REGISTERED COMPANY NUMBER: 04502783 (England and Wales) REGISTERED CHARITY NUMBER: SC039370 AND 1101204
REPORT OF THE TRUSTEES
AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR TIME BANKS UK
TIME BANKS UK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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|CONTENTS|Page|
|Reference and Administrative Details…..............3|
|Independent Examiner's Report…...................... 4|
|Report of the Trustees…..................................... 5|
|Statement of Financial Activities…......................8|
|Statement of Financial Position…....................... 9|
|Notes to the Financial Statements…................... 10|
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TIME BANKS UK REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025
CHARITY NAME TIME BANKS UK CHARITY NUMBER SC039370 AND 1101204
COMPANY NUMBER 04502783 (England and Wales) TRUSTEES S Fafinski I Clark (acting Chair appointed May 2025) J Francis J Li C Davis
REGISTERED OFFICE The Exchange Brick Row Stroud Gloucestershire GL5 IDF INDEPENDENT EXAMINER Nathan Grace Ltd Suite 12, 548-550 Elder House Elder Gate Milton Keynes Buckinghamshire MK9 1LR
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TIME BANKS UK INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2025
I report to the trustees on my examination of the financial statements of Time Banks UK ('the charity') for the year ended 31 March 2025.
Responsibilities and basis of report
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
…............................................................. 29/12/2025
Mr Olufemi Oyetunde(FCCA)
Nathan Grace Ltd Suite 12, 548-550 Elder House Elder Gate Milton Keynes Buckinghamshire MK9 1LR
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TIME BANKS UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repotting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019).
ACHIEVEMENTS AND PERFORMANCE Charitable activities
Our vision
A country in which there’s a time bank in every community and on every high street, connecting and valuing people, and helping to eliminate loneliness.
Our mission is…
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To support time banks by giving them resources, tools and information they need to thrive;
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To work with organisations and commissioners to engage local people in timebanking;
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To influence policymakers, local and central government to promote the advantages of timebanking.
We provide operational guidance for time banks, with our Quality Mark™ representing a model of best practice for community time banks. We specialise in person-to-person timebanking and recommend clear procedures to minimise risk for people who engage in time exchanges.
We have specialist training in place which is online to support new and existing time banks.
The first in-person national event was held in November 2024 in London bringing together time banks, partners and collaborators for the first time since 2020. There was a full programme of training, VIP speakers and networking opportunities for all attendees.
Our Trustees have regard for Charity Commission’s advice on highlighting our public benefit and impact on communities. They meet at least quarterly and ensure that all new Trustees are recruited and inducted using our internal processes.
Whilst we are an infrastructure organisation we also work in partnership to run local funded programmes which directly impacts on people with sight loss, those who are disabled and offenders.
Numbers in reflection Our data is kept by our Time Online2 platform specifically designed for time banks and regular reports from time banks that do not use the platform.
By March 2025 – cumulative hours swapped across the UK reached 6,795,029
Comparison of time bank membership which includes:
1. Individual members currently part of a local time bank
2. Organisational members currently part of a local time bank
3. Number of actual time bank exchanges over the year (irrespective of how many hours were given and received in each exchange activity)
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Data counted 1 - Members 2 - Organisations 3 -Actual exchanges
01/04/24 – 31/03/25 25,240 4,402 20,269
01/04/23 - 31/03/24 24,624 4,326 16,361
01/04/22 - 31/03/23 24,382 3,271 15,513
01/04/21 - 31/03/22 23,589 3,031 18,050
01/04/20 - 31/03/21 19,925 2,791 15,558
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Government backing
With the public acknowledgement of the benefits of timebanking and the important role Timebanking UK has to play (Time Together event November 2024) by Lord Colin Low of Dalston CBE, Rt Hon Sir Robert Buckland (former Minister for Justice) and Roz Savage MBE MP (South Cotswolds), further interest has come to the fore. New MP’s to meet and liaise with Timebanking UK include:
Stephanie Peacock MP, Minister for Sport, Media, Civil Society and Youth
Sir John Hayes MP met with Timebanking UK in Westminster in February 2025
New publications/training/app development
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4th Global Timebanking Report written by the Ibero-American Association of Time Banks “Bancos de Tiempo” dedicated this year to the UK and 25 years of timebanking
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New training workshops over 12 months which include monthly Check-in-and-Chat (CIAC) sessions for time bank brokers and volunteer co-ordinators to share experiences, challenges and successes
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Monthly Introduction to Timebanking sessions which are free to all and hosted by Timebanking UK
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• Research report on the role of digital technology for UK time banks with analysis of the TOL2 platform by Edinburgh University
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TIME BANKS UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
New partnerships, project work and income streams
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NEW Starter Kit produced to provide everything needed for an organisation or group to set up a time bank including dedicated project support time by Timebanking UK, training and platform set-up, 100 timebanking hours to print and access to all resources,
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NHS Mental Health Commissioning Team (timebanking 2 year pilot in secure mental health settings)
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Tudor Trust year 3 funding to support the stability and growth of Timebanking UK and the movement across the country
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Garfield Weston unrestricted grant to support Timebanking UK
FINANCIAL REVIEW
Timebanking UK has clear policies for sound financial management with particular emphasis on having a variety of income streams alongside our grants and trust funding. Whilst this financial year has presented many challenges, there is renewed enthusiasm to explore different ways of working, to examine our company systems and develop new skills by employing more Associates and streamlining services.
Investment Policy
Due to the relatively low level of funds available for investment, the Trustees consider that bank deposits provide a satisfactory return to the Charity.
Reserves policy
The trustees would like to target having sufficient free reserves to cover at least three months forecast operating costs. This would cover the normal fluctuations in cashflows and unexpected one-off costs and the trustees continue to prioritise the increase of reserves for the charity.
2025 and beyond
Our revised three-year strategy works towards a more sustainable economic position for TBUK, a stronger position for our time banks, and an increase in the recognition of timebanking and the value that TBUK brings to new and existing time banks.
A new app will enable the launch of the national time bank where individuals and groups can join together to swap time on a national level.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document and legal status
The Charity is incorporated as a company limited by guarantee, and therefore it has no share capital. It is governed by its Memorandum and Articles of Association dated 2 August 2002. In the event of the company being wound up and the liabilities and winding up expenses being in excess of assets, the liability of each member is limited to El.
The Charity operates as Timebanking UK and will therefore be referred to throughout this document by that name.
Organisational structure
The Charity is controlled by a Board of Trustees, which meets on a regular basis. Names of the Trustees and advisers of the Charity are listed on page 1 of these financial statements. The power to appoint new trustees is vested in surviving and continuing trustees.
Related parties
The company has no subsidiary undertakings or direct relationships with other organisations.
Risk management
The Trustees actively review the major risks that the Charity faces on a regular basis and believe that maintaining its current reserves policy, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the Charity going forward. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
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TIME BANKS UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of Time Banks UK for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law 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 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 those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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ssobserve the methods and principles in the Charity SORP;
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smake judgements and estimates that are reasonable and prudent;
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sprepare the financial statements on the going concern basis unless it is inappropriate to presume that
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the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 December 2025 and signed on its behalf by
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Ian Clark- Trustee
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TIME BANKS UK STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Notes fund INCOME AND ENDOWMENTS FROM: Charitable activities 2 52,850 Other trading activities 3 38,133 Total 90,983 EXPENDITURE ON Charitable activities 4 102,835 NET INCOME/(EXPENDITURE) -11,852 RECONCILIATION OF FUNDS Total funds brought forward 36,602 TOTAL FUNDS CARRIED FORWARD 24,750 |
Restricted funds 0 17,500 -17,500 106,500 89,000 |
31/03/2025 Total funds £ 52,850 38,133 90,983 120,335 -29,352 143,102 113,750 |
31/03/2024 Total funds £ 214,850 33,476 248,326 131,737 116,589 26,513 143,102 |
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FOR THE YEAR ENDED 31 MARCH 2025
TIME BANKS UK STATEMENT OF FINANCIAL POSITION
| 31/03/2025 | 31/03/2024 | |||
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| Total | Total | |||
| Notes | funds | funds | ||
| FIXED ASSETS | £ | £ | ||
| Intangible assets | 7 | 6,133 | 8,178 | |
| Tangible assets | 8 | 727 | 1,942 | |
| CURRENT ASSETS | 6,860 | 10,120 | ||
| Cash at bank | 118,679 | 149,492 | ||
| Debtors | 9 | 2,225 | 3,500 | |
| CREDITORS | 120,904 | 152,992 | ||
| Amounts falling due within one year | 10 | (10,235) | (9,231) | |
| NET CURRENT ASSETS | 110,669 | 143,761 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 117,529 | 153,880 | ||
| CREDITORS | ||||
| Amounts falling due after more than one year | 11 | (3,779) | (10,779) | |
| NET ASSETS | 113,750 | 143,102 | ||
| FUNDS | 12 | |||
| Unrestricted funds | 24,750 | 24,909 | ||
| Restricted funds | 89,000 | 89,000 | ||
| TOTAL FUNDS | 113,750 | 113,909 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the
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charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 December 2025 and were signed on its behalf by:
Ian Clark- Trustee
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TIME BANKS UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Taxation
As a recognised charity, the company is exempt from Corporation Tax so far as it relates to its charitable objects. It is not, however, exempt from VAT, and irrecoverable VAT is included in the cost of those items to which it relates.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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TIME BANKS UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. INCOME FROM CHARITABLE ACTIVITIES
| NHS Devon Partnership Tudor Trust Garfield Weston WCIT Allen Lane Community Fund Worshipful Company of Weavers Somerset Community Foundation Other Grants Grants received Membership income Consultancy & Training Income Interests earned Other Income 4. EXPENDITURE ON CHARITABLE ACTIVITIES Staff costs Software and website costs Travel & Subsistence Computer running costs Legal & Professional fees Amortisation Depreciation Administration expenses Telephone Interest Payable Pilot projects Training and recruitment Adverts/Promotions Premises expenses Other Total - - |
31/03/2025 £ 35,000 15,000 2,850 52,850 9,650 25,200 1,067 2,216 90,983 31/03/2025 £ 97,478 5,638 2,853 3,291 3,072 2,044 1,215 577 1,030 454 996 756 - 200 731 120,335 |
31/03/2024 £ 110,000 35,000 15,000 15,000 10,000 9,500 5,000 5,000 10,350 214,850 13,200 19,725 227 325 248,326 31/03/2024 £ 111,327 5,161 3,459 2,690 2,448 2,044 1,215 236 870 999 620 - 172 200 656 132,098 |
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TIME BANKS UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024
Trustees' expenses
Expenses of £nil (2024 : £nil) were re-imbursed to the trustees in the year.
6. STAFF COSTS
| The average monthly number of employees during the year was: Charity employees No employees received emoluments in excess of £60,000. 7. INTANGIBLE FIXED ASSETS COST At 1 April 2023 Additions At 31 March 2025 AMORTISATION At 1 April 2023 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 8. TANGIBLE FIXED ASSETS Fixtures & fittings COST At 1 April 2024 3,502 Additions - At 31 March 2025 3,502 DEPRECIATION At 1 April 2023 3,502 Charge for year - At 31 March 2025 3,502 NET BOOK VALUE At 31 March 2025 - At 31 March 2024 - |
2025 3 Office Equipment 19751 - 19,751 17809 1215 19,024 727 1,942 |
2024 3 £ 20,442 0 20,442 12,264 2,044 14,309 6,133 8,178 Totals 23,253 - 23,253 21,311 1,215 22,526 727 1,942 |
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TIME BANKS UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31/03/2025 £ Debtors 2,225 Other debtors - 2,225 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31/03/2025 £ Bank loans and overdrafts 6,680 Social security and other taxes 1,879 Creditors 1,208 Accruals 468 10,235 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31/03/2025 £ Bank loans 3,779 3,779 12. MOVEMENT IN FUNDS Unrestricted Restricted £ £ At 31 March 2024 36,602 106,500 Net Movement in Funds 11,852 - (17,500) At 31 March 2025 24,750 89,000 1 |
31/03/2024 £ 3,500 - 3,500 31/03/2024 £ 6,680 1,883 668 9,231 31/03/2024 £ 10,779 10,779 Total funds £ 143,102 29,352 - - 113,750 |
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