REGISTERED COMPANY NL MBER.. 03￿167] (England and Wales) REGISTERED CHARITY ￿UmBER. 1101885 REPORT OF THE TRUSTEES AND UNAUDITED FINAYCIAL STATEME.ryTS FOR THE YEAR ENDED 31ST DECEMBER 2020 FOR FOOD ETHICS COUNCIL A COMPANY LIMITED BY GLARA14TEE Chariot House Limited Chanered Accounwi 44 Grand Parnde Brighton East Su55ex FOOD ETHICS COUNCIL CONTETr4TS OF THE FINANCIAL STATEMEWTS FOR THE YEAR ENDED 31ST DECEMBER 2020 Page Report of tbe Trustees Ind¢p¢ndent Examiner's Report Statement of Fin8ncial Activities Balance Sheet 10 to 11 Notes to the Finanf ial Statemtttts 12 to 18 FOOD ETHICS COUNCIL REPORT OF THE TRUSTEES FOR THF YEAR ENDED 31ST DECEMBER 2020 The mistees who are also direaors of the charity for the PUryKJges of the Companies Act ?006. present their report with the financial staiements of the charl￿. for the vear ended 31 si December 2020. The twstees have adopted the provisions of Accounting and Reporting b). Chariiies.. Stsiement of Recommended Praciice applicable to charities preparing rheir accounts in accordance with the Financial Re￿nIng Standard applicabl¢ in the UK and Republic of Ireland (FRS 10?) {effeciive l January. ?019). OWECTIVES AND ACTIVITIES Objeetiies and a&ms Aboul the Food Ethics Council The Food Ethics Council beli¢ves ihai we have a better. fairer f(MJl system.. where everyone eats well and global hunger is a distant memory; where farnJ¢rs and f(KKJ producer5 make a decent livin& anllnals are treaied humanely. and the environment is respected. Who we are We are a registered eharity and our work is noi for profit. We are noi affilawed to ally w)litical pany or r¢ligious organisation. Our Council memlxrs are ap￿lAted as individuals. They bring a broad rdnge of expertise to our work. from acad¢mic research through to prnciical knowledge of fimxl. famiin& busines5 and ￿hliCY. Our metnbers lead our work in a volunrary capa¢ity' and our sMff sup￿rtS them through research. analysis and advocacy. What w¢ do We work as an independent think-and40 tank. wh05¢ pufFX)se is lo bring ¢thics to the ¢entre of the food system. We bring expert15e iogether - providing ethic￿ i(K)Is and space for hone5L meaningful dialogue. We challcnge the status quo and accepted ￿ayS of thinking. We also promote ethical approaches and considered solucions. This is all in linc with our tnission.. io acceleraie the shift to fair and resilieni food sysiems that respeci people. animals and the planet. We provid¢ a safe spac¢ for ihose in the f(K)d and farniing sector ￿'anting to be part of that shift. W¢ help creat¢ an enabline environment. overcome barriers and design fair way% to move fon¥8rd together. Our Objects l. To promote educaiion for the public b¢nefii in is5u¢s of ethics. economic and stKial studies. poliiics. science and public tx)licy, as thew relate to f¢N)d and agriculwre. ? To promote for the public benefit research in any of the above fields of educ*ion and 10 publish the useful results of Ihat research. What we ￿Ork o Our work spans ethical c(*ncerns in fwd and farniing. from animal welfare to social justice. from healih & nutrition to environmental Concerns (including the climate and biodiversty crises). Our work 15 UK-f￿￿55C(L but withill a globally ethical Iramework. How we are funded The Food Ethics Council is funded by a mixture of grant fundiE]& selertive consultancy. Business Forum membet5hip and individual donations. The directsyrs only accep( fimds will not compromise the charity's independence. Public bentfit In shaping our objectives and planning our acÈivities for the year. the Trusw have given consideraiion to the duties sei out in Seclion 1715} of the Charities Aci 2011 to hav¢ due regard to public benefii. in particular. the Tnjstees have cortsideTed how th¢ planncd activiti¢s will contribute to the overall aims and objectives that they have seL The Tnjsiees believe thai the paragraphs atK>ve. and those in the section 'Achievemeni and Perforniance,. convey in detail the benefits the Charity provides to the public. Page I FOOD ETHICS COUNCI REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31ST DECEMBER 2020 ACHIEVEMENT AND PERFORMANCE Overview ofthe ye8r A turbulent vear for all 20?0 was a year like no other in our ¢olle¢tive living memory. The year began with hope - that we were entering a new decade of trdnsfom*ion, towards achieving the Sustsinable Developmnent Goals by 2030. It soon became a vear of ¢ontradi¢tions'. a year of radical change whilsl manv were cooped up and unable to do much #t all. a year of sta)'hng apart yet coming tO8ether. In late 2019. we decided - with our #F(M)Otalks pJrtsher5- ￿ make our 2020 thelne 'We are all ernergency re5pond¢nis now,. Little did we reali5e how api theme would be. li was originally intended to empha5ise the importanc¢ of coming together to address the multiple emergenci¢s we fxe - including the clilnate. biodiversity and obesity Crises. The COVID-19 pandemic. and the ensuing global public health emergencv and economic decline. highlighted and exacerbated existing inequalities and injustices. Fo(Ki and fam)in? seclors worked hard to keep supplies going. bur some parts were shut down for much of the year. with f¢Mx15ervice and h05Pitality being panicularly hard hil. In the UK. Ihere as huge uncertainty over what would hapw to deals after the tTrnsition periiKI ￿)$1-BrexlL This ha5 Tnade li a turbulent year for everj'one. Hope IN adver51ty Hoiv¢vcr. the pasi vear has seen imm¢nse suptrfyrt for lool f(*)d and local pn)ducer5. a 5urg¢ in mutual aid efforts and collective care. we've seen consisiently are efforts to ideniifv. FM)Ister and build more resilient fo￿] sy5tcrns. ones in ￿h￿ch food citizens are empowered to sh4)e the food s*stems want and need ensure evervone is fed and look after one anoth¢r. The F identified kei Shifts needed in our lanouage and inierveniions ￿ build comlnunity resilience. and are working with others lo bring thes¢ to lite. W¢ will build on ihis in ?0• l. Thi5 is a iwo-N¢ar projeci. kindl￿ funded by Joseph Rowntree Chariiable Trust and the A Team Foundation. We arc working to address injustices tbe food sistern A ke% featllr¢ of ?O?O was ihe Black l.ives Marrer uprising. M'hich has rightli raised the need io urgently addres% racial injustices. These manifest themselves in multiple wa!"s in ihe fiK)d slsiem. from the Struggle of Black people to access land to tarn). to how household twj in5ecurii) disproportionaiel! atlecis BAME households. We - like Liiher5 in rhe lood NGI) sector - take ihese issues very seriousl!". W'e acknowledge Ihai we hav¢ noi done enough in the pasi dnd are commiiicd 10 doinL beller. We put oui a ￿ateMent. ￿hich is available on our w¢bsiie here. We also put a spotliiTht on racial inju%tic¢ as part of our'on the road to fo(xl justice, publication. where we refleeted l O years on from our original Food and Fairne55 IDquiTr and ￿￿trOdUCed a Strengihened faÈrness fraMe￿Ork to help others na>ioate injustices relating to food. We gre nouri5hiNg a space for rhangem8k"eTS i'la #FoodTalks Responding to the pandemi¢. quickli changed our usual quarterl). ]n-￿￿￿n event serie5 10 an onliRc #FoodTalks communitt. thar w'e brouLyht iogether rcoularll ihrouehour ihe lear to provide a space for those ￿lIh an active inierest in lood and farn)ing to come iooether. This worked %er% i%ell. enua2ing over 7(M) panicipants o*er a serie5 of six online events exploring how. ￿e can besi address the multiple emergencies facing our f(K)d sN51ems. Whi151 our main focus w'as uk roud sN'Stems. the switch io online allom'ed us to ￿a¢h an int¢rnaiional audience. with people joining from as far afield as ihe Uniied Siaies. Pak"isran. Smeden and Ghana. We ￿ere inspired bj an incredible sei of speakers - from commllnilw fi)od organisliiions. academka. NGO& lood businesses and Tnore. Feedback from participants wa5 some of Ihe besi ￿e'v¢ ever had - people appreeiaied Ihe OPkXlrtunit% to be inspired. share insights on the rapÈdly-¢han8in8 siiuaiion and lake olimmers of hope amidst the gliM)m. We have also shared recordings of these online. so that thousands more Can li51en back i(K*. We are Starting 4 new project working with livestock famer5 BuildingF on work have done in the past and on pre¥ious scoping work. we secured funding from Esmée Fairbaim Foundation for a ihree-year projeci thai started in I￿e ?O?O. We ￿]]1 b¢ ￿'orkIng with dair). famiers to help Ihe tran5iiion io susiainable fam)ing. We have recruiied a new. pan-iime project manager to lead this work. Wc lotsk forward to the projeci iaking off more publicl%" in ?0? l. We are nurturing a space for busine55 leaders in our Business Forum community We hilV¢ conLinued 10 provide a safe spac¢ for leaders from fLMyJ and farming businesses to ¢ome iogether and leam from expert speak¢rs and peers. We held No in-pet50n Business FoThm dinner meetin¥s (before 'lockdown'l on veganism and on regenerative agriculiure. Durin£ the pandemic. w'e swiiched online and have held sessions on 'embracinbJ ethtcs ai a lime of crisis,. 'when is British r¢all% besi. 'ie¢ession bites, and 'meat and daiTh itnports,. "fhese 'ere well attended and well receiied. have published non-attribured ￿rlIe-upS from these discussion5. in order rhat others can benefit from these insitshis. We have an exciting progrdmme for ?0? l. including ihe opportunity for more peer-io-peer learning. We are exploring bold polieTr idea5 and ad*ocating for poli￿. change We continue io our innoiative Food Polic! on "Irial serie5. wh¢r¢ ￿e criiically explore bold polic!, ideas ￿1th the help of expen witnesses. a of m¢mbers of the Fo(MJ Erhics Council and a H'ider audience. This )'ear. ￿'e pui 'Univer5al Basic Income, in the dock. w irh ihe jur% finding ihar li would be a rATrwerful t(M)l io addres5 household food In5ecuriti' Iwhilst not beinu a panacea). We are folloH"in£ this up ￿1th a ￿orkshoP in earl) 20? I with interested partEes to dive dee￿r into its poi¢niial io make a difference in the food s1.stem land beyond). We w¢r¢ pleased to receive tunher lundin¥ from Polden Pu¢kham Charitable Foundation in order to coniinue this series into ?O?l and ?0?? Page 3 FOOD ETHICS COUNCIL REPORT OF THE TRUSTEE FOR THF. YEAR ENDF.D 31ST DECEMBER 2020 We have coniinu¢d to do adyocac). worL including joining with oihers io urge the UK Qovemment io prote¢t and further srren£then Standards of environment proie¢iion. anirnal ￿elfare. workers, rights and fiK)d safety. particularl}" i relation to tradt deals b¢in£ ne(totiated p)s¢-Brexit. W'e have M"orked ￿1th a number of allian¢e5 including the UK Food Povety Alliance. Eating Better. Susiain's farmin£ ￿OrkIng group and more- to effed wider change. We have also responded to numerous consultations and polic¥ announ¢ementS. In the firsi pan of the sear. we published a reTrIe￿ of fowl-related promises in pam poliiical manifestos for ihe l)eceinbLr ?019 Gefteral F.leciion. This has enabled u5 to hKghli¥hi KM)siiive shifts in the last few Nears and hom, our i%"ork has contributed to ihat _ but also to seek to hold Ihe LIK Government io accouni on th¢ promises made in the Conservaiive party manifesto. We are bringin% our foryl ethics insight$ to be4r e have w'orked w'ith public dialogue specialists to help with the content and fi￿nIng of the public dialogue serics for the National pl￿d Strdttgy for England. We have also deTrtloped new ioolk including the Fairness Frnmem'ork. Food Ci(iLenship communications toolkii. the f(KKI rM}li￿. baiometer and f￿)d ￿lIcI compass. which w¢ hope etnpowei" oiher organi5aiions io tntortx)raie ethical frameu'orks aTad deci5ion-making inio their 0￿.n work. W¢ int¢nd to further sirengihen these ti)01s and encourage oihers io us¢ these more w"idelK in ?0? l and bel'ond. Through speaking platfomis. in ihe media in blogs. on social media and in meeiings and workshops. ￿.¢ Continue to push for a food 5ySttm (hai is fair and resilieni for people. planet and animals- with ethics ai its centre. Tharkk vou to all those that have 5UPIMlrted u5 We w'ould like to thank everl'one that has been part of our collective mission this year. We panicularl} ￿'an1 to thank our funders for being so supponive in Challenging time5. These include Joseph Rom'ntree Chariiable Trusi. Esniee Fairbaim Foundation. A Team Foundation. Polden Puekham Chariiable Foundaiion and sankalpa. We also wani io thank. the staff ieam. Council rnernbers and all those (h￿ have inieracted with us in ?O?O io help us deliver th¢ ide-ranging impaas thai we have. FINANCIAL REVIEW Finaiici21 position Tlic total nel incofftin¥ resources for the )ear amounred io £i9.747 {?019'. outgoing.. £53.1?81. Nei incomings of £6.899. 1?019.' olltooin£s £? 53018r05e on restrided projects which no*. roial £13.2691?019= £6.3701. There is a ner surplus for the Near or £3? 848 1?019'. net defLCiI £$0.$981 on unrestricced general reserves which now siand ai £39.??1 17019.. £6.373). Reser%'e5 poIi¢!' The Food Ethics Council's ieserve5 polic! is thai the unresiricted reserve level ai the balance Sheet date should nomiall!, be equal to four to six months of the anticipated expendrture from unrestricted funds for the following vear. Unrestricted reserve5 at the end of ?019 did not fall M'ithin the terms of the policN". However. we kept this under close crutin%'. w'ith the 51ronu likelihtKKI of addilional fiJnd5 beinu received in earl). ?O?O. which were confirnied in latc ?019. During ?O?O. ￿'e have built up our reserves and w.e are w'orking ￿1th ihe staff ieam ro funher sirengihen our lon?er-temi financial securiti.. The Food Ethic5 Council reco£nIs￿ that tl tnav be appropriaie to allow the reserve io tlu¢¢uate as a resuli ofshon-temi Cash inflows alld outflovi5. Paoe 4 FOOD ETHICS COUNCJL REPORT OF THE TRUSTEES FOR THE YEAR F.NDED 31ST DECEMBER 2020 FINANCIAL REVIEW Risk Rei'iew The Tmstees have concluded their own review of the rnaJ￿ risks to which the charity is exposed and sysiems have been established io manage those risks. Significant externai risks to fi￿dIng have led io the development of a Strategic plan. H.hich will allow for the continued diversification of fijnding and aciivities. Internal risks are rninimised b}. the implementation of procedures for authorisaiion of all trdnsattion5 and projects and to ensure consisient quality of delivery for all operdtional aspects of the charitsble COM￿Y. These pro¢edure5 are peri￿1¢ally reviewed to ensure thai they still meet the needs of the charity. Impacts of COVIL%19 COVID-19 has had huge impa¢ts across th¢ world and h&8 incre&sed risks for many charities. W¢ have reviewed the siiuaiion r¢gularlJ' at Board m¢¢iings and have shared our r￿￿nSeS to COVII>I 9 with our major funders. We have taken steps to mitigaie the impacts of the p&]d¢mic and have demon5tyatrd considerable resilience and adaptability. which have put us in a Stronger p051tion than some other organasations (o not jusl 'get throueh. the pandemic. but to increase our impact. at a time when our work has nev¢r been n]ore needed. FUTURE PLANS Looking ahead There are more ¢hallenging times ahead. There is a clear mandate f￿ ehange in th¢ food sysiems. an undeniable urgency io a¢1 and a growing consensus on what we need io see more of in our food Systems in order to improve them. Throu?h our M'ork. we M'ill brinE clari￿. on HOW io make a just transition happen. We will use our expertise in SN'5temic sirdieg),. food eihics and framing (i.e. fLMNJ citizenship) io help identify. HOW the transiiion to fair, resilient. healthy. humane and ¢nvironmentslty sustsinable food Systrms will I￿￿1. We M'ill continue to tsrget our work in three ko. focus areas: (i) working with livestock farmers to help th¢m trdnsition 10 Sustainable farming (li) working with community food organisations io build wmmunity (f(￿) resilience and shift 2waJ from sticking plaster fotMI bank models and (iii) working with those in the research comTnunity to transfomi the publicly-funded fi)od and fanning research agen STRUCTURE, GOVERNANCE AND MANAGEME]YT Status The organi5ation is a charitable company limited by guaraniee, inCor￿rat￿l on 4 January 2(MM) and registered a5 a charity on 3 Febnwy 2(MH. The COTnpany was established under a Memorandum of AS%)Ci￿l0n. which establish¢d the objectiV¢5 and txjwers of the charitable company 2nd is governed under its Articles of Association. Under those articles. one-third of the Trllstees (those who have be¢n longest in office since their last appointment) musi retire from otTice at the Annual G¢nernl Meeting. The Members have guaranteed to contribute a maximurn of £10 in the event of the company being wound up. Charit). constliutio The Fi)od Ethi¢s Council was ¢stabli5hed in 1998. The company was pr¢viously called the Independent Council for Ethical Standards in Food and Agriculture Limited. The compan) name %tras changed to the Food Ethics Council by special resolution at a meeting on 4 Novernber ?(M)3. By s￿cLaI resoluiion at th¢ same meeiing the Memordndum and Articles of Associaihon were amended. Page 5 FOOD ETHICS COUNCIL RF.PORT OF THE TRUSTEES FOR THE YEAR EIYDED31ST DE EMBER 2020 STRUCTURE. GOVERNANCE AND MAI¥AGEMENT MeTNbership The council consis15 of up to twentv members at any time. including scientists. philosopher5. farniers and civil societ) leadeTS. The members elect tsustees (direciorsl who are resFK)nsible for managing the chariry. These are listed in page 6. W¢ have operaied a rotating Chair model sin¢¢ 2016. whereb) a different mLStee takes over the role of Chair for a defined period on a roiating basis. This proved successful in tnvolving mtstees even more deeplv in our work. so we have continued this in 2020 and inio 2021. At the end of 2020. there were l 8 Council members: Jon Alexander= Founder of the New Citizenship Prnjeci Julian Baggini.. Freelance writ¢rl philosopher Helen Browning OBE.. Organi¢ famier: Chief Ex¢cutive of the Soil Association David Croft: Global Director, Sustainability. EnviroTmient and Human Right& Reckitt Ben¢kiser Chloe Donovan. Founder. Hundred River Fann CIC Dr Nigel Dower. Honordrv Senior Le(￿rer in Philosophy. Universiry of Aberdttn (Chair 2021) Professor Elizabeth Dowler: Emeritus Professor of Food and Swial Policy. University of Warwick Ralph Early.. Independent FotKI Scieniisi and Food Ethici Cathrvn Higgs.. Head of Fo(MJ Poli¢v * the Co-operntive F(KKI Ruth Layion.. Founder and Director. Sankalpa Joanna Lewis.. Policy and Straiegy Dirteior. Soil A5￿Ciall[ Patrick Mulvany." Agriculwralisr: Director. Kamayoq; Hon. R¢search Fellow. Centre for Agro￿010gy. Water and Resilience (CA WR). Coventry University Pcie Rii¢hie.' Director of Nourish Scotland. organi¢ farnier Geoff Ta￿￿Y'. Curator. Food Systems Acadetny Albert Tucktr.. Independent consultant. advi50r and g0¢ial entrepreneur Patti Whaley.. Retired, Non-Execulive Direcior (Chair ￿￿0) Deirdre (Dee) Woods.. Cfrfounder Granville Community Kitchen: memlKr GLA London Food Board Two Counckl meTnber5 resigned during the year. Professor David Pink. Emeritus Professor of Crop Improvement at Harper Adams University Dr Kate Rawles. Ouidwr philosopher. author pnd activist OrganisAtional structurt The charity. is run b>. the Board cornprising the Trnstees who delegate the day to day running io the Principal oificer. Dan Crossley. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cofflpanv number (pland and Wales) 03C)01671 IEn. Registered Charity number 1101885 Registered office King5 Cr055 Hub i4b York Way London NI 9AB Trustees Mr J Alexander (resigned 2114r2020) Ms R La)ton Ms J Lewis Ms P Whaley (chair 2020) Professor R Early Dr N Dower {chair ?O?l) Ms C Donovan (appointed 2114n020) Page 6 FOOD ETHICS COUNCIL RF.PORT OF THF. TRUSTEES FOR THF YEAR ENDED 31ST DECEMBER 2020 REFERETr4CE AND ADMINISTRATIVE DETAILS CompaN)' Secretary Mr D Crosslei. Independent Examiner P J Thacker FCA DChA Chariot House Limited Chartered Accountsnts 44 Grand Parade Brighton East Sussex Bankers Triodos Bank De&inery Road Bristol BSI SAS STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees {who are a150 th¢ directors of F(Mx4 Ethi¢s Council for the purposes of company law) ar¢ responsible for preparing the Repon of the Trustees and the finan¢ial stsiements in accordance with applicable law and United Kintsdom Accounting Standards (Uniied Kingdom Generdlty Ae¢epted Accounitng Practice). Companj. law requircs the wsiees to pr¢pare financial statements for eath financial year which give a tnJ¢ and fair view of the State of affairs of ihe charithble ¢ompan!' and of the in¢orning re￿rCeS and application of resources. including the income and expenditure. of the charitsble company for that p¢r1￿. In preparing those financial statements. the tThstees are required to select suitable ￿cOunting w)licies and then apply them consistenily- observe the methods and principles in the Chari￿" SORP., make judgemenis and estimates thaÈ are reasonable and p￿￿ent= prepare the financial statements on the going concern basis unless it is inapprorffiate to presume that the charitable company will continue in business. The rnstees are responshble for kwing proper accounting records which disclose with reasonable accuracy at any time the flnancial ￿sitIon of the charithble compan}. and io enable ihem io ensure that the financial statements comply with the Companies Act ?(X)6. They ar¢ also responsible for safeguarding the assets of the charithble company and h¢n¢e for taking reasonable steps for the prevention and d&e¢tion of fi￿d and other irregularities. 2421............. and signed on its behalf by.. Approved by order of the tx)ard of tllLStees on Dr N t)ower- Trnstee Page 7 J￿iDEPENDENT EXAMINER'S REPORTTO THE TRVSTEES OF FOOD F.THICS COUNCIL IndePende￿t examiner's rtport to the trnstees of Food Ethics Couneil ('tbe Compan!") I retK)rt to the chariry nwsiees on m) examin￿10n of the accoun￿ of the Company for the y¢ar ended 31 st Dtcember ?020. Responsibilities and hsis of r¢port A% ihe charit*'s trustees of the Company14nd also its directots for the puT￿s of COTnpany la￿} )<￿ are reS￿nSIble for Ihe preparation of the accounts in accordance with the requ￿ements of the Companies Att ?006 Ilhe 2(M)6 Aci'l. Ilaving saiisfied myself that the accounts of the Compan). are not required to be audited under Part 16 of the 2006 Aet and arc eligible for independent examinaii¢)t). I report in respect of my examination of your chariw's aceounts as carried out under section 145 of the Charities Act )05 1 {'the ?01 l Act.). In carr)ing out my examination I have followed the Directions given by the Charity Commission unts seaion 14515) (b) of the 2011 Act. Independent examiner's ytatement I liave ¢ompleted MJ. examin￿10n. I confirm no matters have come io my attention in connection with th examinaiion giving me cause io believe.. accounting record5 were not kerrt in respect of the Company as required by section 386 of the ?(M)6 Act: or the accounts do not accord with those record5: or Ihe accounts do not compl}. with the accounting requirements of seaion 396 of the ?006 Aci o(her ihan an requirernent thai the accounts give a irue and fair which is not a Matter considered as part of a independent examin*ion; or thc accounts have noi been prepared in accordance with the meth(M15 and principles of the Staicrncnt of Recommended Pradice for a¢¢ounting and reportin? by chariiies (applicable th charities preparing their acc(Trunts in accordan¢¢ with the Financial Rewting Standard applicable in the UK and Republic of Ireland {FRS 10?)). I have no concerns and have come acros5 no other matters in connection with the examination to which attention should b¢ dra￿'n in this report in order to ¢nable a proper understanding of the accounts to be reached. P J Thacker FCA tKhA Chariot House Limited Chartered Accountants 44 Grnnd Parade Brighion East Sussex BN? 9QA Date.. Page FOOD ETHICS COUNCIL STATF.ME,YT OF FINANCIAL ACTIVITIES INCORPOR.4TIP4IG INCOMF. AND EXPE%DITURF. ACCOUNT FOR THE Tr'F.AR E.NDF.D 31ST DECEMBER ?O?O ?o?o Total fuftd5 ?019 Toial funds Unrestri¢ied funds Re5tricied funds Notes INCOME AND ENDOWMENTS FROM Donaiilins and legacies 5.0(K) Charitable gclivitie5 SubsLriplians and other primari purpose trading Chariiable grants 17.661 I(K>.(KK) 10.l(M) 77.761 l j?.750 19.647 Invesiment income Total 117.676 4?.850 160.526 10?.679 EXPENDITL'RE ON Charitable activitie5 Charitable acti￿ iiies 35.951 1?0.779 155.807 NET INCOMEIIEXPFNDITURE) 6.899 39.747 15i. l ?81 RECONCILIATiof* OF FUNDS Total funds brought forward 6.373 6.i70 TOTAL FUNDS CARRIED FORWARD CONTIP4UING OPERATIONS All income and expenditure has arisen from continuin4y afflivities. The n￿eS fMn part of these financial statements Page 9 FOOD ETHICS COUNCIL REGISTERED.NLMBER: 03901671 BALANCE SHEET 31ST DECEMBER2020 Unrewicted nds Resiricied fund5 Total funds Total funds Noies CLRRF.ryT ASSETS Debiors Cash ai bank ?.968 54.08i 40.814 10.3611 57.051 CREDITORS Aniounts falling due within one year (4.5611 {4.5611 {i.6.i91 NET CURRENT ASSETS 5?.4 TOTAL ASSETS LESS CURRENT LIABILITIES 39.2?1 12.74i NET ASSETS 39.??I FUNDS Unrestricted fund5'. GLneral fund JRCT Unleashing F(￿d Citizenship 13 i8.500 6.373 6.373 6.i70 Resiricied tunds 13.769 TOTAL FUNDS The chariiable companw is cnriiled to ¢xcmplion from audit under Section 477 of the Cornpani¢5 Act ?006 for the vear ended 31 si December ?O?O. Th¢ memb¢rs have noi required the COTnpanJ' to obtain an audit of its financial statements for the year ended 3 1st December ?O?O in accordance with Section 476 of the Companies Act ?(M)6. The tnJstee5 acknowledee their reswnsibililie% for (al ensuring thai ihe charitable companv keeps accounting records thai comply with Seciions 386 and i87 of the Companies Aci ?006 and preparino Iinancial siatemenis thhich give a true and lair vie7h of Ihe state of affairs of the charitable coimpanj as ai ihe end of each financial year and of its surplus or deficii for each financial i'car in accordance with th¢ requirements of SectlOT15 394 and i9$ and which other%%'ise compli ￿"1th th¢ rcquircmcnts of ihc Companies Act ?006 rela¢intt io financial statements. so far as applicable to the charitable companv. Ibl The noies forni part of these finan¢ial S￿lemen Page 10 coniinued... FOOD ETHICS COUNCIL REGISTERED NUMBER: 03￿1671 BALANCE SHEET- continued 31ST DECEMBER 2020 These financial statements have been prepar￿ in acwrdance with the provisions applicable io charitsble companies 5ubje¢t to the small compani¢s regitn¢. The fin8n¢ial statement5 were approved by the B(wd of Trns*es and authorised for issue on 6.th. ..Z4ti............... and w¢re signed on its behalf by.. Dr N Dower- Tntste¢ The noieg forn) pan of these financial statements Pa8ell FOOD ETHICS COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DE EMBER 2020 ACCOUNTING POLICIES A¢tounting basis and $t*ndanls The financial statement5 tsf the ¢harÉtable company. which is a public ￿nefIt entity under FR$ 10? ha%'e been prepared in a¢cordan¢e with the Charities SORP IFRS 102) 'A¢¢ounting and Reporting b!. Charities-. Siaiemeni of Recommended Practice applicable io charities weparing their accounts tn accordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland {FRS 102) lcfieeiive l Januarv ?0191'. Financial Reporting Srandard 102 The Financial Rewrting Stsndard applicable in the UK and R¢public or Ireland, and the Companies Act 2￿6. The financial statements hav¢ been prep￿ed under ihc htstorical cosi convention. At the time of approving the financial statement& the trnstee5 have a reasonabl¢ expectathon that the Charitv has adequate resources io Continue in operational existence for the foreseeable future. including thking into aecouni an>. FK)teniial impact of the Covid-19 pandemic. and on that b&siS the charity is considered to k a goin concern. Ineome All income is recognised in the Swement of Financ5al Activities once the charity has entitlemen( io the funds. it is piobable that the incorne will ￿ received and the amount can be measured ￿liably. Expenditure LiabilLtle5 ale recognis¢d &s expe￿ditur¢ as soon there is a legal or constructive obligation committing the charitv to that expenditure. it is probable thai a transfer of economic benefits ￿.71[ be required in settlemeni and the amount of ihe obligation can be measured reliabtY_ F.xI￿nd1ttIre is accounted for on an accruals basis and has been classified under h¢adings thai aggregate all cost related io the caie?ory'. Where costs cannot be directly attributed w panicular headings they have been allocated to activities on a basis consisteni with the use of resources. Taxation Th¢ Charitv is considered to p&ss the tests set out in Parngraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation purposes. Accordinglv the Charitw IS TM)teniially exempt from taxation ￿ respect of in¢ome or capital gain5 received within categories covered bN' Chapier 3 Part I I CorwTrration ?010 or Seaion ?56 of the Taxation of Chargeable Gains Aci 199? 1 the extent that such incorne or gains are applied exclusively to ¢h8ritsbl¢ purrrt)ses. Funds Unresiricted Funds are donations and other incomllig resources reccivabl¢ or gcnerntcd for the objects of the harity without further specified putV>se and are availablc as g¢ncrdl funds. Designated Funds are unrestricted funds of the ¢haritv which have E*en set aside by the 'frustees to fund particular future activitie5. Restrieted funds are io be used fi￿ specific pUT￿>seS a5 laid down bv the donor. Exrthditure which meets thes¢ criteria is charged to the funiL together with a fair all￿allOn of managemeni and supw)rt costs. Pension costs and other ￿￿-Tel1reme￿t bellefits The charitable compan). operates a defined contribution pension scheme. Contributions payable io the charitable co￿pan￿,5 pension scheme arr chaBed to the Statement of Financial Activitics in the period to which they relate. Fixed 8ssetS Recognitioll and rneasuremenl Fixed assets are measured ai CO￿ less accumulated depreci*ion and any accumulated impairnieni losses. tkpreciation is Calculated on a straighi line meth￿. tkpreciation is provided ro wriie down ihe cosi less estimated residual values of tangibl¢ fixed assets over their ¢stEm￿ed lives at annual raies of.. Fi¥tUTe5, Fittings and Equipment ?50/0 per annum Page 12 continued... FOOD ETHICS COUNCIL NOTES TO THF. FINANCIAL STATEMENTS- CODtinued FOR THE YEAR ENDED 31ST DECEMBER 2020 ACCOUNTING POLICIES- contiMued Fixed a5s¢ts The compan}. capitslise% fixed a5s¢ts with a value in exc￿ of £500. DONATJONS AND LEGACIES 2020 2019 Donations ?5.0(N) 20?0 2019 Donations Jatn Today INVESTMENT INCOME 2020 ?019 Inierest receivable- trading 15 32 INCOME FROM CHARITABLE AcfivITIES 2020 2019 Grants Joseph Rowntree Charitable Tnjst A W.60 Esmée Fairbairn Foundation The A Team Foundation Polden Pllckham Charitable Found￿]{ Oursankalpa CIC 39.950 35.0(K) 500 52.8(M) 15.0(K) 10.O(M> 7.500 13? 750 Page 13 coniinued... FOOD ETHICS COUNC NOTES TO THE FINANCIAL STATEMEYTS- rontillwed FOR THE YEAR ENDED 31ST DECEMBER 2020 DIREcf COSTS OF CHARITABLE ACTIVITIES 20?0 2019 Staff cosis Other Co%is Aciiyity. Costs Premi5¢5 Costs Accountancy I￿.612 1.105 98.894 1,690 36.954 16.692 1,577 8.196 1.600 120.779 155.807 NET INCOMEI(EXPENDXTURE) Net incomel{expenditUTe) is stated afteT eh*Einty(crediting): 2020 ?019 Independent Examinerfs fee 1.272 TRUSTEES, REMUNERATION AND BENEFITS There were no tmst¢es' r¢muneration or other benefits for the year ended 3 1st December 2020 nor for the year ended 31si December 2019. Trustees, expen Travel and subsi5tcnce costs amounting lo £0 (2019.. £282) were reimbursed io TTUStees l?019: 2 Trnsieesl STAFF COSTS 2020 ?019 Wages and salaries Social %rurity ¢OSIS Other pension costs 94.446 4.084 2.082 5.333 1,6i8 100.612 98.894 No employees received emoluments in ex¢ess of £f￿.￿MM). K¢y Manag¢rn￿t ¢molurn¢nts amowited to £44.948 (2019". £53.435) The Av¢rag¢ Numb¢r of Employtts on a Full Time Equivalent basis is 2.7 (2019.. 2.5) The average monthly number of employtts during the year was as follows: 2020 2019 Total Page 14 ontinued... FOOD ETHICS COUNCIL NOTES TO THE FINANCIAL STATEMEty4TS- tontinued FOR THE YEAR ENDED 31ST DECEMBER 202 COMPARA TIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds Restricted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 25,OlX 95.000 Charitabl¢ aetivities Subscriptions and other primary purpo trading Charithble Gronl 17287 15,5 2.360 42,5 19.647 58.000 Investh)enl income 32 32 Total 57.819 102.679 EXPENDITURE OIY Charitable activities Charl￿b[c aciivities 108.417 47.39) 155,807 ET INCOMEI{EXPENDITURE) (50.598) 12,530) (53.128) RECONCILIATION OF FUNDS Total funds brought foTward 56.971 65.871 TOTAL FUNDS CARRIED FORWARD 6,373 12.743 Page 15 continued... FOOD ETHICS COUNCIL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2020 io. TANGIBLE FIXED ASSETS Fixiures and fittin¥s COST At 1st Januatv ?020 and 31si D￿eMber ?020 10.910 DEPRECIATION At I si JanuaTW ?O?O and 3 Isi Decembér 2020 10.910 NET BOOK VALUE At 31 st December 2020 Ai 3 1st Decemtrtr 2019 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 2019 Trdde debiors 2,968 6.042 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 Social security and other taxes Accruals and deferred income 2.879 1.459 4.561 3.659 13. MOVEMENT J14 FUNDS movemeni in funds At 3111?120 Ai 111120 Unrestricted funds General fund JRCT Unleashing F(MMI Citizenship 6.373 38.500 721 6,373 32.848 39.?21 Restricted funds Polden Puckham Chariiable Foundation Th¢ A Tearn Foundation 6.370 2.930 3.969 9.iOO 3.969 6,899 TOTAL FUNDS 12,743 39.747 52.490 Page 16 contiTtued... FOOD ETHICS COUNCIL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR Ef4DF.D JIST DECF.MBER 202 13. MOVEMENT IN FUNDS- CODlinued Nei mov¢Tn¢nt in fun1￿ included in the above ore as follows: Incoming Resources resourtts expend¢d Movement in funds Unrestricted funds Cjeneral fund JRCT Unle&shing FIMJd Citizenship 82.676 35.IX {50,549) 34.2791 32,127 117,676 {84.8?8) 32.848 Restricted fuTrds Polden Puckham Charithble Foundation National Food Strategy- Public Dialogue- HVM JRCT Food Jusiice The A Team Foundation Esmée Fairbairn Found￿lOn- Food Talk5 10.IMM) {7.070) 2.930 10,i(M) 4.950 15.( (10.Iw) {4,950) 3,969 42.850 35.951 6.899 TOTAL FUNDS 160.526 1 ?0,779) 39,747 COm￿ratiVeS for movement itt funds Net mov¢menl in fun(ts At 3111?119 Ai 111119 Unrestricted funds General fund 56.971 (50,5981 6.373 Restrieted fund5 Farni Animal Welfare F0￿M WWF Livestock Dialogues 2 Scoping Polden Puckham Charitable Foundation JRCT Food Citiz¢nship (182) 1244) (7051 1.399) 244 7.075 1.399 6,370 2.530 6,370 TOTAL FUNDS 65,871 53.1?8} Page 17 ¢ontinued... FOOD ETHICS COUNCIL NOTES TO THE FINANCIAL STATE.MEWTS- eontinued FOR THE YEAR ENDED TDE EMBER 2020 13. MOVEMENT IN FUNDS- eontinued Comparative net movement ID fithd& included tn the a￿￿&ve are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 57.819 (108.4171 {50.5981 Restricted funds Farn Animal Welfare Forum WWF Livestock DIa1￿ueS 2 Scoping Polden Puckham Chariiable Foundation JRCT F(th Citizenship National Food Strategy- Public Dialogue- HVM {18?} {18?1 7.5 35,0(N) 18205 (36,399) 17051 (1.399) 2.360 2.360) 44.860 47.3(A)I TOTAL FUNDS 102.679 155.807) 53.1?81 14. RELATED PARTY DISCLOSURES A grant of £15.0(M) wa5 received from a CIC of which Ms R LayM. a Trn5tee of the charity. is a director. Page 18