Registered number: CE018321 Charity number: 1184601
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 13 |
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021
| Trustees | David Michael Kolb |
|---|---|
| Josette Angela Kolb | |
| Gerard D'Cruz | |
| Angela Gee | |
| Company registered number CE018321 Charity registered number 1184601 Registered office 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA Accountants Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA |
Page 1
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2021
The Trustees present their annual report together with the financial statements of the Food For Thought Daventry for the 1 August 2020 to 31 July 2021. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the company, as set out in its Memorandum of Association, are:
Food For Thought Daventry was originally formed to supply hot nutritious meals to vulnerable children and their immediate families 5 days a week during all school holidays.
We were lucky enough to be offered kitchens and dining area at the Parker E-Act Academy in Daventry for this purpose and started our first service for the February half term. The service was a success and we were able to learn a lot of lessons for the future and made plans to improve and roll out the service to more children in Daventry.
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
The company supplies hot nutritious meals to vulnerable children and their immediate families in the Daventry area.
Page 2
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Achievements and performance
a. Review of activities
After initially supplying meals to families during the Covid lockdowns, Food For Thought had to adapt the service by trying to minimise contact with people, we decided to offer the families that would be referred for the school holidays weekly fresh food (enough to last a full week). With the help of Tesco actually picking the food and storing it in crates, we were able to collect the food from Tesco, take it back to the Parker E-Act Academy kitchens, sort and bag it and then take it out for delivery to the families. We also decided to extend the service outside of the holidays to a 'one off' emergency service for referrals for any families in crisis.
This service operated without exception through to the Easter 2021 when through illness we felt that we could not continue to run Food For Thought. We approached a number of other charities, schools and local people in the hope that someone would take on the responsibility and continue to operate Food For Thought.
We had a local school actually agree to take on the charity and move it forward. They said that they wouldn't be able to get it done by the half term but it would be up and operational by the summer holidays. After delaying things they eventually dropped out and didn't take on the charity leaving Food For Thought in an awkward position. We then continued to take on emergency 'one off help' for families in crisis.
During this period we have not applied for any more funding and are simply using the funds that we have.
Page 3
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the trustees' aim to maintain free reserves at:
-
Six months running costs allowing for fluctuations in income and ongoing equipment purchase and repair.
-
A reserve for the costs of purchasing and converting new premises.
The level of reserves is monitored and reviewed by the trustees annually.
Structure, governance and management
a. Constitution
Food For Thought Daventry is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £10 to the assets of the Company in the event of winding up.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Page 4
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
David Michael Kolb
Date: 17.05.22
Page 5
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 9,868 9,868 9,772 315 10,087 (219) 64 (155) 8,311 (155) 8,156 |
Total funds 2021 £ 9,868 9,868 9,772 315 10,087 (219) 64 (155) 8,311 (155) 8,156 |
Total funds 2020 £ 65,342 |
|---|---|---|---|
| 65,342 | |||
| 56,966 1,062 |
|||
| 58,028 | |||
| 7,314 997 |
|||
| 8,311 | |||
| - 8,311 |
|||
| 8,311 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 13 form part of these financial statements.
Page 6
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee) REGISTERED NUMBER: CE018321
BALANCE SHEET AS AT 31 JULY 2021
| Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds Total funds |
8,156 | 2021 £ 8,156 8,156 8,156 8,156 8,156 |
8,311 | 2020 £ 8,311 |
|---|---|---|---|---|
| 8,311 | ||||
| 8,311 | ||||
| 8,311 | ||||
| 8,311 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
David Michael Kolb
Date: 17.05.22
The notes on pages 8 to 13 form part of these financial statements.
Page 7
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1. General information
Food For Thought Daventry is a charitable company limited by guarentee incorporated in England and Wales within the United Kingdom.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Food For Thought Daventry meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
2.3 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 on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 8
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.5 Financial instruments
The Company 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.
2.6 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 Company and which have not been designated for other purposes.
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.
3. Income from donations and legacies
| Donations Donations |
Unrestricted funds 2021 £ 9,868 Unrestricted funds 2020 £ 65,342 |
Total funds 2021 £ 9,868 Total funds 2020 £ 65,342 |
|---|---|---|
Page 9
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
4. Expenditure on raising funds Costs of raising funds
| Costs of raising funds Costs of raising funds |
Unrestricted funds 2021 £ 9,772 Unrestricted funds 2020 £ 56,966 |
Total funds 2021 £ 9,772 Total funds 2020 £ 56,966 |
|---|---|---|
5. Analysis of expenditure on charitable activities Summary by fund type
| Direct costs Direct costs |
Unrestricted funds 2021 £ 315 Unrestricted funds 2020 £ 1,062 |
Total funds 2021 £ 315 Total funds 2020 £ 1,062 |
|---|---|---|
Page 10
FOOD FOR THOUGHT DAVENTRY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
5. Analysis of expenditure on charitable activities (continued)
Summary by expenditure type
| Direct costs Direct costs Analysis of expenditure by activities Direct costs Direct costs |
Other costs 2021 £ 315 Other costs 2020 £ 1,062 Activities undertaken directly 2021 £ 315 Activities undertaken directly 2020 £ 1,062 |
Total funds 2021 £ 315 Total funds 2020 £ 1,062 Total funds 2021 £ 315 Total funds 2020 £ 1,062 |
|---|---|---|
6. Analysis of expenditure by activities
Page 11
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Paypal Fee Insurance Computer Costs Paypal Fee Mileage costs Insurance Computer costs PPS Cleaning Staff Training |
Activities 2021 £ 13 266 36 315 Activities 2020 £ 12 547 266 53 87 73 24 1,062 |
Total funds 2021 £ 13 266 36 |
|---|---|---|
| 315 | ||
| Total funds 2020 £ 12 547 266 53 87 73 24 |
||
| 1,062 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 July 2021, no Trustee expenses have been incurred (2020 - £NIL) .
Page 12
FOOD FOR THOUGHT DAVENTRY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
8. Financial instruments
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 8,156 | 8,311 |
| 9. | Analysis | of net assets between funds |
|---|---|---|
| Analysis | of net assets between funds - current year |
| Current assets Analysis of net assets between funds - prior year Current assets |
Unrestricted funds 2021 £ 8,156 Unrestricted funds 2020 £ 8,311 |
Total funds 2021 £ 8,156 Total funds 2020 £ 8,311 |
|---|---|---|
Page 13