Week 26 (14th week): £13.26 taken, £787.83 spent = £774.57 deficit
Cumulative: £14,972.77 taken, £8,232.49 spent = £6,740.28 surplus = 45% remaining on hand
No income received from Gofundme this week (another £40 or so due imminently); we essentially no longer have any significant income so the money will run out in approximately two months. This seems like it might dovetail with the plans to taper off the food deliveries.
Week 27 (15th week): £71.03 taken, £834.52 spent = £763.49 deficit
Cumulative: £15,043.80 taken (we broke £15k last week!), £9,067.01 spent = £5,976.79 surplus = 40% remaining on hand
Our reserves took a big dip last week due to a few big ingredients/packaging orders plus paying a £336 invoice from Fareshare for the deliveries we’ve been getting since April.
PS made a mistake in the cumulative numbers, have fixed now
Week 28 (16th week): £33.04 taken, £189.56 spent = £156.50 deficit
Cumulative: £15,076.86 taken, £9,256.57 spent = £5,820.29 surplus = 39% remaining on hand
Not much in or out last week, as it happened - no particular reason for this. Our petrol expenditure has of course gone way down - only £20-30 whereas it was frequently more than £70 before. This represents lower mileage due to double drops and also the fact that most of the current drivers aren’t claiming money for petrol
Week 29 (17th week): £115.61 taken, £162.58 spent = £46.97 deficit
Cumulative: £15,192.47 taken, £9,419.15 spent = £5,773.32 surplus = 38% remaining on hand
Our reserves continue to go down but at a better rate, thanks to a bit more gofundme income. There was one ingredients/packaging invoice from last week which didn’t get paid until today so we also had some deferred costs not accounted for last week (so there will be a bigger deficit this week instead)
Week 30 (18th week): £61.56 taken, £360.73 spent = £299.17 deficit
Cumulative: £15,254.03 taken, £9,779.88 spent = £5,474.15 surplus = 36% remaining on hand
A more expensive week than usual due to the delayed invoice from the week previous. At this run rate (based on avg deficit of last 2 months) we have roughly about 3 months’ reserves remaining (this estimate doesn’t take any account of the decline in portions over time).
Week 31 (19th week): £3.56 taken, £241.12 = £237.56 deficit
Cumulative: £15,257.59 taken, £10,021.00 spent = £5,236.59 surplus = 34% remaining on hand
Essentially no income last week. By far our biggest expense this week was paying for numerous takeaways after various delivery disasters; also we gave a grant of £100 to Coopcycle for buying delivery boxes.
@ben could you possibly forecast how things would look after deliveries stop at the end of the month?
For example, do Warehouse Cafe need to invoice us for the use of the space? etc etc.
Yep definitely. I just need an idea of utility costs (@Paul?) and I think I have everything else I need to do a projection
edit: sounds like we could have the numbers for the next meeting, so I will do the forecast next week
Week 32 (20th week): £3.56 taken, £275.69 spent = £272.13 deficit
Cumulative: £15,261.15 taken, £10,296.69 spent = £4,964.46 surplus = 33% remaining on hand
Another comparatively expensive week in terms of supplies (ingredients and packaging/hygiene) although delivery expenses were only 1/3 of average.
Week 33 (21st week): £67.31 taken, £221.07 spent = £153.76 deficit
Cumulative: £15,328.46 taken, £10,517.76 spent = £4,810.70 surplus = 32% remaining on hand
Overall very similar to the last few weeks although we actually took a fair amount via Gocardless last week (due to when in the month subscriptions are set up, we get a bump in income every 3rd or 4th week)
A rough forecast of where we can expect to be after deliveries end:
Regular expenses wk 34+35: £400
Fareshare: £200
Utilities and cafe stock: £4,000
Total expenditure: £4,600
Income: £75
Deficit: £4,525
Leaving £285 in the bank
Less than I had hoped for - it would have been nice to have some funds to channel into future CB projects - but delivering >15,000 meals and breaking even is pretty good.
PS: since cafe staff (@Seb @Paul @Ciara) have been individually out of pocket for supplies, I will be prioritising their repayments in the event that there is a crunch and we need to fundraise money to cover a shortfall with BFOE (for example). To make sure we have the cash to do this I will need any outstanding expenses in the next couple of weeks as soon as possible 
Week 34 (22nd week): £3.56 taken, £72.74 spent = £69.18 deficit
Cumulative: £15,332.02 taken, £10,590.50 spent = £4,741.52 surplus = 31% remaining on hand
No ingredients or packaging expenses came through last week so not much in or out.
Updated forecast
Regular expenses wk 35+36: £400 (TBC)
Fareshare: £200 (TBC)
Waste: £550.56 (confirmed)
Stock: £114.84 (confirmed)
Rent: £750 (TBC)
Utilities: £1600.94 (April-July) + £1,100.06 (July & August, TBC)
Total expenditure: £4,716.40
Income: £75
Deficit: £4,641.40
Leaving £100 in the bank
This has unfortunately gotten worse since the last estimate, contrary to what I said in the meeting on Sunday. Somehow I forgot there was another month between June and August so I underestimated utilities by £550, which takes up basically all the rest of our surplus.
There is a possibility this may change slightly - the utilities seem more than expected and that makes up the bulk of the cost. If these change then we might be a little well off but it looks like we are looking at breaking even again. Our remaining ingredient costs might be a little lower depending on what’s been needed since the last Bookers order on the 13th.
Week 35 (23rd week): £13.26 taken, £213.49 spent = £200.23 deficit
Cumulative: £15,345.28 taken, £10,803.99 spent = £4,541.29 surplus = 30% remaining on hand
The last of the major food and packaging orders so quite an expensive week in that regard but no cause for concern.
Update on closing accounts
We have now paid for:
Leaving about £3,800 in the bank to pay:
So as well as the last couple of weeks being lower than expected on regular expenses (due to fewer drivers and less stock needing to be bought), it looks like our lower utility costs could leave us in a better place than per the last estimate. Should have cleared everything apart from potentially Fareshare by the next weekly update.
Week 36-38: £373.78 taken, £2,040.69 spent = £1,666.91 deficit
Cumulative: £15,719.06 taken, £12,094.68 = £2,864.38 surplus = 18% remaining on hand
(week 38 hasn’t ended yet but I don’t expect there will be any extra payments in the next 3 days)
We had the first bit of Gofundme income in some time (about £300) in addition to ongoing subscriptions. We have also paid our utility costs which have been knocked down to a much more bearable £540. It’s only the Fareshare closing invoice to be covered now.
error correction 4/3/21: weekly totals correct but cumulative expenditure was £12,844.68
Week 39-43: £201.02 taken, £0 spent = £201.02 surplus
Cumulative: £15,920.08 taken, £12,944.68 = £2,975.40 surplus = 19% remaining on hand
This is how things stood before beginning to do food for the half term free meals campaign
error correction 4/3/21 - typo in cumulative expendure, should be £12,844.68
Week 44-51: £1,527.19 taken, £392.89 = £1,135.19 surplus
Cumulative: £17,447.27 taken, £13,615.19 spent = £3,832.08 surplus = 22% remaining on hand
Gofundme income has been good in the last few weeks due to publicity from the Northfield food service work; we have also had £500 from them directly and a £250 direct donation. Meanwhile our outgoings continue to be fairly low as there are no longer any petrol expenses. We do still have a couple of things outstanding - Fareshare, perhaps some ingredients owed to chefs (?), and the repair/replacement cost on the kitchen fridge.
error correction 3/4/21: expenditure was £1,036.41 but there was a mistake in the spreadsheet so it was underreported. Cumulative takings correct, cumulative expenditure was £13,881.09 leaving surplus of £3,566.18 (20%)
Big accounts update because I haven’t done any this year!!!
Also made a few error corrections to the above.
All the big expenditures are out of the way - waste, Fareshare, and also a heap of money to BFOE for 5 months’ rent. Hopefully nothing else big for a while.
Week 1-10: £549.10 taken*, £3,114.99 spent = £2,565.89 deficit
Cumulative: £18,007.75 taken, £16,996.08 spent = £1,011.67 surplus = 6%
*likely to be slightly more as it’s only Wed of wk 10
We previously agreed to try to keep £1,000 in reserves and now we’re on that limit. It would be helpful to know our weekly run rate so I will make an estimate:
The average weekly expenditure this calendar year has been inflated by:
Accounting for all of these, our average run rate is about £145 per week. Our income is about £55 per week so we lose £90 per week. At this rate (leaving aside our plan to keep £1k in reserves) we have about 11 weeks’ money left.
After today’s news we now have 4 weeks of not needing to cook for Northfield Food Service (we will probably have to find some use for perishable food we have already bought…) which may reduce the rent unless we choose to cook on the same schedule and distribute some other way.
This pushes back the horizon a bit more, but in any case, we need to leave the AGM with either a plan to raise income by at least £100/wk (tripling present income), or a total change of direction - apart from odd miscellaneous items it doesn’t seem like our expenditure can really be reduced.
Thanks @ben as you can’t make the meeting do you want someone to present these figures on your behalf? I’m happy to do so.
Sure, thanks. I will write a fuller report in the next few days
Week 11-21: £1,171.32 taken by Tuesday of wk21, £579.38 spent = £590.20 surplus
Cumulative: £19,262.84 taken, £17,670.38 spent = £1,592.46 surplus
We continue to get a small income from Gocardless but the majority of the income in this period came from 2 large donations via the Gofundme.
Approximate expenditure was £160 for masks for KTB, £110 packaging, £70 ingredients, £200 rent and £20 utilities.
I’m now pulling the plug on the back account and have transferred the balance (£1,592.46) into the Open Collective. Since the accounts are open and presented nicely on there I will probably only do occasional reports from now on.
I will carry on transferring any money that arrives from Gocardless subscribers or the Gofundme… we should however probably close the Gofundme and consider cancelling the Gocardless if we can take the time to contact all subscribers and ask them to change to Open Collective.
I have attached the accounts file for future reference:
Solidarity Kitchen accounts.ods (185.7 KB)