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 [32.4ti I f.L38.983.4i% .P5,3362816 105,86633 ankuel F.3.rtrJ FUtk£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<ed demand. Although the Foodbank is expecting a signtficant increase in net expense in 2024 compared to 2023, it will neverthclcss be able to fund this out of reserves it has built up in the past.
South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2023 Reserves policy The trustees consider that, due to its reliance upon voluntary donations, the Foodbank should have a policy of holding at least six months, running costs, totalling approximately £80k in free reserves. Free reserves are unrestricted reserves (net of designated funds) which are not invested in fixed assets or stock and are held to cover shortfalls in funding and provide working capital. For the Foodbank, the designated fund of £62k is in respect of the irrevocable propety lease commitments. The trustees are pleased to be able to report that the level of free reservcs was £224k as at 31 December 2023 (2022: £270k) i.e. £144k higher than that required to cover six month's running costs. The current level of free reserves will enable the Foodbank to meet the increased demand for its services by continuing to expand the range of its operations and activities. Preparation of the accounts on a going concern basis The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant infonnation, including tlie annual budget and future cash flows in making their assessment. Based on this assessment together with mitigating measures that could be taken and the current available resources, the trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Funding strategy We have a Funding Strategy and Fundraising Plan to ensure that we secure the funds required to deliver all our charitable activities. We are especially grateful to those significant donors who have continued to support us. Risk management The Foodbank has a wide range of policies in place which provide it with the means to manage the key risks. These policies includ¢ those for health and safety, safeguarding, infonnation security, finance and employment and codes of conduct for staff and volunteers. INCORPORATION The charitable company was incorporated on 27 January 2021.
South Belfast Foodbank (Registered number.. N1675930) Report of the Trustees for the Year Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND AD]I(INISTRATIVE DETAILS Registered Company number N1675930 (Nortliern Ireland) Registered charity number 108835 Registered office 119 University Street Belfast Co. Antrim BT7 IHP Trustees Dr Aine Lockhart Mrs Margaret Elizabeth Keown Mr Sean Gallagher Mrs Rosemary Tollerton Dr Niall George Collum Mr Michael Patterson Ms Elaine Roub Retired GP (Chairperson) Retircd solicitor (Deputy chairperson) Chartered Accountant (Treasurer) Retired Legal Secretary (Company Secretary) M¢dical Doctor Local Government Manager Charity Regional Manager (Appointed 4 January 2024) Independent Examiner Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstonc Street Lisburn Co. Antrim BT28 1 TP Approved by order of the board of trustees on 23 May 2024 and signed on its behalf by: IA& LocLbYL bty . Dr Aine Lockhart- Trustee
Independent Examiner's Report to the Trustees of South Belfast Foodbank I report on the accounts of the company for the year ended 31 December 2023, which are set out on pages nine to eigliteen. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have exam ined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the Charity and a comparison of tlie accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whetlier any material matters have come to my attention giving me cause to believe: That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with thc accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordano¢ with the Financial Reporting Standard applicable in the UK and R¢public of Ireland That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confinn that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in Ireland which is one of the listed bodies. I have completed my examination and have no concerns in respect of the matters ( l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. John Mccleary FCA Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Aiitriin BT28 ITP Date: 23 May 2024
South Belfast Foodbank Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 271.435 32,115 303.550 323,230 Investment income 6,124 Total 277,559 32,115 309,674 323,230 EXPENDITURE ON CHARITABLE ACTIVITIES Support costs Direct costs 6,390 266,862 1,913 8,303 302,806 7,248 217,847 Total 273,252 37,857 311,109 225,095 NET INCOME/(EXPEIYDITURE) 4,307 (5,742) (1,435) 98,135 RECONCILIATION OF FUIYDS Total funds brought forward 309,762 34.896 344,658 246,523 TOTAL FUNDS CARRIED FORWARD 314,069 29,154 343,223 344 658 The notes forni part of these financial statements
South Belfast Foodbank (Registered llumber.. N1675930) Statement of Financial Position 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 2,767 2,767 4,612 CURRENT ASSETS Stocks Debtors Cash at bank 24,641 14,395 273,994 24,641 28,549 288 994 34.382 33,494 274,902 14,154 313.030 29,154 342,184 342,778 CREDITORS Amounts falling due within one year 10 (1,728) (1,728) (2,732) NET CURRENT ASSETS 311,302 29,154 340,456 340,046 TOTAL ASSETS LESS CURRENT LIABILITIES 314,069 29,154 343,223 344,658 NET ASSETS 314,069 343,223 344 658 FUI¥DS Unrestricted funds Restricted funds 314,069 29,154 309,762 34,896 TOTAL FUNDS 343,223 344 658 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance witli Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting Tecords that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at tlie end of each financial year and of its surplus or deficit for each fInancial year in accordance with the requtrements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. The notes fonn part of these financial statements 10
South Belfast Foodbank (Registered number: N1675930) Statement of Financial Position - continued 31 December 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2024 arftd were signed on its behalf by: Tr6 Mr Sean Gallagher - Trustee e . Dr Aine Lockhart - Trustee The notes fom] part of these financial statements
South Belfast Foodbank Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of cconomic benefits will be rcquired in settlement and tlie amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. Motor vehicles 250/0 on Cost Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are a portion of unrestricted funds that have been set aside for a particular purpose by the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial stateineiits. 12
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. INVESTMENT INCOME 31.12.23 31.12.22 Deposit account interest 6,124 NET INCOMEI(EXPENDITURE) Net income/(expenditure) is stated after charging: 31.12.23 31.12.22 Depreciation - owned assets 1,845 1,845 TRUSTEES, REMUNERATION ArD BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.23 31.12.22 Administration No employees received emoluments in excess of £60,000. 13
South Belfast Foodbank Notes to the Financial Statements- continued for the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEllNT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND EIYDOWMENTS FROM Donations and legacies 288,485 34.745 323,230 EXPEIYDITURE ON Charitable activities Support costs Direct costs 6,558 206 213 690 11,634 7.248 217,847 Total 212,771 12,324 225,095 NET INCOME 75,714 22,421 98,135 RECONCILIATION OF FUNDS Total funds brought fonvard 234,048 12,475 246,523 TOTAL FUIYDS CARRIED FORWARD 309,762 34,896 344,658 TANGIBLE FIXED ASSETS Motor vehicles COST At l January 2023 and 31 December 2023 7,379 DEPRECIATION At l January 2023 Charge for year 2,767 At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 14
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2023 STOCKS 31.12.23 31.12.22 Stocks 24,641 34,382 DEBTORS: AMOUNTS FALLING DUE IIIITHIN ONE YEAR 31.12.23 31.12.22 Other debtors Prepayments 26,572 1,977 31,696 1,798 33,494 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Accrued expenses 1,728 2,732 11. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Designated fund 309,762 4,307 (61,767) 61,767 252,302 61,767 309,762 4,307 314,069 Restricted funds Bankuet fund Donation re purchase of defIbrillator Fuel bank Trussell: Strategic fund Trussell.. Winter support grant 9,818 2,000 7,078 15,000 1,000 (3,664) (2,000) 922 6,154 8,000 15,000 34,896 5,742 29,154 TOTAL FUNDS 344,658 1,435) 343,223 15
South Belfast Foodbank Note5 to the Financial Statements - continued for the Year Ended 31 Deeember 2023 11. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds. Transfer Unrestricted funds General fund Designated fund 277,559 (273,252) (61,767) 61,767 (57,460) 61.767 Restricted funds Bankuet fund Food funding Donation re purchase of defibrillator Fuel bank Trussell.. Strategic fund Trusscll: Winter support grant 3,098 1,082 (6,762) (1,082) (2,000) (12,013) (15,000) (3,664) (2,000) 922 12,935 15,000 1,000) 37,857 5,742 TOTAL FUNDS 309,674 311,109) 1,435) Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 234,048 75,714 309,762 Restricted funds ASDA Bankuet fund Donation re purchase of defibrillator Fuel bank Trussell: Strategic fund Trussell: Winter support grant 5,164 7,311 (5,164) 2,507 2,000 7,078 15,000 9,818 2,000 7,078 15,000 1,000 12,475 22,421 34,896 TOTAL FUNDS 246,523 98,135 344,658 16
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2023 11. MOVEMENT FUNDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds. Unrestricted funds General fund 288,485 (212,771) 75,714 Restricted funds ASDA Bankuet fund Food funding Donation re purchase of defibrillator Fuel bank Trussell: Strategic fund Trussell.. Winter support grant (5,164) (851) (1,387) (5,164) 2,507 3,358 1,387 2,000 8,000 15,000 5,000 2,000 7,078 15,000 1,000 (922) 4,000) 34,745 12,324 22,421 TOTAL FUNDS 323,230 225,095) 98,135 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between funds At 31.12.23 At 1.1.22 Unrestricted funds General fund Designated fund 234,048 80,021 (61,767) 61,767 252,302 61,767 234,048 80,021 314,069 Restricted funds ASDA Bankuet fund Fuel bank Trussell.. Strategic fund 5,164 7,311 (5,164) (1,157) 8,000 15,000 6,154 8,000 15,000 12,475 16,679 29,154 TOTAL FUNDS 246,523 343 223 17
South Belfast Foodbank Notes to the Financial Statements- continued for the Year Ended 31 December 2023 11. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds. Transfer Unrestricted funds General fund Designated fund 566,044 (486,023) (61,767) 61,767 18,254 61,767 Restricted funds Bankuet fund ASDA Food funding Donation re purchase of defibrillator Fuel bank Trussell.. Strategic fund Trussell: Winter support grant (5,164) (7,613) (2,469) (2,000) (12,935) (15,000) 5,000) (5,164) (1,157) 6,456 2,469 2,000 20,935 30,000 5,000 8,000 15,000 66,860 50,181 16,679 TOTAL FUNDS 632,904 536,204) 96,700 Purpose of Restricted Funds as at 31 December 2023: Bankuet Fund- This is a fund resulting from donations to Bankuet, where use of the fund5 is restricted to the purchase of food related items: Fuel bank- Donations to be us¢d to alleviate fuel poverty.. Trussell: Strategic fund- A fund to support the charity's move to university street, Belfast.. 12. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 December 2023. 13. DESIGNATED FUND The designated fund represents a fund set aside to coer three irrevocable property lease cornmitments. These three lease commitments will come to an end in the period April 2024 to November 2025. 14. ColPARATIvE FIGURES Certain comparative figures have been reclassified to conforni with the presentation adopted for the current period. 18
Soutb Belfast Foodbank Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND EfqDOWMENTS Donations and legacies Fundraising Donations Gift aid Grants Donated goods 32,149 101,369 13,226 15,500 141,306 32,426 117,224 14,598 20,000 138,982 303,550 323.230 Investment income Deposit account interest 6,124 Total incoming resources 309,674 323,230 EXPEI¥DITURE Charitable activities Wages Pensions Rent and Tates Insurance Light and heat Telephone Postage and stationery Prernises alterations Repairs & maintenance Computer equipment & software Consumables and equipment Cleaning & hygiene Vehicle expenses Staff training Miscellaneous Donated goods distributed Food purchases and delivery Fuel vouchers distributed 48,565 1,904 42,243 3,677 3,264 1,517 537 8,968 1,642 1,727 4,073 6,315 1,461 2,226 90 151,047 12,943 10,607 42,171 1,621 16,622 2,778 2,123 1,150 314 13,101 1,026 3,739 1,758 4,483 865 1,373 60 116,227 7,603 833 302,806 217,847 This page does not forn] part of the statutory financial statements 19
South Belfast Foodbank Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 Support costs. Management Legal fees - General Legal fees - Employment 458 720 1,320 60 Finance Fuel bank fees Bankuet fees Bank charges 1,406 507 156 89 601 236 Other Depreciation of motor vehicle 1,845 1,845 Governance costs Accountancy fees 3,211 Total resources expended 311,109 225 095 Net (expenditure)lincome This page does not fonn part of the statutory financial statements 20