Registered number: 08623233 Charity number: 1155522 THE SPORTS TRUST (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE SPORTS TRUST IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees, report Impact Report Independent auditors, report on the financial statements Consolidated statement of financial activities 10-18 38-41 42 Consolidated balan sheet 43-44 Charity balance sheet Consolidated statement of cash flows 45-46 47 Notes to the financial statements 48-76
THE SPORTS TRUST IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees Damian Collins Sophie Downey stephen Hughes Roisin Mackenzie (appointed 13 February 2026) Gregory Timmins lappoinled 13 February 2026) Briony Walsh lappointedl Rachel Long Zoe Marie Camp (resigned 31 October 20251 Paul Camey {resigned 7 October 20251 Mark Greenwood (resigned 31 October 2025} Jenny Jordan (appointed 1 January 2025, resigned 18 July 20251 Viscount Jacob Folkestone (appointed 1 January 20251 Louisa Eede Company registered number 08623233 Charity number registered 1155522 Registered office Three Hills Sports Park Cheriton Road Folkeslone Kent CT19 5JU Chief executive officer D Hulme Independent auditors RPG Crouch Chapman LLP Chartered Accountants 40 Gracechurch Street London EC3V OBT Page 1
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees have pleasure in presenting their report and the audiled consolidated financial statements of The Sports Trust and its trading subsidiary, The Sports Trust Trading Limited, {'the Group } for the year ended 31 August 2025. The annual report serves the purposes of both a Trustees, report and a Directors, report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Charities SORP IFRS 102). About The Sports Trust The Sports Trust is a community-focused organisation dedicated to increasing participation in sport and physical activity in South East England. We operate multiple sports facilities and deliver programmes to schools, clubs, and the wider community. Our goal is to remove barriers to sport and create opportunities for all ages and abilities to engage in lifelong physical activity. The charity dismantles barriers to sports participation. Our work with diverse communities creates accessible and engaging opportunities promoting our fim belief that sport and physical activity are essential components of a healthy and united society. TST works in partnership with around 50 local schools, over 60 sports clubs and multiple stakeholders including Kent County Council and Folkestone and Hythe District Council along with national goveming bodies. The Roger De Haan Charitable Trust I'RDHCT,) provided funding to act as a catalyst for the co-operation between schools and sports clubs. Participating schools commit to provide a full and regular programme of organised sport to their pupils and to regularly enter school teams in local inter-school matches. OBJECTIVES AND ACTIVITIES Mission Our vision is to make sport and physical activity possible for everyone in our community. Our mission is to work in partnership with schools, clubs and community groups to provide the best sporting opportunities for everyone in the community, from beginners to elite athletes. Page 2
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Principal objectives The object of the Charity as set out in its Articles of Association is the promotion of community participation in healthy recreation for the benefit of the inhabitants of the district of Folkestone and Hythe by assisting in the provision of facilities and other seNices that will enable them to participate in amateur sport and physical activity. The objectives are as follows.. To significantly improve the number of local people, both adults and children, that regularfy participate in sport, To encourage "not for profit" sports clubs to develop sports facilities that meet the needs of the local community., To encourage local schools and "not for profit sports clubs to support their talented sportsmen and women., To create a partnership beeen the district's "not for profit" sports clubs and local primary and secondary schools in order that they share coaching, training, facilities and other resources., • To have all primary and secondary schools in the district committed to offering a full and regular programme of organised sport and committing school sports teams to compete in local inter-school matches., To encourage the district's "not for profit" sports clubs to better meet the needs of the local community and, as a result, increase club membership., To develop, over time, a model for the development of sport in the district that will appeal to the various agencieslbodies that fund sport. To develop and operate excellent sporting facilities. The organisation seeks lo do this by.. Expanding Inclusive Community Programmes We will increase participation in sport through school partnerships, holiday camps, and targeted outreach. Our programmes will be designed to be ensure there is provision and accessibility for all ages and abilities, ensuring diverse and equitable participation. Enhancing Facilities & Infrastructure We will invest in well-maintained, future-proofed venues that provide high-quality, safe, and accessible sporting opportunities. This includes upgrading existing facilities, implementing energyefficient solutions, and expanding sports access through innovative partnerships. Building a Strong People & Culture We will Greate an empowering and inclusive workplace, ensuring employees, volunteers, and partners thrive in delivering our mission. Through ongoing professional development, leadership training, and clear governance structures, we will foster a positive culture of collaboration and impact. Embedding Environmental Responsibility Sustainability will be at the heart of our operations. We will aim for carbon neutrality, reduced resource consumption, and actively engage in communily-led conservation efforts, ensuring that our facilities and programmes contribute positively to the environment. Achieving Financial Resilience We will strengthen our funding models and diversifying revenue streams, establishing long-term partnerships, and improving operational efficiency. By reducing reliance on one-off funding sources, we will create a financially sustainable future thal enables ongoing investment in our community programmes and facilities. Page 3
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Community - To encourage people of all ages to create and develop a life-long love of sport and physical activity no matter what their motivation may be. We are well established within the Folkestone and Hylhe District as the provider for community sports. All (35 primary, 16 secondary (including Ashford schools) and 3 special education needs) local schools and 45 clubs are engaged with the Trust, we run district-wide holiday camps with over 5,000 spaces and we run three sports facilities. Our aim is to continue to strengthen these projects and identify opportunities to grow. People To be an exceptional employer and to cultivate a supportive and uplifting envimnment, fostering a positive culture of continuous improvement where everyone feels valued, empowered, and motivated to contribute to our mission. We currently employ around forty staff lit varies with seasonal staff at the facilities). We have a good culture that has been embedded and helped by the addition of our people team and regular management training. 11 is our aim to conlinue lo grow this team and ensure our values, especially those of kindness, fun and equality are lived throughout the organisation. This will be achieved through good recruitment, training and support and will be reviewed through our annual staff satisfaction survey. Facilities- To transform our facilities and increase our sporting offer so that our communities can enjoy sport and physical activity in a safe environment. We operate three facilities in the Folkestone and Hythe District, F51 (the world's first multi storey skatepark, including a boxing gym and climbing facility), Three Hills Sports Park la ntre of excellen for cricket, hockey and alhlelics and includes football and netball facilities) and Folkeslone Sea Sports Centre (which offers lessons and hire craft for kayaking, paddle boarding and other water based activity). These facilities are crucial to delivery of our sports programmes and our overall goal. We must keep them up to a very high standard and make provision for longer term maintenance and renewal. By cenlralising the maintenance and H&S plan and combining this with regular customer feedback we intend to improve the customer experience and reduce costs. We are also keen to explore the addition of further facilities that could help deliver our overall goals. Environment - To be environmentslly sustainable and to achieve a zero-carbon ft>otprint and integrate authentic green initiatives throughout the oryanisation. Whilst we are a sports charity and this remains our key focus, we are also committed to contribute to our role in the world and ensure our actions have minimal negative impact on our environment. We have various initiatives under way, e.g. recycling at our facilities, use of grey water and our current solar provision alongside the beginning of cOnseation work alongside the sea sports, however we would like to do much more. To achieve this, we see reducing energy usage as a major first step and need to undertake energy assessments and implement a major solar project to reduce our reliance on carbon fuels (and in turn reduce our utility costs). We would also like to use our role as a community wide organisation to drive positive change and educate on conservation topics. Page 4
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Finance - To be financially sustainable by developing a long-term financial plan thmugh a diverse and balanced mix of corporate and charitable partnerships and programmes that align with our values. For us to be able to achieve any of our objectives, we must be run sustainably. We have gone through major growth over the last few years as F51 has been finished and further integration in managing and operating Three Hills has meant the Trust has transitioned from a schools, sports Trust to a major facility operator with a turnover of £2m+ Financial support has had to scale up as well to provide accurate reporting and support further investment and growth. Key appointments at the facilities will drive increased revenue whilst a fundraising strategy is in place to deliver ambitious targets to support our projects. ACHIEVEMENTS AND PERFORMANCE We share our impact report as part of this Trustees Report outlining our achievements and performance this year. FINANCIAL REVIEW The Group generated a deficit for the year of £79,025 {2024.'112,8561 and held cash balances of £179,23612024'. £79,549). The trustees would like to place on record appreciation of our patron Sir Roger De Haan and the Roger De Haan Charitable Trust who has over the years contributed considerable money towards the set up and operation of the charily, the significant investment in F51 and more rentlY enabling the purchase ofthe Folkestone Sports Centre. The trustees of the charity would also like to pla on record appreciation of its supporters who provided the necessary funding for special projects and to enable the trust to operate. Included within the total grants received of £926,431 (2024.. £613,478) were the following.. Grants of £80,532 from Kent County Council towards their Fit and Fed project which is aimed to encourage posilive, social and physical activities for 1-19 year olds by running summary and half- term programmes. A number of grants from Folkestone & Hythe District Council totalling £264,850 for a range of projects, including the Fit and Fed project, Little Athletes, Active 50 and our sports clubs. The completion of the build of the Skatepark is the main reason for the decrease in fund income during the year as £83,817 was reiVed in the previous year in respect of the build, with only £47,392 being required in the year to 31 August 2025 as the building reached the practical completion stage. Contributing lo the deficit for the year is depreciation of £296,459 as the F51 building started lo be depreciated now it has been brought into use. As this is a non-cash transaction, once depreciation is excluded, the operating surplus for the year is £217,434. Page 5
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Reserves policy The policy of the trustees is lo maintain a level of reserves that will be adequate to provide a stable base for the continuing operation of the charity, whilsl ensuring that excessive funds are not accumulated. Trustees agreed the target to aim for should be £25,000 growing to £50,000 in time. In common with many other charities, The Sports Trust is dependent on continuing donations from its supporters to enable it to continue its operations. Total Group funds as of 31 August 2025 amounted to £10,107,697 (2024.. £10,186,722}. All funds of the Group at the Balance Sheet date comprised unrestricted funds, with all restricted monies received in the year having been fully spent. Of the Group position, the parent charity's unrestricted reserves represented £10,216,317 and the subsidiary's unrestricted reserves being in deficit by £416,498. This is an improved position on the previous year now that the F51 building has been operational for three years. Deficits on trading activities at F51 were expected initially, whilst the company found its feet and customer base, and the charity and the directors of the subsidiary are working hard to develop plans to ensure that the Skate Park is profitable from 2024125. Since the Charity's unrestricted reseeS are tied up in the value of fixed assets, at 31 August 2025 neither the Parent Charity itself or the overall Group had any free reseNes. Going concern The trustees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related lo 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 authorisalion for issue of the financial statements. The Charity has continued to re1ve income in the fomi of a number of grants including multi-year funding support as well as the income from schools, holiday camps and generous partners. We have also received an additional donation from local charitable events which all help to cover operational costs. Whilst acknowledging the uncertainties that remain, the trustees are confident that the impact in the coming year will remain low and the trustees have concluded there is no matenal uncertainties about the Charity's ability to continue as a going concern and that it remains appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Principal risks and uncertainties Loss of key staff Loss of key staff would affect key areas of work delivery and other staff members may not have the same skill set Good working relationships between the team and weekly meetings to ensure any issues discussed. Key areas of work template to be prodUd and reviewed to ensure we have the ability and knowledge to cover key areas of work with loss of an employees. Page 6
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Senior leaders are asked to provide succession plans to ensure the charity is not too impacted by the loss of key staff. Loss of school or holiday Gamp inGome Primary schools lose their funding and stop buying into the Charity's services. We continue to strengthen the relationships with all schools so that we are in the best position to continue working with them if there is any change in the funding landscape. A number of Trustees are experienced in this area and are able to help the charity plan accordingly. We continue to look at other areas to diversify {including facility operations). Likewise we are one of the key delivery partners for holiday camps and have secured funding for another two years. PLANS FOR FUTURE PERIODS At the slart of September 2024 the Charity received income from schools for sports packages, holiday camp delivery and support for various other community projects for the period through to August 2025. As part of this, we aim to engage all local sports and community facilities in our long- term mission and strategy so that everyone has the freedom of Choi to access consistently high quality facilities and activities within them and this coming year will see further growth of our programmes. We will also explore opportunities to expand our facility portfolio to seek economies of scale and most importantly to ensure that access to all sports is inclusive, affordable and funl STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The Charity is controlled by ils goveming document, the Memorandum and Articles of Association dated 24 July 2013 as amended by special resolution registered with Companies House dated 20 December 2013, and constitutes a company limited by guarantee, as defined by the Companies Act 2006. The charity changed its name from The Shepway Sports Trust to The Sports Trust by special resolution dated 21 January 2022. Recruitrnent and appointment of new trustees Trustees are appointed by the recommendation of the existing iruslees. New trustees, when appointed will be provided with an information pack including the latest accounts and Memorandum and Articles of Association and will be afforded the opportunity to undertake visits to the premises of The Sports Trust. Board training is made available regularly for key topics for example safeguarding and governance, and most trustees continue to have considerable exposure to educational and charitable matters either through their principal occupation andlor involvement in other charitable institutions. Page 7
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Risk management The trustees have examined the major risks which the charity faces and have put in place systems, policies, procedures and controls in order to manage and mitigate these risks. Appropriate insurances are in pla. The Charity is organised with directors and members of the management committee meeting regularly to manage its affairs. There are five members of permanent staff who, together with the volunteers, apprentices and fixed term project staff, manage the charity. Where appropriate, the trustees will act only after taking appropriate professional advice. Members. liability Each member of the charitable company undertakes to contribute to the assets of the Charity in the event of it being wound up while helshe is a member, or within one year after helshe ceases to be a member, such amount as may be required, not exedIng £1, for the debts and liabilities contracted before helshe ceases to become a member. Setting pay and remuneration of key management personnel All pay and remuneralion of key managemenl is presented against the business case by the Chief Executive to the committee for approval. This takes into account staffing reviews, success against prescribed outcomes and is independently benchmarked against similar salaries. Related parties Related party questionnaires are sent to all Trustees, Directors and senior leaders to complete to ensure there is a full log of any related parties. Transactions undertaken with related parties during the year are disclosed, where required, within the notes to the accounts. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directors for the purpose of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. Company 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law}. Under company law the Truslees 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 charitable company and the results of the charitable company 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 IFRS 102)., make judgmenls and accounting estimates that are reasonable and prudent., state whether applicable UK 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 charitable company will continue in business. Page 8
THE SPORTS TRUST IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on charilable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions. Disclosure of information to auditors Insofar as the Trustees are aware.. there is no relevant audit information of which the charitable company's auditor is unaware., and the Trustees have laken all steps that they ought to have laken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. AUDITORS RPG Crouch Chapman LLP have indicated their willingness to continue in office as auditors, and a resolution for their re-appointment will be proposed at the Annual General Meeting. The Trustees declare that they have approved the Trustees, Annual Report above. Signed on behalf of the Trustees.. b¥lHISHI'c81rf 2026 1 40prnl Trustee Approved by order ofthe members of the board of Trustees and signed on their behalf by.. Date.. 28 May 2026 Page 9
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THE SPORTS TRUST IA company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Other trading artivities 209.545 258.820 257,679 716.886 926.431 258.820 257,679 613,478 158,478 288,947 Total Income 726,044 716,886 1,442,930 1,060,903 Expenditure on- Raising funds Charitable activities 412,538 700,410 412,538 1,109,417 431, 710 742,049 409,007 Total expenditure 1.112,948 409,007 1.521,955 1, 173, 759 Net rnovement in funds (386,9041 307,879 79,0251 (172,856) Reconeiliation of funds- Total funds brought fomard Net movement in funds 10,186,722 {386.9041 10,186,722 179.0251 10,299,578 (112,856) 307.879 Total funds carried forward 9.799,818 307,879 10.107,697 10, 186, 722 Page 42
THE SPORTS TRUST IA company limited by guarantee) REGISTERED NUMBER: 08623233 CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets 15.778.516 14,205,649 15.778,516 14,205,649 Current assets Stocks Debtors Cash at bank and in hand 13 7,008 242,744 179.236 14 101,674 79,549 428.988 181, 163 Current liabilities Creditors.. amounts falling due within one year 15 1307,686) (200,090J Net current assets I Ilabllltes 121,302 (18,927) Total assets less current Ilabllltles 15,899,818 14,186,722 Creditors.. amounts falling due after more than one year 16 5,792,121) (4,000,000) Net assets excluding pension asset 10,107,697 10, 186, 722 Total net assets 10,107,697 10, 186. 722 Charity funds Restricted funds Unrestricted funds 17 307,879 9,799,818 17 10, 186, 722 Total funds 10,107,697 10, 186, 722 The Charity was entilled to exemplion from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Acl 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. 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 slalements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. Page 43
THE SPORTS TRUST IA company limited by guarantee) REGISTERED NUMBER: 08623233 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 AUGUST 2025 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. ja Date. 28 Nll The noles on pages 48 to 76 form part ofthese financial statements. Collins (May 28. 2028 26 Page 44
THE SPORTS TRUST IA company limited by guarantee) REGISTERED NUMBER: 08623233 CHARITY BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets Investments 15.778.517 50 14,205,649 50 12 15.778,567 14,205,699 Current assets Debtors Cash at bank and in hand 14 633,093 179.236 283,962 79,546 812.329 363,508 Current liabilities Creditors.. amounts falling due within one year 15 1274,579) (112,263J Net current assets 537,750 25f,245 Total assets less current Ilabllltles 16,316,317 14,456,944 Creditors.. amounts falling due after more than one year 16 5,792,121) (4,000,000) Net assets excluding pension asset 10,524,196 10,456,944 Total net assets 10,524,196 10,456.944 Charlty funds Restricted funds Restricted funds Unrestricted funds 17 307,879 17 307,879 10.216,317 17 10,456,944 Total funds 10.524,196 10,456,944 The Charity's net movement in funds for the year was £67,252 (2024 - £29, 905). The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. Page 45
THE SPORTS TRUST IA company limited by guarantee) REGISTERED NUMBER: 08623233 CHARITY BALANCE SHEET {CONTINUED) AS AT 31 AUGUST 2025 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 stalements were approved and authorised for issue by the Trustees on and signed on their behalf by.. The,6>a*,41Sl76 form part of these financial statements. Page 46
THE SPORTS TRUST IA company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operating activities Net cash used in operating activities 1130.986} 169,816 Cash flows from Investlng actlvltles Purchase of tangible fixed assets 11,869,328) (100,000) Net cash used in investing activities 11.869,328} {100.0001 Cash flows from financing activities Cash inflows from new borrowing 2,100,000 Net cash provlded by flnanclng actlvltles 2,100,000 Change in cash and eash equivalents in the year Cash and cash equivalents at the beginning of the year 99,686 69,816 79.550 9, 734 Cash and cash equivalonts at the end ofthe year 179.236 79,550 The notes on pages 48 to 76 form part of these financial statements Page 47
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General information The Sports Trust is a charitable company registered in England and Wales, its company registered number is 08623233 and its charity registered number 1155522. The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the Charity. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The Sports 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 consolidated statement of financial activities {SOFAI and consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements. The accounts have been prepared in GBP and all amounts have been rounded to the nearest £. 2.2 Consoldiations The financial statements consolidate the accounts of The Sports Trust and its subsidiary undertaking, The Sports Trust Trading Limited Page 48
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.3 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 Group to continue as a going concern. They make this assessment in respect of a period of at least one year from the date of aulhorisation for issue of the financial statements. In making their assessment, the Trustees have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events. The results for the Group for the year encompass a full year of trading for the Charity's flagship one-of-a-kind venue, the F51 skate park, which made a significant loss. This loss was anticipated due to the relative infancy of the venue and the cosl-of-living crisis along with the worldwide increase in energy costs. The Trustees anticipate that the results for the coming year will show a great improvement with all revenue streams being departmentalised and managed efficiently with a view to breaking even in 2025126. The Charity itself continues to review it's projects and constantly reviews whether it is meeting it's objectives and some projects have fallen away this year as a result. The Charity's core school provision continues to provide a good return and the engagement from local schools continues to grow. Due to the ongoing cost of living crisis and political landscape the Trustees recognise that 2025126 will likely be another challenging year. Taking all the above into consideration, the Trustees have a reasonable expectation that the Group will, at all times, have adequate resources to continue in operational existence for the foreseeable future. Therefore, the Trustees have concluded that there is no material uncertainty and that it remains appropriate to continue to adopt the going concem basis of accounting in preparing the financial statements. 2.4 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 consolidated statement of financial activities on a re1vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balan 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. Other income is recognised in the period in which it is re1vable on completion of the Se1. 2.5 Expenditure Page 49
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 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 is classified by activily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 50
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.5 Expenditure (continued) Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non- charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives as detailed below using the straight-line method. Depreciation is provided on the following bases.. Long-term leasehold property Plant and machinery Fixtures and fittings between 1.5-20k .On Cost 250h On Cost 200h On Cost 2.7 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 51
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.9 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. 2.1 OLiabilities 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 reiVed 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 consolidated statement of financial activities as a finance cost. 2.11Financial instruments The Group 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.. 2.12Pensions The Group operalesa defined contribulion pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. Page 52
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Critical accounting estimates and areas of judgment Estimates and judgments 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 Circumstan$. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions Conrning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Estimated useful lives and residual values of tangible and intangible fixed assets Depreciation and amortisation of tangible and intangible fixed assets is based on estimated useful lives and residual values deemed appropriate by the Trustees. Estimated useful lives and residual values are reviewed annually and are revised as appropriate. Critical areas of judgment.. The carrying value of fixed assets, in particular The F51 Sports Centre is reviewed and assessed periodically and adjustments to the carrying value are made by the Trustees if indications for a change in value are present. Page 53
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Donations The Roger De Haan Charitable Trust- General Sport The Roger De Haan Charitable Trust F51 Support Folkestone & Hythe District Council The Randor Charity Trust Ray Johnson ESC Lottery Lawson Trust Colyer Fergusson One Savings Bank Eurotunnel Kent County Council Edesco other Sir Roger De Haan Capital Contribution Subtotal detailed disclosure 40,000 40,000 47,392 264,850 1,000 10,000 25.000 8.000 20,000 4,824 5,000 80,532 75,607 2,406 341.820 47,392 264,850 1,000 10,000 25,000 8,000 20,000 4,824 5,000 80,532 75,607 2,406 341,820 209,545 716,886 926,431 209,545 716,886 926,431 Page 54
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from donations and legacies (continued) Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Donations The Roger De Haan Charitable Trust- Skatepark The Roger De Haan Charitable Trust- Salary Grant Kent Count Council 83,088 25,000 21,999 30,(K)O 20,(X]O 19,850 2,975 83,088 25,000 21,999 30,000 20,000 26,850 2,975 100,000 170,288 1,000 78,636 6,400 75,000 28,713 17,336 21,793 25,000 John Swire Grant Colyer Fergusson Grant Folkestone & Hythe District Council Youth Sports Trust Postcode Community Lottery The Education People Street Games Spacehive The Football Association British Cycling Other Grants 7,000 100,000 170,288 1,000 18,636 6,400 15,(X]O 813 27,300 17,336 21,793 General donations Salary Recharge Sponsorship Subtotal detailed disclosure 25,000 343,717 269, 761 613,478 343,717 269, 761 613.478 Incomè from charitable activities Unrestricted funds 2025 Total funds 2025 Income from charitable activities - Promoting Sports and Physical Activity to the South East of Kent 258,820 258,820 Page 55
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from ¢haritsble activities {¢ontinuedl Unrestricted funds 2024 Total funds 2024 Income from charitable activities - Promoting Sports and Physical Activity to the South East of Kent 158,478 158,478 Income from other trading activities Income from non charitable trading activities Unrestricted funds 2025 Total funds 2025 Skatepark Activites Climbing Activities HAF Activites Powerboat 112,749 82,105 23,948 16,874 22,003 112,749 82.105 23.948 16,874 22,003 Other income 257,679 257,679 Unrestricted funds 2024 Total funds 2024 Skatepark Activites Climbing Activities HAF Adivites Powerboat Other income 160,358 94,148 11,626 18,033 4, 782 160,358 94,748 11,626 18,033 4, 782 288,947 288,947 Page 56
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2025 Restricted funds 2025 Total 2025 Promoting Sports and Physical Activity to the South East of Kent 700,410 409,007 1,109,417 Unrestricted funds 2024 Restricted funds 2024 Total 2024 Promoting Sports and Physical Activity to the South East of Kent 555,375 186,674 742,049 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Promoting Sports and Physical Activity to the South East of Kenl 751,336 358,081 1.109,417 Activities undertaken direGIIy 2024 Support Gosts 2024 Total funds 2024 Promoting Sports and Physical Activity to the South East of Kent 401,941 340, 109 742,050 Page 57
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure by activities (continued) Analysis of direct costs Promoting Sports and Physical Activity to the South East of Kent 2025 Total funds 2025 Staff costs Direct Activities 303,247 448,089 303,247 448,089 751,336 751,336 Promoting Sports and Physical Activity to the South East of Kent 2024 Total funds 2024 Staff costs 254,594 147,347 254,594 147,34T Direct Activities 401,941 401,941 Analysis of support costs Promoting Sports and Physical Activity to the South East of Kent 2025 Total funds 2025 Governance Depreciation 61,622 296,459 61,622 296,459 Total 2025 358,081 358,081 Page 58
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure by activities (continued) Analysis of support costs (continued) Promoting Sports and Physical Activity to the South East of Kent 2024 Total funds 2024 Governance Subscriptions Depreciation Profit on disposal of fixed assets 37,324 91 37,324 91 296, 709 5,985 296, 709 5,985 340, 109 340. 709 Auditors. remuneration 2025 2024 Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 10.900 73,000 Fees payable to the Charity's auditor in respect of.. All non-audit setvices not included above 3.100 10. Staff costs Group 2025 Group 2024 Charlty 2025 Charity 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 479,993 51.864 458,087 23,317 266,784 25.018 237,721 9,208 19.302 12,553 11.445 8,265 551.159 493,957 303.247 254,594 Page 59
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Staff costs (continued) The average number of persons employed by the Charity during the year was as follows.. Group 2025 No. Group 2024 No. Charity 2025 No. Charity 2024 No. Average Employees 22 19 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2025 Group 2024 In the band £70,001- £80,000 The trustees consider the key management personnel of the Charity, the Chief Executive, Deputy Chief Executive, Chief Operating Officer, Marketing Manager, F51 Manager and Youth and Schools Partnership Project Manager. The total employee benefits (including employer's national insurance and pension contributions) to key management personnel amounted to £253,64612024'. £211,109) 11. Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2024 - £NIL). During the year ended 31 August 2025, no Trustee expenses have been incurred (2024- £NIL Page 60
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Tangible fixed assets Group Long-temi Assets leasehold under property construction Plant and Fixtures and maehinery fittings Total Cost or valuation At 1 September 2024 Additions 14.653,457 36,405 10.876 7,200 139.410 938 14.803,743 1,869,328 1.824,785 At 31 August 2025 14.689,862 1.824,785 18.076 140.348 16.673,071 Depreciation At 1 September 2024 Charge for the year 528,529 265,650 7.118 2.003 62.448 28.806 598,095 296,459 At 31 August 2025 794,179 9,121 91,254 894,554 Net book value At 31 August 2025 13,895,683 1,824,785 8,955 49,094 15,778,517 At 31 August 2024 14, 124,928 3, 758 76.962 14,205,648 Page 61
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Tangible fixed assets {¢ontinuedl Charity Long-temi Assets leasehold under property construction Plant and Fixtures and machinery fittings Total Cost or valuation At 1 September 2024 Additions 14,653,457 36,405 10,876 7.200 139,410 938 14,803,743 1,869,328 1.824,785 Al 31 August 2025 14,689,862 1,824,78S 18,076 140,348 16,673,071 Depreciation Al 1 September 2024 Charge for the year 528,529 265,650 7,118 2,003 62.448 28,806 598,095 296,459 At 31 August 2025 794,179 9.121 91.254 894,554 Net book value At 31 August 2025 13.895,683 1.824,785 8.955 49.094 15.778,517 At 31 August 2024 14, 124,928 3, 758 76.962 14,205,648 Page 62
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Fixed asset invesbnents Investments subsidiary companies Charity Cost or valuation At 1 September 2024 50 At 31 August 2025 50 Page 63
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Fixed asset investments (continued) Principal subsidiaries The following was a subsidiary undertaking of the Charity.. Name Company number Registered office or principal Principal activity place of business The Sports Trust Trading Limited 10351649 Strand House Pilgrims Way, Trading Activites of Monks Horton, Ashford, F51 Sports Center Kent, United Kingdom, TN25 6DR Class of shares Holding Included in consolidation A Ordinary The financial results of the subsidiary for the year were.. Name Income Expenditure ProfitllLossl I Surplusl (Deficit) for the year Net assets The Sports Trust Trading Limited 284,029 1430,3041 1146,2751 1416,4981 13. Stocks Group 2025 Group 2024 Finished goods and goods for resale 7.008 Page 64
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. Debtors Group 2025 Group 2024 Charity 2025 Charity 2024 Due within one year Trade debtors 84,110 27,722 83,638 404.380 6.292 138.783 27,750 200,375 53,815 2,622 Amounts owed by group undertakings Other debtors 55,233 18,658 Prepayments and accrued income 152.291 242.744 101,614 633.093 283,962 Page 65
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Creditors: Amounts falling due within one year Group 2025 Group 2024 Charity 2025 Charity 2024 Bank overdrafts Trade creditors Amounts owed to group undertakings Other taxation and social security Other creditors Accruals and deferred income 1,888 58,261 1,888 39,824 125.400 122.566 35.157 102.444 44.685 96,325 26,221 17,392 29.020 88.515 34.478 38,755 22,013 10,383 307,686 200,090 274,579 112,263 16. Creditors: Amounts falling due after more than one year Group 2025 Group 2024 Charity 2025 Charity 2024 Other creditors 5,792,121 4,000,000 5,792,121 4,000,000 Included in Other Creditors are 2 Loans from the Roger De Haan Foundation for £4,000,000 and £2,100,00012024 - 1 Loan of £4,000,000.) These are for the building of the F51 site and for the purchase of the Folkestone Sports Centre respectively. The loan for £4,000,000 has no interest rate and repayment is dependent on the generation of cash surpluses within the charity. Page 66
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds Statement of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expenditure Unrestricted funds Designated funds Fixed Assets 10,205,648 1219,252) 9,986,396 General funds The Sports Trust Trading Limited General Funds {270.2231 251,297 284.029 442,015 {430.3041 {682,6441 {416.4981 229,920 219,252 18,9261 726,044 11,112,948) 219,252 {186,5781 Total Unrestricted funds 10,186.722 726.1)44 11,112.9481 9,799.818 Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expenditure Restricted funds English Sport Council Lawson Trust 25,000 8,000 20,000 125,0001 18,0001 20,0001 Colyer Fergusson Folkestone & Hythe District Council One Saving Bank Eurotunnel 264,850 4.824 5.000 {264,8501 14,8241 15.0001 Sir Roger De Haan Capital Contribution Urban Skate Park, Folkestone 341.820 133.9411 307.879 47.392 147.3921 716.886 {409.0071 307,879 Page 67
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds {¢ontinuedl Total of funds 10,186,722 1.442.930 11,521.9551 10,107,697 Page 68
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds {¢ontinuedl Statement of funds - prior year Balan at I September 2023 Balan at 31 August 2024 Transfers in/oul Income Expenditure Unrestricted funds Designated funds Fixed Assets 70,205,648 10,205,648 Balan at I September 2023 Balan at 31 August 2024 Transfers in/oul Income Expenditure General funds The Sports Trust Trading Limited General Funds {127,467) 10,427,041 290,276 5(X),865 {433,039) {554,047) {270,224) 251,298 10,299,580 791, 141 (987,086) (78,926) Totsl Unrestricted funds 10,299,580 791, 141 (987,086) 10,205,648 10, 186, 722 Restricted funds Colyer Fergusson Folkestone & Hythe District Council Sir Roger De Haan Capital Contribution RDHCT Salary Grant Urban Skate Park, Folkestone The Barclays Girls FootballPartnership British Cycling Leverets Barristers & Solicitors Youth Sport Trust Radnor Estate John Swire Charitable Trust Space Hive 20,000 19,850 (20,000) (19, 850) 1,000 25,000 83.087 (1,000) (25,000) (83,087) 7.189 15.000 (7, 189) (15, 000) (25,000) (2,000) (I,ooo) (30,000) (18, 636) 25,000 2,000 1,000 30,000 18,636 Page 69
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds {¢ontinuedl Statement of funds - prior year (continued) Balan at I September 2023 Balan at 31 August 2024 Transfers in/oul Income Expenditure Kent County Council 21.999 (27, 999) 269, 761 (186, 674) {83,087J Total of funds 10,299,580 1,060,902 (1, 173, 760) 10, 122,561 10, 186, 722 Page 70
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds {¢ontinuedl The restricted funds ofihe Charity were represented by the following.. Current Year En lish S orts Council ESC The Charity received grant funding towards the general Sports Provision Col er Fer usson Charitable Trust The Charity received grant funding towards the Holiday Camps provided during school holidays. Folkestone and H he Districl Council The local council provide funding lo the Charity for various initiatives, including Holiday Camps, coaching at the Urban Skate Park, Little Athletes (Community Partnership Fund), Little Athletes, Shred Club and Solar Panels. One Savin Bank The Charity recieved Sponsorship Income Climbing and Skateboarding Gear for HAF Camps EuroTunnel The Charity recieved a Donation for Little Athletes Equipment Sponsor Prior Year Street Games Doorste Pro ramme The Charity receives funding from Street Games in order to deliver a Pulse youth club and other community and youth based sports sessions. Col er Fer usson Charitable Trust The Charity received grant funding towards the Holiday Camps provided during school holidays. RDHCT Sala Grant The Charity received a grant from The Roger De Haan Charitable Trust as a contribution to the salary oflhe CEO. Urban Skate Park Folkeslone Funds for the Urban Sports Park are spent on the designing and building of the state of the art urban sports facility in Folkestone, Kent. The facility offers skateboarding, climbing, boxing, BMX and other activities. The Barcla s Girls Football Partnershi The grants received contribute towards staff salary and equipment expenses. The project was developed to encourage female participation in football. British C clin Grant funding was provided to the Charity to start a BMX club at the Urban Skate Park, F51. Page 71
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Statement of funds {¢ontinuedl Leverets Barristers & Solicitors The fund has been set up following a sponsorship agreement with Leverets Barristers & Solicitors (supporters of the Trustl'who contribute towards sporting equipment lo enable all our sports programmes. Folkestone and H he District Council The local Council provide funding to the Charity for various initiatives, including Holiday Camps, coaching at the Urban Skate Park, Little Athletes (Community Partnership Fund), Little Athletes, Shred Club and Solar Panels. Youth S orts Trust The grants received contribute towards staff salary and equipment expenses. The project was developed to encourage female participation in football. Radnor Estate The Charity received grant funding towards the Holiday Camps provided during school holidays. John Swire Charilable Trust The Charity received grant funding towards the Holiday Camps provided during school holidays. a Hive Spacehive is a crowdfunding platform that helped fund the Little Athletes project through public donations and matched contributions from the NHS, FHDC, and KCC. With this support, TST received full funding to deliver the project. Kent Count Council The Charity received grant funding towards the Holiday Camps provided during school holidays. 18. Summary of funds Page 72
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Summary of funds {continued Summary of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 10,205,648 18,9261 1219,252} 9,986,396 219,252 {186,5781 307,879 726,044 11,112,948) 716,886 {409,0071 10.186,722 1.442.930 11.521.955) 10.107,697 Summary of funds - prior year Balan at I September 2023 Balan at 31 August 2024 Transfers in/oul Incomg Expenditure Designated funds General funds 10,205,648 10,205,648 (78,926) 10,299,580 791, 141 269, 761 {987.086) (186,674) Restricted funds (83,087) 10,299,580 1,060,902 (1, 173, 760) 10, 122,561 10, 186, 722 19. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Difference 15,778,516 428,988 1307,6861 16,100,000) 15.778.516 428.988 {307.6861 307,879 15,792.1211 Total 9,799,819 307,879 10,107,698 Page 73
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Summary of funds {continued Summary of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 10,205,648 18,9261 1219,252} 9,986,396 219,252 {186,5781 307,879 726,044 11,112,948) 716,886 {409,0071 10.186,722 1.442.930 11.521.955) 10.107,697 Summary of funds - prior year Balance at I September 2023 Balance at 31 August 2024 Transfers in/oul Incom8 Expenditure Designated funds General funds 70,205,648 10,205,648 (18,926) 10,299,580 791, 141 269, 761 (987,086) (186,674) Restricted funds (83,087J 10,299,580 1,060,902 (1, 173, 760) 10, 122,56f 10, 186, 722 19. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Difference 15,778,516 428,988 1307,6861 16,100,000) 15.778,516 428,988 {307,6861 307,879 15,792,121) Total 9,799,819 307,879 10.107,698 Page 74
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 14,205,649 14,205,649 181,163 181,163 f200,090J (200,090) (4,000,OOOJ (4,000,000) Total 70, 786, 722 10, 186, 722 20. Reconciliation of net movement in funds to net cash flow from operating activities Group 2025 Group 2024 Net expenditure for the year (as per Statement of Financial Activities) {79,025) Adjustments for: Depreciation charges Loss on the sale of fixed assets 296.461 296, 709 5,985 Decreasel(increasel in slocks DecreasellinGreasel in debtors Increaselldecreasel in creditors Discount on Loan Unwinding of discount 17.009} 59.240 192,772} 1341,820) 33,941 (45,245) 25,224 Net cash provided byllused inl operating activities 1130,984) 169.817 Page 75
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 21. Analysis of cash and cash equivalents Group 2025 Group 2024 Cash in hand 179,236 79,550 Total cash and cash equivalents 179,236 79,550 22. Analysis of changes in net debt At1 September 2024 Cash flows New finance Other non- cash At31 changes August 2025 Cash at bank and in hand Bank overdrafts repayable on demand 79,549 99.687 179,236 11,8881 14,000.0001 1.888 after more than one year 12,100.0001 307.879 15,792.1211 3,922,339) 101,575 I2,100,0001 307,879 I5,612,8851 23. Pension commitments The group operales a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to nil 12024.. £2,631 } were payable to the fund at the balan sheet date and are included in creditors. Page 76
THE SPORTS TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 24. Related party transactions The Roger De Haan Charitable Trust is related to The Sports Trust as Sophie Downey is the Stepdaughter of a trustee of TheRoger De Haan Charitable Trust. During the year The Roger De Haan Charitable Trusl made donations of £54,72312024.£83,088) towards the construction and Maintainan of the F51 Urban Skate Park and £40,000 12023.. £25,000) towards the CEO'S salary and general sports provison have also been received from the Roger De Haan Charitable Trust. The Roger De Haan Charitable Trust provided a loan to the Charity during the building phase of F51. The total amount outstanding at the balance sheet date in respect of this loan was £4,000,000 (2024.. £4,000,000). The Roger De Haan Charitable Trust also gave £2,100,000 12024 .Nill towards the purchase of the Folkestone Sports Centre.The total amount outstanding at the balan sheet date was £2,100,000 Both loans have been agreed to have nil Interest. The total due to Roger De Haan Charitable Trust as at 31st August 2025 is £5,792,121 12024 .'£4,000,000) Rachel Haden, a member of the key management team, provides coaching services on a self employed basis and was paid £nil (2024.. £2,494). The total amount outstanding at the balance sheet date was £nil (2024.. £921 }. Michelle Kent, the spouse of Chris Kent, a member of key management team, provided admin support services and was paid £nil 12024.. £1,965). The total amount outstanding at the balance sheet dale was £Nil {2024. £Nill. he Sports Trust Trading Limited is the trading subsidiary of The Sports Trust. During the year, The Sports Trust undertook transactions on behalf of The Sports Trust Trading Limited with net value of £223,21712024'. £126,605}. Within the year, £26,352 {2024'. £1,870) was invoiced from the Sports Trust Trading to The Sports Trust. £7,140 (2024. £nil) was invoiced from the Sports Trust lo the Sports Trust Trading. At the year end, £404,380 {2024'. £200,380} was owed by The Sports Trust Trading Limited to The Sports Trust. Amounts owed to group undertakings are interest-free and repayable as and when funds become available. Page 77
THE SPORTS TRUST IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPORTS TRUST Opinion We have audited the financial statements of The Sports Trust {the 'parent charitable company'} and its subsidiaries (the 'group'l for the year ended 31 August 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balan sheet, the consolidaled statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 August 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) {ISAs IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going con¢em basis of accounting in the preparation of the financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the relevant sections of this report. Page 38
THE SPORTS TRUST IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPORTS TRUST ICONTINUEDI Other information The other information comprises the information included in the annual report other than the financial statements and our auditors, report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, eXpt to the extent olherwise explicitly stated in our report, we do nol express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othenmise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Trustees, report is inconsistent in any material respect with the financial statements., or the parent charitable company has not kept sufficient accounting records., or the parent charitable company financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities slalement, the Trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters relaled to going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Page 39
THE SPORTS TRUST IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPORTS TRUST ICONTINUEDI Auditors, responsibilities for the audit of the financial ststements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they Gould reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. As part of our planning process.. We enquired of management the systems and controls the Charity has in place, the ares of the financial statements that are most suceplible to the risk irregularities and fraud and whether there was any known, suspected or alleged fraud. The Charity did not inform us of any known, suspected or alleged fraud. -we obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant ', FRS 102, SORP 2019 We considered the incentives and opportunities that exist in the Charity, including the extent of management bias, which presenta potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. Using our knowledge of the Charity, together with the discussions held with the Charity , we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. The key procedures we undertook to detect irregularities including fraud during the course of the audit included.. Identifying and testing joumal entries and the overall accounting records, in particular those that were significant and unusual. Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. Performing a physical verification of key assets. Testing key income lines, in particular cut-off, for evidence of managemenl bias. Assessing the extent of compliance, or lack of, with the relevant laws and regulations. Obtaining third-party confirmation of material bank balances and loans. Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates. Documenting and verifying all significant related party balances and transactions. Page 40
THE SPORTS TRUST IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPORTS TRUST ICONTINUEDI Reviewing documentation such as the Board of Directors, and committee minutes, for discussions of irregularities including fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-complian. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or -uklauditorsres onsibilities. This description forms part of our auditors, report. Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. RPG Crouch Chapman LLP Chartered Accountants 40 GrachurCh Street London EC3V OBT Date.. RPG Crouch Chapman LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 41