Charity Registration No. 1039457
Company Registration No. 2946010 (England and Wales)
PROJECT HOPE, UNITED KINGDOM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2021
PROJECT HOPE, UNITED KINGDOM
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees LM Cannon RG Evans K Thomson JD H Heath Dame A Chilcott Fawcett Secretary Ms A Block-Schlesier Charity number 1039457 Company number 2946010 Registered office Annexe Lorien Chiltern Road Amersham Buckinghamshire HP6 5PH Independent Examiners Rickard Luckin Limited 1st Floor County House 100 New London Road Chelmsford Essex CM2 0RG Solicitors Farrer & Co LLP 66 Lincoln's Inn Fields London WC2A 3LH
PROJECT HOPE, UNITED KINGDOM
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 6 |
| Statement of trustees' responsibilities | 6 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 19 |
PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
The trustees present their annual report and financial statements for the year ended 29 June 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], 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)" (effective 1 January 2019). This Trustees' Report also includes the Directors Report as required by Company Law.
Objectives and activities
The objects of the Charity are the advancement of health education and the relief of sickness, affliction, and physical disability of the populations of developing and less favoured countries and communities, including communities within developed industrial countries. There have been no changes in these objectives since the last annual report.
When planning the activities for the year, the Directors have considered the Charity Commission’s guidance on public benefit and are satisfied that the Charity’s activities met the principles laid out in that guidance. The Charity aims to benefit the public in the communities with which it works by raising funds and donations for conducting health education, policy research and to support critical health programmes and pursue long term strategies leading to improvements in the health status of vulnerable children that can be sustained after Project HOPE UK’s work has been completed.
In the period to 29 June 2021, the Directors agreed that the Charity would devote its best efforts to the further development of its signature programme to transform the care and well-being of orphans and other vulnerable children in the township of Munsieville, South Africa, aiming to create an influential “model of excellence” that can be adapted and replicated by impoverished communities worldwide.
In line with the Directors’ commitment to see Project HOPE UK become an organisation with a core specialism in the health and well-being of vulnerable children in less-developed countries, efforts have been made to build on the operational successes of recent years to develop a broad-based network of local groups and individuals who are being equipped and empowered to become agents of transformational change with the aim of affording all children in the community the opportunity to emerge into adulthood as healthy, productive citizens.
Grant making policy
Project HOPE UK voluntarily agrees to work with other organisations to deliver some activities on its behalf. It does not consider unsolicited funding requests but does, from time to time, provide grants or donations of medical supplies to external charitable organisations to undertake certain humanitarian activities that are predetermined by the Board of directors and which are in line with the strategic objectives of Project HOPE UK.
Achievements and performance
The Charity has continued to concentrate on its established programme in South Africa, which is now into its 11th year of commitment. The purpose of the programme is to seek lasting and sustainable solutions to the many drivers of poor health and child mortality in townships in Southern Africa, based on broad-based community engagement, and the support of already existing services. The principal location for this work is Munsieville township in Gauteng Province.
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PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
In the first two years of implementing the programme, the local Project Hope team identified six key changes that would be required to transform Munsieville from a place of danger and hostility to vulnerable children, to become a sustainable, child-friendly, community in which the interests of children are prioritised. Significant progress on these six themes will equip the community to continue to effect changes to negative behaviours affecting children, whilst honouring the rich and diverse cultures of the township. The six key priorities identified were:
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Rejecting poor quality pre-school care and insisting on professional early childhood development for all infants.
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Householders accepting personal responsibility for the safety of children within the home, eradicating the risk of fire, poisoning, and other home-based hazards.
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Creating a culture of “zero-tolerance” towards child abuse, replacing acceptance of abuse with a new culture of reporting and accountability.
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Parents and caregivers refusing to accept malnutrition in the children in their care and embracing their role as pro-active agents in food security.
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Parents and caregivers see themselves as champions of the health of the children in their care and the prime activists in accessing health services for them.
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Rejection of dependency and a “hand-out” culture, replaced by a new belief in personal, family and community wealth creation based on the assets of the township.
Progress made against the above points:
Good progress has been made in respect of priorities 1, 2, 3 and 4. To this end, most of the human and financial resources over the period covered by this report have been devoted to the further development of priority 4 and addressing the remaining two priorities.
Addressing Child Malnutrition
The “You Grow: They Grow” initiative has moved completely to Munsieville in terms of management, training, and community engagement. More than 600 high yield, drought-resistant food gardens, constructed according to keyhole gardening principles, have been installed, providing nutrient-rich fresh vegetables for 12 months in the year and benefitting more than 1,500 children. From the dedicated Child Nutrition Centre, donated by the Norton Rose Fulbright Foundation, regular workshops on nutrition are offered. These have attracted many external stakeholders as well as the South African Department of Health, now offering clinical nutrition on a regular basis. Specialist workshops are now included in the HIV/AIDS support groups offered by the Dept. of Health, to ensure healthy diets for people living with the virus and particularly those on ARV treatments.
The NGO ‘Food and Trees for Africa’ has been supporting the vegetable garden project over two years with another year to follow. This is being funded by the South African supermarket chain Checkers and Shoprite.
One of the key learnings in this area is that the household gardens get well established in the formal part of the township, where they are protected against animals, and community members get settled in brick-built houses. This means they stay in the area and maintain their gardens. In the informal settlement those gardens often get left behind when people move on. It is a much more temporary arrangement. Also, the more extreme weather conditions force people away from parts of the township. Severe floods in 2020 and 2021 destroyed large parts of the informal settlement, shack homes, gardens, and roads.
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PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
Therefore, the more sustainable and cost-effective solution is to involve community members in the development of our vegetable farm, where they use their own patch (much like an allotment), grow crops for their families and sell excess produce. When they move on, those beds get taken over by others that have registered their interest. The principles at the farm are the same as in the keyhole garden concept, just on a larger scale. The success is overwhelming, as after 6 years the knowledge and motivation in people has grown significantly, and it seems that working together on the farm is culturally much more appropriate.
Access to Healthcare Services
After the opening of Hope Park Children’s Health Campus in the heart of the Munsieville informal settlement, several local healthcare stakeholders and providers started operating from these premises. They are not asked for rent payments, and in return offer their services to the community for free. Services include, but are not limited to, HIV testing and counselling, alcohol- and substance abuse counselling and referrals, male circumcision, clinical nutrition, Social Services, oral health, family planning and reproductive health.
After Project HOPE UK established a permanent electricity connection in Hope Park in 2019, the Department of Health started with children’s vaccinations from one of the units, donated by Property Race Day. By 29th June 2021 more than 12,000 children, most of them 0-5 years old, received vaccines against diseases such as polio, measles, hepatitis B, diphtheria, tuberculosis and meningitis. This is according to the South African Child Immunisation Schedule. The dedicated nurses also provide de-worming for children, pap smears for young women and family planning.
The corona virus pandemic affected the township severely, however, Hope Park remained open, and the vaccinations continued under a strict guideline and hygiene regime. Some of the activities had to be put on hold temporarily due to stakeholders testing positive for coronavirus but re-opened fully. Hope Park was also used as a Covid-19 testing site, as well as a centre to feed families that lost their income due to the pandemic. On average 200 children per day were fed during the lockdowns and 250 families per month received food parcels.
Fhulofhelo Children’s Centre and No Child Left Behind.
Fhulofhelo Centre is a facility within Hope Park and was constructed in 2016. Young children excluded from mainstream education, due to their non-South African status, come to receive basic education to prepare them for schools, whilst efforts are made to obtain the necessary documents to access state school services. From 2016 to 2021, 155 children have been enrolled in the ‘No Child Left Behind’ project, with active participation of their parents. This project has proved highly successful in getting children into the mainstream school system. In February 2020 it was announced that schools must accept all children into mainstream education, regardless their status. With the facility being located within Hope Park, an added benefit for the children is immediate access to a range of health services which would have previously been out of reach. This part of the programme is time consuming but has a nearly 100% success rate regarding parents obtaining a legal status to stay in South Africa. It requires the special expertise of our Senior Case Worker.
Hope Park Children’s Sports and Performance Arena
Through the generous support of the Property Race Day Foundation, we were able to build the Hope Park Children’s Sports and Performance Arena which opened in October 2019. This completes the construction of Hope Park and adds an extremely valuable and safe outdoor space for the children in Munsieville. It is the only available space for them to exercise and play in the area and was also a great option for training and education during all lockdown stages. The arena was also used as a Covid-19 testing site and vaccination location.
Fundraising
The Charity has been sustained through the generous and committed support of a small number of individuals, Trustees, and staff members and is undertaking strenuous efforts to raise higher levels of unrestricted funding as well as project funding to cover vital aspects of the charity’s operations in South Africa.
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PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
Financial review
The Trustees recognise the risks associated with operating vital services to beneficiaries whilst having very low levels of reserves and undertook regular Board-level discussions to ensure that all commitments were met in the short-term, whilst action was taken to secure necessary funding on a sustainable basis for the future. Throughout this period, they continued to exercise close control of expenditure and where possible reduced the administrative costs of the Charity.
Voluntary help and donations in kind
All members of the Board gave their time freely and without charge.
We acknowledge and greatly appreciate the ongoing support of GlaxoSmithKline PLC, for providing rent free office accommodation, IT services and many other services to help the Charity keep running costs to a minimum.
In South Africa we receive support in kind from Norton Rose Fulbright Sandton, Rotary, Food and Trees for Africa, Checkers, Shoprite, AFM Noordheuwel, AfriSam, Dulux and Belgotex.
Reserves
Project Hope UK uses its resources very efficiently and effectively. This is evidenced by:
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Very low frictional costs – for each pound raised, 94% has been spent on direct project activities.
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Delivering what is promised – 100% record of completing projects started, including those that required multiple year implementation.
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Putting money raised to work - Project Hope UK puts cash to work and runs with low reserves. This has been made possible by the unusually low overhead and a fixed cost structure that allows us to deliver a low burden of costs, as above. Higher levels of reserves can be carried if this is a requirement of donors.
The Trustees recognise that the income of the Charity is subject to fluctuation and is committed to building reserves in coming years to ensure services to beneficiaries are maintained.
Risk management
The Trustees operate a rolling risk assessment programme, with quarterly review, covering the major risks to which the Charity is exposed, including those relating to the operations, employees, volunteers, beneficiaries of the Charity, the finances of the Charity and the low levels of free reserves it carries. They are satisfied that systems are in place to mitigate exposure to major risks in the UK and in its activity overseas.
The COO is in regular contact through phone calls and personal meetings with the Co-Chair Lista Cannon to update the Board of Trustees on progress and discuss all aspects of the programme operation. This is to ensure full transparency of the progress on the ground as well as to authorise vital steps in the transition to sustainability.
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PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
Structure, governance and management
The charity is a company limited by guarantee and is governed by its memorandum and articles of association. It is governed by a Board of Directors who are all volunteers and required to be members of the charity.
The trustees, who are also the directors for the purpose of company law, and who served during the year are as follows;
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LM Cannon
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RG Evans
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K Thomson
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JD H Health
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Dame A Chilcott Fawcett
No paid employees, whether in full or part time employment, may be elected to the Board. The election of members to the Board, in place of those retiring, takes place at the Annual General Meeting. The Directors may appoint any member to the Board to fill a casual vacancy or as an additional Director. A Director so appointed shall hold office only until the next Annual General Meeting when he/she shall retire and be reappointed.
When recruiting new Directors, the Board makes enquiries with its Patrons and advisors, and with relevant external bodies, in a bid to attract candidates with skills and experiences appropriate to the perceived needs of the Charity at that time.
Training and mentoring are made available to Directors as appropriate, to equip them to fulfil their duties in accordance with voluntary sector best practice and external requirements.
The staff team is accountable, to the Board, and is charged with the responsibility to execute the day-to-day operations of the Charity in accordance with the policies, procedures and budgets approved by the Board.
The Charity has no share capital or debentures.
Plans for future periods
The focus of the Charity over the coming year will remain to be strengthening the Thoughtful Path programme, in particular:
- a. Further development of the services offered from the Hope Park Children’s Health Campus, primarily through external service providers.
b. Expanding the reach and impact of the Child Nutrition Centre and the vegetable farm.
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c. Further work to promote volunteering and engagement of community members in activities to improve outcomes for vulnerable children.
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d. Develop the transition period to local fundraising and ownership including a strong South African Board of Directors.
The trustees' report was approved by the Board of Trustees.
.............................. K Thomson Trustee
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PROJECT HOPE, UNITED KINGDOM
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2021
Dated: .........................
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PROJECT HOPE, UNITED KINGDOM
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 29 JUNE 2021
The trustees, who are also the directors of Project Hope, United Kingdom for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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PROJECT HOPE, UNITED KINGDOM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PROJECT HOPE, UNITED KINGDOM
I report to the trustees on my examination of the financial statements of Project Hope, United Kingdom (the charity) for the year ended 29 June 2021.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 financial statements to be reached.
Caroline Peters Rickard Luckin Limited 1st Floor County House 100 New London Road Chelmsford Essex CM2 0RG
Dated: .........................
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PROJECT HOPE, UNITED KINGDOM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 29 JUNE 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 3 126,017 30,100 Activities for generating funds - - Total income 126,017 30,100 Expenditure on: Charitable activities 6 100,530 30,069 Gross transfers between funds - - Net income for the year/ Net movement in funds 25,487 31 Fund balances at 30 June 2020 (8,256) 27,865 Fund balances at 29 June 2021 17,231 27,896 |
Total Unrestricted Restricted funds funds 2021 2020 2020 £ £ £ 156,117 158,991 36,612 - 378 - 156,117 159,369 36,612 130,599 175,730 17,464 - (439) 439 25,518 (16,800) 19,587 19,609 8,544 8,278 45,127 (8,256) 27,865 |
Total 2020 £ 195,603 378 |
|---|---|---|
| 195,981 | ||
| 193,194 | ||
| - 2,787 16,822 |
||
| 19,609 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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PROJECT HOPE, UNITED KINGDOM
BALANCE SHEET
AS AT 29 JUNE 2021
| 2021 Notes £ Current assets Debtors 8 30,017 Cash at bank and in hand 38,574 68,591 Creditors: amounts falling due within one year 9 (23,464) Net current assets Income funds Restricted funds 12 Unrestricted funds |
2020 £ £ 972 30,282 31,254 (11,645) 45,127 27,896 17,231 45,127 |
£ 19,609 27,865 (8,256) 19,609 |
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 June 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
.............................. K Thomson Trustee
Company Registration No. 2946010
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2021
1 Accounting policies
Charity information
Project Hope, United Kingdom is a private company limited by guarantee incorporated in England and Wales. The registered office is Annexe Lorien, Chiltern Road, Amersham, Buckinghamshire, HP6 5PH.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, 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. The principal accounting policies adopted are set out below.
1.2 Going concern
The charity is reliant upon the continued support of its donors to fund its ongoing charitable work. As indicated in the trustees' report, the trustees are continuing to adjust expenditure and increase funding to ensure that the charity is able to continue as a going concern.
There had been a deficit on the unrestricted funds in the prior year however in the year to 29 June 2021 they have been replenished. This is as a result of tighter controls on spending and more income received, with gift aid claimed. The charity is able to meet its' liabilities as they fall due and the trustees' believe that the charity will be able to continue as a going concern for the next 12 months.
1.3 Charitable funds
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 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.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
1 Accounting policies
(Continued)
1.5 Resources expended
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 are allocated on the portion of the asset’s use.
All expenditure is accounted for gross, and when incurred. Grants payable are accounted for when an obligation to pay has arisen; for project grants funded by restricted income this normally means when the Charity has been advised that the corresponding expenditure has been incurred or committed. Fundraising costs represent costs incurred in raising voluntary income.
Costs of generating funds are the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.6 Cash and cash equivalents
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.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are carried at cost 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
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. 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.
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.8 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.
1.9 Retirement benefits
The Charity operates a defined contribution pension scheme and death in service scheme for its employees. Contributions are charged to the Statement of Financial Activities as they become payable.
1.10 Foreign exchange
Transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the statement of financial activities.
1.11 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2 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.
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
3 Donations and legacies
| Unrestricted Restricted funds funds £ £ Donations and gifts 102,017 839 Coronavirus job retention scheme - 29,261 Donated goods and services 24,000 - 126,017 30,100 For the year ended 29 June 2020 158,991 36,612 |
Total 2021 £ 102,856 29,261 24,000 156,117 |
Total 2020 £ 166,405 5,198 24,000 |
|---|---|---|
| 195,603 | ||
| 195,603 |
Donated goods and services
Unrestricted donated goods and services include the estimated value of office accommodation and related services provided by GSK. The charity also benefits from unpaid volunteers including trustees but no value is recognised for these.
4 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
5 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2021 Number 3 2021 £ 74,673 1,738 1,241 77,652 |
2020 Number 3 |
|---|---|---|
| 2020 £ 74,300 3,460 2,278 |
||
| 80,038 |
There were no employees whose annual remuneration was more than £60,000.
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
6 Charitable activities
| Children's Sports Arena Munsieville- South Africa £ £ Direct costs 1,022 12,127 Share of support costs (see note 7) - 110,634 Share of governance costs (see note 7) - 6,816 1,022 129,577 Analysis by fund Unrestricted funds 1,022 99,508 Restricted funds - 30,069 1,022 129,577 For the year ended 29 June 2020 Unrestricted funds 16,468 159,262 Restricted funds 3,057 14,407 19,525 173,669 |
Total 2021 £ 13,149 110,634 6,816 130,599 100,530 30,069 130,599 |
Total 2020 £ 31,864 145,021 16,309 |
|---|---|---|
| 193,194 | ||
| 175,730 17,464 |
||
| 193,194 |
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
7 Support costs
| Staff costs Travelling expenses Insurance Printing, postage and stationery Sundry expenses Subscriptions Bank charges Rent Accountancy fees Legal and professional Website and internet Travelling expenses Analysed between Charitable activities |
Support costs Governance costs £ £ 77,652 - 5,100 - 460 - 243 - 1,705 - - - 1,474 - 24,000 - - 4,800 - 1,268 - 292 - 456 110,634 6,816 110,634 6,816 |
2021 £ 77,652 5,100 460 243 1,705 - 1,474 24,000 4,800 1,268 292 456 117,450 117,450 |
2020 £ 80,038 34,982 509 258 1,185 73 3,976 24,000 4,146 337 341 11,485 |
|---|---|---|---|
| 161,330 | |||
| 161,330 |
Total resources expended includes payments to the accountants of £4,800 (2020- £4,200) for the independent examination fees.
8 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income 9 Creditors: amounts falling due within one year Notes Bank overdrafts Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2021 £ 29,663 354 30,017 2021 £ - 1,199 8,925 2,526 10,814 23,464 |
2020 £ 681 291 |
|---|---|---|
| 972 | ||
| 2020 £ 4 53 3,825 3,017 4,746 |
||
| 11,645 |
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PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2021
| 10 Financial instruments Carrying amount of financial assets Measured at cost Carrying amount of financial liabilities Measured at cost 11 Analysis of net assets between funds Unrestricted Restricted 2021 2021 £ £ Fund balances at 29 June 2021 are represented by: Current assets/ (liabilities) 17,231 27,896 17,231 27,896 |
2021 £ 29,663 22,265 Total Unrestricted Restricted 2021 2020 2020 £ £ £ 45,127 (8,256) 27,865 45,127 (8,256) 27,865 |
2020 £ 681 |
|---|---|---|
| 11,592 | ||
| Total 2020 £ 19,609 |
||
| 19,609 |
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| Restricted funds | The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: | Movement in funds Movement in funds |
Balance at Incoming Resources Transfer from Balance at Incoming Resources Balance at |
30 June 2019 resources expended unrestricted 30 June 2020 resources expended 29 June 2021 |
funds | £ £ £ £ £ £ £ £ |
Childrens sports arena 2,618 - (3,057) 439 - - - - |
You Grow, They Grow 5,660 1,220 35 - 6,915 284 - 7,199 |
Thoughtful Path Project - 30,077 (12,755) - 17,322 - (808) 16,514 |
Chesham Youth - 117 3,511 - 3,628 - - 3,628 |
Furlough - 5,198 (5,198) - - 29,261 (29,261) - |
Root and Branch - - - - - 555 - 555 |
8,278 36,612 (17,464) 439 27,865 30,100 (30,069) 27,896 |
Restricted funds are used for the following purposes: | BIG Lottery Fund Munsieville ICB/2/010424136 - To fund training courses for locals to qualify as early learning practitioners to enable education for the children of | Munsieville. | Children's sports arena - To showcase the art and sports of the children in Munsieville | You Grow, They Grow - A project to promote the growth of vegetables by children and families in Munsieville, South Africa by UK families growing their own | vegetables and donating money to enable families in Munsieville, South Africa to do the same. | Thoughtful Path Project - To develop the Thoughtful Path Project further in Munsieville, South Africa which enables its most vulnerable children to grow into healthy | productive adults. | Chesham Youth - A project to enable a group of volunteers from Chesham Church to go out to Munsieville, South Africa to aid the charitable activities in the area. | Furlough Fund- monies received under the Coronavirus Job Retention Scheme to assist with wages payments during the Covid-19 global pandemic. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12 |
PROJECT HOPE, UNITED KINGDOM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2021
13 Related party transactions
During the year, the charity received donations totalling £30,000 from Lista Makimson Cannon (2020: £70,000), one of the trustees, via Southampton Row Trust Limited trading as CAF American Donor Fund. The charity also received donations totalling £nil from Lista Makimson Cannon (2020: £67,500) which were donated individually.
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