Company Number: 07012686 Charity number: 1136234
BEYOND FOOD FOUNDATION (A Registered Charity)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
BEYOND FOOD FOUNDATION
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
| MESSAGE FROM CEO | 1 |
|---|---|
| REFERENCE AND ADMINISTRATIVE DETAILS | 2 |
| TRUSTEES’ REPORT INCLUDING STATEMENT OF DIRECTORS’ | 3-9 |
| RESPONSIBILITIES | |
| STATEMENT OF FINANCIAL ACTIVITIES | 10 |
| BALANCE SHEET | 11 |
| CASH FLOW STATEMENT | 12 |
| NOTES TO FINANCIAL STATEMENTS | 13-20 |
| INDEPENDENT EXAMINERS REPORT | 21 |
BEYOND FOOD FOUNDATION
MESSAGE FROM THE CEO
As we reflect on the year 2023-2024, I am filled with immense pride for the achievements we have made together at the Beyond Food Foundation. This journey has not only been sustaining but also transformative for the many individuals we serve. It is with a deep sense of purpose that I share our story of resilience, compassion, and vision for the future.
Having witnessed first-hand the struggles of individuals becoming displaced from society, I know the profound impact of loss and exclusion. This personal experience fuels my commitment to our mission: to ensure that no one is left behind and that society does not crumble.
The statistics are stark—80% of those convicted are re-offenders, and 1.5 million people remain unemployed in the UK. However, at Beyond Food, we believe that these challenges can be overcome through hope, support, and action.
Our programmes have been meticulously designed for those whose lives have unravelled, offering them a unique pathway to rediscovery and empowerment. We have seen time and again that through expert support and heartfelt challenge, individuals can find new versions of themselves, enabling us to create a more compassionate society.
This past year, we successfully ran multiple programmes that have inspired and equipped vulnerable individuals with the skills they need to thrive. Our flagship initiative, FreshLife, continues to be a beacon of hope, offering practical training that combines culinary skills with life skills. Participants learn not only to create nourishing meals but also to nurture their self-awareness and resilience, paving the way for employment and independence.
We have fostered valuable partnerships, notably with mental health services, which have enhanced our outreach and support capabilities. Our funding efforts have been fruitful, allowing us to meet our budgets and maintain a healthy reserve. The passion and conviction of our dedicated team and diligent trustees have led us to develop a new strategic plan for the next three years, adopting a "less is more" approach that has strengthened our brand within the community.
Yet, as we close this chapter, we face new challenges. Our long-standing venue will not renew its purpose, which compels us to seek new pathways for 2025 and 2026. We are actively searching for a new hub for our adult FreshLife programmes and our unique events and are optimistic about the partnerships we are developing, including an exciting collaboration with the West Ham United Foundation. This partnership will provide us with a home for our youth programmes, allowing us to amplify our social impact.
Looking ahead, we are excited about establishing a hub and spoke model, with potential expansion into Grimsby. We are confident that these initiatives will not only sustain our mission but also enhance our ability to serve the community.
As we move forward, I invite you all to join us in this vital work. There is always a seat at our table, and together, we can continue to rewrite the stories of those who have faced adversity, helping them reclaim ownership of their lives.
Thank you for your unwavering support and belief in our vision. Together, we can make a meaningful difference
Simon Boyle CEO, Beyond Food Foundation
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BEYOND FOOD FOUNDATION
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
REFERENCE AND ADMINISTRATIVE DETAILS
STATUS
Company limited by guarantee without share capital.
REGISTERED OFFICE
Beyond Food Foundation, Floor 1, The Fire Station, 139 Tooley Street, London SE1 2HZ
REGISTERED NUMBER – COMPANIES HOUSE
07012686
REGISTERED NUMBER – CHARITY COMMISSION
1136234
CHIEF EXECUTIVE
S Boyle
TRUSTEES
M Hine (Chair) P Purewal (Resigned 3 May 2024) O Hatch (Secretary) I Isadora L Jenkins (Appointed 13 October 2023) I MacEachern S Malone (resigned 4 December 2023)
A Mazza P Miles
P Richardson (Resigned 3 May 2024)
Other than the changes noted above all of the Trustees were in office throughout the year. Since year end two new Trustees, Ian Oakley Smith and Chris Edwards, were appointed on 6 September 2024 and 11 July 2024 respectively and Louise Jenkins resigned on 19 September 2024.
BANKERS
NatWest Bank, 1 Princes Street, London, EC2R 8BP
INDEPENDENT EXAMINERS
Crowe UK LLP, R+ Building, 2 Blagrave Street, Reading, Berks, RG1 1AZ.
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FOR THE YEAR ENDED 30 JUNE 2024
BEYOND FOOD FOUNDATION
TRUSTEES REPORT
Structure & Governance
The Trustees of the Beyond Food Foundation (BFF, the Company or the Foundation), who are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the financial statements for the year ended 30 June 2024. The Financial Statements have been prepared in accordance with current statutory requirements, the Statement of Recommended Practice (SORP) - Accounting and Reporting by Charities issued in 2015.
The reference and administrative details set out on page 1 form part of this report.
The Foundation is a Company limited by guarantee and governed by memorandum and articles dated 6 July 2009. The Company is registered under the Companies Act 2006, registration number 07012686 and also registered as a charity on 7 June 2010, charity registration number 1136234.
The Foundation was incorporated and commenced operations on 8 September 2009. On 19 April 2010 the Company changed its name from the Beyond Boyle Foundation to Beyond Food Foundation.
Management & Organisational Structure
The Foundation Board is responsible for all principal decisions regarding the Foundation strategy, charitable and fund-raising activity strategies, and charity staff remuneration (which is set by reference to appropriate charity sector benchmarks and in consultation with the Beyond Food Community Interest Company (BFCIC)).
Such decision making is informed and supported by the recommendations of both the CEO, who attends all board meetings, and the charity team and two board sub-committees responsible for: Finance & Fund-raising, and Governance.
The CEO has day-to-day responsibility for and management of the Foundation’s charitable activities in support of beneficiaries and fund-raising to finance beneficiary programs, which is undertaken by the CEO and the charity team and third-party service providers contracted by the Foundation.
The Foundation’s activities are primarily undertaken at The Fire Station, 139 Tooley Street, London. The 1[st] Floor offers training facilities, whilst the ground floor is a social enterprise restaurant – Brigade Bar & Kitchen (BB+K) – managed by Searcys (a member of the Westbury Street Holdings Group), a leading independent hospitality provider and operated by Beyond Food Community Interest Company (BFCIC). In line with the Foundation’s objectives, BB+K has provided work experience opportunities for many of the Foundation’s beneficiaries.
The charity team, including the CEO, were contractually employed during the year by BB+K’s manager, Searcys, and worked for the Foundation. Costs incurred by Searcys on the Foundation’s behalf, including salaries, were invoiced to BFCIC as operator of BB+K. The Foundation made discretionary donations to BFCIC in respect of this expenditure. The collaborative relationship between the Foundation, BFCIC as operator and Searcys as manager of BB+K and employer of the charity team was reflected in regular meetings between the three, including in regular Operations Committee meetings involving senior representatives of all three parties.
As outlined in note 15 to the accounts, since the year end, this situation has now changed. Following a decision by our landlord, PwC, to use the premises at The Fire Station from July 2025, the arrangements involving BB&K and Searcys have now come to an end with effect from 31 January 2025. All members of the charity team are now employed directly by Beyond Food Foundation.
The charity continues to operate out of The Fire Station and will do so until 30 June 2025. We are presently in discussion over possible new premises and are optimistic that we will relocate to new premises in London which will enable us to continue our work in a largely uninterrupted fashion.
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FOR THE YEAR ENDED 30 JUNE 2024
BEYOND FOOD FOUNDATION
TRUSTEES REPORT (CONTINUED)
Trustee Appointments, Induction & Training
Trustee appointments are approved by the Board. Prospective Trustees are typically identified either through the Trustees Unlimited network or personal recommendation.
New Trustees are briefed on the objectives and activities of the charity and the environment within which it operates. The policies and procedures of the charity have been documented. These are updated on a cyclical basis. All Trustees are required to familiarise themselves with the charity’s policies and procedures.
– Charitable Activity Objectives, Activities & Achievements
Throughout the year, Beyond Food Foundation has witnessed significant transformations in the lives of our participants. Success stories abound, with many individuals reporting improved self-esteem, enhanced culinary skills, and greater employability. Our partnerships with various organisations, including the Ministry of Justice, mental health institutions, and social services, have expanded our reach and effectiveness, allowing us to support refugees, ex-offenders, and those in vulnerable positions.
The holistic nature of our programs fosters not only personal growth but also contributes to the creation of a more compassionate society. By helping individuals rewrite their narratives and reclaim their independence, we are not just changing lives; we are building a community that values resilience, empathy, and shared success.
At Beyond Food Foundation, we believe that everyone deserves a second chance and the opportunity to thrive. With every participant who walks through our doors, we reaffirm our commitment to providing a welcoming space where there is always a seat at the table for those seeking to transform their lives.
The Beyond Food Foundation had an impactful year, primarily focusing on its leading program initiatives through our FreshLife programmes. We successfully engaged 165 direct participants in our programs, creating a ripple effect that impacted an estimated 660 individuals across 22 London Boroughs. We collaborated with 32 referral partners to provide a structured and supportive approach for individuals. Despite facing challenges with recruitment and the establishment of new tracking metrics for sustained employment, our programs consistently provided meaningful work experience and significant personal growth to our participants.
A review of last year's participants confirmed that 75% of those ready for work remain employed twelve months later. We have progressively shaped our team to enhance program delivery with a keen focus on impacting young people involved in County Lines and early criminal activities, while increasing our collaborations with Prisons and Pupil Referral Units directly.
We have integrated our validated impact data into the National Social Value Calculator – Themes, Outcomes, and Measures (TOMs), which reveals that our impact in 2023/24 generated £1,272,023 in economic value. This means for every £1 of investment, we deliver £2.15 in social impact value, effectively generating more than double the initial input.
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BEYOND FOOD FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Case Studies and testimonials
Cameron
Cameron, 17, completed our Beyond the Classroom programme, having been referred through a Pupil Referral Unit. He was disengaged from learning and rarely attended school. Right away, from our initial inspirational school visit, it was evident that that food created a spark in Cameron.
After completing our programme Cameron completed work experience engaging with high profile events at Brigade Bar + Kitchen. which he loved. He completed his English and Maths functional skills qualifications to support his progression and after finishing year 11, facing a long empty summer, he took up our offer of work experience in the kitchen. This gave his confidence and skills a huge boost and put him in a position, with our support, to apply for a production chef apprentice position with BaxterStorey at the London Stock exchange.
He was successful and started the position being paid London living wage and continue to learn and hone his skills. We will keep in contact with Cameron to support him to make the most of this opportunity and to see this fine young Chef develop further.
Financial Review
The results for the year are shown on page 9 and show a net deficit for the year of £57,745 (2023: £44,296 net surplus).
However, had it not been for the write-off of our investment in Reaction Engines Limited (see note 15 to the accounts) of £125,000, we would have shown a surplus of £67,255, improving on our position in 2022-23 and in line with our desire to improve our liquid reserves position (see below).
This result has come about largely due to our significant efforts to improve all income sources. As in prior years the Foundation has sought to generate revenue from a combination of:
-
Local Authority funding – payments received from Local Authorities in respect of beneficiaries referred to the Foundation’s programmes, eg. from Pupil Referral Units, DWP or Youth Criminal Justice Service;
-
Grant funding – grants received from charitable or commercial organisations;
-
Earned Income – revenue self-generated from: (i) donations received from customers at BB+K, (ii) Feast Supper events run by the Foundation, (iii) one-off events run at BB+K by the Foundation for Corporate clients, often with the support an external events management company; and
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Major Donors – large donations from, typically, corporate sponsors of the Foundation on both a one-off and recurring basis.
In addition, the charity receives rent-free office space, the market value of which is included as Donations in kind .
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BEYOND FOOD FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
The result of these activities was as follows:
| Local Authority Grant Funding Donations in kind Earned Income Major Donors Total Income Total Expenditure (Deficit)/Surplus |
2024 £ 300 304,110 65,832 285,959 77,358 733,559 (787,255) (53,696) |
2023 £ 22,525 129,050 _64,541_ 214,637 182,987 613,740 (569,444)* |
2023 £ 22,525 129,050 _64,541_ 214,637 182,987 613,740 (569,444)* |
|---|---|---|---|
| 44,296 |
*restated see note 11 to the accounts
No material expenditure was incurred during the year specifically to raise income in future periods. All fundraising related expenditure has been charged to the Income and Expenditure account when incurred.
The Trustees acknowledge and are grateful for the ongoing support received from donors, particularly in such difficult circumstances, who understand in full the gravity of beneficiaries’ situations and the work BFF does for many of our beneficiaries.
Reserves Policy
The Trustees’ policy has been to build reserves so as to facilitate the continuation of our programs through peaks and troughs in our income streams and expenditure. In light of continuing inflationary pressures, the challenging and uncertain fund-raising environment that such pressures exacerbate and growing beneficiary demand for BFF’s services, during the year 2022-23 Trustees increased our liquid reserve target from three months to six months of ongoing costs.
During the year good progress was made towards this target, with Reserves at 30 June 2024 standing at £167,835 (2023: £225,580).
However, following the write-off of the Reaction Engines shares referred to in note 15 to the accounts, nearly all of these reserves are liquid and represent approximately 3 months’ worth of total expenditure. Given the other post-balance sheet events referred to in note 15 to the accounts, the Trustees will be keeping this policy under review and making such revisions as are necessary once new premises have been secured and the new model referred to below has been implemented.
Stakeholders
In this annual financial accounting report, we would like to express our deep appreciation for the unwavering support of our stakeholders during what has been a challenging year. Each and every one of you has not only maintained your commitment but has also increased your support - both financially and intellectually.
As we look ahead, we are excited about new partnerships on the horizon that will bring additional sources of funding and create direct opportunities for our participants. Despite the precarious global situation, the Beyond Food Foundation remains in a strong position, backed by stakeholders including our faithful trustees who believe in our mission and will guide us through the challenges that lie ahead.
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TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
BEYOND FOOD FOUNDATION
Outlook, Risks & Uncertainties
Overall the Trustees have been very pleased with BFF's progress during this financial year. From a financial perspective, costs were closely controlled and our fundraising activities continued to develop, particularly our approaches to Corporate events/ Earned Income, Grant Funding applications and Major Donor engagement. All of these income streams once again saw positive results. As a consequence, we are pleased to have concluded the year with a significant operating surplus which will further bolster reserves, helping secure the Foundation’s future sustainability, particularly in light of the continuing challenges in the general economic environment and our need to relocate. Sadly, we have had to write off the value of our investment in Reaction Engines Limited, which had previously contributed a value of £125,000 to our reserves (see note 15). This value was always seen as illiquid, but it is frustrating that our overall reserve has therefore reduced, despite our operating surplus. Nevertheless, we consider that our reserve position of £167,835 gives us comfort that we can continue to operate and manage our risks acceptably.
Our continued strategy to shift from apprenticeships to work experience has driven our Beneficiary focus towards employment with employment partners. Building these over the next year will increase our success in placing individuals in supported and meaningful career focused opportunities with supported work placements.
We also continue to anticipate high levels of demand for the Foundation’s outreach support which will provide harder to reach communities with real work prospects. Taking our programmes into prisons and working with prisoners due for release back to London, through our Beyond Prison Programme, will provide a consistent recruitment flow for our Freshlife Programme.
We have also continued to have success with our Beyond the Classroom programme, specifically targeting young people in care or who are just leaving the care system, to ensure they can access a supportive network, with reassurance of help when it is needed, providing key life skills to ensure longterm independence. We anticipate continued growth in demand for this programme in 2024-25.
The principal risk and uncertainty to which the Trustees believe BFF is exposed remains the challenging economic environment and high level of demand for donations and grants from Donors and Grant Funders, which continue to make the charitable fund-raising space extremely competitive, with a consequent impact on the predictability of future income. Whilst our response to these challenges has been successful to date, the Trustees remain mindful of the need to remain proactive in our income generating activities and to maintain close control of costs.
At the time of writing, the other risk facing the charity is the need to relocate to new premises, as referred to above and in note 15. The charity has been aware of this need since 29 October 2024 and has been proactive in identifying potential new premises and we have until 30 June 2025 to find somewhere. A sub-committee of Trustees was appointed to work with the CEO to identify appropriate options. The charity’s long track record of success in delivering its impact has proved attractive to potential landlords/partners. As a result, we are confident that we will find new premises at an appropriate cost to the charity.
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BEYOND FOOD FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Outlook, Risks & Uncertainties (continued)
As the Beyond Food Foundation undergoes significant changes, we recognise the importance of strong thought leadership. The trustees are collaborating closely with the CEO, who is not only envisioning the future but also implementing necessary changes. As Brigade leaves our model as the home of the charity’s programs and events, it is essential to acknowledge that Beyond Food has a responsibility to learn from its history while scaling towards a promising future. Brigade has been a valuable establishment for the past 15 years; however, it has also created a more sheltered environment that has limited our potential.
After thorough reflection and planning, we have decided to transition to a hub-and-spoke model. This shift will be managed carefully to mitigate unnecessary risks, yet it also presents us with the opportunity to assist more individuals and become increasingly fundable in our mission to establish a stable and viable charity that continues to support those in need.
As part of this new model, we will develop partnerships with new spaces, which will be managed by individuals and organisations that share our values. The trustees will ensure that all partnerships are aligned with sound principles and stem from organisations with strong historical backgrounds and reputable boards of directors. Currently, we are exploring various prospective partnerships.
Collaboration with the CEO and management team has become a standard practice at the Beyond Food Foundation, allowing us to assess the risks associated with transitioning from a rent-free Brigade to developing partnerships. Our collaborative approach to fundraising, where we offer our services as part of the partnership rather than as a financial contribution, not only strengthens our financial standing but also bolsters program development and recruitment. Each new space we occupy will contribute to solid fundraising efforts, align with our programs, and offer venues for our corporate events focused on purpose-driven strategies.
Over the past four months, we have concentrated on enhancing our leadership, management, and team expectations. We have updated job specifications in accordance with our new hub-and-spoke strategy and are currently re-evaluating our brand ecosystem to ensure that it supports our intended growth. Our communication strategy is also under development.
We are committed to understanding where to invest and grow talent for the future, ensuring that this is executed in a timely and considered manner. We have taken proactive steps to manage and mitigate potential risks, making effective use of our subcommittees and finance strategy while adhering to strong governance practices.
In conclusion, the overall outlook for the Beyond Food Foundation is very positive. We are excited about the future and the transformative changes that lie ahead.
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BEYOND FOOD FOUNDATION TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Account Pre aration - Goin Concern These Financial Statements have been prepared on the Going Concern basis. Having considered the foreseeable future for the Foundation the Trustees are content that this basis is appropriate. As with many charities, BFF relies upon the ongoing support of a variety of funders and also on the income generated from fundraising activities. Discussions with funders have confirmed that the move away from Brigade to new premises should not impact materially BFF'S ability to generate sufficient income to ensure that its costs are met and. importantly. that it continues to provide impact to those people supported by BFF which is both positive and cost-effective. STATEMENT OF DIRECTORS, RESPONSIBILITIES The Trustees (who are also directors of Beyond Food Foundation for the purposes of company law} are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). Company law requires the Trustees to prepare financial stalemenls 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 the incoming resources and application of resources, including the income and expendilure, of the charilable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whelher applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial slatements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the ¢harrtable 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, disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the trustees on . 17M 2025 and signed on their behalf by-. M Hine Chair of Trustee
BEYOND FOOD FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2024
(Incorporating an Income and Expenditure Account)
| Notes Income and endowments from: Donations Donations in kind Local Authority Funding Grants receivable Earned income Total income Expenditure on: Raising funds Charitable activities Cost of activities in furtherance of the charity’s objects 3 Total expenditure Net gains/(losses) on investments Net income (expenditure) Transfers between funds NET MOVEMENT IN FUNDS FOR YEAR Funds at the start of the year Funds at the end of the year |
Unrestricted Funds 2024 £ 77,358 65,832 300 304,110 285,959 733,559 164,027 498,228 662,255 (125,000) (53,696) - (53,696) 221,531 167,835 |
Restricted Funds 2024 £ - - - - - - - 4,049 4,049 - (4,049) - (4,049) 4,049 - |
Total Funds 2024 £ 77,358 65,832 300 304,110 285,959 733,559 164,027 502,277 666,304 (125,000) (57,745) - (57,745) 225,580 167,835 |
Total Funds 2023 £ 182,987 * 64,541 22,525 129,050 214,637 613,740 122,983 446,461 569,444 - 44,296 - 44,296 181,284 225,580 |
|
|---|---|---|---|---|---|
- restated see note 11
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13-20 form part of the Financial Statements.
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BEYOND FOOD FOUNDATION BALANCE SHEET AS AT 30 JUNE 2024 Company number: 07012686 Notes 2024 2023 Current Assets Cash al Bank and in Hand Investments Stock Accrued Income 239,486 187,435 125, 000 13,405 252 312 367 154 Current Liabilitles Payables Deferred Income 160,077) (111,574) Net Current Asset8 167 225 Total Assets Reservos Unrestricted Funds Restricted Funds 10 167.835 221.531 Total Funds The Trustees consider thal the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the 2006 Act and the members have not required the charitable company to obtain an audit for the year in question in accordance with section 476 of the 2006 Acl. The Trustees have prepared accounts in accordance with section 398 of the 2006 Act and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act regarding Small companies and constitute the annual accounts required by the 2006 Act and are for circulation lo the members of the company. These Financial Statements were approved and aulhorised for issue by the Board and signed on its behalf by.. M Hine.. Chair of Trustees The notes on pages 13-20 fomi part of the Financial Statements.
BEYOND FOOD FOUNDATION
CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
| Cash flows from operating activities Net cash provided by operating activities (see below) Cash flows from investing activities Bank interest received Net cash (used in)/provided by investing activities Cash flows from financing activities Bank loan repayments Bank interest paid Net cash used in financing activities Change in cash and cash equivalents in reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Reconciliation of net income to net cash flow from operating activities Net income Adjustments for Decrease/(increase) in Debtors Decrease/(increase) in Investments Decrease/(increase) in Stock Increase/(decrease)/ in Creditors Analysis and movement of Net Debt 2023 £ Cash flow £ Cash in hand 187,435 52,051 |
2024 £ 52,051 - - - - - 52,051 187,435 239,486 2024 £ (57,745) 31,488 125,000 13,405 (60,097) 52,051 2024 £ 239,486 |
2023 £ 97,358 - - - - - 97,358 90,077 187,435 2023 £ 44,296 (28,163) - (13,405) 94,630 97,358 |
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|---|---|---|---|
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
1. PRINCIPAL ACCOUNTING POLICIES
The principal accounting policies adopted, judgments and key sources of estimation and uncertainty in the preparation of the financial statements are as follows:
i) Basis of preparation
The accounts have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Beyond Food Foundation 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 note.
The Financial Statements have been prepared on a going concern basis under the historical cost convention. The Trustees have no reason to believe that a material uncertainty exists that may cast significant doubt on the ability of the Foundation to continue as a going concern. On the basis of their assessment of the Foundation’s financial position, the Trustees have a reasonable expectation that the Foundation will be able to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual Financial Statements. Details of the structure, governance and management of the charity, including the risk management and financial review, are set out in the Trustees’ report.
ii) Income / Deferred Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) have been met and it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Where donations have been received over which performance conditions apply which are only capable of being met in subsequent periods such donations are reflected as Deferred Income, notwithstanding that cash has been received, and are only released to Income when the performance conditions have been met.
iii) Reserves / Fund accounting
Unrestricted Funds are available to spend on any activities that further any of the purposes of the charity.
Restricted Funds represents grants or donations which the donor has specified are to be solely used for particular areas of the Foundation’s work or for specific projects it undertakes. Restricted Fund balances represent the balance of such Restricted Income which has not yet be used for the purpose specified.
iv) Expenditure - Raising funds, Charitable activities and Restricted purposes
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Where appropriate, all expenditure is recognised inclusive of VAT.
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
iv) Expenditure - Raising funds, Charitable activities and Restricted purposes (continued)
Raising funds comprise the costs associated with attracting voluntary income and the costs of fundraising activities.
Charitable expenditure includes all non-Fund raising costs and comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect or administrative nature necessary to support them.
Restricted Expenditure reflects the endeavour and consequently level of expenditure associated with delivering activities funded by Restricted Income.
v) Cash at Bank and in hand
Cash at bank is stated at the reconciled values in the bank accounts and cash in hand is stated on the basis of the money held at the time.
vi) Stock
Stock is stated at the lower of cost and net realisable value.
vii) Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, which are described in note 1, Trustees are required to make judgements, estimates and assumptions about the carrying value of Investments that are not readily apparent from other sources. The estimation and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects the current and future periods.
In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting the Investments at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
viii) Pensions
The charity’s staff are employed by Searcys rather than the charity itself. As such the charity does not contribute to the personal pension plans of employees. Total contributions in the year were £nil (2023: £nil). There were no outstanding contributions at the balance sheet date (2023: £nil).
ix) Donations in kind
The charity includes the estimated market value of donations in kind as income and cost, where this value can be assessed with reasonable confidence.
2. DONATIONS IN KIND
During the year, Beyond Food Foundation received a donation in kind in the form of rent on its offices at The Fire Station. The landlord to The Fire Station, PwC, has estimated that the market value of the rent, which is provided at no charge, was £65,832 (£64,541). This estimate has been included in both income and expenditure on charitable activities (note 3. Below), with the effect that there is no impact on the surplus/deficit for the year, nor on the balance sheet as at 30 June 2024.
Please also refer to note 11. below relating to a prior year adjustment in this regard.
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
3. CHARITABLE ACTIVITIES
| Wages and salaries – admin Wages and salaries – delivery of activities Rent (donated in kind) Hardship Grants to Beneficiaries Marketing Travel Office costs Equipment Training course costs Professional fees Bank charges Irrecoverable VAT |
2024 £ 71,213 190,033 65,832 4,505 61,869 7,762 14,757 6,019 44,977 28,975 335 6,000 502,277 |
2023 £ 69,608 216,082 64,541 248 10,450 3,959 657 4,648 23,736 18,908 287 33,337 446,461 |
|---|---|---|
Professional fees include the fee of £6,500 for the independent examination of these financial statements (2023: £4,800).
4. INVESTMENTS
On 27 October 2021 BFF were gifted 6,609 shares in Reaction Engines Limited by a corporate sponsor of the charity. The corporate sponsor made an equivalent donation to a number of other charities it supports. Reaction Engines is an unlisted private company and BFF’s shareholding represents less than 0.1% of its share capital.
Reaction Engines Limited was placed into Administration on 31 October 2024 and, as a consequence, its shares have no value (2023: £125,000). Please see Note 15 “Post-Balance Sheet Events” below.
5. STOCK
Stock comprises books of recipes prepared by the Founder, other leading chefs and past beneficiaries commissioned by the Foundation and held for sale or gifting to promote Fund-raising activities. Since 2023, much of the stock has, in practice, been utilised to support the charity’s marketing and fundraising efforts. As a result, the charity has taken the decision to write down the value of the stock as at 30 June 2024 from its book value of £9,320 to £nil.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Recipe books | - | 13,405 |
6. ACCRUED INCOME
Accrued income relates to donations made by diners at Brigade Restaurant during the year which are passed to BFF after the year end and income from other fundraising events undertaken during the year but received post year-end. Donations and event income outstanding as at year end 2024 £12,826 (2023: £41,314).
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
7. STAFF COSTS
Staff costs during the year comprise:
| Salaries (incl NI & Pension costs) Recruitment and training |
2024 £ 361,163 17,681 378,844 |
2023 £ 339,561 1,411 340,972 |
|---|---|---|
Staff costs are paid by BB+K’s management company, Searcys.
The weekly average number of staff (some of whom work part-time) was as follows:
| 2024 | 2023 | |
|---|---|---|
| CEO | 1.0 | 1.0 |
| Fund-raising | 1.0 | 1.0 |
| Training & Beneficiary | 3.0 | 3.8 |
| Support | ||
| Administration | 0.2 | 0.7 |
| Apprentices | 0.0 | 2.5 |
| Total | 5.2 | 9.0 |
In addition to the Foundation’s team, from time-to-time the charity also benefits from the support of volunteers, who are trainers in specific fields as a profession. They use their own material and retain their own copyright. Often volunteers come from corporate organisations who gift employees volunteering days. However, we only engage volunteers on programmes with evidenced need and known skills to impact beneficiaries.
Two (2023: One) employees earned in excess of £60,000 per annum, one in the band £60,001 - £70,000, and; one in the band £120,001-130,000 per annum (2023: One, in band £100,000-110,0000).
No trustee received remuneration during the year ( 2023: One, £30 ). No trustees received reimbursement for items paid for on behalf of the charity during the year .
The remuneration of key management personnel (including employers NI and employers pension costs paid by Searcys) is £121,335 (2023: £118,445).
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
8. PAYABLES
| Accruals Trade Payables Total |
2024 15,395 44,682 60,077 |
2023 26,342 85,232 111,574 |
|---|---|---|
Accruals include £6,500 of professional fees and expenses outstanding at the year end (2023: £5,000).
Trade Payables of £44,682 relate to the direct costs of Charitable Activities undertaken during the year to June 2024 which were settled after the year end (2023: £85,232)
9. DEFERRED INCOME
During the year, £24,400 of donations were received over which performance conditions apply which had not been met at year end (2023: £33,000).
10. RESERVES
| Restricted Funds Hardship Unrestricted funds Comparatives Restricted Funds Displaced Ukrainians Hardship Programmes Unrestricted funds |
1 July 2023 £ 4,049 4,049 221,531 225,580 1 July 2022 £ - 6,607 - 6,607 174,677 181,284 |
Incoming Resources £ - - 733,559 733,559 Incoming Resources £ - - 22,250 22,250 591,490 613,740 |
Transfer £ - - - - Transfer £ - - 21,192 21,192 (21,192) - |
Resources Expended £ (4,049) (4,049) (787,255) (791,304) Resources Expended £ - (2,558) (43,442) (46,000) (523,444) (569,444) |
30 June 2024 £ - - 167,835 167,835 30 June 2023 £ - 4,049 - 4,049 221,531 225,580 |
|||
|---|---|---|---|---|---|---|---|---|
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
During the year, £Nil (2023: £22,250) of donations were received to assist with specific Programmes.
Such donations together with similar donations in prior periods, to the extent that they have not been expended on the specific Programme or purpose for which they were granted, are reflected in Restricted Reserves.
Restricted Reserves have been / will be used as follows:
- Hardship reserve – provides support to Beneficiaries who are struggling financially, for example with the cost of accommodation or the cost of travel to participate in programmes
11. PRIOR YEAR ADJUSTMENT
The accounts for the year ended 30 June 2023 did not take account of the donation in kind relating to office rent, referred to in note 2 above. In order to ensure consistency with the treatment of this donation in kind during this year, the comparative figures for the year ended 30 June 2023 have been restated to take account of this omission. The equivalent estimated market value for the office rent received at no charge is £64,541, which assumes a 2% increase from 2023 to 2024.
There is no impact upon the balance sheet as at 30 June 2023, as the estimated value of £64,541 has been included in both income and charitable expenditure.
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Investments Other Current assets Current liabilities 2023 Comparative Investments Other Current assets Current liabilities |
Unrestricted Funds General £ - 252,312 (84,477) 167,835 £ 125,000 241,105 (144,574) 221,531 |
Restricted Funds £ - - - - £ - 4,049 - 4,049 |
Total Funds 2024 £ - 252,312 (84,477) 167,835 £ 125,000 245,154 (144,574) 225,580 |
|---|---|---|---|
13. ULTIMATE CONTROLLING PARTY
The Trustees are the Foundation’s ultimate controlling party.
14. RELATED PARTY TRANSACTIONS
During the year, as previously, design and marketing services were provided to the Foundation by Bright Spark Limited. Bright Spark is owned by a related party of the Foundation’s CEO.
Total payments made by BFF to Bright Spark were £1,877 (2023: £4,220).
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
During the year BFF continued working with a third-party event management company to increase selfgenerated Earned Income opportunities and develop an increased level of professional delivery and management. This initiative also provided benchmarking and training opportunities for those who engage in organised events. This company is partially owned by a related party of the Foundation’s CEO.
The arrangement was in place throughout the year. Total revenues to BFF generated in the year through this relationship were £136,198 (2023: £75,506). Total payments made by BFF to the event management company were £27,239 (2023: £10,350).
Since the year end, the arrangement with the event management company has been concluded. Further revenues continue to be earned, but all payments by BFF have now been agreed and paid.
15. POST BALANCE SHEET EVENT AND GOING CONCERN
Relocation of Head Office premises
For many years, BFF has been based at premises at Brigade Bar & Kitchen, near London Bridge. The landlord to the premises, PwC, has for a long time supported BFF by way of a rent-free use of the premises, in addition to a variety of other fundraising activities and support in kind.
Since the year end, PwC has given notice to BFF that it now requires use of the premises for other purposes. As a result, the restaurant operating from the premises, Brigade Bar & Kitchen, closed on 20 December 2024. PwC agreed with BFF that it could remain based at the premises until 30 June 2025, to allow it time to find an alternative location. In addition, BFF is able to use the facilities at Brigade Bar & Kitchen for the purposes of fundraising activities and to support its charitable work.
At the time of writing, BFF continues to explore its options in relation to new premises.
Investments: Reaction Engines Limited
On 27 October 2021 BFF were gifted 6,609 shares in Reaction Engines Limited by a corporate sponsor of the charity. Reaction Engines is an unlisted private company and BFF’s shareholding represents less than 0.1% of its share capital.
Reaction Engines Limited was placed into Administration on 31 October 2024 and, as a consequence, its shares have no value (2023: £125,000). In the opinion of the Trustees the circumstances applicable to a £nil valuation existed at the balance sheet date and accordingly the shares have been valued at £nil as at 30 June 2024.
Going Concern
As a result of the events referred to above, the Board of Trustees has considered the charity’s financial position and prospects and remains of the view that BFF continues to have a strong future and that the going concern assumption in note 1 to the accounts remains appropriate. As with many charities, BFF relies upon the ongoing support of a variety of funders and also on the income generated from fundraising activities. Discussions with funders have confirmed that the move away from Brigade to new premises should not impact materially BFF’s ability to generate sufficient income to ensure that its costs are met and, importantly, that it continues to provide impact to those people supported by the charity which is both positive and cost-effective.
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BEYOND FOOD FOUNDATION
NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
16. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (RESTATED FOR PRIOR YEAR ADJUSTMENT)
| Notes Income and endowments from: Donations Donations in kind Local Authority Funding Grants receivable Earned income Shares donated Total Expenditure on: Raising funds Charitable activities Cost of activities in furtherance of the charity’s objects Total Net expenditure Transfers between funds NET MOVEMENT IN FUNDS FOR YEAR Funds at the start of the year Funds at the end of the year |
Unrestricted Funds 2023 £ 182,987 64,541 22,525 106,800 214,637 - 591,490 122,983 400,461 523,444 68,046 (21,192) 46,854 174,677 221,531 |
Restricted Funds 2023 £ - - - 22,250 - - 22,250 46,000 46,000 (23,750) 21,192 (2,558) 6,607 4,049 |
Total Funds 2023 £ 182,987 64,541 22,525 129,050 214,637 - 613,740 122,983 446,461 569,444 44,296 - 44,296 181,284 225,580 |
|---|---|---|---|
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INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES
OF BEYOND FOOD FOUNDATION
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2024, which are set out on pages 10 to 20.
This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity’s trustees of the Company (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 the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of 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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Jacqueline Mitchell CROWE U.K. LLP Chartered Accountants R+ Building 2 Blagrave Street Reading, RG1 1AZ
Date: 18 March 2025
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