2023-03-31-accounts

WAVENEY FOODBANK (a company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE 12 MONTHS ENDED 31 MARCH 2023

CONTENTS

	Page
Company Information	2
Report of the Directors	3
Report of the Independent Examiner	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8-9

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WAVENEY FOODBANK

(a company limited by guarantee)

COMPANY INFORMATION

Company Number 08283316 Charity Number 1151679 Registered Office Unit 9B, Fortress Close Brome Airfield Industrial Estate Brome Eye, IP23 7HN Directors Mrs. Gina Cole (Chair) Rev Pam Bayliss, Resigned May 2022 Mrs. Caroline Blacker Mrs. Kamena Dorling Mrs. Gillian Margaret Frostick Mr. Kevin Gunn Rev Eleanor Goodison Mr. David Wells Treasurer Mr. David Wells Bankers Lloyds Bank Diss PO Box 1000 Andover, BX1 1LT Independent Examiner Mr. Graham Sidle Five Gables The Ling Wortham IP22 1ST

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(a company limited by guarantee)

WAVENEY FOODBANK

REPORT OF THE DIRECTORS

The directors submit their report and the financial statements for the 12 months ended 31 March 2023. The company is governed by its Memorandum & Articles of Association dated 1 November 2012, is limited by guarantee, does not have a share capital and is registered as a charity.

Objectives and activities

The principal object of the charity is to relieve persons in the United Kingdom and elsewhere in the world who are in conditions of need, hardship or distress. Currently the principal activity to achieve this is to continue to assist with the provision of food parcels to those in need in Diss, Eye, Harleston, Long Stratton, Bungay, Beccles, Halesworth, and the local area.

By means of both co-operation with Citizens Advice Bureau, local doctors, social workers and other carers, the charity can identify those in need. Food items are donated by the public and businesses and sorted by volunteers at the charity’s rented warehouse ready for distribution at various local collection points. The charity also supplies food to lunch and school breakfast clubs.

Results and state of affairs

The financial statements set out on pages 6 and 7 show the results for the 12 months ended 31 March 2023 and reflect the state of the company’s affairs at that date. These figures have been produced on an income and expenditure basis.

Directors

Under the company’s articles there can be an unlimited number of directors appointed with a minimum of three.

The directors at the date of signing this report are stated on page 2.

Adopted policies

(a) Risk assessment

The directors have considered appropriate risks. The charity is aware of the need to manage health and safety issues within its warehouse and distribution centres for the protection of its volunteers and those receiving the provisions. The charity has appropriate systems in place to manage these risks and has suitable insurance policies.

(b) Investments

.

Cash investments are held in deposit and current accounts at Lloyds bank

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(a company limited by guarantee)

WAVENEY FOODBANK

REPORT OF THE DIRECTORS (continued)

(c) Level of reserves

The directors have considered the amount of reserves needed to maintain its operations. It is considered that a sum equal to twelve months expenditure is a prudent level. On this basis, based on the annual expenditure budget, a sum of £,80,000 is considered appropriate. The charity is in a strong position financially with increased cash reserves to meet not just existing needs but also the extra demands presented by the economic climate. A strategic plan has been approved by the trustees for the next three years within which our cash reserves will be reduced. In addition a planned move to new premises allowing the charity to react to future needs, will require an investment, which will come from reserves

Statement of directors’ responsibilities

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company for that period. In preparing those financial statements the directors are required to

• a) Select suitable accounting policies and then apply them consistently

• b) Observe the methods and principles in the Charities SORP

• c) Make judgements and estimates that are reasonable and prudent

• d) Prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the company will continue in business, and

• e) State whether the Financial Reporting Standard for Smaller Entities has been followed, subject to any material departures disclosed and explained in the accounts.

The directors are responsible for maintaining proper accounting records which with reasonable accuracy at any time disclose the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for their prevention and detection of fraud and other irregularities.

This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies, was approved by the directors on 15[th] July 2023 and signed on their behalf by: -

Mrs. Gina Cole, Chair

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WAVENEY FOODBANK

(a company limited by guarantee)

REPORT OF THE INDEPENDENT EXAMINER

I report on the accounts of Waveney Foodbank for the 12 months ended 31 March 2023.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to

• a) Examine the accounts under section 145 of the 2011 Act

• b) To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and

• c) To state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

1. Which gives me reasonable cause to believe that in any material respect the requirements a) To keep accounting records in accordance with section 386 of the Companies Act 2006 and b) To prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met or

2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

Graham Sidle

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			WAVENEY FOODBANK	WAVENEY FOODBANK	WAVENEY FOODBANK	WAVENEY FOODBANK
	(a companylimited by guarantee)
	STATEMENT OF FINANCIAL ACTIVITIES FOR
		THE 12 MONTHS ENDED 31 MARCH 2023
				Note	2023	2022
INCOMING RESOURCES
Donations and charitablegrants				1, 2	131,888	200,738
TOTAL INCOMING RESOURCES
					131,888	200,738
RESOURCES EXPENDED
Charitable activities:
Fund raisingandpromotional activities					2,627	284
Warehouse and distribution centre					6,448	5,221
Food Purchases					1,679	_
Van and travel expenses					8,702	9,605
Depreciation					8,726	5,455
Profit on sale of vehicle					-1,080	-
TT/ASDA Kitchen Grant				5	-	209
Energysupport fund					852	1,224
Equipment for communitymeals					912	1,615
Salary,pension andpayroll costs					34,793	26,337
					63,659	49,950
Other costs:
Premises					10,563	9,841
Computer, stationary,phone					369	1,639
Sundry					346	343
Training					472	322
Return ofgrant				4		5000
					11,750	17,155
TOTAL RESOURCES EXPENDED					75,409	67,105
NET INCOMING RESOURCES					56,479	133,633
Balance brought forward					342,959	209,326
BALANCE CARRIED FORWARD					399,438	342,959

6

WAVENEY FOODBANK

(a company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2023

Note FIXED ASSETS Van OE70UOY 3 Van YO68NYS 3 Van BX08RZL 3 CURRENT ASSETS Bank Cash Charis Voluntary Norfolk Liabilities falling due within twelve months TOTAL ASSETS RECONCILIATION OF FUNDS Unrestricted funds 7 Restricted funds Vehicles 3 NCF Energy Fund TOTAL FUNDS	2023 2022 24,438 - 12,346 17,455 2,063 4,538
	38,847 21,993
	357,558 318,376 0 14 423 376 2,750 2300
	360,731 321,066
	141 100
	399,437 342,959
	360,590 320,690 38,847 21,993 - 276
	399,437 342,959

The notes on pages 8 and 9 form part of the Financial Statements.

For the 12 months ended 31 March 2023, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts which give a true and fair view of the state of affairs at the year end and of its profit or loss for the financial period then ended and which otherwise comply with the requirements of the Act, so far as applicable to the company.

The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and were approved by the directors on 15[th] July 2023 signed on their behalf by:

Gina Cole

8 WAVENEY FOODBANK

(a company limited by guarantee)

Notes To The Financial Statements

1. In addition to the cash donations and charitable grants, the charity received donated goods of various food items totaling 87,000 Kg

2. No specific grants were received during the year

3. During the financial year ended 31 March 2023 an additional vehicle was purchased and will be depreciated over four years

depreciated	over fouryears	over fouryears
	Van Restricted Fund
	OE70UOY			£
	Purchaseprice Nov 2022			25,580
	Depreciation			1,142
	Book value 1st April 2023			24,438
	BX08RZL			£
	Book value 1st April 2022			4,538
	Depreciation			2,475
	Book value 1st April 2023			2,063
	YO68NYS			£
	Bookvalue 1st April 2022			17,455
	Depreciation			5,109
	Book value 1st April 2023			12,346

1. In 2021-22 the Foodbank returned the £5,000 grant from Suffolk County Council as the charity did not have the facilities to use that grant

2. In 2021-22 the Foodbank used the final £209 from the original £3,765 from a Trussell Trust/Asda Grant for kitchen improvements/community meals

3. Staff

Staff Costs					2023	2022
					£	£
Wages/Salaries					32,428	24,398
Definedpension costs					1,808	1,324
Payroll costs					557	615
Total					34,793	26,337
The number ofpeople employed bythe charityduringtheyear
					2023	2022
					1	1
No employee received remuneration of more than £60,000

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7.Summary of Restricted and Unrestricted Funds

	Balance b/f 1 April 2022	Income	Expenditure	Fund	Balance c/f 31 March 2023
				transfers
	£	£	£	£	£
UNRESTRICTED
General Fund	320,690	106,308	67,487		359,511
RESTRICTED
Sale of asset			1,080 -		1,080 -
Van fund OE70UOY		25,580	1,142		24,438
Van Fund EO13JYA
Van Fund BX08RZL	4,538		2,475		2,063
Van Fund YO68 NYS	17455		5,109		12,346
NCF EnergyFund	276		276		-
	£342,959	131,888	75,409		399,438

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