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Trustees’Annual Report for the year ended 31 December 2022
Financial Review
Income and Expenditure during the year
In the 2022 reporting period The Baby Bank received £156,145 in grants, donations
and sales activities, an increase of over 124% on the previous year (2021: £69,788).
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 200%, to £110,902 in the year
(2021: £36,761) reflecting an increase of 60% in purchases for families in need as
well as our first full year with paid employees and first year with rent costs. 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 2022 The Baby Bank reported an increase in unrestricted funds of
£34,404 and an increase in restricted funds of £10,838, representing a total increase
in funds at year end of £45,243.
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 entered in to a three-year rent lease agreement during the year and
therefore hold reserves of £40,000 representing 12 months’ of rent and associated
costs.
The Baby Bank have two part-time employees and hold reserves of £22,000
representing 12 months’ salary and associated costs.
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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.
During the year we relocated to our new premises in Holyport, Maidenhead. Having a permanent and more usable location will help support our future plans to host more volunteer days and improve our cycle of receiving, sorting and gifting more much needed pre-loved basics to families in need.
During 2023 we would like to address the need for support with collection of items by securing a van in order to provide a delivery service, where needed, across our community.
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 01 June 2023.
and signed on their behalf by
J CAFFREY
Joanne Caffrey- Trustee
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Baby Bank Windsor 1179580
Receipts and payments accounts CC16a
For the period 1st January 2022 To 31st December 2022
from
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest to the nearest £ to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Donations 53,502 53,502 16,358
restricted funds 94,743 94,743 50,943
Charitable activities 7,900 7,900 2,487
- -
- -
- -
- -
- -
Sub total (Gross income for
AR) [ 61,402 ] 94,743 - 156,145 69,788
Total receipts 61,402 94,743 - 156,145 69,788
A3 Payments
Charitable activities 48,905 48,905 30,617
Website 574 574 813
Other 2,592 2,592 460
Rent 11,557 25,000 36,557 -
Insurance 237 237 84
Staff costs 16,507 5,000 21,507 4,626
IT costs 60 60 60
Travel 471 471 101
- -
Sub total [ 31,998 ] 78,905 - 110,902 36,761
Total payments 31,998 78,905 - 110,902 36,761
Net of receipts/(payments) 29,404 15,838 - 45,243 33,027
A5 Transfers between funds - - - - -
A6 Cash funds last year end 42,079 45,545 - 87,624 54,597
Cash funds this year end 71,483 61,383 - 132,867 87,624
Funds restated between Unrestricted/Restricted
0
Section B Statement of assets and liabilities at the end of the period
Unrestricted Restricted funds Endowment
Categories Details funds funds
to nearest £ to nearest £ to nearest £
B1 Cash funds Cash at Bank 71,483 61,383
rounding - -
- - -
Total cash funds 71,483 61,383 -
(agree balances with receipts and payments
account(s)) OK OK OK
Unrestricted Restricted funds Endowment
funds funds
Details to nearest £ to nearest £ to nearest £
B2 Other monetary assets - - -
- - -
- - -
- - -
- - -
- - -
Details Fund to which asset belongs Cost (optional) Current value (optional)
B3 Investment assets - -
- -
- -
- -
- -
Details Fund to which asset belongs Cost (optional) Current value (optional)
B4 Assets retained for the - -
charity’s own use - - - -
- -
- -
- -
- -
- -
- -
Fund to which Amount due When due
Details liability relates (optional) (optional)
B5 Liabilities -
-
-
-
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Signed by one or two trustees on behalf of all the trustees Signature Print Name approvalDate of
J Caffrey J Caffrey 25/04/2023
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Sectlon A Independent Examiner's Report Report to the trusteesl members of .haritv The Baby Bank On accounts for the year ended 31 December 2022 Charity no (if any) 1179580 Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 3111 u£u As the charity trustees of the Trust, you are responsible for the preparation Responsibilities and of the accounts in accordance with the requirements of the Charities Act basis of report 2011 ("the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below ") in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please lete the words in the brackets if they do not apply. Signed: Date: 25104123 Name: JULIE TURK nee Larkin Relevant professional qualification(s) or body (if any): ACA Address: VL ctsJo . Q& IL( &LE IER October 2018