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Trustees’Annual Report for the year ended 31 December 2021
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Financial Review
Income and Expenditure during the year
In the 2021 reporting period The Baby Bank received £69,788 in grants, donations and sales activities, an increase of over 34% on the previous year (2020: £52,040).
This increase was driven by a rise in grants and funding received as well as an increase in donations received by individuals and families within our community.
Total expenditure during the year increased by over 74%, to £36,760 in the year (2020: 21,121) reflecting an increase of 50% in purchases for families in need as well as our first year with paid employees (from October 2021). Baby Bank expenditure is predominantly used to respond to requests by support workers to provide for our families in need of basic essentials.
Donations-in-kind are not reflected in the income or expenditure within our financial statements but represent a significant additional donation stream and route for fulfilling our referral needs.
Summary of movement of restricted and unrestricted funds
At 31 December 2021 The Baby Bank reported an increase in unrestricted funds of £15,648 and an increase in restricted funds of £17,379, representing a total increase in funds at year end of £33,027.
This increase is due to the timing of grants received and the establishment of a reserves policy to cover staff salaries and future rent requirements.
Reserves Policy
The Baby Bank has assessed the risks and opportunities for the year ahead and based on these the trustees have agreed our reserves policy.
The Baby Bank is not reliant upon one single event, donation or grant nor committed to any single significant expense.
The Baby Bank is currently located in rent-free premises which we believe would be an expense of around £35,000 should we be required to relocate. We therefore hold reserves of £12,000 representing a substantial proportion of an annual rental charge.
Staffing
With the help of a National Lottery grant, we are delighted to announce that two of the trustees of The Baby Bank have resigned and have become our first paid employees, sharing the newly created role of General Manager, responsible for determining and implementing strategy as well as the day-to-day running of our busy charity.
Future Plans
The Baby Bank has developed a strong reputation and record for delivery in the local neighbourhood and we have an ambition to meet the increasing needs of our communities.
We are currently located in the heart of our community in premises kindly donated for free. However, due to regeneration within the centre of Maidenhead we will be locating during 2022.
Statement of responsibilities of the Trustees
The Trustees are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them
to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustees’ annual report has been approved by the Trustees on 13 June 2022.
and signed on their behalf by
J CAFFREY
----------------------------Joanne Caffrey- Trustee
C14ARITY COMMISSIO Receipts and payments accounts CC16a For the period To Section A Receipts and payments Unrestricted funds Restricted funds Endowment funds Total funds Last year to the nearest to the nearest £ to the nearest £ to the nearest £ to the nearest £ A1 Receipts Donations 16,358 16,358 13,107 35.046 3,886 restncted funds Chantable activities 2,487 2,487 Sub total (Gross income forAR) A2 Asset and investment sales, (see table). 18,845 50.943 69.788 52,040 Sub totsl 18,845 50,943 69,788 52,040 A3 Payments Charitsble ath'vits"es 1,679 813 28,938 30,617 813 20,962 Website Other 460 460 24 Rent Insurance 84 134 Staff costs 4,626 4,626 60 IT costs 60 Travel 101 101 Sub total 3.197 33,564 36,761 21,121 A4 Asset and investrnent urchases see table Sub total 3,197 33,564 36,761 21,121 Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end. Cash funds this year end Funds restated between UnrestrictedlRestricted 15,648 17,379 33,027 30,919 26,431 42,079 28,166 45,545 54,597 87,624 23,678 54,597
Section B Statement of assets and Ilabilitles at the end of the perlod Unrestricted funds to neast £ Restricted funds to nearest £ Endowment funds to nearest £ B1 Cash funds Cash at Bank 42,664 45,$45 Money In transit at year end 585 Total cash funds 42,079 45,545 (agree balatKes reCp1S and payments account(s)) Unrestricted funds to nearest £ Restricted funds to nearest £ Endowment funds to nearest £ B2 Other monetsry assets Rent deposit Fund to whlch asset belongs Current value (optlonal) Cost (optional) Fund to whlch asset belongs Details Cost (optional) Current value (optlonal) B4 Assets retsined for the charity's own use Fund to which liabllity relates Amount due (optlonal) When due (optlonal) Details B5 Liabilities Signed by one or two trustees on behalf of all the trustees Print Name Date of roval Signature 13/06/2L
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Report to the trusteesl members of The Baby Bank On accounts for the year ended 31 December 2021 Charity no (if any) Set out on pages I report to the trustees on my examination of the accounts of the above charity ('the Trusf) for the year ended Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acf). I report in respect of my examinats'on of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Indepondent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: • the accounting records were not kept in accordan with section 130 of the Charities Ac( or • the accounts did not accord with the accounting records. or • the accounts did 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. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: Name: LL Relevant professional qualification(s) or body (if any): rcAEQ -AcA Address: Only complete if the examiner needs to highlight material matters of conrn (see CC32, Independent examination of charity accounts: directions and