Registered number: 02092919 Charity number: 327354 NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Armstrongwatson, Accountants, Business & Financial Advisers
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmlted by guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Company, Its Trustees and advisers Chalrman's statement Trustees, responsibilities statement 10 Independent audltors, report on the flnanclal statements Trustees, report (including strateglc report) Consolldated statement of flnanclal actlvltles 15 Consolldated balance sheet 16-17 Company balance sheet 18-19 Consolldated statement of cash flows 20 Notes to the flnanclal statements 21-49
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees A S Duncan. Chair W A Allison (resigned 22 November 2023) C E Rattigan R K Ranganathan D L Vickers (resigned 31 December 2023) M A Bramley N S Kosky {resigned 8 March 20241 A M MacGregor K R Bunbury E J Hepworth Dr A B Fawcett (appointed 1 January 2024) K Harbott (appointed 1 January 2024) Company reglstered number 02092919 Charlty reglstered number 327354 Reglstered offlce 2 City Walk Leeds West Yorkshire LS11 9AR Chlef executlve offlcer M D Gannon Independent audltors Armstrong Watson Audit Limited Chartered Accountants Statutory Auditors Third Floor 10 South Parade Leeds West Yorkshire LS15QS Bankers Nalional Weslminster Bank PIC PO Box 154 8 Park Row Leeds LS15HD Sollcltors Blacks Solicitors LLP City Point 29 King Street Leeds LS12HL Patron HRH The Princess Royal Investment managers Schroder and Co. Limited 1 London Wall Place London England EC2Y SAU Page 1
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) INTRODUCTION FROM THE CHAIR AND THE CHIEF EXECUTIVE OFFICER FOR THE YEAR ENDED 31 MARCH 2023 FOR THE YEAR ENDED 31 MARCH 2024 The chairman presents his statement for the year. We are pleased to see that the number of people coaching has remained consistent in the last two years. Despite the impact of the pandemic 2020-2022 and the current financial climate, coaching remains a catalyst for people taking part in physical activity and sport. There have been some notable changes in the makeup of the workforce as follows- We know thal the average number of hours active coaches spend Coaching in a paid capacity per week has increased since 2022. The percentage of active coaches who are either paid in full or paid for some of their coaching has increased. More coaches say thal coaching is their primary occupation. The average number of hours coaches sp8nd coaching in a voluntary capaclty per week has also incr8ased. Whist thls Is good news, it is important that we ensure we work harder to address the many inequalities that still exlst In society that either inhibit people coachlng or accessing coached activity. The benefits of being active are many. and with mental health and wellbeing of the nation a key focus. we continue to ensure coaches are well equipped to deal with any issues that may arise and have worked again with Mind to ensure coaches gain the confidence to support people experiencing mental health problems effectively and learn how to empower positive change and development. We continue work closely with key partners including Sport England, UK Sport and CIMSPA to champion professional recognition for the coaching workforce. Coaches make such a significant impact to the lives and communities their s8rv8, it is only right they are recogrsised for the work they do and contribution they make. Professlonal standards are the underplnnlng requlrements for a coach to practice. The standards have been reviewed and rewritten over the last 2 years to take into account many aspects including: what coaches need to know to address key b8haviours and practices In light of the Whyte Review, how we learn best and how we make sure learning is more easily accessible. In addition, and as part of our ongoing commitment to be 'Here for the Coach, we have spoken with hundreds of coaches to not only help them understand and achieve professional ststus but to also ask them what they need in addition to the professional standards. Key aspects include.. Self-care - what coaches can do to support themselves with all that is being asked of them. Access to coach developers- someone or a community to help them develop as coaches. Education and support for those organisations who employ and deploy coaches. Standard operating procedures for the sector to include complaints procedures, Easily accessible and digestible learning for coaches. All of this feedback is now factored into the work we will do in the coming year to truly 'Be Here for the Coach. As always. I would like to thank the board and the staff for their ongoing efforts in supporting the coaching workforce. Atholl Duncan Chair Date: CLI 14J20Z4 Page 2
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING {A company limited by guarantee) INTRODUCTION FROM THE CHAIR AND THE CHIEF EXECUTIVE OFFICER FOR THE YEAR ENDED 31 MARCH 2023 {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Chief Executive Officer presents his statement for the year. Coaches continue to make a significanl and positive change to the lives of people and communities. Whilst there are more demands and presSUS on coaches today than ever before, we have seen coaching numbers remain stable. What we must do now is provide greater support and guidan to offset the increasing demands on coaches, and where necessary, be the voice of the coach and support where necessary, but also challenge and shape the policies and practices being put in place for coaches and coaching. Access to learning and development, the building of coaching communities and provislon of support services for when things do not go to plan, are 81em8nts that we are committed to delivering to better support coaches. The development of a new leaming experi8nce platform is underway as well as a new webslte. Whilst we have some excellent learning material available, we need to ensure that for any coach, at any stage of their development, they can navigate the most appropriate and relevant learning materials for their individual role and needs. The new platform will enhance Ihis journey for all learners. And just as great Coaches do, we have reflected on how we are doing against our purpose, not by just asking ourselves, but by asking hundreds of coaches and the wider coaching workforce to tell us. This insight has been critical in helping us rethink how we provide support to not just coaches but the wider coaching workforce including coach developers, tutors and assessors. Over th8 last year we have had a cross organlsalional working group to reevaluate how we operate and provide guidance, learning and support so that we are truly coach focussed. This work has not only informed our decision to invest in a new learning experienc8 platform but also shaped the journey that coaches will go through. In addition to this, it has ensured we revisit and further develop the UK Coaching Club where coaches can access a host of freely available material as well as enhanced material through paid for membership. The ambition is to relaunch our UK Coaching Club proposition in autumn I winter 2024. We continue to collaborate closely wlth key slakeholders and investors. We have successfully completed 6 and 12 monlh reviews to ensure investment into 2024-2025 continues. In addition, we have confirmed funding for the continuation of Play Their Way, a campaign backed by UNICEF and 15 other partners, to ensure that childr8n and young people have a posltlve and fulfilling experience In physlcal actlvlty and sport. The economic climate we operate in remains a significant challenge that we need to face into In 2024-2025. Whilst we will always keep pricing as low as possible for our customers, we must continue to grow our income and investment slreams. To offset any cost increases to our customers we must also consider increased investment from funders and potential sponsors. Long term financial sustainability will be a key focus of our work in 2024-2025. Mark Gannon CEO Date: Page 3
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees presenl their annual report together with the audited financial statements of the group and the charity, The National Coaching Foundation, for the year ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current slatutory requirements, the requirements of the company's governing document, and the provisions of the Statemenl of Recommended Practice (SORP 2nd Edition), 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 20191. The charity also trades under the name UK Coaching. Objectlves and Actlvltle8 UK Coaching is the UK'S leading charitable organisation for sports and physical activity coaches. We empower, educate, celebrate, and develop coaching to play a crucial role in building healthier and happier communities. We believe that great coaching changes lives and communities and is the catalyst for a healthier future. Our Vislon.. To build healthier and happier communities through great coaching. Our Purpose: To be here for the coach by supporting all coaches to be great. Our Mission.. To become the UK'S leading destination for learning and development, products and services for coaches. We support th8 coaching workforce to d81iver #Greatcoaching to th8 lives of millions. How do w8 do this? We R8pres8nt'. the voice of coaching in the UK, celebrating & representing coach8s in the m8dia, working with the UK government for support, funding and legislation and championing inclusivity and diversity at every step We Empower.. Developing coaches through on and offline learning and courses, events and workshops for every stage of their coaching journey We Connect.. our community of peers, experts and Goaches to share best practice, elevate each other and collaborat8 wilh sporting bodies and organisalions We Asslsl: Providing toolkits, resources, insurance and specially selected partner offers via our UK Coaching Club Between 2023 and 2024 we have continued to be here for the coach by: Providing high profile media stories and events through our Awards and Coaching Week and topical dates and events e.g. SCA (Sudden Cardiac Arrest) awareness month, Play Their Way and Safeguarding Adults week. Driving the Play Their Way Campaign to build greater awareness of Voice, Choice, Journey and how to engage children and young people to build Iheirjourney and experience of physical activity and sport. Guiding, supporting and providing servic8S to the many system partners who 8mploy, dgploy and develop the coaching workforce. Supporting coaches in the talent and elite pathways to better support themselves and their participants by coaching the person first. Further developing the UK Coaching Club offer after engaging coach8s dir8Ctly to give feedback. Page 4
TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT) CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Our values define how we will deliver our strategic goals. Taking collective ownership of these cultural behaviours and guiding principles will help drive our success over the next ten years. We Collaborate: We foster an environment of respect and inclusivity that supports self-discovery. authenticity, and belonging. We encourage the diversity of thoughts, experiences, and backgrounds and celebrate participation and partnership in all our endeavours. We Coach: Great coaching is about a person-centred experience that Is positive, motivational, caring, and rewarding. We solicit the input of others and strive for transparency and inclusiveness in all communications, ensuring that people feel heard. We Cara.. We care about diversity in physical aclivity and sport and proactively strive to tackle inequalities. We care about making physical activity and sport safe and accessible to everyone. We demonstrale empathy, being supportive, take a non-judgemental approach and strive to create an environment of psychological safety. We Champion Innovatlon.. We recognise the importance of growth and strive to create an atmosphere of continuous improvement. We embrace slate-of-lhe-art technology and innovate by providing high- quality learning content and delivery. We are bold. and are prepared to rip up the rule book and look for new way5 to achieve our collective goals. The organisation has taken considerable time and energy this year to focus on our own people and Culture work. As such a number of events have taken place whereby colleagues have developed a Culture canvas for th& organisation which sets out some key aspects in lerms of 'what it feels like to work here, and 'how we do what we do,. This work is ongoing and is having a significant and positive impact re ownership and accountability. Publlc benefll Our Trustees have complied with their duty in accordance with the UK Charlties Act 2011 to follow the Charity Commission's guidance on the operation of this public benefit and the Trustees feel that the activities of the charity are such that th8 requir8m8nl is fulfilled without unfair restriction on access and without producing any detriment to the public. In particular, the trustees take car8 to ensure that planned activities contribute to the charity's aims and objeclives. Strateglc Intent UK Coaching's strategic Intent can be read in full on the following websit8'. https:Ilwww.ukcoa¢hing.orglabouVabout-uslour-strategic-intenl The board are conscious that whilst coaching has significant impact in communities and on people's lives, not everyone has the same or equal opportunity to Coach or be coached. Our strateglc Intent document released 2023-2024 outlines where we will focus to ensure greater opportunity for more people to coach or be coached. To achieve the outcomes within it, we will need to consider how we generate more resource and support to address these specific challenges. This will be a focus of our work in 2024-2025. UK Coaching Club continues to be a key focus of support for coaches. We are constantly engaging with not only our current members bul those who do not currently have memberships in order lo belter understand how we can further engage existing and bring in new members. Nearly half of the material in our membership offer is 'free to access, as it has been funded by investors. We would like to thank Sport England in particular and UK Sport for their continued investment. Financial sustainability must be a key focus going forward if we are to address som8 of the challenges outlined in our strategic intent document. Page 5
TRUSTEES, REPORT (INCLUDING STRATEGIC REPORT) CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 In response to the work we outlined in our 2023-2024 report, here is what we have done: We have taken the lime to seek stakeholder feedback and used their input to fundamentally change how we approach our delivery. We have explored how w8 dev8lop and provide learning, products and services to the sector and specifically coaches. We are exploring the culture of the organisation to maximise engagement and cohesion amongst colleagues, ultimately to ensure UK Coaching is a great place to work and we maximise how we deliver for customers. We have held a number of typical events to focus on tackling inequalities and drive inclusivity. Furthermore, we are working hard to support partners to diversify the coaching workforce, again advising and guiding with recruitment and training protocols. Financial sustainability is a key focus and we are exploring how we diversify and increase our income through further investment, trading and corporate partnerships. Financial review a. Financial review Th8 consolidated accounts show net income in the year of £136.310 {2022123 - net expenditure £181,800}. Th8 company UK Coaching showed net expenditure of £57,318, thls Is excludlng qualifylng donations from subsidiary companies {2022123- net expenditure £974,843). b. Sources of funding The principal source of funding to UK Coaching is grant aid. The amount of core grant income received by UK Coaching during 2023124 was £2,200,000 from Sport England and £250,000 from UK Sport. Grant income has been expended in the following ar8as: Here for the coach Talent Community and partners Children and young people Performance to high performance Research and insight Our subsidiary, UK Coaching Solutions Limited. continues to deliver quality services ad products to Its partners. These products and services compliment the core mission of the charity and it's key business objectives so that the quality of coaching is enhanced at all levels, UK Coaching Solutions Limited made a pre-tax profit of £315,195 for 2023124 and therefore a gift aid payment to UK Coaching will be made by 31 December 2024, following completion of the necessary lax computation. Sport England have continued to support the Charity through investment of £10m over 5 years to March 2027. Fundraising The charity does not actively fundraise for any donations or use any professlonal fundraiser or commercial participator to carry out activities on the charity's behalf. As a result, the charity is not a participant of a voluntary scheme for regulating fundraising, or any voluntary standard of fundraising for the activities carried out on behalf of the charity. Should the charity at some point in the future undertake a specific fundraising campaign or start to generate more income through fundraising, the trustees will look to sign up to a volunlary fundraising code. The Gharity ha5 had no complaints in the year. Page 6
TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT) CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 c. Resetves policy During the year the Trustees (Directors) reviewed the Group's requirements and risks to the organisation and the policy of holding funds of the Charity equivalent to three months operational expenditure, which is £1.2m. is slill valid. The Trustees will continue to review the reserves policy in line with the financial performance and working capital requirements of the organisation. The Charity has a good level of liquidity to Continue with current activities and strategic direction. The unrestricted reserves at 31 March 2024 were £2,249,461. Free reserves (defined as unrestricted reserves less intangible and tangible assets) at 31 March 2024 were £1,646,143. Th8 restricted reserves at the 31 March 2024 were £225,405 {£194,813 in 2022123) in relation to unspent grant. The Trustees (Directors> consider that the National Coaching Foundation's resarv8s policy has b88n met. d. Material Investments pollcy Cash holdings should be held al a minimum amounl equal to 2 monlhs Group Payroll expenditure. This is to ensure that adequate funds are available for meeting liabilities should any delay in funding be received and to allow time to make alternative funding arrangements if necessary. Golng concern The financial performance of the Chairty is recovering from the effect of the COVID-19 crisis Including a net gain of £113.9k on our investment valuation held with SGhroder Cazenove. as at 31 March 2024 the valuation was £2.097m and this can convert to cash within 4 to 30 days. We continue to escalate our digital and on-line offer by providing more online products and seNices and reached out further to our community and customers using our social media channels to generate new and alternatlve income and management continued to mitigate risk by reviewing and reducing cost and headcount were appropriate. Sport England have guaranteed the core grant funding of £10m through to March 2027, plus additional program funding of the Children's Collaborative of £2.7m to August 2023 and a further £800k to August 24, with further applications for Children's Collaborative funding for three years from September 24 to August 27 of £4m. Structurei governance and management a. Constitulion Th8 National Coaching Foundation (UK Coaching) is limited by guarantee with charitable status (charity regislralion number 327354) and the extent of the subscribers, liability is limited to a maximum of £1. The company is governed by its Memorandum and Articles of Association. which are dated 15 April 2018. b. Directors (Trustees) and their interests All directors of the company are also nominated trustees. The names of the directors at the date the report was approved, and those who served during the year, are set out below. A S Duncan, Chair W A Allison {resigned 22 Novemb8r 2023) C E Rattigan R K Ranganathan D L Vickers (resigned 31 December 2023) M A Bramley N S Kosky {resigned 8 March 2024) A M MacGregor K R Bunbury E J Hepworth Dr A B Fawcett (appointed 1 January 2024) K Harbott (appointed 1 January 2024) Page 7
TRUSTEES. REPORT {INCLUDING STRATEGIC REPORT} CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 New directors are appointed to the Board on the basis of expertise and knowledge in relevant areas. The appointment of directors is subject to the conditions within the current Memorandum and Articles of Association. After a formal and tailored induction, the role and training of directors and review of their performance is considered bythe Chair, and by the Nominations Sub Committee and the Governance Sub committee. The Board Seeks to ensure that the needs of the organisation and its customers are met by appointing to th& Board individuals that have the skills, knowledge, and attributes to help drive the organisation. New trustees undergo an orientation to brief them on their legal obligations under charily and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the Committees and decision-making processes, the Strategy and Business Plan, and most recent financial performance of the charity. During the period of induction, they may also meet key employees. Trustees are encouraged to attend appropriate extemal training 8vents where these will facilit18S the undertaking of thelr role. sublecl to approval of the Chair. The Company has entered Into quallfying third-party Indemnlty arrangements for the benefit of the Directors in a form and scope which comply with the requirements of the Companies Act 2006. c. Organisation Full Board ("Board" refers to the UK Coaching Board members who are made up of the Non-Executive Directors and the Non-Executive Chairperson only) meetings are held at least four times per annum. During 2023124, there were three formal reporting Board meetings. d. Pay policy for senior staff The Trustees consider that the Board and the senior management team comprise Ihe key management personnel of the charity in charge of directing and controlling running and operating the charlty on a day-to-day basls. The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the UK Coaching financial position, the directors benchmark against pay levels of other nationally funded partners. All Trustees give their lime freely, and only the Chair receives a remuneration. in 2023124 this was £15,000 for services provided in that capacity12022123 - £15,000). None of the other Trustees received any remuneration as approved by the Charity Commission or benefit in relation to their work with the charity during 2023124 or 2022123. R81at6d party and co-operation with other org8nisations The charity has one wholly owned subsidiary, UK Coaching Solutions Ltd. UK Coaching Solutions Ltd pays over profits to UK Coaching under gift aid provisions. UK Coaching Solutions Ltd is operated and managed independently of UK Coaching bul there is representalion from the parent charity on the Board of UK Coaching Solutions Ltd and reporting from UK Coaching Solulions Ltd to UK Coaching at every Board meeting. Trustees were directly reimbursed expenses in the sum of £177 {2022123 £2,789) upon applicalion of an expenses policy, for those costs incurred necessarily in attendance at Board and Sub Committee meeting or on charity business. The total cost of Board meeting is reflected within Support costs, allocated as Charitable spending in the accounts. Any connection beeen a Trustee or senior manager of UK Coaching with a sport of partner must be disclosed to the Board in the same way as any other contractual relationship with a related party. A register of Board interests and Staff interests is maintained, and interest are declared appropriately in relation to Board meetings. Page 8
TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT) CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Environmental, Social and Governance Mission and Values Our mission is to make the nation happier and healthier through great coaching, great8r environmentsl awareness and greater sustainability efforts. As the leading organization for physical activity and sports coaches, we know that great coaching alone is not enough to create a healthier and happier nation. That's why we continually seek to improve and implement environmental, social and governance principles throughout the organisalion and the wider community- with the result being that we help create a more sustainable future for our planet and every person on it. It's vital that as an organisation we both embrace and address societal and environmental challenges to not only create a vibrant coaching experience for every participant within physical activity and sport, but also have a real- life impact on communities across the UK and beyond. That's why we are committed to: 1. Miligating out environmental footprint and working with out partners to achieve carbon equivalent neutrality 2. Provide appropriate training and resources that support social and environmental practices 3. Provide leadership and maintain a work environment that values these practices and principles and ensures that employees feel empowered to uphold than and contribute to and participate in all aspects of the organisation 4. Empower our employees to contribute, participate and make suggestions 5. Becoming sector leaders in terms of Equality, Equity, Diversity and Inclusion (EEDI) policies, Duty to Care, governance and continue to be 'Here for th8 Coach,, Our commitment to sustainability Audltor All of th8 Trustees as at the date of this report have laken all the steps that they ought to have laken lo mak& themselves aware of any relevant audit information and to establish that the audilors are aware of that information. The Trustees are not aware of any relevant audit information of which the companls auditor is unaware. In approving the Trustee company directors on £lt Report, we also approve the Strategic Report included thereln, Sn our capacity as and signed on their behalf by: Ed Hepworth Chair of Finance, Audit and Risk Committee Page 9
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limlted by guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also the directors of the Company 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 Slandards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statemenls for each financial Under company law, the Trustees musl not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charilies SORP IFRS 102); make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK AccoLsnting Standards {FRS 1021 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 Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transaclions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. Page 10
NATIONAL COACHING FOUNDATION (THE} TIA UK COACHING (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL COACHING FOUNDATION {THE} TIA UK COACHING Opinion We have audited the financial statements of National Coaching Foundation (The) tja UK Coaching (the 'parent charitable companll and its subsidiaries Ilhe 'group'l for the year ended 31 March 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Acc8pled Accounting Practice). In our opinlon the financial statements.. give a true and fair view of the state of the Group's and of the parent charilab18 company's affairs as at 31 March 2024 and of the Group's Incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe that Ihe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng 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 statem8nts Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condilions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least Imelve months from when the financial statements are 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. Page11
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (CONTINUED) Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, excepl to the extent olheNise explicitly stated in our report, we do not express any form of assurance Conclusion thereon. Our responsibility is to read the other informalion and, in doing so, consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the Course of the audit, or otherwise appears to be malerially misstated. If we identify such material inconsistencies or apparent material misstatemenls, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Trustees, report is Inconsistent in any materlal respect with the financial statements., or the parent charitable company has not kept sufficient accounting records: or the parent charitable company flnancial statements are not in agreement wilh the accounting records and returns; or we have not received all the information and explanations we require for our audlt. Responslbllltles of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the direclors of the charitable company for the purposes of company lawl are responsible for the preparation of th8 financial statements and for being satisfied that they give a Irue 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 mlsstatement, whether due to fraud or error. In preparing the financial stalements, the Trustees are responsible for assessing the Group's and the parent charitable companls ability to continue as a going concern, disclosing, as applicable, malters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Page 12
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (CONTINUED) Audltors. responslbilities for the audit of the financlal statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant gUlationS made or having effect thereunder. 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 Auditors, 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 misslatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably b8 expected to influence the economic decisions of us8rs taken on th8 basis of these financial statements. Irregularltles, Including fraud, are instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud is detailed below.. Our approach to Identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the induslry. The key laws and regulations we identified 35 being applicable to the group are Charities SORP 2019, Charities Act 2011, Ofqual regulations and tax and employment legislalion., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughoul the audit. We assessed the susceptibility of the entity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as lo where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analyiical procedures to identify any unusual or unexpected latIOnships. tested journal entries to identify unusual transactions., and assessed whether judgements and assumptions mad8 in determining the accounting estimates were indicative of polential bias. In response to the risk of irregularities and non-compliance with laws and regulalions, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation., and enquiring of management as to actual and potential litigation and claims. A further description of our r8sponsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or .ukJauditorsres onsibilities. This description forms part of our Auditors, report. Page13
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (CONTINUED) Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slat8 to the charitable companls trustees those matters we are required to stale to them in an Auditors, report and for no other purpose. To the fullest extent permilted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report. or for the opinions we have formed. Armstrong Watson Audlt Llmlted Chartered Accountants Statutory Auditors Leeds Date: 28 October 2024 Armstrong Watson Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 14
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING {A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restrlcted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Grants receivab18 Other trading activities Investments 3,826,900 30,592 3,826,900 3.334,146 25,982 4,406,512 3,473,350 11,127 3,303,554 25,982 Total Income 3,329,536 3,857,492 7,187,028 7,890,989 Expendlture on: Raising funds Charitable activities 3,027,191 315,841 3,027,191 4,142,741 2,628,045 5,414,168 3,826,900 Total axp8ndlture 3,343,032 3,826,900 7,169,932 8,042,213 Net (expenditure)lincome before net gainsl(losses) on Investments Net gainsl{losses) on investments (13,496) 119,214 30,592 17,096 119,214 1151,2241 130,5761 Net movement In funds 105,718 30,592 136,310 (181,8001 Reconclllatlon of funds: Total funds brought fornard Net movement in funds 2,143,743 105,718 194,813 30,592 2,338,556 136,310 2,520,356 (181,800) Total funds carried forward 2,249,461 225,405 2,474,866 2,338,556 The Consolidated statement of financial activities includes all gains and losses recognised in the year. The notes on pages 21 to 49 form part of these financial statements. Page 15
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) REGISTERED NUMBER: 02092919 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Intangible assets Tangible assets Investments 13 14 15 243,136 360,182 2,096,944 364.705 298,155 1,983,043 2,700,262 2,645,903 Current assets Slocks Debtors Cash at bank and in hand 16 17 10,211 708,157 1,024,535 22,120 812,518 2,109,184 1,742,903 2,943,822 Creditors: amounts falling due within one year 18 (1,889,080) (3,104,283) Net Current Ilabllltles {146,177> (160,461} Total assets less current Ilabllltles 2,554,085 2,485,442 Creditors: amounts falling due after more than one year 19 (79,219} (146,886) Total net assets 2,474,866 2,338,556 Charlty funds Restricted funds 225,405 2,249,461 194,813 2,143,743 Unrestricted funds Total funds 2,474,866 2,338,556 Page 16
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) REGISTERED NUMBER.. 02092919 CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audil is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with th8 provisions applicable to entities subject to the small companies regime. The finan statements were approved and authorised for issue by the Trustees and signed on their behalf by.. 'iJ A S Duncan (Chair of Trustees) Dale.. 14 /10120A4 The noles on pages 21 to 49 form part of these financial statements. Pagè 17
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) REGISTERED NUMBER: 02092919 COMPANY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments 14 15 328,493 2,476,944 229,299 2,363,044 2,805,437 2,592,343 Current assets Debtors 17 41,075 429,579 115,799 723,125 Cash at bank and in hand 470,654 838,924 Creditors.. amounts falling due within one year 18 (1,983,400) {2,316,877> Net current liabilities (1,512,7461 11,477,953) Total assets less current Ilabilities 1,292,691 1,114,390 Creditors.. amounts falllng due after more than one year 19 (66,719) (124,386) Total net assets 1,225,972 990,004 Charlty funds Restricted funds Unrestricted funds 164,399 1,061,573 164,399 825,605 Total funds 1,225,972 990,004 Page 18
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmited by guarantee) REGISTERED NUMBER.. 02092919 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The Companys net movement in funds for the year was £235,968 {2023- £(853.274)). The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance wilh section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with Ihe requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial ents were approved and authorised for issue by the Trustees and signed on their behalf by: A S Duncan (Chair of Trustees) Date: 110 /203+ The not8s on pag8s 21 to 49 form part of these financial statements. Page 19
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating aetlvities Net cash used in operating activities (776,902) 1,107,597 Cash flows from investing activities Purchas8 of tangible fixed assets Investment income (266,528) 25,892 {55,060) 11,127 Net cash used Sn invèstlng activitl8S (240,636) (43,933) Cash flows from flnanclng activitles Repayments of borrowing Repayments of finance leases (10,000) (57,1111 (10,0001 (73,087} Net cash used In flnanclng a¢tlvltles (67,111) (83,087) Change In cash and cash equlvalenls In tha year Cash and cash equivalents at the beginning of the year (1,084,649) 2,109,184 980,577 1,128,607 Cash and cash equlvalents at the end of the year 1,024,535 2,109,184 The notes on pages 21 to 49 form part of these financial statements Page 20
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The National Coaching Foundation is a charitable company limited by guarantee and a registered charity (No. 327354} incorporated and registered in England and Wales under the Companies Act 2006. The registered office is given on the reference and administrative details of the charity page. Every member undertakes to contribute to the assets of The National Coaching Foundation, in the event of winding up whilst a member. or within a year of ceasing to be a member, for payment of the debts and liabilities of the Charity contracted before ceasing to be a member, such amount as may be required but not exceeding £1. Accountlng pollcles 2.1 Basls of preparatlon of flnancial statements The financial statements have been prepared In accordance wlth the Charities SORP IFRS 1021 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 IFRS 102) (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021, the Companies Act 2006 and the Charities Act2011. The National Coaching Foundation (TIA UK Coaching) meets the definition of a public benefit enlity under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The preparation of financial statements in compliance with FRS 102 requires the use of certaln critical accounting estimates. It also requires management to exercise judgement in applying th8 companrfs accounting policies (see note 3). The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of Ihe financial statements ar8 as follows: Basls of consolldatlon The financial statements consolidate the accounts of The National Coaching Foundation {TIA UK Coaching) and all of its subsidiary undertakings ('subsidiaries'). No separate Statement of Financial Activities has been presented for the charity alone as permitted by section 408 of the Companies Act 2006. Exemptions for qualifying entities under FRS 102 The Parent charitable company has taken advantage of the following disclosure exemptions: from preparing a Statement of Cash Flows on the basis that it is a qualifwng entity and the Consolidated Statement of Cash Flows included within these financial statements, includes the charitable company's cash flows., and from the financial instruments disclosures, required under FRS 102 para 11.40 to 11.48A and para 12.26 to 12.29, as the information is provided in the Group financial disclosures. Page 21
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING {A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {continued) 2.2 Going concern The financial performance of Ihe Chairty is recovering from the effect of the COVID-19 crisis including a net gain of £113.9k on our investment valuation held with Schroder Cazenove, as at 31 March 2024 the valuation was £2.097m and this can convert to cash wilhin 410 30 days. We continue to escalate our digital and on-line offer by providing more online products and services and reached out further to our community and customars using our social media channels to generate new and alternative income and management continued to mitigate risk by reviewing and reducing cost and headcount were appropriate. Sport England have guaranteed the core grant funding of £10m through to March 2027, plus additional program funding of the Children's Collaborative of £2.7m lo August 2023 and a further £800k to August 24, with further applications for Children's Collaborative funding for three years from September 24 to August 27 of £4m. 2.3 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be rec8ived and the amount of income receivable can be measured reliably. Income from public and private sources is accounted for in accordance with the terms of the funding agreement. Sponsorship relating to specific projects is recognised In the accounts for the period in which th& group becomes entitled to the income. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivabl8. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 2.4 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of Ihe total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more Ihan one activity and support costs which are not attributable to a single activity are apportioned between those aclivities on a basis consislent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 22
NATIONAL COACHING FOUNDATION (THE} TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounllng pollcles {continued) 2.4 Expenditure {continued) Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with adminislralion of the charity and compliance with constitutional and statutory requirements. Costs of gen8rating funds are costs incurred in attracting voluntary income, and those incurr8d in trading activities that raise funds. Charitable activities and governance costs are costs Incurred on the charitls operations, including support cosls and costs relating to the governance of the charity apportioned lo charitable activities. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxatlon The Company 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 Company 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 Ihe extenl that such income or gains are applied exclusively to charitable purposes. The Charily is registered for VAT, and VAT which is nol recoverable as a result of Ihe exempt incorne of the group is charged against the category of resource expended for which it was Incurred. 2.7 IntangSble assets and amortlsallon Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on intangible assets at rates calculated to writ@ off the cost of each asset on a straight-line basis over its expected useful life. Page 23
NATIONAL COACHING FOUNDATION (THE} TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.8 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangib18 fixed asset into its intended working condition should b8 included in Ihe measurement of cost. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of langible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the followlng bases.. Fixtures and fittings Computer equipment over 3 to 10 years over 3 to 5 years 2.9 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value al the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Losses) on investments, in the Consolidated stalement of financial activities. Investments in subsidiaries are valued at cost less provision for impairment. 2.10 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolele and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Raw materials, consumables and goods for resale- purchase cost on a first in, first out basis. 2.11 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.12 Cash at bank and In hand Cash at bank and 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. Page 24
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.13 Financial instruments The Charity enlers into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans lo related parties and investments in ordinary shares. Financial assets and liabilities, other than investments and bank loans, are initially measured at transaction price (including transaction costs) and subsequenlly held at cost, less any impairment. Investments are measured at fair value with movements through the Consolidated Slatem8nt of Financial Activities. Bank loans are measured at amortised cost using the effective interest method. 2.14 Flnance leases and hlre purchase Assets obtained under hire purchase contracts and finance leases are capilalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where subslanlially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, nel of the finance charge allocated to future periods. The finance element of the rental payment is charged to Ihe Consolidated statement of financial activiti@s so as to produce a constant periodic rale of charge on the net obligalion outstanding in each period. 2.15 Operatlng leases Rentals paid under operating leases are charged to the Consolidated statement of flnanclal actlvlties on a straight-line basis over the lease term. 2.16 Penslons The Group operates a defined Contribution pension scheme and the pension charge represents th6 amounts payable by the Group to the fund in respect of the y8ar. 2.17 Fund accountlng General funds are unrestricted funds which are available for use at the discr8tion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and Ioss8s are allocated to the appropriate fund. Page 25
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estlmates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that ar8 b81i8ved to be reasonable under the circumstances. Critical accounting eslimates and assumptions.. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Stock valuation The Group estimates the impairment of the carrying value of stock by value of the obsolete and slow- moving stock, using their judgement of future sales values generated by those stock items. Page 26
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Grants receivable Unrestricted Restrl¢ted Total funds funds 2024 funds 2024 2024 Sport England CIMSPA- R2R 2,200,000 74,277 233,150 1,319,473 2,200,000 74,277 233,150 1,319,473 UK Sport Sport England - Children's consortium 3 826 900 3 826 900 Unrestricted Restricted Total funds funds 2023 funds 2023 2023 Sport England CIMSPA- R2R 2,500,000 154,816 258,470 1,468,816 2,500,000 154,816 282,880 1,468,816 UK Sport Sport England - Children's consortium 24,410 4 382 102 4406 512 Page 27
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other trading activities Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Charity trading income.. Income from UK Coaching Solutions Limit8d 3,303,554 30,592 3,334,146 Net income from trading activities 3 303 554 3 334 146 Unrestricted Restricted Total funds fvnds 2023 funds 2023 2023 Charity trading income.. Income from UK Coaching Solutions Limited 3,447,396 25,954 3,473,351 Net income from trading activities 3 447 396 3 473 351 Investment Income Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Total funds 2023 Dividends and interest recelved on Investments 25,982 25,982 11,127 Page 28
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NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ralslng funds Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Total funds 2023 Investment management fees Expenditure incurred by subsidiaries 4,687 3 022 504 3 027 191 4,687 3 022 504 4,070 2 623 975 3 027 191 2 628 045 Total 2023 2 628 045 10. Governance costs Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Total funds 2023 Auditorfs remuneration Auditor's non audit costs Legal and professional Board and Sub-committee meeling costs Board recruitment costs Trustees, 8XP8nses reimbursed 21,300 2,500 6,060 6,754 22,500 1,225 6,060 6,754 3,000 177 28,875 9,983 18,409 6,542 16,000 3,000 177 Total 2023 All governance costs in the prior y8ar wer8 unreslrict8d other than board recrultment costs of £16,000. 11. Net expenditure 2024 2023 This is stated after charging.. Amortisalion of intangible fixed assets Depreciation of tangible fixed assets Auditor's remuneration - audit 121,569 204,501 21,300 2,500 109,116 121,569 190,844 28,875 9,983 109,116 Auditor's remuneration - non audit Operating lease rental - land and buildings Operating lease rental other Page 33
NATIONAL COACHING FOUNDATION ITHE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Employees Group 2024 Group 2023 Charity 2024 Charity 2023 Staff Costs consist of: Wages and salaries Social security costs Employer pension contribulSons 2,848,360 276,320 176 871 3,189,349 313,249 192 200 1,632,904 107,706 1,601,296 133,441 3 301551 3 694 798 1 811499 1817 610 Included in staff costs above is an amount of £Nil12023 £121,854) in relation to redundancy payments. At the year-end there were no amounts outstanding in relation to the redundancy payments12023- £Nil). The average number of persons employed by the group and charity during the year was as follows.. Group 2024 Group 2023 Charlty 2024 Charity 2023 Employees Average headcounl expressed as full time equivalent.. Management Technical officers 68 83 22 30 24 29 18 45 12 17 Administration 16 28 The number of highest paid employees (excluding pension contributions) was: Group 2024 Group 2023 Charity 2024 Charity 2023 Number Number Number Number In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £120,001- £130.000 In the band £130,001- £140,000 Key Management personnel of the charily are deemed to be the Twstees, the Chair, and the senior management team. The total trustee and key management personnel remuneration benefits (including pension contributions and employers Nl} were £750,572 (2023 - £886,175). During the year the chair Atholl Duncan received remuneration of £15,000 {2023 - £15,000) and pension contributions of £Nil {2023 - £Nil}. Approval was received from the Charity Commission to pay the Chair a maximum of£25k. There were no Trustees, accruing retirement benefits under defined contribution schemes (2023- None}. During the year no Trustees received any benefits in kind 12023 - None). Three Trustees received reimbursement of expenses amounting to £177 in the current year {2023- 6 Trustees - £2,789). Page 34
NATIONAL COACHING FOUNDATION (THE} TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Intangible assets Group Goodwill Cost At 1 April 2023 1,215,686 At 31 March 2024 1,215,686 Amortlsatlon At 1 April 2023 Charge for the year 850,981 121,569 At 31 March 2024 972,550 Net book value At 31 March 2024 243,136 At 31 March 2023 364,705 Goodwill r8presents the amounts initially recognlsed upon acquisltlon of th8 subsldlaries. Page 35
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Tangible fixed assets Group Flxtures and flttlngs Computer equlpment Total Cost or valuation At 1 April 2023 Additions Disposals 225,341 604,655 266,528 (169,095) 829,996 266,528 {169,095) At 31 March 2024 225,341 702,088 927,429 Depreclatlon At 1 Aprll 2023 Charge for the year On disposals 109,935 45,068 421,906 159,433 (169,095) 531,841 204,501 {169,095) At 31 March 2024 155,003 412,244 567,247 Nat book value At 31 March 2024 70,338 289,844 360,182 At 31 March 2023 115,406 182,749 298,155 The net book value of assets under finance leases at the year end was £141,160 {2023- £244,031). Page 36
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Tangible fixed assets (continued) Company Flxtures and fittings Computer equipment Total Cost or valuation At 1 April 2023 Additions 225,341 370,621 266,528 {135,415} 595,962 266,528 {135,415) Disposals At 31 March 2024 225,341 501,734 727,075 Depreciation At 1 April 2023 Charge for the year On disposals 109,935 45,068 256,728 122,266 1135,415) 366,663 167,334 {135,415) At 31 March 2024 155,003 243,579 398,582 Net book value At 31 March 2024 70,338 258,155 328,493 At 31 March 2023 115.406 113,893 229,299 The net book value of assets under finance leases at the year end was £141,160 (2023- £244,031). Page 37
NATIONAL COACHING FOUNDATION {THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Flxed asset investments Llsted Investments Group Cost or valuation At 1 April 2023 Revaluations Management fees 1,983,043 119,215 {5,314) At 31 March 2024 2,096,944 Net book value At 31 March 2024 2,096,944 At 31 March 2023 1,983,043 Investments in subsldiary Lisled companies investments Total Company Cost or valuatlon At 1 April 2023 Disposals Revaluations 380,001 (1) 1,983,043 2,363,044 (1) 119,215 (5,3141 119,215 (5,314) Management fees At 31 March 2024 380,000 2,096,944 2,476,944 Not book value At 31 March 2024 380,000 2,096,944 2,476,944 At 31 March 2023 380,001 1,983,043 2,363,044 Page 38
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Material investments 2024 2023 Charity multi-asset fund Absolute return fund Responsible multi-asset fund Cash deposit fund 759,425 226,066 307,879 803 574 738,077 210,339 291,911 742 716 2 096 944 1 983 043 For details of subsidiary undertakings see note 31. 16. Stocks Group 2024 Group 2023 Finished goods and goods for resale 10,211 22,120 17. Debtors Group 2024 Group 2023 Company 2024 Company 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 414,128 18,000 276,029 445,490 23,164 343,864 6,677 1,705 32,693 6,000 3,368 106,431 708,1 $7 812,518 41,075 115,799 Page 39
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Credltors: Amounts falling due wlthin one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans 10,000 388,358 10,000 475,257 Trade creditors Amounts owed lo group undertakings Other taxation and social security Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred Income 153,714 996,147 47,301 280,880 132,444 23,311 114,073 89,153 62,747 135,920 1,177,982 62,193 946 2,466,734 62,747 131,528 591,963 62,193 1,818,049 1,889,080 3,104,283 1,983,400 2,316,877 Amounts owed to group undertakings are interest free and repayable on demand. The finance lease creditors is secured on the assets to which it relates. There is no s8curity attached to the bank loan. Income relating to future periods included in accruals and d8ferr8d income above is deferred appropriately as shown below.. Group 2024 Group 2023 Company 2024 Company 2023 Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous periods 1,557,012 345,777 1,388,061 315.312 875,621 2,918,735 705,995 2,731.645 {1,878,897) {1,707,500) {1,673,343) (1,658,896) 553,736 1,557,012 420,713 1,388,061 Deferred income relates to income for products and services that were not completed as at the year end. Page 40
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Creditors: Amounts falllng due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans Net obligations under finance lease and hire purchase contracts 12,500 22,500 66,719 124,386 66,719 124,386 79,219 146,886 66,719 124,386 The finance lease creditors is secured on the assets to which it relates. There is no security attached to the bank loan. 20. Commltments under finance leases Al 31 March 2024 the total of future minimum lease payments under finance leases was: Group 2024 Group 2023 Charlty 2024 Charity 2023 Amounts payable.. Within 1 year Beeen 2 and 5 years 62,747 62,193 124 386 62,747 62,193 124 386 129 466 186 579 129 466 The finance leas8s above relate lo the financing of the fit-out of the new head office at City Walk and IT Sofare. Page 41
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Loans Group 2024 Group 2023 Amounts falling due with 1 year Amounts falling due 1-2 years Amounts falling due with 2-5 years 10,000 10,000 10,000 10,000 The loan balance relates to an initial loan of £50k, being a Government Bounce Back Loan relating to th8 COVID-19 pandemic. 22. Flnancial instruments Group 2024 Group 2023 Financlal assets Financial assets measured at fair value through income and expenditure Financial assets measured al amortised cost 2,096,944 1,496,291 1,983,043 2,617,465 3,593,235 4,600,508 Group 2024 Group 2023 Flnancial liabilities Financial liabilities measured at amortised cost 1.216,316 1,694,157 Financial assets measured at fair value through profit or loss comprise of the listed investments. Financial assets measured al amortised cost comprise of cash balances, trade and other debtors and accrued income. Financial liabililies measured at amortised cost comprise of trade and oth8r creditors and accruals. Page 42
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Statement of funds Group - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Income Expendlture Galns Unrestrlcted Funds Unrestricted general funds Restricted funds 2 143 743 3 329 536 3 343 032 Sport England.. Core grant - R2R CIMPSA Children's consortium UK Sport: Core grant NED contribution Mind 161,814 2,200,000 (2,200,000) 74,276 {74,276) 1,319,472 (1,319,472) 161,814 233,150 (233,150) 2,585 30,414 2,585 61,006 30,592 3 857 490 7 187026 3 826 8981 7 169 9301 225 405 2 474 866 Total of fund$ 2 338 556 119 214 Balance at 31 March 2023 Balance at 1 April 2022 Group - prlor year Income Expenditure Losses Unrestricted Funds Unrestricted general funds Restricted funds Sport England.. Core grant - R2R CIMPSA Children's consortium UK Sport.. Core grant NED contribution Mind 2 325 543 3 482 933 3 634 157) 30 576) 2 143 743 161,814 2,500,000 (2,500,000) 154.816 (154,816) 1,468,816 11,468,816) 161,814 258,470 (258,470) 2,585 30,414 2,585 30,414 25,954 (25,954) 194 813 2 520 356 4 408 056 7 890 989 4 408 0561 8 042 2131 194813 30 5761 2 338 556 Total of funds Page 43
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Statement of funds - Charity- current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Gains Unrestrlcted Funds Unrestricted general funds Restricted funds 825 605 311028 194 273 119213 1061573 Sport England: Core grant - R2R CIMPSA 161,814 2,200,000 (2,200,000) 74,276 {74,276) 1,319,472 (1,319,472) 161,814 Children's consortium UK Sport.. Core grant 2,585 233,150 {233,150) 2,585 164399 990 004 3 826 898 4 137 926 3 826 898) 4 021171 164 399 1225 972 Total of funds 119 213 Statement of funds - Charity- prior year Balance al 31 March 2023 Balance at 1 April 2022 Incom8 Expenditure Gains Unrestricted Funds Unreslricled general funds Restricted funds 1678 879 884 543) 30 576) 825 605 Sport England.. Core grant - R2R CIMPSA Children's consortium UK Sport.. Core grant 161,814 2,500,000 (2,500,000) 154,816 1154,816) 1,468,816 (1,468,816) 161,814 2,585 28,424 1284,424) 2,585 164 399 1843 278 164 399 990 004 Total of funds 4 469 901 5 292 599) 30 5761 Page 44
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Analysis of net assets between funds - Group - current year Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets 243,136 360,182 2,096,944 1,517,498 (1,889,080) (79,219) 243,136 360,182 2,096,944 1,742,903 (1,889,080) (79,219) 225,405 Creditors due within one year Creditors due in more than one year 2,249,461 225,405 2,474,866 Analysls of net assets between funds - Group - prior year Unrestricted Restricted Total funds funds 2023 funds 2023 2023 Intangible fixed assets Tangible fixed assets Fixed asset investments 364,705 298,155 1,983,043 2,881,453 13,361,113) (22,5001 364,705 298,155 1,983,043 3,076,266 13,361,113) (22,5001 Current assets 194,813 Creditor5 due within one year Creditors due In more than one year 2,143,743 194,813 2,338,556 Page 45
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Analysls of net assets between funds - Charlty - current year Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Tangible fix8d assets Fixed asset investments 328,493 2,476,944 306,255 11,983,400) (66,719) 328,493 2,476,944 470,654 {1,983,400) (66,719) Current assets Creditors due within one year Creditors due in more than one year 164,399 1,061,573 164,399 1,225,972 Analysls of net assets between funds - Charlty - prior year Unrestricted Restricted Total funds funds 2023 funds 2023 2023 Tangible fixed assets Fixed asset investments Currenl assets Creditors due within one year 229,299 2,363,044 674,524 (2,441,263) 229,299 2,363,044 838,923 (2,441,263> 164,399 825,604 164,399 990,003 Page 46
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Net incomelexpenditure for the period (as per Statement of Financial Aclivities) 136,310 {181,800) Adjustments for: Deprecialion charges Amortisation charg8s {Gains}Ilosses on investments Investment income Decreasellincrease) in stocks Decreasel{increase} in debtors {Decreas81lincrease in creditors Increase in provisions 204,501 170,698 121,569 121,569 (113,901 } 30,576 (25,892) 111,127) 11,906 17,599} 104,362 1333,913} (1,215,757) 1,344,193 125,000) Net ¢a$h provlded byl(used In) operatlng actlvltles (776,9021 1,107,597 26. Analysls of cash and cash equivalents Group 2024 Group 2023 Cash in hand 1,024,535 2,109,184 Total cash and cash equlvalents 1,024,535 2,109,184 27. Analysis of changes In net debt At 1 April 2023 Cash flows At 31 March 2024 Cash al bank and in hand Debt due within 1 year Debt due after 1 year Finance leases 2,109,184 (1,084,649) (10,000) (22,500) (186,579) 1,024,535 (10,000) (12,500) {129,466) 10,000 57,113 1,890,105 (1,017,536) 872,569 Page 47
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 28. Penslon commltments The Group provides a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the group in an independently administered fund. The costs of contributions to pension funds for Group employees amounted to £176,871 (2023 £192,200). Contributions lotalling £30,912 (2023 £26,114) were payable lo the fund at the reporting date. 29. Operating lease commilments At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operaling leases as follows: Group 2024 Group 2023 Company 2024 Company 2023 Not later than 1 year Lat&r than 1 year and not later than 5 years 130,643 96,757 130,643 230,173 130,643 96,757 130,643 230,173 227,400 360,816 227,400 360,816 The operating leas8 commitments in the curr8nt year r81ates to the18as8d City Walk property and office equipment. 30. Flnanclal performance of the charlty The ¢onsolidate(J statement ol financial activities includes the results of the Charity's wholly owned subsidiaries which raise funds for the Charity. The summary financial performance of the Charity a5one is.. 2024 2023 Income 4,137,925 4,469,901 (4,021,170) (5,292,599) 119,213 {30,576) Expenditure on charitable activlties Net gains on investments Net expenditure 235,968 (853,274) Total funds brought forward 990,004 1,843,278 Totsl funds carried forward 1,225,972 990,004 Represented by.. Restricted income funds Unrestricted income funds Total 164,399 1 061573 1225 972 164,399 825 605 Page 48
NATIONAL COACHING FOUNDATION (THE) TIA UK COACHING (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 31. Principal subsldiaries The following was a subsidiary undertaking of the Company- Name Company number Registered offlce or prln¢lpal Class of place of business shares Holdlng UK Coaching Solutions Limited 02340767 2 City Walk, Leeds, England LS119AR Orindary 100/. The financial results of the subsidiaries for the year were- Names Profitl(Loss) I Surplusl (Def icit) for the year Net assets UK Coaching Solutions Limited (8,6831 1,385,756 Physical Activity Limited and Professional Active Registers LLP were both dormant during the year. During the prior year, a decision was made to commence the process of Iiqlsidaling both companies. The liquidations were completed during the year. 32. Related party transactlons During the year the charity recharged services worth £195,385 {2023 £1,074,226) and was recharged expenses of £1,059,088 (2023 £1,211,044) from UK Coaching Solutions Limited, a wholly owned subsidiary of the charity. At the year end the charity owed £996,147 (2023 - £132,444), which was included in Creditors under one year. Remuneration of key management personnel is included in note 12. There were no other related party transactions. 33. Controlling party The Charity is a company limited by guarantee and is therefore ultimately controlled by the Trustees. Page 49