REGISTERED CHARITY NUMBER.. I I5769A REPORT OFTHE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS R THE PERI DIA RIL 24T I DECEMBER 2024 THE NEED PROJECT CENTRAL BEDFORDSHIRE NTEN FTHEFI AN IAL R THE PF.RIOD I APRIL 2024 T TATEMENT I DFCEMBF.R 2 24 Page Report of the Trustees Independent ExAmlD¢r'$ Report Stat¢ment of Flnan¢lal Aellvltlts BAIAnee Sheet Nott$ lo the FlnAnelal Statemcnts 10- 15 THE NEED PROJE￿ CENTRAL BEDFORDSHIR REPORT OF THE TRUSTEES FOR THE PERIOD I APRIL 2024 TO 31 DECEMBER 20 The Inislecs prcsenl their reporl wilh ihe financial slaleinei)ts of Ihe cliarily for Ihe period l April 2024 J l Dccci]Ibcr 2024. Thc trLlStecs have adoplcd Ihe provisions of AccoLinting and Reporting by Charities.. Statement of Recommend￿ Praclicc applicablc to charilics preparing their accounls in accordance will) the Financial Reporting Standard applicabl¢ in the UK ond Republic of (FRS 102) {eff￿lIve l January 2019). STRUCTURL GOVERNANCE AND MANAGEMENT Gov¢rnlng do¢um¢nt The chariry is controlled by its governing document, a deed of trust and constitutes an unincorporaled charity. OUR OBJECTIVES VALUES AND AIMS OF THE CHARITY. Our Objettlves Are: To relicve persons in cenlral Bedfordshire and tlie surrounding area tliat are in povcrty or finai)cial hordsliip in sucl) ways as Ihe Trnstees from lime lo lime tliink fil, in particular, but nol excllisively by.. ProvidinB food pckn8es to support individuals And families who ftre experieiieing food dcprivalion. Providin8 Other ileins 10 meet Immedia￿ and essenlial needs, as resources allow. Developii)g ollier fonns of supporl lo meel iinm¢diale need aiid allevinle financial hardsliip. To acliieve il)es¢ objecis The Need Project has the following,. Our VAlueg Are: We are a Clirislian orgaiiisalion molivalcd by Jcsu¥' leaching on povcrly and injuslicc. Wc Or￿Tale a¢cordin&v lo Christian principles of compassion, honesty, inle¥rily, openncss, kindness and carc of all p¢ople, rebyardless or b&ckgmLinds or beliefs (or none). We are passion8le about inclu&ion And bein8 non-jLid8eineniil is cenirnl to wliul wc do. We believe tliat everyone l)a$ the righi io l)av¢ food on Ih¢ir plaie, dignity, skills, a cliance io work and IK)pe for the tiitLire. Our Alm$ Ar¢: The Trustees employ a number ot strategies lo assisl The Need Project to alleviate poverty or financial hardship lind meet its Objeciivcs by.. Providing free food parcels. By providing food and oilicr csgenlials to foniilies 01)d individuals referrcd lo the cl)ariiy by recoBnis¢d social work agcncies. local lluilioritie8. coinmunity bodies, cliurclies, charilies or oil)er orgoiiisaiions whose piirpose includes Ihc prevenlion or rclicfofpoverty {'refe￿al a¥eies'l. Dev¢lopinLi ¢tTeKliv¢ relalionsl)ip$ wilh local ¢oun¢ils (Couniy. iinilary, pari$h and town), refcrral a¥¢ncics, foiil) groups and coniinunily 8roups. EnsLirin8 wide cominLinily paflicipAiion in Ilic cliarily's projccis Ihrou8118ivin8 and raising awiir¢nes$, Developin8 a culiure of lifclonB Icarnin8 Ihroii8lioul Ilic or8anibalion lo allow Ili¢ Inisices, core slafy and voliinieers lo do their allotted job4 effectively. Biiilding Strong links wilh Ihe locul Inedia and rcgularly iip(laling th¢ cliarily's w¢bsit¢ 10 stiniiilllte public awar¢n¢ss of thc ¢h&rily's work and (h¢ issii¢s fa¢in8 peoplc in poverty ttnd distrcss. Selling lip social enlerprises which add value lo Ihe Lharity's exisling proj¢¢ls by genernling SLirpliises. Identifyii)g* Lvaliiating and inLorporating b¢st Pf&LliL¥ in proj¥Lt t¥mplat¥s to vnsure thllt projccls b￿.0m¥ self_susthining and are easy to replicate. Workii)g closely iviih churches to help the ChrisiiAn faiih eoinn)unity to take a inore active, pr&)etieal and effcctivc rolc in social action. Providing educational sUp￿)rI ￿ enable ihose referred 10 becom¢ more gclf-sufficient where il is approprialc. and resources alloiv "OURTr KEY PERFORMANCE INDICATORS We have sumniarised below Ihe ouipilts, oLilconi¢s, iinpacls and ben¢fils of Ilie work of ilie N¢Ld Proje¢l, bill us Clirislian Cl)arily it is oiir conviction tliat ihe Lord lias done His work of meeting rKoplcs' ne¢ds Ihroii&ili oiir lobours, Pa8e I THE NEED PROJECT CENTRAL BEDFORDSHIRE REPORT OF THE TRUSTEES R THE PERIO PRIL 2024 TO 31 DECEMBE 24 WHAT WE HAVE I)ONE Wc l)avc cslablishcd partnersliips with the following organisations- Community Supporters , VAPw>J j eAhrI￿d UDJkrdty Henlow LABURNUM I￿￿Trt4¥4¢¥j¥ry li Lawnslde uk ROECROFT Ioliei Schfjo '•tlf.iJ P*8e 2 THE NEED PROJEcf CENTRAL BEDFORD HIRE REPORT OF THE TRUSTEE PRIL 2024 TO 31 DECEMBER 2024 Busines5 - Best Before eo op M&S Salnsbury¥ B¢%lge Ftsrni Sli TESCO Frn B•skel WAITRQSF. Councils r** I C.enriJl 8odtordshlie -oiincil Flii*riek Ti)wn Covi)rll I, l SET lock.* l)oblor$ 10 17.439 3?3.749 3?.903 256.IN3 349.056 CREDITORS Amounls Idllwi¥ du¢ witliin onc ycur 123.04U} 11.20UI NET CI'RRENT ASSF.TS 31(•.Olf? 300.916 I'OT'AL ASSLTS LESS CI'RRENT LIABILITIES lJlh56 .109.940 NF.T ASSTr:'I'S FUNDS Unr¢stri¢i%xi fundiTr 331.1156 .1011.940 'I'OI'AL Tr'UliDS J.I1.656 31)i).I140 ThL finaniiol sl¥i¢mLnlti w¥r¢ llpprol'kd b>. Ihi Bourd of Tru&tL¢S And nuilK¥ri%¢d Iilf t%%ue on 2Q Apnl 2025 and WLif si¥iILd oil Il% bL.huli'h)': S J l5alatr￿￿y¢- Tru￿¢￿. ThL ntsi¢s lomi port vfikn'¥L' fina￿117 JlulLinenis THE NEED PROJECT CENTRAL BEDFORDSHI NOTES TO THE FINANCIAL STA TEMENTS IUL 2024 TO 31 DECEMBER 2024 FOR ACCOUNTINC POLICIES Balls of preparlng the flnanclal statements The finaniitsl statements of the chari¢y. which is a piiblic beDefi¢ entity iin(Icr FRS 102, have been pr￿paT￿ in accordance with the Cl)arili¢s SORP (FRS 10?) 'Accouniing and Reporting by Charili¢s.' Siaiemeni of Recommended Practice applicable to charilies preparing their accounls in accordai)c¢ with thc Financilll Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102) (effective l Januhry 2019),, Financial Reporting Sland&rd 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Aci 2011. Tlie financial sraienienls have been prepared under the historical cost convention. Tlie Need Project Centrnl Tkndfordsliirc Ineeis ihe definiiion ora pvblic benefit enlily under FRS 102. Ineome All incom¢ is recognised in the Statemei)l of Financial Activities once Ihe charity hfts cnlitlcmeni io the fui)ds. it is probable that th¢ income will be received and the amount can be rneasured reliably. Exptndltu Li&bililies are recosnised as expenditure 05 500n os Illere is a legal or conslrnclive obligation commilling Ilie cliority ¢0 Ihni expendirure. il is probable that a Iransfer of economic bcnefils will be required iii s¢ltlcineni and Il)e amounl of Ihe obligalion cali be nieasuwed reliably. Expendilure is accounied for on an accruals basis and l)as been Llassified under headings Iliat aggregate all Lost reldied to Ihe ¢aleLFory. Wliere cosls cai)nol be dir¢¢lly tlribiiled Io particiilar headings Ihey have been allocale(I Io Qclivities on a bosis consisleiil will) Il)¢ iise of rcsoli￿.¢$. TAnglble flxed issetg Depreciation is provided at the followin8 anniial rfilcs in ordcr to writo o(f ench assct over its esliiiiaicd us¢ful life. Motor vehicles 200/0 on cost Siocks arL v￿lUed ai ilic low¢r of¢oyl and n¢1 ￿n71Sable vgluo, aftcr InnkinB duL llllowanLc for obsolelc and slow Inovins ileiiis. Tlxgtlon Th¢ Chariiy is exempi from lax on lis charithblc uctivities. Fund lccounilng Unrestricted funds Con bc uscd in Jccordnnce with Ihe charilfible objectives al the discretion of th¢ irusiees. Resiricied funds e&n only be used for particular restricted purposes wiihin tlie objects ol. the cliarily. Reslriclions aris¢ wlien $pecifi¢d by tlie donor or wlien funds are raised for porticular resiricied purposeg. Fiirther explanaiion of ihe n11 (ure 11 nd piitwse of each fiind is included in th¢ notes to the financial sthlcnients. Irreeoverable vat Irrecoverable VAT is charged against the calegory of resources expended for which il was incutTed. CAsh & cash cqulvnlents Casl) and ca￿) equivalenis comprise cash oli l)and and call deposi15, and oilier sliorl-leriii Iiighly liquid inveslnienrs thai are readily convertible to a known ainount of Cli81) and are %ubjecl lo an iiisignificant risk of change in value. Pag¢ 10 THE NEED PROJECT CENTRAL BEDFORD HIRE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE PERI DIA EMBER 2024 DONATIONS AND LEGACIES Period 1.4.24 lo 31.12.24 Y¢ar FndLd Donatio￿8 Gitl aid GTants 41,478 7.130 164317 97.052 8.073 243.851 212925 348 976 Grants received, iiicluded in Ihe above. are as follows.. Period 1.4.24 lo 31.12.24 Year Ended 31.3.24 Govcrninenl l Local Autliority Busin¢&% Charilivi l Trusis 62,510 7.560 85,094 7,639 129,310 21.394 76.264 11.599 Scliools 164.317 243,851 OTHER TRADING AcfiviTIES Period 1.4.24 Y¢ar Ei)dcd 31.3.24 31.12.24 Fiindrnising 17.170 INVESTMENT INCOME Period 1.4.24 lo 31.12.24 Ycar Eiided 31.3.24 Deposit a¢¢oiinl inl¢rcsl 2.170 Page 11 HEN DPR TE TH MENTS- eontinued OD I APRIL 2024 TO 31 DECEMBER 2 24 TRUSTEES, REMUNERATION AND BENEFITS Included in staff costs is remuneration paid to two trustees. Both truslees wer¢ employed by the charity before their appointment. Their remuneration r¢late8 solely lo their employment activities they receive no remuneralion for being a trustee. The ￿h¢r trustees (who receive no remuneration for this role) agreed to this arrangement as it was beneficial for the charity and agree any changes to the remuneration. This has been the position for the period ended 31 December 2024 and for the year ended 31 March 2024. Trustees, expenses Mileage costs were paid in the year lo R H Cain. on¢ of ihe Truslees. of £1,114 (2023: £860) to cover the cost of delivering food parcels. STAFF COSTS The average mc￿thlY number of employees during the period was as follows.. Period 1.4.24 to 31.12.24 Year Ended 31.324 Food bank stsff No employees received emoluments in excess of £60,0(N). 2024 COMPARATIVES FOR THE STATEMENTOF FINANCIAL AcfiviTIES Unrestricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 348,976 Other trading activities Inveslmenl income Other income 17,170 2,170 18 Total 368 334 EXPENDITURE ON Raising funds 5,511 Charltable aetlvllles Running food bank 267 754 Total 273,265 NET INCOME 95,009 RECONCILIATION OF FUNDS Total funds brought forward 214,871 TOTAL FUNDS CARRIED FORWARD 309.940 Page 12 NEED PR T CENTRAL BEDfiORDSHIRE TO THE NCIAL STATEMENTS - eontlnutd FOR THE PERIOD I AP 024 TO EMBER 24 TRUSTEES, REMUNERATION AND BENEFITS There were no trugtees, remiineration or other benefils for the period ended 31 Deeeinber ?024 nor for the y¢ar ¢nded 31 March 2024. Trustees, expens¢$ Milcage cosis were paid in ihe year to R11 Cain. oiie of the Truslecs, of £1487 (2023,. £860) 10 cover Ihe cthsl of delivering food parcels. STAFF COSTS Tl)e average Inontllly nuinbcr of eniployees durin¥ Ihc pcriod was as follows.. Period 1.4.24 to 31.12.24 Year Ended 31.3.24 Food bank staff No cniployecs received eiholumcnts in excess of £60.(KIO. 2024 COMPARATIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES Unrcslricl¢d funds INCOME AND ENDOWMENTS FROM Donations and legacies 348.976 Olher irndiiig UCiivilie$ Invcstinenl incomc Other inooinc 17.170 2.170 Total 368.334 EXPENDITURE ON Raising fiinds 5,511 Charltable Aetlvltl Riiiini118 food bai)k 267 754 Totthl 273.265 NET INCOME 95,069 RECONCILTATION OF FUNDS Tolal funds broughi forward 214.871 TOTAL FUNDS CARRIED FORWARD 309.940 Page l? PROJECT CENTRAL BEDF RE OTES TO THE FINA RIOD I AP TATEMENTS - contlnued 24T031DE ER 2024 TANGIBLE FIXED ASSETS Motor vchiLIcs COST At l April 2024 and 31 December 2024 22.560 DEPRECIA TION At l April 2024 Char8¢ for year 13.536 At 31 December 2024 NET BOOK VALUE Ai 31 Decen)ber 2024 5.640 Ai 31 M&rcli 2024 9.024 STOCKS 31.12.24 31.3.24 Stocks 7.8611 io. DF.BTORS: AMOUi¥TS FALLING DUE WITHIN ONE YEAR 31.12.24 31.J.24 Other debiors Granis Gift aid Prepaymenls 1,660 25,000 7,903 15,033 746 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE VFAR 31.12.24 31,3.24 Oil)er creditors 23,040 200 12. MOVEMENT IN FUNDS Nel movement in fiinds Trhnsfers b¢lw¢en funds At 31.12.24 Ai 1.4.24 Unre8¢rlet¢d (unds General fund Dcsignaled - Development fund tksignaied - Opcralions re8crvc 123.952 120.000 (13.284) 3S,000 {6,282) 104.3R6 155.000 72.270 6.2112 331 656 TOTALFUNDS 309.940 21.716 331.656 Pagc 13 HE NEED PROJECT CENTRAL BEDFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS- eonllnut FOR THE PERIOD I APRIL 2 CEMBER 2024 12. MOVEMENT IN FUNDS- continued Nct Inovement in funds. included in the above are as follows: Incoming rcsources Resources expcnded Mov¢ment in funds Unrestrlcted funds GenerJl fund Desigi)aled - Devclopm¢ni fund 196,206 35.000 {209,490) (13.284) 231206 209 490) TOTAL FVNDS 231206 209 490) ComparAtlve8 for mov¢ment In fundi Nel n)oven)enl in fund$ Transters between funds At 31.3,24 At 1.4.23 Unrestrleted Th•fids Cjenernl fund DL¥ignaied - Developi))¢ni (und Designthled - Operulions T￿erVe 214.871 95,069 (185.988) 120,0(K) 65,988 123.952 120.000 214871 TOTAL FUNDS 214871 95.069 309.940 Comparaiive nei niovenienl in funds. included in th¢ above Dre as lollows,. IIKoniin rcsourccs Resources cxpended Moven)eiii li) fund5 un￿StrIcted fund$ General fund 368,334 (273,265) 95,069 TOTAL FUNDS 368.334 273,265) 95.069 Deslgnatcd funds Tl)e designthicd developineni fund incllidcs donthiions reccived ioiyards Ihc longcr-lcnii developnieni ol. thc Lliurily. including Ihe purcliase ofau permancnl l)ome for The Nccd Projecl. Tlie dcbignalcd upcralions rc¥erye provides for 6 rnnili¥ QP¢rnlioTr&l co%ls, ¢xcludin¥ buyin￿ lood, in linc willi tlie rcserves poliLy. Pag¢ 14 THE NEED PROJECT CENTRAL BED RDSHIRE NOTES TO THE FINAN IAL FOR THE PER APRIL 2 TEMEN 0 31 DECE nlinued ER 2024 13. RELATED PARTY DISCLOSURES There wer¢ no related party irnnsallions for the pcriod ¢nd¢d 31 Dcceinber 2024. Page 15