**REGISTERED CHARITY NUMBER: 1157691** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2024** 

**FOR** 

**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

_“Helping you feed our hungry neighbours”_ 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**||1 to 7||
|**Independent Examiner's Report**||8||
|**Statement of Financial Activities**||9||
|**Balance Sheet**||10||
|**Notes to the Financial Statements**|11|to|16|





**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **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). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

## **OUR OBJECTIVES VALUES AND AIMS OF THE CHARITY.** 

## **Our Objectives are:** 

To relieve persons in central Bedfordshire and the surrounding area that are in poverty or financial hardship in such ways as the Trustees from time to time think fit, in particular, but not exclusively by: 

1. Providing food packages to support individuals and families who are experiencing food deprivation. 

2. Providing other items to meet immediate and essential needs, as resources allow. 

3. Developing other forms of support to meet immediate need and alleviate financial hardship. 

To achieve these objects The Need Project has the following: 

## **Our Values are:** 

We are a Christian organisation motivated by Jesus’ teaching on poverty and injustice. We operate according to Christian principles of compassion, honesty, integrity, openness, kindness and care of all people, regardless of backgrounds or beliefs (or none). We are passionate about inclusion and being non-judgemental is central to what we do.  We believe that everyone has the right to have food on their plate, dignity, skills, a chance to work and hope for the future. 

## **Our Aims are:** 

The Trustees employ a number of strategies to assist The Need Project to alleviate poverty or financial hardship and meet its objectives by: 

- Providing free food parcels. 

- By providing food and other essentials to families and individuals referred to the charity by recognised social work agencies, local authorities, community bodies, churches, charities or other organisations whose purpose includes the prevention or relief of poverty (‘referral agencies’). 

- Developing effective relationships with local councils (County, unitary, parish and town), referral agencies, faith groups and community groups. 

- Ensuring wide community participation in the charity’s projects through giving and raising awareness. 

- ● Developing a culture of lifelong learning throughout the organisation to allow the trustees, core staff and volunteers to do their allotted jobs effectively. 

- Building strong links with the local media, and regularly updating the charity’s website to stimulate public awareness of the charity’s work and the issues facing people in poverty and distress. 

- Setting up social enterprises which add value to the charity’s existing projects by generating surpluses. 

- ● Identifying, evaluating and incorporating best practice in project templates to ensure that projects become self-sustaining and are easy to replicate. 

- Working closely with churches to help the Christian faith community to take a more active, practical and effective role in social action. 

- Providing educational support to enable those referred to become more self-sufficient where it is appropriate, and resources allow. 

## **“OUR” KEY PERFORMANCE INDICATORS** 

We have summarised below the outputs, outcomes, impacts and benefits of the work of the Need Project, but as Christian Charity it is our conviction that the Lord has done His work of meeting peoples’ needs through our labours. 

Page 1 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **WHAT WE HAVE DONE** 

We have established partnerships with the following organisations: 

Page 2 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

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**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

These are the stats for the year _**April 2023 – March 2024:**_ 

Page 4 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **WHAT WE HAVE ACHIEVED** 

Record number of food parcels delivered – an increase of 54% on the previous year.Our updated website, which now includes an online referral system which reduces the hands-on administration of this key process and has significantly improved our operating efficiency. 

## **WHAT DIFFERENCE WE HAVE MADE** 

## **A sample of expressions of gratitude from those we are called to serve** 

Would like to send a massive thank you to Gordon and the team for once again supporting our young Carers group. Last month we were able to teach valuable life skills to a group of young people. We cooked spaghetti Bolognese from Scratch and Garlic bread, and all sat down together to eat. This was amazing and wouldn’t have been possible without the NEEDS support. 

I would like to say a huge thank you for the gifts you gave us at the women's refuge in Biggleswade. I personally am overwhelmed and so, so grateful to you all. It means so much. Well done for all that you do. Wishing you all a very Merry Christmas and a Happy New Year. 

The Client advised the food parcel was delivered yesterday and the people who came to her property were lovely. She said she is very grateful for all the support. She said the lady had previously been to the property and she is particularly thankful to her. 

## **PROJECT LEADER’S REPORT** 

It goes without saying we are so busy. In the last year our parcels have gone up from approximately 550 a month to 847 which represents a 54% increase. This is something we expected, because year after year it gets busier, but this increase has been larger than we expected. But we are managing to keep up with demand at the moment. 

On top of that we give away 369 bags of “best-before” food in January. Which, unless we gave it away, would end up in landfill this is valued at approximately £3,690. These figures reflect how sad and worrying it is for those people with families, who are experiencing food poverty. We are committed to keep on trying to help sourcing food and getting it to those who need it as quickly as we can. We have a referral system in place, which means that every person who has our food, as far as we can be sure, is in real need. 

We have an amazing group of over 60 volunteers, who put in at least 300 hours a week of labour. Without those people we would not be able to function correctly or do anything like we do now. For those people I’m so so grateful. 

We have two vans on the road, 5 to 6 days a week, which pick up food or are delivering food parcels, throughout Central Bedfordshire and surrounding areas. We also have a massive following on Facebook, with many followers, who when we need them, respond incredibly well and are always interested in what we are doing. 

Page 5 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

The project functions, with hubs throughout Central Bedfordshire and beyond. We now have packing and delivery hubs in Cranfield, Flitwick, Stotfold, Gamlingay and Biggleswade. This ensures a swift response to need 

Last year, in my report, I said we are looking for a permanent home for the project. We believe we have now found it and are in the process of purchasing it and hopefully we will get the key soon.  We can develop it, so we don’t have to rent premises anymore and have somewhere permanent to develop, to suit our growing ministry. 

We have made some friends and been involved in some amazing situations and also some sad ones, but it is a joy to be involved, and we thank God for that. 

Whatever happens next, our priority is, was and always will be feeding our neighbour along with anything else that we can do. 

We continue to be amazed by God's amazing provision for this project and we realise the massive responsibility we have to serve correctly in a Christ Like manner. 

In closing we have no idea where this project is going to lead us. All we know is that God's favour is upon our project and as long as he does that and we keep in step with Him, it’s a great place for us to be. 

Thank you. 

Praise God Always. 

Gordon https://theneedproject.org 

## **TREASURER'S REPORT** 

The results for the year show an income of £368,334 (2023:£212,113) and expenditure of £273,265 (2023: £197,957) resulting in a surplus of £95,069 (2023: £14,156). 

As part of the income relates to donations for the development of the charity, these are shown separately in a designated fund. 

The reserves as at 31 March 2024 were: 

- General fund £123,952 

- Development fund £120,000 

- Operational reserve £65,988 

## **FUTURE DEVELOPMENTS** 

Our main goals for the project are to ensure our long-term sustainability, and increase our operational efficiency, which includes: 

- Purchase and develop Stotfold Methodist Chapel as the new operational centre and a new Community Centre 

- Secure funding to realise the above goal and sustain the purchase of food in bulk to meet the demands food poverty in our region 

- Appoint a new chair of trustees 

- Appoint a new Project Leader by mid 2025 

Page 6 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **TRUSTEES** 

Potential trustee candidates are normally referred by trusted local church leadership. We would normally expect the candidate to have good standing within their church, have Christian values and have referees that can attest to their suitability. Discussions would be had with the candidate to inform them more about the work of the charity and role as a trustee. If they wish to proceed then this is discussed at the following trustees meeting and, if there is unanimous agreement, the person is elected as a trustee. 

## **RESERVES POLICY** 

As trustees we have set a prudent financial reserves policy to ensure that the ongoing financial commitments of the charity can be met. The reserves amount is set at 6 months of normal operating expenditure, excluding food. This is calculated twice per year and the figure used in the accounts for the following 6 months. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1157691 

## **Principal address** 

## **Trustees** 

R H Cain Mrs D M Addams G Hamilton I D Adams Mrs S Cain S J Backhouse D Deards 

## **Independent Examiner** 

Neil C Harding FCA Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ 

Approved by order of the board of trustees on 19 February 2025 and signed on its behalf by: 

Bob Cain, Chair of Trustees 

Page 7 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **Independent examiner's report to the trustees of The Need Project Central Bedfordshire** 

I report to the charity trustees on my examination of the accounts of The Need Project Central Bedfordshire (the Trust) for the year ended 31 March 2024. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than 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. 

Neil C Harding FCA 

Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ 

Date: 19 February 2025 

Page 8 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

|31.3.24<br>Unrestricted<br>funds<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>348,976<br>Other trading activities<br>3<br>17,170<br>Investment income<br>4<br>2,170<br>Other income<br>18<br>**Total**<br>368,334<br>**EXPENDITURE ON**<br>Raising funds<br>5,511<br>**Charitable activities**<br>Running food bank<br>267,754<br>**Total**<br>273,265<br>**NET INCOME**<br>95,069<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>214,871<br>**TOTAL FUNDS CARRIED FORWARD**<br>309,940|31.3.23<br>Total<br>funds<br>£<br>190,044<br>17,998<br>502<br>3,569|
|---|---|
||212,113|
||-<br>197,957|
||197,957|
||14,156<br>200,715|
||214,871|



Page 9 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **BALANCE SHEET** 

## **31 MARCH 2024** 

|31.3.24<br>Unrestricted<br>funds<br>Notes<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>9,024<br>**CURRENT ASSETS**<br>Stocks<br>9<br>12,830<br>Debtors<br>10<br>32,903<br>Cash at bank<br>256,383<br>302,116<br>**CREDITORS**<br>Amounts falling due within one year<br>11<br>(1,200)<br>**NET CURRENT ASSETS**<br>300,916<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>309,940<br>**NET ASSETS**<br>309,940<br>**FUNDS**<br>12<br>Unrestricted funds<br>309,940<br>**TOTAL FUNDS**<br>309,940|31.3.23<br>Total<br>funds<br>£<br>13,536<br>17,161<br>-<br>184,174|
|---|---|
||201,335<br>-|
||201,335|
||214,871|
||214,871|
||214,871|
||214,871|



The financial statements were approved by the Board of Trustees and authorised for issue on 19 February 2025 and were signed on its behalf by: 

S J Backhouse - Trustee 

Page 10 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

## **1. 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 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)', 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. 

The Need Project Central Bedfordshire meets the definition of a public benefit entity under FRS102. 

## **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. 

Motor vehicles 

- 20% on cost 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance 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. 

## **Irrecoverable vat** 

Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 

## **Cash & cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

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**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Gift aid<br>Grants<br>Grants received, included in the above, are as follows:<br>Government / Local Authority<br>Business<br>Charities / Trusts<br>Church<br>Schools<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>Fundraising<br>**4.**<br>**INVESTMENT INCOME**<br>Deposit account interest|31.3.24<br>£<br>97,052<br>8,073<br>243,851<br>348,976<br>31.3.24<br>£<br>129,310<br>21,394<br>76,264<br>11,599<br>5,284<br>243,851|31.3.23<br>£<br>34,797<br>-<br>155,247<br>190,044<br>31.3.23<br>£<br>94,274<br>17,638<br>27,740<br>11,760<br>3,835<br>155,247<br>31.3.23<br>£<br>17,998<br>31.3.23<br>£<br>502|
|---|---|---|
||31.3.24<br>£<br>17,170<br>31.3.24<br>£<br>2,170||



## **5. TRUSTEES' REMUNERATION AND BENEFITS** 

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** 

Mileage costs were paid in the year to R H Cain, one of the Trustees, of £1487 (2023: £860) to cover the cost of delivering food parcels. 

Page 12 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

## **6. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

|||31.3.24|31.3.24|31.3.23|
|---|---|---|---|---|
||Food bank staff||4|4|
||No employees received emoluments in excess of £60,000.||||
|**7.**|**2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||||
|||||Unrestricted|
|||||funds|
|||||£|
||**INCOME AND ENDOWMENTS FROM**||||
||Donations and legacies|||190,044|
||Other trading activities|||17,998|
||Investment income|||502|
||Other income|||3,569|
||**Total**|||212,113|
||**EXPENDITURE ON**||||
||**Charitable activities**||||
||Running food bank|||197,957|
||**NET INCOME**|||14,156|
||**RECONCILIATION OF FUNDS**||||
||Total funds brought forward|||200,715|
||**TOTAL FUNDS CARRIED FORWARD**|||214,871|



Page 13 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

## **8. TANGIBLE FIXED ASSETS** 

|**8.**|**TANGIBLE FIXED ASSETS**|||
|---|---|---|---|
||||Motor|
||||vehicles|
||||£|
||**COST**|||
||At 1 April 2023 and 31 March 2024||22,560|
||**DEPRECIATION**|||
||At 1 April 2023||9,024|
||Charge for year||4,512|
||At 31 March 2024||13,536|
||**NET BOOK VALUE**|||
||At 31 March 2024||9,024|
||At 31 March 2023||13,536|
|**9.**|**STOCKS**|||
|||31.3.24|31.3.23|
|||£|£|
||Stocks|12,830|17,161|
|**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31.3.24|31.3.23|
|||£|£|
||Grants|25,000|-|
||Gift aid|7,903|-|
|||32,903|-|
|**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31.3.24|31.3.23|
|||£|£|
||Other creditors|1,200|-|



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**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

## **12. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>Designated - Development fund<br>Designated - Operations reserve<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>**Comparatives for movement in funds**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>Comparative net movement in funds, included in the<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Net<br>movement<br>At 1.4.23<br>in funds<br>£<br>£<br>214,871<br>95,069<br>-<br>-<br>-<br>-<br>214,871<br>95,069<br>214,871<br>95,069<br>follows:<br>Incoming<br>resources<br>£<br>368,334<br>368,334<br>At 1.4.22<br>£<br>200,715<br>200,715<br>above are as follows:<br>Incoming<br>resources<br>£<br>212,113<br>212,113|Transfers<br>between<br>At<br>funds<br>31.3.24<br>£<br>£<br>(185,988)<br>123,952<br>120,000<br>120,000<br>65,988<br>65,988<br>-<br>309,940<br>-<br>309,940<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(273,265)<br>95,069<br>(273,265)<br>95,069<br>Net<br>movement<br>At<br>in funds<br>31.3.23<br>£<br>£<br>14,156<br>214,871<br>14,156<br>214,871<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(197,957)<br>14,156<br>(197,957)<br>14,156|
|---|---|---|



Page 15 



**THE NEED PROJECT CENTRAL BEDFORDSHIRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **12. MOVEMENT IN FUNDS - continued** 

## **Designated funds** 

The designated development fund includes donations received towards the longer-term development of the charity, including the purchase of a permanent home for The Need Project. 

The designated operations reserve provides for 6 months operational costs, excluding buying food, in line with the reserves policy. 

## **13. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2024. 

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