**Cosmetic Toiletry & Perfumery Foundation (Programme Title: “Look Good Feel Better”) Trustees Report and Financial Statements 31 December 2020** 

Registered No: 2850925 - Company Limited by Guarantee Registered Charity No: 1031728 



## **About Us** 

The Vision of the Foundation through the Look Good Feel Better (LGFB) Programme is to ensure that anyone living with cancer can access our services. 

The Mission of the Programme is to help boost the physical and emotional wellbeing of people living with cancer through online and face to face Workshops, printed materials and web-based tutorials. 

The first Workshop for women was held 26 years ago and since then the charity has developed special sessions for young adults and, in 2018, introduced vitally needed services for men. Each group session is led by trained volunteers and is a chance to meet others in a similar situation, as well as learning useful skills and techniques to manage the side-effects of cancer treatment. 

Finding out you have cancer is traumatic. The added stress of the appearance related side-effects can be demoralising and feel overwhelming, which can have serious psycho-social consequences at a time when a positive attitude is vital. 

## **2020 : Cancer Support and Covid** 

Pre Covid Look Good Feel Better was offering group workshops through 141 hospitals, cancer support centres and other venues and in 2019 supported 16,500 people, with thousands more seeking advice online. Services are offered to all ages, skin-tone and every type of cancer. 

2020 was set to be a record year for Look Good Feel Better, both in terms of patient reach and fundraising but, like most companies and charities, the Covid pandemic caused instant devastation. In March 2020 LGFB pulled services out of all locations and a drop in income of up to 60% was forecast due to the infeasibility of many fundraising initiatives, especially retail and event based. 

Very serious decisions had to be made to radically cut expenditure and nearly 50% of staff were put on furlough and subsequently 7 roles had to be made redundant. The remaining 6 full time staff agreed to temporary salary cuts and part time working to help maintain the charity. 

Our cash flow forecasts predicted that the charity’s long built-up cash reserves would be required to support the Foundation’s operations through 2020 and 2021. 

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## **New Services** 

Alongside the challenging financial situation, it became increasingly obvious that even though Covid had put a halt to ‘normal’ life, cancer hadn’t stopped. Cancer patients were telling the charity that they felt more isolated, alone, frightened and forgotten throughout the crisis so withdrawing all support wasn’t an option. 

The remaining team of 10 staff were determined to still provide support for cancer patients and within two weeks the Programme Services team had created, trialled and launched ‘virtual’ workshops. 

Using the power of Zoom, LGFB spent 2020 bringing groups of 8-10 people together for two-hour sessions filled with confidence boosting tips and techniques, fun and often a lot of laughter. The new online Workshops enable LGFB to bring their unique brand of support to people in the comfort and safety of their own homes. Most importantly they have a chance to ask questions they don’t feel comfortable sharing with their oncologist or family. They report feeling less alone, less isolated and less stressed and are able to chat and share their experiences, giving a vital boost to mental wellbeing at an extraordinarily difficult time. 

Facing Cancer and Covid is unimaginable and knowing that ‘normal’ levels of support are no longer available and someone’s only contact is with medical teams - on their own, without family or friends for support, must feel impossible to face. 

During 2020 Look Good Feel Better has not only offered skincare and makeup Workshops but has asked patient beneficiaries how else the charity can help. Through the year the charity has increased its offering to include hair loss/wigs/head coverings; nail care and body confidence/styling. 

Online Workshops have been held very successfully for women, men and young adults and once the pandemic is officially ‘over’ the charity will move back to face to face groups in 140+ locations but will also still offer the new services. 

The charity’s ambition continues to be **‘the ability to reach out and support** _**every**_ **person living with cancer in the UK’** . 

_“It’s really important for people to have access to Look Good Feel Better’s incredibly practical service - the effect a Workshop has on appearance and confidence is life enhancing_ 

_during such a difficult time. It allows people to take control of how they look and feel, when everything else feels like it’s outside of their control.”_ 

## **Dr Natalie Doyle – Nurse Consultant - Living With & Beyond Cancer** 

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## **MEMBERS OF THE BOARD AT DATE OF SIGNING (June 2021)** 

Geoff Percy Chairman, CTPF Mark Spillman Vice Chair CTPF Allie Crawford Treasurer, CTPF Chrys Andradi Trustee, CTPF Kenneth Green Chairman, Kenneth Green Associates Ian Jepson Commercial Director, Chanel Debbie Lewis Managing Director, Clarins (UK) Ruth Newton-Jones Fragrance Group London Debbie Hunter Director of Commercial Affairs, CTPA Ian Marshall Trustee, CTPF Anna Bartle VP, Corporate Affairs, Estée Lauder Companies Suriya Parksuwan L’Oreal Luxe 

## **OTHER MEMBERS OF THE BOARD IN POST DURING 2020** 

Ian Filby 

Resigned 26[th ] April 2021 

## **EXECUTIVE SERVICES** 

Sarahjane Robertson Peter Godden (Company Secretary) 

Chief Executive, CTPF Finance Director (p/t), CTPF 

## **HONORARY LIFE PRESIDENT** 

Richard Bradley 

## **HONORARY VICE PRESIDENTS** 

Barbara Daly OBE Gloria Freilich Diana Moran Charles Worthington MBE Susan Taylor Per Neuman 

## **REGISTERED AND ADMINISTRATIVE OFFICE** 

West Hill House, 32 West Hill Epsom KT19 8JD 

## **AUDITORS** 

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW **SOLICITORS** CMS Cameron McKenna LLP **BANKERS** Barclays Bank Pl 

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## **Donated Products and Services** 

The Foundation’s charitable activities continue to rely on: 

- the donation of suitable skincare and cosmetic products for use by the charity’s beneficiaries 

- compassionate and professional skincare, make-up and grooming consultants who volunteer to host the workshops in hospitals and cancer support centres 

The Board recognises the significant benefit to the Charity of donated products; Over 23 companies donate products each year. 

The charity is also very grateful for the significant logistical support it receives from one company, which enable products to be sent to support sessions across the UK. 

## **Raising Funds** 

The charity’s revised fundraising objective for 2020 was to contribute to securing the future of the charity post-Covid. The Directors believe that this has been achieved. 

As previously stated, in April 2020 the charity was predicting a 60% loss of income and many usual routes to raise funds were no longer possible. Expenditure was cut and redundancies were made across most areas, including two roles in Fundraising. The remaining two members of the team worked with the CEO to plan and action new areas of support with key income streams switching in the following way : 

Important levels of funding had previously come from the retail sector and focus was quickly shifted to beauty e-tailers and organisations selling directly to customers. This plan paid strong dividends with several very positive CRM campaigns and new relationships developed which will grow into 2021. Whilst traditional funding streams declined by over £600k due to both Covid-19 and the general difficulties for some of our high street partners, the new streams, together with a generous grant from the Julia and Hans Rausing Trust, offset a large part of this decline. 

A full list of key organisations which supported the charity in 2020, whether through product donations, staff time or fundraising, has been included in Note 15 to the Accounts at the back of this document. The Foundation is very grateful to every one of them for the part they have played in helping support women, young adults and men living with cancer. 

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The Charity did not pay any third party or agency to undertake material fundraising activities on its behalf and received no complaints during the course of the year regarding any fundraising activities. 

The Charity and its Trustees are fully aware of the requirements and duties set out in the Charities (Protection and Social Investment) Act 2016 with respect to fundraising activities and are focused on ensuring any future fundraising activities are fully compliant. 

## **Strategic Direction and Governance** 

The Cosmetic, Toiletry and Perfumery Foundation (Registered No: 2850925 - Company Limited by Guarantee, Registered Charity No: 1031728) is governed by its Memorandum and Articles of Association and operates through its Programme, Look Good Feel Better (LGFB). 

The Members of the Board are the Charity Trustees and also the Directors for the purposes of the Companies Act 2006. The Board is made up of senior Directors nominated by supporting companies who are actively engaged in the LGFB Programme as well as independent individuals who are selected through an interview process with other directors. Nominations are made to maintain a balance of expertise at a senior level. 

Newly nominated Directors are given a thorough understanding of the Programme through meeting with the Chief Executive, other members of the Executive Team and are encouraged to observe workshops on a regular basis. They are encouraged to attend appropriate external training events where this would facilitate the undertaking of their role. 

The Board is responsible for overseeing the strategy of the charity and ensuring the Foundation’s finances are on a firm footing using the guidance of a Finance Committee drawn from senior finance executives of member companies and individuals. 

An Ambassador Group, made up of individuals directly employed by member and supporting companies, champion and manage their company’s input to the LGFB Programme. 

The Chief Executive, Sarahjane Robertson, has overall responsibility for all operational matters to ensure the successful delivery of the Programme. 

The Foundation has a wholly owned Trading subsidiary, Look Good Feel 

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Better Trading Limited, which was formed to undertake non primary purpose trading activities to raise funds on behalf of the Charity. All profits from this subsidiary are gifted to the Parent Charity on an annual basis. 

## **Public Benefit** 

The Trustees confirm that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission and have considered this in setting the key strategic objectives of the Foundation. 

## **Risk Management** 

The Board acknowledges its responsibility for establishing a risk management system and is satisfied that appropriate procedures have been established to identify and mitigate major risks which the Foundation faces. A Risk Register is maintained on this basis, including an assessment of the scale of probability of specific risks to better identify strategic areas for review. It is recognised that systems can only provide reasonable but not absolute assurance that major risks will be adequately managed. 

The Board is keenly aware of the risks posed to the organisation by the unprecedented impact of the Covid-19. The combination of its reserves built in line with its policy and sanctioning management to take steps to streamline the organisation has enabled the charity to plan for continued operations into the future even with the risk of reduced income levels. Once the activities return to a level of normality, the Board will review the Risk Register and Reserves Policy to ensure they remain appropriate for the future. 

The operational and financial risks facing the charity as a result of the above are summarised as follows: 

|**Key Operational Risk**|**Mitigating Action**|
|---|---|
|Reduced resources at NHS venues<br>when physical workshops restart|Implement an online booking system to<br>reduce administration time.|
|Our clients, who all have underlying<br>health problems, may not feel<br>comfortable attending physical|Significantly expand the virtual on-line<br>workshops|



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|workshops or social distancing will<br>reduce reach||
|---|---|
|||
|**Key Finance Risk**|**Mitigating Action**|
|Limited fundraising in the short term<br>and significantly lower estimates for<br>the mid/long term|Use of our unrestricted reserves<br>Apply for a Government ‘Bounce Back’<br>loan as a cushion|
|Reduced financial & operational<br>support from member companies|Plan for alternative sources of funding<br>– e.g. e-tailers and trust funds.|
|Unable to fund the current<br>organisational structure and<br>associated costs|Operational expenditure budgets<br>reworked to match the changing<br>nature of the programme and<br>fundraisingactivities.|



The Board recognises the need for all risks associated with the efficient delivery of the Programme to be kept under review, especially as it reshapes the organisation and its services to provide continued public benefit. 

In addition to the specific risk outlined above, the Board considers that the key risks faced by the Charity are 

- maintaining the support of the various companies and other supporters who donate funds, services and products for the Look Good Feel Better Programme 

- ensuring the Programme retains the goodwill of the volunteers who allow the Programme to take place 

The Charity seeks to mitigate these risks through continual efforts to engage with all volunteers and other supporters of the Charity to ensure their level of commitment to the Programme remains high. 

## **Going Concern** 

On page 9 we have set out a review of financial performance and the Charity's Reserves position. The reserves held prior to the outbreak of Covid-19, together with the steps taken to streamline the organisation and reduce costs have placed it in a relatively strong position to continue in 

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operation during the pandemic and beyond. 

Our planning process, including financial projections, has taken into consideration the current economic climate and its potential impact on the various sources of income and planned expenditure. We have a reasonable expectation that we have adequate resources to continue in operational existence for the foreseeable future and the accounts have, therefore, been prepared on the basis that the Foundation is a going concern. Whilst there is increased uncertainty around income forecasts during the ongoing effects of the pandemic, the Board is confident that the Foundation can adapt and mitigate as needed as was demonstrated during 2020. 

## **Remuneration** 

The Remuneration Committee, which operates as a sub-committee of the Finance Committee, is expected to meet twice a year. This committee makes recommendations on overall remuneration levels and specific recommendations for the remuneration of the Chief Executive. These recommendations are then put to both the Finance Committee and Board for agreement. 

## **Charity Governance Code** 

The Charity Governance Code was published in 2017. The code sets out seven principles of good governance and encourages charities to review their governance structures and processes against this code to ensure they are fit for purpose and operate efficiently. Although no major concerns have been identified, the Board is currently conducting a review of its governance processes. 

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## **Charity Objectives for 2021** 

Our objectives for 2021 are: 

- To ensure Look Good Feel Better’s expanded range of virtual and ‘in person’ workshops are made available to anyone undergoing cancer treatment in the UK 

- To provide wide ranging support to cancer patients focussed on boosting confidence, mental wellbeing and a positive outlook during and after their treatment 

- To offer support to women, men and young adults diagnosed with any type of cancer 

- To continue to foster strong relationships with our corporate, brand and individual supporters to ensure we achieve or exceed budget 

- To evolve the charity’s business plan to include the broader offering for cancer patients both online and face to face, reflect learnings from 2020 and focus strongly on opportunities for growth and increased patient reach 

## **Financial Review and Reserves** 

The financial statements show a net surplus in resources for the year of £309,882 (2019: £71,677) which together with the funds brought forward of £784,352 (2019: £712,675) results in funds to be carried forward of £1,094,234 including unrestricted reserves of £942,738. 

Our supporters raised £1.6m (2019: £2.9m) in 2020, including £0.4m of Gifts in Kind (2019: £1.5m). The remaining £1.2m came from member companies, corporate partners, individual supporters and trusts, all of whom fundraised to help the Charity support its patient beneficiaries. 

The Charity invested £1.3m (2019: £2.8m) in services for cancer patients, including £0.4m of donated services. The Charity’s main direct expense is on its staff (£0.7m, 2019: £ 0.8m). Most of these are directly involved in running frontline services, including: 

- Recruitment, training and management of volunteers (2,229 active 

- volunteers in 2020) 

- Sourcing and coordination of product donations and logistics 

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- Liaising with hospitals, cancer centres and support groups who act as venues / hosts for the sessions 

- PR and communications, seeking to raise awareness of the Programme amongst potential beneficiaries as well as volunteers and other supporters 

- Fundraising and engaging with our corporate and other supporters 

- Research and development of new services to support our 

- beneficiaries 

- Management and compliance with all relevant legislation; providing support services to the frontline staff 

Other expenditure is on consumable products for the support sessions, travel costs for volunteers and running costs for head office. 

## **Budgeting and Forward Planning** 

The Foundation is fortunate to have a highly qualified Finance Committee on whose expertise they can draw. This committee sits 2-3 times a year and gives input and advice on the Foundation’s plans and financial projections for the year ahead, as well as scrutinising the report of the Auditors. The Finance Committee then makes recommendations to the Board of Trustees in relation to these items. 

The Foundation’s budget is always prepared on a prudent basis, recognising the inherent unpredictability of donation income. 

Part of the Charity’s core funding comes from corporate ‘membership’ donations. We ask that member companies make a declaration of support for the year ahead ensuring that the budget can be calculated on a sound financial basis 

## **Donated Services** 

The Foundation is exceptionally grateful for the donated volunteer time, logistical support and the products used in the patients’ gift bags, which have all been donated by the Cosmetic’s Industry (without cost to the Foundation) without which the Programme would be unable to run. The value of the product donations and logistical support received has been included as ‘Gifts in Kind’ in the Statement of Financial Activities. 

The Charity also receives donated advertising space which assists in raising awareness of the work of the charity. The charity is very grateful to the relevant publishers for the publicity this provides but no financial value is attributed to this advertising space as the advertising would not be undertaken if not donated. 

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The volunteer time, although crucial to the success of the programme, has not been valued in line with the recommendations of the Charities’ SORP 2015. 

## **Reserves Policy** 

At 31 December 2020 the Group had free reserves (i.e. unrestricted reserves 

not used to fund fixed assets) totalling £881,328 (2019: £713,769). The reserves policy is set by the Trustees and is intended to reflect the changing scale of the Charity and operations over time 

- Six months operational costs allowing the activities to continue in the event of a significant fall in income 

- Six months cost of logistical support at commercial rates 

- An amount set aside for purchasing beauty products for use in Workshops in the event of a donation shortfall or catastrophic event, e.g. flood or fire at the logistics centres 

At 31st December 2020, based on the plans for 2021, this calculation gave a desired reserves figure in the region of £550,000. Whilst current reserves look arithmetically high, during 2021 a deficit of c. £200,000 is planned which will require funding from reserves. In addition we expect services to have returned to their normal level by the end of the year with a corresponding increase in direct expenditure. Free reserves at 31[st ] December 2021 are therefore expected to be in line with policy. 

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## **Statement of Trustees’ Responsibilities Year ended 31 December 2020** 

The Trustees (the members of the Board who are also Directors of The Cosmetic, Toiletry & Perfumery Foundation for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable laws and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities Statement of Recommended Practice (SORP); 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable UK 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 company will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. 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. 

## **Auditors** 

So far as the Members of the Board are aware, there is no relevant audit information of which the charity’s auditors are unaware. The Members of the Board have each taken all the steps that we ought to have taken as Members of the Board in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information. 

Crowe U.K. LLP has expressed their willingness to continue as auditors for the next financial year. 

On behalf of the Board 


Geoff Percy Chairman 13[th] September 2021 

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Independent Auditor’s Report to the Members Foundation for the year ended 31 December 2020 

## **Opinion** 

We have audited the financial statements of The Cosmetic, Toiletry and Perfumery Foundation for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities (Incorporating the Income and Expenditure Account), the Consolidated and Charitable Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 December 2020 and of the group’s income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

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

## **Other information** 

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements 

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themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report. 

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

- adequate and proper accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. 

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

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. 

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations included Employment Legislation, Taxation Legislation and General Data Protection Regulation (GDPR). 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all 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. 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. 


## **Tina Allison** 

Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 

17 September 2021 

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## **Consolidated Statement of Financial Activities (incorporating an Income and Expenditure Account) Year Ended 31 December 2020** 

|Notes<br>**INCOME AND ENDOWMENTS FROM:**<br>Donations and legacies<br>-<br>General donations and legacies<br>-<br>Member Pledges<br>-<br>Gifts in Kind<br>Other trading activities<br>Other<br>**TOTAL INCOME AND ENDOWMENTS**<br>**EXPENDITURE ON:**<br>Raising funds<br>Charitable activities<br>Gifts in Kind<br>Other<br>**TOTAL EXPENDITURE**<br>3<br>**Net Income**<br>**Funds brought forward at 1 January 2020**<br>**Funds carried forward at 31 December**<br>**2020**|**Unrestricted**<br>**Restricted**<br>**Total**<br>**Total**<br>**Funds**<br>**£**<br>**Funds**<br>**£**<br>**2020**<br>**£**<br>**2019**<br>**£**<br>410,858<br>245,731<br>656,589<br>1,087,380<br>147,000<br>-<br>147,000<br>149,500<br>359,538<br>-<br>359,538<br>1,521,233<br>292,838<br>-<br>292,838<br>111,612<br>133,539<br>-<br>133,539<br>3,003|
|---|---|
||**1,343,773**<br>**245,731**<br>**1,589,504**<br>**2,872,728**|
||346,313<br>34,621<br>380,934<br>490,863<br>359,538<br>-<br>359,538<br>1,521,233<br>457,975<br>81,175<br>539,150<br>788,955|
||**1,163,826**<br>**115,796**<br>**1,279,622**<br>**2,801,051**|
||**179,947**<br>**129,935**<br>**309,882**<br>**71,677**|
||**762,791**<br>**21,561**<br>**784,352**<br>**712,675**|
|||
||**942,738**<br>**151,496**<br>**1,094,234**<br>**784,352**|



Included in Other Income above is a grant of £131,336 from the UK Government as part of the Coronavirus Job Retention Scheme (CJRS). 

The notes on pages 20 to 33 form part of these financial statements 

17 



Consolidated and Foundation Balance Sheets as at 31 December 2020 

|Notes<br>**FIXED ASSETS**<br>Intangible Assets<br>6<br>Tangible assets<br>6<br>Investments<br>12<br>**Total fixed assets**<br>**CURRENT ASSETS**<br>Stock<br>Debtors<br>7<br>Short term deposits<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due<br>8<br>within one year<br>**Net current assets**<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted funds<br>- General funds<br>- Designated Funds<br>10<br>Restricted funds<br>10<br>**TOTAL FUNDS**|**2020**<br>**2020**<br>**2019**<br>**2019**<br>**Parent**<br>**Group**<br>**Company**<br>**Group Parent Company**<br>**£**<br>**£**<br>**£**<br>**£**<br>32,927<br>32,927<br>31,481<br>31,481<br>13,483<br>13,483<br>2,541<br>2,541<br>-<br>100<br>-<br>100|
|---|---|
||**46,410**<br>**46,510**<br>**34,022**<br>**34,122**<br>36,704<br>36,704<br>37,414<br>37,414<br>315,929<br>362,057<br>208,621<br>278,705<br>209,768<br>209,768<br>207,878<br>207,878<br>733,863<br>672,196<br>443,426<br>385,358|
||**1,296,264**<br>**1,280,725**<br>**897,339**<br>**909,355**<br>(248,440)<br>(233,001)<br>(147,009)<br>(159,125)|
||**1,047,824**<br>**1,047,724**<br>**750,330**<br>**750,230**|
|||
||**1,094,234**<br>**1,094,234**<br>**784,352**<br>**784,352**|
||927,738<br>927,738<br>747,791<br>747,791<br>15,000<br>15,000<br>15,000<br>15,000<br>151,496<br>151,496<br>21,561<br>21,561|
||**1,094,234**<br>**1,094,234**<br>**784,352**<br>**784,352**|



The parent charity's net income included in the consolidated results above, was £18,474 (2019: £25,542 net expenditure). 

The financial statements on pages 17 to 33 were approved and authorised for issue by the Members of the Board on 1[st] July 2021 and signed on their behalf by the Chairman. 

Geoff Percy Chairman 13[th] September 2021 

18 



**Consolidated Statement of Cashflows for the year ended 31 December 2020** 

||**2020**|**2019**|
|---|---|---|
||**£**|**£**|
|**Net cash generated by operating activities**|**325,369**|**92,873**|
|**Cash flows from investing activities**|||
|Interest|2,203|3,003|
|Purchase of intangible assets|(17,753)|-|
|Purchase of equipment|(17,492)|(1,097)|
|**Net cash provided by investing activities**|**(33,042)**|**1,906**|
|**Change in cash and cash equivalents in the reporting period**|292,327|94,779|
|**Cash and cash equivalents at 1st January 2020**|651,304|556,525|
|**Cash and cash equivalents at 31st December 2020**|**943,631**|**651,304**|
|**Reconciliation of net movement in funds to net cash flow from**|**operating activities:**||
||**2020**|**2019**|
||**£**|**£**|
|**Net movement in funds for the reporting period**|**309,882**|**71,677**|
|Adjustments for:|||
|Depreciation charges|22,857|19,870|
|Interest|(2,203)|(3,003)|
|Decrease in stocks|710|26,841|
|(Increase) in debtors|(107,308)|(41,967)|
|Increase in creditors|101,431|19,455|
|**Net cash inflow from operating activities**|**325,369**|**92,873**|
|**Analysis of cash and cash equivalents**|||
||**2020**|**2019**|
||**£**|**£**|
|Cash in hand|733,863|443,426|
|Notice deposits (less than 100 days)|209,768|207,878|
|**Total cash and cash equivalents**|**943,631**|**651,304**|



19 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) Accounting Policies 

## **1. Accounting Policies** 

## **a) Basis of Preparation** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the 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 (FRS102) (Charities SORP (FRS102)). 

In their assessment of going concern the Trustees have considered the current and developing impact on the business as a result of the COVID19 virus. 

This had a significant, immediate impact on the Charity’s operations, in that income was forecast to be significantly down due to postponed/cancelled fundraising activities and that face-to-face workshops in NHS hospitals could not function during lockdown. Actual results for 2020, however, show that funding remained relatively robust due to seeking new income sources. 

In 2020 the Trustees updated their annual budgets and forecasts based on estimates of the impact of the crisis and undertook the following actions (furloughed staff, temporarily reduced salaries, made 7 roles redundant as well as cutting other expenditure) in order to ensure that they had sufficient facilities in place to meet their operating cash requirements for the foreseeable future. 

Having regard to the above, the Trustees believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements. 

Intragroup balances are eliminated fully on consolidation. No statement of financial activities is presented for the charitable company alone as the results of the subsidiary company are separately identified within the group accounts and the charitable company is exempt from presenting such a statement under s408 Companies Act 2006. 

## b) **Company Status** 

The charity was incorporated on 1 September 1993 in England and Wales and is limited by the guarantee of its members. Its registered address is West Hill House, 32 West Hill, Epsom, KT19 8JD. 

The members of the company are the Members of The Board named on page 3. 

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity 

## c) **Fund Accounting** 

Unrestricted funds comprise those funds, which are available for use at the 

20 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Accounting Policies (continued) 

discretion of the Trustees in furtherance of the objectives of the charity and which have not been designated for other purposes. 

## d) **Incoming Resources** 

All incoming resources are included in Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable probability. For the member pledges, this translates to recognition at the point of invoices raised. The majority of the remainder of the Charity’s income is ‘pure’ donations, which are recognised on receipt. 

## e) **Resources Expended** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 

## f) **Donated Products** 

The charity relies on the donation of suitable cosmetic products by various cosmetics companies for use by the charity’s beneficiaries. 

The products have been valued at approximate wholesale value using the market average retail price as reported by the Cosmetic, Toiletry and Perfumery Trade Association. Due to stocks of these products being kept in hospitals it is very difficult to accurately count these at the year end, so the Trustees have chosen to value the product donations at the point of distribution. 

## g) **Donated Volunteer Time** 

The charity’s workshops are provided using donated beauty consultant time freely volunteered from companies and freelancers. 

In line with the Charity SORP the Trustees do not consider that they are able to reliably quantify and measure the value to the charity in financial terms of the volunteer time and this is not therefore included in the SOFA. 

## h) **Donated Services** 

The Charity receives donated services from a member company for the distribution of the cosmetic products to the hospital workshops. This is not a service normally provided by this company for a fee. 

However, the Trustees recognise that the scale of the Charity has grown to the extent that it would now be necessary to pay for the service if it were to lose this support and therefore have chosen to value it at the market rate which would be payable to a third party provider. 

The Charity also receives donated advertising space which assists in raising awareness of the work of the charity. No financial value is attributed to this advertising space as the advertising would not be undertaken if it was not donated. 

21 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Accounting Policies (continued) 

## **i) Tangible and Intangible Fixed Assets and Depreciation** 

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. 

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset evenly over its expected life as follows: 

- Office equipment & furniture - 5 years 

- Computer equipment - 3 years 

- Software – between 3 and 5 years 

The carrying values of tangible and intangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate the carrying value may not be recoverable. 

## j) **Pension Costs** 

The company operates a defined contribution pension scheme and has complied with auto-enrolment legislation. Contributions are charged in the SOFA as they become payable in accordance with the rules of the scheme 

## k) **Leasing Commitments** 

Rentals payable under operating leases are charged in the SOFA on a straight line basis over the lease term 

## **l) Financial Instruments** 

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

Financial assets held at amortised cost comprise cash and bank and in hand, together with trade and other debtors. 

Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors. 

Investments in subsidiary undertakings are held at cost less impairment. 

## **m) Key judgements and estimates** 

In the application of the accounting policies, Directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. 

The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

22 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) Accounting Policies (continued) 

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 if the revision affects only that period. If the revision affects current and future periods it will be recognised in the period of the revision and future periods. 

In the view of Directors, no assumptions concerning the future or estimated uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. 

## **n) Public Benefit** 

The Foundation meets the definition of a public benefit entity under the guidance issued by the Charity Commission. 

## **o) Stocks** 

Stocks are valued at the lower of cost to the Group or net realisable value. 

## **2 Donated Products and Consultant Time** 

During the year the charity received approximately 63,000 donated cosmetic product items (2019 - 290,000 items) and benefited from approximately 4,300 hours of volunteer time (2019: 18,200 hours) donated by 2,229 (2019: 2,855) beauty consultants and others (hospital contacts volunteer to organise workshops within hospitals and 116 semi- voluntary Regional Co-ordinators support the consultants at each workshop). 

This enabled the charity to run the 562 workshops. As explained in the accounting policies in Note 1, no financial value is attributed to the volunteer time in the financial statement 

23 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

## Notes to the Accounts Year ended 31 December 2020 

## **3. Resources Expended** 

|**2020**<br>**Raising Funds**<br>**Charitable Activities**<br>Gifts in Kind<br>Other<br>**Total 2020**<br>**2019**<br>**Raising Funds**<br>**Charitable Activities**<br>Gifts in Kind<br>Other<br>**Total 2019**|**Staff Costs**<br>£<br>299,909<br>-<br>395,941|**Direct Costs**<br>**Support**<br>**Governance**<br>**Total**<br>£<br>**Costs**<br>£<br>**Costs**<br>£<br>£<br>36,675<br>39,731<br>4,619<br>380,934<br>359,538<br>-<br>-<br>359,538<br>76,358<br>59,889<br>6,962<br>539,150|
|---|---|---|
||395,941|435,896<br>59,889<br>6,962<br>898,688|
||**695,850**<br>290,919<br>-<br>472,862|**472,571**<br>**99,620**<br>**11,581**<br>**1,279,622**|
|||159,878<br>35,731<br>4,335<br>490,863<br>1,521,233<br>-<br>-<br>1,521,233<br>241,461<br>66,558<br>8,074<br>788,955|
||472,862|1,762,694<br>66,558<br>8,074<br>2,310,188|
||**763,781**|**1,922,572**<br>**102,289**<br>**12,409**<br>**2,801,051**|



24 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Notes to the Accounts Year ended 31 December 2020 

## **3. (cont) Analysis of Support and Governance costs** 

|**2020 Support Costs**<br>Office rent and admin<br>IT<br>PR<br>Other<br>**Total Support**<br>**2019 Support Costs**<br>Office rent and admin<br>IT<br>PR<br>Other<br>**Total Support**|**Raising Funds**<br>**Charitable**<br>**Activities**<br>**Total Basis of allocation**<br>**£**<br>**£**<br>**£**<br>16,202<br>24,422<br>40,624 Headcount<br>20,628<br>31,094<br>51,722 Headcount<br>3,133<br>4,722<br>7,855 Headcount<br>(232)<br>(349)<br>(581)Headcount<br>**39,731**<br>**59,889**<br>**99,620**<br>**Raising Funds**<br>**Charitable**<br>**Activities**<br>**Total Basis of allocation**<br>**£**<br>**£**<br>**£**<br>13,778<br>25,666<br>39,444 Headcount<br>17,457<br>32,519<br>49,976 Headcount<br>2,253<br>4,198<br>6,451 Headcount<br>2,243<br>4,175<br>6,418 Headcount<br>**35,731**<br>**66,558**<br>**102,289**|
|---|---|



|**Governance Costs**<br>Trustees expenses<br>Audit fees<br>Legal fees<br>Other<br>**Total Governance**|**2020**<br>**2019**<br>**£**<br>**£**<br>460<br>2,470<br>8,590<br>8,380<br>813<br>1,073<br> <br>1,718<br>486|
|---|---|
||<br>**11,581**<br>**12,409**|



25 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Notes to the Accounts Year ended 31 December 2020 

## **Notes to the Accounts Year ended 31 December 2020** 

## **4. Employees** 

|**4. Employees**||
|---|---|
|Wages and Salaries<br>Social Security Costs<br>Pension costs|**2020**<br>**2019**<br>£<br>£<br>608,083<br>666,059<br>55,167<br>61,574<br>24,063<br>25,174|
||**687,313**<br>**752,807**|



Travel expenses and allowances were paid to Volunteers totalling £9,190 in the year (2019: £22,496). 

One employee received emoluments as defined for taxation purposes of between £80,000 and £90,000 in the year (2019: one between £90,000 and £100,000). The employee is a member of the defined contribution pension scheme; employers' contributions paid into the scheme in relation to this employee were £10,833 (2019: £12,056) in the year. 

There were four key management personnel in 2020, defined as those with strategic influence. These were: 

- Chief Executive 

- Finance Director 

- Director / Head of Programme Services 

- Director of Fundraising 

Between them these four key management personnel (as defined in the Trustees Report) received total remuneration packages of £235,356 (2019: 5 heads received £301,786) 

The average number of employees analysed by function during the year was: 

|Charitable Programme<br>Fundraising and PR<br>Management and Administration|**2020**<br>**No.**<br>**2019**<br>**No.**<br>9<br>9<br>7<br>7<br>5<br>5|
|---|---|
||**21**<br>**21**|



In 2020, the foundation received funding from the UK government through the Coronavirus Job Retention Scheme. 15 members of staff (10.5 average FTE) were furloughed, for varying lengths of time, between April and October (inclusive). 

In 2020, 7 members of staff were made redundant. There were no redundancy payments made during the year. 

In 2020 one trustee (2019 : one) was reimbursed for their travel and meeting expenses in relation to their activities on behalf of the foundation. In total, they incurred expenses of £460 (2019: £2,470) in the year, of which £0 remained as a creditor at year end (2019: £741). 

26 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Notes to the Accounts Year ended 31 December 2020 

## **5.Net Incoming resources for the year** 

Net incoming resources are stated after charging: 

||**2020**|**2019**|
|---|---|---|
||£|£|
|Operating lease rentals|16,524|15,614|
|Depreciation|22,857|19,870|
|Audit fees|8,590|8,380|



## **6. Intangible and Tangible Fixed Assets (Group & Parent Entity)** 

Intangible Assets 

||Intangible Assets|||
|---|---|---|---|
|||Office Furniture &||
|||Equipment|Total|
||**2020**|**2020**|**2020**|
||**£**|**£**|**£**|
|Cost:||||
|At 1 January 2020|96,025|37,032|133,057|
|Additions|17,753|17,492|35,245|
|Disposals|-|(4,285)|(4,285)|
|**At 31 December 2020**|**113,778**|**50,239**|**164,017**|
|Depreciation:||||
|At 1 January 2020|64,544|34,491|99,035|
|Charge for the year|16,307|6,550|22,857|
|Disposals|-|(4,285)|(4,285)|
|**At 31 December 2020**|**80,851**|**36,756**|**117,607**|
|**Net book value:**||||
|**At 31 December 2020**|**32,927**|**13,483**|**46,410**|
|At 31 December 2019|31,481|2,541|34,022|



27 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Notes to the Accounts Year ended 31 December 2020 

## **Notes to the Accounts Year ended 31 December 2020** 

|**7. Debtors**|||||
|---|---|---|---|---|
||**2020**|**2020**|**2019**|**2019**|
||**Group**|**Parent**|**Group**|**Parent**|
|||**Company**||**Company**|
||**£**|**£**|**£**|**£**|
|Prepayments|22,807|22,807|26,595|26,595|
|Trade Debtors|12,962|5,416|-|-|
|Accrued income|280,160|42,426|182,026|154,891|
|Amount due from subsidiary - gift aid|-|291,408|-|97,219|
|**Total**|**315,929**|**362,057**|**208,621**|**278,705**|
||||**-**||
|**8. Creditors:**amounts falling due within one year|||||
||**2020**|**2020**|**2019**|**2019**|
||**Group**|**Parent**|**Group**|**Parent**|
|||**Company**||**Company**|
||**£**|**£**|**£**|**£**|
|Trade creditors|12,250|12,250|21,033|21,033|
|Tax and social security|25,067|13,069|23,944|17,846|
|Accruals and deferred income|162,971|161,579|102,032|120,246|
|Other Creditors|48,152|46,103|-|-|
|**Total**|**248,440**|**233,001**|**147,009**|**159,125**|
|**Deferred Income**||**2020**||**2019**|
|||**£**||**£**|
|Balance at 1 January 2020||15,000||11,153|
|Amount released to incoming resources||-||(11,153)|
|Amount deferred in the year||89,000||15,000|
|**Balance at 31 December 2020**||**104,000**||**15,000**|



The deferred income of £104,000 includes £74,000 of Membership Fees in respect of 2021 and £30,000 relating to a Netball Tournament that has been postponed until 2022 due to the coronavirus pandemic. 

28 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

## Notes to the Accounts Year ended 31 December 2020 

## **9. Other Financial Commitments** 

## **Operating leases** 

At 31 December 2020 the company had commitments under non-cancellable operating leases as set out below: 

|**Amounts Due:**<br>Within 1 year<br>Within 2 – 5 years<br>Total|**Land and buildings**<br>**Other**<br>**2020**<br>**2019**<br>**2020**<br>**2019**<br>**£**<br>£<br>**£**<br>£<br>14,000<br>14,910<br>1,228<br>1,614<br> <br>13,583<br>29,386<br>1,924<br>3,152|
|---|---|
||<br>**27,583**<br>**44,296**<br>**3,152**<br>**4,766**|



All leased items are based at the Foundation's offices at West Hill House, 32 West Hill, Epsom, KT19 8JD. 

## **10. Analysis of movement in Unrestricted Funds** 

|**Current year**<br>**General Fund**<br>Designated Strategic Research<br>Total Designated Fund<br>**Total**<br>**Prior year comparative**<br>**General Fund**<br>Designated Men's Programme<br>Designated Online Tutorials -<br>teenage and women<br>Designated Strategic Research<br>Total Designated Fund<br>**Total**|**Funds**<br>**1st Jan 2020**<br>**£**<br>747,791<br>15,000<br>15,000<br>**762,791**<br>**Funds**<br>**1st Jan 2019**<br>**£**<br>688,356<br>345<br>6,974<br>15,000|Income<br>**£**<br>Expenditure<br>**£**<br>**Funds**<br>Transfers<br>**31st Dec 2020**<br>**£**<br>1,343,773<br>(1,163,826)<br>-<br>927,738<br>-<br>-<br>-<br>15,000|
|---|---|---|
|||-<br>-<br>-<br>15,000|
|||**1,343,773**<br>**(1,163,826)**<br>**-**<br>**942,738**|
|||**Funds**<br>Income<br>Expenditure<br>Transfers<br>**31st Dec 2019**<br>**£**<br>**£**<br>**£**<br>2,794,975<br>(2,742,514)<br>6,974<br>747,791<br>-<br>(345)<br>-<br>-<br>-<br>-<br>(6,974)<br>-<br>-<br>-<br>-<br>15,000|
||22,319|-<br>(345)<br>(6,974)<br>15,000|
||**710,675**|**2,794,975**<br>**(2,742,859)**<br>**-**<br>**762,791**|



## **Designated Funds** 

The planned strategic research project that was due to start work in 2020 was postponed due to the Coronavirus pandemic. This work is now planned to be carried out during 2021-2023. 

29 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

## Notes to the Accounts Year ended 31 December 2020 

## **Analysis of movement in Restricted Funds** 

|**Current year**<br>Various - Workshop Funding<br>The Julia and Hans Rausing Trust - Core<br>funding<br>**Total**<br>**Prior year**<br>Various|**Funds**<br>**Funds**<br>**1st January**<br>**2020**<br>Income<br>Expenditure<br>**31st December**<br>**2020**<br>**£**<br>**£**<br>**£**<br>**£**<br>21,561<br>37,531<br>(18,567)<br>40,525<br>-<br>208,200<br>(97,229)<br>110,971|
|---|---|
||21,561<br>245,731<br>(115,796)<br>151,496|
||<br>**Funds**<br>**Funds**<br>**1st January**<br>**2019**<br>Income<br>Expenditure<br>**31st December**<br>**2019**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,000<br>77,753<br>(58,192)<br>21,561|



## **Restricted Fund** 

In 2020 and 2019, numerous donations were received from trusts and foundations for workshops in specific locations. In addition, in 2020, the foundation received a grant from the Julia and Hans Rausing Trust to support its core operations during the Coronavirus pandemic. 

## **11. Analysis of group net assets between funds** 

|Fixed Assets<br>Cash at bank, in hand and<br>deposits<br>Net current assets<br>**Total**<br>**Prior Year**<br>Fixed Assets<br>Cash at bank, in hand and<br>deposits<br>Net current assets<br>**Total**|**General Fund**<br>**£**<br>**Designated**<br>**Funds**<br>**£**<br>**Restricted**<br>**Funds**<br>**£**<br>**31st Dec 2020**<br>**Total**<br>**£**<br>46,410<br>**-**<br>**-**<br>46,410<br>777,135<br>15,000<br>151,496<br>943,631<br>104,193<br>-<br>-<br>104,193|
|---|---|
||**927,738**<br>**15,000**<br>**151,496**<br>**1,094,234**|
||**Designated**<br>**Restricted**<br>**31st Dec 2019**<br>**General Fund**<br>**£**<br>**Funds**<br>**£**<br>**Funds**<br>**£**<br>**Total**<br>**£**<br>34,022<br>**-**<br>**-**<br>34,022<br>614,743<br>15,000<br>21,561<br>651,304<br>99,026<br>-<br>-<br>99,026|
||<br>**747,791**<br>**15,000**<br>**21,561**<br>**784,352**|
||~~30~~|





Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

## Notes to the Accounts Year ended 31 December 2020 

## **12. Investment in subsidiary** 

## **Investment in subsidiary undertaking** _£_ 

||**Investment in**<br>**subsidiary**<br>**undertaking**<br>_£_|
|---|---|
|**Cost and net book value**||
|As 1 January 2020|100|
|Additions|-|
|As 31 December 2020|**100**|



The wholly owned trading subsidiary Look Good Feel Better Trading Limited was incorporated in England and Wales (Registered Company No: 09017551) on 29th April 2014 and pays all of its taxable profits to the charity under the gift aid scheme. Its registered office is at West Hill House, 32 West Hill, Epsom, KT19 8JD. The Company carries out trading activities on behalf of the Foundation, including, but not limited to licencing the name of Look Good Feel Better Programme to commercial partners engaged in promotions which are of benefit to the Charity. 

The results for the year of the subsidiary are shown below. 

|Turnover<br>Cost of Sales/Administrative expenses<br>**Profit before taxation**<br>Corporation tax payable<br>**Profit after tax**<br>Gift aid donation to parent charity<br>**Surplus for the year**<br>**Retained earnings brought forward**<br>**Retained surplus for year**<br>Total assets<br>Total liabilities<br>**Total funds**|**Look Good Feel Better Trading**<br>**Limited**<br>**2020**<br>**£**<br>**2019**<br>**£**<br>292,838<br>111,612<br>(1,430)<br>(10,980)|
|---|---|
||291,408<br>100,632<br>-<br>(3,413)|
||**291,408**<br>**97,219**<br>(291,408)<br>(97,219)|
||**-**<br>**-**<br>**-**<br>**-**|
||**-**<br>**-**|
||306,946<br>104,626<br>(306,846)<br>(104,526)|
||**100**<br>**100**|



## **13. Related Party Transactions** 

Included in debtors of the parent charity is an amount of £288,370 (2019: £97,219) due from the fully owned subsidiary Look Good Feel Better Trading Limited 

Kenneth Green Associates, a company of which a CTPF trustee has significant control, made donations of £0 (2019: £10,850). There were no other transactions with Trustees C during the year nor balances at the year end. 

31 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

## Notes to the Accounts Year ended 31 December 2020 

## **14. Prior year comparatives** 

|**14. Prior year comparatives**|||
|---|---|---|
|**INCOME AND ENDOWMENTS FROM:**<br>Donations and legacies<br>- General donations and legacies<br>- Member Pledges<br>- Gifts in Kind<br>Other trading activities<br>Other<br>**TOTAL**<br>**EXPENDITURE ON:**<br>**Raising funds**<br>**Charitable activities**<br>**Gifts in Kind**<br>**Other**<br>**TOTAL**<br>**NET INCOME/EXPENDITURE**<br>**FOR THE YEAR**<br>Funds brought forward at 1 January<br>Funds carried forward at 31 December|**Unrestricted**<br>**Funds**<br>**£**<br>1,009,627<br>149,500<br>1,521,233<br>111,612<br>3,003|**Restricted**<br>**Total**<br> <br>**Funds**<br>**2019**<br>**£**<br>**£**<br>77,753<br>1,087,380<br>-<br>149,500<br>-<br>1,521,233<br>-<br>111,612<br>-<br>3,003|
||**2,794,975**|**77,753**<br>**2,872,728**|
||490,863<br>1,521,233<br>788,955|-<br>490,863<br>-<br>1,521,233<br>-<br>788,955|
||**2,801,051**|**-**<br>**2,801,051**|
||||
||**(6,076)**<br>**712,675**<br>**706,599**|<br>**77,753**<br>**71,677**<br>**712,675**|
||||
|||**77,753**<br>**784,352**|



32 



Cosmetic, Toiletry & Perfumery Foundation (Limited by Guarantee) 

Notes to the Accounts Year ended 31 December 2020 

## **15. List of Supporting Organisations** 

The following is a list of significant donors to the LGFB Programme in 2020. The donations may have been financial or of products, volunteer time, advertising space or other services. The Foundation would like to express its gratitude for all donations received over the period. 

## **Member Companies** 

**Arthur Edward** 

## **LVMH Group *** 

**Chanel *** 

**Clarins** 

## **Charles Worthington Salons** 

_Benefit Cosmetics Guerlain Parfums Christian Dior Parfums Givenchy_ 

**Combe International *** 

## **Morphe** 

## **Coty UK Limited *** 

## **Procter & Gamble UK *** 

Coty Prestige _Max Factor Rimmel London_ 

_Olay_ 

## **Philip Kingsley** 

## **Designer Parfums** 

## **Puig** 

## **Estée Lauder Companies *** 

## **Revlon International/ Elizabeth Arden *** 

_Aveda Bobbi Brown Clinique Crème de la Mer Estée Lauder Jo Malone Origins_ 

## **Shiseido Group*** 

_bareMinerals Buxom Laura Mercier Nars Shiseido_ 

## **FDD International** 

## **The Perfume Shop** 

## **Karium Ltd** 

## **Partner Organisations** 

**Kenneth Green Associates** 

## **La Prairie UK** 

**L’Oréal UK *** 

_Garnier Maybelline IT Cosmetics L’Oréal Paris La Roche-Posay Lancôme Luxury Designer Fragrances YSL Beauté_ Urban Decay 

**Avon Cosmetics ASOS Beauty Pro (Barber Pro) CTPA Copra Emma Hardie Skincare England Netball Grape Tree Health Foods Latest in Beauty Merkle The Orange Square Company Waitrose** 

*** Founder Members** 

33