REGISTERED CHARITY NUMBER: 1197862
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
FOR
IN2SPORTS CHARITABLE TRUST
Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
IN2SPORTS CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
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Report of the Trustees |
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Independent Examiner's Report |
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Statement of Financial Activities |
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4 |
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Balance Sheet |
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Notes to the Financial Statements |
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IN2SPORTS CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended29February2024. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objects of the CIO are, for the public benefit -
(a)thepromotionofcommunityparticipationinhealthyrecreation,inparticularbytheprovisionoffacilitiesfor the
playing of a range of sports including cricket, football, netball, hockey and volleyball;
(b)theprovisionoffacilitiesforrecreationorotherleisuretimeoccupationfor:i)individualswhohaveneedof such
facilitiesbyreasonoftheiryouth,age,infirmityordisablement,financialhardshiporsocialandeconomic circumstances,
or ii) the public at large, in the interests of social welfare and with the object of improving their conditions of life.
Significant activities
Theprovisionofawidevarietyofsportsandleisureopportunitiesrangingfromcricket,football,volleyball, handball,
badminton, dodgeball, a range of martial arts, gym exercise, community workshops.
Public benefit
Thetrusteesconfirmthattheyhavereceivedandreadtheguidanceinrelationtothepublicbenefitofthe charity's
activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
AsaSportsEnglandsportshall,theCharityhascontributedtoahealthiercommunityandimprovingpeople's life
conditionsbydeliveringawidevarietyofsportsandleisureopportunitiesinastructuredenvironment.Beneficiaries use
the environment to train, complete, and socialise by promoting sports from entry level through to the professional stage.
Deliveringsportsandleisureopportunitiesinaccordancewithourcontractualobligationsandaccessstrategyplan we
have achieved our year one key performance targets. Both financial, and participation targets been reached.
FINANCIAL REVIEW
Financial position
The Charity has a recorded surplus for the year of £3,593.
Principal funding sources
Remunerationfromthesaleofsportsandleisureactivitiessuchasvolleyball,cricket,football,netball,handballand gym
exercise for the community benefit.
Investment policy and objectives
TomaintaintheCharity'scontractualobligations,accessstrategyplanandtoensurethattheCharityisadheringto it's
Governing documents and inclusion policies.
Reserves policy
Any reserves are to be re-invested into the charity for product and service development.
Year 1 deficit due to infrastructure set up costs and expenses.
Going concern
Nouncertaintiesinrelationtothecharitycontinuingasagoingconcern.TheCharityisinasecurepositiontocontinue to
deliver in accordance with its objectives.
Funds in deficit
Repayment of set up and infrastructure costs.
Principal risks facing the charity
Changingtrendsanddemandsofbeneficiaries.Seasonalchangestosportsandleisureprogrammes.Risingcosts of
operational overheads.
Page 1
IN2SPORTS CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
In2sports Charitable Trust is constituted as a Charitable Incorporated Organisation and operates under a constitution.
Organisational structure
TheCharityisGovernedbytheTrustees.Operationalstaffareappointedtoachievedeliverablessetoutby our
constitution,accessstrategyandkeyperformancetargets.TheCharityworkswithwiderangingbeneficiariesand local
organisationsandsportsclubsprovidingavehicleforpartnersandstakeholderstoachievetheirgoalsforthebenefit of
the community.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1197862
Principal address
In2Sports
40 Harbord Square
London
E14 9QH
Trustees
C R S Wear
S D L Trujillo
Z H Khan
Independent Examiner
Mr S Rosling FCCA
Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
Approved by order of the board of trustees on 4 March 2025 and signed on its behalf by:
C R S Wear - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
IN2SPORTS CHARITABLE TRUST
Independent examiner's report to the trustees of In2sports Charitable Trust
IreporttothecharitytrusteesonmyexaminationoftheaccountsofIn2sportsCharitableTrust(theTrust)forthe year
ended 29 February 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarrying out
myexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr S Rosling FCCA
Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
4 March 2025
Page 3
IN2SPORTS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024
Year Ended
29.2.24
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities
189,314
Other income
50
Total
189,364
EXPENDITURE ON
Charitable activities
Charitable activities
179,753
Other
6,018
Total
185,771
NET INCOME/(EXPENDITURE)
3,593
RECONCILIATION OF FUNDS
Total funds brought forward
(156,293)
TOTAL FUNDS CARRIED FORWARD
(152,700) |
Period
10.2.22
to
28.2.23
Total
funds
£
67,205
50
67,255
214,398
9,150
223,548
(156,293)
-
(156,293) |
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The notes form part of these financial statements
Page 4
IN2SPORTS CHARITABLE TRUST
BALANCE SHEET 29 FEBRUARY 2024
29.2.24
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
1,340
CURRENT ASSETS
Debtors
8
900
Cash at bank
18,504
19,404
CREDITORS
Amounts falling due within one year
9
(173,444)
NET CURRENT ASSETS/(LIABILITIES)
(154,040)
TOTAL ASSETS LESS CURRENT LIABILITIES
(152,700)
NET ASSETS/(LIABILITIES)
(152,700)
FUNDS
10
Unrestricted funds
(152,700)
TOTAL FUNDS
(152,700) |
28.2.23
Total
funds
£
-
28,317
-
28,317
(184,610)
(156,293)
(156,293)
(156,293)
(156,293)
(156,293) |
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ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon4March2025and were
signed on its behalf by:
C R S Wear - Trustee
The notes form part of these financial statements
Page 5
IN2SPORTS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
1. STATUTORY INFORMATION
In2SportsCharitableTrustisacharitableincorporatedorganisation,registeredinEnglandandWales. The
charity's registered number and principle address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Charities
Act 2011. The financial statements have been prepared under the historical cost convention.
Asatthebalancesheetdatethecharitywasinsolventhavingexperiencedalargedeficitduringits first
accounting period.
Theamountsincludedinothercreditorswererepayablewhenthecharitywasabletomeetthesedemands, these
have been repaid since the end of the accounting period.
TheTrustees'havenomaterialuncertaintiesinrelationtotheabilityofthecharitytocontinueasa going
concern, these financial statements have therefore been prepared on the going concern basis.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
Fixtures and fittings
- 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightline basis
over the period of the lease.
continued...
Page 6
IN2SPORTS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024
3. INDEPENDENT EXAMINERS' REMUNERATION
|
28.2.24 |
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£ |
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Fees payable to the charity's independent examiners for the independent examination of the
charity's financial statements |
2,160 |
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2,160 |
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4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended29February2024norforthe period
ended 28 February 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended29February2024norfortheperiod ended
28 February 2023.
5. STAFF COSTS
6.
STAFF COSTS |
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Period |
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10.2.22 |
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Year Ended |
to |
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29.2.24 |
28.2.23 |
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£ |
£ |
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Wages and salaries |
86,437 |
17,041 |
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Social security costs |
13 |
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- |
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86,450 |
17,041 |
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The average monthly number of employees during the year was as follows: |
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Period |
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10.2.22 |
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Year Ended |
to |
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29.2.24 |
28.2.23 |
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Charitable activities |
6 |
1 |
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No employees received emoluments in excess of £60,000. |
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COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted |
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fund |
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£ |
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INCOME AND ENDOWMENTS FROM |
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Charitable activities |
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Charitable activities |
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67,205 |
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Other income |
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50 |
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Total |
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67,255 |
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EXPENDITURE ON |
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Charitable activities |
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Charitable activities |
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214,398 |
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Other |
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9,150 |
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Total |
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223,548 |
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continued...
Page 7
IN2SPORTS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
NET INCOME/(EXPENDITURE)
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
Additions
NET BOOK VALUE
At 29 February 2024
At 28 February 2023
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors
10.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.3.23
£
(156,293)
(156,293) |
Unrestricted
fund
£
(156,293)
(156,293)
Fixtures
and
fittings
£
1,340
1,340
-
29.2.24
28.2.23
£
£
900
2,153
-
26,164
900
28,317
29.2.24
28.2.23
£
£
678
255
172,766
184,355
173,444
184,610
Net
movement
At
in funds
29.2.24
£
£
3,593
(152,700)
3,593
(152,700) |
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continued...
Page 8
IN2SPORTS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
189,364
189,364 |
Resources
Movement
expended
in funds
£
£
(185,771)
3,593
(185,771)
3,593 |
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
in funds
£
(156,293)
(156,293) |
At
28.2.23
£
(156,293)
(156,293) |
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Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
67,255
67,255 |
Resources
Movement
expended
in funds
£
£
(223,548)
(156,293)
(223,548)
(156,293) |
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11. RELATED PARTY DISCLOSURES
Asatthebalancesheetdate,Trustee;MrCWearwasowed£49,205(2023:£73,278)bythecharityinrelation to
expenditure paid on behalf of the charity. This is included within other creditors.
Asatthebalancesheetdate,WoodWharfSportsLtdwasowed£34,037fromthecharity.Thisisinrelation to
transactionsundertakenonbehalfofthecharity.Trustee;MrCWearisadirectorandshareholderof Wood
Wharf Sports Ltd. This is included within other creditors.
12. GOING CONCERN
Asatthebalancesheetdatethecharitywasinsolventhavingexperiencedalargedeficitduringits first
accounting period.
The amounts included in other creditors were repayable when the charity was able to meet these demands.
TheTrustees'havenomaterialuncertaintiesinrelationtotheabilityofthecharitytocontinueasa going
concern, these financial statements have therefore been prepared on the going concern basis.
Page 9