Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 Registered number: 02808912 Charity number: 1036149 The People's Kitchen Limited Annual report Year ended 31 December 2023
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Contents Page Reference and administrative details Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Reference and administrative details Year ended 31 December 2023 Trustees Mrs J Boardman Ms J Harrison Mr M I Spriggs Mr K Armstrong Ms M Pavlou Ms S Devlin Mr K S Maloney Mr J Watson (reSned 31 October 2023) Mr P Glasgow (appoinled 31 October 2023> Company reg18tered number 02808912 Chartty reglstered number 1036149 Reglstered offlce The Alison Centre 56 Bath Lane Newcastle upon Tyne NE4 5SQ Company 8ecrelary Mr M I Spriggs Accountants UNW LLP Chartered Accountants Citygate Sl James, Boulevard Newcaslle upon Tyne NE14JE Bankers Bardays Bank plc 49-51 Northumbedand Street Newcaslle upon Tyne NE17AF Page 1
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Trustees. report Year ended 31 December 2023 The trustees present their annual report together with the financial statements of the charity for the 1 January 2023 10 31 December 2023. The annual report serves the purposes of both a trustees. reFM)rt and a directors, report under company law. The trustees confim that the annual report and financial ststements of the charitable company comply with the currenl Statut(xy requirements. the requ1MentS of the charilable companWs goveming document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Rethyting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the tharity qualifies as small under section 382 of the Companies Act 2006. the strategic report required of medium and large companies under the Companies Act 20[ (Slrategic Re[ and Direciors, Report) Regulalions 2013 has been omitted. Oblectlves and actlvltl • Pollcles and objecllvos The charivs objectNes and principal activities continue to be to provide friendship. ftr)d and clothing to homeless and vulnerable people (referred to as 'Friends') in Newcaslle upon Tyne and surrounding areas. In setting objectives and planning for acts"vities. the trustees have given due consKleration to general guidance published by the Charity Ciynmission relaling to public benefil. induding Ihe guidance 'Public benefit: running charity (PB2)'. • Strategles for ach5evlng objectlves We have 39 years, experience of providing food and friendship to homeless and vulnerable people. We serve food from our base. the Alison Cenlre. We do not means test and have a truly open-door admittance policy for all with one caveat Ihal all our Friends adhere to our code of acceptable behaviour. We provide a vitsl lifeline for people who. for whatever reas. find themselves in need of our support. We receive no central govemment or local aulhority funding and rely entirely on the goodwill of organis8tions arKJ the local community to fund our essenb'al services. Our strategy can be summ8ri5ed as: Earty support: providing a safety net at vulnerable times. Each year. up to 9J,000 hot meals are served and 20,000 items of clothing provided, including access lo sleeping bags, rucksacks, hot showers and toilelries, wilh 60,000 hours of support by over 3CM) dedicated volunleers. - Building friendship: over 1.01)O vulnerable FrierHJs benefit fr(xn events ganised each >par. Working together with professional partners arKI Signposti Friends towards essential accommodats'on and healthcare providers: Moving towards independent living: this includes our -make a House a Home" initiative and the opportunity to volunteer at the Alison Centre. Through this journey of engagement, we aim to promote confidence and self- esteem. All our work is supported by the loyal regional community whith includes members of the wblic. charitable foundations and trusts. local businesses. churches. schools and other community organisations. The charity plays a valuable and unique role in the city s efforts lo meet the needs of homeless and vulnerable people. The nature of its service offef. open door policy and opening hours complement other services in the city. vh)ilst the quality of the service provision and the organisation's ability to attract and vrk with people who often struggle to engage with mainslream services are SnIfICant achievements. The charity not only supports Friends to meet their basic needs. it also provides Ihem with a sense of stability in Page 2
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Trustees. report {continued) Year ended 31 December 2023 Oble¢tlv•s and a¢tlvltl•s (contlnuod> their lives and a foundation from which Ihey can t)egin kn address their MO complex needs. The support provided by both volunteers and professional agenc*s is impacting on a ¥Mde range of needs and policylservice sectors. • Volunteers The charity is wn entilY by volunteers. • Rovlew of actlvltles Thanks again io our donors and extratydinary volunteers. "Our Feed a Friend For a FNerf fundraising campaign was again generously supporled by the public. Demand has grovm considerably wth approximately 300 meals being provhjed daily. This has required a considerable increase in resources. trf)Ih focmj and volunteers. Food donations have reduced however due to our strong finances we have been able to buy in more food. We ran a full Christmas schedule including a street party outside the Alison Cenlre. a Christmas disco and the tradib.onal table- seryiced Christmas lunch together take-away presents. where we served over 160 meals. We continued our close c¢pera"0n and c(wrdination with the City Councl arKI other charits.es and now implemenl trauma-infonned approaches lo all aspects of our support and welfare. Services in the attend the charity during our fd service. this indudes Plummer Court drug and alcohol addictw services and Changing Lives We have also continued to develop supportive relationships with the local business community and now have comwehensive corporate volunteering programme in place. This year we put in place an employee assistance programme from Bupa which gives all our volunteers acce&8 to emotional and practical advice and support on a range of l¢)pics. • Flnanclal revlew Our income was £784k with total expenditure of £597k. Our unpaid volunteer's payToII equivalent would be approximately £0.6m. Induded within income and expenditure are gifts in kind of food and dothing estimated at £45k. The trustees are Satisf with both the perfrnanCe in >par and the ar-erKI position. • Golng concern As noted above, the charity has perfornied well and continues to adapt its operations in order to continue with its sepiices. It is anticipated that the voluntary income on which the charity relies may reduce, and the costs of Providing some aspects of the serwce have ren. However. as the charity has a low fixed cost base and reasonable level of free reserves, the trustees have a reasonable expectalion thal the charity has adequale 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 detsils regarding the adoption of the going concern basis can be found in the accounting policies. Page 3
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Trustees. report {continued) Year ended 31 December 2023 • R•urvos pollcy Recent years have shown that a prudent reser wlicy is vital to the lorlg-tenn security and continuation of the charity. This is require(I given the recent cost of living increase. parti¢ularty in temis of food and energy cost rises and the increased demand the chariws services. The charity has supported and assisted the vulnerable in our community fff over 39 sears and we aim to maintain and Sirengthen wr support in the regim. Therefore. the irustees consKJer that due to its reliance upon voluntary donations the charity should airn to retsin the equivalent of an average two years running costs totalling approximately £1.000.000 as a cushion against the future long-tem risk of a reduction in donations. As of 31 December 2023. the unrestricted free erVeS (not including fixed assets) amounted 10 £1,738.020. of vhlich £1.019.470 has been designated iowards future capiial expenditure and a significanl renovalion of the Alison Centre lo ensure the premises can be adequately maintained and capacity increased lo reflecl the increased demand. A smaller rect)nfiguration of the Alison Cenlre was considered but the trustees believe a larger renovalion is needed for the sustsinability of the charity over the longer term. Despiie the performance in the year. Ihe trustees are mindful of an increasingly challenging fundraising environment. wthilst demand for support and assistance is growing al an ever-increasing rate and the proposed renovation of the Alison Centre. Whilsl the charity needs lo explore new and alternative funding slreams. we are satisfied that the year end position allows the charity lo continue lo work and to develop new wayE of vrforking. • Plans for the future As demand for our seThices. and in particular the provision of rneals. has increased substants.ally over the last few years. the main priorities for the charity are: - UrKlertaking a substanlial rerK)Vat• of the Alis Centre to provide improved facilities and increased capacity: Develop Ihe skills of our volunteers through furiher training in 2024 induding the continuation of the reducing conflicl in the workplace. working in a trauma inf¢)rnied way and first aid inclLKling Naloxone administration; Conts'nue to Iwild on our relalionship with the City CnCil and other charilies IcA*ing after the needs of vulnerable people and those with complex needs: Investigate the commissioning of services that would help our Friends e.g. financial help support and sexual health services. Structure. governance and management • Constltutlon The People's Kitchen Limited is consts"tuted as a company limited by guarantee and is a registered charity number 1036149. The charity is conlrolled by its goveming document. its memorandum and articles of association. Each member is liable to contribute £1 on winding up. Page 4
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Trustees. report {continued) Year ended 31 December 2023 Stru¢tur•. govornan¢• and managom•nt (contInU) • Methtxls of appolntm•nt or 01O¢ilon of trusto0s The management of Ihe charity is the responsibility of the truslees who a appointed in accordance with the charity's articles of association. The charity aims lo maintain ils funcli<)ns by recruiting appropriale individuals vh)0 have Ihe necessary skills and Ictal knowledge. The recruilmenl of trustees is a matter for the board. and vh)en vacancies arise in either numbers or skill coverage. the trustees will recruit suitable ¢andidates based on the requirement to have a knowledge of the region. an understanding of and empathy with the charitable sector. coupled wilh a general reccxJnition of the local needs to help promote the charivs aims. None of the trustees are entitled lo, nor receive. any remuneralion for their serdices to the charity during the period. • Pollcles adoptod for the Inducllon and Iralnlng of trusts05 The trustees are familiar with the work of the charity. and new trustees undertake an induction programme where they are briefed on the aims. objects'ves and olher operats.onal matters of the charity. in addition to their roles and resFrf)nsibilities. • Organlsatlonal structure and declslon maklng The board of trustees on an annual basis review the Sirategy for iaking the charity forward. The trustees. powers are closely alwned with Charity Commission recommendats'ons. • Rlsk management The trustees are satisfied that appropriate prolecb.on systems and checks remain in place in order to mitigale exposure lo major risks. The charity volunleers are dealing with vulnerable adults and consequently we have slepped up our training to equip volunteers and team leaders in areas such as safeguarding and to include d escalation training and mental wellbeing. All nerfY recruited volunteers also undertake a six week induction. All volunteers have to have a mandatory D8S check. The charity arranges training sessions from oulsourced industry sperialists in the fields of food hsgiene. 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 assessmenl. supervision and inspectbon. consulb'ng and encouraging and ensuring competence. The Irustees have identified the followng additiorkql areas which present risk at differing levels: - Donor compassion fats"gue, lo be Milated thr¢xh the development of a marketing stralegy. - Specialist skills of our volunteer force. User demand level; the likelihood of this decreasing in the next three years is remote in the light of cuts in local authority seplices in the sector arKI the effects of the cost of living. We will continue lo review our PR and furKI- raising to address the very different fundirvJ environment we are now working in. • Trustoes. Indemnltles The company has made qualfying third paty indemnity provisions for the benefit of its Irustees. which remain in force at the date of this feport. Page S
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Trustees. report {continued) Year ended 31 December 2023 Stat•m•nt of tru$to•s' r•spon$lbllltlos The trustees (who are also the 1CtorS of the charity for the purposes of company law) are responsible for preparing Ihe trustees. report and Ihe financial statements in acwdance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepied Accounling Practice). Company law requires the trustees to prepa financial statements for each financial year. Under company law. the truslees 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 incorning resources and applicaii¢)n of resources. including its income and exwKliture. for that period. In preparin9 these financial staiements. the trustees are required 10: select suitable aC)Unting policies and then apply them consistèntly, observe the methods and principles of the Charities SORP (FRS 102): make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed. subject lo any material departures disclosed and explained in the financial statements: prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity wll contlnue In business. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy at any time the financral Fosits'on of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also respjnsible 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 tnernbers of the board of trustees on 26 September 2024 and swned on their behalf by. A(OC2SSA1QAi$4ES Mr K S Maloney Trustee Page 6
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 Independent examinerfs report Year ended 31 December 2023 Independent examlnerfs rei>ort lo the truslees of The People's Kltchen Llmlted (Ihe charlty? I rep)rt to the charlty trustees on my examination of the accounts of the charity for the year ended 31 December 2023. Responslbllltles and bas18 of report As the trustees of the charlty (and Sts directors for the purposes of company law) >fju are responsible for the preparation of the accounts in accordance with requirements of the Companies Act 2006 ('the 2LK)6 Act,). Having satisfied myself that the acccxjnts of the charity are not required to be audrted under Part 16 of the 2006 Act and are eligible for independent examination, I rep)rt in respect of my examination of the charlty's accounts carrled out under section 145 of the Charities Act 2011 ('the 2011 Act.). In carrying out my examination I have followed the Directs"ons given by the CharTty Commission under section 145{5)(b) of the 2011 Act. Independent examinerfs Statoment Since the charitsls oross income exceeded £250,000 your examiner must be a membef of a body listed Sn section 145 of the 2011 Act. I confim thal l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examlnation. I confinn that no matters have come to my att8ntlon In connectlon wlth the examination giving me cause to believe.. accounting records were not kept in respect of the chaiity as required by section 386 of the 2006 Act., or the accounts do rK)t acc(Yd wlth those rec(Kds: or the accounts do not comply with the acc(xJnts'ng requirements of seckn 396 of the 2006 Act other than any requirement that the aCCnts give a 'tru8 and fairf v18w 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 prlnciples of the Ststement of Recommended Practice for accounting and reporting by charrties lapplicable 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 examinallon lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo b8 reached. This report Is made solely to the charitys trustees, as a body, In accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so thal I might state to the charity's those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest exlent permitted by law. I do not accept or assume resFrf)nsibility to anne other than the charity and the chadtys trustees. as a body, for my or for this repo Signed". Dated: 26 September 2024 Bsc FCA DChA C487 Anne owe UNW LLP Newcastle upon Tyne Page 7
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Statement of financial activities (incorporating income and expenditure account) Year ended 31 December 2023 Unrnstrlcted funds 2023 Rostrlcted funds 2023 Total fund8 2023 Total funds 2022 Note Income from: Donalions 754,474 18.112 11.883 766,357 18.112 753.211 2.143 Investrnent income Totsl Income 772,586 784,469 755,354 Expenditure on: Charitable activities 595,096 1,883 596,979 496.729 Total expendlture 595,096 1.883 596,979 496.729 Net movement In funds 177.490 10.000 187,490 258,625 Re¢onclliation of funds: Total funds brought forward 1.954,000 1,954,000 1.695,375 Total funds carried forward 2.131.490 10,000 2,141,490 1.954,000 All furNYs in both years ar8 unrestricted. The notes on pages 11 to 21 form part of these financial statements. Page 8
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Balance sheet At 31 December 2023 2023 2022 Note Flxed assets Inlangible assets Tangible assets 4,300 399,170 7.525 394,921 403.470 402.446 Current assets Debtors 48,414 1,486,155 210,679 46,266 970,077 541,575 Current asset investments Cash al bank and in hand 1.745.248 1.557.918 Credilors: amounts falling due within one par (7,228) (6.364) Net current ass•ts 1,738.020 1,551,554 Total net a88et8 2,141,490 1.954,000 Charity funds Restricted funds Total unrestricted funds 10 10 10,000 2.131.490 1.954,000 Total funds 2,141,490 1,954,000 The charity was ents.tled to exemption from audit under sects(xi 477 of the Companies Act 2006. The members have not required the c(xnpany to obtain an audit for the year in qUesn in accordance with sects'on 476 of Companies Act 2006. The trustees acknowledge their responsibiliti'es for compl>ryng with the requirements of the Act with respo to accounting records and preparation of financial staiernents. The financial statements have been prepared in acccKdance with the provisions applicable io ents'ts'es subject to the small companies regime. The financial ststemenis were approved and aUtIlSe fly issue by the trusiees on 26 September 2024 and signed on their behalf by: A-.$51Au4Es AC455DIC Mr K S Maloney Trustee Ms M Pavlou Trustee Regislered number: 02808912 The notes on pages 11 to 21 form part of these firkgncial statements. Page 9
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Statement of cash flows Year ended 31 December 2023 2023 2022 Cash flows from operatlng actlvltles Net cash used in operating acb"vities 206,141 292.977 Cash flows from Investlng actlvltles Interest from investments Purchase of tangib16 fixed assets 18,112 (39,071) 2.143 Net cash (used In)Iprovlded by Investlng actlvltles (20,9591 2,143 Cash flows from flnanclng actlvltles Net cash proVId by financlng actlvltl•s Change In cash and cash equlvalents In the year 185,182 295,120 Cash and cash equivalents at the beginnirvJ of the ypar 1,511,652 1.216.532 Cash and cash •qulval•nts at the end of the y•ar 1.696,834 1,511,652 The notes on pages 11 to 21 form part of these financial ststements Page 10
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Accounting policies 1.1 Basls of preparatlon of financlal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities.. Siatement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in Ihe UK and Republic of IrelarKI IFRS 102) (effective 1 January 2019>. the Financial Reporting Standard applicable in Ihe UK and RepublK of Ireland (FRS 102) arKI the Companies Act 2006. The People's Kitchen Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilits.es are initially recc#Jnised at historical cosl or transaction value unless othewse ststed in the relevant accounting pdicy. Company slatus The charity is a company limited by guarantee. The members of the c¢ynpany are the trustees named on page 1. In the event of the charity being up. the liability in respect of the guarantee is limited to £1 per member of the charity. 1.2 Golng concern The financial stslements have been prepared on a going concem basis. As set out in the Trustees. report, the trustees have considered the current risks faced by Ihe charity and all factors they believe might reasonably impact upon the future outlook of the charity. Whilsl future income slreams are uncertain, the charity has a relatively low fixed cost base and adequate resources. held as cash, lo allow it to continue in operational existence for the foreseeable future. As a result, the trustees consider that the going concem 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. Grfts donated for resale are included as income when they are sold. Donated facilities are included at the value to Ihe charity where this can be quantified and a third party is bearing the cost. No amounts are induded in the financial statements for services donated by volunteers. Income tax recoverable in relalion to donations received under Gift Aid or deeds of covenant is recognised at the ts.me of the donaticm. Income tax recoverable in relation to inv8strnent income is recognised at the time the investment incorne is receivable. Page11
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Accounting policies (continued) 1.4 Expenditure Expenditure is recognised once there is a legal or construclive obligation to transfer economic benefrt to a third paty. it is probable that a transfer of economic benefrts will be required in settlement and the amount of the oblallOn 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 al1¢Xati 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 direcuy 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 irrecerable 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 Amortisation is provided on the followirKJ basis: Website 25 % straight line Intangible assets are stated at cost less accumulated amortisation and accumulated impaimient losses. Amortisation is provbded 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 assels and depreciation Tangible fixed assets are carried at cost, net of depreciation and any provision for impaimient. Depreciation is provKled at rates calculaled to write off Ihe cost of fixed assets. less their estimated residual value. over their expected useful lives on the followirvJ bases.. Freehold property Property improvements Plant and machinery Motor vehicles Computer equipment 2% straight line 15% on reducing balance 1 SQA on reducing balance 25QA on reducing balance 339A straight line 1.7 Interest rtteivable Interest on funds held on deposit is irlUded when receivable and the amount car) be measured reliably by the charity, this is nom)ally upon rlifiCatIon of tre interest paid or payable by the Bank. 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any Irade discount offered. PrepayThents are valued al the amcMJni prepaid net of any trade discounts due. Page 12
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Accounting policies (continued) 1.9 Current assel 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 indudes cash and short-term highly liquid investrnents with a short maturity of three months or less from the date of acquisilion (x opening of the deposit or similar account. 1.11 Liabilities and provisions Liabilities are reccgnised when there is an obligation at the balance sheet date as a result of a past event, it IS Pfobable 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 pasrynents for the goods or seThfjces it must provKIe. 1.12 Fund accounting General funds are unrestricted funds vthich 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. Restricted funds are funds are to be used in accordance with specific restrictions impjsed by donors Of which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set oul in the notes to the financial statements. Investment income, gains and losses are alk)cated to the appropriate fund. 1.13 Critical accounting estimates and areas of judgment Estimates and judgments are continualty evaluated and are based historical experierlce and other factors. including expeclations of future evenls that are believed to be reasonable under the circumstances. Gifts in kind donated for distribution are induded in the statemenl of financial activities at reasonable estimale of their value at the time they are utilised by the charity. In preparing these finanual statements the trustees do not consider there were any other estimates or significant areas of judgment that yre required in applying the chartys accounting policies as set t above. Page 13
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Income from donations and legacies Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 General voluntary donations - cash General voluntsry donations - gcy)ds 709,474 45,OCK) 11,883 721,357 45,000 720,787 32.424 Total donatlons 754.474 11.883 766,357 753.211 Totsl 2022 753,211 753,211 Investment income Unrestricted funds 2023 Total funds 2023 Totsl funds 2022 Bank and current asset interest receivable 18.112 18.112 2,143 Total 2022 2.143 2.143 Page 14
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Analysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Support provided to friends 593.559 3.420 596,979 496.729 Total 2022 493,309 3,420 496,729 Analysis of direct costs Total funds 2023 Total funds 2022 Provision of food arKI dothiThJ - purchased Provision of f(MJd and dothing - donated Depreciation and amortisation 510,512 45,000 38,047 425,594 32.424 35,291 593,559 493,309 Analysis of support Costs Total funds 2023 Total funds 2022 Independent examination fee 3,420 3,420 No trustees received any remuneration. benefits or reimbursement of expenses for their serrfices to the charity during the year (2022: £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 ihe charity. During 2023 the key managemenl personnel comprised the b)ard of trustees. Consequenuy the total employee benefits of the key management personnel of the charity were £nil (2022.. £nil). Page 15
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Intsngible assets Website Cost At 1 January 2023 12,900 At 31 December 2023 12,900 Amortlsatlon At 1 January 2023 Charge lor the yEar 5,375 3,225 At 31 December 2023 8,600 Net book value At 31 December 2023 4,300 At 31 December 2022 7,525 Page 16
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Tangible fixed assets Property improv'nts Freehold Plant and property machinery Motor Computer vehicles equipment Total Cost At 1 January 2023 Additions 538,957 426,017 154.088 76,043 39.071 13.962 1.209,067 39,071 At 31 December 2022 538.957 426.017 154.088 115.114 13.962 1.248,138 Depreciation At 1 January 2023 Charge for the ar 448,965 13,499 155,203 8.520 130,461 65,555 9.259 13,962 814,146 34,822 At 31 December 2023 462,464 163,723 134,005 74,814 13,962 848,968 Net book value 76,493 262,294 20,083 40.300 399,170 At 31 December 2023 At 31 December 2022 89.992 270.814 23.627 10.488 394.921 Page 17
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 Debtors 2023 2022 Gift aid Prepayments and accrued income 35,000 13.414 35.000 11.266 48,414 46,266 Current asset Investments 2023 2022 Cash equlvalents on dep)stt 1,486,155 970,077 Creditor5: amounts falling due withln one year 2023 2022 Accruals and deferred income 7,228 6,364 Page 18
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 10. Ststement of funds ststement of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Transfers inlout Income Expenditure Designated funds Building improvement fund Capital fund Welfare fund 300,000 394.921 20.000 320,1)00 39,371 620,000 399.470 20.000 134,822 714,921 (34.822) 359,371 1,039,470 General funds General Funds 1,239.079 TT2.586 {560.274) (359.371) 1,092.020 Total Unrestricted funds 1.954,000 772,586 {595.096) 2.131,490 Restricted funds Community Foundat Zurich 1,883 10,000 {1.883) 10,000 11,883 (1,883 10,000 Total of funds 1.954,000 784,469 {596,979 2.141,490 Page 19
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 10. Ststement of funds (continued) ststement of funds - prior year Balance at 31 December 2022 Balan at 1 January 2022 Transfers inlout Income Expenditure Designated funds Building improvement fund Capital fund Welfare fund 200,C 424.837 20.000 100,000 2.150 300,000 394.921 20,IY)O (32,066) 644,837 (32,066) 102,150 714,921 General funds General Funds 1.050,538 755,354 (464,663) (102,150) 1.239,079 Total Unrestrlctod funds 1,695.375 755.354 (496,729) 1,954.000 11. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Net income for the sear (as per Ststement of Financial Actsvibes) 187,490 258.625 Adjustments for: DepreciatM)n charges Amortisation charges Interest from investments {Increasey decrease in debtors Increase in creditors 34,822 3.225 (18,1121 (2,148) 864 32,066 3.225 (2,143) 718 486 Net cash provided by operating activities 206,141 292.977 Page 20
Docusign Envelcyg 10: CwC3F7.3F9447EB-9D7t28DC60DEo83 The People's Kitchen Limited Notes to the financial statements Year ended 31 December 2023 12. Analysis of cash and cash equivalents 2023 2022 Cash in hand Notice deposits (less than 3 months) 210,679 1.486,155 541,575 970.077 Totsl cash and cash equivalents 1.696,834 1.511,652 13. Analy858 of change8 In net debt At31 December 2023 January 2023 Cash flows Cash at bank and in hand Llquld investments 541.575 970,077 (330,896) 516,078 210,679 1,486,155 1,511,652 185,182 1,696.834 14. Operating lease Commitmen15 At 31 December 2023 the charity had cornrnitrnents to make future minirnum lease paents under non- cancellable operating leases as follows: 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 780 520 780 1,300 1.300 2.080 15. Related party transa¢tlons There were no related paty transactions in the currert or prior periods. Page 21