Charity registration number: 1152390
PLAY FOR CHANGE
Annual Report and Financial Statements for the Year Ended 31 March 2025
PLAY FOR CHANGE
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
PLAY FOR CHANGE
| Reference and Administrative Details | |
|---|---|
| Trustees | A Radrizzani |
| L A Chan | |
| MC Watson | |
| Charity Registration Number | 1152390 |
| Principal Office | Suite LG |
| 11 St James's Place | |
| London | |
| SW1A 1NP | |
| Independent Examiner | DTL Advisory limited |
| Certified Chartered Accountants | |
| 5th Floor, North Side | |
| 7-10 Chandos Street | |
| London | |
| United Kingdom | |
| W1G 9DQ | |
| Bankers | HSBC Bank plc |
| 79 Piccadilly | |
| London | |
| W1J 8EU | |
| Accountants | DTL Advisory Limited |
| 5th floor, North Side | |
| 7/10 Chandos Street | |
| Cavendish Square | |
| W1G 9DQ |
Page 1
PLAY FOR CHANGE
Trustees' Report
The Trustees present their annual report together with the financial statements of Play for Change (the charity) for the year ended 31 March 2025. 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)).
Reference and administrative details
Play for Change is a charitable trust registered with the Charity Commission for England and Wales (charity number 1152390).
The Trustees who served during the year are shown on page (1) of the financial statements.
Structure, governance and management
The charity is governed by its Trust Deed dated 12 March 2013 and is administered by the Trustees, who are responsible for the strategic direction and management of the charity.
There were no changes to the governing document during the year.
Objectives and activities
The charitable objects of Play for Change remain unchanged from prior years and are set out in the Trust Deed. They relate primarily to the promotion of sport, education and social inclusion for children and young people living in disadvantaged or vulnerable circumstances.
Activities and achievements during the year
During the year ended 31 March 2025, the charity did not undertake any new charitable activities. The Trustees had previously resolved that Play for Change would cease operations, following the completion of its existing projects in the prior year.
The charity therefore focused solely on:
-
settling outstanding liabilities,
-
finalising administrative matters, and
-
arranging for the orderly transfer of remaining funds in accordance with the charity’s objects.
Cessation of activities and transfer of funds
Following the settlement of all known liabilities, the Trustees resolved to transfer the remaining unrestricted funds of the charity to Play for Change Impresa Sociale Srl, a non-profit organisation that has been a long-standing delivery partner and project manager for the charity since 2020, and whose activities align closely with the charitable purposes of Play for Change.
At 31 March 2025, the charity held net assets of £4,622, represented by amounts receivable less outstanding accruals. These balances were realised and settled shortly after the year end. The remaining funds were transferred in full subsequent to the year end.
The Trustees are satisfied that:
-
the funds transferred were unrestricted funds;
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the transfer was made in furtherance of the charity’s objects; and
-
the transfer was carried out in accordance with Charity Commission guidance.
Page 2
PLAY FOR CHANGE
Trustees' Report (continued)
Following the realisation of remaining assets and the transfer of funds after the year end, the charity has ceased operations and the Trustees intend to proceed with the formal closure of the charity.
Financial review
The financial statements for the year show the final movement of funds and the position of the charity immediately prior to closure.
The Trustees confirm that all material liabilities have been settled and that no further commitments remain outstanding at the year end.
Reserves policy
As the charity has ceased operations and transferred its remaining funds during the year, a reserves policy is no longer applicable.
Going concern
The Trustees have prepared the accounts on a non-going concern basis , as the charity ceased activities during the year and intends to close following the completion of statutory and regulatory requirements.
Responsibilities of the Trustees
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 which give a true and fair view of the charity’s financial activities and financial position at the end of the year. In preparing the financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on an appropriate basis.
The Trustees are responsible for keeping adequate accounting records and for safeguarding the assets of the charity.
The annual report was approved by the trustees of the charity on 11 February 2026 and signed on its behalf by:
......................................... A Radrizzani Trustee
Page 3
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 for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of PLAY FOR CHANGE you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the PLAY FOR CHANGE'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:
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accounting records were not kept in respect of PLAY FOR CHANGE as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Massimo Della Bruna FCCA Certified Chartered Accountants ACCA
5th Floor, North Side 7-10 Chandos Street London United Kingdom W1G 9DQ
11 February 2026
Page 4
PLAY FOR CHANGE
Statement of Financial Activities for the Year Ended 31 March 2025
| Note Income and Endowments from: Grants and Donations Bank Interests Total income Expenditure on: Charitable activities Total expenditure Net expenditure Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 8 Note Income and Endowments from: Grants and Donations Bank Interests Total income Expenditure on: Charitable activities Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 8 |
Unrestricted funds £ 1,298 252 1,550 (3,477) (3,477) (1,927) (432) (2,359) 6,981 4,622 Unrestricted funds £ 3,820 547 4,367 (6,826) (6,826) (2,459) (2,459) 9,440 6,981 |
Restricted funds £ 24,603 - 24,603 (52,855) (52,855) (28,252) 432 (27,820) 27,820 - Restricted funds £ 53,732 - 53,732 (92,627) (92,627) (38,895) (38,895) 66,714 27,819 |
Total 2025 £ 25,901 252 |
|---|---|---|---|
| 26,153 | |||
| (56,332) | |||
| (56,332) | |||
| (30,179) - |
|||
| (30,179) 34,801 |
|||
| 4,622 | |||
| Total 2024 £ 57,552 547 |
|||
| 58,099 | |||
| (99,453) | |||
| (99,453) | |||
| (41,354) | |||
| (41,354) 76,154 |
|||
| 34,800 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 8.
The notes on pages 7 to 11 form an integral part of these financial statements. Page 5
PLAY FOR CHANGE
(Registration number: 1152390) Balance Sheet as at 31 March 2025
| Note Current assets Debtors 6 Cash at bank and in hand Creditors: Amounts falling due within one year 7 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 8 |
2025 £ 7,622 - 7,622 (3,000) 4,622 - 4,622 4,622 |
2024 £ 27,820 12,416 |
|---|---|---|
| 40,236 (5,436) |
||
| 34,800 | ||
| 27,819 6,981 |
||
| 34,800 |
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on 11 February 2026 and signed on their behalf by:
......................................... A Radrizzani Trustee
The notes on pages 7 to 11 form an integral part of these financial statements. Page 6
PLAY FOR CHANGE
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
PLAY FOR CHANGE meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The Trustees acknowledge that the charity has ceased operations and intends to close. As a result, the financial statements have not been prepared on a going concern basis. The Trustees are satisfied that all liabilities have been settled and that assets have been realised appropriately.
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.
Resources expended
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be measured or estimated reliably.
Grants payable are recognised when the offer is made except in those cases where the offer is conditional and payment is possible but not probable, such grants being recognised as expenditure when the conditions attaching are likely to be fulfilled. Grants offered subject to conditions where payment is possible but not probable are noted as a commitment, but not accrued as expenditure.
Support costs are those costs incurred in support of expenditure on the objects of the charity.
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.
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PLAY FOR CHANGE
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Grants, including capital grants; Grants from other charities Total for 2025 Total for 2024 Donations and legacies; Donations from companies, trusts and similar proceeds Grants, including capital grants; Grants from other charities |
Unrestricted funds General £ 1,298 - 1,298 3,820 Unrestricted funds General £ 3,820 - 3,820 |
Restricted funds £ - 24,603 24,603 53,732 Restricted funds £ - 53,732 53,732 |
Total funds £ 1,298 24,603 |
|---|---|---|---|
| 25,901 | |||
| 57,552 | |||
| Total 2024 £ 3,820 53,732 |
|||
| 57,552 |
3 Expenditure on charitable activities
| Note Kifumpa Lay's Replay Programme Governance costs |
Unrestricted funds General £ - - 3,477 3,477 |
Restricted funds £ 38,042 14,813 - 52,855 |
Total 2025 £ 38,042 14,813 3,477 56,332 |
Total 2024 £ 53,874 38,753 6,826 |
|---|---|---|---|---|
| 99,453 |
Page 8
PLAY FOR CHANGE
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
Governance costs
| Insurance Accountancy fees Independent examiner's fee Foreign currency (gains)/losses |
2025 £ (139) (200) (2,500) (638) (3,477) |
2024 £ (178) (3,640) (4,200) 1,192 (6,826) |
|---|---|---|
4 Trustees remuneration and expenses
The charity had no employees during the period (2023: one). No employees were paid more than £60,000 (2024: none). No trustees received remuneration or reimbursed expenses during the year.
5 Independent examiner's remuneration
| 5 Independent examiner's remuneration |
||
|---|---|---|
| Examination of the financial statements 6 Debtors Accrued income Other debtors 7 Creditors: amounts falling due within one year Other creditors Accruals |
2025 £ 2,500 2025 £ - 7,622 7,622 2025 £ - 3,000 3,000 |
2024 £ 4,200 |
| 2024 £ 27,820 - |
||
| 27,820 | ||
| 2024 £ 1,236 4,200 |
||
| 5,436 |
Page 9
PLAY FOR CHANGE
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
8 Funds
| Unrestricted funds General Restricted funds Total funds Unrestricted funds General Restricted funds Total funds |
Balance at 1 April 2024 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2025 £ 6,981 1,550 (3,477) (432) 4,622 27,820 24,603 (52,855) 432 - 34,801 26,153 (56,332) - 4,622 Balance at 1 April 2023 £ Incoming resources £ Resources expended £ Balance at 31 March 2024 £ 9,440 4,367 (6,826) 6,981 66,714 53,732 (92,627) 27,819 76,154 58,099 (99,453) 34,800 |
Balance at 1 April 2024 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2025 £ 6,981 1,550 (3,477) (432) 4,622 27,820 24,603 (52,855) 432 - 34,801 26,153 (56,332) - 4,622 Balance at 1 April 2023 £ Incoming resources £ Resources expended £ Balance at 31 March 2024 £ 9,440 4,367 (6,826) 6,981 66,714 53,732 (92,627) 27,819 76,154 58,099 (99,453) 34,800 |
Balance at 31 March 2025 £ 4,622 - |
|---|---|---|---|
| 4,622 | |||
| 34,800 |
The specific purposes for which the funds are to be applied are as follows:
Lay's Replay Programme:
The Charity has received a grant from Common Goal totalling £38,752. This grant is to enable the implementation of sustainable 'football for good' programmes on a newly constructed 5-a side artificial turf football pitch in Naples, Italy, to support youth welfare and development cooperation. This project is being undertaken by Play for Change Impresa Sociale Srl and sub grants of £14,813 were made in the year.,
Kifumpa:
In the previous year the Charity was entitled to funds totalling £53,874 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 Impresa Sociale Srl and sub grants of £38,042 were made in the year.
9 Analysis of net assets between funds
| Current assets Current liabilities Total net assets |
Unrestricted funds General £ 7,622 (3,000) 4,622 |
Total funds at 31 March 2025 £ 7,622 (3,000) |
|---|---|---|
| 4,622 |
Page 10
PLAY FOR CHANGE
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
| Current assets Current liabilities Total net assets |
Unrestricted funds General £ 40,236 (5,436) 34,800 |
Total funds at 31 March 2024 £ 40,236 (5,436) |
|---|---|---|
| 34,800 |
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.
During the year the charity granted £52,855 (2024: £92,626) to Play for Change Impresa Sociale Srl. At the year end there was an other debtor balance of £7,622 (2024: £1,235Cr). Play for Change Impresa Sociale 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.
Page 11