THE FOREST FOODBANK FINANCIAL STATEMENTS 31ST DECEMBER 2023 IKnights Accountants and Tax Advisor8
THE FOREST FOODBANK
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
INDEX
| Pages |
|
|---|---|
2 |
Administrative Information |
| 3 to 5 | Report of the Committee |
| 6 | Independent Examiner’s Report |
| 7 | Balance Sheet |
| 8 | Income and Expenditure Account |
| 9 | Notes to the Accounts |
1
THE FOREST FOOD BANK
ADMINISTRATIVE INFORMATION
COMMITTEE: Mr A. Garbutt - Chair and Treasurer Mrs. Y. Wood Mrs D. Beard Mrs L. Smallpage- Mitchell Eastern United Site PRINCIPAL ADDRESS: Ruspidge Road Cinderford Gloucestershire GL14 3AW
INDEPENDENT Knights EXAMINER: Accountants and Tax Advisors 21 Highnam Business Centre Highnam Gloucester GL2 8DN
2
THE FOREST FOODBANK
COMMITTEE REPORT
PRINCIPAL OBJECT AND STATUS OF CHARITY
The organisation is registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission, reference number 1183196, is governed by a constitution dated 14[th] August 2020 and operates from Eastern United Site, Ruspidge Road, Cinderford, Gloucestershire, GL14 3AW.
OBJECTIVES
The objectives of the Charitable Incorporated Organisation (CIO) are:
-
To relieve persons throughout The Forest of Dean and outlying areas, and in such ways as the trustees from time to time think fit, in particular, but not exclusively by:
-
In furtherance of the first object, to supply goods to beneficiaries, either directly or through agency partners approved by the Trustees. Goods to include (but not limited to) food, including tinned and dried foods, to ensure a healthy, balanced and nutritious diet sufficient for am minimum of three days at a time; essential toiletries, household items, clothing as available, fuel poverty support where provision of such services does not compromise the primary purpose of the (CIO).
-
To do any other thing consistent with the primary purpose of the CIO, including (but not limited to) the provision of support or signposting to relevant information and other advisory services.
ACHIEVEMENTS AND PERFORMANCE
The Forest Foodbank is a charity that enables the community in and around the Forest of Dean to meet the emergency food needs of those within the same community who are at crisis point in their lives.
During the period to 31[st] December 2023, The Forest Foodbank has provided emergency food for approximately 3,400 (including approximately 1,300 children), distributing 34,000kg of food and essential household supplies. This represented a 10% year-on-year increase in the quantity of food supplied versus the year to 31[st] December 2023.
The ‘Foodbank’ has returned to the distribution model used prior to COVID-19 restrictions and operated half-day opening distribution centres in 3 locations where demand is greatest, providing coverage for Cinderford, Coleford and Lydney. Clients either travel to the nearest location or delivery is provided for those unable to attend in person.
3
THE FOREST FOODBANK
REPORT OF THE COMMITTEE
FINANCIAL REVIEW
The reporting period saw the first full year of the newly established Forest Foodbank CIO following separation from Coleford Baptist Church.
General donations continued as a similar monthly rate to the previous year, providing sufficient funding to support the activities of the charity without having to utilise cash reserves. Grant funding was received during the period to contribute to the employment of key staff, for the provision of food and warm clothing for clients over the winter period and the first instalment of a financial inclusion grant was received to provide additional advice services to client starting in 2023.
The introduction of paid staff has significantly increased payments, however this is mostly offset by grant funding secured for this purpose from the Trussell Trust. Premises costs were also impacted by a one-ff refit of the warehouse which was required to increase storage capacity and improve safety by providing suitably rated equipment for the weight of goods being handled which will provide a fit-for-purpose facility for the foreseeable future.
The organisation has cash reserves of £247,482 as at 31[st] December 2023 (2022 - £232,196), which is held in Lloyds Bank current and deposit accounts.
The Trustees are satisfied that they have sufficient reserves at the Balance Sheet date, together with the ongoing income anticipated, to enable the organisation to function effectively and deliver strategic plans for the coming year.
4
THE FOREST FOOD BANK
REPORT OF THE COMMITTEE
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
Select suitable accounting policies and then apply the consistently; Observe the methods and principles in the Charities SORP; Make judgement and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards 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 appropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Financial Statements and Reports) Regulations and the provision of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
Louisa Smallpage-Mitchell
………………………………………
Trustee
29/10/2024
………………………………………. Date
5
INDEPENDENT EXAMINER’S REPORT TO
THE FOREST FOODBANK
We report on the accounts of The Forest Foodbank for the period ended 31[st] December 2023.
BASIS OF INDEPENDENT EXAMINER’S REPORT
Our examination was carried out in accordance with the General directions given by the Charity Commissioners, section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable directions given by the Charity Commission under section 145 (5)(b) of the Act.
An independent examination includes a review of the accounting records kept by the association and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as the committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to our attention:
- (1) which gives us reasonable cause to believe that, in any material aspect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act 2011:
and to prepare accounts which accord with the accounting records and to comply with the accounting requirement of the Charities Act 2011.
have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached.
Knights Accountants and Tax Advisors 21 Highnam Business Centre Highnam GLOUCESTER. GL2 8DN
Date: 31 October 2024
6
THE FOREST FOODBANK
BALANCE SHEET
AS AT 31[ST ] DECEMBER 2023
FIXED ASSETS Plant and machinery Fixtures and fittings Computer Equipment CURRENT ASSETS Prepayments Bank Accounts – Lloyds Bank Current Account Lloyds Bank Deposit Account CURRENT LIABILITIES Creditors – amounts falling due within 1 year (Note 2) NET CURRENT ASSETS NET ASSETS REPRESENTED BY: GENERAL FUND Balance Brought Forward _(_Deficit)/Surplus of income over expenditure Balance Carried Forward |
2023 £ 571 9,381 1,011 336 37,952 209,530 247,818 384 244,740 13,572 |
£ 10,963 247,434 258,397 258,312 |
2022 £ NIL 11,037 1,602 379 32,013 200,093 232,485 384 152,114 92,626 |
£ 12,639 232,101 244,740 244,740 |
|
|---|---|---|---|---|---|
7
Approved by the Committees on 29 October 2024 and signed on its behalf by:
Louisa Smallpage-Mitchell-vice chair
8
THE FOREST FOODBANK
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER 2023
| 2023 £ INCOME Donations 58,456 Grant Income 73,659 Sundry Receipts - Deposit Account Interest 1,937 EXPENDITURE Purchases and consumables 46,921 Wages 28,051 Pensions 2,043 Rent 5,940 Insurance 643 Light and heat 202 Telephone 1,612 Post and stationery 91 Advertising 939 Travel expenses 3,476 Repairs and renewals 190 Computer & I.T. costs 254 Miscellaneous expenses 1,221 Volunteers entertaining 503 Accountancy 468 Professional fees 25,489 Bank charges - Other penalties and interest 100 Depreciation – Plant & Machinery 90 Depreciation- Fixture & Fittings 1,655 Depreciation- Comp Equipment 592 (DEFICIT)/SURPLUS OF INCOME OVER EXPENDITURE FOR THE YEAR |
2022 £ £ £ 54,692 84,678 - 86 134,052 139,456 14,789 17,230 1,402 5,580 570 176 824 49 - 3,444 390 17 39 576 384 344 64 - - 761 190 120,480 46,830 13,572 92,626 |
|---|---|
9
THE FOREST FOODBANK
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
1. ACCOUNTING POLICIES
(a) Accounting Convention
The accounts are prepared under the historical cost convention on an accruals basis.
(b) Accounting by Charities
The recommendations of SORP2 (Accounting by Charities) have been followed in the preparation of these accounts.
(c) Fund Accounting
The Charity’s general fund consists of funds which the Association may use for its purpose at its discretion.
2. CREDITORS
£
Accrued expenses 384
10