LIBERTY Company Registration No- 10236602 Charity Registration No: 1205646 THE UBERTY KCHEN PROJECT TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS for the Year ended 30 June 2024
THE LIBER KCHEN PROJECT CONTENTS Page REFERENCE and ADMINISTRATIVE DETAILS OF THE CHARITY TRUSTEES REPORT STRATEGIC REPORT DIRECTORS REPORT INDEPENDENT EXAMINERS REPORT 11 STATEMENT OF FINANCIAL ACTiVIIT]ES 12 BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 14-18
THE LIBERTY KrrcHEN PROJECT REFERENCE and ADMINISTRATIVE DETAILS OF THE CHARITY TRUSTEES l¢aren Bames Chartes Falconer, Lord {Chairl Ethvard Faulks, Lord Catriona Fox Julra Killick Phil King Hassan Ali (appointed 16 December 2024} Jon Walls (apinted 16 December 20241 COMPANY SECREtARY Phil lfjng CHIEF EXEcimvE Janet Boston REGISTERED OFFICE: 26 Cromwell Avenue London N6 5HL BANKERS Natwest Bank 26 HaMpsteI Hh Street London NW3 1QJ INDEPENDENT EK4MINER David Wls(lon Green Accountancy Wndnjsh House. nd[USh Park Road tney OX29 7DX COMPANY REGISTRATtON NO.. 10236602 (England & Wales) CHARifY REGISTRATION NO: 1205646 (England & Wales)
THE LIBERTY KITCHEN PROJECT Trustees, Annual Reportfor the year ended 30 June 2024 The Trustees present their Annual Report and Financial Statements for The Liberty lQtchen Project for the year ended 30 June 2024. The financial staterrEnts have been prepared in accordance with the accounting policies set out in Note 1 to the acUnts and wmpty wtth the chanty's Articles, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 Juty 2014. STRATEGIC REPORT Objectives and activities for the publlc benefit Tre Libety Kitchen Project was established in 2017 to promote swal inclus for the public benefit by providing support and assistance to prisoners. ex-prisoners and individuals who may be In prison but have not yet t)een convicted and l or sentenced to help their rehabilitation. transition and integration into scKiety during the period Pfior to and following their release from prison and lo seek to reduce the risk of offending or re-offending las appltcablel following their release, in particular by engaging in sijch activtties as considered fft in fijrther8n of such objectives including Iwithout limitatson) through". lal provision of sknlls training. education and capacity building to maximise opportunities to se¢ure employment for the benefit of the (x)mmunity by assisting reIntegratn into society,. Ibl collaboration and co-operation with the prison seNi( or assctiated entities and organisab.ons as considered fit so that the relevant individuals are better able to pae1pate more fulty in soctety following release trom prison". and Icl SUPFM)rt for PTisoners on release to help them dpen lffe and employment skills through lob oppothjnibes (aiding reintegration). Achievements and Perfomiance °Liberty Kitchen couldn.t hav8 done anymore forme. I'm 99.9% SU I would hav8 gone back inside. It's changed my stream ofthinking. I wanl to give back to society now. Context The prison system facing an unparalleled crisis. The prison population has increased by 800 over the last 30 years and an overstretched, under-fesourceil prison estate is struggling to cope. Prisoners are regularly kept in their lIS for 23 hours and the opportunrbes for Purposeful Activity and educabon are severely limited. Once leaSed from prison, stress on serViS like probation mean there is limited sUPPOrt. Access to jobs is often restricted due tr) limited education and employment experience, prejudice, and chaotic lsves. In this context. 38% of people are recoftvicted of another offence within one year of release. The average annual )st of a prison place is £46,696. Desprte, or because of, the severity of the situats"on, there rernains opportunity for an innovative through-the-gate programrne like Liberty Kitchen to deliver real impact. Studies have shown that Pfisoner5 who participate in educational programmes are less likely to reoffend. Further, employment has beers Klentified as a key driver in reducing reoffending, wtth addilional research identifying the importance of equipping prisoners with vocational sknlls, self-discipline and self-esteem as other factors in reducing reoffending. Libety Krtchen's o)mbined leaming pro9ramme with its hands- on catering experien, qualffications and busines5 Tnenloring together with team work, time management and basic Ittefacy skills directy contribute to these outcomes. Together. these help build confidence and germinate the idea that there are altemabve, legits.mate waysto eam an income so prison 'This quote131oTrg with those wtthin the body of the report) is drdwn from a review of impart carried out in late 2023. It is part of a long term 'M&E' inibative designed to capture the experiences of those who have participated in the Liberty Kltthen Programme as well as from others involved in delavery, the criminal justice system and crucially reduong r*offending.
THE UBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 leavers are better equipFed to adapt to lrfe oUtse prison. The provision of employment upon release on street focxl markets and at events provides a 'slepping stone. to prison-leavers giving them vital income. stability and peer support to help them readjust to life outde and give them time to a(klress their family, housing. and longer term employment needs. sin it was established, Libety Krtchen has delivered its 4-day per week programme to 130 men in HMP Penttsnville enabling them to build employrnent, entetprise antl life skills bul beyond that to increase their Gonfidence and posittvely impact their mentsl we]Ibeing. ApPr0MatelY a third of its participants have gone on to work wrth Libety Kttchen for varying lengths of b.me upon release. Key achievements include: Training and providing catering experbse. errterprise qualtfications, lifè and personal slIS lo over 130 men Sin 2017, WFth a focus on peer-to%)w leaming, Developing a training eduoxtion programme where 1 OOVO of the parttcipants interviewed would recommend it to other prine[s, crb.ng inueased confidence, improved self-esteem. improved communication skills and ability to work in a team as key areas of achievement. creab.ng a curriculum for the Libety lfjtchen training course wrth a 32-page programme leader guide and partscipants. manual to track each indNiduafs leaming IOUTney and arnIng goals. This will provide the basis for scaling and ltransfer. Employing 44 prison leavers since 2020 on market Stalls and at catering events. The provision of a part-bme job provides a crucsal 'stepping stone." giving income. stability and a supportive environmentwhile allowing time to address housing, famity and longer-term employrnent needs. Of the ex-prisoners who a still in contact with Libety Kitchen over 80% have stayed out of prison. or stayed out for longer. Successful delivery of a trial with from the Neurc#Yiverse Unit and with others including Young Gang Mernbers within the EMploYffnt Hub at Pentonville., and in the kn"tchen at HMP Wormwood Scrubs Introducing Cooking with Farni Days with Literty Kttchen parb"cipants cating meals with their family visrtors,. an Innovation rwnEed as a genuinely postbve inteivention by Governors, custodial staff, prisoners and their families. Surviving, pivoting and adaptsng during the palldem during which il delivered 1000s of mealboxes to medics at the Royal Free and one of the very few faface activities to work dut£ng prison lockdowns None of these achievements would have been po&b without the creatiors of a mults'-disciplinary delivery team which, sinGe the organrzation w2$ founded has drawn upon the talents of top chefs, and others with relevant catering. Itfe and business mentoring expenence. Monitoring and Evaluation", From ils inception Libety Kitchen has monrtored rts impact with all involved from prison staff to agencies working in the same Spa as well crucially as its parbcipants Iprisoners and prtson-leaversl. In late 2023 the independent consultant who worked wilh Libety Kitchen to develop rt5 training materials undertook a series of structured interviews wth a range of these stakeholdet5. at folh)ws are selected quotes from the prisonlprison leaver part"apants in restx)nse to various questions." Q. What was the rnost invaluable art ofthe Libe Kjtchen P ramme? Itprovided regime. strurture. oreoson to getup. Andreduong boredom. it's like oproper daS work. It wos like a job to me.
THE LIBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 Thot this could be something that I could do outside. It helped me to express creotivity ond feel norfflcl when everything hos been taken uway. Making food, being part of o team. & feedbockfrom people who've enjoyed myfvod. Thefamily duy it gave me the chonce tofrel ti bit normol. It WOS good cooking with my son. ained? Q. What were the main factical skills Corrert knife techniques. Thot goes a long way in a reol kitchen I dldn't ht7ve t7 clue betore. Now I know how to chop onions. peppers and lots of thingsfor myself. I developed a Culty Roud Boll- iys got mackerel. sweet potato. ondspinach in it. Leurning to cookfoodfrom drfferent cultures and cuisines Under5tonding the quantities of ingredients needed eg not LTdding too much solt Following und cookingfrom o recipe. Before l used to usefoodfrom a jur. . How have ou used these ractical skills since leavin rison? Myfirst opportunity wus otLeother Lane. It Was u massive help to eorn legitimote money. Yes, with Liberty Kitchen t7nd in lots of differentjobs as I've become o chef- Yes, iys been o long journey. l joined on ogency- thathad lots of cotering jobs. From there- I became afirstprep chef in a 5-staT restoumnt. I will cookformysewfrom scratch rother thun eotingfrozenfoods . What were the rsonal skills ained while with Libe Kitchen? Manyskills fbut especiolly) time mont7gement and teomwork. It's given me confidence.... Nowsome new men hove storted on the prograrnrne, they turn to ask me things about how to do stuff. IYS given me confidence reoding ond writing. We've been given o book ond I like looking through it Ifeel specioll AIwoy5 teamworking ond needing to be orgonized I've learnt to odapt to people that I wouldn't nom?olly be oround - Overall what do ou feel ou most ained from our invofvement with Libe KitchenP It wos on obsolute life saver to help bridge the gap between prison ond lifr on the outside. "For me the progromme is invuluublefor (the reason thot) when you come out of prison. I didn't wont to be o drain on society. Thefriends I mode hove supported me too. We're still in contort. IYS given me confidence ond o structure to port of the week It chonged my mindset. I horto out with differentpeople now. Mutes who 5UPPOrt each other. Prison is reollystressful. and Cooking is o positive way to relieve stres5. l Jeelpositive when I think about cookingfor myfamily Would ou recommend this ro ramme to other5? ICV% would...but you've got to be prepured to put the work in It's different thon other projects os you get the real l.-1 support you need. Yes. I'd recommend Liberty Ktitchen to those thot want to explore interests infood- Also, those who wont o sense offreedom ond nomlolity. Its time Spent vuluobly pruct15ing ond exploring who you would be rfnot in pnson. I would 100% recommend Liberty Kitchen to others. because you can learn to cook, find u job, and become more responsible ond orgonisedfor thefuture.
THE LIBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 DIRECTORS, REPORT Financial reviow The Libety Kitchen Project ended the year with a def1t of £10.666 in general funds (2023.. deficit £1a.3841. with a deficil in restricted funds of £17.07612023.' deficrt £49,374). Incorne for the year was £129.724 {2023.' £121.8521 anij exFenditure was £157,466 {2023- £181,610). Expenditure on charitable activibes decreased to £161,444 from £171.603 in 2023. Reserves Policy As the chaTity provides fixed length training programmes, the Trustees believe that the ReseNes Polw should reflect the commitment made to Trainees, to remain available for them to complete their training should no ftjrther funds be forthcoming. The Trustees have therefore decided that in order to allow training course5 to be completed and, if necessary. wind down the chartty in an orderty way, there needs to be sufficient knnds to meet the purtx)ses of the chanty for a period of at least 3 months. Based on projected levels of activty. this woukl require retaining free reserves of at least £30,000. Going Concern th the training contract continuing at Pentonville and another commencing at Wormwood Scmbs in 2025, plu5 the increased Events activity and the grants and donakn.ons already received since yèar end. the charity is cutnVy in a stable financial posrtion. In addth. discussKJns are ongoing to extend our training contracts to at least one addttional prison. The forecasts reviewed by Trustees indicate tha( with the current aVaIla"1[ty of funds, together th the increase in contracted work and fUndraIng activty. the charity can meet its financial obligations as they fall due for at least the next 12 months following sKJning of these accounts. The Trustees have not identified any rnaterial uncertainties and therefore consider rt appropriate to prepare the accounts on a going concem basis. Structure Governance and Management The Liberty Kitchen Project is a registered charrtabie company, limtted by guarantee. Founded in 2017, il is now constituted under the Memorandum and Articles adopted on 20 October 2023, and was registered with the Charity Commission in England and Wales on 9 November 2023 with number 1205646. Ltbety tChen has a Boar(J of elghl Trustees who exercise a supervisory role over the chartty and ensure that governance and decision-making processes are in IiTbe iwlh, and enable us to meet, conlraclual Obligatn$ set in all agreements with extemal parties. The Trustees delegate the day-to4ay management of the chaTty to the Chief Executive, Janet Boslon, the onginal founder of the Libety Kttchen Project. The procramme is delivered by a team of 4 regular staff, several volunteers with d(fferent relevant expertise and the Libety Kitchen Associates (prison leavers) who work with r( upon release. Details of the Trustees who served during the year. and to the date 4)f signing these financial ststements, are shown on the opening page of thks report. Each TTUStee is also a Member ofthe chartty and a3rees to contribute £1 in the event of the charity winding up. The Trustees are committed to ensuring that they have the cornbination of skrlls necessary to support the work of the charity and will enssjre that the Board indudes skn.lis and experb.se in the rehabilitabon of offenders, food marketing and preparatK)n, criminal justre. ftjndrciising, sctial enterprise, commercial law and financial and risk management
THE LIBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 New trustees may be sought by open advertisemenL social media or through dialogue with key stakeholcler groups. They are appointed by the Chair with the support ofthe Trustees. Twstees seNe for Ihiee years after which they may put themselves forward for re-appointment The Articles provide for a minimum oflhree Trustees with no set maxtmum number. At quartedy meetings, the Tnjstees agree on the broad strategy and areas of activty fDr the charity, including administration, new projects, risk management and perforrnan. The Chief Executive is responsible for supervising delivery of the day-tLHlay actNities and works with a talented professional team comprising.. a top private chef who assists wth creative recipe development and technical skill tr8ining," a catererltherapist who oversees market production arsd provides personal support to the pafticipants., a businesEJsrnall entetprise trainer who provides one to one mentonng to help participants with future business plans and Kfjeas". and an educatr>nal consultant who reviews all aspects of each programme in order to develop appropriate training materials. On appointment. llew Trustees sn a Trustee declaration. The induction process will include an initial meeting wrth the Chair and the other Trnstees, as well as a meeting wrth the Chief Executive to discuss projects, powers and responsibilities of the Board_ This will include a history of the Charity, copies of the minutes from the most recent three trustee meetings, the current annual budget and cash flow statements, a copy of the last annual reporL a copy of the Memo and Articles and copies of the Charty Commission's guidance2 Plans for the fUre Having seen the impact Ihat Libety Kitchen has achieved, and in response to requests from its stakeholder5- including learners in prison. other agenciesworking in habIlitatIOn and prison managers from Govemors to Officers - it seeks to deepen, scale and dwersty its offer. In the coming three years, Libety Kitchen aims to train. mentor. and develop the talents of 370 prisoneFS and prison leavers to reduce reoffending and promote reintegration. Wthin this longer tefm goal, in the year 2024125. Liberty lfjtchen will aim to: wrthin prisons." Deliver 3 10-week, 44ay a week combined leaming prcyjramme to 32 participants Iminimuml in Pentonville whith inVoeS calenng, enterprise. and IrFe sk]"Ils as well as Level 2 Food Hygiene and Institute of Enterpnse qualtfications. Replicate the model lo one new prison, Wom(X)d Scrubs. to delNer a 5-week. 54ays a week combined learning course to 80 parb"cspants. Deliver adapted 6-week courses for 36 prisoners wrth neurodwerse needs, young adults with gang affiliation and those on lifellPP senten5 Wtthin Pentonvi1le_ Develop peer-t&peer mentoring and training and provide a supporbve environmen( facililated by a counsellor, where parhcipants have a safe Spa to share experienS, raise issues and be signposted to support Servi5. Facilitate quarterfy Cooknng will) Family days and communty events wthin prisons to give prisoners a near-nom)al encounter with their famili. which imwjrtant for their mental wellbeing and reducing reoffending. 2 The Trustees seek to follow gc*)d practice set out ty Yhe Essential Tnjsiee. issu1 by the Charity Commission and "The Good TTUStee GuKle- published by NCVO.
THE LIBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 Upon lease.. Provide empIoyrrnt opportuntties to 40 prison leavers (minimum) on maikets across London and a range of (alefing events in resFM)rtse to an increasing demand. swing the menus created in prison. Provide mentoring and onward employrrEnt opportuntti'es via a netwofk within the food industy and prison-leaver chanty space belleve my tlme with Liberty Kitthen hos mode mefeel more secure in myself and have the confidence tofvce oll working dllenge5 in thefvtu Risk Management During 2024, the Trustees, ovefseen by the Chair. wll conduct a ftjll review and update of the charity's risk register. The register wll be monitored quartety and all new projects will continue to be assessed for risk before they are signed off by the Trustees. Risks are considered in eight key areas." loss of key staffr, loss of access to buildin9s,' IT failure and cyber attack.. operating outside the objects of the chanty.. reputstional risk,. theft of fund5, depSetion of funds and data protection risk. All idenbfied risks are assessed for both the like14hrd of cwJrrence and Fthntial financial and reputational impact. Mib"gating controls are then considered and adopted as deemed prudent The charity's risk management stratJY forn part of the fvture planning pr, against which Trustees review progress every year. Fundraising Ajthough we don't undertake fi2ndrar6ing from the general public, fijndraising 15 defined as'soliciling or otherwise procuring money or other propety for charitable purwses." Such amounts receivable are presented in our accounts as'olher income". In relation to the above we confim that all So1lIaonS are managed intemalty, without involvement of commercial participators or professional fijndraisers, or third parkn"es. The daY-ldaY rnanagement of all income generation Is delegated to the Chief Execubve who is accountable lo the Trustees We have received no complaints in relation to fundraising activrties and, as we don't approach individuals for funds, we don't Gonsider it necessary to design specrfic procedures to monitor such Key Management Personnel remuneration The Trustees consider the Board of Twstees and the Chief Executive as comprising the key management personnel of the charty in charge of directing and c4)ntrolling the charity and running and operating the chanty on a day-t(Hlay basis. Al trustees give of their time freely and no Trustee remuneration was paid in the year. Details of any Trustee expenses and related party transacts'ons are disclosed in the accounts. Trustees a required to disclose all rethnt interests and register them the Board. Tnjstees and consultants are asked to declare any potential conflicts of interest at the beginning of every Board meeting. In the event of potential confllcts of interest, the chanty's policy 15 that Trustees should withdraw from the dwsion-making process.. dependant on the majority dec¢sion of the Board, the cDnflicted Trustee may also be asked to withdraw from any discussions ofthe matter. The salary paid lo the charity's Chief Execlttive and those workrng as part ofthe project delivery team are reviewed annually. Pay for consuttants and associates is bendFmarked through comparisons with pay for similar roles in organisations of comparable svze and activity to ensure that the remuneration is f8ir and not out of line with that generally paid for similar rotes. Nt>one is paid sS than the current London LNing Wage.
THE LIBERTY KITCHEN PROJECT Trustees, Annual Report for the year ended 30 June 2024 Statement of Trustees Responsibilities The Trustees (who are also the directors of the company for the purposes of wmpany lawlare responsible for preparing the Trust$., Annual Report including the Strategic Report and the Financial statements in a{rdance with app15rable law and United kn"ngdom accounty.ng standards (Generally Accepted Accounting Practi1. Company Law requires TTUStees to prepare finanual statements for each financial year which give a true 8nd fair view of the state of affairs of the chartty and of its income and expenditure for that period. In preparing the financial ststements, the Trustees are required to". Select suitable accounting policies and then apply them consistenty Observe the methi)d and prinapies of the Chanty SORP {FRS 102) Make judgements and estimates that are reasonable and prudent Stale whether applicable UK Accoun"ng Standards IFRS1021 have been followed. subject to any material departures disclosed and explained in the financial statements Prepare the financial stateTnent on the going concem basis unless it is inappropriate to presume that the char¥ty will cOntine in business. The Trustees are responsible for keeping adequate accounting records that are suffiaenl to show and explain the chaty,$ transactions and disclose wilh reasonable accuracy at any time the financial positson of the charty and enable them to ensure Ihat the financial statements comply with the Companies Act 2006. 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. Provislon of infomiation to the Independent Examiner In so far as each of the Trustees are aware there is no relevant infomation of which the charity's Independent Examiner is unaware and each of the Trustees have taken all steps that they ought to have tsken lo make themsefves aware of any relevant inf0mtiOn and to establish that the Independent Examiner is aware of that infom)ation. The Trustees retK)rt, incorporabng the Strategic Rewrt prepared under the Charities Act 2011 and the Companies Act 2006 was approved by the Trustees in their capaaty as o)mpany directors and signed on their behalf by Charles Falconer (Loytl) Chair Date". io
THE LIBERTY KITCHEN PROJECT Indopendent Examiners Report to the T of The Liberty Kitchen Project for the year ended 30 June 2024 l port to the trustees on my eXaMinatn of the CoUnts of The Libety Krtchen Project (the Challtyl for the year ended 30 June 2024. Re8ponsibilities and basis of report As the Trustees of the Charty, you are responsib for the preparatvjn of the accounts in accordance with the requirements of the chariti.es Act 2011 {'the ACYI. Hawng sat$ed my5elF that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I rekK>rt in resrEct of my examination of your company's accounts as carried OLrt under section 145 of Ihe Charibes Act 2011 1.the 2011 Act"). In carrying out my examinaton I have fol1wl the DIrecn$ gNen by the Charity Commission under section 145151{b} of the Act Independent examlnerf8 Statement I have completed my examination. I confimi that no material mattern have come to my attention in conneclÉon with the examination giwng me cause to beIVe that in any material respecl.. 1. occounting records We not kept in resp of the Charity as UlTed by SlI0n 130 of the Act", or 2. the accounts do not accord with those records. or 3. the 8ccounts do not compty with the app1[b[e wuirements conoming the fomi and (x)ntent of accounts sel out in the Charities (Accounts and Reports) RUlationS 2008 other than any requirement that the acc¥)unls gNe a 'true and fair VEW which is not a matter considereLI as part of an independent examination. I have no concerns and have o)me aCrC no olher matters in con[Trtn with the examination lo which attention should be drawn in this re in orderto eTrab a proper understsnding of the accounts lo be reache(l. Gfv,rf David Wil$don FCCA Greèn Accountancy Ltd, Windru8h Houso. l•Vlndrush Park Road. Wrtfiey. OX29 7DX Datg- li
THE UBERTY KrfcHEN PROJECT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Restrlcted Fund Fund Total 2024 Totsl 2023 Note Income from Charitsble activf(i8S Other income Total income 1(W.324 25.400 129.724 104,324 25,400 129,724 121,852 121,852 Expenditure on Charrtable activÈhes 144.368 17.076 161.444 171,603 Net incomel(expendlturg) Transfer between funds (14.644} (17,076) {31,7201 (49,751) Net incomellexpendtture) beforotsx Corporation tsx ¢rediVlchargel 114.6441 3.978 {17,076) 131.720) 149,7511 3.978 10.007 Net movernent Tn funds Funds brought forward 1 J¢Y 2023 Funds carried forward 30 June 2024 (10.666) 41.7 31.241 {17.076) 19.151 2.075 {27.7421 61.058 33,316 159,7581 120,816 61,058 The Ststement of Financial ActwitEs I1Ud85 all gain5 and kisses recognised in the year The notes on pages 14 to 18 fom part of these financial statements 12
THE LIBERTY KITCHEN PROJECT BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Curront Assets Debtors Cash 8.026 39,909 47.935 6.502 104,113 110.615 Current Liabiliiios Credrtors amounts (14.619) {23.777} Net Current Assets 33,316 86.838 Creditors amounts falling due after rrTor8 than one year Net Assets {25.780} 33.316 61,058 Funds Restricted Funds Unrestricted Funds 2.075 31,241 33,316 19,151 41,907 61,058 Totsl Funds For the year ending 30 June 2024. the company IKas entitled to exemption from audrt under section 477 of the Cornpanies Act 2006 relaling to srrAII companies. Directors. responsibilib"es. no members have required the MpanY to obtain an audit of rts accounts for the year in question in accordance with S 476 of the Companies Act 2006. the directors acknowledge their responsibilities for complying wth the requirements of the Act with respect to accounting records and the preparabon of accounts. These accounts have been prepared in accordance with the provisions applicable to o)mpanies subject to the small cxjmpanies. regirrE. The notes on pages 14 to 18 fomi part ofthese finanGtal slaternents These financial stslements were approved and authorised for issue by the Trustees and signed on their behalf by. Chaftes Falconer (Lordl Chair Date.. 13
THE LIBERTY KITCHEN PROJECT Notes to the Financial Statements for the Year ended 30 JUNE 2024 1 ACCOUNTING POLICIES The principal accountsng polKies adopted, judgements and key Sour of e"Mats"0 or UnrtaInty in the preparation of the financral statements are as follows. Basis of accountin9 The financial statements have been prepared as a going COnM on a historical cost basis, in accordance with the Charth"es Act 2011, CompanEs Act 20[ {FRS 1021 and applicable accounting standards in the United Kingdom. These financial statements have also been prepared in 8¢xordance wrth the Statement of Recommended Practice.. Accounb"ng and Reporting by Charities. preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102, effective 1 January 20151. The charity meets the definrlion of a publ benefft enbty under FRS 102 The Charity SORP Update Bulletin 1 apptying from 1 January 2016 gave exempb.on to smaller charities on including a cash fiow staterrEnt Going Concern As ststed in the TTUStees Reprt there are no material uncertainties abjut the charity's ability to contsnue and accordingty Ihe aCUnts have been drawn up on a going conrn basis. Income Recognition Voluntary income and donath.ons {including legaues) are accounted for on(* the charity has entitlement to the income. r( is probab the income will be received and the amount of income receivable can be re118bly measured. Income from the recovery of tax on gtft aided donations is recognised at the time of the donation. Donations and Grant income are rwJnised when receivable. On receipt, donated Professional services and donated faulities are recognised on the basis of the value of the gift to the Charity whh is the amount the charity would have been willing to pay to obtain ServIS or facilities of equivalent economic tefit on the open markeL' a corresponding amount is then recognised irs eXpendu[e in the period of receipt. Performan related grants and o)ntracts for Servi are recognised in income to the extent that entitlement has been earned through delivery of the underfying serv. Expendlture Recognition VW)ere applicable, expenditure included in RaIng Funds indudes arTh)unts inCued in obtaining grants and other donations. Expenditure is accrued as soon as a liabiltty is considered probable, and the amount of the obligats.on can be measured reliabty. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate. Charitsble expenditure indudes those cc6ts in fvlfilling the ehartty's prinupal objects, as outlined in the Trustees Report. These include governance costs and an appoftionment of support costs. Governance costs comprise all costs involving the public atxountsbilty of the charity and its compliance with regulation and good praCb. specifically costs related to the independent examination. Salary costs Indude employers, NalR)nal Insurance an(1 pension contributions, together with any termin8b.on payments which may be due when an employee leaves the charity. Such tem)inalion payments could include payments in of notice, outstsnding holiday pay, or any agreed redundancy or compensation payments due on leaving. 14
THE LIBERTY KITCHEN PROJECT Notes to the Financial Statements for the Year ended 30 JUNE 2024 Debtors Debtors are included at the setdement amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand Cash al bank and in hand indudes cash and bank aLxounts. Creditors Credrtors are recogni5ed where the charrty has a present obligation arising from a past event that wll probably result in the transfer of funds lo a third paty and the amount due to settle the obligation can be measured or estimated reliabty. Creditors are recognised at their settlement amount Pensions The charity operates a defined (x)nln"bub"on pension scheme and the pension charge represents the amount payable by the chartty to the fund in respect of the year. Taxation The Corporabon Tax charge in the previous year. and the cuent refund due, are applicable to the period prior to 9 November 2023 when the company was registered as a charity. On 24 May 2024, the charity reiVed confirmabon from HMRC that. for tax purposes. The Libety Kitchen Project is a chartsble company. Critical accounting estimates and areas of judgement In the view of the Trustees in apptying the accounting policies adopted. no judgements were required that have a Significant effect on the amounts recognised in the financial statements nor do any esb'mates or assumptvjns made carry a signthcant Tisk ol nNqteTral adjUstsent in the next financial year. Fund accounting The fijnds held by the chanty are etther. Unrestricted funds that can be used for the charlty's ordinary purposes. These include fund5 designated for a partsCur purpase by the trustees. Restricted funds represent grants and donations receNed for a specifie object or invtted by the charity for 8 specific objecL The ndS may onty be expended on the specific object for which they were gwen. Any balance remaining unspent at the end of each year must be [Tied forward as a balan on that ftÈnd. 15
THE LIBERTY KITCHEN PROJECT Notes to the Financial Statements for the Year ended 30 JUNE 2024 2 INCOME Unrestrictgd Restricted Fund Fund Total 2024 Total 2023 Charitable activities Markets & Events Training contract Grants 39,124 45,200 20,000 104.324 39,124 45.200 20,000 104.324 32,095 41,433 48,324 121,852 Other Income Donations 25,400 25,400 25,400 3 EXPENDITURE Unrestricted Restricted Fund Fund Total 2024 Total 2023 Charltable activities Food & packaging Market & Event fees Transport & travel Associate fees Trainers & Mentors fees Staff costs Prefflises maintenan & Equipment IT & CommUnitiOnS Memberships & subscriptions Legal &administration Insurances Bank and interest charges Inderkndent Examiner fees 19,956 4.113 20.415 14.351 19.956 4.113 20.415 14,351 29,958 61,615 754 512 1.064 657 2,409 1.528 1.288 2.824 161,444 18,168 5,000 17.275 12,456 44,015 61,448 7.470 9,606 52.009 754 512 4,103 2,078 710 1,743 1,442 702 657 2.409 1.528 1,288 2.824 144.368 17.076 171,603 Net axpenditure ftrthe year is stated after charging Independent Examiner remuneration for independenl examination Independent Exarniner remuneration for tsx advt( 1,624 1.200 2,824 1.518 1,518 Staff costs Salaries Social Security costs Other Pension costs 60,147 (134) 53,230 6.966 1,252 61,448 61,615 Dvring the year, the charity had one fijll-time employee. and Or part4iwE employ No employee [1Ve more than £60,000 in employee benefits. 16
THE LIBERTY KITCHEN PROJECT Notes to the Financial Statements for the Year ended 30 JUNE 2024 Key Management Personnel The Trustees consider the Board of Trustees and the Chief ExtIve as comprising the key managefflent personnel of the chafity in charge of directing and controlling the charity and running and operatsng the charrty on a day-tTrday bas¢s. All trustees gNe of their time freely and no trustee remuneration vras paid in the year {2023." nill. No expenses were paid to Trustees in the year {2023: nill. Related paty transactions are shown in Note 8 in the accounts. Details of key management personnel remuneration is also covered in the Trustees Report 4 DEBTORS 2024 2023 Trade debtors Prepayments 7,656 370 8.026 6,502 6,502 5 CREDITORS Arnour falling due within 1 year 2024 2023 Trade creditors Accruals Taxation and S(Kial Security Other Creditors 2,618 2.520 8.765 716 14,619 3.694 19,805 278 23.T77 6 CREDITORS Amounts falling due aftef more than 1 year 2023 Loans {UnSered) 25,780 Four loans, totalling £25,780 were outstanding at the stsrt of the year. All unsecured and interest-free, Wtth no fixed repayment SchUle, three loans We converted to tharitrdb donations during the year. wrth the fourth loan r30w due for repayment in the current year. 7.1 FUNOS Ba5ance 1.723 Incomo Exn[lure Transfer Balance 30.6.24 Unrestricted ReStrictj Big Lottwy Fund Soctal EnterkKtse Support Fund Total 41.7 129.724 (140.390} 31.241 17.076 2.075 61,058 {17.0761 2.075 33.316 129,724 (157.466) 17
THE LIBERTY KITCHEN PROJECT Notes to the Financial Statements for the Year ended 30 JUNE 2024 7.2 ANALYSIS OF NET ASSETS BEfwEEN FUNDS Unrestricted Restricted Funds Funds Total Unrestricted Re5trict•d 224 Fund5 Funds Total 2023 Current Assets Cieditors due within l ytrdr Creditors due after 1 year Totsl Nèt Asséts 45.860 {14.6191 Z075 47. 91.464 {14.619) {23.Tn} 25.780 41,7 19,151 110.615 P3,TT7) 125,780 61,058 31241 2.075 33.316 19,151 8 RELATED PARTIES D P King. a Trustee. and J Boston, Chief Executive, had advanced loans totalling £20,000 to the cornpany as additional WOTking capital. These loans are Unred and interest-free, wrth no fixed repayment schedule. During the year. the loans from D P "ng were converted to a Donatr"on and the loan from J Boston will be repaid in the cuming year. 18