2023-03-31-accounts

Charity number: 1152390

PLAY FOR CHANGE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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 - 21

PLAY FOR CHANGE

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2023

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 2023

The Trustees present their annual report together with the financial statements of Play for Change (the charity) for the year ended 31 March 2023. 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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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

• 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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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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 2023

• ✓ 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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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

• 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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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

VI. 2023 PROJECTS EXTENSION

1. KIFUMPA, Democratic Republic of Congo

The project aims to promote and develop a female football program in order to involve vulnerable girls in educational and sport activities.

2. Lays Replay Naples, Italy

In collaboration with Common Goal and sponsored by Pepsi Group and Uefa Foundation for Children, the project aims to build a new football pitch in a poor suburb of Naples and launch an educational/ football program for the community.

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

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

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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.

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

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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

• § 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 2023, unrestricted income was £22,390 (2022: £12,592). Unrestricted expenditure was £4,450 (2022: £11,957). Restricted income was £67,754 (2022: £451,507). Restricted expenditure was

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

£265,396 (2022: £196,549). The net deficit for the year was £179,702 (2022: surplus of £255,593). Total reserves at the year end were £76,154 (2022: £255,856), £66,714 of this was restricted (2022: £254,958). Unrestricted free reserves at the year-end were £9,440 (2022: £898). 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 the Kifumpa project.

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 2023, unrestricted free reserves were £9,440, 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 2023/24.

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.

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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 13 March 2024 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 2023.

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: 14 March 2024

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

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PLAY FOR CHANGE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note Income from: Grants and donations 2 Bank interest Total income Expenditure on: Charitable activities 3 Total expenditure Net (expenditure) / income Transfers between funds Net movement in funds Reconciliation of funds: Brought forward: As originally stated Prior period adjustment As restated Total funds carried forward 8	2023 2023 2023 Restricted Funds Total funds £ £ £ 22,307 67,754 90,061 83 - 83 22,390 67,754 90,144 4,450 265,396 269,846 4,450 265,396 269,846 17,940 ( 197,642) ( 179,702) ( 9,398) 9,398 - 8,542 ( 188,244) ( 179,702) 898 268,747 269,645 - ( 13,789) ( 13,789) 898 254,958 255,856 9,440 66,714 76,154 Unrestricted Funds	2022 Total funds £ Restated 464,095 4
		464,099
		208,506
		208,506
		255,593 -
		255,593
		263 -
		263
		255,856

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PLAY FOR CHANGE

BALANCE SHEET AS AT 31 MARCH 2023

Note 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	2023 £ 66,746 87,556 154,302 ( 78,148)	2023 £ 76,154 76,154 9,440 66,714 76,154	2022 £ Restated 195,862 74,754 270,616 ( 14,760)	2022 £ Restated 255,856
				255,856
				898 254,958
				255,856

The financial statements were approved by the Trustees on 13 March 2024 and signed on their behalf by:

A. Radrizzani Trustee

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PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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.

1.8 Prior period adjustment

In the prior period the incorrect exchange rate was used to calculate the translation of accrued grant income for the Community Sports Centre Italy and La Pelota de Trapo projects. The effect on the comparatives is to decrease accrued income in debtors, and grant income by £13,789. The effect on opening reserves at 1 April 2022 is a decrease of £13,789.

2 Grants and donations

Grants Donations Donated services	2023 £ 66,714 18,097 5,250 90,061	2022 £ 328,353 129,797 5,945
		464,095

In the previous year restricted grants were received of £451,507 following a restatement as set out on note 1.8

Donated services relate to accountancy fees waived.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3 Expenditure on charitable activities

Grants and donations: La Pelota de Trapo 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 Bank charges Other fundraising costs Volunteer costs Governance costs: Independent examiner's fee	2023 £ 129,428 124,946 5,305 259,679 598 4,923 486 308 124 5,250 ( 5,632) - - - 4,110 269,846	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

In the previous year expenditure of £196,549 was applied from restricted funds.

No grants were made to individuals during the year.

4 Trustee remuneration and expenses

The charity had one employee during the period (2022: one). No employees were paid more than £60,000 (2022: none). No trustees received remuneration or reimbursed expenses during the year.

5	Net income
		2023	2022
		£	£
	This is stated after charging:
	Independent examiner's fee	4,110	3,420

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6 Debtors

Prepayments and accrued income Creditors: amounts falling due within one year Trade creditors Accruals	2023 £ 66,746 66,746 2023 £ 5,045 73,103 78,148	2022 £ 195,862
		195,862
		2022 £ 11,340 3,420
		14,760

7 Creditors: amounts falling due within one year

8 Movement on funds

Current year: Unrestricted funds Restricted funds: Girls United UK Community Sports Centre Italy La Pelota de Trapo Kifumpa	1 April 2022 £ Restated 898 8,400 121,702 124,856 - 255,856	Income £ 22,390 1,040 - - 66,714 90,144	£ ( 4,450) ( 11,022) ( 124,946) ( 129,428) - ( 269,846) Expenditure	Transfers £ ( 9,398) 1,582 3,244 4,572 - -	31 March 2023 £ 9,440 - - - 66,714
					76,154

Girls United UK

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 oversaw this project. This project completed in the year and the transfer relates to the overspend.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

PLAY FOR CHANGE

8 Movement on funds continued

Community Sports Centre Italy

The Charity received a grant from UEFA towards the Community Sport Centre in Italy. Play for Change Srl carried out the project, and during the year the Charity made sub grants of £124,946 to Play for Change Srl for this purpose. This project completed in the year and the transfer relates to the differences in exchange rates over the period of the project.

La Pelota de Trapo

The Charity received a grant 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 and cultural discomfort in the suburbs of major Italian cities. Play for Change Srl carried out the project, and during the year the Charity made sub grants of £129,428 3 to Play for Change Srl for this purpose. The project completed in the year and the transfer relates to the differences in exchange rates over the period of the

j t

Kifumpa

During the year the Charity was entitled to funds totalling £66,714 (€75,000) from UEFA towards the Kifumpa project. Kifumpa is a project aiming to promote and develop a female football program in Lubumbashi, a city in the Democratic Republic of Congo, in order to involve vulnerable girls in educational and sport activities.

Prior year: Unrestricted funds Restricted funds: Girls United UK Community Sports Centre Italy La Pelota de Trapo	1 April 2021 £ 263 - - - 263	Income £ Restated 12,592 123,154 203,497 124,856 464,099	£ ( 11,957) ( 114,754) ( 81,795) - ( 208,506) Expenditure	Transfers £ - - - - -	31 March 2022 £ Restated 898 8,400 121,702 124,856
					255,856

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PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 Analysis of net assets between funds

Net current assets Net current assets	2023 £ 9,440 9,440 2022 £ 898 898 Unrestricted Funds Unrestricted Funds	2023 Restricted Funds £ 66,714 66,714 2022 Restricted Funds £ Restated 254,958 254,958	2023 Total funds £ 76,154
			76,154
			2022 Total funds £ Restated 255,856
			255,856

10 Related party transactions

Key management personnel include the charity's trustees. No remuneration is paid to the trustees. No trustee expenses have been incurred in the current or prior year.

There were donations totalling £17,058 (2022: £109,026) 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 granted £254,374 (2022: £81,795) to Play for Change Srl. At the year end £69,383 (2022: £nil) was outstanding and is included in accruals. Play for Change Srl 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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