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Front Sheet
English Sports Development Trust Limited Annual Report and Accounts 2025 -2026 For the period 1 April 2025 to 31 March 2026 Accounts presented to the Parliament pursuant to Article 6(2)(b) of the Government Resources and Accounts Act 2000 (Audit of Non-profit-making Companies) Order 2009 Report presented to Parliament by Command of His Majesty Ordered by the House of Commons to be printed on 25 June 2026 HC 278 © Sport England Copyright 2026 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3. Where we have identified any third-party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/official-documents. Any enquiries regarding this publication should be sent to us at feedback@sportengland.org ISBN: 978-1-5286-6587-2 E03622110 06/26 Printed on paper containing 40% recycled fibre content minimum Printed in the UK by HH Associates Ltd. on behalf of the Controller of His Majesty’s Stationery Office Contents 1-4 Strategic Report 5-6 Directors’ report 7-8 Statement of Directors’ Responsibilities 9-15 The certificate and report of the Comptroller and Auditor General to the members of the English Sports Development Trust Limited and Houses of Parliament 16 Statement of comprehensive net income 17 Statement of financial position 18 Statement of cash flows and Statement of changes in equity 19-22 Notes to the Accounts
Strategic report
The English Sports Development Trust Limited (ESDTL) is a company limited by guarantee whose sole member and parent is the English Sports Council (ESC). The Company’s purpose is to deliver the commercial contracts related to the media buying arrangements for the women’s marketing campaign (‘This Girl Can’) and previously, the campaign to keep adults active during lockdown (‘Join the Movement’), both managed by the ESC. A Parent/Subsidiary Memorandum between the Company and the ESC, effective from 1 August 2014, provides the operating and governance framework between the two entities. The Board of Directors monitor the progress of the campaigns, review and implement the paid media planning and buying contracts, and can provide reports back to the ESC on request. The Chair has accountability for the management of the Company’s operations. To facilitate effective operations, the Chair delegates authority for the day-to-day administration to officers of the ESC through a Service Level and Agency Agreement. This means that the Company has no employees. The Company’s activities are funded by grants from the ESC National Lottery Fund. A business case securing future investment into a new phase of the TGC campaign was approved by ESC’s Main Board in September 2024. This included an award of £21.2m (including VAT) to ESDTL to invest in paid media to support the campaign. An application under Section 27 of the National Lottery etc Act was submitted to DCMS for ministerial approval. This approval was received on 29 May 2024 and has enabled ESDTL to invest in paid media for this new phase over the next four years (2025-2028). This Girl Can The current phase - We Like the Way You Move, of This Girl Can returned to TV screens, high streets and newsfeeds in 2025/26, with ESDTL investing £6.2m in paid media for the first time in five years to support the behaviour change campaign. As a result, 53% of all women – and 53% of all women on lower incomes – now recognise This Girl Can. This is an important milestone and reinforces the enduring strength of the This Girl Can platform and its ability to reach women. The challenge now is turning recognition into sustained action, particularly among the women who face the greatest barriers to being active. The current phase is built on the strategy ‘Belonging Starts with Inclusion’, focused on the least active women identified by Sport England data: those on low incomes and additionally from Black or South Asian Muslim communities, pregnant or new mothers, and women aged 55 . These groups face practical, cultural and emotional barriers that too often make exercise and movement feel inaccessible and not designed for them. As one participant reflected: “I thought I wasn’t built for exercise; it turns out exercise wasn’t built for me.” Our role is not simply to encourage women to move more but to help to create the conditions in which movement feels possible, welcoming and achievable. That means engaging women with relevant, motivating messaging while also challenging and supporting the sector to adapt and better meet women where they are. The current phase is delivered through three components: Raise It (awareness), Shape It (sector support), and Celebrate It (consumer campaign). The creative platform, We Like the Way You Move, celebrates real women getting active in ways that work for them, reframing activity as accessible and inclusive. Set to a specially recorded soundtrack that repurposed the Bodyrockerz classic, through I Like the Way You Move — shifting the perspective from male gaze to female celebration — we showed footage of everyday women from our target audiences getting active in different ways that work for them. Authenticity remained as critical as ever – from those featured in the campaign doing what they genuinely do, to the locations used across the country. These images were then translated into striking, joyful and uplifting posters and posts that emphasised how movement can make you feel right now — more energy, more confidence, better mood, better sleep. The call to action, Start with just 10 minutes, was designed to make movement feel achievable for women with busy lives and heavy mental loads. The work was developed through a new, diverse agency model bringing together 23Red, House of Oddities and multicultural specialists MMC, supported by two remunerated steering panels to ensure the work genuinely connected with the women we most need to reach. Visibility also matters. Our women will not necessarily seek this campaign out looking for us, which is why paid media investment remains so important, especially after a 5-year gap. With funding secured through to March 2028, we have been able to move away from short term annual planning and towards a longer term strategic approach across 3 years, focussed on building brand reach and awareness (scaled reach), community relevance (using trusted voices to speak to our women) and actionable awareness (supporting the journey from awareness into action) over time. The campaign has delivered strongly across most channels and encouragingly, awareness now exceeds 50% among priority audiences, with particularly strong performance among Black women, South Asian Muslim women and new mothers. Recognition remains lower than anticipated among women aged 65–74 — we are exploring establishing a steering panel of older women to help us generate cut-through here too. Our brand tracker, conducted by Walnut Research, shows that although the campaign is effective at prompting short term action, impact is not sustained and it is not yet consistently translating into long term behaviour change. That willingness and honesty to adapt is an important part of This Girl Can’s continued success. We are already evolving both the creative and media strategies for the next activity this autumn to place greater emphasis on community connection, actionable support and habit-building. We plan to launch a time-bound challenge encouraging women to move more and reflect on how that makes them feel, as well as giving more prominent calls to action in our messaging. Importantly, advertising alone will not help more inactive women get and stay active. This Girl Can continues to play a wider role in influencing both the sector and society. Alongside this, we are developing our ‘Shape It’ resources to provide guidance, advice and urgency. We are also working intensively in five place-based pilots — Havant, Blackburn with Darwen, Hull, Leicester and Birmingham – to better understand how national campaigns can connect with place-based working, local communities and lived experiences. These will be applied across ‘This Girl Can’ and integrated into Sport England’s broader work and priorities. We are also continuing to challenge the wider societal barriers that prevent women from being active, particularly around harassment and intimidation. Our ‘Safer Spaces to Move’ guidance, a collaboration with ukactive, supports gyms and facility owners in creating more inclusive environments. Our third ‘Let’s Lift the Curfew’ activation saw over 11,500 runners take part in 300 runs across the country to highlight the impact darker evenings can have on women’s freedom and ability to be active. This Girl Can’s mission is as important now as it’s ever been. Yet reaching the least active women and persuading them to get active, particularly in an increasingly fragmented media landscape, is becoming more complex. This is reflected in the work of ESDTL, both as a board and a wider team. In my first year as Chair, I would like to thank my fellow directors for the commitment, challenge and expertise they continue to bring to this work. As we start to consider what happens to This Girl Can beyond March 2028, our focus remains clear: delivering the greatest best possible impact and ensuring more women feel able to be active in ways that work for them. Everyone should feel that being active is for them – and This Girl Can, ESDTL and our partners remain committed to making that a reality.
Signature of Strategic Report
This report was approved and signed on behalf of the board
Director | Pippa Glucklich
Date | 22 June 2026
End of Strategic Report
Directors' report
The Directors present their report on the affairs of the Company together with the accounts and auditor’s report for the year ended 31 March 2026. This report has been prepared in accordance with the special provisions relating to small companies under section 419 of the Companies Act 2006. The Company is not required to apply rules on Non-Financial and Sustainability Reporting as it qualifies as a small company and has less than 500 employees and a turnover of less than £500m. Directors The Directors who served during the year are: Mel Bound Pippa Glucklich (took over as Chair from 27 November 2025) David Mahoney (resigned on 27 November 2025) Kate Miller Chetan Murthy Jitendra Patel was appointed as Company Secretary on 7 June 2024. The ESDTL Board normally meets four times during the year. The Company employed no staff in 2026 or 2025. The English Sports Council provides a financial and administrative service to the Company, under the terms of a service level agreement, for which no charge is made. The Directors did not receive any fees or allowances for the year. There are no related party transactions with Directors to disclose in note 10 of these accounts. Our conflict of interests policy requires all members of staff including Directors, to declare any interests that pertain to themselves or their immediate families which could impact on their role at Sport England and its companies. A register of interests is maintained and is available by submitting a freedom of information request to foi@sportengland.org. No significant data breaches have been reported to the Information Commissioner’s Office in the current year. Registered address Sport Park, Oakwood Drive, Loughborough, England, LE11 3QF. Sole member The English Sports Council. Auditor The Comptroller and Auditor General, National Audit Office, 157 - 197 Buckingham Palace Road, Victoria, London, SW1W 9SP. Financial review During the year, the Company received a £6,169k Lottery grant (2024-25: £171k). Licensing income from the “This Girl Can” brand is partially offset by audit and other administration costs. There is an accrual of £10,000 for audit fees at 31 March 2026 (2025: £6,000), supported by funds held by the ESC on behalf of the Company (see note 10 to the accounts). The movement in the general reserve was nil due to all costs incurred being recoverable via recharges to ESC or accrued Lottery grant drawdowns. Future developments and going concern These are discussed in the Strategic Report on pages 1 to 4 and further details on going concern are included in Note 1.1 of the Notes to the accounts on page 19. ## Statement as to disclosure of information to auditors The Directors who were in office on the date of approval of these accounts have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the Directors has confirmed that they have taken all the steps that they ought to have taken as Directors to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors Statement of Directors’ responsibilities The Directors are responsible for preparing the annual report and accounts in accordance with applicable law and regulations. Company law requires the Directors to prepare accounts for each financial year. Under that law, the Directors have elected to prepare the accounts in accordance with International Financial Reporting Standards as adopted by the United Kingdom (IFRS as adopted by the UK) and applicable law. Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to: · select suitable accounting policies and then apply them consistently; · make judgements and estimates that are reasonable, relevant and reliable; · state whether they have been prepared in accordance with IFRS as adopted by the UK; · assess the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and use the going concern basis of accounting unless they either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so; and · The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps, as are reasonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities
Signature of Directors' Report
This report was approved and signed on behalf of the board
Director | Pippa Glucklich
Date | 22 June 2026
End of Directors Report

Auditors' Report
OPINION ON FINANCIAL STATEMENTS I have audited the financial statements of English Sports Development Trust Limited for the year ended 31 March 2026 under the Government Resources and Accounts Act 2000. The financial statements comprise the English Sports Development Trust Limited’s - Statement of Financial Position as at 31 March 2026; - Statement of Comprehensive Net Income, Statement of Cash Flows and Statement of Changes in Equity for the year then ended; and - the related notes including the significant accounting policies. The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and the UK adopted International Accounting Standards. In my opinion the financial statements: - give a true and fair view of the state of the English Sports Development Trust Limited’s affairs as at 31 March 2026 and its net operating income after taxation for the year then ended; and - have been properly prepared in accordance with the UK adopted International Accounting standards and - have been prepared in accordance with the requirements of the Companies Act 2006. OPINION ON REGULARITY In my opinion, in all material respects, the income and expenditure recorded in the financial statements have been applied to the purposes intended by Parliament and the financial transactions recorded in the financial statements conform to the authorities which govern them. BASIS FOR OPINIONS I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)), applicable law and Practice Note 10 Audit of Financial Statements and Regularity of Public Sector Bodies in the United Kingdom (2024). My responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of my certificate. Those standards require me and my staff to comply with the Financial Reporting Council’s Revised Ethical Standard 2024. I am independent of the English Sports Development Trust Limited in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK. My staff and I have fulfilled our other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, I have concluded that the English Sports Development Trust Limited’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work I have performed, I have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the English Sports Development Trust Limited'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. My responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this certificate. OTHER INFORMATION The other information comprises information included in the Annual Report, but does not include the financial statements and my auditor’s certificate thereon. The directors are responsible for the other information. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my certificate, I do not express any form of assurance conclusion thereon. My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or my knowledge obtained in the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard. OPINION ON OTHER MATTERS In my opinion, based on the work undertaken in the course of the audit: - the information given in the Strategic report and the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Strategic report and the Directors’ Report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH I REPORT BY EXCEPTION In the light of the knowledge and understanding of the English Sports Development Trust Limited and its environment obtained in the course of the audit, I have not identified material misstatements in the Strategic report and the Directors’ Report. I have nothing to report in respect of the following matters which I report to you if, in my opinion: - adequate accounting records have not been kept or returns adequate for my audit have not been received from branches not visited by my staff; or - the financial statements to be audited are not in agreement with the accounting records and returns; or - I have not received all of the information and explanations I require for my audit. RESPONSIBILITIES OF THE DIRECTORS FOR THE FINANCIAL STATEMENTS As explained more fully in the Statement of Directors’ Responsibilities, the directors are responsible for: - maintaining proper accounting records; - providing the C&AG with access to all information of which management is aware that is relevant to the preparation of the financial statements such as records, documentation and other matters; - providing the C&AG with additional information and explanations needed for his audit; - providing the C&AG with unrestricted access to persons within the English Sports Development Trust Limited from whom the auditor determines it necessary to obtain audit evidence. - ensuring such internal controls are in place as deemed necessary to enable the preparation of financial statements to be free from material misstatement, whether due to fraud or error; - preparing financial statements, which give a true and fair view, in accordance with the Companies Act 2006; - preparing the Annual Report, in accordance with the Companies Act 2006; and - assessing the English Sports Development Trust Limited’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 Directors either intend to liquidate the entity or to cease operations, or has no realistic alternative but to do so. AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS My responsibility is to audit and report on the financial statements in accordance with the Government Resources and Accounts Act 2000. My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a certificate that includes my 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. Extent to which the audit was considered capable of detecting non-compliance with laws and regulations including fraud I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of non-compliance with laws and regulations, including fraud. The extent to which my procedures are capable of detecting non-compliance with laws and regulations, including fraud is detailed below. Identifying and assessing potential risks related to non-compliance with laws and regulations, including fraud In identifying and assessing risks of material misstatement in respect of non-compliance with laws and regulations, including fraud, I: - considered the nature of the sector, control environment and operational performance including the design of the English Sports Development Trust Limited’s accounting policies. - inquired of management, the head of internal audit and those charged with governance, including obtaining and reviewing supporting documentation relating to the English Sports Development Trust Limited’s policies and procedures on: - identifying, evaluating, and complying with laws and regulations; - detecting and responding to the risks of fraud; and - the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations including the English Sports Development Trust Limited’s controls relating to the English Sports Development Trust Limited’s compliance with the Companies Act 2006, Government Resources and Accounts Act 2000 and Managing Public Money. - inquired of management, the head of internal audit and those charged with governance whether: - they were aware of any instances of non-compliance with laws and regulations; - they had knowledge of any actual, suspected, or alleged fraud; - discussed with the engagement team and the relevant internal specialists, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, I considered the opportunities and incentives that may exist within the English Sports Development Trust Limited for fraud and identified the greatest potential for fraud in the following areas: revenue recognition, posting of unusual journals, complex transactions, and bias in management estimates. In common with all audits under ISAs (UK), I am required to perform specific procedures to respond to the risk of management override. I obtained an understanding of the English Sports Development Trust Limited’s framework of authority and other legal and regulatory frameworks in which the English Sports Development Trust Limited operates. I focused on those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements or that had a fundamental effect on the operations of the English Sports Development Trust Limited. The key laws and regulations I considered in this context included Companies Act 2006, Government Resources and Accounts Act 2000, Managing Public Money, and tax Legislation. Audit response to identified risk To respond to the identified risks resulting from the above procedures: - I reviewed the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described above as having direct effect on the financial statements; - I enquired of management, the Audit, Risk and Governance Committee concerning actual and potential litigation and claims; - I reviewed minutes of meetings of those charged with governance and the Board and internal audit reports; - I addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and other adjustments and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. I communicated relevant identified laws and regulations and potential risks of fraud to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A further description of my responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of my certificate. Other auditor’s responsibilities I am required to obtain sufficient appropriate audit evidence to give reasonable assurance that the expenditure and income recorded in the financial statements have been applied to the purposes intended by Parliament and the financial transactions recorded in the financial statements conform to the authorities which govern them. I communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control I identify during my audit. Report I have no observations to make on these financial statements.
Auditor | Gareth Davies(National Audit Office)
Date | 23 June 2026
End of Auditors Report

Audited Financial Statements
for
English Sports Development Trust Limited
Income Statement
for the year ended 31 March 2026
| Note | 2026 | 2025
| £000s | £000s
Turnover |  | - | -
Other Income | 6,179 | 177
Cost of sales | - | -
Gross profit |  | 6,179 |  | 177
Administrative expenses | (6,179) | (177)
Operating profit |  | - |  | -
Profit (Loss) on Ordinary Activities before Tax |  | - |  | -
Tax on ordinary activities |  | - | -
Profit (Loss) on Ordinary Activities after Tax |  |  | - |  | -
Profit (Loss) for the financial year |  |  | - |  | -
Statement of Comprehensive Income
for the year ended 31 March 2026
| 2026 | 2025
| £000s | £000s
Profit for the financial year |  | - | - |
Unrealised Gain (loss) investments | - | - |
Total comprehensive income for the financial year |  | - | -
Statement of Financial Position
at 31 March 2026
| Note | 2026 | 2025
| £000s | £000s
Fixed Assets
|  | - |  | -
Current assets
Stocks |  | - |  | - |
Debtors |  | 1,191 |  | 608 |
Cash at bank and in hand |  | - |  | - |
| 1,191 |  | 608 |
Creditors: amounts falling due within one year |  | (760) |  | (177) |
Net current assets |  | 431 |  | 431
Total assets less current liabilities |  | 431 |  | 431
Creditors: amounts falling due after more than one year |  | (-) | (-)
Net Assets |  | 431 |  | 431
Capital and Reserves
Called up Share Capital |  | - | -
Profit and Loss account |  | 431 | 431
Total Equity |  |  | 431 |  | 431
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Other Footnotes
ESDTL qualifies for exemption from the requirements of Part 16 of the Companies Act 2006 under section 482 (non-profit making companies subject to public sector audit) of that Act. The financial statements are subject to audit by the Comptroller and Auditor General under the Government Resource and Accounts Act 2000 (Audit of Public Bodies) Order 2017
Signature of Statement of Financial Position
Signed by
Director | Pippa Glucklich
Approved by the board, | 22 June 2026
Statement of Changes in Equity
| Share Capital | Profit and Loss Account | Total
| £000s | £000s | £000s
At 1 April 2024 | 0 | 431 | (46)
Trading Income | - | - | -
Dividends paid | - | (-) | (-)
At 31 March 2025 | 0 | 431 | 431
At 1 April 2025 | 0 | 431 | 431
Trading Income | - | - | -
Dividends paid | - | (-) | (-)
At 31 March 2026 | 0 | 431 | 431
Statement of Cash Flows
at 31 March 2026
| Note | 2026 | 2025
| £000s | £000s
Operating Activities |  |
Profit (Loss) of the Year before Tax |  | - | -
(Increase)/Decrease in Inventory |  | - | -
(Increase)/Decrease in Debtors |  | (583) | (125)
Increase/(Decrease) in Creditors |  | 583 | 171
Corporation tax paid |  | - | 46
Net Cash Flow (outflow) from operating activities |  | (0) | -
Investing Activities |  |
Net Cash Flow (outflow) from investing activities |  | - | -
Financing Activities |  |
Increase/(decrease) in Short Term finance |  | - | -
Increase/(decrease) in Long Term finance |  | - | -
Issue of Share Capital |  | - | -
Net Cash Flow/(outflow) from financing activities |  | - | -
Increase (decrease) in cash and cash equivalents |  | (0) | -
Cash and equivalents at Period Start |  | - | -
Cash and equivalents at Period End |  | - | -

Notes to the financial statements
at 31 March 2026
1. General Information
English Sports Development Trust Limited is a Company Limited by Shares incorporated in the United Kingdom and registered in England and Wales.
Registered Office Address:
English Sports Development Trust Limited
Sports Park, Oakwood Drive
Loughborough
Leicestershire
LE11 3QF
1 Statement of accounting policies The accounts have been prepared under the historical cost convention in accordance with International Financial Reporting Standards (IFRS) as adopted by the United Kingdom, and the Companies Act 2006. The policies adopted by the ESDTL as set out and described below have been applied consistently to all periods presented in these accounts. 1.1 Going concern The Company’s activities are funded by Lottery grants from the ESC National Lottery Fund, for the purpose of paid media. This is awarded by the Secretary of State for Culture, Media and Sport, under section 27 of the National Lottery etc. Act 1993. Funding for ESDTL to run paid media campaigns requires Section 27 approval which has been obtained from DCMS on 29 May 2024 to fund the company’s activities for the next four years (up to 31 March 2028). As a result, these accounts are prepared on a going concern basis. 1.2 Expenditure All expenditure is recognised on an accruals basis once liability is incurred. 1.3 Trade and other receivables/ payables Trade and other receivables are non-derivative financial assets with fixed or determinable payments that are not traded in an active market. Since these balances are expected to be realised within 12 months of the reporting date, they are measured at transaction price less provision for any impairment. The Company has no bank account and uses the bank account of ESC to receive Lottery and other funds which are held for the payment of expenditure relating to the Company, as and when needed. Such amounts held on its behalf are included in other receivables as an amount owed from ESC. Trade and other payables are measured at the transaction price. 1.4 Dividends The Company is prohibited by its Articles of Association from declaring a dividend. 1.5 Taxation Corporation tax is payable on Trademark and licence income derived from trading activities. 1.6 Value Added Tax The Company is in a group VAT registration scheme with ESC and is jointly and severally liable for all group VAT liabilities. No VAT is charged on transactions between members of the VAT group. 1.7 Reporting standards issued but not yet effective There are two reporting standards issued but not yet effective: IFRS 18 (Presentation and Disclosure in Financial Statements) was issued in April 2024 replacing IAS 1 (Presentation and Disclosure in Financial Statements) and is effective for annual reporting periods beginning on or after 1 January 2027. Early adoption is permitted but ESDTL will not do so. IFRS 19 (Subsidiaries Without Public Accountability) was issued In May 2024 and is effective for annual reporting periods beginning on or after 1 January 2027. Early adoption is permitted but ESDTL will not do so. ## 2 Lottery grant
| 2026 | 2025
| £’000 | £’000
Lottery grant | 6,169 | 171
Total | 6,169 | 171
The Lottery grant relates to the “This Girl Can” brand campaign media planning and buying costs. ## 3 Other income
| 2026 | 2025
| £’000 | £’000
Costs recharged to ESC | 10 | 6
Total | 10 | 6
The costs recharged to ESC consist of audit fees for both years ## 4 Media planning and buying
| 2026 | 2025
| £’000 | £’000
Media buying | 6,147 | -
Media planning | 22 | 171
Total | 6,169 | 171
Media buying and planning costs relate to the “This Girl Can” brand campaign. ## 5 Auditor’s remuneration
| 2026 | 2025
| £’000 | £’000
Audit fees | 10 | 6
There were no fees for non-audit work in 2026 and 2025. The audit fees for both years have been recharged to ESC, £10,000 in 2026 and £6,000 in 2025. 6 Staff Costs The Company employed no staff in 2026 and 2025. ESC provides a financial and administrative service to the Company, under the terms of a service level agreement, for which no charge is made (note 10). The Directors did not receive fees or allowances for the year. ## 7 Trade and other receivables
| 2026 | 2025
| £’000 | £’000
Accrued income | 760 | 177
English Sports Council (ESC) | 431 | 431
Total | 1,191 | 608
Accrued income includes audit fees recharged to ESC and Lottery grant relating to media planning of the “This Girl Can” brand campaign. ## 8 Trade and other payables
| 2026 | 2025
| £’000 | £’000
Accruals | 760 | 177
Corporation tax | - | -
Total | 760 | 177
Accruals consist of audit fees, media planning costs and statutory filing costs. 9 Derivatives and other financial instruments The Company relies entirely on the ESC National Lottery Fund grant to finance its operations. Other than trade receivables and trade payables that arise from its operations, it holds no financial instruments. The Company performs all transactions in Sterling and therefore has no currency exchange risk. The Company does not enter any forward foreign currency contracts or similar financial instruments. The Company does not borrow money and therefore has no exposure to interest rate risk or liquidity risk in this regard. The Company does not enter any interest rate swaps or similar financial instruments. 10 Related party transactions The Company has a close working relationship with its parent body ESC. ESC National Lottery Fund is the Company's main provider of funds, enabling it to conduct its objectives via the Lottery grant (note 2). ESC provides a financial and administrative service to the Company for which no charge is made. The Company has no bank account and uses the bank account of ESC to receive Lottery funds, which are held for the payment of expenditure relating to the Company.
| 2026 | 2025
| £’000 | £’000
Lottery grant income from ESC National Lottery Fund | 6,169 | 171
Recharged income from ESC | 10 | 6
Amount owing from ESC | 431 | 431
11 Ultimate parent body The results of the Company (registered and incorporated in the UK) are consolidated in the accounts of the ESC. The accounts of the ESC Group are available from its registered office at Sport Park, 3 Oakwood Drive, Loughborough, Leicestershire, England LE13 3QF. 12 Post financial year-end events On 23 April 2026, a contract was signed with Wavemaker Limited (trading as WPP 650) for the provision of media planning and buying services to execute spend to the value of £12.332m on ESDTL’s behalf
End of Notes to Financial Statements