Charfty r•gi>tration number 1084287 INTO THE COMMUNITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
INTO THE COMMUNITY LEGAL AND ADMINISTRATIVE INFORMATION Trn$t• R Edwards Sherratt l Jegurwn¥ M Avotri A Mlolha (Chairl Chadty numb•r 1084287 Ind•pènd•nl oxaminer Darren Croucher BS¢ (Honsl, FCCA, FCA. Crouchets Ltd 2 Copperhouse Court Caldecotttr Milton Keynes Budfinghamshire MK78NL
INTO THE COMMUNITY CONTENTS Pago Tru51ees' report Statement of trustees, re8ponsibililie8 Independent examine¢s report Statement of finanual aclivilies Balancè sheet Notes lo the finanrAal statements 9.18
INTO THE COMMUNITY TRUSTEES, REPORT FOR ThTE YEAR ENDED 31 DECEMBER 2023 Tho Tru8tee8 psent thgir annual report and financial statements for the year ended 31 December 2023. The financial slatemenls have been prepared in aceordance wilh the 8ccounting polieies set out in note 01 to the financi81 statements 8nd compty with the Charity's goveming dOCment, the Charities Act 2011 8nd"A¢¢ounting and Reporting by Charities.. Slalement of Re¢ommended Practice applicable to Chare8 preparing Ihelr accounts in accordance with the Financial Roporting Standard applicablè in the UK and Republic of Ireland IFRS 1021" leffectN8 1 January 20191. Obltctlves and actlvld•$ Into the Community is a Registered Charity no= 1084287. governed by ils Dedarali)n of Tnjsl adopted on 1$1 Seplember 2000. Management of Into the Community is thè responsibility of the Trustees who are e¢ted in a¢¢ordance with the Dedaration of Trust. Into the Community sèeks lo benèfit thé citizens of Milton Keynes through the provision of food distribution centres and a parent and toddler group. The obleds of the Trust are: o promote for the ben8fi1 of the inhabitants of Mihon Keynfys in the County of Buthngham5hire ts surrounding area through the Provision of fac41ities for leisure lime occupation in the intestS of socAal welfare 8nd lo adv8n¢e Ihe education of the pU1C lincludiftg without limitation d)ildren of sth¢)ol and pre-$thool age} and relieve povorty through the prowsion of infomialion, advic8 and vocational IrainirvJ.' In Settng obJeetNes and planning for activitses. the Trustees have gNen dL* Cx)n8ideration lo general guidance published by the Charity CommissTrJn relating lo public benefit. including the guidance 'Public beneft". wnning a charity IPB2}'. Publlc b&nefjt The Trustees have paid Iluo rogard lo guidance issued by the Charfty Commission in deading what activili8s the Charity should undertake.
INTO THE COMMUNITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Actwiti&s Financial review. review of activities and futur• dwolopments Th8 Statemènt of Financial Actiwties for the year is presented on page 7 of th9 finan¢ial ststoments. Total charitable inming re$ourte$ ¥quatad to £544,865. The Food Bank recèived a total 01 £499.137 in the form of food donations £32.467 and cash donations £406,670 during 2023. Bank interest rec&hied amounted to £7.9D5 whilst £37.823 was received through gift aid. The profrt on the aclivili&s of Into The Community arnounled to £292,417. Govemance cosls acLounled for le$$ Ihan 2% oftotal expènditurg. In September 2022 the trustees agreed to donate £300,000 to Milton K&yne$ Community FOUndaon IMKCFI to establish the MK Foodbank Single Beneficiary Endowment Fund with a further £133,0 add by MKCF. The capital of the fund will rem3in in Endowmènt whilst intèrèst and dNidend generated wll be used lo Cover MK Food Bank c4)re o)sts and speafic project C081s throughout the life of the charity. The fund is due to ts finalis¢d in earfy 2024. Where indidual donallons. grants, and gifts a restricted it i8 the policy ol Into The Communty that th&s8 funds are utilised strictly in line wilh the stipulatlon$ of the donor. Thè trustèès endeavour lo have up lo 18 months opeialing expenses in reserves Ibased on last yeals outgolngs thls would be £549,109) and are holding £75,000 in reserve for ¢8Pital èxpenses arising from our upcoming movè lo Galley Hill. ITC held gonorol reserves of £769.572 as of 31st December 2023 in¢lu$ivo of the £150.000 lo be invested in early 2024. Into The Community operates The Food 88nk prolIng lo¢al families and inthvbjuals with ess&nllal fo¢d SupplS at g time when they need them most, ¢xvering the days or sometimes WkS bèfore other parts of Ihe 50¢ial care infraslruthre can come into play. To qualty for help. families or individuals need to be referred to The Food Bank by one of ils many refèrral agents auoss the aty of Milion Keynes. The Food Bank sèl up a hel 1& during the pandemic. The helpline bs a150 used significanlty by the community in addition to some of the lar9trr s&Nng ¢entre$ having Ihe ability lo issue vouthers. Agents indude Health Sitors, Doctors Surgeries, Probation and Soa31 Serwc8s •tc. ITC operated a PaAt and toddbr group up Unt 31sl December 2023 at which lime operational responsibility was handed over lo Milton Keynes Christian Centre. In dauding what actiwties the charity should undertake. the trustees have considered the Charity Commi88ion's guidance on public bènafit and conduded that ITC'S objectives. alms, and a¢ti¥hl*$ provide identifiabb benefits to the public and that these benefits are not unr8asonably restricted in any way. FoodBank IntroductSon 2023 was18rgely dominated by an escalating Cost of Lmng crisis. Home energy, food and fuel pricos rosa lo new heights, impacting almost everyong. For the most disadvantaged, thi5 led to ¥ bleok year and a na8d for longer-lerm support simply lo make ends meet. Infftasingly 81so, many more famil5 and individuals have never had to ask for help before fcnd Ihemselves in a position where they ng¢ded lo engage with our crisi5 semces. Coro Statistics Over the ¢x)urse of the year we distributed 21,874 èmergency food parcèls. 13.540 of these were adult parcels, .334 went to children, and 971 were delThrered direcrfy through our communty partners. In addilK)n, oui lopup shops were visited 3.06Q limos. Overall, this represents an increase of 40% in deman¢J 09ainst 2022, and more than hall of #ll daim8nts wèré new- around 60 per week. 4S% of parcels given out were seW-referra15 vfd the h&lplin& and 65'h directty through one of thè many support agencies who wè partner with. Through these local social care, health, edueation and other partners we also ensure people are receiving hèlp with their underfying issues. Thè rising cost of food had anolher unfortunate Consequence in Ihat donations of food from the putllc have decreased. Over Ihe course of the year, dor)ale(I food Wvtrd On 66•h of what we needed. and the rest needed lo be bought.
INTO THE COMMUNITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trends in demand Over the past ye8r demand foi our sèrvices has inexe8sed by 40%. Almost all of this increase is acuunted by people who have never had to use our 6eM¢es beforè. In contrast to previous years, th& increase has been steady throughout the year. Vthere our bu5iesl months are normally in wnler Iwilh food parcel use being diredy linke(I lo o)Id weather) and we see a decli in Spring and Summer, in 2023, we saw a gradually increase. For the first Ilme evar wa gavè out more food parcels in August than in January. A dependency on the immediate aid of food parcels has 8 detrimental effetl on an ullinale, kjngertem solution lo helping people out of povety. Our Top-up Shops were developed in 2022to address this. Customers can purchase any 10 ilerns for £2, to a maxirnum of 20 items pei househokl. Th¢ aim is to increase independence and freedom ol ¢hoi¢, and ultimaioFy help peopk lo lake o>nlrol of their lives and move, stepby4tep. out of poverty. The shops are open lo everyone in fmanaal hardship, bul we are specificalty tsrgeling Food Bank users who have had 5 or morè parcels in 12 rnonths {and th8rèlore at risk of dependency) and are now helping hundreds of households Put fo¢xl on the¥ tables. As wo11 as our static shops, we have opened ihree mobile top-up shop slops from our van with a further thro¥ oyning soon. Ov•r 1.000 housèholds have ben8fitted from the lop-up shops so far- genuinely makng the dtfference of whelherthey fall Into debt, or are able lo use healing and hot waler for longer. Th• Charlty Hub. Thè ntInuIng P¥rtnershlp wrfh MK Counul h¥$ $nabled MK Food Bank to go from strongth lo strength. Our Charity Hub in Kiln Farm, fvnded by MK Council, is now home to four ¢harilies and the Counol's Xtra project. all of whom are atle lo provide immediate pra¢tical assist8nce lo residents in crisis. Togelher, the organisations have SLFPPOrted well in excess of 5,000 households in Millon Keynes with food. baby and household essentials, hygien4 and sani18ry produ$. Furthemore. by collaborating with the Job Centre and MK Council, we have established a network of organisalions who also support with h)sn81 and debt matters. as well as ad¥e and support on a nurnber of other issues. Discussions continue lo buikl a new 'Chty Hub, in coryunctiori viilh MK Community FoulatIOn. Thls w511 provlde a long-lemi base for like-rninded organisations to work together to achieve more- tad(ling irnmediale crisès su¢h as the Cokid-19 pand¥mie and the arriv ofAfghanistani and Ukrainian fugees. Our supportor8 Our team of dedicated volunteers has inueasfrd lo 90+, dgliverlng around 2SO voluntary hours every week. Vndertaking a variety of role$ in thè warèhouse, on the hèlpline. * serving centrès and delivering and CA)Ilecting in our vans, they have been joined this year by a group of collection drivers who support our monthly BIG Doorstep GIVE. Designed to enable food donations from those who order shopping onllne. we are now wularly collo¢tlng trom 60 + hous•s and averaging around 2.000 itoms •ach rnonth. Our volunteers come from a divgrs$ rangè of backgrounds and in¢lude adults aNI young people with support needs, asylurn seekers and those undertaking community Service and Teparations. Our Corporatp voluntsering pr(*grammo has gone from strength to strength and during our bu3y months of October- February, we regu18rfy welcomé tèams from business of an sizes acros5 the city. Throughout the year we also welcome major food rnanufactureis Ihiough out partn&r$hip with M&M Supplios. This yeai we continued lo foeus heavily on p#rtn•r¥hip bulldlng and d•v•loplng our brdnd. Wnning the MK Business A¢hievernenl Awards Charity of thè Year award in March openèd many doors and ènabled us to develop several major corporale relationships. These have resulted in a signfficanl increase in donations of f¢od, money and lime. as well as ikind support. We embraced press opportunitie5 10 raise awareness of our silualK)n, appearing on local and national telewsion and radio news, and in local publications. We launched a new wèbsite in the summer. alomng with a blog. and conts'nu$d to raisa our online presence to generate donations and advertise our services.
INTO THE COMMUNITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support from the communlty - from indwiduals, churches. h0O1$ and community grpS is strong. Our Reverse Advent campai9n was our most successful ever and fvndrai5ing through Lo¢algiving and Ju$tgivin9 is high. Oui Chiislmas 'Message of Hope, event to ¢9blate the contributions of the community was a gfeal $ceSS and once again school children Irom across the ¢ity were invited to share mèssages of hope to decorate our Christmas tree. and share some MUCeeded hope and po$ilivity with our eommunity this winl•r. A¢hlevèmÈnts ond perforniance SNgnifiGanl activ185 and achiev&menl$ 8gwnst obJècfNes Fln•n¢lal r¢vl•w Going ¢on¢em After maknng appropriate 8nquiri8s. the Trustees have a reasonable expe¢lation that thè Charity has adequate resouT¢es lo ¢ontinue Sn operatK)nal existence for the foreseeable future. For this reason, thgy ntinUe to dopl the going concem basis in pieparing tho finan¢ial slalements. Further details regarding the adoption of the going concern basis can be found in the •¢counting policies. Maiornsks The Trustees have a$s¢$sed the major risks to which the Charity is exposed, and aro satisfied that systems are in place lo mf(ig81e exposu 1¢ the major risks. StN¢turg> governan and manag•m•nt Con¥tiluli¢n Into the Communrty 1$ a rgglstgred Charity. number 1084287. and is o)nskn'luted under a Trust dwl. There are fow Trusl&es of Into The Community who are required to meet 81 least 1¢8 a year. Originating Trustees ar& ¢nlilltrd to hold office for life whilst new Trusl8es are appointed for terms of Off of Ihr&è years by resclution of the Trustees. Tru$lee$ may be iemoved from Offi rf disqualified under Ihe Charf(ies Act 1993. if absent from consecutive meetings, rf removed by resolution by all other Trustees, or il they resign Irusteaship by notice writsng providad there are at least Continuing Twstees. Tho Trustees who seNed during the yaar and up lo the dale of Signatu of th$ financial statements were= R EthYaTds M Sherratt l Jegunma M Avotri A Mlotha (Chairl Rgcruilment and appointnpnt of tryst&es The management of the Charity 15 the responsibility of th Truste•s who are eleded and ctropted undèr thè tems of the Twsl deed. The Iruslee$' r•port was approved by Ihe Board of Tru5tee5. R Ethards Trustee A Mk)Iha (Chairl Tru¥tsg 0g1e'. ..15th October 2024...........
INTO THE COMMUNITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees are responsib for prèparing the Twstèes, Réport and the financial statemenls in accordance with applicable Iw4 and United Kingdom Accounting Standards {Uniled lfjngd¢)m Generally ApIed Accounting Practice). Th018w appli¢able to ¢hotiO$ in Engl8nd gnd Wales requires the Trustees to prepare finanal statements for each financial year which give a true and fail wew of the ste of alfairs of th& Charity and ol the incoming resources and appkcation of resources of Ihe Charity for that year. In preparing thèsè finanuol statements. the Trustees are requi lo: - select suitable accounth'ng poliryes and then apply them ¢onsi$tenty,' - observe the meth¢)ds and prinGiple$ In thg Charities SORP,. - make judgements and estimates that are reasonable and prudent - state whether applicable accounting standards have been follc¥wed. subject to any material departures dSs¢ksed 8nd expl811 in thg ffin¥ndal $tstemgnls- and prepare the financAal statements on the going nCern basls unless M Is in8ppropri8le to PresUn that the charity will continue in operation. The Trustee8 a r$sponsibl& for keèping suffiuenl aceounling records that disdose wlh reasonable aceuracy al any lime the financial position of the Charity and enable them 19 8nsuro that the fsnancial statements comply wlh the Charities Act 2011, the Charity (Accoun18 and Reports) Regulations 2008 and the provisions of Ihe trust deed. They are also responsible for safeguarding the assets of the Charity arKI hence for taking reasonabl8 steps for the pVent)n and dete¢tion of fraud and othgr irregularities.
INTO THE COMMUNITY INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF INTO THE COMMUNITY l Mport to the Trustees on my examination of the finandal statements of Inlo the Community (the Chartyl for the year ended 31 December 2023. R•8ponsibilEti•s and basis of report As the Trustees of the Charity you are responsible for Ihe preparation ofthe financial SeMentS In accordance wth the requirements of the Charities Act 2011 (the 2011 Ad). I report in respect of my examination of the Charfly's finan¢ral statements carried out urbder seclion 145 of the 2011 A¢t. In cwrying out my examination I have followed 81 the applicable DiTeolions given by thg Charity Commis6iC under se¢tion 1451Sllbl of the 2011 Act. Indepond8nl examlngrfs statement Since the CharlS gross income exceeded £250,0 your exarniner rnusl be a rnefflber of a listed in $8¢tion 145 of th$ 2011 Acl. I confirm Ihal l am qualrfied to undertakè the examination because l am a member of ACCA and ICAEW, whi¢h are both one of the listed bodies. Your attention is drawn lo the fact that the charity has prèpar8d financial stalements in accordane with A¢UntIng and Repth'ng by Charitte5 preparing their accounts in 8ccoidan¢e with the Finanual Reporting Standd applicable the UK and Republic of Ireland IFRS 102) in preference lo the Accounting and Rep(Irbng by Charilies.. Stalernenl of Recommended pract issuèd on 1 April 2005 which És referred to in the extant regulations but has now been withdrawn. l understand that thi$ has been done in order for finand81 slalemenls to PTOVhJ& a true and fair view in a¢¢L¥d8n¢ wrfh Generally Accepted A¢counling Practi effective for feporting periiKls b8ginning on or after 1 January 2015. I have rA)mpleled my examination. I contimi tti no mattèrs hava comg lo my attention in connethcty) with the examination givin9 me cause lo befieve that in Y maleiial respo¢1'. accounting records wer8 not kepl in respect of the Ch8rity as quired by sectron 130 of the 2011 Act; or the financAal statements do nol accord with thosè rècords., or the financial statements do not ¢omply th the applicable requirements concérning the fonn and content of acKounts set out in Ihe chtieS IAco)unts and Reports) Regulations 2008 olher than any requifftm&nl that the ac¢ounl$ giv• a truè and fair Mew which is not a matter considered as part of an independent examinath)n. I have no ¢oncems and have come a¢ros$ 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 financial slalement8 to be [hed. D*rrnn Crou¢h•r Bsc (Hon81. FCCA FC Croucher8 Ltd 2 Coppethouse Court Caldecotte Milton Keynes Buckingham5hire MK7 8NL Dated. &(AL
INTO THE COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrostiicted Unre$trlctsd funds fvnd¥ 2023 2022 Notes Incomo from: Donations and legacies Investment income 536,960 7,905 479.834 1,337 Total Sn¢om• 544,865 481,171 Expèndltur• on: Charitable actiMti8s 367,723 189,204 Totsl •xp•nditsr• 367.723 189.204 Net income 177.142 291.967 Transfers between lunds 592,430 300.463 N•¢ movom•rrt in fvnds 769,572 592.430 Rg¢on¢iliation of fvnds". Fund balances al 1 January 2023 Fund balances at 31 Docember 2D23 769,572 592,430 The statement of financial a¢tivilies indude$ 811 gains ond1088es recognised in the year. AJI income and expenditure derive from continuing actMtie5.
INTO THE COMMUNITY BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Fix•d a$$•ts Tangible a$$8ts 47.270 65,588 Current a$wts Stocks Debtors Cash al bank and in hand 10 11 47,728 30,325 4,042 794.796 678,343 726.439 829,163 CdItO. *mounts falling due within one year 12 14.1371 Q02.3211 Net currentassets 722,302 526,842 Total asset• le88 current Ilabiliti•8 769,572 592,430 Nèt as$•ts •xeludlng p•nslon Ilability 769,572 592.430 The lund8 of th• Charity Unrestiicted funds 769,572 592,430 769,572 592.430 15th Uc¢ob¢r 2024 The nanimal statements were approwd by tho Trustees on ........... R Edwards Trustee A Mlolha (Cha> Trnstee
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity inl¢mtion Into The Community 1$ the registered eharty in England. and Wales and is uninc4Jrporated. The addrESS of the principal Offi is Stru(hYith Driv8, Oldbrook. Milton Keynes. MK6 2GT. 1.1 Accounting convfrntion The finanaal statements have been prepared in accordance with tho Charills governing dowment, the Charities Act 2011. FRS 102 "The Financial Reporting Standard 8ppltable in the UK and Republic ol Ireland" l°FRS 102") and the Charitiès SORP 'AGcounting and Reporting by Charities.. Statement ol Recornmgnded Practice 8ppIicoble to ¢harilio$ pr¥paring th8ir accounts in accordanc• with the Finanual Reporting Standard &ppli¢able In the UK and Republic of Ireland IFRS 1021" leff6otSve 1 January 2019). The Charity is a Public Benefit Entity a5 defined by FRS 102. The Charity has taken advanta9e of the provisions in the SORP fN charities not lo prepare a Stslement of Cash Flow$. The financial statements have departed from the Chaiities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Pra¢ti¢e foi Charities applying FRS 102 rather than the version of the Statement of Rec£Jmmended Practice which is referred tts in the Regulati$ bul which has since been wlhdrawn. The finAncial stAtements are prepared in sttvling, which is the fijnctional cuThenGy of the Charity. Monetsry amounls in these fflnancial stslemenls are roundgd to the nearest £. Into the Communty meets the definitlon of a publlc benefit entty under FRS 102. Assets and liabiltties are In1.allY reGognised at historical cost or tranSactn value unless otherwise staled in the relevant aceounling policy. 1.2 Golng concem Al the Ime of approving the ffin#n¢ial statements, the Trustees have a re860nable expectstion that thg Charity has adequate resources lo continue in op8ralional existence for the foreseeable future. Tttus the TrL¢lee$ ¢onbnue lo adopt the going con¢em basis of accounting in preparing the financial statements. 1.3 Charltablè funds General funds are unrestr*Xed fvnd5 which are availabk for use at the distrelion of thè Trusteès in furtherance of the general objectNes oflhe Charity and which have not been designated for other purposes. Designated fvrmts comprise unreslri¢ted funds that have beèn set aside by thè Trust•8s for particular purposes. The aim and use of each designated fund is sel out in th& notss lo the financial stslements. Restred fvnds arè funds which are to be used in accordance with spriC restrictions imposed by donors or which have been raised by the Charity for particular purpo$e$. Th8 eosts of raising and administering such funds are charged against the specthc fund. The aim and use of eath restrict futvj is sel out in the notes lo the financial statements. Investrnent in¢om¥. gains and losses are all0¢al1 lo the apprcyriate fuThJ. 1A In¢om• Income is recognised when the Charity is legally entitled to il after any performance conditions Ive been meL the amounts can bo measurèd reliably, and it is probable that income will be reived.
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢oundng poll¢los IContinu•dl Grants are included in the sl8lem•nt of finanaal activities on a receNat4e basis. The balance of Inrne received for specific purposes bul nol expended during Ihg period is shown in the Televanl funds on the Balan¢e $he91. WhgI9 income is received in advance of enlillement of re<ipt, its recognition is deferred and included in credrtors as deferred income. Where enlitlemenl occurs before inrne is rer£ived, the income is accrued. Gifts in kind donated for distribution are induded al valuation and ¢09n1$ed as income when they are di$lthuled to the projg¢ts. Gifts donated for resale are included as income when Ihfry arg sold. Income tax recoverable in relation lo investment income is re¢ognised at the time the inves1ment income 15 recgivabla. Lggacies are recognised on ceIpt or otherwise rf the Charrty has been notified of on impending distribution. the amount is known. and receSpl is expected. If Ihe amount is not known, the legacy is Ireat$d a$ a contingent asset. 1.$ Expendlture Expenditure is recognised once there is a 18981 or constructive obligaticfi to transfer economi¢ nent lo a third party. il is probable that a transfer of economic benefits will be r&quir8d in setuemenl, and Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity. Thtr costs of each adivity ale made up of the total of dIrt costs and shared costs, includlng support eosts involved in undertaking each activity. Direct Costs attribulable to a single activity are allocated directly lo that activity. Shared ¢osts whi¢h ¢ontribute to rnore than one aclivity and support ¢o$ts which are nol attributable to a singlè a¢tivty 8re apportionèd betreen those adibi'es on a ba818 consislenl with the use of resources. Central stafl c051s are allocated on the basis of time spenl, and depreiialion tharges are allo¢al?d on th$ portion of Ihe asseys use. Expenditure on charitable activitie5 is incurred on dlre¢tly undertaknng the aclimlies which further th? Charity's objecti$, as well as any associated support costs. All expenditure 18 indu8Ne of Irrecor8b1? VAT. Interest rettivablt Inltr8$t on funds held on deposit is induded when receivable and the amount can be measured reliably by the Charity,. this is nomally upon noltfication of the interest paid or payable by the instittrtion with whom Ihe funds are deposited. 1.6 Tangible fixed assets Tangible fixed assels a initially me8$ured al c$1 and Subsequenlty measured al cost or valuation, net of depreuation and any impaiment losses. Oepreciation is recognised sts as to write off the cost or valuation of assely less their residual values over their useful h'ves on the following ba8es'. Fixlures and frttiroJs Computers Motor vtthi¢l&s 20•A 20°A 20% The gain or108s arising on the dlwo$al of an asset is delemiined as Ihe dlfference bglween Ihg sale proceeds and the caryiNJ value of thè asset, and is recognised in the statement of financial a¢tiviknes. io-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polkS•$ {Conlinuodl 1.7 Stocks Stocks arè stated at the lower of cost aThJ estimated selling price less costs to compte and selj. Cost comprises direct materials and. wherè applicable. direct labour costs and ihose overheads Ihat have been incurred in bringing the stocks lo their present lo¢alion and condition. Items held for distribution #l no or nominal consideration are measured the lower of repla¢8ment cost and cost. Net realisable value is the eslimaled selling price less all eslrmat*d ¢osts of MlatSn costs to be Inrred In maTketiThJ. $elkng and distribution. 1.8 Cash and rAsh equivalents Cash and cash equivalents Indude ¢a$h in hand. deposits held at call with banks, other short-temi liquid investment$ origin81 maturities of threè months or ss, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanelol Instrumènts The Chaiity has èlècted to apply Ihe provisions of Section 11 'B85i¢ Finan¢i81 lrtslruments, Section 12 'Olher Finanryal Instruments Issues, of FRS 102 to all of ils finanaal instruments. Financial instruments are recognised in the Charity's balance sheel when the Charty beMe$ party to the contractual provisions of the instrumenL Financial assets and liAbl"b"eS are offsèt. with the net amounts presented in the fanual 8ts1emenls, when there is a legally enforceable right to sel off the reengnised amounts and Ihere 15 an intenlion to settle on a net basis OT to realise the asset and settle the liabiltiy siwnuhaneously. Bas1¢ finan¢lala$$•ts Basie financial assets, which include debtors and (ash and bank balances. 8rg inibalty measured at Iransadion pri¢s induding transaction ¢osts and are subsequenuy carried al amortised cost Using the effe¢ti Inte$1 method n$S the arrangement constitutes a financing transaction, where the transaction is ffleasured al the present value of the futu recèipts di$Unted al a market rate of interest. FinanrAal assets classified as receivable within one year are not amortised. B•sl¢ finJn¢i•l liabllltlos Basic financial liabilities, induding ueditors aThJ bank loans are inilialty recognised al Iran$8¢tion pric£ unless the 8rr8ngomenl ¢on$titules a financing transaction. where the debt inslwmenl is Measured al the pSnI value of the futu payments dis¢ounled 81 a market ratg of interest. FinarKval liabilities dassthd as pay8ble wf(hin one year are not #mortised. Dgbt inslruments are subsequentty carried al amortisèd cosl, usbng the effectNe interest rAt8 m81hod. Tr4dè ¢redilors are ot4igations to pay for goods or serwces that have been a¢qLtired in thé ordThiary course of operations from suppliers. Amounts Payab a dassified as current liabilityds if payment is due wthin one year 01 less. If not, they are presented as non-current liabiliti&s. Trade cdItOrS are recngnised tiallY al transaction prieÉ and subsèquentty measurèd at amortisèd cost usin9 the effective interest method. Dwé¢ognitlon of Ilnanelal IlabKftI•s Finanaal liabilitS are derecognised when the Chariws contractual obligatK)ns expire or ole discharg8d or ¢an¢ell8d. 11
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Contlnu•d) Li•biliti•$ #nd provi¥lon• Liabilities are recOlsed when there is an obligation al the B8lan¢e $h8el date as a result of a past event, it is probable that a transfer gf economic benefrt will be required in settlement. and thè amount of the settlement CAn be eslimaled rèliably. Liabililie$ are re¢ognised al the amount that the Charity anticipales It will pay to sèttle the debl or the amount It has rèceDied as advancad payments forthe goods or semces (( musl promde. Prowsions arè measured al the best eslirnale of the 8mounls roquired to settle the obligation. Wvhere the effect of the tlme value of money 15 material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability- Thg unwinding of the discount is recogni5ed in the S181emenl of ffin8ncial activities as a finance ¢ost. 1.10 Employ00 bon•ffts The cost of any unused holiday entitlement is rgcognisgd in the pgriod in which the employee's serv05 aro r1¥0. Tennination benefits are iecognised immediately as an expense when the Chaiity 1$ d¢monslrabty committed to temiinate the employment of an empjoyee or lo providè t8rn1ination benefits. 1.11 Dgbtorn Tiode and other debtors aro recognised at Ihe settlement amount aftèr any trade discount offered. Prepayme1 are value(l at the amount prepaid net of any trade disco15 due 1.12 Op•ratlng ka8•8 R&ntals paid under oporat¥ig leases ar? ¢hargèd to Iha Statamant of financial aCtItieS on a slraKJhl- line b8si$ 0r the lease term. 1.13 crftlcal accountlng e$tim•ts$ #nd arèas of Judgm•nt Eslimales and ju¢Jgmenls are continualy ¥valuatèd and are based on historical experiènee and oth8r factors, including expectations of fvlure event$ that are believed to be reasonable under the cir¢umstsncgs. Critical accounting tr$tinal*s and assumptions". The Charty makes estimates and assumptions conreming th8 ftrfur8. The resulting acclwntiro eslimale$ and assumptions will, by definition, seldom equal Ihe related actual r8sulls. The estimates and assumptions that have 8 svJnificant risk of causing a material adjustment to the ¢¥rrying amounts of assets and liablities within the next ffinanaal year a di$¢u$$gd b$low. 12-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 InC¢m from donallons and ltya¢les Unrnstrlcted funds 2023 Unr•strictsd funds 2022 Donalions and gifts Legacies receivable Olher cOme- Gift in kind 466,670 32,467 37.823 425.919 21,575 32,340 536,960 479,834 t)onatlons and gifts Cash Donation$ 466.670 425,919 466,670 425,919 Legacies receFvable In-knnd food donalion8 32.467 21,575 32,467 21,575 Grants re¢eivabl• for cor• actlvltS•9 Other in¢ome- Gift aid 37.823 32,340 37,823 32,340 kncome from Inv•$tm•nts Unrestricted Unrestrictsd funds funds 2023 2022 Interest receNable 7.905 1,337 13-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Expgndltur• on charllable acllvltles Charltsble ChaiTt4ble activlti activitiès 2023 2022 Dlre¢t ¢osts Food Bank.. Food Di$tribut&ins and stock movement Food Bank.. Purchased Food Food Bank- Salaries and Social Security Costs Food Bank-. Premises Food Bank.. Postage. Stationary and Computer Suppllg$ Food Bank.. Publiaty Food Bank.. Sundriès snd Train#ig Food Bank.. Volunteer Costs Food Bank.. DePClatIOn FarAI Bankn vehic Costs Fac4J Bank.. Governance Costs Fo¢* Bank.. Profgssignal fee 163,949 63.069 4,363 68,983 4,492 1.469 6,121 114 94,206 4,803 1,728 30,207 41 1.169 18.318 12,084 5,218 36,000 13,492 10.629 4,1( 12,000 7.723 189.204 Analy•lA by Unreslri¢l¢d luThJs 367,723 189.204 Nèt movem•nt In fvnds 2023 2022 The net movement in fvnds is staled after chargingl{cred[n9l= Ogprgciation of owned tangible fixed assets 18,318 13.491 D•pr•ciation oltangibles.. Tot•lSOFA ¢hary• dhY•pts fmm BS notes by.. 18.318 13.491 Employ•gS The average monthly number of employees during the year w8S'. 2023 Number 2022 Numbèi Key management pgrsonnel include all person5 that have aulhorty and responsibilty for planning, directing, and controlling the aCtIlieS of the ch8rity. The total compensation paid lo key management personnel for SalCeS promded to tho charity was £ 50,000 (2022 .' £27,500). Thare w&re no employees whose annual remuneration was more Ihan £60,000. 14-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Employees IC¢)ntlnu•dl Remun•rntlon of key manag8m•nl p•rsonnel The remuneration of key mana9emenl personnel was as follows.. Durlng year. no Trustees r[VOd any mneratIon or other beneffts (2022- £NIL). Duwin9 the year ended 31 December 2023, no Tru$lee expenses have been incurred (2022- £NIL). Indèpendènt examlnee* remunèratlon Fees payable to Charity's independent examiner for the independent examination of the charity annual account £2,41)012022 . £1,750) Taxatlon The Charty is exempt Irom taxali)n on ils a¢thvhies because all its Incrne Is applle¢J for chartiable pwses. Tangible fix•d a¥¥ets Flxtur•s and Comput•rn flttln9S Motrf v•hlclo8 Toill Cost Al 1 January 2023 39, 7.156 51.194 98,313 At 31 Dgcgmbgr 2023 39.963 7.156 51.194 98,313 Dèpreclatlon and knpalmi•rt Al 1 January 2023 Depre0110n charged in the year 22,581 7.028 3,825 1,051 6,319 10,239 32,725 18.318 Al 31 December 2023 29,609 4.876 16,558 51,043 Carying amount At 31 December 2023 10,354 2,280 34,636 47,270 At 31 December 2022 17.382 3.331 44,875 65.588 10 Sto¢ks 2023 2022 Raw maleriajs and consumables 47.728 30,325 15-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Dgbtors 2023 2022 Amounts f•lling due wlthln on• y•ar.' Arnounts owed by fell¢M group undertakiwJ8 other debtors 276 4.042 368 4.042 12 Creditorn: amounts falling wlthln on• y•ar 2023 2022 Trade ¢reditors Accruals an¢J defeffed Income 2,487 1,650 300,821 1.500 4,137 302,321 13 Lknr¢stsl¢t•d funds The unrestricled funds of the th•ity ¢ompri9g tho unaxp8nded balances ol donation$ #nd grants whi¢h are not subject to specific conditions by donors and gr)ntors as t¢ how they May be used. These indude dtrsignatsd funds whi¢h have been sel asidè out of unrestsicted funds by the truste0$ loi $pgofic purposes. At 1 J•nu*ry 2023 In¢omlng resour6 Resources oxpondgd Tvamfern At31 December 2023 Parènts and Toddlers Food Bank Milton Keynes Communty Foundation General FuThJs- all fijnds General Funds 592,418 536,960 1367,723) 761.655 1983} 1983) 7,905 33S 7,905 335 592.430 544,865 {387,7231 769,572 16-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Unrg$trictsd funds (Continued) Prtvlous year. At l Jnury 2022 In¢omlng rosourc•s Rosources •xpènd•d Transfers At31 D•¢omber 2022 Parents and Toddlers Food Bank Milton Keynes Communty Foundation General Funds- all funds 660 592.418 600.464 479,834 {188.7541 1299.1261 1983) 1983) 1.337 11,3371 6.141 481.171 (189204) 300.463 592,09S 14 Analysi$ of nèt a$s•ts b•trtètn thnd$ Unmtri¢ted funds 2023 At 31 D•c•mb•r 2023: Tanglble assets Cufferbt asselsllliabiliti88} 47.270 722,302 769.572 Unrestrl¢t fund8 2022 At 31 De¢frmr 2022: Tangible assets Current asselsloiabililies) 65.588 526,842 592,430 IS Related pariy transactions 17-
INTO THE COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Relatod party transactions Iconlknuedl Trnn#actlons wlth r•latsd prtl•s Ouving the year the Ch8ri1y enlerod into the fOWIng transactions with rglated partw.. The tee$ recognise Ihat the charity Milton Keynes Chrisiian Cènlre (MKCC) L8 a related party. Some of the ditorSruStees of Mllon Keynes Christian Centre are al$0 trust$8$ of Inlo lh• Cornmunty {ITCI. MKCC passed rlonalion$ givgn by ¢hur¢h members to ITC totalling £7,110. MKCC also passed on weekty food donations collected on behalf of ITC 18-