**THE ONE FEEDS TWO FOUNDATION Registered Charity number: 1153474**
**TRUSTEES' REPORT AND UNAUDITED ACCOUNTS 30 April 2021**
## **THE ONE FEEDS TWO FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 APRIL 2021**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Registered Charity Number:** 1153474
## **Trustees:**
Mark Christophers Owen Burton James Peter Campbell
## **Principal Office:**
14 Cawdor Street Nairn Inverness IV12 4QS
## **Accountants:**
Knight Goodhead Limited 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3DA
## **Bankers:**
Clydesdale Bank 140 High Street Musselburgh EH 21 7DZ
## **THE ONE FEEDS TWO FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 April 2021 (continued)**
The trustees present their report and unaudited accounts for the period ended 30 April 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, and the Charities Act 2011.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The One Feeds Two Foundation is governed by the constitution adopted on 20 August 2013. It was established as a Charitable Incorporated Organisation on 20 August 2013. The Charity's registration number is 1153474.
The trustees who served during the period were:
Mark Christophers Owen Burton James Peter Campbell
The trustees may appoint additional trustees as and when the need arises and any training needs are assessed when necessary.
## **OBJECTIVES**
The objective of the charity is that of the prevention or relief of poverty by providing food and a means to an education (through contractors operating grassroots projects) for children suffering from extreme poverty as a way to enable such children to work their way out of poverty.
The charity will also serve this purpose by raising awareness of child hunger and extreme poverty and encouraging the provision of support to relieve this need.
The CIO has set up a wholly owned trading subsidiary, One Feeds Two Limited for the purpose of licensing the charity's brands to businesses in return for providing schools meals to the world’s poorest children.
## **RISK ASSESSMENT**
The trustees have undertaken a review of the risks to which the charity is exposed, and established systems to manage these risks.
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## **THE ONE FEEDS TWO FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 April 2021 (continued)**
## **ACTIVITIES AND ACHIEVEMENTS**
## **Meal Donations**
One Feeds Two’s partners have now donated their 13,000,000th school meal in total towards the end of the period. Over this period they have donated 5,341,761 school meals, or the equivalent of providing a daily school meal for 26,709 children.
## **Food Company Partnerships**
This period was notable for the impact of the global COVID-19 pandemic. The ensuing public safety restrictions had varying impacts on our partners, depending on their business models (restaurants and inperson concepts suffered whilst online retailers enjoyed tailwinds).
We continued our fruitful partnerships with COOK, Mindful Chef, Rola Wala (trading as Epic Restaurants, Healthy Yummies and The Good Market Company.
A number of our partners achieved significant milestones during the period (Mindful Chef - 5,000,000 and COOK - 2,500,000 school meals). To coincide with these milestones we did presentations to staff at COOK and Mindful Chef to thank them for their generous support and to discuss the transformative impact that the school meals have on the local communities.
Understandably, a number of businesses paused their discussions on partnership with us as they waited to determine what the impact of the lockdowns might be. Incredibly the lockdowns also seemed to give some business leaders an opportunity to discover One Feeds Two and to act on their desire to incorporate a new charitable dimension to their business.
We launched new partnerships with Nomad Cooks, Restaurant Kits, Olly's Snacks, Dough & Glory, Root Kitchen, Rogue and Mins Vitamin Gummies (Trading as JNCo). We were touched that business interest in One Feeds Two sustained and grew during such a turbulent period for food businesses in the UK and USA.
## **International Expansion**
Our USA presence, via One Feeds Two USA, had a very quiet period given that their partners were primarily restaurant concepts that essentially ceased operations due to the lockdowns.
We chose not to charge the USA entity a management fee to reflect the intention to leave as many funds as possible for developing the concept locally and the negligible increase in operating costs incurred by central operations from supporting the USA team.
2
## **THE ONE FEEDS TWO FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 April 2021 (continued)**
## **Distribution Partners**
Through this period we have continued to support two distribution partners allowing us to offer the One Feeds Two concept at multiple price points.
These distribution partners pivoted their entire operations from being school-based feeding programmes to being able to feed the students who were forced to do home learning due to the COVID pandemic.
In addition, our distribution partners found that many of their usual fundraising activities were not possible during the lockdown, making One Feeds Two's contribution all the more valuable.
Through this period we invested sustained efforts to build relationships with other distribution partners as we endeavour to stay abreast of best practice and the broader school feeding landscape.
## **Operational Costs**
The Foundation has continued to operate with the Trustees volunteering on a pro bono basis. It is recognised that as the organisation grows we will need to keep this under review.
## **Looking Forward**
Our intention is to partner with more Food Companies throughout the UK and USA to increase the volume of school meals that our partnerships can fund.
## **FINANCIAL REVIEW**
The charity made a surplus for the period of £41,903 (2019: deficit of £6,855) which was made up of a surplus of £31,358 related to unrestricted funds and a surplus of £10,545 from restricted funds. The period end restricted funds balance of £15,896 represents unspent income in the meal donations fund. At the balance sheet date total funds were £83,745 (2019: £41,842).
## **RESERVES POLICY**
It is the charity's policy to retain reserves sufficient to cover the equivalent of three months of overhead costs. At the balance sheet date the unrestricted funds were £67,849 which is in excess of the reserves policy.
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## **THE ONE FEEDS TWO FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 April 2021 (continued)**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees are responsible for preparing the Trustees Annual Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts, and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity SORP and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board of trustees
**Owen Burton** Trustee
Dated: **30 November 2022**
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## **INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE ONE FEEDS TWO FOUNDATION**
I report to the trustees on my examination of the financial statements of One Feeds Two Foundation for the period ended 30 April 2021.
## **RESPONSIBILITIES AND BASIS 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.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. 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.
## **INDEPENDENT EXAMINER'S STATEMENT**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1) 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; or
- 3) the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
**C J GOODHEAD FCA** Knight Goodhead Limited Dated:
**30 November 2022** 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire, SO53 3DA
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## **THE ONE FEEDS TWO FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 April 2021**
(Including Income and Expenditure Account)
|**Notes**
INCOME
Donations
3
**TOTAL INCOME**
EXPENDITURE
Charitable activities
4
**TOTAL EXPENDITURE**
NET INCOME / (EXPENDITURE) FOR THE PERIOD
FUNDS BALANCE AT 1 DECEMBER 2019
**FUND BALANCE AT 30 APRIL 2021**|**Total**
**Total**
**17 months**
**12 months**
**Restricted Unrestricted**
**ended**
**ended**
**funds**
**funds**
**30 Apr 2021 30 Nov 2019**
£
£
£
£
363,756
36,368
400,124
157,994
363,756
36,368
400,124
157,994
353,211
5,010
358,221
164,849
353,211
5,010
358,221
164,849
10,545
31,358
41,903
(6,855)
5,351
36,491
41,842
48,697
15,896
67,849
83,745
41,842|
|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities.
6
## **THE ONE FEEDS TWO FOUNDATION**
## **COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2019**
(Including Income and Expenditure Account)
|INCOME
Donations
**TOTAL INCOME**
EXPENDITURE
Charitable activities
**TOTAL EXPENDITURE**
NET INCOME / (EXPENDITURE) FOR THE YEAR
FUNDS BALANCE AT 1 DECEMBER 2018
**FUND BALANCE AT 30 NOVEMBER 2019**|**Restricted**
**Unrestricted**
**Total**
**funds**
**funds**
**2019**
£
£
£
130,004
27,990
157,994
130,004
27,990
157,994
154,668
10,181
164,849
154,668
10,181
164,849
(24,664)
17,809
(6,855)
30,015
18,682
48,697
5,351
36,491
41,842|
|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
7
## **THE ONE FEEDS TWO FOUNDATION**
## **BALANCE SHEET AT 30 April 2021**
|**Notes**
FIXED ASSETS
Intangible assets
6
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
10
NET ASSETS
FUNDS
Restricted funds
11
Unrestricted funds
11
TOTAL FUNDS
12|**30 Apr 2021**
**30 Nov 2019**
£
£
£
£
1,550
2,400
-
-
1
1
1,551
2,401
36,446
41,705
49,648
72,142
86,094
113,847
(3,900)
(74,406)
82,194
39,441
83,745
41,842
15,896
5,351
67,849
36,491
83,745
41,842|
|---|---|
Approved by the board of trustees on and signed on its behalf by
**James Peter Campbell** Trustee
**30 November 2022**
8
## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021**
## 1 ACCOUNTING POLICIES
- a) Accounting convention
The accounts have been prepared under the historical cost convention, in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, and the Charities Act 2011.
## b) Income
All income is included in the Statement of Financial Activities when the charity is unconditionally entitled to the income and the amount can be quantified with reasonable accuracy.
Donations and grants receivable are recognised in the Statement Of Financial Activity in the period in which they are receivable.
## c) Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is not netted off against relating income and is shown inclusive of VAT which cannot be reclaimed.
## d) Fund accounting
Funds held by the charity are either: Unrestricted general funds Funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds
Funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.
## e) Intangible assets
Trademarks are written off in equal annual instalments over their estimated useful economic life of ten years.
The investment in shares held in the trading subsidiary is stated at cost.
## f) Tangible assets
Fixed assets are stated in the balance sheet at cost less depreciation. Assets are only capitalised when purchase cost is equal to or greater than £100.
Depreciation is provided so as to write off the cost of the fixed assets, less their residual value, over their estimated useful lives, at the following rates:
Website 50% straight line Computer equipment 20% - 50% straight line
9
## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021 (continued)**
- 2 LEGAL STATUS
The charity is an charitable incorporated organisation and registered with the Charity Commission in England and Wales on 20 August 2013. The charity is a public benefit entity.
|3
INCOME
Donations
Grant income
Management fees
4
CHARITABLE ACTIVITIES
_Costs directly allocated to activities:_
Grants
_Support costs:_
Computer and website costs
Travel
Books and journals
Bank charges and interest
Accountancy and independent examination
Amortisation
Advertising|**Total**
**Total**
**17 months**
**12 months**
**Restricted Unrestricted**
**ended**
**ended**
**funds**
**funds**
**30 Apr 2021 30 Nov 2019**
£
£
£
£
363,756
-
363,756
130,004
-
-
-
2,500
-
36,368
36,368
25,490
363,756
36,368
400,124
157,994
**Total**
**Total**
**17 months**
**12 months**
**Restricted Unrestricted**
**ended**
**ended**
**funds**
**funds**
**30 Apr 2021 30 Nov 2019**
£
£
£
£
353,211
-
353,211
154,668
-
530
530
1,260
-
-
-
6,445
-
365
365
480
-
160
160
256
-
1,620
1,620
1,140
-
850
850
600
-
1,485
1,485
-
353,211
5,010
358,221
164,849|
|---|---|
Included within accountancy and independent examination are amounts due to the independent examiners of £1,150 (2019: £1,140) for completing the independent examination.
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## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021 (continued)**
|5
STAFF COSTS
Wages and salaries
Social security costs|**17 months**
**12 months**
**ended**
**ended**
**30 Apr 2021 30 Nov 2019**
£
£
-
-
-
-
-
-|
|---|---|
No employees received emoluments over £60,000 during the current or prior periods. No key management personnel have received any remuneration in the current period (2019: £nil).
Neither the trustees, nor any persons connected with them, have received any remuneration or reimbursed expenses in the current or prior years.
The average number of employees during the year was 0 (2019: 0).
|6
INTANGIBLE ASSETS
COST
At beginning and end of period
DEPRECIATION
At beginning of period
Charge for year
At end of period
NET BOOK VALUE
At end of period
At beginning of period
7
TANGIBLE ASSETS
COST
At beginning and end of period
DEPRECIATION
At beginning and end of period
NET BOOK VALUE
At end of period
At beginning of period|**Trademarks**
£
6,000
3,600
850
4,450
1,550
2,400
**Website**
**Computer**
**costs**
**equipment**
**Total**
£
£
£
6,075
1,201
7,276
6,075
1,201
7,276|
|---|---|
||-
-
-
-
-
-|
11
## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021 (continued)**
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|8|INVESTMENTS|Total|
|£|
|Investment in subsidiary undertaking held at historic cost|
|At beginning and at end of period|1|
|9|DEBTORS|30 Apr 2021|30 Nov 2019|
|£|£|
|Tax reclaimable|-|862|
|Amounts owed from subsidiary undertakings|15,774|35,091|
|Prepayments and accrued income|20,672|5,752|
|36,446|41,705|
|10|CREDITORS: amounts falling due within one year|30 Apr 2021|30 Nov 2019|
|£|£|
|Accruals|3,900|74,406|
|Other creditors|-|-|
|3,900|74,406|
|11|FUNDS|Balance|Balance|
|at 1 Dec|at 30 Apr|
|2019|Income|Expenditure|2021|
|£|£|£|£|
|RESTRICTED FUNDS|
|Meal donations fund|5,351|363,756|(353,211)|15,896|
|UNRESTRICTED FUNDS|
|General fund|36,491|36,368|(5,010)|67,849|
|TOTAL|41,842|400,124|(358,221)|83,745|
**----- End of picture text -----**
12
## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021 (continued)**
- 11 FUNDS (continued)
|PRIOR YEAR COMPARATIVE
RESTRICTED FUNDS
Meal donations fund
UNRESTRICTED FUNDS
General fund
TOTAL|**Balance**
**Balance**
**at 1 Dec**
**at 30 Nov**
**2018**
**Income**
**Expenditure**
**2019**
£
£
£
£
30,015
130,004
(154,668)
5,351
18,682
27,990
(10,181)
36,491
48,697
157,994
(164,849)
41,842|
|---|---|
## _Meal donations fund_
The meal donations fund includes donations received from participating partners in relation to meals sold. The funds are used to issue grants to contractors operating grassroots projects in support of the charitable objectives.
13
## **THE ONE FEEDS TWO FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30 April 2021 (continued)**
|12
NET ASSETS BY FUND 2021
Intangible assets
Tangible assets
Investments
Current assets
Current liabilities
TOTAL ASSETS
NET ASSETS BY FUND 2019
Intangible assets
Tangible assets
Investments
Current assets
Current liabilities
TOTAL ASSETS|**Restricted**
**Unrestricted**
**Total**
**funds**
**funds**
**30 Apr 2021**
£
£
£
-
1,550
1,550
-
-
-
-
1
1
15,896
70,198
86,094
-
(3,900)
(3,900)
15,896
67,849
83,745
**Restricted**
**Unrestricted**
**Total**
**funds**
**funds 30 Nov 2019**
£
£
£
-
2,400
2,400
-
-
-
-
1
1
5,351
108,496
113,847
-
(74,406)
(74,406)
5,351
36,491
41,842|
|---|---|
## 13 RELATED PARTY TRANSACTIONS
One Feeds Two Limited is a wholly owned subsidiary of the One Feeds Two Foundation.
One Feeds Two Limited donates all its profits to the One Feeds Two Foundation for use towards its charitable objectives.
During the period One Feeds Two Limited made donations amounting to £363,516 (2019: £116,864) to the One Feeds Two Foundation, and also paid management charges of £36,368 (2019: £25,490), which is the portion of donations that are for covering overheads.
At the balance sheet date, the charity was owed £15,774 (2019: £35,091) from One Feeds Two Limited.
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