The
Well I
WOLVERHAMPTON FOODBANK Ltd
eratln
THE WELL
TRUSTEES, REPORT AND STATUTORY ACCOUNTS
FOR THE YEAR ENDED
31st March 2024

Wolverhampton Foodbank Ltd operating as The Well
Index
Page I
Charity Information
Page 2-12
Report of the Trustees
Page 13
Independent Examiners report
Page 14
Statement of Financial Activities
Page 15
Balance Sheet
Pages 16 - 23
Notes to Accounts

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
Report of the Directorsnrustees and Independently examined financial statements for the
period ended 31st March 2024.
Reference and Administrative Information
Charity Name:
Wolverhampton Foodbank Ltd Operatin8 a5 THE WELL
Charity registration number:
1149434
Company Number
07962969
Operatlonal Address:
Units 13,15 & 16,
Wulfrun Trading Estate,
Stafford Road,
Wolverhampton,
WVIO 6HH
Trustees:
Mr James Ashfield (Chair)
Mrs Catherine Price
Mrs Yvonne Ramsey
Secretarynreasurer:
Mrs Caroline Price
Project Leaders:
Mr Gary Price
Mrs Caroline Price
Independent Examlner
G P Brookes FCA BSC
Chartered Accountant
130 Wombourne Park
Wombourne
WV95HB
Bank:
HSBC
PO Box 33
9 Queen Square
Wolverhampton
WVI ITE

Our aim5 and objectives
The Charity's principal objectives as set out in its Constitution are:
l. To relieve persons in the City of Wolverhampton and surrounding areas who are in
conditions of need, hardship, or distress ("Beneficiaries") in such ways as the Trustees from
time to time consider appropriate and are consistent with showing Christian compassion.
2. In furtherance of the first object, to provide free of charge, directly or indirectly, emergency
food parcels to beneficiaries referred by partner charities or health or social services or
similar public bodies.
3. In furtherance of the first object, to provide such other support to beneficiaries, including
but not limited to clothing or household items, counselling, or advice, as the Trustees from
time to time consider appropriate and consistent with showing Christian compassion.
4. In furtherance of the first object, to promote the needs of beneficiaries and to solicit funds
and donations or supplies of appropriate items for food parcels.
5. In furtherance of the first object, to assist and advise any other charity or body intendin8 to
seek charitable status with substantially similar objects.
Structure, Governance and Management ('ensurlng the work meets our alms,)
The Charitable Company was established on 23rd February 2012 under a Memorandum of
Association which detailed the objects and powers of the charitable company and is governed
under its Articles of Association. In common with such entities, it is established as a Company
limited by guarantee with liability of members limited to a sum not exceeding £10.
The Directors, who are also Trustees of the charity for the purposes of charity law, meet at
least six times a year to review operational/ financial performance and strategy in conjunctlon
wlth the Project Leaders.
The day-to-day implementation of the strategic plan, together with the development of
strategy, is led by the Project Leaders, ably supported by the team of employees &
volunteers.
Monthly accounts are overseen by the Treasurer with the support of the Finance Team.
As the project has grown, the Board has recognised the need to strengthen our internal
accountin8 Systems, both by delegation of duties, and by including additional checks. We
have an online accounting system, which supports monthly reporting.
If any significant matters of policy or key decision-making arise, including financial deci5ion5,
these will be referred to the Trustees for approval.

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
Actlvlties
I.PROVIDING EMERGENCI FOOD
OILETRIES
BABY PRODUCTS
'1 really appreciate this. It wlll go a long. long way and really helps me.
Thank you to the foodbank. I thlnk IYS 50 generous of everyone
Providing emergency parcels of food and other essential household items to those living in
the Borough of Wolverhampton and borders, continues to be the basis of the Project's work.
Our core work previously reported has continued during this period i.e. deliverin8 across the
WV postcodes Tuesdays-Fridays; limitin8 the number of parcels to 5 in a 6 month period to
discourage dependency. working with a set parcel contents list for consistency,
During this reportin8 period we have experienced a downturn in the level of food & toiletry
resources and hear a similar story from other local projects. This is likely to be a reflection of
the present national cost of living crisis. In response, we have reduced the parcel contents
whilst continuin8 With the same referral limit, in order to give some support to as many
people as possible.
The total number of individuals to whom we provide parcels varies from month to month,
reflecting the range of those in need who are referred to us for support i.e. single people,
couples, small and large families. The lowest/highest number of deliveries during this year
was 7138 per day respettively.
For our recipients, the short-term support we offer has great impact:
I ve only had to use The Well once, but it really
helped me get on myfeet.
I'm really thankAulAor It.
Yhonk you so muchAor thisAood. Maybe life is not thot bad after all"

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
The chart below shows the ongoing need over the last 5 years..
The Well- Referrals Fulfilled By Year
15000
5000
2019-19
4285
2020-20
2021-21
2022-22
5374
2023-24
4170
No.Referrals
4703
BNo.Adults
6052
7264
7279
8106
6311
No. Children
3846
4363
4482
5297
4107
Total Fed
9898
11627
11761
13403
10418
No.Referral8 o No.Adults • No. Children •Total Fed
The percentage of adults to children (age 0-15 yrs) supported was 60.6% to 39.4Yo
respectively.
'rhis is the overoll count of those supported & includes repeated support during the year).
An approximate total of 59.7 tonnes of foodltoiletries have been distributed in parcels durin8
this year.
2006- 2024
As of 31st March 2024, these were the total figures of those who have received direct support
from us since the project be8an in 2006:
51721
DELIVERIES
[1118847
SUPPORTED
44027
CHILDREN
74820
ADULTS
3.WORKING WITH PARTNER AGENCIES
Our primary way of ensuring our support is targeted to those in greatest need is via our
referral process. We have a long established, wide range of statutory and voluntary support
agencies who make referrals to us. New referral agencies connect with us year on year.

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
In consequence, self-referrals are kept to a minimum. The direct requests we do respond to
are done so with compassion. Guidance is given that future referrals will need to be via a
partner agency. This ensures we maintain the integrity of our system of support and, we
hope, provides the parcel recipient with the possibility of further help with the underlying
reasons for their financial difficulties.
We continue to take most of the referrals on our phone line as this enables us to control the
number of referrals we can respond to. We have continued to take a limited number of
referrals by email from designated partners.
Having a mix of email and phone referrals means that less a8encies are waiting to get through
by phone.
4.RECORDING INFORMATION
We have IT systems which enable us to record referral, donor and team related information
effectively. This helps us to monitor and analyse referrals as well as thank those who
generously support us.
We are registered under the Data Protection Act and all team members give written
agreement to adhere to our Confidentiality & Privacy policies.
5.COMMUNICATION
We have continued to utilise the support of a graphic designer to oversee our presence on
social media and newsletters, as these are the main ways we keep our supporters up to date
with our work. Social media campaignslappeals have gone out through the year on particular
themes, including - Easter Eggs, Motherfs & Fatherfs Day, Harvest, Reverse Advent Calendar,
500 Club.
SOCIAL MEDIA
We have also registered with 'Bank The Food,, a free online app. Foodbanks can upload their
current needs, and shoppers can then see their shopping Ilst and purchase donations
accordingly.
Our local newspaper and community radio have continued to hi8hli8ht our needs which is so
appreciated.

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
6.DONATIONS OF SUPPLIES & FINANCE
The Well continues to trust God in praying for all the provisions we need.
The total recorded weight of food/toiletries donations received is 68.1 tonnes, a reduction of
12 tonnes on the previous year. (This is an approximate- in the busyness some weighing in
can get missed and packaging wei8ht cannot always be deducted for prattical reason5).
Food
oilet Donation Points:
Permanent donation points have continued in a number of local supermarkets, churches and
businesses. All these donation points are well supported by the public to whom we are
immensely 8rateful. One supermarket offered us a community food drive day which was
enabled us to both stock up our shelves with donations as well as connect directly with
shoppers who support us through the store's regular donation point.
onsored Events
Fundraisers:
Whilst we do not actively organise sponsored events, we are so grateful to those who give
their considerable time & effort to set up & complete these; as well as all those who support
so generously with sponsorship.
We have an active Just Giving page, with both regular and fundraiser supporters,
Events taking place during this year included:
'Sponge The Teacherf school fundraiser
'We15h Wander, Well Walkers annual marathon
Paris Marathon Fundraiser
Birthday 'match givin8'
IOOkm bike ride on a gym bike
Business
Partners
Other Charities Su
ort
We have continued to receive support, both financially and in donations of goods from a
number of businesses across the city, as well as some of our referral agencies.
We deeply appreciate and value this support and are inspired by the creative ways
funds/donations are raised.
One example is a nearby village fruit & vegetable store regularly donate bulk fresh items.
Another is a local independent coffee shop having a 'Pay It Forward. initiative, encouraging
Customers to give a little extra for The Well with their coffee & food purchase.
A third is a multi-national business With a charity where staff can apply on behalf of their
chosen charity.

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
Church Su
The support of our local Christian community has been part of the foundation of our work
from the beginning. They provide prayer, volunteers, finance, and donation points, all of
which strengthen our work. One example is two local churches joining up to organise a quiz
fundraiser.
ort
Schools Partnershi
Being given the opportunity to share about our work with student5 in primary and secondary
schools. Often at Harvest and Christmas. School minibuses dropping off large donations is
always memorable. The students often decorate their boxes and attach handwritten notes or
Christmas cards filled with kindness.
'We created a competition across the whole school (years 9-11).
The teachers have become quite competltlve.
Our maln aim was to help people closest to us In our neighbourhoods at
Christmas
and I think iys been o reol succes5.
We lookforword to worklng wlth The Well In theAuture.'
Grant Fundin
Nei8hbourly is a national supermarkets charity portal through which we have received 3
grants from Lidl durin8 this period: for food, sanitary products & runnin8 Costs.
Individuals
Our work is underpinned by the faithful support of countless individuals, whether it is
dropping off donations to our warehouse, or giving financially.
There has been a further increase in new supporters giving to us as a single or regular
donation, often by Standing Order. This is particularly helpful as it enables us to plan for fabric
costs (e.8.: Uti lities. rent, insurances).
This comment from a generous donor to our Easter Egg Appeal expresses how fulfilling it is to
8ive to SUPPOrt others:
"l am glad we were able to contribute. I know it made meAeel good and I
hope it bmught some much needed joy and smiles to somefamllles."

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
7.BULK PURCHASES
DONATIONS
We continue to receive goods from His Church (food/toiletries & household supplies pallets)
and In Kind Direct {toiletries) charities. who just charge an administrative fee, saving us £IOOs.
Warburtons Bakery Depot continue to supply fresh bread products weekly sufficient for all
our parcels.
8.SUPPORT TO OTHER ORGANISATIONS
a. The Haven
For the Ilth year, The Well has supported the ciws women's refuge project by providing 20
start-up toiletry packs each month.
b. Tithin
Out
As an expression of our Christian faith, we continue to share IO% of the financial donations
we receive with other local projects. We also aim to do the same with the supplies we
receive.
Sowin
Our criteria for who we support is either:
-the Project provides support to others with similar alms, objectives, and values to The Well
-the Project has been a source of support to us
During thls year, we have used the majority of the tithe funding to purchase food pallets.
11.5 tonnes of provision have been distributed across 14 projects.
Due to our ongoing financial challenges, this aspect of our work will be subject to review in
the next financial year.
9. TEAM
a)Volunteers
Our volunteers continue to be the heartbeat of the project. The Well would not be able to
operate effectively without them.
They fulfil vital roles, comprising drivers (delivering parcels/collectin8 donations), warehouse
team (checkin8, Sorting & stickering donations / packing parcels) & administrative team
(dealing with telephone referrals. database inputting, financial processin& &
correspondence.)
We have again welcomed short term volunteers. including businesses who offer community
volunteering day5 to staff, and school/youth groups who come with staff on a tour of the
warehouse and have the opportunity to sort and sticker food donations.
-Thankyou so much for allowing me to come and volunteer. everyone has
been so welcomingl Being able to give back to my community is very
important to me and is very humbling. I hope to come back again soon-

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
b)Employees
We have reduced from 6 to 4 employees during this year. They are vital in the key roles of
project leader, deputising cover, administrator, and main driver.
Due to our current financial challenges, we reluctantly took the decision of redundancy for
our warehouse apprentice role near the end of this year.
Assets
We are committed to the disposal of Surplus assets no longer needed and to the acquisition
of assets necessary to support the aims and objectives of the Charity.
Premlses
We continue to operate from rented premises, across 3 connected small industrial warehouse
units with attached offices on a business estate.
How our activities dellver public beneflt
The Trustees & Projett Leaders have referred to the Charity Commisslon's general guidance
on public benefit when reviewing our aims and objectives and planning our activities. Our
service is completely free and is available to anyone without prejudice. The Trustees & Project
Leaders have ensured that the activities undertaken will contribute to the aims and objectives
of the charity. The Trustees & Project Leaders are therefore confident that The Well meets
the public benefit requirements.
Rlsk Assessment
The Board recognises that some risk is positive and beneficial in assistin8 the Project to
stretch and grow.
The Board have identified the followin8 important potential risks and how they are miti8ated.
These are not set out in any particular order of priority:
Financial - insufficient income to meet ex
We regularly connect with our 5UPPOrters through a variety of communication methods to
highlight The Well's financial needs and the ways of donating to Us easily.
The Board is committed to looking at a diversity of possible income streams so that we are
not solely dependent upon donations.
enditure

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
Financial- loss or misuse of funds.
The Board and Treasurer work together to ensure that all donations are used for the purpose
for which they were intended by the donors. Regular reviews are made of expenditure to
ensure appropriateness and best value. Direct access to the Project's deposit accounts is
strictly limited.
Com
liance - breach of le
islative or re
ulato
uirements.
The Board work to ensure the Project complies with all aspects of running a warehouse based
community project. During this reporting period, in reco8nition of our legal responsibilities,
we have taken the step to secure the services of a company providing employment law, HR &
health & safety services.
re
Employer's Liability Insurance is in place should any incident occur.
Safe
securit
and wellbein
of staff and volunteers.
The Project has an application and induction process for all staff which includes Health &
Safety risks & policies. A Safeguarding Policy is also in place. Keyworkers are trained in First
Aid at Work & Fire Safety.
All our staff and key volunteers work to ensure a positive and inclusive community/family
environment.
Re
utation - incidents that may have a negative effect on how the Project Is perceived.
The Board recognises that any issues related to the risks detailed above could damage the
reputation of the Project, and ultimately impact on our work in supporting some of the most
vulnerable in the community. The Board ensures that the charitable artivities reflect the
charitable aims of the Project.
The Board of Trustees are informed of any changes to the overall levels of risk, particularly
when introducing a new activity.
Reserve5 Pollcy
As a Christian Project, the exercising of faith in provision is an inherent part of our belief. The
necessity to uphold this belief has an impact on our reserve5 policy. As the primary expression
of the Christian Faith is inseparably bound up in giving sacrificially, we do not believe in
retaining excessive funds as a safeguard to unrealised adverse financial circumstances.
However, given the current economic climate the trustees recognise that it would be
advisable to build up some reserves to protect against future economic and financial
io

Wolverhampton Foodbank Ltd operating as The Well
Directors Report for the year ended 31 March 2024
challenges. Unfortunately, we have not been able to so during this period.
The Trustees continue to act prudently in the financial management of the charity.
Investment Pollcy
The Trustees have considered the most appropriate policy for investing funds and consider
that holding funds in a bank deposit account gives some return on capital whilst ensuring
funds are available should they be required.
Fundralslng Actlvitie5
The charity has recognised the value of initiating fundraising activlties which have proved
succe55ful durin8 this reporting period. We are extremely grateful to all those who have
responded so 8enerously.
We have a very active online giving platform with the addition of text giving for specific
events.
Where members of the public undertake fundraising activities/events to support the work of
The Well, we are very happy to provide information and resources to support them. We are
deeply grateful for their support in this way, with examples detailed earlier in the report.
Review of the Transactions and Flnancial Posltlon of the Charltv
In 2023-24, the charity made a small £(1,729) in contrast to the previous year's deficit of
£67,861. Income increased from £163,179 in 2022/23 to £223,939 this year whilst
expenditure decreased from £231,040 in 2022/23 to £225,668.
Following a serious incident report to the Charity Commission in December 2023 (this was
fully disclosed in the annual report for 2022-2023) the Trustees continued to closely monitor
The Well's financial situation. A number of attions have been taken which have helped work
through the underlying issues that The Well faces. These have resulted in a more positive
financial position for 2023-2024 at year end. In summary:
Reduced staffing and staff costs
Issuing an urgent appeal to current and historic supporter5 for increased donations
which was successful
Taking independent financial advice
Prioritizing payments to employees, HMRC and the landlord
li

Wolverhampton Foodbank Ltd operatln8 as The Well
Dlrectors Report for the year ended 31 March 2024
Ne8Otlated a payment plan wlth HMRC
Contlnuins dlscussSon5 wlth the landlord
The Trustees contlnue to closely monltor The Well's flnances as well as Identifying rlsks and
seekln8 to mltlgate these. The wlder soclal and economle context remains extremely
challenglng, and the Trustees and management contlnue to take actlons to ensure the
contlnued successful operatlon of The Well.
Statement of Dlrectors Responslbllltles
The Olrectors are requlred under Company Law to prepare financlal statements for each
flnanclal yÈar whlch glve5 a true and fair vlew of the state of affalrs of the company and of Its
sults for that period, In preparlng those flnanclal Statements the dlre¢tors are requlred to:
al Select 5ultable accountln8 pollcles and apply them consIstent￿.
b) Make Judgments and estlmates that are reasonable and prudent.
cl prepare the flnanclal ststements on a 8olng concern basls unless It Is Inapproprlate to
assume that the company wlll contlnue In buslness.
The Dlrectors are responslble forthe keepln8 of proper accountlng records whlch dlsclose
.wlth reasonable accuracy at any tlme the flnanclal posltlon-of the charlty. They are also
responslble for safe8uardlngthe assets of the company and hence for taklng reasonable steps
for the preventlon and detertlon of fraud and ather Irregularltles.
Approved by the Dlrectors on 27th November 2024 and slgned on their behalf by:
J. Ashfield (Chalr)
12

Wolverhampton Foodbank Ltd operatlng as The Well
for the year ended 31 March 2024
Independent Examiners Report to the Trustees OA Wofverhampton Foodbonk oper(rting os the Well
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March
2024 whlch are set out on the following pages.
Responslbilltles and basls of report
As the charity trustees of the company (who are treated as directors for the purposes of the company lawl you
are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
21)061 The 2006 Act, I
Having satisfled myself that the accounts of the company are not required under Part 16 of the 2006 Act and are
eligible for independent examination, I report in respert of my examlnation of your company's accounts as
carried out under sectlon 145 of the Charities Act 2011. In carrying out my examination I have followed the
Dlrectlons glven by the Charity Commlsslon under section 14515) Ib) of the 2011 Art
Independent Exomlners Statement
I have completed my examinatSon. I conflrm that no matters have come to my attentlon In connection with the
examinatlon givln8 me cause to belleve that in any rnaterlal respect .
(i)
accountln8 records were not kept in respert of the company as requlred by section 386 of the 2006
Art. or
the accounts do not accord with those records: or
the accounts do not comply wlth the accounting requirements of sertlon 396 of the 2006 Act other
than any requirement that he accounts give a 'true and fair view, whlch Is not a matter considered
as part of an Independent examination ;or
Golnq Concern
The Trustees have been aware of an overall decline In Income for a number of months but are artlvely
addressln81t.
12)
13)
As wlth many slmilar organlsatlons, the Well's Income is predomlnantly dependent on charitable and other
donations and short-term, small-scale grants.
Thls Income Is unpredlctable and influenced by cost of livlng and Inflation factors. Durln8 this reporting period,
untll recently the income streams have not matched committed expenditure levels.
Consequently wlth cost savlngs in all categorles of expendlture now under way, both the short and long term
actlvities are belng re-assessed. This may Involve tempering current charitable actlvltles for a time until a
breakeven is achieved and then movin8 on towards fulfilling the Well's obligations to its creditors .
On this basls it is anticipated and envlsaged that the sltuatlon will improve and glve confidence to afflrm a golng
concern status for the Well .
In line wlth current regulatlon requlrements thi5 has been reported to the Charity Comm55sSon
However I have no other concerns and have come across or other matters In connectlon wlth the examlnatlon to
which attention should be drawn in this report In orderto enable a proper understanding of the accounts to be
reached.
Slgned
Date 28th November 2024
Gary Peter Brookes
Fellow of The Institute of Chartered Accountants of England and Wales
130 Wombourne Park
Wombourne
South Staff5
WV5 OLY
13

Wolverhampton Foodbank Ltd operatlng as The Well
Statement of Financial Artivitie5
for the year ended 31 March 2024
2024
2023
Unrestri¢ted
Restrlcted
Total
Total
Income
Voluntary Income
Investment Income
Other Income
210,707
14
13,218
223,925
14
159,389
30
3,760
163,179
Total Income
210,721
13,218
223,939
Expenses
Charitable actlvities
218,316
7,352
225,668
231,040
Total Expenses
218,316
7,352
225,668
231,040
Net Income
17,595)
5,866
11,729)
(67,861)
Reconclllatlon of Fund5
Total funds brought forward
1,727
3,286
5,013
72,874
Total funds carried forward
(5,868
9,152
3,284
5,013
There were no reco8nised gains or105ses for 2024 and 2023 otherthan those included in the Financial
Activities
This SOFA includes an income and expenditure account in accordance with Companies Act requirements.
** Full comparatives for 2023 are shown in note 11
14

Wolverhampton Foodbank Ltd operatln8 as The Well
Balance Sheet
As at 31 March 2024
Company number 7962969
2024
2023
Flxed assets
Tan8lble assets
5,274
9,607
Current assets
Debtors
Cash at bank and In hand
4,485
14,414
1,926
3,223
Total current a55ets
18,899
5,149
Credltors: amount5 fallln8 due wlthln one year
{20,889)
(9,743)
Net current assets
{1,990)
{4,594)
Net assets
3,284
5,013
Funds ofthe Charfty
Restrlcted Funds
Unrestrlcted funds
io
9,152
(5,8681
3,286
1,727
Total funds
3,284
5,013
The dlrectors have taken advantage of the Companles Act 2006 In not havlng these accounts audlted
under5ectlon 477 (1). No mernbers have required the company to obtaln an audlt of Ets accounts for the
year In questlon In accordance wlth sectlon 476.
The Dlrectors acknowledge thelr responslbllitles for ensurln8 that he company keeps accountlng records
whlch comply wSth s386 and s387 of the Companles Art 2006 and for preparfn8 accounts whlch glve a
true and falr vlew of the state of affalrs of the company as at 31 March 2024 and of Its deflcSt for the year
then ended In accordance with the requlrements of 5396 and whlch complywbth the requlrement5 of the
Act relatlng to the accounts so far as applicable to the company.
The accounts have been prepared In accordance wlth the provtslons In Part 15 of the Companles Act 2006
appllcable to companle5 subjert to the small cornpanie5 reglme.
Trustee
Trustee Name ....................
Date of board approval 27 November 2024
15

Wolverhampton Foodbank Ltd operatlng as The Well
Notes to the accounts
for the year ended 31 March 2024
l. Accounting Pollcles
Basis of preparatlon
The charity is a Charitable Company and constitutes a public benefit entity as defined by FRSIO2.
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: 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) second edition published October 2019, the Charities Act 2011 the and UK
Generally Accepted Practice.
The financial statements have been prepared on a going concern basis under the historical cost
convention modified to include certain items at fair value.
No changes have been made to the financial statements for previous years unless otherwise stated withln
the notes as a prior year adjustment.
Funds
Unrestrlcted funds
Unrestricted funds 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.
Designated funds comprise of 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 those funds which are to be used in accordance with specific
restrictlons imposed by donors which have been raised by the charity for
particular purposes. The cost 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.
Donations received for a specific object or invited by the charity for a speciflc object. The funds may only
be expended on the specific object for which they were given. Any balance rernaining unspent at the end of
each year must be carried forward as a balance on that fund. The charity does not usually invest separately
for each fund.
Deslgnated funds
Restrlcted funds
Income Recognltlon
Donations are recognised when received. All other income is recognised when it is receivable. All incoming
resources are accounted for 8ross.
the charlty becomes entitled to the resources:
the trustees are virtually certain they will receive the resources: and
the monetary value can be measured with sufficient reliability.
16

Wolverhampton Foodbank Ltd operating as The Well
Notes to the accounts
for the year ended 31 March 2024
Credltors and provislons
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their
settlement arnount after allowing for any trade discounts due.
Goln8 Concern
The Trustees consider that the charity remains viable for the year ahead however this depends on
sympathetic individuals and Christian groups continuing to donate gifts to fund The Well's working capital
requirements.
Governance costs
Includes costs of the preparation and examination of statutory accounts, the costs of Trustee meetings and
cost of any legal advice to Trustees on governance or constitutional matters.
Support Costs
Support costs include central functions and have been allocated to activity cost cate8orles on a basls
consistent with the use of resources.
Glfts In Klnd
Operating as a Foodbank the charity receives and distributes food either donated or purchased at minimal
costs.
In the year the amount of food received was 68 tonnes and distributed accordingly
Volunteer help
The value of any voluntary help received is not Included in the accounts but is described in the Trustees,
annual report
Flxed assets
Fixed assets are stated at cost less accumulated depreciation. Depreciation on fixed assets is provided at
rate calculated to write off the cost of each asset over its expected useful life as follows:
Motor Vehlcles
Warehouse Equipment
25% straight line
20% straight line
17

Wolverhampton Foodbank Ltd operatlng as The Well
Notes to the accounts
for the year ended 31 March 2024
2. Income
Unrestricted Restrlcted
2024
2023
Analysls
Voluntary Income
Donations and Glfts under £l.000
Donations fron Individuals over £1,000
Gift Aid Tax recovered
Donations from local churches
Set Me Free trust
SiRma Properties
NelRhbourlv Communitv Fund
Coventry BuildinR Societv
Midland Co-op
ja￿Uar Landrover
Rent- free ￿1ft in kind
Penn Animal Welfare Society
LeRacv Shufflebotham
Grantham Yorke Trust
Total
112.693
51,534
18,894
16.415
4.250
4.000
555
1.275
1.091
4.243
7,126
99
116,936
58,660
18,993
16,415
4,250
4,000
1,305
1,275
1,091
1,000
100,140
7,000
10,575
17,560
1,500
750
1,000
1,320
1.000
13,458
3,000
2,836
1,000
159,389
210,707
13,218
223,925
18

Wolverhampton Foodbank Ltd operatlng as The Well
Notes to the accounts
for the year ended 31 March 2024
3. Expenses
2024
2023
Charltable activities
Direct Costs
Salary costs
Food etc. for distribution
Premises costs
Transport costs
Small equipment
99,830
5,514
64,943
8,324
606
105,315
23,690
55,822
6,911
902
Support costs
Printin8 & stationery
Gifts and tithes
Computer costs
Communication costs
Insurance
Subscriptions and licences
Depreciation
General expenses
HR/H&S Support
Training
Statutory Accounts preparation and Independent Examination
Miscellaneous Governance Costs
2,690
19,158
5,389
3,706
2,465
1,419
4,333
1,029
2,190
2,059
2,000
13
4,727
13,342
4,037
5,700
951
1,061
5,656
1,199
214
1,500
13
Total
225,668
231,040
19

Wolverhampton Foodbank Ltd operatlng as The Well
Notes to the accounts
for the year ended 31 March 2024
4. Related parties and Trustee Expenses
No trustee re￿iVed payments or reimbursements in the year.
5. Net Incomlng resources for the year
2024
2023
This is stated after charging:
Independent examiner's fees
Underprovision 2023
Depreciation
1,750
250
4,333
1,500
5,656
6. Salarles and employment
Gross wages, salaries and benefits in kind
Employer's Pension costs
Employers National Insurance
Agency staff
96,012
I,S75
2,243
94,882
1,541
2,350
6,542
105,315
Total staff costs
99,830
Number
Number
Average number of employees in the year
Operational staff
The number of employees earning over £60,000 per annum was nil { 2023- nil )
20

Wolverhampton Foodbank Ltd operatln8 as The Well
Notes to the accounts
for the year ended 31 March 2024
7. Tanglble fixed assets
Motor
Vehicle
Warehouse
Equlpment
Total
2024
Cost brought forward
Additions
Disposals
Balance carrled forward
16,421
8,489
24,910
16,421
8,489
24,910
Accumulated depreclatlon
Basis 25%SL
Accumulated Depreclatlon brought forward
Depreciation charge for year
On Disposals
Balance carrled forward
9.502
2,307
5,801
2,026
15,303
4,333
11,809
7.827
19,636
Net book value
Brought forward
Carrled forward
6,919
4,612
2,688
662
9,607
5,274
8. Oebtors and prepayments
Analysls of debtors
Amounts fallln8 due wlthln
one year
2024
2023
Other debtors
Gift Aid Tax due
1.500
2,985
4,485
1,500
426
T¢)tsl
1,926
9. Credltors and accruals
Analysls of credltors
Amounts falllng due withln
one year
2024
2023
Accruals
Sundry Credltors
1,750
19.139
20,889
1,500
8,243
9,743
Total
21

Wolverhampton Foodbank Ltd operatln8 as The Well
Notes to the accounts
for the year ended 31 March 2024
Openlng
Balance
110412023
Closlng
balance
3110312024
Income
Expendlture
10. Fund Movements
Restrlcted Funds
Capltal
Specific donatlon
1.366
1,366
1,366
1,366
Revenue
Speclfic donation
Pallet Speciflc
Food And Tolletry Purchases
Electrlcal Goods
481
481
210
405
375
240
654
1,742
2,154
242
25
25
Jaguar Landrover-motorvate
Salary Glft
The Haven
548
452
7,126
2,195
806
6,320
297
1,898
Nei8hbourly Community Fund
550
750
1,300
5,986
1,920
13,218
9,152
Totsl Restrlcted
3,286
13,218
7,352
9,152
Unrestricted
General Funds
1,727 210,721
218,316
(5,868)
Total Funds
5,013 223,939
225,668
3,284
22

Wolverhampton Foodbank Ltd operating as The Well
Notes to the accounts
for the year ended 31 March 2024
11. Prevlous year detalled comparatlves for 2023
2023
Unrestrlcted
funds
Restrlcted Total fvnds
funds
Income
Donatlons and Glfts
Investment Income
Other Income
139,090
30
20,299
159,389
30
3,760
163,179
Totsl Income
142,880
20,299
Expendlture
Charltable actlvltles
177,304
53,736
231,040
Total expendlture
177,304
53,736
231,040
Net Income
(34,424)
(33,4371
(67,861)
Reconclllatlon of Funds
Total funds brou8ht forward
36,251
36,623
72,874
Transfers
(100)
100
Total funds carried forward
1.727
3,286
5,013
23