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← Commonwealth Sport Foundation

2025-03-31-accounts

Commonwealth Sport Foundation

Trustees' Report and Financial Statements

Year ended 31[st] March 2025

Charity Number 1173238 Company Number 10363544

Commonwealth Sport Foundation

Report and financial statements for the year ended 31[st] March 2025

Contents

Page:

Commonwealth Sport Foundation

Legal and administrative information

Trustees

Kylie Bates Robert Bayigamba (resigned 23 July 2024) Gurpreet Bhatia DL Claire R Dias (appointed 16 October 2024) Hugh Graham (resigned 15 October 2024) Dr Christopher J Jenkins (resigned 21 May 2025) Adrian Lismore Dr Jeya Wilson

Registered Charity Number

1173238 (England and Wales)

Company Number

10363544

Principal Address

8 Storeys Gate London England SW1P 3AY

Auditor

HaysMac LLP 10 Queen Street Place London EC4R 1AG

Solicitors

Bates Wells 10 Queen Street Place London EC4R 1AG

Bankers

HSBC City of London Corporate Centre Level 6 71 Queen Victoria Street London EC4V 4AY

1

Commonwealth Sport Foundation

Report of the Trustees

for the year ended 31 March 2025

The Trustees present their report along with the financial statements of the Commonwealth Sport Foundation (“CSF”) for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and the 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).

Structure, governance and management

The primary purpose of the CSF is to mobilise resources and raise funds to further Commonwealth Sport beyond the Games, supporting Sport for Development initiatives across the Commonwealth in line with the Commonwealth Sport Movement’s values.

The Trustees who have served during the year and since the year-end are set out on Page 1. Dr Jeya Wilson was appointed Chair on 8 January 2024. Trustees are recruited through an open application process (advertised on the Commonwealth Sport website) and all appointments are formally approved by the Commonwealth Games Federation (CGF) as sole member of CSF.

The Chair of the Board of Trustees is responsible for the induction of any new Trustee which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history, and philosophical approach of the charity. New Trustees receive copies of the previous years' Annual report and accounts and a copy of the Charity Commission leaflet 'The Essential Trustee: What You Need to Know'. Trustees’ responsibilities include the requirement to provide all appropriate information to the external auditors, HaysMac LLP on request.

The CSF has carefully reviewed its activities and updated its strategy and business plan in readiness for the next Commonwealth Games in 2026, with a clearer message to donors. The Trustees agreed to prioritise three areas for fundraising and investment and agreed specific programmes or projects to primarily focus on within each area. The three priority areas are Youth, Community and Inclusion.

In order to successfully mobilise resources and secure funds aligned to these thematic areas, Trustees agreed key business plan pillars – 1) Social Impact Investment and Fundraising, 2) Engagement and Communication, 3) Governance and Management. The overriding priority is to successfully mobilise resources and raise funds through Games-related fundraising, with the Commonwealth Sport Foundation contractually agreed as the Glasgow 2026 Official Charity Partner. A Fundraising Manager is currently in recruitment, funded by CSF reserves.

The Trustees meet quarterly, and - with the exception of an in-person two-day strategy workshop in November 2024 - meet virtually due to Trustees being resident in multiple countries. An Audit and Risk Committee meets during the year with oversight of audit, risk and financial management. Ad hoc matters that arise between scheduled Board meetings are reviewed as required via email or virtual meetings throughout the year, and any immediate issues or points for discussion are dealt with as necessary.

The Trustees are aware of their responsibilities for ensuring the charity operates for the public benefit and are cognisant of the Charity Commission guidance in this area. The sections of this report relating to the CSF’s charitable activities set out how we further achieve our charitable purpose for public benefit and to support our mission and aims to promote sport for development initiatives in the Commonwealth. Advice is sought from our legal advisor Bates Wells when necessary to ensure that the charity purpose is being achieved.

2

Report of the Trustees for the year ended 31 March 2025

Commonwealth Sport Foundation

Risk management

The Trustees oversee all risk for CSF, with the Audit and Risk Committee taking on management of our risk framework. Third Party indemnity insurance is in place for the Trustees. Trustees consider the principal risks to be; the lack of successful coordination with future Commonwealth Games hosts; use of grants awarded to third party organisations and the associated reputational risk that could arise from the use of funds by third parties for unapproved activities outside of the charity’s objectives; lack of diversified income from multiple sources.

During the year the auditors Haysmacintyre LLP changed its name to HaysMac LLP. The Trustees have continued the appointment of HaysMac LLP as external auditor.

The Trustees note that all programmes supported by the CSF undergo a thorough review of funding applications presented, to ensure the proposed activities meet the charity’s objectives. Grant agreements are in place to oversee all conditions associated with any approved grant and ensure appropriate due diligence. The Trustees report that there are appropriate measures in place to monitor and review programme oversight.

Objectives and activities

The objectives of the CSF are for the public benefit:

The Trustees report that in the year CSF has supported a Safeguarding Project and the GAPS Para Sport programme, which supports diverse and developing athletes with disabilities to succeed in sport. This year’s activities supported by CSF included:

  1. GAPS Americas & Caribbean Camp: In partnership with the University of West Indies, the first-ever Para sport camp for the region was held from 16-22 April 2024 in Jamaica.

  2. GAPS Athlete Voice: The GAPS programme wants to encourage athletes to discover their own voice in society to bring about social change. Sport can be a powerful vehicle for self-discovery. The Athlete’s Voice is a programme to help athletes reflect on their journey in sport. The pilot was launched at the GAPS Global Birmingham Camp 2024.

  3. GAPS Global Birmingham Camp 2024: Hosted in partnership with Birmingham University, it took place 9- 17 June 2024 in Birmingham, UK, for athletes and coaches from across the Commonwealth to focus on Para powerlifting and Para table tennis.

  4. GAPS Global Camp in Mauritius: A Para athletics camp to support the development of athletes and coaches from across the Commonwealth held 4-13 November 2024.

  5. Americas Safeguarding Project: This project aims to advance awareness and ensure that athletes, communities, and vulnerable adults can participate in a safe, fair, and enjoyable environment. International safeguarding expert Mark Mungal was contracted to support delivery, and identify key areas of focus for the project.

2

Commonwealth Sport Foundation

Report of the Trustees

for the year ended 31 March 2025

Grants

The details of grants awarded are as follows:

2025 2024
£ £
Commonwealth Women’s Leadership Program - 70
Game Changers - 19,055
GAPS 5,039 12,578
eqUIP - 13,491

Charitable activities

During the year, the Trustees authorised payments for programmes and associated managerial costs totalling £167,187 (2024 - £382,413). These relate to the Charitable costs and Support costs in note 3 of the accounts where more detail is provided.

Funds development

The CSF was successful in applying to the Oak Foundation for a grant to support the safeguarding programme. A restricted gift to support the GAPS Programme, with a focus on supporting advocacy and mentoring for participating athletes with disabilities, was received from Australian Paralympic swimmer Matt Levy.

Financial review

During the year the balance of the funding provided was used to support the programmes discussed in the report.

The CSF had a loan facility with CGF as the CSF transitioned from Birmingham 2022 to the 2026 Commonwealth Games where CSF will be the charity partner of choice. With adequate unrestricted funds available, the loan was repaid during the year.

The total funds of the CSF at 31st March 2025 stood at £293,369 (2024 - £382,784). Of this, £209,092 are unrestricted reserves to support the charities activity moving forward.

The restricted reserves are restricted to support sport and development within the Commonwealth. The Trustees will continue to monitor the level of general reserves of the Trust to assess the level of grant making in the future.

During the year, the CSF received income of £135,473 (2024 - £558,543). A total of £167,187 (2024 - £382,413) was committed to charitable activities and related expenditure. This total excluded governance costs of £57,701 (2024 - £35,778).

The CSF has a reserves policy which states that the reserves are set at a level covering grant commitments, other obligations and 12 months of operations including salaries of staff directly employed by CSF and any staff seconded from any other organisation. This has been considered at the year end and is deemed appropriate with the reduced ongoing activity planned in the year ahead.

2

Commonwealth Sport Foundation

Report of the Trustees

for the year ended 31 March 2025

Plans for future periods

The top organisational priorities for 2025-26 are summarised below.

The Trustees will continue to fulfil the objectives of the CSF by applying all future income to fund projects that aim to support Commonwealth communities via sport for development initiatives. The Trustees will continue to monitor the success of the projects they have funded in earlier periods and review and revise plans according to requisite funding opportunities.

Trustees' responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice, including FRS 102 the Financial Reporting Standard applicable in the UK and the Republic of Ireland.

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the charity's financial position at the end of the year. In preparing those financial statements, the Trustees are required to:

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

The Trustees that served during the year were Dr Jeya Wilson – Chair, Dr Christopher J Jenkins OBE, Gurpreet Bhatia DL, Kylie Bates, Claire Carver-Dias, Adrian Lismore.

Disclosure of information to auditors

Each of the persons who are trustees at the time when this Trustees report is approved has confirmed that so far as the trustee is aware, there is no relevant audit information of which the Charity's auditors are unaware, and the trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the Charity's auditors are aware of that information.

2

Commonwealth Sport Foundation

Report of the Trustees

for the year ended 31 March 2025

Going Concern

The revenue streams of the CSF are linked to the grant agreements arrangements referenced above and the costbase is flexible in line with these arrangements. The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The CSF therefore continues to adopt the going concern basis in preparing its financial statements.

Post Balance Sheet Events

There have been no material adjusting or disclosable events since the financial year end.

Approved by the Trustees and signed on their behalf by:

Jeya Wilson

…………………………….. Dr Jeya Wilson – Chair

Trustee

Date: 04 August 2025

2

Commonwealth Sport Foundation

Independent auditor’s report to the members of the Commonwealth Sport Foundation

Opinion

We have audited the financial statements of Commonwealth Sport Foundation for the year ended 31 March 2025 which comprise the Statement of financial Activities, the Balance Sheet, the Statement of Cash flow and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

2

Independent auditor’s report to the members of the Commonwealth Sport Foundation

Commonwealth Sport Foundation

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the Strategic report and the Directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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

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

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements of the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

2

Commonwealth Sport Foundation

Independent auditor’s report to the members of the Commonwealth Sport Foundation

Auditor’s responsibilities for the audit of the financial statements (continued)

We evaluated management’s opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements such as the income recognition policy applied to grant income. Audit procedures performed by the engagement team included:

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………………Thomas Wilson (Senior Statutory Auditor) ~~…~~ ….. For and on behalf of HaysMac LLP

10 Queen Street Place London EC4R 1AG

Date: 05/08/2025

2

Commonwealth Sport Foundation

Statement of financial activities for the year ended 31 March 2025

Note
Income from:
Other income
2
Total income
Expenditure on:
Charitable expenditure
3
Total expenditure
3
Net movement in funds
Funds balances brought
forward at 1 April
Funds carried forward
31st March		 Unrestricted Funds
2025
2024
£
£
-
503,543
_
_
-
503,543
_
_
59,027
34,630
_
_
59,027
34,630
_
_
(59,027)
468,913
268,119
(200,794)
_
_
209,092
268,119

 Restricted Funds
2025
2024
£
£
135,473
55,000
_
_
135,473
55,000
_
_
165,861
383,561
_
_
165,861
383,561
_
_
(30,388)
(328,561)
114,665
443,226
_
_
84,277
114,665

 Total Funds
2025
2024
£
£
135,473
558,543
_
_
135,473
558,543
_
_
224,888
418,191
_
__
224,888
418,191
_
__
(89,415)
140,352
382,784
242,432
_
_
293,369
382,784

 Total Funds
2025
2024
£
£
135,473
558,543
_
_
135,473
558,543
_
_
224,888
418,191
_
__
224,888
418,191
_
__
(89,415)
140,352
382,784
242,432
_
_
293,369
382,784
__
418,191
__
418,191
__
140,352
242,432
__
382,784

All amounts relate to continuing activities.

The CSF had no recognised gains or losses for the financial year and as such a statement of other comprehensive income has not been prepared.

The notes on pages 13 to 17 form an integral part of these financial statements.

2

Commonwealth Sport Foundation

Charity balance sheet as at 31 March 2025

Charity Number 1173238
Company Number 10363544
Note
Current assets
Debtors
6
Cash at bank
Creditors: amounts falling due within one year
7
Net current assets
Total assets less current liabilities
Total net assets
Income funds
Funds - unrestricted
10
- restricted
10		 Charity
2025
£
-
311,327
__
311,327
(17,958)
__
293,369
__
293,369
__
293,369
_
209,092
84,277
__
293,369
_		 Charity
2024
£
396
715,722
__
716,118
(333,334)
__
382,784
__
382,784
__
382,784
_
268,119
114,665
__
382,784
_

Approved by the Trustees and authorised for issue on 04 August 2025 and signed on their behalf by:

Jeya Wilson

…………………. Dr Jeya Wilson

Trustee

The notes on pages 13 to 17 form an integral part of these financial statements.

2

Commonwealth Sport Foundation

Charity cash flow statement as at 31 March 2025

Note Charity Charity
2025 2024
£ £
Cash flow from operating activities
Net movement in funds for the year (89,415) 140,352
Decrease/(increase) in trade and other receivables 6 396 (345)
Decrease in trade and other payables 7 (315,376) (46,066)
__ __
Net cash movement from operating activities (404,395) 93,941
__ __
Net increase in cash and cash equivalents (404,395) 93,941
Cash and cash equivalents at beginning of the year 715,722 621,781
__ __
Cash and cash equivalents at the end of the year
311,327 715,722
__ __
Net Debt
At 1 April 2024 Cash outflows At 31 March 2025
£ £ £
Cash and cash equivalents
Cash at bank 715,722 (404,395) 311,327
__ __ __
715,722 (404,395) 311,327
__ __ __

The notes on pages 13 to 17 form an integral part of these financial statements.

2

Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025

1 Accounting policies

The CSF was incorporated in the UK on 7 September 2016 and was registered as a Charity in England and Wales on 1 June 2017. Details of the Company information can be found in page 1.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied throughout the year presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (“FRS 102”) and comply with the charity's trust deed, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except as disclosed in the accounting policies which indicate that certain items are shown at fair value.

The presentation currency of these financial statements is pound sterling (GBP).

All amounts in the financial statements have been rounded to the nearest pound (£).

Significant judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Income

Grant income is recognised once the trust has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Where there are terms or conditions attached to a grant, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Restricted funds

Where funds are received for specific purposes set out by the donor, these are shown as restricted income in the statement of financial activities. Expenditure for the purposes specified is applied against the income and any amounts unexpended at the balance sheet date are shown within restricted funds.

2

Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025 ( continued)

1 Accounting policies (continued)

Unrestricted funds

Unrestricted funds are donations and other incoming resources received or generated for general charitable purposes.

Going concern

The revenue streams of the CSF are linked to the grant agreements arrangements referenced above and the cost-base is flexible in line with these arrangements. The Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The CSF therefore continues to adopt the going concern basis in preparing its financial statements.

Expenditure

Expenditure is accounted for when it is incurred with sufficient reliability that the cost can be measured and will be due and payable within the accounting period.

Support costs policy

Support costs, as summarised in notes 3 and 4, are allocated in accordance with the underlying entities to which they relate.

All costs attributable to the operation and day-to-day running of the CSF, including professional fees, insurance and storage costs, are disclosed within 'Charitable expenditure' and allocated against each category on a pro rata basis, proportional to the grants, issued in each category as a percentage of total grants awarded.

Governance costs comprise those costs incurred in the governance of the CSF and its assets and are primarily associated with constitutional and statutory requirements.

2 Income

Grant Receipts – Restricted
Donations Receipts – Restricted/Unrestricted		 2025
£
128,117
7,356
__
135,473
 2024
£
55,000
503,543
__
558,543

A restricted donation of £7,356 was received from Matt Levy in the year to support the GAPS Athlete Voice programme delivery. A restricted grant was also received from the Oak Foundation to support safeguarding initiatives and projects.

2

Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025 (continued)

3 Expenditure

Particulars Direct charitable costs Direct charitable costs Direct charitable costs Direct charitable costs Direct charitable costs Direct charitable costs Support costs Support costs Governance costs Governance costs **Total ** costs
2025
2025
2025
2024
2024
2024
2025
2024
£
£
£
£
£
£
£
£		 2025
2024
2025
£
£
£		 2024
£
Charitable expenditure Grants to
institutions		 Grants to
individuals		 Activities
undertaken
directly		 Grants to
institutions		 Grants to
individuals		 Activities
undertaken
directly
Commonwealth Athlete Inclusion
Programme (GAPS)
Commonwealth Sport Youth
Leadership – CommYL (eqUIP)
Youth & Athlete Impact
Awareness and Advocacy
Outreach and Partnership
CWLP
Pride sport		 5,039
-
-
-
-
-
-		 -
-
-
-
-
-
-		 145,555
-
-
2,196
-
-
-		 12,578
13,491
-
-
19,055
70
-		 -
-
-
-
-
-
-		 213,531
815
5,004
65,103
9,886
-
-		 14,190
-
-
207
-
-
-		 28,555
1,807
632
8,222
3,655
9
-		 56,873
-
-
828
-
-
-		 23,827
1,507
527
6,860
3,050
7
-		 221,657
-
-
3,231
-
-
-		 278,491
17,620
6,163
80,185
35,646
86
-
5,039 - 147,751 45,194 - 294,339 14,397 42,880 57,701 35,778 224,888 418,191

Charitable expenditure was £224,888 (2024 - £418,191) of which £59,027 (2024 - £34,630) was unrestricted and £165,861 (2024 - £383,561) was restricted.

The Governance costs incurred relates to constitutional and statutory requirements of the CSF and a Trustees meeting that took place during the year, please refer note 5 for more detail.

The CSF had no employees during the year (2024 - none).

15

Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025 (continued)

4 Support costs

Management and administration 2025
£
14,397
__
14,397
__		 2024
£
42,880
__
42,880
__

The support costs include an allocation of restricted and unrestricted project specific costs for the administration of the projects supported by the CSF during the year and related bank and exchange fees.

5 Governance

Audit fees
Accounting fees
Legal and Professional fees
Governance meetings		 2025
£
5,880
12,960
4,697
34,164
__
57,701
__		 2024
£
7,310
18,385
10,083
-
__
35,778
__

The CSF Trustees are based around the Commonwealth, providing varied backgrounds and a breath of valued experience to benefit the Charity and be in the best position to achieve its goals and objectives. The current Board of Trustees had not previously met in person during a period when activity was scaled back to minimise costs and protect the charities reserves whilst a host for the 2026 Commonwealth Games was sought. Following the appointment of Glasgow as the 2026 Games host, the Trustees determined it was important to conduct their first-ever meeting in person during the year in order to spend focused time finalising the charities strategy in support of the wider Commonwealth Sport Movement, and in readiness to activate its contracted status as Official Charity Partner for Glasgow 2026 with an agreed primary purpose of mobilising resources and raise funds to further Commonwealth Sport beyond the Games. The meeting was aligned to existing travel commitments to the Commonwealth Heads of Government Meeting to minimise costs and support sustainability, by combining two meetings into one trip for some attendees.

6 Debtors

Prepayments & accrued income 2025
£
-
__
-
__		 2024
£
396
_
396
_

16

Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025 (continued)

7 Creditors

Amounts owed to group entity
Accruals and deferred income
Trade creditors
8
Statement of funds
Fund balances
bought
forward
£
Restricted
UK Sport
114,665
Oak Foundation
-
Matt Levy
-
Unrestricted
268,119
__
Total funds
382,784
 2025
£
61
17,897
-
__
17,958
_
Income
Expenditure
£
£
50,000
(164,665)
78,117
(1,196)
7,356
-
-
(59,027)
_
___
135,473
(224,888)

 2024
£
312,430
18,174
2,730
__
333,334
_
Fund
balances
carried
forward
£
-
76,921
7,356
209,092
_
293,369

Restricted funds:

The Trustees recognise the grants brought forward and received during the year as restricted funds to support Sport and Development within the Commonwealth.

The purpose of restricted funds included:

9 Transactions concerning Trustees

During the year, none of the Trustees (or any person connected to them) received any remuneration.

Expenses were incurred totalling £26,018 (2024 - none) relating to six Trustees travel, accommodation and subsistence for the one-off in person two day planning workshop that took place, which the Trustees deemed to be of critical strategic importance, as outlined in note 5.

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Commonwealth Sport Foundation

Notes forming part of the financial statements for year ended 31 March 2025 (continued)

10 Analysis of net assets between funds

Current assets
Creditors falling due
within one year		 Restricted Funds
2025
2024
£
£
84,277
117,395
-
(2,730)
_
_
84,277
114,665

 Unrestricted Funds
2025
2024
£
£
227,050
598,723
(17,958)
(330,604)
_
_
209,092
268,119

 Total……………….
2025
2024
£
£
311,327
716,118
(17,958)
(333,334)
_
_
293,369
382,784

11 Ultimate parent undertaking and controlling party

The ultimate parent controlling party of the CSF, as its sole member, is the Commonwealth Games Federation, a company limited by guarantee in the UK.

Copies of the consolidated financial statements can be obtained from CGF at: 8 Storeys Gate, London, England, SW1P 3AY.

12 Related party transactions

CGF is a private company limited by guarantee. As at 31 March 2025, the CSF owed £61 (2024 - £312,430) to CGF due to intercompany transactions carried out in the year.

These transactions relate to CSF expenses paid by CGF. See table below for the movement in the year relating to amounts owed to CGF:

Balance at start of the year
Contractors & programme costs
Payments made during the year
Balance at end of the year		 2025
£
312,430
24,696
(337,065)
__
61
__		 2024
£
368,231
77,095
(132,896)
__
312,430
__

There were no further related party transactions during the year or prior year that require disclosure.

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