Trustees’ Annual Report for the period
From 01/01/22 Period start date To 31/12/22 Period end date
Charity name: BRIDGWATER FOODBANK
Charity registration number:1170515
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To provide emergency food parcels and other items to those in the Bridgwater area who are in need |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The collection of food from local donation points, logging the weight, sorting it into “use by” dates, storing it on shelving, and making up food parcels for those clients who arrive at the foodbank with a voucher from a recognised agency (emailed prior to arrival) |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees are aware of the guidance issued, and adhere to the specified procedures |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference |
||
|---|---|---|
| Policy on grant making | Para 1.38 | n/a |
| Policy on social investment including program related investment |
Para 1.38 | n/a |
| Contribution made by volunteers |
Para 1.38 | The foodbank is entirely staffed by volunteers. Even the Manager, who would be entitled to remuneration, currently gives his services free of charge |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The foodbank continues to supply food and personal hygiene items and cleaning products to local people in need. Between March and September 2022 more than 2,677 individuals received food from the Foodbank. During the same period, 19.9 tonnes of food was received via donations, and 22.4 tonnes was distributed. Work was also undertaken to construct a new warehouse to store stocks of food and other donated items. This work is set to be completed in 2023. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | n/a |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | n/a |
| Investment performance against objectives |
Para 1.41 | n/a |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | We try to hold reserves of two years operating costs |
| Amount of reserves held | Para 1.22 | |
| Reasons for holding zero reserves |
Para 1.22 | n/a |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
Car park fees £7,162 Donations £82,352 As at end of financial year 30/11/20 |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | We keep 6 months costs in current a/c and the rest in a 95 day deposit a/c |
| A description of the principal risks facing the charity |
Para 1.46 | The major risk is that we lose income from the car park or that donations will be reduced |
| Other | n/a |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust. Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | There are 13 trustees of whom 3 are independent, the remainder being drawn from volunteers and the Manager and Chair being Ex-officio. The normal period of office is 3 years; Nominations received at AGM are then voted on. |
Additional information (optional)
| Additional information (optional) | Additional information (optional) | Additional information (optional) |
|---|---|---|
| You may choose to include further statements where relevant about: | ||
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | All new trustees (and volunteers) are required to sign up to the Constitution and various policies, including safeguarding. |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The Manager co-ordinates the work of the volunteers. We also liaise regularly with other local charities and referring agencies as well as Social Services. |
| Relationship with any related parties |
Para 1.51 | The trust works closely with a team of local counsellors, to try to provide longer-term or permanent solutions to clients’ problems |
| Other | The Bridgwater Foodbank works within the umbrella of the Trussell Trust |
Reference and Administrative details
| Charity name | Bridgwater Foodbank |
|---|---|
| Other name the charity uses | None |
| Registered charity number | 1170515 |
| Charity’s principal address | Mount Street Bridgwater Somerset TA6 3ER |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
|---|---|---|---|
| PhilipJarman | Manager | ||
| Dora Hinkley | Chair of the Trust | ||
| Robin Kinahan | Treasurer of the Trust | ||
| Ann Barnard | Volunteer | ||
| Mollie Fooks-Bale | Volunteer | ||
| Judith Brown | Volunteer | ||
| Alan Cable | Independent | ||
| Lance Duddridge | Volunteer | ||
| Liz Turner | Volunteer | ||
| Rev Will Lane | Independent | ||
| Clare Adams | Volunteer | ||
| Margot Taylor | Volunteer | ||
| Sue Golden | Volunteer | ||
– Corporate trustees names of the directors at the date the report was approved Director name
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| The whole body of trustees listed above jointly hold the title to the property from which foodbank operates, following purchase of the property from Somerset County Council in 2018 |
||
Funds held as custodian trustees on behalf of others
Description of the assets n/a held in this capacity Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information) Type of adviser Name Accountant Ben Cleavely Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) JH Ballard Full name(s) Judith Ballard
Position (eg Secretary, Chair, etc) Secretary to the Trustees
Date 28/02/23
REGISTERED CHARITY NUMBER: 1170515
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
Bridgwater Foodbank
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Bridgwater Foodbank
Contents of the Financial Statements for the Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Bridgwater Foodbank
Report of the Trustees for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity exists for the public benefit, to provide emergency food parcels and other items to those in need in the Bridgwater area.
The collection of food and other items from local donation points, logging the weight, sorting into 'use by' dates, storing it on shelving and making up food parcels for those clients who arrive at the foodbank with a voucher from a recognised agency (emailed prior to arrival).
The trustees are aware of the guidance issued and adhere to the specific procedure.
The foodbank is entirely staffed by volunteers. Even the manager, who would be entitled to remuneration gives his services for free.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The foodbank continues to supply food and personal hygiene items and cleaning products to local people in need. Between March and September 2022 more than 2,677 individuals received food from the Foodbank. During the same period, 19.9 tonnes of food was received via donations, and 22.4 tonnes was distributed.
Work was also undertaken to construct a new warehouse to store stocks of food and other donated items. This work is set to be completed in 2023.
FINANCIAL REVIEW
Financial position
A surplus of £52,981 was achieved in the financial year ended 31 December 2022 (2021 - £90,266) and total of unrestricted funds of £248,859 (2021 - £195,968) were retained.
During the financial year ended 31 December 2022, Donations were received of £55,174, grant income received of £5,000 from the Trussell trust and carpark income received of £7,637.
Reserves policy
We aim to hold reserves of two years' operating costs. We keep 6 months costs in the current account and the balance in a 35-day deposit account.
The major risk is that we lose income from the car park or that donations are reduced.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
Bridgwater Foodbank
for the Year Ended 31 December 2022
Report of the Trustees
The organisation is registered as a Charitable Incorporated Organisation (CIO), registered on 1 December 2016 Charity number 1170515 and operates from Mount Street, Bridgwater, Somerset, TA6 3ER.
We have 13 trustees of whom 3 are independent, the remainder being drawn from volunteers and the manager and Chair being Ex-officio. The normal period of office is 3 years; Nominations received at AGM are then voted on. All new trustees (and volunteers) are required to sign up to the Constitution and various policies, including safeguarding.
The manager co-ordinates the work of the volunteers. We liaise regularly with other local charities and referring agencies including Social Services.
The Bridgwater Foodbank work within the umbrella of the Trussell Trust.
The trust works closely with a team of counsellors, to try and provide longer-term or permanent solutions to client's problems.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1170515
Principal address
Mount Street Day Centre Mount Street Bridgwater Somerset TA6 3ER
Trustees
R D Kinahan Trustee P H Jarman Trustee Mrs D Hinkley Trustee Ms K E Turner Trustee (appointed 15.3.22) Ms C Adams Trustee Ms S Golden Trustee Ms M Taylor Trustee Rev W H H Lane Trustee L J Duddridge Trustee Ms J A Brown Trustee Mrs M Fooks-Bale Trustee A Cable Trustee Ms B A Barnard Trustee J Cran Trustee (resigned 1.2.22) Ms H Strawbridge Trustee (resigned 1.2.22)
Independent Examiner
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ R D Kinahan - Trustee
Page 2
Independent Examiner's Report to the Trustees of Bridgwater Foodbank
Independent examiner's report to the trustees of Bridgwater Foodbank
I report to the charity trustees on my examination of the accounts of Bridgwater Foodbank (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Gavin Roberts ACA FCCA Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Date: .............................................
Page 3
Bridgwater Foodbank
Statement of Financial Activities for the Year Ended 31 December 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,811 Investment income 2 408 Total 68,219 EXPENDITURE ON Charitable activities Distribution of food parcels 15,328 NET INCOME 52,891 RECONCILIATION OF FUNDS Total funds brought forward 195,968 TOTAL FUNDS CARRIED FORWARD 248,859 |
Restricted fund £ - - - - - 150,000 150,000 |
31.12.22 31.12.21 Total Total funds funds £ £ 67,811 115,858 408 146 68,219 116,004 15,328 25,738 52,891 90,266 345,968 255,702 398,859 345,968 |
|---|---|---|
The notes form part of these financial statements
Page 4
Bridgwater Foodbank
Balance Sheet 31 December 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 131,073 CURRENT ASSETS Debtors 6 601 Cash at bank and in hand 119,099 119,700 CREDITORS Amounts falling due within one year 7 (1,914) NET CURRENT ASSETS 117,786 TOTAL ASSETS LESS CURRENT LIABILITIES 248,859 NET ASSETS 248,859 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 150,000 - - - - - 150,000 150,000 |
31.12.22 Total funds £ 281,073 601 119,099 119,700 (1,914) 117,786 398,859 398,859 248,859 150,000 398,859 |
31.12.21 Total funds £ 161,074 279 184,735 185,014 (120) 184,894 345,968 345,968 195,968 150,000 345,968 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R D Kinahan - Trustee
The notes form part of these financial statements
Page 5
Bridgwater Foodbank
Notes to the Financial Statements for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Motor vehicles - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 6
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Deposit account interest | 408 | 146 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 115,858 Investment income 146 Total 116,004 EXPENDITURE ON Charitable activities Distribution of food parcels 25,738 NET INCOME 90,266 RECONCILIATION OF FUNDS Total funds brought forward 105,702 TOTAL FUNDS CARRIED FORWARD 195,968 |
Restricted fund £ - - - - - 150,000 150,000 |
Total funds £ 115,858 146 116,004 25,738 90,266 255,702 345,968 |
|---|---|---|
continued...
Page 7
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
5. TANGIBLE FIXED ASSETS
| Improvements Freehold to Plant and property property machinery £ £ £ COST At 1 January 2022 150,000 - - Additions - 122,420 464 At 31 December 2022 150,000 122,420 464 DEPRECIATION At 1 January 2022 - - - Charge for year - - 116 At 31 December 2022 - - 116 NET BOOK VALUE At 31 December 2022 150,000 122,420 348 At 31 December 2021 150,000 - - 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 8. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 195,968 Restricted funds Property 150,000 TOTAL FUNDS 345,968 |
Motor vehicles £ 14,765 - 14,765 3,691 2,769 6,460 8,305 11,074 31.12.22 £ 601 31.12.22 £ 1,344 570 1,914 Net movement in funds £ 52,891 - 52,891 |
Totals £ 164,765 122,884 287,649 3,691 2,885 6,576 281,073 161,074 31.12.21 £ 279 31.12.21 £ - 120 120 At 31.12.22 £ 248,859 150,000 398,859 |
|---|---|---|
continued...
Page 8
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 68,219 TOTAL FUNDS 68,219 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 105,702 Restricted funds Property 150,000 TOTAL FUNDS 255,702 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 116,004 TOTAL FUNDS 116,004 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.21 £ Unrestricted funds General fund 105,702 Restricted funds Property 150,000 TOTAL FUNDS 255,702 |
Resources Movement expended in funds £ £ (15,328) 52,891 (15,328) 52,891 Net movement At in funds 31.12.21 £ £ 90,266 195,968 - 150,000 90,266 345,968 Resources Movement expended in funds £ £ (25,738) 90,266 (25,738) 90,266 Net movement At in funds 31.12.22 £ £ 143,157 248,859 - 150,000 143,157 398,859 |
|---|---|
continued...
Page 9
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 184,223 | (41,066) | 143,157 |
| TOTAL FUNDS | 184,223 | (41,066) | 143,157 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 10
Bridgwater Foodbank
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Detailed Statement of Financial Activities for the Year Ended 31 December 2022 |
||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 43,153 | 65,045 |
| Gift aid | 1,436 | - |
| Grants | 5,000 | 8,952 |
| Car Park | 7,637 | 9,310 |
| Settlement of road access | - | 21,194 |
| Standing orders | 10,585 | 11,357 |
| Investment income | 67,811 | 115,858 |
| Deposit account interest | 408 | 146 |
| Total incoming resources | 68,219 | 116,004 |
| EXPENDITURE | ||
| Charitable activities | ||
| Storage | 3,279 | 3,354 |
| Rates and water | 167 | 177 |
| Gas & Electricity | 1,421 | 1,869 |
| Telephone | 1,217 | 1,573 |
| Sundries | 277 | 35 |
| Food purchases | 273 | 7 |
| Premises | 473 | 6,911 |
| Repairs and maintenance | 1,588 | 4,750 |
| Publicity and printing | 266 | 896 |
| Professional fees | - | 108 |
| Van expenses | 2,216 | 1,499 |
| Support costs | 11,177 | 21,179 |
| Management | ||
| Insurance | 696 | 748 |
| Finance | ||
| Depreciation of tangible fixed assets | 2,885 | 3,691 |
| Governance costs | ||
| Accountancy and legal fees | 570 | 120 |
| Total resources expended | 15,328 | 25,738 |
| Net income | 52,891 | 90,266 |
This page does not form part of the statutory financial statements
Page 11
REGISTERED CHARITY NUMBER: 1170515
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
Bridgwater Foodbank
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Bridgwater Foodbank
Contents of the Financial Statements for the Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Bridgwater Foodbank
Report of the Trustees for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity exists for the public benefit, to provide emergency food parcels and other items to those in need in the Bridgwater area.
The collection of food and other items from local donation points, logging the weight, sorting into 'use by' dates, storing it on shelving and making up food parcels for those clients who arrive at the foodbank with a voucher from a recognised agency (emailed prior to arrival).
The trustees are aware of the guidance issued and adhere to the specific procedure.
The foodbank is entirely staffed by volunteers. Even the manager, who would be entitled to remuneration gives his services for free.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The foodbank continues to supply food and personal hygiene items and cleaning products to local people in need. Between March and September 2022 more than 2,677 individuals received food from the Foodbank. During the same period, 19.9 tonnes of food was received via donations, and 22.4 tonnes was distributed.
Work was also undertaken to construct a new warehouse to store stocks of food and other donated items. This work is set to be completed in 2023.
FINANCIAL REVIEW
Financial position
A surplus of £52,981 was achieved in the financial year ended 31 December 2022 (2021 - £90,266) and total of unrestricted funds of £248,859 (2021 - £195,968) were retained.
During the financial year ended 31 December 2022, Donations were received of £55,174, grant income received of £5,000 from the Trussell trust and carpark income received of £7,637.
Reserves policy
We aim to hold reserves of two years' operating costs. We keep 6 months costs in the current account and the balance in a 35-day deposit account.
The major risk is that we lose income from the car park or that donations are reduced.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
Bridgwater Foodbank
for the Year Ended 31 December 2022
Report of the Trustees
The organisation is registered as a Charitable Incorporated Organisation (CIO), registered on 1 December 2016 Charity number 1170515 and operates from Mount Street, Bridgwater, Somerset, TA6 3ER.
We have 13 trustees of whom 3 are independent, the remainder being drawn from volunteers and the manager and Chair being Ex-officio. The normal period of office is 3 years; Nominations received at AGM are then voted on. All new trustees (and volunteers) are required to sign up to the Constitution and various policies, including safeguarding.
The manager co-ordinates the work of the volunteers. We liaise regularly with other local charities and referring agencies including Social Services.
The Bridgwater Foodbank work within the umbrella of the Trussell Trust.
The trust works closely with a team of counsellors, to try and provide longer-term or permanent solutions to client's problems.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1170515
Principal address
Mount Street Day Centre Mount Street Bridgwater Somerset TA6 3ER
Trustees
R D Kinahan Trustee P H Jarman Trustee Mrs D Hinkley Trustee Ms K E Turner Trustee (appointed 15.3.22) Ms C Adams Trustee Ms S Golden Trustee Ms M Taylor Trustee Rev W H H Lane Trustee L J Duddridge Trustee Ms J A Brown Trustee Mrs M Fooks-Bale Trustee A Cable Trustee Ms B A Barnard Trustee J Cran Trustee (resigned 1.2.22) Ms H Strawbridge Trustee (resigned 1.2.22)
Independent Examiner
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ R D Kinahan - Trustee
Page 2
Independent Examiner's Report to the Trustees of Bridgwater Foodbank
Independent examiner's report to the trustees of Bridgwater Foodbank
I report to the charity trustees on my examination of the accounts of Bridgwater Foodbank (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Gavin Roberts ACA FCCA Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Date: .............................................
Page 3
Bridgwater Foodbank
Statement of Financial Activities for the Year Ended 31 December 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,811 Investment income 2 408 Total 68,219 EXPENDITURE ON Charitable activities Distribution of food parcels 15,328 NET INCOME 52,891 RECONCILIATION OF FUNDS Total funds brought forward 195,968 TOTAL FUNDS CARRIED FORWARD 248,859 |
Restricted fund £ - - - - - 150,000 150,000 |
31.12.22 31.12.21 Total Total funds funds £ £ 67,811 115,858 408 146 68,219 116,004 15,328 25,738 52,891 90,266 345,968 255,702 398,859 345,968 |
|---|---|---|
The notes form part of these financial statements
Page 4
Bridgwater Foodbank
Balance Sheet 31 December 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 131,073 CURRENT ASSETS Debtors 6 601 Cash at bank and in hand 119,099 119,700 CREDITORS Amounts falling due within one year 7 (1,914) NET CURRENT ASSETS 117,786 TOTAL ASSETS LESS CURRENT LIABILITIES 248,859 NET ASSETS 248,859 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 150,000 - - - - - 150,000 150,000 |
31.12.22 Total funds £ 281,073 601 119,099 119,700 (1,914) 117,786 398,859 398,859 248,859 150,000 398,859 |
31.12.21 Total funds £ 161,074 279 184,735 185,014 (120) 184,894 345,968 345,968 195,968 150,000 345,968 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R D Kinahan - Trustee
The notes form part of these financial statements
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Bridgwater Foodbank
Notes to the Financial Statements for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Motor vehicles - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Deposit account interest | 408 | 146 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 115,858 Investment income 146 Total 116,004 EXPENDITURE ON Charitable activities Distribution of food parcels 25,738 NET INCOME 90,266 RECONCILIATION OF FUNDS Total funds brought forward 105,702 TOTAL FUNDS CARRIED FORWARD 195,968 |
Restricted fund £ - - - - - 150,000 150,000 |
Total funds £ 115,858 146 116,004 25,738 90,266 255,702 345,968 |
|---|---|---|
continued...
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Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
5. TANGIBLE FIXED ASSETS
| Improvements Freehold to Plant and property property machinery £ £ £ COST At 1 January 2022 150,000 - - Additions - 122,420 464 At 31 December 2022 150,000 122,420 464 DEPRECIATION At 1 January 2022 - - - Charge for year - - 116 At 31 December 2022 - - 116 NET BOOK VALUE At 31 December 2022 150,000 122,420 348 At 31 December 2021 150,000 - - 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 8. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 195,968 Restricted funds Property 150,000 TOTAL FUNDS 345,968 |
Motor vehicles £ 14,765 - 14,765 3,691 2,769 6,460 8,305 11,074 31.12.22 £ 601 31.12.22 £ 1,344 570 1,914 Net movement in funds £ 52,891 - 52,891 |
Totals £ 164,765 122,884 287,649 3,691 2,885 6,576 281,073 161,074 31.12.21 £ 279 31.12.21 £ - 120 120 At 31.12.22 £ 248,859 150,000 398,859 |
|---|---|---|
continued...
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Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 68,219 TOTAL FUNDS 68,219 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 105,702 Restricted funds Property 150,000 TOTAL FUNDS 255,702 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 116,004 TOTAL FUNDS 116,004 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.21 £ Unrestricted funds General fund 105,702 Restricted funds Property 150,000 TOTAL FUNDS 255,702 |
Resources Movement expended in funds £ £ (15,328) 52,891 (15,328) 52,891 Net movement At in funds 31.12.21 £ £ 90,266 195,968 - 150,000 90,266 345,968 Resources Movement expended in funds £ £ (25,738) 90,266 (25,738) 90,266 Net movement At in funds 31.12.22 £ £ 143,157 248,859 - 150,000 143,157 398,859 |
|---|---|
continued...
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Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 184,223 | (41,066) | 143,157 |
| TOTAL FUNDS | 184,223 | (41,066) | 143,157 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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Bridgwater Foodbank
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Detailed Statement of Financial Activities for the Year Ended 31 December 2022 |
||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 43,153 | 65,045 |
| Gift aid | 1,436 | - |
| Grants | 5,000 | 8,952 |
| Car Park | 7,637 | 9,310 |
| Settlement of road access | - | 21,194 |
| Standing orders | 10,585 | 11,357 |
| Investment income | 67,811 | 115,858 |
| Deposit account interest | 408 | 146 |
| Total incoming resources | 68,219 | 116,004 |
| EXPENDITURE | ||
| Charitable activities | ||
| Storage | 3,279 | 3,354 |
| Rates and water | 167 | 177 |
| Gas & Electricity | 1,421 | 1,869 |
| Telephone | 1,217 | 1,573 |
| Sundries | 277 | 35 |
| Food purchases | 273 | 7 |
| Premises | 473 | 6,911 |
| Repairs and maintenance | 1,588 | 4,750 |
| Publicity and printing | 266 | 896 |
| Professional fees | - | 108 |
| Van expenses | 2,216 | 1,499 |
| Support costs | 11,177 | 21,179 |
| Management | ||
| Insurance | 696 | 748 |
| Finance | ||
| Depreciation of tangible fixed assets | 2,885 | 3,691 |
| Governance costs | ||
| Accountancy and legal fees | 570 | 120 |
| Total resources expended | 15,328 | 25,738 |
| Net income | 52,891 | 90,266 |
This page does not form part of the statutory financial statements
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