Registered number: 08521118 Charity number: 1153429
Women's Sport Trust
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements for the year ended 31 May 2023
Women's Sport Trust
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 17 |
Women's Sport Trust
(A company limited by guarantee)
Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 May 2023
Trustees
Susan Anstiss (Resigned 8 May 2023) Susan Day Tamsin Parlour, Chair Susannah Levy Michael Inpong Laura Weston Chris Hurst Claire Bennett Sharpington Zarah Al-Kudcy Ben Smith Ugochukwu Monye
Company registered number
08521118
Charity registered number
1153429
Registered office
75 Ravensbury Road London SW18 4RX
Accountants
Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA
Bankers
TSB Bank plc 120 George Street Edinburgh EH2 4LH
Independent Examiner
Susan Robinson BA FCA FCIE DChA Kreston Reeves LLP 2nd Floor 168 Shoreditch High Street London E1 6RA
Page 1
Women's Sport Trust
(A company limited by guarantee)
Trustees' report for the year ended 31 May 2023
The Trustees (who are also Directors of the Charity for the purposes of the Companies Act) present their annual report together with the financial statements of the Women's Sport Trust ('the Charity') for the year ended 31 May 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 the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.
Objectives and activities
a. Policies and objectives
Purpose
WST exists to increase the visibility and impact of women’s sport to not only inspire participation and interest, but, crucially, to make it more commercially viable. Sport is one of the most important public arenas we have – which means that it has a responsibility to reflect the best version of society. WST wants an industry with strong allyship that actively demonstrates that it values women and girls; where strong, diverse female role models are highly visible; and where systems enable diverse talent to get access, opportunity, development, and profile. WST takes the actions necessary to establish a women’s sport ecosystem that is bold, unapologetic, and independently successful on its own terms. We want women’s sport to grow diverse audiences, attract brands based on its distinctive appeal, be fully representative of women and girls in our society and align purpose and profit.
WST’s stated strategic purpose reads:
“To raise the visibility and increases the impact of women’s sport through the promotion of diverse athlete role models, increasing media coverage and improving the funding landscape. We use the power of sport to accelerate gender equality and stimulate social change.”
Strategy
There are several strands to the WST strategy. Our VISIBILITY RESEARCH uses data and insights as a catalyst to promote development by providing practical guidance to enable the industry to mature. In the last financial year we have worked with a number of partners to help them better understand their audiences and where the commercial opportunities within those audiences, lie.
Strategic aims
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Create a diverse range of role models for women's sport across a broad range of platforms.
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Connect and influenced decision-makers to encourage their support of women’s sport.
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Stimulate increased investment into women’s sport.
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Generate opportunities for women’s sport to promote gender equality within/beyond sport.
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Generate and share Insights about the impact and visibility of women's sport.
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Establish WST as influential role model with infrastructure and funding to sustain its impact.
Each of these aims take us a step closer to reaching our stated purpose, either by creating and promoting visible and recognisable role models, or by influencing those with decision making power to not only discuss the issue of gender inequality, but to do something about it.
Page 2
Women's Sport Trust (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 May 2023
Achievements and performance
a. Summary of main achievements and difference made to beneficiaries
In each of our activities we created tangible benefits. Our data driven insights and reports are about bringing leaders and decision makers together in huge numbers to strengthen the women’s sport ecosystem, as well as helping to identify problems in order to drive action. Everything we do, is designed to help WST further our purpose as a charity and increase the visibility and viability of women’s sport across the board.
b. Activities
WST has grown considerably since we set up in 2012 in terms of people, ambitions and income. We have a strong reputation, a good range of contacts / leads and considerable industry support. We are not a typical charity with a typical fundraising profile – we are more corporate in our style, our aims and our appeal – with a particular fit to businesses and individuals who are interested in diversity and inclusion generally, and gender equality specifically. Over the past 3 years our visibility research has developed our identity in the data and research space. It has also begun attracting consultancy and research projects providing a new potential source of income for WST. With the visibility and profile of women’s sport rising, more brands/organisations are looking to be aligned with women’s sport – meaning opportunities are increasing, as is competition. Over the past decade WST has experienced significant growth and for many years been seen as one of the leading women’s sport organisation in the UK. In the early years WST funding came from a blend of public funding, corporate sponsorship of our Awards and events and high net worth donor contributions. Sport England’s decision to shift from project funding WST to core funding in 2019 was a gamechanger for our organisation. The support enabled us to not only survive, but ultimately to increase our impact and thrive. That said, we are currently heavily reliant on Sport England funding and our infrastructure doesn’t allow us to support commercial development or secure ourselves as a sustainable organisation without Sport England backing. Our Sport England grant currently supports core costs of £150K per annum. Over the next period our goal is to build our financial capability and reduce the reliance on Sport England funding.
Unlocked 4
WST decided against running Unlocked 4 as an automatic continuation of our very successful athlete and mentor led programme. The team spent time thinking about how we could better harness the power of the Unlocked alumni and work has continued on strategizing as to what the next chapter might look like for Unlocked. We are currently working with UK Sport, who have committed £20,000 to the first part of our project, to better understand how to corral the power of our athlete community. WST is a dynamic, innovative, and progressive organization that is action oriented. Events such as Unlocked, as well as the research projects conducted with agencies such as Two Circles and Futures, not only convene leaders, but build an evidencebased picture about growth patterns & obstacles. We hosted a series of online webinars that have brought the industry together and produced insights to help encourage real development and assist decision makers with seeing opportunities that might otherwise struggle to see themselves.
Visibility Uncovered Research
Throughout the year, we conducted a number of research reports into the visibility of women’s sport. We worked with the All-England Lawn Tennis Club at Wimbledon, we are working with the RFU and O2, as well as partners such as Meta to help them better understand the opportunity and the audience following women’s sport. Each of our activities and events not only further our purpose of creating visibility but also push the discussion on around viability, which filters down to ultimately benefit women in the wider public who are either looking for a career in elite sport or in an associated industry such as the media or governance. We take seriously the Charity Commission’s guidance on public benefit and keep it at the forefront of our thinking in each of the activities we undertake.
Page 3
Women's Sport Trust (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 May 2023
Financial review
a. Financial Review
In this financial year, our funding from Sport England was supported by our work with partners. Overall, the financial position of the Charity was a £44,608 surplus, meaning we are able to carry forward funds into 2023/2024 to cover any immediate cost requirements, totaling to £125,807, all of which are held in unrestricted reserves. A further tranche of Sport England funding is due to arrive in November.
b. Reserves policy
In September 2015, the WST earmarked that the Charity should always aim to hold at least a sum of £4,000 in unrestricted general reserves. This has been reviewed by the Trustees and is still felt to be an appropriate amount.
c. Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
WST has been fortunate to have been somewhat protected because of its funding arrangement with Sport England, which is guaranteed for two years and almost certain to be extended. Outside of that funding, the Charity’s reserves mean it is able to continue to operate going forward.
Structure, governance and management
a. Constitution
The Charity is registered as a charitable company limited by guarantee and was set up by a Trust Deed on 9 May 2013 as amended by special resolution on 12 August 2013. The principal object of the Charity is to identify and promote a diverse range of role models, increase the percentage and quality of women’s sport coverage across platforms and find ways to shift the funding landscape for women’s sport.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed.
Page 4
Women's Sport Trust (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 May 2023
Structure, governance and management (continued)
c. Organisational structure and decision-making policies
WST is a registered charity and company limited by guarantee and has complied with all reporting requirements since 2013. WST is run by an operational Board of a maximum of 15 Trustees and a minimum of 3 Trustees.
The Board manages WST business by monthly telephone conferences, a minimum of quarterly board and working group meetings and an AGM. WST also utilises an on-line project management system to provide information, hold discussions and to manage individual projects.
Day to day operational management of activities is undertaken by a “Hub”, comprising a CEO who is supported by a small, flexible team, some of whom are also Trustees. This arrangement, including payment to these individuals, is reviewed regularly, and signed off by the Board on a quarterly basis, excluding those Trustees who receive payment.
d. Policies adopted for the induction and training of Trustees
Terms of the Board for Trustees are currently three years, following which an individual must apply to the Board for re-appointment. Trustees are recruited to the Board on the basis of a skills audit and through a mixture of WST networks and open advertising. Trustees are briefed on their role prior to appointment, conflicts of interest are actively registered and a Trustees Handbook has been developed, including information about the roles and responsibilities of Trustees.
The skills and areas of expertise currently represented on the Board of Trustees include:
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Finance and governance
-
Strategy and leadership
-
Diversity and inclusion
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Communications, PR, social media and digital engagement
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Commercial, marketing and brand insight
-
Athlete experience
-
Sporting bodies and policy
-
Organisational change and development
-
Event design and delivery
e. Related party relationships
Tamsin Parlour, Chris Hurst and Claire Bennett Sharpington, who are Trustees of the Charity, were paid for consultancy services. Further details of this are set out in note 14 to the financial statements.
This is not in relation to their roles as Trustees and is permitted by the Trust Deed. Any related party relationships are disclosed to the Board of Trustees with declarations completed by all Trustees.
f. Risk management
The Trustees review the major risks to which the WST is exposed on a regular basis. A risk register is in place and is discussed and updated regularly with the Board of Trustees. Quarterly Board and working group meetings ensure that Trustees are aware of risks, offer their expertise in assessing levels and identifying solutions where appropriate.
Page 5
Women's Sport Trust (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 May 2023
Plans for future periods
WST will use 2023/24 to not only build on the success of our recent work but to reassess our funding options and, in doing so, continue to ensure our strategy remains tied to our purpose and vision. During the past financial year we began the recruitment process for a Chair of the Board of Trustees.
While the majority of our funding still comes from one source – Sport England, WST has shown an ability to bring in other sources of revenue across the financial year and will continue to do so, as a priority. WST will continue to run a lean, effective organisation based around an operational core of contractors and an engaged Board.
Statement of Trustees' responsibilities
The Trustees (who are also the Directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company 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 income and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 Companies Act 2006. 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.
Approved by order of the members of the Board of Trustees on and signed on19 September 2023 their behalf by:
Tamsin Parlour Trustee
Page 6
Women's Sport Trust (A company limited by guarantee)
Independent examiner's report
for the year ended 31 May 2023
Independent examiner's report to the Trustees of Women's Sport Trust ('the Charity')
I report to the Charity Trustees on my examination of the financial statements of the Charity for the year ended 31 May 2023.
Responsibilities and basis of report
As the Trustees of the Charity (and its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity'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 a 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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 financial statements to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 9 October 2023 Susan Robinson BA FCA FCIE DChA
Kreston Reeves LLP
Chartered Accountants 2nd Floor, 168 Shoreditch High Street London E1 6RA
Page 7
Women's Sport Trust
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) for the year ended 31 May 2023
| Note Income from: Donations and legacies 4 Other trading activities 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) Transfers between funds 11 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 159,995 1,712 161,707 93,892 93,892 67,815 (554) 67,261 58,546 67,261 125,807 |
Restricted funds 2023 £ 148,440 - 148,440 171,647 171,647 (23,207) 554 (22,653) 22,653 (22,653) - |
Total funds 2023 £ 308,435 1,712 310,147 265,539 265,539 44,608 - 44,608 81,199 44,608 125,807 |
Total funds 2022 £ 159,143 2,000 |
|---|---|---|---|---|
| 161,143 | ||||
| 146,651 | ||||
| 146,651 | ||||
| 14,492 - |
||||
| 14,492 | ||||
| 66,707 14,492 |
||||
| 81,199 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 17 form part of these financial statements.
Page 8
Women's Sport Trust (A company limited by guarantee) Registered number: 08521118
Balance sheet as at 31 May 2023
| Note Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
1,131 182,539 183,670 (57,863) |
2023 £ 125,807 125,807 - 125,807 125,807 |
2,352 129,073 131,425 (50,226) |
2022 £ 81,199 |
|---|---|---|---|---|
| 81,199 | ||||
| 22,653 58,546 |
||||
| 81,199 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on _______19 September 2023 and signed on their behalf by:
Tamsin Parlour Trustee
The notes on pages 10 to 17 form part of these financial statements.
Page 9
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
1. General information
The Charity is a company limited by guarantee. The primary activity is the promotion of participation of women and girls in sports, recreation and leisure activities by assisting with the provision of facilities, equipment and opportunities in the interest of social welfare. The members of the Charity are the Trustees named on page 1, along with the entity's registered address. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Women's Sport Trust 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.
The financial statements are presented in UK sterling, which is the Charity's functional currency, and rounded to the nearest pound.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 10
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Page 11
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
2. Accounting policies (continued)
2.10 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 donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity does not currently have any significant accounting estimates or areas of judgement.
4. Income from donations and legacies
| Donations Grants Total 2023 Total 2022 |
Unrestricted funds 2023 £ 4,652 155,343 159,995 2,993 |
Restricted funds 2023 £ - 148,440 148,440 156,150 |
Total funds 2023 £ 4,652 303,783 308,435 159,143 |
Total funds 2022 £ 2,993 156,150 |
|---|---|---|---|---|
| 159,143 | ||||
5. Income from other trading activities Income from fundraising events
| Fundraising - #BeAGameChanger Total 2022 |
Unrestricted funds 2023 £ 1,712 2,000 |
Total funds 2023 £ 1,712 2,000 |
Total funds 2022 £ 2,000 |
|---|---|---|---|
Page 12
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
6. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable activities Total 2022 |
Unrestricted funds 2023 £ 93,892 2,290 |
Restricted funds 2023 £ 171,647 144,361 |
Total 2023 £ 265,539 146,651 |
Total 2022 £ 146,651 |
|---|---|---|---|---|
7. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Direct costs 2023 £ 108,750 97,000 |
Support costs 2023 £ 156,789 49,651 |
Total funds 2023 £ 265,539 146,651 |
Total funds 2022 £ 146,651 |
|---|---|---|---|---|
Analysis of direct costs
| Consultants Total 2022 |
Charitable activities 2023 £ 108,750 97,000 |
Total funds 2023 £ 108,750 97,000 |
Total funds 2022 £ 97,000 |
|---|---|---|---|
Page 13
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Insurance Travel & Subsistence/Catering Admin & Website Independent examiner's fees Venue Hire and Catering Non-recoverable VAT Professional fees Influencers Expenses Total 2023 Total 2022 |
Charitable activities 2023 £ 508 2,390 102,102 2,242 1,502 12,272 35,693 80 156,789 49,651 |
Total funds 2023 £ 508 2,390 102,102 2,242 1,502 12,272 35,693 80 156,789 49,651 |
Total funds 2022 £ 480 1,138 10,561 2,290 1,553 - 32,474 1,155 |
|---|---|---|---|
| 49,651 | |||
8. Trustees' remuneration and expenses
During the period, Tamsin Parlour, Chris Hurst and Claire Bennett Sharpington, who are Trustees of the Charity, were paid a combined £97,000 for consultancy services (2022 - £76,500). Tamsin Parlour, was paid through her consultancy company, Circuit Consultancy Ltd, and Chris Hurst was paid through his consultancy company C J Hurst Consultancy, whilst Claire Bennett Sharpington was paid directly in her own right.
These payments were not in respect of their roles as Trustees and were permitted by the Trust Deed. At the Balance sheet date there were no amounts outstanding (2022 - £Nil).
During the year ended 31 May 2023, expenses totalling £1,977 were reimbursed or paid directly to 1 Trustee (2022 - £1,112 to 4 Trustees).
9. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2023 £ - 587 544 1,131 |
2022 £ 300 1,641 411 |
|---|---|---|
| 2,352 |
Page 14
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
10. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income Deferred income at 1 June 2022 Resources deferred during the year Amounts released from previous periods Deferred income at 31 May 2023 |
2023 £ 9,044 48,819 57,863 2023 £ 48,100 46,707 (48,100) 46,707 |
2022 £ 206 50,020 |
|---|---|---|
| 50,226 | ||
| 2022 £ 57,100 48,100 (57,100) |
||
| 48,100 |
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Sport England Total of funds |
Balance at 1 June 2022 £ 58,546 22,653 81,199 |
Income £ 161,707 148,440 310,147 |
Expenditure £ (93,892) (171,647) (265,539) |
Transfers in/out £ (554) 554 - |
Balance at 31 May 2023 £ 125,807 |
|---|---|---|---|---|---|
| - | |||||
| 125,807 |
The source and purpose of the Sport England restricted fund, is as set out in the Trustees Report.
Page 15
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
11. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Sport England Total of funds |
Balance at 1 June 2021 £ 55,843 10,864 66,707 |
Income £ 4,993 156,150 161,143 |
Expenditure £ (2,290) (144,361) (146,651) |
Balance at 31 May 2022 £ 58,546 |
|---|---|---|---|---|
| 22,653 | ||||
| 81,199 |
12. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 June 2022 £ 58,546 22,653 81,199 |
Income £ 161,707 148,440 310,147 Balance at 1 June 2021 £ 55,843 10,864 66,707 |
Expenditure £ (93,892) (171,647) (265,539) Income £ 4,993 156,150 161,143 |
Transfers in/out £ (554) 554 - Expenditure £ (2,290) (144,361) (146,651) |
Balance at 31 May 2023 £ 125,807 - |
|---|---|---|---|---|---|
| 125,807 | |||||
| Balance at 31 May 2022 £ 58,546 22,653 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 81,199 |
Page 16
Women's Sport Trust (A company limited by guarantee)
Notes to the financial statements for the year ended 31 May 2023
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 136,963 (11,156) 125,807 |
Restricted funds 2023 £ 46,707 (46,707) - |
Total funds 2023 £ 183,670 (57,863) |
|---|---|---|---|
| 125,807 |
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
As restated Unrestricted funds 2022 £ 60,672 (2,126) 58,546 |
As restated Restricted funds 2022 £ 70,753 (48,100) 22,653 |
Total funds 2022 £ 131,425 (50,226) |
|---|---|---|---|
| 81,199 |
14. Related party transactions
During the period, Tamsin Parlour, Chris Hurst and Claire Bennett Sharpington, who are Trustees of the Charity, were paid a combined £97,000 for consultancy services (2022 - £76,500). Tamsin Parlour, was paid through her consultancy company, Circuit Consultancy Ltd, and Chris Hurst was paid through his consultancy company C J Hurst Consultancy, whilst Claire Bennett Sharpington was paid directly in her own right.
These payments were not in respect of their roles as Trustees and were permitted by the Trust Deed. At the Balance sheet date there were no amounts outstanding (2022 - £Nil).
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