COMPANY REGISTRATION NUMBER: 07198367 CHARITY REGISTRATION NUMBER: 1141781 Food Redistribution Wales Limited Company Limited by Guarantee Financial Statements 31 March 2026 CARSTON ETL Chartered accountants & statutory audrtor 1st Floor, Tudor House 16 Cathedrdl Road Cardtff CF119LJ
Food Redlstrlbutlon Wales Limited Company Limited by Guarantee Financial Ststemonts Year ended 31 March 2026 Page Trustees. annual report {Incorporating the directorfs report) Independent auditorfs report to the rnembers statement of financlal actlvlties (including income and expendrture account) 16 21 Statement of financlal posltion 22 Statement of cash fiows 23 Notes to the financial statements 24
Food Redistribution Wales Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directofs Report) Iconllnu•lJ Year Onded 31 March 2026 Reference and administrative details Reglster•d charity name F¢xxJ Redistribution Wales Limiied Charlty reglstration numb•r 1141781 Company reglstratlon number 07198367 Pwinclpal offlco and r•gl$tored Unil S5 offico Capitd BusirS Park Parkway C8rdrft CF3 2PU Thft trustfjes S Harrls - Chair J Belcher C Bray SJ Millyjrn C Jones M Little M Lloyd J Paddock C Smith R Thomas ResvJne(l July 2025 Resigned April 2025 Resigned February 2026 Sonlor management S Gerniain - CEO G Molan- Head of Oporali<)ns K Padfield- Head of Development S Williams- Finance Man89 Audltor Car8ton ETL Chartered accounlanls & stalul(*y auditor 1st Floor. Tudor House 16 Cathedral Road Cardrff CF119LJ Bankerjs The Cwperalive Bank, P.0. Box 250. Delf House. Southway, Skelmersdale, VIN8 6WT TrlcKk)s. Deanory Road, Bristol, BS15AS The Charlty Bank Limtted. Fosse House,182 High Street, Tonbridge,TN9 18E
Food Redistribution Wales Limited Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) (witin4th Year anded 31 March 2026 The trustees, who are also the dwectors for the purposes of company law, wesenl th8ir report arKI the finanaal 5ts1em8nl8 ofthe charity for th8 year ended 31 March 2026. Trustw Stat•m•nt: Through1 2025126, continued to lum surplus fwd Into OPPunItleS lo slrengthen Communities. improve wellbeing and protect environment across Waleg. As trustees. Jt remains a privilege to be involved and offer an important level of $¢rutlny. strong govemance and support to staff. Clearly core lo what we do as a soeial enterprtse is the tJi8tribution of food lo those )MmUn(leS who need it most. Betsveen April 2025 8fKI March 2026. the SurF4us with Purpose {SWP} Cymru Fund helped rescue over 58 tonnes of Wdsh produce. supporting 186 Community Food Members acro53 swlh Wales and providing the equsvalent of 138.795 meals lo an eslimaled 21,390 people. We appreclale the continued supp¢yt of the Welsh Government lo hdp us ach@ these tPUt5. Supportiro Welsh growers means suppcwtlng Wel¥h ¢ommunitie$ - helping ensure good food reach88 plates, not lan(lfill. Beyond th8 SWP, thls ye¥ report Shows Ihal we have ddlvwed the following oijtpuls: 2,6,966 meals ¢realed 1120 lonnes of food redlslribut8d 3850 lonn88 of C02 saved 131 Volunlaers gave 11.474 hours of iheir time 286 CharitSes and communty groups SUPPOrted a¥oss Wales Behlnd the88 figure5 are communities. volunl¢ws. ¢hatties. suppliers and partners working together to ensure good fcod reaches people rdlher than going to Wdsle. Together, we continue to creatè positive soctal and environmental impaGt across Wales. In September, FareSh8re UK announced its merger with The Felix ProJe¢t. a London-basgd charity that shares our m15sion of supportirKJ communilies and re(lu¢ing food waste. As Iruslee5, we have followed these developments carefully and believe Ihis merger will bdng new opportunities for vs that Includes unlockiNJ more surplus food. building stronger parlnwships. and amplty the voice of th8 Fareshare network al a UK level. Most importanlly. it means that even more communlty groups, schools, and local projects will be able to a¢eess the focJ they need to connecl people. brlng them Icgether. and make a drfleren¢e. As Irustees. we will (ntinUe lo monitor what this means for us golng forward In 18ms of ft)od supr4y, funding. the network across the UK and t*andlng. We are woud to reptyt the outcome of a WeL8h Govemmenl evaluatlon that looked closety al our operation and how we spend the fijnds received. 11 highljghled the snnI soclal. environmental and economic value created through fd redistriLxJtion, reGognising Ihe posllNe Impact surplus food has on eommunrties, food kYc#Jucers and the wider Welsh economy. Cororalulalions lo the managemenl team and staff in hleying this ouicome. Flnally, some thanks, and as with every year. trustees are immens8ly proud and appreciative of the staff working hard lo athieve the above and of course the volunleers who continue to bring incredible dedication, expertise and generosity to Fareshare Cymru. or course, we thank our funders in Welsh Government, the M¢)OrKIan Ftyjndation and the Sirnon Gibson Trust for their supporl IhroLJghout 2025126.
Food Redistribution Wales Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢onllnued) Y•ar ended 31 March 2026 ObJectlv08 and activitles Fareshare Cymru's charivs objects ("Obiecls'l a sk)eufically restricted lo the following.. al the relf of wvety and the preserValn and promotion of good nutrition, good health and soclal improvement among peOe who are sufffjring from 50cial. nOmiC or emotional distress in such ways a$ the Director3 may in their absolLrte discretK)n think fil bul parti¢ulwly through.. {1) the lIeort and rediStriPN)n of surplus food", and 1111 the encouragement of membv5 of the wbli¢ to urxlertake voluntary worf(', {bl the a(Svan¢emenl of publlc UCatIon in particuL4r W not exduslvety by providiNJ Iralnlng in the voluntary sector-, and {¢) the furtherance, for the benefft of the public, of Ihe conservaknn, proleelion and improvement of the physical and natural environment Ihrough the reduction of waste (in partbcular lood wa$lel and ils adverse environmental Im1$. Publlc Ben•llt The Trustees confirm that they have relerred to tho Charity Commvssion's guthnrA on publk b6neflt when reviewing th8 charity's aim$ and obiectlves and in planning future aclivllies. Fareshare Cymru's fws on tackling food povety. wthing in partnership wth local charilles and eommunity-based ganisalions. has a dlrecl and posilNe benefit for many of the most marginali$8d people in Wale8 lindlviduals who are homeless, unemployed, poor. isolaledl. The chanty eng89as IndlvKluals as volunteers In ils work and Ihls 6s open lo all members of th6 Community. indudlng the most m8rginalised. This also provides opportunities for volunle8rs and olh6rs lo gain recognition. Including accreditation, for the skills they have acquired whlle working wllh Fareshare Cymw. In additlon through th8 use of surplus food we are reduciro waste and reducing carbon emissions
Food Redistrlbutlon Wales Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (Contin) Year endod 31 March 2026 Achlevemonts and performanc• Our Impact Throughout 2025128. we lumed surplus food into opportunities lo strengthen communities. improve wellbeing and protect the environment acxoss Wales. 2,966.966 meals created 1120 lonnes of food redistrilxjted 58 Tonnes of food was Welsh produce re(iistributed through surU3 with Purpose Cymru 3850 lonnes of C02 saved 131 Votunleers gave 11,474 hours of thew lime 286 Charllleg a1 community groups suppcrfted xross Wales Our Achl•v•ments 2025126 was a year of growth, lIabatron and visibility for Fareshare Cymru. Through Improvements In operallonal eff9r and ways of worklng. we were able lo in¢w$e our reach and SUPE an additional 24 charllies and mmunity groups across Wales, ensurlng more organlsallorts could access surplus focrtj and the wder benefits li brlThJs to local communitie8. During the year. we relaunched the Surplus with Purkx)se Cymru programme, helplng slrenglh8n relallonships with Welsh growers, prOdur$ and supplws while encouraging MO busin8ss8s to redistribule surplus food a¢ross Wales. We also Increased our prence al naliond events and wthin conv8rsallons around food su51ainabillly aTrJ community support. This included allending the Royal W6l$h Show with our immers8 Field lo Fork virtual reality experience, hdpirwJ false awareness of surplus food fedNstribution and ils impact awss Wales. Fareshare Cymru also contributed lo wider dixus8k)ns on food systems and food insgcurlty through partlcipation in events including the Blaenau Gwent Food Summit, Swansea's Falmess for All workshop. and Y Farchnad at the Senedd. Fundraising and supporter engagement grew throvghoul th8 year. During the Bio GNe Green Match Fund campaKJn, supporters helped raise £11,866, equivalent to n>Jre than 47,000 meals for mmunrties across Wales. We also successfully launched the Meals wlh Meaning Christmas campaign aNJ look part in the Tesco Winter Food Collection. suptx)rted by volunteers arKI communities across W3les. Throughout the year, we ¢onllnued higNlghtirKJ th8 work of Community Food M8mb8rs across Wale$ through Vrts, storytelling and campaigns. Organisalions induding Grow Rhondda, Sirhowy Community C8nlre, Hope Pantry al The Hive. Bridgen¢J Commvnity Outreach Centre. GVS Foodshare Pantry and Prendergast Community School demonslraled the many different ways surplus food can help strengthen local communities. We also continued expanding voluntewir4J and employability opportunities, celebratifyd Volunteers Week, hosting volunteer awards. and suppth"rwJ partKlpants through programmes including FareBoosl Cymru.
Food Redistribution Wales Limited Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) icontthwdj Year ended 31 March 2026 Volunteering In 2025126. we contanued to grow our strong and engagod volunteer communty. A lotal of 145 people vdunleered with us, giving more than 11,4CKI hcyJrs of their lime. On average, volunteers completed around four shrfts a month in our warehouses. and by the end of the year we were supporting almost 3 volunlew shifts each month. Our volunteer5 continue lo bring incredible dedication. expertise and 96nÈrosity to Fareshare Cymru. Throughout a year of sKJnrficanl change. they Sh1¥8d flexibilty, commitrnenl arxl a willingness lo support now ways of working acfOSS Ihe organtsation. We were proud to be runners-up once again in the Cardlff Volunteer Awards 2025. and especially delighted that tsvo of our volunteers receNed natnal vdunleer awards from Far&sha UK. We also ¢onlinued our work through the InvesllrKJ In vUnteerS sc1w, h8lping 5hap8 the future of volunteering al Fareshare Cymru. Thi5 has been strerwJlhened through the supptyt of our volunteer panel, whose idoas and feedback continue to hdp Improve the volunteer expertsnrA and the work we do. Celebrating our volunteer¥ remalned an iMptsnt part of the year. Volunteers Week was marked wrth a warehousé BBQ and a week of staff-made cakes. vhile the Faréshare UK and Internal volunteer awards were celelNaled with afternoon lea al the warehouse. Stsff volunteers dso came logelher for a lively Christmas celebrath'on al Llanishen Rugby Club, and Ihe yéar ended with a spvxial social gathering at Tiny Rebel Brewery lo celebrate the retrement of Gerry Mdan, our much-loved Head of Development and qu&masler extraordinake. Case Study.. Altyson and Jo• Allyson joined Fareshare Cymru In Ocaober 2024, k)klrKJ for a voiunleerirKJ oppcytunity that would 811ow her lo make a practical drfference in her community. After enloylng her experlen¢e, she encouraged her husband Joe to join Shortly bofore Chrlslmas. Together, they volunteer weekly in the warehou$6, helping pick orders for charilies and communlty groups across W8le$. Through their role. they help ensu good food reaches organisalions supporting local people and wmmunhios. Reflecting on h8r eXpnce, AIyEon satd.. very tlm• I go 1m• I say. Thls is so satlsfylng.. In my lob. the satlsfactlon was always a long way away. 1th this, 1¢ s Instan¢-you know thè food Is golng to a group that wlll really appr•clate ft." Altyson and Joa's $lory hJhli9hl$ h(yw voluntevSrs can provide purpose, connection 8nd a tangible way to 5VPPOrt communities whil6 helping ertsu good fcx)d a¢he5 those who need it most. Corporate Volunteerfng We expanded our corporate volunteering programme during the year, welcoming larger teams and increasing the number of aVailae volunteering days. We hosted 35 corpcate volunteering days, with more than 140 employees volurrteerlng ajorrfjside us. Every corporats volunteer leaves with a greater understsnding of our work and becomes an advocate for Fareshare Cymw within their workplace and communrty. It has been a year of growth, change and progress, and our volunteer5 have continued to play a ntral role in supporting improvements and expansion across the organisatw.
Food Redistributlon Wales Limited Company Limiled by Guarantee Trustees, Annual Report (Incorporating the Directovs Report) (contln Year ended 31 March 2026 Food Sourrlng Throughout 2025126. we c>)ntlnued to strengthen supplier partnershlps and expand the red¢stribution of Sufplus food across Wales. ¢er 960 lonnes of food were redlstrfbuled during the year, including 806 tonnes of surplus ft)od. wth more than 20QA sourced locally. This equates to approximately 2.29 milln meals. supporting Indlvlduals. families and comrnunities across Wales. These achievements would not have been possible without the ongoing support of both long-standing suppliers and new partrws. to whom we slncere thanks. Bullding and maintaining strol supplier relalK)nships femald a key priClty throughout the year. Alongside developing rW partnershlps. we successfully re-engag8d a number of previously lapsed suppllers. leadirwJ to renewed and ad hoc donations across a wide range of product c8tegori6s. We also continued lo build nv4V rdatK)nships through proxtN8 Creach. dighal campalgns and allendance at key industry events irKludlThJ the Royal Wdsh Shth¥. Castell Howdl Trade Show and Taste Blas. Alongside redistribution activity, we explored opportunlli8s for wlder CollabatiOn, in¢luding parlnerships f¢)cused on u51ng surplus foLKJ within meal producllon. W8 also carried out early feasibility work around a potential gleaning pilot and Idented further opportunities lo increase surplus sourcing and redistribution ¢apa¢ity in the future. Thls Induded assessing the feasibility of imtSemenling a gleaning initiative aNJ idenlrfy PXlenlld opportunttw8 for cdlatwyalJn around South Wales. Through access lo their neiwork and by addressing potential opeTrtional challenges. we identified and 8ngag8d wtth three prospectNe famiers to discuss participation in gloaning activili8s. These discussions provided valuable insight into the practical Consideratn5 and level of interest amon9 local producers, helpln9 to evaluate the viability of future gleaning opportuntties. Surplus wlth Puwe Cymru Fund We are grateful lo the Welsh Government for ils continued supFort of Ihe Su¥v$ wllh Purpose Cymru Fund. This funding enables Welsh fch)d businesses lo donale surplus food wllhout facin9 additn81 sl$ such as F)ackaglng. labwr. labelling or transp(xl. Since Aprll 2025. the fund has supporied the redkstribution of moTr than 3SS tonnes of fresh produce and dairy produ¢Xs, iluding FQtaloes, leeks aThJ ¢e$8. Thls surplus food redlslribution prevented an eslimated 1.099 tonnes of CO2 emissions that would otherwls8 have been generaled rf the focJ had gone to landfill. 11 also helped ueale approximately 845.000 meals for peoF4e experiencing food Inserity a¢ross Wale$. One of Ihe new partners aesSIng the fund thi5 year wes Monarchs Crackers in Wesl Wales. Through this partngrship, surplus thee5e crackers and leSe were suc(wfully r8dlstrbbuted to communrtle8 across Wales. As highlighted by Managing Drector- Aex Rus: 'We wanted to donate through FareSIMre Cymru because thelr model ensures surplus food goes d1ctlY to people WI need it most In Wales. Knowlnq the cheese wlll be dlstrlbuted to local community organisations and famllles who benellt fn>m nutritlous. high-quallty food glves us cOnfidee it will have the grna(•stposslble Impact."
Food Redistribution Wales Limited Company Limited by Guarantee Trustses. Annual Report (Incorporating the Directorfs Report) (witlnu8d) Year ended 31 March 2026 EmplObIlity Throughout 2025126, Fareshare Cymru Conti lo supwrt people a(xoss Wales lo buikl confidence, gain practical experience and develop new s11$ through volunteering, training and employ8biltty opportunitie$. Our empfoyabllity work focuses on cr&qting supp(wtive and inclusNe environments Whe people can gain meaningful 8xpeflen¢e while contributing lo their local communities. Through warehouse operations. food handling. adminislralion, community engag8m8nl and cooking activrties. part1panIS developed transferable workplace skills. confidence and rouliw in a real wolng environment. Alongslde praclul experlenee, participants were supported lo improve w811tréing. build social connections and exptore pathways into further training, volunteoring and em 9yent. During 2025126, 14 participants joined the FareBoosl Cymru programme. wtth Six progressing into employment. This demonstrates the positive role the programme plays in helw'ng people build confidence, 9ain experlence and take meaningful steps towards work. As Fareshare Cymru llTrUe8 to gTOW, we remain c4)mmitted lo c¥eating opporlunllies Ihal not only reduce f¢Jod waste and Strethen communitles. Trxrt also help p8ople grow in confidence, skills and aspiration. Ca8e Study: Chantellè's FareBoost Cymru Journgy One particlpant, Chanl6lle. joined FareBoosl Cymru looking for $truclufe. conllderth new opportunllles. Over the course of the programme, she developed leadership skllls. galned practic81 experience and became an 8cllvé part of the Fareshare Cymru community. During her Ilme with FareBoosl Cymnj. Chantelle secured her first paid role in hospitality al the Prln¢ipality Stadium and began prep¥ing for future training OPP¢)rtunitie$, induding Secunty Industy Authority {SIA) Irdining. Refiecllng on her experlence, Chantelle sakl: "8•lng p•rt of FargBoost has glven a vns• ol punjosè Jnd communlty. You're holplng peopl• who need food, and ft feels •mazlnq to make • dlfforence.- Chantelle's Story highlwghts the vder imp&1 of FareBoost Cymru. demonstratlng how praclul exFer[er, encouragement arKI community supm can help people build confidence and move towards new OPF)Ortunities. Communlty Food Members 2025126 was a year of gro. partnershlp and collaboration across our Community Food Member neOrk. We su¢ce5sfully onboarded many new members across Wales, while many existing rnembers Increased the amount of food they received. We have supplied 10 Sets of Zero Waste Dispensers lo some of our mem1ls. which has meant can r8distribule more catering ambient stock throughout Wales, meaning that less foc*Y K8 going lo waste, and less packaging tool Almost 40Yo of our members now use Fareshare Cymru food within cooking and meal-based projects.
Food Redistribution Wales Limited Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) Icontlnu•d) Year ended 31 March 2026 Our members include community organisalions, s¢hooL%. supported Using projects. faith groups. pantnes. cafés and grassroots inib'atNes working in Communities across Waks l)Jr members indude- The Bridge Mentoring Plus SC6 Trimsaran Big Bocs Bvryd Kenfig Hill Meals on Wheels Baobab Bach Bethel Trust Port Talbol Yslradowen Community Centre Teèn Challenge Hope Hwsa P6mbrey and Bury Port Community Shop Aberporth Heart of the Commun¢ty Fridg8 Al-M8nar Foothold Cymru Beechwood college Sycamore Centre Sandfields Communfty Panty Baobab Bach Slrhowy Valley Hub CIC {CaleTlngl RCCG Vlneyard Chapel Cwmfelin Primary Schcd B8B UK Islamlc MissK*n11 care Newport) Food ProJecl The Shared Plate Al-lkhlas Centre The Fortified City of God Jesus Cares (King's Church> All of our mernbets use food In ways Ihal go far Iwond emergerw provislon. Thé Shar•d Plate In Swansea, for example. uses f( lo leach young people CO0.ng s11$ before brlnging people together through shared community meals. Beechwood Colle9e in Sully Inccryrales food into learning opportunhles wllhln Its resi(iential setting for young avlislic adums, whlle Kenfig Hill Meals on Wheels Baobab Bach in Bridgend prepares healthy rneals for local pPIe who are unable to cook for trMselVes. We partner wllh organisalions that plx• food al the centre of wider ¢ommunty support. While food is often the starting point. the impacl re&hes much further, with m¢MrS provTding safe spoces, practical support, social connection and Se tailored lo the rwd$ of Ihelr communities. We deeply value these partnershlps and the difference they make thIn local communitw across Wales. Ca8• Study: Communlty Voluntgers Walos Community Vdunleers Wales ICVWI in Risca uses surplus food lo support local people through a range of projects designed lo tackle poverty. reduce isolation and strengthen community connections. Through initiativos including The Pantri community panty and farnily c4jo.ng sessDns, food acts as a gateway lo Wer 5upp¢yL leaming 8ThJ wellbeing. With support from Fareshaw Cymru, CVW reiVed a Pop-up Kitchen which is helping local f8mi1Ses develop cooking skills. build confiderKe and prepar6 healthy meds on a budget. Tara. C¢>Founder of Community Volunteers Wales. explained.. "There's a much bigger piGture, because rf people can come together and have those conv8tsatlons and socialise, it's all supporting mental health. Food Is aws a part of that..
Food Redistribution Wales Limited Company Limlted by Guarantee Trustees, Annual Report (IncorFK>rating the Directorfs Report) {con¢inuodJ Year ended 31 March 2026 CVWS work demonslrales how food can do far more than fill plates. It can bring people together, create opwrtunitles lo leam new skills and help build stroroer. more connected communities. Fundraising and Partnershlps The support of our funders, partners and supporters continues lo aY a vital role in the Success of FareShar8 Cymru. Through thelr Investment and collablxalion. we can redistribute g)od food across Wales, strenglhen ¢ommunities and duce food waste. We would like to extend our sincere thanks to the Wdsh Govemmenl. the moondar Foundallon and the Slmon Gibson Trust for their supp1 IghoUl 2025126. Thelr funding has enabled us to contlnue ddiveiing our servKes, increase our reach and support mre charities and communlty groupg across Wales. During the year. we wdcomad th6 findlngs of the Welsh Government's independent evaluatlon of surplus food redistribution in Wale5. The evaluation highlighied the signfficant social, environrnanlal and economic value crealeé through food redislrlbulion, rec#)gnising th8 positive Impact surplus f( has on cornmunit, food producers and the wider Welsh econorny. Collaborats'on remained central lo our work Ihroughoul Ihe year. We contsnued to conlrlbute to reglonal fi)od partnerships and sleering groups across Wales, incfuding the Torfaen Food Sleerlng Group. Food Vale steeri Group. Rhondda Cymn Taf Food Steering Grp a} Bwyd Abertaw6. Through these partnerships, w¢ helped support disCuss)n$ around food insecurity, suslainable food systems. food waste reduction and communlty food provision. We would also like to thank the many food suppliers. ¢orporale supporters, donors and voluntee who have supported Fareshare Cymru Ihroughoul Ihe year. Their commllmenl helps ensum good food reachès people communrttes across Wales rather than 901ry lo wa$le. Together, these partnersNps enable us to maximise wr impact and continue bulkllng a more SU81ainable, connecled and resilnl Wales. Evenes and R•prnsentatlon Throughout 202S126, Fareshare Cymru contSnued lo champlon the role of surplus food redistn'bulion through events, eonferences, partnerships and policy dis(aJsslors acros5 Wales. These opportunities helped raise awareness of our work. strengthen partnerships and contribute lo wder conversations und food sustainatslity, food insecurity. communlty reslionce and envlronmental impact. Durlng the year. we attended Royal Welsh Show. engaging wrth grower5, prcducer8 and visitors from across Wales. Our immerswe -Field lo Fork- virlual reality experien(* helped demonslrale th8 joumey suwus food takes from farms and 5uppll8rs lo comrnunrty organisations, highli9hling both the environm6nlal and social impact of food redi8lributh)n. We also attended Blas CyrT7ru l Taste Wales. where we eonnected th Wefsh food and drink producers, supplErs and partners from across the seclor. Following the event, surplus produ5 donated by exhibitors were redistn"buled lo communities across Wales, hdping ensure good food did not go lo wa8te. Fareshare Cymnj participal8d In a range of ev&nts and disCussnS throughout the year. including the Blaenau Gwenl Food Summit, Swansea's Fairness for All workshop, the Wellbeing Economy Conference and Y Farchnad al the Senethj. We also continued lo contribute lo the Wales Anli-Poverty Coalition. Cwmpas. Cross Party Group on Fo(MJ ReSi1nI%. an(J reglonal food partnerships across Wales.
Food Redistribution Wales Limited Company Llmited by Guarantee Trustees, Annual Report {Incorporatlng the Dlrectorfs Report) (conlin Year •nded 31 March 2026 As part of our policy and inftuenryng work. we launched our manrfeslo ahead of the 2026 Senedd elections and participaled in Equality and Social Justice and Climate Change, Environment and Rural Affairs roundlabl8 discusslons. We also provided both oral and SlI1en evid8nce lo the Senedd Equality and Social Justlce Committee inquiry into access lo healthy. nutrilous and affordable fc4Jd. and gave oral 8Mdence to the RKJht to Food Commk8sion during ils Cardlff sesslon. In December. we were eaSed lo wplcome the Deputy Fir¥t Minister. Huw Irranca4)avles, and Jane Hutt to our Cardiff war8hous8. The visit provKled an opportunity to showcase the impact of surplus food redistribution across Wales and highlight the work of our $laff. volunteers and Communty Foc*J Members in supporting local communities. ongsld8 natlonal •vènts and policy engagement. we ntinUed visrting Communlty Food Members and local projects across Wale5. helping share stories of impact and ¢el¢bral6 the work taking place IhSn comMuneS every day. These visits strenglhened relationships. Increased undersianding of local needs and highlighted the many ways can suppori wellbélro. connection and opportunty. Qper•tlon8 In September 2025. we moved our day-l04ay operaltons to the M1 warekce. This transillon enabled increased focrtj Ihrwghwl by making full use of Storage cap8dty across both warehouse8. allowing us lo support a greater number of charit$ and community groups. We have also fo(xJsed on improving operatK)n81 efficiency, intrcKluclng tablets to support key processes. This has reduced both processing lime and paper usage, streamlining day-ldaY activitle5. Use of the labelling machine enailed us to re-label 6000 packets of surplus rice which would have otherwise gone to waste. Slnce September 2025. the ddNery schedule has been under conllnuous fevlew. with new roule8 Introduced to expand our reach. As a result. we have been able lo support more ¢harilie$ and communty groups across Wales. V•Drking wllh an addllbnal 24 Community Food Members ICFMS) from our Carditf depots. Fareshare Plus has been delivered quarterly from the S5 srte. Thls Initiative provides a non-food offering to our members. giving them access lo items such as toiletries, pel food and other ossenllal gocrfl$ identified as beneficlal for Ir communities. 10
Food Redistribution Wales Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnu• Y•ar ended 31 March 2026 Flnancial revlew Review of the financlal posllton al the end of the acewnling pernd The financial statements for the year ending 31 Marth 2026 shrMI an overall deryease in total income and funds compared with the previous year. Overall income decreased from £1.342 million lo £938k. This was primarily due lo oneff projects In the prevlous year, including SBRI funding for the Redistribution Kitchen Wales project and additional apital fundlng from the Welsh Govemmenl for reaceMent vans. Similarfy, expenditure decreased from £1.C64 millb?n to £943k, mainly reflectin9 the direct Costs as$rKialed wrth the Redistribution Kitchen Wales project in the previous year. therall. this resulted In small def11 during the year, which was funded from general reserves. One notable positive change was an impr¢)vennt in our cash positr)n of £418k, primarity due to a redu¢llon in debtors. Summary ofreserves At the year end unrestrlcted reseNes were £2.367,782 (2025." £2,282,208). of whkh designated reserves amounted to £1.553,32812025: £1,076,547) resuwing in general funds of £814,45412025. £1,205,661}. Reslricled reserves amounted to £298,923 12025: £388,830). The level of free reserves available wa8 £814.454 {2025. £1.205.661}. Rlsk management Fareshare has a rl$k management strategy that eentres on mainlalnlng a rlsk reg181er. The inltSal IdentifatIon and assèssment of risks is dong by the Management and the Board of Tnjslees. The Iruslees review the risk gISter on a regular basi%= they consider how Ihe risks inleracl and where lo wlori115e miligaling action$. The mah categories of rfsk Identffied can be segmented into th8 foll4¥1n9 main areas: Food safety- Food redistributlon Is the essence of whal do. FocY safety. its traceabilTty and overall handllng a al the core of both our mission and our reputallon. Mili9alion.' Our policies and prccedures enable us lo maintain the hvJhest standards as any lapses would utlimalety comprom188 our poslllon of trust and expert authorty wlhin the food industy. Loss of key staff - Fareshare Cymru has a small staff team and Ihe loss of any key indfvidual would be significant. Miligalion.. We ensurè Ihal all staff are able to er a varlety of tasks. Putting a succession plan in place. Se¢urlng Surplus food - We rdy primarily on FareSh8re Uk for our suppty of ftmxl. Those supplies of food are potentially vulnerable to commerckql compelition as well as allernalNe uses such as allaerobic digeslion and animal feed. Miligalion". We have reCrted a Fwd Sourung C04Kdin8lor and work closely with Fareshare UK lo reduce barriers lo a¢¢epting food. This 15 a150 addrassed by OLJr target resgtVe5 pollcy of aiming to ¢))ver six to 1¥8 months of ordinary ongoing expendtture. Operations - Fareshare Cymru operates a busy warehcyjse with potentially hazardous equipment such as forkjrft trucks and walk-in fridges and a freezer. We have boih office-based employees as well 11
Food Redlstribution Wales Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) iconthlu Year ended 31 March 2026 as extemal volunteers coming to work at our sites. Mitig8tn. We maintain an up-104ate health and safety manual and ensure nSIStenI communication IhfC4Jgh training and induction programmes. In addition lo this, we have carrd out display s¢xeen equipment audits for all 8mployees and conducted a risk assessment for lone workers in the depot, wciking from me and Iravdling on works business. Existing risk assessments have been reviewed aNJ LJpJalY. A fire rlsk assessment has been carried out with quotes being sought for remedial actK>n. Income geratIon - A laTg8 propOrtn of our irKome from grants. much of which is short-lerm. The trustees regulaAy review forecasts to ensure we are able lo aJj¢Jst our expendrturè to deal with changes In projected revenue. Mriigation.. We aim lo increase (Mjr propcKtK)n of earrnd Income over time as can be seen with the inuease in membership fees. Pl¥n¥ for fLrtur• porfod8 In March 2026 we complet&J a refurbhment of Ihe kntchen and offtt Space in S5, ulilislng a sel of pop-up kltchen equipment and creating a dining space. Going forward, we will be recrurting a Culinary Lead who will produce h9althy cooked meals for volunleefs lo be eaten on sile, develop and deler cooking skills training to volunteers and SUPFQrt CFMS lo get the most out of the food they re¢eive by ddivering cooking demonslralions and ce8ting rescoJrces around use of th8 surplus food available, with a focu5 on produce. The cooking skills training will also Ilnk In with plan lo re-launch wr employabilty programmo, F8reBoo$l. with a merged VUnteer and Empk)yability Lead role. Tralnlng wlll be a focus Ihriyjghoul 2026-27. with Ihe recrvilmenl of a Training Lead lo develop aTrJ deliver volunteer training. This will ensure all Iralning gNen lo volunl¢ers is consislenl, recorded and reportable. 11 wll also transfer into ensurirvJ our pro¢8$$•s and the quality of our service lo our CFMS is consislenl. We will continue to Tollout Ftyrft TnKk training in4K>use and Ik 81 b&¢omlng an accredileé training centre. A need has been identified for our servk88 In West Wale8. We will recruit a Proie¢l Officer lo work In this area, ensuring we tan support eharrties and communlty groups with good quality surplus food. This will Involve expandlng further Into West W81es and scoping oplbns for delivery In West Wa longer.l¢rm. Overall, our alm Is lo contlnue to supwt local charities arKI ¢ommunty groups that ar8 ulllislng surplus food lo create social impoct in their communtties. whilst providing an ethically, enrOnmentallY and economlcally 80un(I solut to tho focJ indu$ty. ConlritMJte towards 3.4 mlllion meals Support 287 charities and community group Redislribule 1371 lonnes of food saved from waste Save 4113 lonnes of C02 Save £1.6million for the Third S8ctr 12
Food Redistribution Wales Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrectorfs Report) (conllftt) Year ended 31 March 2026 Structures governance and management Governing documont gnd constltutlon Fareshare Cymru is the trading name of Focd Redistribution Wales Ltd. 11 is a charitable company limited by guarantee {no. 07198367) and registered wlth Ihe Charity Commission as a charify in England and Wales {no.1141781). F&eShare Cymru was inwrporaled in 2010 and is governed by ils Memorandum and Arbdes of A5latn adopted on 22nd March 2010. We began operations in July 2011. Staff Team Chf Executive Officer-sarah Gemiain Head of Operations - Gery Molan Head of Devdopmenl- Kat PadrId Flnance Manager- Sarah Williams Ernployability Lead - Jessica Howells (untd February 2026) Food Sourcing Lead- Carmai Chung Fundraising Lead- Stepn Wornham (until June 2025) Marketing & Communtations Lead - Bethan Cook {fM May 2025> Vdunleering Lead - Phll Pinder Communrty Food Member Lead - Laura Haines-Burke Finance Officer -shelley Stok85 Support and administration offter - Emift8 Redzepovk (from Octobar 2025 until March 2028) Operallons Manager- Alan CU1hrts0n (from June 2025) Deputy Op6ralion Manager.. Dan King Assistant Oporalions Manager¥'. Shane Hafvey (until June 2025), Emma Roberts. M8rt Lee. Patn'¢k Waker Mohanlh Palem (from September 20251 James Aylward (from Seplember 2025} Rgcrultment 8ndAppolntment of Trustees The Trustees. who are also direelors and members of the charitable compary, are 118led on th8 previous page. Each yeer, ontrthird of the truslees retire from office bul may stand for releclion according lo the procedures sel out in the MemoratNJum and Articles of Association al the next Annual General Meeling. Trustees are recnjlted with a range of ski115 and experienc? that is needed best lo ensure sound governance and strong progress towards the charity's mission and aims. Newly appointed Iruslees receive an induction that indudes making them aware of their legal responsibililles as well as Fareshare Cymru's policies. decision making prrtesses, strategic an and recent financial performance. Al trustees give lttelr time voluntarlty and recerve benefrts from the charity. Oryanisation The Trustees together conslTbJte the Board that Is Fareshare Cymru's govemlng body. They mel four limes in 2025126. The Trustees approve the strategic plan and annual budgets of the ch&ity as well as oversee policy. They also provide oVersh1 on matters of finance and audf(, risk and long-lerm Sustainabllily. The staff team, led by Ihe CEO, is resrx)nsilJe for implementing the strategy and for progressin9 I(PardS agreed key aims and objectives Staff Pay Policy Our approach lo staff pay Is deslgned to onsure Ihat V•e can attracl and relain recruiting high-calibre people lo represent ils inleresls. We also tlieVe in rewarding staff fairly for the job5 that they do ar)d f05tering a posrtNe worknng 8nvlronmenL and we bve our salaries our terms and condition5 refiecl this. People are ernployed al Fareshare Cymru on the basis of the specrflc skills that they bring to their parlicular role. 13
Food Redistribution Wales Limlted Company Llmlled by Guarantee Trustees, Annual Report (Incorporating the Dlrectovs Report) {eonthiuodJ Year ended 31 March 2026 For Fashare Cymru to run successfvlly, a range of skrfls and disciplines are requlred. and we noed to pay appropriately lo ensure that we can recruit people with the rwJhl skills. We also need lo retain them in a compelrtive mark81 where their skills are readily transferable lo other organisalions both in the voluntary sector and in other sectors. Fareshare Cymru fim71y bdievgs In trylng to relain staff for the long-l&rm, developing them arKI benefiliNJ from their growing knThed9e The lowest rale of pay is aayS at least the living wagg sel by LNing Wag8 Foundation and takes into account th& ral8 of Inflallon and organisation affordability. Annual increases are subject to ap[Val by t Botd of Truslee8. FJr•Share UK FareShar6 Cymru Is part of the Fareshare UK network. This means that we have adopted the Fareshare UK food safety manJ81 arKI ils HACCP polty and procedures. We use the Fareshare UK Gladys Onllne Management System to record incoming and outgoing fo1 as well as their online system for Volunteer Managemenl and Communty Food Member Management. In addltion we ag lo follow their branding guidellnes. Fundralslng Apprrjxh Thls year our Income came from membership fees, government. trusts and foundations, corp)r8le partners and in(Jividuals. We are grateful lo every supporter and for every grfl we receive. All our fundraising is managod by Staff and volunteers. The amount of money that we raise from individuals Is small Iless than 1%). We also have a Crowdfunder page Ihal encourages peoF4e to donate Ihdr Ne¢tsr points. R6search was done on whh platforms were best to US8 and JustGNing was d8¢lded on due lo Ils credibility. We do nol employ any [fessional fundrai8lng organi$8tlon8 aTrd rec88 no complalnts about our fundraising praGttts or activiknes in 2025-26. Tru8tees' rosponslbllltlo8 $tat•ment The Iruslegs, who 8re also lt0(S for the purpos6$ of company law. are responsible for prepartng the trustee5' reFrt and the finala1 stslemènts in actrdance applicable law and United Kingdom Accounting Standards {United Kid0M Generally Acceple(l AcrA)unting PractScel. Company law requires the tharty Iruslees to Preparo finandal Statements for each year which give true and fair view of the Stale of affairs of the charitable company and the IncomSng r950ur¢e$ an application of resour¢es, indudiThJ the ino)me and expendilure, for that period. In weparing these financlal 8tstements. the trustees aro required lo: sdecl suitable atxwntlng polies and then appty them o)nsist8nty: observe the methods and prlncSples in the applicable Charit$ SORP.. make judgments and aCUting estimates that are reasonable and PTudenL stste whdher applible UK A(tounlirvJ StarKlards have been followed. subject lo any materf81 departures disdosed and exFlained in the financial statements.. prepare the financral statements on the going Cor basis unless it is inappropriate tr) presume that the charity will continue in business. 14
Food Redistribution Wales Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (conNnu Year ended 31 March 2026 The trustees are responsible for keeping adequate accounllng records that are sufftient lo show 2nd explain the charity's transactions and disclose wilh reagonabl& ac¢urdCy al any lime the finanaal position of Ihe charity and enable them lo ensure that the fina1 statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henc for taking wsonable steps for the prevention and deltIon of fraud and othor irregul8rilies. Each of th6 persons who is a trustee al the date of approval of this reFrfYt Confirms that.. so far as they are aware, the is no relevant audbt InformalK)n of which the charity's audhor18 unaware., and they have taken all steps Ihal they ought lo have taken as a Iruslee to make themselves aware of any relevant audit InforMatn and lo establish Ihal the ¢harity5 auditor Is aware of that informallon. The audltor Is deemed to have been re-appoinled in accordance wlth se¢tkin 487 of the Companies Acl 2006. Small company prov181on8 Thls rewt has been prepared In accordance wrth the provisk)n8 appllcablo to ¢ompanies entitled lo the small companles exempllon. The Iruslees. annual report was appyoved on 27 T1 of Iruslees by.. 2026 and signed on behatl of the board Trustee...... 15
Food Redistribution Wales Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Food Redlstrlbutlon Wales Limited Year ended 31 March 2026 Oplnlon We have audited the finaTrCi statements of Food Redistriixrtion Wales Limted (the 'charity') for the year ended 31 March 2026 whith mpri the ¥tatefflenl of financial activities linduiying income and expenditure account). statement of finarKial posrtion. slalement of cash flows and the relal8d notes, induding a summary of sIgnrfnt accounting pOIleS. The financial reIng framework that has been applied in their pparatiOn is applicable law and Uniied Kingdom Accounllng Standards. Including FRS 102 The Financial Reping Standard applb in the UK and Republic of Ireland {Uniled King(Jom Generally Accepted Accounllng PrxlKe). In our op¥nion the financial statenIS. give a true and fair view of the state of the charitys affairs as al 31 March 2026 and of h8 irming resources and applution of rescMJrces, induding its income and expendilure, for th& year then ended., have been property prepared in accordance wlh United Kiwdom Generalty Accepted A¢¢ounling Praclrx; have been ppa in acurdanGe Yrith the reqU1ments of the Companies Act 2006. Ba818 for oplnlon We conducted our audlt Sn accorda wlth Inlemational Standards on Auditing (UK) (ISAS (UKI) and appllcable law. Our fesponslblllll8s under those standards are further described in the auditor's responsibililles for the audlt of the financlal statements section of our report. We are iThJependenl of the charity in accordance with the ethical requirements that are relevanl lo our audit of the financ181 statements in the UK, including the FRC'S Eth1 Standard, and we have fvlfi'1d our other ethical responsibililies in accordance wth these requirements. We beIve that the audit eviden we have obtained is suffrient and appropriate lo provKJe a basis for ¢xJr opinion. Con¢lu8lons rdatlng to golng cOnM In auditing the financial stslements, we have cOrded th8t the trustees. use of the golng nCern basis of 8ccounling in the prepaT81K)n of the financial statements is appropriate. Based on the work we have perf(xmed, we have r1 identrfth any material uncertaint5 relatlng lo events or conditions that, indwidually or cdlectNely, may ¢ast signrficanl doubt on the parent charity's ability lo continue as a going concern for a pernd of at least hvefve months from when the finandal statements are aulhorised for issue. Our respjnslbillties and the reSPSbli illes of the trustees wlth regpect to golng crn are described in the relevant sections of this reiy)rt. 16
Food Redistribution Wales Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Food Redistributlon Wales Llmited (continuedj Year ended 31 March 2026 Other Inft>rmatlon The other Inforynalion tt)mprises the information induded In the Rep)rt of Trustees, other than the rinancial statements and our Report of the Independent Auditors thereon. The trustees 8rè responsible for the other informalion LKJnlained In the Report of the Trustees. Our opinion on thè financial statements doas nol cover Ihe other information and. except lo the exlenl olhewise expl1¢1Y slated in our reixyi, we do not express any form of aSsUranr o)ndusion thweon. Our responsibilty is lo read the other infr*matM and. in dolng so. consider whether th• other Information is materially inconsistent with the finandal slalemenls or our knowledge obtained in the audll or otherwise appears lo be materially misstated. N we idenlfy $ts¢h material inconsisl8ncies or apparent material misstatements. we are required to delermlne ether there is a malerlal misstalemenl in the financial slalements Ihemselves. If. based on the work we have performed, we ¢onclude that there is a maleflal misslalement of Ihls other infofmalh)n, wo are requlred lo report that fact. We have nolhlng to in this ward Oplnlons on other mattorB proscrlb•d by tho Compan1•$ A¢1 2006 In our oplnion, based on the work undertaken in thè course of Ihe audit.. the information given in the InJst8es' report for the financk41 year for whkh the financlal slalements are prepared is ConStent with the finanGial statements.. and the tru81ees' report hes be&n FKepared in 8c£ordance with appli¢atye legal requlremenls. Matter8 on whl¢h w• are r•qulr•d to report by •x¢option In the light of thg knovAedge and understandlng of the charity and Its environment obtained In the Course of the audit, have Mt identrfied material mis$latements in the Iwsl6es' re[. We have nothing lo report In respect of the followlng mallers in relallon to 1¢h the Compani&s Act 2006 requires us to report to Y( rf. in our opinion: adequate accounting records have not been kept. or retum$ adequate for our audit have Th)1 been receiveil from branches not visited by us.. the fina1 statements are not In agreement th the ac¢ounling records and retums., or certain disdosures of tru5tees' remuneration specrfied by law are not made. or we have nol recefved all the information and explanations we require for our audil. the tftjstees were not entiiled lo prep8re the financial statements in accordance with the Small companie5 regime and lake advantage of the small CoMpans. exemptions in preparing the direct¢xs' report arKI from the uIreMent to prepare a strategic rt. 17
Food Redistribution Wales Limited Company Limited by Guarantee Independent Audltorfs Report to the Members of Food Redlstribution Wales Limited (¢Mtimi•¢l) Year ended 31 March 2026 Responslbllltlos of trustoes As explained me fully in the Statement of Truslees. Responslbilitles, the trustees (who are also the directors of the Charitale company for the purposes of company lawl are responsible for the preparalk)n of the financial stslements and for being salisfEd th8t they give a true and fair vlew, and for such intemal control as the trustees determine ts necessary lo enable the preparation of financlal slatemenls that are free from material misstatement. whether due lo fraud or error. In preparlng the fin8rKlal statements. the trustees are responsible for ass8sslng the charitable company's ability to c¥)ntinue as 8 going c(srwn, disch)sing, as aP6¢#blO. matters rdaled lo going con¢em and using Ihe going concem basls of accounting unl8ss th8 trustees eithef intend lo liquhlale the charitable company or lo cease operalKsns. or have no reallsb'¢ alternatlve bul to do so. Audltoes r•sponslbiliti•8 for th• audit of th• finan¢lal $tat•m•nts Our Objecte$ ar0 to obtain a$OnatIe assurance about whether the charlty financlal statement5 as a whole are free from materlal mlsslalement. whether due lo fraud or error, and Io issue a Report of the Independent Auditors Ihal in¢ludes our opinion. Reasonable assurance is a high level of 8ssuran¢e. bul is not a guarantee that an audit conducted in accordance wlth ISAS {UK} will always delecl a materlal mlsslalernenl %then il exisls. Misstatements can arise from fraud or error and are considered materlal ff, IndSvldually or in the aggregate, they could rea50nably b& expe¢led lo irffluence th& @nOmIC decSslons of users tsken on Ihe basis of these financial stalemerts. Irregularities, Includlng fraud. inslan¢es of non-¢ompllance wlth law3 and regulations. We Idenlffied and assessed the risks of mat¢rlal mlsstal¢m6nl of the financial statements from Irwularilles. whether due lo fraud or errc, and dl$¢ussed these between our audit team membors. We th&n designed and pérformed audrt proeedureg responsive lo t58 risks, induding oblainlng 8udll eVIden sufflcienl and 8ppropn8le lo provrde 8 basis for our opinion. We desl9n OLtr prlureS so 85 to oblain sufficient appropnate audlt evldonce Ihal the financial slalements are nol maten81ty misstated due to rKJnacomplfiaw& th law6 and regu18tions or due lo fraud or error. We ar8 not respon$iblè for pf$vènling non4ompliance and cannot be expeded lo del1 non-compllan¢e with 811 laws and regulatK)ns this responsibilrty IK8S management with the OverSh1 of the Trustees. Based on understsndirKJ of the charity and the charity sector, discussion$ with management and trustees we identified financial repc<ting standards, Charities Acl 2011 and Companies Act 2006 as having a direct effect on the amounts a1 di5dosure$ in tho finan¢ial slatements. As part of the engagement team dis¢u$sion about how and where the charity's financial stalements may be materially misstated due lo fraud, we did not Klenthfy any areas wlh an increased risk of fraud. Our au(Jit F0Urets Induded: completing a risk-assessmenl )ceSS durlng our FAannlng for this audil that speGiFically ¢onsidered the risk of fraud.. enquiry of management about the Charity's policies. procedures and related controls regarding Compliance wlh laws and regulations and rf there we any known inStar5 of non-complkgnce.. examinlng supwting document$ for all material balances. transactnS and disclosures,- enquiry of managemen( about ]rtatnS and daims and inSpeCtn of relevant corPondence., 18
Food Redistribution Wales Limited Company Limited by Guarantee Indepand•nt Auditorfs Report to the Members of Food Redistribution Wales Limited fcontlnu•d) Year ended 31 March 2026 onalyticai OrureS to identfy any unusual or unexpecied rel81ionshlp$'. specifi¢ avdil lesling on and review of areas that could be subject to management overiide of controls and potential bias, most notsbly around key judgments and estimates, induding the carrying value of accruals, provisK)ns and rev6nu6 recognition., considering management override of controls outside of the normal operating cydes including lesling the approprfat8ness of journal entr$ recorded in the generdl ledger and other adjuslmenls mado In the preparation of the financial statements including evaluating the rationale of SignifnI transactions, outsRle the rK)rnial ¢4)urse of charftabie aty. 8Ècause of the inherent limitatnS ol an audrt. lITr is a risk that we wlll nol deteot 811 Irregularities. induding those leadlng to a material misstalernenl in the finarKial statements or non-compliance with regulation. This risk increases the more that c1)mlance th a law or regulation is removed from the events and transactnS reflected in thg finanryal slalements. as we wll be less likely lo become aware of instances of nonrycompliance. Th8 risk is also greater regarding irregularities oecurrlng due lo fraud rather than error, as fraud invdves Intentional concealment, forgery, cdlu5ion, omission or mlsrepresentslion. As part of an audrt in ordance yth ISAS {UKI, we exorclso professional judgment and maintaln profes8ion81 scepllci8m Ihrough(MJt tho aud We also: Identffy and assess the risks of matvial mi8stalemenl of the finan¢ial slalements, ¥thelher due lo fraud or wror, design and perforni audil procedures responsive lo those risks, and obtain audit evidence that is sufflcient and appropr¢ale to provkje a basis for our opinion. The risk of not delecling a material mlsstalemenl SUM•n9 from fraud is higher than for one resulting from error, as fraud may invofve collusion, forgery. inlenlional omis8ions. mlsrepresenlations, or the override of internal control. Obtain an undorslandlng of intemal control relevant lo the audit in order lo design audtt predureS that are approwiale in the ¢ir¢umstare8, trLJl for the purpose of expressing an opinion on th6 effectiveness ol the intemal i>)ntroi. Evaluate th¢ appropriateness of acc¥)unting policies used aThl the reasonableness of accounllng eslim8les and related disclosures made by the truste85. Conclude OD Ihe appropriateness of the trustees. use of the going concem basis of accounting and. based on (he audit evidence obtained, whether a material uncertainty exls15 related to events or conditions that may cast signrficanl doubt on the charity's ability lo wnlinue as a going concein. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modrfy our opinion. Our condusions are based on the audit eviden obtained up lo the dale of our audllorfs report. However, future events or condrtions may cause the charity lo cease lo conllnue as a going concem. Evaluate th8 overall presentalion. struclure content of the financial statement5, including th8 disclosures. and whether the financial slalements repsent the undedying tr8n58clion5 and events in a manner that a¢hVeS fair presentatKJn. We ¢ommunicate wilh those charged wlh governance regarding. among other matters, Ihe anned sGope 2nd timing of the au¢Jrt and signfficanl aud¢t find1r. induding any SnIfICant deficiencies In internal ¢onlrol that we identtfy durirYJ our audit. 19
Food Redistribution Wales Llmited Company Llmlted by Guarantee Independent Auditorfs Report to the Members of Food Redlstrlbution Wales Llmlted iconNnrMd) Year ended 31 March 2026 Usg of our rgport Thls report Is made solely lo the chaws membeis. as a body, in accudanc& wlth Chapter 3 of Part 16 of the Companies Acl 2006. Our audit w(Kk has been und6rtaken 80 that we might slate to the charity's members those matters we are required to slal8 to them in an auditor's report and for no other purpose. To the lullesl extent permitted by law. we do not acpt or assume responsibility lo 8nyone other than the charity aThJ tho thariW$ m&mb8rs as a body. for our audit work, for this reporL or for the opin#)ns we hav8 formed. Farzana Ahmed (Senior Slalulcrty Auditor) For and on bfjha of CaTSton ETL Chartered accountants & stalulory auditor 1st Floor, Tud House 16 Cathedral Road Cardrff CF119LJ Dated.. aq4KA L 20
Food Redistribution Wales Limited Company Limited by Guarantee Statement of Flnanclal Activities (including income and expenditure account} Year ended 31 March 2026 2026 Restricted fund5 Total funds 2025 Unrestricted fund$ Total funds Not• Ineome and endovrnents Don21ions and legades Charitable activities Other trading a¢tivilE¥ Investment In¢ome 481.781 402,823 884,604 1,143,381 148,453 2,007 48,039 1.341,880 53,587 53.587 Total Incom• 402.823 938.191 Exp•ndStur• Expenditure on tharilable adivlties Other expenditure Total expondlturo 9,10 13 460,394 110,600) 449.794 492,730 953,123 110,6001 942,523 1.064.144 492,730 1.064.144 Not l•xp•ndltureVlncom• and n¢t mowment In funds 85,574 189,907) (4,3321 277,736 R•conclllatlon of fund8 Total funds brought foThvard Total fund• ¢arrlod ft>rward 2.282.208 388,830 2.367.782 298.923 2,671,038 2,668.705 2,393,302 2,671.038 The slalemenl of financial activities includes all gains and losses recognised In the year. l income and expenditure denve from continuing activrties. The note8 on pagos 24 to 38 fomi part of these fiftandal stat•m8nts. 21
Food Redistrlbutlon Wales Llmited Company Limited by Guarantee Statement of Flnanclal Posltlon 31 March 2026 2026 2025 Fixed assets Tangible fixed assets 18 342,252 443.378 Currant assets Debtors Cash at bank and In h8nd 19 110,646 2,332.033 2.442.679 343,362 1,913,443 2.256.805 Cr¢ditor•.' amounts falling duo vthhSn ono yfyar N•t curr•nt as8•t8 118.225 29.145 2,227.660 2,671,038 2.671,038 2,324,454 Total 088•ts1•8$ ¢urr•nt11oblll¢l•8 2.666.705 N•t a880t8 2,666,705 Funds ofthe charlty Reslricled funds Unreslrlcted funds.. General unrestricted fvrKI8 DeSnated fund8 298,923 388.830 814,454 1.553,328 1,205,661 1,076.547 2,367.782 2,282,208 Total ¢harlty fund$ 2,666.705 2,671,038 These financial slalemenis were approved by the board of trustees and auihorised for Issue on . and are signed on behaw ol the board by.. &hfohJllattij Tru•lo0 ..Ttust•é Martin Little Simon Harris Company Reglstratlon Number. 07198367 Th• not•s on pago8 24 to 38 form part ofthese financlal statemènts.
Food Redistribution Wales Limited Company Llmlted by Guarantee Statement of Cash Flows Yaar ended 31 March 2026 2026 2025 Cash flow¥ from operating aGtivitio¥ Nel lexpenditureyincome (4,3321 2n.736 Adjustments ff.. Depreciation of 18rwJible fLxed assets Other interest receivab and similar income Gains on disposal of tangible fixed a53ets Accrued income 101,126 (53,5871 (10,6001 (4,453) blJ,360 {48,0391 (16,7161 Changes in.. Trade and other debtors Trade and other ueéilors 232.716 3.471 121,248) 134.461) 247,632 Cash generated from operalfor 264,341 Def8rr6d intom¢ Int¢r¢$l re¢ewed 90,062 53.587 {30,678) 48,039 Nel cash from operats'rvj aclivrti88 407.990 264,993 Ca8h flow$ from Investlng actlvltle• Purchase of tangible assets Proceeds from sale of langiNe assets Nel ca8h fromllused in) inveslrKJ activftles 1187,328) 10,6 10,6 {187.328} Net Incr•a80 In cash and cash •qulval•nts Ca8h and cash equlvalents at baglnnlng of yaar Cash and cash •qulval•nt• al end of year 418.59) 1.913,443 2.332,033 77,665 1,835,778 1,913,443 The notes on pag¢8 24 to 38 form p8rt of Ihese finan¢ial stwtements. 23
Food Redistribution Wales Limited Company Llmlted by Guarantee Notes to the Financial Statements Year ended 31 Mah 2026 General Infomiatlon The charity is a public benefit entity aThJ a private company limited by guardntee, registered in En9land and Wal6s and a regislefed charty in England and Wales. The address of the registered off8 15 Unit SS, Capital Business Park, Parkway, Cardiff, CF3 2PU. Statoment of compliance These financd statements have bean prepar&J in CoMlarKe wth FRS 102, Yhg Finan¢ial Reporting Standard applicable in the UK and the RewblK of Ireland,, the Sialement of Recommended Prath"ce applicable to charities prepIng their accounts in ¥cordance with the Flnancial Reporting Standard apICable in the UK and Republic of Ireland {FRS 1021 (Charities SORP {FRS 102)} and the Companies Act 20C6. Ac¢ountlng pollcles Basls ol preparatlon The flnancLg18tatemenl$ have been wepared on the hlslorical C)sl bas18. The finan¢lal slatèm6nls 8e wepared Fn stertir¥J, whth 18 the fUnctnal currerty ol the 8ntty. Golng concorn Al the lime of approving th8 financial statements, th8 trust have a reasonable expeclalDn that the charity has adequate resources lo continue In operalKJnal existence for the foreseeable future. Thls (he trustees continue lo adopt the going concern basis of accounting in preparing the flnancial 51atemgnts. The tharity heavity relies on Webh Govemmenl fuThJing whh has beèn cOnfiM untll March 2029. Judg•m•nt8 and koy sourcas of estlmatlon uncertalnty The preparation of the financial statements requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other laclors. including 8xpectatlons of future events that are believed lo be reasonable under the clrcumsLqnces. The estimates and underlyirKJ assumptions are revievd on an ongoir@ basis. ReVIsn$ to accounting estimates are recognised in the period in which Ihe eslimate is revisèd where the revision affects only that period, or in the period of the revision and future periods where the revision affects bolh current and future periods. 24
Food Redistribution Wales Llmited Company Llmited by Guarantee Notss to the Financial Statements fwrtth Year ended 31 March 2026 AGGounting polldes (condnwdj Fund accountlng Unreslrrle(J funds aTe avai18ble for use at the discrelion of the Irustees to further any of the ¢harily's purposes. Deslgnaled funds are unrestricted funds e8ftnark by tho trustses for parU(lar future project or commitment. Reslrlcled funds are subjected to restI110n8 on thelr axpendlture declared by the donor or through the terms of an appeal, and fall into one of Iwo sub4as$8s'. r6slricle(l income funds or endowment futMY$. Incomlng resouru• All incoming resources ara IrKluded in the statement of financlal a¢¢NIt9 when enlillemenl has passed lo the charty: h is probab18 Ihal the economic benefits associated with the transaction will flow lo the chanty and the amount can be reliably measurad. The following Spec1¢ policies are applied lo particular ¢aleWI of Income.. income from donallons or gvanis Is re(y)gnised en the 1$ evidon¢e of entitlement lo th8 grft. receiptls wobable and Ils amount can be measured re16gbly. legacy Income is recognised when receipt ts Probable arKI entitlement is established. Income from donated goods is measured at th8 falr value of the goods unless this is Impractical lo measure reliably. in whh case the value Is derive(J from the cost lo the donor or the 85limated resale value. Donated facilities and servl¢es are recognlsed In the accounts when received if the value can be reliabty mèasur. No amounts ar8 induded for the conlribjtion of general voiunleers. Income from contracts for the suppty of seTrl¢es 1$ re¢ognk8ed wilh Ihe delivery of the contracted servte. Thi8 is d8ssified as unrestricted fiJTrJs unless Ihere is a contractual requirement foi rt to spenl on a particular purpose and relumed rf unsp8nl, In whth ¢ase It may be regarded as restri¢led. 25
Food Redistribution Wales Limited Company Limited by Guarantee Notes to tho Financial Statements [¢1 Y•ar ended 31 March 2026 Accountlng polides {cortlftu•dl Rosourc•$ exponded Expenditure is rec(M3nised on an accruals basis as a liability is In¢uffed. Exp8ndilure indudes any VAT which cannot be fully CoVered. and Ls da$sthed und8r headlngs of the statement of flnandal activthes lo which it lates. expenditure on raisirwJ fvnds IUde$ the $ts ol all fundraising activrties. events, non-charitable trading activities. and the sale of doroted goods. expenditure on Chtable activities includes all c051s inwrred by a ¢harty In undertaklng actNilS that further ils charitable aims for the benefit of rts benef188. IncludiThJ those support cosls and costs rdatiThJ lo Ihe govemanc of the ctY apwtbn8d lo chariiable activits. other expenditure indudes all exw¥Jiture that is neither related to ralsing fund8 for the nor part of its expenditure on chtable actNtties. AJI costs are allocated to expenditure categories refiecting the use of the resource. Dlrecl co818 allributable lo a single activity are allocated direcyy to that %livity. Shared costs are apportloned betsveen the 8CtNities they contr1Jte to on a reasonable, juStrfb1e and ¢onslslent basis. Oporatlng1oa5 Lease payments are reeognlsed as an expense over the lease temi on 8 slraighl-line basis. The aggregate benefil of lease incenllves i8 recognised as a reduction lo expense over tho lease term, on 8 Straighl-line basis. Tanglblo a88ets Tangll6 assets e Inllially recorded al $t, and $ubsequ&ntly stsled al 51 less any accumulated deprecialbn and impairment kjsses. Any tangible assets carried at revalued amounts are rets)rded at the fair value al the dale of revaluatlon less any subsequ8nl a¢¢umulated depreei8lb)n and subsequent accumulated Hnpairmenl losses. Depreclatlon Depreci81ion is cakulaled so as to write off the rx)st or valuaboD of an asso1, less ils residual vau8, over the useful e¢onomi¢ lrfo of that a$$d a$ follows". 26
Food Redistribution Wales Limited Company Limited by Guarantee Notes to th• Flnanclal Statamants l¢on Year ended 31 March 2026 Accounting policies (¢onUnu•dJ Dtpreciatlon (cortinu•dJ Freehold property Plant and machinery Flxtures and frttings Molcrf vehldes 4% slraighl line 20% slraighl line 20% slraighl line 25% Strah1 line Impalrniant of as$•t8 A review for indulors of impalmienl 6$ ¢arrled out al e&h rePtIng dale, vith the recoverable amount being eslimaled where such indtstors &xi$t. Where th8 Ca[ng value exceeds the recoverable amount, the asset is Ifflpred accordir*Jly. Prior Impairments are also revwed for possible reversal al each reporting date. FSnanclal instruments A financlal asset or a financ1 liability Is recognised onty when the charty becomes a paty to the ¢onlra¢lual provis1or of the instrument. Basic finanaal instruments are initiglty recogni8ed al th8 amount receIvat8 or payable including any related transaction c0513. Current 8ssels 8nd current Ikqbllltles are subsequentty m8asur8d at ts cash or olh8r consideration expected lo be p¥id w [efved and not discounted. Debt insiruments are 8ub8equenlty measured at amortised cost. 27
Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2026 Accountlng pollcles iconSnu•d) D•finod contributlon plans Contrlbutions to defined conlribuUon plar* we rKognlsed as an 8xp8n5e in the period in which the related seNlce Is provlded. Prepaid contributions are recognwd as an asset to the ex18nt that the pfepaymenl will lead lo a reductK)n in fijture payments or a cash relund. Umlt•d by guaranteo Each member of the Board of Trustees has undertaken lo guarantee the Charitys debts to th sum of£1 each. Donatlons and l•gacl Unre$tr6¢tod Fund$ Restrlcled Total Funds Funds 2026 Donallons Membershlp fees Donallons artsj Fundralsing 284,388 34,253 34,253
Food Redistribution Wales Limited Company Llmited by Guarantee Notss to the Financial Statements (condou•dJ Year ended 31 March 2026 Donations and lrya¢le¥ fcontlRL Unrestricted Funds Restricted Total Fund8 FuThJs 2026 Grant8 We15h Government- FundirtrJ Fare5hare UK Waterloo Foundal WCVA- Energy EffiCncY Scheme Welsh Governmenl - Capital grant Cardrff Thir¢J Sector Council grant Hodge Foundation Simon Gibson Trust The Mwndance Foundalion Other Grants 348.500 49.533 348,500 50,273 740 4.790 4.790 20.0 135.400 7,01)0 135,4(KJ 481,781 402,823 884,604 unreStrted Fund8 Ro$trl¢ted Total Funé8 Funds 2025 Donatlona Membership fees Donations and Fundrdising 279.888 11,640 279,888 11,640 Grants Welsh Govemment- Funding Fareshare UK Waterloo Foundation WCVA - Energy Effuency S¢heme Welsh Govemment - Capital grant Cardrff Third Sector Council grant Hodge Foundation Simon Gibson Trust MoondarK* Foundalkjn Other Grants 423,500 42,000 30,01)J 27,168 120,OC¥J 423,500 90,185 30,000 27.168 120.000 1,000 60,000 48,185 60,OC¥) 100.000 100,000 439,713 703.668 1,143,381 Charitablg activlties Restricted Total Funds Funds 2026 Restrlcled Totsl Fund$ Fund5 2025 RKW Project- Cardrff County Council I SBRI 148,453 148.453
Food Redistribution Wales Limited Company Limlted by Guarantee Notes to the Flnanclal Statements (conthiwdj Year ended 31 March 2026 Other trading activities Unrtricted Tolal Funds Unrestricted Total Funds Funds 2026 Funds 2025 Other Income from other tradiThJ activities 2.007 2,7 Invutmfrnl In¢om¢ UeStrICted Total Funds Unreslricled Totsl Funds Fur¥Js 2026 Funds 2025 Benk Interest ffjceNable 53,587 53.587 48,039 48.039 ExndItur? on charitsbl• Xtfvlt1 by fund ty Unrestrlcted Funds Restrfcled Total Funds Funds 2026 ActttY Support CO8t8 385,192 75,202 460.394 492,730 877,922 75,201 492.730 953,123 Unr88Mcled Funds Restricted Total Funds Funds 2025 Activity Support costs 214,070 74,549 288,619 775.525 989.596 74,548 775.525 1,W,144 10. Expondltur• on charftsbl• aGtlvltl•8 by actlvlty ty Acliwlies undertaken Gr8nl fundi direclly of aclNsties Sup1 Total fund$ costs 2026 Total fund 2025 ActNity Governance costs 847,922 S8.838 16.363 936.760 16.363 1,050,273 13,871 847.922 30.0 75.201 953,123 1,064,144
Food Redistribution Wales Llmited Company Limited by Guarantee Notes to the Flnanclal Statements {continu Year ended 31 March 2026 11. Analysis of support costs Analysis of support costs activty Total 2026 Totsl 2025 Staff costs Premises General gfflce GovernarLe costs 48,562 163 10,113 16.363 48,562 163 10.113 16.363 50,711 929 9,037 13.871 75,201 75.201 74.548 12. Analy818 of grants 2026 2025 Grants to Instltutlons Grants to institulions 30.000 30,000 Total grants 30,000 30,00) During the year £30.OLKI12025: £30,OLVJ) was awarded to F8reShar8 North Wales. 13. Other expandUre Unrestrlcled Tal Funds Unre5tricled Total Funds Funds 2026 Funds 2025 Loss on diswsal of tangible fixed asse15 held for Gharity's own use (10.600) (10,6001 14. Net1oxpendltureylncom• Net {expenditureYincome is $taled aftw chargIn{C*edIng)'. 2026 2025 Depreciation of tangib fixed assets Gains on disposal of tangible fixed assets 101,126 (10,600) 15. Audltors r•mun•ration 2026 2025 Fees payale for th8 aud5t of the financial ststements 10,836 10,260 31
Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financial Statements {conth10} Year ended 31 March 2026 16. Staff costs The total staff (x)sts and employe? beneffts for Ihe TlIng period are analysed as follows.. 2026 2025 Wages and salaries Soclal securlty costs Employer contrlbutlons to penslon an8 432,243 41,827 11,551 485.621 454,148 35,356 12.608 502.112 The average h8ad count of 8mployees durfng th8 yéar was 17 {2025.. 18). The average number of full-lim8 •]vlvalent employees durlng the year is analysed as folk)ws.' 2026 No. 2025 Number ol staff 14 17 No employee received employe8 benefits of nTr)re than £60,OCKJ dunng trbe year {2025'. Nill. Key Management Pèrsonnol Key management personnel include 811 pefson$ that have aulhorty and respon81bllty for planning, directin9 and ntrollIng Ihe trtIeS of the charity. The lolal compensallon paid lo key management personnel for sel¢eS prOved lo the chanty was £160,38612025.' £165,656). 17. Tru8t•• remuneradon and •xpan8e8 AJI Trustees are enlitled to cL9im reimbursement ol the cost of altending meellngs bul waNe the right. No trusteels) received any remuneration ¢Junng the year {2025'. £nill 18. Tanglblo Ilx•d 0880ts Freeld Flanl and Flxiures and propty machinery fiitings Motor vehicles Equipment Total Cost At 1 Apr 2025 Disposals At 31 IAar 2026 225,000 445,811 9,247 445.805 11.299 1.137.162 (3,704) {101,807} (11.299) 1116.8101 5,543 343.998 1,020,352 225,OIXI 445,811 D¢pro¢latlon At 1 Apr 2025 Charge for the year Disposals Al 31 Mar 2026 117.OCKI 272.183 9.247 284.975 10.379 693,784 46.856 44,350 920 101,126 (3.704) (101.807) (11.2991 1116,8101 5,543 227,518 678.100 126,orJ) 319,039 Carrying amount At 31 Mar 2026 126.772 116.480 342.252 At 31 Mar 2025 108.000 173,628 160,830 920 443.378 32
Food Redistribution Wales Limited Company Llmited by Guarantee Notes to the Financial Statements f¢o•thu¢dJ Year ended 31 March 2026 19. Debtors 2026 2025 Trade debtors Prepayments and accnjed income Other debtors 2,234 4,191 104.221 14.571 17.545 311,246 110,646 343.362 20. Credltorn: amountsfalllng duo wlthln on• yoar 2026 2025 Trade cfedllors Accruals and deferred income Othei credAor5 4,305 111,506 2,414 118,225 2,817 25,897 431 29,145 21. P•n•lons and othw post r•tlr•ment b•n•ffts Definfjd contrSbutlon plani The amount re¢ognised in irts)me or expondlture as an expense in Trlalion to defined contributson plans wa5 £11,551 {2025'. £12,608).
Food Redistributlon Wales Llmlted Company Limited by Guarantee Noles to the Flnanclal Statements f¢onVnwd) Year ended 31 March 2026 22. Anolysl$ of charftable funds Unrè8trict•d funds At 31 March 20 26 Al 1 April 2025 Income EX[dIture Transfers General funds Deslgnated funds.. Flxed asset fu1 Capital SerVe Bu$ines$ development reservo Envlronmenlal improvemenls reserve Repairs reserve IT Equipmenl and Phones Unfunded capital and reinstatement of premis•$ Premises ¢ons0lKlatn Rebranding 1.205.661 535.368 {449.794) {476,781 > 814,454 54,547 465.000 (11.2191 (225.O¢X)) 43.328 240.000 150.000 (1SO.000) 102.C 1.0[m1 {22.(M)O) {20,0) 80,000 80.000 (55,000> 150,CQO 170.0001 1.000,0 30,000 80,000 1.(K)O,000 30.000 2,282.208 535.368 {449,794) 2,367,782 Al 31 March 20 25 Al 1 Awll 2024 Incomè Exp8ndllur8 Transfers General funds DosIgnat fund$.' Fixed assel fund Capital reserve Business developm1 reserve Environmental impTovemgnls T8serve Repairs reserve IT Equipment and Phone5 960,232 489,759 1288,619} 44,289 1,205,661 55.836 500.000 11.289} 135,000) 54,547 465,CKIO 150.C#XI 150,LKIO 110,(KK) 1LKI,LKIO 18,OC(I) 102,000 100,000 55,OC(I
Food Redistribution Wales Limited Company Limited by Guarantee Notes to tho Flnanclal Statements (condnwdj Year ended 31 March 2026 Unfunded capital and reinslalement of premises Premises consolidation Rebranding 150.CKJO 150,000 2.081.068 489.759 1288,619> 2,282,208 D•signat•d fvnd$: Flxed assgt fvnd Relates lo the Iransfvr of the unrestricted net book value of its fixed assets. Capital rgsorvo To maintain andlor Increase the asset POsilh)n of F8reshare Cymru lo help maxlmi8e opportunities lo garale Income andlor Invest in fvture kYoje¢ts. Buslness development reserve To furKI Investment in new proje¢l$ and d¢velopments th81 lead lo the improved su8talnabilty and reach of the Fareshare Cymru. Thi$ may indude developing a new 0r81k)nal actNity or developing into a new area. Th¢$ fund 18 no knnger required and now Induded wSthln premises ¢onsolidatn. EnvlYonment•l Impro¥•m•n¢$ r•s•The To luThJ investment in infraslruclure or capllal that Imwoves the envwonmenlal performance of Fareshare Cymru. Repalrs res•Th• To fund unexpected repairs thal are needed to the building IT Equlpm•nt and Phones To fund upgrades lo IT syste. Thls fiJnd is no loroer required and now included wRhln premises ¢on$olidalion. Unfunded capltal and rnlnstat•men¢ of prnmls•s To Fund unfunded capital costs and improve the premlses and the eThJ of the lease. Pxomlses consolldaflon To fund the move lo a single unit. Rebranding To fund the retxarKling as a result of the FSUKIFelix merger. 35
Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financial Statements (Cle) Yoar ended 31 March 2026 22. Analysis of charitable funds (t Ro8trlGtod funds At 31 March 20 28 At 1 Awil 2025 Income Expendilure Transfers Capital Devekrf)ment fund Wèlsh Govemment Funding Welsh Govommont- Capital grant CardFff Third Sttlor Council Fareshare UK WCVA 107,999 (9.CLYI) 348.500 (348,500) 213,930 (63,128) 150,802 3,972 39.996 22,933 4,79) 49,533 15,818) (59,8801 {6.404) (492,730) 2.944 29.649 16,529 388.830 402,823 298,923 At 31 March 20 25 At 1 Atyll 2024 IrK>)me Expenditure Transfers Capital Development fund Welsh Government Funding Waterloo Foundallon Welsh Government- Capllal grant RKW Project- Cardlff County Councll I SBRI Cardrff Thlrd Sector Council Fareshare UK WCVA Hodge Foundatlon 116,999 21,Crf)O 130,rM) 107,999 423,0 1423,5001 {30,0001 118,231 120,0 (24.3011 213,930 148.453 (148.4531 <2.0281 {53,0081 14,2351 {60,C(JOI {775,525} 3.972 39,996 22,933 72,004 21.000 27.168 eAJ.000 312.234 852.121 388.830 36
Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Flnanclal Statements (conkn Year ended 31 March 2026 22. Analysls of charitable funds Capltal development fund - funding was received from Welsh Govemment via Cylch towards the cost of the freehold propety and associated fLxiures. equipmerht and motor vehicles. The movemerbt on thè fund represents the annual depreciatth l in respect of the restricted assets. Welsh Government Fundlng - fundlng was received from Welsh Gov&mmonl to provide the charty with financial assistance with ils core expenditure lo enable lh8 charity lo work towards fighting food poverty by tackling foo(1 waste. Watorloo Foundallon - funding was re¢eNad last y trA¥ards tharity rxoje¢t costs. Welsh Government Caplf•l Grnnt- Fundlro was received towards wrchase of capltal ilem8. Tha movement on the fund represenls the annual deprecration charge in reSpt of the restricted a8sels. Cardlff County Councll wior ye•r- SBRI Project servic8 level agreement lo undertake an innovation and development project entiiw Yhe Sustainable Project and Supply of Foc*J ChallervJ8" and feasibilty sludy. Cardlff Thlrd Sector Councll. funding was recelved towards Shared Property grant fund 202&24 brought foAvard and £4.790 recelved during the year towards equipment grant scheme. The balance represents ¢apital funding carried foMard whth will decrease by an annual depr8¢lalion charge. FaroSIMr• UK-ropresents caprtal fvn(Jing of £29,649 thi8 will decrease by an annual depreciation charge. Dunn9 the year £2S,800 was receNed towards the employabillty proiacl and £23,005 towards regional food sourcing o)sls. WCVA- FundSng recelved towards and Energy Eificlency Sch8m8 capital fijndlng of solar panels n Ihe prevh)us year. The movement on the furKi repr8senl$ the annual deprecialKsn chargé In respect of the restricted assel$. Hodge Found•tion grant of £60.000 receNed last year was towards the Expansion Prolecl. 37
Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financlal Statements (eonthw Year ended 31 March 2026 23. Analysis of ngt assets botwogn funds Unreslrlcted Funds Restrlcled Total Funds Funds 2026 Tangible fixed assets Current assets crltOrS less than 1 year Nèt $•t$ 43,329 2.442,679 {118.226} 2,367,782 298.923 342,252 2,442,679 {118,2261 298,923 2,666,705 Unre¥trthd FuThJ$ Restricted Total Funds Funds 2025 TarwJlble flxed assets Current assets Credrlors less than 1 year Not aJ¥et¥ $4.S48 2.256,805 129.145> 2.282.208 388,830 443,378 2,256.805 {29.1451 2.671,038 388.830 24. Analy818 of Chang In net dèbt At At 1 W 2025 Cash flows 31 Mar 2026 Cash at bank and in hand 1.913.443 418.5 2,332.033 25. Opgratlng leas• commltm•nts Tho total future mlnlmum lease payments under nonnCelIable operatlrvj leases are as follows: 2026 2025 Not later than 1 year Later than 1 year and not laler Ihan S years 30,958 36,046 67.004 40,145 105,548 145,693