Charlty raglslratlon numbèr 1011611 THE PIED PIPER TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE PIED PIPER TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustèès Mr N Broady- Chglrman Mr R Head DL, OBE- Chalr of Trustees Mrs J Kenl MB Mr R Wllkey Ms C Hagg MrTFry MrKDay Dr C Thompson Mr S Wilmar Mr M Gomèry Mr J Vln9y Mr M Ev6rson Mr B Calon (Appolnled 9 June 2023) (Appointed 15 Sèpternr 2023} Founder Norman Pél8r Hickman MBE Patron Thg Baronéss Frltoh5e of Glcsucester DBE Vlco Patrons Jlll Douglas Charfio Sharples Alex Gldman Henry Trinder Gharity number 1011611 Prlnclpal address Gloucester Royal Hospltal Great Wgstern Road Gloucesler Unlted Kingdom GL13NN Independent examlner Griffiths Marshall Busin8ss Advlsory Limited Beaumont House 172 Soulhgale Stro81 Gloucasl&r GL12EZ Solicitors Harrlson Clark Rlckerbys LLP Ellenborough House Wellington Strè81 Chellenham GL50 1YD
THE PIED PIPER TRUST CONTENTS Pago Trustè88' report Independ6nl examiner's report Stalemeril of financial aellvllies Balan Sheet Notes lo the tlnanclal statements 8-16
THE PIED PIPER TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The tru51oos present their annual report and financial 51atonigfTts for thg year 6nded 31 December 2023. The financlal sl8lem8nts have been preparéd In ac¢ordanc& wlth the accounting policies set out In noto I lo the finanoial statements and comply wsth the Charfty's govornlng document, thé Charities Act 2011 and A¢counlin9 and R6POrtlng by Charities: Slalèmenl of Recommended Practl¢e applicable to charilles preparing thelr ac¢ounls In accordance with tho Flnanclal Reporting Standard applloable In the UK 8nd Republ1¢ of Ireland (FRS 1021. (effective 1 January 2019). Oble¢tlves and activities Th6 trustee8 have pald due regard lo guldanca Issued by th& Charity Commlsslon In d8ddlng what aotivllies the Charity should undertal<e. Th8 pdme obl8Ctlve of the Trust is IrJ- Mal<e a dlfforancg tr) th8 lives of slck and dlsabled chlldren In GIouegsl&rshlro', To providè aqulpmenl and $8rvices that are n6eded to asslst In Ihe malnlananco of the high6St PO8slb18 standards of h&allh care for chlldren., To provlda holldays to children wlth life.threattrnSng and termlnal Illn8ss68,' and Supporttng mental health In chlldren Bnd support wllh the Journéy Box Project, Statoment on Publ1¢ Benéflt The Trustees ar8 awarg of tho Publ1¢ Bèngfll provlslons of the Charflies Ad 2011 and of the guldancè on tham pub118hed by the Charity CommlsBlon. Thèy ar8 satisfied that th6 objects of the Charlly and th6 activities Df the Charlly aro within the definltlons of Charltsbl& Purp08es as sot down in the Act. The Trustees are not aware of any publlc detiimenl ¢aused by the Charity's obl8cts or acllvliles, and nor are they aw8ra of anyone receiving any private benefit from the Charlty's acuvllles. A¢hlevemonts and perfomiance Wllh 2022 being a rglurn to 'normallty' In t&rms of fundralsing efforts and events for thè Charlty following, the Global Pandemic, 2023 was a year to build upon this momentum which the Charlty was able lo do r88ulling in anolher record yèar in terms of Income. Som8 of this can be put down to tha contlnugd 8Ltccèss of th8 Charity'8 key flagshlp fundralslng evants whlch Inctude thè following., Classic Car and Gardens Show Pied Plèr Annual Golf Day Other Corporale Golf days Pied Plper Annual Ball Pied PSp8r Ra¢e Day Tho charlly shops in Brockworth and Hucc16cole conllnued to perform strongly, provldlng th@ Charity with a great source of stabl8 Income lo supplement the Income gen8rated from our fundralslng events. The shops also glve the Charity more pr8sènce and visibility as well as the opportunity lo Inle9rale and support the local Gornmunity. 2023 a150 mark8d the bgginning of 'Emlly's Glfl,, whlch is an 8ppe41 prolect ra18ing money under the umbrella of Tha Pled Plper Trusl. The aim of Ihls 8pp8al project is to raise £SOO,000 to fiind a psyrhologlsl for the chlldren havlmg canc8r Ireatrnenl on the Emlly Kent Unlt in U)e Gloucester Royal Hospllal for a perfod of 10 years. As 2131$1 Oec6mb8r 2023, the Charity has received £131,552 in rèlation lo Emlly's glft, whloh slls In dngf&nced funds. The first donallon lo GIouGester Royal Hospllal wlll be made durlng 2024 with donallons rA)nlinulng annually for th8 remalnd6r of th8 10 years,
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 All of the above have contributed to The Pied Plper Trust ralsing a re¢ord level Iiicome durlng 2023 of £859,740. The remlt of th6 Charlty Is lo support the 8icK and dlsablod chlldren In Glouoeslershlr$, whether that b¢ supporting The Children's Centr8 al Gloucester Royal HDspi181 or SEND Schools across the County or by supportlng Indlvldual familles via our 'Wish Holldays, project. Thi8 8UPPOrt ranged from., The purchasé of euulpmenl for the Children's Centr8 In the Gloucester Roy81 Hospiial includlng spe¢iallsl medl¢al gquipm8nt, play and s&nsory gquipment as well as ad-hoc general resour¢e8 Fundlng gtaff. training for nursos who work in the Children's Centr& The fundlng of num&rous 'Wish Holidays, for desorving families The Installation af playgrounds, play and sansory equipment al varlolls SEND Schools in the County lo enhance the chlldren's18arnln9 exp8rlenco Thè fundlng ot numerous transport solutions for SEND Schools In the County Th@ conllnu8d donatlons lo support ment81 haallh and wellb@ing in our County ralslng funds & donatlng sensory @qulpm&nl The purchase of toys and general sénsory equlpmonl FLindlng a psychologl81 foi. th8 Emily Kant Unit in the C11oiJcest8r Royal Hospllal Followlng a very succ6ssful 2023 and with a strong lovel of both unrestrirled and restrlcled funds as at 31st December 2023. th6 Charlty Is mor6 committed than ovBr lo conliiiue ils r¢mll of supporung sl¢k and dl8abled chlldron across Gloucestershire moving into 2024 and beyond. In line with Section 13 of the Charities Aol, tho chartw has considered Its fundraising approach, Thgre are no Ihlrd party fundraisor5 used anrj the Charity has not r8celv8d and cornplaints regarding its furtdrai8ing odivilles durfng the v&ar. Patrons and Vice Patrons Speclal rg¢0gnition should also b8 glvon for the supporl of our PFJtrons and Vice Patrons who generously devDle Ihelr lime to the promotion of the Gharily in V¢irious w&ys. For full d8lall$ of our Patrons and VIG6 Palroni? please visit our webslte htls-1lwww.pledplperappeal.co.uklboard-trustees-leaml. Stsff and Voluntèers As with charldes of slmilar sizrl lo ours, we rely h8avily on our large group of volunlaers who have a dlv&rse ranga of skillsels that they bring to tho ¢hartiy. Wllhout their ongoing commilmenl to thè eharlty we Could nol make the difference that we do to the sick and dlsabled chlldren In our County. In addition lo Ihg Board of I'ruslees there Is a 'sub-board' that slis beneath it. This is our 'Promolional Board,. This comprises of a small nun)ber of Trustees sltling amongst a hlghly enlhusiaslic mix of people, brimmini7 wllh fundraising ideas, endless business contacts in thelr portfolio and an unpr8¢6denlèd amount of energy lo conjure up Idoas and lum these thought provoking meeungs In lo Gash donallons for the charity, When a vacancy Gomes on Ihe lull eoard, IL 18 hlghly probable they will be recrulled from the Promotlonal Board. Flnancial rgvlew The Board of Trustees are pleased with the performance of th& Charity during the last 12 monlhs and tha slate of affairs as al 31 December 2023. We take this opportunlty lo tlianl< a number of regular supporters of the Charity, btslh Indlvlduals and corporat& sponsors without whotn their continued support would r6nder the Ch8rlly in a far less favourable posllion, Dvring tho year the frust had a total income of £859,740 12022 £628,361 l and had commitlgd doiialions of £224,63512022 £213,561>, Tho funds are held in Inlgresl bearing current accounts and in fixed inl8resl deposit acGounts. Th& Trustees regularly review the way in which funds are inv8sled lo ensure CompeL1Ve r8lurns are earned, without ctsmpromising the availability of cash to meet future needs.
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The current level of lolal funds 15 £512,183 (2022 £323,872). This Increase in total funds is predominantly down lo thè Charity ralsln9 funds for long-term prolecls, wilh the funds being ringf8noed and donated over a longer time. fram8. The Tru5lees are commilted to malntalning a level of resotrve8 80 that the Charlty can malnlaln and mèet Ils operational commllmenls In the short lem. The current levèl of undeslgnatsd frtte reserves Is £380,631 {2021 £323,872) whlch. in the oplnlon of the Trustees, is adequate for Short term purpo8e8, belng mindful, of ¢ours8, of tho commitments it make8 lo donors and capltal proleclts which it raises money for, The Trvste6s hav8 glvon conslderalion to tho coiitinued aclivlti68 and lif6 of th8 Charity and are aware thi8 is d&pendBnl on tho level of funds held. Tho Charity is currendy fundraising lo make further donation3 to help lo provid6 further Pied PSper Holidays and lo support various children's areas wilhln the Gloucestershire NHS Trust, at specialist schools and other sltes that would benefit slck ¢hlldr&n In GlouGestershire. A concerted effort is always made to address Ihe n8ed lo add lo Ihese funds on an annual basls oolng loard, The Trusl&es have asso888d the major risl<s lo whlch tho Charlty Is oxposad, and are satisfied that sysl&m8 ar6 In place to mltlgat& oxposuro lo the malor rlsks. Rlsk Managèment Is Consldered by the Trustees regularty a5, wlth any Charity, th9 Trusleess aig eXPOS8d l016gal requlrements whlch they G1re ultimalely Ilable. The 2018 full revlew of systems and controls wllhln the charity Is belng followed to ensure all In¢omg Is recorded and allocatad to the oottscl fund, controls ramaln robust so as to safeguard the assets rjf the charfty and policies are In pla¢8. This remalns a Ilv8 and fluid document and Is vlslled regularly lo ensure11 remains fit for purp¢). As previously mentioned, tho Charity has a 8lrong levgl of re8¢Nes a8 a resutt of strong financlal performan In cent year8. Thi3 coupled with extremely strong governance hlslorlGally Ihereforo means tho Chairty rgmalns going concern. It is tha policy of the Charity that unr8slriol6d funds which have not been deslgnated for a speoific use should be m8intalned ot 8 minimum lev@1 equival&nl to bèeen three and six month's expenditure. The Iruslges consider Ihal roserves al th181ovel will ensure that, in tho 8vent of a significant drop in funding, they will be able to continue the Charity's currant aclivitios while consideration Is given lo ways in whlch additional funds may be raised. This level of r856ryes has been malnlained throughout Ihe year. StNctvre, governance and management The Trust was established on 1 July 1991 and wa$ formalty sel up in a declardllon of trust on 13 May 1992 as amended in November 2008, January 2010 and December 2012. rhe Trust wa5 reglsterad by the Charlly Commission as a Charltsble Organlsation, number 1011611,on 4 June 1992. The twsl8es who servod durlNg the year and up to the dale of slgnalure of the fln8nclal statements were; Mr N 8ro8dy- Chairman Mr R Head DL, OYE- Chalr of Trustees Mrs J Kent MBE Mr R Wilkey Ms C Hage MrTFry MrKDay Dr C Thompson Mr S Wilmer Mr M Gomery MrJ Mney Mr M Evorson Mr8 Calon (Appointed 9 June 2023} {Appoinl8d 15 September 20231
THE PIED PIPER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Appointm9nt, Inductlon and Tralnlng Potential new Trustees are dlscussed at the next available meeting of Trusle6s and their crgd8ntials and business acumen consldared lo ensure that all Trustees are acltve withln the Charfty, Trustees may be appointed by a resolution of the Trustees recordad In th& mlnulos of Ihg Trusta&$' me9tlng. Dpci$ion maklng18 vla the majority decision at Truste6 Mgetliigs for capital blds and largtsr donalloms. Wherè thère is a reque81 for Hollday wlsh8S thon core inform&llon is di81ribuled vla gniall $0 that quick and tlmoly dècislons can be made. The Trustees, on avaragè moèt 4 limes a year. Three Trustees farrn a quorum. All new Trusless are èncouraged lo lake a guided tour of the Childr6n's Ward and GIoue681er Royal Hospital lo soe how we éngage and interaot with the Ward and lo get a beller underslanding of how WÉ help out in lust Ihls on& ar&a, Throughout the year, as 'bids' come In to us from speclal needs s¢hoolo for oxample, thèy arg al80 Invlled to vlslt Ihem lo help assess the relevance of such hlds for donations. The trustees, roport was approv .ty the Board of Twstees. Mr R Head DL, OBE- Chalr of Trustees Trustee Dal8'.
THE PIED PIPER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PIED PIPER TRUST I report lo thè Iruste9s on my 8xamlnatlon of the financi81 ststements of Th& Pled Piper TN81 {Ihp Charity) for th8 y6ar ended 31 Decemb@r 2023. Responslblllt10s and basls of rèport As the trustees of tho Charity you aro responsible for the preparation of the flnanclal 8latoments in 8CGordance wlth the requir8m8nls of the Charities A¢1 2011 {Ihe 2011 Acl). I report in resp&¢t of my examinallon of the Charlly's Ilnanoial statements carrièd out under séction 145 of the 2011 Act. In ¢arrylng out my èxamination I have followed all the appllcabl8 Dlreetions glven by the Charlly Commlsslon under section 145151{bl of th6 2011 Acl, Indèpèndent gxamlner's statement Slnce th6 Charity's gross income excoeded £250,000 your axamlner musl be a memb9r of a body Ilstod In saction 145 of the 2011 Act. I confirm that l am quallfled to undertake th8 examlnalion because l am a membar of the Inslllula of Chartérad Accountants in England and Walès, whl¢h Is ona of thè listed bodiès, Your attention Is drawn to Ihe fact that the charity has prepared financial statements In accordanc8 wth Accounting and Roporling by Charilies preparing their acGounls In accordance with the Financial Reporflng Slandord applicable In Ihe UK 8nd Republic of Ireland (FRS 102) In preferenc8 to the AcGounling 8nd Reporllng by Charlllps: Statement of Rocommend&d Piadi¢e issued on 1 April 2005 which is r8f9@d lo in tha oxtant regulattons but has now been wllhdrawn. l und@r81and that this has been done In order for flnancS&l slalgmenls to provlde a true and falr vi@w in 8ocordancg with Generally Ac¢ept8d Accounting Pra¢tl¢e effective for reporting periods beglnnlng on or aft8r l Janu&ry 2015. I have ¢ompleled my examlnation. I confimi that no mattery have come to my all&nllDn in conneolion with the examination givlng me cause to balleve that in any m81erial respect.. accounting records were not kepl In respect of the Charily as requirod by >e¢lion 130 of Iho 2011 Aol,. or Ihg financial statements do not accord with thosè reoords,, or the financlal statements do not comply with the appllcablé requlremenls concoming Ihe form and oontent of 6ccounls sel out In the Charlllos (Accounts and Report31 Regulatlons 2008 oiher than any requirernenl that tho a¢¢ounls glve a tru8 and fair vlew which is not a matter consldergd as part of an independent examinatlon. I have no concems and hav6 com@ across no other mattors In Connection wllh the examinallon to whlch attention should be drawn In Ihls rèport In order to Onable a proper understanding of th6 flnancièl slalem8nls lo bo reached, stephen Humphrles FCA Griffith5 Marshall Buslness Adv180ry Limited 8eaumonl Hou96 172 Southgaté Street Gloucester GL12EZ Dated..
THE PIED PIPER TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr6Strl¢tod fund8 2023 RestrS¢ted funds 2023 Total Unrèstrlcled funds 2022 2023 Note$ Income from.. Donations and legacies other trading acllvllles Inveslmenls 250,294 475,003 2,891 131,552 381,846 475,003 2,891 240,444 387,912 Total In¢omo 728,188 131,552 859,740 628,361 Expendlturo on: Ralslng fvnds Charltable actlvitles 312,649 358,780 312,649 358,780 247,790 251.099 I'otal PondIture 671,429 671,429 498,889 Net Incomo and movement In funds 56,759 131,552 188,311 12LJ,472 Re¢onclllatlon of funds.. Fund balancats al l January 2023 323,872 323,872 194,400 Fund balancos at 31 De¢8mb8r 2023 380,631 131,452 S12,183 323,872 Th8 statement of financlal adlvltl&s in¢lud8s all galns and Ioss88 recognisad In th6 year. All ineome and expendllure d6dvo from conllnulng actlvltles.
THE PIED PIPER TRUST BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Notè$ Current assets Debtors Cash at bank and In hand 14 7,906 740,591 6,516 539,709 748,497 546,225 Credltors.. amounts falllng duè wlthln onè year 15 (236,314) 1222,3531 Net eurrent ass&ts 512,183 323,872 Nèt assèts 8xcluding p8nslon Ilablllty 512.183 323,872 The fund8 of the Charily R&strl¢ted incorne funds Unroslriclod fijnds 17 131,552 380.631 323,872 512,183 323,872 Th8 financial 8lalemenls were approved by tha trus166S OM Mr N 8roady- Chairman Trustee Mr R Head DL, OBE- Chair ofTru816os Trustae
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng Pf)Ilclog Charlty Inforniatlon The Pled PIp8r TTUSt Is an unlnGorpuraled charlty and 15 reglsleied wilh the Chariiy Commlsslon under number 1011611. 1,1 Accountln9 conventlon Th8 flnancial slalgments hava ba8n prepared in accordance with the Charlty's governlng doGumenl, the Charities AGI 2011, FRS 102 "Th& Flnancial Reporting Standard applicable in the UK and Republ1¢ of Ireland" {"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charitles.. Slalemenl of Recommended Practice Applicable lo charilles preparlng their accounts in accordan wllh Ihe Financial Reportlng Standard applicable in tho UF< and Republlt of Iraland (FRS 102}" leffecttve 1 January 2019}, The Charity is a Publlc Benefit F.nlily as dèflned by FRS 102, Thè Charity has taken advantage of the provlslons In the SORP for ¢harlllg5 not lo prepare a Statement of Cash Flows. The financial statements hava departed from tha Charitlgs (Accounts and Reports) R6gulatlons 2008 only to ihe extent required to provide a true and falr vlew. Thls departurè has Involved following th¢4 Stal6mént of Rocommèndod Prcicllc& for charllies 8ppiylr¥g FRS 102 rath6r than the verslon of th& Slalem8nl of Recommended Practice which is refed to in the Regulallons but whlch has slntte beèn wlihdrawn. The finanGial slal8menls are prepared In sterling, which is the functional currency of the Chadly. Mon&tary amoLinls in these finanGial slalements are rounded lo the noarest £. rhe financial ststÈments have been prepared under the hislorical cost convention, Thè prlncipal accounting policies adopted are sel out below. 1.2 Going concern At the tlme of approving the finan¢lal 81alements, thr8 Iruslees have a rtsasonable &xpectatlon that tha Charity has adequate re&ouroes lo conlinue in operalioiial existence for the foreseeable futura. Thus Ihe Iruslees conllnu8 lo adopt the going con¢em basls of acor>unting Sn preparing the fiManGial stal&m6nts. 1.3 Gharltable funds Unreslricled funds are available for us@ at the dSscr6llon of tho Iruslees in furtherance of Ihelr charilable objectives. Restrlcted funds are subjeot to specific u)nditions by donors or grantors as lo how they MEJY be used. The purposes and uses of th6 reslrf¢t@d funds are sèt out in th8 notes lo the financial statements. Endowment funds arg subject to 8pe¢lfic condltions by donors that thg capital musl bg Mainlalngd by the Charity. 1.4 Incomè Income Is rgoognls@d when the Chartty Is legally &ntill&d lo11 after any performance cundlllons have been mel, the amuunls can be me¢18ured reliably, and it is probable that inorjme will be received, Cash donations are recognised on rgceipl. Other donations are recognlsod onc8 tho Charlly has b66n nollfl&d ol Ihe donation, Linless performance conditions require d6ferral of Ilie amount, Income lax recoverable In relation to donations received under Gift Aid or deeds ol covenant recagnis&d al the time of th6 donation. L&gaciÉs are racognised on rscélpl Dr olheMiS6 If thè Charity has been nolllied of an Impending dlslrfbullon, the amount Is known, and rèeéipi Is expècted. If the amount is nol known, tha lagacy Is Ireatsd as a ¢onlingenl asset,
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢le8 {Contlnugdl Shop Incomg is recognl8ed at the fair value of the conslderation re¢alv8d or r9¢8ivablg for goods provided in the normal course ol business. Where the Charlty holds lolnt fundralsiny evenl8 wilh olhei. charities then only The Piad Pip6r Trust'8 Share of income, expenses, assets and liabilllles ale inoluded, Interest is accounted for in the period In which the Charity is entitled lo receipt. Assals for dislrlbutlon are recognised only when dislribul&d, Assets glven for use by tho Charlty are recognis&d when receivable. Stocks of undislributed donated goods are not valued for balance sh88t purposes. Income from donatod facililles and seNices18 reoognisod at the valug lo the chadly in lh$ perfod ii) which Ihey are donated, 1.5 Expenditur8 Expenditur@ is reoognised once ther& Is a legal or conslNGtive obligauon lo Iran$fer economlc b8n8flt to a Ihlrd party, il 18 probable that a transfer of e¢onomlc bon8flts wlll be requlred In selllement, and th6 amount of th& obligation cxn be measured reliably. Expanditure is cla88ified by a¢tivlty, rhe costs of each actlvlty are madè up of Ihè total of direct cos15 and shared costs, in¢lLidlng support costs Involved In undertal<lng eaoh a¢llvlty. Dirèct costs attrfbutable to a singlo activlty are allocated dire¢lly lo that acttvlty. Shared oosts which conlrlbut6 to more than on8 activily and support costs which are not atlrlbutable to a slngle actlvity are apporuoned betWe8n tho88 actiillties on a basls consSstent with the use of resources. Central staff costs arè allocatéd on the basis of lime spent, and depreciation chargas aré allo¢aled oli the portion of the ass6t's use. 1.6 Tanglble fixod assets Tangible fixed assets are initlally measured al cost and sub8equ&nty m8asured al c08t or valuation, net of daprecialion and any imp&irm6nl losses. Depreciation is recognised so 88 to write off the oosl or valuallon of assets less Ihair r8sidual values over their useful livgs on the following bases.. Improv&menls lo property Computer equlprnenl 2Jf% stralght Ilne 33% straight line Th& galn or loss arising on Ihe disposal ol an asset is determined as the difference betweèn lh6 sale proceeds and the carrylng valu8 of the asset, and 18 rerA)gnis*d in the slalemenl of finanaal aotSvilios. 1.7 Cash and cash equlvalènts Cash and cash equivalents Include ¢osh In hand, d8posils held al call wilh banks, other shorl-term liquid investments wllh orlglnal malurlties of thre8 monlhs or less, and bank overdrafts, Bonk overdrafts ar$ shown wllhin borrowlngs in currènt Ilabllitles.
THE PIED PIPER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢countlng poll¢ie5
Icontlnuedl
1,8 Flnanclal Instrum9nts
The Charlty has elected to apply the provislons of Secllon 1.1 'Basic Flnanclal Inslrumonls, and Sactlon 12
'Other Flnanclal Inslrumen15 Issue3, of FRS 10210 all of Ils flnanalal Instrumsnts.
Flnanclal Instruments arè récognised In the Charity's balance 8h&èl when the Charlly becomes party to the
conlraclual provlslon8 of the Insti'umenl.
Flnanclal assots and liabili11gs 3r8 Dflsel, with the nat amounts presented in Ih8 financlal stat6m6nls, when
there Is a legally enforcoablé right to set off the recognisgd amounts and Iher8 Is an intentiori to S6111e on a nel
basis or lo reallse the assot and s8tt1@ the liabllity simuttanoously,
Bas1¢ flnanclal assots
8aslG financlal assets, whlch include debtors and cash and bank balances, are Initially measured al
transacllon prlce Includlng transacfion Gosls and
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEt)) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 1.11 Employoo beneflts The cost of any unu8ed holiday enlillemenl is recognis8d in the perlod In whlch the 8mploy88's services are rec8ivad, Termlnallon benefits are recognlsed Imrnedlately as an expense when tha Charlty Is damonslrably committed lo tèrrninal6 the employment of an employ8e or lo provlde lermlnallon bénefits. 1.12 R8tlrem6nt beneflts Payments lo defined contribution rellrement beneflc schemes ar8 charged a8 an èxp6nse as they fall due, 1.13 Government Grants Gov8mmenl grants are recognlsed at Ihe fair valu6 of th& asset rèc6ivèd or receivable when Ihere is reasonable assurance that the grant conditlons will b& M&t and the gr8nl$ will be received, Govemmenl granls relating to turnovér ar8 recognls6d as Income ovèr the perlods when the related o)sls aro Incurred, Grants telating lo an assel re racognlsad In Income 8y8lemalically over the asset's expeGted useful life, If part of such a grant is deferrgd11 Is r6cognl88d as deferred Income rather than being deducted from the &88el'8 carrylng amount. 1.14 Resourcos txpended Llabllllles are recognlsed ag exp6ndllur& as soon as thero is a18gal or ¢onslructive obllgation ¢ommitllng the chadty lo that èxpgndilure, It Is probable Iliat a traiisfer of economi¢ benofits will be required In s8t116mant and the amount of the obllgatlon can b@ measurad reliably. Expenditure is 8¢wunted for on an a¢cruals ba818 and has been classified undor h6adlngs that aggr8gale all costs {ineludlng Irrecoverabl8 VAT) ralaled lo the CGilegory. Wh6r6 costs cannot be dlr8c11y atlrlbuted lo particula¥ headlngs th8y have been allocated lo acllvities on a basis conslstgnl with the u86 ol re80urces, Commlttgd fundlng 16 re¢ognlsed in full in tha year In which thoy arè approvgd with futura p8ym&nts belng Includgd gs Ilabillties. Grants olfer8d subject lo conditlons whlch have not beèn met al tho year end dale are noted as a Gommitm6nl bul not accrued as expendllure. crftl¢al accountlng 8Stimatas and Judgements In th6 appllcatlon of the Chaiily's accounting poll¢les. the trusl6&s are requlred to make judgements, estimat&s and assumptions about the Carrying amount of assets and Ilablllll8s thal are not readily apparent from other sources. The 8slimales and asso¢laled assumptlons are based on hislorical experienc8 and other factors that are con81d8rgd lo be rel8vanl, Aotual resulLs may dlffer from thasa eslimatos. The gsllmatos aiid underfying assumpllons are reviewed on an ongoing basis. Revislons to accounting estlmales are reoognised in the period in whlch the esllmate Is revlsed where the revlsion affects only that pariod, t)r iii th6 p6rlod of th8 revlslon and future periods whero Ihfy revlslon affects both current and future perlods.
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacles Unrestrlct8d Restrlcted funds funds Total Unrestrl¢l8d funds 2023 2023 2023 2022 Donallons and glfts Legacias rac6lvable Donated goods and sèNlces other 176,275 7,317 44,245 22,457 176,275 7,317 44,245 154,009 92,540 5,328 41,799 100,777 131,552 250,294 131,552 381,846 240,444 Incom& frDm othèr tradlng actlvltles Unrestrlcted Unrestrlcted fLinds funds 2023 2022 Fundraising events Shop incom8 229,614 245,389 154,581 ?.33.331 Other trading actlvltles 475,003 387,g12 Incomo from Invèstmonts Unrestrlct6d Unrbstrlctèd funds funds 2023 2022 Inlar6sI rac?Ivabl 2.891 12-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendltur• on rolslng f unds Unréstrl¢tod Unre8trlcled funds lunds 2023 2022 Fundralslng and publlclty Seeking donations, grants and legaoiès M8mb8rshlp schemes and social lo116rl8S st8glng fvndraising 8v6nts Advertislng Support costs 1,767 5,040 8,754 4,272 2,750 15,597 4,453 39,115 2g,830 50,732 66,187 Tradlng costs Operating charfly 8hops Olh6r tradlng activiligs Staff ¢osts 67,439 85,871 108,607 70,571 38,373 72,669 261,917 181,603 Total costs 312,649 247,790 Expendlture on charitablè a¢tlvltles Unrestrictod UnrÈstrlcl8d funds funds 2023 2022 Direct Costs Grant funding of actlvllles Isge note 81 358,780 251,099 Analy51$ by fund Unreslrict@d fund5 358,780 251,099 Grants payablo Urtrèstrleted Unrostrlctèd funds fund$ 2023 2022 Grants to instilulions., Other 358,780 251,09 13.
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to aotivltlès 2023 2022 Staff costs Governanc9 costs 29,830 1,500 39,115 3,349 31,330 42,464 Analysed bal88n,, Fundraising .31,330 42,464 10 Nat movement in funds 2023 2022 The nel mov8menl in funds is stated aflor chargingllcditingl'. Fees payable for Ihe independent examination ot the charity's financial slalem8nts 1,500 3,249 11 Trustees None of the trustees (or any persons oonnecled with Ihem) recelved any r9mungralion or beneffts from the Charity durlny the year. 12 Employ09S The averaye monthly number of omployeo$ during the year was.. 2023 Numbor 2022 Number Employment costs 2023 2022 Wayes and salaries Soclal security costs Other pension coyl8 127,321 8,9S5 2,161 107,933 1,736 138,437 111,774 There were no employees whose annual remunerallon wa8 more than £60,000, 13 Taxallon The charity 18 exempl from laxalion on ils aclivllies b&caus@ all Its Income Is applled lor Ghadlable purpo88S. 14
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Dobtor8 2023 2022 Amounts falling due within on8 y8ar.' Prepayment8 and accnjed Income 7,906 6,516 15 Credltors: amount8 falling due within on8 year 2023 2022 0th8r taxation and sodal securlty Trade credllors Other crgditors Accruals and deferred Income 2,253 7,926 224,635 1,500 1,775 5,517 213,561 1,500 286,214 222,353 16 Retirement beneflt 8¢hem9S 2023 2022 Doflned Gontrlbutlon sGhemes Charge lo profll or loss In rosp$ct of defined contribution schemes 2,161 1.736 Tho Charity operatas a deflnéd contribution pgnsion scheme for all quallfying employees. Thé assets of tha $¢h8me ar& hold sèp8r218ly from thos8 of the Charity in an independently admlnlslered fund. 17 Restrictod funds Th8 r8Strlct8d funds of the charity cornprise the unexpgnded balances of donallons and grants h&ld on trust subj6et lo sp8cmc condillons by donors as lo how they may be used. At l January 2023 Ineomlng r•sources At31 D@c6mber 2023 Emlly's Glfl 131,552 131,552 15
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Unrestrfcted funds The unreslricled funds of the charity comprise th8 un6xp&iided balances of donations and grants whlch are nol 8ubjecl to specific conditions by donor$ and grantors as to how they may be used. These include designated lunds which have been SÈI aside out of unreslrloted funds by the tsuslees for speclfic purposes, At 1 January 2023 Incoming resoLir¢e$ Resource5 expended At31 De¢ember 2023 Ggneral funds 323,872 728,188 (671,429) 380,631 Previous yttar,, At 1 January 2022 In¢omlng rèsources Resourcès expended At31 Doceinbgr 2022 General funds 194,400 6211,361 1498,8891 323,872 19 Analysls of net assets between funds Unreslrlcted fund5 2023 Restrlct¢d funds 2023 Total 2023 At 31 Deeember 2023: Current assetsl{IlabllltlÈsl 380,631 131,fJ52 512,183 380,631 131,552 512,183 Unrestrl¢t?d funds 2Q22 Restrlcted funds 2022 Total 2022 At 31 Docember 2022,, Current assetsllliabillllesl 323,872 323,872 323,872 323,872 20 Related party transactlons There were no disclosable relatod party Iransaclioris during th8 ye8r12022 none), 16