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 Busir￿S 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: Through￿1 2025126, ￿ continued to lum surplus fwd Into OPP￿unItleS 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 foc*J 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 s￿n￿￿nI soclal. environmental and economic value created through f￿d 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 rel￿f of wvety and the preserVal￿n and promotion of good nutrition, good health and soclal improvement among peO￿e 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 ￿lIe￿ort and rediStriP￿￿N)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$lel and ils adverse environmental Im￿1$. 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$8d people in Wale8 lindlviduals who are homeless, unemployed, poor. isolaledl. The chanty eng89as IndlvKluals as volunteers In ils work and Ihls 6s open lo all members of th6 Community. indudlng the most m8rginalised. This also provides opportunities for volunle8rs and olh6rs lo gain recognition. Including accreditation, for the skills they have acquired whlle working wllh Fareshare Cymw. In additlon through th8 use of surplus food we are reduciro waste and reducing carbon emissions Food Redistrlbutlon Wales Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (Contin￿￿) Year endod 31 March 2026 Achlevemonts and performanc• Our Impact Throughout 2025128. we lumed surplus food into opportunities lo strengthen communities. improve wellbeing and protect the environment acxoss Wales. 2,966.966 meals created 1120 lonnes of food redistrilxjted 58 Tonnes of food was Welsh produce re(iistributed through sur￿U3 with Purpose Cymru 3850 lonnes of C02 saved 131 Votunleers gave 11,474 hours of thew lime 286 Charllleg a￿1 community groups suppcrfted xross Wales Our Achl•v•ments 2025126 was a year of growth, ￿lIab￿atron and visibility for Fareshare Cymru. Through Improvements In operallonal eff￿￿9r￿ and ways of worklng. we were able lo in¢w$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, prOdu￿r$ and supplws while encouraging MO￿ busin8ss8s to redistribule surplus food a¢ross Wales. We also Increased our pr￿ence al naliond events and wthin conv8rsallons around food su51ainabillly aTrJ community support. This included allending the Royal W6l$h Show with our immers￿8 Field lo Fork virtual reality experience, hdpirwJ false awareness of surplus food fedNstribution and ils impact awss Wales. Fareshare Cymru also contributed lo wider dixus8k)ns on food systems and food insgcurlty through partlcipation in events including the Blaenau Gwent Food Summit, Swansea's Falmess for All workshop. and Y Farchnad at the Senedd. Fundraising and supporter engagement grew throvghoul th8 year. During the Bio GNe Green Match Fund campaKJn, supporters helped raise £11,866, equivalent to n>Jre than 47,000 meals for mmunrties across Wales. We also successfully launched the Meals wlh Meaning Christmas campaign aNJ look part in the Tesco Winter Food Collection. suptx)rted by volunteers arKI communities across W3les. Throughout the year, we ¢onllnued higNlghtirKJ th8 work of Community Food M8mb8rs across Wale$ through V￿rts, 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 nat￿nal vdunleer awards from Far&sha￿ UK. We also ¢onlinued our work through the InvesllrKJ In v￿UnteerS 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 iMp￿tsnt part of the year. Volunteers Week was marked wrth a warehousé BBQ and a week of staff-made cakes. v*hile 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 eXp￿￿nce, AIyEon satd.. very tlm• I go 1￿m• 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 $lory h*Jhli9hl$ 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 aVaila￿e volunteering days. We hosted 35 corpc*ate 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 mill￿n 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 femal￿d a key priC￿lty throughout the year. Alongside developing r￿W 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 C￿reach. 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 Collab￿atiOn, 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 Ident￿ed 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 PX*lenlld opportunttw8 for cdlatwyal￿Jn 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 Considerat￿n5 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 addit￿n81 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, i￿luding FQtaloes, leeks aThJ ¢*￿e$8. Thls surplus food redlslribution prevented an eslimated 1.099 tonnes of CO2 emissions that would otherwls8 have been generaled rf the foc*J had gone to landfill. 11 also helped ueale approximately 845.000 meals for peoF4e experiencing food Inse￿rity a¢ross Wale$. One of Ihe new partners a￿esSIng the fund thi5 year wes Monarchs Crackers in Wesl Wales. Through this partngrship, surplus thee5e crackers and l*￿eSe 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 d1￿ctlY 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 cOnfide￿e 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 EmplO￿bIlity Throughout 2025126, Fareshare Cymru Conti￿ lo supwrt people a(xoss Wales lo buikl confidence, gain practical experience and develop new s￿11$ 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. part￿1panIS developed transferable workplace skills. confidence and rouliw in a real wol￿ng environment. Alongslde praclul experlenee, participants were supported lo improve w811tréing. build social connections and exptore pathways into further training, volunteoring and em ￿9y￿ent. 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 ￿ll￿TrUe8 to gTOW, we remain c4)mmitted lo c¥eating opporlunllies Ihal not only reduce f¢Jod waste and Stre￿then 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 v￿der 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 ne￿Ork. 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 mem1￿ls. 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 SC￿6 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 s￿11$ 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 p￿PIe who are unable to cook for tr￿MselVes. 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¢M￿rS 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 W￿er 5upp¢yL leaming 8ThJ wellbeing. With support from Fareshaw Cymru, CVW re￿iVed 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 supp￿1 I￿￿ghoUl 2025126. Thelr funding has enabled us to contlnue ddiveiing our servKes, increase our reach and support mr*e 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 Gr￿p 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 resil*nl 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 produ￿5 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 disCuss￿nS 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 ReSi1￿nI%. 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 S￿lI1en 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 $laff. volunteers and Communty Foc*J Members in supporting local communities. ongsld8 natlonal •vènts and policy engagement. we ￿ntinUed visrting Communlty Food Members and local projects across Wale5. helping share stories of impact and ¢el¢bral6 the work taking place IhSn comMun￿eS every day. These visits strenglhened relationships. Increased undersianding of local needs and highlighted the many ways can suppori wellbélro. connection and opportunty. Qper•tlon8 In September 2025. we moved our day-l04ay operaltons to the M1 warekc￿e. This transillon enabled increased focrtj Ihrwghwl by making full use of Storage cap8dty across both warehouse8. allowing us lo support a greater number of charit￿$ 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-l￿daY 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 I￿r 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 one￿ff projects In the prevlous year, including SBRI funding for the Redistribution Kitchen Wales project and additional apital fundlng from the Welsh Govemmenl for re￿aceMent vans. Similarfy, expenditure decreased from £1.C64 millb?n to £943k, mainly reflectin9 the direct Costs as$rKialed wrth the Redistribution Kitchen Wales project in the previous year. therall. this resulted In small def￿11 during the year, which was funded from general reserves. One notable positive change was an impr¢)ven*nt in our cash positr)n of £418k, primarity due to a redu¢llon in debtors. Summary ofreserves At the year end unrestrlcted reseNes were £2.367,782 (2025." £2,282,208). of whkh designated reserves amounted to £1.553,32812025: £1,076,547) resuwing in general funds of £814,45412025. £1,205,661}. Reslricled reserves amounted to £298,923 12025: £388,830). The level of free reserves available wa8 £814.454 {2025. £1.205.661}. Rlsk management Fareshare has a rl$k management strategy that eentres on mainlalnlng a rlsk reg181er. The inltSal Identif￿atIon 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 foll￿4¥1n9 main areas: Food safety- Food redistributlon Is the essence of whal do. Foc*Y 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 reC￿rted 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. Mitig8t￿n. We maintain an up-104ate health and safety manual and ensure ￿nSIStenI communication IhfC4Jgh training and induction programmes. In addition lo this, we have carr￿d 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 LJpJal*Y. A fire rlsk assessment has been carried out with quotes being sought for remedial actK>n. Income ger￿atIon - A laTg8 propOrt￿n 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 refurb*hment 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 del￿er cooking skills training to volunteers and SUPFQrt CFMS lo get the most out of the food they re¢eive by ddivering cooking demonslralions and c*e8ting 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 V￿Unteer 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 Fty￿rft TnKk training in4K>use and I￿k 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, en￿rOnmentallY and economlcally 80un(I solut￿￿ to tho foc*J 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 A5￿￿lat￿n adopted on 22nd March 2010. We began operations in July 2011. Staff Team Ch￿f Executive Officer-sarah Gemiain Head of Operations - Gery Molan Head of Devdopmenl- Kat￿ Padr￿Id Flnance Manager- Sarah Williams Ernployability Lead - Jessica Howells (untd February 2026) Food Sourcing Lead- Carmai Chung Fundraising Lead- Step￿n Wornham (until June 2025) Marketing & Communtations Lead - Bethan Cook {f￿M 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 CU1h￿rts0n (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 re*leclion 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 oVers￿h1 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(P￿ardS 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 t￿lieVe in rewarding staff fairly for the job5 that they do ar)d f05tering a posrtNe worknng 8nvlronmenL and we b￿￿ve 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 Fa￿share 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 knTh￿ed9e The lowest rale of pay is a￿ayS 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￿ Bot*d 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 fo￿1 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 wh￿h 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 rec8￿8￿ no complalnts about our fundraising praGttts or activiknes in 2025-26. Tru8tees' rosponslbllltlo8 $tat•ment The Iruslegs, who 8re also ￿l￿t0(S for the purpos6$ of company law. are responsible for prepartng the trustee5' reF￿rt and the fina￿la1 stslemènts in act￿rdance applicable law and United Kingdom Accounting Standards {United Ki￿d0M 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 pol*ies and then appty them o)nsist8nty: observe the methods and prlncSples in the applicable Charit￿$ SORP.. make judgments and aC￿U￿ting estimates that are reasonable and PTudenL stste whdher appli￿ble 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 fina￿￿1 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 del￿tIon 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 InforMat￿n 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 T￿1 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 Lim*ted (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 sIgnrf￿nt accounting pOI￿leS. The financial re￿Ing framework that has been applied in their p￿paratiOn is applicable law and Uniied Kingdom Accounllng Standards. Including FRS 102 The Financial Rep￿ing Standard appl￿b￿ in the UK and Republic of Ireland {Uniled King(Jom Generally Accepted Accounllng PrxlKe). In our op¥nion the financial state￿￿nIS. give a true and fair view of the state of the charitys affairs as al 31 March 2026 and of h8 ir￿ming 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 p￿pa￿ in acurdanGe Yrith the reqU1￿ments 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 Eth￿1 Standard, and we have fvlfi'1￿d our other ethical responsibililies in accordance wth these requirements. We beI￿ve that the audit eviden￿ we have obtained is suffrient and appropriate lo provKJe a basis for ¢xJr opinion. Con¢lu8lons rdatlng to golng cOn￿M In auditing the financial stslements, we have cOr￿ded 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 r￿1 identrfth any material uncertaint￿5 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 reSP￿S￿bli illes of the trustees wlth regpect to golng c￿rn 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 expl￿1¢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 ConS￿tent 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 fina￿￿1 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 CoMpan￿s. 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 m￿e fully in the Statement of Truslees. Responslbilitles, the trustees (who are also the directors of the Charital￿e 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 aP￿6¢#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 Object￿e$ 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 t￿58 risks, induding oblainlng 8udll eVIden￿ sufflcienl and 8ppropn8le lo provrde 8 basis for our opinion. We desl9n OLtr pr￿lureS 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 del￿1 non-compllan¢e with 811 laws and regulatK)ns this responsibilrty IK8S management with the OverS￿h1 of the Trustees. Based on understsndirKJ of the charity and the charity sector, discussion$ with management and trustees we identified financial repc)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 rep￿sent the undedying tr8n58clion5 and events in a manner that a¢h￿VeS 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 S￿nIfICant 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 ac￿pt 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 DeS￿nated 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 Ma￿h 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 off￿8 15 Unit SS, Capital Business Park, Parkway, Cardiff, CF3 2PU. Statoment of compliance These financd statements have bean prepar&J in CoM￿larKe 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 prep￿Ing their accounts in ¥cordance with the Flnancial Reporting Standard ap￿ICable 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 8*e wepared Fn stertir¥J, whth 18 the fUnct￿nal 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 wh￿h 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 reviev￿d on an ongoir@ basis. ReVIs￿n$ 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 restI￿110n8 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¢¢NIt￿9 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 Spec￿1¢ 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 wh￿h 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 I￿Ude$ the ￿$ts ol all fundraising activrties. events, non-charitable trading activities. and the sale of doroted goods. expenditure on Ch￿table activities includes all c051s inwrred by a ¢harty In undertaklng actNil￿S that further ils charitable aims for the benefit of rts benef￿18￿￿8. IncludiThJ those support cosls and costs rdatiThJ lo Ihe govemanc* of the c￿tY apwtbn8d lo chariiable activit￿s. other expenditure indudes all exw¥Jiture that is neither related to ralsing fund8 for the nor part of its expenditure on ch￿table 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 contr1￿Jte to on a reasonable, juStrf￿b1e 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 Tangll￿6 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% Stra￿h1 line Impalrniant of as$•t8 A review for indulors of impalmienl 6$ ¢arrled out al e&h reP￿tIng dale, vith the recoverable amount being eslimaled where such indtstors &xi$t. Where th8 Ca[￿ng value exceeds the recoverable amount, the asset is Ifflp￿red accordir*Jly. Prior Impairments are also revwed for possible reversal al each reporting date. FSnanclal instruments A financlal asset or a financ￿1 liability Is recognised onty when the charty becomes a paty to the ¢onlra¢lual provis1or￿ of the instrument. Basic finanaal instruments are initiglty recogni8ed al th8 amount receIvat￿8 or payable including any related transaction c0513. Current 8ssels 8nd current Ikqbllltles are subsequentty m8asur8d at ts cash or olh8r consideration expected lo be p¥id w [￿efved and not discounted. Debt insiruments are 8ub8equenlty measured at amortised cost. 27 Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2026 Accountlng pollcles iconSnu•d) D•finod contributlon plans Contrlbutions to defined conlribuUon plar* we rKognlsed as an 8xp8n5e in the period in which the related seNlce Is provlded. Prepaid contributions are recognwd as an asset to the ex18nt that the pfepaymenl will lead lo a reductK)n in fijture payments or a cash relund. Umlt•d by guaranteo Each member of the Board of Trustees has undertaken lo guarantee the Charitys debts to th sum of£1 each. Donatlons and l•gacl Unre$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 EffiC￿ncY 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 unreStr￿ted 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 Unr￿tricted Tolal Funds Unrestricted Total Funds Funds 2026 Funds 2025 Other Income from other tradiThJ activities 2.007 2,￿7 Invutmfrnl In¢om¢ U￿eStrICted Total Funds Unreslricled Totsl Funds Fur¥Js 2026 Funds 2025 Benk Interest ffjceNable 53,587 53.587 48,039 48.039 Ex￿ndItur? on charitsbl• Xtfvlt1￿ by fund ty Unrestrlcted Funds Restrfcled Total Funds Funds 2026 Act￿ttY 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 Sup￿1 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 expand￿Ure Unrestrlcled T￿al 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 $taled aftw chargIn￿{C*ed￿Ing)'. 2026 2025 Depreciation of tangib￿ fixed assets Gains on disposal of tangible fixed assets 101,126 (10,600) 15. Audltors r•mun•ration 2026 2025 Fees payal￿e for th8 aud5t of the financial ststements 10,836 10,260 31 Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financial Statements {conth1￿0} Year ended 31 March 2026 16. Staff costs The total staff (x)sts and employe? beneffts for Ihe ￿￿TlIng period are analysed as follows.. 2026 2025 Wages and salaries Soclal securlty costs Employer contrlbutlons to penslon ￿an8 432,243 41,827 11,551 485.621 454,148 35,356 12.608 502.112 The average h8ad count of 8mployees durfng th8 yéar was 17 {2025.. 18). The average number of full-lim8 •]vlvalent employees durlng the year is analysed as folk)ws.' 2026 No. 2025 Number ol staff 14 17 No employee received employe8 benefits of nTr)re than £60,OCKJ dunng trbe year {2025'. Nill. Key Management Pèrsonnol Key management personnel include 811 pefson$ that have aulhorty and respon81bllty for planning, directin9 and ￿ntrollIng Ihe ￿t￿rtIeS of the charity. The lolal compensallon paid lo key management personnel for se￿l¢eS prOv￿ed 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 Free￿￿ld 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 fu￿1 Capital ￿SerVe Bu$ines$ development reservo Envlronmenlal improvemenls reserve Repairs reserve IT Equipmenl and Phones Unfunded capital and reinstatement of premis•$ Premises ¢ons0lKlat￿n 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$.' Fixed assel fund Capital reserve Business developm￿1 reserve Environmental impTovemgnls T8serve Repairs reserve IT Equipment and Phone5 960,232 489,759 1288,619} 44,289 1,205,661 55.836 500.000 11.289} 135,000) 54,547 465,CKIO 150.C#XI 150,LKIO 110,(KK) 1LKI,LKIO 18,OC(I) 102,000 100,000 55,OC(I Food Redistribution Wales Limited Company Limited by Guarantee Notes to tho Flnanclal Statements (condnwdj Year ended 31 March 2026 Unfunded capital and reinslalement of premises Premises consolidation Rebranding 150.CKJO 150,000 2.081.068 489.759 1288,619> 2,282,208 D•signat•d fvnd$: 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 gar￿ale 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 0￿r81k)nal actNity or developing into a new area. Th¢$ fund 18 no knnger required and now Induded wSthln premises ¢onsolidat￿n. 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 (Cl￿￿￿￿e￿) 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 reSp￿t 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$. Hodge Found•tion grant of £60.000 receNed last year was towards the Expansion Prolecl. 37 Food Redistribution Wales Limited Company Limited by Guarantee Notes to the Financlal Statements (eonthw Year ended 31 March 2026 23. Analysis of ngt assets botwogn funds Unreslrlcted Funds Restrlcled Total Funds Funds 2026 Tangible fixed assets Current assets cr￿ltOrS less than 1 year Nèt ￿$•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 non￿nCelIable 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