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2022-01-31-accounts

P A R K R U N G L O B A L L I M I T E D

ANNUAL REPORT

AND FINANCIAL STATEMENTS

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Company number: 09411750 Charity number: 1175062

CONTENTS

Section one: One: 3 1 Introduction (CEO / Chair) Section Two: two: 45 2 Our Values values Section Three:three: 65 3 Mission & Vision – trustees reportand vision Section Four:four: 108 4 Annual review of achievGovernance – trustees reportments and performance Section Five: 153 fi ve: 5 Auditors ReportGovernance summary Section six:Six: 250 6 Statement of Financial ActivitiesAuditor’s report Section seven:Seven: 24 7 Reference and administrative informationFinancial statements 26 Section eight: 40 Reference and administrative information 8

SECTION ONE: INTRODUCTION

Our primary focus during the further than their local parkrun to With every employee deployed 2021-22 fi nancial year (February take part. either working to return events 2021 – January 2022) was to rearound the world at the earliest establish events around the world We are hugely grateful for the opportunity, or managing core as the Covid-19 pandemic began support of our volunteer teams, commercial activity, we maintained to recede and as territories felt it landowners (land on which our the decision not to take advantage safe for their populations to attend parkrun events are located) and of the furlough scheme. outdoor events once again. for the many high profi le public fi gures who championed our A number of initiatives At the start of the fi nancial year cause at what was an immensely resulted from the periods of (February 2021) we had events challenging time. lockdown which our communities operating in Australia, Guernsey, particularly appreciated and which Isle of Man, Japan, Namibia, New While much of our energy over we have committed to retaining, Zealand and The Falkland Islands. the year was spent in restarting such as the popular (not)parkrun. This amounted to 420 events and parkrun events around the globe, The provision for parkrunners to approximately 60,000 participants at the start of the fi nancial year log a 5k walk, jog or run that they each week. we were still in the midst of the have completed at anytime, on pandemic with the majority of parkrun’s adapted website proved The six months from April events suspended. We created the a winning formula for both those through to September 2021 saw ‘parkrun resolution’ campaign to already familiar with parkrun and events return in all territories keep our communities engaged for many who had never attended except Singapore and Malaysia. and united through the fostering a parkrun event and were looking By the end of the fi nancial year of togetherness and the continued for some motivation to keep them (January 2022), we were delighted promotion of the benefi ts of exercising while their normal to have 2,100 events back up and movement. routine or place of exercise was running worldwide – 276,000 disrupted.

The six months from April through to September 2021 saw events return in all territories except Singapore and Malaysia. By the end of the fi nancial year (January 2022), we were delighted to have 2,100 events back up and running worldwide – 276,000 participants and volunteers took part in 2,101 parkrun events in 19 territories over the weekend of the 22nd January 2022.

Our small and dedicated team truly excelled in these most testing Over the course of the fi nancial circumstances, pulling together year our Virtual Volunteer app was to fi nd innovative operational rolled out to events worldwide, solutions and implement creative revolutionising timekeeping and digital communication strategies barcode scanning at events. The to keep our communities engaged, connected and active while the events were suspended. In parallel, the team needed to consider and support our commercial partners in all activities and we are pleased to report that our partners were delighted with how parkrun continued to deliver against their objectives.

It proved immensely challenging to re-establish parkrun. The UK, our original and largest territory in terms of events and participant numbers, was particularly diffi cult. The sheer size of parkrun in the UK meant that we took the operational decision to require over 700 5k events (the entirety of parkrun UK) to restart on the same date to avoid any single event being overwhelmed with eager participants travelling

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PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION ONE: INTRODUCTION

app provides volunteers with the itself for the future, seeking ability to timekeep and barcode feedback directly from employees controls and a renewed focus scan using their own smartphones around the world. on governance. Additionally, and and is part of our strategy to to avoid any potential confl ict of reduce barriers to event delivery During this period, our CEO interest, Paul resigned as a Trustee, (removing the requirement for Nick Pearson announced he would and his consultancy agreement events to need specifi c hardware be stepping down, and trustees with the CONTRA supplier ended to function) and ensuring a set in place a process that saw in June 2022. smarter, leaner, more cost effi cient Global Head of Communications approach to launching new events Russell Jeff erys taking over from 1 Despite the disruption as a and establishing parkrun in new February 2022. result of the Covid-19 pandemic, territories. we are delighted that 61,687 Shortly after Pearson’s parkrun events were successfully Alongside supporting our departure we were shocked delivered in 2,248 locations, with tremendous volunteer community and disappointed to discover 1,074,807 people participating with technology that better serves the existence of an unapproved during the fi nancial year. All of their roles, we have introduced and undisclosed consultancy this was made possible by the new volunteer specifi c milestone agreement he had in place with a eff orts of an incredible 195,422 volunteers.

Shortly after Pearson’s parkrun events were successfully Alongside supporting our departure we were shocked delivered in 2,248 locations, with tremendous volunteer community and disappointed to discover 1,074,807 people participating with technology that better serves the existence of an unapproved during the fi nancial year. All of their roles, we have introduced and undisclosed consultancy this was made possible by the new volunteer specifi c milestone agreement he had in place with a eff orts of an incredible 195,422 t-shirts, allowing volunteers to join supplier. This arrangement – that volunteers. the same milestone clubs as those sat off the parkrun balance sheet who walk, jog or run, ensuring all – was not known of nor approved Through the considerable participants are able to proudly by the parkrun Board or any other eff orts of parkrun employees, display their achievements. staff within the charity. It saw ambassadors and event day Pearson receive payments related volunteers we emerge from 2021At the same time, we took the to the CONTRA clothing brand 22 in the strongest fi nancial and decision to introduce a charge dating back to the founding of the governance position in parkrun’s for the previously free-to-receive business. history. For this, we owe a debt milestone t-shirts. Giving away of gratitude to all participants, over one hundred thousand The consultancy agreement supporters, commercial and t-shirts every year was a signifi cant was a replica of an agreement funding partners who have cost and liability for the Charity, that had been approved for continued to support the work and one we had long sought to parkrun and CONTRA Founder we do. Their support has allowed address. Introducing the cost Paul Sinton-Hewitt, but at no point us to protect the organisation in plus admin charge has resulted had Pearson ever declared that he highly uncertain times, and to look in a positive shift in our balance had created the same agreement ahead with confi dence as we plan sheet, and has removed a fi nancial for himself. As soon as we for the next phase of parkrun. burden which threatened the became aware of the existence of business model. Pearson’s arrangement, the Board undertook a full investigation During the fi nancial year we involving external solicitors took the opportunity to simplify and independent auditors. This our global structure, with included exploring both criminal Gavin Megaw parkrun Australia (responsible for and civil action. We were advised Chair of Trustees managing our operations across that urgently recovering the parkrun Global Asia Pacifi c) becoming a subsidiary funds should be the priority. We of parkrun Global. Parkrun are pleased to report that this Australia formerly operated under was subsequently achieved, with a licence agreement. Pearson also agreeing to cover the investigation costs.

Towards the end of the year we embarked on a companySince this incident came to wide culture review, designed to light we have implemented a understand how the organisation number of changes which will could improve and better position protect the organisation in the

SECTION TWO: OUR VALUES

RECOGNITION

We recognise and respect each other.

We see and hear each other. We respect ourselves and others, support and help one another, listen attentively, and celebrate the uniqueness, strengths and diversity of our family.

FAIRNESS

We act with kindness, compassion, and fairness.

We’re kind, caring, compassionate and empathetic. We assume others mean well. We’re aware of our actions and how what we do impacts others. We apply our founding principles of equality and inclusivity to every situation and opportunity.

AUTHENTICITY

We are honest, authentic, and accountable.

Trustworthiness, honesty and integrity are foundational to our family. We’re honest about what we know and what we don’t know. We hold each other to account. We communicate with transparency and empathy, acknowledging that communication infl uences behaviours, emotions and feelings, and underpins eff ective collaboration.

FAMILY

We act with humility and always put the family fi rst.

We’re humble. We know a lot but not everything. We take responsibility, acknowledge personal errors, and are open to learning, developing and improving. There’s no room for ego and no one is bigger than the family. We lead by example, and we share in our successes.

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BRAVERY

We are brave, bold, and creative.

We’re ambitious and dynamic. We dream big, make bold decisions, challenge the status quo and get things done. We’re not afraid to question, innovate and be diff erent.

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SECTION ONE: INTRODUCTION

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION TWO: OUR VALUES

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION THREE: MISSION AND VISION

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OU R M I S S I ON
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O UR VI SIO N A healthier and happier planet.

For our founder Paul SintonHewitt CBE, parkrun was never really about the run. It was a social occasion with a 5k as the hook and, most importantly, this event ma d e hi m f ee l more pos i t i ve an d connected to his friends and the natural world. In short, parkrun improved his health and wellbeing and, above all, it made him happier.

easy for communities the world over to deliver events in a low cost, replicable and sustainable way, whilst also enriching and empowering the very communities o f w hi c h t h ey are a part.

in their feld, those who set policies, those we agree with and those with whom we might not see eye to eye. We will continue to test and challenge ourselves an d ot h ers, str i ve to d eepen our understanding and to apply this to making the world a healthier and happier place through parkrun.

What do the terms health and include our environment and experience better health than happiness mean to us at parkrun? surroundings, income and social their unhappy peers. Happiness Although seemingly simple, the status, education, employment and health go hand in hand. terms health and happiness are and working conditions, social personal and contextual and support networks, customs, We know from extensive are incredibly diffi cult to defi ne traditions and beliefs, gender and research and insight that parkrun succinctly. age, genetics and access to health supports people to be happier services. Our characteristics and and healthier. It engenders better To some, health relates to behaviours also have a role to play. mental and physical health, their level of fi tness or the ability improves confi dence and selfto cope with stress, anxiety and Happiness, like health, is also esteem, promotes the application depression. To others it is about a nebulous term. It is an emotion and building of skills, fosters being part of a community and that underpins our wellbeing. the development of meaningful feeling valued and supported. Our wellbeing is infl uenced by connections and helps people Some people might refer to the our engagement in enjoyable better manage long term state of their marriage or quality of and challenging activities; our conditions. their friendships whilst, to some, relationships and our ability to having a good work/life balance is set and accomplish goals and Imagine a world where what matters. These varied views give meaning to our lives. Health thousands more communities and perspectives make clear that and wellbeing are also intimately come together every week and good health is about so much more linked: health underpins wellbeing millions more people experience than simply the absence of illness and higher levels of wellbeing have he physical and mental health or disease, and instead relates to been associated with decreased benefi ts provided by parkrun. our entire social, emotional and risk of disease, illness, and injury; physical state. better immune functioning; Together, we can help create speedier recovery and longer life a healthier, happier planet. Our health status is also spans.

On the demand side, parkrun’s making the world a healthier and model purposely aims to remove happier place through parkrun. many of the structural barriers to sustained participation, and With targeted, incremental makes being active, with others, steps parkrun can continue to outdoors, more accessible to more improve health and happiness, people the world over. by empowering people to come together, to be active, social and outdoors.

comments the world over. As one parkrunner made clear “The actual ‘running’ part has become almost incidental to the community support, friendships made, postparkrun brunches and laughs along the way”.

In the 18 years since Paul fi rst realised the benefi ts of social, physical activity in a park, parkrun and junior parkrun has made a real impact on people’s health and wellbeing. Whether they walk, jog, run or volunteer – regularly or once in a blue moon – participation in parkrun changes lives.

Every single parkrun barcode represents a life. And we can impact that life in a signifi cant and positive way.

Our simple, standardised and scalable operational model is deliberately designed to remove barriers to the provision of physical activity opportunities (supply side) and barriers to participation (demand side).

Our health status is also spans. dynamic and infl uenced by a variety of factors – many of which Research suggests that happy are beyond our control – and people tend to live longer and

But we don’t have all the answers. And, as much as we try to remove barriers to participation and positive and encourage everyone to take way. part, we know that parkrun can’t be the whole solution. We are still fi nding our way, asking questions In doing so we can create a and talking to people from all healthier and a happier planet, for walks of life: parkrunners who everyone. are the lived reality, professionals

On the supply side, opportunities need to exist for people to be active, yet providers frequently face diffi culties in actually launching and sustaining physical activity opportunities. By nurturing local community assets parkrun makes it simple and

SECTION THREE: 6 MISSION & VISION

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SECTION THREE: MISSION & VISION

SECTION FOUR: ANNUAL REVIEW OF ACHIEVEMENTS AND PERFORMANCE

RETURN OF EVENTS WORLDWIDE

Every week for 15 months we sent an update to participants and event teams, to update on any progress being made with our attempts to return events at the earliest possible opportunity, and the other ways we were able to engage and support the parkrun community.

Throughout the Covid-19 pandemic we hugely increased the amount of survey and insight work we undertook with parkrun communities across all territories. Close to 200,000 survey responses were collected over this period, insight that was used to help us understand how parkrunners were feeling throughout this exceptional time, capturing attitudes towards their parkrun event returning within a particular time frame.

communities engaged and to activities and creative digital period in February 2021 with support togetherness and the communications in place to keep the majority of our events still continued promotion of the our communities engaged and suspended due to the Covid-19 benefi ts of movement, parkrun active. pandemic restrictions. However, was far from dormant in this time, with a commitment to keep our with many innovative ‘virtual’

The feedback gathered from this representative cohort of use to positively engage the wider participants, including a regular parkrun community. survey of their ‘intent to return’ to parkrun, combined with results of We have maintained the parkrun’s commissioned scientifi c (not)parkrun initiative, despite research into virus transmission the return of our events, as many rates at outdoor events and our parkrunners, unable to attend the operational Covid Framework Saturday morning events as often designed to minimise transmission as they would wish, enjoy the risks even further at events, was fl exibility of logging a 5k anytime invaluable in terms of informing and still feeling part of parkrun. our decisions and providing

(NOT)PARKRUN

One such activity, (not)parkrun, parkrun and those who had never which launched in June 2020, attended a parkrun event, who proved highly eff ective, providing were motivated by logging and the incentive for people to tracking their 5k eff orts. Just under complete a 5k run, jog or walk in 100,000 individuals logged around their own time, logging each event 1.6 million (not)parkruns over the on the adapted parkrun website. period that parkrun events were suspended.

The (not)parkrun initiative enabled us to create a platform The success of (not)parkrun and community of people, both also generated news and those already familiar with personal stories that we could

COMMERCIAL PARTNERS DURING PANDEMIC

We were very fortunate that our Our regular brand surveying commercial partners remained and tracking demonstrated so supportive throughout the that a partner’s continued pandemic, despite the disruption presence on our digital channels to parkrun events. We worked with appropriate content and hard to maintain high levels of messaging that supported the brand awareness and positive parkrun community translated to feeling towards our partner an increase in key performance brands amongst the parkrun indicators (for example brand audience, committing to additional awareness, positivity and liking, support and exposure on our intent to purchase), demonstrating digital platforms. the huge value in the digital sponsorship rights associated with parkrun.

This insight has allowed us to further refi ne our partnership model, placing a much greater emphasis on the opportunity that exists within digital rights, and to remove some of the more traditional rights such as event branding which comes with logistical challenges and an associated fi nancial cost and environmental impact.

More than one million people participated in 2022, 28% more than 2021

evidence for discussions with key stakeholders regarding the 2022 timing of return of events as the pandemic began to recede.

Nearly 150% We continued to lobby for increase in new the return of events as the levels 2021 participants in of Coronavirus infection were 2022 compared to 2021 declining. Recognising the negative impact on people’s mental and physical health stemming from decision to keep participation restrictions placed on activity and numbers smaller at these events

decision to keep participation numbers smaller at these events by only allowing 4-10 year olds to log a fi nish time. 11-14 year olds were welcome to volunteer and subsequently to log a juniour parkrun fi nish time when 5k events returned.

there were 379 junior events, 45 of which were new and 135,000 junior parkrunners completed almost 575,000 2k walks or runs supported by 35,000 volunteers.

There was huge support from our communities and stakeholders across the world for parkrun to return at the earliest possible moment. However, given the number of parkrun events in England, and our desire for all events to return at the same time to avoid issues of overcrowding, it was much more challenging to return our 5k events here.

Almost twice as many new events were delivered in 2022 compared to the previous year

socialising during the pandemic, we felt that it was essential that parkrun events were allowed to return, and that individuals and communities had the opportunity to participate at parkrun events once again, to experience the benefi ts of free, weekly, socially focussed, outdoor, physical activity.

However, with support from senior government ministers including the former Prime Minister Boris Johnson, former Sports Minister Nigel Huddleston, The London Mayor Sadiq Khan, David Davis, Chair of the All Party Parliamentary Group for parkrun Nick Smith, Lord Sebastien Coe and other high profi le athletes, our 5k events series returned in England on 24 July 2021.

At the start of 2021, with Coronavirus restrictions beginning to lift around the world, events were operating in New Zealand, the Falkland Islands, parts of Australia, Japan, Guernsey, the Isle of Man, Namibia and Russia.

By July 2021 the majority of parkrun events around the world had restarted.

In April 2021 we were able to return junior parkrun events in the UK. Initially we took the

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SECTION FOUR: ANNUAL REVIEW OF ACHIEVEMENTS AND PERFORMANCE

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SECTION FOUR: ANNUAL REVIEW OF ACHIEVEMENTS AND PERFORMANCE

PARTICIPATION POST COVID:

MILESTONE T-SHIRTS

Shortly after our 17th anniversary and the celebration of volunteering we launched a range of new milestone t-shirts. For the fi rst time, we recognised volunteering as an equal form of participation to walking, jogging and running, with the same milestone t-shirts available for all forms of participation.

At the same time, and due to the ever-increasing numbers of parkruners reaching milestones, we introduced a charge for the t-shirts, to cover costs and to remove what was becoming a signifi cant fi nancial liability.

This decision means we are now able to protect our fi nancial

reserves from the impact of this cost. This will allow us to invest in other areas of the business (such as technology, support and event delivery), rather than the provision of free t-shirts.

APP ONLY AROUND THE WORLD

NEW COMMERCIAL PARTNERS

by the prospect of using the old enable scanning of barcodes from equipment now feeling confi dent mobile devices (such as when a to take up the roles using their participant presents a barcode on phones. their phone for scanning rather than having a printed version The app also ensures a smarter, of their participant barcode). leaner approach to launching new Early evidence suggests this events and establishing parkrun in introduction has removed a new territories. tension and frustration that some parkrunners had at the point of In conjunction with the scanning.

We used the lockdown period to review aspects of our event delivery, and when we were able to return, we did so with every event team using the new Virtual Volunteer App in all territories.

The app has made the process of timing and barcode scanning easier and quicker, removing more barriers to volunteering, with people who had previously been reluctant to help, daunted

In conjunction with the worldwide use of the Volunteer App it seemed a logical step to

17TH ANNIVERSARY – OCTOBER 2021

With events settling back Our health and into a normal routine, our 17th wellbeing survey (published anniversary in October 2021 October 2019) completed by over provided the perfect excuse 60,000 parkrunners, confi rmed to celebrate one of our biggest our belief that participating at success stories: volunteers.

professionals who have prescribed parkrun (in a UK partnership initiative with the Royal College of General Practitioners) recommended volunteering to their patients, as well as walking, jogging or running, an indication that healthcare professionals recognise the value and positive physical and mental health benefi ts of volunteering.

in 2004, more than 500,000 people have volunteered at 2,200 locations in 23 countries around the world, clocking up a staggering six million instances of volunteering between them.

We now understand that volunteering isn’t a sacrifi ce, or about ‘giving up your time,’ rather it’s a hugely positive form of participation that can have a transformative impact on so many people’s lives. Some people need to volunteer as much as others need to walk, jog or run. As such, we now promote volunteering as an act of choice and look to maximise volunteering opportunities at events.

parkrun is fundamentally good for It’s only in the past few years our physical and mental health. that we have really begun to It also revealed that the biggest understand how benefi cial the benefi ts were experienced by act of volunteering is to the those who volunteered in addition volunteer in terms of their own to walking and running. An health and wellbeing, with clear incredible 84% of volunteers said improvements in sense of purpose parkrun improved their happiness. through community engagement, belonging and self-worth. Our insight is further supported

Our insight is further supported by the fact that 34% of healthcare

year global partnership.

In autumn 2021, we welcomed two new UK commercial partners to the fold: Skinner’s dog food and iPRO the healthy hydration drinks brand.

In addition to regular walks, 70% of dog-owners regularly went for a run or long jog with their dog and 25% of respondents took their dogs to parkrun events.

Both Skinners and iPRO share parkrun’s values and goals and are passionate about encouraging healthy, active lifestyles and we look forward to working together over the coming years.

A survey by Skinner’s and parkrun found that dog owners like to get active with their dogs.

In October 2021 iPro became parkrun’s Global Hydration

FOUR YEARS IN CUSTODIAL SITES ANNIVERSARY

important aim of the initiative, with parkrun providing a welcoming, non-judgemental, and positive community that can help support reintegration into society.

We proudly celebrated our on custodial estates in the UK, fourth year of parkrun events Australia and Ireland, with around within the custodial estate in 7,000 diff erent people completing November 2021. Every Saturday the 5k and almost 2,000 diff erent hundreds of people in prisons, people volunteering. young off ender institutions, and correctional facilities are walking, Custodial events create a jogging, running and volunteering structure and routine which can as part of the global parkrun be aligned with families and is family. a habit that can continue upon release. Participants have spoken Since the launch of the very of the positive impact of the event fi rst custodial event, Black Combe on their health and wellbeing but parkrun at HMP Haverigg in also on the relationships between November 2017, a further 37 those in custody and prison staff .

After four years of parkrun in the custodial estate we are excited about what the future holds. More custodial events, more people taking part and yet more evidence that parkrun is truly open to all and can be life changing.

Since the launch of the very fi rst custodial event, Black Combe parkrun at HMP Haverigg in November 2017, a further 37 events have been established

CHANGE OF CEO AND ORGANISATIONAL REVIEW

Towards the end of the year we embarked on a companywide culture review, designed to understand how the organisation could improve and better position itself for the future, seeking feedback directly from employees around the world.

During this period, our CEO that, like many organisations, we Nick Pearson announced he had suff ered greatly from not would be stepping down, with being able to interact with each Global Head of Communications other in person, or spend time Russell Jeff erys taking over from 1 together focused on the work February 2022. we love: getting people active, outdoors, and, most importantly The culture review confi rmed of all, social.

something we knew to be true:

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SECTION FOUR: ANNUAL REVIEW OF ACHIEVEMENTS AND PERFORMANCE

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

The independent report sought enjoyed working at parkrun we have implemented a raft to understand what we could and got on brilliantly with their of changes in response to the do better as an employer and as colleagues, this piece of work was feedback received. colleagues, and what the most directly targeted at the things that important things were that we we weren’t getting right and what Our ambition is for parkrun to needed to do in order to maximise therefore could be done better. In be a truly global movement and our own work-based health and some cases much better. a world class organisation. To happiness. that end, we will continue to work In March this year, the full hard ensuring we are following All of our employees were internal culture report was shared, best practice, fully aware of our interviewed in-depth and given in confi dence, with our entire team responsibilities as a global charity the opportunity to feedback including the Trustees, alongside and as an employer, exceeding anonymously on areas that were a detailed plan of action to take expectations and challenging causing them issues or concern. the organisation forward. In the ourselves to be better. Whilst most people still thoroughly seven months that have followed

START WITH . . . PARKRUN

Our new year campaign over 500,000 individuals did ‘Start with parkrun’ encouraged not complete their fi rst parkrun parkrunners to introduce a friend parkrun who otherwise would or family member to parkrun, have. Recency of registration sharing advice for what to expect has a big impact on participation at parkrun for prospective fi rst numbers, since 19% of our weekly timers. participants began parkrunning in the previous 12 months. We know that during the 18 months where most events We can confi dently predict were suspended, in the UK alone therefore that these 500,000

‘lost’ parkrunners would have accounted for 3 million instances of participation over 2 years and 7 million over 5 years.

We continue to monitor the impact of Covid-19 on participation at parkrun events and, whilst average participation is lower than it was pre-pandemic, demand for new events remains strong.

LOOKING AHEAD

Taking the decision to suspend In March 2022 we took the able to resume events in the notor close events is something we decision to suspend events in too-distant future. take very seriously, and try to Russia, following the invasion of avoid unless there is simply no Ukraine. At the time of publishing Despite the challenges, we look other option. parkrun is a health this report there is unfortunately ahead to the 2022-23 fi nancial and wellbeing charity and an no short or medium term prospect year and beyond in a position apolitical organisation, with a of parkrun events returning in of strength and with optimism. remit and focus that is all about Russia. The majority of our wonderful providing communities with access communities are once again to free, weekly opportunities In June 2022 we took the delivering events every weekend. to be physically active, social decision to suspend events in We have exciting plans for the and outside. We believe that, in France due to the lack of clarity future, fantastic support from principle, everyone, everywhere around the requirement for commercial partners and key should have the opportunity to parkrun events to ask for and stakeholders and we look forward participate at our events. collect medical certifi cates. to extending the reach of our events and to further engage with However, as was the case during Since suspension in France we communities to transform health the lockdowns associated with the have been working with our legal and happiness by empowering Covid-19 pandemic, sometimes representatives and partners in people to come together, to exceptional circumstances mean France to gain the clarity we need be active, social and outdoors, that we must suspend or cancel to resume operations. At the wherever they are in the world. our events. time of publishing this report, we remain optimistic that we will be

SECTION FIVE: GOVERNANCE SUMMARY

The Trustees present their The charitable company’s report and the audited fi nancial objects are to promote community statements for the year ended participation in health recreation 31 January 2022. Reference and by: administrative information set out on page 40 forms part of this • Organising and providing report. The fi nancial statements running events, and comply with current statutory requirements, the memorandum • Creating opportunities for and articles of association and members of the community the Statement of Recommended to participate in and/or Practice – Accounting and volunteer at such running Reporting by Charities: SORP events. applicable to charities preparing their accounts in accordance with Trustees are appointed in FRS 102.

On joining the organisation, new Trustees meet the Chair, the other Trustees and the Executive team before their fi rst meeting. In addition, they are invited 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 Commission’s guidance to becoming a new Trustee (CC3).

Trustees are appointed in accordance with Sport England’s Code for Sport Governance and the Charity Governance Code. The Nominations Committee handles new Trustee recruitment, and new Trustees are appointed by an ordinary resolution of the members or by co-option by the Trustees. The minimum number of Trustees is three and the maximum number is 7 (increasing to 12 by a special resolution (27th July 2022)).

The Global Board meets six times a year with occasional additional meetings as needed. The Trustee role is unremunerated, but Trustees are able to claim expenses where relevant.

parkrun Global Limited is a charitable company limited by guarantee, incorporated on 28 January 2015 in England and Wales (with company number 09411750) and registered the Charity Commission for England and Wales (with registered number 1170562) as a charity on 10 October 2017.

The Global Board is accountable for the work of The Charity. The matters reserved for parkrun’s Global Board include the approval of strategy, the budget, holding the senior leadership team to account for the delivery of the business plan and the Annual Report and Accounts. The Board also retains oversight of management controls and corporate governance, along with the appointment of Trustees and the Chief Executive.

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

In line with our ambition to create a truly global movement and a world class organisation, we are currently (October 2022) recruiting new Trustees with a view to having a number of new Trustees in post by January 2023.

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SECTION FIVE: GOVERNANCE SUMMARY

SUB-COMMITTEES

parkrun Global has appointed fi ve committees to help with the execution of its responsibilities. Members are appointed by the Global Board. The committees meet regularly and members are:

Remuneration

Finance and Audit

Gavin Megaw (Chair), Jeremy Townsend, Christine Gibbons

Jeremy Townsend (Chair), Jonathan Cooke, Russell Jeff erys

Safeguarding

Governance and Risk

Gavin Megaw (Chair), Clare Fowler, Helen Dickens, Tom Williams

Christine Gibbons (Chair), Russell Jeff erys, Paul Sinton-Hewitt

Nominations

Gavin Megaw (Chair), Jeremy Townsend, Christine Gibbons

Chief Operating Head organisational pay through of Finance, Head of Health and the annual budget, and the Wellbeing, Head of People and Remuneration Committee Culture, Head of Communications, considered and approved the Managing Director APAC and the appointment and remuneration of Founder and Executive Director. new roles in the Executive Team in consideration of good practice in During the fi nancial year, the charity sector.

The parkrun Global Board has delegated authority to the Chief Executive who leads the Senior Leadership team for oversight of parkrun Global and its subsidiaries.

During the year, the Board reviewed and agreed

The Senior Leadership Team comprises the Chief Executive,

THE CHARITY GOVERNANCE CODE

parkrun Global fully supports the Charity Governance Code, recognising its importance in promoting good governance. parkrun Global does, and will

continue to, improve its own governance where necessary in accordance with the Code, and has an action plan in place to ensure full compliance.

SUBSIDIARIES

parkrun Global Ltd has the following subsidiaries:

parkrun Global Ltd has the In addition to the territorial Wales with company number following subsidiaries: subsidiaries listed above, parkrun 11222647), which works with Global Ltd has a wholly-owned suppliers to manufacture and sell • parkrun Ltd non-charitable subsidiary, the CONTRA range of ethically parkrun Trading Limited, which produced running apparel. • parkrun Australia Ltd undertakes parkrun’s commercial activities. parkrun Trading Limited parkrun Trading Limited is • parkrun South Africa NPC is incorporated as a company incorporated in England and Wales to conduct trading activities to (with company number 06053983). • parkrun US support parkrun’s charitable objectives. It donates its profi ts to The Group Consolidated • parkrun Canada The Charity via a distribution. The Statements include The Charity payment from parkrun Trading and its subsidiaries. The Each subsidiary is registered Limited to The Charity in 2020/21 fi nancial results for 2021/22 of in its country of incorporation was £103,000 (2019/20 £92,000). all subsidiaries are summarised and has its own board, which is in Note 14a to the Financial responsible for delivering parkrun parkrun Trading Ltd has a Statements. in line with the global framework subsidiary company, PSH Retail within that territory. Ltd (incorporated in England and

Each subsidiary is registered in its country of incorporation and has its own board, which is responsible for delivering parkrun in line with the global framework within that territory.

RISK MANAGEMENT

The Governance and Risk Committee has responsibility for oversight and review of the risk management policy and process, and reviews the risk register on a quarterly basis. The Board reviews the risk register on an annual basis following reports by the committee.

operational and organisational risks on a regular basis, and ensuring that appropriate internal controls and actions are in place and aimed at mitigating risks.

the risk register on an annual The risk register considers basis following reports by the the impact and likelihood of the committee. risks. Ownership of the risks is assigned to a member of the The Risk Manager, working Senior Leadership Team who is with the Senior Leadership accountable for ensuring controls, Team, is responsible for the risk policies and procedures are register, reviewing the signifi cant implemented and improved.

The Trustees consider the principal risks to the Charity and its subsidiaries to be in the following areas:

1. Closure of all events in

the organisation. and price rises increase our cost base and cost of delivery, either directly with suppliers or indirectly through our ability to maintain an appropriately sized and skilled workforce. The parkrun community, our supporters and wider stakeholders who provide vital income to the organisation through regular donations, retail purchases, grants and sponsorship, are all feeling the eff ects of the economic

1. Closure of all events in to work with national bodies a region over the short, and health organisations to medium, or long term. ensure that any future event (Blanket cancellations) cancellations are minimised and events can return where The vast majority of parkrun appropriate as quickly as events around the world have possible.

The vast majority of parkrun events around the world have returned after the Covid-19 pandemic. However, a resurgence in the virus (or the discovery of a new virus) and a return to restrictions that require further cancellations of events continues to be a threat. parkrun will continue

2. Economic risks

The worsening economic environment, increasing cost of living, rising prices and associated economic pressures creates a risk to

14

15

PARKRUN GLOBAL LIMITED PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22 ANNUAL REPORT 2021 - 22

SECTION FIVE: GOVERNANCE SUMMARY

SECTION FIVE: GOVERNANCE SUMMARY

downturn. There is therefore 4. Organisational growth a risk of a reduction in our income which would further Covid-19 pandemic limit our ability to deliver our strategic objectives. The Board deem it sensible therefore to maintain a high level of reserves and an appropriate investment plan to off set these pressures should they arise, and to ensure the commercial strategy is based on achieving a diverse revenue stream.

One of the impacts of the Covid-19 pandemic is the negative impact on our health and wellbeing. Coupled with the deteriorating economic climate and the cost of living crisis, parkrun (as a regular, have access to an Automated free to access health and External Defi brillator (AED), wellbeing initiative) has never been needed more. Since with 100% coverage across the UK, Ireland, and Australia, returning post-Covid, we have all events have a basic fi rst seen strong demand for new aid kit, and we record and events in existing territories, and in new locations around review all global safeguarding and medical incidents within the world. The organisation a single, centralised, global needs to be able to respond incident reporting system. to this demand, to be able We undertake regular reviews to expand, but to do so of safeguarding and medical sustainably. The risk is that our limited resources and incidents and processes, and small back offi ce team is ensure that we have suitable safeguarding controls and overwhelmed by an increasing checks in place for event and unmanageable workload. volunteers. The strong cash reserves and clarity around a new 5-year strategy give us the 6. Reputational risks confi dence we need to invest in the team and resources The Trustees work hard in order to respond to these to ensure parkrun has a opportunities and challenges robust set of policies and in a sustainable way. agreements in place (such

3. Data security

As parkrun grows in popularity around the world, with thousands more people registering every week, we are aware that we face increasing threats and challenges in relation to cyber-crime and data protection. Additionally, there is an increased risk to the organisation from failure to manage our data, information systems and processes appropriately. A successful cyber attack or signifi cant data breach could lead to loss of data, an inability to deliver events and services and ultimately lead to reputational impact and damage for the organisation as well as possible regulatory non- compliance and fi nes. We continue to review our IT security policies and procedures, implementing enhancements wherever necessary, work which will continue during 2022–2023.

The Trustees work hard to ensure parkrun has a robust set of policies and agreements in place (such as whistleblowing, volunteer agreements, health and safety, safeguarding, social media and cyber security) which help to mitigate against damage to reputation that could result from failures in these areas.

5. Safeguarding and medical

Given the size and scale of parkrun, with thousands of children and vulnerable adults participating every week, there is a risk of a serious safeguarding or medical incident occurring at any time. Around 75% of all global parkrun events

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FINANCIAL REVIEW

During the year to 31 January 2022 parkrun Global continued to focus on the challenges of the global COVID pandemic. Events began to return safely during 2021, with a signifi cant percentage of events operational by the year end.

As events returned throughout the year, costs rose, as expected, and have increased compared to the previous year. Total expenditure was £4,339,988 (2021 £3,898,862).

Our total income increased signifi cantly to £5,590,956 (2021 £4,260,970) which was largely due to the net assets of our Australian subsidiary being donated to Global (£1,460,387). Income without this donation was £4,130,569.

RESERVES POLICY

The Trustees have considered the future viability of the group and its ability to continue as a going concern, while regularly monitoring cash fl ow forecasts. Having reviewed the makeup of the group’s working capital and net current assets position at the yearend, the Trustees are confi dent that the group has suffi cient resources to continue with its operations and seek to achieve its objectives. Consequently, the fi nancial statements have been prepared on a going concern basis.

FUNDRAISING

With Covid restrictions now lifted, parkrun has and will continue to expand and therefore the costs associated with supporting events, ensuring consistency and safety, and maintaining the key founding principle that participation should

We expect to see continued growth in income and expenditure as parkrun continues to grow around the world in line with our new 5-year strategy (2023-28).

utilised during the year, has had a substantial impact on the reduction of restricted reserves at the end of the fi nancial year.

The Trustees constantly monitor cash fl ow requirements and are pleased to see the cash held at the end of the year has increased to £1,792,980 (2021 £430,690).

The group has net assets of £3,375,217 (2021 £2,124,249), represented by unrestricted funds of £2,992,672 (2021 £547,132) and restricted funds of £382,545 (2021 £1,577,117).

Funds provided through The Trustees are pleased with parkrun donations continue to the signifi cant improvement in the help support costs at individual position between the percentage events. The Trustees are grateful of unrestricted and restricted for the continued support from reserves, for which there are a the participants themselves. number of contributing factors. At the year end, an increase in funds to £382,545 from the 2021 The inclusion of parkrun position of £377,117 (per note 22a Australia into the group has of the accounts), were available to notably increased the unrestricted support individual event specifi c reserves, whilst the Sport funding requirements going England grant, which was fully forward.

calculate that £1.9m is required to maintain our working capital commitments, while also ensuring we have suffi cient funds in reserve to continue the fi nancial sustainability of the global organisation.

The current reserves position has improved materially since the prior year. Restricted funds total £382,545 (2021 £1,577,117) and General funds total £2,992,672 (2021 £547,132). The detail of the funding provided is given in Note 21 of the accounts.

The reserves policy is The Trustees consider it calculated and assessed according appropriate to hold a higher level to an overall risk policy. Due to of unrestricted reserves to support fi xed assets being required for our growth investment strategy the functional operation of the and as such we have isolated a charity, the general reserves designated fund for operational after deducting the fi xed assets investment.

be at no cost to the individual, will inevitably increase signifi cantly too.

parkrun continues to develop a range of commercial strategies to raise funds to support growing overheads. The Trustees continue to pursue a strategy of building self suffi ciency through a diverse range of revenue streams.

The Trustees support a responsible approach to increasing scale, however it is important that

17

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION FIVE: GOVERNANCE SUMMARY

SECTION FIVE: GOVERNANCE SUMMARY

and participation objectives set up small regular donations to 80% of parkrun Global’s revenue and receives grant funding to support the central overheads was generated in the UK. Funds support these activities. During and costs that maintain the are generated from four main the fi nancial year, parkrun worked broader parkrun infrastructure revenue streams. with Sport England on specifi c and systems. In the fi nancial year projects. In the fi nancial year, parkrun Forever continued to be Sponsorship parkrun secured a £5m grant from an important part of parkrun’s Sport England, for the fi ve year revenue mix with over £451,069 Historically this has been period 2022-2027. raised in 2021-22, (£445,411 2020the main source of revenue 21). for parkrun, and in 2021-22 Retail accounted for around 31.6% of parkrun Global Ltd is not revenue, down from around 40% Retail continues to be an currently registered with the in 2020-21. parkrun partners important and growing part of our Fundraising regulator but the with commercial organisations commercial strategy, as parkrun Trustees are taking professional to promote their products to the seeks to avoid an over-reliance on advice in relation to this matter. parkrun community, through one revenue stream. Merchandise In the year, parkrun Global Ltd digital marketing and visits to sales were signifi cantly impacted received no complaints in relation parkrun events (activations). by the suspension of events, with to fundraising (2020-21: none). Sponsorship income continued to a decline in sales (especially ID be particularly resilient during the wristbands and the apricot range We ensure that both our period of event closures due to of running apparel) directly related staff and our partners protect strong commercial relationships to the drop in weekly participation vulnerable people and others and parkrun’s ability to continue as a consequence of ongoing from unreasonable intrusion on to deliver value across digital cancellations. a person’s privacy, unreasonably channels, even in the absence of persistent approaches or live events. Donations undue to

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 (2020-21: none).

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

• practices have been followed, subject to any material departures disclosed and explained in the fi nancial statements

order to make himself/herself

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 fi nancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

We ensure that both our staff and our partners protect vulnerable people and others from unreasonable intrusion on a person’s privacy, unreasonably persistent approaches or undue pressure to give.

• Prepare the statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

• The Trustees are responsible for the maintenance and integrity of the corporate and fi nancial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of fi nancial statements may diff er from legislation in other jurisdictions.

Grant Funding In 2019 parkrun launched the online donations platform parkrun works with parkrun Forever, which gives the organisations to further health community the opportunity to

Company law requires the Trustees to prepare fi nancial statements for each fi nancial year which give a true and fair view of the state of aff airs 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 fi nancial statements, the Trustees are required to:

for each The trustees are responsible for governing the preparation year which give a true and fair keeping proper accounting records and dissemination of fi nancial view of the state of aff airs of the that disclose with reasonable statements may diff er charitable company and group accuracy at any time the fi nancial from legislation in other and of the incoming resources and position of the charitable company jurisdictions. application of resources, including and enable them to ensure that the the income and expenditure, of fi nancial statements comply with The Trustees’ annual report the charitable company or group the Companies Act 2006. They are has been prepared in accordance for that period. In preparing these also responsible for safeguarding with the provisions applicable to fi nancial statements, the Trustees the assets of the charitable companies subject to the small are required to: company and the group and hence companies’ regime. for taking reasonable steps for the • Select suitable accounting prevention and detection of fraud The Trustees’ annual report has policies and then apply them and other irregularities. been approved by the Trustees on consistently 28 October 2022 and signed on Each of the Trustees confi rms their behalf by

FUTURE PLANS

As parkrun emerges from the ambition to transform parkrun (increased expenditure on salaries global Covid-19 pandemic we are into a truly global movement, and some supplier costs), with extremely well placed to deliver and world-class organisation, specifi c investment and focus, vital free, weekly, low barrier to positively impacting the health and as the parkrun community delivery and participation, physical and happiness of millions of grows, we expect to see increases activity events. Our strong people across increasingly diverse in revenue, particularly in retail, fi nancial position means we can communities. sponsorship and donations. We invest in the organisation with therefore expect a signifi cant confi dence, and to develop a new Whilst we do expect the wider increase in the scale and strategy which will set out how we economic climate of high infl ation income and expenditure of the intend to grow as an organisation and increasing energy costs to organisation in the year ahead. over the next fi ve years, with an have an impact on our cost base

Chair of Trustees

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19

SECTION FIVE: GOVERNANCE SUMMARY

PARKRUN GLOBAL LIMITED PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22 ANNUAL REPORT 2021 - 22

SECTION FIVE: GOVERNANCE SUMMARY

OTHER INFORMATION

SECTION SIX: AUDITOR’S REPORT

The other information in our report, we do not express material misstatements, we are comprises the information any form of assurance conclusion required to determine whether included in the trustees’ annual thereon. Our responsibility is to this gives rise to a material report other than the group read the other information and, misstatement in the group fi nancial statements and our in doing so, consider whether the fi nancial statements themselves. auditor’s report thereon. The other information is materially If, based on the work we have trustees are responsible for the inconsistent with the group performed, we conclude that there other information contained within fi nancial statements or our is a material misstatement of this the annual report. Our opinion on knowledge obtained in the course other information, we are required the group fi nancial statements of the audit or otherwise appears to report that fact. does not cover the other to be materially misstated. information, and, except to the If we identify such material We have nothing to report in extent otherwise explicitly stated inconsistencies or apparent this regard.

material misstatements, we are required to determine whether this gives rise to a material misstatement in the group fi nancial 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.

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

OPINION

is applicable law and United statements of parkrun Global Kingdom Accounting Standards, Limited (the ‘parent charitable including FRS 102 The Financial company’) and its subsidiaries Reporting Standard applicable (the ‘group’) for the year ended in the UK and Republic of Ireland 31 January 2022 which comprise (United Kingdom Generally the consolidated statement of Accepted Accounting Practice). fi nancial activities, the group and parent charitable company In our opinion, the fi nancial balance sheets, the consolidated statements: statement of cash fl ows and the notes to the fi nancial statements, • Give a true and fair view of the including a summary of signifi cant state of the group’s and of the accounting policies. The fi nancial parent charitable company’s reporting framework that has aff airs as at 31 January 2022 been applied in their preparation and of the group’s incoming

resources and application of resources, including its income and expenditure, for the year then ended

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

• The trustees’ annual report the fi nancial statements are has been prepared in prepared is consistent with accordance with applicable the fi nancial statements legal requirements

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

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 identifi ed material misstatements in the trustees’ annual report.

parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• The parent charitable company fi nancial statements are not in agreement with the accounting records and returns; or

BASIS FOR OPINION

We conducted our audit in statements section of our report. accordance with International We are independent of the group Standards on Auditing (UK) (ISAs and parent charitable company (UK)) and applicable law. Our in accordance with the ethical responsibilities under those requirements that are relevant standards are further described to our audit of the fi nancial in the Auditor’s responsibilities statements in the UK, including for the audit of the group fi nancial the FRC’s Ethical Standard, and

responsibilities in accordance We have nothing to report in with these requirements. We respect of the following matters in believe that the audit evidence relation to which the Companies we have obtained is suffi cient and Act 2006 and Charities Act 2011 appropriate to provide a basis for requires us to report to you if, in our opinion. our opinion:

• Certain disclosures of trustees’ remuneration specifi ed by law are not made; or

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the any material uncertainties relating statements, we have concluded to events or conditions that, that the trustees’ use of the going individually or collectively, may concern basis of accounting in cast signifi cant doubt on parkrun the preparation of the fi nancial Global Limited’s ability to continue statements is appropriate. as a going concern for a period of at least twelve months from Based on the work we have when the fi nancial statements are performed, we have not identifi ed authorised for issue.

Based on the work we have performed, we have not identifi ed

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

20

21

SECTION SIX: AUDITOR’S REPORT

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION SIX: AUDITOR’S REPORT

RESPONSIBILITIES OF TRUSTEES

As explained more fully In preparing the in the statement of trustees’ statements, the trustees are responsibilities set out in the responsible for assessing the trustees’ annual report, the group’s and the parent charitable trustees (who are also the company’s ability to continue as directors of the parent charitable a going concern, disclosing, as company for the purposes of applicable, matters related to company law) are responsible for going concern and using the going the preparation of the fi nancial concern basis of accounting unless statements and for being satisfi ed the trustees either intend to that they give a true and fair view, liquidate the group or the parent and for such internal control as the charitable company or to cease trustees determine is necessary to operations, or have no realistic enable the preparation of fi nancial alternative but to do so. statements that are free from material misstatement, whether due to fraud or error.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed is a high level of assurance, but Irregularities, including fraud, auditor under the Companies is not a guarantee that an audit are instances of non-compliance Act 2006 and section 151 of the conducted in accordance with ISAs with laws and regulations. We Charities Act 2011 and report in (UK) will always detect a material design procedures in line with our accordance with those Acts. misstatement when it exists. responsibilities, outlined above, to Misstatements can arise from detect material misstatements in Our objectives are to obtain fraud or error and are considered respect of irregularities, including reasonable assurance about material if, individually or in the fraud. The extent to which whether the fi nancial statements aggregate, they could reasonably our procedures are capable of as a whole are free from material be expected to infl uence the detecting irregularities, including misstatement, whether due to economic decisions of users taken fraud are set out below. fraud or error, and to issue an on the basis of these fi nancial statements.

Our objectives are to obtain reasonable assurance about whether the fi nancial 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

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nancial Because of the
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• We inspected the minutes of meetings of those charged with governance.

• We reviewed the fnancial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

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 fi nancial 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 refl ected in the fi nancial 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.

• 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 eff ect on the fi nancial statements or that had a fundamental eff ect on the operations of the group from our professional and sector experience.

• 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 tested signifi cant transactions that are unusual or those outside the normal course of business.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

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.

• We reviewed any reports made to regulators.

CAPABILITY OF THE AUDIT IN DETECTING IRREGULARITIES

In identifying and assessing • Identifying, evaluating, and risks of material misstatement in complying with laws and respect of irregularities, including regulations and whether they fraud and non-compliance were aware of any instances with laws and regulations, our of non-compliance; procedures included the following: • Detecting and responding to • We enquired of management, the risks of fraud and whether and the Finance and Audit they have knowledge of any Committee, which included actual, suspected, or alleged obtaining and reviewing fraud; supporting documentation, concerning the group’s • The internal controls policies and procedures established to mitigate risks relating to: related to fraud or non-

• The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.

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 2022

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

22 PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

23

SECTION SIX: AUDITOR’S REPORT

SECTION SIX: AUDITOR’S REPORT

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION SEVEN:

FINANCIAL STATEMENTS

Balance sheets

As at 31 January 2022

Company No. 09411750

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The group The charity
2022 2021 2022 2021
Note £ £ £ £
Fixed assets:
Tangible assets 13 519,631 270,296 - -
Investments 14 - - 1,000 1,000
519,631 270,296 1,000 1,000
Current assets:
Stock 16 1,192,260 729,104 - -
Debtors 17 896,923 2,156,069 907,651 629,346
Cash at bank and in hand 1,792,980 430,690 240,859 280,832
3,882,163 3,315,863 1,148,510 910,178
Liabilities:
Creditors: amounts falling 18 (991,577) (1,461,910) (24,149) (94,937)
due within one year
Net current assets 2,890,586 1,853,953 1,124,361 815,241
Total assets less current 3,410,217 2,124,249 1,125,361 816,241
liabilities
Creditors: amounts falling 19 (35,000) - - -
due after one year
Total net assets 3,375,217 2,124,249 1,125,361 816,241
Funds: 22a
Restricted income funds 382,545 1,577,117 - -
Unrestricted income funds 2,992,672 547,132 1,125,361 816,241
Total funds 3,375,217 2,124,249 1,125,361 816,241
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Approved by the trustees on 28 October 2022 and signed on their behalf by

For the year ended 31 January 2022

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2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations 2 451,069 116,037 567,106 445,411 56,077 501,488
Charitable activities
Event related income 3 433,407 - 433,407 336,741 1,200,000 1,536,741
Other trading activities 4 3,129,064 - 3,129,064 2,222,608 - 2,222,608
Investments 5 992 - 992 133 - 133
Other 6 1,460,387 - 1,460,387 - - -
Total income 5,474,919 116,037 5,590,956 3,004,893 1,256,077 4,260,970
Expenditure on:
Raising funds 7 1,040,349 - 1,040,349 907,931 - 907,931
Charitable activities
Event related expenses 7 1,989,030 1,310,609 3,299,639 1,943,377 1,047,554 2,990,931
Total expenditure 3,029,379 1,310,609 4,339,988 2,851,308 1,047,554 3,898,862
Net income / (expenditure) for the year 8 2,445,540 (1,194,572) 1,250,968 153,585 208,523 362,108
Transfers between funds - - - - - -
Net movement in funds 2,445,540 (1,194,572) 1,250,968 153,585 208,523 362,108
Reconciliation of funds:
Total funds brought forward 547,132 1,577,117 2,124,249 393,547 1,368,594 1,762,141
Total funds carried forward 2,992,672 382,545 3,375,217 547,132 1,577,117 2,124,249
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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 22 to the fi nancial statements.

Gavin Megaw Chair of Trustees parkrun Global Limited

SECTION SEVEN: 24 PARKRUN GLOBAL LIMITED FINANCIAL STATEMENTS ANNUAL REPORT 2021 - 22

25

SECTION SEVEN: FINANCIAL STATEMENTS

For the year ended 31 January 2022

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2022 2021
£ £ £ £
Cash fl ows from operating activities
Net income for the reporting period 1,250,968 362,108
(as per the statement of fi nancial activities)
Depreciation charges 124,883 132,159
Interest from investments (992) (133)
Cash received on acquisition of subsidiary (1,197,426) -
Increase in stocks (463,156) (246,918)
Decrease/(increase) in debtors 1,259,146 (453,164)
(Decrease)/increase in creditors (431,592) 222,505
Net cash provided by operating activities 541,831 16,557
Cash fl ows from investing activities:
Cash received on acquisition of subsidiary 1,197,426 -
Interest received 992 133
Purchase of fi xed assets (374,218) (42,314)
Net cash used in investing activities 824,200 (42,181)
1,366,031 (25,624)
Cash fl ows from fi nancing activities:
Repayments of borrowing (3,741) -
Cash infl ows from new borrowing - 50,000
Net cash (used in) / provided by fi nancing activities (3,741) 50,000
Change in cash and cash equivalents in the year 1,362,290 24,376
Cash and cash equivalents at the beginning of the year 430,690 406,314
Cash and cash equivalents at the end of the year 1,792,980 430,690
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Analysis of cash and cash equivalents and of net Debt

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At 1 February 2021 Cash fl ows Other non-cash changes At 31 January 2022
£ £ £ £
Cash at bank and in hand 430,690 1,362,290 - 1,792,980
Loans (50,000) 3,741 - (46,259)
Total 380,690 1,366,031 - 1,746,721
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For the year ended 31 January 2022

1. ACCOUNTING POLICIES

a. Statutory information

a. Statutory information and Reporting by Charities: Basis of consolidation parkrun Global Limited is a Statement of Recommended These fi nancial statements charitable company limited Practice applicable to charities consolidate the results of by guarantee, incorporated preparing their accounts in the charity and its whollyand registered in England accordance with the Financial owned subsidiaries parkrun and Wales. The company’s Reporting Standard applicable Limited, parkrun Trading registered offi ce address and in the UK and Republic of Limited, Parkrun South Africa principal place of business is Ireland (FRS 102) – (Charities NPC and parkrun Australia Frameworks, 2 Sheen Road, SORP FRS 102), The Financial Ltd from 1 July 2021 on a line Richmond, TW9 1AE. Reporting Standard applicable by line basis. The results of in the UK and Republic PSH Retail Limited which is a of Ireland (FRS 102) and wholly owned subsidiary of b. Basis of preparation The fi nancial statements the Companies Act 2006. parkrun Trading Limited are also included. Transactions have been prepared in and balances between the

b. Basis of preparation

The statements have been prepared in accordance with Accounting

charity and its subsidiaries have been eliminated from the consolidated fi nancial statements. Balances between the fi ve entities are disclosed in the notes of the charity’s balance sheet. A separate statement of fi nancial 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 profi t and loss account.

Two subsidiaries are not consolidated within the fi nancial statements, as their inclusion within the consolidation have no signifi cant 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 reporting framework, the trustees have made a number of subjective judgements, for example in respect of signifi cant 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 diff er from those estimates. Any signifi cant estimates and judgements aff ecting these fi nancial statements are

detailed within the relevant accounting policy below.

income have been met, it is probable that the income will be received and that the amount can be measured reliably.

of a public benefi t entity under FRS 102.

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.

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 continues to operate in an uncertain global environment. Government restrictions around the world meant parkrun events were severly restricted until the middle of 2021 although parkruns in all countries are now fully operational. parkrun events themselves do not f. directly generate income and the trustess are pleased to report that sponsors, partners and authorities around the world continue to remain supportive of parkrun and as such the trustees believe that the level of fi nancial support that they are expecting over forthcoming months is suffi cient to enable parkrun to continue as a going concern. The inclusion of parkrun Australia as a group company within this years accounts has also boosted cash reserves further assuring parkun can continue as a going concern.

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

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 notifi cation of the interest paid or payable by the bank.

g. Fund accounting

Restricted funds are to be used for specifi c 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.

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

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 classifi ed under the following activity headings:

e. Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the

26

27

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

at amortised cost using the eff ective interest method.

strategic management of the charity’s activities.

selling price. In general, cost is determined on a fi rst in fi rst out basis and includes transport and handling costs. Provision is made where necessary for obsolete, slow moving and defective stocks.

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

Stocks of Milestone T shirts are now shown within the year end stock fi gure at the lower of cost and estimated selling price. Previously Milestone T shirts were provided free to qualifying paticpants and the value of T shirst held at the year end was not shown in the balance sheet although costs were prepaid in order to match the cost of providing the shirts. with the relevant period in which they were awarded.

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.

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.

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:

n. Debtors

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

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.

o. Cash at bank and in hand

33% on cost Plant and and 10% on machinery cost

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.

Fixtures and 20% on cost fi ttings 50% reducing Computer balance and equipment 33% on cost

Organising parkrun 88% events Commercial 12% sponsorship

p. Creditors and provisions

l. Investments in subsidiaries Investments in subsidiaries are at cost.

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

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

m. Stocks

Stocks are stated at the lower of cost and estimated

of a kind that qualify as basic fi nancial instruments. Basic fi nancial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured

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.

r. Pensions

contribution pension scheme. Contributions payable to the group’s pension scheme are charged to profi t or loss in the period to which they relate.

q. Financial instruments

assets and fi nancial liabilities

2. INCOME FROM DONATIONS

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Gifts and donations 451,069 116,037 567,106 445,411 56,077 501,488
451,069 116,037 567,106 445,411 56,077 501,488
----- End of picture text -----

3. INCOME FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Event related 318,850 - 318,850 7,728 - 7,728
income UK
Event related 109,216 - 109,216 309,013 - 309,013
income Overseas
Grants 5,341 - 5,341 20,000 1,200,000 1,220,000
Total income 433,407 - 433,407 336,741 1,200,000 1,536,741
from charitable
activities
----- End of picture text -----

The detail of restricted grants is given in Note 22.

4. INCOME FROM OTHER TRADING ACTIVITIES

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Retail sales and 1,360,741 - 1,360,741 516,866 - 516,866
advertising
Corporate 1,768,323 - 1,768,323 1,705,742 - 1,705,742
sponsorship
3,129,064 - 3,129,064 2,222,608 - 2,222,608
----- End of picture text -----

5. INCOME FROM INVESTMENTS

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Bank Interest 992 - 992 133 - 133
992 - 992 133 - 133
----- End of picture text -----

SECTION SEVEN: 28 PARKRUN GLOBAL LIMITED FINANCIAL STATEMENTS ANNUAL REPORT 2021 - 22

29

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

6. OTHER INCOME

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Recovery of retail 73,555 - 73,555 - - -
commission
Fair value of net 1,386,832 - 1,386,832 - - -
assets received on the
acquisition of parkrun
Australia. (see note 14)
1,460,387 - 1,460,387 - - -
----- End of picture text -----

7. ANALYSIS OF EXPENDITURE

7a. (current year)

----- Start of picture text -----
Charitable activities
Raising funds Event related Governance costs Support costs 2022 Total 2021 Total
£ £ £ £ £ £
Staff costs (Note 9) 258,379 1,2 38,437 - 490,337 1,987,153 1,627,404
Retail and advertising 449,815 - - - 449,815 331,774
costs
Direct event costs - 632,465 - - 632,465 665,804
Event equipment - 114,206 - - 114,206 121,269
depreciation
Offi ce and admin 56,077 320,923 - 180,803 557,803 532,994
Consultancy and agency 186,847 185,404 - - 372,251 403,013
fees
Software and IT costs - 55,859 - 13,965 69,824 113,527
Travel and staff - 50,757 - 9,553 60,310 52,051
expenses
Legal and professional - 47,226 39,842 9,093 96,161 51,026
951,118 2,645,277 39,842 703,751 4,339,988 3,898,862
Support costs 84,450 619,301 - (703,751) - -
Governance costs 4,781 35,061 (39,842) - - -
Total expenditure 2022 1,040,349 3,299,639 - - 4,339,988
Total expenditure 2021 907,931 2,990,931 - - 3,898,862
----- End of picture text -----

----- Start of picture text -----
SECTION SEVEN:
FINANCIAL STATEMENTS
----- End of picture text -----

----- Start of picture text -----
30
----- End of picture text -----

7b. (prior year)

----- Start of picture text -----
Charitable activities
Raising funds Event related Governance costs Support costs 2021 Total
£ £ £ £ £
Staff costs (Note 9) 194,511 1,045,601 - 387,292 1,627,404
Retail and advertising costs 331,774 - - - 331,774
Direct event costs - 665,804 - - 665,804
Event equipment depreciation - 121,269 - - 121,269
Offi ce and admin 56,964 312,802 - 163,228 532,994
Consultancy and agency fees 251,084 151,929 - - 403,013
Software and IT costs - 90,822 - 22,705 113,527
Travel and staff expenses - 43,233 - 8,818 52,051
Legal and professional - 19,754 25,820 5,452 51,026
834,333 2,451,214 25,820 587,495 3,898,862
Support costs 70,499 516,996 - (587,495) -
Governance costs 3,098 22,722 (25,820) - -
Total expenditure 2021 907,931 2,990,931 - - 3,898,862
----- End of picture text -----

8. NET INCOME / (EXPENDITURE) FOR THE YEAR

This is stated after charging:

----- Start of picture text -----
2022 2021
£ £
Depreciation 124,883 132,159
Interest payable 1,653 1,566
Operating lease rentals:
Property 84,702 89,743
Auditor's remuneration (excluding VAT):
Audit of Charity 3,400 2,260
Audit of subsidiary companies 19,200 15,300
Foreign exchange gains or losses 990 643
----- End of picture text -----

9. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL

----- Start of picture text -----
2022 2021
£ £
Salaries and wages 1,684,998 1,374,259
Social security costs 145,723 135,273
Employer’s contribution to defi ned contribution pension 149,965 111,231
schemes
Other forms of employee benefi ts 6,467 6,641
1,987,153 1,627,404
----- End of picture text -----

31

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

SECTION SEVEN: FINANCIAL STATEMENTS

employer’s national insurance) during the year between:

----- Start of picture text -----
2022 2021
No. No.
£60,000 – £69,999 3 3
£70,000 – £79,999 1 1
£90,000 – £99,999 1 1
£100,000 – £109,999 1 1
£150,000 – £159,999 1 1
----- End of picture text -----

The only employee to fall into of the key management personnel the £150,000-£159,000 category, were £621,655 (2021: £559,897). was the former CEO Nick Pearson.

payment for professional or other services supplied to the charity (2021: £nil).

The charity trustees were neither paid nor received any No trustees expenses were other benefi ts from employment paid in the year ended 31 January with the charity in the year (2021: 2022. (2021 : £nil). £nil). No charity trustees received

(including pension contributions and employer’s national insurance)

10. STAFF NUMBERS

(2021: 27).

11. RELATED PARTY TRANSACTIONS

Paul Sinton-Hewitt the founder Hewitt also received payments Support Manager and receives of parkrun and Trustee (resigned totalling £11,668 in the year a commercial salary of £37,429 as Trustee on 28 June 2022) of from a consultancy agreement for the role (2021: £36,701). parkrun Global was paid £77,654 with a supplier to PSH Limited (2021: £77,654) as an employee (2021: £20,180). The consultancy There are no donations from for his daily work in promoting agreement which was approved related parties which are parkrun within the UK and Globally prior to PSH Retail Ltd becoming outside the normal course of and performing ad hoc services to a subsidiary and continued to be business and no restricted sponsors, grant providers, and the approved thereafter by the board donations from related parties. wider community as and when of Trustees ceased in June 2022. required. Payments to the founder as an employee are allowed under Jo Sinton-Hewitt the wife of Paul the provisions of the articles Sinton Hewitt is employed by of association. Paul Sinton-

Jo Sinton-Hewitt the wife of Paul Sinton Hewitt is employed by parkun Limited in the role of Event

12. TAXATION

The charity is exempt from charitable purposes. The charity’s and PSH Retail Limited distribute corporation tax as all its income trading subsidiaries parkrun under Gift Aid available profi ts to is charitable and is applied for Limited, parkrun Trading Limited the parent charity.

13. TANGIBLE FIXED ASSETS

----- Start of picture text -----
The group Fixtures and fi ttings Computer equipment Plant and machinery Total
Cost £ £ £ £
At the start of the year 19,712 47,060 1,244,414 1,311,186
Additions in year - 10,445 363,773 374,218
Disposals in year - - (651,434) (651,434)
At the end of the year 19,712 57,505 956,753 1,033,970
Depreciation
At the start of the year 14,442 38,862 987,586 1,040,890
Charge for the year 2,115 8,562 114,206 124,883
Eliminated on disposal - - (651,434) (651,434)
At the end of the year 16,557 47,424 450,358 514,339
Net book value at the end of the year 3,155 10,081 506,395 519,631
At the start of the year 5,270 8,198 256,828 270,296
----- End of picture text -----

All of the above assets are used for charitable purposes.

14. INVESTMENT IN SUBSIDIARY UNDERTAKINGS

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

----- Start of picture text -----
2022 2021
£ £
Cost b/fwd and c/fwd 1,000 1,000
----- End of picture text -----

address is Frameworks, 2 Sheen Road, Richmond, TW9 1AE.

The investment above relates Included within turnover to the charity’s 100% share holding below is a management charge of in parkrun Trading Limited, £1,383,333 (2021: £1,620,000) to other subsidiaries do not have parkrun trading Ltd for the supply share capital but are limited by of staff and support services. guarantee and an overview of their results and reserves is shown below.

The subsidiary is used for nonprimary purpose trading activities.

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

All activities have been consolidated on a line by line basis in the statement of fi nancial activities. Available profi ts are distrbuted under Gift Aid to the parent charity from the UK subsidiaries.

Included within Administrative expenses below is a management charge of £1,383,333 (2021: £1,620,000) from parkrun Ltd who supplies staff and support services to parkrun Trading Limited.

parkrun Limited

PSH Retail Ltd

The charity is the sole member of parkrun Limited, a company registered in England. The company number is 07289574. The registered offi ce address is Frameworks, 2 Sheen Road, Richmond, TW9 1AE.

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 offi ce address is Frameworks, 2 Sheen Road, Richmond, TW9 1AE.

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

32

33

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22 ANNUAL REPORT 2021 - 22

SECTION SEVEN: FINANCIAL STATEMENTS

parkrun Canada

parkrun Canada is a not-forprofi t corporation incorporated under the Canada Corporations Act and is designated as a nonprofi t organisation under the Income Tax Act (Canada) and is exempt from income taxes under paragraph 149 (1) (I).

The directors do not consider the transactions within parkrun Canada to be signifi cant enough to warrant consolidation within the Group accounts.

The Trustee (resigned 28/06/22) Barkly Road, Parktown, 2193. P Sinton-Hewitt is also a director of the subsidiary.

A summary of the results of the subsidiaries is shown below: Amounts owed to/from the parent undertaking are shown in notes 17 and 18.

parkrun Australia Ltd

PSH Retail Ltd incorporates the trading activities relating to the Contra brand of sports clothing.

14a. Results of the subsidiaries: Current year

trading activities relating to the The charity became the sole Contra brand of sports clothing. member of parkrun Australia Ltd on the 16th July 2021, a parkrun South Africa NPC company registered in Australia. The company number is 605 The charity is the sole 539 213. The registered offi ce member of parkrun South Africa address is 6 Unit 10 82-86 NPC, a company registered Minnie Street Southport QLD in South Africa. The company 4215. No consideration was paid The subsidiary is used for nonnumber is 2011/132302/08. The in respect of the acquisition. primary purpose trading activities. registered offi ce address is 6

----- Start of picture text -----
parkrun Limited parkrun Trading Ltd PSH Retail Ltd parkrun South Africa NPC parkrun Australia Ltd.7 months
2022 2022 2022 2022 2022
£ £ £ £ £
Turnover 1,762,396 2,064,358 338,887 160,462 457,091
Turnover from sales to 1,383,333 - - - -
subsidiary
Turnover from sales to Charity 100,000 - - - -
Cost of sales - - (400,088) - -
Management charge payable to - (1,383,333) - - -
subsidiary
Gross profi t 3,245,729 681,025 (61,201) 160,462 457,091
Administrative expenses (2,784,588) (428,798) (2,400) (158,414) (471,191)
Management charge payable - - - - (3,281)
to parent undertaking
Profi t on ordinary activities 461,141 252,227 (63,601) 2,048 (17,381)
before interest and taxation
Interest receivable and - - 73,555 - 992
similar income
Interest payable - (1,312) (25) - -
Profi t on ordinary activities 461,141 250,915 9,929 2,048 (16,389)
before taxation
- - - - -
Taxation on profi t on
ordinary activities
Profi t for the fi nancial year 461,141 250,915 9,929 2,048 (16,389)
Retained earnings
Total retained earnings 168,233 93,242 73,795 14,405 1,386,832
brought forward
Profi t for the fi nancial year 461,141 250,915 9,929 2,048 (16,389)
Distribution under Gift Aid to (17,500) (103,000) (73,795) - -
parent charity
Total retained earnings 611,874 241,157 9,929 16,453 1,370,443
carried forward
The aggregate of the assets,
liabilities and reserves was:
Assets 1,475,964 1,383,646 868,393 22,316 1,574,026
Liabilities (864,090) (1,141,489) (858,463) (5,863) (203,583)
Reserves 611,874 242,157 9,930 16,453 1,370,443
----- End of picture text -----

Acquisition of parkrun Australia

----- Start of picture text -----
Book values Fair value adjustments Fair values at acquisition
£ £ £
Fixed assets 271,692 - 271,692
Net current assets 1,115,140 - 1,115,140
Net assets acquired 1,386,832 - 1,386,832
Costs of acquisition - - -
Net assets acquired 1,386,832 - 1,386,832
----- End of picture text -----

parkrun U.S.

the United States of America.

parkrun U.S. is registered as a transferred to parkrun Ltd during Non-profi t Company and parkrun 2021. The directors do not consider Global Limited is the sole member. the transactions within parkrun USA to be signifi cant enough to parkrun U.S. ceased to warrant consolidation within the operate in its current form and Group accounts.

Nature of business : to provide parkrun events in the USA. parkrun U.S. ceased to operate in its current form and accumulated reserves were

----- Start of picture text -----
35 SECTION SEVEN:
FINANCIAL STATEMENTS
----- End of picture text -----

----- Start of picture text -----
2022 2021
Retained earnings £ £
Total retained earnings brought forward - 16,115
(Loss)/Profi t for the fi nancial year -
Funds transferred to parkrun Ltd. (16,115)
Total retained earnings carried forward - -
----- End of picture text -----

The company had no assets or liabilities at the end of 2021 or 2022.

34

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

14b. Results of the subsidiaries: Prior year

----- Start of picture text -----
parkrun Limited parkrun Trading Ltd PSH Retail Ltd parkrun South Africa NPC
2021 2021 2021 2021
£ £ £ £
Turnover 1,161,546 2,675,164 358,745 164,328
Turnover from sales to 1,620,000 - - -
subsidiary
Cost of sales - - (262,938) -
Management charge payable to - (1,620,000) - -
subsidiary
Gross profi t 2,781,546 1,055,164 95,807 164,328
Administrative expenses (2,820,369) (952,159) (2,000) (160,801)
Management charge payable to - - (20,000) -
parent undertaking
Profi t on ordinary activities (38,823) 103,005 73,807 3,527
before interest and taxation
Interest receivable and similar 41 82 - -
income
Interest payable - (1,377) (12) -
Profi t on ordinary activities (38,782) 101,710 73,795 3,527
before taxation
- - - -
Taxation on profi t on ordinary
activities
Profi t for the fi nancial year (38,782) 101,710 73,795 3,527
Retained earnings
Total retained earnings brought 416,015 83,532 - 10,878
forward
Profi t for the fi nancial year (38,782) 101,710 73,795 3,527
Distribution under Gift Aid to (209,000) (92,000) - -
parent charity
Total retained earnings 168,233 93,242 73,795 14,405
carried forward
The aggregate of the assets,
liabilities and reserves was:
Assets 1,202,677 1,424,856 780,557 16,686
Liabilities (1,034,444) (1,330,614) (706,761) (2,281)
Reserves 168,233 94,242 73,796 14,405
----- End of picture text -----

15. PARENT CHARITY

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

----- Start of picture text -----
2022 2021
£ £
Gross income 660,975 741,723
Result for the year 309,120 397,858
----- End of picture text -----

17. DEBTORS

----- Start of picture text -----
The group The charity
2022 2021 2022 2021
£ £ £ £
Trade debtors 512,933 619,981 - -
Other debtors 20,306 20,133 - 23,007
Amounts due from group - - 730,439 492,540
undertakings
VAT - - 2,235 -
Prepayments 87,723 151,285 43,677 34,039
Accrued income 275,961 1,364,670 131,300 79,760
896,923 2,156,069 907,651 629,346
----- End of picture text -----

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
The group The charity
2022 2021 2022 2021
£ £ £ £
Bank Loan 11,259 50,000 - -
Trade creditors 282,583 476,019 14,318 90,837
Taxation and social security 92,059 56,975 - -
Other creditors 1,923 16,095 - -
Accruals 135,037 40,792 9,831 4,100
Deferred income (note 20) 468,716 822,029 - -
991,577 1,461,910 24,149 94,937
----- End of picture text -----

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

16. STOCK

----- Start of picture text -----
The group The charity
2022 2021 2022 2021
£ £ £ £
Finished goods 1,192,260 729,104 - -
1,192,260 729,104 - -
----- End of picture text -----

----- Start of picture text -----
SECTION SEVEN: 36
FINANCIAL STATEMENTS
----- End of picture text -----

----- Start of picture text -----
The group The charity
2022 2021 2022 2021
£ £ £ £
Bank Loan 35,000 - - -
35,000 - - -
----- End of picture text -----

parkrun received a £50,000 unsecured Bounce Back loan guaranteed by the Government and this is being repaid by monthly instalments. £35,000 of this loan is repayable after more than one year and the balance of £11,259 is included within Creditors: amounts falling due within one year (note 18). Interest on the loan is being paid at the rate of 2.5% per annum.

37

SECTION SEVEN: FINANCIAL STATEMENTS

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22

20. 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.

----- Start of picture text -----
The group The charity
2022 2021 2022 2021
£ £ £ £
Balance at the beginning of 822,029 603,333 - -
the year
Amount released to income in (822,029) (603,333) - -
the year
Amount deferred in the year 468,716 822,029 - -
Balance at the end of the year 468,716 822,029 - -
----- End of picture text -----

21. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

21a. (current year)

----- Start of picture text -----
General unrestricted Restricted funds Total funds
£ £
Tangible fi xed assets 519,631 - 519,631
Net current assets 2,508,041 382,545 2,890,586
Long term liabilities (35,000) - (35,000)
Net assets at 31 January 2022 2,992,672 382,545 3,375,217
----- End of picture text -----

21b. (prior year)

----- Start of picture text -----
General unrestricted Restricted funds Total funds
£ £
Tangible fi xed assets 270,296 - 270,296
Net current assets 276,836 1,577,117 1,853,953
Net assets at 31 January 2021 547,132 1,577,117 2,124,249
----- End of picture text -----

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

22b. (prior year)

----- Start of picture text -----
At 1 February 2020 Income & gains Expenditure & losses Transfers At 31 January 2021
£ £ £ £
Restricted funds:
Sport England 1,007,139 1,200,000 (1,007,139) - 1,200,000
parkrun Events 361,455 56,077 (40,415) - 377,117
Total restricted funds 1,368,594 1,256,077 (1,047,554) - 1,577,117
Unrestricted funds:
General funds 393,547 3,004,893 (2,851,308) - 547,132
Total unrestricted funds 393,547 3,004,893 (2,851,308) - 547,132
Total funds 1,762,141 4,260,970 (3,898,862) - 2,124,249
----- End of picture text -----

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.

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

22. MOVEMENTS IN FUNDS

22a. (current year)

----- Start of picture text -----
At 1 February 2021 Income & gains Expenditure & losses Transfers At 31 January 2022
£ £ £ £
Restricted funds:
Sport England 1,200,000 - (1,200,000) - -
parkrun Events 377,117 116,037 (110,609) - 382,545
Total restricted funds 1,577,117 116,037 (1,310,609) - 382,545
Unrestricted funds:
General funds 547,132 5,474,919 (3,029,379) - 2,992,672
Total unrestricted funds 547,132 5,474,919 (3,029,379) - 2,992,672
Total funds 2,124,249 5,590,956 (4,339,988) - 3,375,217
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SECTION SEVEN:
FINANCIAL STATEMENTS
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23. 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:

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Property
2022 2021
£ £
Less than one year 75,252 80,187
One to fi ve years 94,076 10,560
169,328 90,747
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The charity has no future lease payments under non-cancellable operating leases.

24. 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 39 ANNUAL REPORT 2021 - 22

SECTION SEVEN: FINANCIAL STATEMENTS

SECTION EIGHT: REFERENCE AND ADMINISTRATIVE INFORMATION

PAR KRUN GLOBAL LIMITED REFE RENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 JANUARY 2022

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:

Chair

Gavin Megaw

Paul Sinton-Hewitt, (Resigned CBE 28/06/22)

Committee membership

Nominations Committee

Gavin Megaw (Chair), Jeremy Townsend, Christine Gibbons

Remuneration Committee

Gavin Megaw (Chair), Jeremy Townsend, Christine Gibbons

Finance and Audit Committee

Jeremy Townsend (Chair), Jonathan Cooke, Russell Jeff erys

Governance and Risk Committee

Christine Gibbons (Chair), Russell Jeff erys, Paul Sinton-Hewitt

Christine Gibbons

Jeremy Townsend

Katee Hui (Resigned 28/06/21)

Safeguarding Committee Gavin Megaw (Chair), Clare Fowler, Tom Williams

CEO Nick Pearson (Resigned 31/01/22) CEO Russell Jeff erys (Appointed 31/01/22)

REGISTERED OFFICE AND OPERATIONAL ADDRESS

Frameworks 2 Sheen Road Richmond TW9 1AE

Bankers

Santander 2 Triton Square Regent’s Place London NW1 3AN

Company 09411750 number

Country of United Solicitors incorporation Kingdom Charity number 1175062

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

Country of England & registration Wales

40

SECTION EIGHT: REFERENCE AND ADMINISTRATIVE INFORMATION

PARKRUN GLOBAL LIMITED ANNUAL REPORT 2021 - 22