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2024-03-31-accounts

ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

SWALE FOODBANK

(Charitable Incorporated Organisation)

CHARITY REGISTRATION No: 1190373

Castle View Accounting Ltd Ground Floor Offices

53 High Street Arundel West Sussex BN18 9AJ

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

2

SWALE FOODBANK

(Charitable Incorporated Organisation)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1190373 DATE OF REGISTRATION 13th July 2020 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 TRUSTEES AT 31ST MARCH 2024 Peter Le Beau MBE Peter Judd Gary Hearn Jill Petts (Appointed 1st February 2024) Ian Hudson (Appointed 1st February 2024) Catherine Haynes (Appointed 1st February 2024) Philip Norris (Appointed 25th April 2024) 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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

3

SWALE FOODBANK TRUSTEES. REPOIIT FOR TrE YEAR ENDED 31ST MARCH 1024 QElkU.

SWALE FOODBANK

(Charitable Incorporated Organisation)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Donations, Grants & Legacies
3a
Other Incoming Resources
3b
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
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/24
2022/23
£
£
£
£
34,896
172,730
207,626
134,019
1,059
-
1,059
862
35,955
172,730
208,685
134,881
61,228
103,968
165,196
98,574
3,135
-
3,135
1,575
64,363
103,968
168,331
100,149
(28,408)
68,762
40,354
34,732
35,307
57,575
92,882
58,150
6,899
126,337
133,236
92,882

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.

5

SWALE FOOOBANK ALAMCE SMEET AS AT 31ST MARCH 2tr U70 121J37 t226 12¢337 89.143 or J*ar 126J37 ¥>))7 57 12F33? Totsl Fund• 126JJ7 1332 LC

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.

7

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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

8

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

2. TANGIBLE FIXED ASSETS

Cost
01-Apr-23
Additions
Net Book Value at
31-Mar-24
Depreciation
01-Apr-23
Charge
Depreciation at
31-Mar-24
Net Book Value
31-Mar-24
Net Book Value
31-Mar-23		 Fixtures &
Peugeot
Renault
Total
Fittings
Van
Van
2023/24
£
£
£
£
-
1,000
7,864
8,864
-
-
-
-
-
1,000
7,864
8,864
-
579
4,547
5,125
-
105
664
769
-
684
5,210
5,894
-
317
2,654
2,970
-
422
3,318
3,739

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2024: None

31st March 2023: None

9

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

3. INCOMING RESOURCES

a) Donations, Grants & Legacies
Gifts & Donations
Grants Received
b) Other Incoming Resources
Sundry Income
4. RESOURCES EXPENDED
a) Cost of Charitable Activities
Catering Costs
Advertising & Publicity
Depreciation Expense
Equipment Costs
Food Costs
Insurance Costs
Motor Vehicle Expenses
Office Costs
Recycling Costs
Rent & Rates
Repairs & Maintenance
Staff Costs
Sundry Expenses
Telephone Costs
Travel & Subsistence
Utility Costs
`
b) Governance Costs
Independent Examiners Fees
9
Legal & Professional Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/24
2022/23
£
£
£
£
34,896
13,232
48,128
66,366
-
159,498
159,498
67,653
34,896
172,730
207,626
134,019
1,059
-
1,059
862
1,059
-
1,059
862
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/24
2022/23
£
£
£
£
1,250
-
1,250
103
500
-
500
108
769
-
769
1,247
9,703
-
9,703
5,849
-
34,364
34,364
9,425
1,600
-
1,600
1,729
4,303
-
4,303
437
1,585
-
1,585
204
604
-
604
681
33,452
-
33,452
15,137
4,017
-
4,017
684
608
69,429
70,037
55,962
712
175
887
1,064
1,012
-
1,012
200
1,113
-
1,113
214
-
-
-
5,530
61,228
103,968
165,196
98,574
960
-
960
800
2,175
-
2,175
775
3,135
-
3,135
1,575

10

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Holiday Club Fund
Strategic Resources Fund
Housing Support Fund
OLM Grant
Local Members Fund
Emergency Grant from Trussell Trust
Financial Inclusion Grant from Trussell Trust		 Balance
Balance
01-Apr-23
Income
Expenditure
Transfers
31-Mar-24
£
£
£
£
£
9,238
-
5,926
-
3,312
3,082
19,639
18,621
-
4,100
28,880
56,000
34,539
-
50,341
16,375
30,225
31,294
-
15,306
-
-
-
-
-
-
15,116
13,588
-
1,528
-
51,750
-
-
51,750
57,575
172,730
103,968
-
126,337

PREVIOUS FINANCIAL YEAR

Holiday Club Fund
Strategic Resources Fund
Housing Support Fund
OLM Grant
Local Members Fund		 Balance
Balance
01-Apr-22
Income
Expenditure
Transfers
31-Mar-23
£
£
£
£
£
9,238
-
-
-
9,238
20,094
-
16,558
(454)
3,082
-
36,500
7,620
-
28,880
-
29,526
13,151
-
16,375
-
1,627
1,627
-
-
29,332
67,653
38,956
(454)
57,575

The restricted funds held are wholly represented by the CIO's cash reserves and are to be expended as specified above.

11

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

6. INVESTMENTS

The CIO held no fixed assets investments during this or the previous financial year.

7. CASH AT BANK AND IN HAND

Cash at Bank & in Hand
8. DEBTORS AND PREPAYMENTS
Sundry Debtors		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-24
31-Mar-23
£
£
£
£
4,889
126,337
131,226
89,943
4,889
126,337
131,226
89,943
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-24
31-Mar-23
£
£
£
£
-
-
-
-
-
-
-
-

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Independent Examiners Fees Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-24
31-Mar-23
£
£
£
£
960
-
960
800
960
-
960
800

10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The CIO held no long term liabilities during this or the previous financial year.

11. NET ASSETS BETWEEN FUNDS

Fixed Asset Investments
Net Current Assets
Long Term Liabilities		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
2,970
-
2,970
3,739
3,929
126,337
130,266
89,143
-
-
-
-
6,899
126,337
133,236
92,882

12

SWALE FOODBANK

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

12. STAFF COSTS AND NUMBERS

TOTAL
2023/24
£
Gross Wages and Salaries
60,636
Employer's National Insurance Costs
4,156
Pension Contributions
5,245
70,037
Employees who were engaged in each of the following activities:
TOTAL
2023/24
Activities in furtherance of organisation's objects
5		 TOTAL
2022/23
£
49,034
3,210
3,718
55,962
TOTAL
2022/23
5

The Charity operates a PAYE scheme to pay all members of employed staff and no employees received emoluments in excess of £60,000 (2022/23: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.

13

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 2024 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:

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:

  1. which gives me reasonable cause to believe that in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. 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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

Date: 31st January 2025

14