Charity registration number 1160088 (England and Wales)
SEBASTIAN COE CHARITABLE FOUNDATION CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
SEBASTIAN COE CHARITABLE FOUNDATION CIO
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Harry Sebastian Newbold Coe | |
|---|---|---|
| Colin John Passmore | ||
| Charity registration | England and Wales | 1160088 |
| Principal address | Kings Building | |
| 16 Smith Square | ||
| Westminster | ||
| SW1P 3HQ | ||
| Accountants | Richard Place Dobson | |
| Ground Floor | ||
| 1 - 7 Station Road | ||
| Crawley | ||
| West Sussex | ||
| RH10 1HT |
SEBASTIAN COE CHARITABLE FOUNDATION CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Accountants' report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
SEBASTIAN COE CHARITABLE FOUNDATION CIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The Foundation was registered as a charitable incorporated organisation with the Charity Commission on 22 January 2015.
The trustees present their annual report on the affairs of the charity, together with the financial statements and independent examiner's report for the year ended 30 June 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's foundation model constitution for charitable incorporated organisations, 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 UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
Charitable Objects
The main objects of the Charity as set out in its Constitution are:
-
The relief of poverty, distress and sickness and the protection of health; and
-
The advancement of education (including physical education) and promotion of community participation in healthy recreation through sport.
Introduction
The Trustees remain committed to supporting charities that help children and young people to fulfil their potential, with a particular focus on organisations distinguished by strong leadership, a proven track record and the potential for lasting impact.
The Trustees operate from the central belief that every young person has significant, often unrealised, potential. To that end, the Charity works to raise funds and make grants to high-quality organisations working to improve outcomes for young people across education, sport, skills development and community engagement.
The issues addressed by the Foundation’s charity partners remain widespread across the UK. Around 4.3 million children are currently living in poverty, representing approximately 30% of all children, according to the Department for Work and Pensions. By the end of secondary school, young people from disadvantaged backgrounds are, on average, 18–24 months behind their peers academically². This gap continues to shape unequal access to further education, employment and wider life opportunities.
Recent data also highlights persistent inequalities in attainment and well-being. Pupils eligible for free school meals continue to achieve significantly lower GCSE outcomes than their peers and are less likely to progress to higher education, according to the Education Policy Institute. At the same time, around 1 in 5 children and young people are estimated to have a probable mental health condition³, with higher prevalence among those facing economic disadvantage.
The Trustees remain committed to supporting charities that help children and young people to fulfil their potential, with a particular focus on organisations distinguished by strong leadership, a proven track record and the potential for lasting impact.
The Trustees operate from the central belief that every young person has significant, often unrealised, potential. To that end, the Charity works to raise funds and make grants to high-quality organisations working to improve outcomes for young people across education, sport, skills development and community engagement.
The issues addressed by the Foundation’s charity partners remain widespread across the UK. Around 4.3 million children are currently living in poverty, representing approximately 30% of all children, according to the Department for Work and Pensions. By the end of secondary school, young people from disadvantaged backgrounds are, on average, 18–24 months behind their peers academically². This gap continues to shape unequal access to further education, employment and wider life opportunities.
Recent data also highlights persistent inequalities in attainment and well-being. Pupils eligible for free school meals continue to achieve significantly lower GCSE outcomes than their peers and are less likely to progress to higher education, according to the Education Policy Institute. At the same time, around 1 in 5 children and young people are estimated to have a probable mental health condition³, with higher prevalence among those facing economic disadvantage.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
page 1
SEBASTIAN COE CHARITABLE FOUNDATION CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Activities
Main Activities Undertaken
The Charity exists and operates for the public benefit. Its main activities are fundraising in collaboration with charity partners and the award of grants to registered charities.
The Trustees confirm they have referred to the guidelines contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity's aims and objectives, considering grant awards and managing the Charity’s assets
Fundraising note
The Charity does not solicit funds by means of any mass appeals or generalised campaigns by phone, email, or direct mail. The Charity also does not subcontract any fundraising activities to a third party and does not otherwise fundraise via a general call for support. Funds are instead raised via private donations and events held with partners. The Charity is committed to being accountable and responsible, and if its fundraising approach changes in the future, the Charity will register accordingly with the UK Fundraising Regulator and will be guided by the Code of Fundraising Practice in any fundraising activity. The Charity did not receive any complaints about fundraising activity during the year.
Grant making policy
Grant-making Policy and Aims
The Charity's key geographic area of focus is the United Kingdom; however, grants may also be made to charities that are exclusively charitable under the laws of England and Wales and within the Charity's broad strategy.
The Charity currently takes a proactive approach to identifying organisations and is unable to consider unsolicited applications. The Charity does not make grants to individuals.
The Charity uses its resources where it can be effective in helping children and young people to fulfil their potential. At the Trustees' discretion, grants are also made to organisations working in other spheres.
The Trustees tend to provide long-term, unrestricted funding to a small number of partners, all of whom have a strong track record,great management and a relationship-centered approach to their work. In their grant-making work, the Trustees strive to meet the following values:
-
Be thorough, curious and thoughtful in their questioning whilst ensuring that everything they do and ask for is proportionate and that their processes are as streamlined as possible.
-
Ensure that their methods are transparent, and that information is presented in a digestible manner.
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Apply consistency in their approach. They believe in the power of building strong relationships with partners whilst retaining objectivity in their analysis.
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Approach all interactions with potential and actual grantee partners in a collaborative, supportive and respectful manner.
Achievements and performance
Significant activities and achievements against objectives
During the period, the Foundation moved from a reflective phase into a more active stage of preparation, with trustees taking steps to re-establish a structured and sustainable approach to grant-making.
Trustees agreed a clear preference to deepen impact through continued support to a smaller number of existing partner charities, as well as remain open to compelling new partners, prioritising stronger relationships and a more informed understanding of outcomes. This approach reflects a commitment to effective use of funds while avoiding over-dependence or fragmented giving.
A key focus has been strengthening the Foundation’s decision-making framework. Trustees identified the need for both qualitative and quantitative evidence to support the assessment of smaller charities and to articulate a clearer rationale for funding decisions. Work is underway to develop a concise assessment framework to support this, drawing on external expertise and best practice.
page 2
SEBASTIAN COE CHARITABLE FOUNDATION CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The Foundation has also begun to formalise its approach to governance and charity selection. Trustees agreed that the next phase will include the review and ratification of relevant policies and criteria, alongside a more structured process for identifying and selecting charities. These steps are intended to ensure that future grant-making is consistent, proportionate and aligned with the Foundation’s objectives.
In parallel, trustees considered the importance of establishing a more predictable cycle of activity, including future fundraising and grant deployment, to avoid extended periods without charitable distribution and to strengthen the Foundation’s overall effectiveness.
While no fundraising activities were undertaken during the period, these developments represent a deliberate transition towards a more active phase. The Foundation remains in a stable financial position, maintaining sufficient reserves to meet its ongoing obligations as it prepares to resume grant-making.
Going concern
The Trustees have a duty to consider whether there are material uncertainties about the Charity’s ability to continue as a going concern for at least 12 months from the date that the accounts are authorised for issue (until at least April 2026).
Financial review
Reserves policy
The accounts have been prepared under the accruals basis.
During the period, the total income of the Charity was £nil(2024: £6,000). Total expenditure was £454 (2024: £4,437).
As a result, as at 30 June 2025, the Charity’s total funds were negative £33,334 (2024: £1,412), all of which were unrestricted, as in the prior year.
The Trustees identify 6 months’ operating costs as the appropriate level of reserves in their reserves policy and in the context of the Trustees’ plans for the future activities of the Charity. Based on its historic levels of operating cost, without taking into account the reduction in operating costs arising from the inability to operate its large-scale fundraising activities, this would mean holding approximately £2,000 in reserves.
The Charity’s financial risks relate to risks of damage or injury to third parties or to their premises during the staging of fundraising events. These risks are covered by the Charity’s annual insurance cover.
Plans for future periods
The Charity will continue to realise its charitable objects and to support charities that help children and young people to fulfil their potential. Fundraising activities will be targeted so as to provide resources for donations to such initiatives as may be identified in accordance with the Charity’s grant-making policies.
Structure, governance and management
The Charity is a Charitable Incorporated Organisation (CIO) and is governed by its Constitution.
The Charity does not employ any staff. The trustees who served during the year and up to the date of signature of the financial statements were:
| statements were: | |
|---|---|
| Lord Sebastian Newbold Coe KBE | (Resigned 1 January 2025) |
| Harry Sebastian Newbold Coe | |
| Colin John Passmore | |
| Stephen Kelleher | (Resigned 1 January 2025) |
Recruitment and appointment of trustees
All Trustees are subject to removal by the Board of Trustees. As the Charity continues to operate, the Board will continue to review the skills and experience of Trustees with a view to determining whether the appointment of additional Trustees is warranted. The Trustees are supported in their work by the CSJ Foundation.
Training of new Trustees includes providing them with the Charity’s governing documents (including the Constitution, policies, and minutes of meetings); with copies of recent annual reports and accounts; and with relevant Charity Commission materials and information. Access is also provided to external legal advisors for follow-up discussions as required.
page 3
SEBASTIAN COE CHARITABLE FOUNDATION CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Management
The day-to-day management and operations of the Charity is supported by the CSJ Foundation.
Other matters
The Trustees have adopted a conflicts of interest policy to manage situations where there may be a conflict of interest as a result of the Trustees’ personal interests or roles and responsibilities outside of the Charity. The Trustees maintain a register of their interests which is updated regularly, so as to ensure that any such conflicts are identified and appropriately managed.
The Trustees' Report and financial statements were approved by the board. AMA. .............................. 7) Colin John Passmore Trustee
Date: .............................................29/04/2026
page 4
SEBASTIAN COE CHARITABLE FOUNDATION CIO
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEBASTIAN COE CHARITABLE FOUNDATION CIO FOR THE YEAR ENDED 30 JUNE 2025
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Sebastian Coe Charitable Foundation CIO for the year ended 30 June 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 25 January 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Sebastian Coe Charitable Foundation CIO and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sebastian Coe Charitable Foundation CIO and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Sebastian Coe Charitable Foundation CIO has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Sebastian Coe Charitable Foundation CIO. You consider that Sebastian Coe Charitable Foundation CIO is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Sebastian Coe Charitable Foundation CIO. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Richard Place Dobson
Chartered Accountants Ground Floor 1 - 7 Station Road Crawley West Sussex RH10 1HT Date: ............................29/04/2026
page 5
SEBASTIAN COE CHARITABLE FOUNDATION CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations | 3 | - | 6,000 |
| Expenditure on: | |||
| Raising funds | 4 | - | 2,448 |
| Charitable activities | 5 | 34,746 | 1,989 |
| Total expenditure | 34,746 | 4,437 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (34,746) | 1,563 | |
| Fund balances at 1 July 2024 | 1,412 | (151) | |
| Fund balances at 30 June 2025 | (33,334) | 1,412 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
page 6
SEBASTIAN COE CHARITABLE FOUNDATION CIO
BALANCE SHEET
AS AT 30 JUNE 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 1,948 | 3,272 | |||
| Creditors: amounts falling due within one | 10 | ||||
| year | (35,282) | (1,860) | |||
| Net current (liabilities)/assets | (33,334) | 1,412 | |||
| The funds of the Charity | |||||
| Unrestricted funds | 11 | (33,334) | 1,412 | ||
| (33,334) | 1,412 |
The financial statements were approved by the trustees on .........................29/04/2026
.............................. Colin John Passmore ALA. Trustee
page 7
SEBASTIAN COE CHARITABLE FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
Charity information
The Sebastian Coe Charitable Foundation CIO is a registered charity. The registered office is Kings Building, 16 Smith Square, Westminster, SW1P 3HQ.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date the charity had net liabilities of £33,334. The trustees note that the charity has been supported financially by the family, who have expressed their intention to continue to provide financial support to enable the charity to meet its obligations as they fall due. On this basis, the trustees consider it appropriate to prepare the financial statements on a going concern basis.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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SEBASTIAN COE CHARITABLE FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. 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 are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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SEBASTIAN COE CHARITABLE FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Donations and gifts | - | 6,000 | |
| 4 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staging fundraising events | - | 1,984 | |
| Support costs | - | 464 | |
| - | 2,448 | ||
| 5 | Expenditure on charitable activities | ||
| Grant giving | Grant giving | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Enter ac905 in database | 1 | - | |
| Share of support and governance costs (see note 6) | |||
| Support | 424 | 1,029 | |
| Governance | 34,321 | 960 | |
| 34,746 | 1,989 | ||
| Analysis by fund | |||
| Unrestricted funds | 34,746 | 1,989 |
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SEBASTIAN COE CHARITABLE FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
6 Support costs allocated to activities
| Bank charges Insurance Marketing Subscriptions Governance costs Analysed between: Fundraising Grant giving |
2025 £ - - 389 35 34,321 34,745 - 34,745 34,745 |
2024 £ 2 992 464 35 960 |
|---|---|---|
| 2,453 | ||
| 464 1,989 |
||
| 2,453 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Loans and overdrafts
| Loans from related parties Payable within one year |
2025 £ 30,000 30,000 |
2024 £ - |
|---|---|---|
| - |
This loan is provided to the charity by a member of the family, details of this loan can be found in note 12.
10 Creditors: amounts falling due within one year
| Borrowings Accruals and deferred income |
2025 £ 30,000 5,282 35,282 |
2024 £ - 1,860 |
|---|---|---|
| 1,860 |
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SEBASTIAN COE CHARITABLE FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 July 2024 | Incoming | Resources | At 30 June 2025 |
At 30 June 2025 |
|
|---|---|---|---|---|---|
| resources | expended | ||||
| £ | £ | £ | £ | ||
| General funds | 1,412 | - | (34,746) | (33,334) | |
| Previous year: | At 1 July 2023 | Incoming | Resources | At 30 June 2024 |
|
| resources | expended | ||||
| £ | £ | £ | £ | ||
| General funds | (151) | 6,000 | (4,437) | 1,412 |
12 Related party transactions
During the year ended 30 June 2025, no trustee's were reimbursed. (2024 - One trustee reimbursed expenses totalling £4,324, £2,340 for independent examination fees and £1,984 for event services).
During the year, members of the family paid professional services costs of £30,000 on behalf of the Charity. These payments are treated as a related party loan, repayable on demand and interest free. At the balance sheet date, a further £3,333.33 had been accrued in respect of professional services.
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