•gistered Charlty Number: 1110266 Company Nurnber: 05410855 Sodexo Stop Hunger Foundation (A Company Limited by Guarantee) Trustees. Report and Financial Statements for the year ended 31 August 2023 *Af14D40KK 0110612024 COMPANIES HOUSE A11
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Sodexo Stop Hunger Foundatlon Conttnts . Pa9¢ Reference and.admlnistTatlve detalls................................................................................. Report of the Trustees.....- Trustee5' Re5ponsibilitles Statement.................................................................................. Independent Auditorfs Report. -10 ststement of Financial Ath"vities....................................... 13 8alance Sheet ............................ 14 Statèment of Cash Flows...-.............................................................................................. IS Notes to the Finanoal Ststements..................................................................................... 16
Sodexo Stop Hunger Foundation Reference and administrative details of the charitable companyi Its Trustees and advisers for the year ended 31 August 2023 The directors. and trnstees of the Charttable company (the '.charity") who served durln9 the year and up to the date of signing the financial statements were a5 follows: Trustees Laura Ellen Brimacombe Patrick Forbe5 Sean Michael Haley Gareth Luke Sefton John Slmon Keith Mccluskey Oavld Willlam Anthony Mukahy Samantha Louise Scott Davld Forbes Paul Marcin Anstey Ouncan Graham Palmer Sharon Elizabeth O'Brien (Chair) (Resigned 15 September 2023) (Appointed 23 November 2022) (Appointed l June 2023) (Appointed 27 June 2023) (Appointed 17 Ortober 2023) .Company number 05410855 Reglster¢d ¢harity number 1110266 Re9lStered office One Southampton Row London WCIB SHA Cornpany setretary Sodexo Corporate Services {No 2) Limited Independent Auditor Azets Audit Services ts"mlted 12 King Street Leeds LSI 2HL B•nkers HSBC PLC 8 Canada Square London .E14 5XL Allled Irfjsh Banks PLC 1-4 Baggot Street Dublin 2 D02 X342
Sodexo Stop Hunger Foundation Report of the Trystees for the year ended 31 August 2023 Sodexo Stop Hunger Foundatlon Is a Charitable company. company number 05410855. charlty number 1110266. The trustees, who are a150 directors gf the charity for the purposes of the Companies Act 2006. present their annual report together wlth the financlal statements of the charity for the year ended 31 August 2023. The annual report serves the. purposes for both a Trustees, Report and a Direttors,. Report under company law. The trustees have adopted the provislons of Ac¢ountbn9 and Reportin9 by Charitles: Statement of Recommended Practice appli¢able to harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and republlc of Ireland (FRS 102) {effertive l January 2019). The Reference and administrative details on page l of these financial statements form part of the Report of the Trustees. Structure gov¢rnance.and management The Foundation was incorporated on 1st Aprol 2005 as a company limfrted by guarantee whlch is governed by Its Artides of As50dation. During FY23 nlne Trustees served on the Board. The Chair of the Tru5tee5 seèk5 to recruit trustees from dlfferent sectors of Sodexo's management teams to provide a diverse rènge of knowledge, skills and experience. The Trustees do not receive any emoluments for their services, nor were they reimbursed for any expenses during the period. Trustees are appointed by resolution of the Foundation's member, Sodexo Holdlng5 Limited. and are provided with tail0d indurtion matedals arid tralning in their duties and responslbllitles. The Board of Trustees meets quarterly to receive reports on the Foundatlon's attivlties and performance and consider grant applicatlons. The Board is also responsible for setting the strategy of the Foundation in alignment with the global Stop Hunger obJertlves. A committee of the Board meets quarterfy to revlew grant applicatlons and submlt recommendations to the Board tor consideration. ReFresentatives from charity partners are invSted to attend Board meetlngs periodically to provide an update oft sector trends and support requirements. The Board regularly reviews its internal pro¢e5ses and controls to determine their effertiveness. Objertlves anql ActlvFtles Stop Hunger was founded in the US in 1996 when a group of Sodexo colleagues saw chlldren going hungry durlng the school holidays. With Sodexo's 5UPPOrt. these colleague5 Started a breakfast dub and Stop Hunger was born. Today, Stop Huftger is a global nonprofit network arting for a hunger-free world and present in 74 countries aeross the globe. Its strategy allgns with the Sustainable Development Goals d*5igned by the United Nations to make the world a fairer more equal place. In the UK and Ireland. the Sodexo Stop Hun9er Foundation is an independent gIstered charity. To malntaln close ali9nment between ovr artivities and local needs, we partner with network of charities and Commurbity Interest Companies. Our key national partners are Fareshare, Trussell Trust. SSAFA and Enartus and our support takes the form of grant5, volunteering arbd the sharing of expertise. Our work also extends beyond food aid and funds projeets that empower wgmen, which Is one of the most effectlve ways to tackle food Insecurity. The Foundation is 4150 a key enabler of Sodexo's SocSal Impact strategy, the company's ethlcal manifesto for improving qua14ty of lrfe. The objectives ot the Foundation are to: advance the education of the genèral public in relation to health. nutrition Jnd wellbeing- provide relief ffom financial hardship, and the improvement of the quality of life in socially andlor economically disadvantaged eommvnitles through the provSsron of grants. goods andlor ser¥ice5 in relation to health. nutrition and wellbein9; and
Sodexo Stop Hunger Foundation Report of the Trustees for the year ended 31 August 2023 promote all other purposes recognSsed as charitable under the law of England and Wales from time to time to the benefit of the general public as the Trustees shall from time to time detemiine. This year, the Foundation supported Fareshare. SSAFA. CoFarm. Made In Hackneyi Edinburgh Food Social and the Alexandra Rose Charity."These grants have helped to redistrfbute surplus food, support veteran5 at risk of or experienong homelessness. provide free vegan meals, enable farms to donate local produce. empower disadvantaged communities" to cook. and PmV4de food vouchers to families wlth young children. As well as meeting immediate needs. we also target the root causes of food insecurity and poverty, for example by seeking to share skills. Improve mental health. fund case worker support and provide employment and debt advice. The organisatlons and projects we supported indiide: .The Trussell Trust's Help through Hardship. helpline. a free service that advises people In financial stress about available support and benefits. 'A Lust for tsfe. schools programme, which builds wellbeing and restlience amongst primary school chlldren in Ireland. The Oasis Living Rooms initiative. which opens buildings to provide warmth. food and support for communities in need. The Enactus UK Incubator Competrtion. which saw university teams complete to win . funding for projects that tackle food insecurity and empower women. The Bread and Butter Thing. which builds women's ¢onffidence to support them b)¢k into employment, and break the cycle of poverty. The Black Heart Foundation supporting women from ethn1¢ minority backgrounds accessin9 university. The Porch Day Centre. whtch helps individuals experiencin9 homelessness to access work. Chapter One, which works to help young children read to expected standards. The Swltch, providing finantsal literacy education to vulnerable children aged 9 and 10 from Manorfield Prirnary School in Tower Hèrnlets. London. A. fvll list of all the <haritie5 we have 5UPPOrted in FY23 can be fwnd on page 21. All fundralsin9 is conducted by tfve Foundation without utilising the seic¢S of professional fundraisin9 Partners or commercial partiopators. Funds are raised through the Sodexo staff lottery, annual events and ad hoc fundraising by Sodexo staff. Sodexo additionally supports the Foundation by donating the Cost of time of its employees spent on the accounting, governance and administrative services for the Foundation. along w6th allowing its employees to volunteer time during working hours to support the Foundation's Charity partners. In FY22. th.e Trustees refreshed the FndatIon'S strategy and in the process of dolng so also constituted a more specific mission for the Foundation. This is to act sustainably to fight foo Insecurity and complement Sodexo's Social Impart pledge in the UK and Ireland. The refreshed strategy saw the"Foundation foojs on volunteering and women empowerment projects, whllst seeking a balance between supporting food aid and "beyond food aid" projects to address the root causes of food insecurity. In order to monitor the Foundation's performan against the strate9V. the Trustees a9reed set of key perfomiance indicators. By 2025, the Foundation aims to: Divide its fi"nanaal support between national and local charities, 70Wp to national charity partners. 2086 to smaller tharity partners and 10% to innovation projects". Achieve 20% of the Sodexo UK worl<for¢e accessin9 volunteering. Maximise indirert beneficiaries. Focus 50% of its 9rant 9iving on addressin9 the root causes of food inseojrity
Sodexo Stop Hunger Foundation Report of the Trnstees for the year ended 31 August 2023 {beyond food aid activitte5) whilst remaining mindfvl of the CUnt etonomic dimate and the increasing need to alleviate hunger. Support two women empowerment projerts." Good progre55 towards the 2025.strategy wès achieved in FY23 as detailed below: Grants glvin9 Allgnlng with the needs rjf our beneficiaries 52% of donated funds went to supporting projects that pn)vlded immediate assistsnce during the cost-of-livin9 crisis. The remaining 48% of fijnds were used to empower local cornmuniti¢s tackling the root causes of food insecurity. In addition to £37,033 fundraised and donated locally, £470.700 was'donated centrally to charitles and Community Interest Q)mpanies {CICsl ftr sizable projects addresslng the needs of local communlties. Alignin9 Wlth the Foundatlon's comiiiitment to maknng a longer-terrn ènd sustainable Impart, an increased number of donations were multryear grants. Charities benefit greatly from multiyear fundlng as it offers additional scope to pursue their loNJ-term vision. Volunteerlng The Stop Hunger Foundation was bom as an employee-led initiative. In fact. Employers Supported Volunteering stems from a desire to Improve the quality of life of those.less fortunate in the communities that we work in. All Sodexo employees are given 3-pald days a year to volunteer In their communitie5. This year. we delivered a record 7.967 hours of volunteering" mixing hands-on work with the sharing of expert15e. Volunteering wlll remalh a key foojs for the Foundation In 2024. . Fundraising Thanks to the unwavering support of Sodexo colleagUt5. dients, and 5upplier5, 77QA of the funds distributed by the Foundakn"on were ralsed externalty. This year, between Sodexo's contributions and the work of Stop Hunger ¥olunteers', £604,977 wa5 raised throLbgh a variety of activltiès. These activities ranged trom our annual dinner.to well-being walks. Empowering women . Global research has shown that supporting women is one of the most effective ways to tackle food insecurity. In the UK and Ireland, the Foundation ctrtjevelops programmes wlth local charity partners to help.women tend to their imrnediate and longeF-term needs. In FY23, Stop Hunger supported 8 projects that aimed to build confidence. 5UPPOrt refugee residents. tackle homele55ness anij fvnd education for women. Partnershlp Sodexo has g¥er 35.000 employees across the UK and Ireland - encompassiNJ a wide and varled . pool of expertise spannrng across the hospitality and facility management Industries. And as Stop. "Hungerfs founding partner, Sodexo is passronate al)out servin9 our charity partners beyond mere fvnds, we are commltted to giving our tharity partner5 access to the considerable expertise at our disposal. Stop Hunger is committet1 to developing meaningful partnerships. This indudes taking advice from our charity partners on where stspport is needed ant1 sharing our skills and expertise In retVTn. This year, we have fomied new partnerships and deepened other5. induding giftin9 our apprenticeship levy to fund trainlng that builds resilience. Grant Glviffig Pollcy The Foundation hjnds a wlde range of activities related to preventing and tackling food instcurity in the UK and Ireland through different types of grarbts.
Sodexo Stop Hunger F.oundation Report of the Trnstees for the year ended 31 August 2023 Charltles apply for: single" year grant multi-year grant restricted costs {allocated to a parkn"cular project) . unrestricted/ core costs Gr•nt Giving PTln¢ipl•s The Foundation supports approximately 10 charItS annually. who align with its Strategic foojs areas and the guidlng selettlon principles below: 70% of the overall money granted to be awarded to natlonal charity partners Imeanlng charities that are working across several counties at least), 20% to smaller charlties ("Stop Hunger Local-} and IO% to innovation prtsjerts. Opportunity for Sodexo staff and dient repsentativeS to. volunteerlparticipate. How well the ¢ause is funded by other sources. Alignment of the application to the Fgundation's obJectiveslinits"atives dientslmarket sectors and tharity law. Level of due dillgen¢e ttlnducted (web: financial: slte visit: presentation/Q&A) and the need for periodic verification on the application of funds fretum on investment-l. Use and visibllity of Sodexo's brand as part of the funding arrangements. Level of charity compliance nd associated risk (registered tharity. H&S standardsltraining: CRBIEnhanced checks, etc.). The geographic spread of fijnding across UK&I and the diversity of benefioaries supported located where Sodexo has a high presence to ma¥imise impart. Balancing regular givin9 aqainst any ¢ontingency fund to meet emergency needs falllng within remlt. The above are non-exhaustSve guidlng pdnclples and the Trustees will assess each appllcètion on Its merlts. Following feedback from our tharity partners, the Foundation delivered meanln9fv1. local and tailored support, leveraging the Foundation's four critical pillars - volunteerlng, fundraisin9 grants given and meaningfvl partnerships. Over the year. the Stop Hunger Foundatlon placed considerable focLrs on: Ensuring a tallored and proportionate response to the cost-of-livin9 crisis. Relying on the expertise of our charity partners. we adapted our support to deliver greater efficiency. Examples include switching to unrestricted fundin9 maklng addltlonal donatlons. and Incas1rbg volunteering. Adopting a needs-ba5ed approach by focussing on skill-based volunteerin9. This support allowed our charity partners to plug knowledge arbdlor resource gaps. As our volunteering fulflls a direct need identified by our charity partners. Sodexo employees were able to add value Whe it was most necessary. whilst also minimisin9 the administrative burden. Publlc Ben*fit .The Foundation's charitable activities, as descrlbed above. focus on either advanclng the education of the gerseral public in relation to health. nutrition and wellbeing or providing relief from financial hardship and the improvement of the quality of Ilfe in socially and/or e¢onomi¢ally disadvantaged commtlnitles. They art undertaken specifically to provide public" benefit throu9h improvin9 the lives of those we help, their families and the greater community. . The Board of Trustees ensure that they continue to carry out the Charity's aim5 for the public benefit and confirm they have complied with the duty in section 4 of the
Sodexo Stop Hunger Foundation Report of the Trustees for the year ended 31 August 2023 CharSties Act 2011 to have due regard to wblic benefft guldan¢e as published by the Charity Commlsslon. Achlevements and P¢rfomian With food Insecurlty reachlng unprecedented levels in FY23, an estimated 1.3 million more people were pushed into poverty. The charlty sector saw a rise in demand from oryanisations working with the most vulnerable. The Foundatoon has responded strongly by deliverin9 significant svpport to those In e. Over £500.000 was donated to ktsl ènd natlonal pn)jects. and more than 1.8 mlllion people benefitted from Stop Hungtrfs multifaeeted support. Following feedback from our tharity partners. the Foundatlon delivered.meanlnghJl. local and tailored support. leveraglng Stop Hungerfs four ulkn.cal plllars - volunteerfjng1 funt1raisin9. grants giving and meaningful partnershlps. 'Over the year. the Foundatlon placed conslderable focus on: Ensuring a tallored and proptsrtlonate response to the cost-tsf-livlng crisis. Relylng on the expertlse of our charfty partrbers. we adapted our support to deliver greater efficienry. Examples indude swltthing to UnStrita funding. making additional donatlons, and increasln9 volurteerfn9. "Adopting a needS-baS approath by fo¢ussing on skllFbased volunteerlng. This suppo.rt allowed our charoty partners to plug knowledge"andlor resource gaps. As our volunteerin9 fulfils a direct need identified by our charity partner5. Sodexo employees were able to add value where it was most necessary. whilst also minimi5ing tht administrative burden. The latest Stop Hunger viewed k.sodexo.com live om- iv and includes a sethes of case stu(Jie5 detailing sorne of the greèt work the Foundation has dellvered in tts support of local and national charity partyers. These case studies shine a light .on how the Foundatlon's hollstlc approach to volunteering. fvndraising. grants 9ivlng and partnership buildlng has led Impact across the last twelve months. Report can on the followin9 Ilnk.. fil Details of the grants the Foundatlon has pald a Inthded In Nore 7. Financlal revlew At 31 Au9USt 2023. the Foundatlon's finances are robust. wlth total Income Of £911,189 12022= £566.630). The cost of the staff lottery Is the prfjncipal cost wlthon the expendlture on raising fund5 which amounted to £260,593 (2022: É186,419). Expendlture on ¢harit•ble artivitie5 was £573.771 (2022- £305.865). The Foundation athleved ¥ net income of £77.113 Sn 2023 {2022: £74.853). At. 31 Au9ilSt 2023 the reserves held by the Foundation were £327,446 {2022: £250,335) all of whi¢h were free reserves. At 31 August 2023 total funds of É495.000 are expected to be pald on multl-year grants where perfomlance condltions are rnet in future years. The princlpal funding sour¢es of the Foundation are funds raised from the Sodexo staff lottery In the UK and Ireland and annual events. A corporate donatr.on Is prowlded by SodexD Limlted whlch the Foundatlon uses to meet its day-to4ay running Costs. A5 detailed In the Future Plans sectlon. a princopal risk facln9 the Foundatlon In FY24 wlll be challenges arising from the ongolng Cost-of-livlng crlsls. Fundraislng Is likely to be Impacted by J redurtion in drsposable income combined with the Foundatlon's charlty partners fO$ting an increase in demand for their servlces in FY24 and beyond. The Trusrees have refreshed the Foundatlon's grant-giving policy In order to maximise the impact of the FoUndati¢'s grants durfn9 FY24 and beyond.
Sodexo Stop Hunger Foundation Report of the Trustees for the year ended 31 August 2023 Future.s¥lang At 31st August 2023, the Foundation had unrestricted reserves of £327.448 12022: £250.335}. which are intended to be used to make donation5 to charities and other or9anis3tions worklng n Ilne with the Foundation's objectives. Suc¢es5ful partners from prior year5 are invited to apply for further grant5. The principal risks and uncertainties facing the Foundation are the ongoing challenges raising funds and indivlduals providing their time and support for volunteering purposes, to fulfil the Foundation's charltable objectives. combined with an Increased demand for fundlng from charity partners. In order to help mrtigate these risks and uncertainties. the Trustees refreshed the Foundation's Communication strategy in order to engage a greater number of employees in volunteering and fundraising activities and will continue to engage with its charity partners to better understand their needs and ¢reate meaningful PartnehiPs. Focus areas for FY24 Include drivlng greater volunteerin9, ensuring maximum impact to our local communities, leveraging Sodexo's diverse supply chain and helping communities better understand their contribution to dimate change to support envlronmental as well as soclal impart. R•s•r¥•s policy and 90in9 concern Whilst there Is no fornial reserves polfjcy. the Trustees intend to hold funds In Serve so as to ensure the Foundation can continue to meet its long-tem objectives. The financial statements have been prepared on a golng concem basis which the Twstees consider to be appropriate for the following reasons.. The business model of the Foundation is such that Its Charitable artlvltles.are limlted to those which it has sufficient fund5 to SUPFK¢rt from the excess of income received over the costs of administertng the Foundation. The Trustees have reviewed the cash flow forecasts for a period of 12 months fro.m the date of approval of these financial statements whith indicate that the Foundation will have sufficient funds to meet Its liabilities as they fall due for that period. There have been no material post balance sheet events that would affect this assessment. Consequently. the Trustees are confident that the Foundatlon will have sufficfjent funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the statements. Trustee$, indemnities The Foundatlon has made qualifying third-party indemnity provisions for the benefit of the Trtsstees whlch were-made durln9 the period and remain in force at the date of this report. Audltor The aLJdittsr, Azets Audit Services Limited. is deemed to be reappointed under section 48?(2) of the Companies Act 2006. Dlsclosure of Inforn)atlon to the auditor Ea¢h of the persons who.are trustees at the.tlme when this Trustees. report is approved has confirmed that= so far as that trustee Is aware, there is no relevant audit information of whb¢h the charitsble company's auditor is unaware. and. that each trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the Charitable company's auditor Is aware of that information.
Sodexo Stop Hunger Foundation Report of the Trustees lor the year ended 31 August 2023 The Tru5tee5' Report has been prepared in aCcOrdar with the special provisions of Part IS.of the Companies Art 2006 relating to small companies. 2110512024 The financlal statements have been apprt*ved on .................................... and signed on its behalf by: &Atetk Jokh Gareth Luke Seftgn John Chair and Tntee
Sodexo Stop Hunger Foundation Trustees. Responsibilities Statement for the year ended 31 August 2023 The trustees are responsible for preparing the Trustees. Annual Report and the. financial statements in accordan with applicable law and regulations. Company law requires the tnjstees to prepare.financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounttrig Standards and applicable law (UK Genernlly Accepted Accounting Practice), induding FRS 102 The Financial ReportAng Standard appli¢aWe in the UK and Republic of Ireland. Under company law the trustees must not approve the finanoal statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable company and of the excess of income over expenditure for that period. In pparing these financial statements, the trustees are quid to.. selert suitable accounting polioes and then apply them consistently. make Judgements and estr"mates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed,.subJect to any material departures disdosed and explained in the financial statements,. prepare the financial statements on the going cgncern basis unle55 it is inappropriate to presume that the charitabbe company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable company's transactions and dtsdose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensu that the financial statements comply with the Companie5 Att 2006. They are responsible for such internal control as they detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. and have general responsibility for taking such steps as are reasonably open to them to safeguèrd. the a55ets of the Charitable company and to prevent and detect fraud and other irre9ularities.
Sodexo Stop Hunger Foundation Independent Auditor's Report to the Members of Sodexo Stop Hunger Foundation for the year ended 31 August 2023 Opinlon We have audited the financial statements of Sodexo Stop Hun9er Foundation fThe Charitable company") for the year erbded 31 August 2023 whith comprlse the Statement of Financial ActivitSes, the Balance Sheet. the Statement of Cash Flows and the notes to the financial statements, Including a summary of significènt accounting policies. The financial reporting framework that bas been applied in their preparntion" is applicable law and United Kingdom Accounting Standards, includin9 Finanoal Reporting Standard 102.. The Financtal Reporting Standard applicable in the UK and Republic of IrelaThd '{unIt Kingdtsrn Generaly Atrepted Accountin9 Practice). In our oimnion. the financial ststements.. give a true and fvir view of the state of the Charitable company's affalrs as at 31 Au9USt 2023 and of its income and expenditu for the year then ended; have been properly prepared in acctsrdar wlth United Kingdom Generally Accepted Accountlng Practice: have been prepared In accordance with the reqU1ments of the Companies Act 2006. Basis for opinion We conduded our audit in accordance with International Standards on Auditing IUKI {ISAs (UK)) artd appllcable law. Our responsibilities under those standards ère fiJrtheY described in the Auditor's responsibilities for the audit of the finanoal statements section of our report. We are independent of the Charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements rn the UK, induding the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in atcordan¢e with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded. that the Tru5tee5' use of the going concern basls of accounting in the pparatIOn of the financial statements is approprlate. Based on the work we have perfomied. we have not identified any material urtcertainties relatit)9 to events or conditions that, individually or collectively. may cast SignifAt doubt on the charitable tompany's ability to continue as a 90in9 concern for a period of at least twelve months from when the finantial siatemtnts are authorised for issue. Our responslbilities and the responsibilities of the trustees wrth resp*rt to going concem are described in the levant sections ol this report. Other inforni¥tion The trustees are responsible for the other infomiation. The other information comprfses the infomiation included in the annual report other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other infom)ation and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance condusion thereon. In connection with our audlt of the fincIal statements. our respon5ibiltty is to re4d the other information and, in doin9 so, consider whether the other Information is materially inconsistent with the finanaal 5taternents or our knowledge obtained in the aut1it or otheThYise appears to.be materially misstated. If we idents.fy such material inconslstencies or apparent materlal misstatements, we are required to determine whether there is a material misstatement in the .flnancial statements or a material misstatement of the other inforniation. ff, based on the work we have perfomied. we eondude that there is a materbal misstatement of thls other Informatlon. we are required to Part that fact. We have nothin9 to report In this ard. io
Sodexo Stop Hunger Foundation Independeftt Auditorfs Report to the Members of Sodexo Stop Hunger Foundation for the year ended 31 August 2023 Opinions on other rn•tters prestribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit-. the information given in the Trustees, Report {incorporating the strategic report and the dirertors, report) for the financial year for which the financial statements are prepared is consistent with the financitil statements: and the Trustees, Report (incorporating the strategic report and the dirertors, report) has been prepared in accordance with applicable Ial requirements. Iljatters on which we are required to report by exception In the light of the knowledge and underst?nding of the Charitable company and its environmerbt obtained in the course of the audit. we have not identified material misstatements in the Trustees, Annual Report. We have ntsthing to report in respect of the folltswing mattets in relation to whlch the Companies Act 2006 require5 US to report to.you if. In our opinion- adequate accounting records have not been kept or retums adequate for our audit have not been received from brnnches not visfited by us. the financlal statements are not.ln agreement with the accountin9 records and retums. certain disc105ures of twstees, remuneration specified by law are not made: or we have not obtained èll the information and explanation& fteceary for the purposes of our audit. R•sponslbilities of th• Trustees for the financial slatem•nts As explained more fully in the Trustees. Responsibilities Statement. the trustees are responsible for the preparation of the finanoal statements and for being satisfied that they give a true and fair" vlew, and for such intemal control as they detem)ine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements.. the trustees are responsible for assessing the Charitable company's ability to continue as. a going concem. disclosing, as applicable. matters related to golng concern and uslng the going concern basis of accounting unless the trustees elther intend to liquidate the Charitable company or to cease operntions. or have no realistic altemative but to do $0. Our responsibilities for the audit of the finan¢ial statements Our objertive5 are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that Indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will alway5 detect a material rrii5Statement wheft it exists. Misstatements can arise.from fraud or error and are conSided material if, individually or in the aggregate, they could reasonably be expetted to Influence the economic decision5 of user5 taken on the basis of these finèncial statements. A further description of our SponsIbl11"eS for the audit of the financial statements is located on the Financial Reporting Council's website at www.frt.org..uVaudit0rs5ponSibil1ties. This description forn)s part of our auditorfs report.
Sodexo Stop Hunger Foundation Independent Auditor's Report to the Members of Sodexo Stop Hunger Foundation for the year ended 31 August 2023 Extent to which the •udlt considered Capable of detectln9 orre9u114rltr, Includin9 Ir•ud Irregularities, induding fraud, are instances of non-compliance with laws and regvlatlons. We desi9n procedures in line with our responsibilities. outlined al)ove and on the Financial Reporting Counol's website, to detect materlal misstatements in re5pert of irregularities. including fraud. We obtaln and update our understanding of the group. its ath"vities. its control environment, and Ilkely hjture developments, induding in relation to the legal and regulatory framework applicable and how the group Is complySng with that framework. Based On this ijnderstanding, we identlfy. and assess the rlsks of material mlsstatement of the financlal statements. whether due to fratjd OT error, design and perforni audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appmpriate to provide a basis for our opinion. This indvdes conderatIon of the risk of acts by the entity that were contrary to applicable laws and regulations, in¢luding fraud. In response to the risk of irregularities and non-compllance with laws and regulatfjons. Inchjding fraud, we designed procedures which included= Enquiry of mèna9ement and those drge with governance around artual and pgtential liti9atlon and daims as well a5 actual. susperted and alleged fraud. Reviewing mSnutes of meetings of those charged with 9ovemanc¢- Assessing the extent of compliance with the laws and regulations considered to h)ve direct material effert on the finanoal statements or the operations of the company through enquiry and inspertion- Reviewing finonaal statement disdosures arbd testing to suppo"n9 documentation to assess compliance wlth applicable lows and re9ulats"ons: Performlng audit work over the risk of rnanagement bias and override of controls. indudlng testing of Joumal entries and other adjustments for appropriateness. evaluating the business rationale of significènt transactions outsrde the normal ¢ourse of business and revtewing accountin9 estimates for indicators of potential bias. Performing audit work over the timing and recognition of revenue and whether it has been orded in the correct accounting period. Because of the inherent limitations of an audit. there is a risk that vie will not detect all irregularities, induding those leading to a inaterial misstatement in the financial statements or non-cornplSance with wulation. This risk increases the more that compliance with a law ¢*r regulation is removed from the events and transactions reflected in the finantial statements, as we will be less likely to become awa of instances of non-compliance. The risk. of not detecting a material misstatement resulting from fraud is hi9her than for one resultin9 from error, as fraud may involve co51usion, forgery. intentional omissions, misrepresentations, or the overrlde of Internal control. use ol our report Thi5 report 15 made solely to the Charitable company's members, as è body, in attordènce with Chapter 3 of Part 16 of the Companies Act 2006. Our audlt work has been undertaken so that we mlght state to the Charitable company's members those matters we are required to state to them in an auditor's report arbd for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibiliiy to anyone other than the Charitable company's members as a body. for our audit work. for this report.. or for the opinions ¥ve have fgrmed. Jessica Lawrence (Senior Statutory Aud•tor) for and'on behalf of Azets Audit Services Umited 2810512024 Chartered Accountants Statutory Auditor 12 Klng"Street Leeds LSI 2HL 12
Sodexo Stop Hunger Foundation Statement of Financial Activities for the year ended 31 August 2023 (Induding Income and Expenditure Account) Total funds 2023 Total funds 2022 funds 2023 funds 2023 Notes Income from: Donations Fundralsing attivities Investments 108.429 604,977 196.577 305.006 604,977 148,056 418.491 83 . Total Incom• 714 612 196 577 911 189 566 630 Expenditure on: Raising hjnds 178.fA6 81.947 260.593 186,419 Charltable activities 459 141 114 630 S73 771 305 865 Total ex enditure 637 787 196 577 Net ains on investments io 288 507 Net movement in funds Reconciliation of funds: ' Total fijnds brou ht forward 250 335 250 335 Total funds carried forw•ril 250 335 The Statement of financial activities indudes a15 galns and losses recognlsed In the year. The statement of financfjal a¢tivities also complies wtth the requirements for èn. Income and expendlture account under the Companies Art 2006. Ail income and expenditure.derlves from continuing activit5. A fully detailed Statement ol Financ1 Activities for the year ended 31 August 2022 is shown at note 17 to the finanaal statements. .The notes on pages 16 to 25 fomi part of these financlal siatements. 13
Sodexo Stop Hunger Foundation Balance Sheet as at 31 August 2023 14otes 2023 2022 Fixed ass•ts' Investments .10 4.128 3,840 Current assets Oebtor5 li 8.278 70,643 Cash in bank and In hand 472 236 306 233 480.514 376.876 Crtditors: Amounts falling due within one ear 12 157 194 130 381 r4et' current assets 323 320 246 495 Net assets 250 335 Charity funds Unrestncted funds 250 335 Total lunds 250 335 The company's finanoal statements have been prepad in accordance with the provislons Jpplicable to companle5 subjert to the small companies regime. 2110512024 The financial statements were Jpproved and Juthorised for issue by the tnjstses on ........................ and slgned on their behalf by.. (5aR8th Jok# Gareth Luke Sefton John Ch•ir Patrick Forbes Trustee The note5 on pages 16 to 25 form part of these financlal statements. Comp4ny Re9istr4tion Number: 05410855 14
Sodexo Stop Hunger Foundation Cash Flow Statement for the year ended 31 Au9USt 2023 Notes. 2023 2022 Cash flow5 from operating •clivities Net Cash rovided b eratin a¢tivities 164 797 164,797 115,099 Cash flows from investing act•vities Investment Income 83 83 1.206 Changt in cash Jnd osh ul¥alents in the year Cash and cash e uivalents brou ht forward 166.003 306 233 115,182 191 051 Cash and cash e ulvalents carried fornard 472 236 306 233 15
Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 August 2023 A¢counting Polides The prlncipal accounting. policies adopted. judgements and key sources of estlmation uncertainty in the preparation of the finan¢i•l statements are a5 follows.. Charity inform•tion The CharitatAe company rs a comparby limlted by guarantee and a charity re9lStered at the Charity Commission in England and Wales. The rnembers of the Charitable company are the tyustees named on page l. In the event.of the Charitable company being wound up. the liabllity in respect of the guarantee Ss lirnited to Enil per member of the Charitable company. The registered office is One Southamptgn Row. London, WCIB 5tr1A. The nature of the charity's operations and principal artlvitie5 IS giverb in the tharity information and Trustees. Report. Basls of Preparatlon of financial ststemÈnts The financSal statements have been prepared on a going concern basis In accordance with Accounting and Reporting by Charities= Statement of Recommended Practlce applicable to charities preparSng their accounts In accordance with the Financial Reporting Stsndard applrc4ble in the UK nil Republic of Ireland (FR5102) (effective l january 20191 fcharitie5 SORP {FRS102}-), the Finanoal Reporting Standard applioble in tht UK and Ireland (FRS 102)." the Companies Art 2006 and the Charlties Act 2011. Sodexo Stop Nun9er Foundation meets the definition of a public benefit entFty under FRS 102, Asset5 and Ilabilities are Snitially recognlsed at historical.cost or trnnsattion-value unbess otherwlse stated in the relevant accounting policy. The financial statements are presented in sterlin9 whTr¢h is the ftrnctional currency of the charity. Monetary amovnts on these Finandal Ststements are rounded to the nearest Él. Going concern The trustees have eonsidered the future income of the Charitable company and It5 ability to conb.nue as a going concern. The trustees maintain a policy whereby grant commitment5 are Only made if there is sufficient cash and unrestricted reseryes available to fulfil any. 9rant givin9 commltments for at least 12 months. Furthermore, grants are only awarded out of foundation income. rnther than the foundation being in a net deficit position between income and grants awarded. 8ased on these policles. the foundation would be experted to remain as a going concern for at least 12 months from the date of these accounts. The running costs of the foundation are met by a donation from Sodexo Mited and are reflerted in the restricted funds. Consequently the financhal statement5 have been prepared on a 90ing concem basis. Fund a¢countln9 Vnrestritted funds are expendable at the discretion of the trustees In furtherance of the objects of the charity. Vnre5tricted fvnd5 earmarket1 for particular purposes by the trustees are designated as separate funds. The designation has Jn administratyve purpose only, and does not legally restrict the trustees, discretion to apply the fund. Restrtcted funds are funds which are to be used ifi accordance w7th specTrfic restrittions imposed by donors or whlch" have been ralse*J by the Charitable compony for particular purposes. .The costs of raSsSn9 and administering such furbds are tharged against the speofic fvnd. The aim and use of each restricted fund is set ovt in the notes to the financial statements. Zncoffje All income 15 recognised once the Charitable company has entrtlement to the income, it is probable that the inctsme will be received and the amount of income rettivable can be measured reliably. Employee tlrrie donated by Sodexo Limited is recognised as being the estimated cost to Sodexo Limlted. and is induded within both Income and expenditure in these financial statements. 16
. Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 August 2023 Accoyntlll9 Policies Expenditure Expenditu Is charged on an accruals basis, inclusNe of irrecoverable VAT. Charitable activities ¢omprise those costs directty incurred in pursuance of the Charitable company's charltable actlvitles. These costs are mainly donations and grants mède by the Charitsble company. Where Costs cannot be dlrectly attributable to partlcular headin9S they have been allocated on a basis consistent with the use of resources. Fundraising Costs are those incurred in seeklng voluntary contril)utions and do nrt include the costs of disseminating Information in support of the charitable activities. Govemance costs a those incue in connection with administration of the Charitable company and compliance with constitutional and statutory requirements. All grants are reco9nised in fvll when committed to. The trustees are responsible ftsr èppmving the charity grants. Grants made by the Charitable company are recoftled when the commitment is made on a paid basés or where an irrevocable commitment to make such payment has been made. Taxatlon The Charitable company is considered to pass the tests set out in Paragrnph I Schedule 6 of the" FINan Act 2010 and therefore it meets the definition of a Charitable company for UK corporatlon tax purposes. Accordingly, the Charitabk company is potentially exempt from taxation In SpeCt of income or ¢apital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Art 2010 or Sectbon 256 of the Taxation of Chargeable Gains Art 1992, to the extent that such income or gains are applied exdusivefy to charitable purposes. Flnancl•l iThstNments The Charitable company has elected to apply the provision5 of Sertion 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial Instruments, Cash at l)ank and in hand Cash at bank and in hand Includes cash and short temi highly liquld Investments wlth a shon rnatty of three months or less from the ijate of acquisition or openlng of the deposit or similar account. Debtors Trade and other debtor5 are recogni5ed Ot the settlement amount due after.any trade dlscount . offered. Prepayments are valued at the amount prepaid. Flnanclal assets. other than those held at fair value through profit and loss,"are assessed for IrKlicators of rmpairment at each reporting end date. Financial a55ets a impaired where there is objective evidence that. as a result of one or more events that occurred after the inibal reco9nition of the financial a55et. the estimated fvture cash flows have been affected. The impairment loss is recognised in the income and expenditure a¢¢ount. Creditors, loans and provision Creditors, loans and provTrsions are recognised where the Charity has a psent obllgatlon reSUlng from a past event that will probably result in the transfer of funds to a third party bnd the amount due to'settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade dlscounts due. Financlal liabilltle5 are only derecognlsed when. and only when. the charlty's obllgatns are discharged, cancelled. or they expire. Amounts recognlsed as provisions are best estimate5 of the consideration required to settle the present obligation at the reportlng end date. taking into account the risks and uncertainties surrounding the obligation. 17
Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 August 2023 Crltical accountiiig estim•tes and judgements In. the application of the charity's accountin9 policTres. the trustees are required to make Jud9ernents, estimates and assumptions about the carrying. amount Of assets. and liabllities that are not readily apparent from other sources. The esb"mates and associated a55umptions are based on historical expenence and other faetofs that are considered to be relevant. Actual results may differ from these estr"mates. The estlmates and underlying assumptions are reviewed on an ongoing basts. Revlsions to accounting estimates are recognised in the period in which the estimate Is revised, If the revision affects only that period, or in the perio(J of the revision and fvture periods if the revislon affects both current and future perfiods. The estimates and assumptions which have a significant risk of causing a material adJ"ustrnent to the carying amount of assets and liabilities are outlined bÈlow: .Income fr¢>m, and c05t of tlrne donated by Sodexo UK empl•yees Donated employee time as seen in note 2 has been colculated based on the salary per day of each employee who donated time from Sodexo UK. multiplied by the number of days spent W¢*rklng for the charity. As seen in notes 5 and 6. the c05t of this time 15 re¢ognised according to whether the employee has been using the time for fvndraising or towards the charitable activitie5. As 411 time 15 ' expended upon 'donation'. income and cost of time donated have a nil effect on the net rnovement In funds. As Sodexo UK donate this time to fulfil the charity's needs, It has been recognised in restri¢ted funds. Trustee5 consider that there are no other uitical estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial 5totements. 18
Sodexo Stop Hunger Foundation Notes to.the Financial Statements for the year ended 31 August 2023 Income frnim donations Unrestrfct•d funds 2023 funds 2023 Total 2023 Foundatlon Dinner donations Income from Sodexo Limited Donated em lo ee time 108.429 108.429 196 577 196 577 196,577 305,006 108 429 Vnrestrfrted funds Z02Z Restrlcted funds 2022 Total. 2022 Income from Sodexo MIted Oonated em lo .ee time 148 056 148 056 148,056 148,056 Incom• from fundraising •Ctlvities Total 2023 Totsl 2022 Income raised by Sodexo employees- Foundation Dinner {see note below) Sodexo UK employee lottery other 170,307 132,751 301 919 604 977 167,583 250 908 418 491 All Income fundraising activities are unrestricted In both the current and prevknus financlal year. Invegtment In¢ome Total 2023 Total 2022 Bank Interest received 83 All investment income in'both years is VAStrICted. . Costs of raising funds Restrfcted funds 2023 nds 2023 Total 2023 Golf day Dinner costs Sodexo UK employee lottery Cost of tlme donated. by Sodexo UK of employees for ftsndraiyng activities Other 1.2S3 54,487 104,558 1.253 54.487 104.558 81.947 81.947 260 593 19
Sodexo Stop Hunger Foundation Notes to the Flnancial Statements for the year ended 31 August 2023 Costs of raising funds (continued) Unrestrirted Restricted . funds 2022 Total 2022 2022 Golf day Sodexo UK employee lottery Cost of time donated by Sodexo UK of employees for hjndraising artivities Other 433 105.616 433 105,616 80.347 . 80,347 23 186 419 23 106 072 Charltabl• •rtlvltOes Unrestrlcted Restrlcted funds funds 2023 2023 Total 2023 Note Dlrect costs Grants Cost of time donated by Sodexo UK of ern lo ees for volunteerin oses 443,733 . H3,733 114 630 114,630 114 630 558,363 443.733 Support eosts Bank charges Bad debt provi510fb Audit and accountsn 78 {1,800) 78 (1,800) fee5 459 141 114630 573 771 Unrestrirted funds 2022 Restrirted funds 2022 Total 2022 Note Dirtrt ttssts Grants Cost of time"donated by Sodexo UK of em lo ees for volunteerin ur oses 212.430 212.430 212.430 67.709 280,139 Support costs Bank charges Bad debt provision Audit and accountan 568 9.600 568 9,600 fees 238 156 305 865 20
Sodexo Stop Hunger. Foundation . Notes to the Financial Statements for the year ended 31 August 2023 Analysls of grants 2023 2022 Grants to instltutions Fareshare 120.000 90.000 Trussell Trust 55.000 SSAFA Forces"Help CoFarm 53,500 36.000 25,715 25.000. 25.000 22.000 35,000 10.000 Lust for Life" Oasls UK Enartus 12.000 Is,000 Made sn Hackney Alexander Rose Charity. The Porch ii.'ooo 11.000 11.000 10.000 Voices In Exlle Edinburgh Food Social The Bread and Butter Thing Black Heart Foundation 12,000 10.000 10.000 10.000 9.832 Switch Focus Ireland 7.686 NewBlgin Trvst yorkshi Children's Cent i.OOD 9,320 9.750 9.360 Chapter One 443,733 212.430 The grants pald to the institutions Ilsted above. have all been made with the purpose of delivering the charltable objectives of Sodexo Stop Hunger Foundation.
Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 Au9USt 2023 Audltorfs remuneratlon The analysi5 of auditorf5 reMUneTrtn 15 45 lollo¥Ys (exduding VAT): Total 2023 Tot•1 2022 Audit of financial statemertts All other non-audit services 12,845 11.200 staff Vbumber and costs The trustees ceiVed no emobjments lor thelr services. nor were they reimbursed for any expenses in the period. The total number of staff working on Sodexo Stop HLFnger Foundation was 26 {.2022 - 26). Staff a not paid by Sodexo Stop Hunger FoundatKJn and an estlmate of the value of thls tlme Is included as a donation from Sodexo Services Limited in. note 2 and within ftJndrai5ing costs In note 5. In addition 1.879 {2022 431) Sodexo staff volunteered at tharities such as Fareshare and Tnjssell Tnjst during the year. Their Éontribution has been recognised as è donation from Sodexo within note 6. IP. Fixed asset investments UK Ilst•d $e¢uritie5 Market Value At I September 2022 Gains on revaluation At31Au USI 2023 3.840 288 Shares htld in: 2023 2022 ITV Pk Com as5 Grou 142 123 PLC The hlstorical cost of the Investments is £681 (2022 - £6811. 11. Debtor 2023 2022 Trade debtors 3,556 55.900 15 Amounts owed by related partles Prepayrnents and accryed income 22
Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 August 2023 12. Croditors: amounts falllng due within om year 2023 2022 Accruals for grants payable Accruals {exduding grants payable) Deferred income 20.000 1.37.194 21,952 108 429 Deferred income: Deferred income at I September 2022 Income release(J in the year Income deferred in the year Deferred income at 31 Au9USt 2023 108,429 {108.429) 13. Statement of funds For th• year end•d 31 August 2023 B•lanc• at I September 2022 Balance at 31 Au9USt 2023 Income ExndItUre Galns Unrestrirted fvnds Restricted funds.. Donèted employee time aiJministratSon and trustees Donated employee time charity partner volunteers Total restrfjcted funds Total funds 250 335 714 612 637 787 288 81.947 (81.947) 114 630 196 577 911 189 114 630 196 577 250 335 288 For the year end 31 August 2022 Balance at I Séptember 2021 Balance at 31 Au9USt 2022 In¢om• Expendi Gains Unrestricted funds Restrlrted funds.. Donated employee tlme admlnistration and trustees Donated employee tirne charity partner volunteers Total restricted fiJnds Total funds 418 574 507 .250 335 80.347 (80.347) 148 056 566 630 148 056 492 284 507 250 335 23
Sodexo Stop Hung.er Foundation Notes to the Financial Statements for the year ended 31 August 2023 13. Statement of funds (wftinuad) Purpose of restricted funds DoThatlon from Sodexo Limlted for •dmlFhislTrtion The cost of time of Sodexo UK employees is the cost OF the time spent on the acwunting and 4dmini5tr4tion services and preparation of accounts for Sodexo Stop Hunger Foundation as well as the time of the Sodexo Stop Hunger Foundation trustees who are a150 emplgyees of Sodexo UK. Cost of time of Sodexo UK ¢mployets - Volunteers In addition to raisin9 funds to support its operations. Sodexo UK employees have volunteered thelr time during working hours to work at Fareshare's depots. prgvidin9 much needed additlonal resources, and to support large ad hoc Fareshare events. 14 knalysis of net assets betweeTh funds . Unr•stri¢t•d R•strlcted funds nds Total funds As?t31Au USt 2023 Fixed asset investments Current assets Creditors due within one 4,128 480,514 157 194 327,448 4.128 480,514 157 194 327,448 ear . Unr•strlcted Restrirted funds funds Total funds Asat31Au u*t 2022 Fixed asset investments Current èsset5 Credltors due wlthin one 3,840 376,876 130 381 250.335 3,840 376.876 130 381 250,335 ear 15. Reconclliatlon of net Movement in funds to nettssh flow from optratln9 actlvltles . 2023 2022 Net Income for the year 77.113 74.853 Adjustment for: Gains on investments Income from investments Decrease Ilincreose) in debtors Increase In treditors (288) {1,206) 62,365 26,813 1507} (83) (58,253} 99,089 Net ush rovided b ratin activlti•s 115 099 The charity had no debt during the year rrent or previous finanoal year. 16. R•l•ted party trnnsartions Durin9 the year £196.577 (2022 - £148,056) was donated to restricted funds relating to the runnin9 Costs of the Foundation. Sodexo Limited is the tradin9 company which holds the employees who rnise fvnds for the Sodexo Stop Hun9er Foundation. The amount donated from Sodexo Lirnited for employee tome also includes £16,626 12022 - £16,300) in relation to trustee time specifically. At the ytar end the debt owed by Sodexo rnIted was £nll 12022 É15). 24
Sodexo Stop Hunger Foundation Notes to the Financial Statements for the year ended 31 August 2023 17. Comparative Statement of Flnancial Activltles {XnduOin9 Income and Éxpend5tur• Account) for the year •nded 31 Au9USt 2022 Unrestrirted Restrirted funds funds 2022 2022 Total funds 2022 Income from: Donations Fundralsrng actlvltres Investments 148.056 148,056 418,491 83 418.491 83 Total income 418 574 148 056 566 630 Expendlture on: Raising lunds 106.072 80.347 186.419 Charitable activitles 238 156. 305 865 Total ex endltur• Net ains on investments 507 507" Net rnovement in funds 'Reconclliatlon of funds: Total funds brou ht forward 175 482 Total funds carrled forwanl 250 335 250 335 25