Company Registration Number.. N1675930 Charity Number.. 108835 South Belfast Foodbank IA company limlted by guarantee. not havlng a Share capltal) Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2025
South Belfast Foodbank IA company Ilmlted by guarant86. no¢ havlng a share capltall CONTENTS Pagè Reference and AdministratlV8 Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examiner's Report 10 Statement of Financial Activities 11 Balance Sheot 12 Notes lo the Financial Statements 13-19 Supplementary Infomialion relating to the Financial Stalemenls 21
South Belfast Foodbank IA company Ilmlted by guarantoe, not havlng a share Capltsll REFERENCE AND ADMINISTRATIVE INFORMATION Trustees A Lockhart (Co- Chairperson) M Keown (Co- ChaiTper8onl E Roub C Melver (Appointed 18 September 20251 S Gallagher N Collum (Resigned 17 4DriI 20251 R Ttsllerton IResigned 18 September20251 O Baleson Charity Number in Northern Jreland 108835 Company Reglstratlon Number N1675930 Règlstered Offlca and Principal Address 119 University Street Bèlfast Antrim BT71HP Northern Ireland Independent Examlnèr Finegan Gibson Ltd Chartered accountants 2nd Floor Causeway Tower 9 James stet Soulh Belf8St Anlrim BT2 8DN Northem Ireland Solicitors Edw8rds & Co 3rd Floor, Sessia House. 6147 Donegall SlreeL Belfast BT12QH
South Belfast Foodbank IA company Ilmlted by guarantee, not havlng a shaTB capltal) TRUSTEES. ANNUAL REPORT for the financial year ended 31 D8cernber 2025 The trusle8s. whose contribution is entirely voluntary. pre5erht their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited finonci81 statèments for the financial year ended 31 December 2025. The financial sktètllènts are Prepa(j in èccord8Hce with the Companies Act 2006. FRS 102 'Th8 Financial Reporting Standard applicable in the UK and Republic of Iland, and Accounting and Reporting by Charities.. Stslemenl of Recommended Practice applicable to charities preparing their financial slalements in accordance with th8 Financral Repong Standard applicable In the UK and Republic of Ireland IFRS 1021. The Trustees, Report contains the informauon required to be provlded in the Tru5tees' Annual Report under the Slalemenl of Recomm8nded Practice ISORPI gLJidelines. The twstees of the charity are also charlty truste85 for the purpcise of charlty law and under the tharity's constitution are known as m&Tnbers of the board of trustees. In this report the trustees of South Belfast Foodbank present a summary of ils purpose, governance. activities, achievements and finances for the fina181 year 31 December 2025. The chartty Is a registered charity Bnd hence the report and results are presented in a fomi whlch complies with the requirements of the Companies A¢1 2006 and. although not obliged lo comply with the Statement of R8¢0rnrnended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has Implemented its recommendab.ans where relevant in thè5a finanryal slalements. Charltable Oblectlves Objeetivos The prevention or relief of povèrty in South Beifasl, in particular but not exclusively, by.. Provlding emergency food supplies directly to people in need. or via otrer anli-poverty charities and organisations. from time to time as we see fit Pmviding tailored support and information in accordani* with Christian prfndples, In¢luding but not excluslvely.. slgnposting. outreach and training courses. designed to Improv8 a person's well-being and chances of getting out (>f poverty and Working in strategic partnership wllh other key anli-poverty charib8s and organisations to offar holisliq "more than food. solution5 to people's ne8d$. 5truGture, Governancè and Management Goveming do¢ument The ttharity is controlled by Its gov&rning document, a deed of tru81, and conslilutes a limited company, limited by guarantee. as defined by the Companies Acl 2006. Rèview of Achievoments and Porformance Foodbank operatlons South Belfast Foodbank. The Foodbank. reIVed 55,213kg 12024= 55,196kgl in food donations or purchas85 and distributed 55,424kg12023.. 54.636kgl of food to those in need or to other Trussell fo(xlbanks. As a result. our holdir tsf stock decreased slightly lo 10,821 kg as at 31 Decernber 2D25. Included within the weight numbers abova. th8 Foodbank purchased food c051ing £20,428 lup from £14.859 in 20241. We have been able lo feed 7,770 people 12024.. 7,9631 during the year- wrth 2,55612024.. 2.8521 of those being children. 3,755 referrals were rnade In 2025 12024.. 3,4601. Bookings plaffom? The Foodbank Introduced a new bng5 platforrn in 2024. As a result. In 2025 thi5 has led lo efficiencles when our volunteers make bookings whilst givlng our cllents greater choice and dlgnity. In 2026 we plan to tnake further developments lo our bo0)ng platform. Fuel bank We have partn8red with the Fuel Bank Foundation who have funded the fuel vouchers which we have issued in 2025. During 2025 687 VDuchers were redeémèd 12023: 660 vouchers) at a value of £39,081 12024.. £27.149) which assisted 2,471 people12024'. 2,4581. Oryanising 8ndLoGal Mobilisation (OLM) ProJeGI The purpose of the OLM project is to suptx)rt foodbanks as they develop effective campaign strategles, ensurirrtJ that
South Belfast Foodbank IA Eornpany Ilmlted by guarantee. not havlng a Sharè eapltall TRUSTEES. ANNUAL REPORT for thè flnancial year ended 31 December 2025 the foodbanks have th8 capacity, sknlls and resoLtrces to dglivar thèm. Thg Foodbank had agreed lo take on the role of 'lead' ftsodbank in B8118sI for the OLM prolect and the four Belfast foodbanks decided lo work with Belfast Central Mission IBCMI on this project. As a result. BCM employed an offjcer who has worked on behalf of the four Tnjssell foodbanks in Belfast. During 2025 the Foodbank received £55.682 In funding from TFussell for Ihis project which it has paid to BCM to eover its costs. The OLM officer has focused her efforts to work wth clients on lobbying for a crackdown on Belfast landkJrd8gents who are illegalty charging landlords administrotion and viewng fees to renters. She is aiming to establish a list of goodlrecommended landlordslagénts who sign up lo a register pledging not to charge these types of fees. Her work has alrnosl exclusively bEen with th8 South Wesl Belfast Foodbank and has ended up partnerfng with Croi, a cornmunity Organisatn in West Bèlfast. The OLM project is coming close to the end of it5 tsvo year projecl life. Financial InGlusion In Ihe 2024 Trustees. Raport wa wrnmente(I that one of our main strategic aims has bgen to In¢re8sg the range of signposting that we offer and, 85 8 result, we were actively working towards applying for a grant from Truss811 to sel up and deliver a Financial Inclusion IFII project. We are pleased to report that we were successful in obtaining 8 grdnl from Trussell lo cover the eosts for at lea51 the first two years of operation. We have partnered wlth Advice Space, one of whose Flnancial Advlsers has been providlng advice on issues relating lo debt managemenL b8n8fi1 m8xirnisation and housing issues al 119 Universily Street 5inc8 S8p18mber 2025. WhSle this new ventur8 has yet lo reach its full potenllal it has alreBdy made a substanttal dSffgrenc8 10 individual clients. Volunteer sttegY Throughout 2025. the Foodb8nk was 5UPPOrted by the hard work and dedication of 149 volunteers. Twenty of these were newly r8cruited during the year. To help us continug devoloping our Volunt8er Prograrnme and enhance r8cruitment, support and retention, we created a new staff post (replacing a staff member who had 18ft1 th31 included the role of Strategy D8velopmenl, volunteer recruitment, management and communicatlon. This post has freed up the Project Manager for other Crucial areas of work and allowed us lo dedicate MO time to further developing our volunteer programmo. Awargnoss rdlslng actfvty The Foodbank seeks to raise awareness of ils actwities through relationships with bc81 organi58tions. A SUpporve n81work of businesses. like-minded charities, individual donors and in parcULr a broad rgnge of local churches, has dBveloped through face-to-face meetings and psentatiOnS, inlomiation provided on our soci81 media platforms and volunteering opportunities offered lo corporate groups and individuals. AJI of these activities increase the inleresl and understanding of those Involved and encourage a compasslonale response lo the needs ol those in poverty In South Beffast. This is ev1rten by the generosity expressed in monetary, and food donations and offers of help. The Foodbank also uses its website, Fabook pagès and X Iform8rfy known as Twtt8rl to promote a greater awareness about the challenges of livlng In povety and ourwork to reduce 115 effects on people lives. Regard to publlc benellt When exercising any powers or duties in the operation of the Foodbank, the trustees have complied with their duty to have due regard lo the guidance issued by the Charity Commission on public benefit. Contribution made by volunteers The contributions of volunteers lo the seNlc¢s the Foodbank provides are irnrneasurable. We are grateful for thèlr compassion, commitment and contrlbutlon to all aspects of the Foodbank's services. Future-pmofing The Foodbank plans to eonlnue it5 devdopmenl arKI strengthen its capacAty to tackle hungar and pov8ty In South Belfast. In parfctjlar. Ihe Foodbank will aim lo.. RecNSt additional trustees to th8 Board.. Enhance the Foodbank's govemance and management.,
South Belfast Foodbank IA company Ilmlted by guarantee, not havlng a share capltall TRUSTEES. ANNUAL REPORT for thg financial year ended 31 December 2025 Pr(xluce a new three-year strategy and bu&ness plan., Review and Improve our polici88, procedures. and practices., Listen to what our clients and volunteers tell us matters lo them., Influence local government and show leadership to tackle hunger and poverty,. lrnprove our PR and fundfaising activi16es to underpin the value of our work., Develop further Its relatlDnship with Tmssell. Trus5ell works locally and acros5 the UK for a more Just and compassionate so¢iety where no one needs a foodbank to survive. Financial Revlew The resvlls for the financial year are set DUI on page and addltional notes are provlded showing income and expenditure in great8r detail. Overall, the Foodbank repcirted a net income in the year ended 31 D8c8mber 2025 of £13,93312024.' N818xpense £8,618). Th8 nel income in the year 8nded 31 December 2025 wag added lo reserv8s brought forward (and the net expense in the year ended 31 December 2024 was fundèd OLrt of r95erves brought forward). Income Overall income Increased by £67.438 in 2025 compared wth 2024. The key drivgrs of thls In¢rg8se were.. An increase In grant frjnding c)f £46.208 from Trussell arising from of a grant to support the Financial Inclusion project togeth2rwilh a second year of funding regarding the appointment of a local mobilisation officer in BCM., AddItI¢al funding from the Fuel Bank Foundation li.e. £43,201 in 2025 compared to £30,769 in 20241 lo cover the increa5ed1ovel of fuel vouchers distributed to those In ne8d', and Fundralslng activities i.e. £32,610 in 2025 compared to £25256 in 2024. There was a decrease in Sncome frorn.. A lower vèlue in food donat8d to the foodbank li.e. £152,940 in 2025 compared to £157.295 in 2024},' and A reduotion in deposit accwnt interest resulting from lower short terrn interest rates. The level of direct donations in 2025 i.e. frorn indivtduals. businesses, churches and $upemiarkel collections was broadly sSmilar to that in 2024 i.e. £89.419 v £88,453. 2025 Ineome £443,145 2024 IncoThe £375,707 GcodsdDnitod £152J4Q3546 Fdra1n¥ -E32.6107 DlrpctdunitlDns GOodSdOlOd £157.2¥6421b £BgA192 F[£151n1 .256 DlieCtdllnoS GIA[l45 341 ..011t7.52o 2 Inclu5. Obwrhea conthbuivn E2,d95 Ilb IncluSn- 4¢(head c1xlinon£0 an£488? JS% Lntvost£5.8ib FuBlb8r £43.2DI IOIts -GrnnTyEIOI.ty) 23q6 E&471 £7.2602 Bllnkurf£665
South Belfast Foodbank IA company Ilmlted by guarantee, not havlng a Share rapltall TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2025 2025 DirtttdDnglionsE89,419 2024 DireGidonaiions£88.453 rmrk&t [1%45B1746. r7A Irn Èll9 Ewenditu Expensos. 2025 cx)mpared to 2024. have increased by £44,887. The key drivers of this inry8ase have been.. Higher salary related costs resulting frorn the appointment of the Adrnlnlstr8tlon Manager l.e. up £5,399 on 2024: Higher v81ue of food distributed in 2025 compared to 2024 i.e. up £4.581'. Additional purchases of food in 2025 compared to 2024 i.e. up £5.568. The Foodbank spent £20,428 on purchasing food in 2025.. The increased need for fuel vouchers resulted in an additional expense in 2025 of £11,9321.' and The appointtllent of Advice Space io manage th8 Fina[la1 Inclusion project resuKed in an expense of £14,468. 2025 Expenses £429.212 2024 Expenses£384.325 Offkètèsts iartf. .Q5Q24b. .044.2%. c¢$,£5.rfj PtVPErtyttknd 5WEeS.111 .682.X41b_ FUlUlEri 27.W,7 buio £L7111941 Financial Resulls Al the end of th8 financial year the carity has assets of £350,64712024 - £335,340) and liabilities of £2.10812024 - £7351. The nèt assets of Ihe charity have increased by £13,934.
South Belfast Foodbank IA company Ilmlted by guarantee, not havlng a sharÈ pItalI TRUSTEES. ANNUAL REPORT for the financial year 8nded 31 December 2025 Reserves Posltlon and Pollcy The Iru51ees consider that. duB to its reliance upon vokjntary donations, th8 Foodbank should have a poliGy of holding al least six months, running costs. This equates to approximately £80k12025.. £75kl in free reseThes. Free reserves are unrestrlcted reserve5 (net of designated fund51 which are not invested in fixed assets or stock and are held to cover shortf811s in funding and provide worklng capital. For the Foodbank, the designed fund of£62k is in spect of the irrevo¢abl& property lease commitments. The trustees are pleased to be able lo report that thtt level of free reserves was £242k as al 31 Dec6mber 2025 12024.. £260kl l.e. £134k12024'. £185kl higher than that required lo cover six rnonths, runnlng costs. The current level of free reserves wlll enable the Foodbank to mèèt th8 incr8as8d dernand for its services by continuing to 8xpand the range of Its op8ralion5 and activities. Preparation of the accounts on a going Concern basis The finBncial statements have been prepared on a going concern basis. The Irustees have reviewed and cDn5idered rèlèvant inforrnalion. including the annual budget and future cash flows in making their a558ssrnenl. Based on this assessment together with mibgaling moasur85 that could be taken and the current availabl8 resource5. the trustees have concluded that they can continue to Bdopt the going concem basis in preparing the annual report and accounts. Fundlng ¥trategy We have a Funding Strategy and Fundraising Plan to ensure that we secure the funds r8qulr8d to deliver all our charltab18 acllville8. We are especially grateful lo those signiflcanl donors who have continugd to support us. Ri$k management The Fdbank h8s a wide range of policies in platt8 which provide il with the means to manage the key risks. These polleles include those for health and safety. safeguarding, inforrnalion security, finance and employment and codes of condu¢tfor staff and volunteers. Trustses Th& trustees who served throughtsul the financial year, except as noted, were as follows: A Lockhart M K80wn E Roub C Mclver (Appointed 18 September 20251 S Gallagher N Collurn IResigned 17 April 20251 R Tollerton (Reslgned 18 S8pletnber 20251 O Bateson In accordance with the Constltulion, th8 trustees r81ire by rotation and, belno 8liglb19. offer thernselves for relection. Compllance wlth S•ctor-Wlde Legtslatlon and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Tha Foodbank subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP IFRS 102) Approved by the Board of Trustees on and signed on its behalf by: A Lockhart (Co - Chalrpersonl Trustee
South Belfast Foodbank IA Eompony Ilmlted by guarantEe. not having e share capltall STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 Detsmber 2025 The trustees, who are also directors of Swth Bewasl Foodbank for the purposes of company law. are responsible for preparing the finanGial statements in accordance with appli(2ble law and regulations. Company law requires the tru5t88s as the d1CtOrS to pr8p8re finarla1 slatemgnts for aach flnanclal year. Under that law th8 trustees have ele¢tgd lo prepare the financial 5t8entS in accordance with United Kingdorn Generally Accepted Ac¢ounling Practice (United Kingdom Accountirhg Si8ndards and applicable lawl Includlng FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Seciion 1A (Small Entitlgs}. Under cornpany law the trustees musl not approve the financial stat8tn8nts unless they are satlsfied that they give a true and falr eW of the state of affalrs of the oornpany and of the surplus or deficit of the company for that perlod. In prep8rtng these financial stat8m8nls, the Iruslees ara raquir8d lo.. select suitable accounting policies and apply them consistently., makejudgements and estimates that are reasonab]e and prudent., stsle whether the financial statements have been prepared in accordancè with the rolevant financial repotting framework. identify thos8 Standards. and note the effect and the reasons for any material dep8rtLsre from thos0 51andards,' and prepare the financial $14lernenls on the going concem basis unless il is inappropriate to presume that tho charity will continug in opèration. The tNstees confim) that they have complled wlth the above r&4uirements In prepaAng the financial ststements. The trustees ale rèsponslble for keeping adequate accounting records that are sufficient to show and explain the charity's transaction5 and disclose with reasonab accuraoy at any time the finanelal po8ition of the charity and enable them to ensure that the financial statetnents comply with the Companigs Act 2006. They are also respunsible for safeguarding thg assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud aThJ other irregularities. Approved by the Board of TrusteES on 2026 and slgned on Its behalf by: A Lockhart (Co- Chairperson) Trustoo
South Belfast Foodbank IA Gompany limited by guarantee, not ha¥lng a share capiiall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SOUTH BELFAST FOODBANK We have examined the financial statements of the charity for the finanaal year ended 31 December 2025, which comprise the Slalement of Finanual Activities lincorporalng an Income and Expenditurè Account). the Balance Sheet and the related notes This report is made solely lo the charity's members, as a body, in accordanc& with Chapt@r 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report lo the Board of Trustees that we have done so. and state those matters that we have agreed to state to them in this report and for no other purpose. To the fvllest extent perrnitted by law, we do not accept or assume responsibility to anyone other than the charity and the charily's members, as a body, for our work, or for this report. Respective responsibi1sti•s of trustees and examiner The charity's trustees Iwho are also the dire¢lo¥s of the company for the Purposes of company lawl are responsible for the preparation ol the financial s¢8lements in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an indepèndent examin"on is required. It 18 our responsibility to.. exarnine the financial stalements under section 65 01 thè char$ A¢t- follow the procedures laid down by the general Directions given by the Charity Commission lor Northem Ireland under section 65191{bl of the Charities Act., and stale whether particular matters have come to our attention. Basis of indepèndent examiner's report We have examined your charty financial statements as required under section 65 of the Charities Aet and our 6xamination was ¢arried out in accordance wilh the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. An examination includes a review of the accounting records kept by the charity and a compaflson of the financial statemen15 presented with Ih05e recoids. 11 also includes consideration of any unusual itèms or disclosures in thè financial slalemenls and seeking explanations trom the Iruslees concerning any such matters. The procedu$ undertaken do not provide all the evide[ that would be required in an audit and consèquantly no opinion rs glvgn as lo whether Ihtr accounts psent a 'lrue and fairf yW and the report is limited to those matters set out in the statement below. In connection with our exarnination, no matter has come to our aitenlion which 9ives us Cause to belièvè th in, any material respect.. accounting records were not kept in accordance wllh section 386 of the Companies Acl 2006 the financial slalements do not accord with those aecounling records thè financial slalemen15 have not been prepared in accordance with Ihe accounting requiTemenls of sectKin 396 of the Companies Act 2006 and with the rnelhods and principles of the Slalen7ent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 there is further Infomaloon needed for a proper understsnding ofthe a¢cwnts lo be reached. Independent examSn•rf$ Statement We have no concerns and have come a¢ross no other mattgrs in nnectIOn with the examination to which attention should be drawn in this in order lo enable a proper undetslanding of the financial 5181ements lo be reached. Paul Dolan FINEGAN GIBSON LTD Chartered accountants and Registered auditors 2n¢J Floor Causeway Tower 9 James Street South Belfast Anlrirn BT2 8DN Northem Ireland Date: 2S June 2026 10
South Belfast Foodbank IA cornpany Ilmlted by guarantee, not havlng a sharo capltall STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatlng an Ineome and ExpEndlture Accountl for thg financial year ended 31 D8c8mb8r 2025 Unrestricted Restrictèd Funds Funds 2025 2025 Total Unrestricted Restricted Funds Funds Funds 2025 2024 2024 Total Funds 2024 Notes Income Donations and legacies Charitable activities Investments 276,054 13,713 5,819 56,886 88,177 332,940 101,890 5,819 278,525 34.240 55.682 312,765 55,682 7,260 7,260 Totsl Income 295,586 145,063 440,649 265,785 89.922 375,707 Expenditurè Charitable activities 313,238 113,477 426,715 275,910 f 08,415 384.325 Net Incomel{8xpenditure) 117.6521 31,586 13,934 9,875 {18,4931 18,6181 Transfers betw88n fvnds Net mov8m•nt In funds for tho financlal year 117,6S21 31,586 13,934 9.875 118,4931 18,6181 Reconclllatlon of funds: Total funds beginning of the year 14 323,944 10.661 334,605 314,069 29.154 343,223 Total funds at the end of the 306,292 42,247 348,539 323,944 10.661 334,605 Tha Statam8nt of Financial Activities Includes all g8ins and bs8es recLyJnised in the financial year. All Income and expenditure relate to continuing activities. Tho notes on pag8s 13 to 19fom part of the financial stst8rnenls 11
South Belfast Foodbank IA company Ilmlted by guarante8, not havlng a sharè eapltall Company Number: N1675930 BALANCE SHEET as at 31 December 2025 2025 2024 Notes Fixed Ass•ts Tangible assets 922 Current Ass?ts Stocks Debtors Cash at bank and in hand 10 11 29,975 19,066 301,606 31,776 21,105 281,537 350.647 334,418 Creditors: Amounts falling duè within one year 12 12,1081 17351 N•t Currènt A55ets 348,539 333,683 Totsl Assèts Ie55 Current Llabllltlès 348,539 334,605 Fund$ Restricted funds Designated funds Iunrestrfctedl General fvnd lunresldctadl 42.247 61,972 244,320 10,661 30,772 293,172 Total funds 14 348,539 334,605 These financial statements havè b8en prepared in accordance with the speu81 promsions relating lo small comp8rii89 within Part 15 of the Companies Act 2006. For the financial year ended 31 December 2025 tho charity was èntitl8d to exempliDn from audit under section 477 of the Companies Act 2006,. and no nob'ce has been deposited under section 476. The tnjslees confirni that the members have not required the company to obtain an audit of its financial slaiements for the financial year in qu8sllon in accordan wlth seotion 476 01 th6 Compani8s Act 2006. The tDJstees acknowledgè th81r rèsponslbilthes for ensuring that the charlty keeps accounting records 1¢h compty qlh section 386 and for pr8paring finanaal slalemenis whlch glve a truè and fair v¢ew of the state of affalrs of U) charity as at the end of the financial year and of its profit and loss for the financial year in accordanc8 wilh the requirements of sections 394 and 395 and which otherwise comply with th8 requirements of the Companies Act 2006 Telating to financial statements, 50 far as applicable to the charity. The financial statements have been prepared In accordan¢& with the provlslons app]iats1e to ctsmpani8s suwect lo the small comp8ni65' regime and in accordance with FRS 102"The Financial Reporting Standard applicable in the UK and Republic of Ir81and", applying seCtn 1A of th8t Standard. Approvéd by thè Board of Trustees and authorlsed for Issue on sli J*E 2mSand slgned on Its behalf by Ic A Lockhart (Co- Chairperson) Trust88 The notes on pages 13 to 19form part of the financlal stst&ments 12
South Belfast Foodbank IA company Ilmlted by guarantee. not havlny a Share capltaQ NOTES TO THE FINANCIAL STATEMENTS for thè financial year ended 31 Dec6mbar 2025 GENEIIAL INFORMATION South Belfast Foodbank is a company Wniled by guarantee incorporated in Northem Ireland. Thè registsred Offi of the charity is 119 Unfversity Street. Bellast, Antrim, BT7 1 HP, Northern Ireland which 15 8150 the principal place of business of the charity. The financlal statements have been presented In Pound {£) whichls also the fijnctional curren¢y of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The followlng accountlng policies have been applied conslstenlly in deallng th It8ms whlth are consldered material in relalon to the charty's financial statements. Basls of preparation The financial statements have been prepared on the going ¢oncem basis under the historical cost convention. modified to includè cèrtain items al fair value. The financial statements have been prepared in accordance with the Statement of Recornrnended Practice ISORPI Accounting and Reporting by Charities pr8paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland FRS 102" applying Section 1A ol that Standard. As permitted by Ihg Companies Act 2006. the charity has varied the standard formats in that act lor the Statement of Financial Activities and the Balance Sheet. Departurè5 from the stsnd8rd formats are to compty with the requirements of the Charitles SORP and are In ¢ompllance with section 4.7, 10.6 and 15.2 of that SORP. Statèm•nt of compllance The fin8nci81 statements of the charity for the financial year ended 31 Decernber 2025 have been prepared on the going concern basis and in accordan wlth Ihe Ststement of Recommended Practice ISORPI 'Accounting and Reporting by Charities preparing their accounts in aCrdane with the Financial Reporilng Standard 8pplieable in the UK and Republc of Ireland FRS 102 apptying Section 1A of th81 Standard. Fund accounting Tho following are the categories of funds maintalned: Restricted funds R85trict8d funds represent Income recelved whlch can only b8 US8d ft)r particular purposes. as speclfled by the (Son0. Such purposes are within the overall L*)lectlVes of charity. Unrestrict8d funds Unrestricted tunds consist of General and Designated funds. General funds repsent arnounts which are expendable at the discretion of the board, in furtherancè of the objectives of the charity. Designated funds comprise unr8Stricted funds that th8 board has. at Its discretlon, sel aside for particular purposes. These designations have an adminlstralivg purpose onty. and do not legally restrict the board's discretion lo apply the fund. Income Incorne 15 recognised by inclusion In the Statement of Financial Actiwts'es only when the charity is legalty entitled to the inctsmÈ, perfortllance conditions attached to the iternlsl of income have been met. tha amounts involved can be rneasured with suffldenl rèllability and it is probable that the income will be received by the charity. Income from charltablo a¢tivitie$ Income from charitablè activitie5 includes income earned from the supply of services under contractu arrangements and from performance ted grants which have conditions that specfy the provision of particular serViS to be prDvided by the ch8rity. Income from government and other co-funders is iecognised when the charity Is legally entitled to the income because il is fulfilling the condiuons contalned in the related funding agre8msnts. Whère a grant is received in advan, its recogniiion 15 d8fèrr8d and iNcluded in creditors. Wh8Te 8ntitt8m8nt occuE3 trefore income is received. it is accrued in dabtors. Grants from govemments and other co-funders (yplcally include one of the followlng typ85 of conditsons-. Perf(>miancè based conditions.. whereby the charity is contractualty entitled to fundlng only lo the extent that the core objectlV8s of th8 grant agreement are achieved. Where the charlty Is mèeting th8 core objectives ol a 13
contlnued South Belfast Foodbank IA company Ilmlted by guarantEe. not hHvlng 8 share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Decemb8r 2025 grant agreement, 11 recognlses th8 related expenditure, lo the axlenl thal11 Is rolmbursabla by the donor. as income. .Time based condition5= whereby the charity is contractually enliued to funding on the condition that it is utilised in a partlcular period. In these cases the charity recognlses the income to the extent Is uti115ed wlhin the pericid spe¢rfIed in the agreement. In the absence of such conditions, assuming thal reIpt is probable 8nd the amwnt can be reliably measured. grant income is recognised On the charity is notified of entitlement. Grants rec8ived towards capital expenditura ara crèdlt8d to th8 Stalernent of Flnancial Activities when recelved or receivable, whichever is earfier. Exp8ndlture Expenditure is analysed behveen costs ol charltab18 activities and raising fvnds. Th8 costs of each activity ar8 sep8rately accumulaled and disclosed. 8nd 8nalysed according to their m8jor components. Expenditure is cognised when a legal or construclive obligation èxists as a rèsutt of a past evenl, a transfer of economic benefits is quired in settlement and the amount of the obligation can be reliably rne8sured. Support costs are those functions that asslsl the work of the charfty but eannol be attrfbuted to one actiwty. Such costs a alloc3ted to activities in proportion to staff time spent Or other suttable Measure for each ackn'vity. Judgernents and key sources of •stimation uncertainty The preparation ol the financial statemenis requires management to make judgenents, estimates and 8ssumptions that affect the amounts reported. These estim8tes and judgements are continually reviewed and are based on experien and other factors. Including expectations of future events that ar8 believed to be reasonable under Ihe circumstanc8S. Tanglble fixed assets and depreclatlon Tangible fixed assets are stated at cost or al valuation, less accumulated depreclalion. The charg8 to depreciation is calculated to vvnte off the original cost or valuation of tangible fixed assets. less their estimated residual valug, over their exp6ctad usaful liv85 a5 follow5.. Motor vehicles 25Yo Straight line Stock sio¢ks are stated at the lower of cost and net realisable VU8. after making due allowan for obsolete and slow moving items. Cosl Includes all wsts incurred in the normal course of business in bringing them to their present location and CDndition. Stocks cornprise fundraising materials. It is not considered practicablè to valu& stock of unsold donated goods 8t Ihe fin8nci81 year end. Debtors Debtors are recognlsèd at tha settlgrngnl amount due after any dlscounl offered. Prepayments ara valuad at the arnounl prepaid net of any trade discounts due. Income recognised by the charity from gov8rnmenl agencies and other co-fund8r3. bul not yel received al financial year end, is included in debtors. Cash at bank and In hand Cash at bank and in hand comprises cash on depDsiI al banks requSrfng less than three months noU¢e of withdrawal. Taxatlon No current or daf*d taK8tion arises as the tharity has been granted charflable exemplTron. Irr8CQVgTabl8 valued added tax is expensed 88 incurred. Flnan¢ial Instruments A financial asset or 8 financi81 liability is recognised only when the charity becomes a p8ty to the ¢ontr8clual provisions of the instrument. B851¢ financial instruments are initialty recognis8d al tha amount rgceivable or payable in¢ludiry any related 1r8nsacb.on wsts. Current assets and current liabilities are subsÉquèntly mèasur8d al the cash or other consideration expected to be pald or received and not discounted. 14
contlnued South Belfast Foodbank IA company Ilmlted by yarantee. not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2025 Debt instruments are subsequentty measured al amortised cost Where investments in shar8s are publicly traded or their fair v81ue can otherwise be mèasured rèliably, the investment Is subsequently measured al fair value with changes in fair value recognlsed In Income and expendliure. Al other such inve5tm8nts are subsequenuy measured at cost less impairment. Other flnancSal instruments, including derivatives, are initialty reIgnIsed at falr value. unless p8yment for an asset is deferred beyond normal business terms or finantsd at a rate of interest that is not a market rate. in which case the asset 1$ measured al the present value ol the future payments disc(xJnted at 8 market rale of Intarast foi a slrnilar debt instDJment. Othèr finan¢ial In8trum8nts are subsequently measured al falr value. with any changes recognised in the statem8nt of financial activitie5. with the exceptlon of hèdging in5trumonts In a d85ignatsd hedglng relationship. Financial assets that are measured at cost or amortised cost 8r8 r8W8W8d for objective evidence ol imp8irmenl 81 the end of each reporting date. If there is objective evidence of impaiment, an impairment bss is recognised under the appropriate h&ading in the st819m8nl of financial activities in which the initial gain w8S r8cogni38d. For 811 equty instruments regardless of signrficance. and other financial assets that are individually significant. these are a55essed indlvldually for Impaimiant. Other financlal assets are either assessed indwidually or grouped on the basis of similar credlt risk char8Cterislics. Any reversals of irnpalmienl are recognlseo Immèdlatèly. to thg 8Xtenl that the reversal does not result In a C8rrying amount of the financial asset that ex¢e&ds what the carrying 8mount would have been had tho impairment not PTeviousty been CognISed. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Fund8 2025 2024 Donations and legacies Donated goods Gift Aid People's fundraising donations 76,419 152,940 14,085 32,610 56,886 133,305 152,940 14,085 32.610 122,693 157,295 7,520 25.257 276,054 56,886 332,940 312.765 32 CHARITABLE ACTIVITIES Unrestrlcted Restrlcted Funds Funds 2025 2024 Grant Income . OLM Grant Income.. Financial inclusi<>n 7.7Y8 5,935 48,612 39,565 56,390 45,500 55.682 13,713 88.177 101.890 55,682 INVESTMENTS Unrestricted Restricted Funds Funds 2025 2024 Deposll lUnt inl8rèst 5,819 5.819 7.260 15
continued South Belfast Foodbank IA CDrnpany Ilrnlted by guarantee. not havlng a sharè eapltall NOTES TO THE FINANCIAL STATEMENTS for the flnanclal yaar 9nded 31 December 2025 EXPENDITURE CHARrrABLE ACTIVITIES Dirèct Costs other Costs Support Costs 2025 2024 Expenllilure on charitable activStles Governance Costs (Noie 4.21 417,665 6.100 2.950 423,765 2,950 3e1,114 3,211 417,665 9.050 426,715 3B4.325 GOVERNANCE COSTS Dlre¢t Costs other Costs Support Costs 2025 2024 Charitable actlvides- govemance costs 2,950 2,950 3,211 SUPPORT COSTS Charitable Governance Activities Costs 2025 2024 Finance costs Management costs Other costs Support 4.458 720 922 4,45B 720 922 2,950 4,510 1,920 1.845 3,410 2,950 6.100 2,950 9.050 11,685 NET INCOME 2025 2024 Net Incomo is stated aft0r chargingllcreditingl: Depreclatlon of tangible assets 922 1,845 INVESTMENT AND OTHER INCOME 2025 2024 Other interest 5.819 7.260 EMPLOYEES AND REMUNERATION Numbèr of employees The average number of persons employed IlncludSro @xeculfve Injsleesl during the financial year was as follows: 2025 Number 2024 Number Average head count The staff costs comprlse: 2025 2024 Wages and salaries Pension costs 52.282 2,072 47.296 1,659 54,3S4 48,955 16
contlnued South Belfast Foodbank IA company Ilmlted by guarantèe. not havlng a Share capital) NOTES TO THE FINANCIAL STATEMENTS for thg financlal year ended 31 Dernber 2025 KEY MANAGEMENT PERSONNEL Key management personnèj includ8 all persons that have authority and responsibility for pl8nning. directing and wntrolling the actlvttles of the chÈrity. The total compensation paid to key management personnel for service5 provided to the charity was £52,28212024.'£47,2981. TANGIBLE FIXED ASSETS Motor vèhiclès Total Cost At 31 December 2025 7.379 7,379 Depreciation At 1 January 2025 Charge for the financial year 6.457 922 6,457 922 At 31 Decembèr 2025 7,379 7,379 Nat book value At 31 D8C8mb8r 2025 Al 31 Dacambar 2024 922 922 10. STOCKS 2025 2024 Stock 29.975 31.776 11. DEBTORS 2025 2024 Other debtor8 Prepayments and accrued inc£Jrne 17.501 1,565 18.792 2.313 19.066 21.105 12. CREDITORS Amounts falling due wtthln one year 2025 2024 Accruals and deferred income 2,108 735 13. RESERVES 2025 2024 At the beginning of the year SurplusllDeflcltl for thÈ financial year 334,605 13,934 343.223 IB,6181 Al the end ofth8 y88r 348,539 334.605 17
continued South Belfast Foodbank IA company Ilmltefl by guarantee, not havlng a shaTe caplta NOTES TO THE FINANCIAL STATEMENTS for the financlal year endéd 31 December 2025 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unre5trlctÈd Restrlcted Funds Funds Total Funds Al 1 January 2024 Movement during the financial year 314,069 9,875 29.154 118,4931 343,223 18,6181 At 31 December 2024 Movement during the financial ye8r 323,944 117,6521 10.661 31.586 334,605 13,934 Al 3fj Dec8mtrer 2025 306,292 42,247 348,539 142 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2025 Income Expenditure Transfèrs Balanc8 bgtW¥gn 31 December funds 2025 Restrietèd funds BankLJet fund Fuel bank TnJss811.. OLM The Truss811 Trust: nancIal Inclusion Systems Developmenl Food donation 2,661 8,000 685 43,201 48,612 39,565 3,029 43,201 48,612 16,635 317 8,CMJO 22.930 5.000 8.000 5.000 6,000 2,000 10,661 145.063 113.477 42.247 Unrestricted funds Designated Fund Unr8slricl8d General 30,772 293.172 30.772 282.466 61.972 161,9721 61.972 244,320 295,586 323,944 295,586 313,238 306,292 Totsl funds 334.605 440,649 426,715 348,539 Bankuet '. Thls ts a fvnfj resulting from donations to B8nkuel, where use of tho funds 18 restricted to the purchase of food related items. Fuelbank .' Don8Uon$ to bg used to alleviate fuel poverty. Trvssell Trust Flnancial Inclusion This is a grant frorn Trussell which provides funding for an initiatlV8 which aims to emwer individiuals experfendng povarty by Improving access to Ilnancial resources and support. Food Purchas8s- Donallons made by 1ndlvldua151organi5ations where thÈ fiJnd5 are to be used to purchas Systems development - Donatlon made by an individual to support the devebpment of systems with the Foodbank. Thè d8signated fund represents a furvj sel aside to cover thrèè Irrgv(Kable property lease comrnitmenls. These three lease commitments will come to an end in the perfod April 2026 to November 2026. 18
conJnued South Belfast Foodbank IA company Ilmlfed by guarantÈe. not havlng a share capttall NOTES TO THE FINANCIAL STATEMENTS for the finanaal y8ar ended 31 Decemb9r 2025 14.3 ANALYSIS OF NET ASSETS BY FUND Current assets Current Irabilbti•s Total Restricted funds 42.247 42,247 Unrestricted general funds 308,400 {11081 306,292 350,647 {2.1081 348,539 15. STATUS The charlty Ss a company limited by guarantee not having a share capital. The liability of thè members is limited. Every member ol the company undertakes to contribute to the assets of the company in the event ol ils being wound up while they are members, or within one Inancial year thereafter, for the payment of the debts and liabilities of th8 cornpany contracted before they ceased to be members, and the costs, charges and expenses of winding up. and for the adjustment of the right5 of the contributors among thems81ves, such amount as may be required, not èxceeding £ 1. 16. CONTINGENT LIABILITIES A conlingent liability exists to PaY gmnts and Tru31 rnonies recewed should certain condibons not be fulfille(I by the charity. In th8 opinion of the Trustees. thè tsrtns of the Letters of Offers h8ve beèn. or will be, complied with and no liability is expected. 17. TRUSTEES. REMUNERATION The Charity trustees We not paid or ffjceived any other benefits from employment wtiti the Charity in the year12024'. £Nill. There was no expenses reimbursed lo Trustees during the year12024.' £Nill. No other transactions look place wlth mlat8d parties during the year. 18. POST-BALANCE SHEET EVENTS There have b8en no &gnificant events affecting the Charity since the financial ye8r-end. 19
SOUTH BELFAST FOODBANK IA company Ilmltod by guaiantèe, nol havlng a shar8 caplt811 SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 20
South Belfast Foodbank IA company Ilmlted by guaranteÈ. not havlng a Share capltall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial y&8r ended 31 Dember 2025 2025 2024 Income Donations Donated goods Grant OLM Grant Financial Inclusion Gift aid Peoples fundraising donallons 133,30S 152,940 56,390 45,500 14,085 32,610 122,693 157,295 55,682 7,520 25.257 434.830 368.447 Exp8ns8s Wages and salaries Penslon Staff tiaining Rent and rates Insurance Light and heat Cleanlng and hyglene R8pair5 and maintenance Postag8 and 5tation8ry T8lèphon8 Computer equipment and sothvare Leg81 fees- general Legal fees- employmont Ac¢ountan¢y fees Bank charges 88nkuet le8S Fuel bank f8gs Vehide 8xpenses Miscellaneous Donated goods dislrlbuted Forxl purchases and delivery Fu81 vouchers dlslributed Grant expenses Depreciation 52.282 2,072 654 46.508 3,781 3.415 7,668 7,518 1,104 3.235 47.296 1,659 1,140 43.977 3,574 2,941 6,187 7,539 1,921 2.260 3,463 1.200 720 3.211 199 890 3,620 1,759 1,074 150,160 14,859 27,149 55,682 1,845 720 2.950 309 29 4.120 1,848 2,472 154,741 20,428 39,081 70,858 922 426.715 384.325 Miscellaneous income other interest 5,819 7,260 Net surpluslldeflcltl 13.934 18,6181 The supplemgnlary itrformatlon do85 not form part of thg fjnanclal statemènts 21