2022-06-30-accounts - Weseehope

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REFERENCE Al'1D ADiYIINISTRATIVE	INFOR/EIATICN
TRUSTEES' ANNUAL REPORT
WHO WE ARE		P.2
WHAT WE DO		P.2
HOW WE DO IT		P.8
FUTURE PLANS		P.9
WHAT WE HAVE ACHIEVED IN 2021/22		P.10
HOW WE RAISE MONEY		P.14
REVIEW OF 2021/22 FINANCIAL	POSITION AND FUNDRAISING ACTIVITIES	P. 15
STRUCTURE, GOVERNANCE &	MANAGEMENT	P.17
INDEPENDENT AUDITORS' REPORT		P. 20
STATEMENT GF FINANCIAL ACTIVITIES
STATEMENT OF FINANCIAL POSITION		P. 25
STATEMENT OF CASH Fl OWS
NOTES TQ THE FINANCIAl STATEMENTS		P. 27

CHAR!	i Y NUMBER.	1079385
COMPANY	NUMBER:	03926278
TRUSTEES:		Mr A Mills —Chair
		Mr M Adams (resigned				and	re-elected 11'"October		2021)
		Ms C Chapman
		Mr A Gosling
		Mrs R Madeiros-Mhende
		Mr P McQuade	MBE
		Mr P Wall MBE (resigned and re-elected 11'"October 2021) Mrs W Wall MBE (resigned and re-elected 11'"October 2021)
COMPANY	SECRETARY:	Mrs C Kennedy
PRINCIPAL	AND
REGISTERED OFFICE;		Unit 123,Edinburgh			House
		170 Kennington	Lane
		London
		SE115DP
AUDITORS:		Hawsons Chartered			Accountants			and Registered	Auditors
		Jubilee House
		32 Duncan Close
		Moulton Park
		Northampton
		NN3 6WL
BANKERS:		The Co-operative		Bank
		1 Balloon Street
		Manchester
		M60 4EP
SOLICITORSi'		Clifford Chance
		10Upper Bank	Street
		London
		E145JJ

ANPPCAN	MPC Blantyre		Cheka Sana		ACET Gulu	SAZimbabwe
CDN Nakuru	MPC Nkhoma	[	FANISI	i	ACET Mbale	Simukai
Undugu			ZACA		Oasis Mbale
				.	Oasis Pader
					RIDE
					SA Uganda

VIJESEEHOPE	REPORT OF THE TRUSTEES OF WESEEHOPE FOR THE YEAR ENDED 30™JUNE 2022	REPORT OF THE TRUSTEES OF WESEEHOPE FOR THE YEAR ENDED 30™JUNE 2022		'i i	I r,
					I'
				'N	53
				HOPE
Loss ofkey	staff	I Country managers knowledge and responsibilities shared
		Programme knowledge and data shared and documented		in
		UK and Africa
		Fundraising and key relationship responsibilities shared
		Systems and strategies documented
Fundraising		Clear fundraising strategy and income goals developed
		Ambassador Programme strengthened
		Dedicated channel-focused fundraising staff approach	taken
		. Income pipeline diversified and supporter base increased
		Capacity and supporter engagement experience added	to
		team
Dependency	on major	: Major dependencies identified with sensitivity analysis
income donors		Adequate reserves policy implemented
		Diversification and broader supporter base included in
		fundraising strategy
Foreign currency		Consider forward contracts for payments to in-country	partners
		' and consultant expenses
International fundraising	offices	Licencing and Service Level Agreement (SLA) contracts ' place		in
		Formal legal registration process followed
		Formal reporting in place to ensure that fundraising objectives
		are in line with the UK
Reputational	risk in	Cloud-based file storage system, CRM database and
UK		accounting package with individual password protected
		access in place
		External support in place for IT issues, upgrades and
		cybersecurity
		Regular backups of data on all plafforms scheduled to
		mitigate data loss
		Regular briefings to team on fraud awareness occurring
Reputational Africa	risk in	Live financial audits carried out where COVID restrictions ' Clear guidelines, documentation and receipts process in		allow place
		Separate dedicated bank accounts required for WeSeeHope
		funds
		Training and technical advice provided for in-Country partners
Safeguarding		Safeguarding, child protectioil and whistleblowing policies
		' reviewed and in place
		Culture of recognising risk encouraged
		Safeguarding addressed during monitoring visits
Travel and health		Risk assessments, detailed planning and briefing for all trips
		Foreign Office and in-country partner guidance followed ' Waiver form in place for all travellers
		Travel, health and life insurance in place for employees
		Adherence to vaccination protocols required

			Unrestncted	Restricted	Total	Tots!
			Funds	Funds	Funds	Funds
		Note		f	2022 f	2021 f
Income
Donations and	legacies	3	893,Z97	41,046	934,343	718,271
Invesbnent income		4	12,445		12,445	15,880
Total income			905,742	41,046	946,788	734,151
Expenditure
Casts of raising	funds	6	338,476		338,476	370,983
Expenditure on	chantable activities	7	846,347	63,023	909,370	790.745
Total expentfiture			1 184823	63,023	1247$46	1 161,728
(Loss)!gain on investm entassets			(101,112)		(101,112)	189,647
Net expenditure	for the year		~300)Rl	~2)077	~402170)	~237030)
Reconciliation	offunds
Total funds brought forward			1,056,955	26,063	1,083,018	1,320,948
Total funds cerned forward			67676Z	4,086	680,848	1,083,018

					2022	2rgi
				Note	6	9
Fixed assets
Tangible assets				10	1,530	3,879
Investments				11	610,210	1,006,636
					611,740	1,010,515
Current assets
Debtors					27,646	41,090
Cash at bank	and	in	hand		71,619	78,334
					99,265	119,424
Liabilities
Creditors: Amounts			falling due within	13	(30,157)	(46,921)
one year
Net current	assets				69,108	72.503
Net assets					680,848	1,083,018
The funds ofthe		charity
Restricted income		funds		14	4,086	26,063
Unrestricted	income		funds	15	676,762	1,056,955
Total charity	funds			15	680,848	1,083,018

			2022	2021
		Note	E	E
Net cash used in operating activiTies		16	( 306,899)	( 382.408)
Cash flow from invesbng acfivigies
Purchase oftangible assets		10	(780)
Proceeds from disposal oftangible assets			930
Purchase of fixed asset investments		11	(62,758)	(4&3,848)
Proceeds from disposal offixed asset investments		11	369,365	406,193
Net cash movement in investments		11	(11,294)	301,636
Interest received			34	12
Dividends received			12.647	15,742
Investment management fees paid			(7,960)	(9,723)
Net cash provided by invesbng activities			300,184	230,012
Net decrease in cash and cash equivaients			(6,715)	(152,396)
Cash and cash equivalents at the beginning	ofthe year		78,334	230.730
Cash and cash equivalents at the end of	the year		71,619	78,334
Cash and cash equivalents consi sin of:
Cash at bank and in hand			71,619	78,334

				202'I
Gross incoming resources			946,788	734,151
Charitable activities			(909,370)	(790,745)
Cost of raising funds			(338,476)	(370,983)
(Losses) Igains on	investment	assets	(101,112)	189,647
Net outgoing resources			(402,170)	(237,930)
Total funds brought	forward		1,083,018	1,320,948
Total funds carried	forward		680,848	1,083,018
Represented by:
Restricted income funds			4,086	26,063
Unrestricted income	funds		676,762	1,056,955
			680,848	1,083,018

		2022	2021
		E	E
Unrestricted
Individuals		491,835	371,639
Corporate donors		373,984	226,652
Community	groups	4,478	750
Trusts and Foundations		23000	73000
		893,297	672,041
Restricted
Individuals		8,428	8,356
Corporate donors		8,740	11,778
Community	groups		498
Trusts and Foundations		23878	25598
		41,046	46,230

				202 I
Listed	and unlisted	investments	12,411	15,867
Bank	interest receivable		34	13
			12,445	15,880

			A&Ines!ad to	A&Ines!ad to
			C atttable		Coals ol		Oo'i	tT'an"
			acravl(Ies	tais	I'	funJ
Governance
Audit			3,603			4,972			8,575
Legal and professional		fees	123			170			293
Support costs (Note	5)		2,808			3876			6.884
Travel and subsistence			71			97			168
Wages and national	insurance		19,930			27.5'IO			47,440
			26,535			36,625			63,160
Suppolt coals
Bank charges			1,013			653		126	1,792
Depreciation			721			995		193	1,909
Finance			552			762		148	1 462
Foreign exchange			(51)			(71)		(14)	(136)
General oflice			13,573			11,960		2,319	27,852
IT			2,182			3.011		584	5,777
Premises			13,113			17,166		3.328	33,607
			31,103			34,476		6.684	72,263

				Unrestricted	Restricted	Total F!inds	Total Funds
				Funds	Funds
						2022	2021
						E
Bank charges				2,670		2,670	2,421
Other promotional		activities		27,364		27,364	10,099
Printing and	design			5264		5,264	1,032
Postage and stationery				14		14	22
Governance	costs	(Note	5)	36,625		36,625	36,576
Support costs (Note 5)				34,476		34,476	46,881
Travel and	subsistence			191		191	65
Wages and	national insurance			217,768		217,768	247,500
Investment	management		fees	7,960		7,960	9,723
Other fund	raising	costs		6.144		6.144	16,664
				338,476		338,476	370,983

					(
7 I XP NDITURE CFI CHARiTiABLF		AC rIVITIES			sr. HOPE
		Unrestricted	Res!ncted	Total Funds	Tenet Funds
		Funds	Funds
					2021
					E
ACET, Uganda		59,800		59,800	43,858
ACET VIP, Uganda		15,579		15,579	10,922
ANPPCAN, Kenya		36,979	516	37.495	34,040
ANPPCAN VIP, Kenya		14,120		14,120	12,037
Bicycle Fund					2,639
CDN Nakuru, Kenya Cheka Sana, Tanzania		11,362 27,841	6,203 144	17,565 27,985	22,265 23,364
Child Headed Households CWPS, Zimbabwe	Programme	29,560 7,056		29,560 7,056	12,150 35,942
Fanisi, Tanzania orna,		6,548		6,548
Goat Fund					1,226
Infrastructure		31,688		31,688	2,046
Knowledge exchange		1.265		1,265
MPC Blantyre, Malawi		39,476	17,339	56,815	44.437
MPC Blantyre VIP, Malawi		2,100	8,319	10,419	10,958
MPC Nkh Iulalawi Oasis Mbale, Uganda		2,794 16,009		2,794 16,009	5,479 12,175
Oasis Pader. Uganda Oasis Capacity Building, Uganda		13,294 9,413		13,294 9,413	19,175
PASADA. Tanzania		4,910		4,910	13,991
RIDE, Uganda		40,919		40,919	18,712
RIDE VIP, Uganda		14,464		14,464	5,232
Salvation Army, Uganda		17,752	484	18,236	15,972
Salvation Army, Zimbabwe		7,897		7,897	10,728
Simukai, Zimbabwe		26,318	2,400	28,718	27,429
Undugu, Kenya		18,589	17,600	36,189	30,390
ZACA, Zanzibar		19,165	10,018	29,183	27,012
Other VIP various		77,205		77205	74850
		552,103		615126	517,029
Grants to individuals
Scholarships		120		120
Monitoring and evaluation
Wages and Nl		164,438		164,438	145,337
Travel costs Other direct costs Governance costs (note 5)		9,835 62,213 26.535		9,835 62,213 26,535	3,767 61,546 24.125
Support costs (note 5)		31.103		31.103	37.373
		846,347	63,023	909,370	790,745

WESEEHOPE	NOTES TO THE FINANCIAL	NOTES TO THE FINANCIAL	NOTES TO THE FINANCIAL	STATEMENTS	STATEMENTS	STATEMENTS	FOR THE	YEAR	ENDED 30™ JUNE 2022	ENDED 30™ JUNE 2022
										wt 3-r
8 NET EXPENDITUR			FDR THE	YEAR						HOPE
										20" I
This is stated after charging:
Auditors' remuneration:
Audit fee									8,575	8,022
Accountancy,	taxation	and	other services						1,136	960
Depreciation	on owned	assets							1.909	2,389
9. STAI=F	COSTS
									2022	2021
Wages and	salaries								362,983	373,630
Social security costs									37,230	34,492
Pension costs									29,433	29,206
									429,646	437,328
The average	monthly head		count ofemployees			during	the year	was:
									2022	2021
									No.	No.
Full time equivalent										10
The number	ofemployees		whose employee		benefits		amounted	to over F60,000		in the year was:
									2022	2021
									No.	No.
F80,001 - c90,000
870,001 - E80,000

iU TANGiBLE FIXED AESETE	iU TANGiBLE FIXED AESETE	iU TANGiBLE FIXED AESETE			'E 3.3 HOPE
			0QiTi Q ' ltc:		.Qtsl
			I:qu!Qill Pnt	Eti ui p ment
				E
Cost
At 1st July 2021			34,414	18,443	52,857
Additions			780		780
Disposals At 30th June 2022			35,194	( 2,140) 16,303	( 2,140) 51,497
Depreciation
At 1st July 2021			33,506	15,472	48,978
Charge for the year On disposal At 30th June 2022			1,168 34,674	741 ~t920 15,293	1,909 ( 920) 49,967
Net BookValue
At 30th June 2022			520	1,010	1,530
At 30th June 2021				2,971	3,879
F' Etl AS=F	lihlVES IiyiEI'I iE
Valuation
Opening balance			1,006,636	1,040,970
Additions at cost			62,758	483.848
Book cost adjustments			617	270
Disposal proceeds			( 369,365)	( 406,193)
Net realised investment gains			69,796	79,069
Net unrealised investment		(losses)l gains	( 171,526)	110,308
Net cash movement Market value at 30th	in investments June		11,294 610,210	~(3D1,636 1,006,636
The investments are	made	up as follows:
UK equities			173,610	295,739
Overseas equities			319,932	541,609
UK fixed interest and	gilts		23,740	66,553
Others			92,928	102,735
Total			610,210	1,006,636

		2022	2;)21f
Other debtors		9,389	15,905
Prepaym	ents	10,729	10,906
Accrued	income	7,528	14,279
		27,646	41,090

13.CREDITORS: ALMOUKITS FALLING D	UE WITHIN ON YEAR
	2022f	2021
Other taxation and social security	10,107	10,065
Other creditors	1,441	3,145
Accruals	18,609	33,711
	30,157	46,921

14.STAt EIYIENT OF FUNDS
	At 1st	Income	Expenditure	Other losses	At 30th
	July 2021				June 2022
	E	E	E	E	E
Unresiricted	1,056,955	905,742	(1,184,823)	( 101,112)	676,762
Charitable acgvities
ANPPCAN, Kenya CDN Nakuru, Kenya		516 7,333	(516) (6,203)		1.130
Cheka Sana, Tanzama			(144)
MPC Blantyre, Malawi		17,339	(17,339)
MPC Blantyre VIP, Malawi	8,319		(8,319)
Salvation Army, Uganda		484	(484)
Simukai, Zimbabwe		2,400	(2,400)
Undugu, Kenya	17,600		(17,600)
ZACA, Zanzibar		12,974	(10,018)		2,958
Other VIP various
Restricted	26,063	41,046	(63,023)		4,086
Toad Funds	1,083,018	946,788	(1,247,846)	( 101,112)	680,848

	At '1st	Income	Exgenc!iture	Dither gains	At 30th
	July 2020				Jime 2021
0nrestricted	6			6	6 .058.
Charitable activities
ACET VIP, Uganda ANPPCAN. Kenya ANPPCAN VIP, Kenya Bicycle Fund CDN Nakuru, Kenya Cheka Sana, Tanzania Child headed households Goat Fund MPC Blantyre, Malawi klPC Blaotyre VIP, Malawi MPC Nkhoioa, Malawi Oasis Mbafe, Uganda PASADA. Tanzania RIDE VIP, Uganda Salvation Army, Uganda Simukai, Zsubabwe Undugu, Kenya ZACA, Zanzibar Other VIP various Resetcted	3.519 1,168 23,508 1,060 19,277 14,819 47,990 13550 124891	516 498 2,333 7,000 15,240 1.750 1,486 292 4,515 2,600 10,000 46.230	(3,519) (516) (498) (1,168) (2,333) (23,364) (7,000) (1,060I (15,240) (10,958) (1,750) (1,486) (292) (4,515) (14,819) (2,600) (30,390) (10,000) (13,550) (145,058)		8.319 17,600
Total Funds	1.320948	734 151	(1,161,728)	189617	1083,018

15.ANALYSIS OF THE CHARITY'S	NET ASSETS BET	WEFN FLINDS	(CONTINUE
	Pesrricsed	General	Total
	funds	fundsf
Fund balance at 30th June 2021
Represented by:
Tangible fixed assets Investments		3,879 1,006,636	3,879 1,006,636
Net current assets	26,063	46,440	72,503
	26,063	1,056,955	1.083,018

				2021f
Net income		(402,170)	(237,930)
Depreciation of tangible assets		1,909		2,389
Investment income		(12,445)		(15,880)
Net tosses/(gains) on investment	assets	109,072	(179,924)
Realised loss on fixed asset disposal		290
Working capital rnovemenis:
- decrease/(increase) in debtors - (decrease)/increase in creditors		13,209 ~16266,		34,185 14,752
Cash flow used in operating	activities	~2366,M6	i 362.6263

			2022 f	2021 f
Total	payments	due:
Within	one year		37,375	35,836
Within	two to five years			37,375
			37,375	73,211