**REGISTERED CHARITY NUMBER: 1156185** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **FOR** ## **FAIR FROME** Berkeley Hall Marshall Limited 6 Charlotte Street Bath BA1 2NE ## **FAIR FROME** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 6| |**Independent Examiner's Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9| |**Notes to the Financial Statements**|10 to 14| |**Detailed Statement of Financial Activities**|15 to 16| **FAIR FROME** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Our aims and objectives** Fair Frome aims to prevent and relieve financial, educational, social and health poverty for people living in Frome and the surrounding areas. This will be achieved through the provision of direct services and through the support and development of other organisations in such a way that they are able to identify and meet these needs. ## **Our activities and how we work** Our Activities and How We Work We continue to support local people through projects that provide help when it is needed. Our projects are funded by the generosity of our local councils, community groups, residents and local businesses who all donate so generously to our charity. We currently have a small but important staff group, comprising of one full-time Senior Coordinator, an Assistant Coordinator working 4 days a week and a part-time furniture bank coordinator. We also pay for support from self-employed contractors on an hourly basis to cover our Food at Five project and other schemes. We have provided training for staff, volunteers and trustees in Safeguarding and other essential areas of work. All of our Trustees and Volunteers must have attended one of our Safeguarding courses. Our volunteers remain at the heart of our work. We have had the support of over 50 volunteers including young people with additional needs as well as those completing their Duke of Edinburgh scheme, and have provided over 100 volunteer hours every week. Some of our volunteers have progressed to securing employment with the skills that they have gained from their experience with Fair Frome. Fair Frome continues to act as an umbrella group, regularly bringing together local agencies working with people in poverty to share ideas and plan joint services. This proved to be especially useful during the latter stages of the pandemic and the continuing cost of living crisis. Fair Frome supports other groups and events in the town including the Carnival Club, 'Frome Christmas Get Together' and the Frome Children's Festival. We also work with the local community to raise a voice against the causes of poverty and deprivation both locally and nationally and are affiliated to the Independent Food Aid Network (IFAN), The Equality Trust and the Living Wage Campaign. ## **Public benefit** The charity objectives and aims are performed with regard to the Charity Commission guidance on public benefit. Page 1 **FAIR FROME** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **ACHIEVEMENT AND PERFORMANCE** ## **Our Achievements Over the Year** 2024 marks the tenth year that Fair Frome has been in existence. For nearly two years the charity had been looking for new premises as we have outgrown our old home at the Elliott Building, tucked in behind the Town Hall. As reported earlier, particularly during the difficulties of COVID, the Elliott Building became extremely cramped and crowded. After searching and looking at scores of potential new premises, and again as reported in our Annual Report of last year, we eventually found somewhere suitable at Unit 7, Longacre on the Marston Trading Estate. The (almost) new build is substantially larger than the old Elliott Building, with room to accommodate our Furniture Bank as well as provide a home for our new Baby Basics Bank. In addition, there is also a kitchen as well as three separate offices for multiple uses including meeting rooms. An outside space for a garden is also available and we are in the process of making this into an attractive feature of the premises. For the Furniture Bank, finding new premises was particularly important as where the furniture was previously stored had become regularly flooded as well as being rodent-infested. Fair Frome now has the benefit of a 5 year lease for the premises which was signed in January 2023 (with a break clause after 3 years). At the end of April 2023, during a one day operation we successfully transferred our main home from the Elliott Building to the Marston Trading Estate. Upon moving in during the Spring of last year, the food shelving units were erected in the main body of the building. Crucially, we were able to erect a temporary dividing wall between what is now the Furniture Bank section, making it separate from the rest of the building. The whole of the inside was also painted, with a new heating system also installed. A new security system was also put in place, as were outside lighting units. To enhance the food provision, a large new refrigerator and a freezer unit was also installed. We have also been extremely fortunate to have the offer from a local business owned by Mr Darren Bowsher to have installed for us at no charge, solar panels together with the appropriate and accompanying inverter and battery apparatus. This gift was extremely generous and during the next 12 months we look forward to seeing how our electricity expenditure can be reduced. We have now been at our new home on the Marston Trading Estate for nearly a year and the reaction of both our users and clients has all been extremely positive. We have worked hard to ensure that upon entering the building, the atmosphere is as welcoming and warm as possible. Our new home is increasingly seen by other organisations as an excellent venue for meetings. We are particularly pleased to see that our new premises are increasingly being used by organisations such as the Inclusion and Homeless Health team to a counselling service for young mothers. As with our main reception area, we have made strenuous efforts to ensure that our meeting rooms are as welcoming as possible. What of the Elliott Building? We had always been keen to provide a 'stepping stone' to help those using our Food Bank to get back on their feet. The idea of a Community Pantry seemed the ideal way to do this. Thus, when we moved out of the Elliott Building at the end of April we entered into negotiations with the owner of the Elliott Building, Frome Town Council and once a week we are now providing a Community Pantry service at the Elliott. We have a dedicated team of volunteers who are present to help clients not only with what they need for their nutritional needs, but also to help signpost on how other help may be available to them. The terms of the lease with Frome Town Council remain flexible to ensure that we are tied in to no long term legal commitment. In the meantime, rising fuel bills and the cost of living crisis has ensured that our core activity of the Food Bank and all of our related services have seen increased demand. More of our clients remain in work (over 40%) but simply cannot afford to get by, facing high costs and low wages. Over the past year, set out below are just some of the tasks that we have managed to carry out: - Food Bank-we have given out 1326 food parcels to individuals, couples and families over the year with additional items of fresh food such as eggs, milk, cheese, fresh fruit and vegetables.-Collected 38942kg of food and distributed 45430kgs of food through the Food Bank and local schools. - Delivered over 150 Christmas Parcels - Given out over 2509 vouchers through the food bank for fresh fruit and vegetables from a local shop - Given out over 2471 meat vouchers for a local butcher to provide quality fresh food - Given out over 1271 bread vouchers for a local baker to provide quality fresh bread - Given away more than 300 toys and books for Christmas presents Page 2 **FAIR FROME** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** - Been part of the team to organise the Frome Chriistmas Get-Together this year in 3 locations which is now providing 250 meals as well as company during Christmas Day - Food at Five- Not only have our team provided over 120 hot meals every week in 3 different geographic areas of the town, free to anyone on benefits or low income, but in addition, the chance to meet and speak with other people in a warm space providing a hot sit down meal in an inviting environment - Holiday Hunger (now re-named Holiday Lunches). We have provided an average of 35 meals per session 3 times a week during the school holidays, combined with activities delivered by our project partner Purple Elephant, to referred families - Furniture Bank. We have provided support to over 168 households in the Frome area. We have repaired cookers and washing machines where possible. Refurbished and repaired free white goods and household items of furniture have been delivered to individuals, couples and families, thus saving them from landfill. This service has been enhanced as unlike in previous years, the Furniture Bank is now part of our new premises at Longacre with its separate space in a clean, dry and safe environment - Assistance Scheme. During the year we have continued to provide school uniforms. We have also provided vouchers for clothes and shoes, particularly as we see family budgets squeezed. We have also provided key items such as transport for appointments, carpets and other essential items to referred families. Frome Lions and the local Rotary Clubs and Inner Wheel have been essential in providing us with funding for the more expensive items - Our Baby Bank continues to prosper during its third year of existence, providing essentials from nappies and formula milk to buggies and stairgates to referred families - Food for schools. We have delivered additional food parcels to Frome schools for families on Free School Meals - Through our targeted purchasing policy, where possible we have ensured that we have supported local businesses Page 3 **FAIR FROME** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **ACHIEVEMENT AND PERFORMANCE** Looking to the Future-A Message from our Chair As indicated above, much of our efforts in the past year has been dedicated to establishing ourselves in our new home on the Marston Trading Estate as well as seeing the successful launch of the Community Pantry. However, the last twelve months have also seen a significant change on the membership of our Board of Trustees, with new trustees being appointed (for details please see page 5 in this Report). After several years serving as trustees, in January 2023 Karen Stewart and John Killah were appointed as Joint Chairs of the charity. On the expiry of her time as trustee, Karen resigned as a trustee in January 2024, although we are delighted to report that Karen is continuing as a volunteer for Fair Frome, a role that she has undertaken for many years. In January 2024 John Killah was appointed as our Chair of Trustees for the next twelve months. Our finances remain sound. Throughout the past year we have also been conscious that it is good practice for a Charity to review its reserves policy every few years. There remains the necessity of balancing the spending of funds that donors provide to us and at the same time being prudent in being able to meet the financial challenges that lie ahead. At the commencement of a new financial year, we remain conscious that not only have we committed to a five year lease of our new premises (with some of those linked costs yet to be paid), but are also going ahead with new projects such as the Community Pantry at our old home in the old Elliott Building. During the current financial year the Trustees will adopt a Fair Frome Reserve Policy, to help ensure that we continue to have a sustainable and sound financial future. Looking at the year ahead and reflecting on the patterns that we see within our own organisation, regretfully we believe that the cost of living crisis will continue to have a profound impact on all of our work. It is not only ourselves who are of this view, but also most other like organisations who are responsible for running a food bank and/or related activities. It seems inevitable that throughout the next 12 months there is likely to be a greater demand on our services with fewer financial and other resources coming our way. Thus, our continual reviews of our finances and our ability to meet the challenges ahead. However, notwithstanding the increasing financial pressures that are likely to be coming our way, we are determined to continue with our 'can do' attitude towards meeting local challenges. As just an example of this, at the beginning of a new financial year, we are already exploring the possibility of starting a breakfast club for local schools where sadly this service is no longer available directly within the educational setting. It is therefore even more important that at this stage we thank all of our many supporters and friends who have helped us over the past year, from local Councils, particularly at Frome Town Council, other charities and local organisations such as Rotary, Frome Lions and Inner Wheel. The business community in and around Frome has been instrumental in helping us grow stronger. Most of all, Fair Frome has been most reliant on the people who both live or work in the town and its surrounding areas. Whether by occasional donations of food at the supermarket or by a monthly standing order, without the people of Frome it would not be possible for Fair Frome to meet the many challenges that lie ahead. During the next financial year we are planning to give a more formal expression of thanks to all our supporters and volunteers. But in the meantime, a huge 'thank you' to all! Page 4 **FAIR FROME** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **FINANCIAL REVIEW** ## **Our reserves policy** We hold reserves so that we can keep running our services even if our income from donations drops, or something unexpected happens. Trustees review our reserves policy at least annually and decide on the appropriate level of reserves to hold. At the end of the last financial year (31 March 2024) our total funds were £266,138. Some of these are funds are not accessible for us to spend. For example, our fixed assets of £20,667 cannot be easily turned into cash without selling the assets that we hold. The funds that are available to us total £244,000. All these reserves are 'unrestricted' but our policy is to designate reserves for specific purposes. The Trustees agreed to hold a 'crisis fund' of circa £1,000 per month which we could use to buy additional food if needed during the cost of living crisis. This accounts for £12,000 of our reserves. We aim to hold this reserve until demand for our services starts to fall. We are also holding a reserve for maintaining or replacing property and other assets. This reserve is for costs over and above our operational expenditure. Our current reserve for property and assets is £10,000. Our main reserve is for operational costs if our income drops. We aim to keep six to twelve months' expenditure as a reserve for this purpose (between £125,000 and £250,000, based on our latest expenditure forecast). As at 31 March 2024, we have £222,000 available in reserves for this, equivalent to over ten months' operational expenditure. The Trustees consider that these reserves reflect the particular circumstances of Fair Frome as at 31 March 2024, but will review reserves annually or more frequently if circumstances change. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1156185 ## **Principal address** Frome Town Hall Christchuch Street West Frome Somerset BA11 1EB ## **Trustees** J A Killah K L Stewart (resigned 8.1.24) R J Cannings (resigned 21.12.23) S L Perrett (resigned 27.11.23) B Goddard P Birch (appointed 5.6.23) A Hills (appointed 5.6.23) J Drake (appointed 5.6.23) L Davis (appointed 5.6.23) N Willis (appointed 5.6.23) R Taylor (appointed 1.7.24) K Clancy (appointed 1.7.24) J Battye (appointed 1.7.24) J Gardiner (appointed 10.7.24) Page 5 FAf¢ FROPAE FOR YEAR ENDED 31 MARCH 2024 Berkthy Hal MorstA Lin*ed BA12N JAKIth. INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAIR FROME Independent examlnerfs report to the trustees of Falr Frome I report to the charity trustees on my examination of the accounts of Fair Frome (the Trust) for the year ended 31 March 2024. Rosponsibilities and bas18 of roport As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trusvs accounts carrled out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions glven by the Charity Commission under Section 145(5){b) of the Act. Independent oxamlnerf8 8tat8m8nt Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am quallfied to undertake the examination because l am a member of the Instltute of Chartered Accountants in England and Wal88, which Is on8 of the listed bodle8. I have completed my examination. I confirm that no material matters have come to my attention In connection with the examination glvlng me cause to belleve that in any materlal respect: accounting record8 were not kept In respect of the Trust as requlred by Sectlon 130 of the Act., or the accounts do not accord with those records. or the accounts do not Gomply with the applicable requirements concerning the form and content of accounts set out In the Charities (Account3 and Reports} Regulatlons 2008 other than any requirement that the accounts glve a true and falr vlew whlGh is not a matter consldered as part of an Independent examination. I have no concem8 and have come acr088 no other matter8 In connect5on wSth the examlnation to which attention should be drawn In th1$ report In order to enable a proper understandlng of the accounts to be reached. Matthew Small FCA Berkeley Hall Marshall Limited 6 Charlotte Street Bath BA12NE Page 7 FAIR FROME STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 268.403 268.403 259,259 Investment income Other income 1,696 433 1,696 433 567 Total 270.532 270,532 259,826 EXPENDITURE ON Charitable activities General activity 242.662 242.662 160,025 other 6A59 6.459 987 Total 249,121 249,121 161,012 NET INCOME 21,411 21,411 98,814 RECONCILIATION OF FUNDS Total funds brought forward 244,727 244,727 145,913 TOTAL FUNDS CARRIED FORWARD 266,138 266,138 244,727 The notes form part of these financial statements Page 8 FAIR FROME BALANCE SHEET 31 MARCH 2024 2024 21r23 Tolal lunds knid fur￿$ FIXED A&SErs 20S67 4.475 CURRENT AS￿s Dehtcjrs Cash at bat* and kn hand 4285 248.856 4235 248￿S6 5.533 241,617 253.141 247.150 CREDtTORS (7MO) (Ymo) (6.898) NET CURRENT ASSEfS 244471 245.471 240252 TOTAL ASSEt5 LESS CURRENT 266.138 24138 244,727 NEf ASSErs 266.138 266.138 244.727 FUNDS Lknrestricted ￿ndS 266.138 244.n7 TOTAL FUNDS 266.138 244.727 .. y￿re sy*d ￿ its bth•lf by. - Tru8te• FAIR FROME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings Motor vehicles Computer equipment 15°/o on reducing balan 250/0 on reducing balan 250/0 on reducing balan Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordan￿ with the charitable objectives at the discretion of the trustees. Restricted funds 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 particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 10 continued... FAIR FROME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 1,696 567 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees. expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 259,259 259,259 Investment income 567 567 Total 259,826 259,826 EXPENDITURE ON Charitsble activities General activity 160,025 160,025 Other 987 987 Total 161,012 161,012 NET INCOME 98,814 98,814 RECONCILIATION OF FUNDS Total funds brought forward 145,913 145,913 TOTAL FUNDS CARRIED FORWARD 244,727 244,727 The figures contained in this note relate to the financial year ending 31 March 2023. Page11 continued... FAIR FROME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Motor vehicles Computer equipment Totals COST At 1 April 2023 Additions Disposals 13,365 6,000 21,772 (6,000) 657 1,947 20,022 23,719 (6,000 At 31 March 2024 13,365 21,772 2,604 37,741 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 10,142 4,933 5,443 (4,933) 472 533 15,547 6,460 (4,933 At 31 March 2024 10,626 5,443 1,005 17,074 NET BOOK VALUE At 31 March 2024 2,739 16,329 1,599 20,667 At 31 March 2023 3,223 1,067 185 4,475 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 4,285 5,533 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors 6,568 1,102 5,746 1,152 7,670 6,898 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 244,727 21,411 266,138 TOTAL FUNDS 244,727 21,411 266,138 Page 12 continued... FAIR FROME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resour￿$ Resources expended Movement in funds Unrestricted funds General fund 270,532 (249,121) 21,411 TOTAL FUNDS 270,532 (249,121 21,411 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 145.913 98,814 244,727 TOTAL FUNDS 145,913 98,814 244,727 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 259,826 (161,012) 98,814 TOTAL FUNDS 259,826 (161,012) 98,814 A current year 12 months and prior year 12 months combined position is as follows= Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 145,913 120,225 266,138 TOTAL FUNDS 145,913 120,225 266,138 Page 13 continued... FAIR FROME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming reSoUr￿S Resources expended Movement in funds Unrestricted funds General fund 530,358 (410,133) 120,225 TOTAL FUNDS 530,358 (410,133) 120,225 RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 14 FAIR FROME DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Local giving Sundry income 69,436 4,341 104,178 84.652 5,796 104,284 5,533 28,802 116,870 3,770 268.403 259,259 Investment income Deposit account interest 1,696 567 Other income Gain on sale of tangible fixed assets 433 Total incoming resources 270.532 259,826 EXPENDITURE Charitable activities Wages Pensions Insurance Light and heat Telephone Postage and stationery Advertising Charitable expenditure Repairs & maintenance Furniture storage Motor expenses Travel and subsistence Rent Computer expenses Sundry expenses Subscriptions Training Garden expenses Cleaning & waste 54.773 1.706 2,354 6.535 1,166 694 918 120,179 9,233 41,545 1,063 1,975 1,449 415 1,186 255 76,172 9,745 3,000 2,150 93 12,843 376 1,340 370 1,173 2.903 153 27,668 70 2.191 613 2.901 5,708 240.606 155,150 Other Fixtures and fittings depreciation Motor vehicles depreciation Computer equipment depreciation 483 569 356 62 533 6.459 987 This page does not fomi part of the statutory financial statements Page 15 FAIR FROME DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Support costs Finance Bank charges 184 87 Governance costs Independent examination fee Legal and professional fees 552 1.320 564 4,224 1,872 4,788 Total reSoUr￿S expended 249.121 161,012 Net income 21,411 98,814 This page does not fomi part of the statutory financial statements Page 16