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2021-03-31-accounts

Peeple Trustees' Annual Report April 2020 – March 2021

Peeple

Registered charity number: 1144975 in England and Wales Registered charity number: SC044031 in Scotland

Peeple is also a company limited by guarantee no. 07514469 Peep Learning Ltd is the trading subsidiary of Peeple Company registration no. 04089209 and VAT no. 768 4173 94

Contact details

The Peeple Centre, Littlemore, Oxford, OX4 6JZ

Phone: 01865 395145

Website: www.peeple.org.uk Email: info@peeple.org.uk Facebook, Twitter and Instagram: @PeepleCentre

Auditors

Mercer Lewin Ltd, Chartered Accountants and Registered Auditors,

41 Cornmarket Street, Oxford, OX1 3HA

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Contents

Contents
Executive summary 4
Achievements during 2020-2021 include: 5
Trustees’annual report for the charity Peeple 7
1.
Introduction		 7
2.
Our vision		 9
3.
Our mission		 9
4.
Our principles		 9
5.
Why our work is needed		 10
6.
Theory of Change		 11
7.
Our staff		 12
8.
Objects, aims and activities		 12
9.
Achievements and performance (2020-2021)		 13
10.
Financial review		 24
11.
Future plans (2021–2024)		 24
12.
Reserves		 25
13.
Risks		 25
14.
Structure, governance and management		 26
Auditors’Report 28
Consolidated Statement of Financial Activities
(including Consolidated Income and Expenditure Account 32
Consolidated Statement of Financial Position 33
Consolidated Statement of Cash Flow 34
Notes to the Accounts 35

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Executive summary

The trustees have pleasure in presenting their report and the financial statements of Peeple for the year ended 31 March 2021. The gross income for the Group (comprising the charity and its trading subsidiary, Peep Learning Ltd) in 2020-21 was £941,269 (2019-20: £901,820). Total expenditure of the Group in the year 2020-21 was £876,318 (2019-20: £902,196) giving a surplus overall of £64,951. Peep Learning Ltd achieved a surplus of £1,135 (down from £81,168 in 2019-20) before making a donation to Peeple. The significant reduction in Peep Learning Limited income reflects the impact of Covid throughout the year.

The charity’s subsidiary company, Peep Learning Ltd (PLL) develops and sells training (known as Peep Learning Together Programme Training), materials, and consultancy to support other organisations from around the UK and Ireland to use the Peep Learning Together Programme (LTP) and the Peep Progression Pathway. It also develops and sells training in other programmes. Profits are passed to the charity by donation at the discretion of the directors of PLL. In 2020-21 £1,000 was transferred by donation to the charity.

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Achievements during 2020 - 2021 include:

These include:

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Trustees’ annual report for the charity Peeple

The trustees have pleasure in presenting their report and financial statements of Peeple for the year ended 31 March 2021. They have been prepared in accordance with the provisions of the Charities Act 2011, the charity’s governing document, the Statement of Recommended Practice “Accounting for Charities”, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). Accordingly, the accounts consolidate the results of the charity with those of its subsidiary company, Peep Learning Limited (PLL).

1. Introduction

Babies’ brains are shaped by interactions with those around them. The more sensitive, responsive, and dependable these interactions are, the better. Hearing lots of words, even words not yet understood, helps build a wide vocabulary. Opportunities to make friends and play, to enjoy books, stories, songs, and rhymes, all make a big difference to how well children do in school and beyond.

This report covers the extraordinary period between April 2020 and March 2021. There is no doubt that the Covid pandemic had a huge impact on all families and on the interactions that babies and young children experienced. Locking down and social distancing deprived families of contact with, and support from, relatives, friends, and neighbours. Professionals such as health visitors and social workers could only offer a skeleton service. Children’s centres, family hubs, pre-schools and playgrounds were closed. While all families were affected, the evidence is now clear that the most disadvantaged were hardest hit.

Some impacts were immediate and obvious, such as the financial consequences for poorer families or the rise in anxiety and depression in parents*. Other impacts were more subtle, and it will take

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years before their full extent is realised. The consequences will be far reaching; the benefits of healthy early development last more than a lifetime; they influence how we parent our own children.

So it is with renewed determination that we commit to helping create a society in which all parents get the support that they need in their crucial role in shaping their child’s future.

We want to finish by acknowledging those, including our colleagues, friends, and families, who lost loved ones this year, as well as those who have done so much to care for and support others.

We would also like to recognise our staff for their commitment to Peeple whilst coping with the personal challenges created by the pandemic. Those that could adapted to remote working. They wrestled with new technologies and embraced the opportunities that they offered. They found innovative ways to train practitioners and to support families. They supported each other and their own families.

Meanwhile, the Little Peeple Nursery team worked incredibly hard to keep everyone as safe as possible while making sure that the children had a wonderful, happy, and stimulating time in their care. Thank you. An amazing amount was achieved, we learnt so much, and we look to the future with optimism and enthusiasm.

*We use the term ‘parents’ throughout this report to include anyone with parental responsibility for the children in their care.

Sally Smith CEO

Mark Harris Chair of trustees.

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2. Our vision

Every family makes the most of day-to-day learning opportunities which improve children’s outcomes and help narrow the gap in attainment.

3. Our mission

Peeple exists to help parents improve their children’s life chances, particularly in less affluent areas, by making the most of everyday learning opportunities at home and in the community. We aim to narrow the gap in attainment by supporting parents in raising their babies and young children to reach their full potential.

We do this by developing interventions which support parents as their children’s first educators, by training practitioners to work with families, and by supporting the implementation of our programmes. We also deliver services directly to families, including early education and childcare and help parents to gain qualifications which lead to further learning, volunteering or employment. In addition, we contribute to research and policy development in early years education

4. Our principles

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5. Why our work is needed

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  1. Theory of Change Attainment gap narrows Children's lan8uage, cognitive & socioemotional outcomes improve Quality of relationships between parents & their children improve Quality ofthe Home Learning Environment irnprove5 Peep Learning Together Programme embedded in policy Education level &/or aspirations of parents improve WHY Parents believe they can make a positive difference to their children's liwe5 Parents engage rncre in learning, volunteerinE or employment Prathtroners up5killed in child development & how to work with parents Parents do more to support their children to learn through play & everyday actsvitres Parent5 know rncre about how children le8rn & develop Policy leads to action which supports parents & improves E3rly LearninE & Childcare Provide more support for trained practitioners Accredit more parents with Peep Pro8re55ion Pathway unit5 Share evidence & good practice with the Early Years Sector, policy makers & rese3rcher5 Train & accredit rnore HOW practitioners to deliver the Peep Learnin8 Together Pro8ramme Provide more Service delivery forfarnilies with children 0-5 Training, accreditation & support for practitioners Accredited learning for parents Resource5 for Service delivery including. Little Peeple Nursery parents Gatheri ng & sharing Evidence WHAT Peep Learnlng Together Programme Peep Progression Pathway li

7. Our staff

Peeple had an average of 41 employees during 2020-21. The number working in early education and childcare roles remained steady at around 16, comprising a mix of part time and full-time positions and two apprentices. The local delivery team comprised 11 staff including a manager, co-ordinator, administrator, four practitioners and four part-time assistants. Of the other staff five, including managers, worked in the training team; five worked in Scotland promoting and supporting Peep Programmes, parent accreditation and the Family Learning Scotland project; and four worked in the back-office functions of senior management, finance, HR, IT and general admin. The total full-time equivalent staff in March 2021 was 25. All professional staff have significant skills and knowledge in the field.

8. Objects, aims and activities

The objects of the charity are for the public benefit: (1) to advance education, in particular (but not limited to) the early learning and development of children; and (2) to promote, commission, carry out and disseminate research in the field of early years and other education.

Aims 2020 – 2021

Activities

The activities of the charity are: practitioner training and implementation support for our programmes nationally; accreditation of parents’ learning via the Peep Progression Pathway; commissioning and carrying out research and evaluation; delivery of the Peep Learning Together Programme and other services to parents, carers and young children in Oxfordshire; early education and childcare; influencing of national debate and policy; and the maintenance of good governance, management and infrastructure.

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9. Achievements and performance (2020 - 2021)

The aims were agreed before the start of the pandemic. We used them as a touchstone throughout the year as the pandemic took hold, and as we adapted our activities out of necessity.

Aim 1: to increase the use of Peep programmes across the UK and internationally

“My son and I have only been doing Peep for a few weeks but my goodness what a difference it has made to our lives! All of the activities and suggestions have made a massive difference to his behaviour and improved our relationship.” Parent, South Ayrshire

“I felt apprehensive about doing the training online as Peep is an interactive programme, but I really enjoyed it and I felt more confident and at ease with the smaller group of people. Trainers did a great job delivering the training in these unusual circumstances.” Early Years Practitioner

“My child and I enjoyed being part of the Zoom family fun sessions. He became more confident in talking about numbers through the sessions and he really looked forward to coming to the sessions. It also benefited him as he was able to see his friends that he hadn’t saw in a while.” Parent - Fife

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Aim 2: to improve and extend the Peep Progression Pathway throughout the UK

The Peep Progression Pathway (accredited units for parents based on their participation in the Peep Learning Together Programme) was hard-hit by the pandemic. Understandably, practitioners had little capacity to deliver or assess adult learning units and parents had other priorities. We therefore focused on maintaining the infrastructure, and on adding to the resources, for the Pathway.

“… when I get advice or new ideas from my Peep course, I tell my friends who are foster carers and through that, Peeple is supporting many people. I plant one little seed with all of them and it goes from there.”

----- Start of picture text -----
Foster carer
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“I’ve learnt how these activities support and enhance [my child’s] balance and co-ordination, problem solving, confidence and give him space to progress whilst having fun and experiencing supported risk taking. These all contribute towards supporting his development.” Parent

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Aim 3: to ensure our work is underpinned by appropriate research and evaluation

Children’s early STEM development grows from their natural curiosity and engagement in real-world experiences and play. These can be enhanced through interaction with adults who have the confidence to share the child’s interest, and can be extended still further with relevant knowledge, vocabulary and ideas.

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Aim 4: to extend our role as a service provider in Oxfordshire

It has been a challenging year during which we had to flex our menu of services to comply with the changing regulations and guidance. However, we were determined to find ways to support our local families as they struggled to look after their babies and young children in the most difficult of circumstances. We were also able to invite families not living in Oxfordshire to some of our online Peep Learning Together sessions.

Online Peep sessions

• We delivered 106 Peep Learning Together groups online via Zoom. Some were closed sessions for invited families; others were advertised on social media for families anywhere.

“Thank you for keeping us going during lockdown”

“These sessions have helped give some structure and interactions in such difficult times. Thank you!”

“…there is a real camaraderie. As foster carers, you can’t go into any standard group because you can’t discuss the things you need to discuss, because of confidentiality. So these courses are a place to share experiences and learn as you do that. It opens your eyes. You don’t realise how much teaching you’re doing for [the child] in a normal day.”

Foster Carer

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Interactive Newsletters and social media posts

and guidance posted on social media.

“I love the Peep Tips and find them a really valuable resource to engage with families, especially when we can’t see them face to face.” Peep Leader, Somerset

“Large selection of online resources makes planning with no budget easy” Equity and Excellence Lead Aberdeenshire

“The resources are clear and easy to understand and very useful for parents to continue learning at home after the session” Family Support worker, Nottinghamshire

In-person sessions

“The outdoor groups have been really popular, and we have seen the parents’ confidence and participation grow. We have noticed more interactions and richer conversations happening between the parents/carers and babies and between each other. This is so important as lots of the babies were born during the lockdowns, so the families have been isolated.” Peep Practitioner

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Imagination Library

The Imagination Library is a partnership between Peeple and the Dollywood Foundation. It gifts a book per month to every registered child from birth to five years of age living in the Leys, Littlemore, Rosehill and Berinsfield areas of Oxfordshire. This year we:

“…it's nice to receive books which I probably wouldn't buy myself, but my daughter really enjoys them and it's nice to see she learns new words from these books – ‘cheese’- from Hickory Dickory Dock and ‘tractor’' from Goodnight Digger .” Parent

“The difference the books have made is that it has definitely opened us up to some different texts. My daughter really likes a book which is full of words from around the house and I wouldn’t have bought that necessarily so it’s been great to see her enjoying it and pointing to the pictures when she hears the words.”

Parent

Growing Minds

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Aim 5: deliver high quality early education: Little Peeple Nursery

Little Peeple is a 44-place day nursery and pre-school for children aged six months to four years. It was built by Peeple in partnership with The Oxford Academy and Oxfordshire County Council and it opened in 2018.

“We are so grateful for the wonderful start you have given her and the love of learning she is developing, we will miss you” Parent

“We would like to thank you very much for your effort and contribution to our son’s education.” Parent

“Thank you for your smiles, your kindness and your praise, thank you for being such an important part of my story, thank you for being THE BEST NURSERY” Child

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Aim 6: to contribute to national debate and policy

Maree Todd, MSP and Minister for Children and Young People joined a Peep Learning Together Programme training to find out more about the Family Learning Scotland project. The project is a contract with the Scottish Government to train and support 432 practitioners to deliver the Peep Learning Together Programme and the Peep Progression Pathway across all 32 local authorities.

We provided educational consultation for the popular BBC CBeebies Programme, The Baby Club (series 3) and, in response to lockdown, The Baby Club/Toddler Club at Home . DK published Play and Learn with your Baby, a book based on The Baby Club co-authored by Dr Sally Smith, CEO, Peeple.

“The Baby Club has been invaluable over the past year. Our daughter watches the babies and their parents with absolute concentration, especially during lockdown when other social interaction has not been possible. It has given us inspiration for easy activities to do with her and reinforced that we can play and learn with her through even the most everyday tasks.” Parent

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Our CEO, Sally Smith and Project Manager Helen Stroudley were interviewed by Kathy Brodie on Early Years TV to talk about the ORIM framework and using the Peep Learning Together Programme with babies. Peep Practitioner, Nuzhat Abbas also appeared and spoke about working with parents who come from diverse backgrounds.

During the year we have campaigned, alongside many other organisations, for Government to support families during the early years and the early learning and childcare sector, both of which have been low priority for Government funding.

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Peep Learning Together Programme

The Peep Learning Together Programme aims to improve the quality of relationships between parents/carers and their children, and the quality of the Home Learning Environment, because both are shown by research to help children to do well in school and beyond. The Programme can be used flexibly - in the home, in universal or targeted groups, in drop-in sessions, in nurseries and schools – wherever families spend time.

The Programme explains to parents about how babies and young children learn and develop, helping them build on what they are already doing at home to support their children’s learning. It also promotes parental confidence, self-esteem and social support.

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10. Financial review

The gross income for the Group (comprising the charity and its trading subsidiary, Peep Learning Ltd) in 2020-21 was £941,269 (2019-20: £901,820). Total expenditure of the Group in the year 2020-21 was £876,318 (2019-20: £902,196) giving a surplus overall of £64,951. Peep Learning Ltd achieved a very small surplus of £1,135 (down from £81,168 in 2019-20) before making a donation to Peeple. Full financial statements are available as a separate document on request.

Peep Learning Limited delivered a much-reduced level of training in 2020-21 compared to previous years as we and our customers adjusted to the limitations of lockdown and moving everything online. The Little Peeple Nursery was closed for two months and staff placed on furlough. On the positive side, additional grant funding from charitable trusts was gratefully received to enable us to meet our core costs and support our services for families both during lockdown and on a continuing basis as we recover from the pandemic. As a precaution, the charity also made use of the government's Bounce Back Loan scheme to secure cashflow by borrowing £50k repayable over 10 years.

The charity’s main expenditure is that of wages and salaries. Staff are recruited based on their specific skillsets to the various activities of the charity and according to the requirements of grants received and trading activities. Most employment contracts are permanent, and the majority are part time, with fixed term contracts being offered where appropriate to reflect the requirements of the activities and thereby maximising value for money.

The charity’s subsidiary company, Peep Learning Ltd (PLL), develops and sells materials, training and consultancy to support other organisations to use the Peep Learning Together Programme and the Peep Progression Pathway in different parts of the country. The main two-day training (currently online) is known as the Peep Learning Together Programme Training. One-day trainings in the Peep Antenatal Programme, Early Communication Matters and Peep Progression Pathway continue to be offered. Profits are passed to the charity by donation at the discretion of the directors of PLL. In 2020-21 £1,000 was transferred by donation to the charity.

11. Future plans (2021 – 2024)

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12. Reserves

The charity relies on human resources to deliver its programme, and the trustees are conscious of the need to ensure that there are sufficient reserves available to provide for those resources in times of low funding or whilst new grant applications are being made.

The trustees consider that the minimum level of reserves should be three months of fixed costs. On this basis, the level of readily accessible reserves should be in the region of £175,000. As at 31st March 2021 the total unrestricted reserves were £208,128 (31.3.20 = £ 140,538) which is a satisfactory result.

A finance meeting takes place before each full board meeting which reviews the level of reserves with these criteria in mind.

13. Risks

The trustees have reviewed the major risks to which the charity is exposed, and systems have been put in place to mitigate those risks. These are reviewed by the full board on a regular basis. Major risks considered in 2020-21 and steps taken include:

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14. Structure, governance and management

The trustees (directors) who served Peeple during the year and subsequently were as follows:

David Bailey (Vice Chair) Nancy Stimson Mark Harris (Chair) Teresa Smith Neil McClelland Dr Alison Street Dr Helena Mitchell (resigned 15.10.20) Professor Mary Wild (appointed 15.10.20)

New trustees are invited to join the board by the current trustees. Peeple’s deed sets a maximum of 10 on the number of trustees who can serve at any one time. The organisation is governed by a Memorandum and Articles of Association which sets out rules governing meetings, trustee recruitment, powers and responsibilities of trustees.

Trustees are kept up to date by a detailed report from the Chief Executive Officer (CEO) on progress in achieving our strategic aims and objectives at each board meeting and by emails between meetings. Time is also set aside at board meetings to discuss strategy and update knowledge on governance and related matters. Trustees undertake on-line safeguarding training every three years or whenever guidelines change. Individual trustees take on responsibility for keeping the organisation up to date on specific areas e.g. governance and risk management.

New trustees are given full induction into their role as trustees, to the Peep Learning Together Programme, and to our work in Oxford and nationally. They are encouraged to visit our projects on a regular basis to see staff in action. They work with staff in committees (HR, Finance, Projects, Fundraising) to contribute their specific knowledge and expertise.

Governance and management

Day to day management is delegated by the trustees to the CEO. Dr Sally Smith is the current CEO. Trustees are responsible for the overall strategy of the organisation and the appointment of the CEO.

Responsibilities of the trustees/directors

Company law requires the trustees to prepare accounts for each financial year which give a true fair view of the state of the affairs of the company and of the surplus or deficit of the company for that period. In preparing those financial statements the trustees are required to:

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

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The trustees confirm that:

Solicitors, bankers and accountants

Solicitors: Bates Wells Braithwaite LLP, London (charity and IPR matters) Freeths LLP, Oxford (property matters) Bank: Lloyds Bank, Headington, Oxford Auditors: Mercer Lewin Ltd, Chartered Accountants and Registered Auditors, 41 Cornmarket Street, Oxford, OX1 3HA

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the trustees/directors

Mark Harris

Date:

26 November 2021

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REGISTERED COMPANY NUMBER: 07514469 (England and Wales) REGISTERED CHARITY NUMBER: 1144975/SC044031

PEEPLE

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Mercer Lewin Ltd Chartered Accountants and Registered Auditors 41 Cornmarket Street Oxford OX1 3HA

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PEEPLE

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE YEAR ENDED 31 MARCH 2021

Opinion

We have audited the financial statements of Peeple for the year ended 31 March 2021 which comprise the group statement of financial activities (including income and expenditure account), the group and parent statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standards applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act, and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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PEEPLE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE (continued) YEAR ENDED 31 MARCH 2021

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

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PEEPLE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE (continued) YEAR ENDED 31 MARCH 2021

The above procedures were undertaken by the audit team as a whole, led by the audit engagement partner. In this way the audit engagement partner was able to obtain assurance the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations and the possibility of irregularities arising from fraud.

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Management Committee and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of Mercer Lewin Ltd Chartered Accountants and Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 41 Cornmarket Street

Oxford OX1 3HA

1 November 2021

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PEEPLE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
Note £ £ £ £
INCOME
Income from donations and legacies 5 374,761 128,800 503,561 339,424
Income from charitable activities
Sales of publications and training 5.1 86,921 - 86,921 291,011
Nursery income 5.2 253,095 - 253,095 258,010
Government grant 68,578 - 68,578 -
Other income 29,114 - 29,114 13,375
Total income 812,469 128,800 941,269 901,820
EXPENDITURE
Cost of generating funds - publications and training 12,384 - 12,384 60,320
Cost of generating funds - other 9,985 - 9,985 10,317
Charitable activities 6 704,731 132,123 836,854 815,810
Governance costs 7 17,094 - 17,094 15,749
Total expenditure 744,195 132,123 876,318 902,196
NET INCOME /(EXPENDITURE) AND NET 68,274 (3,323) 64,951 (376)
MOVEMENT IN FUNDS FOR THE YEAR
Reconciliation of funds
Total funds brought forward 427,934 - 427,934 428,310
Movement between funds to unrestricted (3,323) 3,323 - -
TOTAL FUNDS CARRIED FORWARD 492,885 - 492,885 427,934

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes form part of these financial statements

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PEEPLE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021 Group Company 2020 2021 2020 2021 Note FIXED ASSETS Tangible assets Inv8slm8nts 10 307,209 303,136 304,519 66,514 371.033 300.088 66.514 366,502 Total Flx•d A8Bets 307,209 303,136 CURRENT ASSETS Stocks Debtor5 and prepayrnent5 Cash at bank and in hand 9,792 223,720 439.583 673,095 11,396 105.716 161,552 278,666 12 78,229 352,324 428,553 65,326 85.182 1SO.5I0 Tot•1 Cuff•nt A•••t• CREDITORS: Amounts falling due within one year 13 442.419 153.868 310,344 91,692 NET CURRENT ASSETS 230,676 124,798 118.208 58.818 CREDITORS: Amounts falling du• after more than on• y•ar 45.000 TOTAL ASSETS LESS LIABILITIES 492,885 427.934 489.241 425.419 RESERVES RestnGled income funds Restricted capitsl funds Unrestdcted fund8 14 14 15 0?slgnaled propeity lund General lunds 284,758 208,128 492,885 287,395 140,538 427,934 284,758 204,483 489,241 287,395 138.024 425.419 TOTAL CHARITY FUNDS The trustee5 have prepared the group accounis In aGr￿dance ￿1h secuon 398 of the Cornpanies Act 2006 and section 138 01 the Charittes kn12011. These accounts afe prepBred lrn accordance with thB speG$81 provisions of Part 15 of the Cclnpanies Ad r•labng to small comp8nies and cc￿stitute the annu81 Eccounls required by the Compani¢s Act 2006. Approved by the Trustees ￿1. 14 October 2021 Haths Chair ol Trustees Th? notes form part of thes? financial Statements 33

PEEPLE CONSOLIDATED STATEMENT OF CASH FLOWS FOR YEAR ENDED 31 MARCH 2021

Cash flows from operating activities
Net income
Adjustments for:
Depreciation of tangible fixed assets
Interest payable and similar charges
Loss on disposal of tangible fixed assets
Accrued expenses
Changes in:
Stock
Trade and other debtors
Trade and other creditors
Cash generated from operations
Interest paid
Net cash from operating activities
Cash flows from investing activities
Purchase of tangible assets
Proceeds from sale of tangible assets
Net cash (used in) / from investing activities
Cash flows from financing activities
Payments of finance lease liabilities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
64,951
26,096
-
-
278,672
1,604
(118,002)
54,879
308,200
-
308,200
(30,170)
-
(30,170)
-
-
278,031
161,552
439,583		 2020
£
(376)
23,644
-
-
(1,814)
2,295
54,491
(23,640)
54,600
-
54,600
(9,910)
-
(9,910)
-
-
44,690
116,862
161,552

The notes form part of these financial statements

34

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales. It is registered as a charity in both England and Wales and Scotland. The address of the registered office is The Peeple Centre, Littlemore, Oxford, Oxfordshire, OX4 6JZ, United Kingdom.

The charity's main purpose is that of a public benefit entity.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011, Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Basis of consolidation

The consolidated accounts include the accounts of the company (PEEPLE) and its subsidiary company (PEEP Learning Limited) on a line by line basis made up to 31 March 2021. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. Intra-group turnover and profits are eliminated on consolidation.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities net of VAT where applicable and when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

35

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Accounting Policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation and Amortisation

Depreciation and amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Amorisation of the leashold improvements is allocated on a pro-rata basis between the funds used for its purpose

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

36

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

Accounting Policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Taxation

The company (PEEPLE) is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

Its subsidiary (PEEP LEARNING LIMITED) is subject to UK Corporation Tax based on its profits after making a donation payment to the holding company .

Pensions

Pensions are provided on a defined contribution basis and aligned to those rates required by Auto Enrolment statutory requirements Individuals have the right to opt out. The contributions made for the year are treated as an expense and were £19,158 (2020: £17,533). The pension expense is allocated in line with the salaries to which they relate.

4. SURPLUS FOR THE YEAR 2021 2020
is stated after charging/(crediting): £ £
Restricted funds and donations received 121,800 120,382
Restricted capital grant - -
Trustees and officers indemnity insurance 337 373
Restricted fund expenditure 121,800 120,382
Auditors remuneration Audit of the financial statements 6,600 6,600
Other services 1,800 1,800

The surplus dealt with in the financial statements of the parent company was £64,817 (2020: £1,545 deficit).

5. INCOME

INCOME FROM DONATIONS AND LEGACIES
Brotherhood of St Laurence
BBC Children in Need
Dulverton Trust
Edina Trust
Esmee Fairbairn Foundation
Hamilton Trust
Julia and Hans Rausing Trust
National Lottery
Oxfordshire Community Foundation
Oxfordshire County Council
Other grants
Playgroup Victoria
Scottish Government
Tambour Foundation
Donations and legacies		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 2021
Funds 2020
£
£
£
£
19,433
-
19,433
33,699
-
8,812
8,812
4,406
20,000
-
20,000
-
35,156
-
35,156
22,336
10,000
-
10,000
27,200
20,000
-
20,000
-
38,500
-
38,500
-
-
2,988
2,988
5,976
55,201
-
55,201
12,550
3,794
7,000
10,794
1,851
-
-
-
8,900
3,000
-
3,000
-
151,876
110,000
261,876
160,000
3,662
-
3,662
41,974
14,140
-
14,140
20,532
374,761
128,800
503,561
339,424

5.1 SALES OF PUBLICATIONS AND TRAINING BETWEEN RELATED PARTIES

The total sales by Peep Learning Limited in the year were £86,921, of which £nil was to Peeple itself. Therefore, on consolidation, the sales of publications and training are £86,921 (2020: £291,011).

5.2 PRE SCHOOL AND NURSERY INCOME

The income represents funded places by Oxfordshire County Council and parent fees.

37

PEEPLE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

6. CHARITABLE EXPENDITURE

6. CHARITABLE EXPENDITURE
Early education projects
Support costs
7. GOVERNANCE COSTS
Salary costs
Audit and related fees
Other
8. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 Staff
Other
Allocation
Total
Total
costs
costs
of support
2021
2020
£
£
£
£
£
561,688
96,490
178,676
836,854
815,810
133,174
45,502
(178,676)
-
-		 Staff
Other
Allocation
Total
Total
costs
costs
of support
2021
2020
£
£
£
£
£
561,688
96,490
178,676
836,854
815,810
133,174
45,502
(178,676)
-
-		 Staff
Other
Allocation
Total
Total
costs
costs
of support
2021
2020
£
£
£
£
£
561,688
96,490
178,676
836,854
815,810
133,174
45,502
(178,676)
-
-		 Staff
Other
Allocation
Total
Total
costs
costs
of support
2021
2020
£
£
£
£
£
561,688
96,490
178,676
836,854
815,810
133,174
45,502
(178,676)
-
-
694,862
141,992
-
836,854
815,810
(Note 8) (Note 9)
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 2021 Funds 2020
£
£
£
£
8,480
-
8,480
8,210
6,690
-
6,690
6,900
1,923
-
1,923
640
17,094
-
17,094
15,749
2021
£
633,172
43,052
18,637
694,862		 2020
£
576,464
41,901
17,027
635,392

The average number of employees during the year was 41 (2020: 36). There were 29 (2020: 24) members of staff who were accruing benefits under defined contribution pension schemes.

No employees received remuneration for the year in excess of £60,000.

No remuneration was paid to any trustee during the year to 31 March 2021. Expenses of £nil were reimbursed (2020: £nil).

9. ANALYSIS OF OTHER COSTS - CHARITABLE EXPENDITURE

ALYSIS OF OTHER COSTS - CHARITABLE EXPENDITURE
Project costs
Premises costs
Insurance
Printing, stationery, postage, telephone and office costs
Recruitment, courses and training
Motor, travel and subsistence
Professional fees
Fundraising
Bank and financial charges
Depreciation and (profit) / loss on sale of fixed assets		 2021
£
53,947
4,838
8,638
31,260
1,605
63
5,897
8,837
812
26,096
141,992		 2020
£
78,630
13,210
8,516
32,120
2,537
655
6,727
13,139
1,240
23,644
180,418

10. TANGIBLE FIXED ASSETS

Group
Cost
At 1 April 2020
Additions in year
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Adjust re disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Lease
premium
£
309,311
13,010
-
322,321
21,916
15,648
-
37,564
284,758
287,395		 Freehold
property
£
84,809
-
-
84,809
84,809
-
-
84,809
-
-		 Fixtures,
Fittings &
Equipment
£
53,787
17,159
-
70,946
38,047
10,448
-
48,495
22,451
15,740		 Total
£
447,907
30,170
-
478,077
144,771
26,096
-
170,868
307,209
303,136

38

PEEPLE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

10. TANGIBLE FIXED ASSETS (continued)

Company
Cost
At 1 April 2020
Additions in year
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Adjust re disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Lease
premium
£
309,311
13,010
-
322,321
21,916
15,648
-
37,564
284,758
287,395		 Freehold
property
£
23,201
-
-
23,201
23,201
-
-
23,201
-
-		 Fixtures,
Fittings &
Equipment
£
37,268
15,961
-
53,229
24,576
8,893
-
33,468
19,761
12,692		 Total
£
369,780
28,971
-
398,752
69,692
24,541
-
94,233
304,519
300,088

11. INVESTMENTS (all held in the UK)

Peeple owns 100% of the issued ordinary share capital of Peep Learning Ltd, a company incorporated in the UK. Its company number is 04089209 and its registered office is the same as Peeple.

The principal activity of Peep Learning Ltd is the sale and distribution of educational literature and associated training.

The book cost of £66,514 represents the net asset value of the company at the date of transfer on 1 April 2012. At 31 March 2021, the net asset value was £70,169 (2020: £69,029). The turnover for the year was £86,921 (2020: £291,466) and the net profit was £135 (2020: £1,168), after a donation to Peeple of £1,000 (2020: £80,000).

12. DEBTORS
Trade debtors and grants receivable
Amount owing by group undertakings
Prepayments
Accrued income
Other debtors		 2021
2020
2021
2020
£
£
£
£
155,879
95,440
10,039
49,937
- -
-
7,554
1,975
5,774
324
3,333
65,366
4,004
65,366
4,004
500
500
500
500
Group
Company
223,720
105,718
76,229
65,328

39

PEEPLE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

13. CREDITORS: Amounts falling due within one year

Trade creditors
Amount owed to group undertakings
Other creditors
Taxation and social security
Deferred income
Accruals		 2021
2020
2021
2020
£
£
£
£
16,835
29,778
15,330
22,184
-
-
70,650
-
7,136
6,989
1,277
6,347
39,657
16,982
12,879
-
336,162
66,459
172,882
34,602
42,629
33,660
37,326
28,560
Group
Company
442,419
153,868
310,344 91,692

Deferred income represents amounts received from grants and training sales in respect of subsequent trading periods. The reconciliation is as below:

Deferred income brought forward
Utilised in the year
New income
Deferred income carried forward		 66,459
53,905
34,602
34,027
(66,314)
(53,760)
(34,457)
(33,882)
336,017
66,314 172,737
34,457
336,162
66,459
172,882
34,602

14. RESTRICTED FUNDS

Grants have been received to fund the administration costs of various aspects of project work. These grants were for similar purposes and so were aggregated together for accounts purposes.

Grants received during the year
Amounts expended
Movement on fund
Balance brought forward
Movement between funds to unrestricted
Balance carried forward		 Revenue
Capital
Total Restricted
grants
grants
funds
£
£
£
121,800
7,000
128,800
(132,123)
-
(132,123)
(10,323)
7,000
(3,323)
-
-
-
10,323
(7,000)
3,323
-
-
-

15. ANALYSIS OF NET ASSETS (between restricted and unrestricted funds)

Tangible fixed assets
Net current assets		 Unrestricted
Restricted
funds
funds
Total
£
£
£
307,209
-
307,209
185,676
-
185,676
492,885
-
492,885

The designated property fund (which forms part of the tangible fixed assets) relates to the payment of a lease premium and legal costs for the Little Peeple Nursery in 2018-19 which are subject to amortisation over 20 years which is the life of the lease. The amount in the fund as at the year end represents the remaining balance not yet amortised.

16. MEMBERS' LIABILITY

Peeple is limited by guarantee and does not have a share capital. The members have undertaken to contribute a sum, not exceeding £1, to the assets in the event of it being wound up.

40