Bridport Food Bank Love BRIDPORT FOOD BANK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Annual report Pagesl-5 Independent Examinerfs Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Page 8 Notes to the Financial Statements Page9-15 Charity Commission Registration number.. 1195120
BRIDPORT FOOD BANK CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES: Chair: lan Bark Treasurer.. Diane Benjamin (January to September 20241 Lisa Pinch Ifrom October 20241 Canon Reverend Deborah Smith, Ex-officlo Marie Ansell Susan Clark Jim Mitchell Ifrom April 20241 Madeline Sturrock Peter Wright PRINCIPAL OFFICE: St Mary's Church 84 South Street Bridport Dorset DT6 3NW REGISTERED CHARITY NUMBER: 1195120 INDEPENDENT EXAMINER: Marcus Cridland B.A.IHonsl F.C.A. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorset DT6 3LB BANKERS: Natwest 22 East Street Bridport Dorset
BRIDPORT FOOD BANK REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report together with the financial statements of the Charity for the year ended 31 December 2024. 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. 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 ACTIVITIES Throughout the year, our service has provided weekly parcels of food for 3 meals a day for 3 days, including fresh bread, eggs and vegetables, and hygiene and household goods. This was offered from Bridport Youth and Community Centre every Monday from 5pm until 7pm and from St Mary's Church, Bridport every Wednesday from 11am until Ipm. During these times, we also provided a free café service, to allow food bank users to relax and chat in a safe and welcoming environment. In addition, for those who are housebound or who cannot attend at these times. we provided a home delivery service or other pick-up options. Our Wednesday service is complemented at St. Mary'5 Church by Bridport Clothes Bank and by service points of Citizens Advice and First Point, a housing, health and well-being service. Our service is generously supported by financial grant5 and donations, by the donation of 800ds by local supermarket5 through the Fairshare national scheme, and by individuals usin8 supermarket, independent shops, and other drop off points. Beneficiaries are referred to Bridport Food Bank on the basis of need by Citizens Advice, health services and local schools. Bridport Food Bank is the only food bank in the local area registered as a charity and is the principal food bank service provider in the community.
BRIDPORT FOOD BANK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE In 2024, the trend of a gradual rise in user numbers has continued. We distributed an average of approximately 60 parcels per week and about 50% of these support families. The content of the parcels may vary according to household size and individual needs. Overall, we support about 120 adults and children every week. Through informal interviews and surveys, we know that the practical help and emotional support we provide is essential and highly valued. The broader economic background and inflatlonary pressures led to a general reduction in the donations of goods by supermarkets and individuals. This has required greater expenditure on the purchase of food, hygiene and household goods to sustain a consistent supply of parcel items. This caused a significant change to our operating model during 2024, requiring more complex purchasing and logistics systems. We continually developed and adapted our support systems to ensure a seamless, quality service to our users. These changes have made it a challenging year for our 2 paid part-time employees and for our volunteers, and all rose to the occasion with enthusiasm. Volunteer turnover has been low and recruitment has been healthy. Our 25 volunteers are highly motivated and committed. Our Hardship Fund, a restricted fund that is supported by a generous donation made in 2023, has continued to support households in financial hardship by providing funding for children's school clothing, basic furniture. and white goods. This discretionary fund is managed jointly with Bridport Citizens Advice. It seems clear that a divergent trend of increasing demand and reducing donations will continue to challenge in the future. Mindful of our charitable objects. Bridport Food Bank has kept the situation under review and has continued to evolve our operating model and processes responsively to deliver a sustainable Service. We have been alert to national initiatives and trends regarding food bank operations and continually evaluate potential opportunltles and ideas. However. we have no current plans to radically alter our successful operating model. But we remain open-minded to change. The trustees are confident that they have complied with their duty with regard to the Charity Commission's public benefit and general guidance.
BRIDPORT FOOD BANK REPORT OF THETRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2024 FINAI4CIAL REVIEW Flnancial position Total incoming resources for the yearwere £74,50912023: £89,912). Expenditure was £70,381 12023.. £56, 1621. Hence, net incoming funds over the year were E4.12812023'. £33,750). Total funds at 31 December 2024 were £136,312 12023.. £132.1841 including restricted funds of£20,04712023'. £68,243). Reserves Pollcy The trustees consider the appropriate level of free reserve5 they should retain is between 6 and 8 months of the committed expenditure of the charity, which equates to between £30,000 - £35.000 in the 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 objects even if there is a temporary shortfall in income or unexpected expenditure. STRucfuRE, GOVERNANCEAND MANAGEMENT Governing Document The Charity was registered with the Charity Commission in July 2021 and is governed by Constitution. The Constitution was updated in July 2024 with minor corrections and amendments in accordance with Charity Commission guidance. Trustees The board of trustees is made up of up to 8 Trustees of which I will be ex-officio clergy. Up to 4 will be nominated by the Bridport Churches and up to 4 will be appointed from the wider Bridport community. The Chair will be elected by the Trustees. The names of Trustees are listed on page l. One trustee was appolnted In April to fill a vacancy and the Treasurer, a trustee, stood down in September and was immediately replaced. Newly appointed trustees are provided with an induction to the Charity through provision of training courses and mentoring by established trustees. Management The trustees meet monthly but hold additional meetings as required. Operational management Is devolved to a paid part-time Coordinator who attends trustee meetings and manages the volunteers and service sessions. An additional paid part-time employee manages Bridport Food Bank's IT, including email accounts and website.
BRIDPORT FOOD BANK REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are required under Charity law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the financial activities of the Charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP,. 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 5tatements,' and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the Charity will continue in buslness. The trustees are responsible for keeping proper accountlng 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 IAccount5 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 a55ets 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 signed on its behalf by: and Councillor lan Bark 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 year ended 31 December 2024, which are set out on pages 7 to 15. Responsibilities and basis of report As the trustees of the Charity, you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of the Charitvs 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 14515llbl of the Act. Independent exarninerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me Cause to believe that in any material respect.. l. Accounting records were not kept in respert 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 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 examination to which attention 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: ..i*l.ts6..1.¥.c
BRIDPORT FOOD BANK STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED YI DECEMBER 2024 Unrestrlrted Funds Restricted Total Fund5 Funds 2024 Total Funds 2023 Note Income from: Donations and legacies 57,817 5,000 62,817 86.912 Charitable activities 10,500 10,500 3,000 Investment incorne 1,192 1,192 Total income 59,009 15,500 74,509 89,912 Expendlture on: Costs of raising voluntary income 1,613 1.613 1.879 Charitable activities 25,072 43,696 68,768 54,283 Total expenditure 26.685 43,696 70,381 56,162 Net income 32.324 128,1961 4,128 33,750 Gr055 transfers between funds 20,000 120,0001 148,1961 Net movements in funds 52,324 4,128 33,750 Reconciliation of funds Total funds brought forward Total fund5 carried forward 63,941 68,243 132,184 98,434 116,265 20,047 136,312 132,184 All income and expenditure is derived from continuing activities. The charity has no recognised gains or losses for the year other than the results above. The notes on pages 9 to 15 form an inte8ral part of these financial statements
BRIDPORT FOOD BANK BALANCE SHEET AT 31 DECEMBER 2024 Charity numbeT.' 1195120 2024 2023 Note Current assets Debtors Cash at bank and in hand 641 132,170 132,811 137,578 137,578 Creditors- Amounts falling due within one year Net current assets io 11,2661 16271 136,312 132.184 Net assets 136,312 132,184 The funds of the charity: Restrlcted funds li 20,047 68,243 Unrestrl¢ted funds Designated f unds General fund li li 61,034 55,231 30,000 33,941 Total charity funds 136,312 132,184 Approved by the Board and signed on its behalf by.. IJIPMCL. Councillor lan Bark - Chair of Trustees Llsa Pinch Treasurer Date.. The notes on pages 9 to 15 form an integral part of these financial Statements
BRIDPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l General Informatlon Bridport Food Bank is a charity. established as a Charitable Incorporated Organisation on 9 July 2021. The address of the registered office is provided in reference and administrative details. Details of the charity's operations are provided in the Report of the Trustees. Accountlng policies The principal accounting policies adopted, judgement5 and key sources of estimation uncertainty in the preparation of the financial statements are as follows- Basls of preparation The charity constitutes a public benefit entity as defined by FRS 102. The financial 5tatement5 are prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reporting by Charitie5: 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 Icharities 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 Report of the Trustees, all of which are continuing. Accounting convention The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertaintie5 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 resee5 for the charity to be able to continue as a going concern. Fund accounting policv Unrestricted income funds are general funds that are available for use at the trustees, 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 restrirted 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 entitlernent. it is more likely than not that the trustees will receive the resources and the amount can be measured with sufficient reliability. Gifts and services in kind ore 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 has been received. Volunteer help The value of any voluntary help received is not induded in the accounts but is described in the trustees, annual report.
BRIOPORT FOOD BANK NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2024 2 Accounting policies (continued} Expendlture 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 its beneficiaries. It include5 both costs that can be allocated dirertly 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 costs involving public accountability of the charity and its compliance with regulation and good practice. Pensions The charity operates a defined contribution pension scheme which 15 a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal of constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefSts relating to employee service in the current and prior periods. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. Taxation The charity is consldered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meet5 the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Debtors Debtors (including trade debtorsl 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. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an Ill5ignificant risk of change in value. io
BRIDPORT FOOO BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2 Accountlng pollcles (contlnued) Financial instruments Classificotion Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction price lincluding transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value Iwhich is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transactions. If an arrangement constitutes a financing transaction, the financial a55et or financial liability is measured at the present value of the future payments di5COUnted at a market rate of interest for similar debt instruments. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when al the contractual rights to the cash flow5 f rom the financial asset expire or are settled, bl the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or cl the charity, despite having retained some, but not all, significant ris and rewards of ownership, has transferred control of the a55et to another party. Financial liabilities are dereco8nised only when the obligation specified in the contract is discharged. cancelled or expires. 3 Income from donations and legacies Unrestricted Fund5 Restricted Funds Total 2024 Total 2023 Planned giving Donations and legacies Gift aid recoverable 25,474 22,930 9,413 57,817 25,474 22.930 14,413 62,817 52,661 34,251 5,000 5,000 86,912 4 Charitable activities Unrestrlcted Funds Restrlcted Funds Total 2024 Total 2023 Grants Fundraising 10.500 10,500 3.000 3,000 10,500 10,500 li
BRIDPORT FOOD BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 5 Costs of ralslng voluntary income Unrestricted Funds Reslricted Funds Total 2024 Total 2023 Publicity and fundraising costs 1,613 1,613 1,613 1,613 1,879 1,879 Charitsble activities Unrestricted Funds Restrirted Funds Total 2024 Total 2023 Staff costs Direct costs Support cost5 Governance costs 16,907 16,907 43,696 6,542 1,623 68,768 14,803 32.534 6,013 933 54,283 43,696 6,542 1,623 25,072 43,696 staff costs Salarie5 Travel Sundries 16,894 13 16.894 13 14,762 41 14,803 16,907 16,907 Direct costs Programme 43,696 43,696 43.696 43,696 32,534 32,534 Support costs Volunteer expenses Office expenses Insurance Premises costs 711 711 1,361 200 504 3,948 6,013 118 118 525 5,188 6,542 525 5,188 6,542 Governance costs Meeting expenses Payroll fees Independent examiner's fee 90 312 90 312 90 276 567 933 1.221 1,623 1,221 1,623 12
8RIDPORT FOOD BANK NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Employees, remuneration No trustees received any remuneration or expenses during the year. The costs of the remaining staff were as follows.. 2024 2023 Wages and salaries Social security Pension costs 16,645 14,762 249 16,894 14.762 No employee earned more than £60,000 during the period. The average full time equivalent number of staff employed by the charity during the year analysed by function was= 2024 No. 2023 Average full time equivalent number of staff employed The average number of staff employed (Headcountl 1.00 1.08 Penslon commltments The charity operates a defined contribution scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £24912023: £nill. Debtors 2024 2023 Other debtor 641 641 10 Creditors: Amounts falling due within one year 2024 2023 Accruals 1,266 1,266 627 627 13
BRIDPORT FOOD BANK NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 Analysis of funds At 01.01.24 Incomin8 resources Resources expended Transfers At 31.12.24 Restrlcted Funds Dorset Household Fund Hardship Fund 9.950 58,293 68.243 10.51)0 5,OlJO 15,500 118,5861 125,1101 143,6961 1,864 18.183 20,047 120,0001 120,0001 Designated Funds Contingency Fund 30.000 31,034 61,034 General Funds Unrestricted income funds 33,941 63,941 59,009 59,009 126,6851 126,6851 111,0341 20,000 55,231 116,265 132,184 74,509 170,3811 136,312 At Incomlng resources Resources expended 2023 01.01.23 Tronsftrs At 31.12.23 Re5trirted Funds Dorset Household Fund Hardship Fund 9,950 20,000 29,950 9,950 58,293 68.243 23,634 23,634 {5,341J (5,341) 20,000 20,000 Designated Funds Contingency Fund 30,000 30.000 Genernl Funds Unrestricted incomefunds 38.484 68,484 66,278 66,278 (50,821) 150.821) (56,162) (20.000) (20,000) 33,941 63.941 98,434 89,912 132.184 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. 14
BRIDPORT FOOD BANK NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2024 12 Net assets by fund Unrestrirted Funds Restricted Fun(ts Total 2024 Current a55ets Creditors.. Amounts falling due within one year Net assets 117,531 11,2661 116,265 20,047 137,578 11,2661 136,312 20,047 Unrestrirted Restrirted Funds Fund5 Totol 2023 2023 Current assets Creditors.. Amountsfalling due within one year Net assets 64,568 (627) 63,941 68,243 132,811 (627) 132,184 68,243 13 Flnanclal Instruments 2024 2023 Categorisation of financial instruments- Financial assets that are debt instrument measured at amortised cost 137,578 132,811 Financial liabilities measured at amortised cost 1,266 627 Items of income, expense, gains or losses The total interest income for financial assets not measured at fair value through profit or loss is £1,19212023: £nill. 14 Related Partles Donations in the normal course of giving have been received from related parties. 15