THE BABY BANK HQ CIC

Company limited by guarantee

Company Registration Number:
13136889 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 February 2023

End date: 31 July 2024

THE BABY BANK HQ CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE BABY BANK HQ CIC

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The company's principal activity continues to be that of provision of supprt for families in need of children's clothes, toiletries and basic necessities.



Directors

The director shown below has held office during the whole of the period from
1 February 2023 to 31 July 2024

Kelly Anne Rosevear


The director shown below has held office during the period of
1 February 2023 to 24 April 2023

Susan Brennan


The director shown below has held office during the period of
23 May 2023 to 31 July 2024

Clare Foster


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 January 2025

And signed on behalf of the board by:
Name: Clare Foster
Status: Director

THE BABY BANK HQ CIC

Profit And Loss Account

for the Period Ended 31 July 2024

18 months to 31 July 2024 2023


£

£
Turnover: 2,968 5,462
Cost of sales: ( 4,832 ) ( 4,753 )
Gross profit(or loss): (1,864) 709
Administrative expenses: ( 34,234 ) ( 44,816 )
Other operating income: 25,356 52,837
Operating profit(or loss): (10,742) 8,730
Profit(or loss) before tax: (10,742) 8,730
Tax: 451 ( 859 )
Profit(or loss) for the financial year: (10,291) 7,871

THE BABY BANK HQ CIC

Balance sheet

As at 31 July 2024

Notes 18 months to 31 July 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,529 4,871
Total fixed assets: 1,529 4,871
Current assets
Debtors: 4 540 610
Cash at bank and in hand: 71 9,148
Total current assets: 611 9,758
Creditors: amounts falling due within one year: 5 ( 3,517 ) ( 5,715 )
Net current assets (liabilities): (2,906) 4,043
Total assets less current liabilities: (1,377) 8,914
Total net assets (liabilities): (1,377) 8,914
Members' funds
Profit and loss account: (1,377) 8,914
Total members' funds: ( 1,377) 8,914

The notes form part of these financial statements

THE BABY BANK HQ CIC

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 January 2025
and signed on behalf of the board by:

Name: Clare Foster
Status: Director

The notes form part of these financial statements

THE BABY BANK HQ CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 3 years straightline Motor Vehicles 25% reducing balance Fixtures & Fittings 3 years straightline Computer Equipment 3 years straightline

    Other accounting policies

    Taxation Policy Income tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other Government Grant Policy Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

THE BABY BANK HQ CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    18 months to 31 July 2024 2023
    Average number of employees during the period 4 4

THE BABY BANK HQ CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 985 0 3,551 3,800 8,336
Additions 288 1,310 1,598
Disposals ( 3,800 ) ( 3,800 )
Revaluations
Transfers
At 31 July 2024 985 288 4,861 0 6,134
Depreciation
At 1 February 2023 588 0 1,214 1,663 3,465
Charge for year 363 80 2,360 267 3,070
On disposals ( 1,930 ) ( 1,930 )
Other adjustments
At 31 July 2024 951 80 3,574 0 4,605
Net book value
At 31 July 2024 34 208 1,287 0 1,529
At 31 January 2023 397 0 2,337 2,137 4,871

THE BABY BANK HQ CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

18 months to 31 July 2024 2023
£ £
Prepayments and accrued income 87 610
Other debtors 453
Total 540 610

THE BABY BANK HQ CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

18 months to 31 July 2024 2023
£ £
Taxation and social security 908
Accruals and deferred income 1,100 1,000
Other creditors 2,417 3,807
Total 3,517 5,715

The accruals include an invoice for payroll services and an invoice for accountancy services related to the preparation of the Community Interest Company accounts. These invoices all related to services provided in relation to the period ended 31 July 2024 that were unpaid as of this date.

COMMUNITY INTEREST ANNUAL REPORT

THE BABY BANK HQ CIC

Company Number: 13136889 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

We have saved the parents the worry of having to cloth their children, with access to our baby bank every 3 months. We were able to remove the worry of clothing costs. With our partnership with the trussell trust food bank, we were also able to lessen the burden of food costs by making the referrals for food parcels. Over the duration of the year, we successfully ran 4 free school uniform events. These events were open not only to the families we support, but to the wider community. These events have been by far our busiest with over 250 people attending each one. Throughout these free events, we saved over 185 black sacks of uniform from going to landfill.

Consultation with stakeholders

We have continued to work with the East London Waste Authority and carried out further repairing clothes and textile workshops. These events were a wonderful way to raise awareness of how you can repair your clothing and prevent waste. We made contacts with lots of local schools, who ran uniform collections onsite and then went on to donate them to us. We have worked closely with The Havering Volunteer Centre who have sent many volunteers our way. We have built a partnership with local businesses such as Tapestry care and Console Clinic who volunteered to be drop off points for our donations.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 January 2025

And signed on behalf of the board by:
Name: Clare Foster
Status: Director