COMPANY REGISTRAnoN NUMBER: 07198367 CHARrrY REGISTRATION NUMBER: 1141781 Food Redistribution Wales Limlted Company Limited by Guarantee Financial Statements 31 March 2024 CARSTON Chartered accountants & statutory auditor 1 st Floor. Tudor House 16 Cathedral Road Cardiff CF119LJ
Food Redistribution Wales Limited Company Llmlted by Guarantee Financlal Slatements Year ended 31 March 2024 Page Tnjstees, annual report (inrporating the direclofs report) Independent auditorfs report to the member5 15 Statement of finanoal adivities (indudirvJ in(x)me and expendire account) 20 Staternent of financial position 21 Statement of ca8h fiows Notes to the finan(xal slatefflents 23
Food Redistribution Wales Limlted Company Limited by Guarantee Trustees. Annual Report {Incorporatlng the Dlrectorfs Report) Year •ndod 31 March 2024 The trustees. vA)o are also the directors for the purposes of c£Jmpany law. wesent thèir rewrt and tt financial statem6nts of the charity for ts yew ended 31 Marth 2024. R•f•r•nc• and admlnlfjtratlve d•tall• R•gl•lor•d charlty n•m• Food Redlstrtiution Wales Limited Charlty rnglslratlon numb•r 1141781 Company rngl•tr•tlon numb•r 07198367 Prlnclpal offic• and r•gi•t•r•d Unit S5 offl Capltal 8usirnss Part( Parkway Cardiff CF3 2PU Th• tru•ts•• CPny J Békher S Harris SJ Mllbum H vad9& Re8vJn8d 10 Jarw 2024 8•nlor m•n•g•m•nt S Germ8ln- CEO G Molan- Head of OperaUon8 K Padf*ld- He8d of Devekipment S Williams- Finance Manag8r Catston Chartered acccTrts & staiuw auditor 1st Acor, Tudor Houso 18 Cothedr81 Road Cardtff CF119U Audltor Bank•r• The co0pratiVe Bank. 16-17 High Str8eL Cgrdrfl, CFIO 1AX Trlc<los. nery Road. Brlslc4, BS15AS The Charlty Bank.Lknrted. Fosse Hou¥e, 182 High Slre•t
Food Redlstrlbutlon Wales Limited Company Limited by Guarantse Trust•es' Annual Report (Incorporating th• Directorfs Report) Y•ar •ndod 31 March 2024 Tru8tse Slal•m•nt: Thls amual re[ clearly ghlights the vrtxk Ihot FgreSh8ro Cymru ha8 urthrtaken In the kst year lo meet ¢)ur oblecllves and how they Contr119 to sustanatylity. Ow social objectwe is to g8t good surplus food to those in need. alIonnntsl ot¥'8ctiv8 to ensure the food industy has a viabla means to reduce food waste and ¢r etr)nomic ot4'ective is to ensure we opernte a flnanaally viable model offering opportunities for emploYnI and vdunteering. This yearfs rewt Ss particularfy erKouraging as during a difficult y6ar lor many people and contlnuing ch811enges for the food Industry, we have exceeded Iwgots. stsff number8 ar¥J provldwj opporbJnStles for more vdunleers. addrtion, Ihis year V+ have 8lso secured 8 new unit 10 help us ace8ss harder-lo-use surplus food by provldlng Incr88sed chilled and frozen stor8g8. making our whole 0ratIon more aglle and responsiva lo the lood surplus market. (r agilty lo ddiver is dso enhanced by thè dèv8kJFMnenl ol Redistribution Kitchen Wales. mcrt of you can ro8d ab)uL includlng our party8h1p with C8rdiff & Vale College, latsr in the report. As trustees, remain very of t 15 athleved by the staff gnd volunt88rs under a contlnulng diffjA eCL¥MIC and sockgl ctim8t8. We also ore v8ry 9ratsful for the 8UPPOrt from our ftmdors, fwd supplhws arbj community ffc pathers, many of are entIfIed in this report. Please have 8 read of the eas6 sludles and lestlmnials th81 really help bring cmjr Y)rt( to Obl•¢tlv•• •rKI actlvltl•• Our Role F8reShare Cymru belith5 Ihal no gC food 8Uld go to waste. We dI$lblrte surplus good food lo ch8riile$ and communlty group¥ tym rt into meals. Our aim is lo supwl Ihe kxal organisations that feed th060 in nood, Wh51 also provi(Ing an eItcallY. tnvironmentslly, and ewnomi¢81ty sound 801ution lo the food iThJuslry. Our oper8tknal otlectfves fN 2023r24 wern to: Divert 0 lonn6& of surFdu8 food PrOe food ID 225 communlty food mombers thrOugUl the year ConlribLrte towards estimatJ Savings crf £1.3mlllhJn by the third 8Ktor ctrIbute toward5 2.1 mllion mea15 We are Indebted lo the We15h Govemmenl. SBRI. Moondance Foundation. the Waterlco Foundotion and the Landfill Tax DOsp)sals Ccnmuntty Scheme fc their fina01 SUFWt. and lo the iwsinesses and many Indidud8 fc¢ thwr donations, YAIIM)ul wthlch none of Ihis would have been possible. The trustees confirm IW they hove refwred to the Charoty Ccfflml88bn'8 guld8* i)n wblic bengfit when reviewing the than$ aims arKI otyeclivès and in plannlng future Ville$. Fareshare Cymru's focus on tsckling food povety. %wJrking in partnership wllh local ch8rities ond community-based organSsallLWS, has a direct and positive bgnefit fcf many of the most marginali$e(I p8ople in W81es (individuals ar8 homeless, L#wmpbyed. p. Isolated). The charity engages indMduaL% as volunteers in its and this Is oFen lo all memters of the eommunlty. indudir@ the most marglnaliséd. Thls also provides opFh)rbJnities volurrteers and olhers to gain r&collIC, Sncluding accmditalion, for the skills they have acquired while workiThJ wth Fareshare Cymru. In addib'on Ihrough trbe use of Surplus f(xxl we we dung waste and rgdu¢iThJ carbon emissions.
Food Redistributlon Wales Llmlted Company Limiled by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report} (et¥ntkn4 Y•ar ended 31 March 2024 Achlovem•nts and perfornne 2023124 has been a year cl ChIerJ9 times woing than98 aThl devetopmant. th the (x)sl-of-liwro crisis continuJThJ lo affect many people throughout Wales thg Increase in dernand for our Se1 is sllll grovlng. 86% of the thariles and MMuty groups we work with say demand for thelr semces has Increased (K ggnfftanlly inue8sed 8nd 82% say they are seeiThJ people accessirrfJ support for the first limo (Fareshare Annual Impact Survoy 2023-24). We hav6 witinued to s68 the irnpact on the food industy from the war in ukrni.. thg Israel - Hammas w8r.' cost of frJel arKI cri1j ruming costs affecting food businesses. As a result we havo Spent th8 year lmpknents.ng soluticTh tt) hglp us •ccass addbtlonal surplus food. This includès investing in our abillty lo tske harder-lo-use fcods, triallng a Producllon kitchen. and ntinuing to work with businesses via the Slus vAth Purp08e Cymru FL¥)d. As a te$tamenl lo the oryoiry h8ft1 of our team ol volunteers, stsff. and Trustees we were flnalists in the Charfty of the Year categNy at the Welsh Charfty Awards and MInated for th8 Environment Chanpicffi Colegcry al St. Davids Award¥. F¢y¢xl w•dhtrlbut•d t¥>ite the dkqlknw in 2023124 Far8Shar¢ in Wales r8rf18trilxrtgd... 1039 Tonnes offood, ofthic 883 Su[us. ThIB i¥ the equfr48lent of 2.47 m5"on m8 (kganlsauons W• Supwt During 2023- 2024, we Supported 195 org8nwtions In C¥drfl. Nethwl. 8rfdg8nd. Mgrttyr Tydfil, Caerphllly. Rhondda Cynon Taf, aeaU G1, Torfaen. V81? of Glamor9an. Swanseo. Nealh Port Talbot, Monmoulhthre. end Cnarth9nsh1re. In North W81es. our parlners Foreshare Mer5eyshde. gJk¥Orted 67 organisations across An91y, Conwy. Denbighshlre, Flintshire. Gwydd and Wrexham. We Proudly worft a v8rW of Organi)nS that use feod to support thetr communlJe5 In m8ny different ways. E8ch wonderful (yganisatil FWQVKles more than food to tls communities. they pmide vilal support and SolC8 to thè very vwled and needs of Ihe communities, and we arg immensely proud to partner 1Pth eath arKI evwy one ol them. This includes hrynekns hostels arby dential 88$. clubs and o)okwo prowammes, community p8ntries and housing as510110n$. 81oTrJ Mryth fcK#J w-ops, ccffimunity cafes. sup seNces run by rCheS, moswès, s(*S arKI commuThty c•ntres and more. In October 2023 got the koys to ow secotyj waTthou5e sp8ce on the Capital Buslnèss Pth in C8rdTff. This $p8ce wll help us to XCeS5 harder-twse surplus by prov¥Jlng In(¥e8s&J chilled and trozen storage whth was buill at the start of 2024.
Food Redistrlbutlon Wales Limited Company Limited by Guarantee Truslee$' Annual Report (Incorporating the Dlrectorfs Report) (withuthJ Year ended 31 Mah 2024 W8 h8ve also build g ckan rotyn where wll break arxl rep[ bdk gz8 items into smaller packs which are more j1tab for the caritss ilh. We took receipt of a labelllng maehlne k) March 2024 we us8 to relabel items in Lgrge quantlties. As well as this we are planning a scheme ¥thch vlll anable the tharitres wè vK>rf( to 8CC8SS n-food item3 alongside their membership. vthich we could not rc41wt wthout this extra sp8ce. The Redistribub'on Kitchen Wal8s Feasibility Phase ended in June 2023 and we were successful In receiving further funding from the SBRI Cardlff C8Pit81 RegDn Sustainabk8 Producion and Supply of Fcrfjd ChalW 01 £296,000 for a 12amonth Demmstrator Phase from Octobèr 2023. The Redlstrtbutbn Kitcn Wales set abc to wort In partn8rshlp to utilise ting kttchon space in 118 dOwnme. to produce he81thy ar•J nutritious frozen reaty meals m8d8 using surplus focwa. Inthvidual ond l¢>SerWr communmy meals were wc¥Juced arKI a Ihree type5 of pthging were Idalled incI1n9 metal and plaslK containw8 a retum sth¢mo 8nd c(Thpost8bb b8gasse e<>nlalners. From the commencement of the proied in lknbor 2023, three posthon$ ol employment Wgro established induding a Project Manager. Chef, and Ch8f ¢Je Partle. Octobgr 2023 - J8ThJ8ry 2024 locusod on the onboardlng of staff and Workw with Foresharn Cymru stsff and extem•l pathers lo prepare for onset of the m¢#1 produclion lrial from Jonuary 2024. From commencement of meal 8t C8rdlff & va College January 2024. lh8 triol wès F0ft9 lo be SLttessfvl th 3.353 meals d¢lNered through March. Th9$8 irKlividual aThJ community meals supported 21 thaflles and comrnurmty groups. (X ihe 3,353 meols. 4tsJ were wnmunity mèÈls Sonl to MerthyT Vale in 10-seNtng gastro conlainers. This period of me81 produdon was mad8 Fossltle wth 208.5 volunteer hours (Jan9T1. Th8 contaIr relum sc418me began to pkk up wtth 248 Indi¥ldual pl8sIIc 10 gastro contairwJ relwnod durlng IN8 pertod. Several pathrs wore involved in the planning and Irbal ILKIng. C8rdrfl & Vob College.. we used their kttchen space In rts downtlm8 and they wryk•J 411th chefs and profrect team to 8nsure compliarte, sel (MJI ex[10110ns for trla18nd ways of Won9. cc¥nmunuled Aider Colge.. supported jeCt by kyidIng cooklng spaoe. Zero2Flve {C8rdiff metrOlIan University): $upwted vAth writing of SOPSIHACCP; pded ¢hefs wlth tralning on SOPsTrlACCP written: trainèd yoiect team Nutn'¢8lc S0fNre', checked meal kbds.. yovid&d ad hcc advice on labelling. food Safety, etc. Cardrft & Vale Health Dl¢ties.. wepared recip9$ in line the Eatwell Guide aThJ worked with chets to wre recipes were sultsbse larger.sc8 prodOn', cOted RKW Chef Nutrftion Skills for knfe course: assisted In vdunleer reryuitmont. Car(irfr Business School Icardlff University).. sel ¢t project plan for calcukqthng pre polnt at Kl oi trial using tri81 costs,. supported wlh ad hoc Icgistics. Cykhog.. set ¢>rt project plan fc lrfe cycle anatyss of ¢xJntsinafs: rrfov1d ad adYK on containers 8rKI questions arouThJ sustainabilty. Castell Howdl.. generously donated some additicnal food to supplgment the surtAus food for me81 w0du10n Partnefs D8y %fd8 hekl al Cardwt & Vale Cdlege's The Clasvoom rostOUTant in Febru 2024 which almed lo updaté pathers on so lar. tsnk Ihem for th*'r swp)i(8nd to 5wnplo Ihe RKW meals.
Food Redislributlon Wales Llmlted Company Llmited by Guarantee Tru8tees' Annual Report (Incorporallng the Dlrectorfs Report) (conthuA• Year ended 31 March 2024 C$0 Studl•8 & T•8t1m¢I&ts Cast•ll Howell Throughout the course ( the Redistribution Kttchen Waks wliecl, Castell Howell knndty donated ingredients to the value of £2000. Their donation8 alkxtd us to creale a greater variety of meals 8nd ensure that eh of our redpes hit nutritional targets. E¢hvard Morgan. a spokesperson Tepresenb'ng Castell How011 spoka about their involvement in the RKW proje. Wo can éon818 fwl. l Gould empty th8 w8rnIse in ¥ekS and don8to It lo wple. ul¢timoly thal isnl going to s(kn any woblems. Iwl can th to m8k6 some klnd ol dlfferanc8. The kitchen woiect (RKwj... far 4,325 n81$ hove gone out (been dthbut8dJ and l im8ging port$ ofour donatlons hove ljeen in eech olthw meal& So tlwls 40C(i+ serw. wlwch have rgglly helped M6y.. Angh4r•d. A W•A¥haus• Volunt••r We intsDlewed Anar8d 8L)ul exp&kn as 8 w)nIeer a8 part of our VOnIar$ Week Llebralions. Shè said.. "ltr& been volunteering wtth Fweshwe Cymru tr 6 monlhs now. Thg experience hos been Oveh01m1n91YpO&1Ne. Everyone rftolty fri•rnlty, rnady lo help. I love conv.ng here and worklng wilh dlfferent poopk. now lrfendsl Th• w Is physical.. I wi bethnd g desk, by mylgptop all d8y o I really like that 8sp8d of it. I clx)se to sfwt volunt88rfrMJ wlth F8re$hw8 Cymru b8C8US8 of what they do to ty lcrfJdng lo larthm, its so Imixytar f¢rlhe onvron+rnnt.' North Comdty & Dlstrfct Lunch•on Club The Luncheon Club is run solèly by volunteers. opening every Tuesday and Thursday. A throe-course me81 is promded, fu onty £5 per head. Meals utiltse prcJucts provided by Fareshare Cymw and are usualty 18Idy tradthal: vthen we visited, the menu consi51ed crf $et pol810 soup, thKk8n ea888rol8 th mash green beons and banana c4ke 7hith bonanas ond custsrd for desserL The impoGt on Ihe c&mmunFty 1$ ww8lualkn. Dtyothy, run5 the dub. 8xw8sS8d how rèwardlng her rol8 Ss.. • lol of p80pl6 who att•ThY. Tuwday Thwsdays Ihg onty days thoy during tho I0k. If they dnI C¢)rne here, Ihey wouldnl h8ve anne to lalk lo. They nIe harn, they make fr18nds. th8yéat. thgy dine and its so lo• to S66 tM mok• friends and SoriSe." The 8ttènd68s ore of retirement 8ge or cAder arKI commut• to the club using a k)Gal cornmunty funded mini bus. tree of ¢h8rge. The scdalisation for the thbs atteTrJees is so IMptsnt, rt i8 a Ilfeling for them. An expected 40 peo¢ attend eh week, wSth fileIshIpS formed arnl stories shared, the aknosphere is ineompar8tlo. We spoke to of the service users. Maws. At Ihe age of 96. she Is a hKJhly valued membgr of tho luncheon club. She exald how l¢Jnely She felt before finding out at(Jul Ihe club and how hlghty she valLS her frieThJshps withwi the chJb. The food atrNays exolknt #nd Iha company Is well mÈtched. 'Ifs lust as lrnportsnt, the fotrj and ts soc481ization: they rnly each otherf. Partneyshlps & Collabor•tlon Our p8rtnerships have hdped us make an even bigger impact o¢ross Wales. We have conllnued to work wth Fareshare morSede lo delTver Fareshare in North Vlales, incmsing the numter of Charlles that are supported there. We also continued our partnerthp ¥wth University of W81es Trinity Sl. David Carmwthen Campus and set-up a parlnership Uandli-ba5ed organisabon Foothdd Cymntr. lo conlinue to buihd on cu Wesl Wales expoOn. These parlnerships anablad lo to bo d•liv8red to Charthes kn Camarthen. Lne111. and C8rdigan.
Food Redistribution Wales Limited Company Limited by Guarantee Truslees. Annual Roport (Incorporating the Directoes Report) (COnlknufj Year ended 31 March 2024 We worked wlth C8rdrff University sbJdents to research and thte a rq)ort on inLY8asing brand awareness aTrS to prJuC8 a film atKJut Fareshare Cymfu. Wè worf(ed C8rdrfl UrM¥ersty Business Sel1 to create a CommuiNty Focrfj Prw$ion map of South East and South Central Wales vthich detsiL8 our chanty memters. Trussell Trust F(j Banks. ar olhér food projects wNch arenl Fareshare Cymru members to skni wher8 there are gaps in ovision. This went INe in February 2024 will feed Into our plan around ensuring surplus focQ has the m0MUM social impact. The Wlld Water Gmup knndly ccmtinued to pwde 24 pallet sws tr86 of charge. which we COLld use to store our frozen food IJu¢r$. This enabled us to atxept moro fr028n food which mwt we coukl Incr88se the quanlty and variety of frozen focrfl we Provided to our charity members. We ore acty've memters of groups induding W8183 Antl-Pov8ty Co81. Cross-P8ty Group on Povety. Clim8te Cymru. Food Cardtff. Caftliff Ft)d Povety Worktrffj Group. Cardiff Community Food Colk8cllve, Foc4J Vale Nelwork. FD)d Vale Steerin9 Grow. Vale Food Poverty Working Group. Uantsl Major Food Access Fknlect, RCT Food Sleering Group. Toen Sustsin8blè Fcttl Plo¢e$ St8erlng Group, Merthyr Food Prospwty Nefy¥ork. Swarffjea Food P0rty Nelwork, Bwyd Abertgwe St6èdng Group, Carmarthenshlre Food NetDrf(. end Cawphilly Food NelwDrt(. We also participate in Food Ink W•los Sustainability Cluster oTrJ in 2023-24 we 5pre8d the ¥wrd akxiul vthat we do 8t Hortlculture Cluster. As wdl as this V• 8ttended the Roy81 Wèlsh Show, Ta8te W818s, Castell Howell Trade Show, and Harlèeh Fc& S¢8$ Shtrw. Al FareSh8re Cymru hosted an the F8r8Shar8 UK Nglmtyk Volunteer awards and A loknt Christrnas event for volunteers and staff. We hdd an ¢)nllne sasslon for Walos Clim81e Wegk and hosted an Inyr¥on workshop 8t our wpnhou88. Local Food Sourclng In 2023.24, we Successf partnered Some #mozino food supph'eT8 in addition io maintsining our existing partners. all provkllng a variety of sUlUS fc•)d to wr CFMS. Th6 nèed for more surplus fcthl and obtsning w food partners ha5 bthn as our services arg incxeaslngw In demand. Wrth our current a4 new p8rtnorships. Ihis has 8lkn%d u8 to conbnue to lum an envlrc)m8ntd198u8 Into a 8ohth. In the past y88r, we have been pleased lo work new fcod partners induding Just Love Company. eroces Bakery and Prinees Gale. In 8ddllion to lttal relath)nshlps. more engagement wth local I tional parthers including 2 Sistsrs Food Group. Fins Food Group, aTrJ Bwkers enabled us to access more surplus foLwJ. As it Is drfficjjll lo access k)Tr3 ITfe 8mknenl surplus 81 time5. Ihe need for Pwmanent Colleclion Points (PCP) is essential. We have recently p8thered ICC Wales wthere all non-perishable items naled from staff arKI visitors are r&JistritMJled lo our CFMS. SulUs wlth Purpose Cymru Fareshore Cymru wcyjkl like to Sirerety Ihank and extend our gr8tlttKJe to the Welsh Govemmenl for funding the Surpluswth Purpose CnIU scheme. which has alk)W Welsh food businesses to donate Ihelr surplu8 lo us wilhoul incurring addithy1 costs. A total of £32.700 of furKling was us•J for We15h food partners uThJer the scheme lo cover thelr packaging. addtbcThil lakour. labelling, and tran5POrtation c&)sts. dejition to covering opernlp)rl costs, the Surplus *ryth PLwpose c1 furyl was utih5e¢l lo promot8
Food Redistributlon Wales Limlted
Company Limitod by Guarantee
Tru$tws' Annual Report (Incorporatlng the Dlrectorfs Report) {c4¥thwts)
Y•ar onded 31 March 2024
ond 8dvertis8 the scheme thrcwh varbS channels. Thi5 printing leafiets and fyers in Wglsh
and English for distribution 8t events that were attended In 2023-24 including the Royal Welsh Show.
Taste Wales. 4TheRegion Green Economy Conferencè. HarWI Trade Show. and Castell Howell
Trade Show. The scheme vras also a(fverllsed in magazin8s as Faming Wales. T8Ste B18S,
North Wales M8g8ane 8nd through wul#r s¥81 media campalgns. including Linkedln.
Fre8 8dv•rtising fund was also athieved last ye8r ty bèing fegtur&Y n ZER02FIVE's monthty
newsletter. as well as in the Suslainability. Hortlcullure. and North Wal68 FI)( and Drink ¢lustsr
n8wsf¢tteT¥. reachng 811 Welsh fo(xl IJuginoss8s across Wales.
A heartlelt tha{ you lo Four Cymru for théir continued SUFPOrt of Fare5hare Cymru. They fxealed
fjh de0 asset lo promote the Surplus ilh pUoSe Fwd across the Fd and Drink Wales sod81
madia channels and have helped us gain coverage on BBC Wale$ news. C8. and Radlo Cymru. In
addiiion, IW supported in advwtislng ts fuThJ 8rKI hyhlighling the n88d for more food lo meet
demand through regiond onlina press rel&gses. Induding SoLrth Wales Argus, 8u5ine5s News W8les.
Wales Farmer. BuslMs8 Llv•, South W8les Gutsi. arKI Herald Wd86
C<>mmunlty Food Al•mlJ•rs
At the start of 2023124 made the drfflcult doclslon to IMplemt food reductlons to all of our thaTIty
members on 8and 3 - Band fo meMhIp8. This was du8 to a sharp decreaso in ambient lood al
the and of the premous ye8r and F)roiections from Fareshare UK that tyPOS V*fjuld bg Ghanging
vAth an inGreose in bulk s128 afKI unl8belled items, which coukl onty be used by chartN8s running
cc
Food Redlstrlbution Wales Limited Company Limited by Guarantee Trust•os' Annual Report (Incorporating the Direthrfs Report) (cOnth&) Y•ar •nd•d 31 March 2024 Blaen-y.Maes Lwn Cenlre . Panteg Ernployees Club . Fabric Foundatiw . Tav8 Centre Cardiff . Porth¢a% Ccrfnmunty Panty C11nfell Weffare Hall . Giwach Gcth C¢ynmunty A$sl8t)n . Fir Tree Community Associathjn Swansea Community Fami . Safer Wales . Duffryn Community Link Duffryn Communty Centre . Arts F&tory . 8ryncethin Community Centre IBaobab} . Brackla Prmary Schcol . Si. Gwladys. Churth Hall . Merthyr Tydfil Institute for the Blind IMTIBI . Sketty Foc Bank . Youth Centre Cefn Hengoed . Ilver Church Woks . Fairnvatw Pr¥7wry &hool Famify Action FOOD Club . Cwmbran Centr8 For Young Pacple ICCYPI ACE Panty . Spkstt Community Volunleets . L18nrumney Hall Ccrfrmunty Tnt . Crtch Angels Abergavenny ' BethI8M Church Communty Group . GoudY Communty Fridge . Pilh3wenlty Millennium Trust Ltd . RCT Heart Heroes RCCG Vineyard Chapel Al-manar . AJ-Ikhkg8 Centre . Bethel Trust Port Talbot . Gamsychan Pwtnership . Eastside Focd Bank . TKS and Community Group . Th Pantry YCB . Canoffan Maerdy Cafe Tyfu - Bafod . Centre for Afrtan Entrepreneurshp . sSAG IVJnen Seeking Sanciuary A(fvocacy Group) KPC YoLrth & C¢)rMiunty IBthbl . Trin1 Primary Schts)l . Matthews House . Cefn Cribwr Communty Panty . Ogmore va Primary Scho)l . How Chufch Merthyr ' Sharon Full Gospel Church . FL Cy¢b - Nffip)rt Vlntyard Church Carfiff . Hope St Mellon8 Pantry ICIOI . UK 18L9M MIOn 11 care Fthid Prc4ect . Community Vc4unlgers Wale8 . Hangar Communlly Hub CIC . YSO Gynradd Uandeib Primary Schcol . Treorchy Primary S¢hool 8BB C¥v1nffIo8r Primary Scho)l BBB . Fo¢vJshare Llgnlwrt (Gbmorgan Voluntary Service$l . Sithowy Valley Hub CIC (Catering) . Barc Communty Outreach CenlTe . T8mac Baplot ChurGh . Cenlral Primary School 88B . Cefn Fforest Primary SclKd BBB . St Jthns Day SèNU . VKtory Gr¢xery St(xe . RalnlxyN Cafe FOOD Club .M8inde6 Primary Schocl . Fellnfool F•nlty Centre L6ke many across Ihe UK, our mtS wo nifKnty Irnp8Cted by ojrrgnt cost of Ilving crlsls, 1&8ding lo the longest wtsn9 list have evar 8XFori8nced. Thls is refiected througfv)ul w nats¥0. 82% of our members s88ing new IndwKluals o¢c0$9rffJ support for thè flTsI lime. The Var of food 8voilable to us has c8rwd dramallcalty over Ihg Pgyt 12 months, affeclKvJ our alIty lo support certaln rnembe ond groups. This shift is evident in our curront efforts and pL9ns for lh8 coming yoar. Its an •xelOng change, that Mmes wilh rts own ¢h811ong8s. Desple food hwurlty In Wales. on impressive 72% of our members fep)rtwJ that Fareshare Cymru's food enat4ed them to suppyt a greater number of people. Fareshare Cymru he membgrs Pde m¢)re than just fc¥)d', an 88toundlng of our memb8r$ assist th058 who receive our food in BsSIrj addttional supwt and s8Jvic8$ for othèr Issue8. We ere very thankful for evgNhing rornive from you 8s rf hpS sc mgny people. We we happy to ovth support that 19ssgns the strain fOlS and indMdu8ts. Our customers wouldny have access to fresh fruit, vylgbles, and m8at wcluct3 as it's mplY 8xpenth for us to purchase as Volunlgvln9 In 2&24. 133 people voluntetred Twith us. gfvh3 ovw 13.9 thwsarKI htyjrs of their ttme. Most were regulody vdunteering in thè depot, induding delivery drivers. delivery assistants and warehoijse assistants. Sevwal more volunleets supported us translatKffi. mathetirrfj resewth along our mwketing entl communications acernent studenL A twe sh¢yJt out. as ahvays, is due to our ¥VlUntee for their amaang In limes of 1ctualIng fwd levels. They are massively supp(wbve and flexibfe. quite 1Fteral wing that extra mile to get good fc¥)d out lo Ilv)se in red. We were runners up in the Cardrrt Vobjnteer Awards 2023 for volunteer group of the ye8r and the Volunteerlng Lead was deljghted lo accept the Faroshare V0Jnteer Manager of the year awwd (M) b8h0 of ts work of the volunteW5.
Food Redistrlbution Wales Limited Company Llmlt•d by Guarantee Trustses. Annual Report (Incorporatlng the Directorfs Reportl (ethrfknu• Year •nded 31 March 2024 We galned Investing in Volunteers acereditation for the first time. a major piece of work wtwch will help shap& the fubjre of Yunrkn9 8t Fareshwe CyTnru, thls (>Id nol have been 98ird wlthout the SUFPOrt and inwt from our vc4unl8er team. We have d¢wblgd OLf corporate vdunteerfng rKovisi¢)n. offeriw le days on days 8 ek with some great uptske. We 31 corporate volunteer doys yth 133 empkryyees having a volunteerin9 experience with us. Each of these corporate volunteers becomes an advocole for our work and our story across Wales and beyt%YJ. IVS been a challen9ing year, bul very re¥Yardlng, we have taken on new premlsés and new prqects, i)ur volunteers haN been w proacty ¥1 MWNJ fopward wlh us. they are 8m8zing. F(mdral$lng Slnce January 2024 have been wothing ¢)n a furKlrakswvJ strategy wlh the aim of developlng variety of Incomè Opti¢y. TruStslFouTrJatSoGrants - Funding applICanS hav6 be submitted to a number of Trusts 8nd Foundatlon orgonis8lions applykng for eiiher Support or more tem multi-year financial Investrnenl 10 5UPPOrt Fareshare Cymru 85 V davelop our second warehouse. Thbs work18 on9olng 8s lunding albc8b.on rounds we 5tagg8rad Ihroughoul th8 year. Corpor8te5 . W8 are develwng 8 strategy to apkyoad) muhijlg Comp185 In¥lj ttm to support r worf( fo¢using factors.. 1) Thg impact they 11 have local communty. 2) The posllive impact they wll have on thè enVWrn8nl by hlghlKJhUng em18S saving. 31 How it will help them de¥( their CSPJESG ca)mmlthient 88 Ihis will imp8Ct mary companles In the comlng years. IndiV7du vIng - Setting w a volunteer led byoup to thlop lundr8lsin9 enciyjraglng bolh Incorne generation and volunteer recnth8nl Imp•ct and Vu• We conldbutsd lo the rdief of povèty. the athancemènt of publ aducation arKI kn the conservat1. prolectlon and impn)vemenl olthe physic and natural ènvironment by... Re(8trlbutlng 858 tonn of food of blthlch 824.9 was surplu$ Prov*Ylng 1.9 million mea15 to vulngrable peOe Supwbng 268 charltles and community cwgani58ns S8ving 2186.5 lorTh$ of C02 emi5sNJn5 133 vOnteerS gave 13,973 hours of Iheir tlme
Food Redlstrlbution Wales Llmited Company Limited by Guarantee Trust•es' Annual Report (Incorporating the Dlrectofs Report) f¢othuod) Y•ar •nd•d 31 Mah 2024 Flnanclal rnvlew Revlaw off the financlalpoth •t th• fjrtl of tho a¢coundngpwlod Total InccTh during the year Yas £1.293.66212023: £1.242,135). Totsl exp8NJilure amounted to £924,084 12023.. £818.8311. deplatl char985 of &84,958 is Indudgd within Ihk8 figurn. Overall the charity made a surplu8 of£369.578 nSIStIng ofan unro8tr1¢ $pIuS of £299,401 and restricted 5urplu5 of £70.177. R•serves PDlky The Bo8rd has a target kM)Iky ol rntsining at bast six to 1ve nw)nths of ordinary ongoing expenditure. Six lo hvefve monlhs of njnning costs enable tho chwlty lo function. and st8ff lo draw salarfes, for a period comménsural6 ttir notbce period and wwld alkwi the charfty to ensurn al donal1c5 dwritsble fvnds have been delivered to Ihg reGlent Projects. At the yew end unrostricw r8sorv•8 were £2,CQ1.068 12023.. £1.781,667). of whh de$ign•t•d re8erve8 arrrt)unled to £1,120,83612023.' £814.5751 re8uth.ng in general funds Of £960.23212023.' £967,092) Reslrpxed reseryes affounteil to £312.23412023.' £242,057). The level of free r0e3 avallablè was £960.23212023.' £W.092). Rls m•n•g•mwt Fareshare h8s a risk m#ftagemenl strategy that centres on mairrtainlNJ 8 sk reglster. The inili81 identification and osse5smenl of risks Is done by the Management and th8 Bowd of Trustees. The tnjstees revlew the rtsk wlsler crfi 8 regUr trA&'s: they C4)ns fv)w Ihe rfsks Intwact and wthore lo prioritise mitigating act0$. Th8 maln c8189odes of rfsk can be Bwent6d into Iho fC1h)rwJ m8ln areas.. Food $8fety- Food redstrlbutlon 13 Ihe essence of we do. Food safety, Its tr8C88bllty 8nd ov8rall handling 8r8 01 Ihe eore of both our mlssion and our repulalion. Mitigation.. Our polide$ and prcudures enable us to mèintsin Ihe higlwsl standards as any Lqpses would uttlmatety ¢x>rnpromise our pos1t1( of tsust arKI expert authority wilhin the focrfJ induslry. Loss of key steff - FareShar• Cymw hgs 8 sm811 stsff18am and the loss of arry key YMlivKJual vKuld bg 6lgnific8nl. Mltiggtlon: We en$we that all Staff vAe ale to rAJVgr 8 vwiety of tssks. PutiirrfJ a SLKcessK>n plan in place. Setyjring surplus fr1 - We rety primtrily on F8reShare UK for our suppty of food. Th08e supplies of food are potenllally vulnerabb to commercbal comp8ttllon as 11 os 8ltem8tive uses such as eroblc dlgestion and animal Iwl. mitigati(.. We have retxuited 8 Food Sourcing Cov0rdina 8nd wortE dosety wth Fareshare UK to Teduco baThle to 8cW'r•3 food. Income generation - A larye prowton of our inrnmg is from grants. muth of ¥thlch is 5hort-tem. The trustees regujarfy rev7ew forecasts lo ensure we arg alle to adjust our 8xp8n(ture to deal with changes in projected reverK. MilKdalion: We aim lo Increase our Fwrticb of ewned incDme over lkne as can be seen with the irK¥ease in membership fe8s. This Is also addressed by our tar98t reserves policy of aimir¥J to cover six lo tsvdve mcffllhs of ordinary ongcing expenditure. 0paraOnS . F¥eShare CyThru cyerates a Ixw warehouse ith pot8ntlalty hazardous equipment such as forklrft tswcs aNI vralkth ffidges ar¥J a freezw. We have bolh ¢)ffic&based employees as well 10
Food Redlstrlbution Wales Limited Company Llmited by Guarantee Truslees. Annual Report {Incorporatlng the Directorfs Report) i•0) Year ended 31 March 2024 as exlemal vonteerS ccmning to at wr siles. MthgatK)n.. We mantsin an up-l048te health and safety manual and ansure cxMsisl¢nt mmuntion IhrLxJgh tralnlry ¥KI NxkKtion progrwnmes. addition to Ihis, wo have carried t di$aY screén eqpment audits for 811 employee8 and coTrJuct8d a risk as5essrnenl for k>n8 YeT5 in the depot. yrkIJ from me and travelling on wo$ business. Ex11ng risk asses%nents hove been rewthd and updated. A fire risk assessment has been carried out with qth)te6 beiry sought for remedi acknn. PJ•n• for fthur• p•Aod• Next year our alm to conlnue to supix)rt JaniSatlns that support those in nead. whll$l proMding an 8thally, environmentalPy. and éconwbKalty sourn1501utKsn lo the food Industy. Ow opgr8tknal oblthes for 2024r25 are to: Div¢rt 1090 tn85 ol surplus food 1hroUt Wales Promde food lo 260 Community F¢xé Members throughout Wares Contribut6 towards estimated savings d £1.386.CQO by tt19 Thlrd Se Conlrftrth lowards 1.187,010 meal$ In response lo increaslng demond and our rwd to be abte to handl8 8 wwjor variety of food In our ngw warnhousé w• %4111'. Set-up Fareshare Plus be an addryon fty CFMS to xc888 ro).foc4J items and addilKJn81 fcod Ilne with momLvship fea pri(xng. SetP a clean room ond labelling m¥hTh to break bulk items and re-Lgbel unlabelled stock. We 11 a180 set up an employailllty prw8mm•, finl8h th8 Rodistribulion Kitchen Walès trial and IrAk at the conth'nuation of Ihis. expark1 wr wmmunlty food mspping. tegln wort( updatiw our soc481 and enmrortmgntal Impact. 11
Food Redistribution Wales Llmlted Company Limited by Guaranteo Trustees, Annual Report (Incorporating the Diroctorfs Report) Year ended 31 March 2024 SlructUrn• governonc• mwn•g•nV4DI Govemlng document and Consfflutton F8reSh8re CYMN Is the trading n8me of Focrfj RedIstril0n Wales Ltd. 11 L8 a tharitable company limited by guarantee Ino. 071983671 and registered ¥Mth the CharTty Commission as a charity in England and Wales {no.11417811. Faréshare Cymru was irrpOrated in 2010 and is govemed by its MemorarKlum ar¥J Arth of As¥oa8tson 8dr•ted on 22rKI March 2010. We began opw8tics in July 2011. Obi8¢ts Fashare CymnJ'8 charity's objects I"Objects') are speaficaNy restricted lo th8 followng.. a. th8 rellel of poverty and the presery8tion 8ThJ prcrfnotion of good nutritson, he81th and social improvement among P6fFAe who are suffering from sla1. econom cw emotional distross Sn such vrdys as the DeCtOrS may in thew absolutè dbscretknn think ffil but particujarty through: the OSItion and redislribub.on of suWus foc4J; and 11. the encour8gemenl of members of the public lo undertake vduntsry %wrk., b. the advancement of put41¢ edtiOn In partioJL9r bul not exchJ5Nety by providlng Ireinlng In th8 volunlary sed c. the fttrther8ro. for thg bèn8fft of the publ, of Ihe conserVan. protection 8nd Improvement of and natural ronment thrwh the redu¢tion of waste (ln partlar food waste) arKI its aoNrferse enwronmontal Mnpxts. RKrnltm8nl and •ppolntm•nt ol tws¢••s The Trust$. %tho arè also direct¢)rs and members of the Qharitsble ¢ompany. are Ilsted on pBge 8. Eath ye8r, onethird of the trleeS retire from offKe tArt may stand for r94actm acccrfdlng to the procedurns Sel out kn the Memor8ndum Artic5 of Ass(allOn al the next Annual Goner81 Meeting. Trustees arg recruSled with a rory0 ol skills and expenence that Is needed best to ensure sound govemance 8ThJ strong progr8ss towards Ihe tharity's missK)n 0j aims. N8wty apw)inled Isle8S receive an an inductK)n that includ8$ making them aware of their legal responsibili088 83 well 8$ FarÈSh8re Cymru's poles, decision mokirvJ process68. slralegk F4an and rent financial performar. AM Irusle•s gNe th8lr me voluntarfty ar receNe no benefits from Iho chwty. Any expenses recLqSmed tho th•rity ars sèt out In nots 10 to the ao))unts. Ory•nls•elon The Tnjstees tOther constitute Ihe Bosrd Ihat bs Far•Share Cymru's gOTrng toty. Th8 Trustees approve the strategic an and 8nnual budgets ol the chanty as well as oversee poliw. They a180 provide Ovèrsi11 on mattets of finarKe arKI audit. iisk and long-term Sustain8lIty. The st8ff team, 18d by the CEO. is responsbki for Menting thg strattyy and progressing towards agreed key aims and obi8ctThYs. Staff p•ypolky Our approach lo staff pay is designed lo ensure that we can attract and retsin rUltirj high-callbre Peop to represent its inteSts. We afso bdieve in rewardirJ stsff falrly for1he lobs tho1 th¢y do and fostering 8 po$Ve worting ¥ll0nMent. gnd we befieve s81ari8s and our terms and conditions ect Ihi5. PpIe are emFAoyed al Fareshare Cymru on the bags of the specific skims that they tng lo their parbcular role. For Fareshare CyTrru lo nJn su¢xessfulty. a rarvJe of skills and disciplines are required. and ne&J to P8y appropriately to ensure that V+* can wrult people Ihe right skn11s. 12
Food Redistributlon Wales Llmtted Company Llmlted by Guarantso Trustees, Annual Reporl Ilncorporating the Directrfs Report) (¢fyrytbw•S Year ended 31 March 2024 We also n lo retain thtm in a o)MtIve market vth8rè their s11$ are readily transferable lo other cYganisalK)ns both in vi4untary sedDr 8nd in other seacys. Far8Shar8 Cymru firmty beIVe8 in trylng to retsin stsff for the I4•MI. developNu th8m and benefftkng from tt1r growkng knrvM&Jqe. The lowest of pay i% thays al least Ihe lfving wage sat by the knvlng WwJe Fwndatlon ond tskes into cOUnt the rato ol InftatK)n arKI 0ryani8a1n affordablllty. Annu CreaSe$ are subject to approval by the Bowd ofTrust8aS. Faresh•re UK Fartrshare Cymw Is pèrt of the Fashare UK netth. Thi5 means that have adopted thè F8reShare UK food safety manu81 aThJ ils HACCP poly Fyocedures. We use the F8reSh8re UK Gladys Online Management Sy3tem to m(rd and OLi1gj food as as the online system for Volunt8er M8naoement arKJ Crynmunty Focd Membtr Management In addition wo ag to fdlow Ihelr brnnding lin¢s. Fundralslng 4ppm•¢h Thls year our Income cam• frtyn membgrship l•os, govomrnent, trt and frAJrd8tk)ng. ¢cporale parthérs and Indlvlduals. We are gratèftd to every SUFPr and for every gfft receive. All wr fvwKlrai&ng 18 manag¢d by slaff vduntow& Th8 afNNJnt ol money Ihht w8 rgLqe Ircrfn iThJNklual$ is smal118ss Ihan l%1. We do rY)t onwoy ony prof81 fundrèisirwJ cwganlkns faN0d no o)mplaint8 about our ndrakn9 PTacllLX or 4ctMUe8 In 202>24. TruAt•••' r••pon•lbllltkn ¥tt•m•nt The tru3t885. whc& are also dkertors for Ihe puoS ol cffiiwy law. we responslble ts prepadng thg Iwstee8' reFJrt arKI th& fm8ncial ststsm8nts kn 8ccldance wrth appluble L4w Unit8d Kingdom Accounting Si8ThJ¥d6 Iunited Kirodom Gan8raUy Attwgd AntIng Pra¢fjel. Company law rnquire8 the drrty truslees to proparn flnanc4al 8tal•m8nts for each year which giv8 a Iw8 and tsir view of th¢ 81810 of affairs ol tharilable cLwnpany aThJ Iho irming r980urcg8 8nd pplution ol resour$, indudin9 the Irthme expeThJllur¥, fLY thot period. In pwp8ring these fm4nri81 Stslements. t truste96 are requwed lo.. sd¢cl 5uitat4• actnI0)g Pla&S and thgn apply them (lSten.. 0ts8rve thg m¢thodB and prfndples In the apab Chariti•s SORP: mak9lu(SJm•nts and accwnting 0stirT*$ that ar• rw80tb19 and prud1.. $talo whether appli¢oL4e UK ACUntiryJ Stsndards have been folltrwed, Sutyt lo any malerial departurgs disd(wJ and explaIr In the statnts: . prepare the financial Statem¢8 gory baw"$ unl¥ rt ig irwpriata to presume that the ¢h8rity 11 rthbnu8 in bu$. 13
Food Redlstrlbution Wales Limited Company Llmlled by Guarantee Trustees. Annual Report Ilncorporating the Directors Roport) (( Year 8nded 31 March 2024 The trusteeB arB r6spwsOtAe keeplng adequate acCjn9 rrdS ihat arg sufficl•nt lo sh¢w and explain the ch8rilrfs transacbons and disclose wilh reasonatlg accur&y 8t any time the financ4al positknn of the ch8TJty and enatde Irn to ensure thai the flnandal statements comply vAth the Compant6s Act 2(Th. They are s0 respx5ilAe for saleguardlng the ass8ts of the charrty and honce for tsking reasonable St for th& WeVent and detect of fraud and olhgr irngdaril Audlt Each of lh8 p•rsons i8 a ISta0 at t dale of appr(N81 of tr1$ confirms thBt 80 fai as thay ¥e t, Ihwt $ no relevant infcrnlkin of Ihe thaws auditor18 ungwaie., and they hav8 takgn st9P5 that they ought havo thkèn as a trustao to kO thern88fv6s aware of gny relevanl audlt to that the chaws alor 1$ 8ware cl that InformHtiocL Th8 awlRor18 doomod to havo b••n rwolntad kn accord(¥ vAh 487 of the Cornpanie8 Act 2006. Small ¢omp•ny pr•vl•lon• This rgFQrt ho$ beon prepared kn 8ccordanc wilh th8 Fovisions aF¢'caNe to e4)mpanl88 entit1j to th• smal companth exernpti. The Iruste88' annual rgwt W8$ 8Fvroved on i s lot/ 2024 8nd n0 on behBW ol thts bogrd tItrLL8tsas by.. Trustee... 14
Food Redistrlbution Wales Limited
Company Limited by Guarantee
Ind•pondent Audltorfs Report to the Members of Food Redlstrlbutlon Wales
Llmfted
Year ended 31 March 2024
Opinlon
We havg audlled the finanaal ststements of Focxl Rethstrlbuth)n Wales Limite(l {Ihe 'ch8rity'1 for the
year end8d 31 March 2024 %thich Gomprise ststement of ffinancl octiw'ties linduding income and
èxpenditure accounll. ststement of financial posib"cm, statement of Gash flows and the related notes.
Incmjding a 3ummary of signrfinI (x)untir0 Fdicie5. The financial reporting framework that has
been aryld In their weparation is applicable law and Unrte(l Kingdom Actirj St8ndards.
kncluding FRS 102 The Fin8ndal Rèpwting Stsndord applicable In the UK and R8publlc of Iraland
(Uniled Kingdom Generalty Att8Pted Accwnlwig Pi8ctica).
In our oFlnlon th fln#Thi81 slatements..
gNe a true and falr vW of Ihe $te of the affairs as at 31 March 2024 and of Its
hcomha resources and applThtion of resour¢8s. irKludir¥J ils incom8 and exp8ndibJre, for the
y8w In ended..
have teen proth wvpwod In acc
Food R•distributlon Wales Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Food Redistrlbutlon Wales Llmlted Year erKled 31 March 2024 Oth•r Snfomi•tk4n Th8 olhar inlorniation comFffises Ihe infomialion irtluded in the ReFOrt of the Trustees, other than the finan¢io1 statemenls arbd our Rewt of the Indeperthnl AWJit0 trr¢On. The trustees are responsible for the other infrymation containèd kn tho Rew1 of the Trustees. OJr opinion on the financial ststem8nls does 1 cover the other infc¥mation and, except to the extent othernise explicNly slatod in our rem, we th not express any lorm of assurancé condu&on there. Our re5ponsibiknty is to re8d the other infom)alK)n and. In dolng so. wisider thè other Informaty'on bs rnaierially inconslstenl with the finanaal slatemants or knowledge obtainèd In the audit or oth8nYlse 8ppear5 to be m8twially misslated. 11 idenlify such malerlal inconsistencies or apparent material misstatéments. are required to delemiin8 ether there Is 8 materi81 misstalemenl in the finanual statements thamselves. Ir, based on the rirk have perfoffted. we COUde that there Is a maten'81 missl8temwl of thi$ ouw informallon. V• ara requirwj to rèport that fact. We have nolhlng to report In Ihls rngard. Oplnlon• on othw matt•rs pr•scrlb•d by th• Compan1•• Act 2006 In our opnion, based on the w)rk undertaken in the course ol tha audit.. Ihe inl¢ym8tlon gfven In the Iruslees, report for the financial ygar for vlch Ihe financi81 ststemenls are Pfepared Is ¢($1$19n1 th thg finarval stst8ments.' 8nd Ihe trustees. rnFQrt has b88n rnpared In ac£a)nlance ith applic8ble b8gal re(wlrements. M•tt•r• on Vthlch w• •v• r•qulrnd to r•port by •xG•ptlon In the light of the knovAedge and urthrstandlng of the chwtty and it5 enVmment obtslned In th course of the 8udS1. we have nol Klentified material misstatements In the Irustees, rep(xl. We have nothing lo report in respect d Ihe fotlcNAng matter8 In relallon to 4thich thè Companles Acl 2006 requlres us lo rewt to ytw rf. in our opinion: adequalg accounbng regxd5 have Mt been kepL or relums •Jequate ft>r our audil h8vo not been recewed from breheS r1 ¥isri8d by us: LY fin#ndal statements arn nol in agreement wlth the wxounling rrdS and rntums.. or certain disdosuros d trustees, remunerntion specrfvj by law S not made; or we have not recelved al the Infomiation 8TrJ expnOn$ wuire for our aLKIIL the trustees were not entitled lo prepare the financlal ststements in 8CLordan¢e wlh the small Compan regime orKI take ajvantage of the small comp8nles' exemptions in preparing Ihe directors, report and from the rgquiremenl to prepare 8 strategic reFNt. 16
Food Redlstributlon Wales Limited Company Livnited by Guarantee Independent Audltor's Report to the Members of Food Redlstribution Wales Limfted Year ended 31 March 2024 Re•ponslbllltI of tru•t••s As explalned nv)re fulty in the Statement of Tntss. Rgsponsibililies. the trustses Ivtho arè also tha directors of the charlt8b company for the purposes of compary law) are responsible for the preparation of the fin8naal Statements and I( boing $8lisfied that they gfve a true and fair wew. ond for such intemal control as the trustses determin is necessary to enable the preparation of finonclal ststements that are free from material misstalement. thor due lo fraud cr emr. In prepadng ts financLg1 $latw)7gnts, the tnjstees are r88pMslblo assessing the charttatlo company's ability lo continue as a goirwJ corem. disdoslng, 8S applble, metters TeL9ted to going cO8M and usirwJ the golng concem basis of acLounting unkns the Irustses elthgr intend lo Itdate the ch8rit8ble company or to aSe Operaon$. or have rK) reali5tr attam8tivo lyjt to do so. Audltof rnpon•lblllllM for th• •wllt of th• flnancl•l •t•l•rn•nl• C1 objectfv8s are lo obtain reasonable asswance 8tKArt vhthér Ihe p8renl charty ftn8nd81 ststemenls 8s a whole are free from m81erial misstolemenl, bth8ther due lo fraud or error. and to issue Réport of the Independenl Audrtors that indudes our opinn. Reasonable asSur8r is a high level of assur8nce, bul is nol g guarantee that an 8Jit conduclad in xc0rdaO wlh ISAS {UK} wll always detect a material mtsslalemenl then It 6Xi5ts. Misstatements can arise from fraud or orror and arg corldered mal¢rio1 if. Sndlvldualty or in the ggThiale, th6y re8sonabty be expeGted lo inlluence the economic dwsbns of users tsken on the basls of Ihase fingnoal stalem6nts. Irregularities, Indudlng fraud. are Instar3 of non40M'8nC8 laws regLlotion8. We identified and 8sse8sod the risks ol material mlsstalomenl of the finand81 slalements from irregulartllos. whether due lo fraud or error, and drscussed these boil1 our audtt team mambgrs. We Ihen designed #nd perfomied audit procedures responsive lo those risks. In¢ludlng oaInSTr9 audlt evidenco suffirienl and approrKi#te to a b8sffj our opinion. We design our prc¢8dure$ $0 as to obtaln suffKOent 8ppropriat8 audrt gvSd•nce that the finanei41 statements 8re not m8l¢rially misstated due to non<omKAiance with taws and regulations or due to fraud or error. We are not resp¢N lor prewrting Th)n-companCé 8fKI cannot b• 6xp&¢tod to detect non-mplIanCO wtth 8M law8 8ThJ regulallons - trus resFwslblllty lkn knith management wlth the over51ght of the Trustees. Bosed on our understsndlng of ttre charlty and thè chgrity sector, drscussSons %lh manag&meni and Iwsl985 we Identified finanri81 rew)rlrKd stsndards. Charitie5 Act 2011 and Companies Act 2006 as ha9 a dlrect effgGt on thg amffits disdosures In the fin8nri91 Ststwlnts. AJ part of the engagement team diScUA)n oul arKI where Ihe chartty's finarKial statThnts may be malènally misstated the to fr8wJ, i*d not identsfy any 8iea8 wilh an inGre88ed risk of fraud. Our oudil woceduwE5 indwl8d.. completing a risk-assessm&)t process thjrirnd our plannwwj for this that spgcifically considefed the risk of fr8ud., enquiry of manag6m6nt the Charity's pthes, pro¢IeY and related ntrOl& regarding compllance Mlh la gnd regulatrons and if there are any instances of Mn<omplkqrKe; examining supportirvJ documents for all material balances. transtiOnS and disdosurgs., erqimry of managemen( aboui Ityborts and dalms arnl inspection of relevant corresponderte,. 17
Food Redistribution Wales Limlted Company Limited by Guarantee Indep8nd•nt Audltorfs Report to the Memr8 of Food Redlstrlbution Wales Llmlted (¢vrtiiTr¥¢d) Year ended 31 March 2024 analytical wocedures to identify any unusual UwpeCl relationships.. specafic audit lesling on 8nd wiew ol areas Ihal could be subject to managem6nt override of conlrDls and potenti81 bkqs. most notabty around the key judgments 8nd eslimales. IrK4udlng th8 caryirwJ v81ue of 8ccruals, rKwsions ond reftue recognltlon; conwdering managém1 oveth(le of controls ou1$9 of the ncmal opernlng cydes Wluding testing ts Appropriatenèss of loumal entries recorded in the general ladger arKI other adjustments made in th8 preparation of thè financial statements induding evalu8ting the rational of Signif Iransxticffis. outside the ncrfmal course of tharitab18 ac11. Beca? of the wiherenl 11mltaonS of 8n au(tiL thÈfè a rfsk trt V• VAII not dgte¢t all irragularltles, Including those leading lo 8 material misststeMt in the fina?91 sla18m8nts OT nOn•LMplIance wth regulolion. This risk increases the more thot compliarKe wryth 8 law or regulation is ramoved from the events and tran8actknns reflected in ts fmncial Statements. 8$ we 11 be kss likdy lo become 8wara of instances of ncomplisnc8. The iisk Is a180 greater regardiry irreouLqnts oc£urfng dut lo fraud rathÈr than effor. as fraud In4dves intentional conént. forgery, colusion, omission or misrepresenl8lKJn. As part of an aLKIit in 0ccwlan with ISAS (UK). we exwcise wolesslM81 judgment and m8lnloin Ofes8h)n818cepthffl 1hrohl the audll Wa also: Identify ond assess the risks ol materi81 misslat8ment of the financial stslements, vthèth6r due to fr8ud effor. design and perfom audit prfxxdures responslv6 to th¢)Se rtsks. aTrY obtain audlt evidence tho1 IS sLrfhckI and appropriate lo pmvkle a bgsis lor our oplnlon. The risk of not detecting a m81erial missialement rasulllng from fraj Is higher th8n fcf Or resultlry frcffl error, as fraud may involve collusion. forgèry. intenlSonal omission5. misrewesentalions, or the overrido of Intemal control. Obl8ln an deIdirj of intemal cwthol rolev8nt to thè audll kn orrler to do8ign audlt procedures that are arpToprfate in Ihe CirM$t0105, but not for thè purpose of expTeS$ing èn opinion on the eff¢¢tivenes$ of intemal o)ntrol. Evaluate the approw6ateness of poli(aes u$¢d 8nd Iho reasonabb8ngs5 of •wounllng estimates related disclosures m•Je by the tNslB8s. Condude on the apWowi•te¥ of the tru8t8es' use of tho kn9 co1 basis ol accounting and. based on the audll evidence obtoined. a material uncert8inty exists r818ted lo events or condllknns that may c8St sgrvficanl doubl on charitys to as 8 going ¢oncem. If we conclude that o malerial uncertainty exists, we are requirod to draw attention in our auditorfs report lo the rekled di8cI)$ures in th8 financial statements or. if $u¢h disclosures are inad8qu8t8. to modfy our opinion. Our ccrtlusions arg basèd on thè audit evidence obtained up lo the dalo of our auditorfs Teport. Ho4¥ever, future 8ver)ts or o)ndith)n8 may causo charity to cease lo continue os a going cone•m. Evalu8le Ihe overall pSentiOn. structtJTe and ¢ent of the financkql slalements. Including the disdosures. and whether th8 finatxial ststem8nts represent the urbjertying transactions and events Sn a manner that achieves faw wesentstv)n. We communk8te th Ihosg charged vthh gO¥ance g8rding. among other matters, the pl8nned scope and liming of 1he au(kt and snIficant audit finthngs. including 8ny significant defficiencies in temal control that V•t idenbfy durirvJ cu a1t. 18
Food Redistributlon Wales Limited Company Llmit•d by Guarantee Indep•ndent Auditor's Report to the Members of Food Redlstrlbutlon Wales Llmited (eom Year ended 31 March 2024 U¥• of our report This report is mad6 solety lo the Chari$ members. as a bcty. in acwtsrte vAth Chapter 3 of Part 16 of the CompaThe5 Act 2006. Cxjr audit work has been undertaken so that wo might stste to the charftys members those m8tters are required to $181e to them in an audltorfs rewt arKI for no other purpose. To the fulSt extent pemiitted ty law. we do not 81xept or assumè responsibility lo yone other than tho charity and the tharity's members as 8 body. for our aimlil wryk. for this report. orfor the opinlons h8vo fomied. Far28n8 Ahme(I (Senior Statutory litor> For and on beheff of CoTSton Chartered accoLtntanls & ststulory 8udltor 1st Fioor. Tudor Hcuse 16 Caihgdr81 Road Cardlff CFI 1 9LJ Dated.. &ooI l &c)a 4 19
Food Redistribution Wales Limited Company Llmlted by Guarantee sLement of Financial Actlvftles (Includlng income and expenditure account) Year ended 31 March 2024 2024 2023 funds funds Totsl fiHwJ# Totsl funds Incne and •ndlynts Donations end legades Charitable activitl8S Investment income 491,273 608.072 166.663 1,099,345 166,663 27,654 1,241,534 27.654 Total Inffl• 518,927 774.735 1,293,662 1.242.135 Exp•ndltur• Expendrture on thwitabk• acbwlles Other expendllure Totsl •xp•ndIl• 216.936 704,$58 921.494 818,831 219.526 704,558 924.084 818,831 N•t Incom• •nd n•t mov•m•nl In fund• 299.401 70.177 369,578 423,304 R•Gonclllatlon of funds Totsl funds brought forward Total fund• c•rrl•d fonvard 1.781.667 242.057 2,023.724 2.393.302 1.6tsJ,420 2.023.724 2,081,068 312.234 The ststement of finondal aclmties wlUd0$ all galng arKI losses recogni38d in tha year. I Income ar expernltiure derive frryn Continuing ath"vlbes. Th• nat•• on p•g•• 23 to 36 forni p•rtofth•8• finrn¢l •ttsm•nl
Food Redistrlbution Wales Limited Company Limlted by Guarantse StateThnt of Financlal Position 31 March 2024 2024 23 Not• Flxed awts Tangltrde lixod asBets 17 348.410 262.231 Curr•nt a8S•t8 Debtors Cash 01 bank and in hand 322.114 1.835,778 253,757 1.568,771 2.157,892 1,842.528 Credltorn: amounts f•lllng du• wtthln orn ye•r Pl•t currnnt assots I11,) 81.035 2.Ck16,892 1,781.493 Totsl M••t• l•$• ¢uTh•nt114blllU•• N•t ••g•tJ 2.393.302 2.023.724 2.393.302 2,023,724 Fund• of th• chwlty Restrtcted funds Unreslrlct8d funds.. Ggnoral unrgslrt@d fvThJ8 D8sYJn81ed fuTrJ8 311234 242.057 .232 1.120.836 967,092 814.575 2.081.068 1.781,667 Totsl charlty fund• 21 2,393.302 2,023.724 Th080 financlal 8latsments have béèn IYepw•J in acA>yrkn th th• provlslons appluble to ompanth $ubp¢t to the small compani88' r89in c181 ststements approved by the t)8rd of trust•&8 •uthorwJ for issue on are signed on behaN of the trd by.. Trust•• Company R¢gl•tr•tlon Mumb•r. 07198367 Th• not•s <n p•g•• 23 tts $6fonn p•rtof thb••fM6l4 •tst¢m•r*& 21
Food Redistribution Wales Llmlted Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Ca•h flow• from OPOftlng att[11 Net Income 369,578 423,304 AdJustmentB frpr." D8prnciation ol tang1• fix•J assots Other interest re(ivbble ènd similar inc¢ A(xrued expensosllinLvno1 108,437 16011 (1,7821 127.6541 Changes in.. TrA& and otr debtor8 Trade and othor uedltors 168.3571 {237,2741 12.049 23.430 Cash generated from opwalion8 401.573 315.514 Intor881 roc8ived 14.571 18.7571 3C6.757 Nèt catsh from oparnling acthil 416.144 Cash flow¥ from Inv••tlng •cUTAII•• Purchase ol tangitrje 8s8els Fr¢)ce3 Irom sale of langible assets N8t ca8h used In Invo8ttsvJ acu¥$ 1171.7231 16.6561 1169.1371 {8,6561 Net Ineroa• In ca•h and e•h •qulvalents h Ind •qulv•l•nl •t b•glnnlng gf yw Cmh ¥nd ¢Mh •qulv•b•nts at •nd ofy••r 247.W7 1.588.TT1 1,835.n8 300,101 1,288,670 1,W,71p1 The note• on p•ll•• 23 tr 38 forn? port ofthow fiThwn¢ial statwwrt*
Food Redlstrlbutlon Wales Limited Company Limitod by Guarantse Not•s to th• Financial Statsments Year ended 31 March 2024 The crity is a wt4iG benefft • and a private o)mp8ny limrted by gu8ranteo. registered in England and Walas arKI a regled charity In England and Wales. Tr addre¥s of r8giStered office 1$ Unit S5. catal Business Part Parkway. Cardiff. CF3 2PU. I Stat•rn•nt of compll•nc• These flnanci81 statements have trKen prepared In compllart8 1th FRS 102. The Fin8nclal Repx)rting Stsndard applicaNe In Ihe UK and the Rewtdic of Irelond., the Ststement of RecomffleThJJ Prxtice ap1¢ab to charities prepariry th8ir aUnts In accordance wth tho Finan¢ig1 Reporting Standard applicable in the UK and ROP1¢ of Ireland {FRS 102) (Charities SORP IFRS 10211 and the Compan185 Act 2W6. Accountlng polkl•• Ba•1• of pr•p•r•tlon Th8 financl818tatem8nl8 havo bo wop¥•d Ihe historfc81 Ca)sl bag19. The ffin8ncwl $tthents are prepared In sterflThJ, lhtiich is the funclional ¢xrrnncy ef thè onlity. Golng GOnM Al the lim8 of apwovlng thè fIrw81 $latements. ihg trust88s have 8 reasonable extatIon that the charity has adequate resources to conbnue in opèrational exls10neè for thè for6sts8ble fubjre. This the trusteos cCtinUe to 8&)pt thè golrKJ concem basis of acLounts'ng in preparing the financiul stsloments. The ch8rlty helY relles on W61sh Govemment funtng thich has been confirmed until March 2025. The chadty Is currenoy awarting de$n from Welsh Govemment regarding confimiaJon of fulwe fundlng past this dale. Judg•rn•nts and k•y •ow¢ of ••llm•tlon unc•rtality The wjpara1jn of the fin•rKa•l ststwnents rewres magement to make ludgements, esllm8tes and 8s5umpt)ns that affect the amounts [>>e. These estimates and judgements are condnually revl6wèd and are based on experierte 8rd olher factor5. inrjuding expectalJon3 of future events Ihat are telieved to be re8SOnab uThJer Iha clrcumstane¢$. Thg esllmales and urKlerfwrYJ awmpkns we on an ongolng tAsls. Revlsbns to accounling estimates are recognlsed In tha period in the estim818 Is rwsed wheie the iSn affects On Ihal peri<>d. or in the peri1 of the revision aThJ fuknre pericJs where the Isbn affects both cfftnt and lutLKe periods.
Food Redistribution Wales Limlted Company Limited by Guarantee Notes to the Financial Statements tsonth Year ondod 31 March 2024 AGGountlng pollGkn feoniJwdJ Fund •ccountlng Unreslrthd funds are available for use 81 the discrets of the trustses lo further any of the charitys wrwses. OesvJnated frJnds are unrestrlthd fvnds e4rnorked by the tru¥ for partI1&r futurn projèct or ¢ommitrn¢nl. Reslricted funds are subjgcled to Testrlcyons on Ihebr expenditure dedared by th& dorKJr or through the tems of an appeal, a1 fou into cffle of sub4assos: rnstrlcted wKome funds or endowment fuThJs. Incomlng Mour¢•• AN Incomlng resou are irnKled in the of finw¢bl •divili8s Wh&n enlllement h89 passed to the chadty., It Is FYcat4e that Ihe economlc beneffts associqled th th8 Iransactlon will flow lo the ch8rity and amount can bo feliabty moasured. Th8 folhMrwJ specsfsc polici8s are applied lo parb"cular Gglegori8s of irOrne. Irome from don81ions or grants Is rwnisod vknen Ihar818 of enlltknienl to tha receipt Is wob8bl• and ils amlyml c4n bo measured reliobty. leg8cy incLThe is rec4)gru¥¢d ro(xiO rs 8rKI entiVement18 e8t8bllshed. I)Me from donated goods 1$ measured at thè lalr valua of the gcS unles8 thls 1$ Imwacllcal to mea8ure ll3bty. in thlch c8se value Is derived from the cost lo the (lonor or the estlmal&J re6818 valu8. Cknated ladlilles gnd services aro rettjgnised in the •¢coun15 when rewved il the value can be leablY me8suTe(l. No amounts are inclL*Jed for the contrthbon of9enl ¥olu)teern. income from o)ntr8cts for the sUY rA seryices is regnISed wth th8 delivery of the ¢onlract&Y seThke. Thog Is dasslfied as unrestrlcted fijnds unless thore is 8 contractual requirement for it lo be spent on a palar purpose and relumed rf SpenL in which case it may be rryarded as restri¢tod.
Food Redistrlbution Wales Llmlted
Company Limited by Guarant•e
Notes to the Flnancial Statements (¢tyth•d)
Year ended 31 March 2024
AcGountSng pollclm
Flnancl•l In8trufflent (wrthjw
Expenditure is recognised on an accwals basls as a Ilabllty Is Irrred. Expendituffj Irdu¢Yès ony
VAT bthich cannot be fully T8covwgd. and is dassrfd urKler heading5 of the ststgmenl of
fvlgncwl ac1fv5 to whkh it Tdates:
expendltsjre on rain9 fijnds IdeS the c08ts of all fundral8lng aC1fvas, evants.
n
Food Redistribution Wales Limited Company Limitsd by Guarantee Notes to the Financial Statements (Gonthwdj Yoar ended 31 March 2024 Accountlng p1•$ (coJthtM Flnanclal Instrwnents possit48 revwsol al eath rewbng dal•. Fln•ncl•l Instrwn•nt• A fimnual assèt c 8 financJal li8biThty Is recogn18ed onty then the dwty becomes a paty to the orthctugl pTh1c of the inslrument B8sic finaTrial instruments are initialty rwnl8ed at the amount rttelv8bl8 or pgyable Including any related trensaclion costs. Current assets and current li8bililies are subseqLwty mebBured at th8 cash or other ¢onsideration expected to be pald or received and not diso)unl&J. Debt instruments aro sthsequ8nty mea5wed ot rtiSed cost D•fin•d corrtrlbutlon nI ContributKins lo defined contrthtion en$ 8re rwnlséd as an expense In the peric*J in ¥thich thè related sefylce Ss promded. Prep81d conlribubons are recognised as an 8SS8t to the extent that the prepayment I11188d to a reduckn In fulure p8ymonts or o cash refvnd. Llmlt•d ty gu•rant•• Each m6mber of tho Board of Trustees has urKlert8knn to guarant the Chantys debts lo the lum of £1 ea¢h. Don•tlons and l•g•cl•• Unrestrictsd Restrthd Tol•l Funds FurKJ8 Fund$ 2024 Donatlon• Membership fees mwnd9e Donations Donallons and FwdTri¥iThJ 1.897 121,01 24.398 301,897 121,050 24,398
Food Redistribution Wales Limited Company Llmitod by Guarantee Noles to the Flnanclal Statemonts Year onded 31 March 2024 Donalon8 and 1•9•cI•s (e4wthtdJ UM1ted Restrictèd Total Fund• Furkts FuThJ$ 2024 Grants Watsh Govemment- FLndlrKJ FaShare UK Walefk() Foundation WCVA- Energy Effidancy Sch8m6 Welsh Government - Copitol grant Cardiff Third Sector CourKil grant 434,417 91,330 50.000 1.000 26.325 S,CK)O 808.072 434,417 135,258 50.000 43.928 26.325 5,000 1.099.345 491.273 unre$led Restrthd Total Funds Funds Funds 2023 Donatlo Memb¢rship fees oondance Donations Donallons aThl F1*SIng 407.485 121.050 25,651 407,485 121,050 25,651 Grnnts Welsh Gov•rnmenl- Fwding Foreshare UK W8tertoo FourK1811on WCVA ILDTCSI Welsh Govemmenl - Capild granl Cardiff Thlrd Sector Council grant 4.616 450.816 60.675 .000 22.672 103.385 1.675 50.000 22.672 103.385 614,861 626.673 1,241,534 Charlt•bl• I1¥1• Restricted T¢)tal FuDd• Funds 2024 Re5trKlod Totsl Funds Fund8 2023 RKW FW. CardMI County CcxffKAI I SBRI 166.663 186. InveJtm•nt Income Unrestricled Tol•l Fund• UNestrided Totol Fund5 Funds 2024 2023 Bank Intsrest receNable 27,654 27,654
Food Redistrlbution Wales Llmlted Company Limfted by Guarantee Notes to tho Financial Statements Year ended 31 March 2024 Exp•nditur• on charitabl• xtivitie* by fund typ• Unrestrict1 Restricted Totsl Funds Funds FurMI9 2024 ACtity Support costs 143,818 73.118 704.5SS 848,376 73,118 216.9 704,558 921,494 Unre8lricted Rosfftted Totsl Funds FurxJs Funds 2023 Actiwty Supp costs 252.681 24.370 507.497 34,283 780,179 58,652 277.051 $41,780 818,831 Exp•ndMur• on ¢harSlabl• actlvlilH by aGO¥lty typ• Ulertaken Granl fundlng directty of8cbvrtS Support Total fund• 2024 Totsl fund 2023 Admty Govemance costs 766.378 53.498 19,820 73.118 901.874 19.620 808.2 10,535 766.376 921,494 818.831 10. A11• of •upport costs Anatysis of SUFV)rt costs Totsl 2024 Total 2023 Staff costs Prembgs General office Govemance o)sts 41,129 3.873 41.129 3,873 8.496 19.620 29,639 11,688 8,790 10,538 19,620 73.118 73.118 58.652 11. Anatysis al grants 2024 2023 Grants lo In¥lliuYons Grants to knslituts(8 2.000 73,000 73,000 Totsl 9rants 82,000
Food Redistribution Wales Llmlted Company Limitod by Guarants• Notes to the Flnanclal Statements (¢oM Year ended 31 March 2024 11. Analy81s of grants (eonthJt* In tha current y £45,000 (2023.. £70,IYJO) ¥48S thvarded to FarBSharg North Iwlakn and £6.000 to West Waks12023'. £3.IJ(KI) 12. Oth•r •xp•ndllur• Umèstrthd T4)l•l Furrfl• UNestricted Totol Funds Furxts 2024 Funts 2023 Loss on disposal of tangible fixed assets held for own 13. N•t Incom• Net Irtsjmè Is #t81od after clwgirwlrndllin91.' 2024 2023 DepredaOn of tsng4ble fixed assets Loss on disposal of langible fixed assets 84.9Sg 108,437 14. Audltov• rnmun•r•tlon 2024 2023 F8es p8yabl8 for the audit of tre finCIal statements 9.960 5,760 15. Staff co•t• The totsl staff costs 8fKI employee bnts for Ihg rewong pwlod are an8tys8d as frAIows: 2024 2023 Wagès ènd salarie$ Soaal security costs Employer cOntribuon8 to p8nsM)n plans 381.1 27,273 10,068 418.491 334.628 24,801 9,286 368,715 The aver8ge head Ut of empbw tha yaar w8$ 16 (2023: 151. The 0rage number offulktlme eqU¢valt employaes during Ihe year is anatysed os fOlkn: 2024 No. 2023 No. Number of st8ff 15 14 No emptoyee recer•ed •mpW b¢n6fits d nwxo £60,(KKI duriTrJ the ye8r12(Y23.' Nil}.
Food Redistribution Wales Llmlted Company Limited by Guarantse Notes to tho Financial Ststements (¢vnthJw Year endod 31 March 2024 15. Staff costs (C¢¢1 Key Managomont P•rn¢)nn•l Key management personnel irtlude all persons that have authority and resrxinslbilty for plannirKJ. ditirj and COntrlIng the athib"e5 01 the charlty. The tolal compensation p8id to key management Perse1 ILY ¥efvw proviw to tho L*arity was £150,4C612023.'£142,258). 16. TrtIo r•mun•rallon and •xp•ns•• All Trusl88s ar8 ant111 to claim reimtyjrsemenl of the cost ol attending m6elrKJs but waive Ihe l. No trustee(sl re1¢d any rémuntiralion during the year12023.' £nill 17. Tthnglbk fix•d a•••ts Freehokl Plant and ureS and Motor 5xcrty machiwy fft11ry8 ve1¢5 Equlpmenl Total Al 1 Apr 2023 Add5tlons Dlsposals At 31 Mar 2024 225.OCQ 244.547 171.723 (2.480) 413,790 11.306 1.498 19.949 791.300 171,723 {8.8) {13,189) 11.299 949,834 {2.OS9) 9,247 225.0 2W.498 D•pr•clatlon Al 1 Apr 2023 Chargè lof tha year Disposals At 31 Mar 2024 180.919 9.881 227,431 12,038 529,069 9.000 35.453 3,603 84.958 18.845) (10.6031 803,424 12.426) 214.297 {1,S321 9.247 108.0(N) 262,884 Cwrrylng amount At 31 Mar 2024 117.000 199,493 27,614 2.303 346,410 262.231 At 31 Mar 2023 126.000 63,628 1.625 63.067 7,911 18. D•btorn 2024 2023 Trade debtors Prepayments 8fKI 8wued Income Other debtors 108.346 5.097 208.671 21.782 3.687 228,288 253.757 322.114
Food Redistribution Wales Limited Company Limited by Guarantse Notes to th• Flnanclal Statsments Year ended 31 March 2024 19. Cr•dltor4: amounts falling du• withln on• y•ar 2024 2023 Trth uedllo Accruals and deferred income Sw81 security ard other18xes Other uedltors 34,272 73,291 1,071 2.366 24.353 55,375 1.307 111,CrtKI 81,035 20. p•nOnI And h•r po•t r•tlr•m•nt b•n•fft• D•fifi•d ¢ontributlon plans The amount reOnI$8 in irKome or exFwdllure a¥ an expense In relation to defined Contiibuti( Pla was £10,068 {2023.' £9,286). 31
Food Redistribution Wales Limited Company Llmlted by Guarantse Not•s to th• Finan¢lal Statements Year ended 31 March 2024 21. Analysls of charltabl• funds Umstrlct4d fvnd8 At 31 Morch 20 At 1 April 2023 IroMe EXpdItlY8 Transfe General fuThJs D051gnat•d funds.. Fixed asset fund Capital reservè Business dovekjpmenl reserve Envlronm8ntal improvements r•sérva Repairs reserye IT Equlpment arKI Phones Unlt M1 C8pex and end of Lease Reinstatement costs 967.OY2 518.927 (219.526} 1x16.261) 9W.2Y2 129.575 120.000 (73.739) 65,836 380.000 5Crf).O 1.0c 150,0Tr) I10,0 1¢XI.(LM) 110.0¢)) 100.000 150.OLKI 1 $0.1)00 1,781,867 518.927 {219,526) 2,081,1%8 At 31 March 20 23 At 1 2022 Irthme ENpendTiure Tran8feTS Gener81 fvnds D•slgn•t•d funds.. Flxed assetfund C8FitsI reserne Business devebpm¢nl reserve Environmentsl Improvements resèrvé Repairs reseThe IT Equipment arKI Phones Unit M1 Capex and end of Lgase Reinstatement i¥ts 734,244 615.462 (1n.8141 1205.OCQI 967.092 229.012 120, (99.4371 129,575 120.OCK) 150,(iY) 150,0 110.( 1¢KI.(KKI 110,0 100,OC 55,CQO 150,OCQ 150.000 1,443256 815,462 {277,051) 1,781,667
Food Redlstrlbutlon Wales Llmlted Company Limited by Guarantse Notes to tho Financial Statoments Year ended 31 March 2024 21. Analyskn of Gharltabl• funds (¢t)Mthw Deslgnatod funds: Fu•d ass•t fund Relates lo the transfer of the unrestithd net b(w)k valug of its fixed 888ets. To maint8in an¢Yor irwease the ass81 poslbon of FareshaR Cymru to help maxlmlsa opportunities to generate income andor ¥8$1 in fvluro Flects. •$5 d0pmOnt rns•rv• To fund Invesknent In new projects aTrJ devdopments that le1 to the improvad 8uslainabllity and re8ch of tha Farashare cyU. Ths m8y include dovoknping a Operati81 actknty or ¢Jeveloping into o new area. To fund investment in irrfrastruGlurn or PIt Ihal improves the envYonment81 perfomi8nc8 of For&Share Cymru. Repalr¥ rns• To frjnd unexFrtled rer5 that arn needed lo Ihe bulldlng IrEqulpm•ne ld Phon To ftjnd upgrades to IT systems. Unl( All C•p•x and •nd off R•In$l•t•nl ¢oJts To Fund urrfLmd6d pital ¢08ts *)d premises aThd the of Ihe lea.
Food Redlstribution Wales Limited Company Limited by Guarantee Notes to th• Flnanclal Statements Year ended 31 March 2024 21. Analysls of charftable funds At 31 March 20 1 Apnl 2023 Income Expenditwe Transfer5 C8pitsI DgVolopmI fvnd Welsh Governmrt Fundin9 Walerbo Foundatk)n WCVA (LDTCS08) Welsh Governmert- C8plta grant RKW Project- Cardrff Counly Council I SBRI C8rd6ff Thlrd Sector Coun(#l Farash UK WCVA EES 128.(KKI {1) 19,Cth} 116,999 434.418 1434.418) (9),Tr)O) (12.672) 12,672 103.385 28.325 (11.479) 118.231 166.663 {166,6631 5.(KJO 91.330 5.000 72,004 (19.3261 11.¢XK>) 1704.558) 242.057 774.735 312,234 At 31 March 20 23 At 1 Aprll 222 kwm8 EXdI1 Tr8nsler8 Capital Dwelcpment 135.0(X) 22.164 (9.OCKI) (32.164) 126.0 WCVA ILDTCS05) RF3 - Welsh Govemmenl FU1r* Waterloo F0urKlaln WCVA ILDTCS081 Walsh Govemm8nt- C8txtal grant RKW Prqecl. C8rdrfl County Councll I SBRI Cardrff Thiftl Sector CourK41 Fareshare UK WCVA EES 1Q.OlXI 4),616 {450,616) (S),(1 12,672 12,672 103.385 103,385 157,164 626.673 1541,780) 242,057
Food Redlstrlbution Wales Llmlted Company Limited by Guarantse Notes to the Flnanclal Stat•mentS (¢•thmd) Year endgd 31 March 2024 21. AMtysi of charltabl• funds {¢tyrfMu• C•pltsl d•v•lopnen¢ ftUKI . funding was rebVe from Wélsh Government vp Cykh towards the cost of the freehold WOFety and associated fixtures. uIpMent 8nd motor vehi¢l¢s. The movement on Ihe fund represents ts 8nnu81 depreclation charge in respecl of the resIrd Wdsh Gtw•mment Fundlng - furnling w8¥ eNed from Welsh (knrnrnt to womde th8 charity wilh finano'al 8SSiStance wlth Its core expgrKliture lo enable the charity lo work towards figlrting food Foverty by tackliro f)d waste. Ild8d within this is £20.000 lwardS 10 portable knlthans to be pwchased and distributed to CFKS. The equipment has been purchased, however the dlslribulion vlill tske place orKe aFpIic8on pr£s5 is oompleted and In-pefgon premises ched( carried out to slgn the agreemenl CFM'S. W•t•rloo Found•tlon . fLwNJing w8s r8tèlv•d towards $8lwy costs of a three year slr818gy. WCVA {LDTCSOa)- Fubing r¢c•ived uThl8r the Wdsh Govemmenl$ Landfill DisPO$81 T8X Community Schemo {LDTCS). Welsh Gov•mmone Grant - FurKling r¢eeNed to wrchase plant and equipment for addibonal unit. The movement on the fuTrJ r8pr8sents additional grants recelved durfng the year and amual depredation thwge rnspect of r•Str5¢t 8596ts. RKW PrnJ•ct . C•rdlff County Coun¢lV SBRI service level agreement to undertak8 an innovation and developmenl pTc4ecl entiilgd Tr Sustainab PKlgcI and of Food Challenge" 8ntJ fe8sibilty SI. Carnflff Thlrd S•thr C0Cl& funthng w88 recave¢l towards Shared Property grant fund 2023.24. The fvnd ¥upported surplus ld In CarLlff based warehc4Jse aTrJ rodlstrbute to chafities 8nd CmnIty. Far•Sh•r• UK-represents fvnding of£11,000 IvrdS Rclhschlkl FCdatn fundinq agreement 2023. the fundirKJ ha8 bean albc8t•J to CFMS during the year. Captial fuThYing of £52.000 was r8C8lv8d dwing the year towards chi11gr arKI stOrn9è capacity exPansnS in th8 new unlt, this will decrease by an annual deprnciaknon charge. A grant of £28,330 was e1Ved tcrtl8rds fundiro fuel costs provi(led from Fashare UK tharitab frjnds. An amunt of £21,881 18 bel carrd forword to the next year 88 as reven funding. WCVA EES. Funthng recei1 ltyrdS Erw Efviey Scheme Survey. Tran8f8rs belvffjen furvjs . th8 transfers are In r8SP8Ct of a55ets purchased, thè purch888 of the assats rgsults in thg restricts bwng
Food Redistribution Wales Limited Company Llmlted by Guarantea Notes to tho Financial sLeMOrrts Year end 31 March 2024 21 Anaty8i• ol n•t a88•ts botwwn fund• Unrestricted Restricted Total Funds FurKts FuThJs 2024 Tangible fixed 0589ts Curr8nl assets Creditors less Ihan 1 year N•t as••t• 55.836 2,136.232 {111.0(y)) 2,081,068 29).574 21.660 348,410 2,157,892 {111,0> 2,393,302 312.234 unrestric Reslitted Total Funds FurKYs Funds 2023 Tangible fixe(l asxts Current assets Creditors bss than 1 129,575 1,733,127 181.036) 1,781,668 132.657 109,400 262.232 1.842.527 {81.036) 2.023,723 242.057 23. Analysh of chary•• In n•t d•bt At Al 1 Apr 2023 Cash Ilows 31 M•r 2024 C85h 81 bank in h•rKJ 1,588,771 247.007 1.835,778 Op•rallng l•a•• comml¢m•nl• The total firture minimum poyments under non-Ggncelleble op•r8tlng laasés arn as folkAvs: 2024 2023 Not later tron 1 year Later than 1 ygor arKI not later than S years 54,976 14S.693 204 200,669 204