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2023-12-31-accounts

Charity Number: 1182283

Band of Builders

Financial Statements for the year ended 31 December 2023

Band of Builders

Financial Statements

for the year ended 31 December 2023

INDEX

Legal and Administrative Information 1
Chief Executive Officer Report 2 - 3
Trustees' Annual Report 4 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 15

Band of Builders

Legal and Administrative Information for the year ended 31 December 2023

Trustees D.M. Seal Chairman
M.A. Armstrong Treasurer
L. Stevenson
P. Cape
T.P.J Height
M. McGee
H.C. Newberry
S.L. Hanks
R.A. Dombrowski
A.B. Callow (Resigned 1 August 2023)
P.A. Maxwell
Chief Executive Officer G. Crane
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.
16 Hoekman Way
Spalding
Lincs
PE11 3HE

Page 1

Band of Builders Chief Executive Officer Report

for the year ended 31 December 2023

As CEO of Band of Builders, it is my privilege to reflect on what has been an extraordinary year for our charity. The past 12 months have been marked by growth, resilience, and an unwavering commitment to our mission of supporting those within the UK construction industry who are facing life-changing challenges. This report is an opportunity to share our key achievements, the lessons we've learned, and our vision for the future.

Reflecting on 2023: A Year of Unprecedented Growth

2023 has been a year of unprecedented growth for Band of Builders. We have seen our projects multiply, our volunteer base expand, and our partnerships with industry leaders strengthen. This growth is a testament to the collective effort of our volunteers, trustees, partners, and donors who share our vision of making a tangible difference in the lives of those in need.

Key highlights from the year include:

Challenges and Opportunities

While we have much to celebrate, the year has not been without its challenges. The demand for our services continues to grow, stretching our resources and pushing us to innovate in how we deliver support. Financial sustainability remains a key focus as we balance immediate needs with long-term strategic goals.

However, with challenges come opportunities:

Page 2

Band of Builders

Chief Executive Officer Report (continued)

for the year ended 31 December 2023

Looking Ahead: The Future of Band of Builders

As we look to the future, our vision is clear. We aim to significantly increase our capacity to assist those in the construction industry who are battling illness, injury, or financial hardship. Our strategic plan for the next 3 years is focused on three core pillars:

1. Expanding Practical Support: We will continue to increase the number and scale of our projects, ensuring that no one in our industry has to face adversity alone;

2. Enhancing Financial Assistance: We are committed to providing more robust financial support to those in need, helping to ease the burden on families facing financial crises;

3. Leading the Charge on Mental Health: We will continue to drive the conversation around mental health in the construction industry, breaking down stigma and providing vital support to those struggling.

A Personal Note of Thanks

None of our achievements this year would have been possible without the dedication and support of everyone involved with Band of Builders. To our trustees, who provide invaluable guidance and governance; to our volunteers, who give their time and skills so generously; to our partners, whose resources and support amplify our impact; and to our donors, whose contributions make our work possible – I extend my heartfelt thanks.

As we move forward, I am filled with optimism and determination. The challenges we face are significant, but so is our resolve. Together, we are stronger – #TogetherStronger – and I look forward to another year of making a difference in the lives of those who need it most.

Conclusion

2023 has set a new benchmark for what we can achieve as a charity. But it is just the beginning. I am excited about the journey ahead and confident that, with your continued support, Band of Builders will go from strength to strength. Thank you for being part of our story.

This report has been approved by the trustees and signed on their behalf by:

G. Crane

Chief Executive Officer

Date: 11 October 2024 .

Page 3

Band of Builders Trustees' Annual Report

for the year ended 31 December 2023

The trustees present their report with the financial statements for the year ended 31 December 2023. 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 charity.

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 Foundation constitution approved by the Trustees on 28 February 2019.

Trustees

The trustees in position throughtout the year are listed on page 1.

Appointment of trustees

Prospective trustees must be formally proposed and approved by the current trustees.

Objectives

Band of Builders works for the public benefit with the primary objective of providing relief to those in need due to ill health or disability within the construction industry.

Our specific goals include:

  1. Co-ordinating and developing services to support construction members, their families and dependants;

  2. Providing modifications to accommodation to enhance quality of life for those in need;

  3. Promoting their health and wellbeing within the construction community;

  4. Offering financial support to those facing hardship.

Day to day management

The day to day management has been delegated to the Chief Executive Officer, currently Gavin Crane who has previsouly served as Chair of the Trustees.

Activities

History and background

Band of Builders was founded by Addam Smith in 2016, with the initial intention of gathering volunteers from the construction industry to landscape the garden of Keith Ellick, an employee diagnosed with terminal cancer. The project quickly expanded into a full-scale house renovation.

Since then, Band of Builders has grown significantly, evolving into a charity that undertakes multiple projects of various sizes across the UK. Members of the construction industry, alongside their families, unite to contribute to these projects, providing labor, materials, fundraising, and emotional support.

Page 4

Band of Builders

Trustees' Annual Report (continued)

for the year ended 31 December 2023

Activities (continued)

Charitable Projects

#TogetherStronger – Wellbeing Initiative As a direct result of our 2022 ‘Big Brew’ campaign, which aimed to support members of the UK construction industry struggling with mental health, we have continued to expand this initiative. We are proud to partner with SHOUT, who provide our 24/7 text support service, and Spectrum Life, who offer our helpline, counselling service, and online wellbeing tools. Through these partnerships, we ensure that comprehensive mental health support is always accessible to those in need.

The ‘Big Brew’ campaign has now become an annual event, bringing together construction industry workers to support each other and break the stigma surrounding mental health. Events follow the format of charity coffee mornings.

Volunteer Assistance Programme In 2023, we launched the Volunteer Assistance Programme to help those struggling with issues such as depression, anxiety, stress, addiction, relationship problems, and financial difficulties. Beneficiaries can access a wide range of support services, including legal and financial information, career guidance, life coaching, and health support.

Partnership with NHS England In 2023, Band of Builders partnered with NHS England to promote NHS Talking Therapies within the construction industry. This service offers confidential psychological treatments for issues like depression, anxiety, and PTSD, free of charge

Financial Support We provide grants to individuals in the UK construction industry facing financial hardship. Unfortunately, we can only consider applications from those with a direct occupational link to the construction industry.

Practical Support We completed several projects in 2023, each designed to assist construction workers, their families, and dependents facing life-changing circumstances such as illness or disability. Notable projects include:

Volunteer Support

Band of Builders relies heavily on volunteers who generously give their time and skills. Our community, connected through our Facebook group and website, is united by the social media tag #TogetherStronger . The contribution of our volunteers is invaluable and critical to the success of our projects.

Page 5

Band of Builders

Trustees' Annual Report (continued)

for the year ended 31 December 2023

Fundraising Activities

Our fundraising efforts are diverse, including our online shop and various online platforms:

In 2023, we participated in numerous trade shows and events across the UK, which not only raised funds but also increased awareness of our mission and attracted new volunteers.

Achievements and Recognition

In September 2023, Band of Builders won four prestigious Third Sector Awards, including:

These awards are a testament to the dedication, passion, and commitment of our team, volunteers, and partners

Future Activities

Looking forward, Band of Builders aims to expand our capacity to support more members of the UK construction industry. We have outlined a long-term strategy focusing on three core areas: practical support, financial assistance, and mental health services. We are committed to breaking records with the number of projects we undertake and will continue to seek partnerships to support our mission.

Public Benefit

All our activities are conducted with public benefit in mind. While our primary focus is on the construction industry, our projects also benefit families, friends, and local communities.

The Band of Builders' charity trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Financial achievements and performance

The results and financial position of the charity for the financial year are detailed on pages 8 to 15.

Page 6

Band of Builders

Trustees' Annual Report (continued)

for the year ended 31 December 2023

Reserves policy

Objective:

To maintain a financial reserve to safeguard the charity, its beneficiaries, and its staff, ensuring we can continue our work even in the face of financial shortfalls.

Policy:

We aim to maintain reserves equivalent to at least 40% of operating expenditure. This percentage allows our reserves to grow in line with the charity’s income.

Current position:

As of the year-end, we have excess reserves, which are continuously evaluated to assess the feasibility of upcoming projects. The current level of reserve required is £128,000 which means an excess of approximately £36,000.

This report has been approved by the trustees and signed on their behalf by:

D.M. Seal

Chairman

Date: 14 October 2024

Page 7

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 31 December 2023, which are set out on pages 9 to 15.

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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

  3. 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. Chartered Accountant

Dated: 15 October 2024.

Page 8

Band of Builders

Statement of Financial Activities

for the year ended 31 December 2023

----- Start of picture text -----
2023 2022
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note £ £ £ £
Income and endowments from
Donations and legacies 2 399,865 5,000 404,865 348,524
Other trading activities 3 113,566 - 113,566 98,492
Fundraising activities:
Sponsorship events 2,250 - 2,250 7,892
Lottery and raffles 1,876 - 1,876 917
Investments:
Bank interest 1,238 - 1,238 120
Total income and endowments 518,795 5,000 523,795 455,945
Expenditure on 4
Raising funds, including other trading activities 193,655 - 193,655 174,177
Charitable activities 282,749 5,000 287,749 291,790
Other costs 31,234 - 31,234 23,017
Total expenditure 507,638 5,000 512,638 488,984
Net incoming / (outgoing) resources for the year 11,157 - 11,157 (33,039)
Transfers between funds - - - -
Net income / Movement in funds 11,157 - 11,157 (33,039)
Reconciliation of funds
Total funds brought forward 153,786 - 153,786 186,825
Total funds carried forward 164,943 - 164,943 153,786
----- End of picture text -----

The notes on pages 11 - 15 form part of these financial statements. Page 9

Band of Builders

Balance Sheet

for the year ended 31 December 2023

----- Start of picture text -----
2023 2022
£ £ £ £
Note
Fixed assets
Tangible assets 6 1,526 2,283
Investments 7 10 10
1,536 2,293
Current assets
Stock 26,312 36,589
Debtors 8 42,420 23,807
Cash at bank and in hand 108,799 111,398
177,531 171,794
Creditors: Amounts falling due
9 14,124 20,301
within one year
Net current assets 163,407 151,493
Net assets 164,943 153,786
Unrestricted Funds
General 164,943 153,786
Total charity funds 164,943 153,786
----- 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 15 October 2024.

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 11 - 15 form part of these financial statements.

Page 10

Band of Builders

Notes to the Financial Statements

for the year ended 31 December 2023

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 stated.

(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 11

Band of Builders

Notes to the Financial Statements (continued)

for the year ended 31 December 2023

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:

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 follows.

Computer equipment

Straight line over 3 years

(f) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

(g) 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.

(h) 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.

(i) 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.

Page 12

Band of Builders

Notes to the Financial Statements (continued)

for the year ended 31 December 2023

1. Accounting policies (continued)

(j) 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.

(k) 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.

(l) 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

Donations
Grants - for specific projects (Restricted)
Gifts in kind for projects
Sponsorship and patronage
3. Income from other trading activities
Events held
Event sponsorship
Counselling and activity income
Sale of Merchandise
Other sales income
4. Expenditure
Raising funds, including other trading activities
Fundraising events
Marketing costs and exhibitions
Purchases of 'BoB' merchandise
Allocation of support costs
Charitable activities
Cost of projects
Gifts in kind for projects
Counselling and activity costs
Insurances
Grants awarded
Charity administration costs
Allocation of support costs		 2023
£
83,536
-
121,511
199,818
404,865
2023
£
35,191
43,000
6,492
27,308
1,575
113,566
2023
£
50,328
41,713
20,126
81,488
193,655
51,375
121,511
24,955
6,947
750
3,982
78,229
287,749		 2022
£
101,291
5,000
143,188
99,045
348,524
2022
£
13,300
39,700
23,016
20,891
1,585
98,492
2022
£
72,195
16,725
7,361
77,896
174,177
13,190
143,188
54,342
3,623
2,667
-
74,780
291,790

Page 13

Band of Builders

Notes to the Financial Statements (continued)

for the year ended 31 December 2023

4. Expenditure (continued)

Other costs - Governance
Charity consultant
Accountancy fees
Independent examiner's fees
Allocation of support costs
Support costs
Property rent
Repairs and maintenance
Postage and stationery
Office administration expenses
Telephones, websites and internet
Wages
Social security costs
Pension Cost
Other staff costs and training
Subscriptions
Travel costs
Legal and professional fees
Bad and doubtful debts
Depreciation charge
Bank and similar charges
Interest payable
Allocation of support costs:
Raising funds
50%
Charitable activities
48%
Other
2%		 2023
£
25,309
915
1,750
3,260
31,234
3,996
330
87
720
3,041
135,461
9,928
2,985
954
1,297
-
150
2,000
757
1,271
-
162,977
81,488
78,229
3,260
162,977		 2022
£
17,440
810
1,650
3,117
23,017
3,330
210
5,023
4,441
5,684
99,500
6,513
2,247
444
976
24,238
60
-
1,083
1,997
47
155,793
77,896
74,780
3,117
155,793

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
Charge for the year
Net book value
Brought forward and carried forward at
31 December 2023
Depreciation
Carried forward at 31 December 2023
Brought forward at 1 January 2023
At 31 December 2023
At 31 December 2022		 Computer
equipment
£
1,928
1,416
403
1,819
109
512		 £
2,533
762
354
1,116
1,417
1,771
Furniture and
equipment		 Total
£
4,461
2,178
757
2,935
1,526
2,283

Page 14

Band of Builders

Notes to the Financial Statements (continued)

for the year ended 31 December 2023

7. Investments

The investment is the entire ordinary share capital of Band of Builders Trading Limited which is currently dormant and has been since incorporation. The subsidiary will be a trading arm of the charity and donate all surpluses to this charity.

8. Debtors

Trade debtors
Prepayments and accrued income		 2023
£
34,673
7,747
42,420		 2022
£
22,838
969
23,807

9. Creditors

Trade creditors
Taxation and social security costs
Pension creditor
Accruals and deferred income		 2023
£
2,315
3,176
582
8,051
14,124		 2022
£
9,526
7,972
333
2,470
20,301

10. 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 any project undertaken by the charity.

11. Related party transactions

The charity is controlled by the trustees as a body and no individual does or could exert control.

The charity has rented storage from The Gift Box Co, a business entity owned by G. Crane and L. Stevenson for a rental of £3,996 (2022 - £3,330), which is below the market rent.

G. Crane is the CEO and L. Stevenson is a Trustee of the charity. Both are excluded from all discussions relating to the rentals.

No other Trustee has received any remuneration or expenses in their capacity as a Trustee.

Page 15