Registered nurnber: 09765432 Charity number. 1165416 NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limlted by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) CONTENTS Page Referen¢e and Administrative Details of the CharFty, its Trustees ond Advisers Chaimlan's Statèm•nt Trustees. Report Independent Examlnerfs Report Statement of Financial Activitles 4-10 13 Balance Sheel 14-15 Notss lo the Financial Statemt$ 16-26
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Honorary President Sir Philip Craven MBE Honorary Wice Presidents Sii Henry Aubrey-Fletcher Baroness Tanni Grey-Thomp50n D8E DL Tim Hollingsworth OBE Baron Chris Holmes MBE Sir David Lidington KCB CBE Eva Loeffler 08E Paul Mainds BEM Tim Reddish C8E Oliver Stocker¢ CBE Trust8•S Nigel Purse. Chair Helen Adams, Trustee Emma Boggis, Trustee (resigned 1 January 20221 Clive Harriss, Trustee Gaele Lalahy, Tru$tee Jessica Macbeth, Trustee Rachel Maguire, Trustee Martin McElhatton, OBE, Trustee Sophie Payne, Trustee Anna Scott-marshall, TTUStee Professor Nick Webborn 08E. TTUStee (appointed 1 January 20221 Susan Wolstenholme OBE, Twstee Company regi5ter•d number 09765432 Charity registerad number 1165416 R•gist&red offi¢e Stoke Mandeville Sport$ Stadium Flarvey Road AesbUry Buckinghamshire HP219PP Chief executlve offKer Vicky Hope-walker Indep•ndent examlner Martin Bailey FCA Goodman Jones LLP 29130 FitJoy Squaie London W1T 6LQ Page 1
NATIONAL PARALYMPIC HERITAGE TRUST IA Cornpany Limited by GuardntÈe) CHAIR'S SUMMARY FOR THE YEAR ENDED 31 MARCH 2022 2021122 was our fifth fvlty operational year on our mission to celebrate, cherish and bring the Paralympic Heritage and its stories of human endeavour to life. What better way to celebrate this than the granting of our status as a Nationalty sed Accredited Museum by the Arts Council in Mar¢h 2022. This puts the NPHT on an &gual footing 1th many largèr national estsblishments and recognises our collection and work as being of national and international slgnificance. At the start of the year and following government guidelines, we planned our re-opening. We took managed bookings only from mid-June and were finally able to move to a full reopening of the Heritage Centre at the very end ¢)f July. It has been wonderful to welcome visltors face-to face once more, and although numbe1$ have been overall about 40°/0 fewèr. (a similar story to many CUlra] organi8ationsl, they rose steadily across the remainder of the financial year. In terms of project delivery, the impact of the pandemic has been to compress some implementation. We are however delighted to say that, as wth the previous year, our key funders - the Nats"onal Lottery Herf(age Fund. the Rothschild Foundation and HS2 Community Fund have remained flexible and very supportive. We have continued to balance fa¢e-tO-face with online delwery and the Meet the PaTalympian Evenl has grown to approximately 1,500 children via Zoom each tlme. It was awarded Ihe Sports Heritsge prize for Event of the Year. Our digital presence continues to strengthen, Prolding access to more and more people. It was significantly helped by the Google Arts and Culture partnership launch, leading to 22,000 website visits on the first day. Over the year we have seen 65,000 website users, a record number. Two of our major progr8mmes of Work have been very busy. Firstly, 'Digttal Explorations, have trained over 16 neurodiverse people across the year in 3D scanning, our target of 48 objects has been achieved and we have started developing the 3D virtual gallery co-curaled by the partleipants Secondty, Stories from BuckinghamshiTe have reached 11 out of Ihe 22 partner communities biinging in Paralympians, disabled artists, the pop-up museum and wsits to the Heritage Centre from communities and their $¢hools. There have been numerous other small-scale projects along the way and we are particulady proud of our sensory needs access developmenl, enabling our displays lo be 8ccessible to group$ with severe needs, helping us build toolkits to enable valuable engagement and lo share our skills acr085 the wider herltage sector. Page 2
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guar8nteÈ} CHAIR'S SUMMARY (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Collections and archives remain at the heart of our work and in ¢ollaboration with Buckinghamshire Archives and Discover 8ucks Museum we have managed to make Some big strides forward in box-listing items and sharing them through our website to provide access for researchers. This 15 a massive task and wll lake some yeaTS to complete, but we are getbng there with a huge effort on volunteer recruitment and support. the appointment of a lead archivist provided by Buckinghamshire Archives, the input of our own stsff and a very productive six-mortrth placement from ouf PhD sludenl Sam Brady. Sitting alongside this has been a wonderful oral history PTojecl recording over 50 new stories and uncovering wonderful personal colledions and training 12 people to continue the work. The Trust has also played a Tole over the past 12 months in supporting the Paralympic Heritsge Flame lighting events for the Tokyo 2020 Summer Games {delayed a year) and the Beijing 2022 Winter Games. This reminds 115 of the importan¢e of place, there our Heritage Centre is based, the birthplace of tho Paralympic movement. On reflection, the pasl year has also been ontr of ¢r¢gtillg the foundations for activities launches that wiu lake place in 2022123. For example, the 3D Gallery., a virtual regional museum that any small venue can ublise lo celebrate their Paralympic heritage., and an App trail linking our displa al Stoke Mandewlle Stadium to those at the National Spinal Injuries Centre. In terms of resilien¢e, we re¢èlved Some additional support from the Roths¢hild Foundation and the National Lottery Heritage Fund to support the appointment of a Trusts and Foundation Fundraiser and a Corporate Fundraiser, s¥ho have recently started us. We also reviewed our fundraising strategy. bringing in an experienced outside Gonsultsnt who has proved invaluable in our planning for the future. My sincere thanks go to our Chief Executive Officer, her small team and Our volunteers %tho have helped us re- open, re-configure and move forward, fulfilling our goals and in many instsnces oulpertorming our targets. Aso, l extend my thanks to my fellow Trustees and our Founding Partners The British Paralympic Association, WheelPower- British Wheelchair Sport and Buckinghamshire Council. This has been my fourth year as Chairman of thi$ great TNst. I remain hugely proud of the work we have managed to achieve over the past year and the Creative response, utili5ing our time wisely and for the benefft of years to come. Next year is our biggest challenge as our three main funding streams come to an end in a difficuh funding Market. That said we are well equipped wth exciting programmes of work that will build on our Strengths in the fields of disabilty alld deaf heritage access and digital innov8ti0n. Nigel Purse Chairman Date= Page 3
NATIONAL PARALYMPIC HERITAGE TRUST IA Con7pany Lirnlted by Guarant8el TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together wth the financial statements of the Charity for the year 1 April 2021 to 31 March 2022. The Annual Report setves the purposes of both a Trustees. Report and a Directois, Report under company law. The Trustees confirm that the knnual Report and financial Statements of the ¢harrtable company comply th the CLsrrent statutory requIreentS. the requifements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021 {effeclive 1 January 20191. Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of methum and large companies under the Companies Acl 2006 Istrategic Report and Directors. Report) Regulations 2013 has been omitted. Objectives and activiti•s . Purpose$ and aims Purposes and aims The objects of the charity are.. The advanoement of culre and heritage, and in particular the culture and heritage of the Paralympic movement in the United lQngdom and the role of Stoke Mandeville as 1he birthplace of tt)e Paralymplc Movement. and the promotion of public understanding and enjoyment ol the same The promotion of positive public perceptions and greater understanding of disability at both national and intemational levels. The charity may a150 advance such other purposes that aTe exclusively charitsble according to the law of England and Wales as the Trustees in their absolute discretion think fit. Public benefit The TTUStees have complied their duty to have due regard to the guidance on public benefft published by the Charity Commission. The Tru$t6es have considered the requirements of the public benefit test and are satisfied that the Charity's activities meet th&8e criteria. Page 4
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantée) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Objectivès and activities (continued) b. Objectives and strategies The ¢harity'$ mission is 'to enlighten and Insplre future generations by ¢elebrating. Chertshing and bringing the Paralympic Heritage and its Stories of human endeavour to life,. The project delrverables from 2017 to the end March 2023 have been defined and adjusted as a result of the pandemic as follows.. Establishmenl of an accredited colleclion and archive of national and international importance. pre$eNng history that would otherwise be lost. Establishment of a permanent Heritage Centre at Stoke Mandeville Stadium. Regional exhibitions nationwi(le including Nomch, Bradford, Keighley, Bath, London. Oevelopmenl of a virtually augmented exhibition enabling small scale venues to celebrale their Paralympic and disability sport histories in permanent virtual displayE. Pop-up displays that tour the country. Permanent displays for patients and vistors to the National Splnal Injuries Centre at Stoke Mandeville Hospital. A website and virtual museum which wll allow people to upload and share their own stories. Establishment of creative learning and engagement resources and an associated programme. Charitable obleth.ves lch allow for expansion of responsibility for delivèring the Heritage Flame Lighting ceremonies at stoke Mandeville for both summer and nter Paraly7npics. Underpinning all the above wll be the assurance of the highest access and equalsty standards, maintaining our lead across Ihe heritage sector in this field. In addition over the past year we have developed and shared $ome pioneering pilot work in access wth and for people with severe sensory needs. c. Volunteers Volunteers, who include the TN$tees, form a key part of the organisation. Volunteers have already carried out Gonsiderable work in developing the new website and researching into collections and felevant interesting stories, as well as suppOng exhibitions, leaining and engagement. The volunteer base has gfovm and diversified Considerably in the past year. and several are plawng a major role in the care of collections. Page 5
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarante•l TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 A¢hiovémonts and porfomian¢e . Main achievempnts of the Charity The year to 31 Morch 2022 Is the fifth year ol the original 5, now 6-year. development strategy for the National Lottery Heritage funded project. During thi$ year we have been able to reopen the Heritage Centre. welcomlng group tours and outreach to communities, whilst maintaining the option lor vithal engagement. In line with our 2021-2023 business plan we have achieved thè foNowing over the past year.. ren thenin or ani Achieved 2021122 Awarded Nationalty Styled Museum Accreditstion thereby a¢knoedging the national and internatlonal importance of the organisation Reviewed organisational strucle Thts ytrai ahead 2022123 Development if a five-year strateoy for 2023-28 ers Achieved 2021122 Created a new 5-ye8r fvndraising Strategy Raised funds to support tr40 fundraising posts The conlinued building of existing and new path&rships Reached fundraising targets Established and implementaed digitsl fiJndiai5ing options including Amazon Smlle and Text lo donate Appointed of a new Finance Manager The year ahead 2022123 Strategic and financial planning for 202>28 and buildin Achieved 2021122 Promoted a new leafning offer for schools and further and higher education Implemented a new newsletter format Google Arts and Cuhure partnership launched leading to 22.000 website vists on the first day Developed a new social media approach and toolkit Met social media audience building targets achieving over 450,000 impressions Launched TikTok for young audiences with a reach of 25,000 in oui first stx weeks 65,000 website useis, a record number Revlewed evaluation processes The year ahead 2022123 Building London audiences Building Buckinghamshire audiences Development of tourisl market Development of a new marketing strategy202>28 olle ions talo Achievements 2021122 Revised archives and collection5 plan and archivist recruited to lead the work Created and implemented a new donatrons records system 17 collections donated, including a wonderful giant photograph from London 2012 opening ceremony, now on permanent display in the 8uckingham8hire Archives 50 new oral stories collected Page 6
NATIONAL PARALYMPIC HERITAOE TRUST IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievements and performance IcoTrtinu8dl Recruited and trained 8 new volunteeTS to support the cataloguing and oral hislory work Accessioned collections made available oriline Completed the accessioning of 13 more collections The year ahead 2022123 Complellon of Sooh of the WheelPower_ British Wheelchair Sport collection Completion of 8 more small collections Fundraising to $e¢ure the continued support of professional archivlst and collections staff Sharing nY accessioned collections eerb Achieved 2021122 Developed and implemented a new formal learr¥lng offer for schools and furthef education colleges Developed 98 face-to-face and virtual activlties fof schools, universitles, families, special education. disability groups and adults Acl¢vities delivered included 5 Meet the Paralympian events a mix of virtual and face-to-faee sessions. 8 family events. 9 arbst residencies, 9 Special events. 23 tours {mainly face-to-face} and work 46 school classes Continued volunteer recruitment, developmerrt and training, supporting collections, l&arning, tours, virtual and outreach work Developed online school curTiculum resources leading to a sharp increase in download5 from the website Stsft training including dlsability awareness, oral history, markeling. collections care, safeguarding, u$e of ladders, costume labelling, covid risk assessment and guided touring DBS checking $EleM put in place and staff and volunteers Established the 'Digitsl Exploration, Rothschil(l impact grant programme, wlth the trainlng of 16 neurodiverse people and the scanning of 48 objects foi the collections the creation of the 3D photographed collecttons archive on the website Delivery of 11122 programmes of work as part ol the 'Stories From... Bu¢kinghamshire' the HS2 community proje, ty)duding artist re$iden¢ie5. workshops, meeting Paralympians, assemblies, and visits to the Heritage Centre Support of our PhD students Featured in the Great British Railway Jouiney with Michael PO110, broadcast nationally on Channel 4 Loan of items to Japan House celebrallng Tokyo 2020 Developed Module 1 for Liverpool's John Moores Unlversity. a free intemational disabillty sport coaching course Celebrated women in business on Intemats'onal Women's Day with local prisons and a talk by Tanni Grey- Thompson DBE DL The year ahead to 2022123 Launch of the Meeting Point art comrnission wth intemational arlist Jordon Baseman Employment of neurodiveTse team to delThier photogrammety workshops to SEND schools Development of a Paralympic Trail phone app sharing the ri¢h heritage of the Paralympi¢s a¢ross the Stoke Mandeville area Continue to deliver the leamlng programme and outreach to 11 more communities as part of the 'Stories from... , the HS2 fvn(led programme Page 7
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Lirnited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievernents and perfom)ance Icontlnued) oneeririg digital delivery and engagement Achievements 2021122 Worked in pathership Google Arts and Culture. Panasonic and Channel 4 around the Tokyo 2020 Summer and Beijing 2022 Winter Games Pafaly7npic Hertsge Flame Lighting Ceremonies Produ¢ed holiday activity digitsl downloads for those who cannot travel to visit Website review and updating Researched into the value of'engagement and leaming, through social media The year ahead 2022123 Developmet)t and launch of the 3D for 'Digitsl Explorations. Rothschild Impact grant project Launch of wrtual regional exhlbilion th Chard Museum Development of a new digital strategy 202>28 Financial review a. Oporating model and risk The Trust is supported by the National Lottery Her¢tage Fund I'NLHF'I and there is an inÉti'al six year 'delNery period, wth the NLHF vthich Tuns from 2017-2023. In broad terms the NLHF providès 500/0 of all expenditure Nwth the other 500/0 being provided by the Founder Members and thiid-paty trusts, benefactor$ and donations. The greatest risk for the NPHT is achieving on-going financial sustainability and meeting income targets. The pressure on ChareS to achieve funding in an already difficult economic and polibcally uncertain environFnent has been magniffied by the ongoing impact of the Covid-19 pandemic. NPHT faces these ¢hallenges by carefully managing its fvndraising and expenditure activitses and in this past ye8r the NPHT has reviewed its lundraising plan, as well a$ a¢hieving financial support for fundraising posts for 2022123, the final year of the currer¢t MLHF grant. NPHT'S Heritage Centre Is a small museum and does not receNe income from museum entry fees or 8hop sales. b. Flnancial result for the year Income for the yeai totalled £375,004 12021. £224,047?. Expenditure totalled £337,144 12021.. £252,65n. Overall, the Charity made a Surplus for the year of £37,860 {2021.. £28,610 defiut). Most of our fvndlng ts resthcled funding, and we our very grateful to all of our funders for their 8ilPPOrt, including.. National Lottery Heritage Fund, British Paralympic Association. Wheelpower British Wheelchair Sport, Buckinghamshire Council, Vale of Ae&bury Housing Trust, Heart of Bucks, Rotary Club, Rothschild, GroundworklHS2, and Royal Pavilion. c. Going ¢on¢em After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable fvlure. For this ieason, they continue lo adopt the going concem basis in preparing the financial slalements. Further details regarding the adoption of the going con¢ern basis can be found in the ac¢ounting policies. d. Reserves policy The Trusfs reserves policy is to ensure that there are suffi¢iet)t reserves to oover a minlmum of six morth8' worth of operating ¢osts. As at 31.03.22. the Trusl had in excess of this. Page 8
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantèè) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Principal risks and uncertainties The Trustees have Implemented o new risk management strategy. %thich comprises.. quarterly review5 of the rrdks which the charity may face by the Finance & Development Gommittee and fhe Board of Truslees the establishment of systems and procedures to mTbgate those risks identified in the review implementation of procedures designed to minimise any potential impact on thè ehaiity. should any of those risks materialise This work has identified key rlsk8 relating to= aohieving revenue targets. whi¢h is mffjgated by focus on and regular SGfutiny of income and potential income streams safeguarding of the Paralympic heritage collection. ar¢hiving work and the ongoing provision of space and SUPPOrt for the permanenl National Paralympic Heritage Centre located al Stoke Mandeville Stadium. To miéigale the risk, service level agreements are in place or ale being considered wth the appropriate partie8 strUcre9 govomance and rnanagement a. Constltution The NPHT is a company limited by guarantee, Incorporated on 7 September 2015 and governed under its Memorandum and Articles of Association. The NPHT was iegistered with the Charity Commission on 3 February 2016. b. Appolntfflent of Truste The strategic management of the ¢harity is the responsibility of the Trustees (the °Board"l are appointed by its Members undei the terms of the Articles of Asso¢lation. ¢. Oryani$*ional stN¢ture and decisionwmaking policie5 The NPHT is managed by a Board of Trustees which meets four Imes a year. The Finance & Development Commrttee, a sub-committee of the Board of Trustees. meets at a minimum of four times a year and reports back to the Board. A Chiel Executive Officer is appointed by the Trustees to manage the day40-day operations of the Trust and additional persons are eontracted to manage specific area$. The Trusl liaises closely th its lawyers, accountsnts and other professional advisers. d. TTUStee induction and training A general tntroduction to the NPHT, its organbsation and structures is offered to all Trustees. Updates on signifficant changes in ¢harity law and taxation induding Trustees, responsibilities are eovered al Truslee meetings as appropriate. Page 9
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Ststemgnt of Trustees. responsibilitie$ The Trustees (0 are also the director8 of the Charity for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance wth applicable law and United lQngdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice)- Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the State of affairs ol the Charity and of its incoming resources and application of resources, including tts in¢ome and eXpendire. for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistenuy., observe the methods and principles of the Charities SORP {FRS 102).. make judgements and a¢¢ountsng estimates that are reasonable and prudent.. state vthether applicable UK Accountin9 Standards {FRS 1021 have been followed, subject to any material departure5 disclosed and explained in the financial statements- prepaie the financial statements on the going r¢cern basis unless it is inappropriate to presume that Ihe Charity wll continue in bysiness. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose wth reasonable accuracy al any time the financial posttson of the Charity and trnable them to ensure that the firiancial statements comply wth the Companies Act 2006. They ale also responsible for safeguarding the assets of the Charlty and hence for taking reasonable steps for the prevention and detection of fraud and other iiregularities. pproved by order of the members of the board of Trustees and signed on their behall by.. Nigel Purse Chair Date.. Page 10
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2022 Independont Examinerfs Report to the Twslees of National Paralymptc Heritagè Trust {*h• harity) I report to the charity Trustees on my examinotlon of the accounts of the Charity foT the year ended 31 March 2022. Responsibilities and Basis of Report As the Trustees of the Charity land its directors for the puipose$ of company law) you ale responsible for the preparation of the accounts in accordan¢e with the requirements of the Companies A¢1 2006 {Ihe 2006 Acf). Having satiSed myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 Ilhe 2011 A¢n. In carrylng out my examination I have followed the Directions given by the Charity Commi8sion under section 14515}Ibl of the 2011 Act. Independent Examinerfs Statement Since the Charity's gros$ income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to un(lertake the examination because l am a member of Instituto of Charteied Ac¢ounlants in England and Vvales, which is one of the li8te(J bodies. I have completed my examinatson. I confirm that no matters have come to my attention in Connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act.. or the accounts do not accord wlh those iecords- or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihat the accounts give a 'true and fair, view which 18 not a matter considered as part of an independent examination-, or the accounts have not been prepafed In accordance the methods and prin¢lple$ of the Ststement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Repon9 Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matter8 in connecton wth the examination lo which attention should be drawn in this report in order to enable a proper underslanding of the accounts to be reached. This report is made solely lo the Chariils Trustee$, as a body, in accordance wrth Part 4 of the Charities (Accounts and Reports) Regulation$ 2008. My WOTk has been undertaken so that I might state to the Charity Trustees those matters l am required to state to them in an Indepenijent Examiner's Report and foi no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility Its anyone other than the Charity and the Charitys Tnjstees as a body. for my work or for this report. Page 11
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Signed.. Dated.. 09-12-22 Martin Bailey FCA Goodman Jones LLP 29130 Fitzroy Square London W1T6LQ Page 12
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarant) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted lunds 2022 Re$tri¢ted funds 2022 Total funds 2022 Total fvnds 2021 Note Income from: Donations and lega¢ie8 95,851 279,153 375,004 224,047 Total income 95,861 279,163 375,004 224,047 Expenditure on: Charitsble activities 337.144 337.144 252.657 Totsl expenditUTV 337.144 337.144 252,657 Net Incomellexpenditurnl Transfers betsveen fvnds 95,851 29,580 ISY,9911 129,5801 37,860 (28,610) Net movement in funds 125,431 187,5711 37,860 f28,810J Reconciliation of fund$: Total funds brought forward Net movement in funds 108,521 125,431 474,824 (87,5711 $83,345 37.860 611,955 (28,610) Total funds carried forward 233,9S2 387,253 621.206 583,345 The Ststement of Financial Activities includes all gains and1088e3 recognised in Ihe year. The notes on pages 16 to 26 form part of these financial statements. Page 13
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) REGISTERED NUMBER: 09765432 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Flxed a$$ets Tangible assets 443,688 455,571 443,688 455,571 Current assets Debtors 13,585 3,493 198,375 3.832 Investments cash at bank and in hand 12 140,593 215,453 144.425 Ciedilots.. amounts falling due within one year 13 {37,9361 (16.651) Net curYEnt a$$el$ 177,517 127, 774 Total a¥sets less current liabilities 621,205 583,345 Net assets excluding p8nsion asset 621,205 583,3 Tolal net assets 621,205 583,3 Charity funds Restricted fvnds Unrestricted fvnds 387,253 233,952 474, 824 108,521 Total funds 621,205 583,345 The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtsin an audit for the year in question in accordance with seth.on 476 of Companies Act 2006. The Trustees acknovAedge Iheir responsibilities for complyTng with the requirem&nts of the Ad respect to accounting record5 and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entilies subject to the small companies regime. Page 14
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) REGISTERED NUMBER: 09765432 8ALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2022 The financial statements were approved and authorised for issue by the Trustees and yigned on their behalf by.. Nigel Purse Date: The notes on pages 16 to 26 form part of these financial ststements. Page 15
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Oeneral infomiation The National Paralympic Heritage Trust is a private company limited by guaranlee incorporated in England and Wales. The registered office is Stoke Mandeville Sports Stsdium. Harvey Road, Aylesbury. HP21 9PP. A¢¢ounling policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in a¢roidance wth the Charitie8 SORP IFRS 1021 counting and Reporting by Charlies.. Slalement of Recomfnended Practice applicable to charthes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland IFRS 102) (effective 1 January 2019), the Financial Reporting Standaid applicable in the UK and Republic of Ireland IFRS 102} and the Companies Art 2006. The National Paralympic Heiilage Twst meets the definitlon of a public benefit entity under FRS 102. Assets and liabilities are inilally recognised at historical cost or transaction value unles$ othervise stated in the Televanl accounting policy. The accounts are prepared in sterfing, Ithich is the functional currency of the charitable company. Monetsry amounts in these financial 5tstements are rounded to the nearest £. 2.2 Going ¢on¢ern The financiot ststements have been prepared on a going concem basis. The Truslees have reviewed and considered relevant information, including the annual budget, knovm and anticipated future in¢ome, and future cash flows in making their assessment. Based on these asse$$ments and the Current fesoufces available, the Trustees have concluded that they carb continue to adopt the going concem ba$1$ in preparing the accounts. 2.3 Fund accounting General fijnds are unr&stri¢ted funds %thich are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and Nthich have not ben designated for other purposes. Restricted ftjnds are fvnds %thich are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the Charity for particulaf purposes. The costs of raising and administering such fvnds are charged against the $pe¢ific fijnd. The aim and use of each Testricted fvnd is set out in the notes to th& financial statements. Page 16
NATIONAL PARALYMPIC HERITAGE TRUST {A CoMnY Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (continued) 2.4 Income Al income is re¢ogni$ed once the Charity has entiuement to the income, r( is probable that the income wll be recelved and the amount of Income receivable can be measured feliably. Grarbts are included in the Ststement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balan¢e Sheet. Where income is received in advance of entidement of receipt, its re¢ognition is deferred and included in creditors os defeiied income. Where entiuement occufs before inrne 15 received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deed5 of V¢nant 18 recognised at the time of the donation. 2.5 Expenditure Expendibjre is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be lequired in setllement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is in¢uNed on direcly un(lertaking the acliviknes thi¢h further the Charity's objectives, as well as any associated support Costs. AJI expenditure is inclusive of irrecoverable VAT. 2.6 Tangiblo fixed assets and depreciatlon Tangible fixed assets arè InallY recognisèd at cost. After recognition, under the cost model, langible fixed assets are measured at cost less accumulated depreciation and any accumulated impaiiment losses. AJI costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporong date the Charity a8sesses %thether there is any indication of impalrment. If such indi¢ation exists, the recoverable amount of the asset is determined to be the higher of its lair value less costs to sell and its value in use. An impairment loss is iecognised %there the carrwng amount exceeds the recoverable amount. Depreciation is tharged 80 as to allo¢ale the Cost of tangible fixed assets less their residual value over their estimated useful lives. Depre¢Salon is provided on the following basis: FiKttJre$ and fittings 10% Straight line 2.7 Debtors Trade ar7d other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 17
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (continued} 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and Short-term highly liquid investments with a short matttrrity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are re¢ognised hvhen there is an obligation at the Balance Sheet date as a result of a past event, rt 1$ Probable that a transfer of economic benefit wll be required in settlement. and the amount of the setdement can be e8timated reliably. oblllJes Bre recognised al Ihe amount the Charfty anticApates r( will pay to setue the debt or the amount it has reoeived as advanced payments for the goods or services it must provide. 2.10 Flnancial in$tNmgnls The Charity only has financial assets and financial liabilities of a kind that qualify as basic finanal instruments. Basi¢ financial instruments are initialty recognised at transaction value and subsequenuy measured at their settlement value ¥Mth the exception of bank loans thi¢h are subsequenly measured at amortised cost using the effectNe interest method. 2.11 Pensions The Charity operates a de)Sned contrlbution pension scheme and the pension charge represents the amounts payable by the Charity to Ihe fund in respect of the year. Crttical accounting estimatss and areas of judgement Estimate5 and judgements are continually evaluated and are based on histoiical èxperience and othef factors, including expectations of fijture events that are believed to be reasonable under the circumstsnces. ctiCal accountlng estimates and a$$umpllon8: The Charity makes estimates and assumptions conceming the future. The Tesltlting accounting estimates and assumptions will, by definition. seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabililies within the next financial yeai are discussed below. Page 18
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income Irom donations and legacie$ Unre$lri¢ted Restricted funds funds 2022 2022 Total funds 2022 Total fvnds 2021 Grants via trusts and foun(Fation8 Trusts Partners 56,626 279,153 335,779 175,535 15,000 33,512 35,000 4,225 35,000 4,225 Donations 95,851 279,153 376,004 224,047 Total 2021 33,512 190.535 224,047 Anaty$is of expenditurè on charitable aclivities Summary by fund type Restricted funds 2022 Total 2022 Total 2021 NPHT Activities 337,144 337,144 252,657 Tolal 2021 252,65T 252, 657 Analysi$ of expenditurn by activitie$ Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Total fvnds 2021 NPHT Activites 8,308 328.836 337,144 252, S57 Total 2021 26,597 226.060 252.65T Page 19
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analy$l$ of expenditure by activities (continued) Analysis olsupport¢05ts NPHT Total lunds 2022 Total fvnds 2021 Activittes 2022 Staff costs 118.942 62.894 5.674 1,486 6.091 98,118 24,289 3,810 3,220 118,942 62,894 5,674 1,486 6,091 98,118 24.289 3.810 3,220 92,878 58,938 673 950 9, 7T5 20,836 30 3,426 1g,g06 Depreciation Travelling expenses Equipment and materials Learning and engagement Legal 8nd professional Advertising Insurance Office expense8 Website Other li i 3,511 801 3,511 26,064 328,836 328.836 226,060 Total 2021 226,060 226,060 Independent exarnlnerfs remuneration The independent examinerfs remunerafjon amounts to an independent examiner lee of £1.500 12021 £1,50G). Page 20
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Staff Costs 2022 2021 Wages and salaries Social security ¢osts Contribution to defined contribution pension schemes 110,983 5,594 2,366 83,272 8,744 1,462 118,942 92,878 The avefage number of persons employed by the Chority during the year was as follow5.' 2022 2021 No. Ernployees No employee recelved femuneration amounting lo more than £60,000 in elther year. During the year, total remuneration, including ernployer's national insurance and pension contributions, incurred in respect of key management personnel totslled £51,152 Ipart year 2021.. £46,163}. Tru$lee$' remuneration and expenses During the year, no Trustees received any remuneration or other beneffts (2021- £NIU. During the year ended 31 March 2022, no Trustee expensès have been incurred (2021- £NIL). Page 21
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. Tangible fixed assets Fixtur•s and rrttings Cost or valuation At 1 April 2021 Additions 581,368 51,011 At 31 March 2022 632,379 Depreciatiorb At l April 2021 Charge for the year 125.797 62,894 At 31 March 2022 188,691 Net book valug Ai 31 March 2022 443,688 At 31 March 2021 455,5TI 11. Debtors 2022 2021 Due withln one y•ar Other debtor$ Prepayments and accrued income 13,264 321 3,832 13,$85 3.832 12. Current asset investmènts 2022 2021 Investments 3,493 Page 22
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. CreditOf5: Amounts falling due within one year 2022 2021 Trade creditors Accrua and deferred income 6.976 30,960 12,991 3,660 37,936 16,651 14. Financial instruments 2022 2021 Financial assets Financial assets measured at fair value through income and expenditure 198,375 140,593 Financial as$ets measured at fair value throLTrgh income and expendtlure Comprise cash balances. Page 23
NATIONAL PARALYMPIC HERITAGE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Ststement of funds SLitemgnt of funds - Current year Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Incomo Expendiiure Unfftstrlcted funds General Funds - all fvnds 108.521 9S,8S1 29,580 233,962 Restricted funds NPHT activities Royal Pavilion Bucks Open Weekend Groundwork 472m8 1.926 277,903 {333,9681 11.9261 12601 {1.0001 129.6801 387,253 250 1,000 474,824 279,153 {337.1441 129,580) 387,253 Totsl funds 083,345 375.004 1337,1441 621,205 Page 24
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Limited by Guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Statement of funds Icontinuodl Statement of fund$ - prior year Balance at 31 March 2021 8alanc& al l April 2020 Transfers An/oul Income EKpendAtur8 Unrestrlcted funds General Funds 45,109 33,512 29,900 108,521 Restrted funds NPHT a¢tlMde$ R Callingham Foundation Royal Pavilion 8ucks Open Weekend 565, 726 188,484 (251,412) {I,000) (29,900) 4T2,898 1.926 125 1.926 120 (245) 566,846 190,535 (252,65T) f29,900) 474.824 Total lund$ 611,955 224, 047 (252,657) 583,345 NPHT Activities - this fund comprises of income received from various funders, as listed in the Trustees. Report, that fund andlor match fvnd the a¢tiviknes of the Charity, and are received towards all activities of the Chanty. Royal Pavilion - this fvnd represents tsvo grants towards consetvation costs and towards the reopening and being Covid safe. Other small funds- small donations received for specific purposes. Page 2S
NATIONAL PARALYMPIC HERITAGE TRUST IA Company Lirnbted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. Analysis of net assets belween funds Analysis of net assets beh¥een fvnds - Current year Unrestrict8d funds 2022 Restricted lunds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due th1Th one year 443,688 (171.800) (37.936) 443,688 215,453 137,936) 387,253 Total 233,952 387,253 621305 Analysis of nel assets between fund$ - piior year Unrestricted fvnds 2021 Restricted funds 2021 Total fvnds 2021 Tangible fixed assets Current assets Creditor5 due 1n one year 455,571 (330,399) (76,651) 455,571 144,425 (76,651) 474,824 Total 108,521 474, 824 583,345 17. Pension commitinents The Charity operates a defined Contribution pension scheme. The pension cost outstanding at the year end included in creditors was £598,12021.' £nill. 18. Related party transa¢tions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing beeen related partles and the Charity at 31 March 2022. 19. Controlling party and Company status The Charity is controlled by its Trustees. The Charity is a company limited by guarantee. In the event of a winding up of the company, the liability of the members of Ihe company is limited to £1 per member. Page 26