## **FARESHARE NORTH EAST**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
**Charity Number: 1189901**
## **DEBÉRE LIMITED**
Chartered Accountants Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ
## **FARESHARE NORTH EAST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
|**CONTENTS**|**PAGES**|
|---|---|
|Officers and professional advisers|1|
|Trustees’ annual report|2 to 4|
|Independent Examiners Report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 21|
## **FARESHARE NORTH EAST**
## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS**
## **YEAR ENDED 31 MARCH 2025**
## **Reference and Administrative Information**
|**Registered Office**|Stamfordham Road|
|---|---|
||Westerhope|
||Newcastle upon Tyne|
||Tyne and Wear|
||NE5 5HH|
|**Board of Trustees**|Craig Bankhead|
||Jane Tiplady|
||Andrew Hook – resigned 13 May 2025|
||Molly Malliris|
||Valerie Bell – resigned 29 April 2024|
||Steven Richardson – resigned 30 January 2025|
||Catharine Mitchell|
||Martin Brooks – resigned 9 June 2025|
||Christopher Parsons – resigned 31 August 2025|
||Harry Barham|
|**Chief Executive**|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|
||G1 2HL|
- 1 -
## **FARESHARE NORTH EAST REPORT OF THE TRUSTEES**
## **YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).
## **Objectives & Activities**
The charity’s objectives are contained in its Foundation Constitution, which states:
- (a) The relief of poverty and the promotion of good health and nutrition in North East England by redistributing surplus produce (in particular food) to organisations working to meet the needs of individuals in social, economic, health-related or emotional distress, and the needs of children; and
- (b) The conservation, protection 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 guidance on public benefit when reviewing aims and objectives, and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims & objectives they have set.
Details of specific aims, activities, and achievements are included in the Achievements and Performance section of the Trustees Report below.
## **Achievements & Performance**
During 2024 to 2025 FareShare North East delivered to 267 community groups across the region, supporting 185 from our Newcastle warehouse and 82 from our Middlesbrough warehouse, which we opened in March 2023. Over the course of the year we redistributed 1,352 tonnes of surplus food to these community groups, out of a total of 1,905 tonnes food received – with the balance being stored in our two warehouses as inventory to be used in future.
Compared to last year, 2023 -2024, we rescued an additional 433 tonnes and redistributed an additional 83 tonnes to an extra 37 community groups.
The food mix has changed during this year; around 50% of what we redistribute consists of fresh fruits & vegetables, with the rest being a mix of chilled, frozen, and ambient items – with the amount of ‘retail ready’ surplus decreasing, FareShare North East are redistributing increasing quantities of catering sized product or unfinished product directly from food production lines.
Our impact within the community remains strong, with our most recent survey data finding that 85% of community groups are able to access an increased variety of food through working with us, 82% are able to provide more fresh fruit & vegetables to their beneficiaries, and 78% say that they are able to stretch their organisation’s budget further by accessing food through FareShare. Without us, 80% of community groups report that they would have to scale back the food services they provide, and 43% say that it is extremely likely that they would have to close entirely.
As a charity, we are heavily reliant on volunteers to help us to get good food to good causes. During this financial year we a total of 255 people volunteer with us, of which around 140 are regular volunteers with us. These volunteers supported us with a combined 23,566 hours of their time with volunteers supporting us across the charity, and all of our van drivers are volunteers.
- 2 -
**FARESHARE NORTH EAST**
**REPORT OF THE TRUSTEES** _(continued)_
**YEAR ENDED 31 MARCH 2025**
## **Financial Review**
Like all charities, the challenging fundraising environment has continued for FareShare North East during 2024 – 2025 and is expected to continue well into 2025- 2026. As members of NCVO we have access to regular reports on issues affecting the sector, we have found that grant funding has become much harder to secure, and we have also had multi-year funding come to a natural end during this period.
Despite these challenging headwinds FareShare North East were able to successfully attract funding in the latter part of the financial year from key trusts & foundations _._ Although we had successes, this challenging funding landscape has led to a substantial deficit during 2024 - 2025, which the charity covered using charity reserves.
Given the ongoing challenges across the sector, the Trustees and Executive have implemented a strategy to strengthen the fundraising team, investing in additional capacity, and to diversify fundraising income to be less reliant on grants, trusts, & foundations. New areas of activity including a new approach to corporate partnerships, and a greater focus on campaigns, hosted events, and mass participation events throughout the year.
## **Principle Funding Sources**
The charity has a mix of funding sources, from grants, trusts, corporate partners, and contributions from community groups through membership of FareShare North East’s redistribution activities.
Notable funders this year include:
- Barbour Foundation
- Esmee Fairbairn
-
- Newcastle City Council Local Community Partnership Fund
- Sir James Knott Trust
- Garfield Weston
Corporate Partners
- Newcastle Building Society
- Sage
## **Reserves Policy**
The Trustees have set reserves target of the equivalent of between 3 & 6 months of operational costs, which would create a target for 2025 – 2026 of between £206,048 and £412,097.
As at 31 March 2025 the total unrestricted reserves were £293,957, of which £99,011 belongs to a designated capital fund, whilst £194,946 consists of unrestricted funds to cover operational costs.
## **Plans for Future Periods**
The changing nature of surplus food is going to be a key focus for the charity in coming years. Increasingly, FareShare North East is finding that ‘retail ready’ surplus food is becoming less widely available. In some ways this is a positive step, as less finished products are becoming surplus with retailers & wholesales, reducing waste overall, but it does mean that the mix of surplus food that a community group receives from us is changing. Supporting the community in adapting to this changing food landscape will be a key area of focus for FareShare North East in the coming years.
- 3 -
## **FARESHARE NORTH EAST**
## **REPORT OF THE TRUSTEES** _(continued)_
## **YEAR ENDED 31 MARCH 2025**
To support future sustainability, and to help respond to the changing food mix, FareShare North East intends to:
- Develop a new programme of corporate partnerships as part of a wider diversification of fundraising income
- Introduce afternoon van delivery runs to increase the utilisation of charity assets
- Increasing the proportion of fresh produce shared with community groups
- Continue to support our community groups in adapting to new types of surplus food, and manage the decrease in ‘retail ready’ surplus
FareShare North East is keenly aware of the demand in the community in the region, particularly in the Tees Valley area, and will actively seek to deliver more in this area should we be able to secure funding to do so.
## **Trustees’ responsibilities in relation to the Financial Statements**
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 Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the charity SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures being disclosed and explained in the financial statements; and
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and, hence, taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Independent Examiner**
A Resolution to appoint Claire Miller at Debére 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 trustees on 22 January 2026 and signed on its behalf by
Jane Tiplady Chair
- 4 -
## **FARESHARE NORTH EAST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF FARESHARE NORTH EAST**
## **YEAR ENDED 31 MARCH 2025**
I report on the accounts of the Charitable Incorporated Organisation for the year ended 31 March 2025, which are set out on pages 6 to 21.
## **Respective Responsibilities of Trustees and Examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (‘the 2011 Act’), and that an independent examiners report is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiners Report**
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all 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, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
- (1)
- Which gives me reasonable cause to believe 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 to comply with the accounting requirements of the 2011 Act.
have not been met; or
- (2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Claire Miller BA (Hons) FCA Independent Examiner
ON BEHALF OF DEBÉRE LIMITED Chartered Accountants
Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ
Date: 22 January 2026
- 5 -
## **FARESHARE NORTH EAST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 MARCH 2025**
|**Note**
**Unrestricted**
**Funds**
**General**
**£**
**Income from:**
Investment income
**4**
5,592
Charitable activities
**5**
397,187
Donations and legacies
29,845
**Total income**
432,624
**Expenditure:**
Charitable activities
505,285
**Total expenditure**
**6**
505,285
**Net incoming / (outgoing)**
**resources before transfers**
**8**
(72,661)
**Transfers**
Gross transfers between funds
56,938
**Net movement in funds**
(15,723)
Total funds brought forward
210,669
**Total funds carried forward**
194,946
|**Unrestricted**
**Funds**
**Designated**
**£**
**Restricted**
**Funds**
**£**
_–_
_–_
_–_
290,469
_–_
_–_
_–_
290,469
21,927
296,981
21,927
296,981
(21,927)
(6,512)
(56,938)
_–_
(78,865)
(6,512)
177,876
143,006
99,011
136,494
|**Total**
**Funds**
**2025**
**£**
5,592
687,656
29,845
723,093
824,193
824,193
(101,100)
_–_
(101,100)
531,551
430,451|_Total_
_Funds_
_2024_
_£_
_5,635_
_561,185_
_46,331_
_613,151_
_639,858_
_639,858_
_(26,707)_
_–_
_(26,707)_
_558,258_
_531,551_|
|---|---|---|---|
||
|||
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 8 to 21 form part of these financial statements
- 6 -
## **FARESHARE NORTH EAST** _Charity Number: 1189901_ **BALANCE SHEET**
## **31 MARCH 2025**
|**Notes**
**Fixed assets**
Intangible assets
**9**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors:**amounts falling due within one
year
**12**
**Net current assets**
**Net assets**
**Net assets**
**Funds**
Restricted funds
**13**
**Unrestricted funds:**
**14**
Designated funds
General funds
**Total charity funds**
**15**|**2025**
**£**
540
215,581
80,198
265,306
345,504
(131,174)|
**£**
216,121
214,330
430,451
136,494
99,011
194,946
430,451
|_2024_
_£_
_£_
_1,687_
_216,336_
_218,023_
39,593
389,465
429,058
(115,530)
_313,528_
_531,551_
_143,006_
_177,876_
_210,669_
_531,551_|
|---|---|---|---|
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 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) (Charities SORP (FRS 102)).
For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors/trustees responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors/trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the Board of Trustees on 22 January 2026 and signed on their behalf by:
Jane Tiplady Chair
The notes on pages 8 to 21 form part of these financial statements
- 7 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the charity’s governing document, the Companies Act 2006 and “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 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, Westerhope, Newcastle upon Tyne, Tyne and Wear, NE5 5HH.
.
FareShare 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 stated in the relevant accounting policy.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the levels of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Fund accounting**
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to 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 funds 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 measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when received. Intangible income is not included unless it represents goods or services which would have otherwise been purchased. Gifts in kind are valued and brought in as income and the appropriate expenditure. There were no gifts in kind in the year ended 31 March 2025.
## **Investment income**
Interest is included when receivable by the charity.
- 8 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES** _(continued)_
## **Expenditure**
All expenditure is accounted for on an accruals basis.
Charitable activities include all costs relating to activities where the primary aim is part of the objects of the charity along with the indirect costs. The indirect costs have been apportioned on a reasonable basis.
Governance costs include audit and accountancy fees as well as the Annual General Meeting costs.
## **Operating lease agreements**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of 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.
## **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Statement of Financial Position 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 within interest payable and similar charges.
## **Financial instruments**
The charity has elected to apply 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 liabilities qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Pension 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 of Financial Activities.
- 9 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES** _(continued)_
## **Intangible Assets and Amortisation**
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation is calculated so as to write off the cost of an asset, less it’s estimated residual value, over the useful economic life of that asset as follows:
Website development
33% straight line
## **Tangible Fixed Assets and Depreciation**
Tangible fixed assets are capitalised and included at cost.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment 15% reducing balance Motor vehicles 25% reducing balance Leasehold improvements 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 capitalised as an intangible or tangible fixed asset.
Employees are only entitled to carry forward unused holiday entitlement in exceptional circumstances, and only by agreement with management. The cost of any unused entitlement is recognised in the period in which the employee’s services are required.
## **Critical Accounting Estimates and Areas Of Judgement**
Estimates 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 circumstances.
The only significant area of judgement is the useful economic lives of fixed assets, details of which are given above.
- 10 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **2. STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR**
|**Note**
**Unrestricted**
**Funds**
**General**
**£**
**Unrestricted**
**Funds**
**Designated**
**£**
**Restricted**
**Funds**
**£**
**Income from:**
Investment income
**4**
5,635
–
–
Charitable activities
**5**
495,707
–
65,478
Donations and legacies
46,331
–
–
**Total income**
547,673
–
65,478
**Expenditure:**
Charitable activities
531,495
20,192
88,171
**Total expenditure**
**6**
531,495
20,192
88,171
**Net incoming / (outgoing)**
**resources before transfers**
**8**
16,178
(20,192)
(22,693)
**Transfers**
Gross transfers between funds
(24,397)
24,397
_–_
**Net movement in funds**
(8,219)
4,205
(22,693)
Total funds brought forward
218,888
173,671
165,699
**Total funds carried forward**
210,669
177,876
143,006
|**Total**
**Funds**
**2024**
**£**
5,635
561,185
46,331
613,151
639,858
639,858
(26,707)
_–_
(26,707)
558,258
531,551|
|---|---|
## **3. COMPANY STATUS**
The company is a charitable incorporated organisation.
## **4. INVESTMENT INCOME**
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
Bank interest
5,592
–
Interest received on VAT
–
–
5,592
–
|**2025**
**£**
5,592
–
5,592
|_2024_
_£_
_5,634_
_1_
_5,635_
|
|---|---|---|
In the year ended 31 March 2025, income from other trading activities of £5,592 (2024: £5,635 ) was unrestricted and £nil (2024: £nil) was restricted.
- 11 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
FSUK
_–_
18,800
Groundwork Tesco
_–_
_–_
Ludlow Trust
7,539
_–_
Fundraising
2,219
_–_
Membership income – CFM
368,132
_–_
Community Foundation
_–_
_–_
County Durham grant
_–_
_–_
Postcode Community Trust
_–_
_–_
Kavli Foundation
_–_
20,000
Garfield Weston
_–_
41,667
Sundry income
_–_
_–_
Profit on disposal of fixed assets
_–_
_–_
Esmee Fairbairn
_–_
50,000
Newcastle Local Community Fund
_–_
55,011
1961 Charitable Trust
_–_
10,000
Joicey Trust
1,500
_–_
Austin & Hope Pilkington
_–_
500
Chrysalis Trust
_–_
6,000
William Leach
5,000
_–_
Tees Valley Community Foundation
2,292
_–_
The Shears Foundation
5,500
_–_
Catherine Cookson
_–_
1,500
Rothley Trust
_–_
1,200
James Knott Trust
_–_
30,000
Barbour Foundation
_–_
33,333
Newcastle Fund
_–_
22,458
Benevity
5,005
_–_
397,187
290,469|**2025**
**£**
18,800
_–_
7,539
2,219
368,132
_–_
_–_
_–_
20,000
41,667
_–_
_–_
50,000
55,011
10,000
1,500
500
6,000
5,000
2,292
5,500
1,500
1,200
30,000
33,333
22,458
5,005
687,656|_2024_
_£_
_33,972_
_1,000_
_51,780_
_22,776_
_301,274_
_10,000_
_10,000_
_70,000_
_59,156_
_–_
_427_
_800_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_561,185_|
|---|---|---|
In the year ended 31 March 2025, income from charitable activities of £397,187 (2024: £495,707) was unrestricted and £290,469 (2024: £65,478) was restricted.
- 12 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **6. EXPENDITURE**
|Charitable activities
Governance costs|**Direct**
**Costs**
**£**
2,258
–
2,258|**Staff**
**Costs**
**£**
490,516
–
490,516|**Depre-**
**ciation**
**Other**
**Costs**
**2025**
_2024_
**£**
**£**
**£**
_£_
53,457
275,062
821,293
637,008
–
2,900
2,900
2,850
53,457
277,962
824,193
639,858|
|---|---|---|---|
In the year ended 31 March 2025, total expenditure of £527,212 (2024: £551,687) was unrestricted and £296,981 (2024: £88,171) was restricted.
## **Governance costs are made up as follows:**
|Independent Examiners fees
Accountancy fees
**Other costs are made up as follows:**
Rent and utilities
Telephone
Printing and office supplies
Repairs and maintenance
Cleaning and hygiene
Travelling expenses
Motor vehicles expenses
Vehicle hire
Equipment hire
Insurance
Fees 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||
|---|---|
- 13 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **7. STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL**
## **The aggregate payroll costs were:**
|Wages and salaries
Social security costs
Other pension costs
Staff support costs|**2025**
**£**
427,430
33,057
9,093
20,936
490,516
|_2024_
_£_
_346,758_
_22,830_
_6,532_
_32,943_|
|---|---|---|
|||_409,063_|
No employee (2024: no employee) earned in excess of £60,000 (2024: £60,000) during the year.
## **Particulars of employees:**
The average number of staff employed by the charity during the financial period amounted to:
||**2025**|_2024_|
|---|---|---|
||**No**|_No_|
|Total|15|_15_|
## **Trustees' remuneration and expenses**
No remuneration directly or indirectly out of the charity was paid or payable for the current and previous periods to 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.
## **8. NET INCOMING / OUTGOING RESOURCES**
Net incoming/(outgoing) resources are stated after charging:
|||**2025**|_2024_|
|---|---|---|---|
|||**£**|_£_|
|Depreciation|and amortisation|53,457|_60,645_|
|Accountancy|and Independent Examiner’s fees|2,900|_2,850_|
- 14 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **9. INTANGIBLE FIXED ASSETS**
||**Website**|
|---|---|
||**Development**|
||**£**|
|**Cost**||
|At 31 March 2024|6,750|
|Additions|–|
|Disposals|–|
|**At 31 March 2025**|6,750|
|**Amortisation**||
|At 31 March 2024|5,063|
|Charge for the year|1,147|
|Disposals|–|
|**At 31 March 2025**|6,210|
|**Net book value**||
|At 31 March 2025|540|
|_At 31 March 2024_|_1,687_|
## **10. TANGIBLE FIXED ASSETS**
|**Leasehold**
**Improvements**
**Equipment**
**Motor**
**Vehicles**
**£**
**£**
**£**
**Cost**
At 31 March 2024
18,770
176,210
167,616
Additions
9,913
2,352
39,290
Disposals
–
–
–
At 31 March 2025
28,683
178,562
206,906
**Depreciation**
At 31 March 2024
9,879
50,137
86,244
Charge for the year
9,567
19,125
23,618
Disposals
–
–
–
At 31 March 2025
19,446
69,262
109,862
**Net book value**
At 31 March 2025
9,237
109,300
97,044
_At 31 March 2024_
_8,891_
_126,073_
_81,372_|**Total**
**£**
362,596
51,555
–|
|---|---|
||414,151|
||146,260
52,310
–|
||198,570
215,581|
||
216,336|
All tangible fixed assets are held for charitable purposes.
- 15 -
**FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **11. DEBTORS**
|Trade debtors
VAT and social security
Prepayments and accrued income
**REDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and deferred income (see below)
Other creditors
Hire purchase agreements|**2025**
**£**
63,658
8,527
8,013
80,198
**2025**
**£**
17,882
107,457
5,835
–
131,174
|_2024_
_£_
_31,977_
_4,903_
_2,713_
_39,593_
_2024_
_£_
_16,537_
_54,899_
_34,929_
_9,165_|
|---|---|---|
|||_115,530_
|
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
The obligations under hire purchase agreements of £nil (2024: £9,165) are secured by way of a fixed charge over the assets acquired.
## **Breakdown of accruals and deferred income:**
||_31 March_|||**31 March**|
|---|---|---|---|---|
||_2024_|**Receivable**|**Released**|**2025**|
||_£_|**£**|**£**|**£**|
|FSUK|_18,800_|_–_|(18,800)|_–_|
|Membership fees|_15,362_|16,500|(15,362)|16,500|
|Kavli Trust|_20,000_|_–_|(20,000)|_–_|
|Expenses accrued|_737_|1,129|(737)|1,129|
|Austin & Hope|_–_|500|_–_|500|
|Tees Valley Community Foundation|_–_|208|_–_|208|
|Barbour Foundation|_–_|6,667|_–_|6,667|
|Garfield Weston|_–_|8,333|_–_|8,333|
|Ludlow|_–_|15,078|_–_|15,078|
|The Joicey Trust|_–_|500|_–_|500|
|Newcastle Fund|_–_|2,042|_–_|2,042|
|Graham Bestford|_–_|6,500|_–_|6,500|
|Esmee Fairbairn|_–_|50,000|_–_|50,000|
||_54,899_
|107,457|(54,899)
|107,457|
The deferrals included in creditors relate to those grants, donations and income specified as relating to a specific period and represent those parts of the grants, donations or income which relate to periods subsequent to the accounting year end and are treated as grants or income in advance, or alternatively where there are conditions which must be fulfilled prior to entitlement or use of the grant or donation by the charity.
- 16 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **13. RESTRICTED FUNDS**
## **For the year ended 31 March 2025:**
|_Balance_
_31 March_
_2024_
_£_
Middlesbrough Foundation
_27,412_
Asda Funding
_9,969_
FSUK
_70,739_
WRAP
_4,222_
Clothworkers
_2,674_
Kavil Foundation
_8,754_
Big Lottery
_19,236_
Esmee Fairbairn
–
Newcastle Local Community
Fund
–
1961 Charitable Trust
–
Austin & Hope Pilkington
–
Chrysalis Trust
–
Catherine Cookson
–
Sir James Knott Trust
–
Garfield Weston
–
Barbour Foundation
–
Newcastle Fund
_–_
Rothley Trust
–
_143,006_|**Movement in resources:**
**Incoming**
**Outgoing**
**Transfers to**
**Unrestricted**
**Balance**
**31 March**
**2025**
**£**
**£**
**£**
**£**
–
(9,458)
–
17,954
–
(1,950)
–
8,019
18,800
(32,251)
–
57,288
–
(911)
–
3,311
–
(668)
–
2,006
20,000
(28,754)
–
–
–
(2,886)
–
16,350
50,000
(30,076)
–
19,924
55,011
(55,011)
–
–
10,000
(833)
–
9,167
500
(500)
–
–
6,000
(6,000)
–
–
1,500
(125)
–
1,375
30,000
(30,000)
–
–
41,667
(41,667)
–
–
33,333
(33,333)
–
–
22,458
(22,458)
_–_
_–_
1,200
(100)
–
1,100
290,469
(296,981)
–
136,494|
|---|---|
## _**For the year ended 31 March 2024:**_
|Middlesbrough Foundation
Asda Funding
FSUK
WRAP
Clothworkers
Kavli Foundation
Big Lottery|**Movement in resources:**
_Balance_
_31 March_
_2023_
**Incoming**
**Outgoing**
**Transfers to**
**Unrestricted**
**Balance**
**31 March**
**2024**
_£_
**£**
**£**
**£**
**£**
_31,135_
_–_
(3,723)
_–_
27,412
_12,442_
_–_
(2,473)
_–_
9,969
_90,523_
6,322
(26,106)
_–_
70,739
_5,403_
_–_
(1,181)
_–_
4,222
_3,565_
_–_
(891)
_–_
2,674
_–_
59,156
(50,402)
_–_
8,754
_22,631_
_–_
(3,395)
–
19,236
_165,699_
65,478
(88,171)
_–_
143,006|
|---|---|
- 17 -
## **FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **13. RESTRICTED FUNDS** _(continued)_
## **Middlesbrough Foundation**
Funding received for the purchase of refrigeration and costs for securing the Middlesbrough site. The capital balance carried forward £17,954 (2024: £27,412).
## **Asda Funding**
Capital funding received for capital improvements. The capital balance carried forward is £8,019 (2024: £9,969).
## **FSUK**
Central van funding received for the purchase of a van. The capital balance carried forward is £57,288 (2024: £70,739).
## **WRAP**
Funding received for various capacity enhancement, including reach truck, PPT, safety barriers, forklift truck charging, handwash and wage costs. The capital balance carried forward is £3,311 (2024: £4,222).
## **Clothworkers**
Funding received for the purchase of a forklift truck. The capital balance carried forward is £2,006 (2024: £2,674).
## **Kavli Foundation**
During 2021-22 funding was awarded from the Kavli Trust for a two-calendar year period. This funding was restricted in the first year to cover six months of core costs for the Tees Food Hub and also to fund a training programme in partnership with Nourish Food School. This training programme is running throughout the two-year programme and will support beneficiaries in gaining valuable cookery life skills. For the second year, in addition to the partnership with Nourish Food School, funding has been awarded to recruit a Training Manager to support an in-house warehouse training programme.
## **Big Lottery**
Funding received for the purchase of a fridge freezer. The capital balance carried forward is £16,350 (2024: £19,236).
## **Esmee Fairbairn**
Part of a three-year project exploring Food Systems Change in the Middlesbrough and wider Tees Valley area, intended to better link people and community groups with local food and explore ways that both local and nationally sourced surplus food can help meet the needs & preferences of the local community.
## **Newcastle City Council: Local Community Partnership Fund**
This funding enabled us to deliver a comprehensive programme of support for our Newcastle based volunteers and aim to get more people from a number of key areas of Newcastle actively involved in volunteering with us.
## **1961 Charitable Trust**
Funding received towards the purchase of a van. The capital balance carried forward is £9,167 (2004: £nil).
## **Austin & Hope Pilkington**
This funding contributed to the running of a series of cookery skills courses delivered in collaboration with Nourish Food School.
## **Chrysalis Trust**
This funding enabled us to purchase equipment for a ‘refill station’ trial project with some of our community groups, helping them to adapt to the changing surplus food landscape.
- 18 -
## **FARESHARE NORTH EAST NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **13. RESTRICTED FUNDS** _(continued)_
## **Catherine Cookson**
Funding received towards the purchase of a van. The capital balance carried forward is £1,375 (2024: £nil).
## **Rothley Trust**
Funding received towards the purchase of a van. The capital balance carried forward is £1,100 (2024: £nil).
## **Sir James Knott Trust**
Funding award to support core costs relating to our Newcastle operations, both within the Hub itself and to help support the operating costs of our delivery vans based there.
## **Garfield Weston**
Funding award to support core costs relating to our Newcastle operations, both within the Hub itself and to help support the operating costs of our delivery vans based there.
## **Barbour Foundation**
Funding award to support our work to get good to eat surplus food to community groups across South Tyneside, which we deliver every week from our Newcastle Hub.
## **Newcastle Fund (Newcastle City Council)**
Funding awarded to support our work in Newcastle, especially our work with volunteers from the communities surrounding our Hub in Westerhope.
## **14. UNRESTRICTED FUNDS**
**For the year ended 31 March 2025:**
||_Balance At_||||**Balance**|
|---|---|---|---|---|---|
||_31 Mar_||||**At 31 Mar**|
||_2024_|**Incoming**|**Outgoing**|**Transfers**|**2025**|
||_£_|**£**|**£**|**£**|**£**|
|_Designated funds:_||||||
|Capital fund|_72,919_|–|(21,927)|48,019|99,011|
|Contingencies for closure|_104,957_|–|–|(104,957)|_–_|
|Total designated funds|_177,876_|–|(21,927)|(56,938)|99,011|
|_General funds_|_210,669_|432,624|(505,285)|56,938|194,946|
||_388,545_|432,624|(527,212)|–|293,957|
- 19 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **14. UNRESTRICTED FUNDS** _(continued)_
## _**For the year ended 31 March 2024:**_
||_Balance At_||||**Balance**|
|---|---|---|---|---|---|
||_31 Mar_||||**At 31 Mar**|
||_2023_|**Incoming**|**Outgoing**|**Transfers**|**2024**|
||_£_|**£**|**£**|**£**|**£**|
|_Designated funds:_||||||
|Capital fund|_62,294_|_–_|(20,192)|30,817|72,919|
|Contingencies for closure|_111,377_|_–_|_–_|_(6,420)_|104,957|
|Total designated funds|_173,671_|_–_|(20,192)|24,397|177,876|
|_General funds_|_218,888_|547,673|(531,495)|(24,397)|210,669|
||_392,559_|547,673|(551,687)|_–_|388,545|
## **Designated funds are as follows:**
Capital fund – This fund includes all of the assets that are not covered by restricted funds less any hire purchase liabilities in relation to the assets.
Contingencies for closure – the balance has been based on the estimated costs of closing the charity.
## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **For the year ended 31 March 2025:**
|**Intangible**
**Tangible**
**fixed**
**assets**
**fixed**
**assets**
**£**
**£**
**Restricted funds:**
Asda Funding
_–_
8,019
FSUK
_–_
57,288
WRAP
_–_
3,311
Clothworkers
_–_
2,006
Big Lottery
_–_
16,350
Middlesbrough Foundation
_–_
17,954
Esmee Fairbairn
_–_
_–_
1961 Charitable Trust
_–_
9,167
Catherine Cookson
_–_
1,375
Rothey Trust
_–_
1,100
_–_
116,570
**Designated funds:**
Capital fund
_–_
99,011
General unrestricted funds
540
_–_
**Total funds**
540
215,581|**Net**
**Long**
**Current**
**assets**
**Term**
**Liabilities**
**£**
**£**
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
_–_
19,924
_–_
_–_
_–_
_–_
_–_
_–_
_–_
19,924
_–_
_–_
_–_
194,406
_–_
214,330
_–_|**Total**
**2025**
**£**
8,019
57,288
3,311
2,006
16,350
17,954
19,924
9,167
1,375
1,100
136,494
99,011
194,946
430,451|
|---|---|---|
- 20 -
## **FARESHARE NORTH EAST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2025**
## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS** _(continued)_
## **For the year ended 31 March 2024:**
|**Intangible**
**Tangible**
**Net**
**Long**
**fixed**
**assets**
**fixed**
**assets**
**Current**
**assets**
**Term**
**Liabilities**
**£**
**£**
**£**
**£**
**Restricted funds:**
Asda Funding
_–_
9,969
_–_
_–_
FSUK
_–_
70,739
_–_
_–_
WRAP
_–_
4,222
_–_
_–_
Clothworkers
_–_
2,674
_–_
_–_
Big Lottery
_–_
19,236
_–_
_–_
Middlesbrough Foundation
_–_
27,412
_–_
_–_
Kavli Foundation
_–_
_–_
8,754
_–_
_–_
134,252
8,754
_–_
**Designated funds:**
Capital fund
_–_
82,084
(9,165)
_–_
Contingencies for closure
_–_
_–_
104,957
_–_
General unrestricted funds
1,687
_–_
208,982
_–_
**Total funds**
1,687
216,336
313,528
_–_|**Total**
**2024**
**£**
9,969
70,739
4,222
2,674
19,236
27,412
8,754
143,006
72,919
104,957
210,669
531,551|
|---|---|
## **16. CONTROLLING PARTY**
In the opinion of the trustees the charity is not controlled by any single party.
## **17. TAXATION**
The charity is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
- 21 -