# **MOMENTUM IN FITNESS CHARITY NUMBER: 1202050** **REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023** **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** The Trustees present their report and the accounts of the Charity for the period ended 31st December 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). ## **REFERENCE AND ADMINISTRATIVE DETAILS** **NAME:** Momentum in Fitness **REGISTRATION NUMBER** : 1202050 **ADDRESS:** ## **TRUSTEES** Unit 3b Barton Park Industrial Estate Chickenhall Lane Eastleigh SO50 6RR Ross Walters _(Chair)_ Ruth Andrew Penelope Watson Georgina Salmon _(Treasurer)_ Rebecca Band ## **INDEPENDENT EXAMINER** Chris Goodhead Knight Goodhead Limited 7 Bournemouth Road Chandlers Ford SO53 3DA 1 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** ## **CHARITY STRUCTURE, GOVERNANCE AND MANAGEMENT** Momentum in Fitness is a Charitable Incorporated Organisation (CIO), governed according to the Constitution dated December 2022. Momentum in Fitness works to provide and facilitate accessible fitness sessions for local people across Hampshire. We aim to break down and overcome the barriers which prevent some individuals and groups in our community from being physically active. Our work supports everyone to experience the wide range of benefits from participating in exercise. ## **Trustees** The Board of Trustees (“the Board”) is responsible for the overall governance of Momentum in Fitness. The number of trustees cannot be fewer than three, or more than seven. New trustees can be appointed by a resolution passed at a meeting of charity trustees. New trustees must be appointed for a term of three years. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The Board meets regularly throughout the year and all trustees give their time freely and no trustee remuneration is paid. Overall responsibility for the management of the charity is vested in the Trustees. The charity is managed on an operational basis by the appointed CEO, Charles Balchin and COO, Amy Johnson-Mayes. ## **OBJECTIVES AND ACTIVITIES** Momentum in Fitness was established in 2023 to provide accessible fitness sessions for disadvantaged and vulnerable people. Our Constitution states: Momentum in Fitness exists for the relief of those in need in Southampton and the surrounding areas who are experiencing financial and socio-economic disadvantage, through the provision of free physical fitness facilities and training. 2 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** The main activities undertaken by Momentum in Fitness is the provision and facilitation of tailored exercise sessions for various groups and individuals within our local community. We also endeavor to provide advice, guidance and support where possible and appropriate to help people get more active and participate in physical activity. ## **Public Benefit** The Trustees have paid due regard to the Charity Commission guidance on public benefit. Our activities are carried out for the benefit of the public and decisions are made with due regard to any risks to beneficiaries and/or the public, alongside ensuring that any activities carried out are consistent with our purpose. ## **ACHIEVEMENTS AND PERFORMANCE** Momentum in Fitness’ first year as a registered charity has been one of great achievement, with steady progress across three key project areas. As the charity is in a unique position to have the potential and opportunity to work with and make a difference to many groups and individuals across the local community in Hampshire, three key project areas were established soon after the charity’s inception - as a new, growing charity, this helps us to ensure that any time, resource and funding can be focused appropriately and the services provided are as impactful as possible. ## **Project:Teens** One of our first projects which has been running since June 2023, is Project:Teens, in which we provide a one hour weekly functional fitness session for a group of up to twelve school students with SEMH (Social, Emotional and Mental Health) needs. All the students have Health Care Plans in place and many of them have a range of additional needs, which can mean they face challenges or difficulty participating in traditional team sports or exercise. By running a tailored exercise session based around weight training and functional fitness, we are supporting the students to learn new skills and fundamentally, providing them an opportunity to exercise at least once a week. The session is facilitated during school hours, but outside of the school environment, with the aim of enriching the standard curriculum and giving the students an opportunity to do something practical outside of the classroom. Since running this session, we have seen improvements in the 3 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** students' confidence, fitness and motivation to participate and we have had really positive feedback from the students and staff who attend. We intend to continue running this project until the end of the current academic year, with the hope to continue this from September 2024 should we be in a financial position which allows us to do so. ## **Project:Piam Brown** Another of our key projects, currently in a Pilot phase (as we are awaiting funding), is the provision of exercise therapy to patients on the Piam Brown children’s ward at Southampton General Hospital. In winter 2023, we began working with the Consultant Oncologist and physiotherapist on the ward to scope and identify opportunities for both inpatients and outpatients to participate in physical activity on the ward. By December 2023, two exercise therapists appointed by the charity, met with and shadowed the consultant and physiotherapist on the ward in preparation to begin delivery of exercise sessions. All mandatory NHS on-boarding and access requirements were completed and in January 2024, exercise sessions commenced on the ward with inpatients. The exercise therapists currently visit the ward on a weekly basis, for two hours, delivering individualised sessions which are tailored to reflect the children’s interests and capabilities and support their wider recovery. During their weekly visits, the therapists can see between two to five children. Since the start of this project, we have had incredibly positive feedback from the patients, as well as their parents and families and also from the staff on the ward. Our work is complementary to the medical care which the patients receive from the NHS. We are helping to encourage patients to be active, which in turn supports both their physical and psychological well-being. We hope to continue and potentially expand this service if we receive appropriate funding. ## **Project:Fit For Life** Our third project which has not yet reached the delivery stage, is focused on supporting older adults (aged 55 and over) to become more active. As part of the scoping for this project, we reached out to a local community centre within the Eastleigh area to find out what exercise options are already on offer for older adults and discuss options for delivering a session on site. We have also connected with One Community, a local charity which provides a fundamental transport service for many older people in the local community, and a team of Social 4 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** Prescribers which are linked to local GP practices. A huge achievement for us was receiving a grant of £18,720 from the National Lottery Community Fund which will contribute as part-funding for this important project and enable us to begin delivery in early Spring 2024. Through this project, we hope to support older adults who may not otherwise feel confident or able to participate in mainstream fitness classes and also potentially reduce the risk of social isolation within this population. ## **FINANCIAL REVIEW** ## **Reserves** A summary of the adopted reserves policy is: Momentum in Fitness currently has annual income, excluding gifted gym space, from fundraising of under £30,000. Annual expenditure does not exceed income. The Charity's reserve policy is to aim to hold four to six months of planned expenditure as reserves to ensure continued financial security and to provide for contingencies (within 2 years from adoption of this policy in September 2023). Momentum in Fitness has approximately £5,800 of free reserves. These are held as short term reserves, to meet unanticipated cash flow needs. Any long term reserves generated shall be invested to grow at least in line with inflation, the short term reserves should be invested emphasising certainty of value. The Board of Momentum in Fitness has delegated investment decisions to the Treasurer. Momentum in fitness still had an outstanding loan to aid in the startup of the charity from A&A Fitness limited of £2500. The charity is in discussion with A&A Fitness to have the loan written off as a gesture of goodwill. A&A Fitness continues to be a valued partner of Momentum in Fitness and currently gift rental of the gym facility, office and storage worth the equivalent of £1000 per month. 5 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** ## **Income** ## _**Grants**_ During our first year we received 2x £2500 unrestricted grants from 2 local businesses. Since Autumn 2023, we have been working with a highly experienced grants and trusts fundraiser to support us to identify and prioritise grant income, alongside supporting application submissions. Our aim is to grow our unrestricted income to support delivery and sustainability of the charity's objectives over the next financial year. ## _**Community event fundraising**_ We held our first community fundraising event in October 2023, which was a 24-hour fitness challenge with over 100 attendees and supporters. The event raised over £3000 in total, mostly from sponsorship donations and a raffle. We were also fortunate enough to be the beneficiary of funds raised from spectator tickets for 2 A&A Fitness Limited (CrossFit Southampton) events, which totalled over £1000. We have 3 large scale fundraising events planned for our next financial year, including a skydive, cycle ride and a world record breaking 1 million meter row attempt. ## _**Expenditure**_ During our first year, we’ve kept expenditure to an absolute minimum. In September 2023 when our first pilot project officially started, we were able to begin paying one of our self-employed coaches who facilitate and deliver our exercise sessions. We also pay our fundraiser on the same self-employed basis for their hours. In September 2023, the charity was also able to begin paying the CEO and COO on a self-employed basis for half a day per week each to ensure oversight of all administrative and operational tasks can be maintained. Staff costs are the main expenditure for the charity at present. 6 **MOMENTUM IN FITNESS** ## **TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023** ## **THE FUTURE** We are immensely proud of how far the charity has come in its first year and the support we have received has been nothing short of amazing. Our hope is that we can continue building upon the foundations of the charity over the next 12 months and get to a more financially secure position to ensure we can sustain our future. This will ultimately enable us to fulfill our objectives, maintain and grow our existing projects and allow more people in our community the opportunity to experience the endless and potentially life-changing benefits which come from participating in exercise and physical activity. **This report was approved by the board of Trustees on and signed on their behalf by:** Mr Ross Walters **(Chair of Trustees)** 7 ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF MOMENTUM IN FITNESS** ## **Opinion** I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 December 2023 which are set out on pages 9 to 14. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** 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: - accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - the accounts do not accord with those records; or - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 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. **CJ GOODHEAD FCA** Knight Goodhead Limited Chartered Accountants 7 Bournemouth Road Chandler's Ford, Eastleigh Hampshire SO53 3DA 8 ## **MOMENTUM IN FITNESS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2023** |Notes
INCOME
Charitable donations and grants
3
**TOTAL INCOME**
Charitable activities
4
**TOTAL EXPENDITURE**
**NET INCOME**
**FUND BALANCE AT 31 DECEMBER 2023**
7|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2023**
£
£
£
15,462
18,720
34,182
15,462
18,720
34,182
9,619
-
9,619
9,619
-
9,619
5,843
18,720
24,563
5,843
18,720
24,563| |---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. 9 ## **MOMENTUM IN FITNESS** ## **BALANCE SHEET AT 31 DECEMBER 2023** |Notes
CURRENT ASSETS
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
6
NET ASSETS
FUNDS
Restricted fund
7
General fund
7
TOTAL FUNDS
Approved by the board of trustees on
and signed on its behalf by:|**2023**
£
£
27,933
(3,370)
24,563
24,563
18,720
5,843
24,563
24,563| |---|---| 10 ## **MOMENTUM IN FITNESS** ## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023** ## 1 ACCOUNTING POLICIES ## a) Accounting convention The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable for charities preparing their accounts in according with FRS 102. The charity meets the definition of the public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy below. The accounts have been prepared on the going concern basis. ## b) Income All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. Donations and legacies are received by way of grants, donations, and gifts, and is included in full in the Statement of Financial Activities when receivable. ## c) Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. It includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. ## d) Fund accounting Funds held by the charity are either: Unrestricted general funds Funds which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds Funds which are set aside for specific purposes by the trustees to be used in accordance with the charitable objects. Restricted funds Funds that 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 purpose. 11 ## **MOMENTUM IN FITNESS** ## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 (continued)** e) Basic Financial Instruments The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash at bank and creditors. These basic financial instruments are measured at transaction price. Financial assets and liabilities classified as due within one year are not amortised. - 2 LEGAL STATUS The charity is an Charitable incorporated organisation and registered with the Charity Commission in England and Wales on 22 February 2023. The charity is a public benefit entity. 12 ## **MOMENTUM IN FITNESS** ## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 (continued)** |3
INCOME
**Donations & Grants**
Gifts and donations
Donated Gym space
National Lottery grant
4
CHARITABLE ACTIVITIES EXPENDITURE
Consultancy fees
Event costs
Accountancy
Uniform
Computer/software expenses
Gym space
**Total expenditure**|**Restricted Unrestricted**
**Total**
**funds**
**funds**
**2023**
£
£
£
-
9,462
9,462
-
6,000
6,000
18,720
-
18,720
18,720
15,462
34,182
**Restricted Unrestricted**
**Total**
**funds**
**funds**
**2023**
£
£
£
-
1,660
1,660
-
38
38
-
870
870
-
1,033
1,033
-
18
18
-
6,000
6,000
-
9,619
9,619| |---|---| Included within accountancy is £870 payable to the independent examiners. ## 5 STAFF AND RELATED PARTY TRANSACTIONS The charity has no employees. No trustees received any remuneration or reimbursement of expenditure during the period. During the period Charles Balchin (CEO) and Amy Johnson (COO) each received £325 for consultancy services. |6
CREDITORS: amounts falling due within one year
Accruals
Loan|**2023**
£
870
2,500
3,370| |---|---| 13 ## **MOMENTUM IN FITNESS** ## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 (continued)** |7
FUNDS
Restricted fund
Fit For Life
Unrestricted fund
General fund|**At beginning**
**At end**
**of year**
**Income**
**Expenditure**
**losses**
**of year**
£
£
£
£
£
-
18,720
-
-
18,720
-
18,720
-
-
18,720
-
15,462
(9,619)
-
5,843
-
34,182
(9,619)
-
24,563| |---|---| ## **Fit For Life** Focusing on supporting older adults to become more active. At the balance sheet date this project has not yet reached the delivery stage. Funded by a National Lottery grant. - 8 ANALYSIS OF NET ASSETS BETWEEN FUNDS |_31 December 2023_
Current assets
Current liabilities|**Restricted Unrestricted**
**2023**
**funds**
**funds**
**Total**
£
£
£
18,720
9,213
27,933
-
(3,370)
(3,370)
18,720
5,843
24,563| |---|---| 14