Charity Number: 1182283
Band of Builders Financial Statements for the year ended 28 February 2022
Band of Builders
Financial Statements
for the year ended 28 February 2022
INDEX
| Legal and Administrative Information | 1 |
|---|---|
| Trustees' Annual Report | 2 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 - 17 |
Band of Builders
Legal and Administrative Information
for the year ended 28 February 2022
| Trustees | D.M. Seal | Chairman | (Appointed 1 May 2022) |
|---|---|---|---|
| G. Crane | Chairman | (Resigned 1 May 2022) | |
| M.A. Armstrong | Treasurer | (Appointed 23 March 2022) | |
| L. Stevenson | |||
| S.T. McCormick | |||
| P. Cape | Appointed (7 February 2022) | ||
| T.P.J Height | Appointed (7 February 2022) | ||
| M. McGee | Appointed (7 February 2022) | ||
| H.C. Newberry | (Appointed 23 March 2022) | ||
| S.L. Hanks | (Appointed 23 March 2022) | ||
| R.A. Dambrowski | (Appointed 23 March 2022) | ||
| A/B. Callow | (Appointed 23 March 2022) | ||
| E.C. Manning | Resigned (7 February 2022) | ||
| Registered office | Band of Builders | ||
| and principal office | PO Box 235 | ||
| Wisbech | |||
| PE14 4FA | |||
| Charity Registered Number | 1182283 | ||
| Bankers | Unity TrustBank PLC | ||
| PO Box 7193 | |||
| Planetary Road | |||
| Willenhall | |||
| WV1 9DG | |||
| Barlcay Bank PLC | |||
| 12 Old Market | |||
| Wisbech | |||
| PE13 1NN | |||
| Independent Examiner | K J Maggs F.C.A. | ||
| Moore Thompson | |||
| Bank House | |||
| Broad Street | |||
| Spalding | |||
| Lincs | |||
| PE11 1TB |
Page 1
Band of Builders
Trustees' Annual Report
for the year ended 28 February 2022
The trustees present their report with the financial statements for the year ended 28 February 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the
Structure, governance and management
Governing document
Band of Builders is registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission with charity registered number 1182283, under a constitution approved by the Trustees on 28 February 2019.
Trustees
The trustees in position throughtout the year are shown on page 1.
Appointment of trustees
A prospective trustee must be formally proposed and approved by the current trustees.
Objectives
The charity works for the public benefit having as its objectives the relief of those in need by reason of ill health or disability who work within the construction industry:
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Co-ordinating and developing services to support construction members, their families and dependants,
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Providing modifications to accommodation to enhance quality of life
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Promoting their health and wellbeing
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Providing relevant financial support 5. Providing support through the wider Band of Builders family
Activities
Band of Builders was originally founded by Addam Smith in 2016 with the intention of gathering together a group of volunteers from within the construction industry to help landscape the garden of Keith Ellick, one of his employees who had been diagnosed with terminal cancer.
The plan escalated and developed into a full scale house renovation which involved volunteers from right across the country. The project ultimately enabled the property to be purchased and put into trust for the protection and comfort of Keith's family.
Since this time, Band of Builders became unstoppable with one project leading to a second and soon evolved into multiple projects of various sizes. Members of the construction industry and their families have united to help with work on the projects, materials, fundraising events and activities, together with monetary and emotional support.
Band of Builders regularly works in conjunction with Industry partners such as DeWalt, the Talasey group, Advent Tools, Lee Brothers, Jewson along with the large number of volunteers and suppliers who provide materials, tools and especially the time to assist with all the projects. It is a fact that without any one of you, we could not do what we have been able to do for people in need of help within our industry.
Volunteer help
Band of Builders relies very heavily on volunteers who give up their free time to help others. It has its own Facebook community and website with the social media tag #TogetherStronger.
Page 2
Band of Builders
Trustees' Annual Report (continued)
for the year ended 28 February 2022
Achievements and performance
The results and financial position of the charity for the financial year are detailed on pages 10 to 17.
Charitable Projects
During 2021/22, seven projects were completed:
Andy's Project
The Objective
Following a serious car accident, Andrew’s extensive injuries meant that he was unable to finish a number of DIY projects that he had started before being hospitalised. This is where Band of Builders stepped in and our aim was to complete these jobs for Andrew and his family - enabling the family to once again enjoy their garden and to make accessibility easier and safer for Andrew.
Background
Andrew, 56 from Lennox town, Glasgow, who lives with his wife Pamela and their son, started his career as a joiner and progressed to become clerk of works and inspector with Glasgow District Council. He was involved in a near-fatal car accident in October 2014, which left all of his ribs broken and caused widespread injury including a crushed hip and pelvis and internal damage. He suffered multiple complications, which led to him being hospitalised for a year, enduring 26 operations as well as contracting pneumonia and septic shock.
The Project
Band of Builders carried out a range of jobs to make access to Andrew’s home and garden easier and safer, with 9 volunteer tradespeople spending 36 labour hours transforming Andy's garden in just 4 days. The construction team also extended the fishpond upwards with sleepers, carried out electrical works to the pond filters and shed and installed a gazebo over the pond.
The BoB team also erected a shed and built a small patio area, levelling and re-laying the lawn, adding a ramp from the back door into the garden and laying flooring to the kitchen.
Cher’s Project
The Objective
Cher has had both feet amputated and has suffered damage to her hands after developing Meningococcal Septicaemia. Her condition means she currently lives in the living room which is the main downstairs area of her home in Flintshire. Cher now occupies this room 24/7, with her bed and wheelchair taking up a lot of the space in what is the main living area of the family home, and giving her no privacy.
Band of Builders made a range of adaptations to Cher’s home to ensure it was safe and wheelchair accessible, giving Cher more independence to enjoy her home and cook for her family again. It has also given them back their family living area.
Background
Cher, 46, lives at home in Flintshire with her partner Mark, a plasterer. They have two children, Georgia, 22 and Ryan, 18. In October 2020, Cher contracted Meningococcal Septicaemia, a bacterial infection that enters the bloodstream, multiplies uncontrollably, and damages the walls of the blood vessels and organs. It can also lead to brain damage, skin damage, amputations and even death.
Page 3
Band of Builders Trustees' Annual Report (continued)
for the year ended 28 February 2022
Charitable Projects continued…
Cher’s Project (continued)
Background (continued)
Having gone into septic shock, Cher’s family were told she only had a 20% chance of survival as her organs had started to shut down. However, after a long three-and-a-half month battle for her life, Cher pulled through but both her legs were amputated below the knee. Her hands are also severely damaged; she no longer has feeling in them, although she does have limited use. She has visible scars from her infection which has left significant damage, as well as damage to various organs. Cher is due to be fitted for prosthetics but will still have limited usage due to the pressures it will put on her amputated limbs. Therefore, wheelchair use will still be a major part of her life going forward.
The Project
Band of Builders aimed to help Cher and her family by increasing the size of their living area. Having expanded the current extension, the team also added a new low-level kitchen, wet room and refitted Cher’s bedroom. By removing internal walls and widening doorways, together with ramped access outside, the team have made the family home wheelchair accessible which will also give Cher more independence.
A renovation on this scale would normally take up to four months, but the team from BoB completed the project in just 31 days. Cher was left speechless when the charity handed her home back for her to move back into. An overjoyed Cher said: “ I couldn't imagine how it was going to be - but this is absolutely incredible, and I can’t thank all of the volunteers enough for what they’ve done in giving me loads of living space. It’s been a real struggle, but Band of Builders has given me my freedom back and I can be happy again .”
Tom's Project
The Objective
Former bricklayer Tom Knapper from Stoke-on-Trent was recently diagnosed with cancer of the liver (which is currently under control), has had two heart attacks and also suffers from arthritis. His illnesses mean that he can no longer maintain the house he built for his family in 1970 – and it was starting to fall into a state of disrepair. Band of Builders made a series of vital repairs on his home, but the standout feature of this project was the opportunity for Tom to speak to our team of tradespeople – because he had really missed the camaraderie on a building site since he retired. He told local media that he’d seen more people in one weekend than for the last couple of years (because of Covid restrictions).
Background
Tom Knapper is a former bricklayer with a career that spanned more than 50 years. He was too young to be called up to fight in World War II and instead helped build new council homes for returning war veterans. He worked on a site in Bentilee, Stoke-on-Trent, which at the time was the largest new council estate in the UK. During his 50-year career, Tom also repaired the brickwork inside bottle ovens that were used in the local pottery industry – this was a skill that few brickies were able to master. Tom’s health has deteriorated and, coupled with the passing of his wife June a couple of months before the pandemic, he has been unable to maintain his bungalow.
It was Tom’s son Adrian who contacted Band of Builders asking for help for his dad after seeing the widespread news coverage of the home transformation that volunteers carried out for Robert Lamb, a quantity surveyor from Solihull who was left paralysed after suffering a severe spinal cord injury when he fainted due to low blood pressure.
Page 4
Trustees' Annual Report
Trustees' Annual Report (continued)
Trustees' Annual Report
Charitable Projects continued…
Tom's Project (continued)
The Project
The project was undertaken over a weekend in December 2021. As Tom is no longer able to keep up the maintenance on the house that he built himself, Band of Builders carried out a series of repairs and renovations in three key areas. The garage roof required work to repair leaks and make it watertight again – this was especially important because Tom spends a lot of time in his garage. The central heating system required a much-needed service to improve the warmth in Tom’s home. This also included changing the taps in the house to levers to make them easier for Tom to operate, due to his arthritis. The paved steps outside the front door had become a trip hazard for the 93-yearold, and these were replaced to create a flat, sturdy walking surface.
Howard’s Project
The Objective
Our aim was to make adaptations to Howard's property to allow him to return home to his family from the live-in brain injury unit in Garforth where he was receiving treatment.
Background
Over two years ago, in April 2020 Howard Holden, a 54 year old Building Surveyor from Oswaldtwistle in Lancashire suffered unexplained heart failure in his sleep. Howard has worked in the building trade for most of his working life, 14 years of which as a plasterer before he re-trained
On realising something was wrong, his wife Sam and two young daughters Daisy, who was then 12 and Tilly 10, performed chest compressions on him until the ambulance team arrived. Paramedics then took over and managed to get him stable, although he was not expected to survive the night. During this time Howard suffered severe brain damage due to lack of oxygen to his brain. Howard was placed in a medically induced coma, on a ventilator for around two weeks and was gravely ill. When Howard came out of the coma he had to learn to do everything again, walk, talk and even eat but his pure determination to get better, along with the love and support from his family helped him to continue to slowly improve.
Howard has been left battling a number of health issues - despite receiving rehabilitation in a live-in brain injury unit in Garforth, near Leeds. Howard suffers from severe fatigue, mobility issues and other brain-injury symptoms such as confusion and short-term memory loss. Family travel to Leeds as often as they can to visit him. Covid restrictions haven’t helped and at times he has not been able to see them other than on Skype or Zoom calls. Their aim now, as soon as he is well enough, is to get him home to continue his recovery so that they can all be together once more.
The Project
Almost two years ago, in April 2020 Howard Holden, a 54 year old Building Surveyor from Oswaldtwistle in Lancashire suffered unexplained heart failure in his sleep. Howard has worked in the building trade for most of his working life, 14 years of which as a plasterer before he re-trained and gained his degree in Building Surveying at the age of 50. On realising something was wrong, his wife Sam and two young daughters Daisy, who was then 12 and Tilly 10, performed chest compressions on him until the ambulance team arrived. Paramedics then took over and managed to get him stable, although he was not expected to survive the night. During this time Howard suffered severe brain damage due to lack of oxygen to his brain. Howard was placed in a medically induced coma, on a ventilator for around two weeks and was gravely ill.
Page 5
Band of Builders Trustees' Annual Report (continued)
for the year ended 28 February 2022
Charitable Projects continued…
Howard’s Project (continued)
The Project (continued)
Howard’s wife, Sam, thanked the gathered crowd at the handover and said: “Y ou’re brilliant, fantastic people, and for Howard it’s going to make a massive difference – not just to be back home but to help his recovery, as he’ll be able to have his own space to relax in a safe environment .” She added: “ I know that people say we’ve been unlucky about what we’ve been through, but how can we be unlucky when we’ve had the pleasure and the honour of meeting such an amazing group of people. Thank you from the bottom of our hearts to the volunteers and everyone who donated food and materials. You make the world make sense .”
Tess’s Project
The Objective
Tess from South Shields in the North East of England, whose dog alerted her to her ovarian cancer. Following the diagnosis, Band of Builders aimed to create a safe and peaceful space for Tess while she recuperated from chemotherapy.
Background
In January 2021, Tess, 41, presented at her GP surgery with a large lump in her abdomen. Initially Tess thought that the lump was a fibroid, however, her GP sent her directly to the A&E department for her to be checked over and after a few investigative visits to a more specialist hospital, Tess was diagnosed with Low Grade Serous Carcinoma (LGSC) Stage 3, a rare subtype of Ovarian Cancer. In March last year, Tess underwent a 12-hour operation to have a full hysterectomy and during the surgery, it was evident that cancer had spread to Tess’s bowel. Thankfully, recent tests have confirmed that the surgery and subsequent chemotherapy have been successful – but it’s still a long road back to health for Tess, who says that she has Lola, her dog, to thank for saving her life.
The Project
Half a dozen tradespeople answered the call and volunteered their time for free to complete the project, which took place over a weekend in March. The main element of the project was to build a new decked area in the garden so that Tess could sit outside and enjoy the sunshine whilst she recovered from treatment.
Rob's Project
The Objective
The team from Band of Builders carried out a range of adaptations to Robert's home in Solihull in order to ensure it was safe and accessible in readiness for his return home from a Shropshire rehabilitation centre.
Background
Robert Lamb, 58, suffered a severe spinal cord injury when he fainted due to low blood pressure at home in October 2020. Despite undergoing surgery, the father of four, from Solihull, was left paralysed from the chest down and needed to spend several months recovering at a rehabilitation centre in Oswestry until he was able to return to his home in February 2021. With Robert unable to walk, the house where he and his three sons - Callum, Gavin and Mackenzie, who plays for West Bromwich Albion’s youth team - live needed to be adapted to ensure it was safe and comfortable for him in his new situation.
Page 6
Band of Builders
Trustees' Annual Report (continued) for the year ended 28 February 2022
Charitable Projects continued…
- Rob's Project (continued)
The Project
In just nine days, a total of around 60 tradespeople carried out a raft of changes including the creation of a downstairs bedroom and wet room, as well as installation of underfloor heating and air conditioning as Rob’s body would now struggle to regulate its temperature.
Work also included the installation of a state-of-the-art accessible kitchen from Magnet, including new appliances paid for by LionHeart, a benevolent fund for the Royal Institution of Chartered Surveyors (RICS) and their families. Rob said: “ It’s overwhelming. I thought they were doing two rooms - a bedroom and the wet room - but to see everything they’ve done is really overwhelming. At one point I thought I would maybe have to go into a care home temporarily so to be able to come back to my own home and for it to have everything I need really means the world.
"For so many strangers to give up their time to do this for me is amazing. It’s great to know there are good people out there who do things to help people like this. ” All work was undertaken by volunteer tradespeople from across the country using materials donated by the construction sector.
- Hayley’s project
The Objective
A responsive project for Hayley Maggie Smith who had been diagnosed with terminal cancer. Our brief was to install radiators in her bedroom, service the boiler, repair faulty lighting and help to make her bedroom special for her to come home to after being given only months to live.
Background
Hayley Maggie Smith who had been diagnosed with terminal cancer. She had been diagnosed in the December of 2020 and was operated on in January ’21 however the Sarcoma had gone too far and she was given only months to live.
The Project
All works undertaken promptly to allow her the time, space and comfort at the end of her life, spending it with her family and friends.
- 'Big Brew' campaign
As a direct result of our 2021 'Big Brew' campaign we are proud to be able to support members of the UK construction industry who are struggling with their mental health and wellbeing. Our dedicated Counsellor is a registered member of the BACP and an integrative counsellor. She works with many different clients from children and young people to adults and couples. She has also worked in many different settings, from alcohol and substance abuse rehabilitation centres to working as a school counsellor in primary education right through to college graduates.
Volunteers
As well as being dependent upon the kind donation of materials and equipment form many of the industry's suppliers, all of the aforementioned projects require the invaluable assistance of the volunteers which represent the charity in achieving the project ambitions.
During the year, the aforementioned projects incurred many hours of volunteers labour which would have cost a significant amount and the projects could not be completed without these volunteers.
Page 7
Band of Builders
for the year ended 28 February 2022
Trustees' Annual Report (continued)
Fund Raising Activities
The fundraising events and activities which were planned for 2020 had to be postponed following the Government's announcement in March and the further restrictions later in the year. This included the 2020 Ball and BoBfest Camping event, however although the London Marathon was cancelled, a virtual event took place in October 2020 with four Band of Builders representatives taking part. The charity had a runner entered in the 2021 London Marathon but his entry was deferred to 2022 after he contracted Covid-19 and was not fully recovered in time.
They also offer sponsorship packages, undertake commercial partnerships and run an on-line Merchandise store which provides branded clothing, pens, construction college kits, stickers, wristbands and keyrings.
Future Activities
As part of ambitious plans to significantly increase Band of Builders’ ability to help members of the UK construction industry who are battling illness or injury, we have appointed our first Chief Executive Officer. Gavin Crane has taken up the newly created role, and his first challenge is to map out the strategy and direction for the next 5–10 years as we as a charity look to build on our three cornerstones of providing practical support by completing projects, offering financial help to tradespeople facing hardship and making wellbeing services readily accessible to anyone in the construction industry who is in crisis
Gavin, who was formerly Chair of the Board of Trustees, said: “In its simplest form, the new CEO role will mean ensuring that more people support Band of Builders, so we can help more people. “ It’s a very exciting time to be part of Band of Builders because the charity is gaining huge momentum, which is all down to the commitment of so many of our base of volunteers, who give their time generously to support the charity and its activities. It’s also down to the benefactors and sponsors who have given us significant financial support – in many cases making us their official charity partner. The board of trustees has ambitious plans for the growth of the charity, and the creation of this role is a huge statement of intent. I’m looking forward to being at the heart of taking Band of Builders to the next level .”
As well as being tasked with building more strategic partnerships and developing more fundraising opportunities, Gavin also has a wider-reaching ambition to be a positive voice on issues affecting the construction industry, such as apprenticeships, the skills gap, inclusion and gender discrimination. His appointment comes at a time when we are working to complete a record-breaking 12 projects this year and are making plans for our second annual Big Brew event this October (to highlight mental health within the construction industry and raise funds to expand on our recently launched wellbeing support service). We are also expecting a rise in requests for financial assistance if the cost of living crisis continues to bite.
Public Benefit
The trustees are confident that all of their activities are undertaken with public benefit in mind. Although mainly aimed at members of the construction industry, the projects undertaken also benefit family and friends and foster positive relationships within the local communities and businesses in the area they operate.
Page 8
Band of Builders
Trustees' Annual Report (continued)
for the year ended 28 February 2022
Reserves policy
The Trustees believe that the holding of reserves is necessary due to the nature of their activities. The varied nature of the projects undertaken makes it difficult to determine the minimum level required. The Trustees believe that the current level of reserves is sufficient for them to continue their charitable activities.
Approved by the charity's trustees and signed on their behalf by
D.M. Seal Chairman
Date: 10 November 2022
Page 9
Independent Examiner's Report
to the Trustees of Band of Builders
I report to the charity trustees on my examination of the accounts of the charity for the year ended 28 February 2022, which are set out on pages 11 to 17.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carrier out under section 145 of the 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.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act;
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the accounts do not accord with those records.
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the accounts do 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 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.
K. J. Maggs F.C.A.,B.A. Moore Thompson Chartered Accountants
Dated: 16 November 2022
Page 10
Band of Builders
Statement of Financial Activities
for the year ended 28 February 2022
----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note £ £ £ £
Income and endowments from
Donations and legacies 2 316,973 2,907 319,880 86,196
Other trading activities 3 134,277 - 134,277 54,502
Investments:
Bank interest 5 - 5 187
Total income and endowments 451,255 2,907 454,162 140,885
Expenditure on 4
Raising funds, including other trading activities 122,744 - 122,744 53,916
Charitable activities 220,835 11,884 232,719 50,150
Other costs 41,494 - 41,494 18,706
Total expenditure 385,073 11,884 396,957 122,772
Net Incoming resources for the year 66,182 (8,977) 57,205 18,113
Transfers between funds (8,977) 8,977 - -
Net income / Movement in funds 57,205 - 57,205 18,113
Reconciliation of funds
Total funds brought forward 129,620 - 129,620 111,507
Total funds carried forward 186,825 - 186,825 129,620
----- End of picture text -----
The notes on pages 13 - 17 form part of these financial statements.
Page 11
Band of Builders
Balance Sheet
for the year ended 28 February 2022
----- Start of picture text -----
2022 2020
£ £ £ £
Note
Fixed assets
Tangible assets 6 1,472 479
Current assets
Stock 29,460 16,829
Debtors 7 27,418 20,000
Cash at bank and in hand 137,591 104,368
194,469 141,197
Creditors: Amounts falling due
8 9,116 12,056
within one year
Net current assets 185,353 129,141
Net assets 186,825 129,620
Unrestricted Funds
General 186,825 129,620
Total charity funds 186,825 129,620
----- End of picture text -----
All of the assets and laibilities for the current and comparative year relate to unrestricted funds.
The financial statements were approved and authorised for issue by the Board on 10 Noveember 2022.
Signed on behalf of the board of trustees:
D.M. Seal
Chairman
M.A. Armstrong
Treasurer
Companies House registration number: CE016697
The notes on pages 13 - 17 form part of these financial statements.
Page 12
Band of Builders
Notes to the Financial Statements
for the year ended 28 February 2022
1. Accounting policies
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise
(a) Basis of preparation of the financial statements
The charitable incorporated organisation constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis and are presented in sterling which is the functional currency of the charity.
(b) Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
(c) Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
Page 13
Band of Builders
Notes to the Financial Statements (continued)
for the year ended 28 February 2022
1. Accounting policies (continued)
(d) Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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Costs of raising funds includes costs relating to events held for the main purpose of raising funds, costs of trading activities and allocated support costs.
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Expenditure on charitable activities includes costs of the projects undertaken, including donated items and any additional costs relating to those projects or the planning thereof.
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Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
(e) Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as
Computer equipment Straight line over 3 years
(f) Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
(g) Restricted funds
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
(h) Unrestricted funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
(i) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Page 14
Band of Builders
Notes to the Financial Statements (continued)
for the year ended 28 February 2022
1. Accounting policies (continued)
(j) Judgements and key sources of estimation uncertainty
There are no significant judgements or estimations which have been made in the process of applying the above accounting policies, other than usual cut off judgements included in prepayments and accruals.
(k) Tax
The charity is an exempt charity with in the meaning of schedule 3 of the Charities Act 2011 and 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 entity for corporation tax purposes.
2. Income from donations and legacies
| Legacies Donations Grants - for specific projects (Restricted) Gifts in kind for projects Sponsorship 3. Income from other trading activities Events held Sale of Merchandise Other sales income 4. Expenditure Raising funds, including other trading activities Fundraising events Marketing costs Purchases of 'BoB' merchandise Storage rent Allocation of support costs Charitable activities Cost of projects Gifts in kind for projects Insurances Grants awarded Allocation of support costs Other costs - Governance Charity consultant Accountancy fees Independent examiner's fees Allocation of support costs |
2022 £ 2,500 134,913 2,907 134,060 45,500 319,880 2022 £ 41,740 91,713 824 134,277 2022 £ 51,405 4,759 14,680 3,996 47,904 122,744 47,897 - 5,538 2,110 43,114 232,719 33,180 1,604 1,920 4,790 41,494 |
2021 £ 5,000 26,200 - 29,996 25,000 86,196 2021 £ 8,421 44,773 1,308 54,502 2021 £ 380 47 38,121 3,996 11,372 53,916 8,614 29,996 1,305 - 10,235 50,150 14,010 1,668 1,890 1,138 18,706 |
|---|---|---|
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Band of Builders
Notes to the Financial Statements (continued)
for the year ended 28 February 2022
4. Expenditure (continued)
| Support costs Repairs and maintenance Postage and stationery Office administration expenses Wages Social security costs Pension Cost Subscriptions Telephone Travel costs Sundry expenses Bank charges Legal and professional fees Depreciation charge Allocation of support costs: Raising funds 50% Charitable activities 45% Other 5% |
2022 £ - 7,228 6,763 63,849 5,532 1,340 1,095 88 6,594 722 1,165 576 856 95,808 47,904 43,114 4,790 95,808 |
2021 £ 270 1,876 4,153 9,189 - 151 614 128 2,030 636 1,305 2,154 239 22,745 11,372 10,235 1,138 22,745 |
|---|---|---|
5. Trustees' remuneration and expenses
No trustee received remuneration or re-imbursed expenses in relation to their roles as a trustee.
6. Tangible fixed assets
| Cost Additions Charge for the year Net book value Brought forward at 1 March 2021 Brought forward at 1 March 2021 Carried forward at 28 February 2022 Depreciation Carried forward at 28 February 2022 At 28 February 2022 At 28 February 2021 |
Computer equipment £ 718 1,849 2,567 239 856 1,095 1,472 479 |
Total £ 718 1,849 2,567 239 856 1,095 1,472 479 |
|---|---|---|
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Band of Builders
Notes to the Financial Statements (continued)
for the year ended 28 February 2022
----- Start of picture text -----
7. Debtors
2022 2020
£ £
Trade debtors 21,274 20,000
Prepayments and accrued income 6,144 -
27,418 20,000
8. Creditors
2022 2020
£ £
Trade creditors 3,186 5,448
Taxation and social security costs 3,410 525
Pension creditor - 352
Accruals and deferred income 2,520 5,731
9,116 12,056
----- End of picture text -----
9. Analysis of net assets (between restricted and unrestricted funds)
Restricted funds relates to monetary awards made to the charity with the purpose of fulfilling one of the building projects which they undertake, i.e. a specified project. Donations in kind do not tend to be restricted due to the fact that if there is a surplus then they can be used for nay project undertaken by the charity.
10. Related party transactions
The charity is controlled by the trustees as a body and no individual does or could exert control.
No Trustee has received any remuneration or expenses in their capacity as a Trustee.
The charity has rented storage from Playmaintain Limited, a company owned by G. Crane and L. Stevenson for a rental of £3,996 (2021 - £3,996) which is below the market rent.
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