Tewkesbury foodbahk Tewkesbury Foodbank Charity No: 1151000 Trustees, Annual Report & Statement of Financial Activity for the period l April 2023 to 31 March 2024 Trustees Marion Badham Sandra Ditchburn Helen Hill Stuart Hutchison Gordon Sandford Carolyn Seaton Andrew Simpkins Michael Waldron Elizabeth Walker 1st September 2024 Page l of 17
Contents Introduction................ Charitable Objects.-...... Overview (Executive Summary)... Artivities & Achievements...... Outputs & Outcomes.... The Roles & Contributions of Volunteers....-.... Performance Indicators.............-. Looking Ahead........... Financial Review .... Financial Position...-....... Details of Any Funds Materially in Deficit . Policy on Reserves........... Description of the Principal Risks Facing the Charity . Remuneration of Trustees.............. Reference and Administration Details . Charity Name & Registration.........-... Chariws Principal Address........-. Names of the Trustees Who Manage the Charity............ Name of Project Manager........-.... Bankers.... Independent Examiner. Structure, Governance & Management ................ Type of Governing Document ....- Statutory Declaration ... Trustee Selection Methods ........... Trustee Development.... .10 10 .10 .10 .10 .10 6 Statement of Financial Artivities . 6.1 Independent Examiners Report.............. 6.2 Statement of Financial Activities........-.. 6.3 Balance sheet. 6.4 Notes to the financial statements- year ended 31. March 2024......-. 11 .11 .12 .14 .16 Poge 2of 17
Trustees Annual Report & Statement of Financial Activity for the period l April 2023 to 31 March 2024 l. Introduction 1.1 Charitable Objects Our governing document states l. To provide emergencyfood aid to people in Tewkesbury and surrounding areas in need, hardship or distress (beneficiories) who ore referred to us by authorised partner agencies. 2. Further to (l) above, to supply goods to beneficiaries, either dirertly or through agency partners approved by the trustees. Goods to include (but not to be limited to) food, including tinned and driedfoods, to ensure a healthy, balanced and nutritious diet sufficientfor 3 days at a time, olso clothes, furniture, toys. 3. To do any other thing consistent with the primary purpose of the charity, including (but not limited to), the provision of counselling and other advisory services. The trustees confirm thatthey have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. 1.2 Overview (Executive Summary) Tewkesbury Foodbank serves the community of Tewkesbury Borough which has a growing population approaching 100,000. In the last 10 years the Foodbank has been able to meet all requests for support through the generous help of the local community, churche5, businesses and voluntary associations and the local borough and county councils. In the financial year 2023/2024 Tewkesbury Foodbank fulfilled 1532 food vouchers which helped to feed over 3,300 people. This was an increase of 21% over the number of parcels provided in 2022/2023, an increase similar to other foodbanks around the UK. This provision wa5 made possible by the Foodbank receiving food donations valued at £36,580. In addition, cash donations and grants enabled us to make purchases of food amounting to £25,666, and to supply clients with vouchers for fresh vegetables and meat at a cost of £41,473. We also supplied fuel vouchers with a total value of £7,508 {£5,173 from our funds and £2,335 issued by Fuelbank Foundation from their funds). The total cash expenditure on meeting client needs was £72,313. This continued the shift in the 'business model, of the Foodbank where increasingly we are more reliant on cash donations and grants than gifts of food. The Foodbank Centre is operated by its team of dedicated volunteers who run the Centre five mornings a week, and manage the warehouse, food purchasing, collection and distribution activities. The Foodbank employs, on a part-basis, an experienced project manager to help manage Page3 of 17
the growing demands. The total costs of running the Centre and warehouse, including utility bills, vehicles, and staff costs was £32,466. Total expenses for clients and running costs were £101,840. The Foodbank is grateful for the commitment of local individuals, businesses and churches who provided regular and ad hoc donations amounting to £76,002 including claimed Gift Aid. In addition, in 2023 the Foodbank received a £30,000 Household Support Fund Grant from Tewkesbury Borough Council in response to the cost-of-living crisis. Total income was £107,180 which meant we have a small surplus for the year of £5,340. The Foodbank ended the year with Current Cash Asset5 of £206,264. However, with projected budget deficits as a result of increased demand outstripping regular donations, plus the potential costs of further investment in our services (as described below), the updated reserves policy shows that these funds are at a prudent level to cover projected expenditure over the next 12-36 months. 2. Activities & Achievements 2.1 Outputs & Outcomes The main focus of our activities is providing three days, worth of food (nine meals) for those in food crisis for whatever reason. Our clients may be assessed through independent partner agencies who referthem to us via a voucher system. Thirty-two agencies issued vouchers during the financial year. Our major referral agency has been Tewkesbury Borough Council who typically provided just over 5t half of all referrals, but the Council terminated this service on I September 2023. As a result, we have provided an in-house service for issuing vouchers but using the same criteria as are applied by our referral agency partners. Most vouchers are received via the Trussell Trust's elertronic referral system {E-vouchers) which has reduced the need to handle paper vouchers. The electronic system also gives us a real time overview of the number of vouchers that have been issued which helps us to react to the expected footfall. We continue to operate on a "Collection Onl¢, rather than a "Delivery Only" or Hybrid model as our catchment area is quite local and many clients are within walking distance. We can sometimes deliver parcels to those who have mobility or health issues. In the last year we have continued to see a further marked increase in the level of demand as a result of the cost-of-living crisis. The number of food vouchers fulfilled rose from 1270 in 2022/2023 to 1532 in 2023/2024, a 21Yo increase, and the number of clients helped rose from 2996 to 336512279 adults and 1086 children) a 12Yo increase on last year. This indicates there has been a disproportionately higher increase amongst households with no children compared to those with children. We have seen a higher number of single households coming in, which may be the result of the benefits system treating such people less well than households with children. However, on the purchasing side we were able to make considerable economies by movingto a new bulk supplier, Iceland, and by rationalising the content of food parcels to better focus on client needs. The cost of purchased food, fresh food and fuel vouchers, and Tesco Spend cards wa5 £72,313 which significantly exceeded the value of food donated of £36,580. Page4of 17
In addition to providing a suitable food parcel to each client and their family, food vouchers enable our clients to obtain fresh food at a local greengrocers and butchers. We also supply gas and electricity top ups to help with fuel bills. The vouchers provide important additional help to clients in difficult circumstances. We also provide a limited range of toiletries such as soap/handwash, shampoo, shower gel, deodorant, toothbrushes , toothpaste, washing up liquid and soap powder. We continued with our Christmas blessings initiative which is now embedded as part of our annual plan. Every household received Tesco Spend gift cards (which excluded alcohol and tobacco). We chose these cards because of the variety of items that could be bought, and we know that they enabled many families to buy Christmas presents. In total 151 families (241 adults and 300 children) were recipients of th is initiative. Through our partnership with the Fuelbank Foundation our clients can now receive vouchers for a minimum of £49 from November to March and £30 during the rest of the year (subject to certain criteria). During the last winter, this amount has varied each month to reflect the weather and energy prices. Vouchers are redeemable at a Paypoint outlet or Post Office. This scheme only applies to pre-payment meters, so we have mirrored the criteria and amounts and now credit the accounts of those with monthly/quarterly bills. This scheme has been of vital support to clients who otherwise would have struggled with affording heating during the winter months. When clients visit to collect parcels and vouchers, we look for opportunities to discuss their circumstances and where appropriate to signpost them to other agencies that may offer assistance. However, we currently lack the staff and skills to give more in-depth advice and so are currently investigating how we may provide greater assistance by working with the Trussell Trust's Financial Inclusion project. The Trust may also contribute funding to enable us to take on appropriate paid staff. We received a grant of £30,000 from Tewkesbury Borough Council during the financial year. These funds were used to purchase specific help for clients in terms of food, vouchers, and energy top- ups. 2.2 The Roles & Contributions of Volunteers In the last year we have relied on our volunteer team of around 45 members to operate the Foodbank. There are 5 teams of 3 or 4 volunteers who each run the Foodbank one morning a week. Each team has a team leader. A team of volunteers work at the warehouse, collecting and sorting food and transferring stock from the warehouse to the Centre. The Project Manager is in overall charge of operations supported by a Steering Group of the team leaders and the Treasurer. We are grateful to all our volunteers for their ongoing commitment to the Foodbank and the compassion that is shown to our clients. The combination of time, energy and expertise has enabled us to expand the support to our clients. 2.3 Performance Indicators The Foodbank's essential performance target is to provide food to every client who comes to the Foodbank, and we continued to achieve this in 2023/24. As explained above we have gone beyond this core objective by also providing fresh food and fuel vouchers and supplementary provisions such as through the Christmas blessings initiative. Page 5 of 17
A key target in the light of food inflation has been to carefully manage our food purchases. We have managed to reduce the cost per kilogram of purchased food from around £2.40 to £2.14 by a new bulk purchasing agreement. During the year we saw an increase over our budgeted figures in personal regular and ad hoc donations and in donations from churches and charities. Ad hoc donations from businesses were below budget but this was more than compensated by a greater than expected grant from Tewkesbury Borough Council. The Foodbank sets itself a target ratio of 30%170% in terms of running costs to client expenditure, not including food that is donated. In 2023124 the ratio was 31Yo/69¥. 2.4 Looking Ahead The Foodbank is facing a continuing and substantial increase in the number of clients while at the same time seeing a levelling off in the value of food donations. This decrease is at present being offset by an increase in cash donations and grants, but these are proving more volatile in nature. The Foodbank is extremely grateful for the support from Tewkesbury Borough Council. However, ad hoc grants made on a one-year basis, present a challenge in managing our finances on a consistent basis. Over the last year we have produced and are progressing a 'forward plan, of our activities. This has identified several actions to sustain the service provided to clients: a) Monthly tracking of client demand in terms of vouchers processed and stock levels in order to identify trends and manage the financial implications. b) Managing an ongoing plan to recruit and train our volunteers in order to maintain a high quality of service. c) Obtaining additional office space d) Investigating the resources needed to develop a 'signposting service, to clients to help them access further means of support in conjunction with the Trussell Trust's Financial Inclusion project. The major task in the last year has been to change the constitution of the charity to a Charitable Incorporated Organisation {CIO>. This effectively created a new charity but serving the same purposes. This change was considered necessary given the increased scale and costs of the Foodbank's operations plus the need to employ staff and potentially acquire premises. We prepared a new governing document based on the Charity Commission template which was approved by th them on 17 November 2023. The change also required a new bank account and HMRC registration. st The new charity commenced operation on l April 2024 but there will be a period of dual running of the old and new charities to address such issues as gift aid claims and funds transfers. Approval for the Transfer of Assets has been received from the Charity Commission. 3. Financial Review 3.1 Financial Position At 31" March 2024 we held cash funds of £206,264, Food Stock valued at £15,554.24 and fixed assets valued at £5,035 after depreciation. A detailed explanation of funds is given in Section 6.4. Poge 6of 17
Our total income for the year was £107,179.97 and total expenses were £101,840.09 giving a net surplus of £5,339.88. The majority of our cash funds are held in a portfolio of notice accounts managed through CAF via their Flagstone Platform which ensures that our funds are protected by the Financial Services Compensation Scheme (FSCS). The accounts are regularly monitored to benefit from changes in interest rates. 3.2 Details of Any Funds Materially in Deficit The Charity has no funds which are materially in deficit. 3.3 Policy on Reserves A review of our reserves policy is carried out each year. The Reserves Policy addresses the uncertainties in our financial planning notably: The future number of vouchers and beneficiaries - the number of vouchers fulfilled increased by 46% in 2022/23 and a further 21Yo in 2023124. It remains challenging to estimate future demand. The significant volatility in the level of financial donations in the last 3 years, particularly non- recurring grants. The opportunity to provide additional help and advice to clients (Financial Inclusion) requiring additional salary, training, and equipment costs. The rate of inflation and its impact on both client needs and our purchasing costs. The budget for the 2024/25 year shows a potential deficit of around £35,000 which will need to be covered from reserves. This excludes costs that would be associated with the Financial Inclusion project if it goes ahead in the coming year. The Reserves Policy is set out under the following headings: l. Cash Flow - This covers mismatches in timing between the income and expenditure and provides for 3 months expenditure on the Centre's overheads and its 'baseline' figure for purchases. 2. Contingencies Contingencies address specific risks in the risk register which could potentially seriously impact the Foodbank's operations. Notable risks include flooding or fire damaging the Centre and/or the warehouse, and increased rental costs. 3. Commitments The Trustees have set aside funds to ensure that we could sustain the Financial Inclusion project beyond an initial two-year period for which we hope to obtain a grant from Trussell Trust. It will take time to build up new sources of funds to support this initiative long-term and we have provided an additional 18 months of funding to the value of £60,000. 4. Conservation The conservation figure includes a provision for projected annual budget deficits. We expect to run a deficit of around £35,000 in the 2024125 year and this may continue at a similar level while we seek to raise additional funds. The conservation figure also includes what is left over in the current reserves once we have allocated funds to the above three categories for the coming financial year. Page 7of 17
The Trustees have therefore set the following totals for the Reserves policy for 2024/2025: Cash flow £29,000 Contingencies £15,000 Commitments £60,000 Conservation (budget deficits} £lOO,000 Total £204.000 Current cash funds Conservation (Balance) £206,000 £2,000 Given the uncertainty regarding both future income and expenditure we believe this is a reasonable allocation of our reserves and ensures we can maintain services over the next 3 years. The level of reserves will be reviewed on a regular basis by the Trustees to ensure that the funds are appropriate to fulfil our continuing financial obligations. 3.4 Description of the Principal Risks Facing the Charity The Charity maintains a Risk Register which identifies the risk5 to which the Charity is exposed, and the action5 proposed to eliminate or mitigate those risks. It is compiled in the light of the guidance provided by the Charity Commission's document 'CC26 - Charities ond Risk Management,. The Risk Register is reviewed on a minimum quarterly basis and reported at Trustees meetings. Trustees or staff are allocated responsibility for specific risks. The current Risk Register identr'fi'es risks under the following headings: Governance- The major risk in the year was the need to consider a new charity structure la CIO) appropriate to the increased financial and legal obligations of the charity. The new CIO received approval by the Charity Commission in November 2023 and takes over the running of the charity from 1st April 2024. The Trustees have also developed and are managing a strategic or forward plan to address the overall governance and direction of the charity in the light of the risks involved and future developments. Operations - the major risks are around maintaining the required number and skills of volunteers, ensuring adequate food stocks, and Optimising the value for money of food purchases. There are also risks around the ongoing availability of the Centre premises as well as its vulnerability to flooding which can in part be mitigated by insurance. Financial- the volatility in income and potential additional expenditures have been identified above underthe Reserves Policy. Careful management ofthe budget and making appropriate re-forecasts is a key mitigation task. The shift from food to cash donations by the Foodbank's supporters also has an impact on the running of the Foodbank and in planning for increased purchases of food. Client relationships - the Charity is committed to providing a good experience for clients. We work to ensure that all clients are treated with respect and their access to vouchers and food meets their needs. External risks - these are risks beyond the Charity's direct control but can have a major impact on the Foodbank, such as changes in government policy, the 'cost of living, crisis, or another pandemic. These risks require the Charity to provide agility and resilience in its operation5 and finances. Compliance-the Charity must continue to meet its Compliance obligations in terms of filing returns and ensuring it meets other legal and regulatory requirements such as safeguarding Page 8of 17
and health and safety. These risk5 are being addressed by appointing one trustee to have specifi'c oversight of each of the different areas of compliance and good practice. 3.5 Remuneration of Trustees All Trustees act in a voluntary capacity and receive no remuneration or other material benefits from their services to the Charity. Out-of-pocket expenses necessarily and reasonably incurred by Trustees in promoting the purposes of the Charity are reimbursed. 4. Reference and Administration Details 4.1 Charity Name & Registration Charity No: 1151100 Registered with HM Revenue & Customs 4.2 Charity's Principal Address 76 Church Street, Tewkesbury, Gloucestershire GL20 5RX e-mail: info@tewkesbury.foodbank.org.uk website. www. tewkesbury.foodbank.org.uk 4.3 Names of the Trustees Who Manage the Charity Name Marion Badham Sandra Ditchburn Helen Hill Stuart Hutchison Gordon Sandford Carolyn Seaton Andrew Simpkins Michael Waldron Elizabeth Walker Office Appointed Resigned Treasurer 31/03/2024 15/01/2024 Chair Chair 15101/2024 4.4 Name of Project Manager Michael Jones Email ro ectmana er tewkesbu .foodbank.or 4.5 Bankers Lloyds Bank 19 High Street, Tewkesbury CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ Poge 9of 17
4.6 Independent Examiner Mrs. Melanie Kisby 66 Church Street, Tewkesbury Structure, Governance & Management 5.1 Type of Governing Document Trust Deed dated 23rd January 2013 5.2 Statutory Declaration The Trustees confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. 5.3 Trustee Selection Methods There must be at least five charity trustees. In appointing Trustees consideration is given to ensuring thatthe Trustees have between them the skills and experience necessary to manage the charity effectively and in accordance with charity law. 5.4 Trustee Development There have been changes within the Trustee board with two resignations in the last year. Our thanks to the previous chairman, Gordon Sandford, and to Stuart Hutchinson for their services to the charity. The current trustees all have relevant experience in the charity sector and come with varied professional backgrounds. We will look to appoint additional trustees in the coming year. Approved by the Trustees and signed on their behalf. Signature Name Andrew Simpkins Helen Hill Position Chair Treasurer Date 2021 Poge Ioof 17
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl I LWJKcS8QQ4 KIK On accounts for the year ended mARck+ Charity no (rf any) 1151000 Set out on pages IL4t) 11 I report to the trustees on my examination of the accounts of the above charity ("the Trusf) for the year ended Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance viith the requirements of the Charities Act 2011 (Ihe Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. J confirm that no material matters have come to my attention ( th Independent examiner's statement thtrkcfor I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: Name: Relevant professional qualification(s) or body (if any): MOIIA OF fME CHALrE£Eb IAJtrifL)fc hJAL AutsiTfJL£ fjF INJr Address: C¥lV 20 ££z IER October 2018
TEWKESBURY FOODBANK 1151000 Statement of Financial Activities (Income & Expense) April 1, 2023 to March 31, 2024 Unrestrlcted Restricted Endowment Total Income Incotne and EndowTnents Ino)me from Donations and L8gacie5 DONATIONS BUSINESS DONATIONS 101 BUSINESS DONATIONS REGULAR 1,140.00 1.140.00 103 BUSINESS DONATIONS AD HOC 5.919.97 5,919.97 PERSONAL DONATIONS 102 PERSONAL DONATIONS REGULAR 24.750.80 24,750.80 104 PERSONAL DONATIONS AD HOC Z3.755.14 23.755.14 GR4Nfs - Non RecJJrring 30..00 30.000.00 Gift Aid Claim 6.362.99 6,362.99 105 CHARrrY & ORGANISATION DONATIONS 11.119.51 11,119.51 107 CHURCH DONATIONS 2.954.05 2,954.05 Investment Income Interest ReceNed 1.17T.51 1.177.51 Total Income 107,179.97 0.00 107.179.97 Expenses Expenditure cHAFTABLE ACTIWTIES CHARITY RUNNING COSTS 01 IT EQUIPMENT 971.50 971.50 E03 Operating Lease Expense 9,230.00 9,230.00 E04 VEHICLE COSTS 1,639.45 996.87 2.636.32 E07 CENTRE SUNDRIES 4.069.84 4.069.84 E08 STAFF COSTS 428.49 428.49 E09 Insurance 992.87 992.87 E18 Printing & Stationery Ctssts 531.93 531.93 UTILMES 2.825.35 2.825.35 E11 ENERGY SUPPORT 5,173.60 5,173.60 E15 FOOD TOP UPS {STOCK PURCHASE) 25.666.21 25,66621 E17 FOOD EXTRAS 41.473.00 41.473.00 Employee Costs Employer NIC 502.86 502.86 Page 12 of 17
TEWKESBURY FOODBANK 1151000 Statement of Financial Activities (Income & Expense) Aprll 1, 2023 to March 31, 2024 Unr•stricted Restricted Endovmient Total EmoyMent Allowan Recovered -502.86 -502.86 Payroll Costs 12.740.01 12,740.01 Pensions 325.02 325.02 E19 CLIENT ESSENTIALS 25.50 25.50 STOCK.'_ NET COST- Defiiit .249.55 -5,249.55 Total Expenses 101,840.09 other Recognised Gainsl(Lossesl GainsllLosses) on RevalLfation of Frxed Assets 310.00 310.00 N•t Resource Movèment 6,336.75 5,339.88 Net Movement In Funds 0.00 5,649.88 Total Funds Brought Forward 22111121 226,288.05 Total Funds Carried Forwd 228.757.96 4179J7 0.00 231,937.93 Page 13 of 17
TEWKESBURY FOODBANK 1151000 Charlty Commission Registration Number 1151000 Balance Sheet - Detail As at March 31, 2024 FixedAssets T8ngilJe Assets Cornwter Equipment Computer Eqvipment Cost 2.194.97 CompLrter Equipmenl Depreaation -1,594.97 Fuiure5 & Fttlings Fubjres & Frtbngs Cost 7.161.04 Fixiuw & FttÉings Depreciation -5.836.04 Fixtijres & Fittings Revalualic 310.00 Vehtdes Vehides Cost 12.000.00 Vehide5 DepreThati -9.200.00 Curygnf Assets Stocks Stock 15.55424 Debtors Cash At Bank And In H8nd CAF Charity Bank 4,750.00 CAF Charity Bank Reserves 90.500. CAF Charity BanL 64.750.00 FUELBANK FOUNDAllON FUNDING 3.859.80 LLOYDS BANK Current Account 46.164.53 Testtj Spend Cards pety cash 99.17 CTrdito Other Credilors Payroll Li8biltties HMRC Employee Nl 44.88 PAYE 370.07 Net Assets 231.937ts3 Funds & Resettves Reslricted Funds ASDA IVAN) 3.179.97 Unrestricted Degnated FrS Poge14 of 17
TEWKESBURY FOODBANK 1151000 Charity Commlssion Reglstration Number 1151000 Balance Sheet - Detail As at March 31, 2024 ENERGY VOUCHERS 12.258.30 KEVEN MACE Butche 11.765.00 PREMISES 25.385.00 WOODYS 15,653.00 Unr&stri¢t&J General FLttvIs FOOD STOCK 15.554.24 GENERAL FUND 148,142.42 Funds Provided 231.937.93 Poge 15of 17
6.4 Notes to the financial statements- year ended 31st March 2024 The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in line with the Financial Reporting Standard for Smaller Entities {FRSSEI and the Charities 5t Act 2011 and UK Generally Accepted Practice as it applies form l January 2015. Tewkesbury Foodbank holds the following funds for specific purposes. ENERGY (designated} Fuelbank foundation issue vouchers to our clients who are on prepayment meters on our behalf. A total of £7,508.60 was distributed in this Financial Year to our clients in need. We hold £16,118.30 in this fund for the next financial year. (£3,859.80 held by Fuelbank Foundation and £12,258.30 held in our funds ready to top up the Fuelbank fund). LLOYDS BANK Community Fund (designated) This grant was awarded in November 2014, and we continued to use this fund to SUPPOrt School holiday initiatives in all areas of the town. To ensure that we support the clients in the town this has been used to buy food. The current balance of this fund is now NIL. FOOD STOCK {restricted) This is a restricted fund as it represents our food stock movement with a monetary value calculated @ £2.37 per kg. {This value is recommended byTrussell Trust). This fund shows a slight increase as it reflects the increased amount of food that is being purchased. The year- end value of our food stock is £15,554.24 {6562 kg). WOODY'S (designated), MACE (designated) We continue to offer vouchers for fruit & vegetables from Wood¢s, the local farm shop, and with our local butcher, Kevin Mace. Last yearfs costs were Woody's £22,885, and Mace £13,320. These funds are made up from personal or business donations and the Household Support Grant funds from Tewkesbury Borough Council. The balances of these funds are £15,653 and £11,765 respectively. PREMISES (designated) We have a designated fund for the ongoing rental of our current premises which forms part of our Reserves. We also benefit from the use of a warehouse which is rent free thanks to Cotteswold Dairy, a local company who have supported the charity since it was formed in 2013. This funds now stands at £25,385. ASDA VEHICLE GRANT {restricted) We were successful in our application via Trussell Trust to purchase a newer van in January 2019. The grant also covered the first years running costs. The remaining amount in this fund is to allow for depreciation. This funds now stands at £3,179.97. TESCO SPEND CARDS These gift cards are purchased at a minimum total value £IOOO and in amounts of £10 for distribution to clients. Until they are activated, they have no cash value. We distribute these Poge 16of 17
vouchers mainly at Christmas and in exceptional circumstances. We currently hold £900 of activated cards. We issued a total of £5,230 during this financial year. TEWKESBURY BOROUGH COUNCIL HOUSEHOLD SUPPORT GRANT We received £30,000 to distribute to clients during October 2023 to March 2024. This was used to purchase food, fresh food vouchers and energy top ups. Page 17of 17