harity Registration No. 1011611 THE PIED PIPER TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE PIED PIPER TRUST LEGAL AND ADMINISTRATIVE INFORMATION N Broady- Chairman Mr R Head DL. OBE- Chair ofTruste8S MrJ Lews Mrs J Kent MBE Di M Owen Mr R Ik@Y Mr R Byrd Ms C Hage MrTFry MrKDay Dr C Thompsc Mr S Wlmer Foundèr Nonnan Peter Htckman MBE Patron Vlc• Patrons Jill D Charfie ShaWes Ajex Gidman Henry Trinder Robert Freem (reswd 4 May 20211 Chartty rtUMr 1011611 PTlnclpal addroBs Glijjcesler Royal Hospitsl Great KÈstem Road GkMKester United ftYd GL1 3NN Ind•p•nd8llt oxamin•r Sarah Case FCA DChA A2elsAudrt Semces Pillar House 11>115Bath Road Cheltenham Gloucestershire United In]0M CL53 7LS
THE PIED PIPER TRUST LEGAL AND ADMINISTRATIVE INFORMATION Bankers Bardays Bank PIC 128 High Street ChettenlkHm Gl(#Jce*ershire United Krngdoxn GL50 1EL HarKlelsbanken Gkjucester Branth 1145 Rets Court Gloucester Bustness Park GIOuster United GL34AD Uoyds Bank High Streèt Cheltenham GIou[erslTÈ Unrted lfjnglom GL50 1 EW Solicitots Harrison Clatk Rickerbys LLP rjo Harrison Clark Rickerbys Limited Ellentxjrough House Wellington Street Chehenham Gloucestershire United ngdoffl GLSO 1YD
THE PIED PIPER TRUST CONTENTS Page Tntstees. report Inoependent examineffs rep(wt Statement of financial aVitieS Balance sheet Notes lo the finanaa statements 10-20
THE PIED PIPER TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees we5enl their report arKI finanaal ststements for the year ended 31 December 2020. The finanual stat&nents have been Prepa in aM)rdan %Mlh the a¢¢awnting Fdicies set oul in note 1 10 the financial statements and comply wtth the Chanvs govemin9 docxJmenL the Charrties Act 2011 and -Accounting and Reporting by Chanbes". Statement of Recommended Prac. applica¢ to ¢harTties preparing their accounts in aCcOrd8n Ihe F1TwMj Rem'ng Standard a1rble in the UK and Republic of Ireland IFRS 1021 leffethve 1 January 2019}-. Objectives and activities The piime objective of the Tst is lo-. make a drfferènce to the lives of sick and disabled chFklr8n Gk)ucestershire'. to provide ewipmerrt and seNS that are red lo ast in the maintenance of the highest possible slarldards of health care children" and to provide holidays to children with It[threatening arKI terfftinal illnesses. Statement on Publlc Benefit The Trustees a aware of the Public Benefft provisions of the CharthesAct 2011 and of the guidance on them published by the Chaftty Commission. They are satisfied that the objeds of the Charity and the acb"vibes of the Charrty are wthin the definthons of Charitable Purposes as set d(Y•vn in the Act. The Truste85 are rsot of any public detriment Sed by the Chanty's objsts ot acbvitses, and r¥)r are they aware of anyone rec8iving 8ny prtvate berfrt from the ChaTTVs activth"es. The Trustees have due regard to gthd8n Iss by the Chartty commion in deriding vthal acttw.ties the Charity shoukl un(lertrake. Achlevements and performance As we are all very aware 2020 wa5 an awfijl lor the noMY, for busnes5es and for i[l¥1dals alike. due to Covi¢19 global pandemic. This presented Board of trustees (the Board) vrith finanaal challege5 havin9 to carefully balance the Income and expendrture a5 well a5 ensuring that SL¢fficienl fttnds weT¢ maintained for the day to day running olthè tharity. The Board has asways been determined to run the charity on a very tight budget aH¢ming for a great pentage of income received to be then spent on tts th3tttable objectives.. giving to the sith arvj d¥Sated children of GloucesEershiTe. This strategy has served the charity very well this year. Income from rts key anrJal fund tai5ing event5 has suffered signifi(zntty in the year as atl of thes8 flagship evenls had to be cancdled beeause of Government Guidelines. However, because of the sheer delerminaiion of the Promotion Boaid nest1 within the charity. additional new funds have bè raised during the year totalling over £30.OIY). These Ire a5 a resutt of an online auction, Cocktsil MasterGla55es. Live Sax and Music quiz nights on a pay as yw 90 INe social medba stream. Tr Board thank all ol those involved. Another opportunity vrds ewored in the year and that was via a do. alcA110n to The Julia and Hans Rausing Trust for a 'Charity Survival Grant,. As you can imagine. there were many applications weived and whilst the Board submthed a solid applieation to r@1v@ fvnding. WÈ wÈrÈ rt SUC$$fUl in our bid. As mentioned above. the day to day activities of the charity are covered many times by OUT reserve levels, but in failing to acquire this addtlional funding on offer did mean we needed to trim back the level of'bids and grant giving, were accustomed to. to preserve the ftrture reserves ol the charity as we entered in to 2021. Operatin9 a very successfvl tharity shop during the pandemic has seen the Board lake advantage of the many support paGkage5 offered by the govemmenl and this saving is fleCted in our redu(Ed overheads this year. Another fantastic inrtiatsve in the was the 'on4ine chan.ty shop, where the donated goods were advgthsgd on soGial mgdia ath)M5 and sold thal way. This agwn gavg us a gady income for our shop as well as maintained our presence on Sla1 Frlia. The shop ct>rrtinuèg to do ÈxtrÈmÈly 11 wth fijrther growth tne55ed during Ihe tirrs it was allowed to open 2020.
THE PIED PIPER TRUST TRUSTEES. REPORT (CONTINUED) R?R THE YEAR ENDED 31 DECEMBER 2020 The Board had to be very sdeth.ve in 2020 about 'major projects, we did support. This was ever more dÉfficult with the NHS being stretthed fvrther th ever themsdv85 With Covi(k19 patietlts admittad to )Spita. Our remtt of course is to support the ck arKI disalled children GkCesterShie whether that be supporbng The Children'5 Centre al Glou¢esler Royal Infirmary or at SEN 5GhTJA5 in fhe Gounty or by supporting individual families frjr'wsh Holiday5'. These Trnged from.. the purchase of various spea"alist equtpment fty Ihe Gkwcets Children's Centre in Gloucester Royal Hosprtal," . the funding of numerou5 knh )h"days. desening faMilS - hokl due to tfavel restriction5; . the conts.nued donats.ons to support mental health and wellbeing and to rase the awareness of suth". the purchase of toys and general sensory equipment.. IhE installation of play equipment at speodist s(ooLs in the County to enhance disatAed thiklren's leaming experien.. . raising the F018 of the Charity. Having worked extremety hard in 2020 and of course the earty part of 2021 the is now evemiore desire and passion to bring the income levels close lo Whe we were In 2019 over the short to medium temi. This will allow us to fund the ongoing commitments of the thaTty and conts.nue support major projects into 2022. TfLiS Vdill be a kèy pÈrfotrnan indicator for those involVj l(M)king ford in lo 2022, using 2021 as a period of (nSolEd3.on as we hope to safely extt Ihe govemments cov.td feSth"th"05. Key Fund Raising Activitles To put th5s into some financial cont8Xt 50 W8 (3n UTM18r5tand why our Éncome is down so mudi from JJ19. the cancell'on of our key ftJnth3wo event has result1 in income b"ThJ doym in this 2rea by £195.000.' Chellenham Crickel Festival Gloucestershire Motor Show Pied PiperAnnual co Day Other corporate go days Annual Pied Piper Ball - Cancelled - Canled - Cancelled Cancelled From Quarter 1 in 2020 it was apparwt the Board WKI the PromtJts.0r Board had to 'think cthtde thè bo to maintain th? charity's profile as well as hopefully continue to lse some funds through the pefiod5 of lockdown. The Promolional Board certairty came irrto Iheir ovm. Through soaal ffledia plath)rms and Zoom they organised and ran a series of hty SucsSfi14 events though 2D20 which as well as ftlndraising. also brought tt)géthér many people on the Live Saxophone Mwc qurLzes and M3Sterdass cockta nights. They did fantaskn"c and again a huge thank ycw lo everyo who conth"buied to these events. Additionally, a Strategic document has been apwoved by the Board Ihal defines clear targets and d)ieGlives for the chaty moving forward in to 2021 ar beyond. In line Sectk)n 13 of the CharrtiesAci, the charty has rJ)nsidered rts IraIng 3pproach. There afe no third paty fundraisers used the chanty has nol red any Comp.nts regarth'ng its fvndt8ising aclivibes throughout Ihe year.
THE PIED PIPER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Patrons and Wieè Patrons Special recognrtion should also be given for the sjjpport of our Patri)ns ar Vice patro who gerrOUS1Y devoté their time to the promotion of the chafrty in various ways. For full details of our Patrons and Vice Patrons please visrt our websAte h .co.ukl Al the time of wribng our Report. ri is with the deepest s•Jness that we report of the SLtrdden death of one of our Vice Patrons. Mr Rob Freeman. Rob had supported the charity for many years, serving as the Chair ot TTuslees for some of this b"me. A charismab'c figurehea ar very sJJccessfvl tKrsinessman and loving famty man, Rob wll be hyty missed ty everyone that knew him. Trustees We are proud lo report in 2020 thal our Chair. Mrs Julie K8nl was. tn the Quaens Honours List awardèd an MBE foT servi$ to charity. The Board orKE again extsnd their Congratulats.S lo Julie for thts hontsur and thank her for her passionate contribLrtL"on to Ihe charity. Stsff and Volunteets As wtth Gharilies ot similar size lo ours. we rety heawly on ow large gr¢w of vdunleeT5 who hwe a diverse range of 5killsèts that Ihey bn.ng lo the ch8rity. Wthout th"r ongoing commtrnent to the chanty we wuld not make the differen that we do to the sick and disabled thiklren En our County. 11 has been mentioned atx)ve. that Fn addth"LYL to the Board of Trustees Ihere ts a 'sub-board' that sils beneath it. Thi5 Is our 'Promotional Board,. Thts rAxnpnses of a few Trust Boatd rn8mbe srtbng amorost a highty enthusiastic mix of PpIe, bn"mming fijndraising ideas, dIes9 busines5 contacts in their ptFoliO and an unprecedented amount of energy to conjure up i¢Jeas and tum Ihese thought wovoknng meetings lo cash donations for the charity. •Mn a vacancy CMe$ on tull Board. it is highty probabte tw will be retnsiled from the Promo Boatd.
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Flnanclal revlew The Board of Trustees are pleased wrth the oveTrH pthwnan of the Chanty dunng lasi 12 months arml the state of affairs as at 31 Decefftber 2020. We take th"s ¢)PrtUnty to tfAnk a number of ular otlhe Chanty, both indiviYuals and corporate sponsors Wit1Ul whom their tttrnued support w)uld render the Chanty in a f less favourab19 position. During the year the Trust had a totsl in(J)me of £32.642 {2019- £482,253) and had commrtted dortattons of £158,651 {2019 - £201,0881.The fun(ts are held in interest beafing ujrrenl accounts and in fixed interest deposit accounts. The Trustees regLFlaty rewew the dY in which lunds are invested to ensure competitive relums a ean. without compromistro the availalylity of cash trj meet fijiure needs. The current levd of lolal fiJnds i8 £230,530 P019- £229.309}. The Tnjslees are ca)mmitted to maintaining a level of texrves so trtat Ihe Chanty maintain aid meet its operational commitments in the short tèrn. The ujrrent level of undesignaled free reserves is F226,20512019 - £212,380) which: in the otxnion of the Trustees. is adequate for short term purposes. bet'ng mindful, of course, of the commrtments rt make5 to donot5 and (Xpital proj.ects which it raises fnoney fot. The Trustees have given considerth to the t))niinwl adivities aThJ lrfe of the Charity arKI e awRie this is dependent on the level of ndS held. The Chanty is ujffentty fvndraig to makè further donations to hèlp to provide fvrther Pied Piper Holidays and lo SUprt fdrious children's aieas within the Gloutestershirè NHS Tiusl, al spec¢alis15choo15 and other srte5 that would benefft sick chIldn in Gloucestershire. A cOnrted effort is always made lo wjdress nee(1 lo athl to these funds on an annual basis going fovward. The Trustees has assessed the major risks to whKth the Charity is exposwj, and are satisfied that systems are in place lo mitgate exposure to the Major risks. Risk Management is Gonsidered by the Trustees regularfy as, wth any tharty, th8 Trustees are exposed to legal requirements which they afe uth"m3tety liaEAe. The 2018 fv11 rev*w of systems arKI controls wthin charity is still being followed to ensure all income is record&J arml allocated to the corTect fvnd. conlrols remain robust so as to safeguard the assets of the chanty and polic4es aTe in pla. Thi5 remains a It¥e arKI Iliid document and is visited re9ulady to ensure rt iemains fit purpose. This will be visited awn in 221. Golng concern and Coronavlrus ICovld-191 As mentsoned before the charty has a strong levet of resee8 as a result of extremely strong governance histori(3lly and therefrKe remains a going (rn. The effect of Co¥id has of c¢yJrse impaded on the charity as it has meant that it has not been able to raise ttte level of fvnds it normally does to pay money to vrthWhIle charrtable (2uses. The chanty can crf couise, for thé reason of lower income levèls. nol chose to give grants to aPtca0nS if the caslfflow 15 fKJt ujrrenty in the charty. ForbjrteIy. due to Ihe govemance of the tK)ard. most furKling applications have been gjccesslul ilst sb"Il retaining an appropriate levd of reserve5 to ensu the dwi.ty remains a going ¢oncem.
THE PIED PIPER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Strycturè. governance and management The Tw5t was established on 1 Juty 1991 and Nyas formalty set up in a dedaration of tNst on 13 W 1992 as mended ITr Novefflber 2008, January 2010 arKI December 2012. The Trust was registered by the Charity Comnwssion as a Charilable Organisati"on. number 1011611. on 4 JurE 1992. The Twstes wh) swved thjring the year an(1 LKS to the de of signature of the finanaal Statnents W8.. Mr N Broady Mr R Head DL, 08E Mr N P Hicknian MBE Mr J Lewis Dr M Owen Mrs J Kent MBE Ms S Hall-Gibbins Mr R Wilkey Mr R 8yrd Ms C Hage MrTFry Dr C Thompson Mr S Wlmer MrKDay (Rgl 31 December 2020} {Rened 14 July 220) IAFvointed 14 Juty 2020) (Apw'nted 14 July 20201 ointmeTrt Induction and Train Potenti81 new Trustee5 are discussed at the next availa meetir¥J of Tnjstees ar their CTedentials and business acumon rxjnwdered to erwre that au TEUStees are acttV8 wthin the Chanty. Trustees may be appointed by a Fesolution of the Truste&s reGorded in the minutes of the Trustees. meeting. DeGision making is via the maiorty decision at Trttee Meelings for (4Xtal bS and larger dcab"Cs. Kthere there is 3 request for Holiday Wshes then core irrfcKrnknn is distritKrted via email so that quid( and timely decisior¥s can be tnade. The Trustees, on avera9e meet 4 times a yeaF. Three Trustee5 fomi a quorum. An new Trust are encouraged lo take a guided tour of Ihe Chiklren'5 tsrd and GlCrtJ(Ier Royal Hospital lo see how we engage and inlefact with rd and to get a better understanding of how we help out in just this 0 area. Throughout the year. as 'bids' come Ira to us from spec1 needs schools for example, they are also invited to visrt them to hdp assess the relevance of such bids for t)nats"ons. The Ttees. repo Mr R Head DL, OBE Chair ol Trust8@s Dateo.. 10 August 2021
THE PIED PIPER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PIED PIPER TRUST I report to the Trustees on my eXaminab. of Ihe financial statements of The Pied PiFer Trust (the Charity) for the year ended 31 Decembèr 2020. Rèsponsibilittes and basls of Teport As the TrLtstee5 of the Charity YOU responsible for the preparali¢)n of the financial statements in ac£ordancÈ the requirements of the CFrariti"esAct 2011 Ilhe 2011 Acti. I rew in respe(a of my examinalion of the Chanvs finanual stalwnents tsrried out under seth.on 145 of the 2011 Act. In carrying out my examinatson I have fdlcAved all the appEicAble Directions given by th8 Charity Cornfflisst Imder seclton 145(51{bl of the 2011 kL Independent oxaminerfs statement Since ihe Charity's gross inwme exceeded £250.000 your exami must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualthed to UrKItake the examinat.on becAuse l am a member of ICAEW. vhiich is one of the listal tKlies. I have comp1 my exam[rtiOn. I Ix)nfitm that matters have rnme to my attents.on in 1Xne10n vAth the examination giving rne cause to believè that in any rHaterial respect. accounting records We not kepl in of the Chaiity a5 required by 5eolion 130 of the 2011 Act.. or the financial statements do TK)t ar Trmth th9 r5". or the financial statements do not comply the applscatle reqremerts coern9 tha fom and conlenl of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requ1Ment that the 8e()unts wve a true ar f"r wew vthich ts not a matter considered as part of an independent examination. I have no COnmS and have ccwe a(xoss no (ts maiters in connection wth the examinatton to wh att&nlion should be drawn in this rerth in Order to enabje a proper undefstandiro of the financial statements to be reached. Sarah Case FCA DChA Azels Audit Services Pillar House 113-115 Bath Road Cheltenham Gloucestetsh5rè GL53 7LS United lQngdoffl Dated.. 23 August 2021
THE PIED PIPER TRUST STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020 CurTènt financlal y•ar Ttstal Total funds 2020 nds 2020 2020 2019 Oonations and legacies Other trading a¢tivrtle$ Investmants 113.046 188.594 393 113,855 188.594 393 84,443 397.483 327 Total incomo 302.033 302,842 482,253 Raising funds 138.043 138.043 220.092 Charitable adivitios 145.270 18.308 163,578 203.608 Total ruouTus •xpended 283.313 18.308 301.621 423.700 Not In¢omlnty{oulyolngi rnsources b•for• transfers 18,720 117,499) 1,221 58,553 Gr086 Iransfars batyrnen fvnds (4.8951 4.895 N8t incomoll•xpenditurnl for tho yoarl Not mov•m•nt in fund$ 13.82S 112,604) S8,S53 Fund balanc8s al 1 January 2020 212,380 16,929 229,309 170,756 Fund baknces at 31 December 2020 226.205 4,325 230.530 229,309 The statement of finan¢ial indudes am gaÉns arKI Ioss05 rgcrwi88d in tho yoar. All irxome and expenditure derive from conbnuiro actrvTrbes.
THE PIED PIPER TRUST STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020 Prior financial year Total funds 2019 fvnds 2019 2019 InGome from: Dor>alions and legacies Other trading a(aivtties Investments 79,598 397,483 327 4.845 84,443 397,483 327 Total income 4TT,408 4,845 482,253 Raising funds 220,092 220,092 Charitable activities 156,306 47.302 203.608 Total r05 exponded 376.398 47.302 423,700 Net Incominglloutgolngl resource5 before transfers 101.01 D (42.457) 58,553 Net incomellexpenditure} for the yeaTI Not movement in lunds 101,010 142,457} 58,553 Funrf balanS at 1 January 2019 111,370 59,386 170,756 Ftsnd balances at 31 December 2019 212,380 16.W29 229,309 The statem8nt offinanaal a(trikne5 indudes all g"rts &KJ t8(XwisA in yeai. All income and expènthtUTO deriv8 from c4Jntmuing J1vib.
THE PIED PIPER TRUST BALANCE SHEET AS AT31 DECEMBER 2020 2020 2019 CurTent assets Debtors Cash at bank and in harml 12 2,250 385,299 1,575 335.351 387,549 336.926 Credltors: amounts falling due within one year 13 1157.019) 1107.6171 Net cuent assets 230,530 229,309 Income funds Restricted funds Unrestri¢ted fvnds 16 4.325 226.205 16,929 212,380 230.530 229,309 The ftnancial statements were apwoved by the Trustees IOAugust 2021 Mr N Broady Trustee Mr R Head DL. OBE Trustee
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting pollcles Charlty Infonnatlon The Pied Piper Trust Is an unincorporated thanty arKI is registered the Ghanty Gommission under numbw 1011811. 1.1 Accountlng conventlon The financial statements have bn prepared in accordance wilh Charity'5 gov8ming document, the Chanlies Act 2011 and -AcccyJrthng aTMI Rerxl'ThJ by Chanb"es' Staternent of Recommended Practice applicAble to charities prepan'ng their a¢ts)unls in accordarte vth the Financial Reporting Standard 8pplicabJe in thg UK and Republic of Ireland {FRS 1021 (effecxive 1 January 20191-. The Charity is a Public Ben•fft Entity as defined by FRS 102. The Charity has taken advanlage of the provisicms in tha SORP charthes r1 to proparo a Statemefrt of Cash FI. The financial statements have departed from the Charilies IAc(xJunls and R&w)rtsl RegulaliL)ns 2008 only lo the extent required to provide a true and lair view. This departure has involved follown9 the Statement of RocommerKl¢d Practice for charfties applying FRS 102 ralhgr than Ihe version of the Stalement ot Recommended PraCte Is referred to in the Regulab'orffj ljut thich Iws Sin been wmtwjravm. The financial stst8mènt5 are pf8pared in starting. is thè functitin¥l of the Ch¥lty. Monetary amounts in these finanaal $t8lemgnts are r¢KIed lo the rwrest £. The finanaal statements have been prepared WKl8r th8 histCal cost cOnV'0n. The pnnopal accountsng poliues adopted are Set out below. 1.2 Going concom Al the time of approwng the financi81 st81ements, the TnJ8tees have a reastY18ble expe¢t81ion that th6 Charity has adequate iesource5 to continue in operational QstenCe for the fOreable fulurg. Thus the Trust continue to adopt the going concem b#sis of aeeountiThJ in pr8p8ring thè finanoal statemènts. 1.3 Charltsble funds Unrestnct8d funds are available for at the th"scrÈts"on of the Trust•es in fvrthernnce of thelr tharil8blo objectives. Restricted fvrKls are sutyect lo speofic conditi.ons by donots as to how they may be used. The purposes and uses ol the reslricled funds 8fO set out in the notes to the finanual statements. 1A Incomlng resources Income is recognisett when the Ch8nty is legaHy enbued lo rt 8fter any pwrom)an conditnS have been met. the amounts can be nwsured ro1otAy. arKI it 1$ Probable that irwjme wrfl be r8¢wved. Cash donats.ons are reccJnis&J on 1p1. Other dOnonS a reccpjnised once the Chanty has been notified of the donation, unless perfryrnan condth.ons require d¢ferra of the amount. Incorne tax rewverae in relation 10 ¢Jonatsons r1ve under Grft A"d ¢y deeds of cov9nanl is recognised at the time ofthe thanat1. Legaaes are recognised on reIpt or ¢)th¢ThSe rf the CW has been nottfiod of an impending distn"bution. the amtsjnt És kn(, a)d receirt 16 expecaed. Ifthe amount is It known. legacy is treat as a contingent asset. -10-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS {COriNuED) FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng policies {ContiTruedl A&8ets for th"sth'bubon we recogr¥s&J onty wtrEn th"sth"buted. A&gets given use by the Challty are recogni5ed when revable. Slocks of tJndistn"buted donated goods are not valued for arKe sheet purposes. Income from ¢Mnated fautrtEs and sery1 Is recognised at the value to the tharity in the period in whjch they are donated. Shop income is recogrnsed at the fair value of the cwsideralion OT rVablE fDr g(XMJs provided in the rmial course of business. whe the cfiartty hokts joint frJrKlraising events wlh oth8r (MÉties then thy Th& Piad Piper T¥S share of irtcome, @ynses. assets arKI abile5 are irbjuded. Interest is accounted for in the peri¢3d in vA)id) the Crity is enliU&Y to rt 1.5 ReSoue$ expended abilities 3re recDgniswJ as exp9nditure as s(x)n as there i% a logal or nstiC¥e obiigatron commrtb.ng the charity to thal e[KIrtre. rt is probable that a transfer of @conomic benefrts will bè required in setllement and the amount of the obligation can be measured relr8bEy. Expenditu accounted for on an accruals basis and has LEen das%fied uTrJer headirffJs that aggregate all Costs (including irrecoverable VATJ rèlated to the category. Where costs cannot be directty attribLrted to particular headirus have been aHcKaled lo attivrtie5 on a basis consistent the Ltse of resourc£s. Committed TrdIng is tecognis&J in knll in the year in they are approved futUTe payments being included as Iiabiliti"es. Grants offered subJ"8Ct to COrKI.0nS vthich have not beefi fflet at the year end dale are noted as a wmmttmenl but not accrued a5 expenditur 1.6 Tanglble fixed asstr15 Tangible fixed assets are inrt¢alW measur1 at cx)st arvj Subseq measured at Cogt or valuation. net of depreciab.on arHJ any impaimietrt los%es. Depreciation is recogllised so as to off the cA)5t or valuaknn of assets less their residual values over usefvl lives on the fdl(Ming bases." Improvements to proFErty Cofflputer eqwpment 25% stwaNJht line 33% straitht 'ne The gain or loss arising on the dw)sal of an asset is determined a8 the drference been the le proceeds and the carrwng Val of the assrt recognise(l in net IroMe/{experKIiture) for the year. 1.7 Cash and eash equivalents Cash and cash equivdents indude cash in hand. dePlS held at call Imth banks, other short-tem? liquid investrnents wth original Mthnt of three moTths or 19&5, and bank overdrafts. Bank overdrats are 5hDwn within borrowings in oJrrent liabilities. 1.8 Financial instrufflents Finanaal instruments are recognised in the Charity& balan the Chtty be¢ome5 rtY to the ¢ontiaGtual provisions of the instrument FiTranoal assets and liats'lities are offset, the net amounts presenled in financial st8tements, when thère Is a legaly enforwble right to set off the recognised amounts and there is an intention lo settle a net basis or lo 11¢ the asset arKI seltle IJR lilIttY simultaneously.
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pollcles (Gontlnued) Baslc flnanclal assets Basic financial assets. Ithich include debtors and ¢35h and bank balances, are initsally measured at transaction pricA induding transacb"M costs arKI are subsequently (zrripd at amorb.sed cost u%ng tha effective interest method unles5 the arrangement constrtutes a financing transathon, vthere the Irarsaction is measured at th& prasent value of lh8 Jture recelpis discounted at a market rdle of InteresL Financbal assets dassffied as feceivable ?Ihin ¢)ne year are not arnortised. Ba51c flnancial Ilabllillos Basic financial liabilrties. induding ¢ditOrS and bank loans arè initially recA)gnised at transaction price unless the arrangement constitutes a finan(aro transaction. vthere the ¢Jebt instrumenl is measured al the present value of the future payments diThnted al a mathel rale of irrteresl. Financial liakx"lrties dassified as payable wthin one year are rk)t amortseAI. Debt instrum8rts 5ubsequenUy ¢xried 818m0"Sed cosL Ing thè éffecllve interesl rate msthod. Trad8 credit$ are obfigion$ to pay for goods or WVIC thal have bggn acquired in the ordinary course of operions from suppliers. Amounts payab are dassfied as ujrrent liabilibgs rf payment is due wthin one year or less. If not. they are presented as norCurrent liatmlrtS. Tr8<10 creditors aro recognlse(I Initially al transacaion w.ce and subseqW measured at arTh? cosl u8iThJ the effts.¥e Trrrtwest method. 1)8rncognltlon of financlal Ilabilifles Financial I1"1"e8 we deTeGognised ¥&hen the Chwty's CctraCl cAigatw ewre or are di8chargd or cancelled. 1.9 Taxation The chanty is exempt from lax on inD)m and gains tsling vAthin sodion 505 of the Taxes AL 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that Ihe5e are aptAial to the charil8t4e otyects. 1.10 employee beneffts The costs of shcyt-term 8mFloyee beneffl5 are recognisad a5 a liabl and an axperw, thil•ss those costs arg required to be recognised as part of the cost ol stock or fixed a&sets. The Cost of any unus•J holiday ¢ntkUom•nl is rgcogni$8d in the pgrnd in wthich the empbyee's seNices are received. Tèmiination benefrts 8r8 Fecognised ImmelY as expense when the Charity is demonstrably committad to teminale M0Yrnent of an employae or to wovide te1minatn benefits. 1.11 Retiromgnt bon811ts Payments to defined cofttribubon rètirèmut b8nofft Sep@$ ¥8 tharged 2g an @xpons8 as thèy fall du8. 1.12 Government grants Coveinmenl grants are recognised al the fair value of the assel received or recEivable when thwa is feasonable assurance that the grant cxjndibons will be mel and the grants wll be received. Govemment grants relab.ng to tumover 8re recognised as income over lh8 pwicwjs when the related costs are incurred. Grants relthng to an assel are recoqnised In ifKome 5yStemab'cally over Ihe asset's ex usefvl lrfe. If part of suth a grant is deferred rt is InIsed as deferr&l ino)m8 rather than being deducted from the asset's Gafrying amounl.. 12-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Aceountlng policies {Contlnuedl 1.13 Provlslons Provisions are recognised whon the Charity ha5 a legal or construc"ve present obtigats'on a5 a result of a past event. rt Is probable that the Charity TrAiII be required to settle that obligatj'on and 3 reli8ble estime can b8 made ofthe amount of the obl8"0. The amount recognised 85 a provisM)n is the best eslimate of th8 consthration rewred to setue the present obligation at the reporting end dalo. taking into a(£ounl the risks and uncertainties surrounding the obligation. ere the effect of the tsme value of mffty is matsn"al, the amount expecied to be required to settle the Obligation is recognised at pres8nl valu8. IAthen a prowsion is measurad at present value, the unw7nding of the di$Unt is recognised as a finan cost in net IrKomel(expendrture) in the perK>d which it arisès. Donations and 1•gacl•¥ Unr•strtctod Restrlcted funds funds Total 2020 Total 2019 Donations Legac¢as & in memoriam Grants reeètvable Corporate donations Fundraising 13.996 16,305 24.137 20.359 38.249 14,805 16.305 24.137 20.359 38,249 19.524 2.031 24,749 38,139 113.046 809 113.855 84.443 For the ygar •nd•d 310gcember 2019 79,598 4.845 84,443 Grdnts roC91vabl• for corn actlvltS8s COVICk19 Government grant- Tewkesbury BC Coronavirus Job Retention Scheme grant 10.000 14.137 lo,* 14,137 24.137 24.137 Other trndlng acthtttl Unrestrlctod Unreslncted funds funds 2020 2079 Fundraising ev8nls Shop irKome 89,901 98.693 264.959 132.524 other trading activth.es 188,594 397.483 13-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEME5 {coMfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Investments Unrestrlcted UnTestn"cted funds nds 2020 2019 Interest recVae 393 327 Ralslng fund$ 2020 2019 Insuranr Stationery supplies Sundry expendrtu Profgssion81 lees Publicity Support ro3ts 309 1,782 135 2.807 55 6,102 56,619 2.727 20 4.815 41,037 Raising donstions arKI legau8s 48,908 67,SOO Iher Charity shop expendrture Event costs Staff costs Promotional rtems, PR & 8IKsp stc 24,990 21,764 41.301 1.080 23,157 86,892 39,875 2,668 Other trading activitses 89,135 152.592 138,043 220.092 141-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 chartta18 actfvtités Donatlons Donatlons made made 2020 2019 Funding of ath"vikn"as Share of governw costs15ee Th)te 71 1 $8.651 4.927 201,088 2,520 163,578 203,608 Analysis by fund Unrestrithd funds Rthcted fvrnls 145,270 18,308 156,306 47,302 163,578 203,608 Support costs Support Gov•rnanc• costs costs 2020 2019 Ba*ls of allocatlon Staff costs 41,037 41,037 56.619 Adivity basis Accountsncy Independent Examiner 3.067 3,C%87 2.520 Govorn8nco Govemance 1,880 41.037 4,927 45, 59.139 Analysed tsefven Fundraising Chafrtable ath"¥th"es 41.037 41.037 4,927 56.619 2.520 4.927 41,037 4,927 45,964 59.139 Governance costs inclL¥Je amounls payable to the independent examiner of £1,86012079." £1,350) for Irapendent Examination and £3.067 12019." £1.1701 payable to the Indepent Examiner for other accountancy and adw.sory seNices provhtied. 15-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Net rnovement in fvnds 2020 2019 Net movement in fijnds is Stated after chargingllrrediti"ng} Fees payab to the iTKtependent examinèr fr)r the examination of the charity's books anij records OFErating lease charges 3,067 16.000 2,520 17,500 None ofthe Trustees lor any rHsons con[( them) received any remuneration or beneffts frDm the Charty or an institution or oMipany (xjrrtrolled by the ChaTity during the year. Trustees expensès There were no tees, expenses paid for the year WKled 31 DecAmber 2020 {2019- none). 10 Employee Number of employees The average monthly nutnber of emFloyees thring the year vtas" 2020 Numbèr 2019 Number Fundraistng Employment costs 2020 2019 Wages arnj salaries Social secufity costs Other pension costs 76.455 4.641 1.242 91.820 3,172 1.502 82.338 96,494 There were m ernOYees th)se annual remunwalion was £60.000 or more (2019- nono). 16-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 11 Tangib red a55ets to property W4ulprnont Al 1 January 2020 6.787 1.237 8.024 Al 31 DeCeMr 2020 6.787 1.237 8.024 Dapfeclatlon and Impalmwnt Al 1 January 2020 8,787 1.237 8,024 Al 31 December 2020 6.787 1.237 8.024 Carrylng amount At 31 Decèmb6r 2020 At 31 Oecambw 2019 12 DebtOf5 2020 2019 Amounts filllng due wlthln ong yMr. Trade debtors Propayment5 and acuwl income 720 1.530 990 585 2.250 1,575 13 Crndltors: amounts falling due wlthln on• y•ar 2020 2019 Other taxation and Sock security Olher clItOrS Committed funding Accruals and deferred income 1.201 1.677 143,801 10,340 1,465 6,828 g6.963 2,361 157,019 107,617 14 Flnanclal Instruments 2020 2019 Carrying amtsunt ol financial assets Debt instruments measured at am(Klis•J c¢t 386,019 336,341 arrying amount of financlal Ilabilttl¢¥ 155,818 106,152 -17-
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THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 17 Anatysls of net assots betwn funds Unrestrlcte(l Restrlcted Funds Funds 2020 2020 Total Unrestn"ct6Y Rostncted Funds Funds 2019 2019 Total 2020 2019 Fund balances 81 31 DecemEer 2020 are represented by.. Current asselsl Iliabilitses) 226.205 4.325 230.530 212,380 16,929 229.309 226,205 4,325 230.530 212.380 16.929 229,309 18 Flnanelll commlkngntS• guafantees and conllng•nt Ilabllltlfys At the balance sheet date the chaiity had total guarante85, cyknng¢rKies and f))mmitments {otrw than thosg arising undor opwating leases) of £Nil {2019- £Nill 19 Op•rating commltm•nts Al the reportin9 end date the Charty had Outsta1n9 commitsments for fubjre mintmum lease psymènls under non4ancellable operabn9 leases, which fall as foll¢)ws". 2020 2019 Wlkin one year 8ehveen and five years 20,000 2S,000 19,500 45,000 45,000 64,500 20 Rglated party transactions TfNgr• W9TO no disclosatAe related party transactions durirKJ year {2019- none).