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2024-07-31-accounts

FULL CIRCLE FOOD PROJECT

REPORT AND FINANCIAL STATEMENTS For the year ended 31 July 2024

Charity Number 1158829

FULL CIRCLE FOOD PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the year ended 31 July 2024

Contents Page
Trustees annual report 1 to 5
Independent examiners report 6
Statement of Financial Activities (including 7
income and expenditure account)
Balance sheet 8
Notes to the financial statements 9 to 18

FULL CIRCLE FOOD PROJECT TRUSTEES ANNUAL REPORT

For the year ended 31 July 2024

The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 31 July 2024.

The financial statements comply with the Charities Act 2022, the Memorandum and Articles of Association, and 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 October 2019).

1. Objectives and Activities

The objectives of the Charity are:

  1. Provide comprehensive food education programmes that teach individuals of all ages about the importance of nutrition, cooking techniques, and the impact of food choices on health and the environment.

  2. Equip individuals with practical skills to grow their own food through community gardens, supporting local allotments, and promoting sustainable food production.

  3. Foster a sense of community and collaboration by organising cooking classes, workshops, and events that bring people together to share knowledge, experiences and celebrations around food.

  4. Implement initiatives to reduce food waste by educating on proper storage, meal planning, and creative use of leftovers.

  5. Advocate for policies that promote food security, equitable access to healthy food, and sustainability in food systems.

Objectives, strategies and activities for the year

Our vision of Full Circle Food Project is to empower individuals and communities to thrive with the knowledge and skills to cultivate a healthy, sustainable lifestyle. We will achieve this through education, hands-on cooking experiences, urban gardening initiatives, and practical strategies to minimise food waste. We aspire to create a future where everyone has access to nutritious food, understands its value, and embraces sustainable practices. We have an annual income of £218,192 and make an operating surplus of £18,362, attributable to unrestricted funding. We will employ seven people, mainly engaged in direct delivery programmes, with an appropriate level of administrative support. We have engaged in apprenticeship and volunteering programmes which has added value to our service over the past 12 months.

Core Activities:

  1. We have increased the quality, quantity and range of our core programme for regular and new beneficiaries.

  2. We have increased the number and range of beneficiaries accessing our core programme.

  3. We have provided quality learning and support for an appropriate and diverse range of volunteers 4. We have engaged in an apprenticeship programme and have recruited an apprentice into the role of Marketing and Communications Officer which has helped us grow the capacity within the organisation and helped us build stronger relationships within our communities.

  4. We have developed and implemented a robust framework for measuring the impact of our work

  5. We have maintained and built upon our extended range of effective collaborative networks.

  6. We have promoted and celebrated our achievements with our stakeholders, highlighting the impact our contribution has made.

  7. We have drawn on technological expertise, skills and knowledge to build our organisation’s profile, image and reputation

  8. We have developed a financial sustainability plan and aligned policies

  9. We have ensured that our staff and Board of Trustees are fully supported in the pursuit of their roles on behalf of Full Circle Food Project.

1

2. Public benefit statement

The trustees understand the implications of the Charities Act 2006, which states that charities must demonstrate they are established for Public Benefit. The trustees believe that the charity meets the key principles of the guidance issued by the Charity Commission about Public Benefit.

3. Contribution by Volunteers

We had 20 volunteers in this financial year who have played a crucial role in enhancing the delivery of our services across the different projects. We have been able to deliver more supported activities through the aid of volunteers.

4. Achievements and Performance

Full Circle Food Project has worked hard to maintain and expand our services over the past year.

We have engaged with over 2648 people and delivered over 360 interactions. All interactions were designed to invite a healthier lifestyle with a holistic view of health encompassing physical, emotional and social wellbeing while recognising the health inequality and challenges caused by deprivation and poverty. Working with partners, we have been able to establish specific programmes to meet local needs, particularly supporting the mental health recovery of those individuals who are negatively impacted by isolation. Poverty remains a key issue for our community.

==> picture [525 x 201] intentionally omitted <==

----- Start of picture text -----
Activities Total Total
sessions Participants
Gardening 93 51
Weekly sessions, Gardeners’ Q&A events, partnership events
Cookery Classes and Courses 39 246
School holiday and after-school children’s sessions, ‘Fake it and Make it’
courses, one-off workshops, outreach sessions
Social Food Events 37 399
Afternoon teas, school holiday family days, craft groups, community celebrations
Outdoor Education 29 193
Outreach at local schools, on-site afterschool clubs, school holiday activities and
educational trips
Weekly Groups 117 123
Man Friday, Crafty Lunch, wellbeing groups with various target audiences
External Engagement 45 1636
Community fairs, open days, guest speaking engagements, consultation events,
partnership events
----- End of picture text -----

Following the closure of our community food larder in August 2023 after escalating friction in the community, we developed a new model to tackle food poverty. We have developed 12 recipes, which are cooked from scratch in batches of 30+ every week using fresh produce and delivered to vulnerable people in the community through our partners. This helps improve the wellbeing of the hardest-to-reach people.

Learning-disabled adults experience some of the most significant health inequalities resulting in significantly shorter life expectancies; to address this inequality, we created sessions with partners which offered informal preventative health support such as healthy cooking, gardening and sports. We engaged 18 learning-disabled adults in over 14 sessions.

We have engaged with 193 children and young people in regular after-school activities as well as trips to farms, educating children and young people about the importance of healthy eating and the farm-to-fork concept.

For the year ahead, our priority is to continue to work with local partners and deliver a varied programme of activity to meet community needs. We plan to expand both the adult and children’s cooking classes, particularly our outreach programme.

2

5. Financial review

The Trustees report a surplus for this financial year, but they continue to monitor the finance of the organisation on a regular basis and seek to improve the charities free reserves.

Review of the year

The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.

During the year the Charity had an income of £217,192 (2023: £372,411) of which £25,581 was restricted (2023: £139,199) and an expenditure of £198,830 (2023: £191,120) of which £71,123 was restricted (2023: £53,928. There was an operating surplus of £18,362 (2023: £181,291) of which a deficit of £45,542 was restricted (2023: a surplus of £85,271).

At 31 July 2024 the Charity had net assets of £212,473 (2023: £194,111) of which £52,637 was restricted (2023: £89,900).

Reserves policy/Going concern

The Trustees consider the level of reserves, £159,836 (2023: £104,211), prudent for the Charity at this time taking into account potential liabilities in the event that the charity ceased. Our Reserves Policy is reviewed annually.

6. Plans for future periods

Full Circle Food Project commits to making a lasting change to the lives of people in local communities with a strategy to develop and grow on a wider basis with more formal aims and outcomes. The work over the next 12 months must be to get our core provision right, working more collaboratively with partners to deliver a quality provision to those most in need. We will measure impact and progress accurately in a variety of ways and continue to make our organisation as sustainable as possible.

Through establishing solid mutually beneficial partnerships with private, charitable, and statutory organisations we ensure that each beneficiary has a relevant and response-to-needs led journey.

We are also looking at attendance and engagement figures to identify where we are underperforming or where people are simply not attending. We can then establish a more robust offer to ensure that we capture beneficiaries as well as do more targeted work as opposed to the ‘blanket’ community marketing that is currently done. The first step to tackle this issue is to offer programmes to partners for their beneficiaries, as well as develop the horticultural work on partner premises where their beneficiaries are more likely to engage and continue to attend. This in turn may lead to people feeling more confident to attend our premises and engage with the many programmes and workshops on offer.

3

7. Reference and administrative details of the charity, its trustees and advisors

Registered charity name Full Circle Food Project Charity number 1158829 Registered office The Growing Zone Hirst Park Ashington NE63 9BA T rustees and Members of the Board Mr Joe Jackson Mrs Gail Balance(resigned on 31.07.2023) Mr Paul Kirkpatrick (resigned on 23.10.2024) Mrs Claire Yates Mrs Lynda Sale (resigned on 23.10.2024 Mr Kris Lord Mrs Anne Lyall (appointed on 23.10.2024) Mrs Carla Thompson (appointed on 23.10.2024) Mrs Jennifer Johnson (appointed on 23.10.2024) Ms Angela Davis (appointed on 23.10.2024) Chief Executive and Senior staff members Tracey Macnicki CEO (left 31.12 2023) Michelle Brannigan CEO (appointed on 15.04.2024) Independent Examiner Doug Maltman FMAAT Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne. NE1 4BX. Bankers Unity Trust PLC 9 Brindley Place Birmingham B1 2HB

8. Exemptions from disclosures

The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102: the Financial Reporting Standard applicable to the UK and the Republic of Ireland: • The Requirement of Section 7: Statement of Cash Flows

9. Structure, governance and management

The project became an unincorporated registered charity on the 10 October 2014. The day-to-day management of the project is overseen by the CEO. The project’s trustees hold frequent management meetings and regularly communicate with its staff and supporters.

4

Board Induction and Training

New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:

10. Related parties

Joe Jackson is the chair of Northumberland Community & Voluntary Action (NCVA). During the period August 2023 – May 2024 we employed their payroll services equating to £240 expense.

11. Statement of Trustee Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity SORP requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of incoming resources and application of resources, including the receipts and payments of the charity for that year. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 12.12.2024 and signed on their behalf by:

J Jackson

Chair

5

FULL CIRCLE FOOD PROJECT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 July 2024

I report on the financial statements of Full Circle Food Project for the year ended 31 July 2024, which are set out on pages 7 to 18.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 ("the Charities Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

Doug Maltman FMAAT Fellow Member of the Association of Accountancy Technicians Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne NE1 4BX Date: 12.12.2024

6

FULL CIRCLE FOOD PROJECT

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 July 2024

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----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 6 1,185 - 1,185 541
Charitable activities -
Grants and contracts 7 180,582 25,581 206,163 359,421
Other trading activities 8 9,844 - 9,844 12,449
Total income 191,611 25,581 217,192 372,411
Expenditure on:
Charitable activities
Operation of the charity 9 127,707 71,123 198,830 191,120
Total expenditure 127,707 71,123 198,830 191,120
Net income/(expenditure) 63,904 ( 45,542 ) 18,362 181,291
Transfers between funds ( 8,279 ) 8,279 - -
Net movement of funds 55,625 ( 37,263 ) 18,362 181,291
Reconciliation of funds
Total funds brought forward 104,211 89,900 194,111 12,820
Total funds carried forward 159,836 52,637 212,473 194,111
Notes
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

The notes on pages 9 to 18 form an integral part of these accounts.

7

Charity Number 1158829

FULL CIRCLE FOOD PROJECT

BALANCE SHEET

As at 31 July 2024

Fixed assets
Tangible assets
16
Total fixed assets
Current assets
Debtors
17
Cash at bank and in hand
18
Total current assets
Creditors:amounts falling due within
one year
19
Net current assets
Total net assets or liabilities
Funds of the charity
Unrestricted income funds
Restricted income funds
Total funds
Notes		 £
2,871
200,810
203,681
( 6,992 )		 Total
2024
£
15,785
15,785
196,688
212,473
159,836
52,637
212,473		 £
-
195,149
195,149
( 1,515 )		 Total
2023
£
477
477
193,634
194,111
104,211
89,900
194,111

The notes on pages 9 to 18 form an integral part of these accounts.

These financial statements were approved by the Board on:

12.12.2024

and are signed on its behalf by: J Jackson Chair

8

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with 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 October 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2022.

Full Circle Food Project meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The charity reported total unrestricted funds at the year end of £159,836 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis the charity is a going concern.

3 Income

3.1 Recognition of income

Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability

3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.

3.3 Grants and donations

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.

3.4 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

9

FULL CIRCLE FOOD PROJECT NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

3.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

3.6 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

4.2 Charitable activities

Expenditure on charitable activities includes the costs of work and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

4.5 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

4.6 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

10

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

5 Assets

5.1 Tangible fixed assets for use by the charity

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis, the charity does not currently have any tangible fixed

Vehicles 50% Straight line Fixtures 8% Straight line Equipment 15% Straight line

11

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

==> picture [537 x 603] intentionally omitted <==

----- Start of picture text -----
Analysis of income
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
6 Donations and legacies
Donations and gifts 1,185 - 1,185 541
1,185 - 1,185 541
7 Charitable activities
Income from grants
Ashington Town Council - 2,000 2,000 250
Ridley Family Trust - - - 4,000
Community Foundation - Apple Tree Fund - - - 6,879
High Sheriff's Award - - - 850
Ernest Cook Trust - Outdoor learning Officer - - - 30,000
Proctor & Gamble - Outdoor Learning Officer - - - 330
Greggs Foundation - - - 29,447
Woodhorn Charitable Trust - - - 55
National Lottery Fund RC North 89,897 - 89,897 89,897
Coalfields Regeneration - - - 2,000
Northumberland County Council - Covid and - 6,361 6,361 29,670
Foodbank
Northumberland County Council - New kitchen - 1,000 1,000 12,057
Henry Smith Charity 60,000 - 60,000 90,000
BBC Children in Need - - - 25,391
Tudor Trust 30,000 - 30,000 32,000
Proctor & Gamble - Adult Cooking - - - 1,071
Community Foundation - Adult Cooking - - - 3,000
Proctor & Gamble - Sensory Garden - - - 2,524
Northumberland County Council 685 - 685 -
Northumberland County Council - Conservatory - 6,300 6,300 -
refurbishment
Pargiter Trust - 9,920 9,920 -
180,582 25,581 206,163 359,421
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
8 Other trading activities
Sales and workshops 6,520 - 6,520 1,992
Other 3,324 - 3,324 10,457
9,844 - 9,844 12,449
----- End of picture text -----

Income was £217,192 (2023: £372,411) of which £191,611 was unrestricted or designated (2023: £233,212) and £25,581 was restricted (2023: £139,199)

12

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

Analysis of expenditure on charitable activities

9 Charitable activities
Direct costs
Support costs
Governance costs
Depreciation
Payroll fees
Bank Charges
Staff - Other expenses
- Northumberland County Council
Independent examiner's fees for reporting on
the accounts
Refunds:
Administration
Insurance
Volunteer expenses
Project running costs
Staff salaries		 Unrestricted
Funds
£
92,942
-
26,846
853
971
1,092
154
368
4,001
-
480
127,707		 Restricted
Funds
£
47,718
-
23,221
100
84
-
-
-
-
-
-
71,123		 Total
2024
£
140,660
-
50,067
953
1,055
1,092
154
368
4,001
-
480
198,830		 Total
2023
£
135,939
1,078
41,863
-
-
1,254
115
288
223
10,000
360
191,120

Expenditure on charitable activities was £198,830 (2023: £191,120) of which £127,707 was unrestricted or designated (2023: £137,192) and £71,123 was restricted (2023: £53,928)

10
11
Analysis of staff costs and the cost of key management personnel
Other fees paid to the examiner - Payroll
Pension costs (defined contribution pension plan)
Salaries and wages
Social security costs
Fees for examination of the accounts
Independent examiner's fees for reporting on the accounts		 2024
£
480
368
848
2024
£
127,211
2,156
11,293
140,660		 2023
£
360
288
648
2023
£
112,212
16,462
7,264
135,938

No employee received remuneration above £60,000 (2023: nil)

The key management personnel of the charity, comprise the trustees and the management team . The total employee benefits of the key management personnel of the charity were £9,925 (2023: £nil).

13

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

12 Staff numbers

The average monthly head count was 9 staff (2023: 6 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

Charitable activities
The parts of the charity in which the employees work		 2024
Number
3.5
3.5		 2023
Number
1.0
1.0

13 Transactions with trustees

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses

No trustee expenses have been incurred in the year.

Transaction(s) with related parties

There have been no related party transactions in the reporting period.

14 Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £11,293 (2023: £7,264). There was £0 outstanding as at 31 July 2024 (2023: £0)

15 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

14

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

16 Fixed assets
Vehicles
Fixtures
£
£
Cost
Balance brought forward
-
-
Additions
3,310
992
Disposals
-
-
Balance carried forward
3,310
992
Depreciation
Basis
SL
SL
Rate
50%
8%
Balance brought forward
-
-
Depreciation charge for year
1,655
83
Disposals
-
-
Balance carried forward
1,655
83
Net book value
Brought forward
-
-
Carried forward
1,655
909
17 Debtors and prepayments (receivable within 1 year)
18
Cash at Bank
Cash in hand
19
Cash at bank and in hand
Other debtors
Paypal account
Credit card account
Independent examination of accounts
Accruals
Creditors and accruals (payable within 1 year)
Other creditors		 Equipment
£
2,316
15,007
-
17,323
SL
15%
1,839
2,263
-
4,102
477
13,221
2024
£
1,061
1,810
2,871
2024
£
200,686
124
200,810
2024
£
-
480
6,512
6,992		 Total
£
2,316
19,309
-
21,625
1,839
4,001
-
5,840
477
15,785
2023
£
-
-
-
2023
£
194,993
156
195,149
2023
£
1,155
360
-
1,515

15

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

20 Deferred income

Deferred income comprises of advance payments from grants that relate to future periods

==> picture [426 x 93] intentionally omitted <==

----- Start of picture text -----
2024 2023
£ £
-
Balance brought forward 49,360
Amount released to income earned from - ( 49,360 )
charitable activities
- -
Amount deferred in year
Balance carried forward - -
----- End of picture text -----

21 Events after the end of the reporting period

No other significant events affecting the Company since the year end.

22 Analysis of charitable funds

Analysis of movements in unrestricted funds As at 31 March 2024

Unrestricted funds
General unrestricted fund
Designated funds
Contingency
Totals		 Fund
balances
brought
forward
£
97,611
6,600
104,211		 Incoming
resources
£
191,611
-
191,611		 Resources
expended
£
( 127,707 )
-
( 127,707 )		 Transfers
£
( 8,279 )
-
( 8,279 )		 Fund
balances
carried
forward
£
153,236
6,600
159,836

Purpose of unrestricted funds

General unrestricted fund Designated - Contingency

The 'free reserves' of the charity Funds to cover unexpected costs.

16

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

Analysis of movement in restricted funds

As at 31 March 2024

Restricted funds
Adult Cooking
Apple Tree Fund
BBC Children in Need
Covid and Foodbank
Outdoor Learning Officer
Greggs Foundation
High Sheriff's Award
New Kitchen
Sensory Garden
Northumberland County Council -
Conservatory refurbishment
Pargiter Trust
Totals		 Fund
balances
brought
forward
£
3,944
5,059
15,930
16,517
19,100
25,815
850
2,039
646
-
-
89,900		 Incoming
resources
£
-
-
-
8,361
-
-
-
1,000
-
6,300
9,920
25,581		 Resources
expended
£
-
-
( 23,166 )
( 5,606 )
( 12,932 )
( 15,944 )
-
-
( 1,689 )
( 5,814 )
( 5,972 )
( 71,123 )		 Transfers
£
-
-
7,236
-
-
-
-
-
1,043
-
-
8,279		 Fund
balances
carried
forward
£
3,944
5,059
-
19,272
6,168
9,871
850
3,039
-
486
3,948
52,637

Purpose of restricted funds

Restricted funds represent income

Adult Cooking Apple Tree Fund BBC Children in Need

Covid and Foodbank

Outdoor Learning Officer

Greggs Foundation High Sheriff's Award

New kitchen

Sensory Garden

Northumberland County Council - Conservatory Refurbishment Pargiter Trust

Relates to a core element of activity teaching adults to cook and budget. Supports generalised equipment costs and small elements of staffing cpsts. Relates to the costs of providing staff for the core functions of the Project and support to volunteers.

Relates to specific support given to a partnership with local foodbank and for additional support of Council poverty activity during the Covid epedemic. Relates to a specific Officer dedicated to using the project and the facilities for educational processes with local schools. Looking at environmental issues of growing plants and making best use of produce. Relates to funds that supported some staffing costs, equipment costs.

Relates to a fund without specific designation, but was used towards support new IT delivery systems and equipment.

Relates to the provision and upkeep of the training kitchen where most of the Project activity is based.

Relates to a designated part of the facility where a reflective and peaceful space is available with plant that have different textures and smells that stimulate people with learning difficulties. Funds to refurbish the building conservatory.

Funds to combat social isolation in over 65s.

Transfers between funds As at 31 March 2023

Between unrestricted and restricted funds

Reason for transfer
Funds to cover costs.		 Amount
£
8,279

17

FULL CIRCLE FOOD PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2024

23 Capital commitments

As at 31 July 2024, the charity had no capital commitments (2023 -£nil)

24
Other net current assets/(liabilities)
Cash at bank and in hand
Analysis of net assets between funds		 Unrestricted
Funds
£
148,172
11,664
159,836		 Restricted
Funds
£
52,637
-
52,637		 Total
2024
£
200,809
11,664
212,473		 Total
2023
£
195,149
( 1,038 )
194,111

25 Guarantee

There have been no guarantees given by the charity at 31 July 2024.

26 Debt

There is no debt outstanding which is owed by the charity and which is secured by an excess charge on any of the assets of the charity at 31 March 2024.

27 Governing document

The organisation is a Charitable Organisation - Foundation registered on 10 October 2014 as a body corporate under part 11 of the Charities Act 2022.

18