REGISTERED CoPANy NUMBER: 10085412 {England Wales) REGISTLRED CHARITY NUMBER: 1106298 REPOR'I. OTr THE TRUSTEES AND ITl4o&lTDITF.D FINANCIAL STATEMENTS F()R THF. Y AR ENDED 31 DECEMBER2023 HAIR AND BEAUTY CHARITY RatYin8¢rs LLP Chartered Certified Ac¢ounthnts 19-20 Bourne c.ourt Stsuthend Road W(K)dford Green Essex IG8 8HD
HAIR AND BEAUTY CHARITY ONTENTS OF THE FINAIY IAL TATEMENTS frjr th¢ ear ¢thdtd 31 D¢c¢mb¢r 2023 Page Report of the Trusteeg IndepeTrdent Examiner's Report Statement of Flnattelal Aetlvities B#l#nce Skne¢t Cash Flow S¢•tement 10 Notes to the C8$h Flow Statement Notu to the Financial St8temeDts 12 to 20 Detgiled Statement of Fin8ncial Activities 21 to 22
HAIR AND BEAUTY CHARITY REPORT OFTHE TRUSTEES for the ear ended 31 December 2023 The trust¢¢s who ar¢ also dIreor$ of th¢ ¢harity for the purpos¢5 of the Companies Ac¢ 2006, preseni their report with the financial s&rements of the charity for the year ended 31 December 2023. The trustees have adtspted the PTOVi5ions of Accounthn8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aceounts in accordance with the Finan¢ial Reporting Standard appli¢able in the UK and Republi¢ of Irelartd (FRS 102} (effective l January 2019). PUBLIC BENEFIT STATEMEiYr 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 th¢ charity's future a¢tivitie& In particular, the trustees consider how planned a¢iivities will contribute to ihe aims and objectives set. OWEcfivES AI¥D AcrtVlTIES Objectives aim$ The charity wa5 founded for the followin8 charhtsble purpose5'. Renderin8 assistance in Cases ofneed by way of annuities andlor grnnts to past and present membets of the hairdTes5Lng. barber and beauty industry. their 5pouse5 andlor children. Such awards are granted by the committee in accordance with the charity's rules. Granting reli¢f cases by way of grants to non-members ¢onne¢ied with the hairdressin& barber and beauty industries of arky nationality and resident in the UK. Grantmakithg The mana8etnent committee reviews all applications and decides who to help and what kind of help would be mos¢ appropriate. Our Buiding principle is th we help professiollal hahrdre5sers, barbers and beauticians in need and all applications will be considered against the said principle. To ensure we 5UPPOrt those in the most need, priority is given to indivtduals who have savings of less than £500 and whose in¢ome is l¢ss or not stgnifi¢antly higher than their expenditure to help as many hairdresser& barbers and beauticians and their young children. ACHIEVEMEP4T AND PERFORMANCE Charitable activities We continue to attract generous levels of funds from our snSorS and our regular ev¢nts $u¢h as raffle ti¢kety bik¢ rid¢s and golf days. During the year the society made grants of £142.610 {2022- £110.418) to a wide rdnge of adults and children and aims to ¢ontinue and where possible expand its grani programme in th¢ n¢xi twelve monihg. Po8¢ 1
HAIR AND BEAUTY CHARITY REPORT Off THE TRUSTEES ftsr the ear ended 31 Deeem ACHIEVEMENT AND PERbORMANCE Fundraising activitie$ We are pleased to Say that we managed to generate £105,444 from fundraising ad]viti during the year. ChAirmau'5 Statement Thankfully, in 2023 many businesses and individuals managed to get back on their feet and the Charity was not having to help $0 many on a short-term basi5. bLtt we did nOii¢e a substantial in¢r¢ase in enquiries and requests from kauticians. in Febnw 2023 Susan Routled8e & Sara Shoemark joined the committee represenling the beauty industry. The year started with Jayne LeWi5-0 and Hellen Ward goirkg into their second year as President and Viee President r¢spectively. However. at the end of (he year the Tn]stees agreed on some Charkty restructuring. It was decided to make the President and Vice President Roles permanent for continuity PUTpose& whth Jayne and He51en agreeing to remain in these roles for the foreseeable future. I will remain as Chairtnan. and Lynn Hi¢key ag Treasurer. Curr¢ni Directors and Trust¢¢s will be asked to resign and re-stand for r¢-election as usual ¢a¢h year at the AGM. Sponsor representation on th¢ committee remains by invitation at Silver level. All current and new sponsors to be asked to nominate their representative for the SPOllSOTship period. Independent committee memb¢rs will be asked annually to resign at year end. with effect from 3 1st December 2023 and put thefflselves forward for re-election for the following 12 months and these will be reviewed and voied on by the Trust¢es. Individual bespoke ambassador role5 to be created for those who have done ¢xtratsrdinary things for the Charity over th¢ year and will be for l y¢ar. Once again, our resolv¢ wos to organise and concentrate on events and with conlinued thanks to our President Jayne I*wis-Orr, our golf day was combined with that of the HBSA again which proved to be benefJ¢ial for both partie5. In April. we launched our first Spring party at a London nightclub and hop¢ to make this an annu81 event. In Scplrmbcr, Vithr Pajak again su¢¢e$sfully ho$t¢d our annual bike ride, this time in Ibiza. Our raffle continues to be ever more successful thanks to our President and Mark Moloney of the Professional Beauty Group allowing tickets to be sold at all of their award events and at their trade shows where great su¢c¢ss was also a¢hi¢ved from selling donated, end-of-line produ¢ts from many hair and beauty manufacturers. We were fortunate again to receive £35,000 in donation5 from voluntary fundraisers iTrcluding individuals. other hairdressing organisations, whole5aler& various salon$ and produ¢t Companies. Thankfully, because of our resetves inlerest and dividends received through COIFFICCLA. we were able to continue to SUPPOrt our admilli5tratKon team without dipping into raised funds and dortations. Our Charity MAnager and Company Secretary Natslie Merola. along with our Beneficiaries Exe¢utiv¢ Sardh Hashim, continue to do a fJrst-cl&8s job not only in adrnini5trntiv¢ roles. but also at hair events. In fact, in April SaTrh Hashim won the 'My Saviouv Award at the Lions Barber Collective Pride Awards for 8iving aY more than expected. on80ing care. compassion and kindness at a time when rnost needed,. Lastly. but by no Tneans least. l tske this opportunity to thank our Presidtnt Jayne Lewis-orr and our Vt¢e Pre5ideni H¢ll¢n Ward, all our valued Sponsors. Donor& TtiJste¢5 and Committee members for their continued support. and our adminis(ration team. for their ongoingT resolve and dedication. Pa8¢ 2
HAIR AND BEAUTY CHARITY REPORT OF TH USTEE l December 2023 eur ended ACHIEVEMENT AND PERFORMANCE Phillip Rogers, Chaimwi Investment performance Net profit on investment amounted to £220.028. Total investment income from listed investments was £74,291. FINANCIAL REVIEW Fittantial position The financial results for the year to 31 De¢ernber 2023 are shown in th¢ attsched financial 5tatem¢nts. Total income decreased from £288,857 £267,058. Total expenditure increased from £250,498 to £289.877. There was a net increase in funds of £197,209 with totsl unrestricted funds carried forward of £2.689.56012022- £2.492.351). INve$tm¢nt policy objectives Thc charity aims to achieve a certain return of both income and capithl gr0h with no more than a moderat¢ level ofrisk. Reserves policy Th¢ trustees have established the level of reserve5 (that is those fund5 that are freely available) that the chartty oughi to have. Reserves are needed to bridge the fundill gaps between spending on a¢tiviti¢4 and re¢eiving resources through voluntary income. 'fiie truslecs C4)nsider that the ideal level of reserve5 a5 at 31 Dec£mber 2023 would be three months of re50UT¢es expended whi¢h is abou¢ £62,62.S. However, the charity 15 PTin¢ipally operated as a grant giving ¢h8rity, and the trustees, policy is to seek to distribute the bulk of the income arising in each financial year as it becomes available. The free reserve5 a5 at 31 DeceTnber 2023 were £74,642. In calculating the reserves, the tmstees hav¢ excluded from total funds fixed assets, inv¢sim¢nts and any restricied ineome funds. Going tontern The tru5tee5, having made appropriate enquiries, considei that adequate r¢sour¢es exists for the charity to continue in operdtional ¢xisten¢e for th¢ foresee8ble fure and that. therefore. it l5 appropriate to adopt goin% concem basis in preparing the financial statements as at and for the period ended 31 December 2023. The trustees h3v¢ made this assessment in respect to a period of one year from the date of approval of these accounts. Undoubtedly there will be challenges ahead but th¢ trusters do not expe¢t material ¢on¢erns to arise ov¢r the charity's fjnaiicial or going concern position. FUTURE PLANS The charity plans to continue assisting the past present members of th¢ hairdr¢ssing and beauty industy. STRIICTURE, GOVERNANCE AND MANAGEMENT Governing document Hair aiid Beauiy Charity i$ a ¢ompony limited by guarantee without share capital, incorporated on 25 March 2016 and registered with the C'.harity commission on 31 March 2016. The company wa5 esthblished under a Memorandum of Asso¢ia(ion whi¢h established the obje¢ts and powers of the charitable company and is govemed under its Articles of A&sociation. Page 3
HAIR AND BEAUTY CHARITY REPORT OFTHE TRUSTEES ear ended 31 December 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Rtcruitment and #ppolntment ofnew trustees New tN5tees aTe appoknt¢d due tts their inter¢st in the work of the charity and their recognised experience in spe¢ifJ¢ fields whi¢h will furth¢r support the work of Hair and BeaLrty Charity. Trustees can retire when they do not serve under a fixed temi of tenure. Organisational $truetur¢ The board of trustees administers the charity. The ard meets p¢riodi¢ally. Induttion #ttd trAittitsg of t)ew trustees New trustees are given a full irkduction by the other trustees of the ¢harity. Ttee$ ean retire when they wish as they do not serve under a fixed rnI of tenure. Risk m#nagement The tTUStces have a duty to identify and miew ihe risks to which the ¢h8rity is exposed and to ensure appropriate controls are in place io provide reasonable a&8urance against fraud and error. The trustees have a risk mana8¢m¢nt strate&v whtch compri5es.' ali annual review of the risk5 the rharity may face; the establishment of systems and procedures lo mitigate those risks identified in the plan; the iMpl¢mentstion of procedure$ design¢d to mintmise any potential impact on the charity should those risks mAterialise. REFERENCE AND ADMINISTRATIVE DETAILS Registered Comp8ny number 10085412 (England and Wales) R¢gistered ChArity number 1166298 (England aiJd Wales) Registered Charity number SC05129318cotland> Registered offiee First Floor. One Abbey Court l.raser Road Priory Business Pork Bedford Bedfordshire MK44 3WH Pa8¢ 4
HAIR AND BEAirrY CHAR REPORT OFTHE TRUSTEES for the eAr ended 31 December 2 Trustees Mrs J A Lewis-orr Ms P Mabey R M Rogers Mr5 H Ward Mrs L J Hick¢y Mrs S Grocutt-Davies Fundraising Committee Amy Woolner David Drew Eniily Davis (Maternity leave 20.10.23) Gaynor Hodge Janine Jennings Lorenzo Colatlgelo Paul Brooks Philip Sharp (Resigned 01.01.2.31 Rachael Gibson (Restgned 18.04.23) Richard Lambert {Resigrted 31.09.231 Robbie Aiherton Samantha Sweet Sharoii Bri8den Wendy Frame Susan Routledge (Joined 08.02.23} Sara Shoemark {Joined 08.O2.23) Fern Sayer- covering Emily DAVIS maternity leave (Joined 20.10.23) Company Steretary Mrs N Merola Independent Examiner Raffingers LLP Chartcred Certified Accountants 19-20 Boume Court Southend Road Woodford Green Esstx IG8 8EID Approved by order the boanl of trustees on 20 August 2024 and signed on its behalf by: R M Rogers- Tru te¢ Page 5
INDEPENDEf4T EXAMINER'S REPORT TO THE TRUSTEES OF HAIR AND BEAUTY CHARITY I report on th¢ aonIS for the year ended 31 December 2023 set out on pages seven to twenty. Respective responsibilities oftrustees examiner 'rhe charity's trustee5 are responsible for the preparation of the accounts in accordance with the terms of the Charities and frustee Investment {Scotlandl A¢t 2005 and th¢ Chariti¢s A¢¢ounts (Scoiland) RegulAtions 2006 (as amended). The ¢hariiy'8 trustees consider that the audtt requirement of Regulation l 011 }la) to (c) of the Accounts Regulations does not apply. It 15 my respoT15Lbility to examine the accounts as required under Section 44(11(¢l of the Act and to state wh¢ther parti¢ular matters have ¢ome to my attention. Basi5 of the independellt examinees report My examination was carrsed out in accordatlce with Re8ulation I l of the Charities Accounts {Scotland) Regulations 2006. An examinatioi) includes a review of the accounting records kept by the chority and a Comparison of the accounts presented with those re¢ords. It also includes ctsnsideratitsn of any unusual iletns or disclosures in the accounts, and 5eekiThg explanatlons frotn you a5 trustees concerning any such matters. The procedures undertaken do not provide all the evid¢nce that would be required in an audiL and consequently I do nor express an audit opinion on the view given by the acunts. Independtllt exatyRDer's $t#tement In connection with my examination. no matter ha5 come to my attention .' { l ) which give5 me reasonable cause to believe that. in any materÉal respect. the rquirements to keep accounting records in aecordance with Section 44(1)la) of the 2005 Ad and Regulation 4 of the 2006 Accounts Regulations: and to prepare a¢¢ounts which accord with the accounting record5 aTMI to comply with Regulation 8 Of the 2006 Accounts Re8ulations have noi been rnet- or {2) to which. in my opinion. attention should be drawn in order to enable a prop under51anding of the accounts to be rcached. Mr Thurairatnam Sudar5han FCCA The Instituie L)f Chartered A¢¢ountants in England and Wales Raffin8er5 LLP C.h3r¢ered c.ertified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD 20 August 2024 Page 6
HAIR AND BEAUTY HARITY STATEMENT OF FINANCIAL ACTIVITIES for the ear ended 3J D¢¢¢mb¢r 202 2023 Total funds 2022 Total nds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and lega¢ies 87.323 87,323 102.434 Fundraising Investment income 105.444 74.291 105,444 74,291 114.336 72,087 Totgl 267 058 267.058 288,857 EXPENDJTIIRE ON Raisins funds 31389 32.389 34.702 Chgritable aetfftvities Chariiable activities 257 488 257,488 215.796 Total 289 877 250 498 Net 8ainsl{Iosse5) on investments 220 028 220.028 315,071) NET INCOME/(EXPENDITURE) 197,209 197.209 (276,712) RECONCILIATION OF FUNDS Total funds brought forward 2.492.351 2,492,351 2,769,063 TOTAL FUNDS CARRIED FORWARD 2 689,560 2 689 560 2492351 CONTif4UING OPERATIONS All in¢ome and expenditur¢ has aris¢n from eontinuing activities. The notes forni part of the¢t financial ststements Page 7
HAIR AND BEAUTY CHARITY BALANCE HEET 31D mber 202 2022 Total funds Unrestricted fund Restri¢t¢d fund Total funds Notes FIXKD ASSETS Tangible assets Investments 13 14 424 2.614 494 424 2614494 271 2 394.466 2.614,918 2.614,918 2J94.737 CURRENT ASSETS Debtors Cash at bank 5,050 5.050 83.610 5,950 105.282 88.660 88,660 1.232 .REDITORS Amouiits falling due withit) one year 16 (14.018) {14,018) {13,618) P4ET CURRENT ASSETS 97.614 TOTAL ASSETS LESS CURRENT LIABILITIES 2,689,560 2,689.560 2.492.351 NET A&SETS 2 689.560 2.689,560 2.492 351 FUNDS Unr¢stricted funds 17 2 689,560 2.492,351 TOTAL FUNDS 2 689.560 2,492,351 The charitable comp8ny is entitled to ex¢mption from audit under Section 477 of the Companies A¢t 2006 for the year ended 31 December 2023. The meinbers have not re9uirrd the company to obtsin an audit of its financial $taiements for the year ended 3 1 December 2023 in accordance with sectio 476 of the Companies Act 2006. The tTU5ttes acknowledge their responsibilities for (al ensuring thai the charitable company keeps ac¢ountin8 records that comply with Sections 386 and 387 of the c.ompanies Act 2006 and preparing financial statements which give a trye and fair Yiew of the stat¢ of affairs of the charitable company as at the end of each flnancial year and of its surplus or d¢ficit for each fjnancial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial 5tatem¢nts, so far as applicable to th¢ charitable cornpany. Ib) The notes fom part ofthese financial ststeTn¢nts Page 8 ¢ontinu¢d...
HAIR AND BEAUTY CHARITY BALANCE SHEET- cotttiDued 31 Dee¢mb¢r 2023 These firkincial Statements have been prepared in a¢¢ordan¢e with the provisions applicable to charitable companies subject to the sfftall cotnpanies regitne. The financial statements w¢re approved by the Board of Trustees and authoris¢d for issu¢ on 20 August 2024 and were signed on its i)ehalf by.. RMRo8e Tustee The notes form part of these financial statement5 Page 9
HAIR AND BEAUTY CHARrrY CASH FLOW STATEMEP4T lor ¢h¢ r ended 31 DeceJDber 2023 2023 2022 Notes C.Ash flows from operating attivities Cash generated from operd¢ions Net e&sh ud in operating activities 95,59n 30.547 Cash flows from InveStig •<tivltie$ Purchase of tan8ible ftxed assets Dividends rtteived (366) 74.291 72,087 Net c&sh provided by Investin activities 72.087 Chang¢ in cash and cgsh equiYleDtS ID the reporting period C.¥sh And cAsh equivfilents & the beginnirtg of the reporting period (21,672) 41.540 105 282 Cash And £Ash equiv#lethts #t the end of tht r¢wbrting period 83.610 105 282 The note5 forni part of these financial statements Page 10
HAIR Af4D BEAUTY CHARITY NOTES TO THE CASH FLOW STATEMENT for the ear ended 31 December 2023 RECONCILIATION OF NET INCOMEI(EXPENDITURE} TO NET CASH FLOW FROM OPERATING ACTlVI'fiES 2023 2022 Not incomel(expeDditure) for the reporting period (As per the Statement or Firt#neial Actlvltles) Adjustrnents for: Deprwiati(>n Charges (Gainlllosses on investments Dividertds received Decreasel(irtcreast) in debtors In¢r¢as¢ in creditors 197,209 (276,712) 212 (220.028) (74.291) 315.071 172,087) (2.0051 401 Net Cash used in operntion$ 95 597) ANALYSIS OF CHANCES IN NET FUNDS At 1.1.23 Cash flow At31.12.23 Net cash Cash ai bank 105,282 105.282 21.672 83.610 To¢AI 105.282 The notes form part of these financial statements Page I I
HAIR AND BEAUTY CEIARITY NOTES TO TFIE FINANCIAL STATEMENTS ren l December 2023 ACcoUrING POLICIES Ba$l$ of preparlng the fingn¢i*l st8tements The fjnancial statements of the ¢haritsbl¢ company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102)'Aceounting and Reporting by Charities.. Statement of Recommended Practice applicable to ¢haTlties preparing iheir ac¢ounts in accordance with the Financial Reporting Standard applscablc in the UK and ReptJbli¢ of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland. and the Companies Act 2006. The financial statejnents have been prepared under the historical e05t convention. with the exeeption of investments which are included at market value. Ass¢ssment of gofftDg concern The tru5t¢es, having made appropriate enquiries, Consider that adequatc re50urce5 exists for the charity to continue in operational existence for the foreseeable future and thaL therefore. it is appropriate to adopt going ¢on¢em ba51$ in prqjaring the financial Statements as at and for the period ended 31 De¢¢mb¢r 2023. The tru$t¢¢s have made this assessment in respect to a period of one year from the date of approval of these accounts. Tlie trustee5 of the charity have concluded that there are no material un¢ertainties related to ev¢nts or conditions that may ¢ast siBnifi¢ant doubt on the ability of the charity to continue as a going eoncem. The trustees are of the opinion that the charity will have sufficient resource5 to Imeet its liabilities as they fall duc. With regard to the next accounting period, the year ending 31 De¢ember 2023, the most signifi¢ant are&8 that may afftct th¢ charity are potent181 loss of income due to reduction in fundraising activitie5 and investment retum and the Carrying Value of Ihe assets held by the charity due ¢0 the perfornian¢e of the investment markets. Undoubtedly there will be challenges ahead but the truste¢s do not expect material concerns to arise over the charity's fjnancial position or 80in8 conccrn. Critic818¢eouoting judgements 8nd key SoUeS of estim8tioD uneertAiDty Preparation of the financial statements requires the trustees and management to mak¢ signifi¢ant judg¢m¢nts and ¢stimaies. The items in the accounts where these judgements and estimate$ have be¢n made in¢lude.' the useful e¢onomi¢ lives attributed to thngible fixed assets used to d¢t¢miine the annual dePrlatIon charge. Ineome Income is recognised when the charitable cornpany is legally entitled to it after any perfornian¢e nditiOnS have been m¢ the amounis Can be mfdsured reliably. and it is probable that in¢om¢ will be received. Cash donations ar¢ r¢cognised on rece2pt. Other donations are recognised once the charitable company ha5 been notified of the donation. unles5 performance conditions requi def¢Tral of thr amoutkt. Dividend$ and interest on se¢urities are credited in the ftnan¢ial statements when the ¢haritable eompany is entttled to receive the funds. Gift IN kind Gifts in kind are recognised at their open market value at the date of tfdnsfer. Page 12 ¢ontinued...
HAIR AND BEAUTY CHARITY NOTES TO THE FINANCIAL STATEMENT fort r ended 31 December 2023 continued ACCOUNTING POLICIES- contlDu¢d Expenditure Liabilities are Tecogll15¢d as exp¢nditur¢ 8$ soon as there is a legal or constTU¢tive obligation committing the charity to that expenditure. it is probabl¢ that a transfer of economic benefits will be required in settlemeTrt and the amtsunt of the obligaiion C8n be measured reliably. Expenditure is accounted for on an accrua15 basis and has b¢en elassified uiider heading5 that aggT¢gatt all Cost relat¢d to the cate80ry. Wherc Losts cannot b¢ dir¢¢tly attribuied to particular headin¥s thry have been ollocated to activities on a basis ¢onsisien¢ with the Lise of resources. Grants offertd subject to conditions which have not been mct at ihe year end date are noted &s a commitment but not accrued as eXndItre. Tangible fixed sssets Depreciation is provided ai the following annual rates in order to write off each ass¢t over its estimated useful life. Comput¢r eqllipm¢nt 330/0 on cost Ta%#tlort The company 15 considered to pass the tests set out in Sch. 6. para. l of the Finance Aci 2010 and therefore it meets the definition of a ¢harÉtable company for UK corporation tsx prse$. Accordingly. the company 15 Potentially exerTtpt from xation in respect of income or ¢apital gains received wtthin categori¢5 covered by Pt. I I, Ch. 3 of the Corpordtion Tax Act 2010 or s. 256 of the Taxation of Charg¢abl¢ Gains A¢t 1992, to the extent that such incotne or gains are applied rxclusively to ¢hariiable purposes. Unrestricted funds can be used in accordan¢e with the charitable objectives at the discretion of the trusiees. Restricted ndS can only be used for particular restricted purposes within the objects of the charity. R¢strictions arise wh¢n specified by th¢ donor or when funds are rdksed for pHrticular restricted purwses. Further explanation of the nature and purpose of each fund is included in the notes to the financial ststements. Hire pureh85e And ka5}g corNmitments Rentals paid under operdting leases are charged lo the Statetnent of Financihl Activities on a strdight lin¢ basis over the peri¢)d of the lease. Penston costs other post-retirement b¢n*llt$ The charitsble company operate5 a defined contribution nsiOn s¢h¢m¢. Contributions payable to the charitable company'5 pension scheme a Charged to the Ststement of Financial ActLVities in the period to which they relat¢. C#sh #t bk and in h4nd Cash at bank and in hand represents such a¢¢ounts and instrum¢nts that are available on dernand OT have a maturity of less than three months fomi the dat¢ of wquisitTron. Deposits for more than th¢ months bui less than one year have been dssclosed as ghort temi deposits. Creditor5 and provi$iot) Creditors and provision are recogTri5ed when there is an obligation at the balance sheet date as a rcsult of a past event. kt is probable that a transfer of e¢onomi¢ benefjt will be required in settlemenL and the amount of the seitlement Can be estimaied reliably. CreditOTS and provision are recognised at the moment the charity anticipates it wÈll pay to Settle the debt. They have been di$¢ount to the present value of the future cash payments where such discounting is material. Pa8e 13 continued...
HAIR AND BEAUTY CHARITY NOTES TO THE FINAN IA TATEMENTS- contiDued for the ear eDded 31 Decejllber 2023 DONATIONS AND LEGACIES 2023 2022 Donaiions Gift aid 85,646 1.677 99,984 2.450 87.323 102.434 FUNDRAISANC 2023 2022 Bike ride Golf day Raffle tickets Voluntary fundraising Charity fundraisin8 Other income 11.543 10.489 12.515 7.900 13.415 52,292 47,436 14,072 10,391 105.444 114 3.36 INVESTMENT INCOME 2023 2022 Investment in¢ome rtteived 74.291 72,087 RAISINC FUNDS Raising don4tiDThs •nd legacies 2023 2022 Bike rides Raffle tickets Salons and beauty costs Other fundraising Costs Advertising and marketing TTavellin& Golf Day Costs 3.747 {133) 5,569 4,778 12.000 2,034 4.394 7.855 3.350 4,030 4.-328 11,650 1,47.3 2.016 32.389 34.702 Page 14 ¢oniinued...
HAIR AND BEAUTY CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued for the e8r ended 31 Deceer 2023 CHARITABLE AcfiviTIES COSTS Grant nding or activities (see note Support costs (see note 8) DiT¢¢t Costs 7) Totals Charitsble aetivitles 142,610 257 488 GRANTS PAYABLE 2023 2022 Charytable activities 142.610 110.418 The total grants paid to individuals during the year was as follows: 2023 2022 Grants lo individuals 142.610 SUPPORT COSTS Governance ¢osts Management Finance Other Totals Charitable actLVjties 10.404 2.321 232 11,364 24,321 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) 15 Statcd after charging/(credrting): 2023 2022 Depreciation- 0ed assets Other operating leases 213 6,000 135 6,000 Page 15 continued...
HAIR AND BKAUTY CHARITY NOTES TO THE FINANCIAL STATEMENTS- eontl for tbe ear end io. TRUSTEES, RENERATION AND BENKFIIS There were no trustces, remuneration or other benefits for the year ended 31 December2023 nor for the year ended 31 December 2022. Trnstees expenses Ther¢ were no trustee5' expetjses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. STAFF COSTS 202.3 2022 Wages and salaries Social security costs Oth¢r pension costs 75.OIK) 2.839 2.718 68,000 2.254 80,557 The average monthly number of employees during the year wos as follows.. 2023 2022 Administration No employees reeeived emoluments in exeess of £60.000. The averdge nUMr of employee5 during the year was 2. 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENI)OWMENTS FROM Donations and1¢8aci¢s 102,434 102,434 Fundrai51r18 Investment in¢ome 114,336 72.087 114,336 Total 288,857 288,857 EXPENDITURE ON Raising funds 34,702 34.702 Ch4rftsble #ctlvltles ChariLqble activities 215796 Total 250,498 250 498 Page 16 ¢ontinued...
HAIR AND BEAUTY CHARITY NOTES TO THE FINANCIAL STATEMENTS- c for the eare r 2023 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted fund Restricted fund Total funds Net gainsl(losses) on investments 315.071) 315,0711 NET INCOMEI(EXPENDITURE) (276.712) (276,7121 RECONCILIATION OF FUNDS Total fund5 brought forward 2.769.063 2,769,063 TOTAL Fuf4DS CARRIED FORWARD 2,492 351 2 492.351 TANGIBLE FIXED ASSETS Ftxture5 Comput¢r equipm¢nt fittings Totals COST At l January 2023 Additions 2.233 1,333 -366 3,566 A¢ 31 Dec¢mb¢r 2023 2.233 1.699 DEPRF.C.IATION At l January 2023 Charge for ye8r 2,23J 1.062 213 3,295 213 At 31 De¢ember 2023 2.233 1.275 3.508 NET BOOK VALUE At 31 December 2023 424 424 At 31 December 2022 271 271 Page 17 continued...
HAIR AND BEAUTY CHARITY NOTES TO THE FINANCIAL STATEMEwr l December 2(125 inue FIXED ASSET INVESTMEwrs Listed investments MARKET VALUE At l January 2023 Revaluation 2.394.466 220.028 At 31 December 2023 2.614.494 NET BOOK VALUE At 31 December 2023 2614494 At 31 December 2022 2.394.466 There were no investtnent assets outside the UK. 15. DEBT01. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debtors 3,750 1.300 4,500 5.050 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other ¢reditors A¢¢ru¢d txpenses 6.368 5.968 14.018 Page 18 continued...
HA Airry CHARITY NCI rthe 17. MOVKMENf IN FUNDS N¢t movement ID funds At 31.12.23 At 1.1.23 UDreJtrlcted funds Gen¢rnl fund 2.492,351 197,209 2.689,560 TOTAL VUNDS 2.492 351 197.209 2 689.560 Net movement in fund& included in the abov¢ are as follows: Incomin8 resources Rcsources expended Gahns and losses Movement in funds unrestrict funds General fund 267.058 (289,877) 220.028 197.209 TOTAL FUNDS 267.058 289,8771 220 028 197.209 Cornp4rntives for rntsvement In funds Net movement in fvnds At 31.12.22 At 1.1.22 unrestrict funds General fund 2.769,063 (276.712) 2,492,351 TOTAL FUNDS 2 769 063 276712) 2.492 351 Comparative net movement in funds. included ID the above are as follows.. In¢oming re50ur¢es Resources exp¢ndcd Gains and losses Movement in funds Unrestricted fund$ General fund 288.857 (250.498) {315.071) (276,712} TOTAL FUNDS 288.857 250.498) 315.071) 276.712) Pa8e 19 continucd...
HAIR AND BEAUTY CHARr NOTES TO THE IAL TATEMTrS- continued T eTrded 31 DectJDber 21123 17. MOVEMENT IN FUNDS- tontiThued Leonard L¢wis Fund The Leonard Lewis Fund was established to provide finan¢ial wistance lo Mr Lconard Lewis who was an eligible beneficiary of th¢ Hair & Beauty B¢nevolent Society. at the direction of the trustees. Leonard Lewis died on 30 November 2016. During the previous ytar. it was decided that ihe r¢siri¢t¢d funds brought forward of £13.815 is to transferTed to ihe w)restri¢ted fund until it is d¢¢ided where to sPed the money. 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 19. INDEPENDENT EXAMINERS FEES The Independent Examiners fees for th¢ p¢ri¢)d were £5.364. Page 20