Ballymoney Foodbank Limited Trustees, Report The Irusiees, who are direciors for ihe purposes of comwdni" laii". preseni the annual report together M'iih the Iinancial statements ot the charitable compan!- tor the l'ear ended 31 March 202J. Objeetives and aetivities Objec15 aim 'I'he charily's objectives are io: prth'enl andlor relief of poi.'ertv in Ballvmone! and sum)unding areas in particular. but not e¥clusiN"elTr'. b!. proi'idin? emeroenc!- food supplies 10 indiN"iduals in need. 'l-o raise funds io assist lo successlully operaie ihe foodbank. To run charithble eN'ents raise a.areneSS. To help local people sutlering trom FK)ieth' b!, proi-iding emergenc). tood supplies. Public benefit To raise funds to assist lo successfull}. operate the Foodbank. 'l-he Irusiees confim ihal they" hai'e complied ii.iih ihe requirements of seciion 17 of the Charilies 2011 have due regard to the public benefit ouidance published b)- the Charity. Commi&sion for England and Ilales. Trustees and officers Thc trustccs and ofticcrs scrN'ing during thc ycar and sincc thc I'car cnd m.crc a5 folloM"5= Trustees= Peter Rollins Valerie Archer Jcan Rollins Walter Mccallum Structurei governance and management Recruikment and appoinkmenl of trusle£s The compan} aclivel). promotes a board of trustees ivhich includes a range of skill. experience and knoii'.ledge in kcLping w'ith thc pursuancc of its objccts and to this cnd it is cntitlcd to adi'crtisc and IntcTr'ic" cligiblc candidates to be potential iwstees ot the tlard. Induction und training of tru51e Ne. Irusiees are ini'iied and enLouraged alnd a series of short Iraining sessions to familiarise themselves 'ith the charit!, and the contexi ii-ithin ii.hich it operates. These sessions coN'er the obligations ol. trustees, the main documcnts which 5Ct out thc opcrational t-rmV0rk for thc charits". rcsourcing and thc currcnt financial position and tuture plans and objectives. Ne. trustees are also referred to the Charits. Commission's guide "The Lssenlial -l-ruslee" Thc trustccs havc asscsscd thc majur risk5 to which thc charity is ciwscd and arc 5atl5ficd that svstcms arc in place to miligale expx)sure to the major risks. Page 2
Ballymoney Foodbank Limited Trustees, Report Organisational 51ruclure 'I'he is a companv limiied b!, guardniee . Thc trustccs i%."ho arc a150 thc dircctors for thc purtK>SC of compani" laiy. and M."ho scTh'cd during the N'ear I4'ere= Mr P Rollins Mrs J Rollins Mrs V Archcr Mr Walter Mccallum Financial iDstrumellts Objeclives andpolicies Thc charity s acti.1t1cs cxposc it to a nUMr ot- tinancial risk5 including crcdit risk: cash floil risk- and liquidity risk. "I'he use or rinancial derivaiii es is goi'emed b! ihe charii!" s policies approi.'ed b!. the board of iruslees. ."hich provide iiTitten principles on the use of Iinancial deriN"atii"es to manage these risks. The charit). does not use deriN'ative financial instruments for speculaiii'e purposes. Cashflow risk Thc charity's actiN'itiCS CXP05C it primaril!. to thc financial risks of changcs in forcign CuCc. cichangc ratc5 and interest rates. The Lharity. uses t-oreign eichange foni?rd coniracts and inierest rate si4.ap contracts io hedge thcsc cxposurcs. Interest bearing assets and liabilities are held at fixed rate to ensure certaints, of cash floivs. Credit risk 'I'he iharily's principal financial assets are bank balances and cash. Irade and oiher receiN'ables, and investmenls. The charits. s credit risk is primaril!. atiributable to its trade receii-ables. The amounts presented in the balance sheet are nel of alloii'ances lor doubtful reLeii ables. An alloiiance lor impairnieni is made 14.here ihere is an identified loss event i¥hich. based on prei'ious eirience. is ei'idence of a reduction in ihe recoi'erabilil!, of the cash floivs. The credit risk on liquid funds and derii'atii'e financial instwments is limited because the counterparties are bkS ivith high crcdit-ratings assigncd bi" intcrnational crcdit-rating agcncics. The chariiy has no significani concentraiion of credit risk: 14.ith exposure spread over a large numLYr of countcrpartics and cu5tomcr5. Liquidity, risk In order to maintain liquidits. to ensure that sutyicient funds are aN'ailable tor ongoing operations and future dLI'clopmLnts. IhL Lharits. u5C5 a mixturc of long-tcrm and short-tcnn dcbt fincC. Further details regarding liquidit}. risk can be found in Ihe Statement of accounting policies in the financial statcmcnts. Statement of trustees, responsibilities The trusiees (ii'ho are also the directors of Ralll'mone! F(M)dbank l.imited for the purtx)ses of companN' la) are rcsponsiblc for prcparing thc trustCCs' fcEX)rt and thc financial slatcmcnts in accordancc ii-ith applicablc laTh and United Kingdom Accounting Standards (Uniied Kingdom Generall) Accepied Accounting Praclice). including FRS 102 "The Financial Rewrting Standard applicable in the UK and Republic ot Ireland" Page 3
Ballymoney Foodbank Limited Trustees, Report Company la requires ihe irusiees io prepare finaniial sments for each financial vear. Under companTr lam. the trustees musi not approi-e the financial statemenLs unless thes- are £ati£tied Ihat the!. giiTe a true and fair i-le, of thc 5tatc of affairs of thc charitablc compan!" and of thc incoming reioufccs and application of rcsourccs, including ils income and expendiiure. of the charitable companv for that period. In preparing these financial statcmcnts: the trustccs arc rcquircd to.. select suitable accountino wlicies and appl! them consistentlv- obseTh'e the methods and principles in the Chariiies SORP- makc judgcmcnts and cstimatcs that arc rcasonablc and prudcnt: state ii,hether applicable accountin? standards. comprising FRS 102 hae been followed. subject to an material departures disilosed and eiplained in the financial SMents. and prepare the tinancial statements on the ooin? concern basis unless it is inappropriate to presume that the Charlble compan!. w.ill continue in business. Thc trustccs arc rcspx)nsiblc for kccping propcr accounting rccords that can disclosc with rcasonablc accuracv at any time the financial tx)sition of the chariiable compan!. and enable Ihem 10 ensure that ihe financial slatements complv ii'ith the Companies 2006. The)" are also resFrf)nsible for safeguarding the assets of the charitable compani. and hence for taking reasonable SLeps for ihe prei'eniion and deieciion or rraud and oiher irregularilies. Thc trustccs arc rc5wn5iblc t-or thc maintcnancc and intCl. of thc corw)ratc and financial information included on the charitable companl s Il'ebsiie. l.egislation goi'erning the preparation and dissemination of financial statements may difter trom legislation in other jurisdictions. Thc annual rcwrt approvcd bs, thc tru5tccs of ihc charits. on 23 Octobcr 202) and signcd on ils bchalf by= Peter Rollins Trustee Valcric Archcr Truslee Jcan Rollins .1 rustee Walter Mccallum 'l-rusiee Page 4