Charity registration number NIC 101072 COMPANIES Hni IQF Company registrdtion number N1628614 (Northem Irèland) 1 4 SEP 2D23 BELFAST STOREHOUSE NORTH DOWN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 • JCC18959• 1410912023 COMPANIES HOUSE JNI #18 STOREHOUSE NORTH DOWN LEGAL AND ADMINISTRATIVE INFORMATION Trust••g Margaret Grace Colville 8ailie Paulinè Rebecca Hare Hugh Patrick Mccart Brendan Mccrory Valerie Margaret Miskimmon MBE Lesley Helen Robinson Linda Anne Taylor Charity number NIC 101072 Company number N1628614 Reglstered office 12 Balloo Avenue Bangor County Oown 8T19 7QT Independent ex4mlner Harbinson Mulholland Cenlrepoint 24 Omieau Avenue Belfasl Co. Anlrim Northem Ireland 8T2 8HS STOREHOUSE NORTH DOWN CONTENTS Page Truslees. report Independenl examinees report Slatement of financiAI activities 8alance sheet Notes lo the financial stslements 8-13 STOREHOUSE NORTH DOWN TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT) FOR. THE YEAR ENDED 31 JANUARY 2023 The Trustees preseni their annual report and financlal statements for ihe ye8r ended 31 January 2023. The Trustees, who are the directors for the purposes of company law, present their annual report together wilh the finanaal siatèmenis of Storehouse North Down for the year to 31 January 2023. Since the Charity qualifi¢¥ ?5 small under section 382 01 the Companies kt 2006, Ihe strategic report required of medium and large companies under The Companies Act 2008 (Slralegic Report and Directorfs Report) Regulations 2013 15 nol required. Objectives and actsvilies Slorehou5e North Down (Ihe Charty) is a regislered charity and is structured as a company limited by guarantee reglstered on 12th January 2015. The Charitys goveming document is ils Memorandum and Artide5 of Association. The Pfincipal objeclives ol Ihe Charity a￿ conlained in the Memorandurn and are as follows: a) lo relieve sickness. finanaal hardship and poverty and lo promote and preser¥e good health by the provision ol funds, goods OT services of any kind, induding bul nol by way of limilalion Ihrough the provision of emergency food pa¢kages In such parts of North Down and Donaghadee, Northem Ireland or Ihe wortd a5 the Trustees see fit; b) to benefit the residents ol North Down and Oonaghadee or such parts of Northern Ireland or the wortd without distinction ol sex, sexual orienl81ion. race or of polilic81, religious or olher opinions by associats'ng together Ihe 58id residents and local aulhorilies. volunlary and other organisalions in a common eflort lo advance education and lo provide facilities in the inleresls of social wellare lor recreation leisure time occupalion wlth Ihe objective of imwoving Ihe condilions ol lrfe for Ihe residents, In this reporting period the Truslees have focused on the relief of food poverty by the provision of emergen food packages in Such parts of North Down and the surrounding area as the truslees from lime to lime see fit. It 15 Ihe aim of ¢h¢ Charity thal n¢>one in North Down Should go hungry. Context Sto￿house North Down commenced activity in November 2012, All reporting Irom that dale lo 11 January 2015 was done through Storehouse Bellasl accounts. STOREHOUSE NORTH DOWN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 Management The Chairperson and the Manager of Ihe Charity re￿rI to the tntstees. who meet on a regular basis. The Charity works by referrals from recognised agenues both statutory and vdunlary, communbly workers. and thwch personnel. Our manager has buili up slrong links wilh other loodbanks in Northem Ireland, governmenl official$, ccmmunity officers, press and businesses in the area and report back lo Ihe trustees on meetings wlh such bodies. We are rewesenied on the Afds and North Fwm on poverty and on North Down Communily Network Board. Support Irom thè communlty We conlinue io have very good support from over filty four churches as well as local businesses and individugls who support us wilh groceries aThJ donal1(￿s. Some have signed a gift aid fomi so increasing their donations. We are also indebled lo Asda. Sainsbury Eurospar and Tesco for Iheir support. Marks & Spencei Gonlinue to give us Iheir surplus bread, elc. These have been well ￿CeiVed by our dients. We also have CA)nlacls with local farmeTr and are able to supply fresh vegetables. This year we have seen an increase in Ihe number ol shops who have d￿atIon baskets in Iheir shops and Ihe r(ffnmunity have supported Ihis inilialive. We are also Ihanklul lo the Hygiene 8ank supporting our woths wilh donations again. In the monlhs leading up lo Chrislmas we have been overwhelmed with the arnounl of supporl we have had from local schools, local businesses and local organisati￿5. Businesses have held Charity days lo wpport Slorehou5e North l)own and wilh Ihis financial siipporl we have been able to buy goods Ihal we were short off. Volunteer4 The charity is rtm by a board of Trustees and a very enlhusiaslic and dedlcaled group of volunleers under anagemenl team and supported by our Chalrperson. Eacli iiew volunleer is given an induction pack and is kept up to dale on all heallh and safety procedures. Most of our volunteers are relired and so are in Ihe vulnerable age group. We continued lo operate wilh the sUPPQrt of a small nur￿er of our volunleets. They have been fantaslic. We ¢)we B greal debt of gratitude lo our volunleers. who are mostty senior rAtizens, for Iheir dedication. We continue to operale as we did during COVID haviNJ fouTrJ that Ihis works very well and safeguards OLty volunteers. STOREHOUSE NORTH DOWN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 Increase in MqU•8t8 The present economic situation has hil very many people. The incxease in mortgages. Trnt. electric and ofl prices as V￿11 05 the ir)crease in food has meant that we have seen an increase in requests. As the year progressed we found the number of requests increased. The rnonihly value of the hampers given crtrt is approximately £1251XI plus fresh food. AIthou9h we ha¥e seen a decrease in donations ol groceries we h￿e seen an inttease In financial donal1￿$. We Ihank God lor his failhfukness in providing everything thal we have needed. Indeed we have lound Ihal Ihe more we gave oui Ihe more came in. This year the lolal number (not induding Chrislrnas) was 1.570. The tolal value of Ihe hampers given out Ye￿ wilh meal vouchers wa5 8ppioximalely £135.0(Ki. We have helped almost 40￿ people in the last year. We also gave 391 hampers at Christmas lo Ihe Vaue of £7,311 helping 1086 people. We exped the increase of requests to C￿linUe as this emnomic situation conlinues. GoSng Goncern Afler making appropriate enquiries, the trustees have a reasonable expeclalion that thè Charbty has adequate resources to continue in operall￿al existence for Ihe foreseeable future. For this reason they conlinue to adopt the going concern basis in pyeparing ihe financial 51atemenis. Further delals regarding the adoplion ol the ty)in9 concern basbs can be found in ihe Accounting Policies. Flnanclal revlew The income for Ihe period was £233.189 and our expenditure was £201.4￿. Our assets comprise food slocks amounting to £23,717 and Cash in the bank of£287,347. The Trustees intend to set aside t30.CWJO ol the cash as a reser4e for unforeseen circumstances such as having lo leave our current premises and have to rent wemises at a cc¥nrnercial rent. We currently benefil from 100% rale relief due to the Company's chaTilable slalus. The accounls refled the adivity from 31st January 2022 to 3151 January 2023. structure, govèrnanee and management The board is made up of 9 Iwslees 4vho support the Chiistian ethos oflhe Charity (t¥￿ of Ihase restgned during the year). They bring io the boafd many skills which are Televanl to Ihe smoolh runnin9 of the charily. The appointmenl of any Iruslee follows Ihe guidelines set out in our Memorandum and Artides of assoaation. On appoinlmenl new tTUStees WTII be given the relevanl trairing and all information regarding ihe duties of a tnjslee. The Trnslees, who are also the directors foi Ihe purpose of company law, and who served durlng the year and up to the dale ol signature of the financial statements were,. Marga￿1 Liiace Lol¥illè Ballle Susan Marian Fleming Daphne Vera Gdmore Pauline Rebecca Hare Hugh Patrick Mccart Brendan Mccrory Valerie Mèrgarel Miskirnmon MBe Lesley Helen Robinson Linda Anne Taylor (Resigned 28 Marth 2022) (Resigned 28 March 2022) Risk management The Tfustees regard the Charitys main risks io be Ihe conlinuty of food donations and the availability of affordable premises. The dNersty of the contribjting organisations for food mitigates Ihis risk. Regular communication with these organisali(ms is Maintained to demonstrate the ￿ntinuIng need for donations. STOREHOUSE NORTH DOWN TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Slatement ol Trustees. responslbllitles The Tnjslees, who arE also the directors ol Storehouse North Down for 1he puipose ol company law, are responsible lor preparing the Trustees. Report and the financial slalements in accordance wrth applicable law regulation. Company law requires the Tnjstees to prepare finandal $lalemenls for each flnandal year. Under tho11ow the Trustees have prepared the financial slalernenls in a¢uxdance with Unlied Kingdom Accwnllng Standards, omprising FRS 102 Yhe FinanrAal Reportlng Standard applKable in the UK and Republic of Irelanrf. applicable law (Uniled Kingdom Generally Accepted Accounting Practir£). Undèr company18w the Truslees fflusl nol apwove the financial stalements unless they are satisfied Ihat they give a true and fair view of the slate of the affairyJ of the cornpany and of the incoming resources and applulion ol resources. indudin9 the incorne and expendilure, of Ihe company lor Ihal period. In wepafwig these fmncial slalemenls. the Trustees are fequyed to.. selecl sumable accounting policies and then apply them consislenlly; make judgments and estimates Ihat are reasonable and prudent; and prepare Ihe financial slalemenls on Ihe going concern basis unle$$ li Is inapprowiale lo presume thal the wlll cont￿￿ in business. The TnJslee5 are Tesponsible for keeping adequate accountin9 iecord6 Ihal are sufficient lo show and explain the company's Iransaclions disdose with reasonable accuracy al ￿Y lime Ihe financial pogrtion of the company and enable Ihem to ensure that Ihe financial statemenls cornply wilh Ihe Cornpanies Act 2Cth. They are also respongble for safeguarding the assets of the o)mpany and hence lor taking reasonable slep5 for ihe prevention and dele¢lit)n of tra￿￿ and olher Yregularilies, This report has been prepared in arxordan¢e wilh the wovision3 appllcable to comparies subject to Ihe Small ¢onwiwes regime3 within Part 15 01 Ihe Companies Act 21)06. The Trvslees, report was approved by Ihe Board of Trustees. Margaret Gfac8 Cofvtlle 8ai118 TnJg100 2110812023 Paullno Rèbecca Haro TfU8100 Dated.. 2110812023 STOREHOUSE NORTH DOWN INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STOREHOUSE NORTH DOWN We report lo the Trustees on our examination of the financial statements of Storehouse North Down (the Charity) f the year ended 31 January 2023. Respon8lbillti88 and ba$1• ol report As the Trustees of Ihe Charity (and also its dirèclors for the purposes ol company law) you are responsible for the preparalion of the financ4al slalements and you have Considered Ihe audil requirement of Section 65{31 of the Charities Ad (NII 2008 Ilhe Ad), Having 6311sfied ourselves that the charity is not subjed to audil under cornpany law. ond is eli9ibl• lor Independent examination, il is our responsibility lo: examine the aceounts undei section 65 of the Charities Acl (Northern Ireland) 2008,. follow the procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under seclion 6519)Ib) of the Charilies AGI., slale whelher particular matters have come lo our attenlion. Independent examin•rfs sla¢•ment We hove examined your charity account5 as required under Sects'on 65 of the Charities Act and Ouf exarninats'on w&s carried out in accordance with the general Directions 9i¥en by the Charity Commisslon lor Northern I￿land undef seclion 65{9)Ib) of the Charit185 Acl. The examlnallon Included a review of Ihe accounting records kept by the charity and a Com￿rIson of the accounis presenled with those records. 1181s0 induded consideration of any unusual items or disdosures in the accounls. and seeking explanations Irom you as chai?ty trustees concernin9 any $uch matters. Our role Is lo slal• wheiher any mglerial matters have come to our attention giving us cause to believe.. That 8ccounting records were not kept in respect of the Charity as required by section 286 of the 2006 Act.. or the financial slalemenlg do not aLxord with those records; or Thal the financial $tslemenls do not comply wilh the acwunting requirements ol section 396 of the Comp8nies Act 200S and wilh Ihe methods and prlnaples of the Charilies Slalement of Recommended Praclice applicable to Charities preparing their accounts in accordance wlih the Financial Reportlng Standard 8pplicable In Ihe UK and Republlc ol Ireland. Thal Ihere is further infomialion needed for a proper understanding of Ihe accounts to be reached. We have completed our examinallon and have no concems in respect ol the mattèrs (1) 10 (4)118led above and, in Gonneclion with followlng the Direction5 of Iha Charily Commlssion lor Northem Ireland, we have found no motters Ihat require drawing lo your attention. Harblnson Mulholland Cenlrepoinl 24 Ormeau Avenue BeNasl Co. Antrim BT2 8HS Northem Ireland 2110812023 Oaled.. STOREHOUSE NORTH DOWN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023 Unrè8tricted Unrestricted funds funds 2023 2022 Notes Donalions and legaoes Inveslment$ 233.018 212,439 39 Tolal Incom• 233,189 212.478 endlture on: Charitable activities 201.400 139,522 Net Incomo for the yearl Net movement in funds 31.789 72.956 Fund balances at 1 February 2022 278,375 205,419 Fund balan¢e• •t 31 January 2023 310.164 278.375 The slalemenl ol finanual aclivities indudes all gains and losses reeagnised in the year. All income and èxpenditure derive Irom conlinuing aclivities. The $￿tement of financial activities also rxjmplies with the requirements lor an income and expendilure acc4unl under Ihe Companies Act 2006. STOREHOUSE NORTH DOWN BALANCE SHEET AS AT31 JANUARY2023 2023 2022 Noles Current assets Stock5 Cash al bank and In hand 23.717 287,347 21,451 257,824 311.064 279,275 Creditor¥: amounts falllng du• within one yaar 10 (9001 (900) Nel ¢urrenl assets 310,164 278,375 Incom• funds Unrestricled lunds 310.164 278,375 310,164 278.375 The company is enlilled lo Ihe exemption from the audit requirement conlained in seclion 477 of the Companies AIA 2006, for the year ended 31 January 2023. The difeclois acknowledge Iheir.responsibililies for complying with Ihe requirements ol the Companies Acl 2006 with respect la accounting records and the preparation of financial statements. The members have not required the company lo obtain an audlt ol Its financial stalemenls lor the year in questlon in accordance with Section 476. These financi81 statemenls have been p￿pared in accordance wilh the provisions applicable lo Companies subjecl lo Ihe srnall companies regirn6. Tho financial statements were apprr>ved by the Tnkstoes on ......... . . Margafel Grace C4Jlwlle >illè T￿S￿O Pauline Rebe￿a Harn TnJsts• Company Registratlon No. N1628614 STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 A¢¢ountlng policies Charlty Inlormation Sloreh¢use North Down is a private company limited by guarantee incorporated in Northern Ireland. Th8 registered Offi￿ is 12 8alloo Avenue, Bangor. County Down, 8T19 7QT. 1.1 Ac¢ounllng Conventlon The fin8nca81 slalemenls have been prepared in accordance wilh the Ccmpanbes Ad 20fk3 and "Accounting and Reporting by Charities". Statement of Recommended Piactice applicable lo charilies yeparing the accovnls in a¢r3xdance wilh the Financial Reporting Standard appliGqble in the UK and Republic of Ireland (FRS 102). (as amended for a¢¢ounling periods commencing from 1 January 2016). The Charity 1$ o Public 8enefil Entlty as defined by FRS 102. The Charity has tsken advantsgè of the Provisions In Ihe SORP for chwilie¥ applying FRS 102 Update 8ulelin 1 nol to wepare a Slatemenl ol Cash Flows. The financlal stalemenls are prepared in sterfing, which is the functional cuffency of Charity. Monetary arnounls in Ihese financial statemenls are rounded lo the nearesl £. The financial ￿atemen15 have been prepared under (he histL￿cal cost c(wTvenilon, Imodified lo Indude the rev8lu8ts'on of freehold properties and lo include investment properties and certain financlal inslnJm6n16 ai lair value). The winc￿la1 a¢¢wnling policies adLWted are set out below. 1.2 Golng concem Al the lime ol approvlng Ihe fin8ncial slalemenl$, Ihe Truslees havé a reasonab18 expeclailon Ihal the Charity has adequale resources to conlwiue in opefalional exislence for the foreseeable future. Thus the Trustees conbnue lo adopt the going concern basis ol accounling in preparlng Ihe financial slalemenls. 1.3 Ch•rtt4ble lund• Unrestricted fund$ are availabl• lor use at lh¢ distrètion of the Truslees in lurtheranrA of their tharitable objectNes. Restrided lunds are sublecl to $peeAfic condiilons by donors as to how Ih•y may be used. The purposes and Uses of the resliicted funds are set out in the notes to the finanaal TAaternents. 1.4 Income Al Income is recognised once Ihe Chonty has entidement lo Ihe income, tt is probable thal Ihe income will be rec8i¥8d and Ihe amounl of inmme receivable Gan be measured reliabty. Donated seNices or facilits'es a￿ re¢ognised when the Charity has contr(4 over the item. any ¢ondilions associated wilh the donated item have been met, Ihe receipt of economic benefrt from the use of the Charity of Ihe item is piob8ble and Ihat economt¢ benefil can be measured rèli8bly. In accordance willTr the Ch8rilieg SORP verdrafts. Bank overdTafts are shown within borrowings in currenl liabililie* Basic financial assets Basic financial assets. which indude debt*ars and cash and bank balances, are inilialty measured al transaction price InC￿0￿g transa¢lion cos1$ and are subsequenlly carried al amortised cost using the effeclive vileresl method unless the arran9ement conslilules a financing transaction, where Ihe tsansaclion Is rneasvred al the pwesenl value of the lulure receipls dIsL￿unIed al a market rale of interesl. Financial assels classifEd as receivable within one year are not amortised. STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Accounting poli¢bes (Contlnued) Basie financlal Ilablllues Basic finanaal liabilities. indudlng credilors and bank loans are inilialty reco9nised al transaction price unless Ihe arrangemenl constitutes a financxng trnns8Ction, where Ihe debt inslrumenl is measured at the present value ol the future payments discounled al a market rate of interest. Financial liabilitie5 dassified as payable Within one year are not amortised. Debl instrurnents are subsequently carried at amorlised cost. using Ihe effective interest rale method. Trade crcdilors are gbk'galion$ lo pay for goods or servirxs that have been awuired in ihe ordinary course of opefalic¥ns from suppliers. Amounts payable are dassiffied as current liabill￿eS if payment is due wihin one year or less. If nol, they are presenled as norFcurrenl liabikiies. Trade creditors are recognised initially al transo¢tion price a￿1 wb5equently measured al amortised cost using the effective Inte￿S1 method. Dereco9nftlon of financlal Ilabllltles Financi81 h'abililies are derecognised when the Charity's contraclual obligalions expire or fjre dISd￿rg¢d or ¢anc£lled. CrItI￿1 accountlng estimates and ludg¢ments In Ihe application of Ihe Charity's acC￿ntIng poltcies. Ihe Tn￿leeS are required to make iudgemenls, estimates and assumplions about Ihe cairying amount of assets and liabililies thal are nol read￿Y apparenl Irom other Sources. The eslimales and associaled assumplions are based on historical experienc£ and other lactors that are considered lo bè relévant. Actual results may differ from these èslimates. The ts￿rnales and underlying assumpti'ons are revlewed on an ongoing basis. Revisions Io acc4)unllng estimates are recognised in the period in wfHch Ihe eslirnate is revised where Ihe revision affects only thal period. or in the period ol the revision and luture period5 where Ihe revisicn affects both current and future. periods. In the Truslees, opinions, there are no Signif￿nI judgements. estlmales and assumptions made about the recogni140n of assets, liabih"ties, incomes and expenses. Donatlons and legacles Unrngtrlcted Unrestrlcled fundg funds 2023 2022 Donations and gifts Giants 230,601 2,417 204,939 7,500 233,018 212,439 10- STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 JANUARY 2023 Donations and legacies (Continued) Oonations and gifts Food d¢)naled Donalioned froffl individuals Oonatiorts from organisatit￿S Gift aid Other 109.165 90.730 28,607 104.054 80.643 16,995 3.247 255 230,601 204.939 Grants recelvable for core activitie8 Ard8 and North Down Borough Council 2.417 2,417 7.500 Inv•stmentg Unrestricted UnrestiiGled funds lunds 2023 2022 Inlerest re￿1¥able 171 39 Charitable aetivitie$ 2023 2022 Food paf¢els issued Food expenses Other Go$l$ Meat vouchers issued Renl Bank lees Hardship fund 114.391 18.044 104.341 371 10.000 10.625 23.1 13.21YJ 355 22.786 193.776 125.337 Share of support CA)81s (see note 6) Share ol go¥emance costs (see note 6) 6.724 900 13,286 201.400 139,523 11 STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 Supp(wt ¢osts Support Govemance costs 2023 Support costs Govemance cos1s 2022 Establishment expenses 6.724 6.724 13.285 13.285 Accountancy 900 91X) 900 6,724 7,624 13,285 14,185 Analysed between Charilable aclivilies 6.724 7,624 13.285 9rA) 14,185 Govemance cost$ indudes paymenls lo Ihe audilor8 ol £SXXI (2022- £900) for audit lees. Trustees None of the Trustees (or any persons c￿nec1ed with them) received any remuneration or benefits from the Chanty during the year. Employ••s The average monihly nurnber ol employees during the year wa8.. 2023 Number 2022 Number Trustees Siorehouse North Oown does noi have any employee. Iherefore there were no employees whose amual remuneralion was rn￿e than £60.000 St•xks 2023 2022 Finisw goods and goods for resale 23.717 21.451 10 Creditorn." amounts falling due within one year 2023 2022 Attruals and defer￿d income 900 12- STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 11 Analysls ¢1 net assets between funds Totsl 2023 Total 2022 Fund balances al 31 January 2023 are rwesenled by: Current 85selsl(lial￿lfjIle8) 310,164 278.374 310,164 278,374 12 Op8ratsng l•ase cofflmltfflents Al the reportn9 end dale Ihe Charity had (Mjlstanding comrritrnenls for lulur¢ mirimurn lease paymenls under non