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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 2023

for

Beauty Banks
(A Company Limited by Guarantee)

Beauty Banks






Contents of the Financial Statements
for the Year Ended 28 February 2023




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

Beauty Banks (Registered number: 11819908)

Report of the Trustees
for the Year Ended 28 February 2023


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 2023. 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
This is our fourth accounting year. Beauty Banks charity continues to grow and expand its services and reach across the UK. Our income from financial donations grew in this accounting period, reflecting our expansion and a dedicated employee to nurture and grow our corporate partnerships, our primary sources of income.

The development manager appointed in January 2022 has continued to reduce costs per donation sent to partner charities, whilst vastly increasing our reach and impact across the UK.

By the end of this accounting period, Beauty Banks had reached close to 700 nationwide partnerships, with a presence in every county in England and rapidly growing partnerships in Scotland and Wales.

This expansion is not solely as a result of an increase in headcount at the charity; we appointed an operations manager in January of 2023, but also reflects the wider cost of living crisis affecting the UK.

2022 saw an increase of 80% in donations distributed and a 75% increase in partnerships added to our database. The average cost of our donations has been vastly reduced (£105 per donation, down from £320 during the pandemic) owing to better sourcing of surplus products from across the industry, and an increased voluntary workforce at our warehouse.

In February 2023, we opened our second warehouse location in Croydon, south-east London. We have also reduced warehouse space in Brighton whilst simultaneously increasing output leading to a net saving in the region of £500 per month.

As the demand for our donations continues to increase, so must our income to keep up with demand. The increase in income within the accounting year to £177,884 (2022: £88,683) and modest decrease in expenditure to £184,792 (2022: £198,516) is reassuring but this must continue to rise in line with an increased permanent employee roster and partnership presence in some of the most deprived areas of the UK.

Unrestricted reserves of the Charity are £116,320 (2022: £123,230).

In 2023 we are looking further afield for funding streams and will review eligibility for trusts and grants and project-specific awards. Our ultimate aim is to have our own centralised warehouse space to support the growth in demand which shows no signs of abating. Within the next two years, we aim for the charity's annual income from donations to consistently achieve £250-300k.

Campaigns
Our awareness campaigns continue to receive significant press coverage, for example our most recent campaign: The Tooth Hurts highlighted the worsening dental health crisis amongst children in the UK. The debate raised led a call to action from several of our partner brands including Colgate-Palmolive committing to sending dental hygiene packs and training resources to schools across in 2023 and donations to Beauty Banks for 200 schools across our database.

Financially, in line with wider third sector trends, we are not seeing the financial impact of past campaigns from public donations our dental campaign raised just over £10,000 but reflects both the current cost of living crisis and global conflicts affecting UK fundraising. Our dental campaign launched at the same time as the Turkey-Syria earthquake which undoubtedly affected our fundraising ability from it. In 2024, we are aiming to increase our awareness campaigns, likely to launch quarterly, and will involve corporate stakeholders and charity partners with vested interests in the chosen cause.

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.

Beauty Banks (Registered number: 11819908)

Report of the Trustees
for the Year Ended 28 February 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Volunteers
We have expanded our network of volunteers at the charity in 2023. Our operations manager joined Beauty Banks from a large and more established charity where she was volunteer manager and brings a host of expertise to grow and develop our existing team. We now offer training opportunities and a structured volunteer offer with tangible results, health and safety and safeguarding policies in place, and a quarterly volunteer forum where feedback can be given to inform and grow the charity's programme. Retention is high and we have long-standing volunteers who have now become paid casual workers supporting the charity on project-specific administration.

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.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11819908 (England and Wales)

Registered Charity number
1184944

Registered office
Musgrove
145 Gresham Road
Staines Upon Thames
London
TW18 2AG

Trustees
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)
Mr R L Fellowes (appointed 1.12.22)
Mr T A G Spiff (appointed 22.3.23)

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 24 November 2023 and signed on its behalf by:





Mrs J L Jones - Trustee

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 2023.

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:

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

24 November 2023

Beauty Banks

Statement of Financial Activities
for the Year Ended 28 February 2023

28.2.23 28.2.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 177,882 88,683

EXPENDITURE ON
Raising funds
Raising donations and legacies 2 98,217 71,230
Other trading activities 86,575 127,286
184,792 198,516

NET INCOME/(EXPENDITURE) (6,910 ) (109,833 )


RECONCILIATION OF FUNDS
Total funds brought forward 123,230 233,063

TOTAL FUNDS CARRIED FORWARD 116,320 123,230

Beauty Banks (Registered number: 11819908)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Stocks 5 500 500
Debtors 6 31,686 924
Cash at bank 93,157 145,448
125,343 146,872

CREDITORS
Amounts falling due within one year 7 (9,023 ) (23,642 )

NET CURRENT ASSETS 116,320 123,230

TOTAL ASSETS LESS CURRENT LIABILITIES 116,320 123,230

NET ASSETS 116,320 123,230
FUNDS 8
Unrestricted funds 116,320 123,230
TOTAL FUNDS 116,320 123,230

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 24 November 2023 and were signed on its behalf by:





Ms S Hughes - Trustee

Beauty Banks

Notes to the Financial Statements
for the Year Ended 28 February 2023

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 DONATIONS AND LEGACIES
28.2.23 28.2.22
£    £   
Support costs 98,217 71,230

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.


Trustees' expenses
28.2.23 28.2.22
£    £   
Trustees' expenses - 190


Beauty Banks

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 88,683

EXPENDITURE ON
Raising funds
Raising donations and legacies 71,230
Other trading activities 127,286
198,516

NET INCOME/(EXPENDITURE) (109,833 )


RECONCILIATION OF FUNDS
Total funds brought forward 233,063

TOTAL FUNDS CARRIED FORWARD 123,230

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 500 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Prepayments and accrued income 31,686 924

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 220 16,424
Social security and other taxes 5,782 1,085
Other creditors 321 3,583
Accrued expenses 2,700 2,550
9,023 23,642

8. MOVEMENT IN FUNDS
Net
movement At
At 1.3.22 in funds 28.2.23
£    £    £   
Unrestricted funds
General fund 123,230 (6,910 ) 116,320

TOTAL FUNDS 123,230 (6,910 ) 116,320

Beauty Banks

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 177,882 (184,792 ) (6,910 )

TOTAL FUNDS 177,882 (184,792 ) (6,910 )


Comparatives for movement in funds

Net
movement At
At 1.3.21 in funds 28.2.22
£    £    £   
Unrestricted funds
General fund 233,063 (109,833 ) 123,230

TOTAL FUNDS 233,063 (109,833 ) 123,230

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 88,683 (198,516 ) (109,833 )

TOTAL FUNDS 88,683 (198,516 ) (109,833 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.3.21 in funds 28.2.23
£    £    £   
Unrestricted funds
General fund 233,063 (116,743 ) 116,320

TOTAL FUNDS 233,063 (116,743 ) 116,320

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 266,565 (383,308 ) (116,743 )

TOTAL FUNDS 266,565 (383,308 ) (116,743 )

Beauty Banks

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 28 February 2023.