Charlty number: 1179638 BEDFORD FOODBANK UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
BEDFORD FOOD8ANK CONTENTS Page R•f•r•nc• and Admlnl•trative D•tsll• of th• Charlty, It• Trusts•s and Ad¥l••r• TruBtw•' Report Indgpgndont ExamIn0* Roport Stat•mont of Flnanclal Actlvltl 10 Balanc• Sheet 11 stst•m•nt of C••h FIoY•T 12 Not•• to th• Flnancllll Ststsments 13-24
BEDFORD FOODBANK REFERENCE AND ADP•llNISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Tru•to Rev A L Davis (resigned 20 January 20251 E Ponsonby lappoinled 20 January 20251 D Fraser Ireslgned 17 February 20241 W Fradin (resigned 17 June 20241 JEMHyne K Middlalon G R Moore. Chair Charlty v•gltorèd numb•r 1179538 Prlnclpal offlce 8-9 Murdock Road Manlon Industhal Estate Bedford MK417PL Accountants Stre8ts Chartered Accountants Potlon Houso Wyboslon Lake8 Great North Road Wyboslon Bedford MK44 38Z Bnk•r• Natsve81 Bank plc 81 Hlgh Street Bedford MK40 IYN Bucknnghamghlre Bulldlng Sodety High Street Chalfonl Sl Glle8 Buckinghamshire HP8 4QB CAF Bank Limited 25 Kings Hill Avenue King5 Hill West Malllng Kent ME19 4JQ Page 1
BEDFORD FOODBANK TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their annual report together vmth the financial statements of the Bedford Foodbank for the year from 1 October 2023 to 30 September 2024. Objectlves and actlvltles Pollclg5 ind obJectlve¥ The purpose of the charity, as set out in rts goveming document, 15.. The relief of financlal hardshlp amongst people in Bedford and the wrroundlng area, or In other parts of the United Kingdom in such way as the Trustees from tlme lo lime thlnk fil, in particular bul not exclusively by.. i) Providing emergency food. esyèntoal lollelrles. and other household r(em8 to Individua18 and families in need and l or for distribution by charttles and other organlsations working to prev•nl or relieve poverty. ill Such other mean¥ Indudlng (but not limited tol the provision of support or Signposting to rg18vanl infoTmation and other advigory •ervice•. iiil And lo provide such 8•ivlces th a Chrlstian eth08. SUPPOrted by ellabliyhèd ¢hurcha8 In thè area of benefrt. Iv) The benefit of our purpose to support people in need Is to feed Indlvlduals and families vtho, for one reason or another, may have difflcullie8 Sn feeding themselve8 andlor Ihelr famille8. Our seryice improve8 the abllity of families to care for children and achleve goal8 of 8eif-sufficiency. In Setting objethes and planning for aclivllie¥, tho Trustees have given due consideration to general guldance publlshed by the Charity Comm18slon relatlng to publlc benefit, including the guidance 'Public benefll.. runnlng a charity IP821'. Stralegle• for •chl•vlng obS•¢tlv•• Wa exist to provlde emergency help lo local pèopl8 in food poverty; we are 8atl8fied that we have achleved thSs to the b¢¥1 of our ability. ¢. Actlvltloj undtrtaken to •¢hl•v• obJoctlv•• Th• tharity manages Bedford Foodbank, prowding three days, nutritionally balanced emergency food and support lo local people who are referred to us in crlsls. We are part of a n8Uonvlde netMKrk of foodbank8. supported by The Trussell Trust, working to combat poverty and hunger across the UK. d. Qrnntffiaklng pollcle We do not offer grants lo any Sndlvidua18, group8 or other ch8riUe$ other than Ilmiled donatlons to our clients who are food-poor, who may have identified a lack of funds for ga$ or eledricity seICes, where small grants are available from th'me to lime. Page 2
BEDFORD FOODBANK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Objectives and •ctSvltl¢• (contlnuedl e. Maln actlvltles undgrtaken to further tha Charlty's purposes for the publlc bonefit Schools. churches. businesses and individuals donate non perishable, in4ale food lo the foodbank %thich is checked, scrted and packed Into crates ready to be gNen to people in need. The organS$allon received a Significant amount of financial donations in additson to food donations. Financial dOnaOn8 are used to purchase food for Clients and to cover adminlslralion and running costs of the Charfty. Care professionals Such as doctors. health vlsrtors, social workers, Citizen$ Advice Bureau ICABI and pollce amongst other organlgatlon3, Includlng charitles, Identify people in crl8is and issue them wrth a foodbank voucher. Foodbank Gllent¥ bring the voucher to a foodbank dlstrlbullon cèntre whère rt is redeemed for approximately three days emergency food. Volunteers meet cilents and are able lo signpost them to agencies vthich are able to help Solve the longer temi problems. f. Volunt••rn Our volunteer8 are an absolutely key part of our work, and we could not achieve any of the objectives vmlhoul their contribution. Followng some changes lo the profile of our volunteer population partly related lo the Covld pandemic. we hgve been eaSed lo welcorne new volunteer8 and we have sufficient help to enabl• u8 to cary out our work. Achl•v•m•nts and p•rfomianc• . Maln achl•vem•nts of tha Charlty Bedford Foodbank I'The Fo¢dbank'l1g an Independent chanty. operating as a member of Trusgell Trust netsvork of foodbanks and we follow the Trugsell Trust'y pollcles. The foodbank employ3 five paid full-time and part time staff and is supported by aPpr0MatelY 120 volunteers each week. The Foodbank operates from a rented warehouse th Offices close lo Manton Lane in 8edford. In November 2023 the Foodbank moved into a laryer warehouge in Manlon Lane giwng more opeTatlng space. The Foodbank works wlh over 280 f¢fraI agencies in and around Bedford. The foodbank provides emergency food and short- term support lo local people who are experièncing lood povety. Food 18 di8lrlbuted lo clients through 7 distribution cenlres (mainly church premises) on working day afternoons. Cllenl numbers Increased by 4% during thi8 year bLrt not as e[gn1¢an1IY ag the previous year. In the year endlng September 2024 The Foodbank fed 24,864 dients, which inclutled 8,460 chlldren, from 11.693 vouchers. This compares wlh 2023 vthere 24,108 dients were fed, including 8,492 Children, from 10,756 vouchers. The Charity's donors and supporters of food and cash have continued to be generous this year but there has been a nob'ceable decline in giving. probabty due to the cost-of-living crisis. The Foodbank Continues to malntain a healthy financial slate bul increased purchasing costs mean that the Trustees conllnue lo manage the lunds th care. The cost of food being purchased monthly has increased dug to lower conlribubons and rising foofj costs. During this last year £120,000 was spent on food and toiletry items. There are plans to join with other foodbanks in order lo buy 81ock items bulk lo ty and reduce the buying costs. Page 3
BEDFORD FOODBANK TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Achievements and performance Icontinuedl In the year ended 30 September 2024, 101 tonnes of food was donated to us Iprevious year 178 tonnesl. The Trussell Tru51 uses a figure of £2.7712023 £2.37) as the value of 1 kg of donated stock. Thi5 figure is nationally agreed by Trussell Trust in conjunction with the food industry, and these values have been used to estimate the value of donated goods in the flnancial slatemenls. In addition, 115 tonnes of food was purchased. Food IB donated through supermarket collection points across the town of Bedford and th15 accounts for approxlmately SO% of donation8. The remaining donated food is collected through local Churches, schools and generous Individuals. Last year 39 schools and 33 churches donated their H8rvest Festival collections to the Foodbank making 8 grand total ol 8.042kg of food. Bedford Foodbank partners th over 230 statutory organls•llons, churches & chariues vkno can act as referral agencies who are ideally placed in the community lo identSfy individual8 and familie8 are in need and are able lo issue lo E-vouchers. All Bedfd Foodbank Referral 8gencies wll be working vrth the indiwdual$. so wll be aware of the background stories and what other help is being receive(l. The Foodbank continu8$ lo have good working relationship wlh Citizen's Advice Bureau, vtho attends all 7 distribution centre8, offering extra advice & support lo our ¢lient$ and i$$uing vouchers if a need is identified. Funding for this has come through Trussell Trust during Ihlj last year. To assist households during the cold weather and with Increased fuel cos15. the Foodbank is registered to Issue Futsl bank voucher5 from thè Fuelbank Foundation, lo dlenls accessing the Foodbank. Th1$ enables housaholdg lo coek the food received and keep warm. A maxlmum of 4 voucherg per hougehold per year can be Isgued wllh voucher worth £49. Bedford Borough Councll has a180 provided funding for the Foodbank to purchase hot water bottles, fleece blankets, socks, flasks, hals and gloves lo give lo clients in need. In summary, The Foodbank conllnues lo be very busy meeting the increased demands of Ihelr cllenls. The work could not continue without the support of donor8, staff and volunteers, for whorn they ore very grateful. The Foodbank staff and Trustees conbnue to Work toward8 providing for the growing need for food and finding the Jnding to support this. The outcome is that many thousands of people have received help from The Foodbank and il is a privilege to offer theTll SUPPOrt. Fln•n¢l•l rovlew . R•vl•w ol th• ch•Aty's flMncl•l poJltl( Det8ilg of Ihe charlty's Income and expenditure are shown in the attached Statement of Flnancial ACts'V.eS and the Balance Sheet. They include both monetary donations and e$limaled values for the donatr'on of goods, using the standard measurement and valuabon procedures adopted by the Trussell Trust. The vast majority of donats'on$ are received from individuals who make conlribulion¥ via bank. online and cagh donations or as gifts in kind from donated items of food. loilelries and other items. The financial trends reflect a continuation of the generous giving from many 50urce5 SUPPOrtive of Bedford Foodbank, but there has been a ieduclbon In both mDnelary denat(ons and gSfts of food during the year. In the year ended 30 Seplembei 2024, financial Gonlributlons from donations, grant and other income amounted lo £389,709 12023 £439,801) and the value of donated goods received was eslimalEd to be £282,616 12023 £422,600). The value of donated goods distributed in the year was estimated lo be £527,340 12023 £478,747). The vast majority of donated good5 were distributed to clients, bLbt Stock bmth an eslimaled value of £9,205 {2023 £5,707) had to be scrapped as il wa5 Out of date al the b.me the charity received it. The financial contributs'ons ceiVe(l have enabled the charfty to meet the increased demand from clients and the charity was in a strong financial posib'on at the reporb'ng dale. However, the injstees are mindful that a significant number of one off donations have been received and there is a much smaller number of committed. regular donors 80 the levels of income may fall again in the forthcoming years. Page 4
BEDFORD FOODBANK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 In August 2023 the Foodbank entered Into a long term lease agreement conceming the provi8ion of warehousing space. The move to a new 14,000 square foot warehouse location, sthich is close lo the previous facility was successfully completed in early Novernber 2023 thout disruption to services to our client$ and the Foodbank is nc)w fvlly operats'onal out of this new larger facilty. This now allows the Foodbank to manage the storage and dlstribulion of laryer volumes of food to meet the Increaslng demand as well as operate in a safe environment for employees and volunteers. Thi9 has been achieved vthilst e5tablishin9 a significant financial commitment from the Foodbank, the Foodbank has successfully negotiated and avolded any excess liability lated lo the old srnaller facility. A number of one off move relèltsd c051s were incurred and recognised in the year ending 30 September 2023. Some residual removal costs have been induded in the 2023-24 financial year. Now that the move has been made trustees anticipate further review8 of our services to ensure that we 3upport clients In Ihelr best use of the food we offer them. b. Reserv•¥ pollGy Durlng the year the reserves pollcy was reviewed. 11 w89 agreed to relain the pollcy of alming lo hold the equivalent of 1Ve months, woth of our budget in reiervg. This is to enable us to continue Operan9 should we face a situation vthereln we are unable to yecure sufficient income to meet our needs,. the expectation 18 that th1$ should ba Suffidenl to meet our needs untll such Ilme as funding can be secured. The level of reBerves tske8 into account the fin8ncial commitment of the lease agreement for thelorger premise8, the increased commitment around $laffin9 costs as the Foodbank's omployed 8tsff numbers continued to ri38 in 2023 and 2024 the fall In donations of food Items wnd flnancS1l donations (both of wthlch Incre88ed 8lgniflcandy durlng the covld-19 pandemlcl the Increased demand for support due to the increased c03t of Ilvlng In 2D24. Ihe charity's expenditure from general fund8 was £118,833 hlgher than Income. reducing the level of gener81 funds from £609,405 10 £490,572. At the p0.n9 date, the actual level of reserves remained above the largel reserves pollcy, bul the trustees are forecasting 8 further deficit in 2024125 In a ped use of fund5 for charll8bl& purposes. c. Golng concem After making approprtale enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operation81 exl8tence 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 concem basis can be found in the 8cGounling policieg. d. Prlnclpal rl$kn and uncertalntlos We do continue to rewew rlsk5. At Present, we do consider that these are subslanlial or grove. We rwew the nation81 and local economlc dimate regularly and as the financial year for Bedford Foodbank ended we were aware of both the energy crisis and general economic uncertainty caused by the cost of living crisis. Vve keep all this thing8 uppem)0st in our mind5 a5 we review and adapt our procedures and poliaes. Page 5
BEDFORD FOODBANK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 . Prfnclpal fvnding The principal source of fvnding for the Foodbank is through financial donations made by the public, some in the fom of occasional donatlons and other through regular, structured giving. The Foadbank strtjctures its receipt of donats'ons so as to capture any ald benefits acc¢xdingly. It is noted that the bag18 of the Foodbank8 operation 59 around the don8llon of food, vthlch 18 then di81rlbuted lo the needy and hungry in 8edford Borough. During tho covid pandemic the charity saw an increase in finan¢ial donations cornpad to donated food items. The overall level of donatsons {food and finance81 increa8ed year on year from 2020 to 2023 bul both sources of donations have fallen in 2024. 3tructur•i gov•m•nc• •nd m•n•g•ffl•nt a. Conltltutlon Bedford Foodb8nk is o regi$tered charity, number 1179538, and is constituted under a Charitable Incorporated Organisalion (CIO) Foundation Congtrtuon. b. M•thod* of appolntmfrnt Qr •l•ctlon of Tru•t••• The monagemenl of Chorfty i# the r•sponsiblllty of th• Trustee$ are eleclad and co opted under the term8 of the con81ilulion. and appolnted by exlstlng tru8lee$. . Org•nhatlonal •tructur• •nd d•cl•lon4n•klng pollcl•¥ The organisalion structure of the Foodbank is based around the Board of Trustees, and reporting lo the Board 15 the Project ManagerlDirector who has direct reports of seven employed staff members. The Simple structure serve5 the Foodbank well being able to make 5wIft and effectlve declslons al an opeTatlonal level complemented by detailed con8lderations and discu35icn8 by the Board of Iru8tee3 lor larger decislonj and strategic matters. Initiated in September 2023, the Board developed 8 Strategic Plan for the Foodbank that 801$ ¢)ut a three lo five ye8r plan for operations, people 8nd finances. The Trustees consulted vAth $tsff and volunteers on the process and look a number of gxternal inputs into account. In 2024, the Tfustees commissioned an independent HR review to look at and advise on structures and policies for the Foodbank which have now been implemented. d. PollclM adopted for tho Inductl¢n and trnlnlng of Tru•tees Appropriate training is given lo Iruslees, including to Iruslees. This includes bul is not limited to the training offered lo foodbanks by the Trussell Tmst. o. Pay poll¢y for key man•gomonl p•rnonno1 Pay policy for key staff employed by the Foodbank 15 under the control of a small remuneratson committee comprising of kn members of the Board of Trustèes. Outside factors. market tndS and inflationary pssureS are all lakery into account In 5eth.ng pay levels, as performance levels on occasions. The tsmeliness of any pay thanges Is also addressed by the remuneration comrnittee when assessing thanges to staff pay. Page 6
BEDFORD FOODBANK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Structurei govem•n¢• •nd managèment {continued f. R8lat•d party relaOon$hlp* As part of the Truysell Trust nets¥ork, we follow their poliaes and benefit from their regional structure, where we benefit by leamlng withfftom similar, local, Foodbanks. We enjcy good 13110h1p5 with other charities and bodies in the local area also seek lo relieve poverty. These relationship9 8re informal., we do not, for example, make grants to other charities, but may from tsme to time offer to share resources with other local foodbank8. g. Doclslon-maklng process The charity makes Ils larger dedslons through a Board of Trustees wthin the context of regular 808rd Meetin95 that are scheduled in advance . Any decisions requlred are Set out in advance of the meeting through an agreed agenda and any 8UPPOrting documents are provided in advanc8. Tho Board of Trustees delegate smaller operational decision making lo tha Prolecl Manager for Bedford Foodbank who has suitable expÈrfence and capability to support thi8 delegats'on of authority. The Charity operate against a detailed annual budget and any rinancial decision Is made in nIun.0 wlh the pre-approved budget. For operational matters the Project Manager Is Sn regular contact wlth each of the Tru8tees, and In p8rtlculaT the Chair, and discusse8 mor• operational dècisions always on a timely basis. Pl•ns for futurn perlod• The Foodbank is committed to delivering a high standard ol 8ervlce lo anyon8 who engages with our work Th? TTuslees believe that the best way to improve 8eNice 18 by learning from the people who use il 50 we welcome comments, compllmenls and complaints from clients. referral agencies, volunteers and anyone else Foodbank comes Into contact with. These help the Trustee8 lo see what the Foodbank is doing well and where 11 can make improvements for the future. To this end, the Foodbank has now successfully eslabllshed Itself Into a new enlarged warehouslng facility lo cope with the extra food requirement8 and is now looking lo bed Ihls In lo the operational procedure and eslabligh Improved efficiencies %thil¥t mainlaining a safe working environment and an engaging place to work for all staff and velunleers. P8ge 7
BEDFORD FOODBANK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Ststsment of Tru8tses' ve8pon8lbllltloJ The Trustees ar8 respSIble for preparing the Truslees, Report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢e}. The law applScable to charlties in England & Wales requlres the Trustees to prepare flnandal statemants for each finanaal which give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of SOurCeS, including its income and expendrture, for that period. In preparing these financial Statements, the TTUBtee5 are requlred to.. select suitable accounting policies and then apply them conslstenlty., observe the methods and pdnclples of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounb'ng Standards IFRS 102) have been followed, Subject to any material departures dbyclosèd and explalned In the flnanclal slatèmenls., prepare the financial statements on the going concern baw8 unle88 ft18 Inappropriate lo presume that the Charity wll conts'nue in busine¥¥. The Trustees are responsible for keeping adequate accounting records that are Sufficlent lo show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial po811ion of the Charty and enable them to ensure that the finanelal slalementg comply with the Charities Act 2011, the Charly {Accoun18 and Report81 Regu18tion8 2008 and the provi85on8 of the Trust dee¢J. They are a180 responsible for safeguardlng the asselg of the Charty and hence for taking reasonable Steps for the prevention and detection of fraud and other irre9ularilie8. Approved by order of the rnemberB of the board of Trustees and signed on thelr behalf by., G R Moor• Chair of trustees Date.. 31 March 2025 Page 8
BEDFORD FOODBANK INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Indepandènt Ex•minerfs Report lo tho Trust••S of B•dford FoOdnk Ilh• Charity'l We report to the Charty Trustees on examination of the accounls of the Charity for the year ended 30 September 2024. R•sponslbllStios and B•sls ol R•port As the Trustees of the Charity you are r•sponslble for the preparation of the aUnIS In accordance wlh the requirements of the Charities Act 2011 I'the 2011 Art). We report in regpe¢t of our examination of the Charity's accounts G3rrie¢J out under sèctbon 145 01 the 2011 Ad and in corng out our èxamination we have followed the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independont Examin•rf• Stst•m•nt Since the Charity's gr055 income exceeded £250,000 your examiner musl be a member of a body listed in sectlon 145 of the 2011 Act. We confirm that we are qualrfied lo undertake the examinab'on because wg are a member of the In8ts'tut6 of Chartered Account¥nt$ In England and Wales IICAEWI, which is one of the listed bodies. Your attention 15 drawn lo the lacl that the Ch8rfty hay prepared the gccounts In accordance th Accounllng and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparlng IheSr accounts in accordance with the Finanu81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 In preference lo the Accounting and Reporb'ng by Charitles." Slalemenl of Recommended Practice issued on 1 April 2005 which Is referred to in the extgnt regul8llons bul has been ¥thdraWn. We understand that Ihls has been done in order for ihe accounts to provlde a true and fair view in acrdance with tha Generally Accepted Accounting Pracllce effe1ve for reportlng perfod8 beginning on or after l January 2015. We have completed our examination. Wè confirm that no matter8 have come to our attenllon In connection th the examination giving us cause to belleve that in any material respect.. accounllng records were not kept in reScl of the Charity as required by section 130 of the 2011 Act., or the accoun18 do not accord wlh those records,. or the accounts do not comply wllh the applicable requlrements con¢eming the form and conlenl of accounts sel out In the Charities (Accounts and Reportsl Regulations 2008 other than any requlremenl that the accounts give A Irue and 1411 view lCh is not a matter considered as part ol an Independent examination. We have no concerns and have come acro89 no other matters in connection wlh the examination to which attentson should be drawn in this report in order to enable 8 proper understanding of the accounts lo be reached. This Part 1$ made solely to the Charity's Trustees, as a body, In accordance with Part 4 01 the Charities IAGcDunts and Report51 Regulation5 2008. Our work ha$ been undertaken so that we rnighl slate lo the Charity's Trustees those m8tter5 we are required 10 Stale to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, we do not accept or aggume responsibility lo anyone other than the Charity and the Charity's Trustees as a body. for our work or for this report. Signed.. Alan Ender5by FCA str••ts Chart•red Accountants Potton House, Wyboston Lakes, Great Ncllh Road. Wyboston. Bedford, MK44 3BZ Pagg 9
BEDFORD FOODBANK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Restricted Unrestrlcted funds fund$ 2024 2024 Total funds 2024 Tot81 runds 2023 Note Incom• from: Donations and legaclèg Charitable activitie8 Investments 73,667 316,042 282,818 0,290 389,709 282,818 6,290 439,801 422,600 1,964 Total Incom• 73,667 605.148 678.815 864,365 Exp•ndlturn on: RaisSng lunds Chantjble ?ctivrti88 204 204 790.296 2,272 680,084 65,637 724.859 Total expendlture 66.637 724,863 790,500 682.356 N•t In¢om•l{expendltur•) Transfers behveen funds 8.030 80 1119,7151 {801 1111.6851 182,009 15 N•t mov•m•nt In funds 8,110 1119,795 {111.685) 182,009 R•concili•tlon of fundB: Total fvnds brought forward Net movement in funds {4,3001 8,110 630,835 {119,795) 626,527 444,518 182,009 Total fund# carrl•d lorn¥ard 3,802 511,040 614,042 626,527 Tho Slalemenl of Financial Activities Indudeg 811 galn8 and108se$ regniSed in the year. The notes on page8 13 10 24 form part of these flnancial slalements. Page 10
BEDFORD FOODBANK BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note Flxed a$$ot¥ Tangible assets Curront ••s•t• 20.468 21,430 Stocks Debtors Cash at bank and In hand 12 84,471 65,976 374.327 47. 737 107.998 456, 718 524,773 612,453 Credltors.. amount$ falllng due within one year 14 {30,399) (7,356J N•t curr•nt as*•t¥ 494,374 605,097 Total n•t a•••ts 514,842 626,527 Ch•rfty funds Reytricled funds Unrestricted funds 15 3,802 S11,040 {4.308J 630,835 Totsl funds 514,842 626,527 The fin8ncial $talements were approved and aLrthori8ed for issue by the Trustees and gned on thelr behalf by.. G R Moore Chair of Trustee8 Date.. 31 March 2025 The notes on pages 13 to 24 fonn part of these financial ¥latemenlg. Page 11
BEDFORD FOODBANK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Cash Ilow• from ¢pr•ng activltl•• Net cash used in operating actiwtie8 (82,8031 97,615 Cayh Ilow• froffl Investing activities Dividends, Intere515 and rents from investments Purchase of tangible fixed as$et8 6,290 16,0781 1,964 (1,656) N•t ca•h provld•d by InvMtlng •ctlvltl•• 212 308 Ca•h flow• from financing •ctlvltl•¥ N•t caah provld•d by Iln•nclng actlvltl•• Ch•ng• In ¢a•h •nd c••h •qulv•l•nt• In th• y••r Ca8h and cash aquivalents at the beginning of the year 182,3911 456,718 97,923 358,795 C•8h and c•gh •qulval•nts at th• •nd of th• y••r 374.327 456,718 The notes on p8ges 13 10 24 fomi part of these finBncig1 sLitements Page 12
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Gen•ral Inforniation As sel out the Iruslees. report, Bedford Foodbank is a Charitable InCoorated Organisation ICIOI registered th the Charity Commi55ion in England and Wales. The address of their registered office is 9 Murdock Read, Manton Induslrfal Estate. Bedford. MK417PL. The financial statements are prepared in Slerflng, whlch 15 the functlonal cUencY of the entlty. Accountlng poll¢lo8 2.1 8as1s ol preparatlon of flnanclal 8tat•mont8 The financial statements have been prepared in accordance wth the Charities SORP IFRS 1021 Accounting and ReportSng by Charltles". Slalemenl of Recommended Practice applicable lo charities pr&paring their account8 in accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Flnancial Reportlng Standard applicable in the UK an¢Y Republic of Ireland IFRS 102) and the Charities Act 2011. Bedford Foodbank meets the definltion of o publlc benefit •nllty under FRS 102. Asstrts and liabilities are initially recognised al historical cost or transath'on value unle88 oth•sse 8laled In the relevant accounting policy. 2.2 Income AJI income is recognised once the Charity has entlement to the Income, It IL4 probable that the income VAII be received and the amount of income receivable can be me8gured reliably. Grants are included In the Stalemgnl of Flnanugl Activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in ¢he relav8nl funds on the Balance Sheet. Where income ig received in odvgnce of enliuemenl of receipt, 118 recognition is deferred and Included in credttors 95 deferred Income. Where entldement o¢cur8 belore income is received. the income is accrued. Gifts In klnd donated for distributlon are induded al valuation (using standard valuats.on procedures 8dopled by the Trussell Trust) and recognised a5 income when they are donated lo the charity. Income lax recoverablo In relaUon to Investment income Is recognised at the lime the inve8lmenl income 1$ receivable. 2.3 Expgndlture Expondrture 1$ recognised once there 1$ 4 legal or construdve obllgallon to transfer economlc benefit to a third party, it is probable that a Iran$fer of economic benefits wll be requiTed in settlement and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditu incurred by the Charity lo raise funds for Its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking Ihe activities which fiJrther the Charity's objectives, as well as any a550ciated support costs. The value of grfts in kind distributed by the ch8rity are included at valuation (using standard valuab'on procedures adopted by the Trussell Tnjgti. Page 13
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting polici•s {contynuedl 2.3 Expèndlturè {eontinuedl All expèndlture Is Inclusive of irrecoverable VAT. 2.4 Intsrost r•c•lv•bl• Interest on fund$ held on deposit iy Included en receivable and the amount can be meayured reliably by the Charlly,. this 18 nonnally upon notification cf the interest pald Qr payable by the institution wth whom the funds are dèposited. 2.5 Tanglble flx¢d a¥$•ts and d•pr•clatton Tangible fixed aBsels costing £500 or more are pitalIsed and recognisod when future economic benefity arè probable and the cost or value of the asset can be measured reliably. Tangible fixed a88elg are Inllially CognIsed al cost. After recognltion. under the cost model. tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bdn9 a tangible fixed a$$et into ils Intended womng Eondilion should be Induded In the meaiurernent of cost. Depreciatlon 18 Gharged so as to allocate the 8t of tangible fixed assets less thelr residu81 value over their estimated usebjl live8. Depreclatlon 1$ plded on the followng b•sis'. Motor vehicles Office equipment 25% Reduclng balance 33% Straight Ilne 2.6 stock• Stocks of donated and purchased goods are valued using the standard valuation procedures adopted by the Trussell Trust. 2.7 Debtor• Trade and other debtors are recognised al the settlement amount afteT any trade diBcount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand include5 cash and short-term highly liquid investments with a short maturity three months or le38 Irom the date of acqui511ion or opening of the deposit or similar account. 2.9 Llablllllgs and provl$lon$ Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of 8 past event, (( Is probable that a transfer of economic benefil will be required in 5etllement. and the amount of the Settlement can be estimated reliably. Page 14
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Icontinuèdl 2.10 Flnanclal Instrumonts The Charity only hay financial as5ety and financial liabilities of a kind that qualfy as basic financial instruments. Basic financial Instruments are Initially recognised al Ir8n$actlon value and subsequently mgasured at their settlement value with the exception of bank loans bthich are subsequently measured at amortised cost using the effectlve Snlerèst method. 2.11 P•n•lon• The Charity operat88 a deffned contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.12 Fund accountlng Genefal funds are unre$lricted fund8 whlch are available for use al th& diKretion of the Tru&lee8 In furtherance of the general oblectlv•# of the Charlty and vthl¢h have nol been deslgnated for other purposes. Reslficled funds are funds which a to be us8d In accordance wth specSfic restrictions imp08ed by donors or vthich have been raised by the Charity for pa'cular purposes. The cosls of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is Bel out in the notes lo tho financial $talem?nls. Investment Income, gains and losses are allocated to the appropriate fund. Income from don•tlon• and l•g•cle• Re•trlcted Unmtrlcted fund• fund$ 2024 2024 Totsl funds 2024 Tot81 funds 2023 Don8tson$ Grants Slmllar incoming resource5 210,306 99,928 5.808 210,306 173,595 5,808 286,874 150. 105 2,822 73.667 73,667 316,042 389.709 439,801 Total 2023 38,077 401,724 439,801 Page15
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Incom• from charitabl• actlvltl•s Unrostrfctsd fund$ 2024 Tot•1 funds 2024 To181 lunds 2023 Foodbank operaUong- Donated goodJ 282,816 282,816 422,600 InvMtm•nt Incom• Unmtrlctod fundB 2024 Total fund¥ 2024 Total runds 2023 Interest received 6,290 0,290 1,964 Expondlture on ralslng fund• Costs of ril•lng voluntary Income Unr•strlctsd fundg 2024 Ti>tal fund• 2024 Tot81 funds 2023 Fundraising expenses 204 204 2,272 Page 16
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analy$ls of •xp•ndlturn on charltablo actlvltl?s Summary by fund typo Re•trlct•d Unro8trlct•d fund funds 2024 2024 Total 2024 Total 2023 Foodbank operations- Monetary expenditure Foodbank operats"on8- Donated goods 65,637 441,843 282,818 507,480 282,816 257,484 422,600 65.637 724.659 790,298 680,084 Tol812023 55.036 625,048 680,084 Sumrnary by eXpendIr• ty Staff colts D•pr•clatlon Oth•r GO•ts 2024 2024 2024 Tot•1 2024 Total 2023 Foodbank operatlon8- Monetary expenditure Foodbank operation8 - Donated goods 103,440 7,040 397,000 507.480 257,484 282,818 282,816 422,600 103,440 7,040 679.816 790,290 680,084 Tot812023 69, 141 7,006 603,937 680,084 Indop•ndent 8xamlMts r•munor•tlon 2024 2023 Fees payable to the Charitys independent examiner for the independ¢nt examinaOn of the Charity's annual accounts 2.760 2,670 Page 17
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E14DED 30 SEPTEAIBER 2024 Staff c¢$1• 2024 2023 Wages and salaries Contribution lo defined contribution pension schemes 98,142 5,298 64,881 4,260 103.440 69,141 The average number of person8 employed by the Charity during the year was 88 follow8.. 2024 No. 2023 No. Staff No employee received remuneration amounting to more than £60,000 in elther year. The charlty'$ key management personnel are the Irusteg5 {vtho glve Ihelr tlme voluntarflyl and the Foodbank Manager. Total remuneration for key management personnel amounted to £23.296 12023 £19.5631. 10. Trust••$' r•mun•ratlon and •xponses During the y¢ar, no Twslge8 received any rernunoration or other benefits (2023- £NIL). During the year ended 30 September 2024, no Trustee expenses have been incurred (2023- £NIL). Page 18
BEDFORD FOOOBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 11. Tanglblo fixed assots Motor vohicles Offlc• •qulpment Total Cost or valuatSon At 1 October 2023 Addf(ions 41,&30 3,099 6,078 46,029 6,078 At 30 September 2024 41.930 ,177 51,107 O•pr•ciatioTh Al 1 October 2023 harge for the year 21,973 4,989 1,626 2,051 23,599 7,040 At 30 September 2024 26,962 3,677 30,639 Net book v•lu• At 30 September 2024 14.968 6.600 20,468 12. Stock• 2024 2023 Goods gvall8blo for di¥trfbutlon 84,471 47,737 13. Debtorn 2024 2023 Duo within one year Prepayments and accrued inrne Gift aid recoverable 60,645 15,430 70,418 37,580 65,975 107,998 Page 19
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 14. Crnditors: Amounts falling du• wlthln one y•ar 2024 2023 other taxallon and social security Accruals and deferred Income 1,624 28,775 908 6,448 30,399 7,356 15. Stat•ffl•nt of fund# Statem•nt of ltsnd• - current y•t B#lnc• •t 8alin¢• at 1 Octob•r 2023 Transforn S•ptemb•r Inl¢ut 2024 Incom• Exp•ndltur• UnM8trlcted lund• General Fund Fixed 988et rè$erv• 609,403 21,430 605.140 1717.8231 {7.0401 16.1S8) 6.078 490.572 20.468 630,835 60S,148 1724,8831 511,040 R•8trlctsd fund8 Trugsell Trust Bedford BorDugh Coundl - Ward ftjnds 14,308 67,367 169,257) 3,802 6,300 18,3801 14,3081 73.667 165,6371 80 3,802 Total of fund• 626.627 678,815 1790,5001 514.842 Page 20
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 15. Statement of funds leontlnuedl Statoment of funds - prlor y•ar 8alance af 30 Sept&mb8r 2023 Bslance 81 l October 2022 Trnnsf813 inlout Income Expenditurg Unr•strl¢t•d ltsnd• General Fund Fixed asset reserye 405,087 26,780 826,288 (620,314) f7,006y (1,656) 1, 656 609.405 21,430 431,867 826,288 f627,320) 630,835 R•trlcted funds Trussell Trugl 12,651 38,077 f55,036) 14,308) Total of funds 444,518 864,365 (682,356) 626.527 G•nor•l Fund•: The majority of the ¢harMs Income and expenditure is for the purpose of runnlng the Bedford Foo(Jbank and is, therefore, freely avallable lo be ujed for any ch8rilable purpose. Flxod A8*•t Ro8•rv0: The charity rnaintain$ a fixed 89sel reserve, equivalent lo the value of fixed as8ets held for use by the chartly. Depreciation is charged lo the fixed asset reserve and additions are recognised by way of transfer befven fund8. Restrlctsd Funds.. Trussell Trust.. The charity conts'nued lo receive funding from the TTu¥$ell Trust amounting to £77,472 (2023 £43,788), of whlch £10,105 12023 £5,711) was lo be treated as an unreslricled rontributs'on towards operational overheads and £67,367 12023 £38,077) wa5 to be treated a$ restrieted fund3, to enable the charity lo receive support from the Citizens Advice Bureau ICABI. A CAB advisor attended each of the distribution cenlres during the year, offering adwce on budgeting and debt management. Costs of tre CAB advisor amounted to £59,257 and has contsnued beyond the reporting date. Bedf¢rd Borough Council - Ward funds.. during the year, four wards wlhin Bedford Borough Council contributed a total of £6.300 for the charity lo purchase food. Purchases of food from these grants omounled to £6,380, hence £80 of the charity's own funds was used to cover the shortfall and reported by way of a transfer betsveen lund5. Page 21
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 16. Summary of funds Summary of fundg - ciirrent yèar Balance at 30 Transfer# Septemhr Inlout 2024 Balance at 1 October 2023 Income Expendlturg General funds Re8trfct&d funds 630,835 14,308) 605.148 73,687 1724.8831 165.6371 (801 811.040 3,802 826,527 678,815 1790,6001 514,842 Summary of funds- prior year 8alance et 30 Sèptember 2023 Balance al l Oclob8r 2022 Tr8nsf8rs in/out Income Expenditure G•neral fund8 Re8trfcted fund¥ 431,867 12,651 826,288 38.077 (627,320) ($5.036) 630,835 (4,308J 444,518 864,365 (682,356) 626,527 17. Analy¥l• of net a•80ts botw••n fund> Analys18 of n•t a•80ts b•IOn fund• - curront porlod R•strictsd Unr•$trlcted fund$ fund8 2024 2024 Totsl funds 2024 Tangible fixed assets Current assets Creditor3 due wlthln one year 20.468 520,971 130,399) 20.468 624,773 130,3991 3.802 Total 3,802 511,040 514.842 Page 22
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 17. Analysis of net asB•ts botwo•n funds Icontlnu•dl Analys18 of net assets betOn fund8 - Prtor pèrlod Reslricted unrestrled funds lunds 2023 2023 Total funds 2023 Tangible fixed assets Current a$¥els Credllors due wlhin one year 21,430 616,761 (7,356) 21,430 612,453 (7,356) {4.308J Total (4,308) 630,835 626,527 18. Reconclll•tlon of net mov•m•nt In fund• lo n•t c••h flow fmm operatlng actlvlti 2024 2023 Net incomeloxpendrturo for the period las per Statement of FlnancS41 Aclivllieyl 1111,88SI 182,009 AdJu•tments for: Oepreciatlon charge8 Dividends, interes13 and rents froln inveytments Increase in stocks Oecreasel{increasel In deblorj Incre•ge in creditor& 7,040 16,290 136,734 42,023 23,043 (1,964? (18, 756) (70,968) Net ca•h provld•d bylluvd In} op•ratlng acllYltl•i {82,603 97,615 19. Anal18 of cash and cash equlv•lgnts 2024 2023 Cash in hand 374.327 456,718 Total cash and cash equivalent• 374,327 456,718 Page 23
BEDFORD FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3D SEPTEMBER 2024 20. Analysls of chang0$ In not dobt At1 Octob•r 2023 Ca•h flov At30 8•ptemb•r 2024 Cosh at bank and In hand 456,718 182,3911 374.327 45fj.718 {02,3911 374,327 21. Oyrallng184•e commltmonts At 30 S•ptember 2024 the Charity had commltment8 lo make future mlnimum lease payments under nonweancellable operating lease5 a5 follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 yearB Lglor thon 5 years 93,100 374,400 358,800 86,000 312,000 377,000 826,800 775,000 Page 24