Hackney foodb HACKNEY FOO BANK ANNUAL REPORT 2024 £ FOOD
2 Hackney Foodbank Annual Report 2024 Contents 4 Letter from the Chair Reference and Administrative Details 7 Structure, Governance and Management Objectives and Activities 10 Achievements and Performance 20 Partnership Working and Signposting 22 Financial Review 23 Reserves Policy 25 Declarations 26 Independent Auditors, Report 30 Statement of Financial Activities 31 Balance Sheet 32 Statement of Cash Flows 34 Notes to the Accounts Some of our many volunteers from 2023 Photos.. Neill Martinson
This Annual Report presents a review of the period 1 January 2023 to 31 March 2024, reporting on achievements, performance, and impact, including financial performance and the financial position to demonstrate the Trustees, stewardship and management of charitable funds. This report is also intended to serve as a Directors, Report for the purposes of the Companies Act 2006. As a preliminary matter, the Trustees and staff of Hackney Foodbank wish to express their deep appreciation for the contribution made by volunteers and donors, without whom no achievements would have been possible.
4 Hackney Foodbank Annual Report 2024 Letter from the Chair I hope you find the Annual Report informative. It covers a longer period than usual (15 months) because we changed our financial year from the calendar year to end in March this year. So, this report runs from January 2023 - March 2024. Hackney Foodbank, like other Trussell Trust food banks, wants to end the need for food banks. This aim seems further away than ever. Demand started higher in 2023 than in the previous year, seeing a 53% increase in the total recorded number of people Hackney Foodbank have fed compared to 2022. By July 2023, we had already supported as many people as we had In the entirety of 2022. The continuing cost of living crisis drove people we hadn't seen previously to seek food support. We couldn't meet this rlslng demand without the help of our dedicated and talented group of volunteers. Recruiting and retaining volunteers is always a challenge, however, with our new staff team we are now much more confident in our abillty to meet the challenge. This period we hired new qualified staff, Implemented the Trussell Trust's Assemble platform la system which enabled volunteers to book in for shifts online) and implemented a monthly newsletter to let volunteers and staff know about the developments in the food bank. We also started a rolling programme of staff visiting the food distribution centres, to talk to the volunteers and visitors about how we can improve our 5ervice5. At this tirne of increasing demand, food donations from individuals, charitie5 and collections organised by local corporations continue to drop - down by 23% in 2023, which followed a dramatic drop of 46% in 2022. In this time, we were lucky enough to be supported by the Trussell Trust who arranged a generous but non- recurring donation that allowed us to continue operating by bringing total donations in line with demand. However, vrith this donation being a one-off, we have implemented some new programmes and adopted new service5 which make it easier for companies and individuals to donate. Corporatlons can donate cash and food by taking part in our Supermarket Sweep programme and individuals can donate food through the Give Today company, which is incorporated into the Hackney Foodbank website. Despite the challenges we faced in terms of growing demand, falling food donat70ns and recruiting and maintaining volunteers, throughout the period local people, local businesses, and local community organisation5 continued to support the food bank, which we desperately needed. The volunteers sorted and packed food at our warehouse, drove and delivered emergency food parcels, assisted and supported people at the food distribution centres and helped at the office to ensure everything ran as smoothly as it could - none of it could have happened without the volunteer teams. This period Hackney Foodbank supported the Trussell Trust's Essentials Guarantee, calling for the government to uprate benefits in line with the Joseph Rowntree Foundation's levels of what is needed for people to buy the essentials of food, toiletries and vital household goods. 150,000 people signed and submitted a petition to Parliament to enshrine in law that benefits always should always be enough to pay for these essentials.
In March Hackney Foodbank moved from its previous headquarters in Cherbury Street, Hoxton to the Wally Foster Community Centre in Homerton Road. The move provides more space and enables us to respond to high levels of need in the east of the borough. As we continue to support the residents, we thank our volunteers, our donors, our fundraisers, and our wonderful staff team - thank youl We have experienced another period of unprecedented demand. The Annual Report that follows will tell you how you helped our neighbours and community. Please continue to support us. Carollne O'Brlen Interim Chair of Trustees Reference and Administrative Details The name of the charity las it appears in the Register of Companle5115 'The Hackney Foodbank,. It is also known as 'HFB'. Its charity registration number (England and Wales) is 1149896 and the company registration number 15 7877042. The address of the charity's registered offi'ce15: The Hackney Foodbank, Wally Foster Communfty Centre. Homerton Road, London E9 5QB Those who were Trustees on the date that this report was approved, Dr who served a5 Trustee during the reporting period include: Mlchael Johnson, Trustee, appointed on 20th May 2020. Imogen Clark, Trustee, appointed on 6th November 2020, resigned 23rd June 2023. Caroline O'Brlen, Trustee and Interlm Chalr, 1st December 2023, appointed on 6th November 2020. Mark Bolsson, Trustee, appolnted on 7 April 2021. Nanette Danlels, Trustee, appointed on 17th May 2021, resigned 7th December 2023. TIM Bethal. Trustee, appointed on 19th January 2023, appointed Chair 28th March 2023, resigned a5 Chair 30th November 2023. Chrls Plle, Trustee, appointed on 19th January 2023. Kate Wllklnson, Trustee, appolnted on 19th January 2023. Flona Anderson. Trustee, appointed on 17th January 2024. Kamila Przybyszewska, Trustee, appolnted on 24th January 2024. Simon Hale, Trustee, appointed on 9th February 2024. Those to whom the Trustee5 delegated day-to-day management of the charity in a senior management role during the reporting period include: Pat Fitzslmons, Chlef Executlve Officer. appointed on 1 st February 2022.
6 Hackney Foodbank Annual Report 2024 The Trustees also took advlce from: Insurance Broker Auditor Marsh Commercial 1 st Floor No.1 Bridgwater Road Worcester WR4 9FQ Knight Goodhead Ltd 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA Prlnclpal Bankers The Co-operative Bank PLC PO Box 101 1 Balloon Street Manchester M60 4EP CAF Bank Limited 25 Kings Hlll Avenue Kings Hill West Malllng Kent ME19 4JQ Metro Bank PLC One Southampton Row London WCIB SHA Redwood Bank The Nexus Buildlng Broadway Letchworth Garden City SG6 3TA Investment Managers CCLA Investment Management senator House 85 Queen Victoria St London EC4V 4ET Sollcltors Denton's 1 Feet Place London EC4M 7WS Bates Wells 10 Queen Street Place London EC4R 1 BE HR Support Services Peninsula Business Services Limited The Peninsula Victoria Place Manchester SA3 3AJ cipo 151 The Broadway Wimbledon London SW19 1JQ HR Connect 1 Abbey Wood Road Kings Hill West Malling Kent ME19 4YT
Structure, Governance and Management The Hackney Foodbank is a charitable company limited by guarantee that was incorporated on 9th December 2011. The charity is governed by its Memorandum and Articles of Association las amended by special resolutions dated 9th November 2012, 11th June 2019 and 14th January 2021). Membership of the Hackney Foodbank is open only to communlty organisations and institutions (and not to individuals). In the current period, members comprTsed Grace Church Hackney Trust. St. Monica's R.C. Church, Hoxton. St John's, Hoxton; Our Lady and St Joseph's, Balls Pond Road" St. Mary's Church, Stoke Newington. and Clapton Commons Community Organisation. The Hackney Foodbank is governed by a Board of Trustees (who also serve as Directors of the company), which is responsible for the strategic direction, governance, and policy of the Hackney Foodbank. Day-to-day management of the charity's activities IS delegated to the CEO, who leads the staff team. The CEO'S salary is set using Cendex. Any person who Is willing to act as a Trustee may be appolnted by the charity by ordinary resolution or by the Board of Trustees, provided that, in the latter case, they must retire at the next Annual General Meeting and then stand for reappointment. A skills audit of all current Trustee51s completed annually. Having regard to the outcome of that audit, the Board of Trustees then identify specific skills and experience that need to be recruited to provide a balance in terms of equality and diversity as well as ensuring relevant skills required across the Board are met. Opportunities to becorne a Trustee of the Hackney Foodbank are advertised on volunteer websites and through other media, including via a recruitment agency if required. Member organisations may also nominate candidates. During 2023-24, six new Trustees were appointed. Trustees can apply by submittlng a CV and cover letter to InfoQhackneyfoodbank.org The Hackney Foodbank is part of the Tru5sell Trust Foodbank network, which was founded in 2004. Since then, the Trussell Trust has helped communities work together to launch food banks nationwide in a wide range of towns and citie5. While the Hackney Foodbank is not required by its governing documents to adopt the Trussell Trust's policies and procedures, we are encouraged to do 50 and, in practice, we have found it helpful, especially to ensure that the Hackney Foodbank's activities are conducted for the public benefit. The Trussell Trust also provides training and technical support and collates data from the Hackney Foodbank and other food banks in the network and uses thls information to produce reports to further the alm of ending the need for food bank5.
• • • • •• •• •• • •• •• •• •• •• OBJECTIVES AND ACTIVITIES •• •• •• •• • • •• ••
Hackney Foodbank's charitable objects are specifically restricted to the following: (1) To advance the Christian falth (as expressed in the Apostle's creed 1) Tn the London Borough of Hackney, or elsewhere, by the practical expression of Christian compassion and hospitality primarily by the provision of a food bank; The relief of financlal hardshlp amongst people In Hackney and surrounding areas or in other parts of the United Kingdom in such way5 as the Trustees think fit, in particular, but not exclusively by: (a) Provldlng emergency food and household Items to individuals and familles in need andlor for dlstrlbution by charities or other organisations working to prevent or relieve poverty. (b) Such other mean5, including (but not Ilmlted to) the provision of support or signposting to relevant Information and other advlsory services. (2) The Hackney Foodbank is an independent charity. It operates as part of the Tru5sell Trust Foodbank network and follows the policies and advice of the Trussell Trust, thereby benefitting from their experience in supporting more than 1,400 food banks acros5 the UK. Our shared aim is to end the need for food banks in furtherance of our charitable objects, to relieve food insecurity and financial hardship in our community. We do thls by providing emergency food parcels as part of a package of support aimed at helping people out of crisis. Hackney Foodbank's Services: The food bank is run by rules that: Provide only three days, worth of emergency provisions; Require that vouchers, whlch are distributed by our trusted referral partners, are exchanged in a timely manner after issue (in recognition of the fact that they are intended for emergencies and crises) These rules form part of the framework for ensuring the charfty's activities further our purposes for the public benefi't. The Trustees are confident that, by their stewardship and management of charitable funds, The Hackney Foodbank.contlnues to meet the requirements around public benefi't as defined by the Charity CommissTOn.
ACHIEVEMENTS PERFORMANCE
11 Hackney Foodbank's vision is for a hunger-free Hackney, where everyone can afford to eat. We are seeking an end to the need for food banks and this period have implemented projects to move towards this aim. We also had a bumper period in term5 of people coming to the food bank, so spent most of the period dealing with this explosion of demand. From January 2023 to March 2024, we processed 15,194 vouchers; providing emergency food for 33,377 mouths, At the end of this financial period, our 12-month rolling period average for the number of mouths fed per month was 2,248, up 43% on the year before. In 2023 we were supported by a one-off supermarket donation of 68,875 kg organised centrally by the Trussell Trust. Locally, food donatlons from individuals, charlties and those organlsed from corporatlons to Hackney Foodbank continued to drop during the 15-month of January 2023 March 2024. Durlng that period, these donations equated to 96,464 kg, compared to 101,111 kg donated in the 12 month5 January to December 2022 and 199,458 kg donated in 2021. With public food donations falling and demand rlslng, It has been a challenging perlod, but a series of initiatives are underway to increase food and monetary donations, Includlng enabllng people to donate food onllne vla our webslte and Glve Today. Many of the project5 that were implemented in 2022 became business as usual during 2023. 1. We ran six food distribut6on centres, located in various venues around the borough, on different days and at different tlmes. From January 2022 to March 2024, we dlstrlbuted 229.957 kg of food (compared to 173,700 kg of food in the year 2022). We also changed how the food Is distributed; with an increase in Food Parcels of 44% while other methods decreased by 62%. Thls rise in demand (after a slight post-covid dip in demand) reflects the impact of the cost-of-living crisTS and the failure of Universal Credit to keep pace with rising prices. The vast majorfty of people (81%) who vislted our food bank came between one and three times. Number of times Hackney Foodbank's servlces were accessed by unique visltor5 In 2023: Twice115%1 Three Times (9%) Once (50%) Four Times16%) More Than Five Times120%)
12 Hackney Foodbank Annual Report 2024 2. We teamed up with Give Today to offer our supporters a way of donating food online to us. Between October 2023, when the scheme was launched, and March 2024, we collected £5.488.08 worth of donations via this platform. We expanded the services we provided in the food distribution centres by hosting other services, such as social prescribing by Family Action and support from our new case worker. 3. We delivered food parcels to those who could not get to a food distribution centre. This period we delivered food parcels to 834 people at home. This has increased fourfold since the project's inception in March 2022. We began the period delivering food parcels to people's homes Monday to Friday with the use of a cargo bike company. We now deliver more effi'ciently twice a week, using our spare transit van and volunteer drivers, saving much-needed funds. foo'db Photo.. Chris Lacey 4. We provided lunch to children during school half-term and holidays. We supported 297 families, providing foodlvouchers for 513 children aged five to 17. This period, rather than providing digital Phone to Food credits as we did in 2022, we distributed Tesco Gift vouchers at every food distribution centre Monday to Saturday to people with children who had a food bank voucher the week before the school holidays. We were able to reach far more families in need this way. 5. We strengthened our relationships wlth our referral agencies. Following our successful inaugural referral agency event in 2022, we held another one In October 2023. We employed a Referral Agency Officer in 2023, who works closely with the referral agencies to train them in issuing vouchers for our food bank and listens to their concerns. We launched a Referral Agency Protocol, to encourage agencies to use our Data Collection System (the central Trussell Trust System used for issuing vouchers) correctly. The only Tssue with these events IS that so many referral agencies want to comel We'll probably have to have more than one a year in future.
13 6. We embedded equality diversity and inclusion into everything we do. Hackney TS a very diverse borough, and we worked to meet the needs of our community. We took several steps to ensure disadvantaged people received Support from us, regardless of their dietary needs. We provided parcels with fish rather than meat, Kosher parcels and Eid parcels. Our staff team became more diverse with more than 11 languages spoken. 7. We delivered debt advice. We were the recipients of three years, funding from the Tru5sell Trust for debt advice for our visitors. During the second year of the 5ervlce, we got better at referring people for advice and the numbers we helped nearly trebled to 133. E686,351 was presented in debt by these residents, and £178,408 was written off or repald la quarter of the debt). Their income was maximised by £40,112, through increased benefits (mainly from DWP or Council Tax reduction), vouchers, grants, savings from energy switchlng and more. Photo: Chri5 Lacey 8. We became a more data-driven charity. We improved our data collectlon to Inform decision.making in the charity. We used data on deprivation and use of our existing food distribution centres to determine the Hackney Giving Van's route (see page 171. The use of data will grow in the coming years, a5 we seek to provide a comprehensive service, while also looking at ways to end the need for food banks. 9. We supported the staff, volunteers and interns. Staff, volunteers and interns are of vital importance to the running of the food bank. We've welcomed some wonderful new staff members and thank past members for their work in building the food bank. A Customer Relationship Management system has been introduced to ensure a seamless service to visitors and to corporates supporting us and this has brought huge time efficiencies. A monthly newsletter has been launched for staff and volunteers, helping to ensure everyone is kept informed and improving the team rapport. We've also had a successful programme of recruiting and training volunteers.
14 Hackney Foodbank Annual Report 2024 In this 15-month perlod volunteer hours equated to more than 7,500 hours, which is equivalent to over three full time staff members, over 5,000 of these were in 2023. Volunteers support us in the warehouse packing emergency food parcels, in the food distribution centres, within the offices with admin and as drivers (collecting food from supermarkets and bringing it from the warehouse to our distribution centres). Hackney Foodbank hosted the third annual Volunteer Celebration at the Light Bar in Shoreditch in June 2023, to thank our volunteers for theTr hard work. The venue was donated by the company and made the celebration very special. We had speeches from the Chair of Hackney Foodbank, Tim Bethel, the CEO Pat Fitzsimons and from Miranda Bebe, Head of Volunteering at the Trussell Trust. We had music, refreshments and presents for the volunteers, which were donated by local businesses. Finally, we've started a partnership with Hackney Council's supported intern programme and. in 2023, h05ted our fi'rst intern in the warehouse. 10. We provided a cash first solutlon with the use of Phone to Food. Our dlgltal credit project entered a second phase in 2023-24. After piloting the programme in 2022, we continued to use and evaluate a digital credit option for our V7Sitors, rolling it out to our food distribution centres. From January 2023 till March 2024, we issued 1,536 Phone to Food vouchers: feeding 5,113 mouths. The total value of the credit given was £52,900. While the service was popular with many visltors, unfortunately this phase of the project was unable to demonstrate sufficient sawings to be viable in the long term. We continue to explore cash first services for our visitors. in addition to the Tesco gift cards we provide to support children's holiday lunches.
UR 2023-24 PERFORMANCE ANDACHIEVEMENTS 15 worth of donations collected online via 'Give Today, Nearly 230,000 kg of food was distributed from six centres around Hackney OVER £5,400 229,957 KG OF FOOD FOOD PARCELS DELIVERED TO 133 834 VISITORS HELPED ,'117P,J04 PEOPLE AT HOME Over £178,000 of debts were repald or wrltten off for 133 visitors wlth help from Hackney Foodbank 7,500 HRS OVER 1,50 PHONE TO FOOD VOUCHERS ISSUED of volunteer time, which 15 the equivalent to three full time staff members Feedlng over 5100 MOUTHS: 15,194 33,377 From January 2023 to March 2024, we processed 15,194 voucher5; providlng emergency food for 33,377 mouths. VOUCHERS MOUTHS É FOOD É FOOD É FOOD
16 Hackney Foodbank Annual Report 2024 New Projects Hackney Fooébank continues to develop new services to support those in need in the borough. One of these is the Hackney Giving Van, an electric van that goes out to the community to meet the growing need. Hackney Foodbank's Grant Programme Hackney Foodbank built up strong reserves during the Covid pandemic. Having received these funds to support people in food poverty, the Trustees decided to achieve this by supporting other food providers in the borough. We established a programme of small grants of up to £20,000. The London Community Foundation managed the grant programme on behalf of the food bank and Hackney Foodbank paid a £72,000 management fee for this service. The decision to appoint London Community Foundation was reached following careful consideration of the likely cost5 of employing staff to oversee the programme, the skills required, the desire to ensure impartiality over the grants awarded and the need to work with a reputable company. Through the Foundation we made grants totalling £408,000 to a diverse range of food providers, including those who referred visitors to the food bank durTng the 15-month perlod. We also made two £10,000 grants to other food providers earlier in the period. We'll be able to demonstrate the impact these grants have had in our next annual report. The Hackney Giving Van During 2023, the charity developed and piloted the Hackney Giving Van, providing a mini-food distribution centre to those areas where disadvantage is high, areas not within easy reach of our food distribution centres. The van is electric, and enabled Hackney Foodbank to serve the Charedi Jewish community in Stamford Hill for the first time. Many people come to the van just to get information, and having the van reach new areas allows us to speak to people who may need a range of services. HACKNEY GIVING VAN
17 Stamford Hill Trelawney Estate Nightingale Woodberry Down Millfi'eld's Estate Hackney Glvin8 Van's stop off spots. Case Worker We were successful in accessing grant funding for a case worker, who started in October 2023. She has made a huge Impact on the services Hackney Foodbank provldes, including: 1. Referring to debt advicelsupport through Rooted Finance (e.g. setting up manageable repayment plans). 2. Helping with income maximisation by helping visitors apply for additional benefits they are eligible for. 3. Applying for one-off financial grant5 (from Hackney Council, charitable organisations and energy providersl. 4. Issuing fuel vouchers and referring visitors for energy advice. This project has become so successful that we are seekin8 additional funds to bolster this aspect of our work.
18 Hackney Foodbank Annual Report 2024 Campaigning The Trussell Trust provided Hackney Foodbank with a grant to hire a local campaigner to improve the sltuation of those who experience food poverty. We hired our Community Change Manager in November 2022, and he started talking to those who visit to food bank to find out what the local i55ue5 were. Aware that asylum seekers were comTng to the food bank because the hotels housing them were providing a poor diet, he set about campaigning for change. In November 2023, the Community Change Manager worked with the Hackney Council Asylum Seeker Support team to establish a hotline, which gave asylum seekers at rfsk of eviction from hotels easy access to council housing officers. The project was so effective and popular that other organTsations are seeking to set up similar services in their respective boroughs. The Community Change Manager also supported the Trussell Trust Essentials Guarantee campaign, which seeks to enshrine in law that benefi'ts must be uprated to enable claimants to buy the essentials. The research underpinning this campaign was done by the Joseph Rowntree Foundation. Food Network Coordinator Hackney Foodbank received a grant from the Mayor's Office to support the Food Network in Hackney through the recruitment of a Coordinator. The aims of the one.year project Included: Increasing the uptake of Healthy Start vouchers In Hackney to the national average. Supporting the capacity of food providers to deliver wraparound 5UPPOrt and cash-first approaches. Strengthening partnershlp workfng to provide improved support to those in food poverty. Improving the ability of food providers to access external funding to make them more sustainable.
19 Seasonal Fundraising Activities Trick or Eat The Trick or Eat food donation initiative organised by Jenna and Basil Fansa of the Local Buyers Club was run again at Halloween. The idea of the Trick or Eat event is to encourage children and their families to donate non-peri5hable food at collection points while they, re out trick or treating. The children get a treat, but the tinlpacket is donated to The Hackney Foodbank. In 2023, they collected 1,313 kg of food, a drop of 49%. The drop in donations is probably due to the financial strain everyone is feeling. The event also generated £145 in Text to Give donations and online donations. Reverse Advent Calendar Another initlative we reran In 2023 was the 'Reverse Advent Calendar,. It was launched in November in 2023 to ensure beneficiaries received Ttems in time for Christmas. ADVENT CALENDAR Instead of recelving a festive treat, participants donate an item specified for that day to the food bank for individuals and families who are struggling over the festive season. We received 68 kg of food through this in 2022, 65% less than we received in 2021 {192 kg). However, thi5 was due in part to a shift to the onllne-giving platform Give Today, which enables people to buy food items online for the food bank. In November and December 2023 Hackney Foodbank received £2,550.85 worth of food donations via Give Today. During 2023, we received 8,047 kg of food classified as Christma5 donations In total from all source5. 13 14 15 16 17 18 19 20 22 23 24 Winter Toy Appeal The Local Buyers Club, owned by Jenna and Basil Fansa, provides toy5 for disadvantaged children. The project is run in partnership with Location Location estate agency. This year we had surplus toys from the previous year's generous donations, so the Winter Toy Appeal was asked to provide just 60 additional gift5. 55 One for All vouchers (voucher5 which can be used in several national stores) remained from the previous year and fund5 donated by a corporate (Snap Inc) were used to purchase 70 One for All vouchers in 2023. This amounted to £1,400.99. Give in Lent The Trussell Trust has a campaign called Give in Lent, which asks people to donate specific food to a food bank on each day of Lent. Hackney Foodbank took part and, though donations weren't classified as slemming from one campaign or another, we received 10,200 kg of food in February and March 2023. In February and March 2024, we received 8,400 kg of food and £1,306.84 of donations via our online store Give Today. In 2024, local companie5 donated 366 Easter Eggs as well as a large donation of chocolate bars from Cadbury's.
PARTNERSHIP WORKING AND SIGNPOSTING- .
21 Partnership Working We believe that, in one of the richest countries in the world, food banks should not need to exist. We are helping food bank vi51tors move out of poverty through our partnership work with organisations who offer advice on specific areas {such as debt management), through our case work project and through engagement with wider partnerships in the borough and London.wide. We are a Trussell Trust food bank, and we therefore receive advice, support, and funding from the Trust. Since September 2023, we've been managing the Hackney Food Network la partnership of over 40 Hackney voluntary and community organisations providing food parcels, cooked food, food hubs, community supermarkets and co-ops for Hackney residents). The Council's Poverty Reduction Tools meetings contlnue to provide help for those supporting people in poverty In the borough. The partnership we forged in 2020 with Growing Communities continued during 2023-24. They donated fresh, organic produce weekly - 7.2 tonnes of fresh fruit and vegetables in 2023-241140 kg a weekl. This was 17% higher than in 2022. This allowed us to distribute fresh produce in two or three of our six food distribution centre5 IFDCSI. We also received our first donation of fresh fruit and vegetables from the Felix project In 20231558 kg). We anticipate the donatlon5 from Felix will increase dramatically in the comlng years. We are grateful too to the local businesse5 and charities who donate fresh fruft and vegetables, bread and cooked meals to our centres, Signposting The visltors who access the food bank are offered hollstic support: emergency food alongside signpostfng to local advisory partners who can help address specific issues. Thi5 relies on agencies and signposting organisations having the capacity to issue vouchers and additional services to those in need. We've been able to increase this signposting with the appointment of our first case worker (see above). We keep up-to.date information sheets, which we give to our food bank visitors. These cover housing, mental health support, places to get free or cheap food, support for people with no recourse to public funds, domestic violence, budgetlng, and debt, LBGTQl+, and culturally specific organisation5. The leaflets are translated into community languages to reach the widest possible audience. We have continued to strengthen our relationships with our referral partners, to ensure our visitors receive the best possible support to help them out of food insecurity in the future. Hosting events for our referral partners to attend are a way to forge closer links with our referral partners and to widen their knowledge of the other agencies in the borough.
FINANCIAL REVIEW
23 For the 15 months to 31 March 2024, The Hackney Foodbank generated a loss of £283,356. During 2024, total income received by the charity came to £1,951,250. (2022: £1,239,189) with expenditure of £2,274,650 (2022: £1,222,921). For the details behind these figures, please consult the fi'nancial statements which follow the report. Both the income and expenditure include 'donations-in-kind' This includes the value of food we receive and distribute, but not the value of thousands of hours of volunteer time donated to the charity. In 2024, Hackney Foodbank's principal sources of funds comprised: Indlvldual and corporate donatlons: £1,195,766 Value of food donated: £391,855 £350,050 Grants: Reserves Policy Hackney Foodbank'5 'f ree reserves. are intended to protect the charity against significant fall in income; to finance opportunities that may present themselves; and to meet other unexpected calls on funds. Hackney Foodbank's reserves pollcy requires that the charTty retalns free reserves {being unrestricted fund5 less fixed assets and food stocks> in unrestricted funds to be sufficient fundlng for three to six months of normal expenditure and any closure costs. At the end of 31 March 2024, unrestrlcted funds total £860,90212022: £1,234,257>. Of this amount, £749,670 (2022: £1,112,446) Is considered as free reserves. Thls Is 20% above our reserve policy and the board may conslder granting further funds to approprlate local organlsations. During the 15-month period, the Trustees disbursed £428,000 in grants to local charities which fulfilled the airns of the food bank. This has reduced our reserve5 whlle increasing support in the community. Fundraising The charlty did not use the services of a professional fundraiser during thls period, and we have not received any complaints about our fundraising in the period endin8 March 2024. Hackney Foodbank is a member of the Fundraising Regulator and adheres to Tts Fundraising Code of Practice.
24 Hackney Foodbank Annual Report 2024 Investments Hackney Foodbank Tnve5tS Using an ethical fund ICCLAI. The key drivers for making the investment were to manage the risk of loss of cash due to bank failure, and to optimise the return on the cash we hold. We have made a £40,000 gain in our investments this period. Investment performance is reviewed quarterly by the Finance, Audit and Risk Committee. Risks and Uncertainties Hackney Foodbank, like all food banks fn the UK, is respondlng to Increaslng demand arising from the UK'5 COSt.of.living crisis. As mentioned previously, we have faced Increasing demand for our services over the previous year, falling food donations, falling volunteer Involvement, and operating costs rising signifi-cantly. We expect demand lo continue growSng In the immediate future. We have increased the number of Staff In our Communications and Fundraislng team by one. The second member of staff was funded by the Trussell Trust Sustainabllity Fund and is concentrating on working with corporate organisations. This is anticipated to Increase the amount of food donated and funds donated in the coming year. We have also set up a standing sub-committee of the board to deal with communication5 and fundraising. We also anticipate that this will increase our funds going forward.
Trustees, Responsibilities The Trustees are responslble for preparlng the Annual Report and the flnanclal statements In accordance wlth appllcable law and Unlted Klngdom Generally Accepted Accountln8 Practlce (UK GAAP). Company law requlres the Trustees to Ppare flnanclal 5taternents for each financlal year, whlch glve a true and falr view of the state of affalrs of the company and of the surplus or deflclt for that perlod. In preparlng those accounts, the Trustees are requlred to: select sultable accountlng polldes and then apply them conslstently. make Judgements and estlmates that are reasonable and prudent; state whether appllcable accountln8 Standards have been followed, subject to any materlal departures dlsclosed and explalned In the accounts. prepare the accounts on the qolng concern basls unless It Is Inapproprlate to presume that the company wlll contlnue In operatlon. The Trustees are responslble for keepln8 proper accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the company and to enable them to ensure that the accounts cornply wlth the Companle5 Act 1985. They are also responslble for 5afe8uardlng the a55ets of the company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularftles. As far as the Trustees are aware, there Is no relevant audlt Informatlon of whlch the audltor5 are unaware. Each Trustee has taken all the steps that they ou8ht to have taken as a Trustee In order to make themselves aware of any relevant audlt Informatlon and to establlsh that the company's audltors are aware of that Informatlon. Th15 report has been prepared In accordance wlth the speclal provlslons for small companle5 under Part Vll of the Cornpanles Act 1985, and In accordance wlth the Statement of Recommended Practlce - Accountlng and Reportln8 by Charltles 2005 (Revlsed 20081. Declarations The Trustees declare that they have approved the Trustees, Annual Report above. Slgned on behalf of the charlty's Trustees: Sfgnature. Full name: -QOL ( K) Date:
26 Hackney Foodbank Annual Report 2024 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HACKNEY FOODBANK (Company limited by guarantee and not having a share capital) Opinion We have audited the financial statements of Hackney Foodbank for the 15 months ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet and the related notes including a summary of the significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reportlng Standard 102: The Ffnancial Reporting Standard applicable to the UK and Republic of Ireland (United Kingdom Generally Accepted Accountlng Practlce). This report is made solely to the company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken so that we mlght state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion, the financial Statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incorne and expenditure for the 15 months then ended. have been properly prepared in accordance with United Kingdorn Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Basis of Oplnlon We conducted our audlt in accordance with International Standards on Audftlng (UK) {1SAs (UK)) and applicable law. Our responsibilities under those standards are further described In the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements fn the UK, Including the FRC'S Ethlcal Standard, and the provfslons available for small entities, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe Ihat the audit evidence we have obtained is sufficient and appropriate to provide a ba515 for our opinion. Conclusion5 Relatlng to Going Concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condition5 that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authori5ed for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
27 Other Informatlon The Trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our OPTnion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statement5, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fi'nancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material mls5tatement of the other information. If, based on the work we have performed, we conclude that there Is a material misstatement of thls other information, we are requlred to report that fact. We have nothing to report in this regard. Oplnlons on Other Matters Prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, report for the financlal year for which the fi'nancial statements are prepared is consistent with the fi'nancial statements. and the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on Which We are Required to Report by Exception We have nothing to report in respect of the following matters In relation to which the Companies Act 2006 and the Charities (Accounts and Reports) Regulations 2008 require us to report to you If, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not Vlslted by us; the financial statements are not in agreement with the accounting records and returns; certain disclosures of Trustees, remuneration specifi'ed by law are not made; or we have not obtained all the Information and explanatlons necessary for the purposes of our audit; the Trustees were not entltled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption in preparing the Trustees, report and take advantage of the small companies exemption from the requirement to prepare a Strategic report.
28 Hackney Foodbank Annual Report 2024 Responsibilities of the Trustees As explained more fully Tn the Trustees, responsibilities statement, the Trustees are responsible for the preparation of the financial Statements and for being satisfied that they give a true and fair view, and for such internal control a5 they determine is necessary to enable the preparation of fi'nancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, discl05ing, as applicable, matter5 related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our Responslbllltles for the Audlt of the Flnancial Statements We have been appointed as audltor under Companies Act 2006 and report in accordance with the Act and relevant regulations made or havlng effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with1SAs IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to inftuence the economic decislons of users taken on the basls of these financial statement5. Irregularities, Including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including f raud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non.compllance with appllcable laws and regulations. We identifi'ed the law5 and regulations applicable to the charitable company through discussions with Trustees and other management and we a55essed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of control5, we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and invest7gated the rationale behind significant or unusual transactions.
29 In response to the risk of Trregularities and non-complTance with laws and regulations, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; and enqulring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non.compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, If any. Material misstatements that arise due to fraud can be harder to detect than those that ar1se from error as they may Involve deliberate concealment or colluslon. A further de5CriPtlon of our responsibilities for the audlt of the fi'nancial statements is located on the Financial Reportlng Council's website at: www.frc.org.ukllibrary/ standards-codes-policylaudit-assurance-and-ethics/auditors.responsibilities-for-the- audit/ This description forms part of our auditor's report. Knight Goodhead Limited is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment a5 auditor of a company under section 1212 of the Companies Act 2006. Use of Our Report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company's members as a body, for our audlt work, for this report, or or the opinions we have formed. C J Goodhead FCA Senior Statutory Auditor Knlght Goodhead Llmlted Chartered Accountants and Statutory Auditors 7 Bournemouth Road Chandler's Ford Eastlelgh Hampshire. S053 3DA 11
30 Hackney Foodbank Annual Report 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2024 PerlcJ ended 31 March 2024 Year ended 31 Dec 2022 Note Unresirlcttd Rejtrtrted Total Unreitrlcted Restrlcted Total INCOIIE FROM: Donatlons and Legacie5 1.173,689 372,127 1,545,816 855,458 130.426 985,884 Donated Food 391,855 391,855 222,746 222,746 Other Donated Goodslservlces 28,324 28,324 Other Income 13,579 13,579 2,235 2,235 Total Income 1,579.123 372,127 1,951.250 1.108.763 130,426 1.239,189 EXPENDITURE ON: Value of FotJ Glven Away 500,429 22.565 522,994 403,922 5,C¥JO 408,922 txher Expenses on chatable Actlvltles 1,558,979 192.680 1,751.659 688,972 125,OZ7 813,999 Total Expendlture 2.059.408 215,245 2,274,650 1,092.894 130.027 1.222,921 NET INCOMEIIEXPENDITUREI BEFORE GAIN5 AND LOSSES 1480,285) 156.882 1323,400) 15,869 399 16,268 INVESTMENT GAINSIILOSSESI 40,044 40.044 119,5831 119,5831 TRANSFER BETWEEN FUNDS 66,885 166,8851 REVALUATION OF sfocK 55.705 55,705 NET AIOVEMENT IN FUNDS 1373,3561 89.997 1283,3561 51,991 399 52.390 Balances Brought Forward at 1 January 2023 1,234.257 62.866 1.297,123 1.182,267 62,466 1.244.733 BALANCES CARRIED FORWARD AT 31 MARCH 2024 860,902 152,805 1.013.767 1.234,257 62,866 1,297.123 Movements on all reserves and all recognlsed gains and losses are shown above. All of the organisation's operations are classed as contlnuing. The notes on pages 34 to 41 form part of these flnanclal statements.
31 BALANCE SHEET FOR THE PERIOD ENDED 31 MARCH 2024 31 March 24 31 Dec 22 Unr•tht•d lrfci•d Toibl Unr•strkt•d Restyirted A5SErs Flxed Assets Motor Vehkles 79,314 79.314 20,413 20,413 Olflce Equlpment Invejtmenls 2.084 2,084 269.411 3,181 3.181 269,411 229,367 229,367 Total Flx•d Assets 350,809 350,809 252.962 151.961 Curr•nt As*ts Stocks 29.834 29.834 98,217 98.217 Debtor$ 96.995 9,964 106,959 105,959 105,959 payments 6,¢XIZ 0,{)1 9,7aJ 9,783 Cath at Bank and In Hand 4Z8,761 142,901 571,662 795,693 126,Z21 921,914 Tot•1 Curr•nt Al15 501,592 151,J65 714,457 1,IX19,651 126,221 1.135,873 Total A$t5 912.400 152,865 1,065.265 1,262,614 1 Z6,2ZI 1.JIB.834 UAOILITIES Current Llabllltles: Falllni Due Vllihln 12 Month5 Current Credltors 17,860 17,860 9,811 9,811 Accruals 33,(AO 13.640 18,546 55,855 74,401 Deferred Income 7,500 7,5 Totsl Current LbIlItI•5 10 51.500 51,500 28,357 63,355 91.712 N•t Ass•ts 860,902 152,165 1,013.767 1,234,257 62,866 1,297,123 Equlty General Fund 60.902 860,902 1,234,257 1,234,257 Restrfcted 11 152.865 15Z.065 62.066 62,866 Total Equlty 160.902 151,065 1.013.707 1.234,257 62,866 1,297.123 The Trustees acknowledge thelr responslblllty for complylng wlth the requlrernents of the Companle5 Act 2006 wlth respect to accountln8 record5 and the preparatlon of accounts. The accounts have been pPared In accordance wlth the provlslon5 In Part 15 of the Companles Act 2006 appllcable to companles subject to the small companles reglme and In accordance wlth the Flnanclal Reportln8 Standard for Smaller Entitles leffectlve Aprll 2008). The Trustees acknowledge thelr responslbllfty for ensurlng that the company keeps proper accountlng record5 whlch comply wlth 5ectlon 386 of the Act and for preparlng finandal statements whlch glve a true and falr vlew of the state of affalrs of the company as at the end of the financlal year and of Its profit and loss for the flnandal year In accordance th the requlrements of sectlons 394 and 395 and whlch otheryAse comply wlth the requlrements of the Companles Act 2Q06 relatlng to accounts, so far as appllcable to the company. Approved by the Trustees on the: 261f £9 Slgned on thelr behalf by Trustee: Prlnt name: Company Re8lstratlon Number.. 7877042
32 Hackney Foodbank Annual Report 2024 STATEMENTS OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024 31 March 2024 31 Dec 2022 Notei Net Cash Flow Provided by Operatln8 Activities 1254.9751 132,862 Cash Flows from Investfng Actlvitles Interest Received 13,579 Z,235 Purchase of Flxed A55ets 166.8121 17841 Sale of Fixed A55ets Purchase of Investments 150,0001 IGalnl/Loss on Investments 140,044 19,583 Net Cash Flow (350,252) 103,896 Cash at the End of the Year 571,662 921,914 Cash ai Start of the Year 921,914 818,018 IDecrea5elllncrease In Cash In the Year 1350.2521 103.896 1. Reconclllation of Net Movement in Funds to Net Cash Flow from Operatln8 Actlvities 31 Alarch 2024 31 Dec 2022 Net Movement In Funds for the Year 1283,359 52,390 Interest Recelved 113,5791 12,2351 Profit on Dlsposal Depreciatlon 11,C¥)8 5,463 Decrea5elllncreasel In Debtors 2,781 134,8091 IDecreaselllncrea5e In Credltor5 140,2121 45,979 t)e¢rease In Stock 68,386 121,779 Revaluatlon of Stock 155,7051 Net Cash Flow fmm Operating Actlvltles 1254,9751 132,862
33 2. Analysls of Cash and Cash Equivalents 3 1 Ilarch 2024 31 Dec 2022 Cash at Bank and In Hand 571,662 921,914 Total 571,662 921,914 3. Analysfs In Change In Net Debt 31 Dec 2022 Cash flow5 Other non-cash changes 31 March 2024 Cash at Bank and In Hand 921,914 1350,2521 57t,662 Total 921,914 1350,2521 571,662
34 Hackney Foodbank Annual Report 2024 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES Basis of Preparation of the Financial Statements The financial statements have been prepared in accordance with applicable accounting standards, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 (effective January 20191. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Inltially recognTsed at historical cost or transaction value unless otherwise stated in the relevant accountlng policy notes. The particular accounting policles adopted are set out below. The 2024 accounts are for the 15 month period to 31st March 2024. As a result comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. Incoming Resources Recognition of Incoming Resources These are included in the Statement of Financial ActlvltTes (SOFA) when: the charity becomes entitled to the resources; the Trustees are virtually certain they will receive the resource5. and the monetary value can be measured with sufficient reliabillty. Incomlng Resources wlth Related Expenditure Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. Grants and Donatlons Grants and donations are only included In the SOFA when the charlty has unconditional entitlement to the resources. Tax Reclalms on Donations and Glfts Incoming resources from tax reclaims are included In the SOFA in the same fi'nanclal perlod as the gift to which they relate. Contractual Income and Performance Related Grants Thi5 is only included in the SOFA once the related goods or services has been delivered.
35 Glfts In Klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Glfts In Kind - Donated Stock Donated Stock (mostly being food and household items) is recognised as income and expenditure based on the weight donatedlgiven out In the accounting period. The value per kg is in line wlth Trussell Trust guTdelines. If the guideline value f rom the Trussell Trust changes, the stock held as at the fi'rst day of the new accounting year is revalued with the galn11055 taken to the SOFA. Donated Servlces and Facllltles These are only Included in incoming resources {wlth an equlvalent amount in resources expended) where the beneflt to the charity is reasonably quantlflable, measurable and material. The value placed on these resources Is the estimated value to the charity of the service or facility received. Volunteer Help The value of any voluntary help received Is not included in the accounts but is described In the Trustees, annual report. Expenditure and Liabilities Liabllity Recognltlon Liabillties are recognised as 500n as there is a legal or constructive obligation commlttlng the charity to pay out resources. Grants wlth Performance Condltions Where the charity glve5 a grant with conditions for its payment being a specific level of service or output to be provlded, such grants are only recognlsed In the SOFA once the redpient of the grant has provided the speclfled Service or output. Operatlng Leases Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Penslon Costs Contributions in respect of the charltable company's defi'ned contrfbutlon scheme are charged to the SOFA in the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown in other creditors at the year end.
36 Hackney Foodbank Annual Report 2024 Fixed Assets Tangible Flxed Assets Office equipment from £500 - £5,000 are straight line depreciated over 3 years. Offi'ce equipment with a longer life costing over E5,000 are straight line depreciated over 5 years. Motor vehicles are straight Ilne depreciated over 8 years. Other assets that are deemed to have a longer life than 5 years can be depreciated at a longer time with the Trustees approval. Investments Investments held by the charlty are held for the long.term and so are considered a fixed asset. Investments are initially recognlsed at their transactlon value and subsequently measured at thelr fair value as at the balance sheet date, using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities as a combined realised or unrealised investment gain or loss, shown in the heading 'Net gainslllossesl on investments" Going Concern The charitable company expects to be able to continue in operation through the continued receipt of gifts and grants. Cash flow forecast for the next 12 months indicate that income and cash balances carried forward should be sufficient to cover the budgeted costs. Therefore these accounts have been prepared on a going concern basls. Financial Instruments The charitable company only enters into basic financial Instrument transactions that result in the recognitlon of h'nancial assets and liabilities like trade and other debtors, cash at bank and creditors. These basic financial instruments are measured at transaction price and are subsequently measured at amortised cost. Financial a55et5 and liabilities classifi'ed a5 due within one year are not amortised. Taxation The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the FTnance Act 2010 and therefore it meets the definition of the charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
37 2. INCOME 31 March 2024 31 Dec 2022 UnTe5tricled Aestrlcted Unrv5trl¢tEd Restricled Total Donations and Legacles Donatlons 958.399 958,399 700,792 2,520 703,312 Grant5 6,843 343.207 350,050 41,749 127,906 169,655 CorF4)rate Oonatlons 208,447 28,920 237,367 112,917 112,917 Fundralslng Event Total 1,173,690 372.127 1,545,816 855,458 130,426 985.8É4 Other Income Value of Donated Fd 391,855 391.855 222,746 222,746 Value of Other Donated Goods and Servlces 28,324 28.324 Other Income 13,579 13,579 2,235 2,235 Total 405,434 405,434 253,305 253,305 Total Income 1.579,124 372,127 1,951.250 1,108.763 130,426 1,239,189 3. EXPENDITURE 31 Alarch 2024 31 Dec 2022 Unrestrt¢ted Re5trlct2d Unr•itrlc¢*é Resirlcted Total Fundralslng Actlvlties le¥, Fundralslng Staff I 33,674 33,674 16,050 16,050 Governance Costs 25,961 25,961 18,999 18.999 Premise5 Costs 216,029 8,102 224,131 117,243 117,243 Salarle5 and Payroll Cost5 625,845 123,584 749,430 352,773 74,412 427,185 Value of Donated Food Given Away 460,238 460,Z38 344,525 344,525 F¢xKI Purcha 40,191 22,565 62,756 54,848 5,000 59,848 Food Purchase5 Adlustrnent 1,128 1,128 4,549 4,549 Phone to Food IFace Lkjnatel 76,582 76,582 26,538 9,154 35,692 Vouchers and Grants 435,403 58,980 494,383 12,205 6,750 18,955 General Expenses 144,354 2,014 146,368 145,164 34,711 179,875 Total 2.059.405 215.245 2,274,650 1.092,894 130.027 1,222.921 The Value of Food Given Away per the SOFA is the sum of: Value of Donated Food + Food Purchased directly by Hackney Foodbank + Food Purcha5e5 Adjustment (see Note 6 Donated Stock51. Included within Governance Costs above are amounts due to the auditor in relation to the audit of £7,182 12022: £7,380).
38 Hackney Foodbank Annual Report 2024 4. STAFF COSTS 31 March 2024 31 Dec 2022 Wages and Salarfes lillcludlng PAYEI 686,875 391,292 Employer Nl Contrlbutltsn5 (Net of Employment Allowance) 45.355 28,905 Employer Penslon Contrlbution5 17,231 6,968 Total 749,461 427, 185 Average number of efflployees who were engaged In each of the followln8 actlvltles 31 March 2024 31 Oec 2022 Actlvltles In Furtherance of Organisatlon's Objects 18 10 Management and Administratlon Total 22 16 Employee Numbers as an Average rrE (Full Tlme Equlvalent): 17.0 One employee received emoluments in excess of £60,000 Durlng the year one member of key management personnel was paid remuneration and benefits totalling £66,450. (2022: one member pald £51,425>. During the year redundancy payments of £9,894 was pald to one employee. None of the Trustee5 were paid remuneration or have received other benefits from employment with the charity or a related entity. 5. INVESTMENTS 31 March 2024 31 Dec 2022 Unr•strlrt•d R•itrl¢ted Tht•l Unr•strl¢ied Restrlcled Total Market Value at 1 January 2023 229,367 229,367 198,951 198,951 Addltlon: CCLA Charlty Fund 50,COO 50,000 GalnllLos51 on Revaluation of Investment 40,044 119,5831 119.5831 Market Value at J l March 2024 269,411 269,411 229,367 229,367 6. DONATED STOCKS 31 March 2024 R2voluJtlon Of Openin4 Stock b•lance 1.1.23 tlonat•d Stock Purcfv15ed Food 5totk Out BaLince Jl.03.24 Donated Stock5 98,217 391.855 62,756 522,994 29.834 rotal 98.217 391,855 62,756 522,994 29.834 Stock of 12,588 kg with the value of £29,834 using the Trussell Trust guidelTnes of £2.37 per kg was held at the period end (2022: 41,442 kg valued at £2.37 per kg; E98,2171. Note: This is not a liquid asset ané is only to be donated to individuals in need.
39 7. FIXED ASSETS Offlce Equlprner*t Total ActuallRevalued C05t At 1 January 2023 28,820 6,567 35,387 Addltlons Durin8 Year 66,888 1,924 68,812 Dlsposals Dudn4 Year At 31 March 2024 95,708 8,491 104,199 D•preclatlon . At 1 January 2023 8,407 3,386 11,793 Charge for the Year 7,987 3,021 11,CQ8 D15P05als Dur(n8 Year At 31 Mjrch Z024 16,394 6,407 ZZ,801 Net Book Value At 1 January 2023 20,413 3,181 Z3,594 At 31 Alarch 1024 79,314 2,084 81.39 All fixed assets are unrestricted. 8. DEBTORS 31 March 2024 31 Dec 2022 UrJrè11tted R•5trlct•d Tat•l Unr•strlcted R?strtctqol Accounts Recelvable 53,025 53,025 82,070 82,070 Accrued Income 9,964 50,028 19,983 19,983 Dep)slts 3,906 3,906 3,906 Prepayrnents 6.C02 6,002 9,783 9,783 Total 102.997 9,964 112,961 115.742 115,742 9. CASH AT BANK AND IN HAND 31 l•larch 2024 31 Dec Z022 Llnrestrlrt•d Rwtrieted Total Unre5trlcted ResErl£fed Total Cash and Cash Equivalents 428,761 142,901 571.662 795.693 126,221 9Z1,914 Cash and Cash Equivalents 428.761 142,901 571.662 795,693 126,221 921.914
40 Hackney Foodbank Annual Report 2024 10. CREDITORS (AMOUNT FALLING DUE WITHIN ONE YEAR) 31 March 2024 31 Dec 2022 Unre[(ted Restrted Unrestrtct•d Re5trlcted Total Accounts Payable 15.659 15,659 8.068 8,068 Waqes Payable 2.201 2,201 1,743 1,743 Accruals 33,640 33,640 18,546 55,855 74,401 Deferred Income 7,5C¥) 7.5 Total 51.500 51.500 28.357 63,355 91,712 11. RESTRICTED FUNDS B•lancq 1. 1.2J Expendltur• Transfer Balance 31.J.14 Donal Smlth The Move 9,964 3,986 5,978 Phone to Food 1,250 1.250 Lunch Club 2,609 2,609 p and Nut Donatlon Emeryency Appeal 16.456 16,456 Re5lrlcted Food Purchases 1,250 1,250 GLA Food Network CDJrdlnatlon 42,( 17,n7 24,273 Old Street Pdrtner5 (Home Dellverlesl 1.0 Clty Brldge Trust 20,950 20,088 Trussell Trust (Flnanclal Incluslonl 5,433 84.708 56,391 33,750 Trussell Trust IOrganlsln8 & Local Moblllsationl 40,913 48,027 57,073 31,867 Trussell Trust Istrateqlc Resources) 14,OCKI 18,Cto 27,112 4,888 rrussell Trust ISust)Inabllltyl 50,184 50,184 Soclety for the Rellef of Dlstress 1,639 1.308 331 Moblle Food Bank 72,810 5,925 166,8851 Volunteer and Staff Welfare 2,0 Varlous Smaller Restricted Funds 520 1,280 1.069 731 Total 6Z.866 372.127 215,245 166.8851 15Z,865 The transfer out of the Mobile Food Bank fund represents expenditure that has been capitalised.
41 12. OPERATING LEASE COMMITMENTS As at 31 March 2024, the charitable company had a fi've year rental operating lease commitment: 31 March 2024 31 Dec 2022 Wlthin One Year 15,150 Between One and Flve Years 60,600 Tofal 75,750 13. RELATED PARTIES TRANSACTION There were related parties transactlons In the period to 31 March 2024 (2022: none) £59 was paid to one Trustee for travel and subsistence. 14. GRANTS TO OTHER ORGANISATIONS Hackney Foodbank granted £480,000 to London Community Foundation to set up a Hackney Foodbank Community Fund to benefit communities in London in a convenient, impactful and tax efficient way. This amount included £72,000 in management fees to London Community Foundation. Hackney Foodbank also granted £10,000 to Hotline Meals for Passover, E5,000 to Boiler House and E4,998 to Carib Eats to help with their giving free and partially subsidiseé food to the community.
CONTACT US Our address: Wally Foster Community Centre Homerton Road London E9 5QB Phone us 020 72542464 (Mon- Fri, 10:00- 14.00) Email us lnfo@hackneyfoodbank.org Some of our many volunteers from 2023 Hackney Report design: www.hilarybarnes.co.uk foodb