Stockport Foodbank, Financial statements for the year ended 31 March 2024
Trustees Report
The Trustees present their report for the year ended 31 March 2024
The list below shows the appointed Trustees and their dates of appointment
| Trustee | Appointed |
|---|---|
| Gary Blackwell | March 2014 |
| John Bulman | May 2014 |
| Nigel Tedford | May 2015 |
| Julian Poyner Chairman | August 2016 |
| John Watkins | June 2020 |
| Nicky Owen | June 2020 |
| Rev Maisie Veacock | March 2022 |
Principal address
Hazel Grove Baptist Church, Station Street, Hazel Grove, Stockport SK7 4EX
Principal Bankers
Royal Bank of Scotland, Albert House, 2 Station Road, Cheadle Hulme, Cheshire SK8 5AE
Status
Stockport Foodbank is a Charitable Incorporated Organisation, Registered Charity No: 1156261 It is connected to the Trussell Trust, a nationwide network of Foodbanks.
Aims and objectives
To provide short term assistance in the form of emergency food parcels to anyone who faces short term difficulties through unemployment, benefit delays, low income or other financial difficulties. Clients are provided with a nutritionally balanced supply of food, sufficient for 3 days and should their needs persist then further assistance through the Foodbank will be available.
Foodbank volunteers seek to refer clients to other support agencies through whom they can obtain longer term.
Summary
Income
The total income during the year of £259,318 (2022/3 £310,318) was mostly from donations received from individuals, companies and other organisations plus an element of ring fenced income, which came from the Trussell Trust, to fund our contract with the Citizens Advice Bureau.
Expenditure
The total expenditure of £160,865 (2022/3 £136,702). The main areas of expenditure were food purchases, employment costs, CAB support services and warehousing.
Notes
This financial year has followed the pattern of recent times with the challenges on Foodbank volunteers and services being as pressured as in the past. The cost of living crisis has had an impact on our level of donations from the public and whilst in the short run this has been met by the Foodbank buying food in bulk, this is unsustainable in the long run and measures may have to be put in place to ‘cap’ foodbank usage if these circumstances prevail. Our resources are adequate to meet this need in the short to medium term, however it is clear that the presence of Stockport Foodbank in the area is here to stay for some time to come and will in turn affects our future planning.
These accounts have been prepared in accordance with the charity commission guidelines for an Independent Examination and are presented for your approval.
The attached income and expenditure account & balance sheet relating to the year ended 31 March 2024 are approved by the Trustees
Nigel Tedford Trustees
Stockport Foodbank Accounts 31 March 2024
Stockport Foodbank Profit and Loss Account for the year ended 31 March 2024
| Sales Other direct costs Gross profit Other income/profits Expenses Employee costs Premises costs General administrative expenses Motor expenses Legal and professional costs Depreciation and loss/(profit) on sale Profit |
2024 £ 259,318 49,761 209,557 2,918 80,523 14,130 31,264 1,269 30,979 2,700 160,865 51,610 |
2023 £ 310,318 38,440 |
|---|---|---|
| 271,878 | ||
| 536 71,859 12,708 21,776 1,848 25,695 2,816 |
||
| 136,702 | ||
| 135,712 |
1
Stockport Foodbank Balance Sheet as at 31 March 2024
| Notes Fixed assets Motor vehicle 2 Current assets Virgin Bank Kingdom Bank Natwest Natwest - restricted funds Shawbrook bank Cash in hand Net current assets Net assets Capital account Balance at start of period Net profit |
110,168 88,454 175,531 14,659 85,000 258 |
2024 £ 10,800 474,070 |
- 85,536 250,716 83,250 - 258 |
2023 £ 13,500 419,760 |
|---|---|---|---|---|
| 474,070 | 419,760 | |||
| 484,870 | 433,260 | |||
| 433,260 51,610 |
297,548 135,712 |
|||
| 484,870 | 433,260 |
I approve these accounts and confirm that I have made available all relevant records and information for their preparation.
Nigel Tedford
Trustee
2 September 2024
2
Stockport Foodbank Notes to the Accounts
for the year ended 31 March 2024
1 Profit and loss account analysis
| Sales Donations - restricted Donations Other direct costs Food purchased for distribution Other income/profits Interest receivable Employee costs Wages and salaries Premises costs Rent & rates, Heat & light General administrative expenses Telephone & postage Stationery,printing & advertising Client gift vouchers Subscriptions & other professional costs Equipment expensed Sundry expenses Motor expenses Motor expenses Legal and professional costs CAB Insurance Depreciation and loss/(profit) on sale Depreciation Profit on sale of fixed assets |
2024 £ 45,000 214,318 259,318 49,761 2,918 80,523 14,130 1,490 1,363 19,465 3,756 1,944 3,246 31,264 1,269 30,341 638 30,979 2,700 - 2,700 |
2023 £ 83,250 227,068 |
|---|---|---|
| 310,318 | ||
| 38,440 | ||
| 536 | ||
| 71,859 | ||
| 12,708 | ||
| 791 1,933 11,342 2,525 2,999 2,186 |
||
| 21,776 | ||
| 1,848 | ||
| 24,525 1,170 |
||
| 25,695 | ||
| 4,500 (1,684) |
||
| 2,816 |
3
Stockport Foodbank Notes to the Accounts
for the year ended 31 March 2024
2 Motor vehicles
| Motor vehicles | |
|---|---|
| Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Motor vehicles £ 18,000 |
| 18,000 | |
| 4,500 2,700 |
|
| 7,200 | |
| 10,800 | |
| 13,500 |
4
Independent examiner's report on the accounts
| Section A Independent Examiner’s Report | Section A Independent Examiner’s Report |
|---|---|
| Report to the trustees On accounts for the year ended Set out on pages Responsibilities and basis of report Independent examiner's statement |
Charity Name Stockport Foodbank 31stMarch 2024 Charity no (if any) 1156261 Balance sheet & Profit & Loss ) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2024 As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW |
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
• the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Signed: Date: 02/09/24 Name: Martin Seitler Relevant professional ICAEW qualification(s) or body (if any):
Oct 2018
IER
1
Address: Unit 4 , The Cottages, Deva Centre, Trinity Way, Manchester M3 7BE
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
Oct 2018
IER
2