2022-09-30-accounts

DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

Registered number: 8175815 Charity number: 1149883

THE CAMBRIDGE CITY FOODBANK

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance Sheet	10 - 11
Notes to the Financial Statements	12 - 23

DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Trustees	Mr S Thornton, Chair
	Mr R K Johnson
	Dr L Loftus
	Dr S O'Brien
	Ms J C Preston
	Ms D M Hargreaves
	Mr M R Evans
	Dr S P Johnson
Registered number 8175815 Charity number 1149883 Registered office 2 Orwell House Cowley Road Cambridge CB4 0PP Company secretary Dr D A Livesey Independent Examiner Mr M Hewett ACA DChA Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022

The Trustees (who are also directors for the purposes of the Companies Act) present their annual report together with the financial statements of the Charity for the 1 October 2021 to 30 September 2022. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

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

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

The principal activities of the charity are the relief of poverty by providing food to the needy and destitute in particular within a 25 miles radius of Cambridge.

b. Strategies for achieving objectives

Cambridge City Foodbank is a straightforward system of collection, collation and distribution of basic food items to support people in times of crisis. The main purpose of the Charity is to give 3 day' worth of food, packed according to family unit size, to identified people who find themselves in crisis need and unable to buy food.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

During the reporting year under review we operated with the cooperation of 125 active voucher distributing agencies with a roughly equal number of statutory agencies and voluntary bodies (including charities and churches). These agencies are able to identify their clients who are in crisis, needing food, and refer them to us. This ensures that our services are available to those most in need. In the period under review we have supplied 5,087 (3,928) boxes of food providing meals to around 12,727 (9,874) people, with around 39% being children (the numbers in brackets refer to the previous financial year). Overall we see a rise in demand for services continuing into the near term future.

In the same period we have collected 141.5 (123.6) metric tonnes of food through supermarket collections and donations from churches, businesses, individuals and community groups in the City, including food purchased by cash donations. Food was also purchased directly using charity funds to supplement the donations. This has enabled us to distribute 146.7 (131.7) tonnes of food to people in crisis, an increase of 11%. In addition to the distribution centres we have been providing food to our Fairbite foodclub shop.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities (cont.)

The Fairbite foodclub is an initiative started in 2018 to provide longer term support for people struggling to afford food. It operates as a small shop. In March 2022, we opened a second shop, in partnership with a local Church. In total, the shops have around 100 members, referred by support agencies and are open 4 times per week. Members are able to shop once or twice a week, depending on the size of their family. They can choose items off the shelves, together with a selection of fresh fruit and vegetables. Members pay £2 per visit, for which they receive around £12 worth of food. The membership fee gives people the dignity of being shoppers. Food comes either from our warehouse, a local Muslim foundation, Fareshare, or a local fruit and vegetable wholesaler.

We have been operating a scheme to give electricity and gas top-ups to people, referred by agencies. During the year the cost of this came to £76,750 (2021 - £50,000).

All our distribution centres are fully open, with visitors offered a hot drink and a chance to chat to volunteers. Several centres have representatives from external support organisations available to talk to visitors. Starting in Q2 2023, we plan to launch a project providing support from Citizens Advice.

Electronic vouchers have continued to be very popular, now accounting for around 88% of the redeemed vouchers.

The Foodbank has 1 full time employee and 3 part-time employees. Our Operations Manager returned from maternity leave in June 2022. She now works part-time. Another part-time employee left the organisation during the year and was not replaced. In addition, we have around 180 volunteers. Volunteers help at the distribution centres, in the Fairbite foodclub, in the warehouse, with collections from supermarkets and with management and administration.

The accounts for the year ended 30 September 2022 have been prepared on the accruals basis and show the following results:

• an increase in the value of the food distributed to £257,093 (2021: £223,746)

• an operating surplus of £69,866 (2021: £213,840) which results in:

• designated reserves of £150,000 (2021: £150,000), with no restricted reserves (2021: £NIL);

• general reserves of £774,009 (2020: £547,169) and food stocks of £21,819 (2021: £31,250);

• an increase in the value of the food donated to £224,117 (2021: £216,261); and

• charitable donations of £447,032 (2021: £521,894).

FINANCIAL REVIEW

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

b. Reserves policy

The Policy of Cambridge City Foodbank is to hold up to 12 months of total expenditure as Reserves in order to allow the charity to adapt to any changes in pattern of the income received, and expenditure incurred by the Foodbank. It has therefore, been agreed that the normal level of the Reserve Fund will be set at £350,000, which is between 9 and 12 months’ expenditure. In the exceptional circumstances brought on by the pandemic and followed by the cost of living crisis, the amount of donations and income received has risen to levels not previously seen, leading to the charity’s Reserves becoming higher than defined in this Policy Statement. In line with the Foodbank’s procedure for reviewing Reserves, the Management Team has developed and presented a plan which has been approved by the Trustees, for using these reserves. This includes the expansion of the staff team to meet future demand for the charity’s services, delivery of our Trussell Trust Pathfinder strategy, and the implementation of the Fair Bite review and expansion plan.

c. Material investments policy

The Foodbank’s investment policy is that a proportion of excess reserves should be invested in a suitable ethical investment portfolio which comprises a combination of ultra-low risk and low risk funds, with a view to providing income and/or capital growth to fund the core activities of the charity and to continuing such investment until such time as the funds are needed to finance projects decided upon by the Trustees.

d. Financial risk management objectives and policies

The Trustee Board has approved the risk management strategy and reviews the risk assessment regularly. Regular reviews are performed by the Trustee Board to assess the likelihood and impact, relevance of risks, current strategies applied and the strength of the strategies. The residual risk is identified and action plans are created to further mitigate risk. There are no areas which caused immediate concern and there are no factors for which a high or medium risk is combined with a high or medium impact.The Trustee Board is responsible for monitoring external developments that may impact on the organisation. Comprehensive budgeting systems and financial reporting, which indicate financial performance against the budget, and forecasts are reviewed and agreed at the Trustee Board.

The most significant risks faced by the charity have been identified by the Trustee Board and relate to the following:

• Loss of Key Trustees leading to ineffective governance, which is well mitigated by succession planning for board membership, and by having an appropriately sized board with a documented audit of its skills.

• Loss of key members of the management team, which is mitigated by cover from other team members, including paid staff, and the trustee board.

• Public perception leading to a loss of influence and loss of morale with its consequential impact of the charity’s funding. This is well mitigated by the impact of its communication strategy and policy as well as good reporting including the complaints procedure.

• Crisis management strategy, which has been robustly tested by the covid pandemic, is effective.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The company is a registered charity (Charity no. 1149883) and is limited by guarantee.

The company is constituted by its Memorandum & Articles of Association dated 21 June 2012, and was registered at Companies House, company no. 08175815, on 10 August 2012.

b. Methods of appointment or election of Trustees

Trustees are appointed by a resolution of the trustees at a special meeting. They are chosen with regard to the skills, knowledge and experience needed for the effective administration of the charity and their having personal values which accord with but not necessarily subscribe to those of the charity's founders and of the Trussell Trust.

The trustees who served the charity during the year were as follows:

Mr S Thornton CBE Mr R K Johnson Dr S O'Brien Ms J C Preston Ms D M Hargreaves Mr M R Evans Dr S P Johnson

c. Organisational structure and decision-making policies

The Cambridge City Food Bank is a member of the Trussell Trust Foodbank Network, and operates as an independent social franchise of their foodbank model. Our relationship with the Trussell Trust is based on mutual undertakings agreed when we took on the franchise. This was for an initial period of 3 years and has been extendable annually. The mutual undertakings in place are contained in the Trussell Trust’s Foodbank Operating Manual.

The organisation has role descriptions for the trustees, the chairman, the treasurer, and the company secretary and these are reviewed from time to time.

Good governance is achieved through regular quarterly meetings of the trustees which receive comprehensive, concise and timely reports on the charity’s strategic direction together with occasional meetings focussed only on strategy as well as urgent decisions taken by electronic circulation and/or additional meetings when required.

The Chief Executive is responsible to the Board:

· management, development and strategic planning

· to serve and advise the trustee board of Directors in carrying out their responsibilities, in maintaining an overview of the organisation and in making appropriate strategic, policy and financial decisions.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

d. Policies adopted for the induction and training of Trustees

New trustees are recruited to fill gaps in the skill set of the continuing trustees. Trustees are either elected at the annual general meeting or co-opted until the annual general meeting. The practice is for trustees to retire from office at the third annual general meeting following their election but may be re-elected normally for one a further term. In addition to the above trustees, the following attend the board meetings as non-voting members: Margaret Saner Chief Executive Merrilyn Fry Deputy Co-ordinator David Livesey Company Secretary

New trustees are provided with an 'Induction Pack' covering such topics as legal status and governance, structure, organisation and staffing, governance, policy, and strategy. They are invited to attend the induction event for new volunteers and to visit the office and warehouse and to observe at the distribution centres and at FairBite. In addition to familiarise themselves with the charity and the context within which it operates, new trustees are invited and encouraged to attend meetings organised by the Trussell Trust and to attend specialised training where it is considered to be appropriate.

PLANS FOR THE FUTURE

For the last 11 years Cambridge City Foodbank has provided 3 day emergency food parcels to people in need. The number of people using the service has increased year on year, though we are slightly down on numbers from last year. The majority of visitors only come once or twice but there are some habitual users. Through our work with professional agencies and signposting by volunteers, we aim to reduce reliance on the Foodbank. The Covid-19 pandemic has forced more people to use the Foodbank, or to use it more often. Many people report that they never expected to need to use a Foodbank. The city is still served by several food hubs. We are looking at ways to offer a broader range of support, besides the 3 day emergency food parcels.

Following on from the surveys into use of the Foodbank, we have taken on a part-time signposting co-ordinator. She will provide support and training for volunteers. We are part of the Trussell Trust STEP signposting program. This provides a search facility for volunteers to look up appropriate local agencies. We are part of the Trussell Trust Pathfinder network, exploring ways to move people away from the need to use Foodbanks. We are increasing our co-operation with other charities by offering them space in the Fairbite locations. This will serve our members.

In 2018, we opened the Fairbite foodclub in Arbury. Members pay a small subscription, per visit, and can choose items from the shelves. We are working to expand the Fairbite network. We expect to open a new location in partnership with a local Church, as a replacement for their food hub. We have plans to open another shop in the south of the City, subject to finding suitable premises. We are discussing with another food hub about converting their hub into a Fairbite shop.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Statement of Trustees' responsibilities

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

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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) 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 Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Mr S Thornton Trustee Date: 7 March 2023

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THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CAMBRIDGE CITY FOODBANK ('THE COMPANY')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2022.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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

INDEPENDENT EXAMINER'S STATEMENT

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

M Hewett FCA DChA

15 March 2023 Dated:

For and on behalf of Peters Elworthy & Moore

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Note INCOME FROM: Donations and legacies 2 Interest received TOTAL INCOME EXPENDITURE ON: Raising funds Charitable activities 3 TOTAL EXPENDITURE NET (EXPENDITURE)/INCOME BEFORE NET (LOSSES)/GAINS ON INVESTMENTS Net (losses)/gains on investments 7 NET (EXPENDITURE)/INCOME Transfers between funds 11 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD	Restricted funds 2022 £ 5,392 - 5,392 - 76,750 76,750 (71,358) - (71,358) 71,358 - - - -	Unrestricted funds 2022 £ 441,045 595 441,640 562 288,718 289,280 152,360 (18,554) 133,806 (71,358) 62,448 924,009 62,448 986,457	Total funds 2022 £ 446,437 595 447,032 562 365,468 366,030 81,002 (18,554) 62,448 - 62,448 924,009 62,448 986,457	Total funds 2021 £ 521,176 718
				521,894
				562 310,259
				310,821
				211,073 2,767
				213,840 -
				213,840
				710,169 213,840
				924,009

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 23 form part of these financial statements.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee) REGISTERED NUMBER: 8175815

BALANCE SHEET AS AT 30 SEPTEMBER 2022

Note FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 NET CURRENT ASSETS TOTAL NET ASSETS CHARITY FUNDS Restricted funds 11 Unrestricted funds 11 TOTAL FUNDS	39,958 753,634 793,592 (10,705)	2022 £ 19,357 184,213 203,570 782,887 986,457 - 986,457 986,457	29,379 698,068 727,447 (11,103)	2021 £ 4,898 202,767
				207,665 716,344
				924,009
				- 924,009
				924,009

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

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

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

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee) REGISTERED NUMBER: 8175815

BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2022

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

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

Mr S Thornton

Trustee Date: 7 March 2023

The notes on pages 12 to 23 form part of these financial statements.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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

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

1.2 INCOME

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

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

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

1.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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

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

All expenditure is inclusive of irrecoverable VAT.

1.4 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.5 INTANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

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

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

Depreciation is provided on the following basis:

Motor vehicles	-	25%	straight line
Fixtures and fittings	-	25%	straight line
Office equipment	-	25%	straight line

1.6 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

1.7 DEBTORS

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

1.8 CASH AT BANK AND IN HAND

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

1.9 LIABILITIES AND PROVISIONS

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

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.10 FINANCIAL INSTRUMENTS

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

1.11 PENSIONS

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

1.12 FUND ACCOUNTING

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

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

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

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

2. INCOME FROM DONATIONS

Donations Total 2021	Restricted funds 2022 Unrestricted funds 2022 £ £ 5,392 441,045 26,988 494,188	Total funds 2022 £ 446,437 521,176	Total funds 2021 £ 521,176

The value of donated food in 2022 was £128,067 (Calculated as 128,067 kilos valued at £1.75 per kilo adjusted for purchased food) (2021: 123,578 kilos valued at £1.75 - £216,261).

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

3. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Special items Food costs Staff costs Premises expenses Volunteer expenses Depreciation Fairbite premises expenses Fairbite consumable expenses Administration expenses Grants to charities (see below) Independent Examiner's and Accountancy fees (governance) Total 2021	Activities undertaken directly 2022 £ 79,008 32,068 75,024 - 12,383 - - - 76,378 2,000 - 276,861 223,623	Support costs 2022 £ - - - 77,906 - 7,441 - - - - 3,260 88,607 86,636	Total funds 2022 £ 79,008 32,068 75,024 77,906 12,383 7,441 - - 76,378 2,000 3,260 365,468 310,259	Total funds 2021 £ 53,143 11,286 63,786 65,557 12,925 2,433 14,940 472 81,483 1,000 3,234
				310,259

In 2021 £50,000 of the charitable expenditure was restricted and £260,821 was attributable to unrestricted funds.

The value of food distributed to clients in 2022 was £257,093 (146,910 kilos valued at £1.75) (2021: 127,885 kilos at £1.75 - £223,746).

During the year ended 30 September 2022 1 grant of £2,000 was paid to a local charity (2021: 1 grant of £1,000).

In 2022 special items above includes £76,750 fuel top-ups (see note 12 restricted funds) (2021: £50,000).

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

4. INDEPENDENT EXAMINERS REMUNERATION

	2022	2021
	£	£
Fees (inclusive of VAT) payable to the Charity's independent examiner for
the independent examination of the Charity's annual accounts	1,000	900
Fees (inclusive of VAT) payable to the Charity's independent examiner in
respect of:
Accountancy fees	1,640	1,554

5. STAFF COSTS

Wages and salaries Social security costs (net of employer allowance) Contribution to defined contribution pension schemes	2022 £ 69,158 1,080 4,786 75,024	2021 £ 59,394 748 3,644
		63,786

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

	2022	2021
	No.	No.
Average number of employees	5	3

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprises the Trustees. The trustees all give their time and expertise without any kind of remuneration or other benefit in kind (2021: £nil).

During the year, travel and subsistence expenses of £94 were reimbursed to Trustees (2021: £nil).

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

6. TANGIBLE FIXED ASSETS

Cost or valuation At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021	Motor vehicles £ - 21,900 21,900 - 5,475 5,475 16,425 -	Fixtures and fittings £ 11,534 - 11,534 8,346 1,231 9,577 1,957 3,188	Office equipment £ 5,398 - 5,398 3,688 735 4,423 975 1,710	Total £ 16,932 21,900
				38,832
				12,034 7,441
				19,475
				19,357
				4,898

The charity's van was stolen in September 2021 and is not expected to be recovered. As the carrying value of the van was £nil in the accounts there was no resulting profit or loss on disposal. A new van was purchased during the year.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

7. FIXED ASSET INVESTMENTS

Cost or valuation Additions Revaluations At 30 September 2022	Listed investments £ 202,767 (18,554) 184,213

All the fixed asset investments are held in the UK.

All investments are carried at their fair value. Holdings in common investment funds, unit trusts and open ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

The Charity is operating an investment policy that provides for a degree of diversification of holdings within different unit trust investments. The Charity has invested in a number of unit trusts in order to protect the Charity’s exposure to volatility in the market and seek low risk investments wherever possible.

The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term growth and annual income.

The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions.

8. STOCKS

The value of stock donated as at 30 September 2022 was £21,819 (2021: £31,250) and in line with the accounting policy, this is valued in the accounts as £nil.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

9. DEBTORS

DUE AFTER MORE THAN ONE YEAR Rent deposit DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income	2022 £ 20,345 20,345 11,666 7,947 39,958	2021 £ 7,438
		7,438 8,772 13,169
		29,379

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Other taxation and social security Accruals and deferred income	2022 £ 7,646 859 2,200 10,705	2021 £ 7,078 - 4,025
		11,103

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

11. STATEMENT OF FUNDS

STATEMENTS OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS DESIGNATED FUNDS Future Development Fund GENERAL FUNDS General Fund TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Restricted Fund TOTAL OF FUNDS		Balance at 1 October 2021 £ 150,000 774,009 924,009 - 924,009	Balance at 1 October 2021 £ 150,000 774,009 924,009 - 924,009	Income £ -	Expenditure £ - (289,280) (289,280) (76,750) (366,030)	Expenditure £ - (289,280) (289,280) (76,750) (366,030)		Transfers in/out £ - (71,358) (71,358) 71,358 -	Gains/ (Losses) £ - (18,554) (18,554) - (18,554)	Balance at 30 September 2022 £ 150,000
		774,009 924,009 - 924,009		441,640 441,640 5,392 447,032		(289,280) (289,280) (76,750) (366,030)				836,457
										986,457
										-
										986,457

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

11. Statement of funds (continued)

STATEMENT OF FUNDS PRIOR YEAR

UNRESTRICTED FUNDS DESIGNATED FUNDS Future Development Fund GENERAL FUNDS General Fund TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Restricted Fund TOTAL OF FUNDS	UNRESTRICTED FUNDS DESIGNATED FUNDS Future Development Fund GENERAL FUNDS General Fund TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Restricted Fund TOTAL OF FUNDS	Balance at 1 October 2020 £ 150,000 547,169 697,169 13,000 710,169	Balance at 1 October 2020 £ 150,000 547,169 697,169 13,000 710,169	Income £ - 494,906 494,906 26,988 521,894	Income £ - 494,906 494,906 26,988 521,894	Expenditure £ - (260,821) (260,821) (50,000) (310,821)	Transfers in/out £ - (10,012) (10,012) 10,012 -	Gains/ (Losses) £ - 2,767 2,767 - 2,767	Balance at 30 September 2021 £ 150,000
									774,009
									924,009
		13,000 710,169		26,988 521,894					-
									924,009

Other restricted funds

Within other restricted funds there are sometimes several smaller funds (food, clothes, energy, and research) and when expenditure exceeds the brought forward funds and income then the deficit is covered by a transfer from general funds. In 2021/2022 the funds all related to fuel. This year a total of £71,588 (2020: £10,012) was transferred.

Designated funds

A transfer of £150,000 was made to the designated fund for future development in 2017. This was unspent at 30 September 2022.

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted funds 2022 £ Tangible fixed assets 19,357 Fixed asset investments 184,213 Debtors due after more than one year 13,438 Current assets 780,154 Creditors due within one year (10,705) Total 986,457 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2021 £ Tangible fixed assets 4,898 Fixed asset investments 202,767 Debtors due after more than one year 7,438 Current assets 720,009 Creditors due within one year (11,103) Total 924,009

Total funds 2022 £ 19,357 184,213 13,438 780,154 (10,705) 986,457 Total funds 2021 £ 4,898 202,767 7,438 720,009 (11,103) 924,009

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DocuSign Envelope ID: BACA8692-9BAA-4753-B609-F50A64AAB453

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

13. OPERATING LEASE COMMITMENTS

At 30 September 2022 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Amounts Payable: Not later than 1 year Later than 1 year and not later than 5 years	2022 £ 52,861 43,086 95,947	2021 £ 49,412 40,986
		90,398

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

	2022	2021
	£	£
Operating lease rentals	77,727	71,585

14. RELATED PARTY TRANSACTIONS

There were no related party transactions during the current or prior period.

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