## **BRIDPORT FOOD BANK** ## **ANNUAL REVIEW** ## **31 December 2022** ## Registered Charity No. 1195120 The Bridport Food Bank, previously trading as ‘Cupboard Love’ is a Charitable Incorporated Organisation (CIO) ## Website: https://www.bridportfoodbank.org/ Phone: 07443 596096 ## **Our charitable objects** The objects of the Food Bank are the prevention and relief of poverty in Bridport and the surrounding area, for the public benefit, primarily through the provision of food, hygiene and household products, but also related, additional services, assistance and support for those in need. P a g e **1** |Contents:||| |---|---|---| ||Page|| |List of Trustees……………………………..||2| |Chair of Trustees’ Report ……..……….||3| |Treasurer’s Report ………………………..||4| |Summary of Accounts ………………………||5| |Further informaton||8| |Food bank correspondence address:||| |The Old Bakery, Main Street, Chideock, DT6 6JQ||| ## Food Bank Trustees: There are three classes of trustee, all have the same rights, powers and responsibilities: an ex-officio member, up to 4 trustees nominated by the Parochial Church Council (PCC) of the parish of Bridport and up to 4 appointed trustees. |Name|Positon|Date appointed|Term| |---|---|---|---| |Canon Deb Smith|Chair (ex-ofcio)|7 April 2021|As rector| |Marie Ansell|appointed trustee|17 May 2023|3 years| |Ian Bark|appointed trustee|17 May 2023|3 years| |Diane Benjamin|appointed (Treasurer) 7 April 2021||3 years| |Madeleine Sturrock nominated trustee 16 April 2023|||3 years| |Peter Wright|nominated trustee|16 April 2023|3 years| |Debra Bates|appointed trustee|12 May 2022|3 years| If you would like to become a Trustee, please contact the Chair of Trustees Rev - - Canon Deb Smith, on 01308 301457 or email: deb@bridport team ministry.org If you would like to volunteer please call the Foodbank Co-ordinators carrie or Sonia on 07443 596096 P a g e **2** ## **Chair of Trustees Report** On behalf of the Board of Trustees, I would like to warmly welcome you to our Annual Review for 2022. This is the first time we have produced such a report following our establishment as an independent charity with a board of trustees in 2021. The Bridport Food Bank (formerly known as Cupboard Love) has been running for nearly 10 years, serving Bridport and the surrounding villages. It takes a lead in tackling food poverty and its consequences, providing a safe space for people to come and receive food without judgement or discrimination. Previously we were run through St Mary’s, Bridport (we continue to run our main session in the church building) and have always enjoyed huge support from the town community with an exceptional team of volunteers under the capable leadership of our co-ordinator Carrie Gamble. Our first year as an independent charity has been one of great challenge and change. Coming hard on the heels of the pandemic we’re faced with the cost-of-living crisis and see its impact in the mounting numbers accessing services. To address the rising need faced by some in our community the Bridport Food Bank is planning to put in place significant, extra steps to meet the needs of the people we serve. For instance, this year we have employed a second paid worker, Sonia Maynard. As well as working in the regular Wednesday session at St Mary’s Church, Sonia was researching and getting ready to set up a second session to run in the evenings in a separate venue (now running in 2023). We also began work on establishing a hardship fund in conjunction with Bridport Town Council and Citizens’ Advice. This would enable us to respond to emergency short-term needs of people facing hardship, with the hope this may equip people become more financially resilient and access further support. I am grateful to all those who support the work of the Food Bank, for the generosity of the supermarkets and independent shops and businesses who enable us to operate; the goodwill and support we have in the town, and for the commitment of so many voluntary groups and statutory bodies whose support makes this work possible. Also to our staff, to all volunteers, supporters and donors who enable the work we do. I’m also encouraged by the people with lived experience of hardship being willing to influence our work. By sharing their own story to raise awareness, their contribution is invaluable to our work and vision. I thank the board of trustees, some of whom are also food bank volunteers, for their hard work, and in stepping up to the new challenges we face. Their time and talents are freely given, and critically important. We are stronger and more diverse as an independent charity. This though remains an ongoing journey and we hope to welcome new trustees to get involved in the coming year. We know it’s not right that anyone should need a food bank and we look forward to the day when the need for the distribution of emergency food ends. In the meantime, we will continue to offer help to everyone who is facing hardship with compassion and dignity while working towards a more just society where everyone can afford the essentials. Canon Deb Smith Chair of Trustees P a g e **3** ## **Treasurer’s Report** Our first priority over this first year of operation is to ensure that the purpose and the delivery of the foodbank have remained as they always were, to our users. For the trustees it has also been one of concentration on establishing our financial viability and the robustness of our working practices, independent of the Bridport Anglican parish. Independent Charity status means that we now pay rent for the church and other premises we use as storage facilities and are responsible for our staff and the recruitment and training of our team of volunteers. We have our own bank account and a responsibility to the Charity Commission and our supporters to account for how our funds are used, wisely and well. I would like to thank sincerely our donors who give regularly by standing order, not only for their generosity but also for their faithfulness as they are the bedrock of our operation. There are also many individuals who give when they can, as well as local groups who remember the Foodbank only operates on the generosity of others and donate their fundraising contributions, large or small to us. Thank you to you all. We could not manage without the support of our local Supermarkets and traders, especially Washingpool Farm, Morrisons, Waitrose and Lidl who provide collection points for members of the public to donate foodstuff, but also have systems for financial donations to be made through their tills, which allow us to request specific goods up to the amount donated in this way. Being in control of our own funds has meant that we have been able to broaden the range of foodstuff we offer each week. Over the year we have established regular supplies of fresh fruit and vegetables, fresh bread and eggs which supplement the standard provision of tinned and dried produce. Baby food and childcare products, with basic toiletries, are also regularly purchased. At the end of our first reporting period, we are now in a position to look forward with confidence to the future based on our regular income, as well as holding some financial reserves. These have accumulated primarily from past operating within the Bridport parish and we plan to use this legacy to offer a wider range of support to those in need over 2023. Diane Benjamin Treasurer P a g e **4** ## **Summary of Accounts to December 2022** ## **INDEPENDENT EXAMINER:** Marcus Cridland B.A.(Hons) F.C.A. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorset DT6 3LB **BANKERS:** NatWest, Bridport, Dorset 60 03 29 / Account: 79195156 The accounts have been prepared in accordance with the accounting policies and comply with the charity's governing document, applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities when preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They refer to the thirteen month period ended 31 December 2022 ## **Financial position** Total incoming resources for the year were £123,573 and net incoming funds were £98,434. Total funds at 31 December 2022 were £98,434 including restricted funds of £29,950 and designated funds of £30,000.00. ## **Reserves Policy** The trustees consider the appropriate level of free reserves they should retain is between 8 to 10 months of the committed expenditure of the charity, which equates to between, £18,000 to £22,000 in general funds. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. **Independent Examiners** have completed their examination and confirm that no material matters have come to their attention in connection with the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. - The accounts do not accord with those records; or 3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008. P a g e **5** ## **BALANCE SHEET AT 31 DECEMBER 2022** |**Current Assets**|**£**|**£ Totals**| |---|---|---| |Debtors|**504**|| |Cash at bank and in hand|**98,729**|| |||**99,233**| |Creditors Amounts falling due|**(799)**|| |within one year||| |**Net Assets**||**98,434**| |**The Funds of the Charity**||| |**Restricted Funds**||| |Dorset Household Fund|**9,950**|| |Hardship Fund|**20,000**|| |||**29,950**| |**Unrestricted Funds**||| |Designated Fund (contingency)|**30,000**|| |General Fund|**38,484**|| |||**68,484**| |**Total Charity Funds**||**98,434**| ## **Total Charity Funds** ## **Fund Accounting Policy** Unrestricted income funds are general funds that are available for use at the Trustee’s discretion in furtherance of the objectives of the charity. Restricted Funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## **Income** Voluntary Income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement. ## **Income from Donations and Legacies** ||**Unrestricted**|**Restricted Funds**
|**Total 2022**| |---|---|---|---| ||**Funds**||| |Planned Giving|26,161|-|26,161| |Donations|67,212|20,000|87,212| |and Legacies|||| ||**93,373**|**20,000**|**113,373**| P a g e **6** ## **Activities for Raising Funds** Fundraising Grants 9,950 9,950 |**Costs of raising Voluntary Income**||| |---|---|---| |Publicity and Fundraising||882| |**Charitable Actvites**||| |Programme (Direct costs)||8,078| |Support Costs||16,179| |||**24,257**| |**Support Costs**||| |Employment costs||8,917| |Volunteer Expenses||1,029| |Office Expenses||101| |Insurance||551| |Premises costs||4,879| |**Governance Costs**||| |Payroll Fees|162|| |Independent Examiner’s Fees
**Total**|540|702
**16,179**| No trustees received any remuneration or expenses during the year. Total Interest income for financial assets not measured at fair value through profit or loss is £250. P a g e **7** Bridport Food Bank BRIDPORT FOOD BANK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Contents Annual report Pages 1-4 Independent Examinerfs Report Page 5 Statement of Financial Activities Page 6 Balance Sheet Page 7 Notes to the Financial Statements Page8-12 Charity Commission Registration number: 1195120 BRIDPORT FOOD BANK CHARITY INFORMATION FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 TRUSTEES: Chair-. Canon Reverend Deborah. Smith, Ex-ofPIcio Trea5urer.' Mrs Diane Benjamin, appointed Mr lan Bark, current Mayor of Bridport Mr5 Marie Ansell Mr Peter Wright, nominated Mrs Madeleine Sturrock, nominated PRINCIPAL OFFICE: St Marfs Church 84 South Street Bridport Dorset DT6 3NW CORRESPONDENCE ADDRESS: The Old Bakery Chideock Dorset DT6 6JQ REGISTERED CHARITY NUMBER: 1195120 INDEPENDENT EXAMINER: Marcus Cridland B.A.IHonsl F.C.A. Scott Vevers Ltd Chartered Accountants and Re8iStered Auditors 65 East Street Bridport Dorset DT6 3LB BANKERS: Natwest Bridport Dorset BRIDPORT FOOD BANK REPORT OF THE TRUSTEES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 The trustees present their report together with the financial statements of the charity forthe year ended 31 December 2022. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's governing document, applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. Whowe are and what we do Our Charitable Objects The objects of the CIO are the prevention andlor relief of poverty in Bridport and the surrounding area of Dorset for the public benefit. primarily through the provision of food, hygiene and household products. but also related additional services. assistance and support for those in need. Our Artivities Nine years ago, under the aegis of the St Mary's Church an or8anization known a 'Cupboard Love, was set up. This was conceived as a short-term solution to an immediate need but has sadly become an ever expanding and ongoing lifeline. Cupboard Love, now Bridport Food Bank, became a full registered charity in July 2021 and became independently operational on l January 2022. Bridport Food Bank provides morethanjust food. We work In partnership with a whole range of local agencies to provide sUPPOrt and advice. These include the Citizen's Advice Bureau, local schools, healthcare, housing, homeless and other voluntary organisations supporting those in crisis in the Bridport area. We operate a referral system for those needing ongoing support as well as an emergency help system. Our primary delivery model offood for 3 meals a day for 3 days a week, including fresh bread, eggs and vegetables is offered from St Mary's Church, Bridport every Wednesday from 10am until Ipm. An extension of this service will be offered from January 2023 based at the BYCC on Mondays from 5-7pm. Forthose who are housebound orwho cannot attend at these times we provide a home delivery service or other pick-up options. We continue to rely on donations of food from individuals and local businesses, and financial donations from many generous local people. BRIDPORT FOOD BANK REPORT OF THE TRUSTEES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 FINANCIAL REVIEW Financial position Total incoming resources for the year were £123,573 and net incoming funds were £98,434. Total funds at 31 December 2022 were £98,434 including restricted funds of £29,950 and designated funds of £30,000. Reserves Policy The trustees consider the appropriate level of free reserves they should retain is between 8 to 10 months of the committed expenditure of the charity, which equates to between £18,000 to £22,000 in general funds. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The charity was registered with the Charity Commission in July 2021. Trustees The board of trustees are made up of up to 9 Trustees of which I will be ex-officio clergy. Up to 3 will be nominated by the Bridport Churches and up to 4 will be taken from the wider Bridport community. The Chair will be elected by the Trustees. There are currently 6 Trustees on the Board who served durin8 the year. They are listed on page l. STATEMENT OF TRU5TEES' RESPONSIBILITIES Thetrustees are required under Chartylawto prepareffinancial 5tatementsfor eath finanaal yearwhich give a true and fair view of the state of affairs of the charity and of the finanaal artivities of the charity forthat period. In preparingthose finanaal statements, thetrustees are required to select suitable accounting policies and then apply them consistentlv; observe the methods and principles in the Charities 50RP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. BRIDPORT FOOD BANK REPORT OFTHE TRUSTEES FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for ensuring that the charity maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against loss or unauthorised use and to prevent and detect fraud and other irregularities. The annual report was approved by the trustees of the charity on on its behalf by: and si8ned Canon Reverend Deborah Smith Chair of Trustees INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF BRIDPORT FOOD BANK I report to the trustees on my examination of the accounts of Bridport Food Bank for the thirteen month period ended 31 December 2022, which are set out on pages 6 to 12. Responsibilitles and basls of report As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe Act). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to rny attention in connection with the examination giving me cause to believe that in any material respect: l. Accounting records were not kept in respect of the Charity as required by section 130 of the Act,. or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the exami nation to which attentlon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. M. Cridland BAIHonsl FCA Scott Vevers Ltd Chartered Accountants & Registered Auditors 65 East Street Bridport, Dorset DT6 3LB Date: Z5...{.0s..l.u. BRIDPORT FOOD BANK STATEMENT OF FINANCIAL AcfiviTIES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Unrestricted Funds Restricted Total Funds Funds 2022 Note Income from: Donations and legacies 93,373 20,000 113,373 Other trading activities Activitie5 for raising funds 9.950 9,950 Investment income 250 250 Total income 93,623 29,950 123,573 Expendlture on: Raising funds Costs of raising voluntary income 882 882 Charitable activities 24.257 24,257 Total expenditure 25,139 25,139 Net income Gross transfers between funds 68,484 29,950 98,434 Net movements in funds Reconciliation of funds Total funds carried forward 68,484 29.950 98,434 68,484 29,950 98,434 All income and expenditure 15 derived from continuing activities. The charity has no recognised gains or losses for the year other than the results above. The notes on pa8es 8 to 12 form an inte8ral part of these financial statements BRIDPORT FOOD BANK BALANCE SHEET AT 31 DECEMBER 2022 Charity number.. 1195120 2022 Note Current assets Debtors Cash at bank and in hand 504 98.729 99,233 Creditor5- Amounts falling due within one year io 17991 Net current assets 98,434 Net assets 98,434 The funds of the charity: Restrlcted funds li 29,950 Unrestricted funds Designated funds General fund li li 30,000 38.484 Total charity funds 98,434 Approved by the Bo rd and signed on its behalf by.. Revd Canon Deborah Smit Chair of Trustees Diane Benja Treasurer Date: The notes on pages 8 to 12 form an integral part of these financial statements BRIDPORT FOOD BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 General information Bridport Food Bank is a charity, established as a Charltable Incorporated Organi5atioTr on 9 J uly 2021. The charity received donations in December 2021 and commenced operating in January 2022. The address of the registered office is provided in reference and administrative detai Is. Details of the charitvs operations are provided in the Report of the Trustees. Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation The charity constitutes a publlc benefit entity as defined by FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The accounts include the results of the charity's operations which are described in the Trustees, Report, all of which are continuing. Fund accounting pollcy Unrestricted income funds are general funds that are available for use at the trustee5' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed in note 11. Income Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, it is more likely than not that the trustees will receive the resources and the amount can be measured with sufficient reliability. Gift5 and services in kind are included at their estimated open market valuation. Deferred income represents amount5 received for future periods and is released to incoming resources in the period for which, it ha5 been received. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. BRIDPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Accounting policies {continuedl Expenditure Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to the expenditure and the amount of the obligation can be measured with reasonable certainty. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of raising funds are the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for it5 benef iciaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all cost5 involving public accountability of the charity and its compliance with regulation and good practice. Debtors Debtors (including trade debtors) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Going Concern The financial statements have been prepared on a 80ing concern basis as the trustee5 believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Income from donations and legacies Unrestricted Funds Restricted Funds Total 2022 Planned giving Donations and legacies 26.161 67,212 93,373 26,161 87,212 113,373 20,000 20,000 Activltles for ralslng funds Unrestricted Funds Restricted Funds Total 2022 Fundraising 9,950 9,950 9,950 9.950 BRIDPORT FOOD BANK NOTES TO THE FINANCIALSTATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Costs of raising voluntary income Unrestricted Funds Restrirted Funds Total 2022 Publicity and fundraising costs 882 882 882 882 Charitable activities Activities undertaken directly Support costs allocated Total 2022 Programme Support costs 8.078 8,078 16.179 16.179 8,078 16,179 24,257 Support costs Total 2022 Employment costs Volunteer expenses Office expenses Insurance Premise costs 8,917 1,029 ioi 551 4,879 Governance costs Payroll fees Independent examiner's fee 162 540 702 16,179 Employees, remuneration No trustees received any remuneration or expenses during the year. The costs of the remaining staff were as follows: 2022 Wages and Salaries 8,744 8,744 No employee earned more than £60,000 during the period. The average full time equivalent number of staff employed by the charity durin8 the year analysed by function was.. 2022 Average full time equivalent number of staff employed The average number of staff employed IHeadcount) 1.08 io BRIDPORT FOOD BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Debtors 2022 Prepayments and accrued income 504 504 10 Creditors: Amounts falling due wlthln one year 2022 Taxation and social securitv Accruals 223 576 799 11 Analysis of funds Incoming resources Resources expended C/Fwd 31.12.22 Restricted Funds Dorset Household Fund Hardship Fund 9,950 20,000 29,950 9,950 20,000 29,950 Designated Funds Contingency Fund 30,000 30,000 General Funds Unrestricted income funds 63,623 93,623 125,1391 125,1391 38,484 68,484 123,573 125,1391 98,434 Designated funds Monies that have been set aside by the trustees for future development or potential but unknown crises. Restricted funds Monies donated during the year specifically to provide food. hygiene and household products to those in need. 12 Net assets by fund Un￿$trI￿ed Funds Total 2022 Restricted Current assets Creditors: Amounts falling due within one year 69,283 29,950 99,233 17991 17991 Net assets 68,484 29,950 98,434 li BRIDPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 13 Flnanclal instruments 2022 Categorisation of financial instruments.. Financial assets that are debt instrument measured at amortised cost 98,729 Financial liabilities measured at amortised cost 799 Item5 of income, expense. gains or losses The total interest income for fir)ancial assets not measured at fair value through profit or105s is £250. 12 Bridport Food Bank BRIDPORT FOOD BANK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Contents Annual report Pages 1-4 Independent Examinerfs Report Page 5 Statement of Financial Activities Page 6 Balance Sheet Page 7 Notes to the Financial Statements Page8-12 Charity Commission Registration number: 1195120 BRIDPORT FOOD BANK CHARITY INFORMATION FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 TRUSTEES: Chair-. Canon Reverend Deborah. Smith, Ex-ofPIcio Trea5urer.' Mrs Diane Benjamin, appointed Mr lan Bark, current Mayor of Bridport Mr5 Marie Ansell Mr Peter Wright, nominated Mrs Madeleine Sturrock, nominated PRINCIPAL OFFICE: St Marfs Church 84 South Street Bridport Dorset DT6 3NW CORRESPONDENCE ADDRESS: The Old Bakery Chideock Dorset DT6 6JQ REGISTERED CHARITY NUMBER: 1195120 INDEPENDENT EXAMINER: Marcus Cridland B.A.IHonsl F.C.A. Scott Vevers Ltd Chartered Accountants and Re8iStered Auditors 65 East Street Bridport Dorset DT6 3LB BANKERS: Natwest Bridport Dorset BRIDPORT FOOD BANK REPORT OF THE TRUSTEES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 The trustees present their report together with the financial statements of the charity forthe year ended 31 December 2022. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's governing document, applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. Whowe are and what we do Our Charitable Objects The objects of the CIO are the prevention andlor relief of poverty in Bridport and the surrounding area of Dorset for the public benefit. primarily through the provision of food, hygiene and household products. but also related additional services. assistance and support for those in need. Our Artivities Nine years ago, under the aegis of the St Mary's Church an or8anization known a 'Cupboard Love, was set up. This was conceived as a short-term solution to an immediate need but has sadly become an ever expanding and ongoing lifeline. Cupboard Love, now Bridport Food Bank, became a full registered charity in July 2021 and became independently operational on l January 2022. Bridport Food Bank provides morethanjust food. We work In partnership with a whole range of local agencies to provide sUPPOrt and advice. These include the Citizen's Advice Bureau, local schools, healthcare, housing, homeless and other voluntary organisations supporting those in crisis in the Bridport area. We operate a referral system for those needing ongoing support as well as an emergency help system. Our primary delivery model offood for 3 meals a day for 3 days a week, including fresh bread, eggs and vegetables is offered from St Mary's Church, Bridport every Wednesday from 10am until Ipm. An extension of this service will be offered from January 2023 based at the BYCC on Mondays from 5-7pm. Forthose who are housebound orwho cannot attend at these times we provide a home delivery service or other pick-up options. We continue to rely on donations of food from individuals and local businesses, and financial donations from many generous local people. BRIDPORT FOOD BANK REPORT OF THE TRUSTEES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 FINANCIAL REVIEW Financial position Total incoming resources for the year were £123,573 and net incoming funds were £98,434. Total funds at 31 December 2022 were £98,434 including restricted funds of £29,950 and designated funds of £30,000. Reserves Policy The trustees consider the appropriate level of free reserves they should retain is between 8 to 10 months of the committed expenditure of the charity, which equates to between £18,000 to £22,000 in general funds. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The charity was registered with the Charity Commission in July 2021. Trustees The board of trustees are made up of up to 9 Trustees of which I will be ex-officio clergy. Up to 3 will be nominated by the Bridport Churches and up to 4 will be taken from the wider Bridport community. The Chair will be elected by the Trustees. There are currently 6 Trustees on the Board who served durin8 the year. They are listed on page l. STATEMENT OF TRU5TEES' RESPONSIBILITIES Thetrustees are required under Chartylawto prepareffinancial 5tatementsfor eath finanaal yearwhich give a true and fair view of the state of affairs of the charity and of the finanaal artivities of the charity forthat period. In preparingthose finanaal statements, thetrustees are required to select suitable accounting policies and then apply them consistentlv; observe the methods and principles in the Charities 50RP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. BRIDPORT FOOD BANK REPORT OFTHE TRUSTEES FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for ensuring that the charity maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against loss or unauthorised use and to prevent and detect fraud and other irregularities. The annual report was approved by the trustees of the charity on on its behalf by: and si8ned Canon Reverend Deborah Smith Chair of Trustees INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF BRIDPORT FOOD BANK I report to the trustees on my examination of the accounts of Bridport Food Bank for the thirteen month period ended 31 December 2022, which are set out on pages 6 to 12. Responsibilitles and basls of report As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe Act). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to rny attention in connection with the examination giving me cause to believe that in any material respect: l. Accounting records were not kept in respect of the Charity as required by section 130 of the Act,. or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the exami nation to which attentlon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. M. Cridland BAIHonsl FCA Scott Vevers Ltd Chartered Accountants & Registered Auditors 65 East Street Bridport, Dorset DT6 3LB Date: Z5...{.0s..l.u. BRIDPORT FOOD BANK STATEMENT OF FINANCIAL AcfiviTIES FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Unrestricted Funds Restricted Total Funds Funds 2022 Note Income from: Donations and legacies 93,373 20,000 113,373 Other trading activities Activitie5 for raising funds 9.950 9,950 Investment income 250 250 Total income 93,623 29,950 123,573 Expendlture on: Raising funds Costs of raising voluntary income 882 882 Charitable activities 24.257 24,257 Total expenditure 25,139 25,139 Net income Gross transfers between funds 68,484 29,950 98,434 Net movements in funds Reconciliation of funds Total funds carried forward 68,484 29.950 98,434 68,484 29,950 98,434 All income and expenditure 15 derived from continuing activities. The charity has no recognised gains or losses for the year other than the results above. The notes on pa8es 8 to 12 form an inte8ral part of these financial statements BRIDPORT FOOD BANK BALANCE SHEET AT 31 DECEMBER 2022 Charity number.. 1195120 2022 Note Current assets Debtors Cash at bank and in hand 504 98.729 99,233 Creditor5- Amounts falling due within one year io 17991 Net current assets 98,434 Net assets 98,434 The funds of the charity: Restrlcted funds li 29,950 Unrestricted funds Designated funds General fund li li 30,000 38.484 Total charity funds 98,434 Approved by the Bo rd and signed on its behalf by.. Revd Canon Deborah Smit Chair of Trustees Diane Benja Treasurer Date: The notes on pages 8 to 12 form an integral part of these financial statements BRIDPORT FOOD BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 General information Bridport Food Bank is a charity, established as a Charltable Incorporated Organi5atioTr on 9 J uly 2021. The charity received donations in December 2021 and commenced operating in January 2022. The address of the registered office is provided in reference and administrative detai Is. Details of the charitvs operations are provided in the Report of the Trustees. Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation The charity constitutes a publlc benefit entity as defined by FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The accounts include the results of the charity's operations which are described in the Trustees, Report, all of which are continuing. Fund accounting pollcy Unrestricted income funds are general funds that are available for use at the trustee5' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed in note 11. Income Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, it is more likely than not that the trustees will receive the resources and the amount can be measured with sufficient reliability. Gift5 and services in kind are included at their estimated open market valuation. Deferred income represents amount5 received for future periods and is released to incoming resources in the period for which, it ha5 been received. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. BRIDPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Accounting policies {continuedl Expenditure Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to the expenditure and the amount of the obligation can be measured with reasonable certainty. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of raising funds are the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for it5 benef iciaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all cost5 involving public accountability of the charity and its compliance with regulation and good practice. Debtors Debtors (including trade debtors) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Going Concern The financial statements have been prepared on a 80ing concern basis as the trustee5 believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Income from donations and legacies Unrestricted Funds Restricted Funds Total 2022 Planned giving Donations and legacies 26.161 67,212 93,373 26,161 87,212 113,373 20,000 20,000 Activltles for ralslng funds Unrestricted Funds Restricted Funds Total 2022 Fundraising 9,950 9,950 9,950 9.950 BRIDPORT FOOD BANK NOTES TO THE FINANCIALSTATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Costs of raising voluntary income Unrestricted Funds Restrirted Funds Total 2022 Publicity and fundraising costs 882 882 882 882 Charitable activities Activities undertaken directly Support costs allocated Total 2022 Programme Support costs 8.078 8,078 16.179 16.179 8,078 16,179 24,257 Support costs Total 2022 Employment costs Volunteer expenses Office expenses Insurance Premise costs 8,917 1,029 ioi 551 4,879 Governance costs Payroll fees Independent examiner's fee 162 540 702 16,179 Employees, remuneration No trustees received any remuneration or expenses during the year. The costs of the remaining staff were as follows: 2022 Wages and Salaries 8,744 8,744 No employee earned more than £60,000 during the period. The average full time equivalent number of staff employed by the charity durin8 the year analysed by function was.. 2022 Average full time equivalent number of staff employed The average number of staff employed IHeadcount) 1.08 io BRIDPORT FOOD BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE THIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 Debtors 2022 Prepayments and accrued income 504 504 10 Creditors: Amounts falling due wlthln one year 2022 Taxation and social securitv Accruals 223 576 799 11 Analysis of funds Incoming resources Resources expended C/Fwd 31.12.22 Restricted Funds Dorset Household Fund Hardship Fund 9,950 20,000 29,950 9,950 20,000 29,950 Designated Funds Contingency Fund 30,000 30,000 General Funds Unrestricted income funds 63,623 93,623 125,1391 125,1391 38,484 68,484 123,573 125,1391 98,434 Designated funds Monies that have been set aside by the trustees for future development or potential but unknown crises. Restricted funds Monies donated during the year specifically to provide food. hygiene and household products to those in need. 12 Net assets by fund Un￿$trI￿ed Funds Total 2022 Restricted Current assets Creditors: Amounts falling due within one year 69,283 29,950 99,233 17991 17991 Net assets 68,484 29,950 98,434 li BRIDPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THETHIRTEEN MONTH PERIOD ENDED 31 DECEMBER 2022 13 Flnanclal instruments 2022 Categorisation of financial instruments.. Financial assets that are debt instrument measured at amortised cost 98,729 Financial liabilities measured at amortised cost 799 Item5 of income, expense. gains or losses The total interest income for fir)ancial assets not measured at fair value through profit or105s is £250. 12