FARESHARE NORTH EAST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity Number: 1189901 DEBÉRE LIMITED Chartered Accountan15 Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ
FARESHARE NORTH EAST FINANCIAL sTATEmErs YEAR ENDED 31 MARCH 2024 CONTENTS PAGES Officers and professional advisers Trustees, annual report 2104 Independent Examiners Report Stalemenl of financial activities Balance sheet Notes to the financial statements 8-20
FARESHARE NORTH EAST MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS YEAR ENDED 31 MARCH 2024 Reference and Admlnlstratlve Informatlon Register•d Offl¢e Slamfordham Road Weslerhope Newcastle upon Tyne Tyne and Wear NE5 SHH Board of Tru8tee8 Craig Bankhead Jane Tiplady Andrew Hook Molly Malliris Valerie Bell Steven Richardson Calharine Mitchell Martin Brooks - appointed 18 September 2023., appointed Chair 1 January 2024 Christopher Parsons- appointed 18 September 2023 HaTry Barham - appointed 18 September 2023 Sir Paul Ennals- resigned 31 January 2D24 Graeme Heron - resigned 8 April 2024 Chlef Ex8cutive Jake Hanmore Independent Examiner Debére Limited Chartered Accountants Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ Bankers Virgin Money 30 St Vincent Place Glasgow G12HL
FARESHARE NORTH EAST REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial statements of the Charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities". Statement of Recommended Pra¢lice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effective 1 January 20191. Oble¢tlves & Activitios The Charity's objectives are contained in ils Foundation COnStlUtion, which slates.. lal The relief of poverty and the promotion of good heath and nutrition in North East England by distributing surplus produce lin particular food) to organisations working lo rneet the needs of individuals in social, economic, heallh-relaled or emotional distress, and the needs of Ghildren,. and Ibl The conservation, protectson and improvement of the physical environment through the reduction of food waste. The trustees have referred to the guidance in the Charity Commission's general guidanGe on public b6nefil when reviewing aims and objectives, and in planning future activities. In particular, the Iruslees Gonsider how planned activities will contribute lo the aims & objectives they have set. Details of specific aims, activities, and achievements are included in the Achievements and Perfomiance Section of the Trustees Report below. Achlevemonts & Performanto Fareshare North East, working in partnership with Fareshare UK, covers the geographic North East of England. working lo re-distribute good to eat, quality surplus products from the food industry to charities and community groups. Being a part of the Fareshare neIOTk gives Fareshare North East aCsS to national surplus food partners and guidance on the safe redistribution of surplus food through a Collaborallon agreement. As in the previous year. the volume of surplus food that Fareshare North East has received has fluctuated, although the organisalion has managed lo serwe ar¢ addition?130 community groups within the region. In the reporting year of 2023 2024 Fareshare North East redistribut$d 1.269 tonnes of surplus food lo 230 community groups, which represented a small increase year on year. The types of community groups that Fareshare North East supports has remained broadly similar, including a mix of community cafes, breakfast clubs, homelessness projects, and Community pantries. Community pantries in particular remain one of the largest types of groups that Fareshare North East supports, with Ihe majority of new groups joining the service ba'ng of this type. Flnanclal Revlew Fareshare North East has continued to b8nefit from the investment in operatlonal capacity in recent years, allowing the organisalion lo increase the amount of food redi5tribuled and the number of Community groups served. This investment has also meant that Fareshare North East has been able lo weather a challenging yearfor fundraising wrthout experiencing any financial issues, with only a relatively small movement in reserves as detsiled in the Reserves Policy section of this report. Fareshare North East's main fvnded programme began to wind down during the reporting period, with the generous tMo-year Kavli Trust support for cookery skills, volunteer training, and support for our new Middlesbrough warehouse coming lo a natural end. The programme was very successful, with thanks to Kavli for their support, and Fareshare North East hopes to secure funding lo conllnue il through future y8ats.
FARESHARE NORTH EAST REPORT OF THE TRUSTEES (Contin1? YEAR ENDED 31 MARCH 2024 Prlnclple Funding Sour¢e$ The charity has a mix of funding sources, from grants, trusts, ¢orpor8te partners, and contributions from ommunity groups through membership of Fareshare North East's redistribution activities. Notable fvnders this year include.. Kavli Trust Ludlow Trust Postcode Lollery Community Trust Sage Foundation Reserves Pollcy The Iruslees have sel a reserves target of the equivalent of between 3-6 months operational costs, plus the equivalent of any associated redundancy and winding up costs as the minimum value of unrestricted reserves to be held at any one lime, This creates a target for 2024125 of beeen £195.656 and £391,312. As at 31 March 2024 the total unrestricted reserves were £388.545, of whh £104,957 belongs to a designated fijnd for closure costs, £72,919 belongs to a designated ¢8pilal fund, whllst £210,669 consists of unr8Stricled funds to cover operational costs. Plans for Fulure Periods During the next financial year, based on projections by Fareshare UK for all neOrk partners, Fareshare North East expects food volumes to grow by around 50A, whi¢h will allow for modest growth in the numbei of groups served within the region. To maximise impact, the key objectives for Fareshare North East during the next period, 2024-25, are.. Seek new ways lo work with surplus food, especially harder to use items like large catering packs, unlabelled products, or large quantities of fruit and vegetables Support our Gommunity groups in accepting more of these harder to use items, parts'cularly supporting groups interested in cooking with surplus food Explore additional ways to support our charitabl8 objectives and that compliment our surplus food distribution activities
FARESHARE NORTH EAST REPORT OF THE TRUSTEES (corjbnued) YEAR ENDED 31 MARCH 2024 Trustggs, responslbllltles In relation to tho Financlal Ststements The trustees 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 Practs'cel. The law applicable to charities in England and Wales requires the trustees to prepare financial ststemenls for each financial year whi¢h give a true and fair view of Ihe stsle of affairs of the charity and of the income resourcès and application of resources of the charity for that period. In preparing these financial statemen15, the trustees are required to.. Select suitable accounting policies and Ihen apply them consistentty.. Observe the methods and principles in the charity SORP., Make judgements and eslimales that are reasonable and prudent., State whether applicable accounting standards h8ve been followed, subject to any material departures being dis¢losed and explained in the finan¢ial statements., and Prepare the financial slalements on a going concern basis unless it 15 inappropriate to presume that the charity will continue in business. The trusiees are responsible for keeping proper accounting records that disclose with re8sonable accuracy at any time the financial p051tion of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011. They afe responsible for safeguarding the assets of the charity and, hence, takin9 reasonable steps for the prevention and detection of fraud and other irregularities. Indepond¢nt Examlner A Resolution to appoint Claire Miller al Debère Limited as Independent Examiner for the ensuing year will be proposed at the Annual General Meeting. These financial statements have been prepared in accordance with the provisions applicable to companies Subject to the small companies regime. Approved by the Iruslees on 8 July 2024 and signed on ils behalf by Martin Brookes Chair
FARESHARE NORTH EAST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FARESHARE NORTH EAST YEAR ENDED 31 MARCH 2024 I report on the accounts of the Charitable Incorporated Organisalion for the year ended 31 March 2024, which are sel out on pages 6 to 20. Respectlve Rfrsponslbllltlès of Trustees and Examlner The charity's trustees are responsible for the preparation of the accounts. The charty's trustees consider that an audit is not required for this period under section 14412) of the Charities Act 20111.the 2011 Act'l, and that an independent examiner5 report is needed. It is my responsibility to.. examin8 the accounts under section 145 of the 2011 AGt', follow the procedures laid down in the General Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and 10 state whether particular matters have come lo my attention. Basis of Independent Examlners Report An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover als the matters that an auditor Considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts present a 'true and fair view, and my report is limited lo those specific matters sel out in the independent examiner's slatement. Independènt Examlngfs Statpment In connection with my examination, no matter has come lo rny attention.. 11) Vvhich gives me reasonable cause to beSi8ve that, in any material respect, the requirements to.. keep accounting records in accordance with s130 of the 2011 Act,, and to prepare accounts which accord with the accounting records and lo comply with the accounting requirernenls of the 2011 Act. have not been met,. or (21 to which in my opinion, attention should b8 drawn in order to enable a proper understanding of the accounts to be reached. Claire Miller BA (Honsl FCA Independent Examiner loLA L40 ON BEHALF OF DEBÉRE LIMITED Charted Accountants Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ Date.. 8 July 2024
FARESHARE NORTH EAST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 UnstrIcted Funds General Unrestrlctyd Funds O¢¥lgnated Total Fund¥ 2024 Total Funds 2023 Restricted Fund$ Notg Income from: Investment income Charitable activitie5 Donations and legacies 5,635 495,707 5,635 65,478 561,185 409 690.379 Total incomo 547,673 65,478 613, 151 744,077 Expndlture: Charitable activitts 531495 88 171 557432 Total oxpondlture 531,495 20,192 88,171 639,858 557,432 N•t Incomlng l {outgolng r•sources b8fore transfers 16,178 120,1921 122,6931 126,7071 186.645 Transfers Gross transfers betsveen funds Nel movement In funds 18,2191 4,205 {22.6931 126,707} 186,645 Total fun¢s brou9ht forward 218 888 173671 371613 Total funds carrled foThvard 210,669 177,876 143,006 531.551 558,258 The stalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The note8 on pages 8 to 20 fom part of these finanaal statements
FARESHARE NORTH EAST Charity Number. 1189901 8ALANCE SHEET 31 MARCH 2024 NoteB 2024 2023 Fixgd a$sèts Intangible assets Tangiblè assets 1,687 216 336 2, 7Ql 246 584 10 218,023 249,285 Current assets Debtors Cash al bank and in hand 11 39,593 389 465 68,039 446 980 429,058 515, 019 redltors: amounts falling due within one year 12 115530 196 887 Net current assets 313,528 318,138 Credltor6: amounts f•lllng dug after more than one year 13 Net assets 531,551 558,258 Not assots Funds Restricted funds 14 143,006 165.699 Unrestricted funds: Designated funds General funds IS 177,876 210 669 f 73,671 218 888 Total charity funds 16 531.551 558,258 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 Stslement of Recommended Practice app5i¢able lo charities preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland {FRS 1021 (Charities SORP {FRS 10211. For the year ended 31 March 2024 the comp8ny was entitled lo exemption from audit under section 477 of the Companies Act 2006 Telaling to small companies. Di¢10[SItrusteeS responslbililies-. The members have not required the corllpany to obtain an audit of its financial statements for the period in question in ac¢ordance with section 476., The directOTsltruslees acknowledge their responsibilities for complying with the reqU1MentS of the Act with respect to accounting records and the preparation of financial $tstements. These financial statements were approved by the Board of Trustees on 8 July 2024 and Slgned on their behalf by.. Martin Brookes Chair Thg notes on pages 8 to 20 form port of thèse financial ststernenls
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 IMRCH 2024 ACCOUNTING POLICIES Basis of preparation of financlal statements The financial statements have been prepared in accordance with the chaiity's goveming document, the Companies Act 2006 and"Accounling and Reporting by Charities.. Statement of Recomrnended Practs'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191.. The charity is a Public Benefit Entity as defined by FRS 102. The address of the charity's registered office and principal place of business is Stamfordham Road. Weslerhope, Newcastle upon Tyne, Tyne and Wear, NES SHH. FareSha North East meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounbng policy. Going concern The financial statements have been prepa on a going concem basis as the trustees believe that no material uncertainties exist. The Iruslees have considered the levels of fund5 held and the expected level of income and expenditure for 12 months from aulhorising these financial statement$. The budgeted income and expenditure is sufficient wilh the level of reserves for the charity to be able lo continue as a going Concern. Fund accounting Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure whi¢h meets these criteria is identified lo the fund, together with a fair allocation of overheads and support costs. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated fvnds are unrestricted funds earmarked by the trustees for particular purposes. Income Income is recognised in the period in which the charity is entitled to receipt and the amount can be Easuied with Teasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled lo it or where the donor has specified that the income is lo be expended in a future perlod. Voluntary income received by way of donations and gift5 to the charity is included in full in the Statement of Financial Activities when received. Intangible income is not included unless il represents goods or services which would have otherwise been purchased. Gffts in kind are valued and brought in a5 income and the appropriate expenditure. There were no gifts in kind in the year ended 31 March 2024. Investmont Incomg Interest is included when recewable by tre charity.
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Exppndituro All expenditure is accounted for on an accruals basis. Charitable actNilies include 811 Costs relating to activltles where the primary aim is part of the object5 of the ¢harily along with the indirect costs. The indirect costs have been apportioned on a reasonable basis. Governar)ce costs include audit and a¢¢ountancy fees as well as the Annual General Meeting cosls. Oporating lea86 agreements Rentals applicable lo operating leases Whe subslantialty all of the benefits and risks of ownership remain with the lessor are charged to the Stslement of Financial Acllvities on a straighl-line basis over the period of the lease. Debtors Trade and other debtors are recognised al Ihe settlement amount after any trade discount offered. Prepayments are valuèd al the amount prepaid net ol any trade discounts due. Cash at bank and In hand Cash at bank and in hand includes cash held at bank and cash in hand. Llabllltles and provisions Liabilities are recogni5ed when there is an obligation al the Statement of Financial Position dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the arnount of the selllemenl can be estimated reliabw. Liabilities are recognised at the amount that the charity anticipates il will pay to settle the debt or the amount it has received as adVand payments for the goods or service5 11 musl 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 lo the liability. The unwinding of the discount is recognised within interest payable and similar charges. Financial Instruments The charity has elected lo appty the provisions of Section 11 'Basis Financial Instruments of FRS 102, in full to all of its financial instruments. All of the charities financial assets and financial Iiabililies qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value. Penslon costs The charity provides a defined contribution scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement ol Financial Aclivilies.
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEPdlENTS YEAR ENDED 31 MARCH 2024 AGCOUNTING POLICIES fconlinued) Intangible Assets and Amortlsatlon Intangible assets are initially recorde(l at cost and are subsequently slated at cost less any a¢cumulaled amortisation and impairment bosses. Amortisation is calculated so as to Wrlte off the cost of an asset, less rt's estimated residual value, over the useful economic life of that asset as follows.. Website development 331J/o Straight line Tanglble FIxBd Assets and Depreclatlon Tangible fixed asset5 are ¢apilalised and included at cost. Deprecialion is calcL+lated so as to write off the C05t of an asset, less its estimated residual value, over the useful economic life of that as$et as follows.. Equipment Motor vehicles Leasehold improvements 150A reducing balance 250/0 reducing balance Over the term of the lease Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense unless these costs are required to be ¢apitslised as an intsngible or tangible fixed asset. Employees are only entitled to carry forward unused holiday entitlement in exceptional circumstances, and only by agreement with rnanagement. The cosl ¢)f any unused entitlement is recognised in the period in whh the employee's services are required. Critical Accounting Estlmates and Ar¢•8 Of Judggm¢nt Eslimates and judgements are continually evaluated and are based on historical experience and other factors. including expectation of future events that are believed to be reasonable under the circumstanceg. The only signifficanl area of judgernent is the useful economic lives of fixed assets, details of which are given above. 10-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STA TEMENTS YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR Unrestrirted Unrestrfcted Funds Fund¥ Gongral Deslgnated rotal Fund¥ 2023 R•strlctod Funds Note Incomo fmm.. Investment income Charitable 8clivities Donations 8nd legacies 409 531,536 409 158,843 690.379 Total Income 585,234 158,843 744,OTT Expenditure.. ChaTltable activities 398 902 134 897 557 432 Total expenditu 398.902 23, 633 134, 897 557,432 Net incomiTng/(outyoing) resources fOr• transfers 186,332 (23.633) 23,946 186, 645 Transfers Gross transfers between funds Not movement in funds 137,329 25,370 23.946 186,645 Total funds brought foftward 148 301 71 141753 LL13 Total funds Carrled fonyard 218,888 173,6TI 165,699 558, 258 COMPANY STATUS The company is a charitsble in¢orporated organisation. INVESTMENT INCOME UnrestTl¢ted Funds Restrictgd Funds 2024 2023 Bank interest Interest received on VAT 5,634 5,634 409 5,635 5,635 409 In the year ended 31 March 2024, income from other trading activities of £5,635 12023.. £4091 was unrestricted and £nil12023.' £nill was reslricled. 11
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 INCOME FROM GHARITABLE ACTIVITIES Unrestricted Restrlcted Funds Funds 2024 2023 Connected Voice Covid related grant LGA Foundation Joicey Trust Poslcode Lottery William Leech Middlesbrough Foundation FSUK Groundwork Tesco Ludlow Trust CLLD Funding Fundraising Membership income-CFM Community Foundation County Durham grant Postcode Community Trust Kavli Foundation Garfield Weston Apprentice funding Funding for food savouring role Sundry income Profit on disposal of fixed assets 4,000 10, 749 5,000 3,300 25,000 5,000 50,000 184,09T 2,375 54,400 23.136 6,047 253.042 27,650 1,000 51,780 6,322 33,972 1,000 51,780 22,776 301,274 10,000 10,000 70,000 22,776 301,274 10,000 10,000 70,000 59,156 59,156 30, 000 31,034 3,199 427 800 427 800 495,707 65,478 561,185 690,379 In the year ended 31 March 2024, income from charitable actlvities of £495,70712023.. £531,536) was unrestricted and £65,47812023.' £158,843) was restricted. 12
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 EXPENDITURE Dlrect Costs Staff Costs Deprn- ciatlon Othgr Costs 2024 2023 Charitable adivities Governance costs 8,774 409,063 60,645 158,526 637,008 554.832 8,774 409,063 60,645 161,376 639,858 557,432 In the year ended 31 March 2024, total expenditure of £551.68712023'. £422,S35) was unreslricled and £88,17112023.' £134,897) was restricted. Governan¢e c08ts are madg up a$ follow8: 2024 2023 Independent Examiners fees Accountancy fees 1,375 1,250 2,850 2,69Q Other costs are made up as follows: 2024 2023 Rent and ulililies Tekephone Printing and office supplies Website costs Repairs and maintenance Cleaning and hygiene Travelling expenses Motor vehicles expenses Vehicle hire Equipment hire Insurance Fee5 and subscriptions Training Advertising Consultancy and legal fees Volunteer expenses Bank charges Interest payable on hire purchase agreements Bad debt provision Interest payable on PAYE Pest control Volunteers training programme 28,606 4,105 8,433 4,015 1.071 8, 764 50Q 25,374 2,399 5,053 58,096 702 t,970 1,493 770 640 58 19.570 5.010 1,41f 1,885 19,398 16 27,366 32,105 2,425 9,070 47,744 402 6,442 4,491 993 2,265 178 13,782 6,171 1,843 1.885 4,397 671 118,2721 158,526 202,216 13-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL The aggregate payroll costs were., 2024 2023 Wages and salarles Social se¢urity costs Other pension costs Staff support costs 346,758 22,830 6,532 32.943 253, 697 14,277 4.370 409,063 286,952 No employee {2023'. no employee) eamed in excess of £60,00012023. £60,000) during the year. P•rtlcular8 of employegs: The average number of staff employed by the charity during the financial perfod amounted to.. 2024 No 2023 No Total Trustees. remuneration and expen8e8 No remuneration directly or indirectly out of the charity was paid or payable for the current and previous periods lo any trustee or any persons known to be connected with any of them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the current and previous periods. As part of the organisation's insurance policy, trustees have been indemnified against consequence of any neglect or default on their behalf. NET INCOMING I OUTGOING RESOURCES Net incomingl{oulgoingl resources are ststed after charging.. 2024 2923 Oepreciation and amortisation Accountancy and Independent ExamineT'S fees 60,645 46,323 14-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 INTANGIBLE FIXED ASSETS Website Development Cost Al 31 March 2023 Additions Disposals 5,750 1,000 At 31 March 2024 ,750 Amortisation Al 31 March 2023 Charge for the year Disposals 3,049 2,014 At 31 March 2024 5,063 Net book value Al 31 March 2024 At 31 March 2023 10 TANGIBLE FIXED ASSETS Leasehold Improvements Motor Vehicles Equlprnent Total Cost At 31 March 2023 Additions Disposals 166,597 9,613 167,616 334.213 28.383 18,770 At 31 March 2024 18,770 176,210 167,616 362.596 Dgprgcialion Al 31 March 2023 Charge for the year Disposals 28,509 21,628 59.120 27,124 87,629 58,631 9.879 Al 31 March 2024 9,879 50,137 86,244 146,260 Net book value Al 31 March 2024 12 Al 31 Mar¢h 2023 All tangible fixed assets are held for charitable purposes. 15
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 11. DEBTORS 2024 2023 Trade debtors VAT and social security Prepayments and awrued income 31,977 4,903 48,591 16,479 39,593 68.039 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Awruals and deferred income {see below} Other creditors Hire purchase agreements 16,537 54,899 34,929 41,001 127,661 12,507 115,530 196,881 The obiigatr'ons under hire purchase agreements of £9,16512023.' £15,712) are secured by way of a rixed charge over the assets acquired. 31 March 2023 31 Mar¢h 2024 Receivablo Released Mlddlesbrough Football Club Foundation FSUK Membership fees Kavli Trust Expenses accrued 18,800 15,362 18,800 15,362 20,000 737 19,900 79,156 28 605 119,900) {59,156) 737 127,661 34,899 1107,6611 54.899 The deferrals included in creditor5 relate to those grants, donations and income specffied as relating lo a specific period and represent those parts of the granls, donations or income which relate to periods subsequent to the accounting year end and are Irealed a$ grants or income in advance, or alternatively where there are conditions which musl be fulfilled prior to enlitlemenl or use of the grant or donation by the charity. 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Hire purchase agreements The obligations under hire purchase agreements of £nil (2023.. £9,165) are secured by way of a fixed charge over the assets acquired. 16-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 14. RESTRICTED FUNDS For the year ended 31 Mar¢h 2024 Movement in r•sources: Balance 31 March 2023 Balance Transfers to 31 March In¢oming Outgolng Unrestricted 2024 Middlesbrough Foundation Asda Funding FSUK VVRAP cbthworkers Kavil Foundation Big Lottery 31,135 12,442 90, 523 5,403 3, 565 13,7231 12,4731 126,1061 11,1811 {8911 150,4021 27,412 9.969 70,739 4,222 2.674 8.754 6,322 59,156 22 631 165, 699 65,478 188,1711 143.006 F¢Y the year •nd•d 31 March 2023.. Alovement in rèsources.. Balance 31 March 2022 Balance Transfers to 31 March Incomlng Outgolng Unrestricted 2023 Mlddlesbrough Foundation Asda Funding FSUK WRAP Clothworters Kavil Found8tAon Big Lottery 50,000 (18,865) (3, 147) (24,085) (1,535) (1, 188) {82,083) 31, 135 12,442 90, 523 5,403 3,565 15,589 5, 765 6,938 4, 753 82,083 108.843 141,753 158,843 (134,89r) 165, 699 Asda Funding Capital funding received for capitsl improvements. FSUK Central van fvnding received for the purchase of a van. WRAP Funding received for various capacity enhancement, including reach truck, PPT, safety barriers, forklift truck charging, handwash and wage costs. Clothworkers Funding received for the pUhase Df a forklift truck. 17
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 14. RESTRICTED FUNDS l¢ontmusd) Big Lottery Funding received for the puhase of a frid9e freezer. Kavil FoundatSon During 2021-22 funding was awarded from the Kavli Trust for a tWD-calendar year period. This funding was restricted in the first year to cover six months of core cos15 for the Tees Food Hub and also lo fund training programme in partnership with Nourish Food School. Thi5 training programme is running throughout the year programme and will support beneficiaries in gaining vaSuable cookery life skills For the second year. in additton lo the partnership with Nourish Food School. funding ha$ been awarded to crUIt a Training Manager to SUPPDrt an in-house warehouse training programmè. Mlddle8brough Foundatlon Funding received for the purchase of refrigeration and Gosts for securing the Middlesbrough site. 15 UNRESTRICTED FUNDS For the year ended 31 March 2024: Balance At 31 Mar 2023 Balance At 31 Mar 2024 InGoming Outgoing Transfers Designated funds.. Caiilal fund Contingencies for closure 62.294 111377 120,1921 30,817 72,919 104957 Total designated funds 173,671 120,1921 24.397 177,876 General funds 547 673 531495 210669 392,559 547,673 1551,6871 388,S45 For the year ended 31 March 2023.. Balance At 31 M8r 2022 Balanco At31 Mar 2023 Incomlng Outgolng Transfers Designated funds.. Capital fund Gonlingencies for closure 88.301 0000 (23, 633) {2,374) 62,294 111377 Tot81 d85ign8ted funds 148.301 (23, 633) 49,003 173, 671 GeneTrl funds 585 234 278 888 229, 860 585, 234 (422, 535) 392,559 18-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 15 UNRESTRICTED FUNDS (continued) Doslgnatod funds are as follows: Capital fund - This fund in¢ludes all of the assets that are not covered by reslricled funds less any hire purchase liabilities in relation to the assets. Contingencies for closure - the balance has been based on the estimated costs of ck)sing the charity. 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Forthe year endod 31 March 2024: Intangible flxed assets Tangible fixed assets Net Current assets Long Term Liabllltl•s Total 2024 Restrlcted funds: Asda Funding FSUK WRAP Clolhworkers Big Lottery Middlesbrough Foundation Kavli Foundation 9,969 70,739 4,222 2,674 19.236 27.412 9,969 70,739 4,222 2,674 19,236 27,412 134,252 8,754 143.006 Designated funds: Capital fvnd Contingencies for closure General unrestTiCted funds 82,084 19,1651 104,957 208 982 72.919 104,957 210 669 Total funds 1.687 216,336 313,528 531,551 For the year ended 31 March 2023: Intangible fixed assets Tanglble flxed assets Net Current assets Long Term Llabilitles Total 2023 Restricted funds.. Asda Funding FSUK WRAP cbthworkers Big Lollery Middlesbrough Foundation 72,442 90,523 5,403 3.565 22.631 12,442 99,523 5,403 3,565 22,637 159.413 6.288 165,699 Déslgnated funds.. C8Pit81 fund Conlingenci8s for ¢losure General unre8trict8d funds 87,771 (15. 712) 111,317 216 187 (9, 165) 62,294 111,377 218 rotal funds 2,701 246, 584 318.138 (9. 165) 558,258 19-
FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 17. CONTROLLING PARTY In the opinion of the truslee$ the charity is not controlled by any single party. 18. TAXATION The charity is exempt from lax on income and gains falling within secb.on 505 of ihe Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitsble oty'ects. No tax charges have arisen in the chaiity. 20-