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 2023
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 4 |
| Independent Auditors' Report | 5 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 17 |
Period Power
Reference and Administrative Details
Trustees Rosemarie Hunter Linda Allbutt Susan Moffat Verity Venter Alison Briggs Sharon Pender 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 and auditors' report of the charitable company for the year ended 31 August 2023.
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
We have supplied over 200 schools and over 200 charities, foodbanks and organisations with period products to try to support their work .
We have also organised workshops and events to raise awareness of period poverty and to educate people in the use of reusable products.
We have published a book "All Things Periods" which is a collaboration between ourselves and our followers on social media which discusses periods in general and how they can affect the lives of women and girls.
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.
Use of volunteers
All of our Trustees and volunteers give their time freely and we have
nobody on a payroll. Hours per month vary greatly but on average they will be around 100 per month.
Page 2
Period Power
Trustees Report (incorporating the Directors' Report)
Achievements and performance
Each year we start with the hope that our work will be done at some point soon and we finish with the realisation that we have been busier than ever. That's exactly what happened again this year.
We were hoping that the end of Covid lock-down would see fewer organisations needing our support but the year was filled with bad news, including the massive increase in gas and electricity prices followed by the big increase in the cost of living.
We have supported even more organisations than before and many of these are in the neighbouring county of Cheshire. We have also been approached by a number of NHS Trusts, Medical Centres and GP surgeries which is an indicator of the growing need of basic hygiene products.
We have also worked closely with two local football clubs, Stoke City and Port Vale to support them in becoming Period Dignity clubs.
We have also worked with Staffordshire Football Association in supplying them with period products to be distributed to all grass roots teams so that all our girls can have access to the correct period protection, whether playing sport or just going about their daily lives.
We have continued our work raising awareness of alternative reusable period products and have had many events during the year promoting them.
We have recently published our second book (the first being All Things Periods) which is called All Things Menopause and we will be holding an official book launch towards the end of October 2023.
All of this work would not have been possible without the continued support of our “monthly gifters” and the funding which has been granted.
Financial review
Policy on reserves
Our reserve policy is to hold is £15,000 and this has been decided because this will give us 12 month operational costs if we have to without any grants. Free reserves at the end of the period stood at £90,942 (2022: £77,918)
Structure, governance and management
Nature of governing document
Memorandum and articles incorporated 17 August 2018 as amended by special resolution registered at companies house on 23 January 2019.
Recruitment and appointment of trustees
New trustees are appointed by the current body of trustees.
Small company provision
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
Page 3
Period Power Trustees Report (incorporating the Directors, Report) Disclosure of inforn]ation to auditor Each trustee has taken sleps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit inforn]ation and to establish that the charity's auditor is aware of that infonnation. The trustees confirni that there is no relevant infonnation that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity o and signed on its behalf by: Linda Allbutt Trustee Page 4
Period Power
Independent Auditor's Report to the Members of Period Power
Opinion
We have audited the financial statements of Period Power (the 'charity') for the year ended 31 August 2023, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 5
Period Power
Independent Auditor's Report to the Members of Period Power
Opinion on other matter prescribed by the Companies Act 2006
-
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the (set out on page ), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 6
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 2023 which are set out on pages 8 to 17.
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
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
14/02/2024 Date:.............................
Page 7
Period Power
Statement of Financial Activities for the Year Ended 31 August 2023 (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/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 |
Unrestricted funds £ 15,904 15,904 (2,880) (2,880) 13,024 13,024 77,918 90,942 Unrestricted funds £ 11,326 11,326 (7,423) (7,423) 3,903 3,903 74,015 77,918 |
Restricted funds £ 31,000 31,000 (21,308) (21,308) 9,692 9,692 540 10,232 Restricted funds £ 6,000 6,000 (17,414) (17,414) (11,414) (11,414) 11,954 540 |
Total 2023 £ 46,904 |
|---|---|---|---|
| 46,904 | |||
| (24,188) | |||
| (24,188) | |||
| 22,716 | |||
| 22,716 78,458 |
|||
| 101,174 | |||
| Total 2022 £ 17,326 |
|||
| 17,326 | |||
| (24,837) | |||
| (24,837) | |||
| (7,511) | |||
| (7,511) 85,969 |
|||
| 78,458 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 10.
The notes on pages 10 to 17 form an integral part of these financial statements. Page 8
Period Power (Registration number: 11522658) Balance Sheet as at 31 August 2023 2023 2022 Note Current assets Cash at bank and in hand 101,570 78,836 Creditors: Amounts falling due within one year (396) (378) Net assets 101,174 78,458 Funds of the charity: Restricted income funds Restricted funds 10,232 540 Unrestricted income funds Unrestricted funds 90,942 77,918 Total funds 10 101,174 78,458 For the financial year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial ststements on pages 8 to 17 were approved by the trustees, and authorised for issue on 2.9._..l.. 'Z*and signed on their behalf by: Linda Allbutt Trustee The noles on pages 10 to 17 forn] an integral part of these financial statements. Page 9
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
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.
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 10
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
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 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.
Page 11
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
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.
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 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 £ 14,904 1,000 - 15,904 Unrestricted funds General £ 2,650 4,419 1,238 519 2,500 11,326 |
Restricted funds £ - - 31,000 31,000 Restricted funds £ - - - - 6,000 6,000 |
Total 2023 £ 14,904 1,000 31,000 |
|---|---|---|---|
| 46,904 | |||
| Total 2022 £ 2,650 4,419 1,238 519 8,500 |
|||
| 17,326 |
Page 12
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
4 Expenditure on charitable activities
| Advertising Donation Storage Goods Insurance Legal and professional fees Printing, postage & stationery Travel Independent Examination Sundry expenses Subscriptions Events Advertising Donation Storage Goods Insurance Legal and professional fees Printing, postage & stationery IT costs Travel Independent Examination Accountancy software Sundry expenses |
Activity undertaken directly £ 50 157 5,308 12,179 329 13 2,731 2,445 414 2 410 150 24,188 Activity undertaken directly £ 700 1,370 2,984 14,871 526 13 1,305 474 1,826 378 240 150 24,837 |
2023 £ 50 157 5,308 12,179 329 13 2,731 2,445 414 2 410 150 |
|---|---|---|
| 24,188 | ||
| 2022 £ 700 1,370 2,984 14,871 526 13 1,305 474 1,826 378 240 150 |
||
| 24,837 |
£2,880 (2022 - £7,423) of the above expenditure was attributable to unrestricted funds and £21,308 (2022 - £17,414) to restricted funds.
Page 13
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
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 £ 414 414 Unrestricted funds General £ 378 378 |
Total 2023 £ 414 |
|---|---|---|
| 414 | ||
| Total 2022 £ 378 |
||
| 378 |
Page 14
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
6 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Linda Allbutt
£2,085 (2022: £1,493) of expenses were reimbursed to Linda Allbutt during the year.
Sharon Pender
£3 (2022: £Nil) of expenses were reimbursed to Sharon Pender during the year.
Verity Venter
£228 (2022: £209) 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
| 8 Cash and cash equivalents |
||
|---|---|---|
| Cash at bank 9 Creditors: amounts falling due within one year Accruals |
2023 £ 101,570 2023 £ 396 |
2022 £ 78,836 |
| 2022 £ 378 |
Page 15
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
10 Funds
Unrestricted funds
| Unrestricted funds General General fund Restricted funds Mercer Charitable Foundation Newby Trust Tackling Financial Hardship Fund National Lottery Total restricted funds Total funds Unrestricted funds General General fund Restricted Tampon tax Mercer Charitable Foundation Newby Trust Albert Hunt Foundation Total restricted funds Total funds |
Balance at 1 September 2022 £ 77,918 - 540 - - 540 78,458 Balance at 1 September 2021 £ 74,015 8,430 - 3,524 - 11,954 85,969 |
Incoming resources £ 15,904 5,000 5,000 11,000 10,000 31,000 46,904 Incoming resources £ 11,326 - 5,000 - 1,000 6,000 17,326 |
Resources expended £ (2,880) (5,000) (5,308) (11,000) - (21,308) (24,188) Resources expended £ (7,423) (8,430) (5,000) (2,984) (1,000) (17,414) (24,837) |
Balance at 31 August 2023 £ 90,942 - 232 - 10,000 |
|---|---|---|---|---|
| 10,232 | ||||
| 101,174 | ||||
| Balance at 31 August 2022 £ 77,918 - - 540 - |
||||
| 540 | ||||
| 78,458 |
Page 16
Period Power
Notes to the Financial Statements for the Year Ended 31 August 2023
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.
Tackling Financial Hardship Fund - for the purposes of tackling financial hardship.
National Lottery - Seeing Red Going Green Conference and Workshops to begin January 2024.
11 Analysis of net assets between funds
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 91,338 (396) 90,942 Unrestricted funds General £ 78,296 (378) 77,918 |
Restricted funds £ 10,232 - 10,232 Restricted funds £ 540 - 540 |
Total funds at 31 August 2023 £ 101,570 (396) |
|---|---|---|---|
| 101,174 | |||
| Total funds at 31 August 2022 £ 78,836 (378) |
|||
| 78,458 |
12 Related party transactions
There were no related party transactions in the year.
Page 17