Charity Registration No. 1125905
Company Registration No. 06130395 {England and Wales)
COMMUNITY INMATIVES SOUTH WEsf LIMITED
TIA FARESHAR£ SOUTH WEsr
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 20Z5
BUSINESS
ADVISORS
&ACCOUNTANTS
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kin8dom
BS3 2BJ

COMMUNifi INtfiATIVES SOUTH WEST LIMtTED
TIA FARESHARE SOUTH WEsr
CONTENTS
Page
Company infomiation
Trustees, report
2-11
ststement of Trustees, responsibilities
12
Independent auditor's report
13-17
ststement of financial activities
18
Balance sheet
19
statement of cash flov•s
20
Notes to the financial 5tatementS
21-37

COMMUNITY INMATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J Ingleby
T Hogg
C Ackland
A Street (Chairl
C L Burden
B R Eaves
MrDKCox
(Appointed 7 July 20251
(Appointed 27 February
20251
Ms S Lawrence
Secretary
A John
Charity number
1125905
Company number
06130395
Registered office
Unit 4
Little Ann Street
St Judes
Bristol
BS2 9EB
Audltor
TC Group
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kingdom
8S3 2BJ
Bankers
Uoyds Bank PLC
98 Virtoria Street
London
SWIE 5JL
Solicitors
Osborne Clarke LLP
Halo
Counterslip
Bristol
BSI 6A1

COMMUNifi INITIATIVES SOUTH WEsf LIMrfED
TIA FARESHARE SOUTH WEST
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their report and financial statements for the year ended 31 March 2025 (referred to in
this report as °the year under review" or "this year").
These financial statements have been prepared in accordance with the accounting policies set out in the notes
to the financial statements and comply with the Charity's Memorandum and Articles of Association dated 30
June 2008, the Companies Act 2006 and "Accounting and Reporknng by Charitie5.' Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 1021" {as amended for accounting periods commencirg from
l January 20191.
Objectives and activities
The Charity's objects under its Memorandum are:
a. To promote the voluntary sector for the benefit of the public by..
i. the distribution of food to charities and voluntary organisations.
11. encouraging members of the public to undertake voluntary work: and
111. providing education and trainin8 to the voluntary sector.
b. To advance in life and help young people between the ages of 18 and 25 by the provision of work-
based training which develops their ability. capacities, and capabilities to enable them to partiCiFete in
society a5 mature and responsible individuals.
Our main activity, which is enabled by our volunteering and employability programme. is the redistribution of
surplus food arising from the food industry to its network of community food members across the South West
of England, who in turn use the food to deliver social impact. Members are either charities, not-for-profit
organisations, schools, community groups, or social enterprises who support people struggling with hunger in
the region.
The Trustees have paid due regard to guidance issued by the Charity Commission tn deciding what attivities the
Charity should undertake.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
Charity should undertake.
The maln actSvitles undertaken in relation to the objec
The Charity is the South West region's biggest food charity and a lifeline for frontline charities from
Gloucestershi￿ to Cornwall. It is an independent charity in the UK Fare5hare network that is cTrordinated by
Fareshare {Charity No. 11000511. By being part of the network, we can help rescue more food. By being
relatively small and independent, we can remain close to our local partners and people and continuoLsly adapt
to meet the needs of our local communities across the region.
We're part of the 501ution to our broken food system. We rescue quality surplus food that would otherwise go
to waste and share it with charities and other organisations to bring health, dignity, and joy to people from
Gloucestershire to Cornwall. Food for a colossal 10 billion meals is wasted by the UK ft)od industry every year,
with devastating climate impact. We work directly with farniers. manufartU￿rs. suppliers, and retai￿r5 across
the south west to rescue their surplus food and fight the injustice of who gets to afford a healthy diet: over 50%
of the food we rescue is fresh vegetables, fresh fruit, and dairy produce.

COMMUNITY INITIATIVES SOUTh WEST UMrrED
TIA FARESHARE SOUTH WE
TRUSTEES. REPORT {INCWDING DIREcfoRS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
We work in partnership to creote positive sociol change. The organisations we share food wth transform lives,
using food to connect people with other support and routes out of poverty, including children and families,
people on low incomes, homeless people, refugees, domestic abuse survivors. people in recovery, older people,
and many others. Our food is used to create food parcels, create pantry mode15, teach cooking skills, or prepare
and host nourishing meals that enables community. dignity, and routes out of poverty- Our member Scheme
ensures that surplus food is safe, compliant. and traceable.
We offer opportunitie5forpeople to thrive. Our diverse volunteers make up around 90% of our team, providing
support to sort and deliver food for over four million meals a year. In return, we provide them with a
meaningful and empowering experience that offers community. purpose, work experience and more. whatlver
their background or reason for volunteering. Our youth employability programme. Farechance. offers tsilored
personal development and on-the-job training to 18-25-year-olds who are out of work and education, li order
to grow confidence, give back to their communities and gain personal empowerment and skills for life.
The Charity also engages in a range of fundraising activities. including applying for grants. securing corporate
and individual donations, and organising community events.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the Charitys aims and objectives in planning future activities.
Achlevements and performance
This year the cost-of-living crisis has continued at pace, with 4.5 million children in the UK liiryng in poverty-
rise of 200.000 in the last year- and healthy food unafftjrdable for around a third of the population. In the
South West, there are pockets of growing disadvantage in both urban and rural areas, such as Barton Hill in
Bristol, where SS% of all children live in poverty, and in Plymouth Cent￿, where the child poverty rate is now
42%.
Despite the sustained pressure from rising demand and rising costs, we've increased our support for vulnerable
people and been able to push forward many of our plans for progress. In the year under review we..
Delivered ft)od for 4.36 million meals: a year-on-year increase since the pandemic.
Fed around 42,000 vulnerable people across the South West.
Supported 370 members, saving them £6.3 million in grocery bills." money they can use to survive and
invest in services that provide route5 Out of poverty.
Distributed 1830 tonnes of food across the South West, saving 3715 tonnes of food-waste-related
greenhouse gases.
Recruited and supported 336 regular volunteers who gave their time to make a real difference.
Supported 34 young people to thrive through our Farechance employability programme.

COMMUNrtY INITIATIVES SOUTH WEST UMITED
TIA FARESHARE SOUTH WEST
TRUSTEES. REPORT IINCLUDING DIREcfoRS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Food rescue and redistribution
Continued impacts from inflation and the cost-of-living crisis has seen sharp increases in operating and raw
material costs for food businesses, resulting in an increased spotlight on reducing their waste or surplus food.
Ambient i.e. store cupboard essentials and retail food stocks have been particularly affetted with major retail
brands changing their processes at the distribution ￿ntre level. Other suppliers are increasingly looking for
ways to recover some costs and sell surplus to discounters. Also, as companies see their employees &ruggling
financially, they have been diverting Surplus to highly discounted staff shops. These chan8e5 are to be
celebrated in our shared vision for tackling food waste and poverty- however. they do challenge our ability to
glean enough food to meet the rising demand across the wider community.
The types of food we are sourcing have followed the positive trend we saw in the last year, with far higher
volumes of high-value nutritious fresh fruit and vegetables and other chilled produce in comparison to ambient
food e.g. tins and packets. Whilst volume from some suppliets has decreased, "work in progress" stock- for
instance pie filling or curry sauce destined for a ready meal - has increased. This has allowed u5 to support
more members who cook on-site and provide wraparound support.
This year we rescued and shared 464 tonnes of food from over 70 local suppliers
maintaining a strong
tonnage from last year - on top of the 1366 tonnes of food from national retsilers and manufarturers. Food
included milk from Trewithen Dairy, eggs from St Ewe. turkey from Field & Flower. brassicas from Riverford
Organic, yoghurts from Yeo Valley, chilled soup from Greencore and bread from DHL {Nisal. We have worked
hard to access new and different surplus food. generated at various stages of the supply chain. Chadie Bigham
package up their produttion surplus and donate it weekly to both Fareshare South West and the wider
network.
Inspired by His Majesty the King, major supennarkets and food manufacturers have united to target food waste
and use resources more effectively. As a result, we've received food for 55.000 meals through this project this
year including ready meals. soup, and pizza- ideal for people with limited cooking facilities.
In addition to the food we shared for 4.4 million meals. we supported our food members by sharing
opportunities for funding where appropriate, in addition to nutritious. low-cost recipe cards that match their
deliveries and access to funded fridges and freezers in order to accept our increasingly chilled or frozen surplus
food. We also supported their network buildin& for example introducing the Bridgwater members to each
other so they could pool resources and provide a more joined-up response to people facing hunger.
In November 2024 we launched our winter crisis response. We delivered food for 1.2 million meals to people in
need, provided 2.5 tonnes of festive food for people experiencing homelessness in partnership with Caring in
Bristol and packed 1095 festive food and activity parcels for the most vulnerable children in Bristol.

COMMUNITY INITIATIVES SOUTH WEST UMITED
TIA FARESHARE SOUTH WEST
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORn (CONnNUED)
FOR THE YEAR ENDED 31 MARCH 2025
Volunteering and employability
Last year 336 regular volunteers supported the Charity by sorknnE and packing food orders in our warehouses
and delivering them by van to communities in need, in addition to 295 corporate volunteers from local
businesses. our volunteers are the lifeblood of our work, forming Th of our workforce, and their dedication is
inspiring-
This year we provided more user-led enrichment activities for volunteers to share their skills and interests. from
live music night to yoga sessions and a crafting workshop led by our creative volunteers, alongside our
volunteer awards celebration and seasonal events. As part of our diverse recruitment strategy, we formed new
pathways into volunteering, from SEND colleges to rehabilitation chartties. In early 2025 we ran numerous
consultation groups with the volunteers asking them to help shape our revised vision. mission, and ￿lUeS
which they highly valued.
The impact of volunteering at the Charity is evidenced in a January 2025 survey completed by our volunteers in
Bristol and Plymouth. It showed that 99% were S3tisfied/highly satish'ed with volunteering at the Ckority and
reported an increase in sense of accomplishment185%). life satisfaction {85%1, happiness166%1, Social network
(61%) and fitness151%}, with positive feedback on the training and skills gained.
We have been creating the scope for a PlymoutPtrbased Farechance with research into local need and gaps in
provision. along with piloting hosting work placements for unwaged indtviduals in partnership with Seetec and
Pluss ahead of launching our new larger Plymouth warehouse space in 2026.
Our Bristol-ba5ed employability programme, Farechance, has seen a sharp increase in diversity of participants.
especially in disability (85%). adverse childhood experiences188%1, and ethnicity126% global majority), with
young people feeding back that they feel Farechance provides a safe and welcominE space. Ctrdesign
opportunities have led to new initiatives such as creating peer-led interview practice, choosing away day
partners, and increasing our training offer to include workplace resilience and food allergen training.
Thi5 year, Bristol Farechance supported 34 young people. 48% moved on to paid work, education, or external
training. 50% gained stability and connections through regular volunteering and 88% improved their confidence
and work readiness.
The Charity's civic network has grown thanks to proactive outreach to key stakeholders and decisi¢￿-MakerS.
We welcomed Minister for Food Security and Rural Affairs Daniel Zeichner to see our work in Bristol in per50n.
in support of the proposed Defra Tackling Surplus at the Farm Gate scheme. We a150 hosted tours for our local
MPS.. Luke Pollard and Fred Thomas in Plymouth, Carla Denyer in Bristol.
Vale Lane, our second Bristol warehouse, was officially launched with an event to celebrate the success of
employability programme Farech3n￿, and the completion of Phase 2 of the building including kitchen. office,
and meeting spaces.
We supported three young people into fundraising and communications internships to gain work expeiience.
alongside supporting four students to produce a short film about a work as part of their BA in Creative
Filmmaking.
People and culture are integral to our work. With a pro bono consultant. we created a new vision, mission and
values this year via extensive consultation with staff. volunteers. and other stakeholders to better reflett our
core purpose, alongside rolling out an internal cornmunications and engagement strategy to unite us ￿rosS
locations as 'one Fareshare South West..

COMMUNITY INITIATIVES SOUTH WEsf LIMITED
TIA FARESHARE SOUTH WEST
TRUSTEES. REPORT (INCWDING DIREcfoRS' REpoKfJ (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2024-25 Fundraislng in figures:
Total furbdraised income in the year was £893.287 {as gNen in Note 3 to the Financial Statements). It was split
into the following categories:
Trusts & Grants 56%
Individual donors 22%
Corporates 17%
Community and events 2%
Gift Aid 3%
The Charity 15 registered with the Fundraising Regulator and paid the associated voluntary levy. Djring the year,
we did not receive any complaints about our fundraising athvity.
Flnancial review
For the year to 31" March 2025, the Charity made a deficit of £502,982 (2024, surplus of£126.652). Net 05setS
at 31" March 2025 were £541,506 (2024, £1,044,488).
Trustees implemented a planned deficit budget of £195.000 in 2024/25 to invest in long-term sustainability.
including major developments like expanding our Plymouth warehouse. purchasing an HGV, and launching a
Cornwall satellite 51te. However, we We￿ hit with significant and unexpected additional operational challenges
including the end of our business rate exemptions, non-budgeted vehicle expenses, and a major water leak at
our Vale Lane warehouse. The Charity closely monitors financial perf0rrnan￿ within the leadership team and
Finance Committee ensuring performance is in line with expectations and taking mitigating actions when
necessary. The Charity's 5-year budget will build on operations efficiencies and expand income opportunities in
line with increased capacity.
Reserves at 31" March 2025 were split between restricted reserves at £191.830 12024. £171,115) and
unrestricted reserves at £349,67612024, £873,373).
The CharitWs income in the year to 31" March 2025 was £1,744,687 {2024. £2.IX17.115). Income received from
trusts, foundations, corporate individual supporters and restricted grants from our national partner, Fareshare
Icharity No. 11000511. ('fundraised income,) totslled £893.287 (2024, £1,213,430) in the year under review.
whilst income from membership fees I'charitable Activities,) accounted for £681.61712024, £656,470).
The Charity continued to receive some restricted funding from Fareshare, although at a lower level than the
previous year, to support with some infrastructure costs. our food sourcing officer, and some vehicle costs,
including support to manage rising fuel costs. We also continued to work in the year with Bristol Cty Council
and Feeding Bristol on the HAF Programme and Household Support Fund. The Household Support Fund
maintained the previous year's activity. and we were able to expand the HAF programme offering an additional
275 parcels across B&NES.
Restritted funds are spent as soon as possible in line with the donor's wishes. should this not prove practical,
we seek the donor'5 preference regarding any alternative use of funds, retention for future projects or the
return of such funds.

COMMUNITY INITIATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEST
TRV5TEES' REPORT {INCWDING DIREcfoiis' REPORTI (CONTINUEDI
FOR THE YEAR ENDED31 MARCH 2025
Reseryes Policy
The Charity has a risk-based Reserves Policy to help protect its operations from any short- or medium-term
disruption which could cause significant issues with the storage and delivery of food to the most vulnerable
groups in the South West.
The Reserve5 Policy seeks to mitigate both specifically identified risks and the associated quantified financial
exposure from those risks crystalli5ing. The primary specific risks that the Charity has quantified its exposure
against are a significant shortfall in its fundraising compared to expettations; the extended temporary closure
of one or more warehouses: outbreaks of significant illness amongst a large number of operational stsff; and
the loss of food deliveries from key national food partners for an extended duration. Any combination of these
specific events would cause a signifFcant increase in average costs where the Charity had to purcha
alternative resources to permit its key activities to continue.
The unrestricted reserves set aside to prcwide security against a combination of the most extreme adverse risk
scenarios continues to be calculated as between three and six months of totsl expenditure. The Trustees have
updated the reserves policy in 2024/25 to include totsl unrestricted reserves, instead of 'free
reserves, (unrestricted reserves less tangible fixed assets). All fixed assets for the Charity are tunctional and
therefore essential to delivering the Charivs aims. so it was deemed appropriate to include these in the
unrestricted reserves figure to ensure it gives a realistic view of the Charity's current and ongoing financial
Position.
This reflects what the Trustees consider is a prudent assessment of the Charivs exposure to risks, Including
those specific to the cost-of-livin8 crisis. At three months of total expenditure, it equates to £561,91712024.
comparative £470.1161. At this monetary level and over the three to six-month duration. the Trustees feel that
they would be able to continue the current activities of the Charity whilst also puttin8 in place mitigation
against a simultsneous drop in funding.
At the year end, the Charlty had unrestrirted reserves of £349,676 {2024 comparative figure of £873.3731. The
Charity's reserves position at the year-end is as follows=
Unrestricted fund5 total
349.676
Less 3 months, expenditure set aside
561917
Current Funds relative to reserves policy
(212,241)

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEsr
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees have actively overseen the reserves position during the year under review and have felt it prudent
to continue to operate a pragmatic policy of ensuring that the Charity has over three months of free reserves
but with a desire to achieve six months. At year end, this dipped to two months free reserwes, but Wbth
significant funds held in fixed assets,
At the time of approving thefinancial stotement5 the Trustee5 have o reasonable expectation that the Charity
ha5 odequate resources to continue in operational existence fvr the fvreseeable future. Thu5, the Trustees
continue to adopt the going concern basis of occounting in preparing thefinanciol statements.
In the year ahead. the Charity will continue to review operational expenditure to identify effi'ciencies. prioritise
essential activities, and renegotiate key contracts to achieve better value, particularly around vehicle costs. By
reducing expenditure and building on income diversification the Charity will look to replenish reserves to a level
consistent with the reserves policv.
The Trustees continue to be immensely grateful for the capital grant and food supply support from Fareshare
(Charity No. 1100051) and for the ever-more generous donations and support from a range of organisations.
trusts, and individuals in another very pressing year.
Invertment Pollcv
Owing to the Charity's historical size and smaller reserrfes. it does not currently have an Investment Committee
with a full Investment Policy. All decisions on investments are instead approved at full Trustee board meetings.
The Charity's aim is always to invest prudently with low-risk financial institutions that accord with the Charity's
mission and objectives.
The Charity currently invest5 all it5 cash reserves in short-notice savings or business current accounts at its
bankin8 partners. These partners are chosen based on their financial resilience as well as their ethical corporate
values and investment strategies being compatible with those of the Charity. Due diligence on the Charity's
banking partners is ongoing.
At the current time Trustees do not intend to invest in asset classes such as investment property, equities. or
equity-backed funds. The Charity also currently does not make grant, or funding offers to support other
charitable organisations. This will be kept under review.
The Trustees are cognisant that the level of cash reserve5 in the Charity has continued to fall for a second year.
They are also aware interest rates remain high so a decision will be kept under review to potentially move fund5
to higher interest rate alternatives. One of our banking partners has now started paying interest on deposited
fund5 which we welcome. As per prewous years. if Trustees with appropriate investment expertise are
appointed, the Charity may seek to expand the range of Iow-risk investments in which the free reserves are
invested. However, any such investment policy change will always accord with the Charity's mission and
objectives.

COMMUNITY INITIATIVES soufH WEsf UMfTED
TIA FARESHARE SOUTH WEST
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Rlsks and Uncertaintles facing the Charlty
Our Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in
place to mitigate exposu￿ to these major risks. We update a detailed risks register every six months and
highlight the potential risks to the organisation and the mitigating actions. The key areas of potential risk
include:
Business Continuity Plan - to be developed
Food suppFy levels at national level and dian8es in surplus types
Financial- low cash levels and pressures on reserves
Operational capacity and infrastructure- limited warehouses and fleet
Competitive recruitment market
Fundraising environment
Future plans
In 2025/26 we will be working towards..
Running a 10-month pilot projert to rescue more fresh produce from local farniers, thanks to fundirE from
Defra's Tackling Food surplus at the Farm Gate fund. This will fund temporary additional staff and new
equipment including a food collection truck, freezer. and larger chiller.
Launching a larger, better equipped hub in Plymouth. This will enable us to best respond to the changing food
landscape, run an employability programme complete with caterin8 kitchen and training rooms and sharE food
for over half a million additional meals over the next three years. It will also better supply our new Cornish local
collection hub in St Columb, providing food for more remote communities affected by the rural poverty trap.
Securing premises and funding for a large-scale. multi-use community food and skills hub in Bristol in
partnership with like-minded organisations. complete with the Infrastructu￿ needed to radically in(Tease our
food redistribution, supported volunteering and employability impact.
Structurep governance and mana8ement
Governlng Document
The Charity's governing document is its Memorandum and Articles of Association. The Charity was originally
incorporated as a company limited by guarantee on 27 February 2CQ7 under the name Community InitiatTries
South West Community Interest Company. It subsequently changed its name to Community Initiatives South
West Limited on 29 August 2008 and became registered as a charity with the Charity Commission on 16
September 2008.

COMMUNITY INITIATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEST
TRUSTEES, REPORT IINCWDING DIREcfoRS' REPORT) ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees, who are also the directors for the purpose of company law, and who serrfed during the year and
up to the date of signature of the financial statements were:
J Ingleby
T Hogg
C Ackland
A Street (Chairl
C L Burden
B R Eaves
MrDKCox
Ms S Lawrence
(Appointed 7 July 2025}
(Appointed 27 February 2025)
Appointment of Trustees
As set out in the Artscles of Association the Trustees may appoint a person who is willing to act as a Trustee.
Any Trustee appointed by a resolution of the other Trustees must retire at the next annual general meetin8.
Under charity law. each Trustee of the Charity is also a Director of the charitsble company. The TrLStees
constantly seek to recruit new Trustees to join the Board of the Ch3rity who have a diversity of experience.
expertise and backgrounds to support the senior management team and help the Charity thrive and who
share a passion to achieve the Charity's objectives. The Trustees were delighted to be joined by two new
Trustees during the year and are very grateful to those who have served on the Board during theyear and in
particular to the two Trustees who retired from the Board after many years of service.
Trustee Induction and Training
On appointment new Trustees are made aware of their legal obligations under charity and company law, the
content of the Memorandum and Articles of Association, the committee and decision-making processes and
the most recent business plan and recent financial performance of the Charity. The Board of Trustees holds
regular Board meetings at which Trustees are updated on the range of compliance issues relevant to the
Charity's operation5 (including health and safety) and holds annual strategy review meetings which are often
attended by external speakers and facilitators.
senior Management Team:
L Bearn. Chief Executive Officer
J Forsyth, Deputy Chief Executive Officer
S Wright. Director of Partnership and Business Development
10-

COMMUNITY INtriATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEST
TRUSTEES, REPORT {INCLUDING OIRECfORS' REPORn (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Organlk2tion
The Articles of Association allow for a minimum of 3 Trustees, and there is no maximum unless determined
by ordinary resolution. The Trustees administer the Charity. and normally meet around eight times a year. All
strategic and key financial decisions (including the setting and review of staff remuneration) are reserved to
and taken by the Board of Trustees. The Board of Trustees works in close cooperation with the Chief
Executive Officer (who leads the senior management team and who attends and reports to each Board
meetin8) and with the other members of the senior management team who regularly present reports to the
Board. The Trustee5 are supported by a finance sulFcommittee which meets at least ten times a year and
currently includes 2 of the Trustees and the Chief Executive Officer.
Any benefit received by Trustees is purely incidentsl to the objects of the Charity's work and disclosed within
the financial statements.
The Charity is party to a collaboration agreement with Fareshare (Charity No. IIOC(151) which sets out,
amongst other things. the principles which underpin the working relationship between the parties, the
responsibilities of the parties and the terms upon which the Charity is permitted to use the Fareshare name
and brand.
Audltor
In accordance with the company's arhcles. a resolution proposing that TC Group be reappointed as auditor of
the company will be put at a General Meeting.
Dlsclosure of informatlon to auditor
Each of the Trustees has confirmed that there is no information of which they are avrdre which is relevant to
the audit, but of which the auditor is unaware. They have further confirmed that they have taken apFropriate
steps to identify such relevant information and to establish that the auditor is aware of such infomation.
The Trustees, report was approved by the Board of Trustees.
A Street (Chalrl
Trustee
Dated: 2.7.l.:.l.i%. .
11

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEsr
STATEMENT OF TRU5fEES' RESPONSIBILMES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees, who are also the directors of Community Initiatives South West Limited for the purpose of company
law, are responsible for preparing the Trustees. Report and the financial statements in accordance wth 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 gve 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 charitsble companyfor that year.
In preparing these financial statements, the Trustees are required to:
select Suitable accountfng policies and then apply them consistently;
observe the methods and principles in the Charities SORP.
- make Jud8ements and estimates that are reasonable and prudent: and
prepare the financial ststements on the goin8 concern basis unless it is inappropriate to presume that the
Charity will continue in operation.
The Trustees are responsible for keeping adequate 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 Charity and he￿e for taking
reasonable steps for the prevention and detection of fraud and other irre8ularities.
12-

COMMUNITY INITIATIVES SOUTH WES[ LIMttED
TIA FARESHARE SOUTH WEsr
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COMMUNITY INMATIVES SOUTh WEST LIMITED
Oplnlon
We have audited the financial statements of Community Initiatives South West Limited {the 'Charity'l for the year
ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the staement of
cash tlows and notes to the financial statements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards. including Financial Reporting Standard 102 The Financial Reportlng Stondord applicable in the UK and
Republlc of Ireland Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial ststements".
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its
incoming ￿sOurceS and application of resources, including its income and expenditure, for the year then
ended:
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prattl￿.
and
have been prepared in accordance with the requirements of the Companies Act 2¢X)6.
Basis for opinion
We condurted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKI} and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilitiesfor the oudit
of the finoncial statements section of our report. We are independent of the Charity in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Concluslon5 relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS IUKI r4uire us to
report to you where..
the Trustees, use of the going concern basis of accounting in the prepardtion of the revised finarcial
statements is not 3ppropriate: or
the Trustee5 have not disclosed in the revised financial ststement5 any identified material uncertainties that
may cast significant doubt about the Charitys ability to continue to adopt the going concern basis of
accounting for a period of at least twelve months from the date when the original financial statements are
authorised for issue.
13-

COMMUNITY INITIATIVES SOLItH WEsf UMITED
T/A FARESHARE SOUTH WESr
INDEPENDENT AUDITOR'S REpoKf {CONTINUED)
TO THE MEMBERS OF COMMUNITY INITIATIVES SOUTH WEsf UMITED
Other Information
The other information comprises the information included in the annual report other than the financial
statements and our auditor's report thereon. The Trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other informati)n and.
except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so. consider whether the other
information is materially inconslstent with the financial statements or our knowledge obtained in the course of
the audit, or otherwise appears to be materially misststed. If we identify such material inconsisterKie5 or
apparent material misstatements. we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that
there is a material misstatement of this other information. we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the Trustees, report for the financial year for which the financral statements are
prepared, which includes the directors, report prepared for the purposes of company law. is consistent with
the financial statements; and
the directors, report included within the Trustees, report has been prepared in accordance with applicable
legal requirements.
Matters on whlch we are required to report by exceptlon
In the light of the knowledge and understanding of the Charity and its environment obtained in thecourse of the
audit. we have not identified material misstatements in the direttors, report included within the Trustees, report.
We have nothing to report in respert of the following matters in relation to which the Companies kn 2006
requires us to report to you if, in our opinion=
adequate accounting records have not been kept. or returns adequate for our audit have not been received
from branches not visited by us- or
the financial statements are not in agreementwith the accounting records and returns; or
certain disclosures of trustees. remuneration specified by law are not made: or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to prepare the revised financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report
and from the requirement to prepare a strategic report.
14-

COMMUNITY INITIATIVES SOUTH WEST UMITED
TIA FARESHARE SOUTH WEST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COMMUNITY INITIATIVES SOUtH WEST UMITED
Responsibilities of Trustees
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of
the Charity for the purpose of company law, are responsible for the preparation of the financial statements and
for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine 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
Charity's ability to continue as a going concern, disclosin& as applicable, matters related to goirg concern and
using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
Auditor's responslbilities for the audit of the financial statements
We have been appointed auditor under the Companies Art 2006 and report in accordance with this ACL
Our objertives a￿ 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 includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detett a material misstatement when it exists. Misstatements can arise
from fraud or erTor and are considered material if. individually or in the aggregate. they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial Statements is located on the Financial
Reporting Council's webstte at: http'.//www.frc.org.uk/auditors responsibilities. This description forms part of our
auditor's report.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which
our procedures are capable of detecting irregularities, including fraud. is detailed below.
15-

COMMUNITY INITIATIVES soufH WEsf LIMITED
TIA FARESHARE SOUTH WEST
INDEPENDENT AUDITOR'S REPORT (CONllNUEDI
TO THE MEMBERS OF COMMUNITY INITIATIVES SOUTH WEsf UMITED
Extent to which the audlt was considered capable of detecting irregularities. including fraud
rhe objectives of our audit. in respect to fraud, are- to identify and assess the risks of material misststement of
the financial staternent5 due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud. through designing and implementing appropriate responses,. and to
respond appropriately to fraud or suspected fraud identified during the audit. However, the primary
responsibility for the prevention and detection of fraud rests with both those charged with governance of the
entity and its management.
Our approach was as follows..
We identified areas of laws and regulations that could reasonably be expected to have a material afect
on the financial ststements from our general sector experience, and through discussion with the
trustees and other management las required by auditing standards). and discussed with the trustees and
other management the policies and procedures regarding compliance with laws and regulationslsee
below):
We identified the following areas as those most likely to have such an effect: health and safety; General
Data Protection Regulation (GDPR): fraud; bribery and corruption. and employment law. Auditin8
standards limit the required audit procedures to identify non-compliance with these laws and
regulations to enquiry of the trustees and other management and inspection of re8u5atory and legal
correspondence, if any. The identified actual or suspected non-compliance was not sufficiently
significant to our audit to result in our response being identified as a key audit matter.
We considered the legal and regulatory frameworks directly applicable to the financial statements
reporting framework {FR5 102. the Companies Att 2006 and the Charities Act 20111 and the relevant tax
compliance regulations in the UK;
We considered the nature of the operations, the control environment and financial performance.
We communicated identified law5 and regulations throughout our team and remained alert to any
indication5 of non-complian￿ throughout the audit..
We considered the procedures and controls that the charity has established to address risks identified,
or that otherwise prevent, deter and detect fraud; and how senior management monitors those
programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such13ws and
regulations. Where the risk wa5 considered to be higher. we performed audit procedures to address each
identified fraud risk. These procedures included testing manual journals. reviewing the financial ststement
disclosures and testing to supporting documentation,. performing analytical procedures- and enquiring of
management, and We￿ designed to provide reasonable assurance that the financial statements were fr￿ from
fraud or error.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing stsndards. For example, the further removed noTrcompliance with laws and
regulations (irregularities) is from the events and transactions refletted in the financial ststements, the less likely
the inherently limited procedures required by auditing standards would identify it. The risk is also greater
regarding irregularities occurring due to fraud rather than error. as fraud involves intentional c0￿ealMent,
forgery. collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detect non-compliance with all laws and regulations.
16-

COMMUNITY INITIATIVES SOUTH WEsf LIMITED
TIA FARESHARE SOUTH WEsr
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE MEMBERS OF COMMUNITY INITIATIVES soufH WEsf LIMITED
Use of our report
This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part
16 of the Companie5 Act 21J)6. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than
the charitable company and the charitsble company's members as a body, for our audit work, for this report, or
for the opinions we have formed.
TC Gtoy
Amanda Kruger FCCA {Senior Statutory Audltor)
for and on behalf of TC Group
ststutory Audltor
Office: Ashton Gate
Date:..27..Noyember 2025
17-

COMMUNttY INITIATIVES SOUTH WEST LIM￿ED
TIA FARESHARE SOUTH WEST
STATEMENT OF FINANCIAL AcfiviTIES
INCLUDING INCOME AND EXPENDETURE AccouNr
FOR THE YEAR ENDED 31 MARCH 2025
Unrestrirted Restricted
fvnds
funds
2025
2025
Total Unrestricted
funds
2024
Restricted
funds
2024
Total
2025
2024
Inco
Donations and legacies
Charitable acttvities
Other trading attivities
785.603
580,361
6,326
271,141 1.056.744
101,256
681,617
6.326
844.663
551,830
6,049
499,933 1,344,596
104,640
656,470
6,049
Total income
1,372,290
372.397
1.744,687
1,402.542
604.573
2,007,115
enditure
Raising funds
Charitable activities
Other
118,181
1.795.717
11.431
118,181
2.118.057
11,431
104,578
1,473,048
8.057
104,578
1.767.828
8,057
322,340
294,780
13
Total resources
expended
1.925.329
322,340 2,247,669
1.585,683
294,780 1,880,463
Net loutgoing)I
incomlng resources
before transfers
(553.039)
50,057
{502,982) 1183.1411
309,793
126,652
Gross transfers between
funds
29.342
129,342)
163.128
1163,1281
Net {expenditure)fincome for
the year/
Net movement in funds
1523,6971
20.715
{502,982)
(20,0131
146.665
126.652
Fund balances at l April
2024
873,373
171,115
1.044,488
893,386
24,450
917,836
Fund balances at 31
March 2025
349,676
191,830
541,506
873,373
171,115 1,044,488
The statement of financial activities includes all gains and losse5 recognised in the year.
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 financi313ctivities also complies with the requirements for an income and expendtture account
under the Companies Act 2006.
18-

COMMUNITY INITIATIVES SOUTH WEsf LIMITED
TIA FARESHARE soLrrH WEsr
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
15
434.534
483,352
16
360,253
192,998
485,680
490.CM)6
553,251
975,686
Creditors: amounts falling due withln
one year
17
(446,2791
1414,550)
Net current asset5
106.972
561,136
Total assets less current liabilities
541,506
1.044,488
Income funds
Restricted fund5- general
Unrestricted funds
191.830
349,676
171,115
873,373
541,506
1,044,488
These financial statements have been p￿pared in accordance with the provisions applicable to companies subject to
the small companies regime.
The financial statements were approved by the Trustees on . 2?
A Street Ichairl
Trustee
Company Registratlon No. 06130395
19-

COMMUNITY INITIATIVES SOUTH WEST LIMftED
TIA FARESHARE SOUTH WEST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operatin8 activitles
Cash (absorbed byllgenerated from
operations
23
1237,5511
153,953
Investing actlvttles
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
(59.4571
{151,035}
3.224
Net cash used in investing activities
(59,457)
1147,8111
Net cash used in financlng actiVFtle5
Net (decrease)Ilncrease in cash and cash
equivalents
{297,008)
6,142
Cash and cash equivalents at beginning of year
490,006
483,864
Cash and cash equivalents at end of year
192,998
490.006
-20-

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOLrfH WEST
NOTE5 TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
Charlty information
Community Initiatives South West Limited is a charitable company limited by guarantee incorporated in
England and Wales. The registered office is Unit 4, Little Ann Street, st Judes, Bristol, BS2 9EB.
1.1 Accountlng convention
The financial statements have been prepared in accordance wtth the Charlvs Memorandum and Articles of
Association dated 30 June 2008, the Companies Att 21)06 and "Accounting and Reporknng by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the
Financial Reportin8 Standard applicable in the UK and Republic of Ireland {FRS 1021" las amended for
accounting periods commencing from l January 2019). The Charity is a Public Benefit Entity as definej bv
FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary
amounts in these financial statements are rounded tothe nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
Since the pandemic and through the cost-of-living crisis, the charity sector has been hit by increased costs
whilst fundraising has become an increased challenge. At Fareshare South West. we have exciting major
development plans coming to fruition throughout 2026 and 2027, which will enable us to consolidate our
operations and reduce our expenditure, whilst increasing our earned and fundraised income. We have
strengLhened partnership funrtion which will bolster fundraising activity, as well as supporknng major
development plans over the next few years. We will continue to seek opportunities to reduce spend where
possible, and the cash and budget forecast over the next 12 months is based on reasonable assumptions
agreed by the Trustees. We have had 2nd expect to have continued support from Fareshare {Charity No.
1100051}.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the
Trustees continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherante of their charitable
objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific
purposes. The purposes and uses of the designated funds are set out in the note5 to the financial
statements.
21

COMMUNITY INITIATIVES SOUTH WEST UMITED
TIA FARESHARE SOUTH WEST
NOTES TO TH£ FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2025
Accountin8 pollcles
(Contlnued)
Restricted funds are subject to specific conditions by donors as to how they may be used. The purrx)ses and
uses of the Restricted fund5 are set out in the notes to the financial statements.
For each Restricted fund where assets have been purchased the Trustees review the terms of the gift and
ascertain whether the purchase asset has to be retained in Restricted funds until the end of its U5dul
economic life or whetherthe gift allows for the assets to be transferred to Unrestricted funds.
1.4 Incoming resources
Income is recognised when the Charity 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 Charity 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 recogni5ed at the time
of the donation.
Legacies are recognised on re￿Ipt or otherwise rf the Charity has been notified of an impending
distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy ￿ treated
as a contingent asset.
Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant.
Grdnts receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are
treated as Restricted funds. The Restricted fund is then reduced by amounts equivalent to the depreaation
charges on the assets concerned and will continue to do so over the expected useful lives of the assets
concerned.
Grants receivable for specific purposes are also treated as Restrirted funds so that any unused fLnds can be
separately identified.
Grants receivable to facilitste the general running of the charity for example where the Trustees can choose
how the funds are expended. are treated as Unrestricted funds.
Membership income 15 recognised in the period to which it relate&
Gifts in kind includes donated assets, services and facilities which are recognised at a reasonab￿ estimate of
their gross value to the Charity- An equivalent amount has been included as expenditure under the
appropriate heading in the Statement of Financial Activities
The value of donated and surplus food is excluded from the financial statements, as the costs of establishing
the fairvalue of these would be excessive in comparison to the benefit to the users of the account&

COMMUNITY INITIATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEsr
NOTES TO THE FINANCIAL sfATEMEMfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
(Continued)
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, 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 accounted for on an accruas
basis and has been classified under headings that aggregate all cost related to the category. Where costs
cannot be directly attributed to particular headings they have been allocated to activities on a bass
consistent with the use of resources.
Charitable expenditure comprises those costs inCUr￿d by the charity in the delivery of its activ*ies and
services for its beneficiaries. It includes both costs that can be allocated directly to such activties and those
costs of an indirert nature necessary to support thenL
Governance costs include those costs associated with meetin8 the constitutional and statutory
requirements of the Charity and include the audit fees and costs linked to the strategic management of the
Charity. These are included within Charitable Activities.
Support costs are those costs that. whilst necessary to deliver an activty. do not themselves pr(xluce or
constitute the output of the charitable activity. This includes governance costs which are those costs
associated with meeting the constitutional and statutory requirements of the charity and include the
accountancy fees and costs linked to the stT3tegic management of the charity as well as a proportion of
salarie5 based on an approximation of time spent in this area.
Raising funds are those costs within Charitable Actbvities expenditure which can be Idenifjfied as unlquely
attributable to the attivities of raising funds from potential supporters of the Charity. Such costs include the
full employment cost of those employees whose role is fundraisin& and the licencing fees of subscriptions
to online fundraising plarforms.
1.6 Tanglble fixed assets
Tan8ible fixed assets are initially measured at cost and subsequentty measured at cost or Val￿tion, net of
depreciation and any impairment10sses.
Depreciation is reco8nised so as to write off the cost or valuation of assets less their residual values over
their useful live5 on the following bases-
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
10 years straight line
5 -10 years straight line
3 years straight line
5 years strdight line
The gain or 1055 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 ststement of financial activities.
-23-

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2025
Accountin8 policles
(Contlnued)
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible 355ets 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 imtmirment
loss lif any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks. other shorbterm liquid
investments with original maturities of three month5 or less, and bank overdrafts. Bank overdraft5 are
shown within borrowings in current liabilities.
1.9 Financial instruments
The Charity has elected to apply the provisions of Sertion 11 'Basic Financial Instrument5, and Settion 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilitie5 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 tosettle on a
net basis or to realise the asset and settle the liability simultsneously.
Baslcfinancial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured
transaction price including transactFon costs and are Subsequently carried at amortised cost Using the
effertive 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. FirBncial
a55et5 classified as receivable within one year are not amortised.
Baslcfinancial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price
unless the arrangement constitutes a fir)ancing 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade credltors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amount5 payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition offinonclul Ilabllfties
Financial liabilities are derecognised when the Chartys contrattual obligations expire or are discharged or
cancelled.
-24-

COMMUNITY INITIATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL sfATEMEKrs (coKnNUED)
FOR ThIE YEAR ENDED 31 MARCH 2025
Accounting policies
Icontlnued)
1.10 Employee benefits
The cost of any unused holiday entitlement 15 recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably
committed to terminate the employment of an employee orto provide termination benefits.
1.11 Leases
Rentsls payable under operating leases, including any lease incentives received. are charged as an expense
on a straight line basis over the temi of the relevant lease.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense a5 they fall due.
Crltical attountin8 estimates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilitres 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 cnly that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Donations and legacies
Unrestricted Restrirted
funds
funds
general
2025
Total Unrestricted
funds
Restricted
fund5
general
2024
Totsl
2025
2025
2024
2024
Donations and grants
Donated goods and
service5
622.146
271.141
893,287
713,497
499,933 1,213,430
163,457
163,457
131,166
131,166
785,603
271.141
1,056,744
844,663
499,933
1,344.596
-25-

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL 5TATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 202S
Donatlons and legacies
(Continued)
Donations and grants
Corporate or8anisations
Charities and trusts
Individuals
Fareshare UK
151,367
93,725
241.847
135,207
1,500
231,308
152,867
325.033
241,847
173,540
151,125
263.888
265,053
33,431
151.125
505,571
265,053
291,681
241,683
38.333
258,250
622.146
271.141
893.287
713,497
499,933
1,213,430
Gifts in Kind- donated
assets.servi¢es and
faciltties
Professional services
Warehouse rental and
rates
Other goods and
equipment
45.460
45.460
26,180
26,180
116.200
116.200
101.200
101,200
1,797
1,797
3,786
3,786
163.457
163.457
131,166
131,166
Income from Gifts in Kind in the prior year was Unrestricted.
Charitsble artivltles
2025
2024
Membership
681,617
656.470
Analysis by fund
Unrestricted funds
Restricted funds - general
580,361
101,256
551,830
104.640
681,617
656,470
Restricted funds of £101,256 12024: £104,640) include Household support Winter grants and
Feeding Bristol- Household Support Fund. The details of which can be found in the note 18.
-26-

COMMUNITY INITIATIVES SOUTH WEST UMrrED
TIA FARESHARE SOUTH WEsr
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from other tradlng activities
Unrestrlcted Unrestricted
funds
funds
2025
2024
Other income
6,326
6,049
Expendlture on rdlsins funds
Unrestrlcted Unrestricted
funds
funds
2025
Z024
Fundraising and publicity
Other fundraising costs
Staff costs
10.667
107,514
11,667
92,911
118.181
104,578

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
7. Charitsble acthittles
Main
charitable
artivity
2025
Main
charitable
artlvlty
2024
Depreciation and impairment
Staff costs
Premises expenses
Office costs
Communications
96,845
888,748
251,179
11,067
33,818
97,758
761,620
207,965
15,151
38,599
K 11
Motor expenses
Legal & professional fees
Other charitable expenditure
Marketing
Food purchases and supplies
274,411
48,683
158,957
11,261
67.745
125,342
32,392
133,777
4,146
90,728
1,842,714 1,507,478
Support costs
Share of governance costs {see note 8}
260,393
14,950
245,150
15.200
2,118.057
1.767,828
Analysls by fund
Unrestrirted funds
Restricted funds - general
1,795,717 1,473,048
322,340
294,780
2,118,057 1,767,828
-28-

COMMUNITY INITIATIVES soiJfH WEST LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL sfATEMENTS IcoKllNUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs
Support Governance
costs
2025
Support Governance
2024
Bank charges
Staff costs
Computer expenses
Communications
Legal & professional
Accountancy costs
662
662
210.594
946
228,413
14
946
228,413
14
5,183
943
9.651
210,594
5.183
943
9,651
3,563
45.575
3.563
45,575
Auditors remuneration
14.950
14.950
15,200
15,200
260,394
14,950
275.344
245.150
15,200
260,350
Analysed between
Charitable activities
260.393
14,950
275.343
245.150
15.200
260,350
Governance costs includes payments to the auditors of £14,950 {2024- £15.2QK)I for audit fees.
Net movement In funds
2025
2024
The net movement in funds is stated after charging/{creditingl:
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
for other financial services
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets
13,165
1,785
96,845
11,431
13.500
1,700
97,758
8,057
10 Auditor'5 remuneration
The analysis of auditor's remuneration is as follows:
2025
2024
Audit of the annual accounts
13,165
13,500
Non-audit servi￿$
All other non-3udit service5
1,785
1,700

COMMUNITY INITIATIVES SOUTH WEsf LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2025
11 Trustees
None of the Trustees lor any persons connected with them) received any remuneration or benefits from the
Charity during the year.
12 Employees
Number of employees
The average monthly number of employees during the year was:
2025
Number
2024
Number
39
Total benefits received by key management personnel during the year were £159,66212024: £188.598)
including employer's NIC and employer's pension costs.
The number of employees whose annual remunerdtion was £60,000 or more
were:
2025
Number
2024
Number
£60,000- £69,999

COMMUNITY INITIATIVES SOUTH WEST UMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL sfATEMEKrs {coKnNUED)
FOR THE YEAR ENDED 31 MARCH 202S
13 Other
Unrestrlcted Unrestricted
funds
funds
2025
2024
Net loss on disposal of tan8iblefixed assets
11,431
8.057
11,431
8.057
14 Ta￿tIon
The charity 15 exempt from taxation on its artivities because all its income is applied for charitable purposes.
15 Tangible fixed assets
Plart and
equlprnent
Cost
At l April 2024
Additions
Disposals
256,662
40.250
159,837
13.907
(18,1311
55,011
5,300
307,160
778.670
59,457
{18,1311
At 31 March 2025
296,912
155,613
60,311
307,160
819,996
Depredatlon and Impalrnient
At l April 2024
Depreciation charged in the year
Eliminated in respect of disposals
39.086
25,444
57,665
15.933
{6,700}
49,401
4.583
149,165
50.885
295,317
96,845
16,7001
At 31 March 2025
64.530
66.898
53.984
200,050
385,462
Carryin8 amount
At 31 March 2025
232,382
88,715
6.327
107,110
434,534
At 31 March 2024
217,576
102.172
5.610
157.994
483.352
31

COMMUNITY INITIATIVES SOUTH WEST IIMfTED
TIA FARESHARE SOUTH WEsr
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 MARCH2025
16 Debtors
2025
2024
Amounts falllng due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
289,650
25,776
44,827
427,339
23,126
35,215
360.253
485,680
17 Creditors: amounts falllng due wlthln one year
2025
2024
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
20,470
82.044
22,940
87,292
5,852
298,466
343,765
446,279
414,550
18 Restricted funds
The restrirted 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.
Movement in fund5
8alance at
Inroming
Translws
Balaft¢e al
31 Mirth 2025
IW1kn24
Stjohn's Foundation
Household Support Fund Winter Grant
Fareshare UK- Vale lane
Fareshare UK- Devon & Cornwall
Fareshare UK- Health & Safety
Farechance
Feeding Bristol - Household Support
Fund
The David Gibbons Foundation
HAF Winter Programme Grant 2024
Go South West
The Grace Trust - Devon only
Norman Family Charity Trust and
Notglove Trust
26,236
35,800
30.980
(34,277)
(30.980)
(10,080}
27,759
10.080
67,750
20,830
(13.1251
(13,907)
11.000)
54.625
16,923}
12.574)
28.500
24.926
46.216
145,3281
14,000}
124,060}
(7161
14.0001
888
24,060
1,500
784
10.000
iio.0001
-32-

COMMUNITY INITIATIVES SOUTH WEST UMtrED
TIA FARESHARE SOUTH WEsr
NOTES TO THE FINANCIAL sfATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Restrirted funds
(Contfnued)
Groundworks- Tesco Comminty Grants
Hob50n van Fuel & Maintenance
Albert Casanova Ballard Deceased
Nisbet Trust
Fareshare UK- Yorkshire Building
Society
Fareshare UK - Fuel Grant 2
John James- core Bristol
Eurofins
7,125
15.673
(7,125)
(15,673)
1,000
23,002
19,564
30.000
(26,562)
11,898
1,584
42,0(M)
38,333
35.oIXI
18,210
(39,8721
139,9171
110.7611
{9,4921
{1,3101
12,716
24.239
21,891
13,173
171,115
372,397
(322,3401 (29.3421
191,830

COMMUNITY INITIATIVES soufH WEsf LIMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2025
18 Restrfcted funds
(Continued)
Grants receivable for the specific purpose of purchasing fixed assets are held in Restricted funds until the
asset has been purchased. The Trustee5 then consider whether the terms of the gift require the Charf(y to
hold the asset as restricted or whether it can be trdnsferred to unrestricted for the continued use of the
charity to be used as they see fit. For assets purchased using restricted funds in the current year the
Trustees have assessed that all assets have then become unrestricted therefore transfers have been made
to reduce these funds to nil.
St John's Foundation
These funds were given to maintain existing operations of the Charity's surplus food support across the
ath & North East Somerset18ANES} region.
Household Support Fund Wlnter Grant
Distribution of the Westminster Governmenvs Winter 2024-2025 Household Support Funding to support
low-income families in the Greater Bristol region. It enabled the Charity to intensively support Bristol
charities over the twtrweek Christmas period and get a greater volume of food out to popup Winter
Projects.
Fareshare UK- Vale Lane Freezer
An award to the Vale Lane Warehouse in Bristol to enable freezer capability within the warehouse
(including re-building an existing chiller the warehouse), and enable frozen deliveries to members.
Fareshare UK- Devon & Comwall
A two-stage grant to facilitate infrastructure investment in the Devon and Cornwall region. The fi'rst stage
of fundin8 was to purchase a van to facilitate expansion across the region. The second stage is investment
into creating an enhanced local collection point in St Columb (laurbching 20261.
Fareshare UK- Health & Safety
An award to take all of the Charity's V￿rehOuse environments over and above the highest level of Health &
Safety Environmental criteria.
Farechance
A grants from The Elm Trust, The 2W May 1961 Charitable Trust. The Swire Charitsble Trust, and The
Hedley Foundation towards the costs of the Farechance employability programme.
Feeding 8r15tol- Household Support Fund
Distribution of the Westminster Government's Winter 2024-2025 Household Support Funding to support
low-income families in the Greater Bristol region. It enable the charity to increase the supply of fDod
available by using funds to purchase a greater variety of culturally-appropriate food for the city's families
plus foodstuffs not generally available as surplus such as fresh meat.
The David Glbbons Foundation
A grant to support the existing operations of the Charity's surplus food support across East Devon.
HAF Winter Programme Grdnt 2024
These funds were given for the provision of food hampers to be distributed to Iow-income families with
children in full-time education across the greater Bristol region in December 2024, from the Ashton Gate
warehouse.
Go South West
A corporate donation supporting volunteer trdvel expenses in Plymouth.

COMMUNITY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE soufH WEsr
NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Restrirted fund5
(Contlnued)
The Grace Trust- Devon Only
A grant to support the existing operations of the Charity's surplus food support across Devon.
Nornian Famlly Charity Trust
A small grant was provided to support our Plymouth warehouse operational costs enabling the Charity's
surplus food support across Devon and Cornwall.
Notglove Trust- Devon only
A grant to support the existing operations of the Charity's surplus food support across Gloucestershire and
the running costs of the Farechance employability programme.
Tesco Stronger Starts- Groundworks
Multiple small grants towards existing operations of the Charivs surplus food redistribution based in
partner community Store locations.
Hobson Charltsble Trust
A grant was given to support van costs associated with the Charity's winter work supporting those affected
by the cost-of-living crisis. Funding CoVe￿d fuel costs for November and Decernber 2023 and contributed
to van maintenance costs for the period November 2023 - March 2024.
Albert Casanova Ballard Deceased
A grant to support the existing operations of the Charitvs surplus food redistribution tackling fijod
insecurity in Plymouth.
Nisbet Trust
A grant to support a welcoming and inspiring volunteering environment for the whole Bristol commurity,
including the development and delivery of the Farechance employability programme.
Fareshare UK- yorkshi￿ Building Sodety
Part of a four-stage 8rant over three financial years to support the Farechance employability programme,
specifically funding salary costs. participants costs and one-off set-up programme costs.
Fareshare UK- Fuel Grant 2
A grant provided to cover the fuel costs of van5 delivering food to the Charivs members between April -
December 2024.
John James- core Brlstol
A grant to support the Charity's operations across Bristol
Euroflns
The second instalment of a two-year grant to support the Charity's Plymouth warehouse operational costs
enabling the Charity to rescue and share surplus food to communities across Devon and Cornwall.
-35-

COMMUNITY INITIATIVES SOUTH WEsf UMITED
TIA FARESHARE SOUTH WEST
NOTES TO THE FINANCIAL sfATEMENTS IcoKfiNUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 Unrestrlcted 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.
At l April 2024
Incomlng
resources
Resources
expended
Transfers At 31 March
2025
General funds
873.373
1.372,290
(1,925.329)
29,342
349,676
Previous year:
At l April 2023
Incoming
resources
Resources
expended
Trnnsfers At 31 March
Z024
General funds
893.386
1,402,542
11,585,683)
163.128
873,373
20 Analysls of net assets between funds
Unrestrirted
funds
2025
Restricted
funds
2025
Total
Z025
At 31 March 2025:
Tangible assets
Current assetsl{liabilitiesl
434,534
{84.858)
434,534
106.972
191,830
349.676
191,830
541,506
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible a55ets
Current assets/{li3bilities)
483.352
390,021
483,352
561.136
171,115
873,373
171,115
1.044,488

COMMUNtrY INITIATIVES SOUTH WEST LIMITED
TIA FARESHARE soufH WEsr
NOTES TO THE FINANCIAL sfATEMENTS (coKnNUED)
FOR THE YEAR ENDED 31 MARCH 2025
21 Operating lease commltments
At the reporting end date the Charity had outstanding commitments for future minimum lease payments
under non-cancellable operating leases, which fall due as follows:
2025
20Z4
Within one year
Between two and five years
53,848
7,815
30,850
60,588
61,663
91.438
22 Related party transartlons
During the year the charity recelved £5,100 in donations from Trustees (2024: £5,000) and £l,OtM) {2024:
£7,000) in donations from other organisations associated with the Trustees.
In addition to this the charity paid £44,CM)5 in bookkeeping and accounting costs to a business in which two
trustees are employees. The business managed the migration of the accounts to a new accounting sOft￿re,
supported the development and implementation of new accounting systems and Pro￿dures, and provided
interim finance cover during the recruitment for new internal finance staff.
23 Cash generated from operations
2025
2024
{Deficit)Isurpus for the year
{502,982)
126.652
Adjustments for..
Loss on disposal of tanglble fixed assets
Depreciation and impairment oftangible fixed assets
11.431
96,845
8,057
97.760
Movements in working capital:
Decreasellincrease) in debtors
Increase in creditors
125,427
31.728
1144.9171
66,401
Cash (absorbed by)/generated from operations
1237.551)
153,953
Z4 Analysis of changes In net fvnds
The Charity had no material debt during the year.
-37-