Charity number: 1179092
Meals & More
Unaudited
Trustees' Report and Financial Statements
For the Year Ended 30 June 2021
Meals & More
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Chair's Statement | 2 |
| Trustees' Report | 3 - 10 |
| Independent Examiner's Report | 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 - 21 |
Meals & More
Reference and administrative details of the Charity, its Trustees and Advisers For the Year Ended 30 June 2021
Trustees
Katherine Ann Woodhouse, Chair Kevin Timothy Coles (resigned 7 March 2021) James Paul Mannering Helen Margaret Evans Barry Bolton - Laura Wyatt Smith (appointed 26 May 2021)
Charity registered number
1179092
Principal office
Enterprise House, Nicholas Road Eureka Science Park Ashford Kent TN25 4AG
Accountants
Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
Meals & More Chalrman's Ststement For the Y•ar Ended 30 June 2021 For Meals & More, as for so nY other people. the disTuption and challenges that were seen in 2020, due to the global pandemic, continued wdl into 2021. These have had a direct and significant itnpact on both our charitable acttvities and those of our delivery patthers. Desptte these challenges, l am proud to say that Meals & More has now suptx)rted more than 1.000.000 meals for the most vulnerable children, since 2016. This is a significant milestone. but there still remains much to do. Meals & More witnessed increased demand during 2021, whith sadty refiects the sitU8tion fell by many families, local communities and espeallY children. Our delivery partne rtainlY rose to this challenge. Through them we were able to support 685.000 meals. in the financial year end 30 June 2021. In the first part of the year, we saw eXptiOnal meal numbers being provided by our delivery pathers in all regions of the UK. With the pandemic still prevalenL some clubs were nol able to operate fully and continued to provide either fixjd parcels or packed meals wÉth a rallge of activity packs and online engagement Irito the summer. delivery partners were able to open club5 rnore, but many still rnaintainwj a food parc*l provision. The issue of holiday hunger continues to be high profile and the work that Meals & More does alongside other organisations with similar pufj)oses has remained in the public spotlight and consciousness. The challenge for the Trustees in the coming years is how best to build on this profile to enab Meals & More to support more vulnerable thihlren and their familie& Although the last year has seen the issue of holiday hungei being htgh profile. there are still millions of children who fall beiween the gap behmeen free school meals and other govemtnent SUPFX)rt programmes and the food Fxiverty line. This area is now a key for Meals & More. Going foThvard we want to help enable our delivery partners lo continue to support rr¥)re of those children and their families. We are moving into a period of change now- as a nation and as a chanty. We are seeing oui delivery partners building on their eXperienS throughout the pandemic and are continuing with the best practices that they deVelod. This includes the use of focAI PalS and rneal kits to reach more children. We will continue to support and encourage them to do this and to retum to other fonS of delivery as much as possible. While focNY parlS have been a necessary tool over through the pandemic, and will continue to be necessarily. we also know that a holiday dub environffEnt provides a lot of addibonal benefits to children and their local cornmuntlies. other than just f(x)d. To all our supporters. I would personally like to Ihank you for your continued support through this year. You have been an integral part of this joumey and. wthout you. none of vthat we've achieved would have been possible. Katherine Ann W¢)odhouse, Chairnian Date.. 211212021 Page 2
Meals & More
Trustees' Report For the Year Ended 30 June 2021
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 July 2020 to 30 June 2021.
Objectives and activities
a. Policies and objectives
Meals & More provides support to children and their families who live with poverty and social isolation and have limited access to adequate food provision and activity throughout school holiday periods. Meals & More’s vision is to improve their quality of lives by eliminating holiday hunger.
Our ambition is to provide 1.5 Million meals over 5 years and to become the UK enabler of choice in our sector. The Charity recently surpassed the milestone of 1 million meals supported since the founding of Meals & More.
To further this objective, Meals & More focused on the following key activities during the reporting period:
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partnering with local charities and community organisations (delivery partners) by providing funding to allow them to address the need for meal provision and holiday clubs during the school holidays, with a view to providing nutritious meals and enriching activities to vulnerable children;
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working with industry partners to raise funds and gather resources which are then provided to our delivery partners to either distribute or use at their holiday clubs across the United Kingdom; and
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raising awareness of holiday hunger and social isolation.
Meals & More is focused on developing working partnerships that underpin our aims and make a difference to each child we reach. The Charity is a catalyst for positive change, bringing like-minded people together, creating the opportunity to improve life chances, contributing to happier, healthier children and families. Through provision of nutritious food and enriching activities, Meals & More’s delivery partnerships contribute to supportive environments, boosting health, self-belief and aspirations.
Every child matters and deserves to have a good start in life not only at school, but also throughout the year. We embrace all opportunities to work with organisations and businesses that have similar goals and want to make a difference.
As a Charitable Incorporated Organisation (CIO), Meals & More has recognised the importance of minimising risk and maintains clear policies such as conflict of interest, risk management, privacy, data protection and social engineering to provide a secure platform for achieving its objectives. All Trustees have been trained in GDPR.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Activities were undertaken around the key objectives listed below:
Raising Awareness of Holiday Hunger
Creating a movement to end holiday hunger by collaborative partnerships to increase awareness of the issues and the need for holiday provision.
Supply of Meals
Reduce the impact of holiday hunger on children and their families by improving access to tasty, nutritious food and activities during the school holidays, helping to improve the lives and prospects of children.
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Meals & More
Trustees' Report (continued) For the Year Ended 30 June 2021
Objectives and activities (continued)
Research
Support the provision of evidence to educate stakeholders and the public on the implications of holiday hunger including the detrimental educational outcomes and impact on society.
Health and Well-being
The promotion of health and well-being within the clubs we support, through the provision of sound nutritional advice, as a way of mitigating holiday hunger and its effects.
c. Volunteers
As well as its Trustees, Meals & More is supported by a small number of Ambassadors most of whom work for Brake Bros Ltd. The Brakes’ Ambassadors help promote the work of Meals & More across the Brakes network, gather colleague ideas, share relevant information on the Charity’s priorities and goals, support with fundraising and carry out club quality assurance when possible.
Achievements and performance
a. Key performance indicators
The Trustees have identified the following key performance indicators (KPI's) as a measure of monitoring the performance of the charity and its delivery partners and are continually developing processes for monitoring and reporting on these KPI's.
The KPI's identified include:
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number of meals;
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number of clubs;
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number of delivery partners.
b. Review of activities
Activities which have taken place for the period to meet the key objectives are as follows:
Raising Awareness of Holiday Hunger
Meals & More has continued to build on the campaign lead by Marcus Rashford MBE to keep the issue of child food poverty in the public spotlight and to try and bring about national policy change. We have remained a part of the coalition formed by the Food Foundation and have contributed to the group’s aims of leveraging Government action to address Holiday Hunger and extending Holiday Provision support across England as indicated in the National Food Strategy.
Supply of Meals
This year saw the Charity work with 16 delivery partners across the UK, an increase of two. All delivery partners are required to sign an agreement with the Charity setting out both our expectations of them and what they can expect from us in return. There was a strategic decision to focus on Scotland in FY21, due to the government rollout out of Holiday Activity & Food programme in England.
This year, COVID restrictions have significantly impacted how our delivery partners were able to offer their services. The significant COVID restrictions affecting school attendance has both disrupted our ability to operate normally and increased the need for our work. However, our delivery partners remained steadfast in their resolve to ensure that children did not suffer and continued to build on the provision of activity packs and food through packed meals and food hampers that they had started at the beginning of the pandemic.
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Meals & More
Trustees' Report (continued) For the Year Ended 30 June 2021
Achievements and performance (continued)
During the year, Meals & More supported more than 682,000 meals through our network of delivery partners across the UK. This included 447,116 meals served on site or delivered via packed meals. These were directly funded by grants to our delivery partners. A further 235,520 of the meals were provided via food parcels that were funded by grants and product donations, facilitated through the Charity’s network of supporters.
Research
Due to the continued impact of the global pandemic and the corresponding social restrictions, the Charity has elected not to fund any new research in FY21. This is something the Trustees will continue to review in FY22.
Health and Well-being
The Charity continues to work with delivery partners to share best practice on health, well-being, and enriching activities, so that delivery partners can develop bespoke activities to support attendees at their clubs as they reopen.
The annual Ken McMeikan / Meals & More Literary Prize was relaunched in the Spring of 2021, encouraging Delivery Partners to nominate clubs that encourage children to read and engage in literacy against a set criterion. With £1,250 of book vouchers awarded to a winner and 8 runners up.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the Charity to maintain unrestricted funds, which are free reserves of the Charity and cash held at bank and in hand, which equate to at least 3 months of unrestricted expenditure.
This is to ensure that the Charity can continue to operate if difficulties in recovering future income are encountered in the short-term. If unrestricted expenditure in FY22 is projected to be similar to FY21, this would amount to circa £90,000 (2020: £120,000) at peak periods.
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The Trustees monitor this quarterly and specifically review the following at each Trustee meeting:
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whether projected cash income for the current financial year will exceed projected cash expenditure;
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whether contracted cash income for the current financial year is forecast to exceed contracted cash expenditure; and
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whether sufficient cash reserves are held at the bank and in hand at the end of the quarter to cover the next 3 months’ expenses.
If the reserves policy is exceeded at any quarter end, this must be reported to the Board of Trustees at the next Trustee meeting. If it is anticipated that the reserves policy will be exceeded in future quarters, this must be approved in advance by the Board of Trustees at the next scheduled Trustee Meeting.
Actual unrestricted reserves held at the year-end amounted to £542,085 (2020: £689,236). Cash at bank and in hand at the year-end amounted to £427,766 (2020: £334,488). This is more than sufficient, and the Charity intends to utilise some of these reserves in the next financial year, and beyond, for additional grants to delivery partners. However, the Charity’s ability to do this in the short-term will likely be affected by the pandemic, and the extent to which our delivery partners are able to return to operating holiday clubs.
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Meals & More
Trustees' Report (continued) For the Year Ended 30 June 2021
c. Principal risks and uncertainties
Risks are identified using a risk management process which is reviewed quarterly by the Trustees. This includes Finance, Governance, Operational, External and Compliance risks. Risks which are assessed to be either high or medium are identified and set out in a risk action plan, which is assigned to each Trustee by section and supported by the Secretary to the Board of Trustees. Financial risk management has been a priority for Trustees and several policies and procedures have been implemented to manage these risks, including a delegation of authority.
Additional or increased financial risks, resulting from the ongoing global pandemic, have been identified. The most significant of these in the short-term is credit risk. This may arise from default on financial commitments made to the Charity by supporters. The Trustees believe that the Charity has enough reserves and cash to mitigate the impact of any short-term disruption to income. In addition, the Charity operates multi-year grant agreements with many of our corporate supporters. This ensures a degree of long-term funding commitment and certainty. The Trustees will continue to monitor the risks and take appropriate actions as required.
d. Results for the year
This is the third financial period since the Charity has been registered as an independent Charitable Incorporated Organisation (CIO).
In this period, the Charity has generated £124,079 (2020: £342,998) in total income, a decrease on the comparative period, as no grant agreements were due for renewal in the year, including the existing Brake Bros Limited grant agrement. Against the backdrop of the pandemic, securing new supporter commitments has been challenging.
Brake Bros Ltd (“Brakes”) is a leading food service company in the UK. Brakes founded Meals & More and is a key supporter of Meals & More. Meals & More operates entirely independently from Brakes. However, agreements are in place with Brakes that sees Brakes provide funding and operational support to Meals & More. A grant agreement is in place to provide continued donations through FY22, and the existing operational support agreement expires in December 2021.The operational support provided by Brakes includes providing the vast majority of the Charity’s support costs, including all staff, rent and utilities costs. This ensures that as the Charity generates additional income, this can be used fully towards the Charity’s purpose, rather than paying costs. The Trustees are working closely with Brakes and have agreements in principle for the renewal of these agreements.
The Charity has been focused on building its supporter network and establishing donation commitments from a wider base of supporters. The pandemic has undoubtedly disrupted progress to some extent, it’s been a tough year for business, but our supporters have continued to stand with us. They have been outstanding in recognising the increasing need for the Charity’s work. The Trustees are working with a professional fundraiser in FY22, to further accelerate this work and grow our income.
Meals & More’s model is to support the delivery of projects through delivery partners. As the attached accounts show, Meals & More committed grants to delivery partners of £172,421 (2020: £133,096). The increase of funding allocated was due to the 2 new delivery partners. The Charity intends to increase the amount of grants made to delivery partners over the next year, with a focus on building on existing partnerships where there is capacity and scope to grow in a stepped and sustainable way. This approach mitigates risk whilst improving our reach to more children. In addition, work is ongoing to identify new delivery partners that meet our criteria and are not necessarily benefiting from the national (England only) HAF programme.
Total expenditure on support costs in the year was £98,809 (2020: £139,322).
The net deficit for the year ended 30th June 2021, saw the Charity decrease its total reserves by £147,151 (2020: increase of £70,580), meaning that the total reserves were £542,085 (2020: £689,236). The Charity aims to use this surplus to further all its charitable aims, including by expanding the number of delivery partners it works with and the number of clubs and meals funded, to increase the reach of our work and the number of children that can benefit from our charitable activities.
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Trustees' Report (continued) For the Year Ended 30 June 2021
Meals & More
Structure, governance and management
a. Constitution
Meals & More is a registered charity, number 1179092. Meals & More is a Charitable Incorporated Organisation (CIO), and governed by its constitution.
b. Methods of appointment or election of Trustees
As per the constitution, the original Charity Trustees have been appointed for a period of up to 3 years. Additional Trustees must be appointed by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
c. Organisational structure and decision-making policies
Meals & More is managed by the Operations Director, supported by a Programme Executive. In addition, the Secretary to the Trustees supports the Trustees.
The Charity’s colleagues and Trustees are guided by the financial management process and delegation of authority document, all decisions in respect of financial commitment are made in line with a set authority process set out in the document.
d. Policies adopted for the induction and training of Trustees
Meals & More has the following policies to ensure its Trustees are inducted and trained appropriately and to reduce the Charity’s exposure to external and internal risk factors:
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Conflict of Interest;
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Risk Management Policy;
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Social Engineering;
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Financial Process Management Delegation of Authority document.
e. Risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Risk is assessed on a quarterly basis at each Trustee meeting but is monitored regularly by the Secretary to the Board of Trustees. There is a risk action plan in place which highlights medium to high risk areas which require immediate to short term attention. This action plan is also reviewed at each Trustee meeting and monitored regularly by the Secretary.
Specific consideration has been given to the impact of the global pandemic. The Trustees have identified specific credit and operational risks and continue to monitor and adapt our plans to address these.
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Meals & More
Trustees' Report (continued) For the Year Ended 30 June 2021
Plans for future periods
The impact of the Covid-19 pandemic has made planning and policy decisions aimed at addressing child poverty difficult for the Government and devolved administrations across the UK. There is no consistent approach.
In England, the Government, as part of the Autumn Budget and Spending Review 2021 “Levelling up by supporting families and early years”, has committed to extending the Holiday Activity & Food Programme. This provides over £200 million a year to continue the holiday activities and food (“HAF”) programme, providing healthy food and enriching activities for disadvantaged children in England, delivering the Government’s Flexible Childcare Fund commitment.
HAF funding is targeted at children eligible for free school meals and is devolved to Local Authorities to manage, we are awaiting an evaluation of the outcomes in England.
In Scotland, a recent announcement focuses on the extension of Free School Meals, whereby an estimated 90,000 children may benefit from a £28 million commitment to deliver free school lunches during term time.
A further £21.75 million will provide targeted free school meal support during school holidays in 2021-22. This will impact around 145,000 primary and secondary children and young people from low-income households. Councils will determine what approach in school holidays meets local needs and circumstances, which may include the provision of direct payments, vouchers, or food parcels. It appears that there will be no direct funding of “Holiday Clubs”.
In Wales, a recently announced co-operation agreement with Plaid Cymru, Welsh Government has promised free school meals for all primary school pupils.
The two parties will work together in certain areas for three years, but no detail has been given about when the changes will happen, how much they will cost and how they’ll be paid for. There was a suggestion in the press conference between First Minister Mark Drakeford and Plaid's Adam Price that the two policies impacting young children would be in place within the three years.
In announcing the plans, the Welsh Government said: "Funding has been put in place as part of the Cooperation Agreement and will be reflected in the draft budget”.
Regarding the “SHEP” programme, The Welsh Government will provide £4.85 million in funding to this year’s programme, which will provide places for nearly 8,000 children as they continue to enjoy time at school during the holidays.
In Northern Ireland, Families of young people entitled to Free School Meals receive food grants funding by the Northern Irish Government during school holidays until Easter 2022. This is expected to cost up to around £40 million. Over 100,000 children benefit. School holiday grant payments will be made direct to families to cover all school holiday periods, including mid-term breaks (approximately 20 weeks) between Christmas 2020 and Easter 2022.
There has been no update on the level of child poverty since the pandemic.
A child is considered to be growing up in poverty if they live in a household whose income is 60% below the average (median) income in a given year. Even before the pandemic, 4.3 million children were living in poverty in the UK, an increase of 200,000 from the previous year and up 500,000 over the past five years.
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Meals & More
Trustees' Report (continued) For the Year Ended 30 June 2021
Plans for future periods (continued)
The Social Metrics Commission Report 2020 highlighted concerns regarding poverty across the UK which has changed little over the past 20 years and has been exacerbated by the pandemic.
Poverty in the UK remains a significant issue. 14.4 million people in the UK are living in families in poverty. 4.5 million are children (33% of all children). Three in ten people (31%) in poverty are in deep poverty and, of these, just over half (55%) are in persistent poverty.
Within the 14.4 million people in poverty in the UK:
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2.4 million people are in deep and persistent poverty;
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1.9 million people are in deep poverty (non-persistent);
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4.7 million people are less than 50% below the poverty line and in persistent poverty;
Families in poverty who work less than full time are more likely to experience deep and persistent poverty. Half of people (50%) in poverty in workless families are in either deep and persistent poverty (29%) or deep poverty (non-persistent) (21%). More than four in ten (43%) people in part-time work families are in deep and persistent poverty (23%) or deep poverty (non-persistent) (20%).
Nearly two thirds (63%) of people in poverty live in a family where someone works at least part time
Poverty rates are highest amongst families with children. The poverty rate for people living in couple families without children is 11% (1.4 million people). This compares to 26% (5.9 million people) for people in couple families with children and 48% (2.4 million people) for those in lone-parent families.
Poverty rates vary significantly between English regions. They are highest in London (29%), North East (26%), Yorkshire and Humber (24%) and the West Midlands (24%). Regions with the lowest rates are the South West, South East, and East of England (18%) and the East Midlands (19%).
Poverty rates vary less across the UK’s four nations. The highest rates are in Wales (23%) and the lowest in Scotland (19%).
The Charity has recorded higher than expected number of supported meals during the past year due to the pandemic and is on target to exceed our commitment to achieve at least 1 million meals between FY21 and FY25.
The Charity aims to continue to increase grants given to existing delivery partners and exploring opportunities to reach out to further partners that deliver support to communities in areas of social deprivation across the UK. The Trustees are also examining ways of how to improve on the “more” element in the most cost-effective way, by identifying and working with a partner or partners to deliver at club level activities to engage children and young people in education, sport, literacy, and cookery whilst having fun.
To achieve these ambitions over time will depend not only on sound financial planning but a focused approach on income generation and cementing relationships with existing supporters. The Charity will bring in an experienced Corporate Partnership Manager to focus on identifying and maximising the opportunity to garner further support from our existing food industry channels as well as developing new long-term supporters.
Meals & More will continue to play its part until every child who lives with poverty doesn’t fear where their next meal is coming from.
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Meals & More Trustees. Report (continued) For the Year Ended 30 June 2021 Statement of Trustees. r•sponsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in aLUrdaTr wilh applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). The law applicable to charilies in England & Wales requires the TFUStees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of ils income and application of resources, including its income and expenditure, for that period. In preparing these financral statements. the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly.. observe the methods and principles of the Charities SORP IFRS 102}- make judgements and accounting estimate5 that are r8asonable and prudent,. stale whether applicable UK AOUntIng Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements,, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting iecords that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Chattty (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence foi taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the Board of Trustees on on their behalf by.. 21/212022 and signed KA NG6thv£ K*therine Ann Woodhouse Chair of Trustees Page 10
Meals & More
Independent Examiner's Report For the Year Ended 30 June 2021
Independent Examiner's Report to the Trustees of Meals & More ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2021.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
S M Rouse
Dated: 22 February 2022
FCCA DChA
Kreston Reeves LLP Chartered Accountants Canterbury
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Meals & More
Statement of financial activities For the Year Ended 30 June 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 124,079 124,079 271,230 271,230 (147,151) 689,236 (147,151) 542,085 |
Total funds 2021 £ 124,079 124,079 271,230 271,230 (147,151) 689,236 (147,151) 542,085 |
Total funds 2020 £ 342,998 |
|---|---|---|---|
| 342,998 | |||
| 272,418 | |||
| 272,418 | |||
| 70,580 | |||
| 618,656 70,580 |
|||
| 689,236 |
The notes on pages 15 to 21 form part of these financial statements.
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Meals & More Balan¢e Sheet As at 30 June 2021 2021 2019 Note Current assets Debtors Cash at bank and in hand 196,322 427.766 401.443 334,488 624,088 735,931 Creditors.. amounts falling due wthin one year {82,003) {46.695} Net current assets 542,085 689.236 Total net assets $42,085 689.236 Charity funds Unrestricted funds 042,085 689,236 Totsl funds 542.085 689,236 The financial statements were approved and authorised for issue by the Trustees on 2112120 and signed on their behalf by.. Kath•rine Ann Woodh•us¢ Chair of Trustees The notes on pages 15 to 21 form part of these financial statements. Page 13
Meals & More
Statement of Cash Flows For the Year Ended 30 June 2021
| Cash flows from operating activities Net cash used in operating activities (see note 10) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 15 to 21 form part of these financial statements |
2021 £ 93,278 93,278 334,488 427,766 |
2020 £ 145,012 |
|---|---|---|
| 145,012 189,476 |
||
| 334,488 | ||
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
1. General information
Meals & More is an charitable incorporated organisation registered on the 6th July 2018 with the charity registration number 1179092 and the company registration number CE014575. The address of the registered office is Enterprise House, Nicholas Road, Eureka Science Park, Ashford, Kent, TN25 4AG.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Meals & More meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
3. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 114,879 Grants 9,200 124,079 Total 2020 342,998 |
Total funds 2021 £ 114,879 9,200 124,079 342,998 |
Total funds 2020 £ 145,929 197,069 |
|---|---|---|
| 342,998 | ||
4. Analysis of expenditure by activities
| Charitable activities Total 2020 Analysis of direct costs Payments to contracted partners Payments to non-contracted partners Total 2020 |
Direct costs 2021 Support costs 2021 £ £ 172,421 98,809 133,096 139,322 Unrestricted funds 2021 £ 172,421 - 172,421 133,096 |
Total funds 2021 £ 271,230 272,418 Total funds 2021 £ 172,421 - 172,421 133,096 |
Total funds 2020 £ 272,418 |
|---|---|---|---|
| Total funds 2020 £ 96,295 36,801 |
|||
| 133,096 | |||
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
4. Analysis of expenditure by activities (continued)
Analysis of support costs
| Unrestricted funds 2021 £ Staff expenses 152 Independent examiner's fees 3,300 Marketing - Legal and consultancy 2,789 Bank charges 78 Staff costs 75,976 Rent and ultilities 19,500 Bad debt provision (3,333) Trustees' insurance 347 98,809 Total 2020 139,322 |
Total funds 2021 £ 152 3,300 - 2,789 78 75,976 19,500 (3,333) 347 98,809 139,322 |
Total funds 2020 £ 4,198 3,150 15,034 2,140 1,495 86,465 19,500 7,000 340 |
|---|---|---|
| 139,322 | ||
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 30 June 2021, there we no expenses reimbursed or paid directly to any of the Trustees (2020 - £Nil).
6. Debtors
| Due after more than one year Debtors due after more than 1 year Due within one year Trade debtors Other debtors |
2021 £ - - 96,693 99,629 196,322 |
2020 £ 100,000 |
|---|---|---|
| 100,000 192,484 108,959 |
||
| 401,443 |
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
7. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income 8. Statement of funds Statement of funds - current year Unrestricted funds General Funds Statement of funds - prior year Unrestricted funds General Funds |
Balance at 1 July 2020 £ 689,236 Balance at 1 July 2019 £ 618,656 |
Income £ 124,079 Income £ 342,998 |
2021 £ 75,553 6,450 82,003 Expenditure £ (271,230) Expenditure £ (272,418) |
2020 £ 43,205 3,490 |
|---|---|---|---|---|
| 46,695 | ||||
| Balance at 30 June 2021 £ 542,085 |
||||
| Balance at 30 June 2020 £ 689,236 |
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
9. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Current assets 624,088 Creditors due within one year (82,003) Total 542,085 Analysis of net assets between funds - prior year Unrestricted funds 2020 £ Debtors due after more than one year 100,000 Current assets 635,931 Creditors due within one year (46,695) Total 689,236 |
Total funds 2021 £ 624,088 (82,003) |
|---|---|
| 542,085 | |
| Total funds 2020 £ 100,000 635,931 (46,695) |
|
| 689,236 |
10. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Decrease in debtors Increase in creditors Net cash provided by operating activities |
2021 £ (147,151) 205,121 35,308 93,278 |
2020 £ 70,580 |
|---|---|---|
| 59,584 14,848 |
||
| 145,012 |
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Meals & More
Notes to the Financial Statements For the Year Ended 30 June 2021
11. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2021 £ 427,766 427,766 |
2020 £ 334,488 |
|---|---|---|
| 334,488 |
12. Analysis of changes in net debt
| Cash at bank and in hand | At 1 July 2020 £ 334,488 334,488 |
Cash flows £ 93,278 93,278 |
At 30 June 2021 £ 427,766 |
|---|---|---|---|
| 427,766 |
13. Related party transactions
Meals & More was originally set up by Brake Bros Limited, who continue to support the Charity and have an operational support agreement in place with them. Brake Bros Limited has donated £Nil (2020 - £Nil) to the Charity during the period, and has a debtor balance with Brakes of £100,000 at year end for income recognised in previous periods yet to be paid (2020 - £200,000). Brakes continue to meet its existing commitments made to the Charity under the 2019 grant agreement, with annual cash contributions of £100,000 (2020: £100,000) in the year.
Brakes has also granted the Charity use of its own staff members, plus provides office space, utilities and use of equipment to the Charity free of charge, during the financial period. The value of this staff time, rent, utilities and equipment amounts to an additional donation of £95,477 (2020 - £105,965).
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