REGISTERED COMPANY NUMBER: 12593856 (England and Wales) REGISTERED CHARITY NUMBER: 1189533
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
FOR
SUNSHINE BABY BANK
Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
SUNSHINE BABY BANK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 8 |
| Independent Examiner's Report | 9 | ||
| Statement of Financial Activities | 10 | ||
| Balance Sheet | 11 | ||
| Notes to the Financial Statements | 12 | to | 15 |
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 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 31 May 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
Sunshine Baby Bank is a new charity registered on 18 May 2020 following incorporation as a company limited by guarantee on 11 May 2020.
The charity's objects are:
-
(1) the prevention and relief of poverty or financial hardship by providing grants, items and services to individuals in need and/or charities and other organisations working to prevent or relieve poverty and financial hardship; and
-
(2) the advancement of health and wellbeing;
in particular (but not exclusively) in Rochford, Southend-on-Sea and the surrounding area.
Whilst the objects are drawn widely for any future geographical reach, since inception the Baby Bank delivery is almost exclusively focused on the Southend-on-Sea City area and the charity now operates from dedicated premises, in Westcliff-on-Sea under a peppercorn lease. Known as Labyrinth House, it is an innovative 'Family Hub' and has two main functions: a) as a seed bed centre for start-up charities and public bodies sharing the same mission, aims and objectives of the Charity and b) an exemplar Family Hub addressing child poverty, educational development and other related community services.
Funding and related activity
At the outset, two Deed of Gifts of £50k and £9k was received to be used as funding, to deliver the charity's objectives and to establish the delivery infrastructure and online service. In the course of the financial year a further £14,818 was received from HMRC as Gift Aid in respect of the Gifts.
The project funds have been used for the delivery of the following objectives and activities:
-
(1) Provide the essential items of equipment, clothing, toys and baby products of immediate use to mothers, fathers and carers, babies and children up to age 5 (and above) free of charge.
-
(2) Provide support during the COVID-19 pandemic and beyond to address the urgent acute needs of pregnant women, new born babies, home births, neo-natal babies, including babies born premature or sick and their parents facing isolation, mental health and wellbeing challenges.
-
(3) To support key workers from multi-agencies and providers working with babies and children in poverty, to deliver services during the COVID-19 pandemic and beyond.
-
(4) To provide services that can be accessed by families and providers of Baby Bank services and support to children living in poverty across the UK.
-
(5) To operate Labyrinth House as a seed bed centre by offering serviced rooms for lease and hire to charities, public bodies and like-minded organisations focusing on relief of child poverty, education, therapeutic services and community services.
Significant activities
The trustees consider both the supply of essential items of equipment, clothing, toys for learning and other products of immediate use to mums, babies and children up to age 5 and the Labyrinth House 'Family Hub' serviced seed bed centre to be its significant activities. The trustees actively seek to support suitable projects that they consider will achieve the charity's objectives.
Public benefit
When planning activities for the accounting period, the trustees have considered the Charity Commission's guidance on public benefit. The charity is seeking to alleviate poverty in the local area, as the charity grows.
Volunteers
The charity's day to day operations are reliant on the support of unpaid volunteers, who provide help to the trustees and to individuals being assisted by the charity. The varied nature of this support given make it impossible to quantify the time spent or number of people involved. In addition the charity's trustees all serve on a voluntary basis.
Page 1
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the accounting period the charity made purchases amounting to £1,905 and donations from stock/new recycled amounting to approximately £3,000 to support the charity's objectives. The latter amount is not shown in the accounts as a distribution from stock and in addition, a significant amount of new items were purchased by volunteers.
Sunshine Baby Bank (SBB) was formed as part of the emergency charity response protocols during COVID. The initial objectives and delivery plan was aimed at providing an innovative online / contact free baby bank service during a period when most baby banks, charities, shops had closed their doors / operations as a result of the public health controls. Setting-up SBB and the delivery service was successfully achieved in very short timescales; from identifying the emerging need in late March 2020, to the concept / prototype stage in April to the launch of the service in June 2020.
Since then, SBB has focused on the supply of new essential equipment and items for children living in poverty in the City of Southend. SBB have found that the demand for recycled items is being met by other charities / baby bank providers and this has given the trustees the opportunity to diversify into the related objectives of the charity. As originally planned, it has focused activities into the enabling role to facilitate support to disadvantaged communities, families and children living in poverty and those with educational needs.
In April 2021, SBB entered into a peppercorn lease of Labyrinth House, 258 Westborough Road, Westcliff-on-Sea initially for 12 months and now extended to March 2024. This former GP surgery is now converted into a family wellbeing hub and centre focusing on relief of child poverty, education and therapeutic services. It is also a serviced seed bed centre for like-minded charities and public sector organisations that can take out short term leases, daytime, evening and weekend hire to deliver their services.
The property is owned, predominantly by two trustees and the granting of a lease at a discount amounts to a donation by the owners recognised at £30,000 in the accounts.
After extensive refurbishment, funded by the owners, the property was ready for occupation in September 2022 by Sunshine Baby Bank and the first tenant, Send the Right Message, a new registered charity specialising in special educational needs and disability support. The revenue from the serviced leases and hire facilities will be used to further the charity's objectives and fund the staffing and operating costs of the charity and Labyrinth House.
In July and September 2022, SBB employed a part-time Baby Bank Support worker and a full-time Operations Manager respectfully, to manage the increased workload at Labyrinth House and to support the volunteers / trustees.
Page 2
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
ACHIEVEMENT AND PERFORMANCE
Organisations and key workers accessing the Charity
Using the Referrals portal on the Charity's website www.sunshinebabybank.org.uk referrals only come from organisations with robust standards of safeguarding children and vulnerable people e.g. public, third sector, other providers and their key workers interfacing with families, babies, young children experiencing poverty and COVID-19 needs.
The following organisations and respective key workers used the charity's services is shown as a percentage of referrals. The figures in the final column shows the numbers for the comparative period.
Organisations
| Organisations | ||
|---|---|---|
| 2022 | 2021 | |
| Southend-On-Sea Borough Council - Children Services | 34% | 40% |
| Southend-On-Sea Borough Council - Public Health | 11% | 24% |
| Southend-On-Sea Borough Council - Education and Early Years | 23% | 9% |
| Southend NHS Trust | 6% | 7% |
| Voluntary Sector Southend | 14% | 7% |
| Voluntary Sector national / regional / county | 6% | 4% |
| Provider - public health and well being | 3% | 2% |
| Provider - housing | 3% | 7% |
| Key workers roles | ||
| 2022 | 2021 | |
| Midwife | 3% | 2% |
| Health visitor | 9% | 40% |
| Specialist health | 0% | 2% |
| Social worker | 6% | 16% |
| Children / parent support worker | 11% | 11% |
| Family / support / engagement | 51% | 7% |
| Early years education | 3% | 4% |
| Special Eduction Needs and Disability (SEND) | 9% | 2% |
| Housing / accommodation support | 0% | 9% |
| Family nurse | 0% | 2% |
| Victims slave support | 6% | 2% |
| Migrant caseworker | 3% | 0% |
| Citizens Advice worker | 0% | 2% |
| Beneficiaries - analysis of referrals | ||
| The age, gender and residential locations of referral analysis: | ||
| Location / wards |
| Location / wards | ||
|---|---|---|
| 2022 | 2021 | |
| Blenheim | 0% | 2% |
| Chalkwell | 0% | 2% |
| Eastwood | 0% | 6% |
| Kursaal | 6% | 17% |
| Leigh | 9% | 2% |
| Milton | 23% | 25% |
| Prittlewell | 9% | 4% |
| Shoeburyness | 11% | 4% |
| Southchurch | 11% | 4% |
| St Luke's | 3% | 2% |
| Victoria | 11% | 13% |
| Westborough | 6% | 13% |
| Other | 7% | 6% |
Age range of children
Page 3
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
ACHIEVEMENT AND PERFORMANCE
| ACHIEVEMENT AND PERFORMANCE | ||
|---|---|---|
| 2022 | 2021 | |
| Pre-Natal (3rd trimester) | 11% | 9% |
| 0 to 3 months | 11% | 19% |
| 3 to 6 months | 11% | 4% |
| 6 to 9 months | 3% | 11% |
| 9 to 12 months | 9% | 11% |
| 12 to 18 months | 11% | 13% |
| 8 months to 24 months | 6% | 9% |
| 2 to 3 years old | 14% | 9% |
| 3 to 4 years old | 23% | 13% |
| 4 to 5 years old | 3% | 4% |
| Gender | ||
| 2022 | 2021 | |
| Male | 51% | 36% |
| Female | 49% | 56% |
| Not known | 0% | 8% |
Reasons for the referral and addressing needs
Referral agencies and the respective key workers recorded the following needs / reasons for the referral. Nearly all referrals recorded low household income together with other multiple needs and reasons for the referral, listed below is the main reason for referral. For comparison purposes the figures for 2020 / 21 are in the first column:
Needs / reason for referral
| Needs / reason for referral | ||
|---|---|---|
| 2022 | 2021 | |
| Lockdown assistance | 3% | 4% |
| Self-isolating / shielding | 3% | 2% |
| Low household income | 63% | 33% |
| Welfare benefit delay | 0% | 4% |
| Unable to access public funds | 6% | 1% |
| Unemployment | 3% | 9% |
| Homeless / temporary accommodation | 6% | 5% |
| Domestic / sexual abuse | 0% | 8% |
| Learning / physical disability | 0% | 3% |
| Mental health / emotional wellbeing | 0% | 9% |
| Single parent | 3% | 13% |
| Young / new parent | 0% | 7% |
| Refugee / asylum seeker | 14% | 3% |
Page 4
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
ACHIEVEMENT AND PERFORMANCE
Equipment and items supplied
Some 1,200 items were supplied in the year compared with 1,800 the year before. Nearly all items were fulfilled from new purchases using the charity's funds, stocks and new purchases from volunteers. Items and equipment are selected online from the Referrals portal and sourced, packaged by volunteers and collected by the key worker from a single location at Labyrinth House.
Data is shown for the supply across 9 categories together with the equipment and items supplied in each category. In some categories there are multiple items e.g. 'Summer Bundles' and in others only single items e.g. 'Things on wheels and on the move'. Requisition requests and supply are averaging 4 categories per referral. The headline percentage shown for each category is an indication of the proportion of category supplied across all referrals. For each category there is a further breakdown of the percentage of items supplied. This is helpful information to understand and plan needs to adapt delivery to changing demands e.g. cost of living crisis, post-lockdown health demands etc. For comparison purposes, refer to the 2020 / 2021 Report of the Trustees for the period 11 May 2020 to 31 May 2021.
91% Summer Bundles
3% Expectant Mums; 25% Essentials for baby care; 30% Baby and children clothes; 23% Health and wellbeing; 20% Education and learning
63% Things on wheels and on the move
14% Prams / carry cot; 62% Pushchair / buggy; 0% Baby walker; 10% Sling; 14% Car seat (new); 0% other.
69% Sleeping and things for my bedroom
3% Crib; 6% Moses basket; 0% Snuz; 13% Cot; 13% Cot bed; 6% Travel cot; 58% Sheets, blankets, bedding bundle (all items are supplied with new mattresses, bedding etc); 1% other.
60% Equipment and furniture
31% Baby bath; 0% Baby bouncer; 25% Stairgate; 44% Highchair; 0% other
77% Things for playtime, activity and learning
11% Baby snug and activity tray; 21% Playmat and activity play; 68% Toy / book bundles; 0% other.
40% Feeding and equipment
37% Formula; 0% Baby food (up to 12 months); 12% Sterilisers; 12% Bottle Bundles; 37% Feeding pillows; 0% Weaning kits ; 2% other, any feeding and food request for children over 12 months are directed to their nearest foodbank.
69% Toiletries
25% Nappies; 28% Wipes; 28% Baby toiletry sets - baby cream, shampoo, body wash, cotton wool etc; 9% Changing mat; 9% Changing bag; 1% other.
91% Clothing
8% Pre-Natal / newborn / one month; 13% 0 to 3 months; 5% 3 to 6 months; 3% 6 to 9 months; 3% 9 to 12 months; 5% 12 to 18 months; 13% 18 months to 24 months; 13% 2 to 3 years old; 16% 3 to 4 years old; 5% 4 to 5 years old; 11% Shoes; 5% other (old age groups).
43% For parents
52% Mum toiletry sets - sanitary towels, shampoo, shower gel etc; 35% Body care sets - body cream, hand cream, tissues; 13% Breast pads; 0% Nursing bra; 0% other.
Reviewing the above data, the trustees are satisfied that the service has delivered on assisting with the relief of child poverty so that young children living in poverty grow up with the essential items of daily life; advancing the health and wellbeing of women and children; help and support during COVID-19. It has helped:
(1) to reduce financial pressure and hardship;
-
(2) improve educational and healthy development; and
-
(3) is starting the journey to improve mental health and wellbeing amongst families and children.
Page 5
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
ACHIEVEMENT AND PERFORMANCE
By providing free essential equipment and items, the service has helped in changing lives for parents and the early life chances and opportunities for babies and early years children.
The charity has worked in partnership with local government, the NHS, the voluntary sector, private sector and local communities. The trustees extend their thanks to the enthusiasm and dedication that key workers continuously put in for their families and children caseloads.
Once again, the trustees extend thanks and appreciation to the volunteers, businesses, Barclays Bank, the Charity Commission and our legal and financial agents for their rapid response in getting services up and running inside two months. Our thanks, in particular, go to the late Sir David Amess M.P. for his support in launching the service and the inspiration to continue the charity's work in his memory.
Fund-raising standards
Although the charity welcomes funds from the general public, all monetary donations received to date were from related parties.
FINANCIAL REVIEW
Reserves position
The trustees have reviewed the level of reserves required to be held in cash. The trustees have also considered the risk of exposure to any significant loss of income or unforeseen costs. The level of donations is expected to continue in the future.
The financial ability of the charity to continue to fulfill its objectives has been considered by the trustees. The trustees have concluded that the reserves of £52,596 at 31 May 2022 (£42,890 at 31 May 2021) are sufficient to meet immediate need as demonstrated in the second year of activity; and at the time of this report the charity being in its third year of operations.
Page 6
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
FUTURE PLANS
The trustees intend to continue to support the beneficiaries and service provided and expects to widen the age range covered. The charity will continue with the peppercorn lease arrangements for Labyrinth House, 258 Westborough Road until 31 March 2024. Over time, the delivery model may change to support the changing energy and cost of living crisis and any new or COVID resurgent, public health controls and behaviours. We will also explore more direct and proactive approaches to engaging with key workers to increase referrals.
Evidence from the referrals demonstrates that family wellbeing, education needs and child poverty are the underpinning needs across agencies and key workers. There is an increasing number of referrals citing low income as the main reason for referral. This is a consequence of the rapid increase in the rate of inflation, currently in excess of 10% but much higher rates of inflation apply to essentials such a bread, milk, energy etc. These make-up a higher proportion of family budgets for low income families and in turn increasing the number of children living in relative and absolute poverty. The charity will continue to assist those on benefits, working families and children facing these challenges as too often subsistence living results in children going without essential equipment and items.
In addition to the main reasons for referral, as a secondary reason there is an increase in the need for mental health, wellbeing and education support to the youngest especially across the first 1,001 days and into early years education. Labyrinth House as a family wellbeing, education and therapeutic hub is embedded in the awareness of developmental and complex trauma, with a focus on the early years and whole-family mental health. The founders are a Child, Community and Educational Psychologist and social entrepreneurs that have invested in developing these facilities for the benefit of the City of Southend community.
SBB and Labyrinth House aims to be 'one door' for families seeking support with their emotional wellbeing, including with infants, children and young people from conception through to age twenty-five. A focus on families supporting children with special educational needs and disabilities; on children and young people who have experienced developmental trauma; and on children and young people on the edge of care, in care and / or care experienced will also be paramount.
SBB / Labyrinth House over the next 12 months and beyond aims to offer: workshops; courses; mental health focused social and cultural events; drop-ins; family, group and one-to-one therapeutic sessions; parent groups; specialist therapeutic yoga and printed materials on a range of topics related to emotional health and wellbeing.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The organisation is constituted as a company limited by guarantee, as defined by the Companies Act 2006, and is therefore governed by its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission.
Recruitment and appointment of new trustees
The Board of Trustees is authorised to appoint new trustees to fill vacancies arising. Four of the current trustees were appointed upon incorporation of the charity and two additional independent trustees were appointed in November 2022 providing the charity with additional skills and complementary expertise.
Organisational structure
The size of the charity means that both day to day issues and key decisions can be dealt with by the Board of Trustees. The Board meets regularly to decide the strategic direction the charity should take and set the financial targets going forward.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
12593856 (England and Wales)
Registered Charity number
1189533
Page 7
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
Registered office Goldwyns Limited 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
Trustees
P A Cooper Dr N M Schnackenberg Ms L M Cooper Mrs P Cooper R Ford (appointed 21/11/2022) Dr S L Sivers (appointed 21/11/2022)
Company Secretary Birketts Secretaries Limited
Independent Examiner
S T Blundell FCA ICAEW Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
Approved by order of the board of trustees on 22 December 2022 and signed on its behalf by:
P A Cooper - Trustee
Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUNSHINE BABY BANK
Independent examiner's report to the trustees of Sunshine Baby Bank ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 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.
S T Blundell FCA ICAEW Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
23 December 2022
Page 9
SUNSHINE BABY BANK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022
| PERIOD | |||
|---|---|---|---|
| 11.5.20 | |||
| YEAR ENDED | TO | ||
| 31.5.22 | 31.5.21 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 44,818 | 64,099 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Main activities | 31,905 | 18,160 | |
| Other | 3,207 | 3,049 | |
| Total | 35,112 | 21,209 | |
| NET INCOME | 9,706 | 42,890 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 42,890 | - | |
| TOTAL FUNDS CARRIED FORWARD | 52,596 | 42,890 |
The notes form part of these financial statements
Page 10
SUNSHINE BABY BANK (REGISTERED NUMBER: 12593856)
BALANCE SHEET 31 MAY 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 1,003 Cash at bank 53,393 54,396 CREDITORS Amounts falling due within one year 7 (1,800) NET CURRENT ASSETS 52,596 TOTAL ASSETS LESS CURRENT LIABILITIES 52,596 NET ASSETS 52,596 FUNDS 9 Unrestricted funds 52,596 TOTAL FUNDS 52,596 |
2021 Total funds £ 761 43,929 44,690 (1,800) 42,890 42,890 42,890 42,890 42,890 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 December 2022 and were signed on its behalf by:
P A Cooper - Trustee
The notes form part of these financial statements
Page 11
SUNSHINE BABY BANK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 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.
The charity is limited by guarantee and was incorporated in the UK.
The charity's place of business differs from the registered office, and is at Labyrinth House, 258 Westborough Road, Westcliff-on-Sea.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 12
continued...
SUNSHINE BABY BANK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
2. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| PERIOD | ||
| 11.5.20 | ||
| YEAR ENDED | TO | |
| 31.5.22 | 31.5.21 | |
| £ | £ | |
| Main activities | - | 9,000 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| PERIOD | ||
|---|---|---|
| 11.5.20 | ||
| YEAR ENDED | TO | |
| 31.5.22 | 31.5.21 | |
| £ | £ | |
| Other operating leases | 30,000 | 5,000 |
| Examiners' fees - independent examination | 1,800 | 1,800 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the period ended 31 May 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the period ended 31 May 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 64,099 |
| EXPENDITURE ON | |
| Charitable activities | |
| Main activities | 18,160 |
| Other | 3,049 |
| Total | 21,209 |
| NET INCOME | 42,890 |
| TOTAL FUNDS CARRIED FORWARD | 42,890 |
Page 13
continued...
SUNSHINE BABY BANK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Prepayments 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses |
2022 £ 1,003 2022 £ 1,800 |
2021 £ 761 |
|---|---|---|
| 2021 £ 1,800 |
8. LEASING AGREEMENTS
In April 2021 the charity entered into a peppercorn lease, for offices and storage, at 258 Westborough Road, Westcliff-on-Sea, SS0 9PT which has since been extended to 31 March 2024.
It is estimated the true market value of this lease is £30,000 to £36,000 per annum. The granting of the lease at a discount therefore amounts to a donation by the owners (predominantly trustees of the charity) and hence has been recognised as donated facilities accordingly.
9. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.6.21 | in funds | 31.5.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 42,890 | 9,706 | 52,596 | |
| TOTAL FUNDS | 42,890 | 9,706 | 52,596 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 44,818 | (35,112) | 9,706 | |
| TOTAL FUNDS | 44,818 | (35,112) | 9,706 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| in funds | 31.5.21 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 42,890 | 42,890 | ||
| TOTAL FUNDS | 42,890 | 42,890 |
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continued...
SUNSHINE BABY BANK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 64,099 | (21,209) | 42,890 |
| TOTAL FUNDS | 64,099 | (21,209) | 42,890 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2022.
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