Charity Registration No. 1155783 SOFEA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
SOFEA LEGAL AND ADMINISTRATIVE INFORMATION Trustses M Broadway A Camoenie J Dyson OBE R Ellis S Jamshidifard J Mitchell A Mylvaganam RNiChoOo B Shuttleworth A Thomson BThreadgold E Vyse Charlty numbor 1155783 R•gl•ternd offlco Unlt1E Trident Business Park Didcot Oxfordshire OX117HJ Audltor Gravlta Audit Oxford LLP First Floor, Park Central 4041 Park End Street Oxford OX1 1JD Bank•r• cOperatIve Bank Business Customer Sèr4lces PO Box 250 Skelmersdale WN8 6VIT
SOFEA CONTENTS Pago Trusteès. report 1- 10 Statement of trustees, responslbililies 11 Independent auditols report 12-14 Slalemenl of financi81 activities 15 Balance sheet 16 Statement of cash flows 17 Notes to the Ilnancial statements 18-29
SOFEA TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2025 The trusiees present their report and financial slalements for the year ended 30 June 2025. The financial statements have been prepared in accordanGe with the accounting policies sel out in note 1 to the financial statements and comply with the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" las amended for a¢counling periods commencing from 1 January 20191 Objeclives and activities SOFEA supports disempowered young people al the key transition point into adulthood, providing the tools they need to lead successful lives through making a positive contributlon to their community. Qur p.ducation and employability programmes Seek to address the problems that too many youno people leave school ill equipped for their future, and too many people face barriers to securing meaningful employment. Our wellbeing programmes seek to address th8 problem that too many people suffer from avoidabl8 physical and mental health condltions and are often isolated and lonely. However. many people in our communilles are struggling now, and so we seek to mltigate the needs of people faelng POV8rty. inequality and Inequlty by helping them secure thelr basic needs such as lood and access lo the digltal world. People on our educatlon, employability and wellbeing programmes not only galn work experience and ski118, but through their participation in our social value projects they help others by- the redistribution of food, cooking for others, refurbishing digital dovices and are able to engage and connect with others, find a purp058 and develop agency over their own futures. This is a strengths based approach, encouraging people to be empowered and for them to make a net positive onlribulian to their communities. And so." The charilys objects are Ihe rellef of poverty and need in partlcular by the provision of food and Ihe 8dvanc8ment of education and training. the rnlief of unemployment in particu18rby providing training and r8sources for those seeking work and by working with gmployars to address recruitment and un8mploymenl issues. Th8r8 h8s been no change in th8S8 during the yg8r. The maln actlvltles undertaken In relatlon to Ihose purpose8 durlng the year. SOFEA enables disempowered young people, at the key transition point into adulthood, with the tools they need to lead successful lives through making positive contributions to Iheir communities. 1.Education programmes for young people aged between 14 and 25. with three strands.. An employabilily pathway building from yrk experience to full time employment, through our purpose projects including our Fareshare operation. Community Larders, Nourish and Flourish and Getting Oxfordshire Online prograrnme. A study programme building from entry level to level three qualifications, and including GCSES in Maths and English. A wellbeing programme including strategies for behavloural change, mental health support. physical exercise, healthy relationships, gxtra curricular activities and working with families. 2.Employability programme5 for those most marginali5ed in the labour market.. Programmes designed to develop the generic employability skills of communication, teamwork and self management, with additional practical and behavioural support, in order to better equip people of Bll age5 who are marginalised in the labour market lo gel and relain work.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Liaising with local employ8rs to support them in recruiting people from our employabilty programmes. 3.Menlal health, wellbeing and social prescrtbing support= Non clinical programmes of support for people of all ages, including children and young people aged up lo 18 and Social Prescribing for all ages. 4.Inierrfention Programmes for young people Working with Thames Valley Pollce's Violence Reduction Unit, to provide high impact mentoring which reduces the risk of exclusion and engages young people. 5.Provision of fd to partn8r organisations Worklng wlth our partners al Fareshare UK. SOFEA redlslrlbutes surplus food to approximatety 150 not-for-profit organisations So1n9 vulnerablè people. 6.Community Larders Using surplus food, SOFEA runs 35 Communlly Larders with 4,000 members, providing lood to individuals and famili85 for a subscripts'on fee. The convening power of food brings people to a community selts'ng once a week, at which they are able to access a range of other service5, such as digital literacy, debt advice. social prescribing, cooking skills and employment support. 7.Getling Oxfordshire Online Worklng with partners, Aspire and Bicester Gen, we have refurbished and distributed over 5,000 digital devices to those in need, enabling them to participate in the digital world more effectively. We have led Oxfordshire's digital inclusion netsvork, seeking to ensure that digltal support is available to those who need it acr05S the County. 8. Nourish and Flourish Working in our kitchen lo help redu food waste and cook nutritious meals for the community. in the process leaming the 5kllls needed to progress into the hospitality induslry.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Activities to further the purpose for th• public benefit Our education, employability and wellbeing programmes are all focused on working with disadvantaged and disempoweTed people. Programmes are open to all and an a55essmenl is made a5 to whether SOFEA can meet the needs of the individual. Thi5 means th81 our education programmes are primarily focused on working with young people who have not successfully progressed through mainstream education, giving them an opportunity to develop knowledge, skills and understanding. As a result participants gain agency that enables them to transform their lives, vthich in tum enables them to make a net coniribution to their community. Similarly our employability and wellbeing programmes are designed to enable people to overcome the barriers they face, enabling them to transform their lives and move forward productively. The WOTk we have done for the Violence Reduction Unit. working with Thames Valley Police, has reduced the likelihood of young people being excluded from school. School exclusion has Significant negative consequences for the indivldual and their community, reducing the incidence of exdusion leads to large public benefit. Our food programmés enable people in need lo b8n8fit from the provision of high quality surplus food, reducing their food insecurity and providing access to other services. We distribute food through two channels, the first - to other not-for-profit organisations to support their beneficiaries, thereby providing publlc b8nefil to a wider group of people. We also supply food through our Community Larders to individuals and faTnili85, thi8 iq npp.rAtAd 88 8 mp.mhftrship scheme, providing basket of gToceTies, fresh produce and household goodsfor 8 small siibscriplion, WA prcjvide free membershlps whe Individuals or families are not able to afford the fee. In order to undertake our activilie8 we have a strong 51aff team, with highly qu8lified individuals and many with lived experience. We inlenlionally employ people who face barriers lo work and who may not b8 successful in applications to other employers. Half our staff face or have faced significant barriers to employment. The Twstees have had regard to the Charity Commission'5 guidance on public benefit in managing the activitie5 of the charity. Short lemi and long terni alms and objectlvos Increase the number of young people who benefit from SOFEA'S hlgh quality support 2. Increase the number and range of opportunities for young people 3. Increase the level of contnbulion of young people to their communltles and society 4, Ensure the organisation is fit for purpose In 2025126 we wlll: Work with local employers to create better pathways for young people Develop the uses of our Nourish and Flourish Community Kitchen Develop the range and breadth of services available through our Community Larders Complete the site move in Milton Keynes Long term strategy and objectlves We will continue to enable people to transfonn their lives through education. employability and wellbeing. We will use the convening power of food to take our expertise from our learning sp8ces out into our communities. The programmes we deliver will be created and tailored for the specific needs in our communities, with an emphasis on early intervention. We will deliver early interventions that are wanted and needed by the communities in which we operate. They will be at a greater scale than now and either paid for by specific contracts for Ihe purpose or by mulliple year awards from larger funders. We will not only deliver these outcomes for our beneficiaries but will strive to be an exemplar for how a well Tun, inclusive and supportive organisalion can deliver them for our staff and volunteers. By building our delivery and intemal successes we will become the leading experts in our field. Nol onty will we deliver great results for our beneficiaries, we will be able lo demonslrale their ongoing success. the benefits we deliver internally and we will be able lo show how Ihe SOFEA approach is bp.ttpr IhAn the traditional way of operating. We will aim to be
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 thought leaders sought out for our opinions and counsel by govemment, academics, the media and olher charities in the field. Key objectives for the next 12 months Build relationships wth up to 12 local employers to create better pathways for young people Develop the uses of our Nourish and Flourish Community Kitchen, to ensure young people leam to cook, the community is included and nutritional education is provided. Develop the range and breadth of services available Ihrough our Community Larders, building on them as places that people wlll go, not just for food Complete the site move in Milton Keynes, in order to double ils Capacity Investigate the possibilltles of expanding and the methods of doing so Stratsglos to achl•vo th• alms and objectlvos In tha futur• The strategies that we deploy ensure that we enable and support peopl8 to make a deep connection with themselves and Iheir community so that they can fulfil thelr potential, these include.. Working with education partners to increase the capacity and range of the provision ¥ offer, so that it is suitable for people who have been disadvantaged or disengaged by other education provlslon. Working with Health partners to ensure that we focus on the physical, mental and emotional wellbeing of the people we work with, so that they are able to lake advantage of the educational opportunities. Our work with Didcol Primary Care Network and Response enable us to provide this SUPPOrt. Developing Community Larders, so that people can meet their basic needs for food, and access a wider range of services and support through the wraparound services provided by our network of partner organisations, such as debt relief, housing support, employability and health support. Working with local authority partners as part of their cost of living responsel anti poverty strategies and accessing funds from the Shared Prosperily Fund to do 80. Partnership with Thames Valley Police, lo ensure that both our food and education programmes are targeted at the people who can most benefit from them, for example by taking referrals from the Police to work with those at risk of becoming involved in the criminal justice system, Developlng both our sites in Milton Keynos and Didcot to provide breadth and depth of services In hlgh quallly aspirational environments. Deepening our r8lationship with Fareshare UK to access mor8 better quallty food and to share our approach to employability viith the rest of the nelwork. Working alongside the Didcot Community Partnership. which we helped to found, to provlde a sulte of services for the community of Didcol, particularly Iocu5ed on wellbeing Working c105ely with local employers on the 'Powerhouse Preapprenticeship, to develop a new approach for young people accessing the labour market for the first time.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Activitlas contributing to the achievement of aims In the year The operations that we undertook in 2024125 trj achieve our organizational aims included.. We have provlded post 16 education programmes in partnership with Milton Keynes College and Activate Leaming for 101 young people (our highest ever number), including English and Maths at GCSE. 95% of young people achieved a grade and 85°k made a positive progression. We have developed our altemative school provision, with approximately 20 young people of school age participating in this programme. Our Employability programmes have worked with over 485 people to provide mentoring, support and work experience to enablè them lo move closér to th8 labour market (more than ever before). Our Wellbeing programmes have worked wlth over 814 people, providing non clinical m8nlal health support and guidance to enable them lo make the first steps towards Iransfomiing their Ilves (three times more than last year). The distribution of approximately 1,966 tonnes of Surplus food has supported more than 150 other not-for-proflt org8nisations, enabling them to provide food for their beneficiaTles, thus enhancing their seNice and reducing their costs. We do this in partnership with our national partners at Fareshare UK. We have developed our Community Larders, rlslng lo 35 larders wlth 4,000 membeT5. For a small subscrlptlon individuals and families have access to a range of good quality food on a weekly basis. We have developed the services that go alongside the provision of food to enable people to transform their lives. The Larders provide focal point in their communities, enabling people to access the support they need from a range of sources. Our 'Getting Oxfordshire Online, programme of providing digital devices to those in digital poverty in order to enable them to participate has, with our partners at Aspire and Bicester Green, redistributed 5,000 devices. Nourish and Flourfsh kitchen. The kitchen uses surplus fiK)d to train young people In a commercial environment and has so far provided over 10,000 meals. We have published our second Impact Report, which is available on our websSte'. www.sofpa.uk.com Contrlbutlon of volunteern Through the y8ar over 800 volunteers have supported us. Approximately 61 volunteers have been regular and frequent, while 743 have provided one or two days each of volunteering throughout the year as part of a corporate volunteering day. We have also provlded many volunteerlng opportunitiés for lob seekers., improvlng their work experience and confidence before reengaglng wilh the labour m8Tk8t. Volunteers have given up their time to provide a great deal of support in funclions such as delivery driving, administration. marketing, logistics support and social media. The roles that volunteers have contributed lo include.. Truslees. Van drivers, Warehouse operatives, Administraliv8 operatives, Fundraising, Marketing, Classroom 5UPPOrt, and table tennis club. We would like to thank all of our volunteers who give up their time to make the organi5alion the vibrant and dynarnic place that it is. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding whichaclivities the charity should undertake.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Achlevements and perfonnance Fundraising activltles Approximalely half our income is raised through contracts for the delivery of programmes such as the education programme, and through sub5CriPtions to our Community Larders and Food redistribution seryice. In 2024125 we contracted the services of one Strategic fundraising manager, with a focus on raising funds through Trusts and Foundations. Our Marketing and Corporate Partnership Manager undertook a range of fundraising activities. Members of the senior team have also played a crucial role in raising funds. In opening our Nourish and Flourish kitchen, we have also begun to hold fundraising dinners on 511e. Young people from our programmes host the evening and cook the food, under the expert guidance of our chef, giving us the opportunity to showcase the work we do. We have worked hard throughout the year to ensure that funds applied for and received meet the strategic needs of the organisations and ils beneficlarles. Dlffer•nu made to benellclarlos The education, training and wellbeing programmes have had a profound effect on the people participating, with many starting a programme at SOFEA in distress and completing the pmgramme wllh Improved confidence, skllls and qualifications to successfully transition into work or further study. A total of nearly 2.000 people (double the 2024 number) have been directly supported through one or more of our education. employsbllily or wellbeing programmes this year. Nearly 4,000 people are members of our Community Larders and several thousand have benefited through the provision of food to other organisalions. 30 st8ff who have faced balerS to their ernployment continue lo receive support related to their leaming difficulties, ment81 health or personal circumstances. 102 young people completed ourstudy Programme, passing over 150 qualiflc3lions including English and Maths GCSE, with a success rale of over 95°A. Over 85% have progressed to educatlon or employmenl, w8 contlnu8 to support the rest to do so. The biggest impact of the training programme however Is In the attitudes and mlndsets of p8rtlClP8nts. They report a 33°h rise in their general wellbelng and anecdotal 8vidence suggests profound change in individuals. We have redistributed close to 2.000 tonnes of food during the year to over 150 organisations Organisations we work with report reduced costs and improved quality of food, enabling them to continue and improve their service to their users. Benefit to wider soclety 2,000 lonnes of food redlslributed, whlch would have gone lo waste, reduclng the envlronmenlal impact. People, especially young people, in the local community have been enabled lo gain employment benefiting themselves and their community as well as providing a workforce in a labour maikel, which remains light. Tens of thousands of the rnost vulnerable and disadvantaged people in the local commUnY have been able to access high quality nutrits'ous food, improving their lives and enablin9 them to participate mora fully in their own communities. Our Community Larder programme has 4,000 members, 85% of whoffl aro on low income and thefore improving their circumstances. The additional membership benefi15 Qf thi5 programrne such a5 the access to other Services are also making a difference. Our work with the Police resulted in the risk of exclusion for the 100 young people participating has being reduced. Our Social prescribers have supported over 300 people. reducing their reliance on their GP and other health provision. Our mental health services have supported young people and prevented some young people frorn entering clinical services. Our employability programmes have supported 485 people into and closer to the labour market. Our in work support progamme has enabled a high number of vulnerable staff lo sustain their employment in the face of difficulties.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Enabling people to transfomi their lives, by helping secure their basic needs. then enabling them to move forward and ultimalely to self actualise through acces5 to work and education combined with the cost saving5 lo statutory services. the contributions made through the lax system and the benefits to community cohesion provide a significant benefit to wider society. Flnanclal revlew In the circum51ances that prevailed through 2024125 the financial performance of the organisation was strong. and we believe we have invested in meaSUS that will Secure our future sustainability. Income in 2024125 (£3,400,411) was significantly higher than 2023124 {£3.108,125), however overall expenditure was higher, as we invested in growing our staff team lo meel the needs of our beneficiaries. We finished the year with a surplus in 2025 (£14,624) compared to a deficit in 2024 (£66,498). At the end af the year SOFEA had lower fund balances on restricted funds mainly as a result of the treatment of large capital grants. The unrestricted fund balance is much improved from last year. Definitions and Goals.. The Reserve Fund is defined as a designated fund set aside by action of the Board of Trustees. The Minimum amount to be designated as ReseNe. will be established in an amount sufficient to maintain ongoing operations and programmes for set period. The Reserve seNes a dynamic and ch8nging role and will be reviewed and adjusted in response to intemal and external changes. The target minimum Reserve Fund includes all recurring, predictable expenses such as salaries, occupancy. administration and runnSng costs of motor vehicles. Depreciation and other non-cash expenses are not Included in the calculation. The amount of the Reserve Fund target minimum will be calculated each year after approval of the annual budgets. Funding of Reserves.. It is the policy of the charity to move to a position vthe unrestricted funds which have not been designated for a speclfic use should be maintained at a level sufficient lo ensure that the charity can continue to operate should some or all of ils income cease, or to properly discharge its duties in closing the charity. The GharSty, SOFEA, recognises the need for a ReseNes Policy to ensure the stability of the mission, programmes, employment, and ongoing operations of the organisation. The Reserve is intended to provide an intemal source of funds for silu81ions such as one-time unbudgeled expenses, unanticipated loss or delays in funding or uninsured losses. In addition lo the sum sel asidé lo ensure contsnued operallons, we aim to raise additional funds as a reserve for one-time. non-recurring expenses that will build long term c8pacity, such as investment in infrastructure or staff development. The Reserve Policy will be implemented in conjunction with the other governance and financial policies of SQFEA and Is Intended lo siippnrt Ihp. .qlrAtp.giR.4 and gnAI8 r.r)nlainp.d in rplated policies. The Sum set aside for this purpose Is currenuy set at £225k and the target level is £300k. We could achieve this by increasing revenue or reducing costs over the rest of 25126. Free reserve5 will be funded with surplus unrestricted operating funds. The Board of Trustees may from lime to time direct that a specific source of revenue may be set aside for Operating Reserves, such as on&lime gifts, special grants, or special appeals. Reporting and Monitoring.. The CEO is responsible for ensurlng that the free reserve is maintained and used only as described in the policy. The CEO provides regular reports to the Finance and Risk on the level of free reserves. Review of Policy.. This policy will be reviewed every year by the Finance and Risk Committee, or sooner if warranted by internal or external events or changes. Changes to the policy will be recommended by the Finance and Risk Committee to the Board of Trustees.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Principal sourc06 of lundlng ContraGt Income- £821,427 (2024.. £840,301) Donations- £285.903 {2024'. £236,909) Grant Income- £1,553,14812024.' £1.289,645> Other Revenue - £5,11412024'. £22,603) Community Food Members - £222,30112024: £204,408) Community Larder- £503.81812024.' £506,862) Interest Income- £8,70012024'. £7,397> Total Ineom•- £3,400,411 (2024: £3,108,125) We would like to thank our major partners for their support in 2024125: Actlvale Learnlng Fareshare UK Mllton Keynes College OXLEP Thames Valley Pollc8 And are grateful to the followlng funders for their support in 2024125: Albert Gubay Charitable Fcundation Batchwarth Trust British Airways Cadbury Foundation Childwick Trust Christ's Hospital of Ablngdon Crilchley Foundation Garfield Weston Hubbub & Virgin Media 02 John Lewis Partnership Foundation King Charles Charitable Fund Lennox Hannay Foundation MacFarlane Family Foundation Magnox Marguerite Foundation Middle Way Trust MINT Velvet Oxfordshire County Council Reed Foundation Rowse Family Trust RWE Foundation Sovereign NebNork Group Limited Social Investment Busines5 South Oxfordshire District Council St James's Place Charitable Foundation Swire Will Houghton Foundation Yorkshire Buil(Jing Society The trustees have a55e5S8d the major risks lo whith the charity is exposed and ar8 5at15fied that system5 are in place to mitigate exposure to the major risk5.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Factors affectlng future financlal perforniance SOFEA'S Board has developed a detailed risk register, which highlights the potential risks to the organisation and Ihe miligating actions it is taking. We have highlighted the following areas as potential sources of risk: Safeguarding SOFEA works with vulnerable young people and at any particulartime a number are likely to be involved in child protectionl safeguarding cases. In 2024125 we had no significant unresolved safeguarding issues at SOFEA, but we were involved in Ihe wider cases of several young people. Our approach to Safeguarding 15 robust, everyone is trained to a high standard and we have two members of stsff vtho frequentty train other organlsalions with the Oxfordshire Children's Safeguarding Board. Operational resilience In the context of a growing organisation and the effects of the pandemic, we will need to have continued regard for operational resilience and ensure th8t our fin8ncial contro18 8re strong. Our model requires a significant proportion of our funds to come from grants. Our ability to continue to gain income from Ihis source, and ils sustainabllity, will to some extent delemine our success in the future. As we grow our staffing requirements will change and we will need to ensurè that the management capacity is matched to the size and complexity of the org8niz8tion. Dats Protecllon and Cyber Securlty We continue lo Improve our systems and approaches to both data protection and cyber securfty. as we recognls8 the significant risk In th18 area. We will shortly be seeking Cyber Essenllals accreditation. Compliance We work in two highly regulated areas - with young people and with food. In addition, new data protection rules Tnean we need to ensure our compliance procedures continue to be robust. Our policies and procedures have been reviewed in ihe year and significant ifflprovements have been made. Plans For the Future The need for the Vrk SOFEA does will continue lo grow. In responsé we have undertaken a revlew of our Theory of Change and our Strategy to: More explicitly focus on Ihe need lo gupport disgmpowered young peoplo at the key transillon polnt Into adulthood through our Innovtaive approach to w?Ilbelng, oductalon and ?mployrnent Focus our work on building resilience in communities by working closely wth Fareshare UK, as it transitlons into a new organisation, on a food strategy to unlock MO surplus food To increase the scale of operations by moving into an additional unit in Milton Keynes in 2025 Become an anchor institution in our communities through the development of partnership working in Didcot and Bletchley and by working with our partners in growing the number of Community Larders and the services provided through them. Explore the development of our new programmes, such as.. developing our food programme lo provide nutritional support through our Nourish and Flourish programme and kitchen. Powerhouse Pathway (Preapprentsceship) as an approach to getting young people into work Summary of plans for the futuro and the trustees. pgrspectlve of the futuro dlrectlon of the charlty. SOFEA enables people to Iransfonn their lives.
SOFEA TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Our aim is to enable more people to transfom) their lives in more ways. To do thi5 will continue to grow our existing programmes in existing locations, develop existing programmes in new locations, develop new programmes and to demonstrate the value of the WOTk we do we will build a robust Impact Framework. Structure. governance and rnanagement The charity is constituted as a Charitable Incorporated Organisation, registered under the Charity Commission in England & Wales and Its governing document Is a written constitution. The Goveming Document is dated 3 December 2013 and was last amended on 16 January 2020. The truslees vtho served during the year and up to Ihe date of signature of the financial statements were.. M Broadway A Camoenie, Treasurer J Dyson OBE, Chair R Ellis S Jamshidifard J Mitchell A Mylvaganam RNiChoOo B Shuttleworth A Thom50n BThreadgold. Vice Chair E Vyse During the yeBr, the Board consisted of twelve Trustees, seven men and five women. We continue to review the skills we require and whether we need to add further to the Board. The organisation has grown in the last Iwelve months. There are a significant number of new staff and the organisatlon structure has adapted to meet the current need. We have added strength lo our Head Office with appointments of a Finance Dirèctor and a Director of Business Support. The Board of Trustees has approved a delegated authorSty pollcy, whlch sets out th8 d8legallon of declslons to Sts committees and to the Chief Executive and his management team. Pollcies ar8 In place for the induction of new Trustees and opportunities are made available for Trustees to become involvèd in a5p8cts of the Charity in which they have an interest. The Trustees have approved 8 pay policy, p8y and remuneration decisions are made in line with this policy. The organisation has robust DEI and Whistleblowing policies. The Trustees, port was approved by Ihe Board of TnJ5tees. Joanna Dysb OBE Chair of Trustee5 Dated.. 10
SOFEA STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2025 The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accountsng Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities In England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the 51ate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees ar8 required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charltles SORP; make judgements and estimates that are reasonable and prudent., slate whether applicable accounting stand8rd8 have b88n followed. subject to any m8teri81 departures disclosed and explained in the financial statements; and prepa the financi81 statements on the going concem basis unless It is Inappropriate to presume that the charity will conlinue In operation. The tru81ees are responsible for keeping sufflclent accounting records that dlsclose with reasonable accuracy at any time the financial p051tson of the charity and enablc them to ensure that the financial stalernents comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responslble for safeguarding the assets of the ch8rity and hence for taking Teasonable Steps for the prevention and detection of fraud and other irregularities.
SOFEA INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOFEA Opinion We have audited the financial 5taternents of SOFEA I'the charity,) for the year ended 30 June 2025 which comprise the slatement of financial activities. the balance sheet. the statement of cash flows and notes to the financial statemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. including FRS 102 The Fin8nci81 Reporting Standard applicable in the UK and Republio of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. 'give a true and fair view of the slate of the charity's affalrs as at 30 June 2025 and of ils incoming resources and application of resources for the year then ended., .have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and •have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinlon We conducted our audit in accordance with International St8ndards on Auditing IUKI IISAS IUK)) and applicable law. Our responsibilities under those standards are further described in the Auditors Sponsibl11t1S for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financlal slatemenls Sn the UK, including the FRC'5 Ethical Standard and we have fulfilled our other ethical responsibllitles in accordance with these requirements. We believe that the audit evidence we have oblalned is sufficient and appropriate to provide a basis for our opinion. Concluslons rolatlng to golng concern In 8uditing the financial statement5, we have concluded that the Trustee's use ol the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have pertormed, we have nol identified any matenal uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to contlnue as a going concem for a period of at least 12 months from when the financial statements are authorlsed for issue, Our responsibllltles and the responsibilities of the directors with respect lo going concern are dèscribed in Ihe relevant sections of this report. Othor Inforniatlon The other inforniation cornprises the Informatlon Included in the 8nnual report, including the tru5tees' report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent Otherlse explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is malerialty inconsistent with the financial stalements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing to report in this regard. 12
SOFEA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOFEA Matters on which we are required to report by exception In the light of Ihe knowledge and understanding of the charity and its environment obtained In the course of the audit, we have not identified material misstatements in the trustees. report. We have nothing to report in respect of the following matters in relation to which th8 Charities (Accounts and R8POrts) Regulations 2008 require us to report to you if. in our opinion.. .the informalion given in the trustees, report is inconsistent in any material respect with the financial statements- or •suffic18nt accounting records have not b88n kept. or .the financial statements are not in agreement with the accounting records; or •we have not received all the information and axplanations we require for our audit. Respon•lbllltles of trustses As explained more fully in the trustees, responslbillties statement, the trustees are responsible for the preparation of the flnancial statements and for being satisfied that they give a tfue and fsir view, and lor such intemal control as the trustees determine is necessary to enable the preparatlon of financial statements that are free from materlal misstatement, whether due to fraud or error. In preparing the financial st8temenls, the trustees are responsible for assessing the charity's ability lo continua as a going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend lo liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responslbllltle8 for tho audlt of the flnancial statemonts We have been appointed as auditor under Section 144 of the Charitles Act 2011 and report in 8ccordance with the Acl and relevant regulations made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financial stalements as a whole are free from material misstatement, whether due to fraud or error, and io issue an 8udltorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a gu8ranlee that an audit conducted in accordance wllh ISAS (UK) will always detect a material misstatement when it exists. Misstatements can ari58 from fraud or error and are considered materiBI if, indiviiiually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basls or these flnanclal statement5. Irregularities. induding fraud, are instances of non-compliance with laws and regulations. We design Procedures in line with our Tespon5ibilities, ouuined above, to detect malerial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills lo identify or regnISe non-compliance with applicable laws and regulations,. we identified the laws and regulations applicable to the company through discussions with trustees and other management. and from our knowledge and experience., we focused on specific laws and regulations which we considered may have a direct material effect on the financial stalements or the operations of the Charity, including Charities Act 2011. we assessed the extent ol compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable.. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to Instances of non-wmpllance Ihruuyliuul Ilig dudil. We assessed the susceptibility of the charity's financial statements to malerial misstatement, including obtaining an understanding of how fraud might occur, by.. 13
SOFEA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOFEA fTiaking enquiries of mar>agement as to where they considered therè was susceptibillly to fraud, their knowledge of actual, suspeelad, and alleged fraud., and considering the internal controls in place lo miligale risks of Iraud and non-compliance with laws and regu181ions. To address the fisk of fraud through management bias and override ol controls, we.. performed analytical pra¢edure5 10 identify any unusual or unexpected relab'onships., tèsted journal enlnes lo identify unusual transactions: assessed whether ludgemonls and assumptions mad8 in determining the accounting eslimal85 were indicatsve of pot8nli81 bias,. and Investigated the rationale behind signifi¢8nt or unusual Irans8Gllons. In response to the rlsk of Irregularities and non-compliance with laws and regulations. we designed proc8dur88 which Included. but were not limited lo,, agreeing linancial statement dlsclasures lo underlylng supportlng documentation.. reading the rnlnutes of meeting8 of those charged with governance.. enquiring of management as lo actual and potential litigation and clalms., reviewing relevant correspondence, There ao inherent limitations in our audit procedures d8scribed above, The more removed Ihal law5 and regulation5 are from financlal Iransacllons, Ihg less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedur8$ required lo identify non-compliance with laws and regulations lo enquiry of th8 Trustees and other management and the Inspection ol regulatory and legal correspondonce, if any. Material misst8lemenls that arise due to Iraud can be harder lo delect than those that arise from error as they may involve deliberate concealrnenl or collusion. A further description of our r8spon5ibililios for the audil of the finanaal 8latement9 is located on the Financial Reporting Councll's website al.. vw.fTC,org.uk18uditorsresponsibili15e8. This description forms part of our auditor's report. Gravita Audit Oxford LLP 18 ellglble for appointment as auditor of the Gharily by virtue of its eligibility lor appoinlmenl a$ auditor of a company under section 1212 of the Companles Act 2006. U8• of our r•port This report is made solely lo the charity's Iru51ees, as a body, in accordance wlh section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has b88n und8rtak8n so thal we might 51al8 to Ihe trustees those matters we are required lo stale to Ihern in an auditor's report and for no other Pufpose. To the fullesl extent permi118d by law, we do not accept or assLJme respon5ibillly lo anyone other than the charity's Iruslg85 as a body, lor our audit work. for th15 report, or for the opinions we h8ve forrned. Gravita Audit Oxford LLP First Floor, Park Central 4041 Park End Street Oxford OX1 1JD Dale. 6111125 14
SOFEA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025 Unrestricted Re$lrlcted funds funds 2025 2025 Total Unrestrictèd Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from Donations and legacies Charitable acllvities 940,756 898,295 1,839,051 740 1,547.546 8,700 5,114 536,462 1,549,297 7.397 990,092 1,526,554 2,274 1.551.571 7,397 22.603 1,546,806 Investmerts 8.700 Oih8r income 4,820 294 22,603 Total income 2,501.082 899,329 3,400,411 2.115.759 992.366 3,108.125 Ex 8ndlture o Charltable gctivilies 2.505,961 879,826 3,385.787 2.091,731 1,082.892 3,174.623 Net Incomel{axp6nditure) for the yea1 (4,8791 19.503 14,624 24,028 190,5261 166,498 Transfer between funds 290,333 1290,333) 151,825 1151,8251 Net movernent in funds 285.454 1270,830) 14,624 175,853 1242,3511 166.4981 Fund balarKes a11 July 2024 Fund balancos at 30 June 2025 214,871 500,325 479,461 208,631 694,332 708,956 39,018 214,871 721,812 479,461 760.830 694,332 All income and expenditure derive from continuing activities. 15
SOFEA BALANCE SHEEr AS AT 30 JUNE 2025 2025 2024 Flxed asjels Intarolble assets TarKJibl8 a888t8 12 39,403 396,838 43.781 496,966 13 Curr•nt usots Debtor8 14 362,407 553,698 916.105 475,185 342,975 818,160 664,575 Cash al b8£ and In hand Crndltors: amounts falllng duo wlthln ¢Jn• year 15 524 187 N8t currert a888ts 391918 153,585 Total auet• le•• curr¢nt Il•bllltl•8 828,159 694,332 Cradltorn: amount• famlng du• 4ftgr mor• Ihan on• y••r N•t N3••t• 16 119,203 708,956 694,332 Income fvnds Restricted fLmds 208,631 500.325 479,461 214,871 Iheslrlcted furMJ8 708,956 694.332 The financial 8tat8m8nts were approved by the Trustees on ............... 'aJ- Joanna Chalr of Trust•a• 16
SOFEA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 Notes Cash flows Irom operatlng actlvltl88 Cash (absorbed byllgenerated from Operatior 21 88,394 {176,621) Investlng actlvltles Purctrose of Intangibl8 & tangible fixed assets 15,574) (200,5451 Investment Incom6 recelved 7.397 N•t cash usod In Inv••tlng octlvltlos 3,126 1193,1481 N•t cash iised In flnanclno acllvltlft Net Idacrease)Ilncreaso In cash and cash •qulvalonts 119203 210,723 (369,769) Cash and cash equhmlents at beginnirvj of year 712744 Cash and cash equlval8nts at ond of yoar 553,698 342 975 17
SOFEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting pollcles Charity infomiatlon SOFEA is 8 Charitable Incorporated Organisation incoTpofdted in England and Wales. The principal address is 1 E Trident Park Didcot OX117HJ. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's governing document, the Charfties Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in 8ccord8nce with the Fin8nci81 Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 102)" las amended for accountlng pericds commèncing from 1 January 20191. The charity is a Public Benefit Entiiy as defined by FRS 102. Th8 financlal statements hav8 departed from the Charities (Accounts and Reports) Regulalions 2008 only lo the extent required to provide a true and fair vlew. This departure has involved following the Slatement of Recornm8nded Pracllce for charities applying FRS 102 rather than the version of the Statement of R8comm8nded Practice which is referred lo in the Regulations but which h8s since been withdrawn. The financial statements are prepared in sterling. which 15 the functlonal currency of the charity. Monetary amounts in these financial 5talemenls are rounded lo the nearest £. The financial statements have been prepare(l under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Golng concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Iruslees continue lo adopt the going concern basis of accounting in preparing the financi81 statements as Ihere are no rnaterial uncertainties about the charity's ability to continue. 1.3 Charltable funds Unrestricted funds are available for use al the discretion ol the trustees in furtherance of their Gharitsble oblectlv88. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slatemenls. Endowrnenl funds are subject to specific conditions by donors that the capital musl b8 malntaln8d by the charity. 1.4 Incomo Income is recognised when the charity 15 legally entitled to it after any performance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donation5 are recognised on receipt. Other donations are recognised once the charity has been nots'fied of the donalian. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notlfied of an impending distribution, the amount is known, and receipt is expecled. If the amount is not known, the legacy is trealed as a contingent asset.
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Accounting policlos (Continued) Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued lor balance sheet purposes. 1.5 Expendltur• Liabilities are CogniSed as expenditure as soon 8S there is a legal or constructive obligation committing the charlty to that expenditure, it is probable Ihal 8 transfer of economic benefits will be required in settlement and the amount of the obllgation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under heading5 that aggregate all cost relaled to the category. Where costs Gan not be directly allributed lo particular headings they have been allocated lo activities on basis consistent wlth the use of resources. 1.6 Tanglblè fixèd as8Ots Tangible fixed assets are Initially measured at cost and subsequontly measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognlsed so as to write off the cost or valuatlon of assets less thelr resldual values over their useful lives on the lollowing bas81J: Leasehold improvements Plant and equipment Fixtures and fittings Motor vehides Intsngible asset 15- 23°A reducing balance 20- 100¥o reducing balance 20% reducing balance 20% reducing balance 10% reducing balance The gain or loss arlsing on the disposal of an asset is determined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in net incomellexpenditurel for the year. 1.7 Impalmient of flxed assets At each reporting end dale, the charlty revlews the carrying amounls of Its tangible assets to determine whether there is any indicalion that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the Impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents Includ8 cash in hand, deposlls held at call with banks, other short-term liquid Investmenis wilh original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal instrumonts The charity has elected to apply the provisions of Seclion 11 'Basic Financial Instruments. and Section 12'0ther Financial Instruments Issues, of FRS 102 to all of its financial instrurnents. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provision5 of the instrument. Financial asse15 and liabilities are offset, wilh the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recogni5ed amounts and there is an intention to setue on a net basis or to realise the asset and settle the liability simulianeou51y. 19
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Accountlng polldes (Coniinued) Baslc flnanclal a88ets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitules a financing transaction, where the transaction is measured al the presenl value of the future receipts discounted at a maTkel rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal liabilities Basic financial liabilities, including creditors and bank loans are inltlally recognised at transaction prlcé tsnless the 8rrangement conslitules a financing transaction. where the debt instrument is measured at the present value of the future payments dlscounted at a market rate of interest. Financial Ilabilllles classified as payable within one year are not 8mortised. Debl Instruments are subsequently carrled at amortiged cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or Services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as CUTrent liabilities if payment is due within one year or less. If not. they are presenled as non-current liabillties. Trade creditors are recognised initially at transaction price and Subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltl85 Financial liabilibes are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benellts The cost of any unused holiday entitlement is recognised in the period In which the employee's seNices are received. Termination beneflts are recognised immediately as Bn expense vthen the charity is demonstrably committed to terminate the employment of an employee or to provlde termination benefits. 1.11 Retlram•nt benefits Payments to defined contrlbutlon retlremenl benefit schemes are charged es an expense as they f811 due. 1.12 Donat•d goods Donated goods received relate to highly perishable food items with little to no resale value. The goods are not recognised within the accounts as it is difficult lo measure the fair value of the iterns. Only goods purchased aré accounted for within the accounts al cost. 20
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Crltlcal accounting estimates and Judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabililies thal are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Aclual results may differ from these estim8te8. Th8 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate Is VISed where the revision affects only that period. or in the period ol the revision and future periods where the revision affects both current and future periods. Flxed a•¥et d•preclatlon Depreciation is recognised so 8S to write off the cost or valuation of assets less their residual value3 over their Useful lives. Calculation of depreciation requires judgements lo be made, which include the useful economic lives of fixed assets held. Depreciation and impaimient for the year was calculated to be £110,079 (2024.. £104,892). Donatlon• and l•gacles Unre8trlctsd R•¥trlcted Total Unrestrlcted FundB Restrlcled Total Fund• Funds Fund• 2025 2025 2025 2024 2024 2024 Donallon8 and gif18 Revenue granis 280,155 660,601 5,748 892,547 285.903 1.553,148 201,909 334,553 35.000 955.092 236,909 1,289,645 940.756 898,295 1,839,051 536,462 990.092 1.526,554 Grant¥ r•uivable for corn actlvltle> Revenue oranls from government and publlc bodies 318.064 381.215 699,279 120.3 556,908 677,208 Revenue gran15 & d¢Jnalions from non publlc bodies 342,537 511,332 853,869 214,253 398.184 612,437 660.601 892,547 1,553.148 334,553 955,092 1,289,645 21
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Incon* from Charitable activlties 2025 2024 Community F¢Jod Membèrship Income Community Larder Membership i1)Me Contract IroMe 222,301 503.818 821,427 204,408 506,862 840,301 1,547,546 1,551,571 Analysis by furKI lthrestricted fd8 1,546,806 740 1,549,298 2,274 Restricted furKIs 1.547,546 1.551,572 Invutm•nt• Unro•trlct•d UtrIct•d Funds Funds 2025 1024 Interest recelvable 8,700 7,397 Olh•r Income Unrestrlct•d Ro•trlcted Total Unrn8trlct•d Fund• Fund• Funds 2025 2025 2025 2024 Consultancy & 8eNlcg In¢ome 4,820 294 5,114 22,803 22
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Expenditure on Charitabl8 activities 2025 2024 Staff costs 2,159,822 2,088.230 Volunteer costs 1,073 1,572 Moior Vehicle Costs 136,735 147,157 Prcgrarnn8 costs 94,830 76,454 Facilities costs 334,196 301,795 Technology costs 21,377 25.567 Cffice costs 12,500 9,551 General Insurance costs 15,766 21,036 Finance costs 37,293 19,148 Adwtising & Marketing costs 19,100 24,930 Depreciation & impairment 97,102 104,892 General costsl bad debt 6,121 139 Loss on dlsposal 12,977 Irrecoverable VAT 53,443 42.929 3,002,335 2,863,400 Sh8re of support & gornanCe costs {see not8 8) 383,452 311,223 3,385.787 3.174,623 Analysls by fund Lknre5tricted funds 2,505.961 2,091.731 Restrictsd funds 879,826 1.082.892 3,385,787 3.174,623 23
SOFEA NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Support costs Support Govarnance 2025 Support Govarnance 2024 costs costs costs costs Audit fees 9,500 9.500 9,200 9,200 Legal and professlonal 3,490 3.490 Professional feesa1ary 337,302 33,160 370,462 264,549 37,474 302,023 340,792 42,660 383,452 264.549 46,674 311,223 Anatysed between Charitable activities 340.792 42,660 383,452 264,549 46,674 311.223 Governance costs Include payments to the auditors of £9,50012024- £9,200) for audit fees. Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. One trustee was reimbursed £44 {2024'. £216) for travel expenses in the year. No Trustees received remuneration from the Charity this year12024.' None). 10 Employees TTr average monthly nLThber of employ8es duriThJ the year was.. 2025 2024 Number Number 77 76 Employment costs 2025 2024 Wages aTrJ salaries 1,962,208 1,847.298 Employer Nl 183,668 162.522 Employer Pension 40,050 36,589 2,185,926 2,046,409 24
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Two employees (excluding the TTUStees) during the year whose gross pay and benefit (excluding employer Nl and pension contributions) fell within the fdlowing bands was.. 2025 2024 Number Number £60,001- £75,000 11 Th? Contrlbutlon ol volunteorn The charity had 61 {2024'.47) regular volunteers who donated at least one day (up to 5 days) a week14-hour days) and 75312024.. 2501 corporale volunteers. commilling at leasl 1 day (6 hours days). Total volunteer hours were higher than the previous year at 11,744 hours12024'.9,500), 85 we have seen an increase in corporate volunteers 12 kntanglblD Ilxod •88•ts k)tanglblo Softwar• Total Co¥t AI 1 2024 49,470 49,470 Addlllon8 AI 30 Jun& 2025 49,470 49,470 Am(lSaI10n Al 1 Juty 2024 5.689 5,689 Amortlsation Gh3rged in the year 4.378 4,378 AI 30 June 2024 10,067 10,067 Carrylng amount AI 30 Junè 2025 39,403 39,403 AI 30 Jung 2024 43,781 43.781 25
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 13 Tangible Fixed Assets Leasehold Improvem•nts Plant and Equlpm•nt Fixtures and Flttlngs Motor Vèhlcl•s Totsl Cost At 1 July 2024 406,925 242,770 131,082 4,000 784.777 Additions 5,574 5.574 Disposal 115.8361 115,8361 AA 30 Junè 2025 406,925 226,934 136.656 4,000 774.515 Depr•¢l4tlon •nd Imp•lmi•nt At 1 July 2024 127,244 120,897 38.361 1,309 287.811 Depreclatlon chaiged In the year 58.818 9,213 24,156 538 92,725 EllrTlnaled on dl8posal 12,859) 12.8591 At 30 June 2025 188.062 127,251 62,517 1,847 377.677 14 Debtors 2025 2024 iount8 falllng due wllhln one year Trade debtors 21,432 105,970 Other debtors 119,673 68,426 Prepaymenls and accrued inco 221.302 31X).789 362,407 475,185 15 Crodttors: amount8 lalllng duo wlthln one year 2025 2024 Cther takilion and sccial security 48,228 38.541 Trade creditors 131,691 121,863 Other creditors 26,091 26,996 AccruaLs and deferred incorr 282,880 477.175 Loan 35,297 524,187 664,575 Within accTual and deferred income, is deferred income of £ 266,552 {2024: £463.581) from grant and contract income received in advan. 26
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 16 Creditors: amounts falllng due after more than one year 2025 2024 Loans and overdrafts 119,203 119,203 A loan facllity of £154,500 was provided to SOFEA for a term of48 months. The fundlng has enabled the organSzatlon to 8cceg8 888entl81 working cBpilBI and to rcinforce its Inlemal investment in the businoss d8v8lopm8nt l88m, thereby supportlng long-term growth and suslainablllty. 17 Anaty&l• of not a¥¥et• b•tw••n fvnd• Ilnr*A¢rlrt• Fund• R•strktsd Funds Unr••trl¢t•d Fund• R•Atrlct•d Funds TDtsI Total 2025 2025 2025 2024 2024 2024 Fund b8Lqnces at 30 June 2025 am repmsented by.. Tanglbkg & h18nglbl8 assets Currenl 8588lsl IllabS1111081 436,241 64.084 436.Z41 205.907 334,840 144,621 540,747 208,631 272,715 8,964 153,585 500,325 208,631 708.956 214,871 479,461 894,332 27
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 18 Restricted fvnds At 1 July 2024 In¢omlng resources Resources expended At 30 June 2025 Community Fcd 148,528 105,247 1253,7751 Community Larders Education 10,OCH) 76.740 (78,111) 143,007) 8,629 29,185 20,585 6,763 Errployability Wellbeing 70,322 362,523 (352.364) (8.OMI (143,5691 80,481 7.600 29,715 152,968 39,114 Nourish & Flourish 135,237 65,341 (168,0131 (123,2751 32.565 Ptsad fiCe 56,030 108.324 41.079 Total 479,461 899,328 (1,170,158) 208,631 Rostrktod funds Conwarallvo {2024> Al l July 2023 Incomlng resources Resources expend8d At 30 June 2024 c1rn[ty Food CLYnrNnity Larders 236,040 61,71)) 1149,2121 148.528 62,521 22,274 {74,795) {10,391) 10,000 Education 34,576 29,185 Emph)y8bih'ty 78,409 374,234 1382,321) 70.322 Well)elng GOO 111,9821 31,223 246.594 1234,168) {91.459) 1171,376) 1120,995) 444 89,951 29,715 N4)urlsh & FIriSh 184,000 122.613 135,237 Fad Offlce 107,025 70,OfyJ 56.030 Total 721,812 992,366 (1,234,717) 479,461 Community Food- This fund represents monies given to us for use capital and operation expenses in community food. Community Larders- This fund represents rnonies given to us for use certain expenses in Larders. Education- This fund represents monies given to us for use certain expenses in Education. Employability- This fund represents monies given to us for use certain expenses in Employability. Wellbeing- This fund represents monies given to us for use certain expenses in Wellbeing. GOO- This fund represents monies given to us for use Getting Oxfordshire Online digital service. Nourish & Flourish- This fund represents monies given to us for use capital and operation expenses in SOFEA kitchen facilities. 28
SOFEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Head Office- This fund represents monies given to us for use software. hardware and Milton Keynes expansion. 19 Related Party transactions Bemard Grenville-Jones was a Trustee until March 2024, and was an Executive ofActivate Learning until December 2024. Conlracl income totalling £410.765 (2024.. £496,414). Richard Kennell, the CEO of SOFEA is also a Trustee of Didcot Comrnunily Partnership. Contract income £14,219 (2024.. £2,736) 20 Key Managom•nt P•rnonnel During the year, the Key Management personnel received remun8ratlon of £332,034 (2024., £392,799). 21 Cash generated from opèrallons 2025 2024 Surplu$llDeficSt) for the year Adjustments for: 14.624 166,4981 InVestrTnI income recognlsed in stat8menl of financial activities (8,7001 (7,3971 Depreciation and impairment of tangible fi'xed assets Asset disposal Movements In worklng capltsl: Decrease in debtors 97,103 104,892 12,977 112,778 1215,2671 7.649 (Decrease) in creditor5 {140,388) Cash (absorbed byllgenerated from operatlons 88,394 (176,6211 22 knalysls of changes in net Ibnds This charity had no net debt during the year. 23 Oporallng Loa805 2025 2024 8ulldlng8 eypiring within one year eyiring beeen two and five years 182.620 182,620 287,670 470.290 470,290 652,910 Other eypiring within one year eypiring between and five years 26,486 71,990 55,077 18,560 81.563 90,550 29