BORING WELLS
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles and Memorandum of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” as amended for accounting periods commencing from 1 January 2019) which are prepared to meet the requirements for a directors’ report and accounts for the purposes of company as well as charity law.
Objectives and activities
The principal activity of the charity continued to be that of establishing and maintaining a network of mission shaped communities - focusing primarily on the work of St Christopher’s and the community around it. All of this has been achieved by support group meetings and providing premises and facilities to carry this out.
Compliance with Public Benefit
The Parish has considered the Charity Commission for Northern Ireland's statutory guidance on public benefit to ensure that the activities entered into during the year have furthered the Parish's objectives, for the public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Boring Wells works primarily in inner East Belfast, from its premises, St Christopher’s, Mersey Street. This was a “closed” church within the Church of Ireland Parish of Ballymacarrett. There is an active Faith Community that gathers on a Sunday morning as part of the wider community however the main work is around Larder>East, a Community Food Hub.
No charge is made for the use of the building.
Worship
The faith community is an inclusive, progressive, welcoming space, allowing for the exploration of spirituality from a Christian perspective. It hosts a Pride brunch every year as part of Belfast Pride Week and a monthly community meal as well as a regular weekly gathering.
Larder>East Community Food Hub
Larder>East this year has continued to grow and expand as it seeks to address some of the issues around the accessing of good quality, locally sourced, nutritious food and the systems that restrict it.
It is very aware of the dangers of dependency on food banks and free food, the poor nutritional content of much of the food eaten and the increasing alienation of those from different socio-economic backgrounds. This has led to the dual membership model of the community food hub resourced through support from the public and various funders.
Larder>East is committed to sourcing its stock from local suppliers, where possible - and this has led to positive relationships with The Bethany Greengrocer, Brian Roberts (Milkman), Four Leaf Farm, Bakarí Bakery, Tullyveery Farm Produce, Allied Bakeries and Musgrave Cash and Carry.
Larder>East provides a dignified approach to accessing good food, with the hope of returning some agency to people who have been experiencing poverty and reducing barriers through dual memberships allowing individuals from different socioeconomic backgrounds to shop and enjoy good food together.
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BORING WELLS
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance (continued)
Larder>East Community Food Hub (continued)
Over 300 households have availed of the £5 per year membership with between 70 and 80 households accessing a highly subsidised shop every week, which includes a stable, regular supply of fresh bread, fresh milk, fresh fruit and veg and fresh eggs, along with a range of store cupboard items and herbs and spices.
It should be noted that both donors and members are multi-ethnic, all-age and from all religious backgrounds including “none”.
Dinner’s Done
Dinner’s Done is a popular, weekly, meal pack that uses pre measured ingredients, a simple recipe and ingredients from the Larder>East garden (when available). This provides important skills, removes barriers to participation and helps with the decision fatigue that accompanies meal planning.
The Kitchen
On Thursday evenings a simple meal is produced - usually with things on hand and any member who drops by can enjoy the great equalising effect of sitting around a table with others, live music is often available too. At other times tea, coffee and home baking is available.
Community Garden
In collaboration with Grow NI the Community Garden is bustling with activity and life. The resident gardener and herbalist (Who works 5 hours per week) supports a group of volunteers to nurture a sustainable garden that is as pretty as it is bountiful and healthful. These garden beds provide fresh fruit and vegetables, when in season, herbs for flavour and their healing properties and a connection with the earth that is good for our souls. The garden strengthens the connection between the green space and the food that is eaten and encourages members to try new foods.
The picnic benches and seats provided by Navigate Financial Services are in constant use and we also have a “Chatty Bench” as part of the East Belfast Community Development Agency Chatty Bench initiative on Mental Health.
Electric Top Ups
Through support from Christian Fellowship Church, Strandtown and St Columba’s Parish we were able to distribute electric top ups at Christmas.
Advice Service
As part of a Feeding Britain Project with Advice NI an advisor is available in Larder>East one morning a week.
Workshops
We have experimented with Workshops and Pop Up events, including women’s health sauerkraut making, gut health, medicinal teas, pea-shoot pesto making, migraine tincture and eczema balm workshops.
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BORING WELLS
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance (continued)
Other Connections
FARESHARE - Food redistribution project The Roma Hub East Belfast Community Development Agency East Belfast Mission East Belfast Independent Advice Centre East Belfast Churches Network Trussell Trust Advice NI Storehouse Save the Children Belfast City Council Together CIC Food Ethics Council Connswater (Homes) In this Together Glentoran Eastside Partnership Surestart CFC East Belfast Anti Poverty Alliance St Columba’s Grow NI Carrick Greengrocers Feeding Britain Navigate IFA
Financial review
The Statement of Financial Activities shows that the Parish had a net decrease in unrestricted general resources amounting to £27,453 (2022: increase of £59,739), a net increase in unrestricted designated funds amounting to £3,894 (2022: increase of £6,136) and a net increase of restricted resources of £27,291 (2022: decrease of £525). At the year-end our total funds amounted to £240,327 (2022: £236,595).
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a sufficient level. At the year end the unrestricted reserves totalled £212,561 (2022: £236,120). The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. We have retained significant reserves for a number of reasons. In principle we retain nine months’ operational costs. The premises we use may well be in need of significant maintenance and although we are a tenant the landlord has no resources to do this so it falls to us to enable us to continue our activities. We have a relatively short and uncertain tenancy so we need to maintain significant reserves to enable us to move premises which may happen at short notice. We also are retaining reserves in anticipation of perhaps needing new staff as the charity develops its work.
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BORING WELLS
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. However, at the time of approving the financial statements, the trustees have established a new company with new memorandum and articles to succeed the present company. The charity originally was a network of different projects but is now one project so its objects needed to be articulated in a different way. These new memorandum and articles have been agreed by the Trustees, the company had been registered and we await final approval from the Charities Commission and HMRC. The new company is "The Larder Belfast", Company number NI715819. The balance of our funds will be transferred to this new charity, in accordance with our present provisions, we hope early in 2025 and the current company will close. The new company will continue the charitable work on an uninterrupted basis. Consequently, the trustees have not adopted the going concern basis of accounting in preparing the financial statements but rather an “Orderly Realisation Basis”. The significant impact of this is that depreciation of fixed assets had been increased to reflect their impairment of value down to nil. This increases depreciation from £380 on the former basis to £1521 on the new basis an increase of £1141.
The results for the year are set out in the attached financial statements.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a company limited by guarantee and was set up by a Memorandum of Association since its incorporation on the 9 June 2009. The charity is registered in Northern Ireland under number NI072847.
The company is registered as a charity with the Charity Commission under the registration number 102637 and accepted by HMRC as a charity under the reference XT13985.
The charity's address is St Christopher's, 70 Mersey Street, Belfast, BT4 1EW, Northern Ireland. This is also the company's registered office address.
Trustees delegate day-to-day management to Mrs M. Louise Ferguson.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Principal Office Bearers
Chairperson: Mr G McDade Treasurer: Mr M McCann Secretary: Mrs Alison Craig
The board have undertaken training in Governance (provided by NICVA). Insurances are in place. Safeguarding Trust (the policy of the Church of Ireland regarding child protection and protection of vulnerable adults) is in place.
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BORING WELLS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of trustees, responsibilities The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in Northern I reland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charty and of the incoming resources and application of resources including the income and expenditure of the charity for that year. In preparing these financial ststements, the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subjert to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless tt is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charty and enable them to ensure that the financial 5tstements compty 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 detertion of fraud and other irregularities. The trustees, report was approved bythe Board of Trustees. Mr M Mccann - Director Date...... PtC/JAn& . Director