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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 10085412 (England and Wales) REGISTERED CHARITY NUMBER: 1166298

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

HAIR AND BEAUTY CHARITY

Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

HAIR AND BEAUTY CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2020

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 19

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

REPORT OF THE TRUSTEES for the year ended 31 December 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

PUBLIC BENEFIT STATEMENT

The board have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives set.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity was founded for the following charitable purposes:

Grantmaking

The management committee reviews all applications and decides who to help and what kind of help would be most appropriate. Our guiding principle is that we help professional hairdressers, barbers and beauticians in need and all applications will be considered against the said principle.

To ensure we support those in the most need, priority is given to individuals who have savings of less than £500 and whose income is less or not significantly higher than their expenditure to help as many hairdressers, barbers and beauticians and their young children.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

We continue to attract generous levels of funds from our sponsors and our regular events such as raffle tickets, bike rides and golf days.

During the year the Society made grants of £263,982 (2019 - £152,452) to a wide range of adults and children and aims to continue and where possible expand its grant programme in the next twelve months.

Page 1

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

REPORT OF THE TRUSTEES for the year ended 31 December 2020

ACHIEVEMENT AND PERFORMANCE

Fundraising activities

We are pleased to say that we managed to generate £669,494 from fundraising activities during the year.

Chairman's Statement

Due to the emergence of Covid 19 and the first of the national lockdowns beginning on 23 March 2020, fundraising for all charities continued to be very difficult. However, having decided to revert back to helping beauticians again the charity started to receive many more requests in the second half of the year because of the pandemic. In July the government delayed the re-opening of the beauty industry until mid-August leaving many therapists, aestheticians and make up artists with little or no income. One in every 60 jobs in the UK are supported by the beauty sector and those in the industry complained that they were being unfairly overlooked.

At this time, renowned beauty professional and writer Caroline Hirons took matters into her own hands and launched Beauty Backed, a petition and fundraising appeal, to raise money for the Hair & Beauty Charity, and to help raise funds to help hairdressing and beauty professionals and their children. 30,000 people signed the petition and raised £585,477 for the charity. This enabled us to address more requests and in 2020 we were able to spend on Beneficiaries £265k against £152k spent in 2019.

Given our strong financial position we were able to increase our beneficiary allowances in the following categories: child beneficiaries (under and over 12 years) monthly pocket money, summer holiday allowance, Amazon birthday gift cards, and adults' quarterly allowance.

Unfortunately, we were not able to arrange fundraising events other than our ball and raffle (the ball was held just before the pandemic started). Thankfully again because of our reserves, interest and dividends received through COIF we were able to continue to support our admin team without dipping into raised funds and donations.

I take this opportunity to thank all our sponsors, donors, trustees and committee members for their continued support and particularly our president Samantha Grocutt for her indomitable spirit in giving continued and new support to our sponsors and enlarging the charity's profile. Thanks also to Head of Charity, Jean Kelly and Beneficiaries Executive, Natalie Booker for their ongoing dedication.

Phillip Rogers, Chairman

Investment performance

Net gains on investment amounted to £139,728. Total investment income from listed investments was £60,225.

FINANCIAL REVIEW

Financial position

The financial results for the year to 31 December 2020 are shown in the attached financial statements.

Total income decreased from £1,981,939 to £825,046.

Total expenditure rose from £295,287 to £404,535.

There was a net increase in funds of £560,240 with total unrestricted funds carried forward of £2,574,075 (2019 - £2,000,020).

Investment policy and objectives

The charity aims to achieve a certain return of both income and capital growth with no more than a moderate level of risk.

Page 2

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

REPORT OF THE TRUSTEES for the year ended 31 December 2020

FINANCIAL REVIEW

Reserves policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 31 December 2020 would be three months of resources expended which is about £101,000. However, the charity is principally operated as a grant giving charity, and the trustees' policy is to seek to distribute the bulk of the income arising in each financial year as it becomes available.

The free reserves as at 31 December 2020 were £174,093. In calculating the reserves, the trustees have excluded from total funds fixed assets, investments and any restricted income funds.

Going concern

The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 December 2020. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

Undoubtedly there will be challenges ahead but the trustees do not expect material concerns to arise over the charity's financial position or going concern.

FUTURE PLANS

The charity plans to continue assisting the past and present members of the hairdressing and beauty industry.

Covid 19

Since the end of our financial year, the Covid 19 pandemic has developed rapidly, with significant social and economic impact. We have taken a number of measures to monitor and ensure the health and safety of our employees, volunteers and end beneficiaries. At this stage the impact on our ability to continue with our charitable activities is minimal. We have adapted our fundraising activities to comply with government's policies and advice.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Hair and Beauty Charity is a company limited by guarantee without share capital, incorporated on 25 March 2016 and registered with the Charity commission on 31 March 2016.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of new trustees

New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Hair and Beauty Charity. Trustees can retire when they do not serve under a fixed term of tenure.

Organisational structure

The board of trustees administers the charity. The board meets periodically.

Induction and training of new trustees

New trustees are given a full induction by the other trustees of the charity. Trustees can retire when they wish as they do not serve under a fixed term of tenure.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have a risk management strategy which comprises:

Page 3

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

REPORT OF THE TRUSTEES

for the year ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 10085412 (England and Wales)

Registered Charity number 1166298

Registered office

First Floor, One Abbey Court Fraser Road Priory Business Park Bedford Bedfordshire MK44 3WH

Trustees

Ms H Hall (resigned 13.10.20) Ms J A Lewis-Orr Ms P Mabey R M Rogers Ms H Ward Mrs L J Hickey Mrs S Grocutt-Davies (appointed 13.10.20)

Management Committee

Sam Grocutt-Davies - President Amy Woolner (Joined 09.02.21) Anna Mackew (Joined 12.01.21) Alexandra Forbes (Joined 08.12.20) Caroline Hirons (Joined 08.12.20 - resigned 09.03.21) Dafydd Thomas (Resigned 09.03.21) David Drew Jackie Holian (Joined 14.01.20 - resigned 12.01.21) Janine Jennings (Joined 08.06.21) Jenni Lovegrove Judith Holmes (Resigned 14.01.20) Lorenzo Colangelo Margaret King (Resigned 10.11.20) Paul Brooks Penny Etheridge (Joined 14.01.20) Peter Belcher Philip Sharp Richard Lambert (Joined 08.12.20) Robbie Atherton Sam Johnson Samantha Sweet (Joined 08.12.20) Sara Seaman Sharon Brigden Stacy Humphreys (Resigned 13.10.20) Wendy Frame (Joined 13.10.20) Zoe Tanner (Resigned 112.01.21)

Company Secretary

Ms J Kelly

Page 4

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

REPORT OF THE TRUSTEES for the year ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Approved by order of the board of trustees on 23 July 2021 and signed on its behalf by:

R M Rogers - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAIR AND BEAUTY CHARITY

Independent examiner's report to the trustees of Hair And Beauty Charity ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 (FRS 102)).

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.

Mr Suda Ratnam FCCA Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

23 July 2021

Page 6

HAIR AND BEAUTY CHARITY

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Donated services and facilities
5
Transfer from Hair & Beauty Benevolent
Fundraising
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Charitable activities
Total
Net gains on investments
NET INCOME
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
95,327
-
669,494
60,225
825,046
36,070
368,465
404,535
139,729
560,240
13,815
574,055
2,000,020
2,574,075		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
(13,815)
(13,815)
13,815
-		 2020
Total
funds
£
95,327
-
669,494
60,225
825,046
36,070
368,465
404,535
139,729
560,240
-
560,240
2,013,835
2,574,075		 2019
Total
funds
£
70,585
1,743,702
109,489
58,163
1,981,939
59,698
235,589
295,287
276,393
1,963,045
-
1,963,045
50,790
2,013,835

The notes form part of these financial statements

Page 7

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

BALANCE SHEET

31 December 2020

Notes
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Debtors
16
Cash at bank
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
610
2,372,926
2,373,536
13,219
199,931
213,150
(12,611)
200,539
2,574,075
2,574,075		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-		 2020
Total
funds
£
610
2,372,926
2,373,536
13,219
199,931
213,150
(12,611)
200,539
2,574,075
2,574,075
2,574,075
-
2,574,075		 2019
Total
funds
£
559
1,913,197
1,913,756
11,502
97,547
109,049
(8,970)
100,079
2,013,835
2,013,835
2,000,020
13,815
2,013,835

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

HAIR AND BEAUTY CHARITY (REGISTERED NUMBER: 10085412)

BALANCE SHEET - continued

31 December 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 July 2021 and were signed on its behalf by:

R M Rogers - Trustee

The notes form part of these financial statements

Page 9

HAIR AND BEAUTY CHARITY

CASH FLOW STATEMENT for the year ended 31 December 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2020
£
362,654
362,654
(495)
(320,000)
-
-
60,225
(260,270)
102,384
97,547
199,931		 2019
£
(1,489)
(1,489)
(838)
(15,658)
15,658
266
57,897
57,325
55,836
41,711
97,547

The notes form part of these financial statements

Page 10

HAIR AND BEAUTY CHARITY

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 December 2020

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2020 2019
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 560,240 1,963,045
Adjustments for:
Depreciation charges 444 651
Gain on investments (139,729) (276,393)
Interest received - (266)
Dividends received (60,225) (57,897)
Assets gifted by The HBB - (1,637,176 )
Increase in debtors (1,717) (863)
Increase in creditors 3,641 7,410
Net cash provided by/(used in) operations 362,654 (1,489)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20 Cash flow At 31.12.20
£ £ £
Net cash
Cash at bank 97,547 102,384 199,931
97,547 102,384 199,931
Total 97,547 102,384 199,931

The notes form part of these financial statements

Page 11

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Assessment of going concern

The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 December 2020. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed below. In arriving at the conclusion, the trustees have considered the potential implications of the effects of Covid 19 on the charity. The figures for the period under consideration have not been impacted by Covid 19 and the trustees are confident that no adjustments are necessary to the carrying value of the assets held at the balance sheet date.

With regard to the next accounting period, the year ending 31 December 2021, the most significant areas that may affect the charity are potential loss of income due to reduction in fundraising activities and investment return and the carrying value of the assets held by the charity due to the performance of the investment markets.

Undoubtedly there will be challenges ahead but the trustees do not expect material concerns to arise over the charity's financial position or going concern.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount.

Dividends and interest on securities are credited in the financial statements when the charitable company is entitled to receive the funds.

Gift in kind

Gifts in kind are recognised at their open market value at the date of transfer.

continued...

Page 12

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.

Creditors and provision

Creditors and provision are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.

continued...

Page 13

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

2.
DONATIONS AND LEGACIES
Donations
Gift aid
3.
FUNDRAISING
Bike ride
Golf day
Raffle tickets
Charity ball
Voluntary fundraising
Charity fundraising
Relief fund
4.
INVESTMENT INCOME
Investment income received
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Transfer from The Hair &
Beauty Benevolent
Transfer from Hair & Beauty Benevolent
6.
RAISING FUNDS
Raising donations and legacies
Bike rides
Sports events
Raffle tickets
Charity ball
Salons and beauty costs
Other fundraising costs
Advertising and marketing
Travelling		 2020
£
92,338
2,989
95,327
2020
£
900
1,877
5,889
37,205
592,122
-
31,501
669,494
2020
£
60,225
-
60,225
2020
£
-
2020
£
400
1,080
1,199
26,632
-
627
5,782
350
36,070		 2019
£
69,078
1,507
70,585
2019
£
28,672
12,540
11,404
31,497
17,716
7,660
-
109,489
2019
£
57,897
266
58,163
2019
£
1,743,702		 2019
£
69,078
1,507
70,585
2019
£
28,672
12,540
11,404
31,497
17,716
7,660
-
109,489
2019
£
57,897
266
58,163
2019
£
9,445
2,893
2,993
23,979
2,760
1,645
14,103
1,880
59,698

continued...

Page 14

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

7. CHARITABLE ACTIVITIES COSTS

7.
CHARITABLE ACTIVITIES COSTS
Charitable activities
8.
GRANTS PAYABLE
Charitable activities
The total grants paid to individuals during the year w
Grants to individuals
9.
SUPPORT COSTS
Management
£
Charitable activities
10,540
10.
NET INCOME/(EXPENDITURE)		 Direct
Costs
£
77,218
s as follows:
Finance
£
1,835		 Grant
funding of
activities
Support
(see note
costs (see
8)
note 9)
£
£
263,982
27,265
2020
£
263,982
2020
£
263,982
Governance
Other
costs
£
£
520
14,370		 Totals
£
368,465
a 2019
£
152,452
2019
£
152,452
Totals
£
27,265

Net income/(expenditure) is stated after charging/(crediting):

2020 2019
£ £
Depreciation - owned assets 444 651
Other operating leases 6,000 6,000

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Page 15

continued...

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
The average number of employees during the year was 2.
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
70,585
Donated services and facilities
Transfer from Hair & Beauty Benevolent
1,729,887
Fundraising
109,489
Investment income
58,163
Total
1,968,124
EXPENDITURE ON
Raising funds
59,698
Charitable activities
Charitable activities
235,589
Total
295,287
Net gains on investments
276,393
NET INCOME
1,949,230
RECONCILIATION OF FUNDS
Total funds brought forward
50,790
TOTAL FUNDS CARRIED FORWARD
2,000,020		 2020
£
71,417
3,442
2,359
77,218
2020
2
Restricted
fund
£
-
13,815
-
-
13,815
-
-
-
-
13,815
-
13,815		 2019
£
53,299
1,988
1,447
56,734
2019
2
Total
funds
£
70,585
1,743,702
109,489
58,163
1,981,939
59,698
235,589
295,287
276,393
1,963,045
50,790
2,013,835

Page 16

continued...

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2020

14. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 January 2020
2,233
838
Additions
-
495
At 31 December 2020
2,233
1,333
DEPRECIATION
At 1 January 2020
2,233
279
Charge for year
-
444
At 31 December 2020
2,233
723
NET BOOK VALUE
At 31 December 2020
-
610
At 31 December 2019
-
559
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2020
Transfer from The Hair & Beauty
Benevolent
Revaluation
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
There were no investment assets outside the UK.
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Other debtors
1,445
Prepayments
11,774
13,219		 Totals
£
3,071
495
3,566
2,512
444
2,956
610
559
Listed
investments
£
1,913,197
320,000
139,729
2,372,926
2,372,926
1,913,197
2019
£
1,444
10,058
11,502

continued...

Page 17

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
Accrued expenses
18.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.1.20
£
2,000,020
13,815
2,013,835
as follows:
Incoming
resources
£
825,046
825,046		 Net
movement
in funds
£
560,240
-
560,240
Resources
expended
£
(404,535)
(404,535)
At 1.1.19
£
50,790
-
50,790
as

continued...

Page 18

HAIR AND BEAUTY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
1,968,124
13,815
1,981,939		 Resources
expended
£
(295,287)
-
(295,287)		 Gains and
losses
£
276,393
-
276,393		 Movement
in funds
£
1,949,230
13,815
1,963,045

Leonard Lewis Fund

The Leonard Lewis Fund was established to provide financial assistance to Mr Leonard Lewis who was an eligible beneficiary of the Hair & Beauty Benevolent Society, at the direction of the trustees. Leonard Lewis died on 30 November 2016. During the year, it was decided that the unrestricted funds brought forward of £13,815 is to be transferred to the unrestricted fund until it is decided where to spend the money.

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

Page 19