Charity Registrgtion Number 1200S03 FINCHLEY rooD FOR PEOPLE IN NEED FINCHLEY FOODBANK REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 29 SEPTEMBER 2022 TO 31 DECEMBER 2023 Accura Accounlanls Ltd Langley House pa Road East Finchley London N2 8EY
FINCHLEY FOODBANK CONTENTS Paga Reference and adminislratNe inft)miation Trustees, report Independent examinerfs report Statement of financial activities Balance sheet 12 Note5 to the financial slalements 13-15
FINCHLEY FOODBANK REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE PERIOD ENDED 31 DECEMBER 2023 Charity Name Finchley Foodbank Principal Address Sl Mary's Catholic Church, 279 High Road, London N2 8HG. Charity Registration 12000503. The tharity was registered wrf(h the Charty Commission on 29 Sept 2022. Governlng Document CIO Foundation Objects The relief of financial hardship amongst people in the London Borough of Barnet and the surrounding area in such ways as the trustees from ts'me to time think fil, in particular, bul not exclusivety by.. lal providing emergen food, essential toiletries and household rtems to individuals and families in need andlorfordislribulion by charities orother organisationsworking lo prevent or relieve poverty and Ibl such other means, including Ibul not limited tol the provision of support or signposting to relevant infomialion and other advisory services Trustggs The Trustees who served during the period or who were serving al the dale of this report were.. Oladipo (Dipol Oyewole (Chairl Helena Pugh Fr Peter Scott Helen Doran ITre8surerl Vicky IVas5ilikil Kydoniefs Nathy's Mussolo Kevin Ramsey Paul Woodward lappointed 7 June 20221 lappoinled 7 June 20221 lappointed 7 June 20221 (appointed 7 June 20221 lappoinled 9 July 20241 (appointed 9 July 20241 (appointed 9 July 20241 lappoinled 9 July 20241 Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent, ME19 4JQ Independent Examlner Accura Accountants Langley House Park Rd London N2 8EY
FINCHLEY FOODBANK TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 The Iruslees present their annual report and financial statements of Finchley Foodbank I'lhe Charily'l for the period from inception on 29 September 2022 10 31 December 2023 The referen and administrative infomialion sel out earlier in this document forms part of the report. History of the Charity and current status The foodbank was established in 2013 as part of an ecumenical inrtiatNe involving Sl Mary's RC Church.. other local churches., various organisations,. and the local community. At that time. it was under the auspices of the Vveslminsler Roman Catholic Diwese Trusl (WRCDT). On 29 September 2022. the for*Jbank registered with the Charty Ccxnmission as a Charitable In{pOrated Chartty. This report Covers ils first operational period as an independent charty. The Charity continues to operate from the hall behind St Mary's RC Church which remains supportive of ils operations. Activities The Trustees have complied wth the duty in section 4 of the 2006 Act lo have due regard to guidance on publ benefit published by the Charity Commission. During the period the Charity carried out the following actiwties to benefit the local ¢ommunity'. The Charity supports those experiencing f¢xMJ poverty in the London Borough of Barnel. Clients are interviewed when registering with the Charty In order lo ascertain their needs. They are required lo provide a letterlbilvstalemenl, dated not more than three months from registration d81e. Showing their name and addre55. Clients musl live in the London Borough of Bamel. The foodbank is open to clients on Tuesdays and Saturdays all year round. Clients are invited into the parish hall where they can choose approximately three days of emergency food, essential toiletries and household items from two stocked storerooms. Restrictions are in place on the number of emS that can be selected according lo household size. Clients are also offered fresh fruit and vegetables as well as bread. In addition lo providing emergency food, the Charty has partnered wrth slalulory and other agencies and offers'signposting. lo direct clients to the appropriate agencies and resources lo assist with their longer- term needs. During the period lo 31 December 2023, the Charty had two part-time members of staff. (See also note 3 on page 14.1 Achievements and perfomiance Operational changes Over the past 15 months, the foodbank has undergone significant operational changes. Under the leadership of the Foodbank Manager, Anna Maughan, who has also volunteered with the Charty for over a decade, an operational plan lo help Ih05e experiencing food povety in the borough has been developed. Wrth strong support from the management team and dedicated volunteers. Anna has successfully transformed the food bank's operations. Starting in October 2022, after the months of meticulous planning. the new system was implemented where clients no longer wail outside the parish hall for pre-prepared bags of emergency food. Instead. we now welcome clients into the foodbank hall and lo two adjoining 'shops'4onverted storerooms where they can choose the rtems they need from well-stocked shelves. While Ihere are restrictions in pla on the type and number of items to choose from, based on household size, this more dignified approach has been very well received. Additionally, we no longer need to purchase plastic bags as clients bring their own reusable bags.
FINCHLEY FOODBANK TRUSTEES, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Client support $eNlces Opening up the parish hall has allowed us to establish our client support servi. Through working with local sijpport agencies, clients are empower lo find ways lo improve their economic circumstsnces, so they are not so dependent on the foodbank. We are delighted lo be in a position to offer clien15 advice on a range of issues on an individual, face-to-face basis, in addition lo supporting them with emergency food. In December 2023, we partnered with Citizens Advice Bamel ICABI. Funded by the Charity, an advisor attends the parish hall al the open sessions on Tuesdays and Saturdays. The advisor provides specialist advice and support lo clients on a range of issues. including advice on debt, benefits, housing and employment. The service slopped in June 2024 but CAB hope lo be in a position to SuMe the service later in the year. Local voluntsry organisalions such as BOOST, Wesl London Works. Age UK. Green Dcctors, elc., visit the foodbank regularfy lo provide advice on the cost-of-living support, employment, and training opportunities. Since Dember 2023 8 digital champion volunteer has been attending open sessions to help clients gel online so that they can apply for Servi5, sel up email aecounls, search for ernploymenl and slay conneded. We have distributed over 120 free Vodafone SIM cards, loaded with 20140GB of data plus free calls and texts for up lo six months. Our volunteers wrfte a monthly newsletter, which is distributed to clients during open sessions and is also available on our website, https'.ItThrn.finchleyfoodbank.org.uk. The newsletter features a monthly topie and provides advice on where lo find help and support. 2024 Survey In February 2024, we conducted another survey of our clients. During the survey period from 6th to 19W February 2024, 337 elienls (representing approximatety 960 people) visvced the foodbank. Here are some highlights of the Survey. The full version is available on our website. h1tps'.lfv.finchleyrO0dbank.org.Uk. Hovsehold type by week visited 250 244 236 200 137 150 92 loo 06 08 41 58 50 Single adult only Sin91• wilh ehildlren m[11P1 tsdulls Qhly Adulls tsnd <hild}Mn To*41 No. •F hovifholds Vl¥ltfjd 61h & lthh F•b No. •f hovseholds visited OTr 13th & 171h Feb Numb•r of hpuléhplds ihot viwtsd both wwk¥ Of the households who visited during the survey period, the largest type was adult5 with children, followed by aduh only households. The smallest household type was single adults with children.
FINCHLEY FOODBANK TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Ethnic group Yo12022 n= 118; 2024 n-1371 70 57 5a.B 50 40 30 17.6 19.2 20 14.6 10.1 6.65 9A Whit• Black Mulliple ethnic
rovp$
oihev Pr•f•r nvl t• 14y $lot•d 20221%) ll 20241%) * 2021 Census LB BaTn•t (%} The survey found that.. just under half148.9YD} of those who SpOnded were while, lower than in our 2022 survey and the percentsge of the while population living in Barnel. alrnosl double the percentsge of respondents were black in both 2022114.30AI and 2024115.3Yol compared with the Bafnel figure17.9Qknl. the percentage of Asian ppIe114.8ofil responding in 2024 was lower than in 2022117.60kl and the Barnet figure119.20AI. Hovseholds claiming benefits % In-1391 28.8 03.3 Y•$ w No i Not ivre Not sluled Two thirds of those who responded {88 clientslhousehold membersl were claiming benefits.
FINCHLEY FOODBANK TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DEGEMBER 2023 Numberof households supported During the fifteen-month period to 31 December 2023. we had 13,124 household visi(s to the foodbank. From March 202110 February 2024, the weekly average number of households being supported has increased from 105 to 248, representing around 710 indThiiduals, including approximately 240 children. This is a huge increase in the number of people supported and has implications for how the foodbank operates going forward. Average number of household visits per week 203 213 149 105 iio 119 Mur- Jun 2021 Jul -De< 2021 JaTr-JuD 2022 Jvl-Dg¢ 2023 Jon -Jun 2023 Jtsl.Dèc 2023 01101124 17102124 In December 2023 we distributed 350 winter wami premium packs lo clients. Food and essential items donations During the fifteen-monlh period. we distributed £130k worth of non-perishable food and essential items, generously provided by Food Bank Aid la charity which supports 32 food banks across north London and Hertfordshirel and £20k in lolal from Aldi". Sainsburys.. Tesco.. Groundwork,. individuals., schoD15,' street collections and local faith organisalions. We are fortijnale to receive fresh bread and bakes each Monday and Friday evening from local bakeries such as Gails, Dunn's," Parkway Palisserie," as well as Wailrose. Purchases of fresh fruit and vegetables are supplemented by donations from Bamel Food Hub, St Mary's RC Church and East Finchley allotments. We are immensely grateful for all the support we have received. With over 64Q/o of food donations coming from Food Bank Aid, our operations would not be possible wilhoul their continued support. Volunteèrs We have over 185 regular volunteers, including young people on the Duke of Edinburgh's Award, who give up their time on Mondays. Tuesdays. Fridays and Saturdays. Over the 15-month period volunteers have given 15,000 hours. Without thè compassion and dedication of our volunteers, the Charity could not have risen lo the enormous challenge of 5UPPOrting so many individuals experiencing food poverty. Govemance The trustees are supported by the Management Group IMGI by providing operational expertise, implementing strategic plans, managing finances, identifying and mitigating risks, leading fundraising efforts. supporting governance processes, communicating Wlth slakeholder5, developing policies, managing human resour¢es. and monitoring and evaluating the Charity's work. Meetings are held Month in person, with additional meetings conducted online as needed. In July 2024, following a successful campaign, we recruited four more Iruslees and o more MG rnembers, thus enabling truStS lo continue lo focus on long-term strategic planning and policy- making and lo provide independent oversight. None of the trustees reiVeS remuneration or other benefit from their work wrth the Charity.
FINCHLEY FOODBANK TRUSTEES. REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Risk Managernent The Iruslees recognise the importance of effective risk management to ensure the stability and sustainabilty of the Charity. To this end, we maintain a comprehensive risk register. This register identifies the key risks facing the Charity, including financial, operational, and strategic risks, and outlines the measures we have put in place lo m(tigale these risks. Over the next reporting period, the most significant risk5 we face, with the highest impact, are insufficient volunteers and inadequate funding. Our risk register is regularly reviewed and updated by the trustees and MG lo ensure th81 rt remains current and reflects any new risks or changes in our operating environment. Flnaneial Review The financial position for the period ending 31 December 2023 is a surplus of £50.8k. The Charity benefrts greatly from the 5UPPOrt of individuals1£111.7kl,' grant51£11.8kl,' faith organisalions1£7.4kl,' charities and organisalions 1£4.9kl. Martin's schix)11£3.1 kl., proceeds from sales of honey donated by a I31 residenl1£3.5kl', East Finchley Open Artisls1£1.5kl', the Charity's own fijnd raising activities1£1.3k}', hol water bottle fundraiser1£1.2kl', cycle ride fundraiser I£0.8kl,' Oscarfs books fundraiser I£0.3kl,' gfft aid1£4.3kl and investment income {£2.7kl. Non-financial donations ()f food and other items lolalled £1 $3.7k. Summary posltlon for the 15-month perlod Income Ex enditure Sur lus 308,194 -257,419 Total expenditure was £257.4k. Food, loilelries and other essential items (including a value for donated food and ilemsl was over 78Qkn of total expenditure. The remainder of expenditure was on salaries,. operating costs,. rent., and funding a Citrzen's Advice Bamel advisor. Reserves pollcy The Trustees reviewed the Charity's reserves, considering financial risks, and determined that reserves should cover six months of running costs, including food, essential items, training. IT, and advisory expenses. As much of the food is donated and safeguarding training is provided free, the reseNes policy is based on total costs should these rtems need lo be purchased. Wrth the closure of Barnel Food Hub in September 2024, food costs are expected lo rise. Unrestricted costs for the six months lo December 2023 were £58.8k", purchasing 650/0 of donated items is estimated at £39k'. and a partnership with Cilyzens Advice Barnet ICABI adds £16 4k to support costs. This brings the target reserves to £114.2k. slightly undei the Current serveS of £114.5k, which includes £63.7k relating to the period before the Charty's independence. The Trustees consider il prudent lo maintain higher reserves due lo a forecast deficit of £5k per month, with reserves forecast to fall to £81k by January 2025. Fundraising efforts have resumed to ensure a sustainable reserve balan. The Iruslees eonsider that the Charity is a going cOnM for the foreseeable future.
FINCHLEY FOODBANK TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Finally, on behalf of the Iruslees, I would like to thank everyone who has contributed lo the running of FinchSey Foodbank. Whether as a member of the Management Group,. assisting the Foodbank Manager,. volunteering., donating food and money, your efforts have been invaluable. We a ever grateful to Fr Peter and lo the Di0Se for their continued support of Finchley Foodbank. Wrthoul all of you we would not have been able lo support 13,124 visits to Finchley Foodbank over the 15-month period. The trustees, report was approved by the Iruslees. Dipo Oyewole Dipo Oyewole Chalr of Trustees 8 September 2024
FINCHLEY FOODBANK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FINCHLEY FOODBANK Independent examinerfs report to the trustees of Finchley Foodbank I report to the charity Iruslees on my examination of the accounts of Finchley Foodbank Ilhe Trust) fof the period 29 September 2022 to 31 December 2023. Responsibilities and basis of report As the charity Iruslees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1'lh8 Act'l. l pOrt in respect of my examination of the Trust's accounts carried out under Sedion 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Act. Independent examiner's statemènt sin your charrty's gross income exceeded £250,000 your examiner must be a member ol a listed body. I can confirm that l am qualrfied to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies I have completed my examination I confirm that no material matters have come to my 2ttenlion in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act", or 2. the aceounls do not accord wrth those records.. or 3. the accounts do not comply wl£h the applicable requirements concerning the form and content of accounts sel out in the Charities (Accoullls and Reports) Regulations 2008 other than any fequiremenl Ihal 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 mallers in connection with the examination lo which allenlion should be drawn in this rèport in order lo enable a proper understanding of the awounls to be reached G Chalet The Inslilule ol Chartered Accounlanls in England and Wales Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY Date 9 Septetnber 2024 io
FINCHLEY FOODBANK STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 29 SEPTEMBER 2022 TO 31 DECEMBER 2023 Unrestricted ftJnd5 Notes INCOME AND ENDOWMENTS FROM Donations and legacies 305,540 Investment income 2,654 Total 308,194 EXPENDITURE ON Charitable activities 257,419 NET INCOME 50.775 RECONCILIATION OF FUNDS Totsl funds brought forward Prior year justMent 63,728 TOTAL FUNDS CARRIED FORWARD 114,503 The notes fom part of these financial statements li
FINCHLEY FOODBANK BALANCE SHEET AS A T31 DECEMBER 2023 Unrestricted funds Notes CURRENT ASSETS Stocks 3,230 Cash at bank 116,073 TOTAL CURRENT ASSETS 119,303 Creditors.. Amounts falling due within one year 4,800 NET CURRENT ASSETS 114.503 TOTAL ASSETS LESS CURRENT UABILITIES 114,503 FUNDS Unrestricted funds 114.503 TOTAL FUNDS 114.503 The financial statements were approved by the Trustees and authorised for issue on 8 Septemebr 2024 Dipo Oyewole Dipo Oyewole Chair of Trustees Helen Doran Treasurer The notes fomi part of these financial slalemenls 12
FINCHLEY FOODBANK NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 29 SEPTEMBER 2022 TO 31 DECEMBER 2023 1 ACCOUNTING POLICIES Basls of preparlng the flnancial statements The financial stslements of the Charity, which is a public benefrt entty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102}'Ac¢ounting and Reporting by Charities". Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191., Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalemenls have been prepared under the historical cost convention. Income All income is recognised in the Slalemenl of Financial Activicie5 once the Charity has enlillemenl to the funds, il is probable that the income will be r1Ved and the amount can be measured reliably. Expenditure Liabilities are recognised as expendrture as soon as there is a legal or conslrudive obligation committing the Charity lo that expenditure, il 15 probable that a transfer of economic benefils will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direcily attributed lo particular headings, they have been allocated lo activities on a basis consistent with the use of resources. Stocks Stocks are valued al the sower of cost and nel realisable value, after making due allowan for obsolete and slow-moving items. Taxation The Charity is exempt from lax on its charitable aclivilEs. Fund accountlng Unreslricled funds can be used in accordance with the charitable objectives al the discretion of the Iruslees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Reslriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the natu and purpose of each fund is included in the notes lo the financial statements. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include Cash in hand, deposits held al rall with banks, other short-lerm liquid investments with original maturities of three months or less. and bank overdrafts. The Charity does not have a bank overdraft facility. 13
FINCHLEY FOODBANK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD 29 SEPTEMBER 2022 TO 31 DECEMBER 2023 2 ANALYSIS OF INCOME Unrestricted funds Period ending 31 Dec 2023 Donations in money Donated goods received Gift Aid De osit account interest Total 147,538 153,70L7 4.3D2 2.654 308,194 3 CHARITABLE ACTIVITIES EXPENDITURE Unrestricted funds Period ending 31 Dec 2023 Bank charges Citizens Advi Bamel advisor Donated goods distributed Food and toiletries General administrative expenses Hol water bottles Independent examinerfs fee Insurance Licence to occupy the hall Phone costs Printing and stationery Waste bin Winter wami Total 60 3.693 150,470 52.548 875 1,200 1,800 158 8,000 109 572 703 5,973 226 161 acks Staff costs Unrastricted funds Period ending 31 Dec 2023 Wages and salaries Inumber of staff.. 21 Social securi costs Total 31,258 TOTAL CHARITABLE ACTIVITIES EXPENDITURE 257419 Finchley Foodbank is not an employer. The Foodbank Manager who was employed for the full accounting period is employed by Weslminsler RC Diocese Trust IWRCDTI. Salary costs a invoiced lo the Charity on a monthly basis. The Foodbank Assistant Commen working on 11 April 2023 and is employed by Churchill Knight Umbrella Ltd. Salary Costs are invoiced lo the Charity on a monthly basis. Finchley Foodbank is extremely grateful to WRCDT and Churchill Knight Umbrella Ltd for providing these services wilhoul any service fee. 14
FINCHLEY FOODBANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 29 SEPTEMBER 2022 TO 31 DECEMBER 2023 4 PRIOR YEARADJUSTMENT Prior year adjustment of £63,727.87 is net reserves in¢ludod in the Charity's reserves relating to the period before the Charty became independent of Westminster RC DI0Se Trust IVVRCDTI. S STOCKS stks £3,230 The estimated value of stock is based on one week's Supp of non-perishable goods. 6 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals £4,800 7 MOVEMENT IN FUNDS Prior Net Year movement adjustmgnt In funds At 31.12.2023 Unrestrfcted funds General fund TOTAL FUNDS 50.775 114503 114503 Net movement in funds, included in the above a as follows.. Incoming resources Resources expgnded Movement In funds Unrestricted funds General fund TOTAL FUNDS 308,194 308,194 257,419 257419 50,775 8 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees. remuneration or other beneff(s for the period ended 31 Dember 2023. Trustoes. expenses The were no trustees. expenses paid for the period ended 31 December 2023. 9 RELATED PARTY DISCLOSURES For nearty 10 years, from February 2013 to September 2022, the foodbank operated free of charge in the hall belonging lo St Mary's RC Church. During the 15-month accounting period, £8,000 was payable lo St Mary's RC Church to cover ulilty and other running costs. In February 2024, the Charity entered into a Licence to Occupy agreement with WRCDT for a fee of £773.50 per month, effective from September 2023. Fr. Peter Scott, 8 trustee and parish priest al St Mary's, is employed by WRCDT bul recused himself from negotiations on the lince fee and does not personally benefit from any payment5. 15