Charity registration number: 1194404
NEWCASTLE STAFFS FOODBANK
FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2023
NEWCASTLE STAFFS FOODBANK
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
NEWCASTLE STAFFS FOODBANK
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023
| Trustees: | Rev J J Beswick-Pallister (Chair) | Rev J J Beswick-Pallister (Chair) |
|---|---|---|
| M Heap | - resigned 16 November 2022 | |
| S M Heap | - resigned 16 November 2022 | |
| A S Jones | ||
| H J Machin | ||
| P J Radford | ||
| J M Rowley | - resigned 16 November 2022 | |
| P A Roberts | - appointed 16 November 2022 | |
| Treasurer: | M Heap | - resigned 16 November 2022 |
| P A Roberts | - appointed 16 November 2022 | |
| Charity Number: | 1194404 | |
| Charity Address: | Aspire Housing Depot | |
| Brick Kiln Lane | ||
| Parkhouse Industrial Estate West | ||
| Newcastle | ||
| ST5 7AS | ||
| Bankers: | HSBC UK plc | |
| 1 Centenary Square | ||
| Birmingham | ||
| B1 1HQ | ||
| Co-operative Bank plc | ||
| PO Box 250 | ||
| Skelmersdale | ||
| WN8 6WT | ||
| Independent Examiner: | Lifestyles Accountancy Limited | |
| Chartered Accountants | ||
| 39 Kirklees Road | ||
| Southport | ||
| PR8 4RB |
Page 1 of 12
NEWCASTLE STAFFS FOODBANK
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
The trustees submit their annual report and financial statements for the year ended 31 August 2023. The financial statements follow the requirements of the revised Charities Statement of Recommended Practice (FRS 102) (second edition - October 2019) – 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a charitable incorporated organisation, registered on 10 May 2021 having transferred the activity and funds from the previously registered charitable trust, under the same name, with charity number 1150816. It is governed by its association rules registered on 10 May 2021 as amended on 6 March 2023.
Recruitment and appointment of the trustees
The board seeks to achieve a balance of skills and experience amongst the trustees. In order to maintain this, the board reviews its skill and experience mix each year and seeks to recruit new trustees as and when necessary.
Appointment is made once an application for becoming a trustee is received by the charity and the board of current trustees have interviewed the candidate and voted. Usually the board is unanimous in its decision but if that were not the case then a majority vote would prevail.
Trustee induction and training
The current board of trustees provide any new trustee with an overview of the timetable of board meetings, copies of the recent minutes of meetings, the recent reports and accounts and explains their general and specific responsibilities.
Ongoing training is provided by the board of trustees as and when the need arises.
Risk management
The trustees are aware of the major risks to which the charity is exposed to and have plans in place to mitigate these as far as possible. A full risk review is usually undertaken annually by the trustees to ensure that all known and potential risks are mitigated as effectively as possible.
Organisational structure
Newcastle Staffs Foodbank is governed by its board of trustees that are responsible for the strategic direction and policy of the charity. The trustees also review performance on a monthly basis and discuss implementation of policy as and when required.
The day to day responsibility for the provision of the services rests with the regular volunteers. The trustees are however responsible for ensuring that the charity delivers the services specified and that key performance indicators as set by the trustees are met.
Page 2 of 12
NEWCASTLE STAFFS FOODBANK
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
OBJECTIVES AND ACTIVITIES
Objects of the charity
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
The objects of the charity are the prevention or relief of poverty in the borough of Newcastle-UnderLyme and surrounding areas in particular but not exclusively by providing emergency food supplies to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.
ACHIEVEMENTS AND PERFORMANCE
Review and summary of the year
Throughout the year the charity has continued to provide regular provision of food supplies to those in need through the generous time donated by volunteers. The trustees are very grateful to these volunteers and wishes to express their heartfelt gratitude to them.
FINANCIAL REVIEW
Review and summary of the year
The charity had net outgoing resources of £36,170 (2022 - £61,012 - net incoming resources) for the year. This has arisen generally due to the using of restricted grant monies that were received last year.
Principal funding sources
The principal funding sources of the charity continue to be received from the very generous donors and grant funders that the charity is so very thankful to.
Reserves policy
In order to maintain the day to day running of the charity the trustees have agreed that an amount of no less than 3 months running costs should be available in reserves at any one point in time. This amounts to an amount of around £30,000.
In the year to 31 August 2023 the amount available in free reserves was £153,340 (2022 - £145,665). The trustees are continuing to expand on the valuable work that they undertake to help more and more in need which will continue to use the resources available to them.
Page 3 of 12
NEWCASTLE STAFFS FOODBANK
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
PLANS FOR FUTURE PERIODS
General plans
The charity will continue its current programme throughout the year and aims to attract more support both financially and voluntarily in providing emergency food supplies to individuals in need.
Plans in response to risk review
The trustees continually monitor risk and implement policy as and when necessary to mitigate that risk as far as possible. Currently COVID-19 measures to reduce the spread of the virus have been implemented.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
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a. select suitable accounting policies and apply them consistently;
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b. make judgements and estimates that are reasonable and prudent;
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c. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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d. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of trustees on 28 June 2024 and signed on its behalf by:
………………………………
Rev J J Beswick-Pallister - trustee
Page 4 of 12
NEWCASTLE STAFFS FOODBANK
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEWCASTLE STAFFS FOODBANK
FOR THE YEAR ENDED 31 AUGUST 2023
We report on the financial statements of the charity for the year ended 31 August 2023, which are set out on pages 6 to 12.
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 our responsibility to:
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(i) examine the accounts under section 145 of the Charities Act,
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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(iii) to state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our 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 our examination, no matter has come to our attention:
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a) which gives us reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- b) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Daniel Styles (Independent examiner)
Dated: 28 June 2024
for and on behalf of Lifestyles Accountancy Limited
Page 5 of 12
NEWCASTLE STAFFS FOODBANK
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 Notes £ £ £ INCOMING RESOURCES Incoming resources from generated funds: Voluntary income: Donations and gifts 2 46,200 - 46,200 Grants received 3 - 27,212 27,212 Investment income 4 200 - 200 Value of donated food received 186,359 - 186,359 TOTAL INCOMING RESOURCES 232,759 27,212 259,971 RESOURCES EXPENDED Charitable activities 5 40,000 71,057 111,057 Value of donated food used 184,984 - 184,984 Governance costs 6 100 - 100 TOTAL RESOURCES EXPENDED 225,084 71,057 296,141 7,675 (43,845) (36,170) Fund balances at 1 September 2022 145,665 61,429 207,094 Fund balances at 31 August 2023 153,340 17,584 170,924 NET (OUTGOING) / INCOMING RESOURCES FOR THE YEAR |
Total funds 2022 £ 34,632 79,317 4 111,904 225,857 50,485 114,260 100 164,845 61,012 146,082 207,094 |
|---|---|
The notes on pages 8 to 12 form part of these financial statements.
Page 6 of 12
NEWCASTLE STAFFS FOODBANK
BALANCE SHEET
AS AT 31 AUGUST 2023
| Notes CURRENT ASSETS Cash at bank and in hand Debtors Stocks CURRENT LIABILITIES Accruals PAYE Other creditors NET CURRENT ASSETS FUNDS Restricted funds Unrestricted funds TOTAL FUNDS Approved and signed on behalf of the board on 28 June 2024 by: 7 |
Total funds 2023 £ 153,358 - 18,743 172,101 100 914 163 1,177 170,924 17,584 153,340 170,924 |
Total funds 2022 £ 189,872 - 17,368 207,240 100 46 - 146 207,094 61,429 145,665 207,094 |
|---|---|---|
………………………………
Rev J J Beswick-Pallister - trustee
The notes on pages 8 to 12 form part of these financial statements.
Page 7 of 12
NEWCASTLE STAFFS FOODBANK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 ACCOUNTING POLICIES
a Basis of preparation
The financial statements have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council and comply with the Statement of Recommendation Practice, “Accounting and Reporting by Charities”, effective from 1 January 2019.
b Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements where relevant.
c Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. No amounts are included in the financial statements for services donated by volunteers.
Food and other goods dontated to the charity for distribution to those in need are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £1.75 per kilogram, increasing to £2.37 per kilogram with effect from 8 September 2022.
d Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.
Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management costs. Management and administration costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
Food and other goods distributed to those in need are also valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £1.75 per kilogram, increasing to £2.37 per kilogram with effect from 8 September 2022.
Page 8 of 12
NEWCASTLE STAFFS FOODBANK
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
1 ACCOUNTING POLICIES (continued)
e Fixed assets and depreciation
- Tangible fixed assets costing more than £500 are capitalised and included at cost including and incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Furniture and equipment - 20% reducing balance
f Stocks
- Food and other goods that have been dontated to the charity for distribution but held in storage as at the year end date are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £1.75 per kilogram, increasing to £2.37 per kilogram with effect from 8 September 2022.
2 VOLUNTARY INCOME
| Donations and gifts: General donations Gift aid collected |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 42,470 - 42,470 3,730 - 3,730 46,200 - 46,200 |
Total funds 2022 £ 34,632 - 34,632 |
|---|---|---|
3 GRANTS RECEIVED
| Grants received | Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ - 27,212 27,212 - 27,212 27,212 |
Total funds 2022 £ 79,317 79,317 |
|---|---|---|
Page 9 of 12
NEWCASTLE STAFFS FOODBANK
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
4 INVESTMENT INCOME
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ Bank interest 200 - 200 200 - 200 5 COSTS OF CHARITABLE ACTIVITIES |
Total funds 2022 £ 4 4 |
|---|---|
| Staff salaries Staff pension costs Staff training Food and personal hygiene costs Citizen Advice Bureau Christmas care boxes Warehouse rents Computer costs Telephone and internet costs Furniture and equipment Advertising and promotion Postage and stationery Electricity, gas and water costs Legal and professional fees Insurance Bank charges Travel costs Sundry costs |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 27,007 13,481 40,488 196 - 196 96 - 96 1,625 17,948 19,573 - 35,625 35,625 1,075 - 1,075 5,172 142 5,314 500 - 500 - 1,485 1,485 - - - - - - 260 - 260 2,699 - 2,699 216 2,376 2,592 894 - 894 24 - 24 138 - 138 98 - 98 40,000 71,057 111,057 |
Total funds 2022 £ 24,712 - - 5,526 - 1,629 5,073 1,249 1,173 3,110 216 498 836 4,325 876 91 299 872 50,485 |
|---|---|---|
Page 10 of 12
NEWCASTLE STAFFS FOODBANK
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
6 GOVERNANCE COSTS
| Independent examination 7 ANALYSIS OF FUNDS Unrestricted funds: Restricted funds: B & M covid Coldfields Trust Co-op Community Fund Croner Law Holy Trinity Catholic Church Keele University Neighbourly Ltd The Community Foundation Trussell Trust Trussell Trust Tesco Top-up Trussell Trust Financial Inclusion Trussell Trust Winter Support Western Power Hunger Fund Total funds: |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 100 - 100 100 - 100 Balance at Incoming Outgoing 1 Sep 22 Resources Resources 131,543 232,759 225,084 12 - 12 1,351 - 1,351 251 - 251 5,166 - 2,376 1,915 - 1,915 2,100 2,100 3,554 16 - - - 5,000 4,648 1,997 7,995 6,661 1,439 7,117 8,419 45,000 - 35,625 - 5,000 4,063 2,182 - 2,182 61,429 27,212 71,057 192,972 259,971 296,141 |
Total funds 2022 £ 100 100 Balance at 31 Aug 23 139,218 - - - 2,790 - 646 16 352 3,331 137 9,375 937 - 17,584 156,802 |
|---|---|---|
All restricted funds are to be used for the purpose of furthering the charity objectives and are given to fund food costs, salaries and other sundry items as stated on receipt of the grants.
Page 11 of 12
NEWCASTLE STAFFS FOODBANK
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
8 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Current assets Current liabilities |
Unrestricted Restricted funds funds £ £ 154,517 17,584 (1,177) - 153,340 17,584 |
Total funds £ 172,101 (1,177) 170,924 |
|---|---|---|
9 TRUSTEES REMUNERATION
No trustee received any remuneration or re-imbursement of expenses during the year.
Page 12 of 12