**Charity registration number 1190045** # **PARENTS AND CARERS IN PERFORMING ARTS (PIPA) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2022** ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** V Bain F Bonelli I Vidyalankara K Doubleday D Buckroyd N Williams S Jackson OBE C Oak (Appointed 5 July 2021) J Preston (Appointed 5 July 2021) S Mustafa (Appointed 5 July 2021) L Harvey (Appointed 5 July 2021) D Sawyerr (Appointed 5 July 2021) S Sirr (Resigned 2nd February 2022) **Charity number** 1190045 **Principal address To mid-May** 109A High Street London SE20 7DT **From mid-May** c/o Crucible Theatre 55 Norfolk Street Sheffield S1 1DA **Independent examiner** Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ **Joint Chief Executives** Cassie Raine Anna Ehnold-Danailov ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **CHAIR'S STATEMENT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 2021-22 has been an important year for PiPA as well as the wider sector as we begin the slow journey back to recovery from Covid-19. A key focus for PiPA throughout 21-22 has been about providing consistent data, insight and resources to equip the sector and workforce with the tools needed to continue to build the foundations for the future we want to see for the performing arts. More than ever, family friendly working practises and policies are vital for a robust and resilient sector with inclusion at the heart of it and we have been fortified by the ongoing commitment of PiPA Charter Partner’s whose work on the PiPA Charter Programme can be felt rippling across the creative landscape. 2021-22 has seen an exciting increase in the number of job shares being offered across our partner organisations. Notable examples include actors Gina Beck and Alex Young sharing the lead role of Nellie Forbush in Chichester Festival Theatre's production of South Pacific, widescale inclusion of caring responsibilities in monitoring data, flexible working embedded across organisations of all sizes and remits and the adoption of family friendly working policies across the majority of PiPA’s partner organisations. Internally, we have invested significantly in the development of our staff and Trustees with training, mentoring and career development. We identified that ensuring the Board of Trustees represents a broad range of lived and professional experiences must be a priority for PiPA. In June 2021 we welcomed five new Trustees to the Board: Laura Harvey Head of Creative Programmes, English National Ballet & Freelance Dance Artist; Shazia Mustafa Founder of Third Door, Director Activate Collective; Constance Oak, Freelance Stage Manager and Facilitator; James Preston, Interim General Manager, Lyra and Deborah Sawyerr, Deputy Executive Director at the Mercury Theatre, Talent Planning and Resourcing Consultant. We were very sorry to say farewell to Stephanie Sirr, CEO of Nottingham Playhouse and President of UK Theatre, who stepped down from the Board in February 2022 after five years of invaluable support for our work. All Trustees have been a huge support, with Trustees and staff working side by side to develop a framework for a strong and sustainable PiPA capable of supporting the wider sector in the face of ever changing social, economic, and environmental challenges and setting the blueprint for the next five years of the Charity as we look to achieve our ambitions for scale. None of this would be possible without the generous support of PiPA’s funders. PiPA is extremely grateful to the Actors' Children's Trust (ACT) for their ongoing and vital support, and their extremely generous grant of £50,000 towards PiPA's next year of development, the Esmée Fairbairn Foundation for their ongoing support, Creative Scotland for supporting PiPA to bring our offer to Scotland’s performing arts sector, Musicians’ Union, Help Musicians and Dance Professionals Fund all of whom have supported PiPA’s ongoing research projects. Thank you to Arts Council England. The vital funding PiPA has received as part of our Elevate grant has enabled us to build our infrastructure as we prepare to scale our work in order to increase reach and impact. Thanks to our core funders, PiPA’s capacity has grown substantially over the last year. With our growing membership of Charter Partners across Music, Dance and Theatre and a dedicated Board of Trustees, dedicated and growing staff team, we are well placed to transform insights into action and respond to future opportunities. ## PiPA Chair .............................. Chair Dated: ......................... 1 6 t h M a y 2 0 2 2 - 1 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ The Trustees present their report and financial statements for the period ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution , the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". ## **Objectives and activities** PiPA is set up under its Constitution as a Charitable Incorporated Organisation. The Objects of the CIO are: To promote equality, diversity and inclusion for the public benefit by reducing, preventing and discouraging discrimination and the resulting barriers in both the workforce (in particular but not exclusively within the performing arts industry) and wider society; including by: Promoting and advancing better working practices, and Providing information, advice, guidance and counselling for people in work or seeking work (particularly but not exclusively in the performing arts) including about their rights and entitlements and the provision of care for dependents (including those with disabilities); and Promoting and carrying out research for the public benefit and publishing or otherwise disseminating the useful results of such research. ## **Public Benefit** The trustees confirm that they have referred to the Charity Commission’s general guidance on Public Benefit when reviewing and shaping the charity’s aims and objectives for the year and planning future activities. The charity works to ensure that its programmes are inclusive, accessible and responsive to the needs of its beneficiaries. Our work is organised into two key work areas in order to achieve our vision and objects. These are: ## **Research and policy:** This includes research carried out into the disadvantages faced by those in the performing arts who have caring responsibilities. Influencing policy at a sectoral and Government level is a key focus for PiPA as we seek to embed change across the creative landscape. Everything we do at PiPA is a direct response to need, underpinned with a programme of rigorous research. Our grassroots understanding of the needs of parents and carers - combined with our strategic work with unions, employers' bodies, membership organisations and funders - as well as direct service provision to performing arts organisations, provides crucial insight across the cultural landscape, driving our core research agenda. We are then able to directly influence union/employer agreements, monitoring and evaluation criteria and best practice. Advocacy and public policy is becoming an increasing focus for the charity and PiPA's reports have been cited in parliament and our research often quoted in other national campaigns. ## **Services and Best Practice:** This includes working with employers to assist them in introducing a framework that provides the organisation with the tools, resources and policies to implement family-friendly working practices. - 2 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ We work in partnership with industry bodies and partners to provide freely available resources including tools and training for the performing arts sector to support organisations to become more family friendly employers. The PiPA Best Practice Charter programme is a monitoring and evaluation framework designed to support employers working towards the PiPA Best Practice Charter. This deep dive programme of paid-for consultancy is divided into three areas of focus: policies, working practices and resources. We have launched a Charter Foundations Programme w hich enables us to reach and support smaller and less well funded organisations. Through our programmes we can monitor, analyse and influence change across the performing arts as we support employers and industry bodies to implement targeted, practical solutions and strategies. Through our partner organisations, and increasingly independently, PiPA provides tools, resources, coffee mornings and networking opportunities free of charge for parents and carers. Our research has highlighted gaps in career development opportunities and provision for mid-career performing arts workers who have needed to take time out for family and caring commitments. Our work in Scotland, funded by the Scottish Government's Workplace Equality Fund, developed from PiPA's experience of direct service provision for individuals focussed on coaching and peer-to-peer learning opportunities. PiPA is increasingly becoming the go-to organisation for individuals looking for resources and signposting. ## **Achievements and Performance** ## **Research and policy** Parents and Carers in Performing Arts’ research is highly regarded and helps us to retain our reputation as thought leaders in inclusion and diversity in the sector. In the twelve months we undertook three key pieces of research: Remote Working, Classical Music, Dance. Remote Working: A PiPA survey conducted in May 2021 identified significant appetite and opportunity among theatre sector workers for embedding remote working and a more robust and flexible infrastructure into daily working practices. Published in July 2021, in collaboration with SOLT and UK Theatre, PiPA designed a practical toolkit to support managers to assess the potential opportunities and challenges for organisations looking to implement various types of remote working strategies. We held a webinar where we shared our research findings on remote working in the performing arts industry, and featured Charter Partner’s Best Practice examples on remote working practices, including Royal Shakespeare Company, Mercury Theatre, and flexible working expert (and PiPA Chair) Sarah Jackson. In conjunction we published our free Remote Working Toolkit, comprising of remote working analysis tool, how-to-guide, policy template and FAQs. Remote Working Toolkit & Webinar Parents & Carers in Performing Arts (pipacampaign.org) Music: Classical musicians have been disproportionally affected by Covid-19, due to the almost complete shutdown of the sector and scarce opportunity or support for freelancers. The 2018 Balancing Act Survey also highlighted that there are certain dilemmas even more pertinent to musicians as compared to the other performing arts. In particular we identified a higher proportion of parents and carers (76%) in Music than in the performing arts as a whole (56%) but a significantly lower percentage of primary carers (defined as the parent doing 75% or more of the childcare) represented in orchestras: 20% as opposed to 42% of people with primary caring responsibilities in the Music sector more broadly. We need to better understand the lived experience of musicians in Classical Music and Opera and investigate the impact of caring responsibilities on career progression. The PiPA Classical Music research project which had been delayed due to Covid-19, funded by Help Musicians and Musicians’ Union began in June 2021 through a series of focus groups with over 21 Musicians, Composers, Conductors and Opera Singers the findings of which informed a survey to further explore some of the key themes for example: What are the specific challenges experienced by those with caring responsibilities? What are the career outcomes in terms of earnings? Are earnings enough to cover typical and unforeseen outgoings particularly for carers? - 3 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ We created a bespoke survey which aligned to the approach of PiPA’s 2018 benchmark survey Balancing Act, and some more specific questions about experience of working life in classical music to which we had 410 responses. The findings will be published later in 2022. **Dance:** In line with PiPA’s strategic objective to expand our Charter Programme offer to include Dance, in October 2022 we launched our programme of research in dance, focussing on the barriers experience of parents and carers in both classical dance (ballet), and contemporary dance sector, to identify the specific challenges and barriers experienced by dance professionals with caring responsibilities, or being pregnant. The Ballet research is being conducted in collaboration with Almuth McDowall, Professor of Organisational Psychology at Birkbeck University of London and the Contemporary Dance research, funded by Dance Professionals Fund, is led by Dr Angela Pickard, Professor of Dance Education & Director of Centre for Practice Based Research, Canterbury Christ Church University. A series of focus groups and interviews with 40 dance professionals from a wide range of backgrounds and circumstances have been conducted and researchers are currently working with Choreographers and Artistic directors to understand their challenges, as well as identify existing good practice, laying the foundations for a dance specific Charter Programme. ## **Services and Best Practice:** Charter Programme: We are delighted that over 95% of PiPA’s Charter Partners have continued their participation in the PiPA Charter Programme this year with the over 11 new organisations joining the Programme, including Graeae Theatre Company, and Leeds Heritage Theatres. We have now fully integrated monthly learning seminars into the Charter Programme, featuring innovative family friendly working practices embedded by Charter Partners. These network events enable cross organisational learning and network support as organisations can ask about the nuts and bolts of a particular intervention, discuss challenges and investigate how it would be adoptable to their working model. Since April 2021 PiPA has hosted 14 seminars, covering topics including: On Stage and Off Stage Job Shares, Children in the Workplace Polices, Supporting P&Cs with Disabilities, Family Friendly Welcome Packs, and Inclusive Recruitment, highlighting work from across our Charter Programme including New Adventures, Mercury Theatre, National Theatre, Chichester Festival Theatre, RSC, Middle Child Theatre, English National Ballet, English National Theatre and Birds of Paradise. 17 new resources have been created including: Job Share - Resident Director; Job Share – Dancer; Returning Parents and Carers to Work; Accessible Professional Development Programmes for Parents and Carers; Children in the Workplace Policy; Updated Shared Parental Leave (Adoption & Birth) Policy; Time Off For Dependents Policy; Inclusive Recruitment Checklist ## **PiPA Foundations** Launched in February 2022, _**PiPA Foundations**_ is an entry-level programme designed to support organisations of all sizes, remits and resources to develop more inclusive workplaces. We have previously identified that lack of resource or capacity is a barrier to participation in the full Charter Programme for some organisations. This lean impact programme is designed to increase access to our work for smaller and diverse led organisations, and build a pipeline for organisations to progress to the PiPA Charter Programme. Five modules address monitoring, family friendly policies, flexible working, inclusive recruitment and effective communication, with a baseline and endline survey to assess progress. It is currently being trialled as part of a Creative Scotland funded piece of work, with 18 organisations in Scotland including Federation of Scottish Theatre, Eden Court, All or Nothing Aerial Dance Theatre and The Touring Network. Return and Retain: PiPA’s December 2021 action research project ‘Return and Retain’ with a cohort of parent and carer freelancers that span the breadth of the performing arts industry, including a dance, music, theatre and even puppetry! Funded by Arts Council England, this project aims to support parents and carers who are further marginalised due to their ethnicity, cultural heritage, disability, neurodivergence, sexual orientation, gender identity or socio-economic background. Alongside supporting their individual professional development, these freelancers are helping PiPA to develop a toolkit that organisations can use to better support parents and carers that face additional barriers to employment. - 4 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Financial review** ## **Finance and Fundraising** The 2021/2 year was PiPA's first full year as a CIO, and the comparative period had activity for six months only. During the current year PiPA received £276,989 of income, of which £134,510 was restricted for specific purposes by the donors. Expenditure totalled £204,884 resulting in net income for the period of £72,105. The positive result for the year leaves Charity with £107,035 of reserves at the year end, of which £51,182 are restricted, £9,804 are designated and £46,049 are general unrestricted. Of the £46,049 general unrestricted funds, £5,682 are invested in PiPA's fixed assets and not available for general spending, leaving £40,347 of free reserves. ## **Reserves** It is Parents and Carers in Performing Arts policy to maintain free reserves (unrestricted reserves not invested in fixed assets or designated for specific purposes.) Trustees review the reserves policy annually and PiPA reserves are calculated on the following basis: - four weeks of salary costs to provide a breathing space buffer so that the board and executive can make informed decisions on the future of the organisation - liability for staff notice periods (variable length depending on contract) and for redundancy costs (variable depending on term of service) - one quarter of annual administrative overhead costs to be spent during a wind-down scenario At the current year's level of spending, the total cost of the calculation is: £52,800 which is more than the £40,347 held as free reserves however, as a relatively young organisation, this is understandable. Reserves have been built year on year with a clear plan in place to continue building reserves through operating surplus each year in line with the growth of PiPA. The Trustees review the level of designated funds on an annual basis in line with the charity's needs and plans. ## **Risk** The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. In addition to an annual review of the charity’s full risk register, Trustees receive and discuss a quarterly risk report which focuses on the major risk areas faced by the charity. In 2022/23 these are: ## **IMPACT** Impact for PiPA means change as a direct result of our activities within specific organisations as well as across industry sectors and across the performing arts as a whole. This means being able to demonstrate a direct or indirect link between a PiPA intervention and an outcome, as well as being cited or referenced by policy makers, organisations and individuals in the media. ## **REPUTATION** PiPA has a good reputation among peers and industry. A key challenge for PiPA is striking the balance between parents and carers and employers, and equally between employers' bodies and Unions. PiPA is one of the few organisations that invites these organisations to sit round the same table and work towards a shared goal. The ability of PiPA to take the temperature across the sector is crucial and we need to be able to show that we are aware of the wider environment that we are operating in. - 5 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **COMPLIANCE** Our key regulators are: Health and Safety Executive, HM Customs and Excise, Information Commissioners Office, Charity Commission ## **FINANCIAL** Financial risks include: - Paying below market rate for roles, impact on recruitment and retention - Reserves falling below agreed minimum - Charter partner income targets/ development - Expansion into new sectors - Fundraising - Business plan (striking a balance between ambition and overstretched ## **PIPA-specific** - growing too fast/ not fast enough - staff wellbeing - people management skills and capacity ## **Structure, governance and management** The charity is constituted as a CIO - a charitable incorporated organisation, and is governed by a constitution dated 22 June 2020. Although the charity was registered on 22 June 2020, activities only commenced from 1st October 2020, when they were transferred from Parents in Performing Arts, a company limited by guarantee. ## **Trustees** A complete list of trustees who held office from formation to the date of approval of the accounts is disclosed in the legal and administrative information at the front of the annual report. Inclusion and diversity are core to PiPA. To best deliver our charitable objectives we must operate by the values we promote. PiPA will be an open door to all parents and carers in the industry, enabling true inclusion of all backgrounds and perspectives in our work and how it develops. And we shall also create change across the full diversity of all performing art forms - theatre, opera, orchestra, live music, dance - by engaging with the people who create and work in them. It is a continuing work in progress, and an active item at our quarterly Board meetings. Each area of PiPA’s work is both informed by and delivered against it. The joint CEOs and Board members share responsibility for identifying and agreeing measurable criteria against which we can assess our progress. In addition, we review the strategy in full and formally every two years, to check that it continues to tie back to and strengthen our current strategy and business plan, and that it continues to reflect and develop best practice. - 6 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ What this commitment to diversity means for PiPA: - We work together to amplify the voices of parents and carers - We commit to reaching, hearing and understanding the full diversity of parents and carers, including those who might experience disadvantage because of their age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage or civil partnership, pregnancy or maternity, or socioeconomic disadvantage. - We encourage a new mindset, that parents and carers enrich the performing arts - We commit to ensuring that the examples, case studies and illustrations we use reflect and promote the diversity of parents and carers working in the performing arts - We show what’s possible - We commit to authentically doing ourselves what we ask others to do, in our employment practice, recruitment, governance and conduct as an organisation. - We respect and value what everyone brings to PiPA - We commit to creating an environment where everyone feels that they have a voice, whether staff, trustees, ambassadors, service users, industry partners, funders or donors of time or money. It is a continuing work in progress, and an active item at our quarterly Board meetings. Each area of PiPA’s work is both informed by and delivered against it. The joint CEOs and Board members share responsibility for identifying and agreeing measurable criteria against which we can assess our progress. In addition, we review the strategy in full and formally every two years, to check that it continues to tie back to and strengthen our current strategy and business plan, and that it continues to reflect and develop best practice. ## **Recruitment and appointment of new trustees** Trustee recruitment is based on an annual assessment, led by the chair, to identify gaps in representation, both in terms of professional and lived experience, to ensure the PiPA Board has the requisite skills to enable PiPA to deliver its objectives and is representative of the communities we serve, as identified by our Inclusion and Diversity strategy. Candidates are required to complete a formal application process by submitting either a written, video or voice application. All applicants are scored against the recruitment criteria using a standard PiPA recruitment matrix. If successful at application stage, prospective candidates attend an interview, in person or online depending on the individual's circumstances. Interviews are carried out by the Chair, at least two other trustees and one or both of the Co- Chief Executive Officers. The panel prepares a shortlist and conducts a second interview, if necessary. Induction for new trustees includes a one-to-one meeting with the Chair, and being "buddied" with an existing board member. ## **Remuneration** When setting remuneration for its staff, PiPA takes account of market rates and other relevant data relating to charities of a similar size, operational activity and work place location. The remuneration of the Senior Management is the responsibility of the Trustees and is set in the light of the skills and competencies required for particular roles and within the constraints of affordability. The Trustees' r eport was approved by the Board of Trustees. .............................. Type text here Trustee Dated: ......................... 1 6 t h M a y 2 0 2 2 - 7 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 8 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** I report to the Trustees on my examination of the financial statements of Parents and Carers in Performing Arts (PiPA) (the charity) for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the f inancial statements to be reached. Katherine Dee (FCA) Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ Dated: 16/05/2022 - 9 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |||**Unrestricted**|**Restricted**|**Full Year**|Unrestricted|Restricted|6 Months| |---|---|---|---|---|---|---|---| |||**funds**|**funds**|**Total**|funds|funds|Total| |||**2022**|**2022**|**2022**|2021|2021|2021| ||**Notes**|
**£**|**£**|**£**|**£**|**£**|**£**| |Income from:|||||||| |Donations and grant|||||||| |income|**3**|93,130|134,510|227,640|37,558|761|38,319| |Charitable activities|**4**|45,349|-|45,349|5,584|-|5,584| |Income received on|||||||| |formation|**5**|-|-|-|37,150|19,705|56,855| |Other income|**6**|4,000|-|4,000|4,000|-|4,000| |**Total income**||142,479|134,510|276,989|84,292|20,466|104,758| |Expenditure on:|||||||| |Raising funds|**7**|9,820|-|9,820|5,253|-|5,253| |Charitable activities|**8**|111,736|83,328|195,064|44,895|19,705|64,600| |**Total resources**|||||||| |**expended**||121,556|83,328|204,884|50,148|19,705|69,853| |**Net incoming**|||||||| |**resources before**|||||||| |**transfers**||20,923|51,182|72,105|34,144|761|34,905| |Gross transfers|||||||| |between funds||-|-|-|761|(761)|-| |**Net income for the period/**|||||||| |**Net incoming resources**||20,923|51,182|72,105|34,905|-|34,905| |_Extraordinary item_|||||||| |_memo - included in_|||||||| |_income - see note 21_||_-_|_-_|_-_|37,150|19,705|56,855| |**Net movement in funds**||20,923|51,182|72,105|34,905|-|34,905| |Fund balances at 1|||||||| |April 2021||34,930|-|34,930|-|-|-| |**Fund balances at 31**|||||||| |**March 2022**||55,853|51,182|107,035|34,905|-|34,905| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 10 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2022**_ |**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**18**
Unrestricted funds
Designated funds
**19**
General unrestricted funds|**2022**
**£**
7,820
115,185
123,005
(21,652)
9,804
46,049|**£**
5,682
101,353
107,035
51,182
55,853
107,035|**2021**
**£**
8,013
38,418
46,431
(15,007)
16,474
18,431|**£**
3,481
31,424
34,905
-
34,905
34,905| |---|---|---|---|---| The financial statements were approved by the Trustees on ......................... 1 6 t h M a y 2 0 2 2 .............................. **Trustee** - 11 - **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** PiPA was granted charitable status as a Charitable Incorporated Organisation (CIO) on 22 June 2020. Its first trustees were appointed on 12 August 2020. It received the assets and liabilities of Parents in Performing Arts, a company Limited by guarantee, company number 10949206 on 30 th Sept 2020, and took over its activities. The charity began to operate on 1st October 2020 and as such the comparative period represents six months activity only. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's constitution the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Designated funds are unrestricted funds which have been set aside by the Trustees for a specific purpose. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Strategic Partnership income is in substance a donation, and is recognised on receipt. Charter Partner contributions are recognised in line with the membership subscription. Income received in advance is deferred. - 12 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Liabilities are recognised as resources expended where there is a legal and constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and includes attributable value added tax which cannot be recovered. All other expenditure is charged on an accruals basis and is analysed between direct charitable and other expenditure as detailed in the Statement of Financial Activities. Costs of raising funds comprise those costs directly attributable to raising voluntary income. Charitable activities is divided into two categories - Research and Policy, and Services and Best Practice . Costs directly attributable to each category are allocated to that category, including direct staff time. Each charitable activity includes an apportionment of support costs based on the proportion of direct staff time dedicated to that charitable activity. Support costs include the general overheads of the charity, not attributable to direct charitable activities such as the website, office overheads and the finance function. Governance costs include those incurred in the governance of the charity and its assets are primarily associated with constitutional and statutory requirements. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Office equipment 5 years Computers 5 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities . ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 13 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 14 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **3 Donations and grant income** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
212
-
Grants and Strategic
Partner donations
92,918
134,510
93,130
134,510
**Grants receivable for**
**core activities**
Department of Work and
Pensions Access to
Work
995
-
Actors' Children's Trust
50,000
-
Strategic Partner
donations
8,750
-
Coronavirus Job
Retention Scheme –
furlough
3,173
-
Arts Council England
-
94,860
Creative Scotland
-
18,750
Esmee Fairbairn
Foundation
30,000
7,650
Dance Professionals
Fund
-
8,000
Help Musicians
-
3,750
Canterbury Christ
Church University
-
1,500
92,918
134,510|**Total**Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
212
50
-
227,428
37,508
761
227,640
37,558
761
995
-
761
50,000
25,000
-
8,750
8,500
-
3,173
4,008
-
94,860
-
-
18,750
-
-
37,650
-
-
8,000
-
-
3,750
-
-
1,500
-
-
227,428
37,508
761|Total
2021
£
50
38,269
38,319
761
25,000
8,500
4,008
-
-
-
-
-
-
38,269| |---|---|---| - 15 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **4 Charitable activities** ||**Services &**|**Services &**| |---|---|---| ||**Best**|**Best**| ||**Practice**|**Practice**| ||**2022**|**2021**| ||**£**|**£**| |Charter Partner contributions|41,433|15,717| |Less: deferred Charter Partner income|(12,059)|
(10,133)| |Provision of research|12,500|-| |Training income|3,475|-| ||45,349|5,584| ## **5 Income received on formation** The charity received the assets and liabilities of Parents in Performing Arts on 30th September 2020. The charity received these assets and liabilities without charge. Under the terms of the agreement the assets comprised both restricted and unrestricted income. ## **6 Other income** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Employment Allowance|4,000|4,000| ## **7 Raising funds** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Fundraising and publicity||| |Consultancy|5,919|2,880| |Staff costs|3,453|1,991| |Governance costs|36|| |Support costs|412|303| ||9,820|5,253| - 16 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **8 Charitable activities** |**Services**
**and Best**
**Practice**
**Research**
**and Policy**
**2022**
**2022**
**£**
**£**
Staff costs
108,627
36,136
Depreciation and
impairment
48
-
IT Software and
consumables
6,134
-
Subscriptions
53
-
Access- British Sign
Language, captioning etc
-
-
Consultancy fees
4,860
5,580
Training and recruitment
5,868
-
Events
585
800
Office costs
1,241
587
127,416
43,103
Share of support costs
(see note 10)
19,414
3,190
Share of governance costs
(see note 10)
1,667
274
148,497
46,567
**Analysis by fund**
Unrestricted funds
73,036
38,700
Restricted funds
75,461
7,867
148,497
46,567|**Total**
**Services**
**and Best**
**Practice**
**Research**
**and Policy**
**2022**
**2021**
**2021**
**£**
**£**
**£**
144,763
31,381
19,699
48
-
-
6,134
1,091
-
53
44
-
-
240
-
10,440
761
-
5,868
-
-
1,385
-
-
1,828
-
-
170,519
33,517
19,699
22,604
5,525
3,503
1,941
1,442
914
195,064
40,484
24,116
111,736
40,484
4,411
83,328
-
19,705
195,064
40,484
24,116|**Total**
**2021**
**£**
51,080
-
1,091
44
240
761
-
-
-
53,216
9,028
2,356
64,600
44,895
19,705
64,600| |---|---|---| ## **9 Description of charitable activities** ## Services and Best Practice Working with employers to assist them in introducing a framework that provides the organisation with the tools, resources and policies to implement family-friendly working practices. ## Research and Policy Research carried out into the disadvantages faced by those in the performing arts who have caring responsibilities. Influencing policy at a sectoral and Government level is a key focus for PiPA as we seek to embed change across the creative landscape. - 17 - **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **10 Support costs** |**Support**
**costs**
**Governance**
**costs**
**2022**
**2022**
**£**
**£**
Staff costs
8,242
-
Depreciation
904
-
Bookkeeping and accountancy
11,171
-
Office costs
982
-
Travel and recruitment
1,614
-
Sundry
103
-
Independent Examination fees
-
1,800
Legal and professional
-
35
Trustee travel and expenses
-
142
23,016
1,977
Analysed between
Fundraising
412
36
Charitable activities
22,604
1,941
23,016
1,977|**Total**
**2022**
**£**
8,242
904
11,171
982
1,614
103
1,800
35
142
24,993
448
24,545
24,993| |---|---| ## **11 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2021: none) . Three Trustees received travel expenses totalling £142 (2021: none). See note 21 for further related party transaction disclosure. ## **12 Employees** The average monthly number of employees during the year was: |Actual
Full-time equivalent
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2022**
**Number**
6
4
**6**
**2022**
**£**
141,663
11,755
3,040
156,458|**2021**
**Number**
5
3
**Months**
**2021**
**£**
53,905
4,206
1,118
59,229| |---|---|---| - 18 - **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **12 Employees** **(Continued)** The above full-time equivalent staff members is based on a 37.5 hour week and excludes hours during which an employee was furloughed. There were no employees whose annual remuneration was £60,000 or more, or who earned more than £30,000 over the six month comparative period. The Trustees consider key management personnel to include the joint Chief Executives. Key management salaries total £84,395 during the year (£36,342 comparative six months), which includes employer's pension and national insurance contributions. ## **13 Tangible fixed assets** |**Office**
**equipment**
**Computers**
**£**
**£**
**Cost**
At 1 April 2021
577
3,226
Additions
959
2,194
At 31 March 2022
1,536
5,420
**Depreciation and impairment**
At 1 April 2021
58
264
Depreciation charged in the year
259
693
At 31 March 2022
317
957
**Carrying amount**
At 31 March 2022
1,219
4,463
At 31 March 2021
519
2,962
**14**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Trade debtors
7,820
Other debtors
-
7,820|**Total**
**£**
3,803
3,153
6,956
322
952
1,274
5,682
3,481
**2021**
**£**
2,049
5,964
8,013| |---|---| - 19 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **15 Creditors: amounts falling due within one year** |**Notes**
Deferred income from Charter Partners
**16**
Trade creditors
Accruals
**Deferred income**
Movements in the year:
Deferred income at 1 April 2021
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2022|**2022**
**£**
12,059
3,396
6,197
21,652
**2022**
**£**
10,133
(10,133)
12,059
12,059|**2021**
**£**
10,133
1,283
3,591
15,007
**2021**
**£**
-
-
10,133
10,133| |---|---|---| ## **16 Deferred income** The Charter Partner year is not coterminous with the financial year. Income is deferred to the extent that it related to a future time period. ## **17 Retirement benefit schemes** ## **Defined contribution schemes** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to the Statement of Financial Activities in respect of defined contribution schemes was £3,040 (2021 - £1,118). - 20 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **18 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |
Fixed assets
Arts Council England – Elevate
Arts Council England – Intersectional Caring Responsibilities
Creative Scotland
Dance Professionals Fund
Esmee Fairbairn Foundation- Impact Report
Help Musicians
Canterbury Christ Church University|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
761
-
19,705
(19,705)
-
-
-
-
-
-
-
-
-
-
-
-
20,466
(19,705)|**Movement in funds**
**Transfers**
**Balance at**
**1 April 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 March 2022**
**£**
**£**
**£**
**£**
**£**
(761)
-
-
-
-
-
-
50,000
(50,000)
-
-
-
44,860
(8,446)
36,414
-
-
18,750
(9,365)
9,385
-
-
8,000
(6,105)
1,895
-
-
7,650
(7,650)
-
-
-
3,750
(262)
3,488
-
-
1,500
(1,500)
-
(761)
-
134,510
(83,328)
51,182| |---|---|---| - 21 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **18 Restricted funds** ## **(Continued)** The restricted funds are intended to be used for the following purposes: Fixed asset fund - money received for specific fixed assets Arts Council England – Elevate - income from Arts Council England as part of the Elevate programme to strengthen organisational resilience Arts Council England – ICR Creative Scotland - income from Arts Council England as part of the Intersectional Caring Responsibilities programme - grant to fund the Best Practice programme in Scotland Dance Professionals Fund - grant for dance research Esmee Fairbairn Foundation- Impact Report - income from Esmee Fairbairn to fund the production of an impact report Help Musicians - grant for music research Canterbury Christ Church University - grant for dance research - 22 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **19 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: ||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---| ||**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**||**Balance at**| ||**resources**|**expended**||**1 April 2021**|**resources**|**expended**|
**31**|**March 2022**| ||**£**|**£**|**£**|**£**|**£**|**£**||**£**| |Best Practice|-|-|1,986|1,986|-|(1,986)||-| |Match||||||||| |Funding for||||||||| |ACE Elevate||||||||| |grant|17,705|(3,217)|-|14,488|5,000|(9,684)||9,804| ||17,705|(3,217)|1,986|16,474|5,000|(11,670)||9,804| The designated funds are intended to be used for the following purposes: - to invest in the expansion of the charter programme Best Practice - to invest in the expansion of the charter programme Match Funding for Elevate Grant - reserves set aside to meet our match funding commitments - 23 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**20**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Fund balances at 31 March 2022 are represented
by:
Tangible assets
5,682
-
-
Current assets/(liabilities)
40,367
9,804
51,182
46,049
9,804
51,182|**Total**Unrestricted
funds
Designated
funds
Restricted
funds
**2022**
2021
2021
2021
**£**
£
£
£
5,682
3,481
-
-
101,353
14,950
16,474
-
107,035
18,431
16,474
-|Total
2021
£
3,481
31,424
34,905| |---|---|---| At the balance sheet date the free reserves stood at £40,367. - 24 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **21 Related party transactions** There were no disclosable related party transactions during the period aside from below, and none of the trustees received any travel expenses or remuneration. The charity received the assets of Parents in Performing Arts, a company Limited by guarantee, company number 10949206, on 30th September 2020, and took over the activities of the not for profit company. The assets comprised cash of £54,230 and £2,625 of tangible fixed assets. This donation is shown as an extraordinary item in the 2021 Statement of Financial Activities, as this transaction will not be repeated. ## **22 Contingent liabilities** The charity received the assets of Parents in Performing Arts, a company Limited by guarantee, company number 10949206, on 30th September 2020, and took over the activities, contracts and intellectual property of the not for profit company. As part of the agreement to transfer the assets, the charity undertook to indemnify Parents in Performing Arts against future costs which may arise as a result of the transfer. At the date of approval of these accounts, no further costs are known or expected. - 25 - **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **23 Merger accounting principles** The transfer of assets to the Charity in 2020 did not qualify to be treated as merger under the accounting standards due to only two of the trustees of the new entity being directors of Parents in Performing Arts at the date of transfer, and the transaction not taking place between two charities. Had the Charity been eligible to apply merger accounting, the activities of the two entitles would have been presented in the accounts as if they had continued uninterrupted, using the new Charity financial year end as a reference date. The following tables illustrate how the Statement of Financial Activities and Balance Sheet would have been presented under merger accounting principles. The figures in this note have been presented voluntarily, for clarity, in order to help show what the trend would have been over both 12 month periods, had these activities been undertaken by a single entity |**Statement of Financial**|**Total for**|
**Company 6**|**Charity 6**|
**Total for**| |---|---|---|---|---| |**Activities**|**the year to**|
**months**|**months**|
**the year**| ||**31/3/22**|||**to 31/3/21**| ||**£**|
**£**|**£**|
**£**| |Income and endowments from:||||| |Donations and grant income|227,640|
78,664|38,319|
116,983| |Charitable activities|45,349|
9,833|5,584|
15,417| |Other income|4,000||4,000|
4,000| |**Total income**|276,989|
88,497|47,903|
136,400| |Expenditure on:||||| |Raising funds|9,820|
8,810|5,253|
14,063| |Charitable activities|195,064|
67,067|64,600|
131,667| |**Total resources expended**|204,884|
75,877|69,853|
145,730| |**Net movement in funds**|72,105|
12,620|(21,950)|
(9,330)| |Fund balances at 1 April 2021|34,905|
44,235|-|
44,235| |**Fund balances at 31 March**||||| |**2022**|107,035|
56,855|(21,950)|
34,905| - 26 - ## **PARENTS AND CARERS IN PERFORMING ARTS (PIPA)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **(Continued)** |**23**|**Merger accounting principles**|**(C**|**ontinued)**| |---|---|---|---| ||**Balance Sheet**|**Total for**|
**Total for**| |||**the year**|
**the year**| |||**to 31/3/22**|
**to 31/3/21**| |||**£**|
**£**| ||**Tangible fixed assets**|5,682|
3,481| ||**Current assets**||| ||Debtors|7,820|
8,013| ||Cash at bank and in hand|115,185|
38,418| |||123,005|
46,431| ||**Creditors: amounts falling due within one year**||| ||Other creditors|9,593|
4,874| ||Deferred income|12,059|
10,133| |||21,652|
15,007| ||Net current assets|101,353|
31,424| ||**Total net assets**|107,035|
34,905| ||**Income funds**||| ||Restricted funds|51,182|
-| ||Unrestricted funds|55,853|
34,905| |||107,035|
34,905| - 27 -