**174/175 Cowick Street, Exeter, EX4 1AA Telephone: 07818 226524** **Annual Report & Financial Statements for the Year Ended October 31st 2024.** **www.exeterfoodbank.co.uk** _**Restoring dignity, reviving hope**_ **1** **Throughout our report these green boxes are used to share the voices of clients of Exeter Foodbank who have shared their experience with us.** **10,538 3,588 Food Food parcels parcels given out to given out local children 98,800 168 volunteers** **98,800 kilograms of food donated** Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales **A project seeded by Trussell** **2** ## **Contents** |**Contents**|| |---|---| |**1) Letter from our Trustees**|**Page 3**| |**2) Structure, Governance & Management**|**Page 4-5**| |**3) Objectives & Aims**|**Page 6-7**| |**4) Statistics**|**Page 8-9**| |**5) Mains Activities & Achievements in 2023/24**|**Page 9-10**| |**6) Other News**|**Page 11**| |**7) Financial Review**|**Page 12**| |**8) Reference and Administrative Details**|**Page 13**| _“Reading the messages in this book opens up a whole new understanding of the journeys people are on and the gratitude they share for the support offered by the foodbank. I was recently diagnosed with cancer. A billion words have been written about cancer but despite that, nothing prepares you for how much_ _it affects your life. I am unable to continue my business and benefits go only so far. Like many, I was initially apprehensive of coming here; the shame, the stigma, ridicule, the judgement of others._ **The aim of Exeter Foodbank is “to ensure that nobody in our city goes to bed hungry”** **The motto of Exeter Foodbank is “restoring dignity, reviving hope”** **The dream of Exeter Foodbank is “to see a United Kingdom without the need for foodbanks”** _I could not have been proved more wrong any more than I was. Such care and kindness and the empathy._ _My cancer journey is so much easier with such kind people providing such an invaluable service. Thank you, x”_ (Entry in our Visitor’s Book - Oct 4th 2024) Registered Charity no. 1128795 Registered Company no. 6718767 Registered in England & Wales **A project seeded by Trussell** **3** ## **1) Exeter Foodbank - letter from our Trustees** The first Trussell Foodbank opened in UK in 2000. It was very simple project, opened at the home of a couple called Carol and Paddy Henderson. They received a call from a mother in their hometown of Salisbury and decided to do something to help this lady - and then for other people who were struggling to afford food. It must have seemed unthinkable that by 2024 not only would there still be a need for any foodbanks, but that the Trussell network of foodbanks should have increased to almost 1700 venues across the country. Like many foodbanks, Exeter Foodbank opened in response to the financial crisis of 2008. The charity has genuinely hoped to not be needed for as long has it has existed. It was established to serve people while it was essential but the hope was that this would be short term. Sadly, 16 years later we have moved from our home in a local church and have felt the need to rent a venue of our own as the work is busier and more complicated than ever. To wish that there was no need for a foodbank does not fail to recognise all of the good about such an organisation. Foodbanks across the country bring together a vast group of people who believe in a different way and a better world. It brings together staff and volunteer teams who desire to do good in their local community, to share their time and resources and to make a positive impact. When we see all of these people working together it is humbling and inspiring. In Exeter, while we wish that people did not need to depend on donated food, we see the very best of human nature working together to support friends and neighbours in their most vulnerable moments. That is why we have worked so hard with Trussell to ensure that our new venue can be as accessible and can offer as much support to as many people as is possible. And we are delighted to see this support making a difference. At this time Exeter Foodbank is part of a national project called ‘Pathfinder’ which is run by Trussell. A small number of foodbanks across the country are working with Trussell to see how they can best support households who are in need. This learning and experience will then be shared with the wider foodbank network so that each foodbank can be inspired and learn ways to combat local food poverty. Sadly, Pathfinder has come at a time of economic challenges for so many charities, councils and agencies. However, in the middle of all of this - we have still seen a positive difference as people across the city have worked together to support their clients in creative and collaborative ways. We have always known that foodbanks are not the only people trying to make a difference. The last couple of years have really underlined how agencies and charities can all do so much more if we work together. Our Community Hub, staffing structure, partnership with Citizens Advice Exeter and our Financial Inclusion Project _Many thanks to two households in Beacon Lane who_ has been the first part of our Pathfinding journey. We have been very pleased to see how this has developed in _are raising funds for Exeter Foodbank by collecting_ our new venue, how the learnings have impacted the charity and how it has helped people to need foodbank _donations from people who visit their wonderfully_ support less often. We have already passed a lot of our experience on to other foodbanks in the region and have _festive homes. If you pop along to Beacon Lane one_ been able to offer support and knowledge to them. _evening they are fairly easy to find!_ Our story this year is not one of building a larger charity. It is one of building collaboration to ensure that we are working with other groups, charities, churches and organisations to make as much difference as we all can. Every person who no longer needs us is a ‘win’. We know that there is more to do, but our Pathfinder journey so far has set us on a positive course and has seen a real impact made. When a person comes in to Exeter Foodbank, if they choose to work with us and our partners, we will generally be working with an agency in the city that will be able to help them tackle some of the root causes of their time of crisis. For us, the collaborative path has been the better path. As a trustee board, we have been very pleased to see the early impact made by Pathfinder. We have put in place all of the governance and structures to help our staff and volunteers to make as much positive difference in the city as they can. We are grateful to Trussell for their support and passion - and to the people of Exeter who continue to support us and affirm this work. Thank you. **A project seeded by Trussell** **4** **A project seeded by Trussell** ## **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 day-to-day financial management of the food bank, under the close supervision of the treasurer and a second designated trustee. **Employees:** The Foodbank employs six part-time staff; a Strategic Director, an Operations Manager, an Administrator, an Advice Worker, a Store Manager and a Logistics Worker who undertake the day-to-day running of the charity. **Staff Team:** The trustees have delegated the day-to-day running of the charity and operational decisions to the Staff Team. Staff Team meetings take place monthly (generally with a trustee also present); minutes are kept as a formal record of proceedings. **Volunteers:** The Foodbank benefits from the service of almost 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 Trussell, 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 and 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 Statement of Recommended Practice “Accounting and Reporting by Charities” issued in 2005, and with the Companies Act. **5** **A project seeded by Trussell** **GDPR:** Exeter Foodbank takes Data Protection very seriously. We ensure that all of our online and office practice is 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 Trussell. **Quality Assurance:** Trussell carries out reviews of Exeter Food Bank, including in areas of statutory compliance, working practices, volunteer roles, public relations and communications, fundraising, safeguarding and sustainability _“I seriously do not know what I would have done without these guys. I’m so heart warmed at the gratitude these people hold, the lengths they go to make you feel welcome and the coffee is great too. Many thanks.”_ _“My partner and I both work yet still struggle to make ends meet most months. It’s incredibly disheartening when we work so hard, just about cover the bills but are left with nothing to fill the cupboards. The foodbank has meant that we can continue to eat when our cupboards are bare. Always welcomed with a kind smile and instantly made to feel at ease at an emotionally difficult time. We will always be so grateful for all of_ Above: The Exeter Foodbank Store - based in Kennford. Below: The Cranbrook Food Hub. This is based at Cranbrook Education Campus and opens on Thursday evenings. It is run by a team of wonderful, local volunteers. _the staff at the foodbank and everything they do. Thank you so much.”_ **6** **A project seeded by Trussell** ## **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, and 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** Non-perishable food is donated by members of the public from a prescribed list - Food is transported to our warehouse, where it is sorted by date and by type. - Clients in crisis are assessed by one of our authorised referral agencies and are issued with a foodbank voucher. - Clients bring their voucher to one of our food distribution sessions where it is exchanged for nutritionallybalanced food Clients are encouraged to access further sign-posting and support services, as required. **7** **A project seeded by Trussell** ## **3.5 Objectives for the Year** Our objectives for this year are a continuation of work that we have already begun. They are based upon the objectives that we have agreed Trussell as part of The Pathfinder Project. This project is aimed at helping to reduce the need for clients for come to foodbanks by offering alternative resources. These objectives will continue until the end of the Pathfinder Project in 2025: a) Develop Participation b) Develop Referral Pathways c) Develop our Financial Inclusion Project d) Develop volunteer skills and experience e) Develop our Operations ## **3.6 Strategies for Achieving the Objectives** ## **a) Participation** We have increased the input of clients with a lived-experience of food poverty. We are doing this with a variety of methods including surveys, interviews and dialogue with referrers. Ultimately, we hope to bring together a group of people with lived experience so that they can share their stories and utilise their experience to help the foodbank adapt to the needs of its users. We hope that this will enhance both the experience of visiting a foodbank and also the support that is available. ## **b) Referral Pathways** We are working most closely with our largest referral partners across the city to not only understand who is coming to us and why, but also to see how we can create collaborative systems across the city to offer the very best support to clients who are in need – and offer this help at the earliest opportunity ## **c) Financial Inclusion** We have developed collaborative, multi-agency work within our Community Hub. We are now able to offer clients far greater support in areas like Benefits advice, debt advice and employment skills. We will continue to work with agencies who can offer support with general cost of living and cost of utilities. We have entered into a partnership with Citizens Advice, Exeter and currently pay for an advisor to be present at sessions three days each week. This advisor is a specialist in benefits advice and debt. However, at this time most of their work is done on benefit claims and appeals. ## **d) Volunteer skills and experience** Throughout the Pathfinder Project, we aim to continue to develop our volunteers by offering training (in areas like valuable conversations, de-escalation, conversations with vulnerable clients and in areas of signposting). We hope that by being part of Exeter Foodbank that our volunteers are learning new skills, are able to participate in their community more deeply and build friendships. Our aim is that volunteering for us is a fulfilling experience which also bringing positive change to our community. Our _Exeter Foodbank Volunteer Forum_ is comprised of a volunteer Representative from each team at foodbank and enables all volunteers to be able to feed back ideas, comments etc so that their voices can be heard as we continue develop the charity. **8** **A project seeded by Trussell** ## **e) Operations** The significant change that we have seen this year has been opening our new venue in Cowick Street. It had become necessary if we were to work collaboratively, have an accessible service and offer the wraparound support to help clients out of poverty. After much work, we opened our new venue on May 1st 2024 and we did not miss a single session in doing so. During the previous year we had expanded our staff team so we have the capacity to run our store, our venue, our office and our financial inclusion & advice work. During this reporting period we have seen all of this work beginning to bear fruit. While we have the capacity to collect food from almost 20 local supermarkets and distribute over 100 tonnes of food in a year, we can also offer advice work and build collaborative working relationships with agencies, charities, schools, churches and community groups across the city. The battle against poverty is multi-faceted and far from simple. However, our experience this year of developing our operations across three venues with over 150 active referrers has seen people released from poverty and freed from needing to access donated food. There is much work still to do. However, the strategies and direction that we have taken is beginning to see an impact. _“Thank you everybody for your help, support and kindness. You made me feel like a human being again.”_ Left: Emma at the Beacon Distribution Centre. Emma spent a week on Work Experience at Exeter Foodbank. During this time she participated in many aspects of the life of foodbank including collections, sorting, distribution - and she even wrote an article for our website to explain what she had learned about the - charity: https://exeterfoodbank.co.uk/2024/07/22/my work-experience-at-exeter-foodbank/ _“I have fallen on hard times – loss of job, marriage and house. Former addict but luckily not using anymore. Ex forces and being supported by various charities and organisations. Looking forward to the future while building myself back up. Just wanted to say a big thank you to all the staff here at the foodbank. I wish you all well.”_ _“Thank you to the very beautiful good people here. A long story short, I have been working in healthcare for 4+ years and it has been a rollercoaster of being absolutely fine or on the other hand having terrible seizures. This is by far the worst my health has become. Inflation hits harder and if not for the help received here I would be in a very bad position.”_ **9** **A project seeded by Trussell** ## **4) Statistics** All of our data is recorded on the Trussell Data System. We can see how many referrals are made, how many people live in those households, the reason for referral, the number of first time or frequent foodbank users there are etc. All of this data gives us real insight into the situation in the city. Our records show that food was given to 10,538 clients during the year. Of this number, 3,588 were given to local children. While this is a large number of food parcels, there were encouraging signs too. The total number had reduced from 11,778 the previous year. This is a reduction of approximately 10%. While we are still in a cost-of-living crisis we may have expected client numbers to increase. However, much emphasis has been placed on Financial Inclusion work at Exeter Foodbank. By helping households with Benefit issues, Debt, Utility Tariffs and Budgeting etc, we have seen clients needing to access donated food less regularly. This affirms the approach that we have taken and underlines the importance of solid advice work. **A project seeded by Trussell** **1 0** ## **Additional Data** The number of referrals to Exeter Foodbank this year was also reduced as fewer clients needed less donated food. Whereas we received **5697** referrals in 2022/23, this number reduced to **5,201** in the latest period. Our hope has always been that if we could offer appropriate levels of Financial Inclusion support, that clients who engage with us would need less food support. All of our data seems to indicate that this is happening. The frequency of visits per household to Exeter Foodbank also decreased. On average we saw each client **2.47** times this year and this had reduced from **2.68** the previous reporting period. These are small steps for a project that is still developing - but we are very encouraged to see it moving in a positive direction. One troubling statistic that we have seen this year is that clients of ‘no fixed address’ have increased from **275** to **360** ‘households’. This is a significant increase of over 30%. While it may seem like a small number, this means that 360 individuals or families who have come to Exeter Foodbank are either homeless, sofa-surfing, in temporary accommodation or in short-term emergency housing. It underlines the housing crisis that we are currently facing; affordable and secure housing remains one of the key drivers in situations of poverty. The increase in this number is of great concern. In a meeting of our major referrers in February 2023 we asked the question: ‘What would it take to reduce the need for foodbanks in the city?’. The first answer that we heard from every referrer was ‘affordable housing’. The final piece of data in this report is that in this period we saw **953** households who needed to access support from Exeter Foodbank for the very first time. Basically, this means that for every single week of the year we saw 18 families who needed to rely on donated food and had to call a foodbank for help having never needed to do that before. That is a shocking state of affairs for a city like Exeter. “An incredibly stressful and unsafe job broke me and I left. I was very worried about having no income but my situation was certainly helped by the Foodbank and the community support info packet they gave me. Just feeling supported has helped a lot! Thank you!” Right: a page from our Guestbook in our Distribution Centre in Cowick Street **A project seeded by Trussell** **1 1** ## **5. Main Activities & Achievements in 2023/24** The focus of much of our effort during this year was moving to our new venue in Cowick Street while trying to ensure that the service to the clients was uninterrupted. The Mint Methodist Church had been our ‘home’ for approximately 15 years. Exeter Foodbank had a very good relationship with the church and felt very supported by their team. Moving to a new venue did bring many challenges and required changing all of our existing systems. However, the benefits to the clients outweighed the complications and costs of the move. The new venue has allowed us to offer a more holistic service for our clients. We now have all of this in an accessible space which does not involve them needing to find their way around a very large building. We were fortunate to receive two substantial grants to carry out the necessary renovations to the building. This meant that the donations that the public had given towards the general running of the charity were not impacted. Having been handed the keys early in 2024, we opened at Cowick Street on May 1st thanks to the efforts of many people, especially the team at UK Property Service. Our partnership with Citizens Advice Exeter had been one of our main drivers for the move. The new venue allowed not only a space for hospitality and welcome for clients, but also private meeting rooms for advisors to work with clients to discuss issues like Benefit problems or debt. In the first six months in our new home, our own Advice Worker and our CA Advisor worked at length with approximately 100 households. Many of these families will not need to access foodbank again as they have received the correct support to help them to move on from situations of crisis. For other clients, the opportunity of having a cup of coffee and a chat cannot be overlooked. Many people are in situations of serious social isolation and this becomes one of the drivers leading to poverty. Our amazing volunteers offer such a welcome that this becomes a very important part of our work and offers hope and support to very vulnerable people. While raw data and statistics show that our move has been worthwhile, it is often some of this ‘soft’ data that makes the biggest difference to people. Left: Some of our staff, volunteers and team from Citizens Advice Exeter get ready for our first morning at Cowick Street, Exeter. **1 2** **A project seeded by Trussell** ## **3) Other news** - We received amazing support from the local community as a total of 98.8 tonnes of food was donated. This has seen a significant decrease of over 20% from the previous year as the cost of living impacts both our clients and our donors. Fortunately, there has been enough to go around and our shelves have always had food to offer. - Our **#efbchristmasinabag** project saw over 250 donations arrive. We had enough for every client to receive seasonal treats. - At Christmas we were able to give each household vouchers so that they could buy meat for their Christmas Dinners. - We were able to contribute more than 380 Christmas Hampers to Care-experienced young people. We worked in tandem with Devon County Council (DCC) on this project and this relationship continues to develop our relationship with some of the staff involved to ensure that we can offer help to young people in situations of need. - Related to the hampers project, we were able to resource and fund Christmas Dinners across the county in partnership with the Participation Team at DCC. Approximately 125 young people were able to attend. - 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. - We held two CAP (Christians Against Poverty) Money Courses. These are designed to help households deal with issue like debt and budgeting. - We began trialling an evening session in Cowick Street as many foodbank clients are from working households and we are currently assessing whether it is more accessible for them to come out of traditional working hours. - Following on from some art, craft and basic woodwork sessions at our old venue, we held a ‘Sewing Bank’ with a local group called ‘Our Exeter CIC’. While we primarily work on food poverty we have become increasingly concerned at how many of our clients are also in ‘social poverty’ and we are looking at ways of helping them to make friends or find social connections. - Upon moving to our new venue we hosted a ‘Meet the Neighbours’ event so that people from the local community could come in to meet the team and ask any questions that they may have. We followed up this successful event with a coffee morning for local city councillors. This was also a very positive meeting. Finally, we have been asked by Trussell to be involved in their winter fundraising appeal this coming year. This is very affirming as it recognises the holistic nature of the work taking place at Exeter Foodbank. Trussell wish to use this nationally as an example of how a foodbank can support people to work through their times of emergency and crisis if they have the correct help and support. **1 3** **A project seeded by Trussell** ## **7) 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: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - 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 31st 2023 Left: our Strategic Director, Mark, leading a Harvest Assembly at a local Primary School. C4Mnpany regislration number. 06718767 Charity registration tsumber.. 1128795 Exeter Food Bank (A ¢ompany limited by guar•iiee) forthe Year Endg3 31 Cktober 2024 4AE62JrxJ" OW0712025 COMPANIES ￿[￿sE S￿pk￿ftS 4 Mark¢1 Str¢d Crediion Devo EX172AJ Exeter F<)od BAllk Contents R¢f¢ren¢e 8ttd Administrative Dethils Trystr¢s' Re￿rt Stat¢m¢nt of Tru5¢¢¢5' R¢swwl)ilili¢s Sthtemeftt of Financial Activities 5t06 Bala￿¢ Sh¢¢t Notes to th¢ Financial Ststements 8￿19 Exeter Food Bank Reference and Administrntive Detai15 Trws¢e MrGWHunt Mr S Davis Mr Rjudd M5 R FowkT Mr l A M Roberfson Mr G Flint MS S H0rnblo￿r Seertt*ry Mr Rjudd Chlrfty Registration Number 1128795 CoThp•ny R¢gIstr*￿￿O Nwmber IN5718767 The chty 15 inryaled ID ETr81￿d Wales. Reetsltred Offlee 174- 175 Cowick Stttet Excttr EX4 IAA PriThd￿l oniee 174- 175 Cowi¢k Stre Exeter Devon EX4 IAA lady*nt Ex*miner St8pl¢wns Chwtete4 Certtfied A¢countsnts 4 Market Stsret Devon EX172AJ Exeter Fl￿￿ Bank The trust¢¢s, who we dirKtors for the puryw of (¥)mpany law. wgs¢m the annuaE rem tO8¢ther with th¢ fmanc1￿ Matrments of the charitsbk c4)mpany for theyear ended 31 (k￿be￿2024. Obj¢dives and #diviti PublicbeneJ71 Ex¢ter F￿d Bank provides short ¢¢rni f￿d supplirs kn hxal people in crisis r¢fured to us by a numb¢r or agencies and charities. Th¢ truttes c4)nfm they have c4)mplied with the requirements of Section 17 of the Charitie5 A¢t 2011 to have due regard ￿ the publi¢ betsefit guidan¢c wblished by thc Charity Commission forF￿gland and Wales. StruetWrn* govern*•ee *#d FinAD¢1￿ instrnmeDI• O&jedi%Ys oMdpoliaeF The ¢harity's activilies exp)se li ￿ # number of iisks ineluding LYtdTt risL eash ftlow risk and liquidity risk. The use of financial derivatives is governed by the charity's rA)licies approved by the IM)ard of tr￿Stee4 which provide written priticiples ¢)n the ￿ of financial da]v￿1ve5 to manage these risk& The charity does not use derivative finaDcia] instn￿ents for 5￿CulatIve purww. The charity's principal fjtwiciai wets b￿anCeS and Ash. tTrd¢ and other r¢¢¢ivabl¢s. inv¢stsn¢nts. The chzrity's credit risk is prirnarily attrib¥tabk to its trade rtt¢ivables. Th¢ amounts pr¢s¢n¢ed in the b￿ance she¢t w¢ n¢t of ￿lOWanCeS for doubtfvl ￿tIVable% AD allowance for inw8im)en¢ is made where the￿ is an ideTrtifie4J loss ev¢n¢ wbich. bas&1 on pmious experienK is evidence of a r)Ju¢tioft in the reo)va¥bility of the cash tlows. Th¢ ¢redit risk on liquid funds and deriv*iv¢ firAancial irtstrumeThts is lirnityj be￿￿¢ the counierparties are banks with high Credit-￿InEs &ssigMI by TrrtWm*ional crtdit-ntitig 88en¢ies. The charity has no Si￿1￿¢*nI concenti*ion of credit ri5L with eX[￿SUrE 4¥fEad 0¥￿ a large nutnber of countuparties and customer5. The annual rel￿ was apprnved by the trusttts ofthe charity on 12 2025 aThJ $i￿ed on its behalf by: MrGWHunt Truste¢ Page 2 Exeter FWJ Ba•k Ststsment of TThste¢8' Responsibiliti The t￿j￿te$ (WTr￿ ar¢ ajso the dirt¢￿r9 of Exeter F¢xxl for the purpostt of c4)mpany law) are r¢S￿nSible for prep8rin8 th¢ truste¢5' reprt 8Th1 the ststernents in lccordanez with 8ppli¢able law and United Kin8dom Accountin8 Standards Iunitoj Kin8th>m &ner¥]ly Accepted A¢counting Prn¢tic¢). includirtg FRS 102 Y1]¢ Fin8n¢iai Re￿Yt1Tr8 Standard applicable in the UK and Republic of Ireland". Company law requÈres the trustees k) wepare financial Staten￿ for tach fin￿cial year. Under Lxmnpany law the trustees must Iiot approve the financi￿ sthtements urtless they Ire satisfied they give a true and fair view of the State of affair5 of the charitable c4)rnpaDy and of thB inLX)rning re￿u￿ and application of rew￿r￿ in¢luding its incom¢ and ¢xp¢nditiw¢. of the thuitabk company for that period. In pr¢portng these financi Statemen￿ the ar¢ vequtT¢d ty". stlect Suitable #c￿ll￿tIng ￿lie1C$ and apply them LyJttsi*ntly" observe th¢ methods and prin¢ipks in the CIMriti¢s SORP. make jud8ements and estinJa*s that are tEa%)thle *KI slate whether ¥ppli¢abl¢ aco)witittg stsDda￿ WmPTising FRS 102 have be￿ followed. subje¢t to arty t)Merial depathwes dis¢los¢d and explain¢d in the finawial slaiemeats. aod prepare the financial statements on the going Ly)ncem basis unless it is inaPpTo￿ to pRsume that the charitable CA)mpany will c4)ntinuc in busine55. The tNstees ar¢ rwnsible for k¢rying pyoper xcouniing I￿ordS Can disclose with reasonable a￿￿Ta¢y at any tirne th¢ f￿aDcial ￿SItiOn of the dwitsble 9)mp?￿Y and enable them w ensure that the finan¢*￿ stat¢m¢nts C4)mply with the Companies Ath 2CQ6. They we also resN)ngibk for safeguarding the assets of the ¢haritsble pany and hence for tsking ffth)nthle strps for tr ￿e￿10ft aDd d¢￿tion of fraud and other irregularities. The trustees are resy>Dsible for the rna]nte￿￿ aDd intem of th¢ wrpjrate 8Dd finan¢i81 inforniatio included on the chzritsble u)rnpany's website. tX8islatiOn 8overnin8 the preparation and dissemination of fina￿141 slat¢m¢nts Thay diff¢r from legislation in other jwksdicliorffj. Approved by th¢ In￿e￿of th¢ tharity on 12 Jun¢ 2025 and OD tts ￿balf by.. MrGWHunt T￿slee Exeter Food Bank Independent E￿nIDer'S Report to the trusttts of ￿eter FIM)d Bank Cthe Company,) We report to the trust¢¢s on rny ¢XaMiD•i(￿ of the xwunts of the Company for the year ended 31 Octob¢r 2024. Responsibilities b*siJ ofreport A5 th¢ tharity's tnjsiees of the Company (wd 8]so its dirtctOTS for the puryx)s¢s of company law) yoy are responsible for the preparnttort of the *XOUDts in *ci¥)rknry with th¢ r¢qyir¢metsts of the Companies Act 2(#)6 ('the 2006 Act,). Having s*Èsfi¢d oyrs¢lv¢5 that th¢ accounts of the Company are noi requiTed to bt audited under Part 16 of th¢ 2006 Act and are eligible for intrrtdent examintition. we rewrt in respect of our txamirL•tton of your chwity's accounts &8 wri¢d out wNkr sKtion 145 of the Charities Ad 2011 ('the 2011 Act,). In canyin8 Out our ¢KomiDation w¢ have ftlllowed the dirtUion$ given by the Charity cornm1551￿ und¢r s¢¢tion 145(5Xb) of the 2011 Ath. Independent ex#miDer's si*lethettt Sin¢¢ the Company's gross inc￿￿¢ exceeded £250,OIY) yourexaminer mus¢ be a member of a knly listrd in stttion 145 of the 2011 Act. . We confjm that W¢ ￿ qU81ifi¢d to undertake the examination brt&use we are a member of Ass(xiatiOD of Chartered Certified A¢coun¢aftts, which 1$ one of the li￿ bLMlies. W¢ hav¢ ¢ompie¢¢d my examin*ion. W¢ ¢oDfwm that no madtsys have corne to rny attention IA Q)nAection with the exaMi￿10N giving me causc to tdi . accounting records were not k¢pt in respect of Exew Fcd Bank as Ttquirtd by section 386 of the 2006 Art; or 2. the %counts th) a¢cord with those r#￿dI. or 3. the accounts do Dot cotnply with the ¥wuDtin8 T¢quir¢m¢nts of se￿10n 396 of the 2006 Act other than any requirement that the accounts giv¢ a'tru¢ aDd fwr Vic￿ which is a matter ¢onsider&l as pth of an independent examiD*ioD' 4. the x¢ounis have not been wepared in ac&Ydance with th¢ m¢thods and principles of th¢ Sw¢meni of Recommended Pr￿]¢¢ ftir XCA)uDtin8 and rep)rtiD8 by charities lapplicabl¢ to charities preparing th¢ir ¢ouots in o¢¢ordan¢e with the Financial Re&￿tin8 Standard appIl￿b￿ in th¢ UK and R¢publi¢ of Ireland (FRS 102)]. We have no ¢on¢erns and Iwe ￿me xrnss M) IAher th*tteTs in ￿nneCtIOn with the examinattoth to which att¢ntion should be drawn in this report in ordtrto cnable a properunderthdin8 of the accounts to b¢ reach¢d. Sthpktons Chartered C¢nifi¢d A¢￿vD￿lIS 4 Market Str¢¢t Crediton Devon EX17 2AJ 12 June 2025 Page 4 E￿r F(￿d BAnk ststement of Fi￿ne1a1 Activities for Ib¢ Year Ended 31 Oetober 2024 Dcluding Incom¢ *nd Expenditsre Ac¢ount gnd Ststement of Total Reeognised Ggins and Losses) U•r¢strieted To¢*1 2024 IJKome aad Endowments frow: Donations and legacie5 Charitable activithes her trading activKlies Ittvestment ineome 147,836 421 14.051 199.618 347.454 421 14.051 Totsl ift¢om¢ 365 815 Expendlture 00: Raising fimds Charitable activitie5 Transfer betsyeen fuThJs (48,7771 (178260) 127.630 {375) (38.193) (127.630) (49,152) (216.453) Totsl expendtrture 265 605 Net In￿Me loo 10 Net movement in fvttds 66.79) 33,420 100210 Totsl fwids brought fon¥aTd 375 476 420 Totsl fimds ¢afria fonvord 19 542 835 576 630 2￿3 Note Ineomt and E￿d0￿meots fro•b: Donation5 and le8acie5 Other tr*lin8 &tivities Investhieni inc4)me 209.975 ii.or2 519 850 210,825 11.082 Total incom¢ 850 224 426 Expendlture IM: Raisin8 funds Charitsble activitie5 (44.515) (5.731) (50.246) 137366 Total exp¢nditJlle 181881 187612 Net incorneJ(¢XPEnditur¢) Net movem¢nt in funds 41.695 {4.88l) 36.814 Reco￿£111%110Tr of funds Tot81 bTousht fopward 434 50 439 606 Toth] bjnds ￿rIed fonvard 19 375 476 420 The notes on page5 8 to 19 foTm an integrd wt of these fmaDCtai strthnents. Page 5 Exeter Food Bank Ststemeot of Financial A¢tivities for tke Y¢ar Ended 31 October 2024 (Including Income and Eipemditure Account and Statement of Total Rttognlsed Galns and LA)sses) All of the charity's *ivitie5derive fr(xn wntinuiDg 0pmti0￿ dtwing the alw¢ two The ttotes on pagcs 8 to 19 fonn an Integr￿ prt of these fiDanrial Statements. Page 6 Exeter F(#￿1 Bank (Registr2tiOD number. 06718767) Balanee Sheet as at 31 October 2024 21)24 2023 Notr Fixed assets Tangible &5sets 15 114.567 5,356 Current *ssets Debtors Cash at bank and in hand 16 43,097 419828 462,925 33.965 437 882 471.847 J7 Credllors: Amounts f*llillg due olleyur 18 783 Net furreut assets Net 8SStts 576 630 476 420 Funds of the th*rity: Re4tricted imeollEe fllllds Restricted filnds 19 33.795 375 Unrestri¢t¢d In•)m¢ 542 835 Total fuDds 19 576 630 476 420 For the finan¢ial year ending 31 October 2024 th¢ ¢harity ¢rfitled to exemption frotD a￿lIt under seGtion 477 of the Companies Act 21J06 T¢lwing w small companie& DIr￿￿ts. rewnsibilities: The members have Mt wuired the ¢hvity to ot44ia ￿ *Mlit of its accowits for the year ID question in arKonlatKe With Section 476. and The directors ¥kTh)wledge thtiT resprrf157bilttits for cornplyin8 with the rtquirernents of the Act with respect to a￿untI￿g te¢ords and the preparation of accounts. The financial 5tst¢M¢I￿ otL pages 5 w 19 Iveze aPp0v￿ by the thtstee& and 8uthori*J for issue on 12 June 2025 and Signed on their behalf by.. MrGWHunt Trustee Page 7 Eieter Fl￿ Bank Notes to Ihe FingDci*l St*teme•ts for the Year Ettded 31 O¢tob¢r 2024 I Charity status The charity 1$ limit¢d by guar8nte< itiu)rpxated in Ell8￿d #nd Wdes. LX)ns4uenty does have $hare itsl. Fa¢h of th¢ InLSt¢¢5 is li•bl¢ to ¢¢)Dthut¢ an anKyunt Tr)t ￿¢¢¢dIng £10 towarfs th¢ assets of th¢ Charity in the eveni of liqutdation. The addr¢5s of its Te8i5tered offiee is: 174- 175 Cowick Street Ex¢t¢r Devon EX4 IAA Th¢ principal place of busintss is: 174- 175 Cowi¢k Str¢¢t Exeter Devon EX4 IAA These fin￿¢la1 stathents were *thi5ed for by th¢ trustees on 12 Jun¢ 2025. 2 AccouDtiDg plitits Summary of significant Ac¢ountillg poli¢i¢s *Dd key •ccouDtiug estiThAtrs Th¢ principal a¢¢otwting FKJli¢ies appli¢d the pr¢par*ion of these financial stst¢m¢nts are set out below. These policies have been Consistently applied the yeaTS PTK¢ftirf unl¢ss otheTWiS¢ Sta* ststement of comp￿￿¢¢ The financtal statemeTEts have been prrpred in a¢tothce with A¢o)unting and Reponing by Chariiies: Ststement of Recommended Prllctice {applithle to clwities prE￿[ing their x(¥)unts ID a¢(￿da￿r£ with the FrnancTal Reporting Standard applithle ttt the UK and Rryublic of IrEland (FRS 102)) (i55ued in October 2019) - (Charities SORP IFRS 1021), the F]naD¢1￿ R¢pytin8 Stsndard applicable in the UK Republic of Ireland (FRS 102) •nd th¢ Compani¢5 Ad 2(K)6. Basis of prep*r•tio Exeter Food Baok m¢ets the definilion of a publi¢ ben¢fit •ltity yAd¢t FRS 102. Assets and liabilities are initially recO￿ls¢4 ￿ hIs￿l¢al cost or tiansx%th value unlts¥ 1)ther￿ Sth*4J in the ttl¢vaot a¢couAtin8 The truste¢s consider that there aJ¢ no m¥tsrial abo￿ th¢ ¢hwyty3 ability to wntinu¢ ¥s ¥ goin8 conc¢rn Th)r any signifi￿( arw of unctt*inty that aff¢a the carying value of assets held by th¢ chaTity. Ex¢wp¢loD fTMI pre￿1¥￿% 4 ¢ash Ilow stst¢m¢wt The charity opttd to earty Bullctin I published on 2 February 2016 and have therefoTe Mi included a cash tIow Siaternent in the5t financial sthtements. Pa8¢ 8 Eiet¢r F(ANJ Bank Notes to the Finanei￿ Statements for the Year Ended 31 Ortober 2024 Imeorne and All in¢¢)m¢ is recognised onc¢ th¢ charity has entidernent to th¢ income. it is probabk that the income will be T￿e1Ved and the amountof the income receivabk be rneasured reliably. Donitslons 4Rdleg tkTrnations are reco8nised when the chrity be£n nottfid in wriling of txjth th¢ amount and settlement In the event a donation is subj¢a to conditions that require a level of perfom)att¢e by the charity before the charity is entitled ￿ the the it)come Rs deferred noi reewised U￿11 eithEr those conditions are fully mei. or the fulfilment of those wnditions is VA￿lty within the control of the dwity it is probabl¢ thai th¢se ndition$ will be fulfilled in the re￿ting wio Invaa*entlpKome Dividends ar¢ Tewis¢d ooc¢ th¢ diVid￿d has been dK]aMI and notification been ￿1ved of the dividend due. Expenditsyt All expendlture is reeoplised once thwe is a legal or cotLStruaive obli8ation to that exp¢nditur4 il is probable 5ettlemeTht is requird and the •nowii ¢an b¢ m¢asur¥d T¢ltably. All C4)sts are allocatrd to the appIl￿b]e expeThditure h¢adhn8 that aggffg*¢ similar to th* ¢*gory. Where CA)sts cannot be di1￿y anributed to particular headings they have be¢n ajlwatrd on a basis cofisiMent with the use of resourc¢4 wtth central staff costs ￿loCat￿ on th¢ basis of tirne spenk and deprKiabon charges all0￿*d on the porrion of the asset's us Othv support Costs we allocated based on the spre￿1 of stsff k))$ These are costs in¢urrtyJ in allrading volunw irtC4)th< the thatta8erneJrt of investments and those incurred in trading activities that rai￿ fiutds. Govern•nee eosts These include the COSLS attribwtyble io th¢ charity's o)mplian¢e with cOnsti￿li0￿aj aDd sthtuw requimnent in¢luding audiL str*¢gi¢ managemeni and trustres meetings and reimbursed expenses. T*xation The charity is eon5Ldered to p&%s the tests srt in Paragraph I Schedule 6 of the Finance Act 2010 and the￿for¢ it m¢¢ts th¢ d¢fJnition of a ¢hari7abl¢ ¢ompany for IJK CorN)r8t￿)n tsx purpos¢s. A¢¢ordingly. the Ihwity is pot¢ntidly ¢%empt from tawion in of inwme or capithl g4ins re¢¢Tved within c8tegorie$ covered by Chapt¢r 3 Pan l l of th¢ Cory￿ratIOn A¢t ZOIO or Seuion 256 of the TaxatiOD of Charg¢able Gains Act 1992. to the exknt that such income orgaitts 4yplieAI ex¢lusi¥eSy #) charitsbk purp￿$. TaDglble fixed •ssets Individual fixed assets costiD8 £250.￿ or more are initialty re¢orded at crt 1¢5s any subsequen¢ a¢cumulated depreciation and subwuent %mula*d impairnent1055¢k Page 9 EJeter Bank Y40tss to the Fina•¢ial Statments for the Year Ended 31 October 2024 D4)re£iAtiOD aod *mt)rtls*tloD D¢pre¢iation is provided on tsngible fixed &wts 50 85 to WTit¢ off th¢ r£Jst w valuation. 1¢5s any estimated residual value. ov¢r th¢ir exP￿ted fX4)norni¢ life 85 follows: Asset d Motor vehicles Plant and ma¢hinuy Leasehold improvements IY¢prrfia¢ioo Th¢thod *thd r*te 25Yts Straight line b&sis 25% $￿ISht line basi5 IO% strai8ht line basis Tradé debt•rs Trade debtr￿S are arnouDts due from ¢ustom¢ts for merchandise sold or scrYict5 wfoTmed in the ordinary cours¢ of busitt¢ss. Trade dcbtor5 are Rcogni5ed initially at the traDsxtw pri¢¢. Th¢y are $ybs¢q¥ently at amortised cost using ihc effective interest rnethod. le55 provision for impainll¢nL A provision for th¢ impaimieni of trade debts)rs is c5tabli5hed when there is objective evidenc¢ th¢ ¢harity will not b¢ able lo ￿11¢¢¢ all amounts due a¢cording to the original tenns of th¢ rwxiv8bl¢s. C&sh 2nd cth equivalents comprise on hand and (all de￿$11* and other slfftt-terni highly liquid inv¢5trnents ihat are readily o)nv¢rtible to a known *m¥Mttt of ¢&sh and tre subjeet to an insignificant risk of Change in value. Borrowlny tnterest.be8ring boFrDwiDg5 art initialty ￿¢l￿ded at fair value. net of traDsa¢tion wst& In¢¢rest.b¢aTing bortowinss ar¢ subsequently carried at amorti5ed with the difference between the pro¢¢eds. n¢t of transaction ¢ost& and the arnount due ¢m rpjemption beiD8 rwi5ed ￿ a cbarg¢ to the Ststem¢nt of Financial A¢trvili¢s overthe WILKI of the rElev8nt borrowiD& Interest expens¢ 15 r¢o)gDis¢d on the t45is of th¢ effective intrrest method and is Incl￿ in imuest pftyable attd simklar char¥¢s. Borrowings are classified as currmi liabilities unless the bas unconditional rightto defer sett]ement of the liability for at least ￿￿1ve months after th¢ rewting d*e. PaBe io Eieter F￿d B*Dk Notes lo the Fim#Deial Ststements for lh¢ Year E•de4131 October 2024 Fi>reign exdk*oge Transactions in forei8n currencies are recorded at the rate of ¢x¢hang¢ at the da* of the transaaion. Monetary assets and liabiliti¢s d¢nominated in foveign C4rm￿¢S at the balance sheet d** are T¢￿rt￿ #t the rnt¢s of exchang¢ prevailing at d8t¢. The results of overseas oF¢Mions are tsaTL%18red at the #vuag¢ rat¢s of ¢xdwg¢ during the period and their balance Sheets at the Tate5 ruling at th¢ ba]aD¢¢ sh¢¢t d¥t¢. Excthange differenc￿ arising on translation of the opening net assets and results of overseas operations are Ttp)rted in other tx>rnprthensivt income and a¢cumul•tsd in eqyity (attributed w non4ontrolling interests as aPPTopriate). (Jh¢r exchange differences are re¢ognisrd in thc Statemcnt of Fmancial Activiti¢s the period in which they arise except for.. l) exchan8e difference5 on into kn hedge ¢atsiJ) forei8n CWTUCY li5ks (see above)" . 2) exchange diff¢retKes arising on gains or ]055e5 OD items which aT¢ recognised in other npreheDsiv¢ income. and 3) in ihe case of the ¢¢x￿lI￿altsJ financial 5tatementy ex¢F￿nge diffemi¢es on rnoA¢tary items receivabl¢ from or payable to a forei￿ operdtion for which settlement is neither plarffled r￿r likely ￿ oc¢ur (therefore forming part of tht net investment in the for¢ign oper*ion), which are rt¢ogni5ed in othcr comprehensive incornt and reported underequity. Unre5trÈcted inwm¢ fi￿d$ a￿ gen￿al funds that are available for use at the tru5te¢s discretion in firtherance of the ObJe￿IVeS of th¢ charity. Restricted income funds are those doDatyJ for use ID a wtiodar area or for sp¢cifi¢ purp)s4 thc use of which Is restricted to that area or pwExise. FinaAci*l instntmeots Cl45sificu¢ioH Financial &ss¢ts and fina￿la1 liabilities *e re¢ognised whEn the th¥ity bewrn￿ a party to the L¥Jntractua] provisions of the ins¢rumenL FinaD¢ial liabilities equity in5tntrnents are classified xcording to the sub5tan¢¢ of the Cont￿￿¢81 arrangement5 entered into. An equity iDstnim¢Dt i$ any ¢ontr¥t that evidroces a residual in*rest it) the assets of the ¢h&rity after dedudin8 all of its liabiliti¢& Po8¢ 11 Esetsr F￿￿1 Bank Notes to the FiDa•¢iil Stgtsments for the Year Eoded 31 October 2024 All fin8ncia] &5sets and liabililies ere initialty me&sured at transaction price {including trans&tion costs), txeept ftir those fuwJcia] assets eltssified as at fair value through profil or loss. which are initially rne￿red at fair value (which is normally the trdnsactron wice exclydiAg Itansaction k))stsk unless the arrangement ￿￿ts￿leS financin8 tYansa¢tion. If an arTan8emeni *￿￿$tItu￿ a financillg transa¢tson, the fmwLcia] asset OT financial Itability is measured * the present value of the futurr pthyments di5WUllted at a market rate of interest for sirnijardebt insiri Finan¢ial assets and Ih4bilitie5 art onty offset in the slalement of finaD¢ial position Wh￿ and only wh¢D th¢T¢ exists a I￿lY enfor¢£able ri8ht to Set off th¢ rewis¢d amounts and the charity intrnds either to settle on a n¢t basis or to reali5¢ the asset and settl¢ th¢ liability Simu1tsn￿￿s]y. Finan¢ial ass¢ts are del￿0￿1$¢4 wh¢ft only ￿t￿rt a) the contracts￿1 ri8hts to the flows from the financial assei expl￿ or are settle4 b) the chty tr¥R5fas to another party substsnti¥lly ajl of the risks and rewards of ownership of the financi81 asseL or c) the eharity. despite havin8 relained sorne. but not a]1. signifiC￿t risks and rewards of ownership. hts transferred o)ntroI of the to a￿ther party. Finattciai liabilities tre dertwised only when the obli8ati0li SPEcified in the Umrtract is dischrf canttlled or expires. Pa8e 12 Exeter F(x•d Bank Note5 to the FinaD¢ial Statem¢Dts for the Year EDded 31 October 2024 Dthlnstr4n￿1ts Debt instruments which meet the following Conditio￿ tre Subs4ue￿dY mtssurtd at amortised using the effective int¢r¢st meth(￿. (a) The ¢OntrnctU￿ renm kn th¢ holder is (i) • fixed (li) a posiiive fixa rate or a positi￿ variable rate. or {iii) a ¢4Jmbination of a Kw)sÉtive or 8 rtewive fix￿ ratc and a wjsitive variable rate. (b) The ¢¥Jntrxt rnay provide for rePay7￿￿ts of the wincip81 or the rEturn to the holts (but not i¥)th} to be linked to a sin8le relevant observable index of 8eneTal price Infi￿70n of th¢ curr¢ncy Trn which tb¢ debt in$trum¢nt is d¢nomiDat¢4 provided swh links are not leverJ8ed. (c) The may provide for a dtterniinable variatioft of the return to the holder duritig the life of the instrument, provided (i) the new rtte satisfies condition (8) attd the v8riation is not contiAgent on future events Other than (l) 8 change of * vaTiable rare" (2) to prott£t the holder awdinsi credit deterioration of the issuer" (3) chaDgcs in levies applied by a ￿nI￿] bank or arising £ban8es ID ￿levant taxation or law.. or (Li) the new rate is a mwrket Tate of interest aThl 5ati5fies condition (a). (d) Th¢r¢ is no rJ)DtraCtt￿ provision that wul¢L by its r¢sult in th¢ Ixyld¢r losing th¢ prirKipo18rn0unt or any inw¢st *tributsbl¢ to th¢ ¢um¢ orpriorpuir¥J& (¢) Contra¢ttthJ provisions pennit the issyer to rn a debt tnstrum￿l or pernit the hr>ld¢r to put it 1￿ck to the issutt before Ma￿11ry are not ¢ontin8ent on futswe events, than to iyote¢t th¢ holder against the Credit d¢*rioration of the issuu or a ¢hange in o)ntrol of the issuer, or ￿ Pft)￿t the holder or issu¢r against ¢han8¢S in kvies applied by a central b*Jk orarisitig ¢h*8es in fflev￿1 or law. (fj ContrnGtsal provisions pe￿It the extCn5ion of the trrni of the ddA inStrurnenL prov1d￿ that th¢ r¢tum lo the holder and aDy other CODtraLthMI provi5MTh •ppliEabk during the extended tum sat55fy thE conditions of para8fdphs (a) to (c). Debt instruments that 2Te classified as payable or re￿1vable within on¢ ye•r on inilial retO¥DitiOn which meet th¢ above conditions are measured * the undixounted amown of th¢ or oth¢T wpsideration ¢xtEcted to be paid or rK¢ivrf n¢t of impim¢nL With the ¢xcepuoD of som¢ hedging Instrum￿ty debt instrummts not meeting thes¢ a)nditi¢)ns ar¢ mwured at fair value thnugh profit or loss. Commitments to rn8ke and reeeive lo•tss whieh meos the o)nditions Me￿10￿￿ th)ve are me&sured (whtch rnay be nil) less impainnent. Inve$1rnents in Doll-convertible pr¢f¢rn￿ shwes and noD.wtyabl¢ rydinary or prefereDte 5bare5 (where sharts are publi¢ly or their fair walue is reliably m¢8swobl¢) are measured * fair value thro1￿ profit or 105$. Wljere fair value ￿nn0t ￿ rne4su￿d r¢liably. inve5tsnents ar¢ me&sur¢d at ￿$t I¢s5 1rnpa1rn￿L Invesknents in subsidiaries and asso¢i*es meagjred 1¢ o)st less impalm￿L For investments in subsidiaries a¢qtsired for fA)n5ideration including the issue of sharts qualifying for rnttger relief. Cost is measured by rcferenc¢ to the wioal value of the share5 issued plus fair value of considerati(m. Any premium is I￿Ored. Page 13 EI¢ter F(x)d Bank Notes to the Financial Sl*t¢ments for the Year EDde4131 October 2024 DerivolivefiRandal1nslrnn￿ts The Charity uses derivative fin￿CIat in5trum¢nts ￿ reduc¢ exposure w foreign exchange risk and intrrest Tate movements. The charity skns not IK>ld or issu¢ derivative fin￿la1 instnjments for S￿Ul*l]Ve PUTposes. Derivatives are initially rKognis&l at fair value *t the date a dgrivative contrart is entered In￿ and subs¢qu¢nily remeasurtd to their fair value at each re￿iting date. Th¢ resuhing gain OT Ioss TS reu)gnLsed in stsiement of fiD8ncial activitits immediately UDless the derivative ts deS[￿La￿d and effeLXive 4s a hedging rnstrumenL in which event the timtng of the r¢cogniiioft to ststcmtht of finAnci41 activities depends on the naiurE of th¢ hAl8¢ r¢lationship. Th¢ best evidence of fAir value is a quoted price for an identi￿1 &￿t in an xtive markeL When quo*d prtces are unavailable. the price of a recent transxtion foT an id¢m1￿1 assd provides evidcntt of fair value &% lon8 8$ there h&$ not been a si8nificant change in e¢onomi¢ ¢ir¢umsthncts OT a significant lapse of time since the xrtsaction took plaLY. If tbe marka is athive 8t¥J rKeftt tr&nsthpn5 of an identi￿1 &%set OR thetr 0￿1 are not a 8(M)d estirnate of fair value. the fair va]ue is estima*d by usin8 4 valu*ion technique. 3 Ibeome froth dott*tion$ *nd legAei Dds GeD¢r•l Totsl fvnds rA)nations and l¢gxies' tknation5 from individuals 147 836 Totsl for 2024 147 836 347 454 Tot*1 for 21123 850 210825 4 ltteome frtsm ch•rit•ble #divif6¢s ds Geoer*l 421 421 Totsl for 2024 421 421 Pa8¢ 14 Exeter F(K•d Baok Not¢s to the Fin4neial Statements for the Year Ended 31 October 2024 5 ltstome from other trading *thit U•r¢stric¢ed fvnds T•)¢•l Events incom¢. Other events incorne Totsl for 2024 To¢#1 for 21)23 6 Ipwes¢ment in¢om¢ Uor¢$trlrt￿1 f¥thds Ge#er*l Totsl Interest receivable and similar income" Total ft)r 2024 Tot*1 for 2•23 19 7 Expendit¥Yt oll rni¥i•gfv*ds Costs oltr*dlnE *etlvlti fwnds Gener*1 Total fund5 funds P4ote Costs of goods sold 375 Totsl for 2•24 375 Total for 2023 44JlS S731 S(J246 Pa8e 15 Exetsr F￿d Ba•k Noteg to the FinaDeial Stat¢ments for the Year Ended 31 Iktober 2024 8 Exp¢nditsr¢ ch*ritAble #divi Unr¢s¢ri¢ted fund8 Totsl ZlJ24 Tot*1 21)23 ds Notr 178 216 453 137 66 fuD(b Restricted funds TTrtsl funds Note 216453 Totsl for 2023 137 366 9 An•lysis of8overnM¢¢ aod supp•rt tosts Govern*n¢t ¢osts ds Gthernl Total 2024 d5 Staff costs 77235 38.1￿j 115.428 Audit fees (Jh¢r f¢¢s paid to audilvrs L¢gal fees Depreciaiion. 8mortiS8tion Lxhersimilarojsts 1.125 4.536 18,119 77.245 127 630 1,125 4,536 18.119 77245 T[￿Sfer between filnds 127630 216453 Umre5tricted Totsl 2023 Generxl Staff costs 77J8 77.298 Audit ftes Other fees paid to auditOT5 L¢gal fees DepreciatiorL amorti￿l0n other similar wsts Other govenwiee eosts 1.098 5236 3.484 5236 3.484 50 137366 Page 16 Exeter Food Bank Notes to the Financi41 Staternents for the Year Ended 31 October 2024 Net incomin8 resour￿S for the year inclkmk: 2023 D¢pre¢iation of fix¢d assets 11 Trnsttts r¢mullerntion •Dd ¢xpeDy No trustee4 nor any persons £4)nn￿ with th￿ have re£eived any r¢munertion frorn the charity dwiTtg the 12 Stsff costs The aggrrgate payroll C￿sts wtte as folh)ws: 21n4 2023 Slaff fosts durillt the ytar were: Other 5tsff costs 115428 The monthly avera8e numbtt of persons (includift8 senior management l iead¢rship tearn) ¢rnployed by the Charity duringthcyear eXPre￿d as fidl time equivalents was as follows". 21124 2023 No Employee numb*s No ethploye¢ rE¢