Trustees’ Annual Report for the period
From 01/03/2021 To 28/02/2022
Charity name: Beauty Banks
Charity registration number: 1184944
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Alleviation of hygiene poverty across the UK, provision of sanitary and essential hygiene products. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Working with industry to redistribute toiletries to those in need across the UK via approx 400 national partnerships with charities, community organisations schools, healthcare providers, prisons etc (list not exhaustive). Beauty Banks raises awareness of hygiene poverty via specific evidence-based campaigning. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | Yes, all trustees are aware of Charity Commission guidance on public benefit. |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment
Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Beauty Banks now has established charity partnerships across all main regions of the UK (England, Wales, Scotland, NI) totalling 400 and continues to grow. Working with schools, we know that days lost to period poverty have decreased for those female pupils who have accessed our donations. We have worked with the cosmetics industry to salvage and redistribute toiletries otherwise destined for landfill and therefore there is a wider environmental impact to our work. Beauty Banks has also raised awareness of hygiene poverty in schools from specific social media campaigns through the pandemic. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 |
Other
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Whilst our expenditure was higher than our income for this period, this was anticipated and our income in the year 2022-23 is guaranteed to be higher and we have streamlined our logistics expenditure in the first months of 2022. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The trustees are writing a policy and exploring the potential for the charity to hold funds of approx £100,000 at all times. This is being developed. |
| Amount of reserves held | Para 1.22 | Approx £125,000 at 28/02/22. |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | No concerns. |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Periodic seasonal fundraising campaigns. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | N/A |
| A description of the principal risks facing the charity |
Para 1.46 | N/A |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Articles of Association. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Unincorporated association. |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees to date have been appointed with key portfolio skills (public relations, human resources, lobbying, accountancy) and future appointments voted on and agreed by the existing board of trustees. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | Beauty Banks |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1184944 |
| Charity’s principal address 145 Gresham Road Laleham Staines-upon-Thames TW18 2AG |
|
|---|---|
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|
|---|---|---|---|---|
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Sali Hughes | |||
| Joanne Laura Jones |
||||
| Nicola Watson | ||||
| Paul Jaysing Pray |
||||
| Robert Leonard Fellows |
||||
| Susan Rissbrook |
||||
Corporate trustees – names of the directors at the date the report was approved
Director name Sali Hughes Joanne Jones Nicola Watson Susan Rissbrook Jaysing Prayag
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity |
N/A |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees Signature(s) Full name(s) Sali Hughes Position (eg Co-founder and trustee. Secretary, Chair, etc) ~~n~~ Date 27/12/2022
REGISTERED COMPANY NUMBER: 11819908 (England and Wales) REGISTERED CHARITY NUMBER: 1184944
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2022
for
Beauty Banks
(A Company Limited by Guarantee)
14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Macario Lewin Chartered Accountants Bellarmine House
Beauty Banks
Contents of the Financial Statements for the Year Ended 28 February 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Beauty Banks
Report of the Trustees for the Year Ended 28 February 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 28 February 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
We believe that being clean is a basic human right, not a luxury and not a privilege. We exist to make 'hygiene poverty' history while supporting those living in poverty in the UK - those who can't afford to be clean - with personal care and hygiene essentials. This is about dignity, self-confidence and mental wellbeing. This is also about change. We support those in need while lobbying the UK government, as part of a Beauty APPG, to make change happen. Our aim is to support those requiring access to essential toiletries across all regions of the UK.
FINANCIAL REVIEW
This is our third accounting year. After two large and well-publicised fundraising campaigns in the previous accounting year, it is noted that both campaigns were pandemic-related and one was for NHS workers. Both campaigns were hugely successful and raised significant funds for the charity.
This year we received gross income amounting to £88,683 with a total expenditure of £198,516. Expenses therefore exceeded income by £109,833. However, since the year end we have received some large donations from benefactors relating to campaigns begun during the year with £50,000 being received in April 2022. Further income received since the year end is stable and will exceed the amount raised in this accounting period. We are in the process of obtaining additional sources of revenue, new partnerships and are also applying for relevant grants.
The Trustees consider the financial position of the Company to be more than satisfactory and at the time of this Report and sufficient and appropriate reserves are held to safeguard the future operations of the Company. We are committed to holding reserves of approximately £100,000 to safeguard our future growth ambitions and expansion.
In 2022, we have vastly reduced the cost per donation to our partner charities and overhauled our logistics operation. We anticipate that our expenditure will have dropped as a direct result of this, and this is despite growing our team to now include a development manager to spearhead the further growth of Beauty Banks.
We continue to raise awareness of hygiene poverty via targeted campaigns and, increasingly with corporate fundraising activities. We launched a 'micro donations' campaign with text mechanism to allow people to donate as little as £1 and every penny raised from this fund is spent directly on essential toiletries and dispatched to those in need.
Beauty Banks now has 400 partnerships, supporting charities and poverty support organisations, schools, prisons, care leaver services and hospitals across the UK in all regions. We have centralised our warehouse systems and have a regular team of volunteers at this site.
In the current cost of living crisis, we are increasing our output month on month to get more products to partner charities, more frequently. Our focus for the year ahead is to increase revenue now that we have reduced expenditure and overhauled our logistics operations.
Volunteers
We recognise that volunteers are a valuable resource to our charity and help us run the charity efficiently. A volunteer is not an employee and will not have a contract of employment with the charity. Volunteering is defined as unpaid activities undertaken by individuals who freely offer their time and commitment to contribute to our work. We ensure that systems are in place to enable volunteers to claim out of pocket expenses, including travelling costs. We strive to integrate volunteers into our organisational structure and we welcome volunteers from all social, cultural and ability backgrounds to join us. We are in the process of launching a volunteer programme to further develop and grow this network of support within Beauty Banks.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11819908 (England and Wales)
Registered Charity number
1184944
Page 1
Beauty Banks
Report of the Trustees for the Year Ended 28 February 2022
Registered office
Musgrove 145 Gresham Road Staines Upon Thames London TW18 2AG
Trustees
Mrs J Dexter (resigned 1.5.21) Ms S Hughes Mrs J L Jones Mr J P Prayag Mrs N Watson (appointed 1.4.22) Mrs S Rissbrook (appointed 16.4.22)
Independent Examiner
Martin Macario FCA ICAEW Macario Lewin Chartered Accountants Bellarmine House 14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs J L Jones - Trustee
Page 2
Independent Examiner's Report to the Trustees of Beauty Banks
Independent examiner's report to the trustees of Beauty Banks ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 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 2. 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.
Martin Macario FCA ICAEW Macario Lewin Chartered Accountants Bellarmine House 14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Date: .............................................
Page 3
Beauty Banks
Statement of Financial Activities
for the Year Ended 28 February 2022
| 28.2.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 88,683 EXPENDITURE ON Raising funds 2 198,516 NET INCOME/(EXPENDITURE) (109,833) RECONCILIATION OF FUNDS Total funds brought forward 233,063 TOTAL FUNDS CARRIED FORWARD 123,230 |
28.2.21 Total funds £ 424,493 |
|---|---|
| 192,377 | |
| 232,116 947 |
|
| 233,063 |
The notes form part of these financial statements
Page 4
Beauty Banks
Balance Sheet
28 February 2022
| 28.2.22 Unrestricted fund Notes £ CURRENT ASSETS Stocks 5 500 Debtors 6 924 Cash at bank 145,448 146,872 CREDITORS Amounts falling due within one year 7 (23,642) NET CURRENT ASSETS 123,230 TOTAL ASSETS LESS CURRENT LIABILITIES 123,230 NET ASSETS 123,230 FUNDS 8 Unrestricted funds 123,230 TOTAL FUNDS 123,230 |
28.2.21 Total funds £ 3,200 18,198 221,356 242,754 (9,691) 233,063 233,063 233,063 233,063 233,063 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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
-
(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.
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 ............................................. and were signed on its behalf by:
.............................................
Ms S Hughes - Trustee
The notes form part of these financial statements
Page 5
Beauty Banks
Notes to the Financial Statements for the Year Ended 28 February 2022
1. 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 28.2.22 | 28.2.21 | |
| £ | £ | |
| Support costs | 71,230 | 53,002 |
3.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2022 nor for the year ended 28 February 2021.
Trustees' expenses
| Trustees' expenses | ||
|---|---|---|
| 28.2.22 | 28.2.21 | |
| £ | £ | |
| Trustees' expenses | 190 | 1,644 |
Page 6
continued...
Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. STOCKS Stocks 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses 8. MOVEMENT IN FUNDS At 1.3.21 £ Unrestricted funds General fund 233,063 TOTAL FUNDS 233,063 |
Unrestricted fund £ 424,493 192,377 232,116 947 233,063 28.2.22 28.2.21 £ £ 500 3,200 28.2.22 28.2.21 £ £ 924 18,198 28.2.22 28.2.21 £ £ 16,424 7,291 1,085 - 3,583 - 2,550 2,400 23,642 9,691 Net movement At in funds 28.2.22 £ £ (109,833) 123,230 (109,833) 123,230 |
|---|---|
Page 7
continued...
Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 88,683 TOTAL FUNDS 88,683 Comparatives for movement in funds At 1.3.20 £ Unrestricted funds General fund 947 TOTAL FUNDS 947 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 424,493 TOTAL FUNDS 424,493 |
Resources Movement expended in funds £ £ (198,516) (109,833) (198,516) (109,833) Net movement At in funds 28.2.21 £ £ 232,116 233,063 232,116 233,063 Resources Movement expended in funds £ £ (192,377) 232,116 (192,377) 232,116 |
Resources Movement expended in funds £ £ (198,516) (109,833) (198,516) (109,833) Net movement At in funds 28.2.21 £ £ 232,116 233,063 232,116 233,063 Resources Movement expended in funds £ £ (192,377) 232,116 (192,377) 232,116 |
|---|---|---|
| 232,116 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.3.20 £ 947 947 |
Net movement in funds £ 122,283 122,283 |
At 28.2.22 £ 123,230 |
|---|---|---|---|
| 123,230 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 513,176 513,176 |
Resources Movement expended in funds £ £ (390,893) 122,283 (390,893) 122,283 |
Resources Movement expended in funds £ £ (390,893) 122,283 (390,893) 122,283 |
|---|---|---|---|
| 122,283 |
Page 8
continued...
Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2022.
Page 9
Beauty Banks
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 28 February 2022 | |||
| 28.2.22 | 28.2.21 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 88,683 | 424,493 | |
| Total incoming resources | 88,683 | 424,493 | |
| EXPENDITURE | |||
| Other trading activities | |||
| Opening stock | 3,200 | - | |
| Purchases | 68,792 | 92,657 | |
| Trustees' expenses | 190 | 1,644 | |
| Commission | 321 | 5,183 | |
| Storage and waste management | 40,811 | 31,237 | |
| Transport | 14,472 | 11,854 | |
| Closing stock | (500) | (3,200) | |
| 127,286 | 139,375 | ||
| Support costs | |||
| Management | |||
| Wages | 7,500 | - | |
| Pensions | 225 | - | |
| Postage and stationery | 7,265 | 3,556 | |
| Sundries | 61 | 380 | |
| Administration services | 50,279 | 41,822 | |
| 65,330 | 45,758 | ||
| Human resources | |||
| Website and Software licences | 3,350 | 4,844 | |
| Governance costs | |||
| Accountancy and legal fees | 2,550 | 2,400 | |
| Total resources expended | 198,516 | 192,377 | |
| Net (expenditure)/income | (109,833) | 232,116 |
This page does not form part of the statutory financial statements
Page 10
REGISTERED COMPANY NUMBER: 11819908 (England and Wales) REGISTERED CHARITY NUMBER: 1184944
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2022
for
Beauty Banks
(A Company Limited by Guarantee)
14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Macario Lewin Chartered Accountants Bellarmine House
Beauty Banks
Contents of the Financial Statements for the Year Ended 28 February 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Beauty Banks
Report of the Trustees for the Year Ended 28 February 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 28 February 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
We believe that being clean is a basic human right, not a luxury and not a privilege. We exist to make 'hygiene poverty' history while supporting those living in poverty in the UK - those who can't afford to be clean - with personal care and hygiene essentials. This is about dignity, self-confidence and mental wellbeing. This is also about change. We support those in need while lobbying the UK government, as part of a Beauty APPG, to make change happen. Our aim is to support those requiring access to essential toiletries across all regions of the UK.
FINANCIAL REVIEW
This is our third accounting year. After two large and well-publicised fundraising campaigns in the previous accounting year, it is noted that both campaigns were pandemic-related and one was for NHS workers. Both campaigns were hugely successful and raised significant funds for the charity.
This year we received gross income amounting to £88,683 with a total expenditure of £198,516. Expenses therefore exceeded income by £109,833. However, since the year end we have received some large donations from benefactors relating to campaigns begun during the year with £50,000 being received in April 2022. Further income received since the year end is stable and will exceed the amount raised in this accounting period. We are in the process of obtaining additional sources of revenue, new partnerships and are also applying for relevant grants.
The Trustees consider the financial position of the Company to be more than satisfactory and at the time of this Report and sufficient and appropriate reserves are held to safeguard the future operations of the Company. We are committed to holding reserves of approximately £100,000 to safeguard our future growth ambitions and expansion.
In 2022, we have vastly reduced the cost per donation to our partner charities and overhauled our logistics operation. We anticipate that our expenditure will have dropped as a direct result of this, and this is despite growing our team to now include a development manager to spearhead the further growth of Beauty Banks.
We continue to raise awareness of hygiene poverty via targeted campaigns and, increasingly with corporate fundraising activities. We launched a 'micro donations' campaign with text mechanism to allow people to donate as little as £1 and every penny raised from this fund is spent directly on essential toiletries and dispatched to those in need.
Beauty Banks now has 400 partnerships, supporting charities and poverty support organisations, schools, prisons, care leaver services and hospitals across the UK in all regions. We have centralised our warehouse systems and have a regular team of volunteers at this site.
In the current cost of living crisis, we are increasing our output month on month to get more products to partner charities, more frequently. Our focus for the year ahead is to increase revenue now that we have reduced expenditure and overhauled our logistics operations.
Volunteers
We recognise that volunteers are a valuable resource to our charity and help us run the charity efficiently. A volunteer is not an employee and will not have a contract of employment with the charity. Volunteering is defined as unpaid activities undertaken by individuals who freely offer their time and commitment to contribute to our work. We ensure that systems are in place to enable volunteers to claim out of pocket expenses, including travelling costs. We strive to integrate volunteers into our organisational structure and we welcome volunteers from all social, cultural and ability backgrounds to join us. We are in the process of launching a volunteer programme to further develop and grow this network of support within Beauty Banks.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11819908 (England and Wales)
Registered Charity number
1184944
Page 1
Beauty Banks
Report of the Trustees for the Year Ended 28 February 2022
Registered office
Musgrove 145 Gresham Road Staines Upon Thames London TW18 2AG
Trustees
Mrs J Dexter (resigned 1.5.21) Ms S Hughes Mrs J L Jones Mr J P Prayag Mrs N Watson (appointed 1.4.22) Mrs S Rissbrook (appointed 16.4.22)
Independent Examiner
Martin Macario FCA ICAEW Macario Lewin Chartered Accountants Bellarmine House 14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs J L Jones - Trustee
Page 2
Independent Examiner's Report to the Trustees of Beauty Banks
Independent examiner's report to the trustees of Beauty Banks ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 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 2. 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.
Martin Macario FCA ICAEW Macario Lewin Chartered Accountants Bellarmine House 14 Upper Church Street Chepstow Monmouthshire NP16 5EX
Date: .............................................
Page 3
Beauty Banks
Statement of Financial Activities
for the Year Ended 28 February 2022
| 28.2.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 88,683 EXPENDITURE ON Raising funds 2 198,516 NET INCOME/(EXPENDITURE) (109,833) RECONCILIATION OF FUNDS Total funds brought forward 233,063 TOTAL FUNDS CARRIED FORWARD 123,230 |
28.2.21 Total funds £ 424,493 |
|---|---|
| 192,377 | |
| 232,116 947 |
|
| 233,063 |
The notes form part of these financial statements
Page 4
Beauty Banks
Balance Sheet
28 February 2022
| 28.2.22 Unrestricted fund Notes £ CURRENT ASSETS Stocks 5 500 Debtors 6 924 Cash at bank 145,448 146,872 CREDITORS Amounts falling due within one year 7 (23,642) NET CURRENT ASSETS 123,230 TOTAL ASSETS LESS CURRENT LIABILITIES 123,230 NET ASSETS 123,230 FUNDS 8 Unrestricted funds 123,230 TOTAL FUNDS 123,230 |
28.2.21 Total funds £ 3,200 18,198 221,356 242,754 (9,691) 233,063 233,063 233,063 233,063 233,063 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(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.
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 ............................................. and were signed on its behalf by:
.............................................
Ms S Hughes - Trustee
The notes form part of these financial statements
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Beauty Banks
Notes to the Financial Statements for the Year Ended 28 February 2022
1. 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 28.2.22 | 28.2.21 | |
| £ | £ | |
| Support costs | 71,230 | 53,002 |
3.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2022 nor for the year ended 28 February 2021.
Trustees' expenses
| Trustees' expenses | ||
|---|---|---|
| 28.2.22 | 28.2.21 | |
| £ | £ | |
| Trustees' expenses | 190 | 1,644 |
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Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. STOCKS Stocks 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses 8. MOVEMENT IN FUNDS At 1.3.21 £ Unrestricted funds General fund 233,063 TOTAL FUNDS 233,063 |
Unrestricted fund £ 424,493 192,377 232,116 947 233,063 28.2.22 28.2.21 £ £ 500 3,200 28.2.22 28.2.21 £ £ 924 18,198 28.2.22 28.2.21 £ £ 16,424 7,291 1,085 - 3,583 - 2,550 2,400 23,642 9,691 Net movement At in funds 28.2.22 £ £ (109,833) 123,230 (109,833) 123,230 |
|---|---|
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Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 88,683 TOTAL FUNDS 88,683 Comparatives for movement in funds At 1.3.20 £ Unrestricted funds General fund 947 TOTAL FUNDS 947 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 424,493 TOTAL FUNDS 424,493 |
Resources Movement expended in funds £ £ (198,516) (109,833) (198,516) (109,833) Net movement At in funds 28.2.21 £ £ 232,116 233,063 232,116 233,063 Resources Movement expended in funds £ £ (192,377) 232,116 (192,377) 232,116 |
Resources Movement expended in funds £ £ (198,516) (109,833) (198,516) (109,833) Net movement At in funds 28.2.21 £ £ 232,116 233,063 232,116 233,063 Resources Movement expended in funds £ £ (192,377) 232,116 (192,377) 232,116 |
|---|---|---|
| 232,116 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.3.20 £ 947 947 |
Net movement in funds £ 122,283 122,283 |
At 28.2.22 £ 123,230 |
|---|---|---|---|
| 123,230 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 513,176 513,176 |
Resources Movement expended in funds £ £ (390,893) 122,283 (390,893) 122,283 |
Resources Movement expended in funds £ £ (390,893) 122,283 (390,893) 122,283 |
|---|---|---|---|
| 122,283 |
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Beauty Banks
Notes to the Financial Statements - continued for the Year Ended 28 February 2022
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2022.
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Beauty Banks
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 28 February 2022 | |||
| 28.2.22 | 28.2.21 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 88,683 | 424,493 | |
| Total incoming resources | 88,683 | 424,493 | |
| EXPENDITURE | |||
| Other trading activities | |||
| Opening stock | 3,200 | - | |
| Purchases | 68,792 | 92,657 | |
| Trustees' expenses | 190 | 1,644 | |
| Commission | 321 | 5,183 | |
| Storage and waste management | 40,811 | 31,237 | |
| Transport | 14,472 | 11,854 | |
| Closing stock | (500) | (3,200) | |
| 127,286 | 139,375 | ||
| Support costs | |||
| Management | |||
| Wages | 7,500 | - | |
| Pensions | 225 | - | |
| Postage and stationery | 7,265 | 3,556 | |
| Sundries | 61 | 380 | |
| Administration services | 50,279 | 41,822 | |
| 65,330 | 45,758 | ||
| Human resources | |||
| Website and Software licences | 3,350 | 4,844 | |
| Governance costs | |||
| Accountancy and legal fees | 2,550 | 2,400 | |
| Total resources expended | 198,516 | 192,377 | |
| Net (expenditure)/income | (109,833) | 232,116 |
This page does not form part of the statutory financial statements
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