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2025-03-31-accounts

Company registration number: 1205786 Charity registration number: 1205786

SWEETSCIENCE FOUNDATION

(A company limited by share capital)

Annual Report and Financial Statements

for the period from 17 November 2023 to 31 March 2025

SWEETSCIENCE FOUNDATION

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Independent Auditors' Report 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Statement of Cash Flows 11
Notes to the Financial Statements 12 to 17

SWEETSCIENCE FOUNDATION

Reference and Administrative Details

Chairman Mr Lee Arnold Governor Mr Liam Halpin Mr William Warren Julia Callaghan Charity Registration Number 1205786 Registered Office 25 DANEMEAD GROVE NORTHOLT UB5 4NX Independent Examiner Langley Business Services Ltd 1 Colt Mews Enfield EN3 6YH

Page 1

SWEETSCIENCE FOUNDATION

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the period ended 31 March 2025.

Objectives and activities

Objects and aims

Summary of the purposes of the charity as set out in its governing document

The promotion of community participation in healthy recreation for the benefit of the children and young people of London and the surrounding areas by the provision of facilities for amateur boxing, in particular but not exclusively using boxing and its ethos, training and techniques as a means of improving physical and mental health and fitness and encouraging children and young people to make healthy life choices.

To advance in life and help children and young people through:

(a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals .

Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.

Delivery of Non-Contact Boxing and Mentoring sessions and programmes focused on supporting children and young people.

Supporting Educational provisions, Local Government as well as the local community with managing children and young people behaviour and re-engaging them into society.

Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit

All members of the Sweet Science Foundation’s Trustees’ Board have read the guidance issued by the Charity Commission on public benefit

Policy on grant making

We are currently in the process of reviewing our policy on grant making and developing grant making plan for 2025-26

Policy on social investment including program related investment

We are currently in the process of reviewing our policy on social investment including program related investment and in the process developing plans 2025-26

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SWEETSCIENCE FOUNDATION

Trustees' Report

Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.

Delivery of Non-Contact Boxing and Mentoring sessions and programmes focused on supporting children and young people.

Supporting Educational provisions, Local Government as well as the local community with managing children and young people behaviour and re-engaging them into society.

Fundraising disclosures

Public benefit

Activities undertaken to further public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Social investment policies

We are currently in the process of reviewing our policy on social investment including program related investment and, in the process, developing plans 2025-26

Use of volunteers

Over the past 12 months we have benefited from approx. 750 hours (on average 14h per week) of contribution offered by volunteers (excluding contribution made by the Trustee volunteers)

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Mr Liam Halpin Mr William Warren Julia Callaghan

Chairman: Mr Lee Arnold

Structure, governance and management

Nature of governing document

Constitution

Charitable Incorporated Organisation

Page 3

SWEETSCIENCE FOUNDATION

Trustees' Report

Recruitment and appointment of trustees

All members of the Sweet Science Foundation Trustees’ Board are required to have Enhanced DBS Check and minimum Level 1 of Safeguarding Children Training. Additional trainings related to organisations functioning of the Sweet Science Foundation including financial stability are offered to Trustees based on individual learning needs and roles.

Induction and training of trustees

Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees

must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Organisational structure

As a registered charity, Sweet Science Foundation thrives to work with other non-for-profit organisations as well as local community, local and general Government and National Health Service.

Major risks and management of those risks

Risk facing the Charity

The principal risk facing the charity

2.Complexity and lack of unity in terms of financial systems used by the partner organisations.

3.Lack of engagement by the beneficiaries.

Risk management: Members of the Trustee Board safeguard the charity's assets, finances, and reputation and support the delivery of the charities mission and objectives. They also ensure that we remain compliant on all legal, financial, safeguarding and regulatory requirements. Continuous process of risk assessment and risk management that we have adopted since the formation of the charity enables us to maintain good position in terms of sustainability. In order to appropriately manage the risks that charity faces at any one time we have established robust systems and procedures (including financial). We focus on revenue generation through increased activities for sponsorship, donations and grant applications and make sure that the funds received are being spent in the right areas ensuring that a robust

framework is in place to verify the expenditure. Evaluation of the risks is always considered for any financial transaction, policy and procedure and we continue to review those as appropriate ensuring priority is given to the matters of governance, strategy and employment with guidance from professionals when required. Our Trustees maintain a close examination on the incoming revenue and outgoings of the charity and will work to mitigate any risks as they are presented.

Statement of trustees' responsibilities

The trustees (who are also the directors of SWEETSCIENCE FOUNDATION for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial period. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Page 4

SWEETSCIENCE FOUNDATION

Trustees' Report

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 13 January 2025 and signed on its behalf by:

......................................... Mr Lee Arnold Chairman

Page 5

SWEETSCIENCE FOUNDATION

Independent Auditor's Report to the Members of SWEETSCIENCE FOUNDATION

Opinion

We have audited the financial statements of SWEETSCIENCE FOUNDATION (the 'charity') for the period from 17 November 2023 to 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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SWEETSCIENCE FOUNDATION

Independent Auditor's Report to the Members of SWEETSCIENCE FOUNDATION

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities (set out on page 4 and 5), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Page 7

SWEETSCIENCE FOUNDATION

Independent Auditor's Report to the Members of SWEETSCIENCE FOUNDATION

...................................... (Senior Statutory Auditor) For and on behalf of Langley Business Services Ltd , Statutory Auditor 1 Colt Mews Enfield EN3 6YH

13 January 2025

Page 8

SWEETSCIENCE FOUNDATION

Statement of Financial Activities for the Period from 17 November 2023 to 31 March 2025

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds carried forward
Income and Endowments from:
Expenditure on:
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds carried forward		 Unrestricted
funds
£
(18)
54,007
47,384
101,373
(83,728)
(4,764)
(88,492)
12,881
12,881
12,881
Note		 Total
2025
£
(18)
54,007
47,384
101,373
(83,728)
(4,764)
(88,492)
12,881
12,881
12,881
Total
2023
£
-
-
-

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note .

The notes on pages 12 to 17 form an integral part of these financial statements. Page 9

SWEETSCIENCE FOUNDATION

(Registration number: 1205786) Balance Sheet as at 31 March 2025

Note
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: Amounts falling due within one year
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds		 2025
£
801
2,500
9,578
12,078
2
12,080
12,881
12,881
12,881

The financial statements on pages 9 to 17 were approved by the trustees, and authorised for issue on 13 January 2025 and signed on their behalf by:

......................................... Mr Lee Arnold Chairman

The notes on pages 12 to 17 form an integral part of these financial statements. Page 10

SWEETSCIENCE FOUNDATION

Statement of Cash Flows for the Period from 17 November 2023 to 31 March 2025

Note
Cash flows from operating activities
Net cash income
Working capital adjustments
Increase in debtors
14
Decrease in creditors
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
13
Net increase in cash and cash equivalents
Cash and cash equivalents at 17 November
Cash and cash equivalents at 31 March		 2025
£
12,881
(2,500)
(2)
10,379
(801)
9,578
-
9,578

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 12 to 17 form an integral part of these financial statements. Page 11

SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

1 Charity status

The charity is limited by share capital, incorporated in .

The address of its registered office is: 25 DANEMEAD GROVE NORTHOLT UB5 4NX

These financial statements were authorised for issue by the trustees on 13 January 2025.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

SWEETSCIENCE FOUNDATION meets the definition of a 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

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

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

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SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

3 Income from donations and legacies

Regular giving and capital donations
Total for period ended 31 March 2025		 Unrestricted
funds
General
£
(18)
(18)		 Total
funds
£
(18)
(18)

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SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

4 Income from charitable activities

Total for period ended 31 March 2025
5
Income from other trading activities
Trading income;
Shop income from sale of donated goods and services
Total for period ended 31 March 2025		 Unrestricted
funds
General
£
54,007
54,007
Unrestricted
funds
General
£
47,384
47,384		 Total
funds
£
54,007
54,007
Total
funds
£
47,384
47,384

6 Expenditure on raising funds

a) Costs of trading activities

Note
Costs of goods sold
Other direct costs of activities for generating funds
Total for period ended 31 March 2025
b) Investment management costs
Note
Allocated support costs
8
Total for period ended 31 March 2025		 Unrestricted
funds
General
£
9,741
712
10,453
Unrestricted
funds
General
£
448
448		 Total
funds
£
9,741
712
10,453
Total
funds
£
448
448

Page 14

SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

Total costs £ 7 Expenditure on charitable activities Unrestricted funds Total General funds Note £ £ Governance costs 8 4,764 4,764

Total expenditure £

In addition to the expenditure analysed above, there are also governance costs of £4,764 (2023 - £Nil) which relate directly to charitable activities. See note 8 for further details.

8 Analysis of governance and support costs

Governance costs

Staff costs
Other staff costs
Audit fees
Other fees paid to auditors
Legal fees
Marketing and publicity
Other governance costs
Total for period ended 31 March 2025		 Unrestricted
funds
General
£
24
568
40
433
3,699
4,764		 Total
funds
£
24
568
40
433
3,699
4,764

Page 15

SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

9 Net incoming/outgoing resources

Net incoming/outgoing resources for the period include:

2025 £

10 Trustees remuneration and expenses

11 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the period were:
Wages and salaries
Social security costs
Other staff costs		 2025
£
65,099
7,728
24
72,851

No employee received emoluments of more than £60,000 during the period.

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SWEETSCIENCE FOUNDATION

Notes to the Financial Statements for the Period from 17 November 2023 to 31 March 2025

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

Cost
Additions
At 31 March 2025
Depreciation
At 31 March 2025
Net book value
At 31 March 2025
14 Debtors
Trade debtors		 Furniture and
equipment
£
801
801
-
801		 Total
£
801
801
-
801
2025
£
2,500

15 Share capital

Page 17