Charity registration number1072038 Company registration number 03S89593 IEngland and Wales) HOPE NOW LIMITED FOR THE YEAR ENDED 31 DECEMBER 2022 HOPE NOW LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trn$teès Mr J Bames Mr S Sweeney MrAJCamm Mr M Scott Mrs J Hon Secretary Mr M Scott hlef exe¢utlvo offlcor Mr J Budgell Charity number 1072038 Company number 03589593 R•olSter•(l office Malvein Cent Malvern Road Southampton Hampshire S016 6PY Independent examiner Darnells Chartered Accountsnts Quay House Quay Road Newton Abbot Devon TQ122BU Bank¢rs Lloyd5 Bank plc 1Q.?1 High qt¢&Èt Soulhamplon Hampshife 8014 2SE CCLA Investment Management Limited COIF Charity Funds 80 Cheap51de London EC2V 6DZ Solicitors MacDonald Oates LLP Knockhundred Row Midhur51 Wesl Sussex GU29 9DQ HOPE NOW LIMITED CONTENTS Pag¢ Trustees, report Independent examinerfs ieport Statement of finanaal acbvi1Ses Balance sheet Stalem8nl of cash flows Notes lo the financial slalemenls 10-21 HOPE NOW LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees are pleased lo present their annual directors, report together with the finanaal statements of the charity for the year ended 31 December 2022 which are also prepared to mèat the requirements for a director5. report and accounts for Companies Act PUTpose5. The financial slalemenls comply with the Charities Act 2011. the Companies Act 20C6, the Memorandun and Articles of Association. and Accounting and Reporting by Gharilies.. Statement of Recomrnended Practice applicable lo charities prèparing their accounts in accordance with the Financ4al Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effectivÉ 1 January 20191. Objectives and activities To appty the chan1￿5 funds for the promotion and advancernenl of The Evangelical Ghristian Faith, both in the UK and abroad, through maknng grants lo and Supporting projects of in51ilutions with similar objects. In pur5U8nce of Ih&se objocts the charity.. Presents and disseminates the teachings of Jesus Chrfst, promoting understanding of the Evangelicat Christs'an Faith and viewpoint and fostering Evangelical spirit., E5tabli5hes information and researrh centies devoted to the study and presentation of Evangelical Christian thought and catering for the religious and educational needs of Evangeli¢al Christian Communities in the UK and abroad., Promotes. supports and organises scholarships, confereneès. seminars. study tours and similar pitsjeeis., Establishes and supports the establishment of charitable organisatson5 for voluntary service, based on evangelistic crusades and personal visitations for the promotion of the Gospel of Jesus Ghri51', Publishes and promotes books. jOLJMals. per*odicals, magazines, newspapers 8nd other literature.. Provides. endows and furnishes and fils oui buildings with all necessary (urniture and other equipment required for the above objects. The charity carries out these objects by.. Preaching in churches, schoo15, colleges. prisons, on Tadiorrv and lo other organisations to which inwlalion5 are received., Funding and equipping churches, orphanag&s. Bible Sludy cenlres., Partial funding of Kompas Park.. Funding pre-independence homes for disadvanlaged teenagers., Funding and developing foster homes for homeless, orphaned or abused children". Funding of healthcare initi'atives. The tharity has established ils grant making policy lo achieve ils objects for the public beneffit lo promote and advancè the Evangelical Christian Faith in the UK and abroad by fundraising in the UK for project5 Such as orphanages, pre-independence and foster homès, Bible Study centre5. et¢. The beneficiaries of the grant making programme are ultimately orphaned. homeless or abused children and enagers, and dlsaLlvantage(J famllle5. In additiuii Ilie bli p¥1 Uie Reserve5 poIiGy above, the Gharity's funds historically to be spent in the short term with few funds available for long term investment. Funds being retained for capital projects lo be carried out once fighting has ended in the Ukraine are currently invested in a high interest earning bank account. The property held in thc balance -hcet provideE both s placo from which thè tharty c*n op•rat• and the surplus space is rented at commercial rates. Risk fflanagement.. Critical Incident Planning has been undertaken and is rewewed annually al the Board's January Planning day. The trustees have assessed the major risk5 to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. HOPE NOW LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Plans for the future The charity plans lo continue the activities outlined above in the forthcoming years, subject to sat15factory fundraising and a resolutron lo the Russian invasion of Ukraine. When hoslililies end, assistsnce for the rebuilding of orphanages, hospitals and other buildings ￿mpatIble with the d)arity's aims will be offered. Additionally. camps will be reinslaled at Kompas Park so child￿￿ from the Cherkassy a￿a can enjoy holidays there. There wlll be continued monitoring to ensure that funds leach the intended destinations and rf ne¢es$aty assistance will be sought from the British Emba55y. The invasion has made il very difficull for the charity lo operate as previously, and has substantially hampered it's Charitable work in Ukraine. Structure. governanco and management Governing document.. The charills objects and regulation5 are regulated by the Memorandum of Association dated 29 June 1998. Under th81 memorandum the charity is constiluled as a company limited by guarantee, having no share capital. The Iruslees. who are also the directors for the purpose of company law, and who served durtng the year and up lo the date of signature of the financial statements We￿.. Mr J Bame5 Mr S Sweeney MrAJ Camrn Mr M Scott Mr5 J Hon Recruitment and 8ppoinlmenl ol trustees.. Under the requirements of the Articles of Association, tIU51ees are elected for a period of three years after which they musl be re-elected at the nexlAnnual GÈnei81 Meeting. Trustees annually review the period of Sernri￿ and the Chair and Vice Chair hold the period of offi¢e for one year only, following which the Board decide on re• election. The board of Iruslees regularly discusses the recruitment of new Iru51ee5 for their expeiience, empathy and knowledge of the charity, and lo keep the skills and composition of the Iruslee body as a whole and succession planning under review. Tfuslee induction and training: Most trustees are already familiar with the work of Ihe charity. having been encouraged lo read literature prepareu regularly by the charity and attend events throughout the year. New Iru51ees are invited and encouraged lo attend these events and are placed on a probationary period lo familiarise Ilienis¥lvg> willi Ilie Ghailty antj the conieM In whlch It operates. The induction process con51Sts ot an initial meeting with the trustees, followed by a series of Short meetings with the CEO and other executives lo di5CUSS the grant making prO￿s$ and Ihe powers and responsibilitie5 of the trustee board. Additionally copies of the moEt recent new- -Icttcr ELre di¥tribuled to all new trustee¥ along Wlth the Mernorandurn aiid Ar1iGles ¥r Association and a copy of the lalesl finanaal slalements. All trustees give their time voluntarily and receive no benefits from the charity. Any expanses reclaimed by the trustees from the charity are sel out in note 8 to the finantial slalernenl5. The trustees, usual practice of revlawSng the previws yearfs achievements against the objeetives sel for that year was undertaken in January and a nèw sel of objectives for 2022 was established maintaining Hope Nows core values and encouraging all involved at every level in a team effort for all activities. The Critical Incident Planning document was reviewed and updated with sèveral action points established or created. The Charily Commissions. guide lo Good Governance was reviewed and practi￿ benchmarked against those guidèlines. HOPE NOW LIMITED TRUSTEES. REPORT IGONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Organisatvjnal structure.. The chanty is administered by a btsard of directors who are also Iru51ees. The day to day njnning of the charity is detegaled lo a Chief Executive Officer, Mr Jonathan Budgell, who report5 to the Trustees. The trustee5 aim lo mèèt at lèast bi-monthly and met Six times In the year. Relationship with wider ne￿ork= The charity h85 Close links with local Hope Now charitie5 in Ukraine and the USA and Kompas Park, a Ukrainian non-governmental organisalion. The Chièf Executive OffI￿r 15 invited to sit on the Ukrainian board as a noTr voting member. Hope Now Limited has no executive control over the tunning of the other Hope Now charities. they share a common charitable purpose with the UK charity raising funds for projects overseen by the other Hope Now charities. Hope Now Limited takes an active role in ensuring that funds raised are used for the purposes for which they were raised in order to fulfil an expectation of due diligence on the appropriate usè of funds sent overseas. The charity has also developed link5 and hag provld8d funds to Christian charities OPeTating in Sri Lanka. In South Africa Transfom)alion Pollsmoor has previousty lak&n over the ministry, previously funded by the chanty, at Pollsrnoor Prison. Thè truslees. report was approved by the Board of Trustees. Mr J Barnes Trustee Dated.. HOPE NOW LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE NOW LIMITED I report to the trustees on my examinalion of the fin8nciaJ sialements of Hope Now ￿rnited (the chartyl for the year ended 31 December 2022. Responsibilities and basrs of report As the Iruslees ol the charity land also its directors for the purposes of company law) you are re5pon5itle for the preparats'on of the finanaal statements in accordance with the requirements of the Companies Ad 2006 Ithe 2006Acti. Having satisfied myself that the financial statements of the charty a￿ not required to be audiled under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial slalernenls carried out under 5eclion 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my Èxatninalion I have followed all the applicable Directions given by the Charity Commission under section 14515){bl of the 2011 Ael. Independent examlneff$ Statement Since the charity's gross inGome eX￿eded t250,000 your exarniner must be a rnernber of a body listed in section 145 of the 2011 ACL I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accounlanls In England and Wales, whSch 15 one of the listed bodies. I havè completed my examination. l ￿nfIrM that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charlty as required by section 386 of the 2006 Ata., the financial stslemenls do not aecord with those records,. or the financial slalerllenls do not comply with the accounting requirements of section 396 of the 21X)6 Act other than any requlrement that the accounts give a true and lair view which is not a matter considerad as part of an independent examination., or the finanaal slalemen15 have not been prepared in accordanee with the rnelhods and prin¢iple5 of the Statement of Recotnmended Practlce for acwunting and reporting by charitie5 applicable to charities preparing thèir accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in ¢Mnection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements lo be reached. r P Beard FCA FCCA Darnells Chartered Accountants Quay House Quay Road Newton Abbot Devon TQ12 2BU HOPE NOW LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Vnrestrictsd Re$tri¢tsd funds funds 2022 2022 Total Unrestricted Restricted funds funds 2021 2021 Total 2022 2021 Notss nco Donations and lega￿e$ Inveslmants 410,477 11,026 403,657 814,134 11,026 222,667 4.529 162.079 384,746 4,529 Total income 421,503 403,657 825,160 227.196 162,079 389.275 Raising funds 35,460 35,460 17.446 17,446 Charitable activitses 154,648 267,036 421,684 112.059 161,918 273.977 Total expenditLtre 190,108 267,036 457,144 129,505 161,918 291.423 Net incoming rèsources before transfers 231,395 136,621 368.016 97,691 161 97.852 Gross transfers befvleen funds 11 {1,732} 1,732 N&t Income for the yearl Net movement in funds 229.663 138.353 368.016 97,691 161 97.852 Fund balances al 1 January 2022 469,528 185.338 654,866 371,837 185,177 557,014 Fund balancès at 31 Dècember 2022 699,191 323.891 1.022,882 469.528 185.338 654.866 The stslemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activlties. The slalement of financial acb"viti8s also complies with the requirements for an Incom6 and expendii4Jre accouni under the Companies Act 2005. HOPE NOW LIMITED BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Fixed assets Tangible assets 12 183.412 184.609 Current assets Debtors Cash al bank and in hand 13 42.637 801.403 8.481 465.170 844,040 473.651 Cred5tors". amounts falling due within one year 14 14,5701 13.3941 Nel current assèts 839.470 470.257 Total assets less currènt liabilities 1,022.882 654,866 Income funds Restricted funds Unrestricted funds 15 323,691 699,191 185.338 469,528 1,022,882 654.866 Tha Company is entitted to the exemption from the audit requirement contsined in section 477 of the Cornpanies Act 2006, for the year ended 31 De￿mber 2022. Tho trustees, acknowtedge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the stale of affairs of the company as al the end of the financial year and of ils incoming rèstsurces and applittation nf Tg.%niirces. indudino its Income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requiremanls of the Companies Act 2006 ielaling lo accounts, so far as appIl￿ble lo the company. The members have not required the cornpany lo obtain an audit of its finanaal statements for the year in question in accordan￿ with section 476. These financial slalernenls have been prepared in accordance with the provisions applicable lo companles subject to the small companies regime. Tho financial statements were approved by the Trustè&s on ... Mr J Barnes Trustee Company registrdtion number 03S89593 HOPE NOW LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Nots$ Cash flow8 from operatlng a¢tivities Cash generated frorn opèrations 19 327.106 95,942 Investlng a¢livitig$ Purchase of tangible fixed assets Investment income received 11,8991 11.026 110,4941 4,529 Net cash generated fromllus•d Inl investing activities 9,127 {5.9651 Net cash used in flnanclng activities Nel Increase In cash and cash equivalents 336,233 89.977 Cash and cash equivalents at beginning of year 465,170 375.193 Cash and ¢a$h equlvalents at end of year 601,403 465,170 HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting polieies Charity Inforrnation Hope Now Limited is a private ¢ompany limited by guarantee incorporated in England and Wales. The registered office 15 Malvem Centre, Malvern Road, Soulhamplon. Hampshiie, S016 6PY. 1.1 A¢Gounting convention These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. l°FRS 102.1, "Accounting and Rèporting by Charities" the Statement of Recommended Practice ft)r chaiities applylng FRS 102. the Companies Act 2(H)6 and UK Generally Accepted Accounting Pra¢ti¢e a5 11 applies from 1 January 2019. The Charity is a Public Benefit Enlily as defined by FRS 102. The accounts are prepared in sterling, which Is the fundional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £1. The financial slalements have been prepared undei the historical cost convention. The wincipal a￿OUntIng policies adopted are sèl out below. 1.2 Going concern Al the lime of approving the accounts, the Iruslees have a ￿asonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going con￿rn basis of acc()unting in weparing thè a￿OuntS. 1.3 Charitable funds Unrestri¢ted funds are avallable for use at the discrelH)n of the trustees in furtheTance of Ihelr charitable objectives. Restricted lunds are subject lo speafic conditions by donors as to how they rnay be used. The pU￿oseS and uses ol the restricted funds are set out In the notes to the financial slatemenls. Endowment funds are subject to specific conditions by donors that the capital rnusl bo mainialned by tt)e charity. 1A Income Ineomg is rocognisèd when the charity is k9ally ¢ntilled lo it after any perfomianGe Gonditknns have been met, the amounts can be measured reliably, arKI il is probabl8 that income will be received. ¢a•h donations are reGognised on receipt. other donatioiis ale r¢bvyiii?ied urJLE the Gharty ha5 been noiifled of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised al the time of the donation. All incoming resources are rècognised On￿ the charity has entitlement to the resources, il is certain that the resource5 will be received and the monetary value of incoming resources Can be measured with sufficient reliability. Irbcome from donations and grants, including capiial grants, is iTKluded in incoming ¥esource5 when these are racèivable. except as follows.. when donors speafy th81 donations and grants given lo the charity musl be used in future accounting periods, the income is deferred until those peiiods.. and when donors impose condition5 which have to be fulfilled before the charily becomès entitled to use such income. the income is deferred and not included in incoming resources until the pre-condllions for use have been mel. 10- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policias (Continu￿) Interest receivable-. Inlèrest receivable is induded in investmènt income when it is receivable by Ihe charitable company. Rental in¢ome'. Rent is received on a monthly basis and is recognised when due. Intsngible income, ¢omprising donated servI￿s, is included in incoming resources al a valuation which is an estitnalè of the financial c051 bome by the donor where such a cost Is qu8nlifiable and measurable. No in¢orne is recognised when there Is no finan￿al cost bome by a third party. 1.S Expenditure Liabilities are recognised as résources expended a5 500n as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on the a¢cruals basis and includes irrecoverable VAT. Expenditure is allocated lo categories èither on a direct or a usage basis. Expenditure that is directly attributable lo raising funds is induded in the costs of generating funds. This indudes production of the newsletter and ministry. Expendilure attributable to rneeling the aims and objective5, including the SUPF>Ort costs. is included in charitable aclivilies. 1.6 Tangible fixèd assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreuation and any irnpairment1055es. Depreciation is ￿COgnIsed so as to write off the cost OT valuation of assets less Iheii residual values over iheir useful lives on the following bases.. Land and buildinas Fixtures. frttings & equipment None 25¢h straight lina Tho gain or los$ arising on th• disposal of an asset is dotom)in&d as tho difference bQ￿ep.n thp ¢xlp. prt)f.P.é%fl* and the Car￿ng value of the asset, and is recognised in the statement of financial activities. There ia no deprcciotion on land ond building- as, in the opinion of th& twGtaoÈ, tho rgsidual valuo such that any provision for depreciation in the pèriod and over the life of the asset is believed lo be immaterial. Furthermore, il is the charity's policy lo maintain the office5 in sut* condition that the value is not irnpaired by the pags3g@ of time. Siich pxpanAitiirp iq p.hxrgpd Ir) thE> inrnmp and expenditure account in the year in which il is commilled. Impairrnent reviews are cariied out periodically and whenever there 15 evidence Ihallhe value of a tangible asset, or class of as5els may be impaired. 1.7 Impaimient of fixèd assèts At each reporting end date. the charity reviews the Carrying amounts ol ils tangible assets to determine whether there is any indicatitsn that those assets have suffered an impairment loss. If any such indication exists, the recoveiable amount of the asset is eslim8ted in ordei to determine the extent of the impairment loss (rf any). 1.8 Cash •nd cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, oiher short-term liquid investments with original maturities of three months or lass, and bank overdrafts. Bank oveidiaft5 arè shown within boriowings in current liabilitie5. HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Icontinuedl 1.9 Financial instrumènts The ¢haiity has elected to apply the provisions of Sedion 11 'Basic Financial Instrumenls, and Section 12 'CXher Financial Instruments Issues. of FRS 102 to all of its )Inan¢ial inslrumenls. Financial instruments are recogni5ed in th8 charity's balance sheet when the charity bt3come8 patty to the contractual provisKTrns of the instrument. Financial assels and liabilities are offset, with the net amounts prèsantad in Ihe financial ststernents, when there is 8 legally enforceable right to set off the recognised amounts and Iheie is an intention lo settlè on a nel basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financi81 a55els, which include debtors and cash and bank balances, are initially measured transaetiorb pri￿ including transaction costs and ara subsequently ¢arried at amortised cost using the effe¢tive Inte￿$t method unless the ariangemenl constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Finanryal assets assified as receiv3ble within one year are not amortised. Basic financlal liabilities Basic financial liabilitie5. including craditor8 and bank loans are inf(ially recognised at transaction price unless the arrangement CQn51ilutes a financing Iransaclion, where the debt instrument is measured 81 the present value of the future payrnents discounted al a market rate of interest. Financial liabil￿e5 classified as payable within one year are not amort15ed. Debt Instruments are subsequently carried at amorti5ed cost. using the effective intere51 rale method. Trade creditors are oblig81ions lo pay for goods or Services that have been a¢quired in the ordinary course of operations from suppliers. Amounts payabl8 are classified as curtenl liabilities if payment is due within one year or less. If not. they ar@ presented as non-currenl liabilities. Trade creditors are recognised initially at transauion price and subsequeniiy measure¢J at amortised cost usbng the effective interest iale method. Derecognition of finan¢ial liabilities Finan¢ial liabilities are derecoyni5ed when the charitrfs contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entillemenl is recognised in the period in which the employee's services are received. Temiinalion benefits are Tecognised immediately as an expanse when the charity is demonslfably committed lo terminate Ihe employment of an employèe or lo provide termination benefits. 1.11 Retlrèment benefits Payments to defined contribution retirement benefrt schemes are charged as an expansè as they fall duo. 1.12 Debtors and crèditors receivable I payable within one year Debtors and creditors with no stated int6rèst rate and re￿1vable or payable within one year are recorded al transaction price. Any losses arising from impairment are recognised in exp8ndilure. 1.13 Loans and borrowings Loans and borrowngs are initially recognised at the transaction price including Iiansaction wsls. Subsequenuy, they are measured at amortised cost uslng the effective interest rale method. less impairment. It an arrangam8nt constitutes a finanee transaction il is meaSU￿d at present value. 12- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Donations and legacies Unrestricted Rèstrietèd funds funds Total Unreslricled Re51rided funds funds Total 2022 2022 2022 2021 2021 2021 Don8tions and gifts Legacie5 re￿1vable 351.747 58,730 403,657 755,404 58,730 200,952 21,715 162,079 363,031 21.715 410,477 403,657 814.134 222.667 162,079 384,746 Donatlon$ and gifts Ukrairie South Afri¢ Sri Lanka Other 345,475 2,452 55,730 345.475 2,452 55.730 351,747 129,601 2,358 30,120 129,601 2,358 30.120 200.952 351,747 200,952 351,747 403,657 755.404 200,952 162,079 363,031 Investments Unrestricted Unreslrided funds funds 2022 2021 Rental income Interest receivable 6,000 5,026 4.500 29 11.026 4,529 Raising funds Unrestrlcted Unrestricted funds funds 2022 2021 Newsletter rodu Newsletter producb.on and ministry Other fundraising costs Staff c051s 16,944 13,615 403 3,428 18.516 Ngwsletter production and ministry 35.460 17.446 13- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Raising funds Icontinuedl Total fundraising Gosts 35,460 17.446 Charitable actlvltl¢$ Charitable Charitable Expandlture Expenditure 2022 2021 Staff costs Aid box costs 18.516 21.373 3,706 39,889 3.706 Grant funding of aclivilies (see not6 6) 333,850 235.723 Share of sUPPOrt costs (see nole 71 Share of governance costs {see notè 71 43.763 4,182 31.383 3.165 421,684 273.977 Analysis by fund Unregtrict•d funds Restricted funds 154.648 267,036 112,059 161,918 421,684 213,Yll Tne ¢narity undertakes ffs charitable aclThiilies through grant making and awarded grants to a number of inslilulions and individuals in further8nce of its charitable actiwlies. Slaff GOSt¥ aiE uypvrtione¢J on the estlmated Ilme speni tyy each indiwdual during U)e year. uther cc6ts are allocated based on their nature. fundraising cos15 are deemed lo be the production of the monthly new51etter and associated costs relating lo ils dislribvlion. 14- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Grants payable 2022 2021 Grants lo instilulions: Ukraine South Africa Sri Lank8 233,785 9,749 55,225 157,941 6,903 30,120 298,759 194,964 Gr8nls lo individuals 35,091 40,759 333,850 235,723 Grants paid to institltlions in Ukraine are rnade via Hope Now (Ukrainel. Hope Now {Ukrainèl asslsts in tha distribution of monies to the cortect ￿dIvidUal$ and organisations. In South Africa. the main recipients ol grants paid to institutions ale Transformation Pollsmoor Iwho took over the Prison Ministry. funded by the charity) and 1st Care Sou¢h Africa Iwho took over the running ol Rainbow House), funded by the charity. In Sri Lanka, the recipient of the grants is Farms Lanka. 15- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Goveman¢¢ costs costs 2022 2021 Basis ol allocation Staff costs Depreciation Rates Insuran Light and heat Repairs & maintenance Post, slavery & printing Telephone and fax Motor. vehide lease and Iravelling Computer costs Hire of equipment Sundry costs Examiners fees 17.799 3,096 2,123 2,374 2.328 2.066 3.763 1,141 17,799 3,098 2,123 2,374 2,328 2.066 3,763 1.141 4,243 Time spent 1.341 Direct 2,037 Direct 2,262 Direct 1.644 Direct 1.788 Direct 3,036 0ire¢t 1.098 Direct 5,652 2.240 658 323 5.652 2.240 858 323 4,182 7,489 Dir8et 2.589 Direct 3.761 Direci 115 Direct 3.165 Govemance 4.182 43,763 4,182 47,945 34,548 Analysed befvleen Charitable acliwlies 43,763 4.182 47,945 34.548 Governance c051s inc]ude payments lo the accountsnl of£3,000 {2021.' £3,000) for examiners fees and £1,18212021.' £165 ft)r other services). Trust8•s hfone of the trust￿£ lor any porsons eonnected with them} rcocivcd Flny remuneretion during the year. and none of them were reimbursed expen5e512021- Énonel. Employee¢ The average monthly number of employaés during the year was.. 2022 Number 2021 Number Chief Executive Officer Accounts Manager Administrative Assistant Totsl 16 HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Employee8 (Continued) Employment costs 2022 2021 Wages and salaries Other pen5i0n costs 54,831 11,375 $4,831 11,377 Key management personnel include the Chief Executive. The lolal employee benefts of the char¢ly's key m8nagement personnel were £30,169 {2021'. £nonel. The services of the Chief Exeajtive throughout the previou$ period and the Accounts Manager to and including September 2021 were prowded on a voluntsry basis. Other p8nsion costs are lo a defined contribution pension scheme. There were no employees whose annual remuneration was more than £60,000. 10 Taxation As a charity, Hope Now Limited is exempt frorn lax on income and capital gains f811ing within section 505 of the Taxes Act 1988 or sèction 25S ol the Taxation of Chargeable Gains Act to the extent that these are applied lo ils chariiable objects. No tsx Charges have arisen in the tharily in the year12021.. £none}. 11 Transfers Th@ transf•rs from thp IinTP.Etrir.1g.rt fijnd tntxlling £1,732 12021 £nonel represent overspends on the restricted funds, where additional funds have been made available from the unrestricted fund lo make good any defi¢ils. Whilst these are technically amounts granted from unrestricted funds, the Iruslees want to makè il dear what level of funds were required from unreslricled fvnds to make good commitments. lthere transfers occur be￿een restricted funds, this is usually due lo income received available for more than orse purpose and would usually be required to be spent in a certain geographical area. 17- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Tangible r￿e￿ assèts Land and btslldlngs FIX￿rES, rittlngs & equlpmènt Totsl Cost At 1 January 2022 Additions Disposals 174,339 28,012 1.899 (1701 202.351 1.899 11701 At 31 December 2022 174,339 29.741 204,080 Depreciation and impairnient Al 1 January 2022 Depreciation chaiged in the year Eliminated In respect of disposals 17,742 3,096 11701 17.742 3.096 (1701 At 31 Decèmber 2022 20.668 20.668 Carrying amount At 31 December 2022 174.339 9,073 183.412 At 31 December 2021 174,339 10,270 184,609 In the opinion of the Iruslees, the tharrty's land and buildings have a current market value of approximately £275,000. 13 Debtors 2022 2021 AmL)unt$ falling due wlthln one year: Other debtors Prepayments and aeuued income 41,599 1,038 6,718 1.763 42,637 8,481 14 Crèditors- amounts falllng due wlthln one year 2022 2021 Other taxation and soaal security Trade creditOT5 Accruals and deferred income 868 552 3.150 179 3,215 4.570 3.394 18- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Restrictsd funds Th& income funds of the charfty include restricted funds comprising the followng unexpended balan￿S of donations and grants held on Iru51 for specific purposes. Details of the policy on transfers between funds is shown in note 11 to the financial statements. Movement in funds Balance at I Incoming ReSOUTces January re50ur¢es expended 2022 Transfers Balance at 31 Decèmbèr 2022 South Africa Sli Lanka Ukraine- General Ukraine- Kompas Paik Ukraine- Orphanages Ukraine- Education UkFaine- Relief of poverty Ukraine- Evangelismlchurches Ukraine- Medical Ukraine- Prisons Ukraine- Refugee relief fund 12,894 2,452 55.730 33,092 953 11,228 20,279 17,125 11,368 Ig,7491 {55,2251 133,0921 11,5501 18,7541 {21.6901 115,0011 110,5901 {1,4901 16801 1109,2151 139 {250} 5,736 255 2,034 65.860 64.446 18.502 11.541 7.591 2,470 1,437 68,334 63,035 22.469 12.319 6,101 2.870 141,135 1.843 1,080 250,350 185.338 403,657 1267.0361 1,732 323,691 South Africa.. This represents prison ministry and related projects carried out in South Africa, funds are paid b Tranaformetion Pollsmoorwho opcrate thi- aclivity. Sri Lanka- Faims Lanka.. Thi5 reprgg&Atg support to'Farms l 2nkA' An Sndapondent mission organisalion. Ukraine General Fund-. This represents donalitsns and sponsorship recetved specffically for expenditure in Ukraine, but n(rt restricted to any one individual or family. Payments are made lo Hope Now Ukraine who aid in the distribution of the funds and operate Kompas Park. Ukraine- Kompas Park.. Kompas Park is a centre funded by the charity used for summer camps, giving holiday break5 to dis8dvantsged children and widows and widowers. Ukraine- Orphanages.. This represents financial and practical help given by the charity lo orphanages in the Cherkassy Oblast. Ukraine- Education.. This represents programmes of education sptsnsored by the Ukrainian Department of Education. Ukraine- Relief of Poverty.. Thls represents grants rnade by the charity lo disadvantaged families who are struggling with poverty. Ukraine- Evangelismlchurches.. This represent5 help provided to churches, induding grants to build Sunday Schools, grants for structural repairs and the selling up and running of programrnes prornoling and advancing the Christian faith. HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 15 Restrlctèd funds (Contlnuedl Ukraine- Medical and prisons.. This represents piison ministry and ralated projects earrted out in Ukraine, together with the funding of a mobile medicalldental unil in the Kirovagrad region. Ukraine- Refugee Telief fijnd.. This represen15 aid lo support refugees in Cherkassy enabling the purchase of food, bedding. mattresses, hygiene sets and other (lay lo day necessities. 16 Analysis of net a$$ets between funds Unrestricted Restricted funds funds 2022 2022 Totsl Unreslrided Restricted funds funds 2021 2021 Total 2022 2021 Fund balances a131 December 2022 are represented by.. Tangible assets Current assetsllliabililiesl 183,412 515,779 183,412 839,470 184.609 284.919 184,609 470,257 323.691 185,338 899,191 323.691 1,022.882 469,528 185,338 654,866 At 31 December 2022 the amount of the Free Reserves 81 the charity's disposal w85 £515.779 12021 £284.919}. 17 Operating lease ¢ommitments At the reporting end dale the charity had ou151anding committnents for future minimum lease payments urKl8r non-cancèllable operating lèase5, which fall due as follows- 2022 2021 Within one year 795 Related party lrnnsaEtions During the year the trustees made donations to the charity totalling £3.511 12021: £3,015). -20- HOPE NOW LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 19 Cash generated from operations 2022 2021 Surplus for the year 368,016 97.852 Adjustments for-. Investment income recognised statement of financial aCti￿1ti￿ts Depreciation and impairment of tangible fixed assets {11,0261 3,096 14,529) 1,341 Movements in working capital- Ilncreaselldecrease in debtors Increase in creditors (34,1561 1,176 1,144 134 a$h generated from operations 327,106 95,942 20 Analysis of change5 in net fund$ The charity had no debt durfng the year. 21