Registered charity number 1150170 New Forest Basics Bank Report and Accounts 30 April 2024 New For•st Basios Bank Registered ¢harity number: 1160170 Report of the trustees lor the year ended 30 Aprll 2024 OUR OBJECTIVES Guided by the Christian ethos expressing God's love in action. we aim lo relieve poverty or financial haidship in the New Forest and surrour￿lng area by.. Providing food and other e88enlials to families and indrviduals referred to LLS by rewnlsed social work agencies, local authorftles, ¢Dmmunlty bodies, churches, charities and other organi8ation8 whose purpose indude$ the prewntlon or relièf or poverty I'refeTral agen￿¢1.),. Providing goods. $eryice$ and di8fftUonary grants in a88ociation with other referral agèneit8 to al￿￿ale poverty", Prowding, either on our own association w￿h another organlsallon, Practical guidance and trainlng for Iocgl people to t￿lP them improve budgeting for limited resour¢e¥, and lo maintain a healthy d￿t and lile81yle', arNI 0i8posal of food8, good8 or other stock which 1$ ¢on$Klered to be $urplu8 lo requirement, lo Charities or other organlsallons whose purpose8 indLNJe the relief of poverty or financlAI hardghip. We provide these servlces freely, IMpar￿allY, confidentially and non-judgemenlally, irrespective ol liplous opinlon, ra￿, nalionallty, ￿lour, gender, age, sexual oiientalion or pollucal opinlon. WHAT WE DO We operate in the Southern part of the New Forest, including Lymington. Pennington, East 8tsldTe, Boldre, BrockenhuTSt, Sway. Burfey, Milfordwon4ea, Everton, Bian8gor8. New Mllton and Barton- on-sea and the 8urfoLtnding areas. There aro many reason8 why p&oplw n¢od a food parcel.11 be ¢au8ed by $omethlng as simplo BS a benefrt payment being late, or a more seriou8 debt 18sue, an ungxpecled bill, a famlly breakdown, domestic wolenee. loslng a job or illness prevenlino the client from working. Receiving food parcel can help relieve the 81re88 that food poverty eauses. We prowde fo&J p8rcel8 lo allow our ¢lient8 some re8Pite while they flnd a way ftsmard, for example prowding a lead-in for the fiTsl Universal Credit payment lo be received. We may also work wllh other agen¢les to help our dlents firKI a way lo￿ard and lo become more self-Teli8nt. We rely on the generosity of local people. as well as reCeI￿ng sUPPOrt from local buslnesses and local gov•mm•nt. Our proce8818 $lmple'. Generous local people donats non-perishable food or money to u8., The ft)od is sorted by our volunteers and Supplemented with frègh itemg pur¢ha$ed locally and made up into bags designed lo feed individLtals or families for up to a week at the ts'mo., People who are in need either collect the parcels from us or it is delivered dlre¢t to thelr homes, or their ehildTen's schools, by our volunteers., We al80 make small discretionary grants where people egnnot afford lo feed the meter. The chaiity 1$ run entirely by volunteers who make an invaluable ￿nIrtbut1on of Ihelr Ilme and The Trustees have regard lo ttte guidanee iSsL￿1 by the Chartty Commi$$ion on publie benefit when plannlng their activities. New For•st 8asio$ Bank Registered oharity number: 1160170 Report of the trustees for the year ended 30 Aprll 2024 FINANCIAL REVIEW Donatlons and grants r•aelYAbl• Income from donations and grants recelvable reduced lo £236k In 2024. compared £259k in 2023. Grant Income £40k. a Slight Increase over the prevlous year1£36k). R•souro•s •xp•nd•d Resources expended on charitable aCti￿lIeS Increased by £6k to £222k In 2024. Thè average ¢081 Fer parcel in¢rea8ed from £31 to 43. This relle¢l$ the increase in the cost of food and provisions during the year. The co81 of Adminislralion has risen by £12.5k largely due to the outsourcing of the accounts prepai8ts.on and temporary paid help during the summgr. N•t Ino•mlng r•8•urMs and tot•1 lunds oarrl•d l•rward Nel incoming resources for the year ￿re £13k thlch, comblr*d ￿￿th funds brought fowmrd, glve total funds carried forward of £475k at 30 April. 2024. RESERVES POLICY The purp08e of our reserves poliw i• to en8ure th81 the New Fore8t 888ic8 Bank 18 able to continue d¢livtrring 11$ mission of Providing food and other b881c8 to Feople in de8ptrrate need. A8 a 81gnlficanl part of our fvrKls are tbed up in our nèw bulldlng, our rèaèrvès polley look8 at r88erve8 after deducting the nel book Valw of our fixeJ and other baslc items Y provide., or an unexpected reduction in elther cash or food donations. The Tru8tee8 revlewed thè mlnimum target loi these reserves in the year and decided to retain il al 6 month$ of forecast runnirvJ costs. For the year endlng 30 Aprll 2024. the minlmum target equate8 lo approximately £120k. The TruBtees revlew the mlnlmum target at least annually to ensure It remaln8 appropriate. NEW FOREST BASICS BANK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the trustees on my examination of the financial statements of the New Forest Basics Bank (the Charity) for the year ended 30 April 2024 set out on pages 5 to 8. Rosponslbllltles and basls of report As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination owe Charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independ•nt •xamln•r'8 Statsment I have completed my examination of the financial statements. I confimi that no material matters have come to my attention in connection wth the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or 2. the financial statements do not accord with those records, I have no concems 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 financial statements to be reached. David Griffiths FCA 13 Westville Ober Road Brockenhurst Hampshire S042 7ST N•w Forest Basics Bank STATEMENT OF ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024 Y*ar•nded 30 A ril 2024 Unrestrkted Restwicted funds fund5 2023 Totsl funds Totsl nds INCOMING RESOURCES Donatlons and orants receivable Donations Granl fundirvJ Gm ald 179,686 38.500 15,827 179,586 39.995 16.827 202,851 36,301 19,780 IA96 TrA41 donatlons and orants r•coivab 233.913 1.49 236,408 256,932 IJUwr Income.. Interest 134 134 14 TOTAL INCOMIWG RESOURCES 258,946 RESOURCES EXPENDEO Charllabl• Actlvlll•4 F£¥)d and househdd Emergency and Chrislmas Prem18es expense6 Depreckation Admin and pu￿laty 149,865 17,243 12,395 15,610 24.246 1.495 181,350 17,243 12,396 16.810 24,246 162,295 12,141 14,586 1S,269 11.741 1.200 T¢tsl ch8rhabE• •¢llvlll•s 216 032 TOTAL EXPENDITURE 219,349 2,695 222,044 216,032 Net ino)mlntyltyJlgclng1 resourceB for Ih• year 14.698 {1.2001 13,498 42.914 Total funds brwgm fLYward 434,778 28,400 461,178 418,284 Tr￿Sle1 betW8en funds TOTAL FUNDS CARRIED FORWARD 449,476 25,200 474,878 481.178 Now Forost Basics Bank R•gist•rèd number: Balan0• Sho•t as at 30 April 2024 1150170 Notes 2024 2023 Flxed ass•ts Tangible assets 204,563 221,373 Current assots Stocks Debtors Cash at bank and in hand 5,000 6.337 266,702 278,039 5,000 27,015 213,288 245.303 Croditors: amounts falling due wlthin one y•ar 17,926) {5,498) N•t aurr•nt ass•ts 270,113 239,805 Not assots 474,676 461 178 Restricted funds Unreslrict8d funds.. G8neral r8serv88 25,200 449,476 26,400 434,778 A¢oumulat•d fund 474 676 The financial statements were approved bythe Board ofTrustee8 on signed on their behalf by: 24and Oliver Stanley Chairman Charles Cooke-Hurle Treasurer Forest B•sios B•nk Not•s to th• Aooounts lor th• y•ar Ondod 30 Aprll 2024 1 A¢¢ountlng polkl•s 8*51s ofprepaTrUon The flnandal statements have been prepared under Ihe hlstoru eost ¢onventSon and In alwdance wilh the Statement of Recornrnended Praclle¢ Acwunthng and Repo￿ng by Char5tses IFRS 1021 and appllrAble UK ArLOun￿n0 Slandards and the Ch8t1Ies Act 2011. Incornlng ￿Sourc*S I In¢omlng resources are recognlsed once the charfty has enUUementto the rescur￿.. tt15 Certaln thatth8 resourceswKI bè reolved.. and the rnonetary value of In￿rning resources Gryn be rneasured sufflcknt rdLqbllty. Foodandhouseholddonatlons As a small ¢harSty, we do not have the systems lo enab￿ us to aewrately track the value of the food and household good5 that are donated by the pufjlc so no monetsry v e Is recognlsed for Ihe8e In theflnandal 8tsletnent5. However, we e5Urnale that these good5 represent one qu8rter to onp Ihl of Ihe value of the parcds we send out. Ihl$ apPr0￿mates to be￿een £40,000 and £55,OOQ In t¥K)netary tsrn)6. Voluntèèrs The charlty does not have ary p81d rrÉmber8 of stsfi and Is dependent on the work cl Its V￿￿nteerS and other volunteer organisallons lo collect food. pack and ddiver parcels and manage dl of the a550rAated support aclvities. No monetsry value 1$ e4gnlsed In the flnandal Ststements for the wort d¢)Me by volunteers. r•nglble fixed•ssets Tanglble Ilxed assets are 8tated atcost ￿58 depreCIa￿on. DeprecLqtlon Is provlded at rates ¢alcuLqted lo wrSte off Ihe costof fiKed assets. less Ihelreslmated resklual value, over thelrexpected uselul Ilves on the follththng basls.. asset wènly ¢)ver Rs expected utselul I￿*, as folbw$'. Lea8ehold land and bulkll Motor vehldes Flxture6 & fltllngs 8tralgh141ne metho¢J over the IK9 of Ihe lea8e 25% redudng balance method 10 years &tra￿hl-1In@ method Slo¢ts As noted above we do nol have a syst8m to enable us lo accurately track the value ￿ donated 9LKA5. The stock f￿au￿ Induded In the balance sheet Is our best estlmate olthe c08tof loo(J ané household gocxys In ourstore at Ihe year end. Tnls stock wa8 dL8lrtbuted very soon after Itwas recelved. l•w For•st Baslos Bank Not•s to the Ao#ounts f•rth• ymr •nd•d 30 April 2024 2 Tanglblefix•d a55ets Land and bulldings Flxthre5 & frttings vehicles Totsl C05t At 1 May 2023 At 30 Aprfl 2024 210.087 210,087 6,586 6,586 37,209 37,209 253.882 253,B82 O•preclatlon At 1 May 2023 Charoe for the year At 30 Aprll 2024 25,200 8,400 33 600 1.100 6,209 7,750 32,509 16.810 N•t l>ook valu• At 30 April 2024 176 487 204 583 At 30 Aprfl 2023 310 221373 3 D•b¢oTS 2024 2023 Prepayments Olherdebtors 4,337 ,835 08blors at 30 Aprti 4 Cr•dRoM: amounts falllng du• vthhln on• ymr 2024 2023 Aecruals Oeferred Income Trade credttors T8xalon and 80GKql Becurlty costs other credltor 1.448 1,566 116 456 1.363 3,061 Deferred Income reprg8ents grants recelved where the assOc￿ted costs have not been Sncurred belore the ye8r end. 5 Anllysls of n•t ass•ts l>•twn fvnds 2024 2023 Vnrestrbcted fvnds R•strkted nds Total funds Unrestrf¢ted funds Reslfjcted funds Total fund5 Flxed assets Gurient assets Current Ilabillles 179.363 278,039 (7,9201 25.200 204￿63 278,039 17.9261 194,973 245,303 15,4981 26,400 221.373 245.303 15,4981 Total neta55ets 449 474 676 26 400 461178 Restrlcted funds rdalng to I￿ad a55ets reprewtfunds conMtAJted towards the cost of the new bulldlng by New Forest Olslrict Councll W Ihe Granary bulldlng18 sold, New Foiest District Counc¥l 16 enbued to reTri¥e the sarne proporbon of the proceeds as11 conthbuted to the oxt of building. These funds are klng to unreslrfcted funds over the 25 year lease of the bullding.