## **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