Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Company registration number: 05115873 Charity registration number: 1108606
Play Inclusion Project (PIP)
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Contents
| Trustees' Report | 1 to 6 |
|---|---|
| Accountants' Report | 7 |
| Independent Examiner's Report | 8 to 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 to 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 to 23 |
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.
Objectives and activities
Objects and aims
The charity’s mission statement is to ‘promote the social inclusion of children and young people with additional needs and disabilities within their local community’.
The aims of the charity are:
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To give social experiences to children and young people with additional needs and disabilities
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To promote the involvement of children and young people with additional needs and disabilities within their
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local community
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To provide appropriate leisure and social activities for children and young people with additional needs and
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disabilities
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To raise awareness of the needs of children and young people with additional needs and disabilities, therefore fostering a more diverse inclusive society
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To promote understanding and acceptance of disability
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To provide respite for parents and carers
Significant activities
Play Inclusion Project had another extremely successful year financially. An increase in demand for services and income, led to an expansion of provision in both Wyre and Preston. The demand for both Break Time and Break Time Plus activities increased continually throughout the year. New Area Managers were recruited and we began to deliver two holiday clubs each school holiday period in both Wyre and Preston, one for 4-9 year olds and one for 10-18 year olds.
The new Break Time contract we secured last year has brought several challenges. Being awarded 78 hours to access activities throughout the year has proved problematic for some families. Children have not been able to attend all the sessions they would like or been able to have the routine and consistency they need due to their support needs. Registering for the 78 hours and having all new families being awarded the hours at the same time has led to an influx of new referrals all at once. This has proved challenging for the Area Managers as the referral process can be lengthy and they are having to settle all children into activities at once. These issues are continually raised with Lancashire council by our CEO.
An influx of Break Time Plus referrals were received from social workers for children with assessed needs to access our activities. Break Time Plus funding involves Play Inclusion Project entering into an individual contract for each child referred and committing to provide the sessions allocated by the social worker. By the end of the year 28 children were accessing via a commissioned contract with Lancashire County Council.
This year we continued to be a HAF delivery partner in Preston, Fylde and Wyre. Again, the demand for places has increased throughout the year and we found we were unable to meet demand due to restricted funding.
Additional funding was sought and secured from Blackpool Council to cover the cost of wage rises and also to solve an issue with staff retention. The additional funding enabled the weekend club to run every Saturday which increased capacity and enabled more children and young people to attend.
In October we held our annual trip through Blackpool Illuminations on a heritage tram. Once again this was an extremely popular event and was enjoyed by all who attended.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Use of volunteers
The charity continues to be less dependent on volunteers as increased funding enables Support Staff to be employed to meet the individual support needs of the children and young people who attend our sessions.
We do have a small dedicated team of volunteers, and we would like to thank them for their support and commitment. Our volunteers add value in terms of time and through the care, skills, knowledge and experience they bring to their role as Voluntary Support Workers.
Fundraising Events
In September a fundraising committee was formed and they hit the ground running and held their first event, Winter Wonderland in December. The event was held at St Teresa’s church hall and we had stalls, raffles, games, a performance from Lytham Choir and a meet and greet with Elsa. The event was a huge success and raised £1,171.50.
Collection tins were distributed at various locations and online fundraising came from Give as You Live, PayPal and Amazon.
Donations
Donations were received from ZX Digital, Glasdon, Fylde Golf Club, The Rank Foundation, Warren Farn Community Association, Steel Connections and The Shepherd Street Trust. These donations were used for activities and resources across all areas.
Achievements and performance
Funding secured this year enabled Play Inclusion Project to expand its services. Five holiday clubs per school holiday period, two weekend clubs and five weekly activities were delivered within Blackpool, Preston, Fylde and Wyre. We would like to thank all our funders for their support, without which Play Inclusion Project would not be able to provide the service and activities we offer. Many children and young people have been able to access social and leisure activities and parents and carers have received a quality short break because of this support.
Financial review
The Charity continues to rely heavily on charitable donations and grants provided by Local Authorities and other funding bodies to help pay for staff, running costs and costs associated with delivering activities.
The charity continues to be more financially sustainable though increased funding levels and in particular Break Time Plus funding. Families are now able to access our Break Tim Plus activities either through commissioning from a social worker or via their social care packages. Break Time Plus activities accessed via direct payments cost £14.31 per hour session cost with an additional charge of £10.18 per hour for one-to-one support. Our parental contributions remained the same with weekly activities costing £5.00 per session and holiday and weekend clubs costing £15.00 per session.
The funding arrangements with Lancashire County Council for Break Time sessions sees the charity get paid following delivery. However, Break Time Plus invoices are paid every 4 weeks and those along with the Blackpool Council funding being paid on a monthly basis have improved the monthly cash flow.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Policy on reserves
The charity is working towards unrestricted funds that equate to three months costs plus the cost of closure. The trustees consider the level of unrestricted income each year. Reserves are required to meet the working capital requirements of the charity and to fund existing projects. Unrestricted funds at 31st March 2024 have decreased from £36,044 to £19,180.
Income generated was £497,531. The charity is trying to help more children and young adults which is in line with our mission statement to ‘promote the social inclusion of children and young people with additional needs and disabilities within their local community’. A deficit of £12,010 in the year was deducted from our reserves.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Principal funding sources
Blackpool Borough Council - Short Breaks
This funding enabled us to provide Short Break activities during school holidays and on Saturdays for 8-18year olds with severe and complex disabilities. During the Christmas holidays the clubs moved to Mereside Community Centre. A transitional process was planned and carried out for the children and young people. It didn’t take long for them all to settled in to their new venue which now has a more relaxed, youth club feel about it. All referrals come from the Social Care Team and trips enjoyed by the children and young people this year included Play Factore, shopping at The Trafford Centre, Sandcastle Waterpark and The Space Centre.
Throughout the year 37 children accessed our Weekend and Holiday Clubs.
Lancashire County Council - Break Time and Break time Plus
This funding enabled us to provide Short Break activities during school holidays in Wyre and Preston for 4-18year olds with additional needs and disabilities. The Activity Clubs were based at the United Reform Church Hall in Fleetwood, and across various venues in Preston and included both in house activities and trips within the local community. Trips enjoyed by the children and young people this year included Williamson Park, Liverpool Museum, Chill Factore, Blackpool Zoo, Pleasure Land, Ninja Warrior and Raven Tree Top aerial adventure.
Throughout the year our Break Time activities were attended regularly by 119 children.
Break Time and Break Time Plus also funded weekly activities in Preston, Fylde and Wyre. Throughout the year two weekly youth clubs were delivered in Wyre and a youth club and two sensory sessions at The Space Centre along with tea at McDonalds was delivered in Preston. A weekly youth club was delivered in Fylde which was based at St Cuthbert’s Parish Centre. All of the weekly activities were for 4-18year olds with additional needs and disabilities.
By the end of the year 38 children across Fylde, Wyre and Preston were accessing Break Time Plus activities.
HAF
The Holiday and Food programme (HAF) is a national programme that provides funding for activities and food to children living or attending school in Fylde, Wyre and Preston. This funding enabled us to provide subsidised places at the Easter, Summer and Christmas holiday clubs for children and young people in receipt of benefit related free school meals. The costs of trips and activities for those attending through the HAF programme were also covered by the funding and a £5.00 food subsidy was paid to parents for the days their child attended.
Throughout the year we were able to offer 470 HAF places to 70 children and young people.
Wyre Council
Wyre Council provided funding for us to deliver a Weekend Club based at Fleetwood YMCA on alternate Saturdays, for 8-18year olds with additional needs and disabilities living in Wyre. The session involved a swim session in the morning and games, arts and crafts and free play were available in the afternoons.
The sessions were attended regularly by 28 children and young people.
Sign High Say Hi!
We delivered activities on behalf of Sign Hi Say Hi! for deaf children and their families throughout various venues in Blackpool, Fylde and Wyre.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Reference and Administrative Details
Charity Registration Number: 1108606 Company Registration Number: 05115873 The charity is incorporated in England & Wales. Registered Office: Office 1 & 2, 13-15 Preston Street Fleetwood Lancashire FY7 6JA Independent Examiner: Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP Accountants: Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mrs Pamela Margaret Ogden (resigned 15 March 2024) Mrs Carol Ann Gradwell Mr Ian Christopher Harrison Mrs Gaynor Hope (appointed 18 March 2024)
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The main cashflow risk relates to the availablity of grant funding which is applied for each year. The risk is that one of the grant providers does not offer funds. The charity limits this risk by obtaining funds from multiple sources as listed earlier in this report. The charity also conducts fund raising activites to help cashflow.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Credit risk
The charity’s principal financial assets are bank balances and cash.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
Liquidity risk
The charity does not have debtors or high stock levels. All activities are planned and costed based on available grant funding to mitigate liquidity risk.
Statement of trustees' responsibilities
The trustees (who are also the directors of Play Inclusion Project (PIP) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 4 December 2024 and signed on its behalf by:
......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee
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Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Play Inclusion Project (PIP) for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Play Inclusion Project (PIP) for the year ended 31 March 2024 as set out on pages 10 to 23 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Play Inclusion Project (PIP), as a body, in accordance with the terms of our engagement letter dated 15 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Play Inclusion Project (PIP) and state those matters that we have agreed to state to the board of directors of Play Inclusion Project (PIP), as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Play Inclusion Project (PIP) and its board of directors as a body for our work or for this report.
It is your duty to ensure that Play Inclusion Project (PIP) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Play Inclusion Project (PIP). You consider that Play Inclusion Project (PIP) is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Play Inclusion Project (PIP). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
[ ...................................... RenetyC7833CADD1DD423... by:
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP 4 December 2024
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Independent Examiner's Report to the trustees of Play Inclusion Project (PIP) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Independent Examiner's Report to the trustees of Play Inclusion Project (PIP) ('the Company')
Independent examiner’s statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Play Inclusion Project (PIP) as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Joseph Tantram c/o Rawcliffe and Co Limited Chartered Accountants ICAEW
Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
4 December 2024
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Other income Total income Expenditure on: Raising funds Other expenditure 5 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Other income Total income Expenditure on: Other expenditure 5 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 433,904 63,303 324 497,531 (738) (513,657) (514,395) (16,864) (16,864) 36,044 19,180 Unrestricted funds £ 316,503 63,198 79 379,780 (370,088) (370,088) 9,692 9,692 26,352 36,044 |
Restricted funds £ 9,509 - - 9,509 - (4,655) (4,655) 4,854 4,854 738 5,592 Restricted funds £ - - - - (246) (246) (246) (246) 984 738 |
Total 2024 £ 443,413 63,303 324 |
|---|---|---|---|
| 507,040 | |||
| (738) (518,312) |
|||
| (519,050) | |||
| (12,010) | |||
| (12,010) 36,782 |
|||
| 24,772 | |||
| Total 2023 £ 316,503 63,198 79 |
|||
| 379,780 | |||
| (370,334) | |||
| (370,334) | |||
| 9,446 | |||
| 9,446 27,336 |
|||
| 36,782 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14.
The notes on pages 14 to 23 form an integral part of these financial statements. Page 10
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
(Registration number: 05115873 ) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand 11 Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2024 £ 3,440 630 32,229 32,859 (11,527) 21,332 24,772 5,592 19,180 24,772 |
2023 £ 1,909 445 45,630 |
|---|---|---|
| 46,075 (11,202) |
||
| 34,873 | ||
| 36,782 | ||
| 738 36,044 |
||
| 36,782 |
The notes on pages 14 to 23 form an integral part of these financial statements. Page 11
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
(Registration number: 05115873 ) Balance Sheet as at 31 March 2024
For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 10 to 23 were approved by the trustees, and authorised for issue on 4 December 2024 and signed on their behalf by:
......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee
The notes on pages 14 to 23 form an integral part of these financial statements. Page 12
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Statement of Cash Flows for the Year Ended 31 March 2024
| Note Cash flows from operating activities Net cash (expenditure)/income Adjustments to cash flows from non-cash items Depreciation 5 Working capital adjustments Increase in debtors 10 Increase in creditors 12 Net cash flows from operating activities Cash flows from investing activities Purchase of tangible fixed assets 9 Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March |
2024 £ (12,010) 1,146 (10,864) (185) 325 (10,724) (2,677) (13,401) 45,630 32,229 |
2023 £ 9,446 637 |
|---|---|---|
| 10,083 (1) 3,324 |
||
| 13,406 (628) |
||
| 12,778 32,852 |
||
| 45,630 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 23 form an integral part of these financial statements. Page 13
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Office 1 & 2, 13-15 Preston Street Fleetwood Lancashire FY7 6JA
These financial statements were authorised for issue by the trustees on 4 December 2024.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Play Inclusion Project (PIP) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Fixtures and fittings
Depreciation method and rate 25% reducing balance
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 17
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 18
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 19
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Grants, including capital grants; Government grants Other income from donations and legacies |
Unrestricted funds General £ 28,527 404,931 446 433,904 |
Restricted funds £ - 9,509 - 9,509 |
Total 2024 £ 28,527 414,440 446 443,413 |
Total 2023 £ 16,357 299,974 172 |
|---|---|---|---|---|
| 316,503 |
4 Income from other trading activities
| Other income from other trading activities Total for 2024 Total for 2023 |
Unrestricted funds General £ 63,303 63,303 63,198 |
Total funds £ 63,303 |
|---|---|---|
| 63,303 | ||
| 63,198 |
Page 20
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Other expenditure
| Note Staff costs Wages and salaries Social security Pension costs Other staff costs Depreciation, amortisation and other similar costs Total for 2024 Total for 2023 6 Net incoming/outgoing resources Net (outgoing)/incoming resources for the year include: Depreciation of fixed assets 7 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs |
Unrestricted funds General £ 384,132 12,201 4,491 3,398 962 405,184 285,390 |
Restricted funds £ 977 - - - 184 1,161 246 2024 £ 1,146 2024 £ 385,109 12,201 4,491 3,398 405,199 |
Total funds £ 385,109 12,201 4,491 3,398 1,146 |
|---|---|---|---|
| 406,345 | |||
| 285,636 | |||
| 2023 £ 637 |
|||
| 2023 £ 266,361 8,620 3,279 6,739 |
|||
| 284,999 |
Page 21
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Average number of employees | 2024 No 75 |
2023 No 49 |
|---|---|---|
10 (2023 - 10) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £4,491 (2023 - £3,279).
No employee received emoluments of more than £60,000 during the year.
8 Taxation
The charity is a registered charity and is therefore exempt from taxation.
9 Tangible fixed assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 10 Debtors Prepayments 11 Cash and cash equivalents Cash at bank Page 22 |
Furniture and equipment £ 15,814 2,677 |
Total £ 15,814 2,677 18,491 13,905 1,146 15,051 3,440 1,909 2023 £ 445 |
|
|---|---|---|---|
| 18,491 | |||
| 13,905 1,146 |
|||
| 15,051 | |||
| 3,440 | |||
| 1,909 | |||
| 2024 £ 630 2024 £ 32,229 |
|||
| 2023 £ 45,630 |
|||
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Pension scheme creditor Accruals |
2024 £ 640 4,659 280 2,108 3,840 11,527 |
2023 £ - 4,361 788 1,893 4,160 |
|---|---|---|
| 11,202 |
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,491 (2023 - £3,279).
14 Funds
| Unrestricted funds General Restricted funds Total funds Unrestricted funds General Restricted funds Total funds |
Balance at 1 April 2023 £ 36,044 738 36,782 Balance at 1 April 2022 £ 26,352 984 27,336 |
Incoming resources £ 497,531 9,509 507,040 Incoming resources £ 379,780 - 379,780 |
Resources expended £ (514,395) (4,655) (519,050) Resources expended £ (370,088) (246) (370,334) |
Balance at 31 March 2024 £ 19,180 5,592 |
|---|---|---|---|---|
| 24,772 | ||||
| Balance at 31 March 2023 £ 36,044 738 |
||||
| 36,782 |
Page 23
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Company registration number: 05115873 Charity registration number: 1108606
Play Inclusion Project (PIP)
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Contents
| Trustees' Report | 1 to 6 |
|---|---|
| Accountants' Report | 7 |
| Independent Examiner's Report | 8 to 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 to 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 to 23 |
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.
Objectives and activities
Objects and aims
The charity’s mission statement is to ‘promote the social inclusion of children and young people with additional needs and disabilities within their local community’.
The aims of the charity are:
-
To give social experiences to children and young people with additional needs and disabilities
-
To promote the involvement of children and young people with additional needs and disabilities within their
-
local community
-
To provide appropriate leisure and social activities for children and young people with additional needs and
-
disabilities
-
To raise awareness of the needs of children and young people with additional needs and disabilities, therefore fostering a more diverse inclusive society
-
To promote understanding and acceptance of disability
-
To provide respite for parents and carers
Significant activities
Play Inclusion Project had another extremely successful year financially. An increase in demand for services and income, led to an expansion of provision in both Wyre and Preston. The demand for both Break Time and Break Time Plus activities increased continually throughout the year. New Area Managers were recruited and we began to deliver two holiday clubs each school holiday period in both Wyre and Preston, one for 4-9 year olds and one for 10-18 year olds.
The new Break Time contract we secured last year has brought several challenges. Being awarded 78 hours to access activities throughout the year has proved problematic for some families. Children have not been able to attend all the sessions they would like or been able to have the routine and consistency they need due to their support needs. Registering for the 78 hours and having all new families being awarded the hours at the same time has led to an influx of new referrals all at once. This has proved challenging for the Area Managers as the referral process can be lengthy and they are having to settle all children into activities at once. These issues are continually raised with Lancashire council by our CEO.
An influx of Break Time Plus referrals were received from social workers for children with assessed needs to access our activities. Break Time Plus funding involves Play Inclusion Project entering into an individual contract for each child referred and committing to provide the sessions allocated by the social worker. By the end of the year 28 children were accessing via a commissioned contract with Lancashire County Council.
This year we continued to be a HAF delivery partner in Preston, Fylde and Wyre. Again, the demand for places has increased throughout the year and we found we were unable to meet demand due to restricted funding.
Additional funding was sought and secured from Blackpool Council to cover the cost of wage rises and also to solve an issue with staff retention. The additional funding enabled the weekend club to run every Saturday which increased capacity and enabled more children and young people to attend.
In October we held our annual trip through Blackpool Illuminations on a heritage tram. Once again this was an extremely popular event and was enjoyed by all who attended.
Page 1
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Use of volunteers
The charity continues to be less dependent on volunteers as increased funding enables Support Staff to be employed to meet the individual support needs of the children and young people who attend our sessions.
We do have a small dedicated team of volunteers, and we would like to thank them for their support and commitment. Our volunteers add value in terms of time and through the care, skills, knowledge and experience they bring to their role as Voluntary Support Workers.
Fundraising Events
In September a fundraising committee was formed and they hit the ground running and held their first event, Winter Wonderland in December. The event was held at St Teresa’s church hall and we had stalls, raffles, games, a performance from Lytham Choir and a meet and greet with Elsa. The event was a huge success and raised £1,171.50.
Collection tins were distributed at various locations and online fundraising came from Give as You Live, PayPal and Amazon.
Donations
Donations were received from ZX Digital, Glasdon, Fylde Golf Club, The Rank Foundation, Warren Farn Community Association, Steel Connections and The Shepherd Street Trust. These donations were used for activities and resources across all areas.
Achievements and performance
Funding secured this year enabled Play Inclusion Project to expand its services. Five holiday clubs per school holiday period, two weekend clubs and five weekly activities were delivered within Blackpool, Preston, Fylde and Wyre. We would like to thank all our funders for their support, without which Play Inclusion Project would not be able to provide the service and activities we offer. Many children and young people have been able to access social and leisure activities and parents and carers have received a quality short break because of this support.
Financial review
The Charity continues to rely heavily on charitable donations and grants provided by Local Authorities and other funding bodies to help pay for staff, running costs and costs associated with delivering activities.
The charity continues to be more financially sustainable though increased funding levels and in particular Break Time Plus funding. Families are now able to access our Break Tim Plus activities either through commissioning from a social worker or via their social care packages. Break Time Plus activities accessed via direct payments cost £14.31 per hour session cost with an additional charge of £10.18 per hour for one-to-one support. Our parental contributions remained the same with weekly activities costing £5.00 per session and holiday and weekend clubs costing £15.00 per session.
The funding arrangements with Lancashire County Council for Break Time sessions sees the charity get paid following delivery. However, Break Time Plus invoices are paid every 4 weeks and those along with the Blackpool Council funding being paid on a monthly basis have improved the monthly cash flow.
Page 2
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Policy on reserves
The charity is working towards unrestricted funds that equate to three months costs plus the cost of closure. The trustees consider the level of unrestricted income each year. Reserves are required to meet the working capital requirements of the charity and to fund existing projects. Unrestricted funds at 31st March 2024 have decreased from £36,044 to £19,180.
Income generated was £497,531. The charity is trying to help more children and young adults which is in line with our mission statement to ‘promote the social inclusion of children and young people with additional needs and disabilities within their local community’. A deficit of £12,010 in the year was deducted from our reserves.
Page 3
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Principal funding sources
Blackpool Borough Council - Short Breaks
This funding enabled us to provide Short Break activities during school holidays and on Saturdays for 8-18year olds with severe and complex disabilities. During the Christmas holidays the clubs moved to Mereside Community Centre. A transitional process was planned and carried out for the children and young people. It didn’t take long for them all to settled in to their new venue which now has a more relaxed, youth club feel about it. All referrals come from the Social Care Team and trips enjoyed by the children and young people this year included Play Factore, shopping at The Trafford Centre, Sandcastle Waterpark and The Space Centre.
Throughout the year 37 children accessed our Weekend and Holiday Clubs.
Lancashire County Council - Break Time and Break time Plus
This funding enabled us to provide Short Break activities during school holidays in Wyre and Preston for 4-18year olds with additional needs and disabilities. The Activity Clubs were based at the United Reform Church Hall in Fleetwood, and across various venues in Preston and included both in house activities and trips within the local community. Trips enjoyed by the children and young people this year included Williamson Park, Liverpool Museum, Chill Factore, Blackpool Zoo, Pleasure Land, Ninja Warrior and Raven Tree Top aerial adventure.
Throughout the year our Break Time activities were attended regularly by 119 children.
Break Time and Break Time Plus also funded weekly activities in Preston, Fylde and Wyre. Throughout the year two weekly youth clubs were delivered in Wyre and a youth club and two sensory sessions at The Space Centre along with tea at McDonalds was delivered in Preston. A weekly youth club was delivered in Fylde which was based at St Cuthbert’s Parish Centre. All of the weekly activities were for 4-18year olds with additional needs and disabilities.
By the end of the year 38 children across Fylde, Wyre and Preston were accessing Break Time Plus activities.
HAF
The Holiday and Food programme (HAF) is a national programme that provides funding for activities and food to children living or attending school in Fylde, Wyre and Preston. This funding enabled us to provide subsidised places at the Easter, Summer and Christmas holiday clubs for children and young people in receipt of benefit related free school meals. The costs of trips and activities for those attending through the HAF programme were also covered by the funding and a £5.00 food subsidy was paid to parents for the days their child attended.
Throughout the year we were able to offer 470 HAF places to 70 children and young people.
Wyre Council
Wyre Council provided funding for us to deliver a Weekend Club based at Fleetwood YMCA on alternate Saturdays, for 8-18year olds with additional needs and disabilities living in Wyre. The session involved a swim session in the morning and games, arts and crafts and free play were available in the afternoons.
The sessions were attended regularly by 28 children and young people.
Sign High Say Hi!
We delivered activities on behalf of Sign Hi Say Hi! for deaf children and their families throughout various venues in Blackpool, Fylde and Wyre.
Page 4
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Reference and Administrative Details
Charity Registration Number: 1108606 Company Registration Number: 05115873 The charity is incorporated in England & Wales. Registered Office: Office 1 & 2, 13-15 Preston Street Fleetwood Lancashire FY7 6JA Independent Examiner: Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP Accountants: Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mrs Pamela Margaret Ogden (resigned 15 March 2024) Mrs Carol Ann Gradwell Mr Ian Christopher Harrison Mrs Gaynor Hope (appointed 18 March 2024)
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The main cashflow risk relates to the availablity of grant funding which is applied for each year. The risk is that one of the grant providers does not offer funds. The charity limits this risk by obtaining funds from multiple sources as listed earlier in this report. The charity also conducts fund raising activites to help cashflow.
Page 5
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Trustees' Report
Credit risk
The charity’s principal financial assets are bank balances and cash.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
Liquidity risk
The charity does not have debtors or high stock levels. All activities are planned and costed based on available grant funding to mitigate liquidity risk.
Statement of trustees' responsibilities
The trustees (who are also the directors of Play Inclusion Project (PIP) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 4 December 2024 and signed on its behalf by:
......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee
Page 6
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Play Inclusion Project (PIP) for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Play Inclusion Project (PIP) for the year ended 31 March 2024 as set out on pages 10 to 23 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Play Inclusion Project (PIP), as a body, in accordance with the terms of our engagement letter dated 15 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Play Inclusion Project (PIP) and state those matters that we have agreed to state to the board of directors of Play Inclusion Project (PIP), as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Play Inclusion Project (PIP) and its board of directors as a body for our work or for this report.
It is your duty to ensure that Play Inclusion Project (PIP) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Play Inclusion Project (PIP). You consider that Play Inclusion Project (PIP) is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Play Inclusion Project (PIP). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
[ ...................................... RenetyC7833CADD1DD423... by:
Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP 4 December 2024
Page 7
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Independent Examiner's Report to the trustees of Play Inclusion Project (PIP) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Page 8
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Independent Examiner's Report to the trustees of Play Inclusion Project (PIP) ('the Company')
Independent examiner’s statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Play Inclusion Project (PIP) as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Joseph Tantram c/o Rawcliffe and Co Limited Chartered Accountants ICAEW
Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP
4 December 2024
Page 9
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Other income Total income Expenditure on: Raising funds Other expenditure 5 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Other income Total income Expenditure on: Other expenditure 5 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 433,904 63,303 324 497,531 (738) (513,657) (514,395) (16,864) (16,864) 36,044 19,180 Unrestricted funds £ 316,503 63,198 79 379,780 (370,088) (370,088) 9,692 9,692 26,352 36,044 |
Restricted funds £ 9,509 - - 9,509 - (4,655) (4,655) 4,854 4,854 738 5,592 Restricted funds £ - - - - (246) (246) (246) (246) 984 738 |
Total 2024 £ 443,413 63,303 324 |
|---|---|---|---|
| 507,040 | |||
| (738) (518,312) |
|||
| (519,050) | |||
| (12,010) | |||
| (12,010) 36,782 |
|||
| 24,772 | |||
| Total 2023 £ 316,503 63,198 79 |
|||
| 379,780 | |||
| (370,334) | |||
| (370,334) | |||
| 9,446 | |||
| 9,446 27,336 |
|||
| 36,782 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14.
The notes on pages 14 to 23 form an integral part of these financial statements. Page 10
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
(Registration number: 05115873 ) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand 11 Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2024 £ 3,440 630 32,229 32,859 (11,527) 21,332 24,772 5,592 19,180 24,772 |
2023 £ 1,909 445 45,630 |
|---|---|---|
| 46,075 (11,202) |
||
| 34,873 | ||
| 36,782 | ||
| 738 36,044 |
||
| 36,782 |
The notes on pages 14 to 23 form an integral part of these financial statements. Page 11
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
(Registration number: 05115873 ) Balance Sheet as at 31 March 2024
For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 10 to 23 were approved by the trustees, and authorised for issue on 4 December 2024 and signed on their behalf by:
......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee
The notes on pages 14 to 23 form an integral part of these financial statements. Page 12
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Statement of Cash Flows for the Year Ended 31 March 2024
| Note Cash flows from operating activities Net cash (expenditure)/income Adjustments to cash flows from non-cash items Depreciation 5 Working capital adjustments Increase in debtors 10 Increase in creditors 12 Net cash flows from operating activities Cash flows from investing activities Purchase of tangible fixed assets 9 Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March |
2024 £ (12,010) 1,146 (10,864) (185) 325 (10,724) (2,677) (13,401) 45,630 32,229 |
2023 £ 9,446 637 |
|---|---|---|
| 10,083 (1) 3,324 |
||
| 13,406 (628) |
||
| 12,778 32,852 |
||
| 45,630 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 23 form an integral part of these financial statements. Page 13
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Office 1 & 2, 13-15 Preston Street Fleetwood Lancashire FY7 6JA
These financial statements were authorised for issue by the trustees on 4 December 2024.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Play Inclusion Project (PIP) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 14
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Fixtures and fittings
Depreciation method and rate 25% reducing balance
Page 15
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 16
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 17
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 18
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 19
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Grants, including capital grants; Government grants Other income from donations and legacies |
Unrestricted funds General £ 28,527 404,931 446 433,904 |
Restricted funds £ - 9,509 - 9,509 |
Total 2024 £ 28,527 414,440 446 443,413 |
Total 2023 £ 16,357 299,974 172 |
|---|---|---|---|---|
| 316,503 |
4 Income from other trading activities
| Other income from other trading activities Total for 2024 Total for 2023 |
Unrestricted funds General £ 63,303 63,303 63,198 |
Total funds £ 63,303 |
|---|---|---|
| 63,303 | ||
| 63,198 |
Page 20
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Other expenditure
| Note Staff costs Wages and salaries Social security Pension costs Other staff costs Depreciation, amortisation and other similar costs Total for 2024 Total for 2023 6 Net incoming/outgoing resources Net (outgoing)/incoming resources for the year include: Depreciation of fixed assets 7 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs |
Unrestricted funds General £ 384,132 12,201 4,491 3,398 962 405,184 285,390 |
Restricted funds £ 977 - - - 184 1,161 246 2024 £ 1,146 2024 £ 385,109 12,201 4,491 3,398 405,199 |
Total funds £ 385,109 12,201 4,491 3,398 1,146 |
|---|---|---|---|
| 406,345 | |||
| 285,636 | |||
| 2023 £ 637 |
|||
| 2023 £ 266,361 8,620 3,279 6,739 |
|||
| 284,999 |
Page 21
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Average number of employees | 2024 No 75 |
2023 No 49 |
|---|---|---|
10 (2023 - 10) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £4,491 (2023 - £3,279).
No employee received emoluments of more than £60,000 during the year.
8 Taxation
The charity is a registered charity and is therefore exempt from taxation.
9 Tangible fixed assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 10 Debtors Prepayments 11 Cash and cash equivalents Cash at bank Page 22 |
Furniture and equipment £ 15,814 2,677 |
Total £ 15,814 2,677 18,491 13,905 1,146 15,051 3,440 1,909 2023 £ 445 |
|
|---|---|---|---|
| 18,491 | |||
| 13,905 1,146 |
|||
| 15,051 | |||
| 3,440 | |||
| 1,909 | |||
| 2024 £ 630 2024 £ 32,229 |
|||
| 2023 £ 45,630 |
|||
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Pension scheme creditor Accruals |
2024 £ 640 4,659 280 2,108 3,840 11,527 |
2023 £ - 4,361 788 1,893 4,160 |
|---|---|---|
| 11,202 |
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,491 (2023 - £3,279).
14 Funds
| Unrestricted funds General Restricted funds Total funds Unrestricted funds General Restricted funds Total funds |
Balance at 1 April 2023 £ 36,044 738 36,782 Balance at 1 April 2022 £ 26,352 984 27,336 |
Incoming resources £ 497,531 9,509 507,040 Incoming resources £ 379,780 - 379,780 |
Resources expended £ (514,395) (4,655) (519,050) Resources expended £ (370,088) (246) (370,334) |
Balance at 31 March 2024 £ 19,180 5,592 |
|---|---|---|---|---|
| 24,772 | ||||
| Balance at 31 March 2023 £ 36,044 738 |
||||
| 36,782 |
Page 23
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Other income (analysed below) Total income Expenditure on: Raising funds (analysed below) Other expenditure (analysed below) Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2024 £ 443,413 63,303 324 507,040 (738) (518,312) (519,050) (12,010) (12,010) 36,782 24,772 |
Total 2023 £ 316,503 63,198 79 |
|---|---|---|
| 379,780 | ||
| - (370,334) |
||
| (370,334) | ||
| 9,446 | ||
| 9,446 27,336 |
||
| 36,782 |
This page does not form part of the statutory financial statements. Page 24
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Donations and legacies Donations received Miscellaneous income received Grants - councils Grants - restricted Other trading activities Activity club receipts Other income Bank interest receivable Raising funds Fundraising expense Other expenditure Wages and salaries - restricted Wages and salaries Staff NIC (Employers) Staff pensions (Defined contribution) Staff training Staff welfare Rent Insurance Telephone and fax Office expenses Computer software and maintenance costs Office - other Scheme activities Scheme activities - restricted Cleaning & Hygiene supplies Motor & travel expenses Advertising Accountancy & payroll fees Employment advice Bank charges Depreciation of fixtures and fittings (owned) |
Total 2024 £ 28,527 446 404,931 9,509 443,413 63,303 63,303 324 324 (738) (738) (977) (384,132) (12,201) (4,491) (1,102) (2,296) (11,156) (4,228) (2,599) (1,935) (876) (1,545) (49,853) (3,494) (1,017) (26,959) (20) (3,840) (4,371) (60) (962) |
Total 2023 £ 16,357 172 299,974 - |
|---|---|---|
| 316,503 | ||
| 63,198 | ||
| 63,198 | ||
| 79 | ||
| 79 | ||
| - | ||
| - | ||
| - (266,361) (8,620) (3,279) (5,024) (1,715) (9,984) (3,294) (1,861) (1,320) (372) (698) (39,342) - (1,098) (18,504) (313) (3,792) (4,058) (62) (391) |
This page does not form part of the statutory financial statements. Page 25
Docusign Envelope ID: 5F55CA0C-7718-4A3C-8189-9CA35490FB00
Play Inclusion Project (PIP)
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Depreciation of fixtures and fittings (restricted fund) Other interest payable |
Total 2024 £ (184) (14) (518,312) |
Total 2023 £ (246) - |
|---|---|---|
| (370,334) |
This page does not form part of the statutory financial statements. Page 26