Company registration number: 11522658 Charity registration number: 1181769
Period Power
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 August 2021
Daryl Denson ACMA The Dudson Centre Hope Street Hanley Stoke-on-Trent Staffordshire ST1 5DD
Period Power
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 14 |
Period Power
Reference and Administrative Details
Trustees Rosemarie Hunter Linda Allbutt Susan Moffat Verity Venter Sukey Fisher Alison Briggs Principal Office 3 Byanna Grange Swynnerton Road Eccleshall Staffordshire ST21 6LD The charity is incorporated in England. Company Registration Number 11522658 Charity Registration Number 1181769 Independent Examiner Daryl Denson ACMA The Dudson Centre Hope Street Hanley Stoke-on-Trent Staffordshire ST1 5DD
Page 1
Period Power
Trustees Report (incorporating the Directors' Report)
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2021.
Objectives and activities
Objects and aims
To eradicate period poverty by supplying charity partners with period products so that all women and girls will have access to the correct period protection. To raise awareness of period poverty and to remove the stigma surrounding periods.
To supply sanitary products to women and girls who otherwise would not have access to them.
Objectives, strategies and activities
We have supplied over 100 charities and Foodbanks over the last twelve months. Since the pandemic we have included toiletries, baby products and cleaning products as they have been requested by our partners. Naturally, we have also provided our core products being period pads and tampons. Our outgoings each month has increased drastically since the pandemic due to the increase in the local need for support.
The hours given during the last twelve months have increased due to the demand on our services. The average weekly hours given on a voluntary basis are approximately 25 hours per week.
Public benefit
Holding workshops and meetings to educate and raise awareness around the issues of period poverty. We have supplied over 150 Foodbanks and charities and 220 schools with period products and sanitary products.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
We have increased the number of hours volunteered and the amount of money spent on supplying products to our charity partners. We have also almost brought to fruition the publishing of a book called All Things Periods. This should be published by the end of 2021 and is a compilation of contributions made by our followers of their experiences of periods and menstruation.
We have also worked with two more Fire Services so that they are now Period Dignity employers. This has been done by supplying them with the initial stock of period products to be placed in their staff and public toilets throughout their areas. We have now supplied Staffs Fire Service, Derbyshire Fire Service and West Midlands Fire Service.
We have also worked to raise awareness of the impact on the environment on single use products and are trying to encourage the use of reusable products.
Financial review
We have been successful in gaining funding from a number of Trusts and Foundations and this has given us the capability of growing the numbers of charity partners we work with and the quantities of products we can supply.
Policy on reserves
Our reserve is £15,000 and this has been decided because this will give us 2 years operational costs if we have to resort to just supplying period products. Free reserves at the end of the period stood at £74,015 (2020: £62,424)
Page 2
Period Power Trustees Report (incorporating the Directors, Report) Trustees and offJ¢ers The Lrusiees and officers serving during the y¢ar and since the year end were as follows.. Truslees.. Rosemarie Hunter Linda Allbutt Susan Moftat Verity V¢nl¢r {appointed S August 20211 Sukey Fisher Alison Briggs Struetur4 goverDancL and mAnA¥¢m¢nt }Vre ufgovernin¥ aocumenl Meinorandum and arti¢l¢$ incorporaled 17 August 2018 as am¢nd¢d by special resolulion r¢gisl¢r¢d kl Companies house on 23 January 2019. Recruitment uppvlftimemt of Irusleeb New trustees are appoinied by the currenL body of inJ$tees. Sm411 ¢omp4ny provlslo This report has been pr¢pared in accordance with ihe special provisions for small coinpanies under phrt 15 of the Companies Act 2006. The annual report was approved by th¢ trustees of th¢ charity on I I Xknd sign¢d on its behalf by.. Linda Allbult Trustee Page 3
Period Power
Independent Examiner's Report to the trustees of Period Power ("the Company")
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 August 2021 which are set out on pages 5 to 14.
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 Period Power 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
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:
-
accounting records were not kept in respect of Period Power as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
...................................... Daryl Denson ACMA
The Dudson Centre Hope Street Hanley Stoke-on-Trent Staffordshire ST1 5DD
14/01/2021 Date:.............................
Page 4
Period Power
Statement of Financial Activities for the Year Ended 31 August 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 |
Unrestricted funds £ 34,651 34,651 (23,060) (23,060) 11,591 11,591 62,424 74,015 Unrestricted funds £ 63,394 63,394 (21,818) (21,818) 41,576 41,576 20,848 62,424 |
Restricted funds £ 5,000 5,000 (1,476) (1,476) 3,524 3,524 8,430 11,954 Restricted funds £ 8,430 8,430 - - 8,430 8,430 - 8,430 |
Total 2021 £ 39,651 |
|---|---|---|---|
| 39,651 | |||
| (24,536) | |||
| (24,536) | |||
| 15,115 | |||
| 15,115 70,854 |
|||
| 85,969 | |||
| Total 2020 £ 71,824 |
|||
| 71,824 | |||
| (21,818) | |||
| (21,818) | |||
| 50,006 | |||
| 50,006 20,848 |
|||
| 70,854 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 10.
The notes on pages 7 to 14 form an integral part of these financial statements. Page 5
Period Power (Registration number: 11522658) Balance Sheet as at 31 August 2021 2021 2020 Note Current assets Cash al bank and in hand 86.329 71,214 Creditors: Amounts f*lllng due wlthln on¢ y¢ar (360) 1360) Net a55ets 85,969 70,854 Fund$ of the ¢harlty: Rostrlctod Ineome fnds R¢stricl¢d funds 11,954 8,430 Unre$trl¢ted Incotne funds Unrestricted funds 74,015 62,424 TotAI fund8 10 70,854 For the financial year ending 31 Aiigusl 2021 the charity was enlitled to exemption from audil under section 477 of ihe Coinpani¢s Act 2006 rclaling lo sinall companies. Dir¢¢ior5' re$pDnsibiliiie$'. The members have not required the charity to obtRin ao audii of ils a¢counts for the year in question in accordance with section 476,. and The direLlors a¢knowl¢dg¢ ih¢ir responsibilities for complying with the requiremenls of the Ael with respect to accounling records and the preparation of CCOILnis. The financial slalenients on pages 5 to 14 wer¢ approved by the trustees, and auihorised for issue on n their behalf by. . and signed Linda Allbult Trnstee The notes on pages 7 to 14 forni an integral part of these financial statements. Page 6
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The principal place of business is: 3 Byanna Grange Swynnerton Road Eccleshall Staffordshire ST21 6LD
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Period Power meets the definition 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 7
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those received for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
3 Income from donations and legacies
| Donations and legacies; Donations from local government Donations from individuals Donations from community groups Grants, including capital grants; Grants from other charities Donations and legacies; Donations from local government Donations from individuals Donations from community groups Gift aid reclaimed Grants, including capital grants; Grants from other charities |
Unrestricted funds General £ 7,000 4,827 2,824 20,000 34,651 Unrestricted funds General £ 6,001 8,489 4,933 471 43,500 63,394 |
Restricted funds £ - - - 5,000 5,000 Restricted funds £ - - - - 8,430 8,430 |
Total 2021 £ 7,000 4,827 2,824 25,000 |
|---|---|---|---|
| 39,651 | |||
| Total 2020 £ 6,001 8,489 4,933 471 51,930 |
|||
| 71,824 |
Page 9
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
4 Expenditure on charitable activities
| Storage Goods Insurance Legal and professional fees Printing, postage & stationery IT costs Travel Independent Examination Goods Insurance Legal and professional fees Printing, postage & stationery Travel Independent Examination Bank charges |
Activity undertaken directly £ 1,476 17,840 396 253 213 114 3,884 360 24,536 Activity undertaken directly £ 18,114 390 76 370 2,454 360 54 21,818 |
2021 £ 1,476 17,840 396 253 213 114 3,884 360 |
|---|---|---|
| 24,536 | ||
| 2020 £ 18,114 390 76 370 2,454 360 54 |
||
| 21,818 |
£23,060 (2020 - £21,818) of the above expenditure was attributable to unrestricted funds and £1,476 (2020 - £Nil) to restricted funds.
Page 10
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
5 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 360 360 Unrestricted funds General £ 360 360 |
Total 2021 £ 360 |
|---|---|---|
| 360 | ||
| Total 2020 £ 360 |
||
| 360 |
Page 11
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
6 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Linda Allbutt
£2,019 (2020: £1,595) of expenses were reimbursed to Linda Allbutt during the year.
Ruth Rosenau
- £1,768 (2020: £395) of expenses were reimbursed to Ruth Rosenau during the year.
Rosemarie Hunter
£Nil (2020: £73) of expenses were reimbursed to Rosemarie Hunter during the year.
Verity Venter
- £97 (2020: £Nil) of expenses were reimbursed to Verity Venter during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any other benefits from the charity during the year.
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Cash and cash equivalents
| Cash at bank 9 Creditors: amounts falling due within one year Accruals |
2021 £ 86,329 2021 £ 360 |
2020 £ 71,214 |
|---|---|---|
| 2020 £ 360 |
Page 12
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
10 Funds
Unrestricted funds
| Unrestricted funds General General fund Restricted funds Tampon tax Newby Trust Total restricted funds Total funds Unrestricted funds General General fund Restricted Tampon tax Total funds |
Balance at 1 September 2020 £ 62,424 8,430 - 8,430 70,854 Balance at 1 September 2019 £ 20,848 - 20,848 |
Incoming resources £ 34,651 - 5,000 5,000 39,651 Incoming resources £ 63,394 8,430 71,824 |
Resources expended £ (23,060) - (1,476) (1,476) (24,536) Resources expended £ (21,818) - (21,818) |
Balance at 31 August 2021 £ 74,015 8,430 3,524 |
|---|---|---|---|---|
| 11,954 | ||||
| 85,969 | ||||
| Balance at 31 August 2020 £ 62,424 8,430 |
||||
| 70,854 |
The specific purposes for which the funds are to be applied are as follows:
Tampon Tax - Funding received from the Community Foundation for Staffordshire as part of the Tampon Tax Community Grant Programme
Newby Trust - Funding for storage facilities
Page 13
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2021
11 Analysis of net assets between funds
| 11 Analysis of net assets between funds | |||
|---|---|---|---|
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 74,375 (360) 74,015 Unrestricted funds General £ 62,784 (360) 62,424 |
Restricted funds £ 11,954 - 11,954 Restricted funds £ 8,430 - 8,430 |
Total funds at 31 August 2021 £ 86,329 (360) |
| 85,969 | |||
| Total funds at 31 August 2020 £ 71,214 (360) |
|||
| 70,854 |
12 Related party transactions
There were no related party transactions in the year.
Page 14