Company registration number: 03295669 Charity registration number: 1060409 ## **Childrens Hope Foundation** (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2022 **McAk** & Co Financial Accountants 15 First Floor Princeton Mews 167 -169 London Road Kingston Upon Thames Surrey KT2 6PT Childrens Hope Foundation Contents Refe￿nce and Administratsve Details Slralegic Report Tru51ees' Report 3104 Accounlanls. Report Slalement of Finanual ACtiv￿e$ 6t07 Balance Sheet Notes to the Financial Ststements 91018 Childrens Hope Foundation Reference and Administrative Details Charity Registration Number 1060409 Company R¢gi$tration Number 03295669 The tharity i% *thrporated ￿ United Kingdom. 15 First Floor Princeton Mews 167-169 London Roa¢J Kingston UF¥)n Thames Surrey Kf2 6PT Reg5stored oifice Principal Office 15 Palmer Plac8 London N7 8DH Independent Examiner McAJ( & Co Financkal Accountants 15 Fifst Fkmx Princeton Mews 167-169 L0ndC￿ Road Kingston Upon Thames Sutrey KT2 6PT Accountsnts McAk & Co A Kassam FMAAT FFA FCPA 15 First Fkmy Princeton Mews 167-169 London Road Q"ngslon Upon Thames SurTey KT2 6PT Page 1 Childrens Hope Foundation Strateglc Report for the Year Ended 31 March 2022 The Injstees, aro dI￿￿Or5 lor the purFoses of company I￿¥. PTesenl their strategk report for the year erKled 31 March 2022, in compliance with $414C of the Companies Act 2006. The strategic report was approved ils be￿f by. stees of the charity on Wecember 2022 and srgned on aul Jorgerwn Twstee Childrens Hope Foundation Trustees. Report The Iruslees. who are directL¥5 for the purposes of company law, present the annual report together th Ihe financial statements of the charilable company for the year ended 31 March 2022. ObJe¢tIV￿ and actlvllles Objects and alms The charity was established to provtde eq￿prnent .facilities and grants for children who were disadvantsggd by disability ,illness extrgme circumslan¢e and for the relief of poverty and advancement of education. The trustrees aim Ihis year lo raise suffiuent funds lo be able lo furril the requesis of al least 60.kn of the applications received and approved. In addib.on truslrees also aim to fulfil approved applications within thirteen weeks and to ¢ontsnue to reduce this waiting time by al least 10% over the course of the year. Notwithstaryling this. the Irustrees aim to make deusions M urgent applications and fulfil those approved within 14 days of receipt. Vrgent application is defined as those where a lerninal illness is inVo￿ed Whe￿ life expectsncy is short. Publir benefit During the year the charity has continued to support indivKluals insbtutions in three main areas,heallh and wellbeing,educalional support and wefare.The charity wll conts.nue lo focus on Ihese 8re8s of acbvities in the future. The trustees confirni that they have complied with the requirements of section 17 of Iha Charit18s Act 2011 to have due regard to the publ￿ benefit guidan￿ published by the Charity Commission for England and Wales. Grant making poIici•s Analysis of Grants made lo indiwduals Educali¢yo1 suppc¥l 203 Trustees and officers The trustees and officets serying during the sEar and since the yEar end were as follows.. Trustees= Mr Asvin Palel (resigned 16 June 2021 > Mr Paul Jorgensen Ms Nicola Jorgensen Mr Paul I￿r$ Senior Management l Leadership Mr Tcrfn Doran. C.E.O (resigned 31 JU￿ 2022} Team.. Structur•. governance and managernont Nafvre of governing do¢um•nt The charity is controlleé by its goveming documenl.a deed of trust.and constitut8$ 0 limited comparty.limited by guarantee. as defined by the companies Act 2006 Page 3 Childrens Hope Foundation Trustees. Report Recruthenf •ndappoinlmenl of trusts•s In Order to ensute a strong mix of sklls on ts tr¥)ard.new Iwstees *￿Uld bg recruited and 4)pointed by Ihe ex¢sUng tnjstees. Ind￿tIon and tralninq of trustees Th8 chair of the twstees together V*ith the Chief Executive are rnsponsible for inductim of any new trustrees. Arrangements forseth.ng key nMnayementpersonn81 remunerntlon None of th& trust8es were paKI any remuneralion or expenses by the charity the year 12019 none} Statement of trustees. r•sponsibilltles The trustees {who are also the dlrectors of CFNldrens Hope FI￿ndallOn for the purposes of company lawl are responsible for preparing the Irustees. ￿pOrt and the finarKial stetements in accordance wilh applicable law 8rKI United lQngdom Accounting Stsndard5 (Uniled Kingdom Generally Accepted Ac¢ountirg Praclicel. indudirwJ FRS 102 Yhe Finanaal Reporting Slandard op￿1¢able in UK and R¢publlc of IrelarKI'. Company law requires the Iwstees to prepare f￿a￿al statements for each financial year. Under company law the trustees must not approve the financial statemènts unless they are satisfied that Ihey give a twe and fair view of the state of affairs of the thantsbl8 company and of the Incomin9 resources and application of resou￿$. induding its income and expenditure. of the charitable comp8ny for that pericd. In prepariry ffinanoal slatements, the Iruslees are required lo.. selecl suitable accounting pc4icies and appty Ihem ¢x)nslstenty. observe the Mell￿d8 and principles in the charities SORP.. make judgements and estimates that are reasonab￿ and wudentr, slate whether applrcable acuunting standards, comprlsing FRS 102 have been folkThad. subject to any material dapartures dlsdosed and explaN)ed in the financral statements; arKI prepare the financial statements on the going con￿rn basis unless rt is inappropriate lo p￿u[r that the charitable company will continue in business. The trusteès are responsible for keeping proper act￿jn￿"rMj records that can drsd¢)se wrth reasonable accuracy at any time the financial positi.on of the charitable company and enable them lo ensure that finanoal stat&menls ts)mply with the Ccfftpanies Act 2006. They are also responslble for safe9uarding the assets of the tharitable company and hence lor taking reasonable steps for the prevention and deteth.on of fraud and other irregularibes. The trustees 319 respOn￿b￿ for the maintenance and integrity of the cortK)rale ond financial infonnation included on the charitable (x)mpanVs website. Legi￿ation goveming the preparation and dissenwn8tion of finan(xal stslements may drffer from legislation in oiher jurisdictions. The amual report W8s aptKov8d by the trustees of the d￿rity on 2Pecember 2022 and sKJned on ils behalf ty. ruslee Page 4 Financial Accountants. Report to the Trustees on the Preparation of the Unaudited Slatutory Accounts of Chlldrens Hope Foundation for the Year Ended 31 March 2022 In order to assist you lo fulfjl your dub'es under the Companies Aet 2006. we hav8 prepared for your approval the accounts of Childrens Hope Foundation for the year endecl 31 March 2022 as set out on page5 6 to 18 from the companvs accounting records and from inf0m￿t￿n and explanations you have given us. As a praclising member firm of the Institute of Financial Accountants we a￿ subject lo ils ethical and other professional requiremènts which are detailed al http.'Ilwww.ifa.org.UkJabout-u￿acIlng4n-pUbIiQ-inI￿sUmernb&r￿￿1at1Ons. This report is made sokly to the trt)ard of directors of ChI￿J￿n$ Hope Foundation. as a body, in accordance tre terms of our engagement letter. Otjr work has been undertaken solely to prepa for your appioval the finanual statements of Childrens Hope Foundab"on and stale those matters that we have agreed lo state lo the board of directors of child￿n$ H¢y Foundation. as a body. in this report. - To the fullest extent permitted by law. we do nol accept or assume responsibility to anyone other than Childrens Hope Foundation and its board of tjirectors as a body for our work or for this report. 11 is your duty lo ensure ihat Childrens Hope FoundatK)n ha5 kept adequate accounting ￿CordS and Èo piepare statutory accounts that give a true and fair view of the assets. liabilitie5. financial position and of Childrens Hope Foundation. You con&der Ihat Childrens Hope FOundat￿n is exempt from tha statutory audit requirement for the *Bar. We have not been instructed to carry out an audit or a review of Ihe accounts of ChÉldrens H4)e Foundation. For this reason. we have not verified the accuracy or cornpletene55 of the accounting records or infomiation and extyanations y)u have given to us and we do not, therefore. express any opinion on the staluw accounts. assam FMAAT FFA FCPA McAk & Co 15 First Floor Princeton Mews 167-169 London Road Kingston Upon Thames Surrey KT2 6PT ecembef 2022 Page 5 Childrens Hope Foundation ststement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlcted funds Total 2022 Total 2021 Re￿r1ded Note Income and Endowments from: Donations and legacies Other Irading activitses Investment inwme Other In￿Me 14,405 14.955 14.405 14.955 19.933 13.630 16,883 16.883 Total income 46.246 46,246 33,563 Expènditure on: Raising lunds Charitable activities Other expenditure (7.8241 {54,6361 17.8241 154.6361 16,471) 137.432) 2,277 Total expen(Jrtwe 62.471 62.471 41,626 Net expenditure 16.225 16.225 8,063 Nel movement in funds (16.225) {16.2251 {8,063} Re¢on¢lllatlon of lunds Total Iv￿lS brought fO￿ard Total frjnds carried forward 20.703 10,888 31.591 39,653 16 4.478 10.888 Unre$trf¢ted funds fund$ 15.366 Restri¢t•d funds 31.590 Total 2021 Noto Income and Endowments from: Donations and legacies Other trading ath"wb"es 10.933 13,630 19.933 13.630 Tolal income 24.563 9.000 33,563 Expenditure on: Raising ftjnds Charitable activities Other expenditu 14.952) 118,911) 2.277 {1.5191 {18.5211 16.471) 137,432) 2.277 Totsl expenditure 21,586 20,040 41,626 Net incomel{expw¥Jiture) 2.977 11,040 8.063 Net movement in fvnds 2.977 (11,040) {8,063} RO￿ncIlIatiOn of funds Totsl funds brought foiward Totsl lurKls carried forwaT(I 17.725 21,928 39.653 16 20,702 10.888 31.590 The notes on pages 9 to 18 form an integral part of these financial slatemenls. Page 6 Chlldrens Hope Foundation Statement of Financial Activities for the Year Ended 31 March 2022 Ilncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) All of the charity's acb'wties derive from continuing operati￿$ durry the above periods. Thg fvnds breakdown for 2021 is shown in note 16. The notes on pages 9 to 18 fom an integral part of these financial statements. Page 7 Childrens Hope Foundation (Registration number. 03295669} BalanGe Sheet as al 31 March 2022 2022 2021 Note Flxed assets Tangible assets 13 26 Current assets Cash at bank and in hand 14 18,678 36,097 4.541 Creditors.. Amounts falling due wlthin onè y 15 3.338 14et CU+T8nt ass•ts 15,340 31.556 Net a$$èts 15,366 31,590 Funds ofthe Charity: Restrtcted income funds Rgstricied funds 10,888 10.888 Unrestri¢ted income funds Unreslricled funds funds 4.478 20.702 Totsl lunds 16 1S,366 31.590 For the financtal year ending 31 March 2022 ihe tharity was enlided to exemption Irom audli under section 477 of the Compan*s Aet 2006 relakn.ng lo small companies. Directors. responsibiSibes-. The members have not required the charity lo obtain an audit of bts accounts for the year in quastion In ac¢x>rdancè se¢tion 476.. and The d¥ectots acknowPe(Jge their resF4Jnsiblilies for compl￿n9 with ￿ requirefflents of the Act wilh respect to 8(toun￿n9 rec(*ds the krepotalion of accounts. The financial stalements on page5 6 10 18 2¢December 2022 and signed on I apwoved by the trustees. * aulhorised for t$5ue on Iq I,.Ii ruslee The note5 on pages 9 to 18 fonn an integral part of Ihese fryi¢ial slatements. Page 8 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 1 Charfty $latu$ The charity is limited by waranlee. KK¥Npor8led in United KiThJdom. and consequenty does not have share caprtal. Each of the tmstees is liable to wntribule an amount not exceeding £Nil towards the assets of the charity in the evenl of liquK1atk)n. The address of its registered office is.. 15 First Floor Princeton Mews 167-169 London Road KiThJston Upon Thames Surrey KT2 6PT The principal place of tMJsiness is.. 15 Palmer Place London N7 80H These financial statements were a¥JI￿)riSed for issue by the trustoes on 2 December 2022. 2 Accounting policie3 Summary of Significant a¢¢ounting poli¢ies and key accounting estimates The principal accounting pdicies applied in the preparation of these finanaal slalements are set out below. These polic￿5 have been consistently applied to all Ihe years presented. unless otherwise slated. SL*ement ol ￿￿PIlanc• The financial statements have been Prepa￿ in accordance wth Accounting and Reporting by Charities.. Statement of Recommended Practs"ce {applicable to charities preparing their accounts in accordance the Financial Reporting Stsndard applicable in Ihe UK and Republic ol Ireland IFRS 1021} lissue¢J in October 20191- {Charits"es SORP IFRS 1021). the Financial Reporting Standard applicable in the UK aThJ Republic of Irel*￿ {FRS 1021 and the Companies Act 2006. Basis of preparation Childrens Hope Foundation meets the definition of a public benefft entity undèr FRS 102. Assets and liabilitlgs are inib.ally recognised at histon.cal cost or transaction value unless otherwse stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charitys abilty to continue as a going concem nor any significant areas of uncertainty that affect Ihe carrying value of assets held by the charity. Page 9 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 Exemption from pr•pariThg a cash flow slat•mwt The charity upled to earfy adopt Bulletin 1 published on 2 Fet¥uary 2016 and have therefore not included a ¢ash Ilow statement in these financial stalements. Income and endowments All income is recognised once the charity has entitlement to the income. it is probable that the income Wtll be received and the amount of the income receivable can be measured reh'ably. Expenditure All expenditure is recognised once the￿ is a legal or constructive obligation to that expenditure, it is Probable 5etUement is required and the amount can be measured reliably. Al costs are alkjcated to the applicable expenditure heading that aggregale similar costs to that category. Where ¢osts cannot be d1￿cl1Y attnbuled to party"cular headings they have been allocated on a basis consistent with the use of resources. wth central staff cos15 allocated on the basis of lime spent. and depreciab'on charges allocated on the kK)rtK•n of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising fund5 These are costs In￿rred in attrading voluntary income. the management of investments and those incurred in tradiThJ activities that raise funds. Charitable activill•s Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its benefiaaries. It indudes both ￿$t$ that can be allo￿ted 01￿Ct￿ to such acts'vilies and those costs ol an indirecl nabJre necessary to support them. Grnntprovisions Provi&ons for grants are m*Je when the intention lo make a grant has been communicated lo the recipient but there is uncertainty a￿ul either the liming of the grant or the amount of grant payable. Support costs Support costs include central function5 ar￿ have been allocated to activity cosl categories on a basis consislenl wth the use of resources, for example. allocatin9 propety costs by floor areas. or per capita. staff costs by the lime spent and other costs by their usage. Govemance costs These indude the costs attributab￿ to the chariws compliance ￿th constitutional and statLrtory requirements. including 8￿J11, strategic management and trustees meetings and reimbursed expenses. Page 10 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 Taxation The eharity is conSide￿d to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and Iherefore il meet5 the definrtion of a charitable company for UK corporation tax purposes. Aecordingty. the charity is potenb.alty exempt from taxatKsn in respect of income or capital gains received wthin categories cOVe￿d by Chapler 3 Part 11 of the C¢)fPOfation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are opplied eXdu￿VelY to CharIta￿e Purposes. Tanglble fixed a$$ets Individual fixed assets costir4J £500 or more are in￿alty recorded al cost. less any subsequent accumulat8d depr8oation and subsequent accJJmulated impaimient losses. D¢prer4ation and amortisation Depreciation is provided on tangib￿ frxed assels so as to wrTrte off the cosl or valuation. less any 8s1imat9d residual vabJe. over their expected usefrJl econom￿ lrfe as follows: Asset elass Plant and mathinery DèprÈciation mothod and rat• 25% reduang balance Ca$h and ¢ash equivalents Cash and cash equlva￿nts comprise cash on hand and call deposits, and olher short-term highly liquid investmen15 that are ￿a￿llY convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Tra¢Je creditors are obligations to pay for g(ths or sermces that have been aCqUi￿d in Ihe ordinary course of business from suppliers. Acc(xJnts payable are classified as currenl liabilities rf the charity does not have an unconditKJnal right. at the end of Ihe ￿porting pericKI. to defer settlement of the ditor for at least ￿1Ve months after the refft.ng date. If there ts an unconditional rKJhl lo defer settlernenl for at least Iwelve months after the reporting date. they are presented 85 nonvcurrent Trade creditors we recognised inilially at Ihe transaclion price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricted income fvnds are general furKls that are available for use at the trustees discretKJn in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for purposes. the use of which is restricted to that area or purpose. PwJ& 11 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 Pensions and other post retirement obligations The charity operatès a defined benefit pension scheme.Typtcally defined benefit plans define an amount of pension benefit that an employee wll receive on retirement. usually dependent on one or more factors such as age. years of seryice and compensation. The liabilty recognised in the 8alance Sheet in respect of defined benefit pen￿on plans is the present value of the defined benefit O￿lgatH)n al the repx)rting dale minus the fair value of plan assets. The defined benefit obligation is measured u5irvJ the projected unil credit method. The present value of the defined benefit obligation is determined by discounbng the estimated futufe payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the b6n8fts will be paid. and Ihat have temis to maturty approximating to thg tem)s of the related pension h'aly'lty- Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise. 3 In¢ome from donatlons and lega¢les Unrestricted funds funds G8noral Restrictsd fund$ Total fund$ Regular giving and capital donalions Total for 2022 14,405 14,405 14.405 14,405 Totsl for 2021 10.933 9,000 19.933 4 In¢¢)me from other Iradlng actlvitlès Unre$trlcted fvnds funds GènÈral Tolal funds Events inwme., Other events income 14,955 14,955 Total for 2022 14,955 14.955 Total for 2021 13.630 13.630 . S Inv•stm•nt income Unrestrlcted funds funds General Total nds Other investment income Total for 2022 Page 12 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 6 Expenditure on Taislng funds a) Costs of generating donations and legacie5 Unre$trl¢t•d fund$ fvnds General Total lunds Note t)onations Other direct costs of generaling voluntary income Total for 2022 240 380 240 380 620 620 Total costs 7 Expenditurn on charltable actlvlllos Unrestricted lunds funds General Restricted funds Total funds Not• Grant fvndw)g of aclivities Staff costs Allocated support costs Governal￿e co￿$ 1642> 36,630 5.061 13.587 8421 36.630 5.061 13.587 Total for 2022 54,636 54,636 Total for 2021 18.911 18,521 37,432 Totsl expendlture In addition lo the expenditure analysed at#)ve. there are also governance costs of £13.58712021 £10.0601 which relate directly to charitable &liv￿"e$. See note for further details. Page 13 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 8 Othgr expondlture Unrestricted funds funds G•n•ral Total funds Nots Deprecialion. amortisation and oth&r similar costs Total for 2022 Total tof 2021 Page 14 Childrens Hope Foundation Notes to the Financial Statements for the Year Ended 31 March 2022 Analysls of governance and support c¢)sts 1 Goygrnancg ¢o$t$ Unrestricted funds funds General Total funds Legal fees Other govemance costs 262 13.325 262 13.325 Total for 2022 13.587 13.587 Total for 2021 10,060 10,060 9 Net incomin￿O￿tg0in9 r•sourc•s Net out90ing resources for the year include= 2022 2021 Depreciation of fixed assets 10 Twstees remuneration and expenses No trustees. nor any persons connected wlh them. have received any remuneration from the charity during the year. No trustees have receNed any reimbursed expenses or any other benefits from Ihe charity during the year. 11 Staff costs The aggragate pa￿￿1 costs were as fdlm.. 2022 2021 Staff costs durin9 the year were: Wages and salaries Social security ￿$1S Pengon costs 42.412 20,259 911 931 1.422 43.834 22,101 No employee reeerved emoluments of more than £60.OLYJ during the ￿ar. Page 15 Childrens Hope Foundation Notes to Ihe Financial Statements for the Year Ended 31 March 2022 12 Taxation The charity is a registe￿ chanty and is Iherefore exempt frLvn taxat￿￿. 13 Tangible fixed assets Furniture and equipment Total Cgst Al 1 April 2021 Additions 648 2.331 648 2.331 At 31 March 2022 2.979 2.979 Depre¢iation At 1 April 2021 Charge for the year 2,945 2,945 At 31 March 2022 2,953 2,953 Net book value At 31 hAarch 2022 26 26 At 31 March 2021 2.297 2,297 14 Cash and ¢ash equivaknts 2022 2021 Cash al bank 18.678 36,097 15 erodltors: amounts falling dug wlthln one year 2022 2021 Trade creditors Other taxation and si>rial security Other creditors Accruals 773 1.178 1.577 1.522 1.440 3.338 4,541 Page 16 Childrens Hope Foundation Notes to the Financlal Statements for the Year Ended 31 March 2022 16 Funds Balance at 1 April 2021 Incoming r¢$our¢e$ Re$our¢es expended Balance at 31 March 2022 Unrestricted funds funds General 20.703 46.246 {62,4711 4.478 Restrlctod funds 10.888 10,888 Total funds 31.591 62,471 15.366 Balan¢• at 1 April 2020 Incoming resources Resources •xpend•d Balance at 31 March 2021 Unr•strid•d fund$ fvnd$ General 17.725 24.583 121,5861 120,0401 20.702 Restrlcted funds 21.928 9.000 10.888 Total lunds 39.653 41,626 31,590 17 Analysis of net assets b•lw••n fuTrd$ Unrestricted funds funds General Total funds at 31 March 2022 TangiiAe fixed assets Current assets Current liabilit￿5 26 18,678 3,338 18.678 3.338 Total net assets 15,366 15,366 Unrestricted funds funds Gen•ral Total funds at 31 March 2021 Tangible fixed assets Current assets Current liabilities 36.097 4.541 36.097 4,541 Total net assets 31.590 31,590 Page 17 Childrens Hope Foundation Noles to the Financial Statements for the Year Ended 31 March 2022 18 Analysis of net funds At 1 April 2021 At 31 March 2022 Cash al bank ar￿ ￿ hand 36.097 36.097 Net debt 36,097 At 1 April 2020 36.097 At 31 March 2021 Cash at bank and in hand 42.634 42,634 Net debt 42,634 42.634 P•3e 18