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2022-03-31-accounts

Legal and Administrative Information
Trustees'
Report
Report ofthe Independent Auditors 19
Consolidated
Statement		 of Financial Activities 22
Balance Sheets 23
Consolidated
Statement		 ofCash Flows 24
Notes to the Consolidated Financial Statements 25
Charity name: Charity name: The British Paralympic The British Paralympic The British Paralympic The British Paralympic Association Association
A/so known as: ParalympicsGB
BPA
Charity registration number: 802385
Company registration number: 02370578
Registered office
101 New Cavendish Streets
London
W1W 6XH
Trustees and Directors Nick Webborn OBE Chair
David Clarke Vice Chair
Christopher
Brown		 Senior Independent Director
Kate Adams
P~ppa Bntton
James Forbes Dunlop
Sally Hancock
Fred Hargreaves
Helene Raynsford
David Ross
Helen Rowbotham
Anne Wafula Strike MBE
Chief Executive Officer Mike Sharrock
Company Secretary Adrian Stockman
Executive Team Mike Sharrock
Adrian Stockman, Director of Finance and Corporate Services
Penny Briscoe OBE, Director ofSport
Verity Naylor, Director ofOperations
Jenny Seymour, Commercial Director
Anna Scott-Marshall, Director ofCommunications
Auditors UHY Hacker Young
Quadrant
House
4Thomas More Square
London
E1W 1YW
Bankers HSBC
21 High Street
Purley
Surrey
CR8 2RW
Solicitors Hogan Lovells
Atlantic House
Holborn Viaduct
London
EC1A2FG
Website address htt://
aral
m ics.or		 .uk

Name Role AppointedlResigned
ifa
licable		 AppointedlResigned
ifa
licable		 AppointedlResigned
ifa
licable		 Board Meetings
Attended
Nick Webborn OBE Chair 5of5
Geolf Newton Vice Chair Resigned 13October 2021 30f3
to October 2021
David Clarke Vice Chair 5of5
from December 2021
Emma Boggis Senior Independent Director Resigned 15December 2021 4of4
to December 2021
Christopher
Brown		 Senior Independent Director 4of5
from December 2021
Kate Adams 4of5
Pi
a Britton		 A ointed 30 November 2021 20f2
Forbes Dunlo 3of5
Sall
Hancock		 A ointed 11 Februa 2022 1 of 1
Fred Har reaves A ointed 30 November 2021 2of2
Helene Ra nsford 5of5
David Ross 3of5
Helen Rowbotham 5of5
Anne Wafula Strike MBE 3of5
he Board meets a minimum offour times per year and on an ad hoc basis where required. The table below
ets out the meetings held in the Reporting Period and summarises the key decisions taken:
Board Meetin Date Ke
To		 ics and Decisions
Informal
Board Update		 26 May 2021 Review ofTokyo COVID Planning,
Review		 ofBPA Risk
Mana ement Dashboard
Board Meeting 28 July 2021 Tokyo Games Update and Review of Risk Framework,
(held virtually) Approval ofParis Cycle Budget, Approval ofStatutory
Accounts
Board Meeting 13 October 2021 Tokyo Games Review, Beijing Games Update, Review of
(Hybrid, BPA London Board Evaluation, Approval ofReviewed
Policies
Office and virtual
Board Meeting 15 December 2021 Appointment ofVice-Chair and SID, Update on Board
(Virtual) Elections and Recruitment, Beijing Games Update,
Confirmation of2022 Board Meetin Dates
Board Meeting 30 March 2022 Beijing Games Review, Annual
Budget Approval,
Approval of
(Hybrid, BPA London updated Committee
Terms		 ofReference
Office and Virtual

Ethnicity - Staff 8 White British 91 /o. White Irish 3/0. Black/ Black British African 3/0,. Other unspecified African 3/0,. Other unspecified
Board back
round 3/0
Gender —Staff & Male 38/0.. Female 62'/0, Other gender self-identification 0/0
Board
Disability —Staff & Yes 13'/o.'No 87/0
Board
Sexual orientation— Homosexual
2/0. Heterosexual		 96/0. Prefer not to answer 2'/0
Staff and Board

INCOME AND EXPENDITURE ACCOUNT INCOME AND EXPENDITURE ACCOUNT
Unrestricted Restricted Total Total
Note Funds Funds 2022 2021
Incoming Resources
Income and endowments from:
Donations
and legacies		 2,312,575 5,621,733 7,934,308 2,692,230
Other trading
activities		 3,173,687 - 3,173,687 2,283,831
Investment
income		 345 345 452
Total income 5,486,607 5,621,733 11,108,340 4,976,513
Expenditure
on:
Raising funds (757,101) (217,333) (974,434) (619,829)
Charitable
activities		 (2,739,922) (5,566,660) (8,306,582) (3,069,853)
Total expenditure (3,497,023) (5,783,993) (9,281,016) (3,689,682)
Net income/(expenditure) 1,989,584 (162,260) 1,827,324 1,286,831
Net movement
in funds		 1,984,584 (162,260) 1,827,324 1,286,831
Reconciliation
offunds
Fund Balances Brought Forward at
1 April 2021 2,922,952 155,807 3,078,759 1,791,929
Funds Balances Carried Forward at
31 March 2022 4,912,536 (6,453) 4,906,083 3,078,759

BALA NCE SHEE TS AT 3't MARCH 2022 TS AT 3't MARCH 2022
Group Company
Note 2022 2021 2022 2021
FIXEDASSETS
Tangible Fixed Assets 11 67,466 146,893 24,374 42,601
Investment
in Subsidiaries		 12 6 6
67,466 146,893 24,380 42,607
CURRENT ASSETS
Debtors 13 1,856,835 2,834,729 2,062,046 1,674,475
Cash at Bank and in Hand 7,042,139 4,246,808 2,692,859 2,699,177
8,898,974 7,081,537 4,754,905 4,373,652
CREDITORS —Amounts
Falling Due Within One Year 14 (4,060,357) (4,149,671) (3,535,240) (3,749,201)
NET CURRENT ASSETS 4,838,617 2,931,866 1,219,665 624,451
NET ASSETS 4,906,083 3,078,759 1,244,045 667,058
FUNDS
Restricted
Income Funds		 17 (6,453) 155,807 (6,453) 138,639
Unrestricted
Funds		 4,912,536 2,922,952 1,250,498 528,419
Total Charity Funds 18 4,906,083 3,078,759 1,244,045 667,058
CONSOLIDATED CONSOLIDATED CONSOLIDATED CONSOLIDATED STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
2022 2021
Cash flows from operating activities
Net cash generated from operating
activities		 2,804,196 1,811,239
Cash flows from investing activities
Interest 345 452
Purchase offixtures, fittings and equipment 9,210 71,715
Net cash used ininvesting activities 8,865 71„263
Change in cash and cash equivalents in the reporting period 2,?95,331 1,739,976
Cash and cash equivalents at 1 April 4,246,808 2,506,832
Cash and cash equivalents at31March 7,042,139 4,246,808
Reconciliation
of net income		 to net cash flow from operating activities
2022 2021
R
Net income for the reporting period 1,827,324 1,286,831
Depreciation
charges		 88,637 92,492
Interest (345) (452)
Decrease
in debtors		 977,889 (367,960)
Decrease
in creditors		 89,309 800,328
2,804,196 1,811,239
Cash and cash equivalents
2022 2021
Total cash and cash equivalents 7,042,139 4,246,808

COSTS OF G ENE RAT ING
FUNDS
Unrestricted Restricted Total Total
Funds Funds 2022 2021
Fundraising costs 21,566 21,566 22,026
Communications costs 36,527 36,527 18,560
Salaries and National Insurance 407,392 407,392 357,769
Commercial support and activation 157,263 157,263 46,919
622,748 622,748 445,274
Support costs 134,353 217,333 351,686 174,555
757,101 217,333 974,434 619,829
DIRECT CHARITABLE EXPENDITURE
Unrestricted Restricted Total Total
Funds Funds 2022 2021
R R
Planning, preparation and performance 1,472,606 5,327,678 6,800,284 1,612,032
at Paralympic Games
Activities to promote social change 679,034 13,627 692,661 504,119
regarding disability
International representation 5,328 5,328 9,366
2,156,968 5,341,305 7,498,273 2,125,517
Support costs 582,954 225,355 808,309 944,336
2,739,922 5,566,660 8,306,582 3,069,853

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2022 2021
Turnover 6,703,092 2,635,087
Direct Cost and Administrative Expenses (3,041,133) (223,384)
Operating Profit 3,661,959 2,411,703
Interest Receivable
Tax on Profit on Ordinary Activities
Profit on Ordinary Activities after Taxation 3,662,038 2,411,703
The aggregate of the assets, liabilities and funds was:
2022 2021
f.
Assets 6,526,914 5,152,369
Liabilities (2,864,874) (2,740,664)
3,662,040 2,411,705
Funds:
Share Capital 2 2
Profit and Loss Account 3,662,038 2,411,703
3,662,040 2,411,?05

A summary o fthe res ults ofthis s ubsid iary
is shown
belo		 w:
2022 2021
R
Income 915,615 674,926
Expenditure (910,579) (671,627)
Gross Profit 5,035 3,299
Administrative Expenses (5,090) (3,473)
Operating Result (55) (174)
Interest Receivable 55 174
Taxation on Surplus on Ordinary Activities
Profit on Ordinary Activities after Taxation
The aggregate of the assets, liabilities and funds was:-
2022 2021
Assets 1,763,303 505,673
Liabilities (1,763,301) (505,671)
Funds:
Share Capital
Profit and Loss Account

2022 2021
Gross Salaries 1,825,819 1,629,474
Employers' National Insurance 182,441 177,828
Pension - Defined Contribution 209,428 183,905
2,217,688 1,991,207
2022 2021
No. No.
Charitable Activities 33 32
Cost ofGenerating Funds 7 7
40 39

Net movement
in funds		 is arrived at after charging: 2022 2021
R
Depreciation
oftangible		 fixed assets 88,637 92,492
Foreign exchange
(gain)/ loss		 (5,821) 100,247
Auditors'
remuneration		 18,908 13,151

TANGIBLE FIXEDASSETS
Fixtures, Fittings and
Equipment
Group Company
Cost R
At 1 April 2021 550,663 361,053
Additions 9,210 9,210
At 31 March 2022 559,873 370,263
Depreciation
At 1 April 2021 403,770 318,452
Charge for the Year 88,637 27,437
At 31 March 2022 492,407 345,889
Net BookValue
At 31 March 2022 67,466 24,374
At 31 March 2021 146,893 42,601

Company Company
2022 2021
R
British Paralympic Enterprises Limited
British Paralympic Performance Services Limited
Paralympic
World		 Cup

Group Group Company Company
2022 2021 2022 2021
R
Amounts Due from Group Companies 1,653,202 473,166
Prepayments and Accrued Income 1,797,120 1,150,180 349,129 796,996
Sundry Debtors 59,715 59,715 404,313
Trade Debtors 1,684,549
1,856,835 2,834,729 2,062,046 1,674,475
14 CREDITORS
Group Company
2022 2021 2022 2021
Amounts Falling Due Within One Year K
Amounts due to group companies 735 735 2,450,590 2,373,434
Accruals and deferred income 3,214,422 3,052,092 342,977 343,728
Deferred grant Income 100,759 400,057 371,815
Other creditors including
VAT		 625,625 655,325 622,860 618,763
Other taxes and social security costs 'I18,816 41,462 118,816 41,462
4,060,357 4,149,671 3,535,243 3,749,201
Movement. on Deferred Grant Income
At 1 April 400,057 297,625 371,815
Released to SOFA in the year (400,057) (297,625) (371,815)
Deferred in the current period 100,759 400,057 371,815
100,759 400,057 371,815

Group Group Company Company
2022 2021 2022 2021
Financial assets that are debt instruments at amortised
cost
Debtors
Group balances 1,653,202 473,166
Sundry debtors 59,715 1,684,549 59,715 404,312
Cash at bank and in hand 7,042,139 4,246,808 2,692,859 2,699,177
7,101,854 5,931,357 4,405,776 3,576,656
Creditors
Group balances 735 735 2,450,590 2,373,434
Other creditors 625,625 655,325 622,860 618,763
6,4?5,494 5,800,670 1,332,326 2,992,196

t the 31
1,988,9		 March 2022 the amount oflease payments
c
20(2021:f2,283,574).		 ommitted
with r		 espect to the rental ofoff ice space w
Group Company
2022 2021 2022 2021
Amounts due:
not later than one year 294,655 294,655 294,655 294,655
later than one year and not later than five years 1,178,619 1,178,619 1,178,619 1,178,619
later than five years 515,646 810,300 515,646 810,300
1,988,920 2,283,574 1,988,920 2,283,574

Unrestricted Restricted Total
Funds Funds Funds
Fund Balances at 31 March 2022 are represented by:
Tangible Fixed Assets 67,466 67,466
Current Assets 8,905,427 (6,453) 8,898,974
Current Liabilities 4,060,357 4,060,357
Total Net Assets 4,912,536 (6,453) 4,906,083

The comparatives
for both the Unrestricted
and		 Restricted
Funds
in 2021 are a		 s follows:
Unrestricted Restricted Total
Funds Funds Funds
Fund Balances at 31 March 2021 are
represented
by:
Tangible
Fixed Assets		 146,893 146,893
Current Assets 6,925,730 155,807 7,081,537
Current
Liabilities		 4,149,671 4,149,671
Total Net Assets 2,922,952 155,807 3,078,759