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2024-06-30-accounts

PROVIDE A MEAL

Charity No. 1187192

Company No. 11772942

Trustees' Report and Unaudited Accounts

30 June 2024

PROVIDE A MEAL Contents

Pages
Trustees' Annual Report 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Summary Income and Expenditure Account 4
Balance Sheet 5
Statement of Cash flows 6
Notes to the Accounts 7
Detailed Statement of Financial Activities 8 to 16

Page 1

PROVIDE A MEAL Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 11772942

Charity No. 1187192

Principal Office

3 Acorn Business Centre Northarbour Road Northarbour Road Cosham

Registered Office

3, Acorn Business Centre Northarbour Road, Cosham Portsmouth PO6 3TH

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

S.A.M. ADOGERI

A. GBAGBA A. IBITOYE

Trustees

Trustees
Ayotomide Ibitoye Sunday Adogeri Adekunle Gbagba
Key Management Personnel
Chair Ayotomide Ibitoye
Trustee Sunday Adogeri
Trustee Adekunle Gbagba

Accountants

FREDRICKS ACCOUNTANTS & CO LTD Suite 204 133 Creek Road Greenwich London SE8 3BU

Bankers

The Co-operative Bank - Business Business Customer Services PO Box 250

Page 2

PROVIDE A MEAL Trustees Annual Report

Skelmersdale WN8 6WT

OBJECTIVES AND ACTIVITIES

Provide A Meal is a newly established start-up charity created on the 17th January 2019 that seeks to prevent and relieve food poverty in the United Kingdom, by utilising a revolutionary application that solves the problem of food hunger and relieves pressure on public services. Our core values are rooted in passion, integrity and gratitude. We work with unwavering passion, lead with integrity, and serve communities with sincere gratitude for the opportunity to make a difference.We believe that no man, woman, or child should go to bed hungry and we also believe that we can all do a little to make a huge impact. However the challenge that we face with giving to those in need is the issue of mistrust. Whether we give directly or indirectly, there’s a temptation to silently question how the money is being used by the charity or the person in need. Provide A Meal remove the apprehension to give to individuals and families who really need help by giving the donors the ability to track the redemption of their generous donation. This innovative approach to solving food poverty in the UK is core of our application.

Our Mission:

To create community engaging solutions that remedy systemic lack and poverty around the world.

Our Vision:

To use technology as a vehicle to transform how we engage and resolve poverty-related issues.

Our Objective:

To advance the social integration of those less privileged; to eliminate their fear of limited food resources.

WHAT WE DO

Provide A Meal uses a web and mobile application to connect food vendors, charities and individuals together for providing meals directly to beneficiaries without handing out cash. This is achieved through an application (the PAM Application) developed to allow a donor to give a meal by generating a meal-code equivalent to the amount they wish to give. For example, if a donor wants to give a beneficiary £3, the PAM Application will convert the £3 into a meal-code, which is then given to the beneficiary. When the beneficiary takes this to any participating food outlet, the restaurant will validate the code and sell a meal worth the amount on the code to the beneficiary. When this is done, the donor that generated the code will get a notification that their donation has been redeemed, and that the beneficiary they supported has been fed. The charity then reimburses the restaurant the value of the redeemed meal-code. The PAM Application enables complete traceability and security of where each individuals donation has ultimately been used, therefore provided the donor with unprecedented feedback on how their donation has made a difference. Our aim is to eradicate food poverty from local communities by providing a platform for low income families and people living in poverty (the beneficiaries) to have access to emergency meals. We work closely with partnering charity organisations dealing with people in disadvantaged situations and our solution through the PAM app is considered to be the most dignified way to help beneficiaries without damaging their self-worth.Our website (www.provideameal.com) includes further information on how the process for providing meal-codes works and an animated video which illustrates how the charity meets its purpose of relieving food poverty, by utilising the PAM Application.

Page 3

PROVIDE A MEAL Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

This year has been particularly challenging for the charity due to the effect of the pandemic we did a mini virtual launch of the charity on world hunger day to create awareness for our planform.We saw increase in use of our platform however due to the effect of the pandemic on the hospitality sector, most beneficiaries couldn’t use our platform. This is because we primarily rely on restaurants and cafes to supply the meals to beneficiaries using our platform. The effect of this meant that we had to look for other creative ways to meet the needs of our beneficiaries.We changed plans and joined forces with both donors and volunteers to deliver our core objective of reducing food poverty within the community.We engaged volunteers who physically delivered food boxes or meal parcels to beneficiaries in their homes and to walk-in services within the city that cater for beneficiaries in need.Through this medium we were able to provide beneficiaries with 563 Hot takes away meals, 357 Emergency food boxes and 47 Food parcels as free holiday school meal and Christmas food parcels as of our year end. In addition to this, our application delivered 341 meals codes used to claim meals with our partner restaurants. We worked with a total of 6 volunteers consistently throughout the year who helped with our goals of reaching out to donors to support our charity and also our publicity through social media platforms. We also collaborated with other great local charities such as Lily & Lime, HIVE Portsmouth and Friday Fridge among others to distribute food for more people in need.A big thank you to our corporate donors which include National Lottery, BAUER Media (Wave105.2fm), ALPKIT Foundation, Shaping Portsmouth and Portsmouth City Council for supporting us throughout this difficult year! Our aim is to carry on from where we have stopped and keep moving towards making sure no man, woman or child goes to bed hungry. This is our core objective and as we aim to grow the support we get and deliver to people that need our services, we will continue to explore creative ways to help us archive this core objective.

FINANCIAL REVIEW

The Statement of Financial Activities, set out on page 8, shows the income and expenditure of the charity for the 12 month period ended 30th June 2024 .The charity recorded income of £65,303 (2023-£30,455) . The charity’s expenditure for the year amounted to £65,495 (2023: £31,955).We closed the year with a deficit of £2,421(2023:£1,500).The trustees have confirmed their willingness to continue to support the charity until it can become self sufficient, and will provide further funding, if necessary, so the charity can continue to meet is commitments as they fall due.

Reserves Policy

The aim of the Trustees is for the charity to maintain a positive cash flow in order to meet its financial commitments. The eventual aim is to build up sufficient unrestricted funds in reserves so the charity can withstand fluctuations in its incoming resources.

Risk Management

The Board of Trustees carefully monitors the financial performance of the charity and the availability of its financial resources. The charity’s budget is monitored closely and every effort is made to ensure our operations are as efficient possible. Prospective Trustees can apply to the existing Board of Trustees if they wish to become a trustee of the charity. New Trustees are briefed as to their legal obligations under charity and company law, the contents of the Memorandum and Articles of Association, and the charities policies and procedure manual. They will also be briefed on the board structure, budgeting and other financial matters and the general operating procedures of the charity.

Page 4

PROVIDE A MEAL Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is an incorporated company limited by guarantee, registered with the Charity Commission and the Registrar of Companies in England and Wales. The charity was established for the public benefit, for the prevention or relief of food poverty in the United Kingdom by the provision of meals to individuals in financial need, hardship or distress.The charity was under the control of its Board of Trustees throughout the period and is governed by its Memorandum and Articles of Association. The Board of Trustees communicate regularly to assess the performance of the charity and to make strategic decisions on the charity’s ongoing activities. Such decisions are made by the Trustees of the charity on a majority vote basis, where each trustee has one vote. The operational management of the charity is performed by the charity’s Chief Executive who reports directly to the Trustees.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Adogeri S.A.M. ADOGERI Trustee 30 June 2024

Page 5

PROVIDE A MEAL Independent Examiners Report

Independent Examiner's Report to the trustees of PROVIDE A MEAL

I report to the charity trustees on my examination of the financial statements of PROVIDE A MEAL for the year ended 30 June 2024.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

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 financial statements to be reached.

Adesina Otufale ACCA FREDRICKS ACCOUNTANTS & CO LTD Suite 204 133 Creek Road Greenwich London SE8 3BU 30 June 2024

Page 6

PROVIDE A MEAL Statement of Financial Activities

for the year ended 30 June 2024

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Other
8
Total
Net gains on investments
Net expenditure
9
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2024
£
63,074
-		 Total funds
2024
£
63,074
-		 Total funds
2023
£
25,193
5,262
63,074
161
4,463
60,871		 63,074
161
4,463
60,871		 30,455
278
3,600
28,077
65,495
-		 65,495
-		 31,955
-
(2,421)
-		 (2,421)
-		 (1,500)
-
(2,421) (2,421) (1,500)
(2,421)
(21,703)		 (2,421)
(21,703)		 (1,500)
(20,203)
(24,124) (24,124) (21,703)

Page 7

PROVIDE A MEAL Summary Income and Expenditure Account

for the year ended 30 June 2024

Income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year		 2024
£
63,074
63,074
65,303
192
65,495
(2,421)
(2,421)		 2023
£
30,455
30,455
31,715
240
31,955
(1,500)
(1,500)

Page 8

PROVIDE A MEAL Balance Sheet

at 30 June 2024

Company No.
11772942
Notes
2024
£
Fixed assets
Tangible assets
11
768
768
Current assets
Cash at bank and in hand
1,719
1,719
Creditors:Amount falling due within one year
12
(9,575)
Net current liabilities
(7,856)
Total assets less current liabilities
(7,088)
Creditors:Amounts falling due after more than one year
13
(17,036)
Net liabilities excluding pension asset or liability
(24,124)
Total net liabilities
(24,124)
The funds of the charity
Restricted funds
14
Unrestricted funds
14
General funds
(24,124)
(24,124)
Reserves
14
Total funds
(24,124)		 2023
£
960
960
1,352
1,352
(5,823)
(4,471)
(3,511)
(18,192)
(21,703)
(21,703)
(21,703)
(21,703)
(21,703)

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 June 2024

And signed on its behalf by:

Gbagba

A. GBAGBA

Trustee 30 June 2024

Page 9

PROVIDE A MEAL Statement of Cash flows for the year ended 30 June 2024

Cash flows from operating activities
Net expenditure per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Decrease in trade and other receivables
Increase in trade and other payables
Net cash provided by/(used in) operating activities
Net cash from investing activities
Cash flows from financing activities
Repayment of borrowings
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2024
£
(2,421)
192
-
3,752
1,523
-
(1,156)
(1,156)
367
1,352
1,719
1,719
1,719		 2023
£
(1,500)
240
200
731
(329)
-
(1,775)
(1,775)
(2,104)
2,659
555
1,352
1,352

Page 10

PROVIDE A MEAL Notes to the Accounts

for the year ended 30 June 2024

Basis of preparation

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Page 11

PROVIDE A MEAL Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures, fittings and 20% Reducing balance equipment

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses. Capitalised software 20% Reducing balance

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 12

PROVIDE A MEAL Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 13

PROVIDE A MEAL Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
25,193
5,262
30,455
278
3,600
28,077
31,955
(1,500)
(1,500)
(1,500)
(20,203)
(21,703)		 Total funds
2023
£
25,193
5,262
30,455
278
3,600
28,077
31,955
(1,500)
(1,500)
(1,500)
(20,203)
(21,703)

Page 14

PROVIDE A MEAL

Notes to the Accounts

4 Income from donations and legacies

4
Income from donations and legacies
Other donations Unrestricted
£
63,074
63,074		 Total
2024
£
63,074
63,074		 Total
2023
£
25,193
25,193
Donated goods, facilities and services received
Donations received
5
Income from charitable activities
Grants – Portsmouth City
Council
6
Expenditure on raising funds
Fundraising trading costs
7
Expenditure on charitable activities
Expenditure on charitable
activities
Grants – Portsmouth City
Council
Governance costs		 Unrestricted
£
161
161
Unrestricted
£
4,463
4,463		 Total
2024
£
-
-
Total
2024
£
-
-
Total
2024
£
161
161
Total
2024
£
4,463
4,463		 Total
2023
£
25,194
25,194
Total
2023
£
5,262
5,262
Total
2023
£
278
278
Total
2023
£
3,600
3,600

Page 15

PROVIDE A MEAL Notes to the Accounts

8 Other expenditure

Software licence costs
Amortisation of capitalised
software costs
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
9
Net expenditure before transfers
This is stated after charging:
Depreciation of owned fixed assets
10 Staff costs
Salaries and wages
Social security costs
No employee received emoluments in excess of £60,000.
11 Tangible fixed assets
Cost or revaluation
At 1 July 2023
At 30 June 2024
Depreciation and
impairment
At 1 July 2023
Depreciation charge for the
year
At 30 June 2024
Net book values
At 30 June 2024
At 30 June 2023		 Unrestricted
£
-
-
58,903
860
192
166
750
60,871
2024
£
192
2024
52,315
4,072
56,387
Fixtures,
fittings and
equipment
£
-
-
-
-
-
-
-		 Total
2024
£
-
-
58,903
860
192
166
750
60,871
£
1,500
1,500
540
192
732
768
960		 Total
2023
£
1,331
184
24,315
1,026
240
231
750
28,077
2023
£
240
2023
24,315
-
24,315
Total
£
1,500
1,500
540
192
732
768
960

Page 16

PROVIDE A MEAL Notes to the Accounts

12 Creditors:

amounts falling due within one year

Other taxes and social security
Other creditors
Accruals
13 Creditors:
amounts falling due after more than one year
Bank loans and overdrafts
14 Movement in funds
At 1 July
2023
Restricted funds:
Unrestricted funds:
General funds
(21,703)
Total funds
(21,703)
15 Analysis of net assets between funds
Fixed assets
Net current assets
Creditors due in more than one year and
provisions		 2024
£
8,825
750
-
9,575
2024
£
17,036
17,036
Incoming
resources
(including
other
gains/losses
)
£
63,074
63,074		 Resources
expended
£
(65,495)
(65,495)
Unrestricted
funds
£
768
(7,856)
(17,036)
(24,124)		 2023
£
-
750
5,073
5,823
2023
£
18,192
18,192
At 30 June
2024
£
(24,124)
(24,124)
Total
£
768
(7,856)
(17,036)
(24,124)

Page 17

PROVIDE A MEAL Notes to the Accounts

16 Reconciliation of net debt

Cash and cash equivalents
Bank loans
Net debt		 At 1 July
2023
£		 Cash flows
£		 At 30 June
2024
£
1,352 367 1,719
1,352
(18,192)
(18,192)
(16,840)		 367
1,156
1,156
1,523		 1,719
(17,036)
(17,036)
(15,317)

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 18

PROVIDE A MEAL Detailed Statement of Financial Activities

for the year ended 30 June 2024

Income and endowments from:
Donations and legacies
Other donations
Charitable activities
Grants – Portsmouth City Council
Total income and endowments
Expenditure on:
Costs of other trading activities
Total of expenditure on raising
funds
Charitable activities
Grants – Portsmouth City Council
Total of expenditure on charitable
activities
Other expenditure
Software licence costs
Amortisation of capitalised
software costs
Employee costs
Salaries/wages
Employer's NIC
Staff training
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures, fittings
and equipment
Depreciation of
General insurances		 Unrestricted
funds
2024
£
63,074
63,074
-
-
63,074
161
161
161
4,463
4,463
4,463
-
-
-
52,315
4,072
2,516
58,903
860
860
-
192
100		 Total funds
2024
£
63,074
63,074
-
-
63,074
161
161
161
4,463
4,463
4,463
-
-
-
52,315
4,072
2,516
58,903
860
860
-
192
100		 Total funds
2023
£
25,193
25,193
5,262
5,262
30,455
278
278
278
3,600
3,600
3,600
1,331
184
1,515
24,315
-
-
24,315
1,026
1,026
-
240
162

Page 19

PROVIDE A MEAL

Detailed Statement of Financial Activities

PROVIDE A MEAL
Detailed Statement of Financial Activities
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 66
358
750
750
60,871
65,495
-
(2,421)
(2,421)
-
(2,421)
(21,703)
(24,124)		 66
358
750
750
60,871
65,495
-
(2,421)
(2,421)
-
(2,421)
(21,703)
(24,124)		 69
471
750
750
28,077
31,955
-
(1,500)
(1,500)
-
(1,500)
(20,203)
(21,703)

Page 20