**Charity number: 1184482** ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 4 APRIL 2023** ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 5| |**Independent examiner's report**|6 - 7| |**Statement of financial activities**|8| |**Balance sheet**|9| |**Statement of cash flows**|10| |**Notes to the financial statements**|11 - 21| **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 4 APRIL 2023** ## **Trustees** John David Bishop, Chair of Trustees Andrew Thomas Tranter, Trustee Roger Thomas Murphy, Trustee Carol Gillian Herbert, Trustee (resigned 13 March 2023) Nicholas John Moorhouse, Trustee (appointed 13 March 2023) ## **Charity registered number** 1184482 **Principal office** 9 Tavistock Road Watford WD24 4HL **Accountants** Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Hertfordshire WD17 1HP Page 1 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 4 APRIL 2023** The Trustees present their annual report together with the financial statements of the Charity for the 5 April 2022 to 4 April 2023. ## **Objectives and activities** ## **a. Policies and objectives** The purposes of the charity as set out in its governing document is the relief of financial hardship amongst people living in and around the Watford area, by providing such persons with food and other assistance, in an effort to restore dignity and offer hope. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Activities undertaken to achieve objectives** Operation of a Foodbank to provide food and support to local people in crisis. Care professionals from over 150 local agencies assess possible clients and issue foodbank vouchers if needed. Clients exchange vouchers for food at one of five distribution points around Watford, and are offered further support as necessary. Donated non-perishable food is sorted and stored by volunteers at a warehouse and transported to distribution points as required. Community relief payments are made to clients in cases of hardship. Trustees follow Charity Commission guidance to operate the charity for the benefit of clients. ## **c. Social investment policies** Charity does not operate social investment. ## **d. Grant-making policies** Occasional hardship grants are made to clients where a relatively small sum (usually less than £500) can make a significant improvement in their circumstances. Trustee approval is required, the decision is recorded in writing, and a receipt is signed by the client. Debt repayment grants to clients are made by referral from Citizens Advice Watford, with Trustee approval. ## **e. Volunteers** Charity relies entirely on over 50 volunteers and has no paid staff. Page 2 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023** ## **Achievements and performance** ## **a. Main achievements of the Charity** 6,556 foodbank vouchers were exchanged by clients (5,005 in 2021/22) giving food supplies to 9,506 adults (7,138 in 2021/22) and to 5,572 children (4,447 in 2021/22). 2,937 vouchers (238 paper, 2,699 electronic) were exchanged at the Empire Centre distribution point (2,116 in 2021/22); 1,542 (131 paper, 1,411 electronic) at Wellspring Church Centre (1,518 in 2021/22); 1,519 (32 paper, 1487 electronic) at South Oxhey Baptist Church (1,036 in 2021/22); 399 (21 paper, 378 electronic) at St Michael and All Angels Church (261 in 2021/22); and 159 (98 paper, 61 electronic) at Christ Church (74 in 2021/22). 121,170kg of food was given out (110,443 in 2021/22) representing an average each month of 10,098kg (9,204kg in 2021/22). Most clients came from South Oxhey followed by the Central and Holywell Wards in Watford, and were in the age ranges 25-64 followed by 5-11 and 12-16. The most common reasons for crisis were low income, delays or changes in benefits, and sickness. The most common reasons for clients having multiple vouchers during the year were that they were on benefits and not earning, and that there was a reduction of benefit value. 125,465kg of food was taken in (102,256kg in 2021/22), 42% was donations at supermarkets, 15% was donations from churches, 14% was donations from individuals, and 9% was purchased. Fuel bank payments were made on over 300 occasions to clients suffering fuel poverty. Debt repayment grants to clients were made on 25 occasions. A new external room for foodbank use was commissioned at the Wellspring Church Centre distribution point. With Trussell Trust financial inclusion grants, partnership contracts were let with Citizens Advice Watford (CAW) for a free phoneline for foodbank vouchers and advice, and debt and benefits casework, and with Hertfordshire Mind Network for mental health referrals. These projects are aimed at reducing the need for clients to access the foodbank in the first place, and are beginning to bear fruit. CAW estimate over the year that 65 clients no longer need to use the foodbank. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** Trustees have identified a reserves policy which addresses the availability of our warehouse premises and our running costs. The potential warehouse costs over three years at the current premises would be £30,000, but if these premises were unavailable the cost might rise to £60,000. Also, in order to set aside unrestricted funds at a level equivalent to between three and six months expenditure, trustees decided to set a total designated reserve fund of £100,000. Small restricted reserves from Trussell Trust grants are also maintained. Page 3 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023** ## **c. Principal risks and uncertainties** A risk register has been produced which identifies the major risks to which the charity is exposed and the systems to mitigate against them. Trustees have identified a major potential risk as the loss or incapacity of senior managers or trustees due to health issues etc, and have set succession planning operations in motion to reduce these risks. The risk of underfunding by supporters in the local community and by major local businesses is viewed as not impossible, but unlikely. Cash deposits are invested in more than one institution in line with the Financial Services Compensation scheme limit of £85,000 for each institution. ## **d. Principal funding** Donations of non-perishable food from churches, voluntary organisations, schools, supermarket collections, corporate donors and individuals. Financial donations from corporate donors, churches and individuals. Online donations can be made through our website or Facebook enabling supporters to give via the JustGiving or PayPal Giving Fund services. ## **Structure, governance and management** ## **a. Constitution** Watford Foodbank and Community Relief Trust is a registered charity, number 1184482, and is constituted as a Charitable Incorporated Organisation (CIO). ## **b. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charitable Incorporated Organisation (CIO). New appropriate trustees approached by existing trustees. No bodies are entitled to appoint trustees. ## **c. Policies adopted for the induction and training of Trustees** Trustees are involved as volunteers in the day-to-day operation of the foodbank and in meeting with clients. New trustees are given trustee information produced by the Charity Commission, and undergo online training organised by The Trussell Trust. ## **d. Related party relationships** Watford Foodbank works closely with Citizens Advice Watford, the Hertfordshire Mind Network, and the local homeless charity New Hope. ## **e. Organisational structure and any wider network** Watford Foodbank is part of the network of over 400 foodbank's operated by the national Christian charity The Trussell Trust, and operates according to its policies and guidelines. Page 4 WATFORD FOODBANK AND COMMUNITY RELIEF TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023 Plans for future periods A trustee employment working paty Tecommended Ihat we rerJuil a fvll-time salaried foodbank manager, as the current volunteer manager will be retiring at the end of 2023. The twstee board accepted this recommendation and th8 recruitment process is beginnlng. This will be our first salaried post and we hope to have filled this role by earty 2024. We will then address the need ft)r a part-time salaried adminigtrator. Slatompnt of Trustees, responsibilities Th8 Trustees are responsible for prepating the Tnjstees, report and the financial statements in attordance with applicable law arKJ Untted Kingdom Accounting Stsndards (uni￿ lQ"ngdom Generally A¢￿91ed Accounb'ng Practice). The law applicable to charitses in England & Wales requires the Trustees to prepare financi81 ststements for each financial which gtve a true and fair view of the state of affairs of the Chanly and of ils incoming resources and application of resour￿. induding its income and expenditure, for that period. In weparing these financial ststemenls. th8 Trustees a￿ required to: S8lect suitable accounting poliues and then apply thern consistently. observe the methods and principles of the Charities SORP IFRS 102)" make judgments ￿ accounting estimates that are rea50nabie and prudent., stste whether applicable UK Accounting S12ndards IFRS 1021 have been followed. subj.ect lo any material departures disdosed and explained in the fin8nLaal statements. prepare the finanual statements on the going con￿￿ basis unless it is inappropriate to presume Ihat ￿e Charity wtll conlinue in business. The Tnjstees are reswnsible for keeping adequate aco)unting records that aré 5uffiuenl to show and explain the Charity's transactions and disdose wtth reasonable accuracy at any time the financlal position of the Charity and enable them to ensure that the financÉal ststements comply with the charit￿s Acl 2011. the Charity (Accounts 8nd Reports) Regulat"ons 2008 and the pnvi&ons of the temis of the Charitable Incorporated Organisation ICIOI. They are also responsible for safeguarding Ihe assets of Ihe Charity and hen￿ ft)r laktng reasonablè steps for the prevention and detection of fraud and olher irregul&ities. Approved by order of the members of the tN)ard ofTfustees and signed on their behalf by. John Davld Bishop Thomas Tranter Date: 30, 10. 13 31/10 Izs Page 5 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 4 APRIL 2023** ## **Independent examiner's report to the Trustees of Watford Foodbank and Community Relief Trust ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 4 April 2023. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** 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 institute of chartered accountants in england and wales, which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Page 6 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023** Signed: Dated: 31/10/2023 Gary Wong BFP FCA Chartered Accountant, Institute of Chartered Accountants in England & Wales ## **Hillier Hopkins LLP** Chartered Accountants Radius House 51 Clarendon Road Watford Hertfordshire WD17 1HP Page 7 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 4 APRIL 2023** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**38,543**
**-**
**38,543**
**25,657**
**25,657**
**12,886**
**-**
**12,886**
**12,886**|**Unrestricted**
**funds**
**2023**
**£**
**546,811**
**4,802**
**551,613**
**467,563**
**467,563**
**84,050**
**295,191**
**84,050**
**379,241**|**Total**
**funds**
**2023**
**£**
**585,354**
**4,802**
**590,156**
**493,220**
**493,220**
**96,936**
**295,191**
**96,936**
**392,127**|_Total_
_funds_
_2022_
_£_
_275,955_
_-_
_275,955_
_279,241_
_279,241_
_(3,286)_
_298,477_
_(3,286)_
_295,191_| |---|---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 21 form part of these financial statements. Page 8 WATFORD FOODBANK AND COMMUNITY RELIEF TRUST BALANCE SHEET AS AT 4 APRIL 2023 2023 2022 Note Flxed assets Tangible assets Current assets 11.608 16,912 stocks Cash at bank and in hand 10 45.700 338.819 27,500 250, 779 384,519 278,279 Creditors.. amounts falling due within one year 11 (4,000) Net Currènt assets 380.519 278,279 Totsl net assets 392,127 295,191 Charfty funds Restricted funds Unrestricted fur￿$ 12 12,886 379.241 12 295,191 Total funds 392,127 295,191 The financial slatements were approved and authorised for issue by the Trustees and signed on their beh8K by.. T)( g￿/ John David Bishop Andrew homas Tranter Date.. 30. 10.13 311 io/z> The r￿teS on pages 11 to 21 fomi part of these finarKial statements. Page 9 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 4 APRIL 2023** |**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Depreciation
Movement in stock
Increase/(decrease) in creditors
**Net cash (used in)/provided by investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 11 to 21 form part of these financial statements|**2023**
**£**
**96,936**
**5,304**
**(18,200)**
**4,000**
**(8,896)**
**-**
**88,040**
**250,779**
**338,819**|_2022_
_£_
_(3,286)_
_5,304_
_18,000_
_-_
**23,304**
**-**
**20,018**
_230,761_
_250,779_| |---|---|---| Page 10 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **1. General information** Watford Foodbank Community Relief Trust Charitable Incorporate Organisation Incorporated in England & Wales. The registered address is 9 Tavistock Road, Watford, WD24 4HL. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Watford Foodbank and Community Relief Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The accounts have been prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **2.2 Going concern** At the time of approving the financial statements, the trustees have reasonable expectation that the charity will able to continue in operation through the continued receipt of donations and grants for the next 12 months. Additionally, the charity holds sufficient unrestricted free reserves to meet any unexpected unbudgeted costs. Therefore these accounts have been prepared on a going concern basis. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Allocation between unrestricted and restricted funds is subject to specific conditions by the donor or grant maker as to how they may be used, and in accordance with fundraising applications. Unrestricted income is recognised for general use where there is no other specified purpose Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount: Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. The value of donated goods is recognised within donations at fair value when received, with an equivalent amount recognised as charitable expenditure, after adjusting for the value of stock. Page 11 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure is allocated to restricted funds by direct attribution to the specific conditions set by the donor or grant maker, including agreed proportions of specific costs, such as salaries. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Tangible fixed assets and depreciation** Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . Depreciation is provided on the following basis: Motor vehicles - 20% Straight line basis Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of financial activities. ## **2.6 Stocks** Stocks comprise food, toiletries and other donated goods, held for distribution by the food bank. Stocks are valued at fair value, after allowance for out of date items. ## **2.7 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid deposits with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 12 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **2. Accounting policies (continued)** ## **2.8 Liabilities and provisions** Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. ## **2.9 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.10 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The general funds include cash donation and stock donation. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **3. Income from donations and legacies** |Donations
Grants
Foodbank stock donations|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
233,984
38,543
5,781
-
307,046
38,543
546,811|**Total**
**funds**
**2023**
**£**
**233,984**
**44,324**
**307,046**| |---|---|---| |||**585,354**| Page 13 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **3. Income from donations and legacies (continued)** |Donations
Foodbank stock donations|_Unrestricted_
_funds_
_2022_
_£_
_-_
_97,007_
_178,948_
_275,955_|_Total_
_funds_
_2022_
_£_
_-_
_97,007_
_178,948_| |---|---|---| |||_275,955_| ## **4. Income from charitable activities** ||**Unrestricted**|**Total**|_Total_| |---|---|---|---| ||**funds**|**funds**|_funds_| ||**2023**|**2023**|_2022_| ||**£**|**£**|_£_| |HMRC Gift aid|4,802|**4,802**|_-_| ## **5. Analysis of expenditure on charitable activities Summary by fund type** |Expense in the furtherance of charity activities
Foodbank stock distribution|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
25,657
178,717
-
288,846
25,657
467,563|**Total**
**2023**
**£**
**204,374**
**288,846**| |---|---|---| |||**493,220**| Page 14 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **5. Analysis of expenditure on charitable activities (continued)** ## **Summary by fund type (continued)** |Expense in the furtherance of charity activities
Foodbank stock distribution|_Unrestricted_
_funds_
_2022_
_£_
_82,293_
_196,948_
_279,241_|_Total_
_2022_
_£_
_82,293_
_196,948_| |---|---|---| |||_279,241_| ## **6. Analysis of expenditure by activities** |Expense in the furtherance of charity activities
Foodbank stock distribution
Expense in the furtherance of charity activities
Foodbank stock distributions|**Activities**
**undertaken**
**directly**
**2023**
**£**
92,992
288,846
381,838
_Activities_
_undertaken_
_directly_
_2022_
_£_
_36,926_
_196,948_
_233,874_|**Support**
**costs**
**2023**
**£**
111,382
-
111,382
_Support_
_costs_
_2022_
_£_
_45,367_
_-_
_45,367_|**Total**
**funds**
**2023**
**£**
**204,374**
**288,846**| |---|---|---|---| ||||**493,220**| ||||_Total_
_funds_
_2022_
_£_
_82,293_
_196,948_| ||||_279,241_| ## **Analysis of direct costs** Page 15 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs (continued)** |Additional food
Community Relief Payments
Refugees
Foodbank distributions|**Total**
**funds**
**2023**
**£**
**24,726**
**68,266**
**-**
**288,846**
**381,838**|_Total_
_funds_
_2022_
_£_
_12,118_
_9,808_
_15,000_
_196,948_| |---|---|---| |||_233,874_| ## **Analysis of support costs** |Rent
Utilities
Motor vehicle expense
Maintenance of building
Insurance
Admin
Printing, Postage & Stationery
Accountancy
Wellspring Church Mullberry room
Motor vehicle depreciation
Bank fees
Telephone and internet|**Donations**
**2023**
**£**
27,726
9,286
9,923
16,162
2,618
1,118
750
6,760
27,736
5,304
1,644
2,355
111,382|**Total**
**funds**
**2023**
**£**
**27,726**
**9,286**
**9,923**
**16,162**
**2,618**
**1,118**
**750**
**6,760**
**27,736**
**5,304**
**1,644**
**2,355**| |---|---|---| |||**111,382**| Page 16 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of support costs (continued)** |Rent
Utilities
Motor vehicle expense
Maintenance of building
Insurance
Admin
Printing, postage and stationery
Accountancy
Motor vehicle depreciation
Bank fees
Telephone and internet|_Donations_
_2022_
_£_
_20,784_
_986_
_6,844_
_3,366_
_2,266_
_1,457_
_111_
_2,700_
_5,304_
_13_
_1,536_
_45,367_|_Total_
_funds_
_2022_
_£_
_20,784_
_986_
_6,844_
_3,366_
_2,266_
_1,457_
_111_
_2,700_
_5,304_
_13_
_1,536_| |---|---|---| |||_45,367_| ## **7. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £4,000 ( _2022_ - _£2,700_ ). ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ . During the year ended 4 April 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . Page 17 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** |**9.**|**Tangible fixed assets**||| |---|---|---|---| ||||**Motor**| ||||**vehicles**| ||||**£**| ||**Cost or valuation**||| ||At 5 April 2022||**26,520**| ||At 4 April 2023||**26,520**| ||**Depreciation**||| ||At 5 April 2022||**9,608**| ||Charge for the year||**5,304**| ||At 4 April 2023||**14,912**| ||**Net book value**||| ||At 4 April 2023||**11,608**| ||_At 4 April 2022_||_16,912_| |**10.**|**Stocks**||| |||**2023**|_2022_| |||**£**|_£_| ||Food stock|**45,700**|_27,500_| ||The stock held at the year end has been valued at £2.37 per kilogram (2022: £1.75 per kg) using the||| ||Trussell Trust guidelines. This represents the cash valuation of goods donated to the Foodbank.||| |**11.**|**Creditors: Amounts falling due within one year**||| |||**2023**|_2022_| |||**£**|_£_| ||Accruals and deferred income|**4,000**|_-_| Page 18 **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **12. Statement of funds** |**Statement of funds - current year**
**Balance at 5**
**April 2022**
**£**
**Unrestricted funds**
**Designated funds**
Designated Funds - all funds
**-**
**General funds**
General Funds - all funds
**295,191**
**Total Unrestricted funds**
**295,191**
**Restricted funds**
Restricted Funds - all funds
**-**
**Total of funds**
**295,191**
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Income**
**£**
**-**
**551,613**
**551,613**
**38,543**
**590,156**
_Balance at_
_1 April 2021_
_£_
_298,477_|**Expenditure**
**£**
**-**
**(467,563)**
**(467,563)**
**(25,657)**
**(493,220)**
_Income_
_£_
_275,955_|**Transfers**
**in/out**
**£**
**Balance at 4**
**April 2023**
**£**
**100,000**
**100,000**
**(100,000)**
**279,241**
**-**
**379,241**
**-**
**12,886**
**-**
**392,127**
_Expenditure_
_£_
_Balance at_
_4 April 2022_
_£_
_(279,241)_
_295,191_|**Transfers**
**in/out**
**£**
**Balance at 4**
**April 2023**
**£**
**100,000**
**100,000**
**(100,000)**
**279,241**
**-**
**379,241**
**-**
**12,886**
**-**
**392,127**
_Expenditure_
_£_
_Balance at_
_4 April 2022_
_£_
_(279,241)_
_295,191_| |---|---|---|---|---| |||||**279,241**| |||||**379,241**| |||||**12,886**| |||||**392,127**| |||||_Balance at_
_4 April 2022_
_£_
_295,191_| Page 19 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **13. Summary of funds** ## **Summary of funds - current year** |**Balance at 5**
**April 2022**
**£**
Designated funds
**-**
General funds
**295,191**
Restricted funds
**-**
**295,191**
**Summary of funds - prior year**
General funds|**Income**
**£**
**-**
**551,613**
**38,543**
**590,156**
_Balance at_
_1 April 2021_
_£_
_298,477_|**Expenditure**
**£**
**-**
**(467,563)**
**(25,657)**
**(493,220)**
_Income_
_£_
_275,955_|**Transfers**
**in/out**
**£**
**Balance at 4**
**April 2023**
**£**
**100,000**
**100,000**
**(100,000)**
**279,241**
**-**
**12,886**
**-**
**392,127**
_Expenditure_
_£_
_Balance at_
_4 April 2022_
_£_
_(279,241)_
_295,191_|**Transfers**
**in/out**
**£**
**Balance at 4**
**April 2023**
**£**
**100,000**
**100,000**
**(100,000)**
**279,241**
**-**
**12,886**
**-**
**392,127**
_Expenditure_
_£_
_Balance at_
_4 April 2022_
_£_
_(279,241)_
_295,191_| |---|---|---|---|---| |||||**392,127**| |||||_Balance at_
_4 April 2022_
_£_
_295,191_| |**Summary of funds - prior year**||||| |General funds||||| ## **14. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2023**
**£**
-
12,886
-
12,886|**Unrestricted**
**funds**
**2023**
**£**
11,608
371,633
(4,000)
379,241|**Total**
**funds**
**2023**
**£**
**11,608**
**384,519**
**(4,000)**| |---|---|---|---| ||||**392,127**| ## **15. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income/expenditure for the year (as per Statement of Financial
Activities)|**96,936**|_(3,286)_| |---|---|---| Page 20 ## **WATFORD FOODBANK AND COMMUNITY RELIEF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023** ## **16. Analysis of cash and cash equivalents** |Cash in hand
**Total cash and cash equivalents**|**2023**
**£**
**338,819**
**338,819**|_2022_
_£_
_250,779_| |---|---|---| |||| |||_250,779_| ## **17. Analysis of changes in net debt** |Cash at bank and in hand|**At 5 April**
**2022**
**£**
**250,779**
**250,779**|**Cash flows**
**£**
**88,040**
**88,040**|**At 4 April**
**2023**
**£**
**338,819**| |---|---|---|---| ||||**338,819**| ## **18. Related party transactions** The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 4 April 2023. Page 21