JSHOP&DROP Rew#ered No.. 1202878 Annual flewrtand FSnanthalStatements Forthe perfod ended 31 March 2024 Aft1￿11 ofth•aoard ofTr¥th45 Chalrfs Intrn¢hxtknn ReportoftheTnMlees IndepqndertE¥•rnln•rfi r•ptsrt Nolu 10 the Rth*n¢e •nd Admlnlstr411%*DetaShofthe •4 th1￿4 Inwodudlon ItBi¥es me 8reat pleasure to present the first Shty & Drop knnual rieport of the 8oafd of TTUSteEs. f¢rthtele¥erNDonth peiiodendlng31 Marth 2024. VArywe5t•rted Shop &Drop Aell3nc@on food banks haslncreased by13S% 51ncE2017. And. sat*y. the demand forthem 5how5 no of goln8 down. Yet fwd banw shelves are often ernpty of the very Itern5 that ptoplè mo# urg￿tIVnee4 and want.Th3t Is why we pllDtedthe idea of Shtrp & Drop Inthe Autbmn of 2022wthen the c05rof li￿n{ cri515 W3Satlt5 PEak wth pritesof basics soaring in the shop5. The pilot Was SDwell rectyved by thè mana8ers of food banksthat we rel5tered 3$ è th￿ty In Awl 2023, to developand exp3ndthe ￿te. Shop &DropofFers bespokeshoppln8fLsres5ential.basK, nutfitlQV5food &twns nèeded atshortnotlce by food bank5 to 5uppIEment their food supplie$ and fill thelr empty She￿e5. We contètt the food bank managers ask for a of the four hw(ked thm5 they mort ￿ryent￿ nttd and then we onddrnpihern off. sothèttheytan ￿ dlstribuied Immodlatdy. Vlhered•esSW &Dropoprat*? The charltycurrently OPErate5 in three are•s ￿ Londix).. Camden, NotElng Hill, and I51Sngton. Tod*e, Incl￿din8 our plkjt, we have shopped and dropped 0￿r 30.QJ) essentials includin& Items SLKh as tianed tom*oEs, tuna. tsreal, milk, pasty sauce, rfce. tlnned fwit, and VeBetsb￿$. we also rtttive ffequeni request5 fortoll* yper, ￿nItOry produtt5. deodorants, tDDthpaste, and 5harnpoo Imanythlldren, we dlsco¥ered, are currendy ha￿nIt0 ￿$h thelrhalr¥th washlnivp Vqukll. Whykn Shop & Drop¥o elleEtsv•7 H3vln8 Identlfted a food bank and undertaken ¢JL*diligenceto ensure theyare efflclent effective and their artiwt*5 mat¢h ouroblectlves, we sl8n a Memordndum of Under5tBndin8 with them tD ensure all the food we provide isputtogood use. WEère in regular. d1rectc0ntsct￿th the f¢￿d ￿ThIS. and we are able to react qvickly and effidently to P￿de them with ex¥dy what they need when they nRed It. Wh•th the IN￿[De￿n￿¥￿eIP The th3rW opÈratÈs a hl8hl¥ efnclent and effeCt￿e econ￿￿1( rntyJ￿. We are entIre￿ volunreer led, th no 5al?ry or rent to pay. so donors tsn rest assured ihat their rnofiey 8oe5 dlTetti¥ on buying essential and lluifititiusfood to feed huniry people. 5ki1frJ thoppiniwth an online p￿der, means that any money we recefvE ￿ 5tretthed a5*aras p0￿ble. Wh•t dothefood b•n*1￿y￿bo￿1¥￿r4WVI¢I? HowShop& Dmp helpus.. - Fromour511@ysdelNeiies ondfcoddonotlons, Werarelyreceiveenoug*J￿gft0ts1e$ ondfrvitfvour hoJ5ehold5. Shop & Drop En&bles us tts meetour commltment to qlve everytsJv5eholtlo nutritlonollyb414n¢edfvodboxwkh IGrgerportlon5 offfeshlruit ond veoeiobles. - Mw)yoAovrdlentsiike qultechootkllw*s onG150 weaim to deli¥rroreqylgr. yYli&ble, ondcon51stent seNknfvrthem. 7h151ncludes the/oodtheyrecekeln thel1v￿￿kIyb0xes. We wontthEm toknowthry *414 wlll olwuy5 gclfresh]ruit veoetoNe* ￿￿0￿, sotjrces Df proteift ond stcre-cupboord5tople5 like rl¢e ondpasto. Shop & Drop55eThke meons con olww dellbtron th￿ topplng upln these0rn75 when we¢yrttynnino low. - 8ecLwe of the loryeordeff size$5hop & Drop oAer4 we ore able to glve oll Df owcllent5 the 501Fie /oodtwrotherthoncomFrornts1ngcnfolrnessondcb0051nqwhowillbethelJovesondhove￿otseath We a￿ passionate abDutthe se￿CeWe provlde because WE knLW hLwwell itwth$8nd much It Issodesper4ietyneeded. I hopEyQU enloyreadln8thlS report. osernary Hytner Chair Anfiwl Repxt ofthe Bo•rd olTruJtttJlorthE￿r*￿dkn131 M•r¢h 20Z4 The trustees, present thelr annual repDrt together with the acwunts ol Shw & Cyop forthe period ended 31 March 2024. The accounts ha¥e been yepared In accordance¥Ath the ￿u￿tIng￿￿1¢les setout on pa8e$9to 14 and comply the £harW5 ￿￿rnIng topstitutK)n. 3pplitaNe laws, and th2 requirements of ststementof RÈuffimended Practlceon'Accountln8 and Repo￿￿8 by Cha￿1￿￿$, Issued In 2019. ObJerthfftsiThlacthJtle5 Followlnsa sutte55ful six-month plbL Shop & Dropwasre84stered as a tharftyon 28April 2023. The charivs obiEcts are the of those kn need by way of financlal hardship and other disadvanta8e throu8hthe supply ofe5sentlal pro¥151on tofood b3nk5. Shop & DropoffÈrsbespokeshopplngfore55enUal, basic, nutritiousfood Itemsneeded aishort nofjce by bank5 tv 5upk4ement their fDOrt 5upplles and fill thelr empty shelves. We ￿￿taCt the f¢¢ bank mana8ws, ask for a115t of the four hundred Item5 they nk)st uryentty need and then we shop on¢l¢lTop them ¢fF, 50 thattheycan be dlstrlbuted Immodlatoly. Shop & Drcp's slmple and di*inrt contrSbutloD ha5 proven to re* Val￿ to those In ne￿ and, critic8lly.to the food banks servingthern. Shopplnl ourselves and dropping at Scale lifts some of th¢ he3￿b￿rden ofFthe shouklersof ourfood banksand thdrvolunteers. Z. ￿￿1•¥eMEntS￿￿é perfornHnre o In Otto￿rIO22we launched aShop& Drop pilot tD e5tsblith the need forthe servlce Followifi8the5uccessof thepllDL In Aprll 2023wè becarne a reBlstered charfty. 5hpppin4ond dmpplng spetifically requested ￿ern5 of food to Camden rrhe Carnden Foodbankl and Islington (The ARC I￿1￿810n1 food bank5 monthly. In july 2023 we added a third food bank. The KEnsinoon amd Chd5ea Foodbanl to recei¥e our bespoke Shop & Drop sèrvlce. o In NO￿Mber2D23we douèled thefrequEncyof our dropsfroffl rnONhlyto fortnl8htly. In March 2024wÈbe8•n deliverin8threetimes per rnDnth to eachfood bank. we'Ved￿￿ered over 30,(We5seDtlal Item5. 311 thtssen by Durfood bank rnana8ers. we've built ttron& trustin8 ￿latIonShIpS wlth all three of ourloDd bank managers, ¥lsltin8 lularfy, as well as ¥olunteering. We have a very detsiled understanding ol how they work andof howwe tan be of 8roatÈst help tothem. Fln•nLlo1 Incomefortheeleven-rnonth perfod to31 March 2024was£93,963. 53%ofth15 Inccme￿s recéi¥ed In the final quarter. Th15 Included a grant Df £36,(￿0 Irom the Hdllck Famlly Foundation received i march2024toscaleupattfvilleslnthecomin8llnandalyear,thisha5beEn placed in de5ignatedfunds. Are5t￿ctEd donation was rece￿ed dvrtn8 theyearof E6.1￿ to fund tolletrfe5 In NottiniHIII. leaving £51,963 of unrestricted free Income. Expendlture on chartsbk att￿ltIes, dellvery of fow)d and tDilthes tofood banks, w•$ £16,430, 84% of the total expeTrditure of £19505. Governan￿ and fundrals4n8COStswere E3,075. There were no Dtorsalarycostsond mlnlrnal overhead costs. IIY•*SlW pc41cy The trLP5ree5. hawng re￿r￿ttsthe liquidty reqvlrements of operatln8the charfty and to the reset¥es poliry. haveoperated a pollcyof keepln6 ava51a￿e fund5 in intereM*e3rin8 dEpDsi¢ aciounts. R*seNes polk¥ The truAee5 havE CQll5idered the rp4uireffjent for free reserves, l.e.th05e unre5trfcted fund5 not desWnated for a speclflc purpose or Other￿sE comrnfftEd. It has been detemilned that, 8lven the nature of the charivswori the ￿Ve1 of free re$efve5 Shou￿ be equlvaleni to Six to nine tDDDth5 of annual expÈndirure. Thls allow5 for future growth and proviLle5 surfi¢*nt flei1bl￿ty to cover anv ternporary5hortfèll in In¢tsmingresour¢esand wlll allowthecharltyto copeand respond iivmediate to a reasonable range of unforeseen adverse clriumstanc¢s prior to specific remedlal plans beln8 irnplemented. GeDetèl unrettritted fvndscf E34,075 asat31 March 2024. represents appr0￿Mate ei¥ht months of foreca5t?hnu&l expenditti￿ and arethereforewlthin the thari￿5 policy. StruCturE*￿aN¢t•￿O m•n•8•m•nt Gov•rnanre Shop & Drop and Its trusiees are bDund b¥ Its Con5titutlon dated 8 Marth 2023. The namès of the trustees who 5er¥ed during the year are set vut in the reference and adrnIn15trati￿ inforrnauon on pale 15. R•uultmtntand 4ppoIDtment of nwwtrpjst Reviews are undertaken to assess the skllls of the current trusteES and ideftfjfy any areas for stren8thenlng. Newiru5tee5are appDIDted bythe exisiiil8truttees. tr4ln1ni0l￿W￿tfiths Newtru5teesare prowded wlth an Induttion tofarnllSarisethem5efvE5wf(h the rharityaftdthe Mtfor proflt settor. They ale br￿fed on theif responsibllities bythÈexiStln8 trustees. New tru5tee5 are4130 refe[￿dtOthe Chadty Comml$$lon's Sts￿e EssentialTruttee'. 1kn4nls*tlonal st¥￿tur* and d4clslonmakl Thetrusteesreviewand approve all polldes, andfollow3strate8yset InSeptember20Z3.Thetrustees meet quartertylhrou8houttheyeJrand ha￿ an annual ses5iOAto update8nd revL%e the stratey. Trustee remunwatlm and corkfllct ol Interest All trustees 8S¥e their tlrne freely ant* no trustee rÉrnuner•tion was paSd the year and no expenses were claimed by them. Trustees are required to disclose all relevant interests in accordance with the chartvs Conflitt of Interest Pclicy and withdraw from any decWons where a confiict of interest may arp5E. No disdDsures hève been made by the trustees ￿nce the charity w35 constituted. MaTraiwn•nt The charsty doe5 not have any poid employees and all lundralsln8 and admlnlstratfve work is currently undertaken bythe tru5tee5. RL%k manayrnent The Bo¥rd Df TTUStees r￿￿tW$and as5e55e5 ri5ksfaced bythe chaiity. poll¢l Polldes forall ￿le￿llt areas, asdÈtèrmined bythe Joard of Truttees, are malntalned. PU￿1< bEnefiE The trustees have refèrrèd to the 8uldance cortalned In the Charlty ComrnlSSlOn'S Reher•l 8uidance on public benEfrtswben revIe￿￿ our alms and obj•cu￿$and In ￿annIng0urfuturEactl￿I￿es. Phn5fwth?luture In the nextyear, we ￿11 confjnue our alrn totakeshop & Oropto new are¥5 In London and Increase dell¥erles to our currentfood bank5. We aimto develop fvrthertoolsto ￿aSurethe Impaa ofoUr5eN1￿ In each pather10L￿ bankand ensure Shop & OropoblectNes are beln8met. ThisreportV44$ approved bythe 8oardon 30Aprtl 2024 and siqned on Its behalf bv.. RoswM8ry Hytner IDanna Hunter Trurtee Twustees. respryMIWlllhsrt4t•m*rt The trv5teÈ5 are responsIb￿ for Fxepadn8 thÈ Tnste0￿ Report and the Flnandal Ststements In accordantt wlth the un￿ed Kin8dDm AtrOUntln8 5tsndards (Unthd Kln8dom Generally AcceptEd AccDUDtin&Pvatticel. The law appliCa￿e totharityes requlres rhEtrusteesto proparennancialstatemEntsforeèth financlal >*ar, Vlhlth glve a true and falr vlew of the State of afFairs uf the charirable ￿panY and Df the Intornln8 rE50urces and appllcatyon of resDurces, kncludln8 the knELvne and Expenditure. of the ￿ar￿a￿deCompanYforth￿t perfod. In preparingtheseflntnckgl #atements, thetrustoes arerequlred selett5￿1ab1e accountlnl policies andthen app￿ them cOn51stent￿.' observe the method5 and prfnciple5 Ill the Charfties SORP 2019 IFKS 1021., makeiudgernent5ané E51imatesthat are ieasonable and prudent.. state wheiher applICab￿ UK Accounting Standèrds have been follDwed, sublert to any material departuresdisclDsed and explalned In the flnancSal 5tatements', wepare the Ilnancial statements on the 8DIDg ¢oniern basi% unless ￿ is InapproprLite to presumethit the tharitable company ¥AII contlnue in operation. The trustees vre responslble for keepln8 adeguate accountlng fecvrds thatdi5close reawable accurary at anytimetheflnanc4al po%tioD of thEtharitable company and enablethern to ensure that the financlal stateynents cornpty wlth the Companle5 Att 2(￿. They are also respon￿ble for 5afe8uardin8 the assets of the charirable company and hence for taklnB fEa50nable Meps for the preventK)n and detectlon of fraud and otherirrE8u14ribes. The ropDrtwa5apwo¥ed bythetru5teesof the charityon 30Aprfl 2024 and sI8￿d on 51sb2haWby: RD5ernary Hwntr ChalT Joanna ￿Unt*￿ Tr￿e Ind•pendenteyJmlr*s remtotheTru5Tru of shop & Drop I report to the charty trustee5 OTh m¥ •yamlnatknn rf the 3tt0utrits of Shop & Drop. Chatlty Number 1202878. kn the pericd ended 31 March 2024whichare SetoUtr￿ p4es 9t0 14. s the charlty's trustees. are responsible for the preparation of the accounts in accordance w(th the requirements ofthe Charlties Art 20111.the Arfl. I report in re5pett of my exarn1naty￿ of the charitws accounts carried out Und￿ secDon 145 of the 2011 Att and in carryin8 Out my ex3mination, I have ftAlowed all the applicable Directions &ven by the Charity Commlsslon undef settion 145lSllbl ofthe IrhJepend•itex•n1rf5 Sl•fIll￿￿t I have completed my examinatlon. I confirm that no material matters have come to my attention In connethon wSth the examlnation whlth 8lwes me cause to believe that in, any m*erial respect. the accountin8 records were not kept In bccordance with Sett￿)n 130 of the Charities Act; the accounts did not accLYd wth the acC￿￿tIn8 records,. or the ac£ryJntsdid notcomplywththe applicable requirements concerningtheform and content of accounts set out in the Charities IA£counts and Reports) Regulations 2CQ8 other than any requirernentthatthe accounts give a'tsue and fairf wew which is not¥ matter considered as partof an independent examination. I hwyt ￿ ¢¢ncerns ind hève •¢r055 rrt) other ￿*tterS In connection the eijrninwtion to attention should be drawn in this report In Drdev th enable a prow undtrstsndin8 of the a¢¢9￿￿ts1O bp reached. t*te. 3June 2024 Ixquiwitlhms FfA rknakl Reid GroupCh4rteredkntrJn*ants 18a ￿￿street Maid￿￿tId eerkjhwe SI6 IEF Shop & Drop coumslortheperfod frryn 29 Aprfl 1023to31 M•rth2024 Re8i#ered Ch•rlty Number 1202878 St*tementol Flnahdll PAll¥lle5 48.y94 36.0 J6.Uth) È6.4J 36.uo Shop & Lwop Re8bttered Ch•rltyNumber 1202878 lance5heetasai >IMarth 2024 No¢¢$ CuvvertAK•ts Debtors 1,967 Cash atbankand in hand 73.391 Total current assets 75.358 Creditors.'amDuntsf¥llin8duewithin oneyear 900 74,459 Fundsofthl (hrfty Unrertr4ct￿ funds 35,275 D￿Snaledfunds RestrSctedfvnds 36,000 3,183 Total fijnds 74,458 The finJndal statements were approved by the Board dTnJstees and authorLEed for Issue on 30 WI 2024artd were4wod on Its bÈhaff by.. Ilosemary Hyther J¢anna Hunter TrusteE io 5hop• NOTESTOThE ACCOUNT5 Shop & Droplsa Charftable Incorporated Orpnkntion ICh)l. ￿WaS re￿stered asa LM charftywththe CharltyCornmi551OD o[ED￿and and Waleson 28Apdl 2023 Mdernumber 1202878and is 8overned bv its¢on$t￿Y￿0nda￿8￿arc￿2O23. ThethanV5mwpaloffioaddrets ts12Parsifhl R¢*, NW61UH. 8•$L4of Act¢NLntln8 The financlal 5tatemEnts ha* been prepared In accordance ¥Jlth the tharfws governlnB d(KumEn¢ Ac(ouDtin8 and Aeportin8 by Char￿e5. Statement of Rerommended Practice appltstle to ¢haritye$ preparfw ihelr a￿Ount5 In ￿￿ordance￿￿t￿ the Financlal RepDrtin85tandard ap￿icable In the UK Jnd Republlc of Ireland IFRS 1021 leffeth¥e l January 20191- ICharibE5 SDRP IFRS 10211, thè Flnanckl RePD￿ngstsThd3ré aprlicatylelntheUK3nd RepU￿1COf Ireland IFR5 1021 aadtheCoMpanlesk12r￿. The charfty bas tsken a￿antage ofthe Pro￿s1O￿5 IntheSC¥IP for tharibes not to prepa￿ a St#ement of Cash Flow5. shop & Lknp meets the defFnltiyn Of è publ￿ benent entity under FRS 102. A55ets and ￿?￿lItieS reco8nlsed at hworkal cost or tran5aaion Ydlue Un￿$5 otherwise st*ed In the 1É￿￿ant account1Th8 policynote G￿r4￿j￿reM Thetruttees considerthatthere are Mmatenal uncertaint￿sabouIthe chxiV$abllltyto conUnu•a5 Fund k¢ouDlln8 The General Fundls an unrestricted fund Is Milatye use at the dlscredon of the trustees I Furtherante ol the general i*ikctits of the thadty and wfvich have not bEen de541n3ted tor spEor purposes. The Oeswnated Funds are unrestricted fund5which have bten srt up by the trustees to hold fundsfor spEtth¢purpose> The aim and Lpse OrthedesWaredf￿dls s￿O￿t w the hotestotheattounts. ReSt￿tte￿ Funds are funds ¥%thlch are to be used ih accord¥n¢e with sp¢(Ifit restdctlons trnp05ed bythe donDr&ThE aiffl and u5eof the ￿$tr￿dfUrnd is setout in the note5tothearcounts. IncomEand expenditure isallotstedtotheFunds onadlrectortlrne apwtioned ba*s¥$appmprotr. ncome is InclL*led In the per￿j In whith thE charity becom* wtltled to the resources. the tA￿ee5 have5u￿laent ￿rtaI￿tythattheY￿lll reCe￿ethe resourcesandthe rnonetaryvalue can bomeasu wth SUffic￿ntre413ts41lty. Cash t*natlonsare reco8nlsed on recelpt. Otherdonthon5 are recv8nised once thetharfty has been notified of the donation unle55 performance conditions requ1￿ deferral of the arnount. Incorne tax rEwerablein rèlatlontodonatknns recebved underGIfv￿d Is recDsnlsed atthe tlrne of the donatlon. Expendlture 15 induded in the statem￿t offinandal activMeSTrJthen incurred and inLlude5attributablE VAT whlth cannot bE recovered. All exPe￿￿ure 15 allocètsd to the partthlar artmty where cost rdatesdirethytcthat3thhity. In¥e5rfflertlnrornt This islndthled kn the accwnrs%%*en re￿fvable. D•bt•rs Trdde andothErdebtorsarEre¢o8nisedattheseLYemeniamount du2afteranytrdded5COUntoffereiL Prepayments are valued atthe amountprewd net of anytrède dixounts due. Accrved irwme and taxrecoverdble151ndl￿ed atthe bestesbmateof theamcyJnrsrece]¥aNeat the balan￿ 5hEet thte. Ll?bllkne$3re reco8ntsed assoon astherelsa orco75tThjthEOtlieat￿nC0mml¢I1nqthecharftytO payout re50urce Instruments. B•sicllnantial Instrufflents3re Inbtlallyrecoznlsed attraDsathon ￿lu¢¥Thd$ybseQtserttly measured attheir 5ettlementvalue. C•5h at rath EquWts Cashatbankandcash Inhand Inthdeso5handth¢rttem)hl8htyNquhllnvestrnentswtha 5hcrtmaturty oftl￿ee rnnthswlÈ55fromthEdateofacqulsMonoropenlngof trodep05it orsmi￿r*£9l The ch3rrty15 a regtstered tharfty and Is ihoreforeexernptfiom taxatloD. 12 36 Obknr l775 1775 Ob*r 2.775 2,775 In1p￿St￿K¢me 194 51gS3 ShDpandDKyiofoo1￿fflkS Othor 1ffi17 3.792 1.6J7 E¥èntsandhAidrnl&tscc