OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← The Cambridge City Foodbank

2023-09-30-accounts

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

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 2023

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

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 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11 - 12
Statement of Cash Flows 13
Notes to the Financial Statements 14 - 26

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

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 2023

Trustees Mr S Thornton, Chair
Mr R K Johnson
Dr S O'Brien (resigned 8 March 2023)
Ms J C Preston (resigned 7 March 2023)
Ms D M Hargreaves
Mr M R Evans
Dr S P Johnson (resigned 5 March 2024)
Dr L Loftus (appointed 5 December 2022)
P R G Childs (appointed 28 September 2023)
A S Muthunathan (appointed 28 September 2023)
N C Pearson (appointed 28 September 2023)
J Funk (appointed 6 November 2023)
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

Page 1

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 2022 to 30 September 2023. 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

In fulfilling the charitable aim, Cambridge City Foodbank sees it’s vision as ending the need for foodbanks in the UK.

While we work toward this ultimate goal, our ongoing local Mission remains to meet the need for emergency and affordable food, and tackle the causes of poverty, by harnessing the power of the community.

The principle way we do this is through a straightforward system of collection, collation and distribution of basic food items; providing 3 day' worth of emergency food, packed according to family unit size, to identified people who find themselves in crisis need and unable to buy food. In addition we are developing a network of affordable food clubs for people in a persistent state of food insecurity.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

During the reporting year under review we operated with the cooperation of 115 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 15,045 (12,731) 3-day emergency food parcels, providing meals to people in Cambridge and surrounding area, with around 37% (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.

Page 2

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities (cont.)

In the same period we have collected 130,629 (128,062) kilos of food through supermarket collections and donations from churches, businesses, individuals and community groups in the City. Food was also purchased directly using charity funds to supplement the food donations. In total we distributed 161,539 (146,910) kilos of food as 3-day emergency food parcels, through our Foodbank Welcome Centres.

In addition to the Foodbank Welcome Centres we have been providing food to our two Fairbite affordable food clubs.

Our Fairbite affordable food clubs started in 2018 to provide longer term support for people struggling to afford food on an ongoing basis. The first Fairbite Food Club was in Arbury, and then in March 2022 we opened a Fairbite in Chesterton, in partnership with St Georges Church.

In total, the Fairbite Clubs have around 160 members, referred by support agencies and are open 5 sessions 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 a small membership fee, for which they receive around £20 worth of food. The membership fee gives people the dignity of being shoppers. Food comes either from surplus items in our warehouse, community donations, Fareshare, a local fruit and vegetable wholesaler and surplus supermarket food collected by volunteers. Following an evaluation of the Fairbite operation, we have also begun to purchase certain items to provide a consistent supply of staple groceries for members.

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 £106,090 (£76,750).

Our Foodbank Welcome Centres also offer visitors a hot drink (some venues also provide a community meal) and a chance to chat to volunteers. Several centres have representatives from external support organisations available to talk to visitors.

In December 2022, Steve Clay joined the Charity as the new CEO, taking over from Margaret Saner who continues in her previous role of Volunteer Coordinator. The trustees wish to record their thanks to Margaret for leading the organisation as CEO since 2020.

During the year the employed staff team expanded in response to the continued increase in the Charity’s services, and with additional grant support from Trussell Trust. This has enabled a consistent level of coordination, food supply and logistical support to our large teams of volunteers who are at the frontline of service delivery.

In addition to operational staff supporting Foodbank Welcome Centres and Warehouse distribution, the Charity has employed a Local Organiser and Pathfinder Development Manager (both supported by Trussell Trust Grant) to develop the active participation of people with lived experience, and the development of the Fairbite Club network.

The Charity has also benefited from the research and development skills of Dr Liam Loftus who has stepped aside from trustee responsibilities to take on Health Inequality contracted work over a 12 month period, in support of the above developments, and after the Board conducted a process which covered off the potential conflict of interest.

In May 2023 the Charity began a partnership with Cambridge Citizen’s Advice, providing advisors in all 10 of our Foodbank Welcome Centre and Fairbite Club locations to support the financial inclusion of visitors and members. By 30th September 2023, the project had worked with 148 people and sourced £106,294 of additional

Page 3

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

income to which they were entitled to receive.

The accounts for the year ended 30 September 2023 have been prepared on the accruals basis and show the following results:

The accounts for the year ended 30 September 2023 have been prepared on the accruals basis and show the following results:

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.

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 minimum level of the Reserve Fund will be set at £500,000, which is between 6 and 9 months’ of the budgeted expenditure for 2023-24. At the year end the Charity had total funds of £1,161,232 of which £63,008 are restricted and £17,098 are represented by the tangible fixed assets used to deliver the Charity’s activities. The Trustees have designated £150,000 for the future strategic development of the Charity. This leaves free reserves of £931,126.

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 FairBite review and expansion plan. At the year end the Charity had total funds of £1,161,232 of which £63,008 are restricted and £17,098 are represented by the tangible fixed assets used to deliver the Charity’s activities. The Trustees have designated £150,000 for the future strategic development of the Charity. This leaves free reserves of £931,126.

Page 4

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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. 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:

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.

Page 5

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Structure, governance and management (CONTINUED)

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 a personal commitment to delivering the Charity’s objectives, and supporting the Charity’s ethos and values, and those 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 Dr L Loftus P R G Childs A S Muthunathan M C Pearson

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 and operational performance. Urgent decisions are arranged as required, taken by electronic circulation and/or additional meetings when required.

The Chief Executive is responsible to the Board to provide:

· management, development and strategic planning

· advice to Trustee Directors in carrying out their responsibilities, in maintaining an overview of the organisation and in making appropriate strategic, policy and financial decisions.

Page 6

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 (i.e. a 3-year term) but may be re-elected, normally for a further 3-year term. In addition to the above trustees, the Chief Executive and Company Secretary attend the board meetings as non-voting members.

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 an induction event for new volunteers and to visit the office and warehouse and to observe at a Foodbank Welcome Centre and at a FairBite Club. 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

Over the next twelve months the Charity aims to:

• Develop a clearer sense of purpose, through the articulation of vision, mission, ethos and values, to help steer the strategic direction and behaviour of the Charity and those who serve within it.

• Maintain robust operational systems which continue to facilitate the collection and provision of emergency food through eight Foodbank Welcome Centres; and in addition, to facilitate the ongoing provision of affordable food through the two existing Fairbite clubs.

• Continue to develop the Financial Inclusion project with Cambridge Citizens Advice, toward ending the need for future use of a foodbank by enhancing the income of those supported.

• Research best practice in the delivery of social supermarkets with a view to improved and further develop the Fairbite operating model.

• Identify partner organisations across Cambridge who wish to work with Cambridge City Foodbank to develop a social supermarket.

• Create a Fairbite Members Group to increase member participation in service development and identify local campaigning issues that would help alleviate poverty.

• Further develop the involvement of volunteers through external evaluation, building on what works well and identifying new ideas to build volunteer engagement; including widening participation from people with lived experience of poverty.

• Work together with Trussell Trust to implement plans for future sustainability, increasing income levels to meet the cost of the planned increase in service provision.

Page 7

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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:

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:

==> picture [114 x 37] intentionally omitted <==

Mr S Thornton, Chair

Trustee Date: 20 May 2024

Page 8

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE 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 2023.

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: Dated: 20 May 2024

M Hewett FCA DChA

For and on behalf of Peters Elworthy & Moore

Page 9

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 GAINS/(LOSSES) ON
INVESTMENTS
Net gains/(losses) 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
2023
£
141,646
-
141,646
-
142,048
142,048
(402)
-
(402)
63,410
63,008
-
63,008
63,008		 Unrestricted
funds
2023
£
629,839
1,633
631,472
468
467,243
467,711
163,761
11,416
175,177
(63,410)
111,767
986,457
111,767
1,098,224		 Total
funds
2023
£
771,485
1,633
773,118
468
609,291
609,759
163,359
11,416
174,775
-
174,775
986,457
174,775
1,161,232		 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

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

The notes on pages 14 to 26 form part of these financial statements.

Page 10

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

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

BALANCE SHEET AS AT 30 SEPTEMBER 2023

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		 41,665
927,060
968,725
(20,220)		 2023
£
17,098
195,629
212,727
948,505
1,161,232
63,008
1,098,224
1,161,232		 39,958
753,634
793,592
(10,705)		 2022
£
19,357
184,213
203,570
782,887
986,457
-
986,457
986,457

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.

Page 11

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

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

BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2023

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:

==> picture [114 x 37] intentionally omitted <==

Mr S Thornton, Chair

Trustee Date: 20 May 2024

The notes on pages 14 to 26 form part of these financial statements.

Page 12

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
13
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Purchase of tangible fixed assets
6
NET CASH USED IN INVESTING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
14
The notes on pages 14 to 26 form part of these financial statements		 2023
£
178,146
1,633
(6,353)
(4,720)
173,426
753,634
927,060		 2022
£
76,871
595
(21,900)
(21,305)
55,566
698,068
753,634

Page 13

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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.

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.

Page 14

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. ACCOUNTING POLICIES (CONTINUED)

1.5 TANGIBLE 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, .

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.

Page 15

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 2022		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
141,646
629,839
5,392
441,045		 Total
funds
2023
£
771,485
446,437		 Total
funds
2022
£
446,437

The value of donated food in 2023 was £312,748 (Calculated as 131,961 kilos valued at £2.37 per kilo adjusted for purchased food) (2022: 128,067 kilos valued at £1.75 - £224,117).

Page 16

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Special items
Food costs
Staff costs
Premises expenses
Volunteer expenses
Depreciation
Direct costs - Activity 9
Administration expenses
Grants to charities (see below)
Independent examiner's and accountancy
fees (governance)
TOTAL 2022		 Activities
undertaken
directly
2023
£
109,525
82,507
178,009
-
17,876
-
-
115,292
50
-
503,259
276,861		 Support
costs
2023
£
-
149
-
65,388
-
8,612
25,600
-
-
6,283
106,032
88,607		 Total
funds
2023
£
109,525
82,656
178,009
65,388
17,876
8,612
25,600
115,292
50
6,283
609,291
365,468		 Total
funds
2022
£
79,008
32,068
75,024
77,906
12,383
7,441
-
76,378
2,000
3,260
365,468

In 2022 £76,750 of the charitable expenditure was restricted and £289,280 was attributable to unrestricted funds.

The value of food distributed to clients in 2023 was £382,847 (161,539 kilos valued at £2.37) (2022: 146,910 kilos at £1.75 - £257,093).

During the year ended 30 September 2023 1 grant of £50 was paid to a local charity (2022: 1 grant of £2,000).

In 2023 special items above includes £106,090 fuel top-ups (see note 11 restricted funds) (2022: £76,750).

Page 17

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INDEPENDENT EXAMINER'S REMUNERATION

2023 2022
£ £
Fees (inclusive of VAT) payable to the Charity's independent examiner for
the independent examination of the Charity's annual accounts 1,400 1,000
Fees (inclusive of VAT) payable to the Charity's independent examiner in
respect of:
Accountancy fees 2,200 1,640

5. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
161,627
6,407
9,975
178,009		 2022
£
69,158
1,080
4,786
75,024

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

2023 2022
No. No.
Average number of employees 7 5

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 (2022: £nil).

During the year, travel and subsistence expenses of £2,701 were reimbursed to 3 Trustees (2022: £94 to 1 Trustee).

Page 18

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. TANGIBLE FIXED ASSETS

COST
At 1 October 2022
Additions
At 30 September 2023
DEPRECIATION
At 1 October 2022
Charge for the year
At 30 September 2023
NET BOOK VALUE
At 30 September 2023
At 30 September 2022		 Motor
vehicles
£
21,900
-
21,900
5,475
5,475
10,950
10,950
16,425		 Fixtures and
fittings
£
11,534
6,353
17,887
9,577
2,568
12,145
5,742
1,957		 Office
equipment
£
5,398
-
5,398
4,423
569
4,992
406
975		 Total
£
38,832
6,353
45,185
19,475
8,612
28,087
17,098
19,357

Page 19

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. FIXED ASSET INVESTMENTS

VALUATION
Additions
Revaluations
AT 30 SEPTEMBER 2023
NET BOOK VALUE
AT 30 SEPTEMBER 2023		 Listed
investments
£
184,213
11,416
195,629
195,629

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 2023 was £29,194 (2022: £21,819) and in line with the accounting policy, this is valued in the accounts as £nil.

Page 20

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

9. DEBTORS

DUE AFTER MORE THAN ONE YEAR
Rent deposit
DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income		 2023
£
21,145
21,145
9,389
11,131
41,665		 2022
£
20,345
20,345
11,666
7,947
39,958

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank overdrafts
Trade creditors
Other taxation and social security
Accruals and deferred income		 2023
£
28
12,716
4,476
3,000
20,220		 2022
£
-
7,646
859
2,200
10,705

Page 21

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. STATEMENT OF FUNDS

STATEMENT 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
2022
£
150,000
836,457
986,457
-
986,457		 Income
£
Expenditure
£
Transfers
in/out
£
-
-
-
631,472
(467,711)
(63,410)
631,472
(467,711)
(63,410)
141,646
(142,048)
63,410
773,118
(609,759)
-		 Gains/
(Losses)
£
-
11,416
11,416
-
11,416		 Balance at
30
September
2023
£
150,000
948,224
1,098,224
63,008
1,161,232

Page 22

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

1
UNRESTRICTED
FUNDS
DESIGNATED FUNDS
Future Development
Fund
GENERAL FUNDS
General Fund
TOTAL
UNRESTRICTED
FUNDS
RESTRICTED FUNDS
Restricted Fund
TOTAL OF FUNDS		 Balance at
October 2021
£
150,000
774,009
924,009
-
924,009		 Income
£
-
441,640
441,640
5,392
447,032		 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
836,457
986,457
-
986,457

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 2022/2023 the funds related to fuel, a Local Organiser and FinInclusion. This year a total of £63,410 (2022: £71,588) 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 2023.

Page 23

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Restricted Unrestricted
Total
funds funds
funds
2023 2023
2023
£ £
£
Tangible fixed assets - 17,098
17,098
Fixed asset investments - 195,629
195,629
Debtors due after more than one year - 21,145
21,145
Current assets - 947,580
947,580
Creditors due within one year - (20,220)
(20,220)
Difference 63,008 (63,008)
-
TOTAL 63,008 1,098,224
1,161,232
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Endowment Unrestricted
Total
funds funds
funds
2022 2022
2022
£ £
£
Tangible fixed assets - 19,357
19,357
Fixed asset investments - 184,213
184,213
Debtors due after more than one year 6,907 13,438
20,345
Current assets (6,907) 780,154
773,247
Creditors due within one year - (10,705)
(10,705)
TOTAL - 986,457
986,457

Page 24

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 13. ACTIVITIES

Net income for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Depreciation charges
Gains/(losses) on investments
Dividends, interests and rents from investments
Increase in debtors
Increase/(decrease) in creditors
NET CASH PROVIDED BY OPERATING ACTIVITIES
14.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS
15.
ANALYSIS OF CHANGES IN NET DEBT
At 1
October
2022
£
Cash at bank and in hand
753,634
Bank overdrafts repayable on demand
-
753,634		 2023
£
174,775
8,612
(11,416)
(1,633)
(1,707)
9,515
178,146
2023
£
927,060
927,060
Cash flows
£
173,426
-
173,426		 2022
£
62,448
7,441
18,554
(595)
(10,579)
(398)
76,871
2022
£
753,634
753,634
At 30
September
2023
£
927,060
-
927,060

Page 25

DocuSign Envelope ID: 8A53E1FF-CF61-4A6A-AAFE-C8514D74BC46

THE CAMBRIDGE CITY FOODBANK (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

16. OPERATING LEASE COMMITMENTS

At 30 September 2023 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
57,344
57,220
114,564		 2022
£
52,861
43,086
95,947

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

2023 2022
£ £
Operating lease rentals 73,115 77,727

17. RELATED PARTY TRANSACTIONS

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

Page 26