Charity number: 1193601 

## Sweaty Betty Foundation 

Report and unaudited financial statements For the year ended 31 December 2024 




**Sweaty Betty Foundation** 

## **Contents** 

## **For the year ended 31 December 2024** 

Reference and administrative information  ....................................................................................................... 2 Trustees’ annual report  ..................................................................................................................................... 3 Independent examiner’s report  ...................................................................................................................... 18 Statement of financial activities (incorporating an income and expenditure account)  .................................. 19 Balance sheet  ................................................................................................................................................... 20 Statement of cash flows  .................................................................................................................................. 21 Notes to the financial statements  ................................................................................................................... 22 

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**Sweaty Betty Foundation** 

**Reference and administrative information** 

## **For the year ended 31 December 2024** 

|**Charity number**|1193601|
|---|---|
|**Country of registration**|England & Wales|
|**Registered office and**|Wolverine Worldwide|
|**Operational office**|Kings Place|
||90 York Way|
||London|
||N1 9AG|
|**Trustees**|Trustees who served during the period and up to the date of this report|
||were:|
||Tamara Hill-Norton|
||Amman Johal (resigned 9 October 2024)|
||Chantel-Mariee Lewis|
||Omoefe Odeka|
||Melissa Mullen|
||Yoon Gi Yang (resigned 18 July 2024)|
||Heidi Coppin (resigned 12 January2024)|
||Kerry Williams (Appointed 13 March 2024)|
||Nicky Affleck (Appointed 19 June 2024)|
||Emma Atkins (Appointed 19 June 2024)|
||Preeya Varsani (Appointed 19 June 2024)|
||Kainaat Siddiqi (Appointed 8 October 2024)|
|**Key management**|Afsana Lachaux|
||**Director**|
|**Personnel**||
|**Bankers**|HSBC|
||21 Kings Mall|
||Hammersmith|
||London W6 0QF|
||CAF Bank|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4TA|
|**Independent**|Jonathan Coyle|
|**Examiner**|Sayer Vincent LLP, Chartered Accountants|
||110 Golden Lane|
||LONDON|
||EC1Y 0TG|



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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

The Trustees present their report and the unaudited financial statements for the year ended 31 December 2024. 

Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the charity's constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. 

## **Objectives and activities** 

## **Purposes and aims** 

The Foundation’s objects are to advance in the interests of social welfare the opportunities for women and girls to engage in physical activity. The key beneficiaries are women and girls who face specific challenges, barriers and difficulties accessing those opportunities. 

The Foundation was launched in February 2021 and has now delivered a range of activities and research to support women and girls to help them to get active. In the last few years, the Foundation has focused on the least active teenage girls to help them overcome barriers to participation. 

Globally, only 15% of teenage girls are doing enough physical activity. The changes to girls’ bodies during puberty has a huge impact on their body confidence and their confidence doing physical activity. 

In the U.K., teenage girls are significantly less active than boys - girls aged 8-15 average only 25 minutes of sports or exercise per day compared to 40 minutes for boys, and just 44% meet recommended activity levels versus 51% of boys. This lack of activity is linked to concerning health trends, with 36% of girls aged 13-15 being overweight or obese, and dissatisfaction with physical well-being rising sharply through adolescence[1] . 

Mental health data further underscores the urgency: only 14% of girls aged 11-16 now describe themselves as ‘very happy’ (down from 38% in 2009), while anxiety levels have soared, with 89% of girls aged 7-21 feeling generally worried and 61% experiencing anxiety most of the time. With research showing that physical activity improves happiness, resilience, and life satisfaction, helping girls get active is a crucial intervention.[2] 

The challenge is even greater for girls from low-income backgrounds and black and ethnic minority communities, who face additional barriers to participation in sports. Economic constraints, cultural perceptions, and a lack of accessible opportunities mean these girls are even less likely to be active. Children from lower-income families are least likely to meet recommended activity levels, and ethnic minority girls are more likely to drop out of sport in adolescence. 

By breaking down these barriers, the Sweaty Betty Foundation ensures that all girls, regardless of background, can experience the physical and mental health benefits of an active lifestyle. 

> 1 Data from SBF Grant Funded research by Women in Sport: State of Play report 2024 

> 2 As above 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

In 2024, the Foundation focused on three key priority areas: 

- Maintain grant funding existing organisations to deliver programmes and initiatives in schools and in communities. 

- Implement the PACK framework, an intervention framework designed to tackle the four specific barriers to play and physical activity – Puberty, Attitudes, Changing Rooms and Kit. 

- Strengthening Board governance, with the recruitment of four new Trustees and giving greater focus to girls’ voices and safeguarding on the board through a dedicated youth Trustee. 

## **Approach to achieving impact** 

As a predominantly grant-making Foundation, we seek out organisations and partners with similar values who can demonstrate alignment with our vision, mission and objectives. We do not operate an open grants programme and work with select partners to co-design and co-produce programmes and initiatives. 

The Foundation awards grants to further its objects and purpose. The Trustees have ultimate responsibility for all grant-making decisions in line with agreed priorities. 

As well as providing grants, the Foundation designs and implements a small number of projects itself, some of which are in partnership with our key partner the activewear company, Sweaty Betty. 

The Trustees review the aims, objectives and activities of the charity each year to ensure the charity remains focused on its stated purposes. The Foundation is now in its fourth year and can report on tangible outcomes and benefits from the partnerships it has developed since its inception in 2021. 

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set. 

## **Achievements and performance during 2024** 

The Foundation empowers women and girls from all backgrounds to achieve lifelong health and activity through grant-making programmes and initiatives and research. 

- Together with our partners, we supported over 2,000 teenage girls to engage in a wide range of activities including period education workshops, mentoring activity, hiking, dance classes and gaining coaching qualifications. 

- Our PACK (Puberty, Attitudes, Changing Rooms, Kit) intervention framework was formally adopted by the Board. PACK programmes included the period education workshops delivered by Greenhouse Sports and Teach First. Three new schools were onboarded in preparation for our 2025 campaign ‘Change Starts in the Changing Room’, an initiative to transform girls’ PE changing rooms through an interschool challenge initiative. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

- Last year, we engaged with 10 schools through one strategic partner. In 2024, we’ve increased that to 30, a 200% increase in our reach attributable to our PACK model, enabling us to impact hundreds more girls. This represents a shift in the conversation around periods and physical activity. It means more young girls gaining the knowledge and confidence to stay active, more teachers equipped with the tools to support them, and a strong foundation for us to build our education proposition. 

- On International Women’s Day our partner, Sweaty Betty, launched an award-winning campaign to promote our redesigned sports hijab to enable Muslim girls to participate in sports and physical activity. All proceeds from the sale of the sports hijab will be donated to the Sweaty Betty Foundation. 

On International Day of the girl, we announced our campaign to donate 300 hijabs to girls across the UK. 

- In May, 'Breaking Barriers’ research findings were released by Access Sport, jointly funded by Foundation and Nuffield Health. The research revealed: 

   - Lack of confidence and opportunity as key barriers to disabled teenage girls’ sport participation, 64% of disabled teenage girls say they don’t take part in sport or exercise regularly. 

   - The need for understanding and inclusive environments in sport and exercise provision, as happiness hits an all-time low among teenage girls. 

The new study sheds light on the untold struggles of disabled teenage girls in accessing sport and exercise, exposing the harsh realities faced by 12.2% of disabled females aged 10-19 in England. 

The Foundation awarded five new grants with a total value of £ 154,958. 

1. Teach First (£50,000) 

2. Causeway Education (£37,458) 

3. Ark Schools, Birmingham, (£22,500) 

4. Our Parks (£10,000) 

5. Women In Sport (£35,000) 

We partnered with eleven organisations to deliver a range of impactful programmes and research in support of our strategic goals. In addition to the above new partners, we continued to support existing delivery with Black Girls Hike, Scottish Sports Futures, Greenhouse Schools, Access Sport, London Sport and Sporting Equals 

## **Summary of Key Projects** 

## **PACK Framework Programmes: Puberty, Attitudes, Changing Rooms, Kit** 

## **Puberty: Period Education Workshops** 

Puberty is a significant barrier to girls being active. Periods, low confidence and being watched by other people are factors preventing girls from being active. According to The Youth Sports Trust, periods remain the biggest barrier to girls’ participation age 11-13 (47%) and age 14-15 (52%). Through 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

our PACK model, the Foundation has been supporting Greenhouse Schools and Teach First to deliver period education workshops across schools in the U.K. 

## **GREENHOUSE SPORTS** _: GamechangeHers Period Education pilot programme_ 

In 2024 we extended our partnership with Greenhouse Schools to help us test the effectiveness of period education workshops across schools in London. 

Key outcomes included: 


Greenhouse conducted pre and post surveys which revealed actionable insights for future delivery, with suggestions to enhance engagement and overcome any barriers to participation. Overall, the pilot successfully contributed to increasing awareness and participation in physical activity among young girls. 

Vital feedback and insight from teachers and pupils further demonstrated the impact and importance of this 

programme. 


_‘’I found the workshop helpful because I wasn’t really comfortable talking about periods before, but now I feel more confident. The workshop was great.’’_ Year 10 pupil 

_‘This is really great content. I also lead on PSHE and will do a direct swap with the current material we use on the menstrual cycle.’’_ Mrs Troiano, P.E teacher, St.Anne’s 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

_‘’We enjoyed delivering the sessions and found it very useful.We have girls asking us now where the products are kept and if they can access them. This was never really spoken about before so it has really helped to create positive conversations around periods for our young scholars.’’_ 

## **TEACH FIRST** _: Period Education workshops_ 

Teach First is a new strategic partner and their focus has been on working with schools primarily across the Northwest region. 

In its first year, Teach First have engaged with four schools with 380 girls receiving period education with ongoing delivery and a further two -three schools to be identified. 

- Before the workshops 9.3% pupils rated themselves against the highest level of confidence regarding their knowledge on the menstrual cycle, which increased to 21.7% post-workshop **.** 

- When asked if they would be more likely to participate in PE during their menstrual cycle after the workshop, 73.1% pupils indicated a positive response (5 out of 10 or above). 

The project is already having an impact by opening conversations and providing a safe space for pupils to share their experiences. 

Teachers also included boys in the conversations about periods and the menstrual cycle, with one school deciding to deliver workshops to pupils of all genders. 

_‘They are beneficial for boys and girls to gain an understanding that this is part of life for women’…. ‘As brothers, sons, future partners the boys need to have an awareness of the impact that periods have on women's lives.’_ Mrs Wood, Teacher 

## **Attitudes** 

## **CAUSEWAY EDUCATION:** _Active and relatable role model initiative_ 

Negative attitudes and lack of positive role models can deter teenage girls from participating in Sports and physical activity. This picture is more pronounced for ethnic minority girls who face unique barriers to sports and physical activity, stemming from negative social attitudes and a scarcity of relatable role models. 

The Causeway Education ‘active and relatable career role model’ project delivered a series of mentoring sessions in schools to inspire and encourage girls from underrepresented communities to get active in sport and discover the joy of movement. 

These were delivered through school-led inspirational encounters using relatable role models from the wider community, who are professional women who have made sports and being active a central part of their career and life goals. 

The project engaged 307 girls across 10 different schools, delivering a total of 13 workshops. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

The project exceeded its original target of recruiting 5-8 mentors, experiencing a high demand for the mentoring roles with 55 initial volunteer sign-ups, 32 volunteers accepted onto the programme and trained. A further 10 volunteers co-delivered a workshop with Causeway Education. The project collated a wide range of data to evaluate the impact of the programme. 

- 60% of the volunteers that delivered were from an ethnic minority background. 

- 91% of students found the sessions useful with a further 54% very useful. 

Initial proposed outcomes aimed for participants to register positive learning through exit survey. This was collected by using pre-workshop and post-workshop surveys, to identify if students agreed or disagreed with 3 statements more or less after completing the workshop. 


**----- Start of picture text -----**<br>
Physical activity helps me in a lot of<br>different ways<br>50.0<br>40.0<br>30.0<br>20.0<br>10.0<br>0.0<br>Strongly Disagree Neutral Agree Strongly<br>disagree agree<br>Pre-workshop (%) Post-workshop (%)<br>**----- End of picture text -----**<br>


- **Changing Rooms** 

To register the intention of positive behaviour change, students were asked to set a pledge that they will work towards over the next three months, linked to physical activity and the three areas the workshop focused on (positive wellbeing, skill development and goal setting). 187 students set 3- month pledges. An example of pledges set can be seen below: 

_“My final pledge is to be more engaged with physical activity and have a more positive mindset next year. Be more responsible for my actions and have the capability and strength to participate in many different types of sports. This could help me physically and mentally”_ 

_“I’m going to take a walk outside more frequently to be mindful and overcome overstimulation and reset from stress and anxiety”_ 

The pledges and testimonials throughout the programme demonstrate the shift in attitudes and behaviours as a result of this programme’s delivery. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

## **Changing Rooms** 

Transforming girls changing rooms is critical to our mission to get more teenage girls active. The lack of privacy, inadequate facilities and negative attitudes are key contributory factors putting girls off from doing PE. 

She currently finds it uncomfortable or unenjoyable, so the Sweaty Betty Foundation is calling for better changing room facilities that inspire girls to find the joy in movement. In 2025, we will be launching a transformative campaign to address one of the most overlooked barriers to girls' sports participation: the changing room experience. 

The campaign will unfold across 2025, with a strategic approach that puts girls at the centre of solution-finding. In its inaugural year, the Foundation will be working with four schools across the U.K where groups of girls from each school will participate in a unique co-creation process that empowers them to redesign their changing environments. 

## **Kit** 

The Sweaty Betty Foundation aim to get girls across the UK active and stay active. One of the ways we do this is through providing kit to break the barriers that many girls face around clothing, such as: lack of access, poor quality and impractically designed kit. The hijabs are designed by girls, for girls, so they are high quality, accessible and fit for purpose. 

On International Women’s Day, our partner Sweaty Betty launched the redesigned Sports Hijab. The culmination of two years' work with girls from This Girl Can (Leeds) and Sweaty Betty designers to make a product that would enable Muslim girls to take part in sports and physical activity. 

All profits from the sales of the Sports Hijab, as well as the profits of an exclusive long sleeve Breathe Easy Top, are donated to the Sweaty Betty Foundation. 

Furthermore, girls in schools across the UK received 300 sport hijabs. The donation was made to students at Springburn Academy and Shawlands Academy in Scotland, as well as City Academy Bristol, and 4 Ark schools in Birmingham: Ark Boulton, Ark Kings, Ark St Alban’s and Ark Victoria. 

Students at City Academy Bristol said: _**“** We think that the sports hijabs are a great concept because it is inclusive and allows other Muslim hijabi girls to feel comfortable in their space wherever they are, such as when doing things they enjoy like sports.”_ 

## **Community Projects** 

## **SPORTING EQUALS** 

The four-year partnership with Sporting Equals has led to improvements in the experiences and life opportunities of over 1,000 women and girls across Greater Manchester. The programme has delivered a range of activities which include, access to sporting and physical activity opportunities, breaking down barriers to access capacity building and strengthening 5 community-based organisations which are now fully sustainable without support from Sporting Equals. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

In its final year, Sporting Equals has developed strong partnerships with National Governing Bodies to support the five community organisations with access to opportunities for female only sessions and coaching qualifications. This has enabled young women to access higher level coaching qualifications to complete their Level 2 and Level 3 coaching qualifications.  A total of 58 young women have attended a coaching course. 

The final phase of this project focused on the content creation campaign ‘Play Her Way’ to celebrate the four-year partnership and share the learnings from the Girls Powered Project with wider stakeholders. The project has adopted a codesign/coproduction approach engaging the girls in a series of workshops creating content and assets which have been shared on their social media channels. 

Summary of outcomes for 2024 

- 350 Girls engaged to take part in fun, inclusive, and sustainable physical activity. This engagement helped support the girls with codesign which was a key thread running through the project ensuring long term engagement and wider sustainable outcomes. 

- Empowering girls to become leaders and take up coaching qualifications to effect long term systemic change (1-3 girls per community organisation) 

Wider benefits include: 

- Leaderboard – 1 woman went onto Leaderboard this year which creates pathways into decision making roles. 

- Associate Membership – utilise the network of Sporting Equals 500 members to create visibility of the project and share learning. 

- Creating positive role models to share the stories and the journeys of the girls through social media platforms and wider influencing. 

## **BLACK GIRLS HIKE** 

Black Girls Hike continues to deliver a variety of outdoor sessions with groups of young women from Manchester. The natural environment is still perceived to be inaccessible to black and ethnic minority communities. The project aims to break down those barriers for black girls by delivering empowerment and confidence building activities as well as teaching them new skills, such as, hiking and navigation. 

In addition to running these sessions, Black Girls Hike are in the process of developing Black Girls Hike and Sweaty Betty Foundation Activity Booklet that is cocreated with the support of the young women who partake in the outdoor activities. The booklet will capture learnings and practical advice and is intended to be a key resource for young women who want to take part in outdoor activities. 

This year, the project has empowered over 80 girls by building their confidence and skills to embrace the natural environment. 

_“The best part of the experience for me was being able to explore and see bits of nature. I loved being able to talk and socialise with the people around but also to get some exercise in. I also like the fact_ 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

_that the trail was a straight part, so the hike didn’t feel like a chore and was actually enjoyable.”_ Young participant 

## **Research Projects** 

## **WOMEN IN SPORT** 

_Landscape report: The state of play for teenage girls in sport_ :  This report brings together all the available research and evidence to inform the Foundations forward strategy and help shape its grant programme. 

_Impact Framework and resources to guide best practice for teenage girls in sport_ : In collaboration with the Foundation, Women in Sport, will gather qualitative insight into what positive impact looks like for teenage girls in sport, and in life. Alongside a framework for success, the Impact and Evaluation framework will be a vital tool to help the Foundation track and measure the impact of its programmes with the overarching objective of driving systemic change for teenage girls. 

## **ACCESS SPORT** 

The 'Breaking Barriers’ research, led by Access Sport in partnership with Women in Sport and Nuffield health was released in May. The report sheds light on the untold struggles of disabled teenage girls in accessing sport and exercise, exposing the harsh realities faced by 12.2% of disabled females aged 1019 in England. 

The study emphasises that disabled teenage girls’ experiences of sport and exercise have often been overlooked. Going forward the research calls for an intersectional approach that considers the significance of race, disability and socio-economic status when examining female inclusion in sport and exercise. 

The report was widely publicised in the press and accompanied by a short film and toolkit. The data and valuable partnerships will help build more inclusive programmes and initiatives that will improve the health of disabled girls and allow them to be more active. 

## **Financial review** 

Sweaty Betty Foundation’s corporate member is Sweaty Betty Limited. The Foundation is primarily funded through donations from Sweaty Betty Limited with an increasing amount of donations received from Sweaty Betty’s customers and staff. Sweaty Betty Foundation receives quarterly donations from Sweaty Betty Limited based on an annual funding agreement. 

During the reporting period, Sweaty Betty Foundation received £309,868 (2023: £322,821) in donations, £202,847 of which was from Sweaty Betty Limited. 

The primary source of funding consisted of the core donation of £150,000 from Sweaty Betty Limited. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

Additional sources of funding included: 

## From Sweaty Betty: 

- £11,699 Sweaty Betty fundraising campaigns including The Royal Half Parks Marathon. 

- £13,794 from the sale of Sweaty Betty samples to staff. 

- £21,980 from the sale of tickets for Sweaty Betty Warehouse sales. 

- £5,374 profit from sale of Hijab Capsule. 

From external sources 

- £23,413 Foundation led direct fundraising activity 

- £17,689 raised through customer donation in Sweaty Betty stores 

- £33,280 from Sweaty Betty Limited’s supply chain partner, Torque who donate proceeds of sales of unsold stock 

- £32,639 donated by customers via the Sweaty Betty website 

In addition to the above funding, Sweaty Betty donated 300 sports hijabs equivalent to a market value of £9,000 to the Foundation to distribute to girls in schools.   Additional income of £5,374 was received from the sales profit of the Sweaty Betty sports hijabs 

The Foundation’s expenditure is predominantly focussed on providing grant funding to partners, funding our own projects and on internal costs including staff.   The Foundation awarded grants totalling £154,958 (2023: £234,480) during the year.  This was offset by the amount of £51,893 returned by Sporting Equals at the end of their project.  Grant funding is lower than in the previous year as many projects approved in 2023 were only delivered in 2024. 

The charity accounts for all grant funding at the time at the grant commitment is entered into; grant commitments unpaid on 31 December 2024 totalled £99,500 (2023: £200,160). 

Staff costs of £118, 514 (2023: £103,716) are allocated between charitable activities and costs of raising funds. 

During this period Sporting Equals reported an underspend of £51,983 from previous years of the Girls Powered Project. This underspend was due to Sporting Equals absorbing internal marketing & communications and research costs within their operational budget. While this approach aligns with their standard practice, it has led to an unintentional underspend. This sum was returned to the Foundation as required under the Grant Agreement. 

The Foundation started the financial year with considerable free reserves which were accumulated over the first two years of the Foundation.  The Foundation intends to spend the surplus free reserve in FY2025 and the spend will be in line with the Foundations charitable objectives. The board therefore expects a deficit to arise in the current and previous financial years. 

The Foundation’s funding model is reliant on annual cash donations from Sweaty Betty Limited; the Foundation has a very limited appetite for financial risk. Foundation funds are therefore held in accessible cash bank accounts. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

## **Principal risks and uncertainties** 

The Trustees have conducted a review of the major risks to which Sweaty Betty Foundation is exposed. Risks are assessed on the basis of their likelihood and potential impact, and mitigation strategies are put in place to manage them in line with the board's risk appetite. They are recorded in a risk register which is regularly reviewed by the Trustees and updated and approved annually. Where appropriate, systems or procedures have been established to manage the risks the charity faces. 

The Foundation Director continually monitors changes in risk levels or emergence of new risks that may impact upon the organisation and escalates any concerns to the trustees. The trustees consider the following to be the key principle risks that Sweaty Betty Foundation faces: 

## **Financial Risks** 

## Funding from Sweaty Betty reduces, stops or redirected 

Sweaty Betty have confirmed funding of £150,000 for 2025 supported with unrestricted income from the warehouse sales and products to support fundraising efforts. 

We will use minimum guaranteed donation projections to forecast committed expenditure. 

## Reliance on Sweaty Betty funding and lack of income diversification 

To mitigate this risk, we will maintain and continue to drive a steady stream of income from Sweaty Betty’s existing channels. The Foundation will be hiring a dedicated fundraising manager in 2025 to drive income diversification. 

We have a commercial participation agreement with Sweaty Betty in place with agreement that profits from the sale of the Sweaty Betty Sports Hijab will be donated to the Foundation on an annual basis 

## **Operational Risks** 

Grantee fails to deliver project as agreed [for reasons not outside their control/without informing Foundation] 

A grants reporting tracker is now in place to monitor progress with monthly/quarterly check ins by the Director. 

Risk was increased due to recent concerns over a couple of projects. Reduce by implementing a robust plan of action with the partner, agreeing project extensions and building further capacity to deliver where concerns are raised. 

All serious incidents and contract breaches are reported to the Board. 

We have a partnership agreement with Women In Sport to develop an Impact and evaluation framework and provide us with tools and resources to strengthen our monitoring, evaluation and learning (MEL) approach and project governance. 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

Grant policy and processes will be reviewed in 2025 in line with our cycle of planned policy reviews. 

## **Governance Risks** 

Partner misuses funds, potentially leading to the partner’s inability to deliver our project due to lack of funds. 

The following mitigation measures are in place. 

- Reviews and reporting processes in place including regular check ins and site visits. Grants register and tracker in place to enable better monitoring and reporting of grants. 

- Payment schedule ensures that money only paid out in tranches throughout project when we know project progress is being made 

- Grant contract requirement to report any irregularities uncovered and grant termination clause can be exercised if the grantee brings the Foundation into disrepute 

Existing controls will be further strengthened in 2025 

- Revise and overhaul grants policy and processes and due diligence. 

- Implement the tools provided by Women In Sport from the impact framework 

- Explore and introduce spot audits/feedback mechanism. 

- Review and revise grant agreement to reflect any recommendations from the above actions. 

- Proposed new employee position of Partnership and Project executive, a dedicated role to project and account manage partnerships. 

Loss of business continuity caused by loss or extended absence of staff member. 

- The Foundation Director is required to give 3 months’ notice to enable sufficient time for handover. 

- The Operational manual is in place and updated at regular intervals. 

- The Board have detailed overview of projects and business through Board papers and director updates and drop-in clinics. 

- The Business Continuity Plan to be developed in 2025. 

## **Reserves policy and going concern** 

The reserves policy states that at any given time Sweaty Betty Foundation should hold accessible cash reserves sufficient to cover: 

- All committed expenditure to grantees - these are the funds required to meet our contractual financial obligations to grantees. 

- Costs to wind down the Foundation in the unlikely situation that our income reduces or stops so that Sweaty Betty Foundation is no longer financially viable. We estimate this to be £75,000 to cover six months of operating costs plus legal and audit expenses to shut down our operations. 

At the end of the reporting period, free reserves were £235,563 (2023: £229,442), which is significantly above our reserves policy requirement. 

14 



**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

As a responsible charity, we recognise the importance of maintaining adequate reserves to ensure financial stability and long-term sustainability. While our target reserve level is £75,000, our current reserves exceed this amount, providing us with a crucial safeguard against unforeseen challenges. In an unpredictable economic climate, higher reserves enable us to navigate potential funding shortfalls, rising operational costs, and increased demand for our services without compromising our mission. Additionally, maintaining a higher reserve allows us to invest strategically in future initiatives, expand our impact, and respond flexibly to emerging needs within the community. This prudent financial approach ensures that we remain resilient, adaptable, and well-positioned to continue delivering meaningful support to those who rely on us. 

Sweaty Betty have committed to donating £150,000 for 2025 and guaranteed The Foundation will continue to benefit from existing income streams and further fundraising activity. The additional recruitment of a dedicated fundraising manager is anticipated to increase income and provide financial stability. 

The Sweaty Betty Foundation has no tangible fixed assets, notice accounts or investments therefore all assets can be realised immediately. 

The trustees believe that the Foundation is well placed to manage its business risks successfully. The trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

## **Fundraising** 

The Sweaty Betty Foundation engages in public fundraising through Sweaty Betty stores and website and has a commercial participation agreement in place to govern this arrangement. The Foundation also receives funds raised through fundraising activities carried out with Sweaty Betty employees. The Foundation does not use professional fundraisers. 

## **2025 Strategic Plan** 

Our strategy is focused on three priorities that help us go further, reach more girls, and create deeper, lasting impact. We will: 

- **Reinvent** the way sport, movement, and physical activity are offered to girls 

- **Amplify** girls’ voices and leadership 

- **Sustain** our work through bold partnerships and long-term investment 

These pillars are interdependent: Together, they help us shift systems, unlock access, and build a future where girls can be active on their own terms. 

Our strategy is grounded in practical action. Across all priorities, we’ll use tried-and-tested tactics to bring our ambitions to life. These include: 

- **Co-creation with girls** — ensuring young people help design and shape everything we deliver 

- ● **Strategic partnerships** — working with schools, communities, and like-minded organisations who share our goals 

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**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

- **Campaigns that shift culture** — using storytelling and lived experience to challenge stigma and spark action 

- **Data and insight** — learning from what works, listening to feedback, and sharing evidence of impact 

- **Flexible funding pathways** — offering ways for individuals, brands, and funders to support our mission in meaningful ways 

## **Structure, governance and management** 

The Sweaty Betty Foundation is a charitable incorporated organisation registered as a charity on 19 February 2021 in England and Wales. The charity is constituted under a constitution. 

All trustees give their time voluntarily and receive no benefits from the charity. Details of any expenses claimed by trustees are detailed in note 6 of the financial statements. 

The Trustees are supported in the day-to-day management of Sweaty Betty Foundation by the Foundation Director, Afsana Lachaux. The Director is responsible for the effective running of the Foundation by managing relationships with partner organisations. The Director makes grant recommendations to the Trustees in accordance with agreed grant-making policies and an approved scheme of authority. Trustees make decisions about grants at Trustee Meetings which are typically held on a quarterly basis. 

## **Appointment of trustees** 

The Constitution supports a minimum of three Trustees. There is no maximum number of Trustees. Trustees are either nominated or appointed on a need basis. There must always be more appointed trustees than nominated trustees on the board. Apart from the first charity trustees, every appointed charity trustee shall be appointed for a term of up to three years. 

As the sole Member of The Foundation, Sweaty Betty Limited may nominate charity trustees who are members of staff, directors or consultants of a company within the Sweaty Betty Group. Appointed trustees must have no current connection as a staff member, director or consultant of any company within the Sweaty Betty Group and are selected with a due regard to the skills, knowledge and experience needed for the effective management of the charity. 

## **Trustee induction and training** 

New Trustees attend suitable induction and training with the Foundation Director and existing trustees to familiarise themselves with the charity, its governance and the context within which it operates. Trustees are provided with CC3 The Essential Trustee and the Charity Governance Code. Trustee training is also integrated into our Board meetings throughout the year. 

## **Related parties and relationships with other organisations** 

Sweaty Betty Foundation’s sole member is Sweaty Betty Limited.  The Foundation is primarily funded through donations from Sweaty Betty Limited. The Trustees recognise their charitable responsibilities and state formally that the charity's activities will always be consistent with achieving its objects. Any benefit which may accrue to Sweaty Betty Limited from the Foundation's activities will be incidental 

16 



**Sweaty Betty Foundation** 

**Trustees’ annual report** 

## **For the year ended 31 December 2024** 

and outweighed by the contribution to the Foundation's charitable objectives. Please see note 10 for further Related Party transaction details. 

## **Remuneration policy for key management personnel** 

The Foundation Director’s pay and remuneration are set with reference to sector benchmarks and is periodically reviewed against comparable organisations using market data. Pay and benefit changes are approved by the full Trustee Board. The Foundation Director receives ongoing performance management and an annual feedback report which provides feedback from the Trustees and external grant partners. 

## **Statement of responsibilities of the trustees** 

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 activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and: 

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Charities SORP 

- Make judgements and estimates that are reasonable and prudent 

- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation 

The trustees are responsible for keeping proper accounting records that 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. 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 are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

The trustees’ annual report has been approved by the trustees on            23 September 2025 and signed on their behalf by 

Tamara Hill-Norton Chair of Trustees 

17 



**Independent examiner’s report** 

## **To the trustees of** 

## **Sweaty Betty Foundation** 

I report to the trustees on my examination of the accounts of The Sweaty Betty Foundation for the year ended 31 December 2024. 

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to 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 to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed. 

## Responsibilities and basis of report 

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

I report in respect of my examination of the CIO’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 145(5)(b) of the 2011 Act. 

## Independent examiner’s statement 

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

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

- 1 Accounting records were not kept in respect of the CIO as required by section 130 of the Act; or 

- 2 The accounts do not accord with those records; or 

- 3 The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 

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

Signed: Name: Jonathan Coyle Relevant professional qualification or membership of professional bodies (if any): FCA Address: Sayer Vincent LLP, 110 Golden Lane, London, EC1Y 0TG Date: 07 October 2025 

18 



## Sweaty Betty Foundation 

Statement of financial activities (incorporating an income and expenditure account) 

## For the year ended 31 December 2024 

|Unrestricted<br>Note<br>£<br>Income from:<br>Donations<br>2<br>291,968<br>Investments<br>4,694<br>Total income<br>296,662<br>Expenditure on:<br>Raising funds<br>32,555<br>Charitable activities<br>Schools<br>250,093<br>Community<br>(51,893)<br>Digital<br>-<br>Research<br>59,786<br>Total expenditure<br>3<br>290,541<br>5<br>6,121<br>Reconciliation of funds:<br>Total funds brought forward<br>229,442<br>Total funds carried forward<br>235,563<br>Net income/(expenditure) for the<br>year|Unrestricted<br>Note<br>£<br>Income from:<br>Donations<br>2<br>291,968<br>Investments<br>4,694<br>Total income<br>296,662<br>Expenditure on:<br>Raising funds<br>32,555<br>Charitable activities<br>Schools<br>250,093<br>Community<br>(51,893)<br>Digital<br>-<br>Research<br>59,786<br>Total expenditure<br>3<br>290,541<br>5<br>6,121<br>Reconciliation of funds:<br>Total funds brought forward<br>229,442<br>Total funds carried forward<br>235,563<br>Net income/(expenditure) for the<br>year|Restricted<br>£<br>17,900<br>-<br>17,900<br>-<br>17,500<br>-<br>-<br>-<br>17,500<br>400<br>-<br>400|2024<br>2023<br>Total<br>Total<br>£<br>£<br>309,868<br>322,821<br>4,694<br>336<br>314,562<br>323,157<br>32,555<br>48,204<br>267,593<br>70,282<br>(51,893)<br>284,363<br>-<br>13,628<br>59,786<br>24,154<br>308,041<br>440,631<br>6,521<br>(117,474)<br>229,442<br>346,916<br>235,963<br>229,442|
|---|---|---|---|
||296,662|||
||32,555<br>250,093<br>(51,893)<br>-<br>59,786|||
||290,541|||
||6,121<br>229,442|||
||235,563|||



All of the above results are derived from continuing activities. All income and expenditure in 2023 was unrestricted. There were no other recognised gains or losses other than those stated above. Movements in restricted funds can be found in note 13. 

19 



Sweaty Betty Foundation 

## Balance sheet 

## As at 31 December 2024 

|Note<br>£<br>Current assets:<br>10<br>67,052<br>279,535<br>346,587<br>Liabilities:<br>11<br>(110,624)<br>13<br>235,563<br>Total unrestricted funds<br>Restricted income funds<br>Unrestricted income funds:<br>The funds of the charity:<br>Creditors: amounts falling due within one year<br>Total net assets<br>Cash at bank and in hand<br>Debtors<br>General funds<br>Total charity funds|Note<br>£<br>Current assets:<br>10<br>67,052<br>279,535<br>346,587<br>Liabilities:<br>11<br>(110,624)<br>13<br>235,563<br>Total unrestricted funds<br>Restricted income funds<br>Unrestricted income funds:<br>The funds of the charity:<br>Creditors: amounts falling due within one year<br>Total net assets<br>Cash at bank and in hand<br>Debtors<br>General funds<br>Total charity funds|2024<br>£<br>£<br>70,548<br>371,502<br>442,050<br>(212,608)<br>235,963<br>400<br>229,442<br>235,563<br>235,963|2023<br>£|
|---|---|---|---|
||346,587<br>(110,624)|||
||235,563|||
||||229,442|
||||-<br>229,442|
|||||
||||229,442|



Approved by the trustees on 23 September 2025   and signed on their behalf by 

Tamara Hill-Norton Chair of Trustees 

20 



Sweaty Betty Foundation 

## Statement of cash flows 

## For the year ended 31 December 2024 

|Cash flows from operating activities<br>Net income/(expenditure) for the reporting period<br>(as per the statement of financial activities)<br>(Increase)/decrease in debtors<br>Net cash used in operating activities<br>Analysis of cash and cash equivalents<br>Cash at bank and in hand<br>Total cash and cash equivalents<br>Cash and cash equivalents at the end of the year<br>Cash and cash equivalents at the beginning of the year<br>Decrease creditors - amounts falling due after one year<br>Decrease in creditors - amounts falling due within one year|2024<br>£<br>6,521<br>3,496<br>(101,984)<br>-|Cash flows<br>£<br>(91,967)|2023<br>£<br>(117,474)<br>164,412<br>(22,942)<br>(32,360)|
|---|---|---|---|
||(91,967)<br>371,502||(8,364)<br>379,866|
||279,535||371,502|
||At 1<br>January<br>2024<br>£<br>371,502||At 31<br>December<br>2024<br>£<br>279,535|
||371,502|(91,967)|279,535|



21 



Sweaty Betty Foundation 

Notes to the financial statements 

## For the year ended 31 December 2024 

## 1 Accounting policies 

## a) Statutory information 

Sweaty Betty Foundation is a Charitable Incorporated Organisation registered with the Charity Commission for England and Wales. 

The registered office address and principal place of business is: Wolverine Worldwide, Kings Place, 90 York Way, London, N1 9AG. 

## b) Basis of preparation 

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. 

## c) Public benefit entity 

The charity meets the definition of a public benefit entity under FRS 102. 

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 

## d) Going concern 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

## e) Income 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. 

22 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

- 1 Accounting policies (continued) 

- f) Donations of gifts, services and facilities 

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to 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. 

Although the contribution of volunteer time from trustees and employees of the Sweaty Betty Group is valuable to the Foundation this is not recognised in the accounts as a cash value cannot be reliably estimated. 

- g) Interest receivable 

   - Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

- h) Fund accounting 

   - Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. 

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

Designated funds are unrestricted funds earmarked by the trustees for particular 

- i) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

   - Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose 

   - Expenditure on charitable activities includes the costs of providing grants to partners, commissioning research and self-funded initiatives undertaken to further the purposes of the charity and their associated support costs 

   - Other expenditure represents those items not falling into any other heading 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

- j) Grants payable 

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity. 

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. 

23 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

- 1 Accounting policies (continued) 

- k) Allocation of support costs 

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity. 

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure. 

- Schools 74.35% 

- Research 16.61%  Raising funds 9.04% 

## l) Tangible fixed assets 

Items of equipment are capitalised where the purchase price exceeds £1,500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. 

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: 

- Office equipment 

Four years 

## m) Debtors 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

- h d l d h b l h d h d f b 

- n) Cash at bank and in hand 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## o) Creditors and provisions 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

- p) Pensions 

The Foundation does not operate its own pension scheme.  The Foundation contributes on behalf of employees to a defined contribution scheme.  The charge in the statement of financial activities represents the actual amount of the contribution payable to the pension scheme in respect of the accounting year. There is no liablility in excess of this. 

## 2 Income from donations 

|Income from donations||||
|---|---|---|---|
|Donations|Unrestricted<br>£<br>291,968|£<br>17,900<br>Restricted|2024<br>2023<br>Total<br>Total<br>£<br>£<br>309,868<br>322,821<br>309,868<br>322,821|
||291,968|17,900||



There are no resources from donated goods or services that have not been recognised as income. All income from donations in 2023 was unrestricted. 

24 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

## 3a Analysis of expenditure (current year) 

|Staff costs (Note 6)<br>Grants given (Note 4)<br>Project costs<br>Operations<br>Cost of fundraising<br>Support costs<br>Governance costs<br>Total expenditure 2024<br>Total expenditure 2023|Raising<br>funds<br>£<br>20,445<br>-<br>-<br>-<br>6,852||Charitable activities|Charitable activities||Governance<br>costs<br>£<br>-<br>-<br>-<br>5,617<br>-|Support<br>costs<br>£<br>31,494<br>-<br>-<br>21,021<br>-|2024<br>Total<br>£<br>118,514<br>103,065<br>52,972<br>26,638<br>6,852|2023<br>Total<br>£<br>103,716<br>234,480<br>45,955<br>54,487<br>1,993|
|---|---|---|---|---|---|---|---|---|---|
|||Schools<br>£<br>54,417<br>119,958<br>50,000<br>-<br>-|Community<br>(see note)<br>£<br>-<br>(51,893)<br>-<br>-<br>-|Digital<br>£<br>-<br>-<br>-<br>-<br>-|Research<br>£<br>12,158<br>35,000<br>2,972<br>-<br>-|||||
||27,297<br>4,750<br>508|224,375<br>39,042<br>4,176|(51,893)<br>-<br>-|-<br>-<br>-|50,130<br>8,723<br>933|5,617<br>-<br>(5,617)|52,515<br>(52,515)<br>-|308,041<br>-<br>-|440,631<br>-<br>-|
||32,555|267,593|(51,893)|-|59,786|-|-|308,041|440,631|
||48,204|70,282|284,363|13,628|24,154|-|-|||



## Note: 

The Sporting Equals project "Play her Way" finished during the year and unspent funds were returned to the Foundation.  There was no other expenditure on Community in the year. 

25 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

## 3b Analysis of expenditure (prior year) 

|Staff costs (Note 6)<br>Grants given (Note 4)<br>Project costs<br>Operations<br>Cost of fundraising<br>Support costs<br>Governance costs<br>Total expenditure 2023|Raising<br>funds<br>£<br>37,000<br>-<br>-<br>-<br>1,993||Charitable activities|Charitable activities||Governanc<br>e costs<br>£<br>-<br>-<br>-<br>4,800<br>-|Support<br>costs<br>£<br>29,716<br>-<br>-<br>49,687<br>-|2023<br>Total<br>£<br>103,716<br>234,480<br>45,955<br>54,487<br>1,993|
|---|---|---|---|---|---|---|---|---|
|||Schools<br>£<br>5,246<br>37,800<br>13,805<br>-<br>-|Community<br>£<br>28,030<br>196,680<br>5,312<br>-<br>-|Digital<br>£<br>1,343<br>-<br>9,681<br>-<br>-|Research<br>£<br>2,381<br>-<br>17,157<br>-<br>-||||
||38,993<br>8,686<br>525|56,851<br>12,665<br>766|230,022<br>51,243<br>3,098|11,024<br>2,456<br>148|19,538<br>4,353<br>263|4,800<br>-<br>(4,800)|79,403<br>(79,403)<br>-|440,631<br>-<br>-|
||48,204|70,282|284,363|13,628|24,154|-|-|440,631|



26 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

- 4a Grants given (current year) 

|Grants given (current year)||
|---|---|
|Causeway Education<br>Ark Academy<br>Our Parks<br>Teach First<br>Women in Sport<br>Schools<br>Community<br>Completion of phase 3 of the Play her Way campaign to support<br>grassroots organisations to improve the experiences and life<br>opportunities of young ethnically diverse girls across Greater<br>Manchester and build on the work already started in Phases 1 & 2.<br>The final year focused on content creation for social media platforms<br>and engagement with parents.<br>Unspent funds were returned to the Foundation at the end of the<br>project, which has resulted in negative expenditure for the year.<br>Produce a ‘State of Play’ research which will update the evidence base<br>on teenage girls in sport to inspire and steer the Sweaty Betty<br>Foundation and wider sector. Develop an impact and evaluation<br>framework and additonal resources to steer positive change for<br>teenage girls.<br>Research<br>The Active Relatable Role Model Project aims to inspire the least active<br>girls across schools in London through inspirational mentoring and<br>messaging. Volunteer role models are trained and supported to<br>deliver one off mentoring sessions to schools.<br>The Project will enable Ark Schools to develop sustained and<br>progressive girls only provision across four secondary schools in<br>Birmingham.  This offers the least active girls a range of free, open-<br>access extra-curricular clubs and teams in school,  mentoring,<br>training and kit provision.<br>Proof of concept test and learn pilot for a mother and daughters<br>programme in South London (restricted funding) based on the Our<br>Parks Coach Parker training programme model.<br>Pilot a series of period education workshops in partnership with<br>selected schools across the North West region. The pilot programme<br>will provide the Foundation with valuable insight on how to improve<br>education and awareness of the menstrual cycle and its impact on<br>physical activity for teenage girls.<br>Sporting Equals|2024<br>£<br>37,458<br>22,500<br>10,000<br>50,000<br>(51,893)<br>35,000|
||103,065|



27 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

- 4b Grants given (prior year) 

|4b<br>Grants given (prior year)||
|---|---|
|Greenhouse Sports<br>Sporting Equals<br>Girls on the Pitch<br>London Sport<br>Access Sport CIO<br>Make Space for Girls<br>Friends of Rowntree Park<br>Scottish Sport Futures<br>5<br>2024<br>£<br>4,200<br>Net income/(expenditure) for the year<br>Independent Examiner's Fee  (excluding VAT):<br>This is stated after charging / (crediting):<br>Independent Examination<br>Schools<br>Community<br>All grants were awarded to institutions.<br>Support for Women and Girls in Sport Week 2023, a multi-sport event<br>with activities to celebrate female participation.<br>Funded equipment for older girls to enable them to have a safe space<br>for play.<br>The GameChangeHERS initiative to increase girls' participation in<br>school co-curricular sports clubs.<br>Phase three of the project in Manchester supporting grassroots<br>organisations to deliver the 'Play her Way' campaign to amplify girls'<br>voices.<br>Five grants to small community organisations for girl-led projects to<br>get more girls active.  The highest value grant was £3,000. GoP grants<br>were awarded to: This Girl Can Leeds, Milk Honey Bees, Scottish<br>Sports Futures, Youth Excellence Academy and Muslimah Sports<br>Association.<br>Dance project to support teenage girls to start culturally specific<br>dance activities in East London.<br>Empowering Disabled Teenage Girls Research Project in partnership<br>with Women in Sport and Nuffield Health.<br>Parkwatch, a citizen led research project aimed at increasing the<br>awareness of the lack of facilities for teenage girls in parks.|2023<br>£<br>37,800<br>130,000<br>10,460<br>20,000<br>22,000<br>8,420<br>5,000<br>800|
||234,480|
||2023<br>£<br>4,000|



28 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

- 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel 

Staff costs were as follows: 

|Staff costs were as follows:|||
|---|---|---|
|Social security costs<br>Employer’s contribution to defined contribution pension schemes<br>Salaries and wages|2024<br>£<br>108,543<br>5,733<br>4,238|2023<br>£<br>96,798<br>3,635<br>3,283|
||118,514|103,716|



The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between: 

|||2024|2023|
|---|---|---|---|
|||No.|No.|
|£60,000|- £69,999|-|1|
|£70,000|- £79,999|1|-|



The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £81,407 (2023: £66,940). 

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil). 

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling £1,475 (2023: £1,034)  incurred by 5 (2023: 1) members relating to attendance at meetings of the trustees. 

## 7 Staff numbers 

The average number of employees (head count based on number of staff employed) during the year was 2 (2023: 2). 

## 8 Related party transactions 

|Name of related party|Relationship to the|Description of the|2024|2023|
|---|---|---|---|---|
||Foundation|transaction|||
||||£|£|
|Sweaty Betty Limited|Organisation which|Donation|202,847|278,834|
||provides funding and||||
||other support.  Of this,||||
||£62,042 is unpaid at year-||||
||end.||||



29 



Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

## 9 Taxation 

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

|10<br>Trade debtors<br>Other debtors<br>Prepayments<br>Debtors<br>Amounts due from related parties|2024<br>£<br>-<br>4,296<br>62,042<br>714|2023<br>£<br>1,250<br>4,728<br>64,382<br>188|
|---|---|---|
||67,052|70,548|



## 11 Creditors: amounts falling due within one year 

|Creditors: amounts falling due within one year|||
|---|---|---|
|Other creditors<br>Taxation and social security<br>Grants payable<br>Accruals<br>Trade creditors|2024<br>£<br>495<br>2,643<br>99,500<br>1,986<br>6,000|2023<br>£<br>-<br>3,535<br>200,160<br>1,666<br>7,247|
||110,624|212,608|



## 12a Analysis of net assets between funds (current year) 

|Net current assets<br>Net assets at 31 December 2023<br>Net current assets<br>Net assets at 31 December 2024<br>Analysis of net assets between funds (prior year)|Unrestricted<br>£<br>235,563|Restricted<br>£<br>400|Total funds<br>£<br>235,963|
|---|---|---|---|
||235,563|400|235,963|
||Unrestricted<br>£<br>229,442|Restricted<br>£<br>-|Total funds<br>£<br>229,442|
||229,442|-|229,442|



12b Analysis of net assets between funds (prior year) 

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Sweaty Betty Foundation 

## Notes to the financial statements 

## For the year ended 31 December 2024 

## 13a Movements in funds (current year) 

|Movements in funds (current year)|||||
|---|---|---|---|---|
|Total restricted funds<br>General funds<br>General funds<br>Total funds<br>Restricted funds:<br>Jemma Bailey, the Buchanan Programme<br>Movements in funds (prior year)<br>Unrestricted funds:<br>Total funds<br>Total unrestricted funds<br>Scott and Clare Mackin|At 1 January<br>2024<br>£<br>-<br>-|Income &<br>gains<br>£<br>10,400<br>7,500|Expenditure<br>& losses<br>£<br>(10,000)<br>(7,500)|At 31<br>December<br>2024<br>£<br>400<br>-|
||-|17,900|(17,500)|400|
||229,442|296,662|(290,541)|235,563|
||229,442|296,662|(290,541)|235,563|
||229,442|314,562|(308,041)|235,963|
||At 1 January<br>2023<br>£<br>346,916|Income &<br>gains<br>£<br>323,157|Expenditure<br>& losses<br>£<br>(440,631)|At 31<br>December<br>2023<br>£<br>229,442|
||346,916|323,157|(440,631)|229,442|



## 13b Movements in funds (prior year) 

## Purposes of restricted funds 

Jemma Bailey, the Buchanan Programme - to empower women to be active within their communities especially involving outdoor pursuits and/or with their children in South East London. 

Scott and Clare Mackin - Towards the cost of recruiting and training 5-8 role models as part of the School Mentorship Programme, in furtherance of the charitable purposes to empower women and girls to get active in schools, communities and online 

## 14 Legal status of the charity 

The charity is a Charitable Incorporated Organisation and has no share capital. 

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