**REGISTERED CHARITY NUMBER: 1170515**
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2023
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 2023
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|3|
|Independent Examiner's Report||4||
|Statement of Financial Activities||5||
|Balance Sheet||6||
|Notes to the Financial Statements|7|to|12|
|Detailed Statement of Financial Activities||13||
Bridgwater Foodbank
for the Year Ended 31 December 2023
## Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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, personal hygiene items, cleaning products and when possible advice to local people in need. For all of 2023 food was supplied for 7898 vouchers for adults and 5438 for children. A total of 13,336 vouchers. During the same year 55 tons of food was recieved via donations and 53 tons distributed.
## **FINANCIAL REVIEW**
## **Financial position**
A surplus of £25,497 was achieved in the financial year ended 31 December 2023 (2022 - £52,981) and total of unrestricted funds of £198,636 (2022 - £248,859) were retained.
During the financial year ended 31 December 2023, Donations were received of £57,481, grant income received of £10,000 from Somerset Community Foundation and carpark income received of £8,618.
## **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 2023
## 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**
Jamara Barn Church Road Fiddington Bridgwater Somerset TA5 1JQ
## **Trustees**
R D Kinahan Trustee P H Jarman Trustee Mrs D Hinkley Trustee Ms K E Turner Trustee Ms C Adams Trustee Ms S Golden Trustee (resigned 28.3.23) Ms M Taylor Trustee (resigned 28.3.23) 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 Mrs M J M Moyse Trustee (appointed 28.3.23) C Wyganowski Trustee (appointed 28.3.23) D A Young Trustee (appointed 28.3.23)
## **Independent Examiner**
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Page 2
Bridgwater Foodbank
## Report of the Trustees
for the Year Ended 31 December 2023
Approved by order of the board of trustees on 1 March 2024 and signed on its behalf by:
R D Kinahan - Trustee
Page 3
## 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 2023.
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
1 March 2024
Page 4
Bridgwater Foodbank
## Statement of Financial Activities
## for the Year Ended 31 December 2023
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**76,099**
Investment income
2
**1,789**
**Total**
**77,888**
**EXPENDITURE ON**
**Charitable activities**
Distribution of food parcels
**52,391**
**NET INCOME**
**25,497**
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
**-**
**Net movement in funds**
**25,497**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**248,859**
**TOTAL FUNDS CARRIED FORWARD**
**274,356**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**(75,720)**
**(75,720)**
**150,000**
**74,280**|**31.12.23**
31.12.22
**Total**
Total
**funds**
funds
**£**
£
**76,099**
67,811
**1,789**
408
**77,888**
68,219
**52,391**
15,328
**25,497**
52,891
**(75,720)**
-
**(50,223)**
52,891
**398,859**
345,968
**348,636**
398,859|**31.12.23**
31.12.22
**Total**
Total
**funds**
funds
**£**
£
**76,099**
67,811
**1,789**
408
**77,888**
68,219
**52,391**
15,328
**25,497**
52,891
**(75,720)**
-
**(50,223)**
52,891
**398,859**
345,968
**348,636**
398,859|
|---|---|---|---|
||||68,219|
||||15,328|
||||52,891
-|
||||52,891
345,968|
||||398,859|
The notes form part of these financial statements
Page 5
Bridgwater Foodbank
## Balance Sheet
## 31 December 2023
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
5
**161,442**
**CURRENT ASSETS**
Debtors
6
**518**
Cash at bank and in hand
**112,966**
**113,484**
**CREDITORS**
Amounts falling due within one year
7
**(570)**
**NET CURRENT ASSETS**
**112,914**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**274,356**
**NET ASSETS**
**274,356**
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
**74,280**
**-**
**-**
**-**
**-**
**-**
**74,280**
**74,280**|**31.12.23**
**Total**
**funds**
**£**
**235,722**
**518**
**112,966**
**113,484**
**(570)**
**112,914**
**348,636**
**348,636**
**274,356**
**74,280**
**348,636**|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|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 1 March 2024 and were signed on its behalf by:
R D Kinahan - Trustee
The notes form part of these financial statements
Page 6
Bridgwater Foodbank
Notes to the Financial Statements for the Year Ended 31 December 2023
## **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, as modified by the revaluation of certain assets.
## **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 7
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**31.12.23**|31.12.22|
||**£**|£|
|Deposit account interest|**1,789**|408|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
67,811
Investment income
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|Total
funds
£
67,811
408|
|---|---|---|
|||68,219|
|||15,328|
|||52,891
345,968|
|||398,859|
continued...
Page 8
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **5. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 January 2023
Additions
Revaluations
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Improvements
Freehold
to
property
property
£
£
**150,000**
**122,420**
**-**
**31,484**
**(75,720)**
**-**
**74,280**
**153,904**
**-**
**-**
**-**
**-**
**-**
**-**
**74,280**
**153,904**
150,000
122,420|Plant and
machinery
£
**464**
**1,398**
**-**
**1,862**
**116**
**437**
**553**
**1,309**
348|Motor
vehicles
£
**14,765**
**-**
**-**
**14,765**
**6,460**
**2,076**
**8,536**
**6,229**
8,305|Totals
£
**287,649**
**32,882**
**(75,720)**
**244,811**
**6,576**
**2,513**
**9,089**
**235,722**
281,073|
|---|---|---|---|---|
Cost or valuation at 31 December 2023 is represented by:
|Valuation in 2023
Cost|**Improvements**
**Freehold**
**to**
**Plant and**
**property**
**property**
**machinery**
**£**
**£**
**£**
**(75,720)**
**-**
**-**
**150,000**
**153,904**
**1,862**
**74,280**
**153,904**
**1,862**|**Motor**
**vehicles**
**£**
**-**
**14,765**
**14,765**|**Totals**
**£**
**(75,720)**
**320,531**
**244,811**|
|---|---|---|---|
## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
|**31.12.23**|31.12.22|
|---|---|
|**£**|£|
|**518**|601|
continued...
Page 9
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**8.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Property
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**77,888**
**Restricted funds**
Property
**-**
**TOTAL FUNDS**
**77,888**|
At 1.1.23
£
**248,859**
**150,000**
**398,859**
Resources
expended
£
**(52,391)**
**-**
**(52,391)**|**31.12.23**
31.12.22
**£**
£
**-**
1,344
**570**
570
**570**
1,914
Net
movement
At
in funds
31.12.23
£
£
**25,497**
**274,356**
**(75,720)**
**74,280**
**(50,223)**
**348,636**
Gains and
Movement
losses
in funds
£
£
**-**
**25,497**
**(75,720)**
**(75,720)**
**(75,720)**
**(50,223)**|
|---|---|---|
continued...
Page 10
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **8. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.1.22
£
**Unrestricted funds**
General fund
195,968
**Restricted funds**
Property
150,000
**TOTAL FUNDS**
345,968
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
68,219
**TOTAL FUNDS**
68,219
A current year 12 months and prior year 12 months combined position is as follows:
At 1.1.22
£
**Unrestricted funds**
General fund
195,968
**Restricted funds**
Property
150,000
**TOTAL FUNDS**
345,968|Net
movement
At
in funds
31.12.22
£
£
52,891
248,859
-
150,000
52,891
398,859
Resources
Movement
expended
in funds
£
£
(15,328)
52,891
(15,328)
52,891
Net
movement
At
in funds
31.12.23
£
£
78,388
274,356
(75,720)
74,280
2,668
348,636|At
31.12.22
£
248,859
150,000|
|---|---|---|
|||398,859|
|||348,636|
continued...
Page 11
Bridgwater Foodbank
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **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|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|146,107|(67,719)|-|78,388|
|**Restricted funds**|||||
|Property|-|-|(75,720)|(75,720)|
|**TOTAL FUNDS**|146,107|(67,719)|(75,720)|2,668|
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
Page 12
Bridgwater Foodbank
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
|Detailed Statement of Financial Activities
for the Year Ended 31 December 2023|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**45,204**|43,153|
|Gift aid|**1,806**|1,436|
|Grants|**10,000**|5,000|
|Car Park|**8,618**|7,637|
|Standing orders|**10,471**|10,585|
||**76,099**|67,811|
|**Investment income**|||
|Deposit account interest|**1,789**|408|
|**Total incoming resources**|**77,888**|68,219|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Storage|**264**|3,279|
|Rates and water|**239**|167|
|Gas & Electricity|**2,526**|1,421|
|Telephone|**1,329**|1,217|
|Sundries|**728**|277|
|Food purchases|**552**|273|
|Premises|**5,108**|473|
|Repairs and maintenance|**35,080**|1,588|
|Publicity and printing|**274**|266|
|Van expenses|**2,014**|2,216|
||**48,114**|11,177|
|**Support costs**|||
|**Management**|||
|Insurance|**834**|696|
|**Finance**|||
|Depreciation of tangible fixed assets|**2,513**|2,885|
|**Governance costs**|||
|Accountancy and legal fees|**930**|570|
|Total resources expended|**52,391**|15,328|
|**Net income**|**25,497**|52,891|
This page does not form part of the statutory financial statements
Page 13