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2021-06-30-accounts

REGISTERED COMPANY NUMBER: 04789322 (England and Wales) REGISTERED CHARITY NUMBER: 1099685

Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2021

for

Wings of Hope

Williams Chartered Accountants Jade House

67 Park Royal Road London NW10 7JJ

Wings of Hope

Contents of the Financial Statements for the Year Ended 30 June 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 23
Independent Examiner's Report 24
Statement of Financial Activities 25
Balance Sheet 26 to 27
Notes to the Financial Statements 28 to 33
Detailed Statement of Financial Activities 34

Wings of Hope

Reference and Administrative Details for the Year Ended 30 June 2021

TRUSTEES Mrs Rajni Sriram FRSA Dr R Sri Ram PhD FRSA Prof Lord Bhikhu Parekh Ms Dawn Butler, MP REGISTERED OFFICE Supreme House 12 Iron Bridge Close Great Central Way Neasden London NW10 0UF

REGISTERED COMPANY 04789322 (England and Wales) NUMBER REGISTERED CHARITY 1099685 NUMBER INDEPENDENT EXAMINER Williams Chartered Accountants Jade House 67 Park Royal Road London NW10 7JJ

Page 1

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

The trustees, of which Mrs R Sriram and Dr Sri Ram are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of 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) (effective 1 January 2015).

Organisational structure

The power to appoint new trustees is vested in the current board.

The chair of trustees is responsible for the induction of any new trustee, which involves awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach to the charity. The trustees meet at various times in the year to consider which charities receive their support.

OUR MISSION

We believe that young people have the power to change the world for the better.

The Wings of Hope Children's charity was founded upon, and continues its work, on three pillars:

  1. Life Skills and Education

  2. Young People and Children

  3. International Development Fostering Global Kinship

We believe that if young people are given the right guidance, skills-training and core, holistic education they can be enablers of positive change in their communities, workplaces, and countries.

Life skills go beyond core academic subject areas and focus on qualities and mindsets that can assist the development of a person throughout life -whatever mental, professional, or personal challenges they might face. Notwithstanding that, we believe that core academic subjects in literacy, numeracy, the arts and science are vital for underprivileged children around the world to have access to.

We believe that we are all global citizens, and if young people from all backgrounds, religions, sexual orientation, race, and countries, can be connected through a sense of global kinship to support each other, then our world would be a more enriched, stable, and peaceful place.

"Education is a fundamental right and the basis for progress in every country. Parents need information about health and nutrition if they are to give their children the start in life they deserve. Prosperous countries depend on skilled and educated workers. The challenges of conquering poverty, combatting climate change and achieving truly sustainable development in the coming decades compel us to work together. With partnership, leadership and wise investments in education, we can transform individual lives, national economies and our world." UN Secretary General Ban-Ki Moon

"No country has succeeded if it has not educated its people, not only is education important in reducing poverty, it is also key to wealth creations" (UNESCO)"

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Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

OBJECTIVES AND ACTIVITIES OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT

1. Wings of Hope Achievement Award Programme for 14- 20 year olds in the UK and Europe

2. Fundraising for the free education and educational support of children in impoverished circumstances around the world, with a continued current effort in India (and Malawi)

3. Continual life skills training for all young people taking part in any of our projects, globally (school going ages to further education)

ACTIVITIES

Wings of Hope Achievement Award

As a UK registered charity our focus is to work with UK and European young people from all backgrounds ( 14-20 year olds ) on core life skills , including building confidence, social responsibility, leadership, team spirit, resilience, mental wellbeing, organisation, digital excellence and community spirit, through the Wings of Hope Achievement Award programme (WOHAA). To date, approximately 39,045 students have taken part in WOHAA, over 18 years, from over 562 schools in the UK.

WOHAA enables young people to run socially-minded enterprise projects in their local communities to raise funds and awareness for their counterparts in less-privileged circumstances in developing countries. WOHAA impacts communities both locally and globally.

The WOHAA programme has been carefully designed and improved over 18 years , through trusted partnerships with leaders in education (teachers, mentors, university professors, community leaders, senior politicians and businesses), young people (secondary school, gap year, university graduates), and parents and guardians . It has been designed with the welfare and enrichment of the student-participants in mind, along with the prospect of the programme being captivating, challenging, and fulfilling. It is unique in that it gives students the reins to run their projects, in whatever creative ways they want, but with the guidance from trained mentors and professionals.

The "win-win" model is based on:

OVERALL BENEFITS TO THE PUBLIC

Page 3

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

ADMINISTRATION

Our objective is always to keep our overheads and costs low . Many of our programmes are run by volunteers, university internships (funded by grants, and bursaries to the charity), and unpaid senior advisors. As much of our core work is focussed around face-to-face support, we run a large number of events to fulfil our objectives. We work with suppliers and partners to offer discounted rates or who provide pro bono help for hiring of venues, access to digital programmes, preparation of printed materials, and for catering.

We rely on volunteer mentors to coach, inspire, and support our young people (at school assemblies, our workshops, online/phone/email support, mentoring days, work experience placements, work shadowing, internships, and university open days).

The work with the children at our international projects is carefully monitored through trusted local educational professionals on the ground. No funding is given without impact assessments being carried out e.g. cost reports, budgets, risk management reports, future-proofing analysis, cash flow risks etc for us to assess and monitor. The charity patrons/ trustees visit the projects regularly.

As we look to scale our work, we are dependent on improvements to our digital presence and are grateful for the support we have received for our website upgrade and database administration.

We are seeking further support from donors (private, corporate, and grant making funds) to support and sustain our growth in these core activities.

In addition we want to place a greater focus on youth engagement for our natural environment as the main custodians of the future of our planet. For this we are seeking partnerships with organisations (grassroot and national) to support students' engaging with sustainability in a meaningful manner - e.g. planting trees, reducing consumption of single-use plastic, education around energy, and water consumption, how to repair, and reuse items. Etc.

Page 4

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

ACHIEVEMENT AND PERFORMANCE

The Wings of Hope Achievement Awards (WOHAA) - positive impact in numbers this year

ONGOING ROLLOUT OF INNOVATIVE SKILLS TRACKER

Following the success of the WOHAA Skills Tracker introduced two years ago for students to assess their development in soft skills over the course of the WOHAA programme, we decided to continue with this assessment this year. The results are published below. The methodology was based on research into what soft skills students would most benefit from in their later lives (working and non-working) whilst also benefiting their WOHAA experience directly. All participants self-assessed themselves before and after the programme on a scale of 20 metric, which are summarised below.

Overall the students self-assessed their skills and noted that after undertaking the WOHAA programme they saw:

Page 5

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

These are very real changes in how students perceive themselves which further improves their self-confidence as they navigate through exams, further education and into the world of work. It shows a sense of levelling up the skills gap that can often be found between the less privileged students and those with more resources available

From September 2020, mentoring of all groups of students were held on a regular basis by the Wings of Hope team as well as volunteers of mature students(Masters & PhD) from London Business School. Our team taught them how to manage projects by going through the Who, What, How, Where, Why and When model. Effective team communication, marketing, leadership styles, how to be sustainable during your project, and how to manage money in the projects. Students learnt a lot from these sessions and were asked to report back on a regular basis with their mentors.

WOHAA rewards endeavour, creativity, and determination. There are 6 awards which are presented to students, with the overall winning team/ individual being able to have an expenses-paid trip to visit and teach at the school in India.

This year we had a variety of projects conducted. Mostly held online, however, students did manage to do some live events

These included

Surveys, and Metrics Gathered

Would you recommend WOHAA to your friends?

Skills learnt during their programme (% of cohort who stated these reasons):

Why did participants take part in WOHAA?

Page 6

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

TEACHER TESTIMONIALS

Name Ms Emma Brown

Role Careers Co-Ordinator

School Brentford School for Girls

Quotes All members worked incredibly hard to overcome their challenges at the time of COVID. I was particularly impressed by their online after school club.

Name Dr Dan Casey

Role Teacher of Geography and House warden

School Oxford International College

Quotes Being House warden at a boarding house where most of the team resides, I have seen the teams first-hand, from marketing campaigns , to countless nights spent on creative ideas, through to cooking for their events.

Name Miss K Cook

Role Head of Year 10

School Royal Masonic School for Girls

Quotes The team worked effectively by dividing responsibilities and took charge of the events. They learnt how to project manage, problem solve and work together as a team. Each member demonstrated leadership skills and feel their communication skills have been enhanced.

Name Miss K Waller

Role Head of Year 9

School Slough and Eton Business and Enterprise College

Quotes During this experience the team has learnt new skills ranging from team skills to individual skills. They have improved their public speaking skills and furthermore have enhanced their organizational and time management skills.

Name Ms Charlotte Bentham Role Head of Year 12

School St. Olave's Grammar School

Quotes It has been an honour for Team Shockwave to take part in this programme. They have learnt financial, communication and careful planning of events. But arguably they have learnt the art of resilience, not to give up and preserve till the end.

PARENT/ GUARDIAN TESTIMONIALS

Name Pam Purewal Team Anonymous Hope

School Brentford School for Girls

Quotes My daughter Pavan has worked so hard for these events and has gained more confidence as she has interacted with teachers and members of her group. She has learnt good team working skills.

Name Mrs Hoor Fatima Team Here 4 All

School Brentford School for Girls

Quotes Over the course of this project I have understood how my daughter has developed certain skills and how the team stayed positive during the pandemic and about the importance of looking after others in need. These skills have helped her grow as a person and I am hopeful she will continue to practice them even after completing WOHAA.

Name Tali and Jonathan Ross

Team Kindness School JFS

Page 7

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

Quotes Through his WOHAA campaign, Ben has gained experience working part of a team and developed his leadership skills through taking responsibility. Through his Instagram account he learnt skills to develop a very effective online presence. The WOHAA journey, developed Ben's sense of entrepreneurship and he really enjoyed the challenge and competition.

Name Charlotte and Elliot Benjamin

Team Kindness

School JFS

Quotes During WOHAA we have seen Zac's overall skills. Zac has grown more sympathetic for the less fortunate. We have seen a massive improvement in Zac.

Name Chung Wai Lam Team 99 Percent

School Oxford International College

Quotes I am very happy that Samantha joined this programme, we have seen her growth and gained from it. Although we have not been able to join her, due to distance between UK and China, we knew how hard she worked despite a very busy time table at College. We were particularly impressed by their Oxford rubbish picking event.

Name Yogandhar Boddu Team Peacekeepers School Queen Elizabeth's School for Boys Quotes Sujan has benefitted a lot from WOHAA programme and has been able to develop of skills like communication and teamwork. From a series of remote quiz nights, he developed presenting, setting up and marketing skills.

Name Mr. Varkala Team Peacekeepers

School Queen Elizabeth's School for Boys

Quotes Throughout the events, we witnessed Akshit gain an outstanding improvement on his creativity and innovative thought process right from planning, and organizing event and effectively working as a team. We are very pleased with the whole program.

Name Ramona Mustatea

Team S &E Elites

School Slough and Eton Business Enterprise College

Quotes I write this on behalf of my daughter Karina, and it has been an honour to watch her accomplish goals, she set for herself throughout this project. She has developed a larger understanding of finance and how to effectively prioritise tasks and accomplish them without procrastination, or doing the bare minimum. Thank you for this opportunity.

Name Mrs Rehman Team Super Six School Sutton High School

Quotes As a parent it is wonderful to see the growth and development of important life skills. Through WOHAA, Hana has learnt to balance the different activities in life and become more confident and I am pleased to see her take on a role as a team leader. From skills gained from writing letters, to calling companies/places to negotiate supplies for their events . This is all invaluable experience, which she may otherwise have not experienced.

STUDENT TESTIMONIALS

Student: Talia Dockerty School: Yavneh College Team: Passion Pixies "I have gained some valuable life skills such as organising events and financing all whilst raising money for an amazing charity. I've really enjoyed this journey as it involved planning exciting fund-raising projects with my friends!"

Student: Kitty Smith School: Yavneh College Team: Passion Pixies

"I've learnt how to manage being in a team with other people where it's important to make sure everyone is happy and heard in order to succeed and raise money for an important cause."

Page 8

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

Student: Nicolaus

School: Oxford International College

Team: 99%

This all went by in a blink of an eye. What started off as a responsibility, came out to be one of the most precious memories in my life, words cannot elucidate how grateful I am to my team mates. I could vividly remember the start of our first event, things were bad on my end. I have no idea how to lead a team, we were barging around like clueless flies. I wanted the whole thing to go perfect, thus always fixating my sight on minor details and couldn't grasp the main point for the event. Through the programme, I definitely learnt how important communication and teamwork is, in order for our team to succeed in achieving our goals. With the countless and endless online meetings we had, we really spent a lot of time and effort into making things work out the way we wanted them to do. I also appreciate being able to make good use of my drawing skills into the Christmas Cards Sale. Seeing people actually buying them and liking the design that I drew gave me a great sense of achievement.

Student: Benjamin Ross Team: Kindness

School: JFS

For our team, a huge part of our campaign was our Instagram account. We felt it important to establish a social media presence, and on this platform we were able to promote events, obtain followers, and, most importantly, spread awareness for our cause.

Within several weeks, we had hundreds of followers, with more than 200 hundred people of varying background and schools shouting us out. In addition, we contacted celebrities with large followings, in hope of a reply. In particular, @joelbeya1 (50k followers), @rudy_willingham (294k followers), and @milliecaramanli_ (12.4k) all shouted us out. We also received loads of support and awareness from Ross Haslam (43k) , Team GB diver, who even donated to our cause, as well as Jon Guelas (32k), Athlete Richard Whitehead MBE (86.4), and mental health speaker and author, Jonny Benjamin MBE. Through the support of these various individuals, we were able to spread our name to hundreds of thousands of people, and of all different circles.

Student: Pavan Purewal School Brentford School for Girls

Team Anonymous Hope.

We want to say thank you for helping us on our Wings of Hope Journey and for providing us with workshops that will help us in the future. We hope that we can do WOHAA again soon.

MILESTONES IN 2020-21

MENTORING

Mature students from London Business School continued their historic partnership with Wings of Hope. They continued mentoring and conducting workshops for the students. Mature students represented over 20 nationalities and countries - from Australia, Brazil, Portugal, the USA, the UK, and Ghana.

London Business School students from all professional backgrounds brought their knowledge and expertise towards our WOHAA students. We had support on marketing, business and entrepreneurship, technology, finance, education and music.

Page 9

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Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

SKILLS WORKSHOPS

Page 14

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Wings of Hope

Report of the Trustees

for the Year Ended 30 June 2021

STUDENT PROJECTS

UK - WOHAA

CAR BOOT SALES

Page 16

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

CHRISTMAS EVENTS

100KM BIKE RIDES

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Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

CHENNAI EVENING TUITION PROJECT/ COVID-19 SUPPORT

Report from SAVE Trust - Our local NGO in Chennai, whom we support.

The distribution of Mask, Educational Materials and Snacks to tuition children and tuition teachers, volunteers and stakeholders had been organised in the tuition centres at Nehru Nagar, Velliyur - Thamaraipakkam village of Tiruvallur District (about 40 KMs away from Perambur - Chennai where we are running three tuition centres from 2019) and Madhavaram.

The tuition teachers and stakeholders successfully organised the distributions at their respective tuition centres. The volunteers arranged the distributions. Through these distributions, all the children of these centres, teachers and volunteers had happily received two masks each. The teachers and leaders of the areas had registered their sincere thanks to the Wings of Hope, UK for this timely support. Ms. K. Jebamani motivated the students with orientations on the need of wearing masks regularly and washing hands frequently and keeping social distancing when they are in crowded places. Through these three distributions there were 360 masks were distributed. The programs had been ended with distribution of biscuits. Further, 75 children of Velliyur centre had received note books, pencils, pens and other educational materials. Mr. Chals Mathew thanked all the leaders and teachers for organising the programs well.

Details of Mask / Stationery and Snacks Distributed:

No of Adult Students /
No of Students Teachers Volunteers
Area / Tuition Centre Benefitted Benefitted Total
Kennedy Nagar 90 30 120
Velliyur - Tiruvallur District 110 50 160
Madhavaram 60 20 80
Total 260 100 360

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Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

FOOD DISTRIBUTION TO ALL CHILDREN AND THEIR FAMILIES DURING COVID-19

Responding to the urgent need of food (dry groceries), soap and sanitizers to all our children and their families who were suffering a lot due to strict Lockdown enforced by the Government, SAVE Trust was able to quickly mobilise volunteers and team leaders to procure, transport and distribute these items to all these families located in various parts of north Chennai.

All children and their parents were given these parcels in the same centres where tuition is conducted, but with strict social distancing and other measures in place.

Vast slum areas were also sprayed with disinfectants over several days, to make sure that the children and their families had more protection.

SSS, Institute of Educare, Chennai, India

In July 2020 the school started online classes from Lower Kindergarten to Year 12. It was a large challenge for the school as the children and students did not have digital devices. There was a fundraising drive to secure tablets and laptops to enable school education digitally. Many children used their parents' mobile phones for the online Zoom classes. This was a very difficult learning period for the students but through dedication from the teachers and school staff, all learning migrated to being digital.

Once a week teachers were invited for wellbeing and spiritual classes, to help support them during this intense period of teaching.

The school organised a 3 day course on culture for the students held by notable professionals.

Page 19

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

Year 12 results 2020-2021

CBSE results (national board exams) Students from the school achieved top national results - here are some of the students' grades

Year 10 results 2020-2021

Diversity and Inclusivity

Students got to roleplay different people from different cultures, and backgrounds to engender respect

Page 20

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

ATAL TINKERING LAB INAUGURATION

Funds raised for the school allowed for a digital leap forward for them. Contributions allowed for a brand new digital lab to be built and initiated The lab aims to develop innovating thinking in the children's minds through hands-on lab activities using Artificial Intelligence, 3D printing, Robotics etc

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Wings of Hope

Report of the Trustees for the Year Ended 30 June 2021

HOSTEL BUILDING PROJECT

The charity contributed towards the building project for a new hostel/ dormitories adjacent to the school. This had particular sentiment attached to it as the dormitory is being built in the name of the late Principal of the school who sadly passed away of COVID-19 at the young age of 40 years old. Wings of Hope's contribution this year was for one 400 SQ FT dormitory , with future plans in place to support more.

In Conclusion

We are proud of the achievements of our teams, volunteers, mentors, teachers, and of course students - globally - this year. Despite all of the challenges that the COVID-19 outbreak caused in terms of logistical challenges in schools, mental wellbeing of students, teachers, and parents, and the various migrations to digital forms of communication and connections - the charity has weathered through the issues, and come out stronger and more agile.

We have diversified our way of presenting to students which will enable scale and growth in the future. There has been a greater appreciation of nature and the environment which has encouraged students to allow WOHAA to be a programme focused on a holistic set of life skills training including that of being custodians of the future of our planet.

Unsurprisingly the students excelled at adapting to digital forms of fundraising and involvement in workshops. The topics of conversations during the mentoring sessions and workshops were incredibly rich. Students showed great empathy for each other and the cause-related charity work. The students relished the challenge to do online fundraising and awareness raising for the charity and were supported wholeheartedly by parents, guardians and teachers.

We hope that in 2021-2022 our normal in-person programmes and workshops can recommence, however we embrace a hybrid form of conducting business as a charity.

Our international projects never fail to amaze in their positivity, and can-do attitudes towards supporting the community - from education, to healthcare, and food.

Partnerships - we hope to continue our working relationships with our corporate partners and to enlist new ones in the fields of digital communication, social media, and environmental leadership for young people.

Wings of Hope continues to charge no fees to schools, in the UK or abroad for the WOHAA Programme. This has benefitted students from State, Comprehensive, Academies, Teach First and Free Schools.

The management team continue to do all they can to find suitable sponsors for this programme.

Our corporate partners continue to support and encourage the work that we do, through regular communication.

We are grateful to many individuals who have donated to us through the WOHAA projects as well as through other donations.

We are very grateful to thousands of students behind this charity, hundreds of teachers and heads of schools who have so generously supported us and to all our Patrons and donors for their ongoing support and encouragement.

WOHAA has also benefitted from the vast amounts of time, spent by the Co Founders of the charity, building and strengthening old and new relationships with corporate partners, schools, and universities.

Investment policy

The trustees are able to make any investment they see fit.

Risk management

The trustees have discussed the risks in the charity and have identified a reduction in income levels through grant, sponsorship and donations. Concerns about the state of the economy have also been contributory factors. Nonetheless, there are procedures in place to deal with these risks.

Page 22

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure, governance and management constitution

The charity is constituted as a company limited by guarantee as defined by the Companies Act 2006 being governed by its Memorandum and Articles of Association dated 5 June 2003, and is registered as a charity with the Charity Commission.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 30 March 2022 and signed on its behalf by:

Dr R Sri Ram PhD FRSA - Trustee

Page 23

Independent Examiner's Report to the Trustees of Wings of Hope

Independent examiner's report to the trustees of Wings of Hope ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Denver Dias BSc, FCA, MBA, FI Mgt Williams Chartered Accountants Jade House 67 Park Royal Road London NW10 7JJ

Date: 30 March 2022

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Wings of Hope

Statement of Financial Activities
for the Year Ended 30 June 2021
30.6.21
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
86,733
EXPENDITURE ON
Raising funds
557
Charitable activities
Charitable activities
79,540
Other
-
Total
80,097
NET INCOME
6,636
RECONCILIATION OF FUNDS
Total funds brought forward
(14,287)
TOTAL FUNDS CARRIED FORWARD
(7,651)		 30.6.20
Total
funds
£
123,427
-
105,550
5
105,555
17,872
(32,159)
(14,287)

The notes form part of these financial statements

Page 25

Wings of Hope

Balance Sheet 30 June 2021

30.6.21
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
5
570
CURRENT ASSETS
Stocks
6
3,894
Debtors
7
247
Cash at bank
150,097
154,238
CREDITORS
Amounts falling due within one year
8
(133,019)
NET CURRENT ASSETS
21,219
TOTAL ASSETS LESS CURRENT
LIABILITIES
21,789
CREDITORS
Amounts falling due after more than one year
9
(29,440)
NET ASSETS
(7,651)
FUNDS
11
Unrestricted funds
(7,651)
TOTAL FUNDS
(7,651)		 30.6.20
Total
funds
£
760
3,894
4,291
20,121
28,306
(13,353)
14,953
15,713
(30,000)
(14,287)
(14,287)
(14,287)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 26

continued...

Wings of Hope

Balance Sheet - continued 30 June 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 March 2022 and were signed on its behalf by:

Dr R Sri Ram PhD FRSA - Trustee

The notes form part of these financial statements

Page 27

Wings of Hope

Notes to the Financial Statements for the Year Ended 30 June 2021

1. ACCOUNTING POLICIES

Going concern basis of accounting

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date, the Charity's liabilities exceeded its assets. The Charity has received assurance from the Trustees that they will continue to give financial support to the Charity for twelve months from the date of signing these financial statements.

On this basis, the Trustees consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might be necessary should this basis not continue to be appropriate.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 28

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2021

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.6.21 30.6.20
£ £
Depreciation - owned assets 190 253

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 123,427
EXPENDITURE ON
Charitable activities
Charitable activities 105,550
Other 5
Total 105,555
NET INCOME 17,872
RECONCILIATION OF FUNDS
Total funds brought forward (32,159)
TOTAL FUNDS CARRIED FORWARD (14,287)

continued...

Page 29

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2021

5.
TANGIBLE FIXED ASSETS
COST
At 1 July 2020 and 30 June 2021
DEPRECIATION
At 1 July 2020
Charge for year
At 30 June 2021
NET BOOK VALUE
At 30 June 2021
At 30 June 2020
6.
STOCKS
Stocks
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other Debtors -SCL
Other Debtors - Paypal/Stripe
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Other creditors-SCL
Accruals and deferred income		 30.6.21
£
3,894
30.6.21
£
-
247
247
30.6.21
£
3,738
-
126,016
3,265
133,019		 Fixtures
and
fittings
£
7,167
6,407
190
6,597
570
760
30.6.20
£
3,894
30.6.20
£
3,834
457
4,291
30.6.20
£
5,182
6
-
8,165
13,353

continued...

Page 30

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2021

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21 30.6.20
£ £
Bank loans (see note 10) 29,440 30,000
10. LOANS
An analysis of the maturity of loans is given below:
30.6.21 30.6.20
£ £
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 29,440 30,000
11. MOVEMENT IN FUNDS
Net
movement At
At 1.7.20 in funds 30.6.21
£ £ £
Unrestricted funds
General fund (14,287) 6,636 (7,651)
TOTAL FUNDS (14,287) 6,636 (7,651)
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 86,733 (80,097) 6,636
TOTAL FUNDS 86,733 (80,097) 6,636
Comparatives for movement in funds
Net
movement At
At 1.7.19 in funds 30.6.20
£ £ £
Unrestricted funds
General fund (32,159) 17,872 (14,287)
TOTAL FUNDS (32,159) 17,872 (14,287)

continued...

Page 31

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2021

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
123,427
123,427		 Resources
Movement
expended
in funds
£
£
(105,555)
17,872
(105,555)
17,872

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.7.19 in funds 30.6.21
£ £ £
Unrestricted funds
General fund (32,159) 24,508 (7,651)
TOTAL FUNDS (32,159) 24,508 (7,651)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 210,160 (185,652) 24,508
TOTAL FUNDS 210,160 (185,652) 24,508

12. RELATED PARTY DISCLOSURES

The administration charges of £12,000 (2020 - £12,000) together with £48,000 towards the cost of WOHAA UK Project are payable for services provided by Supreme Creations Limited, a company in which trustees Dr R Sri Ram and Mrs Rajni Sriram are Directors, and have been approved by the Charity Commissioners.

continued...

Page 32

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2021

13. COMPANY LIMITED BY GUARANTEE

Wings of Hope is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Page 33

Wings of Hope

Detailed Statement of Financial Activities

for the Year Ended 30 June 2021

Detailed Statement of Financial Activities
for the Year Ended 30 June 2021
30.6.21 30.6.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 43,634 81,279
Grants - 3,665
WOH Achievement Awards 43,099 38,483
86,733 123,427
Total incoming resources 86,733 123,427
EXPENDITURE
Raising donations and legacies
WOH Achievement Awards & Event 557 -
Charitable activities
Wings of Hope students development programs 57,433 84,019
Depreciation 190 253
Grants to schools 6,450 5,000
64,073 89,272
Other
HMRC late payment interest - 5
Support costs
Governance costs
Consultancy fees 466 1,631
Independent examiner's fees 2,200 2,000
Administration 12,000 12,000
Bank charges 801 647
15,467 16,278
Total resources expended 80,097 105,555
Net income 6,636 17,872

This page does not form part of the statutory financial statements

Page 34