Charity Registration No. 1039457 Company Registration No. 02946010 (England and Wales)
PROJECT HOPE, UNITED KINGDOM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 29 JUNE 2024
## ‘RickardLuckin
## PROJECT HOPE, UNITED KINGDOM
## LEGAL AND ADMINISTRATIVE INFORMATION
.
|Trustees|LM Cannon|
|---|---|
||RG Evans|
||KThomson|
||JD H Heath|
||DameA Chilcott Fawcett|
|Secretary|MsA Block-Schlesier|
|Charity number|1039457|
|Company number|02946010|
|Registered office|Concord|
||King'sAsh|
||Great Missenden|
||HP16 9NP|
|Independentexaminer|Rickard Luckin Limited|
||1st Floor|
||County House|
||100 New London Road|
||Chelmsford|
||Essex|
||CM2 ORG|
|Solicitors|Farrer& Co LLP|
||66 Lincoln's Inn Fields|
||London|
||WC2A3LH|
;
:
## PROJECT HOPE, UNITED KINGDOM
## CONTENTS
||Page|
|---|---|
|Trustees’ report|1-6|
|Independent examiner's report|7|
|Statement offinancial activities|8|
|Balance sheet|9|
|Notestothefinancialstatements|10-17|
## PROJECT HOPE, UNITED KINGDOM
## TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 29 JUNE 2024
## The trustees present this annual report and financial statements for the year ended 30 June 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts 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)" (as amended for accounting periods commencing 1 January 2019).
## The charity website is located at www.projecthopeuk.org
## Objectives and activities
The objectives of Project HOPE UK 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 considered the Charity Commission’s guidance on public benefit and are satisfied that the activities of Project Hope UK met the principles laid out in that guidance. The Charity aims to benefit the public in the communities within which it works by raising funds and donations for conducting health education, supporting critical health programmes, and pursuing long term strategies leading to improve the health status of vulnerable children.
In the period to 30 June 2024, the Directors agreed that the Charity would focus its 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.
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 in Munsieville 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. The Charity has, from time to time, provided gift in kind donations to external charitable organisations to undertake certain humanitarian activities that were pre-determined by the Board of Directors, and were in line with the strategic objectives of Project HOPE UK. Whilst this is still in place, with the focus on the programme in Munsieville, such interventions are currently not taking place.
## Achievements and performance
Project HOPE UK has continued to develop its established programme in South Africa, which is now into its 14th 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, based on strong community engagement and the support of existing services. The principal location for this work is the Munsieville towns in Gauteng Province, South Africa.
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## PROJECT HOPE, UNITED KINGDOM
## TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
In the first two years of implementing the programme, the local Project Hope team identified six key priorities that would be addressed to help transform Munsieville from a place of danger and hostility to vulnerable children, to become a sustainable and child-friendly community in which the interests of children are prioritised. These six themes are aimed at equipping the community to effect changes to negative behaviours affecting children, whilst honouring the rich and diverse cultures of the township. The six key priorities identified were developed under the framework of what we call the ‘Thoughtful Path’ are as follows:
1. Rejecting poor quality pre-school care and insisting on professional early childhood development for all infants.
2. Householders accepting responsibility for the safety of children within the home, eradicating the risk of fire, poisoning, and other home-based hazards.
3. Creating a culture of "zero-tolerance" towards child abuse, replacing acceptance of abuse with a new culture of reporting and accountability.
4. Parents and caregivers refusing to accept malnutrition in the children in their care and embracing their role as pro-active agents in food security.
5. Parents and caregivers championing health and access to health services for the children in their care.
6. Replacing dependency and a “hand-out" culture with a new belief in personal, family and community wealth creation, based on the assets of the township.
In delivering this "Thoughtful Path Programme", progress has been made towards all these priority themes. Continued support from several local South African businesses remains helpful in accelerating change. The established positive relationship with the Department of Health on a Provincial and District level has led to more services being offered, with high numbers of childhood vaccinations being achieved as one example of collaborative success.
Most of this programme is delivered at Project Hope’s Hope Park facilities — our specific Project Hope UK premises in Munsieville, South Africa. Hope Park consists of facilities which host stakeholders who will address key aspects of our identified priorities. These are specifically Early Childhood Development (ECD), child health, healthy nutrition, facilitation of local government services, and community initiatives. In expansion of these services, and in line with the organisation’s objectives, more focus is being given to the cohort of 14—18-year-olds, especially pregnant girls, and their male counterparts. It has become evident that there is an ever-increasing need for health education, family planning and skills development, also for a safe space for teenage mothers. Hope Park is providing the space for the newly established DoH initiative AYFS (Adolescent and Youth Friendly Services) in close co-operation with other existing services in Hope Park.
A summary of specific achievements aligned with the five key priorities of the ‘Thoughtful Path' programme:
1. In this reporting period the Early Childhood Development (ECD) centre in Hope Park, run by a lady from the community, has now become a well-established resource. She runs the ECD programme in Hope Park with an increasing number of children attending. The children engaged in this Project HOPE ECD programme now also have the added benefit of access to the integrated health services in Hope Park. During this past financial year, three additional female staff have been recruited from the community (which also addresses point 6 of the above priority list). We have achieved the goal of engagement with 35 regularly attending children, the capacity for effective hosting in the current facility.
Despite the Local Authority installing electricity services in parts of the informal settlement, wide areas are still without power. The shack density is very high; therefore, fires move quickly from one shack to the next, risking lives and livelihoods. With a range of simple, low- to no- cost, measures, even the poorest families can create safer homes. Our home safety initiatives range from better ventilation in the shacks, removing fire hazards from kitchens, and safer lighting methods. These measures are welcomed by the community and are easy to understand and implement. Since the informal shack settlement is a community with very high turnover of residents it is essential that these initiatives are being promoted to new arrivals. Several shack safety camp signs, including a procession through Munsieville, were initiated by the project Hope Team in Hope Park, with over 500 community members participating.
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## PROJECT HOPE, UNITED KINGDOM TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
2: Our expertise, in collaboration with community stakeholders, lies in finding individual solutions for children that fall through the net of social services and may present complex needs. This challenge includes dealing with the impact of absence of parents and extended family, or their inability to care for children in the existing family unit. Abuse or neglect may lead to children becoming severely malnourished and even dying. The absence of birth certificates after home births, and some parents having illegal immigration status, means children may become being 'stateless' with no access to health and education services.
Several childhood abuse cases continue to be reported on a weekly basis to the Project HOPE facility in Hope Park. Our growing network of local stakeholders ensures that all cases are rapidly addressed and either resolved or referred to the relevant authorities. This initiative has brought significant positive change in culture in the community in terms of reporting and helping with follow-up. The number of cases referred to Hope Park has increased significantly over this reporting period alongside a near 100% success rate of positive resolution.
With state orphanages being full to capacity, and often under-resourced social services generally under severe pressure, we work closely with the social workers at our Hope Park facility to find individual solutions for those in need. The Project Hope Team oversees care for a child from the point of reporting until they are established in a new safe situation, always with the best interest of the child in mind. Where possible, we work with immediate and extended family - although more flexible solutions are sometimes needed, such as taking these children in at Hope Park on a temporary basis until a permanent solution is found. This is being done through local community stakeholder support, their funding and co-operation. This has been our most challenging area of work due to the complexity of most situations.
3: Child and parental nutrition education has been delivered through our dedicated Hope Park Child Nutrition Unit since 2017. Educational and practical workshops are a key part of our work and have attracted support from local supermarket chains and other organisations to support us with significant gift in-kind donations. Caregivers receive food support from us when they are not able to secure it themselves, including baby and infant food. This comes with support to build vegetable gardens or accessing the local Project HOPE vegetable plots. When children become severely malnourished, additional help is provided by a Clinical Dietician which may lead to hospital referral and care.
In the Hope Park Kitchen, set up to cook for the children in ECD care, there are currently more than 400 meals prepared every day for vulnerable children from the surrounding Munsieville area and primary schools. These meals are cooked following a dietician approved menu.
4: Since February 2019, when the Department of Health started operating from one of the Project HOPE Health Units in Hope Park, parents and caregivers have built great trust to our organisation and bring their children for all childhood vaccinations, minor illness treatment, and routine check-ups. They appreciate the quality of care and proximity of the facility to the informal settlement. By June 2024 more than 30,000 vaccinations had been administered to children, most of them to under 5-year-olds. Other services included Pap smears, HIV testing and counselling, and family planning.
5: We encourage local community entrepreneurship where possible. Cultural factors such as patriarchal family structures are a competing challenge in the informal settlement. Most critical in this regard is the work with nonSouth African residents as they do not get any government support and depend on their own initiative.
Working more closely with teenagers and young people, has revealed how the need for education and skills development remains. Many of the local children continue to have shortcomings in reading, writing and basic maths on leaving high school. Our expanding Adolescent- and Youth friendly programme delivered from the newly built Youth Centre at Hope Park, funded by The Property Race Day, is aimed at addressing this challenge.
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## PROJECT HOPE, UNITED KINGDOM TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## Hope Park Children’s Sports and Performance Arena
The Project HOPE Children’s Sports and Performance Arena (part of our Hope Park facilities) serves as a key community centre for many activities and events. Children’s sports matches and games, artistic performances and drama rehearsals for young people are carried out on a regular basis. Holiday Clubs take place here twice a year, being delivered and supported by partner organisations and local churches. The arena is the only safe place for children to play in the entire informal settlement.
Our quarterly health fairs are very popular, regularly attracting more than 1,000 visitors from Munsieville. Stakeholders and government departments present their services and also deliver those feasible during the health fairs. External medical and health services come to Hope Park and set up specific health promotion day activities free of charge for children and caregivers. This brings access to all relevant services for the Munsieville community.
## Fundraising
Project HOPE UK has been sustained through the generous and committed support of several individuals and Trustees and is undertaking strenuous efforts to raise increased levels of unrestricted funding as well as specific project funding to cover vital aspects of the charity's operations in South Africa. The Trustees recognise the risks associated with operating services whilst having low levels of reserves and undertook regular Board-level discussions to ensure that all commitments were met in the short-term. Action was also taken to seek to secure necessary funding on a sustainable basis for the future. Throughout this reporting period, they continued to exercise close control of expenditure.
## Financial review
The Trustees recognise the risks associated with operating vital services to beneficiaries whilst having 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.
At the end of the year the charity held reserves of £22,159 of which £14,577 related to restricted funds. Unrestricted reserves are currently less than three months of operating costs and the trustees are looking to build the unrestricted funds of the charity to enable continued development of their charitable activities.
## Voluntary help and donations in kind
## All members of the Board gave their time freely and without charge.
In South Africa we receive support in kind from Norton Rose Fulbright Sandton, Rotary, Food and Trees for Africa, Checkers, Shoprite, Ladles of Love, The Grain Foundation, Real Life Church in Krugersdorp and AFM Noordheuwel.
## Reserves
Project HOPE UK uses its resources efficiently and effectively which is evidenced by:
1) Very low frictional costs. Of every GBP raised, at least 94% has been spent on direct project activities in South Africa. 2) Delivering what we promised. All projects commenced were completed and implemented, including those that required multiple years of implementation.
3) Putting money raised to work. Project HOPE UK puts cash to work and runs with low reserves. This has been made possible by our low overhead anda low fixed cost structure that allows us to deliver a low burden of costs, as above. A higher level of reserves can be carried at any time if required by donors.
The Trustees recognise that the income of the charity is subject to fluctuation and is committed to endeavouring to build reserves in coming years to be able to ensure services to beneficiaries are maintained.
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## PROJECT HOPE, UNITED KINGDOM
## TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 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 in South Africa.
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.
## 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 who give their time without remuneration 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;
LM Cannon
RG Evans
K Thomson
JD H Heath
Dame A Chilcott Fawcett
## Recruitment and appointment of trustees
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.
## Strategic plans for the future:
The focus of the charity over the coming year will remain to be strengthening the Thoughtful Path programme, in particular:
1. Further development of the facilities and services offered from the Hope Park Children’s Health Campus through stakeholders and external partner organisations.
7. Expanding the reach of the initiatives from the Hope Park nutrition centre, the vegetable keyhole garden project, and the vegetable farm to support food security in township households and work against childhood malnutrition.
8. Further involvement of community members, mainly parents and caregivers, to volunteer in Hope Park activities and achieve a better life for their children and families.
9. Work closely with the local clinic to increase the range of services being offered for children and caregivers in Hope Park.
10. With the completed new Youth centre, the cohort of 14-18 year olds will receive increased support from the Project Hope Team in Hope Park, in alignment with the Adolescent and Youth Friendly Services initiative by the South African Department of Health.
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## PROJECT HOPE, UNITED KINGDOM
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTI UED)
FOR THE YEAR ENDED 29 JUNE 2024
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Thea was approved by
na ofTrustees.
K Thomson
Trustee
Date: B\ li Tes |
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JG
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## PROJECT HOPE, UNITED KINGDOM
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PROJECT HOPE, UNITED KINGDOM
| report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Project Hope, United Kingdom (the charitable company) for the year ended 29 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes
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 | might state to the charity's trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, | 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 | 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).
As the trustees of charitable company 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 charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, | report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2 _ the financial statements do not accord with those records; or
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
- 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).
| 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.
Rickard Luckin Limited
Chartered Accountants 1st Floor
- County House
100 New London Road Chelmsford Essex
- CM2 ORG
## Dated: elie
a A
## PROJECT HOPE, UNITED KINGDOM
## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 29 JUNE 2024
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total||
|---|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds|||
|||2024|2024|2024|2023|2023|2023||
||Notes||£|£|£|£|£||
|Income from:|||||||||
|Donations and legacies|3|132,394|59,940|192,334|126,041|7,500|133,541||
|Investments|4|505|-|505|32|-|32||
|Total income||132,899|59,940|192,839|126,073|7,500|133,573||
|Charitable activities|5|131,824|52,863|184,687|153,694|-|153,694||
|Net income/(expenditure)||1,075|7,077|8,152|(27,621)|7,500|(20,121)||
|Transfers between||||||||,|
|funds||-|-|-|16,334|(16,334)|-||
|Net movement in|||||||||
|funds||1,075|FiOT7|8,152|(11,287)|(8,834)|(20,121)||
|Reconciliation of funds:|||||||||
|Fund balances at 30 June2023||6,507|7,500|14,007|17,794|16,334|34,128||
|Fund balances at 29 June|||||||||
|2024||7,582|14,577|22,159|6,507|7,500|14,007||
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## PROJECT HOPE, UNITED KINGDOM
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BALANCE SHEET
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AS AT 29 JUNE 2024
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2024 2023
Notes £ £ £ £
Current assets
Debtors 10 1,064 1,835
Cash at bank and in hand 35,676 23,389
36,740 25,224
Creditors: amounts falling due within 11
one year (14,581) (11,217)
Net current assets 22,159 14,007
The funds of the charity
Restricted income funds 12 14,577 7,500
Unrestricted funds 7,582 6,507
22,159 14,007
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The company is entitled to the exemption from the audit requirement contained in sectior] 477 of the Companies Act 2006, for the year ended 29 June 2023.
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.
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These financial statements have been prepared in accordance with the provisions appligable to companies subject
to the small companies regime.
ee were approved by the trustees Pai)5\:10e0S
K Thomson
Trustee
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Company registration number 02946010 (England and Wales)
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## PROJECT HOPE, UNITED KINGDOM
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024
- 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 Concord, King's Ash, Great Missenden, HP16 9NP.
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 2019). 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 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.
The trustees confirm that the charity is able to meet its liabilities as they fall due and have agreed to provide support to charity if necessary to ensure its continuation therefore 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 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.
1.4 Income 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 2024
- 1 Accounting policies
(Continued)
- 1.5 Expenditure
- 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 2024
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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|asa|liability.|
**----- End of picture text -----**
## 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.
«4D -
## PROJECT HOPE, UNITED KINGDOM
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 3 Income from donations and legacies
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||funds|funds||funds|funds||
||2024|2024|2024|2023|2023|2023|
||£|£|£|£|£|£|
|Donations and gifts|132,394|-|132,394|106,041|7,500|113,541|
|PRD (New Project)|-|59,940|59,940|-|-|-|
|Donated goods and|||||||
|services|-|-|-|20,000|-|20,000|
||132,394|59,940|192,334|126,041|7,500|133,541|
## 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 Income from investments
|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2024|2023|
|||£|£|
|Interest|receivable|505|32|
## 5
## Expenditure on charitable activities
||Youth|Munsieville|Total|Munsieville|
|---|---|---|---|---|
||CentreSouth|South Africa||South Africa|
||2024|2024|2024|2023|
||£|£|£|£|
|Direct costs|||||
|Direct costs|45,363|33,521|78,884|30,265|
|Share ofsupportand governance costs (see note 6)|||||
|Support|-|93,990|93,990|113,063|
|Governance|-|11,813|11,813|10,366|
||45,363|139,324|184,687|153,694|
|Analysis by fund|||||
|Unrestricted funds|-|131,824|131,824|153,694|
|Restricted funds|45,363|7,500|52,863|-|
||45,363|139,324|184,687|153,694|
BaP Ke ie
## PROJECT HOPE, UNITED KINGDOM
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 6 Support costs allocated to activities
|Support costs allocated to activities|||
|---|---|---|
||2024|2023|
||£|£|
|Staffcosts|78,849|78,713|
|Travelling expenses|11,084|10,114|
|Insurance|711|688|
|Printing, postage and stationery|109|509|
|Sundry expenses|738|1,231|
|Bank charges|2,499|1,808|
|Rent and related services|-|20,000|
|Governance costs|11,813|10,366|
||105,803|123,429|
|Analysed between:|||
|MunsievilleSouthAfrica|105,803|123,429|
Governance costs of £11,813 including VAT paid to the Independent Examiners include the Independent Examiners fee of £6,996 (2023: £6,600) and other fees of £3,985 (2023: £2,509).
## 7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## 8 Employees
The average monthly number of employees during the year was:
||2024|2023|
|---|---|---|
||Number|Number|
||zZ|2|
|Employment costs|2024|2023|
||£|£|
|Wages and salaries|73,214|72,941|
|Social security costs|4,549|4,686|
|Other pension costs|1,086|1,086|
||78,849|78,713|
There were no employees whose annual remuneration was more than £60,000.
BA=
## PROJECT HOPE, UNITED KINGDOM
## NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 9 Taxation
The company is a registered charity and is, therefore, exempt from taxation.
## 10 Debtors
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2023|
|Amounts|falling|due|within|one|year:|£|£|
|Other|debtors|576|1,368|
|Prepayments|and|accrued|income|488|467|
|1,064|1,835|
|Creditors:|amounts|falling|due|within|one|year|
|2024|2023|
|£|£|
|Other|taxation|and|social|security|1,067|1,165|
|Trade|creditors|1,537|-|
|Other|creditors|3,829|3,452|
|Accruals|and|deferred|income|8,148|6,600|
|14,581|TA|217|
**----- End of picture text -----**
11. Creditors: amounts falling due within one year
## 12 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|At 30|June|Incoming|Resources|Transfers|At|29|June|
|2023|resources|expended|2024|
|£|£|£|£|£|
|Van|replacement|7,500|-|(7,500)|-|-|
|Youth|Centre|-|59,940|(45,363)|-|14,577|
|7,500|59,940|(52,863)|-|14,577|
|Previous|year:|At|30|June|Incoming|Resources|Transfers|At29|June|
|2022|resources|expended|2023|
|£|£|E|£|£|
|You|Grow,|They Grow|4,364|-|-|(4,364)|-|
|Thoughtful|Path|Project|11,970|-|-|(11,970)|-|
|Van|replacement|-|7,500|-|-|7,500|
|16,334|7,500|-|(16,334)|7,500|
**----- End of picture text -----**
~45«
## PROJECT HOPE, UNITED KINGDOM
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 12 Restricted funds
## (Continued)
Restricted funds are used for the following purposes: 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. Van Replacement - To cover the costs of a replacement van. The replacement van was paid for in September 2023.
Youth centre - A project to build a youth centre in Munsieville, South Africa.
## Transfers
The trustees confirmed that, from review of the restricted funds during the year it was noted that these funds are for the general purpose of the charity, it was deemed that these are unrestricted funds and therefore transferred.
## 13 Unrestricted funds
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 30 June|Incoming|Resources|Transfers|At 29 June|
|---|---|---|---|---|---|
||2023|resources|expended||2024|
||£|£|£|£|£|
|General funds|6,507|132,899|(131,824)|-|7,582|
|Previous year:|At30 June|Incoming|Resources|Transfers|At29 June|
||2022|resources|expended||2023|
||£|£|£|£|£|
|General funds|17,794|126,073|(153,694)|16,334|6,507|
|Analysis of net assets between funds||||||
||||Unrestricted|Restricted|Total|
||||funds|funds||
||||2024|2024|2024|
||||£|£|£|
|Fund balances at29June 2024 are represented||by:||||
|Current assets/(liabilities)|||7,582|14,577|22,159|
||||7,582|14,577|22,159|
14 Analysis of net assets between funds
- 16 -
## PROJECT HOPE, UNITED KINGDOM
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024
## 14 Analysis of net assets between funds
(Continued)
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds||
||2023|2023|2023|
||£|£|£|
|Fund balances at29June 2023 are represented by:||||
|Current assets/(liabilities)|6,507|7,500|14,007|
||6,507|7,500|14,007|
## 15 Related party transactions
During the year, the charity received donations totalling £30,000 from Lista Makimson Cannon (2023: £50,000), one of the trustees, via Southampton Row Trust Limited trading as CAF American Donor Fund.
ee Wy A