2024-03-31-accounts

Report of the trustees and unaudited financial statements for the year ended 31 March 2024 Annual report

Rackets Cubed

The programme numbers in the report relate to the academic year 1 September 2023 to 31 August 2024

Our mission

Rackets Cubed’s mission is to enhance the achievement of children, improving their mental wellbeing and physical literacy, making them happier, healthier and more confident children.

We use our core programmes to help underserved children achieve their full potential, drawing on a unique combination of racket sports, STEM education and nutrition. We also provide broader local community support through our Community Box programme and Community Partnership Hub activities.

Contents

• 2 Our 2023/24 highlights

4 An introduction from our Chair

6 In conversation with Nikki Rossner, CEO

• 8 Trustees’ report

• 8 About us

10 Rackets Cubed

16 Community Box 19 Thank you!

20 Financial review

22 Our structure, governance and management 24 Independent examiner’s report 25 Statement of financial activities 26 Statement of financial position 27 Statement of cash flows

27 Notes to the statement of cash flows 28 Notes to the financial statements 35 Detailed statement of financial activities

37 Reference and administrative details

Rackets Cubed Annual Report 2024 1

Our 2023/24 hi hli hts g g

1,384 children took part in 40 dynamic Rackets Cubed programmes in 15 cities

2 Rackets Cubed Annual Report 2024

Increased income to over £550,000 from our strategic partners

Launched our Community Cuppa and Community Partnership Hub initiative in Roehampton

Continued to work with the Elliot Foundation and their 18 Community Box hubs

Developed our Community Partnership model to connect with other local organisations and charities in Roehampton

Ran our first Continuing Professional Development (CPD) event for primary school teachers

Roehampton Community Week supported 9 projects

Launched our quarterly newsletter to keep our partners and the entire Rackets Cubed community engaged in our activities

41,963 Community Boxes provided from 19 sites helping

1,000 families every week

The current cost-of-living situation has affected me and my children because of the increase in my gas and electric bills. It has been difficult with feeding especially, but I am very grateful for the opportunity given by the food hub which allows me to provide for my girls until I am able to get a better job.

Anon

Rackets Cubed Annual Report 2024 3

From our Chair

This has been another incredibly difficult year for so many people. The brutal economic climate that I mentioned in my introduction to last year’s report has continued to have a significant impact on the communities where we work.

Michael Hill, founder and Chair of Trustees of Rackets Cubed

More and more families – many of them young – are struggling to juggle the cost of soaring rent, energy and food. At the same time, the food banks and food surplus charities that a growing number of them rely on are struggling to keep up with demand. And not just because more people are using them but because supermarkets are increasing their efforts to reduce food waste. That is to be commended but the knock-on effect is profound. We’ve seen that in our social supermarket in Roehampton. Meanwhile, schools – which are often a stabilising force in a community – are facing funding pressures, which makes it harder to pay teachers for extra-curricular activities like the Rackets Cubed programme.

Of course, we’ve not been immune either. As well as the challenges our partners are facing that have a knock-on effect on what we do, we’ve had to manage our own rising costs at a time when charitable funding has been hit extremely hard. The current climate has forced us to make some tough decisions, including scaling back our activities in the northeast of England.

I also said last year that I am an uber optimist. That hasn’t changed. In fact, I am more convinced than ever of the urgent need for the kind of support we offer. I also believe in finding the opportunity within a challenge and what this incredibly tough year has given us is an opportunity to reflect on our strengths and how we can use them to create an even greater, deeper impact. What has become very clear is that the model that we’ve built in Roehampton – through both the original integrated Rackets Cubed sport and STEM programmes and The Community Box – has given us the blueprint to do just that.

We have over 1,020 families on our Roehampton Community Box database and have handed out over 30,106 bags of groceries.

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I am more convinced than ever of the urgent need for the kind of support we offer.

We set up The Roehampton Community Box back in 2020, working with one school to help provide essential food and hygiene products to families who needed them most during the Covid-19 pandemic. We only expected it to last three weeks.

Four years later, by integrating both concepts we have developed our Community Partnership Hub strategy. This dual community-based activity integrates our dedicated community hub offering with our ‘out of and after school’ sport education and nutrition programme. This strategy is key to scaling our operation in future – it embeds us deeper in the local communities and enhances our longer-term impact and sustainability. We estimate our first pilot Community Partnership Hub has cost around £125,000 to run and receives nearly £500,000 per year in contributions in kind, supporting 200 young children and 200 young families every week. This partnership model allows us to tackle food, activity and income poverty all at the same time.

So, what started out as a way of staying connected with the community in a time when we couldn’t run our Rackets Cubed activities has become an increasingly important part of what we do.

We’ve built our model on the foundations of good nutrition, physical exercise and educational support, working with partners who have specific skills in these areas. And we now see an opportunity to fully integrate the two aspects of our organisation, to create more of these hubs and offer more holistic support to families in communities who are struggling.

The success of Roehampton is also thanks in large part to the support we’ve had from Wandsworth Council, City Harvest, The Felix projects and other local institutions (Faith groups, DLAG, local schools and clubs). We’re able to run the hub from one of its buildings in the centre of Roehampton at no extra cost. That, in turn has given us the ability to offer space for other complementary services, such as Citizens Advice and domestic abuse charities. This sort of ‘in-kind’ contribution is transformational for a charity like us, enabling us to achieve significantly more than from fundraising alone.

Another significant partnership is the one we have established with the Elliot Foundation over the last five years. Having introduced The Community Box in one school five years ago we are now helping families in 18 Elliot schools navigate the hardship of food and hygiene poverty. You can read more about how and why this partnership has been so successful in the CEO Q&A on page 6.

What I believe our model shows is how we can deepen our impact, working with the right partners to create a more efficient, meaningful and sustainable support network for people who desperately need it.

There’s no doubt that this has been a painful period for our charity and that there will be more challenges in the coming year and much for us to learn as we develop these new hubs. But I truly believe that the work the team has done this year to navigate the economic challenges and integrate the two sides of our charity means that we have an utterly compelling approach that can be replicated across the UK.

Michael Hill Chair of Trustees

Rackets Cubed Annual Report 2024 5

In conversation

CEO Nikki Rossner talks to Hugh Greenway, CEO of the Elliot Foundation Rackets Cubed and the Elliot Foundation have worked together successfully for a number of years drawing on their respective skills and experiences to help thousands of families navigate increasingly higher costs of living and food poverty. Nikki Rossner and Hugh Greenway discuss why this partnership is so important and how it benefits the communities they support.

When and why did you decide to work together?

Nikki : We first came across the Elliot Foundation in the Covid-19 pandemic, when we were adjusting our programme to lockdown restrictions and setting up The Community Box. It was a breath of fresh air to meet Hugh. We both like to make things happen; it’s quite rare to meet a partner that is willing to say, ‘Let’s just give it a go and see where it leads.’

Hugh : It was a meeting of minds. I had become increasingly angry at the scale of food poverty in our schools. I’d also been introduced to The Felix Project and Fulham Football Club where I saw the benefits of providing food and sport together. So I started looking for partners to work with on something similar, and found out that one of our schools was already working with Rackets Cubed. I saw immediately that this was an organisation trying to solve the same problem with a ‘can-do’ approach that I could immediately relate to and trust.

With the core Rackets Cubed programmes and the Community Boxes combined, we have supported over 127,000 people this year .

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Why is the partnership so important?

Nikki : The scale of the problem requires a different approach. It’s too big for one charity to try and solve by itself. As a society we talk about food poverty as if it’s only a problem for the homeless community or people in transient groups – that’s wrong. The Trussell Trust released data recently that said 68% of working households claiming Universal Credit have gone without essentials in the last six months; 4 million children are living in poverty with food insecurity in UK (Joseph Rowntree Foundation 2024). We also talk about a cost-of-living ‘crisis’, and that’s also wrong. There is no end for a lot of the families we support, this is just life. We have one Elliot Foundation school in south London where 50% of the families are receiving a food box every week.

Hugh : It’s easy to underestimate the seriousness of the problem and how many people need the type of support provided by The Community Box. It has very sadly got to the stage where even as a national living wage employer we have some part-time staff who are working two or three jobs, and still rely on their weekly box for food security. It’s heartbreaking.

Nikki : At the same time, budget cuts mean that local councils are no longer able to provide some of the services we’re offering through our community hubs. But what they can provide is space for us to build those hubs. When you combine that with the skills and relationships we’ve built to access food and other services with the Elliot Foundation’s ability to discreetly identify the families that need most support, these partnerships become an essential lifeline for our communities.

What are the benefits of working together?

Hugh : We are now operating in a state and charity sector that is so fragmented that you lose most of your effort to entropy. So the biggest benefit is simply being able to combine our skills and experiences to create something that is greater than the sum of its parts. I can go into my schools and say, ‘We’re working with Rackets Cubed’ and that saves time and creates efficiency for Nikki and her team.

Nikki : And Hugh’s team knows exactly which families within their schools may need help and can direct them to us discreetly so we can support them with care and compassion and help them avoid the sense of stigma that people often feel when relying on charity. There are also some real practical benefits. For example, the Foundation provides us with a regular income which gives us some financial security in a time when funding isn’t always easy to get.

What impact has your partnership had on the communities you support?

Nikki : In terms of numbers, we’re operating in 18 schools supporting around 1,000 families every week. That translates to around nearly 42,000 food boxes this year – about £1.5million of in-kind benefit to some of the most vulnerable people in our communities, at a fraction of the cost of delivering them.

Hugh : Numbers only tell part of the story, though. Some elements of community impact can be hard to quantify, but I think when people read the rest of this report, they’ll get a sense of just how significant Rackets Cubed’s impact has been this year.

What’s next? How do you see the partnership developing?

Nikki : The partnership has been evolving since day one – we’ve gone from delivering food parcels in response to Covid-19 to developing holistic community partnership hubs that provide a focal point for a range of different services. Just recently, for example, we ran a session showing people how to cook a simple meal and sent them home with a recipe card and a bag of ingredients to make it themselves.

There’s definitely more we can do, and councils are starting to come to us now offering us building space in exchange for creating these hubs. So as well as evolving, the partnership is growing. I hope that very soon we’ll see new hubs opening in North London and Birmingham.

Hugh : I think we’re creating a national, sustainable programme centred around these hubs and I’d love to see more of them around the country. They are anchors of trust and a positive space within a community that gives people a sense of agency and ownership. I think that’s at the heart of making the world a little less fragmented.

Nikki : I completely agree. I think the nature of our partnership is that we’ll always stay open to new ways of working together to support our communities, but now it’s about growing the partnership, replicating what we’ve achieved in places like south London and then deciding where to go next.

Rackets Cubed Annual Report 2024 7

Trustees report

About us

Our objective is simple: to help primary school children from underserved communities perform at their highest potential.

The way we do it is even simpler: each week our core Rackets Cubed programme provides them with unique access to racket sports, alongside additional science, technology, engineering and maths (STEM) tuition and a nutritious meal. The outcome is children with better physical and mental health, who begin to aspire to bigger things and who ultimately perform better at school.

[Find out more in our Rackets Cubed section on pages 10-14.]

We run a community-based programme, called The Community Box, in partnership with the Elliot Foundation to provide essential food and hygiene products to local families in need.

[Find out more in The Community Box section on pages 16-18.]

In Roehampton (London) we have built on the community box model and run a ‘social supermarket’ and Community Partnership hub, which includes the Community Cuppa where we serve free tea and coffee and invite local partnership organisations to attend to provide support and advice to our families.

[Find out more on page 16-18.]

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It’s been great to see the children keeping active and fit throughout the whole school year and doing this outside of school hours. They have learnt a new skill with their tennis and also advanced the level of their maths skills.

Joe Hollis Tennis Coach, Billesley

Rackets Cubed Annual Report 2024 9

Trustees’ report

Rackets Cubed: Our core programme

We launched Rackets Cubed back in 2016 to help primary school children in underserved communities enjoy extracurricular sports and education sessions in a sporting environment that they might not otherwise have access to.

We do this by connecting ‘host’ sites, such as universities, sports clubs and leisure centres, with local primary schools that have high ‘income deprivation’ ratings. Our hosts – typically located within a mile of a participating school – provide access to facilities and equipment, coaches, court time and teaching infrastructure.

Rackets Cubed is designed in partnership with our schools and we typically work with headteachers, PE leads, and governors to ensure the programme meets three criteria:

meeting the needs of underserved pupils;

• offering something different to other programmes; and

complementing the curriculum.

We know from talking to school staff that many of the pupils we work with struggle with social inclusion and low confidence. Many miss out on support at home and speak English as an additional language. A high proportion are young females and from ethnic minority backgrounds. Many are also eligible for Pupil Premium.

Very few of them are able to attend extracurricular activities outside of school time, and often this is their first experience of a racket sports club or university campus. Working together in this way helps break down perceived and real barriers and perceptions about who has the right to access these opportunities.

Time and again we have witnessed our young people grow in confidence and start to see further opportunities for themselves as a result of the Rackets Cubed experience.

How Rackets Cubed works

Once a week, primary school children from underserved areas head to a host site to take part in a sports and education session and receive a free nutritious meal. Each child attends around 30 sessions a year.

We work primarily with young people aged 7-11 who are living in some of the country’s most underserved areas – places rated between 0.2 and 0.5 on the Income Deprivation Affecting Children Index. Currently we operate in cities including Birmingham, Halifax, Hull, Leeds, London, Liverpool, Manchester, Nottingham and York.

Our vision – why we do this

Increasing evidence shows that active children do better academically, and that nutritious food improves classroom behaviour. Indeed, research has identified a number of factors that adversely affect a child’s learning and development:

• Being overweight affects a child’s health and fitness, which has a knock-on effect on their learning and development

• Obesity can adversely affect self-esteem, participation and confidence – all key to a child’s development

• Underserved children are less likely to participate in physical activity outside of school.

• Schools that introduce nutrition and physical activity tend to have the biggest impact in disadvantaged populations

• Less hungry children perform better and have a better chance of being happy, resilient learners

We believe that our three-pronged approach – sports, education, nutrition – is uniquely designed to address the issues raised in this growing body of evidence.

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Each Rackets Cubed session features:

An hour of racket sports

This is led by qualified coaches who work with the schools, teachers and volunteers to understand the needs of the children. These sessions are designed to encourage young people to take part in physical activity, helping to develop their confidence and healthier lifestyles. For many of the young people involved, this is their first introduction to racket sports. And while we work with them to develop new skills and techniques, the main goal is to have fun and create a positive first experience of the sport in question

An hour of education

After their hour on the court, we run a one-hour session focused on science, technology, engineering and maths (STEM) subjects. These are delivered by professional teachers, outside the classroom and in a less formal, fun, learning environment. These sessions are incredibly important in helping our young participants boost their academic potential and confidence.

A nutritious meal

Every child receives a free meal during their session, as well as nutritional advice and education to help them make healthier choices outside of the programme.

What do children get from Rackets Cubed?

We believe our programme helps:

Improve mental health – confidence, happiness and wellbeing

• Improve physical health and physical literacy

• Provide a nutritious meal

Build resilience through structured challenges in a new sport and setting

We currently operate in 15 cities across England

• Create a positive impact on school and educational engagement

Rackets Cubed Annual Report 2024 11

Trustees’ report

Rackets Cubed: Our core programme

Our partnerships

We aim to build long-term relationships with all our partners, so that we can keep growing at a sustainable rate.

We work with four main types of partner:

Our host sites

These sports clubs, sports centres, universities and national governing body sites provide much of the support, infrastructure, time and role models that we need to run the programme successfully. Many of them work closely with us on the design, day-to-day running and improvement of the programme. Their support is also invaluable in helping us attract further local funding.

Our schools

We work with 40 primary schools in underserved communities, often with high numbers of children relying on free school meals (50+%). Like our host sites, school staff are integral in helping us develop and run our programmes. For example, the schools select the children they feel will benefit most from the programme since they have the best knowledge of their needs and the processes in place to protect their data. We do not charge the full cost of the programme but instead ask for a contribution of £350 per term to ensure their commitment. It is a significant undertaking from the school to provide staff on a regular basis for after-school activities, so we pay for participating teachers’ time.

Our in-kind contributions from partners

Many of our partners contribute a significant of resources for free to our programmes. To date, the three most important contributions are:

Court time

Almost all our host sites provide the tennis, squash or sports halls free of charge so that we can run our programmes. Market rates vary significantly but can be as high as £75 for an hour on a tennis court in some parts of London. We conservatively estimate that, on average, the courts would cost us £25 an hour, and we are usually given two to four courts per session. In some instances, we believe it is appropriate to pay for the courts – typically in municipal-owned facilities that are now dealing with significant energy costs.

Teaching rooms

The STEM class is delivered in a separate room with the appropriate infrastructure. Market rates can be as high as £200 an hour, for example for children’s parties. We conservatively estimate that each room would cost around £100 an hour.

Meal provision

Some of the sites we work with currently provide meals – both hot and cold – free of charge. We estimate that this would cost about £5 per child per session if we paid market rates.

In aggregate this non-cash, in-kind contribution is significant.

Our coaches

We work with professional sports coaches who are instrumental in helping participants develop their sporting performance and confidence. Many of them are young coaches early on their career path. This makes them outstanding role models for our participants – many of whom have never visited a sports club or university or taken part in a racket sport before. Very often working with our coaches opens their eyes to the possibilities and opportunities of playing sport at a professional level.

Our future plans

To continue to have a positive impact on the children that we work with and the wider communities that we support. The model we have created in Roehampton is a blueprint for our future expansion. In Roehampton we have integrated the concept of the of Rackets Cubed core programmes and the Community Box to develop a Community Partnership.

National governing bodies and other sporting partners

We have strong relationships with sports-based national governing bodies, such as the Lawn Tennis Association, Badminton England, Table Tennis England and England Squash, as well as the Professional Squash Association World Tour. These relationships are essential in helping us grow and develop our programmes.

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My son loves going to Rackets Cubed. His confidence has improved, and he loves the meals they provide. Parent Warley Road

Case study New opportunities for kids at Warley Road Primary Schools in Halifax

In 2023/24, Rackets Cubed, Warley Road Primary School and Queens Sports Club came together to bring an opportunity to 30 children. Weekly sessions included a squash session with Level 3 coach Sarah Campion, a maths lesson, and a hot, healthy meal, all on site at the impressive Queens Club venue in Halifax.

The strong relationship between the club and Rackets Cubed really helped drive this programme and bring about such an amazing opportunity for the children at Warley Road Primary School.

It’s fantastic to feel the class’s infectious energy as they enter the building, clearly excited to play squash again! The best thing about running a Rackets Cubed programme is seeing the delight and pride on the children’s faces as they conquer a new skill!

Our Rackets Cubed programme has not only helped to cultivate hand-eye coordination and racket skills, it’s helped to nurture healthy competition, sportsmanship and teamwork – all vital life skills!

I would absolutely encourage other clubs to host a Rackets Cubed programme, it enables you to give local kids more opportunities and it’s also extremely rewarding!

Coach Warley Road

Rackets Cubed Annual Report 2024 13

Trustees’ report

Rackets Cubed: Our core programme

Our impact in 2023/24

1,384 children supported nationwide across 15 UK cities

70% of children improved their overall fitness

10 out of 11 participating schools reported improved speed and agility in children on the programme

59% of girls had improved mental wellbeing

88% of children look forward to Rackets Cubed

82% of children said they felt happier after participating

88% of parents said Rackets Cubed had a positive impact on their child’s wellbeing

100% of teachers said that Rackets Cubed helped build confidence in their children

He loves the different meals and enjoys the maths. He never wants to miss a day of Rackets Cubed. Keep doing what you’re doing. Thank You!

Parent

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Case study A strong partnership: Gallions Primary School, University of East London and Rackets Cubed

In January 2023 the strong partnership between Gallions Primary School in Newnham and the University of East London was born. The programme has continued to flourish and benefit 30 year 5 children who attend weekly sessions, which comprises of a tennis session, maths lesson and a warm nutritious meal provided by onsite caterers.

Rackets Cubed, Gallions and UEL’s close partnership ensures that the organisation, delivery and success of this programme is a great example of what can be achieved.

J has loved the Rackets Cubed programme. He never shows an interest in after school programmes, but we encouraged him to go to this as he showed some interest in tennis last summer. We’re so pleased we did, as from the first session he loved it and always looks forward to Thursdays. He is particularly complimentary about the food! Thank you for your hard work in partnering with schools to bring this programme to young people!

Parent from Gallions Primary March 24

It’s like once they put on a Rackets Cubed t-shirt, they become a superhero.

Rackets Cubed won partner of the year award from our amazing host site – UEL May 2024

It’s a breath of fresh air this programme. The children come here every week and are absolutely buzzing.

Kevine from UEL March 2024

Teacher, London

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Trustees’ report

The Community Box: Supporting local communities

As well as our core Rackets Cubed programme, we have developed a community-based programme to provide essential food and hygiene products to families that need them most.

Called The Community Box, we introduced the programme at the start of the Covid-19 pandemic. We began with one school and expected it to last for three weeks. Three years later, we now help over 1,000 families every week from 19 sites – mainly via our network of primary schools.

Many of those families live in communities that face high social deprivation. They are now heavily affected by the current cost-of-living crisis. The need for The Community Box has never been greater.

We are developing the Community Box programme further by strengthening our partnership with the Elliot Foundation by establishing more Community Box hubs at the Foundation’s schools.

In Roehampton we are further developing our community focus by establishing community partnerships with local organisations such Citizen’s Advice, Little Village and Thinking Works. We invite them to attend our Community Cuppa event so they can meet our families in a warm friendly space to give advice and guidance on other services available to them.

How The Community Box works

Thanks to strategic partnerships with several surplus food suppliers, The Community Box gives families in low-income areas access to extra food.

In May 2022, we turned The Community Box programme at our Roehampton hub into a social supermarket. This gives families more dignity, by allowing them to choose their own groceries rather than a pre-packed box. We are working on plans to open more social supermarkets in the future. For more information on our social supermarket, see our case study on page 17.

I am a single mum and have 5 children. By picking up essentials at the Roehampton Community Box every week it helps me to afford other shopping I need for my family.

A Community Hub user

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Case study The Roehampton Community Box: run by the community for the community

To date, we have handed out more than 30,106 boxes – the equivalent of about 301,060 meals!

The social supermarket operates a self-referral system, although the families we help must live within the SW15 postcode. To help us manage stock levels we ask people to sign up for a one-hour timeslot. We also ask for a £4 contribution; in return each customer gets approximately £40 of groceries.

The model has proved very popular and since the supermarket opened its doors, we’ve helped more than 1,000 families. Today, we continue to support 180 families every week within the Roehampton area, a highly underserved part of Wandsworth.

The social supermarket is run by a team of 25 local volunteers and most of our groceries are donated by other charities. We get the bulk of our food from the Felix Project and City Harvest, as well as regular donations from the Dons Local Action Group, Waitrose, The Ahmadiyya Muslim Association, The Wandsworth Hygiene Bank, local street collections and several local schools and faith groups. We also purchase a range of groceries from local supermarkets to maintain our stock levels.

We have become a Community Hub and this year we launched the Community Cuppa which serves free tea and coffee and gives families an opportunity to meet with and get advice from our community partner organisations such as Citizen’s Advice, Thinking Works and Little Village.

180 families helped every week

I love volunteering at the Community Cuppa because I feel that I am making a difference by engaging with the community residents by listening to them, sharing problems, advising individuals and fostering good relationships with decent people. I eagerly look forward to my Wednesday morning shift in order to contribute to somebody’s day and life.

A Community Hub volunteer

Rackets Cubed Annual Report 2024 17

Trustees’ report

The Community Box: supporting local communities

Our community partnerships

The Community Box could not exist without the support of our surplus food suppliers and growing team of volunteers

Our surplus food suppliers

In London we work closely with the Felix Project, Dons Local Action Group, and City Harvest. Together, they supply much of the food that we distribute. But we also rely on food and financial donations from Waitrose, local private schools and religious organisations and receive regular donations of toiletries from the Hygiene Bank and pet food from the Blue Cross. Outside London, we work with FareShare.

The majority of The Community Box distribution sites are located at primary schools that are part of the Elliot Foundation. It would not be possible to run our extensive network of hubs without our close relationship with the Foundation.

Our impact in 2023/24

Since we started the Community Box programme back in March 2020, we have given out more than 177,798 boxes. That includes 41,963 boxes of food this year alone.

We’ve seen a particular increase in the number of people accessing the programme following the cost-of-living crisis. And the feedback we get from people who rely on The Community Box demonstrates why we continue to support the programme.

This year, The Community Box:

• provided essential food and personal hygiene products to approximately 1,000 young families out of 19 sites located in London, Birmingham and Peterborough.

• supported 180 families a week via our social supermarket in Roehampton where participants can select the items that they want.

Our volunteers

Some of The Community Box sites are run by volunteers who give their time free of charge. For example, a team of 25 local volunteers support The Roehampton Community Box – a large proportion of whom also benefit from our service. To support them, we’ve published a Volunteer Handbook outlining the supermarket’s policies and procedures and code of conduct.

Other Community Charities

In Roehampton we have formed partnerships with Citizen’s Advice, Thinking Works and Little Village. We invite these charities to attend our Community Cuppa event where they can meet people in a warm, friendly space to provide advice, and help them understand who they can turn to for additional help.

Our future plans

We are planning to continue to increase our network of Community Boxes in partnership with the Elliot Foundation, and we are hoping to establish more social supermarkets.

The model we have created in Roehampton is a blueprint for our future expansion. In Roehampton we have successfully integrated the concept of the of Rackets Cubed core programmes and the Community Box to develop a Community Partnership Hub supporting nearly 200 families weekly. We plan to roll out the same model in other parts of London and the Midlands in conjunction with key partners.

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Thank you!

Schools

London

The Alton Primary School Bruce Grove Primary School East Sheen Primary School Highfield Primary School Heathmere Primary School Sacred Heart Catholic Primary School Tolworth Junior School Gallions Primary School St Charles Catholic Primary School Thomas Fairchild Community School

Midlands

Billesley Primary School Clifton Primary School Dovecote Primary School Dunkirk Primary School Wheelers Lane Primary School Tiverton Academy

North East

Bankfields primary School Clifton Green Primary School Haxby Road Primary Academy Hilton Primary Academy Southcoates Primary Academy Stocksfield Avenue Primary School St Lawrence CE Primary School

North West

Cavendish Community Primary School Lawrence Community Primary School Riddlesden St Mary’s Primary School Middleton Primary School Warley Road Primary School Windsor Community Primary School Co-op Academy Beckfield Co-op Academy Oakwood Shakespeare Primary School Rolls Crescent Primary School

Host-sites

London

Ibstock Place School The National Tennis Centre Roehampton Club Roehampton University Surbiton Racket & Fitness Club Tottenham Green Leisure Centre University of East London The Dalgarno Trust

Midlands

Billesley Tennis Centre Nottingham Trent University Wolverhampton Lawn Tennis & Squash Club Nottingham Tennis Centre University of Birmingham

North East

York St John University Tyneside Badminton Centre York University Woodford Leisure Centre

North West

The Northern Lawn Tennis Club Liverpool Tennis Centre Ilkley lawn Tennis & Squash Club Moss Side Leisure Centre Queens Sports Club Toxteth Firefit Hub

Scotland

Barrhead Foundry Gracemount Leisure Centre

With huge thanks to all of the host-sites who work with us to provide facilities, coaches and catering for our programmes.

Funders

Sport England National Lottery LTA Tennis Foundation Bernard Sunley Foundation The Wimbledon Foundation John Ryder Memorial Trust Wandsworth Council Tees Valley Community Fund Tennis Scotland Tennis Scotland Foundation The Innholders Charity Amazon Europe Mazars Charitable Trust Goldman Sachs Pest Houses Ibstock School ILTSC Events Limited

With huge thanks to all of our generous individual donors, supporters and volunteers

Delivery Partners

Elliot Foundation City Harvest FareShare Felix Project Dons Local Action Group Wandsworth Hygiene Bank Blue Cross Waitrose

With huge thanks to all of the partners who supply us with food and donations for our Community Boxes

Scotland

Carlibar Primary School St Catherine’s & Gracemount

With huge thanks to all of the teachers, teaching assistants and staff whose energy and commitment made it possible for their students to take part in our programme at these schools.

Rackets Cubed Annual Report 2024 19

Trustees’ report

Financial review

Key financial and operational highlights from the year

We continued to develop our Rackets Cubed core programmes over the last 12 months to support 1,384 children through 40 programmes. We provided 41,963 food parcels through our network of 19 Community Box hubs.

Our revenue and fundraising

We continue to be focused on longer-term scaling through multi-year grants, and the development of payment for our provision. These require the development of longer-term relationships and represented approximately 70% of this year’s revenues. Our revenues fall into four broad categories:

Our principal funding sources

We raise funds from several key sources, such as grants, sales activities, donations and fundraising events.

The majority of grants have some form of restriction in their criteria, even though many allow significant flexibility to cover a wide range of costs in a wide range of regions. With that in mind, it’s our policy – for accounting purposes – to categorise all grants as ‘restricted’, unless there is a policy by the grantor that states otherwise. The majority of other sources have no restrictions against them, and we are able to use those income streams in the way that best suits our needs.

• Donations and Legacy – £38,024

• Roehampton Community Box – £27,824

• Sales and Trading Activities – £121,013. The Elliot Foundation represented the majority of this and has become an important long-term partner for us

Investment policy and objectives

We hold our assets in liquid form to ensure the continuity of our operations.

• Restricted Grants –£354,758

We have significant multiyear 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”

• The LTA Tennis Foundation – £173,460 over 3 years

During the year we also secured important single year programme support from:

• The Wimbledon Foundation

• John Ryder Memorial Trust

• Wandsworth Council

• Ibstock Place School

• Tennis Scotland

• Tennis Scotland Foundation

We wish to thank all those funders who have supported us, without this support we couldn’t run our programmes and support the children.

Reserves policy

The trustees are confident that we can continue to operate successfully by relying on grants, sales activities, fundraising, donations and contributions generated from squash and tennis events.

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

We plan to consolidate to 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 strong capabilities to operate in periods of uncertainty and dynamic change, supported by our flexible cost base. We are not looking to add structural fixed costs, such as office space, for the foreseeable future. This allows us to adjust our costs quickly and we will continue to assess our situation with our trustees on a quarterly basis.

20 Rackets Cubed Annual Report 2024

Selected organisational goals for 2024/25

The current economic climate has meant that we have had to manage our own rising costs at a time when charitable funding has been hit hard. It has forced us to make some tough decisions. We’ve decided to curb our core programme expansion and focus on our successful community model, where we use our strong relationships with other local organisations to develop Community Partnership Hubs where the core Rackets Cubed programmes and Community Box programme are integrated.

Programmes	Consolidate the geographical footprint of our existing programmes and focus on strong long-term programmes Develop the concept of our Community Partnership Hubs, where we integrate our community and ore programme oferings
Fundraising	Increase the value of corporate grants Target additional larger multi-year grants Expand local fund raising
Training and development	Expand the training programme for all staf, trustees and volunteers Continue with all staf training and development, in particular safeguarding and EDI (Equality, Diversity and Inclusion), which are compulsory and must be completed annually
Governance and policies	Johanna Afors to lead on safeguarding, Carrie Cantle as Deputy Complete a trustee skills audit to identify the skills we need to add in our next round of recruitment Recruit new trustees to support the development of our Community Partnership Hub Strategy
Partnerships	Expand the number of funding partnerships to six Evaluate deepening our relationship with the Elliot Foundation Academies Trust Look to further develop our education and nutrition networks

Rackets Cubed Annual Report 2024 21

Trustees’ report

Our structure, governance and management

Governing document

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

Appointment of Executive Officers

We currently have a team of nine part-time employees, who work various days a week – most of them two to three days a week. Current defined roles are:

Geoff Newton – President

Recruitment and appointment of new trustees

Our members appoint our trustees by ordinary resolution. 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. During the last year it consisted of 11 members. The necessary business skills and knowledge of educational, physical and nutritional matters are well represented on the Board of Trustees.

The trustees’ meet regularly to agree our broad strategy, as well as approving all donations made, and considering our investment, reserves and risk management policies. 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 considers a range of needs, including any specialist skills or characteristics, Board diversity, and general enthusiasm for the work of Rackets Cubed.

Subject to certain exceptions, the term of office for 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 12 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.

• Nikki Rossner – CEO of Rackets Cubed

• Johanna Åfors – Chief Operating Officer

• Carrie Cantle – Programme Director

• Vicky Evans – Programme Manager (North East)

• Jules Silvera-Abbas – Programme Manager (North West)

• Becky Downes – Programme Manager (London)

• Dan Trump – Schools Programme Assistant

• Natalie Price – Roehampton Community Hub Manager

Safeguarding

We have a Safeguarding Policy, which we review once a year. Any staff member involved in a Rackets Cubed programme is subject to their respective organisations’ Safeguarding Policy and Training requirements. These are overseen by Ofsted and shared with Rackets Cubed before the programme begins.

Rackets Cubed has a named Designated Safeguarding Lead (currently Johanna Åfors) who oversees every aspect of our Safeguarding Policy, training and support. Carrie Cantle is Deputy Safeguarding Lead.

All trustees are required to attend a safeguarding for trustees course or similar training. We log all course details and attendance. This year we ensured all trustees attended a Trustee Safeguarding Course.

• 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.

22 Rackets Cubed Annual Report 2024

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 our inherent risks and consider them resolved or mitigated as far as possible to assure the charity’s future. The trustees have adopted a risk management strategy that comprises:

• a risk register to review the risks we may face

• a 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 materialise

The risk register and KRIs are updated every year and regularly reviewed by the FRC and the Board of Trustees. The following table outlines our principal risks and our plans to mitigate them.

Risk	How we manage the risk
Funding	Regular monitoring of progress against targets, and of pipeline income Increased fundraising capacity to explore new avenues of fundraising income
Failure to deliver strategic aims, especially growth	Regular monitoring and review of strategic objectives by Senior Leadership Team and trustees Review and due diligence on new prospective programmes to ensure they meet our charitable objectives Recruitment and training of high-quality staf to deliver our objectives
Health and safety/safeguarding issues	Produce health and safety risk assessments for each core programme before it starts. We have a risk assessment in place for the Roehampton hub Separate Safeguarding & Child Protection policies and procedures in place for core programmes and the community projects. Processes in place for risk assessment and management Insurance held and reviewed annually
Failure to deliver programmes to a high degree of quality	Regular internal monitoring and reporting of the quality of programmes Training and development provided to all members of staf who are involved in programme delivery and management
Data protection and critical IT incidents	Trained Data Protection Ofcer coordinates the GDPR monitoring and review process Training for all staf members on key policies and practices 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

Rackets Cubed Annual Report 2024 23

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 2024.

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:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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: 6th December 2024

24 Rackets Cubed Annual Report 2024

Financial statements

for the year ended 31 March 2024

		Unrestricted	Restricted	2024	2023
		funds	funds	Total funds	Total funds
	Notes	£	£	£	£
Income and endowments from
Donations and legacies	2	74,623	354,760	429,383	252,988
Other trading activities	3	121,013	–	121,013	169,180
Total		195,636	354,760	550,396	422,168
Expenditure on
Event Hosting Costs	4	1,700	–	1,700	709
Charitable activities	5
Sports coaching		–	48,045	48,045	39,369
Teachers		–	65,420	65,420	33,546
Sundries		2,305	–	2,305	1,545
Food and nutrition		60,706	50,822	111,528	126,808
Sportswear and medals		–	2,101	2,101	6,003
Marketing and advertising		11,277	–	11,277	1,044
Impact and evaluation		2,708	–	2,708	–
Accountancy and legal fees		6,744	–	6,744	6,572
Programme delivery and organisation		73,725	110,588	184,313	114,904
Central administration and organisation		19,461	19,461	38,922	35,494
Insurance		1,350	–	1,350	577
Repairs and renewals		136	–	136	904
Bank fees		477	–	477	314
Community week costs		9,043	–	9,043	13,181
Depreciation		375	–	375	142
Venue hire		–	12,802	12,802	14,851
Other		23,098	15,339	38,437	24,692
Total		213,105	324,578	537,683	420,655
Net income/(expenditure)		(17,469)	30,182	12,713	1,513
Transfers between funds	13	30,182	(30,182)	–	–
Net movement in funds		12,713	–	12,713	1,513
Reconciliation of funds
Total funds brought forward		128,870	–	128,870	127,357
Total funds carried forward		141,583	–	141,583	128,870

The notes form part of the financial statements

Rackets Cubed Annual Report 2024 25

Financial statements

for the year ended 31 March 2024 Statement of financial position

		Unrestricted	Restricted	2024	2023
		funds	funds	Total funds	Total funds
	Notes	£	£	£	£
Fixed assets
Tangible assets	10	984	–	984	424
Current assets
Debtors	11	42,493	–	42,493	5,771
Cash at bank		155,230	_	155,230	141,931
Creditors		197,723	_	197,723	147,702
Amounts falling due within one year	12	(57,124)	–	(57,124)	(19,256)
Net current assets		140,599	_	140,599	128,446
Total assets less current Liabilities		141,583	_	141,583	128,870
Net assets		141,583	_	141,583	128,870
Funds	13
Unrestricted funds				141,583	128,870
Total funds				141,583	128,870

The financial statements were approved by the Board of Trustees and authorised for issue on 6th December 2024 and were signed on its behalf by:

Michael Hill , Chair of Trustees

The notes form part of the financial statements

26 Rackets Cubed Annual Report 2024

for the year ended 31 March 2024 Statement of cash flows

		2024	2023
	Notes	£	£
Cash fows from operating activities
Cash generated from operations	1	14,234	27,435
Net cash provided by operating activities		14,234	27,435
Cash fows from investing activities
Purchase of tangible fxed assets		(934)	(566)
Net cash used in investing activities		(934)	(566)
Change in cash and cash equivalents in the reporting period		13,300	26,869
Cash and cash equivalents at the beginning of the reporting period		141,931	115,062
Cash and cash equivalents at the end of the reporting period		155,230	141,931

Notes to the statement of cash fows for	Notes to the statement of cash fows for	Notes to the statement of cash fows for	the year ended 31 March 2024	the year ended 31 March 2024
1. Reconciliation of net income to net cash fow from operating activities
			2024	2023
			£	£
Net income for the reporting period (as per the Statement of Financial Activities)			12,713	1,513
Adjustments for:
Depreciation charges			375	142
(Increase)/decrease in debtors			(36,722)	12,550
Increase in creditors			37,868	13,230
Net cash provided by operations			14,234	27,435
2. Analysis of changes in net funds	At	1.4.23	Cash fow	At 31.3.24
		£	£	£
Net cash
Cash at bank	141,931		13,299	155,230
	141,931		13,299	155,230
Total	141,931		13,299	155,230

The notes form part of the financial statements

Rackets Cubed Annual Report 2024 27

Notes to the financial statements

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 objectives 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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. Donations and legacies

2. Donations and legacies
	2024	2023
	£	£
Direct donations	38,024	26,186
Corporate donations	36,600	7,802
Grants	354,758	219,000
	429,382	252,988
Grants received, included in the above, are as follows:
	2024	2023
	£	£
Funding grants and awards	354,758	219,000

28 Rackets Cubed Annual Report 2024

3. Other trading activities

3. Other trading activities
	2024	2023
	£	£
Roehampton Community Partnership Hub contributions	27,824	19,442
Community Box contributions	68,200	134,600
School Programme contributions	24,989	15,138
Total funds	121,013	169,180

4. Event hosting costs

Other trading activities

Other trading activities
	2024	2023
	£	£
Bad debts	1,700	–
Events hosting costs	–	709
	1,700	709

5. Charitable activities costs

5. Charitable activities costs
		Support costs
	Direct costs	(see note 6)	Totals
	£	£	£
Sports coaching	46,043	–	46,043
Squash coaching	2,002	–	2,002
Teachers	65,420	–	65,420
Sundries	–	2,305	2,305
Food and nutrition	105,345	–	105,345
Sportswear and medals	2,101	–	2,101
Marketing and advertising	–	11,277	11,277
Impact and evaluation	–	2,708	2,708
Accountancy costs	–	4,514	4,514
Programme delivery and organisation	184,313	–	184,313
Central Administration and organisation	–	38,922	38,922
Insurance	–	1,350	1,350
Repairs and renewals	–	136	136
Bank fees	–	477	477
Health and wellbeing	6,183	–	6,183
Community week costs	9,043	–	9,043
Legal fees	–	2,230	2,230
Depreciation	–	375	375
Venue hire	12,802	–	12,802
Other	38,437	–	38,437
	471,689	64,294	535,983

Rackets Cubed Annual Report 2024 29

Financial statements

Notes to the financial statements

6. Support costs
			Information	Governance
	Management	Finance	technology	costs	Totals
	£	£	£	£	£
Sundries	–	–	2,305	–	2,305
Marketing and advertising	11,277	–	–	–	11,277
Impact and evaluation	2,708	–	–	–	2,708
Accountancy costs	–	–	–	4,514	4,514
Central administration and organisation	38,922	–	–	–	38,922
Insurance	–	–	1,350	–	1,350
Repairs and renewals	–	–	136	–	136
Bank fees	–	477	–	–	477
Legal Fees	–	–	–	2,230	2,230
Depreciation	–	–	375	–	375
	52,907	477	4,166	6,744	64,294

7. Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

8.	Staf costs
		2024	2023
		£	£
Social	security costs	13,278	5,816
Other	pension costs	3,822	1,898
		17,100	7,714
The average monthly number of employees during the year was as follows:
		2024	2023
		£	£
		9	9

No employees received emoluments in excess of £60,000.

30 Rackets Cubed Annual Report 2024

9. Comparatives for the statement of financial activities

	Unrestricted funds	Restricted funds	Total funds
	£	£	£
Income and endowments from
Donations and legacies	33,988	219,000	252,988
Other trading activities	169,180	–	169,180
Total	203,168	219,000	422,168
Expenditure on
Event hosting costs	709	–	709
Charitable activities
Sports Coaching	–	39,369	39,369
Teachers Sundries Food and Nutrition	– 1,294 80,453	33,546 251 38,486	33,546 1,545 118,939
Sportswear and Medals Marketing and Advertising Accountancy costs Programme delivery and Organisation Central Administration & Organisation	– 1,044 1,504 57,452 28,395	6,003 – – 57,452 7,099	6,003 1,044 1,504 114,904 35,494
Insurance	577	–	577
Repairs and renewals	904	–	904
Bank fees	314	–	314
Health and Wellbeing	7,869	–	7,869
Community week costs	13,181	–	13,181
Legal Fees	5,068	–	5,068
Depreciation	142	–	142
Venue hire	–	14,851	14,851
Other	18,406	6,286	24,692
Total	217,312	203,343	420,655
Net income/(expenditure)	(14,145)	15,658	1,513
Transfers between funds	30,657	(30,657)	–
Net movement in funds	16,513	(15,000)	1,513
Reconciliation of funds
Total funds brought forward	112,357	15,000	127,357
Total funds carried forward	128,870	–	128,870

Rackets Cubed Annual Report 2024 31

Financial statements

Notes to the financial statements

10. Tangible fixed assets

10. Tangible fxed assets
	Fixtures and fttings	Computer equipment	Totals
	£	£	£
Cost
At 1 April 2023	–	566	566
Additions	934	–	934
At 31 March 2024	934	566	1,500
Depreciation
At 1 April 2023	–	142	142
Charge for year	233	141	374
At 31 March 2024	233	283	516
Net book value
At 31 March 2024	701	283	984
At 31 March 2023	–	424	424

11. Debtors: amounts falling due within one year

11. Debtors: amounts falling due within one year
	2024	2023
	£	£
Trade debtors	1,198	4,500
Prepayments and accrued income	41,295	1,271
	42,493	5,771

12. Creditors: amounts falling due within one year

12. Creditors: amounts falling due within one year
	2024	2023
	£	£
Trade creditors	53,066	15,822
Taxation and social security	1,258	914
Other creditors	2,800	2,520
	57,124	19,256

32 Rackets Cubed Annual Report 2024

13. Movement in funds

13. Movement in funds
	At	Net movement	Transfer	At
	1.4.23	in funds	between funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	128,870	(17,469)	30,182	141,583
Restricted funds
Restricted fund	–	30,182	(30,182)	–
Total funds	128,870	12,713	–	141,583
Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
Unrestricted funds
General fund		195,636	(213,105)	(17,469)
Restricted funds
Restricted fund		354,760	(324,578)	30,182
Total funds		550,396	(537,683)	12,713

Comparatives for movement in funds

Comparatives for movement in funds
	At	Net movement	Transfer	At
	1.4.22	in funds	between funds	31.3.23
	£	£	£	£
Unrestricted funds
General fund	112,357	(14,145)	30,658	128,870
Restricted funds
Restricted fund	15,000	15,568	(30,658)	–
Total funds	127,357	1,513	–	128,870

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	203,168	(217,313)	(14,145)
Restricted funds
Restricted fund	219,001	(203,343)	15,658
Total funds	422,169	(420,656)	1,513

Rackets Cubed Annual Report 2024 33

Financial statements

Notes to the financial statements

13. Movement in funds – continued

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

	At	Net movement	Transfer	At
	1.4.22	in funds	between funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	112,357	(31,614)	60,840	141,583
Restricted funds
Restricted fund	15,000	45,840	(60,840)	–
Total funds	127,357	14,226	–	141,583

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	398,804	(430,418)	(31,614)
Restricted funds
Restricted fund	573,761	(527,921)	45,840
Total funds	972,565	(958,339)	14,226

14. Related party disclosures

There were no related party transactions for the year ended 31 March 2024.

34 Rackets Cubed Annual Report 2024

Detailed statement of for the year ended 31 March 2024 financial activities

	2024	2023
	£	£
Income and endowments Donations and legacies Direct donations Corporate donations	38,024 36,600	26,186 7,802
Grants	354,758	219,000
Other trading activities Roehampton Community Partnership Hub Contributions Community Box Contributions	429,382 27,824 68,200	252,988 19,442 134,600
School programme Contributions	24,989	15,138
	121,013	169,180
Total incoming resources	550,395	422,168
Expenditure
Other trading activities
Bad Debts	1,700	–
Events hosting costs	–	709
Charitable activities Venue Hire Sports Coaching Teachers Community week programmes Programme delivery and organisation Food and nutrition	1,700 12,802 48,045 65,420 9,043 184,313 111,528	709 14,851 39,369 33,546 13,181 114,904 126,808
Sportswear and medals	2,101	6,003
Other Social security Pensions Sundries Travelling Entertainment	433,252 13,278 3,822 12,570 6,789 281	348,662 5,816 1,898 10,539 5,123 1,061
Subscriptions	1,697	506
	38,437	24,943

This page does not form part of the statutory financial statements.

Rackets Cubed Annual Report 2024 35

Financial statements

Detailed statement of financial activities

2024	2023
£	£
Support costs Management Impact and evaluation 2,708 Central administration and organisation 38,922 Marketing and advertising 11,277	– 35,494 1,044
52,907 Finance Bank charges 477 Information technology Insurance 1,350 Repairs and renewals 136 Telephone 488 Postage and stationery 1,817 Depreciation 375	36,538 314 577 904 336 958 142
4,166 Governance costs Accountancy and legal fees 6,744	2,917 6,572
Total resources expended 537,683	420,655
Net income 12,713	1,513

This page does not form part of the statutory financial statements.

36 Rackets Cubed Annual Report 2024

Reference and administrative details

Registered Charity number	1170744
Principal address	17 Castello Avenue
	London SW15 6EA
Trustees	M Hill Chair of Trustees
	C O’Driscoll
	Mrs S White – retired March 2024
	R Ford
	M Holland
	Mrs A Jacobs – retired March 2024
	B L Walker
	K Bartram
	E Lewis
	A Keothavong
	S Forster
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 28th November 2022 and signed on its behalf by:

Michael Hill Chair of Trustees

Rackets Cubed Annual Report 2024 37

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