2022-03-31-accounts - Rackets Cubed

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REGISTERED CHARITY NUMBER: 1170744

Report of the Trustees and

Unaudited Financial Statements for the

Year Ended 31 March 2022 for

RACKETS CUBED

Thorne Lancaster Parker 4th Floor Venture House

27-29 Glasshouse Street London W1B 5DF

Rackets Cubed

Charity Name

Charity Number Trustees

CEO Principal Address

Bankers

Solicitors

Independent Examiner

1170744 Kathryn Bartram Richard Ford (Finance and Risk) Sheila Forster (Impact) Michael Ian Hill – (Chairman) Michael Holland Alison Jacobs Anne Keothavong Emma Lewis – (Safeguarding Lead) Cavin O'Driscoll – (Finance and Risk, and ESG) Bruce Walker – (Chair - Finance and Risk) Serena White Geoff Newton 17 Castello Avenue London SW15 6EA HSBC Fulham Broadway Branch 593 Fulham Road London SW6 5UA Russell Cooke 2 Putney Hill, London SW15 6AB Thorne Lancaster Parker Chartered Accountants 4th Floor Venture House 27-29 Glasshouse Street London W1B 5DF

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Report of the Trustees for the year ended 31 March 2022

Programme Overview Report of the Trustees  Programme Review  Impact  Partners  Community Box  Community Week

Independent Examiner’s Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements

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23 24 25 26-30

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Report of the Trustees for the year ended 31 March 2022

Rackets Cubed Programme Overview (“Scaling and Multi-local”)

We partner "Aspirational Hosts" (such as universities, private schools / sports clubs and leisure centres) with local primary schools in underserved areas. The hosts provide access, court time and teaching infrastructure. Our model delivers weekly sessions focusing on combining

High quality physical activity with
Maths / STEM (Science, Technology, Engineering and Maths) teaching, and
Nutritional provision - (food and education around food)

Each programme delivers one session per school week (for a total of approximately 30 sessions per year). Led by our experienced, sessional coaches and teachers, each session is about two-hours long, and features:

One hour of racket sports: qualified coaches work with the schools, teachers and volunteers to understand the needs of the children. The sessions run once a week as an extracurricular session and are designed to engage individuals in physical activity and develop confidence and lifestyles associated to this. For many of the young people, it will be their first introduction to racket sports. We work with them to develop new skills and techniques whilst focusing on fun to ensure they have a positive first experience of the respective sport.
One hour of education: Following the sport and physical activity session, we deliver an extra-curricular education session on STEM subjects led by existing teachers (where possible) or private tutors. These sessions provide an important additional resource to support the development of educational attainment and overcome barriers such as lack of support at home or lower levels of English.
Nutrition provision and information: Young people at each session are provided with a free meal, which can represent an important part of that individual's nutrition for the day.

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Report of the Trustees for the year ended 31 March 2022

Report of the Trustees

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The primary objective of the charity is to run integrated Racket Sports, Education (STEM/Maths) and Nutrition programmes with the aims of improving the aspirations, physical and mental health, and ultimately performance of primary school children in underserved areas

We partner "Aspirational Hosts" (such as universities, sports clubs and leisure centres) with local primary schools of high "Income Deprivation" ratings. Staff at the schools have told us that many of their pupil’s face challenges around social inclusion, have low confidence, and often have the inability to attend extracurricular activities. Our programme has been built through ongoing consultation with our partner schools to ensure activities meet the needs of disadvantaged pupils, are different to what is being offered already, and complementary to the curriculum.

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Our Vision, Beneficiaries and Impact

The charity’s vision is driven by the increasing evidence that active children have higher school achievement and that nutritious food improve classroom behaviour. There are a number of factors which have been shown to adversely affect a child’s learning and development:

A child’s long term health and fitness is adversely affected by being overweight which in turn impacts learning and development in children.
Disadvantaged children are less likely to participate in physical activity outside of school.
Self-esteem, participation and confidence are all important factors in a child’s school attainment as well as their quality of life. Obesity can adversely affect all of these things and it is thought that poor self-esteem may be a reason for decreased attainment in obese children.
Nutrition and physical activity interventions in schools tend to have the biggest impact in populations with a high prevalence of disadvantage.
There is significant potential benefit for the children in learning an additional life skill (i.e. a sport), which could help them directly in future years.

Beneficiaries

Our activities are dedicated to giving children from inner-city, low-income areas the opportunity to fulfil their academic potential, improve their physical and mental health and to aim high in all aspects of their daily lives. The programmes focus on learning a new sporting skill, being active and supporting classroom achievement. We currently operate in London, Manchester, Birmingham, Nottingham, Leeds, Bradford, Hull, York, Peterborough, Glasgow with a pipeline in several other cities evaluating a next academic year launch. An additional objective is, by hosting the programmes at external venues, to help break down both perceived and real barriers and open up further opportunities for the children. We work primarily with young people aged 7 -11 from some of the country's most underserved areas (IDACI rated 0.2-0.5).

The schools select the children, given their detailed knowledge of needs and background, plus the anonymised data collection. Each programme is built around a strong partnership with a local school, with whom our contacts are at Headteacher, PE lead, and governor level. Our programmes often see a high proportion of participants from ethnic minorities, are young females and speak English as an Additional Language. Many of our participants are eligible for Pupil Premium.

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Report of the Trustees for the year ended 31 March 2022

Our Impact

Evidence, Impact and Evaluation- Qualitative and Quantitative

Feedback from our provision has been extremely positive, with over 90% of participants stating the sessions made them happier, enabled them to try new sports and improved their maths performance.

The local headteacher - told us "the Rackets Cubed formula of local, free provision in an aspirational setting has been transformational". Feedback from the Wandsworth programmes indicated:

96% of the children who took part made new friends
96% of the children felt the maths tuition helped their maths in school
95% of parents saw a positive change in their child's attitude to school
100% of participants said taking part in physical activity made them happier

In addition, we worked with Roehampton University and Fit Media (a leading UK Fitness Measurement consultancy) to undertake charity-wide impact reporting with a view to understanding the outcomes delivered through our work and areas for improvement. Two independent impact reports were written for academic year (2018 to 2019). The reports indicated the following

Significant improvement in Physical literacy - run by Fit Media looking at 4 measurements (Standing Jump, Grip Strength, Shuttle runs and catch and throwing a tennis ball)
Significant improvement in happiness, confidence and resilience
Schools noticed increased confidence in the children to tackle everyday school problems or tasks

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Report of the Trustees for the year ended 31 March 2022

In addition to combining physical activity with STEM teaching and nutritional support, we look to impact multiple areas including

Improving the confidence, well-being and mental health of the children; we are observing benefits post COVID through the combination of the activities, aspirational settings and role models
Supporting healthy and active lives ; we are looking to establish long term habits to improve life attainment
Developing young people; Young children growing up in these communities are often deprived of opportunities to develop and flourish because of several social, cultural, economic or physical barriers
Local community engagement; we want this to be local opportunities of local children. The host sites are often close enough to walk to, however, historically access to these facilities was not available

Growing up in poverty has a significant detrimental impact on every area of a child's life, from health and well-being, to education and employment - severely limiting their opportunities and future life chances. However, in 10% of primary schools and 8% of secondary schools nationally, disadvantaged pupils are doing better than the national average for all pupils. This illustrates that it is possible to narrow the gap and we believe enrichment through sport and education can play a crucial role in making this happen.

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Report of the Trustees for the year ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

This year saw a significant transition as we relaunched the core integrated programmes whilst maintaining our Community Box and Community Week COVID support initiatives. Given the significant increases in food, fuel and energy costs, plus partial lock downs over the winter period we see continued need for broad support within many of our communities. We anticipate that this need will remain for the foreseeable future, hence although we will not look to grow our Box programmes, we will look to continue them. The following is a summary of the status

Rackets Cubed Programme; We have seen significant interest in restarting or launching fresh programmes. By September 2022 we will have 28 programmes running for the new academic year. We have a strong pipeline of 50+ sites at various stages of development and are targeting 50 programmes by September 2023, and 100 by 2025. We are now operating in 10 cities across England and have started in Glasgow.

We have

  - A good balance of sites that are interested in hosting; Universities, private schools, private clubs and leisure facilities

  - Experienced COVID disruption at the hosting sites, but especially within schools with teaching staff. This has been the main bottleneck during the year. We have seen an easing as we came through winter, but anticipate we will see further disruption next winter

Community Box Programme; We were providing essential Educational, Food, Personal Hygiene, and Activity supplies to approximately 1,000 young families (4 to 5,000 people) in 8 cities and 17 sites, but with schools now fully open the educational and activity supplies have decreased. In addition we are developing a social supermarket model in Roehampton where participants are able to select the items that they want. Throughout the year we evolve what is in the Boxes but look to provide weekly deliveries of;
Healthy Food; Fresh fruit, vegetables, pasta, rice, bread, soups, milk, protein etc
Personal Hygiene; Soap, Toothpaste, Toilet Paper
Note the Educational material content has dropped given the return to schools
Activity; colouring, pencils, games, sports – this is around Christmas and other holidays
Roehampton Community Week; The Community Week was a new community-led initiative for the Roehampton area, that delivered a series of activity and well-being projects. We are a founding partner and act as the lead for funding and have focused on how we can support the activity and health aspects. The original week involved over 50 local groups, 40 projects and was held on July 5th to 11[th] 2021. There was a series of subsequent projects over the winter of 2021 (approx. 20 projects), which have continued into spring and summer of 2022 (approx. 18 projects). The broader week objectives are "enhancing Communal areas and improving the mental /physical health and well-being of the residents", however we are looking to impact multiple areas including
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 - Local Community Strength by building "cross community" partnerships; Local residents and community members have been involved in the planning and provision to ensure community ownership of the project.

 - Supporting Healthy and Active Lives; series of multi-week programmes targeted a key community groups.
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Report of the Trustees for the year ended 31 March 2022

Selected Organisational Achievements in Year Ended March 2022

Programmes	Relaunched core programmes in August 2021
	Reached 26 Programmes at March 2022 (Year End)
Team Recruitment	Hiring of additional programme managers into
	North-East
	North-West
	London
	Community Hub manager in Roehampton
Fundraising	Won multi-year (3 year grant funding)
	Expanded Core Revenues to over £300,000
Training and Development	Developed training programme for all new starters
Governance and Policies	Expanded and developed out policies
	Worked with Sport England to move to Tier 3 compliance (see this
	year’s objectives)
	Established formal Finance and Risk Committee of Trustees
Facilities	Moved into an office in Roehampton
	Moved Community Hub to out of school site
Partnerships	Entered into a strategic partnership with Elliot Foundation
Other Note Worthy	Partnered and launched Roehampton Community Week
	Partnered Roehampton Community Week Fund
	Ran Commonwealth Games related New Street Squash event
	Rebuilt and updated website

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Report of the Trustees for the year ended 31 March 2022

Partnering Strategy - we have a Partner Driven Model

We seek to build long term relationships with all our partners, to increase scaling and sustainability. We have 4 main types of direct operating partners

Hosting Partners - These are the Clubs, Universities, Sport Centre Operators and NGB sites. They provide the “Aspirational Element" and much of the support, role models and infrastructure that the programmes need. Many of the sites do significant amounts of work with us around the design, running and improvement of the programmes. Many also are very important partners around the local funding we attract. Some of the highlights this year were
Hosting Fundraising events e.g. Tennis and Squash days at the Roehampton club
Significant contribution in kind of infrastructure, resources and time (see next section)
University, school and member volunteers to support the coaches and teachers
Schools; the local schools select the children who participate and are integral to the running and development of all the programmes. We believe the schools have the closest and best knowledge around the needs of the children, and we ask the schools to select the children they feel will benefit most from the programme. The schools are not charged by the Charity for the starting 6 to 10 weeks pilots, but are asked to make a contribution of £350 per term towards the coaching costs if the decided to proceed to a full programme.
The Charity does pay for the teacher's time, and it is still a significant commitment from the school to provide the staff on a regular basis after school.
The schools are in areas of high disadvantage, often with high levels of free school meals (50+%).
Coaches – We have a number of professional coaches who are instrumental in developing the sporting performance and confidence of our participants. These young coaches are also outstanding role models who show the possibilities and opportunities of playing sport at a professional level.
National Governing Bodies and other Sporting Partners; We have strong relationships with the Sports' National Governing Bodies (e.g. LTA, Badminton England, Table Tennis England and England Squash) and the PSA World Tour that we can utilise to grow and develop these programmes. Ultimately, our ambition is to grow the number of sites and sessions taking place at each location and retain participants in Rackets Cubed activity. Our work currently with the NGBS has been particularly focused on
Pathways for continued involvement in the sports post the programmes e.g., local parks or clubs
Working closely together where the geographic focus of the Charity aligns with the priorities of the various NGBs

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Report of the Trustees for the year ended 31 March 2022

Partner's Contribution in Kind is Important and Significant

Many of our partners contribute significant resources free to charge to the programmes. The four most important ones to date are

Court Time ; currently almost all our host sites provide the Tennis, Squash or Sports Hall for the running of the sports sessions free of charge. The "market rates" vary significantly but can be as high as £75 per Tennis court per hour in some London settings. We conservatively estimate that the courts on average would cost us £25 per hour. We are usually given 2 to 4 courts per session. We do see that in some settings it is appropriate to pay for the courts, typically in municipal owned facilities that have been impacted by COVID and the significant energy price charges.
Teaching Rooms; The STEM / maths is delivered in a separated room with the supporting desks, chairs and related infrastructure. The "market rates" rates can be as high as £200 per hour e.g. for children's parties. We conservatively estimate that on average each room would cost around £100 per hour.
Provision of the Evening Meal; many of the sites currently provide the meals free of charge. Some are hot meals, and some are cold. We conservatively estimate that this would cost about £4 per child per session if we paid market rates. We do expect that in future settings we will have to pay for this component, and have that as part of our business plan, but that the majority of sites did not charge us in this financial year.
Volunteers; all our sessions are led by paid fully qualified coaches and teachers, however where possible we do have volunteers to help the coaches. All those volunteers give their time free of charge to the charity

In aggregate the non-cash contribution in kind is significant and is a sign of the large commitment given by many of our hosting partners. The Trustees estimate that for the 30 programs just the court time (£25 x 2 courts x 2hours x 30 sessions per year) and the teaching room (£100 x 2 hours x30 sessions) the imputed annualised infrastructure contribution to be over £225,000. Any volunteer and food benefit would be in addition.

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Report of the Trustees for the year ended 31 March 2022

The Community Boxes - Essential Food, Activity and Education Supplies

In response to the COVID lock downs we started the Community Box programme. We are now providing essential Food, Personal Hygiene, and Activity supplies "Community Boxes" to approximately 1,000 young families (4 to 5,000 people) in 7 cities and 17 sites. Throughout the year we evolve what is in the Boxes but look to provide weekly deliveries of;

Healthy Food; Fresh fruit, vegetables, pasta, rice, bread, soups, milk, protein etc
Personal Hygiene; Soap, Toothpaste, Toilet Paper
Note the Educational material content has dropped given the return to schools
Activity; colouring, pencils, games, sports – this is around Christmas and other holidays

To date the Community Box has given out over 1.2 million meals

Many of the communities are situated where social deprivation is high, poor physical health is prevalent, and where opportunities to develop confidence, and learn new skills can be difficult. Most of the communities have a significant number of Council tower Blocks.

A sustained period of lockdown has been a massive challenge for these children and their families. There is also a feeling of "isolation" for many of the young people from their traditional networks i.e. schools, clubs, friends etc, have been closed, and many are experiencing considerable mental and physical distress from the environment.

During the spring of 2022 the Roehampton Hub evolved further to become a social supermarket – where families choose their own groceries. This has given our families more dignity by allowing them to choose the products they take home and ultimately cook.

You have no idea how much this helps us all but I speak for myself being a single mother of two this absolutely saves me so much financial stress and I don't feel embarrassed as you all really ease the shame of having to admit it can be a struggle. I really appreciate what you do for the community it's so significant and yesterday I was completely blown away hence this email I was pleasantly surprised I didn't think it could get any better! You guy's are fundamental to every family you reach. ET Received 19th May 2022

The Community Box is amazing i don't know what i do without this box weekly all staff is great the choices of stuff is brilliant i am very grateful for all your hard work.

OM Received 9th June 2022

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Report of the Trustees for the year ended 31 March 2022

Roehampton Community “Week”

Phase 1 July to September 2021, Phase 2 Winter 2021 – Spring 2022, Phase 3 Summer 2022

The Community week was a new, community-led initiative for Roehampton and West Putney wards, which delivered a series of projects to improve the local area. The idea came from a number of community organisations and individuals, with Rackets Cubed taking responsibility around overall funding coordination, and supporting the health and activity elements of the week. The concept has been structured so that it is remains:

Community-led - designed to be led by, and serve, the communities' needs
Representative - open to everyone who wants to get involved; all ages and all communities.
A partnership with the Council in the planning, delivery and long-term development
Flexible - enabling people to participate how they would like to
Open and adapted to encourage and support local grass roots groups to apply to run projects

The original week involved over 50 local groups, 40 projects and was held on July 5th to 11[th] 2021. There was a series of subsequent projects over the winter of 2021 (approx. 20 projects), which have continued into spring and summer of 2022 (approx. 18 projects). We work closely with Wandsworth Council as a key partner across the whole project, and were supported by many of the key institutions in the area including, The University of Roehampton, Ibstock Place School, The AETLC, Wimbledon Foundation, The Roehampton Club, and the Roehampton Parish Trust. We were key drivers behind the refurbishment of the Alton Activity Centre (the main young family centre in the area) and the schools sports and activity days.

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Report of the Trustees for the year ended 31 March 2022

Funding

This year saw a relatively large increase in the funding for the charity as we transitioned back to running the core programmes. In addition we have been very focused on the longer term scaling through multi-year grants and partnerships.

We secured significant multi year grants from the following strategic partners

Sport England - £450,000 over 3 years, scaling of the core integrated programmes
National Lottery - £150,000 over 3 years with focus on “Roehampton” are (Core and Box programmes)
Philip King Charitable Trust - £10,000 per year with focus on “Middlesex” region and squash
Bernard Sunley Foundation - £10,000 per year with focus on “Hull” region

In addition we have entered into a strategic partnership and funding with the Elliot Foundation with respect to the Community Box programmes operating to support their schools.

During the year we also secured important programme support from

London Marathon Charitable Trust (as part of a 2019 £75,000 Rackets Cubed scaling grant)
Linklaters
Lloyds of London
The LTA
Wandsworth Council
The Roehampton Club
Roehampton University
Ibstock Place School
Roehampton Parish Trust
The Wimbledon Foundation
John Ryder Memorial Trust
The Coop
Nurture a Child
Allegras Ambition
Tennis Scotland
Tennis Scotland Foundation

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RACKETS CUBED Report of the Trustees for the year ended 31 March 2022

FINANCIAL REVIEW

Principal funding sources

The charity's principle sources of funding are grants, sales activities, donations and fundraising events.

The majority of grants have some form of restriction, even though many allow significant flexibility to cover a wide range of costs in a wide range of regions. We have adopted the policy of categorizing all grants for accounting purposes as “restricted” unless there is a stated policy by the grantor not to be. The majority of other sources have no restrictions against them, and we are able to deploy those income streams to best suit the needs of the charity

We have been working closely with Sport England to develop a range of policies which meet their governance requirements at the top level of funding. These include our approach on ED & I and the Environment, which will be further developed over the coming months. We have also pulled together a range of policies and procedures for our staff which are already being implemented.

Investment policy and objectives

The assets of the charity are held in liquid form to ensure the continuity of its operations.

Reserves policy

The trustees are confident that the operation of the charity can successfully continue by relying on grants, sales activities, fundraising, donations and contributions generated from the squash and tennis events.

There has been no change in financial risk profile; we seek to retain general unrestricted funds of between three and six months of expected operating expenditure for the following year to ensure that we can meet our ongoing programme commitments to the participants, their schools (with whom the standard term contract is 3 years), community clubs and other partners. We seek to retain 12 months of operating expenditures with unrestricted funds and committed funding

As mentioned in our future plans, we want to grow the number of programmes within London as well as in other cities and regions across the country. Raising funds for activities outside London will be challenging, but we are committed to delivering our programmes.

Budgeting and Financial Planning

We prepare an annual budget, which is reviewed quarterly by the Trustees and our Finance and Risk Committee. We are normally able to project our direct programme costs in a given year very accurately as we know the hours and rates for the year.

We believe we have developed a strong capability of operating in periods of uncertainty and dynamic change, which is supported by our flexible cost base. We are not looking to add structural fixed costs eg office space for the foreseeable future. This allows us to adjust our costs quickly and we will continue to assess with our Trustees on a quarterly basis

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Report of the Trustees for the year ended 31 March 2022

FUTURE PLANS

It is our intention, funding and pandemic permitting, to continue adding 25-35 programmes a year, across the UK, with the objective of being in 100+ sites by 2025. Particular areas of focus will include the North East/West, Birmingham and the Midlands, and London. We will grow the number of universities in the programme, as they often add an additional dimension to the experience of the children, and look to identify secondary schools with the facilities and expertise to host programmes. It is also our intention to further develop pathways for those children with an interest/aptitude for the sport, working with host sites and NGBs.

Community Box; We (and most of our partners) expect that the level of demand for the Community Boxes will remain elevated, and we will likely have to be flexible with respect to the quantities. We are currently working with all our partners, and in particular the Elliot Foundation where we currently operate 17 Hubs, about the best way to continue the programmes. We are currently planning for all to run until the summer of 2023, when we will then assess the level of need.

We will evaluate the success of our Roehampton self choice model, and may look to establish an additional one at a separate site

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Report of the Trustees for the year ended 31 March 2022

Selected Organisational Goals for 2022 / 23

Targeting 45 to 50 programmes by September 2023 (30 to 35 by March 2023 Year End)
• Evaluate Scottish and Welsh launches • Hiring of additional programme managers into • Midlands
Programmes Targeting 45 to 50 programmes by September 2023 (30 to 35 by March 2023 Year End)
• Evaluate Scottish and Welsh launches
Team Recruitment • Hiring of additional programme managers into • Midlands • London • Project Capability • Schools Engagement Officer • Communication, and marketing officer
Fundraising • Expand Corporate grants • Target additional larger multi-year grants • Expand Local fund raising • Evaluate the engagement or hiring of a fund raiser
Training and Development • Enhance programme for all Trustees and Volunteers Governance and Policies • Move to Tier 3 compliance with Sport England • Establish an operations / safeguarding committee
Facilities • Establish a permanent office at the Roehampton Community Hub Partnerships • Expand the number of Funding Partnerships • Look to further develop our education and nutrition networks
Other Note Worthy • Develop use of Salesforce and Mailchimp type of capabilities

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Report of the Trustees for the year ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The trustees are appointed by ordinary resolution of the members.

No person may be appointed as a Trustee unless they have been recommended by the Trustees and the appropriate notice has been given in accordance with the company’s Memorandum & Articles of Association. There must be at least three Trustees. This Board has a membership with no defined maximum number, and during the year had eleven members. The necessary business skills and knowledge of educational, physical and nutritional matters are well represented on the board of trustees.

At regular trustees’ meetings, the Trustees agree the broad strategy of the Charity, as well as approving all donations made, and consider the investment, reserves and risk management policies of the Charity. During the financial period, day to day decisions were delegated to senior employees, led by the Chief Executive Officer

When considering the appointment of new Trustees, the board has regard to the requirement for any specialist skills or characteristics needed, the need for diversity on the Board, together with general enthusiasm for the work of Rackets Cubed.

Subject to certain exceptions, the term of office of a Trustee is three years. A Trustee may not serve more than three terms. At the end of the three terms that person must step down and may not be re-appointed. The exceptions are:

A Trustee may serve on the Board for a maximum of twelve years if appointed as Chair of the organisation
A Trustee appointed in an Ex Officio capacity may serve on the Board for the duration of their holding the relevant office.
In exceptional circumstances (for example to assist succession planning), a Chair or Trustee may hold office for a further year.

When a Trustee has completed their maximum term, at least four continuous years must elapse before they can be eligible to stand as a Trustee for that organisation again. Any period off the Board of less than four continuous years will count as service on the Board, when calculating the maximum term served.

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Report of the Trustees for the year ended 31 March 2022

Appointment of Executive Officers

We have a team of 8 part time employees, who work various days a week. Most work 2 to 3 days a week. Current defined roles are:

Geoff Newton - CEO of Rackets Cubed Nikki Rossner - CEO of the Community Box Programme Johanna Afors - Chief Administration Officer Carrie Cantle (Nee Ramsey) - Programme Director Mark Bullock - Programme Director Vicky Evans – Programme Manager Jules Silvera-Abbas – Programme Manager Razia Dogar – Roehampton Community Hub Coordinator

Safeguarding

We have a Safeguarding Policy that is reviewed once a year. The staff and volunteers who deliver the programmes are all subject to their individual organisations Safeguarding Policy and Training requirements and all of these are overseen by OFSTED and shared with Rackets Cubed prior to delivery. Rackets Cubed has a named Designated Safeguarding Lead who delivers all of Rackets Cubed Safeguarding Policy, Training and Support.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have reviewed the risks inherent with the charity and consider these have been resolved or mitigated as far as possible to assure the future of the charity. The Trustees have adopted a risk management strategy which comprises:

a risk register to review the risks the charity may face;
review of key risk indicators (KRIs) to aid risk mitigation; and
systems, policies and procedures designed to minimise the impact on the charity should those risks materialize

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Report of the Trustees for the year ended 31 March 2022

The risk register and KRIs are updated every regularly reviewed by the FRC and the Board of Trustees. The principal risks and uncertainties facing the charity and plans for their mitigation are as follows:

----- Start of picture text -----
Risk Mitigating actions
• Regular monitoring of progress against targets, and of pipeline income
Funding • Increased fundraising capacity to explore new avenues of fundraising income
• Regular monitoring & review of strategic objectives by SLT and Trustees
Failure to deliver • Review and due diligence on new prospective programmes to ensure they meet our
strategic aims, charitable objectives
especially growth • Recruitment and training of high-quality coaches and staff to deliver our objectives
• Health & Safety and Safeguarding & Child Protection Committees in place
Health & Safety/ • Processes in place for risk assessment and management
Safeguarding issues •
Insurance held and reviewed annually
• Regular internal monitoring and reporting of the quality of programmes
Failure to deliver • Training and development provided to all members of staff who are involved in
programmes to a high programme delivery and management
degree of quality
• Trained Data Protection Officer coordinates the GDPR monitoring and review process
Data Protection and • Training for all staff members on key policies and practices
critical IT incidents • Rapid response plans in place to deal with IT issues to minimise any downtime
• Investment in new IT infrastructure and cloud-based software packages to ensure that there is
minimal disruption for critical services
• Regular monitoring and review of strategic, financial, and operational plans by Trustees and
staff
Critical incidents
• Review and updating policies and procedures in line with government advice and best practice
(COVID 19)
• Contingency and recovery plans to ensure services have minimal disruption
----- End of picture text -----

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Report of the Trustees for the year ended 31 March 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1170744

Principal address

17 Castello Avenue London SW15 6EA

Trustees M Hill Chairman of the Trustees C O'Driscoll Mrs S White R Ford M Holland Mrs A Jacobs B L Walker K Bartram (appointed 17.12.19) E Lewis (appointed 04.05.20) A Keothavong (appointed 17.09.20) S Forster (appointed 17.09.20)

Independent Examiner

Thorne Lancaster Parker Chartered Accountants 4th Floor Venture House 27-29 Glasshouse Street London W1B 5DF

COMMENCEMENT OF ACTIVITIES

The charity was incorporated on 14 December 2016, and commenced activities on 14 December 2016.

Approved by order of the board of trustees on 28[th] November 2022 and signed on its behalf by:

........................................................................ M Hill - Trustee

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Independent Examiner's Report to the Trustees of Rackets Cubed

Independent examiner's report to the trustees of Rackets Cubed

I report to the charity trustees on my examination of the accounts of Rackets Cubed (the Trust) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Christopher Kay Thorne Lancaster Parker 4th Floor Venture House 27-29 Glasshouse Street London W1B 5DF

Date: 28[th] November 2022

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Statement of Financial Activities for the year ended 31 March 2022

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 43,035 Other trading activities 2 130,388 Total 173,423 EXPENDITURE ON Raising funds - Charitable activities 200,511 Total 200,511 NET INCOME/(EXPENDITURE) (27,088) Transfers between funds 7 42,929 Net movement in funds 15,841 RECONCILIATION OF FUNDS Total funds brought forward 96,516 TOTAL FUNDS CARRIED FORWARD 112,357	Restricted fund £ 115,679 - 115,679 - 87,750 87,750 27,929 (42,929) (15,000) 30,000 15,000	2022 Total funds £ 158,714 130,388 289,102 - 288,261 288,261 841 - 841 126,516 127,357	2021 Total funds £ 167,571 40,197
			207,768
			- 189,583
			189,583
			18,185 -
			18,185 108,331
			126,516

The notes form part of these financial statements

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Statement of Financial Position For the year ended 31 March 2022

Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 3,321 Cash at bank 115,062 118,383 CREDITORS Amounts falling due within one year 6 (6,026) NET CURRENT ASSETS 112,357 TOTAL ASSETS LESS CURRENT LIABILITIES 112,357 NET ASSETS 112,357 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted fund £ 15,000 - 15,000 - 15,000 15,000 15,000	2022 Total funds £ 18,321 115,062 133,383 (6,026) 127,357 127,357 127,357 112,357 15,000 127,357	2021 Total funds £ 31,271 96,781 128,052 (1,536) 126,516 126,516 126,516 96,516 30,000 126,516

The financial statements were approved by the Board of Trustees and authorised for issue on 28[th] November 2022 and were signed on its behalf by:

............................................. M Hill - Trustee

The notes form part of these financial statements

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RACKETS CUBED Notes to the Financial Statements for the year ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

Fundraising events Sales costs School programme delivery	2022 £ 39,946 84,877 5,565 130,388	2021 £ - 40,197 - 40,197

continued...

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RACKETS CUBED Notes to the Financial Statements - continued for the year ended 31 March 2022

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,133 Other trading activities 40,197 Total 107,330 EXPENDITURE ON Event Hosting Costs - Charitable activities Sports Coaching 6,290 Food and Nutrition 12,412 Sportswear and Medals - Marketing and Advertising 216 Impact and Evaluation 5,295 Accountancy costs 2,267 Program delivery and Organisation 43,168 Central Administration & Organisation 20,000 Insurance 577 Repairs & renewals 672 Other 1,907 Total 92,804 NET INCOME 14,526 Transfers between funds (26,341) Net movement in funds (11,815) RECONCILIATION OF FUNDS Total funds brought forward 108,331 TOTAL FUNDS CARRIED FORWARD 96,516	Restricted fund £ 100,438 - 100,438 79 839 80,781 15,080 - - - - - - - - 96,779 3,659 26,341 30,000 - 30,000	Total funds £ 167,571 40,197
		207,768
		79 7,129 93,193 15,080 216 5,295 2,267 43,168 20,000 577 672 1,907
		189,583
		18,185 -
		18,185 108,331
		126,516

continued...

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Notes to the Financial Statements - continued for the year ended 31 March 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors London marathon charitable trust	2022 £ 3,321 15,000 18,321	2021 £ 1,271 30,000 31,271

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Taxation and social security Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Restricted fund	At 1.4.21 £ 96,516 30,000 126,516 as follows:	Net movement in funds £ (27,088) 27,929 841 Incoming resources £ 173,423 115,679 289,102	2022 2021 £ £ 2,992 - 304 306 2,730 1,230 6,026 1,536 Transfers between At funds 31.3.22 £ £ 42,929 112,357 (42,929) 15,000 - 127,357 Resources Movement expended in funds £ £ (200,511) (27,088) (87,750) 27,929 (288,261) 841

7. MOVEMENT IN FUNDS

continued...

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Notes to the Financial Statements - continued for the year ended 31 March 2022

7. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	At 1.4.20 £ 108,331 - 108,331	Net movement in funds £ 14,526 3,659 18,185	Transfers between funds £ (26,341) 26,341 -	At 31.3.21 £ 96,516 30,000
				126,516

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Unrestricted funds Restricted fund TOTAL FUNDS	Incoming resources £ 107,330 100,438 207,768	Resources Movement expended in funds £ £ (92,804) (96,779) 14,526 3,659 (189,583) 18,185

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	At 1.4.20 £ 108,331 - 108,331	Net movement in funds £ (12,562) 31,588 19,026	Transfers between funds £ 16,588 (16,588) -	At 31.3.22 £ 112,357 15,000
				127,357

continued...

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Notes to the Financial Statements - continued for the year ended 31 March 2022

7. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	Incoming resources £ 280,753 216,117 496,870	Resources Movement expended in funds £ £ (293,315) (12,562) (184,529) 31,588 (477,844) 19,026

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

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Detailed Statement of Financial Activities for the year ended 31 March 2022

INCOME AND ENDOWMENTS Donations and legacies Direct donations Corporate donations Grants Trustee donations Other trading activities Fundraising events Sales costs School programme delivery Total incoming resources EXPENDITURE Raising donations and legacies Roehampton rent Other trading activities Events hosting costs Charitable activities Sports coaching Teachers Community week costs Program delivery and organisation Food and nutrition Sportswear and medals Other Social security Pensions Sundries Entertainment Subscriptions Support costs Management Impact and Evaluation Carried forward	2022 £ 13,783 27,251 115,680 2,000 158,714 39,946 84,877 5,565 130,388 289,102 4,927 1,397 17,825 10,210 30,199 66,370 96,604 4,613 225,821 1,789 1,143 14,289 796 675 18,692 - -	2021 £ 37,133 25,000 100,438 5,000
		167,571 - 40,197 -
		40,197
		207,768 - 79 7,129 - - 43,168 93,193 15,080
		158,570 - 450 1,457 - -
		1,907 5,295 5,295

This page does not form part of the statutory financial statements

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Detailed Statement of Financial Activities for the year ended 31 March 2022

Management Brought forward Central administration & organisation Marketing and advertising Finance Bank charges Information technology Insurance Repairs and renewals Governance costs Accountancy and legal fees Total resources expended Net income	2022 £ - 23,579 448 24,027 16 577 680 1,257 12,124 288,261 841	2021 £ 5,295 20,000 216
		25,511 - 577 672
		1,249 2,267
		189,583
		18,185

This page does not form part of the statutory financial statements

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