2022-03-31-accounts

Charity number: 1152390

PLAY FOR CHANGE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

PLAY FOR CHANGE

CONTENTS

Legal and administrative information	1
Trustees’ Report	2 - 12
Independent examiner’s report	13
Statement of financial activities	14
Balance sheet	15
Notes to the financial statements	16 - 22

PLAY FOR CHANGE

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

Trustees	A. Radrizzani
	D. Menken (resigned 24/10/2022)
	M. Watson (appointed 24/10/2022)
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

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the financial statements of Play for Change (the charity) for the year ended 31 March 2022. 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.

I. 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.

II. 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:

3. breaches of human rights;

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

5. the immediate or continuing effects of lack of natural or other resources; or

6. any other cause of poverty distress or suffering.

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

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

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

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

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

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.

III. 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.

IV. 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

• Maintained a good reputation as a non-profit organization

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

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

• 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 2022, 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.

V. Projects

During the 2021-22 year there were two active projects:

1. GIRLS UNITED UK - The Afghan Women’s Development Football Team:

CONTEXT:

Facing the threat of persecution and death for playing football as a woman, the Afghanistan Women & Development Football Team, supported by Play for Change along with other partners, fled the Taliban regime and made it safely to the UK.

OVERALL OBJECTIVE:

Supporting the Afghan Women's Football Development team during their first year of integration to life in the UK by providing wrap around support to government organisations and maintaining access to a full and rigorous football training programme for the players, as well as supporting the team to playing in a Football League.

MAIN GOALS:

• ✓ Delivering a long-term sustainable programme, offering mental health support, long term accommodation and access to football training

• ✓ Working with educational partners to identify higher education opportunities

• ✓ Securing sufficient football and non-football related employment placement opportunities

• ✓ Providing skills training programs and opportunities, such as training sessions with Premier Leagues Football Clubs, FA coaching courses

2. PELOTA DE TRAPO - football belongs to everyone ( www.pelotadetrapo.it)

CONTEXT:

La Pelota de Trapo is a project promoted by Play for Change in collaboration with Scholas Occurrentes (Pope Francis No profit Foundation), FIGC (Italian Football Association), Cattolica University Milan and other

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

stakeholders, to develop an educational sports program for young girls and women, living in social or cultural discomfort in the suburbs of major Italian cities, through paths of awareness on the values of women's football and of personal growth.

OVERALL OBJECTIVE:

To promote the integral well-being of 120 young girls and women through the dissemination of an authentic football culture, by providing the opportunity to participate in football courses, summer camps, and workshops on active citizenship and personal growth. The project also included a promotional roadshow in schools with sporting ambassadors, a football tournament, and the participation in international events.

MAIN GOALS:

• ✓ To raise community awareness on the values of inclusion and gender equality through football

• ✓ To create opportunities for young girls and women to access the football game overcoming social prejudices

• ✓ To start educational paths of integral growth through football for young girls and women in situations of socio-economic hardship

• ✓ To improve the psycho-physical condition of the participants promoting health and well-being paths

3. COMMUNITY SPORT CENTRE ITALY – Rome; Naples; Palermo

CONTEXT:

A Community Sport Centre develops and operates in contexts characterized by:

• Lack of meeting spaces and public sports facilities

• Limited accessibility to community, training and sports services and activities

• Lack of prospects for social and occupational integration

• School dropout

• Phenomena of exclusion and social marginalization

• Petty crime

• Racial and gender discrimination

OVERALL OBJECTIVE:

To activate 5 aggregative centres, sustainable from an energetical, ecological and economic point of view, promoting territorial regeneration, capable of satisfying the needs of the community, comfortable and safe. A place open to all to offer sportive, recreational, educational, training and social activities aimed at involving young people and the inhabitants of a fragile urban context to create a long-term social impact.

MAIN GOALS:

• ✓ To allow people to get involved, become an active part of the community in favour of an active and positive change

• ✓ To foster the network between third sector entities, associations, foundations, entrepreneurial realities, and institutions to act concretely on the territory at a local level

• ✓ To transfer skills and innovative tools for the integral growth of people

• ✓ To promote the care and commitment of citizens towards their neighbourhood, support social cohesion and the development of an educational community

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

• ✓ To stimulating cross-fertilisation between experiences and local players, encouraging discussion and coplanning

MISSION:

• → Sport accessibility for kids and teenagers

• → Activation of cultural change trend

• → Economic support to sport associations

• → Learning and training courses for coaches

• → Networking against the educational poverty

OUTPUT:

• → Greater involvement of children and families in disadvantaged contexts

• → Inclusion of people with disabilities

• → Refusal of any form of discrimination

• → Support for women's sport

• → Creation of local networks and alliances

• → Promotion health, active citizenship and volunteering paths

IMPACT:

• → Reduction in school dropout rate

• → Greater social integration

• → Job creation

• → Sports material recycling

• → Greater social cohesion

• → Model repeatability

OUR COMMUNITY SPORT CENTERS:

Calcio Sociale, Corviale ROME :

• Network : 1 school, 1 sport association, 2 organisations

• Budget : 150.000 €

• Sport courses : Women Football Academy, Zumba and Karate, Tennis table, Badminton

• Complementary Activities : “Social Sofa”, recovery of abandoned spaces in the neighbourhood

• Summer camp : 10 weeks

• Actual Participants in sport courses : 87

• Instructors : 6 - Social Workers : 4

Yolk, Montepellegrino PALERMO:

• Network : 1 school, 2 sport associations, Municipality of Palermo

• Budget : 198.000 € - Renovation works : 53.000 €

• Sport courses : basket; athletics; taekwondo, volleyball, dance

• Complementary Activities : school support, parenting, listening desk

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

• Summer camp: 4 weeks

• Introduction to sport : 4 classes

• Actual Participants in sport courses : 30

• Instructors : 5 - Social Workers : 2

Jucà pe Cagnà, Sanità NAPLES:

• Network : 2 sport associations, 2 social cooperative, 2 organisations

• Budget : 181.000 € - Renovation works :22.000 €

• Sport courses : karate, artistic gymnastic, tennis table, zumba, samba.

• Complementary Activities : after school, parenting

• Annual Open Day : 2

• Summer camp : 4 weeks

• Introduction to sport : 4 classes

• Actual Participants in sport courses : 70

• Instructors : 4 - Social Workers : 1

Liberi Nantes, Pietralata ROME:

• Network : 1 school, 1 sport association, 1 organisation, 1 parish

• Budget : 106.000 € - Renovation works 18.000 €

• Sport courses : Football, athletics

• Complementary Activities : after school, health promotion, parenting

• Introduction to sport : 2 classes

• Actual Participants in sport courses : 57

• Instructors : 3 - Social Workers : 1

Obiettivo Napoli, Mercato NAPLES:

• Network : 2 sport associations, 1 school

• Budget: 146.000 € - Renovation works : 48.500 €

• Sport courses : postural gymnastics, soccer, taekwondo, volleyball

• Complementary Activities : Digital education for sport, parenting,

• intergenerational dialogue, health promotion, psychologist

• Annual Open Da y: 2

• Summer camp : 4 weeks

• Introduction to sport : 4 classes

• Actual Participants in sport courses : 90

• Instructors : 4 - Social Workers : 3

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

VI. 2023 PROJECTS EXTENSION

1. KETI SAKTI (not confirmed) - Girls United Nepal

Using football as to break down barriers, overcome prejudice and reduce social inequalities, engaging local girls and providing a healthy educational environment to involve them in understanding their own needs and taking active part in better shaping the community

2. VISMARA PLAY CENTER - Milan, Italy (carried out by the Italian Social Enterprise)

A new Sport Community Center in Milan to make sport accessible to children and people living in a difficult neighbourhood, supporting them in the development of life skills and to develop an educating community promoting integration and social cohesion

3. KIFUMPA - Msichana Football Academy, Democratic Republic of Congo

To develop the existing TP Mazembe women's team, creating a movement that can be taken as an example to launch women's football but also improve the women’s quality of life in Congo

VII. AGENDA 2025

By creating collaborative partnerships with our network of partners who share our mission and values, and by fostering communities and young purpose leaders

• → We will meet the needs of the beneficiaries

• → We will deliver sport and educational projects addressing diversity, equity & inclusion

VIII. HOW TO BECOME AN AGENT OF CHANGE

Through our partners network, we offer the tools and support companies need to activate their Corporate Social Responsibility by:

• ✓ Launching international marketing initiatives

• ✓ Promoting awareness campaign

• ✓ Generating impactful stories

• ✓ Ensuring international visibility to projects supported

• ✓ Creating a landing page to promote the campaign

• ✓ Engaging stakeholders and clients

• ✓ Involving testimonials for the campaign

• ✓ Developing a multi-year communication plan

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

PLAY FOR CHANGE

IX. ACTIVATING SOCIAL RESPONSIBILITY

Through the collaboration with the Italian Social Enterprise, we support brands in activating corporate social responsibility campaigns by matching their business strategies with the right initiative, to maximise the brand return and social impact and ensure funding for valuable projects.

The Social Enterprise helps corporate brands in promoting:

• The cause & initiative online, offline and in affiliated stores

• The engagement of its employees, partners and stakeholders

• Social integration policies

X. OUR UNIQUE APPROACH

Leveraging on the experience gained in the management of 10 social projects in 7 countries, in collaboration with Third Sector Entities, Schools, Companies, Institutions and Sports Federations, we develop the culture of operational co-design by enhancing the best practices identified and ensuring:

• A long-term sustainable approach to program development

• An investment to accelerate social innovation processes

• The activation of a prosocial ecosystem

• Optimization of the allocation of funds by ensuring their transparent use

Our aim is to contribute to the social well-being of those who live in contexts of social hardship through longterm partnerships that lead to economically sustainable initiatives of social interest for the local communities in line with the brands strategical goals.

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.

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

1. 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 centres 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

• 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

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

• § 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.

Financial review

In the year ended 31 March 2022, unrestricted income was £12,592 (2021: £28,540). Unrestricted expenditure was £11,957 (2021: £17,017). Restricted income was £465,296 (2021: £16,597). Restricted expenditure was £196,549 (2021: £25,958). The net surplus for the year was £269,382 (2021: £2,162). Total reserves at the year end were £269,645 (2021: £263), £268,747 of this was restricted (2021: £nil). Unrestricted free reserves at the year-end were £898 (2021: £263). The trustees confirm that sufficient cash reserves continue to be maintained to meet the Trust’s obligations.

Restricted funds at the year end relate to funds received towards Girls United UK, Community Sports Centre Italy and La Pelota De Trapo, as set out in note 8 of the accounts.

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 2022, unrestricted free reserves were £898, however, since the charity has the continued support of Andrea Radrizzani and the fact that most expenditure is restricted, the trustees consider that there are sufficient funds for 2022/23.

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;

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

• 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 16 February 2023 and signed on their behalf by:

A Radrizzani Trustee

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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 2022.

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

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 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 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: 16 February 2023

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

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Notes Income from: Donations 2 Bank interest Total income Expenditure on: Charitable activities 3 Total expenditure Net income and net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 8	2022 2022 2022 Unrestricted Funds Restricted Funds Total funds £ 12,588 465,296 477,884 4 - 4 12,592 465,296 477,888 11,957 196,549 208,506 11,957 196,549 208,506 635 268,747 269,382 263 - 263 898 268,747 269,645	2021 Total funds £ 45,119 18
		45,137
		42,975
		42,975
		2,162
		( 1,899)
		263

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BALANCE SHEET AS AT 31 MARCH 2022

Notes Current assets Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total net assets Charity funds Unrestricted funds Restricted funds Total funds 8	2022 £ 209,651 74,754 284,405 ( 14,760)	2022 £ 269,645 269,645 898 268,747 269,645	2021 £ 22 4,297 4,319 ( 4,056)	2021 £ 263
				263
				263 -
				263

The financial statements were approved by the Trustees on 16 February 2023 and signed on their behalf, by:

A. Radrizzani Trustee

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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.

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. 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. Donated services are recognised at the value of the fees waived.

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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1.5 Resources expended continued

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 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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2 Donations

Donations
Donations Grants Donated services In the previous year restricted grants were received of £16,597. Donated services relate to accountancy fees waived.	2022 £ 129,797 342,142 5,945 477,884	2021 £ 22,455 16,597 6,067
		45,119

3 Expenditure on charitable activities

Expenditure on charitable activities
Grants and donations: Global Action Nepal - Khelaun Khelaun Community Sport Centre Italy Girls United UK Direct costs: Travel and meeting costs Wages and salaries Employer's National Insurance Employer's pension costs Support costs: Insurance Accountancy fees Exchange rate variance Disposal of investment Bank charges Other fundraising costs Volunteer costs Governance: Independent examiner's fee	2022 £ - 81,795 100,379 182,174 7,188 9,808 921 611 109 5,945 ( 2,189) - 76 263 180 3,420 208,506	2021 £ 9,233 25,958 -
		35,191 - - - - 90 6,067 ( 2,130) 1 - - - 3,756
		42,975

In the previous year grants of £25,958 were made from restricted funds.

No grants were made to individuals during the year.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

PLAY FOR CHANGE

4 Trustee remuneration and expenses

The charity had 1 employee during the period (2021: none). No employees were paid more than £60,000 (2021: none). No trustees received remuneration or were reimbursed expenses during the year.

5 Net income

5 Net income
This is stated after charging: Independent examiner's fee 6 Debtors Accrued income and prepayments 7 Creditors: amounts falling due within one year Trade creditors Accruals	2022 £ 3,420 2022 £ 209,651 209,651 2022 £ 11,340 3,420 14,760	2021 £ 3,756
		2021 £ 22
		22
		2021 £ 780 3,276
		4,056

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8 Movement on funds

Year to 31 March 2022

General unrestricted fund Restricted funds Girls United UK Community Sports Centre Italy La Pelota de Trapo	1 April 2021 Income Expenditure Transfer £ £ £ £ 263 12,592 ( 11,957) - - 123,154 ( 114,754) - - 211,983 ( 81,795) - - 130,159 - - 263 477,888 ( 208,506) -	31 March 2022 £ 898 8,400 130,188 130,159
		269,645

Girls United UK

During the year the Charity received restricted funds for Girls United UK. These funds were given to enable The Afghan Women's Development Football Team to flee the Taliban regime and settle in the UK. The costs in the year relate to the travel costs to bring the team to the UK as well as the employment costs of the Project Manager who is overseeing this project.

Community Sports Centre Italy

During the year the Charity was entitled to funds totalling £211,983 (€240,000) from UEFA towards the Community Sport Centre in Italy. Of this amount £82,985 had been received and the remainder is accrued, as shown in debtors. Play for Change Srl will be carrying out the project on their behalf, and during the year the charity transferred over £81,795. When the remaining funds are received from UEFA these will also be transferred to Play for Change Srl. The project is detailed in the trustees' report.

La Pelota de Trapo

During the year the charity was entitled to funds totalling £130,159 (€150,000) from UEFA towards the project La Pelota de Trapo. La Pelota de Trapo is a project for the development and implementation of an educational sports programme for girls, between 9 and 16 years old, living in contexts of social andcultural discomfort in the suburbs of major Italian cities. Of the total grant expected, £49,536 was received in the year, with the balance accrued, as shown in debtors. Play for Change Srl will be carrying out the project on their behalf and therefore transfers will be made to this organisation over the next two financial years.

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PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8 Movement on funds continued

Year to 31 March 2021

General unrestricted fund Restricted funds Community Sports Centre Italy	1 April 2020 Income Expenditure Transfer Restated £ £ £ £ ( 11,260) 28,540 ( 17,017) - 9,361 16,597 ( 25,958) - ( 1,899) 45,137 ( 42,975) -	31 March 2021 £ 263 -
		263

9 Analysis of net assets between funds

Year to 31 March 2022 Net current assets Year to 31 March 2021 Net current assets	2022 2022 Unrestricted Funds Restricted Funds 898 268,747 898 268,747 2021 2021 Unrestricted Funds Restricted Funds 263 - 263 -	2022 Total funds 269,645
		269,645
		2021 Total funds 263
		263

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

PLAY FOR CHANGE

10 Related party transactions

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

There were no donations from trustees in the year (2021: £20,000).

There were donations totalling £109,026 (20221: £nil) from Aser Media Limited during the year. The chair of Play for Change, Andrea Radrizzani, is the Ultimate Beneficial Owner of the company.

During the year the charity transferred £81,795 to Play for Change Srl. This is a social enterprise which is owned by Aser Media Srl, which is a subsidiary of Aser Media Limited. As set out above Andrea Radrizzani is the Ultimate Beneficial Owner.

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