REGISTERED COMPANY NUMBER: N1675930 (Northern Ireland) Report of the Trustees and Financial Statements for the Year Ended 31 December 2023 for South Belfast Foodbank (A Company Limited by Guarantee) South Belfast Foodbank Contents of the Financial Statements for the Year Ended 31 December 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position 10 to 11 Notes to the Financial Statements 12 to 18 DetaiIed Statement of Financial Activities 19 to 20 South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 The trustees, whose contribution is entirely voluntary, and who are also dircctors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective l January 2019). Charitable objectives The prevention or relief of poverty in South Belfast, in particular but not exclusively, by., Providing eTncrgency food supplies directly to people in need. or via other anti-poverty charities and organisations, from time to time as we see fit. Providing tailored support and information in accordance with Christian principles, including but not exclusively. signposting, outreach and training courses, designed to improve a person's well-being and chances of getting out of poverty. Working in strategic partnership witl) other key anti-poverty charities and organisations to offer Iiolistic, more than food" solutions to people's needs. Review of year The year started off with a major development for the Foodbank- we took possession of our new premises at 119 University Street. Of course, it took us a few weeks to get the building fit for purpose but neverthelcss we were able to open the doors in January 2023 and continued with our traditional mode of operation i.e. face-to- face sessions. In addition, we have had an increased focus on signposting to other services like debt management and benefit advice, as well as supermarket style sessions which afford choice to our clients. At the South Belfast Foodbank, we are so grateful for the support and generosity of our community. Th¢ commitment of regular donors (wliether individuals or groups such as Churches/businesses and whether it be food or money) has been staggering. Without those big and small donations, we could not continue to make the impact that we do for those people in need. Indeed, it is those donations, made over the years, which hav¢ allowed us to tske out a 5-year lease on thc University Street propety- a significant financial commitment. We were also supported by Trussell in acquiring the lease i.e. we were successful in obtaining the Strategic grant of £15,000 pa for 2 years which will cover over 500/0 of the lease rental payments in 2023 and 2024. Our new home in University Street is a key enabler in achieving our objective of treating those in need with compassion and dignity. We are delighted that the building has come alive as a hub, where our brilliant staff and volunteers have created a vibrant space into which our clients are welcomed by the friendly smiles of our session teams, the signposting support they can offer and the access to our supermarket style food distribution centre, filled with food donations from our very generous local community. We have achicved our objective of being visible and accessible and feel embedded within inner South Belfast which is an area of high deprivation with a high degree of rentals/hostels and asylum seeker accommodation. As a result, those in need have been able to find our offIce far more easily and, for many, the distance they travel to access help has been dramatically cut. Whilst we received 59,623kg (2022.. 58,642kg) in food donations, the demand was so significant in 2023 that 63,733kg (2022.. 50,779kg) of food was distributed to those in need. As a result, our holding of stock fell from 14,507kg as at 31 December 2022 to l 0,397kg as at 31 December 2023. In addition, the Foodbank purchased food costing £12,943 (up from £7,603 in 2022). We have been able to feed a staggering 7,556 people during the year - with 2,977 of those being children. 2.947 referrals were made in 2023. As a Board. we are very proud of the services provided by South Belfast Foodbank. It's clear that we have South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 Review of year {eontinued) been able to stand alongside those struggling through a cost-of-living crisis when everyday costs have Temained high and are even going up further. It's sometimes hard to imagine just how hard it's been for some people, but knowing we have been able to share both the donated and purchased food with people who are hungry is what continues to drive us forward. To try to meet the ever-increasing demand for our services, we have been able to introduce more sessions e.8. we have successfully added a new Monday niglit session {7pm- 9pm) which launched on 6 March 2023 and are planning a Tuesday night session to start in late Spring of 2024. The key emphasis of these sessions is catering to people who are in work and unable to come to our Foodbank during nornial office hours. The cost of energy is one area where the cost-of-living crisis has been most keenly felt. It's difficult to believe that some people in South Belfast are today living without Iieat, light and power....and it's getting worse. As a result, we have teamed up with the Fuel Bank Foundation who. along with two charitable trusts, have made generous donations which are being used to relieve fuel povety. During 2023, we issued 266 vouchers which supported 808 people (including 329 children). For 2023 we set ourselves an objective to increase the amount of training we offer to our volunteers - to help them feel better supported, valued and equipped. Our new building affords us the space to host key training events, now that we have a large multi-purpose training room. Since we moved in, we have run several in- house training sessions for our volunteers, mostly looking at increasing the skills of volunteers when making signposting - as we believe signposting to other wrap-around support could be a key enabler that unlocks a person's dependency on our Foodbank. Whilst so much has been possible with our move to University Street, it is our team of nearly l 00 fantastic volunteers that really makes the difference! The challenges tlie South Belfast Foodbank faces are not unique. Indeed, there are 3 other foodbanks in Belfast. Whilst we have worked with these foodbanks in the past, during 2023 there has been an increased focus on how we obtain a greater understanding of the challenges we all face as well as developing greater working relationships. As a result, Trussell has provided funding for 2 years to employ a local organiser to: Build relationships across the four food banks, with food bank users, volunteers and staff. Engage and listen to Communtties across Belfast and stakeholders to understand the local drivers of Build a volunteer campaigns team. Identify what change is needed locally to help end the need for foodbanks. Identify an influencing target and build support amongst allies. Develop a campaign strategy and plan. Deliver these plans with the volunteer team. Work with the Trussell Trust team. Assist the four foodbanks to engage with Trussell Trust's central priority campaign activitle5. South Belfast Foodbank has agreed to take on the role of 'lead' foodbank and therefore holds the proposal and grant process With the Trussell Trust on behalf of the Trussell foodbank collaboration in Belfast. The four Belfast foodbanks decided to work with Belfast Central Mission (BCM) on this project with the result that the local organiser will be based primarily at BCM headquarters, but with a high degree of operational mobility across the Belfast area. BCM will support the work of the local organiser on an operational level. and where possible will align their own campaigning and activities in support of such campaigns. This is an exciting opportunity which is expected to have a positive impact for the four Belfast foodbanks and the clients we help. South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 Awareness raising activity The Foodbank seeks to raise awareness of its activities through relationships with local organisations. A supportive network of businesses, like-minded charities, individual donors and in particular a broad range of local churches, has developed through face-to-face meetings and presentations, infom]ation provided on our social media plarfornis and volunteering opportunities offered to corporate groups and individuals. All of these activities increas¢ the interest and understanding of those involved and encourage a compassionate response to the needs of those in poverty in South Belfast. This is evidenced by the generosity expressed in monetary, and food donations and offers of help. The Foodbank also uses its website, Facebook pages and X (fonnerly known as Twitter) to promote a greater awareness about the challenges of living in poverty and our work to reduce its effects on people's lives. Regard to public benefit When exercising any powers or duties in the operation of the Foodbank, the trustees have complied with their duty to have due regard to the guidance issued by the Charity Commission on public benefit. Contribution made by volunteers The contributions of volunteers to the services the Foodbank provides are immeasurable. We are grateful for their compassion, commitment and contribution to all aspects of the Foodbank's services. Future-proofing The Foodbank plans to continue its development and strengthen its capacity to tackle hunger and povety in South Belfast. In particular, the Foodbank will aim to: Recruit additional trustees to the Board. Enhance the Foodbank's governance and management. Produce a new three-year stratcgy and business plan. Review and improve our policies, procedures, and practices. Listen to what our clients and volunteers tell us matters to them. Influence local government and show leadership to tackle hunger and poverty. Improve our PR and fundraising activities to underpin the value of our work. Financial review Overall, the Foodbank reported a net expense in the year ended 31 Decembcr 2023 of £1,435 (2022: net income of £98,134). The cliange from net income in 2022 to a net expense in 2023 was driven by a combination of a reduction in income of £13,556 (4%) and an increase in expenses of £86,014 (380/0). The net expense in the year ended 31 December 2023 was funded out of reserves brought forward from 2022. Income.. 2023 v 2022 Overall income has fallen by £13,556 in 2023 compared with 2022. The key driver of this fall was in respect of direct donations. Excluding direct donations, income was up by £6,974 driven by interest on the deposit account (up £6,124), Fuel bank donations (up £4,935), goods donated (up by £2,324) but partially offset by lower grant income (down £4,500) and gift aid (down £1,372). South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 Financial review (continued) Income.. 2023 v 2022 (continued) During COVID the restrictions introduced by the UK Government meant that donations of food fell significantly and were more than replaced by cash donations. As these restrictions were lifted and society returned to a version of iiormality, direct donations declined. The reduction in direct donations, in 2023 compared to 2022, was driven by lower donations from individuals (down £14,430), churches (down £8,094) and businesses (down £1,830). Donations from supennarkets were up by £3,824 (this included an exceptional donation of £5,000 from Tesco and represents th¢ Foodbank's share of Tesco's £ I m donation to foodbanks and food charlties after foodbanks launched an emergency appeal). 2023 Incomo. E309,674 2022 Income £323,230 [32.4*ti I￿￿* f.L38.983.4i% .P5,3362816 105,86633 ankuel F.3.rtrJ FUt￿￿k£ll.9)j 4% Grdrtl%ÈJ5.JQO £r&n15120,0 FvtlbJnkL8.OOD SrliArtI E14dtrg1 20?3 Direct donations £85.336 2022 Direct donotions £105,866 Churthps E7,538_ E8.W48 £$4.U665L 126.23431¥ ÉaY.OJ64 128.D61 ?6% South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 Financial review (continued) Expenses.. 2023 v 2022 (conlinued) Expenses, 2023 compared to 2022, have increased by £86,014. The key drivers of this increase have been: Goods and fuel distributed to those in need has increased by £49,934 i.e. up from £124,663 in 2022 to £174,597 in 2023. This reflects the impact of the cost-of-living crisis on our society and the additional sessions the Foodbank has run to meet the needs of those in povety. It is notable that the Foodbank has significantly increased its direct purchases of food i.e. the Foodbank spent £12,943 on this in 2023 compared to £7,603 in 2022. One of Foodbank's key objectives has been to have a significant presence in South Belfast. We achieved this when we opened our new home in University Street. Our new home has been a key enabler in achieving our objective of treating those in need with compassion and dignity. However, this has come at a cost i.e. property related costs have increased from £37,355 in 2022 to £62,432 in 2023. The key element of this increased cost has been the rental costs of University Street, currently £28,800pa. Staff related costs have increased from £45,165 in 2022 to £52,695 in 2023. In addition to increasing the Foodbank's staff salaries in line with National Joint Council for Local Government Services, pay scales, we also undertook a review of employees, responsibilities which led to upward regrades. 2023 E¥penses £311,109 2922 Expense.s f.225,095 OihFicMu t9?5 £? 2-1%3 È&.3033 ¥N E52.695 5tJl'.rel)t oStS£37.355 17% Financial outlook The Foodbank reported a net expense of £1,435 in 2023. It is expected that the Foodbank will report a significantly higher net expense in 2024 as a result primarily of: Lower incotnc in respect of grant income and supermarket collections as these income sources included an element of non-recurring income in 2023. Higher expenditure on direct purcliases of food in order to meet the increa