##
|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||||||||||||||
##
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##
|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|||||
##
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##
|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|
##
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##
|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|
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||||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|
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|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|
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