ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
SWALE FOODBANK
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1190373
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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SWALE FOODBANK
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal & Administrative Information |
|---|---|
| Page 4 | Trustees' Report |
| Page 5 | Statement of Financial Activities |
| Page 6 | Balance Sheet |
| Pages 7 to 13 | Notes to the Financial Statements |
| Page 14 | Independent Examiner's Report |
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SWALE FOODBANK
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1190373 DATE OF REGISTRATION 13th July 2020 START OF FINANCIAL YEAR 1st April 2021 END OF FINANCIAL YEAR 31st March 2022 TRUSTEES AT 31ST MARCH 2022 Peter Judd Gary Hearn Peter Le Beau MBE Gordon Watson (Resigned 1st April 2022) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 13th July 2020
OBJECTS
The prevention or relief of poverty in Swale and North Kent by providing, grants, items and services to individuals in need and/or Charities, or other organisations working to prevent or relieve poverty.
CORRESPONDENCE ADDRESS Swale Foodbank Net Church 95 East Street Sittingbourne ME10 4BL PRIMARY BANKERS NatWest Bank Plc 250 Bishopgate London EC2M 4AA INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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SWALE FOODBANK TRUSTEES REPORT FOR TIYÉ YEAR EMDED31STMARCH 20n siloi Iiots
SWALE FOODBANK
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward Introduction of Fixed Assets 2 & 17 Transfer Between Funds 5 TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 20,583 43,571 64,154 106,329 20,583 43,571 64,154 106,329 48,105 33,736 81,841 37,006 700 - 700 650 48,805 33,736 82,541 37,656 (28,222) 9,835 (18,387) 68,673 68,037 8,500 76,537 - - - - 7,864 (10,997) 10,997 - - 28,818 29,332 58,150 76,537 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 13 form part of these financial statements.
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SWALE FOODBANK AS AT 31ST MARCH 2ty22 Tot1 Trt•l 31.IAar42 )14lar41 Fthjs Flx•l Ax•ts etlors & Prewiwil¥ 24. 70.539 70JJ9 2J32 164 341 7SJ37 rmJar JJ18 50,150 76,SJ7 28lJ18 1111* 6J.037 T•i•l Fw4• 24J32 1S0 76,S37 Q. SVQI)
SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment Motor Vehicles
25% - Reducing Balance Basis
25% - Reducing Balance Basis
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
2. TANGIBLE FIXED ASSETS
| Cost 01-Apr-21 Additions Net Book Value at 31-Mar-22 Depreciation 01-Apr-21 Charge Depreciation at 31-Mar-22 Net Book Value 31-Mar-22 Net Book Value 31-Mar-21 |
Fixtures & Peugeot Renault Total Fittings Van Van 2021/22 £ £ £ £ - 1,000 7,864 8,864 - - - - - 1,000 7,864 8,864 - 250 1,966 2,216 - 188 1,475 1,662 - 438 3,441 3,878 - 563 4,424 4,986 - 750 5,898 6,648 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2022: None 31st March 2021: None
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations Grants Received 4. RESOURCES EXPENDED a) Cost of Charitable Activities Accommodation Costs Advertising & Publicity Depreciation Expense Equipment Costs Food Costs Gifts & Grants Insurance Costs Motor Vehicle Expenses Office Costs Recycling Costs Rent & Rates Staff Costs Sundry Expenses Utility Costs |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 17,590 14,086 31,676 53,518 2,993 29,485 32,478 52,811 20,583 43,571 64,154 106,329 Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 2,195 - 2,195 - 104 - 104 69 1,662 - 1,662 2,216 475 - 475 - 6,213 3,732 9,945 - 1,500 8,500 10,000 10,000 1,194 - 1,194 1,268 546 - 546 153 1,898 - 1,898 290 624 - 624 204 25,390 - 25,390 10,500 4,696 20,388 25,084 11,332 914 1,116 2,030 644 694 - 694 330 48,105 33,736 81,841 37,006 |
|---|---|
| ` b) Governance Costs Independent Examiners Fees 9 |
700 - 700 650 700 - 700 650 |
|---|---|
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| ASDA Fund DEFRA Fund Holiday Club Fund Strategic Resources Fund |
Balance Balance 01-Apr-21 Income Expenditure Transfers 31-Mar-22 £ £ £ £ £ - 6,900 17,897 10,997 - 8,500 - 8,500 - - - 14,086 4,848 - 9,238 - 22,585 2,491 - 20,094 8,500 43,571 33,736 10,997 29,332 |
|---|---|
PREVIOUS FINANCIAL PERIOD
| ASDA Fund DEFRA - White Goods Fund DEFRA Fund |
Balance Balance 13-Jul-20 Income Expenditure Transfers 31-Mar-21 £ £ £ £ £ - 6,900 8,462 1,562 - - 10,000 10,000 - - - 10,500 2,000 - 8,500 - 27,400 20,462 1,562 8,500 |
|---|---|
The restricted funds held are wholly represented by the CIO's cash reserves and are to be expended as specified above.
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
6. INVESTMENTS
The CIO held no fixed assets investments during this initial financial period.
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total Total |
|
|---|---|---|---|
| Fund | Fund | 31-Mar-22 31-Mar-21 |
|
| £ | £ | £ £ |
|
| Cash at Bank & in Hand | 24,532 | 29,332 53,864 70,539 |
|
| 24,532 | 29,332 53,864 70,539 |
||
| 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Fund £ - |
Restricted Fund £ |
Total Total 31-Mar-22 31-Mar-21 £ £ - - - |
| - | - - - |
||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Independent Examiners Fees |
Unrestricted Fund £ 700 |
Restricted Fund £ |
Total Total 31-Mar-22 31-Mar-21 £ £ - 700 650 |
| 700 | - 700 650 |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this initial financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Mar-22 31-Mar-21 £ £ £ £ 4,986 - 4,986 6,648 23,832 29,332 53,164 69,889 - - - - 28,818 29,332 58,150 76,537 |
|---|---|
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SWALE FOODBANK
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
12. STAFF COSTS AND NUMBERS
| TOTAL 2021/22 £ Gross Wages and Salaries 21,865 Employer's National Insurance Costs 1,472 Pension Contributions 1,747 11,332 Employees who were engaged in each of the following activities: TOTAL 2021/22 Activities in furtherance of organisation's objects 1 |
TOTAL 2020/21 £ 11,059 - 273 11,332 TOTAL 2020/21 1 |
|---|---|
The Charity operates a PAYE scheme to pay all members of employed staff and no employees received emoluments in excess of £60,000 (2020/21:None).
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
17. INTRODUCTION OF FIXED ASSETS
The introduction of fixed assets represents the Motor Vehicles held at cost value by the Charity prior to registration with the Charity Commission and the formation of Swale Foodbank CIO.
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SWALE FOODBANK
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Swale Foodbank on the accounts for the year ended 31st March 2022 set out on pages 5 to 13.
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 year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 31st January 2023
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