Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF
Registered Charity Number :- 1148626 Registered Company Number :- 08137465
## ONE CAN TRUST LTD (a company limited by guarantee) FINANCIAL STATEMENTS
## FOR THE PERIOD ENDED 31 March 2024
**One Can Trust Ltd 11b Duke Street High Wycombe HP13 6EE**
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
## **CONTENTS**
FOR THE PERIOD ENDED 31 March 2024
REFERENCE AND ADMINISTRATIVE INFORMATION .......................................................................... 1 TRUSTEES’ REPORT ..................................................................................................................................... 3 INDEPENDENT EXAMINER'S REPORT .................................................................................................... 15 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................................. 16 BALANCE SHEET ......................................................................................................................................... 17 STATEMENT OF CASHFLOWS .................................................................................................................. 18 NOTES TO THE FINANCIAL STATEMENTS ........................................................................................... 19
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**REFERENCE AND ADMINISTRATIVE INFORMATION**
FOR THE PERIOD ENDED 31 March 2024
## **Reference and Administrative Information**
**One Can Trust – Trustee Directors**
The Trustees, who are also Directors for the purposes of company law, and who served during the period and up to the date of signature of the financial statements were:
|Andy Ford|–|Chair|
|---|---|---|
|Kate Brewster|||
|Kerri Byrne|||
|Russell Down|–|Appointed 19 April 2024|
|Jacqui Fromberg|||
|Gillian Harding|–|Appointed 1 June 2024|
|Philip Hynard|–|Resigned 31 January 2024|
|Ruth Letham|–|Appointed 5 September 2023|
|Peggy Peckham|–|Resigned 9 October 2023|
|Graham Peart|||
|Gareth Pugh|–|Treasurer|
|Sarfaraz Khan Raja|||
|Chris Wardle|–|Secretary|
|**Operations Managers**|||
|Jo Belshaw|–|Food Bank|
|Cara Nightingale|–|Food Programmes|
|Kim Starkey|–|Community Support Programme|
|**Registered and Office Address**|–|11b Duke Street|
|||High Wycombe|
|||Buckinghamshire|
|||HP13 6EE|
|**Charity No.**|**–**|1148626 (Established in 2011)|
|||Page 1|
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**REFERENCE AND ADMINISTRATIVE INFORMATION**
FOR THE PERIOD ENDED 31 March 2024
|**Company No.**|–|8137465 (Registered in England and Wales)|
|---|---|---|
|**Bankers**|–|CAF Bank Ltd|
|||25 Kings Hill Avenue|
|||Kings Hill|
|||West Malling|
|||Kent|
|||ME19 4JQ|
|**Independent Examiner**|–|Saffery LLP|
|||St John’s Court|
|||Easton Street|
|||High Wycombe|
|||Buckinghamshire|
|||HP11 1JX|
Page 2
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Introduction**
This has been a period of relative stability for One Can Trust; we are cautiously optimistic that economic conditions are improving, and numbers referred to us are lower than they were at their peak during the cost of living crisis. However, need is still very much evident and we have continued to provide an average of 1183 food parcels per month, including emergency parcels, to those experiencing hardship or crisis. As well as our core Foodbank, we are developing our other services in order to provide wrap-around support for our clients. In particular, the Children’s Clothes Bank has been hugely successful in reaching families in need and we thank all those involved in getting that off the ground. The Community Support and Food Programmes teams are now established at our second base, at Hills Café in Micklefield, which, as well as providing a safe, community venue is also the base for a number of our services such as Cookery Classes and weekly Community Café.
We continue to work collaboratively with other community organisations and are exploring new partnerships. The School Meals Project, which started in January, is working with local schools to address the issue of children going to school hungry and already is making a big difference for children and their families.
We could not operate without our extraordinary team of volunteers, staff and trustees, and we warmly welcome those who have joined us in the last few months. Thank you to everyone who continues to support our organisation through volunteering, food and financial donations, all of which enables us to make a real difference for people in need in our local area.
Kerri Byrne Vice-chair of Trustees
Date 27 November 2024
Page 3
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Food Bank Operations**
One Can Trust provides free, emergency, weekly food parcels to anyone in South Bucks who is struggling to put food on the table. We work with partner organisations (such as Bucks Council, Housing Associations and Health Visitors) who refer clients to us for support. We can also provide one emergency food parcel per household to anyone who doesn’t yet have a referral in place. Clients may receive up to four weeks’ worth of food in one referral and may be referred to us as many times as considered necessary. We work closely with our referring partners to ensure clients are receiving sufficient support to encourage independence.
The number of people we support throughout the year fluctuates and we have seen an encouraging decrease in people requiring our food bank services since Christmas 2023, when demand peaked at 1350 parcels, compared to 1017 in March 2024.
## **Food Parcels – Estimated Value and Source of Donations**
The estimated value of monthly food parcels between varies between £72,000 - £86,000 and we are incredibly grateful to everyone in our local community for their generous donations. The pie chart below shows the typical donation sources and relative amounts that we receive:
Page 4
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
The weekly food drives at local supermarkets continue to be a significant source of food and we have worked with many corporate partners during the working week to boost donations. We are hugely grateful to everyone involved, particularly the local stores who kindly allow us to have a presence in their busy entrance foyers. We have also gratefully received surplus food from local supermarkets and bakeries.
80% of all parcels are delivered by volunteer drivers to clients’ doors, a model that was developed during lock down and remains successful to this day. The other 20% of parcels are either delivered to our collaborative hubs at St James’s Church in Downley, St Thomas’s Church in Holtspur and St Mary’s Church in Princes Risborough or are collected by clients from our warehouse.
## **RaisingNutrition**
With the help of a Food Nutritionist from RaisingNutrition, parcel contents have been carefully designed so they contain enough food to provide three meals a day for a week. We cater for different sizes of family and all dietary requirements, for example vegetarian, halal, food intolerances and low sugar content. If requested, we provide fresh fruit and vegetables, eggs, bread, toiletries, baby food and pet food in our free, weekly parcels.
Following the advice of RaisingNutrition, we have made changes to our parcels (for example the inclusion of oily fish, wholemeal rice and a reduction in processed tinned meat). In addition, for those clients who request fresh fruit and vegetables, we can confidently say that we provide enough fresh and tinned fruit and vegetables for each person to eat 5 portions per day.
As a result of implementing the changes recommended by RaisingNutrition, we have been delighted to receive their accreditation in recognition of our efforts to make our food parcels (and other food provision services) as nutritious as possible.
**Jo Belshaw Operations Manager**
## **Community Support**
## **Background**
One Can Trust has been developing ways in which we can support our clients beyond the basic provision of food parcels. ‘The Insight Programme’ started at the end of 2020 with a few volunteers and staff who would call clients to gain feedback on their food parcels. We very quickly realised that there was a much greater need and in 2022, ‘Insight’ continued to grow into a strong team of 15 volunteers making calls to all clients who were referred to us for a food parcel. Now, as the Community Support Team, we signpost to other agencies for debt advice, money management, procurement of household items, in addition to sourcing funding and grants to pay off debt or arrears.
## **Staffing and Workforce**
The Community Support Team consists of one full time programme manager and one full time community support worker, who was employed in June 2023. A team of volunteers help with our weekly projects.
Page 5
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Client calls and further support**
A team of volunteers make calls to all food bank clients to see how they can be further supported by the team. The team also support clients introduced to One Can from other projects.
From September 2023 to March 2024, we attempted to call 590 clients. Volunteers spoke to 70% of clients, providing 31% with simple signposting. 29% of these calls showed that clients were happy to talk but required no further support at this time. 40% of clients called were referred to the Community Support Team for more specialist advice and guidance.
76 clients who have been helped previously also returned for more support making a total of 241 client cases that the staff team dealt with during this time. Out of 241 cases, 4% required no further support. 92% of cases received detailed sign posting and support. 9% received grants from local organisations and 20% were allocated a fuel voucher from the Fuel Bank Foundation.
## _Client Feedback_
_“Thank you for calling and caring. It was so nice to have a chat. I don’t get out much.”_
## **Toddler groups**
‘First Steps’, our closed group for our more vulnerable families, continues to grow and provide a safe and nurturing space to visit each Thursday morning. In September 2023, we took over a second group that had been run by the CIC Mama Bee. ‘Next Steps’ allowed us to duplicate the model of First Steps and create a friendly space for more families to attend on a Tuesday morning. As an open group, attendance occurs more randomly, but a drop-in session allows families to use the group as and when needed. First Steps averages 34 children attending per month in total (average 8 per week), and Next Steps averages 49 children per month (average 13 per week).
_Client Feedback_
_“Christmas 2023 was a difficult time for us. We had a new baby and I couldn’t afford to take my older children to see Father Christmas. The fact that Father Christmas came to the toddler group meant so much to us and the children loved it.”_
_“One Can has given me part of my life back.”_
_“Before One Can I would stay at home, not pushing myself to go out at all. I would avoid going out because of my anxieties. I attend both toddler groups. I feel comfortable there, I talk to different people and the volunteers and staff were so friendly and welcoming it helped me reduce my anxieties.”_
## **Children’s Clothes Bank**
In September 2023, we joined forces with a small initiative in Beaconsfield called ‘Share Enough’ run by Sophie and Sam and started our Children’s Clothes Bank from Wesley Methodist Church in High Wycombe. Families are referred to the project and can attend on the first Friday of every month to choose pre-loved clothes for their children. This has proven to be very successful, with referrals coming to us from local organisations such as Social Services, local schools, Wycombe Women’s Aid and Wycombe Refugee Partnership.
Page 6
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
NB Numbers of children provided with clothes are higher. The team make up bags of clothes to send out to families in need. _Client Feedback_
_“The clothes bank is a lifesaver! I can make sure my child can wear clothes that fit and are appropriate for the season. This is a massive relief in these hard times. A wonderful idea and very much appreciated. Thank you for all your hard work.”_
## **Hills Café**
The move to Hills Café in November 2023, has provided the CS team with much needed space and the ability to build links with the team at the Cafe. It is a great benefit for us to be based there and provides a community space for many of our future projects. Our working relationship with Hills Cafe has also been strengthened since Carrie, our Community Support Worker, is now the part time Business Manager of Hills.
## **Future Projects**
## **Adult Clothes Bank**
From the success of the Children’s Clothes Bank and after many requests for adult clothes we are aiming to open an adult's clothes bank this summer. This new initiative will run independently from the children's clothes bank and a new smaller venue is being sourced. John Lewis Partnership has shown an interest in supporting and part funding this project.
## **The OCT Homework Club**
In partnership with Hills Café, we would like to run a Homework Club from the cafe during term time. A space with access to laptops, and a printer, paper and pens will hopefully encourage families to attend and use the facilities. Planning involves sourcing mentors with specialities in various subjects such as 11 plus, SATS and GCSE’s. The Café will provide a light, low cost meal menu and although not free, will allow children to have tea while they work.
## **Ante-Natal Classes**
In partnership with Buckinghamshire Council and the Opportunity Bucks Initiative, we are currently discussing the possibility of offering a free pregnancy support group, something similar to NCT classes but for those who are unable to afford private courses. The course would run from Hills Café, over an 8 week period when Mums to be are in their second and third trimesters. There is a core team of volunteers who are involved at the planning stage, all who are experienced and qualified in this area.
## **Kim Starkey Community Support Programme Manager**
Page 7
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Food Programmes**
Over the past year, the Food Programmes team has continued its mission to support those in our community facing financial difficulties. We are delighted to share the progress and new initiatives we have implemented to further our impact.
## **Community Café**
The Community Café has evolved to better meet the needs of our community. Recognising the increasing demand, we now run the Café every Wednesday in partnership with the Community Support team. This weekly event provides a warm, welcoming environment where families can enjoy nutritious meals and a hot drink. The Café not only addresses hunger but also offers a space for people to seek guidance and support from our dedicated staff and volunteers. We have enhanced our children's activities, giving parents the opportunity to engage more fully with our services or simply enjoy some respite. There has been an increase in attendance as families and clients who attend other projects have also started to visit for some food, support and social interaction. Café attendance varies between roughly 20-40 people per week.
_“We visit the café weekly after school. My kids have tried so many different recipes, they get to play, and I have the opportunity to talk to friendly One Can volunteers who always offer so much support.”_
## **Cookery Courses**
Our cookery courses continue to be a vital resource for clients utilising our food bank. From September 2023 to the end of March 2024, we hosted three 6-week cookery courses, supporting 48 participants. These courses focus on teaching simple, nutritious, and cost-effective recipes, empowering individuals to gain confidence and skills in the kitchen.
_“I used to love cooking. With the cost of groceries sky-high, it had me reaching for more convenient foods. By attending the course, it has shown me how to create meals from scratch and batch cook, which has not only helped me financially but I feel so much healthier.”_
## **Supper Clubs**
Between September 2023 and the end of March 2024, we held special Supper Clubs during the Christmas period, hosting 16 families across two sessions. These clubs provided an opportunity for families to create a festive threecourse meal while learning valuable cooking skills, budgeting tips, and nutritional guidance. Each family also took home additional food to enjoy over the Christmas period. The sessions fostered community bonds as families shared the meals they had prepared. We have further Supper Clubs planned for May and throughout the summer and Christmas holidays.
## **New Initiatives: School Meal Project**
We have now launched our School Meals Project, which addresses the issue of children who do not qualify for government-funded Free School Meals but are at risk of food poverty. Between November 2023 and March 2024, 768 breakfasts and 1895 lunches were provided to children in local primary schools who would otherwise have been going to school hungry.
We will continue this programme with the existing schools and plan to expand to include additional schools during the summer term. Our plan includes gathering data from teachers and parents both before and after funding. This data will be analysed and shared with key stakeholders who can advocate for policy changes regarding free school meals.
_“Knowing my child is starting the day with a healthy breakfast gives me peace of mind and helps him concentrate better at school.”_
Page 8
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Future Goals**
Looking ahead, we plan to further expand our School Meal Project and continue rolling out this essential service to more schools. We will gather and analyse data to build a strong case for policy changes that can improve school meal provisions. Additionally, we aim to increase the capacity of our Community Café and Cookery Courses to meet the growing demand in High Wycombe and the South Bucks area.
We are immensely grateful for the unwavering support from our volunteers, donors, and the community. Together, we are making a tangible difference in the lives of those experiencing financial hardship in High Wycombe and South Bucks.
## **Cara Nightingale Food Programmes Manager**
## **Our Volunteers**
We could not function and deliver the service that we do without the humbling support of our incredible volunteer team - our volunteers really are the lifeline of our charity. When asked, in a recent survey, what made people want to volunteer with us and what benefits volunteering provided, the following key responses were given :
Here are a couple of quotes from our volunteers who perform tasks ranging from packing parcels, to delivering parcels, to helping out at our toddler groups and clothes bank:
_‘I wanted to do something useful with my free time and I chose One Can because of the people. Where else can you do something useful and have a great time… all for free?’_
_‘I feel serving and helping where possible in our local communities is important. I have received far more than I have given’._
## **Our Supporters**
We are extremely fortunate to receive significant support from local businesses and organisations. Support can range from monetary donations to volunteering, donations and advice. This year, we were particularly fortunate to receive financial donations from West Herts Charity Trust, Kenvue, Heart of Bucks (Kop Hill Climb) and Vinci Foundation that enabled us to purchase a second van. This has been a huge help when attending multiple events and in the delivery of food parcels also.
Many more groups within the community, too many to mention individually, provide invaluable support collecting food and raising our profile. Groups range from local Brownies and Scouts groups, to WI groups, faith groups and local schools (particularly as part of their brilliant Harvest festivals and assemblies).
Page 9
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## _Objectives and Activities_
Our Charitable Object is the relief of financial hardship among people living or working in the south of Buckinghamshire and surrounding areas by providing food parcels or services which they could not otherwise afford through lack of means.
Our Vision is to be here in South Bucks to help anyone in our local communities who is desperate with hunger, for as long as there is a need.
Our Mission is to bring together everyone who can contribute to the running of our food bank and other relevant services, and provide the organisation and fundraising that is necessary to provide food parcels and support to anyone in crisis.
## _How We Benefit the Public_
Our trustees have taken into account their duty under section 4 of the Charities Act 2011 and their obligations with regard to Charity Commission guidance on public benefit when planning our activities.
The direct public benefit that comes from our activities is the relief of hunger within households living in poverty. We also provide additional relief through our Food Programmes and support households in overcoming the causes of their poverty through our Community Support Programme and Food Programmes.
## _Our Values_
We operate with openness and integrity – in all our actions we will operate openly and transparently, sharing the reasons behind any decisions we make and how these will progress the delivery of the vision. We value everybody in our community equally, and strive to maximise the positive impact we can have without regard to any individual’s background.
We are inspired by our volunteers – in this we can ensure that all who work with us are united in delivering our vision for the greater good of our community.
We are led by and support our community – our initiatives are driven bottom up, deriving their strength from the community they serve, with our actions guided and focussed by the wishes of the community.
We strive for excellence – we aspire to deliver all we do to the highest possible standard and in this, inspire those living in poverty to strive to achieve their full potential.
We recognise the value of the individual and the power of community – in humbling ourselves to a common purpose we can each contribute to something far beyond the reach of any one of us, strengthened by our collective values and supporting one another as we need it.
## _The Board_
One Can Trust Ltd (OCT) is a company limited by guarantee and a charity registered with the Charity Commissioners. OCT is controlled by its governing document, the Articles of Association. The charity is controlled by its governing document, the Trust Deed.
Page 10
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
The governing document of the company allows a minimum of 3 directors and a maximum of 15 directors. All directors of the company are also trustees of the charity.
New trustees are appointed by the existing trustees after a formal recruitment process including eligibility checks and interviews with the board followed by a vote and can serve for a maximum of 9 years. The charity regularly conducts a review of the skills and experience of trustees to ensure they are commensurate with the risks and areas of operation of the charity. Our recruitment decisions are informed by that skills and experience review. New trustees are inducted into the business through a programme of engagement with serving trustees, our three managers and relevant external stakeholders. Many of our trustees also serve as volunteers.
Trustees are required to declare any competing or conflicting of interests at the commencement of each Board meeting and they are permanently recorded. When a conflict arises, trustees absent themselves from any discussion and decision making.
Trustees give of their time freely and no remuneration is made.
## _Role of the Board_
At their bimonthly meetings, the trustees agree the broad areas of strategy and activity. They scrutinise performance against targets, our financial position, donor relations, HR matters, health and safety, risk, policies, procedures and other governance matters.
The day-to-day running of these matters is delegated to our three salaried managers, each of whom has specific responsibility for an area of operation. Jo Belshaw is the manager for our Food Bank Operations. Cara Nightingale is our Food Programmes Manager and Kim Starkey runs our Community Support Programme. Each of these reports monthly to the relevant Committee of trustees as set out below. In addition, they provide detailed reports to the bi-monthly meetings of our Board. Each Manager has a range of clearly defined delegated responsibilities, including for some areas of expenditure, but all significant and strategic decisions remain the preserve of the Board.
In addition, we have three Committees consisting of a number of trustees who meet monthly to review aspects of our operation in more detail. These Committees do not have delegated responsibility for decision-making on significant matters which rests exclusively with the Board as a whole.
The Risk and Resources Committee reviews overarching risks facing our organisation and monitors measures to mitigate those risks. It also reviews financial performance, and HR and IT matters before they are considered by the Board.
The Food Bank Operations Committee reviews all operational aspects associated with our food bank service. The Community Support and Food Programmes Committee reviews performance across the two programmes and considers business cases for developing services, prior to formal approval at the Board.
Each trustee is required to be a member of at least one Committee but no more than two.
## _Staff Remuneration_
The Board alone makes decisions concerning the remuneration of our staff. One of the trustees has designated responsibility for keeping remuneration arrangements under review and making recommendations to the Board.
Page 11
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
Those recommendations take account of a number of factors including market conditions, inflation and the remuneration of other similar local charities.
## _Membership of National Bodies_
The charity is a member of the Independent Food Aid Network that represents around 900 independent food banks and collates anonymised data for all to use. We are also supporters of Feeding Britain which is a campaigning charity that tackles food poverty.
We are registered with the Information Commissioner’s Office as a Data Controller.
## _Risk Management_
The trustees have a robust risk policy in place. The Food Bank Operations Committee and the Community Support and Food Programmes Committee each identify and monitor operational risks relating to their respective parts of our business. The Risk and Resources Committee identifies and monitors operational risks relating to finance, HR and IT as well as overarching organisational risks. Each Committee reports in turn to the Board.
For the reporting year, the risks identified primarily focused on the impact of the cost-of-living crisis and the sharp rise in the number of people being referred to the food bank for support. We also identified and monitored risks associated with the introduction of new services as part of our Community Support Programme and Food Programmes.
## **Our Finances**
Over the course of this 7 month reporting period, the pressures on the financial performance of the Trust remained challenging as referral numbers grew from 600 clients per week in September to over 750 at December before falling back to around 550 at period end. Furthermore, the impact of the Cost of Living crisis remained apparent before starting to stabilise towards the end of the reporting period. This was all reflected in the cost of food purchases which averaged £17k per month, the same level as last year.
Over the 7 month period the income generated from all sources was £613k reflecting the very generous level of Grant funding together with an exceptional level of donations from individuals, church and local community groups. Outside of Grants all other donations averaged £33k per month, the same level as last year, a remarkable achievement given the current economic environment. Grants were received from Rothschilds, Mint Velvet, King Collimore Trust, GMSN and Bucks Council together with a significant contribution from the National Lottery. The key activities within the organisation remain with the Core Food Programme being complemented by the Community Support and Cookery activities, all of which developed and moved forward. Additionally, the Trust took on a School Meals programme linking up with several schools in the area to ensure those children in need were fed. To assist in this endeavour we received a very generous donation of £85k in February.
Against this, outgoings were just over £421k for the 7 month period. This included higher pay costs to resource the activities outlined above and as mentioned food purchases remained high at £110k. Building and premises costs were £32k as the refurbishment of the flat above Hills Café was completed to provide additional office and storage space.
Excluding the School Meals funding the core businesses generated a cash surplus of £84k in the period with Bank Balances at £698k – adding The School meals funding yields total cash balances of £788k. The movement in Debtors and accrual balances increases the cash surplus to an accounting profit of £108k
Page 12
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
Owing to the one off nature of some of our Grant income in this period, the levels of cash reserves will decline over the next 12 months as the Trust meets the cost of delivering the programmes going forward.
There are three designated reserves that are intended to ensure there are sufficient funds available to meet particular risks and future challenges. £80k has been set aside to meet any potential costs of having to close down the Charity, and a further £30k is earmarked to meet costs associated with potentially moving to new premises. Finally, a sum of £50k is earmarked for developing new services in our Community Support and Cookery programmes.
## **Relationships with related parties**
One Can Trust Ltd is the sole member of Open House Micklefield CIC, the organisation that operates Hills Café and as such Open House Micklefield CIC is a wholly owned subsidiary of One Can Trust Ltd.
Open House Micklefield CIC has its own Board of Directors and seeks to operate independently, or at least at arm’s length from One Can Trust Ltd, and there are intra company group services and loan agreements in place between the two companies to govern the commercial relationship between them.
One Can Trust Ltd has no other subsidiaries or relationships with other charities or organisations beyond conventional trading relationships with suppliers of good and services.
## **Trustees’ responsibilities in relation to the financial statements**
Company law requires the Trustees to prepare financial statements, which give a true and fair view of the state of affairs of the Foundation at the end of the financial year and of its surplus or deficit for the period then ended. In so doing, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently,
- Observe the methods and principles in the Charities SORP (FRS 102);
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the foundation will continue in the foreseeable future.
The Trustees are responsible for keeping proper accounting records that 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. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.
Page 13
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**TRUSTEE’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
## **Small company exemption**
The Trustees’ Report has been prepared in accordance with the small companies’ regime under Part 15 of the Companies Act 2006.
By order of the Trustees
Gareth Pugh Treasurer
Date: 27 November 2024
Page 14
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**INDEPENDENT EXAMINER’S REPORT**
FOR THE PERIOD ENDED 31 March 2024
EORTI report to the trustees on my examination of the accounts of One Can Trust Ltd (“the Company”) for the period ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (who are also the directors of the company 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 for this year 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.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
1. accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
2. the accounts do not accord with such records; or
3. the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
4. the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Andrew Watkinson FCCA Saffery LLP St John's Court, Easton Street High Wycombe Buckinghamshire HP11 1JX Date: 28 November 2024
Page 15
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
FOR THE PERIOD ENDED 31 March 2024
||||||**For the year**|
|---|---|---|---|---|---|
|||**For the 7 month period ended 31 March**|||**ended 31**|
||||**2024**||**August 2023**|
|||**Unrestricted**|**Restricted**|**Total Funds**||
||**Notes**|**funds**|**funds**|**2024**|**Total Funds**|
|||**£**|**£**|**£**|**£**|
|**Incoming resources**||||||
|Donations and legacies|2|244,472|361,000|605,472|618,094|
|Charitable activities|3|-|-|-|1,700|
|Investments|4|7,766|-|7,766|4,229|
|**Total**||**252,238**|**361,000**|**613,238**|**624,023**|
|**Resources expended**||||||
|Raising funds|5|112,281|-|112,281|185,429|
|Charitable activities|6|117,810|190,718|308,528|407,278|
|**Total**||**230,091**|**190,718**|**420,809**|592,707|
|**Net**
**income/(expenditure)**||**22,147**|**170,282**|**192,429**|31,316|
|Reconciliation of funds:||||||
|Total funds brought
forward||564,305|28,684|592,989|561,673|
|**Total funds carried**
**forward**||**586,452**|**198,966**|**785,418**|**592,989**|
Page 16
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**BALANCE SHEET**
AS AT 31 March 2024
|||||**Total**|**Total**|
|---|---|---|---|---|---|
|**Recommended**
**categories by activity**|**Notes**|**Unrestricted**
**funds**|**Restricted**
**funds**|**Funds**
**2024**|**Funds**
**2023**|
|||**£**|**£**|**£**|**£**|
|Current assets||||||
|Debtors||3,000|-|3,000|-|
|Cash at bank and in
hand||588,891|199,560|788,451|617,767|
|Total current assets||**591,891**|**199,560**|**791,451**|617,767|
|Creditors: amounts||||||
|falling due within one|10|5,439|594|6,033|24,778|
|year||||||
|Net current
assets/(liabilities)||**586,452**|**198,966**|**785,418**|592,989|
|**Total net assets**||**586,452**|**198,966**|**785,418**|**592,989**|
|Funds of the Charity||||||
|Unrestricted funds|11|586,452|-|586,452|564,305|
|Restricted income
funds|11|-|198,966|198,966|28,684|
|Endowment funds|11|-|-|-|-|
|**Total funds**||**586,452**|**198,966**|**785,418**|**592,989**|
The accounting policies and notes on pages 19 – 27 form part of these financial statements.
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The Trustee Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and 387 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
27 November 2024
The financial statements were approved by the Board on …………. and signed on its behalf by:
Gareth Pugh Treasurer
Registered Charity Number: 1148626 Registered Company Number: 08137465
Page 17
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**STATEMENT OF CASH FLOWS**
FOR THE PERIOD ENDED 31 March 2024
|**Cash flows from operating activities:**
Net cash provided by (used in) operating activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at 31 August 2023
**Cash and cash equivalents at 31 March 2024**
**Reconciliation of net income/(expenditure) to cash flows from**
**operating activities**
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)
**Adjustments for:**
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
**Net cash provided by (used in) operating activities**|**2024**
**Total funds**
**2023**
**Total funds**
**£**
**£**
170,684
33,891|
|---|---|
||170,684
33,891
617,767
583,876|
||788,451
617,767|
||**2024**
**Total funds**
**2023 Total**
**funds**
**£**
**£**
192,429
31,316
(3,000)
(18,746)
2,575|
||170,684
33,891|
The net debt is made up entirely by the cash balance outline above, and all movements in the year were cash flow changes.
Page 18
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **1 Accounting Policies**
## **1.1 Accounting Policies**
The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are set out below.
## **1.2 Basis of preparation**
These accounts have been prepared under the historical cost convention.
These accounts have been prepared in accordance with “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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
These accounts are presented in pounds sterling which is the functional currency of the Charity. Monetary amounts are rounded to the nearest pound.
The financial statements have been prepared for a period other than a year, therefore the amounts are not directly comparable.
## **1.3 Going concern**
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Income from donations or grants**
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.
There is no monetary value put on donated goods received.
## **1.5 Income from charitable activities**
Income from charitable activities is recognised over the period to which the income relates. Any amounts relating to future periods are deferred.
Page 19
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **1.6 Investment income**
Interest received is recognised when it is received in the relevant bank account.
## **1.7 Expenditure**
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.
Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.
Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.
All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.
Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.
## **1.8 Pensions**
The Charity makes contributions to defined contribution pension schemes through auto enrolment. These contributions are charged to the income and expenditure account in the period in which they become payable.
## **1.9 Taxation**
The One Can Trust is a registered charity and is thus exempt from tax on income and gains, therefore no tax charges have arisen during the period to March 2024 or in the prior year.
## **1.10 Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **1.11 Fund accounting**
Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific conditions imposed by donors or which have been raised by the charity for particular purposes.
Page 20
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **1.12 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
## **1.13 Financial instruments**
The company has applied the provisions of section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instrument Issues” of FRS 102 to its financial statements
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
## **1.14 Leasing and Hire Purchase Contracts**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Page 21
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **2 Income from Donations and Legacies**
|**Church donations**
**Community Groups**
**Company Donations**
**General grants**
**provided by**
**Government/other**
**charities**
**Individual donations**
**Local**
**Giving/Stewardship**
**School donations**
**Total**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**funds**
**2024**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
9,754
-
9,754
14,733
-
14,733
16,307
-
16,307
58,213
-
58,213
10,941
68,525
79,466
46,995
28,134
75,129
-
292,475
292,475
56,178
151,232
207,410
101,993
-
101,993
95,755
-
95,755
101,181
-
101,181
164,161
-
164,161
4,296
-
4,296
2,692
-
2,692|
|---|---|
||244,472
361,000
605,472
438,728
179,366
618,094|
## **3 Income from Charitable Activities**
|**Fundraising**
**Total**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**2024**
**Total funds**
**2023**
**£**
**£**
**£**
**£**
-
-
-
1,700|
|---|---|
||-
-
-
1,700|
Page 22
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **4 Income from Investments**
|**Interest income**
**Total**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**2024**
**Total funds**
**2023**
**£**
**£**
**£**
**£**
7,766
-
7,766
4,229|
|---|---|
||7,766
-
7,766
4,229|
## **5 Expenditure on Raising Funds**
|Support Costs (Note 7)
**Total**|**Total funds 2024**
**Total funds 2023**
**£**
**£**
112,281
185,428|
|---|---|
||112,281
185,428|
In the current period all costs of raising funds are categorised as unrestricted expenditure (2023: £20,325 was categorised as restricted expenditure).
## **6 Expenditure on Charitable Activities**
|Food purchases and bags
Cookery project
Community support
programme
School meal
Legal/professional fees
Wages & salaries
Support Costs (Note 7)
**Total**|**Total funds 2024**
**Total funds 2023**
**£**
**£**
110,414
195,086
3,607
22,666
4,235
6,411
-
5,530
4,098
66,051
112,280
185,428|
|---|---|
||308,528
407,278|
Included in the above is £190,718 (2023: 130,357) restricted expenditure.
Page 23
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **7 Support Costs**
|Buildings and premises
Furniture and equipment
Other support costs
Vehicle running costs
Travel and delivery
Rent
Service charge
Electricity
Insurance
Telephone
Cleaning and safety
Publicity and communications
Training
Bank charges
Miscellaneous
Computer costs
Wages and salaries
Printing and stationery
**Total**
Allocated:
Raising funds (Note 5)
Charitable activities (Note 6)|**Total funds 2024**
**Total funds 2023**
**£**
**£**
31,582
29,298
2,933
197
2,854
8,025
1.241
4,164
3,885
8,414
3,500
6,000
27,304
9,172
5,778
5,295
639
2,626
2,112
2,273
4,848
10,201
2,549
4,213
24
708
237
295
3,221
139
2,533
4,794
128,714
269,350
2,521
5,691|
|---|---|
||**224,561**
370,856|
||112,281
185,428
112,280
185,428|
||224,561
370,856|
Page 24
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **8 Details of certain Items of Expenditure**
||2024|2023|
|---|---|---|
||£|£|
|**Independent examiner’s fees**|3,000|3,000|
## **9 Employee’s Emoluments**
## **9.1 Staff Costs**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|**Salaries and wages**|174,990|243,214|
|**Social security costs**|15,123|18,437|
|**Pension costs (defined contribution scheme)**|4,652|7,699|
|**Total staff costs**|194,765|269,350|
In this period and the previous year, no employees received employee benefits of more than £60,000.
## **9.2 Average head count in the period**
In 2024 the average number of employees was 11 (2023: 9).
## **10 Creditors: Amounts falling due within one year**
|**Trade creditors**
**Income tax payable**
**Accruals and deferred income**
**Other creditors**
**Total**|**Total funds**
**2024**
**Total funds**
**2023**
**£**
**£**
-
12,499
-
6,145
4,304
3,522
1,728
2,612|
|---|---|
||6,032
24,778|
Page 25
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **11 Charity funds**
## **11.1 Details of material funds held and movements during the CURRENT reporting period**
|||**Fund**|||||**Fund**|
|---|---|---|---|---|---|---|---|
|**Fund**|**Types**|**balances**
**brought**|**Income**|**Expenditure**|**Transfers**|**Gains and**
**losses**|**balances**
**carried**|
|||**forward**|||||**forward**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted**||||||||
|**funds**||||||||
|||564,305|
252,238|(230,091)|-|-|586,452|
|**Restricted funds**||||||||
|||28,684|
361,000|(190,718)|-|-|198,966|
|**Total**||592,989|
613,238|(420,809)|-|-|785,418|
|**1.2 Details of material funds**|||**held and movements during**||**the PREVIOUS reporting**|||
|**eriod**||||||||
|||**Fund**|||||**Fund**|
|**Fund**|**Types**|**balances**
**brought**|**Income**|**Expenditure**|**Transfers**|**Gains and**
**losses**|**balances**
**carried**|
|||**forward**|||||**forward**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted**||||||||
|**funds**||||||||
|||561,673|
444,657|(442,025)|-|-|564,305|
|**Restricted funds**||||||||
|||-|
179,366|(150,682)|-|-|28,684|
|**Total**||561,673|
624,023|(592,707)|-|-|592,989|
## **11.2 Details of material funds held and movements during the PREVIOUS reporting period**
Page 26
> Docusign Envelope ID: F717C706-3E72-4ACD-B178-5E9328B21EFF **ONE CAN TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS**
FOR THE PERIOD ENDED 31 March 2024
## **12 Transactions with trustees and related parties**
## **12.1 Trustee remuneration and benefits**
None of the trustees received any remuneration in either the current or previous period.
## **12.2 Trustees' expenses**
None of the trustees had any expenses reimbursed in either the current or previous period.
## **12.3 Transaction(s) with related parties**
During the period, the Board approved a “draw down” loan facility for Open House Micklefield CIC up to a capped value of £10,000. In the period, £3,000 was advance to Open House Micklefield CIC but, to date, no further advances have been made.
## **13 Additional Disclosures**
On 18 August 2023, Open House Micklefield CIC, a company registered in England and Wales, became a wholly owned subsidiary of One Can Trust Limited on the basis of control. The company has no share capital and is supported in its day to day operations by the One Can Trust. This company operates the Hills Café, which functions as a not for profit community café.
## **14 Contingent liabilities**
At the period end there were additional amounts payable in respect of historic incremental rent and service charge increases, it is estimated that the total of these costs was £12,500.
## **15 Capital commitment**
At the end of the period, the Charity was committed to capital expenditure of £20,338 on a motor vehicle for use by the Charity.
## **16 Company limited by guarantee**
One Can Trust Ltd is a company limited by guarantee. As such, the company does not have any 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 27