2025-10-31-accounts - Launceston Foodbank Ltd

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Company registration number: 07841161 Charity registration number: 1146082

LAUNCESTON FOODBANK LTD TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

T&A Kirk Ltd

Launceston Foodbank Ltd Contents

	Page
Trustees' Report	1—3
Independent Examiner's Report	4
Statement of Financial Activities (including Income and Expenditure Account)	5
Comparative Statement of Financial Activities (including Income and Expenditure Account)	6
Balance Sheet	7
Notes to the Financial Statements	8—13
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities (including Income and Expenditure Account)	14—15

Launceston Foodbank Ltd Company No. 07841161 Trustees' Report For The Year Ended 31 October 2025

The trustees present their report and the financial statements for the year ended 31 October 2025.

Objectives and Activities

Aims and Objectives

The charity's object is to relieve poverty. The policies adopted in furtherance of this object are to supply non perishable food to people in need of emergency supplies in the Launceston and surrounding areas of Cornwall and there has been no change in these during the year.

Public Benefit

The charity's object is to relieve poverty. The policies adopted in furtherance of this object are to supply non-perishable food to people in need of emergency supplies in the Launceston and surrounding areas of Cornwall and there has been no change in these during the year.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit, and have also paid due regard to wider Charity Commission guidance when determining the activities the charity undertakes.

Achievements and Performance

Main Achievements

Significant activities and achievements against objectives

Full details of the activities and achievements during the year are contained in the separate annual report.

Financial Review

Financial Position

Increasing costs have impacted the financial position throughout the year and efforts have been made by the Trustees to reduce costs and increase income. The fundraising shop continues to provide the majority of funds for the main activity.

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The level of reserves decreased during the financial year by £6000.

Structure, Governance and Management

Governing Document

The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Tian Bersey, Peggy Lane, Frank Arscott, Charlie Reynolds, Eleanor Wise, Claire Boundy, Sharon Baxter

Trustee Selection Methods

Recruitment and appointment of trustees. Trustees are recruited from the local community based on the knowledge, skills and experience needed to ensure the foodbank fulfils its charitable purpose and undertakes the activities it was established to do.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Page 1

Launceston Foodbank Ltd Trustees' Report (continued) For The Year Ended 31 October 2025

Additional Note

Organisational structure.

The trustees delegate most day to day matters to a paid Project Manager and meet quarterly to agree policy matters and oversee the running of the charity. Due to financial pressures in the year ended 31st October 2025 the trustees met an additional four times to discuss finances.

During the year the charity benefitted from 4,435 volunteer hours.

Relationship with related parties Launceston Foodbank is affiliated to Trussell but is independent in its own right.

Major risks.

The trustees have assessed the major risks to which the charity shop is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks

Reference and Administrative Details

Trustees

Eleanor Lewis (appointed 26/02/2025) Francis Arscott (appointed 26/02/2025) Claire Boundy (appointed 26/02/2025) Sharon Baxter Charles Reynolds Peggy Lane Tian Bersey

Charity Number

1146082

Company Number

07841161

Independent Examiner

Chris Cooling T&A Kirk Ltd Pool Innovation Centre Trevenson Road Redruth Cornwall TR15 3PL

Page 2

Launceston Foodbank Ltd Trustees' Report (continued) For The Year Ended 31 October 2025

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

The trustees' report was approved by the board of trustees and signed on its behalf by:

Date

Page 3

Launceston Foodbank Ltd Independent Examiner's Report to the Trustees of Launceston Foodbank Ltd For The Year Ended 31 October 2025

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2025.

Responsibilities and Basis of Report

As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Chris Cooling 05/02/2026 Pool Innovation Centre Trevenson Road Redruth Cornwall TR15 3PL

Page 4

Launceston Foodbank Ltd Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 October 2025

Unrestricted funds £ 28,102 385 101,442 381	Restricted funds £ 4,500 - - -	2025 Total funds £ 32,602 385 101,442 381	2024 Total funds £ 38,311 288 98,464 569
130,310	4,500	134,810	137,632
(2,979) (137,947)	(2,670) (53)	(5,649) (138,000)	(7,118) (134,639)
(140,926)	(2,723)	(143,649)	(141,757)
(10,616)	1,777	(8,839)	(4,125)
(10,616) 61,593	1,777 281	(8,839) 61,874	(4,125) 65,999
50,977	2,058	53,035	61,874

The notes on pages 8 to 13 form part of these financial statements.

Page 5

Launceston Foodbank Ltd Comparative Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 October 2025

Unrestricted funds £ 37,311 288 98,464 569	Restricted funds £ 1,000 - - -	2024 Total funds £ 38,311 288 98,464 569
136,632	1,000	137,632
(6,118) (134,639)	(1,000) -	(7,118) (134,639)
(140,757)	(1,000)	(141,757)
(4,125)	-	(4,125)
(4,125) 65,718	- 281	(4,125) 65,999
61,593	281	61,874

The notes on pages 8 to 13 form part of these financial statements.

Page 6

Launceston Foodbank Ltd Balance Sheet As At 31 October 2025

Unrestricted funds £ 2,882	Restricted funds £ 158	2025 Total funds £ 3,040	2024 Total funds £ 3,938
2,882 3,668 48,037	158 - 1,900	3,040 3,668 48,082	3,938 3,569 57,844
51,705 (3,610)	1,900 -	51,750 (1,755)	61,413 (3,477)
48,095	1,900	49,995	57,936
50,977	2,058	53,035	61,874
50,977	2,058	53,035	61,874
		2,058 50,977	281 61,593
		53,035	61,874

For the year ending 31 October 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

On behalf of the board

Date

The notes on pages 8 to 13 form part of these financial statements.

Page 7

Launceston Foodbank Ltd Notes to the Financial Statements For The Year Ended 31 October 2025

1. General Information

Launceston Foodbank Ltd is a company limited by guarantee, incorporated in , registered number 07841161 and registered charity number 1146082. The registered office is .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.3. Incoming Resources

Recognition of income

Income is recognised in the Statement of Financial Activities when the charity is entitled to the income, receipt is considered virtually certain, and the amount can be measured reliably.

Income with related expenditure

Where income is received for a specific purpose and has directly associated costs, both the income and the related expenditure are reported gross in the Statement of Financial Activities.

Donations and legacies

Voluntary income, including grants, donations and gifts, is recognised when it becomes receivable and the charity has unconditional entitlement to the income.

Tax reclaims on donations

Income from Gift Aid and other tax reclaims is recognised at the same time as the underlying donation to which it relates.

Donated services and facilities

Donated services and facilities are included as income (with a corresponding expense) where the benefit to the charity is measurable, quantifiable and material.

Volunteer help

The value of volunteer time is not included in the financial statements.

Investment income

Investment income is recognised when receivable.

Gains and losses on investments

Gains or losses arising from the revaluation of investment assets to market value at the year end, and gains or losses on the disposal of investments, are included in the Statement of Financial Activities.

2.4. Donated Goods and Services

All donated goods, facilities and services are recognised within incoming resources and the corresponding expenditure at an estimate of their value to the charity.

Page 8

Launceston Foodbank Ltd Notes to the Financial Statements (continued) For The Year Ended 31 October 2025

2.5. Resources Expended

Recognition of expenditure

Expenditure is recognised on an accruals basis. Costs include any VAT that cannot be fully recovered and are reported within the activity to which they relate.

Expenditure on raising funds

These costs include expenditure incurred in attracting voluntary income, fundraising trading activities, and investment management.

Expenditure on charitable activities

These are the costs incurred in delivering the charity’s activities and services in furtherance of its objectives. This includes direct charitable expenditure, the making of grants, and an appropriate share of support and governance costs.

Grants payable

Grant expenditure is recognised when paid, together with an accrual for grants approved by the trustees before the year end but not yet paid.

Governance costs

Governance costs include those associated with meeting the constitutional and statutory requirements of the charity, such as audit or independent examination fees, strategic management, and an appropriate share of administration costs.

Other expenditure

Other expenditure comprises support costs that cannot be directly allocated to a specific activity

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles 20% On Cost Fixtures & Fittings 25% On Reducing Balance

2.7. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the statement of financial activities.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.10. Taxation

The charity is exempt from tax as all its income is charitable and applied for charitable purposes.

Page 9

Launceston Foodbank Ltd Notes to the Financial Statements (continued) For The Year Ended 31 October 2025

2.11. Pensions

The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

2.12. Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.13. Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. Income from Donations and Legacies

. Income from Donations and Legacies
Donations and gifts Grants Donations and gifts Grants	Unrestricted funds £ 24,712 3,390	Restricted funds £ - 4,500	2025 Total funds £ 24,712 7,890
	28,102	4,500	32,602
	Unrestricted funds £ 34,241 3,070	Restricted funds £ - 1,000	2024 Total funds £ 34,241 4,070
	37,311	1,000	38,311

4. Income from Other Trading Activities

. Income from Other Trading Activities
	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Income from other trading activities	101,442	98,464

5. Investment Income

Bank interest receivable

2025	2024
Unrestricted	Unrestricted
funds	funds
£	£
381	569

Page 10

Launceston Foodbank Ltd Notes to the Financial Statements (continued) For The Year Ended 31 October 2025

6. Net Income/(Expenditure)

The net expenditure is stated after charging/(crediting):

Activities undertaken directly £ 5,649 -	2025 £ 898	2024 £ 1,183
	Support costs (see note 8) £ - 138,000	2025 Total £ 5,649 138,000
5,649	138,000	143,649
Activities undertaken directly £ 7,118 -	Support costs (see note 8) £ - 134,639	2024 Total £ 7,118 134,639
7,118	134,639	141,757
		2025 Other £ 94,650 30,888 11,564 898
		138,000
		2024 Other £ 91,430 31,400 10,626 1,183
		134,639

7. Analysis of Expenditure

8. Support Costs

Page 11

Launceston Foodbank Ltd Notes to the Financial Statements (continued) For The Year Ended 31 October 2025

9. Staff Costs

Staff costs were as follows:

Wages and salaries Social security costs Other pension costs	2025 £ 89,177 571 1,638 91,386	2024 £ 87,121 - 1,532
		88,653

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

10. Average Number of Employees

Average number of employees during the year was: 6 (2024: 6)

11. Tangible Assets

Motor Vehicles £ 5,263	Fixtures & Fittings £ 17,384	Total £ 22,647
5,263	17,384	22,647
3,538 345	15,171 553	18,709 898
3,883	15,724	19,607
1,380	1,660	3,040
1,725	2,213	3,938
	2025 £ 2,116 1,552 3,668 2025 £ 275 520 960 1,755	2024 £ 2,329 1,240
		3,569
		2024 £ 333 696 2,448
		3,477

12. Debtors

Creditors: Amounts Falling Due Within One Year

Page 12

Launceston Foodbank Ltd Notes to the Financial Statements (continued) For The Year Ended 31 October 2025

14. Pension Commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

During the year the charge to the statement of financial activities in respect of defined contribution schemes was £1,638 (2024: £1,532).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

15. Movement in Funds

As at 1 November 2024 £ 61,593 281	Income £ 130,310 4,500	Expenditure £ (140,926) (2,723)	As at 31 October 2025 £ 50,977 2,058
61,874	134,810	(143,649)	53,035
As at 1 November 2023 £ 65,718 281	Income £ 136,632 1,000	Expenditure £ (140,757) (1,000)	As at 31 October 2024 £ 61,593 281
65,999	137,632	(141,757)	61,874

16. Related Party Disclosures

17. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

Page 13

Launceston Foodbank Ltd Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 October 2025

INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts Grants Charitable Activities: Charitable Activities Income from charitable activities Other trading activities Income from other trading activities Investments Bank interest receivable EXPENDITURE ON: Charitable Activities: Charitable Activities Purchases Other Wages and salaries Employers NI Employers pensions - defined contributions scheme Staff welfare Travel expenses Rent Rates Light and heat Repairs and maintenance Cleaning Premises insurance Computer software, consumables and maintenance Postage Stationery Advertising and marketing costs Telecommunications and data costs Accountancy fees Legal fees	2025 Total funds £ 24,712 7,890	2024 Total funds £ 34,241 4,070 38,311 288 288 98,464 98,464 569 569 137,632 (7,118) (7,118) (87,121) - (1,532) (971) (1,806) (14,200) (519) (8,840) (26) (6,481) (1,334) (277) (129) (1,038) (210) (1,255) (2,261) (3,157) ...CONTINUED
	32,602 385
	385 101,442
	101,442 381
	381
	134,810 (5,649)
	(5,649) (89,177) (571) (1,638) (584) (2,680) (14,700) (613) (7,301) (1,951) (5,151) (1,172) (277) (179) (611) (150) (1,337) (2,554) (3,157)

Page 14

Launceston Foodbank Ltd Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 October 2025

Subscriptions Bank charges Sundry expenses Depreciation NET EXPENDITURE	(1,407) (1,112) (780) (898)	(1,009) (1,037) (253) (1,183)
	(138,000)	(134,639)
	(143,649)	(141,757)
	(8,839)	(4,125)

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