OpenCharities

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

2022-03-31-accounts

Trustees' Annual Report Directors’ Report Audited Financial Statements for the year ended 31 March 2022

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

This report and financial statements of Peeple for the year ended 31 March 2022 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 (part 15), 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).

2

Contents

Executive summary ................................................................................................................................. 4
Achievements during 2021 – 2022 ......................................................................................................... 5
Trustees’ annual report for the charity Peeple....................................................................................... 6
1.
Introduction ............................................................................................................................... 6
2.
Our vision ................................................................................................................................... 7
3.
Our mission ................................................................................................................................ 7
4.
Our principles ............................................................................................................................. 7
5.
Why our work is needed ............................................................................................................ 8
6.
Theory of Change ..................................................................................................................... 10
7.
Objects, activities and aims ...................................................................................................... 11
8.
Achievements and performance (2021 – 2022) ...................................................................... 12
9.
Financial Review ...................................................................................................................... 22
10.
Future plans (2021 – 2024) ...................................................................................................... 22
11.
Reserves ................................................................................................................................... 23
12.
Risks.......................................................................................................................................... 23
13.
Structure, governance, management and staff ....................................................................... 23
Auditors’ Report .................................................................................................................................... 26
Consolidated Statement of Financial Activities
(Including Consolidated Income and Expenditure Account) ............................................................... 30
Consolidated Statement of Financial Position ...................................................................................... 31
Consolidated Statement of Cash Flow .................................................................................................. 32
Note to the Accounts ............................................................................................................................ 33

3

Executive summary

The trustees have pleasure in presenting their report and the financial statements of Peeple for the year ended 31 March 2022. The gross income for the Group (comprising the charity and its trading subsidiary, Peep Learning Ltd) in 2021-22 was £1,131,693 (2020-21: £941,269). Total expenditure of the Group in the year 202122 was £1,035,613 (2020-21: £876,318) giving a surplus overall of £96,080. Peep Learning Ltd achieved a surplus of £132,611 (up from £1,135 in 2020-21 when sales were badly affected by Covid-19) before making a donation to Peeple.

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 (LTP), the Peep Progression Pathway and other programmes in different parts of the country. The main two-day training is known as “Peep Learning Together Programme Training”. Profits are passed to the charity by donation at the discretion of the directors of Peep Learning Limited. In 2021-22 £132,450 was transferred by donation to the charity.

4

Achievements during 2021 - 2022 include:

5

Trustees annual report for the charity Peeple

1. Introduction

This report covers the period from April 2021 to March 2022. In many ways it was an exciting time. The new ways of supporting families and training practitioners that we developed last year had their benefits. Working remotely as a staff team around the UK became surprisingly easy. And, after being apart for so long, we really appreciated being together and deepening the relationships that are at the heart of what we do. Our resilience as an organisation has grown and strengthened. A great deal has been done. Much has been achieved.

However, it has also been a tough year. Lockdown restrictions were lifted in July 2021, but our training and service delivery continued to be disrupted by sickness. And, although excited by the prospect, many of us found it unexpectedly challenging to get back to ‘normal’.

Our job is to see the world through the eyes of babies and young children. For those born during or just before the pandemic, it was ‘normal’ to grow up in a family deprived of social contact with relatives, friends and neighbours. It was ‘normal’ to grow up without the company of other children. It was ‘normal’ to have parents* who had little professional or community support and who were trying to balance childcare with work.

Growing up with these circumstances as ‘normal’ had an impact. According to a YouGov survey of primary school teachers in 2021, 50% of children were not ready to start school. One teacher said “We’re seeing impacts on speech and language and social skills. Some of them are Covid babies so they've not known anything else - we're seeing some delayed speech and language as well as less development.”

While all children have been affected, it is not surprising that the most disadvantaged have been hardest hit. We can only imagine the long-term consequences as we know that schools find it hard to help children who start behind to catch up. Action is needed.

Every parent wants the best for their children. We are committed to helping create a society in which all parents get support in their vital role in shaping their child’s future. Together with the support of our amazing staff and wonderful funders, we look to the future determined and optimistic that we can continue to provide families with the help they need to do more of the little things that make a big difference for their children.

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

Sally Smith Mark Harris CEO Chair of trustees.

6

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

We believe that relationships are at the heart of learning.

We believe in the potential of every parent, every carer, and every child.

We recognise parents and carers for what they already do and help them to do more. We believe that lives can be transformed by building on everyday learning experiences. We recognise the importance of reflecting on the world through the eyes of others.

7

5. Why our work is needed

Brains are built not born; they are shaped by interactions with those around them. The more sensitive, responsive, and dependable these interactions are, the better.

Relationships matter a lot! They lay the foundations which help children become resilient when faced with adversity– and ready to learn to their full potential.

There are class-based differences in children’s outcomes by 22 months, which are increased by age five and continue to widen into adulthood. As a group, children who start less well-off end up less healthy, less wealthy and with fewer advantages to pass on to their children.

These inequalities develop very early. For example, significant differences in language between low and high socioeconomic status babies are measurable by 15 months of age.

The single biggest predictor of social mobility for children from lower income backgrounds is vocabulary at age five – those with a wider vocabulary are more likely to do well.

Another important influence over how well children do in school and beyond is the quality of the Home Learning Environment – the everyday things which parents do at home with their children such as singing, playing, talking, and sharing books and stories.

8

Research has found that the quality of the Home Learning Environment is more important for intellectual and social development than parental occupation, education, or income.

Books are brilliant for brains: they help to increase vocabulary, stimulate the imagination, and encourage empathy. Children who have a favourite book are more likely to become confident readers and writers when they grow up. One study found that children who had been read to regularly at age five were significantly less likely to be poor by the time they were 30.

It helps when parents understand more about how their children develop and learn, and when they believe that they can make a positive difference in their children’s lives.

The benefits of healthy early development last a lifetime and are carried into the next generation, influencing how they parent their children.

The pandemic has affected all families, but the poorest families have been hardest hit.

Early intervention is vital to give all children the best start in life, but government funding for early intervention and preventative services remains uncertain – many families continue to depend on services provided by third sector organisations, including those provided by Peeple.

9

  1. Theory of change Attainment gap narrows Children's language, cognitive & socioemotional outcomes improve Quality of relationships between parent5 & their children improve Quality ofthe Home Learning Environment improves Peep Learning Together Programme embedded in pollcv Education level &lor aspirations of parents irnprove WHY Parenis believe they can make a positive difFerence to theirchildren's li￿5 rents engage more in learning. volunteering or employment Prathtioners upskilled In child development & how to work with parents Parents do more to support their children to learn throu8h play & everyday athvities Parent5 know more about how children learn & develop Policy leid5to aedon v4hi¢h support5 parent5 & irnproves Early Learning & Childcare Prowide rnore support for trained practitioners Accredit more parent5 With Peep Progre￿10￿ Pathway units Share evidence & good practice with the Early Years Sector, policy makers & researchers Train & accredit more HOW practitioners to deliver the Peep Learnin8 To8ether Pwramrne Provide mtrre sÈrvite delivery f¢rfamilies with childrÈn Trs Training, accreditation & support for practitioners Accredited learning for parents Resources for Service delivery including. Little Peeple Nursery parents Gathering & sharing Evidence WHAT Peep Learning Together Programme Peep ProKresslon Pathway io

7. Objects, activities and aims

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.

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.

Aims 2021 – 2022

To increase the use of Peep programmes across the UK and internationally. To improve and extend the Peep Progression Pathway throughout the UK. To develop new interventions.

To extend our role as a frontline service provider in Oxfordshire. To deliver high quality early education and care via the Little Peeple Nursery. To influence national debate and policy.

11

8. Achievements and performance (2021 - 2022)

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

“The Learning Together training was a marvellous experience and great learning opportunity.” Practitioner

"We get to know each other at Peep. We talk and share ideas and I feel really supported …We have loads of fun with our kids but we are all learning how to do things - how to be the best mum I can be. That's really important."

Parent, Ayrshire

12

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

The Peep Progression Pathway is a suite of qualifications for parents embedded in the Peep Learning Together Programme. The qualifications are often a first step for parents into volunteering, training, or employment. Take up of the Pathway was badly affected by the pandemic so this year we focused on maintaining the infrastructure and adding to the resources for the future.

----- Start of picture text -----
“I have been much more aware of words in
the outdoor environment since doing the
course and am now often pointing out
road signs and all kinds of writing while
out and about.”
Foster Carer
----- End of picture text -----

13

Aim 3: to develop new interventions

Exploring Together

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

We hope that STEM will become something that practitioners and parents are excited, rather than anxious, about and feel ready to help children fulfil their potential to become the scientists, engineers, mathematicians, programmers and inventors of the future!

START

The START Project aims to help toddlers with a family connection to autism or Attention Deficit Hyperactivity Disorder (ADHD) to develop strong attention, regulation and thinking skills. It is led by Dr Alexandra Hendry, a developmental psychologist at the University of Oxford, and funded with a five-year grant from the National Institute of Health Research. The START programme is based around the Peep Learning Together Programme, and we are partnering with The University of Oxford on the project.

14

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

This year we provided a mix of online and face-to-face support for families:

Online Peep sessions

“So welcoming and the simple, repetitive but engaging structure is brilliant. We look forward to them.”

Parent

In-person sessions

We delivered:

Foster Carer

“My heart pains when I think that my parents are no more, but this group helped me to come out of my low moods. We enjoyed learning all topics, I made shakers and streamer and also now made a small treasure basket from my kitchen stuff.”

EAL Parent

15

Interactive Newsletters and social media posts

“The resources are SO useful – parents tell us that they refer to them between the sessions and share them with other family members! It’s a lovely way to support the learning to continue at home.” Practitioner

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:

“My 2 and 4 year olds just love getting their post! Ripping the envelope open to see what adventures are inside!”

Parent

“I have 3 older children and they love to read to my 5 month-old, so they get excited when a new book comes through the post.”

Parent

16

Growing Minds

Growing Minds* is an innovative collaboration between Peeple, Home-Start Oxford, the Berin Centre and Oxfordshire Community Foundation, which aims to narrow the attainment gap before school. Growing Minds is:

Growing Minds started in January 2020, so was seriously impacted by the pandemic. However, we have now recruited 277 families who are offered a pathway of support which includes the Dolly Parton Imagination Library, home visits, Peep Learning Together groups and a variety of other community-based activities. Our annual survey found that:

----- Start of picture text -----
“They’ll send me a monthly book that is very helpful,
and he’s really found it good.
He just can’t live without books now.”
Parent
----- End of picture text -----

* Growing minds was made possible by Our Common Good and funded by a consortium of donors via Oxfordshire Community Foundation.

17

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. Opened in 2018, it was built by Peeple in partnership with The Oxford Academy and Oxfordshire County Council.

families.

Little Peeple practitioner who completed the Early Years Educator Level 3 with distinction

““You guys are amazing! This has been such a tough year, but you are always so welcoming and supportive of our small people and us parents.”

Parent

“Thank you all so much for the loving and thoughtful care you have shown B and P since they started, it is incredible how consistently positive everyone in the team is and we really appreciate it. You’re the best!”

Parent

18

Aim 6: to contribute to national debate and policy

In December 2021, we held a celebration event for the Family Learning Scotland project, a contract with Scottish

Government to train and support practitioners from every local authority to deliver the Peep Learning Together Programme to enhance the quality of their Early Learning and Childcare provision. We were delighted that the event was addressed by Clare Haughey, MSP, Minister for Children and Young People.

“You have supported families from across the country to engage more effectively with their children’s learning and development.”

Clare Haughey, MSP Minister for Children and Young People Family Learning Scotland Celebration December 2021

A legacy of the Family Learning Scotland Programme is a network of Peep Champions, set up in Scotland and now extended to England, to ensure that Peep Programmes are effectively embedded into local services.

We provided educational consultation for the popular BBC CBeebies Programme, The Toddler Club (Series 1 and 2) including a week on set in Salford. The Programme was nominated for a Royal Television Society Award.

During the year we have continued to campaign, 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.

19

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.

Programme Structure and Content

20

XZJl> 4 21

9. Financial review

The gross income for the Group (comprising the charity and its trading subsidiary, Peep Learning Ltd) in 2021-22 was £1,131,693 (2020-21: £941,269). Total expenditure of the Group in the year 2021-22 was £1,035,613 (202021: £876,318) giving a surplus overall of £96,080. Peep Learning Ltd achieved a surplus of £132,611 (up from £1,135 in 2020-21 when sales were badly affected by Covid-19) before making a donation to Peeple.

Peep Learning Ltd (PLL) training returned to a similar level to pre-pandemic years, benefitting from some PLL customers having deferred training from the previous two years whilst costs were reduced as most training continued to be delivered online.

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, 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 Peep Progression Pathway in different parts of the country. The main two-day training is known as the Peep Learning Together Programme Training. One-day training courses 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 2021-22 £132,450 was transferred by donation to the charity.

10. Future plans (2022 – 2024)

To train and accredit more practitioners to support more families with their young children’s learning. To provide more support for trained practitioners. To accredit more parents with Peep Progression Pathway units. To support more families in Oxfordshire.

To provide high quality early learning and childcare at the Little Peeple Nursery.

To develop new interventions. To contribute to national debate and policy.

To ensure good governance, management, and infrastructure.

22

11. 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 £230,000. As of 31st March 2022, the total unrestricted reserves were £320,403 (31.3.21 = £208,128); trustees have agreed to set aside £70,000 from unrestricted reserves in a designated premises development fund aimed at securing our own permanent premises.

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

12. 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 2021-22 and steps taken include:

13. Structure, governance, management and staff

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 Professor Mary Wild

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.

23

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 online 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. 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.

Staff

Peeple had an average of 40 employees during 2021-22. Of these, 19 were in early education and childcare roles, 10 worked in local programme delivery, 8 worked in training and accreditation including 3 based in Scotland and 3 worked in the Head office functions of CEO, senior management, finance & HR and general administration. The total full-time equivalent staff in March 2022 was 28. All professional staff have significant skills and knowledge in the field.

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.

The trustees confirm that:

24

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

On behalf of the trustees/directors

Date: 7[th] December 2022

Mark Harris

25

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

PEEPLE AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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

26

PEEPLE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE YEAR ENDED 31 MARCH 2022

Opinion

We have audited the financial statements of Peeple for the year ended 31 March 2022 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.

27

PEEPLE INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE (continued) YEAR ENDED 31 MARCH 2022

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:

28

PEEPLE

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PEEPLE (continued) YEAR ENDED 31 MARCH 2022

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

15 November 2022

29

PEEPLE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted Total funds Total funds
funds funds 2022 2021
Note £ £ £ £
INCOME
Income from donations and legacies 5 310,375 203,727 514,102 503,561
Income from charitable activities
Sales of publications and training 5.1 280,844 - 280,844 86,921
Nursery income 5.2 314,183 - 314,183 253,095
Government grant 1,010 - 1,010 68,578
Other income 21,554 - 21,554 29,114
Total income 927,966 203,727 1,131,693 941,269
EXPENDITURE
Cost of generating funds - publications and training 39,152 - 39,152 12,384
Cost of generating funds - other 8,874 - 8,874 9,985
Charitable activities 6 763,370 203,727 967,097 836,854
Governance costs 7 20,490 - 20,490 17,094
Total expenditure 831,886 203,727 1,035,613 876,318
NET INCOME /(EXPENDITURE) AND NET 96,081 - 96,081 64,951
MOVEMENT IN FUNDS FOR THE YEAR
Reconciliation of funds
Total funds brought forward 492,885 - 492,885 427,934
TOTAL FUNDS CARRIED FORWARD 588,966 - 588,966 492,885

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

30

PEEPLE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2022

Group Company Company
2022 2021 2022 2021
Note £ £ £ £
FIXED ASSETS
Tangible assets 10 284,603 307,209 282,133 304,519
Investments 11 - - 66,514 66,514
Total Fixed Assets 284,603 307,209 348,647 371,033
CURRENT ASSETS
Stocks 7,019 9,792 - -
Debtors and prepayments 12 54,279 223,720 33,744 76,229
Cash at bank and in hand 574,447 439,583 378,432 352,324
Total Current Assets 635,745 673,095 412,176 428,553
CREDITORS: Amounts falling due within one year 13 288,882 442,419 174,662 310,344
NET CURRENT ASSETS 346,862 230,676 237,514 118,208
CREDITORS: Amounts falling due after more than
one year 42,500 45,000 - -
TOTAL ASSETS LESS LIABILITIES 588,966 492,885 586,161 489,241
RESERVES
Restricted income funds 14 - - - -
Restricted capital funds - - - -
Unrestricted funds Designated property fund 15 268,563 284,757 268,563 284,757
Designated premises fund 70,000 - 70,000 -
General funds 250,403 208,128 247,598 204,483
TOTAL CHARITY FUNDS 16 588,966 492,885 586,161 489,241

The trustees have prepared the group accounts in accordance with section 398 of the Companies Act 2006 and section138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of theCompanies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006.

Approved by the Trustees on: 13 October 2022

Mark Harris Chair of Trustees

The notes form part of these financial statements

31

PEEPLE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

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		 2022
£
96,080
28,732
-
-
(138,879)
2,773
169,441
(17,158)
140,990
-
140,990
(6,126)
-
(6,126)
-
-
134,864
439,583
574,447		 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

The notes form part of these financial statements

32

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

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 2022. 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. Intragroup 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.

Impact of COVID-19

According to the trustees, as at the date of signing the financial statements, Covid-19 was considered to have had minimal impact on these financial statements apart from previous delays in delivering training and programmes that meant some funds were brought forward from the previous year. The trustees continue to monitor the impact of this pandemic and to make adjustments to the financial plans as necessary.

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:

33

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (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:

Lease premium - 20 years
Freehold property - 4 years and 10 years
Fixtures, fittings & equipment - 3 years

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 wheresuch 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.

34

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (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 £20,485 (2021: £18,637). The pension expense is allocated in line with the salaries to which they relate.

4. SURPLUS FOR THE YEAR 2022 2021
is stated after charging/(crediting): £ £
Restricted funds and donations received 203,727 121,800
Restricted capital grant - -
Trustees and officers indemnity insurance 337 337
Restricted fund expenditure 203,727 121,800
Auditors remuneration Audit of the financial statements 6,500 6,600
Other services 1,800 1,800

The surplus dealt with in the financial statements of the parent company was £95,920 (2021: £64,817 surplus).

5. INCOME

INCOME FROM DONATIONS AND LEGACIES
Brotherhood of St Laurence
BBC Children in Need
Charity of Sir Richard Whittington
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
University of Oxford START project
Donations and legacies		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 2022
Funds 2021
£
£
£
£
- -
- 19,433
- 9,144
9,144 8,812
- 81,893
81,893 -
10,000 -
10,000 20,000
25,816 -
25,816 35,156
- -
- 10,000
- -
- 20,000
- -
- 38,500
- -
- 2,988
51,120 -
51,120 55,201
3,994 -
3,994 10,794
7,500 -
7,500 -
- -
- 3,000
183,165
110,000
293,165 261,876
10,985 -
10,985 3,662
- 2,690
2,690 -
17,794 -
17,794 14,140
310,374 203,727 514,101 503,561

5.1 SALES OF PUBLICATIONS AND TRAINING BETWEEN RELATED PARTIES

The total sales by Peep Learning Limited in the year were £281,019, of which £175 was to Peeple itself. Therefore, on consolidation,the sales of publications and training are £280,844 (2021: £86,921).

5.2 PRE SCHOOL AND NURSERY INCOME

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

35

PEEPLE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (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
2022
2021
£
£
£
£
£
753,155
97,592
116,350
967,097
836,854
55,925
60,425(116,350)
-
-
809,080
158,017
-
967,097
836,854
(Note 8)
(Note 9)
UnrestrictedRestricted
Total
Total
Funds
Funds
Funds 2022 Funds 2021
£
£
£
£
8,637
-
8,637
8,480
6,500
-
6,500
6,690
5,353
-
5,353
1,923
20,490
-
20,490
17,094
2022
2021
£
£
738,776
633,172
49,818
43,052
20,485
18,637
809,080
694,862

The average number of employees during the year was 40 (2021: 41). There were 29 (2021: 29) 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 2022. Expenses of £nil were reimbursed (2021: £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
ANGIBLE FIXED ASSETS
Group
Lease
premium
£
Cost
At 1 April 2021
322,321
Additions in year
-
Disposals
-
At 31 March 2022
322,321
Depreciation
At 1 April 2021
37,564
Charge for the year
16,195
Adjust re disposals
-
At 31 March 2022
53,759
Net book value
At 31 March 2022
268,563
At 31 March 2021
284,758		 Freehold
property
£
84,809
-
-
84,809
84,809
-
-
84,809
-
-		 2022
£
62,780
15,723
9,056
29,054
2,911
109
7,741
-
1,911
28,732
158,017
Fixtures,
Fittings &
Equipment
£
70,946
6,126
-
77,073
48,495
12,537
-
61,032
16,041
22,451		 2021
£
53,947
4,838
8,638
31,260
1,605
63
5,897
8,837
812
26,096
141,992
Total
£
478,077
6,126
-
484,203
170,868
28,732
-
199,600
284,603
307,209

10. TANGIBLE FIXED ASSETS

36

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

10. TANGIBLE FIXED ASSETS (continued)

Company
Cost
At 1 April 2021
Additions in year
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Adjust re disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Lease
premium
£
322,321
-
-
322,321
37,564
16,195
-
53,759
268,563
284,758		 Freehold
property
£
23,201
-
-
23,201
23,201
-
-
23,201
-
-		 Fixtures,
Fittings &
Equipment
£
53,229
4,755
-
57,984
33,468
10,946
-
44,414
13,570
19,761		 Total
£
398,752
4,755
-
403,507
94,233
27,141
-
121,374
282,133
304,519

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 2022, the net asset value is £69,325 (2021: £69,164). The turnover for the year was £281,019 (2021: £88,186) and the net profit was £161 (2021: £135), after a donation to Peeple of £132,450 (2021: £1,000).

12. DEBTORS
Trade debtors and grants receivable
Amount owing by group undertakings
Prepayments
Accrued income
Other debtors		 2022
2021
2022
2021
£
£
£
£
46,121
155,879
9,011
10,039
- -
19,357 -
3,583
1,975
801
324
4,075
65,366
4,075
65,366
500
500
500
500
54,279
223,720
33,744
76,229
Group
Company
13. CREDITORS: Amounts falling due within one year
Trade creditors
Amount owed to group undertakings
Other creditors
Taxation and social security
Deferred income
Accruals
Amounts owed to group undertakings		 2022
2021
2022
2021
£
£
£
£
7,687
16,835
4,905
15,330
-
-
-
70,650
7,237
7,136
932
1,277
34,046
39,657
11,965
12,879
186,845
336,162
110,035
172,882
53,067
42,629
46,826
37,326
- -
- -
Company
Group
288,882
442,419
174,662
310,344
Deferred income brought forward
336,162
66,459
172,882
34,602
Utilised in the year
(301,582)
(66,314)
(172,737)
(34,457)
New income
152,265
336,017
109,890
172,737
Deferred income represents amounts received from grants and training sales in respect of subsequent trading periods. The
reconciliation is as below:
Deferred income carried forward 186,845
336,162
110,035
172,882

37

PEEPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

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
grants
grants
Total
£
£
£
203,727
203,727
(203,727)
- (203,727)
-
-
-
-
-
-
-
-
-
-
-
-

15. UNRESTRICTED FUNDS

The split of the unrestricted funds is as follows:

Balance brought forward
Movement during the year
Transfer to premises development fund
Balance carried forward		 General
funds
Property
Premises
Total
£
£
£
£
208,128
284,757
-
492,885
112,275
(16,194)
-
96,081
(70,000)
-
70,000
-
250,403
268,563
70,000
588,966
Designated funds

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.

The designated premises development fund was created to set aside funds for the development of permanent premises for Peeple. At the year ended 31 March 2022, the trustees agreed that £70,000 should be transferred from general funds to the designated premises development fund.

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

Tangible fixed assets
Net current assets		 Unrestricted Restricted
funds
funds
Total
£
£
£
284,603
-
284,603
304,362
-
304,362
588,966
-
588,966

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.

17. 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.

38

z