Annual report
Trustees Report and Statement of Financial Activities.
Year ended 31 March 2025
This report provides an overview of the financial activities of One Can Trust for the fiscal year ending 2023. As trustees, we present this information to keep stakeholders informed about the organisations financial health and performance during the specified period.
Trustees Report and Statement of Financial Activities.
Year ended 31 March 2024
This report provides an overview of the financial activities of One Can Trust for the fiscal year ending 2023. As trustees, we present this information to keep stakeholders informed about the organisations financial health and performance during the specified period.
Trustees Report and Statement of Financial Activities.
Year ended 31 August 2023
This report provides an overview of the financial activities of One Can Trust for the fiscal year ending 2023. As trustees, we present this information to keep stakeholders informed about the organisations financial health and performance during the specified period.
FAQ’s
Responses relating to 24/25 report
Finances
Q: Are reserves being managed responsibly?
A: OCT has a high level of reserves. These were built up over COVID when donations and grants were generously given. Trustees have a responsibility to manage these reserves effectively. This means getting the balance right between using reserves for the benefit of clients, for example to pilot new services, and ensuring there is enough to cover potential extraordinary costs in one year, such as if we had to move premises or face higher rent, or if there was any other unexpected situation such as a surge in demand and additional food costs were incurred.
Q: Did the charity run a deficit, and why?
A: OCT budgeted for a small, planned loss. We were able to do this in light of high levels of reserves and it was felt that a small amount should be used for operating costs, in particular higher staffing costs given our expansion into Food Programmes and our successful school meals as well as acquisition of Hills Cafe.
Q: Is OCT financially stable?
A: OCT’s finances are scrutinised by the Board as well as relevant subcommittees on a frequent basis. Staff and trustees focus on ensuring that every penny is spent wisely. Although OCT reported a small loss this year, the OCT Board is assured that the charity has enough income to run effectively.
Governance
Q: Were there any major changes in leadership or structure this year?
A: There were no changes in leadership in the fiscal 2024-25 year. In June 2025, OCT appointed an interim CEO. The salary cost associated with this role will be part of the expenditure for 2025-26, but the Trustees are ensuring and have agreed that charity will not exceed the planned costs and other cost improvement initiatives have been implemented.
Q: Why were there lots of changes to the membership of the Board of Trustees?
A: Over the year we had several changes to the Board of Trustees. In the past year three trustees retired, having served long terms on the Board. It is important that the Board has the right mix of skills to function effectively including having trustees who are able to fulfil key roles such as Company Secretary and Treasurer, as well as diverse backgrounds – namely governance, risk management, marketing, legal to finance competences. All new Trustees have gone through a selection process and appointments are ratified and also shared with members at the AGM. For continuity we are proud that a number of former Trustees remain committed members and attend the AGM. As we have grown from a charity from a £60k to now £600k cost base, we have also evolved the Trustee composition to ensure that we have the right mix of people to take the charity forward.
Future Plans
Q: What are the charity’s priorities for the coming year?
A: We have been working on a three-year strategy and are excited to be able to publish this shortly. Our main priorities continue to be providing food and services to people in hardship. In order to ensure our long -term sustainability we have also upweighted our focus on diversifying our funding and brought in more financial rigour to gain assurance as a Board to our longevity to service those in need, as long as there is a need.
Q: Are there new projects planned?
A: OCT responds to the needs of our clients. In 2026, the team are looking to explore how we can reduce stigma, for example, increasing our representation of clients in the BAME community as well as how we help those long-term clients that may have been with us for over 14 referrals. We are also committed to ensuring that as we end our School Meals programme with the introduction of the new government changes, that our families who we have supported are accessing free meals for their children.
