Charity r8glstratlon number 1011611 (England and Wales) THE PIED PIPER TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE PIED PIPER TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr N Broady - Chalr of Trustee5 Mr R Head DL, OBE Mrs J Kent OBE Mr R Wlkey Ms C Hage MrTFry MrKDay Dr C Thompson Mr S Wlmer Mr M Gomery Mr J Viney Mr M Everson Mr B Caton- Chairman Mrs S Mills Founder Norman Peter Hickman MBE Patron The Barcness Fritchie of GlouGest&r DBE Vlce Patrons Jill Douglas Charfle Sharples Alex Gidman Henry Trinder Charity number 1011611 Principal addr888 Gloucester Royal Hospital Great Westem Road Gloucester United Kingdom GL12NN Indopendant examlner Griffiths Marshall Busine8sAdvisory Limited 4th Floor Llanthony Warehouse Gloucester Docks Gloucester GL1 2EH Sollcltors Harrison Clark Rickerbys LLP Ellenborough House Wellington Stre8t Cheltenham GL50 1YD
THE PIED PIPER TRUST CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activltles Balan sheet Nol88 to the financial statements 8-17
THE PIED PIPER TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statement8 for the year ended 31 December 2024, The flnancial statemenls have been prepared in accordance with the accounting policies set out in note 1 to the finanrjal statements and comply with the Charity's governing document, the CharitiesAcl 2Q11 and "Accounting and Reporting by Charities.. Statément of Recommended Practice applicable to charities preparing thalr accounts In accordance with the Financial Reporbng Standard applicable in the UK and Republlc of Ireland (FRS 102)" (effective 1 January 2019). Objectlves and actlvltles The tru8le8s have paid due regard to guidance Issued by the Charfty Commission in deciding what 8ctlvities the Charity should undertake. Tha prime objective oftha Trust is to.. Make a difference to the lives of sick and disabled children In Gloucestershire. Provide equipment and seNices that are needed to assist in the maint8nance of the hlghest possib standards of health care for children., Provide holidays to children with life-thr8at8ning and temiinal illnesses., Provide facilities, equipment and support to SEND schools based in GIouc8Stershire, and Support mental health in childr8n and support with the Journey Box Project Statement on Public Beneflt The Trust8&8 are aware of the Public Beneflt provisions of th6 Charities Act 2011 and of the guidance on them publlshed by the Charity ComfflissiDn. They are satisfied that the objects of the Charity and the activities of the Charity are within the definitions of Charitsble Purpos88 as set down in the Act. The Trustees are not aware cf any public detrimant caused by the Charity's objects or activities, and nor are they aware of anyone rec8iving any prfvate benefit frorn the CharFty's activities. Achievements and performanc8 The year ending 31 December 2024 proved to be another very successful year for th8 Charity. Building upon the momentum gained in prior years, the Charty was able to achieve another record year in terms of inccfne, which also resulted in the Charity having 8 record year in temis of donations made. Some of this can be put down to the continued success of the Charity's key tlagship ndraising 8V8nts which inciude the following.. Classic Car and Gardens Show Pied PierAnnual Golf Day Other Corporate Golf days Pied PlperAnnual Ball Pi8d Piper Race Day The charity shops in Brockworth and Hucclecol@ continued to perform strongly, providing the Charity with a great source of stable inGome to supplement the Income generated from our fundraising events. The shops also give the Charity more presence and visibility as well as the opportunity ID integrate and support the local community. 2024 also Included the continuation of 'Emily's Grft,, which is an appeal project raising money under the umbrella of The Pied Piper Trust. The aim of this appeal project is to raise £500,000 to fund a psychologist for the children having cancer treatment on the Emily Kent Unit in the Gloucester Royal Hospital for a period of 10 years. In relation to Emily's Gift,, the Charity r@ceived income of £257,701 during 2024, meaning as at 31st December 2024 the Charity had received lotal incom8 of £472,140, which sits in ringfenced funds. The first donation to Gloucaster Royal Hospltal was made during 2023, with further donations mad6 during 2024. These donations will continue to be made for the remainder of the 10 years.
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 All of the above have contributed to The Pied Piper Trust raising a record level income during 2024 of £878,577 (2023 - £882,084). The remit of the Charity Is to support the sick and dlsabled children in GIouc8Stershire, whether that be supporting The Children's Centre at Gloucester Royal Hospital or SEND Schools across the County or by supporting Individual families via our'wish Holidays, project. This 8upport ranged from.. The purchase of equipment for the Chlldren's Centre in the Gloucester Royal Hospital including spacialist medical equipmanl, play and sensory equipment as w8118s ad-hoc general resourtss Funding staff training for nurses who work In the Children's Centre The funding of numerous'wish Holidays, for deserving familles The Installation of playgrounds, play and sensory equipment at various SEND Schools in the County to enhance the children's learning experlence The funding of numerous transport solutions for SEND Schools in the County The Continued donations to support mental health and wellbeing in our County raising funds & donalng sensory equipment The purchase oftoys and general sensory equipm8nt Funding a psychologist for the Emily Kent Unlt in the Gloucester Royal Hospital Following a very successful 2024 and wth a strong level of both unrestricted and restricted funds as at 31st December 2024, the Charity is more committed than ever to continue its remit of supporting sick and disabled children across Gloucestershlre moving Into 2025 and beyond. In line with StIOn 13 of the Charilies Act, the charity has considered ils fvndraising approach. There are no third paty fundraisers used and the charity has not r8c8ived and complaints regarding its fundraising activities during the year. Patrons and Vice Patrons Special recognition should also be glven for the support of our Patrons and Vice Patrons who generously devote Ih&ir tlme to the promotion of the charity in various ways. For full details of our Patrons and Vice Patrons please visit our website hlts:Ilww.piedpiperappe21,co.uklboard-trustees-teaml. Staff and Volunteers As with charilies of similar size to ours, we rely heavily on our large group of volunteers who have a divers8 range ot skillsets that they bring to the charity. Wthoul their ongoing commitment to the charity we could not make the difference that we do to the Sick and disabled children in our County. In addition to the Board of Trustees there Is a 'sub-board' that sits beneath it. This is our 'Promotional Board,. This comprises of a small number of Trustees sitting amongst a highly enthusiastic mix of people, brimming wilh fundraising idess, endless business contacts in their portfolio and an unprecedented amount of energy to conjure up ideas and turn these thought provoking meetings in to cash donations for thè charity. When a vacanw comes on the full Board, it is hlghly probable they will be recrulled from the Promotional Board. Flnancial review The Board of Trustees are pleased with the performance of the Charity during the last 12 months and the state of affairs as al 31 Dember 2024. We take this opportunity to thank a number of regular supporters of Ihe Charity, both indivlduals and corporate sponsors wtthout whom their continued support would render the Charity in a far less favourable p051tion. During the year the Trust had a total incom8 of £878,577 (2023 - £882,084) ancl had committed donations of £203,990 (2023 - £224,635). The fvnds are held in interest bearing current accounts and in fixed interest deposit accounts. Th8 Trustees regularly review the way in which funds are invested to ensure competitive returns are earned, without compromising the availability of cash to meet future needs.
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Thè current level of total funds Is £683,390 (2023 - £512,183). This increase in total funds Is predominantly down to Ihe Charity raising funds ft)r long-term projects, with the funds being ringfenced and donat8d over a longer time- frame. The Twstees are committed lo maintaining a level of reserves so that th8 Charity can maintain and meet its operational commitments in the short term, a period which the Trustees deem to be six months. The current18vel of undesignaied free reseeS is £281,847 (2023 - £343,441) which, in the opinion of the Trustees, is adequate for short tem purposes, being mindful, of course, of the commStments it makes lo donors and capital projects which It raises money for, The Trustees have given considèration to the continued actlvlties and lif& of the Charity and are aware this is dependent on the level of funds held. The Charity is currently fundralslng to make further donations to h@Ip to provide further Pied Piper Holidays and to support v£rFou5 childr8n's areas within th8 Gloucestershire NHS Trust, at specialist schools and other sites that would benefit sick chlldren in Gloucestershire. A COnrted effort is always made to address the need to add to these funds on an annual basis going forward. The Trusteas have assessed the major risks to which the Charity Is exposed, and ar8 satisfied that systems are in place to mitigate exposure to the major risks. Risk Man8gem8nt is Considered by the Trustees regularly as, Wtth ariy Charity, the Tru8te8ss ar8 8xposed to legal requiremenls whlch they are ultimately liable, Th8 2018 fijll review of systems and conlrcls within the charity is being followed to ensure all income is recorded and allocated to the correct fund, controls remain robust so as to safeguard the ass6ts of th8 charity and policies are in place. This remains a live and fluid document and is vistted regularly to ensure it remains fit for purpose. As previously mentioned, the charity has a strong level of reseNes as s result of strong financial performance in recent years. This Coupled with extremely strong governance historically therefore means the Chairty remains a going concem. It is the policy of the Charity that unrestricted funds which have not been designated for a speclfic use should be maintsined at a minimum level equivalent to six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while conslderation is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Structure, governance and management The Trust was established on 1 July 1991 and was formally set up in a declaration of trust on 13 May 1992 as amended in November 2008, January 2010 and December 2012. The Trust was registered by the Charity Commission as a Charitable Organisation, number 1011611,on 4 June 1992. The trustees who served during the year and up to the da18 of signature ofthe financial statements were.. Mr N Broady- Chair ofTrustees Mr R Head DL, OBE Mrs J Kent OBE Mr R Wilkey Ms C Hage MrTFry MrKDay Dr C Thompson Mr S Wilmer Mr M Gomery Mr J Vlney Mr M Everson Mr B Caton- Chairman Mrs S Mills
THE PIED PIPER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Appolntment, Induction and Tralning Potential naw Trustees are discussed at the next available meeting of Trustees and their crédentials and buslne56 acumen considered to ensure that all Trust&6s are active wlthln the Charity, Trustees may be appointed by a resolution of th8 Trustees recorded in the minutes of the Trustees, meellng. Decision making is via the majority decision at Trustee Meetings for capital bids and larger donations. Whore there is a request for Holiday wishes then cor8 information Is distributed via emall so that quick and tirely decisions can be mad8. The Trustees, on average me8t 4 times a year. Three Trustees fom a quorum, All new Trustees are encouraged to take a guided tour of the Children's Ward and Gloucester Royal Hospital to see how wa engage and interact with the Ward and to get a bettor understanding of how w8 help out in just this one area. Throughout the year, as 'bids' come in to us from special needs schools for &xample, they ar& also Invited lo visit them to help assess the relevance of such bids for danalions. Th8 trustees, report was approved by the Board of Trustees, Mr N Broady- Chair of Trustees Trustee 23 October 2025
THE PIED PIPER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PIED PIPER TRUST I report to th8 trustees on my examinalion of the financial statements of The Pled Piper Trust (the Charity) for the year ended 31 December 2024. Responsiblllt18s and basls of raport As the trustees of the Charity you ar8 r8sponsible for thè preparation of the financial statements in accordance with the requlr8m8nts of the Charities Act 2011, I report in respect of my examination of the Charity's flnancial stalements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5){b) of the Charities Act 2011, Independ6nt axamlner's statement Slnce the Charity's gross income exceedad £250,000, the Independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confimi that l am qualified to und8rtake the examination because I am a member of the In8titut6 of Chartered Accountants in England and Wales, which is one of th@ listed bodies, Your attention is drawn to the fact that the charity has prepared the financial statements in accordance wlth the relevant V8rsion of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommend8d Practice Issued on 1 April 2005 whlch 15 referred to in the extant regulations but has now been wlthdrawn, l understand that this ha5 been done in order for the financial statements to provide a tru8 and fair view in 8ccordanc8 With UK Generally Accepted Accounting Praclice. I have compl8ted my examination. I confirm that no matters have coma to my att8ntion in connection with the examination giving rne cause to believe that in any material respect.. accounting records were not kept in respect of the CharÈty as required by section 130 of Ihe Charities Act 2011. the financial ststements do not acccrd with those records, or the financial statem8nts do not cornply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any r8quirement Ihat th8 financial statements glve a true and fair view, which is not 8 matter considered as part of an independent examination, I have no concerns and have come across no other matters in connection wilh the examlnation to which att&ntion should bè drawn in this report In order lo enable a proper understanding of th8 financial statements to be reached. Stephen Humphries FCA Griffiths Marshall Buslness Advlsory Llmlted 4th Floor Llanlhony Warehouse Gloucester Docks Gloucester GL12EH Dated.. 23 October 2025
THE PIED PIPER TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unr&strlcted Rèstrlctod funds funds Total Unrestrlcted Restrlcted funds funds as restated as restated as restated 2023 2023 2023 Total 2024 2024 2024 Notes Income from: Donations and legacies other trading activities Investments 183,863 426,888 10,125 257,701 441,584 426,888 10,125 169,752 475,003 2,891 214,438 384,190 475,003 2,891 Total income 620,876 257,701 878,577 647,646 214,438 862,084 Expendlture on: Raising funds Charitable activities other expenditure 273,914 408,556 273,914 408,556 24,900 312,649 308,780 312,649 308,780 52,344 13 24,900 52,344 Total expendlture 682,470 24,900 707,370 621,429 52,344 873,773 Net incom81(expenditur8) (61,594) 232,801 171,207 26,217 162,094 188,311 Transfers betsveen funds (6.648) 6,648 Net movement In funds 10 {61,594) 232,801 171,207 19,569 168,742 188,311 Reconciliation of funds: Fund balances at 1 January 2024 343,441 188,742 512,183 323,872 323,872 Fund balances at 31 Dacembar 2024 281,847 401,543 883,390 343,441 168,742 512,183 Th6 Statement of financial activities includés all gains and Ioss8s r@cognised in th& year. All income and expenditure derive from continuing activities.
THE PIED PIPER TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 as restated Not88 Current assets Debtors Cash at bank and in hand 15 15,287 887,355 7,906 740,591 902,642 748,497 Crèditors: amounts falllng due wlthln one year 16 (219,252) {236,3141 Not currant assets 683,390 512,183 The funds of the Chartty Restricted income funds Unrestricled funds 18 19 401,543 281,847 168,742 343,441 683,390 512,183 Th8 financial statements were approved by th8 trustees on 23 October 2025 Mr N Broady - Chair ofTrustees Trustse Mr B Caton- Chaimian Trustee
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charlty Informatlon The Pied Piper Trust is an unincorporated charity and is registered with th6 Charity Commlssion under nurnber 1011611. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Charity's governing document, the Charitl8s Act 2011, FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. l FRS 102°) and the Charities SORP "Accounting and Reporting by Charities,, Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R8public of Ireland {FRS 102)" (8ffective 1 January 2Q19), The Charity is a Public Benefft Entity as defined by FRS 102. The Charity has taken advantage of the provlslons in the SORP for charities not to prepare a Statement of Cash Flows. The financlal statements have departed from the Charltles (Accounts and Reports) R8gulations 2008 only ID the extent required to provide a true and fair vi8w. This departure has Involved following the Statement of Recommended Practi for charlties applying FRS 102 rather than the version of the Statement Df Recommended Practice which is referred to In the Regulations but which has since been withdrawn. The financial statements are prepared in sterllng, which is the functional currency of the Charity. Mon8tsry amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. Th8 principal accounting policies adopted are set out below. 1.2 Prlor perlod restatement A restatement has occurred of the prior year figures in relation to the restricted fund, Emily's Gift, Income of £80,542 and expenditure of £50,000 has been reallocated from unrestrlcted to restrlcted nds. A further £2,344 has been reallocated from restricted funds income to restricted funds expenditure, increasing both the overall income and expenditure ofthe charity. A transfer of £6,648 also occurred in 2023 from unrestricted funds to restricted funds, as a contribution towards th8 Emily's Gift fund on commencement of the campaign. The overall net movement in funds for 2023 and overall closlng funds posltion of the charity has remained the same. 1.3 Golng concern At the time of approving the financial ststemenls, the trustees have a reasonable gxpectation that the Charity has adequale resources lo continue In cperalional existence for the foreseeable future. Thus the trLkStees continue to adopt th8 going concern basis of accounting in preparing the financial statements. 1.4 Charltsble funds Unrestricted funds are available for use at the dlscretion of the trustees in furtherance of thelr charitable objectives. Restricted funds are subject to speclfic conditions by donors or grantors as to how they may be used. Th8 purposes and Ljses of the r8stricted funds are $8t out in th8 notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital mvst be maintained by th8 Charity.
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontlnued) 1.5 Income Income Is recognised when the Charity is legally entitled to il after any perfornian conditions have been met, the amounts can be measured reliably, and it is probable that income will b8 received. Cash donations are recognised on receipt. other donatlDns are recognlsed once the Ch8rity has been notifled of the donation, unless perfomance condltions require deferral of the amount, Incom& tax recov6rable in relation to donations receiv&d under Gift Aid or deeds of covenant is reccgnised at the lime of the donation. Legacies are recognised on receipt or othemise if the Charity has been notified of an impending distribution, the amount is known, and recelpt is expected. If the amount is not known, tha legacy is treated as contingent asset. Shop Income is recognlsed at the fair value of the consideration r8ceiv8d or receivable for goods provided in the normal course of business. Where the Charity holds joint fundraislng events with other charities then only The Pied Piper Trust's share ol income. expenses, assets and liabilities are included. Interest is accounted for in th8 period in which the Charity is entitled to receipt. Assets for distribulion are recognised only when dlslrfbuted. Assets given for u88 by the Charity ar& recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes, Income from donated facilities and services is recognis8d at Ihe value to the charity in th8 P8riocl in which they are donated. 1.6 Expendltur8 ExpenditLEre is recognised oncè there is a legal or constructive obligation lo transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classifieé by activity. The costs of each activity are made up of the total of di costs and shared costs, including support costs involved in undertaking each aGtivily, Direct costs attributable to a single activity are allocated directly to that activity, Shared costs which contribute to more than one activity and support costs which are not attributabl8 to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on th8 basis of time spent, and depreciation charg8s are allocated on the portion of the asset's use. 1.7 Tanglble flxed assets Tangible fixed assets are initially measured at mst and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their r6sidual values over their US8ful Iiv6s on the following bases.. Improvements to property Computer equipment 25Q/o Straight line 330h straight line The gain or loss arising on the disposal of an asset is detemin&d as Ihe difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activiti8S.
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poll¢les Icontlnued) 1,8 Cash and cash 8qulvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid Investments with original maturities of three months or less, and bank overdrafts, Bank overdrafts are shown within borrowings in current Ilabllities. 1,9 Financial Instruments The Charity has elected to apply the provisions of Section 11 'Basic Flnancial Instruments, and Section 12 'Oth8r Financial Instruments Issues, of FRS 102 to all of its financial Instruments. Financial instruments 8re recognised in the Charity's balance sh88t wh6n th8 Charity becomes party to the contractual provisions of the instrumènt. Fin8nclal assets and liabilities are offset, wilh the net amounts presented In the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the Ilablllty simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balanc&s, are initially measured at transaction price including transaction costs and are subsequently carrled at amortised cost using the effective interest method unless the arrangement constitut88 8 financing transaction. wh8re th8 transaction is measured at the pres8nt value of the future receipts discounted at a market rate of interest. Financial ass8ts classified as recelvable within one year ar8 not amortised. B8sic financial liabilities asic financial liabilities, Including creditors and bank loans are initially recognis8d at transaction price unless th8 arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the tUre payments discounted at a mark8t rate of interest. Financial liabilities classlfied as payable within one year are not amortised. Debt instruments are subsequently carried 8t amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are classified as current liabilities if payment is due wilhin on8 year or less. If not, they are pr8S8nted as non-current liabillties. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the eff8ctive interest method Derecognitlon of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations 8xpir8 or are discharged or canc8118d. 1.10 Taxatlon The charity is exempl from tax on income and gains falling within seclion 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are appliad to the charitsble objects. 1.11 Provlslons Provisions are recognised when the Charity has a legal or constructive present obligation as a result of a past event, it is probable that th& Charity will ba required to Settle that obligation and a reliable estimate can be made of the amount ofthe obligation. The amount recognised as a provision is the best 8Stimate of the consideration required to settle the present obligation at th8 reporting end date, taklng into account the risks and uncertainties sumunding obllgation. Where the effect of the tima value of money is material, the amount 8xpeGted to be required to settle the obllgation Is recognised al present value, Iiihen a provision is measured at pr&sent valu8, the unwinding of the discount is recognised as a finance cost in net incomel(expenditure) in the period in which it arises. 10-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontlnuedl 1.12 Employe8 benefits The cost of any unused holiday entitlem8nt is recognised in the period in whlch thè employee's services a recaived. Termination beneflts are recognised immediately as an expense when th8 Charity is demonstryably committed to terminate the employment of an èmployee or to provide teminatlon benefits. 1.13 Retlrement beneflts Payments to defined contrlbution retirement benefit schemes are Charged as an expense as they fall due. 1.14 Government Grants Govemment granls ara r8cognised at the fair value of the asset received or recelvable when Ih8r8 IS reasonable assurance that the grant condilions will be met and the grants will be received. Government grants relating to turnover are recognised as income over the perfods when the related costs 8re Incutred, Grants relating to an asset aré recognised in income systematically over the asset's expect8d useful life. If part of such a grant is d8ferred it is recognised as deferred income rather than being deducted from th8 asset's carrying amount. 1.15 R8sourc8s expended Liabilities are recognised as expenditure as soon as th8re is a legal or constructiv8 obligation committing the charity to that &XP8nditure, it is probable that a transfer of economic benefits wlll be required in settl&m@nt and the amount of the obligation can be measured reliably. Expenditur@ is accounted for on an accruals basis and has been classified under headings that aggregate all costs {including irrecoverable VAT) related to th8 category. Where costs cannot be directly attributed to particular headlngs they have been allocated to activities on a basis nSiStent with the use of resources. Committed funding is recognised in full in the year in which they are approved with future payments being Included as liabilities. Grants off8r8d subject to Gonditions which hav8 not been met at the year end dale are noted as a commitment but not accrued as expenditure. Crltlcal accounting estimates and judgemants In the application of the Charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of ass6ts and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience 2nd other faGtors that are considered to be relevant. Actual results may diff8r from these estimates. The estimate5 and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects TrY that period, or in the period of the revision and futuré périods where the revislon affecls both current and future periods. 11
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THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other tradlng actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Fundraising events Shop income 164,803 262,085 229,514 245,389 oth&r trading activities 426,888 475,003 Income from Investments Unrestrlcted Unrestrl¢ted funds funds 2024 2023 Int8r&st r8c8ivab18 10,125 2,891 Exp8nditur8 on raising funds Unr8stricted Unrestrict8d funds funds 2024 2023 Fundraising and publicity Seeking donations, grants and legacies Membership schemes and social lotteries Staging fundraising events Advertising Support costs 2,169 4,755 4,048 13,494 30,og4 1,767 5,040 8,754 5,341 29,830 54,560 50,732 Trading costs Operating charlty shops Other trading activities staff costs 57,527 38,993 122,834 67,439 85,871 108,607 219,354 261,917 Total costs 273,914 312,649 13-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendltu re on charitable activltie5 Unrestrlcted Unrestricted funds funds as restatad 2023 2024 Dlrect costs Grant funding of activities {see note 8) 408,556 308,780 Analysls by lund Unrestricted funds 408,558 308,780 Grants payabla Unrestrlcted Unrestrlcted funds funds as rèstated 2023 2024 Grants to institutions.. Other 408,556 308,780 Support costs allocated to activitles 2024 2023 Staff costs Governance costs 30,Q94 1,650 29,830 1,500 31,744 31,330 Analy88d b&tween: Fundraising 31,744 31,330 10 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(creditlng)'. Fees payable for the independent examination of the charily's financial statements 1,850 1,500 11 Trustees None of the trustees (or any persons connected with them) reiVed any remuneration or benefits from the Charity during the year. 14-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social securtty costs Other pension costs 140,122 10,382 2,424 127,321 8,955 2,181 152,928 138,437 There were no employees whose annual remuneration was more than £60,000. 13 Other expenditure Restricted funds 2024 Restricted funds 2023 Emilws Gift expenditure 24,900 52,344 14 Taxation The charity is exempt from taxatlon on its activities because all its income is applied for charitable purposes. 15 Debtors 2024 2023 Amounts falllng due wlthln one yaar: Trade debtors Pr8payments and accrued income 9,775 5,512 7,9Q6 15,287 7,906 15-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Credltors: amounts falllng due within one year 2024 2023 other taxation and social security Trade creditors Other creditors Accruals and deferred income 2,478 10,019 203,990 2,767 2,253 7,926 224,635 1,500 219,252 236,314 17 Retlrement benefit schem8S 2024 2023 Defined contribution Schemes Charge to proflt or loss in respect of defined contribution schemes 2,424 2,161 The Charity operales a defined contrfbution pension scheme for all qualifying employees. The assets of the sch8m8 are held separa181y from those of the Charfty in an independently admlnislered fund. 18 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to spe¢ific conditions by donors as to how they may be used. At 1 January 2024 Incoming resources Resources expended Transfers At31 Dec8mber 2024 Emily's Gift 168,742 257,701 (24,900) 401,543 Prevlous year: At 1 January 2023 Incoming resourGes Resources expend8d Transfers At31 December 2023 as restated as restated as rastated as restated Emily's Gift 214,438 (52,344) 6,648 188,742 A restatement has occurred of the prior year figures in relation to the restricted fund, Emily's Gift. Income of £80,542 and expenditure of £50,000 has been reallocated from unrestricted to r8Stricted funds. A further £2,344 has been reallocat8d from restricted funds income to restricted funds expenditure, increasing both the overall income and expenditure of the charity. A transfer of £6,648 also occurred in 2023 from unrestricted fvnds to restricled funds, as 2 contribution lowards the Emily's Gift fund on commencement of the campaign. The overall net movement in funds for 2023 and overall closing funds posilion of the charity has remained the same. 16-
THE PIED PIPER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 19 Unrestrfcted funds The unrestricled funds of the charlty comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These Indude deslgnat6d funds which have been set aslde cut of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng resources Resources expended Transfars At31 December 2024 General funds 343,441 820,87S 1882,470) 281,847 Previous yaar: At 1 January 2023 Incomlng resources Resources 8xpended Transfers At31 Decomber 2023 as restated as restated as r8Stat8d as restated General funds 323,872 647,646 (621,429} (6,648) 343,441 20 Analysis of not assets been funds Unrestricted funds 2024 Restrlctsd funds 2024 Total 2024 At 31 December2024: Current asselsl(liabilities) 281,847 401,543 683,390 281,847 401.543 683,390 Unrestricted funds ag restated 2023 Restrlcted funds as restated 2023 Total 2023 At 31 December 2023. Current assetsl(liabilities) 343,441 168,742 512,183 343,441 188,742 512,183 21 Related party transactlons There were no disclosable related party transactions during the year (2023 - none}. 17-