2021-03-31-accounts - London Sport

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Contents			Page
Reference and Administrative details
Trustees' Report			3 —11
Independent	Auditors' Report		12-15
Consolidated	Statement of Financial	Activities	16
Consolidated	and Charity Balance Sheets		17
Consolidated	Statement ofCash Flows		18
Notes to the	Financial Statements		19-31

FOR THE	FOR THE	YEAR ENDED 31 MARCH 2021	YEAR ENDED 31 MARCH 2021	YEAR ENDED 31 MARCH 2021
Status				The organisation is a charitable company			limited		by	guarantee,
				registered in England &	Wales, incorporated			on	10	January 2013
				and registered in England		&Wales as a Charity			on	08January
				2016.
Governing		Document		The company was established under Memorandum						and Articles
				which established the objects and powers			of	the	charitable
				company.
Company		Number		8355406
Charity	Number			1165100
Registered		Office		House of Sport,
				190Great Dover Street,	London SE14YB
Operating		Office		House of Sport,
				190Great Dover Street,	London SE14YB
Chair				Jillian Moore
Trustees				Shaun Richard Dawson	(Vice Chair)
				Joyce Ellen Ryan
				Mark Jopling
				Tanya Joseph
				Tracey McCillen (appointed 1 April 2020)
				Sally Benatar (appointed		1 April 2020)
				Stephen Alambritis (appointed 1 April 2020)
				Charles Boss (appointed		1 April 2020)
				Shaun Danielli (appointed		1 April 2020)
				Naomi Hulston (appointed		1 April 2020)
				Paul Benjamin (appointed		1 April 2020)
Key Management			Personnel	Timothy James Copley
				Susan Hutton
				Tove Okunniwa (resigned		26 July 2021)
				Mark Foster (resigned 15		April 2021)
				Tanya Rabin (appointed	21 June 2021)
				Jill Cochrane (appointed	25 May 2021)
Bankers				Metro Bank, 1 Southampton Row, London			WC16		5HA
Auditors				PKF Littlejohn LLP
				15Westferry Circus
				London E144HD

				Unrestricted	Restricted	Total	Total
				Funds	Funds	2021	2020
			Notes	5'000	5'000	5'000	K'000
INCOME FROM:
Charitable activities
Programme Delivery				217	4,000	4,217	4,382
Other trading activities
Thought Leadership
and Partner Services				201		201	163
Other
Total income				418	4,000	4,418	4,545
EXPENDITURE ON:
Expenditure on Charitable		activities
Delivery ofCharitable	activities			273	4,637	4,910	4,112
Activities and Events				172		172	157
Total expenditure					4,637	5,082	4,269
Net (expenditure)/income				(27)	(637)	(664)	276
Transfers between funds
Net movement in funds				(27)	(637)	(664)	276
Funds brought forward				62	1,067	1,129	853
Funds carried forward				35	430	465	1,129

				Unrestricted	Restricted	Total	Total
				Funds	Funds	2021	2020
			Notes	f'000	E'000	6'000	6'000
INCOME FROM:
Charitable activities
Programme Delivery				217	4,000	4,217	4,382
Other trading activities
Thought Leadership
and Partner Services				201		201	163
Other
Total income				418	4,000	4,418	4,545
EXPENDITURE ON:
Expenditure on Charitable		activities
Delivery ofCharitable	activities			273	4,637	4,910	4,112
Activities and Events				172		172	157
Total expenditure					4,637	5,082	4,269
Net (expenditure)/income				(27)	(637)	(664)	276
Transfers between funds
Net movement in funds				(27)	(637)	(664)	276
Funds brought forward				62	1,067	1,129	853
Funds carried forward				35	430	465	1,129

			2021	2021	2020	2020
			Group	Charity	Group	Charity
		Notes	6'000	5'000	6'000	5'000
FIXEDASSETS
Tangible Fixed Assets			278	278	324	324
Investments
CURRENT ASSETS
Debtors			93	134	338	399
Short term deposits and	cash in hand		1,290	1,283	1,315	1,299
			1,383	1,417	1,653	1,698
CURRENT LIABILITIES
CREDITORS: amounts	falling due
within one year		10	(1,114)	(1,062)	(705)	(688)
NET CURRENT ASSETS			269	355	948	1,010
CREDITORS: amounts	falling due
after one year			(82)	(82)	(143)	(143)
NET ASSETS			465	551	1,129	1,191
FUNDS
Unrestricted funds			35	121	62	124
Restricted funds			430	430	1,067	1,067
TOTAL FUNDS		14	465	551	1,129	1,191

						2021	2020
					Note	Group E'000	Group f'000
Cash flows from operating		activities			20	(25)	345
Cash flows from investing		activities
Interest income
Cash provided	by I(used	in) investing	activities
Increase I(decrease) in cash and cash
equivalents in	the year					(25)	347
Cash and cash	equivalents	at the beginning		of the year		1,315	968
TOTAL CASH	AND CASH	EQUIVALENTS
AT THE END OF THE YEAR						1,290	1,315

									2021	2020
2	TOTAL INCOME								E'000	E'000
	Programme delivery								4,000	4,035
	Rental income								217	348
	Events								9	26
	Services provided to Partners								181	82
	Sponsorship								1	50
	Other								10	4
									4,418	4,545
	Programme	Delivery for Charitable			Activities				2021	2020
	The breakdown was as		follows:						E'000	F'000
	Sport England	-Core Activities							1,603	1,611
	Sport England	-Satellite	Clubs						786	1,112
	Sport England	—Workforce							206	206
	Sport England	- Children	&Young People						217	351
	Sport England	- Tackling	Inequalities						400
	Sport England	- other funds							409	282
	GLA - Major Events								106	183
	GLA - Community Workforce								168	193
	GLA - Others								30
	Others								75	97
									4,000	4,035
3	ANALYSIS OF GROUP		EXPENDITURE
			Direct	Costs -		Direct	Costs-	Grant	Support	2021
				Staff f'000			Other E'000	Funding f'000	Costs E.'000	Total f'000
	Delivery of Charitable
	Activities			2,206			1,052	1,205	447	4,910
	Activities and	Events			103		48		21	172
				2,309			1,100	1,205	468	5,082
			Direct	Costs -		Direct	Costs-	Grant	Support	2020
	Prior Year Comparison			Staff E'000			Other F'000	Funding f'000	Costs F'000	Total E'000
	Delivery ofCharitable Activities			2,127			826	603	556	4,112
	Activities and	Events			45		62		50	157
				2,172			888	603	606	4,269

					2021	2021	2021		2020		2020
Programme					Number		8'000	Number			f'000
Satellite Clubs						132	600		81		340
Tackling Inequalities						37	337
Others						8	268		14		263
						177	1,205		95		603
All grants were paid to		institutions	and	none to individuals.		The	largest grant	amount	paid during		the year
was 688,794to Sported		in relation to		the GLA funded	Community		Workforce	programme.
ANALYSIS OF SUPPORT COSTS
		Management			Finance		Resources	Governance		2021 Total
				6'000	8'000		6'000		f'000		8'000
Delivery of Charitable	Activities					34	269		33		447
Activities and Events						8	13				21
						42	282		33		468
Prior Year Comparison			Management F'000		Finance f'000		Resources 6'000	Governance L"000		2020 Total f.'000
Delivery of Charitable	Activities			110		42	362		42		556
Activities and Events						15	35				50
				110		57	397		42		606
Governance costs include									2021		2020
									8'000		F'000
Staff costs									18		20
Auditors' remuneration:
Audit work —London	Sport								11		13
Audit work - London	Sport Trading								4		4
Other services											5
									33		42

The summary financial	per	form	an	ce ofth	e su	bsidiary alone is	:
							2021	2020
							f'000	f'000
Turnover							190	91
Cost ofsales and administration				costs			(213)	(152)
Net assets brought forward							(57)	(72)
Net profit/(loss)							(23)	(61)
Amount gift aided to the Charity							(5)	(5)
Surplus/(loss) retained	in subsidiary						(85)	(138)
The assets and liabilities ofthe			subsidiary		were:
Current assets							23	25
Current liabilities Total net assets and Aggregate			share capital			and reserves	(108) ~55	(86) (61)
STAFF COSTS AND	NUMBERS						2021	2020
							E'000	E'000
Staffcosts were as follows:
Salaries and wages							1,891	1,786
Social security costs							202	186
Pension contributions							207	200
							2,300	2,172
The number ofemployees		whose		emoluments		for	2021	2020
the year fell within the	following		bands were:				Number	Number
660,001-670,000
670,001 - F80,000
6100,001 - 6110,000
f110,001 - 6120,000
6120,001 - f130,000

	No Trustees received	No Trustees received	remuneration	in the current or prior year.
	The average number		ofemployees	during the year was as follows:	2021	2020
					Number	Number
	Charitable activities				43	44
	Support				2	2
					45	46
8	TANGIBLE FIXEDASSETS
					Leasehold
	Charity	and group			Buildings
					E'000
	Cost
	Opening	Balance as	at 1 April 2020		462
	Purchases during year
	Closing	Balance as	at 31 March 2021		462
	Depreciation
	Opening	Balance as	at 1 April 2020		138
	Charge	during year			46
	Closing	Balance as	at 31 March 2021		184
	NBV as	at 31 March	2021		278
	NBVas	at 31 March	2020		324

		2021	2021	2020	2020
		Group	Charity	Group	Charity
		K'000	K'000	F'000	F'000
Project debtors		37	25	309	300
Prepayments		29	29	12	12
Inter-company	debtors		51		68
Other debtors		27	29		19
		93	134	338	399

	2021	2021	2020	2020
	Group	Charity	Group	Charity
	E'000	8'000	E'000	F'000
Project creditors	179	170	314	305
Other taxation and social security	54	54	91	92
Accru ale	780	777	185	176
Deferred income	71	31	66	66
Other creditors	30	30	49	49
	1,114	1,062	705	688

	2021	2021	2020	2020
	Group	Charity	Group	Charity
	8'000	8'000	L'000	L'000
Leases	82	82	143	143

			2021	2021	2020	2020
			Group 6'000	Charity K'000	Group F'000	Charity f'000
Deferred		income at 1 April	66	66	107	107
Applied	during the year		71	31	66	66
Released		during the year	(66)	(66)	(107)	(107)
Deferred		income at 31 March	71	31	66	66

ANALYSIS OF GROUP NET ASSETS			2021
BETWEEN FUNDS	Restricted	General	Total
	Funds	Funds	Funds
	E'000	E'000	E'000
Tangible fixed assets		278	278
Current assets	430	953	1,383
Current liabilities		(1,114)	(1,114)
Long-term liabilities		(82)	(82)
Net assets at 31 March 2021	430	35	465
			2020
Prior Year Comparison	Restricted	General	Total
	Funds	Funds	Funds
	6'000	E'000	K'000
Intangible fixed assets
Tangible fixed assets		324	324
Current assets	1,067	586	1,653
Current liabilities		(705)	(705)
Long-term liabilities		(143)	(143)
Net assets at 31 March 2020	1,067	62	1,129

ANALYSIS OF FUNDS (continued)
Prior year comparison	Balance at			Balance at
	01-Apr			31-Mar
	2019	Income	Expenditure	2020
	E'000	R'000	E'000	E'000
General funds	264	510	(712)	62
Restricted funds:
Core Activities (Sport England)	108	1,611	(1,510)	209
Satellite Club (Sport England)		1,112	(837)	275
Workforce (Sport England)	46	206	(167)	85
Children &Young People (Sport England	222	351	(406)	167
Other funds - Sport England	84	282	(84)	282
Major Events (GLA)	8	183	(191)
Community Workforce (GLA)		193	(169)	24
Other	121	97	(193)	25
	589	4,035	(3,557)	1,067
Group total	853	4 545	~4.269	1 129

ANALYSIS OF PUBLIC	FUNDING
		Greater	Non
	Sport	London	Public
	England	Authority	Income	Total
	E'000	6'000	E'000	E'000
Revenue Grants	3,621	274	105	4,000
Rental Income			217	217
Other Income			201	201
Total Income	3,621	274	523	4,418
Staff costs	2,152	88	68	2,309
Grant payments	1,057	149		1,205
Other delivery costs	324	56	147	527
Direct Costs	249		324	573
Support costs	463			468
Total Expenditure	4,245	298	539	5,082
Net Income	(624)	(24)	(16)	(664)
Cash and Deferred Income Reconciliation
		Greater	Non
	Sport	London	Public
	England	Authority	Income	Total
	E'000	f'000	6'000	E'000
Opening Balance			66	66
Cash received	3,621	274	523	4,418
Released to P&L	(3,595)	(274)	(544)	(4,413)
Closing Balance	26		45	71

At 3	1 March	2021 the group and charity	had annual
			2021	2020
			6'000	5'000
Due	within 1	year	278	376
Due	between	1 and 2 years	264	278
Due	between	2 and 5years	1,056	792
Due	in more	than 5years		528

				2021	2020
				Group	Group
				U000	L'000
Net income for the year				(664)	276
Add back		depreciation	charge	46	46
Add back		impairment	charge		68
Less interest income					(2)
Decrease		/ (increase)	in debtors	245	105
Increase	/	(decrease)	in creditors	348	(148)
				(25)	345