for the Period Ended 31 March 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2023
Principal activities of the company
Additional information
FUNDRAISINGDuring 2022 - 2023 the community grants landscape was relatively favourable as the government directed funds via community organisations to help with the escalating cost of living. The Larder received £8,995 in total, £3,000 of which was granted by Devon Communities Together for the winter ‘Heat and Eat’ ready-meals project. The balance comprised supermarket vouchers donated by Devon Communities Foundation. In addition, donations of £14,051 were received (up from £13,613 in 2021 - 2022). The fact that over 60% of our total income of just over £23,000 was raised from the immediate community gives us confidence that we still enjoy a strong level of support locally.While TVL’s bank balance remains healthy at the time of writing this report, the Board of Directors is aware that they cannot be complacent with regard to fundraising, not least as inflation remains high and the rapidly rising prices of staple food items directly impacts our outgoings. Campaigns to continue to build a regular and sustainable flow of income in the form of donations will therefore continue to be a priority for our fourth year of operation.STRUCTURE AND GOVERNANCEGoverning DocumentTVL commenced operations on 5 May 2020 and was incorporated on 28 September 2020 as a Community Interest Company limited by guarantee. The Articles of Association comprise its governing document.TVL is not a registered charity but in the view of the directors it fulfils the definition of a charity set out in s.1 of the Charities Act 2011.Organisational StructureTVL is run by its directors who are drawn from the community. They give their time voluntarily and receive no remuneration. Board meetings are usually held every other month and decisions are made following discussion and, generally, by consensus. The minutes constitute the formal record of decisions made.The Board is responsible for all policy decisions and finances of TVL. Financial updates are provided regularly by the Treasurer.Day to day management is undertaken by the directors who are assisted by volunteers. TVL has no employees. The volunteers are responsible for stocking the five distribution points in the Teign Valley and ensuring that the contents are up to date and fit for consumption. The central store is located in Christow.TVL is a member of Independent Food Aid Network (IFAN) and the South Devon Food Alliance.Risk management The directors maintain a risk register which sets out the principal risks, an estimate of the probability of each risk crystallising and the steps taken to mitigate those risks. Comprehensive insurance is in place covering Public and Employer’s Liability, professional indemnity and directors’ liability.TVL has a General Data Protection Regulations (GDPR) policy in place to ensure that practice and procedures comply with those regulations. The policy is subject to annual review.TVL also has Safeguarding Policy and procedures in place to protect vulnerable adults and children and to help our volunteers know how to respond in case of safeguarding concerns.
Directors
The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023
The director shown below has held office during the period of
1 April 2022 to 28 March 2023
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Secretary
for the Period Ended
2023 | 2022 | |
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| £ | £ |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | | |
Profit(or loss) before tax: | | |
Profit(or loss) for the financial year: | | |
As at
Notes | 2023 | 2022 | |
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| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Members' funds | |||
Profit and loss account: | | | |
Total members' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2023
Basis of measurement and preparation
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 March 2023
2023 | 2022 | |
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Average number of employees during the period | | |
for the Period Ended 31 March 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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At 31 March 2023 | | | | |||
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At 1 April 2022 | | | | |||
Charge for year | | | | |||
On disposals | ||||||
Other adjustments | ||||||
At 31 March 2023 | | | | |||
Net book value | ||||||
At 31 March 2023 | | | | |||
At 31 March 2022 | | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
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£ | £ | |
Stocks | | |
Total | | |
for the Period Ended 31 March 2023
2022 | ||
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£ | ||
Other creditors | | |
Total | |
During its third year of operation the Teign Valley Larder (TVL) increased its level of activity and benefited the community in a number of ways:- The continued provision of essential food and personal hygiene items through its five larder locations of Ashton, Bridford, Christow, Doddiscombsleigh and Dunsford, with each of these five locations hosting a 24 hour self-service box and Christow additionally providing a larger store of items inside St James’s church, accessible during the day. The larders are maintained by a team of volunteers who replenish stock from the Christow-based storage facility as needed. During the 12 months ending 31 March 2023 TVL provided the equivalent of 12,873 meals (an average of 248 meal equivalents a week, compared with 143 a week in 2021 – 2022 and 99 a week in 2020 - 2021) with a total stock turnover of just under 36,000 items. This increase in demand proved challenging in several ways: first, it occurred during a year when there were periodic shortages of basic foods and other items and most supermarkets introduced rationing, making it difficult to source sufficient stock; second, the ‘cost of living crisis’ disproportionately affected TVL as the supermarket basics ranges were subject to higher percentage price rises than standard goods; third, several items were removed from basics ranges forcing us to purchase costlier, standard items; fourth, the number of donated food items received via Fareshare fell; and finally, our volunteers struggled to replenish the Larders fast enough to ensure there was always a good range of food on offer as demand rose. In spite of these challenges we were able to ensure that in the main Christow Larder at least, there was always sufficient food available for several basic family meals. - A special Heat and Eat winter project ran from December 2022 to February 2023 and distributed 958 ambient storage, microwaveable ready meals to 23 local households totalling 62 people. Unusually for TVL, these meals were available only by application.- Reduction of food waste by offering long-life items that have exceeded their best before date and fresh fruit and vegetables donated as surplus stock from local suppliers such as Teign Greens and delivered through the FareShare South West scheme to which TVL subscribes. Provision of fresh eggs has continued with a local producer donating their surplus stock each week.
No consultation with stakeholders
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
12 October 2023
And signed on behalf of the board by:
Name: Corony Edwards
Status: Director