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2021-03-31-accounts

CHARITY REGISTRATION NUMBER: 1156819

CONSOLIDATED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

ACCESS SPORT CIO

ACCESS SPORT CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Reference and administrative information 1
Chairman’s Report 2
Chief Executive’s Report 3 to 4
Report of the Trustees 5 to 11
Independent Auditor’s Report 12 to 14
Consolidated Statement of Financial Activities 15 to 16
Balance Sheets 17
Consolidated Statement of Cash Flows
18
Principal accounting policies 19 to 22
Notes to the Financial Statements 23 to 31
Detailed Statement of Financial Activities 32
Detail of income from public investors 33

ACCESS SPORT CIO

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

Martin McPhee David Ascott Grace Clancey Tina Kokkinos Mark Burgess Paul Lee John Baker Lauren Toure Helen Killingley Nic Janvier Christine Gibbons Lorraine Bedwell Matthew Dawson Mandana Mehranpour

Chairman (from 4 May 2020) Treasurer Resigned 12 November 2020 Resigned 12 November 2020

Resigned 6 August 2020

Appointed 14 May 2020 Appointed 3 December 2020 Appointed 3 December 2020 Appointed 3 December 2020

Chief Executive Officer Mark Hardie Julian Barrell Helen Rowbotham

Resigned 9 July 2021 Deputy (and Interim) CEO until 1 January 2022 CEO Designate from 1 January 2022

Principal address 3 Durham Yard Teesdale Street London E2 6QF

Registered Charity number 1156819

Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL

Bankers

Lloyds Bank Plc 47 Milsom Street Bath BA1 1DX

Solicitors

Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR

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ACCESS SPORT CIO

CHAIRMAN’S REPORT FOR THE YEAR ENDING 31 MARCH 2021

What a rollercoaster of a year. On one hand, the long-term impact of Covid-19 is only just starting to be understood, having a massive impact on the UK’s physical, social, economic and mental wellbeing. This impact has grown the divide in inequality and inclusion in our population. Those facing hardships simply cannot enjoy the benefits that exercise brings due to the lack of trained coaches, facilities and the equipment needed to participate.

On the other hand, we have all enjoyed a fantastic summer of sport, including the inspirational Olympic and Paralympic games where undoubtedly the winner was grassroots sports and especially BMX. It’s important to remember that our sporting stars such as Kye Whyte, Bethany Shriever, Declan Brooks and Charlotte Worthington all started at a grassroots club or activity somewhere.

Joe McTague, Delivery Director of the Making Trax programme for Access Sport said: “The achievements of Peckham BMX Club inspired Access Sport to become involved in BMX cycling in 2011. From its humble beginnings in Bird in Bush Park, CK Flash, Nigel Whyte (Kye’s Dad) and the team created a wonderful community spirit to give young people from this disadvantaged corner of inner-city London inspirational role models and a positive space to keep active and out of trouble. Kye’s success in Tokyo shows what can be done with the right investment at grassroots level.”

Access Sport’s purpose has never been so important. Our commitment remains stronger than ever to working with young people in under-served communities, and disabled young people, to play a vital role in helping them become more active: improving their health and mental wellbeing; building confidence, self-esteem, and life skills; supporting and developing community-based and volunteer-run sports organisations; helping our nation to become more inclusive and diverse through a sustainable programme of change.

This year, our impact report documents the numerous opportunities and has recorded many highlights as our young people enjoy the benefits of sport participation. In addition, as we continue to play our part in the creation of a more equitable society, we support global initiatives such as the #WeThe15 campaign which brings together international organisations to launch a decade-long campaign to change attitudes and create more opportunities for disabled people. We want to ensure that disabled people are visible and active members within the sport and physical activity sector.

“ I really love the fact that I’m able to move around by myself while I’m RaceRunning. I spend the majority of my time trapped in my wheelchair, so it’s magical that I can be free while I’m on the track every week .”

None of this can be achieved without the support of our dedicated staff, volunteers, supporters, ambassadors, and our partners – Sport England, National Governing Bodies (NGBs) such as British Cycling and England Hockey, and our numerous corporate partners led by Columbia Threadneedle Investments and The Yogscast, along with local authority partners and generous grant-giving trusts who all passionately share and believe in our purpose.

This latest year, one of my first tasks as Chairman with our Trustees was to develop and execute a succession plan for Mark Hardie, our CEO. Mark steps down after 11 years, is still extremely involved with the charity and we are hugely grateful for everything he has done and his ongoing commitment. Our new CEO is Helen Rowbotham, and to have attracted someone of Helen’s calibre and experience to join Access Sport speaks volumes to both who Helen is but also of the strength and quality of Access Sport’s impact on society. It is a very exciting period, despite the huge challenges which we face, and Helen leads a very strong, dedicated and experienced team on that journey as we seek to make community sport as inclusive as it can be for the young people who need it the most.

Martin McPhee Chairman

9[th] December 2021

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ACCESS SPORT CIO

CHIEF EXECUTIVE’S REPORT FOR YEAR ENDED 31 MARCH 2021

"Community sports clubs are the lifeblood of cities, towns and villages across the country, and we must support them as the nation recovers, to allow everyone to take advantage of the incredible wellbeing advantages of sport and recreation."

Access Sport has worked tirelessly this year in challenging circumstances to do everything we can to make sport accessible to those who need it the most.

We measure our impact across three main areas and below is how we performed against each one:

Individuals

Large swathes of the population are missing out on the transformational health, wellbeing and developmental benefits of sport and physical activity, as shown by Sport England's Active Lives Survey.

The report states that there are "significant inequalities" and highlights stubborn inequalities that affect not just the people directly concerned but also their families, their communities and society at large - 62% of people from lower socio-economic groups, 60% from ethnically diverse communities, 57% of females and 53% of disabled people are inactive, not meeting the Chief Medical Officer guidelines of taking part in sport and physical activity for an average of 60 minutes a day. In hard terms this means they are much more likely to face serious health and wellbeing issues in their lifetimes.

Furthermore, with the mental health and wellbeing of children and young people a growing national concern as we re- emerge from the pandemic, community sport can be a lifeline for these individuals for years to come.

Over the past year we gave 5,264 people the opportunity to participate in community sport. Of these:

To achieve this, we supported 196 community sports clubs predominantly in deprived areas to become more inclusive. These clubs are all run by dedicated local volunteers and offer a wide variety of sports. We also delivered targeted outreach activities that connect local communities to schools, Special Educational Needs Centres and Pupil Referral Units to reach underrepresented groups in the deprived communities surrounding these clubs.

Working with our impact measurement partners such as Loughborough University, our team monitored the impact of our clubs & programmes and found that amongst those participating:

Our work to create Young Leaders is continuing to thrive. 70 up skilled through our Young Leaders Academy and Access Sport's Youth Board, both of which provide young people with unique chances to receive tailored training and to share their experiences and opinions.

Finally, in direct response to Covid-19, we distributed 1,115 innovative activity packs – giving young people and their families in some of the most deprived communities the opportunity to remain active during lockdowns.

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ACCESS SPORT CIO

CHIEF EXECUTIVE’S REPORT - CONTINUED FOR YEAR ENDED 31 MARCH 2021

Communities

Research conducted by the Sport and Recreation Alliance reveals that “community sports groups from deprived and ethnically diverse communities face the greatest challenges in returning to organised activity” following the lockdowns. According to their research, “participation opportunities in the most deprived areas of the country are expected to fall by 48% compared with just 2% in the least deprived areas”.

We work to create sustainable, motivated and well-equipped, local organisations, with accessible facilities and activities. This enables the inclusion of young people experiencing unequal access to sport and physical activity.

Access Sport’s team support community sports groups to grow, be more inclusive of under-represented groups and become more sustainable. We build capacity by purchasing new equipment, increasing the number of motivated, inclusion-skilled volunteers and coaches and improve the group's finances.

We create a community of support around the groups including effective connections with local schools, youth groups, local authorities, national governing bodies, Active Partnerships and disabled people's organisations. We also improve access to quality sport facilities in deprived areas by lobbying for greater disabled access and building new free to use facilities.

Achievements this year included:

In direct response to Covid-19, community sports clubs supported by Access Sport distributed 7,400 meals to vulnerable families across London and Manchester.

System Change

Access Sport works intensively in deprived localities, demonstrating what works and using learnings to refine and roll out our award-winning models. This happens at a hyper-local level to develop and activate clubs and facilities, at a city or regional level to pool resources and create competitive and social pathways and also at a national scale – this includes networks of like-minded clubs, coaches and volunteers and partnerships with national, strategically important partners to transfer knowledge and best practice, share resources and collectively advocate for meaningful policy change.

Our emerging national network model is enabling our Cycling and Disability Inclusion programme to expand their geographical reach beyond our four core cities (London, Bristol, Manchester & Oxford) and establish strong, sustainable networks that become greater than the sum of their parts.

Strategic partners supporting our national network programme included the London Marathon Charitable Trust, Spirit of 2012, Sport England, British Cycling, England Hockey, Scottish Hockey, Hockey Wales and Basketball England. These programmes aim to surpass 'tipping points' by creating movements, whereby inclusion becomes the expected norm rather than the ad hoc exception in sport. We now have 45 ‘Flyerz’ inclusive hockey clubs and 48 ‘Making Trax’ inclusive cycling clubs in each respective network.

Looking ahead, our strategy is to expand through working in partnership not just with these sports but other sports and other cities, acting as a key inclusion partner to organisations across the sports eco-system. We look forward to helping all those involved in community sport to ‘build back better’ over the coming years.

Julian Barrell Deputy Chief Executive

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their Annual Report together with the consolidated financial statements of Access Sport CIO and its subsidiary company for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 19 to 22 and comply with the Charity’s Constitution, the Charities Act 2011 and 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 United Kingdom and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisation and Governing Document

Access Sport CIO is a Charitable Incorporated Organisation registered on 28 April 2014. The Chief Executive Officer, reporting to the Board of Trustees, carries out day to day management. The original Access Sport charity, registered number 1104687, transferred all its assets and funds to the new Charity named above as at 1 May 2014. The original charity did not operate after 30 April 2014.

The Board keeps the skills requirements for the Trustee body under review. New Trustees may be sought by open advertisement or through a dialogue with candidates in relevant sectors. The ultimate decision on selection is a matter for the Board of Trustees. When new Trustees are appointed, they are given an introduction to the work of the charity and provided with the information they need to fulfil their roles.

Delegation of Authority

A number of authorities and decisions are reserved to the Board, and these are set out in a document, "Trustee Governance", which was last approved by the Board in June 2020. Most operational decisions are delegated to the Chief Executive in accordance with the strategic, planning, and budgetary parameters and risk management strategy approved by the Board of Trustees.

The functions delegated to the Chief Executive are set out in a “Delegation of Board Powers” policy. The Chief Executive may, in turn, delegate all or any of these functions to other members of staff, whilst retaining responsibility to the Board of Trustees for the exercise of these functions.

There are some issues on which the Board seeks early warning or dialogue, or on which the Executive may seek the Board steer and/or input. Escalation ensures that the Board is made aware of issues of high risk/ high impact, and enables it to be kept informed, explore issues with the Chief Executive and exercise discretion as to whether it may need to formally approve decisions/action. This process may also help to identify any policy issues arising from new or difficult decisions i.e., the outcome of some decision reviews may lead to a review of Access Sport policy.

Decision making

Any decision may be taken either at a meeting of the charity Trustees, or by resolution in writing or electronic form agreed by all of the charity Trustees, which may comprise either a single document or several documents containing the text of the resolution in like form to each of which one or more charity Trustees has signified their agreement.

The charity Trustees may delegate any of their powers or functions to a committee or committees, and, if they do, they shall determine the terms and conditions on which the delegation is made, including the composition of the committee or committees and the procedure for reporting back to the charity Trustees. The charity Trustees may at any time alter those terms and conditions or revoke the delegation.

This power is in addition to the power of delegation in the General Regulations and any other power of delegation available to the charity Trustees, but is subject to the following requirements:

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

In 2020/21 we continued our sub-committee structure (established in 2018/19):

a) Finance and Audit Committee

(David Ascott, Martin McPhee, Christine Gibbons, John Baker, Liz Crossley)

The committee oversees all the financial matters of the charity, working closely with management to:

b) Income Generation Committee

(Greg Searle, Martin McPhee, Mark Burgess, Helen Killingley, John Clark, Matthew Dawson)

The committee works with management to:

c) Nominations Committee

(John Baker, Martin McPhee, Helen Killingley, Christine Gibbons)

The committee oversees the recruitment and selection of Trustees and the Chief Executive Officer.

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES – CONTINUED FOR YEAR ENDED 31 MARCH 2021

Public benefit

The charity has due regard to the guidance published by the Charity Commission on public benefit. To address the requirement to show how the charity has demonstrated public benefit, please refer to the Achievements and Performance section on page 12.

KEY MANAGEMENT

Key management personnel are the directing staff (senior leadership team):

Mark Hardie CEO (Resigned July 2021)
Julian Barrell Deputy CEO (and Interim CEO until 1 January 2022)
Adam Wadley Finance Director (Resigned June 2021)
Nia Rowlands Finance Director (Appointed May 2021)
Sue Wheeler Director of Administration
Joe McTague Delivery Director, Making Trax Cycling
Hayley Barton Delivery Director, Disability Inclusion

Pay and remuneration of the CEO is set by Trustees (nominations committee). Pay and remuneration of other key management personnel is set by the Chair of Trustees and the CEO.

Access Sport’s remuneration policy and practices reflect our charitable objectives of good governance combined with the need to attract and retain high quality personnel. The senior leadership team conduct an annual salary review for all staff (except for the CEO) with increases awarded for individual performance linked to specific objectives and competencies for each role. A review of market rates with reference to available salary surveys is undertaken regularly.

The Trustees regularly review the remuneration package of the CEO and Access Sport’s overall human resources policies, including salary rates, annual increase and staff benefits. Remuneration packages may consist of fixed elements such as salary, pension, and life assurance; and a variable element of a discretionary performance-based bonus payment. Employee benefits are reviewed annually.

The Trustees approve annually the staffing and salary budget and forecast for the year. This includes key management personnel.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Access Sport’s mission is to transform the lives of young people from disadvantaged communities through sport. The charity does this by supporting volunteer-led sports clubs to reach their full potential to connect young people in their communities with the social and health benefits of sport.

Access Sport helps club leaders and volunteers make the most of their passion and dedication, through providing much needed advice, connections, and funding so that the clubs get more young people enjoying the benefits of sport and are sustainable enterprises working with and for the local community.

Access Sport’s work is needed because young people living in disadvantaged areas are more likely to face a range of issues that limit their overall life prospects and are less likely to access the positive benefits of sport, which could help them. Young people from disadvantaged areas are estimated to have approximately 50% of the access to and engagement in sport of those living in more affluent areas. They are more likely to have lower educational attainment, have poorer health and employment prospects and be at greater risk of antisocial behaviour, crime, and drugs.

Communities in disadvantaged areas have a comparative lack of sports clubs, choice of sport and sporting facilities. Local and government spending and benefit cuts have led to youth clubs shutting, youth workers being laid-off and school sport cuts against a rising level of social need.

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES – CONTINUED FOR YEAR ENDED 31 MARCH 2021

Volunteer-led sports clubs are hugely important community resources that often do not reach their full potential for helping young people. With an estimated 160,000 in the UK, volunteer-led sports clubs are a vast resource. However, many are under-resourced and under-connected, particularly in disadvantaged areas, making it difficult for them to outreach, grow and develop sustainability to bring the social and health benefits of sport to young people in their communities.

Access Sport’s work is necessary to address these issues.

ACHIEVEMENTS AND PERFORMANCE

At local level we have developed 196 community sports organisations and supported 5,264 beneficiaries to improve their lives through sport, while at national level we have built networks in hockey and cycling that are changing the way those sports operate. In addition, we have directly responded to the Covid-19 pandemic by supporting the delivery of thousands of food parcels and sports equipment boxes to families most in-need.

GRANT MAKING POLICY

Grants are currently only made from The Angus Irvine Playing Fields Fund, which exists to increase opportunities for young people in disadvantaged areas of the UK to play sport. The fund is available to local community groups and sports clubs based in deprived communities that deliver sports with a focus on including young people (up to the age of 25) who would otherwise be excluded from sport such as:

Applications can be made for grants of up to £5k towards some or all of the following types of projects:

  1. The development and improvement of playing fields and other facilities

  2. The development and training of volunteers including the provision of qualifications

  3. The purchase of specialist disability equipment

  4. The development of long-term sustainability, for example marketing and finance expertise

Currently the fund is focussing on making grants within four main urban areas of strategic focus (Manchester, London, Oxford, Bristol). Applications are welcome from organisations in or serving the most deprived communities within these locations – by which we mean boroughs or wards within the top 20% Indices of Multiple Deprivation.

FINANCIAL REVIEW

As for the majority of charities 2020/21 was a challenging year financially, due to the impact of the Covid-19 pandemic. We were unable to hold physical events such as our annual fundraising dinner, and some regular donors were unable to support us in their usual way. Some projects, including significant amounts on BMX track builds such as Salford (since completed and open to the public from June 2021) and Stockwood, Bristol (completed and open to the public in November 2021) were delayed. However, thanks to maintaining strong relationships and communication with our funders, and by providing innovative solutions such as delivering activities remotely, we were able to maintain reasonable levels of income, and end the year with a relatively small deficit.

Total income for the year was £1,253,112 – this was a 25% reduction on 2019/20 (£1,665,619 - restated) and is due in large part to the delay in track-building activity which has been deferred to 2021/22 (£100,000 for the Salford track, £50,000 for the Stockwood track and £50,000 for a new track in Sheffield were all delayed due to the Covid-19 pandemic) as well as delays to smaller amounts associated with club development and outreach which could not take place in the normal way during the pandemic.

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES – CONTINUED FOR YEAR ENDED 31 MARCH 2021

There was a corresponding reduction in direct delivery expenditure, and we made significant efforts to reduce costs of generating income and in general running costs of the charity. Expenditure for the period totalled £1,304,291 (2019/20: £1,635,814 - restated), which has left a deficit for the year of £51,179 resulting in a £57,416 reduction in unrestricted funds and a small increase of £6,237 in restricted funds (2019/20: unrestricted funds were £236,882 and restricted were £410,575 - both restated).

RESERVES POLICY AND FINANCIAL POSITION

The Trustees recognise the importance of ensuring that sufficient reserves are retained to maintain adequate working capital to fund operational activity, to provide for unseen circumstances and to invest in the development of the charity. Against a history of uneven income streams, from both statutory and other sources, the Trustees aim to maintain reserves equivalent to at least three months operating costs, which is defined as unrestricted expenditure, during the year. The policy will be reviewed before the start of each financial year.

The Covid-19 pandemic has negatively impacted unrestricted reserves during 2020/21, but with a reduction in overall expenditure, we have maintained free reserves of £160,323 which is equivalent to almost 7 months of unrestricted expenditure based on 2020/21 levels. The Trustees feel that this level of reserves is appropriate and not excessive and is required to mitigate the additional risks and uncertainties created by the Covid-19 pandemic, in particular in the raising of unrestricted income, as well as being able to cover any small delays in renegotiating upcoming multi-year agreements.

Net assets at the end of 2020/21 are £596,278 (2019/20: £647,457 restated). The cash balance is healthy and is £87,905 higher than at the end of 2019/20, however accrued income has fallen by a similar level meaning little change to the value of current assets, and creditors (accruals and deferred income) have increased by £39,415.

RISK MANAGEMENT

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees confirm that major risks have been reviewed and system and procedures have been established to manage those risks. The Trustees are of the opinion that the reserves and known subsequent income are sufficient for at least short to medium term financial requirements.

The major risks we currently face, and the mitigations we have put in place are:

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

FUNDRAISING

Access Sport places utmost importance on adhering to all recognised standards of fundraising governance. Fundraising is a core item at every Trustee meeting with a full update by the Deputy CEO; in addition, we have a sub-committee of Trustees who form our ‘Income Generation Team’ who meet quarterly with the Deputy CEO to scrutinise income and monitor fundraising performance.

The majority of our income is received from project grants, followed by corporate partnership income and events fundraising. In order to build financial resilience, we are currently growing our unrestricted, voluntary income.

We use consultant fundraisers in Bristol and Manchester, where their specialised knowledge of local trusts and foundations is required. The consultant fundraisers do not approach the general public for donations.

We subscribe to the Fundraising Regulator, and as such, all our fundraising activity conformed to the recognised standards including donor care and data management. We did not make any cold calls to individuals, and we received no complaints about any aspect of our fundraising activities.

SUBSIDIARY UNDERTAKING

Access Sport CIO is parent to Access Sport BMX CIC which is a registered Community Interest Company (Company number 10603583). The subsidiary is limited by guarantee. Access Sport CIO holds the voting rights and is the guarantor. The net assets are included in the group balance sheet, and the income and expenditure are included in the group Statement of Financial Activities but are not part of the charity accounts.

FUTURE PLANS

Looking forward to the next phase of our growth strategy (to 2025), we plan to further strengthen our relationships with key funders, working in partnership with them to grow our networks geographically and to cover more sports. We intend to grow our unrestricted income streams in order to build up our reserves, with the aim of being able to cover at least three months operating costs. We will also be focussing on increasing our social media presence, brand awareness and digital fundraising.

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ACCESS SPORT CIO

REPORT OF THE TRUSTEES - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Approved by the Trustees on 9[th] December 2021 and signed on their behalf by:

Martin McPhee Chairman

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ACCESS SPORT CIO

Opinion

We have audited the accounts of Access Sport CIO (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the group and parent charity statement of financial activities, balance sheets, statement of cash flows, the principal accounting policies and the notes to the accounts. 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 accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the 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 and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report and accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, 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.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ACCESS SPORT CIO - CONTINUED

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance 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 could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

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: How the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ACCESS SPORT CIO - CONTINUED

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 25 January 2022

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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ACCESS SPORT CIO

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2021

GROUP
Notes
Income from:
Donations
1
Charitable activities
2
Other trading activities
18
Investments
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
- Programme activities
- Grants payable
Other trading activities
6
Total expenditure
Reconciliation of funds:
Prior year restatement
19
Net (expenditure) income for the
year, being net movement in funds
Total fund balances brought
forward at 1 April as restated
Total fund balances carried
forward at 31 March
Total fund balances brought forward
at 1 April as previously disclosed		 Unrestricted
funds
£
203,141
-
22,090
130
225,361
160,313
100,374
-
22,090
282,777
57,416 )
(
249,757
12,875 )
(
236,882
179,466		 Restricted
funds
£
134,137
893,614
-
-
1,027,751
-
984,906
36,608
-
1,021,514
6,237
421,409
10,834 )
(
410,575
416,812
2021		 Total
funds
£
337,278
893,614
22,090
130
1,253,112
160,313
1,085,280
36,608
22,090
1,304,291
51,179 )
(
671,166
23,709 )
(
647,457
596,278		 Restated
2020
Total
funds
£
324,626
1,336,864
3,920
209
1,665,619
171,430
1,351,647
108,817
3,920
1,635,814
29,805
617,652
-
617,652
647,457

All of the charity’s activities were from continuing operations in the above two financial periods.

The charity has no recognised gains or losses other than those included in the Statement of Financial Activities. The notes on pages 23 to 31 form an integral part of these financial statements.

15

ACCESS SPORT CIO

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2021

GROUP (COMPARATIVE)
Notes
Income from:
Donations
1
Charitable activities
2
Other trading activities
18
Investments
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
- Programme activities
- Grants payable
Other trading activities
6
Total expenditure
Reconciliation of funds:
Net (expenditure) income for the year,
being net movement in funds
Total fund balances brought forward at
1 April
Total fund balances carried forward at
31 March		 Unrestricted
funds
£
324,626
-
3,920
209
328,755
171,430
118,100
-
3,920
293,450
35,305
201,577
236,882		 Restricted
Total
funds
funds
£
£
-
324,626
1,336,864
1,336,864
-
3,920
-
209
1,336,864
1,665,619
-
171,430
1,233,547
1,351,647
108,817
108,817
-
3,920
1,342,364
1,635,814
5,500 )
(
29,805
416,075
617,652
410,575
647,457
2020 (restated)

16

ACCESS SPORT CIO

BALANCE SHEETS AT 31 MARCH 2021

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Debtors
12
Cash at bank
Liabilities
13
Net current assets
Net assets
16
The funds of the group/charity:
Unrestricted funds
14
Restricted funds
15
Total funds
Creditors: amounts falling due within
one year
Total assets less current liabilities		 2021
2020
(as restated)
£
£
19,143
26,650
76,266
168,428
593,283
505,378
92,414
52,999
577,135
620,807
596,278
647,457
596,278
647,457
179,466
236,882
416,812
410,575
596,278
647,457
Group		 Charity Charity
2021
£
19,143
76,266
593,283
92,414
577,135
596,278
596,278
179,466
416,812
596,278		 2021
£
19,143
78,981
587,246
89,102
577,125
596,268
596,268
179,456
416,812
596,268		 2020
(as restated)
£
26,650
167,655
505,357
52,215
620,797
647,447
647,447
236,872
410,575
647,447

Approved by the Trustees on 9th December 2021 and signed on their behalf by:

Martin McPhee Chairman

The notes on pages 23 to 31 form an integral part of these financial statements.

17

ACCESS SPORT CIO

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDING 31 MARCH 2021

Notes
Cash flows from operating activites:
Net cash provided by/ (used in) operating activities
A
Cash flows from investing activities:
Investment income
Purchase of tangible fixed assets
Net cash (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April
B
Cash and cash equivalents at 31 March
B		 2021
£
92,064
130
4,289 )
(
4,159 )
(
87,905
505,378
593,283		 2020
£
9,607 )
(
209
17,314 )
(
17,105 )
(
26,712 )
(
532,090
505,378

Notes to the statement of cash flows for the year to 31 March 2021

A Reconciliation of net movement in funds to net cash provided by (used in) operating activities

Adjustments for:
Depreciation charge
Investment income
Decrease/ (increase) in debtors
Increase in creditors
Net cash provided by/ (used in) operating activities
B
Cash at bank and in hand
Total cash and cash equivalents
Net movement in funds (as per the statement of
financial activities)
Analysis of cash and cash equivalents		 2021
£
51,179 )
(
11,796
130 )
(
92,162
39,415
92,064
2021
£
593,283
593,283		 2020
(as restated)
£
29,805
12,995
209 )
(
55,768 )
(
3,570
9,607 )
(
2020
£
505,378
505,378

18

ACCESS SPORT CIO

PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDING 31 MARCH 2021

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Statutory information

Access Sport CIO is a Charitable Incorporated Organisation registered in England and Wales. The charity's registered number is 1156819 and its registered office is 3 Durham Yard, Teesdale Street, London E2 6QF.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2021.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements. The financial statements are rounded to the nearest pound.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS 102); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); and the Charities Act 2011.

The prior year comparatives have been restated due to changes made in the presentation of the accounts to ensure compliance with the Charities SORP, some reclassification of income and expenditure (predominantly the introduction of other trading income/expenditure to cover the business activity carried out by Access Sport BMX CIC), and also reclassification of several restricted donations to charitable activities (see note 19).

Access Sport CIO meets the definition of a public benefit entity under FRS 102.

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The Trustees of the charity have concluded that there are no 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 are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Basis of consolidation

The group financial statements consolidate the results of the charity and its wholly-owned subsidiary Access Sport BMX CIC on a line by line basis.

19

ACCESS SPORT CIO

PRINCIPAL ACCOUNTING POLICIES - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.

Income comprises donations, income from charitable activities and investment income.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Income from charitable activities is normally subject to conditions that require a level of performance before the charity is entitled to the funds. In these cases the income is deferred and not recognised or accrued until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

20

ACCESS SPORT CIO

PRINCIPAL ACCOUNTING POLICIES - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment 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.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

All expenditure is stated inclusive of irrecoverable VAT.

Tangible fixed assets

All assets costing more than £500 and with an expected useful life exceeding one year are capitalised.

Depreciation is provided at the following straight-line annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements - over 6 years Equipment - over 4 years

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand.

Creditors and provisions

Creditors and provisions 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. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

21

ACCESS SPORT CIO

PRINCIPAL ACCOUNTING POLICIES - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

Funds

Unrestricted funds are those available for the general purposes of the Charity. Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds are those funds whose purposes have been restricted by the donor to specific areas as set out in note 15.

Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the pension scheme in respect of the year.

Taxation

Access Sport CIO is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities.

Access Sport BMX CIC expects to transfer any profit made via gift aid to Access Sport CIO and therefore is not expected to incur any corporation tax liability.

Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 12. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 13. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Leases

Rentals under operating leases are charged on a straight line basis over the lease term.

22

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2021

1. Donations

General donations
Restricted donations
Trusts and foundations
Corporate partner fundraising
Annual dinner and auction
Community fundraising - organised challenges		 Unrestricted
Funds
£
34,398
-
13,000
78,679
48,819
28,245
203,141		 Restricted
Funds
£
-
134,137
-
-
-
-
134,137		 2021
£
34,398
134,137
13,000
78,679
48,819
28,245
337,278		 2020
(as restated)
£
6,786
-
12,488
263,512
25,823
16,017
324,626

2. Charitable activities

Inclusive Cycling Programme
Disability Inclusion Programme
Multi-sport Inclusive Club Development Programme
Inclusive Volunteering Programme
Angus Irvine Playing Field Fund		 Unrestricted
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£
451,766
318,901
92,620
19,425
10,902
893,614		 2021
£
451,766
318,901
92,620
19,425
10,902
893,614		 2020
(as restated)
£
651,859
245,606
142,076
77,145
220,178
1,336,864

Funding for charitable activities received during the year from Government sources totalled £232,771 (2020 £614,802).

2020 figures have been restated for notes 1 and 2 due to a change in presentation in the financial statements (see note 19)

3. Investment Income

Deposit account interest

Unrestricted
Funds
£
130
130		 Restricted
Funds
£
-
-		 2021
£
130
130		 2020
£
209
209

23

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

4. Expenditure on raising funds

Staff costs (see note 9)
Fundraising expenses
Annual dinner expenses
Support costs (see note 7)		 2021
£
74,318
73,191
6,961
5,843
160,313		 2020
(as restated)
£
80,534
72,470
6,997
11,429
171,430

5. Expenditure on charitable activities

Staff costs (see note 9)
Direct programme activity
Grants to clubs
Support costs (see note 7)		 Programme
activities
£
714,132
270,774
-
100,374
1,085,280		 Grants
payable
£
-
-
36,608
-
36,608		 2021
£
714,132
270,774
36,608
100,374
1,121,888		 2020
(as restated)
£
679,099
554,448
108,817
118,100
1,460,464

Grants to clubs are all made by the Angus Irvine Playing Fields Fund and there are no staff costs apportioned here. All support costs apportioned to charitable activities relate to programme activity (see note 7).

6. Expenditure on other trading activities

Staff costs (see note 9)
Other direct costs		 2021
£
437
21,653
22,090		 2020
(as restated)
£
-
3,920
3,920

24

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

7. Support costs

Staff costs (see note 9)
Other direct costs
Depreciation costs
Governance costs (see note 8)		 Raising
funds
£
289
4,368
649
537
5,843		 Charitable
activities
£
4,969
75,034
11,147
9,224
100,374		 2021
£
5,258
79,402
11,796
9,761
106,217		 2020
(as restated)
£
40,103
72,864
12,995
3,567
129,529

Staff costs are allocated directly to the activities they relate to, with any remaining salary costs being allocated to support costs, and then apportioned with other support costs.

Depreciation costs are allocated entirely to support costs and then apportioned with other support costs.

Governance costs are allocated entirely to support costs and then apportioned with other support costs.

Support costs are apportioned across raising funds and charitable activities based on the Full Time Equivalent (FTE) of staff time worked on each activity.

8. Governance costs

Auditor’s remuneration
- Audit fees - current year
- Audit fees - under accrued from prior year
Legal and bank fees		 2021
£
7,000
2,535
226
9,761		 2020
£
3,345
-
222
3,567

9. Staff costs and numbers and remuneration of key management personnel

The average number of persons working for the charity during the year was as follows:

2021
22		 2020
22

The aggregate amount of salaries, wages and related costs of employees is comprised as follows:

Salaries and wages
Social security costs
Pension costs		 2021
£
705,753
72,900
15,492
794,145		 2020
(as restated)
£
713,836
70,908
14,992
799,736

One employee (2020: one employee) received annual emoluments of more than £60,000 but not more than £70,000. One employee (2020: one employee) received annual emoluments of more than £70,000 but not more than £80,000.

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise 6 members of staff (see p.7 for the definition of key management personnel). The total remuneration (including taxable benefits and employer's pension contributions) of the key management personnel for the year was £356,903 (2020: £323,296).

25

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

10. Leasing Commitments

The future total minimum payments to which the Group is committed as at 31 March 2021 under operating lease agreements are as follows:

Office premises
Net present value of total lease commitments due:
Within one year
Between one and two years
Between two and five years
Tangible fixed assets
Group and charity
Leasehold
improvements
£
Cost or valuation
At 1 April 2020
34,120
Additions
-
Disposals
-
At 31 March 2021
34,120
Depreciation
At 1 April 2020
22,749
Charge for the year
5,687
Eliminated on disposal
-
At 31 March 2021
28,436
Net book values
At 31 March 2021
5,684
At 31 March 2020
11,371		 2021
£
25,471
25,000
4,167
54,638
Equipment
£
48,339
4,915
2,728 )
(
50,526
33,060
6,109
2,102 )
(
37,067
13,459
15,279		 2020
£
24,805
25,000
29,167
78,972
Total
£
82,459
4,915
2,728 )
(
84,646
55,809
11,796
2,102 )
(
65,503
19,143
26,650

11. Tangible fixed assets

26

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

12. Debtors

Other debtors
Prepayments
Accrued income		 2021
(as
restated)
£
£
10,149
1,634
11,800
19,681
54,317
147,113
76,266
168,428
Group		 Charity Charity
2021
£
10,149
11,800
54,317
76,266		 2021
£
19,974
11,800
47,207
78,981		 (as
restated)
£
861
19,681
147,113
167,655

13.a. Creditors: amounts falling due within one year

Trade creditors
Other creditors
Taxation and social security
Accruals
Deferred income (see note 13.b)		 2021
(as
restated)
£
£
655
6,124
3,029
2,775
20,613
21,774
43,367
22,326
24,750
-
92,414
52,999
Group		 Charity Charity
2021
£
655
3,029
20,613
43,367
24,750
92,414		 2021
£
655
3,029
17,301
43,367
24,750
89,102		 (as
restated)
£
6,124
2,775
20,990
22,326
-
52,215

13.b. Deferred income

Brought forward at 1 April
Received in the year
Expended in the year
Carried forward at 31 March		 2021
(as
restated)
£
£
-
-
24,750
-
-
-
24,750
-
Group		 Charity Charity
2021
£
-
24,750
-
24,750		 2021
£
-
24,750
-
24,750		 (as
restated)
£
-
-
-
-

27

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

14. Unrestricted funds

General fund
General fund
15.
Restricted funds
Inclusive Cycling Programme
Disability Inclusion Programme
Multi-sport Inclusive Club Development
Programme
Inclusive Volunteering Programme
Angus Irvine Playing Field Fund
Inclusive Cycling Programme
Disability Inclusion Programme
Multi-sport Inclusive Club Development
Programme
Inclusive Volunteering Programme
Angus Irvine Playing Field Fund		 Balance
as at
1 April
2020
(as restated)
£
236,882
236,882
Balance
as at
1 April
2019
£
201,577
201,577
Balance
as at
1 April
2020
(as restated)
£
88,743
44,153
40,799
39,113
197,767
410,575
Balance
as at
1 April
2019
£
218,210
68,659
26,817
10,815
91,574
416,075		 Income
£
225,361
225,361
Income
(as restated)
£
328,755
328,755
Income
£
501,766
403,038
92,620
19,425
10,902
1,027,751
Income
(as restated)
£
651,859
245,606
142,076
77,145
220,178
1,336,864		 Expenditure
£
282,777 )
(
282,777 )
(
Expenditure
(as restated)
£
293,450 )
(
293,450 )
(
Expenditure
£
450,771 )
(
359,756 )
(
115,834 )
(
58,538 )
(
36,615 )
(
1,021,514 )
(
Expenditure
(as restated)
£
781,326 )
(
270,112 )
(
128,094 )
(
48,847 )
(
113,985 )
(
1,342,364 )
(		 Gains/
losses
£
-
-
Gains/
losses
£
-
-
Gains/
losses
£
-
-
-
-
-
-
Gains/
losses
£
-
-
-
-
-
-		 Balance
as at
31 March
2021
£
179,466
179,466
Balance
as at
31 March
2020
(as restated)
£
236,882
236,882
Balance
as at
31 March
2021
£
139,738
87,435
17,585
-
172,054
416,812
Balance
as at
31 March
2020
(as restated)
£
88,743
44,153
40,799
39,113
197,767
410,575

28

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

15. Restricted funds continued

Description of Restricted Funds:

Inclusive Cycling Programme - developing community cycling tracks, clubs and assets – currently in London, Bristol and developing a national network and growing into other core cities (Manchester and Sheffield). Main funders are Sport England and London Marathon Trust, with contributions from local authorities, and several trusts and foundations including the Garfield Weston Foundation.

Disability Inclusion Programme - enabling community sports clubs and organisations to include disabled participants, with a multisport place-based focus (currently in London and Bristol) alongside national networks focusing on specialist-sports (currently cycling and hockey). Main funders are Sport England, Yogscast Jingle Jam, BT Supporters Club, St James Place Foundation, Spirit of 2012, and the City Bridge Trust.

Multi-sport Inclusive Club Development Programme - capacity-building inclusive, community sports clubs in deprived urban communities. Currently in Manchester, Oxford, and growing into London and other strategic locations via the Angus Irvine Playing Fields Fund. Main funders include Trafford Council, Oxford Council and the Oglesby Trust.

Inclusive Volunteering Programme - recruiting and developing new volunteers and designing new local volunteer development models, recruiting and training young sports leaders from deprived backgrounds who can inspire others and help advocate for change. Funding to date was from Sport England (Team 100).

Angus Irvine Playing Field Fund - The Playing Fields Legacy Fund was a charity established by the late Angus Irvine in 2012, prompted by what he felt was a failure of the 2012 London Olympics to provide the promised legacy for grass-roots sport. In order to fully capitalise on what Angus achieved, in 2018 the trustees decided to join forces with Access Sport and form a new fund, through which Access Sport will act as custodian of Angus's legacy for the long-term - ensuring the remaining funds reach the projects that need them the most and working with Angus's children and grandchildren to continue the remarkable fundraising that Angus started.

16. Analysis of group net assets between funds

Fund balances at 31 March 2021 are
represented by:
Tangible fixed assets
Net current assets
Total net assets
Fund balances at 31 March 2020 are
represented by:
Tangible fixed assets
Net current assets
Total net assets		 General
Funds
£
19,143
160,323
179,466
General
Funds
(as restated)
£
26,650
210,232
236,882		 Restricted
funds
£
-
416,812
416,812
Restricted
funds
(as restated)
£
-
410,575
410,575		 2021
Total
£
19,143
577,135
596,278
2020
Total
(as restated)
£
26,650
620,807
647,457

29

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

17. Investment in subsidiary

The charity is parent to Access Sport BMX CIC which is a registered Community Interest Company (Company number 10603583). The subsidiary is limited by guarantee. Access Sport CIO holds the voting rights and is the guarantor. The net assets are included in the group balance sheet, and the income and expenditure are included in the group Statement of Financial Activities but are not part of the charity accounts.

a Summary of profit and loss account for Access Sport BMX CIC

Turnover
Cost of sales
Gross profit
Other expenses
Net profit before taxation
Gift aid to Access Sport CIO
Profit after taxation		 2021
£
22,090
22,090 )
(
-
-
-
-
-		 2020
(as restated)
£
3,920
3,920 )
(
-
-
-
-
-

b Summary of balance sheet for Access Sport BMX CIC

Tangible fixed assets
Debtors
Cash at bank and in hand
Current assets
Creditors
Net assets
Aggregate capital and reserves		 2021
£
-
12,312
6,037
18,349
18,339 )
(
10
10		 2020
(as restated)
£
-
784
21
805
795 )
(
10
10

c Restatement of prior year for Access Sport BMX CIC

A review was carried out during preparation of the 2020/21 financial statements regarding what income and expenditure should be classed as relating to Access Sport BMX CIC, and what belongs to Access Sport CIO. The review determined that transactions required reclassification to ensure they were recognised in the entity where the substance of the transaction was most appropriate. This resulted in NIL effect to net assets and reserves.

30

ACCESS SPORT CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDING 31 MARCH 2021

18. Related parties

a Trustees or connected persons

No trustee received any form of emoluments from the charity during the year (2020: £nil). No trustee has been reimbursed for expenses incurred during the year (2020: £111 for one Trustee). Trustees donated a total of £20 to the charity during the year (2020: £nil).

b Other related parties

The ultimate parent undertaking (Parent Charity) is Access Sport CIO.

The charity has taken the exemption afforded by FRS 102 to disclose related party transactions with Access Sport BMX CIC as it is a wholly owned subsidiary of the charity.

19. PRIOR YEAR RESTATEMENT

Notes
Fund balances at 1 April 2020 as previously stated
Prior year restatement
Being reduction in accrued income
a
Being inclusion of annual leave accrual
b
Fund balances at 1 April 2020 as restated		 Unrestricted
funds
£
249,757
-
12,875 )
(
236,882		 Restricted
funds
£
421,409
10,834 )
(
-
410,575		 Total
funds
£
671,166
10,834 )
(
12,875 )
(
647,457

31

ACCESS SPORT CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2021

CHARITY
Notes
Income from:
Donations
1
Charitable activities
2
Investments
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
- Programme activities
- Grants payable
Total expenditure
Reconciliation of funds:
Prior year restatement
19
Net (expenditure) income for the
year, being net movement in funds
Total fund balances brought
forward at 1 April
Total fund balances carried forward
at 31 March
Total fund balances brought forward
at 1 April as previously disclosed		 Unrestricted
funds
£
203,141
-
130
203,271
160,313
100,374
-
260,687
57,416 )
(
249,747
12,875 )
(
236,872
179,456		 Restricted
funds
£
134,137
893,614
-
1,027,751
-
984,906
36,608
1,021,514
6,237
421,409
10,834 )
(
410,575
416,812
2021		 Total
funds
£
337,278
893,614
130
1,231,022
160,313
1,085,280
36,608
1,282,201
51,179 )
(
671,156
23,709 )
(
647,447
596,268		 Restated
2020
Total
funds
£
324,626
1,336,864
209
1,661,699
171,430
1,351,647
108,817
1,631,894
29,805
617,642
-
617,642
647,447

All of the charity’s activities were from continuing operations in the above two financial periods.

The charity has no recognised gains or losses other than those included in the Statement of Financial Activities.

This page does not form part of the audited financial statements

32

ACCESS SPORT CIO

DETAIL OF INCOME FROM PUBLIC INVESTORS FOR THE YEAR ENDING 31 MARCH 2021

INCOME
Brought forward from 2019/20
Prior year restatement (see note 19)
Brought forward from 2019/20 (as restated)
Revenue
Total
EXPENDITURE
Direct Project Costs
Salaries
Overheads
Total
Carry forward to 2021/22		 Sport
England
ESC
Lottery
Councils
Other
Total
13,643
97,697
14,277
295,792
421,409
-
-
10,834 )
(
-
10,834 )
(
13,643
97,697
3,443
295,792
410,575
60,450
92,625
79,696
794,980
1,027,751
74,093
190,322
83,139
1,090,772
1,438,326
10,131
42,726
16,946
199,446
269,249
38,388
87,923
60,570
527,251
714,132
2,709
4,243
5,623
25,558
38,133
51,228
134,892
83,139
752,255
1,021,514
22,865
55,430
-
338,517
416,812

This page does not form part of the audited financial statements

33