**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 2025 for Beauty Banks (A Company Limited by Guarantee)** Macario Lewin Chartered Accountants Bellarmine House 14 Upper Church Street Chepstow Monmouthshire NP16 5EX **Beauty Banks** ## **Contents of the Financial Statements for the Year Ended 28 February 2025** **----- Start of picture text -----**
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
DRAFT
**----- End of picture text -----**
**Beauty Banks** ## **Report of the Trustees for the Year Ended 28 February 2025** 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 2025. 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** ## **Financial position** Beauty Banks charity continues to grow and expand its during the period and this meant the charity could reach more attempting to keep pace with demand, means costs have through an ongoing focus on slowing growth and donations increased during this accounting period, support through corporate donations and providing their the accounting year to £290,369 (2024: £246,959) is are £26,511 (2024: £69,330). The focus for 2025/26 is to through cost containment and an increase in fundraising. on trusts and grants fundraising and other more traditional higher income levels of £250k-£350k in the coming years, cost of each donation sent to partner organisations work with retailers, cosmetics brands and multinationals was a Bulk donations of toiletries and essentials are sent to the hubs are donated spaces by corporate partners. These donations were received by over 1,100 nationwide partnerships This is our sixth accounting year. Beauty Banks charity continues to grow and expand its services and reach across the UK. Product donations increased during the period and this meant the charity could reach more people with donations. Fulfilling the charity purposes and attempting to keep pace with demand, means costs have risen out of line with donations. This is being addressed through an ongoing focus on slowing growth and containing costs to ensure the charity can live within its means. Our income from corporate financial donations increased during this accounting period, primarily via corporate partnerships who continue to support through corporate donations and providing their staff with packing day experiences. The increase in income within the accounting year to £290,369 (2024: £246,959) is outpaced by an increase in expenditure to £333,188 (2024: £293,949). This leads to a deficit for the year of £42,819 (2024: £46,990 deficit). Unrestricted reserves of the charity are £26,511 (2024: £69,330). The focus for 2025/26 is to ensure these reserves are built back up to a strong position through cost containment and an increase in fundraising. Since the end of the accounting year we have reduced our salary expense in particular. In 2024/25, we had some success on trusts and grants fundraising and other more traditional project-specific awards albeit it was smaller and slower than we hoped for. Whilst we are on track to maintain higher income levels of £250k-£350k in the coming years, we continue to work to stabilise expenditure in line with this and maintain adequate reserves. We continued to reduce the average cost of each donation sent to partner organisations without any compromise on size or quality. Our engagement work with retailers, cosmetics brands and multinationals was a major factor in enabling us to keep pace with demand. Bulk donations of toiletries and essentials are sent to the three separate warehouse 'hubs'. Two of the warehouse hubs are donated spaces by corporate partners. These warehouses help keep our delivery costs and environmental impact lower as they supply their local markets. During the accounting period, donations were received by over 1,100 nationwide partnerships with Beauty Banks, spread throughout the United Kingdom. The average cost of our donations has been further reduced to less than £50 from £90 in 2023/24 due mainly to a larger volume of product donations across the categories we typically supply. However, the increase in volume of donations made has increased our warehouse and logistics costs and as volumes continue to rise we expect these costs to remain high. ## **Campaigns** We continue to run awareness campaigns. Our Stay Fresh campaign, designed to help children living in poverty stay clean and fresh through the school holidays, received significant press coverage. This helped many children have a healthier and happier summer. Donations through the campaign were over £20,000 and along with text donations of over £4,500 are more modest forms of fundraising however the campaigns have strong reach. We will continue to increase our donor engagement and to improve repeat donations in the future. Whilst we anticipate that the fundraising landscape remains challenging, we will continue to run bi-annual campaigns. ## **Going concern** The trustees have carefully reviewed the financial position of the charity and are confident it will continue to meet all of its expenditure obligations. Page 1 **Beauty Banks** ## **Report of the Trustees for the Year Ended 28 February 2025** ## **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. ## **Volunteers** We have expanded our network of volunteers at the charity in 2024/25. We have continued to develop and train our existing team, offering training opportunities with tangible results. Volunteer engagement and retention remains high and we have 20 regular warehouse volunteers in addition to over 35 nationwide supporters (our 'beauty bankers') who collect product donations for us within their communities and distribute them on our behalf to partnered charities. 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. - into our organisational structure and we welcome volunteers **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 11819908 (England and Wales) **Registered Charity number** 1184944 ## **Registered office** Lower Ground Floor 4 Powis Road Brighton BN1 3HJ ## **Trustees** Ms S Hughes Mrs J L Jones Mr J P Prayag Mrs N Watson Mrs S Rissbrook Mr R L Fellows Mr T A G Spiff ## **Independent Examiner** Martin Macario FCA 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 2025. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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 matters have come to my attention in connection with the examination giving me cause to believe: - with the accounting requirements of Section 396 of the give a true and fair view which is not a matter - prepared in accordance with the methods and principles - for accounting and reporting by charities (applicable to the Financial Reporting Standard applicable in the UK and - across no other matters in connection with the examination 1. 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 3. 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 4. 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 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 2025** 28.2.25 29.2.24 Unrestricted Total fund funds Notes £ £ **INCOME AND ENDOWMENTS FROM** Donations and legacies 290,252 246,959 **Charitable activities** Grant funding 117 - **Total** 290,369 246,959 **EXPENDITURE ON Raising funds** Raising donations and legacies 2 170,430 143,916 Other trading activities 162,758 150,033 333,188 293,949 **NET INCOME/(EXPENDITURE)** (42,819) (46,990) **RECONCILIATION OF FUNDS** Total funds brought forward 69,330 116,320 **TOTAL FUNDS CARRIED FORWARD** 26,511 69,330 The notes form part of these financial statements Page 4 ## **Beauty Banks** ## **Balance Sheet** ## **28 February 2025** |28.2.25
29.2.24| |---| |Unrestricted
Total| |fund
funds| |Notes
£
£| |**CURRENT ASSETS**| |Stocks
5
500
500| |Debtors
6
3,419
1,997| |Cash at bank
50,912
76,755| |54,831
79,252| |**CREDITORS**| |Amounts falling due within one year
7
(28,320)
(9,922)| |**NET CURRENT ASSETS**
26,511
69,330| |**DRAFT**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
26,511
69,330
**NET ASSETS**
26,511
69,330
**FUNDS**
8
Unrestricted funds
26,511
69,330
**TOTAL FUNDS**
26,511
69,330
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the yea
ended 28 February 2025.
The members have not required the company to obtain an audit of its financial statements for the year ende
28 February 2025 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 th
Companies Act 2006 and
(b)
preparing financial statements which give a true and fair view of the state of affairs of the charitable company a
at the end of each financial year and of its surplus or deficit for each financial year in accordance with th
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies A
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 companie
subject to the small companies regime.
The
financial
statements
were
approved
by
the
Board
of
Trustees
and
authorised
for
issue
o| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 2025** ## **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** ## **2.** 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. it is probable that a transfer of economic benefits will be can be measured reliably. Expenditure is accounted for on headings that aggregate all cost related to the category. headings they have been allocated to activities on a basis lower of cost and net realisable value, after making due be used for particular restricted purposes within the objects of operates a defined contribution pension scheme. scheme are charged to the Statement of Financial Activities ## **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. ## **RAISING DONATIONS AND LEGACIES** 28.2.25 29.2.24 £ £ Support costs 170,430 143,916 ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024. ## **Trustees' expenses** 28.2.25 29.2.24 £ £ Trustees' expenses 767 215 Page 6 continued... **Beauty Banks** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**INCOME AND ENDOWMENTS FROM**|||| ||Donations and legacies|||246,959| ||**EXPENDITURE ON**|||| ||**Raising funds**|||| ||Raising donations and legacies|||143,916| ||Other trading activities|||150,033| |||||293,949| ||**NET INCOME/(EXPENDITURE)**|||(46,990)| |**5.**
**6.**
**7.**|**DRAFT**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**STOCKS**
28.2.25
£
Stocks
500
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
28.2.25
£
Prepayments and accrued income
3,419
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
28.2.25
£
Trade creditors
1,196
Social security and other taxes
3,542
Other creditors
768
Deferred grant income
19,874
Accrued expenses
2,940
28,320|||116,320
69,330
29.2.24
£
500
29.2.24
£
1,997
29.2.24
£
2,762
3,601
739
-
2,820
9,922| |**8.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.3.24|in funds|28.2.25| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|69,330|(42,819)|26,511| ||**TOTAL FUNDS**|69,330|(42,819)|26,511| Page 7 continued... **Beauty Banks** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **8. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**DRAFT**
Incoming
resources
£
**Unrestricted funds**
General fund
290,369
**TOTAL FUNDS**
290,369
**Comparatives for movement in funds**
At 1.3.23
£
**Unrestricted funds**
General fund
116,320
**TOTAL FUNDS**
116,320
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
246,959
**TOTAL FUNDS**
246,959
A current year 12 months and prior year 12 months combined position is as follows:
At 1.3.23
£
**Unrestricted funds**
General fund
116,320
**TOTAL FUNDS**
116,320|Resources
Movement
expended
in funds
£
£
(333,188)
(42,819)
(333,188)
(42,819)
Net
movement
At
in funds
29.2.24
£
£
(46,990)
69,330
(46,990)
69,330
Resources
Movement
expended
in funds
£
£
(293,949)
(46,990)
(293,949)
(46,990)
Net
movement
At
in funds
28.2.25
£
£
(89,809)
26,511
(89,809)
26,511| |---|---| 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
£
537,328
537,328|Resources
Movement
expended
in funds
£
£
(627,137)
(89,809)
(627,137)
(89,809)| |---|---|---| Page 8 continued... **Beauty Banks** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 28 February 2025. ## Page 9 ## **Beauty Banks** ||**Detailed Statement of Financial Activities**||| |---|---|---|---| ||**for the Year Ended 28 February 2025**||| |||28.2.25|29.2.24| |||£|£| |**INCOME AND ENDOWMENTS**|||| |**Donations and legacies**|||| |Donations||290,252|246,959| |**Charitable activities**|||| |Grants||117|-| |**Total incoming resources**||290,369|246,959| |**EXPENDITURE**|||| |**Other trading activities**|||| |Opening stock
Purchases
Trustees' expenses
Commission
Storage and warehouse costs
Transport
Closing stock
**Support costs**
**Management**
Wages
Social security
Pensions
Telephone
Postage and stationery
Sundries
Administration services
**Human resources**
Website and Software licences
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net expenditure**|**DRAFT**
500
14,992
767
221
72,360
74,418
(500)
162,758
128,863
9,017
3,839
1,739
1,985
1,379
18,496
165,318
2,172
2,940
333,188
(42,819)||500
38,737
215
417
60,399
50,265
(500)
150,033
112,174
7,287
3,068
2,504
2,208
3,036
5,849
136,126
4,970
2,820
293,949
(46,990)| This page does not form part of the statutory financial statements Page 10