Squash United Foundation

	Page
Reference and Administrative Details	1
Trustees' Report	2—4
Independent Examiner's Report	5
Statement of Financial Activities (including Income and Expenditure Account)	6
Comparative Statement of Financial Activities (including Income and Expenditure Account)	7
Balance Sheet	8
Notes to the Financial Statements	9—14

Charitable Status

The company obtained charitable status on the 7th April 2017.

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Squash United Foundation

Company No. 10236715

Trustees' Report For The Year Ended 31 December 2025

Trustees' Report

The trustees present their report and the financial statements for the year ended 31 December 2025.

Objectives and Activities

Aims and Objectives

The Squash United Foundation exists to unite the squash community and use the benefits of the sport to enhance lives and promote sustainable growth by:

Promoting physical and mental well-being through squash.
Expanding access and participation in squash.
Empowering women's leadership in squash.
Supporting grassroots development through expertise and funding.
Championing sustainable development practices within squash.
Creating opportunities for collaboration and knowledge sharing across the sport.

The Foundation’s activities during the year were aligned with these charitable purposes and aimed at delivering sustainable social impact by strengthening the global Squash for Development network.

Significant Activities

A New Direction for the Foundation

The PSA Foundation became the Squash United Foundation ahead of squash's Olympic debut at the LA28 Olympic Games, continuing as the official charitable arm of the PSA Squash Tour.

Theory of Change

During 2025, the Foundation developed a Theory of Change, presented to the trustees in November 2025, setting out how it will strengthen, connect and resource the global Squash for Development ecosystem. It is built on four strategic pillars: (i) grant-making to SDOs; (ii) women in coaching and leadership pathways; (iii) community-based infrastructure and access; and (iv) visibility, shared learning, monitoring and storytelling.

Squash for Development Organisations (SDOs)

The network grew to 14 partner SDOs, which use squash as a pathway to education, leadership, life skills and community well-being, supporting 2,124 participants from underserved populations each week. In the International SDO Impact Report, 95% of children said they were happy or very happy now that they play squash.

Supporting Development Through Grants

During the year the Foundation made grants of £18,924 to partner SDOs, all funded by restricted income:

A second consecutive grant from the Souter Charitable Trust covered food costs for girls at Squash Dreamers in Jordan.
Funding from the Philip King Charitable Trust supported food costs at Khelshala (India), English and Maths tuition at Egoli Squash (South Africa) and facility costs at Squash Dreamers (Jordan).
A restricted donation covered the costs for Squash Dreamers to attend the Squash Summit in Cairo.
Programmes funded by the Britford Bridge Trust grant awarded in 2024 continued into 2025, providing meals at Khelshala, maths tuition at Egoli Squash and squash coaching at Squash Dreamers.

Rebound Equipment Redistribution Programme

Rebound has now distributed 7,485 items of recycled squash gear globally. In 2025 the Foundation launched Rebound Collection Points, with 7 public and 5 private collection points at clubs across the UK.

Squash Summit

In September 2025, alongside the Egyptian Open, the Foundation hosted the Squash Summit in Cairo, bringing together Squash for Development partners from around the world to discuss how the squash community can better serve grassroots players.

Project Beacon

...CONTINUED

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Squash United Foundation

Trustees' Report (continued)

For The Year Ended 31 December 2025

Significant Activities - continued

The first publicly accessible outdoor squash court in the United States opened in Chicago’s Union Park in May 2025. It was delivered with US Squash and the Chicago Park District, and funded through the US Professional Squash Association Foundation.

Community Activations at PSA Events

At the British Open and Manchester Open, 1,138 children received an introductory session from a qualified coach.

Women's Squash Week 2025

In collaboration with US Squash and England Squash, the week ran from 15–21 September with the theme "Empowering Women Through Squash."

Mental Health Support

28 staff from 16 partner organisations completed Youth Mental Health First Aid training delivered by Brightcore Consultancy, benefiting over 1,800 children. The Foundation also funded 21 counselling sessions for PSA Squash Tour players.

Financial Review

Financial Position

Total income for the year was £184,002 (2024: £221,825), of which £18,460 was restricted grant funding from the Souter Charitable Trust, the Philip King Charitable Trust, and a restricted donation towards Squash Summit attendance.

Total expenditure was £217,763 (2024: £211,081), of which £202,763 was spent on charitable activities, including £18,924 of grants to partner organisations.

The charity recorded a deficit of £33,761 for the year (2024: surplus £10,744). This reflects lower donation income than in 2024 and investment in governance as the Foundation relaunched as Squash United Foundation.

Total funds at 31 December 2025 were £37,486 (2024: £71,247), all of which were unrestricted.

Reserves Policy

The trustees aim to hold free reserves, being unrestricted funds not invested in fixed assets, equal to two months of unrestricted expenditure, currently approximately £30,000. This level would allow the charity to meet its commitments to staff and partners and to manage an orderly response to any significant fall in income.

At 31 December 2025 free reserves were £36,406. This included £37,029 owed by the Professional Squash Association (PSA), which was received in full by 31 March 2026. Reserves are above the target level, and Trustees will review the position quarterly.

Principal funding sources

The charity's principal source of funding is the PSA, which contributed £150,000 during the year (2024: £150,000). Other income came from individual donors, trusts and foundations, and member subscriptions. The trustees are working to broaden the charity's income base, including through the Rally28 fundraising programme ahead of LA28.

Structure, Governance and Management

Governing Document

Squash United Foundation is a charitable company limited by guarantee, incorporated on 16 June 2016 and registered as a charity on 7 April 2017. It is governed by its Articles of Association last amended on 17 March 2017 to reflect a change of objects of the Foundation ahead of charity registration.

On 15 December 2025 the charity changed its name from Professional Squash Association Foundation to Squash United Foundation.

In the event of the company being wound up, each member is required to contribute an amount not exceeding £1.

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Squash United Foundation

Trustees' Report (continued)

For The Year Ended 31 December 2025

Trustee Selection Methods

Trustees are appointed by the members or co-opted by the existing trustees in accordance with the Articles of Association. The board seeks a balance of skills across squash, community development, finance, law and governance. New trustees receive an induction covering the charity's objects, Articles, recent accounts and the Charity Commission's guidance on the role of a trustee.

Relationships with related organisations

The PSA is the charity's controlling party as the Foundation’s sole member and principal funder, and the Foundation acts as the official charitable arm of the PSA Squash Tour. The Foundation works closely with World Squash, national governing bodies including US Squash and England Squash, and its network of partner Squash for Development Organisations.

Activities in the United States, including Project Beacon, were funded and delivered through the US Professional Squash Association Foundation, a separate organisation not controlled by the Squash United Foundation. Its income and expenditure are therefore not included in these financial statements.

Public benefit

The trustees 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 when reviewing the charity's aims and objectives and in planning its activities. The activities described in this report, including grants to Squash for Development Organisations serving underserved communities, equipment redistribution and free community coaching sessions, are carried out for the public benefit.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Yi-Ming Peter Lee (ACA)

Trustee

30/10/2026

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Squash United Foundation

Independent Examiner's Report to the Trustees of Squash United Foundation

For The Year Ended 31 December 2025

Independent Examiner's Report to the Trustees of Squash United Foundation

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and Basis of Report

As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jackie Anderson LLB, ICAEW, CIOT

30/10/2026

St Martin's Chambers
8 New Street
Leicester
LE1 5NR

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Squash United Foundation

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Statement of Financial Activities (including Income and Expenditure Account)

				2025	2024
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	165,542	18,460	184,002	221,824
Investments	4	-	-	-	1

		165,542	18,460	184,002	221,825

EXPENDITURE ON:
Raising funds	6	(15,000 )	-	(15,000 )	(15,000 )
Charitable activities:	6
Charitable activities		(183,839 )	(18,924 )	(202,763 )	(196,081 )

		(198,839 )	(18,924 )	(217,763 )	(211,081 )

NET (EXPENDITURE)/INCOME		(33,297 )	(464 )	(33,761 )	10,744


NET MOVEMENT IN FUNDS		(33,297 )	(464 )	(33,761 )	10,744
RECONCILIATION OF FUNDS:
Total funds brought forward		70,783	464	71,247	60,503

TOTAL FUNDS CARRIED FORWARD	14	37,486	-	37,486	71,247

The notes on pages 9 to 14 form part of these financial statements.

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Squash United Foundation

Comparative Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Comparative Statement of Financial Activities (including Income and Expenditure Account)

				2024
		Unrestricted funds	Restricted funds	Total funds
	Notes	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	211,824	10,000	221,824
Investments	4	1	-	1

		211,825	10,000	221,825

EXPENDITURE ON:
Raising funds	6	(15,000 )	-	(15,000 )
Charitable activities:	6
Charitable activities		(186,545 )	(9,536 )	(196,081 )

		(201,545 )	(9,536 )	(211,081 )

NET INCOME		10,280	464	10,744


NET MOVEMENT IN FUNDS		10,280	464	10,744
RECONCILIATION OF FUNDS:
Total funds brought forward		60,503	-	60,503

TOTAL FUNDS CARRIED FORWARD	14	70,783	464	71,247

The notes on pages 9 to 14 form part of these financial statements.

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Squash United Foundation

Balance Sheet

As At 31 December 2025

Balance Sheet

				2025	2024
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11	1,080	-	1,080	1,350

		1,080	-	1,080	1,350
CURRENT ASSETS
Debtors	12	37,029	-	37,029	61,998
Cash at bank and in hand		5,820	-	5,820	8,664

		42,849	-	42,849	70,662
Creditors: Amounts Falling Due Within One Year	13	(6,443 )	-	(6,443 )	(765 )

NET CURRENT ASSETS (LIABILITIES)		36,406	-	36,406	69,897

TOTAL ASSETS LESS CURRENT LIABILITIES		37,486	-	37,486	71,247

NET ASSETS		37,486	-	37,486	71,247

FUNDS OF THE CHARITY
Restricted Funds				-	464
Unrestricted Funds				37,486	70,783

TOTAL FUNDS	14			37,486	71,247

For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Yi-Ming Peter Lee (ACA)

Trustee

30/10/2026

The notes on pages 9 to 14 form part of these financial statements.

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Squash United Foundation

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Squash United Foundation is a company limited by guarantee, incorporated in England & Wales, registered number 10236715 and registered charity number 1172490 . The registered office is 46 The Calls, Leeds, LS2 7EY.

2. Accounting Policies

2.1. 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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Going Concern Disclosure

The trustees have assessed the charity's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. In making this assessment they have considered the deficit for the year, the level of reserves, the receipt since the year end of the balance due from the PSA, and the continued financial support of the PSA. On this basis the trustees consider it appropriate to prepare the financial statements on a going concern basis.

2.3. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor.

2.4. Incoming Resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it

is probable that the income will be received and the amount can be measured reliably.

2.5. Resources Expended

Expenditure is recognised on an accruals basis when there is a legal or constructive obligation to make a payment, it is probable that settlement will be required and the amount can be measured reliably. Expenditure is classified by activity:

• Costs of raising funds are the costs of seeking donations, grants and sponsorship, including the related share of staff costs.

• Expenditure on charitable activities comprises grants to partner organisations, activities undertaken directly (including equipment redistribution, community activations and training), and the related share of support costs.

Support costs, including staff costs not directly attributable to one activity and general administration, are allocated between raising funds and charitable activities.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

20% on a reducing balance basis

2.7. Taxation

The charity is exempt from tax as all its income is charitable and applied for charitable purposes.

2.8. Pensions

The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

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Squash United Foundation

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Grants payable

Grants payable are recognised as expenditure when the charity has made an unconditional commitment to the recipient and the recipient has been informed. Grants with conditions outside the charity's control are recognised when those conditions are met.

3. Income from Donations and Legacies

			2025
	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Donations and gifts	160,507	-	160,507
Member subscriptions and sponsorships	4,570	-	4,570
Grants	-	18,460	18,460
Other	465	-	465

	165,542	18,460	184,002

			2024
	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Donations and gifts	187,999	-	187,999
Member subscriptions and sponsorships	8,692	-	8,692
Grants	10,000	10,000	20,000
Other	5,133	-	5,133

	211,824	10,000	221,824

Comparative figures have been reclassified to be consistent with the current year presentation. There is no effect on total income or funds.

4. Investment Income

	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Bank interest receivable	-	1

5. Net Income/(Expenditure)

The net (expenditure)/income is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible fixed assets - owned	270	338

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Squash United Foundation

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Analysis of Expenditure

				2025
	Activities undertaken directly	Grant funding of activities (see note 7 )	Support costs (see note 8 )	Total
	£	£	£	£
Raising funds	-	-	15,000	15,000
Charitable activities	23,285	18,924	160,554	202,763

	23,285	18,924	175,554	217,763

				2024
	Activities undertaken directly	Grant funding of activities (see note 7 )	Support costs (see note 8 )	Total
	£	£	£	£
Raising funds	-	-	15,000	15,000
Charitable activities	50,797	11,149	134,135	196,081

	50,797	11,149	149,135	211,081

Support costs are allocated between raising funds and charitable activities on the basis of estimated staff time spent on each activity.

7. Grants Payable

	2025	2024
	Grants to	Grants to
	Institutions	Institutions
	£	£
Charitable activities	18,924	11,149

During the year the charity made grants totaling £18,924 (2024: £11,149) to the following partner organisations.

	2025	2024
	£	£
Squash Dreamers (Jordan - Food, facility and Squash Summit attendance costs)	11,890	4,649
Khelshala (India - Food costs)	3,734	3,200
Egoli Squash (South Africa - English and Maths tuition)	3,300	3,300

	18,924	11,149

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Squash United Foundation

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Support Costs

			2025
	Raising funds	Charitable activities	Total
	£	£	£
Employee costs	15,000	132,731	147,731
General administration	-	27,553	27,553
Depreciation	-	270	270

	15,000	160,554	175,554

			2024
	Raising funds	Charitable activities	Total
	£	£	£
Employee costs	15,000	114,735	129,735
General administration	-	19,062	19,062
Depreciation	-	338	338

	15,000	134,135	149,135

9. Staff Costs

Staff costs were as follows:

	2025	2024
	£	£
Wages and salaries	125,260	114,394
Social security costs	13,660	11,047
Other pension costs	4,594	4,294

	143,514	129,735

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

10. Average Number of Employees

Average number of employees during the year was: 3 (2024: 3)

11. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2025	1,688

As at 31 December 2025	1,688

Depreciation
As at 1 January 2025	338
Provided during the period	270

As at 31 December 2025	608

...CONTINUED

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Squash United Foundation

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	1,080

As at 1 January 2025	1,350

12. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	37,029	61,998

Other debtors comprise £37,029 (2024: £61,998) due from the PSA, which contributes £150,000 a year to the charity. The balance represents agreed contributions due but not yet received at the year end and is not in dispute. The full balance was received by 31 March 2026.

13. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Accruals and deferred income	6,443	765

14. Movement in Funds

	As at 1 January 2025	Income	Expenditure	As at 31 December 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	70,783	165,542	(198,839 )	37,486
Restricted funds
Restricted fund	464	18,460	(18,924 )	-


Total funds	71,247	184,002	(217,763 )	37,486

	As at 1 January 2024	Income	Expenditure	As at 31 December 2024
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	60,503	211,825	(201,545 )	70,783
Restricted funds
Restricted fund	-	10,000	(9,536 )	464


Total funds	60,503	221,825	(211,081 )	71,247

(Restricted funds: see note 19.)

15. Transactions with Trustees

None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.

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Squash United Foundation

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

No trustee expenses have been incurred.

16. Related Party Disclosures

The PSA is related by virtue of its control over the charitable company.

During the year the charity received donations of £150,000 (2024: £150,000) from the PSA, included within ‘Donations and gifts’ in note 3.

At 31 December 2025 the PSA owed the charity £37,029 (2024: £61,998), as set out in note 12.

Alex Gough, a trustee of the charity, is also an employee of the PSA.

17. Controlling Parties

The charitable company's ultimate controlling party is the PSA .

18. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

19. Restricted funds

Souter Charitable Trust

The purpose of the Souter Charitable Trust is to support food costs for girls attending Squash Dreamers, Jordan.

In 2025, the opening balance of restricted funds was £464, there was £4,000 income and £4,464 expenditure, with no restricted funds carried forward.

Philip King Charitable Trust

The purpose of the Philip King Charitable Trust is to support food costs at Khelshala (India), English and Maths tuition at Egoli Squash (South Africa), and facility costs at Squash Dreamers (Jordan).

In 2025, there was £13,400 income and expenditure, with no restricted funds brought or carried forward.

Private Donation

In 2025, the Foundation received a donation of £1,060 from a private donor for Squash Dreamers (Jordan) to attend the Squash Summit in Cairo, Egypt.

The full donation was used with no restricted funds brought or carried forward.

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Trustees	Mr Simon Goldberg
	Mr Yi-Ming Peter Lee (ACA)
	Mr Nick Matthew
	Mrs Alicia McConnell
	Mr Alex Gough
	Mr Michael Hill
	Miss Sarah-Jane Perry
	Mr Brian MacDougall
	Ms Tanya Stenz (appointed 04/06/2026)

Company Secretary	Mr Simon Goldberg

Charity Number	1172490

Company Number	10236715

Registered Office	46 The Calls
	Leeds
	LS2 7EY

Independent Examiner	Jackie Anderson LLB, ICAEW, CIOT
	LHA Consulting Limited
	St Martin's Chambers 8 New Street Leicester LE1 5NR