donated services<br>In the previous year restricted grants were received of £70,496.<br>Donated services relate to accountancy fees waived.|**_2021_**<br>**_£_**<br>22,455<br>16,597<br>6,067<br>45,119|**_2020_**<br>**_£_**<br>77,797<br>70,496<br>3,194|
|||151,487|
||||



## **3 Expenditure on charitable activities** 

|**Expenditure on charitable activities**|||
|---|---|---|
|_Grants and donations:_<br>Global Action Nepal - Khelaun Khelaun<br>La Locomotiva Onlus Project<br>_Direct costs:_<br>Wages and salaries<br>Travel and meeting costs<br>_Support costs:_<br>Computer costs<br>Insurance<br>Accountancy fees<br>Consultancy fees<br>Exchange rate variance<br>Disposal of investment<br>Bank charges<br>Governance: Independent examiner's fee|**_2021_**<br>**_£_**<br>9,233<br>25,958<br>35,191<br>-<br>-<br>-<br>90<br>6,067<br>-<br>( 2,130)<br>1<br>-<br>3,756<br>42,975|**_2020_**<br>**_£_**<br>32,033<br>82,002|
|||114,035<br>40,000<br>798<br>89<br>105<br>3,194<br>-<br>( 1)<br>-<br>23<br>2,700|
|||160,943|



In the prior year grants of £114,035 were made from restricted funds. 

No grants were made to individuals during the year. 

14 



## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **4 Staff costs, trustee remuneration and expenses** 

The charity had no employees during the period (2020: one). 

No employee received remuneration amounting to more than £60,000 in the previous year. No trustees received remuneration or were reimbursed expenses during the year. 

## **5 Net income/(expenditure)** 

|This is stated after charging:<br>Independent examiner's fee<br>**6**<br>**Tangible fixed assets**|**_2021_**<br>**_£_**<br>3,756|**_2020_**<br>**_£_**<br>2,700|
|---|---|---|
||||



|**Cost**<br>At 1 April 2020<br>Disposal<br>At 31 March 2021<br>**Depreciation**<br>At 1 April 2020<br>Disposal<br>At 31 March 2021<br>**Net book value**<br>At 31 March 2021<br>At 31 March 2020|**Office**<br>**equipment**<br>**_£_**<br>1,637<br>( 1,637)|
|---|---|
||-<br>1,637<br>( 1,637)|
||-<br>-|
||-|



15 



## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **7 Fixed asset investments** 

|**Fixed asset investments**||
|---|---|
||**Shares in subsidiary**|
||**undertaking**|
|**Cost and  market value**||
|At 1 April 2020|1|
|Disposal of Investment|( 1)|
|At 31 March 2021|-|



The charity previously held 100% of the issues share capital of I Play for Change Limited, whose registered office was Suite LG, 11 St James's Place, London, SW1A 1NP. The company ceased trading on 22 January 2020 and was subsequently dissolved on 22 June 2021. In the previous year the company's aggregate share capital and reserves was £(48,189) and the loss for the year was £32,098. 

## **8 Debtors** 

|Accrued income and prepayments|**_2021_**<br>**_£_**<br>22<br>22|**_2020_**<br>**_£_**<br>5,829|
|---|---|---|
|||5,829|



## **9 Creditors: amounts falling due within one year** 

|Trade creditors<br>Accruals<br>I Play For Change Limited|**_2021_**<br>**_£_**<br>780<br>3,276<br>-<br>4,056|**_2020_**<br>**_£_**<br>3,609<br>2,700<br>6,648|
|---|---|---|
|||12,957|



16 



## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **10 Movement on funds** 

## **Year to 31 March 2021** 

|**Year to 31 March 2021**|||
|---|---|---|
|General unrestricted fund<br>Restricted funds<br>La Locomotiva Onlus Project|**1 April**<br>**2020**<br>**Income Expenditure**<br>**Transfer**<br>**£**<br>**£**<br>**£**<br>**£**<br>( 11,260)<br>28,540<br>( 17,017)<br>-<br>9,361<br>16,597<br>( 25,958)<br>-<br>( 1,899)<br>45,137<br>( 42,975)<br>-|**31 March**<br>**2021**<br>**£**<br>263<br>-|
|||263|



## **La Locomotiva Onlus Project** 

During the year the Charity received restricted funds totalling £16,597 from UEFA Foundation for Children for the La Locomotiva Onlus Project in Naples. The Charity made a payment to the project of £25,958 during the year (€27,050). The Global Action Nepal project in Lamjung was completed in the year. 

## **Year to 31 March 2020** 

|General unrestricted fund<br>Restricted funds<br>Global Action Nepal - Lamjung<br>La Locomotiva Onlus Project|**1 April**<br>**2019**<br>**Income Expenditure**<br>**Transfer**<br>**_Restated_**<br>**£**<br>**£**<br>**£**<br>**£**<br>( 13,367)<br>81,048<br>( 46,908)<br>( 32,033)<br>-<br>-<br>( 32,033)<br>32,033<br>20,867<br>70,496<br>( 82,002)<br>-<br>7,500<br>151,544<br>( 160,943)<br>-|**31 March**<br>**2020**<br>**£**<br>( 11,260)<br>-<br>9,361|
|---|---|---|
|||( 1,899)|



In the previous year a transfer was made from unrestricted funds to restricted funds for the Global Action Nepal -Lamjung project. The final cost of this prjoject was funded by unrestricted funds. 

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## **PLAY FOR CHANGE** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **11 Analysis of net assets between funds** 

|**Year to 31 March 2021**<br>Net current assets<br>**Year to 31 March 2020**<br>Investments<br>Net current assets|**_2021_**<br>**_2021_**<br>**_Unrestricted_**<br>**_Funds_**<br>**_Restricted_**<br>**_Funds_**<br>263<br>-<br>263<br>-<br>**_2020_**<br>**_2020_**<br>**_Unrestricted_**<br>**_Funds_**<br>**_Restricted_**<br>**_Funds_**<br>1<br>-<br>( 11,261)<br>9,361<br>( 11,260)<br>9,361|**_2021_**<br>**_Total funds_**<br>263|
|---|---|---|
|||263|
|||**_2020_**<br>**_Total funds_**<br>1<br>( 1,900)|
|||( 1,899)|



## **12 Related party transactions** 

Key management personnel include the charity's trustees. No remuneration is paid to the trustees. 

Total donations from trustees were £20,000 (2020: £77,497). 

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