REGIERED COMPANY NUMBER: CE009433 (England and Wal•sl REGi>fERED CHARITY NUMbER: 1170826 ort of the Trustees and Unaudlted Financial Statements for the Year Ended 31 Decernber 2023 for Th Hereford Food Bank Th)rne Wldgery Accounianry Ltd Chartered AccntaNtS 2 Wyevale BuSiS Pat* Klngs Acre Herefrffd Herefordshire HR4 7BS
Ccntents of the Financial Statement5 Report of tTruStee$ 1 to 9 Inderdent Examfw's Rert 10 StatetrEnt of FInala1 Actlvftfes Balan Sheet 12 Note5 to the FInalfaI Statements 13 to 19 Detalled Staternent of FinarKial ActItieS 20
The Hereford FrJd Bank of the Tr Year Ended for 2023 The trv5tee5 who are also directors of the chartty for the purpxes of the Companle5 Aci 21Th, present thelr report with Ihe financlal 5Latem&nts of the charity for the year ended 31 Decemter 2023. The tru5tee5 have adopted t Pro$10ftS of Accountin8 and Reporting by Charitie$: Staternent of Recommended Praciice applicable io char6ties preparing their aCCJnts in accordarKe wth the Flnancial Rertin6 Standard applicatle In UK and Republic of Ireland IFRS 1021 leffertive 1 January 20191. Foreword to t annual report IL 15 difflcult io remain optimi5Llc when facing the Challenge5 wilh the wdening gap between wage increase5 and nflation. ln HerÈfordshire this 1$ parCUlarlY critical where ihere are 518nificantiy lower 8ross weekly earnln85 alongside Me of the worst leve15 of houslng affordability in West Mldlands region. Over the past ten years there has been a Srowih of over 83% in the demand for Lhe help from the foodbank and in 2023 the food bank produced 2315 emergency food parcets and helped 4,737 people, plu5 over £13,(YJO In vouchers, provrding an estlmated 104,QbJO rneals. However, even these are times of considerable economfc hardship and the nUMr of people that need help is increa$lnB¥ the fcod bank Is managing to atiract rfficient donations and grants ¢0 ensure that this very imwtani Service is well funded and can be 5UStalned for the foreseeable future. Thi5 reflects very positively on the efforts of the management team, the volunteers and trf)ard of trustees, but really dernon5trate5 the tremendw5 5UPWrt frorn the local cornrnunlty who donate huye arrKAmts of ffY)d and considerable sums of money to ensure that food can be put on every table where there is need. But OFeratin8 ihe fwd bank wwl¢Y rK>t p055ible wlthout the fantastic efforts of the food bank'5 voluntews wh) undertake so many tasks from attractfng dDnations at sukwrnarkets, all way through the fd rnanagement process until erner8ency parce15 are delivered to the door. In 2023 ihis arrrfjunted to oyer 7,570 rec(ded h)urs b*ith many rIre going unrecorded. 2023 brought two Sl8nificant chan4es to the management of the fcod bank, our long-stakx11ky4 manager, Jacquie Aiscp. left U5 in February, and one of rw lonse5t 5eMng trustees, Lw Hurds, resigned in Qc¢ober and I would like to ihank tIEm for i year5 of supp)rt, hElplng the frth bank 10 8row to it5 yjccessful t¥)5itlon. Ros•nthal. Chlr of tho Board of TrustB05 EXutfve 5umm4ry Hereford Food Bank Is ccrnmitted to the relief of wverty Ir¢ Hereford5hire and the surrounth.ng area through the wovlskn of emergency fwd parceL% cmtarTring basic nutrltioTral f(Kxts and other ba51c arrETritles. Food Bank Opera princlpally through refeal5 from a8erKles, churehes and certain individuals WTr are aware of the needs of the people are supwrtin8 and belleve that a parcel Is appropriate. The Hereford Fwd Bank Is a Charitable Incorporated Or8anlsatlon ICIOI and wa5 reg15tered by the ChaTity Comm15sion In December 2016, Charity Nurnr 1170826. 2023 was another year of exceptlonally high demand. there the Fwd Bank yjpplled 2,315 food parce15 5UPPCrting 4.TJ7 5n¢Jfvidua15 includlng 1,661 chlldren, plus over C13.(m in food VOLKhers. Jring Ihe Christmas perlod 45 families were supported 1th £5,5CV VOLKhers for food and tOy5y and some seaswal glft5, taknng the total of meals ovlded in 2023 to over lo4.10. Pa8e 1
Hereford Fwd Bank for the Year ETrJ2d 31 December 21r2 0EcTE5 AND ACTIVIMES ObJectlve5 and dirr The object5 of the CIO - as set out In It5 governins thurreTht- are as fdiows:. The relief of poverty In Heref0rdSM and the surrounding area through the provlsion of emergency foDd parcels containing basic [trILlLa1 fLY)ds and other basic arnenities, found& on ihe Chdstlan prtnciple that humanity str1[d 'love your neighbour a5 ywrselr. The property of the CIO shall not be applled for wrp05es lCh are N)t charftabte. Our w51on The provlslon of fd parcets to those reclpfents deemed to be In emergency need arfslng from, for example, horrEtessne55, P5ychiatdc teakdown or delayed beneflt paymenis. We ¢) not ish to create dependerKe and we work on prem15e that the FL¥Jd Bank Is Intended to help indiwdua15 or famllles over t& c$1$ untll they can support themselve5. Our aims and Our maln aim is to c(mtinue to pro¥A¢ food or voucher5 and baC toIlett$ io people In need. To achfeve thls we need a sel of objeciive5 th clear goals. (Xjr objectlves are: To ctsntinue to develop the io provlde a sustalnable source of irKome and rnanaEe exrenditure To vÈLu2 (yjr volunteer base To develop workin8 arrangements other agerKie5 to try to alIeate fotrs wverty ai source and rethce the need for erllergency ald To ensure a safe, hy4ienic working environrnenl To ensure that the 7-day emergency fi)rMI parce15 include healthy and nutriti(5 fwd that peopLe wll eat. A fcKKI parcel for up to a MamuM of 7 days. w the equivalent in fwj vouchers, is wFplied according to need. Referrals come from case worker5, soclal workers, NPIS Staff ar other ageKles and indidal$ and an appropriate frA)d parcel is Prepa. Due to current economlc drcuMstes the Trustees have contlnued to allow Indivtduals WIK) have been experiellclng hardshlp LO obtain an Inltlal f(x)d parcel thOut the need for a referral. The Food Bank also pTorfdes Infomiation to the resSdents of Hereford5hire and the surrgundlnE areas io Inyove understaThJlng of the concept and Impact of rmwerty. The Fujd Bank mainialns good worklng relatlonshlps wlth referring agencie5 and other food providers by attendiny rneetings and dlStritrtlnS infornwtfon abJJt its operali(m on a regular basis. Publk beneflt The charity is a public benefit entiiy. trustees have cornpiied wlih thelr statutory duty io haye due reEard to the gufjdae on public berEflt published by the Charity CommIssn In deciding whal artiwtles the charfty $Id undertake, and how those actiVitS are made avallabie to the wtrAic. The Charit$ maln actfvlty undertaken for the public benefit in relatlon to fts charitable objects durlng the year, was the provi51on of eTner8ency food parcels. These services - in accordance th the charlty'5 cbjecrs . are typically restricd to iK)se iocaW %ithln the cwnty of Herefordshlre and surroundlng areas. This 15 largely for IoElsiical reans. tr¥Jt a150 Lecau5e the trustees believe that the charity Is mring a particular demand for such serv1, which Is not nt by other organiSaLi(S In the area. The seMce5 are free at the point of need, allgh certain 5ervlces are funded by a recharge to the local aLrthorfty, in order to cover the costs of provfding the servi, and Lo rnalntaln quality. Pag 2
The Hereford F¢)Jd Bank rt of the Trustees for the Year Ended 31 December 2023 O&JEcnvES AND AcnvmES Volunteers Volunteer ntstnter remaln hlgh at just over 1, with a regular volunteer base of over 80 w)ple filling the rota supplemented by very flexible and adaptsb(e reserves. A he amount of credll 15 due to people make the organisation work 50 well. day in anil day out. prodIng food to those in need.. the volunteers and the tearn leaders who generously 85ve their tirre to prepare food parcels, receive and g)rt donatbns, collect f[ from superrnarkets and distrfbute to cLlent5. They are an arnar asset to the F<K)d Bank and dumng 2023 volunteers recorded over 7,570 hr$ of work, th certainly many more hjr5 unrecorded. operatlon of this scale. 5upporti so many people and malntalnir4 an essential role thfjn the conYNnity require5 very Competen¢ Frxl Bank Wanager io ensure that both clfjents and referring agencSes can be assured of qU(ar openini j¥S and an efflclent service. A deputy or vdunteer eo-ordinatcrf yjpports the rnaTr48er. and organlses the volunteer roias. In 213. a lob-share was introduced to rnanage the large nurnber of incornlnq telephone referrals. Fo)d donadons We are extremely grateful for the 5UPPDrt reIVed frn the staff and customer5 at Aknrrfson's, Asda, Sain5burfs, C(KJperative Stores, Waitrose. Tesco Bewell Street, Welllngton & Ewyas Harold Post Office and Stores and tnany others in the aiea. MAny of the store5 have thelr own Community Champlons and we would Ilke to Tllention how well they have worked u5 to increase donations and aequire grants. We now undertake regular Focmj Drfve5 at saInbus. Asda and Waltrose 1r volunteers working bith store staff encourage donatioThs of the fcx)d items thal are In Short supply. We would a150 like to extend out thanks to the many clmjrches and thelr parishioners vhh) regularly donate f()d and other housekld itern5, a5 well as gifts of money and bn4 It to the Fo)d Bank. The Hereford communlty 15 amazingly nerOuS and durlng 2023 ha5 thnated a very substantial quantity of f(M)d, estlmated at £87,570 but the continuing high demand Ihr<YJgIut the year ha5 required us to tw conslderable quantitles of ffY)d to supplenThi our supplie5, totalling sorne E53.8k, However, level of finanrial support that we have received ha5 allowed us lo purchase food to wpplement ary shortfalls In dwations and to pmvide fresh ff)d, Incluth"n8 frult and vegetables, In every f¢))d par1. Page 3
The Hereford Fotrj Bank Re rt of the Trustees for the Year Ended 31 Decernber 2023 ACHIEVEMENT AND PERFORhlANCE Charltable actmttes Back round and AchieverreTrts io Date Hereford Food Bank been functioAln8 In forrn or anoiher slnce 2¢M. Originally It the Shape of Cornmunily Larder established by the Churches in klereford Dl((ese ActioTh Team, Whe Individuals having obtained a VOLKher from a recognised Agew could attend fbe Larder and recelye a bag of food whlch would enable ihem to cope wAth their current problern. In February 2013 the Food Bank opened in Aubrey Street and the voucher system was aboltshed. being replaced by System of referra15 frorn agendes and recognlsed IndIdual$. At the end of Z016, Food Bank beearne an inthpEndent registered chart¢y, reFlacing the prevk)u$ operailon under the au[ of the Hereford DiLKe5an Church of En8land Council for Soclal Aid. Following a 5UStained Increase In requests far foJd sup)rt, the prerni ai Aubrey Street became small and a rfKsve wa5 rnade to a larger unit In MQnkrfk Street in 2019. The FOLXJ Bank has transfornEd itself over the past ftw years, initially in re5pMse io ihe Cod-19 pandemk followed by the tost of lin8 Cri515 anL1 Is now able lo effertlvely utilise rerrK)te wothlng and with a substantlal lfitrease In volunteer nurnbers can rapidly re5wnd ro peaks in demand. mma of the ars activitie5 In her foreword, the Kgme Rosenthal mentlowl that a change of manager had taken place early In 2023, aThJ we are extremely fortunate that the new rnana8er, Helen Parker. has very 5ucce55fully taken on the leadership r£Ae and alded by wr volunteers has Èeen driving a number of changes and Imwovement5 thTOU8hout the year. The core aCtity of the Food Bank Is to Supply emer8ency food parce15 - and In 2023 an impressive nurnber of 2,315 were picked, patked. aThJ provided to a total of 4,737 people. Our 3-day erreryency f(h)d boxe5 aye continuing to be very useful and in 2023 50 were supplied to other ageIe5 and bodles across aty. These are partiClarlY helpful at weekend5, when many agencles are rKJt woting and Wre the Fwd Bank 15 rK)t open efther. We are rM)w regularly proding f¢)od vouchers which we offer In speciflc clrcunKtances and can be used to purihase food and other itern5 ai supermarkets which allows us nKJre flexibility In pIng reduce f(x)d rM)verty. We a150 occasionally use vouchers allow families in temp)rary acc(Knmodation to buy a h)t meal. Eath year we try to lrnprove operatlon. and In 2023 we have establtshed a serwice with the Citizen5 Advice kneau ere we can directly refer people for SUPFQrt If Ihey are eXperfeIng a fInala1 cri515. In addilion, we have intmduced a vowher arrangernent vAth the LIn9 Room where vouchers are glven eItr for hot f(N)d or for their weekly E5 'shop', and we also refer some people to The Livlng RLXJrn for thelr rtfjage service. where they e5Labli5h whlch a8encle5 a cliwt should approach for Pdp and adCe. Further Initiatives In 2023 include the estatllshrnent of a Fwd Task Force wl¥) reW the fwd items in a food parcel to maintain a leyel of nuirftlon as well as belng accePbIe and one of the volunteers has even written a F(x)d Bank Cookbwk which use many of the food items found In a parcel. We are also rnakI use of an app called Bank The Fwd thith allows the frJd bank io comrnunlca with YJPFKJrters in the Hereford area and let them krnw the iiems are n&t needed as they entered a 5upemaet. s a result of a reduciion ln dDnatlons of food, a team of xjpemiarket collectors has been establisw lor re-e5tabllshed, slnce thls t&ik place before Ihe Covld pandemKI. TW have en very yJcce$51ul and with the help of the supwmarket tommunlty champions In Sainsburys, Asda and Waitr05e and of course the Ial communlty, thls has resulted in many filled trollie5 of fl. Flnally, we made some significant change5 to the way we help people thring tIE Chri5trnas period, by adding all the festive donations our regular fwd parcels. but in addition providing voucher5 for fwd and toy$ 10 45 famllles wlK were considered to need extra wprAYi. Th15 allowed u5 to help nTh)re people while carryln8 Out our nomial fc)d dIstrttiOTh from Monkrnoor Street. Page 4
The Hereford Fwd Bank Re rt of the Twstee5 for the Year Ended 31 December 2023 ACHIEVEME1 PERFORMANCE Reelplents of Food fn 2023 In 2023 the F(x)d Bank supplied 2,315 f(kid parcels supFortfng 4,737 indivithjals, Including 1,661 children, which represents nearly 1,lKmj me)&. A further £8.370 of wppcrt was pded In the form of vouchers. Dut1ng the Christrna5 perkwj an additlonal 45 farnllies recÈlveé Chrf5tmas parcels contalnlng w'ft5 and toiletries and mo importantly vouchers for focxj: 8ee$, fts5h rneat and frult and vegetables as well a5 vouchers for loy5 or £ifls. The graFth telow derrL)nstrale5 a patM of demand where there is the greatest need du4 the wSnter rnonths when heating costs are high and sea50rtal work is Ilm1. As in preious ar%, demand ded in the suMr monih$, peeple receiing Unlyersal Credit or other beneftts were 8lven a specltl cost of living payment and It 15 Eeiieved that thls. In addition to 50rne of the schotsl FK)Ilday rneal clubs, reduced the demaTrJ for fcJd parcels. A further cost of livlnE payrrEnt was awarded in November, and this 15 also reflected in lower Lknwnd. ernphasi5ing that peiple generally do Use the food bank unle55 tw are experfeIng genuine hardship. 2019. Food P•r(DI1huOn Nth•fFQ9ir<¥ktsylh To put th15 into perspective the graph below IIIustrate5 the pa5l five years: numbers of food partr15 yjpplled are In blue, the nurnber of a¢JJlts 5UPkX)rted in red, and chlldren PrXjrted irs green, aThY the th)tted Ilne 51x)ws the trend. This really derrKJnstrates unpredictability of the demand for our 5eTwces but illustrates that the trend remains on a rapld irKrea5e. It is diffKult to make cornparlson5 LEtweeTr tIE years there remains an underlying trend of IrKreased fcx)d [vertY with the greatest spike5 being caused by ¢Jlflicultie5 belng experienced in the mosi severe waves of the Covid parthmic and more recently durlng winter months, alrntsst eertalnly linked the cost of heating. Food Dlstrlbutlon by Month 2019-2023 Page 5
The H ford Fd Bank ortoftheT for the Year Ended 31 Decethr 2023 ACHIEVEMENT AND PERFORMANCE The reaxins why people need help from the Feod Bank contlnued to mnllored. Thi5 slw)ws ihat the wst Slgnlfkant issue continues io te problern5 Wlth debt, bwing or ernployrrtht. lJiiiEles ¢nVdEklbutin8 twdlsatsil yttèd The flnal graph below indlcates the people and agerKles who refer clients to the Food Bank From 2ff21 the Trustees allowed the F(x)d Bank to ateepi referra15 from individua15 on a one-off basis, rather than via the rnrmal rte of agencle5. Currently an Initial parcel 15 awarded ¥th any yjbsequent requests bein4 inle4 to go the referral rwte where the pers should 8et a5515tae with their crisls. 2023. Sourceg of Referrnl Eé4th7ty Jrbcqntfe ILA The statlstlcs are Uja Tr()nthLy to slv)w emer8in4 trend5 and to try to predlct futwe demand for the se¢vke. As menLioned pmiously, in ter1Th clrcurnstarKes food v(Alcr5 are Proded, which can be Used to purchase forJ and Ot iiems at yjperrnarkets, including hot meals. which allows us rnore flexlblllly In helping to reduce It1 verty. Th15 15 parttularly helpful for people who a In temwrary accommodatlon with little ablllly to prepare fwd. In 2023 vouck*rs to the tal of £8.370 were Issued, a significan¢ Increase from 2022 where a total of £2,980 of chers were issued. The Food Bank worked on thi5 methooÈ of SUPPJTt with a national affiliatlon of Food Eanks and ha5 looked carefully at the methods In use by other F£wJd nkS to establish what works well before adopting this in Hereford. The Food Bank continued to rk with several I(1 grp5 who provlde f<)od ald wlthln Hereford and where stocks have allowed, have WFed Ihern by yjpplwng baslc food itern5 such as pasta, bean5, soup, and tnd tomat£E5 for them to é1strltrAJte to thelr cllents. These groups are cornmunlty based and rnake a very valuable contributlon by provi<lSng a dirert channel from the short.llfe dated f(xJd from superrnarkets to the public. Page 6
The Hereford F¢)Jd Bank he Trustees for the Year E 31 December 223 ACHIEVEMENT AND PERFORIiINCE Donatlons and Grants In 2023 The Fl Bank has alway5 teen well 5UPPOrted by the local c0rnrntIty tyjt frorn the onset of the pandernlc the response from IndidUal5, churches and local or8anlsatlons ha5 been truly amazing and th15 year grants arKI donatlons have arjnted to £184,666. Thi5 includes donations from ihe publlc Trria Sleward5hipi Facebwk and Give a5 You Live of £12,377 and Is In addit1 to donations of fresh Prthle and tinned good5 valued at £87,570. A large of (k)nations are re[wed aN)nyrnou51yJ some f sl8Thlflcant alniS, and the Fcrfyj Bank would like to take thls opportunity to acknwled8e arKI thank all people who 5UPPJrt its work. It is also very pleasing that a number of our donor5 are re8i5lered for Gift Aid. which added £13,209 in 2023. The Trustees would like to acknowledge and to thank the followtre organtsatlons for their yJp5YJrt in 2023, bjt there are rnany re indlviduals and oryani5ations who have supported us. some of whom have queSted to remaln anonyTllou5: The Alan Brallsford Trttyt £12,¢JlO Hereford Round Tatle £2,018 St Fra15 Xavier £3,103 Vennture £2.10B Weobley & StatOn Chjrches £933 Hereford Lion5 £1,750 Key Sy5terns £1,5CIJ Avarra Foods £1,820 Connexus £3.320 Lugwardine Charity £1,IX Rathtrle ra1 Aid FwNla15on C1Z, Belrnoryt Pash C1,LlXI Ailpay £1,(XKI The Grace Trust Hereford Home for ihe Inflmi Mumford erIal Charity Citizen Housin8 Fluldm35ter GB £i,Ic £10,( £3,(XXI £1,2 FINANCIAL REVIEW Ffnanclal position The Hereford Food Bank agaln benefitted frorn rhe outsranthng generosity from the publlc and ihls enabled If to prowde I to Feopie In need throughout the year. The level of donaUon5 remalned alrrrf)st the fr( 1186k In 2022 to £185k In 2023, eontlnulng to reflect public concern aut the Significant Increases in the cosi of livirv4 a&érsÈly affecting the p)orest members of the c¢)rnrnunity. At the start of the year, tlwe wa5 an opening balan of C325k held in two accounts: the Charlties Aid Fcwndation arKJ the laonrnoulhshire Bulldlng Soclety, two further actounts were set up (knng the year. Incorne increased substantially in 2023 to É357k, whlch fncluded É155k from the Govemment WseFKJld prt Fund. The ger0$1[Y of the IrKai community and businesses rertialned outstanthng at over £184k. In consequence the F(K>d Bank had a cL05in8 bank balaKe at the end of Lhe year of É476k, which was a very sat15factory wxition. Of thls. the trlee5 have now set aside É60k as a general reserve. (Trerall. thls placed the Frd Bank In an excellent position for yjpwrtlng people In need throughout 2024. Prindpal fundlng sources sIn the charity wa5 established a5 an in&Fendent entity In 2016. level of donations frorn individua15J group5 and ILKal bu5irEsses has Increased stead11y, and In 2023, In respmse to the concerns over the cost of liwng thi5 increased 10 £184,666, an additional £155,6 from the Governnt Household SuppK)rt Fund administered by Herefordshire County Courtll Thls dernonstrate5 the gener05tiy of local pEople and buslnesses and thÈlr strong supwrt for the Fcx)d Bank. from local thurches remalns Imw)rtant th reBular ¢Jonatlons of morey and ffyxl, wlth several ct)ngregations ncluding Sl Francls Xavfer, Belmont Parish, Weobley and Staunton churche5 contrityjtlng very slgniflcant aruniS of ney. s in the prevlous year, the Trustees reCernnded that grants were Th)t actively sought in 2023, however, Several yjbstantial grant5 were very gratefully received, iluding the hmjmford Wemorial Trust, The Alan Brailsford Trust. Hereford Round Table, Hereford Lion5. Key System5. Avarra FIS, Connexu5. The Lugwardine Charity Allpay, The Rathine Moral Aid Foundatlon, Cltlzen Housingj The Grace Trust, Vennture, Hereford Horre f¢x the Infirm and Fluidmaster. We are also very gratefvl for the huge arwunt of donation5 rettived directly from local peoAe, many of whom aU>w us to recover Glft Ald, and ITh 23 we reclaimed £13.209. Page 7
The Here Bank for the Year Ended mber 2023 FINANCIAL REVIEW Reserves pollty The trustee$ rewew the re5erve5 polky anuallY1 Iri tIE light of future plans, and on the basfs of the rrK>St recent accounts informatSon. They aim to maintain a level of re5erve5 sufficient to ènable the charity to take advantage of new opportunltles, and to cover the expected and unexpected c05t5 of wrsuing 1¢$ objectives thjrlng period5 of reduced fuThJlng. Due to the current ecommlc UertaIntie5. the trustees consider that required reserves level Sh1 be between 6 and 9 months of normal expenditure. In addltloTh to thi5, the trusiee5 airn to rnaintain a re5er¥e of £60,CO) to cover the eharlty'5 liabilitie5 that would arise if it were to cease io ¢)perate. At 31 December 2023, the charitws unre5trirted reserves stood ai £541,65412022: £383,708), whlch wa5 equlvalent to 22 rrK>nth512022:18 monihl of normal exFendlture. Th1$ is in excess of required level, and the trustee5 wll take steps to redLKe tIE aUnt durfng the ne financlal year. At the year end there was restricted reserves of £13112022.. £1311. FufuRE PLAN5 The char5ly will continue to work towards it'5 and oblectlyes. STRUCTURE, GOVERNANCE AND AIANAGEMENT GtsverniTrg document The charity was e51abli5hed as a Charltable Incorwrated Organlsation ICIOI on 13tkcember 2016 and 1$ govemed by Its constitution I3nded 22 October 20191. ReCrtment and appolntment of new trustees Appolntrnenl of trustees is by majority election of board of trustees in 8ereral sessi1. Nthy tNstees under go forrnal IndKiion proce55 durng which they are glvem a broad out11 of the charitys pollcles and pr{1¥e$. TW are also glven a copy of the charitys cdn$¢i¢ution land any amendtnent5 rna& to 111. artd a copy of its latert annual report and statement of acctxjnts. Tlw are expected to famlllarf them Selves with details of formal trustee responsibllltle5 as laid down in charfty law. Under Ihe charitls CotItUtional provisions, trustees serve f¢x a rnaxirn period of three years, after which time tw cease to IvAd office, but may be reappoirtted by the board of trustees at a 5ubsequeTrt gera1 ThtIng. Organlsatlonal structure The trustee5 exercise overall control of the or8anisatlon ihrLwJgh attendance at wular rnanagement tearn wtlnqs. trustees employ a Manager and a Deputy Manager for the Food Bank, who cwtrol the day-to-day operatlon5. A managernent tearn, which fjncludes four cf the Trustee5, meet resularty throhoul the year. REFERENCE AND ADA4lN1RATrVE DEfAILS gi5tered Company number CE(M19433 (England and Wale51 Reglstered Charlty nUmr 1170826 Reglstered office 41 nkrn0r Streei Hereford HRI 2DX Tru5t••5 M Rosenthal Ichairl G Mi115 (resigned 20.4.241 P E King (resigned 16.1.241 M J Wllkln50n FCJO L Hltrds H Stephens laprx)Inted 2.11.231 S Ewdrt laprAJlnted 2.11.231 Page 8
The Hereford F Bank rtoftheT he Year Ended 3t Decernber 2023 REFERENCE AND ADAlINIRATrvE DLs Independtrnt Examlner Thorne Widgery AccnrKY Lid Chartered Accountant5 2 Wyevale Buslness Park Klngs Acre Hereford Herefordshire HR4 7BS Bonktr CAF Bank Ltd 25 Klngs Hill Avenue King5 Hlll West Malllns ME19 4JQ Monmouth5hire &Jildlng Soclety John Fr05t Square Newport NP20 1PX oved by order of the board of trustees on.... .. - al signed on Its behalf by.. M Rosenthal . Tnjsteè Pase 9
Ind endent ExamirEr's Hereford Food Bank theT ees of Independert examlner'$ report to the tru5tee5 of The Hereford Food Bank I'the CompanYI I rewrt to the charity trustees on my exarnination of ihe accounts of the Company for the year ended 31 Decernter 2023. Respo11b1IItIes and basls tsf roport A5 the chartils rru5tees of the Company land also Its dlrectots for the purposes of company lawl yw are re5wnsibie for preparatlon of the cOUnts In actordarte the requirements of the Companles Att 20c61.the 2006 Act'i. Hawng 5at15fied myself that the aCcntS of the Company are Th)t re(WI to be audited urKler Part 16 of the 2or6 Act and a ellglble for Independent exarnlnatlon, I rewrt In respect of my examlnat1on of your charity's accwnts as carried out under Sectlon 145 of the Charftle5 Act 2011 1 the 2011 Act'l. In carylng txjt my exarnination I have followed the Directions glven by the Cknaty Commission under Section 145151 Ibl of the 2011 Aci. Independent exaMIr'S statemènt SiKe your tharlty's gross Ineome exceeded E250,Cfl) your exarnIrr must be a member of a listed trty. I can conflrm that l arn quallfled to undertake the exarnination aUSe l am a member of A550ciation of Chartered Certlfled Accwniant5. TrNhich 15 one of the listed iodles. I have completed rny exarninatlon. I conf5rm that Th) matters have corrE to my attentlon In ¢onrrtion writh the examination wing m2 cause to belleve: accounting record5 were not kept in re5t of the Company as rewlred by Sectlon 386 of the 2(lJ& Act. or the accounts %? not accord wth those records.. or the &tounts do not comply wlth the accountir¢g requlrements of Sectkn 396 of the Act other than any requlremeni that the accounts gfve a true and fair vkw whlch Is not a matter considered as part of an Independent examlnatlon. or the accoun15 have not been prepared in accorda¢ wlth the method5 and principles of the Staiement of Recomnnded Practice for accounting and rewtlng by charit2es lappllcable to charfties preparing thelr account5 in accordance wth the Flnancial RepDrtlw Standard applicable In the UK and Republic of Ireland IFRS 10211. I have no corKern5 and have corne acr055 rK> other matters in connection examlnation to which attentk)n shId be drawn In ihl$ rep)rt In order to enable a proper unstanthn8 of the account5 to be reached. Lisa Weaver FCCA The ASSlatIOn of Chartered Certified Accountants Thorne Widgery AccountarKy Ltd Chartered AccountaTrts 2 Wyevale SInesS Park Klngs Acre Hereford Hereford5hire HR4 7BS Oate.. Page 10
The Herèford Fcod Bank Statement of Financial Aetivitie5 lor the Year End 31 DecemLEr 2023 31.12.23 Total fund5 31.12.22 Total fund5 Unrestslcted fund Restr[cd fund Notes INCOME AND ENDOWAIEirfs FROAI Donations and legacie5 285,446 285,446 302,328 Charftablè actMtle5 ErrErgery f(¥)d parcels 158,441 158.441 84,824 Other trad(As actiwties Inve5tnEnt i0 6n Totsl 387 833 EXPENDITURE ON Charltablo actfvltles EnErgenty food parcels 292 693 NET INCOIAEIIEXPENDrruREI 157,886 157,755 133,582 PECQNCILIATION OF FUNDS Total fund5 brJght forward 383,768 383,899 250,317 TOTAL FUNDS CARRIED FORWARD 383 899 The [te$ form part of these finaroal statements Pa8e11
31.12.23 Total fund5 31.12.22 Total fund5 Unrestricted fund Re5tr(cted fund Notes FIXED ASSETS Tangible a5set5 12,731 12,731 15,274 CURRENT ASS Stocks Deblor5 Cash ai bank and In hand 44.481 6,929 44,481 6,929 37,715 8,238 10 531,140 531,140 371,688 CREDoR$ ArnLwJnts falling due within one year 12,2171 12.2171 13,C631 NET CURRENT ASSErs TOTAL AssEfs LESS CURREtrff LIABILITIES 541,654 541,654 383,899 Nrr ASSETS 383,899 FUNDS Unrestrirted funds Restricted fvnds 13 541,654 383,768 TOTAL FUNDS The chatsb[e company is entitled to exemption from audlt under Section 477 of the CThnpanies Act 2W6 f¢x the year ended 31 Decernber 2023. The members have rKJt required ttr cornpany io obtain an audit of Ils financial statemenis for the year ended 31 December 2023 In accordance with Section 476 of Companles Act 2006. trustees knoWle(lIe their re5wnsibilities for ensuring that the chatable company keeps acctyJntln8 record5 that corfy th Sectlons 386 and 387 of the Companies Act 21KJ6 and prepartng fInanda(5tateEnts which glve a true and fair of ihe state of affalrs of the charftsble cornpany as at the end of each finarKiat year and of lis surplu5 or def1cii for each flnancial year In accordance wlth the requirements of 5ecllon5 394 and 395 and which othemse comply wl¢h the requirerfnl5 of the Companie5 l relating to flnanclal staternents. 50 far as appllcable to the charttable COnY. These financial statements haye been prepared in accordance wlth the prO510n$ applkable to charltable companies subject the small companles regime. lal The financlal tern Is were approved by the Board of Trustees and auihorised for issue on JIÉ ftylLfr . and were 51gned on its behalf by.. M Rosenihal - TrUse The rK)tes form part of these flnanclal staterrEnts Page12
The Hereford F( Bank es to the FInar7 tements for the Yèar En 31 Decemitr 2023 ACCCiltrmNG POLICIES 8asi5 of preparlry the flnanclal statements The fitlancial Statements of the charltable company, whlch Is a public benent entliy under FRS 102. have FEen prepared in accordance ¥th the Charttle5 SORP IFRS 1021 kcounting and ReForting by Charitles.. Statement of Recomended Practlce appllcable to chatreS preparin8 their accounts In accorthn¢e th the Financial Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191., Financlal Rep)rtlng Standard 102 Tr Flnanaal Reporting Standard applicable in the UK and Republic of Ireland. and the Companie5 Act 2LKKJ. The financial statements have been prepared hlstorical c05t conVentc. r)In8 Concern The trustees assess Whet the use of goirvx concern ts approprlate l.e. ther there are any rnaterial unrtaInlIes related to events or conditlons ihai may casi slgnificant doubt on the abillty of the cornpany to conlinue as a golng concern. The trustees make thls assessment In respert of a perfod of at least cne year from the date of aUtnSatIOn for 5ssve of the flnancial staterwts and have cancluded that the company has adequate regources to contirKJe in 0rational exlsiente for the foreseeable future and there are no material urKertaintles about the charity's ability io continu2 a5 a going concern, thus tlw contiNJe to adopt the golng corKern basis of accounti in preparin8 the fsnancial statements. Income Ail incorne is recognlsed in the Staternent of Flnanclal Actl¥Atles once t1 charity ha5 entitIent to the fund5, it 15 probable that the Incon 11 be recefved and the amwnt can be aSured iellably. Gifts in kind a Included at a reasonable estimate of thelr value to the eharfty. or the amount realised. They are included in the 50FA when recelvabie. Donated semces and facilitie5 are Included In fncomlns resources Iwtth an equivalent entry to res1£e5 expended), where the benefit to the charity 15 rea$ablY quantlflable, nasu¥able, and mterfal. The aThyJni recorded 15 the estlmated vhlue to the chariiy of the Seth or facillty received. The value Df volunteer help received 15 not included in accounts, It Is descrftkd In the irusiees. annual report, where material. Investment IntorrE 15 Included fn the SOFA vlhen recelvable. Expendlture Liabllltles are recognised a5 expendlture as sD a5 there 15 a legal or con5trLKlive 078ation committin8 the chatY that expenditure. it Is probable that a transfer of economic befIts TrMII be Tequlred fn settlerrEnl and the ann¢ of the obligatkn can be rrEasured reliably. Expendlture Is accoun for on an acErua15 basls and has been clas51fled undeT ading5 that aggregate all cost related to the category. Where costs cannot dlrettly atEjted to particular headings they have been altocated to aetlwtie5 on a ba515 con51Stent the se of resourw. T4n8lbl• fixed a55ets Flxed assets are initlally recorded at C05t. and capltallsed where cost exceeds £1CO and the asset 15 exFected to provide an ecommic benefit beYd one accounling per¥)d. Flxèd asts lothw than those held for investment wrp05e51, are shown after maklng deductlons for aeturnulated depreciatlon and Impairrnent provi5ion5. Residual value5 are assessed at eThl of each accovniin8 per¥LKI, and assets are reviewed on an annval ba51$ for any itKJkators of irnpairment. Depreciatlon Is calculated so as to wrlte off the cost of an a$5et Ilw its estirnated residual value), over the useful eCOrMIC life of asset. No deprecialTron 15 char8ed in the year of dlsposal. The rate5 used were as follows.'- . Leasehold proFerty . ewal Instalnnts over the perfod of the lea. • Motor vehlcle - 25% reduclng balance. Plant and machinery - 20% siralght line. Computer equipment- 33% strai4ht line. Page 13 continued...
Fo)d Bank ACCOUNTING POLICIES - contlnuod Stocks StrkS are Val at the lower of c05t arKI net reallsatle Yalue, afr rning due allowance for obsolete and slow rnoving Items. Purchased stock is valued at cost, after maklnB du2 allowarKe for obsolete and siow-rrKMns items. Cost 15 calculated uslng the fir5t.in, fir5t.ou¢ basis of valuaiion. Donated sto¢k is grouped accor¢thn8 to prLhJuct type, and valued ai an estirnate of the average unlt t05t that wauld have been incurreo by the oryani5alion If it had purchased those good5 Itself. Taxatlon The charity Is eXet from corpjratbjn tsx on its charltable attlties. Fund accountlng Unrestrtied fund5 can be used in accordaKe the charftable objectives at the dlscreiion of the trustees. Rettrlcted fund5 can only be used for partlcular Te5tricted purFeS wlthin the object5 of the charlty. Restrictions arise when SlfIed by the dorKY or when funds a raised for particular restrfcted purp05e5. Further explaTrat(on of nature and wrpose of each fjjnd Is Included in the notes to the financlal 5taterrEnts. Leaslng commltrnents Renta15 pald under opera¢iw lease5 are charged to the Staiement of Financial Activltles on a stralqhl Ilne basls over the period of the lease. Pènsltsn c05t5 and other post-retlrement beneflts Th@ chaAtable company operates a defined contritwtkn renslon scherne. ContrilwtN)ns payable to the charitable companys pen Scheme a tharged to the Statement of FinarKial Actlvltle5 in ihe FETiod to which they relate. Debtor5 Trade and other debtors a recogni5ed at the settlement amount after any trade discount offered. PrepayrrEnt5 are valued at the arnount wepaid net of any rrade discounts due. Cash at bank and In hand Cash al bank and cash in hand Includes cash and stKJrt temi hlghly l¥qvtd fThvestts th a S ty of three trKnth5 or less froffl the date of acqulslllon tx openlng of dep051t or 51mllar account. Credlt•rs and provlslons credito and provisions are recognised where the chadty has a present obligation resultlng from a past event that will probably result In the transfer of funds to a thlrd party and the arrrf)unt ¢Je to settle ihe obll8ation can be measured estimated rellably. Credltors and YoS1On5 are norrnally recognised at thelr set¢lennt amouni after allowing for any trade d15crJnts due. Page 14 Contind...
Th Hereford FL1 Bank OTHER TRADING ACTivrriES 31.12.23 31.12.22 Other TrKome INVWMENT INCOME 31.12.23 31.12.22 De]57t account interest 678 NEf INCOMEIIEXPENDrruREI Nei IncornellexFenditurel Is stated after charslngllciedltSry1.' 31.12.23 31.12.22 Oewcialion - owned assets Other operating lease5 Independent exaMir5 fee5 4,C67 17,535 4,489 12,540 TRusfEES' REMUNERAMON AND BENEFITS There were trustee5' remuatIoTr or other beneflts for the year ended 31 DecernEer 2023 nor for the year ended 31 December 22. Ttee$. expenses There were trustees. expen5e5 paid for the year ended 31 December2023 nor for the year ended 37 December 2022. AFF cosrs The average rwnthly NJmber of emplo*$ durlng the year was as fdlows: 31.12.23 31.12.22 Average staff Mrtor5 No ernployee5 received ern&uts in excess of £60,OJO. Volunteer Staff Volunteer5 Te8ularLy contribute toward5 the provis of the charitys fly parcel semce and the day-to day administration of the charity. but those cos15 are not included in t1 account5. mana ement Renwneratlon for key manaFmtnt fLY the year totalLed £37.81312022: £21,297). Page IS continued...
Hereford Fcth Bank Financla ar Efided 31 Decernr 2023 COhlPARATIVES FOR THE $fATEME1 OF FINANCIAL ACTpimES Unrestricted fund Restricted fund Total fund5 INCOME AND ENDOWMENTS FROAI Donation5 and legacles 301,284 302,328 Charitsble actlvltles Emeryency food parcels 84,824 84,824 Other trading aCtItTe5 Investment income 678 678 Total 387 833 EXPENDITURE ON Charltable activitles E¥ner8ency food parcets 253 338 913 254 251 INCOME 133,451 133,582 RECONCILIAMON OF FUNDS Total funds br(*J8ht forward 250,317 250.317 TOTAL FUNDS CARRIED FCWIARD 383 768 TANGIBLE FIXED ASSErs Improvement5 Plant and machinery lkntor vehlcles Computer equlFrnt operty Totals cosr At 1 January 2ff13 Addftlons 4,805 7,718 470 11,994 1,693 26,210 At 31 December 23 DEPRECIATION At 1 January 2023 Charge for year 935 241 3,5B4 853 633 10,936 Ai 31 December 2023 BOOK VALUE Ai 31 December 2023 3,018 1,261 12,731 Ai 31 December 2022 Pase 16 Contind...
The He Fwd Bank in OCKS 31.12.23 31.12.22 Flnlshed g¢))ds 10. DEBTIJRS: AMCAJNTS FALLING DUE WTfHIN ONE YEAR 31.12.23 31.12.22 Otr debtors Prepayrrents and accrued incorne 5,715 6,033 CREDITORS: AMSXINTS FALLING DUE wmiiN C4E YEAR 31.12.23 31.12.22 Trade creditors Accruals and deferred Incorre 302 1,233 12. LEASING AGREEMEiirs Minirnum lease payThents under non.carKellabie cferating leases fall due as fdlows: 31.12.23 31.12.22 Withln one year Between and five years 10.5LK) 13. IA0VEME1 IN FUNDS Nei movement in funds At 31.12.23 At 1.1.23 Unre5trfcted funJs General fund5 383,768 157,886 541,654 Re5trlcted funds Restdcied fun(ts 131 TOTAL FUNDS 157 755 Page 17 contlnued...
The Hereford F¢yJd Bank Noks to the Fin ial starnents- cOntind for the Year Ended 31 ernber 2( 13. MOVEMENT IN FUNDS. tontlnued Net movernent in fthNJs, iluded sn the at#)ve are as follows: IrKoming rescyjrces Resources expende ement In funds Unre5trfcted fund5 General funds 451,579 1292,693 157,886 Re5trirted funds Restricted fund5 TOTAL FUNDS 450 579 292 8241 Comparatlves for fitfint In fund5 let vement in fund$ At 31.12.22 At 1.1.22 Unresttlct•d funds General funds 250,317 133,451 383,768 Restrlcted funds Re5trirted funds 131 131 TOTAL FUNDS Cornparative net wvement In funds. iKluded in the above are a5 follo%s5: Inc¢minq resources Resource5 expended lknyernent In funds Unrestrlct•d fund5 General funds 386,789 1253,3381 133.451 Restrtcted fun(ts Restricted fund5 19131 131 TOTAL FUNDS 387 833 254 2511 Page 18 ctInued...
The Hweford F¢xJd eaThk io the Flna for ihe Year En tatement5 - contTroJed 31 December 2023 14. EIIPLOYEE BENEFIT C•LIGATIONS During the year. the charity operated a defined contrfbutlc stheme for its offfeers and employee5. The cost for the year Irecogni5ed in the SOFA) wa$ £1.727 12022: £1,134). The ouistanding contributK)ns al the baiarKe sheet date amwnted ro thil12022.. £Nill. 15. RELATED PARTY DISCLOSURES There were no related party transactlorts for year ended 31 t*ceth 2023. Page 19
REGIERED COMPANY NUMBER: CE009433 (England and Wal•sl REGi>fERED CHARITY NUMbER: 1170826 ort of the Trustees and Unaudlted Financial Statements for the Year Ended 31 Decernber 2023 for Th Hereford Food Bank Th)rne Wldgery Accounianry Ltd Chartered AccntaNtS 2 Wyevale BuSiS Pat* Klngs Acre Herefrffd Herefordshire HR4 7BS
Ccntents of the Financial Statement5 Report of tTruStee$ 1 to 9 Inderdent Examfw's Rert 10 StatetrEnt of FInala1 Actlvftfes Balan Sheet 12 Note5 to the FInalfaI Statements 13 to 19 Detalled Staternent of FinarKial ActItieS 20
The Hereford FrJd Bank of the Tr Year Ended for 2023 The trv5tee5 who are also directors of the chartty for the purpxes of the Companle5 Aci 21Th, present thelr report with Ihe financlal 5Latem&nts of the charity for the year ended 31 Decemter 2023. The tru5tee5 have adopted t Pro$10ftS of Accountin8 and Reporting by Charitie$: Staternent of Recommended Praciice applicable io char6ties preparing their aCCJnts in accordarKe wth the Flnancial Rertin6 Standard applicatle In UK and Republic of Ireland IFRS 1021 leffertive 1 January 20191. Foreword to t annual report IL 15 difflcult io remain optimi5Llc when facing the Challenge5 wilh the wdening gap between wage increase5 and nflation. ln HerÈfordshire this 1$ parCUlarlY critical where ihere are 518nificantiy lower 8ross weekly earnln85 alongside Me of the worst leve15 of houslng affordability in West Mldlands region. Over the past ten years there has been a Srowih of over 83% in the demand for Lhe help from the foodbank and in 2023 the food bank produced 2315 emergency food parcets and helped 4,737 people, plu5 over £13,(YJO In vouchers, provrding an estlmated 104,QbJO rneals. However, even these are times of considerable economfc hardship and the nUMr of people that need help is increa$lnB¥ the fcod bank Is managing to atiract rfficient donations and grants ¢0 ensure that this very imwtani Service is well funded and can be 5UStalned for the foreseeable future. Thi5 reflects very positively on the efforts of the management team, the volunteers and trf)ard of trustees, but really dernon5trate5 the tremendw5 5UPWrt frorn the local cornrnunlty who donate huye arrKAmts of ffY)d and considerable sums of money to ensure that food can be put on every table where there is need. But OFeratin8 ihe fwd bank wwl¢Y rK>t p055ible wlthout the fantastic efforts of the food bank'5 voluntews wh) undertake so many tasks from attractfng dDnations at sukwrnarkets, all way through the fd rnanagement process until erner8ency parce15 are delivered to the door. In 2023 ihis arrrfjunted to oyer 7,570 rec(ded h)urs b*ith many rIre going unrecorded. 2023 brought two Sl8nificant chan4es to the management of the fcod bank, our long-stakx11ky4 manager, Jacquie Aiscp. left U5 in February, and one of rw lonse5t 5eMng trustees, Lw Hurds, resigned in Qc¢ober and I would like to ihank tIEm for i year5 of supp)rt, hElplng the frth bank 10 8row to it5 yjccessful t¥)5itlon. Ros•nthal. Chlr of tho Board of TrustB05 EXutfve 5umm4ry Hereford Food Bank Is ccrnmitted to the relief of wverty Ir¢ Hereford5hire and the surrounth.ng area through the wovlskn of emergency fwd parceL% cmtarTring basic nutrltioTral f(Kxts and other ba51c arrETritles. Food Bank Opera princlpally through refeal5 from a8erKles, churehes and certain individuals WTr are aware of the needs of the people are supwrtin8 and belleve that a parcel Is appropriate. The Hereford Fwd Bank Is a Charitable Incorporated Or8anlsatlon ICIOI and wa5 reg15tered by the ChaTity Comm15sion In December 2016, Charity Nurnr 1170826. 2023 was another year of exceptlonally high demand. there the Fwd Bank yjpplled 2,315 food parce15 5UPPCrting 4.TJ7 5n¢Jfvidua15 includlng 1,661 chlldren, plus over C13.(m in food VOLKhers. Jring Ihe Christmas perlod 45 families were supported 1th £5,5CV VOLKhers for food and tOy5y and some seaswal glft5, taknng the total of meals ovlded in 2023 to over lo4.10. Pa8e 1
Hereford Fwd Bank for the Year ETrJ2d 31 December 21r2 0EcTE5 AND ACTIVIMES ObJectlve5 and dirr The object5 of the CIO - as set out In It5 governins thurreTht- are as fdiows:. The relief of poverty In Heref0rdSM and the surrounding area through the provlsion of emergency foDd parcels containing basic [trILlLa1 fLY)ds and other basic arnenities, found& on ihe Chdstlan prtnciple that humanity str1[d 'love your neighbour a5 ywrselr. The property of the CIO shall not be applled for wrp05es lCh are N)t charftabte. Our w51on The provlslon of fd parcets to those reclpfents deemed to be In emergency need arfslng from, for example, horrEtessne55, P5ychiatdc teakdown or delayed beneflt paymenis. We ¢) not ish to create dependerKe and we work on prem15e that the FL¥Jd Bank Is Intended to help indiwdua15 or famllles over t& c$1$ untll they can support themselve5. Our aims and Our maln aim is to c(mtinue to pro¥A¢ food or voucher5 and baC toIlett$ io people In need. To achfeve thls we need a sel of objeciive5 th clear goals. (Xjr objectlves are: To ctsntinue to develop the io provlde a sustalnable source of irKome and rnanaEe exrenditure To vÈLu2 (yjr volunteer base To develop workin8 arrangements other agerKie5 to try to alIeate fotrs wverty ai source and rethce the need for erllergency ald To ensure a safe, hy4ienic working environrnenl To ensure that the 7-day emergency fi)rMI parce15 include healthy and nutriti(5 fwd that peopLe wll eat. A fcKKI parcel for up to a MamuM of 7 days. w the equivalent in fwj vouchers, is wFplied according to need. Referrals come from case worker5, soclal workers, NPIS Staff ar other ageKles and indidal$ and an appropriate frA)d parcel is Prepa. Due to current economlc drcuMstes the Trustees have contlnued to allow Indivtduals WIK) have been experiellclng hardshlp LO obtain an Inltlal f(x)d parcel thOut the need for a referral. The Food Bank also pTorfdes Infomiation to the resSdents of Hereford5hire and the surrgundlnE areas io Inyove understaThJlng of the concept and Impact of rmwerty. The Fujd Bank mainialns good worklng relatlonshlps wlth referring agencie5 and other food providers by attendiny rneetings and dlStritrtlnS infornwtfon abJJt its operali(m on a regular basis. Publk beneflt The charity is a public benefit entiiy. trustees have cornpiied wlih thelr statutory duty io haye due reEard to the gufjdae on public berEflt published by the Charity CommIssn In deciding whal artiwtles the charfty $Id undertake, and how those actiVitS are made avallabie to the wtrAic. The Charit$ maln actfvlty undertaken for the public benefit in relatlon to fts charitable objects durlng the year, was the provi51on of eTner8ency food parcels. These services - in accordance th the charlty'5 cbjecrs . are typically restricd to iK)se iocaW %ithln the cwnty of Herefordshlre and surroundlng areas. This 15 largely for IoElsiical reans. tr¥Jt a150 Lecau5e the trustees believe that the charity Is mring a particular demand for such serv1, which Is not nt by other organiSaLi(S In the area. The seMce5 are free at the point of need, allgh certain 5ervlces are funded by a recharge to the local aLrthorfty, in order to cover the costs of provfding the servi, and Lo rnalntaln quality. Pag 2
The Hereford F¢)Jd Bank rt of the Trustees for the Year Ended 31 December 2023 O&JEcnvES AND AcnvmES Volunteers Volunteer ntstnter remaln hlgh at just over 1, with a regular volunteer base of over 80 w)ple filling the rota supplemented by very flexible and adaptsb(e reserves. A he amount of credll 15 due to people make the organisation work 50 well. day in anil day out. prodIng food to those in need.. the volunteers and the tearn leaders who generously 85ve their tirre to prepare food parcels, receive and g)rt donatbns, collect f[ from superrnarkets and distrfbute to cLlent5. They are an arnar asset to the F<K)d Bank and dumng 2023 volunteers recorded over 7,570 hr$ of work, th certainly many more hjr5 unrecorded. operatlon of this scale. 5upporti so many people and malntalnir4 an essential role thfjn the conYNnity require5 very Competen¢ Frxl Bank Wanager io ensure that both clfjents and referring agencSes can be assured of qU(ar openini j¥S and an efflclent service. A deputy or vdunteer eo-ordinatcrf yjpports the rnaTr48er. and organlses the volunteer roias. In 213. a lob-share was introduced to rnanage the large nurnber of incornlnq telephone referrals. Fo)d donadons We are extremely grateful for the 5UPPDrt reIVed frn the staff and customer5 at Aknrrfson's, Asda, Sain5burfs, C(KJperative Stores, Waitrose. Tesco Bewell Street, Welllngton & Ewyas Harold Post Office and Stores and tnany others in the aiea. MAny of the store5 have thelr own Community Champlons and we would Ilke to Tllention how well they have worked u5 to increase donations and aequire grants. We now undertake regular Focmj Drfve5 at saInbus. Asda and Waltrose 1r volunteers working bith store staff encourage donatioThs of the fcx)d items thal are In Short supply. We would a150 like to extend out thanks to the many clmjrches and thelr parishioners vhh) regularly donate f()d and other housekld itern5, a5 well as gifts of money and bn4 It to the Fo)d Bank. The Hereford communlty 15 amazingly nerOuS and durlng 2023 ha5 thnated a very substantial quantity of f(M)d, estlmated at £87,570 but the continuing high demand Ihr<YJgIut the year ha5 required us to tw conslderable quantitles of ffY)d to supplenThi our supplie5, totalling sorne E53.8k, However, level of finanrial support that we have received ha5 allowed us lo purchase food to wpplement ary shortfalls In dwations and to pmvide fresh ff)d, Incluth"n8 frult and vegetables, In every f¢))d par1. Page 3
The Hereford Fotrj Bank Re rt of the Trustees for the Year Ended 31 Decernber 2023 ACHIEVEMENT AND PERFORhlANCE Charltable actmttes Back round and AchieverreTrts io Date Hereford Food Bank been functioAln8 In forrn or anoiher slnce 2¢M. Originally It the Shape of Cornmunily Larder established by the Churches in klereford Dl((ese ActioTh Team, Whe Individuals having obtained a VOLKher from a recognised Agew could attend fbe Larder and recelye a bag of food whlch would enable ihem to cope wAth their current problern. In February 2013 the Food Bank opened in Aubrey Street and the voucher system was aboltshed. being replaced by System of referra15 frorn agendes and recognlsed IndIdual$. At the end of Z016, Food Bank beearne an inthpEndent registered chart¢y, reFlacing the prevk)u$ operailon under the au[ of the Hereford DiLKe5an Church of En8land Council for Soclal Aid. Following a 5UStained Increase In requests far foJd sup)rt, the prerni ai Aubrey Street became small and a rfKsve wa5 rnade to a larger unit In MQnkrfk Street in 2019. The FOLXJ Bank has transfornEd itself over the past ftw years, initially in re5pMse io ihe Cod-19 pandemk followed by the tost of lin8 Cri515 anL1 Is now able lo effertlvely utilise rerrK)te wothlng and with a substantlal lfitrease In volunteer nurnbers can rapidly re5wnd ro peaks in demand. mma of the ars activitie5 In her foreword, the Kgme Rosenthal mentlowl that a change of manager had taken place early In 2023, aThJ we are extremely fortunate that the new rnana8er, Helen Parker. has very 5ucce55fully taken on the leadership r£Ae and alded by wr volunteers has Èeen driving a number of changes and Imwovement5 thTOU8hout the year. The core aCtity of the Food Bank Is to Supply emer8ency food parce15 - and In 2023 an impressive nurnber of 2,315 were picked, patked. aThJ provided to a total of 4,737 people. Our 3-day erreryency f(h)d boxe5 aye continuing to be very useful and in 2023 50 were supplied to other ageIe5 and bodles across aty. These are partiClarlY helpful at weekend5, when many agencles are rKJt woting and Wre the Fwd Bank 15 rK)t open efther. We are rM)w regularly proding f¢)od vouchers which we offer In speciflc clrcunKtances and can be used to purihase food and other itern5 ai supermarkets which allows us nKJre flexibility In pIng reduce f(x)d rM)verty. We a150 occasionally use vouchers allow families in temp)rary acc(Knmodation to buy a h)t meal. Eath year we try to lrnprove operatlon. and In 2023 we have establtshed a serwice with the Citizen5 Advice kneau ere we can directly refer people for SUPFQrt If Ihey are eXperfeIng a fInala1 cri515. In addilion, we have intmduced a vowher arrangernent vAth the LIn9 Room where vouchers are glven eItr for hot f(N)d or for their weekly E5 'shop', and we also refer some people to The Livlng RLXJrn for thelr rtfjage service. where they e5Labli5h whlch a8encle5 a cliwt should approach for Pdp and adCe. Further Initiatives In 2023 include the estatllshrnent of a Fwd Task Force wl¥) reW the fwd items in a food parcel to maintain a leyel of nuirftlon as well as belng accePbIe and one of the volunteers has even written a F(x)d Bank Cookbwk which use many of the food items found In a parcel. We are also rnakI use of an app called Bank The Fwd thith allows the frJd bank io comrnunlca with YJPFKJrters in the Hereford area and let them krnw the iiems are n&t needed as they entered a 5upemaet. s a result of a reduciion ln dDnatlons of food, a team of xjpemiarket collectors has been establisw lor re-e5tabllshed, slnce thls t&ik place before Ihe Covld pandemKI. TW have en very yJcce$51ul and with the help of the supwmarket tommunlty champions In Sainsburys, Asda and Waitr05e and of course the Ial communlty, thls has resulted in many filled trollie5 of fl. Flnally, we made some significant change5 to the way we help people thring tIE Chri5trnas period, by adding all the festive donations our regular fwd parcels. but in addition providing voucher5 for fwd and toy$ 10 45 famllles wlK were considered to need extra wprAYi. Th15 allowed u5 to help nTh)re people while carryln8 Out our nomial fc)d dIstrttiOTh from Monkrnoor Street. Page 4
The Hereford Fwd Bank Re rt of the Twstee5 for the Year Ended 31 December 2023 ACHIEVEME1 PERFORMANCE Reelplents of Food fn 2023 In 2023 the F(x)d Bank supplied 2,315 f(kid parcels supFortfng 4,737 indivithjals, Including 1,661 children, which represents nearly 1,lKmj me)&. A further £8.370 of wppcrt was pded In the form of vouchers. Dut1ng the Christrna5 perkwj an additlonal 45 farnllies recÈlveé Chrf5tmas parcels contalnlng w'ft5 and toiletries and mo importantly vouchers for focxj: 8ee$, fts5h rneat and frult and vegetables as well a5 vouchers for loy5 or £ifls. The graFth telow derrL)nstrale5 a patM of demand where there is the greatest need du4 the wSnter rnonths when heating costs are high and sea50rtal work is Ilm1. As in preious ar%, demand ded in the suMr monih$, peeple receiing Unlyersal Credit or other beneftts were 8lven a specltl cost of living payment and It 15 Eeiieved that thls. In addition to 50rne of the schotsl FK)Ilday rneal clubs, reduced the demaTrJ for fcJd parcels. A further cost of livlnE payrrEnt was awarded in November, and this 15 also reflected in lower Lknwnd. ernphasi5ing that peiple generally do Use the food bank unle55 tw are experfeIng genuine hardship. 2019. Food P•r(DI1huOn Nth•fFQ9ir<¥ktsylh To put th15 into perspective the graph below IIIustrate5 the pa5l five years: numbers of food partr15 yjpplled are In blue, the nurnber of a¢JJlts 5UPkX)rted in red, and chlldren PrXjrted irs green, aThY the th)tted Ilne 51x)ws the trend. This really derrKJnstrates unpredictability of the demand for our 5eTwces but illustrates that the trend remains on a rapld irKrea5e. It is diffKult to make cornparlson5 LEtweeTr tIE years there remains an underlying trend of IrKreased fcx)d [vertY with the greatest spike5 being caused by ¢Jlflicultie5 belng experienced in the mosi severe waves of the Covid parthmic and more recently durlng winter months, alrntsst eertalnly linked the cost of heating. Food Dlstrlbutlon by Month 2019-2023 Page 5
The H ford Fd Bank ortoftheT for the Year Ended 31 Decethr 2023 ACHIEVEMENT AND PERFORMANCE The reaxins why people need help from the Feod Bank contlnued to mnllored. Thi5 slw)ws ihat the wst Slgnlfkant issue continues io te problern5 Wlth debt, bwing or ernployrrtht. lJiiiEles ¢nVdEklbutin8 twdlsatsil yttèd The flnal graph below indlcates the people and agerKles who refer clients to the Food Bank From 2ff21 the Trustees allowed the F(x)d Bank to ateepi referra15 from individua15 on a one-off basis, rather than via the rnrmal rte of agencle5. Currently an Initial parcel 15 awarded ¥th any yjbsequent requests bein4 inle4 to go the referral rwte where the pers should 8et a5515tae with their crisls. 2023. Sourceg of Referrnl Eé4th7ty Jrbcqntfe ILA The statlstlcs are Uja Tr()nthLy to slv)w emer8in4 trend5 and to try to predlct futwe demand for the se¢vke. As menLioned pmiously, in ter1Th clrcurnstarKes food v(Alcr5 are Proded, which can be Used to purchase forJ and Ot iiems at yjperrnarkets, including hot meals. which allows us rnore flexlblllly In helping to reduce It1 verty. Th15 15 parttularly helpful for people who a In temwrary accommodatlon with little ablllly to prepare fwd. In 2023 vouck*rs to the tal of £8.370 were Issued, a significan¢ Increase from 2022 where a total of £2,980 of chers were issued. The Food Bank worked on thi5 methooÈ of SUPPJTt with a national affiliatlon of Food Eanks and ha5 looked carefully at the methods In use by other F£wJd nkS to establish what works well before adopting this in Hereford. The Food Bank continued to rk with several I(1 grp5 who provlde f<)od ald wlthln Hereford and where stocks have allowed, have WFed Ihern by yjpplwng baslc food itern5 such as pasta, bean5, soup, and tnd tomat£E5 for them to é1strltrAJte to thelr cllents. These groups are cornmunlty based and rnake a very valuable contributlon by provi<lSng a dirert channel from the short.llfe dated f(xJd from superrnarkets to the public. Page 6
The Hereford F¢)Jd Bank he Trustees for the Year E 31 December 223 ACHIEVEMENT AND PERFORIiINCE Donatlons and Grants In 2023 The Fl Bank has alway5 teen well 5UPPOrted by the local c0rnrntIty tyjt frorn the onset of the pandernlc the response from IndidUal5, churches and local or8anlsatlons ha5 been truly amazing and th15 year grants arKI donatlons have arjnted to £184,666. Thi5 includes donations from ihe publlc Trria Sleward5hipi Facebwk and Give a5 You Live of £12,377 and Is In addit1 to donations of fresh Prthle and tinned good5 valued at £87,570. A large of (k)nations are re[wed aN)nyrnou51yJ some f sl8Thlflcant alniS, and the Fcrfyj Bank would like to take thls opportunity to acknwled8e arKI thank all people who 5UPPJrt its work. It is also very pleasing that a number of our donor5 are re8i5lered for Gift Aid. which added £13,209 in 2023. The Trustees would like to acknowledge and to thank the followtre organtsatlons for their yJp5YJrt in 2023, bjt there are rnany re indlviduals and oryani5ations who have supported us. some of whom have queSted to remaln anonyTllou5: The Alan Brallsford Trttyt £12,¢JlO Hereford Round Tatle £2,018 St Fra15 Xavier £3,103 Vennture £2.10B Weobley & StatOn Chjrches £933 Hereford Lion5 £1,750 Key Sy5terns £1,5CIJ Avarra Foods £1,820 Connexus £3.320 Lugwardine Charity £1,IX Rathtrle ra1 Aid FwNla15on C1Z, Belrnoryt Pash C1,LlXI Ailpay £1,(XKI The Grace Trust Hereford Home for ihe Inflmi Mumford erIal Charity Citizen Housin8 Fluldm35ter GB £i,Ic £10,( £3,(XXI £1,2 FINANCIAL REVIEW Ffnanclal position The Hereford Food Bank agaln benefitted frorn rhe outsranthng generosity from the publlc and ihls enabled If to prowde I to Feopie In need throughout the year. The level of donaUon5 remalned alrrrf)st the fr( 1186k In 2022 to £185k In 2023, eontlnulng to reflect public concern aut the Significant Increases in the cosi of livirv4 a&érsÈly affecting the p)orest members of the c¢)rnrnunity. At the start of the year, tlwe wa5 an opening balan of C325k held in two accounts: the Charlties Aid Fcwndation arKJ the laonrnoulhshire Bulldlng Soclety, two further actounts were set up (knng the year. Incorne increased substantially in 2023 to É357k, whlch fncluded É155k from the Govemment WseFKJld prt Fund. The ger0$1[Y of the IrKai community and businesses rertialned outstanthng at over £184k. In consequence the F(K>d Bank had a cL05in8 bank balaKe at the end of Lhe year of É476k, which was a very sat15factory wxition. Of thls. the trlee5 have now set aside É60k as a general reserve. (Trerall. thls placed the Frd Bank In an excellent position for yjpwrtlng people In need throughout 2024. Prindpal fundlng sources sIn the charity wa5 established a5 an in&Fendent entity In 2016. level of donations frorn individua15J group5 and ILKal bu5irEsses has Increased stead11y, and In 2023, In respmse to the concerns over the cost of liwng thi5 increased 10 £184,666, an additional £155,6 from the Governnt Household SuppK)rt Fund administered by Herefordshire County Courtll Thls dernonstrate5 the gener05tiy of local pEople and buslnesses and thÈlr strong supwrt for the Fcx)d Bank. from local thurches remalns Imw)rtant th reBular ¢Jonatlons of morey and ffyxl, wlth several ct)ngregations ncluding Sl Francls Xavfer, Belmont Parish, Weobley and Staunton churche5 contrityjtlng very slgniflcant aruniS of ney. s in the prevlous year, the Trustees reCernnded that grants were Th)t actively sought in 2023, however, Several yjbstantial grant5 were very gratefully received, iluding the hmjmford Wemorial Trust, The Alan Brailsford Trust. Hereford Round Table, Hereford Lion5. Key System5. Avarra FIS, Connexu5. The Lugwardine Charity Allpay, The Rathine Moral Aid Foundatlon, Cltlzen Housingj The Grace Trust, Vennture, Hereford Horre f¢x the Infirm and Fluidmaster. We are also very gratefvl for the huge arwunt of donation5 rettived directly from local peoAe, many of whom aU>w us to recover Glft Ald, and ITh 23 we reclaimed £13.209. Page 7
The Here Bank for the Year Ended mber 2023 FINANCIAL REVIEW Reserves pollty The trustee$ rewew the re5erve5 polky anuallY1 Iri tIE light of future plans, and on the basfs of the rrK>St recent accounts informatSon. They aim to maintain a level of re5erve5 sufficient to ènable the charity to take advantage of new opportunltles, and to cover the expected and unexpected c05t5 of wrsuing 1¢$ objectives thjrlng period5 of reduced fuThJlng. Due to the current ecommlc UertaIntie5. the trustees consider that required reserves level Sh1 be between 6 and 9 months of normal expenditure. In addltloTh to thi5, the trusiee5 airn to rnaintain a re5er¥e of £60,CO) to cover the eharlty'5 liabilitie5 that would arise if it were to cease io ¢)perate. At 31 December 2023, the charitws unre5trirted reserves stood ai £541,65412022: £383,708), whlch wa5 equlvalent to 22 rrK>nth512022:18 monihl of normal exFendlture. Th1$ is in excess of required level, and the trustee5 wll take steps to redLKe tIE aUnt durfng the ne financlal year. At the year end there was restricted reserves of £13112022.. £1311. FufuRE PLAN5 The char5ly will continue to work towards it'5 and oblectlyes. STRUCTURE, GOVERNANCE AND AIANAGEMENT GtsverniTrg document The charity was e51abli5hed as a Charltable Incorwrated Organlsation ICIOI on 13tkcember 2016 and 1$ govemed by Its constitution I3nded 22 October 20191. ReCrtment and appolntment of new trustees Appolntrnenl of trustees is by majority election of board of trustees in 8ereral sessi1. Nthy tNstees under go forrnal IndKiion proce55 durng which they are glvem a broad out11 of the charitys pollcles and pr{1¥e$. TW are also glven a copy of the charitys cdn$¢i¢ution land any amendtnent5 rna& to 111. artd a copy of its latert annual report and statement of acctxjnts. Tlw are expected to famlllarf them Selves with details of formal trustee responsibllltle5 as laid down in charfty law. Under Ihe charitls CotItUtional provisions, trustees serve f¢x a rnaxirn period of three years, after which time tw cease to IvAd office, but may be reappoirtted by the board of trustees at a 5ubsequeTrt gera1 ThtIng. Organlsatlonal structure The trustee5 exercise overall control of the or8anisatlon ihrLwJgh attendance at wular rnanagement tearn wtlnqs. trustees employ a Manager and a Deputy Manager for the Food Bank, who cwtrol the day-to-day operatlon5. A managernent tearn, which fjncludes four cf the Trustee5, meet resularty throhoul the year. REFERENCE AND ADA4lN1RATrVE DEfAILS gi5tered Company number CE(M19433 (England and Wale51 Reglstered Charlty nUmr 1170826 Reglstered office 41 nkrn0r Streei Hereford HRI 2DX Tru5t••5 M Rosenthal Ichairl G Mi115 (resigned 20.4.241 P E King (resigned 16.1.241 M J Wllkln50n FCJO L Hltrds H Stephens laprx)Inted 2.11.231 S Ewdrt laprAJlnted 2.11.231 Page 8
The Hereford F Bank rtoftheT he Year Ended 3t Decernber 2023 REFERENCE AND ADAlINIRATrvE DLs Independtrnt Examlner Thorne Widgery AccnrKY Lid Chartered Accountant5 2 Wyevale Buslness Park Klngs Acre Hereford Herefordshire HR4 7BS Bonktr CAF Bank Ltd 25 Klngs Hill Avenue King5 Hlll West Malllns ME19 4JQ Monmouth5hire &Jildlng Soclety John Fr05t Square Newport NP20 1PX oved by order of the board of trustees on.... .. - al signed on Its behalf by.. M Rosenthal . Tnjsteè Pase 9
Ind endent ExamirEr's Hereford Food Bank theT ees of Independert examlner'$ report to the tru5tee5 of The Hereford Food Bank I'the CompanYI I rewrt to the charity trustees on my exarnination of ihe accounts of the Company for the year ended 31 Decernter 2023. Respo11b1IItIes and basls tsf roport A5 the chartils rru5tees of the Company land also Its dlrectots for the purposes of company lawl yw are re5wnsibie for preparatlon of the cOUnts In actordarte the requirements of the Companles Att 20c61.the 2006 Act'i. Hawng 5at15fied myself that the aCcntS of the Company are Th)t re(WI to be audited urKler Part 16 of the 2or6 Act and a ellglble for Independent exarnlnatlon, I rewrt In respect of my examlnat1on of your charity's accwnts as carried out under Sectlon 145 of the Charftle5 Act 2011 1 the 2011 Act'l. In carylng txjt my exarnination I have followed the Directions glven by the Cknaty Commission under Section 145151 Ibl of the 2011 Aci. Independent exaMIr'S statemènt SiKe your tharlty's gross Ineome exceeded E250,Cfl) your exarnIrr must be a member of a listed trty. I can conflrm that l arn quallfled to undertake the exarnination aUSe l am a member of A550ciation of Chartered Certlfled Accwniant5. TrNhich 15 one of the listed iodles. I have completed rny exarninatlon. I conf5rm that Th) matters have corrE to my attentlon In ¢onrrtion writh the examination wing m2 cause to belleve: accounting record5 were not kept in re5t of the Company as rewlred by Sectlon 386 of the 2(lJ& Act. or the accounts %? not accord wth those records.. or the &tounts do not comply wlth the accountir¢g requlrements of Sectkn 396 of the Act other than any requlremeni that the accounts gfve a true and fair vkw whlch Is not a matter considered as part of an Independent examlnatlon. or the accoun15 have not been prepared in accorda¢ wlth the method5 and principles of the Staiement of Recomnnded Practice for accounting and rewtlng by charit2es lappllcable to charfties preparing thelr account5 in accordance wth the Flnancial RepDrtlw Standard applicable In the UK and Republic of Ireland IFRS 10211. I have no corKern5 and have corne acr055 rK> other matters in connection examlnation to which attentk)n shId be drawn In ihl$ rep)rt In order to enable a proper unstanthn8 of the account5 to be reached. Lisa Weaver FCCA The ASSlatIOn of Chartered Certified Accountants Thorne Widgery AccountarKy Ltd Chartered AccountaTrts 2 Wyevale SInesS Park Klngs Acre Hereford Hereford5hire HR4 7BS Oate.. Page 10
The Herèford Fcod Bank Statement of Financial Aetivitie5 lor the Year End 31 DecemLEr 2023 31.12.23 Total fund5 31.12.22 Total fund5 Unrestslcted fund Restr[cd fund Notes INCOME AND ENDOWAIEirfs FROAI Donations and legacie5 285,446 285,446 302,328 Charftablè actMtle5 ErrErgery f(¥)d parcels 158,441 158.441 84,824 Other trad(As actiwties Inve5tnEnt i0 6n Totsl 387 833 EXPENDITURE ON Charltablo actfvltles EnErgenty food parcels 292 693 NET INCOIAEIIEXPENDrruREI 157,886 157,755 133,582 PECQNCILIATION OF FUNDS Total fund5 brJght forward 383,768 383,899 250,317 TOTAL FUNDS CARRIED FORWARD 383 899 The [te$ form part of these finaroal statements Pa8e11
31.12.23 Total fund5 31.12.22 Total fund5 Unrestricted fund Re5tr(cted fund Notes FIXED ASSETS Tangible a5set5 12,731 12,731 15,274 CURRENT ASS Stocks Deblor5 Cash ai bank and In hand 44.481 6,929 44,481 6,929 37,715 8,238 10 531,140 531,140 371,688 CREDoR$ ArnLwJnts falling due within one year 12,2171 12.2171 13,C631 NET CURRENT ASSErs TOTAL AssEfs LESS CURREtrff LIABILITIES 541,654 541,654 383,899 Nrr ASSETS 383,899 FUNDS Unrestrirted funds Restricted fvnds 13 541,654 383,768 TOTAL FUNDS The chatsb[e company is entitled to exemption from audlt under Section 477 of the CThnpanies Act 2W6 f¢x the year ended 31 Decernber 2023. The members have rKJt required ttr cornpany io obtain an audit of Ils financial statemenis for the year ended 31 December 2023 In accordance with Section 476 of Companles Act 2006. trustees knoWle(lIe their re5wnsibilities for ensuring that the chatable company keeps acctyJntln8 record5 that corfy th Sectlons 386 and 387 of the Companies Act 21KJ6 and prepartng fInanda(5tateEnts which glve a true and fair of ihe state of affalrs of the charftsble cornpany as at the end of each finarKiat year and of lis surplu5 or def1cii for each flnancial year In accordance wlth the requirements of 5ecllon5 394 and 395 and which othemse comply wl¢h the requirerfnl5 of the Companie5 l relating to flnanclal staternents. 50 far as appllcable to the charttable COnY. These financial statements haye been prepared in accordance wlth the prO510n$ applkable to charltable companies subject the small companles regime. lal The financlal tern Is were approved by the Board of Trustees and auihorised for issue on JIÉ ftylLfr . and were 51gned on its behalf by.. M Rosenihal - TrUse The rK)tes form part of these flnanclal staterrEnts Page12
The Hereford F( Bank es to the FInar7 tements for the Yèar En 31 Decemitr 2023 ACCCiltrmNG POLICIES 8asi5 of preparlry the flnanclal statements The fitlancial Statements of the charltable company, whlch Is a public benent entliy under FRS 102. have FEen prepared in accordance ¥th the Charttle5 SORP IFRS 1021 kcounting and ReForting by Charitles.. Statement of Recomended Practlce appllcable to chatreS preparin8 their accounts In accorthn¢e th the Financial Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191., Financlal Rep)rtlng Standard 102 Tr Flnanaal Reporting Standard applicable in the UK and Republic of Ireland. and the Companie5 Act 2LKKJ. The financial statements have been prepared hlstorical c05t conVentc. r)In8 Concern The trustees assess Whet the use of goirvx concern ts approprlate l.e. ther there are any rnaterial unrtaInlIes related to events or conditlons ihai may casi slgnificant doubt on the abillty of the cornpany to conlinue as a golng concern. The trustees make thls assessment In respert of a perfod of at least cne year from the date of aUtnSatIOn for 5ssve of the flnancial staterwts and have cancluded that the company has adequate regources to contirKJe in 0rational exlsiente for the foreseeable future and there are no material urKertaintles about the charity's ability io continu2 a5 a going concern, thus tlw contiNJe to adopt the golng corKern basis of accounti in preparin8 the fsnancial statements. Income Ail incorne is recognlsed in the Staternent of Flnanclal Actl¥Atles once t1 charity ha5 entitIent to the fund5, it 15 probable that the Incon 11 be recefved and the amwnt can be aSured iellably. Gifts in kind a Included at a reasonable estimate of thelr value to the eharfty. or the amount realised. They are included in the 50FA when recelvabie. Donated semces and facilitie5 are Included In fncomlns resources Iwtth an equivalent entry to res1£e5 expended), where the benefit to the charity 15 rea$ablY quantlflable, nasu¥able, and mterfal. The aThyJni recorded 15 the estlmated vhlue to the chariiy of the Seth or facillty received. The value Df volunteer help received 15 not included in accounts, It Is descrftkd In the irusiees. annual report, where material. Investment IntorrE 15 Included fn the SOFA vlhen recelvable. Expendlture Liabllltles are recognised a5 expendlture as sD a5 there 15 a legal or con5trLKlive 078ation committin8 the chatY that expenditure. it Is probable that a transfer of economic befIts TrMII be Tequlred fn settlerrEnl and the ann¢ of the obligatkn can be rrEasured reliably. Expendlture Is accoun for on an acErua15 basls and has been clas51fled undeT ading5 that aggregate all cost related to the category. Where costs cannot dlrettly atEjted to particular headings they have been altocated to aetlwtie5 on a ba515 con51Stent the se of resourw. T4n8lbl• fixed a55ets Flxed assets are initlally recorded at C05t. and capltallsed where cost exceeds £1CO and the asset 15 exFected to provide an ecommic benefit beYd one accounling per¥)d. Flxèd asts lothw than those held for investment wrp05e51, are shown after maklng deductlons for aeturnulated depreciatlon and Impairrnent provi5ion5. Residual value5 are assessed at eThl of each accovniin8 per¥LKI, and assets are reviewed on an annval ba51$ for any itKJkators of irnpairment. Depreciatlon Is calculated so as to wrlte off the cost of an a$5et Ilw its estirnated residual value), over the useful eCOrMIC life of asset. No deprecialTron 15 char8ed in the year of dlsposal. The rate5 used were as follows.'- . Leasehold proFerty . ewal Instalnnts over the perfod of the lea. • Motor vehlcle - 25% reduclng balance. Plant and machinery - 20% siralght line. Computer equipment- 33% strai4ht line. Page 13 continued...
Fo)d Bank ACCOUNTING POLICIES - contlnuod Stocks StrkS are Val at the lower of c05t arKI net reallsatle Yalue, afr rning due allowance for obsolete and slow rnoving Items. Purchased stock is valued at cost, after maklnB du2 allowarKe for obsolete and siow-rrKMns items. Cost 15 calculated uslng the fir5t.in, fir5t.ou¢ basis of valuaiion. Donated sto¢k is grouped accor¢thn8 to prLhJuct type, and valued ai an estirnate of the average unlt t05t that wauld have been incurreo by the oryani5alion If it had purchased those good5 Itself. Taxatlon The charity Is eXet from corpjratbjn tsx on its charltable attlties. Fund accountlng Unrestrtied fund5 can be used in accordaKe the charftable objectives at the dlscreiion of the trustees. Rettrlcted fund5 can only be used for partlcular Te5tricted purFeS wlthin the object5 of the charlty. Restrictions arise when SlfIed by the dorKY or when funds a raised for particular restrfcted purp05e5. Further explaTrat(on of nature and wrpose of each fjjnd Is Included in the notes to the financlal 5taterrEnts. Leaslng commltrnents Renta15 pald under opera¢iw lease5 are charged to the Staiement of Financial Activltles on a stralqhl Ilne basls over the period of the lease. Pènsltsn c05t5 and other post-retlrement beneflts Th@ chaAtable company operates a defined contritwtkn renslon scherne. ContrilwtN)ns payable to the charitable companys pen Scheme a tharged to the Statement of FinarKial Actlvltle5 in ihe FETiod to which they relate. Debtor5 Trade and other debtors a recogni5ed at the settlement amount after any trade discount offered. PrepayrrEnt5 are valued at the arnount wepaid net of any rrade discounts due. Cash at bank and In hand Cash al bank and cash in hand Includes cash and stKJrt temi hlghly l¥qvtd fThvestts th a S ty of three trKnth5 or less froffl the date of acqulslllon tx openlng of dep051t or 51mllar account. Credlt•rs and provlslons credito and provisions are recognised where the chadty has a present obligation resultlng from a past event that will probably result In the transfer of funds to a thlrd party and the arrrf)unt ¢Je to settle ihe obll8ation can be measured estimated rellably. Credltors and YoS1On5 are norrnally recognised at thelr set¢lennt amouni after allowing for any trade d15crJnts due. Page 14 Contind...
Th Hereford FL1 Bank OTHER TRADING ACTivrriES 31.12.23 31.12.22 Other TrKome INVWMENT INCOME 31.12.23 31.12.22 De]57t account interest 678 NEf INCOMEIIEXPENDrruREI Nei IncornellexFenditurel Is stated after charslngllciedltSry1.' 31.12.23 31.12.22 Oewcialion - owned assets Other operating lease5 Independent exaMir5 fee5 4,C67 17,535 4,489 12,540 TRusfEES' REMUNERAMON AND BENEFITS There were trustee5' remuatIoTr or other beneflts for the year ended 31 DecernEer 2023 nor for the year ended 31 December 22. Ttee$. expenses There were trustees. expen5e5 paid for the year ended 31 December2023 nor for the year ended 37 December 2022. AFF cosrs The average rwnthly NJmber of emplo*$ durlng the year was as fdlows: 31.12.23 31.12.22 Average staff Mrtor5 No ernployee5 received ern&uts in excess of £60,OJO. Volunteer Staff Volunteer5 Te8ularLy contribute toward5 the provis of the charitys fly parcel semce and the day-to day administration of the charity. but those cos15 are not included in t1 account5. mana ement Renwneratlon for key manaFmtnt fLY the year totalLed £37.81312022: £21,297). Page IS continued...
Hereford Fcth Bank Financla ar Efided 31 Decernr 2023 COhlPARATIVES FOR THE $fATEME1 OF FINANCIAL ACTpimES Unrestricted fund Restricted fund Total fund5 INCOME AND ENDOWMENTS FROAI Donation5 and legacles 301,284 302,328 Charitsble actlvltles Emeryency food parcels 84,824 84,824 Other trading aCtItTe5 Investment income 678 678 Total 387 833 EXPENDITURE ON Charltable activitles E¥ner8ency food parcets 253 338 913 254 251 INCOME 133,451 133,582 RECONCILIAMON OF FUNDS Total funds br(*J8ht forward 250,317 250.317 TOTAL FUNDS CARRIED FCWIARD 383 768 TANGIBLE FIXED ASSErs Improvement5 Plant and machinery lkntor vehlcles Computer equlFrnt operty Totals cosr At 1 January 2ff13 Addftlons 4,805 7,718 470 11,994 1,693 26,210 At 31 December 23 DEPRECIATION At 1 January 2023 Charge for year 935 241 3,5B4 853 633 10,936 Ai 31 December 2023 BOOK VALUE Ai 31 December 2023 3,018 1,261 12,731 Ai 31 December 2022 Pase 16 Contind...
The He Fwd Bank in OCKS 31.12.23 31.12.22 Flnlshed g¢))ds 10. DEBTIJRS: AMCAJNTS FALLING DUE WTfHIN ONE YEAR 31.12.23 31.12.22 Otr debtors Prepayrrents and accrued incorne 5,715 6,033 CREDITORS: AMSXINTS FALLING DUE wmiiN C4E YEAR 31.12.23 31.12.22 Trade creditors Accruals and deferred Incorre 302 1,233 12. LEASING AGREEMEiirs Minirnum lease payThents under non.carKellabie cferating leases fall due as fdlows: 31.12.23 31.12.22 Withln one year Between and five years 10.5LK) 13. IA0VEME1 IN FUNDS Nei movement in funds At 31.12.23 At 1.1.23 Unre5trfcted funJs General fund5 383,768 157,886 541,654 Re5trlcted funds Restdcied fun(ts 131 TOTAL FUNDS 157 755 Page 17 contlnued...
The Hereford F¢yJd Bank Noks to the Fin ial starnents- cOntind for the Year Ended 31 ernber 2( 13. MOVEMENT IN FUNDS. tontlnued Net movernent in fthNJs, iluded sn the at#)ve are as follows: IrKoming rescyjrces Resources expende ement In funds Unre5trfcted fund5 General funds 451,579 1292,693 157,886 Re5trirted funds Restricted fund5 TOTAL FUNDS 450 579 292 8241 Comparatlves for fitfint In fund5 let vement in fund$ At 31.12.22 At 1.1.22 Unresttlct•d funds General funds 250,317 133,451 383,768 Restrlcted funds Re5trirted funds 131 131 TOTAL FUNDS Cornparative net wvement In funds. iKluded in the above are a5 follo%s5: Inc¢minq resources Resource5 expended lknyernent In funds Unrestrlct•d fund5 General funds 386,789 1253,3381 133.451 Restrtcted fun(ts Restricted fund5 19131 131 TOTAL FUNDS 387 833 254 2511 Page 18 ctInued...
The Hweford F¢xJd eaThk io the Flna for ihe Year En tatement5 - contTroJed 31 December 2023 14. EIIPLOYEE BENEFIT C•LIGATIONS During the year. the charity operated a defined contrfbutlc stheme for its offfeers and employee5. The cost for the year Irecogni5ed in the SOFA) wa$ £1.727 12022: £1,134). The ouistanding contributK)ns al the baiarKe sheet date amwnted ro thil12022.. £Nill. 15. RELATED PARTY DISCLOSURES There were no related party transactlorts for year ended 31 t*ceth 2023. Page 19
ro Aut
N4 FBS
recessary of Tht Heie'cfd
Frx)Y 8or4 lINlI] t4ieTrents for the J1 Dp(ffrthr 2023. Tlv iD¢ILthJ Iye
- TP CIO hit any •¢fvir
Je tArontoes b¢h&ll ol, •rettm Lfj l clalms - We its all Cl% thth Illlq•rfw thèi have bterth. < aft io bt. rffelved miiters. as WLythtè. ha bethi proFerly ats¢lo kn the firwKknI L•ws ¥¥J r•w14tlthis 16 dI((d to ytyj all ifyst•rftt cl t4thce ot th l•w% and l?, Arf•ied p•rry relaiirithW arwwtsltly IvkirKlal stnttfTntl Vlp #bd3 tts •ll reierfr CUKvnlrw4 ldthi1 Ind are rV. 4war¢ of Otw rele th%(lowr yn Irj %h l¢N
- l t1 Ihe CKJ'g IllrKl st4twrti te contern tre
Ehbt (wrenl arKI fu¢iWf >yx¢es ol IthY.Th ty YJppNt 11 br •&wte lof the c,$
¢1 ryw'jts ft¢m the tlai¢ 01 •pytyiI tinnrthi &tAtemli We
beIrt t1 dlf
w. TPwe ¥tln irrns or tsl ihe 4Wk•¢ l•llMdty si•x¢J ¢1 t•Mrii d liu¢S oi TP Fwd tyk