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 S￿tIOn 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 De￿mber 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 rese￿eS 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 COn￿rted 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 be￿een 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 T￿rY that
period, or in the period of the revision and futuré périods where the revislon affecls both current and future
periods.
11

¢3)
TY In ¢
* %7J

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) re￿iVed 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 be￿en 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-