2023-12-31-accounts

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

CHARITY REGISTRATION NUMBER: 1180382

Independent Food Aid Network Unaudited Financial Statements

31 December 2023

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Financial Statements

Year ended 31 December 2023

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	9
Statement of financial activities	10
Statement of financial position	11
Notes to the financial statements	12

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report

Year ended 31 December 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

Reference and administrative details

Registered charity name Independent Food Aid Network Charity registration number 1180382 Principal office 71-75, Shelton Street London WC2H 9JQ

The trustees

Dr K Garthwaite - Treasurer Cllr K Akinola Ms D Woods - Chair Dr M Power Mr R Makwana (Resigned 30 April 2024) Prof J May Ms F Boshorin Dr S Furey Independent examiner Nicola Jane Cadwallader For and On Behalf of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Bicester Oxon OX26 1TD

Structure, governance and management

The charity was registered under its Governing document as a Charitable Incorporated Organisation with the Charity Commission on 19 October 2018 under Charity number 1180382.

The charity is governed by its Trustees.

1

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

Objectives and activities

The objects of the organisation are the prevention or relief of poverty in the United Kingdom by providing:

 grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty

 to prevent or relieve poverty through undertaking and supporting research into factors that contribute to poverty and the most appropriate ways to mitigate these

It achieves this by:

• providing a forum, promoting best practice and offering a collective voice for independent,

• grassroots food aid providers

• working with and promoting the voices of people in food insecurity

• providing opportunities for learning about the causes of food poverty

• improving provision to people in need of food

• conducting and promoting critical, open-access research relating to food poverty

Public Benefit Statement

In setting the objectives of the Charity and planning our activities, the trustees have paid due regard to the public benefit guidance published by the Charity Commission.

2

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

Achievements and performance

Throughout 2023, IFAN's small team continued to advocate for a 'cash first' approach to food insecurity on a national and local level in pursuit of its vision of a country without the need for charitable food aid where adequate and nutritious food is available to all. IFAN also continued to support and represent its member organisation teams (food banks and other charitable food aid providers) doing their utmost to support increasing numbers of people unable to afford food as they faced significant challenges to cope with demand.

IFAN's board of trustees has seen no changes in 2023 and continues to be chaired by Dee Woods. Dr Kayleigh Garthwaite remains Treasurer. All full-time staff members remained in post: Sabine Goodwin as Director, Maria Marshall as Project Manager, Abby Preston as Project Officer, and Emma Österberg also as Project Officer. In May 2023, IFAN hired a part-time Finance Officer, Jo Finnerty. In August 2023, Ashleigh Haney started to work some 'Keeping in Touch' days and in November she rejoined IFAN on a a part-time basis as Project Officer. Throughout 2023 IFAN has been supported by our volunteer Anna Gavurin who was joined by another volunteer Clare Gavurin in the Autumn of 2023.

IFAN collated and reported on data contributed by its member organisations in February, August, April, and November of 2023. IFAN has consistently reported that independent food banks are struggling to cope with rising demand as food and financial donations have fallen and volunteer and staff burnout has meant food banks are struggling to cope. IFAN has been able to widely share the message that a charitable food aid response to food insecurity is both unsustainable and ineffective. IFAN has worked to amplify the voices of independent food bank managers representing member organisations through these reports and by connecting them to journalists and academics. IFAN's reports have been shared on social media, within the anti-poverty sector and with civil servants, MPs, and journalists. Media coverage of IFAN's data reporting has included reports in print in The Guardian, The Observer, The Independent, The Mirror, The Express and the Big Issue as well as radio coverage on BBC Radio 4 Sunday. IFAN's data has been referenced in various reports and briefings including the Environment, Food and Rural Affairs (EFRA) Committee Report on Food Security and the latest House of Commons Library Food Banks in the UK report.

Further media coverage referencing IFAN's advocacy on a cash first approach to food insecurity included two radio interviews on LBC with IFAN's director Sabine Goodwin linked to the launch of the King's Coronation Food Project as well as an interview with Paul Lewis on BBC Radio 4 Money Box on the rise of baby banks. Sabine was also interviewed on BBC News South East on this subject following a piece in The Guardian linked to her comments on royal patronage of baby banks and the ineffectiveness of a a charitable response to poverty. Sabine was also invited to be a panellist on a BBC Money Box Live programme on the cost of food in March 2023.

Sabine has also written numerous opinion pieces for the Big Issue, The BMJ and IFAN's blog page in 2023. Her most recent piece for the Big Issue was in response to King Charles' launch of the Coronation Food Project with the support of the same publication. In this piece, Sabine highlighted the danger of conflating the problems of food waste and food poverty. Earlier in the year, Sabine, Dr Kayleigh Garthwaite and Professor Graham Riches wrote to The Observer alongside many academics and activists on this issue. They pointed out: "While the expansion of organised surplus food redistribution might seem like a win-win solution, this practice fails to reduce food waste levels while undermining policies designed to address food insecurity."Their letter, Guaranteeing food for all, was published in March 2023.

Sabine and IFAN's project manager, Maria Marshall, co-wrote a letter to The Guardian in response to an opinion piece by Gordon Brown that was published in November 2023. Another significant piece by both Sabine and Maria was their joint blog on Cash First and the Right Food that was published in May 2023. Sabine and Maria also contributed to the Coventry University Research Centre for Agroecology, Water and Resilience Policy Brief on the Right to Food.

3

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

IFAN has continued to advocate for a cash first approach to food insecurity through engagement with policy makers and elected representatives. In January 2023, Maria contributed oral evidence to the AllParty Parliamentary Group (APPG) on Ending the Need for Food Banks. This evidence was referenced in the APPG's subsequent report Cash or food: Exploring effective responses to destitution. In February 2023, IFAN responded to the call for input from the United Nations (UN) Special Rapporteur on the right to food on 'Violence and the right to food.' IFAN's submission was published on UN Human Rights Office of the High Commissioner website. Sabine gave evidence to London Economy Committee in October 2022 and the London Assembly Committee's subsequent report Food Insecurity in London was published in April 2023 making numerous mentions of a cash first approach to food insecurity. IFAN was invited by the Ministry of Justice to participate in their stakeholder engagement event focussed on the International Covenant on Economic, Social and Cultural Rights in November 2023. Throughout the year, Sabine and Maria have attended meetings with DWP, Scottish Government and Welsh Government officials during which they have been able to report on the situation on the ground and advocate for a cash first approach to food insecurity.

Throughout 2023, Sabine has continued to represent IFAN on the Scottish Government's Steering Group on Ending the Need for Food Banks linked to its plan Cash-First: Towards Ending the Need for Food Banks in Scotland. In May 2023, Sabine was invited to attend an anti-poverty summit hosted by the new First Minister in Edinburgh. She co-wrote a blog linked to the Scottish Government's longawaited plan to end the need for food banks with the Head of Trussell Trust Scotland just before the summit.

Once it was finally published, one of the actions in the Scottish Government's plan on ending the need for food banks once was the Food Insecurity Pilot run by Citizens Advice Scotland. IFAN contributed to this pilot by presenting information on a cash first approach to food insecurity at an initial stakeholder engagement meeting and by facilitating a survey of food aid providers in pilot areas which will feed into the project's evaluation report.

IFAN has made a contribution to urgent discussions about the most appropriate way to support increasing numbers of parents and carers struggling to afford to feed their infants. IFAN has played a role in the Scottish Government's Short Life Working Group on infant food insecurity set up during the summer of 2023. Maria and IFAN's project officer Emma Österberg contributed presentations on IFAN's cash first referral leaflets and evidence on infant food insecurity and food bank practice in relation to the provision of formula milk at two stakeholder roundtable discussions in Glasgow. IFAN has also developed a version of their Money Counts training course linked to their cash first referral leaflets specifically for support workers helping parents and carers unable to afford food. IFAN contributed to FEED guidance for food and baby banks and has published three briefings relating to infant food insecurity and a cash first approach linked to specific data collated from their members on the subject. IFAN's latest report on this issue, Reducing food insecurity in UK households with infants, was published in December 2023 and was featured in The Guardian alongside comments from Sabine. During 2023, IFAN also produced and shared an infographic to help embed a cash first approach in infant feeding referral pathways.

IFAN has continued to advocate for adequate, accessible, and prompt crisis payments in cash at a local authority level and shared examples of best practice. In Cornwall, IFAN has continued to collaborate with the Trussell Trust, Transformation Cornwall and Cornwall Council to improve the availability and accessibility of local financial support by co-delivering Money Counts training sessions, publishing and disseminating Cornwall 'Worrying About Money?' leaflets and posters thanks to funding from Cornwall Council, jointly holding an in-person discussion forum in June in St Austell, contributing a joint report and interventions to Cornwall Council's strategic work on the cost-of-living crisis in Cornwall and co-producing a presentation by Cornwall Council at a conference led by Dr Rachel Loopstra (Understanding the impacts of local authority responses to the cost-of-living crisis on food insecurity) at Liverpool University in July 2023 on our joint work aimed at reducing financial hardship in

4

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

in Cornwall. IFAN published a joint blog on this collaborative work in June 2023. Our joint report, Finding ways to improve availability and access to financial support in Cornwall, was published in August 2023 following our in-person event in St Austell.

Throughout 2023, IFAN has run a project to identify levels of local authority cash first support in England. This work, focused in areas where there are IFAN cash first referral leaflets in circulation, has been undertaken by IFAN's volunteer Anna Gavurin who has painstakingly collated information on how local authorities are distributing any crisis support and the Household Support Fund. Later in the year, Anna was joined by IFAN's new volunteer Clare Gavurin. This invaluable research has allowed IFAN to build a web page entitled Can you get cash in a crisis? The page uses a traffic light system to identify which local authorities are distributing support by way of cash payments and IFAN will use this resource to highlight the benefits of a cash first approach to food insecurity at a local level.

In work led by IFAN's project officers Abby Preston in England and Wales and Emma in Scotland, IFAN has worked to further co-develop 'Worrying About Money?' cash first referral leaflets in England, Wales, Scotland, and Northern Ireland as well as to keep existing resources up to date. IFAN aims to update the 'Worrying About Money?' resources at least every six months or as amendments are required. There are now over 120 cash first referral leaflets covering 112 local authorities. Funding from the William Kessler Family Charitable Fund, London Plus and the GLA, and the Scottish Government has made the extent of this work possible. The leaflets are now available in PDF, hard copy, one-page poster, interactive, translated, Easy Read, and audio formats. The various resources are proving to be invaluable assets in our collaborative work with multiple partners to cement a cash first approach to food insecurity in local communities across UK. In 2023, IFAN published reports on their work to co-develop, publish, and disseminate cash first referral leaflets in Scotland and England. IFAN published a blog by a Trussell Trust food bank manager about co-developing a local cash first referral leaflet in April 2023. Abby and Emma co-ran or participated in numerous in-person and online launch events linked to individual leaflets. Abby, Emma, Maria, and Sabine also contributed to various in-person and online events with presentations and interventions on a cash first approach to food insecurity and the cash first referral leaflets. For example, Maria and Abby led an online event in December for England's Money Guiders' network - 'Ending the food bank paradox with cash first'.

Through the course of 2023, IFAN has co-delivered a total of 20 'Money Counts' training sessions linked to cash first referral leaflets both online and in person. These sessions are designed for frontline volunteers and support workers to help build confidence and share information on local cash first support as they support people facing money worries and financial crisis. Thanks to funding from London Plus and the Greater London Authority (GLA), IFAN has been working with local partners to deliver London Money Counts training across London boroughs since March 2023 both online and in person. This funding also allowed IFAN to cover further leaflet and poster print runs and to commission additional translated versions. As an extension of this work, Emma delivered two in-person 'Talking about Money' sessions alongside Perth and Kinross Citizens Advice at their November Cultivating Collaboration and Change through the Cost-of-Living Crisis Conference. The workshops introduced the 'Worrying About Money?' leaflet as a tool for starting money worries' conversations and provided a space to share best practice. In February 2023, IFAN's online event 'Building Cash First' was attended by over 100 people and brought together stakeholders who have worked on the cash first referral leaflet project across the UK to share best practice.

IFAN has advocated and reported on the benefits of a cash first approach to food insecurity more widely through various online and in-person events. In Scotland, the delayed publication of the Scottish Government's plan on ending the need for food banks provided the context for IFAN and the Trussell Trust to co-host a conference entitled A Cash First Future. The event held in Glasgow in March 2023, brought together people working with local authorities, the advice sector, the NHS, food banks, food pantries, social supermarkets, food redistribution charities, anti-poverty charities as well as the Scottish Government and other elected representatives to share learning, perspectives and plans to build a cash first future. Break-out workshops and plenary sessions covered both what a cash first future could look like and how it could be put into practice. IFAN published a joint report with the

5

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

Trussell Trust based on learning from the conference in November 2023.

The Scottish Government finally published its plan towards ending the need for food banks in June 2023. Commenting on this, Sabine wrote an opinion piece for the Big Issue entitled Could food banks be relegated to the history books? A few months later, IFAN co-hosted an event at the SCVO's The Gathering conference in November, again with the Trussell Trust. The event, 'Building a cash first future: Can we make food banks history in Scotland?' brought together campaigners from across different sectors to consider what a cash first future looks like in the context of the Scottish Government's national plan towards ending the need for food banks and included a keynote speech from Shirley-Anne Somerville MSP, Cabinet Secretary for Social Justice. Sabine has also represented IFAN on the advisory group of a Trussell Trust-led project on financial inclusion in Scotland.

Alongside Greater Manchester Poverty Action (GMPA), IFAN co-hosted a fringe event at the Labour Party Conference in Liverpool in October entitled 'Cash First is Common Sense'. Panellists including Tom Pollard of the New Economics Foundation, Polly Jones of the Trussell Trust, Antonia Bance of the Trades Union Congress, Jen Coleman of IFAN member the Black Country Foodbank and Sabine Goodwin of IFAN spoke about the need for commitments to a cash first approach to food insecurity. The very well-attended session was chaired by GMPA's Graham Whitham.

IFAN has also used its template letter to MPs to advocate for a cash first approach to food insecurity. The letter, available on IFAN's website, is adapted according to latest policy developments and can be downloaded by members of the public. In December 2024, Sabine wrote a blog, Appealing for Change - Glossing over the causes of poverty might elicit donations but there's a harsh reality to be faced, about the need to campaign for change alongside providing donations.

IFAN has continued to play a role within wider anti-poverty alliances which has provided other opportunities to advocate for income-focused solutions to poverty. IFAN also supports several joint campaigns focussed on reducing poverty and often contributed quotes to the Stop the Squeeze campaign in 2023. IFAN and individual IFAN member organisations supported the Guarantee our Essentials campaign run by the Joseph Rowntree Foundation and the Trussell Trust.

In February 2023, IFAN jointly ran two webinars in our Structural Inequalities webinar series alongside Feeding Britain and the University of York. Both A route out of poverty: The effect of low wages and insecure work on food insecurity and State sanctioned hunger: Sanctions, deductions and rising food insecurity were very well-attended and provided IFAN opportunities to call for a cash first approach to food insecurity.

During 2023, Sabine was engaged on behalf of IFAN as a consultant for ScotCen's research project on behalf of the Trussell Trust looking at disability and financial hardship. The final report, Disability and financial hardship: How disability benefits contribute to the need for food banks in the UK, was published in October 2023.

IFAN has also used its by now well-known infographics to advocate for a cash first approach to food insecurity. IFAN distributes the infographics via social media and as A6 postcards. A new infographic, Cash First: Ending the need for charitable food aid, was designed, and published in 2023.

IFAN has continued to use Twitter as its main social media platform and has instigated a plan to use Instagram, Linkedin, and Facebook more frequently. IFAN has also sent out regular newsletters.

In 2023, IFAN continued to support member organisations through numerous member meetings focussed on issues of concern ranging from government policy changes to food supply problems. These regular sessions for UK-wide members and Scotland members facilitated critical informationsharing and provided valuable opportunities for members to be able to connect with each other.

6

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

In 2023, IFAN has supported member organisations by connecting members to practical help and upto-date resources. IFAN ensures its members' funding opportunities page is kept as up-to-date as possible and regularly support member organisations with changes such as introducing the distribution of shopping vouchers and gift cards to their operations.

IFAN has supported members with practical concerns by facilitating dialogues with government agencies and departments. For example, IFAN facilitated a meeting for London members with Transport for London during the rollout of the Ultra-Low Emissions Zone and has been able to help with members' individual concerns around this change. And in September 2023, IFAN facilitated a meeting between IFAN member and Department for Work and Pensions (DWP) civil servants about Jobcentre referrals and sanction increases.

IFAN has done its utmost to keep its member pages up to date to include as much relevant and useful information for member organisation as possible. Most pages for members are restricted for use by members only but our web page on Nutritional Guidelines for food parcels are made publicly available and are used by a variety of frontline services.

IFAN has continued to send out regular member updates providing news and information pertaining to IFAN's advocacy, developments set to impact members and practical support.

In October 2023, IFAN facilitated an in-person meeting in Huddersfield for the first time since the pandemic. Representatives of member organisations congregated at the Huddersfield City Mission for a four-hour session. This meeting allowed food bank managers and team members an opportunity to share concerns, ideas, and best practice. Charlotte White, manager of IFAN member Earlsfield Foodbank, said of the day that there were "many valuable discussions including on volunteer fatigue, supply pressures, cash first and, of course, how worried we are about the winter ahead." Charlotte referred to this meeting in one of her regular pieces for the Big Issue.

IFAN's team has also been asked to speak at events and meetings held by member organisations. In July 2023, Sabine, Maria, Abby, and Emma all met online with the board of trustees of IFAN member the Glossopdale Foodbank to discuss the merits of a cash first approach to food insecurity. In September 2023, Abby travelled to Winchester to speak at IFAN member the Winchester Basic Bank's AGM about a cash first approach to food insecurity. And in November 2023, Sabine travelled back to Huddersfield to speak at IFAN member The Welcome Centre's AGM again about a cash first approach to food insecurity.

In 2023, IFAN established a FAQ page on our website to help with queries from members of the public. IFAN involved member organisation feedback in developing these questions and answers.

7

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Trustees' Annual Report (continued)

Year ended 31 December 2023

Financial review

Major sources of income:

IFAN's major sources of income have been from:

• the Aurum Charitable Trust

• Scottish Government funding

• London Plus

• The William Kessler Family Charitable Fund

• and funding through donations from the general public

Total income for the year was £255,813 and total expenditure was £256,440, which resulted in a deficit of £(627). This compares to a surplus of £149,700 for the previous year. Funds held at 31 December 2023 were £236,051 of which £232,345 was unrestricted and £3,706 was restricted (At 31 December 2022 £233,842 were unrestricted and £2,836 was restricted, a total of £236,678).

Reserves Policy

The Trustees have set a policy of holding 5 months operating costs in unrestricted funds to enable the charity to meet all of its liabilities should operations have to cease at some point in the future. Based on our annual operating budget, and taking into account our designated funds (£120,000), current reserves at the end of 2023 were equivalent to the agreed 5 months of unrestricted funds.

3/5/2024

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Dr K Garthwaite Treasurer

8

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Independent Examiner's Report to the Trustees of Independent Food Aid Network

Year ended 31 December 2023

I report to the trustees on my examination of the financial statements of Independent Food Aid Network ('the charity') for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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.

Nicola Jane Cadwallader Independent Examiner

For and On Behalf of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Bicester Oxon OX26 1TD 3/5/2024

9

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Statement of Financial Activities

Year ended 31 December 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	185,848	69,965	255,813	340,891
		���������	��������	���������	���������
Total income		185,848	69,965	255,813	340,891
		���������	��������	���������	���������
Expenditure
Expenditure on charitable activities	5,6	185,913	70,527	256,440	191,191
		���������	��������	���������	���������
Total expenditure		185,913	70,527	256,440	191,191
		���������	��������	���������	���������
		���������	��������	���������	���������
Net (expenditure)/income		(65)	(562)	(627)	149,700
		���������	��������	���������	���������
Transfers between funds		(1,432)	1,432	–	–
		���������	��������	���������	���������
Net movement in funds		(1,497)	870	(627)	149,700
Reconciliation of funds
Total funds brought forward		233,842	2,836	236,678	86,978
		���������	��������	���������	���������
Total funds carried forward		232,345	3,706	236,051	236,678
		���������	��������	���������	���������

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 12 to 18 form part of these financial statements.

10

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Statement of Financial Position

31 December 2023

		2023	2022
	Note	£	£
Current assets
Cash at bank and in hand		243,598	242,617
Creditors: amounts falling due within one year	10	7,547	5,939
		���������	���������
Net current assets		236,051	236,678
		���������	���������
Total assets less current liabilities		236,051	236,678
		���������	���������
Net assets		236,051	236,678
		���������	���������
Funds of the charity
Restricted funds		3,706	2,836
Unrestricted funds		232,345	233,842
		���������	���������
Total charity funds	12	236,051 ���������	236,678 ���������

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:3/5/2024

Dr K Garthwaite Treasurer

The notes on pages 12 to 18 form part of these financial statements.

11

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements

Year ended 31 December 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 71-75 Shelton Street, London, WC2H 9JQ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

12

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

13

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Financial instruments (continued)

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

14

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Unrestricted grants and donations	97,848	–	97,848
Dyers	8,000	–	8,000
Scottish Government	–	37,065	37,065
Aurum Charitable Trust	–	20,000	20,000
Cornwall Council	–	–	–
ScotCen consultancy fee	–	2,000	2,000
London Plus Grant - Project	–	10,900	10,900
William Kessler Family Trust	80,000	–	80,000
	���������	��������	���������
	185,848	69,965	255,813
	���������	��������	���������
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Unrestricted grants and donations	180,317	–	180,317
Dyers	8,000	–	8,000
Scottish Government	–	48,874	48,874
Aurum Charitable Trust	–	20,000	20,000
Cornwall Council	–	3,700	3,700
ScotCen consultancy fee	–	–	–
London Plus Grant - Project	–	–	–
William Kessler Family Trust	80,000	–	80,000
	���������	��������	���������
	268,317	72,574	340,891
	���������	��������	���������
Expenditure on charitable activities by fund type
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Research, connect, support and advocacy	184,753	70,527	255,280
Support costs	1,160	–	1,160
	���������	��������	���������
	185,913	70,527	256,440
	���������	��������	���������
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Research, connect, support and advocacy	115,621	74,466	190,087
Support costs	1,104	–	1,104
	���������	��������	���������
	116,725	74,466	191,191
	���������	��������	���������

5. Expenditure on charitable activities by fund type

15

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

6. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2023	2022
	£	£	£	£
Research, connect, support and
advocacy	255,280	–	255,280	190,087
Governance costs	–	1,160	1,160	1,104
	���������	�������	���������	���������
	255,280	1,160	256,440	191,191
	���������	�������	���������	���������

7. Independent examination fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	1,160 �������	1,104 �������

8. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2023	2022
	£	£
Wages and salaries	116,328	43,515
Social security costs	7,283	4,338
Employer contributions to pension plans	1,553	860
	���������	��������
	125,164	48,713
	���������	��������

The average head count of employees during the year was 6 (2022: 4).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

9. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

One of the trustees has claimed expenses or had their expenses of £160 met by the charity.

There were no other trustees expenses in the period.

16

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

10. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	1,154	1,104
Social security and other taxes	5,437	4,217
Other creditors	956	618
	�������	�������
	7,547	5,939
	�������	�������

11. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,723 (2022: £2,338).

12. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
							At
	At	1	January			31	December
			2023	Income	Expenditure	Transfers	2023
			£	£	£	£	£
General funds			233,842	185,848	(185,913)	(1,432)	232,345
			���������	���������	���������	�������	���������
							At
	At	1	January			31	December
			2022	Income	Expenditure	Transfers	2022
			£	£	£	£	£
General funds			82,250 ��������	268,317 ���������	(116,725) ���������	– ����	233,842 ���������

17

DocuSign Envelope ID: F13EDB81-01EA-427E-A265-63A9FF20BAAD

Independent Food Aid Network

Notes to the Financial Statements (continued)

Year ended 31 December 2023

12. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
					At
	At 1 January				31 December
	2023	Income	Expenditure	Transfers	2023
	£	£	£	£	£
Nourish Scotland	–	–	–	–	–
Scottish Government	–	37,065	(38,497)	1,432	–
Aurum Charitable Trust	–	20,000	(20,000)	–	–
Cornwall Council	2,836	–	(1,720)	–	1,116
London Plus	–	10,900	(8,310)	–	2,590
ScotCen	–	2,000	(2,000)	–	–
	�������	��������	��������	�������	�������
	2,836	69,965	(70,527)	1,432	3,706
	�������	��������	��������	�������	�������
					At
	At 1 January				31 December
	2022	Income	Expenditure	Transfers	2022
	£	£	£	£	£
Nourish Scotland	(1)	1	–	–	–
Scottish Government	4,729	48,873	(53,602)	–	–
Aurum Charitable Trust	–	20,000	(20,000)	–	–
Cornwall Council	–	3,700	(864)	–	2,836
London Plus	–	–	–	–	–
ScotCen	–	–	–	–	–
	�������	��������	��������	����	�������
	4,728	72,574	(74,466)	–	2,836
	�������	��������	��������	����	�������
Analysis of net assets between funds
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
Current assets			239,892	3,706	243,598
Creditors less than 1 year			(7,547)	–	(7,547)
			���������	�������	���������
Net assets			232,345	3,706	236,051
			���������	�������	���������
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
Current assets			239,781	2,836	242,617
Creditors less than 1 year			(5,939)	–	(5,939)
			���������	�������	���������
Net assets			233,842	2,836	236,678
			���������	�������	���������

13. Analysis of net assets between funds

14. Related parties

There were no related party transactions which require disclosure under FRS102.

18