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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||||
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|||||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|
##
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||||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|
##
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||||||||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|||||||||
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|||||||||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|
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|||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|
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|||||||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||||||||
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||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||
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|||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|
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|||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|
##
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|14|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:|||||||
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|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|
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|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||
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||||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||
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