Annual Report and Financial Statements For the Year Ended 31 March 2026 Charity Number: 1202878 1 **Annual Report of the Board of Trustees** |Chair’s introducton|3| |---|---| |Report of the Trustees|6| |Independent Examiner’s report|11| |Statement of Financial Actvites|12| |Balance Sheet|13| |Notes to the Accounts|14| |Reference and Administratve Details of the Charity|19| 2 ## **Chair’s introduction** There is a relentless kind of optimism required to run a food charity in Britain today. The need, sadly, has never been greater. The work has never felt more urgent. And yet the people who do it — the food bank — managers, the volunteers, the community hub leaders, the donors show a commitment that is nothing short of remarkable. It is our charity’s privilege to support their impact and to amplify their efforts. The backdrop to the third Shop & Drop Annual Report of the Board of Trustees, for the year ending 31 March 2026 remains sobering. More than 9 million Britons now rely on food banks. A quarter of all Londoners live in poverty. In 2010, the Trussell Trust operated 35 food banks across the UK. By 2025 that — number had grown to 1,711 and when independently run food banks are included, there are now more than 2,500 food bank outlets across the country. That exceeds the number of McDonald’s. Shop & Drop’s model remains simple and powerful. We contact the food bank managers we support, ask them to tell us exactly what they urgently need, and then we _**shop and drop**_ those items for immediate distribution to their clients. No guesswork. No waste. No surplus items that need to be consumed before — they expire. Just exactly what is needed, when it is needed delivered with ‘the precision and efficiency of modern online retail’, according to Andrew Potter, former strategic adviser to the UN World Food Programme, in a filmed interview for Shop & Drop in July 2025. ## **Our impact** In the year to 31 March 2026, Shop & Drop delivered over 107,000 essential items across our five London food banks, spending £99,499 in total. Since our founding, we have now shopped and dropped over 220,000 essential items in total. This growth has been made possible by the shopping guile of our team of five fully trained shoppers, one dedicated to each of the five London boroughs we serve - Camden, Islington, Kensington and Chelsea, Lambeth and Hackney. Our volunteers compete to stretch every penny of the donations we receive. These are not anonymous transactions. They are inspired by relationships built on trust and a deep understanding of what each food bank needs and how we can be of greatest help. ## **The difference we make** Nothing captures our impact better than the voices of the people we work with. _“The commitment from Shop & Drop goes beyond simply providing food and toiletry items. Shop & Drop plays a vital role in strengthening our ability to serve the community. The consistency, care and dedication you show make a real difference, helping us respond to the increasing demand and ensuring no one is left without support during this difficult time.”_ **Alice Achola-Omara, Vauxhall Gardens Community Centre** _“Shop & Drop has given us the opportunity to offer fresh food for the first time. We can now give all our clients eggs, chicken, cheese, bread and fruit. Receiving fresh, familiar foods enables individuals and families to prepare proper meals at home, rather than just ‘getting by’_ 3 _on tinned or processed goods. Your support doesn’t just fill our fridge and shelves. It helps us provide healthier food, maintain dignity, operate more effectively, and serve our community with greater care and respect.”_ ## **Abiodun Odujoko, Camden Foodbank, Trussell** _“Having access to in-date products has made a significant difference. It allows us to provide food with a longer shelf life, rather than relying solely on surplus items that need to be distributed and consumed immediately. This has strengthened our ability to offer more consistent, nourishing support and to reach more families in need.”_ **Petagay Powell, Children with Voices, Hackney Community Food Hub Manager** ## **Fundraising and our growing Collective** Fundraising remains a core priority. We are fortunate that many of our supporters have been willing and generous enough to host Shop & Drop Friends’ Evenings. These have helped to grow the number and quality of our Collective in each of the boroughs in which we operate. Corporates, too, have shown their support for their local communities. The impact we have in Vauxhall is in large part because of the magnificent support of Citywire. The owners of The Cross in Notting Hill have been hugely supportive, too. We are grateful to our other funders: the Wates Foundation, The Scolt Head, the Getty Foundation, and All Aboard. _We are 100% volunteer-led and staffed, with negligible overheads. Every pound donated goes directly towards buying essential food. Our impact continues to grow._ ## **Looking ahead** By the end of next financial year we hope to be supporting up to seven food banks for a cost of approximately £150,000 - around £500 per weekly shop per food bank. Every pound is spent directly on food. Regular, committed giving is the lifeblood of what we do: it gives our food banks the certainty they need to plan, and it gives their clients the consistency they deserve. For every monthly gift, multi-year pledge, or introduction to a trust or foundation that might wish to support our work, we are enormously grateful to each individual, trust and foundation that has supported us this year. I am deeply grateful, as always, to my fellow trustees: to our co-founder and Head of Development, Alison Lurie, whose energy, ingenuity and willingness to pick up the phone continues to drive us forward; to our Treasurer, Jo Hunter O.B.E., whose rigorous governance ensures we remain in robust financial health; and to Rosemary Ashworth, whose work developing our relationships with trusts and foundations is opening new doors for the organisation. Together, they bring Shop & Drop experience, credibility, tenacity and heart. Like Attracta Roden, who manages the Copenhagen St food bank in Islington, we recognise that every person who needs the services of a food bank is more than a somebody. 4 _“I look at them and think they are somebody’s children, somebody’s parents, somebody’s grandparents. It’s shocking they can’t afford to eat.”_ **Attracta Roden, Food Bank Manager, Copenhagen Street, Islington** We dream of a day when our bespoke service will not be needed. Until then, Shop & Drop will not stop. Because it is desperately needed. And because it works. ____________________ Rosie Hytner Chair 5 ## **Annual Report of the Board of Trustees for the year ending 31 March 2026** The trustees, present their annual report together with the accounts of Shop & Drop for the year ended 31 March 2026. The accounts have been prepared in accordance with the accounting policies set out on pages 14 to 18 and comply with the charity’s governing constitution, applicable laws, and the requirements of Statement of Recommended Practice on ‘Accounting and Reporting by Charities’ issued in 2019. ## **Objectives and activities** The charity’s objects are the relief of those in need by way of financial hardship and other disadvantage through the supply of essential provision to food banks. Shop & Drop offers bespoke shopping for essential, basic, nutritious food items needed at short notice by food banks to supplement their food supplies and fill their empty shelves. We contact the food bank managers, ask for a list of the four hundred items they most urgently need and then we _shop and drop_ them off, so that they can be distributed immediately. Shop & Drop’s simple and distinct contribution has proven to add real value to those in need and, critically, to the food banks serving them. Shopping ourselves and dropping at scale lifts some of the heavy burden off the shoulders of our food banks and their volunteers. ## **2. Achievements and performance** - In the year we have shopped and dropped over 107,000 specifically requested, essential and nutritious items. - We have continued to support food banks in the boroughs of Camden (The Camden Foodbank), Islington (The ARC Islington) and Kensington and Chelsea (The Kensington and Chelsea Foodbank) with weekly food drops. - We have increased deliveries to our Food Bank in Lambeth (Vauxhall Food Bank) - We have added a new Food Bank in Hackney (Children with Voices Food Hub) - Undertaken 507 drops of food. - Increased the number of volunteers who spent 254 hours shopping and dropping. - Continued to develop a proof of impact - Andrew Potter, former Supply Chain Lead for the UN World Food Programme undertook a pro bono study on Shop & Drops’ impact which confirmed that our bespoke model scores highly on fit to the beneficiary need and low on operational complexity for all our chosen food banks. - We continue to build strong, trusting relationships with all of our food bank managers, visiting regularly, as well as volunteering. We have a very detailed understanding of how they work and of how we can be of greatest help to them. 6 ANNUAL IMPACT REPORT KEY FIGURES WE LISTEN WE SHOP WE DROP IY•1 254 107.284 1,400 VOLUNTEER HOURS ITEMS DISTRIBUTED MOUTHS FED WEEKLY GROWTH HIGHLIGHTS +25/0 +33% +23% IN ITEMS DISTRIBUTED IN VOLUNTEER HOURS IN FUNDS RAISED SPENT DIRECTLY ON FOOD **Financial review** Shop & Drop delivered a **net surplus of £44,298** (2025: £25,482), maintaining a positive financial position and continuing to grow reserves. Total funds increased to **£144,238** , reflecting successful fundraising and prudent cost control. Cash balances remain strong at **£145,492** (2025: £98,252), with minimal liabilities of **£1,255** , indicating excellent liquidity and low financial risk. Total income for the year was **£147,094 (** 2025: £113,348), derived from donations from a variety of sources. Trusts and Foundations £51,500 (35% total income), monthly donations £27,175 (18% total income) annual donations £22,500 (15% total income), Corporate donations £11,600 (8% total income) the balance made up from individual donations. Expenditure totalled **£102,796** , (2025: £87,866) with the majority spent on charitable activities. Over 107,000 items were delivered to food banks during the year, an increase of 25%, for a cost of £99,667. There were no rent or salary costs and minimal overhead costs. Governance and fundraising costs were £5,115 (£3,075 in 2024). Total reserves at year-end were **£144,237** , comprising: - Unrestricted free funds: £78,112 - Designated funds for scaling up operations and for funding the Hackney food bank: £48,626 - Restricted funds: £17,500 The level of unrestricted free reserves is in line with current policy of six to nine months of forecast expenditure. ## **Investment policy** The trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have operated a policy of keeping available funds in interest-bearing deposit accounts. ## **Reserves policy** The trustees have considered the requirement for free reserves, i.e. those unrestricted funds not designated for a specific purpose or otherwise committed. It has been determined that, given the nature of the charity’s work, the level of free reserves should be equivalent to six to nine months of annual expenditure. This allows for future growth and provides sufficient flexibility to cover any temporary shortfall in incoming resources and will allow the charity to cope and respond immediately to a reasonable range of unforeseen adverse circumstances prior to specific remedial plans being implemented. General unrestricted funds of £78,112 as at 31 March 2026 (2025: £57,814), represents approximately six months of forecast annual expenditure and are therefore within the charity’s policy. ## **Structure, governance and management** ## **Governance** Shop & Drop and its trustees are bound by its Constitution dated 8 March 2023. The names of the trustees who served during the year are set out in the reference and administrative information on page 19. 8 ## **Recruitment and appointment of new trustees** Reviews are undertaken to assess the skills of the current trustees and identify any areas for strengthening. New trustees are appointed by the existing trustees. ## **Induction and training of new trustees** New trustees are provided with an induction to familiarise themselves with the charity and the not for profit sector. They are briefed on their responsibilities by the existing trustees. New trustees are also referred to the Charity Commission’s guide ‘The Essential Trustee’. ## **Organisational structure and decision making** The trustees review and approve all policies and follow a strategy set in September 2023 which is updated annually, the last update was February 2026. The trustees meet quarterly throughout the year. ## **Trustee remuneration and conflict of interest** All trustees give their time freely and no trustee remuneration was paid in the year and no expenses were claimed by them. Trustees are required to disclose all relevant interests in accordance with the charity’s Conflict of Interest Policy and withdraw from any decisions where a conflict of interest may arise. No disclosures have been made by the trustees since the charity was constituted. ## **Management** The charity does not have any paid employees and all fundraising and administrative work is currently undertaken by the trustees. ## **Risk management** The Board of Trustees regularly reviews and assesses risks faced by the charity. ## **Policies** Policies for all relevant areas, as determined by the Board of Trustees, are maintained. ## **Public benefit** The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefits when reviewing our aims and objectives and in planning our future activities. ## **Plans for the future** In the next year, we hope to pilot a new food bank in Tower Hamlets with funds secured from Awards for All together with an additional food bank in Islington, bringing the total food banks to seven. Target income to raise is approximately £150,000 to fund seven food banks by the end of the year. There is a robust fundraising plan in place with committed funds of £40,000 and £45,000 in reserves to support Hackney, Tower Hamlets and a matched funding for scaling up. This report was approved by the Board on 27 May 2026 and signed on its behalf by: _________________________ ____________________ Rosemary Hytner Joanna Hunter OBE Chair Trustee 9 ## **Trustees’ responsibilities statement** 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these 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 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 report was approved by the trustees of the charity on 27 May 2026 and signed on its behalf by: _________________________ Rosemary Hytner Chair ____________________ Joanna Hunter OBE Trustee 10 **Independent examiner’s report to the Trustees of Shop & Drop** I report to the charity trustees on my examination of the accounts of Shop & Drop, Charity Number 1202878, for the period ended 31 March 2026 which are set out on pages 12 to 18. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. Signed_____________________________________ Date: 29 May 2026 Jacqui Williams FCA FLB Audit LLP 1010 Eskdale Rd Winnersh Triangle Wokingham RG41 5TS 11 ## **Shop & Drop Accounts for Year Ended 31 March 2026 Registered Charity Number 1202878 Statement of Financial Activities** 12 ## **Registered Charity Number 1202878 Balance Sheet as at 31 March 2026** The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2026 and were signed on its behalf by: _________________________ Rosemary Hytner Chair ____________________ Joanna Hunter OBE Trustee 13 **Notes to the Accounts For the Year ended 31 March 2026** ## **Shop & Drop** ## **1. Accounting Policies** ## **Charity Information** Shop & Drop is a Charitable Incorporated Organisation (CIO). It was registered as a UK charity with the Charity Commission of England and Wales on 28 April 2023 under number 1202878 and is governed by its constitution dated 8 March 2023. The charity’s principal office address is 12 Parsifal Road, NW6 1UH. ## **Basis of Accounting** The financial statements have been prepared in accordance with the charity’s governing document, 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) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Shop & Drop meets the definition of a public benefit entity under FRS 102. Assets and liabilities recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Fund Accounting** General Funds are unrestricted funds available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for specific purposes. Designated Funds are unrestricted funds which have been set up by the trustees to hold funds for specific purposes. The aim and use of the designated fund is set out in the notes to the accounts. Restricted Funds are funds which are to be used in accordance with specific restrictions imposed by the donors. The aim and use of the restricted fund is set out in the notes to the accounts. Income and expenditure is allocated to the Funds on a direct or time apportioned basis as appropriate. ## **Income** Income is included in the period in which the charity becomes entitled to the resources, the trustees have sufficient certainty that they will receive the resources, and the monetary value can be measured with sufficient reliability. 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 is recognised at the time of the donation. 14 ## **Expenditure** Expenditure is included in the statement of financial activities when incurred and includes attributable VAT which cannot be recovered. All expenditure is allocated to the particular activity where the cost relates directly to that activity. ## **Investment Income** This is included in the accounts when receivable. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. ## **Creditors** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## **Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **Cash at cash equivalents** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Taxation** The charity is a registered charity and is therefore exempt from taxation. 15 |**4. Debtors**
Accrued Income
**5. Cash and Cash Equivalents**
Cash at bank
**6. Creditors: amounts falling due within one year**
Accruals|**2026**
£0
**2026**
£145,492
**2026**
£1,255|**2025**
£3,093
**2025**
£98,252| |---|---|---| |||**2025**
£1,405| 16 ## **7. Funds of the charity** ## **Purpose and restrictions** |**Type of Fund**|**Name**|**Purpose**| |---|---|---| |Designated Fund|Hollick Family Foundaton|Funds to scale up Financial Year 2025| |Designated Fund|Scale up|Funds to scale up Financial Year 2026, 2027| |Designated Fund|J Paul Gety Jr Charitable
Trust|Funds designated for a Hackney Food Bank| |Restricted Fund|Citywire|Funds restricted for Vauxhall Food Bank| |Restricted Fund|Peggy Post|Funds restricted for toiletries for the Kensington & Chelsea
Food Bank| |Restricted Fund|All Aboard|Funds restricted for a Hackney Food Bank pilot| |Restricted Fund|Awards for All|Funds restricted to part fund anew Food Bank in Tower
Hamlets| |Restricted Fund|Kensington & Chelsea
District Nursing Trust|Funds restricted for the Kensington & Chelsea Food Bank| |Restricted Fund|The Scolt Head|Funds restricted for the Hackney Food Bank| ## **Analysis of Net Assets Between funds** 17 ## **8. Related Parties** During the period the charity received donations of £6,960 (2025: £6,310) from trustees and related parties of the charity, there were no other related transactions in the year. 18 |**Reference and administratve**|**informaton**| |---|---| |**Registered name**|Shop & Drop| |**Charity registraton number**|1202878| |**Corporate status**|Charitable Incorporated Organisaton| |**Registered ofce**|12 Parsifal Road, NW6 1UH| |**Website**|www.shopanddrop.org.uk| |**Current Trustees**|Rosemary Hytner (Chair)| ||Joanna Hunter (Honorary Treasurer)| ||Alison Lurie| ||Rosemary Ashworth| |**Independent Examiner**|FLB Audit LLP| ||1010 Eskdale Rd| ||Winnersh Triangle| ||Wokingham| ||RG41 5TS| |**Bankers**|Royal Bank of Scotland| ||36 St Andrews Square| ||Edinburgh| ||EH2 2YB| 19 Digitally signed by SuiteFiles Document Signing Reason: Signature requestedLocation: User IP : 172.167.181.30 Date: 2026.06.09 15:29:50 SuiteFiles Document Signing