OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-06-30-accounts

Registered Charity Number :- 1194336

IDIA'S COMMUNITY KITCHEN a Charitable Incorporated Organisation

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR END 30 June 2024

9 MANDEVILLE STREET

LONDON

IDIA'S COMMUNITY KITCHEN

FOR THE YEAR ENDED 30 June 2024

CONTENTS

TRUSTEES' REPORT ........................................................................................................ 3 STATEMENT OF FINANCIAL ACTIVITIES ........................................................................... 5 BALANCE SHEET ............................................................................................................. 6 NOTES TO THE FINANCIAL STATEMENTS ........................................................................ 8

2

IDIA'S COMMUNITY KITCHEN

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 June 2024

Introduction

The Trustees of Idia's Community Kitchen are pleased to present this Annual Report for the year ending 30th June 2024, highlighting our efforts to address food insecurity and strengthen community ties.

Governance

Idia's Community Kitchen, established in 2021, is governed by a Board of Trustees responsible for strategic direction and compliance. The Board currently includes:

Julio Jose Gallego Diaz

Aina Bosede Ewalohiwa Omo-Bare

Rosa Carmina Recinos Maldonado

Omotayo Paul Agbaje

Objectives and Activities

The objects of the CIO are the relief of financial hardship amongst people in Hackney and the surrounding area or in other parts of the United Kingdom in such ways as the trustees from time to time think fit, in particular, but not exclusively by:

a) providing hot meals, emergency food, essential toiletries, and household items to individuals and families in need and/or for 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.

Achievements

This year, we achieved:

1) Distribution of over 400 meals weekly - 50% with children, 30% pensioners, 15% homeless and 5% disabled

2) Secured £ 31,088.58 in grants and donations

3) Positive feedback from beneficiaries

3

IDIA'S COMMUNITY KITCHEN

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 June 2024

Financial Overview

For the year ended 30th June 2024, we reported total income of £ 64,909.72 and expenditures of £ 49,476.25:

Income Sources : Grants and funding: £ 40,528.09 , Donations: £ 10,786.53, Charitable activities: £ 1,480.10, Other trading activities: £ 10,383.70.

Expenditures : Raising funds: £ 15,385.98 , Charitable activities: £ 32,325.93.

Future Plans

Next year, we aim to:

Acknowledgments

We thank our volunteers, donors, and staff for their vital contributions to our mission.

Conclusion

Idia's Community Kitchen remains committed to combating food insecurity and fostering community connections. We look forward to continuing our impactful work in the upcoming year.

On behalf of the Trustees,

Julio Jose Gallego Diaz

Chair

Date: 03/04/2025

4

IDIA'S COMMUNITY KITCHEN

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 June 2024

Recommended
categories by
activity
Notes
Income and
endowments
from:
Donations and
legacies
2
Charitable activities
3
Other trading
activities
4
Investments
5
Total
Expenditure on:
Raising funds
7
Charitable activities
8
Other
10
Total
Net
income/(expendit
ure)
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Total funds
carried forward		 Unrestricte
d funds
£
Restricted
income
funds
£
Total Funds
2024
£
Total Funds
2022
£
22,486.21
30,528.09
53,014.30
20,764.51
1,480.10
-
1,480.10
-
10,383.70
-
10,383.70
-
31.62
-
31.62
-
34,381.63
30,528.09
64,909.72
20,764.51
15,385.98
-
15,385.98
3,305.10
21,337.33
10,988.60
32,325.93
6,244.16
65.00
1,699.34
1,764.34
-
36,788.31
12,687.94
49,476.25
9,549.26
(2,406.68)
17,840.15
15,433.47
11,215.25
(2,406.68)
17,840.15
15,433.47
11,215.25
7,313.15
4,550.00
11,863.15
647.90
4,906.47
22,390.15
27,296.62
11,863.15

5

IDIA'S COMMUNITY KITCHEN

BALANCE SHEET

FOR THE YEAR ENDED 30 June 2024

Recommended
categories by
activity
Notes
Fixed assets
Tangible assets
11
Total fixed assets
Current assets
Cash at bank and in
hand
12
Total current
assets
Creditors: amounts
falling due within
one year
13
Net current
assets/(liabilities)
Total net assets
or liabilities
Funds of the
Charity
Unrestricted funds
14
Restricted income
funds
14
Endowment funds
14
Total funds		 Unrestricte
d funds
£
Restricted
income
funds
£
Total Funds
2024
£
Total Funds
2022
£
1,235.00
7,266.21
8,501.21
-
1,235.00
7,266.21
8,501.21
-
4,496.47
15,123.94
19,620.41
14,161.75
4,496.47
15,123.94
19,620.41
14,161.75
825.00
-
825.00
2,298.60
3,671.47
15,123.94
18,795.41
11,863.15
4,906.47
22,390.15
27,296.62
11,863.15
4,906.47
4,906.47
7,313.15
22,390.15
22,390.15
4,550.00
-
-
4,906.47
22,390.15
27,296.62
11,863.15

The financial statements were approved by the Board on 09-Apr-2025 and signed on its behalf by:

Omotayo Agbaje Trustee

6

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

1 Accounting Policies

1.1 Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.2 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts have been prepared in accordance with “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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

1.3 Going concern

The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.

2 Income from Donations and Legacies

Analysis

Donated Goods,
facilities and services
Donation and gifts
General grants
provided by
Government/other
charities
Other		 Unrestricte
d funds
£
722.35
10,786.53
10,000.00
977.33
22,486.21		 Restricted
income
funds

£
-
-
30,528.09
-
30,528.09		 Total funds
2024

£
722.35
10,786.53
40,528.09
977.33
53,014.30		 Total funds
2022
£
-
12,718.50
8,046.01
-
20,764.51

7

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

3 Income from Charitable Activities

Analysis
Sale of Good		 Unrestricted
funds
£
1,480.10
1,480.10		 Total funds
2024
£
1,480.10
1,480.10		 Total funds
2022
£
-
-

4 Income from Other Trading Activities

Analysis
Events		 Unrestricted
funds
£
10,383.70
10,383.70		 Total funds
2024
£
10,383.70
10,383.70		 Total funds
2022
£
-
-

5 Income from Investments

Analysis
Interest income		 Unrestricted
funds
£
31.62
31.62		 Total funds
2024
£
31.62
31.62		 Total funds
2022
£
-
-

6 Analysis of Receipts of Government Grants

Government grant 1
Other		 Description
This
year
£		 Description
This
year
£
Hackney Council 15,010.
60
Co-operative Bank, Sucden
Financial, London
Community and Barbican
Giving		 15,517.
49
Total 30,528.
09

8

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

7 Expenditure on Raising Funds

Analysis
Staging fundraising events
Advertising, marketing, direct mail and publicity
Rent collection, property repairs and maintenance charges		 Total
funds
2024
£
348.76
1,031.91
14,005.31
15,385.98		 Total
funds
2022
£
-
-
3,305.10
3,305.10

8 Expenditure on Charitable Activities

Analysis
Bank charges
Charity management & administration
Cost of services
Employee costs
Donations
Printing and stationery
Legal/professional fees
Support Costs
upport Costs
Analysis
Governance Costs
Accountants fees		 Total
funds
2024
£
95.30
11,834.83
9,267.41
8,295.98
-
209.41
1,798.00
825.00		 Total
funds
2022
£
101.15
5,374.95
-
-
318.06
-
-
450.00
32,325.93 6,244.16
Total
funds
2024
£
825.00
825.00		 Total
funds
2022
£
450.00
450.00

9 Support Costs

9

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

10 Other Expenditure

Analysis

Depreciation Charge
for the Year -
Commercial Vehicles
Depreciation Charge
for the Year - Fixtures
& Fittings		 Unrestricte
d funds
£
-
65.00
65.00		 Restricted
income
funds

£
1,652.78
46.56
1,699.34		 Total funds
2024

£
1,652.78
111.56
1,764.34		 Total funds
2022
£
-
-
-

10

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

11 Tangible Fixed Assets

11.1 Cost or valuation

11.1 Cost or valuation
Commercial Vehicles Fixtures & Fittings
£ £
At 01 January 2023 - -
Additions 8,500.00 1,765.55
Disposals - -
Revaluations - -
Transfers - -
At 30 June 2024 8,500.00 1,765.55
11.2 Amortisation and impairments
Commercial Vehicles Fixtures & Fittings
£ £
At 01 January 2023 - -
Additions 1,652.78 111.56
Disposals - -
Revaluations - -
Transfers - -
At 30 June 2024 1,652.78 111.56
11.3 Net book value
Commercial Vehicles Fixtures & Fittings
£ £
At 01 January 2023 - -
At 30 June 2024 6,847.22 1,653.99

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Commercial Vehicles - 15% Straight line Fixture & Fittings - 15% Straight line

11

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

12 Cash at bank and in hand

Cash at bank and in hand
Cash at bank and on hand Total
funds
2024
£
19,620.41
19,620.41		 Total
funds
2022
£
14,161.75
14,161.75

13 Creditors : Amounts falling due within one year

Other creditors Total
funds
2024
£
825.00
825.00		 Total
funds
2022
£
2,298.60
2,298.60

12

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

14 Charity funds 14.1 Details of material funds held and movements during the CURRENT reporting period

Fund
names		 Fund
balances
brought
forward		 Income Expendit
ure		 Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestrict
ed funds
7,313.15 34,381.63 (36,788.3
1)		 - - 4,906.47
Restricte
d income
funds
4,550.00 30,528.09 (12,687.9
4)		 - - 22,390.15
Total 11,863.15 64,909.72 (49,476.2
5)		 - - 27,296.62
14.2 Details of material funds held and movements during the PREVIOUS
reporting period
Fund
names		 Fund
balances
brought
forward		 Income Expendit
ure		 Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestrict
ed funds
647.90 12,718.50 (6,053.25) - - 7,313.15
Restricte
d income
funds
- 8,046.01 (3,496.01) - - 4,550.00
Total 647.90 20,764.51 (9,549.26) - - 11,863.15
14.3 Transfers between funds

13

IDIA'S COMMUNITY KITCHEN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2024

This Year

Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -
Last Year
Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -

14