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The Buddy Bag Foundation
CONTENTS-
Page
Report of the Trustees
Objectives and Activities
Financial Review
20
Structure. Governance and Management
24
Reference and Administrative Details
26
Independent Examiner's Report
27
Consolidated Statement of Financial Activities
28
Balance Sheets
29
Notes to the Financial Statement
30-36

The Buddy Bag Foundation
REPORT OF THE TRUSTEES
fjudd)
The trustees present their report together with the consolidated financial statements of the Buddy Bag
Foundation Ithe charityl for the year ended 31 December 2023.
The financial statements have been prepared in accordance with 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 IFRS1021 (effective l January 20191-
Icharities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021
and the Charities Act 2011.
Buddy Bag Foundation is a Charitable Incorporated Organisation ICIOI registered with the Charity Commission for
England and Wales on 17 December 2015.

The Buddy Bag Foundation
Founder's Report
My name is Karen Williams OBE. l am passionate about making a difference to the lives of others.
Where did the Buddy Bag idea come from?
During a visit to Australia in 2014, 1 was inspired by an article about the Alannah and Madeline Foundation
www.amf.or
.aul which has delivered more than 50,000 Buddy Bags to children in emergency care since 2007.
On my return from Australia, I researched the facilities available to children in emergency care in the UK and
discovered a huge need for Buddy Bags here. To ensure as many children as possible can benefit from the Buddv
Bag scheme, I set up the Live Love Laugh Foundation (which later became the Buddy Bag Foundationl and
launched the Buddy BaE appeal in the UK, with the help and support of The Alannah and Madeline Foundation.
Our goal
To restore a sense of safety and security into a child's life during a traumatic time is one of the first steps to
recovery. Buddy Bags are something a child can call their own, no matter where they go.
Tailored across a wide age range, from new born babies to teenagers, they contain all the essential items a child
needs straight away- such as toiletries, pyjamas and underwear. They also include stationery and comfort items,
including a book and a teddy bear.
We continue to deliver Buddy Bags and to help support this aim, we are looking for companies and individuals
that would like to get involved in a community project. They can do thi5 by either sponsoring Buddy Bags in their
local area, by donating funds to help pay for the items that go into the bags, or by donating their time to help fill
the bags.

The Buddy Bag Foundation
How the scheme works
Buddy Bags are funded through fundraising, sponsorship and donations. Groups of items can either be donated or
sponsored. Individual volunteers, or companies looking for community projects to support, can meet at venues
throughout UK every fortnight to help fill the back packs.
We are committed to 100% of the monies raised Eoing into the supply of Buddy Bagsl
Most of our services are supplied by companies who have chosen us as their Charity of the Year and donate some
of their services free of charge.
2023 has been an amazing year for the Buddy Bag Foundation. We have delivered 8,774 Buddy Bags in 2023
18,590 in 20221, making a difference to 8,774 children. We are proud to have delivered a total of 57,782 Buddy
Bags, hosted 314 Buddy Bag Brigades and engaged with 4,840 volunteers in the period since formation to 31
December 2023.
We continue to make full use of ovr BBF HQ kindly donated to us by Graham Johnston, a local Business owner in
Minworth Sutton Coldfield. This generous donation has not only afforded us the base we so desperately needed
but has also ensured that we have the facility to pack bags, have sufficient storage and the luxury of being able to
buy items in bulk and lower costs.
Our Team Building Events have been in demand too, Amazon, TPN, Ashurst and Hootsuite, Places for People to
name a few have all held events as part of their Corporate Social Responsibility programs.
Thank you to all our volunteers and supporters for supplying
our"Bags of Love" to children in emergency care together we
have achieved and are continuing to achieve something truly
special. Thank you to all our volunteers and supporters
together we have achieved and are continuing to achieve
something truly special.
Karen Williams OBE Co-Founder and CEO
Co- Founder and Trustee
The Queen's Award
for Voluntary Service

The Buddy Bag Foundation
What is a Buddy Bag?
A Buddy Bag is a backpack that contains all the essential items a child needs. They include toiletries, pyjamas and
underwear. They also include comfort items such as a book and a teddy bear. A Buddy Bag is something a child
can call their own, no matter where they go.
All the items going into the Buddy Bags are new. This has several benefits ranging from helping the children
receiving the bags to bolster their self-esteem, through to simplifying the process involved in hosting a Buddy Bag
Brigade.
Each Buddy Bag costs the charity about £25.
How do Buddy Bags getto the children?
Buddy Bags are donated to women's refuges all over Great Britain. Each refuge receives 30 Buddy Bags at a time.
The Buddy Bags are tailored to suit babies, children and young people, according to the needs of different age
groups and genders.

The Buddy Bag Foundation
What is a Buddy Bag Brigade?
A Buddy Bag Brigade is ar) event which brings around 20 volunteers together for two hours, working together to
pack 180 Buddy Bags. The packed bags are delivered to six women's refuges. Where possible, Buddy Bags are
distributed locally, but the charity works to support women's refuges all over Great Britain.
These brigades are a great team building opportunity. Many organisations engage in fundraising activities and
then host their own Buddy Bag Brigades.
The charity is committed to positively influencing the local communities in which we live and work.
BNI
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LQE

The Buddy Bag Foundation
Corporate Social Responsibility
The Charity engages with employers, demonstrating how partnering with the Buddy Bag Foundation can help
impact Corporate Social Responsibility policies, and positively support their local community.
With the opportunity to fundraise, whether through bake sales or bike rides, and volunteer with a Buddy Bag
Brigade, the Buddy Bag Foundation provides great team building opportunities whilst making a difference to
children in crisis.
Public benefit
The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit during the
performance of their duties.

The Buddy Bag Foundation
Achievements and Performance
During the year ended 31 December 2023..
2023
2022
Formation to 31" Dec
2023
Buddy Bags Distributed
8,774
8,590
57,782
Number of Buddy Bag
Brigades
Number of Volunteers
Engaged
Women's Refuges
Supplied
49
48
314
490
505
4,840
292
286
350
Buddy Bags distributed in 2023
60,000
320
58,000
310
56,000
54,000
52,000
270
¢U 50,000
260
48,000
250
46,000
240
Jan-24 Fe￿21 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Au8-23 Se*23 Oct-23 Nov-23 Dec-23
Buddy Bags to date
Buddy Bag Brlgades to date

The Buddy Bag Foundation
Buddy Bag Brigades
Regularly Buddy Bag Brigades have been held at Lichfield, Tamworth and Sutton Coldfield.
Thanks to the work of volunteer Ambassadors and to groups and employers, in 2023 Buddy Bag Brigades have
been held in Birmingham, the West Midlands, York , North Wales, Rugby, London and Essex.
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Fundraising and donations
Individuals, groups and companies are the lifeline of The Buddy Bag Foundation. Together they have helped to
achieve total income of £297,813 12022.. £307,8881.
The Charity is active in bidding for funding and during this period has been successful in securing funding from
different sources including supermarkets and various groups.
Our campaign to receive hand knitted toys, handmade toiletry bags and pencil cases has continued to be very
popular during 2023. Numerous groups throughout the UK making a difference to children by donating these
items gives them a purpose too.

The Buddy Bag Foundation
Patrons and Supporter
Our Patrons are Olivia Hill, Molly Windsor, Jess Phillips MP and Supporter Dr. Hilary
Jones.
Ambassadors
We now have a number of Ambassadors nationwide Ifor example= York, Essex, Cardiff, North Wales, South Wales
and Rugby) who are flying the flag of BBF.
With a supportive team of volunteers their goal is to raise £4,5(x) in their community to host their own Buddy Bag
Brigade in their area. We will continue to recruit more Ambassadors.
Volunteers
We have engaged with over 4840 volunteers since formation to 31 December 2023. Our volunteers support us in
lots of different ways,. at our Buddy Bag Brigades by donating two hours of their time,. at our fundraising events
and we have lots of volunteers that knit cuddly toys, toiletry bags and pencil cases for our Buddy Bags.
We were delighted to have been awarded the Queens Award for Voluntary Service in 2022. Receiving the award
at Buckingham Palace. Volunteers Rachel Boardman and Amy Williams.
We thank you. If you are interested in joining our Team- Volunteer Now!
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budd ba
foundation.co.uk
volunteer

The Buddy Bag Foundation
BBF Awards
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IOLii ILiation
*Awards 2023
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'ILI
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OFThEYE•AAWAYD
BBF Annual Awards held at Shenstone Village Hall held in Sept 23 to celebrate our Volunteers, Ambassadors and
Supporters.
2023 winners
Volunteer of the Year
lane Probert
Ambassador
Katie Leedham, Be More Roar
Going the Extra Mile
Image on Food, Gemma Williams (Gingerbread Warriors)
Top Fundraiser
The Pallet Network
CSR
Places for People
Making a difference Award
MarkTonks IThe Long Walk Homel
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The Buddy Bag Foundation
Fundraising events
We would like to thank all our supporters for their support during 2023.
Lots of individuals and groups raised funds such as walks, golf and hiking.
Here is our simple A-Z list of fundraising ideas
https'.l/buddybagfoundation.co.uk/fundraise/
Ji.1
Awards received
31st December 2020- Karen Williams, Co-Founder was awarded an OBE for her Services to Domestic Violence.
li

The Buddy Bag Foundation
20th October 2022
We were delighted to recognise over 40(X) Buddy Bag volunteers by receiving the Queens Award for Voluntary
Service awarded as part of the Queens Jubilee and presented at Birmingham Hippodrome by the Lord Lieutenant.
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*1
The Queen's Award
for Voluntary Service
12

The Buddy Bag Foundation
Partnering with Buddy Bag Foundation
2¢
Corporate Social Responsibility or CSR, centres around embracing and
giving back to your local community. Companies throughout the UK are
reaping the benefits of making a difference and engaging with their
local causes, plus raising their profile whilst doing so.
So, why should you get involved with The Buddy Bag Foundation?
You can make a positive impart in YOUR area
IOO¥o of money raised goes directly back into local
communities.
> You can join us for one of our upcoming Budd Ba
Bri
ades
Creates fantastic exposure for your brand
What better way to strengthen your brand by associating with a worthwhile cause?
> We have the incredible support of our star Patrons
Strengthens relationships with your customers
> By supporting your local community, this will have a huge positive impact on your customer
relationships, showing them you care.
Our social presence is felt within the community and online via our social media channels Facebook
Twitter and Insta
Encourages employee engagement and attracts potentlal employees
> In helping local causes, it will make your company desirable to potential employees and your current
employees will be proud to be giving something back.
> You can view case studies from the companies we have worked with through our Corporate
Partnerships here
Enhances client relationships
> lust like your employees, giving back to your local community shows you in an extremely positive light
to your client base.
Visit our Postcard aller
to see why our Buddy Bags are loved so muchl
Helps to build your team, boosting self-improvement for all
Playing a vital part in our bag pack events helps communication, compassion and self-fulfilment for the
whole team.
> Our Budd Ba
Bri
such a difference I
ade events welcome all ages & abilities, showing how working together can make
13

The Buddy Bag Foundation
Our current partners include.. Utility Warehouse, Gowling, Amazon, Trowers and Hamlins, The Pallet Network,
Places for People, Wells Fargo, Hootsuite and Honeywell.
For further detail on how you can be part of our CSR Team Building initiative please see
htt
budd ba
foundation.co.uk
csr
Supporter ofthe Month
Hoot5ulte
14

The Buddy Bag Foundation
Corporate Suppliers
In May 21 The Howell Group donated BBF a HQ space to accommodate a Buddy Bag Packing section, Storage
facilities and kitchen. All services irbcluded.
This professional facility gives BBF the status of having a dedicated HQ as a
registered office. It allows BBF to keep a stock of items in case of disrupted
deliveries. Buddy Bags can also be kept in stock. Also providing a home for the
dedicated team of volunteers.
HOWELL
Updated Refuge Database
BBF can now take orders for Buddy Bags based on the needs of the Women's
Refuge and deliver accordingly. This has made a massive difference to the
service BBF can now supply our end users.
It has also meant that we are able to increase the number of items we purchase generating lower purchase
prices. We are extremely grateful for the Howell Group for donating and sponsoring this space.
Thank You to our Corporate Supporters of donations that help reduce the cost of our Buddy Bags.
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budd ba
oundation.co.uk
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orters
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THE MONTH
15

The Buddy Bag Foundation
Buddy Bag Foundation Angels
It is thanks to the benevolence and generosity of our Angels, whose financial ass1Stance and support ensures the
long term sustainability and continuation of the Buddy Bag Foundation.
By providing support to fully develop processes and systems which not only increase reliability and growth but
ensure the foundations long term future
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budd ba
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BBF Angel
16

The Buddy Bag Foundation
What's New!
2023 celebrated the launch of our Buddy Bag Foundation Pyjamas.
At Buddy Bag Foundation, we believe that every child deserves to be loved- Our Branded '1 am loved" Pyjamas
and branded pants and vests are now included in all our Buddy Bags.
We have also opened a Shopify Shop which is promoted on our web site and social media pages- We are selling
BIGI Pyjamas and Buddy Bears. For every item purchased we will donate the same item to a Buddy Bag. Making
difference to children in emergency care.
BBF Rucksacks
Orange and Purple rucksacks have been sourced and supplied in 2023 with a saving of nearly 40%. Local
philanthropist committed to sponsoring the rucksacks. Very much appreciated.
Celebration of our 50,000 Buddy Bag
April 23 Buddy Bag Foundation celebrated their SO,￿0 Buddy Bag at Shenstone Village Hall. We were joined by
the Lord Lieutenant John Crabtree who packed Buddy bags with the volunteers.
17

The Buddy Bag Foundation
M indful ness knitting in the workplace
Amazon introduced knitting in the workplace as a mindfulness activity. The completed knitted Buddy Bear
donated to BBF.
Gameley Games
Gamely kindly donated 944 @£12.99 each - £12,262
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18

The Buddy Bag Foundation
Testimonials
We continue to receive "Thank You" cards from the children who receive our Buddy Bags.
"What I love about my Buddy Bag is ,
hank you so much for tke
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bags. we really
your generosity,
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th•ir littl• fac•s is pricg1•ss..'
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19

The Buddy Bag Foundation
Financial Review
Total Donations Received 2023: £242,700
Donations from indwiduals
Donations from companies
Donations from groups
Donations at events
GiftAid
Donated goods, services and facilities
£18,070
£13,285
£519
The Charity has received increased donations on 2022 levels with donated goods and services seeing the biggest
rise with additional restricted donations received for networking costs. Donations from individuals were
boosted by very generous donations towards the purchase of Buddy Bag Rucksacks.
Income from donations and leBacies increased by £17,54317.79%1 from £225,157 in 2022
to £242,700 in 2023.
Cash donations of £124,46512022'. £174,706) were received from individuals 55%, companies 20%, groups 14%,
and Gift Aid claimable on donations IIYO.
Donations received included:
Groups
Freemasons
£3,800
Rotary
£1,250
Consilient Health Group
£2,500
Companies
Quilter Foundation
£4,500
Sydney Mitchell
£1,940
These amazing results reflect the consistent effort made by the ambassadors, supporters and trustees.
20

The Buddy Bag Foundation
Donated goods, professiona I services and donated facilities
The Charity is very grateful for the generous donations of goods, professional services arbd facilities It has
received.
We continue to see an increase in volunteers knitting toys and sewing toiletries bags and pencil cases. This year
donations of Eoods, services and facilities totalled £118,23512022.. £50,450), a increase of £67,785, more than
double last year.
Non-cash donations received this year include..
Knitted toys and other goods received for Buddy Bags
£76,289
Other donated services
£24,066
Storage Facilities
£2,880
Venue for BBF, Minworth
£15,000
We thank the hundreds of volunteers who have each donated a few hours of their time to support the Buddy
Bag Brigades, and the many volunteers who generously hand knit so many cuddly toys and make toiletry bags
and pencil cases.
We are Erateful to all the organisations and individuals who generously sponsored and donated their
professional services and venues.
Together, our work becomes possible.
As stated in the accounting policy note I, donated goods, donated professional services and donated facilities
are recognised as income in the Consolidated Statement of Financial Activities. The general volunteer time of
the volunteers attending Buddy Bag Brigade events and other events is not recognised.
Other trading activities
Other trading activities comprise income from online fundraising events, workshop team building events and
sales of toys.
November 2022 we launched our Shopify Sales Site. Selling our BBF branded "l am Loved" Pyjamas, Buddy Bear
and "Buddy Book" written by Laura Ewers and donated to BBF lall profits donated to BBFI-
The Pyjamas and Buddy Bear are promoted on a BIGI basis. BBF donates a pair of Pyjamas or Bear to a child in
emergency care.
Sales of teambuilding workshops totalled a massive £50,88612022= £77,296).
21

The Buddy Bag Foundation
Expenditure
Expenditure on raising funds totalled £33,22112022.. £10,170). Unrestricted expenditure of £1,451 consisted of
processing charges on income received. The balance of £31,770 was for restricted donated networking costs of
£22,260, social networking costs and advertising of £5,726 and website design of £3,784 .
Expenditure
Support cDstS
39,327
£24,171
Direct costs
206,644
£223,786
Raising funds
33,221
£10,170
so,000
loo,000
150,000
200,000
250,000
2023 ll 2022
Cost of Buddy Bag Brigades 2023: £206,644
Other direct costs
£1,854
£13,816
Delivery charges
£8,420
£11,094
Donated materials for Buddy Bags
£29.986
Materia15 purchased for craft boxe5
£0
£15
Materials purchased for Buddy Bags
£168,875
20,000 40,C)CO 60,000 80,000 100,000 120.000 140,000 160,000 180,OOD
2023 w 2022
Buddy Bag Brigades are the events at which Buddy Bags are crafted. The 8,774 Buddy Bags this year12022.. 8,590
8uddy Bags) cost £206,64412022-. £223,786) to produce, a decrease of £17,14217.7%1 as a result of more
donated goods from our wonderful supporters.
Karen Williams OBE has been successful in sourcing the materials purchased for Buddy Bags at reduced cost.
This is a continuous process to ensure reliability of deliveries and consistent quality of the items whilst ensuring
value for money.
Support costs totalled £39,32712022'. £24,171) of which £239 were covered by restricted funds. The expenditure
from unrestricted funds of £39,088 mainly comprised administrative services £1,837, printing £6,354. donated
22

The Buddy Bag Foundation
storage costs for the materials before they are used in Buddy Bag Brigades of £2,880, other storage costs of
£5,552, donated venues for Buddy Bag Brigades of £15,000, team building event costs of £7,026 and insurance
of £439. Expenditure from restricted f unds comprised bank charges of £239.
Restricted funds and angels
Restricted funds donations to the Charity are specifically designated to cover the administration costs. In 2019 a
new program of Angels was successfully launched. The Angels make their donations specifically as restricted
funds to cover the administration costs. This resulted in cash donations of £4,10012022'. £2,9001.
Financial position
The Trustees are very satisfied with the financial position as at 31 December 2023. The charity had £240,301 at
the bank12022.' £228,6851-
The charity aims to hold unrestricted cash reserves sufficient to fund a minimum of nine months of Buddy Bag
Brigades. This is calculated as if the charity had to buy all facilities, goods and services at market values. This
policy is regularly reviewed by the Trustees. At 31 December 2023, the unrestricted cash at bank was in excess
of this minimum.
Financial prospects
The charity is in an excellent financial situation,. with sufficierbt cash to finance ongoing supplies of buddy bags.
The income of the charity has intreased and the Charity hopes to continue on this upward trend to be able to
supply as many Buddy Bags as we can to ref uges as the demand has sadly not declined.
th
Financial Reserves policy (agreed by the Trustees on 14 April 20241
'Reserves" refer to the financial resources set aside by the Buddy Bag Foundation to address unforeseen
challenges, capitalise on opportunities and maintain the organisation's ability to fulfil its mission over the
long term. Reserves may include unrestricted, Board of Trustees designated, Strategic and restricted
funds as applicable.
The objectives of maintaining reserves include..
Mitigating financial risks and uncertainties
Providing financial flexibility to respond to emergencies or unforeseen circumstances
Ensuring the sustainability and continuity of ad-hoc programs and core services
Facilitating strategic investments and long-term planning
2. The Trustees have agreed to aim for Unrestricted reserves of £225,00019000 bags @ £25 per bag) and
Restricted reserves of £24,75019 months @ £2,750 per monthl
3. The Finance Sub Committee will investigate options and potential partners for building Strategic Reserves
in line with the future strategv
23

The Buddy Bag Foundation
Structure, Governance and Management
Governing document
The Buddy Bag Foundation is a Charitable Incorporated Organisation governed by its Constitution amended on 3
March 2018. It is registered with the Charity Commission in England and Wales, registered number 1164916.
Appointment of trustees
Trustees are appointed for a term of one year by a resolution passed at a properly convened meeting of the
Charity trustees.
In selecting individuals for appointment as a Charity trustee, the Charity trustees must have regard to the skills,
knowledge and experience needed for the effective administration of the CIO.
Trustee induction and training
New trustees receive a copy of the current version of the constitution and the latest Trustees, Annual Report
and Unaudited Financial Statements.
The CEO gives individual induction to new trustees, informing them about the work of the Foundation, the
expectations of the board and the decision-making processes.
Trustees and advisory board members are expected to provide evidence of relevant GDPR training within half a
year of joining the board.
Trustees and advisory board members provide evidence of their DBS certificates every few years.
Organisation
The Constitution provides for a maximum number of 12 trustees serving on the board of trustees, which
administers the charity. The board of trustees meets between four and six times per year.
From its members, the board of trustees nominates a Chairman, a Chief Executive and a Treasurer, who manage
the day-to-day operations of the charity.
The board of trustees is supported by an advisory board, who provide additional advice and expertise. They
make non-binding recommendations to the board of trustees. Members of the advisory board are appointed by
the board of trustees, who also have the authority, in its sole and absolute discretion, to remove any member of
the advisory board at any time for any reason.
The Foundation does not have any employees and it does not provide any remuneration to any of its trustees or
advisory board members.
24

The Buddy Bag Foundation
Subsidiary company
Under the law of England and Wales, charities may engage in some types of trading, subject to restrictions.
To enable additional fundraising activities, (for example running fundraising balls and providing events on a
commercial basis to businesses), on 8 lune 2018 the Trustees incorporated The Buddy Bag Ltd as a wholly
owned subsidiary company limited by shares incorporated in England and Wales.
Related parties
Live Love Laugh Limited generously makes donations to the Charity which are specifically designated to cover
the administration costs. Live Love Laugh Limited is controlled by Karen Williams OBE (Trustee) and Chris
Williams (Advisory Board Member).
Karen Williams OBE (Trusteel and Chris Williams (Advisory Board Member) are the parents of Harry Williams
ITrusteel. The Charitws internal processes and procedures ensure that duties are segregated appropriately to
trustees outside the Williams family.
25

The Buddy Bag Foundation
Reference and Administrative Details
Charity registered number:
Registered address:
1164916
Unit 28 Maybrook Road
Maybrook Business Park
Minworth
Sutton Coldfield
B76 IAL
Trustees The trustees serving during the year ended 31 December 2023 and since the year end were as
follows..
Date appointed/resigned as Trustee
Chairman
CEO
D M Whitbrook
KS WilliamsOBE
S Hinds
L Lomas
Treasurer
Resigned 0110812023
Trustees
D M Fielding
P Tranter
H E Williams
S Mccarthy
J Hood
D Tyrell
J Lunn
Resigned 10/1212023
Resigned 3104/24
Resigned 1210812023
Advisory board
The advisory board members servinE during the year ended 31 December 2023 and since the year end were as
follows..
Advisory Board
C M Williams
By order of the board of trustees on
IhtT)b
28 Oct 2024
And signed on its behalf by..
D M Whitbrook (Chairman)
26

The Buddy Bag Foundation
Independent Examiner's Report to the Trustees of The Buddy Bag Foundation Ilhe Group'l
I report to the charity trustees on my examination of the consolidated accounts of the Group comprising The Buddy
Bag Foundation I'the Chairty'l and its subsidiary undertakings for the year ended 31 December 2023 which are set
out on pages 28 to 36.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the consolidated accounts of the Group in
accordance with the requirements of the Charities Act 2011 I'the 2011 Act'l and you have chosen to prepare
consolidated accounts for the Group. You are satisfied that the accounts of both the Charity and the Group are not
required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the consolidated accounts. I have carried out my examination under
section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity
Commission under sectiorb 14515llbl of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and
consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The
planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
Consequently l express no opinion as to whether the consolidated accounts present a 'true and fair, view and my
report is limited to those specific matters set out in the independent examiner's statement.
Independent examlner's statement
Since the Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145
of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the
Association of Certified Chartered Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect=
accounting records with respect to the Trust were not kept as required by section 130 of the 2011 Act and
with respect to its subsidiaries were not kept as required by section 386 of the Companies Act 2(K)6,' or
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the applicable requirements toncerning the form and content of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a 'true and fair view which is not a matter considered as part of an independent examination-
or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021.
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed
A4,-&11.
28 Oct 2024
Michelle Vincent FCCA
Fruition Accovntancy Limited
Unit 4 Three Spires House, Station Road, Lichfield W513 6HX
27

The Buddy Bag Foundation
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2023
2022
Note
INCOME
Donations and legacies
197,828
44,872
242,700
225,157
Other trading activities
51,544
51,544
81,677
Investment income
3,569
3,569
1,054
Total income
252,941
44,872
297,813
307,888
EXPENDITURE
Raising funds
1,451
31,770
33,221
10,170
Charitable activities
Direct costs
Support Costs
188,444
39,088
18,200
239
206,644
39,327
223,786
24,171
Total expenditure
228,983
50,209
279,192
258,127
NET INCOME/IEXPENDITUREI
23,958
15,3371
18,621
49,761
RECONCILIATION OF FUNDS
Total funds brought forwards
206,346
23,836
230,182
180,421
Total funds carried forwards
230,304
18,499
248,803
230,182
The notes form part of these financial statements
28

The Buddy Bag Foundation
BALANCE SHEET AS AT 31 DECEMBER 2023
Group
Charlty
2023
2022
2023
2022
Note
io
FIXED ASSETS
Intangible Assets
Investment
170
170
100
IQK)
loo
Total fixed assets
170
100
270
loo
CURRENT A55ETS
Stock
Debtors
Cash at bank and in hand
3,808
6,817
240,301
4,767
7,098
228,685
3,808
6,379
213,551
4,767
6,480
189,820
li
Total current assets
250,926
240,550
223,738
201,067
Creditors falling due within one year
12
12,2931
110,4681
111,0521
110,7601
Net current assets
248,633
230,082
212,686
190,307
NET ASSETS
248,803
230,182
212,956
190,407
FUNDS OF THE CHARITY
Restricted income funds
Unrestricted funds
13
13
18,499
230,304
23,836
206,346
18,499
194,457
24,207
166,200
TOTAL CHARITY FUNDS
248,803
230,182
212,956
190,407
The f inancial statements were approved by the Board of Trustees on 28 Ocl 2024 and were signed on its behalf
by=
D M Whitbrook Ichairmanl
The notes form part of these financial statements
29

The Buddy Bag Foundation
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
l Accounting policies
al Basis of preparing the financial statements
The financial statements have been prepared in accordance with 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 IFRS1021 (effective l January 20191-
(Charities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021
and the Charities Act 2011.
The Buddy Bag Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
policy notelsl.
bl Group financial statements
These financial statements consolidate the results of the charity and its wholly owned subsidiary The Buddy Bag
Ltd on a line-by-line basis. Transactions and balances between the charity and its subsidiary have been
eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the
notes to the charity's balance sheet.
cl Going concern
The Trustees consider that there are no material uncertainties about the charivs ability to continue as a going
concern.
The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within
the next reporting period.
dl Income
Donated goods, donated professional services and donated facilities are recognised as income when the charity
has control over the item, any conditions associated with the donated item have been met, the receipt of
economic benefit from the use by the charity of the item is probable and that economic benefit can be
measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the volunteers
attending Buddy Bag Brigade events and other events is not recognised. Refer to the trustees, annual report for
more information about their contribution.
On receipt, donated goods, donated professional services and donated facilities are recognised on the basis of
the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain
services or facilities of equivalent economic benefit on the open market- a corresponding amount is then
recognised in expenditure in the period of receipt.
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
30

The Buddy Bag Foundation
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. Grants offered subject to conditions which have not been met at the year end date are noted as a
commitment but not accrued as expenditure.
fl Fixed Assets- Intangible Assets
Intangible Assets are recognised at cost less accumulated amortisation and any impairment.
gl Investments
Investment in the subsidiary company is valued at cost less provision for impairment.
h) Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised
cost usin8 the effective interest method, les5 provision for impairment. A provision for the impairment of trade
debtors is established where there is objective evidence that the charity will not be able to collect all amounts
due according to the original terms of the receivables.
jl Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
kl Trade creditors
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if there is no unconditional right at
the end of the reporting period to defer settlement of the creditor for at least 12 months after the reporting
date. If there is an unconditional right to defer settlement for at least 12 months after the reporting date, they
are reported as non-current liabilities.
11 Taxation
The charity is exempt from tax on its charitable activities.
ml 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.
31

The Buddy Bag Foundation
2 Income from donations and legacies
Total
Funds
2023
Total
Funds
2022
2023
percent of
total
Unrestricted Restricted
Funds
Funds
Percent
change
Change
Donations from indivlduals
Donations from companies
DonatlQn5 from groups
Donations at events
Gift Aid
Donated goods, services and facilitie5
49,898
20,393
18,070
519
13,285
95,663
18,200
4,100
68,098
24,493
18,070
519
13,285
118,235
46,752
82,808
37.131
63
7,953
SO,450
28.1%
10.1%
7.4%
0.2%
5.5%
48.7%
21,346
158,3151
119,0611
456
5.332
67,785
45.7%
70.4%
51.3%
723.8%
67.0%
134.4%
22,572
197,828
44,872
242,700
225,157
ioo.o%
17.544
7.8%
Cash donations onlv
102,165
22,300
124,465
174,707
150,2411
3 Other trading activities
Total
Funds
2023
Totsl
Funds
2022
2023
Unrestricted Restricted
Funds
Funds
percent of
total
Percent
change
Change
Bids
Sales of 8uddy Bear toys
Fundraising events
Sales of workshops and team building
events
0.0%
l.B%
0.0%
0.0%
62.4¥.
658
658
1,750
2,631
11.0921
12,6311
ioo.o%
50,886
50,886
77,296
98.7%
126,4101
34.2%
51,544
51,544
81,677
ioo.o%
130,1331
36.9Y
4 Raising f unds expenditure
Total
Funds
2023
Total
Funds
2022
2023
percent of
total
Unresrritted Restricted
Funds
Funds
Percent
change
Change
Processing charges on Income received
Just Giving rnembership fee
Admin service costs
Fundraising event expenses
Web51te and promotional expenses
1,376
1,376
1,034
351
139
91
8,555
4.1%
342
13511
11391
33.0%
ioo.o%
LOO.0%
17.6Y.
271.4%
75
75
31,770
0.3%
95.6%
31,770
23,215
1,451
31,770
33,221
10,170
LOO.0%
23,051
226.6%
32

The Buddy Bag Foundation
5 Cost of charitable activities
Total
Funds
2023
Total
Funds
2022
2023
percent of
total
Unrestricted Restricted
Funds
Funds
Percent
change
Change
DIREcf COSTS
Materials purchased for Buddy Bag5
Materi315 purchased for craft boxes
Donated materials for Buddy Bags
Delivery charges
Other direct costs
101,881
18,200
120,081
168,875
15
29,986
11,094
13,816
58.1%
148,7941
28.9%
ioo.o%
154.4%
24.1%
86.6%
76,288
8,420
1,855
76,288
8,420
1,855
36.9%
4.1%
0.9%
46,302
12,6741
111,9621
Cost of Buddy Bag Brlgades
188,444
18,200
206,644
223,786
ioo.o%
117.1421
7.7%
Total
Funds
2023
Total
Fund5
2023
percent of
total
Unrestricted Restricted
Funds
Funds
Percent
change
2022
Change
SUPPORT COSTS
storage costs
Storage facilities donated
Adrninistr3tive service5
Insurance
Donated services received and venues for
trustee meeting5
Donated premises for Head Office
Other support costs
5,552
2,880
666
439
5,552
2,880
666
439
14.1%
7.3%
1.7%
1.1%
5,552
ioo.o%
0.0%
35.1Y.
39.5%
2,880
1,027
726
13611
12871
500
15,000
14,051
500
15,000
14,290
1.3%
38.1%
36,4%
500
ioo.o%
0.0%
214.9%
15,000
4,538
239
9,752
Support costs
39,088
239
39,327
24,171
ioo.o%
15,156
62.7%
Total charitable 3Ctivitie5 expenditure
227,532
18,439
245,971
247,957
11,9861
o.sY.
Included in Other Support Costs are the
following..
GOVERNANCE COSTS
IndÈpendent Examiners Fee
600
600
600
100.0%
0.0%
6 Trustees, remuneration and benefits
The Charity Trustees were not paid nor received any other benefits from employment with the charity in the
year12022.' £nill.
Trustees, expenses
As part of fundraising activities, the charity and its subsidiary company have sold team-building workshops to
businesses. Trainers and facilitators have been engaged to deliver these fundraising activities, which included 2
of the Trustees. Trustees, expenses represent the cost of delivering these workshops, including travel and
subsistence costs totalling £7,753 for 2 Trustees12022: £5,159) plus other reimbursed expenses of £136
33

The Buddy Bag Foundation
7 Investment in subsidiary
The charity holds 100 shares of £1 each in its wholly owned trading subsidiary company The Buddy Bag Ltd
which is incorporated in England and Wales. These shares are allotted, called up and fully paid. The company is
going to be used for non-primary trading activities. Available profits are gift aided to the charity under a deed of
covenant. A summary of the results of the subsidiary is shown below..
2023
2022
Net operating income
35,846
39,731
Net profit
Amount gift aided to the charity under Deed of Covenant
Retained in subsidiary
35,846
135,8461
39,731
139,7311
The assets and liabilities of the subsidiary were..
31 Dec 2023 31 Dec 2022
Current assets
Current liabilities
Total net assets
35,946
135,8461
loo
39,901
139,8011
loo
Aggregate share capital and reserves
loo
loo
8 Parent charity
The parent charitys gross income and results for the year are disclosed as follows..
2023
2022
Gross income
Net income
246,269
22,548
226,211
50,027
9 Stock
2023
2022
2023
2022
Stock of Buddy Bears
Other stock
3,708
loo
4,667
loo
3,708
loo
4,667
loo
3,808
4,767
3,808
4,767
10 Fixed Assets- Intangible Assets
Group
Charity
2023
2022
2023
2022
Trade Mark
170
170
34

The Buddy Bag Foundation
11 Debtors
Group
Charity
2023
2022
2023
2022
Income receivable donatior)s and Gift Aid
Prepaid expenses
Debtors
6,329
50
438
6,410
688
6,329
50
6,410
70
6,817
7,098
6,379
6,480
12 Creditors: Amounts falling due within one year
Group
Charity
2023
2022
2023
2022
Trade creditors
Accruals and deferred income
Other creditors
Payable to subsidiary company
1,351
600
342
8,128
2,340
1,351
600
342
8,759
8,420
2,340
2,293
10,468
11,052
10,760
13 Movement in funds
Current year
Atl
January
2023
At31
December
2023
Income &
Gains
Expenditure
& Losses
Restricted Funds
Unrestricted Funds
23,836
206,346
44,872
252,941
150,2091
1228,9831
18,499
230,304
Total Funds
230,182
297,813
1279,1921
248,803
Previous year
Atl
January
2022
At31
December
2022
Income & Expenditure
Gains
& Losses
Restricted Funds
Unrestricted Funds
6,394
174,027
27,835
280,053
110,3931
1247,7341
23,836
206,346
Total Funds
180,421
307,888
1258,1271
230,182
35

The Buddy Bag Foundation
Purpose of restrlcted funds
Restricted funds are donations and donated goods, services and facilities which are specifically to cover the
administration costs.
14 Analysis of Net Assets by Fund
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
Intangible fixed assets
Current assets
Creditors less than l year
170
232.427
12,2931
170
250,926
12,2931
18,499
Net assets
230,304
18,499
248,803
Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Tangible fixed assets
Current assets
Creditors less than l year
loo
216,714
110,4681
loo
240,550
110,4681
23.836
Net assets
206.346
23.836
230.182
15 Related party disclosures
Live Love Laugh Limited generously make donations to the Charity which are specifically desiEnated to cover the
administration costs. Live Love Laugh Limited is controlled by Karen Williams OBE (Trusteel and Chris Williams
(Advisory Board Memberl. During the year Chris Williams donated £250 to the charity and P Tranter (Trusteel
donated £100. Fenix Business Solutions Limited, a company in which S Mccarthy ITrusteel was a director, sold
goods to the Charity in the sum of £1,860 during the year.
The subsidiary company, The Buddy Bag Limited, was owed £8,758 by the parent, The Buddy Bag Foundation, at
31 December 2023.
36