## **HOPE CONSULTANTS INTERNATIONAL LTD.**
# **(A Company Limited by Guarantee)**
Company Registration Number - 3480241
Charity Registration Number - 1068356
## **FINANCIAL STATEMENTS**
**For the year ended 31 December 2021**
## **HOPE CONSULTANTS INTERNATIONAL LTD.**
# **(A Company Limited by Guarantee)**
Company Registration Number - 3480241
Charity Registration Number - 1068356
## **FINANCIAL STATEMENTS**
## **For the year ended 31 December 2021**
|**CONTENTS**||
|---|---|
||Page|
|Company Information|1|
|Directors' Report|2 - 3|
|Statement of Directors' Responsibilities|4|
|Independent Auditors' Report|5 - 7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Statement of Cash Flows|10|
|Notes to the Financial Statements|11 - 17|
Page 1
# **HOPE CONSULTANTS INTERNATIONAL LIMITED (A Company Limited by Guarantee)**
# **COMPANY INFORMATION**
## **31 December 2021**
Date of Incorporation 12 December 1997 Company Registration Number 3480241 Charity Registration Number 1068356 Chairman Z Alexander Other Directors P Bancroft A Bernardi A Dimmock F Leonhardt J Mills Company Secretary A Dimmock Registered Office 5 Robin Hood Lane Sutton Surrey SM1 2SW Principal Address PO Box 1502 High Wycombe Bucks HP11 9JA Auditors Jacob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW Principal Bankers Lloyds Bank plc Investment Advisors Clarus Wealth Management Limited
Page 2
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **DIRECTORS' REPORT**
The directors (who are trustees of the Charitable Company) present their report and audited financial statements for the year ended 31 December 2021. The financial statements have been prepared in accordance with statutory requirements, the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice (Charities SORP (FRS 102)).
## **Structure, Governance & Management**
The Company is limited by guarantee (company number 3480241), governed by a memorandum and articles of association and does not have any share capital. It is registered by the Charity Commission as charity number 1068356. Legal and administrative details are set out on page 1. Overall responsibility for the Company is in the hands of the directors. Vacancies are filled and/or additional directors appointed by seeking people with relevant skills and experience. Induction and training are provided on a personal basis as appropriate. The day to day running of the Company is committed to the International Director Team. Policy and major financial decisions are made by the directors, whilst the International Director Team is responsible for applying these decisions in respect of home staff, overseas members and associated organisations. None of the directors or senior management receive remuneration from the Company for their services.
Hope Consultants International is part of an expanding international network of over 280 member organisations and teams. The network comprises a multi-hub International Office and a number of semiautonomous organisations in different countries, including the UK. The Company provides aspects of international co-ordination and support for the network as a whole. The member organisations around the world, most of which are led and staffed by volunteers who carry out a wide range of activities, and without whose contribution the Company could not function, operate independently but with a strong moral commitment to the international network.
The company has not disclosed any information about its fundraising practices as it does not raise funds from the general public.
## **Objectives and Activities**
The Company’s objectives are to see increasing numbers living out the Christian faith for the benefit of local communities, and making the love and teachings of Jesus Christ known, particularly among those who have had no opportunity to hear. The Company’s strategies for achieving these objectives include supervision and various forms of support, including the awarding of grants for innovative projects, for associated organisations and teams serving overseas, and the establishment of associated organisations in additional countries. Grants are awarded on the basis of a rigorous application process, overseen by an independent committee, and amounted to £57,658 in 2021 (2020 £22,667).
The day-to-day activities of the Company centre on individuals: encouraging and caring for those working overseas, providing them with supervision, guidance, consulting and logistical support, in areas such as crosscultural effectiveness, strategic planning, teamwork, reflective practice, health and safety, personal and leadership development, coordination with other organisations and arranging conferences and events.
The Directors have considered the public benefit requirement for charities as described by the Charity Commission. The member organisations worldwide, supported by the Company, provide a wide range of services, often free of charge, which directly benefit the communities where they are based.
## **Achievements and Performance**
The year 2021 again saw the establishment of new teams in existing and new areas of operation, and the support of around 1,200 field members. Many of these members are involved in responding to challenges such as economic crises, natural disasters, conflicts, and more recently the impact of Covid-19, in the areas where they operate. We consider that the Company has successfully carried out its activities in accordance with its annual strategic planning process. High personal commitment of staff, striving for excellence and eagerness to make the most out of every opportunity, mark the Company’s performance.
Page 3
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **DIRECTORS' REPORT Cont’d**
The directors have updated their review of the major risks to which the Company is exposed. The principal risks and uncertainties currently facing the Company relate to instability in some of the countries where its members operate and, more recently, to the impact of the Covid-19 pandemic. To mitigate this, the Company has established a robust Risk and Crisis Management team, with experience in handling such situations, and regularly reviews the impact of the Covid-19 pandemic on the Company’s finances and operations.
## **Financial Review**
The Company recorded a surplus for the year, as shown on page 8, of £97,445, comprising £48,577 of funds restricted for purposes specified by the donors, and £48,868 of funds for use at the Company's discretion. Once again, the Covid-19 pandemic was a significant contributory factor to the result, as travel and conference opportunities were severely restricted during the year, including the biennial International Conference which was moved online. The income of the Company arises principally from allocations by associates, rental and conference income.
The net assets of the Company, as shown on page 9, amounted to £2,372,915 of which £258,277 are restricted in that they have been donated for specific purposes, and £157,213 have been designated for special purposes.
The directors have established a reserves policy whereby unrestricted funds not committed, or invested in fixed assets (‘the free reserves’), held by the Company should be at least 6 months of the annual unrestricted resources expended (excluding expenses relating to the biennial International Conference and other one-off discretionary expenditure). Based on the 2022 budget, this equates to £750,000 in general funds, and at this level the Directors feel that they would be able to continue the current activities of the Company in the event of a significant drop in allocations by other organisations and/or other income. At 31 December 2021 free reserves amounted to £1,326,998. Consequently, the directors consider that adequate resources are available to fund the Company’s activities for the foreseeable future.
During 2021 the Company changed its investment policy, under which £1,212,504 was being held in managed funds and restricted-access bank accounts at 31 December 2021 (2020 £685,862). Investment advice is obtained prior to making changes to these arrangements, which must be approved by the trustees. Given the current volatility of such funds, the value of these investments is expected to fluctuate over time.
## **Plans for Future Periods**
The Company seeks both to increase the effectiveness of its work on an ongoing basis, through its members serving overseas, and to respond to new opportunities and challenges in the countries where they are based. To facilitate this aim, the Company is making a significant and ongoing investment in training, support and oversight of those members.
The Company continues to diversify its operating structure, as a response to local and global challenges.
## **Directors and Auditors**
A list of directors during the period up to the date of this report is included on page 1.
The directors will be discussing a resolution to appoint auditors to the Company for the ensuing year.
On behalf of the Board
Andrew Dimmock, Director
............................................................................ 2022
Page 4
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **STATEMENT OF DIRECTORS' RESPONSIBILITIES**
The directors are responsible for preparing the Directors’ 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 directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing these financial statements, the directors are required to:
- Select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue its operations.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company 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 Charitable Company and hence for taking reasonable steps for the prevention of fraud and other irregularities.
The directors of the Company who held office at the date of approval of this Annual Report as set out above each confirm that:
- so far as they are aware, there is no relevant audit information (information needed by the Company’s auditors in connection with preparing this report) of which the Company’s auditors are unaware, and
- `-` they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the Company’s auditors are aware of that information.
On behalf of the Board
Andrew Dimmock, Director
.................................................................... 2022
Page 5
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HOPE CONSULTANTS INTERNATIONAL LTD**
## **Opinion**
We have audited the financial statements of Hope Consultants International Ltd (the ‘charity’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2021 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, including the directors’ report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
- the directors’ report has been prepared in accordance with applicable legal requirements.
Page 6
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HOPE CONSULTANTS INTERNATIONAL LTD Cont’d**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
## **Responsibilities of directors**
As explained more fully in the directors’ responsibilities statement, the trustees' (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to charities’ legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.
We determined that the principal risks were related to management bias in accounting estimates, presentation of separately disclosed items, management override of controls and measurement of balances and transactions with network organisations.
In response to the risks identified we designed procedures which included, but were not limited to, challenging significant accounting estimates, evaluating the internal controls, agreeing financial statement disclosures to underlying supporting documentation, reviewing trustees minutes, identifying and testing journal entries, reviewing and substantiating reconciliations with network organisations and reviewing directors’ minutes.
There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
Page 7
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HOPE CONSULTANTS INTERNATIONAL LTD Cont’d**
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.
**Richard Haffenden MA(Cantab) FCA (Senior Statutory Auditor) for and on behalf of Jacob Cavenagh & Skeet Statutory Auditor Chartered Accountants**
5 Robin Hood Lane Sutton Surrey SM1 2SW
Dated: .........................
Page 8
## **HOPE CONSULTANTS INTERNATIONAL LTD STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021**
## **Income and expenditure account**
|**Income from**
Donations
Investments
Charitable activities
Other activities
**Total income**
**Expenditure on**
Raising funds:
Investment management expenses
Charitable Activities
Counsel and support of members
Support costs
Grants & bursaries
International conference
**Total expenditure**
**Net income for the year**
Transfers between funds
**Net movement in funds**
Balances Brought Forward
**Balances Carried Forward**|Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Note
Funds
Funds
2021
Funds
Funds
2020
£
£
£
£
£
£
3
1,014,588
102,132
1,116,720
1,025,953
145,408
1,171,361
2,561
-
2,561
2,956
-
2,956
4
72,860
-
72,860
84,878
-
84,878
4
20,791
-
20,791
61,628
-
61,628
1,110,800
£
102,132
£
1,212,932
£
1,175,415
£
145,408
£
1,320,823
£
5
8,096
-
8,096
-
-
-
5
776,561
53,555
830,116
702,974
24,401
727,375
5
219,617
-
219,617
212,959
-
212,959
5
57,658
-
57,658
22,667
-
22,667
5
-
-
-
-
-
-
1,061,932
£
53,555
£
1,115,487
£
938,600
£
24,401
£
963,001
£
48,868
48,577
97,445
236,815
121,007
357,822
-
-
-
(27,600)
27,600
-
48,868
48,577
97,445
209,215
148,607
357,822
2,065,770
209,700
2,275,470
1,856,555
61,093
1,917,648
2,114,638
£
258,277
£
2,372,915
£
2,065,770
£
209,700
£
2,275,470
£|Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Note
Funds
Funds
2021
Funds
Funds
2020
£
£
£
£
£
£
3
1,014,588
102,132
1,116,720
1,025,953
145,408
1,171,361
2,561
-
2,561
2,956
-
2,956
4
72,860
-
72,860
84,878
-
84,878
4
20,791
-
20,791
61,628
-
61,628
1,110,800
£
102,132
£
1,212,932
£
1,175,415
£
145,408
£
1,320,823
£
5
8,096
-
8,096
-
-
-
5
776,561
53,555
830,116
702,974
24,401
727,375
5
219,617
-
219,617
212,959
-
212,959
5
57,658
-
57,658
22,667
-
22,667
5
-
-
-
-
-
-
1,061,932
£
53,555
£
1,115,487
£
938,600
£
24,401
£
963,001
£
48,868
48,577
97,445
236,815
121,007
357,822
-
-
-
(27,600)
27,600
-
48,868
48,577
97,445
209,215
148,607
357,822
2,065,770
209,700
2,275,470
1,856,555
61,093
1,917,648
2,114,638
£
258,277
£
2,372,915
£
2,065,770
£
209,700
£
2,275,470
£|
|---|---|---|
||3
4
4
5
5
5
5
5||
|||1,061,932
£
53,555
£
1,115,487
£
938,600
£
24,401
£
963,001
£|
|||48,868
48,577
97,445
236,815
121,007
357,822
-
-
-
(27,600)
27,600
-|
|||48,868
48,577
97,445
209,215
148,607
357,822
2,065,770
209,700
2,275,470
1,856,555
61,093
1,917,648|
|||2,114,638
£
258,277
£
2,372,915
£
2,065,770
£
209,700
£
2,275,470
£|
The notes on pages 11 to 17 form part of these financial statements.
Page 9
## **HOPE CONSULTANTS INTERNATIONAL LTD Company Registration Number - 3480241 BALANCE SHEET At 31 December 2021**
|Note
**Fixed Assets**
Tangible assets
6
Investments
7
**Current Assets**
Debtors
8
Investments - less than 1 year
Cash at bank and in hand
**Creditors**
Amounts falling due within one year
9
**Net Current Assets**
**Net Assets**
**Income Funds**
Restricted funds
10
Designated funds
11
General charitable funds
**Total Funds**|£
£
£
£
630,427
691,008
760,384
-
1,390,811
691,008
429,076
374,375
452,120
685,862
175,581
580,724
1,056,777
1,640,961
(74,673)
(56,499)
982,104
1,584,462
2,372,915
£
2,275,470
£
258,277
209,700
157,213
210,213
1,957,425
1,855,557
2,372,915
£
2,275,470
£
2021
2020|
|---|---|
||1,056,777
(74,673)|
|||
These financial statements have been prepared in accordance with provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and were approved by the Board on 2022 and signed on their behalf by:
………………………………………..
Andrew Dimmock, Director
The notes on pages 11 to 17 form part of these financial statements.
Page 10
## **HOPE CONSULTANTS INTERNATIONAL LTD STATEMENT OF CASH FLOWS For the year ended 31 December 2021**
|**Cash provided by operating activities**
Net income
Adjustments for:
Depreciation
Movement in debtors
Movement in creditors
**Cash flows from investing activities**|£
£
£
£
97,445
357,822
60,581
61,592
(54,701)
(99,779)
18,174
36,271
121,499
355,906
2021
2020|£
£
£
£
97,445
357,822
60,581
61,592
(54,701)
(99,779)
18,174
36,271
121,499
355,906
2021
2020|
|---|---|---|
||||
|Purchase of tangible fixed assets
Movement in long term investments||-
-
(760,384)
-|
|**Cash flows from financing activities**
Movement in short term investments
Repayments of borrowing
**Movement in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**||233,742
77,520
-
(32,000)
(405,143)
401,426
580,724
179,298
175,581
£
580,724
£|
|**Analysis of changes in net debt**
Cash|At
1 January
2021
580,724|Other
At
Cash flows
non-cash
31 December
changes
2021
(405,143)
-
175,581|
Page 11
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
**For the year ended 31 December 2021**
## **1. Accounting Policies**
## **Company Information**
Hope Consultants International Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW.
## **Basis of Accounting**
The financial statements have been prepared under the Companies Act 2006, and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS102)) as amended by Update Bulletin 2, Financial Reporting Standard 102 and the Charities Act 2011. The financial statements are drawn up on the historical cost basis of accounting, presented in pounds sterling rounded to the nearest pound. The Charity is a public benefit entity.
## **Income and Fund Accounting**
Income, including grants, received for a specific restricted purpose as declared by the donor is credited to a separate restricted fund. Total incoming resources credited to restricted funds are disclosed in the Statement of Financial Activities (SOFA), which also shows incoming resources in respect of unrestricted funds. Grants are recognised in the SOFA only when the conditions for receipt have been fulfilled.
Unrestricted funds are expendable at the discretion of the Directors in furtherance of the objects of the Company. Designated funds are a type of unrestricted fund, the Directors merely earmarking certain funds for a particular purpose.
Donations received are credited in the SOFA in the year to which they relate, and are deferred where the donor has specified that the income is to be expended in a future period.
Charges made to users to offset the cost of the Company’s bespoke email system are included within other income (Note 4).
## **Expenditure**
Charitable Activities comprises the expenses incurred in providing support to teams and individual members overseas.
Expenditure is accounted for on an accruals basis. Expenditure is allocated in the SOFA between restricted and unrestricted funds and is further analysed between the costs of the various activities of the Charity.
Counsel and support of members comprises the expenses incurred in providing counsel and support to teams and individual members overseas. This category includes costs in support of these Charitable objectives that have been determined on the basis of an estimate, based on staff time, of the amount attributable to each activity.
Support costs comprise the general operating costs of the Charity. These include Governance costs, which represent those costs incurred in ensuring that the Company meets its legal and statutory obligations.
Grants and bursaries are given on a discretionary basis, primarily to provide training opportunities or project funding for members of the international fellowship of which the Company is a part.
## **Fixed Assets and Depreciation**
Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows:
Page 12
# **HOPE CONSULTANTS INTERNATIONAL LTD**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **1. Accounting Policies continued**
Freehold land No amortisation Freehold buildings 50 years Building services 10 years Office fixtures, furniture and equipment 4 years Computers & related equipment (costing more than £1,800) 3 years
## **Investments**
Investments in managed funds are disclosed within fixed assets at their year-end market value, and the amount of any unrealised gains or losses in the year are included within the SOFA. Restricted-access bank deposits are shown either within fixed or current assets, depending on their maturity date.
## **Current Assets and Liabilities**
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand includes bank and cash balances which are instantly accessible. The Company also holds short term investments which are all accessible within one year.
Creditors and provisions are recognised where the Company has a present obligation arising from a past event, and are included at their settlement amount.
## **Foreign Currencies**
Transactions expressed in foreign currencies are translated into sterling and recorded at rates of exchange approximating to those ruling at the date of the transaction. Monetary assets and liabilities are translated at rates ruling at the balance sheet date. All differences are included in the SOFA.
## **Funds**
General unrestricted funds represent the funds of the Company that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Company. Funds designated for a particular purpose by the directors are also unrestricted.
Restricted funds are those subject to specific trusts, which may be declared by the donor or with their authority. The restricted funds of Hope Consultants International Limited are restricted income funds which are expendable at the discretion of the directors in furtherance of some particular aspects of the activities of the Company.
## **2. Staff Costs**
During the year the Company paid salary and pension contributions in respect of 12 employees (2020 11) (Note 5). No employee earned more than £60,000. Neither the directors nor key management personnel received any remuneration during the period. Expenses were reimbursed to 3 (2020 7) directors and their families in the year, amounting to £3,286 (2020 £8,473).
In addition to the staff costs detailed above, the Company benefits from 64 personnel who are supported by other organisations, and who volunteer their services. It is not possible to estimate the value of this benefit to the Company.
Page 13
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **3. Donations**
|**onations**||||
|---|---|---|---|
|Donations and grants
Contributions from associates
**haritable and Other Activities**
International conference
Other
Rental income from property|Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
-
102,132
102,132
146,108
1,014,588
-
1,014,588
1,025,253|||
|||1,014,588|102,132
1,116,720
1,171,361|
|||**-**
72,860|-
**-**
-
-
72,860
84,878|
|||72,860
20,791|**-**
72,860
84,878
**-**
20,791
61,445|
|Other||-|-
-
183|
|||93,651|-
93,651
146,506|
## **4. Charitable and Other Activities**
Charitable Activities comprise services provided, and income received in connection with events and services. The primary aim of all such activity carried on by the Company is to raise interest, awareness and understanding of the Company's aims and activities with charges being made to defray costs.
## **5. Expenditure - Unrestricted Funds**
|Travel, training & oversight
Property costs
Office supplies & equipment
Professional Services
Telephone and internet
Depreciation
Governance: Audit fee
Exchange gains
Investment management expenses
Other expenses
Project grants
International conference||Counsel
and support
Support
of members
costs
£
£
146,106
9,137
24,788
12,191
31,687
13,791
240,923
59,568
21,157
10,018
40,589
19,991
-
5,406
1,145
564
-
8,096
270,166
88,951|Counsel
and support
Support
of members
costs
£
£
146,106
9,137
24,788
12,191
31,687
13,791
240,923
59,568
21,157
10,018
40,589
19,991
-
5,406
1,145
564
-
8,096
270,166
88,951||Total
2021
£
155,243
36,979
45,478
300,491
31,175
60,580
5,406
1,709
8,096
359,117|Total
2020
£
192,357
36,274
43,590
192,498
7,374
61,592
5,100
(6,455)
-
383,603|
|---|---|---|---|---|---|---|
|||776,561|227,713|1,004,274
57,658
-||915,933
22,667
-|
||||||||
|||||1,061,932||938,600|
The above expenses were all paid out of unrestricted funds.
Page 14
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **5. Expenditure - Unrestricted Funds** (con)
|Staff costs are included within Other expenses, and comprise:
Salaries
Social security costs
Pension contributions||2021
£
290,487
26,481
11,480|2020
£
287,253
26,366
10,081|
|---|---|---|---|
|||328,448|323,700|
## **6. Tangible Fixed Assets**
|**6. Tangible Fixed Assets**||||||
|---|---|---|---|---|---|
|COST||Office
Furniture &
Equipment
£|Freehold
Land &
Buildings
£|Building
Services
£|Total
£|
|At 1 January 2021||63,864|633,331|515,712
1,212,907||
|Disposals||(3,684)|-|-
(3,684)||
|At 31 December 2021||60,180|633,331|515,712
1,209,223||
|DEPRECIATION
At 1 January 2021
Provision for year
Disposals||62,919
566
(3,684)|64,713
8,444
-|394,267
521,899
51,571
60,581
-
(3,684)||
|At 31 December 2021||59,801|73,157|445,838
578,796||
|NET BOOK VALUE||||||
|At 31 December 2021
At 31 December 2020||379
|560,174|69,874
630,427||
|||945
|568,618|121,445
691,008||
The depreciation provision has been charged to unrestricted funds and is shown in note 5.
## **7. Fixed Asset Investments**
|At 1 January 2021
Additions
At 31 December 2021||Listed|Cash on||
|---|---|---|---|---|
|||Investments|Deposit|Total|
|||£
-
592,782|£
-
167,602|£
-
760,384|
|||592,782|167,602
|760,384
|
Page 15
## **HOPE CONSULTANTS INTERNATIONAL LTD**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **8. Debtors**
|**8. Debtors**||||
|---|---|---|---|
|Associated organisations
Sundry debtors
Prepayments and accrued income
**9. Creditors**
Amounts falling due within one year||2021
£
290,265
5,002
133,809|2020
£
240,984
4,968
128,423|
|||429,076|374,375|
|||2021
£|2020
£|
|Other creditors||52,872|30,498|
|Accruals and deferred income||21,801|26,001|
|||74,673|56,499|
## **10. Restricted Funds**
The income funds of the Company include restricted funds comprising the following unexpended balances of donations held on trust to be applied for specific purposes:
|Project and Other Funds
Project and Other Funds|At
1 January
2021
£
209,700|Income
£
102,132|Expenditure
£
(53,555)|At
31 December
Transfers
2021
£
£
-
258,277|
|---|---|---|---|---|
||At
1 January
2020
£
61,093|Income
£
145,408|Expenditure
£
(24,401)|At
31 December
Transfers
2020
£
£
27,600
209,700|
Project and Other Funds comprise gifts received for specific projects or individual workers, that are drawn down to meet expenditure as the need arises. It is Company policy to strengthen the direct links between donor and worker/project wherever possible.
Page 16
## **HOPE CONSULTANTS INTERNATIONAL LTD**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **11. Designated Funds**
The income funds of the Company include the following designated funds that have been set aside out of unrestricted funds by the Directors for specific purposes:
||At 1
January
2021
£|At 1
January
2021
£|New
Designations
£|At
31 December
Released
2021
£
£|At
31 December
Released
2021
£
£|
|---|---|---|---|---|---|
|Emergency Reserves||170,000|36,701|(76,701)|130,000|
|General Discretionary Funds
Emergency Reserves
General Discretionary Funds||40,213|15,102|(28,102)|27,213|
|||210,213|51,803|(104,803)|157,213|
||At 1
January
2020
£
120,000
24,687||New
Designations
£
55,816
20,048|At
31 December
Released
2020
£
£
(5,816)
170,000
(4,522)
40,213||
|||144,687|75,864|(10,338)|210,213|
The Emergency Reserves comprise amounts set aside for emergency situations of teams and individual members. General Discretionary Funds comprise amounts set aside for specific activities or events.
## **12. Analysis of Net Assets between Funds**
|**12. Analysis of Net Assets between Funds**|||||
|---|---|---|---|---|
|Fund balances at 31 December 2021 are represented by:
Tangible fixed assets
Current assets
Current liabilities|Restricted
Designated
General
Funds
Funds
Funds
Total
£
£
£
£
-
-
1,390,811
1,390,811
258,277
157,213
641,287
1,056,777
-
-
(74,673)
(74,673)||||
|||258,277|157,213|1,957,425
2,372,915|
|Fund balances at 31 December 2020 are represented by:
Tangible fixed assets
Current assets
Current liabilities||-
209,700
-|-
210,213
-|691,008
691,008
1,221,048
1,640,961
(56,499)
(56,499)|
|||209,700|210,213|1,855,557
2,275,470|
Page 17
## **HOPE CONSULTANTS INTERNATIONAL LTD**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **13. Called Up Share Capital**
The Company is limited by guarantee and does not have an issued share capital. Every member of the Company undertakes to contribute to the assets of the Company (should it be wound up during membership or within one year after ceasing to be a member), for payment of debts and liabilities of the Company contracted before ceasing to be a member. The contribution is limited to a sum not exceeding £1.
## **14. Contingent Liabilities and Commitments**
The Company had no contingent liabilities at 31 December 2021 or 31 December 2020. The Company had no capital commitments at 31 December 2021 or 31 December 2020. The Company had no financial commitments under non-cancellable operating leases at 31 December 2021 or 31 December 2020.
## **15. Related parties**
Apart from reimbursement of travel expenses to directors (Note 2), the Company did not enter into any related party transactions during the year.