CoTnpany registration number.. 04318070 Charity regFiStration number.. 1096570 Folkestone Rainbow Centre (A company liiniied by guarantee) Annual Report and Financial Stateinenls for lh¢ Year Ended 31 Deceinber 2023 Beresford5 Chartered Certified Accountants 1-2 Rhodium Point Spindle Close Hawkinge Folkeslone Kent CT18 7TQ Folkestone Rainbow Centre Contents Reference and Administrative Delails Trusiees, Report 2to6 Statement of Trustees, Responsibilities Independent Examiner'5 Report Statement of Financial Aclivities 9t0 10 Balance Sheet Notes to ihe Financial Stalemenls 12to26 Folkestone Rainbow Centre Reference and Administralive Details Truslees Mr N J Buckley Mrs J A Doherty Miss D Douse Mr A G Ferguson Dr P Le Feuvre Mrs E J Pettersen Dr J Russell Reverend G I Webber Secretary Mr S C Corner Registered Office Cornerstone 69 Sand&Trale Road Folkestone Kent CT20 2AF Company Registralion Number 04318070 Charity Registration Number 1096570 Independent Examiner Beresfords Chartered Certified Accountants 1-2 Rhodium Poiiit Spindle Close Hawkinge Folkestone Kent CT18 7TQ Page I Folkestone Rainbow Centre Trustees, Report Small companies provision slatement This report has been prepared in accordance wilh the small companies regitne under the Companies Act 2006. STRUCTURE, GOVERNMENT AND MANACEMENT The Iruslees. who are directors for the purposes of company law, presenl the annual slralegic report together with the financial stalemenls of ihe charitable company for the year ended 31 Deceinber 2023. The Folkestone Rainbow Centre is a company limited by guarantee governed by ils Memorandum and Articles of Associalion daied 6 November ?00 l. This report has been prepared in accordance with the small companies regiine under ihe Companies Acl 2006. The Centre is also registered as a charity with Ihe Charity Commission. The Irusle¢s have prepared the annual report and financial staleinen15 in accordance witli the charity's goveri)ing document, Ihe requirements of charity law. in particular the Coinmis5i()n's Statement of ReLominended Practice. The truslees confinn that they have had regiard to the commission's gL¢idance on public benefit when exercising their powers and duties lo which Ihe guidance is relevant. The ways in which ihe charity has contributed to publiL benefit are scl out in lh¢ slaleTIILnt of activities. Risk Management The trustees have a duty to idenlify and review the risks to which the charily is exposed aiid lo ensure appropriate controls are in plaLe 10 pr()vide rciisonable assurance against fraud and error. A detailed risk registcr is Inaintaii)ed and updated ill Icast once a y¢ar. OBJF.CTIVES AND ACTIVITIES Aims and Objeetives The Rainbow Cenlre is a Christian charity whose purpose is lo deliver services in folkeslone and 14ythe 10 provide support and hope to individuals and families experiencing deprivation or hardship. The Objects of ihe Raiiibow Cenlre, as recorded by the Charity Commission are 'For Ihe benefit of Ihe inhabitanls of Folkestone and neigihbourhood withoul distinction of sex, colour, a&)e or political, relig>ious or other opinion5, and to promote the relief of pcoplc in need in any manner which now is and hereafter may be deiniscd by law to be charilable, including) the relief ot. poverty and advancement of leaming,. Underpiiiningy the objective are five values which provide a quality frainework for all work which is undertaken in Ihe name of the Rainbow Centre. R¢spect Coinpassion • Excellei)ce Collaboration Commitment Page 2 Folkestone Rainbow Centre Trustees, Report ACHIEVEMENT AND PERFORMANCE Overview In 2023, Ihe Rainbow Centre Inainiained all of ils long-standing services, some of which needed 10 expand to respond to increasing demand, especially fvoin people experiencing homelessness. Larger nuinbers of people are now attending our Day Centre. benefiting from a warni and friendly space and from the range of services thal are on offer. We ran another successful Winter Sheller in a local B&B with our Church partners. With Inany volunteers, they provided cvening meals seven nights a week. Our Pantry in H)ohe is now well-established and well-used. In October 2023, a mobile combined toodbank and Pantry went on Ihe road, the firsl such v¢nlure in the country. Witnessing accounts of people moving froin the toodbank lo Ihe Pantry and ihen no long7er needii)g? our services dcinonstrates Ihe effectiveness of givin&J help lo people al limes of need bul also seekingi to give Ihein the ability and confidence to move on. Two of our other vilal projecls- the Famil), Conia¢t Centre and the Money Matter advice service continue to provide vital services in our IoLal communiiies. We reinain in discussions with ihe Dislricl Meihodi51 Church to plan iogether for multi-purpose buildings on the sile of the old Meihodisl Church in the centre of l-. olkestone. As well as gyenerous support from both central and local government, we continue to be blessed with generous donations froin local businesses, supporters and residents. We had a healthy financial year, and our reserves remain sloble and sufticienl. Thanks lo Mary Slredwick, our Chief Executive s Inuliiple skills. we have Slrengihened relalionships with Inany local partiiers and been successful in n)any tunding bids. Homeless Support Serviee and Rsinbow Club Sadly, homelessness is on Ihe in¢rea5e, partly because of unaffordable rent, H,hile housing benefits have iiol kept pace wilh it. The Homele55 Support Service continued 10 support people struggling to keep their tenanLies due lo increasinb? renls and section 21 (no fault) evictions. We support them wilh advice and advocacy to find move-on oplions. Some of those vulnerably housed end up sleeping rough and rely on our praclical suppon of showers, breakfast club, laundry facility. registering with GPS. postal address and referrals lo specialisl agencies. In the last year, we have seen a steady increase in new people presenting at our service as rough sleepers, with an average of 4 new people each week for the first and last quarters of the year. We saw more clienis with a lo¢al connection and a diverse range of ages, wilh quile a few younger clients, primarily men, presenting due to tamily breakdown. We continue nurturing new relationships with local landlords and tackle ihe barriers faced by our clients to gain Ihe trust of landlords and access more affordable hoines. In addition to winter shelier clients, nine clients were housed, and we continue supporting them in sustaining their tenancies. The breakfast club has becoine a five-day Day Centre, a safe space, and from it, several agencies offer vilal services lo our clienis. We introduced holistic client suppon by introducing weekly nurse Service and a quarterly health day now attended by 8-10 support services, including a dental van. Other services include a benefits maximisalion clinic and a drug and alcohol recovery service offered by Reach Out And Recover (ROAR). On average, 28 people who use the space regularly benefit from these services. We attended to a total of 2164 walk-ins and telephone enquiries requesling housing advic¢ and other support, including access to showers (222), laundry (254). food parcels (118), dental van (22)- haircuts {53), poslal facilities services, Page 3 Folkestone Rainbow Centre Trustees, Report Shepway Food Bank Part of the Tru55ell Trust Network of more than 1300 foodbanks Ihroughoul the UK, the Shepwa}' Foodbank is one of the integral services OPLraled by the Rainbow Cenire for nearly ten years, providing eniergency food i() pcople in crisis across the whole of our district from Lydd through to 14awkingTe. We work closely with 95 referring agents, the equivalent of 350 Professionals from health, Citizens Advice, Social Services and schools, who can raise a food voucher for their clienl via our e-referral syslem. Up until October 2023, we have been operating a predoininanily delivery service since the Covid-19 pandemic days, which we have replaced with a mobile service excepl in New Romney, where a distribulion centre sttll exis15 open on Tuesday eveninbis. The generosity and kindness of people in our coinmunity churches, schools, local organisationslbusinesses, the Feneral public and supermarket.% kcep the Food Warehouse stocked with su￿1Clent supplies to meei foodbaiik and Panlry needs and also supply the Rainbow Centre's services, including Foodstop, Hoineless Support Service and Winter Shelter. Last year. donations tolalled 47425 kg, with significant contributions from our local supennark¢t's food drives Asda 1038 kg,- Tesco 3663kg' Wailrose 1039kbJ' and Sainsbury West Park Fann 1659 kg and Ihe harvest period in whicli schools, churches and IoLal business Inake signilicant donations. Our teani of volunteers Inade supcnnarkel food drives possible and a IiubyL success. Shepway foodbank fulfilled 1290 food vouchers, with 350/0 being firsl-liine referrals lo the Foodbank. priinarily siiigle PLople. We led 2983 people, a dccrease of 150/0 from 2022, Inaiiily due 10 Ihe Kainbow Cenlre's Pantry olyering and provision Iroin other aLJenLies. Low income was the inaiii reason for individuals & familiLs needing to aLcess our Foodbank. The foodbank offers not just food bul other essential wrap-around support. 11 refers clienls lo othcr Rainbow services and exlLrnal agiencies for assislance 10 einpower Ihein to bjet back on their feel and becoine less dependenl on eincrgyency food parcels. In 2023, we increased this additional support and introduced a financial inLlusion project, a partnership project with Citizens Advice Shepway lo help people with budbpelinLI, managving debi, etc. Food Pantry The Hythe Panlry is part of the Your Local Pantry network, with IO0+ pantries throughout Ihe UK. It aims lo capture people before Ih¢y reach a crisis poini and require access to the Foodbank. It is also the most nalural transltion from using Ihe Foodbank lo the Pantry, bridging the gap between commercial superniarkels and the Foodbank. To access the service, people self-refer and apply online to become members. Upon approval, meinbers pay a small weekly fee and receive approxiinately £30 of shopping, including ambienl, frozen, and fresh produce. The H￿he Pantry based at the Catholic Church in Hythe, which we opened in October 2022, has grown lo be welcoming commuiiity space where member5 can sil, have a cup of lea or coffee. talk with volunteers and get the help and support they need lo access oiher services and move on. The Pantry opens twice a week, and on a typical visit, memburs cali engJage with supporting agyencies such as a Moncy Adviser, NHS One You, Citizen Advice Shepway, or RSPCA or have their blood pressure tak¢n, swap clothes and books. Since opening, the Hythe Pantry has seen over 250 members pass through its doors, with 134 members no longer needing the service. In addition 10 the H￿he Pantry, in October 2023, we launched a UK-first-of-its-kind Mobile Food Services van. The service simultaneously operates as a travelling Foodbank and Pantry, visiting Lydd, Hawkinge, Harbour Community Church, and the Folkestone Academy Tun)er Free School on a weekly rota. Our processes for referrin8 to and accessing both the food bank and pantry have not changed. Page 4 Folkestone Rainbow Centre Trustees, Report The Mobile Pantry supported 71 members, with a total household size of ?27 (123 adults and 104 children). Operating in 4 locations during the last quarter of 2023 (and another in early 2024) Ineani Inore people in our communTty had greater access lo food than ever before. Many foodbank service users are transferring to ihe Mobile Pantry and seeing a Iremendous change in their ability to budget their money. Foodstop Foodstop continues as an outreach service run by a dedicated team of volunleers. Last year, the service disiribuled 3384 sandwich packs, alongside cloihing, sleeping bags, toiletries, and pei food, kindly donated by Ihe general public and local businesses. The number of clients attending each evening conlinues to vary, bul on average, 24 people are served per session, In the lasl year, we have seen new providers in the area, and we will review their iinpacl on our service in due course. Folkestone Churches Winter Sheller (FCWS) Again, in partnership with Churches Together Folkestone, we provided a 8afe place lo sleep for local rou&)h sleepers during Ihc 20?3124 winter months, offerinbj a slaiiL shelier as we did in Ihe last Ihree years. We were fortunate lo secure mulii-year lunding, which helped us extend to the end of March. l-he grant also allowed us io recruit a full-liine. all-year-round Winter Shelter Coordinalor, wilh the role transitioning inio tenancy sustainment after the wintcr shelter season. As in previous years, we block-booked Ihirteen self-conlained rooms in a local B&B from l Deceinber 2023 to 31 March 2024 and served 26 clienls oul of a possible 47 referred to it. Thi5 year, the demographics and diversity ranges were broader than last year; we Saw employed clients. Inore clients from eihnic Ininority groups, and a rise in Ilie complexity of the needs of people seeking Shelter. This year, we offered more wrap-around support to clients, including a Rainbow breakfasilsocial club during weekdays and evening meals. which helped increase engagement and 'inove on oulcoines. We also supported guests in accessing the agency Services offered al the Cenlre and referred some to appropriale support agencies, including the Drug & Alcohol Forward Trusl and ihe Haven. We found housing solutions for twelve cltenls (3 were housed before the Shelter opened and two by Porchlight); six failed to engJagie, two were evicted, and three were accommodaled when insufficient lime was left for a successful move-on. This left Ihree for a few week5 in the B&B while we continued lo support thein with iheir 'Inove-on' plans. The challen&>e of finding suitable Imove-on Opiions persisled this year, but we continue lo be nimble and find ways to help our clients noi return to the streets. Family Contact The Family Contaci Centre 15 a crucial service ihal provides a safe and welcoming space where children froin separated faini lies can have supervised visits with one or both parenls and occasionally with other relatives. li is a biweekly service, mostly volunteer-run. catering to children aged O lo 17. Referrals to the centre are received froin various sources, including social services, solicilors, or self-referral froin non-resident parents. We inlroduced a registralion fee of £30 in 2022, and last year, we also introduced a £5 session fee to reduce no-shows, which is working well. In 2023. w¢ supported 14 families and 18 children. We are almost completing the requirement for our accreditation wilh the National Association of Child Contact Centres accredilation and were pleased that the assessors recognised the excellent practices we already had in place. We look fonvard lo being fonnally accredited in 2024. Page 5 Folkestone Rainbow Centre Trustees, Report Money Matter5 Project Each year, professionally prepared money advice plans (MAPS) and ongoing mentoring from trained volunteers are provided to those facing unmanagyeable debt. Unfortunately, Ihe demand for the service, fuelled by the cosl of livingy and unaffordable rents. keeps rising. The financial advi50r's assessment, advice, and volunteer mentor support enable clien15 to manage their money, deal with debts. and secure other eniiilement5, iinproving iheir overall quality of life. Since July, the Trussell Trusi has invested in the service to increase our money advisory capacity and extend it to Foodbank clients. Durinb Ihe year, the reg)ular Money Matters servicc assisted and advised 51 clients whose debt levels ranged from £l,-$00 to £45,000. With Trussell Trust funding, the debi management and income Inaximisation service has been extended to all clienls using Ihe foodbank and Paiitry services. The Money Adviser visits each location on a rola basis, helping ensure geogyraphical covera¥c across the dislrict. So far, 24 foudbank Clien15 have beeii 5UPPOrted, Inakinb linanci411 gFains of £23,865, which is a good start. five people no longer iieed the Foodbank, and the aim is to continue proinolinb the s¢rvic¢ to those who need it. FIIYANCIAL REVIEW Reserves Policy li has been Ihe policy of the charity to keep ca8h as8ets of a miniimuni of three months runnin&7 Costs with a iarg>et of about six Inonths. Trusle¢5 clarified in 11)e course of 11)e year that Ihis miniiiilllii and largel applied separately to the charity's restricted and unrestricted reserves. As al 31 December 2023 cash al bank and in hand was £986,366, of which £725.190 related to restricted tunds and £ 100,000 rLlaled lo desi&?nated funds. After allowing for liabilities of £20,220 Ihe remaining balance slands at £140,956 which represents about four months of lolal monthly expenditure and around seven Inonths expenditure from unrestricted funds. TRUSTEE APPOINTMENTS There were no new Trustee appointments in 2023. FUTURE DEVELOPMENTS With the District Methodist Church, we coiitinue to plan for a coinbined cenlre on the site of the old Methodist Cliurch in Sai)dgale Road. If tliis project Lomes lo fruition, we will ulilise the legacy funding bequeathed to provide emergTeiicy accoinmodalioii Ihroughoul the year and have a cominunity café. food bank and Pantry. We would move our o￿lce5 into the buildingJ at the saine tiine. In addilion. there are plans lo begin the provision of supported housing as a step forward from emergency accoinmodation. We anticipate Ihal cooking classes and a gardening club will slart up in the near future. Approved by the Board and signed on its behalf by: Dr P Le Feuvre Chair of Trustee Dale...... 2lr Page 6 Folkestone Rainbow Centre Statement of Trustees, Responsibilities The trustees (who are also Ihe directors of Folkestone Rainbow Centre for the purpose5 of company law) are responsible for preparing the trusiees, report and the financial stal¢ments in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdoin Generally Accepted Accounting Practice), including FRS 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Compai)ies Act 2006 relatin&Tr lo small companies. Company law requires ihe Iru5tees lo prepare financial statements for each financial year. Under company law the trustees musl not approve the financial statements unless they are satisfied Ihal they give a true and fair view of Ihe slat¢ of affairs of the charilable compaiiy and of the incoining resources and application of resources, including its income and expendiiur¢, of the charitable company for ihal period. In preparinb) thes¢ financial statemenls. the trustees are required lo: select suitable accounting policies and apply them consistently. observe the Inethods and principles in Ihe Charities SORP: niake judgements and esliinales Ihal are reasonable and prudenl.. slate whether applicable accounting standards, coinprising FRS 102 have been followed, subject lo any Inalerial departures disclosed and explaiiied in the financial stateinents; and prepare the financial slalemenis on the goin&p concern basis unless it is inappropriate 10 presuine thai Ihe charitable ¢oinpany will conlinue in business. The trustees are responsible for keeping proper accounling records ihai can disclose wilh reasonable accuracy at any time the financial position of the charilable company and enable thei)I to ensure Ihal the finaT)¢ial slalen)cnts coinply with the Companies Aci 2006. 1'he}' are also responsible for safegyuarding the assets of the charitable coinpany and hence for lakingy reasonable steps for the prevenlion and deleclion of fraud and other irregularities. The trustees are responsible for the Inainlenance and intebyrity of the corporate aiid financial inforniation included on Ihe charitable coi)Ipany's web51te. Legislalion governing the preparation aiid disseinination of financial siaiements may differ from legislation in other jurisdictions. Approved by the trustee5 of ihe charity on and signed on lis behalf by.. DrPLeFeu Truslee Page 7 Folkestone Rainbow Centre Independent Examiner's Report to the trustees of Folkestone Rainbow Centre {'the Company,) report lo the charity trustees on my exainination of the account5 of the Company for the year ended 31 December 2023. Responsibililies and basis of report As the charity's truslees of the Coinpany (and also its directors for Ihe purposes of Company law) you are responsible for the preparation of ihe accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself thal the accounts of the Company are nol required to be audited under Part 16 of the 2006 Act and are eligiible for independent exainination, I report in respect of Iny exainination of your charity's accounts as carried out under seciion 145 01. the Charities Act 2011 {'the 2011 Act,). In carrying out my cxaminalion I have followed the Dircclions given by the Charity Coininission under section 145(fj)(b) ol. the 2011 Act. Independenl examiner's statement Since the Coinpany's gross incoine exceeded £250,000 your ex¢iminer Inu81 be a meinber of a body lisied in seciion 145 of the 201 l Acl. I confirm thai l am qualified io uiiden¢ike IhL cxamination because l ain a Ineniber of The Association of Chartered Certified Accountants, which is one of the listed bodies. I have compleied my examination. I confirni (hat no matters have come to Iny allention in conneclioii with the exaininalion giving Ine cause lo believe.. accounlinbF records were not kept in respect of Folkeslone Rainbow Centre as required by section 386 of the 2006 Acl,. or 2. the accounls do not accord with those records. or 3, the accoun15 do noi coinply with the aLLounling requircilienls of section 396 of Ilie ?006 Act other than any requireineni that tIiL' accounts give a 'lruc Lind fair view, which is not a Inatler coiisidered as part of an indcpendent examination; or 4. Ihe accounts have not been prepared in accordance with the methods and principles of the Stateinenl of Recommended Practice for accounting and reporting by charities [applicable lo charities preparing their accoun15 in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic ot. Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with Ihe exainination to which attention should be drawn in this report in order to ¢nable a proper understandingy of the accounts to be reached. Mr Dan Payne FCCA Berestords Chartered Certified Accountants 1-2 Rhodium Poinl Spindle Close Hawkinge Folk¢slone Kent CT18 7TQ Dale:.. (6.[1.[? Page 8 Folkestone Rainbow Centre Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2023 Unrestricted Restri¢led Note Income and Endowments from: Donations arid legacies Charitable aclivities Oiher Irading aclivilies Investmenl income Other income 105,469 56.534 263,754 941 162.003 263.754 26.894 55,046 23,000 25,953 55.046 23,000 Total Income 209,468 321 ?29 530,697 Expenditure on: Charitabll iiclivili¢s (260,807) {247.580) (508.387) Tolal Expenditure (?60,807) (247.580) (508,387) Net (expendilure)/income (51,339) 73,649 22,310 Nel moveilleiil in funds 151,339) 73.649 22,310 Total funds brought foTward 634,758 684.435 1,319,193 Tolal funds carried forward 20 583,419 758,084 1,341.503 The notes on pages 12 10 26 form an integral part of these financial slatements. Page 9 Folkestone Rainbow Centre Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Aecount and Statement of Total Recognised Gains and Losses) 22A eount5 Total 2022 Unrestricted Restricted Note Income and Endowments from: Donation5 and legacies Charitable activiiies Other trading activities Investinent income Oiher income 269,497 200,791 120,407 470,288 120,407 3,122 41,588 18,000 3,122 41.585 18,000 Total Income 33?,204 321,201 653,405 Expenditure on: Charilable acliviti¢s (259,844) (158,838) (418,682) Total Expenditure (259,844) (158.838) (418,682 Net incoine 72,360 16?,363 234,723 Net Inovemenl in funds 72,360 162.363 234,723 Total funds brou&Jht forward Total funds carried lorward 562,J99 522.073 1,084.472 20 634,759 684,436 1,319,19. The notes on pages 12 10 26 forni an integral part of these financial statements. Page 10 Folkestone Rainbow Centre (Registration number: 04318070) Balance Sheet as at 31 December 2023 2023 2022 Note Fbxed assets Tangible asseis Invesiments 377,955 345.?32 16 377,956 345,233 Currenl assets Debtors Cash at bank and in hand 18,542 986,366 94,298 915,735 1,004.908 .010.033 Creditors: Amounts falling due wilhln one year Net current assets (41,361) (36,071) 963,547 973,962 Nel assets 1,341,503 1.319.195 Funds of the charity: Reytricted income funds Resiricted funds 758,084 684,436 Unrestricled income funds Unreslricted funds 583,419 634,759 Total funds 20 1,341,503 1.319.195 For the finaiicial year ending> 31 December 2023 the charity was entitled 10 exemption from audit under section 477 of the Companies Acl 2006 relating to small companies. Directors, responsibilities.. The Ineinbers have not required the charity to obtain an audit of its accounts for the year in queslion in accordance with sectioii 476; and The directors acknowledge their responsibiliiies for complying with the requireinen15 of the Act with respect lo accounlingb records and the preparation of accounts. These financial siatements have been prepared in accordance wilh the special provisions relating lo companies subjecl lo the small companies regime within Part 15 of ihe Companies Aci 2006. ial statements on pages 9 to 26 were approved by the Iruslees, and authorised for issue on and signed on their b¢half by: Dr P Le Feuvre Truslee The notes on pages 12 to 26 form an integral part of these financial slatements. Page 11 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 Charity st8tus The charity is a private company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribule an amounl nol exc¢eding £1 towards ihe asseis of the charity in the event of liquidation. Th¢ address of its regFlStered office is.. Comerstone 69 Sandgyate Road Folkeslone Kei)I CT20 2AF 2 Accounting policies Summary of sigiiificant aeeounliDg policies and key accounting estimgtes l-h¢ principal aLcounting policies applied in ihe preparation of Ihese financial slalemenls are set out below. Th¢se poliLies have been consislenily applied lo all the years preseiited, unle55 Otherwise slaled. Statement of compliance 'he fiiiancial stateinenls have been prepared in accordance with Accounling and Reporting by Charities: Siatemeiit of Recommended Praciice (applicable to charities preparinby their accounts in aLcordance with the rinanLial Reporting Sidndard applicablc in the IIK and Rcpubl ic of Ircland (FR% 102)) (issued ii) Oclober 2019) (Charitie8 SORP (FRS 102)), IhL l-. inancial Reporting Staiidard applicable in th¢ UK and Republic of Ireland (rRS 102) and Ihi Comp Ihal aggregale similar costs lo tlial calegyory. Wliere costs caniiol be direcily atlributcd lo particular headinbys they have been allocaled on a basis consisienl wilh the use of resources. wilh central staff costs allocated on the basi5 of time spent. and depreciation charges allocated on the portion of the asset's use. other support costs are allocated based on the spread of slat'f costs. Churliable acrlvliles Charilable expendilure comprises those costs incurred by the charily in the delivery of its aciivitie5 and 5ervice5 for ils beneficiaries. It includes both costs that can be allocated directly to such acliviiies and those costs of an indirect nature necessary to support thein. Support costs Support cosls include central functions and have been allocaled lo aclivity cost categjories on a basis consistenl with the use of resources. lor example, alloLaling property Costs by floor areas, or per capila. staff costs by the lime speni and other costs by iheir usage. Governance eosls l-hese include the costs attributable to the cliarity'5 coinpliancc wilh consiilutional and statutory requiremenls, including audil. slralegic managenient and trustees, Ineeliiigs and reiinbursed cxpenses. Taxation The charity is considered to pass the lests set out in Paragraph I Schedule 6 of the Finance Aci 2010 and Iherefore it meels the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of ihe Corporation Tax ACÉ 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exteni that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £50.00 or more are initially recorded at cost, less any subsequenl accumulated depreciation and subsequent accumulated impairment losses. Page 13 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 Depreciation and amorlisation Depreciation is provided on langible fixed assets so as to write off ihe cost or valuation, less any estiinated residual value, over Iheir expected usetul econoniic life as follows.. Asset cl8SS Land and buildings Furniture and equipment Motor vehicles Coinputer equipinent Depreciation method and rale Straigyht line over the period of Ihe lease. 250/0 on reducing balance. 25 /0 oli reducing balance. 3 years straiLht line Business eombinalions The company and its subsidiary are a sillall group and as a result do nol have to prepare consolidated accounts. Fixed asset inveslmenls Fixed asset investmenls, oiher than progranime r¢lated inveslinenls, are included al Inarket value al ihe balance sheet dale. Realised gain5 and losses 01) investments are calculated as tlic difyerence between sales proceeds and their Inarket value at IhL' Start ol. the year, or their sub5equenl cosl, and dre charbped or crLditL'd lo the Sialeineiil of Financial Activities in the period of disposal. Unrealised gains and losses r¢present the Inovemenl in market values during Ihe year and are crediled or charb?ed to the Slalenienl of FIn￿lncial Activilies based on the Inarkel V¢iliie ai the >'ear end. Trade debtors 1.rade debtors are ainounts due from cusioiners for services perfonned in Ihe ordiiiary course of busines5. Trade debtors are recognised initially at the Iransoclion price. They are subsequently measured al amortised cost using the efleclive inleresl method, les8 provision for iinpairmeni. A provision for thc iinpainiienl of trade debtors is established when there is objective evidence that the charity will not be able to collect all amoun15 due according to the original ternis of the receivables. Cash and cash equiTralents Cash dnd cash equivalenls ci)mprise cash on hand and call deposits. and other 5hort-term highly liquid inveslinenls that are readily convertible lo a known amount of cash and are subjecl lo an insigynificant risk of change in value. Trade creditor5 Trade creditors are obligations lo pay for goods or services that hav¢ been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an uncondilional right, at the ¢nd of the reporting period. to defcr settleinent of ihe creditor for ai least twelve months after the reporting dale. If ihere is an unconditional right lo defer settlement for at least twelve months after the reporting date, they are presented as non-currenl liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Page 14 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 Fund structure Unrestricted incoine funds are general funds that are available for use at the trustees, discr¢lion in furtherance of the objectives of the charity. Designated funds are unrestricled funds sel aside for specific purposes al the discretion of the trustees. Reslricted income funds are those donaied for use in a particular area or for specific purposes, the use of which is reslricted to thal area or purpose. Financial instruments Reeogiiliioii aiid niea.Furenieiil The trust only has financial assets and financial liabilities of a kind that qualify as basic financial insiruments. Basic financial instruments are initially recognised al transaciion value and subsequenily ineasured at their seiileinent value wiih Ihe cxLeption of bdiik loans which are subsequently Ineasured ai aTllOrtised cosl usin¥ Ihe effective interest meihod. liive.slmenls Inveslinenls in subsidiaries and associates are measured ai cosl le55 impairnient. For inveslmenls in subsidiaries acquired for consideralion includingi the issue of share5 qualifyinb for Tl)erb)¢r relief. cosl is Ineasured by reference lo Ihe noininal value of the shares issued plus lair value of oiher consideration. Any preinium is ignored. 3 Income from donations and legacies Unreslrieted funds Total 2023 Total 2022 Restrleted Donalions and legacies,. Appeals and donations Gift aid lax reclaimed Winier Sheller donations Grants, including capital grants; Grants receivable Other incoine 91,014 4,186 45,327 1.799 9,408 136.341 5,985 9,408 321,513 7,221 5,831 2,956 7.313 2,956 7,313 134.503 1,220 105,469 56,534 162,003 470,288 4 Ineome from charitable activities Total 2023 Total 2022 Restricted Foodstop The Pantry Folkestone Churches Winter Shelter Food Bank Money Mallers 6,382 14,880 142,358 95,134 5,000 6,382 14,880 142,358 95,134 5.000 6.358 99,649 14,400 263,754 263,754 120,407 Page 15 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 5 Income from other trading activities Unreslrieled funds Total 2023 Total 2022 Restricted Events income. Fundraisinbi evenls 25,953 941 26,894 3.122 25,953 941 26,894 3,122 6 Investment ineome Unreslricted fund5 Total 2023 Total 2022 Interest receivable and similar income: Interesl receivable on bank deposits Income froin rents 17,288 37,758 17,288 37,758 4,028 37,560 55,046 55.046 41,588 7 Other income Unrestricted funds Tutal 2023 Total 2022 Income froin Irading) subsidiary 23,000 23,000 18,000 8 Expenditure on charitable activities Unrestricted funds Total 2023 Tot¥l 2022 Restricted Note General Foodstop Folkeslone Churches Winter Shelter Homeless Support Service Contact Food Bank Money Matters Allocated support costs 809 809 4,790 60 4,278 4.790 103,853 103,853 85,500 131,116 2,594 109,296 3,921 56,010 2,594 68.871 42.819 68,871 42,819 121,652 4.636 24,047 3,200 145,699 7,836 151,890 7,727 Governance costs 260,807 247,580 508.387 418.682 Page 16 Folkestone Rainboiv Centre Notes to the Financial Statements for the Year Ended 31 December 2023 9 Analysis o(governanee and support costs Support costs allocaled to eharitable activilies Other support costs Tntal 2023 Total 2022 Foodstop Folkeslone Churches Winier Shelier Contact Food Bank Fixed assets fund Money Matters Wages StatYNIC Staff pensions R¢¢ruilinenl and employment costs Raies Light and heal Insurance Repairs Telephone col￿puter expenses Prinlin&, poslab>e and stationery Sundry expenses Cleaning Travelling Legal and professional fees Bank charges Depreciation Loss on disposal of fixed assets (877) (877) 208 6,003 1.250 3.749 3,090 1,500 19.900 3.090 1,93? 60,267 ?,392 2,263 119 1.018 4.241 6,504 (631) 363 6,243 1,948 1,313 11,850 ,500 19,()00 3,090 1,932 60.267 2,392 2.263 63,592 2,820 2,408 617 1,018 4.241 6,504 1631) 363 6,243 1,948 1.313 11.850 365 8,809 5,451 4,440 7.392 2,488 698 4,163 9,799 115 10,856 64 8,797 4,716 13,600 13.600 64 8,598 8,598 145,699 145.699 151,890 Page 17 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 Governance eosts Unreslricted funds Total 2023 Total 2022 Re5tri¢led Independent exaiiiiner fees Examination of Ihe financial slaleinents 2,220 2,416 2,220 5,616 2,220 5,507 Other govern¢ince costs 3.200 4.636 3,200 7.836 7,727 l O Net Ineomingloutgoing resources Net incoining resources for Ihe year include.. 2023 2022 (Profil)Iloss on disposal of tangible fixed assets Depreciation of fixed assets (2,877) 28,110 4.716 13,723 l Trustee5 remuneration aDd expenses No Irustees have received any reinuneration froin ihe charity durinbi Ihe year. No Irustees have received any reiinbursed expenses or any other benefits froin the charity durinby the year. 12 Staff eosts The a￿Vregate payroll cos15 were as follows: 2023 2022 Sliff costs during the year Ivere: Wages and salarie5 Social security Costs Pension costs 220,052 11,995 5,409 200,563 11,023 4,410 237,456 ?15,996 The monthly average number of persons (including senior manageinent team) employed by the charity during Ihe year was as follows.. Page 18 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 2023 2022 Service delivery Support Winter Shelier Food Bank 14 14 The average number of employees during 2023 includes 6 full lime staff and the remainder is made up of part lime staff. The average full tiine equivalent for the year was l 0.9. No employee received emoluments of more than £60,000 during the year. 13 Independent examiner's remuneration 2023 2022 Examinalion of the financial sialeinenls 2,220 2,220 14 TAxAtion The company is a regislered charity and is exempi from corporalion lax on lis charitable activiiies. Page 19 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 15 Tangible fixed assels Land and buildings Furniture and equipment Computer equipment Motor vehicles Total Cost At l January 2023 Addilions Disposals 374,604 54.312 3.781 27,461 56,769 (3,500) 18,317 906 474,694 61,456 (3,500) Ai 31 December 2023 374.604 58,093 80,730 19,223 532,650 Depreciation Al l January 2023 Charge for the year Eliiiiinaled on disposals 52,364 4,028 47,352 2.682 23,640 14.992 6,106 6,408 129,462 28,110 (2,877} (2,877) At 31 Deceinber 2023 56,392 50,034 35.755 12,514 154,69.5 Net book value Ai 31 December 2023 318,212 8,059 44.975 6,709 377,955 Ai 31 December 2022 322,240 6,960 3,821 12,211 345.232 Included within the nel book value of lai)d and buildings above 18 £Nil (2022 £Nil) in respect of freehold land and bvilding>s and £318,212 (2022 £322,240) in respect of leaseholds. Page 20 Folkestone Rainboiv Centre Notes to the Financial Statements for the Year Ended 31 December 2023 16 Fixed asset investments 2023 2022 Shares in group undertakings and participating interests Shares in group underlakings and parlicipating interesls Subsidiary underlakings Total Cost Ai l January 2023 At 31 December 2023 Net book v8lue Ai 31 Deceinber 2023 Ai 31 Deceinber 2022 Detalls of undertakings Delails of Ihe investments in which the charity holds 200/0 or more of the noininal value of any class of share capital are as tollows.. Country of incorporatSon Proportion of votlng righ15 Principal and shares held activity Undertaking Holding 2023 2022 Subsidiary undertakings FRC Cominercial Enterprises Lld England and Wales Ordinary I OOO/o I OOO/o Charity shop Subsidiaries The loss for the financial period of FRC Commercial Enterprises Ltd was £5,012 (2022 - £(5.686) and the aggFregale amounl of capital and reserves at the end of the period was £7,049 (2022 - £12,061). Page21 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 17 Debtors 2023 2022 Trade deblors Prepaymenls Accrued income Other debtors 9,220 7,984 17.130 8,968 66,154 2,046 1,338 18,542 94,298 18 Cash and cash equivalenls 2023 2022 Cash on hand Cash at bank 988 985,378 1,056 914,679 986,366 915,735 19 Creditors: amounts f#lling due within one year 2023 2022 Trade creditors oiher laxalion and social security Oiher creditors Accruals 18,371 5,403 9,389 8,198 12,717 4.846 8,174 10,334 41,361 36,071 Page 22 O f- C ¢> 0¢ ¢> ery o o ¢¥ t> * ¥C en C4 rry - Q rry o oc Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 The specific purposes for which the funds are to be applied are as follows.. The General fund is used for providing Ihe Homeless Support Service and Conlact as well as ihe administration of the charity, Foodsiop, Folkeslone Churches Winter Shelter and Food Bank. The designated fund is used for future property repairs and refurbishments or for future property purchases. The Foodstop fund is used 10 deliver fresh sandwiches and soup to the homeless and hungry. Income is derived from donaiions aiid grants. The folkestone Churches Winter Shelter fund is used lo support the homeless during Ihe Inonths of December to February. Incoine is derived from donations and granls. The Food Bank fund is used for the provision of a food bank in the district. Incoine 15 derived from donations and grants. The fixed asset fund includes a ¥rant which was received for the purchase of computer equipinenl. The building fund includes a legacy which was received for future property purchases. The Money Matters fund is used to provide financial advice lo Food Bank clients. 21 Analysis of net assets between funds Total funds at 31 December 2023 Unrestrieted funds General D¢signa¢ed Restricted funds Tang)ible fixed assets Fixed asset investments Debtors Cash and short-lerni deposits Current liabililies 326,069 51,886 377,955 16,391 161,176 (20,219 2,151 725,190 (21,142) 18,542 986.366 {41,361) i 00,000 Total nel assets 483,418 100,000 758,085 1,341,503 Page 25 Folkestone Rainbow Centre Notes to the Financial Statements for the Year Ended 31 December 2023 2021 Accounts Total funds at 31 December 2022 Unrestricted funds General Designated Restricted funds 'angible fixed assets Fixed asset investments Debtors Cash and short-lemi deposits Curreni liabililies 333,630 11.602 345.232 25.779 199,394 {24,044) 68,519 616,341 {12,027) 94,298 915,735 (36,071) i 00,000 Total nel assels 534,760 i 00,000 684,435 1.319,195 22 Related party transactions Duriiig Ihe year Ihe charity made the following related party Iransaciions.. FRC ComniLrcial F.nterprises Ltd 'RC Cui)Iincrci