REGISTERED COhlPANY NUMBEL. CE(K16121 (gnd and Wol•$) REGISTERID CHARITY NUMBER: 1166348 Rewl ol th• and lknaudltsd Flnanelal Stalements for th• Yety Ended 31 D•c•mb•r2023 lor Squa$h Squaved Brewers Chc¥lered Accountants Bcwme Hovse Queen Street Gcffi5holl Swrey GU5 PLY
Squash Sqwr•d Contents ofth• finonelol Stolernents lor the Year Ended 31 Decemb•r 2023 Pag• R•fu•nc• and Admln151rthe Detafd Indep•nd•nt Examhmrfs Report Slahm•nl ol FInIclo1 Aclvll 8alance Sheel Notes h Ihe finan¢lul Sfrllements
Squash Sqvfxed R•f•Mnce und Admlnlstr<the D•lalls tor lh• Y•tr Ended 31 D•c•mb•r W23 REGiThReD OPn¢t 13 Comwoll Road Sutton SM2 6DU REGISTERED COMPANY NUMBER CECQ6121 IEns4and and Wolesl REGISTERED CHAItITY NUMBER 1166348 INDEPENDENT EXAMINEIE Brewe Chartered Accovntonts OUTne House Queen Street Gomsholl sueY GU5 9LY Pog8 1
Squtsth Squar•d th• Y•ar Ended 31 D•¢•mb•r2023 Tw5tees that seryed dvrfng thg year ore as folk)w5.' - Selbv - Jling Ch-Mckn - Mork RKller - Poul Thomas lapwnted 26 Oclober 20231 - WillDm Sovlle loppoinlèd 26 October 23) - Craig Cook Iresiqned 31 December 2W31 . Jcxed ad)g Iresgned 31 December 20231 The Tnjstees ar$ kepl informed of the activiti ond pèrtornonce ol the choritoble cganisation and wowded ith regular management infomotion. The compo&tion ol Boord ol Trustees 15 kept under review ond addthonal appoin1rnent5 wil be made should the need arise. Al Trustees hove b88n made aware ol thr rospon5tsfities. OBJEcllvES AND ACTivmES Objecllvos and alms Thè ctruty was established as o Choritabie Incorporoled Crgonlsotk)n ICIOI and ils activit$ ore regulolèd by its constitution. Thè obje¢t5 of the chority ar& lo ocl os on eXlr(Kvrricur r8soLK¢e ts YOUTVJ peOe ol school oge living in London by providing (Jdvice, assistance and the (xgonisalion of phy&cal. educational and oth actSvSlles Tha charily ¢irns lo provKle a rrat of odvonciru in fife by hdping yovno people lo develop thr skils. ¢opucities and cap0kliS wlwch wil enab them to portlciFw)te in 50ciety os independent matLf& and rpOnbke indMduots. SlwHlcanl ocl1vf1 Squash Sqvored prowdes weew exlrocurricubr tutoring cornbined th squosh lessons to dsadvanloged children "MarflY from the Merton and Wandsworth areos. It also provides Squash Camps during the school breoks in order to keep th& Chfiaren aGINe during periods where they miohl other¥ise be sedentory. Puble benefft The Trustees hovo ¢on5idergd Ihe guYance prOded by th& ChLty Comrr4ssK)n r6gcrdhg rthlic benefit and the work of the charity. FINANCIAL REVIEW Flnanclal r•vl•w Revenue lotoled £31 k in 3Y23. The charity was able to hdd chcrtlabfe ILJndraigng events agoin in 2023, whkh raad moterfols sums. 5qSq'5 C051 of sales Idwect cosls of Funning the wogram. most notabW court lees and coaching costsl increosed to £13.7k n Tr23 compored to £9.3k In 2022. Operating costs IreaSed to 35k in 2023. compared to £26k in 2022. These fi9wes hov8 now raached o steady state. Going forward. we cwlinve lo capitaI5e on the effc to bring down expanses via more $vpport from Clubs and Schotsls. and we hope lo see fulher langtslts bgnefi15 in 2024 from these gwen whol yolected to be a lulpyear Fvnntiig ol the progrom. Reserves poIY Cosh on hond I reserves as 0131 sl Dècember 2Q23 lotolled £188k down from £203k ot year-end 2022. Ihe Tslee5 h(Ad adequotè reserves to meel nine month5 of the Charity's operating costs. currenty at £26.Ik in a normaled envwonment although Mi4 rote has already slorted IL) come do on a per schc)ofs basi iven the cost sawng measures now being Smplem¥nted. The difference is now belng vsed to extend the chorivs reach and increose the numt)er of 5choots that the charity works. Expenses ore expeded lo decrease over the Idlowlng yeor ond Ihrough increased opiYlcotk)ns lo Iws15 and fwndotion5 more income is wècted. Rw•N•x poll¢y CcLsh on harKI / reseNes os at 31 st De¢8rnber totald £188k. down Ir(xn £203k ol yecx-end 2022. The Trvstee5 5e8k to hold adequate reserves to meet rmne months of the Chty,5 operating costs, currenty al £26.Ik In o Cm0$sd onvronmenl Mith ful expenses. olthough this rvn rale has alreotty storted lo corne on a per school's b0515 given the cost sovng me05ures rh>w being impl&monted. The difference i4 now being wed lo increase the number of 5ehoots that the chanly woFk5 With ond lo be ab lo support more chldren. ond we expect o much lower overoll expense bose on a per school bosls ond rn¢xe lundrolsing opportuntlie5 in 2024. Page 2
Sqvash Squored R•portof1h• Twstees for Ihe Y•ar End•d Jl D•¢eml)er20Z1 STrUCTURE. GOVERNANCE AND MANAGEMENT GoverFln9 document The chority is controlled by ils goveming document, a deed ol Iwsl. and corslitutes a fimiled eompony. Mited by guarantee. os defined by IF Companies Act 3))6. R15k manag•m•nl Th8 Trustg8s trnve reviewed the rn0j risks to which the chorlfy Is expo$6d to including CoYKI-19 and have taken steps lo mitigate the potent1 impact ol those rfsk5. CHAIRMAN'5 REPORT 20?3 brought excelknt aJ1 hoollh ond 51obirty to SqLrtish 5quored. Continued contributions from key stakehokler5, fv40 porlicthty wccessful fundroi%ing events and prudent firKncioI rrKJnagement hove all benefitted the charpty enormovsty. The Ch wos thereli)re well FAaced lo expand its wogrammes and gxlend Its services. A voluobb new p¢YInShlp with o thding independent School was establd lacilitaling access to many new primary scho$ In the Croy(lon area resuthng Sn new progromme bunches bel schedubd Icf ealty 2(r24. tn thè kylgr port ol the year the boor¢J welcomed Iwo new tnjstees. 1 Savlle wll serye as Choirmon ond Poul Thomas wil monoge the educatio1 ejements of Squash Squorèd. Challenges how¢vsr were encountered dvrfng the y&(r. Plons to gnrfnttY expand were mel wth headNds. St¢Jff shortages at schools resultèd in fewer parlnershlw lomed than was hoped. LookTna aheod the charitys wjgrammes should evolve il we are lo bUd on Ihe SucCee$ aChv8 to dote. grow ond Ixtter 5eNe ow benerlarieS. New inltiatives around the wogromme's educolfonol element will be Hilroduced and colloborotions with other c¥ganTzallons deepened to dlow us lo ovr reach and effecliveness. In summory, XI23 Itansp¥ed to be o pcitukJty 5ucces5fvl monlh5 in au re5pect5. My than go lo <xJr dedald board ol trust8gs. commitled coaches ond Slocey fLY hi% nThJnagement and ad¢lp. Ths rewl has been FyepQd in acccffdance wllh relating 10 5marn companie5. sp ial provi5ion5 01 Part 15 of tha ComrxJnie5 Act 2006 Approved by uder ol the board of truslee5 on..... . and sign8d on its behatt by: PKoL£.fl True2 Poge 3
Independenl Ex1•<$ R•port lolhe ol
Squash Sqv(••d
I rep¢)1 lo the Iwslee5 on my exominotlon ol me finone slalements ol SqUh Sqvcffgd I'the chciVI lu the
yeor ended 31 December 2tr22 wtrich cornwse the Slotemerbt of FnancKIl Activities. Ihe Balonce Sh&el and
reloled nole5.
repct is mode solety to the charftys trustee5, as a body. in accordontt wTlh section 145 of the CIvtlEs
Act 2011. My w(xk has been undertaken so that I myht stote to the chuitys tnjstees th05e mtters l am
required to State lo them in trus reporl arKI for no olher purpose. To lulle5t extent permitted by law, I do not
accepl or ossuw responsib4ity lo anyone other than the charfy and the charilvs Iru5t8e5 os a body. lor my
worf for this repul, orfor the oplntjns I h¢we lormed.
ReSpon5b1e¥ uld l>usii ofr•p¢xt
As the tAJstee5 of the chCty you are IponSIble for the preFK¥ation ol Ihe finonaol statements in
accc(dance th Ihg reqU1ments ol the ChcwrlEs Act 20T I I'the ACYI.
I report rpect of my exorrlnation ol the choity's financial 5trotements carried out under section 145 01 the
Act ond in Co1n9 OLrt my examlnatbn I hove fdkJ¥ed all the oppNcobè Dkecfions given by the Chority
commion undrsecthon 14515llbl of the Act.
An independent exomlnotbn does invOe gathering oll the eviderte that WOLAd be requed in an audit
and consequentw does not cover all the matters that an auditor conslders In giving their opinion on the
finaKial slalemenls. The FAanning and coThJucl of on oudt 908s beyond the limlted osswonce that on
Independent examincrtv)n can ryOVKle. Con5equenlly l exwess no oplnion tss lo whether the finonciol
slotements present o 'true ond fairf wew ond my report is ted lo those Specif matter5 Set out in the
indepencjent examinerfs stolement.
IndepeThlenl eXaThn•$ sl
Squash Squryed stot•m•nt of Rnunclal Acl¥lll•s for Ihe Yery Ended 31 D•t•mber 2023 31.1223 Total lunds 31.12.22 Total funds Unreslrfcled fund Reslrrled fund Nol8S INCQME AND ENDOWMENTS FROM Donotions and legacies 25.959 2S.959 165,705 other tradng activities Invèstment incor 4.128 Total 31.129 31.129 166,233 EXPENDITURE ON Roing fvrKts 3.562 Funa roiyng 45.405 32,283 48.536 NEf INCOMV(EXPENDmJRE) (17Ar) (17.407) 130,388 ECONCILIATION OF FUNDS Total funds brought lorword 203,3e3 203.38J 72.99S TOIAi FUNDS CARklED R)RWARD 185.70 115.970 203,383 no1 form of these finoncial ateMents Poge 5
Squosh Swry•d Ba¢• Sh••t JI De¢embff 2023 37.1223 31.12.22 Totel fijnds Unrestiicted Rostficted luTh fvnds Notes CURRENT ASSEYS Debto Cash ot bank 188.244 188244 205.159 188,244 108.244 205.663 CREDIR5 Amoun15 fallng dve thn one yeor (2268) (2268) 12.2801 NETCURIENT ASSEIS 185.976 185.976 YOTAL ASSETS LE55 CURREln UABiullES 785.974 185,976 NEIASSErs 185,971 185.976 203,383 FUNDS Urneslricted fvnd5 185,974 203.383 TOTAL FIJNDS 185,976 3.383 The ch(nltr¢lJe ¢omt)ony 15 enlthed lo exampl from gudit under Seclbn 477 01 the compan Act for the yeor ended 31 Decemb8rX)23. The members have not requirod ts company to obl¢in on audit ol ils finonciol stolements fcf the year en¢Jed 31 December in occcydance wlh Seclk)n 476 01 the Comporves Act 2006. tnJslees ocknowkdge Iheir resports11111s lor ensurin9 that the ch¢jrfIab company keeps accovnliro reccrfds thal comFty ¥wlh Seclk)ns 386 ond 387 of Ihe Componies Act 2C¥)6 ond Preparfng flnanclol slolemenls which &iv8 a true orKI fair view ol the State of off01 of the chjritab company as ul the end of each financhjl y6tsr ond ol it5 suryjus or deficit lu each finoncicjl year in occordonce wth the requirements of SectK)ns 394 and 395 and whh othe9 comply with the requirement5 01 lh8 Componie5 Act 2(X)O rel¢)rfrvJ to finonciol statements, 50 far a5 oppltabÈ to the ch<tab company. lal Ibl 7hese finoncial staterrent5 e b8en prepored kn occordance with the Fvlon5 athQb1e to charitable compon subject lo th• small ¢omponie5 fegime. atements were approved by the 60d of Ttustees ond aulhorbed fcy sue on . and were $Ied on Its bgholl by.. LILJLE Twslee The notes lom F)art ef these financiol statements P¢Jgg 6
Squash Squared Nohs toth• Fbn¢la1 Stalements lor Ihe YKr End•d 31 DKemlxr 2023 ACCOUNIING POLICIES Basts ofFYep(vln9 lh• flnanclal sl(tsrnents The financial stotements of the choritab company, whh is o publlc bengfit entity under FRS I2, hove been prepared in accordance th the Charlties 50RP IFR5 1021 'Accounting and R8poiting by Chorilies: Slotement of ReC0rMndod Procl¢e opthicable lo chatilies preporing thelr accounts in acc(xdance with the Finonciol Reporling Slondard opp1k0• in the UK and RepjtsC ol Ireknnd IFRS 102116118clive l Janvory 20191,, nancIal Reporting Standard I2 The nancIal R8porling Stondord OppCObre in the UK and Ropvblic of Irebnd. and tt)e Companies Act 2C06. The frnncial slalements have been wepared under the hiSe01 cost Convention. Going Concem The trusl685 b85gve there are sufficwl reserves in Ihe chCtY to contlnue lor the foreseeab fulurg. For thi5 reason. the financial atements have been weporèd on a gor conrn basb. Income Al hcomg is recogrked h the Slotemgnf of linanchil Actlvltles once Ihe charify has entimement to the lund5, 11 i% prObate ItrKJt the Inco be reCVed and the omounl can be m6asured refbly. LKJEMlitie5 are reCOgned as expenditwe 05 soon as there S 0 18gal or constnJcrfve olgatiOn committg the chority to that expendilure. il probobJ8 Ihal a Iransler of onOMiC benefits wil be required in settbment and the (vnovnt of the obligation can be meuswed rdhibly. Experérlwe counled lor on an accwals ba5 ond hcts bew clos&r under heaclngs thot oggregale ull cost reIed to tpt cote9)ry. Where cost5 cannot be directty oltribut8d to portrukjr heodlngs thoy hove been dlocaled to odNili95 on o basis CO151ent th the Use of resources. Taxullon The chority exempl from corporotfjn tax on its charitable activilies. Fund accounllng UNInC1ed funds can be used in accordance wtlh the choritoble objecliv•s al Ih8 discretion of the tru5te. Reslricted funds eon onty be used particukT restricted purpos wthin the objects ol the Charity. Reslrict)ns cise when specifred by the donor or when LJnd5 are rotsed for pcrlicvknr restrictad purFx)w5. FLKlhgr explanafK)n of the nature and ol eoch knnd is included in the notes lo the financial stat8ments. pwchase and l•0skn9 cornmllments Rentats rK*I under operoting leases are chorgod to the 51otemenl ol nal(lI ACtltIeS on a sfraight rine b0515 over the period ol Ihe kn58. P¢nth costs <md olhw posl-r•ltroment berftfits The Charitab company operates a defined conlribvtion penSh scheme. Conmbvtions pctyable to the charitable companvs pensK)n scheme ore chged to the Stotèm8nt of nanCl Actle5 in the peri to whh th relote. Poge 7 conthnued...
Squash Squar•d Notes to the FIrnCIal Slolements . ¢onMnued for lh• Year Ended 31 Decernr 2023 OTHER TRADING AcnviiiES 31.1223 31.12.22 FUndraIng evenls 4128 INvEsf•41ENT INCOME 31.1223 31.12.22 Interesl reeeob- trading NET INCOMEI(EXPENDITURE) Net 091[ey4)erKI1UreI 51oled ¢Jfter chorgingllcredilwl.. 31.1223 31.12.22 Room hre costs 3,311 TrUfftES' REmUNTIoN AND BENEFITS There were no tru5tee5' remuneration or other beneflts l¢y the yeor ended 31 Docember 2023 lor the yeor encjed 31 December 2Qn. Trust••s' exp•n There were no Irv5tees' expenses pald lor th• year endod 31 Dg¢¢mbeT 2023 for the year ended 31 December 2022. STAFF COST5 OVage rnonthiy number of employee5 duthg the year wos as follows.. 31.1123 31.1222 Part-Ifme employees No emF4oyees received emolumenls in excess of £60.(AX). DEBTOR5.' AMOUTrttS FALUNG DUE VIITHIN ONE YEAR 31.1223 31.12.22 Prepaym8nts ond accwed income Page 8 conlinved...
Squash Squared Nol•s lo lh• Hnonelal Slcrtemenls . ¢onlinu•d lor Ihe YKr End•d 31 DKwnb•r2tr23 CREDJTORS.. AMOUNTS FALUNG DUE WThIN ONE YEAR 31.12.23 31.12.22 Trade credltors Aecrnjots and deferred income 2,160 I0VEmENT IN FUND5 Nel movem6nt in fvnds Al 31.12.23 Ati.1.23 Unres1rf fMds Generol fund (17.407) 185.?76 roTAL FUND5 {17,407) 185,976 Net movement in fvmds. Inchjded in the above are as follo.. Incoming r#sour¢95 RerCeS eynded Movement In fund5 General fund 31,129 146.536) (17,407) TOTAL FUNDS 31.129 (48,530) (17.407) Compryallvw for moY•m•nt In fvnds Net movement in funds Tronsfe between ftjnds At 31.12. Ati.l.22 fvndj General Ivnd 62.995 13),388 10,(yxJ 203283 X•*lct•d funth Mohn We5lloke 10,( 110,ck))I TOTAL FUNDS 72,995 130.388 203,383 Poge g continued...
Sqvtysh Sqvry•d Ntsles lo Ihe Flnanelal Stal•m•nts. conNrK4•d forlh• Y•u Ended 31 O•c•mb•r21Y23 MOV&WNT IN RINDS. conllnved Comparative nel movemenl li knnds. Included in the above are os lolbw5: Incoming resources Resources &xpended Movèmènt in fiJnds Unreslrlcled ld5 General fund 156,233 125.8451 I.39 Rèstrkled ldI M¢hn We51ke 10, 110,ODOI TOTAL FUNDS 166.233 135,6451 130,388 A cuwenl yeor12 months and woryear 12 rYKnths combined PtKIn is as folk)ws'. Nel movement In ftJnd5 Translw5 between funds Al 31.1223 Ati.1.22 Urff•slrfctèd lunds G8neral fund 62,995 112,981 10,000 185.976 Restrkted fundi Mohn Wesmake 10.(xY) 110.(u)I TOTAL FUNDS 72.995 112.981 185,976 A current yeor 12 months and pYi¢y year 12 m4Jnths combined net movement In funds, included in the above are as lo.. Incomlng reswrces Re50urce5 expended Movemenl in lunds UNeshlc*ed fvndi Generol fund 187,362 174,3811 112.981 R•51rtcted funds Mohn Wesllake 10,000 I10,{x} TOTAL FUNDS 197.362 184.3811 112.981 Pog8 10 continued...
Squash Squ¢¥•d Notès lo the Flnonclal Slut•m•nts. c¢nffinued t¢rlh• Yèty Endtd 31 Decembff 2023 io. RELATED PARTY DISCLOSURE5 There were no iek)ted paty traactIonS forthe year ended 31 Decem[ l)23. Pogell