REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Barnabas Community Projects Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Barnabas Community Projects Ltd |
Barnabas Community Projects Ltd |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 17 |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Report of the Trustees |
for the year ended 31 March 2024 |
The trustees 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 March 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 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
As a Christian Charity we are very privileged to be able to serve our local community in Shrewsbury and surrounding areas. We are delighted and grateful to have over 100 willing volunteers and 4 staff members who manage our work. |
This has enabled the charity to operate at high capacity in its core functions: foodbank provisions, money advice service, a bereavement service and a range of life skills courses. The charity has engaged with well over 4,000 vulnerable households. For Christmas 2023 we were able to provide just under 500 hampers. We also work closely with Acts 435, a national charity based in York, and we support over 50 local households each year with goods and services. |
The help and support we provide is based on a referral system and we have developed a good working relationship with over 60 local organisations. |
Thanks to the generosity and good will of individuals and organisations we have gratefully received groceries and provided food and other essential items to local people. In addition, and thanks to financial donations and fund raising activities, we are able to operate from a strong financial position. |
Regretfully, our proposed partnership with "Green Pastures" to set up housing units for vulnerable individuals did not materialise but we are fully engaged with existing initiatives. |
In February 2024 we said a fond farewell to our chairman Martin Charlesworth who is focusing on other work. He was instrumental in setting up the food bank in 1998 as part of Barnabas Community Church and was a founder director of Barnabas Community Projects when it was established in 2015. We are very much indebted to him for his commitment, expertise and hard work over a long period of time. |
Significant activities |
The main activities of the charity are the running of the Food Bank, the relief of poverty and financial hardship, the relief of physical and mental health and the promotion of social inclusion. |
When planning the activities for the period the directors have considered the Charity Commission's guidance on public benefit. The charity operates in and around Shrewsbury and has a number of activities which seek to reach out to the local community as well as serving members of the church. |
The Directors and Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Report of the Trustees |
for the year ended 31 March 2024 |
FINANCIAL REVIEW |
During the period the charity received income totalling £196,888 (2023: £160,829) and incurred general expenditure of £197,726 (2023: £143,852). |
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six month's expenditure, deemed to be £80,000. The Directors and Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. |
As at 31 March 2024 the total reserves were £252,337 (2023: £253,175) with £625 (2023: £8,805) in a restricted fund and £251,712 (2023: £244,370) unrestricted. |
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. |
The charity became a company limited by guarantee on 31st August 2014. It does not have share capital. |
The charitable company was registered with the Charity Commission on 11th March 2015. |
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: |
J M L Charlesworth | resigned 20.02.24 |
R Buckle |
T S Cave | resigned 10.09.23 |
A J Rayment |
D E Matthias |
S J Heys | appointed 18.04.23 |
C A Jones | appointed 18.04.23 |
P Extance | appointed 07.11.23 |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Report of the Trustees |
for the year ended 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
According to the Articles of Association, there is no maximum number of directors. The minimum number is three, eight or nine seems to be about the best, and allows for specialisation within the directorate (finance, child protection, health and safety, staff etc). |
All directors must be members of Barnabas Community Church. |
Directors may be remunerated, according to article 7.2 (a) which states that "a director or connected person may receive a benefit from the charity in the capacity of a beneficiary of the charity provided that a majority of the directors do not benefit in this way". |
Directors serve for three years after which they can be re-elected. |
In looking for new directors, we follow a "job description", with a particular view to filling any of the roles within the directorship that may be lacking. Directors make a joint decision about approaching one of the Barnabas members, and then delegate the responsibility of discussing with this person further. |
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London, WC1A 1DU). |
The company's current policy concerning the payment of trade creditors is to: |
settle the terms of payment with suppliers when agreeing the terms of each transaction; |
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and |
pay in accordance with the company's contractual and other legal obligations. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Report of the Trustees |
for the year ended 31 March 2024 |
Trustees |
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: |
J M L Charlesworth | resigned 20.02.24 |
R Buckle |
T S Cave | resigned 10.09.23 |
A J Rayment |
D E Matthias |
S J Heys | appointed 18.04.23 |
C A Jones | appointed 18.04.23 |
P Extance | appointed 07.11.23 |
Independent Examiner |
WR Partners |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Bankers |
Shrewsbury |
Shropshire |
SY1 2BU |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Barnabas Community Projects Ltd |
Independent examiner's report to the trustees of Barnabas Community Projects Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its 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 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Helen Pierce |
WR Partners |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
10 September 2024 |
Barnabas Community Projects Ltd |
Statement of Financial Activities |
for the year ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 11 | 8,000 | (8,000 | ) | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 253,175 |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 244,370 |
Restricted funds | 8,805 |
TOTAL FUNDS | 253,175 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Barnabas Community Projects Ltd (Registered number: 09197084) |
Balance Sheet - continued |
31 March 2024 |
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 |
Barnabas Community Projects Ltd |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | 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 1 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 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 in order to write off each asset over its estimated useful life. |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
The charity operates a Foodbank and receives goods via donations from third parties and purchases of fresh food by the charity. These items are distributed to third parties in need without generating an income and therefore it is not considered appropriate to include a value for them in the financial statements. This is a consistent approach year on year. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
The charity receives tax refunds in respect of deeds of covenants and gift aid donations. These are accounted for in the period in which the original donation was received. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
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 statements. |
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. |
Employee benefits |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Critical accounting estimates and judgements |
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Financial instruments |
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Financial assets are derecognised when (a) a contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Deficit on disposal of fixed assets |
Independent Examiner's fees | 1,000 | 1,000 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
Travel expenses of £123 were paid to a trustee during the year (2023 £Nil). |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Administration |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 205,139 | (205,139 | ) | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 17,421 | 218,777 |
TOTAL FUNDS CARRIED FORWARD | 244,370 | 8,805 | 253,175 |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
8. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | (8,101 | ) | 32,768 | 8,000 | 32,667 |
Foodbank | 43,729 | 70 | - | 43,799 |
Foodbank Plus | 208,742 | (33,496 | ) | - | 175,246 |
(658 | ) |
Restricted funds |
Fuel poverty fund | 805 | (180 | ) | - | 625 |
Van replacement | 8,000 | - | (8,000 | ) | - |
(180 | ) | ( |
) |
TOTAL FUNDS | (838 | ) | 252,337 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 148,427 | (115,659 | ) | 32,768 |
Foodbank | 70 | - | 70 |
Foodbank Plus | 48,371 | (81,867 | ) | (33,496 | ) |
( |
) | (658 | ) |
Restricted funds |
Fuel poverty fund | 20 | (200 | ) | (180 | ) |
TOTAL FUNDS | ( |
) | (838 | ) |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 17,421 | (25,372 | ) | (150 | ) | (8,101 | ) |
Foodbank | - | (12,375 | ) | 56,104 | 43,729 |
Foodbank Plus | - | 59,557 | 149,185 | 208,742 |
17,421 | 21,810 | 205,139 | 244,370 |
Restricted funds |
Food Bank | 2,528 | - | (2,528 | ) | - |
Food Bank PLUS | 202,761 | - | (202,761 | ) | - |
Crisis | 13,488 | (13,488 | ) | - | - |
Acts 435 | - | (150 | ) | 150 | - |
Fuel poverty fund | - | 805 | - | 805 |
Van replacement | - | 8,000 | - | 8,000 |
218,777 | (4,833 | ) | (205,139 | ) | 8,805 |
TOTAL FUNDS | 236,198 | 16,977 | - | 253,175 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 53,178 | (78,550 | ) | (25,372 | ) |
Foodbank | 10,517 | (22,892 | ) | (12,375 | ) |
Foodbank Plus | 79,907 | (20,350 | ) | 59,557 |
143,602 | (121,792 | ) | 21,810 |
Restricted funds |
Crisis | - | (13,488 | ) | (13,488 | ) |
Acts 435 | 8,232 | (8,382 | ) | (150 | ) |
Fuel poverty fund | 995 | (190 | ) | 805 |
Van replacement | 8,000 | - | 8,000 |
17,227 | (22,060 | ) | (4,833 | ) |
TOTAL FUNDS | 160,829 | (143,852 | ) | 16,977 |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 17,421 | 7,396 | 7,850 | 32,667 |
Foodbank | - | (12,305 | ) | 56,104 | 43,799 |
Foodbank Plus | - | 26,061 | 149,185 | 175,246 |
17,421 | 21,152 | 213,139 | 251,712 |
Restricted funds |
Food Bank | 2,528 | - | (2,528 | ) | - |
Food Bank PLUS | 202,761 | - | (202,761 | ) | - |
Crisis | 13,488 | (13,488 | ) | - | - |
Acts 435 | - | (150 | ) | 150 | - |
Fuel poverty fund | - | 625 | - | 625 |
Van replacement | - | 8,000 | (8,000 | ) | - |
218,777 | (5,013 | ) | (213,139 | ) | 625 |
TOTAL FUNDS | 236,198 | 16,139 | - | 252,337 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 201,605 | (194,209 | ) | 7,396 |
Foodbank | 10,587 | (22,892 | ) | (12,305 | ) |
Foodbank Plus | 128,278 | (102,217 | ) | 26,061 |
340,470 | (319,318 | ) | 21,152 |
Restricted funds |
Crisis | - | (13,488 | ) | (13,488 | ) |
Acts 435 | 8,232 | (8,382 | ) | (150 | ) |
Fuel poverty fund | 1,015 | (390 | ) | 625 |
Van replacement | 8,000 | - | 8,000 |
17,247 | (22,260 | ) | (5,013 | ) |
TOTAL FUNDS | 357,717 | (341,578 | ) | 16,139 |
Barnabas Community Projects Ltd |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
12. | RELATED PARTY DISCLOSURES |
13. | DESIGNATED FUNDS INCLUDED IN UNRESTRICTED FUNDS |
The following amounts are included in the unrestricted account, but have been designated by the Trustees for the designated purposes noted below. |
£ |
360 Foundations | 365 |
Breathe | 713 |
Shrewsbury Town Council Grant | 1,000 |
Fresh Food Campaign | 2,807 |
Meole Brace - Home Starter Fund | 560 |