2022-03-31-accounts - Gloucester Foodbank

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Company number: 05402066 Charity Number: 1113515

Trustees report and financial statements

For the year ended 31 March 2022

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Gloucester Foodbank

Reference and administration information

Company number 05402066 Charity number 1113515

Registered office and operational address

The George Whitefield Centre 107 Great Western Road Gloucester GL1 3NF

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

David Walker Chair, acting Treasurer Lorraine Best Stephen Cresswell Julia Evans James Holliday Philip Rodford Andrew Cook resigned 28 February 2022 Patrick Prosser resigned 22 August 2022

There were no trustees who held title to property belonging to the charity during the reporting period or at the date of this report.

Key management personnel

Anneliese Sterry Manager James Holliday Secretary

Bankers

Barclays plc

Solicitors

Sherbornes Solicitors Ltd, 4 Royal Crescent, Cheltenham, Gloucestershire GL50 3DA

Independent Examiner

Patrick Morrello ACA

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester, M60 0AS

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Trustees’ annual report for the year ended 31 March 2022

The trustees present their report and the unaudited financial statements for the year ended 31 March 2022. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The following are the objects of the Charity and are for the benefit of the community of Gloucester and the surrounding area and are to be undertaken with a Christian ethos:

To relieve poverty and financial hardship
To advance education, and
To promote and protect good health

In order to fulfil its objects, the charity operates the Gloucester Foodbank, providing emergency food supplies for those in crisis as identified by other local agencies. The project has continued to provide a temporary, practical stopgap through food and toiletries distribution to those who are in a position of crisis. Free emergency food is provided for 3 days, and often repeated up to twice more which is often the time it takes for the appropriate agencies to be in a position to assist. The food is distributed in exchange for vouchers issued to individuals according to need by nearly one hundred local agencies and social services.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The charity's main activities and who it tries to help are described below. All its charitable activities focus on the provision of food for those in need, and are undertaken to further the charity’s charitable purposes for the public benefit.

Our donations of food come from 4 main sources:

We have 19 permanent collection points located in all the major supermarkets across the city and the surrounding area allowing the general public to make food donations when they are shopping. Tesco also provide an additional cash payment of 20% of the cash equivalent volume of food donated at its stores.
We rely on schools at Harvest Festival time for food collections.
We also receive food donations from the many churches across the city.
Many local businesses sympathetic to our cause also provide both food and cash support.

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Gloucester Foodbank

Trustees’ annual report for the year ended 31 March 2022

Much of the donated food is collected by ourselves with one of our vans, and we also receive in person food donations at our base in the George Whitefield Centre. All the food collected is then sorted ready for distribution by our many volunteers who come from all walks of life, and are predominantly retired or semi retired.

Annual Statistics	2021-2022	2020-2021
Number of parcels for children provided with 3- days emergencyfood	2,079	199
Number of parcels for adults provided with 3-days emergencyfood	3,576	335
Number of parcels for children provided with 7- days emergencyfood	1,144	2,581
Number of parcels for adults provided with 7-days emergencyfood	2,072	4,811
Total number of foodparcels	8,871	7,926
Total food, toiletries & household goods distributed to localpeople	104,870 kg	126,984 kg
Total food, toiletries & household goods donated bylocalpeople	116,110 kg	142,733 kg
Active agencies workingas distributors of vouchers	85	81
Inactive agencies	61	67
Total number of agencies registered with Gloucester Foodbank as distributors of vouchers	146	148
Churches providing volunteers, food & toiletries	44	32
Schools, nurseries & toddler groups supporting foodbank throughout the year	54	54
Number of volunteers	70	65

In September 2021 we opened a distribution centre in Elim Church Gloucester where a team of volunteers could meet clients face to face and clients could collect their parcels of food. Also, covid restrictions were easing which meant that clients were more able to access support. In light of these circumstances, to remain sustainable and avoid confusion we returned to the previous model of supplying parcels with enough food for 3 days instead of 7- days.

The number of schools has usually reflected the number of colleges, playgroups etc that have supported us at various times throughout the year. For instance, a few secondary schools collected and donated food and other goods to us last Christmas, but not at Harvest time.

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Gloucester Foodbank Trustees’ annual report for the year ended 31 March 2022

Beneficiaries of our services

Of the 8,871 food parcels that we have distributed in the last year 50% of these were for adults of working age (2564) and 36% for children. Of the food parcels distributed for children, 43% of those were for children aged 5-11.

Of the reasons given for requiring help from the Foodbank 56% were stated as low income and 15% were stated as benefit delays and changes.

Of the total food vouchers that were issued 55% were for single people and single parent families accounted for the next highest at category at 18%. There were four main districts of Gloucester accounting for 49% of all parcels distributed, suggesting that these were the main areas of economic deprivation in the city.

Financial review

Gloucester Foodbank has been reliant on donations from individuals, grant making trusts, churches and the Tesco scheme, which as stated above provides 20% of the value of food, collected at local Tesco stores. Our fund raising programme has been equally successful this year and there has been a brilliant response from the general public reflecting the need during the second year of the Covid pandemic. Donations from individuals have also increased and this has been very encouraging. Further details are provided in the Statement of Financial Activities.

During the year the charity continued to rent the current premises under a licence agreement, and until the end of June 2021 continued to sublet 23% of the premises to The NHS Homelessness Care Team providing additional income. The George Whitfield Centre has now in effect become a warehouse from which food parcels are distributed, and the method has been delivery only.

The charity’s total income for the year was £330,539 (2021: £479,923) of which £183,522 (2021: £200,048) was donations in kind, made up of donated goods and £3,473 (2021: £12,371) sublet income. Total expenditure was £308,902 (2021: £322,756) including donated goods values as above. The surplus for the year was £21,637 (2021: £157,167).

At the end of the financial year the charity’s total funds stood at £263,032 (2021: £241,395) of which £253,797 was unrestricted (2021: £232,160) and £9,235 was restricted (2021: £9,235).

The restricted fund is to provide white electrical goods for those clients in need when the Foodbank was previously operating on a fact to face collection basis. With the switch to delivery only due to covid clients in need of such assistance have not been identified as readily. With the reopening of distribution centres it is expected this this will change going forward.

The trustees agreed that the treatment of income and expenditure relating to the operation of the Foodbank as restricted in previous accounts was incorrect, since the Foodbank is the principal activity of the charity. In addition, £170,000 was designated during the previous year towards costs of moving to larger premises, which it had hoped would happen in the 2021/22 year. These financial statements therefore restate the prior year income and expenditure and balances as at 31 March 2021 correctly, showing £170,000 of the unrestricted funds as designated to the future building fund.

Reserves policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviews the reserves policy annually and agrees an appropriate level of unrestricted general funds, also known as free reserves, given the risks faced by the charity and the sustainability of its different income streams.

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Gloucester Foodbank Trustees’ annual report for the year ended 31 March 2022

It is the policy of the charity that total reserves should be maintained at a level equivalent to at least three months’ total expenditure, excluding the use of donated goods, with the objective that the Charity is able to continue with its activities for the duration of any temporary fall in funding.

Total expenditure, excluding the use of donated goods, amounted to some £125,000 for the year; the minimum reserves target is therefore around £31,250. As mentioned above, the trustees have designated £170,000 for the purpose of relocating and securing suitable premises going forward in order to secure the tenure of the Foodbank for up to 5 years since the existing premises are insufficient due to their size and layout.

At the year-end free reserves, available for use on the general activities of the foodbank (ie excluding the designated fund) amounted to £83,797 which is more than satisfactory.

Future plans

The trustees intend to continue running the Gloucester Foodbank on existing lines, namely delivery only for the majority of the food parcels. However, at the same time the charity plans to develop with the Trussell Trust the ‘More than Food’ programme, which includes advanced sign posting, financial and budgeting advice. During the year we opened a distribution centre at Elim Church where clients can visit and collect their food parcels. This provides a balanced delivery model with collection as well as delivery and we have plans to open more of these to improve our geographical spread across the city and surrounding areas in the coming years.

With the increase in demand for food over these last 2 years it is now apparent that we have outgrown our current location and are proposing to move to larger premises when one can be found, and we hope to be able to secure a place in 2023. We are also looking at the feasibility of sponsoring, in partnership with GL Communities, the provision of a Financial Inclusion initiative. This will fund a Financial Inclusion Advisor who will provide financial budgeting, debt advice and benefit maximisation for clients using the foodbank who feel they would benefit from this extra support. This funding will be made available by Trussell Trust and is part of their nationwide initiative to provide a more rounded solution for those in crisis.

Structure, governance and management

Gloucester Foodbank is a charitable company limited by guarantee, incorporated on 23 March 2005 and registered as a charity on 31 March 2006.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

The directors of the Charity are also charity trustees for the purposes of charity law and under the company's articles. Under the requirements of the Memorandum and Articles of Association, at the Annual General Meeting, one third of trustees for the time being or, if their number is not three or a multiple of three, then the number nearest one-third shall retire from office. A retiring trustee shall be eligible for re-election.

The board of trustees has the power at any time, to appoint any person to be a trustee. Any trustee so appointed shall hold office only until the next following Annual General Meeting, and shall then be eligible for election.

Trustees are there as individual members in their own right and not representing any organisation and are recruited with the aim of achieving a broad range of specialist knowledge, skills and experience to provide governance and legal responsibility for the organisation.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Gloucester Foodbank

Trustees’ annual report for the year ended 31 March 2022

All trustees give their time voluntarily and receive no benefits from the charity. No expenses were claimed from the charity during the year (2021: nil).

Related parties and relationships with other organisations

There were no related party transactions.

The charity is a member of the Trussell Trust’s network of over 400 foodbanks, working to tackle food poverty and hunger in communities across the UK. The charity is grateful for the support, guidance and grant funding received from the Trussell Trust.

The charity works closely with other organisations and agencies active in the community to identify people in need. The top seven agencies for referrals during the year were:

GL Communities
Help Through Hardship
Gloucester Citizens Advice
YMCA
P3
Nelson Trust
Probation Service

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

19 / 12 / 2022

The trustees’ annual report has been approved by the trustees on …………………… and signed on their behalf by

………………………………………. David Walker, Chair of Trustees

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Gloucester Foodbank

Independent Examiner’s report for the year ended 31 March 2022

Report to the trustees

I report on the accounts of the charity for the year ended 31 March 2022 set out on pages 8 to 19.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

19 / 12 / 2022

Patrick Morrello ACA Third Sector Accountancy Limited Holyoake House Hanover Street Manchester M60 0AS

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Gloucester Foodbank Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2022

Unrestricted funds Note £ Income from: Grants and donations 3 327,066 4 3,473 Total income 330,539 Charitable activities 5 308,902 Total expenditure 308,902 6 21,637 Transfer between funds - Net movement in funds for the year 21,637 Reconciliation of funds Total funds brought forward 232,160 Total funds carried forward 253,797 Net income/(expenditure) for the year Rent receivable	Restricted funds £ - - - - - - - - 9,235 9,235	Total funds 2022 £ 327,066 3,473 330,539 308,902 308,902 21,637 - 21,637 241,395 263,032	As restated Unrestricted funds £ 467,552 12,371 *479,923* 322,756 *322,756* *157,167* *60,371* *217,538* 14,622 *232,160*	As restated Restricted funds £ - - - - - - *(60,371)* *(60,371)* 69,606 *9,235*	As restated Total funds 2021 £ 467,552 12,371
					*479,923*
					322,756
					*322,756*
					*157,167* -
					*157,167* 84,228
					*241,395*

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Gloucester Foodbank

Company number 5402066

Balance sheet as at 31 March 2022

Note £ £ Fixed assets Tangible assets 11 11,377 Total fixed assets 11,377 Current assets Debtors 12 11,236 Cash at bank and in hand 243,037 Total current assets 254,273 Liabilities Creditors: amounts falling due in less than one year 13 (2,618) Net current assets 251,655 Total assets less current liabilities 263,032 Net assets 263,032 The funds of the charity: Restricted income funds 14 9,235 Unrestricted income funds 15 253,797 Total charity funds 263,032 2022	£ £ 19,679 *19,679* 4,990 216,726 *221,716* - *221,716* 241,395 *241,395* 9,235 232,160 *241,395* 2021 As restated	£ £ 19,679 *19,679* 4,990 216,726 *221,716* - *221,716* 241,395 *241,395* 9,235 232,160 *241,395* 2021 As restated
		*19,679* *221,716*
		241,395
		*241,395*
		9,235 232,160
		*241,395*

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 10 to 19 form part of these accounts.

19 / 12 / 2022

Approved by the trustees on ................................... and signed on their behalf by:

David Walker, Chair of Trustees

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Gloucester Foodbank meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

b Judgments and estimates

Key judgments which the trustees have made which have a significant effect on the accounts include valuing donated goods when distributed at £1.75 per kilo, as recommended by the Trussell Trust.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022

e Donated goods, services and facilities

Goods donated for distribution to beneficiaries are recognised as incoming resources only when distributed, with an equivalent amount being included as resources expended under the heading of charitable activities. Goods donated are valued at £1.75 per kilo, which is a commonly adopted valuation method among similar charities.

Donated professional services and donated facilities are not recognised as income. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:

Expenditure on charitable activities includes all costs incurred in furthering the purposes of the charity.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Tangible fixed assets

Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Motor vehicles	33%
Office fixtures and equipment	25%

i Stock

Donated items of stock are not valued in the accounts since they are recognised only when distributed. Although a small amount of goods are purchased for distribution, any stock held is not valued since the value is not material.

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022

j Debtors

Gift Aid claimable on donations received has not previously been recognised in prior years, but since this is a material amount it is now recognised at the anticipated value. Any trade or other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 7 and outstanding contributions due at the year end were not material.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office address is disclosed on page 1.

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

3 Income from donations and legacies

Grants Donations Donations in kind Total 4 Rent receivable: sub letting premises Rent receivable	Unrestricted £ 33,837 109,707 183,522 327,066 Unrestricted £ 3,473 3,473	Restricted £ - - - - Restricted £ - -	Total 2022 £ 33,837 109,707 183,522 327,066 Total 2022 £ 3,473 3,473	Unrestricted £ 57,073 210,431 200,048 467,552 Unrestricted £ 12,371 12,371	Restricted £ - - - - Restricted £ - - As restated	Total 2021 £ 57,073 210,431 200,048
						467,552
						Total 2021 £ 12,371
						12,371

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

5 Analysis of expenditure on charitable activities

Rent and other property costs Staff costs Office and administration Insurance Depreciation Legal and professional fees Accountancy and independent examination Vehicle running costs and sundry Food purchases In kind donations distributed Restricted expenditure Unrestricted expenditure 6 Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation Accountancy fees 7 Staff costs Staff costs during the year were as follows: Wages and salaries Pension costs Independent examiner's fee	2022 £ 39,474 46,353 3,856 3,562 10,035 6,004 1,800 4,294 10,002 183,522 308,902 - 308,902 308,902 2022 £ 10,035 1,440 360 2022 £ 45,299 1,054 46,353	2021 £ 42,492 47,011 2,458 2,446 9,839 4,654 - 8,570 5,238 200,048
		322,756
		- 322,756
		322,756
		2021 £ 9,839 - -
		2021 £ 45,378 1,633
		47,011

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

No employee has employee benefits in excess of £60,000 (2021: Nil).

The average number of staff employed during the year was 3 (2021: 3). The average full time equivalent number of staff employed during the year was 2 (2021: 2).

The key management personnel of the charity comprise the trustees and the Manager. The total employee benefits of the key management personnel of the charity were £21,854 (2021: £20,692).

8 Trustee remuneration and expenses, and related party transactions

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2021: Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).

9 Grants and donations

Grants and donations were gratefully received from the following organisations and public sector bodies:

Trussell Trust SK Heating and Cooling City of Gloucester The Henry C Hoare Charitable Trust Rotary Club of Gloucester Unite the Union Groundwork UK Arnold Clark Auto Summerfield Trust County of Gloucester Gloucester Police and Crime Commissioners Other small donations received for foodbank Foodbank donations in kind received - see below	2022 £ 8,012 8,000 5,000 4,700 4,000 2,000 1,125 1,000 - - - 109,707 183,522 327,066	2021 £ 12,051 - 5,000 7,000 4,000 - - - 13,000 9,022 7,000 210,431 200,048
		467,552

There were no unfulfilled conditions and contingencies attached to any grants or donations. Donations of food and other household goods were valued at £1.75 per kilo distributed, which is a commonly adopted valuation method among similar charities.

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

10 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

11 Fixed assets: tangible assets

Cost Additions Depreciation Charge for the year Net book value At 31 March 2021 At 31 March 2022 At 1 April 2021 At 1 April 2021 At 31 March 2022 At 31 March 2022	Motor Vehicles £ 29,518 - 29,518 9,839 9,839 19,678 9,840 19,679	Office equipment £ 5,743 1,733 7,476 5,743 196 5,939 1,537 -	£ 35,261 1,733 Total
			36,994
			15,582 10,035
			25,617
			11,377
			19,679

12 Debtors

Prepayments Accrued Gift Aid income	2022 £ 4,990 6,246 11,236	2021 £ 4,990 -
		4,990

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

13 Creditors: amounts falling due within one year

Creditors and accruals PAYE and pension contributions	2022 £ 1,800 818 2,618	2021 £ - -
		-

14 Analysis of movements in restricted funds

npower grant Total *Comparative period* Foodbank npower grant Total	Balance at 1 April 2021 £ 9,235 9,235 Balance at 1 April 2020 £ 60,371 9,235 69,606	Income £ - - Income as restated £ - - -	Expenditure £ - - Expenditure as restated £ - - -	Transfers £ - - Transfers as restated £ (60,371) - (60,371)	Balance at 31 March 2022 £ 9,235
					9,235
					Balance at 31 March 2021 as restated £ - 9,235
					9,235

Name of restricted fund Description, nature and purposes of the fund

Foodbank The unrestricted funds relating to the operation of the Foodbank were wrongly shown as restricted in the previous financial statements. The correction of this is shown as a transfer above to restate and correct the balances at 31 March 2021. npower grant To finance purchases of white goods for clients who are in need and are unable to finance such purchases from their own resources.

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

15 Analysis of movement in unrestricted funds

*Comparative period* General fund General fund Future building fund Future building fund	Balance at 1 April 2021 £ 62,160 170,000 232,160 Balance at 1 April 2020 £ 14,622 - 14,622	Income £ 330,539 - 330,539 Income as restated £ 479,923 - 479,923	Expenditure £ (308,902) - (308,902) Expenditure as restated £ (322,756) - (322,756)	Transfers £ - - - Transfers as restated £ (109,629) 170,000 60,371	As at 31 March 2022 £ 83,797 170,000
					253,797
					Balance at 31 March 2021 as restated £ 62,160 170,000
					232,160

Name of unrestricted fund Description, nature and purposes of the fund

General fund The free reserves after allowing for all designated funds

Future building fund Costs of securing new premises, including relocation costs, legal fees and higher rental. This fund was agreed in the year ended 31 March 2021 but was not reflected in the financial statements for that year, so has been restated as above.

16 Analysis of net assets between funds

Tangible fixed assets Net current assets/(liabilities) Total	General fund £ 11,377 72,420 83,797	Designated funds £ - 170,000 170,000	Restricted funds £ - 9,235 9,235	Total 2022 £ 11,377 251,655
				263,032

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Gloucester Foodbank

Notes to the accounts for the year ended 31 March 2022 (continued)

*Comparative period* Tangible fixed assets Net current assets/(liabilities) Total	General fund £ 19,679 42,481 62,160	Designated funds £ - 170,000 170,000	Restricted funds £ - 9,235 9,235	Total 2021 £ 19,679 221,716
				241,395

17 Restatement of prior year balances

In previous accounts income and expenditure relating to the operation of the Foodbank has been treated as restricted. This was incorrect as the Foodbank has been and continues to be the principal activity of the charity. In addition, £170,000 was designated during the previous year towards costs of moving to larger premises, which it had hoped would happen in the 2021/22 year. These financial statements therefore restate the prior year income and expenditure and balances at 31 March 2021 correctly, showing unrestricted funds of £232,160 of which £170,000 were designated to the future building fund.

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