Charity registration number 1199787
GODALMING AND VILLAGES COMMUNITY STORE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
GODALMING AND VILLAGES COMMUNITY STORE
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | E S Spencer |
|---|---|
| A S Barker | |
| K L Hardy | |
| Charity number | 1199787 |
| Principal address | Farncombe Cricket Club |
| Summers Road | |
| Farncombe | |
| Godalming | |
| United Kingdom | |
| GU7 3BE | |
| Independent examiner | David Howard |
| 1 Park Road | |
| Hampton Wick | |
| Kingston Upon Thames | |
| KT1 4AS |
GODALMING AND VILLAGES COMMUNITY STORE
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
GODALMING AND VILLAGES COMMUNITY STORE
TRUSTEES REPORT
FOR THE PERIOD ENDED 31 JULY 2023
The Trustees present their annual report and financial statements for the period ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 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 102)" (effective 1 January 2019).
Objectives and activities
The relief of financial hardship amongst people in Godalming and its surrounding villages in providing
a) emergency food, essential toiletries and household items to individuals and families in need, b) distribution of the above items to charities and organisations working to prevent or relieve poverty and c) the provision of signposting to relevant information and other advisory services.
Achievements and performance
Godalming and Villages Community Store came into operation on the 20th April 2020 as a response to the Covid pandemic. It was managed by Godalming Town Council and staffed by volunteers, initially as a temporary measure and only available to those furloughed or suffering loss of earnings due to the pandemic. However, as time passed it became clear there was a wider need for help and in August 2021, management of all operations was passed to the volunteer group and access widened to the entire community on a referral basis. The Store was still overseen by Godalming Town Council at this time.
In May 2022, the Store was relocated to newly refurbished premises in the grounds of Farncombe Cricket Club. The building is owned by Waverley Borough Council, the refurbishment costs were paid for by existing Community Store funds, a grant from Godalming Town Council and a grant from The Caudle Trust.
In July 2022, Godalming and Villages Community Store received charitable status becoming completely autonomous and separate from Godalming Town Council.
Referral requirements
Referrals can be accepted from any relevant agency. The maximum length of a referral is 3 months after which clients are required to get a re-referral from Citizens Advice to ensure they are getting all help available to them.
Customer numbers
Comparison periods are from 1st April to 31st March
* November 2022 most people changed to fortnightly visits in order to accommodate our growing numbers which is reflected in the number of households we support. However, this means that 2022/2023 is not directly comparable to the two previous years with regards to stock required in the Store as households take more for a fortnight. We also deliver stock to The Godalming Foodbank at St Mark’s on a weekly basis and have also been able to help Elstead foodbank periodically with basic items.
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GODALMING AND VILLAGES COMMUNITY STORE
TRUSTEES REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
Food donations
Donation points are located in the Godalming Sainsburys, Waitrose, Co-op and Milford Tesco Express and are the main source of our supplies. Harvest festival is an essential calendar event, supported by several local schools and ensures we are stocked up ready for the winter demand.
We are able to provide a good quantity of bread, fruit and vegetables thanks to regular donations from the Farncombe co-op, home grown vegetables from our community and excess supermarket produce sourced via Olio. The Hall Hunter partnership also donate seasonal strawberries.
Grants and Funding
Three separate grants of £5000 received from the Surrey County Council Household Support Fund were used to purchase Sainsburys vouchers given to our customers at Christmas 2022, Easter 2023 and summer holidays 2023. Waverley Borough Council administered the fund and made these grants available to us.
Additionally, we receive regular one-off donations and standing orders from individuals and businesses. We do not have any paid volunteers; all monies donated are used to purchase fridge and freezer foodstuffs and non-perishable food and household items for the Store. We incur small admin costs for the Store phone, printing and stationery.
We would like to say a huge thanks to all of our volunteers and supporters who give time and/or donations during this period.
Trustee meetings
Committee meetings are held twice a year, all members are invited and an additional 4-5 people are elected as committee members (in addition to the Trustees) to ensure good communication and oversight of Store operations. Standing agenda items include finance, referral numbers and new/updated policies.
Financial review
During the period the charity had income resources of £96,116 and a total expenditure of £25,275 resulting in net resources of £70,841.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a charitable organisation, registered with the Charity Commission on the 26 July 2022. The Trustees who served during the period and up to the date of signature of the financial statements were: E S Spencer
A S Barker K L Hardy
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GODALMING AND VILLAGES COMMUNITY STORE
TRUSTEES REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Statement of Trustees responsibilities
The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The 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 state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
The Trustees report was approved by the Board of Trustees.
.............................. K L Hardy Trustee
Date: ............................................. 4th June 2024
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GODALMING AND VILLAGES COMMUNITY STORE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GODALMING AND VILLAGES COMMUNITY STORE
I report to the Trustees on my examination of the financial statements of Godalming And Villages Community Store (the Charity) for the period ended 31 July 2023, which are set out on pages 4 to 10.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
David Howard
1 Park Road Hampton Wick Kingston Upon Thames KT1 4AS
04/06/2024
Dated: .........................
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GODALMING AND VILLAGES COMMUNITY STORE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 31 JULY 2023
| Unrestricted | ||
|---|---|---|
| funds | ||
| 2023 | ||
| Notes | £ | |
| Income from: | ||
| Donations and legacies | 3 | 38,878 |
| Charitable activities | 4 | 57,238 |
| Total income | 96,116 | |
| Expenditure on: | ||
| Charitable activities | 5 | 25,275 |
| Net income for the period/ | ||
| Net movement in funds | 70,841 | |
| Fund balances at 20 September 2022 | - | |
| Fund balances at 31 July 2023 | 70,841 |
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
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GODALMING AND VILLAGES COMMUNITY STORE
BALANCE SHEET
AS AT 31 JULY 2023
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Unrestricted funds The financial statements were approved by the Trustees on ......................... .............................. K L Hardy Trustee 4th June 2024 |
2023 £ 72,161 (1,320) |
£ 70,841 |
|---|---|---|
| 70,841 | ||
| 70,841 | ||
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GODALMING AND VILLAGES COMMUNITY STORE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
1 Accounting policies
Charity information
Godalming And Villages Community Store is a charity incorporated in England and Wales. The registered office is C/O Farncombe Cricket Club Summers Road, Farncombe, Godalming, GU7 3BE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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GODALMING AND VILLAGES COMMUNITY STORE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | |
|---|---|
| funds | |
| 2023 | |
| £ | |
| Donations and gifts | 38,878 |
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GODALMING AND VILLAGES COMMUNITY STORE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
4 Charitable activities
| Council grant income Other grant income 2023 2023 £ £ Performance related grants 42,238 15,000 5 Charitable activities Charitable expenditure Share of support costs (see note 6) Share of governance costs (see note 6) |
Total 2023 £ 57,238 |
|---|---|
| 2023 £ 22,692 1,263 1,320 |
|
| 25,275 |
6 Support costs
| Support costs | |
|---|---|
| Support costs Governance costs £ £ Cleaning 52 - Postage, Freight & Courier 78 - Printing & Stationery 104 - IT Software and Consumables 227 - Repairs & Maintenance 740 - Telephone & Internet 62 - Accountancy - 1,320 1,263 1,320 Analysed between Charitable activities 1,263 1,320 |
2023 £ 52 78 104 227 740 62 1,320 |
| 2,583 | |
| 2,583 |
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GODALMING AND VILLAGES COMMUNITY STORE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the period.
8 Employees
The average monthly number of employees during the period was:
| The average monthly number of employees during the period was: | |
|---|---|
| 2023 | |
| Number | |
| Total | - |
| There were no employees whose annual remuneration was more than £60,000. |
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Creditors: amounts falling due within one year
| 10 | Creditors: amounts falling due within one year | |
|---|---|---|
| 2023 | ||
| £ | ||
| Accruals | 1,320 | |
| 11 | Analysis of net assets between funds | |
| Unrestricted funds | ||
| 2023 | ||
| £ | ||
| Fund balances at 31 July 2023 are represented by: | ||
| Current assets/(liabilities) | 70,841 | |
| 70,841 |
12 Related party transactions
There were no disclosable related party transactions during the period ( - none).
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