Company registration number: 02370578 Charity registration number: 802385
## **THE BRITISH PARALYMPIC ASSOCIATION**
**(Limited by Guarantee)**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**For the year ended**
**31 MARCH 2024**
## **CONTENTS**
||Legal and Administrative Information|2|
|---|---|---|
||Trustees’ Report|3|
||Report of the Independent Auditors|21|
||Consolidated Statement of Financial Activities|23|
|.|||
||Balance Sheets|24|
||Consolidated Statement of Cash Flows|25|
||Notes to the Consolidated Financial Statements|26|
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## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Charity name:**
_Also known as:_
**Charity registration number**:
**Company registration number:**
**Registered office**
**Trustees and Directors**
**Chief Executive Officer**
**Company Secretary**
**Executive Team**
**Auditors**
**Bankers**
**Solicitors**
**Website address**|The British Paralympic Association
ParalympicsGB
BPA
802385
02370578
101 New Cavendish Street
London
W1W 6XH
Nick Webborn CBE DL
Chair
Pippa Britton OBE
Vice Chair
Christopher Brown
Senior Independent Director
Kate Adams
Graham Edmunds
Steve Ingham CBE
Sally Hancock
Fred Hargreaves OBE
Helene Raynsford
David Ross
Helen Rowbotham
Anne Wafula Strike MBE
David Clarke OBE
Adrian Stockman
David Clarke OBE, CEO
Adrian Stockman, Director of Finance and Corporate Services
Penny Briscoe OBE, Director of Sport
Verity Naylor MBE, Director of Operations
Jenny Seymour, Commercial Director
Anna Scott-Marshall, Director of Communications
Price Bailey
3rd Floor
24 Old Bond St
London
W1S 4AP
HSBC
21 High Street
Purley
Surrey
CR8 2RW
Hogan Lovells
Atlantic House
Holborn Viaduct
London
EC1A 2FG
http://paralympics.org.uk|
|---|---|
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their annual report together with the audited financial statements for the year ended 31 March 2024. This Trustees Report is a Directors Report as required by s415 of the Companies Act 2006.
All legal and administrative information relating to the British Paralympic Association can be found on page 2 of the annual accounts.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Association is a charitable company limited by guarantee and registered as a charity. The Association is bound by its Articles of Association. These were most recently updated at the Annual General Meeting on 20 November 2019 (copies available on the Company’s website).
The purpose of the Association is to select, prepare, enter, fund, and manage the Great Britain and Northern Ireland team at the Paralympic Games and to use the positive power of ParalympicsGB athletes to inspire a better world for disabled people. This responsibility reflects the Association’s charitable objects and is delivered in line with its values: Excellence, Respect, and Integrity.
The development of the Association is the responsibility of the Board with advice from the National Paralympic Committee (membership of the Association). The management team under the CEO holds executive responsibility for implementing the policies and strategies approved by the Board. All Board meetings were well attended and quorate in the year.
The Board may delegate all or any of the powers conferred on them under the Articles to a committee consisting of one or more of the Directors. A Finance and Audit Committee is established under this power. Delegated authority also resides currently with a Qualification and Selection Panel, Awards and Protocols Panel, and a Deals Panel whilst other Board sub-groups such as the Sport Committee, Social Impact Committee, International Relations Committee, Development Committee, Remuneration Committee, Nominations Committee and Classification Advisory Group, exist in an advisory capacity to the Board. This structure was last reviewed by the BPA Board in April 2024. All committees, groups and panels have appropriate terms of reference, which are regularly reviewed, and all maintain a record of meetings and decisions.
The corporate membership of the Association (voting or non-voting) is open to any British governing body of Paralympic sport, national disability sport body and Home Nation disability sport federation, subject to the constraints of the constitution and acceptance by the Board. Individual membership of the Association (voting or non-voting) is open to honorary members, life members and ordinary members, subject to the constraints of the constitution and acceptance by the Board.
The Trustees of the Association are also the directors for the purposes of company law and comprise:
- a) The Chair (Appointed by the Board following an open, public recruitment process).
- b) Six individuals elected by the Voting Members.
- c) Up to four members appointed by the Board following an open recruitment procedure (following a skills assessment of the Board).
- d) The Chair of the BPA Athletes Commission, who is appointed to the Board ex officio.
The term of office for all Directors is four years. However, to ensure that the change of personnel on the Board is staggered, an election (for six elected Directors) and an appointment process (the Chair plus four appointed Directors) is held every two years. Four representatives will be elected for the Summer Quad (from end of one Summer Paralympic Games to the next) and two will be elected after the end of the Winter Paralympic Games. Elections take place within nine months of each Summer or Winter Paralympic Games. Elected Directors are elected at an election meeting following nomination from the membership. Similarly, the appointed directors to the Board are recruited through an open process in a three-to-one ratio following the elections in Summer and Winter Games years and a Board skills analysis.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The appointment of the Chair will always take place in the period following a Summer Paralympic Games, through an open recruitment process. Representatives of Voting Members may also be appointed by ordinary resolution to fill a casual vacancy from time to time, to hold office until such time as the person who was replaced was due to retire, in line with Article 23.3.
Nominations of individuals proposed for election as Trustees and Directors must be made in writing to the Company Secretary of the Association not later than one calendar month before the Election Meeting. Retiring Trustees and Directors are eligible for re-election providing that they have not already completed two consecutive terms.
As part of the BPA’s commitment to equality and diversity, nominations for elected and applications for co-opted Trustees and Directors are encouraged from groups that are under-represented on the Board. This is in line with, and intended to support, the objectives set out in the BPA’s Diversity Action Plan.
New trustees are provided with an information pack of policies and procedures and meet with the Chair, Chief Executive, Company Secretary and other key BPA personnel. These meetings cover the decisionmaking process, Trustee legal obligations under charity and company law, the content of the Articles and the business plan. At the first Board meeting, there is an opportunity to meet members of staff and all Trustees are encouraged and supported to attend appropriate external training events where these facilitate the undertaking of their role.
The following persons served as Board members during the reporting Period:
|**Name**|**Role**|**Appointed/Resigned**
**(if applicable)**|**Board**
**Meetings**
**Attended**|
|---|---|---|---|
|Nick Webborn CBE DL|Chair||4 of 4|
|Pippa Britton OBE|Vice Chair||4 of 4|
|Christopher Brown|Senior Independent
Director||4 of 4|
|Kate Adams|||3 of 4|
|Graham Edmunds|||4 of 4|
|Sally Hancock|||4 of 4|
|Fred Hargreaves OBE|||3 of 4|
|Steve Ingham CBE||Appointed 24 May 2023|4 of 4|
|Helene Raynsford|||4 of 4|
|David Ross|||3 of 4|
|Helen Rowbotham|||4 of 4|
|Anne Wafula Strike MBE|||4 of 4|
The Board meets a minimum of four times per year and on an ad hoc basis where required. The table below sets out the meetings held in the Reporting Period and summarises the key decisions taken:
N.B. The Spring 2024 Board meeting, which would normally take place in late March, was held in early April for scheduling reasons. As a result, that meeting technically falls into the next reporting period. For transparency, the details of that meeting are outlined in the table below, and it has been taken into account in the attendance figures in the table above. For completeness, the details of that meeting will also be included in next year’s report.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
|**Board Meeting**|**Date**|**Key Topics and Decisions**|
|---|---|---|
|Board Meeting
(Swansea Mercure
Hotel, and Virtual)|14 July 2023|Social Impact Strategy Review, Finance Update,
Approval of Board Terms of Reference.|
|Board Meeting
(Virtual Only, due to
Train Strikes)|4 October 2023|Best Prepared Team Strategy Review, Approval of
Financial Statements FYE 31 March 2023, Paris Budget
Reforecast, ParalympicsGB House Investment, British
Fencing membership approved, reappointment of David
Ross.
N.B. This meeting was observed by a representative of
Governance Utd Ltd. as part of an externally facilitated
Board effectiveness review.|
|Board Meeting
(BPA London Office
and Virtual)|13 December
2023|Social Impact Strategy Update; Update on collaboration
between BPA and BOA; Annual Risk Management
Review; Staff remuneration, progress and progression;
Approval of Inclusion, Diversity, Equity and Accessibility
Plan; Report on Board Effectiveness Review;
Confirmation of Board Committee Appointment, Approval
of British Biathlon Union Membership Application.|
|Board Meeting
(Dunblane Hydro and
Virtual)|11 April 2024|Best Prepared Team Strategy Update; ParalympicsGB
House Update, Annual 2024/25 Budget Approval; Social
Impact Strategy Approval; Environmental Strategy
update; approval of revised Committee Terms of
Reference,Report on Board SkillsAudit.|
## **OBJECTS, MISSION AND ACTIVITIES**
The British Paralympic Association’s (“BPA”) Strategic Plan, ‘Championing Change’, covers the period 2022 – 2032 (copies available on the BPA’s website). ‘Championing Change’ presents the organisation’s long-term vision, mission, values and priorities for the decade that began with the Beijing 2022 Winter Paralympic Games and includes the Paris 2024, Milan-Cortina 2026, LA 2028, Winter 2030 and Brisbane 2032 Games.
The BPA’s vision is “through sport, inspire a better world for disabled people”.
The vision is driven by the BPA’s belief that, through the power and inspiration of the Paralympic Games, and the world class achievements of Paralympians, real change can be achieved in the perception of society as a whole and the way people individually think, feel and behave towards disabled people.
The British Paralympic Association’s mission through to 2032 is “To enable world-leading performance at the Paralympic Games and to drive positive, sustainable change in UK society”.
Our vision and mission therefore fit within the charitable objects set out in our Articles:
- I. To relieve people with physical, sensory, and learning disabilities by encouraging and facilitating their participation in sporting activities and assisting in the provision of training, facilities, and equipment for this purpose; and
- II. The relief of poverty and the advancement of education and such other purposes for the benefit of the community as shall be exclusively charitable.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **ACHIEVEMENTS AND PERFORMANCE**
Championing Change, our 10-year strategy for 2022-2032, highlights two key and interwoven Strategic Priorities: ensuring the team that goes to every Paralympic Games is Best Prepared; inspiring social change and a more inclusive environment for disabled people. The strategy both reflects on the near-term challenges and pressures and looks further ahead, setting ambitions for a ten-year period.
Thinking beyond the four-year Paralympic cycle allows us to raise our ambitions as a world-leading Paralympic team and as a force for change for disabled people across the UK.
As we pursue our strategic aims, everything we do is underpinned by 3 values:
## **Excellence:**
Everything we do reflects our ambition to be world leading. We care deeply about what we do and bring a flexible, positive and progressive approach to our interactions with others. Like the athletes that we support, we will always challenge ourselves and others to do better.
## **Respect:**
Our relationships with each other, our partners and the wider community are based on respect, trust, and a deep-seated belief in diversity, inclusion and the value of our differences.
## **Integrity:**
We demand the highest standards from ourselves and others, seeking always to do the right thing and to engage with openness and transparency in all that we do.
The summary below outlines our achievements against our strategic objectives and the underpinning aims of the BPA that will help those objectives to be met.
## _**Strategic priority 1: Best Prepared Team.**_
To continue to deliver a ‘best prepared’ approach to Games leadership, preparation and delivery of ParalympicsGB at the Summer and Winter Paralympic Games
## Best Prepared Team Strategy:
Having lost a year’s preparation time due to the delayed Tokyo 2020 Paralympic Games (which took place summer 2021), this financial year was critical for organisation-wide and team-wide preparation and planning for the Paris 2024 Summer Paralympic Games, the Milan Cortina 2026 Winter Paralympic Games and the LA 2028 Summer Paralympic Games.
## Paris 2024
The year to 31st March 2024 took us to within touching distance of the Paris 2024 Summer Paralympic Games (28th August – 9th September 2024). Having identified the structure to deliver our most complex ever Games-time footprint and masterplan in both the UK and France, significant attention was given to developing the structure to deliver and then the recruitment and development of our Games-focussed delivery enlarged team of 170+ roles.
A broad recruitment search commenced in the spring of 2023 growing our team of 50 BPA staff and a host of committed and talented volunteers and secondees to over 100 by the end of the calendar year. A second recruitment phase took place in quarter one of 2024. We are especially grateful to partners across the high-performance sport system for supporting us with secondments of some of their most skilled staff, particularly the UK Sport Institute, Commonwealth Games England and UK Sport.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
Our Team Development Programme was launched through the recruitment phase and continued through 2023-2024. Our first full workshop saw close to 110 colleagues coming together to develop relationships, share intel and build functional area and environment teams. As well as whole-team events, all team members had role-specific preparation and those in more senior roles undertook a programme of leadership development; as well as preparing them for their roles, it also gave us a tier of deputies ready to step up if needed. Our aim was leaders at every level and leadership bridges which would build both organisational capacity and resilience.
A large number of visits to our key venues in France took place over the course of the year. These included: our multi-sport preparation camp in St Germaine-en-Laye, the Athlete Village sites in Paris and Chateauroux and Para triathlon’s preparation base in Libourne. In addition, significant progress was made in identifying the venue and developing plans for our multi-functional ParalympicsGB House where we planned to deliver health and wellbeing support, a home for friends and family, media opportunities, commercial activities and more. We also worked closely with those sports choosing to hold their preparation camps in the UK to ensure those camps felt like an integral part of ParalympicsGB, with a strong emphasis on consistent and striking branding across all our team environments.
The masterplan for the Paris Games is highly complex and the year to March 31st, 2024, saw huge focus on some extremely challenging aspects including security considerations, transport, accommodation, logistics and accreditations. The progress made by the team, working in close contact with sports’ Team Leaders to ensure the athlete perspective was never lost, was exceptional and significant progress was made in our quest to be ‘best prepared’ for the Games.
Further visits took place across the UK and Europe as part of our ‘Team Connect’ strategy designed to develop relationships and ways of working across the twenty sports vying for Paris qualification. These included significant support for the inaugural European Para Championships – the first multi-sport event of its kind to be held in Europe – along with other major events and Paris qualifiers. Members of the Exec and Chef de Mission teams also attended the Paris 2024 Chefs de Mission Seminar in Paris which signified one-year to go to the Games and was a key opportunity to receive information updates from the Organising Committee, see first-hand, the progress in the village and venues as well as connect with global colleagues.
Team experience and the wellbeing of all team members remained central in our planning throughout the year. Nowhere was this more evident than in the excellent relationship developed with Eurostar, whose willingness to provide much-enhanced accessibility on trains as well as during the team departures at London St Pancras was outstanding. The changes made by Eurostar will prove to be an important and impactful legacy for disabled travellers far beyond the Games.
Best Prepared Team: Milan-Cortina (MiCo) 2026
The Milan-Cortina Winter Paralympic Games will take place 5th – 15th March 2026. Ceremonies and competition venues will be split across a disparate masterplan in locations including Milan, Verona, Cortina and Predazzo. The majority of ParalympicsGB’s focus will be in Cortina and Predazzo which will host the snow and ice events where we will have representation.
Visits and regular contact with the MiCo Organising Committee have been extremely helpful in developing our plans for the MiCo Winter Games. Site visits have included to the Alpine World Cup finals and Organising Committee Open Days.
As pre-existing, established competition venues, Cortina and Predazzo promise to be incredibly impressive settings for our athletes across Alpine, Snow Board, Nordic and Wheelchair Curling disciplines. Operational challenges do exist however, in part due to Cortina’s history as a traditional alpine resort – accessible transport and sufficient accessible accommodation have been identified as the key risks to our delivery plan. Although these challenges are significant, we can be pleased with the progress we made during the 2023/2024 year in identifying those challenges, leading discussions with the MiCo Committee and exploring options as part of our best prepared team strategy for the next Winter Games.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
Relationships with our winter sport national governing bodies remain strong and nominations have been received for MiCo team leaders. As part of our wider partner engagement strategy, our first Board meeting of the new financial year will take place in Scotland with a partner dinner and Wheelchair Curling team development activity planned into the trip.
Games-readiness planning for MiCo is in progress and, whilst there will be a brief pause in activity during Paris 2024, a full programme of activity will resume in Autumn 2024
Best Prepared Team: Los Angeles 2028
The LA Paralympic Games will take place 15th – 27th August 2028. Whilst LA will be hosting its third Olympics (1932 & 1984), this is the first time the city will have hosted the Paralympics.
Led by the Director of Sport and Director of Operations, a preparation and Games planning visit took place across California in August 2022. Timing of this visit was critical to get our ‘future Games planning’ back on track ahead of Paris 2024. This deliberately long lead-in is the foundation of our best prepared team strategy from which specific masterplan development and detailed planning evolve.
As a result of this, and several other pre-Games preparation focussed visits, a number of potential preGames preparation camp options were identified, and vital intelligence gathered specifically relating to the challenges of the LA Games. Some of the challenges include cost, including the risks of sterling versus dollar movements, as well as general costs including flights, accommodation and transport. Further challenges include the costs for pre-Games preparation – venue hire and adaptations, long haul travel, acclimatation and travel fatigue.
Our pre-Games preparation venue recces were complemented by a CEO-led key stakeholder visit, in October 2023, which focussed on development of relationships which support best prepared, social impact and our wider business interests. Engagement included: with colleagues from the British Consulate in LA, with a range of LA city departments, with pre-Games preparation stakeholders, with LA disability influencers and activists and with the LA British-American Business Council. The impact of this ‘timeinvestment’ was significant in developing awareness around the LA 2028 Paralympics, ParalympicsGB’s ambition for the Games and for key relationship development.
With a pause on preparation and planning during the Paris 2024 delivery period, activity will resume in Autumn 2024.
## _**Strategic Priority 2. Social Impact**_
## **Creating an athlete community and amplifying their voice to achieve positive social change.**
Work continued to develop an athlete community proposition with research conducted with current and retired Paralympians, along with analysis of other alumni programmes for athletes. Training for athletes on campaigning and advocacy was conducted with the Sheila McKechnie Foundation and an athlete-led steering group was formed to guide the community work.
Digital content, including a podcast, was developed focused on athletes and their voices on issues they want to talk about. This content has helped to generate discussion and input on wider topics including specifically disabled children’s experience of sport and PE in school. The content was more widely engaged with by disabled people and has been developed alongside a fan engagement strategy to widen and deepen engagement with younger audiences and disabled audiences.
Working with a major donor we brought on film production agency Harder Than You Think to work on developing a promotional film focused on the experiences of disabled children in school.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **Accessible programmes to empower more disabled people to become more active through sport.**
The Parasport programme was reviewed and concluded with a full rebrand and relaunch as ‘Every Body Moves’. Steered by a new Lived Experience Advisory Board, insight from disabled-led agencies and BPA members and user insight to improve the experience of the functionality of the website and tools for use as well as establishing a network of activity providers.
In our youth engagement programmes new projects got underway with Path to Paris, a Sport England and Spirit 2012 funded programme, launched with a tiered approach with intensive local community programmes as well as a national campaign. A pilot programme, focused on secondary school aged children, exploring the social model of disability was also run successfully with a substantial amount of insight into future programmes acquired. Youth engagement programmes with corporate partners British Gas and Aldi were also developed.
## **Brand development**
A brand development project was completed to ensure we have a contemporary look & feel, make clear how we are prioritising inclusion and accessibility in all our communications and most notably how we will use ParalympicsGB as our brand name for all external communications to maximise brand recognition and reduce complexity.
## **International Relations**
The IPC announced that the UK (the partnership of BPA, UK Sport & Manchester City Council) is the preferred bidder to host and locate the two International Federations currently governed by the IPC – World Para Athletics and World Para Swimming.
## **Commercial Success**
The past 12 months have largely focused on securing outstanding funding for the Paris 2024 Games across new partner acquisition, partner activations and philanthropic activity. Whilst we have continued a more long-term focus towards LA and beyond, maximising revenue has been key. We built on the successful recruitment of the previous year through the addition of a Commercial Team Assistant who was brought in to support across the team on a fixed term contract.
We had a successful number of new partner signings across the past year that supported both our best prepared and social impact work. We were delighted to start working with British Gas, Tik Tok and Deloitte who both joined as Gold Partners. We were also delighted to add Eurostar and SNO as Partners. We were very pleased that these partners committed to supporting our social impact endeavours with a particular focus from Deloitte on a specific metaverse project and a commitment from Eurostar around accessible travel for the team.
Another key area of focus for the year was centred on ParalympicsGB House and working with the Parisien district of Clichy to support our ambitious plans to run a venue that hosted partners, stakeholders, friends and family as well as providing options for media outlets. We were able to secure a number of partner investors into the project and look forward to running what we hope to be the heart of the team outside of the village environment.
We continued to develop and progress our Beyond the Podium Programme with the focus being the creation and implementation of a reverse mentoring scheme. The scheme, set up initially as a pilot, offered partner CEOs the opportunity to be matched with a Paralympian. We had 7 CEOs sign up to the programme with the aim being for each participant to have between 3-5 mentor sessions by October 2024. Following the conclusion of this initial scheme, feedback will be gathered before considering how this is rolled out more widely as we look ahead to the LA and Brisbane cycles.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
In philanthropy, we extended our network and reached out to many new individuals and organisations in the UK and abroad, including in the US. We shared our plans for Paris 2024 and beyond to LA 2028 and our social impact work including our emerging and groundbreaking inclusive school sport campaign and film project. We are incredibly grateful to our donors and Parallel Club members, who remain hugely supportive of ParalympicsGB. We were delighted to thank many of them in person at a fantastic reception hosted by our Royal Patron, His Royal Highness The Duke of Edinburgh at St James’s Palace, marking 20 years of His Royal Highness’s Royal Patronage, 75 year anniversary of the start of the Stoke Mandeville Games, and one year to go to the Paris 2024 Paralympic Games. We continued our work with the David Ross Education Trust where our athletes worked with a network of schools to provide students with inspiration encouragement and advice on how to pursue their dreams.
Looking ahead to the summer, we are confident of delivering a fantastic Games time experience for partners, stakeholders and donors and using them as a springboard to catalyst conversations around longer term investment for future cycles.
## **A High-Performing organisation.**
The BPA is subject to the UK Sport/Sport England Code for Sports Governance and was initially recognised by UK Sport as being Code compliant in December 2017. The organisation continues to be fully committed to the highest standards of corporate governance, and adherence to the Code specifically, and is actively focused on ensuring best practice within its governance more widely. The organisation took appropriate steps in 2022 and 2023 to maintain compliance with the revised Code requirements, and to implement recommendations made by UK Sport’s routine Finance and Governance Assurance review, noted in last year’s report. Full compliance with the new or amended requirements was confirmed by UK Sport in May 2024.
Between October 2023 and March 2024, the Board undertook an externally facilitated evaluation of Board effectiveness and a Board skills audit. This process was led by Governance Utd, who were appointed following a competitive tender process overseen by the Senior Independent Director, Director of Finance and Corporate Services, and Head of Compliance and Governance. The evaluation report was positive about the performance of, and relationships between, the CEO, Chair, Board and Executive Team. It noted that the organisation has responded well to the adverse impacts of the COVID-19 pandemic, and that the Board has developed an ambitious strategy that is being driven by the Executive Team. The review also highlighted the positive impact of open and frank conversation within the boardroom and identified that the organisation benefits from the expertise of knowledgeable and dedicated directors. Recommendations were made regarding: the need to ensure sufficient expertise around social impact, which is a relatively new area of the ParalympicsGB strategy; the benefits of improving the Board induction process, particularly for Directors without significant experience of the sport sector; and the need to increase the diversity of the Board – something which the organisation has already acknowledged within its Inclusion, Diversity, Equity and Accessibility Plan. Further recommendations related to Board ways of working (continuing to streamline Board papers, balance strategic and operational focus in Board discussions, reviewing the formality of Board procedures, and reviewing the Board’s role in risk management), stakeholder engagement, and reviewing the terms of reference for Board committees. The recommendations from the report have been added to the organisation’s governance action plan and will be implemented through the course of 2024/25.
During the year, the Board reviewed several of the organisation’s policies, in line with the agreed Policy Review Schedule. This included:
- Approval of new Board Terms of Reference,
- Board approval of the organisation’s Inclusion, Diversity, Equity and Accessibility (IDEA) Plan,
- Review and approval of the organisation’s:
- Reserves Policy
- Fraud Policy
- Anti-Corruption and Bribery Policy
- Investigation of Public Interest Disclosure (Whistleblowing) Policy
- Equity, Inclusion, and Diversity Policy
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
o Complaints Policy
- Succession Planning for Board, Executive Team, and Other Business Critical Roles
-
- In April 2024, review and approval of Board committee Terms of Reference.
Our 10-year strategy makes clear that we regard the recruitment, development and motivation of excellent staff as being the essence of a high-performing organisation. Our progress and ambition is set out in our People Plan, Champions of Change, finalised in the summer of 2023. This is further supported by our Inclusion, Diversity, Equity and Accessibility Plan, approved by Board in December 2023. Linked to both of these ambitions, and following significant work by the organisation’s Inclusion, Diversity, Equity and Accessibility (IDEA) group, the British Paralympic Association achieved Disability Confident Employer status in November 2023 and is now working towards Disability Confident Leader status.
We upgraded and relaunched our staff benefits package and despite the financial constraints we work within, were able to implement salary reviews that whilst not being able to match the current rates of price inflation, were competitive compared to increases elsewhere in the sector.
We place strong emphasis on supporting mental health within ParalympicsGB. Recognising how important it has become for our colleagues’ work-life balance and overall wellbeing, we have continued our commitment to flexible working, offer all colleagues access to a comprehensive Employee Assistance Programme, and have been proactive in identifying ways to ensure staff have a comfortable and safe home-working environment.
We have made significant improvements to our recruitment and induction processes for new staff informative, welcoming and inclusive for disabled and neuro-diverse candidates. We are also grateful to Wired Differently for a very informative all-staff session on supporting and working with neuro-diverse colleagues. There has been an increased focus on Learning and Development, including almost half of our staff taking up the offer of online coaching sessions.
Around 20% of our staff have been trained as Mental Health Champions in a sequence of very thorough interactive workshops led by clinical psychologists. Those clinical psychologists and our mental health champions are embedded within our wider Games team, including all of our core staff, thus ensuring all team members have access to mental health support in the demanding preparation phase as well as during the Games.
Our Inclusion, Diversity, Equity and Accessibility (IDEA) group has continued to work hard, finalising the organisation’s Inclusion, Diversity, Equity and Accessibility (IDEA) Plan and moving from a focus on developing the plan into a delivery and oversight role, supported by the Executive Team and Board. The organisation, led by the IDEA Group, has continued to provide relevant and topical training to all staff on inclusion and accessibility issues throughout the year.
Delivery of our IDEA Plan requires that we continue to improve the accessibility and inclusivity of our recruitment, onboarding and development practices. We have made very significant strides in this area and it will continue to be a focus over the coming years, as we work to establish our organisation as an exemplar of good practice, and encourage our members, partners and other stakeholders to follow suit.
## _**Financial**_
The Financial Statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 (FRS 102) and the revised Charity Statement of Recommended Practice, applicable UK Accounting Standards and the Companies Act 2006.
The group consists of the parent undertaking, the British Paralympic Association, and its subsidiary undertakings, British Paralympic Enterprises Limited (BPE), British Paralympic Performance Services Limited (BPPS), and Paralympic World Cup Limited (PWC). BPE, BPPS, and PWC are wholly owned subsidiaries. PWC was dormant in this and the previous year. The BPA is also a shareholder in a joint venture ‘2016 Crest Holding Limited’ with the British Olympic Association, with the liability of each organisation limited to £10.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The company holds the rights to the crest that featured on the Adidas kit for the Rio Paralympic Games (and which has the potential to feature on future kit, depending on creative decisions).
The group’s total income for the year was £8.7 million (2023: £5.3 million), and total expenditure was £7.7 million (2023: £4.1 million). These large increases compared to last year are strongly related to the proximity of the Paris Paralympic Games. The BPA’s financial rhythms are more in tune with the 4-year cycle of the Games than any year-on-year fluctuations and we would always expect to see income and expenditure both increase as we get closer to a Summer Games year.
We also benefitted from two significant income contributions in 2023/24 which increased income by £2 million and expenditure by £1.8 million. A large donation to support the production of a promotional film and a significant Value in Kind partnership with Deloitte are described in the income review section, below.
The BPA is very grateful to UK Sport for the extremely positive way that they support us and continue to engage in a relationship that demonstrates mutual respect and understanding. The financial award made for the Paris and for the Milan Cortina Games is an invaluable part of delivering our best prepared team strategy. Our strategic delivery has also been helped by a number of more targeted additional awards, including funds for a programme to recruit a network of athletes with the potential to reach Paralympic standards in the future.
The BPA values immensely all the support we receive from grant funders, commercial partners, trust and foundations, and individual donors and other individuals; that support ensures we can send best-prepared teams to the Paralympic Games, play a leading role in the international Paralympic movement and be an effective force for good in the lives of disabled people across UK society.
Amongst other grants, we were very happy and grateful to receive grants from these funders during the year:
- Boshier Hinton Foundation;
- David Ross Education Trust;
- Disability Sports Development Trust
We are extremely pleased to have made strong progress on all aspects of our strategy during 2023/2024 whilst maintaining strong financial sustainability and we closed the year in a very healthy financial position with reserves of £7.1 million. That reserves position will reduce as costs increase closer to the 2024 Paralympic Games, but it represents a very good position for this stage of the cycle and puts us on course to exceed our reserves target for the 4-year Paris cycle.
The charity’s expenditure on charitable objectives totalled £5.1 million (2023: £3.1 million), with expenditure on raising funds being £2.5 million (2023: £1.0 million). As explained above, charitable expenditure rises as we approach Paris, but this particular year-on-year increase also reflects the work funded by Deloitte partnership and the expenditure on the film project.
Fundraising activity accounted for 33% (2023: 25%) of our total spend and 29% (2023: 22%) of our income. It should be noted that this percentage moves significantly during a cycle; in particular, our income increases by a large percentage in the year of a Summer Paralympic Games and the fundraising percentage is lower. Across a four-year cycle, our fundraising activities account for approximately 15% of our total income. However, the very generous donation to support production of a promotional documentary film makes the fundraising spend in 2023/24 much higher than in a typical year.
We have kept a very strong emphasis on financial sustainability with our forecasts looking ahead to the 2028 Los Angeles Games and beyond. We increased our post-Paris reserves target to £2.5 million and our current forecasts predict we will exceed that by March 2025, leaving us in a good position for the next 4 – 8 years, which will undoubtedly be more expensive.
Consequently, we are confident of the charity’s financial sustainability and its going concern status for the foreseeable future.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## _**Income Review**_
The majority of the BPA’s income comes from commercial arrangements with its corporate partners. In total, corporate partners supported the BPA through sponsorship and promotional rights arrangements with BPE totalling £3,992K (2023: £2,974K) in cash, and a further £1,313K (2023: £313K) in the form of value in kind i.e. donated goods and services.
The cash component of our commercial income is on track to deliver our best ever 4-year cycle result. Many relationships were renewed after Tokyo for the Paris cycle and we have also secured new partnerships that not only provide income, but also a commitment to work alongside the BPA in our ambition to bring about social change for the benefit of disabled people. Our partners’ workforces and customers include many millions of people. Our Beyond the Podium initiative mobilises the power and the commitment of our partners to diversity and inclusion and builds on the inspiration of ParalympicsGB athletes. It is a long-term programme that will see the BPA and our partners become leading voices in disability inclusion across society and broadens our conversations with current and future partners to beyond the valuable commercial rights associated with the Paralympic Games.
The BPA also recognised £250,000 (2023: £250,000) from Toyota Great Britain to continue to support the Every Body Moves website, engagement with community-level sport opportunities for disabled people and activity to promote the website.
The BPA receives a significant grant from UK Sport which is restricted to fund specific elements of the BPA’s athlete preparation and Games-related activity over the four-year Paralympic Games cycle to Paris 2024. We were also grateful to UK Sport for the opportunity to apply for additional smaller but strategically-targeted awards, such as awards to support a Performance Services Manager in the Paris team and a programme to build a network of athletes with potential for reaching Paralympic standards. UK Sport grants recognised in the year totalled £890K (2023: £710K).
Philanthropy and individual fundraising totalled £1,643K (2023: £546K), with one donor accounting for the majority of that income in 2023 and in 2024. We are extremely grateful for a donation of £1 million to support a project to produce a promotional film that will support future income generation and become an effective awareness-raising tool for the BPA and for our agenda for social change.
The BPA’s relationship with Loughborough University continues to thrive, including a value in kind contract providing the BPA with an office space in a key location for the high-performance sport sector. We also work closely with the University in areas such as recruiting our Games-time team and in developing our environmental planning.
## _British Paralympic Enterprises Limited_
This is a wholly-owned trading subsidiary of BPA whose principal activity is sports administration and trading. During the year, the company generated a profit of £3,811K (2023: £2,950K). The company focused on commercial relationships which generate cash and value in kind income in return for granting commercial rights linked to the ParalympicsGB team.
## _British Paralympic Performance Services Limited_
British Paralympic Performance Services Limited (BPPS), a wholly owned subsidiary, provides performance services to Paralympic athletes and their sports, primarily within the parameters of the activities supported by a grant awarded by UK Sport. During the year the key strategy and focus for BPPS activities was the preparation and delivery strategies for Paris 2024 as well as preparations for MilanCortina Winter Games in 2026.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## _Risk_
The Board continuously reviews business risk in all its operations and has created a number of risk minimisation tools including Risk Registers for the organisation as a whole and specific identified projects (including each Summer and Winter Paralympic Games). An updated risk policy was approved in 2023 under which risks are reviewed monthly by the Executive Team, with the organisation’s Risk Dashboard being reviewed quarterly by the Board. Significant changes in high level risks are also shared with the Board more frequently.
The highest rated risks on the register are:
## (i) Disruption to planning and delivery for Paris 2024
The shortened timeframe for the Paris cycle (a direct consequence of COVID requiring the Tokyo Games to be rescheduled a year late in 2021), has created pressures for us and our team as well as for the Paris Organising Committee. We have had less time than usual to prepare and some aspects of our operational plans regarding transportation, logistics and accommodation will be finalised far closer to the Games than is ideal. This increases the risk of operational disruption and although the work in 2023/2024 has managed a lot of issues very effectively, we are mindful that there remains a risk to our operational delivery around the Games.
We have mitigated the risk by prioritising resources to fund fixed-term roles with a strong focus on accelerated planning and preparation, as well as retaining staff with valuable experience in preparing for previous Paralympic Games. We have built very strong relationships with key local partners and suppliers, and with local officials in Clichy (where our Games time headquarters will be) and St-Germain-en-Laye (where our largest Preparation camp will be) region where our team will be based. We have done all this in consultation with the sports represented at the Games and the relevant Team Leaders, to ensure that all our decisions are athlete-focused and do not disrupt plans made by the sports.
## - - (ii) Income does not meet our long term strategic aims and mid term operational plans
Like any multi-year planning framework, there is bound to be some uncertainty about whether we will secure all the income needed to meet our aspirations. We also recognise that future planning cycles will need to fund higher levels of costs as well as our own increased ambition for social change.
- Some of our projections rely on developing income streams significantly beyond their current levels, such as philanthropy.
- Our costs across the next two Summer Games cycles will be notably higher as they will be hosted in long-haul destinations, Los Angeles and Brisbane
- The global economic outlook is unsettled and there are challenges across the UK economy that affect all sources of funding, including commercial, governmental and philanthropic – securing new support and maintaining existing support will continue to be challenging
Our approach to building a case for support, whether commercial or philanthropic is becoming increasingly sophisticated and has moved far beyond a sole focus on a Paralympic Games. The Games will always be a highly prized asset that will be integral to income generation, but we have cultivated deep relationships with funders that provide all parties with strong benefits throughout the relationship period. We are increasingly engaging supporters with the social impact of the BPA’s strategy, enabling us to engage with new supporters and to strengthen relationships with existing supporters whose corporate and personal values align with our own.
We have recruited staff with an expertise in social impact and have a sharply focused delivery plan with a value proposition that is much simpler to articulate. We are also developing a fan database which will in turn become an asset that has value for commercial partners.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## (iii) Security threats in Paris 2024
The safety and wellbeing of the entire ParalympicsGB team is of paramount importance. For every Paralympic Games, assessing and the level of security risk and preparing appropriately is a high priority task making use of expert input from security specialist advisors and government sources (UK and the host nation).
The risk of a terrorist attack around the 2024 Paris Games is considered to be high. Additionally, Paris carries a risk of street crime and political disturbances. We are managing these risks by engaging highly experienced security advisors with a background that includes previous Olympic and Paralympic Games and by taking their advice very seriously in our planning. We have close operational relationships with the UK government, the British Embassy in Paris and the Games Organising Committee.
## (iv) Cyber Threats
The threat of cyber-attack has to be acknowledged by every organisation. Our cyber defences were strengthened significantly as part of our preparations for the Beijing 2022 Games and have been maintained since then. We have also invested in a Cyber Threat Management Service that includes vulnerability scanning, dark web monitoring, staff education and email phishing tests. As well as these preventative measures, we also have cyber insurance which provides cover for consultancy to recover in the event of an attack.
## _How we pay Staff_
The British Paralympic Association is committed to ensuring that we pay our staff fairly and in a way which ensures we attract and retain the right skills to have the greatest impact on delivery of our strategy.
The Board operates a Remuneration Committee, with the principal responsibilities being as follows:
- upon the recommendation of the Chair of Board, determine and agree the remuneration of the BPA’s Chief Executive Officer;
- determine the policy for, and scope of, pay and pension arrangements for all staff;
- upon the recommendation of the CEO, endorse the remuneration of the BPA’s Executive Team.
## _Fundraising_
The British Paralympic Association has signed up to the Fundraising Regulator and is committed to following the highest fundraising standards.
In the year there have been:
- no failures to comply with the standard (2023: none).
- no complaints received by the charity about activities by the charity or by a person on behalf of the charity for the purpose of fund-raising (2023: none).
The charity sets out to protect vulnerable people and other members of the public from unreasonable behaviour related to its fundraising by complying with the standards set by the Institute of Fundraising, managed by the Fundraising Regulator. The BPA is registered with the Information Commissioner’s Office and strives to be compliant with GDPR and the 2018 Data Protection Act.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## _Reserves_
The cyclical nature of the Charity's activities (where activity and expenditure both build towards a Summer and – to a less degree – Winter Paralympic Games) means that the level of reserves required varies throughout the four-year cycle. The Trustees' primary aim is to build reserves to the highest level that is required at any time in the cycle, which is normally in the year in which the Summer Paralympic Games takes place, whilst also managing the level of funds at a level appropriate to an organisation the size and scale of the BPA.
Total reserves at 31 March 2024 were £7.1 million (2023: £6.1 million). The current level of unrestricted reserves is £6.9 million (2023: £6.1 million), with restricted reserves of £218K (2023: £22K) carried forward to the next year as restricted funds. Restricted reserves represent unused grants with restricted purposes recognised as income but not yet fully expended.
The BPA’s Reserves Policy sets out a minimum level of reserves equal to approximately six months of the charity's running expenses, as well as a target for reserves at the end of each financial year to be within 20% of the level forecast as part of the agreed budget. This additional target has been included in the Policy in recognition that there are large fluctuations in the level of reserves across the four-year cycle, when historically funds have been accumulated in the early years of the cycle, followed by significant expenditure in year four – the year of the Summer Paralympic Games. .
At the year-end, the minimum and target reserves requirements were both exceeded comfortably. Our year-end reserves position gives the BPA a good platform as we look ahead to the Paris Games in 2024 and to investing more in developing our key strategic priority of bringing about social change for disabled people.
Looking further ahead, we are very aware that the 2028 Paralympic Games in Los Angeles are likely to be more expensive than Paris 2024 and with that in mind, Trustees have increased the minimum reserves level in the reserves policy to be achieved by March 2024 to £2.5 million, so that we start that cycle in a strong position. This is a one-off change to the reserves policy, not a permanent change.
The guiding principles of remaining cash positive at all times and to comply with the reserve policy’s minimum requirements were adhered to even during the challenges of COVID-19 and the postponement of the Tokyo Paralympic Games and have remained non-negotiable commitments throughout the year to 31 March 2024. Our forecasts predict that they will continue to be met for the foreseeable future and we are confident of starting the next 4-year planning cycle with reserves exceeding the policy’s £2.5 million requirement.
## **PLANS FOR FUTURE PERIODS**
Championing Change, the BPA’s 10-year strategy for 2022 – 2032 shapes our plans to give us the best possible chance of achieving the strategy’s ambitious outcomes, namely:
- Ensuring we are able to send a best-prepared team to all Summer and Winter Paralympic Games in that 10-year period with athlete welfare being a top priority
- Ensuring the BPA creates a strong impact on the lives of disabled people in the UK by a combination of partner activities, our ability to inspire by telling Paralympians’ stories and by developing the BPA’s social impact work
- Developing the BPA further as a high-performing and inclusive organisation in all aspects of operation
- Ensuring the BPA’s financial health and sustainability
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
More specifically in 2024 - 2025, this means:
- Ensuring the ParalympicsGB team at the Paris Games truly is Best Prepared, with a strong focus on athlete welfare, team security and all aspects of operational planning to ensure the best possible Games experience for all in the team.
- Linked to this will be regular open dialogue with the Paralympic sports’ governing bodies (all of whom are members of the BPA), to ensure that our planning is consistent with that of the sports and with the well-being of all athletes.
- Great emphasis will be placed on engaging the public with the athletes and the Games on social and mainstream media so that we can celebrate the athletes, engage current and new fans and build support for our social change ambitions. A key part of this will be our relationship Channel 4, whose commitment to ParalympicsGB and the wider disability agenda remains crucial to us.
- Ensuring the planning and preparatory visits and research are on track for Milan-Cortina 2026 and Los Angeles 2028.
- Continuing to develop relationships with current and potential supporters, demonstrating the strong social and commercial impact of supporting the BPA. We will work closely with our commercial partners to ensure we are delivering great value for money within these partnerships and demonstrating strong benefits from their support of the BPA.
- Complete the business planning and budgeting for the next 4 year Games cycle, incorporating learnings and feedback from all involved with the Paris Games.
- We will increase our impact on the lives of disabled people within the parameters of our Social Impact strategy, In particular, we will have a strong emphasis on access to physical activity in primary schools through the Super Movers initiative with the BBC and the Premier League, as well as the Path to Paris programme that encourages the least active children to form teams and track their activity on the Path to Paris website, unlocking prizes as they do so.
- Our Equal Play campaign will campaign for government action and resourcing for inclusive PE in schools, with time and resources in schools being supported by much more teacher training on delivering inclusive PE. Our award-nominated documentary “Equal Play” will be a cornerstone of this campaign.
- Beyond schools, we will significantly increase the number of accessible opportunities for physical activity on the Every Body Moves platform and, helped by Channel 4’s promotion of the platform during the Games, increase the number of visitors looking for locally accessible sport.
- We will launch the newly-developed Athlete Community database to recognise Paralympians past and present, with a view to giving them the chance to engage in social impact campaigns and the potential to link up with others with similar interests in the social change arena.
- In conjunction with the National Lottery, Team GB and UK Sport, the Change Makers initiative will give Paralympians the chance to be matched with a community project close to their heart and be supported in engaging with those projects.
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
- Inclusion, Diversity, Equity and Accessibility (IDEA) will continue to be a strong focus for us this year; having finalised our Action Plan, we have a timetabled sequence of actions that we will follow up and monitor. A high priority this year will be to achieve the highest level, Leadership, in the Disability Confident scheme.
- Our Board Nominations Committee will lead the exceptionally challenging aim of identifying a worthy successor to our Chair, Nick Webborn CBE DL who completes his term of office after the Paris Games.
- All of this will need to be delivered within budgets that ensure we meet our reserves targets and look ahead to ensure financial sustainability over the life of the strategy.
## **EQUITY, INCLUSION, AND DIVERSITY**
The British Paralympic Association is fully committed to equality of opportunity and is responsible for ensuring that no employees, Board members, volunteers, supporters, participants, job applicants or members are unlawfully discriminated against because of grounds of age, gender reassignment, religion or belief, sex, sexual orientation, race, marriage and civil partnership, pregnancy and maternity, or disability. This is reflected in the BPA’s Equity, Inclusion and Diversity Policy (available on our website).
The Charity achieved Disability Confident Employer status in November 2023 and is committed to achieving Disability Confident Leader status by 2024. This status reflects the efforts made by the organisation over recent years to improve the accessibility and inclusivity of our recruitment practices and provide appropriate development opportunities, training and support to all staff. We will continue to prioritise the development and wellbeing of our staff, seeking to ensure that the BPA is an inclusive and welcoming employer for disabled people and other underrepresented groups.
In support of that goal, the Organisation’s Inclusion, Diversity, Equity and Accessibility (IDEA) plan was approved by Board in December 2023. The plan is a requirement of the Code for Sports Governance, although our commitment to the principles goes beyond compliance with the Code. The Plan’s Ambition Statement sets out what we want to achieve and why:
_Inclusion, Diversity, Equity, & Accessibility are central to ParalympicsGB’s vision and mission and support our intention to be a high-performing organisation._
## _1. Inclusive, Welcoming Environment_
_We aspire to create a truly inclusive, welcoming environment where every member of our team and every stakeholder can thrive and where every individual feels that their contribution matters, regardless of their identity or background._
## _2. Diverse Composition_
_We champion diversity in all its forms, and it is our ambition for the composition of our organisation to reflect the diversity of British society and the community we represent._
## _3. Disability Confident_
_We are Disability Confident Committed, reflecting our particular passion for disability inclusion, and we aim to become a Disability Confident Leader in advance of the Paris 2024 Summer Paralympic Games._
## _4. Confidence & Understanding_
- _We want everyone within our organisation to feel confident in their understanding of diversity and inclusion issues and their ability to apply inclusive practices in their everyday work. ParalympicsGB is committed to providing the learning and development opportunities necessary to support this._
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## **THE BRITISH PARALYMPIC ASSOCIATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
_5. Leading by Example_
_Our Board and Senior Leadership team are committed to leading by example, championing an inclusive approach to all areas of ParalympicsGB’s operations._
_We aim to achieve and maintain these goals as soon as possible and to be able to demonstrate a track record of success in this area by the end of the LA 2028 Summer Paralympic Games cycle._
We continue to be very excited about our Beyond the Podium Diversity and Inclusion programme for our commercial partners. Our partners’ workforces and customers include many millions of people. Beyond the Podium mobilises the power and the commitment of our partners to diversity and inclusion, with a particular focus on disabled people, and builds on the inspiration of ParalympicsGB athletes. It is a long-term programme that will see the BPA and our partners become leading voices in disability inclusion across society.
Monitoring data outlining diversity of both employees and Board members during the reporting year is set out below (data captured in August 2023):
|Ethnicity - Staff &
Board|White British 89.8%; White Other 3.4%; Black/Black British African 3.4%; Other
backgrounds 3.4%|
|---|---|
|||
|Gender – Staff &
Board|Female 61%; Male 39%; Other gender self-identification 0%|
|||
|Disability – Staff &
Board|Yes 20%; No 77%; Prefer not to say 3%|
|||
|Sexual orientation
–Staff and Board|Bisexual 5.1%; Homosexual 3.4%: Heterosexual 89.8%: Prefer not to answer 1.7%|
## **CHARITABLE PURPOSE**
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charitable purposes and Public Benefit”.
The public benefit of the British Paralympic Association is the promotion and engagement of the community in Paralympic Sport. This is reflected in the key objectives of the charity.
## **COMPLAINTS AND WHISTLEBLOWING**
The Association has an established Complaints procedure and Investigation of Public Interest Disclosure (Whistleblowing) Policy. In the Reporting Period there were no complaints to the Association and there were no instances of public interest disclosure (whistleblowing).
## **GOING CONCERN**
At the time of approving the financial statements, the Trustees and Directors have a strong expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The strength of our relationships with our funders and commercial partners, together with a commitment to cost management and frequent medium-term reforecasting has resulted in the organisation being in a healthy financial position.
After giving due consideration and making enquiries, the Trustees and Directors have a strong expectation that the group has adequate resources, reserves and cash available to cover the requirements for working capital and capital expenditure for the foreseeable future.
19
THE BRITISH PARALYMPIC ASSOCIATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES, STATEMENT OF RESPONSIBILITIES
The trustees (who are also directors of The Britlsh Paralympic Assoclatlon for tho purposes of comp8ny
law) are responslble for preparing the Trustees, Annual Report and the flnanclal statements in accordance
with applicable law and UnSted Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Pracllc6).
Company law requires the trustees to prepare financial statements for each financial year which give a
true and fair vlew of the state of affairs of the charitable company and of the group and of the incoming
resources and application of resources, including the Income and expenditure, of the group for that period.
In preparlng these financial statements, the trustees are required lo..
select suitable accountlng pollcles and Ihen apply them conslstently.,
observe the methods and principles in the Charitie8 SORP.
make judgments and a¢counllng estlmates that are reasonable and prudent-
state whether applicable UK AccountSng Standards have been followed, subject to any material
departures disclosed and explained in the financl81 statements. and
prepare the financlal slalements on the going concern basls unless It 18 inapproprlate to presurne
that the group will continue In buslness,
The Trustees are responsible for keeping adequate accountlng records whlch dlsclose wlth reasonable
accuracy at any time the financial position of ihe Charlty and the Group and lo enable them lo ensure that
the FlnanGial Statements comply with the Companles Act 2006. They are also responsible for
safeguarding the assets of the group and for taking reasonable steps for the prevention and detection of
fraud and other Irregularitles.
The trustees conflrm that so far as they are aware, there Ss no relevant audit information of which the
charity's audltors are unaware. They have taken all the steps that Ihey ought to have taken as trustees in
order to make themselves aware of any r8levant audlt information and to establish that the charity's
audltors are aware of that information,
The trustees are r8sponsible for the maintenance and integrity of Ihe corporate and financlal information
included on the Gharltable company's website. Legislalion in the United Klngdom governing the
preparalion and dSssemlnation of financlal statements may differ from leglslatlon In other jurisdictions.
In preparlng thls report the directors have taken advantage of the exempllons avallable to small
companies.
By O der of the Board
Nick Webborn CBE DL
Trusteo
24 October 2024
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## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BRITISH PARALYMPIC ASSOCIATION**
## **Opinion**
We have audited the financial statements of The British Paralympic Association (‘the Group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Statement of Cash Flows and the 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 and the charitable company’s affairs as at 31 March 2024 and of its 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.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's 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 UK, including the Financial Reporting Council’s (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 statement 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 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 trustees annual report, 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.
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## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BRITISH PARALYMPIC ASSOCIATION**
## **Opinions 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 trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ 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 prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption from the requirement to prepare a strategic report.
## **Responsibilities of Trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the 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 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 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**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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 gained an understanding of the legal and regulatory framework applicable to the Group and the sector in which it operates and considered the risk of the Group not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting and tax legislation. In relation to the operations of the Group and parent this included compliance with the Companies Act 2006, Charities Act 2011, Charities Commission and SORP 2019.
22
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BRITISH PARALYMPIC ASSOCIATION**
The risks were discussed with the audit team and we remained alert to any indications of noncompliance through the audit. We carried out specific procedures to address the risks identified. These included the following:
Reviewing minutes of Board meetings, reviewing any correspondence with the Charity Commission, agreeing the financial statement disclosures to underlying supporting documentation, and enquiries of management and officers of the Charitable Group. We have also reviewed the procedures in place for the reporting of any incidents to the Trustee Board including serious incident reporting of these matters as necessary with the Charity Commission.
Management override: To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk.
We also assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates, including treatment of grant income.
Because of 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 FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. 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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Michael Cooper-Davis ACA FCCA (Senior Statutory Auditor) for and on behalf of Price Bailey LLP, Statutory Auditor**
3rd Floor 24 Old Bond St London W1S 4AP
6 November 2024
23
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**INCOPORATING INCOME AND EXPENDITURE ACCOUNT**
**Note**
**Unrestricted**
**Funds**
**£**
**Incoming Resources**
**Income:**
Donations and legacies
Charitable activities
2
1,147,989
79,237
Other trading activities
5,305,769
Investment income
3
267,142
________
**Total income**
6,800,137
________
**Expenditure:**
Raising funds
4
(2,133,237)
Charitable activities
5
(3,819,893)
________
**Total expenditure**
(5,953,130)
________
**Net income**
847,007
**Transfers between funds**
-
________
**Net movement in funds**
9
847,007
_______
**Reconciliation of funds**
Fund Balances Brought Forward at
1 April 2023
6,073,822
________
**Funds Balances Carried Forward at**
**31 March 2024**
6,920,829
|**Restricted**
**Funds**
**£**
1,920,325
-
-
-
________
1,920,325
________
(412,285)
(1,312,291)
________
(1,724,576)
________
195,749
-
________
195,749
________
22,258
_______
218,007
|**Total**
**2024**
**£**
3,068,314
79,237
5,305,769
267,142
________
8,720,462
________
(2,545,522)
(5,132,184)
________
(7,677,706)
________
1,042,756
-
________
1,042,756
________
6,096,080
________
7,138,836
|**Total**
**2023**
**£**
1,746,275
2,452
3,537,948
31,086
________
5,317,761
________
(1,040,634)
(3,087,130)
________
(4,127,764)
________
1,189,997
-
________
1,189,997
________
4,906,083
________
6,096,080
|
|---|---|---|---|
||_|||
The Statement of Financial Activities includes all gains and losses in the year. All of the above amounts relate to continuing activities
24
BALANCE SHEETS AT 31 MARCH 2024
Group
Company
Nota
2024
2023
As restated
2024
2023
As restated
FIXED ASSETS
Tangible Fixed Assets
11
32,160
33,210
32,160
33,210
Intangible Fixed Assets
12
23,386
56,096
3,316
5,027
Investment In Subsldiarles
13
55,546
89,306
35,482
38,243
CURRENT ASSETS
Debtors
14
2,775,130
1,531,981
969,236
1,012,583
Cash at Bank and In Hand
8,347,476
8,001,923
6,022,264
4,350.510
11,122.606
9,533,904
6,991,500
5,363,093
CREDITORS- Amount8
Falllng Du8 Within One Year
15 (4,039,316) (3,527,130) (3,699,422> (2,255,627)
NET CURRENT ASSETS
7,083,290
6,006,774
3,292,078
3,107,466
NET ASSETS
7,138,836
6,096,080
3,327,560
3,145,709
FUNDS
Restricted Income Funds
Unrestricted Funds
18
218,007
6,920,829
22,258
6,073,822
218,007
3,109,553
22,258
3,123,451
Total Charlty Funds
19
7,138,836
6,096,080
3,327,560
3,145.709
These financial slatements have been prepared in accordance with Ihe provlslons applicable lo
companies subject to the small companies, regime.
These Financial Statements were approved and authorised for issue by the Board of Trustees on
24 October 2024 and signed on its behalf by"
NiGk Webborn CBE DL
Trustee
Company Reglstratlon: 02370578
Charlty registration number.. 802385
25
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024**
|**2024**
**£**
**Cash flows from operating activities**
_Net cash generated from operating activities_
(90,868)
**Cash flows from investing activities**
Interest Received
267,142
Purchase of fixtures, fittings and equipment
Profit/ (Loss) on disposal of assets
(13,330)
873
_Net cash used in investing activities_
254,685
_Change in cash and cash equivalents in the reporting period_
345,553
**Cash and cash equivalents at 1 April**
**8,001,923**
**_Cash and cash equivalents at 31 March_**
**8,347,476**
**Reconciliation of net income to net cash flow from operating activities**
**2024**
**£**
Net income for the reporting period
1,042,756
Depreciation charges
46,217
Interest received
(267,142)
Increase/ (decrease) in debtors
(1,243,149)
(Increase) / decrease in creditors
330,450
**Net cash provided by (used in) operating activities**
**(90,868)**
**Analysis of cash and cash equivalents**
**2024**
**£**
Cash in hand
8,347,476
**Total cash and cash equivalents**
**8,347,476**
**Analysis of changes in net debt**
**2024**
**£**
Cash and cash equivalents brought forward
8,001,923
Cash flows
345,553
**Total cash and cash equivalents**
**8,347,476**|**2023**
**£**
992,929
31,087
(63,458)
(774)|
|---|---|
||(33,145)|
||959,784
**7,042,139**|
||**8,001,923**|
||**2023**
**£**
1,189,997
42,392
(31,087)
324,854
(533,227)
**992,929**
**2023**
**£**
8,001,923
**8,001,923**
**2023**
**£**
7,042,139
959,784
**8,001,923**|
26
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting Policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and are reported in £ sterling.
The British Paralympic Association 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.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
## **1.2 Income**
All incoming resources are accounted for when the Association has entitlement, there is certainty of receipt and the amount is measurable. Income is deferred in respect of UK Lottery funding where the funding is over the 4 year cycle for the Games in order to match it to the expenditure profile. The specific bases used are as follows:
## _Donations and legacies_
Comprises all incoming resources from grants, donations (both monetary and Value in Kind), legacies and membership subscriptions.
- Grants are recognised in the Statement of Financial Activities when received or when the conditions for receipt have been complied with.
- Donations and members’ annual subscriptions are recognised when receivable.
- Donated facilities is included at the value to the Association where this can be quantified.
## _Charitable activities_
Comprises income receivable from charitable trading.
## _Other trading_
Comprises trading income from non-charitable trading, including sponsorship income from the BPA’s commercial partners.
## _Investment income_
Bank interest is accounted for on a receivable basis.
27
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1.3 Expenditure**
Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as services are supplied.
_Costs of generating funds_ are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
_Charitable activities_ comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
_Governance costs_ include those associated with meeting the constitutional and statutory requirements of the Association and include the audit fees and costs linked to the strategic management of the charity .
_Support costs_ include central functions and have been allocated to activity cost categories on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly and others are apportioned on an appropriate basis – estimated usage.
## **1.4 Intangible assets and amortisation**
Expenditure of a capital nature over £700 per item is capitalised at cost. Amortisation is provided on all intangible assets in order to write off their cost over their expected useful lives.
Amortisation is provided on the following basis:
Software - 33% straight line
## **1.5 Tangible assets and depreciation**
Expenditure of a capital nature over £700 per item is capitalised at cost. Depreciation is provided on all tangible assets in order to write off their cost over their expected useful lives.
Amortisation is provided on the following basis:
Office Equipment - 25% straight line Lease Improvements - 25% straight line
## **1.6 Investments in Subsidiaries (the charity)**
Investments in subsidiaries are recognised in the charity’s balance sheet at original cost less any provision necessary for impairment to that cost.
## **1.7 Debtors**
Trade and other debtors are measured at transaction price, less any impairment losses.
## **1.8 Cash at bank and in hand**
Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.
28
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Short term creditors are measured at the transaction price.
## **1.10 Financial Instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.11 Pensions**
Pension costs represent payments to individual personal pension schemes of employees. Pension costs are charged to the Statement of Financial Activities in the period in which they are paid
## **1.12 Fund Accounting**
The group’s accounts are a consolidation of funds which are defined as follows:-
_Unrestricted funds_ comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.
_Restricted funds_ are funds subject to specific restricted conditions imposed by the donors.
## **1.13 Basis of Consolidation**
These financial statements consolidate the financial statements of the charitable company and its subsidiary undertakings, British Paralympic Enterprises Limited and British Paralympic Performance Services Limited on a line by line basis. A separate Statement of Financial Activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions offered by Section 408 of the Companies Act 2006.
## **1.14 Going Concern**
The financial statements of the charitable company and subsidiary companies have been prepared on the going concern basis and adequate cash resources will be available to cover the requirements for working capital and capital expenditure for at least the next twelve months. The Trustees are not aware of any other factors which could put into jeopardy the charitable company’s or subsidiaries going concern status during or beyond this period.
## **1.15 Gift aid payments**
Gift Aid payments are recognised when the charity’s right to receive such payments from its trading subsidiaries is established by a cash distribution from distributable reserves.
29
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1.16 Holiday Pay Accrual**
A liability is recognised to the extent of any unused pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement accrued at the Balance Sheet date.
## **1.17 Foreign Currencies**
The transactions of the charity denominated in foreign currencies are translated into sterling at the date of the transaction. Amounts receivable and payable in foreign currencies at the balance sheet date are translated at rates ruling at that date. The translation differences are included in the Statement of Financial Activities.
## **1.18 VAT**
Income and expenditure is stated net of VAT to the extent that it is recoverable
## 2 **Value in Kind Facilities and Services**
Value in Kind facilities and services is included within incoming resources. Equivalent amounts within resources expended are accounted for in communications costs, legal costs, and planning, preparation and performance at Paralympic Games costs.
The total value of these goods and services is assessed at £1,355,924 (2023: £312,515).
## 3 **Investment Income**
All of the group’s investment income arises from interest bearing deposit accounts, and short term deposits placed with HSBC.
30
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 4 **Costs of Generating Funds**
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
Fundraising costs
45,805
412,285
Communications costs
946,050
-
Salaries and National Insurance
513,477
-
Commercial support and activation
304,287
-
________
________
1,809,619
412,285
Support costs
7
323,618
-
________
________
2,133,237
412,285
________
________|**Total**
**2024**
**£**
458,090
946,050
513,477
304,287
________
2,221,904
323,618
________
2,545,522
________|**Total**
**2023**
**£**
59,585
21,422
433,036
202,892
________
716,935
323,699
________
1,040,634
________|
|---|---|---|
In 2023, £20,000 of the costs of generating funds were restricted.
## 5 **Direct Charitable Expenditure**
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
Planning, preparation and performance
at Paralympic Games
1,968,948
857,364
Activities to promote social change
regarding disability
990,991
452,285
International representation
19,289
2,642
________
________
2,979,228
1,312,291
Support costs
840,665
-
________
________
3,819,893
1,312,291
|**Total**
**2024**
**£**
2,826,312
1,443,276
21,931
________
4,291,519
840,665
________
5,132,184
|**Total**
**2023**
**£**
1,470,020
772,816
8,785
________
2,251,621
835,509
________
3,087,130
|
|---|---|---|
In 2023, £743,132 of the Direct Charitable Activities were restricted.
31
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 6 **Allocation of Support Costs**
The Association’s support costs are allocated on a basis consistent with the use of resources unless directly attributable to a particular activity as follows:
|**Games**
**Expenditure**
Percentage splits relate to BPA’s (the
company) costs
**60%**
**£**
Insurance
29,704
Office Accommodation
128,359
Storage
14,438
Salaries and National Insurance
163,184
Finance
10,696
Administration
7,329
Governance costs
11,931
Travel and subsistence
14,087
IT Support and Internet Services
44,526
Audit Fees
14,823
Legal and Professional
116,112
Depreciation
9,140
HR/ Recruitment Expenditure
44,069
Other Expenditure
-
________
608,398
|**Direct Charitable Expenditure**
**Social**
**Impact**
**Restricted**
**Total**
**Cost of**
**Generating**
**Funds**
**Total**
**2024**
**20%**
**20%**
**£**
**£**
**£**
**£**
**£**
9,856
-
39,560
9,891
49,451
42,593
-
170,952
42,742
213,694
4,791
-
19,229
4,807
24,036
54,149
-
217,333
54,338
271,671
3,549
-
14,245
3,561
17,806
2,432
-
9,761
2,440
12,201
3,959
-
15,890
3,973
19,863
4,675
-
18,762
4,691
23,453
14,774
-
59,300
14,826
74,126
4,919
-
19,742
4,936
24,678
68,916
-
185,028
159,694
344,722
3,033
-
12,173
3,045
15,218
14,623
-
58,692
14,674
73,366
-
-
-
-
-
________
________
________
________
________
232,269
--
840,667
323,618
1,164,285
|**Total**
**2023**
**£**
46,257
295,458
18,965
253,961
30,336
10,215
7,009
10,828
52,353
34,225
278,099
17,784
104,474
(756)
________
1,159,208
|
|---|---|---|
29
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 7 **Results From Trading Activities of Subsidiaries**
The group consists of the parent undertaking, the British Paralympic Association, and its subsidiary undertakings, British Paralympic Enterprises Limited (BPE), British Paralympic Performance Services Limited (BPPS), and Paralympic World Cup Limited (PWC). BPE, BPPS, and PWC are wholly owned subsidiaries. PWC was dormant in this and the previous year.
Both British Paralympic Enterprises Limited and British Paralympic Performance Services Limited Gift Aid their taxable profits to the British Paralympic Association. All activities have been consolidated on a line by line basis.
## **British Paralympic Enterprises Limited**
The Company’s principal activity is sports administration and trading; a summary of the results of this subsidiary is shown below:
|**2024**
**£**
Turnover
5,347,469
Direct Cost and Administrative Expenses
(1,272,787)
________
Operating Profit
4,074,682
Interest Receivable
74,975
________
Profit on Ordinary Activities after Taxation
3,811,273
________
The aggregate of the assets, liabilities and funds was:
**2024**
**£**
Assets
6,963,040
Liabilities
(3,151,765)
________
3,811,275
________
Funds:
Share Capital
2
Profit and Loss Account
3,811,273
________
3,811,275
|**2023**
**£**
3,536,448
(594,300)
________
2,942,148
8,223
________
2,950,371
________
**2023**
**£**
5,852,093
(2,901,720)
________
2,950,373
________
2
2,950,371
________
2,950,373
|
|---|---|
30
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 7 **Results From Trading Activities of Subsidiaries** (Continued)
## **British Paralympic Performance Services Limited**
The Company’s principal activity is to provide performance services to Paralympic athletes and their sports and/or disability organisations.
A summary of the results of this subsidiary is shown below:
|Income
Expenditure
Gross Profit
Administrative Expenses
Operating Result
Interest Receivable
Taxation on Surplus on Ordinary Activities
Profit on Ordinary Activities after Taxation
The aggregate of the assets, liabilities and funds was:-
Assets
Liabilities
Funds:
Share Capital
Profit and Loss Account|**2024**
**£**
855,364
(855,364)
________
-
(3,387)
________
(3,387)
3,387
-
________
-
________
**2024**
**£**
182,965
(182,965)
________
2
________
2
-
________
2
________|**2023**
**£**
485,243
(485,242)
________
1
(3,400)
________
(3,399)
3,399
-
________
-
________
**2023**
**£**
682,487
(682,485)
________
2
________
2
-
________
2
________|
|---|---|---|
31
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 8 **Staff Costs, Directors’ Remuneration and Trustees Reimbursed Expenses**
None of the Trustees/directors received any emoluments in respect of their services to the Charity, (2023: £Nil). Eight (2023: Six) Trustees/directors were reimbursed travel and subsistence expenses incurred in attending meetings and representing the Company, which in aggregate amounted to £4,843 (2023: £4,083).
|Gross Salaries
Employers’ National Insurance
Pension - Defined Contribution|**2024**
**£**
2,447,987
250,633
140,373
________
2,838,993
________|**2023**
**£**
1,952,369
113,240
244,100
________
2,309,709
________|
|---|---|---|
The number of employees who earned £60,000 per annum or more (including taxable benefits but excluding employer pension contributions) during the year was as follows:
|£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000
£120,001 - £130,000
£140,001 - £150,000|**2024**
5
2
2
2
1
0
1
_______
13
________|**2023**
5
1
2
1
0
1
0
________
10
________|
|---|---|---|
The key management personnel comprise six executive team members and the total remuneration, benefits and defined benefit pension contributions paid in the year was £619,606 (2023: £526,602).
The average number of employees during the year analysed by function was:
|Charitable Activities
Cost of Generating Funds|**2024**
**No.**
39
10
________
49
________|**2023**
**No.**
35
9
________
44
________|
|---|---|---|
32
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 9 **NET MOVEMENT IN FUNDS**
|Net movement in funds is arrived at after charging:
Depreciation of tangible fixed assets
Foreign exchange loss
Auditors’ remuneration|**2024**
**£**
46,217
29,838
24,677
|**2023**
**£**
42,392
20,943
34,225
|
|---|---|---|
The consolidated Statement of Financial Activities is for the Group as a whole. The figures below are the equivalent figures for the Charity only, excluding other Group companies:
- a. Charity only incoming resources for the year ended 31 March 2024 were £2,439,266 (2023: £1,284,449) excluding donations from subsidiaries.
- b. Charity only net decrease in funds for the year was £181,851 (2023: £1,901,667).
## 10 **TAXATION**
No corporation tax is payable as the Association is a registered charity. A corporation tax liability of £Nil is included in the subsidiary accounts (2023: £ Nil).
## 11 **TANGIBLE FIXED ASSETS**
|**Cost**
At 1 April 2023 (restated)
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023 (restated)
Charge for the Year
Eliminated on disposal
At 31 March 2024
**Net Book Value**
At 31 March 2024
At 31 March 2023 (restated)|**Fixtures, Fittings and**
**Equipment**
**Group**
**Company**
**£**
**£**
118,491
118,491
13,330
13,330
(1,905)
(1,905)
________
________
129,917
129,917
________
________
85,282
85,282
13,507
(1,032)
13,507
(1,032)
________
________
97,757
97,757
________
________
32,160
32,160
________
________
33,210
33,210
________
________|
|---|---|
All fixed assets of the company are used for charitable purposes.
33
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 12 **INTANGIBLE FIXED ASSETS**
|**Cost**
At 1 April 2023 (restated)
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023 (restated)
Charge for the Year
Eliminated on disposal
At 31 March 2024
**Net Book Value**
At 31 March 2024
At 31 March 2023 (restated)|**Group**
**Company**
**£**
**£**
404,777
182,580
-
-
-
-
________
________
404,777
182,580
________
________
348,680
177,554
32,711
-
1,710
-
________
________
381,391
179,264
________
________
23,386
3,316
________
________
56,096
5,027
|
|---|---|
All fixed assets of the company are used for charitable purposes.
|**Company**
**2024**
**£**
British Paralympic Enterprises Limited
2
British Paralympic Performance Services Limited
Paralympic World Cup
2
2
________
6
________|**Company**
**2023**
**£**
2
2
2
________
6
________|
|---|---|
The Association has three wholly owned subsidiaries, British Paralympic Enterprises Limited – company number 3008516, British Paralympic Performance Services Limited – company number 4577740, and Paralympic World Cup – company number 5362068. All companies were incorporated in Great Britain.
34
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 14 **DEBTORS**
|Amounts Due from Group Companies
Prepayments and Accrued Income
Sundry Debtors
Trade Debtors
**REDITORS**
**Amounts Falling Due Within One Year**
Amounts due to group companies
Accruals and deferred income
Trade creditors
Other taxes and social security costs
**Movement on Deferred Grant Income**
At 1 April
Released to SOFA in the year
Deferred in the current period|**Group**
**2024**
**2023**
**£**
**£**
-
-
2,280,664
1,523,367
3,357
491,109
500
8,114
________
________
2,775,130
1,531,981
________
________
**Group**
**2024**
**2023**
**£**
**£**
-
-
3,496,920
3,214,423
437,533
115,913
104,863
196,794
________
________
4,039,316
3,527,130
________
________
121,835
100,759
(121,835)
(100,759)
75,479
121,835
________
________
75,479
121,835
|**Company**
**2024**
**2023**
**£**
**£**
81,291
556,848
663,485
447,121
3,355
221,105
500
8,114
________
________
969,236
1,012,583
________
________
**Company**
**2024**
**2023**
**£**
**£**
2,888,545
1,755,852
298,077
234,848
407,937
115,913
104,863
149,014
________
________
3,699,422
2,255,627
________
________
-
-
-
-
-
-
________
________
-
-
|
|---|---|---|
## 15 **CREDITORS**
35
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 16 **FINANCIAL INSTRUMENTS**
|Financial assets that are debt instruments at amortised
cost
Debtors
- Group balances
-
Sundry debtors
-
Trade debtors
Cash at bank and in hand
Financial liabilities measured at amortised cost
Creditors
- Group balances
-
Other creditors|**Group**
**Company**
**2024**
**£**
**2023**
**£**
**2024**
**£**
**2023**
**£**
-
-
81,291
556,848
3,357
491,109
500
8,114
3,356
221,105
500
8,114
8,347,476
8,001,923
6,022,264
4,350,510|
|---|---|
||8,841,942
8,010,537
6,328,016
4,915,972|
||-
-
2,888,545
1,755,852
542,396
312,707
512,800
264,927|
||542,396
312,707
3,401,345
2,020,779|
## 17 **DISCLOSURE OF COMMITMENTS**
## _Lease Payments_
At the 31 March 2024 the amount of lease payments committed with respect to the rental of office space was £1,163,437 (2023: £1,694,265).
|Amounts due:
not later than one year
later than one year and not later than five years
later than five years|**Group**
**Company**
**2024**
**£**
**2023**
**£**
**2024**
**£**
**2023**
**£**
257,997
245,546
257,997
245,546
905,441
-
982,182
184,159
905,441
-
982,182
184,159|
|---|---|
||1,163,438
1,411,887
1,163,438
1,411,887|
Lease payments recognised as expenses total £248,450 (2023: £245,546).
36
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 18 **RESTRICTED FUNDS**
|UK Sport – IRIS
UK Sport – Social Impact Project
Manager
UK Sport – Paris & Milan-Cortina
Award
UK Sport – Athlete Network
Recruitment
UKS – World Federation Bid
Support
DSDT – Athlete Community
Training
Equal Play Film
Thomas Pocklington Trust PIP
Goldman Sachs Gives Annual
Giving Fund|**Balance**
**Movement in Funds:**
**1 April**
**2023**
**Incoming**
**Resources**
**Resources**
**Expended**
**£**
**£**
**£**
258
-
-
-
2,000
20,000
-
-
-
15,000
20,000
773,033
82,331
-
-
1,000,000
5,000
24,961
(2,642)
(20,000)
(773,033)
(82,331)
(2,000)
(20,000)
(824,570)
-
-
_______
________
________
22,258
1,920,325
(1,724,576)
|**Transfers**
**Between**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
________
-
|**Balance**
**31 March**
**2024**
**£**
12,616
-
-
-
-
-
175,430
5,000
24,961
________
218,007
|
|---|---|---|---|
Funds expended on capital items are transferred to unrestricted funds once spent.
During the year:
- UK Sport provided the following awards:
- a multi-year award to support education, preparation and athlete classification for the Paris 2024 Summer Paralympic Games with a contribution to similar costs for the Milan-Cortina 2026 Winter Games.
- an £82k award to support the development of the pathway into Paralympic sport.
- a £20K grant to support the appointment of a Project Manager to oversee the day-to-day delivery of UK Sport and the BPA’s joint Para Sport Events 23/24 social impact and audience engagement programme.
- a £25K grant to enable the BPA to help prepare bids for the creation of UK-located World governance bodies for Para Swimming and Para Athletics.
- the IRIS grant is a further award from UK Sport to support the BPA’s engagement within the International Paralympic movement.
- An individual donor provided £1m to fund the production and release campaign of a film highlighting the inequity faced by disabled children and the importance of sport, supporting the BPAs social impact strategy and encouraging commercial partnerships to make a difference.
- Value in Kind - this is support from Commercial Partners in the form of value in kind, as set out in Note 2, Donated Facilities and Services.
37
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 19 **ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|
|Fund Balances at 31 March 2024 are represented by:||||
|Tangible Fixed Assets|55,546|-|55,546|
|Current Assets|10,700,874|218,007|10,918,881|
|Current Liabilities|(3,835,591)|-|(3,835,591)|
||________|________|________|
|**Total Net Assets**|6,920,829|218,007|7,138,836|
||________|________|________|
## 20 **COMPARATIVE FIGURES FOR ALL FUNDS**
The comparatives for both the Unrestricted and Restricted Funds in 2023 are as follows:
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|
|Fund Balances at 31 March 2023 are represented by:||||
|Tangible Fixed Assets|89,306|-|89,306|
|Current Assets|9,511,646|22,258|9,533,904|
|Current Liabilities|(3,527,130)|-|(3,527,130)|
||________|________|________|
|**Total Net Assets**|6,073,822|22,258|6,096,080|
||________|________|________|
## 21 **RELATED PARTY TRANSACTIONS**
The balance due by the British Paralympic Association to British Paralympic Enterprises at 31 March 2024 was £2,888,546 (2023: £1,755,852). The balance due by the British Paralympic Association to the Paralympic World Cup Limited at 31 March 2024 was £Nil (2023: £Nil). Amounts owed to the British Paralympic Association by the British Paralympic Performance Services Limited were £81,291 (2023: £556,848).
The British Paralympic Association has a joint venture company with the British Olympic Association, “2016 Crest Holding Limited” (2016CHL), a company limited by guarantee. The liability of each of the organisations is limited to £10. The company holds the rights to the crest that featured on the kit for the 2016 Rio Paralympic Games (and which has the potential to feature on future kit, depending on creative decisions). The activities of 2016CHL have not been consolidated. The balance due by the British Paralympic Association to British Olympic Association was £32,514 (2023: £Nil).
38
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## 22 **DONATIONS FROM TRUSTEES**
The aggregate value of donations received from Trustees in the year was £Nil (2023: £Nil).
## 23 **SHARE CAPITAL**
The Company is limited by guarantee and has no share capital.
The 35 (2023: 34) voting members of the Company have undertaken to contribute an amount not exceeding £10 each to the assets of the Company in the event of it being wound up.
## 24 **CONTROLLING PARTY**
The Company is under the control of its voting members.
## 25 **PRIOR YEAR ADJUSTMENT**
During the current financial year, assets that had previously been classified as tangible fixed assets have been reclassified as intangible fixed assets. As a result the prior year submitted figures of £56,096 have been restated.
39