budd bag foun ation makin8 a difference lo children in eme14e¥ care Report of the Trustees and Unaudited Financial Statements for the yearended 31 December 2024 for The Buddy Bag Foundation
The Buddy Bag Foundation CONTENTS- Page Report of the Trustees Objectives and Activities Financial Review 21 Structure, Governance and Management 25 Reference and Administrative Details 27 Independent Examiner's Report 28 Consolidated Statement of Financial Activities 29 Balance Sheets 30 Notes to the Financial Statement 31-39
The Buddy Bag Foundation Report Of The Trustees The trustees present their report together with the consolidated financial statements of the Buddy Bag Foundation Ithe charityl for the year ended 31 December 2024. 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 IFR51021 leffective l January 20191- (Charities 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. 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 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 Buddy Bag scheme, I set up the Live Love Laugh Foundation Iwhich later became the Buddy Bag Foundation) and launched the Buddy Bag 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.
The Buddy Bag Foundation 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 this 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. 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 going 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. 2024 has been an amazing year for the Buddy Bag Foundation. We have delivered 7,603 Buddy Bags in 2024 18,774 in 20231, making a difference to 7,603 children. We are proud to have delivered a total of 65,385 Buddy Bags, hosted 370 Buddy Bag Bri8ades and engaged with 5731 volunteers in the period since formation to 31 December 2024. We would like to thank Graham johnston, a local Business owner in Minworth Sutton Coldfield who kindly donated space to the BBF HQ until September 2024. This generous donation 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. From November 2024, we moved our operation to Cathedral Products, Burntwood. Cathedral Products kindly donated their space to store BBF items and completed Buddy Bags. They kindly also offered us their fulfillment service. After a period of streamlining our operations which included changing to unisex/neutral gender knitted toys and craft items. Since January 2025 Cathedral facilitate the fulfillment of all our Team Building events and store and ship completed Buddy Bags to Women's Refuge. This has been a complete change for BBF. We would like to thank all our supporters for their time and energy during this transition period. Event our Crafters have been relocated to Walmley Social Club Idonatedl to ensure the ongoing sorting of all craft items that we receive. BBF also launched their Buddy Bag Kits Ihtt budd ba foundation.co.uk budd -ba -kits I In September 2024. The Buddy Bag Kits are a unique opportunity for businesses to support a local cause, whilst also providing a fun and engaging team building opportunity. Our Team Building Events have been in demand too, Amazon, DPD, Wells Fargo, MGAC, London Stock Exchange, Centrica, Paysafe, Mitek, Unity Bank, Eight Group B Corp, Blue Cube BIGI 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.
The Buddy Bag Foundation 1*1 The Queen's Award for Voluntary Service Karen Williams OBE Co-Founder and CEO Co- Founder and Trustee
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 Ba8 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 an 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. aL-r BNI coft ATE LPE
The Buddy Bag Foundation Corporate Social Responsibilitv f y The Charity engages with employers, demonstrating how partnerin8 Wlth 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 2024.. 2024 2023 Formation to 31 Dec 2024 Buddy Bags Distributed 7,603 8,774 55,385 Number of Buddy Bag Brigades Number of Volunteers Engaged Women's Refuges Supplied 55 49 370 973 490 5731 253 292 4(X) Buddy Bag Brigades Regularly Buddy Bag Brigades have been held at Lichfield and Sutton Coldfield Thanks to the work of volunteer Ambassadors and to groups and employers, in 2024 Buddy Bag Brigades have been held in Birmingham, the West Midlands, York , North Wales, Rugby, London and Essex. ddyba undalitsn foundati
The Buddy Bag Foundation Fundraising and donations Buddy Bags distributed in 2024 67,000 375 365 65,000 355 £ 63,000 345 X 61,000 325 59,000 305 57,000 295 285 55,000 275 53,000 265 lan-24 Feb-24 Mar-24 Apr-24 May-24 lun-24 lul-24 Aug-24 Sep-24 OCL-24 Nov-24 Dec-24 Buddy Bags to date Buddy Bag Brigades to date Individuals, groups and companies are the lifeline of The Buddy Bag Foundation. Together they have helped to achieve total income of £332,30312023= £297,8131. 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 2024. 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 5731 volunteers since formation to 31 December 2015. 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 baBS 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. CoTh8tatolAti Il
The Buddy Bag Foundation We thank you. If you are interested in joining our Team- Volunteer Nowl htt budd ba foundation.co.uk volunteer BBF Awards CCNGKATULATICN3 CCNGIATILATICNS Sacha Walley & Procurement Hub CCNGffATMTICWS * * Linda Brooks * Mikey Roberts fvT winniny vur Corporate Partner Yoar Award for winning our Making a DifferenceAward ft>rwinning our Volunteerof theYearAward CthKKATMTthS ATILATtN5 CCII Inspèttorwesley Watkins WarwickshlrÈ Freemasohs for14151ng tsU.682 andwnnin9our TopFundr4irof*YrW•I fDevDll &Cornw311 PDIICP * Sylvia Keris * Ambassador tsf the Year Award ¢o¢n91EXtra Mll•l4w4rd BBF Annual Awards held at lan Hazel Funeral Services held in Sept 24 to celebrate our Volunteers, Ambassadors and Supporters. io
The Buddy Bag Foundation 2024 winners Volunteer of the Year Linda Brooks Ambassador Sylvia Keris Going the Extra Mile Patrol Inspector Wesley Watkins Devon and Cornwall Police Top Fundraiser Masons CSR Procurement Hub Making a difference Award Mikey Roberts Fundraising events We would like to thank all our supporters for their support during 2024. Lots of individuals and groups raised funds such as walks, golf and hiking. Here is our simple A-Z list of fundraising ideas https'.//buddybagfoundation.co.uk/fundraise/ li
The Buddy Bag Foundation SCQIIAND Awards received 31st December 2020- Karen Williams, Co-Founder was awarded an OBE for her Services to Domestic Violence. 20th October 2022 We were delighted to recognise over 40CM) 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. 12
The Buddy Bag Foundation The Queen's Award for Voluntary Service 11 budd founx. •n 13
The Buddy Bag Foundation Partnering with Buddy Bag Foundation 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 engaEing 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 impact in YOUR area
100% 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 ram Encourages employee engagement and attracts potential 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 alle to see why our Buddy Bags are loved so much I Helps to build your team, boosting self-improvement for all Playing a vital part in our bag pack events helps communication, compassion and self-fuifilment for the whole team. 14
The Buddy Bag Foundation
Our BLJdd Ba such a differencel ade events welcome all ages & abilities, showing how working together can make Our current partners include.. Amazon, Places for People, Wells Fargo, London Stock Exchange, MGAC, Paysafe, DPD. For further detail on how you can be part of our CSR Team Building initiative please see htt budd ba foundation.co.uk csr dtyba TIJE Places for Peo MGAC amazon 15
The Buddy Bag Foundation Corporate Suppliers From May 21 to Sept 24 The Howell Group donated BBF a HQ space to accommodate a Buddy Bag Packing section, Storage facilities and kitchen. All services included. This professional facility gave BBF the status of having a dedicated HQ as a registered office. It allowed 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. From November 2024 BBF moved to Cathedral Fulfilment. A process of streamlining and improving all their operations. Cathedral Products now store BBF stock and provide a fulfilment service for Team Building events including the storing of completed Buddy Bags. 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 differerbce 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. Thank you to Cathedral Products for donating storage and fulfilment for the completed bags from Bag Pack to Women's refuge. Thank you to our Corporate Supporters of donations that help reduce the cost of our Buddy Bags. htt k)udd ba foundation.co.uk su orters 16
The Buddy Bag Foundation Buddy Bag Foundation Angels It is thanks to the benevolence and generosity of our Angels, whose financial assistance 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 Foundation's long term future htt budd ba foundation.co.uk our-an els ••oRS- BBF Angel 17
The Buddy Bag Foundation What's New! Buddy Bag Kits Have fun with your team. The Buddy Bag Kits are a unique opportunity for businesses to support a local cause whilst also providing a fun and engaging team building opportunity. https'.Ilbuddybagfoundation.co.uklbuddy-baB-kitsl BUDDY BAG KITS buddybag foundatlon THANKYOU! BBF Pyjamas At Buddy BaE Foundation, we believe that every child deserves to be loved- Our Branded "l 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 website 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 a difference to children in emergency care.
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The Buddy Bag Foundation Celebration of our 60,000 Buddy Bag April 24 Buddy Bag Foundation we are overjoyed to mark a significant milestone in our journey.. the distribution of our 60,OOOth Buddy Bagl To commemorate this achievement, we gathered with our dedicated volunteers and supporters for a heart-warming afternoon tea at lan Hazel Funerals Ltd. A special thank you goes out to The Mayor of The Royal Town of Sutton Coldfield, Cllr Tony Briggs who delivered a heartfelt welcome, along with congratulations. We extend our deepest gratitude to each and every one of you for your unwaverinE SUPPOrt. Together, we are making a meaningful impact in the lives of children in need. Let's continue spreading love and hopel Ji Fi 11 M indful ness knitting in the workplace Amazon introduced knitting in the workplace as a mindfulness activity. The completed knitted Buddy Bears donated to BBF. 19
The Buddy Bag Foundation Action Coach Biz X Awards 2024 We're thrilled to announce that the Buddy Bag Foundation has been awarded the 'Non Profit Business, category award at the Bizx 2024 awardsl l This recognition is a testament to the incredible work and unwavering support of our amazing supporters and volunteers. Thank you to Action Coach Anu Khanna for donating a free membership to BBF as part of their CSR. £tion COACH Ji Testimonials We continue to receive "Thank You" cards from the children who receive our Buddy Bags. 'What I love about my Buddy Bag is,,,,,,,. hankyou 50 much for the bag& wè really appr yourgenerosity. the kl oing to th gs given to all the childnwh0 came the reftjge and uta£h too. The Smile o their littlè faces is pricoless.. t rerEYvEd th ndlwa a thankyouiTh incr¢dlblew1I make dSfferencetDEheywng pèD areworkiw WI¢ See muchthought&ndcBro h90 Intol bpg ddy t05end ?v4gtsld liktotakoihis?PpthnitY thankwu for 508 th&twrll hElpth Idre . c0mn1utythj9 th15 rest5@50 tt's IhèThksttsybvr9itt tha Chrisfmésday.SOc ithnwill wak• pwikha BtsddyO1 hBnkth@vDlunt8qr5W hav0patkgdthomt.I' l)n.thankYou50muth' - C¢ventryChlldr£n so¢ÈS 66
Bg Found4ihrti$4 erfv1wchrltw.Th@Y hplp ¥T m8ryyouny thoVJQ. Poing LOtsk•ttl1hWr bAg packtng ptrKswasa'prtkge bu0[11dTendoftryt0h2IP rasgdParEntsVryInIvedith(r uwnkTnlliF5wqareantyta3[fj ofthp SthIf•£hIAthIÈd li1*d•D1Yb•• rtpp•d4p•rt. 99 20
The Buddy Bag Foundation Financial Review Total Donations Received 2024: £304,153 Donations frotn individuals £6 Donations from companies Donations frotn group5 Donations at events ,272 Gift Aid £84,1 Buddy Bag Kits Dot]ated goods, sel£e5 and tacilities £1.250 £6.959 4£31,037 £826 The Charity has received increased donations on 2023 levels with Donations from companies and Donations from groups seeing the most increase on last year. There was also a 35Yo rise in donations for restricted purposes. Income from donations ar)d legacies increased by £61,543125.32%1 from £242,700 in 2023 to £304,153 in 2024. Increased cash donations of £190,88112023.' £124,465) were received during the year. Donations received included- Groups Freemasons Rotary Sporting Bears £8,660 £1,680 £6,487 Companies Places for People MGAC LLP £20,934 £7,500 £7,500 £5,400 £4,800 Amazon C & C Management SeNices Limited Paysafe Holdings UK Limited These amazing results reflect the consistent effort made by the ambassadors, supporters and co-founders. 21
The Buddy Bag Foundation Donated goods, professiona I services and donated facilities The Charity is very grateful for the generous donations of goods, professional setvices and facilities it has received. We continue to see an interest in volunteers knitting toys and sewing toiletries bags and pencil cases. This year donations of goods, services and facilities totalled £113,27212023: £118,235), similar to last year. Non-cash donations received this year include.. Knitted toys and other goods received for Buddy Bags Other donated services Storage Facilities Venue for BBF, Minworth £74,330 £24,812 £2,880 £11,250 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 grateful 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 £21,45412023.. £50,8861. 22
The Buddy Bag Foundation Expenditure Expenditure on raising funds totalled £34,57612023'. £33,221). Restricted expenditure of £33,812 consisted of processinE charEes on income received, website expenses and donated networking costs. Expenditure 2024 Support costs £39,327 £35,618 Direct costs £206,644 £88,965 Raising funds £33,221 £34,577 50000 iooooo 150000 200000 250000 2023 ll 2024 Cost of Buddy Bag Brigades 2024: £88,965 Other direct costs 1 £1,419 £1,854 Delivery charges £9,399 £8,420 Donated materials for Buddy Bags £76.288 -£102,423 Materials purchased for Buddy Bags -£iso,000 -£ioa,000 -£50,000 £0 £50,000 £ioo,000 £15Q,000 2024 ll 2023 Buddy Bag Brigades are the events at which Buddy Bags are crafted. The 7,603 Buddy Bags this year12023'. 8,774 Buddy Bags) cost £191,388 (prior to the provision for movement of stockl12023'. £206,644) to produce, a decrease of £15,25617.4%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 BaES at reduced cost. This is a continuous process to ensure reliability of deliveries and consistent quality of the items whilst ensuring value for money. 23
The Buddy Bag Foundation Support costs totalled £35,61812023'. £39,327) of which £865 were covered by restricted funds. The expenditure from unrestricted funds of £34,753 mainly comprised administrative services £704, printing £5,446, donated storage costs for the materials before they are used in Buddy Bag Brigades of £2,880, other storage costs of £2,453, donated venue for Head Office of £11,250. and other support costs of £12,020. Expenditure from restricted funds comprised bank charges of £306 and software costs of £559. 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 £8,48312023: £4,100) from Angels. Other restricted income donations were made by companies to cover administration costs too. This amounted to £29.278 for 2024. Financial position The Trustees are very satlsfied with the financial position as at 31 December 2024. The Charity had £311,726 at the bank12023.' £240,301). Total resetves held at 31 December 2024 were £421,57412023.' £248,8031- Of this, unrestricted reserves were £376,9301£2023: £230,304) and restricted reserves were £44,64412023: £18,499). 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 2024, the unrestricted cash at bank was in excess of this minimum. Financial prospects The charity is in an excellent financial situation; with sufficient cash to finance ongoing supplies of buddy bags. The income of the charity has increased and the Charity hopes to continue on this upward trend to be able to supply as many Buddy Bags as we can to refuges as the demand has sadly not declined. th Financial Reserves policy (agreed by the Trustees on 14 April 2024} "ReseNes" refer to the financial resources set aside by the Buddy Bag Foundation to address unforeseen challen8es, 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 continue to investigate options and potential partners for building Strategic Reserves in line with the future strategy 24
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 setving 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. 25
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 fundraisinE activities, Ifor 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 Karen Williams OBE (Trusteel and Chris Williams IAdvisory Board Member) are the parents of Harry Williams (Trusteel. The Charity's internal processes and procedures ensure that duties are segregated appropriately to trustees outside the Williams family. 26
The Buddy Bag Foundation Reference and Adm inistrative Details Charity registered number: ReElStered address.. 1164916 Unit 16 Maybrook Road Maybrook Business Park Minworth Sutton Coldfield B76 IAL Trustees The trustees serving during the year ended 31 December 2024 and since the year end were as follows.. Date appointed/resigned as Trustee Chairman CEO Treasurer D. Whitbrook K Williams OBE S Hinds Resigned 715125 Resigned 31112124 Trustees D M Fielding P Tranter H E Williams J Hood D Tyrell S BillinEham K Walker Stack C Florey A Khanna E Fitzpatrick P Coughlin Ingram-Gettins Resigned 31112124 Resigned 3104124 Appointed 116124 Resigned 28/5125 Appointed 1111/24 Appointed 1111124 Resigned 1619125 Appointed 111125 Appointed 31103125 Appointed 17/10/25 Advisory board The advisory board members serving during the year ended 31 December 2024-and since the year end were as follows.. Advisory Board - C M Williams By order of the board of trustees on 3111012025 31 Oct 2025 An(J signed on its behalf by.. D Tyrell ITrusteel 27
The Buddy Bag Foundation Independent Examiner's Report to the Trustees of The Buddy Bag Foundation (Yhe Group.) I report to the charity trustees on my examination of the consolidated accounts of the Group comprising The Buddy Bag Foundation I'the Charity'l and its subsidiary undertakings for the year ended 31 December 2024 which are set out on pages 29 to 39. 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 section 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 fairf view and my report is limited to those specific matters set out in the independent examiner's statement. Indepondgnt examiner'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 2006,. or the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning 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. /pf,l-11. 31 Ocl 2025 Signed Michelle Vincent FCCA 31 October 2025 Fruition Accountancy Limited, Unit 4 Three Spires House, Station Road, Lichfield WS13 6HX 28
The Buddy Bag Foundation CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Note INCOME Donations and legacies 243,331 60,822 304,153 242,700 Other trading activities 21,877 21,877 51,544 Investment income 6,273 6,273 3,569 Total income 271,481 60,822 332,303 297,813 EXPENDITURE Raising funds 764 33,812 34,576 33,221 Charitable activities Direct costs Support costs Depreciation and Amortisation 88,965 34,753 373 88,965 35,618 373 206,644 39,327 865 io-ii Total expenditure 124,855 34,677 159,532 279,192 NET INCOME/IEXPENDITUREI 146,626 26,145 172,771 18,621 RECONCILIATION OF FUNDS Total funds brought forwards 230,304 18,499 248,803 230,182 Total funds carried forwards 376,930 44,644 421,574 248,803 The notes form part of these financial statements 29
The Buddy Bag Foundation BALANCE SHEET AS AT 31 DECEMBER 2024 Group Charity 2024 2023 2024 2023 Note FIXED ASSETS Intangible Assets Tangible Assets Investment io 153 713 170 153 713 170 li 100 966 100 270 Total fixed assets 866 170 CURRENT ASSETS Stock Debtors Cash at bankand in hand 106,232 7,215 311,726 3,808 6,817 240,301 106,232 19,075 302,417 3,808 6,379 213,551 12 Total current assets 425,173 250,926 427.724 223,738 Creditors fallinE due within one year 13 14,4651 12,2931 17,1161 111,0521 Net current assets 420,708 248,633 420,608 212,686 NET ASSETS 421,574 248,803 421,574 212,956 FUNDS OF THE CHARITY Restricted income funds Unrestricted funds 14 14 44,644 376,930 18,499 230,304 44,644 376,930 18,499 194,457 TOTAL CHARITY FUNDS 421,574 248,803 421,574 212,956 The financial statements were approved by the Board of Trustees on 3111012025 and were signed on its behalf by: 31 Ocl 2025 D Tyrell ITrusteel The notes form part of these financial statements 30
The Buddy Bag Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 definitiorb 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 charity's 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 seNices or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. 31
The Buddy Bag Foundation el 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 obliEation 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 directlv 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. Trade Mark- amortised over 10 years El Fixed Assets- Tangible Assets Tangible Assets are recognised at cost less accumulated amortisation and any impairment. Depreciation on computer equipment is calculated over 3 years straight line. h) Investments Investment in the subsidiary company is valued at cost less provision for impairment. il Stocks Previously Stocks were valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The Trustees have voted that for the 2024 year end and going forwards stock is valued at net realisable value, which is deemed to be market value for a charity, as there is no income received for the stock as a result of the charitable purpose. A full stock take was carried out at 31" December 2024 and this is recognised in the Financial Statements to 31" Oecember 2024. It 15 not possible to give the full stock figure at 31" December 2023, as no complete stock take was carried out, and therefore it is also not possible to calculate what effert the stock market value of the stock would have had on the 2023 Financial Statements. 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 using the effective interest method, less 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. Il 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. 32
The Buddy Bag Foundation 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. Restrirted 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. 33
The Buddy Bag Foundation 2 Income from donations and legacies Total Funds 2024 Totsl Funds 2023 2024 Unrestricted Restricted Funds Funds percent of total Percent chanee Change Donations from individuals Donations from companies Donations from groups Donations at events Gift Aid Buddy Bag Kits Donated goods, services and facilities 66,658 49,634 27,794 826 6,959 1,250 90,210 66,658 84,151 31,037 826 6,959 1,250 113,272 68,098 24,493 18,070 519 13,285 21.9% 27.7% 10.2% 0.3% 2.3% 0.4% 37.2% 11,4401 59,659 12,967 307 16.3271 1,250 14,9631 34,517 3,243 243.6% 71.8% 59.2% 47.6Y. 23,062 118,235 4.2% 243,331 60,822 304,153 242,700 ioo.o% 61,453 25.3% Cash donations onlv 153,120 37,761 190,881 124,465 66,416 3 Other trading activities Total Funds 2024 Total Funds 2023 2024 percent of total Unrestricted Restricted Funds Funds Percent change Change les of Buddy Bear toyslpjs les of workshops and team building events 423 423 658 1.9% 12351 35.6% 21,454 21,454 50,886 98.1% 129,4321 57.8% 21,877 21,877 51,544 ioo.o% 129,6671 57.6% 4 Raising funds expenditure Total Funds 2024 Total Funds 2023 2024 pertent of total Unrestricted Restricted Funds Funds Percent change Change Processing charge5 on income received Fundraising event expenses Website promotional e¥penses 777 777 764 33,035 1,376 75 31,770 2.2% 2.2% 95.6% 15991 689 1,265 43.5% 919.0% 764 33,035 764 33,812 34,576 33,221 IoD.o% 1,356 4.1% 34
The Buddy Bag Foundation 5 Cost of charitable activities Total Funds 2024 Totsl Funds 2023 2024 Unrestricted Restricted Funds Funds percent of total Percent chanee Change DIRECT COSTS Materials purchased for Buddy Bags Less movement on stock Donated materi8ls for Buddy Bags Delivery ch4r8e5 Other direct Costs 106,240 1102,4231 74,330 9,399 1,419 106,240 1102,4231 74,330 9,399 1,419 120,081 119.4% 115.1% 83.6% 10.6% 1.6% 113,8411 1102,4231 196.82% 11,9581 2.6% 979 11.6% 14361 23.5Y. 76,288 8,420 1,855 Cost of Buddy Bag Brigades 88,965 88,965 206.644 ioo.o% 1117,6791 56.9% Total Funds 2024 Totsl Fund5 2024 percent of total Unrestricted Restricted Funds Funds Percent change 2023 Change SUPPORT COSTS Storage costs Stor8ge facilities donated Administrative services Ingurance Donated Services received and venue5 for trustee meetings Donated premises for Head Office Other support COSts 2,453 3,125 704 2,453 3,125 704 5,552 2,880 666 439 6.9% 8.8% 13,0991 245 38 14391 55.8% 8.5% 0.0% ioo.o% 500 11,250 16,721 500 11,250 17,586 500 15,000 14,290 1.4% 31.6% 49.4% 13,7501 3,297 25.0% 23.1% 865 Support Costs 34,753 865 35,618 39,327 IOD.O% 13.7081 9.4% Total charltable activltles expenditure 123,718 865 124,583 245,971 ioo.o% 1121,3861 49.3% Included in Other Support Costs 8re the following-. GOVERNANCE COSTS Independent Examiners Fee 720 720 600 ioo.o% 120 20.0% 6 Trustees, remuneration and benefits The Charity Trustees were not paid nor received any other benefits from employment with the charity in the year 12023.. £nill. 35
The Buddy Bag Foundation 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 enEaged to deliver these fundraising activities, which included one of the Trustees. Trustees, expenses represent the cost of delivering these workshops, including travel and subsistence costs totalling £8,539 for one Trustee12023.' £7,753- two Trustees) 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.. 2024 2023 Net operating income 11,860 35,846 Net profit Amount gift aided to the charity under Deed of Covenant Retained in subsidiary The assets and liabilities of the subsidiary were: 11,860 111,8601 35,846 135,8461 31 Dec 2024 31 Dec 2023 Current assets Current liabilities Total net assets 14,041 113,9411 loo 35,946 135,8461 loo Aggregate share capital and reserves loo loo 8 Parent charity The parent charity's gross income and results for the year are disclosed as follows.. 2024 2023 Gross income Net income 310,426 58,881 246,269 22,548 9 Stock Group Charity 2024 2023 2024 2023 Stock of Buddy Bears Other stock Stock of Buddy Bags and Buddy Bag components 3,708 loo 3,708 loo 106,232 106,232 106,232 3,808 106,232 3,808 36
The Buddy Bag Foundation 10 Fixed Assets- Intangible Assets Group Charity 2024 2023 2024 2023 Trade Mark at cost 170 170 170 170 Less amortisation 17 17 Net Book Value at 31.12.2024 153 170 153 170 11 Fixed Assets - Tangi ble Assets Group Charity 2024 2023 2024 2023 Equipment at cost 1,069 1,069 Less depreciation 356 356 Net Book Value at 31.12.2024 713 713 37
The Buddy Bag Foundation 12 Debtors Group Charity 2024 2023 2024 2023 Income receivable donations and Gift Aid Prepaid expenses Debtors Owed from subsidiary company 1,815 6,329 50 438 1,815 6,329 50 5,400 5,400 11,860 7,215 6,817 19,075 6,379 13 Creditors: Amounts falling due within one year Group Charity 2024 2023 2024 2023 Trade creditors Accruals and deferred income Other creditors Payable to subsidiary companv 2,536 1,320 609 1,351 600 342 1,054 720 610 4,732 1,351 600 342 8,759 4,465 2,293 7,116 11,052 14 Movement in funds Current year Atl January 2024 At31 December 2024 Income & Expenditure Gains & Losses Restricted Funds Unrestricted Funds 18,499 230,304 60,822 271,481 134,6771 1124,8551 44,644 376,930 Total Funds 248,803 332,303 1159,5321 421,574 38
The Buddy Bag Foundation Previous year Atl January 2023 At31 December 2023 Income & Expenditure Gains & 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 Purpose of restricted funds Restricted funds are donations and donated goods, services and facilities which are specifically to cover the administration costs. 15 Analysis of Net Assets by Fund Unrestricted Funds Restricted Funds Total Funds 2024 Intangible fixed assets Tangible fixed assets Current assets 153 153 713 713 380,529 14,4651 44,644 425,173 14,4651 Creditors less than I year Net assets 376,930 44,644 421,574 Unrestricted Fund5 Restricted Funds Total Funds 2023 Intangible fixed assets Current assets Creditor5 less than l year 170 170 232,427 12,2931 18,499 250,926 12,2931 Net assets 230,304 18,499 248,803 16 Related party disclosures The subsidiary company, The Buddy Bag Limited, was owed £4,732 by the parent, The Buddy Bag Foundation, at 31" December 2024 and The Buddy Bag Foundation was owed £11,860 by the Buddy Bag Limited for the corporate charitable donation. 39
nable Issuer Fruition Accountancy Document generated Fri, 31st Oct 2025 17'.00'.30 GMT Document fingerprint cbbf15c926fa8b64eOefdfa9d41885f3 Partles Involved wlth thls document Document processed Party + Flngerprlnt Fri, 31st Oct 2025 17.02.05 GMT Mr Dave Tyrell Signer Ib29341d5b9018d3803aae74ce87d34bdl Fri, 31 st Oct 2025 17.10.01 GMT Michelle Vincent- Signer le5f209e1f9ee4ea59b3d03dd50d4e4301 Fri, 31st Oct 2025 17.10.02 GMT Adam Fairhurst-Groethe- Copied In 18a26e4b656efala8b66d6l8f8¢8b04l Audit history log Date Action Fri, 31st Oct 2025 17'.00.30 GMT Envelope generated with fingerprint 01 Ocb9ega66d02b42f66fdb113317cf9 118. 133.63.1661 Fri, 31st Oct 2025 17.00.30 GMT Document generated with fingerprint cbbf15c926fa8b64cOcfdfa9d41 a85f3. 118. 133.63.1661 Fri, 31st Oct 2025 17.00.30 GMT Mr Dave Tyrell has been assigned to this envelope.118.133.63.1661 Fri, 31st Oct 2025 17.00.30 GMT Michelle Vincent has been assigned to this envelope.118.133.63.1661 Fri, 31st Oct 2025 17.00.30 GMT Adam Fairhurst-Groethe has been assigned lo this envelope. 118.133.63.166) Fri, 31st Oct 2025 17.00.45 GMT Envelope generated Fri, 31st Oct 2025 17.00.45 GMT Sent the envelope to Mr Dave Tyrell for signing Fri, 31st Oct 2025 17.00 46 GMT Document emailed lo party email Fri, 31st Oct 2025 17.01.26 GMT Mr Dave Tyrell viewed the envelope178.144.149.931 Fri, 31st Oct 2025 17..02.05 GMT Mr Dave Tyrell signed the envelope178.144.149.931 Fri, 31st Oct 2025 17.02.06 GMT Sent the envelope to Michelle Vincent for signing178.144.149.931 Fri, 31st Oct 2025 17..02.06 GMT Document emailed lo party email Fri, 31st Oct 2025 17.09.46 GMT Michelle Vincent viewed the envelope190.203.159.1211 Fri, 31st Oct 2025 17'.10.'01 GMT Michelle Vincent signed the envelope190.203.1 59.1211 Fri, 31st Oct 2025 17.10.02 GMT Sent the envelope to Adam Fairhurst-Groethe for signing190.203.159.1211 Fri, 31st Oct 2025 17'.10.'02 GMT This envelope has been signed by all parties190.203.159.1211 Document emailed lo party email Fri, 31st Oct 2025 17.'10:02 GMT