The Trustees present their annual report and financial statements for the year ended 31 January 2026.
The Trustees, who are the directors for the purposes of company law, present their annual report together with the financial statements of Storehouse North Down for the year to 31 January 2026.
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Storehouse North Down (the Charity) is a registered charity and is structured as company limited by guarantee registered on 12th January 2015. The Charity's governing document is its Memorandum and Articles of Association.
The principal objectives of the Charity are contained in the Memorandum and are as follows;
a) to relieve sickness, financial hardship and poverty and to promote and preserve good health by the provision of funds, goods or services of any kind, including but not by way of limitation through the provision of emergency food packages in such parts of North Down and Donaghadee, Northern Ireland or the world as the Trustees see fit;
b) to benefit the residents of North Down and Donaghadee or such parts of Northern Ireland or the world without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents.
In this reporting period the Trustees have focused on the relief of food poverty by the provision of emergency food packages in such parts of North Down and the surrounding area as the trustees from time to time see fit. It is the aim of the Charity that no one in North Down should go hungry.
Context
Storehouse North Down commenced activity in November 2012. All reporting from that date to 11 January 2015 was done through Storehouse Belfast accounts.
Management
The Chairperson and the Manager of the Charity report to the trustees, who meet on a regular basis. The Charity works by referrals from recognised agencies both statutory and voluntary, community workers, and church personnel. Our manager continues to have strong links with other foodbanks in the area, local council, community officers, press and businesses in the area and reports back to the trustees on meetings with such bodies. We are represented on the Ards and North Down Forum on poverty and on North Down Community Network Board.
Support from the community
We are really appreciative of the support we have in the local community. Again over 50 churches continue to support us either weekly or monthly . Many businesses support us including Sainsbury’s ,the Eurospars in our area , the local Co-Op, Tesco and Asda. Marks & Spencer continue to give us their surplus bread, fruit etc. These have been well received by our clients. . We also have contacts with local farmers and are able to supply fresh vegetables when in season. These with meat from local butchers mean that our clients are able to make nutritious meals.
The schools in North Down have harvest and Christmas collections and youth organisations also support us. Indeed before Christmas many businesses hold fund raising days. The support is overwhelming and enables us to fulfil all the requests we have for hampers at Christmas time. We are also thankful for the financial support we receive as this enables us to to buy items we are short of . We have set up a hardship fund to help support agencies whose clients are struggling with fuel poverty and purchase of essential items.
The Hygiene Bank continues to support us and this is greatly appreciated.
Volunteers
The charity is run by a board of Trustees and a very enthusiastic and dedicated group of volunteers under a Management team and supported by our Chairperson . Each new volunteer is given an induction pack and is kept up to date on all health and safety procedures.
We continued to operate with the support of a small number of our volunteers. They have been fantastic. We owe a great debt of gratitude to our volunteers, who are mostly senior citizens, for their dedication. We continue to open two days per week. Our volunteers sort and date our incoming donations. The volunteers then make up the requested hampers.
Hampers
The continuing increase in the cost of living, due to the economic situation, has had an impact on us. We have seen a decrease in our monetary donations but our grocery donations have increased.
We are giving out approximately 20 hampers per week which is slightly less than last year. During 2026 we have given out 1,299 hampers which includes 423 Christmas hampers. We have increased the size of the hampers and recorded the items to reflect current prices. The total value of these hampers was £145,000 which includes fresh food.
There has been an increase in community initiatives and we have been supporting them with donations to the value £17,875. We will continue to support those in need including the Immigrant community and the homeless.
We thank God for his faithfulness in providing everything that we have needed. We are able to meet all the requests we receive.
We are expecting to see an increase in requests in hampers in 2026 as the price of food and utilities continues to increase.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
The income for the period was £201,530 and our expenditure was £215,905. Our assets comprise food stocks amount to £32,280 and cash in the bank of £230,552.
The board is currently made up of 7 trustees who support the Christian ethos of the Charity (during the year two trustees resigned and one new trustee was appointed). They bring to the board many skills which are relevant to the smooth running of the charity. The appointment of any trustee follows the guidelines set out in our Memorandum and Articles of association. On appointment new trustees will be given the relevant training and all information regarding the duties of a trustee.
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:
Risk management
The Trustees regard the Charities main risks to be the continuity of food donations. The diversity of the contributing organisations for food mitigates this risk. Regular communication with these organisations is maintained to demonstrate the continuing need for donations.
The Trustees, who are also the directors of Storehouse North Down for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law (United Kingdom Generally Accepted Accounting Practice). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the company for that period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regimes within Part 15 of the Companies Act 2006.
The Trustees' report was approved by the Board of Trustees.
I report on the financial statements of the Charity for the year ended 31 January 2026, which are set out on pages 6 to 14.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:
examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and
state whether particular matters have come to my attention.
I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe that:
1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
2. The financial statements do not accord with those accounting records; or
3. The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
4. There is further information needed for a proper understanding of the financial statements to be reached.
I have completed my examination and I have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Storehouse North Down is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 12 Balloo Avenue, Bangor, County Down, BT19 7QT.
The financial statements have been prepared in accordance with the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with. the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
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.
In the Trustees' opinions, there are no significant judgements, estimates and assumptions made about the recognition of assets, liabilities, incomes and expenses.
Food parcels issued
Food expenses
Meat vouchers issued
Rent
Bank fees
Hardship fund
Establishment expenses
Governance costs includes payments to the auditors of £900 (2025- £900) for audit fees.
The average number of trustees who served during the year was 7 (2025: 8).
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
The average monthly number of employees during the year was:
All services are provided on a voluntary basis and there were no employees during the year.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
There were no disclosable related party transactions during the year (2025 - none).