DoNsh3n E￿eknpÈ ￿.. 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 #74 Do¢u$vJn Env¢bpe ID." 31FEE82U58M87GB26KBF738630ECC THE BOW F¢)ODBANK LIMITED (A cofflpany limited ty guarant¢•} GONTENTS Page Reference and ajministrative detals of Ghwtty. its TA￿tee¥ and adTh ChaThon's slatemehl Trustees. rBPOrt Independgnt examin¢rfs re Statement offinanc4al acti￿ties. 4-15 17 Balance sheet 18 ststèm$nt of ¢ash flow5 19 Notes to tbe finanaal staigmgnts 2Q-.37 Da￿S￿n 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$tered number 1162.185 Registered office Bow Fc*>Jbank Bcw Commuruty Hall 1 William Place London E3 SED Company5ecre Kristin KonschnTri (until 18 2024) Matthow Gil lfrom 18 AP￿ 2D24 Accounlants RPG Crouth Chapman LLP Chartered Accountants 40 GracechurEh Street London EC3V 08T Banke Bardays Bank Pk 56158 The Mall London E15 1XJ CAF Bank 25 Kings Hill Ayewe Krys Hill Westmalling ME394TA Independent E￿*niner Jeremy Tyrreil FCA 40 Gracechur¢h Street London EC3V OBT Docusiw Envebpe ID.. 31FEEfi2G6584487C426A-CBFT38630ÉCC THE BOW FOODBANK LI￿￿ED IA company limited by ￿wante￿I CHAIRMANS STATEMENT FOR THE YEAR ENDED 31 IdARCH 2024 The chainnan presents his statement for the ytar. Bow F￿jbdnk has faced maior thanges ￿ 2023 as ￿ maroged the contin¢Nng uncertainty over Ihe tiffjin9 of our move ¢0 our new piemise$ at Bow Community Hall by Roman Road maFket and the inueasing demand for fcod support. We ￿eded lo move c*Jl 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 ￿nsO￿lIate 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 (4*rat#)nally in ty"ThJ to physically manage the number of people accessing our support as wetl.as fInanc￿ly. Our weekty numbers regularly exceeded 900 adutts with" over 600 children's bags be¥ng issued eath week. After careful ￿n￿derat￿)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 f￿S more. vf our support on our Tower Hamlets nevJhbours. Whilst have conts.nL￿d to provide the faalty for peoF4e in need of immedi*t 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 so￿00 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 suppth*ig 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 eVer￿￿e who ¢ame to Ihe foodbank received a consistent ￿e1 of food SUPF#￿. ir￿lUding 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 b￿lS under S￿nIfICAnt Pfessure to make sure we delfveFed on our ci>mmilmÈnt to our guests. So. my thanks on L*haW olau ol Ihg Tnjstees lo ajl our staff vtho worked so hard for the FoJdbank throughout 202>24. As always, the ¢oMIr￿tm￿n1 of our wlunleers to prowde food SUp￿rt k> our neighbouNs is Irwjiring aThJ the Trustees wsh to express their gratitude to air the VOIL￿teerS eveTrThe vtho has I￿rked 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 (Ar 811 of th help and support vl8 receive from tyjr th)nor5. and partners. W8 hav• had to maktr a hugg fundraising effort t ensu￿ we Could c<)nts"nue to k)fovKle fthxl for the inueased numbers ol people coming to the Foodbank On thout the commitment of our 5UPPOrtws. our mission to provide support for those in our community rnost i nee¢J woukj not be w)ssiblo. The delays in the instsllalion of a lrft to the new premi88s and other hurd￿9 meanl that we were r￿1 able to mov to Bow Comrnunity Hall until the surnmer of 2024. We ended Ihe 2023-24 year looking forwa.rd lo out ffl0￿ t new premises that will gi¥e.Ihe Foodbank the opFtyytunity to offer the wider range of support that our gUÈSts nee as we look to firwj routes out of poverty fty them. We aLso knoked forward to a change of Go￿rnm￿l wilh th hope that'ihe poverty, e5peryJty Ihe chikl poverty. that has té8n" drTvin9 the demand for our support rnighf begl to b8 addressed. 11 is our hope that in the longer tÈrm fewer peO￿e in Tower Hamlets will need our support b while there a￿ bcal people v41KJ StrLV3le to afford fcod for Ihemsefves and their families, we CAMtinue to b there for thém. Steve Gilwn Interim Chwr D¥t&: .1 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 Statem￿tsDf 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' Rep￿t 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 docum￿ts and the provssions of the ststemenl of Recommended Practic* ISORPI appl1ca￿e 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 qu￿1r￿ as srr¢ll Under Se￿h￿ 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 ￿1￿1 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 c*JeTated iMt* kvlbanks during thss fvlarwial year. ong based in Ihg 8romley-tJy- 8ow Cenlre, which was open every m￿daY 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 R￿ne'S Foundalion School in Belhnal Green tsmporarity while It secured a ￿8$e for rts Klènknfied permanent.&te c(¢ Roman Road in Bow. The Tnjstees believe relocabng.the foodbank to Bow ￿ of great irrportan¢e as Ihe move WAI put the foodbank ITr Ihe heart ol one of the mosl deprived communilies in the country, with the h￿hest rates of pensioner and child poverty and where more hwseholds than an￿there else in the o)unty ale solely dependent.on benèfilg. The Trustees a150 beliove Ihal hawr¥J one pernanenl site will alkyw for 9reafer fle￿bi￿ in prow5ion and auow the charity lo taik)r support to differertt grwps of individuals seek its supp￿t. The d)aritys principal actmty to emew9ency and olhttr essenlial rtems to ihdivwjuals and families facing food poverty, to help them manage Ihfough a crisis. The tharitys ethos is focused on being welcomirvJ and non-jvdgem8ntal and poop￿ can a¢¢ess •mer9Bncy food •nd othor e559nti¥l ttopns without the noed fot a r•f$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 peO￿e kjoking to use the foodbank. The charity's staff idèntffied several cause5 for the signknnt i￿reaSe in the firsl six monihs of the year. irhclurfing an in1￿X of inlemational students needing support, who were unable t0 Access support elsewhere. Another Sou￿8 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¢￿$S to Ihe charrtls f(M)dbank_ Finally. the charity ¥Jentified that a small numbèr of pbople had trè8te¢1 sèeond8ry artsunts trj accessadditional food. driven by the deepening c05t of living eriss. table below shows an increase of approxirnatebj 2W peopb regislwing forforyjbank sUp￿rt in May 2023 as compaied lo'the wor monlh. an incwsg of 160%. Thi5 sKJnfficant incffjase was trKJ9èred by increased nurnb&rs in the three cat￿or￿S identified above. The pattern OT inueased enrdmentg ￿)ntInUed inlo. July.. as a rgsult, by August 2023, Ihe fwdbarik'5 monlhty visits had roughty doubled from the expected (and budgeled.lorl thl. T"hi$ irtcreasÈ and the ortgoTng food inflat*Jn resulted Trn the charity'5 expected tspend on fol￿ supplies tr￿11￿9. DOcu￿gn Énvelwe ID.. 31FEE62e-658￿7￿26A4BF73￿OECC 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 re￿stered 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 reCc￿lS8 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￿ ((Ju￿1cate) 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$nts {￿ *ffiom the charitys objects are focused) did not have access to 5UPPOrt fr suffounding boroughs: if the charity had C￿tinUed lo provwje long-terrn suppwt for pecye outside Tow Hamlets. this would have rrealed iwuality and w(NJld have disad¥anlaged the people in the ge￿phiCal a on wh•* the tharrtys obieds are fcthsed. charity make exceptsons to the three-ViSit ￿Mil for non-Tower Hamlets ￿￿￿ents for lil a5yknm seeke who coukl access food support Ihrough thè d￿lity once per sbEek T#thi￿ thwr a$￿￿M application was bei ¢onsidor•d. and lil) Ihos• Iwbng in ? tetsje. wtw) etyjld access I0￿j supwt Ihrough the charity once per we they were e¥iablk8htd in pefmanenl Iwsin9. Bow F￿￿bank 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 Charit￿5 obiecthves aThJ plaMw)g ts xti¥ll￿s. the Trusle¥s have gwl C{￿￿1¢r￿tiOn lo genaf guidance pthished by the Chanty commissi(￿ ￿t￿g lo benefit induding Ihe gU￿lane$ 'Publi¢ ben nning a tharity IPB2)'. Stsff and Vol￿t•¢ The numbers of voluntèars supports.ng B(N4 Foodbank intreased signffKanlty during thls fin￿181 year. wit approximatety community volunteers arnl 6W cowate vobjnteers partiopatirwJ. Page S DctU5vJn EnvtW10.. 31FEE82C*5844B7C426KBF73B630ECC THE BOW FOOD8*JIK 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 ne￿hboUrS 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 co￿late vdvnleeTS this ￿r. The tsble below Ihe number of ¢ornrnunity vdunieer hours pèr month. App￿ng the London L￿Ing 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 don*ion points. These thange5 increased the amount of donated fctyJd and ensurod Fc*Jdbank could pufGhase food at the best ¥￿U•, whieh helped it managè risk$ Tèkted to fotyj ¢ost inftab.on and the incr¢•$•d r￿fflber 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 *ad￿t)nal help and support. This SUPPOrt was parb'culaty important after Spwemter 2023, TwhEn the charity no kJn5eT hosted a foodbank at thè Bromle*by4ow 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 YE*R EMDEO 31 MARCH 2024 R•vl•w of activltl•s In the 202312024 financial year. Bow F(y>Jbank again saw an inC￿aSe 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 NaM￿ts 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 1￿meleSSness. The charrty aLso saw an inu&as¢ in guèsts eXpe￿n¢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 FoOdty￿k Iwo days a we of volunteer ttme to map loc31 referwal swvtss. armj supported the c￿ty.5 wgsts in a￿05$1￿9 additio help and SUFQOrt. Thg ¢harilVs guésts vabjad the intrOd¢JCt#￿ of wMitw)nal services. vdwch helped #Jentify mostaneeded areas support, and tdd t￿ charity that these &lditional seryices had a sigrmficant impacl on their situation5, partiCLtlar as the help was offergd via rrighbours Vlrythin the cOmm￿lty. again part of Bthy Fc*yJbank's èthos. These a Iwo ￿rnrnents Ihe ¢harty received guests in relatK)n to this addrttonal support.. -Thank Y<￿ for the refeffa knr. The stress pardlhsed me aThJ consumed my h8allh. I contsctèd tre police social services child prthction kam... Unffftaiety. Wefe slow to act. Ycw got mè a lawyer and nr&w chihJTen afe sale.- "I wasn't sw0 ¥thwe ¢0 w for hglp and made it ¢asy and gave me the confident• ￿ ask tor hdp." Swnm*y Stadsto￿. During tr* past ffinanc￿ year. Bow FwAIt)8nk provided 33.287 individual and 26.480 children'$ p?rceb. which the equivo￿nt of 358.602 meals (based on the UK Government's DEFRA measure of4509 per me811. DotyJ*Jn Enveknpe10.. 31FEE82C*5844B7C-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¢x*Jbank 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 dOnat￿n 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 W￿ed ￿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 lett￿5. 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 ThUM￿r of guests with no rec(*Jrse lo publK funds. wfhgr because they were aS￿￿M seekers or berause they were a student or work visa. The ￿¢Tease in the number of $iudents 8n(I lower paid workers requiring help from the charity was a direct resutt of local Workfo￿ shortages. *ith additional care workers being recnjiied from abroad. Further investsga11c￿ often re￿￿d that peopb immigrated to the LIK Tr*hth the promise of a job. only to be faced hidden ￿$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. Docu*w EThvebp2 ID.. 31FEE82C4SB4487C-826A48F738630ECC THE BOW FOOD8ANK LIMITÉD (A ￿MP￿Y limiled by guarnnt¢e) TRUSTEES. REPORT {CONTINUEOI FOR THE YEAR ENDED 31 kWJb8nk 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 scor￿IcallY 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 rel￿ne0 on tr*ir husband's visa stabJs to remain in the country. or to rewt Ihat their rhild benefit goes dIre￿Y 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 SU￿7￿￿• knwlation pop￿•110* Etlmklty Ban818do9*i 8•nglbd09hi Indi8n ot 8viti#h Indiath While Britilh Z015 12579 5 IY31 J )1.5616 Tr.641& )4.60* ?4.5￿ ).104h Ir1¥hi￿ll1$h Whitt Eufooe•wother B￿ck￿rrican Anyolhèrothn￿1r0up 11.3416 15.02* 22.9041 J.114h 14.60 283 1725 2051 3 1.1Slb Preterftot ro¥ay 8&ck Br￿18￿ OtherAgi•n b8ckmnd Othar MtX¢dlMuitipie bè¢kground Arab PAac*CaTibb•a Paki&tanioi Britith Pakigthni Other 8lacXIAfvi¢8rblC8ribiJv•n bac*yoL4nd Wknit•qnd BiAckCwibbfr•n 1.129 147 12Z 1.34* 1.741b 97 1.5 1.461b 1.64 ).94* ).16* ).91V• J16 ).75* 120 Hi$poni¢ Thiiq and BlaCkAfr￿rt J.$2 )A4ql ).51gk ).71 28 1.10 *4ot Perskgn 24 193 3 mor Turki*Th th1t0andA$￿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 access￿9 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 in￿aSe in Persian a$￿uM soekers. due to curyent political events. P48 10 DocU￿N Envelcpe10.. 31FEE82G658*487C.B26KBF738630ECC THE BOW F0008ANK LIMITED IA company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The most significanl change in ihe increase in Ir￿lan and Indian Brits"sh gues15 0¢¢essing the f<)odbank. Whi most othèr gthniciknes map roughty to the Tw Hamlets. deffwraphic profik. 24% of the charivs gues iderirfEed 0$ 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 FO￿Jbank 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 Internati￿al studants arKI thaT dep8ndents. wfK) Could nc+l use other IC￿ emergency focKI servi￿S as they h no reCoL￿g ttj public fvnds. Thi5 d*mcv)strdtes h(rw Bow FL￿￿b3r>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 p￿deMiC 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 increa*n9 gu￿1 numbers. While the Trustees we reluctant to bar this group from accessing fc*)d support {givgn the C￿al 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 to￿5 on Towèr Hambts reshlgnts, irrespecb.ve of immigrats'on statu allowed Bow FoodbaTh% to m￿galO theso sigThfrant finanrial risks. wl¥le horwring il charitable obJ'ectiV88. These changes in the ¢han"tys access rules also erKouraged it to t*Jild 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 tr*m time and exF*nse in traveling to Tower Hamlets. The partnefships allowed Bow Foodbank tt> stsrt sharing leamtll9 Wtth its ne￿ahboUrS and to deepen th& conversat. re9arding trends Ihat are effectivè in supporting those experienon9 food I￿rty. 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 ￿Mf*￿￿b1e commUn￿tIng in ErvJlish. T 'Other' calegory ￿PreSents 28 diffe￿1 larrfJuages spokèn by c￿r guèsts, but at a f￿quencY 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 5ecorwJ4ig￿st 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 Ru￿aTr￿Jkra1nlan w again highlightmig 1)tomat￿l 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 profess*Jnal fundraisers ￿ sypF(wt its graDt and trust fvndraising and online fundraising c8mpaigns, with an oufjay in th"$ firgncial year of £8.8fKI. The r*arity 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 cC￿tinUe 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 freql￿cY 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 regardir*J 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 dr￿￿ted 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 inc￿re￿ shoukl these donated itws nÉed lo be purcha￿. In addirion. a nvw prernI￿ has been identified wth suffic￿1 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. un￿sin"￿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 ￿$ts and foundations. ￿rpOrate fvrKling parlners, 1he organi5ers of fiJndrassin9 events for their financial d￿al￿)n$.. and to bFal businesse$ 8nd individua15 donaliry focé. Paga 12 OoGusign Envdope ID.. 31FEE82&6584487C426A-CBF73￿ECc THE BOW FOODBANK LIMITED {A company Ilmited by guarantgo) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCtrI 2024 Expenditur• Our $X￿nditUre this ygar was £894,264 12023: 669.640), represtnted by I¢)￿￿ ¢L)St8 81 £443.510 {202 £305.0411 and other costs of £450,754 (2023: £364,5è9}. curr8nlly.we proyide a standard bag of footl (10 12 items) and d￿nts are atle.to tht*)S9 2':_3 rfems of hou56h goodsltoilètriss. Each family wth a thikj reC￿veS extra food items. ￿th an extra item for each addilional child. Future Plan5 Bow FoeAdbank tem*ns commltted to supptiiting ansTh* in n*J Hamkts. To achieve this 9031. th . nèetj for a pem)anent home has I)ecc￿e increasiry Mlal. The tharty believes Ihat Ihe inability lo ¢onlinue operate from Ihe 8rornley-by-Bow Centre has h8d a signifThnt. adverse impact on it5 guesis. resulting ' ur￿ertaInty in the supp)rt guests can expect to receive. whi￿ many guests moved with th8 ftsodbank when onsolid¥ted its op￿alOn$ al Raines Founrl4tvn Sthool. many guests ha* disabilib.es and mobility issues a the ¢urrent location at Rair*'s Found8￿n SchcK)l in Bénlhal Green is not wel-connected to the resl of th iwough Se£8￿ble 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 .cpportun￿eS tp provide greater impaci for its guests and to increase its sign posting wort to hglp guests buil thèir financaal. so(iai arid emol￿al resil1e￿e. A .dedicated SFwe also aNows Bow Foodbank to olrer mo oico to guests in terms of foc*J prowsion. as well as shorten 1he b.me guests musl queue for fTrJd, which offa them dignty and vaues thelr time. The c*arity also 15 rJ)nsiLJering the use of online platrorms lo further suppo Ihe goal.of offerw)g dtgrmfy.and C￿lee to.ils gu￿ts. 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 rew*ds for t¥ne and iivestrwit in Ih*footh)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 I*￿th 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 SIr￿lar charities in Tower Hamlets and neight4Juring boroughs, t enable coifective strategic ptanning as lo how best to meet the r￿dS 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¢)v*manc• and management .Constitutlon The Bow Foodbank Lithrt& iims registered as a pnvate cofflpany ￿Miled by guarantee op 20 Janu*y 2014 and is govemèd by a re￿Sed 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 SchedU￿d to monitor perat￿al 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#￿t￿O¥Y basis. All Tntstees give their time freety and no Trt￿te￿ 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 r￿eNed 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.. 31FEE82C*S84487C.826A-CBF738630ECC ThE BOW FOOD8AJ4K LIMITED (A company Ilmited by guarantsel TRUSTEES. R'EPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Fin*ncSal 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 ant￿1pated 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 T￿￿tee$ responsibilities Thè Trustees (who are alSO.t￿ directots of th8 charity fc* the of Company lawl are responsible f pre￿ring 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 appl￿tion of resources. induding income and ¢xpèrKliture. tr thè pèriod. Irt weparir8 thssè fina￿la1 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￿ e￿alr￿ 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.us￿8$5. The Trustees are reSp￿Sibl? for keeping adeqtsate accounting r8COTd5 that are Slrfficlont lo show and explai the charitys transadions and disclose vthh rea￿ab]e a¢¢ura¢y at any time the finartial posrtion of the chari and enable the Trust8OS to ensure the ffinancial statements compty ￿th the Conpanies Act 2006. Thg Tru$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"41SA￿I theCompani85 Ac* 2008. Approved by order ofthe members ofthe boarf ofTrusteesand 5￿J￿ed 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 Independ￿t exarrdnerfs report to t￿ Trustees of The Bow FOodb￿k Limiipd ('th• ¢h8nV} I rfjport lo the d)arity T￿St￿ on my exaThMnaivM of accounts of the c￿lty 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 respOr￿1b1Q for the preparation otthe actsunts in aCcOrdaF)￿ with theww￿rnents 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 ￿5r￿1 of the d￿rity 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 cons*Jered 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( LL￿d￿. EC3VDBT Pagb 16 OotrJ*n 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 b￿ght f￿ard 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 rFrcgn*ed 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 LIII￿ED (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 Vul￿￿￿ts of the Act wilh respect to accounting Te¢tyds aTrJ preparation of financial statem￿. T"he financial statemenls hav# b•gn pr8p*ed ￿"￿te0rdon￿ the F¥oMsion5 applkable to enlti¢$ subket to the small comp8nles reglme. The financial slatern￿ts were aFpm¢d and ?Ltr•rised ES￿bY the Tnjstees and sW￿8d 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£BF73￿Ecc 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 •qUi￿lent&at the •nd of thè ￿ar 501.539 505,114 The notes ￿ Pages 20 to 37 f￿M partof f￿￿081S1aIéTr 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 FcL*lbank. 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 rernaW￿d that of runring a foodban Accounting p￿l¢JeS L1 Basts of ration offin￿la1 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 #I￿ri￿ *iSlat*￿. The 8ow Foodbank Limited meets the definitthDf a benefit entity under FRS 102. As"sets and rlabilrties ar8 rittialy recognised at hIstr￿1C￿l cost or Ernnsadion v8lug unless othèJwis& ststed in the relevant acwJntiTrJ policy. The financial statèments havè been prèp*ed 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 tr￿le¢S are of the opinwjn that'the Gharity has 5yffiuent reSe￿S to maintain lis und¢rtyry op¢rat￿rts and Ihgrgloro can be ¢on5i¢JeT8¢J a goth9 concem for the imm¢drate fulure. 2.3 Income l incL¥lle 15 recognised onrw ￿ c*t3rity 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 inveslrr*nt income is reC￿9￿158d 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£0￿￿n9 rdicies (¢ontinu8d) Expendltwe is rÈ(wnised ow there isa tegal (xwrthctbve 0bh'gat*J￿tQ 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 H￿asured 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 apportI￿e￿ be￿een 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 charIta￿e actmties is inujrred ￿ dvecuy undertaknng the activitie5 which'further I charitys obje(*ve¥. a$ well a$any 8s%)oate Docu%gn EnYeknFe10.. 31FEE82C4584487C-826KBFT3W)ECC THE BOW FOODBANK LIMITED (A Company limlted by guaranl¢*l NOTES TO THE FINANCIAL STATEMENTS FOR ThEYEAR ENDED 31 MARCH 21)24 Income from donaltons and legacaes Restrided Un￿striCted ReSt{￿ted fund5- Non- fun(is funds- Food 2024. 2024 Total funds 2024 2024 Donations Grants 501.473 35.750 4.097 99.403 37.955 2U3,051 543,525 338.204 537223 103.500 881.729 Restn'cted Unrestricted" Resln"ded fund$. 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-CBF7386￿ECc THE BOW FOODBWIK LIM￿ED 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 ur￿￿triC 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 Unrgstricl￿l 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 exr￿n￿ltUrtt 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-CBF738￿ECc 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 DOC￿￿jn Envelope ID.. 31FEE82C*584487C￿2tsA￿F?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 ￿ntir￿e0) Total fijhds 2Q23 F¢)Jdbank 2023 Adyir 2023 Staff costs 97,615 97,615 Food PurGha$è& Oonaled Food Premises Le9al & 8en•fits AdvKe Freelar￿T5 305.041 177,561 305,041 177,561 4,2QQ 30.299 8,610 1.699 3,744 30299 8.610 1.699 3.144 RecnJÈtment Accountancy. FinaKe & HR Fees Printing & Office WAb8itè & IT Transacts"on Fee5 Transport & wa￿hOUS1￿g Costs Subs¢ripb"ons Small Equipment Svrtdfies Cleaning Insurance Non*P8yroll ￿tated staff costs Volunteer & Donor E.vents Non-Fs)od Suppfies Comms & Marketin9 l%v&mance costs 2.334 26,004 9U 1.816 1.816 3.773 1.241 1.241 1.913 1.913 176 773 176 Total 2023 638,801 30,299 669,100 Indepwth examinèrfs rèn￿nerat￿)n 2024 2023 Fees Paydble to the.rharitys ]r￿ependen1 examirw for the independent examination of the ¢haritY5 annual acownts Fees pardble to the Charitys independent exarnww n respe¢l ¢fr. All taxation advi50ry seFviGe5 not in¢Jud8d ab hll other wices not indurjed above 3.180 3,000 300 3.288 Doujsvjn En¥*)￿10. 31FEE82C4s84487C426￿BFT3es3OECC THE BOW FOOOBANK L￿1T£0 IA company1Smlted byguarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Staff costs 2024 Wages artd sal*ies Soa31 wurty ￿)sts Conlribution to defin•de(ffiteitrNJtioTrynsron Schemas 132.121 7.985 2.919 4.77 2.753 143.025 The aver￿ numb'er of pa￿)n$ 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 rec*ived ￿1r￿￿ra1V)ll atrw)unting to more than£60.fyJO in ether year. Key managernenl is reFwenled by the chariWs 2 CEOS. Total key managern•nt remuner*ton for th year amounled lo £72.144 (2023: £41,962 for one CEO). Trustees'"remuneration andexyenses During th8 year. no Tru￿ÈeS 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-c8F73￿CECc 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-CBF738￿ECc THE BOW FOODBANK LIAl￿ED (A Company Ilmit•d by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2024 T5. CrerJitoTS.' Amtyjnts I￿ling wilhirrone 2024 2023 frnde C￿dItOrS 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". 31FEE82G6584487c426AiBFT3B￿ÉCc 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 A￿1[ 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¥dO￿l0.. 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 FiSh￿onger$ Garffeld Weston 120.3171 139.9151 {15,SryII 1119.1931 Rausing National Lottery C0mmL￿1ty Fund Avivia SNG Kenvue 21915 2.02 33.955 10.000 IH$nniNJ -.Napi%ès Toibts P8ns¥)ner Atd- East End Comnyunty Period Producis Stsff Wages Uplin Fund Volunteer Management Buikling Costs- Beatrice TnJ8t eullding Costs- SJP 1..750 10.CKJO 10.(100 5.297 33,720 2.500 .621) 129 10,1)J 10,00 13.4431 16.865) 11.500) 26, 2.500 13241 2,176 78.415 241.CK)6 1208,678) 110,743 TO￿ RestrtEted fur•J5 117246 344.506 1346,2071 To l of funds 553.733 887.257 1894,2641 546.726 Reslrfthd Funds - Food - TI￿e sources L5f inc4)me rèpresent funding for tho provision o Rè¥triet•d Funds . Non4ood . The¥e swrces ol irKorne Tepfesent fvThYing restrl¢tèrl for non.fots items, sud) as ￿j￿dIng maintenance. salaries. admin costs and thè provisK)n Df non-fooij iiems such nawes w sanitwy'items. P4¢ 3> Dow5wn Envelope ID.. 31FEE82C4584487C-826A4>F730630ECC THE BOW FOODBANK LJMITED IA company limited by guaTant•el NOTES TO THE FINANC.IAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement offvnds Icorytinuedl Stslement of.funds-priw)par Balanceiat 31 Mar¢h 2023 Balanr* at 1 April 2022 Inc￿￿ FXpendrt￿e Unrèstricted fvnds General Funds 352.740 534.129 149).3821 436,487 d fvnd5- Foc Baby Fomiula-SThon Ha￿15 Barbican GiMn9 Belron Ronn￿ LLther Charifable Fovndalpjn Cost of Living C(rnvnily Fund Drox I￿￿1[13Y Food) East er￿ Community Granl Pet Food . PAAWS Belvedere Trust Fishmongers H￿￿1$Y Cettic FC Rotary Club London ComTnunity R*spy)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-826A￿F730630ECc THE BOW FOODBANK L￿rtED 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 G8rf*ld 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 coMn￿r￿ty Pericd Produds Starf Wages u￿1ft Fund Volunteer Management B"uifding Costs- Bèalrice L￿g 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 DDcu*n 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 Anal￿1$ 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 Cul￿t 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?¢0￿cl￿allon of net Ir￿M￿nI ￿ knds to n8t c*h Ik)w frL¥n opernting acbyities 2Q24 2023 Net incornejexpenditure for the p8fiC#J (as per Ststèmert of ￿m￿al ActMlie4 17.ODn 139.573 Ad"ustments lor. Depreuation charges OTvidend5. interests and rents [n¥estrn￿ts Decre8sel(increasel in slocks Oecreasel{InC￿a￿ 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. 31FÈE82C*58W7C-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 0f￿h9nd cashe9ulvaknts 2023 Cash at bank haThJ 501,539 505.114 T￿81 cash and cash u1val¥￿ts 501.539 505,114 20. Anafysis of t*anges"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