2021-09-30-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

ANNUAL REPORT & ACCOUNTS 2020–21

Living Streets (The Pedestrian Association)

Annual Report and Accounts 2020–21

WELCOME FROM THE CHAIR

A WARM WELCOME TO LIVING STREETS! I AM PLEASED TO INTRODUCE THE ANNUAL ACCOUNTS AND TRUSTEES REPORT 2020-21.

We’ve had quite a year: despite the continuing challenges we have faced because of the pandemic, we continue our mission to achieve a better environment for walking and to inspire people to walk more.

One of the very few positive aspects to emerge from the pandemic has been a more widely acknowledged recognition of the enormous benefits of walking – for us all as individuals, for local communities and for society more broadly. Walking benefits our physical and mental health, enhances the safety and attractiveness of our local communities, and by reducing car usage, improves air quality and tackles climate change. While the benefits of walking have been known for some time, clear evidence has emerged from lockdowns on the benefits of reduced car use. Just one example: not only are pedestrian casualties hugely reduced within Low Traffic Neighbourhoods, as you’d expect, but importantly, there’s no increase in the surrounding area.

Walking is something we can all do to make a difference. It is, after all, the most accessible form of transport and the most evenly distributed across age, socio-economic and demographic groups. At Living Streets, we have put equalities, diversity and inclusion at the heart of our 2020-2025 strategy, both in terms of how we work as an organisation and in ensuring we promote inclusion in our streets. For example, thanks to funding from Transport Scotland and the Department for Transport, we are undertaking research on how modern street design can be done in an inclusive way.

Over the year, despite constraints on our funding, we have had a significant impact: thousands of our supporters backed our Highway Code and pavement parking campaigns, we launched new projects across the country to help people walk more and saw a 39% increase in the number of schools joining us for Walk to School Week. These achievements – all to time and to budget – are really impressive.

Our staff have been working incredibly hard to deliver, despite the challenges of home working. An enormous thank you to them all, to my fellow Trustees, and to Stephen Edwards, our Interim Chief Executive, who has already made a huge contribution in his new role. But we have so much more to do…

Lastly, I’d like to pay respects to our former Chair, long-standing member and lifelong campaigner, Alastair Hanton, who died in 2021. We are humbled that Alastair chose to advocate, champion and pioneer our work around creating accessible streets, reducing road danger and car dominance throughout his life. We are working with the Hanton family to ensure his legacy continues and a new generation is inspired to follow in his footsteps.

Dame Jane Roberts Chair of Living Streets

Annual Report and Accounts 2020–21

WELCOME FROM THE INTERIM CEO

The last year has seen continued strides in walking investment and policy, with the Government confirming £2bn for walking and cycling in the November 2021 Spending Review in England, the Scottish Government committing 10% of the transport budget to active travel and the Welsh Government taking forward an ambitious investment programme.

in England – building on the progress we have seen over the last twelve months in Scotland and Wales. The problems caused by pavement clutter were demonstrated to councillors throughout the country with our Cut the Clutter campaign. And we were delighted to make the case for better places for walking at the COP26 climate change conference in Glasgow.

This is recognition of the major contribution walking can make to health and the environment and highlights the vital role walking played during the lockdowns.

Infrastructure changes made during the pandemic enabled more people to enjoy the simple act of walking. But our streets remain unequal in many ways. Clutter and pavement parking continue to make seemingly simple trips dangerous, polluting vehicles poison the environments around our schools and parks, and pedestrians continue to be killed on our roads every year.

We shone a light on these issues this year and are proud with what we have been able to achieve. The Government is moving forward with changes to the Highway Code to put pedestrians first. After many years of pressure from us, the Government has also consulted on a ban on pavement parking

It has continued to be a challenging year in many ways, with lockdowns affecting our work with schools and communities, and limiting our fundraising. Our trading arm, Living Streets Services, and our project teams have responded positively and innovatively – adapting our WOW Travel Tracker for use in the home, delivering school assemblies virtually, rolling out online resources and much, much more.

This report summarises the impact we have been able to have over the year despite the ongoing challenges. The achievements outlined in it would not have been possible without our partners, our fantastic staff team, and our dedicated volunteer local groups, members and supporters. I would like to thank all of them for everything they have done this year to ensure we can achieve a better walking environment and inspire people to walk more.

WHEN WE REFER TO ‘WALKING’ IN THIS REPORT, WE INCLUDE PEOPLE WALKING WITH THE USE OF MOBILITY AIDS, INCLUDING WHEELCHAIRS.

----- Start of picture text -----
Stephen Edwards
Interim CEO
----- End of picture text -----

Annual Report and Accounts 2020–21

Our Impact 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Who We Are . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Speak Up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Step Up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Stay Strong . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Looking Ahead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Financial Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Our Reserves Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Our Investment Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Structure, Governance and Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Statement of responsibilities of the Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Reference and Administrative Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Consolidated Statement of Financial Activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Consolidated Statement of Cashflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Annual Report and Accounts 2020–21

OUR IMPACT 2021

workplaces Over 5,000 taking supporters backed 51 part in our calls to make Walking Works #WalkingNumberOne in the Highway Code 2.6m new walking trips generated by WOW — our walk to school challenge, and car km removed from 400,000 the road in England

----- Start of picture text -----
Over
18,800,000
trips logged on the
WOW Travel Tracker
- up 10% on last year
130
people joining weekly
walks as part of
Walking Friends Wales
----- End of picture text -----

----- Start of picture text -----
Over
27,000
campaign actions
taken by supporters
500
people joined our
virtual National
Walking Summit
Living pupils taking
Streets part in
Local Walk to 2,888
61 Groups 350k School Week members - a 16%
- up from 55 last year and a 39% increase in schools participating increase on last year
events at
3 COP26
Over 21
3,000
pieces of media local projects
coverage - up 20% on across Scotland for
last year older people
----- End of picture text -----

Annual Report and Accounts 2020–21

WHO WE ARE

WE ARE LIVING STREETS, THE UK CHARITY FOR EVERYDAY WALKING

OUR VISION

A nation where walking is the natural choice for local, everyday journeys.

OUR MISSION

Achieve a better walking environment and inspire people to walk more.

TO ACHIEVE THESE OUTCOMES, WE HAVE THREE STRATEGIC OBJECTIVES TO...

WALK WITH US

2020 saw us launch our new five-year strategy, Walk With Us. Our strategy is bold, ambitious and reflects the changed world we find ourselves in. Walking is at its heart and we want to see three key outcomes:

PEOPLE CHOOSE WALKING

Walking is at the top of the travel hierarchy for shorter journeys to improve our health and our environment

BETTER STREETS FOR WALKING

Developing design standards for pedestrians

ALL WALKS OF LIFE

We want walking to be for everyone, striving for equality and inclusion for our streets, in every UK neighbourhood, city and nation.

1 SPEAK UP

2 STEP UP

3 STAY STRONG

Annual Report and Accounts 2020–21

1 SPEAK UP

WE WILL BE MORE VOCAL AND AMBITIOUS ON:

. Calling for increased public investment in walking
. Putting walking at the top of the travel hierarchy
. The evidence that walking is good for our wellbeing, our high streets and the planet
. The need to reduce car journeys . Improving air quality and road safety . Ensuring our places and streets are designed for all and actively tackle inequalities

WHAT WE WANT TO ACHIEVE:

. Secure more investment in walking, and more people walking to school and work
. Ensure Highway Code revisions put people first and secure a ban on pavement parking in England
. Grow public and political profile to ensure election candidates support Living Streets’ walking manifesto and implement it
. Amplify diverse voices on the benefits of walking to create safer streets.
. Giving voice to those least represented in decisions about our streets.

SECURE MORE INVESTMENT IN WALKING

n The UK Government’s ‘Gear Change: a bold vision for walking and cycling’ set out plans for £2 billion new funding for walking and cycling, a ‘six-fold increase in dedicated funding’, which was confirmed in the November 2021 Spending Review.
n We welcomed this investment as people will now find it easier, safer and more attractive to walk and cycle. We continue to call for continuous, long-term investment, local action and dedicated targets for walking in the second Cycling and Walking Investment Strategy. We have been working closely with the Department for Transport (DfT), highlighting the need for greater ambition in its walking targets.

Annual Report and Accounts 2020–21

1 SPEAK UP

ENSURE HIGHWAY CODE REVISIONS PUT PEOPLE FIRST AND SECURE A BAN ON PAVEMENT PARKING IN ENGLAND

n In July 2021, the Government announced changes to the Highway Code , putting pedestrians at the top of a new road user hierarchy. This followed campaigning by Living Streets which saw over 5,000 of our supporters back our call to make #WalkingNumberOne . Living Streets has also been part of the Department for Transport’s expert advisory group on the Highway Code, working in partnership with stakeholders from across the transport world. These changes should become part of a revised Highway Code early this year.
n The Department for Transport launched a consultation into pavement parking in England in 2020. Over 7,000 of our supporters signed our petition during the consultation period. Barry Sheerman MP tabled an Early Day Motion (EDM) calling for a ban on pavement parking; 1,475 of our supporters wrote to their MPs urging them to sign, and 31 MPs signed the EDM.

We are currently awaiting a final decision from the Government and are continuing to work with officials, parliamentarians, and other stakeholders to make the case for change.

n In Scotland, we are frustrated that implementation of the ban has been delayed by COVID and the need for councils to complete preparatory work. Together with our supporters we have written to the Minister and MSPs urging them to set a post-pandemic deadline for the law being brought into force by 2023 at the latest. This provides time for local consultation and to plan a much-needed publicity campaign.
n The Welsh Government announced plans to give powers to local authorities to take action on pavement parking in autumn 2022. We continue to advise the Welsh Government on this issue through our membership of the task force group.

GROW PUBLIC AND POLITICAL PROFILE TO ENSURE ELECTION CANDIDATES SUPPORT LIVING STREETS’ WALKING MANIFESTO AND IMPLEMENT IT

n During local election campaigns across the UK in May 2021 we highlighted the difference walking can make to our health, environment and economy. Following the successful launches of our Manifestos for Walking in London, West Midlands, West Yorkshire, Greater Manchester, Liverpool City Region, Scotland and Wales, our members and supporters throughout the country wrote to candidates and local newspapers calling for implementation of our pledges to cut pavement clutter, make streets safer for walking, reduce air pollution and improve the walk to school.
n 1,000 supporters took election actions during the campaigns and 88 letters were published in local media drawing attention to our work. Many of our asks were reflected in manifestos and candidates publicly supported them at hustings events. We wrote to all winning candidates and are starting to work with newly elected teams.
n We grew our public profile this year, achieving 3,005 pieces of media coverage including 285 pieces of national press – up from 2,503 in the previous year.

Annual Report and Accounts 2020–21

1 SPEAK UP

AMPLIFY DIVERSE VOICES ON THE BENEFITS OF WALKING TO CREATE SAFER STREETS

Too often women, children, older and disabled people are excluded from designing and planning our public spaces. We know that if we want places that are liveable, healthier and better, we need to include more diverse groups in their development. This year, we have been strengthening our evidence base to help us understand the barriers different communities are facing.

n Our ‘Road traffic and injury risk in ethnic minority populations’ report, produced with Agilysis, studied four groups of pedestrian casualties. It found that deprived ethnic minority (excluding white minority) pedestrians are more than three times more likely to be casualties on Britain’s roads than white non-deprived pedestrians, and that deprivation more than doubles the risk of becoming a pedestrian casualty.
n Our Croydon Local Group’s, Our Voices, Our Streets project engaged with teenage girls and non-binary young people to ask them how they would redesign their public spaces to meet their needs.
n We completed a literature review ahead of our Walking for Everyone report , due in 2022. This work aims to understand the nuances for specific demographics and will see us looking at the intersectionality between different groups. We are delighted to be working on this with Arup and Sustrans.
n Work also started on a new project studying changes to street design, funded by Transport Scotland and the Department for Transport. We are working with disabled people and the organisations that represent them to understand the wide-ranging effects of street design changes to ensure any changes to make walking safer are done in an inclusive way.
n With support from the Department for Transport, we are undertaking research to help us better understand the impact of slips, trips and falls on our pavements, and what can be done to reduce the harm caused by broken and uneven streets.

LIVING STREETS AT COP26

At COP26 in Glasgow, we brought together women from across the globe to showcase how changes to street infrastructure can change travel behaviours in a positive way for the environment, our health and local economies. We were joined by speakers from Kenya, Brazil, Spain and the UK to discuss their approach to putting a more equitable society at the heart of their work. Our other events considered how community engagement can create safer streets and the wider health and social benefits that come from transport decarbonisation.

Annual Report and Accounts 2020–21

2 STEP UP

WE WILL SCALE UP FOR WALKING BY:

WHAT WE WANT TO ACHIEVE:

. Increasing our projects and replicating our products at scale
. Growing our community of supporters, listening and responding to local concerns and supporting policy calls
. Increasing and diversifying our funding streams
. Equipping our staff with the tools for the job
. Continuing to review and improve our products, services and project offerings ensuring they are relevant to our audiences and wider environmental concerns.
. Ensure Living Streets Services operations support scaling up, both across the supply chain and through effective systems
. Grow our local group and supporter networks and income, targeting a more diverse membership which reflects the communities we serve
. Ensure a scalable approach to project models, growing our Walk to School and Streets work.

ENSURE LIVING STREETS SERVICES’ OPERATIONS SUPPORT SCALING UP, BOTH ACROSS THE SUPPLY CHAIN AND THROUGH EFFECTIVE SYSTEMS

n In response to school closures, we adapted WOW – our walk to school challenge to be delivered virtually. Against this background, Living Streets Services has achieved a final profit figure of £434k – up 14% against budget. This is our second highest ever year for profit.
n 350,000 pupils and their families participated in Walk to School Week 2021 – a 37% increase in schools participating. A strong sales campaign pushed commercial revenue to over £108k. Our external/market sales rose to £291k at 30 September 2021, thanks to additional project use of Walk to School Week packs as part of the Walking Back To School project.
n We embarked upon a partnership with the Design Council , which saw an illustrious panel of their design experts judging our WOW Badge Design Competition.
n Savings have been achieved this year through a major warehouse tender and a consolidation of all Living Streets warehouse needs, ensuring our operations are both more effective and more efficient.

Annual Report and Accounts 2020–21

2 STEP UP

GROW OUR LOCAL GROUP AND SUPPORTER NETWORKS AND INCOME, TARGETING A MORE DIVERSE MEMBERSHIP WHICH REFLECTS THE COMMUNITIES WE SERVE

n Improved processes, boosted marketing and changes to our streets in response to the pandemic have led to a huge increase in our Local Group network, with 28 new groups in the last two years taking us to 61 in total. There is a new trend for parentinitiated groups and hyper local groups around a cluster of streets, as well as wider city focused umbrella groups. Each new group comes with an opportunity for Living Streets: increased connections with local authorities, engaged supporter audiences, regional publicity, and – most importantly – better streets for walking due to local group lobbying.
n We have been awarded funding from the European Climate Foundation to develop a whole-scale approach to diversity and inclusion within our campaigning network. We want to make our streets more accessible and attractive for everyone, and that means making sure we’re an inclusive

organisation. The additional funding will build on current Living Streets commitments by supporting diversity and inclusion within our Local Group network and campaigning.

n Our membership has increased this year to 2,888 members , with 41% of new members donating to us.
n Our annual National Walking Summit took place in March with fantastic speakers from Rotterdam, Oslo, Pontevedra and the UK, discussing the benefits of liveable, healthy streets. Over 500 people joined us online for the event, which made the front page of the Guardian online. We were particularly pleased to be joined by England Walking and Cycling Minister, Chris HeatonHarris MP; Scotland Transport Minister, Michael Matheson MSP; and Wales Active Travel Board Chair, Dafydd Trystan Davies.

OUR CROYDON GROUP’S OUR VOICES, OUR STREETS PROJECT

has seen them engage with teenage girls and non-binary young people to ask them how they would redesign their public spaces to meet their needs.

Annual Report and Accounts 2020–21

2 STEP UP

ENSURE A SCALABLE APPROACH TO PROJECT MODELS, GROWING OUR WALK TO SCHOOL AND STREETS WORK

n Living Streets Scotland continues to work in 40 schools with Scottish Government support and over 100 other schools supported by contracts with local authorities. External evaluation of the 2020/21 programme showed WOW schools having significantly higher levels of active travel than the national average.
n Our four-year Big Lottery Walking Connects project concluded this year having delivered 21 local projects across Scotland and a range of legacy resources, including a campaigner’s guide to better local streets.
n 40 nurseries/schools in the West Midlands have participated in our Little Feet programme, which supports more nursery age children and their families to travel actively. 63% of participating parents indicated that they are more likely to walk/ scoot/cycle all or part of the way to nursery/ school since taking part.
n We have been working across the West Yorkshire Combined Authority to increase walking in schools and

workplaces. We have engaged 42 businesses with a reach of over 65,000 employees through Walking Works, our walk to work programme; five secondary schools are participating in our Next Steps initiative for children transitioning to secondary school; and we are running WOW - our walk to school challenge, with an average active travel rate of 77%.

n Our work with East Sussex County Council supported increased walking in five WOW schools, three workplaces, three secondary schools and one university; trained 23 Workplace Walk Champions and 18 Walk Leaders; and produced a detailed Active Travel Map for the county.
n We are part of the strategic support consortium for the DfT’s Local Cycling and Walking Infrastructure Plan (LCWIP) project. These plans support active travel by helping local councils understand how people walk and cycle in their streets and set priorities for improving walking and cycling infrastructure. In summer 2021 the third phase of LCWIP was announced, providing further support to participating local transport authorities.

2 STEP UP

#WALKINGFROMHOME

In response to the pandemic, we adapted many of our products so they could be used flexibly, including launching the WOW Activity Tracker, which could be used at home or in school to support families to stay active at home and incentivise active travel to school as pupils transitioned back to the classroom.

n Living Streets Scotland is continuing its partnership work with Cycling Scotland to understand how the physical environment for pedestrians in and around social housing properties affects tenants.
n The Yn Awyr Agored Môn project, in partnership with Oriel Môn, saw us develop walking maps based on the paintings of the prolific Welsh artist, Sir Kyffin Williams. Volunteers and gallery staff were trained to lead walks to connect local adults, young carers and parents to the landscapes and countryside that Sir Kyffin painted.
n Through our Walking Friends Wales/ Cyfeillion Cerdded Cymru project, we work across Southeast Wales to support people aged 50+ to walk more. Funded by Healthy and Active Fund (Welsh Government, Sport Wales and Public Health Wales), the project supports over 50s who are experiencing social isolation and has seen 130 people join in with weekly group walks and other walking activities this year, a number of bilingual resources created, and 21 Volunteer Walk Leaders trained.
n In London , our City Bridge Trust funded Streets Apart project has engaged older people in Havering and Redbridge with regular walking. In Barking & Dagenham , we have been working with the council to support the implementation of School Streets and a Low Emissions Neighbourhood, including consultation programmes with residents, children and families from local schools. In Brent , we delivered an engagement programme for low traffic neighbourhood proposals. And in Merton , we worked with children and a local artist to develop class activities connecting ideas around pleasant routes to school with development of street mural designs.

“ The walks have helped me to get out and about after lockdown when I got out of the habit of walking and now, I walk most days for at least 30 minutes. They have given me the incentive to re-read the history of Newport and certainly helped my wellbeing.”

Walking Friends Wales participant

Annual Report and Accounts 2020–21

2 STEP UP

WALK TO EXTENSION

Funded by a £2.5m grant from the DfT as part of the Access Fund extension, the Walk To extension was delivered by Living Streets as the lead delivery partner for a consortium of 10 local authorities between April 2020 and May 2021: Blackpool Council, Buckinghamshire County Council, Hampshire County Council, Hertfordshire County Council, Leicester City Council, North East Combined Authority, North Lincolnshire Council, Stoke-on-Trent City Council, Surrey County Council and West Sussex County Council.

Through this project:

n 504 primary schools participated in WOW – our walk to school challenge
n 24 secondary schools took part in our Next Steps walking challenge
n 51 workplaces took part in Walking Works activities.

WALK TO SCHOOL OUTREACH AND WALKING BACK TO SCHOOL

We delivered the Walk To School Outreach (WTSO) project in partnership with six local and combined transport authority partners between 1 April 2020 – 31 March 2021: Liverpool City Region Combined Authority, Transport for Greater Manchester, West Midlands Combined Authority, West Yorkshire Combined Authority, Birmingham City Council and Sheffield City Region. The project was funded through a grant of £1m from the DfT.

A further £1m DfT funding (Walking Back to School) expanded the project in the current and new partner areas: Essex County Council, North Tyneside Council, Gateshead Council, Warrington Council, Bournemouth, Christchurch and Poole Council, and Nottingham City Council. This supported families returning to school following lockdown school closures.

Through this project:

n 416 schools took part in WOW – our walk to school challenge
n There was a +22% modal shift to walking all or part of the way to school
n 2.6 million new walking trips were made
n 400,000 car km were removed from the road
n The total Benefit Cost Ratio was 4.9.

From April 2021 until March 2022, we continue to deliver the Walk To School Outreach project, bringing on board partners in Lancashire, Hampshire, Northumberland, Newcastle, South Tyneside and Sunderland to take our partnership total to 43 English local authorities.

This project is being funded through a grant of £2m from DfT. New digital features include a portal for families and an easier set-up system to reduce the burden on teachers.

“ We were impressed with the practicality of WOW and how easy it was to complete. So far, we have seen a higher proportion of children wanting to actively travel to school, with support from their parents. We have also seen a reduction in congestion, which in these uncertain times has had many positive effects for our school, roads and community.”

Ryan Moseley, Teacher, Cooper & Jordan Church of England School, Walsall.

Annual Report and Accounts 2020–21

3 STAY STRONG

WE WILL BE A SUSTAINABLE ORGANISATION THROUGH:

. Being a well-governed charity
. Ensuring we have sustainable funding
. Monitoring and evaluating the way we work for continuous improvement
. Supporting and investing in our staff and volunteers
. Investing in our operations
. Increasing the diversity of our staff, volunteers and beneficiaries
. Measuring and managing our carbon, waste and water footprint.

SECURE CONTINUED FUNDING FOR MAJOR PROJECTS AND INCOME SOURCES, AIMING FOR EXPANSION AND DIVERSIFICATION

MAJOR FUNDERS

n Funding from major grants continues to be a significant source of income for Living Streets. The shift from DfT’s Access Fund to the Capability Fund has resulted in devolution to all English local authorities and Combined Authorities, rather than central allocation of funding as in previous years. We have secured contracts with four local authorities already, with more in the pipeline.

WE WILL ACHIEVE THIS BY:

. Securing continued funding for major projects and income sources, aiming for expansion and diversification
. Delivering a new CRM system and ensuring best practice, due diligence and strong governance is embraced across the charity
. Implementing equality and diversity framework and developing a sustainability framework.

----- Start of picture text -----
15
----- End of picture text -----

----- Start of picture text -----
Annual Report and Accounts 2020–21
3 STAY STRONG
----- End of picture text -----

STATUTORY GRANTS AND CONTRACTS

n We achieved grants and contracts this year totalling £4,574,938, including from Department for Transport, Transport Scotland, Smarter Choices Smarter Places, the Active Travel Fund, Cycling Scotland, Cycling by Design, Sport Wales, LCWIP and the Welsh Government.

TRUSTS, FOUNDATIONS AND LOTTERY

INDIVIDUAL GIVING

n Our individual giving activity has continued to develop. Most of our donations come from membership fees, along with fundraising activity around Christmas appeals. Income for this year has grown to £29k, including 442 individual donors.
n We received a generous legacy bequest of £10,000 in December 2020.
n Trusts and foundations have supported our work in a number of areas including:
. National Lottery Heritage Fund supporting our work in Anglesey
. City Bridge Trust support for our work with older adults in London
. European Climate Foundation support for our local group diversification project.

Annual Report and Accounts 2020–21

3 STAY STRONG

DELIVER A NEW CUSTOMER

RELATIONSHIP MANAGEMENT SYSTEM (CRM) AND ENSURE BEST PRACTICE, DUE DILIGENCE AND STRONG GOVERNANCE IS EMBRACED ACROSS THE CHARITY

n Following a tender and shortlisting process, we have appointed a supplier for a new CRM. The CRM will help ensure the charity operates efficiently and effectively.

IMPLEMENT EQUALITY AND DIVERSITY FRAMEWORK AND DEVELOP A SUSTAINABILITY FRAMEWORK

n We are building an action plan outlining the steps we will take to ensure that equality, inclusion and diversity are embedded into everything we do. This will focus on removing artificial barriers and embracing diversity within the organisation, whilst externally promoting the importance of inclusion in our streets. The European Climate Foundation funding to diversify our local group operations and campaigning activity will help us accelerate our ambition.

----- Start of picture text -----
17
----- End of picture text -----

Annual Report and Accounts 2020–21

LOOKING AHEAD

The next year will continue to offer great potential for walking. The 2021 Spending Review confirmed a £2bn investment in walking and we are discussing opportunities to deepen our work with schools, communities and in other settings with the Department for Transport, devolved governments and local authorities.

Our objective is to work with a greater number of beneficiaries and amplify the impact we are able to have across the country. We want to be bolder in what we say and do in relation to diversity and inclusion, and the unequal impact of our streets, in our campaigns, project and operational work. Our work with the European Climate Foundation to diversify our local group operations will

support this and our 2022 Walking Summit will focus on equality and inclusion as we push for walking to be open to all, regardless of income, race, age, ability or gender.

We will continue to strive to make walking number one. Highway Code reforms are expected to be finally approved in early 2022. We also expect a decision from the Department for Transport on pavement parking, a new version of Manual for Streets, and publication of the second Cycling and Walking Investment Strategy. Throughout, we will be demonstrating the difference walking can make to our health, our environment and our local economies.

----- Start of picture text -----
18
----- End of picture text -----

Annual Report and Accounts 2020–21

THANKS TO PARTNERS

The Board of Trustees would like to thank our partners who have made our work possible.

n London Borough of Barnet n Be First Barking and Dagenham n Bedford Borough Council n Bracknell Forest Council n London Borough of Brent n Brighton and Hove City Council
n Bristol City Council
n Buckinghamshire County Council n Cardiff City Council n Central Bedfordshire Council
n City Bridge Trust
n City of London Corporation n Clackmannanshire Council n London Borough of Croydon n Cumbria County Council
n Cycling Scotland
n Department for Transport
n Design Council
n London Borough of Ealing n East Renfrewshire Council n East Sussex County Council
n Essex County Council
n European Climate Foundation
n Gabrielle Rowe Trust
n Glasgow University
n London Borough of Greenwich
n Bailiwick of Guernsey
n London Borough of Hackney n Halton Borough Council n London Borough of Haringey n London Borough of Havering
n Heritage Lottery Fund
n Liverpool City Council
n London Borough of Merton
n London Cycling Walking Infrastructure
n Luton Borough Council
n Melton and Belvoir Rural District Council
n Mersey Travel
n London Borough of Merton
n Milton Keynes Council
n Modeshift STARS
n Monmouthshire Council
n Mott MacDonald
n National Lottery
n North Somerset Council
n Northeast Lincolnshire Council
n Oxfordshire County Council
n Paths for All
n Plymouth City Council
n Reading Borough Council
n Scottish Government / Transport Scotland
n South Gloucestershire Council
n Southampton City Council
n Sport Wales Healthy and Active Fund
n Staffordshire County Council
n Stoke-on-Trent City Council
n Suffolk County Council
n Surrey County Council
n West of England Combined Authority
n Vale of Glamorgan Council
n Welsh Government
n West Midlands Combined Authority
n West Yorkshire Combined Authority
n Wokingham Borough Council
n London Borough of Hounslow n Royal Borough of Kensington & Chelsea
n London Borough of Lambeth
n Leeds City Council

Thank you as well to all our other partners who supported our work.

Living Streets is part of the Walking and Cycling Alliance, comprising Bicycle Association, British Cycling, Cycling UK, Living Streets, Sustrans and the Ramblers.

Annual Report and Accounts 2020–21

FINANCIAL REVIEW

order to help deliver behaviour change and contribute to better walking environments. The financial statements in this report are consolidated to include the subsidiary company Living Streets Services Limited. The Trustees believe the charity is in a good financial position in the short to medium term and will continue to deliver an outcomes-led programme of work in 2021-22 with adequate resources to continue operating for the foreseeable future.

Living Streets is funded by government grants and revenue earning activities. We use this income in pursuit of our objectives aiming for efficiency, economy, and the best possible impact.

We operate across England, Wales and Scotland, working with many local authorities across the three nations to deliver on projects and programmes that make it easier and more attractive for people to choose to walk. We work with trusts and foundations, support local groups and engage in campaigning in

OUR FINANCIAL PERFORMANCE IN 2020/2021

The national Covid-19 pandemic, which began in the middle of our previous financial year, continued throughout the year and presented a challenge to management and staff.

During the year the government enacted a significant change to its funding arrangements, replacing what was a single grant (the Access Fund) with a distributed grant (the Capability Fund) introducing more uncertainty into our funding projections. The Board therefore set a prudent budget for the year and decided to delay certain capital investments in IT and income generation. Accordingly, we began the year expecting a small deficit and are pleased to report that performance exceeded budget. We closed the year with an increase in funds of £211k.

FUNDING

Total consolidated funds at 30 September 2021 were £3,773k (2020: £3,562k) of which £2,108k were restricted (2020: £2,127k).

Living Streets was responsible for 22 restricted grants in the financial year ended 30 September 2021 (2020: 15).

Total unrestricted funds increased to £229k (2020: £1,435k).

Funds of the parent charity increased by £26k (2020: £1,204k) including the previous year’s profit from Living Streets Services of £232k.

Details on the grants and other funds received during the year are set out in notes 2 and 17 to the financial statements.

The Trustees express their thanks to the individuals and organisations who continue to support the work of the charity.

Annual Report and Accounts 2020–21


	HIGHLIGHTS 2020-21 2019-20 Unrestricted (defcits)/surplus £229,379 £20,350 Unrestricted Income £1,490,682 £1,314,330 Total Income for the year £5,413,263 £6,495,067 Unrestricted reserves as a % of total income 31% 22% Free Reserves £622,397 £343,430 Cash and cash equivalents £3,455,134 £3,523,060 Staff numbers, average full time equivalent 85 83

The financial statements include the consolidated results of Living Streets’ subsidiary company, Living Streets Services Limited (note 10 and note 19).

Living Streets’ consolidated statement of financial results, for the year ending 30 September 2021 shows an overall surplus of £210,761 (4% of total income), for 2020 it was a surplus of £1,129,527. The latter was the effect of an early receipt of £1m for Walking Back To School.

Annual Report and Accounts 2020–21

FUNDING CONTINUED

CASH BALANCES

Income from charitable activities amounted to £4,827k (2020: £5,799k), a decrease of £972k. Most of the difference here was accounted for by an early receipt last year of £1m for the project Walking Back to School.

Total income of Living Streets Services Ltd was £1,158k (2020: £928k). The trading income figure in the consolidated accounts is £434,448 (2020: £231,624) all generated by third-party sales. These figures exclude amounts generated by transactions between Living Streets and Living Streets Services Limited.

Resources expended amounted to £5,228k (2020: £5,375k), a decrease of £147k.

Due to the continuing pandemic, some projects and programmes were paused, meaning we could not draw down the related funding. The Government Coronavirus Job Retention Scheme helped to mitigate some of this financial impact. From it we received £184k (2020: £281k).

Living Streets’ consolidated statement of financial results, for the year ended 30 September 2021 shows an overall surplus of £211k (4% of total income).

Living Streets held normal cash balances throughout the year. At 30 September 2021 Living Streets’ cash balance was £3,455k (2020: £3,523k).

All cash and cash equivalents are kept with banks and financial institutions. There are no barriers to or impacts from accessing the funds and no concern on the recoverability from our customers. The level of working capital is adequate to meet all short to medium term liabilities and contingent commitments.

STAFF

The average number of employees at the reporting date was 96 (2020: 92) a full-time equivalent (FTE) of 85 (2020: 83).

Annual Report and Accounts 2020–21

THE FUTURE

In the current financial year, ending 30 September 2022, while the pandemic continues and we face a potentially adverse economic climate, our strategy is to react quickly to changing financial risks and opportunities in a sustainable way.

We benefit from support from national and local government who recognise the importance of walking and cycling to our recovery from the pandemic. Our strong relationship with the Department for Transport provides financial stability in the near term, notably the Walk to School Outreach programme.

We aim to establish and maintain a secure and diversified range of funding that will enable us to deliver our objectives successfully. Our healthy reserves help to smooth and mitigate the ups and downs of emerging financial risks.

ASSESSMENT OF FINANCIAL RISK

The Living Streets Board takes a prudent and conservative attitude to the uncertainty surrounding events and their outcomes that may have a significant impact on the charity’s operations. Under this guidance from Trustees, senior management operates a rigorous and consistent approach to the identification, assessment and management of business risk, including financial risks.

At 30 September 2021 the principal risks were:

. Dependence on too few sources of funding
. Safeguarding for children and vulnerable adults
. The impact of the continuing pandemic
. The physical and mental wellbeing of our staff
. Our capacity and competence to deliver our objectives in a time of potential staff shortages
. The limitations of our existing IT systems for customer relationship management (CRM)
. Achieving the full potential from our trading subsidiary.

Each of these principal risks continue to receive careful attention and active management. The Board and its risk sub-committee reviews the full risk register regularly and is satisfied that management has established appropriate systems and procedures to mitigate, manage and respond to these and other current or emerging risks.

Annual Report and Accounts 2020–21

OUR RESERVES POLICY

Reserves are that part of a charity’s unrestricted fund that is freely available to spend on any of the charity’s purposes. It is our policy to hold reserves sufficient to meet these goals:

a) To enable financial stability and meet working capital requirements on a continuing everyday basis
b) To safeguard the charity’s commitments against temporary fluctuations in income levels
c) To provide for the orderly closing down of the charity and its subsidiary trading company should this ever prove necessary
d) To designate funds for specific purposes approved by the Board, normally with a time limit within which these funds should be spent.

At 30 September 2021 a sum of £100k (2020: 100k) was held to protect against temporary fluctuations in income (the Stabilisation fund) and £550k (2020: £550k) was held to provide for winding up (the Reserve Fund). Details of these and other specifically designated funds are in Note 14 to the financial statements.

Available reserves are what remains after appropriate amounts have been set aside to meet goals (b), (c) and (d) and are used to meet goal (a). At 30 September 2021 available reserves were £662k (2020: £418k).

Available reserves necessarily include tangible fixed assets and to that extent are partially unavailable. We therefore also review the level of free reserves, defined as available reserves less the net value of our fixed assets (see Note 8).

At 30 September 2021 free reserves were £622k. The Trustees consider the level of available reserves to be adequate and not excessive. The Board will continue to review the level and deployment of reserves.

----- Start of picture text -----
24
----- End of picture text -----

Annual Report and Accounts 2020–21

OUR INVESTMENT POLICY

Living Streets invests for prudent financial management and not for financial return. A small amount is held in stocks and shares, and some cash in short term deposits.

At 30 September 2021, the investment held in stocks and shares was £212k (2020: £187k), a net gain of £25k. £470 was held on short term deposit with COIF Charities Deposit Fund (2020: £470).

Annual Report and Accounts 2020–21

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

Living Streets is a registered charity in England, Wales and Scotland, and a private company limited by guarantee. It is governed by its Board of Trustees operating under the terms of the Articles of Association as amended on 18 March 2021.

CHARITY GOVERNANCE CODE

Living Streets supports the principles of good governance set out in the Charity Governance Code for medium charities, and will continue to review the charity’s practice against the Code’s requirements as part of an approach of continuous improvement of governance arrangements.

Living Streets is committed to diversity and inclusion in the widest sense, and welcomes applications from everyone. During the year, two Trustees retired and two new Trustees joined the Board. Applicants were shortlisted and interviewed by a panel of Trustees and appointed based upon their skills, competencies and experience.

The Chief Executive Officer, Mary Creagh, who was appointed on 1 September 2020 resigned in June 2021. Stephen Edwards (formerly Director of Policy and Communications) was appointed by the Chair and Board of Trustees as the Interim Chief Executive Officer on 24 June 2021 until 30 September 2022.

TRUSTEE INDUCTION AND TRAINING

RECRUITMENT AND APPOINTMENT OF TRUSTEES AND CHIEF EXECUTIVE OFFICER

The Trustees have a wide range of skills and experience. They are appointed for a period of three years, which is renewable normally no more than once. The Chair and Trustees, together with the Chief Executive Officer, identify the skills, experience and background required of the Trustees to ensure that the Board is able to deliver its duties, and to support and challenge the Executive.

The induction for new Trustees includes the provision of a Trustee Handbook containing key documentation, one-to-one meetings with key people, site/project visits, and attending an externally provided Trustee induction and refresher training. Trustees have regular meetings with the Chair of the Board. This enables any training and development needs to be identified and addressed. All Trustees receive periodic updates and guidance on their role as Trustees of the charity.

CONFLICTS OF INTEREST

Each Trustee is required to disclose potential or actual conflicts of interest to the Chair for inclusion in the register of interests and also at Board or Committee meetings if relevant.

Annual Report and Accounts 2020–21

ROLE OF THE TRUSTEES

The Trustees meet at least five times a year to review strategy and performance, agree operating plans and annual budgets, and to meet with and hear from stakeholders and employees.

Sub-groups of the Trustees include the Audit and Risk Committee, which is an advisory committee and meets as required. The Remuneration Committee is also an advisory committee and meets once a year. Living Streets Services operates as a separate legal entity, with two Trustees and a Non-Executive Director from the Senior Management Team sitting alongside other Non-Executive Directors.

Trustees monitor and have overall responsibility for:

n Approving the overall strategy and annual budget of the organisation, ensuring that the Charity has appropriate systems of controls, financial and otherwise
n Keeping proper accounting records which comply with the Companies Act 2006 and the Charities’ SORP
n Safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
n Providing assurance that the charity is operating efficiently and effectively, carrying out risk assessments to identify possible risks to the achievement of the charity’s objectives and establishing procedures, actions and systems to mitigate them. This monitoring of financial and other areas of performance ensures that the Trustees are continually appraised of progress and the risks the charity faces. The day-to-day running of the charity is delegated to the Chief Executive, who in turn delegates specific responsibilities to members of the Executive Team.

The Senior Management Team is the Executive team, which recommends strategies to the Board for approval. During the year, Senior Management Team meetings were held weekly. Their purpose is to review the performance of the charity’s work, and to address any issues and opportunities arising with regard to finance, health and safety, risk management, resourcing and programmes of delivery and influencing work. The Senior Management Team ensures that appropriate structures and processes are in place to enable effective oversight, scrutiny and decision making across the organisation, that there is accountability for those decisions and that there is effective leadership of, and communication with, staff across the organisation.

Annual Report and Accounts 2020–21

REMUNERATION

Living Streets aims to ensure that all members of staff, including the CEO, are paid appropriately according to the nature of their work and experience, the function and skills requirements of their role and in line with our organisational pay strategy and pay band structure, which is benchmarked against the market rate for the sector.

Responsibility for setting the pay for all staff, excluding the Chief Executive, is delegated to the Remuneration Committee. This policy does not extend to the rest of the key management personnel (KMP). This is reviewed annually and seeks to offer a total benefits package that is intended to attract and retain management of the quality required to run the charity successfully and sustainably and to support the long-term strategy and purpose of the charity. Senior management is not involved in the decisions relating to their own remuneration. The salary for the Chief Executive is agreed by the Chair and the Board of Trustees. The Trustees are not remunerated.

GENDER PAY GAP

Although Living Streets employs fewer than 250 employees and is therefore not required by law to disclose information on the gender pay gap, we consider it good practice to do so. At September 2021 the charity overall median gender pay gap was 2.03% compared to the national average of 7.9% in April 2021. We continue to monitor and review pay levels and the application of our pay strategy to ensure there is no gender bias and will continue to consider ways to reduce this alongside our wider diversity and inclusion policies and activities to make sure our policies and practices are fair.

SUSTAINABILITY REPORT

We are committed to the continuous improvement of our environmental performance, as part of our overall goal of implementing the principles of sustainable development in all areas of our work. We will optimise resources and continue investigating ways of reducing resource use and minimising environmental impact. We will also aim to encourage our partners and suppliers to do the same. Our aim is to ensure that environmental objectives are integrated into relevant business objectives in a cost-effective manner. Living Streets has plans to set standards of environmental best practice above and beyond relevant legislation in all its activities throughout the organisation within the resources available.

PUBLIC BENEFIT

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, its achievements in the past year and in planning its future activities. It is considered that the past and planned future activities comply with the aims of the charity and are carried out for the public benefit.

Annual Report and Accounts 2020–21

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

The Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the group’s income or expenditure for the year. In preparing those financial statements the Trustees are required to:

n Select suitable accounting policies and then apply them consistently
n Observe the methods and principles of the Charities SORP
n Make judgements and estimates that are reasonable and prudent
n State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
n Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Trustees confirms, that to the best of their knowledge, there is no information relevant to the audit of which the auditors are unaware. Each of the Trustees confirms that they have taken all necessary steps to ensure that they themselves are aware of all relevant audit information and that this information was communicated to the auditors.

The Trustees have no beneficial interest in the charity.

AUDITORS

A resolution to appoint auditors will be proposed at the Annual General Meeting in 2022.

Approved by the Trustees on 20 January 2022 and signed on their behalf by:

Dame Jane Roberts

Chair of the Board of Trustees, Living Streets

Annual Report and Accounts 2020–21

REPORT AND FINANCIAL STATEMENTS

30 SEPTEMBER 2021

Reference and administrative details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Consolidated Statement of Financial Activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Consolidated Statement of Cash flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

REFERENCE AND ADMINISTRATIVE DETAILS

COMPANY NUMBER 05368409 CHARITY NUMBER 1108448 CHARITY NUMBER SC039808 (SCOTLAND) REGISTERED OFFICE America House, OFFICE AND 2 America Square, London, EC3N 2LU OPERATIONAL ADDRESS PRESIDENT Michael Bates Appointed 24 June 2020 VICE PRESIDENT Susan Claris Appointed 24 June 2020

Annual Report and Accounts 2020–21

TRUSTEES The Trustees and Directors of the company who were in offce during the year and up to the date of signing the fnancial statements were:	Dame Jane E Roberts Mollie Bickerstaff Averil Price Susan Claris William Tyler-Greig Alexander Veitch Christopher Martin Jo Field Fiona Walker Barbara Walshe Mohammed Mohsanali Shruti Jain Sarah Price Ros Richards Sarah Berry Stephen Brooks	Chair Treasurer Resigned March 2021 Resigned July 2021 Appointed July 2021 Appointed July 2021
COMPANY SECRETARY	Faheza Peerboccus
PRINCIPAL STAFF	Stephen Edwards Appointed 9 June 2021 Mary Creagh Resigned 8 June 2021 Jenni Wiggle 12 Mar 2020 to 15 Sept 2020 Jenni Wiggle Left in December 2020 Dean Jefferys Appointed 4 Jan 2021 Karen Doyle Appointed 4 Jan 2021 Faheza Peerboccus Roberta Fusco Appointed 30 Sept 2021	Interim Chief Executive Chief Executive Interim Chief Executive Senior Director Director of Local Impact Director of Development Director of Finance and Resources Interim Director of Policy and Communications
BANKERS	Cooperative Bank Plc PO Box 250 Skelmersdale WN8 6WT	NatWest PO Box 12258, 1 Princess Street, London, EC2R 8BP
SOLICITORS	DWF LLP Centurion House, 129 Deansgate, Manchester, M3 3AA
INVESTMENT MANAGERS	CCLA Investment Management Ltd 80 Cheapside, London, EC2V 6DZ
AUDITORS	MHA MacIntyre Hudson Sixth Floor, 2 London Wall Place London EC2Y 5AU

Annual Report and Accounts 2020–21

INDEPENDENT AUDITOR’S REPORT

We have audited the financial statements of Living Streets (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 30 September 2021 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

n Give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 30 September 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
n Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
n Have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report.

We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Annual Report and Accounts 2020–21

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

n The information given in the Trustees’ report (incorporating the Directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
n The Trustees’ report (incorporating the Directors’ report) has been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

n Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
n The parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
n Certain disclosures of Directors’ remuneration specified by law are not made;
or
n We have not received all the information and explanations we require for our audit; or
n The Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Directors’ report and from the requirement to prepare a strategic report.

Annual Report and Accounts 2020–21

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ responsibilities statement included in the Trustees’ Annual Report, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

n Obtaining an understanding of the legal and regulatory frameworks that the entity operates in, focusing on those laws and regulations that had a direct effect on the financial statements;
n Enquiry of management to identify any instances of known or suspected instances of fraud;
n Enquiry of management and those charged with governance around actual and potential litigation and claims;
n Enquiry of management about any instances of non-compliance with laws and regulations;
n Reviewing the design and implementation of control systems in place;
n Testing the operational effectiveness of the controls;
n Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
n Reviewing minutes of meetings of those charged with governance;
n Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Annual Report and Accounts 2020–21

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/ Our-Work/Audit/Audit-and-assurance/ Standards-and-guidance/Standardsand-guidance-for-auditors/Auditorsresponsibilities-for-audit/Description-ofauditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

USE OF THIS REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart McKay BSc FCA DChA

(Senior Statutory Auditor) for and on behalf of MHA MacIntyre Hudson Statutory Auditor London, United Kingdom

Date: 28/01/2022

Annual Report and Accounts 2020–21

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

(incorporating an income and expenditure account)


INCOME FROM: RESTRICTED UNRESTRICTED 2021 2020 NOTE £ £ £ £ Donations and legacies 2 70,000 224,064 294,064 443,757 Charitable activities 3 3,852,581 974,431 4,827,012 5,798,981 Activities for raising funds - 291,103 291,103 246,121 Investment income - 1,085 1,085 6,208 TOTAL INCOME 3,922,581 1,490,683 5,413,264 6,495,067




EXPENDITURE ON: Raising funds: Costs of raising income 3 - 188,792 188,792 225,920 Costs of raising tradingincome 3 - 197,601 197,601 207,324 Charitable activities 3 3,941,199 900,041 4,841,240 4,941,933 TOTAL EXPENDITURE 3 3,941,199 1,286,434 5,227,633 5,375,177




Net gain on investment	9	-	25,131	25,131	9,637
NET MOVEMENT IN FUNDS		(18,618)	229,380	210,762	1,129,527
TOTAL FUNDS AT 1 OCTOBER 2020	17	2,126,722	1,435,338	3,562,060	2,432,533
TOTAL FUNDS AT 30 SEPTEMBER 2021		2,108,104	1,664,718	3,772,822	3,562,060

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the financial statements.

Annual Report and Accounts 2020–21

BALANCE SHEETS

THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021	THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021	THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021	THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021	THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021	THE GROUP THE CHARITY AS AT 30 SEPTEMBER 2021

FIXED ASSETS: 2021 2020 2021 2020 NOTE £ £ £ £ Tangible assets 8 40,018 74,069 40,018 74,069 Investments 9 212,276 187,145 212,276 187,145 TOTAL 252,294 261,214 252,294 261,214




CURRENT ASSETS: Debtors 11 682,825 395,676 531,075 333,017 Stock 12 90,982 80,088 33,449 14,628 Cash at bank and in hand 13 3,455,134 3,523,060 3,055,164 3,449,642 TOTAL 4,228,941 3,998,824 3,619,688 3,797,287




LIABILITIES: Creditors: amounts due within one year 14 (675,984) (642,958) (501,180) (673,045)





NET CURRENT ASSETS		3,552,957	3,355,866	3,118,508	3,124,242
TOTAL ASSETS LESS CURRENT LIABILITIES		3,805,251	3,617,080	3,370,802	3,385,456
Provisions for liabilities and charges	15	(32,429)	(55,020)	(32,429)	(55,020)
NET ASSETS	16	3,772,822	3,562,060	3,338,373	3,330,436
FUNDS	17
Restricted Income funds		2,108,104	2,126,722	2,108,104	2,126,722

Approved by the trustees on 20 January 2022 and signed on their behalf by Dame Jane E Roberts, Chair

Annual Report and Accounts 2020–21

CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2021


	CASHFLOWS FROM OPERATING ACTIVITIES: 2021 2020 £ £ Net income / (expenditure) 210,762 1,129,527 Adjustments for: Depreciation 37,736 38,253 (Gain) on investments (25,131) (9,636) Interest income (1,085) (6,208) (Increase) / decrease in trade and other receivables (287,149) (55,515) Decrease in inventories (10,894) 43,515 Increase / (decrease) in trade and other payables 10,435 258,302 Disposal of fxed assets - 850 NET CASHFLOW FROM OPERATING ACTIVITIES (65,326) 1,399,088




	CASHFLOWS FROM INVESTING ACTIVITIES: PURCHASE OF PROPERTY PLANT AND EQUIPMENT (3,685) (1,145) Interest received 1,085 6,208 NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES (2,600) 5,063




	CASH FLOWS FROM FINANCING ACTIVITIES: CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING PERIOD (67,926) 1,404,151 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD INTEREST RECEIVED 3,523,060 2,118,909 CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD 3,455,134 3,523,060

Annual Report and Accounts 2020–21

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES

a) The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments, and in accordance with applicable Accounting Standards and the Companies Act 2006. They follow the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102), Charities SORP FRS 102 and the Charities Act 2011, and the Charities Accounts (Scotland) Regulations 2006. The Charity meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared on a going concern basis.
These financial statements consolidate the results of the charitable company and its wholly owned subsidiary Living Streets Services Limited on a line-byline basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company’s balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

The year-end results of the Charity in the year is a surplus of £7,937 (2020: £1,299,265).

b) Voluntary income received by way of donations and gifts is included in full in the statement of financial activities when receivable. Income from legacies is accounted for on a receivable basis and is recognised in full in the financial statements in the period in which probate is granted and the amount of the legacy can be estimated with reasonable accuracy.
c) Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier. Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions, the income is deferred.
d) Income generated from the supply of goods is included in the statement of financial activities (net of VAT) in the period in which the supply is made. Income under contracts for services is included in the financial statements as entitlement is earned through completion of the contract.
e) Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
f) Unrestricted funds are donations and other income received or generated for the charitable purposes.
g) Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
h) Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Annual Report and Accounts 2020–21

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure. Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

i) Investments held as fixed assets are revalued at mid-market value at the balance sheet date. The gain or loss for the period is taken to the statement of financial activities.
j) The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.
k) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered. Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the support costs and cost of the overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of staff time attributable to each activity.
l) Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
m) Fixed assets are stated at cost less accumulated depreciation.

Where parts of a fixed asset have different useful lives, they are accounted for as separate items of fixed assets.

n IT equipment 25% straight line
n Office furniture 25% straight line and equipment

Equipment including computers, furniture, and fittings, costing less than £1,000 per individual items or group of related items is written off in the year of acquisition. Equipment purchased from revenue grants in excess of £1,000 is written off in full in the year it is acquired. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

n) Transfers between funds are made when expenditure on a fund has exceeded the income generated.
o) It is the charity’s policy to provide for dilapidations for the London office, and the value of this provision is based on an estimate of the management team and trustees. This commitment is to be met in the final year of the property lease (on 11 March 2023 for 2 America Square).
p) Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight-line basis over the minimum lease term.

Annual Report and Accounts 2020–21

q) Stocks are valued at the lower of cost and net realisable value on a first in first out basis.
r) Cash and cash equivalents include deposits repayable on demand without penalty. Short term money market deposits and fixed term cash deposits which do not meet this criteria are held under current assets as short-term deposits. Cash and bank deposits are stated at the cash amount.
s) Other financial assets and liabilities - debtors and creditors are stated at the settlement amount after any applicable discounts.
t) Financial instruments - the charity has financial assets and financial liabilities of a kind that qualify at basic financial instruments. Financial instruments are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financial assets held at amortised cost compromise cash at bank and in hand, short term cash deposits and the charitable company’s debtors excluding prepayments. Financial liabilities held at amortised cost comprise the charitable company’s short term and long-term creditors excluding deferred income. No discounting has been applied to these financial instruments on the basis that the period over which amounts will be settled are such that any discounting would be immaterial.
u) Critical accounting judgements and key sources of estimation uncertainty - In the application of the charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period or, in the period of the revision and future periods, if the revision affects the current and future periods. In the view of the Trustees, no assumptions concerning the future estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

v) The Financial Statements have been prepared on a going concern basis. The Trustees assess whether the use of going concern is appropriate and have identified no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period to 12 months from the date of approval of the Financial Statements.

Annual Report and Accounts 2020–21


	DONATIONS AND LEGACIES RESTRICTED UNRESTRICTED 2021 2020 £ £ £ £ Donations - 29,245 29,245 62,757 Legacies - 10,500 10,500 100,000 Coronavirus Job Retention Scheme (CJRS) - 184,319 184,319 281,000 DfT Modeshift Stars National Award Scheme 70,000 - 70,000 - TOTAL 70,000 224,064 294,064 443,757


	INCOME FROM CHARITABLE ACTIVITIES: RESTRICTED UNRESTRICTED 2021 2020 £ £ £ £ London Councils - Service Level Agreements - - - 52,586 Scottish Government Scotland Walking Nation 151,210 - 151,210 229,491 Cycling Scotland Social Housing Fund 2020-21 25,000 - 25,000 - Out and About, Smarter Choices Smarter Places 16,668 - 16,668 92,999 Paths For All Walking Workplaces for Wellbeing - - - 11,752 Smarter Choices, Smarter Places (Scottish Government) - 238,834 238,834 169,558 Walking Friends Wales 21,943 - 21,943 180,774 Cardiff Streets for Health - - - 25,000 Big Lottery Fund Walking Connects (Scotland) - - - 110,634 Walk To (DfT) - - - 2,473,667 Walk To School Outreach - - - 1,000,000 Walking Back To School - - - 1,000,000 City Bridge Trust (Redbridge Streets Apart) 44,695 - 44,695 33,420 Access Fund 20-21 1,237,500 - 1,237,500 78,044 Sustainable Travel Transition Year (STTY) Fund - - - 69,166 South Gloucestershire (Access Fund) - - - 30,348 Local Cycling and Walking Infrastructure Plans(LCWIPs) 23,500 - 23,500 23,000 Consultancy and business development - - - 218,542 Yn Awyr Agored Môn (Sir Kyffn Williams WalkingTrail) 10,000 - 10,000 -

Annual Report and Accounts 2020–21


	INCOME FROM CHARITABLE ACTIVITIES:(CONTINUED) RESTRICTED UNRESTRICTED 2021 2020 £ £ £ £ Walk To School Outreach 2021-22 1,650,000 - 1,650,000 - Walk To School Outreach Digital Project 350,000 - 350,000 - Walk To School Outreach – Slips, Trips and Falls Research Project 100,000 - 100,000 - Merton School Streetscapes 50,263 50,263 - Transport Scotland Inclusive Streets 2021-23 19,234 - 19,234 - Social Housing Partnership Fund for Im- proved Cycling& WalkingFacilities 25,160 - 25,160 - Transport Scotland Walking Nation 2021-22 107,255 - 107,255 - West Midlands Little Feet - 89,106 89,106 - Surrey County Council Walking Maps - 46,558 46,558 - Surrey TDM Project - 25,000 25,000 - Herfordshire - The School Walk 2021-22 - 97,000 97,000 - Mersey Travel ATF 2021-22 - 19,617 19,617 - Bristol County Council - 82,557 82,557 - Leicester- Walk to School Programme - 38,950 38,950 - European Climate Foundation Grant 20,153 - 20,153 - Consultancy and business development - 336,809 336,809 - TOTAL 3,852,581 974,431 4,827,012 5,798,981

Annual Report and Accounts 2020–21


	INCOME FROM CHARITABLE ACTIVITIES:(CONTINUED) RESTRICTED UNRESTRICTED 2020 £ £ £ London Councils - Service Level Agreements - 52,586 52,586 Scottish Government Scotland Walking Nation 229,491 - 229,491 Bus Connectivity and Walking Project - - - Housing Association Walking Project - - - Out and About, Smarter Choices Smarter Places 92,999 - 92,999 Paths For All Walking Workplaces for Wellbeing 11,752 - 11,752 Smarter Choices, Smarter Places (Scottish Government) - 169,558 169,558 Walking Friends Wales 180,774 - 180,774 Cardiff Streets for Health 25,000 - 25,000 DfT Modeshift National Schools Travel Awards - - - Go Walking (West Yorkshire Combined Authority) - - - Big Lottery Fund Walking Connects (Scotland) 110,634 - 110,634 Walk To (DfT) 2,473,667 - 2,473,667 Walk To School Outreach 1,000,000 - 1,000,000 Travel Tracker - - - Walking Back To School 1,000,000 - 1,000,000 City Bridge Trust (Redbridge Streets Apart) 33,420 - 33,420 Access West Fund 20-21 - 78,044 78,044 Sustainable Travel Transition Year (STTY) Fund - 69,166 69,166 South Gloucestershire (Access Fund) - 30,348 30,348 Local Cycling and Walking Infrastructure Plans (LCWIPs) 23,000 - 23,000 Consultancy and business development - 218,542 218,542 TOTAL 5,180,737 618,244 5,798,981

Annual Report and Accounts 2020–21


	TOTAL EXPENDITURE: TOTAL 2021 TOTAL 2020 £ £ £ £ Cost of raising funds - 188,792 188,792 225,920 Costs of raising tradingincome - 197,601 197,601 207,324 Charitable activities 3,941,199 900,041 4,841,240 4,941,933 TOTAL EXPENDITURE 3,941,199 1,286,434 5,227,633 5,375,177 RESTRICTED UNRESTRICTED


	TOTAL EXPENDITURE: DIRECT STAFF COSTS DIRECT COSTS SUPPORT COSTS TOTAL 2021 TOTAL 2020 £ £ £ £ £ Cost of raising funds 175,170 10,943 2,680 188,793 225,920 Costs of raising tradingincome 166,133 12,063 19,406 197,602 207,324 Charitable activities 3,167,611 1,074,724 598,903 4,841,238 4,941,933 TOTAL EXPENDITURE 3,508,914 1,097,730 620,989 5,227,633 5,375,177


	SUPPORT COSTS INCLUDE: TOTAL 2021 TOTAL 2020 HR and support costs 214,248 324,203 Offce & premises costs 168,777 231,870 Communications and IT 95,073 148,987 Finance and Management costs 127,375 115,353 Governance Costs 15,516 16,020 TOTAL 620,989 836,433

Annual Report and Accounts 2020–21


	GOVERNANCE COSTS INCLUDE THE FOLLOWING COSTS: TOTAL 2021 TOTAL 2020 Audit and accountancy fees 13,737 13,589 AGM/Annual Conference - 13 Annual Report - 288 Trustee Training 1,672 99 Trustees’ expenses 107 2,031 TOTAL 15,516 16,020


NET INCOME FOR THE YEAR 2021 2020
THIS IS STATED AFTER CHARGING: NOTE £ £ Depreciation 8 37,736 38,253 Operating lease rental - land and buildings 18 113,800 76,386 Auditor’s remuneration: Current year audit fees 11,500 8,600 Current year non - audit fees 850 325 Trustees’ expenses 1,779 2,130
Current year audit fees	11,500	8,600
Current year non - audit fees	850	325
Trustees’ expenses	1,779	2,130

Trustees’ expenses during the year to 30 September 2021 represented travel and subsistence costs relating to attendance at meetings for four Trustees (2020: four).

Annual Report and Accounts 2020–21

6
	STAFF COSTS AND NUMBERS:	THE GROUP


2021 2020
EMPLOYEES EARNING ABOVE £60,000 AS FOLLOWS: No. No. £60,000 - £70,000 1 2 £80,000 - £90,000 2 1
EMPLOYEES EARNING ABOVE £60,000 AS FOLLOWS:	No.	No.
£60,000 - £70,000	1	2
£80,000 - £90,000	2	1

Employers pension contributions in respect of the 3 (2019: 2) employees were £13,548 (2020: £12,587).


2021 2020
THE AVERAGE WEEKLY NUMBER OF EMPLOYEES (FULL-TIME EQUIVALENT) DURING THE PERIOD WAS AS FOLLOWS: No. No. Support 7 9 Charitable activities 71 67 Cost of raising funds 3 3 Living Streets Services Limited 4 4 TOTAL 85 83
THE AVERAGE WEEKLY NUMBER OF EMPLOYEES (FULL-TIME EQUIVALENT) DURING THE PERIOD WAS AS FOLLOWS:	No.	No.
Support	7	9
Charitable activities	71	67
Cost of raising funds	3	3
Living Streets Services Limited	4	4
TOTAL	85	83

The average head count for the year was 96 (2020: 92).

The Key Management Personnel in charge of directing, controlling, running and operating the charity on a day-to-day basis comprise the Trustees together with the Interim Chief Executive, Director of Local Impact, Director of Finance and Resources, Director of Development, and Interim Director of Policy and Communications. The total remuneration payable to Key Management Personnel during the year was £450,043 (2020: £446,225).

Annual Report and Accounts 2020–21

7 TAXATION

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The subsidiary distributes profits to the charity so has no charge to corporation tax.

8 TANGIBLE FIXED ASSETS

	OFFICE
	THE GROUP AND CHARITY IT EQUIPMENT FURNITURE AND EQUIPMENT TOTAL COST £ £ £ At 1 October 2020 35,136 131,239 166,375 Additions 695 2,990 3,685 Disposals - - - At 30 September 2021 35,831 134,229 170,060 DEPRECIATION At 1 October 2020 24,214 68,092 92,306 Charge for the year 5,477 32,259 37,736 Disposals - - - At 30 September 2021 29,691 100,351 130,042 NET BOOK VALUE At 30 September 2021 6,140 33,878 40,018 At 30 September 2020 10,922 63,147 74,069

Annual Report and Accounts 2020–21


	2021 2020 THE GROUP AND CHARITY £ £ Market value at 1 October 2020 187,145 177,509 Unrealised gains 25,131 9,637 Market value at 30 September 2021 212,276 187,146 Historic cost of investments 59,734 59,734 M&G Charifund units 1,537 1,204 COIF Fixed Interest shares 23,205 24,574 COIF Accumulation shares 187,534 161,367 TOTAL 212,276 187,145 INVESTMENTS The above investment assets are all in the UK.

Annual Report and Accounts 2020–21

10 SUBSIDIARY UNDERTAKING

The charitable company owns the whole of the issued ordinary share capital of Living Streets Services Limited (Company number: 07471406), a company registered in England and Wales. The subsidiary is used primarily for non-primary purpose trading activities.

All activities have been consolidated on a line-by-line basis in the statement of financial activities. Available profits are distributed to the charitable company. A summary of the results of the subsidiary is shown below:


	2021 2020 £ £ Turnover 1,157,825 927,643 Cost of sales (658,470) (665,181) Gross proft 499,355 262,462 Administrative expenses (64,906) (30,838) Operating proft 434,449 231,624 Retained earnings at the beginning of the year 231,624 401,543 Distribution (231,624) (401,543) RETAINED PROFIT FOR THE FINANCIAL YEAR 434,449 231,624


2021 THE AGGREGATE OF THE ASSETS, LIABILITIES AND FUNDS WAS: 2020
£ £ Assets 627,447 346,696 Liabilities (192,998) (115,072) FUNDS 434,449 231,624
	£	£
Assets	627,447	346,696
Liabilities	(192,998)	(115,072)
FUNDS	434,449	231,624

The turnover and expenditure shown above includes all of the subsidiary’s trading activities. The turnover and expenditure shown within the consolidated statement of financial activities and notes to the accounts show the subsidiary’s results excluding the results of intercompany sales.

Company Registration number: 07471406

Annual Report and Accounts 2020–21

11 12 13	THE GROUP THE CHARITY
	DEBTORS 2021 2020 2021 2020 £ £ £ £ Trade debtors 409,964 170,519 256,167 108,760 Prepayments and other debtors 38,276 47,307 38,276 46,407 Rent deposit 39,869 39,869 39,869 39,869 Accrued income 194,716 137,981 194,716 137,981 Amount due from subsidiary undertaking - - 2,047 - TOTAL 682,825 395,676 531,075 333,017
	THE GROUP THE CHARITY
	STOCK 2021 2020 2021 2020 £ £ £ £ Stock & Work in Progress 113,688 120,288 33,449 14,628 Allowance for Obsolete Stock (22,706) (40,200) - - TOTAL 90,982 80,088 33,449 14,628 The value of stock recognised in the SOFA is £469,641 (2020: £398,002)
	THE GROUP THE CHARITY
	CASH AT BANK AND IN HAND 2021 2020 2021 2020 £ £ £ £ TOTAL 3,455,134 3,523,060 3,055,164 3,449,642

Annual Report and Accounts 2020–21

THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY

CREDITORS: AMOUNTS DUE WITHIN ONE YEAR 2021 2020 2021 2020 £ £ £ £ Trade creditors 107,175 190,427 36,354 145,722 Taxation and social security 106,503 110,287 106,503 110,287 Accruals 343,565 163,843 338,880 153,539 Amount due to subsidiary undertaking - - - 145,156 VAT Payable 31,825 22,756 19,443 22,741 Deferred income 86,916 155,645 - 95,600 TOTAL 675,984 642,958 501,180 673,045


THE GROUP THE CHARITY

DEFERRED INCOME 2021 2020 2021 2020 £ £ £ £ Opening deferred income 155,645 114,703 95,600 52,573 Deferred income released from previousyears (155,645) (114,703) (95,600) (52,573) Income deferred in the year 86,916 155,645 - 95,600 CLOSING DEFERRED INCOME 86,916 155,645 - 95,600

	£	£	£	£
Opening deferred income	155,645	114,703	95,600	52,573
Deferred income released from previousyears	(155,645)	(114,703)	(95,600)	(52,573)
Income deferred in the year	86,916	155,645	-	95,600
CLOSING DEFERRED INCOME	86,916	155,645	-	95,600

Deferred income relates to income received in advance for projects that are to be carried out in future periods.

Annual Report and Accounts 2020–21

THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY	THE GROUP THE CHARITY

PROVISIONS 2021 2020 2021 2020
£ £ £ £ Balance as at 1 October 2020 55,020 49,020 55,020 49,020 Released during year (22,591) - (22,591) - Provided for during year - 6,000 - 6,000 BALANCE CARRIED FORWARD AS AT 30 SEPTEMBER 2021 32,429 55,020 32,429 55,020
	£	£	£	£
Balance as at 1 October 2020	55,020	49,020	55,020	49,020
Released during year	(22,591)	-	(22,591)	-
Provided for during year	-	6,000	-	6,000
BALANCE CARRIED FORWARD AS AT 30 SEPTEMBER 2021	32,429	55,020	32,429	55,020

It is the charity’s policy to provide for dilapidations for the London office, and the value of this provision is based on an estimate of the management team and Trustees. This commitment is to be met in the final year of the property lease (in March 2023 for 2 America Square). An adjustment was made to reduce the provision following the report of the expert that was hired to carry out an assessment during the year.


	ANALYSIS OF NET ASSETS BETWEEN FUNDS RESTRICTED FUNDS DESIGNATED FUNDS GENERAL FUNDS 2021 TOTAL FUNDS 2020 TOTAL FUNDS £ £ £ £ £ Tangible fxed assets - - 40,018 40,018 74,069 Fixed asset investments - 152,542 59,734 212,276 187,145 Current assets 2,108,104 849,761 1,271,076 4,228,941 3,998,824 Liabilities - - (708,413) (708,413) (697,978) NET ASSETS AT THE END OF THE YEAR 2,108,104 1,002,303 662,415 3,772,822 3,562,060

Annual Report and Accounts 2020–21

MOVEMENTS IN FUNDS FOR THE YEAR ENDED 30 SEPTEMBER 2021

	AT THE INCOME EXPENDITURE GAINS ON TRANSFERS AT THE

	MOVEMENTS IN FUNDS START OF THE PERIOD INVESTMENTS BETWEEN FUNDS END OF THE PERIOD RESTRICTED FUNDS: £ £ £ £ £ £ Scottish Government Scotland WalkingNation 21,286 151,210 (172,496) - - - Cycling Scotland Social HousingFund 2020-21 - 25,000 (10,236) - - 14,764 Big Lottery Fund Walking Connects - Scotland 80,159 - (80,159) - - - Out and About, Smarter Choices Smarter Places 54,975 16,668 (71,643) - - - Access Fund 20-21 262,754 1,237,500 (1,500,254) - - - Walking Back To School 965,330 - (960,868) - - 4,462 Travel Tracker 19-20 22,297 - (20,304) - - 1,993 Walk To School Outreach 20-21 616,897 - (616,897) - - - City Bridge Trust 3,458 44,695 (42,751) - - 5,402 Local Cycling and Walking Infrastructure Plans (LCWIPs) 23,693 23,500 (46,500) - - 693 Walking Friends Wales 63,611 21,943 (80,480) 5,074 Cardiff Streets for Health 12,262 - (300) - - 11,962 Stars National Award Scheme - 70,000 (70,000) - - - Yn Awyr Agored Môn (Kyffn Williams WalkingTrail) - 10,000 (4,611) - - 5,389 Walk To School Outreach 2021-22 - 1,650,000 (148,800) 1,501,200 Walk To School Outreach Digital Project - 350,000 (14,400) - - 335,600 Walk To School Outreach – Slips, Trips and Falls Research Project - 100,000 (1,808) - - 98,192 Merton School Streetscapes - 50,263 (11,347) 38,916 Transport Scotland Inclusive Streets 2021-23 - 19,234 (3,934) - - 15,300 Social Housing Partnership Fund for Improved Cycling & Walking Facilities - 25,160 - - - 25,160 European Climate Foundation Grant - 20,153 - - - 20,153 Transport Scotland Walking Nation 2021-22 - 107,255 (83,411) 23,844 TOTAL RESTRICTED FUNDS 2,126,722 3,922,581 (3,941,199) - - 2,108,104

Annual Report and Accounts 2020–21


AT THE INCOME EXPENDITURE GAINS ON TRANSFERS AT THE
MOVEMENTS IN FUNDS START OF THE PERIOD INVESTMENTS BETWEEN FUNDS END OF THE PERIOD
UNRESTRICTED FUNDS: Designated funds: Development fund 136,053 - - (39,973) - - 96,080 Hardship fund 4,374 - - - - 4,374 Legacy Fund 100,000 - - - - 100,000 Stabilisation Fund 100,000 - - (693) - - 99,307 Revaluation reserve 127,411 25,131 - - - 152,542 Reserve Fund 550,000 - - - - 550,000 Total designated funds 1,017,838 25,131 (40,666) - - 1,002,303 General reserve 417,500 1,490,709 (1,245,768) - - 662,415 TOTAL UNRESTRICTED FUNDS 1,435,338 1,515,840 (1,286,434) - - 1,664,718 TOTAL FUNDS 3,562,060 5,438,421 (5,227,633) - - 3,772,822
Development fund	136,053	-	- (39,973)	-	-	96,080
Hardship fund	4,374	-	-	-	-	4,374
Legacy Fund	100,000	-	-	-	-	100,000
Stabilisation Fund	100,000	-	- (693)	-	-	99,307
Revaluation reserve	127,411	25,131	-	-	-	152,542
Reserve Fund	550,000	-	-	-	-	550,000
Total designated funds	1,017,838	25,131	(40,666)	-	-	1,002,303
General reserve	417,500	1,490,709	(1,245,768)	-	-	662,415
TOTAL UNRESTRICTED FUNDS	1,435,338	1,515,840	(1,286,434)	-	-	1,664,718
TOTAL FUNDS	3,562,060	5,438,421	(5,227,633)	-	-	3,772,822

MOVEMENTS IN FUNDS FOR THE YEAR ENDED 30 SEPTEMBER 2020

	AT THE INCOME EXPENDITURE GAINS ON TRANSFERS AT THE

	MOVEMENTS IN FUNDS START OF THE PERIOD INVESTMENTS BETWEEN FUNDS END OF THE PERIOD RESTRICTED FUNDS: £ £ £ £ £ £ Scottish Government Scotland WalkingNation 35,722 229,492 (243,929) - - 21,285 Housing Association Walking Project 16,915 - (16,915) - - - Big Lottery Fund Walking Con- nects - Scotland 109,391 110,634 (139,866) - - 80,159 Out and About, Smarter Choices Smarter Places - 92,999 (38,024) - - 54,975 Paths For All Walking Work- places for Wellbeing (3,491) 11,751 (8,260) - - - Walk To (Access Fund 17-20) 119,532 1,236,167 (1,355,699) - - - Walk To (Access Fund 20-21) - 1,237,500 (974,746) - - 262,754 Walking Back To School - 1,000,000 (34,670) - - 965,330 Walk To School Outreach 19-20 661,560 - (661,560) - - - Travel Tracker 19-20 48,774 - (26,477) - - 22,297 Walk To School Outreach 20-21 - 1,000,000 (383,103) 616,897 City Bridge Trust - 33,420 (29,962) - - 3,458 Local Cycling and Walking Infrastructure Plans(LCWIPs) 31,051 23,000 (30,358) - - 23,693 Walking Friends Wales (1,909) 180,774 (115,253) - - 63,612 Cardiff Streets for Health - 25,000 (12,738) 12,262 TOTAL RESTRICTED FUNDS 1,017,545 5,180,737 (4,071,560) - - 2,126,722

Annual Report and Accounts 2020–21

MOVEMENTS IN FUNDS FOR THE YEAR ENDED 30 SEPTEMBER 2020 Continued

	AT THE INCOME EXPENDITURE GAINS ON TRANSFERS AT THE

	MOVEMENTS IN FUNDS START OF THE PERIOD INVESTMENTS BETWEEN FUNDS END OF THE PERIOD UNRESTRICTED FUNDS: Designated funds: Development fund 275,846 - (139,793) - - 136,053 Hardship fund - 4,373 - - - 4,373 Legacy Fund - 100,000 - - - 100,000 Stabilisation Fund 100,000 - - - - 100,000 Revaluation reserve 117,776 - - 9,636 - 127,412 Reserve Fund 350,000 200,000 - - - 550,000 Total designated funds 843,622 304,373 (139,793) 9,636 - 1,017,838 General reserve 571,366 1,009,957 (1,163,823) - - 417,500 TOTAL UNRESTRICTED FUNDS 1,414,988 1,314,330 (1,303,616) 9,636 - 1,435,338 TOTAL FUNDS 2,432,533 6,495,067 (5,375,177) 9,636 - 3,562,060

17 MOVEMENTS IN FUNDS (CONTINUED)

Purposes of restricted funds

These are funds provided to undertake specific projects of work. Funds in deficit at the year-end will receive income in the following financial year. In the year to 30 September 2021 restricted funds included the following:

Scottish Government Scotland Walking

Nation - grant from Transport Scotland to promote and raise the profile of walking, the walking environment and the Scottish Government’s role, and deliver interventions to increase walking in schools and communities.

Housing Association Walking Project -

funding from Cycling Scotland through the Social Housing Partnership Fund for Improved Cycling & Walking Facilities to develop a methodology for and deliver audits in partnership with Housing Associations to identify potential improvements to the walking environment.

Big Lottery Fund Walking Connects

(Scotland) - a development grant from the Big Lottery’s Accelerating Ideas fund to explore options and to improve older people’s wellbeing through walking, by engaging them in the process of improving their walking environment, breaking down perceptions around the ability to walk and enabling them to walk more.

Out and About - funded by Smarter Choices Smarter Places Open Fund (Paths for All) with match funding from The National Lottery to work in partnership with older people to increase wellbeing through walking and promoting sustainable travel for everyday journeys.

Paths For All Walking Workplaces for

Wellbeing - funding from the Paths for All Smarter Choices, Smarter Places Open Fund to engage 2,900 employees of Standard Life Assurance Limited in Edinburgh in awareness raising and behaviour change activities to promote walking.

Annual Report and Accounts 2020–21

Walk To (Access Fund 20-21) - continuation funding received from Department for Transport to deliver an additional year of our Walk To project on behalf of a consortium of 10 local authorities led by Blackpool Council delivering a programme of work with primary schools, post primary institutions and workplaces.

Walking Back to School - funding received from Department for Transport to expand the existing Walk to School Outreach project within existing and new partner authorities with an additional 250 primary schools and support additional back to school comms and activities following the summer term lockdown.

Travel Tracker 19-20 - funding from Department for Transport for the development of a white-label Travel Tracker monitoring tool.

Walk To School Outreach 19-20 - funding received from Department for Transport to continue and extend the delivery of Walk to School outreach activities with 405 primary schools in six partner local and combined transport authorities.

Walk To School Outreach 20-21 - funding received from Department for Transport to continue and extend the delivery of Walk to School outreach activities with 485 primary schools in six partner local and combined transport authorities.

City Bridge Trust - a grant to address barriers to walking for older people in Redbridge, Havering, Barking & Dagenham.

Local Cycling and Walking Infrastructure Plans (LCWIPs) - funding from Sustrans as lead for a consortium funded by the Department for Transport to provide specialist support to local authorities on embedding Local Cycling and Walking Infrastructure Plans (LCWIPs) within local strategies and delivery plans.

Walking Friends Wales - funding from the Sport Wales Healthy and Active Fund to enable older people aged 50+ to increase activity through walking and taking part in led group walks.

Cardiff Streets for Health - funding from Cardiff City Council to work in five neighbourhoods in Cardiff engaging local communities in re-imagining their streets.

Purposes of designated funds - the funds that the Trustees have set aside for a specific purpose.

Stabilisation fund - denotes amount set aside to facilitate a smooth transition from the end of the current funding cycle to the next.

Development fund - represents funds set aside to spend on designated projects in the period to end September 2022, comprising a comprehensive upgrade of IT systems, new CRM, income diversification study, enhanced membership and supporter assistance and development of Living Streets work in Wales.

Hardship fund - fund set aside to support staff wellbeing during the Covid 19 pandemic.

Legacy fund - received from the estate of a committee member which is set aside for training and development of our future pool of young diverse talents in the organisation. This fund is expected to be fully utilised by the end of September 2022.

Revaluation reserve - represents the unrealised gain included within investments.

Reserve fund - denotes the amount prudently set aside to enable an orderly winding up of the charity’s affairs in the unlikely event this should be required.

Annual Report and Accounts 2020–21

18 OPERATING LEASE COMMITMENTS

At 30 September the charity had the following total minimum lease payments under non-cancellable operating leases:

	LAND AND BUILDINGS	LAND AND BUILDINGS

	OPERATING LEASES WHICH EXPIRE: 2021 2020
	£ £ Within one year 113,800 113,800 After one but within two years 50,508 113,800 After two years - 50,508 TOTAL 164,308 278,108
	Within one year	113,800
	After one but within two years	50,508
	After two years	-
	TOTAL	164,308

The value of lease payments recognised as expenditure in the SOFA is £113,800 (2020: £76,386). The current office lease for the London office will expire on 11th March 2023.

19 RELATED PARTY TRANSACTIONS

Living Streets Services Ltd (Company Registration number 07471406) is a wholly owned subsidiary of Living Streets. The subsidiary sold goods worth £866,721 (2020: £681,522) to the charity on normal commercial terms and reported a profit of £434,449 on all its activities in the year to 30 September 2021 (2020: £231,624). An amount of £2,047 is due from the subsidiary while in 2020, £145,156 was owed to the subsidiary at year-end.

Annual Report and Accounts 2020–21

20 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

30 SEPTEMBER 2021 (incorporating an income and expenditure account)


	INCOME FROM: RESTRICTED UNRESTRICTED 2021 £ £ £ Donations and legacies 70,000 224,064 294,064 Charitable activities 3,852,581 974,431 4,827,012 Activities for raising funds - 291,103 291,103 Investment income - 1,085 1,085 TOTAL INCOME 3,922,581 1,490,683 5,413,264


EXPENDITURE RAISING FUNDS: Costs of raising income - 188,792 188,792 Costs of raising trading income - 197,601 197,601 Charitable activities 3,941,199 900,041 4,841,240 TOTAL EXPENDITURE 3,941,199 1,286,434 5,227,633



Net gains/(losses) on investment	-	25,131	25,131
NET MOVEMENT IN FUNDS	(18,618)	229,380	210,762
TOTAL FUNDS BROUGHT FORWARD	2,126,722	1,435,338	3,562,060
TOTAL FUNDS CARRIED FORWARD	2,108,104	1,664,718	3,772,821

LIVINGSTREETS.ORG.UK INFO@LIVINGSTREETS.ORG.UK CALL: 020 7377 4900

Living Streets (The Pedestrians’ Association) is a Registered Charity No. 1108448 (England and Wales) and SC039808 (Scotland), Company Limited by Guarantee (England & Wales), Company Registration No. 5368409. Registered office America House, 2 America Square, London, EC3N 2LU.

ANNUAL REPORT & ACCOUNTS 2020–21

WELCOME FROM THE CHAIR

WELCOME FROM THE INTERIM CEO

CONTENTS

OUR IMPACT 2021

WHO WE ARE

OUR VISION

OUR MISSION

WALK WITH US

PEOPLE CHOOSE WALKING

BETTER STREETS FOR WALKING

ALL WALKS OF LIFE

1 SPEAK UP

WE WILL BE MORE VOCAL AND AMBITIOUS ON:

WHAT WE WANT TO ACHIEVE:

SECURE MORE INVESTMENT IN WALKING

ENSURE HIGHWAY CODE REVISIONS PUT PEOPLE FIRST AND SECURE A BAN ON PAVEMENT PARKING IN ENGLAND

GROW PUBLIC AND POLITICAL PROFILE TO ENSURE ELECTION CANDIDATES SUPPORT LIVING STREETS’ WALKING MANIFESTO AND IMPLEMENT IT

AMPLIFY DIVERSE VOICES ON THE BENEFITS OF WALKING TO CREATE SAFER STREETS

LIVING STREETS AT COP26

2 STEP UP

WE WILL SCALE UP FOR WALKING BY:

WHAT WE WANT TO ACHIEVE:

ENSURE LIVING STREETS SERVICES’ OPERATIONS SUPPORT SCALING UP, BOTH ACROSS THE SUPPLY CHAIN AND THROUGH EFFECTIVE SYSTEMS

GROW OUR LOCAL GROUP AND SUPPORTER NETWORKS AND INCOME, TARGETING A MORE DIVERSE MEMBERSHIP WHICH REFLECTS THE COMMUNITIES WE SERVE

ENSURE A SCALABLE APPROACH TO PROJECT MODELS, GROWING OUR WALK TO SCHOOL AND STREETS WORK

#WALKINGFROMHOME

WALK TO EXTENSION

Through this project:

WALK TO SCHOOL OUTREACH AND WALKING BACK TO SCHOOL

Through this project:

3 STAY STRONG

WE WILL BE A SUSTAINABLE ORGANISATION THROUGH:

SECURE CONTINUED FUNDING FOR MAJOR PROJECTS AND INCOME SOURCES, AIMING FOR EXPANSION AND DIVERSIFICATION

MAJOR FUNDERS

WE WILL ACHIEVE THIS BY:

STATUTORY GRANTS AND CONTRACTS

TRUSTS, FOUNDATIONS AND LOTTERY

INDIVIDUAL GIVING

3 STAY STRONG

DELIVER A NEW CUSTOMER

IMPLEMENT EQUALITY AND DIVERSITY FRAMEWORK AND DEVELOP A SUSTAINABILITY FRAMEWORK

LOOKING AHEAD

THANKS TO PARTNERS

Thank you as well to all our other partners who supported our work.

FINANCIAL REVIEW

OUR FINANCIAL PERFORMANCE IN 2020/2021

FUNDING

FUNDING CONTINUED

CASH BALANCES

STAFF

THE FUTURE

ASSESSMENT OF FINANCIAL RISK

At 30 September 2021 the principal risks were:

OUR RESERVES POLICY

OUR INVESTMENT POLICY

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

CHARITY GOVERNANCE CODE

TRUSTEE INDUCTION AND TRAINING

RECRUITMENT AND APPOINTMENT OF TRUSTEES AND CHIEF EXECUTIVE OFFICER

CONFLICTS OF INTEREST

ROLE OF THE TRUSTEES

REMUNERATION

GENDER PAY GAP

SUSTAINABILITY REPORT

PUBLIC BENEFIT

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

AUDITORS

Dame Jane Roberts

REPORT AND FINANCIAL STATEMENTS

30 SEPTEMBER 2021

CONTENTS

REFERENCE AND ADMINISTRATIVE DETAILS

INDEPENDENT AUDITOR’S REPORT

In our opinion the financial statements:

BASIS FOR OPINION

CONCLUSIONS RELATING TO GOING CONCERN

OTHER INFORMATION