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 2024
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 2024 CONTENTS Page Company Information Directors, Report Statement of Directors, Responsibilities Independent Auditor's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows 10 Notes to the Financial Statements
Page 1 HOPE CONSULTANTS INTERNATIONAL LIMITED (A Company Limited by Guarantee) COMPANY INFORMATION 31 December 2024 Date of Incorporation 12 December 1997 Company Registration Number 3480241 Charity Registration Number 1068356 Chair Y Etienne Other Directors P Bancroft A Dimmock E Hernandez F Leonhardt T Munday M Smith (resigned 23 July 2024) Company Secretary N Harrison (appointed 14 January 2025) C Harris (resigned 14 January 2025) Registered Office 5 Robin Hood Lane Sutton Surrey SM1 2SW Principal Address PO Box 1502 High Wycombe Bucks HP119JA Auditors Xeinadin Audit Limited Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM12SW 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 2024. 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 andlor 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 network 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 300 member organisations and teams. The network comprises a multi-hub International Office and a number of autonomous 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 comrnunities, 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 support for network organisations and teams serving overseas, and the establishment of network organisations in additional countries. Grants are awarded for innovative projects on the basis of a rigorous application process, and amounted to £0 in 2024 {2023 £8,197). 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 cross- cultural 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 2024 again saw the establishment of new teams in existing and new areas of operation, and the support of more than 1,400 field members. Many of these members are involved in responding to challenges such as economic crises, natural disasters, conflicts in the areas where they operate. We consider that the Company has successfully carried out its activities in accordance with goals set during the 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 16 exposed. The principal risks and uncertainties currently facing the Compqny relate to instability in some of the countries where Its members operate. To mltigate this, thp Company has established a robust Security and Crisis Management team, with experience In handlin9 sucb situations. Financlal Revlew The Company recorded a surplus for thg year, 8$ shown on page 8, of £83,203, comprising a surplus of £52,348 of funds restricied for purposes s ecified by the donors, and a surplus of £30,855 of funds for use at the Company's discretion. The incomo of he Company arises principally from allocations by organisations in the network, conference income, and Gonlributions to restricted funds. The net •sset8 of the Company, as Shown on page 9, amounted to £1,601,415 of which £419,202 are restricted in that they have bean donated for specific purposes, and £151,027 havo been de8ignated for special purposes. The directors have established a reserves pollcy whereby unrestricted funds not commltted, or invested in fixed asset$ {'the free reserves,), held by the Conipany $hould be at beeen 3 - 6 months of the annual unrestricted resources expended (excluding expenses relating to the biennial International Conference and other one-off dlscretionory expenditure). Based on Ihe 2025 budget, this equates to £325,000 - 650,000, and at this level the Diroctors feel that they would be able to continue the current activities of the Company in the unlikely event of a significant drop in allocations tsy other organis9tions andlor other income. At 31 December 2024 free reserves amounted to £494,611. During 2021 the Company changed it8 investment policy, such that, based on professional investment advice, surplus fund$ were placEd in managod funds and restricted-access bank accounts, At 31 December 2024 these funds amounted to £423,958. The dlreclors are aware that, given the volatility of such funds, their value will fluctU8te over time and during 2024, an unrealised gain of £27,124 has been recorded. Plans for Future Perlod8 The Company seeks both to increase the effectiveness of its work on an ongoing basis, through its members serving overseas, and to respond to n¢w opportunities and challenges in the countries where they are based. To facilitate Ihis aim, the Company is making a significant and ongoing investment in training, support and oversight of those members, Directors, Key Mana9ement Per•onnel, and Auditors A list of directors during the period up to the date of this report is included on page 1. The International Director Team includes Andrew Dimmock, Tere6a Don9 and Andres Duncan, The director8, report wag prepared in eccordance with the special provisions relating to Small Companies. On alf of the Board immock, irector , 2025
Page 4 HOPE CONSULTANTS INTERNATIONAL LTD STATEMENT OF PIRECTORS. RESPONSIBILITIES The direclors are re8ponsible for preparing the Diroctor$' Report and the financial statements in accordan with applicable law and United KiDgdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the direclors to prepare flnancial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Compgny and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for th?t period. In preparing these financial statements, the directors are required to.. Seleot suitable accounting poli¢ies and apply them consistently. observe the methods and prinGiplas in the Charities SORP., make judgemenls and estimgtes that are reasonable and prudent., stgte whether applicable UK Accounting Standards have been followed, subject to any material dapartures disclosed and exploined in the financial statemenls; prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue Its operations. The director8 are responsible for keeplng proper ac¢ounting records which dis¢108e with reasonable accuracy at any time the financial p061tion of the Charitable Company and enable them to ensure thot the financial statemenls aomply with the Companies Act 2006. They are also respon$ible for safe9uarding the assets of the Charitable Company and hence for taking reasonable steps for th8 prevention of fraud and other irregularitle$. The directors of the Company who held office at the date of approval of tbis Annual R¢port 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 preppring this report) of which the Company's auditors are unaware, and they have taken all the steps thgt they oughl to have taken as diroctors in order to make themselves aware of any relevant audlt information and to establish that the Company's auditors are aware of that information. On behalf of the Board Andr immock, Director 1...,.....Q.U..q..,.,.,.. 2025
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'l for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial slalements, including a summary of Significant accounting policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Slandard 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 stale of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended., have been properSy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards are further described in the Auditor's responsibilities for the audit of the financial stalemenls 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 appropriale to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial slalemenls, 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 perfomied, 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 Ihe relevant sections of this report. Other Informatlon The other information comprises the information included in the annual report, including the directors, report, other Ihan the financial statements and our auditor's report thereon. The directors are responsible for the other information conlained 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 8xpress any fom of assurance conclusion thereon. Our responsibility is to read the other infomation 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 otheN4ise appears to be materially rnisstaled. 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 oflhis other information, we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companles 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 whlch we are requlred to report by exception In the light of the knowledge and understanding ofthe 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 retums 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 retums., 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 lake advantage of the Small companies exemptions in preparing ihe directors, report and from the requiremenl to prepare a strategic report. Responslbllllles of dlrectors As explained more fully in the directors, responsibilitie5 Stalemenl, the trustees, (who are also the directors of the charitable company for Ihe 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 Ihat are free from material misstatement, wh8lher 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 relaled to going concern and using ihe 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. Audltor's responslbllltles for the audlt of the flnanclal 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 lo 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 conducled in accordance with ISAS {UKI will always detect a material misslalement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in Ihe aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. 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 lo 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 thal 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 stalements 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 estimales, presentation of separately disclosed items, management override of controls and measuremenl of balances and transactions with neOrk 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, identifying and testing journal entries, reviewing and substantiating reconciliations with network organisations and reviewing directors, minules. 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'.lkn.frc.org.uklauditorsresponsibilities. 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 lo 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 Ihis report, or for Ihe opinions we have formed. Richard Haffenden MAICantabl FCA (Senlor Statutory Auditor) for and on behalf of Xelnadln Audlt Llmlted Statutory Audltor Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM12SW Dated.. I*.....A4(%f
Page 8 HOPE CONSULTANTS INTERNATIONAL LTD STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2024 Income and èxpenditure account Unrestricted Fund Restricted Tolal Lknrestricted Restricted Fund Total 2023 Income from Donabons 1,282,459 339,280 1,621,739 1,085,139 451,277 1.536.416 In%estnEnts 4,490 4,490 3,907 3,907 Charitable activities 84,905 84,905 289.274 8.588 297,862 Oiher a¢tiMties 115 115 131 131 Total incon £ 1 371969 £ 339280 £1711249 £1 378 451 £459,865 £1838 316 Expèndlture on Raising funds.. Instent manageEnt eynses charitab Actimb'es 5,924 5,924 6,173 6,173 Counsel and support of nprtjers 1,094,827 286,932 1.381,759 1,057,732 385,274 1,443,006 Support costs 267.487 267,487 278.931 278,931 Grants & bursaries 8,197 8,197 Internab'onal conference 189,529 189.529 Total oxpenditure £ 1,368238 £ 286932 £1655170 £1 540 562 £385 274 £1925 836 Net IncoTh before Investmont loss 3,731 52,348 56,079 (162,111) 74,591 (87,519) Net gain on inve$tn*nts Not incomè for the year Transfers betrRen fvnds 27.124 36.319 30.855 52.348 83,203 1125,792) 74,591 {51,201) 2,022 2,022 Not movem•nt in funds 30,855 52,348 83,203 (127,814) 76,613 151.201) BaLgnces Brought Forward 1 151,358 1 518212 1279 172 290 241 1.569,413 Balances Carrled Forward £ 1 182213 £ 419202 £1601415 £1 151 358 £366 854 £1518 212 The notes on pages 11 to 17 form part of these financial slatewents.
Paje 9 HOPE CONSULTANTS INTERNATIONAL LTD Company Registration Number- 3480241 BALANCE SHEET At 31 December 2024 2024 2023 knte Flxed Assets TaryJib assets 536,575 548,929 InInEnts 423,958 402,758 960,533 951,687 Current Assets Debtors 329,S80 562,388 Innts - less than 1 year 66,156 Cash at bank and in hand 383311 712,891 751,727 Credltors Amunts falling due within one year 72,CK)9 185,202 Net Current Assets 640,882 566,525 Net Assets £ 1601415 £1518212 Income Funds Restricted funds 10 419,202 366,854 Designated funds General Charitab funds 11 151,027 253,4 1031 186 Total Funds £ 1,601,415 £ 1,518,212 The general fund include a fair value reserbp of £27.233 (204'.£6.849). These financial staterrEnts ha been wepared in aCCcdance viith provisions applicable to corrpanies subject to the snBII Copanies, reginE wthin Part 15 of the Corry)anies Act 2006 and ere approved by Ihe Board on 24 July 2025 and signed on their half by: Andr Inyiyxk, Director The mtes on pages 11 to 17 form part of Ihese financial statements.
Page 10 HOPE CONSULTANTS INTERNATIONAL LTD STATEMENT OF CASH FLOWS For the year ended 31 December 2024 2024 202 Ca8h provlded by operating activities t Inco 83,203 (51,201) Adjusb7Ents for.. Gain on InStEnts {27,124) {36,3191 29,586 Depreciats'on moEnt in debtors 12,354 232,808 (207,635) MovewEnt in creditors 113 193 188,048 (214,294) Cash flows from investlng actNitlo8 Purchase of investrrEnts 1454,504) 465,393 Disposal of inslments Increase in cash held as inVeStrnt 156,173 {4,965) Cash flows from financlng activltles MoverrEnt in short term InStntS 66,156 102,589 Repaynnts of borrowng Movement in cash and cash equ5valents In the year 260,128 44,468 Cash and cash equirdlents at the beginning of the year 123,183 78,715 Cash and cash equivalents at the end of the year £ 383,311 £ 123,183 Anatysis of changes in net debt At Cxher At 1 January Cash flows non-cash 31 December changes 2024 Cash 123,183 260,128 383,311
Page 11 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 1. Accounting Policies Company Information Hope Consultants International Ltd is a private charitable company limited by guarantee incorporated in England and Wales. The registered office is 5 Robin Hood Lane, Sutton, Surrey, SM12SW. 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, as modified for the revaluation of investments, presented in pounds sterling rounded to the nearest pound. The Charity is a pub5ic 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 DireGtors 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). Expendlture 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 vaSue over their estimated useful lives as follows:
Page 12 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 1. Accounting Policies continued Freehold land Freehold buildings Building services Office fixtures, furniture and eqLJipment Computers & related equipment (costing more than £1,800) No amortisation 50 years 10 years 4 years 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. Stsff Costs During the year the Company paid salary and pension contributions in respect of 14 employees (2023 13) (Note 5). No employee earned more than £60,000. Neither the directors nor key management personnel received any remuneration during the period. Travel expenses were reimbursed to 7 (2023 7) directors and their families in the year, amounting to £19,221 (2023 £6,463). None of these reimbursements related to their activity as directors. In addition to the staff Costs detailed above, the Company benefits from 106 personnel who are supported by other network organisations, and who volunteertheir 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 2024 3. Donations Unrestricted Funds Restricted Funds Total 2024 Total 2023 Donations and grants Contributions from ass¢xiates 339,280 339,280 1,282,459 453,840 1,082,576 1,282 459 1282,459 339 280 1,621739 1,536,416 4. Charitable and Other Activities International conference Cxher 204,682 93,180 297,862 120 84,905 84,905 110 84,905 110 Rental incorrÉ from propety Other 85,020 85,020 297,993 Charitable Activities comprise services prowided, and incorre recei in connection with e*nts and seNces. The primary aim of als such activity carried on by the Corry)any is to raise interest, aarenesS and understanding of the Company's airrts and actii7ts.es th charges being made to defray costs. S. Expenditure Counsel and support of nEmbers Support Total 2024 Total 2023 Trae1, training & oversight Property costs Office supplies & equipment Professional Sermces Telephone and internet Depreciation &)Ernance.. Audit fee Exchange losses Cxher e>penses 346,019 3,844 48,685 310,794 32,771 1,893 21,601 73,013 2,955 4,077 6,200 8,184 116,793 378,790 5,737 70,286 383,807 9,299 12,355 6,200 24,800 757,972 418,053 39,269 40.935 341,825 8,142 29,585 6,006 10,980 442,511 8,278 16,616 1,381,759 267,487 1,649,246 1,337,306 Project grants Investment managerrent e4)enses Internal'onal conference 8,197 6,173 189,529 5,924 1,655,170 1541,204
Page 14 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 5. Expenditure Unrestricted Funds (con) 2024 2023 Staff costs are included wthin Cther e¥)enses, and comprise: Salaries Social security costs Pension contributions 375,835 35,654 370,307 34,784 15,306 420,397 426,493 6. Tangible Fixed Assets Office Furniture & nn Freehold Land & Buildin Building ervices Total COST At 1 January 2024 Addib'ons Disposals At 31 Decerrt)er 2024 68,469 633,331 515,712 1,217,512 5,564 5.564 62,905 633 331 515712 1,211,948 DEPRECIATION At 1 January 2024 Provision for year Disposals At 31 Decenl)er 2024 63,342 3,393 5,564 90,046 515,195 517 668,583 12,354 5,564 515 712 675 373 NET BOOK VALUE At 31 December 2024 536 575 At 31 December 2023 543 284 517 548,929 The depreci'on provision has been charged to unrestricted funds and is Sho in nots 5. 7. Fixed Asset Investments - managed funds Listed InstrInts Cash Total At 1 January 2024 Additions Disposals InStEnt gains InveslnEnt ManagerrEnt Expenses At 31 December 2024 402,758 454,504 (465,393) 27,124 402,758 (454,504) 465.393 27,124 5,924 423,958 5,924 4,965 418,993 The historical cost of inSInEnts is £396,725 (£395,909).
Page 15 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 8. Debtors 2024 2023 work organisab'ons Sundry debtors Prepayrrents and accrued incon 225,232 33,242 71,106 329.580 357.686 23,312 181,390 562,388 9. Creditors 2024 Amunts falling due within one year Cther creditors Accruals and deferred incoffe 41,013 30,996 157.070 28,132 185 202 10. Restricted Funds The incorre funds of the Company include restricted funds coffprising the follwng uneypended balance5 of donations and other contributs'ons held on trust to be applied for specific purposes.. At 1 January 2024 At 31 December 2024 Inco en Tr nsf Project and Other Funds 339 280 286 932 419 202 At At 31 December 023 1 January 2023 Income enditure Transfer Project and Other Funds 290 241 385 274 Project and Other Funds comprise gifts received for specific projects or indildual w)rkers, that are drawn down to nEet eypenditure as the need arises. It is Company policy to strengthen the direct links ben donor and rker/prOjeCt vknerever possible.
Page 16 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 11. Designated Funds The incorre funds of the Company include the following designated funds that ha been set aside out of unrestricted funds by the Directors for specific purposes.. At1 January 2024 At 31 Decert)er 2024 New nats'ons Desi Released ErgencY Rese neral Discretionary Funds 210,000 {101,593) 870 102,463 108,407 42,620 151,027 253,490 At1 January 2023 Al 31 December 2023 New nab'ons Desi Released Emergency Reseffts General Discrebonary Funds 130,000 35,213 165,213 120, 399 15,153 135 553 (40,399) 210.000 43,490 253,490 The EffErgency Resers conN)rise arrounts set aside for eergencY situations of teanB and indimdual Mbers. General Discrets'onary Funds conprise aL)Unts set aside for specific acb'mtses or ents. 12. Analysis of Net Assets between Funds Restricted Funds Designated Funds neral Funds Total Fund balances at 31 DecenRr 2024 are represented by.. Tangible fixed assets InvesttrEnts Current assets Current liabilities 536,575 423,958 142,662 72,009 1,031,186 536,575 423,958 712,891 72,009 1,601,415 419,202 151,027 419,202 151,027 Fund balances at 31 December 2023 are represented by.. Tangib fi1 assets InvestrrEnts Current assets Current liabilities 548,929 402,758 131,383 185,202 548,929 402,758 751,727 185,202 366,854 253,490 366,854 253,490 897,868 1,518,212
Page 17 HOPE CONSULTANTS INTERNATIONAL LTD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 13. Called Up Share Capital The Company is I1ted by guarantee and does not have an issued share capital. Every rrember of the Company undertakes to contribute to the assets of the Company (should it be wound up during embership or wthin one year after ceasing to be a Ernber), for paynEnt of debts and liabilits'es of the Company contracted before ceasing to be a nEmber. The contribub'on is limited to a sum not exceeding £1. 14. Contingent Liabilities and Commitments The Company had no contingent liabilib'es at 31 December 2024 or 31 December 2023. The Company had no capital commiknEnts at 31 December 2024 or 31 December 2023. The Company had no financial corrynltrnts under non-Cancellab operab'ng leases at 31 Decerrt)er 2024 or 31 December 2023. 15. Related parties Apart from reimburserrEnt of travel expenses to directors (Note 2), the Coryany did not enter into any related party transact'ons during the year.