2022
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CROYDON FOODBANK Annual Report & Financial Statements
Year ended 31 March 2022
[ Charity number 1190290]
LQ & Co. Accountancy Ltd.
CROYDON FOODBANK
Annual Report & Financial Statements For the year ended 31 March 2022
| Contents | Page |
|---|---|
| Trustees’ Report | 3-6 |
| Examiner’s Report | 7 |
| Receipts and Payments Account | 8 |
| Statement of Assets & Liabilities | 9 |
| Note to the accounts | 10-11 |
LQ & Co. Accountancy Ltd
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CROYDON FOODBANK
Trustees’ Report for the year ended 31 March 2022
The trustees present and acting during and up to the date of the financial year end were as follows:
Name: Position Mr. Anthony Philips Rev. Richard Ayetey Mr. Samuel Kwabena Ackah Chair & contact Charity Registration Number : 1190290 Date of Registration : 8[th] July, 2020 Principal Address : Unit 5, Pitlake Estate. Croydon. CR0 3RA Bankers: HSBC (UK), Streatham Hill. London. SW2 4UE
Independent Examiner
LQ & Co. Accountancy Ltd. 136 Waters Road London SE6 1UQ
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CROYDON FOODBANK
Structure, governance and management
The charity is a Charitable Incorporated Organisation ( CIO) which is governed by a foundation constitution adopted on the 8[th] of June 2020.
Method of recruitment and appointment of Trustees
The trustees of the charity are appointed by the members at an AGM.
Objectives and Activities
Main Objectives
To provide relief of financial hardship amongst people in Croydon and surrounding area in particular, but not exclusively by:
A] providing emergency food, essential toiletries and household items to individuals and families in need and/or for the distribution by charities or other organizations working to prevent or relieve poverty,
B] such other means, including ( but not limited to) the provision of support or signposting to relevant information and other advisory services.
Summary of the main activities in relation to those purposes for the public benefit the activities, projects or services identified in the accounts
The year 2021-22 has brought unprecedented demands on all foodbanks due to general economic hardships caused by the effects of the pandemic ( COVID-19). Activities included:
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Ensuring constant food supply for all claimants
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Being able to deliver food to the most vulnerable in Croydon and surrounding areas and to aid food collection drives ( means of transportation)
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Provision of counseling and support at the centres ( Presence of vicar during opening times),
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Partnership working with other charities and religious bodies,
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Increase the extent of our reach to those in need,
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Increase the skills and knowledge of volunteers
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Improve stock control operations
Contribution made by volunteers
Our Volunteers have worked exceptionally well during this period undertaking various activities from food collection, delivery,serving and supporting claimants. There were 14 volunteers and a management team of 5 which comprised of a Site Manager Administrator, Team Leader, Volunteer Relations , Recruitment Manager and a Warehouse Manager.
Volunteers worked tirelessly during peak lockdown to ensure that Key workers and the volnurable were supported with the needed parcels. Some using their own transport to aid the huge numbers of deliveries during the period.
Achievements and Successes
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Acquisition of a minibus with the help of our donors. This has aided in delivery to the most vulnerable who were unable to attend the foodbank in person due to illness, age, isolation, etc. this also boosted our food collection efforts from donors,
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Collaboration with other charities and bodies increased. The Salvation Army, Praise Gate Temple, British Gas Engineers all assisted greatly in various ways,
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The presence of a vicar on site during opening hours to aid counseling and guidance was hugely appreciated,
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Widened our Food collection network across the community,
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Improvement in operation capabilities and reduction in food waste by implementing new and efficient stock control practices and effective warehouse management and storage systems,
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The managed to support a total of 3908 people with food parcels and essentials ( 2670 adults, 1238 children). The total weight of food parcels given out was in excess of 25237 kg.
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CROYDON FOODBANK
Trustees’ Report for the year ended 31 March 2022
Appreciation to the following Organisations that supported the charity with grants and donations
The year has been a difficult period for all businesses or organizations but our successes and continuous existence and operations cannot be celebrated without the support of the following organizations:
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The Foyle Foundation
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Beddington ERF Community Funds
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City Bridge Trust
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Praise Gate Temple – Croydon.
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Salvation Army – Croydon
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Individual Donors ( @ GoodtoGive)
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The Trussel Trust
Challenges and Risks
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Staffing ( Volunteers) ; As the country battles with staff shortages across every sector, the charity has also struggled ensuring that we reain opened and supportive to help provide essential services to community,
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Warehousing facilities: it is very expensive keeping up with costs of warehouse and other relevant facilities and equipment to reduce food waste,
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Food shortages: The economic hardship in the country is real. Families are struggling hence the dependency on our Foodbank has increased tremendously,
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Donations from the superstores like Tesco and ASDA have not been enough. The charity has severally raised funds to purchase provisions and essentials to replenish stock,
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- Running costs: ( Operational Costs); The cost of rent and other utilities and amenities is running high in these times. The charity runs risks of being overwhelmed in the nearest future due to the lack of regular source of funds.
Financial Review
A total receipt from donations and grants for the year under review was £ 13,069 and a total payment was £ 52,207. There was a deficit of £39,138 for the year, leaving a net asset of £11,050.
With such a significant reduction in income from last year and expenditure levels remaining almost the same ( high). Unless the donors and partners can inject sufficient funds, it is unlikely that the charity cam continue effective operations in the foreseeable future.
Reserves Policy
The charity has no formal reserves policy . This situation is currently under review by the trustees .
Signed on behalf of the board of trustees on 27[th ] Nov, 2022
Samuel K Ackah
Name: Mr. Samuel Kwabena Ackah
( Trustee)
CROYDON FOODBANK
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Independent Examiner’s Report
I report to the trustees of Croydon Foodbank on my examination of the accounts for the year ended 31 March 2022, which are set out on pages 8 – 11.
Responsibilities of the Trustees
As trustees of the CIO, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 [‘the Act’].
I report in respect of my examination of the charity’s accounts as carried out under section 15 of the 2011 Act. I carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145[5][b] of the Act.
Independent Examiner’s Statement
I have completed my examination and can confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.that:
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Accounting records were not kept in respect to the CIO as required by section 130 of the Act; or
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The accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E Quarshie FCCA
EmQuarshie
Date: 30[th] November, 2022
LQ & Co. Accountancy Ltd.
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CROYDON FOODBANK
Receipts and Payments Account
For the year end 31 March 2022 .
| Notes Funds Receipts Donations & Grants Total Receipts Payments Consultancy fees Purchase of equipmet & van Repairs, maintenance & housekeeping Motor expenses Rent Stationery , printing & subscriptions Storage Loan repayments Telephone & internet Volunteers expenses Total Payments NET SURPLUS/(DEFICIT) Fund balances brought forward Fund balances carried forward |
2022 2022 2022 2021 Unrestricted Restricted Total Total £ £ £ £ 13,069 13,069 120,799 13,06913,069 120,799 2,124 - 2,124 12,390 528 - 528 11,724 1,743 - 1,745 1,313 870 - 870 2,601 12,500 - 12,500 13,000 1.272 - 1,272 726 8,069 - 8,069 5,110 - - - 10,942 3,188 - 3,188 1,254 20,463 - 20,463 19,400 52,207 - 52,207 78,410 ( 39,207) - (39,207) 42,389 50,188 - 50,188 7,799 11,050 - 11,050 50,188 |
2022 2022 2022 2021 Unrestricted Restricted Total Total £ £ £ £ 13,069 13,069 120,799 13,06913,069 120,799 2,124 - 2,124 12,390 528 - 528 11,724 1,743 - 1,745 1,313 870 - 870 2,601 12,500 - 12,500 13,000 1.272 - 1,272 726 8,069 - 8,069 5,110 - - - 10,942 3,188 - 3,188 1,254 20,463 - 20,463 19,400 52,207 - 52,207 78,410 ( 39,207) - (39,207) 42,389 50,188 - 50,188 7,799 11,050 - 11,050 50,188 |
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CROYDON FOODBANK
Statement of Assets & Liabilities as at 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Tangible Fixed assets | - | - |
| Current Assets | ||
| Bank | 17,107 | 56,245 |
| Current Liabilities | ||
| Accruals | ( 6,058) |
(6,058) |
| Net Current Assets | 11,050 | 50,188 |
| NET ASSETS | 11,050 | 50,188 |
| Fund balances carried forward | 11,050 |
50,188 |
| Approval of the Accounts |
The financial statements were approved by the Board of Trustees on 27[th] November ,2022…. Trustee : Samuel K Ackah
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CROYDON FOODBANK
Notes to the accounts for the year ended 31 March 2022
1 Accounting policies
Basis of accounting
The trustees have taken advantage of section 133 of he Charities Act 2011 and have prepared the accounts on a receipts and payments basis. There is therefore no charge for depreciation.
Taxation
As a charity, the organization benefits from rates relief and is generally exempt from income tax and capital gains tax but not VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity.
Restricted funds, on the other hand, are subjected to restrictions on their expenditure imposed by the donor or through the terms of the appeal.
2 Related Party Transactions
Trustee Remunerations
No trustee received payments for their work as trustees during the period under review
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