Trustees Report and Financial Statements for the Year Ended 31st October 2021 foodb 6538 FOOD PARCELS GIVEN OUT 455 DEUVERIES CARRIED 1954 FOOD PARCELS GNEN OUT TO LOCAL CHILDREN 103,676 KILOGRAMS OF FOOD DONATED .Y74 8000+ VOLvpifEER HOURS GIVEN
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 2
Contents
| Letter from our Trustees | Page 3 |
|---|---|
| Structure, Governance & Management | Page 4-5 |
| Objectives & Aims | Page 6-7 |
| Statistics | Page 8-9 |
| Main Activities & Achievements in 2020/21 | Page 10 |
| Other News | Page 11 |
| Financial Review | Page 12 |
| Reference and Administrative details | Page 13 |
A young man called Jae raised funds for Exeter Foodbank by selling his artwork! He then did a big shop for us!
Our Distribution Centre at The Mint Methodist Church, Exeter
Throughout our Annual Report there are stories & quotes from our clients. We collect these stories and they are shared with permission to show the situations facing local people, to input into the national discussion and to show future clients that they are not alone in the struggles that they are facing.
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 3
Exeter Foodbank – letter from our Trustees
With so much going on in the world during a global pandemic, the easy decision would probably have been to ‘maintain’ rather than ‘develop’ the charity. However, that is really not what we felt that we should do at Exeter Foodbank. Many situations of adversity bring opportunity.
Our ‘opportunity’ during Covid was to reflect upon everything that we were doing and to improve it. We chose not to go back to the way that things were – but to make them better. Our main aim is always to improve our service for our clients.
Tackling the root causes of poverty is our passion. To this end, we were delighted to appoint an Advice Worker in 2020. This was a change in ‘tempo’ for us. We are not content to simply hand out emergency food. We have a passion to help people to have improved lives - with better help and greater resources. While having one Advice Worker cannot make all of this happen, it can make a difference. It also enables Exeter Foodbank to have time to collaborate better with other agencies across the city who are also able to support clients to make these changes.
This year we have seen clients receive greater help with issues like debt, housing and benefits than we have been able to assist with before. It has been a dramatic change in the direction of our work and we are very pleased with how this is going.
Beyond that, as our clients were able to come out of their homes again after the various lockdowns they found a new style of foodbank available in Exeter. As well as much greater selection of items (including fresh fruit, veg and bread) they found a new shopping system in place. The excitement on the faces of both children and adults when they came to us and found that they were not only ‘recipients’ but ‘participants’ was amazing to see.
Sometimes it is small differences that make big changes. All of these changes are aimed at helping us to live up to our motto of ‘restoring dignity and reviving hope’.
Yes, we did give out a lot of boxes of food. But the number of boxes pales into insignificance when balanced against the number of people who came in to us and found support, advice, choice, hospitality and dignity. That is what we strive for. That is why we work with thousands of generous people across the city, over 170 volunteers and more than 150 professional agencies to achieve.
This year we are joining with the Trussell Trust in exploring steps to a future with a reduced need for foodbanks in the UK. That is our dream. However, until that day comes, all of us (from our Trustees to our volunteers) will continue to work together to make this the most welcoming and supportive charity that we can.
Once again, we thank our staff, our volunteers, the wonderful public in Exeter and my fellow trustees for making all of this happen. We work with countless churches, community groups, supermarkets, schools and workplaces. Amazingly, through a combination of human kindness and divine provision, our cupboard has never been empty – even through all of the challenges that we have faced in recent years. Our story is one of gratitude for the kindness that we regularly receive in so many ways. Thank you.
Sarah Hornblower, Chair of Trustees
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 4
2) STRUCTURE, GOVERNANCE & MANAGEMENT
2.1 Governing Document
Exeter Foodbank was incorporated as a company limited by guarantee on 8 June 2008. It registered as a charity with the Charities Commission on 25th March 2009 under charity number 1128795.
2.2 Organisational Structure
Trustees: Exeter Foodbank is directed by a board of trustees drawn from local churches, who also serve as directors for the purpose of company law. Trustees are appointed at the charity’s Annual General Meeting.
The board takes responsibility for all policy decisions and the charity’s finances. The minutes of board meetings constitute the formal record of proceedings and decisions taken and approved by the trustees.
Financial Oversight: The treasurer of the charity is also a trustee and reports regularly to the trustees as to the charity’s ongoing financial status. A trained volunteer carries out much of the dayto-day financial management of the food bank, under the close supervision of the treasurer and a second designated trustee.
Employees: The Foodbank employs four part-time staff; a Project Manager, an Administrator, an Advice Worker and a Logistics Worker undertake the day-to-day running of the charity.
Management Team: The trustees have delegated much of the day-to-day running of the charity and operational decisions to a Management Team. Management Team meetings take place at least bimonthly; minutes are kept as a formal record of proceedings.
Volunteers: The Foodbank benefits from the service of approximately 170 volunteers, who are recruited from all sections of the local community. Voluntary team leaders oversee specific areas of operation.
Related Organisations: Exeter Foodbank is affiliated to the Trussell Trust, a charity based in Salisbury, which is registered in England and Wales under charity number 1110522.
2.3 Risk Management
Risk Register & Policies: The trustees give consideration to the major risks to which the charity is exposed via a risk register when updating its annual plan. These include internal and external risks that, if occurring, would be likely to affect finance and resources and other aspects of the work of the charity. The trustees are satisfied that procedures and systems are in place to monitor and control these risks to mitigate any impact that they may have on the charity and in its future operations.
Exeter Foodbank has an appropriate manual for staff, volunteers and clients of the charity which is reviewed annually. This includes policies covering Data Protection, Equal Opportunities, Health & Safety, Safeguarding (Vulnerable Adult and Child Protection) and Complaints.
Financial Procedures: The trustees have ensured that comprehensive insurance cover is in place to cover risks. A Financial Procedures Policy has been implemented, and finances are kept under regular review. The financial statements have been prepared in accordance with the accounting policies set out below and comply with the charity’s Memorandum and Articles of Association and in accordance with applicable accounting standards, and with the requirements of the Revised
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 5
Statement of Recommended Practice “Accounting and Reporting by Charities” issued in 2005 and with the Companies Act.
GDPR: EFB takes Data Protection very seriously. We ensure that all of our online and office practice are in line with the General Data Protection Regulations which were implemented in May 2018. We review all of these policies annually and update them with guidance from The Trussell Trust.
Quality Assurance: The Trussell Trust carries out regular quality assurance inspections of Exeter Food Bank, including in areas of statutory compliance, working practices, volunteer roles, public relations and communications, fundraising, safeguarding and sustainability.
One of our 170 volunteers test drives our new shopping trolley!
Exeter Foodbank’s Manager, Mark (left), with Tesco’s Community Champion, John Smith at our annual Tesco Collection
“My partner works 40 hours a week and we have a 3-month-old baby but we have to choose whether to pay the bills or buy food. My partner earns too much to get help from Universal Credit but not enough to survive on what he earns and because of Covid I did not earn enough to get maternity pay from the company I work for. I am a young mum and do not have the luxury of being able to put food on the table”
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 6
Aims and Objectives
3) OBJECTIVES, AIMS & ACTIVITIES
3.1 Charitable Objectives
The objective of the charity, as set out in the charity’s governing trust deed, is to relieve persons in the United Kingdom and elsewhere in the world who are in conditions of need, hardship or distress in such ways as the trustees from time-to-time think fit.
3.2 Aims
Emergency Food Provision: Exeter Foodbank seeks to alleviate food poverty in and around Exeter by providing short term, emergency food for families or individuals in crisis via a voucher referral scheme. Beneficiaries come from a broad cross-section of the local community; they include families, young people, both the unemployed and those in work. Anyone can be referred to Exeter Foodbank, regardless of background, belief, race or creed.
Contextual Support: Through Advice Work, close partnership working and effective sign-posting, the Foodbank aims to relieve the immediate physical and psychological pressures caused by food poverty, whilst ensuring that more long-term support is put in place.
Raising Awareness of Food Poverty: Additionally, Exeter Foodbank aims to raise awareness of the complex issues that surround food poverty and to contribute to research into its causes. In doing so, we aim to improve public understanding of the causes of food poverty, engender greater community cohesion and contribute constructively to public debate.
Collectively, these measures aim both to meet immediate local need and to address the wider causes of food poverty, in order to promote long term change.
3.3 Public Benefit
Each year, our trustees review our activities and strategies to ensure that we are effective in reaching those most in need of assistance in the local area, and in meeting our longer term aims. In carrying out this review, the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the Prevention of Relief of Poverty for the Public Benefit.
3.4 How the Foodbank Works
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Non-perishable food is donated by members of the public from a prescribed list
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Food is transported to our warehouse, where it is sorted by date and by type.
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Clients in crisis are assessed by one of our authorised referral agencies and are issued with a foodbank voucher.
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Clients bring their voucher to one of our food distribution sessions where it is exchanged for nutritionally-balanced food
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Clients are encouraged to access further sign-posting and support services, as required.
3.5 Objectives for the Year
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To further develop robust, sustainable administrative resources and governance structures to support the consistently high volume of clients using our service.
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To improve access to our services for previously under or unreached groups, including vulnerable people in outlying areas of the city.
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 7
• To provide further support in helping clients to address the underlying causes of their crises.
• To embark on the journey of becoming one of the Trussell Trust Pathfinder Foodbanks which are committed to challenging and reducing the need for mass handout of emergency food parcels in our local community.
3.6 Strategies for Achieving the Objectives
• Investment in further sign-posting resources and building relationships with local support agencies. Potentially expanding our Advice Work with another employee.
• To utilise the Trussell Trust’s eVouchers system which will allow our referrers to issue vouchers to clients electronically. This system allows agencies to give vouchers to clients over the phone or email, which removes the need to clients to physically go to the agency each time they need a voucher. It also enables the referrer to see if clients have had an excessive number of vouchers in recent weeks/months and gives them more indication of the reasons for the crisis facing the person.
• Continuing discussions with community groups in rural areas around the city to assess the need for foodbank voucher holders, emergency food boxes and access to our service in those areas. We have already begun this project but look to make further support available as needed.
“Me and my daughter went to the foodbank today and I want to say a big thank you! It has helped massively! I was really beginning to struggle with increased heating costs due to cold weather, rising food costs due to schools closing and my child being at home all day and lower money coming in due to being furloughed off so things were getting really tough. Thanks to your team we can now make it through the week. The ladies at the foodbank were really nice and caring and very helpful. They gave me a contact flyer for Ali, a new support worker. It is great to know there’s someone I can call for help with other issues at this time. It’s heart-warming to know we have a caring community available during these times. Thank you so much to all of the wonderful people who help at the foodbank and make it happen and to all those who have donated. Thank you very, very much once again!”
The EFB Store. Thanks to the kindness of local farmers Rob and Helen Taverner, we have a store which has been large enough to cope with the demands of a growing charity.
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 8
Statistics
Upon first reading, our figures suggest that there was a decrease in demand for support from foodbank from the previous year. However, these figures do not take fully into account the significant levels of support that we gave to some of the other food provision projects in the city during the coronavirus pandemic. As a well-established charity who benefits from wonderful public support, we were also able to support other foodbanks in the surrounding area.
Figure 1: Shows that we gave out a total of 6538 food parcels at our two main Distribution Centres in Exeter; of these, 1964 were for local children
Figure 2: Shows the distribution of food parcels and the size of the households. This does reveal that the largest number of referrals are for single people. The cost of living (especially the cost of housing) for single people continues to be a significant problem.
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 9
Figure 3: shows the ages of the clients supported in Exeter by this charity.
Figure 4: Shows the reasons why clients need to visit foodbank in Exeter. The vast majority are reported as ‘low income’. This figure can include both households that are on low earnings and those who are struggling to afford the basic necessities while being supported by the Benefit System.
We see a significant number of households who simply cannot manage the final week of each month before their wages are paid. This number appears to be increasing rather than decreasing.
“Thank you so much… it actually made me cry when I saw chocolate spread... something that my child took for granted but now such a special treat. I am overwhelmed by the generosity... My oldest daughter has made a menu for the week… she was amazed by the experience and the warm welcome we received. Thank you so much this has really boosted our morale... just being able to have cereal again. Much love”
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 10
Major Developments
During this period, we continued to see the emergence of other crisis food provision in the city. Several new projects began to offer food. We have been actively looking at how we can work together to offer as much support to the people of Exeter as possible. We have been a key contributor to The Exeter Free Food Network (now known as Exeter Community Food Network ).
On some occasions we were able to give food or logistical help. However, the main need was to offer clients help to access all of the support and benefits that were available to them during the pandemic. This was the perfect time for EFB to appoint a part-time Advice Worker.
By the end of October 2021, our Advice Worker, Ali, had supported over 70 clients at length in issues like benefit support, housing advice or debt advice. Our aim of tacking some of the root causes of poverty remains central to our work.
Because of this, we also reviewed the way that our pathway to referral works. We now ask new clients to ‘Ask Ali’ with a direct phone line to referral. We will then be able to offer immediate support while helping them to find the best professional agency in the city to assist with the best long-term support for them.
While we made these very positive changes, we also changed the way that clients were able to choose and collect their food. In May 2021 we opened ‘The Mint Food Store’ (at The Mint Methodist Church). Our new system is much more like shopping; we give each client use of a shopping trolley or basket and they are able to choose their own items. This model has been enthusiastically embraced, not only by the clients, but also by Trussell Trust, who have put many other foodbanks in contact with us to see how we are running our sessions. We believe that this gives the client much more dignity than simply being given a pre-packed box.
So, over the course of the year, the way that people access our service and the way that they collected their food has all changed for the better. We have since adapted the way that clients collect food at ‘The Beacon Food Store’ (at The Beacon Community Centre) at our other Distribution Venue. We would like to thank both The Mint Methodist Church and The Beacon Community Centre for their ongoing support and commitment.
As we were also fortunate enough to receive such generous support from the local community, we have also begun to purchase fresh fruit and vegetables twice each week to complement the longlife, tinned and dried items that foodbanks offer. We feel that this is vitally important in giving a healthy and balanced diet.
Because of innovations like these, in September 2021, we were excited to be asked to join the Trussell Trust ‘Pathfinder’ project. The aim of Pathfinder, is two-fold. We will be spending the next three years exploring how to make foodbank into the very best provision that we can for our clients. However, and perhaps even more importantly, we will be examining ways that we can help clients to tackle some of the root causes of poverty and avoid needing to access the foodbank by ensuring that they are receiving all of the available support. We are one of 61 Trussell Trust foodbanks in Britain who have been chosen to join on this journey.
Pathfinder will also help us to further raise awareness of food poverty, access further information on the causes of this and also more actively contribute to the national discussion about this at the highest levels.
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 11
Other News:
- We continue to receive amazing support from most local supermarkets across the city. Last year we received in excess of 100,000kg of food donations! We have good relationships with the local Tesco, Morrison’s, Waitrose, Co-op and Sainsbury’s. We also regularly receive donations from schools, churches, businesses and community groups.
This year did see a significant drop in some areas of donations as many workplaces and schools were unable to physically meet. However, we were still able to give almost every item to every client during the year.
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Christmas 2020 saw us involved in various initiatives including working with local business Dart’s Farm to enable 75 local families to have a turkey Christmas dinner with all of the trimmings! Dart’s Farm also supported us at various other times in the year with items like luxury Easter Hampers.
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Our #efbchristmasinabag2020 project saw over 300 donations of Christmas Hampers donated. All of these were given to local families.
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We worked with a group of local churches to give more than 200 Toy Vouchers to local families to buy Christmas Gifts for their children. All of these referred families were facing times of financial insecurity.
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We were able to offer Work Experience and Duke of Edinburgh placements to young people who wanted to find out about our charity and support their local community.
“I just want to say a massive thank you for your help. I got a referral and went to the foodbank. Never have I felt so relieved in my whole life. So much thanks to you and the truly wonderful team you had working today. I was embarrassed and so low and not only did they give me food but empathy and compassion…. A wonderful, wonderful bunch of people…. So much thanks”
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 12
Financial Review (See separate report)
Financial statements
Principal Funding Sources Reserves Policy
Trustees’ Responsibilities in Respect of the Accounts
The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of its financial activities for that period. In preparing those accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the accounts comply with the Charities Act 1993 and the Charities Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chair of Trustees Date: October 31[st] 2021
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Exeter Foodbank Trustees’ Report from the Year ended 31[st] October Page 13
Reference & Administrative Details
Charity Name Exeter Food Bank Charity Number 1128795 Company Registration Number 6718767 Trustees Mr Stephen Davis Mr Gary Flint Mr Richard Judd Mr Gerald Hunt Mrs Sarah Hornblower (Chair) Company Secretary Mr Gary Flint Registered Office Exeter Foodbank 26 Clyst Heath Exeter Devon EX2 7TA Bankers Co-operative Bank PO Box 250 Delf House Skelmersdale WN8 6WT
Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales
Company registration number: 06718767 Charity registration number: 1128795
Exeter Food Bank
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 October 2021
Stapletons Chartered Certified Accountants 4 Market Street Crediton Devon EX17 2AJ
Exeter Food Bank
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 18 |
Exeter Food Bank
| Reference and Administrative Details | Reference and Administrative Details | |
|---|---|---|
| Trustees | Mr G W Hunt | |
| Mrs S P Hornblower | ||
| Mr S Davis | ||
| Mr R Judd | ||
| Secretary | Mr G Flint | |
| Principal Office | 26 Clyst Heath | |
| Exeter | ||
| Devon | ||
| EX2 7TA | ||
| Registered Office | 26 Clyst Heath | |
| Exeter | ||
| Devon | ||
| EX2 7TA | ||
| The charity is incorporated in England and Wales. | ||
| Company Registration Number | 06718767 | |
| Charity Registration Number | 1128795 | |
| Independent Examiner | Stapletons | |
| Chartered Certified Accountants | ||
| 4 Market Street | ||
| Crediton | ||
| Devon | ||
| EX17 2AJ |
Page 1
Exeter Food Bank
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 October 2021.
Objectives and activities
Public benefit
Exeter Food Bank provides short term food supplies to local people in crisis referred to us by a number of agencies and charities.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
The annual report was approved by the trustees of the charity on 23 June 2022 and signed on its behalf by:
......................................... Mr G W Hunt Trustee
Page 2
Exeter Food Bank
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Exeter Food Bank for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.
Approved by the trustees of the charity on 23 June 2022 and signed on its behalf by:
......................................... Mr G W Hunt Trustee
Page 3
Exeter Food Bank
Independent Examiner's Report to the trustees of Exeter Food Bank
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 October 2021 which are set out on pages 5 to 18.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Exeter Food Bank (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Exeter Food Bank 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Exeter Food Bank'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 , 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:
1. accounting records were not kept in respect of Exeter Food Bank as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 accounts to be reached.
...................................... Stapletons Chartered Certified Accountants 4 Market Street Crediton Devon EX17 2AJ
23 June 2022
Page 4
Exeter Food Bank
Statement of Financial Activities for the Year Ended 31 October 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 Unrestricted funds £ 178,760 11,940 667 191,367 (4,970) (58,799) (63,769) 127,598 127,598 152,046 279,644 |
Unrestricted funds £ 243,774 7,440 459 |
Total 2021 £ 243,774 7,440 459 |
|
|---|---|---|---|---|
| 251,673 | 251,673 | |||
| (13,298) (82,854) |
(13,298) (82,854) |
|||
| (96,152) | (96,152) | |||
| 155,521 | 155,521 | |||
| 155,521 279,644 |
155,521 279,644 |
|||
| 435,165 | 435,165 | |||
| Total 2020 £ 178,760 11,940 667 |
||||
| 191,367 | ||||
| (4,970) (58,799) |
||||
| (63,769) | ||||
| 127,598 | ||||
| 127,598 152,046 |
||||
| 279,644 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 7 to 18 form an integral part of these financial statements. Page 5
Exeter Food Bank
(Registration number: 06718767) Balance Sheet as at 31 October 2021
| Note Fixed assets Tangible assets 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 18 |
2021 £ 16,074 24,465 401,336 425,801 (6,710) 419,091 435,165 435,165 435,165 |
2020 £ 1,875 23,958 254,446 |
|---|---|---|
| 278,404 (635) |
||
| 277,769 | ||
| 279,644 | ||
| 279,644 | ||
| 279,644 |
For the financial year ending 31 October 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 18 were approved by the trustees, and authorised for issue on 23 June 2022 and signed on their behalf by:
......................................... Mr G W Hunt Trustee
The notes on pages 7 to 18 form an integral part of these financial statements. Page 6
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 26 Clyst Heath Exeter Devon EX2 7TA The principal place of business is: 26 Clyst Heath Exeter Devon EX2 7TA
These financial statements were authorised for issue by the trustees on 23 June 2022.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Exeter Food Bank meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 7
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Page 8
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Page 9
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of fnancial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 10
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 11
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2021 Total for 2020 4 Income from other trading activities Events income; Other events income Total for 2021 Total for 2020 |
Unrestricted funds General £ 243,774 243,774 178,760 Unrestricted funds General £ 7,440 7,440 11,940 |
Total funds £ 243,774 |
|---|---|---|
| 243,774 | ||
| 178,760 | ||
| Total funds £ 7,440 |
||
| 7,440 | ||
| 11,940 |
Page 12
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Total for 2021 Total for 2020 |
Unrestricted funds General £ 459 459 667 |
Total funds £ 459 |
|---|---|---|
| 459 | ||
| 667 |
6 Expenditure on raising funds
a) Costs of trading activities
| Costs of goods sold Total for 2021 Total for 2020 Costs of trading activities Total for 2021 Total for 2020 7 Expenditure on charitable activities Note Governance costs 8 Governance costs Total for 2020 |
Note Unrestricted funds General £ 82,854 Note 8 |
Unrestricted funds General £ 13,298 13,298 4,970 Direct costs £ 13,298 13,298 4,970 Total 2021 £ 82,854 Unrestricted funds General £ 82,854 58,799 |
Total funds £ 13,298 |
|---|---|---|---|
| 13,298 | |||
| 4,970 | |||
| Total costs £ 13,298 |
|||
| 13,298 | |||
| 4,970 | |||
| Total 2020 £ 58,799 |
|||
| Total funds £ 82,854 |
|||
| 58,799 |
Page 13
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
8 Analysis of governance and support costs
Governance costs
| Staff costs Other staff costs Audit fees Other fees paid to auditors Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs Staff costs Other staff costs Audit fees Other fees paid to auditors Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs |
Unrestricted funds General £ 45,599 1,208 11 5,909 30,127 82,854 Unrestricted funds General £ 33,198 672 107 1,875 22,947 58,799 |
Total 2021 £ 45,599 1,208 11 5,909 30,127 |
|---|---|---|
| 82,854 | ||
| Total 2020 £ 33,198 672 107 1,875 22,947 |
||
| 58,799 |
Page 14
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
9 Net incoming/outgoing resources
Net incoming resources for the year include:
| Loss on disposal of fixed assets held for the charity's own use Depreciation of fixed assets |
2021 £ (1,325) 7,234 |
2020 £ - 1,875 |
|---|---|---|
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
11 Staff costs
The aggregate payroll costs were as follows:
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Staff | costs | during | the | year | were: | ||
| Other | staff | costs | 45,599 | 33,198 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Employee numbers No employee received emoluments of more than £60,000 during the year. 12 Auditors' remuneration Other fees to auditors The auditing of accounts of any associate of the charity |
2021 No 4 2021 £ 1,208 |
2020 No 3 |
|---|---|---|
| 2020 £ 672 |
Page 15
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
| Cost At 1 November 2020 Additions Disposals At 31 October 2021 Depreciation At 1 November 2020 Charge for the year Eliminated on disposals At 31 October 2021 Net book value At 31 October 2021 At 31 October 2020 15 Debtors Prepayments Other debtors 16 Cash and cash equivalents Cash at bank 17 Creditors: amounts falling due within one year Other creditors Accruals Page 16 |
Furniture and equipment £ - 1,039 - 1,039 - 260 - 260 779 - |
Furniture and equipment £ - 1,039 - 1,039 - 260 - 260 779 - |
Motor vehicles £ 11,784 20,394 (4,284) 27,894 9,909 6,974 (4,284) 12,599 15,295 1,875 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
Motor vehicles £ 11,784 20,394 (4,284) 27,894 9,909 6,974 (4,284) 12,599 15,295 1,875 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
Total £ 11,784 21,433 (4,284) 28,933 9,909 7,234 (4,284) 12,859 16,074 1,875 2020 £ 16,210 7,748 |
|---|---|---|---|---|---|
| 1,039 | |||||
| - 260 - |
|||||
| 260 | 12,599 | ||||
| 779 | 15,295 | ||||
| - | 1,875 | ||||
| 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
|||||
| 23,958 | |||||
| 2020 £ 254,446 |
|||||
| 2020 £ 215 420 |
|||||
| 635 | |||||
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
18 Funds
| 18 Funds | |||
|---|---|---|---|
| Balance at 1 November 2020 £ Unrestricted funds General Unrestricted funds 279,644 Restricted funds Restricted funds - Total funds 279,644 Balance at 1 November 2019 £ Unrestricted funds General Unrestricted funds 152,046 19 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Incoming resources £ 250,523 1,150 251,673 Incoming resources £ 191,367 Unrestricted funds General £ 16,074 425,801 (710) 441,165 |
Resources expended £ (95,002) (1,150) (96,152) Resources expended £ (63,769) Restricted funds £ - - (6,000) (6,000) Unrestricted funds General £ 1,875 278,404 (635) 279,644 |
Balance at 31 October 2021 £ 435,165 - |
| 435,165 | |||
| Balance at 31 October 2020 £ 279,644 |
|||
| Total funds at 31 October 2021 £ 16,074 425,801 (6,710) |
|||
| 435,165 | |||
| Total funds at 31 October 2020 £ 1,875 278,404 (635) |
|||
| 279,644 |
Page 17
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
20 Analysis of net funds
| 20 Analysis of net funds | |||
|---|---|---|---|
| Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
At 1 November 2020 £ 254,446 254,446 At 1 November 2019 £ 144,763 144,763 |
Financing cash flows £ 146,890 146,890 Financing cash flows £ 109,683 109,683 |
At 31 October 2021 £ 401,336 |
| 401,336 | |||
| At 31 October 2020 £ 254,446 |
|||
| 254,446 |
Page 18
Exeter Food Bank
Statement of Financial Activities by fund for the Year Ended 31 October 2021
Unrestricted Funds
| Income and Endowments from: Donations and legacies Other trading activities Investment income Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2021 £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 |
Total Unrestricted Funds 2020 £ 178,760 11,940 667 |
|---|---|---|
| 191,367 | ||
| (4,970) (58,799) |
||
| (63,769) | ||
| 127,598 | ||
| 127,598 152,046 |
||
| 279,644 |
This page does not form part of the statutory financial statements. Page 19
Exeter Food Bank
Detailed Statement of Financial Activities for the Year Ended 31 October 2021
| Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Investment income (analysed below) Total income Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 |
Total 2020 £ 178,760 11,940 667 |
|---|---|---|
| 191,367 | ||
| (4,970) (58,799) |
||
| (63,769) | ||
| 127,598 | ||
| 127,598 152,046 |
||
| 279,644 |
This page does not form part of the statutory financial statements. Page 20
Exeter Food Bank
Detailed Statement of Financial Activities for the Year Ended 31 October 2021
| Donations and legacies Donations Other trading activities Fundraising Investment income Bank interest Raising funds Purchases Charitable activities Contract staff Staff and volunteer expenses Rent and service charges Warehouse items Admin expenses Trade subscriptions Charitable donations Sundry expenses Motor expenses Fundrasing Accountancy fees Depreciation of plant and machinery Depreciation of motor vehicles (Profit)/loss on sale of tangible fixed assets held for charity's own use |
Total 2021 £ 243,774 243,774 7,440 7,440 459 459 (13,298) (13,298) (45,312) (287) (14,951) (1,040) (2,849) (583) (4,460) (375) (5,869) (11) (1,208) (260) (6,974) 1,325 (82,854) |
Total 2020 £ 178,760 |
|---|---|---|
| 178,760 | ||
| 11,940 | ||
| 11,940 | ||
| 667 | ||
| 667 | ||
| (4,970) | ||
| (4,970) | ||
| (32,428) (770) (8,240) (4,196) (1,779) (665) (2,500) (875) (4,692) (107) (672) - (1,875) - |
||
| (58,799) |
This page does not form part of the statutory financial statements. Page 21
Company registration number: 06718767 Charity registration number: 1128795
Exeter Food Bank
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 October 2021
Stapletons Chartered Certified Accountants 4 Market Street Crediton Devon EX17 2AJ
Exeter Food Bank
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 18 |
Exeter Food Bank
| Reference and Administrative Details | Reference and Administrative Details | |
|---|---|---|
| Trustees | Mr G W Hunt | |
| Mrs S P Hornblower | ||
| Mr S Davis | ||
| Mr R Judd | ||
| Secretary | Mr G Flint | |
| Principal Office | 26 Clyst Heath | |
| Exeter | ||
| Devon | ||
| EX2 7TA | ||
| Registered Office | 26 Clyst Heath | |
| Exeter | ||
| Devon | ||
| EX2 7TA | ||
| The charity is incorporated in England and Wales. | ||
| Company Registration Number | 06718767 | |
| Charity Registration Number | 1128795 | |
| Independent Examiner | Stapletons | |
| Chartered Certified Accountants | ||
| 4 Market Street | ||
| Crediton | ||
| Devon | ||
| EX17 2AJ |
Page 1
Exeter Food Bank
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 October 2021.
Objectives and activities
Public benefit
Exeter Food Bank provides short term food supplies to local people in crisis referred to us by a number of agencies and charities.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
The annual report was approved by the trustees of the charity on 23 June 2022 and signed on its behalf by:
......................................... Mr G W Hunt Trustee
Page 2
Exeter Food Bank
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Exeter Food Bank for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.
Approved by the trustees of the charity on 23 June 2022 and signed on its behalf by:
......................................... Mr G W Hunt Trustee
Page 3
Exeter Food Bank
Independent Examiner's Report to the trustees of Exeter Food Bank
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 October 2021 which are set out on pages 5 to 18.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Exeter Food Bank (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Exeter Food Bank 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Exeter Food Bank'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 , 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:
1. accounting records were not kept in respect of Exeter Food Bank as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 accounts to be reached.
...................................... Stapletons Chartered Certified Accountants 4 Market Street Crediton Devon EX17 2AJ
23 June 2022
Page 4
Exeter Food Bank
Statement of Financial Activities for the Year Ended 31 October 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 Unrestricted funds £ 178,760 11,940 667 191,367 (4,970) (58,799) (63,769) 127,598 127,598 152,046 279,644 |
Unrestricted funds £ 243,774 7,440 459 |
Total 2021 £ 243,774 7,440 459 |
|
|---|---|---|---|---|
| 251,673 | 251,673 | |||
| (13,298) (82,854) |
(13,298) (82,854) |
|||
| (96,152) | (96,152) | |||
| 155,521 | 155,521 | |||
| 155,521 279,644 |
155,521 279,644 |
|||
| 435,165 | 435,165 | |||
| Total 2020 £ 178,760 11,940 667 |
||||
| 191,367 | ||||
| (4,970) (58,799) |
||||
| (63,769) | ||||
| 127,598 | ||||
| 127,598 152,046 |
||||
| 279,644 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 7 to 18 form an integral part of these financial statements. Page 5
Exeter Food Bank
(Registration number: 06718767) Balance Sheet as at 31 October 2021
| Note Fixed assets Tangible assets 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 18 |
2021 £ 16,074 24,465 401,336 425,801 (6,710) 419,091 435,165 435,165 435,165 |
2020 £ 1,875 23,958 254,446 |
|---|---|---|
| 278,404 (635) |
||
| 277,769 | ||
| 279,644 | ||
| 279,644 | ||
| 279,644 |
For the financial year ending 31 October 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 18 were approved by the trustees, and authorised for issue on 23 June 2022 and signed on their behalf by:
......................................... Mr G W Hunt Trustee
The notes on pages 7 to 18 form an integral part of these financial statements. Page 6
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 26 Clyst Heath Exeter Devon EX2 7TA The principal place of business is: 26 Clyst Heath Exeter Devon EX2 7TA
These financial statements were authorised for issue by the trustees on 23 June 2022.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Exeter Food Bank meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 7
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Page 8
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Page 9
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of fnancial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 10
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 11
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2021 Total for 2020 4 Income from other trading activities Events income; Other events income Total for 2021 Total for 2020 |
Unrestricted funds General £ 243,774 243,774 178,760 Unrestricted funds General £ 7,440 7,440 11,940 |
Total funds £ 243,774 |
|---|---|---|
| 243,774 | ||
| 178,760 | ||
| Total funds £ 7,440 |
||
| 7,440 | ||
| 11,940 |
Page 12
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Total for 2021 Total for 2020 |
Unrestricted funds General £ 459 459 667 |
Total funds £ 459 |
|---|---|---|
| 459 | ||
| 667 |
6 Expenditure on raising funds
a) Costs of trading activities
| Costs of goods sold Total for 2021 Total for 2020 Costs of trading activities Total for 2021 Total for 2020 7 Expenditure on charitable activities Note Governance costs 8 Governance costs Total for 2020 |
Note Unrestricted funds General £ 82,854 Note 8 |
Unrestricted funds General £ 13,298 13,298 4,970 Direct costs £ 13,298 13,298 4,970 Total 2021 £ 82,854 Unrestricted funds General £ 82,854 58,799 |
Total funds £ 13,298 |
|---|---|---|---|
| 13,298 | |||
| 4,970 | |||
| Total costs £ 13,298 |
|||
| 13,298 | |||
| 4,970 | |||
| Total 2020 £ 58,799 |
|||
| Total funds £ 82,854 |
|||
| 58,799 |
Page 13
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
8 Analysis of governance and support costs
Governance costs
| Staff costs Other staff costs Audit fees Other fees paid to auditors Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs Staff costs Other staff costs Audit fees Other fees paid to auditors Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs |
Unrestricted funds General £ 45,599 1,208 11 5,909 30,127 82,854 Unrestricted funds General £ 33,198 672 107 1,875 22,947 58,799 |
Total 2021 £ 45,599 1,208 11 5,909 30,127 |
|---|---|---|
| 82,854 | ||
| Total 2020 £ 33,198 672 107 1,875 22,947 |
||
| 58,799 |
Page 14
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
9 Net incoming/outgoing resources
Net incoming resources for the year include:
| Loss on disposal of fixed assets held for the charity's own use Depreciation of fixed assets |
2021 £ (1,325) 7,234 |
2020 £ - 1,875 |
|---|---|---|
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
11 Staff costs
The aggregate payroll costs were as follows:
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Staff | costs | during | the | year | were: | ||
| Other | staff | costs | 45,599 | 33,198 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Employee numbers No employee received emoluments of more than £60,000 during the year. 12 Auditors' remuneration Other fees to auditors The auditing of accounts of any associate of the charity |
2021 No 4 2021 £ 1,208 |
2020 No 3 |
|---|---|---|
| 2020 £ 672 |
Page 15
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
| Cost At 1 November 2020 Additions Disposals At 31 October 2021 Depreciation At 1 November 2020 Charge for the year Eliminated on disposals At 31 October 2021 Net book value At 31 October 2021 At 31 October 2020 15 Debtors Prepayments Other debtors 16 Cash and cash equivalents Cash at bank 17 Creditors: amounts falling due within one year Other creditors Accruals Page 16 |
Furniture and equipment £ - 1,039 - 1,039 - 260 - 260 779 - |
Furniture and equipment £ - 1,039 - 1,039 - 260 - 260 779 - |
Motor vehicles £ 11,784 20,394 (4,284) 27,894 9,909 6,974 (4,284) 12,599 15,295 1,875 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
Motor vehicles £ 11,784 20,394 (4,284) 27,894 9,909 6,974 (4,284) 12,599 15,295 1,875 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
Total £ 11,784 21,433 (4,284) 28,933 9,909 7,234 (4,284) 12,859 16,074 1,875 2020 £ 16,210 7,748 |
|---|---|---|---|---|---|
| 1,039 | |||||
| - 260 - |
|||||
| 260 | 12,599 | ||||
| 779 | 15,295 | ||||
| - | 1,875 | ||||
| 2021 £ 15,210 9,255 24,465 2021 £ 401,336 2021 £ 6,020 690 6,710 |
|||||
| 23,958 | |||||
| 2020 £ 254,446 |
|||||
| 2020 £ 215 420 |
|||||
| 635 | |||||
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
18 Funds
| 18 Funds | |||
|---|---|---|---|
| Balance at 1 November 2020 £ Unrestricted funds General Unrestricted funds 279,644 Restricted funds Restricted funds - Total funds 279,644 Balance at 1 November 2019 £ Unrestricted funds General Unrestricted funds 152,046 19 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Incoming resources £ 250,523 1,150 251,673 Incoming resources £ 191,367 Unrestricted funds General £ 16,074 425,801 (710) 441,165 |
Resources expended £ (95,002) (1,150) (96,152) Resources expended £ (63,769) Restricted funds £ - - (6,000) (6,000) Unrestricted funds General £ 1,875 278,404 (635) 279,644 |
Balance at 31 October 2021 £ 435,165 - |
| 435,165 | |||
| Balance at 31 October 2020 £ 279,644 |
|||
| Total funds at 31 October 2021 £ 16,074 425,801 (6,710) |
|||
| 435,165 | |||
| Total funds at 31 October 2020 £ 1,875 278,404 (635) |
|||
| 279,644 |
Page 17
Exeter Food Bank
Notes to the Financial Statements for the Year Ended 31 October 2021
20 Analysis of net funds
| 20 Analysis of net funds | |||
|---|---|---|---|
| Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
At 1 November 2020 £ 254,446 254,446 At 1 November 2019 £ 144,763 144,763 |
Financing cash flows £ 146,890 146,890 Financing cash flows £ 109,683 109,683 |
At 31 October 2021 £ 401,336 |
| 401,336 | |||
| At 31 October 2020 £ 254,446 |
|||
| 254,446 |
Page 18
Exeter Food Bank
Statement of Financial Activities by fund for the Year Ended 31 October 2021
Unrestricted Funds
| Income and Endowments from: Donations and legacies Other trading activities Investment income Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2021 £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 |
Total Unrestricted Funds 2020 £ 178,760 11,940 667 |
|---|---|---|
| 191,367 | ||
| (4,970) (58,799) |
||
| (63,769) | ||
| 127,598 | ||
| 127,598 152,046 |
||
| 279,644 |
This page does not form part of the statutory financial statements. Page 19
Exeter Food Bank
Detailed Statement of Financial Activities for the Year Ended 31 October 2021
| Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Investment income (analysed below) Total income Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 243,774 7,440 459 251,673 (13,298) (82,854) (96,152) 155,521 155,521 279,644 435,165 |
Total 2020 £ 178,760 11,940 667 |
|---|---|---|
| 191,367 | ||
| (4,970) (58,799) |
||
| (63,769) | ||
| 127,598 | ||
| 127,598 152,046 |
||
| 279,644 |
This page does not form part of the statutory financial statements. Page 20
Exeter Food Bank
Detailed Statement of Financial Activities for the Year Ended 31 October 2021
| Donations and legacies Donations Other trading activities Fundraising Investment income Bank interest Raising funds Purchases Charitable activities Contract staff Staff and volunteer expenses Rent and service charges Warehouse items Admin expenses Trade subscriptions Charitable donations Sundry expenses Motor expenses Fundrasing Accountancy fees Depreciation of plant and machinery Depreciation of motor vehicles (Profit)/loss on sale of tangible fixed assets held for charity's own use |
Total 2021 £ 243,774 243,774 7,440 7,440 459 459 (13,298) (13,298) (45,312) (287) (14,951) (1,040) (2,849) (583) (4,460) (375) (5,869) (11) (1,208) (260) (6,974) 1,325 (82,854) |
Total 2020 £ 178,760 |
|---|---|---|
| 178,760 | ||
| 11,940 | ||
| 11,940 | ||
| 667 | ||
| 667 | ||
| (4,970) | ||
| (4,970) | ||
| (32,428) (770) (8,240) (4,196) (1,779) (665) (2,500) (875) (4,692) (107) (672) - (1,875) - |
||
| (58,799) |
This page does not form part of the statutory financial statements. Page 21