Charity r•gistration number 1204738 (England and Wales) Company rnllbtfatlon number 14396763 FOOD AND COMMUNITY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
FOOD AND COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust••s Mr Samuel Evans Revd. Michael Rutter th Chaflotte Codina Mts Jayne Frankjin Mr6 Jlll Curtls Mr Jonathan Bennett (Appointed 25 September 2024) (Appointed 25 September 2024) Mr8 Sandra Koen8 Sa¢retary Mr Chrr4topher Nall Charty numb•r IEngl•nd 105) 1204738 Company numlmr 14396783 PvmcipAI addv•ss lthlt 11 Jlcan Road Sheffield S91EW R•glsl•r•d offt¢• 66 Cro88 Bedford Stroet Sheffield S6 38Q Audllor 118 Rlcharthon Cannon House Ruljand Road effield South York8hlre S3 8DP Bankers Uoyds Bank plc 148 Bradfield Road HIIIBboiough Sheffield S6 2BQ
FOOD AND COMMUNITY TRUST CONTENTS Ttee$. report ststement oftrustees. responsibilitse5 Independent auditors report Statement of)Inancial aCtiVe5 Balance sheet Statement of cash flov+8 10 Notes to the financwl statements
FOOD AND COMMUNITY TRUST TrUSTEES' REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 OCTOBER 2024 The tntstees we5ent thew amual repc4t and fiMn¢ial SlateM for Ihe year ended 31 October 2024. The fmancial statements have been Fyepared in a(wdance ¥%ih the accounting polbci¢s set OLrt In note 1 to the nancial statements and ¢OlY 7hith the tharity¥ MeMojrn and NAicle5 of Assouation, the Companies A¢t 2006 and 'Accounling and Reporting by Charilies.. Statem1 of Recorrrfnended Praeliee ¥•pIic8ble to charities preparing their accounts in acrdtee ith the Fmarnyal Rewkng sdard aPrcable in the UK and Republic of Ireland (FRS 1W2)" leffe(Ji¥o l Januwy 2019). obj.ectiv and aciwities The Chairty's objects are.. al The prevention and reliefof povwty the of to people crisis or need. bl The provision of addib'onal eiCeS support for the prevenkn and relief of poverty. c) The advancement of edUtiOn. including Ixrt not IrTWted to wryth,ng educatimd seNKes, faclities ?d oppOn'es for young people living in p)verty an¢Yor expenen¢ing depr[valM across England and Ktsles. d) To wonv)te and 8UPlY)rt the advancemenl of Ihe c¥tI8n fth. Main obiedi¥es for the ye Key objethes re. . to work twdrds relIe%g fd po¥ety in Sheffidd., - to ¢ontiNe and devd4) wrwt for thildren and Yg people aurfjss &)effield. Partilarty Ihrough sthocls work. The SUesS ofthis Wds princ4pa1 measLwed by: - the number of benefi¢iaries supwted by the Charity: - the number of people fed. and the totsl amtyjnt of thstrtrted. Publicbonefit The Trustees have ¢onllmied that they have rekrred to the SWIdan ¢tsined in the Chanty Comnknlon'$ gener81 guidanGe on public benefjt when reviewing the (all$ and objecbve5 and in fure actswtie5. The Trustses are aL80 Wdre of the Charity CornnY$g's guidce on publi¢ benefft in the Advaneemenl of Rekngion for Ihe Public Benefft arKI have regard to it in Iheir administralion of the Charrty. &gnftfjcant aCtIvrt and achievemts ag0b}e"v8S ThLS second pefiod of (peralion has wofved the tsansfer of its operalwTh from The Phladhia Netrffjrk Limited Ichanty no. 11349731. Som8 k8y achi8wn8rts fv the 202Y2024 wthv." . The charify distrbuted an estimated 1267 tornes of food. ewivnt to eT 56,OCrf) emwgency food parce. . The (ty suppcrted 43 people to become tlebt free aThY SWXted in ribng Off £465.0 of debt. . The tharity thrwgh rt5 Cthzen Pthice effid have WOVKled $upwt athice lo beneficiaries, resulting in inyroved access to soc¥al tsriffts. one uTants and benefts. This 15 eslimated to have resulted in £788.660 in finan(¥al gains f(¥ benefi(iaries. . The thrty FY(wided 1783 ofyth thIen5 Fundraisir?g pra¢¢es There are no specific [untrag wacti¢es w objedi¥es of the dmnty dthough in¢vhkn15 rganIsationS Vlill somettmes pass on funds rd at partiClar events. This tharity is not resPsIble for regulating the ftJndraisiThJ praclices oftse withiduals or organisatc.
FOOD AND COMMUNITY TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Financial review The Statement of Financial Adibrylies on page 8 tolal lthre8lted c•f £213,776 (2023 - £39,000) and total Restricted irKome 01 £2,127,39212023 - £40.9291. 11 als9 %hows total ihestricted expenditure of £103.455 {2023 - £2,400) and totsl Restrded eXpendIre of £1.516,367 {2023 - £3,150). Thi5 resulted in a surplu5 of £110,321 {2023 - £36,600) on Unrestriced £611.025 (2023- (£37,779) on Re51riGted funds. Unrestricted funds Ixrried foThward annt to £146,927 (2023 - £36.6D)) Restricted funds canied fmvard anwunt to £648.80412023- £37,779). Reserves policy It is the policy of the tharity that unrestiided frjnds have not been designated ts a specific use should be maintsined at a level equNalent to no less 6 week's expenditixe at least 16 weeks of the estimaled cost of food at the Foothnk in restn.cted furKls. The trustee8 coder that reser¥es * this level lm enwre that, in the event of a signiknnt thrp in fijnding. they Vill be able to conlinue the thty,$ currènt vMle consideration is Ven to ways in %%thich ad(Alional funds may be rawd. Maiorrisks The Twstees have assessed Ihe major risks to the Cthaiity is exposed. and are sisffied that $emS are in place to ffitigate exp¢)wAe to the maFx iisks. Plans forfurn pemds The d)arity fijtsjre plans are to CO to 1r Fo¢x•JanK Debt relefwld Youth aclpiities. The tharity is a rwistered thaiity and a conyany Inmted ty rantee. The Irustees. we 8180 the dred0 ts the of law, and served (Jring theyear up to the date of Slgnare of the fina4a1 statewnts ve: Mr Samuel Evans Revd. Mithael Rutter Dr Charfotte Codina Mis Jayne Frankln Mr5 Jill Curtis Mr Jonathan Bennett Mrs Sandra Keene {Apwnted 25 Seplener 2024) (Awry'nted 25 Seplerdw 2024) Membership of the wmparry is at the ¢&suetion of the Ttees. None of the trustees had any benefi(ial terest in the conwany at Ihe year end but two re¢¢i¥e a s. All ofthe Trustees are rrmber5 tyfthe ¢onwany. Induction and training OftSte6S New trustees are Erfiefed on Iheir roles and reSplslIOs, their legal Oblipb.S under charity law, the content of the conslilutim, the dA$lon nking W¢)cess and the recent financial performance of the ¢haiity. They also receive any necessary training as rewKed. Remunerknn pc4icy The pay and femuneration of the ¢hanty'$ key managenxnt perscmnel is detwnined by Ihe tJu$tees based upc the employees. experience and pay $tNcknes operatiig generally in the thanty sertor. Relationship relatedp&b'es The tharity 74vas fOrnd to take over the extstsng (vati$ of * FoOthk. Forge Ycth and much of Restore operations from The Fffiiladelphia Net4¥0rt LIed (tharty no. 1134973). The two tharities continue b) V•Y)rk together on vall0 propLs
FOOD AND COMMUNrrY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPCNRT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Auditor In accordance wilh the coThpanrf5 artkdes, a re8olulion proposw)g that 1th11s RIdrdSt be re4)pointed as au¢tor of the company 11 be put at a Gewal Meeting. Dlsclosure ol inft>mMtion to awJitr)r Each ol the trustees has cfirmed that there Y6 no inform•tion of vknich they are are vthith 18 relevant to the audil. but of vthith the auth'tor unaware. They have fvrfher confirmed that they have tsken apwopriate 8tep8 10 Idenlfy such relewdnt information to establish that the authtOT is aware of SUL M)formation. Small companies ex•mpth)n This report has been prepared in accordanGe *ilh the w0viOn5 lo conyani88 enbded to the smo11 companies exempb'on. The lJustees' report aPpred by the Board of Tru8teeB. Mr Samuel Evans Tru¥t•• 22 July 2025
FOOD AND COMMUNITY TRUST STATEMENT OF TRUSTEES, RESPONS181LITIES FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees, %tho arè also the directors of Food and CommuThty Trusl for the purpose of company law, are responsible for preparing the Trustees. Reprxt the anCIal statements in acttrfdance applicable law and United Kinglom Accounting StsrKlard8 {United Kwigdom Gerw•P4xepled knnting Lce). Companylow rewires the twstees to wepare finanaal stalements for each financial year wlyth we a true and fair ew of the stste ol affairs of the tharity of the incomiry resoLwce5 appth'calNJn of resources, including the income and expenithture, ofthe thwitable )varry kn thal year. In preparing these fffiancial ststements. the trustees are rewrÈd to.. - select sultabk aecounting polieFe$ then aFoty them Cfmsistenty. - observe Ihe methots and priwiples ir) the Chartties SORP., - make judgements and estimates that are reasonable wudent.. . stste vthetheT wbcable UK AccoLthing Standards have I, subied to arry material depariwe5 disdosed and explained in the financial statements: and - prepare the ffinanrjal statements (Kb the wng concem urss it inwpmpriate to that the ¢harity vill wntinue in cyerati¢M. The Intstees are responsi1e for keeping a¢kryate accounlvig rec¢)rds Ihat ¢sdose ith reasonable acraCY at any time the financial posibon ofthe charrty and able them to ensure that the financi* ststements ¢onyJty the Corrpanies Art 2006. They are akn responsitde safeguarding 1he assets of the th8nfy and herKe Air tsking reasonable steps for the prevention and detection oftraud and other irregL&arrlies.
FOOD AND COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FOODAND COMMUNITYTRUST QuaIrfd opinion have audrted 1hè finanLYal statements of Food and Community Trust (the 'tharit) knr the year ended 31 October 2024 which compiise the statement of ffinancial activitse5. the balance sheet, the statement of cash flow5 and note5 to the financial statements, including significant accounting policie$. The ffinancial iÈp(ffting framework that has been applied in their preparation is applicable law and United lfjngdom Accounting Standards, including Fbnanoal Reporting Standard 102 The Firt8ncFal R8portJng Sland4rd appfi¢ab18 in the UK and Republic of Ireland (Untted lfj'ngdom Generalty Accepted Accounting Pra(ce). In opinion, except for the pSIble 8ff8ds of the matter described in the Basis f Qualified OF4nion seLon of our POrt. the )Inancial statements.. give a true and fair view of Ihe state of the thartable mpanY'S affairs as at 31 October 2024 and of its incomirKJ resources and appll¢atlon of resources, induding its inGome and expondilure, for the year then ended., have been propety prepared aC[danCe with United Klngdom Generally A(xepted AcGounlng Ftactic,' and have been prepared in accordance ¥th Ihe requirements olthe Companies Act 20C6. Basi5 for quafffd opinion ndUCted our audit in a¢¢ordanc8 ¥th International Standard8 on Audng IUKI {ISPs (UK)) and appli¢atle law. Our responsibile5 under those standards are further described in the Auditort resporisibilits'es for lh8 audrt ol Ihe financial statements 5eclion of our ieport. We arè independent of the charity in accordance the ethi¢al iequirements that are relevant lo our audit of the financi81 statements in the UK, incbjding the FRC'S Ethical Standard. and we have fijlfilled our ¢)ther ethical responsibilthes in aGrdance vi1h these requIrents. We believe Ihat Ihe audrt evidene¢ we have obtained is $uffii7ent and appropriate to provide a ba8is for our qualified opinion. Imh respect to stock having a Carrying amount of £205,682 the audrt evidence available to us was limited be(XLr6e we did not observe the Counting of Ihe physical stock as at 31 October 2024. since that date was prior to our appointment as auditor of the chaitty. Owing to the nature of the companys recordg. we were unable to obtain suffioent appropriate audrt eviden regarding the stock quanmles and therehre valuabon$ by using other audit procedufes. Conclusions rnlating to going concern In audbting the finanaal statements, we have conduded that the trustees. use of the going concem basis ol accowting in the preparatson oflhe financial slatements is appTopiiats. Based on the T•by)rk we have performed, we have not identiffied any material uncertainties relating to events or conditions that, indivithjalty or colleclively, may cast signifficanl doubt on the tharity's ability to continue a5 a g(xng concem for a period of at least tsyetve monlhs from wthen the ffinanoal ststements are authorised for Issue. (>Jr responsibiifaes and the respOns51e5 of the 1TUStees wth respect to going con¢em are desuibed in the relevant Sections of report. Other information The other information wmprises the information (nduded in the annual report other than the financial statements and our auditorfs report thereon. The trustees are reBponsthle for the other information contahed V•ithin the annual eport. Ir opinion on the )Inancial stslements does not cover the other fOrmatIon and, except to the extent othervise explicity stated in our report, we do not express any form of assurance condusion thereon. Our le8ponbIlity is to read the other information and, in doing 50. C0116ider vthether the other infomial'on is materially Sncon515tent 1th Ihe financlal statements or our knedge obtained in the course ofthe audit, oi othemse oppea to be materially misststed.ll identify $u¢h material inconsi¥ten¢ies or apparent material misstatements, we are required to determine vknether 1his gves rise to a material Th4sstatement in the financial statements themselves. If, based on the work have performed, we condude that there is o materigl nwsstalement of thrs other formatiOn. we are required to report that faot. We have nothing to report In thls regard.
FOOD AND COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT(CONTINUED) TO THE MEMBERS OF FOOD AND COMMUNITYTRUST Opinions on other matters prexribqd by the Companks Ad 2006 In our opinion, based on the work undertaken in the ¢ourse of our audit.. the informalion glven In the tru8tee$' report foT the financ481 year for bich the financial 8tstements are prepared. which includes the drector8' report prepared for the purp08e3 of company law, Is conslstentvlth the financial statements., and the th"re¢tors' report induded within th8 trustees, report has been prepared in accordance ap1¢able legal reqimrements. Mattors on thich w• r• requirnl to rnport by exceptltsn In the light of the kno%edge and understanding of the charity and its environment obtained in the course of the audit, we have not idèntifièd mat8rial misstatements in Ihe directors, report induded wlthln the trustees. report. In respect solely of the limitsb.on On our work relat5ng to stock d8suibed above.. we have not obtslned all the nformation and explanations that we eon8ldered necessary for the puvpose of our audtt.. and we were unable to deternne thether adequate accounts'ng record8 had been kept. have nothing lo report in resped of the lollovAng mattern in relation to vthlch th• Comp8nle8 Act 2006 requlr88 u# to report to you Sf, in our opinion.. Ihe financial gtaleThnts are not kn agreemont the accounlng records and return¥; or certaln disclosures of tru8tee8' T•muneralOon •pedlled by law are not mado. Ihè tru8l•e8 were not ents'lled to prepare the finon¢ial statements In accordance the 8mall eomp8nl¢$ regime and tak• athanl•ge of the 6mall companies. exemptions In preparing the tru8tees' report and from the requlrement to PT¢pore a ¥lralegiG report. R•swisibllltl•s of tNt••• As explained more fulty in the slatomgnt of trustees, responsikn'libeB, the tW8tee8, are also the directors of tho charity for the purpogo ol company law, are r¢sponsible for the preparation of the flnandal 8tatement• and for being satisfied that they gve a true and fair view, and for such intern81 control the tru8lee¥ determine 1$ noces$ary to enable the preparabon of financial Slalements that ore free from materlal mlsststement, wthelher due to fraud or error. In preparlng the flnandal statements, the trustees are responslble for assessing the Ghaiity8 abilty to onlinue as • going GOnm. droGlosing, as applKable. matters related to going concem and using the going ¢oncefn basis of accounng unless thé trustè8s aith8r Intend lo liquidate Ihe tharitable conyany or to cea8e operats'ons, or hgvg no realistic 4Aomotive but lo do so. Audilorf¥ wMpon•ibilitiv lor th• audit of th• fin•n¢i•l statemts C1 objedive5 are to obtain reasonable assurance about ether the anrAal statements 8 wh¢le are free from material mis6tstement. Ihthether due to fraud or error, and to issue an auditor's report ihat includes our opinion. Reasonable assurance is a hith level of as8uran¢e but is not a guarantee 1hal an audit condu¢ted in accordance vdith ISA5 (UK) wll alvfdys deted a material misstatement %then it exlsts. Misstatements can arise from traud or error and are considered rnaterial if. indiviibjally or in the aggregate, they could reaBonably be expecled to inlluence the eOrnI¢ de¢lOn8 of user8 taken on the ba81$ 01 these finanal $tstements. The extent to Vbi¢h ow proGedures are Gapable of delecting irregulaiitses, induding fraud.18 detailed beh)w. - Considering the nature of the sector and the charity's perfomiance. - Enquiry ot managemènt, and those charged v1h govemance. - Reviewing minutes of meetings of those charged viith govemance. Enquiry of enoty 8tsff In MplIanCe fijncllons to ldenfy any Instsnces of non-compllarKe ith lawB and regulats"on$. Reviewng ffinancial statement discAosures and testing to supportlng dowmentation to assess comph'anr wth applicable lav•S and regulations. JJditing the risk of management override of ¢ontrok, Induthng through testing purnal entrie8 other adjustments for appropwiateness, and evaluating the business rationale of significant transactions outside the noimal course of business.
FOOD AND COMMUNITY TRUST
INDEPENDENT AUDITOR'S REPORT(CONTINUED
TO THE MEMBERS OF FOOD AND COMMUNITY TRUST
A fvjrther description of wi responsknilibes is available on the Fwiancial Repwthg Counalb website al.. htr.'Il
.frc.org.uklauditOf8respon8its'litses. ThB descriplion forn wt of our authtor's report.
Other matt•rs
It should be nced that the correspmdkng fjwres not auited as there was no lègal requirement for th05¢
ffiwres to be aui*kd.
Us• ofour rnrt
Thi8 report is made 8oldy lo the tharrtable corryany's mèThl>eAs. as a boay. in xCtYdce vlith Chapter 3 of Part 16
ol the Companies 2(M16. ()Jr au
FOOD AND COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestricted Restrithd fund$ fvnds 2024 2024 Total Unrnstrictod Restricted funds funds 2023 2023 Tolal 2024 2023 Donations and legacies Charitable acliwities other trading actI¥e8 Investments 128,190 1,531.110 1,659.300 58,293 58,293 2,829 598.107 24,484 25,468 37,500 40,929 78,429 595.278 1.004 1,500 1,500 Totsl income 213.776 2,127.392 2.341.168 39,000 40,929 79,929 ExndituTe on: Charitable actitieS 103,455 1,516,367 1,619,822 2,400 3,150 5,550 Totsl eXpdire 103,455 1.516.367 1,619.822 2,400 3,150 5,550 Net incoTh and mDvem8nt in lunds 110.321 611,025 721,346 36,600 37,779 74,379 RecxKiliation of funds: Fund balan al 1 Novener 2023 36,600 37,779 74,379 Fund balances at 31 October 2024 146,921 648,804 795,725 36.600 37,779 74,379 The statement of financial activM'es includes all gains and losses reColsed in the year. Al income and èxpen(knJre derive from continuing aCtiVe8.
FOOD AND COMMUNITY TRUST BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Notes Fixed ass¢ts Tangle assets 12 14,400 Currnnt ass•ts Stocks Debio Cash at bank and in hd 13 14 205.682 89.132 608.616 187 79.081 903,430 79.268 Creditor5: arnounts falling du• with one year 15 1122,1051 (4,889) Nel cunpnt assets 781,325 74,379 Total assets kss current liabili5 795.725 74,379 The fund$ of the ¢haTity Restricted income lund& Unrestricted fvnds 17 18 648.804 146.921 37,779 36,600 795,725 74,379 The finan(aal statements were approved by the trustees on 22 Juty 2025 Mr Sanxjel Evans Trustee CoMpY registration number 14396763 (England and Kles)
FOOD AND COMMUNITY TRUST STATEMENT OF CASH FLOWS FOR IHE YEAR ENDED 31 OCTOBER 2024 2024 2023 Cash flows from owating activ*ies Cash generated from operalions 21 523267 79,081 Investmg activities Fr¢haSe of tsnglAe ed assets Invesljnent inco reced (192CI)I 25.468 Net cash generated froml(used kn) vesting activitie5 Net cash used in financing activilios Net increase in cash cash equivalents 529,535 79,081 Cash and ¢ash equNaients at bei¥nning ofy 79,081 Cash and cash •quival•nts at end ol year 608,616 79,081 10-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounling pDllchs Charity infony Food and Community Trust is a private company limited by guarantee InCoOrated in England and lthl•s. The restered office 18 66 Cr05s Bedfoid Street, Shefflèld. S6 3BQ. 1.1 Accounting conv•nlion The financial statements have been prepared in accordanGe with the ch&rity'$ Memorandum and PAi¢les ol Associab'on, the Companies Act 20C6, FRS 102 "The Financial Repoding Stsndard applicable in the UK and R8publlc of Ireland. ('FRS 102,) and the Charil'es SORP "A¢xounln9 and Reporting by Charibes.. statent of Recommended Practice applicable to charhie5 preparing their a¢¢ounts in accordance the Financial Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021. (effeciNe 1 January 20191. The charAy Is a Public Beneflt Entsty as defined by FRS 102. The financlèl 8talements are prepared in $lerfing, %thi¢h is the nonal currency of the Chrty. Monetsry amounts in these financ4al statements are rounded lo Ihe nearest £. The finan(ial statements have been prepar8d und•r the hl8lorlcal 81 convenllon. Th• prln¢lpal accounkn'n9 poIIGies adopted ore Set OLrt below. 12 Qolng ¢on¢•rn Al the lime of approvlng Ihg fin•nual gtatements. the tru#tee8 have a reasonable èxpectatlon that lh¢ ¢harkty has adequate resouic8s to continuè in operath'onol existence for the loreseeable futuie. Thu• th• contsnue to •dopt the goinu concern basis of accountlno in preparfng the finanL¥al 8tstem•nts. 1.3 Charttabh fvnd• Unrestricted tsndB are ovailable for u8e al the d18cretion of th• trustee$ In fvrtherance of thelr charrtable objectives. Restricted fijnih are Subjed to 8pecifi¢ ndIts,0ns by donors or grantors aB to how they may be u$¢d. Thè purpo8e6 and UB8S of the restrlcted fiJnd$ are set out in the note5 to the financial statements. Endowment ndS are ubp¢t to Spedflc condition8 by donors that the ¢apltsl mu8t be maSnl•ined by the charity. 1.4 Incom• Income18 reCogn5d n the tharty B legalty ent'lled to It after any performance conditi'on¥ have been m8t, the amounts can be measured r8liably, and It16 wobable1hat income wll be received. The monetaryvalue of foodbank donations of goods 18 not able to be measured 1th Sufficient reliability and is not induded Mi Ihe incoming resources ofthe Charity. Cash donations are recognrded on receipt. Other dongbon$ are recogn15ed onoe the th4nty has been nOtid of the donation, unle$$ performance condlllons requlre deferral of the amount. Income lax recoverable in relation to donation8 received under GiftAd or deed8 of covènant is récognlsed al the time of the donation. LegaGies we recogni8ed on receipt or otherwise if the tharty has been notified of an impending di%lrfbuttM. Ihe amount is kno%, and receipt is expected. If th¢ amount is not knoMI. the legacy is treated as a ¢ontingent asset. Grants are re¢ogni$ed in the year when the entiilement to the an1 is confirmed. Grarrts for the purchase of equipment and towards the initial seth'ng up ol projects are GTedited in fvll to the relevant activiti'es in furtherance of the Chaiity's objects. Grants that prowde Te fvn('ng. or are of a genèral nature provided by govemment and tharitable foundations, are recorded as Voluntary income. Grants specificalty for goods and seNice8 to be provKled as part of charitable aclivitie6 are recorded against the aclyity to N%thich they relate.
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting (C(Jnlinued) 1.6 Expendilure Expenditure is recognised onr there is a legal or conslructive obligation to transfer economic benefft to third party, it is probable that a transfer of economic beneffits Vill be required in setlement. and the amount of the obligath.on can be measured reliabty. Expendtture is daBsified by amfy. The costs of each activ are made up ol the total of dI[t Costs and shared costs. including 8UPPOrt costs invofved in Ur)derla'ng each activty- Direct ¢osts attributaue to a sIne activity are allocated direcuy to Ihat a¢ti¥ty, Shaied costs véhich contribute to more than one activity and support (X)sts thich are not atln'butsble to a single activity are apporb.oned be1Ven those actithties on a basis consistent wilh the use of resources. Central 8tsff costs are allocated on the basis of Iwne spent. and depreciation charges are allocatèd on the portion of the assefs use_ 1.6 Tangibl• fixed assets Tangible ffixed assets are inibally measured at cost and subsequentty measured at cost valuation. net of depreciation and any impaitrnent losses. DePClation ig recognised so as to WTite off the cost or valuation of assets less the residual values over thew usefijl lives on the following bases.. Motor vehicles 25% Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference bets¥een the sale proceeds and the [Ty1ng value ofthe asset, and 18 recognise(l in the statement of finanal activities. 1.7 Impaimwnt of fix•d assets At each reporting end date, the chartty revievts the carrying amounts of its tangible assets to deternThne vthether there is any inth"cation that those assets have suffeied an impairment loss. If any such indiGatton exists. Ihe recoverable amount of the asset is estimated in order to determine the extent of the impa¥ment loss {if any). 1A Stocks Stocvs are stated at the lower of cost and estimated selling pitce less the $t of food dated lo other foodbanks. Cost comprise5 direcl food costs that have been incuThed in bringing Ihe Stocks to thew present location and conth'tion. Net realisable value is the estimated Selling pri¢e less all esl'mated costs to be inwrred in marketing. selling and distribution. 1.9 Cash and cash equi¥alent$ Cash and ¢ash equivalents indude cash In hand, deposits held at call with banks, other shrtlemi liquid invèstments with original maknrities of three monlhs or les5, and bank overdrafts. Bank over(trafts are sho1 ithin bOrrOn9& in current liabilities. 1.10 Financial instruments The charity has elected to appty the provisions of Se(on 11 'Ba¢ Finanaal Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial in8truments are recognised in the thanty's balance sheet vthen the chaiity becomes pfj to the Ctracal provisions ofthe instrument. FinanGial assets and liabiliti'es are oltset, y1h the nel amounts prèsented in the fjnanaal 5tatem8nts. Ythen there B a legally enforceab right to set off the recogni5ed amounts and there is an intention t() *tle on a net basis or to realise the asset and sethe the liability simultaneously. 12-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting polKios (Continued) 8a8lc Ilnandal 4ss•ts 8asic financial assets, indude debtor8 cash and bank baances. are iThtialty measured at transaction piice Indudng trMnsa¢ts'on costs are sthequenly Cafried at amorfised c05t Using the effe6ve interest method unless the rangement constibjtes a ffinang transocbon, hthere the transaction is measured •t the present ¥ae of the receipts dIscnIed at a mwket rate of interest. Fwianaal assets dlfied as receivable W•ittMn one year are not am¢)thed. Ba•lc flnM¢lal I1111•9 Bawc financial liabilities. incKlng ueLltor8 bank loan5 are Inlllally We15ed at transadon prfee unless Ihe arrangement con8titiJtes a financwig transaclion. there the debt instrument ts measured at Ihe present value of the future payments th6counted at a market rate of kntere61. Finenfial lia.b.e0 dassifi•d 48 payable thin one year are nol amorttsed. Debt in•tvuments ar• 8ubwuenty caThied at amorlised cost, using the effeclive interest rate method. Trade creLtors are obligations to pay for goods or service8 thal have been acwlred in the ordiny courne ol operations suppliers. AmoLmts payable are dassthed a8 (rrent liabilits'es if payment ts due wthin one year or le38. 11 rt, they are wesenttd as nM-uJrient liabih"ties. Trade Credh0 recogniBed iiOally at transgGlon wl¢¢ and subsequenty measured at amortised c061 u6ing thè effefthe rlterest method. O•r•coll0n of fftwi¢lal114bMttI Fimnaal liabl'11¢5 are dere¢ogr¥sed the thawty'8 c1)ntrac obl9•0 •xpYe LY arè dl8th8rgèd or ¢an¢elled. 1.11 employ•• b•n•fit The cost of any unus•d hdiday entiUeThnt IB recowi8•d in the perh In Ihe eryloye¢'s servlce8 ale received. Termination benefits are re¢ognised immethatety 8$ an expense then the tharity io demon•trabty eommthd to terminale the moYment of eryloyee ¢)f to proMde ternwnation bene6. 1.12 Retirnment b•n•frts Paywnts to dofined ty)ntributi¢n rdirenwt ben¢fft sthemes are (d 88 an expen¥• as fal Ce. In tre epplicotim of Ihe oGGounkng Frfies, the trustees we re(wlred to make pd98ments, eslimate8 and assumptions about Ihe Caying amount of assets and liabilities that are not reath.ly apparent from other $ource$. The estimotes and assouated aswirplions are based on hIS1Cal experience and other tscttts that arg considered to be rekvant. A¢knal results may differ from these estimates. The estlmates and thdeing Unb.0 are re%lewed (m ongoing bash. Rewision$ lo fyccounling estimates are recognised *) the period in I1¢h the estimate is rewsed ¥there the revision atlects [lY that period, (x in the perKJd of Ihe re¥iston and wmxls kne the rewsion affecis bolh ujvrent and future periods. 13-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 ocfoBER 2024 Income from donatlons and legaclES Unrnstrfet Reslrlcted fvnds fvnds 2024 2024 Total Unreslrict•d Restricted funds 2023 Total 2024 2023 2022 Donations ar)d giftB Grants 32.537 95.653 805,376 725,734 837,913 821.387 1,177 39,752 1,177 77,252 37.500 128.190 1,531.110 1,6S9,300 37,500 40,929 78,429 Grants Ffiiladelphia Network Llrrited St Thomas Crooke8 Trussell Trust Sheffi81d Cty Cound National Lottery Awards For All Other 53,717 190.227 17,206 407,889 9,288 89,800 243.944 17.206 449,825 9,288 89,800 37,500 37,500 41,936 29,830 29.830 9,922 9,922 11,324 11,324 95,633 725,734 821,387 37,500 39,752 77,252 Inconw Irom charhabh adlvlt iknrNtrlcted Unrestricted fund# lund• 2024 2023 Gen•ral Ineom• Servlces pro¥lded under (>)ntract 58,293 Income frnm othertradkng actl¥ths Total Unr•strictad R•strf•d funds lunds 2023 2023 Total funds 2024 funds 2024 2024 2023 Fundraistiig events Food 5ale8 2,829 821 594,457 3,650 $94,457 1,500 1.500 ¢Jher tradlng acti¥fftes 2,829 595,278 598,107 1.500 1,500 14-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Incomè from Investments Unrnstrictad Rostrkt•d funds fund$ 2024 2024 Tolal Unrnstricted Restricted furbds nds 2023 2023 Total 2024 2023 Intere8t receivable 24,464 1,004 25,468 ExydIre on chirllable actl¥Stles Unrnjtrlcted Restricted lunds fvnds 2024 2024 Total Unr•¥trl¢ttd Restrfct lund$ nds 2023 2023 T1 2024 2023 DlrKt Costs Staff c08ts D•pYtciatlon and impaliment Molor and travel ProleGts staff expenBe8 Food purchaseg Haulage Foodbank Phlladelphla ItndS 84,698 375,647 460.345 4,800 13,317 18,%2 5,977 745.204 35,988 4,800 14,424 25,621 6,961 745.204 35.986 1,107 7,059 984 18 16 1,895 594 1,895 594 85,092 85,092 93,848 1,284,585 1,378,433 2,507 2,507 Shaw• of support and gov&manc• colts {Jo0 nots 8) SuppDrt 7,807 221,582 Govemance 1.800 10,200 229,389 12,000 643 643 2,400 2,400 103,455 1.518,367 1.619,822 2.400 3,1 SO s,sso Analysis by fund Unre$tri¢tsd fundB RestsiGted lund$ 103,455 103,455 1,516,367 1,516,367 2,400 2,400 3,150 3,150 103,455 1,516,367 1,619,822 2,400 3.150 S,$50 15-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCT08ER 2024 Support costs alloc to acti¥iiÈs 2024 2023 Alministrative ccts Bank charges Legal and professional the$ IT ci)sts Insurance Utiifaes telephe Repairs, mairlenance and equipment ditllndepertrknt Examiner fees 25,694 372 99,534 18,201 11,085 37.845 36.658 12,000 40 186 27 2,400 241.389 3,043 Ansed belwEen: Unies1rided fvnds Restricted ILWKIS 9,607 231.782 2,400 241.389 3,043 Tolal Donati8 from Irte5 4ThLted to £2.350 the year ended 31 c2024 (2023: £Nill. TYK) Iruslees V•Ere reimbursed for expeMes rat# lo travel exPere$ etc. totslling £2,117 {2023 . £Nil). Lknng the year der rewew. TruBtees were Iheir serviS a¥ enwhyees. These payments are in accordance V•ith the prosIcS in the dated 3 October 22. Detaifs of Paym to those Tiustees are sel out belw: Salary Pensio Sam Evar Jayne Franklin 37.911 3,482 7,403 ExJding the th¥e ants. recevrfed under wilten aweeThtr. no Inth or olhei person tnneLed to the Charty had any pernonal interest ¢ontra¢t ortrwwclion entered into by the Charity thTmg the year. 10 Ernployee5 The average nttY number of enwoyees thring the year T*aS: 2024 2023 Nrnr NumlJ•r 16-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2024 10 Employees (C¢ntinued) EMploYt costs 2024 2023 INages and 8alaiies Social secunty costs Other pen8iM Costs 405.975 18,787 35,583 460,345 There were no employee8 Ythoso annual femunerallon was more tt78n £60,000. R•nwn•rnllon of k•y MAnag•mt pw%¢)nn•l The remuneration of key managernent personnel waB £91.342 (2023- £NIII. 11 Taxatlon The Gharity IB exempt from laxalon on Its acilvitles because all Its Income16 appli8d for tharitable purpoBU. 12 TangIb lixod assets hlde• Cost AddldL)ns 19,2LK) At 31 Oclober 2024 19,200 Dfrprrtlation and impoirnwnt Deweciab'on tharged in the year 4,800 At 31 Odober 2024 4,8¢)0 Ca1g amount At 31 OGtober 2024 14,400 13 S*)cl(s 2024 2023 Food stock 205.682 17-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCT08ER 2024 14 Debto 2024 2023 Amounts falling due wilhin (w year. Trade debto other debtors Prepayments and a(xrued irbcome 45,412 42,091 1,629 187 89,132 187 15 Crnditots: •Munis lalling Ikn within on• y8 2024 2023 Other taxation and al se{rity Trade creditors AcfxuaL8 and defeffed rKon 1,832 84,809 4.889 122,105 4,889 2024 2023 Dthed ¢ontrilMrtion sch Charge to profft or I in respert ofdefined contritsthiw s¢*emes 35.583 The charity operates a defined ¢on1ribUlic pensim scheme for all quarIng employees. The assets of Ihe stheme are held separatety from those of the charity in an independentty adl$le[ed fund. The expense is split been the revrt fuTrd5 the same basis •$ wages salaries, dependKig upon the job roles of each employee. 17 Restrlct•d funds The resthcted fijnds of the thaiity the unexpenthd baances of donalb)ns and grants held on trust subjert to speolc condrlions by as to Ibywthey nmy be used. Incomwry Resou At 31 Cktober 2024 2023 Foodbank Forge Youth Debt service 28,049 9,826 1.W,917 46,421 120.054 {1.397.8841 (44,4931 (73,9901 591.082 11.754 45.gS8 37.779 2.127.392 (1,516.3671 648.804 18-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 17 Restricted funds {clIned) Previous peiiod: At1 Incom*w Resources At 31 Octob•r 2023 Foodbank Forge Youth Debt service 31,007 9.922 (2,9581 {96) {96) 28.049 9,828 (96) 40.929 (3.150) 37,779 18 Unmttfjd lunds The unres1rictsd fvnds oflhe thartsi comyi5e the wexpended balan$ ol dMatIO and ants vthlch are not subiecl to 5pecifi¢ conthti¢5 by don0 grarrt¢X5 as to howthey may bè used. These include designated fd$ vA)ith have been set de wt ofumeslricted by the for spa(xfK purpose5. Incoming ReSoUe5 At 31 October SOU expended 2024 2023 Gener&1 ndS 213.776 (103,455} 146,921 Incoming Resources At 31 Octob•r 2023 2022 General fvnds 39.000 P.400) 36,6 19 Anatysis of net asséts b•lwn funds funds 2024 2024 2024 At 31 Octobqr2024: Tangible Sets Current a8setslOiabiThties) 14.4 634.404 14.400 781,325 146,921 146.921 648.804 795.725 19-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 19 Analysis of net assets between funds ICwtinu8d) Total lund5 2023 lund5 2023 2023 At 31 Ortober 2023: Current as8etsl(liabik'ties) 36,600 37,779 74.379 36,600 37,779 74,379 20 Related party transacti¢)ns Transxti¢)ns wilh v•late¢l parties During the year the charity entered into the followng transactions v•ith related paTlies', The tharity took over the existing operalions of S6 Foodbank, Forge Youtt) and nwc* of Restore operalions from The Philadelphia Netsvork Limited ltharity no. 1134973). The Charith'es contsnue to WDrk together on Various projects. ThLS charity received a total of £7,1 12023 - £37.500) from the Philadehla Neork Mled during the year ended 31 October 2024 in lieu of fvnd transfers, grants, interest and donations. In addition, this thatity paid a total of £66,122 (2023 £Nill lo Philadelphia Nets¥ork Limrted towards $ts ineuThed on their behalf. Induded in Trade debtors at 31 October 2024 is a credit notè of £10 {2023 £Nil) owed to Philadelphia Network Lillwled. 21 Cash generated from opernlions 2024 2023 sUlUs for the year 721,346 74,379 Adjustm&nts for. Inv8slment income recognised in ststemenl of ffinanual activitses Depreciatson and impairment of tangible fixed assets (25,468) 4,800 Movements in worlting capital: Ilncrease) in stocks (Increase) in debtors kn¢rease in creditcfs (205.682) {88,945) 117.216 116n 4.889 Cash gweratgd 0tiOnS 523,267 79,081 -20-
FOOD AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 22 Analysis of ¢hang•s in net funds The had no material debt during the year, -21