Ball)"rnoney Foodbank Limited Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 31 March 2024. Objectives and activities Objects and aims The charity's objectives are to: prevent an(Vor relief of poverty in Ballymoney and surrounding areas in particular, but not exclusivel!, by providing emergency food supplies to individuals in need. To raise funds to assist to successfully operaie the foodbank. To wn charitable events to raise awareness. To help local people suffering from poverty by providing emergency food supplies. Public benefit To raise funds to assist to successfully operaie the Foodbank. The trustees confimi that they have complied with the requiTeTnents of section 17 of the Charitie5 Act 201 I to have due regard to the public benefit guidance published by the Charity Cotntnission for England and Wale5. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees: Peter Rollins Valerie Archer Jean Rollins Walter Mccallum Structureg governance and management Recruilpnenl ancl appoinlmenl of Iru51ee5 The company actively promotes a board of trnstees which includes a range of skill, experience and knowledge in keeping w'ith the pursuance of its objects and 10 this end li is eniiiled to advertise and inierview eligible candidates to be potential trusiees of the board. Induclion and Iraining of Iruslees New trusiees are invited and encouraged to altend a series of short trdining sessions to familiarise themselves with the charity and the contex( within which it operates. These sessions cover the obligations of trustees: the main documents which set out the operational frdmework for the charity.. resourcing and the current financial position and future plans and objectives. New trustees are also referred to the Charity Commission's guide "The Essential Trustee" The trustees have assessed the major risks to which the charity is exposed and are satisfled that systems are in place to mitigate exposure to the major risks. Page 2 Ball)"rnoney Foodbank Limited Trustees, Report Organisalional struclure The is a company limited by guardntee . The trnstees who are also the directors for the purpose of company law, and who served during the year were" Mr P Rollins Mrs J Rollins Mrs V Archer Mr Walter Mccallum Financial inslruments Objeclives andpolicie5 The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on ihe use of financial derivaiives to manage these risks. The charity does not use derivative financial instnllnents for speculative purposes. Ca5hflow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at r￿ed rale lo ensure certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investmeiits. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impalmient is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverabilili, of the cash flows. The credit risk on liquid funds and derivaiive financial instrumenis is limited because the counterparties are banks with high credit-ralings assigned by inlemational credit-raiing agencies. The charity has no significant concentration of credit risk. with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a miiture of long-term and short-terni debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Statement of trustees, responsibilities The trustees (who are also the directors of Ballymoney Foodbank Limited for the pU￿oseS of company laTh') 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 3 Ball)"rnoney Foodbank Limited Trustees, Report Company law requires the trustees to prepare financial sthtements for each financial year. Under company law the trustees must not approve ihe financial statements unless ihey are satisfied that they give a twe and fair view of the stale of affairs of the Charithble company and of ihe incoming resources and application of resources, including its income and expendilure, of the charithble company for ihat period. In preparing these financial statements, the trusiees are required io: select suitable accounting policies and apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent: state Th'hether applicable accountinu standards. comprising FRS 102 have been followed, Subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accut7cy at any time the financial position of the charitable company and enable ihem to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe assets of the Charitable company and hence for taking reasonable steps for the prevention and deteciion of fraud and other irregularities. The trustees are responsible for the maintenance and integrit), olthe corporate and financial inforniation included on the charitable company's website. Legislation governing the preparation and dissemination of financial 5tatenients may differ from legislation in other juri5diction5. Disclosure of information to auditor Each trustee has thken steps that they ought to have taken as a twstee in order to make themselves aware of any relevant audit infomation and io esthblish ihat ihe charity's auditor is a￿.are of that iTJformation. The trustees confirni that there is no relevant inforn)ation thai ihey know of and of which they know the auditor is unaware. Page 4 Ball)"rnoney Foodbank Limited Trustees, Report The annual report was approved by the trustees of the charity on 20 December 2024 and signed on its behalf by: Peter Rollins Trustee Valerie Archer Trustee Jean Rollins Trustee Walter Mccallum Trustee Page 5