2023-03-31-accounts - London Sport

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Contents		Page
Reference and Administrative details
Trustees' Report
Independent	Auditors' Report
Consolidated	Statement ofFinancial Activities	15
Consolidated	and Charity Balance Sheets	16
Consolidated	Statement ofCash Flows	17
Notes tothe	Financial Statements	18-30

LONDON SPORT	LONDON SPORT	LONDON SPORT	LONDON SPORT
REFERENCE AND ADMINISTRATION DETAILS
FOR THE YEAR ENDED 3'I MARCH 2023
Status			The organisaiion isa charitable company limited by guarantee, registered in England &Wales, incorporated on 10January 2013 and registered in England &Wales as a Charity on 8January 2016.
Governing	Document		The company was established under Memorandum and Articles which established the objects and powers ofthe charitable
			company.
Company	Number		08355406
Chadity Number			1165100
Registered	Office		House ofSport,
			190Great Dover Street, London SE14YB
Operating	Office		House ofSport,
			190Great Dover Street, London SE14YB
Chair			Jillian Moore
Trustees			Sally Benatar -Vice Chair
			Stephen Alambritis (resigned 15September Paul Benjamin	2022)
			Charles Boss
			Shaun Danielli
			Ross Garrod (appointed 15September 2022) Naomi Hulston (resigned 31 March 2023)
			Mark Jopling (resigned 31 May 2022)
			TanyaJoseph
			Tracey McCillen
			Paul Osborn (appointed 9December 2022) Joyce Ellen Ryan (resigned 8December 2022) Andrew Selby (appointed 1April 2023)
Key Management		Personnel	Emily Robinson
			Jade Cation (appointed 7June 2022)
			Jill Cochrane (contracted ended 24 May 2022) Timothy James Copley
			Susan Hutton (resigned 30June 2023)
			Tanya Rabin
Bankers			Metro Bank, 1 Southampton Row, London WC16		5HA
Auditors			PKFLittlejohn LLP
			15Wesfferry Circus
			London E144HD

				Unrestricted	Restricted	Total	Total
				Funds	Funds	2023	2022
			Notes	6'000	8'000	8'000	6'000
INCOME FROM:
Charitable activities
Programme Delivery				303	3,848	4,151	4,478
Other trading activities
ThoughtLeadership
and Partner Services				185		185	126
Total income					3,848	4,336
EXPENDITURE ON:
Expenditure on Charitable		activities
Delivery ofCharitable	activities			171	3,686	3,857	4,646
Activities and Events				215		215	162
Total expenditure				386	6 6	4,072	4,808
Net (expenditure)/income				102	162		(204)
Transfers between funds
Net movement in funds				102	162		(204)
Funds brought forward				57		281
Funds carried forward				159	366	525	261

			2023	2023	2022	2022
		Notes	Group 6'000	Charity K'000	Group 6'000	Charity 6'000
FIXEDASSETS
Tangible Fixed Assets Investments					205	205
CURRENTASSETS
Debtors Short term deposits and cash in hand		9	230 1114	318 933 1,251	110 554	158 543 701
CURRENT LIABILITIES
CREDITORS: amounts	falling due
within one year		10	(669)	(664)	(601)	(570)
NET CURRENT ASSETS			525	587	63	131
CREDITORS: amounts	falling due
after one year NETASSETS			525	661	(7) ~64	(7) 329
FUNDS
Unrestricted funds			159	221	57	125
Restricted funds					204	204
TOTALFUNDS		14	525	66t	ttr1	3 9

							2023	2022
							Group	Group
						Note	8'000	6'000
Cash flows from operating			activities			18	410	(737)
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						410	(736)
Cash and cash	equivalents	at	the beginning		ofthe year			1,290
TOTAL CASH	AND CASH	EQUIVALENTS
AT THE END OFTHE YEAR

								2023	2022
2	TOTAL INCOME							6'000	L'000
	Programme delivery							3,848	4,294
	Rental income							303	184
	Events
	Services provided to Partners							124	90
	Sponsorship							35	27
	Other							26	9
	Programme Delivery for Charitable			Activities				2023	2022
	The breakdown was as follows:							6'000	6'000
	Sport England - Core Activities							3,049	2,899
	Sport England - Tackling Inequalities							575	240
	Sport England - Opening School Facilities								950
	Sport England - other funds							80	85
	Active Partnership Network	- OSF						144
	GLA - Others								26
	Others							~8	94 ~4, 4
3	ANALYSIS OFGROUP EXPENDITURE
		Direct	Costs -		Direct	Costs-	Grant	Support	2023
				Staff		Other	Funding	Costs	Total
			6"000			6'000	f.'000	6'000	6'000
	Delivery ofCharitable Activities		2,038				520	436	3,857
	Activities and Events			116		85		14	215
									4,072
		Direct	Costs -		Direct	Costs-	Grant	Support	2022
	Prior Year Comparison			Staff		Other	Funding	Costs	Total
			6'000			E000	6'000	L"000	f.'000
	Delivery ofCharitable Activities		2,216			828	1,081	521	4,646
	Activities and Events			103		35		24	162
			2,319			863	1,081	545	4,808

		2023	2023	2022	2022
Programme		Number	6'000	Number	E000
Together Fund/Tackling	Inequalities		520	60	304
Opening School Facilities				82	760
Others				6	17
		81	520	148	1081

		Management	Finance	Resources	Governance	2023Total
		6'000	6'000	E'000	6'000	6'000
Delivery ofCharitable	Activities	120	39	438	48	645
Activities and Events			4	10		14
		120	43	448	48	659
Prior Year Comparison		Management	Finance	Resources	Governance	2022 Total
		6'000	6'000	F000	6'000	f.'000
Delivery ofCharitable	Activities	130	39	313	39	521
Activities and Events			10	14		24
		130	49	327	39
Governance costs include					2023	2022
					F'000	F'000
Staffcosts					35	26
Auditors' remuneration:
Audit work —London	Sport				10
Audit work - London	Sport Trading				3
Other services
					48	38

						2023	2022
						6'000	E'000
Turnover						79	107
Cost ofsales and administration			costs			(73)	(90)
Net assets brought forward						(68)	(85)
Net profit/(loss)						6	17
Amount gift aided tothe Charity Surplus/(loss) retained in subsidiary						(62)	~68
The assets and liabilities	ofthe	subsidiary		were:
Current assets						41	35
Current liabilities Total net assets and aggregate		share capital			and reserves	(103) (62)	(103) ~68
STAFFCOSTSAND NUMBERS						2023	2022
						6'000	E'000
Staffcosts were as follows:
Salaries and wages						1,915	1,865
Social security costs						197	200
Pension contributions						193	201
						2336	2266
The number ofemployees whose			emoluments		for	2023	2022
the year fell within the following		bands were:				Number	Number
660,001-870,000
670,001 - F80,000
8100,001 - 6110,000
8110,001 - 6120,000
&6120,000

	No Trustees received remuneration,	nor were paid any expenses, in	the current or prior	year.
	The average number ofemployees	during the year was as follows:	2023	2022
			Number	Number
	Charitable activities		52
	Support		1
			53
8	TANGIBLE FIXEDASSETS
			Leasehold
	Charity and group		Buildings
			f'000
	Cost
	Opening Balance as at 1 April 2022
	Purchases during year
	Closing Balance as at 31March 2023
	Depreciation
	Opening Balance as at 1 April 2022		257
	Charge during year		205
	Closing Balance as at 318llarch 2023
	NBV as at 31 March 2023
	NBV as at 31 March 2022		205

		2023	2023	2022	2022
		Group 6'000	Charity 6'000	Group E000	Charity 6'000
Project debtors		142	132	65	48
Prepayments		12	12	35	35
Inter-company	debtors		98		63
Other debtors		76	76	10	12
		230	318	110	158

	2023	2023	2022	2022
	Group 6'000	Charity 6'000	Group f.'000	Charity 6'000
Project creditors	229	228	144	139
Other taxation and social security	76	76	56	56
Accruals	323	319	317	311
Deferred income	41	41	62	42
Other creditors			22	22
	669		601	570

2023	2023	2022	2022
Group 6'000	Charity f.'000	Group 6'000	Charity 6'000

		2023	2023	2022	2022
		Group 8'000	Charity 6'000	Group E000	Charity E000
Deferred	income at 1 April	62	42	71	31
Applied	during the year	41	41	62	42
Released during the year		(62)	(42)	(71)	(31)
Deferred	income at 31 March	41	41	62	42


ANALYSIS OFGROUP NETASSETS			2023
BETWEEN FUNDS	Restdicted	General	Total
	Funds	Funds	Funds
	E'000	6'000	8'000
Tangible fixed assets
Current assets		828	1,194
Current liabilities		(669)	(669)
Long-term liabilities
Net assets at 31 March 2023	366	159	525
			2022
Prior Year Comparison	Restricted	General	Total
	Funds	Funds	Funds
	8'000	8'000	6'000
Tangible fixed assets		205	205
Current assets		461	665
Current liabilities		(601)	(601)
Long-term liabilities		(7)	(7)
Net assets at 31 March 2022		58	262

ANALYSIS OF FUNDS
	Balance at					Balance at
		01-Apr				31-Mar
		2022		Income	Expenditure	2023
		6'000		6'000	E'000	6'000
General funds			57	488	(386)	159
Restricted funds:
Core Activities (Sport England)			131	3,049	(2,836)
Together Fund (Sport England)				575	(575)
Opening School Facilities	(Active Partnersh			144	(144)
Other funds - Sport England			16	80	(82)
Other funds - GLA			10		(10)
Other			47		(39)
				3,848	(3,686)	366
Group total		261		4336	~4622	525
Forprior year corn perision	see over
General funds:	These	are funds solely managed			at the discretion ofthe
	organisation,		without restriction,		in line with our reserves
	policy.
Main Restricted funds:

Prior year comparison	Balance at			Balance at
	01-Apr			31-Mar
	2021	Income	Expenditure	2022
	000	E'000	6'000	6'000
General funds	35	310	(288)	57
Restricted funds:
Core Activities (Sport England) Workforce (Sport England)	122 105	1,604 205	(1,595) (310)	131
Children &Young People (Sport England	16	1,090	(1,106)
Tackling Inequalities (Sport England)	63	240	(303)
Opening School Facilities (Sport England		950	(950)
Other funds - Sport England	88	86	(158)	16
Other funds - GIA Other	36	26 93	(16) (82)	10 47
	430	4,294	(4,520)
Group total	465	~804	~4000	261

ANALYSIS OF PUBLIC	FUNDING
			Non
	Sport		Public
	England	UK Gov	Income	Total
	E'000	E'000	F'000	E'000
Revenue Grants	3,704			3,848
Rental Income			303	303
Other Income			185	185
Total Income	3,704		488	4,336
Staffcosts	2,032		129	2,305
Grant payments	520			520
Other delivery costs	97		56	153
Direct Costs	259		176	435
Supportcosts	634		25	659
Total Expenditure	3,542		386	4,072
Net Income	162		102	264
Cash and Deferred Income Reconciliation
		Greater	Non
	Sport	London	Public
	England	Authority	Income	Total
	E'000	E'000	E'000	E'000
Opening Balance			62	62
Cash received	3,848		488	4,336
Released to P&L	(3,848)		(509)	(4,357)
Closing Balance				41

At 31March	2023the group and charity had annual commitments	as lessee under
non-cancellable operating leases as follows:
	2023	2022
	B000	B000
Due within 1	year	264
Due between	1 and 2years	264
Due between	2 and 5years	792
Due in more	than 5years

			2023	2022
			Group	Group
			6'000	L'000
Net income forthe year			264	(204)
Add back	depreciation	charge	205	73
Add back	impairment	charge
Less interest income
Decrease	/ (increase)	in debtors	(120)	(17)
Increase	/(decrease)	in creditors	61	(589)
			410