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← Play For Change

2024-03-31-accounts

Charity number: 1152390

PLAY FOR CHANGE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

PLAY FOR CHANGE

CONTENTS

Legal and administrative information 1
Trustees’ Report 2 - 9
Independent examiner’s report 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 18

PLAY FOR CHANGE

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024

Trustees A. Radrizzani
M. Watson
L. Chan (appointed 1 May 2024)
Charity registered number 1152390
Principal office Suite LG
11 St James's Place
London
SW1A 1NP
Independent examiner James Mathieson FCA
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 2024

The Trustees present their annual report together with the financial statements of Play for Change (the charity) for the year ended 31 March 2024. 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 2024

The charity achieves its objectives by:

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.

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:

Results achieved:

3

PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

During the year ended 31 March 2024, the charity has continued to deliver sustainable sport initiatives by:

V. Projects

During the 2023-24 year there were the following projects active:

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

CONTEXT:

Working with a Community Sport Centre which operates in an area with:

OVERALL OBJECTIVE:

The goal is to activate five integrated centers that are sustainable from an environmental, economic, and energy perspective. These centers will promote territorial regeneration and meet the diverse needs of the local community, providing spaces that are both comfortable and safe. Designed to be inclusive and accessible, they will offer a wide range of sports, recreational, educational, training, and social activities. The focus will be on engaging young people and residents of vulnerable urban areas, fostering long-term social impact and strengthening community legacy.

MAIN GOALS:

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

MISSION:

OUTPUT:

IMPACT:

OUR COMMUNITY SPORT CENTERS:

Calcio Sociale, Corviale ROME :

Yolk, Montepellegrino PALERMO:

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Jucà pe Cagnà, Sanità NAPLES:

Liberi Nantes, Pietralata ROME:

Obiettivo Napoli, Mercato NAPLES:

2. KIFUMPA, Democratic Republic of Congo

The KIFUMPA project was launched in January 2023, along with a series of actions (coaches training, proximity campaign, summer camps, community events, pre-academy) intended to strengthen the activities carried out by the local partner, using the catalyst power of football as a tool for the reduction of educational poverty and gender inequality. The project, sponsored by the UEFA Foundation, aims to promote and develop a female football program for 50 vulnerable girls in order to involve them in educational and sport

6

PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

activities. The project takes place in Lubumbashi, the 2nd largest city and mining capital of the Democratic Republic of Congo.

3. Lays Replay Naples, Italy

In collaboration with Common Goal and with the sponsorship from 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. The LAY'S RePlay project was launched in Scampia in October 2023, to foster circular economy and a recycling culture, by transforming empty crisp packets into a state-of-the art football pitch, as well as to use the positive power of play and football to address social issues impacting the local community.

The project foresees 2 main actions:

The project takes place in Scampia, one of the most deprived areas of Naples, characterised by high density of population and high rate of social inequality, early school dropout, lack of social, cultural and sports facilities. After having experienced a long period of degradation due to the presence of criminal organisations, the Scampia neighbourhood, has been going through a phase of great rebirth for some years. The recovery and activation of the "Scampia Stadium" facility through the Lay's RePlay project represents, therefore, not only an operation of notable social and sporting impact for the benefit of the young people of the Municipality, but also a further strong signal of civil and cultural relaunch of the area.

VI. Agenda 2025

Our vision is to build meaningful, collaborative partnerships with organisations and individuals who share our commitment to creating positive change. Through these alliances, we aim to support and empower communities, especially by nurturing young leaders who are driven by purpose. By working together, we will:

VII. Our unique approach

Leveraging on the experience gained in the management of 10 social projects in 7 countries, in collaboration with Non-profit entities, schools, companies, institutions and sports federations, we develop the culture of operational co-design by enhancing the best practices identified and ensuring:

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

VIII. Collaboration with Play for Change Social Enterprise Italy

Play for Change Social Enterprise Italy: set up in January 2020, owned 100% by Aser Media Italia, was registered under the Italian Register of Non-profit Organizations, with the mission to support greater social equity and longterm sustainability to local communities by delivering innovative social projects and consultancy to both NGOs, corporations and public institutions. The social enterprise has been appointed as project manager for the UK Charitable Trust, in particular for the Italian based projects and for the one in the DRCongo, working closely with all the local associations in order to deliver, monitor and evaluate the funded projects.

Main areas of actions:

1. Sport for Sustainable Development

The social company operates along with an anonymous UK 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

Promote the sustainable development by offering a supportive and strengthening digital platform to non- profit associations and companies.

3. Business Consulting

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

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

5. Values:

Financial review

In the year ended 31 March 2024, unrestricted income was £4,367 (2023: £22,390). Unrestricted expenditure was £6,826 (2023: £4,450). Restricted income was £53,732 (2023: £67,754). Restricted expenditure was £92,626 (2023: £265,396). The net deficit for the year was £41,353 (2023: deficit of £179,702). Total reserves at the year end were £34,801 (2023: £76,154), £27,820 of this was restricted (2023: £66,714). Unrestricted free reserves at the year-end were £6,981(2023: £9,440). The trustees confirm that sufficient cash reserves continue to be maintained to meet the Trust’s obligations.

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PLAY FOR CHANGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Restricted funds at the year end relate to funds received towards the Kifumpa project and the Lay’s Replay Programme.

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 £5,000 unrestricted funds. The trustees review the reserves policy each year and in doing so consider the expected costs for the year ahead.

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:

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 28 January 2025 and signed on their behalf by:

A Radrizzani Trustee

9

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 2024.

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: 29 January 2025

James Mathieson FCA Lindeyer Francis Ferguson Limited Chartered Accountants North House 198 High Street Tonbridge Kent TN9 1BE

10

PLAY FOR CHANGE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Grants and donations
2
Bank interest
Total income
Expenditure on:
Charitable activities
3
Total expenditure
Reconciliation of funds:
Brought forward:
Total funds carried forward
8
Net expenditure and net movement in funds		 2024
2024
2024
Restricted
Funds
Total
funds
£
£
£
3,820
53,732
57,552
547
-
547
4,367
53,732
58,099
6,826
92,626
99,452
6,826
92,626
99,452
( 2,459)
( 38,894)
( 41,353)
9,440
66,714
76,154
6,981
27,820
34,801
Unrestricted
Funds		 2023
Total
funds
£
90,061
83
90,144
269,846
269,846
( 179,702)
255,856
76,154

11

PLAY FOR CHANGE

BALANCE SHEET AS AT 31 MARCH 2024

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		 2024
£
27,820
12,416
40,236
( 5,435)		 2024
£
34,801
34,801
6,981
27,820
34,801		 2023
£
66,746
87,556
154,302
( 78,148)		 2023
£
76,154
76,154
9,440
66,714
76,154

The financial statements were approved by the Trustees on 28 January 2025 and signed on their behalf by:

A. Radrizzani Trustee

12

PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

13

PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

2 Grants and donations

Grants
Donations
Donated services		 2024
£
53,732
180
3,640
57,552		 2023
£
66,714
18,097
5,250
90,061

In the previous year restricted grants were received of £67,754. Donated services relate to accountancy fees waived.

14

PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3 Expenditure on charitable activities

Grants and donations:
La Pelota de Trapo
Community Sport Centre Italy
Girls United UK
Lay's Replay Programme
Kifumpa
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
Governance costs:
Independent examiner's fee		 2024
£
-
-
-
38,752
53,874
92,626
-
-
-
-
178
3,640
( 1,192)
4,200
99,452		 2023
£
129,428
124,946
5,305
-
-
259,679
598
4,923
486
308
124
5,250
( 5,632)
4,110
269,846

In the previous year expenditure of £265,396 was applied from restricted funds.

No grants were made to individuals during the year.

4 Trustee remuneration and expenses

The charity had no employees during the period (2023: one). No employees were paid more than £60,000 (2023: none). No trustees received remuneration or reimbursed expenses during the year.

5 Net expenditure

2024 2023
£ £
This is stated after charging:
Independent examiner's fee 4,200 4,110

15

PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6 Debtors

Prepayments and accrued income
Creditors: amounts falling due within one year
Trade creditors
Accruals		 2024
£
27,820
27,820
2024
£
1,235
4,200
5,435		 2023
£
66,746
66,746
2023
£
5,045
73,103
78,148

7 Creditors: amounts falling due within one year

8 Movement on funds

Current year:
Unrestricted funds
Restricted funds:
Lay's Replay Programme
Kifumpa		 1 April
2023
£
9,440
-
66,714
76,154		 Income
£
4,367
53,732
-
58,099		 £
( 6,826)
( 38,752)
( 53,874)
( 99,452)
Expenditure		 Transfers
£
-
-		 31 March
2024
£
6,981
14,980
12,840
34,801

Lay's Replay Programme

The Charity has received a grant from Common Goal totalling £53,732 (€62,120). This grant is to enable the implementation of sustainable 'football for good' programmes on a newly constructed 5-aside artificial turf football pitch in Naples, Italy, to support youth welfare and development cooperation. This project is being undertaken by Play for Change Italy Srl and sub grants of £38,752 were made in the year.

16

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

PLAY FOR CHANGE

8 Movement on funds continued

Kifumpa

In the previous 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. This project is being undertaken by Play for Change Srl and sub grants of £53,874 were made in the year.

Girls United UK

This project completed in the previous 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 transfer related to the overspend.

Community Sports Centre Italy

This project completed in the previous year. The Charity had received a grant from UEFA towards the Community Sport Centre in Italy. Play for Change Srl carried out the project, and in the previous year the Charity made sub grants of £124,946 to Play for Change Srl for this purpose.

La Pelota de Trapo

This project completed in the previous year. The Charity received a grant from UEFA towards the project La Pelota de Trapo. La Pelota de Trapo was 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 in the prior year the Charity made sub grants of £129,428 to Play for Change Srl for this purpose.

Prior year:
Unrestricted funds
Restricted funds:
Girls United UK
Community Sports
Centre Italy
La Pelota de Trapo
Kifumpa		 1 April
2022
£
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

17

PLAY FOR CHANGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9 Analysis of net assets between funds

Net current assets
Net current assets		 2024
£
6,981
6,981
2023
£
9,440
9,440
Unrestricted
Funds
Unrestricted
Funds		 2024
Restricted
Funds
£
27,820
27,820
2023
Restricted
Funds
£
66,714
66,714		 2024
Total
funds
£
34,801
34,801
2023
Total
funds
£
76,154
76,154

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 £Nil (2023: £17,058) 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 £92,626 (2023: £254,374) to Play for Change Srl. At the year end there was a trade creditor balance of £1,235 (2023: £1,235) and an accruals balance of £nil (2023: £69,383). 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.

18