THE ONE FEEDS TWO FOUNDATION Registered Charlty number: 1153474 TRUSTEES, REPORT AND UNAUDITED ACCOUNTS 30 April 2023
THE ONE FEEDS TWO FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 30APRIL 2023 LEGAL AND ADMINISTRATIVE INFORMATION Registered Charlty Number: 1153474 Trustees: Mark Christophers Owen Burton james Peter Campbell Prlnclpal Offlce: 14 Cawdor Street Nairn Inverness IV12 4QS Accountants: Knight Goodhead Llmlted 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA Bankers.. Virgin Money 14 Cawdor Street Nairn IV12 4QS
THE ONE FEEDS TWO FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 30 April 2023 {continued) The trustee5 present their report and unaudited accounts for the year ended 30 April 2023. The accounts have been prepared in accordante with the actounting policies set out in note I to the accounts and comply with the charity's governing document, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021. the Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth FRS 102, and the Charities Act 2011. STRUCTURE, GOVERNANCE AND MANAGEMENT The One Feeds Two Foundation is governed by the constitution adopted on 20 Au8USt 2013. It was established as a Charitable Incorporated Or8anisation on 20 August 2013. The Charity'5 re815tration number is 1153474. The trustees who served durin8 the year were.. Mark Christophers Owen Burton james Peter Campbell The trustees may appoinl additional truslees as and when ihe need arises and any training needs are assessed when necessary. OBJEcfivE5 The objective of the Charity is that of the prevention or relief of poverty by providing food and a means to an education Ithrough contractors operating grassroots projects1 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 thi5 need. The CIO ha5 Set up a wholly owned trading subsidiary. One Feeds Two Limited for the purpose of licensin8 the charity's brands to businesses in return for providing 5choo15 meals to the world'5 poorest children. RISK ASSESSMENT The trustees have undertaken a review of the risks to which the charity is exposed. and e5tabli5hed Sy5tem5 to manage these risks.
THE ONE FEEDS TWO FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 30 April 2023 {continued) AcTIVlEs ANO ACHIEVEMETr¥rs Meal Oonations One Feeds Two's partners reported their 23.000.01hh school meal in total towards the end of the period. Over this period they have reported 5.150.498 school meals, or the equivalent of providing daily school meal for 25,752 thildTen for the COUTse of a school year. Food Company Partnerships We continued our fruiiful partnerships with COOK. Mindful Chef. Epic Restaurants Itrading as Rola Walal, Eventist Group, Oltys Snacks and The Good Market Companv. Two of our partners achieved si8nificant milestones durin8 the period Imindful Chef - I5.500,C)0 and COOK - 3,5LIJ,000 school mea151. 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. We launched an exciting new partnership with Rick Stein Itrading as Stein Trading Ltd and Seafood Tradin8 Ltd), visitin8 their team and facilities in Padstow, Cornwall in September 2022. We also finished our financial year with signing a new partnership with Total Food Control Ltd (Trading as Lollipop) an innovative online recipe platform. We farewelled our partner, Healthy Yummies, who sadly went into administration. Internatlonal Expansion Our USA presence, via One Feeds Two USA. sprun8 back io life followin8 the COVID lockdowns of 2020 and 2021. One Feeds Two USA added Naansense to their list of partners. We chose not to charBe 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 bv cenlral operations from supporting the USA team.
THE ONE FEEDS TWO FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 30April 2023 (continued) Distribution Partner5 Through this period we focused our financial support on our primary distribution partner. This has assisted them in their efforts to Scale their operations and to keep the cost of the school meals reasonably contained during o period, particularly when considering the level of global inflation. This year saw a welcome return to 5chool-based feeding following the COVID pandemic when our distribution partners pivoted their entire operations from bein8 school-based feeding programmes to being able to feed the students who were forced to do home learning. Operational Costs The Foundation has continued io operale with the Truslees volunteerin8 their time on a pro bono basis. It is recognised that as the organisation grows we will need to keep this under review. Lookin8 Forward Our intention is to partner with more Food Companies throughout the UK and USA to increase the volume of school mea15 that our partnerships can fund. The trustees intend to conduct a review of our strateBy and operations has we head into our second decade. FINANCIAL REVIEW The charity made a surplus for the year of £59,26212022: £69,629) which was made up of a surplus of £48.55512022.' surplus £83,940) related to unrestrirted funds and a surplus of £10,707 12022: deficit £14.3111 from restricted funds. The year end restricted funds balance of £12.292 12022.. £1,585) represents unspent income in the meal donations fund. At the balance sheet date total funds were £212,63612022.' £153,374). 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 fund5 were £2CQ,344 which is in exces5 of the reserves policy.
THE ONE FEEDS TWO FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 30Aprll 2022 {contlnued) STATEMENT OF TRUSTEES RESPONSIBILMES The trustees are responsible for preparing the Trustees Annual Report and the accounts in accordance with applicable law and United Kingdom Atcounting Standards Iunited Kingdom Generally Atcepted Accounting Practice). The law applicable to charities in England and Wale5 requires the trustees to prepare account5 for each rinancial 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 accountin8 policies and then apply them consistentlv.. observe the methods and princlples in the Charities SORP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followetl, subject to any material departures disclosed and explained in the accounts, and prepare the accounts on the goln8 concern basis unless It Is inappropriate to presume that the charltv will continue in operation. The trustees are responsible for keepin8 sufficient accounting records that disc105e 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.. 0812812024
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 year ended 30 April 2023. 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 Chartties Act 2011. I report in respect of my examination of the chartty'5 financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followe(1311 the applicable Directions Biven by the Charity Commission under section 1451511bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Slnce the charity's gross income eyceeded £250,Ci)O your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examinatlon. I confirm that no matters have come to my attentlon In connectlon with the examination giving me cause lo believe that in any material respect.. 11 accountlng records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 21 the financial statements do not accord with those record5; or 31 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 anv requirement that the accounts give a true and fair view which 15 not a matter considered as part of an intlependent 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 financi31 statement5 to be reached. CJ GOODHEAD FCA Knight Goodhead Limited 7 Bournemouth Road Chandler's Ford Ea5tleigh Hampshire, S053 3DA Dated.. 0812812024
THE ONE FEEDS TWO FOUNDATION STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 30 April 2023 Ilncludin8 Income and Expenditure Account) Restricted Unrestricted funds funds Total 2023 Total 2022 Notes INCOME Charitable activites 261.104 51,837 312,941 360,058 TOTAL INCOME 261.104 51.837 312.941 360,058 EXPENDITURE Charitable activities 250.397 3,282 253,679 290,429 TOTAL EXPENDITURE 250.397 3.282 253,679 290,429 NET INCOME FOR THE YEAR 10,707 48,555 59,262 69,629 FUNDS BALANCE AT30 APRIL 2022 1,585 151.789 153,374 83,745 FUND BALANCE AT 30 APRIL 2023 12,292 200,344 212,636 153,374 The Statement of Financial Activities includes all gains an(1 losses reco8nised in the year. All income and expenditure derSves from continuing activities.
THE ONE FEEDS TWO FOUNDATION BALANCE SHEET AT 30 April 2023 Notes 2023 2022 FIXED ASSETS Intangible assets Tangible assets Investments 350 950 351 951 CURRENT ASSETS Debtors Cash at bank and in hand 149,177 157.544 157,170 101,308 306,721 258,478 CREDITORS.. amounts falling due within one year io 194.4361 1106,0551 212,285 152,423 NET ASSETS 212,636 153,374 FUNDS Restricted funds Unrestricted funds li li 12,292 200,344 1,585 151,789 TOTAL FUNDS 12 212.636 153,374 Approved by the board of trustees on and signed on its behalf bv 0812812024 Owen Burton Trustee
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 ACCOUNTING POLICIES al Accountin8 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 IFRS 1021. the Charities, Statement of Recommended Practite applicable to charitie5 preparin8 their actounts in accordance with FRS 102, and the Charities Act 2011. bl Income All income is included in the Statement of Financial Activities when the charity 15 unconditionally entitled to the income and the amount tan be quantified with reasonable accuraey. Donations and grants receivable are recognised in the Statement Of Financial Artivity in the year in which they are receivable. cl Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the cate80ry. Expenditure is not netted off against relating income and is shown inclusive of VAT which cannot be retlaimed. dl Fund accounting Funds held by the charrty are either: Unrestricted general funds Funds which can be used in accordance with the charitable objects at the discretion of the trustees. Funds that tan only be used for particular restricted purposes within the objects of the charity. Reslrittions arise when specified by the donor or when funds are r3ised for a particular restricted purpose. Restricted funds el Intangible assets Trademarks are written off in equal annual in5talments over their estimated useful etonomit life of ten years. The investment in shares held in the trJding subsidiary is stated at cost. fj 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 £l(KJ. Depreciation is provided so as to wrfte off the cost of the fixed assets, less their residual value, over their estimated useful live5, at the following rate5- Website Computer equipment 50% straight line 20%- 50% straight line
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 (continued) 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. INCOME Restrirted Unre5tri(ted tunds funds Total 1023 Total 2022 Donations Management fees 261.104 261,104 51,837 312,941 271,725 88,333 360,058 51,837 51,837 261,104 CHARITABLE ACTIVITIES Restrkted Unrestrorted funds Total 2023 Total 2022 Costs dlrectly ollocoted to octivities.. Grants 250,397 250,397 286,036 Support costs.. Computer and webslte costs Subscriptions 8ank charges and interest Travel Accountancy and independent examination Amortisation Advertising 360 348 24 360 348 24 360 418 22 1.950 1,950 600 1,620 600 1,374 290,429 250,397 3,282 253,679 Included within accountancy and indepen(lent examination are amounts due to the independent examiners of £1,30012022: £1,150) for completing the independent examination. io
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 (continued) STAFF COSTS 2023 2022 Wages and salaries Social security costs No employees received emoluments over £60,0 during the current or prior years. No kev management personnel have received any remuneration in the current year12022.' £nill. Neither the tru51ees, nor any per50n5 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 012022: 01. INTANGIBLE ASSETS Trademark5 COST At beginning and end of year 6,000 DEPRECIATION At beginning of year Charge for year At end of year 5,050 600 5,650 NET BOOK VALUE At end of year At be8innin8 of year 350 950 TANGIBLE ASSETS Webslte Computer costs equlpment Total COST At beginning and end of year 6.075 1,201 7.276 DEPRECIATION At beginning anil end of year 6,075 1,201 7,276 NE[ BOOK VALUE At end of year At beginning of year li
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 (continued) INVESTMENTS Total Investment in subsidiory undertaking held ot historic cost At beginning and at end of year DEBTORS 2023 2022 Amounts owed from subsidiary undertakings Prepayments and accrued income 56.272 92,905 149,177 81,240 75,930 157,170 10 CREDITORS.. amount5 falling due within one year 2023 2022 Accruals 94,436 94,436 106,055 106,055 11 FUNDS Balance atlmay 2022 Balanc• at 30 Apr 2023 Incomè Empendlture RESTRICTED FUNDS Meal donations fund 1,585 261,104 1250,3971 12,292 UNRESTRICTED FUNDS General fund 151,789 51,837 13,2821 200,344 TOTAL 153.374 312.941 1253,6791 212,637 12
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 (continued) li FUNDS lcontinuedl PRIOR YEAR COMPARATIVE Balance Balance atlmay at 30 Apr 2021 Intomè ExpÈndlturè 2022 RESTRICTED FUNDS Meal donations fund 15,896 271,725 1286,0361 1,585 UNRESTRICTED FUNDS General fund 67,849 88,333 14,3931 151,789 TOTAL 83,745 360,058 1290,4291 153,374 Meal donotionsfund The meal donations fund includes donalions received from participatin8 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 YEAR ENDED 30 April 2023 (continued) 12 NE[ ASSETS BY FUND 2023 Restricted Unrestrlcted funds funds Total 2023 Intangible assets Tangible assets Investments Current assets Current liabilities 350 350 103,638 191,3461 203,083 13,0901 306,721 194,4361 TOTAL ASSETS 12,292 200,344 212,636 NET ASSETS BY FUND 2022 Re5trirted Unre5trirted funds funds Total 2022 Intangible assels Tangible assets Investments Current assets Current liabilities 950 950 102,120 1100,5351 154,773 256,893 15,5201 1106,0551 TOTAL ASSETS 1,585 150,205 151,789 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 profrts to the One Feeds Two Foundation for use towards its charitable objectives. During the year One Feeds Two Limited made donations amounting to £254,68612022- £271,295) to the One Feeds Two Foundation. and also paid management charges of £51,83712022.' £88.3331, which is the portion of donations that are for covering overheads. At the balance sheet date, the charity was owed £56,272,12022.. £81,240) from One Feeds Two Limited. 14
THE ONE FEEDS TWO FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 April 2023 (continued) 14 COMPARATIVE STATEMENT OF FINANCIAL AcfiviTIES Ilncluding Income and Expenditure Account) Restricted Unrestrlrted funds funds Total 2022 INCOME Charitable activites 271,725 88,333 360,058 TOTAL INCOME 271.725 88,333 360,058 EXPENDITURE Charitable activities 286.036 4,393 290,429 TOTAL EXPENDITURE 286,036 4,393 290,429 NET INCOME FOR THE YEAR 114,3111 83,940 69,629 FUND BALANCE AT 30 APRIL 2021 15,896 67,849 83,745 FUND BALANCE AT 30 APRIL 2022 1,585 151,789 153,374 15