THANET FOOD LINK LIMITED (A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Charity Registration No. 1166696 Registered Company Number: 08503050 (England and Wales)
THANET FOOD LINK LIMITED (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Chairman’s report | 2 |
| Trustees’ Annual Report | 3 - 5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 – 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 15 |
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS
| Trustees | D J Ellisdon - Chairman |
|---|---|
| P L S Ellisdon | |
| J M Gration | |
| G Linsell | |
| E Weitzel | |
| J E Wickenden | |
| Registered Charity Number | 1166696 |
| Registered Company Number | 08503050 |
| Key Management Personnel | The Trustees |
| Registered Office | 54 Bromstone Road |
| Broadstairs | |
| Kent | |
| CT10 2HT | |
| Principal Office | Unit 3C |
| Westwood Business Park | |
| Strasbourg Street | |
| Margate | |
| Kent | |
| CT9 4JJ | |
| Independent Examiner | M Wilkes FCA |
| Azets Audit Services | |
| Delandale House | |
| 37 Old Dover Road | |
| Canterbury | |
| Kent | |
| CT1 3JF | |
| Bankers | HSBC |
| 26 Westwood Cross Shopping Centre | |
| Margate Road | |
| Broadstairs | |
| Kent | |
| CT10 2BF |
Page 1
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The aim of the Charity has always been to support those in such poverty that they cannot afford to feed themselves and their families.
The Covid 19 pandemic continued to significantly impact the Charity throughout the year in question as, despite the rolling out of an extensive vaccination programme, national social restrictions continued to apply from time to time and with some businesses being unable to reopen, job security was uncertain for many. Russia’s war against Ukraine which commenced in February 2022 is also having an effect globally on the cost of the necessities of life, the full impact of which has yet to unfold. Energy prices have risen significantly as a result of both these pressures. As always the impact is most keenly felt by those on the lowest incomes so demand for food parcels remains high. Thankfully the public and local organisations have continued to step up and give generously so that every need has been met.
Our first part time employee, Coordinator Paul Wells, moved on to a new job in August 2021. We were delighted to appoint his replacement Heather Weitzel from November 2021. We also took the decision to give a small contribution each week to the coordinator of the St Peters distribution centre who is a self employed community worker in that area. Financial giving has covered the wages and also the costs of the warehouse. Whatever we have needed to spend, the bank balance has fluctuated very little during the year.
In 2021 we decided to digitise the process of registering to obtain food parcels (instead of using paper vouchers and records) which involved the creation of a dedicated database and the purchase of 3 laptops for volunteers to use when booking in applicants. The new system is working really well thanks to Emily Weitzel who organised it and to Sea Dragon IT services who designed and are maintaining it.
We are extremely grateful to St Paul’s Church who continue to allow us to use their building. With the church reopening for public worship, one of their rooms has been taken over for the storage of food parcels for which an agreed rental of £10 per week is being paid.
Jon Overin retired from the Board on June 2021 and Kate Grant resigned as director in October 2021 to focus on her role in the community. Gordon LInsell joined us as a director in April 2022. We are very grateful for the invaluable input of all directors past and present to Thanet Food Link.
We applaud our dedicated volunteers who have stepped up to meet every challenge in the sorting, packing and distribution of food parcels and now shopping; the biggest current problem is the need for volunteers to shop in order to keep the warehouse well stocked, financial giving having overtaken the donation of food items to a large extent.
We are Food Link - simply providing a link to pass food on from those who have enough food to those in Thanet who find themselves without. The pandemic, the war in Europe and the energy crisis have caused a level of need and insecurity we could not have foreseen. We are reminded in our daily dealings with those in need of the lifeline we have become to many in Thanet.
D J Ellisdon
Date: 26 September 2022
Page 2
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014, as amended by bulletin 1.
OBJECTIVES AND ACTIVITIES
Objectives
The charity's objective is primarily to provide relief for the public benefit of poverty, hardship and distress through the provision of food parcels, toiletries and other essentials to people in crises. The charity relies on voluntary help.
Strategies for achieving objectives
The charity has strong links with the local community and works with over 15 local agencies to ensure that the food parcels reach the intended beneficiaries.
Activities for achieving objectives
The charity works in partnership with other organisations in the Thanet area to identify those in need. The organisations then signpost those in need to the Charity's distribution points.
Main activities undertaken to further the charity's purposes for the public benefit
All of the activities provided by the charity are for the benefit of the public with food parcels, toiletries and other essentials provided to anyone in need.
ACHIEVEMENTS AND PERFORMANCE
Review of activities
Working within the Thanet area, 8,000 people received food parcels, representing over 80,000 meals in one year. Demand for food parcels remains high due to the ongoing Covid 19 pandemic, the war in Europe and the energy crisis.
FINANCIAL REVIEW
The accounts to 31 March 2022 show a deficit for the year of £13,715 (2021: Surplus of £51,550). Of the total income of £108,589 (2021: £155,983), £77,009 (2021: £78,560) represents the value of donated food. Expenditure for the year was £122,304 (2021: £104,433).
Reserves policy
As the charity distributes donated food and food bought from donations, the trustees do not consider it necessary to hold significant reserves.
The charity has continued with the short term lease of a warehouse. Fundraising to cover the cost has been successful and with increased regular giving from churches and individuals, sufficient funds are in place to cover most of the lease obligation to the current lease end date on June 2023.
The Trustees have a target of reserves of £7,500 (2021 : £6,000) to cover 6 months rental of the warehouse and 6 months payment of wages. Total unrestricted reserves at 31 March 2022 were £59,534 (2021 : £72,965). Total restricted funds are £nil (2021 - £284). These reserves will be used to purchase food parcels to meet demand in future periods.
Page 3
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
During the 2021/22 year, the demand created by the Covid 19 pandemic and the war in Europe only increased the generosity of donors seeking to help those in need. Therefore the directors do not consider that either will affect the charity’s ability to continue as a going concern.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
The Trustees consider the following to be the principal risks that the charity faces:
-
Lack of donations of food or funds to meet demand
-
Loss of and failure to replace volunteers
-
Loss of and failure to replace trustee directors
FUTURE PLANS
The immediate need is to continue to generate enough donation of food and finances to meet the high demand for food parcels due to the pandemic, the war and the energy crisis. Any future developments would be in response to demand. This may include appointment of more staff.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure
Thanet Food Link Limited is a company limited by guarantee governed by its Memorandum and Articles of Association adopted 1 April 2019 (the original Memorandum and Articles of Association dated 24 March 2013 were replaced to reflect the change from a CIC to a charitable company).
Governance and Management
In accordance with the governing document, there shall be not less than 3 Trustees at any time. Trustees are appointed by a resolution of the trustees at a general meeting. They are chosen with regards to the skills, knowledge and experience needed for the effective administration of the charity. If a trustee is deemed appropriate and willing to make the required commitment then they are proposed to the committee.
New Trustees are given training by the Trustees as necessary.
The Trustees who served during the year were as follows:
-
D J Ellisdon (Chairman)
-
P L S Ellisdon
-
K Grant (Resigned 7 October 2021)
-
J M Gration
-
G Linsell (Appointed 26 April 2022)
-
J C Overin (resigned 30 June 2021)
-
E Weitzel
-
J E Wickenden
Page 4
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2022
STATEMENT OF TRUSTEE’S RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Trustees, on 26[th] September 2022 and signed on their behalf by:
Mrs D J Ellisdon Chairman
Page 5
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 7 to 15.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
M A Wilkes (FCA)
For and on behalf of Azets Audit Services Delandale House, 37 Old Dover Road Canterbury, Kent CT1 3JF
Date: 10 October 2022
Page 6
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVIES FOR THE YEAR ENDED 31 MARCH 2022
| Notes Income from: Donations 2 Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Fund balances at 1 April 2021 Fund balances at 31 March 2022 |
Unrestricted fund 2022 £ 108,189 400 108,589 122,020 122,020 (13,431) 72,965 59,534 |
Restricted funds 2022 £ - - - 284 284 (284) 284 - |
Total 2022 £ 108,189 400 108,589 122,304 122,304 (13,715) 73,249 59,534 |
Total 2021 £ 133,549 22,434 155,983 104,433 104,433 51,550 21,699 73,249 |
|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Page 7
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
COMPARATIVE STATEMENT OF FINANCIAL ACTIVIES
FOR THE YEAR ENDED 31 MARCH 2021
| Notes Income from: Donations 2 Charitable activities Total income Expenditure on: Charitable activities 4 Total expenditure Net income Transfers between funds Net movement in funds Fund balances at 1 April 2020 Fund balances at 31 March 2021 |
Unrestricted fund 2021 £ 131,677 500 132,177 83,935 83,935 48,242 3,024 51,266 21,699 72,965 |
Restricted funds 2021 £ 1,872 21,934 23,806 20,498 20,498 3,308 (3,024) 284 - 284 |
Total 2021 £ 133,549 22,434 155,983 104,433 104,433 51,550 - 51,550 21,699 73,249 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Page 8
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
BALANCE SHEET
AS AT 31 MARCH 2022
| Registered company number: 08503050 Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Income funds Unrestricted funds Restricted funds 12 13 |
£ 3,669 53,138 56,807 (954) |
2022 £ 3,681 3,681 55,853 59,534 59,534 - 59,534 |
£ 8,183 60,998 69,181 (900) |
2021 £ 4,968 4,968 68,281 73,249 72,965 284 73,249 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
The Trusees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trusees on 26 September 2022 and signed on their behalf by:
Trustee
D J Ellisdon Trustee
J E Wickenden
Page 9
THANET FOOD LINK LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies
a. Charity information
Thanet Food Link Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 54 Bromstone Road, Broadstairs, England, CT10 2HT.
b. Basis of preparation of financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015 updated for bulletin 1.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
c. Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Food goods donated to the charity have been measured by weight giving a monetary fair value which has been included within the accounts at the time of distribution. Food donated and held as stock for distribution by the charity is recognised as income when distributed.
d. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
e. Support costs allocation
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
f. Funds accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 10
THANET FOOD LINK LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
g. Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. All assets costing more than £500 are capitalised.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives as follows:
Fixtures and fittings - 20% on cost Computer equipment - 33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
h. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment are recognised in expenditure.
i. Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
j. Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are discussed below.
Value of donated food
Donated food is valued at fair value at the time that food is distributed. Fair value is estimated at 60% of the retail value of a standard food parcel.
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually and are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Page 11
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
| 2. Donations Donations - cash Donations - food Gift aid Food donations Weight of food distributed (7kg) Value of food distributed - £1.75 (2021 - £1.47) Less: cost of food purchased Value of donated food Donated food has been valued at 60% of retail value 3. Charitable activities Grants: Kent County Council Kent Community Foundation Town Mayors Memorial CT10 Charities Charter Trustees 4. Expenditure Staff costs £ Charitable activity: Provision of food parcels 7,465 |
Unrestricted Restricted funds funds Total 2022 2022 2022 £ £ £ 27,931 - 27,931 77,009 - 77,009 3,249 - 3,249 108,189 - 108,189 2022 2022 2021 no. kg no. 8,000 56,000 8,435 £ 98,000 (20,991) 77,009 at £1.75 per kg (2021: 60% - £1.47). Unrestricted Restricted funds funds Total 2022 2022 2022 £ £ £ - - - - - - 400 - 400 - - - - - - 400 - 400 Other direct Support Total costs costs 2022 £ £ £ 106,796 8,043 122,304 |
Total 2021 £ 50,189 78,580 4,780 133,549 2021 kg 59,045 £ 86,543 (7,963) 78,580 Total 2021 £ 4,320 16,114 - 1,500 500 22,434 Total 2021 £ 104,433 |
|---|---|---|
Page 12
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| 5. Support costs Office costs Computer costs Website, database and rebranding Sundries Legal and professional Fundraising costs Donations Depreciation Governance costs: Independent examination 6. Staff costs Wages and salaries |
2022 £ 247 1,480 2,436 403 234 306 696 1,287 954 8,043 2022 £ 7,465 |
2021 £ 690 168 2,040 113 - 90 1,250 659 990 6,000 2021 £ 3,904 |
|---|---|---|
The average number of employees, by headcount, for direct charitable activities was 1 (2021 - 1).
There were no employees whose annual remuneration was £60,000 or more.
The total amount of employee benefits received by Key Management Personnel was £nil (2021: £nil). The charity considers its Key Management Personnel to be those as set out on page 1.
7. Trustees
The Trustees did not receive any remuneration, benefits. In the year the Trustees received reimbursement of food purchases for distribution within food parcels of £15,571 (2021 - £5,834).
| 8. Tangible fixed assets Cost At 1 April 2021 At 31 March 2022 Depreciation At 1 April 2021 Depreciation charged in the year At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 |
Fixtures & Fittings £ 7,303 7,303 2,394 1,228 3,622 3,681 4,909 |
Computer equipment £ 349 349 290 59 349 - 59 |
Total £ 7,652 7,652 2,684 1,287 3,971 3,681 4,968 |
|---|---|---|---|
Page 13
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
| 9. Debtors Other debtors Prepayments 10. Creditors: amounts falling due within one year Accruals and deferred income |
2022 £ 3,561 108 3,669 2022 £ 954 954 |
2021 £ 8,076 107 8,183 2021 £ 900 900 |
|---|---|---|
11. Leasing Agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years 12. Restricted funds CURRENT YEAR Restricted funds Food and food storage fund PRIOR YEAR Restricted funds Warehouse Rents Fund Food and Food Storage Fund Wages fund |
Balance at 01 Apr 21 £ 284 284 Balance at 01 Apr 20 £ - - - - |
Income £ - - Income £ 4,320 15,196 4,290 23,806 |
Expenditure £ (284) (284) Expenditure £ (4,320) (11,888) (4,290) (20,498) |
2022 £ 3,840 960 4,800 Transfers £ - - Transfers £ - (3,024) - (3,024) |
2021 £ 3,840 4,800 8,640 Balance at 31 Mar 22 £ - - Balance at 31 Mar 21 £ - 284 - 284 |
|---|---|---|---|---|---|
Warehouse Rents Fund
Grant received to be used on the rent and services charge for the warehouse.
Food and Food Storage Fund
Grants received to be spent on items for the storage of food and also on food for the food parcels.
Wages fund
Grants received towards the salary and mileage costs for the co-ordinator.
Page 14
THANET FOOD LINK LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
| 13. Analysis of net assets between funds Current year Tangible assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Prior year Tangible assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year |
Restricted funds £ - - - - - Restricted funds £ - - 284 - 284 |
Unrestricted funds £ 3,681 3,669 53,138 (954) 59,534 Unrestricted funds £ 4,968 8,183 60,714 (900) 72,965 |
Total 31 Mar 22 £ 3,681 3,669 53,138 (954) 59,534 Total 31 Mar 21 £ 4,968 8,183 60,998 (900) 73,249 |
|---|---|---|---|
14. Related party transactions
H Weitzel, mother of E Weitzel, a trustee, is employed by the charity as a Coordinator. During the year she was paid £3,137 (2021: £nil). H Weitzel's appointment was made in open competition and E Weitzel was not involved in the decision-making process regarding appointment.
15. Company limited by guarantee
The charity is limited by guarantee and accordingly has no share capital.
The liability guaranteed by each member is £10. The authorised membership of the company is unlimited. At 31 March 2022 the membership was 7 (2021 - 7)
Page 15