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2024-03-31-accounts

PREVENTING HOMELESSNESS. TRANSFORMING LIVES.

Annual Report and Consolidated Financial Statements 2024

Company Registration Number: 3969063 Charity number: 1080784

Annual Report 2023 — 2024

Contents

Chair and CEO’s Welcome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Objectives and Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Our Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Achievements and Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 New Hope Services: Intervention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 New Hope Services: Recovery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 New Hope Services: Prevention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Our Chaplain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Fundraising and Communications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Volunteers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Partnership work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Financial review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Reference and Administrative Information . . . . . . . . . . . . . . . . . . . . . . . . . 29 Audit report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Annual Report 2023 — 2024

Chair and CEO’s Welcome

National statistics show that homelessness in the UK increased by 27% in 2023. On top of the underlying issues of domestic breakdown, mental health and substance misuse that blight so many lives, the increase in rents, cost of living and shortage of affordable housing have pushed up evictions and the number of people who can’t afford a roof over their heads.

The remarkable dedication of the New Hope team and other local partners supported by Watford Borough Council (WBC) and Herts County Council has helped protect Watford from the worst of the increase.

Winter is often the time when those facing homelessness are most vulnerable. With funding from WBC we offered an expanded version of the Watford Winter Shelter (WWS) based at the Haven.

One of our volunteers assembled bunk beds in an upstairs room at the Haven and our team set about using the winter shelter not only to offer accommodation but also to try to engage with service users more deeply to prevent them going back on the streets when the shelter closed at the end of winter. Ably led by Debby McKinlay, manager of the Haven, a mix of staff and a large team of volunteers not only gave a bed for the night but provided food, games nights, film nights and of course advice and support.

As well as intervening as early as possible in the lives of those facing homelessness through our street outreach team and the Haven, we also work hard to make sure that once we have helped someone find a tenancy they don’t find themselves on the street again. The work of our Tenancy Sustainment Team (TST) is remarkable as they often work with people facing multiple challenges to help them settle in and build a solid foundation for independent and responsible living.

We are all very familiar with the demands on the health service. For those facing homelessness this

can be even more challenging, both for the service users and often for the health service. At the Haven we have now run several days where a number of healthcare providers offer tests and treatment to our service users. These have been very well received and led to many service users receiving life-saving diagnoses and treatment.

For a number of years, we have been praying and working towards being able to develop a multidisciplinary centre for those facing homelessness. This would bring together our support work and accommodation but also facilities for partners in health, mental health, Alcoholics Anonymous, Cocaine Anonymous, probation and other areas. Our Sanctuary building has been the site of so much wonderful work but is increasingly tired and barely fit for purpose. Our aspiration is to redevelop this site to bring together the work of the Haven and the Sanctuary in a well-appointed, purpose-built but flexible building.

This year we have been blessed to have been given a very generous donation which, along with some funds left from a previous legacy, will enable us to purchase the Sanctuary site. This will be very much step one of the process. Although we have detailed plans for the site, we are now getting more detailed costings and developing a plan to finance the new building.

For the last 25 years we have rented a property in Rickmansworth Road from WBC with a large garden area (previously home to our Community Market Garden). This has evolved from a community home to a recovery service while providing an area of peace and a chance to participate in a range of activities and workshops. We have known that WBC would want to develop this site at some point and that time has now arrived. During the pandemic we had set up Cultivate to take our horticultural work into the services which has proved a great success. As we leave Rickmansworth Road, WBC has committed to providing another property which we will add to our growing portfolio of HopeHomes, supported by TST as well as Cultivate and our chaplain.

Annual Report 2023 — 2024

Both Cultivate and our Chaplaincy services provide a crucial link for service users as they access our services, whether that be the Haven, Sanctuary, New Hope House or HopeHomes, |an Bond’s work as a horticultural therapist is such a gift to us, as is Sarah Shaw, our chaplain. Their mix of skills, compassion and prayer have been important ingredients in our work as we seek to prevent homelessness and transform lives.

For much of the time, our team works away in the background and, as our deputy CEO often reminds us, we never give up. Last year a number of the team were recognised more publicly for their work. The High Sheriff awarded us for our work with those facing homelessness and WBC’s ‘100 people who helped make Watford’ included our founders Janet Hosier, Sheila Meaning BEM and Dr Tim Robson, OBE as well as Polly Odbert, the volunteer manager of our charity shop in Watford.

Without the support of volunteers, donors, statutory funders and our army of prayer warriors, we wouldn’t be able to function. Last year, our fundraising and communications team excelled themselves putting on a number of events and telling our story in such an effective way. The sleepout at Watford FC’s stadium, the Big Give, the Thames Bridges Trek are the most visible but the many grant applications, wonderful prayer letters and many other initiatives help provide the finances to underpin our work. Thank you to them for all their work and big thank you to everyone who supports us. We are so appreciative of your support and give praise to God for His faithfulness.

John Ford Chair

Matthew Heasman CEO

Annual Report 2023 — 2024

Objectives and Operations

Our Mission

New Hope exists to serve people with current or recent experience of homelessness by providing accommodation and opportunities to rebuild damaged lives. Founded upon Christian values, which are at the core of our operation, we support people regardless of faith.

New Hope is a Christian charity. This means we value everybody and work to support people regardless of faith, class, disability, ethnicity, gender and sexual orientation. It doesn’t mean that our staff and volunteers have to be Christian, to pray, or to share all of our motivations. We do however ask that all staff and volunteers are sympathetic to our mission, ethos and values.

Our mission is encapsulated in our strapline: ‘preventing homelessness, transforming lives’.

Our Primary Objectives

We aspire to help the people we work with access pleasant, permanent accommodation that they can call ‘home’.

Our values

Annual Report 2023 — 2024

Our services

To achieve our aims and objectives, New Hope provided the following services in the last financial year.

INTERVENTION

24-7 emergency homelessness helpline

Only dedicated homelessness phone service in the Watford area.

Outreach Plus

This service finds and engages with individuals who are rough sleeping in Watford and provides immediate emergency accommodation (three-beds).

The Haven

Provides food, clothes, showers, laundry facilities, sleeping bags and support to people who are sleeping rough.

RECOVERY

Sanctuary Emergency Accommodation

22-bed emergency accommodation.

Recovery Services Accommodation

Two homes providing accommodation for up to 14 individuals who are in recovery from alcohol and substance misuse.

Cultivate

Horticultural therapy, creative arts, wellbeing sessions, practical projects and pre-vocational opportunities.

PREVENTION

Tenancy Sustainment Team (TST)

Support for those renting after a period of homelessness to enable them to keep their tenancy.

HopeHomes

Long-term affordable rental homes for people who have been homeless and are now ready to live independently.

In the provision of these services the trustees have considered the Charity Commission guidance on public benefit. The trustees consider the services New Hope provides are within the definition of public benefit.

Annual Report 2023 — 2024

Our Strategy

In July 2021, we launched ‘Roots’, our strategic plan for 2021 – 2026. Roots is divided into two strands under the headings: Service User Priorities and Organisational Improvement. It is important to note that the second strand feeds into the first i.e. as the organisation continually improves so do the outcomes for service users.

To read the Roots strategy in full, please visit www.newhope.org.uk/roots-strategy

Strand A: Service User Priorities

My Home

We will work with service users to help access pleasant, permanent homes and then support them in maintaining, and where necessary, keeping possession of their tenancy, developing their independence, and helping them to become integrated, contributing members of their local community. We recognise that this will be a challenge because of the lack of affordable housing in the Watford and Three Rivers areas.

My Health

We will work with specialist health services to assist service users in accessing the best possible support for their physical and mental health, including their recovery from addiction. We will continue to develop an exemplary approach to ensure Trauma Informed Care and Psychologically Informed Environments are embedded within all of our services.

Strand B: Organisational Improvement

Strengthening the team

We will seek to improve and strengthen the way in which we manage our team of staff and volunteers.

Resourcing the vision

We will develop a new fundraising and communications strategy in response to the Roots strategy.

Investing in partnerships

We will continue to build on strong existing foundations and further strengthen New Hope’s good standing with partners organisations.

Being faithful to our mission

New Hope will be recognisable as having the same mission which inspired its founders to form the charity in 1990. Our work will be marked by our caring, kind, and compassionate relationships with service users, particularly those who are destitute

My Hope

We will prioritise support for those who fall through the cracks, including those who are rough sleeping, those who have failed to engage with other services or have restricted eligibility to benefits. We will strengthen existing services and introduce new ones to help service users experience increasingly fulfilled and meaningful lives and enjoy the prospect of better, brighter futures.

Annual Report 2023 — 2024

We have already achieved the following:

My Home

My Health

My Hope

make New Hope develop a reputation as an employer of choice

Resourcing the vision

Investing in partnerships

Being faithful to our mission

Annual Report 2023 — 2024

A new strategy, Cornerstone, was launched in September 2024. This can be read at

www.newhope.org.uk/cornerstone This strategy focuses on:

The first priority of the 2025-2030 Cornerstone strategy is to Open the Hub . The Hub is the working title for this project. The completed development is likely to have a different name.

We plan to buy the freehold of the Sanctuary, and construct an exemplary new centre on this site that will combine the humanitarian aid, care and support offered at the Haven with the emergency accommodation provided at the Sanctuary. We want to work closely with other agencies within this new building to do everything possible to intervene swiftly in people’s lives. This will include ensuring that they have access to the right healthcare. As part of this plan, the site currently occupied by the Haven is likely to have to be sold to help raise funds for this new project.

time and New Hope’s role within it became clearer. Our key function within the pathway was recognised as being the first point of contact for adults facing homelessness. In tandem with this it became obvious that not enough was being done to intervene swiftly in terms of the poor health of many of our service users. So, a second priority for this strategy was identified, Prioritising Health . The third priority – Aiming for Excellence – reflects New Hope’s commitment to continually improving the quality of every aspect of our work whilst the fourth priority – Service Improvement – identifies key areas for development not already referenced elsewhere in the strategy.

The design of the new building will be critical in terms of providing a service which makes people feel safe and relaxed. We want to make it a warm and welcoming environment, giving a flavour of home rather than that of an institution. However, we recognise that the design of the building is only part of the story. We remain committed to a service which is still thoroughly person-centred, where individuals are known by name and treated in a manner which promotes their dignity and reflects their worth.

The previous strategic plan, Roots, was written just as the pandemic was ending. At that time, as a result of the impact of the national ‘Everyone In’ initiative, the number of rough sleepers on the streets of Watford had dropped dramatically. The town had received a considerable investment of government money to provide improved accommodation for people recovering from homelessness, much of which enabled the work of other organisations to expand. In the months that followed, the numbers of rough sleepers perhaps unsurprisingly began to steadily rise again. However, the Watford Single Homeless Pathway began to function more effectively around this

Annual Report 2023 — 2024

Achievements and performance

This year, we supported 484 individuals. In addition, there were 1,003 calls to our 24/7 emergency helpline.

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Annual Report 2023 — 2024

Intervention

24/7 emergency homelessness helpline

The only dedicated homelessness phone service in the Watford area

1,003 phone calls

This phone line is answered by the team at the Haven during the day and by the team at the Sanctuary during the night.

Outreach Plus

Finding and engaging with people who are rough sleeping in Watford and providing immediate emergency accommodation.

Outreach Plus consists of a manager, two street outreach workers, and two regular volunteers.

Highlights

Outreach Plus is the first step on Watford Borough Council’s Single Homeless Pathway and features over 40 hours of street outreach per week, including late nights and early mornings. Outreach Plus also includes three crisis bedrooms.

Future objectives:

I’ve been volunteering for New Hope for over two years, working with the chaplain and with the Outreach Team. You see a lot of sadness, but it’s also extremely rewarding. Despite all the challenges that people who are homeless face, their ability to survive is impressive - and the gratitude that they express for the little they have can be humbling.

Peter, New Hope volunteer

Annual Report 2023 — 2024

I was homeless and on the streets for five years in Watford. I always found spots that were out of sight to set up my tent and I was mindful of not showing the public I was homeless. Several times, I came back to my spot and found my tent and all my belongings gone, stolen or taken away. Each time I had to start over, asking “where am I going to sleep tonight.” I’ve experienced my tent flooding and I’ve just laid there because I didn’t want to leave anything behind to be taken or stolen, and having to wander round in the middle of the night to find somewhere to rest.

The Haven

Providing expert advice in finding accommodation as well as humanitarian aid, including food, showers, clothes, laundry facilities and sleeping bags.

The Haven consists of a manager and three parttime support workers augmented by experienced casual workers. Regular, long-term volunteers help in the kitchen and with sorting clothes and food donations.

The Haven supported 335 individuals including 151 people who had never used New Hope services before. Our support ensured that people were rapidly able to access appropriate accommodation locally, reconnect with family and friends in other places, remain in their existing accommodation, or receive help from statutory services who had a legal ‘duty of care’ for the individual.

The Haven support workers provided help and advice to people threatened with homelessness (often because of evictions or repossessions), to people who were homeless but not yet rough sleeping i.e. people who were ‘sofa-surfing’, sleeping in a car, or staying in a hotel (having nowhere else to go). The Haven follows a PIE (psychologically informed environments) approach and treats each service user as an individual. Service users know the Haven team is on their side, acting as advocates with other professionals.

The Outreach Team were always coming out to see me – it felt like they really cared about me and even if they’d woken me up I was grateful. One morning they came and said “come to the Haven today.” I remember going, expecting just some donated clothes but they gave me a brand-new winter coat, waterproof trousers that fitted and a pair of new walking boots in my size. They were like a blessing.

Katherine

This year, the Haven team ran the Watford Winter Shelter from 1 December 2023 to 31 March 2024. Bunkbeds accommodating 15 people were put up in the first-floor rooms at the Haven and each evening a healthy and delicious hot meal was served. Thanks go to Watford Borough Council for funding this unique provision and to the volunteers who gave up their evenings to help provide the hot and healthy meals and created the friendly and welcoming atmosphere.

Highlights

Annual Report 2023 — 2024

Statistics

The staff and volunteers at New Hope have delivered such an important service that has made a real difference in the lives of many people. I’m glad we were able to provide funding from Watford Council to help make this happen.

Peter Taylor, Elected Mayor of Watford

(Breakfast at the Haven) makes you feel happier throughout the day. Instead of starting the day feeling hungry, it helps you start positive. I try to stay positive but it’s hard when I’m hungry. I just hope that this is the beginning of a turn-around.

A Haven service user

I am eternally grateful to you guys; you have literally saved my life A Haven service user

Future objectives:

I was just living in a rented house in Garston but it wasn’t right. I wasn’t given any notice at all to go, and then after that, I moved into a hotel in Borehamwood. I had to move from the hotel because, unfortunately, financially, I couldn’t carry on there.

And then I came to Watford. On that first day I went to the Haven from the Town Hall. The funny thing was, I didn’t really want to stay there in the evening because I wasn’t sure who was going to be there. So I went out and spent the night outside. It was very cold in February so after one night of that, I decided that it was best to come back here.

After that I stayed the nights here. My first impressions were that it was quite affable. There are comfortable chairs and everything. Everywhere is clean. They’re very friendly here. You won’t starve here. Fantastic meals, Five-star meals! Fantastic! And the staff have really done a really good job. I have to say, they are fantastic. They got me into the YMCA and I’m now looking for a place to rent.

Someone who used the Winter Shelter

Annual Report 2023 — 2024

Recovery

Sanctuary Emergency Accommodation 22-bed emergency short-term accommodation

The Emergency Accommodation team consisted of a temporary manager and a team of support workers. The team has relied heavily on support from New Hope’s casual workers, temporary cover staff from a local agency, and night-time security staff.

This service focuses on helping people with a statutory local connection to Watford Borough and is key to the council’s Single Homeless Pathway. Individuals work with a support worker to create an individualised plan to help them move towards longer-term accommodation.

The Emergency Accommodation is often the first step off the street for people and provides a literal sanctuary for people when they are at their most broken and have lost hope. The service users accessing Emergency Accommodation continue to be incredibly vulnerable and often with complex needs.

Future objectives:

It feels really nice to know that the people from B&Q took time out of their lives to help people like us, it feels good to be thought about when you feel forgotten.

Emergency Accommodation resident

The renovations B&Q did in the showers have had a really positive impact on service users; they really appreciate the time these people gave to help improve their quality of life. Kiernon, support worker

Highlights:

A new permanent manager started work on 1 April 2024.

Annual Report 2023 — 2024

Recovery Services Accommodation

Two homes providing accommodation for up to 14 people who are in recovery from alcohol and substance misuse

The Recovery Services team consist of a manager, assistant manager, a substance and alcohol misuse worker, a wellbeing worker, two support workers, and three night support workers.

From 1 April 2023, the Recovery Services consisted of two homes and the third home became one of our HopeHomes.

Life at New Hope is frequently a mix of joy and grief and this year was no exception. The hardest moment of 2023-2024 for the Recovery Services was the loss of a resident in December from COPD. She maintained her recovery right through to the end. The residents were supported by the chaplain who led a time of remembrance. This was our tribute to Karen which we read out at our most recent celebration service.

Karen was known to New Hope for many years. She moved into the Recovery Services in 2022 where she was able to become clean and free of her addictions. She was so proud of her achievements. She delighted in her family and was thrilled to be able to spend time with her children and grandchild. She spoke very positively about the staff and how she was incredibly grateful for everything they did for her. She was a much-loved resident. Karen died with her family by her side in December 2023.

There were also moments of joy: we shared Katherine’s story in our Christmas appeal. She successfully moved on from the Recovery Services to her own accommodation.

The team got me into

accommodation and things really started changing for me. I got into my room and I could lock the door – it really takes some getting used to, having a bed, electricity, running water, a shower. I was given my own TV by my keyworker and I didn’t even watch it for the first few days, I just stared at it – it had been so long since I had one.

I get gifts at Christmas, even my birthday being recognised with a card and cake, ultimately the fact that people here celebrate ‘you’, I really appreciate it. On Christmas now, I get to put my feet up while the staff rush about making us all a Christmas dinner – the chaos of it all really makes this place feel like a home.

Highlights:

Annual Report 2023 — 2024

Future objectives:

Cultivate

Horticultural therapy, creative arts, wellbeing sessions, practical projects and relational support for people accessing all of New Hope services

Cultivate consists of a full-time manager (a qualified horticultural therapist) and a part-time support worker (a qualified gardener who is training in psychodynamic counselling).

Cultivate has matured and developed over the last year. The service has become increasingly flexible and mobile, following a three-phase model which reinforces the agency of the service user:

Phase 1 – focused, gentle interactions – this approach works for people who have experienced complex trauma and who find it hard to trust

Phase 2 – short commitment – this approach works well for people with whom a foundation of safety has been created over time and who feel confident to imagine succeeding at the activity

Phase 3 – structured engagement s – this approach works best for people who have moved into longer-term, supported accommodation and are aiming to achieve a goal

The Cultivate team has created three tools to equip and train New Hope support workers: the Key Work Tree, the Resistance Tree and the Strengths Tree.

Highlights:

As a floating support service, Cultivate offers transitional support to service users moving from one service to another. This consistent thread of relational support helps avoid re-traumatisation and shame, especially if a person has been asked to leave a residential service.

Annual Report 2023 — 2024

We connected a Sanctuary Emergency Accommodation resident with Cassiobury Park Green Gym because he had an interest in gardening. He was welcomed by the group and soon became a valued member of the community. Over autumn, winter and spring the resident has helped design a new section of the Peace Garden and planted up his own areas. He has expressed that this is a vital part of his wellbeing, both the act of interacting with the plants and the social benefits of being a valued member of a positive community

Ian, Cultivate manager

Cultivate activities are therapeutic. You’re in your own space and in control of every moment. It’s calm and reflective and gives you a bond with other people in recovery that you wouldn’t normally get. It’s amazing how infectious their positive thinking is.

Future objectives:

Tom, resident at the Recovery Services

Annual Report 2023 — 2024

Prevention

Tenancy Sustainment Team

Support for people renting after a period of homelessness to enable them to maintain their tenancies (including complex needs support and support for people in temporary accommodation in the Three Rivers borough)

HopeHomes

Long-term, affordable shared houses for people who have been homeless and are now ready to live independently. Our HopeHomes portfolio grew to three properties and 13 residents on 1 April 2023.

The Tenancy Sustainment Team, which also oversees HopeHomes, consists of a manager, assistant manager, a HopeHomes worker, a senior complex needs support worker and a complex needs support worker, and two support workers. The team was assisted by two regular volunteers and VINCI who volunteered in the summer, painting the playroom.

The team’s work includes tenancy set-up, helping with benefits, furnishing new accommodation (which is generally completely empty), reducing barriers to moving i.e. debt, supporting people’s costs of living needs, advocating for service users, providing emotional support, and taking part in multi-disciplinary team meetings.

The team worked on some complex cases involving childcare issues, court cases, probation, mental health services, and drug and alcohol services. The team provided steady, knowledgeable support for people in crisis and has advocated on their behalf to statutory housing teams.

units and 42 family units in Three Rivers Temporary Accommodation.

Future objectives:

Highlights:

Annual Report 2023 — 2024

Due to the housing association losing my application in the system but with the help from TST I achieved my goal and regained my dignity and a sense of purpose. After all the deaths within my family, I shut myself off from anyone who was close to me, as this was a way of dealing with the grief I was going through, also I was ashamed of myself, by ending up in the situation I was in! TST always encouraged me to get back in touch with my loved ones, which eventually happened.

It was a pleasure working with someone who is down to earth. I do not know what I would have done without TST. The help and support I’ve received in the short time I was living in Acacia Avene is something I have never experienced before.

Someone who was supported by TST

I was blessed with a place, which I actually regard as HOME, compared to places in the past. I am much more at peace within myself and my children and grandchildren spoilt me the other day on my 60th birthday.

I believe I am blessed, as every morning I wake up and draw breath, I have a home and I never go hungry. The Tenancy Sustainment Team played a positive role in my journey, for which I will always be grateful.

Someone who was supported by TST

Annual Report 2023 — 2024

Chaplaincy

The chaplain, a committed Christian, and a team of three volunteers spend time with residents in our different services, including our winter shelter, in a relaxed and informal way. The team listen, encourage, and pray with people (as requested). They build up relationships of trust and people find it very easy to open up to them. The chaplain is not tied to a particular building or service so is able to work with people as they move from service to service, progressing or relapsing. This consistency of care and demonstration of grace is invaluable.

Highlights:

I would like to say a massive thank you to every member of staff and volunteers, I have been an active service user for about 8-9 years now give or take a few months and through all my years of struggling with addiction/substance abuse along with trying to cope with homelessness the only consistent part of my struggle has been the New Hope Charity. All of the staff have been super supportive and the chaplaincy have also been amazing, Sarah Shaw has given me so much support in moving into my new flat.

Future objectives:

Annual Report 2023 — 2024

Fundraising and Communications

This year, the Fundraising and Communications Team raised £1,725,138 for the work of New Hope. Please note that our income was exceptionally high due to a one-off gift of a house. This was sold and the income will be used to purchase the Sanctuary in 2024/25. The team generated gifts in kind, including regular food donations which help keep our food bills low, Christmas presents for service users, and items for the services, such as towels, bedlinen and kitchen equipment.

The team consists of a part-time manager, a parttime administrator, a full-time officer, a part-time graphic designer, and a regular volunteer who helps one day per week. The full-time equivalent is 2.7 with costs kept as low as possible.

Fundraising Appeals:

In May our Break the Cycle appeal raised £7,980 to help fund mental health work in the Tenancy Sustainment Team. This appeal was match-funded by the Big Give as part of their Kind2Mind initiative. Our Christmas appeal, Hope, not Homelessness, raised over £57,000 – our highest total ever! This includes match-funding from the Big Give’s Christmas Challenge.

Legacies and major gifts:

We are incredibly grateful for a considerable lifetime gift as well as a number of legacies. Some of these funds will be used to purchase the Sanctuary building in preparation for The Hub development.

Gifts in kind:

Daily donations of food (from local supermarkets and individuals) have been invaluable and every item from our Urgent Needs list (totalling over £3,000!) was bought at Christmas, including items

for people moving into their own homes, clothing for people sleeping rough, and items for the services. Sadly, our long-standing partnership with Ocado came to an end due to the closure of their Hatfield factory. We were very grateful to receive a farewell donation of £30,000. InSinkErator, who regularly volunteered in the Haven kitchen, purchased a new oven and gas extractor for the Haven. We received donations of fencing and raised beds from VINCI and some of their suppliers, such as GroundControl, for one of our gardens. Once again, we were grateful for the support of local faith groups and schools at Harvest time. These donations of non-perishable items are stored in a shipping container at the Haven and supply our accommodation services and the Haven with food items for many months.

Grants:

In the challenging fundraising climate of 2023-24, we were encouraged to receive a large grant from the Community Cost-of-Living Fund to provide frontline support and another from the Garfield Weston Foundation to provide tenancy sustainment services.

Events:

Almost £14,000 was raised for New Hope at the Stadium Sleepout, a joint initiative between Watford FC Community Sports Education Trust, One YMCA, Herts Young Homeless, DENS and New Hope. Almost 300 people spent the night at Watford FC’s Vicarage Rd stadium on 1 March enjoying music from Electric Umbrella, art activities, and inspirational speakers. This was a special event and we hope to be part of a similar event in the future.

We were pleased local choir, the Phoenix Choir, chose to support New Hope at their annual Christmas concert at St Mary’s Church. This event raised £650. We were delighted to officially open the new Dunelm shop in Atria, the local shopping centre, who also donated lots of home-furnishings for people moving into their own homes. Over £630 was raised at the Atria Christmas wrapping with the highlights being two passing shoppers who came up to the volunteers and said how New Hope had made a difference in their lives!

Annual Report 2023 — 2024

We did not hold an annual celebration event in this financial year, choosing to wait until April 2024.

Fundraisers:

We struggled to find people to take on individual fundraising events for us. However, one man raised over £1,400 in a gym-based triathlon, Matt Tristram raised over £4,000 in a January health and fitness challenge, and our Fundraising and Communications Manager gamely did the Thames Bridges Trek on the hottest day of the year and raised over £1,000. Merchant Taylors’ school pupils took part in a sleep out on their school grounds and raised over £1, 600. We were grateful for a group of girls who sold plants at a local event and raised £997.

Corporate volunteers:

being a key member of the Policy Review Team.

The Fundraising and Communications Team was also responsible for All Together Now, the first team conference since 2018. Over 60 staff and volunteers came together for a lunch and various team-building sessions at Wellspring Church, who generously let us use their modern conference facilities for free. The team conference will now be an annual event.

I enjoyed it and it gave me an insight into what it’s like for those sleeping rough. We are going home to our beds but the homeless have to do this again and again. This is why doing this event to fundraise for the charities is important.

Rian, age 11, who took part in the Stadium Sleep Out

We had regular volunteering from local businesses in the Haven kitchen with a total of five helping over the year. The company buys the ingredients and then two volunteers cook and serve the breakfasts. This works well for all involved – the company enjoys hands-on volunteering and interacting with service users, the Haven kitchen is covered, and the guests appreciate new faces to talk to. We also had five companies cook dinner at the Sanctuary, including two regular groups. This is something we want to develop.

Seven companies helped with decorating and gardening across New Hope. Five businesses helped by delivering our Christmas appeal leaflets to local residents in December.

Internal and external communications:

The Fundraising and Communications Team is responsible for all internal communications which are vital in a charity based in multiple locations and with staff working different shifts. Regular internal emails and posters are sent out. The Fundraising and Communications Team created new recruitment materials, the new Employee and Volunteer Handbooks, new Policy Handbook, and oversee New Hope’s website and social media channels. The Fundraising and Communications Manager plays a strategic role, which included

Annual Report 2023 — 2024

Volunteers

75 people volunteered on a regular year-round basis, mostly at our two charity shops. We also had ad hoc volunteers helping with fundraising activities and during the Christmas week. The Watford Winter Shelter ran for 122 nights with 37 people helping regularly.

Every New Hope volunteer completes a suite of online training modules specific to their role.

The New Hope shop is more than a shop – firstly it’s ministry, then it’s the community, then, lastly, retail. My day starts at 7.30am to get the shop ready for the daily volunteers to arrive by 9.30am. Putting the float into the tills, checking enough milk, tea, coffee and biscuits are available for the team, and getting certain jobs ready for each volunteer.

Polly Odbert, volunteer manager of our Watford shop

Our Croxley shop has been running for 10 years now and many of the volunteers have been with us since the beginning. We refurbished the shop in the summer – with the volunteers doing the majority of the work. Our purpose is multi-faceted, we are community-based shop with events, such as coffee morning, we raise money for New Hope’s services, we enable people to buy good quality items and we stop items from going to landfill!

Bella Crawley, manager of the Croxley shop

I volunteer as part of New Hope’s Outreach Plus service. Here, I join a fantastic team that builds relationships with people experiencing homelessness. As part of this service, the team offers ongoing support to homeless people, providing humanitarian aid and guidance on how to access accommodation. It has been inspiring to work alongside a team of people with so much compassion and see for myself the difference they are making.

Emily, Outreach Plus volunteer

Annual Report 2023 — 2024

Partnership

Partnership work is key and we have been pleased to work well with the following local organisations.

Ascend Change Grow Live Citizens Advice Community Mental Health Trust Emerging Futures Hertfordshire Social Services Keech Family Support Meadowell Health Services MIND One YMCA Oxygen Routes Salvation Army Homes St Albans and Watford Probation The Living Room Three Rivers District Council Watford Foodbank Watford Borough Council Watford Community Housing Trust

Thank you

As a local charity focusing on Watford and Three Rivers, we are dependent upon the support of our community. We are grateful to everyone who has donated, either a financial gift or a gift in kind, such as food, toiletries, or household items. We cannot possibly thank everyone who has donated here but please be assured that every donation matters to us. We would, however, like to say a special thank you to the following donors:

Statutory

Hertfordshire County Council Cost-of-Living Fund Three Rivers District Council Watford Borough Council

Trusts and foundations

Garfield Weston Foundation Hertfordshire Community Foundation J and S Ford Charitable Trust Maurice and Hilda Laing Charitable Trust Pat Newman Memorial Trust Richard Platt’s Relief-in-Need Charity Rutherford Charitable Trust The Albert Hunt Trust The Big Give The Joseph Rank Trust

Faith groups, community groups, and schools

Ark Community Church

B&Q Foundation Bograts Explorer Scouts Bugler Foundation Cathedral and Abbey Church of St Alban Derby Road Baptist Church Dream Earth Project

Fareshare

Annual Report 2023 — 2024

Haberdashers’ Preparatory School Hand on Heart KindheART Charity Sandy Lodge Golf Club St Andrew’s Church, Chorleywood St George’s Day Charity Club St Helen’s School St Lawrence’s Church, Abbots Langley St Luke’s, Bricket Wood St Luke’s, Watford St Mary’s Parish Church, Watford St Stephen’s Lodge Watford Lions Wellspring Church West Watford Golfing Society The Ark Synagogue

We would also like to thank the sponsors of the Stadium Sleepout: Imagine, Top Golf, Levy, West Hertfordshire Teaching Hospitals, and Warner Bros. We are also incredibly grateful to Watford FC Community Sports Education Trust for all their hard work in putting on the Stadium Sleepout and inviting New Hope to be involved.

Companies

Centrica Costco De Lage Landen Greggs Hawksmoor Construction Ltd Ian Williams Ltd InSinkErator International Craft Ltd J P Hildreth Ltd Kilnbridge Lidl NL Property Ocado

Sustainable Film Tivoli group Ltd Vinci Construction Warner Bros Studios Watford and Three Rivers Trust Wenzel’s

Annual Report 2023 — 2024

Financial Review

We had a positive year during 2023-24 raising a total income of £3,590,288. This included a large, very generous, one off donation, which included both a cash donation and a property. The property was sold later in 2024 and we intend to use the proceeds to purchase the Sanctuary site on Exchange Road. This year also saw an increase in Housing Benefit and in our retail income. This has helped to support the costs of our services throughout the year.

We have been impacted, as have most organisations, by increasing costs and our expenditure increased 16% to £2,717,470. The growing costs are concerning, however we continue to work as efficiently as possible.

Our total funds at the end of the year were £3,387,386. We designated the large donation and a couple of additional legacies at the end of the year to set aside funds to enable us to purchase the Sanctuary site. We now have designated funds of £2,294,569, an increase of £899,446. Our restricted funds fell by £58,643 to £449,582.

Reserves policy

New Hope’s Reserves policy is designed to comply with the guidelines set out by the Charity Commissioner’s guidance on reserves (CC19-40) which states: “To justify their holding of reserves, trustees should have a reserves policy based on a realistic assessment of their reserves’ needs.”

This policy has been established so that the trustees can be confident that reserves levels match New Hope’s needs, primarily: to protect the organisation and its charitable activity by providing time to adjust to changing financial circumstances.

New Hope maintains three types of reserves; restricted reserves are given for specific purposes and cannot be spent on the general costs of the charity. At the 31 March 2023 New Hope had restricted reserves of £449,582 (2023: £508,225). Designated reserves are funds set aside by the trustees from the unrestricted funds for specific future purposes or project. On the 31 March 2024 New Hope had designated funds of £2,294,569

(2023: £1,395,123). General reserves are available for the trustees to spend on the charitable activities. At 31 March 2024 New Hope had general funds of £643,235 (2023: £611,220). The free reserves available from this are £572,309 (2023: £507,896).

The trustees have agreed to maintain a free reserves level of approximately three months of budgeted annual expenditure. This decision has been made giving consideration to the current sources of income and the likelihood of a decrease in any one funding stream. The trustees have taken into account current trends and the reliance on any single funding stream. When setting this policy the trustees have taken into consideration the length of time the charity will need to adjust to a change in funding.

At 31 March 2024 the required level of free reserves under this policy is £639,583. As above New Hope currently has free reserves of £572,309. The current free reserves held are £67,274 below the target reserves level. This difference relates to the net book value of fixtures and fittings. As the assets are depreciated the difference between the target free reserves and current reserves will reduce. The trustees have earmarked designated funds specifically for the development of the HopeHomes service and the development of the Hub, however if current general funds are not sufficient for the ongoing operation of the charity these funds can be used to support the free reserves. On this basis the trustees find the current reserves held acceptable and no further action is necessary.

Risks

New Hope has compiled a risk register identifying the actions necessary to eliminate control and reduce or accept the risk. An annual review of the register is carried out by the trustees, although the leadership team keep the risks under review on a regular basis. The trustees are satisfied that there are sufficient policies and procedures in place and applied for all the main areas of risk.

Annual Report 2023 — 2024

The register addresses the risk in nine key categories: operational risk, retail risk, financial risks, fundraising and communications, personnel, property, IT, external environment and governance. All risks are assessed due to their likelihood and impact. Where appropriate mitigating controls are put into place.

During their last review the trustees identified the following as the three highest areas of risk for the charity:

Governance

Structure

Watford New Hope Trust is a charitable company limited by guarantee, established under a Memorandum of Association which sets out the objects and powers of the charitable company. It is governed under its Articles of Association. On 1 April 2014 the charity introduced a trading name, New Hope, and now operates under that name. The charity set up a wholly owned trading company, New Hope Retail Limited, in June 2011. New Hope Retail is a company limited by guarantee, registered company number 7667185.

The Trustees

The Trustees are directors for the purposes of company law and trustees for the purpose of charity law. The Trustees act on advice and information from regular meetings with the Chief Executive and with regard to the Charity Commission’s guidance on public benefit. Other decisions made within the organisation are reported to the Board.

The Trustees who served during the period and up to the date of signing were:

Mr J R Ford (Chair)

Organisational Structure

The Trustees govern the business of New Hope and decide matters of policy, governance and strategy at regular meetings. The Trustees delegate the day-to-day running of New Hope to the Chief Executive, Mr M Heasman. The Chief Executive works with a leadership team and service managers to implement the strategy and the charity’s policies and procedures.

Dr T W Robson OBE (resigned September 2023 and reappointed September 2024)

Mr D Evans (Treasurer)

Mrs M J Sills (appointed September 2023)

Mrs A Johnson (resigned November 2023)

Mr A Robertson

Mr M Bailey (appointed November 2023)

Third party indemnity insurance was in place for Trustees during the year.

Annual Report 2023 — 2024

Guarantees

Trustees, whilst serving, and for a period of twelve months after ceasing to be Trustees, guarantee to contribute an amount not exceeding £10 each to the assets of New Hope in the event of winding up. The total number of Trustee guarantees at 31 March 2024 was five (2023: six).

Appointment and Training

New Trustees are recommended by the existing Trustees and are chosen for their ability to contribute to the needs and ethos of New Hope. All new Trustees are fully inducted on appointment. Trustees are also regularly advised of relevant training opportunities.

Sub Committees

The Trustees operate three subcommittees:

Annual Report 2023 — 2024

Reference and Administrative Information

Charity registration number: 1080784

Company registration number: 03969063

Registered office:

67 Queens Road Watford Hertfordshire WD17 2QN

The Trustees (Directors):

Mr J R Ford (Chair) Mr D Evans (Treasurer) Mrs M Sills

Mr A Robertson

Mr M Bailey

Leadership Team:

Mr M Heasman Chief Executive Mr R Edmonds Head of Services and Deputy CEO Mrs S Holford Head of Finance Mrs A Bowyer Head of Resources

Bankers and other Financial Advisers:

Royal Bank of Scotland

36 St Andrews Square Edinburgh EH2 2YB

CafCash Limited

Kings Hill West Malling Kent ME19 4TA

Auditors:

Dux Advisory Limited Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB

Annual Report 2023 — 2024 Annual Report 2023—2024

Responsibilities of the trustees Responsibilities of the trustees The trustees (who are also directors of New Hope The trustees (who are also directors of New Hope for . for the purposes of company law) are responsible the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the for preparing. the Trustees’ , Annual Report and the . ’ : ; . financial statements in accordance with applicable financial statements in accordance with applicable law and United Kingdom Accounting Standards law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting (United Kingdom Generally Accepted Accounting Practice). Practice) ,

Company law requires the trustees to prepare Company law requires the trustees to prepare financial statements for each financial year, which financial statements for each financial year, which P soit : give a true and fair view of the state of affairs of give a true and fair view of the state of affairs of the charitable company and of the incoming the charitable company and of the incoming resources and application of resources, including resources and application of resources, including the income and expenditure, of the charitable the income and expenditure, of the charitable

company for that period. In preparing these company for that period. In preparing these financial statements the trustees are required to: financial statements the trustees are required to:

The trustees are responsible for keeping The trustees are responsible for keeping

adequate accounting records that disclose with ated uste aecaunting nine aie eisehase nin

reasonable accuracy at any time the financial reasonable accuracy at any time the financial a ;

position of the charitable company and enable position of the charitable company and enable them to ensure that the financial statements them to ensure that the financial statements

comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the cue3 ae bespelekrwith wit hethe i-CdereataatHOE See QUarfos Act"sing006.4 tie asailsTh TD ohor tis

charitable company and hence for taking charitable company and hence for taking reasonable steps for the prevention and detection reasonable steps for the prevention and detection

of fraud and other irregularities. of fraud and other irregularities.

In so far as the trustees are aware: In so far as the trustees are aware:

Approved by the Trustees on 12 Approved by the Trustees on 12"[th] September 2024 September 2024 and signed on behalf of the Trustees and signed on behalf of the Trustees

Mr J Ford yy

Independent Auditor’s Report

Independent Auditor’s Report to the Members of Watford New Hope Trust

Opinion

We have audited the consolidated financial statements of Watford New Hope Trust (the ‘charitable parent company’) and its subsidiary (the ‘group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Cash flow statement and 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 consolidated financial statements:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 consolidated financial statements, we have concluded that the trustees’ 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 group’s and the charitable parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees 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 trustees annual report, other than the consolidated financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the consolidated 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 consolidated 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

Independent Auditor’s Report

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 the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable parent company and its

environment obtained in the course of the audit, we have not identified material misstatements in the financial statements as on 31 March 2024 and the trustees 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:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable parent company for the purposes of company law) are responsible for the preparation of the consolidated 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 consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the trustees are responsible for assessing the charitable parent company’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 trustees either intend to liquidate the charitable parent company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated 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 consolidated financial statements.

Independent Auditor’s Report

financial statements, as we will be less likely to financial statements, as we will be less likely to become aware of instances of non-compliance. become aware of instances of non-compliance. The risk is also greater regarding irregularities The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud occurring due to fraud rather than.error, as fraud involves intentional concealment, forgery, involves intentional concealment, forgery, collusion, omission or misrepresentation. collusion, omission or misrepresentation.

Irregularities, including fraud, are instances of nonIrregularities, including fraud, are instances of noncompliance with laws and regulations. We design compliance with laws and regulations. We design procedures in line with our responsibilities, procedures in line with our responsibilities, outlined above, to detect material misstatements outlined above, to detect material misstatements in respect of irregularities, including fraud. The in respect of irregularities, including fraud. The extent to which our procedures are capable of extent to which our procedures are capable of detecting irregularities, including fraud is detailed detecting irregularities, including fraud is detailed below: below:

A further description of our responsibilities for the A further description of our responsibilities for the

audit of the financial statements is located on the audit of the financial statements is located on the Financial Reporting Council’s website at Financial Reporting Council’s website at

www.frc.org.uk/auditorsresponsibilities = wwwfrc.org.uk/auditorsresponsibilities. . This This description forms part of our auditor’s report. description forms part of our auditor’s report.

We communicate with those charged with We communicate with those charged with

governance regarding, among other matters, the governance regarding, among other matters, the

planned scope and timing of the audit and planned scope and timing of the audit and significant audit findings, including any significant significant audit findings, including any significant ——_ deficiencies in internal control that we identify deficiencies in internal control that we identify

during our audit. during our audit.

non-compliance with laws and regulations. non-compliance with laws and regulations. Use of our report Use of our report We assessed the risks of material misstatement in We assessed the risks of material material misstatement in This report is made solely to the charitable parent This report is made solely to the charitable parent respect of fraud as follows: respect of fraud fraud as follows: company’s members, as a body, in accordance company’s members, as a body, in accordance

● ® The audit team discussed whether there were The audit team discussed whether there were with Chapter 3 of Part 16 of the Companies Act with Chapter 3 of Part 16 of the Companies Act

any areas that were susceptible to any areas that were susceptible to 2006. Our audit work has been undertaken so 2006. Our audit work has been undertaken so

misstatement as part of their fraud discussion. misstatement as part of their fraud discussion. that we might state to the charitable parent that we might state to the charitable parent company’s members those matters we are

● @ In addressing the risk of management override In addressing the risk of management override ae required to state to them in an auditor’s report and

of controls, we tested the appropriateness of of controls, we tested the appropriateness of required to state to them in an auditor’s report and for no other purpose. To the fullest extent

journal entries with a focus on large or unusual journal entries with a focus on large or unusual pono Ge Mpulpos= jeiienlesvexeir permitted by law, we do not accept or assume

transactions based on criteria determined using transactions based on criteria determined using Pecillo OUR BU sioliae, tel ioistel (ETS responsibility to anyone other than the charitable

our knowledge of the organisation and industry. our knowledge of the organisation and industry. responsibility to anyone other than the charitable parent company and the charitable parent

We also challenged assumptions and We also challenged assumptions and parent company and the charitable parent company’s members as a body, for our audit work,

judgements made. judgements made. company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ● ®@ We incorporated an element of unpredictability We incorporated an element of unpredictability for this report, or for the opinions we have formed. in the selection of the nature, timing and extent in the selection of the nature, timing and extent of our audit procedures. of our audit procedures.

● Based on the results of our risk assessment we ®@ Based on the results of our risk assessment we designed our audit procedures to identify and designed our audit procedures to identify and to address material misstatements in relation to to address material misstatements in relation to fraud, including bribery and non compliance fraud, including bribery and non compliance Because of the inherent limitations of an audit, Because there is a risk that we will not detect all there is aofriskthethat inherent we will limitationsnot detectofallan audit, irregularities, including those leading to a material irregularities, including those leading to a material misstatement in the consolidated financial misstatement in the consolidated financial statements or non-compliance with regulation. statements or non-compliance with regulation. This risk increases the more that compliance with This risk increases the more that compliance with a law or regulation is removed from the events a law or regulation is removed from the events and transactions reflected in the consolidated and transactions reflected in the consolidated

. Bianca Permal FCA Blanca Pomel FCA (Senior Statutory Auditor) (Senior Statutory Auditor) for and on behalf of Dux Advisory Limited for and on behalf of Dux Advisory Limited Kennel Club House Kennel Club House Gatehouse Way Gatehouse Way Aylesbury Aylesbury Buckinghamshire Buckinghamshire HP19 8DB HP19 8DB a Date: Date: ~~AST Sanuosy 2089~~

Watford New Hope Trust (trading as New Hope) Consolidated Statement Of Financial Activities (including income & expenditure account)

Watford New Hope Trust (trading as new hope) Consolidated Statement Of Financial Activities (including income & expenditure account)

Year ended 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds funds 2024 funds funds 2023
£ £ £ £ £ £
Note
Income
Donations and legacies 2 1,303,666 421,472 1,725,138 419,016 423,230 842,246
Charitable activities:
Intervention 3a 119,687 - 119,687 90,806 - 90,806
Recovery 3b 1,131,984 - 1,131,984 1,012,840 - 1,012,840
Prevention 3c 295,228 - 295,228 271,272 - 271,272
Other trading activities:
Retail income 278,043 - 278,043 256,501 - 256,501
Investments 40,208 - 40,208 10,328 - 10,328
Other income - - - 350 - 350
Total income 3,168,816 421,472 3,590,288 2,061,113 423,230 2,484,343
Expenditure
Raising funds:
Retail 4 156,261 - 156,261 129,566 - 129,566
Fundraising and 4 156,231 - 156,231 146,930 - 146,930
communications
Charitable activities:
Intervention 4 115,051 345,067 460,118 105,927 252,818 358,745
Recovery 4 1,488,653 73,009 1,561,662 1,273,231 112,857 1,386,088
Prevention 4 321,159 62,039 383,198 284,545 30,147 314,692
Total expenditure 2,237,355 480,115 2,717,470 1,940,199 395,822 2,336,021
Net income/ (expenditure) 931,461 (58,643) 872,818 120,914 27,408 148,322
for the year
Reconciliation of funds
Total funds brought forward 2,006,343 508,225 2,514,568 1,885,429 480,817 2,366,246
Total funds carried forward 8,9 2,937,804 449,582 3,387,386 2,006,343 508,225 2,514,568
----- End of picture text -----

All of the charitable company’s activities are considered to be continuing.

The notes numbered 1 to 17 form part of these financial statements

There were no recognised gains or losses other than the result for the year

Watford New Hope Trust (trading as New Hope) Consolidated Statement Of Financial Activities (including income & expenditure account)

Consolidated Balance Sheet

At 31 March 2024

2024 2023
Charity Group Charity Group
Note £ £ £ £
Fixed Assets
Tangible assets
5
Current Assets
Current asset for sale
Debtors
6
Cash at bank and in hand		 1,249,567
675,000
222,275
1,366,203		 1,249,567
675,000
150,505
1,437,973		 1,291,472
266,098
1,080,242		 1,291,472
194,328
1,152,012
Creditors: Amounts falling due
within one year
7		 2,263,478
125,659		 2,263,478
125,659		 1,346,340
123,244		 1,346,340
123,244
Net Current Assets 2,137,819 2,137,819 1,223,096 1,223,096
Total Assets Less Current
Liabilities		 3,387,386 3,387,386 2,514,568 2,514,568
Net Assets 3,387,386 3,387,386 2,514,568 2,514,568
Funds
Unrestricted:
Designated
8,10
General funds
8,10		 2,294,569
643,235		 2,294,569
643,235		 1,395,123
611,220		 1,395,123
611,220
Restricted
9,10		 2,937,804
449,582		 2,937,804
449,582		 2,006,343
508,225		 2,006,343
508,225
Total Funds 3,387,386 3,387,386 2,514,568 2,514,568

These financial statements have been prepared in These financial statements have been prepared in

accordance with section 398 of the Companies accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with These accounts are prepared in accordance with the the special provisions of Part 15 of the Companies special provisions of Part 15 of the Companies Act relating to small companies and constitute the Act relating to small companies and constitute the annual accounts required by the Companies Act annual accounts required by the Companies Act 2006. These financial statements were approved 2006. These financial statements were approved

by the Trustees on 12th September 2023 and are by the Trustees on 12th September 2009 tha are

signed on their behalf by: signed ont eir! nar BN ~~Mr~~ Mr John Ford John ~~,~~ “ord ~~\n>~~

The notes numbered 1 to 17 form part of these The notes numbered 4 to 17 form part of these financial statements financial statements

Company Company number 03969063 number 03969063

Watford New Hope Trust (trading as New Hope) Consolidated Statement Of Financial Activities (including income & expenditure account)

Cashflow Statement

At 31 March 2024

----- Start of picture text -----
2024 2023
£ £
Cashflows from operating activities
Net income/(expenditure) 872,818 148,322
for the reporting period
Adjustments for:
Depreciation 46,177 47,881
Investment income (40,208) (10,328)
Gifted Asset (675,000) -
(Increase)/decrease in debtors 43,823 37,386
Increase/(decrease) in creditors 2,415 19,979
Net cash provided by / (used in)
operating activities 250,025 243,240
Cashflows from investing activities
Purchase of fixed assets (4,272) (8,531)
Investment income 40,208 10,328
Net cash provided by/(used in) investing 35,936 1,797
activities
Net increase in cash and cash equivalents 285,961 245,037
Cash and cash equivalents at 1 April 1,152,012 906,975
Cash and cash equivalents at 31 March 1,437,973 1,152,012
Analysis of cash and cash equivalents:
Cash in hand 1,437,973 1,152,012
Total cash and cash equivalents 1,437,973 1,152,012
----- End of picture text -----

Notes to the financial statements 2023/24

Notes to The Consolidated Financial Statements

1 Accounting Policies

Company information

Watford New Hope Trust is a private charitable company limited by guarantee, incorporated in England & Wales. Details of the registered office and principal address can be found on the reference and administrative information pages. Members gurantee to contribute an amount not exceeding £10 each to the assets of New Hope in the event of winding up.

Legal status

The liability of the members is limited.

Every member of the Charity undertakes to contribute such amount as may be required (not exceeding £10) to the Charity’s assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member, for payment of the Charity’s debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves.

If the Charity is wound up or dissolved and after all its debts and liabilities have been satisfied there remains any property it shall not be paid to or distributed among the members of the Charity, but shall be given or transferred to some other charity or charities having similar to the Objects which prohibits the distribution of its or their income and property to an extent at least as great as is imposed on the Charity by Clause 5 of the Memorandum and Articles of Association, chosen by the member of the Chairty at or before the time of dissolution and if that cannot be done then to some other charitable object.

Basis of accounting

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable

to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The trustees consider that sufficient income has been secured to cover all anticipated liabilities. The trustees are not aware of any material uncertainties which will restrict New Hope's ability to continue as a going concern and the financial statements have, therefore, been prepared on a going concern basis.

The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound.

Critical accounting judgements and key sources of estimation uncertainty

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The annual depreciation charge for tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Income

Income is recognised in the period in which New Hope is legally entitled to the income provided that:

Notes to the financial statements 2023/24

Legacies are recognised in the Statement of Financial Activities when notification of the legacy has been received and a reasonable estimate of the value of the legacy can be made. Donations and grants are recognised when the charity has been notified in writing of the amount. In the event that a grant or donation is subject to conditions, that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Expenditure

Expenditure is accounted for on an accruals basis, inclusive of VAT, which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories. Where these costs are attributable to more than one activity, they have been apportioned to the individual activities on the basis of the time spent by staff on matters relating to those activities. Head Office costs have been allocated on the basis of incoming resources and direct costs and have been apportioned to the cost centres of fundraising and publicity and individual projects within charitable expenditure in accordance with the requirements of the Statement of Recommended Practice.

Gifts in kind

Donated gifts and services are recognised as income when the charity has control over the item and the economic benefit can be measured reliably. Such goods and services are recognised on the basis of the value that the charity would have been willing to pay to obtain such services or facilities on the open market. In accordance with the Charities SORP (FRS 102) the time and commitment donated by the volunteers has not been recognised in the Statement of Financial Activities. Gifts donated for resale are included as income when they are sold due to the administrative difficulty in estimating the fair value of the goods.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease.

Tangible fixed assets

Individual assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

----- Start of picture text -----
Freehold buildings 2% per annum
straight line
Leasehold buildings over the length
of the lease
Equipment 25% per annum
straight line
Fixtures and fittings 10% to 25% per annum
straight line
----- End of picture text -----

Depreciation is calculated monthly and is included from the first full month after purchase. Freehold land is not depreciated. Other property interests are depreciated over the term of the lease of the property concerned or the relevant management agreement.

Cash and cash equivalents

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values but are not held for investment purposes.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the

Notes to the financial statements 2023/24

obligation can be measured or estimated reliably.

Financial instruments

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

Tax status

New Hope is a registered charity and therefore it is not assessable to corporation tax on any surplus charitable funds.

Watford New Hope Trust (trading as New Hope) and its subsidiary undertaking, New Hope Retail, for the year ended 31 March 2024. As permitted by section 408 of the Companies Act 2006, the Statement of Financial Activities of the parent company is not presented as part of these financial statements. The result of the charitable company alone for the year was a surplus of £872,818 (2023 : deficit £148,322). New Hope Retail has not carried out any trading during the year (2023: dormant).

Pensions

New Hope operates both a stakeholder pension scheme for employees, to which the employer does not make contributions and a group personal pension. The group personal pension is a defined contribution scheme and New Hope makes a 3% contribution where employees are also contributing to the group personal pension scheme. This scheme is managed by Source Pensions and the plan invests the contributions made by the employee and employer in an investment fund to build up over the term of the plan. New Hope has no liability beyond making its contributions and paying across the deductions for the employee's contributions.

Funds

Funds held by New Hope are:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

Restricted funds -these are funds which can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

The nature and purpose of each fund is explained further in the notes to the financial statements.

Group financial statements

The consolidated accounts incorporate those of

Notes to the financial statements 2023/24

2 Donations And Legacies

2024
2024
2024
2023
2023
2023
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
Grants 10,272
343,889
354,161
54,823
343,462
398,285
Legacies 66,198
-
66,198
38,210
-
38,210
Individual donations 944,662
63,616
1,008,278
149,995
47,411
197,406
Tax reclaimed 43,142
12
43,154
20,154
6,234
26,388
Other donations 239,392
13,955
253,347
155,834
26,123
181,957
1,303,666
421,472
1,725,138
419,016
423,230
842,246

Gifts in Kind

New Hope receives significant donations of food during the harvest period from schools and churches. In addition New Hope receives regular food donations from local companies including Costco, and Lidl. All food donations are included in the financial statements at the estimated value the charity would have paid for them. From time to time New Hope also received other gifts to assist in the operation of New Hope’s activities. This year the charity was gifted a property from a generous donor. The value of the house at the date of the gift was £675,000 and has been included in individual donations and in current assets. The property was sold after the year end to realise the value of the donation. The total amount of gifts in kind included in the financial statements is £809,575 (2023: 62,636).

Notes to the financial statements 2023/24

3 Charitable Activities

3a
Intervention		 2024
Unrestricted
£		 2024
Restricted
£		 2024
Total
£		 2023
Unrestricted
£		 2023
Restricted
£		 2023
Total
£
Housing Beneft 12,731
-
12,731
-
-		 -
Contracts 106,956
-
106,956
90,806
-
90,806
Other income -
-
-
Total Intervention 119,687
-
119,687
90,806
-
90,806
3b
Recovery
Housing Beneft 729,229
-
729,229
697,781
-
697,781
Ineligible charges 22,921
-
22,921
20,945
-
20,945
Contracts 379,834
-
379,834
254,423
-
254,423
Other income -
-
-
39,691
-
39,691
Total Recovery 1,131,984
-
1,131,984
1,012,840
-
1,012,840
3c
Prevention
Housing Beneft 145,146
-
145,146
94,417
-
94,417
Ineligible charges 6,314
-
6,314
4,002
-
4,002
Contracts 143,768
-
143,768
172,853
-
172,853
Total Prevention 295,228
-
295,228
271,272
-
271,272
Total charitable income
1,546,899
-
1,546,899
1,374,918
-
1,374,918

Notes to the financial statements 2023/24

4 Total Expenditure

2024
2023
Intervention
Recovery
Prevention
Fundraising
and commu-
nications
Retail
Head ofce
Total costs
Total costs
£
£
£
£
£
£
£
£
Staf costs 294,825
834,190
194,196
88,760
27,737
287,171
1,726,879
1,570,637
Other staf
costs		 371
148
1,632
139
-
82,305
84,595
60,291
RSL charges -
252,229
-
-
-
-
252,229
226,105
Premises
costs		 27,638
114,210
71,611
1,276
58,536
12,059
285,330
197,092
Ofce costs 2,230
3,593
2,419
7,835
5,018
3,632
24,727
28,175
IT costs -
-
-
-
-
5,887
5,887
4,258
Service user
costs		 52,835
120,431
14,979
-
-
-
188,245
133,759
Insurance 3,383
3,089
3,734
602
5,127
6,431
22,366
19,571
Depreciation 7,016
2,447
9,113
2,271
13,936
11,394
46,177
47,881
Professional
costs		 1,486
4,177
1,561
903
870
53,833
62,830
41,303
Other costs 294
1,120
504
7,486
174
8,627
18,205
19,661
Partnership
costs		 -
-
-
-
-
-
-
(12,712)
Head ofce
costs		 70,040
226,028
83,449
46,959
44,863
(471,339)
-
-
Total
460,118
1,561,662
383,198
156,231
156,261
-
2,717,470
2,336,021

Notes to the financial statements 2023/24

4 Expenditure (continued)

Staff Costs

2024
2023
£
£
Wages and salaries 1,302,348
1,251,393
Social security costs 109,096
100,337
Pension costs 26,864
25,649
Agency and security costs 288,571
183,175
Redundancy costs -
10,084
1,726,879
1,570,637

One employee earned more than £60,000, excluding company pensions (2023: one employee). Pensions costs for higher paid employees totalled £1,320 (2023:£770).

The full time equivalent number of staff employed by New Hope during the year, excluding trustees, are set out below. In addition around 200 volunteers helped during the year.

Employee Numbers

2024
2023
No.
No.
Direct charitable work 30 4
30 8
Fundraising and communications 2 7
2 7
Head ofce 7 9
8 4
Retail 1 0
1 0
42.0
42.9

Key Management

No trustee was remunerated during the year (2023: nil) and there were no trustee expenses during year (2023: nil).

The leadership team is considered the only key management of the organisation. Total remuneration and benefits paid to the leadership

team during the year was £175,615 (2023: £165,196). The leadership team consists of four employees; CEO, Deputy CEO and Head of Services and Head of Resources. In addition the charity engages the services of a financial consultant to carry out the role of Head of Finance.

Auditors’ remuneration:

----- Start of picture text -----
2024 2023
£ £
Audit 13,140 10,292
----- End of picture text -----

Governance costs:
Other services
Governance costs inlcuded in expenditure in note 4		 -
13,140
10,292
2023
£
2024
£
18,681
12,780

Notes to the financial statements 2023/24

5 Fixed Assets

Charity & Group
Cost		 Interests in
property
£
Plant and
machinery etc
£
Total
£
At 31 March 2023 1,834,198
350,087
2,184,285
Additions -
4,272
4,272
Disposals -
(7,589)		 (7,589)
At 31 March 2024
Depreciation		 1,834,198
346,770
2,180,968
At 31 March 2023 631,177
261,636
892,813
Charge for the period 24,380
21,797
46,177
On disposals -
(7,589)		 (7,589)
At 31 March 2024
Net Book Value		 655,557
275,844
931,401
AT 31 March 2024 1,178,641
70,926
1,249,567
AT 31 March 2023 1,203,021
88,451
1,291,472

The cost of plant and machinery includes donated assets valued by the trustees at £10,000 (2023: £13,940). All of the assets held by the charity are used for charitable purposes.

New Hope owns the freehold interest in the Manse, the Haven and 67 Queens Road. The charity’s interest in New Hope House represents costs of £171,768 which are fully depreciated. The title to the property is held by Salvation Army Homes and there is a charge registered on the title deeds at the Land Registry noting New Hope’s

interest. There is a management agreement between New Hope and Salvation Army Homes under which the charity undertakes the day to day management of the property. If the property is sold the charity is entitled to a 50% share in the sale proceeds. In the opinion of the trustees the amount to which the charity would be entitled is at least equal to the value at which the charity’s interest is included in these financial statements.

Interests in property includes: 2024
2023
£
£
The Manse 60,670
62,144
The Haven 219,632
225,964
Sanctuary Cluster conversion costs -
-
Purchase of Shop and ofces 502,053
510,366
HopeHomes 396,286
404,547
1,178,641
1,203,021

Notes to the financial statements 2023/24

6 Debtors

6 Debtors
2024
2024
2023
2023
Charity
Group
Charity
Group
£
£
£
£
Housing beneft debtors 32,668
32,668
17,225
17,225
Prepayments and accrued income 5,942
5,942
7,284
7,284
Other debtors 97,072
97,072
152,761
152,761
Tax recoverable 14,823
14,823
17,058
17,058
Intercompany account 71,770
-
71,770
-
222,275
150,505
266,098
194,328

7 Creditors

7 Creditors
Within one year 2024
2024
Charity
Group
£
£		 2023
Charity
£		 2023
Group
£
Accruals 86,124
86,124		 98,709 98,709
8 Designated Funds (Charity and Group)
31 March 2023
Income
£
£
Designated funds
Other creditors
39,535
39,535
125,659
125,659		 39,535
39,535		 24,535 24,535
125,659
125,659		 123,244 123,244
31 March 2024
£
31 March 2023
£		 Expenditure
£
Property 1,114,254
-
(18,688)		 1,095,566
HopeHomes 202,348
-
-
202,348
The Hub 50,400
902,803
-
953,203
Building repairs fund 25,302
10,000
(7,400)		 27,902
Watford Winter Shelter -
12,731
-
12,731
Women’s hostel
General unrestricted funds
Total unrestricted funds		 2,819
-
-
2,819
1,395,123
925,534
(26,088)		 2,294,569
611,220
2,243,282
(2,211,267)		 643,235
2,006,343
3,168,816
(2,237,355)		 2,937,804

Notes to the financial statements 2023/24

Designated funds - prior year 31 March 2022
Income
Expenditure
31 March 2023
£
£
£
£
Property 1,133,038
-
(18,784)
1,114,254
HopeHomes 202,348
-
-
202,348
The Hub -
50,400
-
50,400
Building repairs fund 15,302
10,000
-
25,302
Watford Winter Shelter -
Women’s hostel
General unrestricted funds
Total unrestricted funds		 2,819
-
-
2,819
1,353,507
60,400
(18,784)
1,395,123
531,922
2,000,713
(1,921,415)
611,220
1,885,429
2,061,113
(1,940,199)
2,006,343

Purposes of designated funds

Property - This comprises a sum set aside by the trustees to reflect the investment in property held by New Hope. The amount represents the net book value of property interests less any amounts held in restricted funds for specific properties.

HopeHomes - These funds were donated through a legacy and have been set aside to assist in the costs of purchasing property for the HopeHomes service.

The Hub - This represents amounts set aside to fund the development of a new Watford Hub.

Building Repairs Fund - This represents reserves set aside by the trustees towards the cost of major repairs to the properties in which New Hope has an interest.

Watford Winter Shelter - Funds raised through housing benefit allocated for the costs of future winter Shelters.

Women’s Hostel - The fund represents donations given in 2008-9 in memory of Janet Hosier. These funds are being held to fund the cost of a women’s hostel.

Notes to the financial statements 2023/24

9 Restricted Funds (Charity and Group)

----- Start of picture text -----
31 March 2023 Income Expenditure 31 March 2024
£ £ £ £
The Haven - capital fund 88,767 - (5,692) 83,075
The Haven - running costs 7,538 148,537 (149,501) 6,574
Emergency Accommodation 2,394 14,450 (14,444) 2,400
Street Outreach - 103,752 (103,752) -
Watford Winter Shelter - 85,000 (85,000) -
Recovery services 250 596 (596) 250
Cultivate - 10,700 (10,700) -
Tenancy Sustainment Team 30,000 11,445 (41,088) 357
Project Home 24,488 39 (4,438) 20,089
Rough sleeper support 6,615 - (1,122) 5,493
Household support fund - 42,831 (42,831) -
Chaplain 33,254 4,050 (20,879) 16,425
HopeHomes 310,543 60 (60) 310,543
Other restricted funds 4,376 12 (12) 4,376
508,225 421,472 (480,115) 449,582
----- End of picture text -----

Restricted funds - prior year

----- Start of picture text -----
31 March 2022 Income Expenditure 31 March 2023
£ £ £ £
The Haven - capital fund 94,459 - (5,692) 88,767
The Haven - running costs 1,396 108,716 (102,574) 7,538
Emergency Accommodation - 8,954 (6,560) 2,394
Street Outreach - 100,943 (100,943) -
Watford Winter Shelter - 36,082 (36,082) -
Recovery services - 4,779 (4,529) 250
Cultivate - 18,978 (18,978) -
Tenancy Sustainment Team - 44,779 (14,779) 30,000
Project Home 17,308 16,000 (8,820) 24,488
Rough sleeper support 7,363 - (748) 6,615
Household support fund - 27,684 (27,684) -
Chaplain 45,372 3,250 (15,368) 33,254
HopeHomes 310,543 50 (50) 310,543
Other restricted funds 2,998 1,000 (1,000) 4,376
480,817 423,230 (395,822) 508,225
----- End of picture text -----

Purposes of Restricted funds

The Haven capital fund - This represents funding provided for the work carried out at the Haven. The provision for depreciation of the building is being charged to this fund.

Haven running costs - Various donations towards the general running costs for the service.

Emergency Accommodation - Donations to cover the costs of running the emergency accommodation within our Sanctuary builiding.

Street Outreach - Funds provided by Watford Borough Council to provide a an outreach service to those rough sleeping in Watford.

Notes to the financial statements 2023/24

Watford Winter Shelter - Funds provided by Watford Borough Council and to support accommodation provided during severe weather conditions.

Recovery Services - Donations received to support the work carried out at the recovery services.

Cultivate - Donations and grants received to support the work carried out by the Cultivate team.

Tenancy Sustainment Team - Donations received towards the cost of staffing for the team. Funds carried forward include a grant from Garfield Weston to support the work of the team.

Project Home - donations provided to run the Project Home scheme, supplying those moving from rough sleeping or homelessness to indipendent accommodation. This includes deposits, furniture and white goods.

Rough sleeper support -Financial assistance given to help the entrenched rough sleepers with individual support.

Household Support Fund - Represents funding from Hertfordshire County Council towards food, white goods and bedding. Funds were also provided to assist with the rental costs of service users who were not eligible for housing benefit.

Chaplain - Grants received to pay for a chaplain to support the wellbeing of staff and service users.

HopeHomes - Reciept of a legacy in 2015 to provide accommodation to those who have experienced homelessness. One property has been purchased and the remaining funds are held to purchase additional accommodation.

10 Analysis of Net Assets between Restricted and Unrestricted Funds

Charity and Group

Charity and Group
Tangible fxed
assets
£
Cash at bank
and in hand
£
Net current
assets/
(liabilities)
£

Total
£
Haven Support Centre - capital 83,075
-
-
83,075
Other restricted funds -
366,507
-
366,507
83,075
366,507
-
449,582
Designated funds 1,095,566
1,199,003
-
2,294,569
General unrestricted funds 70,926
(127,537)		 699,846
643,235
1,249,567
1,437,973
699,846
3,387,386

Prior year comparatives

Tangible fxed
assets
£
Cash at bank
and in hand
£
Net current
assets/
(liabilities)
£

Total
£
Haven Support Centre - capital 94,459
-
-
94,459
Other restricted funds -
386,358
-
386,358
94,459
386,358
-
480,817
Designated funds 1,133,038
220,469
-
1,353,507
General unrestricted funds 103,325
300,148
128,449
531,922
1,330,822
906,975
128,449
2,366,246

Notes to the financial statements 2023/24

11 Pensions

New Hope operates a Stakeholder Pension Scheme for all employees but does not contribute to the pension scheme on behalf of its employees. A group personal pension scheme, a defined contribution scheme, is also offered. New Hope pays a matched contribution of 3% for all employees within the scheme. The contributions payable by the charity charged to income and expenditure amounts to £26,864 (2023: £25,649). A payment of £266 is included in creditors at 31 March 2024 relating to the employer and employee contributions (2023: £209). Pension costs have been allocated based on the member of staff to whom the cost relates and the service they work in.

16 Related Party Transactions

New Hope Retail Ltd, a wholly owned subsidiary, gift aids all profits to New Hope. The total gift aid donation relating to 2024 is £Nil (2023: £Nil).

New Hope Retail was dormant during the year and there were no payments from New Hope Retail to New Hope (2023: £nil). The total amount owing from New Hope Retail Ltd at 31 March 2024 to New Hope is £71,770 (2023: £71,770).

Donations received from trustees and other charities for which trustees act totalled £13,055 (2023: £10,710) during the reporting period.

12 Contingencies

There are no contingent liabilities as at 31 March 2024 (2023: none).

13 Capital Commitments

There are no capital commitments as at 31 March 2024 (2023: none).

14 Ultimate Controlling Party

There is no ultimate controlling party.

15 Trading Subsidiary

New Hope Retail Ltd, the charitable company’s trading subsidiary (Company number: 7667185) was incorporated on the 13 June 2011. New Hope Retail Ltd began to operate during 2011/12. The subsidiary’s financial statements can be obtained from the operational address on page 3 of these financial statements.

The company was established to operate retail opportunities on behalf of New Hope. New Hope Retail Limited is a company limited by guarantee and the only member is New Hope. There are two directors, one member of the board of trustees of New Hope and the Chief Executive of the New Hope.

New Hope Retail ceased trading on 31 March 2019 and remained dormant.

Notes to the financial statements 2023/24

17 Operating Lease Commitments

At 31 March 2024 New Hope had total commitments under non-cancellable operating leases as set out below:

Group & charity

Group & charity
2024
2024
2023
2023
Land and buildings
Other items
Land and buildings
Other items
Operating leases which expire: £
£
£
£
Within one year 21,125
8,827
21,125
3,680
Within two to fve years 10,667
10,468
18,667
3,326
In more than fve years -
-
-
-
31,792
19,295
39,792
7,006