Registered Company Number: 4346286 Re ort of the Trustees and Dirertors and Financial Statements for the ear ended 31 March 2024 for Ho e Internatlonal Develo ment en
Ho e International Develo ment Index to the Flnancial Statem nt rthe ear ended 31 March 20 Company Information Report of the Trustees and Dlrectors Independent Examlnerfs Report ststement of Financial Activities Balance Sheet Notes to the Financial Statsments 9-14
Ho e Internatlonal Develo ment ent Com an Informatlon for the ear ended 31 March 2024 Dlrertors and Trustees: R S Armstrong C M Poulson D M Newport S L Paton B K Te5iS5a Secretary: C M Pou150n Registered Office: 125 West Hill Road Wandsworth London SW18 5HN Registered Company Number: 4346286 Registered Chèrity Number: 1094573 Bankers: The Co-operative Bank P.0. Box 250 Skelmersdale WN8 6M Independent Examiner. J Howard FCA Azet5 UK 2. Floor, Aegis House 45 King William Street London EC4R 9AN
e International Develo ment A ort of the Trustees ar ended 31 Mar¢h 2024 en for the The trustees. who are also directors of the charity for the purpose5 of the Companies Art 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provlsions of Accounting and Reportin8 by Charities: Statement of Recommended Prattice applicable to charitles preparing their accounts in accordance with the Finanrial Reporting5tandard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2015). OBJEcfivES AND AcfiviTIES FOR THE PUBLIC BENEFIT Objertives and aims The objective5 of the charty are as follows: HOPE International Development Agency UK works wlth communities in extreme poverty to bring comprehensive transformation. We provide access to clean water - an essential basic resource- equip and empower men. women and children with traininE in sanitation and hygiene- and strengthen livelihoods through women's 5elf-help groups, and environmental protection and food security measure5. Significant Artlvltles 2023124 Thanks to our generous supporters and a variety of Trusts and Foundations. HOPE UK had another very successful year. once again exceeding the previous year's fundraising incorne. In total, in 2023124 HOPE UK r?ised £172.719 and was able to support two ftjrther water. sanitation, livelihood skills and environmental protettion projetts in the Gofa Zone of the South Ethiopia Regional State (about 280 miles from the capital Addi5 Ababal. HOPE UK granted £160,000 to HOPE Ethiopia, an increase of 18Y. from 2023. This covered the final £50.000 of the budget for the Uba Dama project (the initial £84.000 wa5 transferred in March 2023). This allowed the projett to commence as planned in July 2023. brin8ing clean water access. health education, livelihood ski115 training and environment resilience building to 1.812 men. women and children. In addition. HOPE UK grarTrted the first two instalments totaling £IIO,000 of the costs for the Tsito Tife project which started in mid-2024. This project will incorporate the same five components, tfan5formin8 the future of 1.632 communtly members. This year there were no additional grants towards HOPE work in Cambodia or Myanmar. Financial Breakdown In 2023124, HOPE UK5aw another inuea5e in income from 8rants, with 52% of Its income comingfrom eleven dlfferent Trusts and Foundation5. Seven of these Trusts had supported our projects in the past and four were new funders of HOPE'S work. Of the new funders. this was the first year we were awarded institutional fundin& which was a grant of over £50,000 towards the Tsito Tife projett. This funding wa5 a significant boost to our income. As in previou5 years, the Big Give Christmas Campaign and Global Giving's Giving Tuesday Campaign were helpful avenues of financial support from donor5 in 2023, with donations totaling £38.671 from the two matched funding campaigns, accounting for 22% of our annual income. HOPE also had a £12,000 donation In Februaryfrom a generous HOPE 5UPPOrter. HOPE had another monthly donor start giving thls year, increasing the number to 36 indlvlduals. providing regular income stability, contributing to over £20,000 of our annual income {or 12%). There were a few events that raised money for HOPE this year, including two Carol Singing evenings. Once again, Run for H20 took place, this year involving four runners and St Bonaventure's Primary School in Bristol. The runners attempted to run 110 mile$1178 km) throughout the month ofjune, 50metlmes runningwith others, but most often alone. Thls distance was significant as It is the same distan two famllie5 in the Uba Dama community covered to Sour water for their personal use during that same month. Pupils from St Bonaventure's Primary School collectlvely ran the same distance acr05S their year group5. Wonderfully, the four runners and the puplls of St Bonaventure's Primary 5th001 ratsed a total of £6,141 through the generosity of sponsors. Other income was received from a UK-based church, a donation from Terracycle for recy¢ling plastic pen5 and Easy Fundraising. We also had a donation from a recruitment company that gave a donation to HOPE as their nominated charity which. together with two Small corporates, totaled £S.000.
Our costs Inon*rant expenditure) of £11,193 this year included fund5 to pay for our Fundraiser to travel to Ethiopia in January to visit the HOPE Ethiopia staff and projert sites. Travelling with one HOPE UK supporter and timing the trip to cross paths with HOPE Japan staff proved to be fruitful, especially as our Fundraiser had not vislted HOPE implementation sites for nine year5. Still, admin cost expenditure was incredibly modest at just 6.4% of total donations. In summary, the generosity ofour supporters has allowed HOPE UK to continue to make significant development investments in two rural Ethiopian communities through clean water access and its related benefit5. For this. we are incredibly grateful to our supporter5. FINANCIAL REVIEW Reserves policy The Trustees have reviewed the reserves of the charlty. The trustees, pollcy15 to maintain reserves at the minimum level needed to meet known expenditure commitments in the next three months, in order to maximise the grants made to HOPE overseas. The trustees consider that the current level of reserves in the nrestritted and restrirted funds is adequate for this purpose. All other funds raised by the organisation are transferred to HOPE partners overseas Iprinupally in Ethiopial, as funds allow, usually twice a year but with additional ad hoc transfer5 a5 required. Principal funding sources The vast majority of funding during the period was donation5 from Indlviduals and organisations. A small amount was received from the sale of decorations and gifts. srRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by itsgoverning document, a deed of trust. and constitutes a limited comp3ny. limited by8uarantee, a5 defined bythe Companies Act 20Q6. Recruitment and appointment of new trustees BK Tl55a was appointed on the 03/1112023 and CJ Haywood resigned on 18106/2024.
e Internatlonal Develo ment A Re ort of the Tru ees for the ear ended 31 March 2024 enc Related partles The objeclives of the charity are conslstent with those of its partner or8anisation, Hope International Development Agency Icanadal, and there Is a considerable degree of interdependence between the two ¢haritie5. As the Head Office for Hope as a whDle. the Canada office is responsible for overslght and governance of the Ethiopia portfolio which is wholly manaEed and run by Hope International Development Agency Ethiopia. Hope International Development A8enLy Ethiopia is re8iStered with the Ethiopian government as an official non-government organisation. Rlsk management The trustees have a duty to Identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Ho e International Develo ment ort of the Trustees ear ended 31 March 2024 en for the REFERENCE AND ADMINisfRATIVE DEfAILS Registered Company number 4346286 IEnEland and Wales) Registered Charity number 1094573 Registered office 125 West Hill Road Wandsworth London 5W18 5HN Trustees R 5 Armstrong C M Poulson D M Newport S L Paton B K Tesissa Company Seiretary Mr5 C M Poulson Statement of trusteeg responsibilities The trustees (who are also director5 of the charitable company for the purposes of company lawl are responsible for preparing theTrustees' Report and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the State of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitsble company for the year. IR preparing these financial statements. the trustees are required to: selett suitable accounting policies and then apply them con515tentty,' ob5etve the methods and principles in the Charities SORP 2015 IFRS 102),. make judgements and estimate5 that are reasonable and prudent- stste whether applicable UK Accounting Standards have been followed. subject to any material departures disc105ed and explained in the financial statements. prepare the accounts on the going COnr ba515 unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting record5 that dSsclose wlth reasonable accuracy at any time the finallcial posltion of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the Statement of Recommended Practice= 'A¢counting and Reporting by Charities, and in accordance with the speclal provisions of Part 15 of the Ccmpanies Act 2006 relating to smaller entities. Approved by the Board and signed on Its behalf. ON BEHALF OF THE BOARD: R S Armstrong - Trustee and Chair Date- 111121 ioZLtr
Inde endent Ex mlnerfs Re ort to the Trustees of Ho e International D efit en I report to the charity trustees on my examinètlon of the account5 of the charitable company for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the company land abo its directors for the purpose5 of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 ACVI. Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Att and are eligsble for independent examination. I report in respect of my examination of your companvs accounts as carried out under section 145 of the Charities Att 2011 {'the 2011 Act'l- In carrying out rny examination I have followed the Dirertions given by the Charity Commission under Section 1451511bl of the 2011 Act. Independent examiner's Statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe that in any materlal respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or the accounts do not accord with those records- or the accounts do not comply with the accounting requirements of sedion 396 of the 2006 Aci other than any requirement that the accounts Bive a 'true and fair view which is not a matter considered as part of an independent examination,. or the account5 have not been prepared in accordance with the methods and principles of the Statement of Recommended practi for accountin8 and reporting by charltles applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concern5 and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reathed. John HoTward FCA Chartered Accountant Azets UK 2. Floor, Regis House 45 King William Street London EC4R 9AN Date: l& Iy-
Ho e Intern lo al Develo ent of Flnancial Activities Indudln Income and Ex forthe ear ended 31 March 2024 ment A State endlture A ¢ount Note Unrestrirted Funds Restricted Funds Total 2024 Total 2023 Incomln8 Resour¢e5 Voluntary income: Donations, grants and legacies Events and initiatives Gift ald 34.050 123.758 5.513 2,944 157,808 5.522 9,389 122.250 19,890 7.612 6,445 Total Incoming resour$ 40,504 132.215 171719 149,752 Resources Expended Raislng Funds 9.898 1,295 11,193 10,814 Charitable artlvlties: Grants to HOPE projects Governance costs 160.200 160,200 136,044 163 13 Total resources expended 9.911 161.495 171,406 147,011 Net loutgolng}Ilncomlng resour before transfer5 30,593 129,2801 1.313 2.741 Transfers {30,3551 30,355 Net {outgoingl/incomin8 resources after transfers L313 2,741 Total funds brought fonvard 5,688 50 5,738 2,997 Total fund5 carried forward 5.926 1,125 7,051 5.738 The note5 form part of these financial ststements
Ho eln rnatlonal Develo Balance Sheet as at 31 March 20 Com an number- 4346286 en At 31 March At 31 March 2024 2023 ote5 Current assets Stock Debtors Cash at bank 43 2.389 4.005 6,427 1,309 7,736 6,437 Current liabiltties Other creditors 685 699 Net Current assets and Net assets 7,051 5,738 Income Funds Restricted fijnds Unrestricted fLÉnds 1,125 5.926 50 5,688 12 7,051 5,738 The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financi21 statement5 for the year ended 31 March 2024 in accordance with section 476 of the Companies Att 2006. The director5 0cknowledEe their responslbilities for.. al Ensuring that the company keeps accounting records which comply with section 386 and 387 of the companies Act 2006 and bl Preparing financial statements whith give a true and fair view of the statement of affairs of the company as at the end of each financial year and of its surplus ur deficit for each financial year in accordance with the requirements of settions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the company. The flnanci31 statements have been prepared in accordance with the speclal provisions of Part 15 of Cornpanies Att 2006 relating to Small companies. The financial statements were approved by the Boards of Trustees on 22 November 2024 and were signed on its behalf by: R S Armstron8- Chalr and Trustee The notes form part of these f]nandal statements
Ho e International Develo ment en Notes to the Flnancial Statements for the ear ended 31 March 2024 Accounting Policies (a) General Information and basis of preparation Hope International Development Agency is a company limited by guarantee in the United Kingdom. The addres5 of the registered office is given in the charity information on page l of these financial Statements. The nature of the charity's operations and principal activities are set out on page 2. The charitable company constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 IFRS 1021 Issued on 16 July 2014, the Financi21 Reporting Standard applicable in the United Kingdom and RepLtblic of Ireland IFRS 1021. The Charities Art 2011, the Companies Act 2016 and UK Generally Accepted Prattice as it applie5 from l January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which 15 the functional currency of the charity. The slgnificant accounting policies applied in the preparation to these flnancial statements are set out below. These policies have been consistently applied to all years presented unle55 Otherwise stated. There has been no change to the a¢¢ounting policies (valuation rules and methods of accounting) since last year. (b) Fund accounting General funds are unrestritted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity foi particular purposes. The cost of raising and admirki5tering such funds are charged agalnst the specific fvnd. The aim and use of each restrirted fund is set out in the notes to the financial statements. (r) Incoming resource5 All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been meL the amount can be measured reliably and it is probable that the income will be received. Donations and legacies are recognised in the financial statements when the charity is convinced that there is entitlement to the income. there is certainty of receipt and the amount In question is measurable. Donated facilities are Included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Ho e Internatlonal Develo ment Notes to the Financial Statements forthe earended 31 March 2024 en Ac¢Duntin8 Pollcles- contlnued Id) Resour¢es expended Expenditure is recognised when a liabilty is incurred. Grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable. Costs of generating funds are those costs incurred in attratting voluntary income. Charitsble activities include expenditure assodated with the projects 5UPPQrted by the charity and Indude both the direct C05t5 and support costs relating to these activities. Governance costs include those incurred in the governance of the charity and its a55ets and are primarily associated with constitutional and statutory requirements. (e) Stock Stocks are stated at the lower of c05t and net realisable value. (fj Debtors Other debtor5 are recogni5ed at the settlement amount due. (g) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term hlghly liquid investments with a short maturity of three months or less from the date of acquisition or openin8 of the deposit or slmilaT account. (h} Credltors Creditor5 are recognised when thefe is a present oblt8ation 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 obligation con be measured or estimated reliabfy. Other creditors and accruals are recognised at their settlement amount (i) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are instially recognised at transaction value and subsequently measured at their settlement value. ti) Foreign currencies Transartion5 in foreign CL¥rrencies are recorded at the rate ruling at the date of the transaction. U) Judgements and key sour5 of estimatlon uncertainty In the application of the chariws accounting policie5, the trustees aye required to make judgements, estimates and assumptions about the carrying amoLSnt of assets and liabilities that are not readily apparent from other sources. The estimates and a550ciated assLtmptions are b35ed on historical experience and other fattors that are considered to be relevant. Artual results may differ from these estimates. The estimates and undeTlyin8 assumptions are reviewed on an ongoing basis. Revisions to accountlng estirnated are recognised In the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future perlods where the revision affects both current and future periods. io
Ho e International Develo men en Notes to the Financial Statements for the r ended 31 M r h 2024 Voluntary income Unrestrkted Funds Restrlcted Funds 2024 Total 2023 Total Committed {regularl giving Donations, grants & legacie5 19,445 14,605 L089 122,669 20.534 137.274 20,310 101.940 Events and initiatives.. Christmas Carols Christmas Decorations Run for H20 Pen Recycling Gift Card5 Walk on Water 167 167 27 13.975 5,150 96 loo 5,150 96 i( 715 3,337 1,836 th 20 Anniversary Events Gift aid 6,445 2,944 9.389 7.612 40.504 131215 172.719 149.752 Ratsing Funds 2024 2023 Fundraising costs Administration Postin& printing and reproduction Travel and subsistence costs Trainlng 1,398 8.123 90 1551 2,450 8.104 135 90 35 11,193 10,814 Restricted costs included in the above re travel to Ethiopia 1,295 647
Ho e Internatlonal Develo ment A Notes to the Financial Statemen for the r ended 31 Mar¢h 2024 ene Detsils of Charitable Adivitles 2024 2023 Grant fundlng HOPE Ethiopia HOPE Cambodia Bank tharges 160,000 136.000 200 24 160.200 136,034 Restricted Unrestrlcted Total HOPE Ethiopia HOPE Myanmar 122,683 37,317 160,1)JO 122.683 37317 160.000 Grant Funding 2022/23 Re5trlrte(l Unrestricted Total HOPE Ethiopia HOPE Myanmar 119,127 16.873 136,OCKI 119.127 16.873 136,000 Grant payable The charitable activities are undertaker¢ on behalf of the charity by partner organisations. The grants sent to Hope Ethiopia were used to fund clean water supplies and their management. promotion of safe sanitation and hygiene prattice, establishment and support to women's self-help groups, as well as environmental protection and food Security activities amongst communities in Southern Ethiopia. All Hope's activities in Ethiopia are done in full consultation and partnership with the district authorities on the basis of a signed Memorandum of Understsnding. Governano Costs 2024 2023 Companies House fees Companies House filing penalty 13 13 150 13 163 Azets UK very kindly provide their servites without charge. In 2023/24 and 2022123, all of the governance costs related to unrestritted expenditure. 12
Ho e International Develo ment A Notes to the Financial Statements for the ear ended 31 March 2024 en stock 2023 Goods for resale 43 Debtors 2024 2023 Other debtors 6.427 2,389 6,427 2,389 Creditors due within one year 2024 2023 Other creditors 685 699 699 io. Trustees. remuneration and expenses No Trustees received nor waived any remuneration during the year12023124.' £nill. They are entitled to claim expenses for attending meetings and duties directly related to their duties as trustee. In 2023123 £nil {2022123 £nill was claimed by trustees in relation to travel expenses. ii. Related Party There are no related party transactions during the period12022123: £nill 13
Ho e Interna ional Develo ment en Notes to the Financlal Statements for the ear ended 31 March 2024 12. Movement In fund5 for the year Opening Balance Incomlng Resources Rewurces Ex ended C105in8 Balance Transfer Hope InVI- Myanmar Hope InVI- Ethiopla 50 1,075 131,140 (161,4951 30,355 Total Restricted Funds 50 132,215 (161.495) 30,355 L125 Unrestricted funds 5,688 40,504 (9.9111 130.3551 5.926 Total Funds 5.738 172.719 (171,406) 7.051 12a. Movement in funds for the prior year Opening Balance Incomlng Resour$ Resources Ex ended Closing Balance Transfer Hope InYI- Myanmar Hope Inyl - Ethiopia 50 119,128 50 (136,6811 17,553 Total Restricted Funds 119,178 {136.6811 17.553 Unrestricted funds 2,997 30.574 110,330) 117.5531 5,688 Total Funds 149,752 (174.011) 5,738 14