REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
SWINDON'S FOOD COLLECTIVE LTD |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
SWINDON'S FOOD COLLECTIVE LTD |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
SWINDON'S FOOD COLLECTIVE LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Statement of Financial Position | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST 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 31st 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 |
Charity Mission |
The charity's objects ('Objects') as set out company's memorandum and articles of association are: |
The prevention or relief of poverty and to preserve and protect good health by providing food, non-food and non-alcoholic beverages to those in financial need or poor health in the Swindon and District area of Wiltshire. |
The charity also has a mission: |
To reduce the impact of food poverty on people in crisis in the Swindon and district area. |
The Charity provides short term assistance in the form of emergency food parcels to anyone who faces short term difficulties through unemployment, benefit delays, low income or other financial difficulties. Clients are provided with a nutritionally balanced supply of food, sufficient for 3-5 days and should their needs persist then further assistance through the Food Collective will be available. The Charity's volunteers seek to refer clients to other support agencies through whom they can obtain longer term help. |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity currently comprises of a board of 6 trustees, a company secretary, 5 part-time employed staff and is supported by over 100 volunteers. We lease a warehouse where food is delivered, sorted, stored, picked and packed into emergency food parcels. We distribute from 11 centres located in various church halls in and around Swindon, we have 3 vans which are used to collect donations from various locations and deliver food to our distribution centres. Each van is sponsored by a corporate supporter whose logo is displayed in exchange for a financial donation. |
Our service relies on the goodwill of our volunteers who donate their time regularly to support the warehouse operations, assist our service users at the distribution centres and manage the delivery and collection of goods. Each volunteer donates at least 3 hours a week and this gives the charity in excess of 15,000 hours per year as a minimum, many volunteers do two or more sessions a week. |
Last year we were privileged to have 19 employee teams from various businesses in and around Swindon to come in to help us in the warehouse. This is an enormous help and we will continue with this level of support again this year, the Trustees appreciate the support of all volunteers and send our heartfelt thanks to them all. |
Last year we purchased our first Electric vehicle, this has been very successful and in line with our 3-year plan we will swap all vehicles to Electric over the coming years. |
The charity will continue to use The Bible Society Warehouse, including additional warehouse and office space for which we are extremely grateful. We have concluded the lease negotiations and this will run until March 2026 |
Food Collective works in partnership with many supermarkets and businesses across the town who host collection bins for shoppers to deposit food. We also receive donations from Churches, local businesses and schools. The total volumes of donations have declined again this year as we continuously purchase food to ensure we have enough to supply our clients. These items are paid for through the financial generosity of our regular donors, large local companies and supporters as well as two significant grants from Swindon Borough and Wiltshire Council. |
Each individual or family referred to the food bank will collect a nutritionally balanced food box, personal toiletries and household cleaning products from their chosen distribution centre. We have also continued to offer top-up-bags (TUB) for each new referral (at centres which have sufficient storage space) and extra product that has been donated but not within our staple boxes, ie gravy granules Jams, ketchups, mayonnaise, treats etc. In addition, we continue to offer Easter, Summer and Christmas bags which increases our support at difficult times, this is over and above the normal food box on offer. |
Over the last 3 years we have offered hot water bottles and blankets along with other essential provisions, to help keep our clients warm, this is paid for through the generosity of our regular donors and supporters. These were much appreciated and will be repeated this winter. We also continue to signpost clients to other local support agencies for appropriate assistance with benefits, debt, help with household bills etc. |
We continue to work with other organisations in the area who provide food to vulnerable people, all baby products are delivered direct to Grow Baby on a monthly basis. We also continue to support Gorse Hill Community Fridge, with any surplus stock and any out of date product. In addition, we help Swindon Caring Hearts, The Foyer, GWH, The Harbour Project & Great Western Hotel (supported accommodation for the homeless). |
We have also specifically created an offer of "kettle foods" for anyone without cooking facilities, creating separate boxes including pot noddle's, dried foods, crackers and paste, soups etc |
During the year, we received 85.09 tonnes of donated stock and distributed 115.7 tonnes, we purchased 17.5 tonnes to enable us to continue our credible service. |
During the financial year of April 2023 to March 2024 SFC assisted over 10,350 people of which roughly 25% were children. |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FINANCIAL REVIEW |
Reserves policy |
It is the policy of Swindon's Food Collective to hold in reserve the equivalent of 24 months' general running costs and hold these as designated future expenses. |
Free Reserves are those monies held by the charity that are not designated. |
FUTURE PLANS |
We will continue to review and update the 3-year business plan to ensure Swindon Food Collective remains sustainable and capable of meeting the ever-changing and continuing increasing demand. We will work closely with the Swindon Borough Council to support other local food agencies |
Key planned activities for 2024/2025 include: |
- The additional employment of an Operations Manager |
- Continue and improve our support to the many other Charities in and around Swindon area |
- Continue to supply hot water bottles and blankets during the winter period and for 2024 include the distribution of Kettles and Slow Cookers |
- Continue our ongoing plan to ensure we have enough staple stock to supply our clients and purchase accordingly. |
- Continue our plans to purchase another E vehicle to replace older diesel vans and contribute to reducing our carbon footprint |
- Ensure all staff are fully trained in both First Aid and Manual Handling. Continue our ongoing program to train all volunteers in Manual Handling training and reduce risk to Health & Safety |
- Create a Mental Health First Aid program to support all staff and volunteers |
- Review and improve our social media engagement with the support of local colleges |
- Create a business plan that enables funders to feel confident in our plans and support our strategy |
- Work on fundraising opportunities to maintain our current financial position |
The trustees intend to utilise some of the Free Reserves in the next financial year (2024/25) to: |
- Outsource HR to Roots HR to ensure all HR policies are in line with new legislation |
- Outsource the recruitment of new Operations Manager |
- Create the necessary training required to ensure a safe and healthy environment |
- Continue our ongoing plan to replace diesel vehicle(s) with electric vehicles |
- Introduce Mental Health first aid training |
- Continue our plans to fund renovation for the redevelopment of St Aldhelm's distribution centre to match fund the application of specific grant applications and awards. This will enable us to improve facilities there and so offer an enhanced service at our busiest centre. |
- Purchase staple food, kettle food and toiletries to ensure we have full supplies |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Trustees |
Independent Examiner |
Morris Owen |
Chartered Accountants |
43-45 Devizes Road |
SWINDON |
Wiltshire |
SN1 4BG |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
SWINDON'S FOOD COLLECTIVE LTD |
Independent examiner's report to the trustees of Swindon's Food Collective Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st 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. |
Ian Sumbler FCCA |
Morris Owen |
Chartered Accountants |
43-45 Devizes Road |
SWINDON |
Wiltshire |
SN1 4BG |
11th October 2024 |
SWINDON'S FOOD COLLECTIVE LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Direct charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 619,481 |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 603,312 |
Restricted funds | 16,169 |
TOTAL FUNDS | 619,481 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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. |
SWINDON'S FOOD COLLECTIVE LTD (REGISTERED NUMBER: 11503403) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST 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 |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | COMPANY INFORMATION |
Swindon's Food Collective Ltd is a company limited by guarantee, registered in England and wales. The company's registered number and registered office address are as below: |
Registered number: 11503403 |
Registered Office: The Warehouse, Bentham Close, Westlea, Swindon, Wiltshire SN5 7DG. |
These financial statements are presented in British Pounds (£), which is the company's functional and presentational currency. |
2. | 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. |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
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. |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Donated goods |
The vast majority of our stock is donated and no monetary value is attributed to it as we will be distributing to the community without onward charge. It is however important to recognise the amount held at any point in time. |
All stock is weighed in upon entering the warehouse and weighed out upon distribution. These are recorded in paper records which are transferred onto a database that provides extensive analysis around donors, types, distribution and stock held. A bi-annual stock take normally takes place late March and is compared to the stock database, a tolerance of 5% is allowed. Stock held at 31st March 2024 was 20,143 kg. |
3. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Membership |
Other income | 43 | - |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Other grants | 14,500 | 8,574 |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Interest receivable | 10,692 | 2,040 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
7. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Other pension costs |
68,403 | 59,425 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Support |
8. | INDEPENDENT EXAMINERS FEES |
2024 | 2023 |
£ | £ |
Statutory accounts production & external scrutiny | 1,680 | 1,560 |
1,680 | 1,560 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Direct charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 454,963 | 17,742 |
TOTAL FUNDS CARRIED FORWARD | 603,312 | 16,169 | 619,481 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Prepayments and accrued income |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 13) |
Trade creditors |
Other creditors |
Accruals and deferred income |
13. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Bank overdrafts |
14. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 603,312 | 77,584 | 680,896 |
Restricted funds |
Restricted asset | 16,169 | (2,695 | ) | 13,474 |
TOTAL FUNDS | 74,889 | 694,370 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 221,915 | (144,331 | ) | 77,584 |
Restricted funds |
Restricted asset | - | (2,695 | ) | (2,695 | ) |
Restricted operating | 12,000 | (12,000 | ) | - |
( |
) | (2,695 | ) |
TOTAL FUNDS | ( |
) | 74,889 |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
14. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 454,963 | 148,349 | 603,312 |
Restricted funds |
Restricted asset | 16,169 | - | 16,169 |
Restricted operating | 1,573 | (1,573 | ) | - |
17,742 | (1,573 | ) | 16,169 |
TOTAL FUNDS | 472,705 | 146,776 | 619,481 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 271,048 | (122,699 | ) | 148,349 |
Restricted funds |
Restricted operating | 3,573 | (5,146 | ) | (1,573 | ) |
TOTAL FUNDS | 274,621 | (127,845 | ) | 146,776 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 454,963 | 225,933 | 680,896 |
Restricted funds |
Restricted asset | 16,169 | (2,695 | ) | 13,474 |
Restricted operating | 1,573 | (1,573 | ) | - |
17,742 | (4,268 | ) | 13,474 |
TOTAL FUNDS | 472,705 | 221,665 | 694,370 |
SWINDON'S FOOD COLLECTIVE LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
14. | 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 | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 492,963 | (267,030 | ) | 225,933 |
Restricted funds |
Restricted asset | - | (2,695 | ) | (2,695 | ) |
Restricted operating | 15,573 | (17,146 | ) | (1,573 | ) |
15,573 | (19,841 | ) | (4,268 | ) |
TOTAL FUNDS | 508,536 | (286,871 | ) | 221,665 |
15. | RELATED PARTY DISCLOSURES |