Callington Foodbank Financial Report – 1[st] June 2020 to 1[st] June 2021.
The purpose of this report is to provide details of the Callington Foodbank Accounts to the Trustees, Volunteers, and other stakeholders. The accounts have been prepared on the receipts and payments method as set out in the Charity Commission’s web site. The accounts will be made available to the Charity Commission should they request a copy.
The objective of the report is to demonstrate that the resources have been managed and monitored in accordance with the Charity Commission rules and satisfy the Trussell Trust procedures.
The expenditure forecast in last year’s accounts was £16,200 and expenditure incurred during the year nine of operation was £6,615.74. A paid Co-ordinator, Alex Polglase started work with the Foodbank in Jan 2021 and expenditure has not been as high as expected as Peter Whitting continued to manage the distribution of food parcels up to Jan 2021. New electric heaters were fitted in the Foodbank Building during the year. Donations from the public and local companies were up 25% on last year. A total income of £20,241.42 was received in donations from Churches, individuals and the cash top-ups from Tesco. A grant of £4,700 was received from Asda via the Trussell Trust towards providing funds to employ a paid co-ordinator to assist the Trustees in the running of the Foodbank. The balance in the bank account on 1[st] June 2021 was £36,067.53 and £220.00 was held as petty cash. Details of income and expenditure are shown in Table 1.
I have included Table 2 below to show the value of “gifts in kind” of food donations, the use of Mustard Seed premises and volunteer time received during the year. The total approximate value of the gifts was £40,746.40.
The Callington Foodbank pays the majority of donations/monies into a current account held with the Co-operative Bank.
The cost of running the Foodbank for the next year is likely to be approximately £15,200. Incorporated Charitable status was achieved on the 10[th] Nov 2020 to enable the Foodbank to take on paid employees. A ‘gift aid’ scheme is now in place and we want to thank all those that have set up direct debits.
We are very grateful to all who have given generous donations of time and money to the work of the Callington Foodbank.
Table 1 - Income and Expenditure
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Income Expenditure
2020/2021 2020/2021
Balance carried 22,441.85
forward
Operating costs 327.16
Church and 20,241.42 Insurance 380.34
individual and
other Donations
Co-ordinator Pay (5 3,813.35
months)
Electricity 665.00
Trussell Trust Fee 360.00
Heaters 1,069.89
Total 42,683.27 Total 6,615.74
Excess of Receipts 36,067.53
over Payments
Represented by:
Total Reserves 36,287.53 Balance at Bank 36,067.53
Petty Cash held 220.00
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Table 2 - Approximate value of ”gifts in kind”
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Item Quantity Unit Approximate
value value
Food 9680kg £1.73 £16,746.40
donatio
ns
Storage 12 months £400 £4,800
premise
s
Volunte 40 hours per £ £19,200
er time week 10.00 (x
48
weeks)
Total £40,746.40
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Tom White