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2024-03-31-accounts

BOXING FUTURES LTD

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2024

Registered Company No. 8790750 Registered Charity No. 1162086

BOXING FUTURES LTD

CONTENTS


Reference and Administrative Details
 3

Chair’s Report		 5
A Word from Our CEO
 6

Trustees’ Annual Report and Strategic Report
 7-17

Independent Examiners’ Report
 18

Statement of Financial Activities
 19

Balance Sheet
 20

Notes to the Financial Statements
 21-26

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BOXING FUTURES LTD

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Name
 Boxing Futures Ltd

Charity Registration No
1162086

Co. Registration No		 8790750
(Registered in England
and Wales)

Registered Office		 25 Golden Square, London W1F 9LU.
Trustees/Directors Alison Reid (Chair, appointed April 2023)
Linda Clemett (Treasurer)
Andrew Burley
Ashley Shaner (appointed August 2023)
Carl Eaton-York
Cath Harris (resigned January 2024)
Ed Beecham
Graeme Kirkwood
Iain Crighton
Madeleine Maloney
Chief Executive Officer Anthony York
Company Secretary Linda Clemett
Bankers Barclays Bank plc

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BOXING FUTURES LTD

Chair’s Report

It is with great pleasure that on behalf of the Trustees we submit the Boxing Futures Annual Report for 2023-24.

As I have held the Chair role for a year now it is valuable for me to reflect on the amazing year the charity has had. Reaching more young people, co-designing one-to-one and group sessions, and expanding both our therapeutic approach and Alternative Education Programmes to those in greatest need.

I am immensely proud of the teams who continue to strive to meet the needs of our young people, creating a real sense of community and enabling everyone to be the best version of themselves. Poverty of access to sport, funding and opportunity is blighting the lives of so many young people. Social isolation post-Covid has also exacerbated the need for our approach which offers a structured physical training programme around non-contact boxing. This accessible, affordable, and attainable therapeutic model is essential as it enables everyone to engage in it, to shape their future, build resilience and create strategies to deal with difficulties and have fun.

As a board we are determined to ensure that we obtain the funding necessary to enable the continued expansion of this highly valued and exceptionally impactful service. Our thanks go to our extremely dedicated teams in Boxing Futures for always going above and beyond to ensure we continue to achieve so much and retain key programmes that protect young people. To do this, in an ongoing challenging financial environment, has never been tougher. However, we are confident that the model delivered by Boxing Futures, combined with the outcomes achieved, has the potential to grow, expanding our reach to meet the needs of more children and offer them a safe and inclusive space to learn, laugh, and develop an improved understanding of themselves.

I remain passionately of the view that given the right information, knowledge, physical training and support we have an exceptional generation of young people. Our strategy is to reach more people, celebrate our therapeutic sports model as a route to shaping opportunities for young people to get the best start in life. We will continue to seek partners and supporters, as well as pursuing direct commissioning, to develop a sustainable model for the future.

We hope that you feel inspired, and we look forward to sharing our successes in this coming year.

Ali Reid, Chair of Trustees

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BOXING FUTURES LTD

A Word from Our CEO

Reflecting on our past year, I’m so very proud of all the young people we have worked with and of the Boxing Futures team. It is now a year on from the opening of our boxing gym and inclusive community hub in Peterborough. We are delighted by the way the centre has been able to offer a safe space for local young people and has proved a real bonus to our provision. As a result, we have set up a Youth Council who meet regularly and offer us a unique insight and perspective on how we can improve our services.

Our Alternative Education Provision (AEP) is now firmly established within the county of Cambridgeshire & Peterborough and our ability to offer programmes both at the gym (including 1:1) and off-site at local schools has broadened and enriched our provision. We have reached out and engaged young people who find it very difficult to access standard educational provision and we are very proud of our ability to help students feel connected and part of a supportive community and see their mental and physical health improve. We are pleased to have extended our AEP programme to two schools in Dagenham, London.

BF Community sessions continue to provide young people and their families with a warm, friendly, understanding environment where they can enjoy a healthy physical activity whilst developing a range of soft skills including teamwork, time keeping and commitment. I’ve had the privilege to meet the families and young people at our inclusive hub and gym and am always struck by the overwhelming positive feedback from them.

Our programmes are a valuable high-quality resource for our young people. These programmes focus on the specific needs of the cohort and content is tailored to enable young people to self-evaluate and develop methods to manage their physical and emotional fitness, whilst developing community and new social connections. It is a joy to see so many young people achieve their Duke of Edinburgh awards, attend their residential trips and complete volunteering social impact projects making a real difference in their communities. Our Brothers Through Boxing scale up into London is on track.

At the Board of Trustees’ strategic away day last September, we updated the organisational vision, mission, values and aims to better reflect where we are as an organisation and how we want to shape our growth over the next few years, within a clear therapeutic sports model. Within our BF Education stream, our aim is to become a registered training provider to accredit our programmes, as well as strategically plan and formalise our sports therapeutic model and services.

I would like to acknowledge and thank both past and current Board members, staff, and volunteers for their valued contribution to the organisation, including our Chair, Ali Reid, for her insight and impact upon the charity during the past year in this role.

Thank you to our partners and supporters who share our vision – your support means that together we can continue to make a difference to the lives of young people and be there for those who need us the most.

Anthony York, CEO

6

BOXING FUTURES LTD

TRUSTEES’ ANNUAL REPORT AND STRATEGIC REPORT FOR THE YEAR ENDING 31 MARCH 2024

The trustees are pleased to present their annual directors’ report together with the consolidated financial statements of the charity for the year ending 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 2015).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Boxing Futures Ltd (the Charity) is a company limited by guarantee. It was established in November 2013 and started trading in November 2014 when it received its first donation. The original Articles of Association were revised in March 2015 following a special resolution on 25[th] March 2014, and again in October 2017. Boxing Futures was registered with the Charity Commission on 9[th] June 2015.

Boxing Futures is governed by the Board of Trustees who meet regularly throughout the year to oversee the work of the Charity. Trustees understand their charitable responsibilities as well as responsibilities as directors under the Companies Act.

In June 2015 a Chief Executive Officer was appointed and day-to-day management is delegated to the staff team lead by the Chief Executive.

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BOXING FUTURES LTD

OBJECTIVES AND ACTIVITIES

Charitable Objects

To help young people primarily, but not exclusively, aged between 16 and 25 who have either been in custody or are at risk of going into custody, especially but not exclusively through leisure time activities, to develop their capabilities so that they may grow to full maturity as individuals and members of society.

Our Vision�

A society where young people live full, happy and healthy lives.�

Mission

To empower young people to live full, happy and healthy lives by providing therapeutic non-contact, boxing programmes.�

Values

Boxing Futures:

Outcomes for Beneficiaries

Organisational Aims

  1. To ensure the charity develops the infrastructure and resources to enable us to continue to expand our services.

  2. To develop a sustainable income base for the charity as well as a healthy unrestricted reserve fund to provide a solid base for the future.

  3. To enhance our marketing and communication efforts so that the work of the charity is far reaching with increased impact.

8

BOXING FUTURES LTD

The Need for Boxing Futures

We believe that young people deserve to live happy healthy lives. Unfortunately, too many of them do not. We aim to bridge that gap and assist in creating happier, healthier lifestyles for young people and their families.

Did you know?

The PE & School Sport: The Annual Report 2024[i] from the Youth Sport Trust reported that:

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BOXING FUTURES LTD

Research shows that 50% of all mental health problems start by the age of 14[ii] .

NHS Digital’s 2023 follow up report to the 2017 Mental Health of Children and Young People (MHCYP) survey showed that in 2023, about 1 in 5 children and young people (between 8 and 25 years old) had a probable mental health disorder[iii] .

Happier and Healthier Young People

Evidence shows a positive association between activity levels, mental wellbeing, and resilience. Young people who are regularly active have higher levels of wellbeing compared to those who are not. Physical activity interventions are associated with significant reductions in depressive symptoms in children and adolescents. Physical activity can help young people's cardiovascular fitness, muscular fitness, cardio metabolic health, bone and functional health, cognitive function, and weight status. Being involved in PE and other physical activity is linked to increased confidence, self-belief, and emotional regulation as well as improved learning, memory and educational attainment.

PE, sport, and physical activity within schools may also be able to improve pupil’s behaviour as sport-based interventions are shown to impact positively upon youth crime and violence.

(Youth Sport Trust, PE and School Sport, Annual Report 2024).

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Our Services

We deliver four main areas of work:

Boxing Futures - Programmes

Bespoke programmes, notably longer in length being up to 6 months or rolling, that positively impact physical and mental wellbeing and reduce social isolation and loneliness through the creation of community.

Provision:

These programmes encourage positive mental wellbeing through self-reflection and emotional growth via facilitated topic-focused group discussions, in addition to the physical fitness of non-contact boxing. These programmes focus on the specific needs of the cohort and content is tailored to enable young people to self-evaluate and develop methods to manage their physical and emotional fitness, whilst developing community and new social connections.

Boxing Futures – Education

To provide a positive learning experience for those who find mainstream education challenging.

Provision:

A lternative E ducation P rovision is delivered through a combination of personal development workshops, group discussion sessions and non-contact Boxercise. Our AEP programmes focus on social and emotional goals, practical interventions, and is suitable for students of all ages and abilities. Through mentoring, support, and engagement, we nurture consistency, and compassionately encourage young people to challenge their behaviours and perspectives.

11

BOXING FUTURES LTD

Boxing Futures – Community

A non-contact fitness provision that increases physical wellbeing and encourages community.

Provision:

Under the ‘Community’ banner, young people can enjoy a healthy physical activity whilst developing a range of soft skills including teamwork, communication, time keeping and commitment. The programmes encourage the development of physical fitness, wellbeing, and community through the creation of friendships and positive social interactions.

Boxing Futures – Therapy

Psychotherapeutic Support provides talking therapy to young people that are struggling to understand and regulate their mental health.

Provision :

Qualified psychotherapeutic support which provides young people with additional time to discuss concerns regarding their emotional and mental health, outside of a group dynamic. To instil techniques that help young people change behaviours, thoughts, and emotions that cause problems or distress.

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BOXING FUTURES LTD

ACHIEVEMENT AND PERFORMANCE

The board of trustees are pleased to report our achievement and performance data. This has been a tough year in terms of fundraising, but despite this, we were close to our predicted programme delivery targets. Funds brought forward from previous years enabled us to continue to ensure we still supported our most vulnerable young people.

Our programmes and 1:1 sessions meant we worked with 1,863 individuals during the year (773 in 2022/23), representing a total of 7,852 contacts with young people during the year (5,583 in 2022/23). As in prior years, 2023-2024 exemplified the team’s will and determination to respond to the need of young people in the community.

2023-2024 Programme Reach

----- Start of picture text -----
Delivered Predicted
Total Programmes 73 77
Peterborough 51 57
Cambridge 7 9
London 15 11
1:1 sessions 199 120
Young People worked with across all sites. 1,863
----- End of picture text -----

While we did not quite hit our target in terms of the number of predicted programme deliveries, schools favoured 1:1 sessions for pupils in the last quarter so we exceeded our predicted one to one total by 66%. The data above reflects a 141% increase in participant numbers, due in part to a large number of pupils attending taster sessions at a school Life Skills Day and general improved programme attendances. Our staffing levels have remained unchanged throughout the year.

----- Start of picture text -----
Outcomes for Beneficiaries Monitoring and Evaluation
To improve physical and mental 65% increase in fitness levels and an 62%
fitness via accessible, non-contact improvement in overall mental health.
Boxercise programmes.
To combat loneliness and build 50% reduction in loneliness/ improvement in
relationships amongst socially relationship building.
isolated individuals.
To increase positive social 48% improvement in social connectedness and
connectedness and community community involvement.
involvement.
To strengthen personal autonomy, 66% strengthening of personal autonomy,
resilience and self-belief. resilience and self-belief.
To improve educational outcomes 9 new educational settings: Feedback reflected
through alternative education improved pupil attendance, engagement in
provision. school curriculum & behaviour.
----- End of picture text -----

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Our Impact – As Seen Through Young People’s Stories

Sisters Through Boxing (STB) Junior Programme

Thirteen young females aged 12-14 participated in a 12-week programme based at a secondary school in Peterborough.

Most of the young people on the programme are under pastoral care and receiving support for a range of domestic issues, social and emotional difficulties, behaviour, bullying, and violence.

The STB Junior programme has been carefully reviewed and adapted to meet the needs of these young females as they all share a common ground of challenging behaviour, low attendance, truancy from lessons, and overall avoidance of school and education.

The students discussed issues including emotionally based school avoidance, building positive relationships, anxiety, physical wellbeing and hopes, dreams and goals. By session 3 of the programme, it was clear that the working relationship between us as staff and the young females had formed and trust started to grow. All students were sharing experiences, and most were able to identify certain factors underneath their behaviour, truancy, and avoidance of school. We created a mind map on the white board together. They established a common ground, and the findings showed that anxiety, negative and positive relationships and having English as a second language as well as a lack of consequences for behaviour underpinned their difficulties within and out of school.

“It is a safe space to talk and feeling understood.”

“Without this there will be no other help.”

Sense

The group is a mix of male and females aged between 25 to 60. Their support workers attend each session with them. The service users have a wide range of disabilities. All of them are either deaf or blind, or in some cases both, and with other disabilities such as Down’s syndrome, severe autism, cerebral palsy, and brain damage.

The team noticed that all the service users have improved in many aspects since participating in the programme. Most have improved in their hand eye coordination, balance, and others have progressed in their speech and social interactions with others. It has been great to witness their confidence grow by being more independent and able to walk more freely around a space that they can identify as their safe place, whilst feeling and looking comfortable in doing this.

Social interactions have progressed, and some have been approaching Boxing Futures staff to ask them how they are and what they have been up to. This shows the growth in their confidence and connection within the environment that we have created for them here at Boxing Futures.

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1:1 Sessions

Originally referred to Boxing Futures AEP from his residential children’s home, W.A. was put onto a 1:1 plan as he wasn’t interacting very well with other young people, he lacked confidence and social skills.

When W.A. first came to us all conversations and activities were questioned, it was all a negotiation, there was a clear lack of trust between himself and anyone that tried to help him.

W.A. has never missed a session, unless he was poorly. All the team have seen this gradual growth in confidence. W.A. has learnt to find his voice, starting as a quiet person and has really come into his own throughout his time with us. He voices to us that, within any care meetings about his life going forward, he makes sure he can attend and have the chance to speak. He has told them previously about how good coming to Boxing Futures has been for him and has also successfully fought for more time at home with his family.

W.A. will tell us he enjoys the session and has a lot of involvement with how his sessions run, he will always ask to do certain activities, or work on certain exercises during the session.

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PLANS FOR THE FUTURE

As we look forward, our priority continues to be to serve our communities and deliver services to those that need it most.

Having reviewed the success of the past year, we seek to expand and progress our services and community offer to the benefit of all, ensuring that we are continuously striving for excellence in our delivery, and in doing so, ready ourselves for a positive future and to further strengthen the organisational ability to face any challenges that arise. Embedding these aspirations into a new strategy outlining our ambition for the next 3 years is key.

Our aim for 2024-2025 is to continue building upon on the success of our core programmes and provide key services for our young people, partners, and all stakeholders. We want to increase our AEP services to allow more young people to participate in our programmes. A key aim is also to explore how we can expand our therapeutic services and ensure we are supporting young people with their mental wellbeing and resilience.

We will prioritise team training so that we can continually improve our delivery as well as ensuring that programme processes and resources are utilised. Monitoring and evaluation remain central to our commitment to continuous improvement.

We will seek investment in the core programmes from a range of sources to ensure the future viability of the charity as we continue to thrive.

The table below indicates the number of programmes and session deliveries we aim to achieve this year across all delivery sites.

2024-2025 Programme Delivery

Total Programmes 86
Peterborough 56
Cambridge 12
London 18
One to One sessions 288

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FINANCIAL REVIEW AND RESERVES

In 2023/24 Boxing Futures faced an increase in demand for services, however, as a result of the increasingly competitive fundraising environment and our continued investment in securing income for future years, our voluntary income reduced to £434,253 in the year (£651,044 2023/23), including donations from our benefactor, grants from funders and contracts for services.

To ensure we continued to deliver our vital programmes, we increased income from contracts and utilised the Project Development Fund to maintain and complete essential services to our clients. As a result, expenditure increased to £524,084 (£396,323 in 2022/23), of which 84% was spent on charitable activities and the remainder on fundraising, in line with our decision to invest in fundraising year-on-year so that the financial security of the charity is assured.

Reserves Policy and Funds

The Board of Trustees has set the charity's Reserves Policy at holding not more than six months of budgeted annual expenditure. At the end of the year, the charity held £193,897 (£157,538 in 2022/23) in general reserves, representing four months of budgeted annual expenditure and in line with our Reserves Policy.

Designated and Restricted Funds

The Revert Fund was set up to enable Boxing Futures to return lease premises to their original state at the end of the current lease. At 31 March 2024 £12,000 (£6,800 in 2022/23) was held in the Revert Fund. In addition, £59,296 (£69,462 in 2022/23) was held in the Fixed Asset Fund.

At the end of the year, restricted funds totalled £94,344 (£115,568 at 31 March 2023). The restricted funds are funds received for specific programmes and/or activities that have not yet been completed.

Ali Reid, Chair of Trustees

Date: 25[th] July 2024

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BOXING FUTURES LTD

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BOXING FUTURES LTD

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31[st] March 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102)).

I have no concerns and came across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Lee James Hills ACCA Hills Accountants Limited Greenhill House, First Floor East Wing, Thorpe Road, Peterborough, PE3 6RU Date:

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BOXING FUTURES LTD

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) for the year ended 31 March 2024

Notes
INCOMING RESOURCES
Voluntary income
2
Investment income
Income from charitable activities
3
Other
RESOURCES EXPENDED
Cost of generating voluntary
income
4
Charitable activities
4
Governance
4
Net Income
Transfer between funds
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2024
Total
2023 Total
£
£
£
£
215,600
144,096
359,696
587,618
3,140
-
3,140
525
71,417
-
71,417
60,975
-
-
-
1,926
290,157
144,096
434,253
651,044
79,903
-
79,903
74,656
277,865
165,320
443,185
321,667
996
-
996
-
358,764
165,320
524,084
396,323
(68,607)
(21,224)
(89,831)
254,721
-
-
-
-
(68,607)
(21,224)
(89,831)
254,721
333,800
115,568
449,368
194,647
265,193
94,344
359,537
449,368

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The notes on pages 21-26 form part of these financial statements

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BOXING FUTURES LTD

(a company limited by guarantee) BALANCE SHEET AS AT 31 MARCH 2024

Fixed Assets
7
Current Assets
Debtors and pre-payments
8
Cash at bank and in hand
Creditors: Amounts falling due within one year9
Total Assets Less Current Liabilities
Creditors due after one year
9
NET ASSETS
Funds
Unrestricted Funds – General Reserves
Designated Fund – Fixed Assets
Designated Fund – Project Development
Designated Fund – Revert Fund
Restricted Funds
TOTAL FUNDS		 2024
£
24,427
302,846
327,273
(27,032)		 2024
£
59,296
300,241
359,537
-
359,537
193,897
59,296
-
12,000
94,344
359,537		 2023
£
69,462
16,950
382,407
399,357
(19,451)
379,906
449,368
-
449,368
157,538
69,462
100,000
6,800
115,568
449,368

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by Trustees and signed on their behalf by:

Ali Reid, Chair of Trustees

Date: 25[th] July 2024

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NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

1.1 Basis of preparation of the financial statements

The financial statements have been prepared under the historic cost convention and in accordance with the Charities Statement of Recommended Practice (SORP), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Boxing Futures Ltd meets the definition of a public benefit entity under FRS102. Assets and liabilities are recognised at historical cost, or transaction value, unless otherwise stated in the relevant accounting policy notes.

1.2 Financial reporting standard 102 – reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

1.3 Company Status

The charity is a company limited by guarantee. The members of the company are the Trustees on page 2. In the event of the company being wound up the liability in respect of the guarantee is limited to a maximum of £10 from each member.

1.4 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.5 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.6 Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached have been met, it is probable that the income will be received and the amount can be measured reliably.

1.7 Resources expended

Expenditure is accounted for on an accruals basis. Fundraising costs are those incurred in seeking voluntary contributions. Support costs are those costs incurred directly in support of the expenditure of the objects. Governance costs are those incurred in connection with administration and compliance with constitutional and statutory requirements.

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1.8 Fixed Assets

Fixed Assets are stated at cost. Assets with a cost in excess of £1,000, intended to be of ongoing use to Boxing Futures in carrying out its activities, are capitalised as fixed assets. Depreciation is provided on all tangible fixed assets at rates calculated to spread each asset’s cost, less its estimated residual value at current market prices, evenly over its expected useful economic life. Leasehold improvements are estimated as 10 years, and gym equipment is estimated at 5 years.

1.9 Going Concern

Given the level of reserves and on-going funding the trustees to consider that the charity is financially viable.

2. VOLUNTARY INCOME

Donations from individuals
Grants
BBC Children in Need
Cambridge Community Fund
Cambridge South Rotary
Club
Co-op Foundation
Focus Foundation
Garfield Weston Foundation
Living Sport
Microbyte
Movember Foundation
Police and Crime
Commissioner
Sport England
St. James's Place Charitable
Foundation
Street Games
Tesco
The Casey Trust
The Hedley Foundation
Other		 2024
2024
2024
2023
£
£
£
£
Unrestricted
Restricted
Total
Total
167,784
-
167,784
360,958
-
-
-
10,029
-
-
-
2,642
1,000
-
1,000
-
-
26,044
26,044
23,677
-
-
-
32,409
20,000
-
20,000
-
-
-
-
2,500
9,621
-
9,621
-
-
112,052
112,052
118,084
-
-
-
3,000
-
-
-
9,827
-
2,500
2,500
-
-
-
-
13,886
-
-
-
5,000
-
-
-
2,000
-
3,500
3,500
-
30,621
144,096
174,717
223,054
17,195
-
17,195
3,606
215,600
144,096
359,696
587,618

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3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Boxing Futures:
Community
Education
Therapy		 2024
2024
2024
2023
£
£
£
£
Unrestricted
Restricted
Total
Total
21,523
-
21,523
24,791
48,934
-
48,934
36,184
960
-
960
-
71,417
-
71,417
60,975

4. RESOURCES EXPENDED

Costs of generating
voluntary income
Expenditure on
charitable activities
Governance		 Direct Costs
Support Costs
Staff
Other
Staff
Other
2024
2023
£
£
£
£
£
£
69,683
7,085
3,135
-
79,903
74,656
282,681
86,752
53,744
20,008
443,185
321,667
-
-
-
996
996
-
352,364
93,837
56,879
21,004
524,084
396,323

Staff costs have been allocated in accordance with the amount of time spent on each activity.

5. NET INCOMING RESOURCES IS STATED AFTER CHARGING

Depreciation
Independent examiner’s fee
6. STAFF COSTS
Salaries and Wages
Social Security costs
Consultancy fees
Coaching staff		 2024
£
10,165
1,074
2024
£
362,076
44,121
1,563
2,052
409,812		 2023
£
10,164
Nil
2023
£
244,120
29,451
4,526
2,150
280,247

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During the year the Charity employed thirteen people in eleven posts (10.13 FTE):

Employee Category Number of employees FTE
Senior Management 2 2.00
Finance 1 1.00
Fundraising 2 0.99
Programme and wellbeing managers/coaches 8 6.14

These employees received £362,076 in employee benefits in the year (2023 £244,120). All staff are automatically enrolled into the Government NEST pension scheme after completing 3 months service. No employee received employee benefits of more than £60,000.

The trustees were not paid or received any benefits from the charity (£NIL 2023). Trustees claimed expenses of £996 during the year (£NIL 2023).

7. FIXED ASSETS

Net Book Value b/f
Additions
Depreciation
Net Book Value c/f		 2024
2024
2024
2023
£
£
£
£
Leasehold
Improvements
Gym
Equipment
Total
Total
51,845
17,617
69,462
79,626
-
-
-
-
(5,761)
(4,405)
(10,166)
(10,164)
46,084
13,212
59,296
69,462

8. DEBTORS AND PREPAYMENTS

Debtors
Prepayments
. CREDITORS
Trade Creditors
HMRC		 2024
£
16,338
8,089
24,427
2024
£
17,442
9,590
27,032		 2023
£
15,002
1,948
16,950
2023
£
19,451
-
19,451

9. CREDITORS

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BOXING FUTURES LTD

10. STATEMENT OF FUNDS

0. STATEMENT OF FUNDS
Restricted Funds
Co-op Foundation1
Focus Foundation2
Movember Foundation3
Police and Crime
Commissioner4
Sporting Capital5
St. James’ Place6
The Casey Trust7
The Hedley Foundation8
Western Union9
Unrestricted Funds		 Bal at
1/4/23
Income
Expenditure
Bal at
31/3/24
£
£
£
£
4,756
26,044
(17,491)
13,309
22,569
-
(22,569)
-
65,716
112,052
(102,902)
74,866
3,000
-
(3,000)
-
8,444
-
(8,444)
-
-
2,500
(1,831)
669
2,000
-
-
2,000
-
3,500
-
3,500
9,083
-
(9,083)
-
333,800
290,157
(358,764)
265,193
449,368
434,253
(524,084)
359,537

[1] The Co-Op Foundation awarded a 2-year grant in May 2022 to enable Boxing Futures to set up a pilot programme ‘Chatterbox’, to bring together young people who have been participants of our ‘Sisters Through Boxing’ or ‘Brothers Through Boxing’ programmes and further embed social emotional learning, enhance communication skills, progress their physical fitness and mental wellbeing and provide the tools to enable success in their future education and career goals.

2 The Focus Foundation awarded a grant in June 2022 to enable Boxing Futures to purchase equipment to make the gym more accessible to disabled and disadvantaged children and to fund staff to deliver sessions to young people with disabilities/SEN. In addition, the grant partly funded our psychotherapist, who supports young people with their mental wellbeing.

3 The Movember Foundation awarded a 3-year grant in June 2022 to enable Boxing Futures to increase deliveries of our 6-months ‘Brothers Through Boxing’ (BTB) programmes across Peterborough and Cambridge and to expand into London. The BTB programmes target young men aged between 16-24 years who experience loneliness, social isolation and deteriorating mental wellbeing. In addition, the grant enables us to work with a younger cohort of men from 12-15 years.

4 The Police and Crime Commissioner awarded a grant in March 2023 to enable Boxing Futures to run a ‘Box Out of It’ programme which tackled anti-social behaviour through sport & wellness. The programme was attended by 45 young people aged between 12-17 years.

5 Sporting Capital awarded a grant in December 2021 to be used towards costs for the gym.

6 St. James’ Place Charitable Foundation awarded a grant in February 2024 to be used to support the ‘Sisters Through Boxing’ programme, to cover the cost of one coach and psychotherapist and travel costs.

7 The Casey Trust awarded a grant in April 2022 to be used for a ‘Box Out of It’ programme in Camden. This grant has been repurposed to enable us to deliver a programme within the London area.

8 The Hedley Foundation awarded a grant in November 2023 as a contribution towards a ‘Box Out of It’ programme for young people.

9 Western Union awarded a grant in October 2021 to be used solely towards operational support for existing programmes of Boxing Futures.

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11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March
2024 are:
Net current assets
Fixed assets		 Unrestricted
Restricted
Total
2024
Total
2023
£
£
£
£
205,897
94,344
300,241
379,906
59,296
-
59,296
69,462
265,193
94,344
359,537
449,368

i Youth Sport Trust. (2024, June 14) PE & School Sport: The Annual Report

2024. https://www.youthsporttrust.org/research-listings/research/pe-school-sport-the-annual-report2024 (Accessed 19 June 2024)

ii Kessler, R. C., Berglund, P., Demler, O., Jin, R., Merikangas, K. R., & Walters, E. E. (2005). Lifetime prevalence and age-of-onset distributions of DSM-IV disorders in the National Comorbidity Survey Replication. Archives of general psychiatry , 62 (6), 593–602. https://doi.org/10.1001/archpsyc.62.6.593

iii NHS Digital (2023, 21 Nov). Mental Health of Children and Young People in England, 2023 – wave 4 follow up to the 2017 survey .

https://digital.nhs.uk/data-and-information/publications/statistical/mental-health-of-children-and-youngpeople-in-england/2023-wave-4-follow-up#top (Accessed 19 June 2024)

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