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← Play Inclusion Project (Pip)

2025-03-31-accounts

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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 2025

Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Contents

Trustees' Report 1 to 7
Accountants' Report 8
Independent Examiner's Report 9 to 10
Statement of Financial Activities 11 to 12
Balance Sheet 13 to 14
Statement of Cash Flows 15
Notes to the Financial Statements 16 to 25

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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 2025.

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:

Page 1

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Trustees' Report

Significant activities

Play Inclusion Project experienced another extremely successful financial year. A significant increase in the number of children registering for Break Time hours through Lancashire County Council resulted in 139 children being placed on a waiting list in Wyre for our summer holiday club. This demonstrated that demand had outgrown our capacity to deliver with only two holiday clubs funded. To address this, expansion funding was sought and successfully secured from Lancashire County Council (LCC).

The increased funding allowed for a re-structure of the existing team and the recruitment of two new Area Managers. As a result, an additional weekly club and holiday club were launched in both Wyre and Preston, and demand for activities continued to rise throughout the year. This year saw the largest holiday club programme of activities Play Inclusion project had ever offered with 7 holiday clubs now being delivered each school holiday period.

In Preston, each Area Manager was assigned to a specific age group:

However, the distribution of children on the databases in Wyre did not support the same structure. Instead, two Area Managers worked with the 4–10-year-olds, while one Area Manager was responsible for the 11–18-year-olds.

The Break Time contract continued to present challenges throughout the year. Parents and carers consistently reported that the allocation of 78 hours was insufficient to meet their family’s respite needs. The registration periods also continued to place considerable pressure on Area Managers, as all new referrals were received simultaneously. This influx often made the referral process difficult to manage due to the high number of children entering the service at once.

The 78-hour limit also created inconsistencies in attendance patterns, with some children attending during the Easter holiday club and then not returning until the summer holidays. This gap in attendance made it difficult for the Area Managers to establish and maintain effective working relationships with children, assess behaviours effectively, and implement appropriate support strategies. These issues were continually raised with Lancashire council by our CEO.

The demand for children to access activities via Break Time Plus funding continued to grow and by the end of the financial year 45 children were accessing Break Time Plus sessions. Children accessed these sessions either via a referral from their social worker or via their direct payments.

This year we continued to be a HAF delivery partner in Preston, Fylde and Wyre. In November 2024 the CEO was contacted by South Ribble Borough Council and asked if we would become a HAF partner to improve their SEND offer. During the Christmas holiday we expanded our HAF offer and had 10 places funded by South Ribble Borough Council. As with previous years the demand for HAF places far outweighed supply and due to limited funding, many children were only offered one HAF place per week throughout the funded periods as opposed to the 4 they were eligible for

Once again additional funding was sought and secured from Blackpool Council to cover the cost of the Government increasing the National Living Wage.

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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Trustees' Report

Fundraising Events

This year saw the fundraising committee go from strength to strength with 4 events held throughout the year:

The events raised £3,460.70 and we would like to thank the members of the fundraising committee for their commitment, dedication, enthusiasm and support.

Donations

Donations were received from Fylde Golf Club, DJ Sidebottom/Glasdon’s Charitable Programme, H & S Restaurants (McDonald’s) and Centrica British Gas. 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. Seven holiday clubs per school holiday period, two weekend clubs and seven weekly activities were delivered within Blackpool, Preston, Fylde and Wyre. We would like to thank all of our funders for their support, without which Play Inclusion Project would not be able to provide the respite and activities we offer.

Many children and young people have been able to access exciting social and leisure activities and parents and carers have received a quality break from their caring role because of this support.

In April, the team attended Coastal Radio’s Local Business Awards at the Tower Ballroom as finalists in the “Not for Profit” category. The charity came a close second, narrowly beaten by Blackpool Scouts.

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 associated costs to deliver activities.

The charity remains financially sustainable though increased funding levels from LCC and in particular Break Time Plus funding. The hourly rates charged to access Break Time Plus activities increased to £15.45 per hour session cost and £11.44 for 1:1 support. For children requiring 2:1 support the staff cost was £22.88. The cost for children accessing via their direct payments were brought in line with Break Time plus rates this financial year.

Due to ever increasing delivery costs parental contributions were raised for the first time since 2015. The new session costs were:

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Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Trustees' Report

Invoices and Payments

The funding arrangements with Blackpool Council sees Play Inclusion Project paid the contract price monthly.

Break Time weekly and holiday club sessions are invoiced and paid for post-delivery.

Break Time Plus sessions attended are invoiced every 4 weeks for children accessing via a referral from a social worker.

Break Time Plus sessions accessed via direct payments and parental contributions are invoiced at the end of each month.

Cash flow became an issue towards the end of the financial year due to a backlog of Break Time Plus invoices being unpaid by LCC.

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 2025 have increased from £19,180 to £26,899.

Income generated was £636,298. 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 surplus of £7,719 in the year was added to our unrestricted reserves.

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. Children referred had a range of disabilities including Autism, Downs Syndrome, Global Development Delay, severe learning disabilities and severe medical conditions. All referrals came from the Social Care Team as per the contract agreement and throughout the year 33 children accessed our Weekend and Holiday Clubs

The group continued to settle in to their new venue at Mereside Community Centre with all children successfully transitioning. A long-term lease agreement for a bouncy castle was secured to meet the sensory needs of many of the children accessing sessions. Other activities on offer for our Blackpool groups included trips to Gulliver’s World, Lancaster Castle, Bendrigg Trust, Blackpool Zoo and The Creative Space Centre.

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Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Trustees' Report

Lancashire County Council - Break Time and Break time Plus

Break Time funding is for children with non-assessed needs who are unable to attend mainstream clubs and activities. Break Time Plus funding routes are for children with assessed needs. This funding enabled us to provide Short Break activities during school holidays in Wyre and Preston for 4-18year olds.

The Holiday Clubs were based at the United Reform Church Hall and YMCA Lofthouse Building 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 Gulliver’s World, Wild Boar Park, Manchester Museum, Quad biking in Lancaster, Blackpool Zoo and Knowsley Safari Park

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 also delivered in Fylde which was based at St Cuthbert’s Parish Centre.

Throughout the year these activities were attended by 149 children using break time hours and 45 children using break time plus funding

HAF

The Holiday and Food programme (HAF) is a national programme that provides funding for activities and food to children in receipt of benefit related free school meals. This year we offered HAF places to eligible children living or attending school in Fylde, Wyre, Preston and South Ribble at the Easter, Summer and Christmas holiday clubs. The parental contributions, staff costs and costs of trips and activities for those attending through the HAF programme were covered by the funding along with a £5.00 food subsidy to be paid to parents for the days their child attended.

Throughout the year we were able to offer 438 HAF places to 86 children and young people.

Wyre Saturday Swim Club

These sessions were funded by donations from DJ Sidebottom/Glasdon Charitable Programme and Warren Farm Community Association. The club ran alternate Saturdays, was based at Fleetwood YMCA and was 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 18 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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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: 139 Red Bank Road Blackpool Lancashire FY2 9HZ 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 Carol Ann Gradwell (resigned 10 September 2025) Mr Ian Christopher Harrison Mrs Gaynor Hope Mr Joseph Tantram (appointed 20 October 2025)

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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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:

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 10 December 2025 and signed on its behalf by:

......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee

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Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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 2025

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 2025 as set out on pages 11 to 25 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.

[Reset ...................................... C4C4785A987D4C6... by:

Rawcliffe & Co Limited Chartered Accountants Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP 10 December 2025

Page 8

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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 2025.

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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

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:

  1. accounting records were not kept in respect of Play Inclusion Project (PIP) as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

cs ...................................... 748153B7CE2F496... by: Kirsten Shearer c/o Rawcliffe and Co Limited Chartered Accountants ICAEW

Unit 1 Barons Court Graceways Whitehills Business Park Blackpool Lancashire FY4 5GP

10 December 2025

Page 10

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Statement of Financial Activities for the Year Ended 31 March 2025 (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 income/(expenditure)
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:
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		 Unrestricted
funds
£
549,029
86,901
367
636,297
(2,812)
(625,972)
(628,784)
7,513
7,513
19,180
26,693
Unrestricted
funds
£
433,904
63,303
324
497,531
(738)
(513,657)
(514,395)
(16,864)
(16,864)
36,044
19,180		 Restricted
funds
£
-
-
-
-
-
(4,276)
(4,276)
(4,276)
(4,276)
5,591
1,315
Restricted
funds
£
9,509
-
-
9,509
-
(4,655)
(4,655)
4,854
4,854
738
5,592		 Total
2025
£
549,029
86,901
367
636,297
(2,812)
(630,248)
(633,060)
3,237
3,237
24,771
28,008
Total
2024
£
443,413
63,303
324
507,040
(738)
(518,312)
(519,050)
(12,010)
(12,010)
36,782
24,772

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 16 to 25 form an integral part of these financial statements. Page 11

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

The funds breakdown for 2024 is shown in note 14.

The notes on pages 16 to 25 form an integral part of these financial statements. Page 12

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

(Registration number: 05115873 ) Balance Sheet as at 31 March 2025

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		 2025
£
4,244
985
35,219
36,204
(12,440)
23,764
28,008
1,315
26,693
28,008		 2024
£
3,440
630
32,229
32,859
(11,527)
21,332
24,772
5,592
19,180
24,772

The notes on pages 16 to 25 form an integral part of these financial statements. Page 13

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

(Registration number: 05115873 ) Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 11 to 25 were approved by the trustees, and authorised for issue on 10 December 2025 and signed on their behalf by:

......................................... 605DA64FF017482... Mrs Gaynor Hope Trustee

The notes on pages 16 to 25 form an integral part of these financial statements. Page 14

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Statement of Cash Flows for the Year Ended 31 March 2025

Note
Cash flows from operating activities
Net cash income/(expenditure)
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 increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2025
£
3,237
1,415
4,652
(356)
913
5,209
(2,219)
2,990
32,229
35,219		 2024
£
(12,010)
1,146
(10,864)
(185)
325
(10,724)
(2,677)
(13,401)
45,630
32,229

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 16 to 25 form an integral part of these financial statements. Page 15

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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: 139 Red Bank Road Blackpool Lancashire FY2 9HZ

These financial statements were authorised for issue by the trustees on 10 December 2025.

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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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 18

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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 19

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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 20

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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 21

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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
£
45,379
503,650
-
549,029		 Total
2025
£
45,379
503,650
-
549,029		 Total
2024
£
28,527
414,440
446
443,413

4 Income from other trading activities

Other income from other trading activities
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
86,901
86,901
63,303		 Total
funds
£
86,901
86,901
63,303

Page 22

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

5 Other expenditure

Note
Staff costs
Wages and salaries
Social security
Pension costs
Other staff costs
Depreciation, amortisation and other similar
costs
Total for 2025
Total for 2024
6
Net incoming/outgoing resources
Net incoming/(outgoing) 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
£
468,049
16,983
5,432
4,168
1,276
495,908
405,184		 Restricted
funds
£
4,138
-
-
-
138
4,276
1,161
2025
£
1,414
2025
£
472,187
16,983
5,432
4,168
498,770		 Total
funds
£
472,187
16,983
5,432
4,168
1,414
500,184
406,345
2024
£
1,146
2024
£
385,109
12,201
4,491
3,398
405,199

Page 23

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

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 2025
No
88		 2024
No
75

10 (2024 - 10) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £5,432 (2024 - £4,491).

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 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
10 Debtors
Prepayments
11 Cash and cash equivalents
Cash at bank		 Furniture and
equipment
£
18,491
2,219		 Total
£
18,491
2,219
20,710
15,051
1,415
16,466
4,244
3,440
2024
£
630
20,710
15,051
1,415
16,466
4,244
3,440
2025
£
985
2025
£
35,219
2024
£
32,229

Page 24

Docusign Envelope ID: 7C28F394-2400-4F71-B6F5-7EE9806E6DB4

Play Inclusion Project (PIP)

Notes to the Financial Statements for the Year Ended 31 March 2025

12 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Pension scheme creditor
Accruals		 2025
£
-
5,601
399
2,280
4,160
12,440		 2024
£
640
4,659
280
2,108
3,840
11,527

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 £5,432 (2024 - £4,491).

14 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 Balance at 1
April 2024
£
19,180
5,591
24,771
Balance at 1
April 2023
£
36,044
738
36,782		 Incoming
resources
£
636,297
-
636,297
Incoming
resources
£
497,531
9,509
507,040		 Resources
expended
£
(628,784)
(4,276)
(633,060)
Resources
expended
£
(514,395)
(4,655)
(519,050)		 Balance at 31
March 2025
£
26,693
1,315
28,008
Balance at 31
March 2024
£
19,180
5,592
24,772

Page 25