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2023-01-31-accounts

REGISTERED COMPANY NUMBER: CE020539 (England and Wales) REGISTERED CHARITY NUMBER: 1187733

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 January 2023

for

Switch The Play Foundation

Harts Limited Westminster House 10 Westminster Road Macclesfield Cheshire SK10 1BX

Switch The Play Foundation

Operating and Financial Review for the Year Ended 31 January 2023

Despite the really positive work supporting our beneficiaries the financial performance of the charity over the last 12 months unfortunately did not match the initial expectations of trustees. As reported in our previous Annual report, decisions were taken at the end of our previous financial year to restructure the fundraising team as it was evident that a more specialised approach was needed to target different opportunities and focus fundraising efforts on specific areas of the fundraising mix. The intention is that this would be generate short term returns and ultimately plan for growth to cater for the level of demand for our services.

However, recruitment challenges meant that the charity's sole full time fundraising post was vacant for 7 months during the financial year. This had a material impact on our fundraising strategy and contributed to the charity posting a further loss for the financial year ended 31st January 2023. Those impacts have been mitigated by individual financial loans provided to the charity that have safeguarded its immediate future.

The charity generated a loss of £36,949 during the financial year bringing the cumulative deficit to £147,888. Expenditure declined by 8.6% from the previous year, whilst revenue also declined by 3.7%. These results are a direct result of the vacant fundraising post and the associated impacts around cost of living on charitable fundraising at a time when the charity had planned for increased revenue around corporate partnerships and trusts and grants income in particular.

With regards the cumulative deficit of £147,888, the vast majority (£115,000) falls due beyond 12 months. As previously reported the Business Bounce Back Loan of £50,000 was secured during Covid and has a defined repayment schedule over five years. The charity is further supported by £91,692 of Trustee loans. The Trustees are long term investors in the charity.

Update

Given the financial results it is important to provide an in-year update from the financial year 2023/24 as it highlights the positive action taken to reduce the deficit on the balance sheet and stabilise the financial position of the charity. A total of £57,600 of individual loans were converted into a donation in the new financial year. Alongside this, the new Omnia Sports Group partnership has brought an immediate investment that addresses the balance on creditors falling due within the year. The charity is currently forecasting to make a small surplus in the year ending January 2024.

Sources of Income

Despite the reported challenges on fundraising there were notable successes within the financial year. We are incredibly grateful to our donors and partners for their generous support in 2022. Without them we simply could not deliver our vital work to support athletes. Principle sources of fundraising income over the period were:

- Fundraising events including:

o Being one of the charity partners at the 6th Annual Legends Ball held in November 2022, with thanks to the generous support of Alan Graham.

o Our 'Women Breaking Down Barrier's' fundraising event held in January 2023 which celebrated women's sport. o Organising an annual Golf Day hosted at Moor Park Golf Club in Hertfordshire.

o Securing a grant funding award of £24,300 from the Postcode Neighbourhood Trust.

o Securing a grant funding award of £9,268 from the National Lottery Community Fund.

o Our corporate partnership with CSM Sport and Entertainment which included the tremendously successful experience day pilot (outlined above).

o Our role as one of the original charity beneficiaries in the Sporting Chance Prize Draw, the second year of which took place during March 2022. This secured a further £5,900 for the charity. We have since secured agreement for our involvement in year 3 of the initiative.

These successes give confidence in the future direction of the charity's fundraising strategy with a small team (1.4 FTE) in place and supported by our Fundraising Advisory Board, as well as the Board of Trustees.

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Switch The Play Foundation

Operating and Financial Review for the Year Ended 31 January 2023

Fundraising income was supplemented with earned income from sporting organisations contracting Switch the Play Foundation to deliver specific services to support the personal development of sportspeople. The scale of these resources are finite given the financial pressures that many sporting bodies have themselves faced and the historic lack of emphasis on duty of care in sport (acknowledged within government sport policy in the UK). This earned income will always need to be supplemented by fundraising income to be able to ensure that support is available for all sportspeople who need it.

Reserves Policy

The trustees have identified the need for the charity to hold reserves for the following purposes:

a) The need to fund short-term deficits in a cash budget, e.g. money may need to be spent before a funding grant is received.

b) Covering unforeseen day-to-day operational costs, eg employing temporary staff to cover a long-term sick absence. c) To help mitigate the risk of unforeseen emergency or other unexpected need for funds, e.g. finding 'seed-funding' for an urgent project.

d) As a source of income to mitigate against risks of a grant or partnership not being renewed.

e) Planned commitments that cannot be met by future income alone, e.g. plans for a significant project that requires the charity to provide 'matched funding'.

Of the five primary areas identified above Trustees have identified a-c being the initial priority areas.

The overall aspiration is to develop a reserves budget that is the equivalent to 6 months of salary and operational running costs. It is recognised given the context provided above that it will take time for the charity to build reserves to this level.

Update

The focus of the charity in 2023 will be addressing the deficit on the balance sheet and starting to build reserves. The Trustees are aiming at having 3 months reserves no later than July 2024, and supported by the new Omnia Sport Partnership, have a clear strategy in place for how this will be achieved.

Public benefit

The trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit.

Grant making

As of January 2023, the charity did not have a formal grant programme in place. As previously reported the charity has an aspiration to launch an athlete bursary scheme (subject to funding). This grant making approach through the athlete bursary scheme would enable the charity to go further in the individualised support it provides to beneficiaries. We know that the vast majority of people on a talent pathway will not have a long professional career - in football these figures are as high as 97%. We also know that elite sportspeople are not earning significant sums through playing sport, for example more than 60% of the UK's top sportswomen earn less than £10,000 per year through playing sport.

Whilst the charity is able to provide the vast majority of its own services free of charge to sportspeople we recognise that for many part of their personal development plan will include further educational or vocational learning. This could be invaluable to improve their employability prospects beyond playing sport. There are real costs associated with such learning and often these can be prohibitive.

Going Concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence going forwards. This includes taking into account any existing liabilities that the charity has and the significant progress that has made in reducing its deficit during the 2023 financial year to date. The charity is forecasting to make a small surplus in the year ending January 2024.

Principle Risks

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Switch The Play Foundation

Operating and Financial Review for the Year Ended 31 January 2023

Our risk register tracks key organisational risks and is reviewed regularly by trustees. The principal risk facing the charity relates to finances and ensuring the charity is generating sufficient fundraising income to cover its core costs.

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Switch the Play Foundation is the UK's only charity dedicated to supporting all sportspeople - irrespective of their sport, background or stage of their sporting career - with their successful transition into life outside of sport. Having been established as a social enterprise in 2014 we converted to charitable status in February 2020 with the aspiration of further growing our impact. We are proud over that time to have built a reputation as a credible and trusted supporter, partner and collaborator for sporting organisations and sportspeople alike.

Our vision is a world where every sportsperson fulfils their potential at every stage of their lives.

Our mission is to empower all sportspeople to be their best through and beyond sport, providing best-in-class person-centred training, learning and support.

Our charitable purpos e is to:

Why we are needed

There is a hidden majority of sportspeople playing sport at a high level.

o For example, over 60% of the UK's top female athletes make less than £10,000 per year.

o Over 70% of sportspeople retire through injury, de-selection or their contract not being renewed.

o 52% of those who played sport professionally reported financial difficulties in the five years after stopping playing.

o 54% of former professional sportspeople have had concerns about their mental or emotional wellbeing since retiring, with 3 in 5 of those who have an issue with their mental/emotional wellbeing not seeking help.

o 1 in 2 former sportspeople do not feel in control of their lives within two years of finishing their career

Our Values

" Excellence - excellence is at the heart of everything we do with pride in the quality of our delivery and striving to be the best we can be in all of our interactions with beneficiaries, donors and stakeholders.

" Passion - we exist because we care. Passion is infectious. Our passion will help us to deliver the excellence that we strive for.

" Person Centred - an unrelenting focus on the needs of the individual and having a positive impact.

" Independent - we work with the sporting system but we are independent. Our independence will help build trust with our beneficiaries.

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

OBJECTIVES AND ACTIVITIES

Significant activities

Switch the Play Foundation delivers the following services:

o Personalised one to one coaching or mentoring support for every member

o Switched On Inspires, a one stop platform of information, support and resources to help sportspeople prepare for life outside of sport.

o Career Pathways support offering access to business mentors, experience days, work experience, shadowing and other opportunities to enable sportspeople to explore their options and put a plan in place in line with a chosen path.

Public benefit

The trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit.

Grantmaking

As of January 2023, the charity did not have a formal grant programme in place. As previously reported the charity has an aspiration to launch an athlete bursary scheme (subject to funding). This grant making approach through the athlete bursary scheme would enable the charity to go further in the individualised support it provides to beneficiaries. We know that the vast majority of people on a talent pathway will not have a long professional career - in football these figures are as high as 97%. We also know that elite sportspeople are not earning significant sums through playing sport, for example more than 60% of the UK's top sportswomen earn less than £10,000 per year through playing sport.

Whilst the charity is able to provide the vast majority of its own services free of charge to sportspeople we recognise that for many part of their personal development plan will include further educational or vocational learning. This could be invaluable to improve their employability prospects beyond playing sport. There are real costs associated with such learning and often these can be prohibitive.

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

OBJECTIVES AND ACTIVITIES

Volunteers

In spring 2021 the charity formally established two advisory boards of senior volunteers to support both the athlete facing and fundraising activities of the charity. Both Advisory Boards have trustee representation and there is a direct line of reporting to board. The approach also forms part of the charity's succession planning for potential future trustees.

The primary function of the Athlete Services Advisory Board is to support the staff team in the development and evolution of our Athlete Services to ensure our offer is needs led, informed by the latest industry and academic insight, and helps to have a positive impact on the beneficiaries of our charity - current and former sportspeople. The Board helps to advise the Executive Team to ensure that the athletes needs are at the heart of every decision. The main functions of this Athlete Services Advisory Board are to;

The primary function of the Fundraising Advisory Board is to support and enable opportunities for Switch the Play Foundation to unlock new fundraising opportunities and ultimately, help us to reach more sportspeople who need support with their transition to life outside of sport. The main functions of this group are to:

As of January 2023 there were 7 senior volunteers on the Athlete Services Advisory Board and a further 6 volunteers on the Fundraising Advisory Board. Both groups aim to meet four times per annum with individual support provided ad hoc in between meetings.

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities 2022 OVERVIEW

We are incredibly proud of our successes over the last year as we have continued to build on our reputation as a trusted charity delivering a positive impact for athletes supporting their personal development, wellbeing and preparation for life beyond sport. Against all our metrics for athlete support, we have exceeded our targets compared to previous years. We supported over 1,100 beneficiaries across 25 sports in 2022. The charity now has over 500 members of our Switched On network receiving personalised support, whilst we delivered 68 life skills masterclasses across the year.

Despite these successes there remains much to be done in terms of meeting the needs of our beneficiaries. Greater visibility of the issues facing athletes across all sports is required whilst the charity needs to grow our revenue to meet the increasing demand for our vital wellbeing and transition support for athletes. Whilst the sporting system in the UK continues to underinvest in this area it is ever more crucial that we continue our work, and we could not do this without the generous support of our donors and supporters.

We have had some successes in our fundraising work, and we are now keen to build on these particularly given that we are not immune to the challenges faced by small charities as the UK finds itself in the biggest cost of living crisis for a generation. As the Charities Aid Foundation's (CAF) research has found over half of charity leaders state that generating income and finding financial stability was one of their three top challenges. This is true of Switch the Play Foundation and the Trustees acknowledge that our financial results are not as we had hoped and planned.

Switch the Play converted to charitable status from a Community Interest Company in February 2020, shortly before the Covid-19 pandemic. This immediately put the charity in a challenging position when a number of fundraising events for which Switch the Play was the beneficiary were cancelled. Trusts and Foundations were either significantly oversubscribed or not accepting applications from new charities. Allied to this the charity did not have significant reserves to help mitigate the impacts or a pipeline of existing donors to fall back on in times of challenge. Despite this we continued to find a way to ensure that we not only survived but our services were delivered to our beneficiaries, with growth in provision across a number of areas.

Having finally come through the pandemic our financial year in 2022 was unfortunately negatively impacted by recruitment challenges with the charity's sole full time fundraising post vacant for 7 months during the financial year. This had a material impact on our fundraising strategy and contributed to the charity posting a further loss for the financial year ended 31st January 2023. Those impacts have been mitigated by individual financial loans provided to the charity that have safeguarded its immediate future.

The focus of the charity in 2023 has therefore been to address the deficit on the balance sheet and set the charity up with a more sustainable mix of fundraising income going forwards. I am pleased to report that with developments over recent months (as of October 2023) the charity is now able to present a more positive financial position. These developments include the conversion of loans from a key supporter of the charity into a charitable donation and most recently the development of a significant new strategic partnership with the Omnia Sports Group which includes agreement for immediate investment into the charity as part of its initial commitment towards a long-term partnership. They are committed to supporting our aspiration of operating with 3 month's reserves by the end of year one of the partnership (end of July 2024).

Sharing these updates in our current financial year (ending 31 January 2024) are important to provide as they highlight a materially improved picture that provides confidence in the charity's future.

Finally, I wanted to conclude by thanking three groups of people. Firstly, to all our donors and supporters without whom we would not be here. We never take for granted the decision to support our cause amongst all the worthwhile charitable causes that individuals and companies could choose to support. I also wanted to thank my fellow trustees for their hard work and wisdom in helping to navigate times of challenge and ensuring we continue to deliver impactful support for athletes. And finally, to our small staff team. The impact we deliver punches well above our size and it is testament to a group of people who care passionately about the cause and work tirelessly to help support current and former athletes.

Craig Donaldson

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

Chair

Charitable activities

There is much for the charity to be proud of during the year in terms of delivering its charitable activities. Highlights from the year include:

Looking ahead, there are a number of new agreements put in place during the financial year that will come to fruition into 2023. For instance:

Beyond the numbers we are proud of the impact that the charity is having in terms of high-quality service delivery which is contributing positively towards the wellbeing and supporting people to put plans in place for their future.

Case Study - Sport Industry Career Pathways - Athlete Experience Day

The model for the experience day concept was developed from athlete feedback which highlighted that there are real gaps in their knowledge of what opportunities might be available when it comes to exploring future career pathways. The Foundation is not a recruitment organisation but has taken a deliberate focus on helping athletes to 'try before they fly' in exploring potential pathways that could be of interest for future careers. Athletes have told us that when finances are tight post sporting career, they want to be sure that any investment into re-training is done in an area that aligns to a path they want to follow. The Experience Day concept brings together insights from athletes about careers/sectors of potential interest alongside insight from industry where they have a people need and the traits that athletes bring align well to what they are looking for.

In the specific example of the Sport Industry Experience Day, the motive for our partners CSM Sport and Entertainment was a staff engagement opportunity via a volunteering 'give back' day. In total 16 athletes from 7 different sports attended to learn about careers in the sport industry. Content for the day included an introduction to the sports industry and CSM as a company, carousels on the different work areas (e.g. working with rights holders, with brands, and with events), as well as an athlete Q&A with athletes who had successfully made their own transitions into different areas of the sport industry. Networking was a central feature of the day including 'buddying' the athletes which different members of the CSM team. Athletes were all given post session support from the Switch the Play team which included providing ongoing mentoring support.

The day was a brilliant success for the athletes:

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

" The extent that the day was useful in helping attendees understand and consider areas of interest within the sports industry = 4.92/5

" Post event confidence that the attendees have the skills, tools, and support to transition effectively into a career in the sports industry = 3.92/5

A huge thank you to switch the play and CSM for organising and delivering a day that has opened up my eyes to numerous exciting career avenues to go down. They have given me the confidence that being an athlete will help rather than doubting other skills I have to contribute outside of sport.

Today was a great experience to meet new people and learn more about the industry. It was very inspiring to hear of the different routes and opportunities off the field and how I can bring my loved experience as an athlete to benefit rightsholders and brands equally.

Fantastic day that has allowed me to network and be confident in wanting to try a new career when the time is right.

I really enjoyed the experience day with Switch the play and CSM. I'm so grateful to have support around transitioning out of elite sport. It can definitely be challenging at times, and it was amazing to learn from other athletes who have been there and done it already.

The STP x CSM event was incredibly useful and gave me the opportunity to explore different avenues for a career after sport that I wouldn't be able to do in this capacity. The people were incredibly open in sharing honest insights into their world of work and it was great to create these connections for the future.

The net promoter score for Switch the Play Foundation from the attendees was 92.

The feedback was similarly positive from CSM and they are committed to running more athlete experience days with the charity in 2023 and beyond.

It was a real privilege to meet the athletes and work with your team yesterday (and in the build-up). We've had so much great feedback from the internal team, inspired by the new connections and viewpoints. It's been hard to process it all to be honest! (CSM feedback on the day).

The following summaries some examples of feedback received from beneficiaries over the last 12 months:

Impact 1 - Improving preparedness to transition effectively to life beyond sport.

This includes:

o Improving awareness that developing yourself outside of sport is something to act on

Switch the Play provide vital support to athletes transitioning from sport to their next career. Their services are thorough and engaging and it feels like they really understand and care. (Switched On Member)

Networking is so vital to advancement in this industry. People are willing to help and you're not alone. (Switched On Member feedback on learning from an athlete experience day)

o Increased confidence that they have the skills, tools, and support to transition effectively

Having someone to be able to talk in a safe external environment with invaluable experience has helped to feel confident in myself and the future. (Switched On Member approaching the end of their sporting career)

[I have learnt] not to be too impatient and hard on myself. Transitioning out of sport is challenging and that's ok. Sometimes it takes time to get to where you want to be. (Switched On Member)

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

[I am] more knowledgeable on what I want to do. More confident in how I will deal with athlete identity as I transition out of competitive sport. (Switched On Member)

o Improved understanding of self, including values, strengths, skills and passions

It has been an absolute pleasure working with John, the experience and insight he has been able to offer has really allowed me to take the next steps with confidence within my journey. We worked on understanding my personality and strengths, and more importantly using different tools to work out what I want to do. Looking at options, from key contacts John knows, to discovering the resources and routes available and how these would fit in within my life has been invaluable. John spent the time to really understand who I was, and always made himself feel available to talk about anything. I can't thank John enough for the role he has had in supporting and guiding me through this transition. (Switched On member approaching the end of their sporting career)

o Establishing clear plans for how to prepare for the future with support to take positive action

I will contact some of the people I met today and ask them for advice on how I can change careers. I will also look into any courses or qualifications I can do to upskill myself. (Switched On Member's commitment to act following athlete experience day)

I needed this service 10 years ago when I actually retired from a UK Sport funded programme….although I felt that life was my oyster and I could do whatever I wanted, it took years before I faced up to the fact I was lost without the focus of sport in my life….my [mentor] helped me see this is a normal process and has given practical steps to help me move forward including a reading list and some good old goal setting!

o Improved employability.

"The support at StP has been second to none. I have felt listened to and cared for in the stressful world of employment and hopefully this will help me secure the job I am looking for in the near future. The most useful thing was having an immediate personal contact I could reach out to when needed." (Switched On member)

Impact 2 - Protecting and improving individual wellbeing

Whilst the goal is ultimately to support people to improve their wellbeing, we understand that the change process of leaving sport can be particularly tough and for many the first priority is to protect their wellbeing at a time of high uncertainty. The following quote from a retired sportsperson who is a Switched On member illustrates the types of challenges that sportspeople face in managing their transition.

I have a beautiful wife, a perfect baby girl, a house to live in and a lovely pup for a best friend…but at times I feel completely hollowed out and am not the best support for them emotionally, I can break into tears in the middle of a field or in the shower for no reason…..life is hard inside sport but you have chosen your battle….outside of sport life is difficult in a different way, when there is no battle to focus on….

When asked about the role of our mentoring support in relation to improved wellbeing when anticipating a life outside of sport, the average score of Switched On Members is 4.5/5.

Switch the Play provide a vital service for athletes that isn't available elsewhere. In what other industry are you forced to make a complete career change after you've 'passed your used by date'? This can be really tough for athletes to get their heads around, and Switch the Play make that transition a little easier and a little smoother. (Switched On Member)

Switch the Play has been amazing to offer a space where if I have concerns or questions or feel I need support with anything, that they could help offer this or signpost appropriately. (Switched On Member)

Impact 3 - Supporting sportspeople to make a positive change in society.

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Switch The Play Foundation

Report of the Trustees for the Year Ended 31 January 2023

Sportspeople are role models and they have an opportunity to use their profile and status to help make a positive change in society. This is an important element of building their identity, improving their own wellbeing by giving back, and developing new skills that will help them to prepare for the future.

The feedback is hugely insightful. I absolutely love the comments and how the frequent mentions of inspiring the younger generation, being more active in the community and acting on values are coming through. Brilliant stuff! (Client feedback in response to young footballers engagement within 'Building Your Legacy' masterclasses delivered to EFL clubs)

FINANCIAL REVIEW

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a constitution, and constitutes a charitable incorporated organisation.

Recruitment and appointment of new trustees

Apart from the first charity trustees who were appointed for an initial one year period, every trustee is appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity undertook a rigorous process to identify the skills, knowledge and experience needed for the effective administration of the CIO.

Looking ahead:

We are truly grateful for the work of the executive team, our team of delivery associates and our partners for making this achievable. Despite challenging times in terms of the fundraising landscape at large we are confident that the charity can continue to grow its reach and the positive impact it has on sportspeople to help them to thrive through and beyond sport.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CE020539 (England and Wales)

Registered Charity number 1187733

Registered office

Westminster House 10 Westminster Road Macclesfield Cheshire SK10 1BX

Trustees

Ms E P Mason Mr C F Donaldson Mr C Brindley Mrs E K Allen (resigned 23.5.23) Ms G L Dickins (resigned 8.9.22) Mr S C Mitchell Mrs S Francis Mrs S Knight Ms A Edwards

Company Secretary

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Switch The Play Foundation

Statement of Financial Activities for the Year Ended 31 January 2023

Notes
INCOME AND ENDOWMENTS FROM
Other trading activities
2
Investment income
3
Total
EXPENDITURE ON
Charitable activities
Cost of delivery of services
Wages
Advertising
Office costs
Insurance
Travel
Bank charges
Legal and professional
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
193,650
-
193,650
81,664
140,721
130
4,682
697
225
397
2,083
230,599
(36,949)
(110,939)
(147,888)		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 31.1.23
Total
funds
£
193,650
-
193,650
81,664
140,721
130
4,682
697
225
397
2,083
230,599
(36,949)
(110,939)
(147,888)		 31.1.22
Total
funds
£
201,174
2
201,176
77,788
130,665
11,432
24,715
843
5,289
303
1,350
252,385
(51,209)
(59,730)
(110,939)

The notes form part of these financial statements

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Switch The Play Foundation

Balance Sheet 31 January 2023

Notes
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS/(LIABILITIES)
FUNDS
11
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
11,881
7,084
18,965
(133,153)
(114,188)
(114,188)
(33,700)
(147,888)		 Restricted
fund
£
-
-
-
-
-
-
-
-		 31.1.23
Total
funds
£
11,881
7,084
18,965
(133,153)
(114,188)
(114,188)
(33,700)
(147,888)
(147,888)
(147,888)		 31.1.22
Total
funds
£
15,744
2,651
18,395
(77,447)
(59,052)
(59,052)
(51,887)
(110,939)
(110,939)
(110,939)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 15

Swil¢h Tho Play Foundalion Balune• Shofrt- <gntin4 31 Januory 2023 These lho￿l¢JI Statements have been prepared In a(r•rdarKe wlth the provl$1th15 applicabl• to d￿rItable <vmpaffll¢$ 5ublea to the smull ¢oryarAs re9ime. ID, 23 The finonciol stalemeTrts werè uppwovod by the Boord of Tvu￿•￿S cwthorised for jssve on .-__............._...................... were sIg￿d ￿ its behfjlf by.. Mr C F D￿aIdSOn- Trwste Thp noles fomi part of thèse Matemej Poge 16

Switch The Play Foundation

Notes to the Financial Statements for the Year Ended 31 January 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

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

Expenditure

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

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

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

2. OTHER TRADING ACTIVITIES

Athlete services
Projects and programme
Fundraising		 31.1.23
£
36,769
10,000
146,881
193,650		 31.1.22
£
16,095
2,577
182,502
201,174

continued...

Page 17

Switch The Play Foundation

Notes to the Financial Statements - continued for the Year Ended 31 January 2023

3. INVESTMENT INCOME

31.1.23 31.1.22
£ £
Deposit account interest - 2

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

6.

31.1.23 31.1.22
Employees 4 3
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
31.1.23 31.1.22
£60,001 - £70,000 1 1
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Other trading activities 201,174 - 201,174
Investment income 2 - 2
Total 201,176 - 201,176
EXPENDITURE ON
Charitable activities
Cost of delivery of services 72,443 5,345 77,788
Wages 130,665 - 130,665
Advertising 11,432 - 11,432
Office costs 24,715 - 24,715
Insurance 843 - 843
Travel 5,289 - 5,289
Bank charges 303 - 303
Legal and professional 1,350 - 1,350
Total 247,040 5,345 252,385

Page 18

continued...

Switch The Play Foundation

Notes to the Financial Statements - continued for the Year Ended 31 January 2023

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
NET INCOME/(EXPENDITURE)
(45,864)
RECONCILIATION OF FUNDS
Total funds brought forward
(65,075)
TOTAL FUNDS CARRIED FORWARD
(110,939)
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Trade creditors
Social security and other taxes
VAT
Credit card
Trustee loans
Pension creditor
Net wages creditor
Other creditors
Accrued expenses

Page 19

continued...

Switch The Play Foundation

Notes to the Financial Statements - continued for the Year Ended 31 January 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23
£
Bank loans (see note 10)
33,700
Social security and other taxes
-
33,700
10.
LOANS
An analysis of the maturity of loans is given below:
31.1.23
£
Amounts falling due within one year on demand:
Bank loans
11,760
Amounts falling between one and two years:
Bank loans - 1-2 years
11,760
Amounts falling due between two and five years:
Bank loans - 2-5 years
21,940
Included in other creditors is a loan from Mr R Young amounting to £3,558 (2022 £3,558).		 31.1.22
£
44,584
7,303
51,887
31.1.22
£
5,416
11,760
32,824

11. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement At
At 1.2.22 in funds 31.1.23
£ £ £
Unrestricted funds
General fund (110,939) (36,949) (147,888)
TOTAL FUNDS (110,939) (36,949) (147,888)
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 193,650 (230,599) (36,949)
TOTAL FUNDS 193,650 (230,599) (36,949)

Page 20

continued...

Switch The Play Foundation

Notes to the Financial Statements - continued for the Year Ended 31 January 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.2.21
£
Unrestricted funds
General fund
(65,075)
Restricted funds
Restricted fund
5,345
TOTAL FUNDS
(59,730)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
201,176
Restricted funds
Restricted fund
-
TOTAL FUNDS
201,176
A current year 12 months and prior year 12 months combined position is as follows:
At 1.2.21
£
Unrestricted funds
General fund
(65,075)
Restricted funds
Restricted fund
5,345
TOTAL FUNDS
(59,730)		 Net
movement
in funds
£
(45,864)
(5,345)
(51,209)
Resources
expended
£
(247,040)
(5,345)
(252,385)
Net
movement
in funds
£
(82,813)
(5,345)
(88,158)		 At
31.1.22
£
(110,939)
-
(110,939)
Movement
in funds
£
(45,864)
(5,345)
(51,209)
At
31.1.23
£
(147,888)
-
(147,888)

Page 21

continued...

Switch The Play Foundation

Notes to the Financial Statements - continued for the Year Ended 31 January 2023

11. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
394,826
-
394,826		 Resources
expended
£
(477,639)
(5,345)
(482,984)		 Movement
in funds
£
(82,813)
(5,345)
(88,158)

The general fund deficit brought forward at 4 February 2020 resulted from the conversion of Switch The Play CIC (Company number 09369073) from a Community Interest Company to a Charity Incorporation Organisation.

12. RELATED PARTY DISCLOSURES

Mr Craig Donaldson was owed £66,133 at 31.1.23 (31.1.2022 £28,533) . £57,600 was converted to a donation after the year end.

Page 22

Switch The Play Foundation

Detailed Statement of Financial Activities for the Year Ended 31 January 2023

Detailed Statement of Financial Activities
for the Year Ended 31 January 2023
31.1.23 31.1.22
£ £
INCOME AND ENDOWMENTS
Other trading activities
Athlete services 36,769 16,095
Projects and programme 10,000 2,577
Fundraising 146,881 182,502
193,650 201,174
Investment income
Deposit account interest - 2
Total incoming resources 193,650 201,176
EXPENDITURE
Charitable activities
Wages 130,152 119,369
Social security 8,451 8,671
Pensions 2,118 2,625
Cost of delivery of services 81,664 96,355
Insurance 697 843
Office costs 4,682 6,148
Advertising 130 11,432
Travel and subsistence 225 5,289
228,119 250,732
Support costs
Finance
Bank charges 397 303
Governance costs
Accountancy and legal fees 2,083 1,350
Total resources expended 230,599 252,385
Net expenditure (36,949) (51,209)

This page does not form part of the statutory financial statements

Page 23

Switch The Play Foundation

Contents of the Financial Statements for the Year Ended 31 January 2023

Page
Operating and Financial Review 1 to 3
Report of the Trustees 4 to 12
Independent Examiner's Report 13
Statement of Financial Activities 14
Balance Sheet 15 to 16
Notes to the Financial Statements 17 to 22
Detailed Statement of Financial Activities 23