REGISTERED COMPANY NUMBER: N1675930 (Northern Ireland) Report of the Trustees and Financial Statements for the Year Ended 31 December 2024 for South Belfast Foodbank (A Company Limited by Guarantee)
South Belfast Foodbank Contents of the Financial Statements for the Year Ended 31 December 2024 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 Detailed Statement of Financial Activities 19 to 20
South Belfast Foodbank (Registered number: IY1675930) Report of the Trustees for the Year Ended 31 December 2024 The trustees, whose contribution is entirely voluntary, and who are also directors 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 2024. 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 emergency 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 povety and Working in strategic partnership with other key anti-poverty Charities and organisations to offer holistic, more than food solutions to people's needs. Review of year Foodbank operalions The Foodbank received 55,195kg (2023: 59,623kg) in food donations and distributed 54,636kg (2023.. 63,733kg) of food to those in nced. As a result, our holding of stock increased from l 0,397kg as at 31 December 2023 to I1,045kg as at 31 December 2024. In addition, the Foodbank purchased food costing £14,859 (up from £12,943 in 2023). We have been able to feed 7,963 people (2023: 7,556) during the year- with 2,852 (2023: 2,977) of those being children. 3,460 referrals were made in 2024 (2023: 2,947). The Foodbank introduced a new bookings platfonn. As a result, we can upload client data from the Data Control System (DCS) and then our bookings team Can contact the clients to offer them a slot at a time they'd like to come, giving them choic¢ and dignity. Once an available appointment is chosen by the client, the system automatically adds that client's inforniation into that appointment slot, and then a text message confirniing the details is automatically sent to the Client via SMS. Additionally, a reminder SMS text is automatically sent out the day before the scheduled appointment. University Street We have now settled into our new home in University Street in Belfast, right in the heartland of where the people who need our help live. Our location has significantly improved our visibility, and our integrated premises have similarly improved our operation in that we are able to offer a 'Pick your own, shop. Each person referred to our Foodbank is given a bespoke timeslot in which they can choose their own food against an accompanying Trussell food allocation list, promoting both choice and dignity. In addition, an on-site and pleasant office space has been made available to our two staff members, and volunteers have a secur¢ room where personal belongings can bc stored, and relevant posters displayed. We are very appreciative of the support we have received from Trussell, particularly the Strategic Grant of £15,000 for two years which made a significant contribution towards the rent expense of University Street in 2023 and 2024.
South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2024 Clients with vital lived experience In the last year we have been able to host a small group of Foodbank clients with vital lived experience. This was a strategic goal for us in 2024 and our intention in 2025 is to establish an advisory group, made up of clients and a few volunteers. Fuel bank We have partnered with the Fuel Bank Foundation who have funded the fuel vouchers which we have issued in 2024. During 2024 660 vouchers were redeemed (2023: 266 vouchers) at a value of £27,149 (2023.. £10,607) which assisted 2,458 people (2023: 808)- Organising andLocal MobilEsation (OLA4) Projecl Last year we reported that the Foodbank had agreed to take on the role of ' lead, foodbank in Belfast for the OLM project. This means that the Foodbank holds the proposal and grant process with the Trussell Trust on behalf of all the Trussell foodbanks in Belfast. The purpose of the OLM project is to support foodbanks as they develop effective campaign strategies, ensuring that the foodbanks have the capacity, skills and resources to deliver them. The four Belfast foodbanks decided to work with Belfast Central Mission (BCM) on this project with the result that the local organiser has been appointed and is based primarily at BCM headquart¢rs, but with a high degree of operational mobility across the Belfast area. Trussell has provided funding for two years for this project. During 2024 the Foodbank received £55,682 in funding from Trussell for this project which it has paid to BCM to cover its costs. The OLM project has just completed the first year of its expected project lifc of two years. The local organiser has been Icading and supporting a range of activities tackling food insecurity across Belfast. The purpose of these activities is to- Drive change at the grassroots level Advocate for systemic changes that promote food justice and Promote thc establishment of campaigns to tackle food insecurity. Over the last year, the local organiser has worked closely with volunteers, individuals who have experienced food insecurity, and local partners, building strongcr networks and mobilising efforts for lasting change. Volunteer strategy Over the last year we have been developing a cleat volunteer strategy for the Foodbank. In September 2023 we set out to: Assess organisational need and purpose for volunteers. Reduce volunteer waiting list and establish clear recruitment pathways. Develop and implement an agreed Volunteer Strategy which establishes fit-for-purpose recruitmenl training, supervision and support of volunteers. and the staff members working with them. Since September 2023, the Foodbank staff and board members have worked together to assess our organisational need and purposes for volunteer involvement. We no long¢r have a volunteer waiting list. Instcad, specific roles are placed on our website and when potential volunteers apply for these rolcs online, they are immediately communicated with and invited to induction opportunities. Whilst volunteers may come to us through different avenues, they all now go through the same recruitment pathway of application, reference checks, infornlation sessions, induction and being placed on a team (or deferredlrcdirected if needed). In 2025 we will continue to develop our volunteer strategy.
South Belfast Foodbank (Registered number.. N1675930) Report of the Trustees for the Year Ended 31 December 2024 Financial Inclusion One of the main strategic aims over 2024 has been to increase the range of signposting that we offer and we are actively working towards applying for a grant from Trussell to set up and deliver a Financial Inclusion (FI) project. FI will provide holistic support to ensure that those in financial crisis or facing destitution will receive assistance to maximise their income, minimise debt and prevent the need for repeat visits to the Foodbank, where possible. We are now approaching the end of the planning phase which has included many meetings with Trussell, internal Foodbank discussions as well as analysing client data. We now expect the Financial Inclusion project to be operational by the summer of 2025. 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, information provided on our social media platforms and volunteering opportunities offered to corporate groups and individuals. All of these activities increase 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 An monetary, and food donations and offers of help. The Foodbank also uses its website, Facebook pages and X (fornierly 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 ateful 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 poverty in South B¢lfast. In particular, the Foodbank will aim to: Recruit additional trustees to the Board. Enhance the Foodbank's governance and manag¢ment' Produce a new three-year strategy 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. Develop further its relationship with Trussell. Trussell works locally and across the UK for a more just and compassionate society where no one needs a foodbank to survive.
Soutb Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2024 Financial review Overall, the Foodbank reported a net expense in the year ended 31 December 2024 of £8,618 (2023.. £1,435). The net expense in the year ended 31 December 2024 (and year ended 31 December 2023) was funded out of reserves brought fonvard. Income.. 2024 v 2023 Overall income increased by £66,033 in 2024 compared with 2023. The key drivers of this increase were: Grant funding of £55,682 from Trussell in respect of the appointment of a local mobilisation officer. This officer is employed by Belfast Central Mission and works on behalf of the four Trussell foodbanks in Belfast. In 2023 the Foodbank received the second and final instalment of the Strategic Grant of £15,000. Additional funding from the Fuel Bank Foundation (i.e. £30,769 in 2024 comparedto £12,935 in 2023) to cover the increased level of fuel vouchers distributed to those in need- A higher value in food donated to the Foodbank (i.e. £157,295 in 2024 compared to £141,306 in 2023). There was a decrease in income from: Fundraising activities i.e. 2024 £25,256 v 2023 £32,149 Gift aid i.e. 2024 £7,520 v 2023 £13,226. This decrcasc in income was largely due to an understatement of the estimate of the gift aid debtor as at 31 December 2022. The level of direct donations in 2024 i.e. from individuals, businesses, churches and supermarket collections was broadly similar to that in 2023 i.e. £88,453 v £85,336. 2024 Income £375.707 2023 Income £309,674 Good5done ÈIS7.2954Z EeB,453231b 5.256716 G¢odsoonaied E143W64Slb É32.149 1 Olrtcidonaiior ÉUSJ36264b InieieStÈ7160 246 IGitfvJdE7.S20 24fi GihPidE11228 49b 8Ènkupl E3.471_ FuEalE30. alb Grants £55. 15% &ant5£&SQO nkuplE3.OY8 14b FueibankÉ12,935 4q&
Soutb Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2024 Financial review (continued) Income.. 2024 v 2023 (continued) 2024 Direct donations £88,453 2023 Direct donations £85,336 Gilllrom ChurGhesÈ9hO7_ li 5upenn4rkei olliciion5 È11,828144b Cluiches£7.6J8 £10.280124t £2e.Js032 É39.63646% .2313141 È40.0164S41 Expenses.. 2024 v 2023 Expenses, 2024 compared to 2023, have increased by £73,216. The key drivers of this increase have been: The grant paid to Belfast Central Mission of £55,682 to cover the costs of the local mobilisation officer. The increased need for fuel vouchers resulted in an additional expense in 2024 of £16,542 i.e. the expens¢ was £27,149 in 2024 compared to £10,607 in 2023. The Foodbank incurred an alterations expense of £8,968 in 2023 as a result of its move to its new home in University Street which was not repeated in 2024. 2024 Expenses £384,325 2023 Expenses £311,109 ottiCPE05t5 £7.fj412 supr5 Ell,6863gb GrantIn$e 55.882 14 -E2,l (Aherco -£1.5511¥ SuppDrtcDs £8.3D33%_ InsuranctQ.677 E3.7ei i E50,094U -51aff reLiledcosls B52.5 171 Propertyielaie $15É6UM44 16 1111 GoodsdiSTiib El619&3 Fuel¥Qu¢[S a1llted 27.149741 PtQPEftyteLited ¢QSts£f6.50S Z14b FuelvouchÈrs' GCod5di5trDU1¢d., É165.01943% IQ.E0739b
South Belfast Foodbank (Registered number: IY1675930) Report of the Trustees for the Year Ended 31 December 2024 Financial review (continued) inancial outlook The Foodbank reported a net expense in 2024 of £8,618 (2023: £1,435). It is expected that the Foodbank will report a net expense again in 2025 which will be funded out of reserves it has built up in the past. Reserves policy The trustees consider thaL due to its reliance upon voluntary donations, the Foodbank should have a policy of holding at least six months, running costs, totalling approximately £75k (2023: £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 £31 k is in respect of the irrevocable property lease commitments. The trustees are pleased to be able to report that the level of free rcs¢rves was £260k as at 31 December 2024 (2023: £224k) i.e. £185k (2023.- £144k) higher than that required to cover six months, running costs. The urrcnt level of free reserves will enable the Foodbank to meet the in¢r¢ased 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 information, including the 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. Wc ale 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, inforniation security, finance and employment and codes of conduct for staff and volunteers.
South Belfast Foodbank (Registered number: N1675930) Report of the Trustees for the Year Ended 31 December 2024 INCORPORATION The charitablc company was incorporated on 27 January 2021. STRUCTURE, GOVERNANCE AND IVIANAGEIVIENT Governing document Thc charity is controlled by its governing document, a deed of knsL and constitutes a limited company, limited by guarantee, as defIned by the Companies Act 2006. REFERENCE AND ADllItNISTRATIVE DETAILS Registered Company number N1675930 (Northern Ireland) Registered charity number 108835 Registered oifice 119 Univcrsity Street Belfast Co. Antrim BT7 IHP Trustees Mrs Margaret Elizabeth Keown Dr Aine Lockhart Ms Orla Bateson Mr Sean Gallagher Ms Elaine Roub Mrs Rosemary Tollerton Retired Solicitor (Co-chairy)erson) Retired GP (Co-chairperson) Civil Servant (Appointed 23 May 2024) Chartered Accountant (Treasurer) Charity Regional Manager Retired Legal Secretary (Company Secietary) Mr Michael Patterson resigned as a director on 28 May 2024. Dr Niall George Collum resigned as a director on 17 April 2025. Independent Examiner Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Approved by order of the board of trustees on 15 May 2025 and signed on its behalf by.. Dr Aine Lockhart - Trustee
IndependeDt Examiner's Report to the Trustees of Soutb Belfast Foodbank I report on the accounts of the company for the year ended 31 December 2024, which arc set out on pagcs nine to eighteen. 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 examined 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 Nortliern 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 the accounts presented with those records. It a150 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 whcther any matcrial matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with Section 3 86 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requircments of Section 396 of thc Companies Act 2006 and with the methods and principles of the 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 That there is further information needed for a proper understanding of thc 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 I am qualified to undertake the examination because I 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 Ircland, 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. Antrim BT28 ITP Date: 15 May 2025
South Belfast Foodbank Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWIVIENTS FROM Donations and legacies 278,525 89,922 368.447 303,550 Investment income 7,260 7,260 6,124 Total 285,785 89,922 375,707 309,674 EXPENDITURE ON CHARITABLE ACTIVITIES Support costs Direct costs 7,175 268,735 4,510 103,905 11,685 372,640 8,303 302,806 Total 275,910 108,415 384,325 311,109 NET INCOMEI(EXPENDITURE) 9,875 (18,493) (8,618) (1,435) RECONCILIATION OF FUNDS Total funds brought forward 314,069 29,154 343,223 344,658 TOTAL FufiDS CARRIED FORWARD 323,944 10,661 334,605 343,223 The notes forni part of these financial statements
South Belfast Foodbank (Registered number: N1675930) Statement of Financial Position 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 922 922 2,767 CURRENT ASSETS Stocks Debtors Cash at bank 31,776 10,444 281537 31,776 21,105 281,537 24,641 28,549 288,994 10,66l 323,757 10,661 334,418 342,184 CREDITORS Amounts falling due within one year 10 (735) (735) (1,728) NET CURRENT ASSETS 323,022 10,661 333,683 340,456 TOTAL ASSETS LESS CURRENT LIABILITIES 323,944 10,661 334,605 343,223 NET ASSETS 323,944 10,661 334,605 343.223 FUNDS Unrestricted funds Restricted funds 323,944 10,661 314,069 29,154 TOTAL FUIWS 334,605 343,223 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 Deccmber 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records 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 the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes forni part of these financial statements 10
South Belfast Foodbank (Registered number: N1675930) Statement of Financial Position - continued 31 December 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to thc small companies, regime. The financial statements were approved by the Board of Trustees and authorised for issue on 15 May 2025 and were signed on its behalf by.. Mr Sean Gallagher - Trustee Dr Aine Lockhart - Trustee The notes forni part of these financial statements
South Belfast Foodbank Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICtES 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 charlty has entitlement to the funds, it is probable that the income WAII be received. and the amount can bc 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 economic benefits will be required in settlement and the 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 25% 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 restrictcd purposes within the objects of the charity. Restrictions arise when spccified by the donor or when fvnds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fvnd is included in the notes to the financial statements. 12
South Belfast Foodbank Notes to the Financial Statements - Continued for the Year Ended 31 December 2024 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 31.12.24 31.12.23 Deposit account interest 6,124 NET INCOME/(EXPENDrruRE) Net incomc/(expenditure) is stated after charging.. 31.12.24 31.12.23 Depreciation - owned assets 1.845 1,845 TRUSTEES, REMUNERATION AIYD BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 Dcccmber 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 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 2024 COIVIPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOw1lENTs FROM Donations and legacies 271,435 32,115 303,550 Investment income 6,124 6,124 Total 277,559 32,115 309.674 EXPENDITURE ON Charitable activities Support costs Direct costs 6,390 266,862 1,913 8,303 302,806 Total 273,252 37,857 311 109 NET INCOIVIE 4,307 (5,742) (1,435) RECONCILIATION OF FUNDS Total funds brought forward 309,762 34,896 344,658 TOTAL FUNDS CARRIED FORWARD 314,069 29,154 343,223 TANGIBLE FIXED ASSETS Motor vehicles COST At l January 2024 and 31 December 2024 7.379 DEPRECIATION At l January 2024 Charge for year 4,612 1.845 At 31 December 2024 6,457 NET BOOK VALUE At 31 December 2024 922 At 31 December 2023 2,767 14
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2024 STOCKS 31.12.24 31.12.23 Stocks 31.776 26,641 DEBTORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 31.12.24 31.12.23 Other debtors Prepayments 18,792 2,313 26,572 1,977 21,105 28,549 10. CREDITORS: AMOUNTS FALLING DUE WITBIN ONE YEAR 31.12.24 31.12.23 Accrued expenses 735 1,728 11. MOVEMENf IN FUNDS Net movement in funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Designated fund 252,302 61,767 37,937 2,933 293,172 30,772 314,069 Restricted funds Bankuet fund Fuel bank Trussell: Strategic fund 9,875 323,944 6,154 8,000 (3,493) 2,661 8,000 15,000) 29,154 18,493 10,661 TOTAL FUNDS 343,223 8,6l8) 334,605 15
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2024 I I. 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 285,785 (247,848) (28,062) 2,933 (2,933) 40,870 (30,995) Restricted funds Bankuet fund Fuel bank Trusscll.. Strategic fund 3,471 30,769 55,682 (6,964) (30,769) 70,682) (3,493) 15,000) 89,922 108,415 18,493 TOTAL FufiDS 375,707 384,325) Comparatives for 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 Restricted funds Bankuet fund Donation re purchase of defibrillator Fuel bank Trussell: Strategic fund Trussell: Winter support ant 314,069 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 16
South Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2024 11. MOVEMENT IN FUNDS - continued Comparative 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 Trussell: Winter support grant 3,098 1,082 (6,762) (1,082) (2,000) (12,013) (15,000) 1,000) (3,664) (2,000) 922 12,935 15,000 1,000) 32,115 37,857 5,742) TOTAL FUI¥DS 309,674 311,109) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.12.24 At 1.1.23 Unrestricted funds General fund Designated fund 309,762 42,244 28 062) (58,834) 58,834 293,172 30.772 309,762 14,182 323,944 Restricted funds Bankuet fund Donation re purchase of defibrillator Fuel bank Truss¢ll.- Strategic fund Trusscll.. Winter support grant 9,818 2,000 7,078 15,000 1,000 (7,157) (2,000) 922 (15,000) 1,000) 2,661 8,000 34,896 24,235 10,661 TOTAL FUNDS 344,658 10,053) 334,605 17
Soutb Belfast Foodbank Notes to the Financial Statements - continued for the Year Ended 31 December 2024 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 563,344 (521,100) (28,062) (58,834) 58,834 (16,590) 30,772 Restricted funds Bankuet fund Food funding Donation re purchase of defibrillator Fuel bank Trussell: Strategic fund Trussell: Winter support grant 6,569 1,082 (13,726) (1,082) (2,000) (42,782) (85,682) I,000 (7,157) (2,000) 922 (15,000) 1,000 43,704 70,682 122,037 146,272 24,235 TOTAL FUNDS 685,381 695,434 10,053 Purpose of Restricted Funds as at 31 December 2024: Bankuet Fund- This is a fund resulting from donations to Bankuet, where use of the funds is restricted to the purchase of food related items: Fuel bank- Donations to be used to alleviate fuel poverty: 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. 13. DESIGNATED FUND The designated fund represents a fund set aside to cover three irrevocable property lease commitments. These three lease commitments will come to an end in the period April to November 2025. 18
South Belfast Foodbank Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND EIYDOWMENTS Donations and legacies Fundraising Donations Gift aid Grants Donated goods 25,257 122,693 7,520 55,682 157,295 32,149 101,369 13,226 15,500 141,306 368,447 303,550 Investment income Deposit account interest 7,260 6,124 Total incoming resources 375,707 309,674 EXPEfiDITURE Charitable activities Wages Pensions Rent and rates Insurancc Light and heat Telcphone Postage and stationery Premises alterations Repairs & maintenance Computer equipment & software Consumables and equipment Cl¢aning & hygiene Vehicle expenses Staff training Miscellaneous Donated goods distributed Food purchases and delivery Fuel vouchers distributed Grant expenses 47,296 1,659 43,977 3,574 2,941 2,260 1,921 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 7,539 3,463 6,187 1,759 1,140 1,074 150,160 14,859 27,149 55,682 372,640 302,806 This page does not forni part of the statutory financial statements 19
South Belfast Foodbank Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 Support costs. Management Legal fees - General Legal fees- Employment 1,200 720 458 720 Finance Fuel bank fees Bankuet fees Bank charges 3,620 890 199 1,406 507 156 Other Depreciation of motor vehicle 1,845 1,845 Governance costs Accountsncy fees 3,211 3,211 Total resources expended 384,325 311,109 Net (expenditure)lincome This page does not form part of the statutory financial statements 20