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2023-03-31-accounts

COMPANY 06986325 1136676

REGISTRATION NUMBER: CHARITY REGISTRATION NUMBER:

Black Country Foodbank Limited Company Limited by Guarantee

Financial Statements

31 March 2023

BSN ASSOCIATES LIMITED

Chartered accountants & statutory auditor 3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG

Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2023

Pages
Trustees' annual report (incorporating the director's report) 1 to 6
Independent auditor's report to the members 7 to 10
Statement of financial activities (including income and expenditure account) 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 to 24

Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Doc ID.. 67866973ea6a2b8f658adf387ef476f798Ca8688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2023

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023.

Reference and administrative details

Registered charity name Black Country Foodbank Limited Charity registration number 1136676 Company registration number 06986325 Principal office and registered 3B Swallowfield Courtyard office Wolverhampton Road Oldbury West Midlands B69 2JG The trustees Mr J M Russell Ms J Corns Ms P La Rue Mr C Maltby Mr L Massey Mr S Badhan Auditor BSN Associates Limited Chartered accountants & statutory auditor 3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Structure, governance and management

The organisation is a charitable company limited by guarantee (registered in England and Wales). The organisation was incorporated on 10 August 2009 and became a registered charity under the Charities Act on 30 June 2010. The charity commenced its activities from 1 July 2010 and this is its twelfth year of operations.

The charity is governed by its memorandum and articles of association as amended by special resolution on 22 March 2010.

The Board of Trustees, who are also directors of the charity for the purposes of the Companies Act, have overall responsibility for the direction, management and control of the charity.

The Board shall comprise of no fewer than two members and there is no maximum number of members. At the end of the reporting period there were a total of six members, all of whom are unpaid.

The Board have the power to appoint a member at any time to fill a casual vacancy or as an addition to the existing members. Members are appointed according to their relevant skills, competencies and experience which is assessed by the existing board of members. Every year one third of the members holding office must retire, these members will be the ones who have held office the longest. The Board may fill the vacated office by electing an individual to office and in default the retiring member shall if offering themselves for re-election, be deemed to have been re-elected unless the Board resolve not to fill the vacated office. A member can retire at any point by resigning his office in writing.

All new members receive a full induction into the charities operations by existing members.

The liabilities of members is limited to their guarantee. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

The Charity is managed on a day-to-day basis by the Chief Executive Officer (CEO) who reports to the board of Trustees on a regular basis. Trustees’ meetings are held on a quarterly basis.

Aims and purpose

Black Country Foodbank exists to help vulnerable individuals and families in crisis through the provision of emergency food supplies while a longer -term solution is developed. The services that we provide have an enormous impact on the people who use them, giving them breathing space at a time of great need.

Our three core values are:

To Love: - Responding to the needs of those in crisis, To Connect:- Engaging organisations throughout the Black Country in our mission, To Invest:- Working with volunteers and staff

Our areas of operations cover the Black Country region: with twenty-seven distribution centres (branches) across Dudley, Walsall and Sandwell boroughs. All distribution centres are supported from a central warehouse function based in Brierly Hill in the Dudley Borough.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Objectives and activities

Black Country Foodbank is committed to delivering a responsive service involving the distribution of food, toiletries and household items to those who, following a needs assessment, have been referred to us by a diverse range of frontline agencies (voucher holders) due to being in crisis.

While the voucher-holding agency puts interventions in place to help the families and individuals in the longer term, we will not only feed but also to look to ‘signpost’ the service user to other sources of care and support on a personal, case-by-case basis.

The organisations roots are in the Christian faith however we are entirely committed to helping anyone who needs our support, young, old, single people and families from all backgrounds, religious beliefs (if any) and ethnic origin, without prejudice. We aim to treat everyone fairly and with dignity. Our policies are robust in ensuring that there is no place for any form of discrimination, be that with those we help, the broad spectrum of those we accept donations from and those we recruit as staff and/ or volunteers.

The Trustees have confidence that the organisations operating model provides reassurance to donors, prospective donors, agencies and the wider community that no abuse of the system is possible. Voucher holding agencies adhere to a robust system of needs assessment to ensure only those in genuine need are supported and are engaged with regularly and supported as necessary.

.

Achievement, performance and volunteers

Through this financial year, Black Country Foodbank continued to see demand grow for the use of its core services and the organisation continued to adapt to the changing and challenging macro environment centred around the cost-of-living crisis and supply chain issues and we have experienced the real pressures being experienced by individuals and organisations, which sees little signs of abating.

Black Country Foodbank through this time frame have remained on the frontline providing services trusted and respected by local authorities and partners who value our staff and volunteers’ dedication, experience and passion to make a difference and we will continue to meet the needs of our local communities through love, connection and investing.

Through the Financial Year 2022-2023, we have seen the following centred around key measures used to help assess the current position,

Key Measures

2022-23 2021-22 Var % YOY
Total People accessing provision
(DC’s & Central)		 39,771 27,682 44%
Including Children 14,738 10,501 40%
Total Equivalent Meals Provided (Partners only)
(Hot meals, hampers & children’s lunches)		 35,582 126,156 -72%
Total Food Distributed
(25 DC’s, Central & Partners) in Tonnes		 277 258 7%
Total Donations
(DC’s & Central) in Tonnes		 267 291 -9%

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Achievement, performance and volunteers contd

We continue to remain amazed by the generosity of local people, organisations, faith groups, schools who donate time, finance and food to Black Country Foodbank and our team have worked hard to make sure everything is shared across our network and partners.

We continue to support the delivery of initiatives designed to tackle child hunger through school holidays.

We continue to collaborate with other support agencies including Dudley CVS, local authorities, Citizens Advice, Welfare Rights, Homeless Services as well as other charities to continuously improve support to those in our local communities.

The recipe card and provision initiative continues to grow as a complementary provision to food parcels and its simplicity is helping to support a positive change and continues to grow.

This period we launched the “Impact Report” which is a first step for Black Country Foodbank to highlight the demand and the pressures that are being experienced within our local communities.

The cost-of-living challenges have been seen through this period and continue to be a real risk and challenge of which Black Country Foodbank continue to maintain its focus on the delivery of its core objective - To help vulnerable individuals and families in crisis through the provision of emergency food supplies while a longer - term solution is developed.

Public benefit

Under the Charities Act 2011, charities are required to demonstrate that their aims are for the public benefit. The two key principles which must be met in this context are, first, that there must be an identifiable benefit or benefits; and secondly, that the benefit must be to the public, or a section of the public. Charity trustees must ensure that they carry out their charity's aims for the public benefit, must have regard to the Charity Commission's guidance, and must report on public benefit in in their Annual Report.

The charities board of trustees regularly monitors and reviews the success of the organisation in meeting its key objectives of relieving financial hardship, sickness and needs of people. The Trustees confirm, in the light of the guidance, that these aims fully meet the public benefit test and that all the activities of the charity, described in the Report of the Trustees, are undertaken in pursuit of these aims.

Financial review

The charities total incoming resources for the year were £1,426,938 (2022: £1,121,710) which were generated primarily from donations received from the public and various organisations and grants. The total resources expended of the charity were £1,094,929 (2022: £988,892) and represent the costs incurred to enable the charity to carry out its operations. The charity made a surplus for the year of £ 332,109 (2022: £132,818).

Reserves and going concern

The trustees consider that 25% of the charities annual operating expenses (excluding donated goods) is a reasonable level of unrestricted funds to retain, to allow the charity to have sufficient funds going forward to meets it obligations.

2023 2022
£ £
Unrestricted Funds 836,548 610,154
Restricted Funds 202,507 96,792
--------------------------------- ---------------------------------
Total Funds 1,039,055 706,946
================================= =================================
% of unrestricted funds to annual operating expenditure 498 394

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Financial review (continued)

The trustees are pleased to report that the charities reserves policy has been met and that the charity intends to use its reserves to further its objectives.

Risk management and internal control

The Trustees have overall responsibility for ensuring that the organisation operates an appropriate system of controls, financial and otherwise to provide reasonable assurance that:

They do this by reviewing the up to date financial information of the charity including a review of its financial procedures and identifying and managing risks that the charity is exposed to.

Plans for future periods

Black Country Foodbank remain committed to the objective of its core purpose of providing nutritionally balanced food provision in a time of crisis however agility and response to the ever-changing macro environments will be required in the short to medium term. Our experiences and relationships through our response in Covid-19 has demonstrated our resilience and response to those in need throughout the Black Country and our focus on partnership has helped to strengthen our position of trust within the local authorities, organisations and also the local communities we serve.

We are aware daily of the efforts and diligence that our staff team and volunteers make to ensure donated food is processed and distributed as effectively as possible and without question we remain humble by the local communities who chose us to make food and financial donations to where we can make a difference despite challenging times.

We are acutely aware that cost of living pressures continues to grow and put pressure on the most vulnerable within our local communities and we are committed throughout 2023-24, to continue to deliver on our core purpose through our network of volunteers providing food for those in crisis throughout the Black Country.

This in turn will mean that our network will expand to include the opening of new distribution centres but also to increase our capacity centrally to maintain but also grow our capabilities whilst also continuously reviewing our network model to ensure the most effective methods of operations. We will also review capacity through our central warehouse and operations to ensure that we continue to support and deliver on our vision.

By creating capacity and a firm foundation through new distribution centres, process and policy reviews, we will be able to develop and further expand “wrap-around” services to support the service user’s wider needs of which a focus is the expansion of the provision of recipe cards.

Key priorities for the coming period include,

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Trustees' responsibilities statement

The trustees, who are also directors for the purpose of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unted Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a trus and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including income and expenditure, for that period .

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

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees annual report was approved at the Black Country Foodbank Board Meeting held on Monday 27[th] November 2023 and signed on behalf of the board of trustees by

Mr C Maltby Trustee

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Black Country Foodbank Limited

Year ended 31 March 2023

Opinion

We have audited the financial statements of Black Country Foodbank Limited (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Black Country Foodbank Limited (continued)

Year ended 31 March 2023

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Black Country Foodbank Limited (continued)

Year ended 31 March 2023

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities that result from fraud might be inherently more difficult than irregularities that result from error, which gives risk to a risk of material misstatement. We are of the opinion that the planned audit approach, the documentation and interrogation of the entity's controls means that the audit procedures carried out were capable of detecting irregularities, including fraud. We have also reviewed financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. We have audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. We have also made enquiries of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Black Country Foodbank Limited (continued)

Year ended 31 March 2023

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hannah Justice FCA FCCA (Senior Statutory Auditor)

For and on behalf of BSN Associates Limited Chartered accountants & statutory auditor 3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG

27 November 2023

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2023

2023 2022
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 357,149 1,056,853 1,414,002 1,121,285
Investment income 6 12,936 – 12,936 425
--------------------------------- ------------------------------------------ ------------------------------------------ ------------------------------------------
Total income 370,085 1,056,853 1,426,938 1,121,710
================================= ========================================== ========================================== ==========================================
Expenditure
Expenditure on charitable activities 7,8 143,630 951,199 1,094,829 988,892
--------------------------------- ------------------------------------------ ------------------------------------------ ------------------------------------------
Total expenditure 143,630 951,199 1,094,829 988,892
================================= ========================================== ========================================== ==========================================
--------------------------------- ------------------------------------------ ------------------------------------------ ------------------------------------------
Net income 226,455 105,654 332,109 132,818
================================= ========================================== ========================================== ==========================================
Transfers between funds (61) 61 – –
--------------------------------- ------------------------------------------ ------------------------------------------ ------------------------------------------
Net movement in funds 226,394 105,715 332,109 132,818
Reconciliation of funds
Total funds brought forward 610,154 96,792 706,946 574,128
--------------------------------- ------------------------------------------ ------------------------------------------ ------------------------------------------
Total funds carried forward 836,548 202,507 1,039,055 706,946
================================= ========================================== ========================================== ==========================================

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

The notes on pages 15 to 25 form part of these financial statements.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

2023 2022
Note £ £ £
Fixed assets
Tangible fixed assets 14 15,113 29,331
Current assets
Debtors 15 8,845 2,681
Cash at bank and in hand 1,019,249 678,840
------------------------------------------ ---------------------------------
1,028,094 681,521
Creditors: amounts falling due within one year 16 4,152 3,906
------------------------------------------ ---------------------------------
Net current assets 1,023,942 677,615
------------------------------------------ ---------------------------------
Total assets less current liabilities 1,039,055 706,946
------------------------------------------ ---------------------------------
Net assets 1,039,055 706,946
========================================== =================================
Funds of the charity
Restricted funds 202,507 96,792
Unrestricted funds 836,548 610,154
------------------------------------------ ---------------------------------
Total charity funds 18 1,039,055 706,946
========================================== =================================

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

These financial statements were approved by the board of trustees and authorised for issue on 27 November 2023, and are signed on behalf of the board by:

Mr C Maltby Trustee

The notes on pages 15 to 25 form part of these financial statements.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2023

2023 2022
£ £
Cash flows from operating activities
Net income 332,109 132,818
Adjustments for:
Depreciation of tangible fixed assets 13,870 16,644
Other interest receivable and similar income (12,936) (425)
Interest payable and similar charges 259 267
Accrued expenses 246 21,459
Changes in:
Trade and other debtors (6,164) (1,561)
--------------------------------- ---------------------------------
Cash generated from operations 327,384 169,202
Interest paid (259) (267)
Interest received 12,936 425
--------------------------------- ---------------------------------
Net cash from operating activities 340,061 169,360
================================= =================================
Cash flows from investing activities
Purchase of tangible assets (1,128) (4,236)
Proceeds from sale of tangible assets 1,476 –
--------------------------------- ---------------------------------
Net cash from/(used in) investing activities 348 (4,236)
================================= =================================
Net increase in cash and cash equivalents 340,409 165,124
Cash and cash equivalents at beginning of year 678,840 513,716
------------------------------------------ ---------------------------------
Cash and cash equivalents at end of year 1,019,249 678,840
========================================== =================================

The notes on pages 15 to 25 form part of these financial statements.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income and expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The entity constitutes a public benefit entity as defined in FRS102.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under FRS 102:

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant estimates or judgements that have been used in the preparation of the accounts.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal or grant.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leashold Property Improvements - 10% straight line
Fixtures and Fittings - 15% straight line
Motor Vehicles - 25% straight line
Equipment - 33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

4. Limited by guarantee

The company is limited by guarantee and the liability of the members is limited to £1, in case of winding up.

5. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations received 301,297 7,431 308,728
Donations received of food, toiletries and houehold items
for those in crisis – 926,923 926,923
Grants
Grants receivable 55,852 122,499 178,351
--------------------------------- ------------------------------------------ ------------------------------------------
357,149 1,056,853 1,414,002
================================= ========================================== ==========================================
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Donations
Donations received 237,507 10,540 248,047
Donations received of food, toiletries and houehold items
for those in crisis – 834,253 834,253
Grants
Grants receivable 5,625 33,360 38,985
--------------------------------- --------------------------------- ------------------------------------------
243,132 878,153 1,121,285
================================= ================================= ==========================================

This year the trustees have estimated the value of the amount of food, toiletries and household items received from donors which they have distributed to those in crisis to be £926,923 (2022: £834,253) the value is based on an average cost per kilogram of parcels distributed.

6. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Bank interest receivable 12,936 12,936 425 425
============================ ============================ ============== ==============

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

7. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Provision of food, toiletries and household items to those
in crisis 30 942,185 942,215
Support costs 143,600 9,014 152,614
--------------------------------- --------------------------------- ------------------------------------------
143,630 951,199 1,094,829
================================= ================================= ==========================================
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Provision of food, toiletries and household items to those
in crisis 1,207 854,011 855,218
Support costs 108,233 25,441 133,674
--------------------------------- --------------------------------- ---------------------------------
109,440 879,452 988,892
================================= ================================= =================================
Expenditure on charitable activities by activity type
Activities
undertaken Total funds Total fund
directly Support costs 2023 2022
£ £ £ £
Provision of food, toiletries and household
items to those in crisis 942,215 136,580 1,078,795 982,747
Governance costs – 16,034 16,034 6,145
--------------------------------- --------------------------------- ------------------------------------------ ---------------------------------
942,215 152,614 1,094,829 988,892
================================= ================================= ========================================== =================================

8. Expenditure on charitable activities by activity type

9. Analysis of support costs

Provision of
food, toiletries
and household
items to those
in crisis Total 2023 Total 2022
£ £ £
Staff costs 76,747 76,747 64,933
Premises 8,200 8,200 8,200
Communications and IT 3,753 3,753 3,190
General office 2,670 2,670 2,838
Governance costs 16,034 16,034 6,145

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

Insurance 1,383 1,383 1,282
Repairs & maintenance 2,612 2,612 3,864
Motor & travel expenses 10,502 10,502 8,406
Other office costs 9,487 9,487 11,488
Contracted assistance 5,032 5,032 4,842
Fundraising costs 2,324 2,324 1,842
Depreciation 13,870 13,870 16,644
--------------------------------- --------------------------------- ---------------------------------
152,614 152,614 133,674
================================= ================================= =================================
10. Net income
Net income is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 13,870 16,644
============================ ============================
11. Auditors remuneration
2023 2022
£ £
Fees payable for the audit of the financial statements 1,890 1,680
======================== ========================

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2023 2022
£ £
Wages and salaries 75,427 52,909
Pension costs 1,320 599
---------------------------- ----------------------------
76,747 53,508
============================ ============================

The average head count of employees during the year was 5 (2022: 5). The average number of full-time equivalent employees during the year is analysed as follows:

2023 2022
No. No.
Number of staff 5 5
============== ==============

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees

No expenses have been reimbursed by the charity to its trustees in either the current or prior year.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

14. Tangible fixed assets

Land and Fixtures and
buildings fittings Motor vehicles Equipment Total
£ £ £ £ £
Cost
At 1 April 2022 47,197 8,784 31,559 16,059 103,599
Additions – – – 1,128 1,128
Disposals – – – (2,182) (2,182)
---------------------------- ------------------------ ---------------------------- ---------------------------- ---------------------------------
At 31 March 2023 47,197 8,784 31,559 15,005 102,545
============================ ======================== ============================ ============================ =================================
Depreciation
At 1 April 2022 38,372 4,730 19,805 11,361 74,268
Charge for the year 4,720 560 5,796 2,794 13,870
Disposals – – – (706) (706)
---------------------------- ------------------------ ---------------------------- ---------------------------- ---------------------------------
At 31 March 2023 43,092 5,290 25,601 13,449 87,432
============================ ======================== ============================ ============================ =================================
Carrying amount
At 31 March 2023 4,105 3,494 5,958 1,556 15,113
============================ ======================== ============================ ============================ =================================
At 31 March 2022 8,825 4,054 11,754 4,698 29,331
============================ ======================== ============================ ============================ =================================
15. Debtors
2023 2022
£ £
Prepayments and accrued income 8,845 2,681
======================== ========================
16. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 4,152 3,906
======================== ========================

17. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,320 (2022: £1,064).

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 April 2022 Income Expenditure Transfers 31 March 2023
£ £ £ £ £
General funds 610,154 370,085 (143,630) (61)
836,548
================================= ================================= ================================= ============== =================================
At At
1 April 2021 Income Expenditure Transfers 31 March 2022
£ £ £ £ £
General funds 478,882 243,557 (109,440) (2,845)
610,154
================================= ================================= ================================= ======================== =================================
Restricted funds
At At
1 April 2022 Income Expenditure Transfers 31 March 2023
£ £ £ £ £
Restricted Funds 96,792 1,056,853 (951,199) 61 202,507
============================ ========================================== ================================= ============== =================================
At At
1 April 2021 Income Expenditure Transfers 31 March 2022
£ £ £ £ £
Restricted Funds 95,246 878,153 (879,452) 2,845 96,792
============================ ================================= ================================= ======================== ============================

- 22 -

Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Analysis of charitable funds (continued)

Restricted funds can be analysed by fund as follows.

Grants and Grants and Depreciation
Brought donations donations on fixed Transfer of Carried
forward received spent assets funds forward
£ £ £ £ £ £
Equipment 2,760
–		 – 764
–		 1,995
Food 74,028
1,054,316		 941,453 –
37		 186,927
Baby items 5,734
–		 514 –
–		 5,220
Frederick Pearson – 2,500 – –
–		 2,500
Carrier bags 793
–		 194 –
–		 599
Walsall MBC 3,187
–		 – 1,125
–		 2,062
Sandwell Council 3,887
37		 1,568 –
(37)		 2,319
Computer 2,620
–		 – 2,418
–		 202
Halo phones 2,182
–		 1,511
–
–		 671
Van Costs 1,412
–		 1,402
–
–		 10
Wages and salaries 189
–		 250 –
61		 -
────────
─────────
───────		 ───────
───────		 ────────
96,792
1,056,853		 946,892
4,307
61		 202,507
════════
═════════
═══════		 ═══════
═══════		 ════════

Equipment

Relates to grants and funds received towards IT equipment which are being utilised over the life of the asset.

Food

Further donations of £1,054,316 were received in the year towards the provision for food for those in crisis. Appropriate costs have been allocated against the fund with the fund balance being carried forward to next year when it will continue to be used.

Baby items

Relates to funds received to specifically fund baby items the remaining balance is to be carried forward to next year where it will continue to be used.

Frederick Pearson

A grant of £2,500 was received in the year from the Charity of Frederick Pearson Fisher to spend on the cost of technology for the recipe bags project.

Carrier bags

Income was received in prior years of £2,000 with appropriate costs being allocated to the fund which will be carried forward to be spent in future periods.

Computer

Grants and donations received are to allow the charity to update and maintain its IT systems. Appropriate costs have been allocated to the fund which will be carried forward and utilised as appropriate in future years.

- 23 -

Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Analysis of charitable funds (continued)

Walsall MBC

A grant was received in prior years from Walsall MBC to fund a new vehicle and its associated running costs. Appropriate costs have been allocated to the fund which will be carried forward to future periods.

Van Running Costs

Grants were received in prior years totalling £4,020 from the Lottery and Heart of England. This money is to be spent on the running costs of the distribution vans. Appropriate costs have been allocated to the fund which will be carried forward to future periods.

Wages and Salaries and Volunteer Expenses

Grants were received in the prior year totalling £7,100 from the Lottery and Heart of England. This money is to be spent on volunteer expenses such as hi-vis jackets and volunteer badges and salary costs. Appropriate costs have been allocated to the fund which will be carried forward to be used in future periods.

Core Expenses

Grants were received in prior years totalling £7,368 from the Lottery and Heart of England. This money is to be spent on core operational expenses such as premises rent. Appropriate costs have been allocated to the fund which will be carried forward to be used in future periods.

19. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 12,442 2,671 15,113
Current assets 828,258 199,836 1,028,094
Creditors less than 1 year (4,152) – (4,152)
--------------------------------- --------------------------------- ------------------------------------------
Net assets 836,548 202,507 1,039,055
================================= ================================= ==========================================
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Tangible fixed assets 22,353 6,978 29,331
Current assets 591,707 89,814 681,521
Creditors less than 1 year (3,906) – (3,906)
--------------------------------- ---------------------------- ---------------------------------
Net assets 610,154 96,792 706,946
================================= ============================ =================================
Analysis of changes in net debt
At
At 1 Apr 2022 Cash flows 31 Mar 2023
£ £ £
Cash at bank and in hand 678,840 340,409 1,019,249
================================= ================================= ==========================================

20. Analysis of changes in net debt

- 24 -

Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688

Black Country Foodbank Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

21. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:
2023 2022
£ £
Not later than 1 year 4,190 3,795
Later than 1 year and not later than 5 years 2,851 679
------------------------ ------------------------
7,041 4,474
======================== ========================

22. Related parties

No transactions with related parties were undertaken during the current or prior period.

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Doc ID: 67866973ea6a2baf658adf387ef476f79ecae688