REGISTERED COMPANY NUMBER: 11656625 (England and Wales) REGISTERED CHARITY NUMBER: 1182870
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
FOR
HAIRCUTS4HOMELESS LIMITED
A R Wenden FCCA Elliott, Mortlock, Busby & Co Limited 12 High Street Stanford le Hope Essex SS17 0EY
HAIRCUTS4HOMELESS LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
HAIRCUTS4HOMELESS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2022. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Our charitable objectives can be summarised into our main aims:
Homeless people have many challenges to face, one being low self-esteem by being able to provide a haircut free of charge can have a great effect on someone, giving them confidence to face the prospect of job interviews and interaction with people.
Significant activities
In December 2020 we were closed down because of covid until April 2021. We then set about restarting our projects across the Uk. This was a slow process as we had to personally attend to make sure all covid health and safety procedures were adhered to. We then spent the rest of the time up until November 2021 reopening our projects and supporting them with supplies and encouragement.
Public benefit
Hairdressers have known empathy and are great communicators offering their time and willingness to help the homeless people.
Homeless people now have a first-class access to Hair and grooming facility to enable them to access jobs and social inclusion.
We have created a hub for interaction and volunteering reducing loneliness and social isolation.
Grantmaking
We have facilitated specific nominated collections for poor and vulnerable people in the community.
Volunteers
We are entirely volunteer led, with over 21,000 hours per year contributed directly from local/national people.
Chairperson's Statement
I would like to begin by thanking the many volunteers and staff who make the work on the Haircuts4homeless project a success and to have created an impact in the wider community. I would also like to thank my fellow Trustees for their dedication and support in the important role of governance and leadership.
We have seen significant growth of the projects in the past 12 months and are seeing a demonstrable impact upon the health and wellbeing of individuals in the United Kingdom and the community as a whole.
We enjoy continued support from the community, especially small local businesses who consistently go over and above in supporting our Social Enterprise.
We benefit greatly from healthy partnerships with the public sector including L'Oreal, Zenoti, Beauty Papers, Wahl UK, Hair Tools and the National Lottery.
Covid 19 has decimated so many of our projects but now begins the work of rebuilding and making the charity stronger than
FINANCIAL REVIEW
Principal funding sources
The principal funding sources for the charity are currently by way of lottery grant, sponsorships and donations. Income has been generated from a lottery development grant, lottery community fund grant and social media fund raising.
We are fortunate to have two strong sponsorships with L'Oreal and Zenoti who donate £25,000 and $25,000 respectively.
Page 1
HAIRCUTS4HOMELESS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
FINANCIAL REVIEW
Reserves policy
The charity needs to hold a level of reserves in order to plan adequately for the future development. The freely available reserves stand at £19,705.
The board and management are continuing to work to increase the reserves and secure future funding.
FUTURE PLANS
The board and management team are working to secure future corporate funding, a long with grant and bid applications.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Charities Articles of Association:
1.For the relief of financial hardship to the homeless by establishing sites throughout the United Kingdom
(a) Where skilled hairdressers will provide haircuts free of charge to homeless people
(b) Establishing pop up Hairdresser academies where homeless people will be taught basic hairdressing skills.
Recruitment and appointment of new trustees
At the annual general meeting we are obliged to present a report and accounts for the preceding year and to elect or appoint Trustees to the Management Committee
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
11656625 (England and Wales)
Registered Charity number
1182870
Registered office
53 Ernest Road Hornchurch United Kingdom RM11 3JN
Trustees
A Perera A Reed Ms M Kendall MBE
Independent Examiner
A R Wenden FCCA Elliott, Mortlock, Busby & Co Limited 12 High Street Stanford le Hope Essex SS17 0EY
Approved by order of the board of trustees on 17 August 2023 and signed on its behalf by:
Ms M Kendall - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAIRCUTS4HOMELESS LIMITED
Independent examiner's report to the trustees of Haircuts4homeless Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2022.
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 the Company 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.
Anthony Wenden
The Association of Chartered Certified Accountants
A R Wenden FCCA Elliott, Mortlock, Busby & Co Limited 12 High Street Stanford le Hope Essex SS17 0EY
29 August 2023
Page 3
HAIRCUTS4HOMELESS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 NOVEMBER 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 17,714 Other trading activities 3 53,294 Total 71,008 EXPENDITURE ON Raising funds Raising donations and legacies 3,604 3,604 Charitable activities Activities 84,603 Other 4,071 Total 92,278 NET INCOME/(EXPENDITURE) (21,270) RECONCILIATION OF FUNDS Total funds brought forward 40,975 TOTAL FUNDS CARRIED FORWARD 19,705 |
Restricted funds £ 7,000 - 7,000 19,961 19,961 2,063 - 22,024 (15,024) 18,422 3,398 |
2022 Total funds £ 24,714 53,294 78,008 23,565 23,565 86,666 4,071 114,302 (36,294) 59,397 23,103 |
2021 Total funds £ 33,323 43,581 76,904 718 718 80,304 4,852 85,874 (8,970) 68,367 59,397 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
HAIRCUTS4HOMELESS LIMITED
BALANCE SHEET 30 NOVEMBER 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 8 11,327 - CURRENT ASSETS Debtors 9 1,587 - Cash at bank 24,248 3,398 25,835 3,398 CREDITORS Amounts falling due within one year 10 (5,457) - NET CURRENT ASSETS 20,378 3,398 TOTAL ASSETS LESS CURRENT LIABILITIES 31,705 3,398 CREDITORS Amounts falling due after more than one year 11 (12,000) - NET ASSETS 19,705 3,398 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 11,327 1,587 27,646 29,233 (5,457) 23,776 35,103 (12,000) 23,103 19,705 3,398 23,103 |
2021 Total funds £ 15,398 3,714 60,919 64,633 (4,634) 59,999 75,397 (16,000) 59,397 40,975 18,422 59,397 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
HAIRCUTS4HOMELESS LIMITED
BALANCE SHEET - continued 30 NOVEMBER 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 August 2023 and were signed on its behalf by:
M Kendall - Trustee
The notes form part of these financial statements
Page 6
HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
1. STATUTORY INFORMATION
Haircuts4homeless Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number, charity number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Governance costs
| Governance costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Independent examiners fees | - | 200 |
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance Computer & office equipment - 25% straight line basis
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
3. OTHER TRADING ACTIVITIES
4.
| Sponsorships NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2022 £ 53,294 2022 £ 4,071 |
2021 £ 43,581 |
|---|---|---|
| 2021 £ 4,852 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,273 Other trading activities 43,581 Total 54,854 EXPENDITURE ON Raising funds Raising donations and legacies - - Charitable activities Activities 50,118 Other 4,852 |
2022 2 Restricted funds £ 22,050 - 22,050 718 718 30,186 - |
2021 2 Total funds £ 33,323 43,581 76,904 718 718 80,304 4,852 |
2021 2 Total funds £ 33,323 43,581 76,904 718 718 80,304 4,852 |
|---|---|---|---|
| 76,904 | |||
| 718 | |||
| 718 80,304 4,852 |
continued...
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HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ Total 54,970 30,904 NET INCOME/(EXPENDITURE) (116) (8,854) Transfers between funds 844 (844) Net movement in funds 728 (9,698) RECONCILIATION OF FUNDS Total funds brought forward 40,246 28,121 TOTAL FUNDS CARRIED FORWARD 40,974 18,423 8. TANGIBLE FIXED ASSETS Computer Motor & office vehicles equipment £ £ COST At 1 December 2021 and 30 November 2022 16,529 3,887 DEPRECIATION At 1 December 2021 4,132 886 Charge for year 3,099 972 At 30 November 2022 7,231 1,858 NET BOOK VALUE At 30 November 2022 9,298 2,029 At 30 November 2021 12,397 3,001 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other debtors 42 Prepayments 1,545 1,587 |
Total funds £ 85,874 (8,970) - (8,970) 68,367 59,397 Totals £ 20,416 5,018 4,071 9,089 11,327 15,398 2021 £ 2,393 1,321 3,714 |
|---|---|
continued...
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HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts (see note 12) | 4,000 | 4,000 | ||
| Other creditors | 1,457 | 234 | ||
| Accrued expenses | - | 400 | ||
| 5,457 | 4,634 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Bank loans (see note 12) | 12,000 | 16,000 | ||
| 12. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Bank loans | 4,000 | 4,000 | ||
| Amounts falling between one and two years: | ||||
| Bank loans - 1-2 years | 4,000 | 4,000 | ||
| Amounts falling due between two and five years: | ||||
| Bank loans - 2-5 years | 8,000 | 12,000 | ||
| 13. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.12.21 | in funds | 30.11.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 40,975 | (21,270) | 19,705 | |
| Restricted funds | ||||
| Hear Me See Me Book Funding | 18,422 | (18,422) | - | |
| Prism the gift fund (Choose Love) | - | 3,398 | 3,398 | |
| 18,422 | (15,024) | 3,398 | ||
| TOTAL FUNDS | 59,397 | (36,294) | 23,103 |
continued...
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HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Hear Me See Me Book Funding Prism the gift fund (Choose Love) TOTAL FUNDS |
Incoming resources £ 71,008 - 7,000 7,000 78,008 |
Resources Movement expended in funds £ £ (92,278) (21,270) (18,422) (18,422) (3,602) 3,398 (22,024) (15,024) (114,302) (36,294) |
Resources Movement expended in funds £ £ (92,278) (21,270) (18,422) (18,422) (3,602) 3,398 (22,024) (15,024) (114,302) (36,294) |
|---|---|---|---|
| (15,024) | |||
| (36,294) |
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds National Lottery Community Fund Hear Me See Me Book Funding TOTAL FUNDS |
Net Transfers At movement between At 1.12.20 in funds funds 30.11.21 £ £ £ £ 40,246 (115) 844 40,975 28,121 (27,277) (844) - - 18,422 - 18,422 28,121 (8,855) (844) 18,422 68,367 (8,970) - 59,397 |
Net Transfers At movement between At 1.12.20 in funds funds 30.11.21 £ £ £ £ 40,246 (115) 844 40,975 28,121 (27,277) (844) - - 18,422 - 18,422 28,121 (8,855) (844) 18,422 68,367 (8,970) - 59,397 |
|---|---|---|
| 18,422 | ||
| 59,397 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,854 | (54,969) | (115) |
| Restricted funds | |||
| National Lottery Community Fund | 1 | (27,278) | (27,277) |
| Hear Me See Me Book Funding | 22,049 | (3,627) | 18,422 |
| 22,050 | (30,905) | (8,855) | |
| TOTAL FUNDS | 76,904 | (85,874) | (8,970) |
continued...
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HAIRCUTS4HOMELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2022.
15. ULTIMATE CONTROLLING PARTY
There is no ultimate controlling party.
Page 12
HAIRCUTS4HOMELESS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Donations 17,714 - Grants - 7,000 17,714 7,000 Other trading activities Sponsorships 53,294 - Total incoming resources 71,008 7,000 EXPENDITURE Raising donations and legacies Fundraising expenses 3,604 19,222 Donation to general funds - 739 3,604 19,961 Charitable activities General project expenses 5,410 1,544 Travel and accommodation 12,286 372 17,696 1,916 Other Depreciation of tangible fixed assets 4,071 - Support costs Management Wages 52,998 - Pensions 1,191 - Insurance 716 147 Telephone & communications 807 - Postage and stationery 465 - Advertising and marketing 8,294 - Sundries 986 - Equipment renewals & repairs - - 65,457 147 Finance Bank charges 84 - Information technology Repairs and renewals 1,112 - |
2022 Total funds £ 17,714 7,000 24,714 53,294 78,008 22,826 739 23,565 6,954 12,658 19,612 4,071 52,998 1,191 863 807 465 8,294 986 - 65,604 84 1,112 |
2021 Total funds £ 33,323 - |
|---|---|---|
| 33,323 43,581 |
||
| 76,904 718 - |
||
| 718 9,566 6,593 |
||
| 16,159 4,852 51,619 1,198 842 1,353 587 5,712 1,139 1,495 |
||
| 63,945 - - |
This page does not form part of the statutory financial statements
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HAIRCUTS4HOMELESS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022
| Unrestricted Restricted funds funds £ £ Information technology Governance costs Independent examination fee (200) - Bank loan interest 454 - 254 - Total resources expended 92,278 22,024 Net (expenditure)/income (21,270) (15,024) |
2022 Total funds £ (200) 454 254 114,302 (36,294) |
2021 Total funds £ 200 - 200 85,874 (8,970) |
|---|---|---|
This page does not form part of the statutory financial statements
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