DoNsh3n EeknpÈ .. 31FEE82C458M87C.B26A-CBF738630ECC Registered number: 08852728 Charity nwnber: 1162185 THE BOW FOODBANK LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 RPGCC Chartered Accountants & StsbJttyyAuditor 40 Gracechurth Slreet London EC3V OBT IIIIINMII •ADIL2H3G' 2311V2024 COMPANIES HOUSE
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Do¢u$vJn Env¢bpe ID." 31FEE82U58M87GB26KBF738630ECC THE BOW F¢)ODBANK LIMITED (A cofflpany limited ty guarant¢•} GONTENTS Page Reference and ajministrative detals of Ghwtty. its TAtee¥ and adTh ChaThon's slatemehl Trustees. rBPOrt Independgnt examin¢rfs re Statement offinanc4al actities. 4-15 17 Balance sheet 18 ststèm$nt of ¢ash flow5 19 Notes to tbe finanaal staigmgnts 2Q-.37
DaSn ETh¥eb K).. 31FEE82C458U87C42&4-CBF73e630ECC THE BOW FOODBANK LIMITED IA company Ilmited by guararrteel REFERENCE AND ADMINISTRATNE DETAJLS OF THE CHARITY, TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustee¥ Muddassar Ahmed Iresignod 25 Januaty 20241 Dr Irum Ali (appointed 3 May 2023) Vincent Allila Meena Chavda tsppointed 18 April 20241 Jagmohan SiThJh Bhakar Matthew Gfll (appointed 18 April 20241 Stove Gifvyi. Char Krisb"n Kor6chniK "Revd TIM May {rBstqned 18 July 2024) Latyka S Emma"Singh Lyms Company register& number 08852728 Charty re9i$tered number 1162.185 Registered office Bow Fc>Jbank Bcw Commuruty Hall 1 William Place London E3 SED Company5ecre Kristin KonschnTri (until 18 2024) Matthow Gil lfrom 18 AP 2D24 Accounlants RPG Crouth Chapman LLP Chartered Accountants 40 GracechurEh Street London EC3V 08T Banke Bardays Bank Pk 56158 The Mall London E15 1XJ CAF Bank 25 Kings Hill Ayewe Krys Hill Westmalling ME394TA Independent Eniner Jeremy Tyrreil FCA 40 Gracechur¢h Street London EC3V OBT
Docusiw Envebpe ID.. 31FEEfi2G6584487C426A-CBFT38630ÉCC THE BOW FOODBANK LIED IA company limited by wanteI CHAIRMANS STATEMENT FOR THE YEAR ENDED 31 IdARCH 2024 The chainnan presents his statement for the ytar. Bow Fjbdnk has faced maior thanges 2023 as maroged the contin¢Nng uncertainty over Ihe tiffjin9 of our move ¢0 our new piemise$ at Bow Community Hall by Roman Road maFket and the inueasing demand for fcod support. We eded lo move cJl of the Bromley by Centrt where we had bee.n operating since thg early stages of Ihe Covid-19 paniJerThc in 2020 and had to nsOlIate ouroperabon5 in Raines 5th0ti1 in Beihnal Green. We know this meant a sKJnifKanl upheaval for our guesls and our ¥olunleers. The FLiodbank team of staff and volunteer5 worked hard to minimise the impacl of the move allhough we know some of out guests were unable to manage the.rnove to Bethnal Green. We hope.lhat the new k)cation in th8 Roman R•a4 Market will be Llose anouoh for many of this group of people 10 again access our Sup1 where needed. We experienced a continuing rise in demand for fcK)d supwt in stsmmer of 2023. This wwyeasingly becarn• challeThJe foF the Foodbank- both (4rat#)nally in ty"ThJ to physically manage the number of people accessing our support as wetl.as fInancly. Our weekty numbers regularly exceeded 900 adutts with" over 600 children's bags be¥ng issued eath week. After careful nderat)n by our staff team and exper¢ence(I volunteers an follobwn"g consultalton wilt4 our guests, the people who use the Foodbank, we made some significant changes in Septernber 2023. We trOdUCed the requirement 10 p.rovhle somè proof of address so Ihat we could fS more. vf our support on our Tower Hamlets nevJhbours. Whilst have conts.nLd to provide the faalty for peoF4e in need of immedit supprrt to have up to 3 wsits, in ord& tts c£iDnue to access the 12 weeks of 5UPPOrt earh year, guests must bè able to show us that Ihey h.ve in T¢y4ver Hamlets. In addition. we took olhpr sleps to ensure th8t we werè confidenl Ihal w8 We sxovidir¥J supwxt for Iht)se most in need in Tower Hamlets. The combined impact of these chaThJes and Ihe mDve from Bromlry by Bow Centre was to f9thjce.tho wmb8r of peop'le attending each .week. By the end of Marth 2024. we were bath to seeing so00 households and providing ov8r 250 children's bags each week, a moFe rnanageatAe and affordabk number of hovsehol¢55. We believe that this has enabled us to bette.r fo.cus our effots on suppthig people living in Tower Hamlets. Th• TNsle¥s remain"commrtt•d lo ensuriNJ that Bcv• Foodbar is access. that no referral 1$ WLrired. recognising that people vtho access our support aweaoty con¥iderable baThiers before accessing the food supporl and help thai we w provide al a bme of criss fry them. Our siaff team, led by Jo Read. rjur Execijtivé Oirector, knDrked our volunteers to ensure tha't we had the Capacity to mgèl the increased of deffland we saw in summer 2023 and manage th8 move from Bromley by Bow Centre. We art proud of the work our ¥olunt88rs and stsff hav8 done to make SU that eVere who ¢ame to Ihe foodbank received a consistent e1 of food SUPF#. irlUding fresh fNit and yegetables. and that we did not close any of our Monday or Wednesday sessions Ihroughout the year the exception only of Christmas Day. en our premises We unavalable to us. Our staff showed huge dedication throughout the year in working lon9 and unsoeial blS under SnIfICAnt Pfessure to make sure we delfveFed on our ci>mmilmÈnt to our guests. So. my thanks on LhaW olau ol Ihg Tnjstees lo ajl our staff vtho worked so hard for the FoJdbank throughout 202>24. As always, the ¢oMIrtmn1 of our wlunleers to prowde food SUprt k> our neighbouNs is Irwjiring aThJ the Trustees wsh to express their gratitude to air the VOILteerS eveTrThe vtho has Irked for u$throughout thè year to keep the Foodbank delivering for Irxal peopk. Our huge thanks ako. go fo the Boihn81 (knn Methtrjisl Churth Wt) Stepped in to 1p us 8t a Crucial tim$ In the wnler of 2023-24. The ndnesS Shown lo our guests in offering to host us so that our guests could wart ind¢Jors and nol hav& to spend hour5 oulsKle as w went.into a drfK#Jtt wnter was a tremendosjs r8h.ef fo¢ all ol
CIDW5Vdfb Envelope ID." 31FEE82C-6584487C-B26A-CBF73e630ECC
THEBOW FOODBANK LIMITED
(A
Oocus¥n Enveknpe ID.. 31FEE82C-6584487C.826A4eF7386J)ECC THE BOW FOODBANK LIMITED (A company limSt•d by guarantee) TRUSTEES. REpoKr FOR THE YEAR ENDED 31 MARCH 2024 The Twstees present the1rAnThu Report Ilwelher with Ihe finan(aal StatemtsDf the charity for the year frum 1 April 2023 to 31 March 2024. The Annual Report serv¢s the pulpose of bolh a Twslees. Remand a Diiect¢ys' Rept uThler MpanY kw. ThE Twstees confimi thal the Annual Report and ffinani?al slaletnents of the charity comply the ujrrent ststulory requirwnents, the requirements of the dwriws goveming documts and the provssions of the ststemenl of Recommended Practic ISORPI appl1cae to the tharities preparing thelraccounts in ac¢ordanca th thè Financol Rekx)rting Standards appIiG8bk in the UK" ar Republsc ol lieland {FRS 1021 (effe¢tNe 1 January 20191. Sihce the tharity qu1r as srr¢ll Under Seh 382 of thè CorwfiE5.A¢t 2006. Ihe strat•gic report requi of mèdium and large companies under thp" Comparwes Act 2rJA (strateg Rewt •tsd Dire¢th' Reporti Regulations 2013 has bean omitted. Oble¢tives and Activitiès The ubjecls of Bow Foodbank arg the 11 of povety Ihe LuKSJn &owugh of Hamlets throLuh the provision of food and essentfdl items to peop in uisis. To this and, the chty intbally cJeTated iMt kvlbanks during thss fvlarwial year. ong based in Ihg 8romley-tJy- 8ow Cenlre, which was open every mdaY mLvning lincludiry bank hdidaysl and the other at Raing's Foundation Sch(x)l in Bethnal Green. vhmth was open every Wednesday aflemoon from 2pm 'lo 7pm. In. September 2023, Ihe thatity ceased operating a f£Ibank from the Bromley-by-Bow Centre, 0$ they wÈre no longer able to providè space for the f)bank as their ovm activities increased in the post-pandem¢c period. In#tÈxd, the charrty tranSf•d tht Monday moming sftssw)ns to Rne'S Foundalion School in Belhnal Green tsmporarity while It secured a 8$e for rts Klènknfied permanent.&te c(¢ Roman Road in Bow. The Tnjstees believe relocabng.the foodbank to Bow of great irrportan¢e as Ihe move WAI put the foodbank ITr Ihe heart ol one of the mosl deprived communilies in the country, with the hhest rates of pensioner and child poverty and where more hwseholds than anthere else in the o)unty ale solely dependent.on benèfilg. The Trustees a150 beliove Ihal hawr¥J one pernanenl site will alkyw for 9reafer flebi in prow5ion and auow the charity lo taik)r support to differertt grwps of individuals seek its suppt. The d)aritys principal actmty to emew9ency and olhttr essenlial rtems to ihdivwjuals and families facing food poverty, to help them manage Ihfough a crisis. The tharitys ethos is focused on being welcomirvJ and non-jvdgem8ntal and poop can a¢¢ess •mer9Bncy food •nd othor e559nti¥l ttopns without the noed fot a r•f$nal. The chanws openthdoor polw rnean5 pwle can vislt the fcrf)dbank witFKJLrt ¢xperitincing Shame and stigma. whlth unfortunatety£an all often btraltached to askrg forh. Unlke many other foodbanks. PA)w Foc¥Jbank Is opon to all resKlents of Tower H8mlets an(J nepJhboutring bor(w9h¥, Irrespective of stslys. and a priority in financial year wa5 to focus on prowding lie1 for people in Tower Harnle15. In summer 2023, the Tnjstees reviewed Ihe charity.s access PG4ic4e5, in (x)nnection with a sgnificanl increase in the numtw of peOe kjoking to use the foodbank. The charity's staff idèntffied several cause5 for the signknnt ireaSe in the firsl six monihs of the year. irhclurfing an in1X of inlemational students needing support, who were unable t0 Access support elsewhere. Another Sou8 of the inuease in people looking to Bow F¢)r#Jbank for support wa>. the number of peop coming from outside of Tower Hamlets, which was drNen by ihe ease of a¢$S to Ihe charrtls f(M)dbank_ Finally. the charity ¥Jentified that a small numbèr of pbople had trè8te¢1 sèeond8ry artsunts trj accessadditional food. driven by the deepening c05t of living eriss. table below shows an increase of approxirnatebj 2W peopb regislwing forforyjbank sUprt in May 2023 as compaied lo'the wor monlh. an incwsg of 160%. Thi5 sKJnfficant incffjase was trKJ9èred by increased nurnb&rs in the three catorS identified above. The pattern OT inueased enrdmentg )ntInUed inlo. July.. as a rgsult, by August 2023, Ihe fwdbarik'5 monlhty visits had roughty doubled from the expected (and budgeled.lorl thl. T"hi$ irtcreasÈ and the ortgoTng food inflat*Jn resulted Trn the charity'5 expected tspend on fol supplies tr119.
DOcugn Énvelwe ID.. 31FEE62e-658726A4BF73OECC THE BOW FOOD8AMK LIMITED (A company Ilmit•d by warant•81 TRUSTEES. REPORT {CONTINUEDI FOR ThE YEAR ENDED 31 IAARCH 2024 TalAe 1: Numbw olv1 per Month. Total duests unique thts Year Month Guests restered Total visit5 this month Retuming April May June 311 3035 497 2127 4275 1597 1957 3611 July August ptembor October November 387 1795 1613 2182 4072 3543 023 296 242 1012 2135 274 2249 2223 1897 294 222 257 953 1247 1187 1311 72fKI 1199 December January Febiuary Mor¢h 2263 1965 024 273 238 927 961 2020 To marbagg Ihis risk and to help ¢trol lh• Nveagng nLEmbets land related frxyl sp8ndl, th8 Trustees decid to amond somè of the access rules. As intefflaiional students with no reCclS8 io publ fvnds did not have a oth•r source ol support. the TnJst8es d8cKled to first au¢Jit Ihe chariVs membership to idenlfy and remo Second ((Ju1cate) accounts. In line rts ot4ecis, ihe chanty aLso limrted food provi%on to people fro tjrtside of Tower Hamlets to Ihree ¥i8its, rather than trwelvg. This latter approach was ¢Sidered 8qUitable Tower Hamlets resKl$nts { ffiom the charitys objects are focused) did not have access to 5UPPOrt fr suffounding boroughs: if the charity had CtinUed lo provwje long-terrn suppwt for pecye outside Tow Hamlets. this would have rrealed iwuality and w(NJld have disad¥anlaged the people in the gephiCal a on wh• the tharrtys obieds are fcthsed. charity make exceptsons to the three-ViSit Mil for non-Tower Hamlets ents for lil a5yknm seeke who coukl access food support Ihrough thè dlity once per sbEek T#thi thwr a$M application was bei ¢onsidor•d. and lil) Ihos• Iwbng in ? tetsje. wtw) etyjld access I0j supwt Ihrough the charity once per we they were e¥iablk8htd in pefmanenl Iwsin9. Bow Fbank has alway5 focu550d on SLVPQrtlng IhO$O deep ¢ri&s and these groups havg seen SUp¥t oJt s¥Jnfficantty in recent years. By changing accoss arrangements. lh8 ¢h• was al io manage Ihe risk of inmsiNJ costs and protect B Foodbank inlo th& fvturg. withwt d55advantaty.ng its target demographic. With totsl visit$ reducing approximatety 2.ow a monlh from September 2023 las compared to 4.000 vsits per morwh in each ol July an Augusti, the wisdom of the charitys deosions was iKJm8 out. In gettw¥J thè Charit5 obiecthves aThJ plaMw)g ts xti¥lls. the Trusle¥s have gwl C{1¢rtiOn lo genaf guidance pthished by the Chanty commissi( tg lo benefit induding Ihe gUlane$ 'Publi¢ ben nning a tharity IPB2)'. Stsff and Volt•¢ The numbers of voluntèars supports.ng B(N4 Foodbank intreased signffKanlty during thls fin181 year. wit approximatety community volunteers arnl 6W cowate vobjnteers partiopatirwJ. Page S
DctU5vJn EnvtW10.. 31FEE82C5844B7C426KBF73B630ECC THE BOW FOOD8JIK LIMITED (A company IlmSt•d by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The ¢harty's volunleers are a vitsl part of both delivering its seNices and the charty's ethos, as the Gharity believes that when neighb(MJrs support nehboUrS it creates a Sha and cèrirvJ Lx)mmunty experience, where people feel part of a comfflunrty of peo)le that care about other. The Bow Focxlbank's c(wrale pwlnèrs also provide a vital 4rKome strèam. through donatson$ that are made in eonne¢titsn wilh volunteering d. During t$ financial year. the thartty Sa4Y these partnerships become more fruirful in tems ol corpjraie groups takirs on fundrais¢ng challeryes and making Bow FooL1bank a ¢harity partrw or their Charity of the Year. We would like to partiujlarly Ihank Colypr 8ristow, Black Rock. USS. RGA and OSIT who mède us Iheir official ¢harity parlne(5 this finanual year. The organi5atx)n$ not onty contributed to thè Foodbank financially. bul wer¢ key colate vdvnleeTS this r. The tsble below Ihe number of ¢ornrnunity vdunieer hours pèr month. Appng the London LIng Wage {£13.85 per hour). the equTrvalent Val of th volunteer ksurs is £128.[. Tabie2- Communltyvoiuntoor hour¥ and ffiTronclalvalts Year Month Total Hours Financial VaLue 1£) £11.405 £11.911 El 1.336 £13.497 É11.225 E7.566 £9,370 £9.924 2023 Aprtl May June 823 819 July August September O¢iober 975 810 677 N¢)vember 717 Decembei 764 £10.047 E10.283 2024 January February March 782 735 É9.665 £11.868 £128,097 Total 9411 During Ihis finanaal ar. Ihè stsff team added an Adminlstralor to hel) the charity manage the addition81 administrative burden of th& increase in guest and volunteer numbers. The chwity also added Deputy Session Manag8rs to help ensure all foodb8nk sessK)ns were manawl safety and supervise charsws increasing number of community and corporate partner volunteers. The ¢harity also added a Prowremenl Manager. who hdped brwease its pn)curement routes and food donion points. These thange5 increased the amount of donated fctyJd and ensurod FcJdbank could pufGhase food at the best ¥U•, whieh helped it managè risk$ Tèkted to fotyj ¢ost inftab.on and the incr¢•$•d rfflber of guests. Criti( volunteer support ats0 ¢arne in the form of a core vdunteer, offered Bow Foodbank iwc¢ days a week of volunteer time lo map local referral sefvKes, and support Ihe tharty's guests in accessing adt)nal help and support. This SUPPOrt was parb'culaty important after Spwemter 2023, TwhEn the charity no kJn5eT hosted a foodbank at thè Bromleby4ow Centre (which previwsly had referral seNices supwi for the charity's guegtsl. Pa9e 6
Docusign Env&bFe ID.. 31FEE82C4504487GB26AUF738630ECC THE BOW FOODBANK LIMITED (A ¢¢xnpany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YER EMDEO 31 MARCH 2024 R•vl•w of activltl•s In the 202312024 financial year. Bow F(y>Jbank again saw an inCaSe n both the number of guests and the to number of viwts these guests made. In thi5 finanoal year. 6.385 hwsehokls used the charitys seNws 33,2 times. an avèrage number of wsits per of approximately five visrts. As noted above. from Septgmber 2023, guests from outside Towor NaMts were limited to three visits per year, this h'mit contribu to the overall redltctl in averag9 numt)or of vists per hcwsehokj to five. with h)useholds from Tower Hamle generally Ihan fve times duriThJ the swr. Y••rto March No 018l•••t ¥l•lt• 2017 2018 2019 2020 2021 2022 2023 2024 2.575 2.977 3.375 5.710 30.979 33.823 29.265 33.287 W•llar• and Ben•ffts Ad¥l¢e Until Septernber 2023. Foodbank contracled the Bromley-by-8ow Centre to prowde $UPFth and advice guesls who needed hdp maximisin9 their income or decreasing their outgotngs, by signp05ting them to oth sources of 5UPP)rt. When Bow F¢4>Jbank slopped owating at the 8romloy-by-Bow Centre. guests found ' more drfficuA to access addilMThI support and referral sourGes. The Gharity also found that guests. nee mpri$ed a broad range and requi drfferent Speciali supp(t. 7•Ath more guests not having recourse public funds or experiencyng 1meleSSness. The charrty aLso saw an inu&as¢ in guèsts eXpen¢Ing la disdosingl domèstic abuse and those who w8re housed in LEnsafe lItiOnS. As a result, Bow Foodba revKgwed its referral advTh 8ervi¢e and recogn[1 it could no rdy on a Sing provider to meet its gue needs. As noted above. criknl siwtyi was promdgd by • m vokmwer, offer8d FoOdtyk Iwo days a we of volunteer ttme to map loc31 referwal swvtss. armj supported the cty.5 wgsts in a05$19 additio help and SUFQOrt. Thg ¢harilVs guésts vabjad the intrOd¢JCt# of wMitw)nal services. vdwch helped #Jentify mostaneeded areas support, and tdd t charity that these &lditional seryices had a sigrmficant impacl on their situation5, partiCLtlar as the help was offergd via rrighbours Vlrythin the cOmmlty. again part of Bthy FcyJbank's èthos. These a Iwo rnrnents Ihe ¢harty received guests in relatK)n to this addrttonal support.. -Thank Y< for the refeffa knr. The stress pardlhsed me aThJ consumed my h8allh. I contsctèd tre police social services child prthction kam... Unffftaiety. Wefe slow to act. Ycw got mè a lawyer and nr&w chihJTen afe sale.- "I wasn't sw0 ¥thwe ¢0 w for hglp and made it ¢asy and gave me the confident• ask tor hdp." Swnmy Stadsto. During tr past ffinanc year. Bow FwAIt)8nk provided 33.287 individual and 26.480 children'$ p?rceb. which the equivont of 358.602 meals (based on the UK Government's DEFRA measure of4509 per me811.
DotyJJn Enveknpe10.. 31FEE82C5844B7C-B26K3F738630ECC THE 80W FOODBANK LIMITED (A ¢ompany limlled by guarant¢e} TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 IAARCH 2024 Ksl £811.28K £103.13K 272.5 As shown abovè, the total ctynmgrcial vaue of the f(x)d distributed by BuAt F¢xJbank was £914,410. with a weight of almost 273 tonnes- eqLMvalent to Ihe weight of the larggst blu• whal• ever rerA)rded. Foottbank Te(ived £199.990 of donated focKI and spent £443.S10 on l(>d $UPF4i¢$, as compared to £177,561 of donatgd fLKJd in fwo.al >wr 202212023 and a fo(J 5pwMI of£305.041. Donations in nd irtcluded a very generous dOnatn of over £60.[ of thildren's hygiene it¢ms from Kenvu¢, a corporaie partner ofthe l¢)odbank. Bow Foodbank supported 645 pensioners. 8.007 chthjren and 13.118 working age people during this finanrial year. Bow Foodbank also Wed th 669 househokls, surwjsting them to seryices to he them move away from the root causes ol food povety. A snapshot ol g11¢$1$ •t Bow Faodb•n As of 31 March 2024, 8ow Fwdbank had 6.385 re9iStered guests. All guests seN4edare iheir aSonS for accessing Ihe foodbank.. Bow FoJdbank d¢)es not require r[raI lett5. While a large proportion of Foodbank's guests receive benefits ihat do noi cover thèir morrtmy bi4s, in this financol year. the charity Saw an increase in the ThUMr of guests with no rec(Jrse lo publK funds. wfhgr because they were aSM seekers or berause they were a student or work visa. The ¢Tease in the number of $iudents 8n(I lower paid workers requiring help from the charity was a direct resutt of local Workfo shortages. ith additional care workers being recnjiied from abroad. Further investsga11c often red that peopb immigrated to the LIK Trhth the promise of a job. only to be faced hidden $ts Isuch as a requirement to pay fees to join an agency) andlor offered less secuFe hours than expected, which resuw in a need to acce55 prov1sK from th8 eharity.
Docuw EThvebp2 ID.. 31FEE82C4SB4487C-826A48F738630ECC THE BOW FOOD8ANK LIMITÉD (A MPY limiled by guarnnt¢e) TRUSTEES. REPORT {CONTINUEOI FOR THE YEAR ENDED 31 kW<CH 2024 Guests per Week M4w•rqturniry •llew •Re4wn JJn.LN Year The at)ve graph shows the increasing numbers of guests in the first quarter of the financial year 8nd the impa of ¢hanging Bow Foodbank's access ruks from 1 September 2023. This graph also shows expecte(I dips durin the weeks of Eid and Christmas and the treThJ in the weeks leading up to Christmas. Tabi• & Gend•r Br••kdown ndor Numbef of uniqu ndividuats umber ol vssi is year .727 ndividu8l eentse ¥13its emole gle .491 .876 6% ther rans Male refer not ay ranslemalg on-bin8ry l%for all other groups 1%forg11 oiher .385 3,287 100% 100% Bow Foodbank had more female gLtests WI access the foodbank more often than male guests. although thi difference ha$ reduced the prior finanual Jear. The (arity belh?v0S this reduction is primarily due to a increase in the number of international Students and thev dependents. are often male. Page 9
Docusign Envalw ID.. 31FEE82C4S84487c42&&F738G3cCC THE 80W F0008ANK LIMITED IA ¢ompany limited by guannt••l TRVSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 IAARCH 21124 Wrfhin $ome communities F(x>Jb8nk seThes, the prov¢sion of f)d 15 consthred a fem8lt responsibility, which means that womèn from these cixnmunrfies rjften attend w behalf of their hou5ehdd. Within Tower Hamlets, women of all background5 are more likely to be ecorvni¢ally a¢tNe Iworkingl than men. with Bengali men represenling the bggest group of guests who are economicalty inactive. Hcmever, women are more likely lo be engaged in bwer paKI work. such as care and retsil. (Source.. Tower Hambts knugh Profile May 2024}. While women rnay be more scorIcallY active wrthin Tower Hamlets. the ¢hanty aLso idenlifipd that wornen are morè likely to report C4ynptex support neé(l$, suggests.ng the wixnen who ¢5$ loodbank are som8 of the more vulnerable women in tha afea. It Is comrnon for a woman to r•port a relne0 on trir husband's visa stabJs to remain in the country. or to rewt Ihat their rhild benefit goes dIreY to iheir partner, in both cases resulting in less financial independence aTrJ resilience fLY the woman. .Wmb•r gt Unl4u• fgtsl ¥t% P•r -Mdb••# F••4b•nk 4amlAts Gu•¥ts SU7• knwlation pop•110 Etlmklty Ban818do9i 8•nglbd09hi Indi8n ot 8viti#h Indiath While Britilh Z015 12579 5 IY31 J )1.5616 Tr.641& )4.60 ?4.5 ).104h Ir1¥hill1$h Whitt Eufooe•wother Bckrrican Anyolhèrothn1r0up 11.3416 15.02 22.9041 J.114h 14.60 283 1725 2051 3 1.1Slb Preterftot ro¥ay 8&ck Br18 OtherAgi•n b8ckmnd Othar MtX¢dlMuitipie bè¢kground Arab PAacCaTibb•a Paki&tanioi Britith Pakigthni Other 8lacXIAfvi¢8rblC8ribiJv•n bacyoL4nd Wknit•qnd BiAckCwibbfr•n 1.129 147 12Z 1.34 1.741b 97 1.5 1.461b 1.64 ).94 ).16 ).91V• J16 ).75 120 Hi$poni¢ Thiiq and BlaCkAfrrt J.$2 )A4ql ).51gk ).71 28 1.10 4ot Perskgn 24 193 3 mor TurkiTh th1t0andA$fft chinese Briiish Clyn•se 19 77 12 ).3th6 J.(AXh ).27 ).4191 ).191b 5 33288 There have been ¥ignifiwt change5 in the ethniiity of guests access9 the f(Jdbank since the prior financAal year. First, Iwo new demographic groups have been added. Persiw and Turkn"sh. The charity believes this is a result of increased mi9ration from these areas and prowdes a small insight into hcw international events impact Bow F¢Jodbank. The charity atso has seen an inaSe in Persian a$uM soekers. due to curyent political events. P48 10
DocUN Envelcpe10.. 31FEE82G658487C.B26KBF738630ECC THE BOW F0008ANK LIMITED IA company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The most significanl change in ihe increase in Irlan and Indian Brits"sh gues15 0¢¢essing the f<)odbank. Whi most othèr gthniciknes map roughty to the Tw Hamlets. deffwraphic profik. 24% of the charivs gues iderirfEed 0$ Indian or Inth"an Bntish. whil• the local dernt)Jraphic is only 3.3%. However. as the average nurn of visits of this demographic 15 three. this indicates that most of this demographic are not Tower Hamlg rgsidonts lar. thereforg. had a limit of tPne Visits per year from Septemb8rl. Bofore April 2023. B¢)w FOJbank had only a few Indian or Indi Biili5h w9sts. but tlis increased to over 6 May 2023. The charity krth thwh its work k¢al partne that many people in this demographic Internatial studants arKI thaT dep8ndents. wfK) Could nc+l use other IC emergency focKI serviS as they h no reCoLg ttj public fvnds. Thi5 dmcv)strdtes h(rw Bow FLb3r>k can be impactgd by changes in nahon poliries lin thi$ ease, immigralion polKiesl. In prior finanaal y•arn. the charity has seen similar Impacts on 9ue numbers and dèmE)gr¥hic changts as a resum of other policy dectsity)s, such as fiJdoLwJh Nle5 during pdeMiC and the fvKrthild kmrt on thild benefit. The &gnificant increase in the number of intemational students 8nd thwr depen¢Jents using the Foodbank al demonstrales ihe level of risk the charity faced the increan9 gu1 numbers. While the Trustees we reluctant to bar this group from accessing fc)d support {givgn the Cal need and their lack of access to oth sources ol support). the ¢harity Goukl Th)t supwt intemational sbjdents from all over London without puiting Its at Sl9nificant financial risk. The decision to to5 on Towèr Hambts reshlgnts, irrespecb.ve of immigrats'on statu allowed Bow FoodbaTh% to mgalO theso sigThfrant finanrial risks. wl¥le horwring il charitable obJ'ectiV88. These changes in the ¢han"tys access rules also erKouraged it to tJild partnerships with neighbouri fc¥)Jbanks in Hackn•y. Newham. Waltham Forest and Redbrid9e, so rt couky reler out of area guests to sour of lood supFort Cltsser to th"r Fb)m•. also saving trm time and exFnse in traveling to Tower Hamlets. The partnefships allowed Bow Foodbank tt> stsrt sharing leamtll9 Wtth its neahboUrS and to deepen th& conversat. re9arding trends Ihat are effectivè in supporting those experienon9 food Irty. This has aknved 8 Foodb8nk to start advocats"n9 lor Frt)Itcy changos on behaK of its guests. The t3bt8 betow idenbfiès the languages in ¥thich the charitys guèsts ha asked it to cornmunieate. (Note th not èveryone who has English will have English as thgir fitst language.) TOTALVtstts Numbers DfGuo4ts 26991 Efi oth•r 8eny Unkno4 61.101b 12_811b 8.2391 3.7B 2740 iJtTBlnhg 1.0846 Thi5 taNe sP#Nvs that approxrnately 20% of our wests are {1 Mfb1e commUntIng in ErvJlish. T 'Other' calegory PreSents 28 diffe1 larrfJuages spokèn by cr guèsts, but at a fquencY of less than 1 speakers. With such a high proporti of the chartty'$ guests coming from a BervJali back9round, il is surprising Ihai BènAh {and its dialects) is the forMJbank's 5ecorwJ4igst identtfied language. Note that befo this finaroal year. Malaydlam would have been in the 'Otherf categw las the fr¢quency of sp8ak•rs was not gnificantl,. thi5 again conf1m the impact of an incr¢osir¥J Indian dkaswra amongst the charitys guests. lik Influenced by a large numbor of international students from Inth"a. Bow Foodbank contlnues to support population of Ukrainian guests. which unsurprisingly in(Trased with the onsat of the RuaTrJkra1nlan w again highlightmig 1)tomatl ovents and intemal polw thart905 can quid(ty change the demands on 8 Foodbank. Page11
Oocuswn En¥ebpe ID. 31FEEKiC458M87C-82&44BF738630ECC THE BOW FOOD8ANK UMITED {A company limited by guarant••) TRUSTEES. REPORT ICONTiNUED} FOR ThE YEAR ENDED 31 MARCH 2024 Fundralsln9 a¢tlvitiK and inc(xn• gwadon- infornution orfuDdTaising practic•& 8ow Foodbank has uged two professJnal fundraisers sypF(wt its graDt and trust fvndraising and online fundraising c8mpaigns, with an oufjay in th"$ firgncial year of £8.8fKI. The rarity has not received any fiJndrai5ing complaints from ts dcyiors or supwrteis. Flnancial RÈ¥lew Going Concern As rep)rted. the numberof guests pAterrtJiig the foodbank has been irnpacltyj in 2023-24 by a growing number of inttrmatrtinal sludÈnts reouiring 5UPPOrt aFbd a conb"nuation of Ihe impact of increased guest numbers followEng the onset of the Russian4Jkrainian vrar. The decis)ns made to rèfocus Bow Foodbank's work bn Tower Hamlets residents has allowed rt to meet tts budgel expeclation5. Both reserves and income leve15 were kept under close rev acTOSS the year eThJirvJ 31 kqarch 2024. Br)w F(4xlbank Secured sufficient funding lo meet its osts during the year. but reseryes cCtinUe to be kept under cbse review. Further. with an ankn"cipated move into a permanent building in the next nanCIal r, the Truslees been bulding feserves that can te ullli¥d fo support this move. OngoiRg reportiry wrl alow Trustees to make Awlher change$ to Qhe freqlcY of foodbaDk So$sK$ and provide an increased undersianding of the guests needs. This will alk)w the foodbank lo fcws resotsrees on those Trwst in need. ertsurFng the chty 15 (¥)verirv) it5 fjx¢d£osts. After making appropriale enoumes wtillin thé chaiity. theTJvstees have a rgasonabb expeclabon Ihat th.e charity h85 adequate SOurceS to contsnue for Ihe foreseeable future. For this reawn. Ihe TTU5tees contlnue to adopl Ihe w.ng concem basi5 in preparing Ibe ffnanu¥ slatsments. Futher detals regardirJ the posrfion of going c¥ncprn can be found in thè Accouniing PolKies. ResèNe5 Polky Board of Trustees eXanrrin the level of reserves approwiate lo the tharity. havlitg regard to the flnancial risks. The Board conduded Ihat an apwoFKiale reserves Oiryshoukj be based ¢)n hohjing weserves eqvNalent to Ihrae to six monlhs of running costs. YJt¥ecl to.key perforynance measures monitoring ¢lknt wsrts and food cost5. A signtff¢ant part of the food dlstribute is drted tg LI5. There is a risk that this kvsl of support could redu¢e. as su¢h the budget and reserves policy is based on total costs UBt wJuid be incre shoukl these donated itws nÉed lo be purcha. In addirion. a nvw prernI has been identified wth suffic1 bud9et, wth reslrteled reseNes secureij lo assist with the requwedffove and premises fft out. In Ihe year to 31 Mareh 2024 our total unrtrstrK c(tsts wère £548.057 and therefo our tsrgeted reserves should be wdhin £134.71>£269,430. unsin"ed reserves at 31 March 2024 were £431,181. The charity has a bank balance of £501.539, other assets (stock and debtcysl t01allw £12.193 and ueditors of £20,e75. At 31 March 2023. w8had total unrestricled resw¥es of £436,4B7. Due to growth in clitnt numbe"Fs In 2024. cornbih8d wilh ihe to( cost infation. and the Premises move. .the Twste8sbeli8ve it is prudBfrt to hold a higher VE1 of ReseNes whicti was a prudent approach. Income Our total ihcome for the htar eNJed 31 fvlarch 2024 was £887,257 {2023: £809.213). We are grateful lo vc4unteers. Individu donors. government bodie5. kgrger $ts and foundations. rpOrate fvrKling parlners, 1he organi5ers of fiJndrassin9 events for their financial dal)n$.. and to bFal businesse$ 8nd individua15 donaliry focé. Paga 12
OoGusign Envdope ID.. 31FEE82&6584487C426A-CBF73ECc THE BOW FOODBANK LIMITED {A company Ilmited by guarantgo) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCtrI 2024 Expenditur• Our $XnditUre this ygar was £894,264 12023: 669.640), represtnted by I¢) ¢L)St8 81 £443.510 {202 £305.0411 and other costs of £450,754 (2023: £364,5è9}. curr8nlly.we proyide a standard bag of footl (10 12 items) and dnts are atle.to tht)S9 2':_3 rfems of hou56h goodsltoilètriss. Each family wth a thikj reCveS extra food items. th an extra item for each addilional child. Future Plan5 Bow FoeAdbank temns commltted to supptiiting ansTh in nJ Hamkts. To achieve this 9031. th . nèetj for a pem)anent home has I)ecce increasiry Mlal. The tharty believes Ihat Ihe inability lo ¢onlinue operate from Ihe 8rornley-by-Bow Centre has h8d a signifThnt. adverse impact on it5 guesis. resulting ' urertaInty in the supp)rt guests can expect to receive. whi many guests moved with th8 ftsodbank when onsolid¥ted its opalOn$ al Raines Founrl4tvn Sthool. many guests ha disabilib.es and mobility issues a the ¢urrent location at Rair's Found8n SchcK)l in Bénlhal Green is not wel-connected to the resl of th iwough Se£8ble wbl'c bznspyt. . 8ow Foodbank hoped to move into its idenlified wjpety as soon as possilme w) the new finantial year as thi ' localion has strong transkkxt link$ to parts of Ttrwer Hamlgts. As sh¢)wn in the chairs report. this. torjk f longof thaT) anticipated. The impo¥tsnr of Bow Foodbank havir4J its olvn space increasès Ihe chari .cpportuneS tp provide greater impaci for its guests and to increase its sign posting wort to hglp guests buil thèir financaal. so(iai arid emolal resil1ee. A .dedicated SFwe also aNows Bow Foodbank to olrer mo oico to guests in terms of focJ prowsion. as well as shorten 1he b.me guests musl queue for fTrJd, which offa them dignty and vaues thelr time. The carity also 15 rJ)nsiLJering the use of online platrorms lo further suppo Ihe goal.of offerw)g dtgrmfy.and Clee to.ils guts. another key part of the charitys etho5. The charity warts to further invest Wb ts v&unteer team by offeriry them training and to broaden its abllity t triage and sign-post guèsts to addilbonal r&sDur¢es lo improve thè Olrtcomes it can 8¢hieve vth ils guests. Foodbank plans to hi a volunteer ¢(HJrdinator to suprmyt its volunteers In their roles a5 well as a n8 voltrte8ring pla¢trJrm to offer rewds for t¥ne and iivestrwit in Ihfooth)ank. Bow Foodbank also plans to 9mploy a fulkÈme Referrals Man>Jer to build pathetships with advice ahd 1ppO organisations to ensure the foLKlbaw&k can offer a broad range of sign-PQSting to its gugsts and to bLthI relalionships with parlner5 that fan support guests Ith the emergng tren(Js in rteeds - for exampl8. benefi and pension credits. mIgra1•0 support arKI support Vlilh e5. As th ¢h4rty sees no forth¢omin9 relief in th¢ ¢ffèCt OT Iho w¥t•f-INiN9 Cfisis loi it$ local GommuDI Bow Foodbank expects to see nurntse be mainlained. rf not increase. To help th charity manage increa demand. il will knus on buildry cLYporate partnershw to it rèmain ffinancially rtrsilient, ¥thile trt4Jit)na rrietho.ds of rdi5ing funds through grants. trusts and personal donattons become more competitive. Muth of thi5 Annual Report ha5 htghlighled how quickly dèmarjd for the ftyxlbank's services can thange I rosponse to international events. and loc and natkmal decisiorts. Bow Foodbank intends to bulld budgets to in¢iudg a buffgr to alknw it toatyso irhcreased demaThJ (Sue to future unff*eseen changes. The chari also intends to budd better pather5hips wilh SIrlar charities in Tower Hamlets and neight4Juring boroughs, t enable coifective strategic ptanning as lo how best to meet the rdS of guests.and to create a vocal group o advocates to input into and hopefulty inlluence hxal and national poliw for the benefit of guests.
DoGU5ign En¥dcy810'. 31FeE82C458¢487C-826A4BF730630ECC THE BOW FOODBANK LIMtrED IA companyjirnlted by guarants¢l TRUSTEES. REPORT (CONTINUED) FOR THE YURENDED 31 IAARCH 2024 Stru¢tur•, g¢)vmanc• and management .Constitutlon The Bow Foodbank Lithrt& iims registered as a pnvate cofflpany Miled by guarantee op 20 Januy 2014 and is govemèd by a reSed Memorandum and Arftcl8s of A5socialion daled 3 March 2015. The Bow Foodbank Limited was registered as a charitable cornpany in Englan(l and Wale$ on 15 June 2015. In the event of Ihe company being 4Jp. oath member must conlribLrte a sum noj oxceediThJ £.10. The Tnjslees are the membors of the Company. Methods of appointmenl orelection of TTU8ttrs The managernenl of the" charity is the r&sponsibilty ol Ihe Trusiees. vtho are elected and coopted. under the terms of the Memorandum and Arti¢le5 of Assou"ats"on. As of 31 MaTth 2024, there were ten Twstees. The Tnjstees meet .bèts¥een four and six times per star. wrth more frequent meetings SchedUd to monitor peratal actiwties and martage resour as effe¢iNety as possble. The Trustees appoint a Chair, VIGe Ghair. Treasurer and Company Secretsry to undertake kad leS and in tsison thè Execub"ve Dxeclor. erwre the charity delive ts servicps to gu¢sts throLNJh its team olstsTf and volunteer5. Organi$atlon ¥tructur¢ and de¢i$lon-maklng pdici The Trustees set strategic"objectives and ensured effeclive finance controls and appropriato prrtedures were in place for the management af the diarrty. P.oli¢les adopted for Ihe indydion and traiiiing of Tni$te85 New Tmslees are inducted throusth re(*pt of levant Charity CornMSsic mater•l. a ¢opy of the MerTh)randum and Aitides of Associab'on and key pdicies re&lry to managemenL finance, strategy, decAsion-making, safe9uaiding and risk. N8w Trustees are also supported by the chw"r and 0th9r Twst&es durirtg and after their" induction. Pay pollcy for key mwagement p¢rsonnel The Trustees of the charfty we constderwj to be key management peTson1 aThJ arè not rgmungrate(I for thglr les in this eapacty. The Twsiees w)sider the Twstee$. and the Execub"ve Director comprise Ihe key management personnel of the th"arity in charge of diredtng wtd contfolling, nmning and Operating the Tntst on 8 d#tO¥Y basis. All Tntstees give their time freety and no Trtte receNed remuneralion in the T. The pay ol th& Exe¢utNe thre¢tor is reviewed annuabty and nomally increaseil in accordance wrth average garniny$. Thè remunerab.on is ben¢hmarket1 against pay l&v¥ls for thi executivès in similar foodbanks or $ized ttb8ritsble OffJOry8#lon$. Relattd party relatlon5hlp During Ihe year. the tot donats.ons reNed from Trustses wer& £2.1( {2023.' £3.0001. No Trustee re¢elWed reimbw5ement of ewen58s in either2023 or 2024. Page 14
DoCu5V Enve)pe ID.. 31FEE82CS84487C.826A-CBF738630ECC ThE BOW FOOD8AJ4K LIMITED (A company Ilmited by guarantsel TRUSTEES. R'EPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 FinncSal rfsk managemen¢ Bow Foodba"nk was able to raise sufficient funding IA the year to 31 March 3024 to meet ils obligations an Pfovide il with a heatthy bank balance to bring Into the new financial year. The FoLxlbank sets out an ann budgèt vihich incorpoiates anliopa¢ed income based on a multi stratw fundraise approach, along with bo fixed and variable costs. 'Ths is assessod abngside Ihe ant1pated demaThJ from thè foodbank clients and th charib.es strategic obJ"e¢tive5. The Trustees monitor the finanoal perfofmanch of trt8 foodb8nk intra year i accordance wth the INJdgeL ststementof Ttee$ responsibilities Thè Trustees (who are alSO.t directots of th8 charity fc the of Company lawl are responsible f prering the Trustees, Annual Report.and Ihe financial slatements in ac¢ixd8nce wilh applirAbEe law and Unrte Kingdom Accounting standards (United Kingdom Generalty Accepled Accounling Pradirel. Company law tèguires.the Trustees to prepare finane401 Statements for èach Tmancial year. Under ¢ompanl la the Trustees rnust not appmve Ihe financgal statèments unless they are satisfièd that Ihey givè a true and fai view of Ihe state of affaiws of charity and of ils incoming resources and appltion of resources. induding income and ¢xpèrKliture. tr thè pèriod. Irt weparir8 thssè finala1 statsmerbts. the Trustoos are required trj.. obseTre Ihe methods and prinoples of the Charities SORP" IFRS 1021., make judgments regarding accounting e5twnates that are re8sonabJe and prudent. stat8 vthelher applicable UK A(zounbng Standards IFRS 1021 havo been fo)wed. subièGt lo any mate ' departures disd05ed ar ealr in the financial statements: and prepar? the financk81 statements the goin9 conctm basis unless rt is in#ppropriate'to presume the charity will continue in b.us8$5. The Trustees are reSpSibl? for keeping adeqtsate accounting r8COTd5 that are Slrfficlont lo show and explai the charitys transadions and disclose vthh reaab]e a¢¢ura¢y at any time the finartial posrtion of the chari and enable the Trust8OS to ensure the ffinancial statements compty th the Conpanies Act 2006. Thg Tru$tee also are responsible for safeguarding lh& assets of the charity and, th?fOre, for taking reasoftabk steps for th prevenb.on and detection of fraLMI and other ryukritses. Stnall eompanles not• In prepamg Ihi5 report. the Trustees ha.ve takeTr ad¥8ntaye df the small ¢ompanies' exemptions. provided ztietltin"41SAI theCompani85 Ac* 2008. Approved by order ofthe members ofthe boarf ofTrusteesand 5Jed on behal ty. Emma Singli Trustee Date: QocowLbeK 20 Lf P4e 15
Doyjswjn Envelope10.. 31FEE82C-6584487C-828K8F73863CE¢C
THE &OW FOODBANK LIMITED
IA Company limited by guarantep)
INDEPENOE14T EXAMINER'S REPORT
FOR ThE YEAR ENDED 31 MARCH 2024
Independt exarrdnerfs report to t Trustees of The Bow FOodbk Limiipd ('th• ¢h8nV}
I rfjport lo the d)arity TSt on my exaThMnaivM of accounts of the clty for the yeor ende¢ 31 March
2024.
ResptsDsibilib"e$ and basis of repDrt
AB thb Tm518es of the djarity land its dwédors for Ihe pur[ of company are respOr1b1Q for the
preparation otthe actsunts in aCcOrdaF) with thewwrnents ofthe Companies Act 2006 nhe 2006 Act'i.
Having satis mysdf that Ihe accountsof Ihe charity are not required lo be aydlled undér Part 16 of the 2006
Act ancj a elkJible for independent examinalion, I reptyt in resped of my examination of the Char matters Iwe come to my attention in wnnection wlh Iho
examinati gtving me caLt5e to belie¥8".
accounting records weie not kept in 5r1 of the drity as Tequirgd by sactioTh386 ofthe 21JO"6 Act. or
the accounfs do not accord thos&records.' or
the accounts do not compty whh thè awwnllng reryiremgnis of section 396 of the 2006 Act other than
any requirement that the armints gTrvè a Iroe and 18irf view which is not a matter consJered as part of
an Sn¢YepensJent examw)alion.' or
thè accounts have Tr)t been prepared in acx¥Jdance th the methods and principles of the Statèment of
Reeommended Pra¢ti¢A for ac¢x)unting and rewrbry by thanlie5 lapplicab to Charities preparing their
.aeeounts in aceordarte 4Mth thÈ Financial Reporfing Stsndard awbicabk in the UK ar¥J Republic of
Ireland IFRS 10211.
I have rio coricéms and have Come no ¢>ther rnattors in Comèction ith the examination to which
atteTrt# should be dravm in tr¥"s TepDrt in c¥derto enable a PTOW urKlorstsnding ofthe accounts to be reached.
This report is made solely to the rharitys Trustees. as a in ac£ordance wth P8rt 4 of the Charilies
(A¢counts and Reports) Regulatiohs 2008. My vn>rk has been underiakeri so Ilial I n)uht slate to kne charills
Tru5tee5 those maiters l am wuired to state to them in an IndeF*ndent examinerfs rep.ort and for no oth8T
purpose. To the fullest extent rermitfed by law. I do not accepl or assume responsibility to anyDne Olhet Ihan the
charity and the chariws Tntss a5 a body.ts mywryk orfor this report.
SvJned-
Jeremy TyTrell BA (HC$1 FCA
RPGCG, 40 GracechurEh Stre8( LLd. EC3VDBT
Pagb 16
OotrJn Env8lope10.. 31FEE82&6584487GB26AUF738630ECC THE BOW FOODBANK LIMITED IA company limited by guarantee) STATEMENT OF FINAMCIAL ACTMTIES (INCORPORAnNG INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Urrtri¢ted fijnds 2024 Rethcted funds 2024 Total fijnds 2024 Total funds 2023 Note Incom• from: Grants 8nd Drmat Investment inwe 537.223 3M,506 881,729 5.528 807.773 1.440 Total income 542.751 344.506 887.257 809,213 Exp¢ndlture I". Rais4ng funds Charitable activitw" 9.168 337.039 9.366 884.898 540 669,100 547.859 Total expènditu 548.OS7 346.207 894,264 669,840 Net movement in funds (5.306) 11.7011 17,007) 139.573 ReMncili•lion' of funds: Totsl fvnds bght fard Nel Jythwwt in funds 436.487 {5.3061 117..246 11.7011 553.733 17,CK171 414.160 139.575 Totsl fvnds canlèd foThvard 431.181 115.$45 546.726 553.733 The Slatement of ffinanaal"aGlith$ Inthdes all gain5arNI l¢)sses rFrcgned in Ihe ypar. The nots$ on pages 20 to 37 ffxm part ofthese finartial statements. Page 17
Docu Envdwe Kl." 31FEE82G6584487G826A-CBF73M)ECC THE BOW FOODBAMK LIIIED (A ¢ompany lifflited by guarante•l REGISTERED NUMBER: OB852m BALANCE SHEEr AS AT 31 AIARCH 2024 Note Tangible assets 12 4,210 4.210 Currwrt ass•ts" Stocks 13 14 49,459 f2.193 501.539 49.739 9.173 05,114 Debtor5 Gash at bank and in har)d 563.191 ,026 Creditors.. amuJnts falling due wittmn one yèar 120.675) (10,2931 15 Total net assets 546.726 553,733 Charity funds Restricted funds: R¥trkted lunds. Flyxl .Restricted.thJnd5- NoTrFw¢ 16 16 4.802 110.743 3B,831 78.415 Total restricted funds UrKestrlct¥dfunds 16 115.545 431,181 117,246 43fj.487 16 Total funds 546.726 553,733 The chanty was enlilled to exempti fr(Mn di1 under sa(aw 477 ofth&Comp8nigs Lt 2006. The members have not required the company to obtatn an audit fo¢" the ¥r kn 4U&Slroft in a¢cordance wlth 'sec150n 476 of Companies Act 2006. The Trusts9$ ackrwlsdge Ih8ir.rns&wt8ibli ibes for oynplyiny wth thè Vults of the Act wilh respect to accounting Te¢tyds aTrJ preparation of financial statem. T"he financial statemenls hav# b•gn pr8ped "te0rdon the F¥oMsion5 applkable to enlti¢$ subket to the small comp8nles reglme. The financial slaternts were aFpm¢d and ?Ltr•rised ESbY the Tnjstees and sW8d on their behaff ty. utstullowd¥r Emma Singh Trtsstee P4te: 19 December 2024 Tho notes on pages 20 10 37 fonn part 0fth financial stateffterts". Page f8
DrKustyJn Envelope ID.. 31FEÉ82c4584487c-B26A£BF73Ecc THE BOW FODDBPI4K LIAirrED (A company Ilmlted by guarnntee} STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from"operating aclfvlties Net cash used in opeFating aclivitres I3.9) 135,473 Cash flows from inve5tlng aclivitks Dividènd5. interests and rents from investrrents Purchase of tangible fixed assets 5,528 15.1391 Nèt cash pro¥id•d by Inv•stlng aetivtti•$ 359 1,440 Cash flows.from finan¢lng activib N•t cash pro¥lde"d by financing activiti•s Chang• in cash and sh •qul¥alents in the ye•r Cash and cash 8quival8rts.atlhe b8ginrwng ol thè y•ar 13,5751 505,114 136.913 368.2C11 Cash arbd eash •qUilent&at the •nd of thè ar 501.539 505,114 The notes Pages 20 to 37 fM partof f081S1aIéTr Page 19
Docusign En¥ek)p8 ID. 31FEE82G6584487C.B26A4BF738630ECC THE BOW FOODBANK UMITED IA wmpany Ilmited by guararthèl NOTES TO THE FINANCIAL STATEMENTS FOR THE ¥EAR ENDED 31 MARCH 2024 Genefal infornlalion The charity Trs a Company IiTnited by guarantee regislered in England and Wales and its company number is 08852728. tts r$gistered office address is Bow FcLlbank. 8¥ Communtty Hall, I William Place. London, E3 5ED. The chantys principal places of operation are The Bromley-By-Bow Community Cenire. st Leonard s Street, London, E3 38T and Ra•)è'5 Foundation Schl. Approach Rd, London. E2 9LY. The members of the companyare the TNstees named on pa9e 1. In fhe even. l of the charity being wtyjn up. the liabifity in rèspEd ol the guaranlee is Mited kn È10 per marnber of Ihe tharity. The primary" (yeration of Ihè chanty rernaWd that of runring a foodban Accounting pl¢JeS L1 Basts of ration offinla1 statwne Th• finan1? slatements have been prepared accxxdano th Ihe ChabSt4es SORP IFRS 1021 . AC[En"n9 and Reporting by Charities.. Statement of Recommended Practice aOicable to charitiè3 preparing thèir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republ ol Irebnd IFRS 1021 leffeclive 1 January 2019), the Finanfial ReportitvJ Slandard applieable in the UK and Republic of Ireland IFRS 1021 and the Crynpanies Act 2006 and give a true and fair view of the charitys financial affair9.. The Inlstees fi[rn (he expliat" aTrl unreserv.ed ¢ompliarKe wth #Iri iSlat. The 8ow Foodbank Limited meets the definitthDf a benefit entity under FRS 102. As"sets and rlabilrties ar8 rittialy recognised at hIstr1Cl cost or Ernnsadion v8lug unless othèJwis& ststed in the relevant acwJntiTrJ policy. The financial statèments havè been prèped in GBP ail omouots have been rounded to Ihe [reSt£. nce During the year. the tharitys unrestricted re3eNes deveased by £5.306 to £431.181 12023.. unrgslricted re5eryes levels stood at £436.4871. As in wior yea. a larye PBr¢tntage bf th.is is held as cash at bank awKJ is therefore highly IKIUKI. The trle¢S are of the opinwjn that'the Gharity has 5yffiuent reSeS to maintain lis und¢rtyry op¢ratrts and Ihgrgloro can be ¢on5i¢JeT8¢J a goth9 concem for the imm¢drate fulure. 2.3 Income l incL¥lle 15 recognised onrw ct3rity has entiuement to the IrK1xr. it is PFobth that the inwme knll be wived and the arnount of in¢onp recgivatyle nEasurpd llabty. Gills in kn.nd donated for dIstrrbub ar8 included at vaJualK>n ar rncognised as income when th are distributed to the.prcy¥ts. Gifts donated fot resak a irtluded as income when they are sold. Income lax recoverab. in relation to donations rewv¢d uThJer Gift or deeds of covenant ' recogrused al the b'me of the (al. Inc(me tax recoverablg in r8labffj to inveslrrnt income is reC9158d at lh• twnw the inveslment income is rectyyab.
DooJswJn Envek)PB ID: 31FEF82C458H87C-B26A-ceF7386>ECC THE Bow FOODBANK UMrrED {Acompany limited by guaTant•o1 NOTES TD THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 At£0n9 rdicies (¢ontinu8d) Expendltwe is rÈ(wnised ow there isa tegal (xwrthctbve 0bh'gatJtQ transfer economic bene to a third party. it ¢ probable that a transfei of economic benefits will be required in settlement an th8 amount of th& oblvJation can be Hasured rdiabty. Expenditure is classified byaclivty. The $ of each acfivity are made up of the total of direct Costs and shared costs. i)cluding support cost invofved in undertaling •ach activity. OiFect costs allrilxrtable to a ssngle activity are allocated directi to that acli¥ty. Sharod cosis which contribute to more than one activity and support costs which not attribtjtabk to a swyJl8 acthvity afe apportIe beeen those actNstles on a basis'¢onsistent"wit tho use of r6sources. Centrdl staff costs are allocate(J thè basts of fjme spent, and depreciabo charges all¢xalgd on the p)rti of th8 8ssg1's [. Expenditure on charItae actmties is inujrred dvecuy undertaknng the activitie5 which'further I charitys obje(ve¥. a$ well a$any 8s%)oate<l suwort Costs. All expendilure is #U51¥e of ieCo¥erab1e VAT. 2.5 Interèst rer£ivoble Interest OTr funds held deposit Is induded when rece[vae aTrJ the amount can be measu reliabtyby.the tharity, ttus is nornally no1catIon of the interest paid or payab by th& instliutyo wilh vmon) thè funds are depos"rtgd. In the ¢ase" of a Grfl Aid paw7wit made the Group. irKX)me 15 accr(d when thg paymgnl i payable to the parent charty under a legal obligation. Measur•ment 15 at the fair value receivobl wll n0rn7aMy be the trarctIOn ¥Ue. Where the right kj receive Grft Aid ha5 been estabjished. the Em01 receivabl& is recognlsed investmenl income in the Statement of finafttial actmties. 2.7 Taxation The charity" is censrdered 40 pass the tests sèt out Paragraph 1 Sthedub 6 01 th8 Flnarlce Ac 2010 and theretre it meets the defjnition of a chantabbe company f(* UK corporab.on lax wrposès Accor¢Jryly. the tharity is [tentr"alty exempt from taxation in respect of income or tapital gain ceivèd wilhin catwjries covered by Chapter 3 Part 11 of the cOrraIl0n Tax Act 2010 or Sectio 256 of tre Taxat of chaeats Gains Act 1932, to the 8Xtgnt that $ts¢h incrime LY gal ar appl exdU$Ne to tharitable purposes. iblè ffixed a and de TangiUe fixed assets oosling £MIL or morB are caw&lised rewnisod 4¥hen future economl benefi15 are pYci)able and ihe ¢ost or va• of tho asstt can bè mèasured reliably. Tangible fixed assets are InitialrecOgnised at ttst. After recwition. nder th&cost mDdel. tahgib ffixad assets measure(l at cost less accumulated depreaation and any accumulated Impairm&n t05s¢s..AN costs incurred to briTh3 a tangle fixed.ass8t into its intend9d w01n9 condltton 5ho.uld b inctuded in the measurgmenl of cost. Page21
Oocusign En¥ek)pe ID. 31FEE82C458W7C-826A-C8FT3B63OECC THE BOW FOODBANK LWIITED IA company limlled by guarantee) NOTES TO THE FINANCIAL STATEMEP¥TS FOR THE YEARENDED 31 AIARCH 2024 Aceount¥ig pdi¢ie5 {¢ontinuedl 2.8 Tan ible fixed tsand linued Depre.0 6 charged so as to allre the ost ot laroible re'd assets Itss their resklu81 valve over Iheir estimated useful lives, , Dèpreuaiion is provmjed on the f01bn9 basi5: offi8qUIpMent Comwter equipmenl 33% Reduryng 8anc&Basis 33% R8dwAr¥J Bae Basis Slocks are valued at th9 ILW of cost and net re8fvsabJe v81ue 8fter making albwance for ob501ete arKI sk)W-movKwJ stiw. Cost indudes all threcl $tsand an appropriate wr4Jr)rtion of fixed and variable overheads. 2.10 Debtors Trade and othèr debloTs arè rectrjnised at the sethment amounl after any ts8de dl%ount offered. PpaYments are valued 81 th• &nount prepaid oot ofanytrade discounts e. .bank in hand Cash at bank and in hand ie5 cash and short48rm tmghty Ilquky Inv8strnenls with a short maturity of three mths ¢x less ftom th6 datè 0f.acquislfn Dr opening of the ¢Jep05it or swnilar accoLmt. 2.12 LbilitieS Sto Liabilit5 are rewgnised when thern is an oblKJation at the Balartt.sheet date as 8 resull of 8 P8St event. it is probable that a Iransfer OlOn(C benefft will be required in setuement. snd the amount ol th.e sethemenl ran estimated reliabty. LKgbilitI ar8 re¢ogni8d atthè amtsuot that the eharity anticpates it will pay to Se Ihe debt (y the amount ithas retteiv as advaK*d payments for the ts)ods or services li must prwde. Prowissons are measur8d at th8 best eslimale of the amounts requwed to sew¢ the obligatitsn. Wher8 th8 efffyct oflhelKme value of money is material. the provision is based on the presgnt value of those amounts, discounted at th8 pre-la¥ d%)unt rat8 that reflects ihe tisks spèufic to Ihe liabilty. The nwinding olthe dIs¢JDt is rBEtyJned in Ihe Slalement of finanaal ackn"vib"es as a flnance cost. 2.13 Stnrnts The charily onty has finafKaal assets and finarla1 fkn2birrties of a knd Ihat qualsfy as basic financial instruments. 8a8ic finanryal inslwments are Ènilialty recognised at transaction value and subsèquently measurod al t"r $ttMt Ihe excep1[ of. bank loans V•thich are subsequenuy moasured at amorttsed cost usir@ lh& effe¢live intei meth¢JJ. 2.14 Pensions The charity is a member of a pension arrangemenl NEST aThJ contribulions chty lo the ststernent of Fin8ne4al NAivty as paKJ.
DoGusign Envebpe ID." 31FEE82C-658M87C-B26A£8FT3B630ECC THE BOW FOODBANK LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENfJED 31 IAARCH 2024 cuJnliNJ p)lues (continuad) d accoun Gengral funds are wrestiicte(I funds vthlch alable for use'at the di5Cfetion of the TFUStees i frjrtherance of the general obj'ectives of the thanty and 7Athich have not beeh dsignat8d for oth WTP05e& Rèstricted funds are funds wh(ch art to bg used in 8¢cordarKe w51h speciF¢ restrictions imposed b E1onors or which have been F8is8d by the tharity for particukr purposes. The costs of raising an. administering suth are tharged against ttp sp8cits fund. The and usè of ea£h resir&. frjrbj is set out in the notes to vie financial stalements. D¢onated and ces Dond arè valued at the price the charity woufd payfor a comparable PTodu¢t at. ils mai. SUpp.rrfj supermarket. Prin0 Sefvi5 a valued based on their market value. ibcal ¢¢wntirig estimates and aaS ofjudgment Estirna and Iud9rrnts are conth"nualty $vuated and arè based ¢)n htsttsri& eXper1er and othe tsctors. indudry •¥pÈctats of fijturtr thnts that arè bèlièvod to bÈ reasonablo under Ih ¢ircumstances. Crittcal accounting liMate$aJ &wmptions.' The charity make$ estimates assumption5 CryLcemirvJ the future. The resuln9 accounknng estimate and assumpb.ons win, by defin.0ft, seldom equal the related actual resLdts. The trLtsteès #re of the opinio that Ihe lolkjwing is a S•3nrficant acc¢Juntw estifflate: Tho chgrily recet¥es donations and seThices in kind. The Val of proknno services is based on th open-market valuè be payablè for such a seNice. v.aluè of fcyyj donalK$ in kind i based on the comparative value.of pur¢ha5ed gr*)ds #l on¢ ofthètharitV$ main Supy1ng superm8Tkets. Page 2>
Docu%gn EnYeknFe10.. 31FEE82C4584487C-826KBFT3W)ECC THE BOW FOODBANK LIMITED (A Company limlted by guaranl¢*l NOTES TO THE FINANCIAL STATEMENTS FOR ThEYEAR ENDED 31 MARCH 21)24 Income from donaltons and legacaes Restrided UnstriCted ReSt{ted fund5- Non- fun(is funds- Food 2024. 2024 Total funds 2024 2024 Donations Grants 501.473 35.750 4.097 99.403 37.955 2U3,051 543,525 338.204 537223 103.500 881.729 Restn'cted Unrestricted" Resln"ded fund$. Non- funds funds- Food 2ff23 2023 Tatal IvThds 2023 2(F23 Donations 489.078 43.&11 489.078 318.695 Grants 189.1(Kl 532.689 85.984 189,100 807.773.
Docusb3n Envekjpe ID.. 31FEE¥2C-6584487C.B26A-CBF7386ECc THE BOW FOODBWIK LIMED IAcompany limitsd by guaranl••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Inv¢sknent itwme Unrestricted fund$ 2024 Total fvnds 2024 Inlornst 5.528 5.52a Unrgstricled fund5 2023 rotal funds 2023 Interest 1.440 1,440 Eypenditureon raising funds Fundratsi ex Unreskncted Restricted funds funLIs 2024 2024 Total funds 2024 Fundtai&ng 8XP8Th1 9.168 urtriC fvnd5 2023 Totsl fL¢nds 2023 Fundraising expanditwe 540 P•Je 25
DO(19n Env6W ID.. 31FEE82C4584487G825A-CBF738630ECC THE BOW FOODBANK LIMITED (A company Ilmited by guarani¢el MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AnalyBisofBxpenditure on tharitsUo aclivfaes Sum Unrestricbj furMIs 2024 Resfricted fvnds 2024 Total 2024 Foodbank Advice 534,131 13.728 337.039 871,170 13,728 547.&59 337,039 884,898 Unrgstricll fun 2023 Re51rided fvnds 2Q23 T¢)tal 2023 Foodbank 219.258 638.801 30.299 30.299 449.842 219.258 669.100 Arwlysi% of exrnltUrtt by adiw.lies Activitse undertsken diréctly 2014 Total funds 2024 Focrtlbank 871,170. 13,728 871.170 13.728 884.898 884,898 undertaken directly ?023 Tolal funds 2023 F¢x>dbank 638.801 30.299 638.801 30.299 669,1CQ 669.100 PBge 26
Docus&n EnvebpE ID.. 31FEE82C4584487C-B26A-CBF738ECc THE BOW FOODBANK LIMITED IA ct)mpany limlted by guarnntèel NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 PIARCH 2024 Analysis of eWdibJre by athibes Iconlinue(l) An*sis of dired ¢osts Foc#Ybank 2024 2024 202 Staff costs 143.025 926 443.510 199,990 13.800 143.02 Depreaatiori Food Purchases 443.51 199,9 Donaled Focrfl Preffises" Legal & Benefits P Freelancers Recruitsnent 13.72 A¢countsncy, FiHice & HR Fees Printing & 01 Website & IT Transaction Fee5 Transport & wareh¢sIng cos.ts SubscrFtion5 Small Equipment SuThlries 17.087 3.541 7.937 3,700 12,664 17,08 7.93 3,70 12,66 1,592 502 1,985 8.936 1.592 SQ2 C.leaniThJ Insurar Non-payroil related slaff Costs ¥olunteer & Events Non-Food Supplies Comms & Marketing Govemanca costs 1.985 8936 8.so 1.83 1.830 932 871,170 13.728 B84.898 Pag8 27
DOCjn Envelope ID.. 31FEE82C584487C2tsAF?38G30£CC THE BOVI FOODBANK LIMtTED IA ¢ompany Ilmlted by guarantè•) NOTES TOTHE FINANCIAL STATEMENTS FOR THÉ YEAR ENDED >1 MARCH 2024 of expendthjre by 8ctwlties Icontinued) Anatysis ofdirnctcosts ntire0) Total fijhds 2Q23 F¢)Jdbank 2023 Adyir 2023 Staff costs 97,615 97,615 Food PurGha$è& Oonaled Food Premises Le9al & 8en•fits AdvKe FreelarT5 305.041 177,561 305,041 177,561 4,2QQ 30.299 8,610 1.699 3,744 30299 8.610 1.699 3.144 RecnJÈtment Accountancy. FinaKe & HR Fees Printing & Office WAb8itè & IT Transacts"on Fee5 Transport & wahOUS1g Costs Subs¢ripb"ons Small Equipment Svrtdfies Cleaning Insurance NonP8yroll tated staff costs Volunteer & Donor E.vents Non-Fs)od Suppfies Comms & Marketin9 l%v&mance costs 2.334 26,004 9U 1.816 1.816 3.773 1.241 1.241 1.913 1.913 176 773 176 Total 2023 638,801 30,299 669,100 Indepwth examinèrfs rènnerat)n 2024 2023 Fees Paydble to the.rharitys ]rependen1 examirw for the independent examination of the ¢haritY5 annual acownts Fees pardble to the Charitys independent exarnww n respe¢l ¢fr. All taxation advi50ry seFviGe5 not in¢Jud8d ab hll other wices not indurjed above 3.180 3,000 300 3.288
Doujsvjn En¥)10. 31FEE82C4s84487C426BFT3es3OECC THE BOW FOOOBANK L1T£0 IA company1Smlted byguarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Staff costs 2024 Wages artd salies Soa31 wurty )sts Conlribution to defin•de(ffiteitrNJtioTrynsron Schemas 132.121 7.985 2.919 4.77 2.753 143.025 The aver numb'er of pa)n$ empwd by the" charity durirvJ the year¥Ms as fdk)ws:" 2024 202 No Oife¢tcKs Admin and fronuine stsrt 1D 10 15 13 No eiTlJloyee recived 1rra1V)ll atrw)unting to more than£60.fyJO in ether year. Key managernenl is reFwenled by the chariWs 2 CEOS. Total key managern•nt remunerton for th year amounled lo £72.144 (2023: £41,962 for one CEO). Trustees'"remuneration andexyenses During th8 year. no TruÈeS received anyrnmuneration oroth8r benefits12023-.£NILI. During the yw endod 31 21124. nu Tiust¢e"exp•nses have b89n fftcurrgd12023- £NILS. Page 29
Docuygn ID." 31FEÈ82c458¢487C-B2&4-c8F73CECc THE BOW FOODBANK LNrrED (A Company limited by 9uarattt•e} NOTES TO THE FINANCIAL STATEMENTS FOR THÉ YEAR ENDEO 31 MARCH 2024 12. Tangibk fixed assets C(Mnputèr equpmént equipme Total Cost or valuation At 1 Awll 2023 Additions 4,736 400 5.136 Al 31 M8rch.2024 4.736 400 5.136 At 1 April 202$ Chav9è for the)ear 67 At 31 March 2024 859 67 926 At 31 March 2024 3.87T 333 4.210 At 31 Marth 2023 13. 'Siocks 2024 2023 Food Stock 49,459 49,739 14. Debtors 2924 2023 Due within on Trade debtors Othei debtor5 Jr 275 11.918 9.173 12,193 9.173 Page 3D
DoGuslgN En¥dopg ID". 31FÈE82C4584487C-826A-CBF738ECc THE BOW FOODBANK LIAlED (A Company Ilmit•d by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2024 T5. CrerJitoTS.' Amtyjnts Iling wilhirrone 2024 2023 frnde CdItOrS Other taxation and stt481 seuwity Accruals 7,771 5.685 2.628 1,980 3,180 20.67S 10,293 P*Je 31
D(xusW Envdope ID". 31FEE82G6584487c426AiBFT3BÉCc THE BOW FOODBANK LWITED (A company Ilmited by 9uaranteel NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 klARCH 2024 16. Statement of fiJnds ststement of fvnd5- cuwrpnt year Bala[ at 1 A1[ 2023 Balance at 31 Inctxne Expenditisre March 2024 Unrèstricted funds General FuAds 436.487 5417S1 1548.057) 431,181 RestrKtet1 fiJnds- Food Baby Formula- STrrrMJn Harris Ba"rbt8n Giving Belron Ronnie Lubrw Charitable Fourxl8lK Cost oTLiving Community FLmd Drax (Holiday Fc#)dl East End Community Grant Pet Food- PAAWS Belvedere Tru* Fishmongers Headley CeltEc FG Rotary Chjb London Commuftity Resp The Peter Stebbings MerrK)rial Charity 1.¢JOO 1,OLKJ (1,3001 5,0 75.0 175.0001 17,5001 2.700 473 {1,5271 115.000) 18.0841 114,6241 (4,0001 10.(M)O 5,CQD 37 8.247 5,000 15.4941 15,0001 2.753 38,831 1Q3.5C4) {137.5291 4,802 pa 32
Docuslgn En¥dOl0.. 31FEE82C-658U87C-B26A£8F738630ECC THE BOW FOODBANK LIMITED (A MpanY limited by guarantetl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16.. Stslemont of fvnds {conb"nued) Restricted fvrKI FiShonger$ Garffeld Weston 120.3171 139.9151 {15,SryII 1119.1931 Rausing National Lottery C0mmL1ty Fund Avivia SNG Kenvue 21915 2.02 33.955 10.000 IH$nniNJ -.Napi%ès Toibts P8ns¥)ner Atd- East End Comnyunty Period Producis Stsff Wages Uplin Fund Volunteer Management Buikling Costs- Beatrice TnJ8t eullding Costs- SJP 1..750 10.CKJO 10.(100 5.297 33,720 2.500 .621) 129 10,1)J 10,00 13.4431 16.865) 11.500) 26, 2.500 13241 2,176 78.415 241.CK)6 1208,678) 110,743 TO RestrtEted fur•J5 117246 344.506 1346,2071 To l of funds 553.733 887.257 1894,2641 546.726 Reslrfthd Funds - Food - TIe sources L5f inc4)me rèpresent funding for tho provision o Rè¥triet•d Funds . Non4ood . The¥e swrces ol irKorne Tepfesent fvThYing restrl¢tèrl for non.fots items, sud) as jdIng maintenance. salaries. admin costs and thè provisK)n Df non-fooij iiems such nawes w sanitwy'items. P4¢ 3>
Dow5wn Envelope ID.. 31FEE82C4584487C-826A4>F730630ECC THE BOW FOODBANK LJMITED IA company limited by guaTant•el NOTES TO THE FINANC.IAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement offvnds Icorytinuedl Stslement of.funds-priw)par Balanceiat 31 Mar¢h 2023 Balanr at 1 April 2022 Inc FXpendrte Unrèstricted fvnds General Funds 352.740 534.129 149).3821 436,487 d fvnd5- Foc Baby Fomiula-SThon Ha15 Barbican GiMn9 Belron Ronn LLther Charifable Fovndalpjn Cost of Living C(rnvnily Fund Drox I1[13Y Food) East er Community Granl Pet Food . PAAWS Belvedere Trust Fishmongers H1$Y Cettic FC Rotary Club London ComTnunity Rspy)nse The Peter Stebbhn95 Mernofi* Charity 15.Tr)0 15,000 584 10,GOO 36.J384 10,000 4.10 {36,4(M)I 3.(XlO 1.100 8.247 (7,OCQI {I,IlXJI 8,247 .5.000 32.347 144.500} 38.831
Docusign EnYekJpe ID.. 31FEE82C-6s64487C-826AF730630ECc THE BOW FOODBANK LrtED c(npany Ilmited by 9uaranteR) NOTES TO THE FINA14CIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of fijnds (eontinuedl eslricte(I funds- Non4cM)d Fishmongers G8rfld Weston Rausing National Loitèry CommLtnity Fwvj 10.( 40,£KJO 50.000 99.1th) 110,OCN)) 134.50_QI 178,5621 15,50 22,91 2,397 SNG Kenvue iHonnin9- NappRs Toilets Pensioner d- East End coMnrty Pericd Produds Starf Wages u1ft Fund Volunteer Management B"uifding Costs- Bèalrice Lg Trust Buldiny Costs- SJP 12.397 189.IC 1123,082) 78,41 T tal R tricted lund5 240.084 1167.582) t17,24 lor 397.484 {617,W) P89E 35
DDcun Envelope ID.. 31FEE82C-6584487GB26A£BF7386XECC THE BOW FOODBANK LIMrrED (A company limiled by guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 WtCH 2024 17. Anal$ of net ass between fvnds Anal1$ OY net assets beh¥8en fu.nds_ cwrent period Restn¢ed Urwestricted Restricled ftjnds. Non. lunds ftmds. Ftx 2024 2024 Tot81 fvnd$ 2024 2024 "Tangible fixed assets Curreny assets 4.2111 447,646 (20.6751 4.802 110,743 563,191 {20,6751 Creditors due within one star Tolal 431.181 4,802 110.743 546,726 AnaWs of net asset& beiween fvnd5. pri period Urneslricled Restncted funts. Js ftAfNls- Food 2023 2023 Total fvnds 2023 2023 Cult assets CréditOFS due wilhvt )ear 445.780 110.293) 38.831 78.415 564,026 110,2931 Tolal 436.487 38,831 76.415 553,733 18. R?¢0clallon of net IrMnI knds to n8t c*h Ik)w frL¥n opernting acbyities 2Q24 2023 Net incornejexpenditure for the p8fiC#J (as per Ststèmert of mal ActMlie4 17.ODn 139.573 Ad"ustments lor. Depreuation charges OTvidend5. interests and rents [n¥estrnts Decre8sel(increasel in slocks Oecreasel{InCa in deblors Increase In£re£torS 92 15,5281 U.440) 13,6671 6.065 4.942 13,0201 10.382 Net cash rovided 13.964) 135.473 Page 35
DopJ&gn Envdope ID. 31FÈE82C58W7C-B2&4£8F738630ECC THE BOW F(SODBANK LIMITED (A ¢ompony limlted by guarantee) 140TES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MIRCH 2024 .19. hnaty5is 0fh9nd cashe9ulvaknts 2023 Cash at bank haThJ 501,539 505.114 T81 cash and cash u1val¥ts 501.539 505,114 20. Anafysis of tanges"in rrel debt At 1 April 2023 Cash Ilth¥s At 31 March 2024 Cash at bankand li IWKI 505.114 13,S75) $01,539 505.114 13,5751 501.539 21. Rglated party transathons t)uring the year the total donalirffis recei¥8d from Irustees arnounted tu £2,10012023'. £3.CWI. No Injsle recwved rermbursement gf expenses in eith21 2023 or 2024. Pa9& 37