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2021-12-31-accounts

Registered number: 02808912 Charity number: 1036149

The People's Kitchen Limited

Annual report

31 December 2021

The People's Kitchen Limited

Contents

Page
Reference and administrative details 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 20

The People's Kitchen Limited

Reference and administrative details Year ended 31 December 2021

Trustees

Mrs J Boardman Ms J Harrison Mr M I Spriggs Mr K Armstrong (appointed 3 February 2021) Ms M M Deans (appointed 3 February 2021) Ms M Pavlou (appointed 3 February 2021) Mr R S Vigurs (appointed 3 February 2021)

Company registered number

02808912

Charity registered number

1036149

Registered office

The Alison Centre 56 Bath Lane Newcastle upon Tyne NE4 5SQ

Company secretary

Mr M I Spriggs

Treasurer

Mr D Hitchmough

Accountants

UNW LLP Chartered Accountants Citygate St James' Boulevard Newcastle upon Tyne NE1 4JE

Bankers

Barclays Bank plc 49-51 Northumberland Street Newcastle upon Tyne NE1 7AF

Page 1

The People's Kitchen Limited

Trustees' report Year ended 31 December 2021

The trustees present their annual report together with the financial statements of the charity for the 1 January 2021 to 31 December 2021. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

Policies and objectives

The charity's objectives and principal activities continue to provide friendship, food and clothing to the many homeless and deprived people (referred to as 'friends') in the environs of Newcastle upon Tyne.

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Strategies for achieving objectives

We have thirty years’ experience of providing food and friendship to homeless and vulnerable people aged 18 and over. We serve food from our base the Alison Centre. We do not means test and have a truly open-door admittance policy for all with one caveat that all our friends adhere to our code of acceptable behaviour. We provide a vital lifeline for people who, for whatever reason, find themselves in need of our support. We receive no central government or local authority funding and rely entirely on the goodwill of business and the community to fund our essential services.

Our strategy can be summarised as:

All our work is supported by the loyal regional community which includes members of the public, donors, charitable foundations and trusts, local companies, churches, schools and community organisations. The charity plays a valuable and unique role in the city’s efforts to meet the needs of homeless and vulnerable people. The nature of its service offer, open door policy and opening hours complement other services in the city, while the quality of the service provision and the organisation’s ability to attract and work with people who often struggle to engage with mainstream services are significant achievements.

Page 2

The People's Kitchen Limited

Trustees' report (continued) Year ended 31 December 2021

Objectives and activities (continued)

The People’s Kitchen not only supports Friends to meet their basic needs, it also provides them with a sense of stability in their lives and a foundation from which they can begin to address their more complex needs. The support provided by both volunteers and professional agencies is impacting on a wide range of needs and policy/service sectors.

Volunteers

The charity is run entirely by volunteers.

Review of activities

Thanks again to our donors and extraordinary volunteers, the Charity has had another very good year

At the start of the year, we were still in lockdown mode, providing takeaway meals every day and welfare support mainly by telephone. As restrictions gradually lifted, we returned to normal service with daily food service inside (brunch on Saturday and Sunday, otherwise evenings) with a takeaway option. This has proved extremely popular. Demand has grown considerably with over 200 meals being provided daily, sometimes up to 300.

This has required a considerable increase in resources, both food and volunteers. Food donations held up well and with our strong finances we have been able to buy in more food. A major recruitment exercise to get more volunteers has been very successful and we now have 290 volunteers, an increase of about 30%

By the end of the year, we were able to start planning the re-introduction of events and we ran a full Christmas schedule including a street party outside the Alison Centre attended by local dignitaries and famous Newcastle United footballer and the traditional table- serviced Christmas lunch together with take-away presents.

Next year, we aim to increase the events programme, bring in more external services into the Kitchen to improve accessibility for our Friends, continue close co-operation and co-ordination with the City Council and other charities and implement trauma-informed approaches to all aspects of our support and welfare.

All these initiatives will be supported by our re-invigorated mission and values statements which have been developed with and rolled out to our volunteers.

Financial review

Financial review

Our income was £556,624 with total expenditure of £436,036. Our unpaid volunteer’s payroll equivalent would be approximately £0.4m. Included within income and expenditure are gifts in kind of food and clothing estimated at £50,000 The trustees are satisfied with both the performance in year and the year end position.

Page 3

The People's Kitchen Limited

Trustees' report (continued) Year ended 31 December 2021

Going concern

As noted above, the charity has performed well during the Covid-19 pandemic and has adapted its operations in order to continue with its services. It is anticipated that the voluntary income on which the charity relies may be significantly reduced over the coming months, and the costs of providing some aspects of the service may rise in order to continue to comply with emerging guidance. However, as the charity has a low fixed cost base and a reasonable level of free reserves, the trustees have a reasonable expectation that the charity has adequate resources, held as cash, to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

The Covid-19 pandemic has shown that a prudent reserve policy is vital to the long-term security and continuation of a charity. More so given the current cost of living increase, particularly in terms of food and energy cost rises. The People’s Kitchen has supported and assisted the less fortunate in our community for over 30 years and we aim to maintain and strengthen our support in the region.

Therefore, the trustees consider that due to its reliance upon voluntary donations the charity should aim to retain the equivalent of an average two years running costs totalling approximately £950,000 as a cushion against the future long-term impact of the pandemic on the charity. As of 31 December 2021, the unrestricted free reserves (not including fixed assets) amounted to £1,257,638, of which £200,000 has been designated towards future capital expenditure to ensure the Kitchen can be adequately maintained and a further £20,000 designated towards welfare support.

Despite the performance in the year, the trustees are mindful of an increasingly challenging fundraising environment, whilst demand for support and assistance is growing at an ever-increasing rate. Whilst the charity needs to explore new and alternative funding streams, we are satisfied that the year end position allows the charity to continue to work to develop new ways of working through the pandemic and beyond.

Plans for the future

As demand for our services, and in particular the provision of meals, has increased substantially over the period of the Covid-19 pandemic, the main priority for the charity is to scale up to meet that demand, including recruiting more volunteers and increasing their training.

In addition, we aim to:

Structure, governance and management

Constitution

The People's Kitchen Limited is constituted as a company limited by guarantee and is a registered charity number 1036149. The charity is controlled by its governing document, its memorandum and articles of association. Each member is liable to contribute £1 on winding up.

Page 4

The People's Kitchen Limited

Trustees' report (continued) Year ended 31 December 2021

Structure, governance and management (continued)

Methods of appointment or election of trustees

The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. The charity aims to maintain its functions by recruiting appropriate individuals who have the necessary skills and local knowledge. The recruitment of trustees is a matter for the board, and when vacancies arise in either numbers or skill coverage one of the trustees will approach suitable candidates from their contacts, based on the requirement to have a knowledge of the region, an understanding of and empathy with the charitable sector, coupled with a general recognition of the local needs to help promote the charity's aims. None of the trustees are entitled to, nor receive, any remuneration for their services to the charity during the period.

Policies adopted for the induction and training of trustees

The trustees are familiar with the work of the charity, and new trustees are encouraged to attend at the charity's registered office where they are briefed on the aims, objectives and other operational matters, in addition to their roles and responsibilities.

Organisational structure and decision making

The new board of trustees have been engaged in redefining the strategy for taking the charity forward. This has involved the establishment of a new management structure with each of the four new trustees assuming responsibility for defined areas and recruiting appropriate teams. The trustees’ powers are closely aligned with Charity Commission recommendations.

Risk management

The trustees are satisfied that appropriate protection systems and checks remain in place in order to mitigate exposure to major risks.

The charity volunteers are dealing with vulnerable adults and consequently we have stepped up our training to equip volunteers and team leaders in areas such as safeguarding and to include de-escalation training and mental wellbeing. All newly recruited volunteers also undertake a six week induction. All volunteers have to have a mandatory DBS check.

The charity's training manager arranges training sessions from outsourced industry specialists in the fields of food hygiene, safeguarding and first aid. The health & safety manager continues to review our risk register, policies and procedures; these include making clear the procedures to be adopted in risk assessment, supervision and inspection, consulting and encouraging and ensuring competence.

The trustees have identified the following additional areas which present risk at differing levels:

In the current Coronavirus pandemic, we have had to fundamentally review our operating and safety procedures in the light of social distancing and other rules and guidance from the City Council. Our Health and Safety manager has guided us and updated our risk register.

We are also reviewing our PR and fund-raising to address the very different funding environment we are now working in.

Page 5

The People's Kitchen Limited

Trustees' report (continued) Year ended 31 December 2021

Structure, governance and management (continued)

Trustees' indemnities

The company has made qualifying third party indemnity provisions for the benefit of its trustees, which remain in force at the date of this report.

Statement of trustees' responsibilities

The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial . Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of trustees on 13 July 2022 and signed on their behalf by:

Mr M I Spriggs Trustee

Page 6

Independent examiner's report Year ended 31 December 2021

Independent examiner's report to the trustees of The People's Kitchen Limited ('the charity')

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity (and 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 charity 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 the charity's accounts 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 the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, 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:

  1. accounting records were not kept in respect of the charity 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.

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my work or for this report.

Signed: Dated: 13 July 2022 Anne Hallowell BSc FCA DChA UNW LLP Newcastle upon Tyne

Page 7

The People's Kitchen Limited

Statement of financial activities (incorporating income and expenditure account) Year ended 31 December 2021

Note
Income from:
Donations
2
Investment income
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
551,383
5,241
556,624
436,036
436,036
120,588
1,574,787
1,695,375		 Total
funds
2021
£
551,383
5,241
556,624
436,036
436,036
120,588
1,574,787
1,695,375		 Total
funds
2020
£
660,265
7,215
667,480
375,740
375,740
291,740
1,283,047
1,574,787

All funds in both years are unrestricted.

The notes on pages 11 to 20 form part of these financial statements.

Page 8

The People's Kitchen Limited

Balance sheet At 31 December 2021

Note
Fixed assets
Intangible assets
5
Tangible assets
6
Current assets
Debtors
7
Current asset investments
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total net assets
Charity funds
Total funds
10
Total funds		 46,984
920,308
296,224
1,263,516
(5,878)		 2021
£
10,750
426,987
437,737
1,257,638
1,695,375
1,695,375
1,695,375		 60,669
667,252
392,534
1,120,455
(9,425)		 2020
£
-
463,757
463,757
1,111,030
1,574,787
1,574,787
1,574,787

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

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

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees on 13 July 2022 and signed on their behalf by:

Mr M I Spriggs (Trustee)

The notes on pages 11 to 20 form part of these financial statements.

Page 9

The People's Kitchen Limited

Statement of cash flows Year ended 31 December 2021

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 11 to 20 form part of these financial statements		 2021
£
156,746
-
-
156,746
1,059,786
1,216,532		 2020
£
323,903
-
-
323,903
735,883
1,059,786

Page 10

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The People's Kitchen Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Company status

The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.2 Going concern

The financial statements have been prepared on a going concern basis.

Given the matters outlined in the Trustees' report, particularly those in relation to Covid-19, the trustees have considered the additional risks presented and all factors they believe might reasonably impact upon the future outlook of the charity. Whilst future income streams are uncertain, the charity has a relatively low fixed cost base and adequate resources, held as cash, to allow it to continue in operational existence for the foreseeable future. As a result, the trustees consider that the going concern basis remains appropriate for the preparation of these financial statements.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 11

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity, including those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements.

All resources expended are inclusive of irrecoverable VAT.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

1.5 Intangible assets and amortisation

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all intangible assets, on a straight line basis so as to write off the cost of an asset over its estimated useful life as follows:

Website - 25 %

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all intangible assets so as to write off the cost of an asset over its estimated useful life as follows:

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property - 2% on cost - Property improvements 15% on reducing balance - Plant and machinery 15% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 33% on cost

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Page 12

Notes to the financial statements Year ended 31 December 2021

The People's Kitchen Limited

1. Accounting policies (continued)

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Current asset investments

Current asset investments are cash equivalents on deposit with a maturity of more than three months from the date of the opening of the deposit or similar account.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.13 Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Gifts in kind donated for distribution are included in the statement of financial activities at a reasonable estimate of their value at the time they are utilised by the charity.

In preparing these financial statements the trustees do not consider there were any other estimates or significant areas of judgment that were required in applying the charity's accounting policies as set out above.

Page 13

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

2. Income from donations and legacies

General voluntary donations - cash
General voluntary donations - goods
Total donations
Total 2020
Investment income
Bank and current asset interest receivable
Total 2020
Analysis of expenditure by activities
Charitable activities
Total 2020		 Unrestricted
funds
2021
£
501,383
50,000
551,383
660,265
Unrestricted
funds
2021
£
5,241
7,215
Activities
undertaken
directly
2021
Support
costs
2021
£
£
432,856
3,180
372,560
3,180		 Total
funds
2021
£
501,383
50,000
551,383
660,265
Total
funds
2021
£
5,241
7,215
Total
funds
2021
£
436,036
375,740		 Total
funds
2020
£
600,265
60,000
660,265
Total
funds
2020
£
7,215
Total
funds
2020
£
375,740

3. Investment income

4. Analysis of expenditure by activities

Analysis of direct costs

Page 14

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

4. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Provision of food and clothing - purchased
Provision of food and clothing - donated
Depreciation and amortisation		 Total
funds
2021
£
343,936
50,000
38,920
432,856		 Total
funds
2020
£
270,073
60,000
42,487
372,560

Analysis of support costs

Total Total
funds funds
2021 2020
£ £
Independent examination fee 3,180 3,180

No trustees received any remuneration, benefits or reimbursement of expenses for their services to the charity during the year (2020: £nil). The charity has no employees.

Key management personnel

Key management personnel are deemed to be those having authority and responsibility for planning, directing and controlling the activities of the charity. During 2021 the key management personnel comprised the board of trustees. Consequently the total employee benefits of the key management personnel of the charity were £nil (2020: £nil).

Page 15

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

5. Intangible assets

Cost
Additions
At 31 December 2021
Amortisation
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Website
£
12,900
12,900
2,150
2,150
10,750
-

6. Tangible fixed assets

Cost
At 1 January 2021
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Property
improv'nts
£
538,957
538,957
414,401
18,683
433,084
105,873
124,556		 Freehold
property
£
426,017
426,017
138,163
8,520
146,683
279,334
287,854		 Plant and
machinery
£
154,088
154,088
121,387
4,905
126,292
27,796
32,701		 Motor
vehicles
£
76,043
76,043
57,397
4,662
62,059
13,984
18,646		 Computer
equipment
£
13,962
13,962
13,962
-
13,962
-
-		 Total
£
1,209,067
1,209,067
745,310
36,770
782,080
426,987
463,757

Page 16

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

7.
Debtors
Other debtors
Prepayments and accrued income
8.
Current asset investments
Cash equivalents on deposit
9.
Creditors: amounts falling due within one year
Accruals and deferred income		 2021
£
35,000
11,984
46,984
2021
£
920,308
2021
£
5,878		 2020
£
35,000
25,669
60,669
2020
£
667,252
2020
£
9,425

Page 17

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

10. Statement of funds Statement of funds - current year

Designated funds
Building improvement fund
Capital fund
Welfare fund
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at 1
January
2021
£
200,000
463,757
20,000
683,757
891,030
1,574,787		 Income
£
-
-
-
-
556,624
556,624		 Expenditure
£
-
(38,920)
-
(38,920)
(397,116)
(436,036)		 Balance at
31
December
2021
£
200,000
424,837
20,000
644,837
1,050,538
1,695,375

Page 18

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

10. Statement of funds (continued)

Statement of funds - prior year

Designated funds
Building improvement fund
Capital fund
Welfare fund
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at
1 January
2020
£
200,000
506,244
20,000
726,244
556,803
1,283,047		 Income
£
-
-
-
-
667,480
667,480		 Expenditure
£
-
(42,487)
-
(42,487)
(333,253)
(375,740)		 Balance at
31
December
2020
£
200,000
463,757
20,000
683,757
891,030
1,574,787

11. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 2021
£
120,588
36,770
2,150
785
(3,547)
156,746		 2020
£
291,740
42,487
-
(10,797)
473
323,903

Page 19

The People's Kitchen Limited

Notes to the financial statements Year ended 31 December 2021

12. Analysis of cash and cash equivalents

Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 2021
£
296,224
920,308
1,216,532		 2020
£
392,534
667,252
1,059,786

13. Analysis of Net Debt

Cash at bank and in hand
Liquid investments		 At 1
January
2021
£
392,534
667,252
1,059,786		 Cash flows
£
(96,310)
253,056
156,746		 At 31
December
2021
£
296,224
920,308
1,216,532

14. Related party transactions

There were no related party transactions in the current or prior periods.

Page 20