Charity number. 1176317
STEEL WARRIORS
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

STEEL WARRIORS
CONTENTS
Page
Rofor•n¢g and administrative detalls of the charlty, Its trustsos and advlsers
Trustees, report
Independent examinerfs report
statement of finan¢i41 aclivitigs
Balance sheet
Notes to the financial statements
9-17

STEEL WARRIORS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Truste¢$
Benedict Winlour
Harry Edwards
Dr Chudozie Okongwu Iresigned 1 April 20241
Simon Gamer (appointed 24 April 2023)
Simone Ming lappoinled 24 April 2023}
Shakade Khan lappoinled 12 April 20231
Kelly Harrison (appointed 1 May 20231
Charlty reglstered number
1175317
Prlnclpal offlce
31 Fullerton Road, London, SW18 1BU
Accountants
Clifford Fry & Co LLP, Sl Matys House, Netherhampton, Salisbury. SP2 8PU
Page 1

STEEL WARRIORS
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual ￿pOrt together with the finanaal statements of the charity for the 1 January
2023 to 31 December 2023.
Objectives and Actlvltles
a. Policles and obJectlve6
We melt down knives taken off the streets and recycle the steel into outdoor community gyms. We provide
young people with a free space that not only gels them talking about knife crime. but also enables them lo build
the physical and mentsl Confiden￿ to walk away from gangs and serious youth violence. Using street workout,
also known as callisthenics, as a platform, we leach young people how to achieve seemingly impossible goals.
We help them to unlock their talents and challenge 'the impossible,, $0 they can realise their aspirations and live
the life they want. Our three pillars are..
Physical activity, health and wellbeing
Personal development
Community engagement
Since our inception, Steel Wairiors has successfully funded and built three gyms in inner London. located in
Haringey, Lambeth and Tower Hamlets. These boroughs have been impacted by high levels of knife crime.
Working closely with councils, residents. education, health and youth services, each gym acts as a community
hub, a safe space where people can train, hang out and build new relationships We also employ local coaches
to run free, weekly training sessions, including during the summer holidays, for all ages and levels of fitness.
Our vision is to build a UK-wide network of outdoor community gyms
a street workout movement - that
empowers young people to succeed in life and fosters stronger, safer and better-connected neighbourhoods.
Our purposes are..
To help young people aged 13-24 years old by..
Providing, or assisting in the provision of facilities for, recreation or other leisure time actNilies provided in
the interests of social welfare and designed lo improve quality of life.,
b. Providing support, activities and intervenb'on5 which develop their skills. capacities and capabilities lo
enable them to participate in society as Matu￿ and responsible individuals.
To promote the prevention of crime and youth violence. in particular. bul not exclusively, by providing
infomiab'on and advice lo young people on how to reach their personal goals both at our gyms and in
day-to4ay life, so they can succeed in mainstream society.
To provide, or assist in the provision of, facilitie5 in the interests of social welfare for ￿CreatIon of
individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial
hardship or social circumstances wlh the obje¢l of improving their living conditions.
Our strategy is lo continue lo support and invest in disadvantaged young people by-.
Building further outdcrt)r community gyms in inner<ty areas impacted by knife Grime,.
Rolling out the new Street Workout and Mentality Programmes online through our Steel Warriors App.,
Rolling out our Intervention Programme across our gyms..
Continuing to develop h)cal partnerships and ne￿rkS to ensure our work is embedded in the
communty",
Page 2

STEEL WARRIORS
TRUSTEES. REPORT Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2023
Implementing robust monitoring, measuring and leaming systems that focus on the impact of our woik,.
Growing income and achieving a sustsinable business model.
In shaping ouf objectives for the year and planning our aclivilies, the Trustees have considered the
Charity Commission's guidance on publi¢ benefit, including the guidance 'public benefit.. running a charity (P821'.
Achi8voments and perforniance
. Reviow of activiligs
During 2023 we commenced new relationships with corporate partners and used these generous donations to
fund free-to-all calislhenics training sessions at our three gyms.
Flnancial review
a. Going concom
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate
resources lo continue in operational existen￿ for the foreseeable future. For this reason they conts'nue lo adopt
the going concem basis In preparing the financial slatemenls. Further details regarding the adoption of the going
concern basis ¢an be found in the Accounting Policies.
Structurei governancg and management
a. Constrtution
The charty was incorporated on 24 October 2017 and commenced trading on Ihal date.
There have been no changes in the objectives Sin￿ the last annual report.
b. Method of appointment or glection of Trustees
The management of the charity is the responsibility of the Trustees who are elected and Go-opled under the
lemis of the Trust deed.
c. Organisatlonal structure and decision making
The Board of Trustees
Benedict Wintour, Steel Warriors Co-founder- supports with marketing and stakeholders.
Harry Edwards, Partner. Herbert Smith Freehills- supports with legal matters.
Chudozie Okongwu, Managing Director, NERA- supports with financial matters.
Simon Garner- supports with fundraising experience
Simone Ming - sUPPOrts with training experience
Shakade Khan - supports with community experien¢e
Kelty Harrison - supports with construction experience
Our trustees have a varied experience in Legal, Finance, HR and PR and Marketing. There are no fomial
procedures for the induction or training of trustees.
Page 3

STEEL WARRIORS
TRUSTEES. REPORT (continued}
FOR THE YEAR ENDED 31 DECEMBER 2023
The board of trustees perforrns the administration. including financial management of Ihe charity and works with
volunteers to support the manufacture and construction of the gyms. External professional servi¢e providers are
engaged where necessary, including in the production of the financial stalemenls.
The trustees periodically review the skills and experience of the board. Where gaps are identified, addilKsnal
trustees are recruited. Trustees discuss and approve the pay and remuneration of the full-time stsff each year.
This report was approved by the Trustees, on 28110r2024 and signed on their beham by..
Ben Wintour
Page 4

STEEL WARRIORS
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examiner's report to the Trustg9s of Stoel Warrlors lthe '¢harity'l
I report to the charity Trustees on my examinab'on of the accounts of the charity for the year ended 31 December
2023.
This report is made solely to the charity's Trustees, as a body. in accordance wth Part 4 of the Charities
IA¢counts and Reports) Regulations 2008 My work has been undertaken so that I might stste lo the charity's
Trustees those matters l am required to slate lo them in an Independent examiner's report and for no other
purpose To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the
charity and the charitys Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance wlth the
requirements of the Charits'es Act 20111'the 2011 Acfl.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 14515llb} of the 2011 kl.
Independent examiner's statement
Your attention is drawn lo the fact that the charity has prepared the accounts in accordance with Accounting and
Reporb'ng by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in
preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April
2005 which is referred to in the extant regulations bul has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally A￿pIed Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Ac(. or
the accounts do not arLord wth those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'tnJe and fair, view which is not a matter considered as part of an independent
examinabon.
Page S

STEEL WARRIORS
INDEPENDENT EXAMINER'S REPORT {continuedl
FOR THE YEAR ENDED 31 DECEMBER 2023
I have no concerns and have come across no other matters in connection with the examination to which
attentson should be drawn in this report in order lo enabte a proper understanding of the accounts lo be reached.
Signed..
Dated.. Ja￿,
Erica Parker
FCCA
Cllfford Fry & Co LLP
Sl Ma￿S House
Netherhamplon
Salisbury
SP2 8PU
Page 6

STEEL WARRIORS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Noto
Income from:
Donations and legacies
Other Irading activities
102,443
10,000
102.443
30,000
139,745
20,000
Total income
112,443
20.000
132,443
139,745
Exponditure on:
Raising funds
Charitable acliwlies..
Operational support
Charitable acb'vities
Other charitable activities
3,651
3,651
61,425
28,696
16,763
61,425
48,696
16,763
100,000
38,192
12,771
20,000
Total expendlture
110.535
20,000
130,535
150,963
N9t income I lexpendlturel before other
rg¢ognised galns and losses
Not movement In fund8
1,908
1,908
1,908
1,908
111,2181
111,2181
Reconcilialion of funds".
Total funds brought forward
34,553
34,SS3
45,771
Total funds carried for4vard
36A61
36,461
34,553
The notes on pages 9 to 17 fom part of these financial statements.
Page 7

STEEL WARRIORS
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Noto
Fixed a5SOts
Tangible assets
Current assgts
Cash at bank and in hand
10
619
38.261
37,057
Credltors: amounts falling due within one
year
11
{1,8001
{3,123}
Net curront assets
36,461
33,934
Net assets
36.461
34,553
Charity Funds
Unreslricled funds
12
36,461
34,553
Total funds
36,461
34,553
The financial statements were approved by the Trustees on
2811012024
and s￿ned on their behaK, by..
Ben Wlntour
The notes on pages 9 10 17 form part of these financial ststemenls.
Page 8

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
1.1 Basis of preparation of flnancial $tstgmgnts
The financial slalemenls have been prepared lo give a 'lrue and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fairf view. This departure has involved following the Charities SORP IFRS 1021 published on 16
July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has since been wrf(hdrawn.
The financial statements have been prepared under the hislorul cost convention wth items
recognised at cost or transaction value unless otheThYise slated in the relevant notes to these
accounts. The financial statements have been prepa￿ in accordance with the Statement of
Recommended Practice.. knounting and Reporting by Charities preparing their accounts in
cordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS
1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland IFRS 1021 and Charities Act 2011.
Steel Warriors constitutes a publi¢ benefit entity as defined by FRS 102.
1.2 Income
All income is recognised once the tharity has enlitlemenl lo the income, it is probable that the
income wll be received and the amount of Income receivable can be measured reliably.
Donated services or facilibes are recognised when the charity has control over the item, any
¢ondilions associated with the donated item have been mel, the receipt of economic benefit from the
Use of the charity of the item is probable and that economic benefit can be measured reliably. In
accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not
recognised and refer lo the Trustees, report for more information about their contribut￿1￿.
On receipt, donated professional services and donated facilities are recognised on the basis of the
value of tre gift to the charity which is the amount the charity would have been willing to pay lo
obtain services or facilities of equivalent economic benefit on the open market- a corresponding
amount is then recognised in expenditure in the period of receipt.
Page 9

STEEL WARR(ORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinugdl
1.3 Expenditure
Expenditure 15 recognised once there is a legal or conslruclive obligation to transfer economic
benefit to a third party, il 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 classified by
activity. The costs of each activity are made up of the lolal of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct Costs attributable lo a single
activity are allocated directly lo that acltvity. Shared costs which conlribule lo more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of bme spent, and depreciation charge5 allocated on the portion of the asset's use.
Support Costs are those costs incurred direcdy in support of expenditure on the objects of the charty
and include project management carried out at Headquarters. Govemance costs are those incurred
in connection wth administration of the charity and compliance with constitutional and stalulory
requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's operations, including
support costs and costs relating to the governance of the charity appO￿.oned lo charitable activities.
1.4 Tanglble fixed assets and depr￿lat10Th
Tangible ftxed assets are carried at cost, net of depreciab'on and any provision for impairment.
Depreciation is provided at rates calculated to write off the cost of fixed assets. less their ests"maled
residual value, over their expected useful lives on the following bases..
Office equipment
250A Straight line
1.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity,. thi$ is normally upon notIf￿atr.0n of the interest paid or payable by the Bank.
1.6 Cash at Bank and In hand
Cash at bank and in hand includes cash and short lerrn highty liquid investments with a short
maturity of three months or less from the dale of acquisition or opening of the deposit or similar
account.
Page 10

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting pollcles {continuedl
1.7 Llabllltle6 and provlslons
Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the
charity anticipates it will pay to settle the debt or the amount it has received as advanced payments
for the goods or services it must provide. Provisions are measured al the best estimate of the
amounts required to setue the obligab"on. Where the effect of the time value of money is material,
the provision is based on the present value of those amounts, discounted al Ihe p￿-taX discount
rale that reflects the risks specific to the liability. The unwinding of the discount is recognised within
interest payable and similar tharges.
1.8 Financial instrumonts
The ¢harity only has finanGial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls.
Basic financial instruments are initially recognised al transaction value and
subsequently measured al their settlement value with the exception of bank loans which are
subsequently rneasured at arnortised cost using the effective interest method.
1.9 Fund accounting
General funds are unrestrreled funds wh￿h are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund The aim and use of each restricted
fund is set out in the notes lo the financial stalemenl$.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations
Grants
74,443
28,000
74.443
28.000
139,745
Total donatsons and legacies
102,443
102,443
139,745
Total 2022
139.745
139,745
Page 11

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Fundrals5ng Income
Unrestricted
funds
2023
Restrictgd
fvnds
2023
Total
funds
2023
Total
fund5
2022
Corwrate partners
10.000
20,000
30.0(M)
10,000
20.000
30,000
Direct costs
Total
2023
Total
2022
Actlvltle8
Gym programme
Rent and steel related costs
41,881
6,815
41,881
6,815
40,073
3,938
48.696
48,696
44,011
Total 2022
44,011
44.011
Support ¢osts
Total
2023
Total
2022
Activities
Administration
Computer and IT costs
Travel
Operational supp)rt
Depreciation
7.988
2.240
1.899
61.425
619
7,988
2,240
1,899
61,425
619
3,076
757
100,000
619
74.171
74,171
104,452
Total 2022
104,452
104,452
Page12

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Governance costs
Unrestricted
funds
2023
Restrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Independent examinabon
4,017
4,017
2,500
Anatysls of Expendlture by exponditurg type
Depre¢lation Other costs
2023
2023
Total
2023
Total
2022
Expenditure on raising voluntary incorne
3,651
3,651
Costs of ralslng funds
3,651
3.651
Direct costs
Expenditure on govemance
619
122.248
4.017
122,867
4,017
148,463
2,500
619
129,916
130.535
150,963
Total 2022
619
150,344
150,963
Net Incomellexpenditure)
This is staled after charging..
2023
2022
Depreciation of tangib￿ fixed assets:
- owned by the charity
619
619
During the year, no Trustees received any remuneration12022 - £NILI.
During the year, no Trustees received any benefits in kind12022 - £NILI-
During the year, no Tiustees received any reimbursement of expenses12022 - £NILI.
Audftorn. remun¢ratlon
2023
2022
Independent Examinerfs remuneration
1.800
1,800
Page 13

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Tangible fixod assets
Office
equipment
Cost
Al 1 January 2023 and 31 DeGember2023
2,476
Depreciation
At 1 January 2023
Charge for the year
1,857
619
At 31 December 2023
2,476
Net book value
At 31 December2023
At 31 December 2022
619
11. Croditors: Amounts falllng due wlthin one ygar
2023
2022
Accruals and deferred income
1,800
3,123
12. Statement of funds
Statsment of funds - current year
Balance at
31
D¢cembgr
2023
Balance at
1 January
2023
Income Expendlture
Unr¢stri¢tgd funds
General Funds - all funds
34.553
112,443
1110,5351
36,461
Restrlcted funds
Restricted Funds - all funds
20,000
120.000}
Total of funds
34,SS3
132A43
1130,5351
36.461
Page 14

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Ststgrnent of funds Icontinuedl
Statement of funds- prior year
Balance at
31
December
2022
Balance al
1 January
2022
Income Expenditure
General Funds - all funds
45,771
139,745
1150,9631
34,553
Rgstricted funds
Total of funds
45.771
139,745
I150.￿3)
34,553
Summary of funds - currenl year
Balance at
31
December
2023
Balance at
1 January
2023
In¢om¢ Expenditure
General funds
34,553
112.443
1110,535}
36,461
Summary of funds - prlor year
Balance at
31
December
2022
Balance al
1 January
2022
Income Expenditure
General funds
45,771
139,745
1150,9631
34,553
Page15

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Analy858 of net assets between funds
Analysis of not assets between funds - curront year
Unrestricted Restricted
fund8
funds
2023
2023
Total
funds
2023
Current assets
Creditors due within one year
38,261
(1,800
38,261
11,800)
36,461
36,461
Analysls of net assets between funds - prior year
Unreslricled
funds
2022
Restricted
funds
2022
Total
fund$
2022
Tangible fixed assets
Current assets
Creditors due within one year
619
37,057
13,1231
619
37,057
13,1231
34,553
34,553
14.
Reconclllatlon of net movement in funds lo net cash Ilow from operating actlvltles
2023
2022
Net incomellexpendilurel for the year las per Statement of Financial
Activiliesl
1,908
111.2181
Adjustment for".
Depreciation charges
(Decreasellincrease in Creditors
619
11,3231
619
1,800
Net cash provlded byllusod inl operating actlvltles
1,204
(8.7991
15. Analysis of cash and cash equivalonts
2023
2022
Cash in hand
38.261
37,057
Total
38,261
37,057
Page 16

STEEL WARRIORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Relatod party transactlons
The charity receives legal advice on a pro-bono basis from Herbert Smith Freehills LLP, of which one of
the Iruslees is a partner. The advice ha5 been valued al £61,42512022." £12,771} in these accounls.There
were no other related paty transactions.
The charity also paid fees to the following trustees for calisthenic gym sessions. Simone Ming.. £5,577 and
Shakade Khan.. £5.990.
Page 17