**REGISTERED NUMBER: 2301452 (England and Wales)**
**Trustee's Annual Report and Consolidated Financial Statements for the Year Ended 31st December 2021 for SPECIAL OLYMPICS GREAT BRITAIN Registered charity No. 800329**
**Simpson Wreford & Partners** Chartered Accountants and Registered Auditors
Suffolk House George Street Croydon CR0 0YN
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Contents of the Trustees' Annual Report and Accounts for the year ended 31st December 2021**
||**Page**|
|---|---|
|Reference and administrative information|1|
|Annual report of the trustees|2 - 8|
|Independent auditors' report|9 - 11|
|Consolidated statement of financial activities|12|
|Consolidated balance sheet|13|
|Company balance sheet|14|
|Consolidated statement of cash flows|15|
|Notes to the accounts|16 - 29|
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Reference and administrative information for the year ended 31st December 2021**
**CHARITY REGISTRATION NUMBER:** 800329 **COMPANY REGISTRATION NUMBER:** 2301452 **REGISTERED OFFICE:** C/O Two Circles, Wework Aviation House, 125 Kingsway, London WC2B 6NH
## **DIRECTORS:**
The following persons held office during the year ended 31st December 2021 and up to the date of this report:
P. D. Richardson (Chairman) C. J. Classen (Vice Chairman) A. C. Baker Dr. D. A. Brace Resigned 29th April 2021 Professor J. Burns K. A. Byland V. S. Patel R. A. Powell A. Rayson E. L. Rose L. A. P. Smith Resigned 10th March 2021 A. T. Young **HONORARY PRESIDENT:** L. McMenemy MBE **HONORARY VICE PRESIDENT:** P. R. Anderson OBE G. Hulme **CHIEF EXECUTIVE OFFICER:** M. M. Carney - Resigned July 2021 C. Dyer - Appointed 9 May 2022 **INTERIM CHIEF EXECUTIVE OFFICER:** L.. Baxter MBE - July 2021 to May 2022 **AUDITORS:** Simpson Wreford & Partners Chartered Accountants & Statutory Auditors Suffolk House, George Street, Croydon CR0 0YN **BANKERS:** National Westminster Bank Plc 116 Fenchurch Street, London, EC3M 5AN
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees**
## **for the year ended 31st December 2021**
The members of the Board of Directors (Trustees) of Special Olympics Great Britain, present their annual report together with the audited accounts for the year ended 31st December 2021. The reference and administrative information is set out on page 1.
## **Structure, governance and management**
Special Olympics Great Britain (SOGB) is a charitable private company limited by guarantee and not having a share capital. The company is governed by the Memorandum and Articles of Association under which the Board of Directors is appointed and the management of the charity is set out. The company operates a national programme of development, training and local, regional and national competitions which is accredited by Special Olympics International.
SOGB is governed by a Board of Trustees, who have been appointed for their expertise in specific areas including an elected Special Olympics athlete. They are joined on the Board by three representatives elected from the membership. The Chief Executive Officer (CEO) is delegated, by the Board, to oversee the day-to-day running of the organisation. Supporting the Board and reporting to the CEO, is the National Advisory Council (NAC), which advises on the work of the sports and competition programme, and nominates the three elected membership Board members. Also feeding into the Board is the Athlete Leadership Team (ALT), a team made up of SOGB athletes, which provides a forum to discuss athletes' views, to feedback to the Board and to provide leadership and speaking/advocacy opportunities for athletes.
Apart from the above persons, the membership of the company is made up of individuals nominated by local accredited groups which are considered to be branches under the regulations of the charity.
The charity owns a 100% subsidiary, SOGB Promotions Limited. This subsidiary is fully controlled by SOGB and their results are included within these consolidated financial statements. SOGB Promotions Limited is a private company, limited by shares, registered in England and Wales, the company's principal activity is to obtain sponsorship income for SOGB.
## **Risk Review**
The Board of Directors have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities providing assurance that:
- The charity complies with relevant laws and regula�ons.
- Its assets are safeguarded against unauthorised use or disposition.
- Proper records are maintained and financial information used within the charity or for publication is reliable.
As part of the charity's risk management process, the Board acknowledges its responsibility for the charity's system of internal controls and for reviewing effectiveness, while recognising that such a system is designed to manage rather than eliminate the risk of failure to achieve the charity's objectives and that there is reasonable (not absolute) reassurance against material loss. The Board of Directors, through a regular risk review, monitor risks including consideration of the type of risks the charity is facing, the level of risk which they regard as acceptable, the likelihood of the risks concerned materialising, the charity's ability to reduce the incidence and impact of those that do materialise.
## **Statement of Trustees' responsibilities**
The trustees (who are also directors of Special Olympics Great Britain for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Statement of Trustees' responsibilities (continued)**
Company law requires the trustees to prepare financial statements for each financial year. 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 the income and expenditure, of the charitable company 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 in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards 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 charitable company will con�nue in opera�on.
The trustees are responsible for keeping adequate accounting records that 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.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
- information and to establish that the auditor is aware of that information.
## **Board Director induction**
Once new trustees are appointed by the Board they go through an internal induction process with the Chair and the CEO, and are invited to meet key employees. During their induction, new trustees are briefed on their legal obligations under charity and company law.
## **Objectives and activities**
The mission of Special Olympics is to provide year-round sports training and athletic competition in a variety of Olympic type sports for children and adults with an intellectual (learning) disability giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics athletes and the community.
Special Olympics is founded on the belief that people with intellectual disabilities can, with proper support and encouragement, learn, enjoy and benefit from participation in individual and team sports, adapted as necessary to meet the needs of those with intellectual and profound disabilities.
Special Olympics believes that consistent development and training, including physical conditioning and nutritional and health-related activities, is essential to the development of life skills and sports skills, and that competition among those of equal abilities is the most appropriate means of testing these skills, measuring progress and providing incentives for personal growth.
Special Olympics also believes that through sports training and competition, people with a learning disability benefit physically, mentally and socially; families are strengthened; and the community at large, both through participation and observation, is united with people with intellectual disabilities in an environment of equality, respect and acceptance.
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Chairman's review of achievements and performance**
Special Olympics believes that every person with an intellectual disability who is at least eight years old should have the opportunity to participate in and benefit from sports training and competition. Special Olympics also permits individual programmes to accept children from ages two to seven for training, although these children may not participate in Special Olympics competitions.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
For us all at Special Olympics GB, Covid-19 presented a huge challenge leading into 2021 and changed life as we know it. None more so than for our athletes who are not only among some of the most vulnerable in society but who have been even more disproportionately negatively affected by this pandemic. With no Special Olympics training, competitions or activity since March 2020, life was very different with reduced physical activity and increased isolation. The specific healthcare issues of the community with intellectual disabilities led Special Olympics GB to force a stop on activity before the official UK Government advice.
Throughout 2021, a number of fundamental changes were made. We increased our accreditation fees from £1.75 to £20 to align to other sporting bodies and charities across different industries. We also made key governance changes to allow us to align to Tier 3 Code for Sports Governance. These fundamental developments have allowed us the opportunity to strengthen our offer to our membership.
We were really keen to get back to training, competitions and spending time with our Special Olympics GB family once the time was right for us to do so. In 2021, we saw 34 of our clubs go back to some form of activity. Our Return to Activity framework assisted Special Olympics GB athletes, clubs, coaches, officials and families in understanding the approach and requirements which needed to be met in order for Special Olympics GB sport, events and training to be conducted as safely as possible.
Through listening to our membership, we understood that it was important for us to have a clear competition advancement pathway to ensure that there are opportunities for our athletes of all abilities to compete at all levels. In September we launched our new Guide to Competition which helps our accredited programmes in the organisation of a Special Olympics GB or Partnership Event and sets out the minimum standards for such events.
In June 2021 we launched our new four-year strategy, Inclusion in Action. This strategy firmly places athletes at the heart of Special Olympics GB, with a clear vision to drive sustainability and growth across every aspect of the organisation, while increasing our advocacy and influence externally to help more of the 1.5 million people living with an intellectual disability in Great Britain today.
Following extensive consultation throughout 2020/2021 with a wide range of registered members, athletes, trustees, corporate partners, key stakeholders, and with the help of an international sports marketing agency and strategic partner to Special Olympics GB, Two Circles, our new strategy focuses on four main objectives which provide a clear and achievable roadmap for our organisation moving forward.
Our objectives are to:
1. Develop an effective delivery environment.
2. Grow participation to record Great Britain levels.
3. Tell more athlete stories.
4. Generate sustainable and diverse fundraising.
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Chairman's review of achievements and performance (con�nued)**
Our new strategy comes at a time when recent research via the Special Olympics GB Omnibus survey in April 2021 identified that 36% of adults have a connection to or are aware of someone with an intellectual disability, which equates to almost 19 million people in Great Britain, far higher than was previously estimated. Younger generations (16 – 44 years old) have more of a connection to, or are aware of, people with intellectual disabilities than older generations. 9 out of 10 consumers have a more positive image of a brand when it supports a social or environmental cause. This adds up to a huge opportunity for not only Special Olympics GB and people with intellectual disabilities, but for businesses and society in general. “Sport has the power to unite people like nothing else" and the positive effect of sport on people’s lives is well documented. The statistics around disability sport make for sombre reading. The Activity Alliance Annual Disability and Activity Survey 2019 showed that only 44% of disabled people feel that they are given the opportunity to be as active as they would like to be.
The creation of this new strategy represents a major step forward for Special Olympics GB. The last two years have been about transforming the organisation and dealing with Covid-19. We are now at a point where we can start to build for a bright and exciting future - helping to tackle issues such as the fact that more than 90 percent of people with an intellectual disability are not paid in employment. The potential for Special Olympics GB is very exciting.
In July, Michelle Carney stepped down from her position of Chief Executive Officer at Special Olympics GB. Throughout 2021, Michelle worked closely with our Board of Trustees to develop a stronger and more robust organisation allowing us to transform the lives of more people with an intellectual disability. In July 2021, Laura Baxter stepped into the Interim CEO role while a full-time replacement was found for the CEO position.
Throughout the course of 2021, we took more time to listen around how our membership's voices should be heard. We launched a Working Group format in August, to ensure voices are heard across all key areas of the organisation. These groups will be representative of volunteers, athletes, family members and National Office staff working together across key areas such as Volunteer Development, Competition Pathways and Sports Development to name but a few. These topic specific working groups will mean we can hear more member voices who have an interest and/or expertise in different areas.
Following the announcement in 2020, that Liverpool City Council were unable to commit to the delivery of the rescheduled 2021 National Summer Games we have been working really hard to explore all possible options to bring a National Summer Games experience to our athletes in 2022. This has included us having many conversations both internally and externally to see what may be possible and what is right for us to do for our athletes given where we are with our return to activity and competition. We spoke at length with UK Government, potential host cities and funding partners to explore the possibility of us hosting a National Summer Games in 2022. However, the knock-on impact of Covid-19 and the timeframes we were working to throughout 2021, made this extremely difficult. Our own return to activity and competition plans have progressed at a slower pace than we first anticipated given the delay in the lifting of restrictions and the need for us to continue to protect our athletes, many of whom are vulnerable and/or at higher risk of becoming seriously ill as a result of Covid-19. With only a third of Special Olympics GB accredited clubs back to activity, as well as the outcome of our external conversations and what we have been hearing from some of our volunteers, our intention is to deliver a National Summer Series of Sport in 2022. We have engaged in the initial stages of planning for this throughout Q4 of 2021.
In 2021 the planning for our GB team to attend the Special Olympics World Winter Games 2022 in Kazan, Russia kicked off and had to be halted shortly after due to developing world events. The World Winter Games, due to be held in Kazan were cancelled which meant that our team of 27 no longer had these games in their sights. The World Winter Games will return in Italy in 2026.
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Chairman's review of achievements and performance (con�nued)**
In 2021 we were delighted to celebrate a variety of Queen's Honours with our incredible athletes and volunteers.
- Former Chair of Special Olympics GB Murton (Martin) Mann was awarded an MBE for services to people with intellectual disabilities.
- Special Olympics athlete, coach and former Board Member, Greg Silvester was awarded British Empire Medal for services to people with learning disabilities in sport.
- Special Olympics GB’s World Summer Games volunteer Simon Jackson-Turner was awarded British Empire Medal for service to care and sport.
- Special Olympics athlete, coach, Athlete Leader and Board Member, Kiera Byland was awarded British Empire Medal for services to sport.
We have continued with our focus on organisational excellence, we have drafted new Articles of Association, strengthened our financial structures and systems, conducted a review to match our compliance systems and processes with Special Olympics International and UK Sport and we have received the Disability Confident kitemark. We have enhanced our safeguarding framework by establishing a new Safeguarding and Welfare policy and procedures that include training opportunities for our volunteers across the country. We have strengthened our DBS and PVG process for volunteers to increase efficiency as well as providing a safeguarding hotline that is operated 24/7 to support our accredited programmes.
We have embarked on phase 1 of gaining better membership management. Through our partners, Two Circles, we have implemented a Salesforce platform for athlete and volunteer registration, which means more efficient and effective operations. This has allowed us to fully understand our active athletes and volunteers. We have also aligned our National Office Team structure to our strategy, with the needs and demands of Covid recovery and our membership. This now shows that we have better coverage in membership facing engagement and service. Efforts have gone into developing our Athlete Leadership offering through starting the process to develop a specific strategy. In 2021 we launched our first Special Olympics GB Social Enterprise for Athlete Leader Niall Guite.
In the engagement space we have a fresher brand identity which has meant that we have a professional look and feel to our engagement across all assets and platforms. We have embarked on a journey to tell more stories which has provided more opportunities to showcase our athletes, volunteers and families. This has allowed us to demonstrate our social impact value.
## **Financial review**
The Consolidated Statement of Financial Activities for the year to 31st December 2021 is set out on page 12 of the accounts and shows net expenditure for the year of £18,933, down from net income of £31,048 in the previous year. This includes net expenditure of £23,062 arising from branch and regional activity, compared to net income of £51,848 in 2020.
The fall in net income is a result of an 11% increase in overall expenditure within in the year. Expenditure has increased for various reasons. Firstly, wages have increased within the year, with the charity hiring more members of staff. Due to the Covid-19 restrictions easing, training and other activities were able to take place, this led to increases within training costs, event costs and travel costs. As mentioned in this Trustees Report, the charity has undertaken governance work within the year and this has led to an increase in legal and professional fees.
Other expenditure movements include premises expenses decreasing by £68k, following the need to rent less office space as the majority of our employees now work from home. Fundraising costs have increased due to fees paid to fundraising consultants. Special Olympics International accreditation fees have decreased in the year, due to an early payment discount received.
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Financial review - continued**
Income within the year has increased by 6%. Sponsorship income has increased from £196k to £256k largely due to a new partnership secured with bed retailer Dreams. Subscriptions and training fees have increased during the period, mainly as a result of the easing of Covid-19 restrictions and branches being able to open for training once again.
There have been no fundraising events during the period covered by this report, and the cost of day-to-day promotional work and activities (designed primarily to increase the number of participating athletes) has decreased by £10k.
Consolidated net assets as at 31st December 2021 across the SOGB National office and regions were approximately £1,010k. Debtors as of 31st December 2021 have increased by £11k, due to a rise in prepayments relating to the 2022 World Winter Games. In addition, accruals and deferred income have increased by £168k at 31st December 2021, due in part to fundraising surrounding the World Winter Games.
## **Principal funding sources**
Within our commercial space we welcomed a 3-year deal with Olympic and Paralympic partners Dreams as well as Ocean Outdoor. It also saw further engagment with exisiting partners Fuller's Smith & Turner and Mitsibushi Electric.
From Unified Sport events – both virtual and physical – to providing platforms for our athlete’s stories to be shared, increased interaction and engagement with our Special Olympics GB Athlete Leadership Team and a variety of volunteering opportunities being offered, we will work together to deliver maximum engagement and purpose for Special Olympics GB and our partner's.
We continued to strengthen our relationships with our colleagues at Special Olympics International and Special Olympics Europe Eurasia, as well as, Sport England and the UK Government through the Department of Media Culture and Sport. We engaged in insights regarding the World Summer Games bidding process which provided us with opportunities to learning more about bidding and the key elements that are required to host a World Summer Games.
The Board of Directors would like to extend their sincere thanks to all its corporate partners, sponsors, donors and Ambassadors for their continued generous support.
**Official Partners:** Coca-Cola GB, Coca-Cola European Partners, Fuller’s Smith & Turner, Mitsubishi Electric, Kerry Group and Two Circles
**Supporters:** Peter Harrison Foundation, Bailey Thomas Foundation, Social Investment Business, Lions Clubs International (MD105), Simpson Wreford & Partners, SO Europe Eurasia Foundation, SOI, Sport England, ESPN, Hasbro
**Global Ambassadors:** Nicole Scherzinger, Avil Lavigne, Didier Drogba, Chris Pratt, Katherine Schwatzenegger and Drew MacIntyre.
**Honorary President:** Lawrie McMenemy MBE
**Celebrity Ambassadors:** Jim Carter and Jessie Pavelka
**Champion Advocates of Special Olympics GB:** Greg Silvester, Katharine Merry, Jo Pavey, Chris Kamara, Jason Garderner MBE and Graham Bell
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## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Annual Report of the Trustees (continued) for the year ended 31st December 2021**
## **Reserves policy**
The Directors have adopted a policy whereby 'free' reserves (i.e. general funds in excess of amounts invested in fixed assets held for charity use) should be maintained, which at least amount to six months expenditure on the core National Development Office, not covered by related income or specific donations. Whilst National Development Office expenditure varies from year to year, it is felt that minimum reserves of around £340k need to be maintained in order to satisfy this policy. This amount is in addition to reserves held by regions, which are used for local activities and are not available for the funding of national development activities in the normal course of events. Further improvement of financial stability and growth is needed to achieve this aspirational policy in the coming years.
## **Plans for future periods**
We will continue to focus on strenghtening the organisation post pandemic and look to enhance our sport, training, competitions and delivery structure as per our 2021-2024 Strategic Plan, 'Inclusion in Action'. We will look at more efficient ways of operating to ensure simplicity and ease of access to our activities. We will look to diversify our income streams to promote thriving sustainability.
Our strategy has firmly placed athletes at the heart of SOGB, with a clear vision to drive sustainability and growth across every aspect of the organisation, while increasing our advocacy and influence externally to help more of the 1.5 million people living with an intellectual disability in Great Britain today. We will tell more stories to showcase our athletes, volunteers, families and corporate partners to demonstrate Inclusion in Action.
We will continue to listen to our membership, we understand that it is important for us to have a clear competition advancement pathway to ensure that there are opportunities for our athletes of all abilities to compete at all levels. We will implement our new Guide to Competition in line with Inclusion in Action by delivering a Summer Series of Sport culminating in a varity of sports events across the country.
This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities and the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Signed on behalf of the board
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P Richardson Director Approved by the Board: 2022
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## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPECIAL OLYMPICS GREAT BRITAIN**
## **Opinion**
We have audited the financial statements of Special Olympics Great Britain (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Parent Charitable Company Balance Sheet, the Group and the Parent Charitable Company Cash Flow Statement 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 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 Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group's and parent charitable company's affairs as at 31st December 2021, 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 Companies Act 2006 and the Charities Act 2011.
## **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 Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company 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 group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve 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.
## **Other information**
The other information comprises the information included in the annual report of the trustees, other than the financial statements and our auditor’s 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, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 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 this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPECIAL OLYMPICS GREAT BRITAIN (continued)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities set out on pages 2 and 3, the trustees (who are also the directors of the parent charitable company for the purposes of company law) 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 group's and parent charitable company'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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.
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 a Report of the Independent Auditors 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.
Irregularities, including fraud, are instances of non-compliance 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 irregularities, including fraud is detailed below:
- We obtained an understanding of the legal and regulatory framework applicable to the group and the sector in which it operates, through discussions with management and those charged with governance, and also from our detailed understanding of the sector. We identified the financial reporting framework including but not limited to (United Kingdom Generally Accepted Accounting Practice, The Charities Act 2011 and the Companies Act 2006), Data Protection Act 2018, Bribery Act 2010, The Children Act 1989 and 2004 and The Safeguarding Vulnerable Groups Act 2006 being of significance in the context of Special Olympics Great Britain and its ongoing activities.
- We made enquiries with management and those charged with governance and also reviewed board meeting minutes to confirm our understanding that the group continued to comply with the applicable legal and regulatory frameworks, and also to confirm our understanding of the specific policies and procedures enlisted by the group to ensure ongoing compliance.
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## **INDEPENDENT AUDITORS' REPORT TO THE**
## **MEMBERS OF SPECIAL OLYMPICS GREAT BRITAIN (continued)**
- We assessed the susceptibility of the group’s financial statements to material misstatement, including how fraud may occur, and gained an understanding of the group’s policies and procedures on fraud risks through discussion with the group’s management.
- We considered the risk of material misstatement due to fraud as a result of possible management override of controls, and improper revenue recognition. To address these risks we tested the appropriateness of journal entries posted, reviewed those judgements made in making accounting estimates, and tested the application of revenue recognition and the cut-off of revenue.
- We communicated those laws and regulations considered relevant to the group, and potential fraud risks to all engagement team members, and consider that the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations, and remained alert to any indications of fraud throughout the audit.
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company's members, 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 charitable company's members those matters we are required to state to them in an auditors' 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Alasdair Weaks (Senior Statutory Auditor)
for and on behalf of Simpson Wreford & Partners, Chartered Accountants & Statutory Auditors Suffolk House, George Street, Croydon, CR0 0YN
202231 October
12
## **SPECIAL OLYMPICS GREAT BRITAIN (Registered number 2301452)**
## **Consolidated Statement of Financial Activities**
**(including Income and Expenditure Account) for the year ended 31st December 2021**
|Unrestricted
Funds
Notes
£
**INCOME FROM**
Grants, donations and legacies
2
492,365
Sponsorship income
255,425
Fundraising events and activities
17,013
**Charitable activities:**
Sporting events
3
46,682
Subscriptions and training fees
86,640
Investment income
1,086
Other miscellaneous income
16,296
**Total income**
915,507
**EXPENDITURE ON**
**Costs of raising funds:**
Voluntary income, fundraising events and activities
106,966
**Charitable activities:**
Awareness and promotional costs
119,045
Sporting events, conferences and training
737,026
**Total expenditure**
4
963,037
6
(47,530)
Transfers between funds
-
**NET MOVEMENT IN FUNDS**
(47,530)
**RECONCILIATION OF FUNDS**
Total funds brought forward
968,276
Balances relating to groups transferred
1
-
**TOTAL FUNDS CARRIED FORWARD**
920,746
**NET INCOME/(EXPENDITURE)**|Restricted
Funds
£
200,558
-
814
-
-
-
-
201,372
-
7,072
165,704
172,776
28,596
-
28,596
60,929
-
89,525|Total funds
Year to
31st Dec
2021
£
692,923
255,425
17,827
46,682
86,640
1,086
16,296
1,116,879
106,966
126,117
902,730
1,135,813
(18,934)
-
(18,934)
1,029,205
-
1,010,271|Total funds
Year to
31st Dec
2020
£
584,028
196,250
203,739
4,458
61,143
161
6,841
1,056,620
45,833
69,971
909,768
1,025,572
31,048
-
31,048
1,031,412
(33,255)
1,029,205|
|---|---|---|---|
All the above results are derived from continuing operations.
The notes on pages 16 to 29 form part of these financial statements.
13
## **SPECIAL OLYMPICS GREAT BRITAIN (Registered number 2301452)**
**Consolidated Balance Sheet 31st December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
11
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
13
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2021
2020
£
£
£
£
12,578
7,573
12,578
7,573
67,667
56,296
1,652,142
1,422,007
1,719,809
1,478,303
566,197
408,239
1,153,612
1,070,064
1,166,190
1,077,637
(155,918)
(48,432)
1,010,272
1,029,205
920,747
968,276
89,525
60,929
1,010,272
1,029,205|
|---|---|
These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
31 October
The financial statements were approved and authorised for issue by the Board on 202231 October
Signed on behalf of the board of trustees
**----- Start of picture text -----**
………………………………………..
P Richardson
Director
**----- End of picture text -----**
**----- Start of picture text -----**
………………………………………..
**----- End of picture text -----**
Director
The notes on pages 16 to 29 form part of these financial statements.
14
## **SPECIAL OLYMPICS GREAT BRITAIN (Registered number 2301452)**
## **Company Balance Sheet 31st December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
8
Investments
9
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
11
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
13
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2021
2020
£
£
£
£
12,578
7,573
1
1
12,579
7,574
203,189
33,184
1,474,577
1,415,450
1,677,766
1,448,634
523,744
378,160
1,154,022
1,070,474
1,166,601
1,078,048
(155,918)
(48,432)
1,010,683
1,029,616
921,158
968,687
89,525
60,929
1,010,683
1,029,616|
|---|---|
These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved and authorised for issue by the Board on 202231 October
Signed on behalf of the board
**----- Start of picture text -----**
………………………………………..
P Richardson
Director
**----- End of picture text -----**
**----- Start of picture text -----**
………………………………………..
Director
**----- End of picture text -----**
The notes on pages 16 to 29 form part of these financial statements.
15
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Consolidated Statement of Cash Flows and Company Statement of Cash Flows for the year ended 31st December 2021**
|**Cash generated from operating activities**
Net movement in funds
Depreciation of tangible assets
Interest receivable and similar income
Interest payable and similar charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash generated from operating activities**
**Cash flows from investing activities**
Purchase of tangible fixed assets
Cash movement on branch (leaving)/joining network
Sale of tangible fixed assets
Interest received
**Cash used in investing activities**
**Cash flows from financing activities**
Bank loan repaid
Bank loan received
**Net cash from financing activities**
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|Group
2021
£
(18,934)
4,733
(1,086)
-
(11,371)
135,444
**108,786**
(9,738)
-
-
1,086
**(8,652)**
(50,000)
180,000
**130,000**
**230,134**
1,422,007
**1,652,141**|Group
2020
£
31,048
3,028
(161)
-
27,888
87,620
**149,423**
(8,825)
(33,255)
148
161
**(41,771)**
-
50,000
**50,000**
**157,652**
1,264,355
**1,422,007**|Charity
2021
£
(18,934)
4,733
(1,086)
-
(170,005)
123,070
**(62,222)**
(9,738)
-
-
1,086
**(8,652)**
(50,000)
180,000
**130,000**
**59,126**
1,415,450
**1,474,576**|Charity
2020
£
31,048
3,028
(161)
-
49,509
60,714
**144,138**
(8,825)
(33,255)
148
161
**(41,771)**
-
50,000
**50,000**
**152,367**
1,263,083
**1,415,450**|
|---|---|---|---|---|
16
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 1. **ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.
## **Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
The financial statements have been prepared in sterling, the functional currency of the charity, and monetary amounts in these financial statements have been rounded to the nearest £.
Special Olympics Great Britain 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.
## **Legal status of the charity**
The charity is a company limited by guarantee (incorporated in England and Wales) and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. Its registered office and head office addresses are listed on page 1 of these financial statements.
## **Going concern**
Whilst the charity has some permanent funding arrangements to cover its costs and sporting events that are largely self-financing, the charity has historically required additional donated income to cover expenditure by the National Office. Sponsorship and donations have historically been forthcoming and, although it could not be guaranteed, the derived income would be sufficient to cover the projected regular expenditure by the National Office as it arose. At the end of 2021 the Board have no reason to believe this situation will not continue.
During the year the exciting significant longer term sponsorship has largely continued and some additional multiyear and one-off funding by trusts, foundations, companies and Sport England have been obtained, extending support for national (rather than regional) purposes.
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Board therefore considers it appropriate to prepare the accounts on the going concern basis given the charitable operations, current projections and historic performance.
## **Basis of consolidation**
The financial statements consolidate the results of Special Olympics Great Britain and its wholly owned subsidiary SOGB Promotions Limited, up to 31 December each year on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for charity has not been presented because the charity has taken advantage of the exemption afforded by the Companies Act 2006, s. 408.
Following the definition of branch activities given by the Statement of Recommended Practice, the accounts include the activities of the National Development Office and those groups, which have been brought together in regional consolidations, whose operations are considered to be wholly dedicated to the activities of Special Olympics Great Britain. Inevitably the groups which are considered to fall within this definition (as set out in note 23a) will vary from time to time resulting in transfers of funds in or out of the consolidated accounts.
## **Funds accounting**
(i) Unrestricted fund
The general fund consists of those funds which are available to spend on activities that further any of the purposes of the charity.
17
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 1. **ACCOUNTING POLICIES (continued)**
## **Funds accounting (continued)**
## (ii) Designated funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
## (iii) Restricted funds
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost 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.
## **Income**
Items of income are recognised and included in the accounts when all of the following criteria are met:
- The charity or its subsidiary have entitlement to the funds;
- Any performance conditions attached to the items of income have been met or are fully within the control of
- the charity or its subsidiary; and
- There is sufficient certainty that receipt of the income is considered probable and measured reliably.
Specific accounting policies for income recognition are as follows:
## (i) Grants receivable
Grants receivable are credited to the Statement of Financial Activities on an accruals basis with grants received for specific purposes treated as restricted income.
## (ii) Donations and gifts
All monetary donations and gifts are credited to the income and expenditure account in the period of receipt. Donations under Gift Aid together with the associated income tax recoveries are credited to the income and expenditure account when the donations are received.
(iii) Charitable activities
Incoming resources from charitable activities are accounted for when earned.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Salaries have been allocated on the basis of time spent and other cost allocations reflect estimates of the resources consumed by the activity. The main categories of expenditure are as follows:
(i) Fundraising costs are incurred in generating contributions to the charity. This largely involves actively seeking donors and sponsors, but also includes the costs incurred in holding events by the charity and activities carried out by individuals that result in funds being raised.
(ii) The costs of charitable activities relate to the charity's sports programme. This involves training and competitive activities together with 'awareness and promotional' activities which have the main intention of increasing the number of people benefitting from the charity's activities. The cost of sports kit purchased is partially offset by sales of small amounts of kit and related merchandise.
18
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 1. **ACCOUNTING POLICIES (continued)**
## **Sporting events**
Income and expenditure relating to specific sporting events are included in the accounts in the financial period during which the event takes place.
## **Tangible fixed assets**
Tangible fixed assets are stated at historical cost less accumulated depreciation less any accumulated impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant, equipment, fixtures and fittings - 15% p.a. on cost Computer equipment and software - 25% p.a. on cost
Assets are capitalised where their useful economic life is expected to be greater than one year.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Financial Activities.
## **Investments in subsidiaries**
Investments in subsidiaries are recognised at cost less accumulated impairment.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## **Cash and bank**
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Financial instruments**
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans with related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activities.
## **Pension costs**
The charity contributes to a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Operating leases**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
19
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 1. **ACCOUNTING POLICIES (continued)**
## **Taxation**
The company is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
## **Foreign currencies**
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All adjustments are taken to the Statement of Financial Activities.
## 2. **INCOME FROM GRANTS, DONATIONS & LEGACIES**
|Grants from Sport England
Grants from Special Olympics International
Grants from Trusts and Foundations
Donations
Corporate income|Unrestricted
funds
£
184,088
47,414
96,943
130,528
33,392
492,365|Restricted
funds
£
46,172
64,386
90,000
-
-
200,558|Total funds
Year to
31st Dec
2021
£
230,260
111,800
186,943
130,528
33,392
692,923|Total funds
Year to
31st Dec
2020
£
218,606
8,111
344,534
12,777
-
584,028|
|---|---|---|---|---|
## 3. **INCOME FROM CHARITABLE ACTIVITIES**
|**Sporting events**
Other events
Regional events|Unrestricted
funds
£
-
46,682
46,682|Restricted
funds
£
-
-
-|Total funds
Year to
31st Dec
2021
£
-
46,682
46,682|Total funds
Year to
31st Dec
2020
£
4,458
-
4,458|
|---|---|---|---|---|
20
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 4. **EXPENDITURE**
|**Costs of raising funds:**
Fundraising events and activities costs
Support costs for fundraising activities
**Total cost of raising funds**
**Charitable activities:**
Event costs
Sports kit, equipment and training
_General support:_
Salaries and staff costs
Travel and subsistence
Premises expenses
IT & telephone costs
Printing, postage and stationery
Entertainment
Subscriptions
Sundry expenses
SOI accreditation fees
Depreciation
Profit/(Loss) on disposal of asset
_Governance:_
Legal and professional fees
Consultancy fees
Accountancy
Audit fees
Staff recruitment and training
Bank charges and interest
**Total expenditure on charitable activities**
**Total expenditure**|Fundraising
£
15,502
91,464
106,966
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
106,966|Awareness
& promotion
£
-
-
-
8,375
-
88,784
1,853
-
6,780
55
-
41
-
-
-
-
-
20,229
-
-
-
-
126,117
126,117|Sports
programme
£
-
-
-
108,332
75,390
402,565
11,808
38,027
18,333
8,929
606
1,204
11,832
11,418
4,733
-
103,782
16,854
34,450
29,428
12,989
12,049
902,729
902,729|Total
Year to
31st Dec
2021
£
15,502
91,464
106,966
116,707
75,390
491,349
13,661
38,027
25,113
8,984
606
1,245
11,832
11,418
4,733
-
103,782
37,083
34,450
29,428
12,989
12,049
1,028,846
1,135,812|Total
Year to
31st Dec
2020
£
12,981
32,852
45,833
93,073
59,879
471,981
9,384
105,964
20,576
8,801
87
2,868
18,209
18,867
3,028
148
46,066
52,779
33,092
24,751
9,196
990
979,739
1,025,572|
|---|---|---|---|---|---|
21
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 5. **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME**
Grants, donations and legacies
Sponsorship
Fundraising events and activities
**Charitable activities:**
Sporting events
Subscriptions and training fees
Investment income
Other miscellaneous income
**Total income**
**EXPENDITURE**
**Costs of raising funds**
Voluntary income, fundraising events and activities
**Charitable activities:**
Awareness and promotional costs
Sporting events, conferences and training
**Total expenditure**
Transfers between funds
**NET MOVEMENT IN FUNDS**
Total funds brought forward
Balances regarding groups transferred
**TOTAL FUNDS CARRIED FORWARD**
6.
**NET INCOME**
Net income is stated after charging:
Depreciation of tangible fixed assets
Rental costs under operating leases:
Office equipment
Other
Auditors' remuneration (including regions):
Audit fees
Non-audit fees
Audit - accounts of subsidiary company
**NET INCOME**|Unrestricted
Funds
£
317,468
196,250
203,739
4,458
61,143
161
6,841
790,060
45,833
69,971
476,200
592,004
198,056
-
198,056
803,475
(33,255)
968,276|Restricted
Funds
£
266,560
-
-
-
-
-
-
266,560
-
-
433,568
433,568
(167,008)
-
(167,008)
227,937
-
60,929
Year to
31st Dec
2021
£
4,733
-
18,480
10,000
11,960
4,453|Total funds
Year to
31st Dec
2020
£
584,028
196,250
203,739
4,458
61,143
161
6,841
1,056,620
45,833
69,971
909,768
1,025,572
31,048
-
31,048
1,031,412
(33,255)
1,029,205
Year to
31st Dec
2020
£
3,028
-
88,179
10,000
10,648
4,103|
|---|---|---|---|
22
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 7. **STAFF COSTS AND NUMBERS**
|Staff costs were as follows:
Salaries
Social security costs
Pension costs|Year to
31st Dec
2021
£
449,199
41,424
15,283
505,906|Year to
31st Dec
2020
£
440,210
38,869
14,038
493,117|
|---|---|---|
Included within the above salary figures is a settlement amount of £6,917 (2020 - £0) paid to a former employee. This amount has been recognised in the Statement of Financial Activities upon settlement.
The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows:
|£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000|2021
1
-
-
1|2020
-
-
1
1|
|---|---|---|
During the year, the charity incurred costs totalling £145,631 (2020: £100,570), including employer's NIC and employer's pension, in respect of key management personnel.
The average monthly number of employees during the period, on the basis of full time equivalents was as follows:
|Key management
Fundraising and sports development
Finance and administration|2021
2
7
1
10|2020
1
7
1
9|
|---|---|---|
## 8. **TANGIBLE FIXED ASSETS**
|**The Group and the company:**
**COST**
At 1st January 2021
Additions
Disposals
At 31st December 2021|Plant, equipment
fixtures &
Computer
fittings
Total
£
£
£
86,248
1,465
87,713
9,738
-
9,738
(76,306)
(189)
(76,495)
19,680
1,276
20,956|
|---|---|
23
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 8. **TANGIBLE FIXED ASSETS (continued)**
|**The Group and the company:**
**DEPRECIATION**
At 1st January 2021
Charge for period
Eliminated on disposal
At 31st December 2021
**NET BOOK VALUE**
At 31st December 2021
At 31st December 2020|Plant, equipment
fixtures &
Computer
fittings
Total
£
£
£
79,506
634
80,140
4,541
192
4,733
(76,306)
(189)
(76,495)
7,741
637
8,378
11,939
639
12,578
6,742
831
7,573|
|---|---|
## 9. **FIXED ASSETS - INVESTMENTS**
The charity holds 100% of the share capital of its subsidiary company SOGB Promotions Limited (company no. 04399613), a company registered in England and Wales. SOGB Promotions Limited pays all of its taxable profits to the charity under the gift aid scheme.
The total gift aid donation paid from the profits in the year was £172,453 (2020 - £181,178). A summary of its income and expenditure, assets, liabilities and funds is as follows:
|Revenue - grants and sponsorship
Expenditure - administrative expenses
Total comprehensive income
Total assets
Total liabilities
Net liabilities
**DEBTORS**
Other debtors
Due from subsidiary
Prepayments and accrued income
All debtors are due within one year|2021
2020
£
£
4,400
33,017
-
-
63,267
23,279
67,667
56,296
The Group|2021
2020
£
£
255,425
196,250
255,425
196,250
-
-
183,815
56,439
(184,225)
(56,849)
(410)
(410)
2021
2020
£
£
4,400
10,526
141,772
-
57,017
22,658
203,189
33,184
The Company|
|---|---|---|
## 10. **DEBTORS**
|**CASH AT BANK AND IN HAND**
Held by national office
Held by regions|2021
2020
£
£
485,709
272,504
1,166,433
1,149,503
1,652,142
1,422,007
The Group|2021
2020
£
£
308,144
265,947
1,166,433
1,149,503
1,474,577
1,415,450
The Company|
|---|---|---|
## 11. **CASH AT BANK AND IN HAND**
24
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
|12. **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts
Due to subsidiary
Other creditors
Accruals and deferred income|2021
2020
£
£
24,082
1,568
-
-
250,507
282,897
291,608
123,774
566,197
408,239
The Group|2021
2020
£
£
24,082
1,568
-
26,770
225,387
262,131
274,275
87,691
523,744
378,160
The Company|
|---|---|---|
Within accruals and deferred income is deferred income of £263,648 (2020 - £83,835). This is comprised of £56,413 (2020 - £18,991) relating to future sporting events, sponsorship income of £13,333 (2020: £32,083) and grant income of £193,902 (2020 - £32,761). In the year £64,845 (2020 - £30,683) of income was released into revenue in the Statement of Financial Activities.
|13. **CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**
**ONE YEAR**
Bank loans and overdrafts|2021
2020
£
£
155,918
48,432
155,918
48,432
The Group|2021
2020
£
£
155,918
48,432
155,918
48,432
The Company|
|---|---|---|
The bank loan is repayable in monthly instalments over 5 years. Interest is payable on the loan of 7% with the first year being interest free.
|14. **FUNDS**
**UNRESTRICTED FUNDS**
**The company**
General - national office
General - regions
Designated - National Grid Development
**The group**
General - national office
General - regions
Designated - National Grid Development
Subsidiary reserves|Balance at
1st January
2021
£
(258,934)
1,207,722
19,899
968,687
(258,934)
1,207,722
19,899
968,687
(411)
968,276|Increases
£
613,212
219,173
-
832,385
613,212
219,173
-
832,385
255,575
1,087,960|Decreases
£
(678,118)
(201,796)
-
(879,914)
(678,118)
(201,796)
-
(879,914)
(255,575)
(1,135,489)|Transfers
£
-
-
-
-
-
-
-
-
-
-|Balance at
31st Dec
2021
£
(323,840)
1,225,099
19,899
921,158
(323,840)
1,225,099
19,899
921,158
(411)
920,747|
|---|---|---|---|---|---|
The designated National Grid Development fund relates to the charity's previous partnership with National Grid who helped the charity establish itself as a lead sports organisation for people with intellectual disabilities in Great Britain by providing small grants to SOGB grass-roots clubs in order to develop and create opportunities for athletes at a local level.
25
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts**
## **for the year ended 31st December 2021**
## 14. **FUNDS (continued)**
|**RESTRICTED FUNDS**
**The company and the group**
Athlete leadership
Inclusive Sport Project / NDSO 2017-20
MATP
Network Development
Play Unified Sports Project
Safeguarding
SNF Sport Evaluation
Unified Schools
UPS|Balance at
1st January
2021
£
-
22,202
23,802
-
-
-
-
14,925
-
60,929|Increases
£
32,338
46,172
-
70,000
31,399
5,256
2,397
13,810
-
201,372|Decreases
£
(9,896)
(68,374)
(23,802)
(24,468)
(12,833)
(5,430)
-
(27,973)
-
(172,776)|Transfers
£
-
-
-
-
-
-
-
-
-
-|Balance at
31st Dec
2021
£
22,442
-
-
45,532
18,566
(174)
2,397
762
-
89,525|
|---|---|---|---|---|---|
Within the year, funding was received from Special Olympics International (£5,428), United Airlines (£6,096) and the Peter Harrison Foundation (£20,000) for the Athlete Leadership project. Fundraising income £814, was also raised within the year. The Athlete Leadership project aims to prepare athletes for leadership roles inside and outside the movement and to educate people without disabilities on how to make this happen.
The funding of the 'Inclusive Sport Project' was extended within the year. This project aims to develop the inclusion in sport of people with intellectual disabilities. Income was received from Sport England (£46,172). This grant has been received via Sport England's National Disability Sport Organisation funding (NDSO).
The Motor Activities Training Programme (MATP) is a unique programme for athletes of all ages with profound intellectual disabilities and complex needs. The programme provides meaningful sport and physical activity for all to access.
The charity received income of £70,000 from The Social Investment Business Ltd. This amount is solely for the purpose of supporting the cost of employing two Network Development Managers.
The Unified Sport Project aims to encourage joint activities by persons with and without intellectual disabilities. Within the year funding of £22,886 was received from ESPN and £8,513 from Toyota Motor Europe.
The safeguarding fund received income of £5,256 from Porticus within the year. This income is to increase awareness about healthy relationships and safeguarding.
The charity received in the year income of £2,397 from Stavros Niarchos Foundation. This income is used by the charity to participate in the sport evaluation and coach programming project and for the gathering of baseline data of coaches and athletes.
Special Olympics Unified Schools brings together people with and without intellectual disabilities to work across a range of different sporting activities to promote social inclusion. During the year funding of £13,810 was received from Hasbro for this programme.
The UPS fund is made up of a regional partnership whose goal is to create new access points for Special Olympics Europe Eurasia and Special Olympics National Programs.
26
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
|15.**COMPARATIVE MOVEMENTS IN FUNDS**
**UNRESTRICTED FUNDS**
**The company**
General - national office
General - regions
Designated - National Grid Development
**The group**
General - national office
General - regions
Designated - National Grid Development
Subsidiary reserves
**RESTRICTED FUNDS**
**The company and the group**
Transforming Capacity
Inclusive Sport Project / NDSO 2017-20
Unified Schools
MATP
17. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Restricted funds**
Athlete leadership
Inclusive Sport Project / NDSO 2017-20
MATP
Network Development
Play Unified Sports Project
Safeguarding
SNF Sport Evaluation
Unified Schools
UPS
**Unrestricted funds**|Balance at
1st January
2020
£
(401,598)
1,185,585
19,899
803,886
(401,598)
1,185,585
19,899
803,886
(411)
803,475
Balance at
1st January
2020
£
105,698
85,770
-
36,469
227,937
Tangible
Fixed
Assets
£
-
-
-
-
-
-
-
-
-
-
12,758
12,758|Increases
£
519,642
255,346
-
774,988
519,642
255,346
-
774,988
196,250
971,238
Increases
£
150,000
68,606
14,925
33,029
266,560
Current
Assets
£
24,428
17,031
-
47,542
32,261
(174)
2,397
794
5,147
129,426
1,590,383
1,719,809|Decreases
£
(376,978)
(199,954)
-
(576,932)
(376,978)
(199,954)
-
(576,932)
(196,250)
(773,182)
Decreases
£
(255,698)
(132,174)
-
(45,696)
(433,568)
Current
Liabilities
£
(1,986)
(17,031)
-
(2,010)
(13,695)
-
-
(32)
(5,147)
(39,901)
(526,296)
(566,197)|Transfers
£
-
(33,255)
-
(33,255)
-
(33,255)
-
(33,255)
-
(33,255)
Transfers
£
-
-
-
-
-
Long term
Liabilities
£
-
-
-
-
-
-
-
-
-
-
(155,918)
(155,918)|Balance at
31st Dec
2020
£
(258,934)
1,207,722
19,899
968,687
(258,934)
1,207,722
19,899
968,687
(411)
968,276
Balance at
31st Dec
2020
£
-
22,202
14,925
23,802
60,929
Total
£
22,442
-
-
45,532
18,566
(174)
2,397
762
-
89,525
920,927
1,010,452|
|---|---|---|---|---|---|
27
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 18. **RETIREMENT BENEFIT SCHEME**
The charity operates a defined contribution pension scheme for all qualifying employees. These assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to the Statement of Financial Activities in respect of defined contribution schemes was £15,283 (2020 - £14,038).
## 19. **TRUSTEES**
The directors (who are also trustees) did not receive any remuneration for their services during the current or previous period. There were no travel and subsistence cost reimbursed within the year (2020 - £861 to three directors).
|**FINANCIAL INSTRUMENTS**
**Financial assets**
**Financial liabilities**
Financial liabilities measured at amortised
cost
Financial assets at fair value through profit or
loss
Financial assets that are debt instruments
measured at amortised cost|2021
2020
£
£
1,652,142
1,422,007
4,400
33,017
1,656,542
1,455,024
278,467
322,836
The Group|2021
2020
£
£
1,474,577
1,415,450
146,172
10,526
1,620,749
1,425,976
246,328
288,224
The Company|
|---|---|---|
## 20. **FINANCIAL INSTRUMENTS**
Financial assets measured at fair value through profit or loss comprise bank and cash in hand.
Financial assets that are debt instruments measured at amortised cost include amounts due from subsidiary companies, other debtors, and accrued income.
Financial liabilities measured at amortised costs comprise bank overdrafts, amounts due to group companies other creditors and accruals.
## 21. **RELATED PARTY TRANSACTIONS**
The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
There were no other related party transactions requiring disclosure in either the current or prior years.
28
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 22. **REGIONS AND THEIR GROUPS**
The regions and groups accredited by Special Olympics Great Britain are as follows:-
## a. **Branches**
Regions and their groups whose operations are considered to be wholly dedicated to the activities of Special Olympics and whose results and balances should therefore be included in these consolidated accounts, are as follows:-
## **YORKS/HUMBERSIDE**
City of Hull City of York Dearne Valley North Yorkshire Sheffield Wakefield
## **WEST MIDLANDS**
City of Birmingham Coleshill Coventry North Shropshire North Staffordshire Redditch Sandwell Solihull Stafford Sutton Coldfield Telford & Shropshire West Midlands Golf West Midlands Ski Wolverhampton Worcestershire
## **NORTH WEST**
## **EASTERN**
Bury East Hertfordshire Cheshire East Norfolk Cheshire North & West Peterborough Ellesmere Port, Chester & Neston St. Albans Greater Manchester Suffolk Merseyside **EAST MIDLANDS NORTHERN** Derbyshire Gateshead, Tyne and Wear East Midlands Equestrian Group Skelton/Cleveland Leicestershire & Rutland Sunderland Lincolnshire Teesdale Mansfield
**SOUTH EAST** Brighton & Hove Eastbourne Hastings & Rother Orpington Sharks Oak Grove College (Worthing) to September 2021. South East Region Ski Surrey
## **WALES**
Cardiff and Vale North East Wales Powys Swansea NPT West Wales
## **SOUTHERN**
Bournemouth & District Isle of Wight Jersey South East Hampshire
**GREATER LONDON SOUTH WEST** Camden Cornwall Greater London Gymnastics Exeter & District Harrow Gloucestershire North London North Devon (Barnstaple) Plymouth & District
## **SCOTLAND**
The branches in Scotland, which are: Dumfries & Galloway, Grampian, Highland, Lothian, Scotland West and Tayside, are recognised as Scottish charities and report to the Office of the Scottish Charity Regulator, in line with Scottish charity law.
29
## **SPECIAL OLYMPICS GREAT BRITAIN**
## **Notes to the accounts for the year ended 31st December 2021**
## 22. **REGIONS AND THEIR GROUPS (continued)**
## b. **Associates**
Those groups that are accredited by Special Olympics Great Britain, but whose activities and accounts include the support of many other charities and are therefore not included in these consolidated accounts are as follows:-
## **SOUTHERN**
Basingstoke Electric Eels (Windsor) Guernsey Special Gym Club Reading Cygnets Southampton OTARS SNUGS (Milton Keynes)
## **NORTH WEST**
Blackpool Polar Bears Bryn Specials Badminton Club Rossendale Special Ski Club
## **SCOTLAND**
Forth Valley
## **SOUTH EAST**
South East Kent
## **NORTHERN**
Beamish Dynamos (North Durham) Northern Region Judo
## **YORKS/HUMBERSIDE**
Able2 Pontefract BKS Athletics Borough of Kirklees Bradford Disability Sport & Leisure Harrogate Gateway FC Leeds Stars Pontefract Collieries FC York Tennis Ability
## **SOUTH WEST**
Bristol Sharks
**WEST MIDLANDS** Midland Mencap
**EASTERN** Essex