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2024-03-31-accounts

Registered number: 08147165 Charity number: 1148358

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charitable company, its Trustees and 1
advisers
Trustees' report 2 - 6
Independent auditors' report on the financial statements 7 - 10
Statement of financial activities 11
Balance sheet 12 - 13
Statement of cash flows 14
Notes to the financial statements 15 - 31

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees John Griffiths
Rohan Worrall (resigned 15 November 2023)
Father Richard Nesbitt (resigned 16 November 2023)
Vivienne Lukey
Anthony Macdonald
Frances Le Grys
Aiden Kremin-Pacey
Marianne Hanjaras
James Bechely-Crundall
Company registered
number
08147165
Charity registered
number
1148358
Registered office
St Matthews Church
Wandsworth Bridge Road
London
SW6 2TX
Company secretary
Philip Storey
Independent auditors
MA Partners Audit LLP
Chartered Accountants & Statutory Auditors
7 The Close
Norwich
Norfolk
NR1 4DJ

Page 1

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the audited financial statements of the Hammersmith and Fulham Foodbank for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Mission, Vision and Values

The Vision is to eradicate food poverty and its causes in and around Hammersmith and Fulham.

The Mission, as is set out in the objectives contained in the company's memorandum of association, is the prevention or relief of poverty in and around the London Borough of Hammersmith and Fulham in particular, but not exclusively by:

Hammersmith & Fulham Foodbank (HFFB) works on a referral model with a broad range of professionals across a variety of agencies such as GP surgeries, social care sector, schools, advice agencies etc., issuing electronic vouchers redeemed at our foodbank sessions. These vouchers are exchanged at a HFFB session within reasonable travelling distance from their home for a three day emergency food parcel containing a ten meal supply of food as well as essential toiletries.

Food is obtained by permanent collection points at supermarkets, libraries and churches and by donations from churches, schools, businesses and individuals in the Borough. Should demand exceed supply, wholesale purchasing of food is carried out in line with our budget.

The values of HFFB are that we deliver services with compassion and integrity, led by client need whilst being inclusive and community focussed. HFFB is a proud member of Trussell Trust, a national Charity which supports a network of 1,400 foodbank locations and 36,000 volunteers. Trussell provide guidance, advocacy and publicity and perform an annual audit of HFFB to ensure we retain a high quality of charitable delivery.

HFFB wish to express our profound thanks to all those whose generosity and commitment have enabled us to support so many people in the local community who are facing hunger and coping with crisis. A number of supermarkets in the Borough allow us to hold regular collections and donate generously on top of what is given. A wide range of businesses, schools, churches and charities hold food collection events and donate funds that enable us to continue our work. A huge number of individuals donate to us regularly or one-off and we could not exist without their support.

Page 2

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Governance & Management

a. Structure, governance & management

The Charity acts under the governance of the Articles of Association. The company is one Limited by Guarantee. The Trustees have been made aware of the requirements of the Charity Commission.

b. Significance of volunteers in our operation

Volunteers are a key part of our organisation. Much of our sessions and services are delivered by a team of over 150 volunteers, recruited, inducted and supported by our Volunteer Coordinator. Our 8 Foodbank sessions per week at 4 locations each have an experienced volunteer team, led by their respective supervisor volunteers. In addition, we have our warehouse volunteer team, who sort and pack food for sessions.

We offer wraparound support at our Hub location on White City estate with a team of volunteers. Volunteer drivers, administrators and a team making home deliveries to housebound clients help to support our operational delivery. We ensure our volunteers are trained in the basic essentials and then offer development training appropriate to their role.

The Trustees recognise their responsibilities to ensure safety and mitigation of risks which is carried out according to Trussell Trust Guidelines in conjunction with the Chief Executive.

This financial year, our Trustee Board has consisted of 9 Trustees who have delivered sub-committees in Finance, Marketing and Communications, HR and Volunteering, Governance and Risk as well as the main Board meeting.

During this year our staff team consisted of full-time employees; CEO, Deputy CEO, Warehouse Coordinator, Operations Supervisor, Volunteer Coordinator and Administrator. Part time staff: Finance Manager, Finance Assistant, Client Support Coordinator and Hub Supervisor. This equates to 8.2 Full Time Equivalent staff.

Funding to maintain current staffing levels is a high priority for the coming year.

c. How our activities deliver public benefit

Our main activities focus on the provision of emergency food and essential toiletries to people who live in and around the London Borough of Hammersmith & Fulham who are deemed to be in crisis and are undertaken to further our charitable purposes for the public benefit. We focus on resolving the underlying cause of our clients’ need for emergency food, working in partnership to resolve these issues and prevent dependence on emergency food.

d. Who benefits from the services?

Our objective is to limit the services we provide to residents of the Borough of Hammersmith & Fulham and its environs. Equal access to our services is an important issue to us and we monitor access to our services by age and ethnic background.

Page 3

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Principal activities and performance

a. Performance review

During the year to 31 March 2024, the Hammersmith & Fulham Foodbank's income has fallen to £1,032,440 from last year’s figure of £1,063,514 (year ended 31 March 2023). This value includes donated food stock as well as financial donations.

We primarily rely on voluntary financial donations and grants for our financial income as well as our local community, businesses and schools, particularly for food donations.

Operational expenses have decreased from £1,017,577 in the year ended 31 March 2023 to £995,981 in the current year.

During the year to 31 March 2024, 12,836 referrals were made for an emergency food parcel. To meet the need we have managed to secure donations and purchased food totalling 152 tonnes (125 tonnes in the year ended 31 March 2023).

b. Arrangements for setting pay and remuneration of key management personnel

The pay and remuneration of our staff team is reviewed at least annually by the Board of Trustees. Remuneration is reviewed based on performance of role and inflation rates. Intermittently, an independent review is undertaken, led by Trustees, to compare remuneration rates with similar sized charities with similar roles in London.

c. Reserves Policy

The Trustees' policy is to maintain a level of reserves which will provide a stable base for its continuing activities. Unrestricted reserves have decreased from £566,001 at 31 March 2023 to £499,082 at 31 March 2024. The Trustees believe this level of reserves is adequate for the continuing operation of the charity, based on six months of operational expenses.

d. Fund - raising standards information

HFFB is committed to protecting donors and the public, including vulnerable people, from poor fundraising practice. The CEO is predominantly responsible for grant funding applications and overseeing the existing donor relationships in addition to cultivating new relationships. In addition to income provided through grants, donations are made by local companies, members of the public and through collections via schools and churches. Should a donation be given for a particular cause, this is ringfenced as such. Full information of where the funds will be used is provided when requested. To protect vulnerable people, we do not use third party fundraising agents, or engage in cold calling practices. All donations are entirely voluntary. We are also a member of the Fundraising Regulator Body.

Page 4

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

e. Plans for future periods

HFFB co-chairs the borough's Food Strategy group and work in this area will bring together emergency food providers, identify and plan for the main drivers of food poverty in the borough and look at good practice nationally to drive future priorities.

The work as a Trussell Trust Pathfinder Foodbank continues to look at delivery projects and policy influence that address the main causes of food crisis in the borough and HFFB is on the steering group of the borough Cost of Living Alliance which works in partnership with voluntary, health and statutory sectors to address the causes of, and responses to poverty in the borough. Priorities being collaboration and early intervention.

f. Going concern

The Board of Trustees in addition to the CEO and Finance Manager look closely at the funding levels. This is reviewed every quarter at the Trustee meeting. The Board of Trustees is satisfied that the current level of funding is adequate to meet its financial obligations over the next 12 months.

g. Risk Management

The Board of Trustees has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

Structure, governance and management

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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

Page 5

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Approved by order of the members of the Board of Trustees and signed on their behalf by:

Frances Le Grys (Chair of Trustees)

Date: 20 December 2024

Page 6

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAMMERSMITH AND FULHAM FOODBANK

Qualified Opinion

We have audited the financial statements of Hammersmith and Fulham Foodbank (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

Except for for the effects of the matter described in the basis for qualified opinion section of our report, in our opinion the financial statements:

Basis for opinion

Whereas we observed a stock count at 31 March 2024, we were unable to obtain sufficient appropriate audit evidence regarding the existence of opening stock, valued at £39,399 at 31 March 2023. We did not observe a stock count on that date due to the foodbank's anticipation that an independant examination would be sufficient rather than a statutory audit.

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

Conclusions relating to going concern

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

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

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

Page 7

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAMMERSMITH AND FULHAM FOODBANK (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

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

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

Page 8

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAMMERSMITH AND FULHAM FOODBANK (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

Page 9

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HAMMERSMITH AND FULHAM FOODBANK (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Members, as a body, for our audit work, for this report, or for the opinions we have formed.

MA Partners Audit LLP

Chartered Accountants & Statutory Auditors 7 The Close Norwich Norfolk NR1 4DJ

Date: 20 December 2024

MA Partners Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 10

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and grants
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
427,345
-
427,345
-
323,967
323,967
103,378
290,239
103,378
393,617		 Unrestricted
funds
2024
£
605,095
-
605,095
322
671,692
672,014
(66,919)
566,001
(66,919)
499,082		 Total
funds
2024
£
1,032,440
-
1,032,440
322
995,659
995,981
36,459
856,240
36,459
892,699		 Total
funds
2023
£
1,061,093
2,421
1,063,514
410
1,017,167
1,017,577
45,937
810,303
45,937
856,240

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 31 form part of these financial statements.

Page 11

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee) REGISTERED NUMBER: 08147165

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
11
Current assets
Food Stock
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 24,755
38,672
800,233
863,660
(17,524)		 2024
£
46,563
46,563
846,136
892,699
393,617
499,082
892,699		 39,399
12,730
777,556
829,685
(45,928)		 2023
£
72,483
72,483
783,757
856,240
290,239
566,001
856,240

Page 12

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee) REGISTERED NUMBER: 08147165

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The Members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Frances Le Grys (Chair of Trustees)

Date: 20 December 2024

The notes on pages 15 to 31 form part of these financial statements.

Page 13

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 15 to 31 form part of these financial statements		 2024
£
27,184
(4,507)
(4,507)
22,677
777,556
800,233		 2023
£
92,342
(71,463)
(71,463)
20,879
756,677
777,556

Page 14

HAMMERSMITH AND FULHAM FOODBANK (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

Hammersmith and Fulham Foodbank ("the charitable company") is a private company limited by guarantee and incorporated in England and Wales, registration number 08147165.

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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Hammersmith and Fulham Foodbank meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees are confident that the charitable company can continue its successful track record of securing the funds needed to support its valuable work. This will be achieved by the senior managers and fundraising team applying for grants and donations. The charitable company's annual budgets and fundraising log demonstrate how the income will be raised to meet all the charitable expendiutre and support costs as they fall due. The Trustees therefore consider it appropriate to prepare the financial statements on the going concern basis.

2.3 Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Page 15

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Gift Aid

In the case of a Gift Aid payment made within the Group, income is accrued when the payment is payable to the parent charitable company under a legal obligation. Measurement is at the fair value receivable, which will normally be the transaction value.

Where the right to receive Gift Aid has been established, the amount receivable is recognised as investment income in the Statement of financial activities.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold Improvements - 25%
Motor vehicles - 25%
Fixtures and fittings - 33%

2.7 Stocks

Stock of food is held at net realisable value, which is deemed to be £2.37 per kilogram.

2.8 Debtors

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

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 16

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charitable company to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 17

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and grants

Donations
Grants
Total 2024
Total 2023
4.
Investment income
Bank interest
5.
Expenditure on raising funds
Fundraising trading expenses
Fundraising		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
24,632
593,026
402,713
12,069
427,345
605,095
394,356
666,737
Unrestricted
funds
2024
£
-
Unrestricted
funds
2024
£
322		 Total
funds
2024
£
617,658
414,782
1,032,440
1,061,093
Total
funds
2024
£
-
Total
funds
2024
£
322		 Total
funds
2023
£
699,520
361,573
1,061,093
Total
funds
2023
£
2,421
Total
funds
2023
£
410

Page 18

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
323,967
671,692
368,443
648,724		 Total
2024
£
995,659
1,017,167		 Total
2023
£
1,017,167

7. Analysis of expenditure by activities

Charitable activities
Total 2023
Analysis of direct costs
Opening Food Stock
Food Purchases
Donated Food Stock Distributed
Closing Food Stock
Total 2024		 Activities
undertaken
directly
2024
£
352,097
310,524		 Support
costs
2024
£
643,562
706,643		 Total
funds
2024
£
995,659
1,017,167
Total
funds
2024
£
39,399
140,870
196,583
(24,755)
352,097		 Total
funds
2023
£
1,017,167
Total
funds
2023
£
32,208
89,434
228,281
(39,399)
310,524

Page 19

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Advice Services
Contractors & casual labour
Recruitment / HR costs
Depreciation
Foodbank centre costs
Hub (rent & other utilities)
Crisis Fund
Office expenditure
Distribution Costs
Governance costs
Volunteer expenses
Miscellaneous expenses
Storage Costs
More than Food
Staff Training
Travel Costs
Fresh Food
Bank Charges
Costs associated with COVID
Total 2024		 Total
funds
2024
£
342,172
54,362
52,705
34,436
30,427
26,123
23,262
13,233
12,369
9,706
8,980
8,825
7,104
5,436
5,000
4,053
2,888
2,287
194
-
643,562		 Total
funds
2023
£
332,406
14,891
98,937
31,900
22,892
32,820
28,797
-
16,437
22,912
5,530
9,978
540
5,232
74,793
3,850
4,005
-
198
525
706,643

Food expenditure of £140,870 is recognised in the analysis of direct costs on Page 19.

8. Auditors' remuneration

2024 2023
£ £
Fees payable to the charitable company's auditor for the audit of the
charitable company's annual accounts 6,250 5,500

Page 20

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
303,033
26,905
12,234
342,172		 2023
£
292,083
25,375
14,948
332,406

The average number of persons employed by the charitable company during the year was as follows:

2024 2023
No. No.
Management and Administration 8 8

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 1 1

The total remuneration for key management personnel for the year totalled £70,916 (2023: £70,664)

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .

Page 21

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Stocks
Food stock		 Short-term
leasehold
property
£
68,791
-
68,791
55,219
4,190
59,409
9,382
13,572		 Motor
vehicles
£
84,016
-
84,016
33,649
21,003
54,652
29,364
50,367		 Fixtures and
fittings
£
50,261
4,507
54,768
41,717
5,234
46,951
7,817
8,544
2024
£
24,755		 Total
£
203,068
4,507
207,575
130,585
30,427
161,012
46,563
72,483
2023
£
39,399

12. Stocks

Page 22

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. Debtors

Due within one year
Prepayments and accrued income
Gift aid receivable		 2024
£
37,155
1,517
38,672		 2023
£
6,213
6,517
12,730

14. Creditors: Amounts falling due within one year

Trade creditors
Accruals and deferred income		 2024
£
10,024
7,500
17,524		 2023
£
20,137
25,791
45,928

Page 23

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds Statement of funds
Statement of funds - current year
Balance at
Balance at 1 31 March
April 2023 Income Expenditure 2024
£ £ £ £
Unrestricted funds
Reserves 566,001 605,095 (672,014) 499,082

Page 24

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)


Restricted funds
Salary Fund
Strategic Facilities
The Hub
Advice Services
Holiday Club
Food
More than Food
Food for Thought (Counselling)
Fresh Food
Christmas
Van/Distribution
Volunteer development
Other
Pathfinder
Warehouse Costs
Marketing
Food Roots (Food Strategy)
Total of funds		 Balance at 1
April 2023
£
84,335
5,346
442
34,057
3,481
4,338
18,071
46,816
-
-
32,585
20,105
5,122
22,341
-
-
13,200
290,239
856,240		 Income
£
71,133
10,920
59,260
37,625
-
166,932
9,827
23,400
24,000
200
2,548
10,000
-
-
6,000
5,500
-
427,345
1,032,440		 Expenditure
£
(58,966)
(12,440)
(49,402)
(36,529)
-
(64,543)
(13,600)
(17,700)
(2,288)
-
(21,003)
(17,907)
(5,000)
(7,410)
(1,729)
(2,250)
(13,200)
(323,967)
(995,981)		 Balance at
31 March
2024
£
96,502
3,826
10,300
35,153
3,481
106,727
14,298
52,516
21,712
200
14,130
12,198
122
14,931
4,271
3,250
-
393,617
892,699

Page 25

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)

Restricted Funds

Salary Fund - The fund is to contribute towards the salary of the staff team.

Strategic Facilities - This covers rental, utility and maintenance costs of our centres and warehouse as well as some asset costs for the improvement of the sites.

The Hub - The fund (from Hammersmith & Fulham Council) is to provide for the salary of the supervisor and provide for the running costs of this centre. In addition this may include funding from other grant funders for further client support services and client events offered on this site.

Advice Services - For provision of Advice Services to our clients, predominantly from a specialist from the Citizens Advice Bureau.

Holiday Club - The fund is to carry out a school holiday club for referred primary school children.

Food - The fund is to purchase additional food stocks to top up donated supplies.

More than Food - This fund is for the provision of essential items to those in crisis which extends beyond food.

Food for Thought (Counselling) - Funding to deliver talking therapy from qualified counsellors for registered Foodbank clients either on site or remote delivery.

Fresh Food - This fund is to purchase fresh food (potatoes, carrots, apples and oranges) in order to add more nutrients to donations.

Christmas - This fund is for the purchase of Christmas related supplies and food.

Van/Distribution - This fund is to purchase a new electric van for food distribution and collection. In addition this fund contributes to the two van's running costs.

Volunteer Development - This fund is for the wages of the Volunteer Coordinator with the remainder mainly towards volunteer training.

Other - This fund was held for a project that took place in 2020/21.

Pathfinder - This fund covers the fees of a Social Inclusion Coordinator for project work and the wages for a Research Coordinator and affiliated costs.

Marketing - This fund is to improve the marketing budget specifically to help develop our corporate offer.

Food Roots (Food Strategy) - This fund is to develop the Food Strategy Group and is primarily used to pay the fees of a group coordinator role.

Page 26

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Coronavirus
General funds
Reserves
Total Unrestricted funds		 Balance at
1 April 2022
£
73,146
474,101
547,247		 Income
£
-
669,158
669,158		 Expenditure
£
-
(649,134)
(649,134)		 Transfers
in/out
£
(73,146)
71,876
(1,270)		 Balance at
31 March
2023
£
-
566,001
566,001

Page 27

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)

Restricted funds
Salary Fund
Strategic Facilities
The Hub
Advice Services
Holiday Club
Food
More than Food
Food for Thought (Counselling)
Christmas
Van/Distribution
Volunteer development
Other
Pathfinder
Food Roots (Food Strategy)
Total of funds		 Balance at
1 April 2022
£
69,123
7,024
4,545
37,405
3,481
18,751
24,014
28,366
184
38,716
22,308
9,139
-
-
263,056
810,303		 Income
£
69,146
10,920
51,900
36,887
-
53,377
42,675
24,300
1,000
9,000
21,860
122
59,969
13,200
394,356
1,063,514		 Expenditure
£
(53,934)
(12,598)
(61,371)
(40,235)
-
(67,790)
(48,618)
(5,850)
(1,225)
(15,131)
(24,063)
-
(37,628)
-
(368,443)
(1,017,577)		 Transfers
in/out
£
-
-
5,368
-
-
-
-
-
41
-
-
(4,139)
-
-
1,270
-		 Balance at
31 March
2023
£
84,335
5,346
442
34,057
3,481
4,338
18,071
46,816
-
32,585
20,105
5,122
22,341
13,200
290,239
856,240

Page 28

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at
1 April 2022
£
73,146
474,101
263,056
810,303		 Balance at 1
April 2023
£
566,001
290,239
856,240
Income
£
-
669,158
394,356
1,063,514		 Income
£
605,095
427,345
1,032,440
Expenditure
£
-
(649,134)
(368,443)
(1,017,577)		 Expenditure
£
(672,014)
(323,967)
(995,981)
Transfers
in/out
£
(73,146)
71,876
1,270
-		 Balance at
31 March
2024
£
499,082
393,617
892,699
Balance at
31 March
2023
£
-
566,001
290,239
Summary of funds - prior year
Designated funds
General funds
Restricted funds
856,240

17. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
46,563
393,617
470,043
-
(17,524)
393,617
499,082		 Total
funds
2024
£
46,563
863,660
(17,524)
892,699

Page 29

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Restricted
funds
2023
Unrestricted
funds
2023
£
£
Tangible fixed assets
-
72,483
Current assets
290,239
539,446
Creditors due within one year
-
(45,928)
Total
290,239
566,001
18.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
£
Net income for the period (as per Statement of Financial Activities)
36,459
Adjustments for:
Depreciation charges
30,427
(Increase)/Decrease in stocks
14,644
(Increase)/Decrease in debtors
(25,942)
Increase/(Decrease) in creditors
(28,404)
Net cash provided by operating activities
27,184
19.
Analysis of cash and cash equivalents
2024
£
Cash in hand
800,233
Total cash and cash equivalents
800,233		 Total
funds
2023
£
72,483
829,685
(45,928)
856,240
2023
£
45,937
22,892
(7,191)
726
29,978
92,342
2023
£
777,556
777,556

Page 30

HAMMERSMITH AND FULHAM FOODBANK

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2023
£
777,556
777,556		 Cash flows
£
22,677
22,677		 At 31 March
2024
£
800,233
800,233

21. Operating lease commitments

At 31 March 2024 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
3,663
11,905
15,568		 2023
£
-
-
-

The following lease payments have been recognised as an expense in the Statement of financial activities:

2024 2023
£ £
Operating lease rentals 2,747 -

22. Related party transactions

In the current year, donations from Trustees totalling £5,560 (2023: £92) were received by the charity.

In the current year, Sonali Kumarakulasinghe (cousin of Rohan Worrall, Chair of Trustees to 15 November 2023) received £2,217 (2023: £3,816) for provision of Human Resources Consultancy service up until the date Rohan Worrall resigned in the year.

In the current year, funds of £8,800 and £10,000, totalling £18,800 (2023: £12,675) were received from H&F Giving Ltd and Hammersmith United Charities respectively, both of which Vivienne Lukey, a Trustee, is also a Trustee.

Page 31