2021-01-31-accounts

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Company number: 09411750 Charity Number: 1175062

parkrun Global Limited

Report and consolidated financial statements For the year ended 31 January 2021

parkrun Global Limited

For the year ended 31 January 2021

Reference and administrative information .................................................................................. 1 Trustees’ annual report .............................................................................................................. 2 Independent auditor’s report ................................................................................................... 25 Statement of financial activities (incorporating an income and expenditure account) ............... 30 Balance sheet ........................................................................................................................... 31 Statement of cash flows ............................................................................................................ 32 Notes to the financial statements ............................................................................................. 33

parkrun Global Limited

Reference and administrative information

For the year ended 31 January 2021

Company number 09411750 Country of incorporation United Kingdom Charity number 1175062 Country of registration England & Wales Registered office and operational address Unit 3, Lower Deck Phoenix Wharf Twickenham TW1 3DY

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Gavin Megaw Chair P Sinton-Hewitt Founder C Gibbons J C Townsend K Hui Key management Nick Pearson Chief Executive personnel Tom Williams Chief Operating Officer Russ Jefferys Global Head of Communications Chrissie Wellington Global Head of Health and Wellbeing James Kemp Global Head of Operations Bankers Santander 100 Ludgate Hill London EC4M 7RE Solicitors Muckle LLP 32 Gallowgate Newcastle Upon Tyne NE1 4BF Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House, 108-114 Golden Lane LONDON EC1Y 0TL

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

The trustees present their report and the audited financial statements for the year ended 31 January 2021.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

parkrun is a global health and wellbeing initiative that delivers a series of weekly, free community events, designed to encourage engagement with physical activity and volunteering in a social environment.

What began in October 2004 with a single event in Bushy Park, Teddington, parkrun now supports weekly events at over 2,000 locations across 23 countries. The global charity is responsible for delivering parkrun events in a diverse number of locations across the UK, Ireland, Southern Africa, Asia Pacific, mainland Europe, and North America.

The organisation’s mission is to make the world healthier and happier, through the provision of regular, community-led, socially-focussed physical activity events. Further, parkrun is committed to those events being free, for everyone, forever.

Appealing to the widest possible demographic, parkrun events are free, weekly, physical activity initiatives that are accessible to people of all abilities and backgrounds and encourage people to take part through walking, jogging, running, or volunteering. It is the belief of parkrun that all human beings have an innate need to be active, social, and outdoors - that these are fundamental building blocks of health and happiness. Therefore parkrun's strategic mission is to use these free, weekly, outdoor, community events to support improved health, wellbeing, and happiness, in communities all over the world.

In pursuit of this mission, parkrun takes a proactive approach to encouraging those that are less active to take part in parkrun events. The charity is particularly focussed on maximising

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

accessibility to physical activity and volunteering opportunities, free of charge, through local, community-focused, volunteer-delivered events.

parkrun acknowledges that, with regards to accessing physical activity, a multitude of barriers remain, discouraging many people in society from participating. The organisation attempts to remove or reduce these barriers, encouraging more people to become more physically active through either walking, jogging, running, or volunteering. Key to the parkrun philosophy is that parkrun events are free, for everyone, forever.

This clear commitment removes the single biggest barrier to participation in physical activity, that of cost. However, there are many others and parkrun is committed to addressing as many as possible.

Simplicity of engagement (fitness level is not important and little/no specialist equipment is needed) is a key element of parkrun's appeal, offering an informal and more accessible alternative to most other activity providers. Participation at parkrun requires a simple, one-time online registration, the registration then generates a unique identification number, which is all that is required to participate at any parkrun event, anywhere in the world, at any time. Simply printing off the unique identification number, in the form of a barcode, and scanning it at the finish is enough to ensure receipt of a result which includes time and position

The COVID 19 pandemic has led to the cancellation of all global events and limited opportunities to return during the financial year, this has obviously led to a major decrease in participation in parkrun events and a major limitation on the ability to start new events.

…

By mid to late 2021 most parkrun events were back and operating.

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parkrun events take place, every week, in parks or public spaces. Saturday events are five kilometres in distance and are for anyone aged four or over, Sunday events are for children aged four to fourteen and are 2 kilometres in distance. All events are coordinated by a central support infrastructure, delivery template and technical platform, but are delivered locally by volunteers. parkrun believes that the benefits to an individual of participating at parkrun events

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

either as a walker, jogger, runner, or volunteer, are significant both in terms of mental and physical health and wellbeing.

The aim of parkrun as a global organisation is to encourage communities to become healthier and happier through regular physical activity and volunteering. Key to this is the belief that individuals and communities that are empowered to provide their own solutions to health and wellbeing challenges are more motivated to continue than those that have solutions imposed upon them.

parkrun empowers volunteer teams to develop and deliver their own local events, encouraging fun and creativity to be added at a local level, and whilst the event template is rigid around areas relating to safety and welfare, it is flexible in many other areas, ensuring each event reflects its community. By creating a simple, low cost template for starting events, parkrun has created a community model for physical activity and volunteering that is rapidly scalable.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The charity's main activities and who it tries to help are described below.

All its charitable activities focus on delivering parkrun events in the UK and the rest of the world and are undertaken to further parkrun Global Limited's charitable purposes for the public benefit.

As with every charity, business and community, 2020/2021 was defined by the global COVID19 pandemic. parkrun, as an events based charity, with record numbers of events and

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

participants in February 2020, had all events suspended by mid-March 2020 as the world went into lockdown.

During the financial year 2019, over 1.3 million new people registered for parkrun globally. During the financial year 2020, interruptions due to the COVID pandemic meant that new registrations dropped to 220,000. Where and when events were able to operate, over 800,000 different people ran, jogged or walked at a parkrun event somewhere in the world and over 110,000 people volunteered. This represents less than 50% of the total participation level of 2019.

In the absence of actual parkrun events for the majority of 2020, the organisation had to rapidly refocus its objectives and priorities as a consequence of the unprecedented global situation.

The remainder of the year and beyond, until July 2021, when the majority of events were able to return, was concerned with responding to the exceptional circumstances, maintaining engagement with our parkrun community of volunteers and participants and planning for the return of events in each of our 22 territories.

parkrun, with its key objective of providing inclusive activity for everyone, could have suffered to the point of closure with the inability to host events over such a lengthy period. However, the charity has emerged in a position of strength, with great depth of support from local communities through to parliamentarians, Government ministers and public health officials.

In light of the impact of the pandemic on peoples' mental and physical health, the importance of providing the opportunity for easily accessible activity and/or volunteering with others in an outdoor setting has been further accentuated.

parkrun began the 2020-21 financial period in its strongest ever position, adding new events at a rate, on average, of 10 per week, increasing numbers of participants and volunteers and continuing to open up in new global territories. In the weekend of 1st February 2020 parkrun organised a record total of 2051 events simultaneously across 22 territories worldwide and with the number of participants and volunteers peaking at 403,000 per week.

As the threat of COVID-19 grew through February and into March 2020, we took the decision to close events wherever the territory made it a legal obligation. 15 countries’ events were closed

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

on 13th March 2020; 17th March saw the closure of the Australian and New Zealand events; finally, on 18th March the remaining events in Eswatini, Namibia, Russia, South Africa and UK were cancelled meaning parkrun events were suspended everywhere.

In the UK, where parkrun originated and the majority of events are located, the decision to close was only taken after discussions with Johnathan Van Tam, Deputy Chief Medical Officer and keen supporter of parkrun for its broadly recognised public health benefits. He and his department were eager to keep the events open if possible.

However, the compromises in operations required in the exceptional circumstances, such as limiting numbers of participants, staggered starts and social distancing were felt to be at odds with parkrun’s ethos of inclusivity and accessibility. In addition, to operate within these proposed guidelines would have needed significant capital investment for technology to support the events at ground level (e.g timing mats, timing chips etc.) all within a totally volunteer led structure where the volunteers’ time commitment has to be respected. Thus the decision was taken, with the parkrun Trustees’ agreement, to close the events until time they could be safely reopened, in the usual format and able to follow the same guidelines and safety procedures in every territory.

At this early stage of the pandemic, unaware it would be so long lasting, parkrun operations immediately started work to understand how to bring back the events safely. This included commissioning Professor Mike Weed and Dr. Abby Foad at the Centre for Sport, Physical Education & Activity Research (spear) at Canterbury Christ Church University to review the evidence of outdoor transmission of COVID-19 in a parkrun type setting (Published Sept 2020).

This universally well received piece of original research concluded that outdoor activity, such as a parkrun event, was very safe from a virus transmission perspective. It directly informed the development of parkrun’s ‘Covid Safe Operating Framework.’ The framework provided guidelines by which events could be delivered, in the safest way possible, in a setting where a virus such as COVID-19 is circulating within the community.

Whilst this background work was in hand, parkrun had the responsibility to fill the void of cancelled events for its parkrun community of participants and volunteers, our sponsors and parkrun employees.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

A range of initiatives and responses were rapidly activated by our head office teams:

1. Weekly parkrun community updates:

With immediate effect, weekly email updates were circulated to the whole parkrun community explaining the situation worldwide with our commitment to being transparent, honest and as detailed as possible with all communication.

2. Volunteer and Staff engagement and well-being:

Volunteers

parkrun is a volunteer based charity and as such has a large number of very committed Event Teams working hard to host their parkrun event each weekend. Overseeing the event teams are our Regional Ambassadors who are recruited, still as volunteers but with a closer relationship with the head office teams. We also recruit a number of ‘specialist Ambassadors’ who have more targeted roles such as encouraging participation in parkrun among communities for whom involvement in mass participation activity is not the norm.

With the events cancelled we wanted to remain as accessible, visible and open to our volunteers as possible with any information and decision making.

From April 2020 calls were organised between Head Office personnel to any Event Team member or Ambassador who requested one. Ultimately around 1000 calls were organised. These calls provided the opportunity to check how individuals were faring on a personal level, provide reassurance, updates and operational advice.

A weekly operations newsletter was initiated for circulation to all Event Teams and Ambassadors to provide regular updates.

Finally there were a number of live Q&A sessions hosted on the parkrun YouTube channel by Nick Pearson CEO and Tom Williams COO for event teams to have their questions answered directly.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

Staff

parkrun’s staff roles are geared towards delivering parkrun events each weekend so with the events cancelled, jeopardising the very existence of the charity, employees were justifiably anxious about job security. However, we took the decision to not furlough staff.

A fortnightly call was established by our leadership team for all global employees to join. It provided the opportunity to listen to concerns, provide reassurance as to job security and deliver regular updates regarding parkrun’s strategy and plans for navigating the pandemic situation.

Where staff members could not necessarily do their normal day to day role, they were deployed to manage and fulfil other tasks and projects.

We circulated well-being surveys amongst employees to be completed in confidence. These enabled monitoring of how our personnel were coping with the situation and how they felt the leadership team was managing affairs within the pandemic situation. Overall the responses demonstrated high levels of trust in the organisation.

3. Alternative digital activity:

We quickly needed to adapt our regular digital activity, targeting the parkrun community to plug the gap left by the absence of the Saturday 5km and Sunday 2km junior events. We had a responsibility to remain present and engaged with our community.

Our response culminated in a huge variety of new content aimed at engaging parkrunners of all ages, with something for everyone, across all our digital platforms. Alongside the usual, scheduled weekly newsletter, blog, parkrunner stories, posts on social media and health and well-being campaigns there was the following array of activity:

The Great Big parkrun Quiz: To fill the gap on Saturday mornings, when parkrunners would normally attend their parkrun event, it was felt that an interactive, live experience with broad, family appeal was required. The weekly parkrun Quiz was launched at the end of March 2020 and ran weekly for 36 episodes.

junior parkrun warm-up: To keep the younger parkrun community engaged and active on a Sunday morning, in place of their junior parkrun event, 35 junior parkrun warm-ups were

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

released on a weekly basis. These warm-ups were led by a variety of contributors from junior parkrun event teams, parkrun staff, through to children and families who normally attended their local event. For the first time ever, we were completely relying on user generated content.

School of parkrun: 16 fun, varied, individual activity based educational tasks were created and released weekly, to engage kids. Themed under traditional school lesson headings such as Maths, Geography and Art they combined some activity tasks with an educational task.

Q&As: A live interview and answering of audience questions with a famous person every Wednesday evening. Over the 22 weeks guests included Olympians, Ultrarunners, TV presenters, Musicians and other celebrities who enjoy parkrun.

For all of these new initiatives, people could watch live on the parkrun YouTube channel or watch the recording at a date and time that suited them better, making them relevant and accessible to our global community.

The number of ‘likes’ and ‘watches’ on the various digital platforms provided instant measurement of the success of these activities. As COVID-19 restrictions in a region lessened and people were able to get out and about again, parkrun curtailed these additional activities.

4. Physical activity initiative:

(not)parkrun

Once it was recognised that events would remain closed for a significant period and while people were taking the opportunity to exercise outside as a legitimate reason to be able to leave their homes, we wanted to enable something as close to a parkrun experience as was possible in the circumstances.

(not)parkrun provided the incentive for people to complete a 5km run/jog/walk in their own time and whenever they wished, and log each event on the adapted website.

We created a platform and community of people who were motivated by logging and tracking their 5km efforts with just under 100,000 individuals logging around 1.6million (not)parkruns The success of (not)parkrun generated news and stories that we could communicate with the wider parkrun community as part of our engagement with them.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

As the actual events have returned so the numbers completing (not)parkruns have fallen off, but we will maintain the option as we know that having the flexibility to log a 5k anytime suits many people who are often not free on a Saturday morning.

5. Revenue protection:

The Apricot T-shirt

The unique ‘parkrun Apricot’ t-shirt provides a further revenue stream for parkrun from its sales by online retailer Pro Direct. To retain its relevance whilst events were suspended, the option for personalising or adding a bespoke message to your Apricot t-shirt was introduced and well received. It allowed people to find community and connection while the events were closed, with groups often ordering ‘team’ shirts printed with their specific team name or message.

6. Tracking attitudes and behaviours

We hugely increased the number of parkrunners we surveyed over this time and expanded our survey and insight work across many more territories, in order to track how our parkrun community was feeling throughout the pandemic period and capturing their attitude towards

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

their parkrun event returning within a particular time frame. The increase in survey frequency and reach equated to close to 200,000 responses over the period of event closure.

The feedback gathered from this representative cohort of participants proved invaluable in terms of informing our decisions and providing evidence for discussions with key stakeholders.

The Intent to Return surveys were emailed weekly from July 2020 – July 2021 (and still ongoing in SA) in parkrun’s 10 largest territories with some 122,000 responses gathered. The overwhelming expression from our respondents was the positive desire to be able to return to parkrun events as soon as safe to do so, leaving us in no doubt that parkrun events would be welcomed back once given the go ahead to restart.

While these surveys clearly demonstrated the positive attitude of the vast majority of the parkrun community to the return of events, we remained aware of the toll that the pandemic and associated lockdowns were taking on many. To track this impact our Covid Impact Survey was initiated across the UK, Ireland, South Africa and New Zealand.

The common thread running through the 10,000 responses was the strong wish to reconnect with people and to feel part of a community again. Respondents expressed how they felt their mental health had been more adversely affected than their physical health by the exceptional circumstances enforced through the pandemic.

This sentiment was echoed in the responses from our Volunteer Surveys carried out among those regularly involved in volunteering at UK and Ireland junior parkruns and UK and N.Ireland 5km parkruns. Of those volunteers (often parents of participating children) involved at junior parkrun events, eight out of ten parents felt that their children’s connections with their friends had been harmed during the pandemic period.

This strong evidence points to the importance of parkrun providing not only the opportunity for activity, but crucially, for social interaction and the building of local community.

In addition, our regular brand surveys allowed us to track the parkrun community’s ‘trust in parkrun,’ their awareness of parkrun’s sponsors and intent to purchase the sponsors’ products or services. The overwhelmingly positive responses informed our decisions and discussions with the wider parkrun community, sponsors and other key stakeholders.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

While the parkrun staff and volunteer teams worked hard to keep the parkrun community updated, engaged and active, some territories were able to restart their events relatively quickly. New Zealand’s events were reopened in August 2020 under the guidance of the ‘COVID Safe Operating Framework,’ which Event Teams found straightforward to implement. It was well received by volunteers and participants alike.

Cape Pembroke Lighthouse (Falkland Islands), Australia, Japan, Guernsey, Isle of Man, Namibia and Russia were all able to reopen their events between September 2020 – January 2021.

Despite initial hopes of a more universal return, the UK and many other countries experienced their second significant wave of COVID-19 infections over the Autumn and Winter 2020-21, with conditions proving inappropriate for the return of parkrun events.

A roadmap out of lockdown was provided in England by the UK government in February 2021 and Wales, Scotland and N. Ireland followed suit, each with their own timeline of restriction release. Within this roadmap and with the support of DCMS (Government Department of Digital, Culture, Media and Sport) and other key stakeholders such as Sport England, we had the permission to re-establish events in England from the end of March 2021.

Initially, the junior 2km events were restarted in England from 12th April 2012 to the overwhelming welcome from their local communities. The age of participants was restricted to 4yrs-10yrs (instead of 4yrs-14yrs) as this cohort were considered to be at lowest risk of adverse COVID-19 infection and also to keep numbers of participants at each event lower.

The 5km event reopening in England (500+ events) proved more complex due to each and every landowner needing to approve the event return on their property, with many varied concerns holding up the decision to proceed. We were able to provide a wealth of gathered evidence and had backing of influential stakeholders to corroborate our view that the close-tozero risk of COVID-19 being transmitted at a parkrun event is far outweighed by the need for the population to get active, together, for the sake of both mental and physical well-being.

Our supporting evidence and stakeholders were as follows:

Scientific evidence for the low transmission opportunity of COVID-19 in outdoor settings such as parkrun events as demonstrated by research conducted by Prof M. Weed & Dr. A. Foad September 2020. This was further substantiated by modelling, commissioned by parkrun and

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

conducted by Professor Clive Beggs at Queen Mary University of London, of likely COVID-19 transmission rates in a parkrun event setting, when implementing the Covid Safe Operating Framework, confirming the close-to-zero risk of likely virus transmission.

Survey data demonstrating the overwhelming positive attitude of parkrun participants and volunteers for the events to return in their local communities
Key stakeholder support parkrun events return in England was supported by key National body stakeholders – Deputy Chief Medical Officers Dr Jenny Harries and Jonathan Van Tam, Public Health England, Sport England and The Department for Digital Culture Media and Sport) and received legal consent to re-establish events from Nigel Huddleston MP Minister for Sport and Tourism 21st April 2021.

Our 5km events finally restarted in England 24th July 2021 with 490 events, and 105,000 runners, joggers, walkers and volunteers.

Remaining territories reopened across the late spring and summer 2021: April – UK Jersey and England Juniors; May – UK Wales, N.Ireland & Scotland juniors, South Africa, USA; June – Poland, Denmark, UK N.Ireland; July – France, Germany, Canada, UK England & Scottish Islands, Norway, Netherlands, Italy; August – Sweden, Finland, UK Scotland & Wales)

parkrun events are on average 10 to 15% down on pre-pandemic levels. Surveying has shown that some of the non-returners have simply changed their habits during the pandemic and are no longer wishing to run, jog or walk at a parkrun event and a small proportion have concerns about COVID-19 and do not wish to attend, currently.

Since re-establishing the majority of events we are working on plans to start new events in current territories and open up in new territories. Having successfully weathered 17 months of event closure puts parkrun in a strong position to react quickly to event suspensions and reopenings should it again become necessary.

There is now opportunity to build upon the many positive outcomes discovered while ‘trialling’ new ideas and initiatives through the pandemic period. Also, to continue to develop and strengthen relationships with key stakeholders to garner support for parkrun’s future plans to extend the reach of its events, providing inclusive, free, weekly, opportunities for activity and

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

social interaction for everyone, with the objective of improving community health and wellbeing.

Beneficiaries of our service

parkrun is an organisation that proudly welcomes and encourages total inclusiveness, our culture looks to understand and include and as such parkrun sets out deliberately to target everyone in society as a potential beneficiary of our services through either, running, jogging, walking or volunteering. However, there continues to exist a structural inequality around provision and appetite for physical activity involvement and in an attempt to address this, parkrun works most proactively to encourage participation amongst groups that are least likely to engage in physical activity, or groups that would most benefit from increasing physical activity levels.

More recently this has seen a number of initiatives that target specific groups that are underrepresented in physical activity at a general population level, although this has inevitably been impacted by the lack of events and opportunities during COVID restrictions around the world.

When events returned we continued working at a local level, understanding the complex and multi level barriers to involvement allows parkrun to develop unique engagement that has proven extremely successful in raising activity levels.

COVID restrictions themselves however are likely to have impacted the mix of participation and we have been collecting data and insight to understand how restrictions around the world have impacted activity levels for different groups, as we develop that understanding we will also develop initiatives that reflect this.

Some of the more successful historical initiatives that will still be a key part of our engagement strategy include parkrun events within custodial estate facilities. After a successful pilot in 2017, parkrun events now take place on the custodial estate in the UK, Ireland and Australia offering a multitude of benefits to the participants and the participating institutions. To date parkrun events take place in 35 separate institutions and over 7000 different individuals have participated on over 40,000 different occasions, including almost 2000 volunteers.

Parkrun also operates a programme that connects parkrun events with local GP surgeries supporting physical activity and addressing social isolation amongst some of the most

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

vulnerable members of society. Medical practitioners are able to socially prescribe participation at their local parkrun event as an alternative or supplement to medication, supporting a more preventative and holistic approach to health. A small pilot in the UK in 2018 has quickly grown with the initiative also launching successfully in Ireland and Australia.

parkrun will continue to engage with and understand barriers to participation for groups that are under represented at parkrun and more widely in physical activity and exercise. Where interventions can be created that are scalable and effective, we will deliver them. Work will also continue to support greater participation within groups that parkrun has previously identified as important:

Inactives (as measured by doing 30 minutes of moderate exercise less than once a week over the last 4 week period).

People aged 55 and over. Older participants are increasingly likely to experience positive health outcomes from increased physical activity.

Women. In many parts of the world, there is a large participation gap between females and males. Areas of Social and Economic deprivation Participation in and access to physical activity in the poorest communities is materially underrepresented directly leading to poorer health and wellbeing outcomes.

Financial Review

During the financial year to 31 January 2021 parkrun Global has focused on responding to the unique challenges of the global COVID pandemic, supporting events to return safely as soon as local conditions allow and to protecting the financial position of the charity.

As a consequence of a drastic reduction in parkrun events delivered during the period, overall costs have reduced over the period to £3,898,862 (2020 £4,549,499).

The COVID pandemic also impacted revenues which decreased to £4,260,970 (2020 £5,137,569). A significant percentage of the overall funding is restricted in terms of what the trustees can apply these funds to and as such they constantly seek to increase unrestricted funds. The restricted income related to Charitable activities disclosed within the statement of financial activities includes all income to which the charity is entitled to as at the end of the

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

year, but may not have received, and it should be noted that £1,200,000 of funding provided by Sport England has only partially been expensed in the current period, with the balance to be used in the next period.

The trustees continue to implement measures to improve reporting procedures to enable them to monitor not only general overheads but also costs associated with restricted funds. The group has net assets of £2,124,249 (2020 £1,762,141), represented by Unrestricted funds of £547,132 and Restricted Funds £1,577,117 (2020 £393,547 and Restricted funds of £1,368,594). The trustees are pleased with the significant improvement of the unrestricted reserves position £547,132 (2020 £393,547) at the end of the financial year and they are seeking to improve this amount to ensure that any short term falls in income are sufficiently covered. The trustees constantly monitor cash flow requirements and are pleased to see the cash held at the end of the year has increased to £430,690 (2020 £406,314). Funds provided through parkrun donations continue to help support costs at individual events. The trustees are grateful for the continued support from the participants themselves. At the year end, an increase in funds to £377,116 from the 2020 position of £361,455, were available to support individual event specific funding requirements going forward.

Reserves policy

The trustees have considered the future viability of the group and its ability to continue as a going concern, and regularly monitor cash flow forecasts. Having reviewed the makeup of the group's working capital and net current assets position at the year-end the trustees are confident that the group has sufficient resources to continue with Its operations and seek to achieve its objectives. Consequently, the financial statements have been prepared on a going concern basis.

Restricted funds total £1,577,117 (2020 £1,368,594) and the detail of the funding provided is given in Note 21 to the accounts. General funds total £547,132 (2020 £393,547) and so the position has improved materially since the prior year (39% increase).

Free reserves, after taking into account tangible fixed assets, have shown a dramatic improvement in the financial year as shown in Note 20 to the accounts, the priority of the trustees over the next year is to continue to improve this position by securing additional unrestricted funding. The reserves policy is to hold three months of operating expenditure within reserves and so again, the immediate aim of the trustees is to continue to improve the

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

financial sustainability of the organisation in order to build up the reserves towards the target level.

The trustees are confident that the growing strength of the financial position will result in parkrun Global meeting it’s reserves levels in the near future. The trustees note the vulnerability of such limited reserves highlighted by the COVID pandemic and have committed to reviewing these with a view to setting them at an increased level.

Going concern and financial sustainability

During the financial year 2020, all parkrun events were paused for at least part of the year. The pausing of parkrun events around the world had a negative impact on revenues, however this was mitigated by decisive and immediate action taken to reduce overheads accordingly. The management team pursued a strategy over recent years of keeping fixed costs, particularly staff costs as low as possible, ensuring there was significant flexibility within total overheads and this approach has been vindicated and critical in the management of finances during this period.

Throughout 2021, parkrun events around the world have started to return, and their return, particularly in the UK (where most of the commercial revenue is generated) has seen revenues start to return to pre pandemic levels and a strong sense of confidence return to financial forecasting.

Through long term cash and business forecasts shared by the management team the trustees are able to confidently look forward to the rest of 2021 and beyond with confidence that the charity's financial position is strong and the organisation remains sustainable. The trustees acknowledge the excellent work of the management team in managing the accounts and finances in the face of the global COVID 19 pandemic and this offers additional reassurance heading into the future.

Principal risks and uncertainties

The trustees consider the principal risks to the charitable group to be in the following areas:

~ COVID 19. The majority of parkrun events around the world have returned and this significantly reduces risk to the charity. However, a resurgence in the virus and a return to restrictions that require further cancellations of events continue to be a threat. parkrun will

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

continue to work with national bodies and health organisations to ensure that any future event cancellations are minimised and events can return where appropriate as quickly as possible.

~ Economic risks. As parkrun continues to grow the costs in administering a universally free service increase significantly, however we continue to successfully develop additional income streams and have managed to establish strong long-term contractual relations with our sponsors, partners and other financial supporters. The fallout of event suspensions during the COVID pandemic have heightened sensitivity to financial shock, to mitigate this parkrun has proactively engaged with commercial partners and supporters to maximise communications and rights opportunities and enhance sponsor value wherever possible, whilst simultaneously minimising expenditure and overheads to support a sustainable business model while events in parts of the world remain closed.

~ Government and Local Authority activity or inactivity. In order to mitigate risks in this area we have established good links with government departments and Sport England, and we are always open to discussions with local authorities and ln particular the departments responsible for the upkeep of local parks.

~ Cancellation of Events. Participants are kept informed by way of social media of matters affecting local events and we do not see any significant problems arising in this area.

~ Reputational risks. The trustees work hard to ensure parkrun has a robust health and safety, child and adult safeguarding and cyber security plans which help mitigate against damage to reputation that could result from failures in these areas

Fundraising

parkrun will continue to rapidly expand and therefore the costs associated with supporting events, safely and consistently, and at no cost to participants, will inevitably increase rapidly too.

The trustees support a lean, low cost approach to increasing scale, however it is important that parkrun continues to develop commercial strategies to raise funds to support growing overheads. The trustees continue to pursue a strategy of building self sufficiency through a diverse range of revenue streams.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

In the 2020 financial year, over 80% of parkrun Global's revenue was generated in the UK, which is to be expected when market maturity and size are compared against other subsidiary markets. parkrun generates funds in the UK from 3 main revenue streams.

1 Sponsorship.
Historically this has been the main revenue stream, and in 2020 accounted for around 40% of revenue, down from around 44% in 2019, demonstrating a reducing reliance on one single revenue stream. parkrun partners with commercial organisations to promote their products to the parkrun audience, through digital marketing and a very small amount of branding at parkrun events. Sponsorship income proved to be particularly resilient during the period of event closures due to strong commercial relationships and parkrun’s ability to continue to deliver value, even in the absence of live events.
2 Grant Funding

parkrun works with organisations to further health and participation objectives and receives grant funding to support these activities. During the financial year, parkrun worked Sport England on specific projects. In 2018 parkrun was awarded a £3M grant from Sport England (2018-2021) to help fund projects designed to increase both female participation and to increase physical activity in areas of high social deprivation.

3 Self Generated Commercial Income (Retail)
More recently the trustees have identified the need for diversification of revenue streams and have supported the development and growth of retail revenue. The trustees believe that the growth of this revenue stream offers the greatest level of protection for parkrun as it strives for sustainability and to deliver on the commitment of being free, for everyone forever. The trustees have set a long term target of generating over 50% of overhead costs from retail income. Merchandise sales were however significantly hit by the cancellation of parkrun events and parkrun saw a significant hit to retail revenue, particularly wristband sales. The trustees were however pleased to see the continued sales growth of the ‘Contra’ brand, a 28% increase in gross retail sales, delivering £73,000 worth of profit which represented a 20% increase on 2019.

Prior to 2019, charitable fundraising has been limited to individual, local, parkrun events, raising funds for maintenance costs and expenses, the funds raised are restricted for exclusive use by each individual event and have had limited impact on supporting the ongoing costs required to sustain parkrun Global Ltd.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

2019 saw the launch of a new digital donations platform, allowing participants, should they choose, to pledge regular monthly donations to support the central overheads and costs that maintain the broader parkrun infrastructure and systems. This has proven to be an important part of parkrun’s revenue mix with over £320,000 raised in 2020, an increase of 24%.

parkrun Global Ltd is not currently registered with the Fundraising regulator but the trustees are taking professional advice in relation to this matter. In the year, parkrun Global Ltd received no complaints in relation to fundraising (2020 none).

Plans for the future

Most parkrun events around the world have now returned and the focus of the organisation can return to supporting the health and wellbeing of parkrun communities.

COVID 19 represented the largest health and well being threat of our lifetimes and it is inevitable that as life returns to something like normal, there will be a legacy of health consequences that will need addressing.

parkrun will invest heavily in developing insight, to understand what the post pandemic priorities are and what adaptations and changes are necessary to maximise impact.

parkrun therefore will be cautious and pragmatic when it comes to further International

expansion, therefore ensuring that resources are in place for existing events and any necessary investment in existing parkrun communities and not diluted by growth.

Despite the pandemic, 2020 saw the addition of The Netherlands to the parkrun family, and our first event in Austria opened in September 2021, parkrun will take further steps to grow into new territories when the resources and infrastructure allow.

Structure, governance and management

parkrun Global Limited is a charitable company limited by guarantee, incorporated on 28 January 2015 and registered as a charity on 10 October 2017.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

The charitable company's objects per the articles of association are to promote community participation in health recreation by:

~ Organising and providing running events, and

~ Creating opportunities for members of the community to participate in and/or volunteer at such running events.

The management of the organisation has been delegated by the trustees to the Chief Executive and Chief Operating Officer. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

Appointment of trustees

The articles of association state that the Founder of the organisation shall be a Trustee. Other trustees are appointed by an ordinary resolution of the members or by co-option by the trustees. The minimum number of trustees is 3 and the maximum number is 7. Trustees are recruited by a Committee, led by the parkrun Global Chair and including parkrun Global trustees. The committee has ultimate approval over the role description and the skills and experience criteria that are published ahead of selection, as well as the final selection.

Trustee induction and training

New trustees meet the Chair, the other trustees and the Executive team before their first meeting. In addition, they are required to join the Operations team on location visiting event teams and meeting volunteers. They are given full access to the Executive team to develop their understanding of the organisation. They are also given a copy of the Charity Commissions guidance to becoming a new trustee (CC3).

Related parties and relationships with other organisations

parkrun Global has two subsidiaries within the UK, parkrun Limited and parkrun Trading. parkrun Global also now operates in the United States of America and South Africa via subsidiary companies and we are working to Increase this number of parkrun territories that are operated via subsidiary companies rather than through licences. parkrun Global has also been operating sales of Contra merchandise through the subsidiary PSH Retail from Feb 1st 2020,

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

the purpose of this move is to offer greater transparency and clarity around associated costs and contribution.

Remuneration policy for key management personnel

The pay of all staff is reviewed annually by the Board of Trustees as part of the budget approval staff. The setting of executive pay is overseen by the Remuneration Committee and is made up of the trustees and chaired by the Chair of Trustees. The trustees take the position that parkrun is a hugely complex organisation that presents a myriad of management challenges for it’s senior leadership.

The senior team is entrusted with overseeing a global movement of volunteers, providing them with the tools and framework to safely and effectively mobilise to make the world healthier and happier. They are also responsible for creating and growing an increasing number of important revenue channels with the objective of making the charity self-sufficient.

Additionally, they develop commercial and strategic partnerships with global organisations that match the values and ambitions of parkrun and deliver public sector partnerships with bespoke objectives attached.

The last eighteen months has presented a challenging period for the parkrun executive, one that has tested their skills, mindset and passion for the organisation. Without exception, they have stepped up when most needed and guided the charity through an existential threat. This has clearly been noted by others outside the organisation, making our top talent targets in an employee led labour market.

The trustees of parkrun Global are clear that while we will not approve pay rewards that are out of keeping with the charitable sector, we do believe that our most important talent should be paid a fair wage for their efforts. Our remuneration committee meets annually to discuss the organisation's outflow of funds regarding staff income. They are clear that we do not expect our full time staff to be operating on a voluntary basis given the challenges and complexities that they face. They benchmark other charitable and private sector organisation’s pay to ensure that our approach is in keeping with others. They are confident that this is the case.

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

The trustees note that unlike many other charities, donations are not the main revenue source for parkrun, accounting for less than 15% of income. It is therefore critical that parkrun utilises appropriate talent to develop commercial revenues.

The trustees also believe that parkrun needs the best talent it can find to provide a global outlook to the challenges and opportunities faced. That includes operational, marketing and online retail experts who can provide a return on investment to help the charity do more on a self sufficient basis. These remain vital areas in our long term strategic plans.

It should be noted that during the financial year, senior management pay was frozen, at the specific request of the executive team, this request was approved by the remuneration committee.

Funds held as custodian trustee on behalf of others

parkrun Global does not hold any funds as custodian trustee on behalf of other organisations.

Statement of responsibilities of the trustees

The trustees (who are also directors of parkrun Global Limited for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

parkrun Global Limited

Trustees’ annual report

For the year ended 31 January 2021

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

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware
The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of the information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 January 2021 was 6 (2020: 6). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The directors’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

The trustees’ annual report has been approved by the trustees on 27 October 2021 and signed on their behalf by

Gavin Megaw Chair

Independent auditor’s report

To the members of

parkrun Global Limited

Independent auditor’s report to the members of parkrun Global Limited

Opinion

We have audited the financial statements of parkrun Global Limited (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 January 2021 which comprise the consolidated and parent charitable company statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, 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 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 January 2021 and of the group’s and parent charitable company’s incoming resources and application of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011

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 group financial statements section of our report. We are independent of the group and parent charitable company 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.

Independent auditor’s report

To the members of

parkrun Global Limited

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 parkrun Global Limited’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 other information comprises the information included in the trustees’ annual report other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the group financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements
The trustees’ annual report has been prepared in accordance with applicable legal requirements

Independent auditor’s report

To the members of

parkrun Global Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
● The parent charitable company financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
● The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent 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 group’s and the parent 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

Independent auditor’s report

To the members of

parkrun Global Limited

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and

Independent auditor’s report

To the members of

parkrun Global Limited

tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company'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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fleur Holden (Senior statutory auditor)

28 October 2021

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

parkrun Global Limited

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 January 2021

Unrestricted Note £ Income from: 2 445,411 Event related income 3 336,741 4 2,222,608 5 133 3,004,893 6 907,931 6 1,943,377 11 - 2,851,308 7 153,585 - 153,585 Reconciliation of funds: 393,547 547,132 Investments Total income Expenditure on: Donations Charitable activities Other trading activities Raising funds Net income / (expenditure) for the year Total expenditure Charitable activities Event related expenses Tax payable by subsidiaries Total funds brought forward Total funds carried forward Transfers between funds Net movement in funds	Restricted £ 56,077 1,200,000 - -	Unrestricted £ 366,425 779,305 2,614,264 669	Restricted £ 276,906 1,100,000 - -	2020 Total £ 643,331 1,879,305 2,614,264 669
3,004,893	1,256,077	3,760,663	1,376,906	5,137,569
907,931 1,943,377 -	- 1,047,554 -	771,443 2,724,769 -	- 1,053,287 -	771,443 3,778,056 -
2,851,308	1,047,554	3,496,212	1,053,287	4,549,499
153,585 -	208,523 -	264,451 -	323,619 -	588,070 -
153,585 393,547	208,523 1,368,594	264,451 129,096	323,619 1,044,975	588,070 1,174,071
547,132	1,577,117	393,547	1,368,594	1,762,141

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 20a to the financial statements.

parkrun Global Limited

Company no. 09411750

Balance sheets

As at 31 January 2021

2021 2020 Note £ £ Fixed assets: 12 270,296 360,141 13 - - 270,296 360,141 Current assets: 15 729,104 482,186 16 2,156,069 1,702,905 430,690 406,314 3,315,863 2,591,405 Liabilities: 17 (1,461,910) (1,189,405) 1,853,953 1,402,000 2,124,249 1,762,141 20a 1,577,117 1,368,594 547,132 393,547 2,124,249 1,762,141 Total funds Investments Cash at bank and in hand Tangible assets The group Unrestricted income funds Creditors: amounts falling due within one year Net current assets Total net assets Stock Debtors Funds: Restricted income funds	2021 2020 Note £ £ Fixed assets: 12 270,296 360,141 13 - - 270,296 360,141 Current assets: 15 729,104 482,186 16 2,156,069 1,702,905 430,690 406,314 3,315,863 2,591,405 Liabilities: 17 (1,461,910) (1,189,405) 1,853,953 1,402,000 2,124,249 1,762,141 20a 1,577,117 1,368,594 547,132 393,547 2,124,249 1,762,141 Total funds Investments Cash at bank and in hand Tangible assets The group Unrestricted income funds Creditors: amounts falling due within one year Net current assets Total net assets Stock Debtors Funds: Restricted income funds	2021 2020 £ £ - - 1,000 1,000 1,000 1,000 - - 629,346 420,997 280,832 3,626 910,178 424,623 (94,937) (7,240) 815,241 417,383 816,241 418,383 - - 816,241 418,383 816,241 418,383 The charity	2021 2020 £ £ - - 1,000 1,000 1,000 1,000 - - 629,346 420,997 280,832 3,626 910,178 424,623 (94,937) (7,240) 815,241 417,383 816,241 418,383 - - 816,241 418,383 816,241 418,383 The charity
270,296 729,104 2,156,069 430,690	360,141 482,186 1,702,905 406,314	1,000 - 629,346 280,832	1,000 - 420,997 3,626
3,315,863 (1,461,910)	2,591,405 (1,189,405)	910,178 (94,937)	424,623 (7,240)
1,853,953	1,402,000	815,241	417,383
2,124,249	1,762,141	816,241	418,383
1,577,117 547,132	1,368,594 393,547	- 816,241	- 418,383
2,124,249	1,762,141	816,241	418,383

Approved by the trustees on 27 October 2021 and signed on their behalf by

Gavin Megaw Chair

parkrun Global Limited

Consolidated statement of cash flows

For the year ended 31 January 2021

£ £ 362,108 132,159 (246,918) (453,164) 272,505 66,690 (42,314) (42,314) 24,376 406,314 430,690 At 1 February 2020 Cash flows £ £ 406,314 24,376 406,314 24,376 2021	£ £ 362,108 132,159 (246,918) (453,164) 272,505 66,690 (42,314) (42,314) 24,376 406,314 430,690 At 1 February 2020 Cash flows £ £ 406,314 24,376 406,314 24,376 2021	£ £ 588,070 255,294 (259,615) (394,560) 234,011 423,200 (176,359) (176,359) 246,841 159,473 406,314 Other non- cash changes At 31 January 2021 £ £ - 430,690 - 430,690 2020	£ £ 588,070 255,294 (259,615) (394,560) 234,011 423,200 (176,359) (176,359) 246,841 159,473 406,314 Other non- cash changes At 31 January 2021 £ £ - 430,690 - 430,690 2020
(42,314)		(176,359)
At 1 February 2020 £ 406,314		Other non- cash changes £ -
	24,376 406,314		246,841 159,473
	430,690		406,314
	Cash flows £ 24,376		At 31 January 2021 £ 430,690
406,314	24,376	-	430,690

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

1 Accounting policies

a) Statutory information

parkrun Global Limited is a charitable company limited by guarantee, incorporated and registered in England and Wales. The company's registered office address and principal place of business is Unit 3 Lower Deck, Phoenix Wharf, Twickenham, Middlesex, TW1 3DY.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of consolidation

These financial statements consolidate the results of the charity and its wholly-owned subsidiaries parkrun Limited, parkrun Trading Limited and Parkrun South Africa NPC on a line by line basis. The results of PSH Retail Limited which is a wholly owned subsidiary of parkrun Trading Limited are also included. Transactions and balances between the charity and its subsidiaries have been eliminated from the consolidated financial statements. Balances between the five entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented as a summary of the result for the year is disclosed in the notes to the accounts.

Under Section 408 of the Companies Act 2006 the Company is exempt from the requirement to present its own profit and loss account.

One subsidiary is not consolidated within the financial statements as the directors believe the relationship will not continue in its current form and its inclusion within the consolidation has no significant bearing on the results for the year.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The charity is operating in an uncertain environment. Government restrictions around the world have meant parkrun events have been severly restricted over the accounting year. However existing events themselves do not directly generate income and the trustess are pleased to report that sponsors, partners and authorities around the world have remained supportive of parkrun and as such the trustees believe that the level of financial support that they are expecting over forthcoming months is sufficient to enable parkrun to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

1 Accounting policies (continued)
e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
Expenditure on charitable activities includes the costs of running events undertaken to further the purposes of the charity and their associated support costs

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity

 Organising parkrun events 88%

 Commercial sponsorship 12%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

1 Accounting policies (continued)
k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Plant and machinery
Fixtures and fittings
Computer equipment

33% on cost and 10% on cost 20% on cost

50% reducing balance and 33% on cost
l) Investments in subsidiaries

Investments in subsidiaries are at cost.

m) Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Stocks of Milestone (Free) T shirts are not shown within the year end stock figure as they have no resale value. However a portion of the costs incurred on their acquisition are included in prepayments if needed to spread the cost of Milestone T shirts appropriately across the period of them being awarded.

n) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

o) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

p) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

q) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

r) Pensions

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

Unrestricted £ 445,411	£ 56,077 Restricted	2021 Total £ 501,488	Unrestricted £ 366,425	£ 276,906 Restricted	2020 Total £ 643,331
445,411	56,077	501,488	366,425	276,906	643,331
Unrestricted £ 7,728 309,013 20,000	£ - - 1,200,000 Restricted	2021 Total £ 7,728 309,013 1,220,000	Unrestricted £ 422,219 309,553 47,533	£ - - 1,100,000 Restricted	2020 Total £ 422,219 309,553 1,147,533
336,741	1,200,000	1,536,741	779,305	1,100,000	1,879,305

The detail of restricted grants is given in Note 20.

4 Income from other trading activities

Income from other trading activities
Retail sales and advertising Corporate sponsorship	Unrestricted £ 516,866 1,705,742	£ - - Restricted	2021 Total £ 516,866 1,705,742	Unrestricted £ 849,454 1,764,810	£ - - Restricted	2020 Total £ 849,454 1,764,810
	2,222,608	-	2,222,608	2,614,264	-	2,614,264

5 Income from investments

Income from investments
Bank Interest	Unrestricted £ 133	£ - Restricted	2021 Total £ 133	Unrestricted £ 669	£ - Restricted	2020 Total £ 669
	133	-	133	669	-	669

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

6a Analysis of expenditure (current year)

Raising funds £ 194,511 331,774 - - 56,964 251,084 - - -	Charitable activities	Governance costs £ - - - - - - - - 25,820	Support costs £ 387,292 - - - 163,228 - 22,705 8,818 5,452	2021 Total £ 1,627,404 331,774 665,804 121,269 532,994 403,013 113,527 52,051 51,026	2020 Total £ 1,456,458 200,846 1,046,507 240,555 505,164 382,884 229,733 361,012 126,340
	Event related £ 1,045,601 - 665,804 121,269 312,802 151,929 90,822 43,233 19,754
834,333 70,499 3,098	2,451,214 516,996 22,722	25,820 - (25,820)	587,495 (587,495) -	3,898,862 - -	4,549,499 - -
907,931	2,990,931	-	-	3,898,862	4,549,499
771,443	3,778,056	-	-

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

6a Analysis of expenditure (prior year)

Raising funds £ 167,128 200,846 - - 93,689 231,485 - -	Charitable activities	Governance costs £ - - - - - - - - 54,354	Support costs £ 310,702 - - - 169,276 - 45,947 46,418 25,764	2020 Total £ 1,456,458 200,846 1,046,507 240,555 505,164 382,884 229,733 361,012 126,340
	Event related £ 978,628 - 1,046,507 240,555 242,199 151,399 183,786 314,594 46,222
693,148 71,773 6,522	3,203,890 526,334 47,832	54,354 - (54,354)	598,107 (598,107) -	4,549,499 - -
771,443	3,778,056	-	-	4,549,499

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

7 Net income / (expenditure) for the year

This is stated after charging:

This is stated after charging:
	2021	2020
	£	£
Depreciation	132,159	255,294
Interest payable	1,566	2,559
Operating lease rentals:
Property	89,743	81,654
Auditor's remuneration (excluding VAT):
Audit of Charity	2,260	2,100
Audit of subsidiary companies	15,300	13,400
Under accrual of prior year audit fees	-	10,780
Overseas audit fees	2,808	4,744
Foreign exchange gains or losses	643	1,286

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:

Staff costs were as follows:
Social security costs Employer’s contribution to defined contribution pension schemes Other forms of employee benefits Salaries and wages	2021 £ 1,374,259 135,273 111,231 6,641	2020 £ 1,253,308 118,671 78,952 5,527
	1,627,404	1,456,458

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

employer's national insurance) during the year between:
	2021	2020
	No.	No.
£60,000 - £69,999	3	2
£70,000 - £79,999	1	1
£80,000 - £89,999	-	1
£90,000 - £99,999	1	-
£100,000 - £109,999	1	1
£140,000 - £149,999	-	1
£150,000 - £159,999	1	-

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £559,897 (2020: £512,214).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustees received payment for professional or other services supplied to the charity (2020: £nil).

No trustees expenses were paid in the year ended 31 January 2021. In the year ended 31 January 2020 Trustees' expenses representing the payment or reimbursement of travel and subsistence costs totalling £42 were incurred by one member relating to attendance at meetings of the trustees, and Paul Sinton-Hewitt had travel and subsistence expenses paid on his behalf in relation to his role within parkrun Ltd and these amounted to £3,746.40.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 24 (2020: 24).

10 Related party transactions

Paul Sinton-Hewitt the founder of parkrun and Trustee of parkrun Global was paid £77,654 (2020: £74,263) for his daily work in promoting parkrun within the UK and Globally and performing ad hoc services to sponsors, grant providers , and the wider community as and when required. Payments to the founder as an employee are allowed under the provisions of the articles of association.

Jo Sinton-Hewitt the wife of Paul Sinton Hewitt is employed full time by parkun Limited in the role of Event and Customer support and receives a commercial salary of £36,701 for the role (2020: £44,129).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

11 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiaries parkrun Limited and parkrun Trading Limited distribute under Gift Aid available profits to the parent charity.

12 Tangible fixed assets

Fixtures and fittings £ 19,712 -	Computer equipment £ 44,931 2,129	Plant and machinery £ 1,204,229 40,185	Total £ 1,268,872 42,314
19,712	47,060	1,244,414	1,311,186
10,609 3,833	32,913 5,949	865,209 122,377	908,731 132,159
14,442	38,862	987,586	1,040,890
5,270	8,198	256,828	270,296
9,103	12,018	339,020	360,141

All of the above assets are used for charitable purposes.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

13 Investment in subsidiary undertakings

The parent charity's investments at the Balance Sheet date in the share capital of companies include the following:

	2021	2020
	£	£
Cost b/fwd and c/fwd	1,000	1,000

parkrun Limited

The charity is the sole member of parkrun Limited, a company registered in England. The company number is 07289574. The registered office address is Unit 3 Lower Deck, Phoenix Wharf, Twickenham, Middlesex, TW1 3DY.

All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distrbuted under Gift Aid to the parent charity.

A summary of the results of the subsidiary is shown below:

A summary of the results of the subsidiary is shown below: are distrbuted under Gift Aid to the parent charity.
Turnover from sales to subsidiary Profit for the financial year Retained earnings Taxation on profit on ordinary activities Turnover Interest payable Profit on ordinary activities before taxation Gross profit Administrative expenses (see below) Profit on ordinary activities before interest and taxation Interest receivable and similar income Total retained earnings brought forward Profit for the financial year Distribution under Gift Aid to parent charity Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves	2021 £ 1,161,546 1,620,000 parkrun	2020 £ 1,725,698 1,456,667 Limited
	2,781,546 (2,820,369)	3,182,365 (3,012,463)
	(38,823) 41 -	169,902 38 (444)
	(38,782) -	169,496 -
	(38,782)	169,496
	416,015 (38,782) (209,000)	396,519 169,496 (150,000)
	168,233	416,015
	1,202,677 (1,034,444)	921,971 (505,956)
	168,233	416,015

Amounts owed to/from the parent undertaking are shown in notes 16 and 17.

Included within turnover above is a management charge of £1,620,000 (2020: £1,456,667) to parkrun trading Ltd for the supply of staff and support services.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

13 Investment in subsidiary undertakings (continued)

parkrun Trading Limited

The charity owns the whole of the issued ordinary share capital of parkrun Trading Limited, a company registered in England. The company number is 06053983. The registered office address is Unit 3 Lower Deck, Phoenix Wharf, Twickenham, Middlesex, TW1 3DY.

The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distrbuted under Gift Aid to the parent charity.

The trustee J C Townsend is also a director of the subsidiary.

A summary of the results of the subsidiary is shown below:

A summary of the results of the subsidiary is shown below: The trustee J C Townsend is also a director of the subsidiary. by line basis in the statement of financial activities. Available profits are distrbuted charity.	under Gift Aid to the parent	under Gift Aid to the parent
Management charge payable to subsidiary Retained earnings Taxation on profit on ordinary activities Liabilities Turnover Administrative expenses (see below) The aggregate of the assets, liabilities and reserves was: Profit on ordinary activities before taxation Profit on ordinary activities before interest and taxation Interest receivable and similar income Profit for the financial year Profit for the financial year Distribution under Gift Aid to parent charity Total retained earnings brought forward Assets Total retained earnings carried forward Interest payable Reserves Gross profit	2021 2020 £ £ 2,675,164 2,911,075 (1,620,000) (1,456,667) 1,055,164 1,454,408 (952,159) (1,370,119) 103,005 84,289 82 111 (1,377) (922) 101,710 83,478 - - 101,710 83,478 83,532 80,054 101,710 83,478 (92,000) (80,000) 93,242 83,532 1,424,856 1,175,280 (1,330,614) (1,090,748) 94,242 84,532 parkrun Trading Ltd
	1,055,164 (952,159)	1,454,408 (1,370,119)
	103,005 82 (1,377)	84,289 111 (922)
	101,710 -	83,478 -
	101,710	83,478
	83,532 101,710 (92,000)	80,054 83,478 (80,000)
	93,242	83,532
	1,424,856 (1,330,614)	1,175,280 (1,090,748)
	94,242	84,532

Amounts owed to/from the parent undertaking are shown in notes 16 and 17.

On the 1 February 2020 stock of Contra clothing of £482,186 held by parkrun Trading Limited was transferred to PSH Retail Limited at cost and this amount is included within Turnover above.

Included within Administrative expenses above is a management charge of £1,620,000 (2020: £1,456,667) from parkrun Ltd who supplies staff and support services to parkrun Trading Limited.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

13 Investment in subsidiary undertakings (continued)

parkrun South Africa NPC

The charity is the sole member of parkrun South Africa NPC , a company registered in South Africa. The company number is 2011/132302/08. The registered office address is 6 Barkly Road, Parktown, 2193.

A summary of the results of the subsidiary is shown below:

Profit for the financial year Administrative expenses Interest receivable and similar income Profit on ordinary activities before taxation Liabilities Taxation on profit on ordinary activities Profit on ordinary activities before interest and taxation Reserves Cost of sales Gross profit Profit for the financial year Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Interest payable Retained earnings Total retained earnings brought forward Turnover	2021 2020 £ £ 164,328 239,677 - - 164,328 239,677 (160,801) (247,187) 3,527 (7,510) - 497 - (1,089) 3,527 (8,102) - - 3,527 (8,102) 10,878 18,980 3,527 (8,102) 14,405 10,878 16,686 23,787 (2,281) (12,909) 14,405 10,878 parkrun South Africa NPC	2021 2020 £ £ 164,328 239,677 - - 164,328 239,677 (160,801) (247,187) 3,527 (7,510) - 497 - (1,089) 3,527 (8,102) - - 3,527 (8,102) 10,878 18,980 3,527 (8,102) 14,405 10,878 16,686 23,787 (2,281) (12,909) 14,405 10,878 parkrun South Africa NPC
	164,328 (160,801)	239,677 (247,187)
	3,527 - -	(7,510) 497 (1,089)
	3,527 -	(8,102) -
	3,527	(8,102)
	10,878 3,527	18,980 (8,102)
	14,405	10,878
	16,686 (2,281)	23,787 (12,909)
	14,405	10,878

Amounts owed to/from the parent undertaking are shown in notes 16 and 17.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

13 Investment in subsidiary undertakings (continued)

parkrun U.S.

Registered office : Registered in the United States of America. Nature of business : to provide parkrun events in the USA.

parkrun U.S. is registered as a Non-profit Company and parkrun Global Limited is the sole member.

parkrun U.S. ceased to operate in its current form and accumulated reserves were transferred to parkrun Ltd during the year. The directors do not consider the transactions within parkrun USA to be significant enough to warrant consolidation within the Group accounts.

during the year. The directors do not consider the transactions within parkrun USA warrant consolidation within the Group accounts.	to be significant	enough to
Liabilities Funds transferred to parkrun Ltd. Total retained earnings brought forward (Loss)/Profit for the financial year Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Retained earnings Reserves	2021 £ 16,115 - (16,115)	2020 £ 18,657 (2,542) -
	-	16,115
	- -	16,115 -
	-	16,115

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

13 Investment in subsidiary undertakings (continued)

PSH Retail Ltd

parkrun Trading Limited owns the whole of the issued ordinary share capital of PSH Retail Ltd, a company registered in England. The company number is 11222647. The registered office address is Unit 3 Lower Deck, Phoenix Wharf, Twickenham, Middlesex, TW1 3DY.

The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits will be distrbuted under Gift Aid to the parent charity.

PSH Retail Ltd was dormant until the 31 January 2020 from which date it took over the trading activities relating to the Contra brand of sports clothing. Stock of £482,186 was transferred from parkrun Trading Limited and this expense is incorporated within Cost of sales below.

A summary of the results of the subsidiary is shown below:

A summary of the results of the subsidiary is shown below:
Management charge payable to parent undertaking Turnover Cost of sales Gross profit Profit on ordinary activities before interest and taxation Interest payable Profit on ordinary activities before taxation Taxation on profit on ordinary activities Administrative expenses Reserves Retained earnings Total retained earnings brought forward Profit for the financial year Distribution under Gift Aid to parent charity Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Liabilities Profit for the financial year	2021 2020 £ £ 358,745 - (262,938) - 95,807 - (2,000) - (20,000) - 73,807 - (12) - 73,795 - - - 73,795 - - 73,795 - - - 73,795 - 780,557 1 (706,761) - 73,796 1 PSH Retail Ltd
	95,807 (2,000) (20,000)	- - -
	73,807 (12)	- -
	73,795 -	- -
	73,795	-
	- 73,795 -	- -
	73,795	-
	780,557 (706,761)	1 -
	73,796	1

Amounts owed to/from the parent undertaking are shown in notes 16 and 17.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

14 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

15 16 Accrued income Finished goods Gross income Result for the year Stock Amounts due from group undertakings Prepayments Debtors Trade debtors Other debtors	2021 2020 £ £ 729,104 482,186 729,104 482,186 2021 2020 £ £ 619,981 475,317 20,133 26,144 - - 151,285 78,722 1,364,670 1,122,722 2,156,069 1,702,905 The group The group	2021 2020 £ £ 729,104 482,186 729,104 482,186 2021 2020 £ £ 619,981 475,317 20,133 26,144 - - 151,285 78,722 1,364,670 1,122,722 2,156,069 1,702,905 The group The group	2021 £ 741,723 397,858	2020 £ 551,101 406,531
	2,156,069	1,702,905	629,346	420,997

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors Other creditors Accruals Deferred income (note 19) Taxation and social security Bank Loan Amounts due to group undertakings	2021 2020 £ £ 476,019 395,779 56,975 74,961 16,095 1,177 - - 40,792 114,155 822,029 603,333 50,000 - 1,461,910 1,189,405 The group		2021 2020 £ £ 90,837 - - - - - - - 4,100 7,240 - - - - 94,937 7,240 The charity
	1,461,910	1,189,405	94,937	7,240

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

18 Deferred income

Deferred income comprises amounts invoiced where the period covered by the agreement/invoice extends beyond the year end and as such the income has been spread over the period to which it relates.

2021 2020 £ £ Balance at the beginning of the year 603,333 518,993 Amount released to income in the year (603,333) (518,993) Amount deferred in the year 822,029 603,333 Balance at the end of the year 822,029 603,333 19a General unrestricted £ 19b General unrestricted £ 20a £ £ £ 1,007,139 1,200,000 (1,007,139) - - - 361,455 56,077 (40,415) Total restricted funds 1,368,594 1,256,077 (1,047,554) General funds 393,547 3,004,893 (2,851,308) 393,547 3,004,893 (2,851,308) 1,762,141 4,260,970 (3,898,862) Restricted funds: Sport England Net assets at 31 January 2021 Analysis of group net assets between funds (prior year) Tangible fixed assets The group Movements in funds (current year) Total unrestricted funds At 1 February 2020 Total funds Unrestricted funds: parkrun Events Income & gains Expenditure & losses 360,141 33,406 393,547 547,132 Net current assets Net assets at 31 January 2020 London Marathon Net current assets 270,296 276,836 Tangible fixed assets Analysis of group net assets between funds (current year)	2021 2020 £ £ Balance at the beginning of the year 603,333 518,993 Amount released to income in the year (603,333) (518,993) Amount deferred in the year 822,029 603,333 Balance at the end of the year 822,029 603,333 19a General unrestricted £ 19b General unrestricted £ 20a £ £ £ 1,007,139 1,200,000 (1,007,139) - - - 361,455 56,077 (40,415) Total restricted funds 1,368,594 1,256,077 (1,047,554) General funds 393,547 3,004,893 (2,851,308) 393,547 3,004,893 (2,851,308) 1,762,141 4,260,970 (3,898,862) Restricted funds: Sport England Net assets at 31 January 2021 Analysis of group net assets between funds (prior year) Tangible fixed assets The group Movements in funds (current year) Total unrestricted funds At 1 February 2020 Total funds Unrestricted funds: parkrun Events Income & gains Expenditure & losses 360,141 33,406 393,547 547,132 Net current assets Net assets at 31 January 2020 London Marathon Net current assets 270,296 276,836 Tangible fixed assets Analysis of group net assets between funds (current year)	2021 2020 £ £ Balance at the beginning of the year 603,333 518,993 Amount released to income in the year (603,333) (518,993) Amount deferred in the year 822,029 603,333 Balance at the end of the year 822,029 603,333 19a General unrestricted £ 19b General unrestricted £ 20a £ £ £ 1,007,139 1,200,000 (1,007,139) - - - 361,455 56,077 (40,415) Total restricted funds 1,368,594 1,256,077 (1,047,554) General funds 393,547 3,004,893 (2,851,308) 393,547 3,004,893 (2,851,308) 1,762,141 4,260,970 (3,898,862) Restricted funds: Sport England Net assets at 31 January 2021 Analysis of group net assets between funds (prior year) Tangible fixed assets The group Movements in funds (current year) Total unrestricted funds At 1 February 2020 Total funds Unrestricted funds: parkrun Events Income & gains Expenditure & losses 360,141 33,406 393,547 547,132 Net current assets Net assets at 31 January 2020 London Marathon Net current assets 270,296 276,836 Tangible fixed assets Analysis of group net assets between funds (current year)	2021 2020 £ £ - - - - - - - - Restricted funds Total funds £ £ - 270,296 1,577,117 1,853,953 1,577,117 2,124,249 Restricted funds Total funds £ £ - 360,141 1,368,594 1,402,000 1,368,594 1,762,141 £ £ - 1,200,000 - - - 377,117 - 1,577,117 - 547,132 - 547,132 - 2,124,249 The charity At 31 January 2021 Transfers	2021 2020 £ £ - - - - - - - - Restricted funds Total funds £ £ - 270,296 1,577,117 1,853,953 1,577,117 2,124,249 Restricted funds Total funds £ £ - 360,141 1,368,594 1,402,000 1,368,594 1,762,141 £ £ - 1,200,000 - - - 377,117 - 1,577,117 - 547,132 - 547,132 - 2,124,249 The charity At 31 January 2021 Transfers
	822,029	603,333	-	-
		General unrestricted £ 270,296 276,836	Restricted funds £ - 1,577,117	Total funds £ 270,296 1,853,953
		547,132	1,577,117	2,124,249
		General unrestricted £ 360,141 33,406	Restricted funds £ - 1,368,594	Total funds £ 360,141 1,402,000
		393,547	1,368,594	1,762,141
		£ (1,007,139) - (40,415) Expenditure & losses	£ - - - Transfers	£ 1,200,000 - 377,117 At 31 January 2021
1,368,594	1,256,077	(1,047,554)	-	1,577,117
393,547	3,004,893	(2,851,308)	-	547,132
393,547	3,004,893	(2,851,308)	-	547,132
1,762,141	4,260,970	(3,898,862)	-	2,124,249

The narrative to explain the purpose of each fund is given at the foot of the note below.

parkrun Global Limited

Notes to the financial statements

For the year ended 31 January 2021

20b Movements in funds (prior year)

Movements in funds (prior year)
parkrun Events Total restricted funds General funds Restricted funds: Sport England London Marathon Unrestricted funds: Total funds Total unrestricted funds	£ 728,064 - 316,911 At 1 February 2019	£ 1,000,000 100,000 276,906 Income & gains	£ (720,925) (100,000) (232,362) Expenditure & losses	£ - - - Transfers	£ 1,007,139 - 361,455 At 1 February 2020
	1,044,975	1,376,906	(1,053,287)	-	1,368,594
	129,096	3,760,663	(3,496,212)	-	393,547
	129,096	3,760,663	(3,496,212)	-	393,547
	1,174,071	5,137,569	(4,549,499)	-	1,762,141

Purposes of restricted funds

Sport England has provided funds to increase female participation and to increase participation of communities in areas of high social deprivation

London Marathon has provided funds to increase participation and increase the diversity of participation in parkrun events within London.

parkrun event funds represent donations provided by parkrunners to support individual events.

21 Operating lease commitments payable as a lessee

The group's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

the following periods:
One to five years Less than one year	2021 2020 £ £ 80,187 80,187 10,560 47,981 90,747 128,168 Property
	90,747	128,168

The charity has no future lease payments under non-cancellable operating leases.

22 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

parkrun Global Limited

Contents

Reference and administrative information

Trustees’ annual report

Objectives and activities

Trustees’ annual report

…

…

Trustees’ annual report

For the year ended 31 January 2021

Achievements and performance

Trustees’ annual report

Trustees’ annual report

For the year ended 31 January 2021

Trustees’ annual report

1. Weekly parkrun community updates:

2. Volunteer and Staff engagement and well-being:

Trustees’ annual report

3. Alternative digital activity:

Trustees’ annual report

For the year ended 31 January 2021

4. Physical activity initiative:

(not)parkrun

Trustees’ annual report

For the year ended 31 January 2021

5. Revenue protection:

Sponsors

The Apricot T-shirt

6. Tracking attitudes and behaviours

Trustees’ annual report

Trustees’ annual report

For the year ended 31 January 2021

Trustees’ annual report

For the year ended 31 January 2021

Trustees’ annual report

For the year ended 31 January 2021

Beneficiaries of our service

Trustees’ annual report

For the year ended 31 January 2021

Financial Review

Trustees’ annual report

For the year ended 31 January 2021

Reserves policy

Trustees’ annual report

Going concern and financial sustainability

Principal risks and uncertainties

Trustees’ annual report

For the year ended 31 January 2021

Fundraising

Trustees’ annual report

For the year ended 31 January 2021

Trustees’ annual report

For the year ended 31 January 2021

Plans for the future

Structure, governance and management

Trustees’ annual report

For the year ended 31 January 2021

Appointment of trustees

Trustee induction and training

Related parties and relationships with other organisations

Trustees’ annual report

For the year ended 31 January 2021

Remuneration policy for key management personnel

Trustees’ annual report

Statement of responsibilities of the trustees

Trustees’ annual report

For the year ended 31 January 2021

Auditor

parkrun Global Limited

Opinion

Basis for opinion

To the members of

parkrun Global Limited

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

parkrun Global Limited

Matters on which we are required to report by exception

Responsibilities of trustees