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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.
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BNI
coft
ATE
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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.
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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
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foundation.co.uk
volunteer
BBF Awards
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BBF Annual Awards held at lan Hazel Funeral Services held in Sept 24 to celebrate our Volunteers, Ambassadors
and Supporters.
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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
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founx.
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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
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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
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foundation.co.uk
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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.
#i¥mloved
61PT ONEJ
18

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
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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
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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 child￿nwh0
came the reftjge and
ut￿a£h too. The Smile o
their littlè faces is pricoless..
t rerEYvEd th
ndlwa
a thankyouiTh
incr¢dlble*w￿1I make
dSfferencetDEheywng pèD
areworkiw WI￿￿¢ See
muchthought&ndcBro h￿￿90
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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, se￿l£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

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Issuer
Fruition Accountancy
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