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2022-08-31-accounts

Charity no. 1165410

The Bristol Sport Foundation Report and Audited Financial Statements 31 August 2022

The Bristol Sport Foundation

Reference and administrative details

For theyear ended 31 August 2022 For theyear ended 31 August 2022
Charity number 1165410
Registered office and The Bristol Sport Foundation
operational address Ashton Gate Stadium
Ashton Road
Bristol
BS3 2EJ
Trustees The trustees who served during the period and up to the date of this
report were as follows:
Martin Griffiths resigned 20 September 2021
Theresa Kingston
James Allen
Jacqueline Cornish resigned 20 September 2021
Gavin Marshall appointed 20 September 2021
Jon Lansdown appointed 20 September 2021
Chief executive officer Ben Breeze
Bankers Barclays Bank Handelsbanken
55 Broadmead 66 Queen Square
Bristol Bristol
BS1 3EA BS1 4JP
Auditors Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

Bristol Sport Foundation (BSF) is a Charitable Incorporated Organisation, established on 3 February 2016 and a registered charity (No 1165410). The charity was established under a Memorandum of Association and is governed under its Articles of Association, revised in March 2021. The Bristol Sport Foundation office is located at Ashton Gate Stadium, Ashton Road, Ashton, Bristol. BS3 2EJ.

Appointment of trustees

The trustees who served during the year and up to the date of this report, are set out on page 1. The trustees who meet on a quarterly basis (or nearest available opportunity) act in the best interests of the charity, using care and skills of the board within the objects of the charity to ensure it complies with charitable law and provides public benefit.

The trustees aim to embed good governance within the charity to enable our people to use their skills and resources to best effect, deliver our mission and achieve our objectives. We will scrutinize the changing nature of risk and ensure we provide the highest standards of safeguarding and privacy to support a positive culture for all staff and the communities they support.

At the first meeting of the 2021/22 academic year (20 September 2021), Martin Griffiths (Chair of Trustees) tendered his resignation as Chair after 5-years in the role. Martin has been integral to the establishment and growth of the charity throughout his tenure, and he leaves the charity well-placed to thrive as society begins to recover from COVID and lockdown.

Theresa Kingston accepted the role as Chair for a three-year term. The need identified by the trustees to expand the board has resulted in the appointment of two new trustees, Jon Lansdown joins on an initial two-year term and Gavin Marshall joins on an initial three-year term. The board has also identified the need to expand from four to six trustees to support the development of the charity and have started the process to identify, shortlist and interview potential candidates.

Organisational structure

Overall responsibility (in accordance with the Scheme Of Delegation) for Bristol Sport Foundation rests with the Chief Community Officer, Ben Breeze. Responsibility for the provision of Programmes rests with the Head of Programmes (Tom Monks).

The trustees are ultimately responsible for setting remuneration levels for senior staff. Bristol Sport Foundation aims to offer fair and competitive remuneration packages to attract and retain staff to lead, manage, support and deliver its charitable aims and objectives.

Policies adopted to further the charity’s objectives

Bristol Sport Foundation is Tier2: Code For Sports Governance compliant and have adopted and updated the policies and procedures required to enable efficient and effective delivery of programmes and services that demonstrate the governance required to receive funding from local and national organisations such as the UK Government and National Lottery.

2

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

Charitable objectives

The exclusively charitable objects for which the charity is established are:

For the purposes of the objects, the term facilities shall include land, buildings, equipment and organising sports activities.

Charitable activities

Bristol Sport Foundation exists to improve lives in the City of Bristol and the West of England by delivering sport and physical activity programmes and services which increase physical activity, improve physical and mental health and assist physical education.

The trustees are mindful of the Charity Commission’s guidance on public benefit and continue to develop services and activities which benefit individuals, families and communities, especially those identified as ‘disadvantaged’ or ‘in need’, especially:

During this period the charity remained aware of the on-going challenges and inequalities in the most disadvantaged communities. We are committed to adapting our programmes and services to help maintain physical activity levels and support good physical and mental health and assist societal and health recovery.

Achievements and performance

Bristol Active Families Project (in partnership with Sport England)

Objects: provision of sport and physical activity; physical and mental health; social isolation; disability/SEN; social/economic disadvantage

The Bristol Active Families Project aims to increase activity levels in the most disadvantaged families and individuals in Bristol. We are uniquely positioned to maximise impact by harnessing the established specialisms and reach of three pro-sport charities in the Bristol Sport Group, namely the Bristol Bears Community Foundation (BBCF), the Bristol City Robins Foundation (BCRF) and Bristol Sport Foundation (BSF).

3

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

BBCF’s Intergenerational HUB continues to build on over 30 months of local partnership development work by providing inclusive activities to identify and train volunteers to better connect the Southmead community. BBCF deliver programmes such as Golden Games (for isolated older people), the Headway programme (for Southmead residents with brain injuries) and Community Links Programme (for those with Special Educational Needs).

BRCF’s Famball and HourTime programme uses existing networks and community partnerships to identify and engage with inactive young people and use this engagement to access and engage with their families and increase physical activity levels. These sessions improve physical and mental health by providing free weekly sporting and physical activity sessions. The programme provides a fun and educational environment where families interact, form stronger bonds, learn new skills together and make new friendships.

BSF’s We Love Sport (WLS) programme provides inclusive sessions for inactive young people and their families that aim to improve physical competence and build confidence through increased activity and fun. The programme assesses the physical competencies of large numbers of young people and examines the link between low physical activity levels, poor health and wellbeing with poor fundamental movement and physical literacy skills.

BSF’s Digital Transformation Project continues to create new and efficient ways to collect data and apply ‘academically rigorous’ assessment frameworks to create actionable insight. The systems we use continue to improve operational efficiencies and develop the charity’s understanding of the impact of our delivery. We record and combine baseline activity levels and changes in attitudes and behaviours towards sport and physical activity with socio-demographic community data to improve our understanding and reach. We aim to improve our programme and services and better connect the communities of Bristol in a lifelong involvement in sport and physical activity.

Education programmes

Objectives: advancement of education (physical education, numeracy, literacy, PSHE); physical and mental health; young people; social/economic disadvantage

Forever Sport is our core primary school programme that directly addresses low physical activity rates and increasing levels of childhood obesity by offering 16 different in-curriculum and extracurricular sports and physical activities. This wider and more inclusive offer provides children with more opportunities to ‘fall in love with sport and enjoy being active’ by learning how to access and enjoy a wide range of sports and physical activities to live an Active, Healthy and Happy life. The programme grows confidence through improved physical activity competence and by raising aspirations.

4

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

In addition to Forever Sport, we work in partnership with schools to develop sport-based education programmes to increase physical activity levels, improve physical and mental health and address specific educational needs:

Nascence Project

Objectives: provision of sport, physical and mental health, young people, social/economic disadvantage

The Nascence Project provides fundraising, volunteering and pro-bono opportunities for patrons, donors, and local and national businesses to raise funds and provide additional resources to Bristol Sport Foundation, Bristol Bears Community Foundation and/or Bristol City Robins Foundation. The Nascence Project enables individuals and/or organisations to make one-off or regular financial donations, volunteer time and expertise through pro-bono giving. The project provides choice and opportunity for organisations to demonstrate support of their community and has provided direct funding and resource for projects during another challenging year for disadvantaged communities. We fundraised and successfully applied for grants that totalled £567,892 with, and on behalf of Bristol Bears Community Foundation, Bristol City Robins Foundation and Bristol Sport Foundation.

Addressing Digital Poverty

In partnership with DigiLocal and our Nascence partners, we donated over £39,000 worth of recycled digital devices to families from disadvantaged wards in Bristol who live with digital poverty and do not have access to the internet. These families are now better connected to the programmes and services available to them in their communities.

Reading Recovery

Objectives: advancement of education, literacy and mental health.

The effects of COVID continued to have an adverse effect on young people, families and communities. Our Reading Recovery literacy support programme was delivered online by 14 volunteers to 12 children for 180 hours in total in two of the most deprived schools in Central Bristol (Evergreen and St Werburgh’s).

Sporting fundraisers

488 corporate volunteers and fundraisers took part in over 7,808 hours of physical activity in 2021/22 by participating in our netball, basketball, football and cycling fundraising festivals, raising £33,020 in the process.

5

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

Financial review and plans for the future

Bristol Sport Foundation continued to make efficiency savings throughout the 2021/22 financial year and throughout the third COVID lockdown. The charity achieved these savings by reducing the cost of delivery and by restructuring the operational/administrative staffing structure. The demand for programmes and services increased throughout the latter part of the academic year and had a positive impact on revenue by year-end. To this end, Bristol Sport Foundation produced a surplus during the year, returning unrestricted reserves to pre-COVID levels set by trustees. Bristol Sport Foundation continued to work closely with key stakeholders to appropriately resource the charity as schools and community facilities re-opened and demand for programmes and services increased.

Bristol Sport Foundation will continue to develop robust funding and resource models, managing financial risk by building partnerships to access, maintain and increase regular income from a variety of sources. Bristol Sport Foundation sourced grant funding, continued to develop online capabilities and adapt programme delivery to maintain sport and physical activity opportunities both online and in person.

"We maintain a particular focus on capturing and analysing data to develop deeper understanding of the impact of our work and demonstrate how increased physical activity has improved physical and mental health."

The trustees have agreed that the growth and development of the charity should be achieved through a balanced increase of earned income; increased donations; more fundraising activities and further grant applications.

The restrictions of the pandemic have highlighted the need for innovation, resilience, disciplined creativity and focus on impact. We are committed to remembering the hard-learned lessons and believe this focus will enhance our drive to fulfil the objectives of the charity.

The trustees consider Bristol Sport Foundation as a ‘going concern’. During the financial year unrestricted reserves increased from £136,864 to £260,064. The cash balance has increased from £79,525 to £299,181. The trustees are satisfied that the level of unrestricted reserves and the cash balance are within the targeted range as set by the trustees, and are at an appropriate level for the charity (see below).

The charity has continued to adapt delivery to support families and communities in post-COVID recovery. BSF continued to make investments in staffing and digital infrastructure to ensure the efficient, effective and accessible delivery of programmes and services. Demand for programmes and services increased throughout the academic year and helped to refill reserves to the targeted level set by trustees.

The charity continued to develop sustainability models by creating robust funding models that provide regular income from a variety of sources.

6

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

The charity mitigates the risk of annual rolling funding streams (i.e. the Department For Education PE and School Sport premium) by aligning fixed term staff contracts with confirmed funding / partnership cycles.

Unrestricted funds

Net income for the period 1 September 2021 – 31 August 2022 on unrestricted funds amounted to £123,200 resulting in unrestricted funds to be carried forward of £260,064.

Restricted funds

Net income (expenditure) for the period 1 September 2021 – 31 August 2022 on restricted funds amounted to £65,447 resulting in restricted funds to be carried forward of £40,784.

Reserves policy

The trustees of Bristol Sport Foundation have set a target to retain three months of running costs in reserves to provide an appropriate level of resilience for the charity. Total free unrestricted reserves held by the charity on 31 August 2022 were £234,435. The reserves at the balance sheet date have recovered to the level prescribed by the trustees. The 2022/23 budget shows predicted growth and a small surplus.

Fundraising

Bristol Sport Foundation aims to uphold the very highest fundraising standards and practices and stay well-informed on fundraising best practice through membership of the Fundraising Regulator. To date, Bristol Sport Foundation has not received any complaints with regards to fundraising activities and are mindful not to undertake fundraising activities that intrude on privacy, are unreasonably persistent, or put any person, especially vulnerable people, under undue pressure to donate. Bristol Sport Foundation do not employ or engage with any external fundraising agencies and do not undertake any street-fundraising or telephone cold-calling and review the Bristol Sport Foundation fundraising policy on an annual basis.

Risk management

The trustees have identified and reviewed the major risks to which the Foundation is exposed and have established appropriate policies and systems to mitigate them. Operational staff and programme managers identify, evaluate and quantify all risks to staff, volunteers and participants in advance of activities being delivered. Management of risk and application of risk assessments are adhered to at all times. A comprehensive review of all identified risks is taken on a termly basis or as deemed necessary by staff.

7

The Bristol Sport Foundation

Report of the trustees

For the year ended 31 August 2022

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity do not guarantee to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 17 February 2023 and signed on their behalf by

Theresa Kingston

Theresa Kingston - Chair

8

Independent auditors' report

To the members of

The Bristol Sport Foundation

Opinion

We have audited the financial statements of The Bristol Sport Foundation (the 'charity') for the year ended 31 August 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

9

Independent auditors' report

To the members of

The Bristol Sport Foundation

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

10

Independent auditors' report

To the members of

The Bristol Sport Foundation

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

11

Independent auditors' report

To the members of

The Bristol Sport Foundation

Use of our report

This report is made solely to the charityʼs trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 20 February 2023

Godfrey Wilson Limited

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

12

The Bristol Sport Foundation

Statement of financial activities

For the year ended 31 August 2022

Note
Income from:
Donations
3
Charitable activities
4
Other trading activities
5
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
6
7
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure)
and net movements in funds		 Restricted
£
87,500
234,721
-
-
322,221
-
256,774
256,774
65,447
(24,663)
40,784		 Unrestricted
£
268,895
787,816
46,460
16
1,103,187
57,552
922,435
979,987
123,200
136,864
260,064		 2022
Total
£
356,395
1,022,537
46,460
16
1,425,408
57,552
1,179,209
1,236,761
188,647
112,201
300,848		 2021
Total
£
265,765
692,808
21,189
-
979,762
75,704
1,005,039
1,080,743
(100,981)
213,182
112,201

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.

13

The Bristol Sport Foundation

Balance sheet

As at 31 August 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
15
Funds
16
Restricted funds
Unrestricted funds
General funds
Total charity funds		 £
164,218
299,181
463,399
(188,180)		 2022
£
25,629
275,219
300,848
40,784
260,064
300,848		 2021
£
29,495
68,499
79,525
148,024
(65,318)
82,706
112,201
(24,663)
136,864
112,201

Approved by the trustees on 17 February 2023 and signed on their behalf by

Theresa Kingston

Theresa Kingston - Chair

14

The Bristol Sport Foundation

Statement of cash flows

For the year ended 31 August 2022

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Loss on disposal of intangible fixed assets
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
188,647
15,047
(16)
-
(95,719)
122,862
230,821
16
(11,181)
(11,165)
219,656
79,525
299,181		 2021
£
(100,981)
15,707
-
8,120
29,429
(19,464)
(67,189)
-
(9,559)
(9,559)
(76,748)
156,273
79,525

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

15

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Bristol Sport Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. During the financial year unrestricted reserves increased from £136,864 to £260,064. The cash balance has increased from £79,525 to £299,181. The trustees are satisfied that the level of unrestricted reserves and the cash balance are within the targeted range as set by the trustees. The trustees therefore consider there to be no material uncertainties about the charity's ability to continue as a going concern for 12 months from the date of approval of these financial statements.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of events and contracts are deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

16

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

1. Accounting policies (continued)

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the following basis, based on direct costs:

2022 2021
Raising funds 5% 7%
Charitable activities 95% 93%

h) Tangible fixed assets

Tangible fixed assets Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated
residual value over its expected useful life. The depreciation rates in use are as follows:
Sports equipment 3 years straight line basis
Computer equipment 4 years straight line basis
Furniture and fittings 4 years straight line basis
Storage unit 10 years straight line basis

Items of equipment are capitalised where the purchase price exceeds £500.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

17

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

1. Accounting policies (continued)

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Grants payable

Grants payable to other organisations are charged in the year in which the offer is conveyed to the recipient, except in those cases where the offer is conditional.

n) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The only source of estimation uncertainty that has a significant effect on the amounts recognised in the financial statements is depreciation as described in notes 1 (h) above.

18

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

2. Prior period comparatives

Income from:
Donations
Charitable activities
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Income from donations
Corporate donations
Individual donations
Other donations and fundraising
Gift aid
Prior period comparative
Corporate donations
Individual donations
Other donations and fundraising
Coronavirus Job Retention Scheme
Gift aid		 Restricted
Unrestricted
£
£
65,695
200,070
195,808
497,000
-
21,189
261,503
718,259
-
75,704
283,470
721,569
283,470
797,273
(21,967)
(79,014)
1,370
(1,370)
(20,597)
(80,384)
Restricted
£
£
50,000
5,000
30,000
250,500
-
12,217
7,500
1,178
87,500
268,895
Restricted
£
£
17,000
10,000
30,000
116,488
11,147
33,628
-
38,878
7,548
1,076
65,695
200,070
Unrestricted
Unrestricted		 2021
Total
£
265,765
692,808
21,189
979,762
75,704
1,005,039
1,080,743
(100,981)
-
(100,981)
2022
Total
£
55,000
280,500
12,217
8,678
356,395
2021
Total
£
27,000
146,488
44,775
38,878
8,624
265,765

3. Income from donations

19

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

4. Income from charitable activities

Bristol Flyers
Forever Sport
Netball Development Hub
Sport England
South Gloucestershire Council
Bristol City Council
Badminton Club
Other income		 Restricted
£
-
-
-
191,385
-
40,036
-
3,300
234,721		 £
72,266
682,425
2,995
-
25,000
-
5,130
-
787,816
Unrestricted		 2022
Total
£
72,266
682,425
2,995
191,385
25,000
40,036
5,130
3,300
1,022,537

Prior period comparative

Bristol Flyers
City of Bristol College
Forever Sport
Holiday Camps
Netball Development Hub
Sport England
Bristol City Council
Other income		 Restricted
£
-
7,500
-
-
-
161,338
24,470
2,500
195,808		 £
33,041
-
452,814
2,867
4,971
-
-
3,307
497,000
Unrestricted		 2021
Total
£
33,041
7,500
452,814
2,867
4,971
161,338
24,470
5,807
692,808

Government grants

The charity receives government grants, defined as funding from Sport England and Bristol City Council to fund charitable activities. The total value of such grants in the year ending 31 August 2022 was £231,422 (2021: £224,686). There are no unfulfilled conditions or contingencies attaching to these grants.

5. Income from other trading activities

Corporate tournaments
Other trading		 Restricted
£
-
-
-		 £
13,715
32,745
46,460
Unrestricted		 2022
Total
£
13,715
32,745
46,460		 2021
Total
£
-
21,189
21,189

All income from other trading activities was unrestricted in the prior year.

20

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

6. Total expenditure

Staff costs (note 9)
Delivery costs
Grants payable (note 8)
Premises costs
IT and office costs
Insurance
Audit and accountancy fees
Professional fees and subscriptions
Depreciation
Bank charges
Sub-total
Allocation of support and governance costs
Total expenditure
Governance costs are £7,188 (2021: £6,768).
Prior period comparative
Staff costs (note 9)
Delivery costs
Grants payable (note 8)
Digital transformation project
Fundraising expenses
Audit and accountancy fees
Bank charges
Depreciation
Insurance
IT and office costs
Premises costs
Professional fees and subscriptions
Other charges
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising
funds
£
46,043
-
-
-
-
-
-
-
-
-
46,043
11,509
57,552

Raising
funds
£
52,523
-
-
-
2,574
-
-
-
-
-
-
-
-
55,097
20,607
75,704		 Charitable
activities
£
688,674
152,241
102,489
-
-
-
-
-
-
-
943,404
235,805
1,179,209
Charitable
activities
£
442,892
79,706
72,108
136,753
-
-
-
-
-
-
-
-
-
731,459
273,580
1,005,039		 £
117,789
-
-
21,552
54,533
2,458
9,480
25,440
15,047
1,015
247,314
(247,314)
-
£
194,498
-
-
-
-
11,229
1,249
15,707
2,539
35,704
11,031
12,430
9,800
294,187
(294,187)
-
Support and
governance
costs
Support and
governance
costs		 2022 Total
£
852,506
152,241
102,489
21,552
54,533
2,458
9,480
25,440
15,047
1,015
1,236,761
-
1,236,761
2021 Total
£
689,913
79,706
72,108
136,753
2,574
11,229
1,249
15,707
2,539
35,704
11,031
12,430
9,800
1,080,743
-
1,080,743

21

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

7. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Trustees' indemnity insurance
Auditors' remuneration:
Statutory audit (including VAT)
Other services
8.
Grants payable
Grants paid to institutions:
Bristol Bears Community Foundation
Bristol City Robins Foundation
Other
Total grants payable		 2022
£
15,047
2,011
Nil
Nil
1,008
6,180
2,766
2022
£
51,148
50,441
900
102,489		 2021
£
15,707
1,675
Nil
Nil
1,008
5,760
2,452
2021
£
52,995
19,113
-
72,108

Grants payable are all in furtherance of the charity's objects. No support costs are allocated to grant payments.

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2022
£
771,446
53,592
27,468
852,506		 2021
£
623,577
40,806
25,530
689,913

One employee (2021: one) earns more than £60,000. Total earnings fell within the £70,000 to £80,000 bracket (2021: £70,000 - £80,000).

The key management personnel of the charity comprise the trustees, chief executive officer, and senior management team. The total employee benefits of the key management personnel in the period were £174,902 (2021: £178,577).

22

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

9. Staff costs and numbers (continued)

Average head count 2022
No.
38.42		 2021
No.
31.00

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11. Tangible fixed assets

Cost
At 1 September 2021
Additions in year
Disposals in year
At 31 August 2022
Depreciation
At 1 September 2021
Charge for the year
Disposals
At 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021
12. Debtors
Trade debtors
Prepayments
Accrued income
Other debtors		 Sports
equipment
£
1,911
-
(1,911)
-
1,911
-
(1,911)
-
-
-		 Computer Furniture and
equipment
fittings
£
£
49,610
13,606
11,181
-
-
-
60,791
13,606
31,919
8,902
11,097
2,750
-
-
43,016
11,652
17,775
1,954
17,691
4,704		 Storage
unit
£
12,000
-
-
12,000
4,900
1,200
-
6,100
5,900
7,100
2022
£
51,535
31,807
79,886
990
164,218		 Total
£
77,127
11,181
(1,911)
86,397
47,632
15,047
(1,911)
60,768
25,629
29,495
2021
£
25,527
8,419
33,960
593
68,499

23

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

13. Creditors : amounts due within 1 year

Trade creditors
Accruals
Deferred income (see note 14)
Other taxation and social security
Other creditors
14. Deferred income
At 1 September 2021
Deferred during the year
Released during the year
At 31 August 2022		 2022
£
70,869
54,740
42,520
12,466
7,585
188,180
2022
£
-
42,520
-
42,520		 2021
£
14,969
34,016
-
12,767
3,566
65,318
2021
£
-
-
-
-

Deferred income relates to income received in advance of the postponed Break The Cycle event and school contract delivery for 22/23.

15. Analysis of net assets between funds

Tangible fixed assets
Net current assets
Net assets at 31 August 2022
Prior period comparative
Tangible fixed assets
Net current assets
Net assets at 31 August 2021		 £
-
40,784
40,784
£
-
(24,663)
(24,663)
Restricted
funds
Restricted
funds		 £
25,629
234,435
260,064
£
29,495
107,369
136,864
Unrestricted
funds
Unrestricted
funds		 Total
funds
£
25,629
275,219
300,848
Total
funds
£
29,495
82,706
112,201

24

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

16. Movements in funds

Restricted funds
HAF Camps
Health Squad
Reading Recovery
Bright Sparks / HITZ
Sport England: Bristol Active Families Project
Coach Core Apprenticeships
Administration fund
Netflix
St James Place Charitable Foundation
Kickstart
Extra Curricular Delivery
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1
September
2021
£
3,747
2,500
-
-
(30,910)
-
-
-
-
-
-
(24,663)
136,864
136,864
112,201		 Income
£
27,120
-
2,000
3,000
191,385
3,150
37,500
20,000
25,000
12,916
150
322,221
1,103,187
1,103,187
1,425,408		 £
£
(26,988)
3,879
(2,500)
-
(2,000)
-
(3,000)
-
(140,207)
20,268
(4,205)
(1,055)
(37,500)
-
(20,000)
-
(9,053)
15,947
(11,171)
1,745
(150)
-
(256,774)
40,784
(979,987)
260,064
(979,987)
260,064
(1,236,761)
300,848
Expenditure
At 31 August
2022

Purposes of restricted funds HAF Camps

Bristol City Council made a £27,120 grant restricted for the delivery of Holiday Activity and Food camps that provided children eligible for free school meals at Evergreen, Hannah More and Summerhill primary schools with the opportunity to play sport and be physically active during the Easter and Summer holidays.

Health Squad

The delivery of the Health Squad programme to improve the physical and mental health of young people in disadvantaged wards.

25

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

16. Movement in funds (continued) Purposes of restricted funds (continued)

Reading Recovery The delivery of the Reading Recovery literacy and mentoring programme which supported young people with low literacy skills to improve their reading abilities.

Bright Sparks / HITZ

Donations to be passed on to Bristol Bears Community Foundation, restricted for the delivery of the HITZ and Bright Sparks programmes and the general administrative purposes of the charity.

Sport England: Bristol Active Sport England made a £171,117 grant restricted for the delivery of Families Project Bristol Sport Foundation’s Bristol Active Families Project to increase physical activity levels, and physical and mental health for inactive families living in disadvantaged wards in Bristol.

Coach Core Apprenticeships

The Coach Core Community Activator programme equips apprentice coaches with the skills needed to help make people’s lives better through physical activity, organised play, and sport.

Administration fund

This donation is to fund the development and delivery of Bristol Sport Foundation’s overall administrative resource.

Netflix Netflix has made a £20,000 donation restricted for the delivery of the Health Squad programme to improve the physical and mental health of young people in disadvantaged wards.

St James Place Charitable St James Place Charitable Foundation has made a £25,000 donation Foundation restricted for the delivery of the Health Squad programme to improve the physical and mental health of young people in disadvantaged wards. Kickstart HM Government provided post-COVID Kickstart funding for training, development and the employment of young people (aged 16-24yrs) over a six month period.

Extra Curricular Delivery The delivery of sports and physical activity sessions out of curriculum time to increase the physical and mental health of young people in disadvantaged wards.

Funds in deficit

The deficit arising on the Coach Core Apprenticeships represents a recoverable overspend in the apprenticeship program.

26

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

16. Movement in funds (continued)

Prior period comparative

Restricted funds
Covid Relief Fund
HAF Camps
Health Squad
Reading Recovery
WLS Family Hubs
Bright Sparks / HITZ
Digital Inclusion Project
City of Bristol College
Administration fund
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
Sport England: Bristol Active
Families Project
Sport England: Development
Award		 £
(4,066)
-
-
-
-
-
-
-
-
-
-
(4,066)
217,248
217,248
213,182
At 1
September
2020		 Income
£
4,066
24,470
2,500
7,500
3,895
12,000
686
91,338
70,000
7,500
37,548
261,503
718,259
718,259
979,762		 £
-
(20,723)
-
(7,500)
(3,895)
(12,000)
(686)
(122,248)
(71,370)
(7,500)
(37,548)
(283,470)
(797,273)
(797,273)
(1,080,743)
Expenditure		 Transfers
between
funds
£
-
-
-
-
-
-
-
-
1,370
-
-
1,370
(1,370)
(1,370)
-		 At 31
August
2021
£
-
3,747
2,500
-
-
-
-
(30,910)
-
-
-
(24,663)
136,864
136,864
112,201

17. Operating lease commitments

The charity had 1 operating lease at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2022
£
2,011
-
2,011		 2021
£
1,675
-
1,675

27

The Bristol Sport Foundation

Notes to the financial statements

For the year ended 31 August 2022

18. Related party transactions

Transactions with trustees:

Martin Griffiths, Gavin Marshall and Jon Lansdown, current and former trustees of Bristol Sport Foundation (BSF), are also directors of Ashton Gate Limited (AGL). During the period Bristol Sport Foundation paid £43,558 (2021: £34,531) to AGL for rent and other services. Also during the year BSF received income of £1,515 (2021: £Nil) from AGL for entry fees into two of BSF's charity fundraisers. The amount outstanding at 31 August 2022 totalled £21,634 (2021: £5,491).

Jon Lansdown is also a trustee of Bristol City Robins Foundation (BCRF). During the year BSF paid £50,441 to BCRF for the Sport England: Bristol Active Families Project and the Changing Lives Through Sport donation amounts owed to BCRF. Also during the year BSF received income of £4,315 from BCRF for staff salary recharges. There were no amounts outstanding at the year end.

Jon Lansdown is also a director of Bristol Flyers Ltd. During the year BSF received income of £120 from Bristol Flyers Ltd for providing coaches at a corporate event. At 31 August 2022, £120 was outstanding.

Donations received from trustees:

During the year ended 31 August 2022 the aggregate value of donations received from trustees and their spouses was £30,000 (2021: £30,000).

28