2024-12-31-accounts - Nipple Innovation Project

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Nipple Innovation Project

Report and Financial Statements For the Year Ended 31 December 2024

Charity number 1188561

Charitable Incorporated Organisation (CIO) Foundation Registered 16 March 2020

Nipple Innovation Project

Trustee’s Annual Report For Year Ended 31[st] December 2024

The trustees present their annual report and financial review for the period 1[st] January 2024 to 31[st] December 2024

Reference and Administrative Information

Charity Name: Nipple Innovation Project Charity registration number: 1188561 Charity type: Charitable Incorporated Organisation (CIO) Registration Date: 16[th] March 2020 Registered Office: Annexe, 1A The Nook, Hallowes Park Road, Cullingworth, Bradford. BD13 5AS Trustees: Lucy Gemma Thompson (Chair) Jennifer Hutchinson Kedar Karandikar Laura Wood Charlotte Peters

Chair’s Statement

2024 has been a transformative year for our charity. With growing awareness and support, we’ve been able to expand our reach and impact, helping more individuals reclaim their confidence and sense of self after breast cancer surgery. Our mission to provide free nipple tattoos to survivors continues to be at the heart of everything we do.

Objectives and Activities

Our primary objectives remain to promote emotional and mental wellbeing among breast cancer & mastectomy patients & survivors by:

Providing funding for permanent 3D nipple / areola & mastectomy tattoos.
Raising awareness of permanent 3D nipple / areola & mastectomy tattoos.
Providing a directory of suitably qualified areola restoration tattoo artists.

We continue to o�er restorative nipple tattoos to individuals a�ected by breast cancer and a loss of a nipple, free of charge. These tattoos are not merely cosmetic - they are deeply symbolic and healing, helping survivors feel whole again.

In 2024, we focused on:

Increasing accessibility to our services across the UK.
Partnering with skilled medical tattoo artists.
Raising awareness through community events and campaigns.

Achievements and Performance

Thanks to the generosity of our supporters and partners, we accomplished several achievements this year:

NHS Partnership
We were honoured to establish a pioneering partnership with Bradford Teaching Hospitals NHS Foundation Trust, marking the first instance of NHS funding being allocated to support our charity’s services. This groundbreaking collaboration represents a significant milestone in raising awareness of the vital role restorative nipple tattoos play in post-cancer recovery. We are actively building on this success to develop similar partnerships with NHS trusts across the UK, ensuring more individuals in need can access our services.
£18,000 National Lottery Community Grant

This vital funding enabled us to expand our outreach, train additional tattoo artists, and subsidize travel costs for clients in remote areas.

Over £4,000 Raised by K & Co’s “Glitz the Nip” Night

A glamorous and empowering evening that brought together survivors, supporters, and local businesses. The funds raised supported our awareness campaign and helped cover tattooing costs for 13 individuals.

£1,250 Raised by Hebden Bridge Women’s Institute Their heartfelt support and fundraising e�orts helped us provide tattoos to 4 more survivors and spread our message in the local community.
TEDx NHS

The charity’s founder and trustee, Lucy Thompson, was invited to deliver a TEDx talk on the subject of restorative areola tattooing - a significant milestone both for Lucy personally and for the wider visibility of the charity’s work.

The opportunity to speak on such a prestigious platform was a profound honour and a testament to Lucy’s dedication to advancing awareness of postmastectomy tattooing as a vital part of physical and emotional recovery. Her talk highlighted the transformative impact of 3D nipple tattoos for individuals a�ected by breast cancer, and the importance of integrating this service more widely into NHS aftercare pathways.

In total, we supported over 34 individuals this year, each receiving a bespoke nipple tattoo designed to restore confidence and dignity.

Financial Review

The opening balance for the year was £13,570. Income from donations, fundraisers, grants, merchandise sales and proving services to NHS patients totalled £52,151 for the period. Expenditure totalled £18,171, of which £9,370 was spent directly on mastectomy tattoo treatments. Net receipts and payments for the financial year were £33,980. The closing balance as of 31[st] December 2024 is £47,550.

Reserves policy

The Trustees made the decision and continue to work towards building and/or retaining a constant surplus, equating the total of six months of costs, to reduce the burden or need for potential redundancy and or financial crisis situations.

Trustee and Related Party Transactions

During the year, one trustee, Lucy Thompson, received a total of £6,525 for the provision of restorative areola tattoo services delivered on behalf of the charity. This payment was made in accordance with the charity’s governing document and was authorised by the non-conflicted trustees, with a formal written agreement in place.

The payment was made under the statutory power set out in Section 185 of the Charities Act 2011, and in line with the Charity Commission’s guidance CC11: Trustee expenses and payments . The trustees confirmed that the arrangement was in the best

interests of the charity, the payment was reasonable and proportionate, and that no more than half of the trustee board were receiving remuneration or connected to someone who was.

The breakdown of the payment is as follows:

£4,125 for restorative areola tattoo services, provided to NHS patients, reimbursed by the NHS.
£2,150 for restorative areola tattoo services, funded by National Lottery grant (restricted funds)
£250 for restorative areola tattoo, funded by the charity’s unrestricted funds

During the year, four trustees were reimbursed a total of £570.97 for expenses incurred in the course of their duties. These expenses related to:

Insurance costs
Travel and subsistence for attendance at tattoo conventions
Software subscriptions
Postage
Equipment for charity stalls

In accordance with Charity Commission guidance CC11, trustee expenses are not considered personal benefits or remuneration, but rather the reimbursement of legitimate costs incurred while fulfilling trustee responsibilities. The Commission encourages charities to cover such expenses to ensure trustees are not financially disadvantaged by their role.

Impact Statement

Our work is about more than tattoos - it’s about healing, empowerment, and reclaiming identity.

The feedback we receive from recipients is consistently powerful and moving. Many describe the experience as “life changing”, with some sharing that it was the first time they felt truly themselves again. These moments of transformation are at the heart of what we do.

We are incredibly proud to play a role in these journeys and remain committed to ensuring that restorative tattooing is recognised not just as an aesthetic service, but as an essential part of holistic, trauma-informed care.

Thank You

To our volunteers, tattoo artists, funders, NHS partners, and every individual who has supported our journey - thank you. Your kindness, generosity and belief in our mission enables us to continue to help others by delivering life-changing services.

Nipple Innovation Project

Statement of receipts and payments for year ended 31st December 2024

2024 2024 Unrestricted Restricted funds Funds £ £ Receipts Donations and legacies 10,408 - Fundraising Income 18,781 - Other trading activities - Nipple Tattoo Services 4,225 - Other trading activities - Sale of merchandise 637 - Other income 100 - Income from grants - 18,000 Total Income 34,151 18,000 Payments 5,545 5,350 3,844 - Expenditure on raising funds 2,982 - Governance Costs – Regulatory Fees 35 - Support Costs - IT & Communications 415 - Total resources expended 12,821 5,350 Net Receipts/Payments 21,330 12,650 Nipple Innovation Project Statement of assets and liabilities for year ended 31st December 2024 Cash at Bank Funds at start of year 11,920 1,650 Net Receipts/Payments 21,330 12,650 Fund at end of year 33,250 14,300 Expenditure on charitable activities - Nipple Tattoo Services Expenditure on charitable activities - Awareness & Outreach	2024 Total funds £ 10,408 18,781 4,225 637 100 18,000 52,151 10,895 3,844 2,982 35 415 18,171 33,980 13,570 33,980 47,550	2023 Total funds £ 11,873 - - 423 - - 12,296 6,750 - 1,828 - - 8,578 3,718 11,096 2,474 13,570

Independent Examiner’s Report to the Trustees of Nipple Innovation Project (CIO)

Charity No: 1188561

Period of Accounts

01/01/2024 – 31/12/24

Examination conducted by: Peter Clarke MAAT BA (Hons) FBS ACCA Diploma in Accounting & Business

Introduction & Scope

The Nipple Innovation Project for the period of accounts covering 1[st] January 2024 to the 31[st] December 2024 have elected to produce their accounts on a receipts and payments basis and have not required an audit to be conducted. The examiner was satisfied that the charity for the period of the accounts covered was not required to undertake an audit and an independent examination was appropriate. The examiner received acceptance of this engagement on 1[st] July 2025.

The examiner was satisfied that no parents or subsidiaries exist for the charity. The examiner is also satisfied that the charity is not required to produce accruals accounts, and has no reason to believe that the income threshold (£250,000) is likely to be crossed in the near future.

Qualification of the examiner

The examiner, Mr Peter Clarke of 29 Longlands Drive, Cross Roads, Keighley, BD22 8RF, is a full member of the Association of Accounting Technicians (AAT) and a student member of the Association of Chartered Certified Accountants (ACCA). The examiner holds no license or practice certificate from either body and is not in public practice. This means the examiner does not offer accountancy services to the public and is not licensed to do so.

The work for this examination was undertaken and conducted under the "Honorary Work Exemptions" as per ACCA regulation 4, which permits the examiner to undertake work for "friends, family & local charities" for free. The examiner has not received any remuneration or out of pocket expenses for the work in producing this review and conducting the examination. The above disclosure was made to the board of trustees priors to the engagement being accepted by Charlotte Peters on behalf of the board on 1[st] July 2025.

The examiner is satisfied there exists no conflict of interest and that they are not influenced, or perceived to be influenced, by either close personal relationships with the trustees of the charity, is not a major donor or has control or significant influence over a major funder to the charity, or has day to day involvement in the administration of the charity being examined. The examiner is satisfied that there are no matters and no potential matters that would reasonably give rise to a perception of their independence that would affect their ability to carry out the examination in a wholly objective manner.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is appropriate.

The examiner’s responsibility is to:

examine the accounts under section 145 of the Act,
follow the procedures laid down in the Charity Commission’s guidance (CC32), and
State whether matters have come to the attention.

Basis of independent examiner’s report

The examination was carried out in accordance with the directions given by the Charity Commission under section 145(5)(b) of the Act and with general principles of independent examination. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from the trustees.

The procedures undertaken do not provide all the evidence that would be required in an audit and consequently the examiner does not express an audit opinion.

Findings

During the course of the examination, the examiner noted the following matters which, while not affecting the accounts prepared, should be considered by the trustees:

Bank reconciliations – The charity completed monthly bank reconciliations to a high degree of accuracy which were supported by a full set of documentation for the period covered. While some differences were observed these were not material and would not affect the accounts prepared.
Expenditure – Sample testing items of expenditure were undertaken from both restricted and non-restricted funds. All items sampled were supported by invoices and receipts, as well relevant authorisation from the trustees. These were also found to be recorded accurately. The level of expenditure however is well below what is typical as a proportion of the charity’s income.
Restricted Funds – the charity does in its accounts show restricted funds, however it does not give a breakdown of the funds and any movements within them. Income from significant grants were supported by documentation and were accounted for correctly.
Reserves – At the end of the financial period the charity’s were found to be over twice the level of yearly expenditure. While trustees have provided explanations that this is to fund plans for growth, the minutes of the charity do not seem to support this or make resolutions regarding definitive plans for growth.
Related Party Transactions – the charity uses as one of its suppliers for mastectomy tattoos the chair of the trustees Lucy Thompson. While the charity has in place policies in regards to related party transactions and has imposed specific safeguards in relation to authorisation of such payments, it is important that the charity adheres to these policies and procedures when payments relate to individuals with significant influence or control. The charity has reported these as part of their financial statements.
Corporate Governance – the charity maintains minutes of its trustee meetings and holds meetings regularly. However from the minutes it appears that meetings are

attended by a number of associated persons and does not make clear which attendees are trustees and are able to vote on resolutions of the charity. The minutes do not seem to follow a set agenda and often contain information not relevant to the governance of the charity.

Budgeting & Financial Planning – the charity does not have a yearly budget or financial forecast for the period covered.
Gift Aid claims – eligible donations are not being claimed under the Gift Aid scheme, resulting in potential lost income.

Recommendations

The examiner recommend that the trustees consider the following actions:

To produce and regularly review financial budgets for short to medium term (1 to 5 years), including any proposed capital and investment expenditure.
To report income, expenditure and movements in specific restricted funds.
To improve the clarity of minutes by listing trustees attending, including structured agendas, removing unnecessary information and recording resolutions clearly.
Review historic and current donations to establish if Gift Aid can be claimed, and implement a process to claim Gift Aid regularly going forward.
Carefully consider expenditure is at an appropriate level as a proportion of income to ensure that resources are being used to enhance the charity’s objectives. To also ensure that the charity does not hold excessive cash reserves unless held for specific capital or investment purposes. It is recommended that the charity holds a general cash reserve of no more than 12 months operating expenditure.

Independent examiner’s statement

In connection with the examination, no matter has come to the attention:

which gives me reasonable cause to believe that in any material respect the accounting records have not been properly kept in accordance with section 130 of the Act; or
which gives me reasonable cause to believe that the accounts do not accord with the accounting records; or
which gives me reasonable cause to believe that the accounts do not comply with the accounting requirements of the Act; or
to which, in the opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

Peter Clarke , MAAT BA (Hons) FBS – ACCA Diploma in Business & Accounting Date: 02/09/25