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← Salford Loaves And Fishes Ltd

2023-11-30-accounts

Charity registration number 1124460

Company registration number 06015231 (England and Wales)

SALFORD LOAVES AND FISHES LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

SALFORD LOAVES AND FISHES LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr P C Ashton Mrs E M Cursaro Councillor J Warmisham H E Mountney (Appointed 11 January 2023) Mr J Walsh (Appointed 19 January 2023) Charity number 1124460 Company number 06015231 Independent examiner David Kay FCA Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton

Solicitors Addleshaw Goddard LLP One St Peter's Square Manchester

SALFORD LOAVES AND FISHES LIMITED

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 20

SALFORD LOAVES AND FISHES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023

The trustees present their annual report and financial statements for the year ended 30 November 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 and "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)" (effective 1 January 2019).

Objectives and activities

Objectives

The charity's objectives at: to relieve poverty, hunger and sickness and preserve and protect the good health, physical and mental well-being of homeless, disadvantaged and vulnerable people in Salford and its surrounding area. Further, we aim to assist those we help to achieve their own potential, through education, mentoring and activities.

In 2023 we updated the Objects in our Articles of Association to reflect the growth in the services and support that we provide to the community. It also reflects the shift in needs, the additional needs caused by economic pressures. While our Drop In Centre is core to everything we have done since we were first formed, our aims now also encompasses the work done in our Skills For Life so as well as provision of care and support we are now helping people to break the cycle of their situation and to achieve their potential in life, well-being and assist those that are ready to full-time employment.

We operate a drop-in centre at 1 Paddington Close, and a Skills For Life Centre at 3 Paddington Close where we provide classes and training.

The demand on our services has increased tremendously in the past few years. We see a growth in food poverty and people affected by the escalation in energy crisis that have brought even more people needing our help. While our income has grown, we still do not have a consistent, guaranteed annual income and we have to work continuously to apply for new sources of funding.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. The trustees are satisfied that the charity's activities clearly continue to provide public benefit.

Activities

At Salford Loaves and Fishes, we welcome all demographics to the Drop-In Centre, and support the homeless, isolated and vulnerable people.

We are the only drop-in centre in Salford offering support and services such as food, tailored practical TraumaInformed support from our support specialists, and shower/laundry facilities. We have support workers helping with any issues a person may face, serving hot and cold drinks, breakfast and a nutritional lunch each day (an average of 70 lunches a day). We have shower, laundry facilities; and supply emergency food and toiletry provisions and have clothing on site. We operate as a warm hub in the colder months and have a pool table and host events such as bingo. We have a garden in which we run well-being sessions and a community plot at RHS Bridgewater that is visited every week.

The NHS inclusion service is based on site with a nurse and doctor available, an optician runs a clinic once a fortnight, Salford Foodbank is based in Salford Loaves and Fishes on Tuesday mornings, Citizens advice bureau operate every Thursday, Salford Council's housing teams (Rough sleepers team and SHOP) are based here twice a week as well as Greater Manchester Health's Drug and Alcohol services term are based here once a week. We also host monthly Blood Borne Virus testing, and offer counselling services once a week.

The Skills for Life Centre supports people into employment through a range of classes, courses and 1-1 guidance.

Citizens Advice Bureau, provide onsite help and advice on housing, benefits and welfare rights, debts and budgeting. Working with other agencies within the statutory/voluntary sectors to enable appropriate referrals to be made. Providing services aimed at providing people with as much independence as possible, giving them the skills, support and resources to allow them to live fulfilling lives.

SALFORD LOAVES AND FISHES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

All key roles are carried out by our employees; however the organisation is pleased to have volunteer help to assist in preparation and serving of food, collection of food donations, gardening around the drop-in centre. In addition, local companies, as part of their Corporate Social Responsibility programmes, have assisted with decorating and storage organisation

Achievements and performance

In 2023, we had an annual average of 92 people a day visiting us, equating to 21,726 visits from over 3,500 people per year.

We are unique in the range of services we offer and the ease with which our clients can access support, so demand is always high, and will only get higher. We try to meet the needs of our service users, whatever they may be, such as basic things such as food and drink, clothing, laundry and shower needs to support housing issues, letters received, debts, mental health or addiction problems. We pride ourselves on offering a non-judgemental service and supporting service users who may be banned from many other local organisations.

We offer a variety of on-site services by working alongside other local charities, for example: Salford Foodbank, Greater Manchester Health's drug and alcohol services team and the NHS inclusion service.

In the afternoon we run a structured activity plan, with sessions such as - arts & craft, conversation café, gardening, creativity sessions, cooking skills, Citizen Advice Group sessions and social activities.

The Skills for Life Centre supports people into employment. Supporting an additional 746 since it opened two years ago. In 2023, we created bespoke plans for 102 community members who are working towards gaining employment.

Financial review

The charity reported an increase in the year of £39,923 in unrestricted funds and £27,508 in restricted funds. Fund balances carried forward at the financial year end were £196,422 on unrestricted and £182,083 on restricted.

The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately 12 months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to the organisation's ongoing provision of care and support and ensure that governance costs are covered. The trustees consider that a level of 12 months is sufficient given the support of The Edward Holt Charitable Trust in the provision of the premises in which we operate the Drop-In Centre.

Specifically, as the income of Salford Loaves and Fishes does not have any significant continuous annual income from any sources, 12 months reserves is required to ensure adequate cashflow. At £175,623, our free reserves at the financial year end satisfy our target.

Plans for future periods

We are planning to continue to support the needs of homeless and vulnerable people in the Salford area into the future.

Structure, governance and management

The charitable company is a company limited by guarantee. It was incorporated on 30 November 2006 and became a registered charity on 10 June 2008. It is established under a Memorandum of Association which established our objects and powers. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.

SALFORD LOAVES AND FISHES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr P C Ashton Mr B Benhafsi (Resigned 2 May 2023) Mrs E M Cursaro Councillor J Warmisham Dr E Whelan (Resigned 17 January 2024) Mrs J Whelan (Resigned 17 January 2024) H E Mountney (Appointed 11 January 2023) P Mulcahy (Appointed 15 May 2023 and resigned 17 January 2024) Mr J Walsh (Appointed 19 January 2023)

None of the trustees has a beneficial interest in the company. As directors of the company they are also charity trustees under charity law. Trustees are recruited both by invitation and recruitment through traditional sources. New trustees are appointed by the Board of Trustees. New Trustees resign at the next AGM and can then be reappointed by the Members.

Prior to appointment, Trustees are introduced to the workings of the charity Trustees are made aware of their legal responsibilities as part of the induction process.

The chief executive officer of Salford Loaves and Fishes is Jennifer Anne Smith.

The trustees approve budgets, agree company policies and give guidance to the operations of the charity.

Operational decisions are made by the CEO including implementation of the plans and activities in support of the Charities aims.

The salary of the CEO is decided by the Board of Trustees.

The trustees' report was approved by the Board of Trustees.

Mr P C Ashton Trustee

27 August 2024

SALFORD LOAVES AND FISHES LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 NOVEMBER 2023

The trustees, who are also the directors of Salford Loaves and Fishes Limited for the purpose of company law, are responsible for preparing the Trustees' 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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.

SALFORD LOAVES AND FISHES LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SALFORD LOAVES AND FISHES LIMITED

I report to the trustees on my examination of the financial statements of Salford Loaves and Fishes Limited (the charitable company) for the year ended 30 November 2023.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Kay, FCA

Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton BL1 4BY

Dated: 27 August 2024

SALFORD LOAVES AND FISHES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
61,779
422,265
Charitable activities
4
17,582
-
Interest receivable
5
198
-
Other income
6
246
-
Total income
79,805
422,265
Expenditure on:
Charitable activities
7
39,882
394,757
Net income for the year/
Net movement in funds
39,923
27,508
Fund balances brought forward
156,499
154,575
Fund balances carried
forward
196,422
182,083		 Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
£
£
£
484,044
100,506
335,625
17,582
33,345
-
198
57
-
246
3,165
-
502,070
137,073
335,625
434,639
116,349
250,187
67,431
20,724
85,438
311,074
135,775
69,137
378,505
156,499
154,575		 Total
2022
£
436,131
33,345
57
3,165
472,698
366,536
106,162
204,912
311,074

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

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SALFORD LOAVES AND FISHES LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2023
£
180
385,846
386,026
(28,320)		 £
20,799
357,706
378,505
182,083
196,422
378,505		 2022
£
47,258
271,116
318,374
(16,205)		 £
8,905
302,169
311,074
154,575
156,499
311,074

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 27 August 2024

Mr P C Ashton Trustee

Company registration number 06015231

SALFORD LOAVES AND FISHES LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
20
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(16,888)
199		 £
131,419
(16,689)
-
114,730
271,116
385,846		 2022
£
(898)
57		 £
68,907
(841)
-
68,066
203,050
271,116

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

Charity information

Salford Loaves and Fishes Limited is a charity established under a trust deed. The registered office is 1 Paddington Close, Salford, England, M6 5PL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use and other expenses are allocated based on the portion of floor area that each activity uses.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 20% straight line Plant and equipment 25% straight line Fixtures and fittings 20% straight line Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
61,779
422,265
Donations and gifts
Edward Holt Trust
-
15,000
Forever Manchester
-
-
National Lottery
-
77,964
Salford Council
-
55,817
Salford CVS
-
130,000
Society of the Holy Child Jesus
-
-
The Booth Charities
-
24,100
500 Campaign
13,728
-
Pret Foundation
-
-
Zochonis
-
25,000
ESF Community Grant
-
-
Albert Gubay
-
70,530
Garfield Weston
-
-
Salford Ceremonial
13,856
Other
34,195
23,854
61,779
422,265		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
484,044
100,506
335,625
15,000
-
25,000
-
-
200
77,964
-
98,520
55,817
-
47,258
130,000
21,000
-
15,000
-
24,100
21,000
13,728
13,492
-
-
-
10,000
25,000
-
15,000
-
-
13,160
70,530
-
69,358
-
25,000
-
13,856
-
-
58,049
47,014
15,129
484,044
100,506
335,625		 Total
2022
£
436,131
25,000
200
98,520
47,258
21,000
15,000
21,000
13,492
10,000
15,000
13,160
69,358
25,000
-
62,143
436,131

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rough sleepers project 17,582 33,345
5 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 198 57
6 Other income
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Gift Aid and other income 246 3,165

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

7 Charitable activities

Counselling &
supervision
Kitchen & drop
in centre
Administration
2023
2023
2023
£
£
£
Staff costs
116,257
102,017
85,394
CAB Service & other
advisory
25,360
-
-
Kitchen supplies
12,544
-
-
Client activities
6,435
-
-
Training
2,606
-
-
Client welfare direct
support
4,571
-
-
167,773
102,017
85,394
Support costs (note 7)
10,504
51,366
11,153
Governance (note 7)
-
-
6,432
178,277
153,383
102,979
Analysis by fund
Unrestricted funds
28,339
4,089
7,454
Restricted funds
149,938
149,294
95,525
178,277
153,383
102,979		 Total
2023
Counselling &
supervision
Kitchen & drop
in centre
Administration
2022
2022
2022
£
£
£
£
303,668
114,207
81,644
55,907
25,360
14,532
-
-
12,544
12,500
2,816
-
6,435
3,715
-
-
2,606
1,291
-
-
4,571
6,988
-
-
355,184
153,233
84,460
55,907
73,023
9,617
46,874
10,169
6,432
-
-
6,276
434,639
162,850
131,334
72,352
39,882
36,444
52,355
27,550
394,757
126,406
78,979
44,802
434,639
162,850
131,334
72,352		 Total
2022
£
251,758
14,532
15,316
3,715
1,291
6,988
293,600
66,660
6,276
366,536
116,349
250,187
366,536

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

8 Support costs allocated to activities

Counselling &
Supervision
Kitchen &
Drop in centre
Administratio
n
2023
2023
2023
£
£
£
Basis of allocation
Premises
Floor area
5,290
24,425
5,234
General office expenses
Floor area
3,787
17,673
3,787
Communications
Floor area
1,102
5,140
1,101
Depreciation
Usage
299
3,745
949
Bank Charges
Floor area
73
344
74
Governance
6,432
-
-
16,983
51,327
11,145		 Total
2023
£
34,949
25,247
7,343
4,993
491
6,432
79,455		 Total
2022
£
32,579
22,128
7,448
4,245
260
6,276
72,936

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

10 Employees

The average monthly number of employees during the year was:

Counselling, advice and information
Kitchen and drop in centre
Administration
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
6
4
4
14
2023
£
281,253
16,384
6,031
303,668		 2022
Number
6
5
3
14
2022
£
243,097
5,108
3,553
251,758

The charity operates a stakeholder pension scheme which all the staff have opted to take up.

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The key management personnel of the charity are the trustees and the Chief Executive Officer. During the year the total employee benefits of key management personnel, including any employer pension contributions, was £53,232 (2022 £12,163).

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

12
Tangible fixed assets
Leasehold
improvements
Plant and
equipment
Fixtures and
fittings
Computers
£
£
£
£
Cost
At 1 December 2022
7,759
16,844
14,968
6,415
Additions
-
6,447
7,269
3,172
At 30 November 2023
7,759
23,291
22,237
9,587
Depreciation and impairment
At 1 December 2022
7,759
13,472
11,483
4,367
Depreciation charged in the year
-
1,840
1,981
1,173
At 30 November 2023
7,759
15,312
13,464
5,540
Carrying amount
At 30 November 2023
-
7,979
8,773
4,047
At 30 November 2022
-
3,372
3,485
2,048
13
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
180
Prepayments and accrued income
-
180
14
Creditors: amounts falling due within one year
2023
£
Other taxation and social security
5,296
Trade creditors
16,081
Other creditors
1,591
Accruals and deferred income
5,352
28,320
15
Retirement benefit schemes
2023
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
6,031		 Total
£
45,986
16,888
62,874
37,081
4,994
42,075
20,799
8,905
2022
£
-
47,258
47,258
2022
£
3,981
5,613
1,511
5,100
16,205
2022
£
3,553

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

15 Retirement benefit schemes

(Continued)

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Current year: At 1 Incoming Resources At 30
December resources expended November
2022 2023
£ £ £ £
Edward Holt Trust 14,583 15,000 (20,000) 9,583
Forever Manchester 3,515 - - 3,515
National Lottery Community Fund 71,133 77,964 (94,291) 54,806
Salford CVS 8,880 130,000 (91,019) 47,861
Pret Foundation 15,202 - (8,000) 7,202
The Booths Charities 16,000 24,100 (30,100) 10,000
Zochonis Charitable Trust 5,000 25,000 (25,000) 5,000
Other 4,509 23,854 - 28,363
Salford MBC 15,753 55,817 (55,817) 15,753
Albert Gubay Charitable Foundation - 70,530 (70,530) -
154,575 422,265 (394,757) 182,083
Previous year: At 1 Incoming Resources At 30
December resources expended November
2021 2022
£ £ £ £
Edward Holt Trust 14,583 25,000 (25,000) 14,583
Forever Manchester 3,500 200 (185) 3,515
National Lottery Charitable Fund 24,554 98,520 (51,941) 71,133
Salford CVS 5,000 21,000 (17,120) 8,880
Pret Foundation 8,000 10,000 (2,798) 15,202
The Booths Charities 5,000 21,000 (10,000) 16,000
Salford Community Grant 5,000 - (5,000) -
Zochonis Charitable TRust - 15,000 (10,000) 5,000
Delamere Dairy 3,500 - (3,500) -
ESF - 13,160 (13,160) -
Other - 15,129 (10,620) 4,509
Salford MBC - 47,258 (31,505) 15,753
Albert Gubay Charitable Foundation - 69,358 (69,358) -
69,137 335,625 (250,187) 154,575

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

16 Restricted funds

(Continued)

Funds received from Edward Holt Trust, National Lottery Community Fund, The Booths Charities, Salford Community Grant, Zochonis Charitable Trust, The Albert Gubay Charitable Foundation and Salford MBC (Salford Council Housing Options) were all at least in part to finance various employment positions vital to our operations and activities.

Grant income from Salford CVS in 22/23 includes £100,000 in relation to Salford VCSE Learning, Skills and Work programme, being year 1 of a 3 year programme aimed at helping those most in need in Salford.

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Current year: At 1 Incoming Resources At 30
December resources expended November
2022 2023
£ £ £ £
General funds 156,499 79,805 (39,882) 196,422
Previous year: At 1 Incoming Resources At 30
December resources expended November
2021 2022
£ £ £ £
General funds 135,775 137,073 (116,349) 156,499

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2023

18 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
Current year
£
£
Fund balances at 30 November are represented by:
Tangible assets
20,799
-
Net current assets
175,623
182,083
196,422
182,083
Unrestricted
funds
Restricted
funds
2022
2022
Previous year
£
£
Fund balances at 30 November are represented by:
Tangible assets
8,905
-
Net current assets
147,594
154,575
156,499
154,575		 Total
2023
£
20,799
357,706
378,505
Total
2022
£
8,905
302,169
311,074

19 Related party transactions

During the year £250 (2022 - £250) has been charged to the charity for web hosting services. These fees were charged by a company of which one of its directors, Mr P C Ashton, is a trustee of the charity. There was no balance owing at year end.

20
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Cash generated from operations		 2023
£
67,431
(198)
4,993
47,078
12,115
131,419		 2022
£
106,162
(57)
3,385
(38,458)
(2,125)
68,907

21 Analysis of changes in net funds

The charitable company had no material debt during the year.